Farmer's State Bank of Reardan Records

Farmer's State Bank of Reardan Records, 1909-1959

Overview of the Collection

Creator: Farmer's State Bank of Reardan
Title: Farmer's State Bank of Reardan Records
Dates: 1909-1959 (inclusive)
19091959

1923-1929 (bulk)
19231929
Quantity: 18 linear ft.
Collection Number: SPC 992-0354 (collection)
Summary: Financial records, loan and credit files, reports, and correspondence of the State bank at Reardan, Washington, including merger with the Old National Bank and consolidation as the First National Bank of Reardan, business and liquidation records of the bank from 1909 through 1959.
Repository: Eastern Washington University
Archives & Special Collections
Eastern Washington University Libraries
320 Media Lane - 100 LIB
Cheney, WA
99004-2453
Telephone: 5093592475
archives@ewu.edu
Access Restrictions: Collection is open to the public.
Languages: English

Historical NoteReturn to Top

The Farmer's State Bank of Reardan was organized in 1909 by farmers and business men in and around Reardan, Washington. The incorporators included George Anderson, W. H. Childs, G. H. Finrow, John Nahrt, E. E. Noble, and George Reeves.

During the First World War, the bank was instrumental in Red Cross Fund and Liberty Bond drives, in addition to its regular banking operations. After World War I, the Farmer's State Bank of Reardan was repeatedly criticized by the State Banking Division for its loan program. The State Banking Division felt that too much of the bank's fund were tied up in loans which were poor risks, likely to be uncollectable, or very slow in repayment.

In November of 1925 the Farmer's State Bank and its competitor, the Reardan National Bank, began discussing a merger. In 1929 the Farmer's State Bank began discussing merger possibilities with the Old National Corporation, a Spokane based banking house. At the annual meeting of Stockholders held on January 14, 1930 the matter was put to a vote. A total of 397 1/2 shares were voted, with 341 1/2 shares voting in favor of, and 56 shares voting against a consolidation with the Old National Bank. The Old National Corporation purchased the controlling interest of both of the banks in Reardan, and consolidated them as the First National Bank of Reardan in April of 1930. In 1936 the name was changed to the Reardan Branch of the Old National Bank.

The Farmer's State Bank of Reardan went into voluntary liquidation following the meeting of the Board of Directors held on April 8, 1930. Four of the directors were present: E. G. Ahrens, C. B. Carstens, W. J. Hein, and John Mahrt. They appointed Frank E. Rowland as the Liquidating Agent for the bank. The process began at once, but was not completed until 1959, when all shares of stock in the Farmer's State Bank of Reardan were finally retired.

Content DescriptionReturn to Top

Records and Correspondence: Checks, Correspondence, Credit Files, Drafts, Ledgers, Loan Approvals, Minutes, Registers, Reports of Condition, Stock Certificates, and Tax Returns.

The records of the Farmer's State Bank of Reardan have been divided into four sub groups: Corporate Records; Inter-Bank Relations; General Banking; and Correspondence.

The Corporate Records include the following series: Capital Stock Ledger; Mock Certificates; Stock Assessment Ledger sheets; Minute Books; Reports of Condition; Annual Meeting Records; Dividend Checks; Expense Ledgers; Reports to Federal and State Agencies; Tax Materials; and Liquidªation Materials.

The Corporate Records span the years 1909 through 1961, with the bulk of the material being from 1918 through 1958. Of particular importªance are the Minute Books (1909-1958) containing records of meetings of the corporation's stockholders and directors. Reports of Condition issued to stockholders by the bank, reporting its financial condition at the end of each year for the years 1912-1913, 1915, 1917-1924, 1927-1929, and 1932 were prepared by accountants who audited the bank. The records kept by F. E. Rowland, the Liquidating Agent, cover the activities of liquidating the bank's assets from 1930 until 1961, when the process was completed.

The records of Inter-Bank Relations span the years 1909 through 1959, with the bulk of the material being from 1921 through 1930. These records include: Draft Registers; Drafts; Reconcilement Statements; and a Remittance Register.

The Draft Register (1909-1958) is a listing of the drafts made during that time. The Reconcilement Statements (1921-1930) record the activity of accounts that the Farmer's State Bank of Reardan held with the Federal Reserve Bank of San Francisco; the Old National Bank; the First National Bank of Seattle; and the Chase National Bank of New York.

