John Vonderlin: 1905: Want a Bank in Pescadero?
Story by John Vonderlin
Email John: benloudman@sbcglobal.net
Hi June,
This article mentioning the “rivalry” between Pescadero, and Half Moon Bay, was in the August 17th, 1905, issue of the “San Francisco Call.” Who won the competition anyway? And whatever happened to this bank? It is mentioned only once in the old newspapers, that being this article.
With a little research, I see Mr. Oliver, the bank’s financier, was down in L.A., wheeling and dealing real estate, his profession, by March, 1906. In 1908, he was being sued for failure to sell Belmont real estate he had subdivided for the owner. I suspect the bank’s fortune, and Mr. Oliver’s too, was greatly harmed by the Great Quake in April 1906. Enjoy. John
|
WANT A BANK IN PESCADERO
Success of Halfmoon Bay Institution Stirs Residents of a Rival Suburb
STOCK IS SUBSCRIBED
Concern Which Has a Capital of $50,000 Will Be Ready
for Business in Few Days
Special Dispatch to Th« Call.
PESCADERO. Aug. 16. — The success which has attended the efforts
of the people of Half moon Bay to establish a bank in their community
has stimulated residents here to emulate the example of their neighbors,
and on August 25 the West Coast Bank and Trust Company will open for business. The new institution has been promoted and financed by D. R. Oliver. The capital stock has been placed at $50,000. of which $25,000 has been paid up. Approximately fifty people here have subscribed for the stock. The new bank will open for commercial business exclusively, but later will establish a department for savings.”
|
|
|