File:History of Shiawassee and Clinton counties, Michigan (1880) (14596133597).jpg

Identifier: historyofshiawas00elli (find matches)
Title: History of Shiawassee and Clinton counties, Michigan
Year: 1880 (1880s)
Authors: Ellis, Franklin, 1828-1885
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Publisher: Philadelphia : D.W. Ensign & co.
Contributing Library: University of California Libraries
Digitizing Sponsor: Internet Archive

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all buildingwhich stood upon the site now occupied by the FirstNational Bank. Baker & Highams business did not lastvery long, and ended rather abruptly. In January, 1865, S. S. Walker opened a banking-officein 0. W. iMungers store, and shortly after that Mr. Walker,in conjunction with others, organized THE FIRST NATIONAL BANK. The first meeting of the stockholders was held May 31,186.i,at the office of P. K. & H. M. Perriii, when CharlesKipp was chosen President; John Hicks, Vice-President;and S. S. Walker, Cashier. The directors elected were R.M. Steel, Charles Kipp, John Hicks, Josiah Upton, H. M.Eddy, R. Strickland, O. W. Munger, H. M. Perrin, andRansom Plumstead. Aug. 28, 1865, the bank was char-tered, with a capital of fifty thousand dollars, limited totwo hundred thousand dollars, and Sept. 4, 1S65, beganbusiness in the building originally used by Baker & High-am, for which the bank paid seventeen dollars. Directlyafterwards a new bank building was put up on the same
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VILLAGE OF ST. JOHNS. 375 site, the old structure occupying meanwhile a place on theavenuo, and there for thirty days the banking business wasdone until tiie new building was ready for occupation.This latter served until 1870, in which year it was replacedby the present fine brick structure. The old bank buildingwas moved around upon Walker Street, and now does dutyas the St. Johns post-oflBce. Mr. Walker continued to bethe cashier until his resignation, in July, 1877. G. W.Bail succeeded him, but retired in December of that year.His successor was Galusha Pennell, who is the presentcashier. The directory of the bank is composed of CharlesKipp, President; John Hicks, Vice-President; GalushaPennell, Cashier; Joshua Upton, and A. H. Walker. Theworking capital of the institution remains at fifty thousanddollars. At the close of business. May 10,1880, the bankstatement showed the circulation to be forty-five thousanddollars; loans and discounts, one hundred and six thousandseven hundred an

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