History of Oakland County Michigan a narrative account of its historic progress, its people, its principal interests / compiled from the official records of the county, the newspapers and data of personal interviews, under the editorial supervision of Thaddeus D. Seeley.

HISTORY OF OAKLAND COUNTY

245

years ago, and they stand for the substantial advancement and the present prosperity of Oakland county.
PONTIAC SAVINGS BANK
The Pontiac Savings Bank, one of the leading financial institutions in Oakland county, was organized in I898, with a capital stock
of $50,000.00. It was organized to succeed the Pontiac National Bank,
the latter having been the successor of the Second National Bank,
founded in September, I865. The subscribers to the capital stock of the
Second National Bank, fixed at $Ioo,ooo, were M. Lamont Baggs, Theren
A. Flower, Stephen Baldwin, Horatio N. Howard, A. A. Lull and William Brown, which company of gentlemen with the exception of Mr.
Brown, comprised the board of directors of the bank. Dr. M. L.
Baggs was the first president, Theron A. Flower, vice president, and
Alba A. Lull, cashier.
The first president of the Pontiac Savings Bank was B. F. Elwood, who was succeeded in the same year of organization (I898) by
James A. Jacokes. Mr. Jacokes was succeeded by D. H. Power in the
presidency in I902; and after a year of service Mr. S. S. Matthews
followed Mr. Power. The death of Mr. Matthews in I9II brought
about the appointment of Mr. S. E. Beach to the office of president,
and he is at present serving in that capacity. Vice presidents of the bank
from.date of organization to the present time are as follows: I898, D.
J. Hammond; 900o, Harry Coleman; 1902, S. S. Matthews; I903, F.
H. Hale. Cashiers: I898 to 1902, D. H. Power; 1902 to present date,
Camer Smith. The bank has a surplus of $40,000, and in I912 the capital was increased from $50,000oo to $100,000.
THE OAKLAND COUNTY SAVINGS BANK
The Oakland County Savings Bank commenced business in February, I893, with a capital of $50,000 (which has never been increased)
and the following officers: Byron G. Stout, president; A. C. Baldwin,
vice president; and Charles W. French, cashier. Mr. Stout continued
as president for three years, and in I896 was succeeded by Joshua Hill,
the present head of the bank. J. A. Greeley is vice president and Frank
L. Perry, cashier. The capital of the Oakland County Savings Bank
is $50,ooo; surplus and undivided profits, $25,000; deposits, $1,250,000.
FIRST COMMERCIAL BANK OF PONTIAC
The First Commercial Bank of Pontiac, the successor of the first
National Bank of Pontiac, was organized in I892 with Jbhn D'. Norton as president; Goodman Jacobs, vice president; and Benjamin S.
Tregent, cashier. The present officers of the bank are F. H. Carroll,
president; A. A. Corwin, vice president; C. E. Waldo, cashier. The
bank is capitalized at $IOO,OOO.
THE AMERICAN SAVINGS BANK
The American Savings Bank of Pontiac was established in I903,
the first officers being H. S. Chapman, president; A. G. Griggs, vice