John M. Keith Elected Bank President – 1910
Keith Is Elected President Of Bank
Many Powerful Interests Are Represented In List Of Stockholders.
A new management assumes control of the Missoula Trust & Security bank this morning and when the institution opens its door for business, John M. Keith will have charge of affairs as president. Late yesterday the sale of a considerable portion of the bank’s stock was made and Frank Cannon, John W. Hicklin and D. R. Beck resigned from the directorate. The vacancies caused by their withdrawal were filled by the election of T. L. Greenough, Kenneth Ross and John M. Keith. Immediately afterward, the directors elected Mr. Keith president, to succeed Mr. Cannon.
Interested in the purchase of the stock which changed the control of the Trust & Security bank are some of the best-known bankers and capitalists in the northwest. Associated with Mr. Keith in the purchase are A. J. Davis, president of the First National bank of Butte; A. L. Smith, vice president of the National Bank of Montana in Helena; Conrad Kohrs, banker and stockman of Helena, who has already extensive interests in the city; W. M. Bickford of Butte, general counsel for W. A. Clark and formerly a resident of Missoula, where he has yet extensive interests; T. L. Greenough of Missoula, well known here and in Spokane as an extensive mining operator and capitalist; Kenneth Ross, C. M. Allen, W. P. Mills, S. J. Coffee, J. M. Price, George Pringle of Missoula.
Of the former stockholders, John R. Daily, G. T. McCullough, P. J. Kline, T. R. Jacobs and others retain their holdings. The transfer was made at once when the deal was closed yesterday afternoon and the new management will assume charge this morning. Frank Cannon, the retiring president, will devote his attention to the extensive ranch holdings which he has recently acquired and which were described in The Missoulian last week.
Strong Interests.
The new interests in the bank are strong and the connection of these new men with Missoula affairs is an excellent thing for the city. A. J. Davis, who is the head of the First National bank of Butte, is one of the best-known bankers of the northwest; he is personally a strong man in the financial world and his institution is one of the great banks of the west.
A. L. Smith of Helena, vice president of the National Bank of Montana, is one of the progressive and influential bankers of the west. He is widely known and has an enviable reputation in the banking world. Conrad Kohrs, also of Helena, is one of the pioneers of Montana. For many years he was a resident of Deer Lodge. As a banker and stockman he has built up a vast fortune which he has invested in Montana, a considerable portion of it being placed in Missoula, where he owns the Higgins block and other important property.
Walter M. Bickford, general counsel for W. A. Clark, is another important addition to the list of stockholders. Mr. Bickford has for years been an extensive holder of Missoula real estate and was one of the first men to develop the south side of the river as a residence district. He has always been a good friend of the city and his added interests here will make him more than ever helpful to Missoula.
The Missoula men in the list of new stockholders are all well known; their interests in the bank will strengthen it materially and Mr. Keith is to be congratulated upon the associations he has formed in developing the new concern.
Announcement is made that, about April 1, or as soon as possible after that date, the capital stock of the bank will be increased from $100,000 to $250,000. No formal announcement of policy is made at this time, but President Keith is so well known here that none is necessary. His return to active participation in the banking business of the city will be pleasantly commented upon.
The above article appeared in The Daily Missoulian on February 1, 1910.
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John M. Keith was one many New Brunswick, Canada people who followed Andrew M. Hammond to Missoula. He came to Missoula in 1881 at the age of 22 and began clerking for the Eddy, Hammond (Bonner) company – later known as The Missoula Mercantile. By 1888 he left the mercantile firm to become a bank cashier in Missoula National Bank. He served 3 separate terms as Mayor of Missoula. In 1890 he married Harriet Beckwith who was also a native of New Brunswick, Can. His beautiful Missoula home was purchased by the Sigma Chi fraternity in the 1930’s.
https://en.wikipedia.org/wiki/John_M._Keith