Brief History of
  The first bank in Farnam was opened in 1890 with J. R. Mason as cashier. In a recent letter Mr. Mason states that he arrived in Farnam 46 years ago traveling from Iowa "deluxe" in an emigrant car. With him was associated Bowen Curley who was operating the bank at Eustis. They sold the Eustis bank and paid off the depositors in the Farnam Bank in 1893 and moved to Idaho Falls, Ida., where they opened a bank and Mr. Mason is now president of that bank.
Mr. Mason was the first band master of Farnam and also the first Master Workman of the Ancient Order of United Workmen when organized in 1890. Mr. Mason was a livewire and always at the front of any move to improve our village. Mr. Mason states in his letter that "My three years in Farnam was the most pleasant time of my life."
In 1892 David Hanna of Lexington opened a bank and continued its operation until 1901 when he bought a bank in Gothenburg and moved there. He was very popular and was one of the first trustees when the village was incorporated and his removal from Farnam was regretted by the whole community. Mr. Hanna stated several times to the writer that his biggest mistake in his life was when he left Farnam. Mr. Hanna died Feb. 24, 1932 in Long
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Beach, Calif., and the world lost another exceptionally good citizen when he passed away.
The next bank was opened by Hugh Ralston and wife, with whom was associated J. H. Kelly and wife of Gothenburg. The bank was in charge of Mr. and Mrs. Ralston who were very popular and who built up a thriving bank and continued in business as long as both lived. Mrs. Ralston died in May, 1930 and Mr. Ralston died in July, 1933. Their deaths were a shock to the community and deeply regretted by the whole of our citizens.
The Farnam Bank was organized in 1904, with G. D. Faulkes as president, S. F. Parker as cashier and M. J. Tufts and Dave Hanna as stockholders. This bank has been in continuous operation since that date. In 1934 after the death of Mr. Ralston his heirs decided they did not want to continue the operation of their bank and sold their building and fixtures to the Farnam Bank and moved their business to the First State Bank at Gothenburg.
The Farnam Bank built the first brick building in Farnam in 1904, which building is now occupied by G. W. Pollard as insurance office. Mr. S. F. Parker, president, has been in active service since its organization and Mr. J. A. Rowland, cashier has been with them for 18 years. Mr. Hugo Blomquist, who was with the Ralston bank 9 years is now assistant cashier. Mr. Clark Jones was connected with this bank for a number of years, but was compelled to retire on account of ill health. Farnam has never had a bank failure.
1886
1936
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Web Publisher: Weldon Hoppe