A. H. Wolf and George H. Boyson, having disposed of their interests in 1903, at the annual election held January, 1904, C. L. Miller and George G. Grupe were elected in their places.
T. McCarthy, on account of his health, did not desire a re-election as president, and E. W. Virden, having accepted a position in Louisiana, caused a vacancy in the presidency and cashiership. At that meeting the following officers were elected: H. E. Witwer, president, J. J. Powell and Fred H. Shaver, vice-presidents; and John Burianek, Jr., cashier. On January 9, 1906, at the annual meeting, Mr. Redmond being unable to serve as a director, did not desire re-election and in his place John Burianek, Jr., was chosen. On the death of J. J. Powell in 1908, Wm. King was chosen one of the vice-presidents. The directors now are H. E. Witwer, T. McCarthy, F. H. Shaver, G. G. Grupe, Wm. King, C. E. Tuttle, E. S. Seeley, John Burianek, Jr.
Originally this bank had 83 stockholders, the number now being 53. It has a surplus of $25,000, undivided profits of $10,000, and deposits of nearly $900,000.
Early in 1911 the bank will occupy its new building on the corner of First street and Third avenue west, one of the handsomest in the state.
The Cedar Rapids National Bank was incorporated February 28, 1887, and succeeded to the business of G. F. Van Vechten, banker. The original directors were A. T. Averill, Geo. B. Douglas, G. F. Van Vechten, Joseph S. Cook, C. Magnus, J. M. Ristine, and C. B. Soutter. Changes in the board of directors have occurred as follows:
In 1888 P. E. Hall succeeded J. M. Ristine. In 1891 Ralph Van Vechten succeeded C. Magnus. In 1896 Mr. Magnus was reelected to succeed C. B. Soutter. In 1899 Ed. H. Smith was elected to fill the vacancy caused by the death of J. S. Cook. In 1906 P. E. Hall was succeeded by J. H. Ingwersen. In 1906 C. Magnus retired from the board, and in January, 1907, J. M. Ristine was elected to fill the vacancy. In 1909 C. D. Van Vechten was elected to fill the vacancy caused by the death of G. F. Van Vechten, and in 1910 Glenn M. Averill was elected to fill the vacancy caused by the death of his father, A. T. Averill.
The present personnel of the board is as follows: Ralph Van Vechten, Geo. B. Douglas, Ed. H. Smith, J. M. Ristine, J. H. Ingwersen, C. D. Van Vechten, and Glenn M. Averill.
The original officers were A. T. Averill, president; G. F. Van Vechten, vice-president; Ralph Van Vechten, cashier. A. T. Averill served continuously as president until his death in 1910, and was succeeded in office by Ralph Van Vechten. G. F. Van Vechten was vice-president until the time of his death, which occurred in 1909, and he was succeeded in office by Geo. B. Douglas. In February, 1905, Ralph Van Vechten resigned his position as cashier, to assume the second vice-presidency of the Commercial National Bank of Chicago. At that time he was elected to the position of second vice-president of the Cedar Rapids National Bank, being succeeded as cashier by J. H. Ingwersen. In 1908 Mr. Ingwersen resigned as cashier to accept the presidency of the Peoples Trust and Savings Bank of Clinton, Iowa, and Kent C. Ferman, who had been assistant cashier since 1904, was appointed cashier. In 1904 John Fletcher was appointed assistant cashier, and Miss Anna Smouse auditor. In 1906 Mr. Fletcher resigned to accept the assistant cashiership of the Drovers Deposit National Bank of Chicago. In 1908 Louis Visha was appointed assistant cashier, and in 1909 Martin Newcomer was appointed as assistant cashier.
