Redlands Savings Bank celebrates 30th anniversary in 1921 – Redlands Daily Facts


[ad_1]
This photo of the First National Bank and Savings Bank of Redlands, southwest corner of State and Orange streets, appeared on June 20, 1921 in the Redlands Daily Facts. (Daily Redlands Facts)

June 20, 1921

Redlands Savings Bank celebrates its 30th anniversary today

Today, the Redlands Savings Bank celebrates the 30th anniversary of its activities in Redlands – an activity that has made a significant contribution to the building of the city and its outskirts.

Organized with a cash capital of $ 5,000, the current capital is $ 75,000 with a surplus of $ 41,000. The staff of the first board of directors included MM. AL Park, FP Morrison, Geo. H. Crafts, Geo. A. Cook, RJ Waters, JS Edwards and HL Drew, with AL Park as chairman and John W. Wilson as secretary.

FP Morrison, also one of the first chairmen of the Savings Bank and the first chairman of the parent institution, the First National Bank of Redlands, and a pioneer resident of the city, continues to have a financial interest in both banks.

The parent institution was organized on March 5, 1887, as the Bank of East San Bernardino Valley, and opened on April 4 of the following year in the George A. Cook building on the southeast corner from Terrace and Orange Street. . He quickly moved to the Wilson & Berry building across the street – where the Casa Loma hotel is now located. On June 25, 1888, a second move was made to the northwest corner of Orange Street and Central Avenue, in the structure now occupied by the Gaume Market.

To celebrate its 30th anniversary, on June 20, 1921, the Redlands Savings Bank added 30 cents to each new account opened that day. This ad appeared on June 18, 1921 in the Redlands Daily Facts, two days before the anniversary. (Daily Redlands Facts)

In 1891, shareholders of First National and Redlands (formerly Bank of East San Bernardino Valley) organized the Redlands Savings Bank. The increase in the activities of the two banks in 1892 required larger premises, so the Sloan House, one of the city’s pioneer hotel buildings, was purchased and renovated to meet the needs of the banking sector. This structure housed the banks mentioned above until the building was demolished in 1914 to make way for the current spacious quarters now occupied. This building is made of reinforced concrete and is perfectly fireproof and modern in every way. It is fully equipped for banking activities, including safes and safes for keeping valuables that cannot be kept in the ordinary way.

Dr MJ Sweeney, Chairman of the First National Bank and Redlands Savings Bank, identified with the institutions during the year 1916. Interviewed by a Face reporter today and asked him to relate something about the past history and future aspirations of banks, he mentioned:

The Redlands Savings Bank was organized primarily to encourage savings and savings in the community, second, to use these savings in lending for development and land, construction of new buildings and general building up of the community.

Its success in these efforts is evidenced by the fact that in its 30 years of existence, it has accumulated deposits well in excess of one million. During this time he helped develop Redlands from a small community to a town of over 10,000. We do not know for sure how many citizens of this community he helped develop a skill through loans. granted on land, housing and commercial buildings, but it can be counted in the thousands, there is no doubt about it. …

Reviewing his long association with these banks, both in his official identification as an executive and as a shareholder, MFP Morrison has the following observations to make regarding the growth of the institutions and the city as well.

My first sight of this valley in 1882 convinced me that it left little to be desired in terms of soil, climate and scenic beauty and that its development would only be a matter of time. Subsequent events justified this opinion. I have great confidence in the future of Redlands. Our natural assets will ensure that we participate in the development of Southern California, which is sure to come.

Editor’s Note: The First National Bank of Redlands building at the southwest corner of State and Orange streets was one of the buildings demolished in 1976 for the construction of the Redlands Mall. The Security First National Bank occupied the building for several years in the 1950s, and the building was later used as an office building.

June 23, 1921

Miss Brauer married to Wesley Break

Yesterday at noon, Miss Hermine Emily Brauer and S. Wesley Break got married in Los Angeles, with the ceremony taking place at the home of her parents, Mr. and Mrs. HO Brauer. The guest company included immediate relatives including Mr. and Mrs. Allen Break and the daughters of Bryn Mawr.

The ceremony was read out by Reverend Charles F. Seitter of the local Methodist Church. The bride and groom stood under an arch of white flowers. Blueberries added a touch of blue.

An orchid satin gown with lace outerwear was worn by the bride, and her shower bouquet consisted of the bride’s roses and lily of the valley.

A wedding dinner followed. The blankets were for 14.

For her wedding trip, Mrs Break wore a beige suit, with a hat, boots and gloves of the same color. Mr. and Mrs. Break will be at home in Bryn Mawr after July 20, where he is foreman of the Fruit Growers’ Exchange.

Ms. Break taught middle school for two terms and made many friends since moving to the city. Mr. Break is a boy from Redlands High School and the son of Mr. and Mrs. Allen Break from Bryn Mawr. During the war he served in the navy.

Editor’s Note: The groom, S. Wesley Break, then served on the San Bernardino County Board of Directors.

[ad_2]

About Wanda Reilly

Check Also

Former Ukrainian governor accuses authorities of abuse of power

Former Central Bank of Ukraine Governor Kyrylo Shevchenko has accused two of the country’s anti-corruption …

Leave a Reply

Your email address will not be published.