DIVISION FOUR- 



BOOM. 



299 



This bank was custodian of the $6,061.50 indemnity pledge fund put 

 up by business men of Pasadena in 1887, to secure their prohibitory ordi- 

 nance and sustain it through the courts. [See page 248.] 



In January, 1S89, Mr. Swartwout retired and was succeeded by A. H. 

 Conger, as cashier. Then in January, 1891, Mr. Conger resigned, in order 

 to take the position of cashier in the First National bank ; and he was suc- 

 ceeded by T. P. lyukens as cashier. In 1888 the capital had been increased 

 from $50,000 to $100,000. 



In January, 1895, this bank moved into its magnificent new rooms in 

 the Masonic temple, corner Raymond avenue and Colorado street ; and on 

 Saturday, January 26, the officers and directors received their friends there 

 for the first time, to inspect the very complete provision they had made of 

 every known device for burglar-proof safety of vaults, and for comfort, ex- 

 pedition and accuracy in carrying on the business. The L,os Angeles 

 Times reported that the vault foundation was of concrete five feet thick, 

 with 5,000 interlinked old horseshoes worked into the mixture. At my re- 

 quest the following chronological exhibit was furnished from the bank 

 records to accompany this historical sketch : 



Pasadena National Bank, Incorporated October 11, 1886. 



REMARKS. 



Officers : President, Hon. T. P. I^ukens ; 

 Vice-president, Wm. Stanton ; Cashier, E. 

 B. Jones. 



Board of Directors : G. Roscoe Thomas, 

 L. P. Hansen, Wm. Stanton, James Cam- 

 bell, E. E. Jones, Hon. T. P. Eukens. 



I 



Savings Banks. — In 1887 C. T. Hopkins opened the first Savings 

 Bank attempted in Pasadena, in his then new block, corner of Fair Oaks 

 Avenue and Union street, with Otto Froelich as cashier or manager ; but it 

 did not succeed, and was given up after a few months, and the build- 

 ing leased to the city for its offices, council room, court room, etc. 



Savings Department of San Gabriel Valley Bank. [See page 298.] 



Union Savings Bank. — The next Savings Bank venture is thus set 

 forth in the Weekly Star oi February 6, 1895 : 



' ' The proposed new savings bank to be established here, with offices in 

 the Masonic Temple block, filed its articles of incorporation February i, 

 under the name of the Union Savings bank. Its purpose is to do a general 

 and exclusive savings bank business, under the laws of California, and its 

 capital stock is placed at $50,000 ; shares $100 each. The directors named 

 are H. C. Durand, Dr. Norman Bridge, Robt. Eason, H. M. Gabriel, A. R, 



