Bank Changes
Big Doings in Banking Circles in the Last Two Weeks
Kendrick has two Strong Ones
It was persistently rumored about two weeks ago that Kendrick was to have another banking institution but such report was not verified till last evening when the leaders of the new organization gave out the following for publication.
In the meantime the Kendrick State Bank sprung a surprise on the public by a move which involved the purchase of the Moscow State Bank, the removal of John Bradbury to Moscow as cashier of the latter institution and the substantial support of the J.J. Day interests as will be seen by the following.
An event of considerable importance to Moscow commercial circles took place yesterday, when Mr. Jerome J. Day, the wealthy mine operator and part owner of the famous Hercules mine, took over the interest of C.H. Patten in the Moscow State bank, and in connection with John W. Bradbury, president of the Kendrick State Bank, became the owner of a large majority of the bank’s stock. Mr. Day will become president and Mr. Bradbury, who has already assumed his duties, will be the cashier. Mr. Patten will act as president till Aug. 1, at the request of the new owners, when Mr. Day will succeed him.
One of the early movements of the new controlling interests of the Moscow State will be the increase of the capital stock of the bank from $25,000 to $50,000. This, it is understood, will be done early in the fall, when the crops being to move and the necessity for liberal advances to move them becomes apparent. In fact, the Moscow State bank may henceforth be classified as a strong financial institution, capable of sustaining the largest burdens that, in an agricultural community, banks are generally called upon to bear. Mr. Bradbury, the new cashier, has had a wide experience in banking and withal a very successful career, while Mr. Day in the few years he has been in active business, has shown marked aptitude along financial lines, and with his large means and great popularity is certain to give the reorganized institution great strength and make it one of the strong financial institutions of the interior country.
Mr. Patten, who retires from its management, was the organizer of the bank and built up a nice business for it. He stated today that he had no plans for the future, and was not prepared to say whether he would remain in Moscow or not.
We learn from E, [sic] W. Bradbury who will be the active head of the State Bank that the officers will remain the same, the policy of the bank be the same and no different will be apparent except in the substantial backing and strong financial support of the Moscow State Bank.
‘Feeling that the financial condition of the Potlatch guaranteed such action as the Vollmer interests have, with several substantial residents of the various ridges have organized a bank which in the next few weeks will be open for business. This new institution will be known as the Farmer’s Bank & Trust Co. thus enabling it to do a general trust as well as banking business; its capital stock will be $25,000, while the heavy support of the First National of Lewiston or the Vollmer interests will back the bank.
‘Temporarily the Trust Co. will open its doors in the room vacated by Dr. Shontz, next to the postoffice, although later we learn it is the intention to erect a commodious bank building. The directors and officers have not been announced as yet, but likely be made known next week.
Source: Kendrick Gazette, July 19, 1907.
It’s one of my favorite days of the year — Major League Baseball’s Opening Day! The Washington Nationals have been rained out in Cincinnati, so I’ll have to wait until tomorrow to get my baseball fix. In honor of the return of baseball, today’s posts will be two stories about Lewis Bradbury, “professional second baseman” in Idaho in the early 1900s. Enjoy!
Carol Ann Hilton 