USA > Nebraska > Hall County > History of Hall County, Nebraska > Part 45
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When a boy he attended the public schools of Freeport, and then for several years was a country school teacher, working on a farm occasionally, when not employed in teaching. In March, 1863, he entered the employ of De- Forest & Co., bankers, at Freeport, and a year later their bank was made the First National Bank of that city. Starting in as a young man of all work, he was advanced step by step until he became assistant cashier, a position that he retained until 1880. He then came to Omaha, and upon the recommendation received there, direct to Grand Island, where he established a private bank. In 1882, in company with several substantial citizens he organized the First National Bank of this city.
Mr. Bentley at once became cashier of that institution, as well as a director, and these positions he held for the next twenty-five and a fraction years, until his death, which occurred on July 15, 1908. He also took part in the establishment of other banks in Hall County, and his name will appear many times yet in connection with them. He was one of the organizers of the Doniphan Bank in 1886, and later became president of that institution. He was the first president of the Cairo State Bank, organized in 1902.
In 1864, when the call had been made for 100 day men, Mr. Bentley enlisted in the 142d Illinois Volunteers in which regiment he served as a commissary sergeant. He always gave his support to the republican party, but served as a private in political ranks and never sought office.
He took an early and continued interest in building and loan associations. He served as an officer in both the old People's Association and for thirteen years the Grand Island (Equitable) Association. He wrote the first
building and loan law in the state of Nebraska, and directed his activity chiefly to efforts to secure such legislation and to promote such forms of organization as seemed calculated to insure safe and conservative management of the associations and fair and equitable rela- tions between them and their members. For several years he was president of the Nebraska League of local loan and building associations, later vice-president for this state, and in 1907, president of the National League for the United States. He is one of the men to whose activity and energy the fact is due that Ne- braska has building and loan laws superior to many of the states about her.
He was married, November 26, 1868, to Miss Angeline Alice, daughter of Peter Dreisbach and Lavina (Klopp) Fisher, a native of Rock Grove, Stephenson County, Illinois. To them three children were born: Arthur Fisher Bentley, formerly an editorial writer on the Record-Herald of Chicago, author of numer- ous valuable economic and governmental studies, during the war state director of Ameri- can Red Cross for Indiana, and now returned to his private pursuits as an orchardist at Paoli, Indiana ; Doctor Frederick James Bent- ley, a leading oculist at Seattle, Washington ; and Grace Bentley Paine, wife of district Judge Bayard H. Paine of Grand Island.
GEORGE B. BELL
was born at Colrain, Massachusetts, on April 10, 1861. His father, Joseph Shepardson Bell, graduated as a civil engineer, but followed farming and married Sarah Packer.
George Boardman Bell was educated in the Colrain district school, at Power Institute, Bernardston, Massachusetts, and left before graduation to take a position with the Grand Island Banking Company (now Grand Island National Bank) on December 15, 1880.
Mr. Bell became the second cashier of the Grand Island National Bank and served until October 1, 1910, when he left this institution after twenty-nine years of service, during six of which, 1895-1901, Mr. Bell and Mr. Bent- ley, as cashiers of the two banks of Grand Is- land, bore the brunt of the responsibility of
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HISTORY OF HALL COUNTY NEBRASKA
the banking work of the community. In the ten years that he has been living in Chicago, since he severed his connection with the Grand Island National Bank, Mr. Bell has made a steady climb in the financial world. He was director, secretary-treasurer and manager of H. O. Stone & Co., real estate brokers of Chicago, 1913 to March 17, 1919. Since he sold out his interest in that concern he has de- voted most of his attention to his duties as president and director of the Delta & Pine Land Co. of Mississippi. This concern owns the largest cotton plantation in the world, con- taining 52,000 acres of the richest delta land in Mississippi. Mr. Bell is à heavy stockholder in the Koehler Hotel Co. of Grand Island. He also owns several Chicago apartment and store buildings, and has other corporate interests in Chicago and elsewhere. He has been a Re- publican in his political views and an active worker in Masonic circles and the Elks order. He was married on August 6, 1885, to Emma Howard, daughter of Blake C. Howard. To this union were born, Clarence Howard Bell, who died when a year and half old; Margaret, who married Charles S. Hart, living in New York City ; George Boardman Bell. Jr., married Jane Fowler, living in St. Louis ; and Dorothy at school at the National Park Seminary, For- est Glen, Maryland, near Washington, D. C.
