The Bankers of Yesler-Leary
Ex-Governor Squire and a syndicate of prominent Seattle businessmen announce the formation of the city's newest bank, banking on the promise of the Pacific Northwest.
The story, cleaned up
A cleaned-up reading of the newspaper page: spelling and layout repaired, one story lifted off a crowded page. It follows the original closely but it is not a transcription. The original page is below; read it if a detail matters.
Articles of incorporation for a new bank were filed today at the office of the auditor of King County and the office of the secretary of Washington Territory at Olympia. The incorporators and trustees for the first months are ex-Governor Watson C. Squire, Fred J. Grant, W. H. Terry, Samuel L. Crawford, and Charles T. Conover. The stock is in shares of $100 each and the term of existence is fixed at fifty years. Seattle is named as the principal place of business. When asked about the project, Governor Squire remarked: 'I think there is room for another good bank in the business portion of Seattle, and we have sufficient confidence in the city and the country to put capital into it. We believe our action will be fully justified. I am particularly confident because of the character of these men. They are all young men who have reached good positions in the business world because they have demonstrated that they were worthy to be trusted. They are known by the entire community of Puget Sound.' The bank expects to commence business as soon as preliminary details are secured, as a large number of business men have already made applications for stock.
“I think there is room for another good bank in the business portion of Seattle, and we have sufficient confidence in the city and the country to put capital into it.”
This 1889 report captures the rapid, optimistic capital expansion of Seattle just months before the Great Seattle Fire. The trust these men placed in the city's growth reflects a long history of institutional, land-based power that remains a defining feature of the Seattle financial and development landscape today.
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