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Princeton Daily Clarion Bicentennial EditionmFrancisco bank organized in 1908It was early spring and the roads were soft and muddy as the farm folk made their way town in carriages and wagons. The travellers pulled the reins and talked to the horse teams urging them on carefully, bypassing the deep winter-made ruts that could easily break a wheel and spill a careless driver and his passengers onto the cold wet earth.The year was 1908 and rural children were attending one room schoolhouses and studying their homework by the light thrown from kerosene lamps.The citizens of Francisco and Center township had established a new bank in Francisco and named it The Franciso State Bank. April 14, 1908 had been chosen as the time for the first shareholders meeting. People arrived early to shop and visit before the meeting which was to be held in the public school building in Fransisco.The first board of directors elected at the shareholders meeting were as follows: Martin Weber Sr., Dr. D.H. Swan, Henry Rembe, J R. Morrow, James M. Hussey, A.J. Wilderman, Joel Bailey, A.J. Schuh, John Arbuthnot and J. Edgar Mauck, Of these directors, Dr. D.H. Swan became the first president J.R. Morrow, vice president, and William B. Critser, cashier.Plans for a permanent home culminated in the purchase of a lot where the old original townhall is now located and the building was completed in May, 1908. The original building is still standing and is used by the town as a storage building for supplies. After some bargaining, counters and deskswere contracted for, and by June 21,1908, the directors were informed that “business was running satisfactorily”.After one year, Dr. D.H. Swan succeeded Critser as cashier and held that position until 1910, when J.S. Finch became cashier. He served until 1920, when he resigned and was succeeded by E.H. Weitzel who served until 1946.The bank grew steadily and there was need for larger banking quarters. On April 16, 1924, the present bank building was completed and open housewas held.In 1924 the bank was robbed by a small time gambler who lived in Princeton. He had been holding up local dice games over the county and decieed to go into a more lucrative business. After engaging the Hembree Taxi Service at Princeton, heordered the taxi driver to go to Francisco and stop in front of the bank. When the would-be robber alighted from the taxi, the driver sensing the situation drove away, leaving the bank robber afoot. When he came out of the bank with his ‘loot’ in a pillow case and could not find his taxi, he was taken by complete surprise and begain running down 5th street, directly west of the bank. Thelda Reavis, an employee of the bank happenedto working near the rear of the building. Seeing what was going on she ran out the back door, it was said by Schuh, that her feet never hit the ground from thetime she left the bank until she was in his store which was across the street west of the bank.The bank burgler alarm was sounded and the townspeople.seeing the man run irom me bank, began taking potshots at him from behind trees, buildings, and partially opened doors. He was later captured behind the I.O.O.F. Cemetery after a very merry chase and much excitement.A year well remembered bymany in this community is 192 The economic outlook was growing dark since the stock market crash of 1929. Each year brought more business failures and financial distress, causing many banks to have to close their doors. As the depression came closer to Francisco, the bank management was ready. Cashier E.H. Weitzel and director W.F. Chappell went to Princeton and made arrangements for money that might be needed to pay any depositor who might become panicky. At opening time March 31, 1933, a group of frightened depositors gathered to withdraw their money was was on deposit. No sooner had the ‘run’ started when a car drove up to the bank door and began unloading bags of money. The unusual sight attracted a crowd of on-lookers, who gazed in amazemnt as bag after bag was carried into the bank. As the last bag was handed from thecar, one of the by-standers remarked “A hundred thousanddollars in folding money, you can’t break this bank '. Confidence was immediately restored and the people who had gathered to withdraw their funds quickly changed their minds. It is well known throughout this area that The Francisco State Bank was one of the few small banks to weather the financial storm of1923The Francisco State Bank has shown steady growth since the beginning days of 1908. Assets were $$240,004.40 in 1926, $628,994.40 in 1946, $2,107,492.02 in 1966 and $5,404,605.43 in 1976.One of the current directors of the bank, Michael B. McConnell, is a great grandson of James M. Hussey who was a member of the original board of directors elected in 1908.Glenn Goldman who is the oldest member of the board started in 1936 andhas 40 years of service as a director .as a director. T.E. Dill has been a director for 20 years and is now serving as vice president. Other directors at the present time are: Wayne Hopkins, president,S. Arthur Coleman, secretary, Charles D. Ice, and Glen A. Young.The present executive officers are: Charles D. Ice,executive vice president, whohas been with the bank for 19 years; Glen A Young, cashier has been with the bank 10 years, and Maxine Marshall, assistant cashier who has 35 years service.From the original beginning of two employees the bank now employs Brenda Dawson teller; Thelma Krupicka, teller ; Janet Cromer,teller; Sandra Phillips, bookkeeper; Vanessa Coleman, bookkeeper; and Mary Mc-COnnell, Marjorie Hill, and Kathleen McEllhiney as part-time bookkeepers. -Past presidents over theyears have been. S.R. Davis,J.R Morrow, A.J. Schuh,James M Hussey, W.F. Chappell, William J. Chappell,Charles W. Maxam, James, McConnell and Wayne Hopkins.The ! is the n Gibson was fc merge whichin the county1. Ipany corpor to ConPrince 2. V\comp;corpoiSastiSav the c Hart been of 197The I^amt and c Mel ( The deve I .ami line o the a
Newspaper Details
Princeton Daily Clarion
Princeton, Indiana, US
Tue, Jun 22, 1976
Page 15
Full Page
Clipped by
Sullivan C.
IN, USA 02 Jun 2022
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