THE FIRST NATIONAL BANK
The establishment of the First National Bank of Grand Island has already been touched upon. Articles of association were ex- ecuted July 14, and United States Charter (2779) issued August 22, 1882, making it the oldest National Bank in Grand Island. The original stockholders of this institution were: Martin Horn, Alex Stewart, Geo. H. Andrew, Charles Milisen, J. H. Murphy, W. J. Burger of Doniphan, James Hall, A. D. Sears, Henry Mayer, H. J. Palmer, John L. Means, C. W. Thomas, Fred Hedde, Dr. A. L. Stevenson, Thompson Brothers (W. H. and J. R.), H. C. Held, Samuel N. Wolbach, Patrick Dunphy, C. F. Bentley, Angeline Bentley, Hattie B. Cummings, P. J. Bentley, Ella M. Paine, Maria F. Fisher, and John W. Lambert. The stock
then subscribed was 500 shares, or $50,000. This line-up of stockholders continued until January 2, 1885, when an increase in the capi- tal was made to $100.000, more stock was allot- ted to the old stockholders and three more added, John Reimers, Arthur Mayer, and May Lamb.
After thirty-seven years of existence for the institution the stockholders in 1919 are: Sam- uel N. Wolbach, Ralph R. Horth, John Reim- ers, Mr. and Mrs. Bayard H. Paine, I. R. Alter, H. J. Palmer, Paul Frauen, Arthur C. Mayer, John Donald, Chas. G. Ryan, Chas. W. Brininger, L. T. Geer, J. A. Mitchell, S. Y. Bryson, Mr. and Mrs. Frederick Wietzer, Ira T. Paine, May D. Lamb, A. D. Sears Augusta Veit, Anna J. Mileson, Dr. F. J. Bentley, Arthur F. Bentley, Emil Wolbach, E. J. Wolbach, Terry Reimers, Theo. Reimers, and Oscar Reimers.
Samuel N. Wolbach was elected the first president of the bank and has remained at the head of the institution throughout the entire thirty-seven years.
This bank has weathered all the storms in these thirty-seven years, but the most trying time in its history was in 1895 and 1896, when three of the banks of the city went under, and the two remaining struck the lowest point in their history. The First National showed in its report of March 9, 1897, deposits of only $191,063, while the Grand Island Banking Co., the other survivor, on Dec. 31 1896, showed deposits of $69,677.35. This was the ebb of Grand Island's financial institutions, and since that date both of the surviving banks, and all of their new competitors have shown steady, substantial gains, year by year.
C. F. Bentley remained as cashier until his death, July 15, 1908. Through the 'eighties, there had been seven directors who served for a number of years: S. N. Wolbach, C. F. Bentley, C. W. Thomas, H. J. Palmer, John Reimers, Patrick Dunphy and W. J. Burger, the latter residing at Doniphan. Later the board was reduced to five, and Messrs. Wol- bach, Bentley, Thomas, Palmer, and Reimers served together for many years. C. W. Thomas disposed of his stock late in 1908. Digitized by Google
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HISTORY OF HALL COUNTY NEBRASKA
and L. M. Talmage, who had purchased part of the stock of the Bentley estate, was elected a director, and became the second cashier of the bank. He remained as cashier until he disposed of his stock interest on December 1, 1914, after which time I. R. Alter, Jr. was elected cashier, and he is still serving in that capacity. After the death of his father, Ar- thur F. Bentley served for a short time as director, after which Bayard H. Paine was elected a director and has served on the board since then. In the following January (1909) the board was restored to seven mem- bers, and Ralph R. Horth and Paul Frauen were elected. Since the elevation of Mr. Alter to the cashiership and his election as a direct- or, the board has been composed of Messrs. Wolbach, Reimers, Palmer, Paine, Alter, Horth, and Frauen.
