41 (theparvaluebeing$100persharebutsellingfor$335pershare)andtheissuance of additional stock (the bank’s capital increasing from $40,000 to $50,000); and the creation and establishment of a Trust Department. Shareholders passed the amendment and voted to call in the original stock and have it re-issued in $25 par shares, worth nearly $84 each. The smaller denominations, it was thought, would appeal to the investor of limited means. It was also recorded that the dividend paid by Bank of Clarke County “is probably unequalled by few concerns outside of the larger cities.” The approval of the formation of a Trust Department called for it to be organized exclusively to administer estates, acting as executors in such instances. Bank of Clarke County, along with Shenandoah Valley National Bank of Winchester (which added a trust department in 1923), “introduces a new enterprise in banking circles of the Northern Valley in this action.” The Trust Department opened for business on July 1, 1924. Mr. Lewis N. Glover was named the bank’s first Trust Officer on January 22, 1925. April 1924 saw the death of another Board member and his passing was recorded in the minutes: Whereas, the late William E. Reed was a member of this Board for more than twenty years, and attended its meetings with great regularity until very recently when ill health prevented, and whereas, death has summoned him to go hence; and desiring to preserve upon our minutes some suitable expression of our sense of loss. Now, THEREFORE, be it resolved, that in the death of our esteemed associate we realize that this institution has lost one of its strongest supporters and one of its staunchest friends. Possessing business ability of the highest order his counsel always commanded respect. In administering the affairs of this Bank he brought to bear the same qualities of prudence, judgment and good sense which were conspicuously shown in his private life. In his passing we lament the loss of a friendly fellow-worker; a dignified and kindly Christian gentleman whose services this Board holds in high appreciation and whose personal friendship its surviving members will not soon forget. Mr. E. G. Coiner, a retired Berryville merchant, was appointed to the Board to succeed the late William E. Reed. The stockholders were treated to a turkey dinner from the Battletown Inn after their 1926 and 1927 meetings (referred to in the Board minutes as a sumptuous repast). During the 1927 meeting, stockholders heard exceedingly favorable reports of the past year’s business, with the directors declaring another semi-annual dividend of 9% which equated to an annual earnings rate of 18%. The surplus fund and the general finances of the institution were reported to be “in fine shape.” The 1928 stockholders’ meeting reported deposit growth of $55,000 and the greatest gross receipts in the bank’s history. Oysters were added to the dinner that year. Mr. Nicholas F. H. Morrison was hired in 1928 as a Trust Department