California Biographies

Source: History of Fresno County, California, with biographical sketches of 
the leading men and women of the county who have been identified with 
its growth and development from the early days to the present (1919)

History By Paul E. Vandor 
Illustrated, Complete In Two Volumes 
Historic Record Company, Los Angeles, California, 1919
 
Notes: Missing+page1185-1186

Transcribed by Peggy Hooper

This file is part of the California Genealogy & History Archives 
http://www.rootsweb.ancestry.com/~cagha/index.htm


OSCAR E. PETERSON. � Oscar E. Peterson was born in Knox County, 
near Galva, Ill., on November 12, 1871, the son of Olof Peterson, who mar- 
ried Sigrid Johnson, and grew up on his father's farm, while he attended the 
public schools at Wataga, Ill. Later, he studied for three years at Knox 
College at Galesburg, Ill. At that time the Bank of Galesburg needed a 
bookkeeper, and the position having been offered him, Mr. Peterson aban- 
doned the class-room and entered on his career as a banker. From book- 
keeper lie was soon advanced to teller; but in 1903, after eleven years of 
service, he left the Bank of Galesburg and went to Victoria, in Knox County, 
where he helped to organize the State Bank of Victoria, and became the 
bank's cashier. The concern started with only twenty-five thousand capital, 
but it became a solid and flourishing institution, successful in every respect. 
With the organizing of the Kingsburg Bank in 1910-11, Mr. Peterson came 
here, having been selected as its first cashier ; and this responsible position 
he has held ever since, to the satisfaction of all concerned. 

During these busy years, Mr. Peterson took a course in law by cor- 
respondence, supplemented by private study with Philip S. Post, county 
judge and master in chancery at Galesburg, Ill., now attorney for the Inter- 
national Harvester Company of Chicago; and by the Supreme Court of 
Illinois, on April 4, 1907, he was admitted, after due examination, to practice 
law. 

Mr. Peterson was married at Galesburg, in 1899, to Miss Jennie Shoreen, 
a native of Galesburg and the daughter of T. J. and Malena Shoreen, and 
two children have blessed the fortunate union. They are named Minnette 
and Millicent. The family attend the Swedish Methodist Episcopal Church. 
The Kingsburg Bank was organized with the following board of direc- 
tors: Nicholas J. Nelson, A. T. Carlson, J. L. Norman, A. W. Sward, J. P. 
H. Applequist, John Peterson and Philip G. Peterson, while the following 
officers immediately took charge: President, Nicholas G. Nelson; First Vice- 
president, A. T. Carlson; Second Vice-president, J. L. Norman; and Cashier, 
O. E. Peterson. It was equipped, as a commercial and savings bank, with 
burglar-proof safes and a fine safe deposit vault. On May 12, 1911, its de- 
posits amounted to $33,532.32; in 1912 they were $91,523.67; in 1913, $119,- 
838.20; in 1914, $123,980.84; in 1915, $151,358.45; in 1916, $201,190.37; in 1917, 
$367,848.82; in 1918, $495,691.41; and on May 12, 1919, the deposits totalled 
to the magnificent mark of $686,762.58. The bank's resources on that date 
were: Loans and bonds, $588,074.36; building and fixtures, $20,680; cash 
and due from banks, $150,040.43; while the liabilities were: Capital, $50,000; 
surplus, $19,000; profits, $3,032.26; and deposits, $686,762.53, making a total 
of $758,794.79. Its officers had then become : Directors, Nicholas G. Nelson, 
A. T. Carlson, J. L. Norman, Philip G. Peterson, John Peterson, J. P. H. 
Applequist, and O. E. Peterson ; President, Nicholas G. Nelson ; First Vice- 
president, A. T. Carlson ; Second Vice-president, J. L. Norman ; Cashier, 
O. E. Peterson ; First Assistant Cashier, C. F. Draper ; and Second Assistant 
Cashier, E. Ed Peterson.