Davlynn.org
Title
McBee and Mans Family Page
Description
Early in 1908 plans were formulated to establish a new bank in the flourishing town of Francisco, Indiana. It was to be named Francisco State Bank and to have paid-in Capital of $25,000. On its presentation for sale to the public, the stock was promptly subscribed by many substantial businessmen, and farmers. Some of the bank's earliest stockholders were Albert J. Schuh, Hugh Mahan, Marion King, J. Edgar Mauck, Martin Weber, Sr., Henry Rembe, Thomas Eisler, S.R. Davis, James M. Hussey, John Arbuthnot and James Morton Stormont. At the first stockholder's meeting held April 14, 1908, at the Public School Building in Francisco, the following directors were elected: 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. Wm. B. Critser was chosen to be the bank's first Cashier, Dr. D.H. Swan, President and J.R. Morrow, Vice President. Plans for a permanent home culminated in the purchase of the lot where the Town Hall is now located and the building was completed in May 1908. After some bargaining, counters and desks were contracted for and by June 21, 1908, the directors were informed that "business was running satisfactorily." After one year, Dr. D.H. Swan succeeded Mr. Crister as Cashier and held that position until 1910 when J.S. Finch became Cashier. He served until 1920 and resigned and was succeeded by E.H. Weitzel who served from 1920 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 house" was held.
In 1924 the bank was robbed by a small time gambler, named Michel Broshears who lived in Princeton, Indiana. He had been holding up local dice games over the county and decided t go into a more lucrative business. After engaging the Hembree Taxi at Princeton, he ordered 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, he could not find his taxi. Not knowing what to do and taken by complete surprise, he began running down 5th street directly west of the bank. Thelda Reavis, an employee of the bank happened to be working near the rear of the building. Seeing what was going on , ran out the back door. It was said by Mr. Schuh tht her feet never hit the ground from the time she left the bank until she was in the back door of his store. The bank burglar alarm was sounded and the townspeople seeing the man run from the bank, began taking pot shots at him from behind trees, buildings and partially opened doors. He was later captured out beyond the I.O.O.F. Cemetery after a very merry chase and much excitement.
A year well remembered by many in this community is 1933. 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 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 1, 1933, a group of frightened depositors gathered to withdraw their money which was on deposit. No sooner had the "run" started than a car drove up to the bank door and began unloading bags of money. The unusual sight quickly attracted a crowd of on-lookers, who gazed in amazement as bag after bag was carried into the bank. As the last bag was handed from the car, one of the by-standers remarked, "A Hundred Thousand Dollars 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 of 1933.
Contact
-
- LYNN HAVEN FL
- United States 32444-3316
-
- +1.8502651735
