The Indianapolis News from Indianapolis, Indiana • Page 15

K.malott A55T. CA5HIER 1 Henry Eitel PRESIDENT wr i 5i v4 Herbert s.wood A55T. CA5HlfcJ. Indiana National Bank Has 9 2 Yqar Record of Service Successor, to State Bank of Indiana, Founded in 1834, Indiana National Grew Up With Indiana. Resources More Than $40,000,000.00 It is a truism that a strong financial institution, strong In resources and in the will to servo, is a vital factor in the auainmeni oi a cuys economic destiny.

Indianapolis has been fortunate. One outstanding financial institution has "enjoyed a continuous growth and progress since 1834 and has rendered a constantly greater service to the city the "bank now known as the Indiana National Bank. Today, with resources of more than forty million dollars, the Indiana National Bank stands at the peak of a long and honorable career, a power in the financial destiny of Indiana, known as one of the premier financial institutions of the middJe west, nationally respected. Th Indian National Bank waa erfrnl2d in 1865, the year when rational banka were Iret chartered. It is a direct descendant of an honorable ancestor, the State Tiinlc of Indiana, one of the ear lst and most widely known banks the middle went, chartered by a racial" act of the legislature in Indiana was thinly populated in few pioneer settlements were earring emllzation out of the wilderness, the vast resources of the fertile' Indiana soil were just beginning to be tapped, and this strong, pioneer financial institution was of Invaluable assistance In the development of the new country and in marketlnar the products of its rich acres.

In 1856 th charter of the original State Bank of Indiana expired, and it was succeeded by the Bank of the State of Indiana, with branches at Lawfencebarf, Madi v. son, Terre Haute, Lafayette, Ft. Wayne, Richmond and other Indiana cities. Mr. William C.

Corn well, an eminent financial authority and writer, said in an address to the American Bankers' Association that this Bank of the State of Indiana was "one of the best banks the world has ever known." 1 It is a matter of history that only three banks in the United States weathered the panic of 1857 without suspending specie payments this Indiana bank, the Chemical National of New York and the State Bank of Kentucky at Frankfort. National Charter Granted At the hight of the civil war the federal government proposed the organization of national banks, and the directors of the local branch of the Bank of the State of Indiana 'organized the Indiana National Bank. George Tousey was the first president and David E. Snyder the, first cashier. The Indiana National Bank prospered from the very beginning, and its strong, sure financial hand was active in the development of industry and business in the swiftly growing state of Indiana.

In 1882, Mr: Volney T. Malott bought the controlling interest in the Indiana National Bank and for thirty nine years waa at the head of its growing organization, thirty years as president, ana nine years as chairman of the board of directors. Mr. Malott was one of the eminent financiers of his period. He saw far ahead, built soundly and widely, gave every encouragement to the surge and growth of progress that was all about him in the days when Indianapolis was reaching up and up THE INDIANAPOLIS OTTtVS, WEDNESDAY, JULY 28, 192(5.

'1 V'l 'Tflli (Swynis F. Patterson 4 TI VICE PRE bl DENT 'i 5 r. Ot ft JOHN F. KURFISS. ASST.

CASHIER. 5 to the commercial dominance of its state. Mr. Malott began his banking career as a teller in Wooley's Bank at the age of seventeen. Himself an organizer and financier of resourcefulness and power, he early showed the faculty for surrounding himself with able men.

At the time of his death, in 1921, he was still active in the management of the magnificent institution he had done so much to create. The growth of the Indiana National Bank since its control passed to Mr. Malott in 1882 has been phenomenal. Then, the capital stock was $300,000 and the surplus $70,000. In 1901, the capital stock had grown to $1,000,000, increased out of earnings, and the surplus had reached $250,000.

The capital if; 4 2. iiijf jjS v. 7 JSr'y 7, .7" vs Macy W. Malott. VICE PRESIDENT.

BACHRACH 0 7 six A R.B. ft LOCH ASST. CASHIER. stock has doubled (it is now $2,000,000) and the surplus quadrupled since 1901, being now an even $1,000,000. An Englishman, native of London, walking east on Washington street, and glancing to the right as he passed the corner of Washington and Pennsylvania, would give a gasp of astonishment and possibly think himself looking again at the Bank of England for the architecture of the Indiana National Bank resembles the classic contours of the.

Bank of England. There is a further resemblance than the architecture, too, in the impregnable stability of the two institutions. The Indiana National Bank has occupied its present home since January 12, 1897. Whenvthe Indiana National Bank BOARD OF DIRECTORS ROT ADAMS Tmrtnrr bi 1. I.

Adam C. JOHV J. AFTEL TWrUBt OfWffary AtP4 HENRY W. BEVN'KTT rrWdaat Th Stat LI fa Insurmnoa C. ARTTTCR V.

BROWN IT trit rloa Tram C. W. T. CAXXOV rr4nt lUUIroaHfiMHi' B. an ft.

Arfml4oti ErOENE H. DARRACH Prmldnnt lBtr fttt Car O. A. EFKOTM50N rrUent D. P.

Wum A Cm. HEVKT ETTIX rrtwtdmit R. MALOTT rLETTHZB Co. TnutM Malot Etai J. B.

BOLUDAT PTMUmt W. J. Hollldar Co. W. O.