Through part of the time the bank has not carried the title of assistant cashier, but F. C. Hanaford and S. E. Sinke served this bank faithfully in practically this capacity during a period of service lasting between twenty- nine and thirty years each. S. D. Ross was elected assistant cashier on June 30, 1902, and resigned October 26, 1908. Then Messrs. Hanaford and Sinke each held the title of assistant cashier for a number of years, and then I. R. Alter, Jr. became assistant cashier. After Mr. Alter became cashier, Frank J. Cleary came to the First National as assist- ant cashier, and after he left the bank in 1918, P. C. Birk was elevated to this office. Before Mr. Bentley's death the bank built and occu- pied a very ornamental and splendidly ar- ranged one-story, stone front building at 112 West Third street.
Mention has already been made of the low ebb this bank reached in 1896 when it weath- ered the financial storms of those trying times. A little further indulgence in figures for the ten year period from 1892 to 1903 will show how this bank fared in those times of storm and returning sunshine.
The rapid decline in such a short space is · worthy of notice. It will also be noted that loans and discounts at that particular period were larger than deposits.
Loans and
Year Deposits Resources Discounts
July 14, 1896 .. $224,969.22 $370,595.71 $196,081.06
Evidently there had been a restriction on loans and discounts. The next two statements given are the lowest this bank reached in that period.
Loans and
Year Deposits
Resources
Discounts
Oct. 6, 1896. . .$198,360.05
$343,989.27
$206,017.90
March 9, 1897 .. 191,063.35 338,306.83
191,813.87
May 14, 1897. 227,276.86 375,398.34
From this time on the First National began to forge ahead with a steady gait. The follow- ings statements of deposits for a five year period will indicate the return of the com- munity to a normal basis, and gradually to a progressive standard once more:
Deposits
December 15, 1897. $333,919.33
December 1, 1898
380,607.77
December 2, 1899
424,884.91
December 13, 1900
459,366.79
December 10, 1901
504,440.41
April 30, 1902
585,877.69
On July 16, 1902 the deposits had reached $787,601.34 and resources were $1,019,221.60, the million dollar milestone passed. A glance at the deposits and total resource items shown by the statements of this institution for the last five years will show by way of contrast the present commercial and financial status of Grand Island as compared to the close times of twenty to twenty-five years ago.
Date Deposits Total Resources
Sept. 12, 1914.
$1,161,109. $1,470,823.
Sept. 2, 1915.
1,370,722.
1,699,856.
Nov. 17, 1916
1,691,347. 2,046,285.
Sept. 11, 1917
2,343,213. 2,713,493.
Nov. 1, 1918.
2,178,723. 2,546,315.
May 12, 1919
2,481,929.
2,856,257.
Year
Deposits
Resources
Discounts
Sept. 30, 1892.
$141,568.08
$585,399.23
July 12, 1893 ... 355,791.93
527,025.86
$376,839.21
July 18, 1894.
345,761.55
506,041.38
May 7, 1895.
250,449.15
410,817.63
July 21, 1895
208,496.17
352,556.17
248,244.45
Loans and
THE BANK OF COMMERCE
The bank of Doniphan was established May 3, 1886, but it will be taken up after the Grand Island banks have been treated together, as the first outside bank in Hall County. Ogle
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HISTORY OF HALL COUNTY NEBRASKA
The next banking institution in Grand Is- the $257,454.26 estimated assets as worthless, land, was the Bank of Commerce, incorpor- making a shortage of $78,130.80. ated April 1, 1887, with a capital stock of $50,000. T. P. Lanigan was elected president, THE SECURITY NATIONAL BANK J. D. Moore, vice-president, J. M. Marsh, cashier. Directors other than the officers just named who took an interest in this bank were F. B. Johnson, cashier of the Bank of Com- merce of Omaha, who perhaps had a hand in passing on that name to this new institution, and E. L. Dodder, Sr. Mr. Lanigan, the first president of the bank, later moved to Greeley, Nebraska, where he has been a leading at- torney for almost thirty years. J. D. Moore, who had formerly been agent for the Union Pacific Railroad company at Grand Island, was chosen president to succeed Mr. Lanigan, and he in turn was succeeded as president by E. L. Dodder, Sr. Oscar J. Smith became vice-president and J. D. Moore took the cashiership, when Mr. Dodder became presi- dent, and E. L. Dodder, Jr. served as assis- tant cashier. Judge F. B. Tiffany was one of the directors of the bank for a time. The board of directors in 1893-1894 were E. L. Dodder, Sr., J. D. Moore, D. K. Hull, H. W. Merriam, O. J. Smith, W. A. Prince, and D. C. Zink. The Scarff building, at 224 East Third, was the banking home of this institu- tion during most of its career. At one time, about 1890, there were fifty-two stockholders in this bank comprising many of the city's best citizens. Its capitalization reached as high a mark as $150,000. Deposits
The closing years of its financial career are detailed by the following figures from its last few statements.