The General Banking Records include the following series: General Ledgers; Daily Statements; Cash and Day Books; Registers of Bills Receivªable; Ledger and Register Sheets; Loan Approvals; Credit Files; Reports of Condition; Liberty Bond and Red Cross Fund Drive Materials; Unclaimed Contents of Safety Deposit Boxes; and Sample Forms. The period covered is 1909 through 1959, with the bulk of the material running from 1918 through 1930.

The General Ledgers span 1909 through 1959, but much of the material from 1910-1917 is missing or incomplete. The Daily Statements span 1909-1934, and are complete, thus supplying information which is missing from the ledgers of the period 1910-1917. The General Ledgers and Daily Statements provide information about the transactions of the bank in the course of its general business operations. The Loan Approvals (1929-1930) record the amount of money borrowed, and indicate the sort of credit being granted in the area at that time. The Credit Files (1920-1929) include financial statements of worth from the borrowers, most of whom were local farmers.

Correspondence includes four series: General Correspondence (1913-1931); Correspondence with Federal, State and County Agencies (1917-1932): Correspondence with Insurance Companies (1927-1932); and Inter-Rank Correspondence (1917-1930).

The correspondence with Governmental Agencies includes the United States Internal Revenue Service, the Washington State Division of Banking, and several county offices. Much of the correspondence with the Federal and State offices concerns banking practices and operations. The Inter-Bank correspondence concerns transactions between the Farmer's State Bank of Reardan and other banks.

Major correspondents:

Banker's Reserve Life Co.
Carter MacDonald & Co.
Continental Casualty Co.
Continental Insurance Co.
Crum & Forster Co.
Franklin Fire Insurance Co.
Great American Insurance Co.
Guarantee Fund Life Association
Hartford Accident & Indemnity & Fire Co.
International Life Insurance Co.
Lincoln County Auditor's Office
Lincoln County Clerk's Office
Lincoln County Treasurer's Office
Maryland Casualty Co.
Massachusetts Protective Association
National Fire Insurance Co.
National Fire Security Co.
Northwestern Mutual Fire Association
Protective Underwriter's
United States Department of the Treasury
United States Fire Insurance Co.
Washington State Division of Banking
Washington State Insurance Department
Washington State Commissioner of Public Lands
Washington State Tax Commissioner's Office
Washington State Treasury Division
Western States Life Insurance Co.

Most items have been filed in letter cases. Oversize volumes have been filed separately, arranged by sub group and series. Sample Forms have been filed at the end of Sub Group III, and include such items as drafts, checks, savings pass books, credit and debit slips. Oversize and sample items have been listed as such in the arrangement and descripªtion, and note made of their filing location.

Use of the CollectionReturn to Top

Restrictions on Use

Use of this collection is subject to the rules concerning access to archival and manuscript collections at Eastern Washington University. For more information, see: http://www.ewu.edu/Library/Services/Archives.xml

Restrictions on Use

Copyright restrictions may apply. For more information or permission to publish, contact Eastern Washington University Libraries, Archives & Special Collections at (509) 359-2475, or archives@ewu.edu.

Preferred Citation

Farmer's State Bank of Reardan Records; SPC 992-0354; box number; folder number; Archives & Special Collections, Eastern Washington University.

