early banking and the banks parkersburg wv - Mackey's Antiques & Clock Repair

EARLY BANKING AND THE BANKS PARKERSBURG WV

Mackey's Antiques & Clock Repair
1249 Gihon Road
Parkersburg WV 26101
 

   304 422-7274

 e mail   rmackey@mackeysclockrepair.com

Website  http://www.mackeysclockrepair.com    

Tygart School Reunion website http://www.tygartschoolreunion.com

Marrtown Reunion website http://www.marrtownreunion.com/

Parkersburg Viscose website http://www.parkersburgviscose.com/  

Wood County History Photography & Scenery  http://www.wchps.net

For Early Parkersburg History and Old Pictures

 Over 900 Old Parkersburg & Wood County WV Pictures

The first banker in the history of Parkersburg was Beverly Smith, " A Man " who in 1839 at the age of 30 came to Parkersburg from Wheeling to open a branch bank of the North western Bank of Virginia, later chartered the Parkersburg National Bank by a group of local men. below is a Picture of

Beverly Smith

 

 

 

The Central Banking and Security Company, located at 615 Market street, has been successful from its inception. Organized under charter dated June 24,1900,it opened for business April 22, 1901, with an authorized capital stock of $300,000, of which $150,000was paid in. Already its resources amount to $600,006, with a surplus fund of $22,000. Since their organization they have declared and paid nine semi-annual dividends. The bank owns its own building; the banking rooms 'are furnished in mahogany, and is otherwise as well equipped as any in the State for banking purposes.

The Central Banking & Security Company has a large and growing Savings Department, and pays interest on savings deposits at the rate of 4 per cent. per annum, payable January and July of each year. Nearly 4,500 depositors have availed themselves of the opportunity to deposit their savings here.

 The management have tried to make it the people's. bank, and certainly the large number of depositors show how well they are succeeding. In the Commercial Department, the company welcomes the accounts ort all, and on inactive, or time deposits, pays the, usual rate of interest. They also. have a Trust Department, which is fully equipped to handle fiduciary business of every kind. and seeks appointment as Executor, Administrator, Guardian, Assignee, Receiver, Trustee, etc., as. well as the collection of Rents and Management of Estates. To business entrusted to, them in this department the best of attention is and Will be given.

 Their policy has always been conservative fair dealing with all, whether a depositor or borrower, of small or large amounts. The stock of the company is owned by citizens of Parkersburg and vicinity, who are among the best in the community. The officers are: W. H. Smith, President; Levin Smith, Vice President; W. H. Ogden, Cashier; J. V. Langfitt, Assistant Cashier; and the Directors are W. H. Smith, Jr., Olin V. Neal, E. J. Humphrey, S. B. Langfitt, S. B. Crawford, F. D. McCoy, Levin Smith, J. V. Langfitt. Wm. Kirk, J. T. McMechen,B. D. Stout. 

 

The Farmers and Mechanics National Bank was organized in 1900, and. since its organization has had a rapid growth. Whlle it is one of the youngest financial institutions in the city, it is one of the most substantial and leading financial institutions of the State, having assets exceeding $700,000.00.

The Directors are some of the best business men of the city. The following is a list of the officers and. directors of the Bank:

President-W. W. Walker, proprietor Blennerhassett Hotel.

Vice President-John M. Crawford, Secretary and Treasurer Parkersburg Rig and Reel Company.

D. A. Beatty, oil producer.

D. F. Connolly, oil producer and manager Associated Producers Company.

J. W. Solley, superintendent South Penn Oil Company.

R. J. A. Boreman, capitalist.

W. S. Tracewell, real estate.

F. O. Havener, president Holly Lumber Company.

H. O. Smith, Jeweler.

C. T. Hiteshew, Cashier, has been cashier of the institution for the last three years, and

 is also President of the West Virginia Bankers Association. This Bank does a general banking business in all its branches, including the handling of commercial accounts, the carrying of commercial deposits for business men, a savings department which pays the highest rate of interest on savings deposits, rents safety deposit boxes for the storage of valuable papers, wills, deeds, notes, mortgages, jewelry, and other valuables; issues drafts on all foreign countries payable at sight; makes collections, and acts as financial agent for its patrons with the utmost diligence and care, and in all ways and for all purposes for which a bank is desirable will be found a conservatively managed but enterprising, financial institution that enjoys the respect and support of many of the largest commercial interests of Parkersburg, and has the hearty good will of the entire commercial life of the city. A careful scrutiny of the personnel of the officers and directors of this Bank will please us when you are seeking to open a new banking account.   

The Second National Bank of Parkersburg, corner of Fifth and Market streets, was organized in 1865, with a capital of $105,500, with General J. J. Jackson as its flrst President, who continued in this' office until his death in 1877, and with W. H. Wolfe as its, first Cashier. In the thirty-two years of its existence it has 'built up a large and profitable business, early being compelled to increase its capital, which is now $156,000.  

