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Show MILFORD HAS SOUND FINANCIAL INSTITUTION Bank Holds Annual Meeting and Elects Its Officers Whether you are so fortunate as to have any stock in the institu- tion or not, the Milford .State Bank fs something In which every business man may at least feel a justifiable pride. A sound financial institution with sufficient capital to take care of the legitimate finan- cial needs of a community is something worth while. It is the backbone of that community. These remarks are called forth by the fact that the Milford State Hank held its annual meeting for the election of directors and officers last Tuesday afternoon. The bank is now one of the soundest finan- cial institutions in the state in a town the size of Milford. ..The capi- tal stock is $25,000; surplus, $3,500; total deposits, $180,000; loans $146,000; stocks and bonds, $13,000. At the meeting there were 170 of the 250 shares represented. The following were elected to the directorate: R. H. Pitchforth, presi- dent; George Jefferson, vice president; George Searle, H. T. Hanks, W. J. Burns, H. T. McEwan and J. L. Griffith. The only new name on the board is that of Mr. Searle who takes the place of Mr. Ipson, of Beaver. The board immediately re-employed E. H. Street as cashier and Cameron Arrington as assistant cashier. It is largely through the careful efforts of Mr. Street tluit the present excellent condition of the Milford State Bank Is due. One of the matters now under consideration for the extension and enlargement of the Institution is the" plan to increase the capital stock to $50,000, a matter which was not definitely decided at the annual meeting. |