Administrative InformationReturn to Top

Acquisition Information

1992

Detailed Description of the CollectionReturn to Top

I: Corporate RecordsReturn to Top

Container(s)	Description	Dates
Box/Folder
1/1-6	1: Capital Stock Ledger Records the transfer of ownership of stocks. Lists stockholder, date of transfer, certificate number, transfer number, number of shares issued, shares transferred, balance of shares held.	1909-1959
2/1-2	2: Stock Certificates records the number of shares purchased, by whom, and the date of purchase.	1909-1924
2/3	3: Stock Assessment Ledger Sheets Records amount of assessment made against each share of stock, date paid, or it not paid, sale of shares to cover assessment.	1926; 1928
	4: Minute Books Record of the minutes of meetings of Stockholders and the Board of Directors of the corporation.	1909-1958
Box/Folder
2/4		1909-1924
2/5		1924-1958
Box/Folder
3/1-20	5: Reports of Condition Financial reports prepared by the accountants who audited the bank, showing the financial condition of the bank during the past year. These reports were issued to the stockholders of the bank.	1912-1913; 1915; 1917-1924; 1927-1929; 1932
4/1-18	6: Annual Meetings - Proxies and Election Records Records of the election of officers at the annual stockholders meetings. These record shares voted in person and by proxy.
4/19-20	7: Dividend Checks Cancelled checks issued to stockholders in payment of dividends voted by the Board of Directors.	1927
5/1-2	8: Expense Ledger Records the operating expenses of the corporation.	1/13/1915-10/5/1959
	9: Reports to Federal & State Agencies Reports made by the bank to certain agencies of the Federal and State governments.	1916-1930
	Reports to The Federal Reserve Board	1917-1930
Box/Folder
6/1	9.1: Reports of Condition Reports on the financial condition of the bank, made four times per year to the FRB.	1917-1930
6/2	9.2: Reports of Earnings & Dividends Reports how much the bank made in profits, what dividends were paid if any, or if the corporation sustained a loss, and the amount of loss sustained.	1918-1929
	Reports to State Agencies	1916-1930
Box/Folder
6/3-4	9.3: Reports of Condition Reports of the financial condition of the bank, made quarterly to the State Division of Banking.	1917-1930
6/5	9.4: Reports of Earnings & Dividends Reports how much the bank made in profits, what dividends were paid, or if the bank sustained a loss.	1916-1930
6/6	9.5: Reports of Objectionable Assets Reports to the State Bank Examiner responding to assets claimed by the Examiner to be bad risks or losses.	1923-1929
	10: Tax Materials Materials for both County and Federal Taxes. Because the bank owned property, it was forced to pay taxes due the counties the real estate was situated in. Federal income taxes were also paid by the bank.	1912-1959
	Federal Taxes
Box/Folder
7/1	10.1: Capital Stock Tax Returns
7/2	10.2: Corporation Excess Profits Tax Returns
7/3	10.3: Corporation Income Tax Returns
	County Taxes
Box/Folder
7/4	10.4: Detail Lists of Personal Property - Lincoln Co.
7/5	10.5: Tax Bills - Lincoln Co. & Spokane Co.
	11: Liquidation Materials Records and correspondence pertaining to the liquidation of the Farmer's State Bank of Reardan. Also included are checks for expenses in liquidation, checks for final dividends, and files kept by the bank's Liquidating Agent, Frank E. Rowland. Items destroyed: 1) Original Capital Stock Ledger (1909-1912). All of this information was transferred into the Capital Stock Ledger (1909-1959), which is Series 1, and the General Ledger, Series 16. 2) F.E. Rowland's Record of Expenses in Liquidation. This was the Liquidating Agent's personal record of the expenses. All of this information is entered in the General Ledgers which are Series 16.	1928-1961
	11.1: Records and Correspondence	1928-1961
Box/Folder
8/1		1/25/1928-9/26/1932
8/2		10/1/1932-8/1933
8/3		9/1933-8/1934
8/4		9/1934-3/1936
8/5		1922-1961; 1948-1959
Box/Folder
8/6	11.2: Checks In Liquidation	1942-1960
8/7	11.3: Miscellaneous Materials	1950-1959
8/8	11.4: F.E. Rowland - Personal File	1937-1961

