Friday, September 24, 2021

Hypotheek Bank In Spokane: Did your ancestor benefit from this bank?


This lovely old image is of the Bank of Spokane Falls; couldn't find an image of the Hypotheek Bank......... this bank was a Dutch mortgage bank established in Spokane Falls in June 1889 to lend money on the security of real estate. "From it's beginning the Hypotheek Bank did a brisk business." When 32 blocks of the city's business district burned in August of 1889, the bank, which had insured with British Insurance companies, received payments on its destroyed properties within two weeks. As the town rebuilt, the Hypotheek Bank was a willing lender and by the end of 1891 it had made loans totaling $4.5 million on urban property..........

One might quip that this quaintly-named bank was a savior of Spokane? Did your ancestor's nascent business benefit from a Hypotheek Bank loan? 

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