Elgin Courier and Four County News (Elgin, Tex.), Vol. 69, No. 23, Ed. 1 Thursday, August 20, 1959 Page: 1 of 10
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7
ELGIn COURIER
NEWS
AND FOUR COUNTY
100 A COPY
ELGIN, BASTROP COUNTY, TEXAS, AUGUST 20, 1959
BOLD DAYLIGHT HOLDUP
Why Another Bank In Elgin?
NETS $60 HERE MONDAY
NEW DENTIST TO HANG
♦
University,
Southwestern
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4
WORK IS STARTED ON NEW
RIVER BRIDGE APPROACHES
6
♦
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The New Elgin Bank Committee,
Elgin, Texas
April 8, 1959
Georgetown, and Baylor Uni-
versity College of Dentistry,
Dallas. He is presently prac-
ticing dentistry in Austin and
after opening his Elgin office
will practice three days a week
3. We feel that another bank would stimulate, rather than hurt, the present bank,
and that many people with accounts in other towns and banks, would stay home to do
their banking and trading. Lack of competition in any field seems to dull the senses of
the people offering the services or goods. Since there is talk of a new bank being or-
ganized, there is a very perceptible increase in solicitation and friendliness in the
existing bank.
Lola Bostic Receives
$200 Scholarship
*
kJ
years ago where he is a den-
tist at Austin State School.
Dr. E. R. is a graduate of
4. We feel that the people of Elgin would definitely favor an organization with stock
owned by a larger number of people, with a ceiling placed on the amount of stock owned
by any individual. A small number of monied stockholders such as we have in the pre-
sent bank, would not and do not, mirror the thinking and needs of average Elgin people.
Mrs. G. V. Brindley Sr and
Miss Nora Crossland of Tem-
ple were guests of Miss Nell
Ownes Thursday.
1. There are many residents of Elgin who are banking in Austin, Coupland, Giddings,
Taylor and Bastrop. Many of these out of town accounts could be kept here in Elgin if
a new bank were organized.
Mr. and Mrs. Marvin Markert
are the proud parents of a fine
9 pound 4 ounce baby boy, born
Sunday, August 16, in a Taylor
hospital.
Mrs. W. M. Griffin spent Sun-
day in Austin, guest of her son
and wife, Mr. and Mrs. George
Griffin and daughters, Donna
Gayle and Joy Elaine. . Sunday
they enjoyed a picnic at Austin
City Park.
Texas State Banking Commission
Austin, Texas
7. The Elgin territory is on the verge of more rapid expansion, and needs more
facilities for handling increased trade, and increased income. There are three large
manufacturing brick plants in this area, and there could be many more manufacturing
concerns, with proper encouragement from banking interests. The volume of business
and dollar turnover is great enough to warrant another bank. Giddings and Bastrop
are no larger than Elgin; and they both have two banks.
2. Many depositors in our local bank will say that they dislike their present banking
relationship, but find it too inconvenient to bank out of town.
Gentlemen:
The following is a resume of the attitudes and thinking of this committee interested
in organizing a bank in Elgin, Texas.
5. Elgin wants a bank which limits itself to banking practices only. Insurance, cat-
tle, and grain interests should be under a different roof, and management.
ficers and directors make progress- who help build a community- who le-
6. It is the honest opinion of this committee that the local bank in any small com-
munity should be the focal point of progress in the town. We want a bank whose ~f-
7
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t i
k
8. Just as an individual has a personality, so does an institution have a person-
ality. Many times there is a clash of personalities with a resultant loss of bank ac-
counts, and business, to.other towns. A new bank with a good disposition would keep
Elgin dollars in Elgin trade territory.
■■
ment and advice as well as dollars. This new bank should be run according to the
strict rules and regulations of any bank, but it must have the interests of the com-
munity and its people at heart. Any bank that does not encourage the installation of
natural gas, hospitals, schools, and other public services, can not be termed pro-
gressive in any sense of the word. We feel the urgent need for such a progressive
bank.
out being detected in the brief
interval between the robbery
and the time officers were on
the scene.
Francke described the man
as white, about 35 years of
age, 5 feet 11 in height, and
weighing around 170 pounds,
and wearing blue denim over-
alls and jacket and black felt
hat.
CHAMBER OF COMMERCE PRESIDENT Albert Mikulencak
presents' $25. bond to Wayland D. Kruger, who brought in
Elgin’s first bale of cotton of the 1959 season on Aug. 6.
Looking on is Lawson Rivers, who bought the bale. Kruger
also took the first bale to Austin Aug. 3, receiving a 350
check from the Austin C of C.
signment since October 1956 and
where Darlene 'joined him in
Mr. and Mrs. Elmer Burke,
Janice Burke and Mr. and Mrs.
Jimmy Werchan all of Austin
attended church in Elgin Sun-
day. The Werchans have just
recently returned to Austin
from Germany where Mr. Wer-
This is probably one of the most discussed subjects in Elgin and vicinity today. The
Elgin Courier wishes to give voice to the many comments picked up along the way and
clarify some of the issues involved.
There is no doubting the right of those who seek another bank for Elgin to do so and
there can be no questioning of honest reasons, practical needs and constructive mo-
tives. These, we feel, -are clearly outlined in the letter which the organizing committee
submitted to the State Banking Commission which is presented hei ewith.