II: Inter-Bank RelationsReturn to Top

Container(s)	Description	Dates
	12: Draft Register Records drafts made on other banks, the date and amount of draft, which banks drawn upon.	1909-1959
Box/Folder
9/oversize	12.1: Volume I	11/20/1909-2/28/18
10/oversize	12.2: Volume II	3/1/1918-1930
11/oversize	12.3: Volume III	1931-1959
	13: Drafts These are selected samples of cancelled drafts. Numbers 21-30 were saved from each 100, along with those representing unusual amounts over $100.00. This series has been maintained in the numbered sequence given it by the bank. Filed with Samples, 45, 46.	1917-1930
	14: Reconcilement Statements Record of activity of accounts held with other banks. Reconcilement statements are usually sent out monthly, showing the previous month's activity.	1921-1960
Box/Folder
12/1-10	14.1: Federal Reserve Bank	1921-1930
13/1-12	14.2: Old National Bank	1921-1930; 1955-1960
14/1-10	14.3: First National Bank of Seattle	1921-1930
15/1-10	14.4: Chase National Bank, New York	1921-1930
Box/Folder
16/oversize	15: Remittance Register Lists the amount of loans drawn on banks, and the name of the endorser. Items destroyed: 1) Drafts. Cancelled drafts were selectively sampled. Out of each hundred drafts, numbers 21-30 were retained, along with those drafts representing an unusual sum of money over $100.00. The bulk of the drafts were destroyed. All drafts are listed in the Daily Statements (Series 17), and the General Ledgers (Series 16). 2) Reconcilement Registers. These list all drafts. Because this information is also in the General Ledgers (Series 16), and the Daily Statements (Series 17), there was no reason to retain this series.	1910-1910