General Jackson was succeeded by James W. Dils, who continued President of the Bank during the remainder of his life, nineteen years. Its other Presidents have been W. H. Wolfe, W. Vrooman 'and Dennis O'Brien. W. H. Wolfe continued as Cashier for over thirty years, when he was succeeded by G. M. Gilkeson, who in turn was succeeded by George H. Carver, the present Casher.  the Second National Bank was the second bank in the city to organize under the National Banking law. This Bank has prospered from its very Inception, ·and during the various panics the country has passed through since 1865 has never suspended specie payment nor failed to pay its obligations in full upon demand.

The Second National Bank gives close and careful attention to the interests of its customers, extending as broad and liberal accommodations as prudent and conservative banking will permit, and their wise discretion is shown in the uniform prosperous result and the reputation for integrity which it bears. The approved accounts of banks, bankers, merchants and corporations are received, loans and discounts made, collections at tended to, and the bank issues drafts on principal cities and traveler's letters of credit available anywhere. Convenient safety deposit boxes for the storage of valuable papers, such as notes, deeds, wills, jewelry and valuables, etc., are at the disposal of the public. This Bank is an acknowledged factor in the welfare of the business community, and the city has profited by reason of the efficiency and sufficiency of its banking Facilities. The officers of this Bank are: Dennis O'Brien, President; H. S. Wilson, Vice President; George H. Carver, Cashier. The Directors are: W. H. Wolfe, H. S. Wilson, W. N. Miller, A. B. White, R. J. A. Bore-man, J. S. McKown and Dennis O'Brien.

November 17, 1903, was the date of the opening of the Commercial Banking & Trust Company, with an authorized stock of $300,000; paid up capital stock of $105,000. In these days of keen competition the success of a Bank is largely dependent UpOl1 the liberality of treatment accorded depositors. Recognizing this fact, it has been the policy of its officers to extend such accommodations to its customers as conservative banking methods would admit. Funds 0: individuals, merchants and others are welcomed, and investments of surplus money in bonds and other securities made when desired.

 This Bank has every facility and power to be and has become one of the important factors in the business and finance in the city of Parkersburg. It is authorized to act as administrator, executor, trustee, and in any fiduciary capacity. In addition to this, it has a Savings Department, where any depositor may deposit any small amount at any time and be enabled to receive interest rut the rate of 4 per cent on his deposit.

The Savings Department of this Bank is a growing feature, where the small depositor as well as the large one is able to add to his savings, and at the same time receive a liberal interest on his accumulations. This particularly should appeal to that class of people whose income is limited to little more than every day requirements. A fund may be accumulated in this way, available in times of sickness or other misfortune, or for any special object. There is a feeling of security and satisfaction in having such a fund in this 'Bank at your command when wanted. Safety Deposit Boxes are at the service of customers at small expense.

 This Bank bas deposits amounting in the aggregate to $200,000, which are constantly increasing, and is controlled by men of good business judgment and conservative ideas on strictly business lines, Its officers are: B. S. Pope, President; James A. Wetherell, Vice President, and T. J. Wetherell, Cashier. Its Directors are: B. S. Pope, H. M. Spence, Otto Schultz, George W. Strong, Louis Mansbach, R. Wild, C. P. Morrison, J. A. Wetherell, T. J. Anderson, Robert Wilson, Fred Graff, E. G. Stephenson, W. S. Keever, Geo. W. Carney, V. L. Bartlett, W. E. Stout, J. W. Dudley, J. H. Shaw, Jacob Radenbaugh, Chas., H. Betts, F. P. Ames.   

 

The First National Bank was organized in 1863 on a capital stock of $50,000. Twice it has been compelled to increase this capital, the first time to $150,000, and again to $250,000.

The President of the Bank, Senator J. N. Camden, and the Vice President, Mr. W. N. Chancellor have been connected with the institution since its organization, Mr. Camden as its first President and Mr. Chancellor as its first Cashier. Mr. H. H. Moss, the present Cashier has been identified with the bank for fifteen years, being formerly cashier of the Parkersburg National Bank for about twenty three years. Mr. W. Armstrong has also been in the service of the bank since shortly after it was organized.

  When the First National Bank commenced business they were located on the east side of Juliana street, a little north of Third. Later on a building was erected on the South west corner of Juliana and Third streets, which was occupied for about 25 years, from whence they moved to the corner of Market and Fourth and when it was found that these quarters were inadequate for their great and increasing volume of business, the present magnificent structure was erected at the corner of Market and Seventh streets, the banking fixtures of which, designed in beautiful mahogany, are considered among the most elaborate to be found anywhere in the country. The officers of the bank are: J. N. Camden, President; W. N. Chancellor, Vice President; H. H. Moss, Cashier, and W. Armstrong, Assistant Cashier, and the Directors are J. N. Camden, W. N. Chancellor, T. B. Camden, W. T. Wiant, C. C. Martin, W. W.  VanWinkle, F. S. Smith, E. L. Davidson and George M. Whitescarver.

The Capital Stock is now $250,000, togetner with a surplus fund of $170,000, and the bank is also a United States Depository. A prosperous future the result of the careful and conserving management of every interest entrusted to their care, is but the just reward to this tried and tested faithful friend of Parkersburg.

