Shareholders Approve
Commonwealth Stock Split
The shareholders of Com
monwealth National Bank ap
proved a two-for-one stock split
today at the bank’s annual
meeting near Harrisburg.
The split, which will take effect
March 26th, will increase the
number of shares of common
stock outstanding from 696,625 to
1,393,250.
Commenting on the resolution,
Commonwealth president
George L. Morrison, Jr., said the
split would have die effect of
placing the market value of the
stock in a more popular range of
from $25 to $35 per share. The
stock now trades in the high
fifties..
The meeting, attended by
approximately 150 shareholders,
was held in Commonwealth’s new
Aerial ladder Equipped
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2322 Old Phila. Pike
Lancaster, Pa. 17602
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Aid
operations center in Swarata
Township. The two-story brick
building houses virtually all of
the bank’s records and account
processing equipment, including
computers with a check
processing capability of 5,000
documents per minute. Its 250
employees keep track of
7,000,000 transactions per month,
plus 42,000 requests for customer
information.
Morrison reported to the
assembled shareholders that
Commonwealth had achieved
another record year, in terms of
assets, deposits and earnings, in
spite of the effects of Hurricane
Agnes. He described innovations
that took place during 1972, in
cluding increased com
puterization of banking
bring you more profits!
Lancaster area shareholders attending
the annual meeting of Commonwealth
National Bank are: (from left to right) Mrs.
Eby and the Rev. Wilmer M. Eby, R.D.I,
Reinholds; Mr. Paul F. Diehm, 24 S. 3rd St,
procedures, the introduction of The talk ended with a brief
new services such as tax description of the five-county
preparation for customers and market area served by Com
the construction of additional monwealth, which the bank sees
branches. as the foremost growth market in
WOLGEMUTH BROS., INC.
AAOUNT~JQY,J?A m. 653-1451
Lancaster Farming, Saturday, March 17.1973 —
Lititz; Mrs. Lane and Harry K. Lane, 609
State St., Lancaster. Shareholders toured
the bank’s new operations center in
Swatara Township after the meeting
Pennsylvania This area now
appears to be on the verge ol a
period of oven greater economic
growth. Morrison said
New Birds Nest If here
Industry Stores If ater
The l;200-acrc man-made
lake created by Geoi gia-Pa
cific Corp. at its tiee faim
near Crossett, Ai k , has de
veloped leci national and nat
ural fringe benefits.
Created for supplemental
water supply, the compam
said that nearly 20,000 visi
tors used the camping and
picnic areas during the past
year.
Tfie lake also has attracted
thousands of birds A repeal
issued by the Arkansas Audu
bon Societ.v sa\ s its latest 1m <1
census around the lake’s
perimeter showed the highest
count ever for eight diffeient
bird species. The first ospiev
siprhtinpr in 50 years w.is re
corded and there was “an
encouraging increase” of i are
cockaded woodpeckeis. The
lake itself is stocked with
bass!
15