III: General BankingReturn to Top

Container(s)	Description	Dates
	16: General Ledgers Record financial transactions by type of transaction, amount, and date. Loans & Discounts, Acceptances, Overdrafts, Bonds & Warrants, Accounts With Other Banks, Expenses, Loss & Gain, Interest Received, Interest Paid, Exchange, Deposits, Cashier's Checks, and Totals are all listed in the General Ledgers. The Original Ledgers, Nos. 17-19, all appear to have been used first by a banker or merchant in Hurdland, Missouri around 1902.	1909-1959
Box/Folder
17/oversize	16.1: Original Ledger I	9/1/1909-6/16/1910
18/oversize	16.2: Original Ledger Ii	9/1/1909-11/11/1910
19/oversize	16.3: Original Ledger Iii	9/1/1909-6/1/1910
20/oversize	16.4: General Ledger	11/16/1909-3/12/1910
21/oversize	16.5: General Ledger (incomplete)	3/1910-3/1918
22/oversize	16.6: General Ledger Vol. I	4/1/1918-12/9/1959
23/oversize	16.7: General Ledger Vol. II	4/1/1918-12/9/1959
	17: Daily Statements A summary of the bank's assets and liabilities at the end of each business day. 5 volumes.	1909-1934
Box/Folder
24/oversize		11/5/1909-8/30/1913
25/oversize		9/2/1913-9/8/1917
26/oversize		9/10/1917-7/30/1921
27/oversize		8/1/1921-8/30/1924
28/oversize		9/1/1924-4/1/1934
	16: Cash Book and Day Book Samples The Cash Book is a daily statement about the amount of cash on hand at the end of each business day. The Day Book is a daily summary of transactions. The information in both of these books is also in the General Ledger and the Daily Statements. The first volume of each has been saved as a sample, and the bulk of these destroyed.
Box/Folder
29/1	18.1: Teller's Cash Book	11/27/11-12/6/1912
29/2	18.2: Day Book	7/1/1918-11/18/1918
	19: Bills Receivable Register A register or notes and acceptances given by customers in payment of debts. Lists maker, endorser, collateral, date due, interest rate, amount of note, and date issued. These volumes have also been used to register Acceptances, and Bonds & Warrants. Later this information was transferred to the General Ledger, Series 16.	1918-1930
Box/Folder
30/oversize		8/14/1918-1920
31/oversize		1921-1924
32/oversize		1929-1930
Box/Folder
33/oversize	20: Register of Discounted Bills Lists maker, drawer, security, endorser, date, length of loan, date due, amount of loan, interest, date paid. Also includes Acceptances 11/1917-5/1918.	1909-1918
	Ledger and Register Sheets Sheets from ledgers and registers. These were removed from largely unused volumes, to retain the records, while reducing their bulk.	1910-1959
Box/Folder
34/1	21: Assets Ledger Lists the resources and liabilities of the bank.	1946-1959
34/2	22: Register of Chattel Mortgages Records loans made by the bank to persons who listed items of personal property as collateral for the loan.	1916-1923
34/3	23: Collection Register A record of loans made by the bank, listing borrower, amount, date of loan, date paid.	1910-1930
34/4	24: "The Practical Collector" Collection Blanks A series of five form letters, each more demanding, requesting the debtor to pay, or be turned over to a collection agency for collection.
34/5	25: Register of Charged Off Notes A record of the value of assets charged off as a loss. Lists name of debtor, date of note, and amount of note.	1919-1927
34/6	26: Register of Safety Deposit Boxes Lists box number, name of renter, amount of rent paid, and date of payment.	1920-1927
34/7	27: Register of Insurance Policies Records insurance policies handled by the bank. Lists the policy number, rate, and insured. Arranged alphabetically by the name of the insurance company.	1923-1925
Box/Folder
35/1-7	28: Loan Approvals Lists borrower, amount of loan, length, interest rate, and signatures of bank officers approving or rejecting the loan.	1929-1930
Box
36	29: Credit Files Kept by the bank on all persons and corporations who obtained credit. Filed alphabetically, they include a statement of worth from the borrower, and some copies of correspondence relating to the loans.	1920-1929
Box/Folder
36/1-62	29.1: Credit Files: "A - G"
37/1-81	29.2: Credit Files: "H - O"
38/1-69	29.3: Credit Files: "P - Z"
	30: Chick Estate File Contains credit file, legal papers, and correspondence regarding a heavily mortgaged ranch whose owner died. The property was then claimed by both the bank and the heir. The heir soon went bankrupt, and a receiver was appointed to manage the ranch for the creditors.	1921-1925
Box/Folder
39/1	30.1: Chick Estate File: Records Correspondence
39/2	30.2: Chick Credit File
39/3	30.3: Chick Correspondence
39/4	30.4: Chick Bankruptcy: Records & Correspondence
39/5	30.5: W.A. Ryder, Receiver: Records & Correspondence
	31: Corporation Reports of Condition Reports of Condition of these corporations, which were filed with the bank, which held an interest in them.	1921-1926
Box/Folder
40/1-4	31.1: Reardan Union Grain Co.	1924-1926
40/5	31.2: Gravelle Farmer's Elevator Co.	1921
Box/Folder
41/1-8	32: Liberty Bond & Red Cross Drive Materials During World War One, the bank was instrumental in selling Liberty Bonds and raising money for the Red Cross. Contains Red Cross and Liberty Bond subscription lists, Liberty Loan cards, and general correspondence.	1917-1918
	33: Safety Deposit Boxes: Unclaimed Contents Items left in the safety deposit boxes of the Farmer's State Bank of Reardan, not claimed by the owners at the time of liquidation. Arranged alphabetically.
Box/Folder
42/1-17	33.1: Safety Deposit Box Contents, "A - F"
43/1-14	33.2: Safety Deposit Box Contents, "G - M"
44/1-17	33.3: Safety Deposit Box Contents, "N - Z"
	34: Sample Forms These are samples of forms used by the bank. Sample Drafts, Series 13, is filed with this collection, as a part of Series 34. Items destroyed: 1) Checking Account Ledger. A record of checking account activity. This information is in the General Ledger, Series 16. 2) Savings Account Ledger. Lists savings account activity. This information is in the General Ledger, Series 16. 3) Register Of Time Certificates. Records Time Certificates of Deposit which are issued at a specified rate of interest, with a specified maturation date, after which the interest stops. These are recorded in the General Ledgers, Series 16. 4) Record-Of-Time Certificates. Same as Register of Time Certificates. Information is in the General Ledger, Series 16.
Box/Folder
45/1-17	Sample Forms, Box I Sample Drafts.
46/1-20	Sample Forms, Box II Sample Drafts, Cashier's Checks, Certificates of Deposit.
47/1-22	Sample Forms, Box III Checks, Savings Pass Books, Credit Slips, Debit Slips, Expense Vouchers, Cashier's Check Stubs, Certificate of Deposit Stubs, Envelopes, and Rubber Stamp Impressions.

