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Building History

In 1888, W.A. Ray was the bank's president, J.W. Hugus, its vice-president, and Byron W. Bates its cashier. The board of directors included Ray, Hugus, Bates, C.S. Martin, R. Williams, J.H. Outhwaite, and S. Washburn. Its stockholders included: Ray, Hugus, Bates, R.K. Janes, J.W. Wood, B.T. Smith, George B. Post, H.W. Magee, C.S. Martin, B.M. Wotkyns, J.H. Outhwaite, W.U. Masters, A.J. Wallace, George E. Meharry, William O. Swan, Jr., Webster Wotkyns, S. Washburn, R. Williams and H.H. Markham. At this time paid-up capital stock totaled $50,000, and individual deposits reached $323,552.26. (See "Pasadena Directory," Los Angeles, California, City Directory, 1888, p. 1012.)

Alteration

This bank building underwent a comprehensive renovation in July 1904; according to the Los Angeles Times: "A permit issued yesterday authorizes the San Gabriel Valley Bank to make alterations in its building to cost $8000. The first floor will be lowered to a level with Colorado street, and the basement done away with. The main banking department will be enlarged and a new vault made of concrete and steel. The old tower will be removed, old-style windows will be replaced with modern plate glass, and the entire front changed to conform to latter-day architecture. Work was begun yesterday." (See "Los Angeles County, Its Cities and Towns, Banks New Building," Los Angeles Times, 07/13/1904, p. A7.)

PCAD id: 14065