The Courier News from Blytheville, Arkansas on October 10, 1950 · Page 8
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The Courier News from Blytheville, Arkansas · Page 8

Blytheville, Arkansas
Issue Date:
Tuesday, October 10, 1950
Page 8
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SECTION A—PAGE EIGHT HEADS BANK - B. A. Lynch (above! is presently serving his 28th year as president of the Farmers Bank anrt Trust Company here. Farmers Bank Is Oldest And Largest in Missco ..One of the oldest institutions that has been rendering consistent financial service for Blytheville and the surrounding area down through the years U the Farmers Bank and Trust Company. And it Blytheville and Mississippi County have grown in stature agriculturally, this Institution has kept pace economically until today it has taken its place with the top-ranking banks of the state and u now the largest bank in Northeast Arkansas. Established more than forty years ago. the Farmers Bank also holdi the distinction of being the oldest bank In Mississippi County. The Fanners Bank and Trust Company was set up in 1908 on the . corner of Second and Main in the ,'. building now occupied by the Kirby Drug Co, It was established with a capital stock of (10,090, and P. M. : Carpenter became the first prcsl- ' dent. Mr. Carpenter served for six years, End on Jan. 30, 1914, was succeeded by B. P. Gay. At this same time, directors of Farmers Bank decided • to increase their capital stock to ;• 115,000. : Capital Stock Growl Continued development of Mississippi County into a great agriculture area brought to this vicinity ' many new investors, and, assisted -, by a war-made prosperity, Blytheville and the surrounding communities reached economic heights never before dreamed of. . ; Farmers Bank continued to grow with Blylhevillc and Mississippi , County and in 1916 the capital stock .was Increased to $25,000. The bank , moved to new quarters in the bulld- : Ing more recently occupied by the i Ritz Theatre. By the time Will Pyles had oe- , come president in 1919. the capital i stock had climbed to (50,000 and the pre-war economic boom was in . full sway. It became necessary for . bank officials to look about tor ' larger quarters to handle the «nor ;• mous demands that prosperous time j thrust upon them. In 1920, the present site at Broad : way and Main was decided upon The existing building and two sma houses behind it were razed and i a short time the bank had a nei ; home in a spacious building it shar : ed with the Ark-Mo Power Com pany and a number of other store and offices. Lynch Named Pmldent A new era was born for (he ban In 1922 and when B. A. Lynch B , :E. Lee Wilson and several other acquired control. Mr. Lynch, who had been in th , Insurance business In Blythevill for some time, was at that tim , serving the second of a three-yea sppolntment as * special deputy bank commissioner. • Because of hi* wide experieno In the banking field the board o directors promptly tlected him pres ident. How well he waa fitted for the Job can be seen In the fact today— : 28 years later—Mr. Lynch still holds • that position fo which he was eleo- ! ted back in 1922. /Capital Stock waa increased to •«100,00p in 1932 and several years plater zoomed to $150,000. ' •~.,.,?? I ? 1 S- ' he dc P re ssion of the early thirties and the economic outlook of the country hit a new low as everywhere banks wej-e closing their doors. But the Farmers Bank weathered the storna and remained -.• open throughout those fateful days • Only during the three-day banking holiday declared by President . Roosevelt In 1932 did the Farmers Bank close itt doora. Become* Home-Owned In, 1935, Mr. Lynch and several : ethers secured the holdings of the Lesser-Goldman Interests of St Louis who had bought stock back '. ui 1022. This m-oup also bought the stock owned by the Wilson • heirs, an'd the bank was entirely In the hands of Blytheville men. when Mr. Lynch assumed duties »s bank president, Farmers Bank had deposits totaling $381,000. At the close of business on Dec 31 1349, . deposits amounted to $10 •: S-i2.030.33, a gain of more than flO.000,000. A later report released June 31 ; of this year shows a drop in deposits to 57,823.956.31, but bank , Officials have an explanation for this. They point out that since this area is predominately agricultural. ' the decline in deposits is purely seasonal. Deposits are low durfn" . planting time and remain thus un- : til crops arc harvested. After crops are sold, deposits again climb. Al the end ot 1049 the Farmers Bank, a member of both the Federal Reserve