 

Parkersburg National Bank building, located at 514 Market Street, which was completed in 1915. 

Parkersburg National Bank 1939 Parkersburg's oldest and largest bank actually opened its doors on March 17,1839, as the Northwestern Bank of Virginia. However, beginning in 1861, the Civil War caused a great upheaval throughout the western part of Virginia and, in 1863, its people chose to secede from the state and were accepted into the Union as the new state of West Virginia. As a result of this dramatic change, the bank was filled with worthless confederate currency. It would have failed at that time except for President Abraham Lincoln's Bank Act which revitalized the bank and, in June 1865, established it under the new name of The Parkersburg National Bank. It would remain "The Parkersburg National Bank" until November of 1985 when, after many mergers and acquisitions, it became the "United National Bank."

 

The Parkersburg National Bank was originally called the Western Bank of Virginia, and was doing business about 1815. It was afterward changed into the Northwestern Bank of Virginia, about 1830 and was incorporated as the Parkersburg National Bank in 1865.  From 1830 until 1904 the old bank building on Third· street was occupied. in 1904 they removed to their present beautiful and commodious quarters in the Blennerhassett Hotel Building, corner of Fourth and Market streets.

The capital stock is $150,000, and the surplus fund is $105,000, and this solid old institution has over $400,000 deposits. Its history has been one of uniform success throughout the many years of its existence, an existence that almost spans a century. In fact, the Parkersburg National Bank is the oldest banking institution in the city, and is commonly spoken of as the "Old Bank."

 Mr. C. Nelly (of the wholesale grocery firm of C. Nelly & Co.) is the President of the Bank, and has been identified with the bank as a Director, and later as President. for many years. Charles A. Bukey, the Cashier, has been connected with the Bank, occupying various positions, since 1881. The Directors are: C. Nelly, H. B. Hogg, Jas. S. Wade, VV. D. Paden, W. Vrooman, M. W. Mullen, B. F. Tracewell.

 This bank does a general banking business, issues drafts on all foreign countries, payable at sight; makes-collections, etc., and in short, transacts all the various kinds of business usually conducted through such an institution. As a financial agent, its many patrons have always found this bank eminently worthy of confidence, and a safe guardian of their interests.

The liberal patronage accorded the Parkersburg National Bank by the business firms of the city, and the public generally, shows how firmly established is its reputation in this community for stability and sound financiering. The safe deposit. vaults of this bank are among the strongest in the city, and are provided with the most effectual precautionary devices against loss by burglary or fire, being proof against the attacks of either.

 

The incorporators and stockholders of the Union Trust and Deposit Company held their first meeting on April 22, 1903, at 213 Fourth Street for the purpose of organizing the Corporation for which the Secretary of the State of West Virginia had granted a charter on April 16, 1903. Present at this meeting were all the stockholders: Johnson N. Camden, S. D. Camden, J .M .Jackson ,Jr . C. H. Shattuck and Thomas E. Davis. They set about organizing the Company of electing directors, adopting by laws and transacting of there necessary business. Officers and directors were: Johnson N. Camden, President and Director J. M. Jackson, Jr., First Vice President and Director  Sprigg  D. Camden, Second Vice President and Director Wilbur E. Davis, Secretary and Treasurer Charles H. Shattuck, Director Thomas E. Davis, Director A. B. White, Director John W. Roberts, Director

On May I, 1903, Union Trust and Deposit Company opened for business at the Fourth Street rooms and remained there until July 4, 1904 when it moved to its present location in the Union Trust Building at the corner of Seventh and Market Streets, which had been built by Johnson N. Camden, the bank's first president. For its small business the bank needed only a corner of this space. and it employed four people.

 In 1943 Union Trust climaxed its first forty years by being accepted as a member of the Federal Reserve System. In 1947 the bank was remodeled and refurnished the improvements keeping pace with the growth of Parkersburg and the trading area. During this remodeling, a new valut of concrete and steel was built. There rectangular door is 16 inches thick and weighs 19 tons. This vault is similar in construction to one which survived the atom bomb impact at Hiroshima, having been built by the same company that constructed the Japanese city's vault.

Another milestone was passed when, on January 3, 1972, the Union Trust and Deposit Company became a member of the National Banking Association. With this new membership. the official title of the bank was changed to Union Trust National Bank.

 The bank's landmark is the large clock suspended from the corner of the building on Seventh and Market Streets. A clock has been hanging there since 1923. The present clock incorporates the time and temperature. Parkersburg National Bank and Union Trust National Bank of Parkersburg merged in 1982 and Union Trust National Bank closed its doors. Since 1903 the bank has had nine presidents.  Johnson N. Camden, S. D. Camden, Wilbur E. Davis, Bert T. Neal, Jr., George F. Frederick, William G. Chapman, Howard C. Work, Paul Goff, Raymond E. Church.

The collection of all content on this website is the property of Mackey's Antiques & Clock Repair and is protected by U.S. and International copyright laws © copyright 1997-2015 All Rights Reserved