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"History of Eau Claire County Wisconsin, 1914, Past and Present"

Chapter  39 - Banks of Eau Claire County

The First National Bank

(-as transcribed from pages 537 - 538)

The First National Bank, of Eau Claire, was organized in the early seventies with a capital of $50,000, and opened an office at 313 South Barstow street. The officers were: F. W. Woodward, president; William A. Rust, vice-president, and George T. Thompson, cashier. This bank was succeeded by the Bank of Eau Claire, organized under the state law with a capital of $30,000 in April, 1878, with the same officers. On January 1, 1885, F. W. Woodward retired and Mr. Thompson went to the Chippewa Valley Bank. The succeeding officers were: W. A. Rust, president: H. H. Hayden, vice-president, and C. W. Lockwood, cashier. C. W. Lockwood resigned in March, 1897, and was succeeded by James T. Joyce, cashier. Marshall Cousins was also elected assistant cashier. January 1, 1893, the capital of the Bank of Eau Claire was increased to $100,000 and its office was removed to the building which it had purchased and remodeled at the southeast corner of South Barstow street and Grand avenue East. The Bank of Eau Claire and the Chippewa Valley Bank were merged and succeeded by the Union National Bank in July, 1906, with a capital of $200,000. The first officers of the latter were: President, William P. Bartlett; vice-president, James T. Joyce; cashier, George T. Thompson, and assistant cashier, Marshall Cousins. Mr. Thompson died June 14, 1907, and Marshall Cousins was elected cashier at the annual meeting in January, 1908. Mr. Bartlett retired as president and director, declining re-election on January 10, 1911, and was succeeded as president by O. H. Ingram. The Union National Bank occupies the building of the former Bank of Eau Claire, which it has entirely rebuilt and refurnished. Below is given the present official roster of the bank:

Officers: O. H. Ingram, president; J. T. Joyce, vice-president; Marshall Cousins, cashier; M. E. Baumberger, assistant cashier; M. B. Syverson, assistant cashier; Knute Anderson, assistant cashier. Directors: James T. Barber, George L. Blum, Byron A. Buffington, William L. Davis, Nathanael C. Foster, Edward S. Hayes, Andrew H. Hollen, Orrin H. Ingram, James T. Joyce, Herman T. Lange, Sumner G. Moon, George W. Robertson, Kim Rosholt, William J. Starr.

In July, 1878, H. C. Putnam and V. W. Bayless organized the private banking firm of H. C. Putnam Company, and on January 26, 1885, they organized the Chippewa Valley Bank under the state law, capital $30,000, with the following officers: H. C. Putnam, president; George T. Thompson, cashier, with an office on Grand avenue East next to the building now occupied by the Eau Claire National Bank. Later they purchased the building at the corner of Eau Claire and South Barstow streets and elected the following officers: B. A. Buffington, president; H. C. Putnam, vice-president, and George T. Thompson, cashier. This bank then increased its capital to $100,000 and continued in business until it and the Bank of Eau Claire were succeeded by the Union National Bank in 1906.

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