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Encyclopedia Dubuque

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CONSOLIDATED NATIONAL BANK: Difference between revisions

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(New page: left|thumb|300px|Receipt from Consolidated National Bank. Photo courtesy: Bob RedingCONSOLIDATED BANK. Formed in 1923 through the merger of four local banks. On May 15...)
 
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[[Image:imp025.jpg|left|thumb|300px|Receipt from Consolidated National Bank. Photo courtesy: Bob Reding]]CONSOLIDATED BANK. Formed in 1923 through the merger of four local banks. On May 15, 1876, the Second National Bank came into existence. It occupied a building, owned by General [[JONES, George W.|George W. JONES]], which stood at the southeast corner of Main and Sixth [[STREETS]].  
[[Image:imp025.jpg|left|thumb|200px|Receipt from Consolidated National Bank. Photo courtesy: Bob Reding]]CONSOLIDATED NATIONAL BANK. The announcement that three major financial institutions in Dubuque would merge was made on November 29, 1922. The banks involved were the [[DUBUQUE NATIONAL BANK]], [[SECOND NATIONAL BANK]], and the [[DUBUQUE SAVINGS BANK]]. The new bank was to begin business on January 2, 1923. (1) Dubuque National's final steps in joining the other two were announced in December, 1922. (2)


In 1900 the bank erected a new building after its merger with the Dubuque Savings Bank. In 1922 Second National began negotiations with the Dubuque National Bank. In operation since 1884, Dubuque National had only recently acquired the Citizens State Bank. When Second National successfully merged with Dubuque National, the assets of four banks were brought together. The name was changed to Consolidated Bank, although the bank operated under the old charter of Second National.
Combined under a charter as a national bank, the Consolidated National Bank was to have a capital of $500,000; a surplus of $100,000; and deposits in excess of $4,000,000. [[DEMING, Judson Keith|Judson Keith DEMING]] was the president. The board of directors included [[BURCH, James Merrill|James Merrill BURCH]]; [[ROSHEK, John J.|John J. ROSHEK]]; [[SCHRUP, Nicholas J. Sr.|Nicholas J. SCHRUP, Sr.]]; [[BERG, Christopher H.|Christopher H. BERG]]; [[BROWN, Wallace|Wallace BROWN]]; [[MACLAY, John Herbert|John Herbert MACLAY]]; George W. Myers, of [[MYERS-COX COMPANY]]; John W. Schwind, [[DUBUQUE REALTY COMPANY]]; George McLean, president of the Key City Gas Company; D. J. Lenehan, attorney; George W. Kiesel, attorney; Herman Eschen, cashier Second National Bank; and Joseph W. Meyer, cashier Dubuque National Bank. (3)
 
The bank moved into the building occupied by Second National Bank on the southeast corner of Sixth and Main. The merger had been considered for nearly a decade. (4)
 
[[Image:Consolidatedbank.jpg|left|thumb|400px|Bank note]]
[[Image:connatbank.jpg|left|thumb|200px|Calendar and money bag. Photo courtesy: Bob Reding]]
[[Image:consolidatednb.jpg|right|thumb|350px|Photo courtesy: Bob Reding]]
[[File:conbank.jpg|300px|thumb|right|thumb|Photo courtesy: Bob Reding]]
[[Image:connatbank1.png|left|thumb|250px|]]
See: [[BANKS AND BANKING]]
 
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Source:
 
1. "Deming Will be President; Big Assets Pooled," ''Telegraph Herald'', November 29, 1922, p. 1
 
2. "Bank Merger Will Be Effected Jan. 1," ''The Telegraph-Herald'', December 31, 1922, p. 15
 
3. Ibid.
 
4. Ibid.


[[Image:Consolidatedbank.jpg|left|thumb|300px|Bank note]]


[[Category: Banks]]
[[Category: Banks]]

Latest revision as of 15:43, 21 August 2017

Receipt from Consolidated National Bank. Photo courtesy: Bob Reding

CONSOLIDATED NATIONAL BANK. The announcement that three major financial institutions in Dubuque would merge was made on November 29, 1922. The banks involved were the DUBUQUE NATIONAL BANK, SECOND NATIONAL BANK, and the DUBUQUE SAVINGS BANK. The new bank was to begin business on January 2, 1923. (1) Dubuque National's final steps in joining the other two were announced in December, 1922. (2)

Combined under a charter as a national bank, the Consolidated National Bank was to have a capital of $500,000; a surplus of $100,000; and deposits in excess of $4,000,000. Judson Keith DEMING was the president. The board of directors included James Merrill BURCH; John J. ROSHEK; Nicholas J. SCHRUP, Sr.; Christopher H. BERG; Wallace BROWN; John Herbert MACLAY; George W. Myers, of MYERS-COX COMPANY; John W. Schwind, DUBUQUE REALTY COMPANY; George McLean, president of the Key City Gas Company; D. J. Lenehan, attorney; George W. Kiesel, attorney; Herman Eschen, cashier Second National Bank; and Joseph W. Meyer, cashier Dubuque National Bank. (3)

The bank moved into the building occupied by Second National Bank on the southeast corner of Sixth and Main. The merger had been considered for nearly a decade. (4)

Bank note
Calendar and money bag. Photo courtesy: Bob Reding
Photo courtesy: Bob Reding
Photo courtesy: Bob Reding
Connatbank1.png

See: BANKS AND BANKING

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Source:

1. "Deming Will be President; Big Assets Pooled," Telegraph Herald, November 29, 1922, p. 1

2. "Bank Merger Will Be Effected Jan. 1," The Telegraph-Herald, December 31, 1922, p. 15

3. Ibid.

4. Ibid.

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