Butte County
Biographies
SACRAMENTO VALLEY BANK
SACRAMENTO VALLEY BANK.--Prominent and most effective among the agencies
that have contributed to the commercial upbuilding of
the city of Biggs and vicinity will always be reckoned the Sacramento Valley
Bank, one of the largest, safest and best financial institutions in the Sacramento
Valley, having been incorporated under the banking laws of the State as far
back as 1891. Prior to that eventful year the bank was a private enterprise
known as the G. K. Smith Bank; and having been operated for several years it
already had a large patronage. In 1903, Mr. Smith retired as cashier.
The building of this progressive concern
is located at the corner of B and Second Streets and was erected in 1908. It is
an imposing structure of cement, although it rises only to the height of one
story; and there are fire-proof and burglar-proof vaults and safes. Such are
the provisions that have been made by its managers that it has some two hundred
safe deposit boxes, while the vault has a Hall and time-lock safe, contributing
greatly to the absolute security of the arrangements. Located in an excellent
grain, rice and stock country, its deposits at times amount to quite half a
million dollars; and this prosperity is evidenced by the furnishings of the
establishment and the details of its methods, designed to accommodate and
assist its appreciative customers. A great deal of the success of this
institution is undoubtedly due to the fact that it is widely understood that
the bank seeks to further the welfare of its depositors, in whatever way and
whenever it is possible to do so. A branch of the bank, built some four years
ago at Butte City, well serves that community and district. This branch is in
charge of John H. Brough.
The present officers of the Sacramento
Valley Bank are as follows: President, J. M. Hastings; vice president, Samuel
McKee; secretary, J. A. Foster; treasurer and cashier, John M. Brough. In B. F. Lucas, a wide-awake and promising young
man, the bank is fortunate in having a most efficient and gentlemanly cashier.
The directors are: J. M. Hastings, Biggs; Walter M. Smith, Oroville; Samuel
McKee, Biggs; J. A. Foster, Biggs; and John M. Brough,
Biggs.
In the spring of 1917, the resources of
the Sacramento Valley Bank totaled over $640,000, its loans and discounts
amounting to $520,000, while it had a capital stock paid in of $60,000, and a
surplus of $15,000.
Transcribed
by Marie Hassard 21 May 2008.
Source:
"History of Butte County, Cal.," by George C. Mansfield, Pages 984-987, Historic Record Co, Los
Angeles, CA, 1918.
© 2008 Marie Hassard.
Golden Nugget Library's Butte County Biographies