System and the Fed' eral Deposit Insurance Corporation ;. was ranked i,5Mth In the nation by "American Banker" a paper published in New York for the nation's bankers. : Third Largest In Slate It was one of nine banks In the state—not counting four Little Roik banks - with deposits ot over , $10,000.000. and was the third ; . largest state bank In Arkansas Only the Worlhern Bank and Trust Company of Little Rock and , the Arkansas Trust Company of ; Hot Springs outranked it. The nine-member board of directors includes J. L. Cherry. Dr. I. • R. Johnson, Loy H. Welch F E warren, c. -A. Cunningham. B 's ' Simmons, Mr. Lynch. Charles C Langston and R. A. Porter. Officers are Mr. Lynch, president; R. A. Porter, vice-president- P. E Warren, vice-president; R L Banister, cashier; B. P. Brogdon H. N. Whith and L. A . Crowe, assistant cashier; and O. H. Robson, manager of the Insurance department. Three of these officers, Mr Lynch. Mr. Warren and Mr. Banister, along with Miss Ellen Bryan, secretary, have each given more than a quarter of a century of their service] to the bank. BLYTHEVILLE, (ARK,) COURIER NEWS TUESDAY. OCTOBER 10, i 9Rr) FAltMKIts BASK-Abovc Is an interior view of ;he Fanners Bank and which is the Inrgcil and oldest oank in Mississippi County. Black Alley, famous old shortcut In Boston's west end. tunnels ue- i nco'h a synagogue between Cham- ] neis and Loveietl streets. ' I Mexico Cliy Is now known as Mexico. D. p., oy governmental de- cror The D. F. signifies "distrito federate," nr federal district. The cheetah, or hunting leopard, ol Africa. Is credited with being the fasten four-footed animal In the »" r'd Mr short distances. Blytlwille Didn't Feel Like 'Sunny South' in 23-Inch Snowfall of 1918 Baby, It was cold outside In Blythcville on Jan. 12, 1918, The mercury sank to a teeth- chattering, bone-shaking 16 degrees below zero. And during the period from Dec 14, 1817, to March 1, 1018, the snow at one time was piled 23 inches deep on the lawns and streets of Blytheville. This 23-inch depth, believed to be tlic deepest snow has fallen here, was measured on level ground, not In hollows or sunken spots. Snow began falling Dec. 14 according to O. N. Hawkins of Blytheville, owner of these pictures, and residents of the city didn't see the ground again— 1915— Walter Driver Reports Wheat Crop Harvest of 126 Bushels Per Acre From the AUK. a. 1915. edition of the Blytheville Courier: Walter Driver states tliat his ICO acres of wheat threshed out an averse of 12G bushels per acre I -in spring he soivctl alflfa ivith U, iluis insuring a wcedlcss field of Hie latter, imcl lust a month from the lime he cut his wheat tie cut 80 tons of nlfaltn liay from tine same field. This is a fine yield tor a fn-si cutting, and demonstrates that the resources of Mississippi County soil arc unlimited when the farmer mixes wllh his crops. without shoveUni mow - until March 1 rolled wound. Although not shown at 1U deepest, some o( this protracted mow- fall was on the »round when th«, two pictures above were taken. The house in the picture »t right Is now owned by Blythevllle's Mayor Doyle Henderson and I* located »t 1001 West Ash. At left Is a snow scene looking west on Ash Street, which in 19K was known as Chlcafo Mil) Block. 1910— Water Franchise Proposals Asked Prom the Sept. », l»10. edition of the Blylhevllle Dally Mews: The City of Blytheville, Arkans a<> will receive propositions for water works, on a franchise basis, up to, and Including the 15th day of Octq.' her, 1»10. This l»th day of September, 19io T. W. Davis, Mayor Snow tcenes In Bl>lhe\llle. winter of 1911-lg Icing, which makes flying hazardous In winter, sometimes Is en- w.mtcrcd at high altitudes even In 4 u miner. A PICTURE IS WORTH A THOUSAND WORDS .SEAYll USUV? In 1950 ... Our Building and Service Station at 121 East Main TO SHOW YOU THE PROGRESS OF YOUR CHRYSLER-PLYMOUTH DEALER IN BLYTHEVILLE From (he fi me T. I. Scay became your Chrysler- Plymouth dealer in U)3S, our progress has moved right along with fasf growing Bl.vtheville. You can see it in the new building (he enlarged, excellently equipped repair the attrac- live service station. And you can see this pro- gres's in Ilic graceful lines of (he beautiful 1950 Chrylcrs and I'lynioulhs. Yet, we're proud ol this progress, litit we know that all (he credtl choulrl be given (o our customers .and we appreciate the patronage that has made it possible. I t In 10-11) . . . Our Building at 121 West Ash T. I. SE AY MOTOR COMPANY l2l East Main Sfreef T-_I__I ii<t«k Telephone 2122

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