The Butler Weekly Times Newspaper, January 11, 1917, Page 1

~ The Butler VOL. J. B, WALTON TO BANK AND stock holder. XXXIX. 5 "istoricg, ciety wie S, BUTLER, MISSOURI, THURSDAY JANUARY 11, 1917. NUMBER 13 TRUST COMPANY PRESIDENCY PROMINENT YOUNG FINANCIER SUCCEEDS WM. E. WALTON WHO RETIRES AFTER FORTY YEARS IN LOAN AND BANKING BUSINESS. J. B. Walton was elected President of both The Walton Trust Co. and the Missouri State Bank at the annua! election of officers and directors held Thursday, January 4, 1917. Mr. Walton suc- ceeds Wm, E. Walton, who for forty years has been the head of one of the leading financial institutions of this section of the state and the oldest bank in Bates County. G. M.. Hargett, a well known young banker of Versailles, Mo., who for the past four years has served as State Bank Examiner, succeeds J. B. Walton as Vice President. The retirement of Wm. E. Walton and the selection of J. B. ‘Walton to head the two great financial houses came at the annual stockholders meetings of the two institutions when Wm. E. Walton made the following statement: Butler, Mo., Jan. 4, 1917. | ‘fo the Stockholders of the Mis- souri State Bank and The Wal- ton Trust Company: Gentlemen— I came to Bates county forty- seven years ago, and from the county records made. a set of title abstract books’ and com- menced the business of lending money on farms and selling the mortgages to money lenders. At the end of ten years I had built up a large and profitable business in my name. I had no partners. Then I, with others, organized this bank. Dr. Boul- ware, Mr. Dutcher, John Deer- wester and myself are the only original stockholders now living. Prior to this time the > Bates County National Bank was the only bank in Bates county, and held the entire banking business of a big territory. Since the or- ganization of the Missouri State Bank 36 years ago I have been either its cashier or president the entire time and always the largest It now has fifty thousand dol- lars capital and forty thousand dollars in the surplus and profit makers, and~ have always paid good dividends twice a year to stockholders. Our twenty-three employees have had many years of experi- tenee in the banking and mortgage loan business and are capable and | reliable. ; On account of age and long ser- vice, 1 will to-day ask the diree- i tors to stop paying me the salary ‘that I have heretofore received and not re-elect me as president of the Bank or Trust Company, \but elect my nephew, J. B. Wal- ton, as president of both institu- | tions. He has had long experience in the business, is the largest stock- holder in both corporations, has been vice-president of both for several years. He is a successful safe business man and has proved himself competent. Ihave no doubt as to his ability to fill both positions with credit to himself and your satisfaction. : I will continue as a stockholder and director in thee Bank and Trust Company and keep in touch with the business. The Walton Trust bears my name. Company J. B. WALTON Newly elected President of the Missouri State Bank and Walton Trust Co. accounts. It is the cldest bank in Bates county, and [ have spent more years in the banking business than any other man in the county. The last published official state- ment of the sixteen banks’ and trust companies of Bates county, made to the Missouri State Bank Commissioner on November 17, 1916, showed -the Missouri State Bank had in deposits four hun- dred and thirty-nine thousand six hundred and fifty-four dol- Jars. This was larger than were the deposits of any other bank or trust company in Bates county. Twenty years ago The Walton Trust Company was organized, and became the owner of my title,!The Walton Trust Company are abstract and loan business. Its!sound financially, have the con- capital, surplus and profit ac-)fidénce of the public, are money ne fifty-eight thousand and five hun- dred dollars, and has over ten million dollars in mortgage loans on its books. During forty years of continu- ous business of lending money on farms and selling the mortgages to savings banks, trust companies, life insurance companies and to hundreds of: individual money lenders we have handled many. thousand mortgages, aggregating millions of dollars and never al- lowed any mortgage buyer to lose a dollar of principal or interest, or. pay- anything for expenses. The Missouri State Bank and Whe retires as Precident of the Missouri Stite Bank and Walten } counts are now four hundred and | “|M. MeGovern and Judge A. B. Ce. | Levy and C. A. McComb. I organized it and the Missou- ri State Bank a long time ago and gave them forty of the best years of life. They are my monuments, com- memorating the achievements of a busy life. I hope and_ believe they will stand with honorable suceess for many years after I am gone. Iam _ seventy-four years old, and willing Yo give up the salary and be relieved of the work and eare. Am free of debt and have money enough to comfortably keep me and mine to the end. WM. E. WALTON. Officers and Directors Elected. The stockholders of the Mis- souri State Bank elected the fol- lowing officers and directors. Officers: J. B. Walton, President. John-Deerwester,Vice ..Presi- dent. Jesse E. Smith, Cashier. Wesley E. Black, Ass’t. Cashier. Walter B. Catterlin, Ass’t. Cashier. r Miss Nixie McLees, Clerk. Directors: Wm. E. Walton, J. B. Walton, Jesse E. Smith, C. H. Dutcher, W. M. Hardinger, John Deerwester, W. B. Tyler, Dr. T. F. Lockwood, Dr. T. C. Boulware, Judge R. B. Campbell, Judge Clark Wix, J. j Owen. The stockholders of the Walton Trust Co. elected officers and di- rectors as follows: Officers : J. B. Walton, President. G. M. Hargett, Vice President. Frank Allen, Secretary. . W..J. Nix, Assistant Secretary. Directors: Wm. E. Walton, J.’ B. Walton, Frank Allen, J. Choate, John . Deerwester, G. M. Hargett, C. H. Dutcher, Paul B. Employees—Miss Linda Nix, Freeman Walton, Miss Jessie Nix, Mrs. Grace Walker, Earl Earsom, R. E. Mooney, C. 8. Ewin, R. C. Burris, Victor Burris, Ivan Ray and C. A, Allen. Strong Institutions. The Missouri State Bank, which has the distinction of being the oldest bank in Bates county is one of the strongest in this see- tion of the state. Since its organ- ization thirty-six years ago it has had a healthy, steady growth up to the present time and the last official statement of the bank shows deposits of over four hun- dred and thirty-nine thousand dollars and a surplus and profit fund of forty thousand dollars. The capital stock of the bank is #50,000.00. The officers and em- ployees of the bank are well known to our people as honorable, substantial citizens, all of whom have held positions of responsibil- ity and trust ably and efficiently, and who have contributed large- ly to the success of the institution by their unfailing courtesy, good business judgment and jaccomo- dation. The Walton Trust Co., which as a financial institution, ranks in a class hy itself in rural Missouri, was organized about twenty years [ago and is the outgrowth of the Jabstract and loan business organ- ized by its former president, Wm. K. Walton forty years ago and since its organization although millions of dollars of loans have heen handled for investors, no purchaser of any mortgage or loan made by them has been al- lowed to lose one cent of princi- pal or interest. The capital, sur- plus and profits of The Walton Trust Company now amount to nearly half million of dollars and there is now on the books of the company loans aggregating over ten million dollars. New President A Young Man. J. B. Walton, the newly elected president of the institution, al- though a young man has, by his aggressive ability, foreed for him- self a recognition in financial cir- cles throughout the country as one of the substantial financiers of the middle west. Through his intimate acquaintance with eastern capital he has — iden- tified himself with the lead- ing financiers of the country and has been elected a member of the Board of Governors for the Farm Mortgage Association of America. For several years he was an active member of the firm of Walton and Walton of Hobart, Oklahoma, from which in- stitution he retired in 1908 when he became actively identified with the Missouri State Bank and Walton Trust Company, at which time the Hobart Daily Democrat says in part: — “Since coming here, J. B. Wal- ton, as a young Business man, has reflected credit upon the business cireles of Hobart. No firm has been more - favorably known throughout the Southwest than Walton & Walton, and the reputa- tion they have made as a mort- gage firm is second to none in Ok- lahoma. This has been due, how- ever, to the personality of the Waltons, whose names have stood for.the cleanest.of.methods in ev- ery detail of business. It is with exceeding regret that J. B. Wal- ton retires from the busines cir- eles of Hobart. The absence of such as he will be felt, but nowa- days banking institutions are looking for such men, and it is no surprise that he goes to one of Missouri’s strongest banking in- stitutions as its cashier. In the organization of modern commerce and industry the need for men with sound business principles and judgment are required, and nothing but the best will do. It is being constantly emphasized in the active transaction of daily business, that the welfare of trade depends, in a large measure, upon entrusting the affairs of the monied institutions to the hands of those who contribute both abil- ity and confidence. It is, indeed, & compliment to our fellow towns- W.|man who has thus been honored with the active management of an institution which carries average resources of an amount approaching an half-million dol- lars. This is a large responsibil-|IT I8 GOVERNOR GARDNER ity on young shoulders, but J. B. Walton will make good in every sense. He is accustomed to big transactions. His loan business has widened his experience along this line. He has met annually in the Eastern markets those who represent millions, and the hand- ling of money and the judgment of men have become to him sec- ond nature. While Mr. Walton has the confidence of those of his home town, it might be said also, in this connection that the bank is to be congratulated, also, upon se- curing his services. With regret upon the part of hundreds of friends here about do they say good bye to Mr. and Mrs. Wal- ton.”’ Vice President Former State Bank Examiner. G. M. Hargett of Versailles, Missouri, who sueceeds Mr. Wal- ton as Vice President of The Wal- ton Trust Company, has for sever- al vears been actively identified with the banking business in cen- tral Missouri and for the past four years has served as State Bank Examiner, accepting an ap- pointment to that place under J. , Mitchell State Banking Com- missioner in 1913. He has a wide acquaintance in banking and busi- ness circles throughout the state and is thoroughly conversant with banking in all its branches. He is an efficient, honorable gen- tleman and the friends of the in- stitution will weleome his connec- tion with the Trust Company. The directors and employees of The Walton Trust Company have been selected for their substan- tiability, their good standing in the community and their excellent business judgment, and the public places the utmost confidence in their integrity and efficiency, Banquet’ to Retiring President. The offieers and employees of the Missouri State Bank and Walton Trust Company tendered a banquet to Wm. E, Walton, the retiring president. of the ‘institu- tions, at the Elks Club Thursday evening, January 4th, The banquet réom was beauti- fully decorated and — thirty-five plates were served Dy the: ladies of the Baptist church. After an claborate dinner those present were called upon for talks and all responded aptly and appro priately. A Wonderful Career. In retiring from the presidency of the two great institutions of which he was the founder and for so long the head, Mr. Walton rounds out a business record of successful activity and aceom- plishment such as few men attain, Coming to this county at an ear- ly day, a vigorous young man whose chief capital was his good health and ambitious determina- tion, he has builded for himself a monument in the — institutions which he founded and _ fostered through their days of infancy. Wm. E. Walton was never a plunger and no glittering fanciful scheme of sudden riches ever en- ticed him. The secret of his suc- cess has been economy, efficiency and legitimate business endeavor behind which has stood “his” own good name which for seventy- four years he has kept untarn- ished and respected. In laying down his burdens of business ac- tivity to enjoy the fruits of his labors, Mr. Walton does so in the prime of a vigorous old age, ac- tive in mind and body.with a keen enjoyment of life as it is and the pleasure of having lived it. Harley Smith Buys Fraternal Inn. Green Brothers, who have been conducting the Fraternal Inn of this city for the past several years, have sold out to J. H. Smith, who took charge Tuesday night. z Mr. Smith has for some time been engaged in running a hack and bus line between town and the depot. He has a wide ac- ‘quaintance with the traveling public and there is no doubt but closely | that he will make a success of the hotel business. { Oath Administered to New Gov- ernor by Judge Graves. Jefferson City, Jon? 8.—With the booming of cannon and mar- tial strain from a ‘band, Col. Frederick D. Gardner of St. Louis, became Missouri’s govern- or at noon today. ‘ He took the oath of office shortly after 12 o’clock, out sof doors from a platform erected a short half block from the tower- ing new capitol. He was the first Missouri governor to be in- augurated outside the capitol building. The day was perfect, the crowd large. The inaugural crowd, estimat- ed at from 7,000 upward, forced a change in plans. The museum hall, decorated for the inaugur- al ceremony, was abandoned at the request of Colonel Gardner this morning, when he was_ in- formed of the hugh crowd and the lack of accommodations in the new capitol. A stand was hurriedly erected a short way from the capitol. ‘Led by Kelly’s band of Kan- sas City, the inangural parade wended its way through the crowd from the mansion to the stand, two blocks away. The officers of the National Guard in full uniform, the colo- nels on the military staff of the new governor, resplendent in uni- forms of go!d braid, stood at at- tention in an aisle through which the governor and the legislature passed. Shortly after 12 o'clock Retir- ing Lieutenant Governor Painter called the joint assembly of the legislature to order. The governor’s party ap- proached while a band posted on the slope a short way off, swung into ‘Dixie,’ while the crowd cheered. ; 5 Adjt. Gen. Arthur. Donnelly and Chief Justice W. W. Graves led the party. Governor-elect Gardner followed with retiring Governor Major. Mrs. Major and Noah W, Simpson, Colonel Gard- ners secretary, and Mrs. Gardner, and: Newton Williams, GoVernor Major’s secretary, followed. At 12:20 Governor-clect Gard ner arose amid wild cheering, placing his hand on his Bible. of hoyhood days, took the oath of of- fice, which was administered by Chief Justice Graves. The Bible npon which Colonel was a present to him from his Sunday schoo! teacher July 1, 1886. On the fly leaf in pencil are the following words: ‘‘Pre- sented to Freddie Gardner by his Sunday school teacher, B. H. Bansford, Methodist Church, South, Union, Tenn,’’ On the op- posite fly leaf Judge Graves penned the “following words: “Jefferson City, Mo., January 8,- 1917. The oath of office as Gov- ernor, was administered this day to Frederick D. Gardner upon this Bible by the undersigned. W. W. Graves, Chief Justice of the Missouri Supreme Court.”’ The book is a small one, de- signed for carrying to Sunday school or church. It is bound in Morroceo and on the cover is stamped in gold letters: ‘‘Fred- die Gardner, Union City, Tenn.”’ The New County Judges. After a session devoted to rou- tine matters the county court ad- journed Saturday. It was the first time that Judge Reeder had sat with the court. He takes hold as though he is going to make a record for himself. Judge Low- der, the other member elected at the recent election, is serving his second term and the work was not new to him. Judge Lowder has proven himself one of the best county judges that Bates county ever had, and that is say- ing a great deal. He is a good business man, careful and pains- taking in his conduct of the coun- ty’s affairs and when a bill against the county has the 0. K. of W. H. Lowder it is certain to be all right. During his adminis- tration the new county infirmary was built and it stands as a mon- ument to the business ability of the members of the county court. Gardner took the oath of offiee bes mie