IV: CorrespondenceReturn to Top

Container(s)		Description	Dates
		35: General Correspondence General Correspondence has been divided into two sub series: Correspondence Received, and Correspondence Sent. Incoming correspondence is arranged alphabetically, correspondence sent is arranged chronologically.	1927-1930
		35.1: General Correspondence Received	1917-1932
Box/Folder
48/1-8		"A - C"
49/1-7
50/1-9
51/1-5
52/1-8
53/1-6
		35.2: General Correspondence Sent	1917-1932
Box/Folder
54/1-9			1917-1918
55/1-19			1921-1929
56/1-7			1930-1932
		36: Correspondence With Federal, State & County Agencies Correspondence is largely pertaining to banking regulations and operation. Some deals with tax matters, particularly that with the Internal Revenue Service.
Box/Folder
57/1		36.1: U.S. Federal Government Agencies	1918-1930
57/2		36.2: U.S. Department of Treasury	1917-1929
57/3		36.3: U.S. Department of Treasury - IRS	1917-1932
57/4		36.4: Washington State Agencies	1918-1929
57/5-6		36.5: Washington State Division of Banking	1917-1931
57/7		36.6: Washington State Insurance Department	1918-1931
57/8		36.7: Washington State Commissioner of Public Lands	1917-1928
57/9		36.8: Washington State Tax Commissioner	1918-1927
57/10		36.9: Washington State Treasury Department	1927-1930
57/11		36.10: County Agencies: Adams, Benton, Douglas, Grant, Stevens, & Whitman Counties	1917-1929
57/12		36.11: Lincoln Co. Auditor's Office	1917-1930
57/13		36.12: Lincoln Co. Clerk's Ofpice	1927-1929
57/14		36.13: Lincoln Co. Treasurer's Office	1917-1932
57/15		36.14: Spokane Co. Agencies	1917-1930
		37: Correspondence With Insurance Companies Correspondence between the bank and insurance companies which the bank dealt with. In many cases, the bank acted as an agent for these insurance companies.	1927-1932
Box/Folder
58/1		37.1: Banker's Reserve Life Co.	1927-1929
58/2		37.2: Carter Macdonald & Co.	1931
58/3		37.3: Continental Casualty Co.	1928-1932
58/4		37.4: Continental Insurance Co.	1928-1932
58/5		37.5: Crum & Forster Co.	1929-1932
58/6		37.6: Franklin Fire Insurance Co.	1927-1932
58/7		37.7: Great American Insurance Co.	1928-1931
58/8		37.8: Guarentee Fund Life Association	1927-1928
58/9		37.9: Guernsey-Newton Co.	1927-1929
58/10		37.10: Hartford Accident & Indemnity & Fire Co.	1927-1932
58/11		37.11: International Life Insurance Co.	1927-1928
58/12		37.12: Maryland Casualty Co.	1928-1931
58/13		37.13: Massachusetts Protective Association	1928-1929
58/14		37.14: National Fire Insurance Co.	1928-1932
58/15		37.15: National Fire Security Co.	1928-1931
58/16		37.16: Northwestern Mutual Fire Association	1927-1928
58/17		37.17: Protective Underwriter's	1927-1931
58/18		37.18: United States Fire Insurance Co.	1929-1930
58/19		37.19: Western States Life Insurance Co.	1930-1931
58/20		37.20: Miscellaneous Insurance Co.S	1927-1932
		38: Inter-Bank Correspondence This series of correspondence between banks deals with inter-bank transactions. Arranged alphabetically.	1917-1930; 1917-1918; 1927-1930
Box/Folder
59/1		38.1: "A - B"
59/2		38.2: "C - E"
59/3		38.3: "Far - Fed"
	Box/Folder
59/4-7	60/1	38.4: "Federal Reserve Bank of San Francisco"
60/2-5		38.5: "Federal Reserve Bank of San Francisco, Spokane Branch"
60/6		38.6: "Fidelity National Bank"
60/7		38.7: "Fidelity Trust Co. - First National Bank of Wenatchee"
61/1		38.8: "First Seattle Dexter Horton National Bank"
61/2		38.9: "First State - N"
	Box/Folder
61/3-8	62/1-2	38.10: "Old National Bank & Union Trust Co."
62/3		38.11: "Pac - Pul"
62/4		38.12: "R - S"
62/5		38.13: "T - Z"

Names and SubjectsReturn to Top

Subject Terms

Banks and banking--Washington (State)--Reardan

Corporate Names

Farmer's State Bank of Reardan
Farmer's State Bank of Reardan--Records and correspondence

Form or Genre Terms

Bank statements
Correspondence
Credit records
Financial records
Reports

Other Creators

Corporate Names
- First National Bank of Reardan (creator)
- Old National Bank of Reardan (creator)

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