The First National Bank of Chicago; Charter Number Eight a Brief History of Its Progress from the Day on Which It Opened for Business, July 1, 1863, to the Same Date Half a Century Later, with Which Is Incorporated a Sketch of the First
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from ... Show synopsis This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1913 edition. Excerpt: ...all who knew him by deserving it. He was a public-spirited and useful citizen, giving freely of his time and means to promote the best interests of Chicago." At the next annual meeting of the stockholders George T. Smith was chosen a director to succeed Mr. Lawrence. In the spring of 1899, at the instance of Vice-President J. B. Forgan, an important step in accord with modern thought and policy was taken. A committee was, on March 28th, appointed to consider the feasibility of establishing a system of pensions for old employees; if advisable, it was directed to prepare and submit to the board the outlines of a plan to effect this purpose. One month later a report favorable to the project was presented, and the adoption of a set of rules was recommended. On October 31st Mr. Nickerson verbally stated to the board of directors his intention again to retire from the presidency at the beginning of the next year. Before the close of 1899 another veteran of prominence and distinction in its affairs also severed his official connection with the institution. At the meeting of December 26th the resignation of Franklin D. Gray was read and accepted, with the following formal expression: "Resolved, that in taking this action we desire to express to Mr. Gray and to place upon our records our sense of the faithfulness and value of his long service, and to thank him therefor in the name of the bank. He has been a director in the present bank from the date of its organization, prior to which time he had served the original First National Bank of Chicago since 1866 in the same capacity, making a practically continuous service of some thirty-three years. For fifteen years he was also vice-president of the original bank. This long and honorable connection...
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