IRWIN Irwta'a Bank. CotaaUma. Indiana JOHX J. MAPPPt. IWIlMk Jhn i.

Maaitm Mfg. fa, MATT W. MALOTT. Vtr PrMtrfan SOL METER frtiaMMit Tna Marar Klaw Bank EDWARD L. McKRR Traaanrar McKaa Realty Co.

awYxrs r. rATTERSON vw rvtd NORMAN A. PERRY rrmrr InalanapolU Light Si Hraa Ca. KAMITJ, E. RAl It rnUant Rfll R.

R. ana HwkTard Ca. PETER C. REII.LT PraaldVnt Rrpuhll Cranaatlna Ca. L.

TA LOR Attoraay aa Law (FRANK D. STALNAKER. Prvalaant Cdward D. Moore! VICE PRESIDENT. 'v ..5 Framkb.Stalnaker PRESIDENT 15 II I .1 i I'iirv; i H.N iL INDIANA AND ITS BUILDERS ONE OF A SERIES iniii ii; I PIONEER FINANCIAL INSTITUTION NATIONALLY KNOWN AND RESPECT D.

Indiana National Bank Building Cor. Prxnjylvmni SL and Virfnnta ve. 'I" I 1 .11 ill I JftMES Fish AUOTOR. Thos. Kaylor.

MGR.SftFE DEPOSIT DEPT. 3 mi moved into its present quarters, but the greatest of its resources is for forty years. He started his: 1897, its officers were: Volney T. the men who make up its organ career as a bookkeeper in the Icdi Malott, president; Edward L. Mc ization.

Their character, their hv ana! Banking Company, a private Kee, vice president, and Edward B. tegrity, their ability, their bank. He rose to the presidency Porter, cashier. The directors are imponderable assets, but among of the Capital State Bank in 1SC5. were: Volney T.

Malott, George B. the greatest of alL and took over the presidency i Yandes, W. J. Holliday, Charles H. 1 the Indian' National Bank In the Brownell, H.

P. Wasson, Edward L. consolidation of 1912; He is presl McKee, Arthur V. Brown, and on dent of the Indianapolis Clearing Henry Eitel. At that time the facts from the June 30, House.

PanTunoM 1926, BankStatement $1,000,000, deposits were $7,000, The officers of the bank a men 000, loans $4,500,000 and total re a who are old In experience, tried sources were Capital staek and tested through many years in Bni i.eee.ee.e the complex business of bankinjr. Consolidated with Capital Natl rndirUaa iwita. i.47.eu.7s Henry Eitel. Gwynn F. Patterson, On July 1, 1912, the Indiana Na.

Dapoalu 3s.oi7.ass.s Macy W. Malott and Edward D. tional Bank and the Capital Na Total 4.es7.7a. Moor are vice presidents. Thomas'' tional Bank were consolidated.

In I H. Kaylor is cashier. R. Malott the reorganization of the two or Fletcher, Herbert S. Wood, John ganizatiorvB, a new staff was built The Indiana National Bank, has F.

Kurfiss and Robert B. Malloch up from the officers of the two been guided through its long years assistant cashiers and James I. banks. The new organization in of growth and progress by compe Fish is auditor. William I.

HerrtV eluded the following officers: tent men, animated by high ideals, has been manager of the safe de Volney T. Malott, chairman of the leaders in the community and in posit department since 1S9S. board of directors; Frank D. Stal all phases of its life. In 18S5 the financial statemert, naker, president (he had been pres The Indiana National Bank haa for the Indiana National Bnk ident of the.

Capital National always been a potent factor in the showed total resources of $1,601 Bank); Henry Eitel, Andrew dynamic progress of this best of 835.45. It was located In the old Smith, Macy W. Malott and Ed American cities. It has been so be Yohn building, at the northeast ward D. Moore, vice presidents; cause it is that kind of a bank, corner of Washington and Merid Gwynn F.

Patterson, cashier: and because it has been directed ian streets. The entire staff of Thomas H. Kaylor, R. Malott by men of energy, of vision and of the bank, including officers, di Fletcher, Herbert S. Wood, John Ideals.

rectors, clerks, teller, bookkeepers F. Kurfiss and Robert G. Malloch, Mention haa been made of the and messenger numbered twelve assistant cashiers, and James career of Volney T. Malott. the persons.

Today it requires 150" Fish, auditor. directing genius of the Indiana persons to transact the business of The present officers and direc National Bank tnrough the earner tors, with excerpts from the ft years of it present corporate ex. nancial statement for June SO, jstence. Other men have centrib 1926, are given elsewhere on this uted much Individually. nmtrm Frank D.

Stalnaker. nresent the bank. It is interesting to compare the statement of 18S5 with that tf June SO. 1926. Interesting because A name is more man a siruc presiaenx, arnong wnose ovner avory maumvT tare of marble and stone with achievements was that of being achievement, of worthy ice to vaults of steel.

It Is more than co founder, with James W. Ulty. of Indianapolis worthily rendered, an! money and loans and securities. IU the old hardware firm of Lilly of the enduring recojrnitmn of the physical and financial resources SUlnaker. has been engaged In the city, state and nation that such are of unquestioned Importance, banking" business in Indianapolis service merits and.