Bank Celebrates
Its 18th Birthday
The Bank of Kodiak celebrates
its eightieth birthday Tuesday,
March 4, climaxing another year of
growth for the “Last Frontier”
bank, which received nationwide
recognition in 1041 as the bank
with a 314% growth in deposits in
nine months.
O. A. (Torgy) Torgerson was the
sole employee when the bank first
started. Military construction be
gan here shortly after the bank
was established, and it wasn’t long
fflilit iOJJ'li
Fimpf'e^ion^ aSa impo»4ard.
Why r\al make yavir^ fashionable in
“Ciofhes designed for' Vom by Ea^f
and We^r Coa^f ^Jyli^f^!
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Charge & Layaway Plan
yAe.A& Jlot'man Co^me’icj; Av/ailaLIe
Friday Evenings untfl 8:00 p.m.
Open Daily—10:00 a.m. to 6:00 p.m.
»■
before more clerical help was
needed. At the end of the first two
years, nine employees were on the
staff.
Many tales could be told of the
hectic war years, when a spot was
located where the huge sums of
currency could be buried in the
event of an invasion, of the
“around the clock” banking hours,
of banking employees sleeping on
a couch at night to protect the
funds—and many more. How to
get money here to meet payrolls
wa ever a source of worry for the
Cordova banker who opened shop
here in Kodiak.
In one year’s operation, the bank
took in deposits amounting to
$554,8^8.97. A year later, deposits
amounted to $1,931,815.14 for its
second year of operation.
lhe bank has a staff of 12, and
an additional 3 in the insurance
department. Deposits last year
were close to $514 million.
More than a hundred guesses
have been turned in on the amount
of money contained in the glass
jar displayed in the window of the
Insurance Dept. $18, a dollar for
every year since the bank’s found
ing, will be paid to the person
turning in the closest guess.
A new addition to the walls of
the bank is noticeable to patrons
these days. A striking oil painting
of Marshall Crutcher, received re
cently, has been placed on the
wall. Crutcher was President of
the bank from October, 1947 until
his death two and a half years ago.
The painting is by his wife, who
sent it to the bank.
“Torgy” Torgerson and his wife
Ruth reside in an apartment above
the bank. The bank president is
active in the Rotary Club, and is
a member of the Elks Lodge here.
Present officers of the bank are
0. A. Torgerson, President; Ben
Kraft,, Vice-president; Mary E.
Sorum, Cashier; William H. Lam
me, Assistant Cashier and R. S.
Acheson and Dr. A. Holmes John
son, remaining Directors.
MARTHA CUSHING
HERE THIS WEEK
Martha Cushing, co-owner of the
Kodiak Telephone Company, has
been in town all week.
Residing in Sitka, where she and
her husband operate the Sitka
Telephone Company, Mrs. Cushing
is here on company business and
expects to return to Sitka today.
She states the company’s new
plant, now under construction at
Sitka, will be put into service in
March.
Hospital Notes
Diana Lynn, weighing 8 lbs. 9
ozs., was bom on February 28 U
Judith and Gary Bale.
Lou Veerman
Agent
Phone 4521
UNITIZED
CARGO SERVICE
via The Alaska Line
SAILINGS FROM SEATTLE
MS TATALINA
Voyage 31
February 26
Calling At
Womens Bay, Kodiak.
Seldovia and Homer
KEA Annnal Meeting
I
THE ANNUAL MEETING of
The Kodiak Electric Ast’o
Will be held at the Elks Hall Monday March 3,
8:00 P.M. for.
—Report Last Year’s Business
—Election of Nine Directors
—Entertainment - Movies
-Lunch & Refreshments
—Attendance Prizes
Be Present—Your Attendance Is Needed
PROXY VOTE — ANNUAL MEETING — MEMBERS OF THE
KODIAK ELECTRIC ASSOCIATION
Monday, March 3, 1958
To: A. M. Given, Acting Secretary:
The undersigned hereby authorizes
(name of some member)
to vote by proxy at the Annual Meeting of the Kodiak Electric Assoc, on
March 3, 1958, Kodiak Elks Hall, Kodiak, Alaska.
(Signature)
Instructions — The above is for the convenience of those members wishing to vote
hy proxy. The proxy must be handed (not mailed) to the Secretary on or before the
date of the Annual Meeting. Only members are entitled to vote.
Sample Ballot
(Not to be used for voting)
ELECTION OF DIRECTORS
Kodiak Electric Ass’n. 1958
[J Stanley Alvine [] Donald Lawhead
□ Alfred «f. Anderson [] Eldon Lester
f~l Fred Brechan
[~~| Jim Brightman
□ F.A. Briner
["I A. J. Cichoski
| | George Cornelius
Q Robert Dawson
□ E. E. Foster
[[J Tom Frost, Jr.
□ Harold Heglin
[~1 Louis J. Horn
| | William Lamme
[] Margaret Lightfoot
n J- B. Lovejoy
|~1 George Magnusen
n Peter Ramaglia
H Mary Sorum
H JohnThevik
[] Ray Van Buren
[] Robt. Von Scheele
| | Lou Veerman
□ Wilton White
(~~| Russell Wright
Kodiak Electric Ass’n
Businesses & Homes