USA > Washington DC > Washington DC > Centennial history of the city of Washington, D. C. With full outline of the natural advantages, accounts of the Indian tribes, selection of the site, founding of the city to the present time > Part 41
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HISTORY OF WASHINGTON.
22, 1882, being in amount $40,000. The bank had him arrested and tried, and sent to the penitentiary for a term of years. He was afterward pardoned out by the President of the United States.
Up to June 30, 1891, the total dividends paid since the organiza- tion of the bank amounted to $560,055.20, and the amount placed to the surplus fund to $200,000. The total of other profits was $13,318.32, making the total amount of the profits of the business of this bank up to that time $773,373.52.
Mr. George E. Lemon was elected director in January, 1890, and A. A. Wilson vice-president in June of the same year. In addition to the officers supplied by this bank to other banks, mentioned above, there may be noted John E. Herrell, president of the National Capital Bank; William R. Riley, president of the West End National Bank, and two cashiers, Brent L. Baldwin, of the Traders' National Bank, and Wil- liam B. Baldwin, of the National Capital Bank. The surplus and undi- vided profits of this bank on March 1, 1892, amounted to $226,777.76.
The National Savings Bank was chartered May 24, 1870, and opened for business on November 1, that year. Henry A. Willard was the first president of the bank, William Stickney vice-president, Lewis Clephane secretary, and B. P. Snyder treasurer. According to the report of Mr. Willard, president, the first year's business was as follows: Receipts, $499,756.83; payments, $228,059.95, and the ex- penses, $3,417.39. The location of the bank was at the corner of New York Avenue and Fifteenth Street. At the time of the second annual statement, there were 2,114 depositors, no one of whom was
purchased the establishment in which he had learned and practiced pharmacy, and made a gratifying success of his business. Subsequently, he erected on Pennsylvania Avenue a large building, into which he moved, and about a year afterward retired from business. When James G. Berrett was Mayor of Washington, Dr. Clarke was elected a member of the city Council, and he has been for many years a member of the Washington National Monument Association. Since the death of J. B. H. Smith, he has been its treasurer. He is a director in the Franklin Insurance Company, of the Metropolitan Railroad Company, of the United States Electric Light Company, is pres- ident of the Franklin Insurance Company, and since 1877 he has been president of the National Bank of the Republic. This institution, under Dr. Clarke's management, is one of the solid and most prosperous financial institutions in Washington. Dr. Clarke is a brother of Richard H. Clarke, LL. D., the celebrated lawyer and Catholic historian, and president of the Society of American Authors, and of the late Rev. Father William Francis Clarke, S. J., at one time president of Gonzaga College.
Dr. Clarke was married to Anna M. Cripps, only daughter of William McLean Cripps, January 14, 1847, by whom he had three children. The eldest married Thomas E. Waggaman, and, dying in 1889, left three children; the second daughter died at the age of sixteen; the third is the wife of Alexander Porter Morse.
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permitted to deposit more than $1,000. The presidents of this bank have been II. A. Willard, one year; William Stickney, 1872 to 1881; B. P. Snyder, 1881 to 1891. The vice-presidents have been William Stickney, one year; Lewis Clephane, 1872 to 1891. The secretaries have been Lewis Clephane, M. G. Emery, J. II. Lathrop, A. L. Sturtevant; and the treasurers, B. P. Snyder and A. L. Sturtevant. In 1891, this bank went out of business so far as to cease receiving de- posits, which at that time amounted to more than $1,300,000. The accounts have, since that time, been steadily reduced with the view of entirely closing them.
The National Safe Deposit Company, of Washington, was chartered by special act of Congress, approved January 22, 1867, and commenced business July 27, 1867, at the corner of New York Avenue and Fifteenth Street. The first directors of this company were George II. Plant, H. D. Cooke, S. P. Brown, George O. Evans, William S. Huntington, Nathaniel Wilson, and B. P. Snyder. The first officers were S. P. Brown, president; George O. Evans, vice-president; William S. Hunting- ton, treasurer, and B. P. Snyder, secretary. Since that time, the presi- dents have been George II. Plant, 1869 to 1877; William Stickney, 1877 to 1881; B. P. Snyder, 1881 to the present time. The vice-presidents have been George W. Riggs, 1869 to 1881; C. C. Glover, 1881 to the pres- ent time. Secretary, A. L. Sturtevant, 1881 to the present time. Treas- urers, A. L. Sturtevant, 1872 to 1882; John Cassels, 1882 to 1885; T. L. Riggs, 1885 to 1889; E. Francis Riggs, 1889 to the present time.
