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First National Bank of Tower City Is Reopened Tower City, N. D., May 15.—After being closed since Nov. 1, 1923, the First National bank of Tower City was reopened for business here yesterday. The new bank has a capital of $25,000 and has the following officers: President, A. M. Voorhees; vicepresident, G. W. Kelley; cashier, W. A. Smith; assistant cashiers, G. D. Wager and C. F. Melton. The institution reopens under very auspicious circumstances and the officials and people of Tower City are optimistic as to its future. This institution was first organized as the State Bank of Tower City, in 1881. Change in 1902 It was made a national bank, under the name of the First National bank of Tower City in 1902, with R. P. Sherman, George C. Ward and Phillip R. Sherman of Tower City, and Stephen S. Lyon and J. W. Smith of Fargo, as sponsors. On March 16, 1911, the First National absorbed the Farmers and Merchants bank of Tower City. On Jan. 31, 1921, the Sherman interests retired and A. M. Voorhees became president, with G. W. Kelley, vicepresident and R. T. Rice, H. Seymore and G. D. Wagar as directors. Shortly after the bank closed last fall, F. W. McRoberts, of Fargo, was named receiver and he has labored continuously since to get the bank reopened. The bulk of the money to assist in the reopening was furnished by the Agricultural Credit corporation. Only One Bank Tower City is a splendid community and this will be its only bank," says Mr. Voorhees. "There is plenty of cash in the community and the stockholders are financially responsible and have displayed their willingness to stay by the bank to the limit."
