From the Oct. 10, 1902 Jerico Springs Optic
“After the death of Mr. Lloyd and the reorganization of the Bank last fall and the installation of Richard Jones as president he found some securities unsatisfactory and set about to correct them by demanding additional security. This of course created some little friction among the parties interested but after the matter became thoroughly understood by the borrowers and patrons of the bank Mr. Jones was exonerated and the totals as shown on the books increased to about $10,000 more, thus showing the business sagacity of the president and increasing the confidence of the depositors in the stability of the bank and business began to show a marked improvement.
“Further on however the new management found — as they thought — that the capital stock was out of proportion to the business and after due consideration concluded to close up their banking business here with a view of finding a more favorable locality, hence set September 1st, 1902 as the date for terminating their business career in Jerico.
“At once Mr. Jones began doing up the business and notwithstanding the unfavorable crop conditions of last year succeeded in collecting the outstanding loans with a remarkable degree of success and did it, we are informed, without bringing suit in foreclosure in a single instance due largely Mr. Jones’ ability and foresight.
Mr. Jones is a gentleman in every particular both socially and morally and his made many friends among Jerico’s conservative businessmen and farmers and the P. Lloyd Bank will be missed in our town.
“Mr. Jones departed for his home in Ida Grove, Iowa, Saturday last and the
Optic wishes him success wherever he may go.”
Jerico Springs on parade 