Wb do question and challenge the motives of those who would make of this movement
for a new additional bank a campaign to villify the existing bank. We believe the exist-
ing bank has just cause to boast a long record of sound and safe operation, sound and
conservative policies and a good measure of worthy service to the community. How-
ever, it is the feeling of a broad cross section of businessmen and citizens that it
has ’not kept pace with' the community and failed to provide the Elgin area with the
benefits of its position of influence to aid the progress and growth which is expected
from a bank.
This raises the question, “Is the new bank intended to replace the old? ” We sincere-
ly believe that this is the farthest thing from the mind of any person connected with
the promotion of another bank and most certainly not a natural outgrowth to be ex-
pected. We confidently predict that the opening of another bank in Elgin will not in-
flict any serious immediate change on the existing bank and that within a year or two
it will show a growth in deposits.
After viewing the seventy odd pledge cards signed by potential stockholders and de-
positors and carefully checking the reasons advanced by the organizers for estab-
lishing another bank, we predict a bright future for them. There are numerous
examples of similar situations which have occured in other Texas towns where both
the old and new banks now coexist with considerable benefit to the community and with
maximum safety for their depositors as well as good profit to the stockholders. We
wish this result for Elgin and we join the organizers of the new bank in principle and
with utmost respect for their purposes and objectives. Elgin can, and should benefit
greatly by having two banks to serve its business interests in the years ahead. The
success of both banks will insure the growth and progress of Elgin.
HERE'S WHAT THE ORGANIZERS BELIEVE:
chan had been on oversea as-
J?
; Work was started Friday on
construction of the new bridge
across the Colorado River near
Utley, and six and on-tenths
• miles of paved road on FM
10. We believe that an impartial survey will disclose that the great majority of
people in Elgin trade area will favor the establishment of a second bank, and that their
reasons will parallel those given above by the men working for such a bank.
Respectfully submitted.
June 1957. While there they
made many week-end trips to
adjoining countries and points
of interest within Germany.
Eu
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VOLUME 69, NUMBER 23
^0
dentistry, was in Elgin Tues-
day making arrangements to
open an office uere Monday
morning.
Elgin has been without the
services of a dentist since the
death of Dr. Leon Keeble June
20, who had practiced here
since 1916. Mrs. Keeble, re-
alizing the need of a dentist
for Elgin and area offered Dr.
Keeble’s office to Dr. Rost,
the location of which is fa-
miliar to everyone. With the
arrival of new equipment for
his office Dr. Rost plans to
“hang out his shingle’’ in El-
gin Monday, August 24 and will
be glad to meet Elgin folk
thereafter to get acquainted.
OUT SHINGLE MONDAY
E. R. Rost, DDS, a native of rents. His father practiced
Giddings but presently residing dentistry there some 29 years
in Austin where he is practicing prior to going to Austin two
9. The city charts show a steady increase in the number of water, telephone, lights,
and gas connections in Elgin for the past decade. The school records show a healthy
increase in the census rolls from year to year. We know that this steady, continuous,
healthy growth can be increased and encouraged with the proper sane and sound fin-
ancial encouragement for business, industry, agriculture, and real estate projects.
AUSTIN, Texas, Aug. 14--
Giddings are Dr. Rost’s pa- and Friday.
Mrs. Frank Lane went to Ft.
Worth last Wednesday in com-
pany with her son, Clyde Lane,
and enjoyed a several days visit
in the home of-her daughter and
son-in-law, Mrs. andMrs.A.R.
McGee and family, while Clyde
attended a Youth Convention at
TCU, Sharon, McGee ac-
compied her grandmother home
and will be here until Sept. 1,
when her parents will drive
down for her.
in each city. He has completed front door locked and Francke,
bis two years service in the well shook-up, let him in, as
US Air Force; is married, and he related what had happened,
he and Mrs. Rost live in Aus- Local officers were notified
tin. We hope he will like Elgin as was County Sheriff Ira Hos-
and that his practice here will kins of Bastrop and the Tra-
soon warrant a full time ser- vis County Police Dept, and
vice. Highway Patrol, and the Taylor
At present his office hours officers were also alerted. Road
will be from 10:00 a.m. to blocks were thrown up but the
Lola Mae Bostic, University 969 and AM 1704 according to
of Texas student from Elgin, latest reports.
has received a $200 Mattie Luther Turner, Buda con-
Randall Scholarship for the tractor was low bidder on the
1959-60 long session. job with 200 working days al-
Miss Bostic, a student of En- lowed for the job with com-
glish, is the daughter of Mr. pletion date to depend on
and Mrs. G. L. Bostic, 506 availability of structural steel.
South Avenue C, and is a Turner’s bid on the project
graduate of Elgin High School, was $243,965.
ip ■
8.
Dr. and Mrs. E.H. Rost of 7:00 p.m. Monday, Wednesday bandit made his getaway with-
Tuesday at the noon hour a
daylight holdup of Jordon’s
Place on Main Street netted
the bandit something over $60.
The man entered the place
when the employe, Emil
Francke was alone, drew a
nickel plated pistol on him and
ordered him to lock the front
door. Then he demanded the
money from the till. Francke
complied by handing him $60.,
saying “That’s all there is”.
The man then made Francke
lie down on the floor and not
move, and quickly left the
building by the rear door, which
opens on a parking space and
an alley, which he could have
left in either of three directions.
Jordon, returning, found the
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Finch, Lena. Elgin Courier and Four County News (Elgin, Tex.), Vol. 69, No. 23, Ed. 1 Thursday, August 20, 1959, newspaper, August 20, 1959; Elgin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1562411/m1/1/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Elgin Public Library.