In the fall of 1891 the Alvord Bank was established with what was purported to be a paid up capital of $25,000.  W.E. Ellis was then acting as cashier.  It was a private institution and I have been unable to ascertain who were the partners.

In June, 1892, the bank was sold to H.C. Curtis and J.H. Gallagher, who continued the business as a private bank under the name of the Alvord Bank until June 1, 1894, at which time it was reorganized into the Alvord Savings Bank.  G.W. Hoomes of Doon, Iowa, was president, J.H. Reimers, vice president, and J.D. Stuart, cashier, with the following board of directors:

G.W. Holmes, J.H. Reimers, J.H. Gallagher, John Paulsen and H.R. Lorenzen.  The business was continued under this management until October 1, 1899, when it was purchased by B.L. Richards, W.H. Bradley, C.S. Bennett, and Charles Shade.  The charter was cancelled and it was continued under the name of the Alvord Bank, with B.L. Richards as president and C.S. Bennett as cashier.

On the 22nd of April, 1901, Charles Shade was elected president to succeed B.L. Richards, and G.A. Manwaring, having purchased the interest of C.S. Bennett, succeeded him as cashier.  The bank continued under this management until June 8, 1904, at which time D.R. Whitaker succeeded G.A. Manwaring as cashier.

It now has a paid-up capital of $20,000 and is owned by the following stockholders:

B.L. Richards, W.H. Bradley, G.A. Manwaring and Charles Slade.  The present officers of the bank are Charles Shade, president, and D.R. Whitaker, cashier.

By reference to January, 1904, bank directory, this bank reports as follows:  Deposits, $80,000 loans, $75,000, cash reserve, $20,000.


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