Date
Deposits Total Resources
Mar. 6, 1893.
$157,361. $259,390.47
Dec. 19, 1893.
144,359. 267,924.68
Aug. 31, 1894. 219,136. 325,746.16
Dec. 29, 1894.
164,998. 271,062.91
Aug. 1, 1895.
122,721. 213,831.31
Dec. 31, 1895. 99,225. 225,432.60
Loans and discounts were then, $154,129.
When the report of Receiver Wm. Anyan was made as to the affairs of the Bank of Commerce, after its failure, it showed the total liabilities to be $158,057.61, and $177,527.45 of
This bank was formed during 1889 as the Security State bank, and its first officers were: H. A. Pike, of Boston, Massachuesttts, presi- dent, F. W. Barber, vice-president and locally in charge of the president's duties, O. B. Thompson, cashier. They, with T. R. White, Jr., of New York, W. R. Bacon, Dr. P. Janss, and J. P. Zediker, were directors. Between that time and 1891 a complete change was made in the ownership and management of this bank, and before 1892 its name changed to Security National Bank. The latter set of officers and directors were: H. J. Palmer, president, E. C. Hockenberger, vice-president, A. S. Vest, son of Senator Vest of Missouri, cashier, and W. S. Dickason, assistant cashier. The directors were H. J. Palmer, A. S. Vest, E. C. Hockenberger, George Bartenbach and A. C. Murphy.
During the winter of 1889-1890 this bank- ing company completed the five-story, stone front building on South Locust street, in re- cent years occupied by the Grand Island Busi- ness & Normal College and other business in- stitutions, at a cost of approximately $50,000. This building in later years was purchased by A. M. Hargis at about 30% of its original cost.
Some of the last statements of this bank showed its deposits and total resources as:
Resources
Sept. 30, 1892. $88,253. $253,901.
July 12, 1893. 92,044. 271,546.
May 4, 1894.
79,857. 242,957.
Ost. 2, 1894.
63,042. 227,342.
In February, 1890, J. M. Marsh returned from a trip to Chicago, Omaha and Kansas City, where he had been making arrangements for selling bank stock for a proposed "Ameri- can National Bank" which was to have been erected at Third and Locust, upon the location occupied by the Tucker & Brown drug store. but this institution did not materialize.
THE COMMERCIAL STATE BANK It will be noted that for about six years.
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HISTORY OF HALL COUNTY NEBRASKA
between 1895 and 1910, Grand Island had only two banking institutions, the First National and Grand Island Banking Co.'s banks.
The Commercial State Bank of Grand Is- land was incorporated July 2, 1901, and began business July 15, 1901, with a capital stock of $30,000. The original incorporators were Ben- jamin F. Clayton, Harry B. Stewart, and Ells- worth D. Hamilton, who were, respectively, president, vice-president, and cashier, and also directors. On May 8, 1906, the capital of the bank was increased to $100,000, $80,000 paid up, and on April 10, 1911, the capital was paid up to the full $100,000.
On January 8, 1909, the interests of Clay- ton, Stewart and Hamilton were sold to Elmer Williams, M. Dowling, and H. P. Dowling, Elmer Williams coming from Fremont, Ne- braska, and Harry P. Dowling, from O'Neill, Nebraska. On April 3, 1911, the Dowling in- terests were acquired by local people and the Dowlings purchased a majority of the stock of the Shelby County State Bank, of Harlan, Iowa. On September 1, 1917, the capital of the bank was increased to $150,000.