The fine new building in which this company is now located was completed in August, 1889, at a cost of $250,000. It is of briek and cement, and rests on a concrete foundation. This company now has over $1,000,000 in deposits, consisting largely in transfers from the National Savings Bank. The departments of the business conducted by this company consist of receiving money on deposit from ten cents upward, upon which interest is allowed, and of loaning money on standard collaterals and real estate; of deposits of securities and valuables; a trust department; collection of income; registration and transfers of loans and stocks of corporations.
The National Capital Bank, of Washington, was organized in September, 1889, with a capital of $200,000. It commenced business at the corner of Pennsylvania Avenue and Third Street Southeast, in a leased building, while erecting its own fine building at 314 and 316 Pennsylvania Avenue Southeast, moving into it in March, 1891. The capital remains as at first, and the surplus and undivided profits on March 1, 1892, were $39,608.15. The deposits at the same time
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amounted to a little more than $600,000. The officers of this bank have been, since its organization, John S. Herrell, president; Thomas W. Smith, vice-president, and W. B. Baldwin, cashier.
The Second National Bank was established about July 1, 1872, with a capital of $200,000. On the above date, at a meeting of the stockholders, the following directors were elected: Jolin C. McKel- den, George W. Balloch, D. L. Eaton, Thomas L. Tulloch, F. II. Gassaway, John O. Evans, George F. Gulick, W. W. Burdette, J. L. Barbour, Lewis Clephane, and F. H. Smith. John C. McKelden was elected president, John O. Evans vice-president, D. L. Eaton cashier, and F. H. Gassaway assistant cashier. Business was commenced at No. 631 F Street, the bank remaining here but a short time, however, when it removed to No. 509 Seventh Street, its present location.
Mr. MeKelden served as president until 1877, when he was succeeded by Matthew G. Emery,1 who has been president ever since. D. L. Eaton was cashier for about one year, when H. W. Griffith took the place temporarily, and then, in 1874, Mr. H. C. Swein became cash- ier, and has been in that position up to the present time. John C.
1 Hon. Matthew Gault Emery was born in Pembroke, New Hampshire, in 1818. Himself and five brothers spent their youth on the farm which had been their grand- father's, upon which their father was born and spent his life, and where he died in 1868, at the age of ninety-two. Joseph Emery, the grandfather of M. G. Emery, served six years in the War of the Revolution, first as a lieutenant, then as a captain, in the Thirteenth Regiment, New Hampshire Militia. Matthew Gault, the maternal grandfather of Mr. Emery, served four years in the patriot army, having enlisted July 11, 1775, at the age of nineteen. His regiment of " Rangers," raised by the colony of New Hampshire, served first with General Montgomery's northern division of the Continental Army. Matthew Gault afterward became a member of Captain Samuel McConnell's company, with which he marched to Bennington and Stillwater.
The pioneers of the Emery family in this country were two brothers, John and Anthony, who emigrated with their families from Romsey, Hants, England, landing in Boston April 3, 1635, and settling in "Ould Newberrie," of the Massachusetts colony.
Matthew Gault Emery attended the best schools and academies in his native town, and in 1837 he went to Baltimore, where an elder brother was living, and here determined upon his future vocation, that of builder and architect. He patiently served the time required to make himself a skilled stoneeutter, and in 1840 went with a force of men to the quarry and directed the cutting of the stone for the Post Office Depart- ment building in Washington. In 1842, he established his permanent residence in Washington, thus debarring himself from participation in general elections; but voted. however, in 1840, for William Henry Harrison for President, the only Presidential candidate for whom he has ever voted.
Mr. Emery has had contracts for the construction of many important buildings in Washington, both public and private. He did much of the stone work of the Capitol, and cut and laid the corner stone for its extension in 1851, Daniel Webster delivering the oration. He also cut and squared, free of expense, and on July 4, 1848, himself
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HISTORY OF BANKING.
Eckloff is assistant cashier. In 1884, Mr. M. W. Beveridge succeeded John O. Evans as vice-president, and still remains in that position.
The capital of this bank, as stated above, was originally $200,000. In 1873, it was increased to $300,000, and in 1880 decreased to $225,000. At the present time, it is $225,000, and the bank has a surplus on hand of $75,000, The present board of directors consists of M. G. Emery, M. W. Beveridge, William F. Mattingly, Lewis Clephane, George W. Pearson, W. W. Burdette, Samuel Fowler, Seymour W. Tulloch, John L. Vogt, and A. A. Thomas.