The different presidents of the Commercial State Bank since its organization were Ben- jamin F. Clayton and Elmer Williams. The different cashiers of the bank were Ellsworth D. Hamilton and Carl H. Menck. The first published statement of the bank was made on July 17, 1901, two days after opening for busi- ness as follows: Capital, $30,000, deposits, $3,250.93, total resources, $33,252.22. On Sep- tember 30, 1901, its statements showed de- posits, $10,891.95, resources, $41,314.67, and on March 15, 1902 its deposits were $85,723 and its resources had reached $117,046.
The published statement of July 31, 1919, showed :
RESOURCES
Loans and Discounts. . .. Overdrafts
$ 955,243.15 1,329.15
Bonds, securities, judgments, claims, etc., including all government bonds 114,094.26
Banking house, furniture
and fixtures 32,584.35
Due from National and
State banks . $ 49,023.31
Checks and items of ex-
change 24,820.46
Currency
21,730.00
Gold coin 4,347.50
Silver, nickels and cents. 8,285.63 108,206.90
Total
$1,211,457.81
LIABILITIES
Capital stock paid in.
$ 150,000.00
Surplus fund
30,000.00
Undivided profits
2,829.81
. Dividends unpaid
175.00
Individual deposits subject to check $419,910.49
Time certificates of deposit 586.761.38
Certified checks 1,861.64
Cashier's checks outstandng
8,246.30
Due to National and State banks
1,546.70
1,018,326.51
Depositor's guaranty fund
10,126.49
Total
$1,211,457.81
THE HOME SAVINGS BANK
On December 11, 1909, the Home Savings Bank of Grand Island was organized with a capital of $15,000, with Elmer Williams as president, H. P. Dowling, treasurer, and C. H. Menck, secretary. The success of the Savings Bank was very marked and it continued in a prosperous condition. The business of the Savings Bank was conducted in the rooms of the Commercial State Bank and its growth was phenomenal and very successful; yet in order to facilitate the handling of the business and to lessen the cost of operation the assets of the Home Savings Bank were purchased by the Commercial State Savings Bank on September 1, 1917, and the business of the Home Savings Bank is being conducted as a savings department of the Commercial State Bank.
The present marble front building of the Commercial State Bank was erected and occu- pied by the Bank on December 18, 1910. The stock of the bank is nearly all owned by Grand Island and Hall County interests ; the number of stockholders is forty-four and its stock- holders represent farmers, business men, pro- fessional men, and capitalists.
STATE BANK OF GRAND ISLAND
For thirteen years after the organization of the Commercial State Bank, Grand Island had three banks, but in 1914 a sufficient number of local men, with outside capitalists named hereafter, thought there was room for a fourth bank in this city, and the State Bank of Grand
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HISTORY OF HALL COUNTY NEBRASKA
Island was organized. The original incor- porators were Wm. H. Thompson, Theo. P. Boehm, D. W. Geiselman and Frank W. Sloan of Geneva, Nebraska, L. J. Dunn of the City National Bank at Lincoln, A. C. Denman, Kenneth McDonald, S. M. Sonderup, V. E. Evans, Pat Fagan, and M. M. Klinge. The original board of directors chosen were, W. H. Thompson, president, Theo. Boehm, vice- president, and D. W. Geiselman, cashier, with L. T. Geer, S. M. Sonderup, V. E. Evans and Dana C. Geiselman, the latter then county at- torney at Geneva, Nebraska.
In January, 1918, L. J. Dunn, Frank J. Cleary and J. L. Cleary bought out the Geisel- man interests in the bank and those three be- came directors, with V. E. Evans, S. M. Sonderup, W. H. Thompson and M. M. Klinge. The board in 1919 remains the same except that Aug. Buchfinch succeeded M. M. Klinge. L. J. Dunn, vice-president of the City National Bank of Lincoln and director in the First National Bank at Hastings, be- came the second president of the State Bank of Grand Island, V. E. Evans, president of Glass & Evans Co. of this city became vice- president, Frank J. Cleary became the second cashier, with A. A. Roeser as assistant cashier. The paid in capital stock of the bank is $50,000. The value of the banking house, furniture and fixtures has increased from $3,204.91 in 1915 to $7,500 in November, 1918. An examination of the principal items of three statements of the bank will show its growth :
Loans and
Date
Discounts
Deposits
Total Resources
Feb. 9, 1915
$ 22,622.68
$ 20,064.18
$ 75,360.77
Nov. 18, 1918 ... 332,010.89
500,227.49
560,890.00
May 3, 1919.
555,466.00
626,408.00
This bank is located on the northwest corner of Third and Locust streets.
NEBRASKA STATE BANK
In 1917 a fifth bank was organized for Grand Island when the Nebraska State Bank was incorporated by A. E. Cady, Sr., A. J. Guendel, Judge J. R. Hanna, A. E. Cady, Jr., and Benj. Cunningham. The officers were A. E. Cady, Sr., president, A. J. Guendel,
vice-president and cashier, A. E. Cady, Jr., vice-president, O. A. Vieregg, assistant cashier, Judge J. R. Hanna, director, and Benj. J. Cunningham, attorney and director. Mr. Cady, Sr., served as president until his death, after which Judge J. . R. Hanna was elected president. The main facts shown in the first statement of this bank, issued May 7, 1917, were:
Loans $66,866.67
Cash 59,537.03
Capital 50,000.00
Deposits 95,310.23
This contrasted with the statement of May 3, 1919, two years later shows the remarkable growth of this bank. The deposits on May 3, 1919, two years later, were $687, 853, and on July 31, $762,768.
The following figures show the rate of the growth of this bank :
Total resources, May 7, 1917, $153,471.81; Nov. 20, 1917, $317,669.20; Feb. 25, 1918, $409,708.85; Aug. 1, 1918, $534,074.61; Nov. 1, 1918, $575,669.94; Jan. 28, 1919, $659,722 .- 20; May 3, 1919, $781,102.00; July 31, 1919, $883,879.50.
PEOPLES STATE BANK
If the plans for the organization of the proposed American State Bank in 1890 had materialized, Grand Island would have had six banks years ago. But as it was, this goal was never reached until June, 1919. The opening of a bank on the north side had been discussed for two or three years, a number of men prominent in north side affairs being urgently in favor of it. The war interfered with any such plans until recently. At the second meeting held for the discussion of this proposition, forty-three men were present, some of them having business houses on the north side and some doing business on the south side but living on the north side, and others being farmers living around the north- ern fringe of the city. As a starter the capital was fixed at $65,000 and A. J. Bau- mann, assistant postmaster and Attorney A: J. Joseph took an active part in getting the stock subscribed. The location selected was a room
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HISTORY OF HALL COUNTY NEBRASKA
in the Central Power Co. building at Fourth and Pine streets, which has been remodeled to make a very attractive and convenient banking room. The stock has been divided among a considerable number of stockholders, and the manner in which the bank has made its initial start gives satisfactory evidence to the hope that Grand Island has outgrown north-and-south division feeling or business rivalries of more than a friendly nature. The board of directors chosen are John Knick- rehm, J. D. Harrison, John Knickrehm, Jr., John E. Mader, August C. Menck, Albert J. Niemoth, and Franklin Tully, selected from the following list of incorporators: J. H. Harrison, J. D. Harrison, A. C. Menck, Homer Bowen, John Knickrehm, Sr., John Knick- rehm, Jr., Wm. F. Krehmke, Louis E. Upper- man, Franklin Tully, A. L. Joseph, J. E. Mader and Albert J. Niemoth. The first officers chosen were John Knickrehm, Sr., president, J. D. Harrison, vice-president, J. H. Harrison, cashier, Leo G. Shehein, assistant cashier, and A. L. Joseph, attorney. J. H. Harrison had recently resigned as cashier of the State Bank of Ravenna, and accepted the cashiership of this new bank and helped it start out, but in June, 1919, after a few weeks service, resigned to form a connection as cashier with a third bank being established at Ravenna, and Assistant Cashier Shehein was promoted to the cashiership, and Carl Knick- rehm selected as assistant cashier, and a short time thereafter Judge E. G. Kroger was elected Vice-President and became active in the bank management. On August 27, 1919, the bank carried loans and discounts of $120,- 755.17 ; deposits, $99,527.63; total resources, $159,677.48, on a capital of $50,000.
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