The Citizens' National Bank was organized in 1874, and occupied the building formerly occupied by the First National Bank. The capital of the bank at first was $200,000, and it was raised in 1875 to $300,000. The first president was Jacob Tome, who served in this office until 1875, when J. A. J. Creswell was elected, and served until 1888, when the present president, E. Kurtz Johnson, was elected. The first vice-president was A. R. Appleman, who served until 1878, after which John Van Riswick was elected, and served until 1885, when he was succeeded by E. Kurtz Johnson, who served in that
laid, the corner stone of the Washington Monument, for which service he received the thanks of the board of directors in a series of resolutions, signed, among others, by John Quincy Adams, Henry Clay, and Robert C. Winthrop.
Before the breaking out of the War, Mr. Emery organized a militia company, of which he was made captain. His commission, signed by President Lincoln and Secretary of War Simon Cameron, is dated May 16, 1861. Ilis company was several times called out for the protection of the Government buildings, and to perform patrol duty, until the arrival of the Sixth Massachusetts Regiment. During the War, Mr. Emery was treasurer of the New Hampshire Soldiers' Aid Association in Washington, and assisted in the care of the sick and disabled sokliers from his native State, in the discharge of these duties visiting Gettysburg and other battlefields. A piece of his country property, adjoining Fort Stevens, was injured during the War to the extent of several thousand dollars, but no claim was ever presented for damages. Early in the War, he gave up his Brightwood home for the use of the officers of the Union army. Being the highest point of land in that vicinity, it was made a signal station, and many were the messages transmitted between it and the dome of the Capitol. Evidences of the occupation of "Brightwood" by the soldiers, in the shape of raised plateaus for the flooring of tents, etc., are still visible, and are looked upon by the, family with patriotic pride.
Mr. Emery was for many years a member of the Board of Aldermen, his services proving of great value to the city. In 1870, after a memorable struggle, he was elected Mayor of Washington, as the "Citizens' Candidate," by a majority of 3,194, being the last Mayor of Washington, as shown in another chapter.
In 1872, at the end of thirty years' labor in the business of builder, contractor, and architect, in accordance with a resolution formed at the time of entering upon that business, he disposed of his interests therein to his brother, Samuel Emery, and he has since devoted himself to his other business interests.
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capacity until elected president of the bank; and since that time the vice-president has been Thomas Somerville. The first cashier was W. E. Weygant, who served one year, and was succeeded by W. N. Roach, who was cashier until 1878, when followed by the present cashier, Thomas C. Pearsall. The surplus and undivided profits, according to the statement published March 1, 1892, amount to $93,764.49.
The Central National Bank succeeded the Metropolis Savings Bank, and was organized as a national bank April 11, 1878. For several years, it occupied the old Bank of Washington building, but
Mr. Emery was one of the seven persons who organized the. Metropolitan Metho- dist Episcopal Church, was chairman of the building committee, and has for twenty years been president of its board of trustees. He has been a regent of the Smith- sonian Institution, and was for a long period a trustee of Dickinson College. For ten years or more, he has been a regent, and he is now vice-chancellor, of the National University, organized in Washington. He is also one of the incorporators of the recently established American University; he is one of its regents and is also its treasurer. He has been president of, and is now a director in, the Night Lodging Association, and has been for many years a director and treasurer of the Associated Charities of the city.
In 1854, he was a charter member of the Mutual Fire Insurance Company, and is still one of its directors; he was for some time president of the Franklin Insurance Company and of the National Capital Life Insurance Company, a director of the Metropolitan Insurance Company, and was first treasurer of the Metropolitan Street Railway Company. He was one of the organizers of the Washington Market House Company, was its president for eighteen years, and is still a director. He was for many years a director in the United States Electric Light Company of Washington, and has been its vice-president. At an early day, he was a director of the Patriotie Bank, and afterward, in connection with Mr. Fitzhugh Coyle, he established the National Bank of the Republic, of which he was a director for eight years, and one year the acting president. In 1877, he was elected president of the Second National Bank, and has held the position ever since. He was one of the organizers, and for twenty years a director, of the National Savings Bank, and is a director of its successor, the National Savings and Trust Company. Ile is also a director of the American Trust Company, and is president of the American Printing Press Company.
The home of Mr. Emery, in Washington, is one of a row of three spacious houses built in 1860, by Stephen A. Douglas, John C. Breekinridge, and H. S. Rice, all of which were used for hospital purposes during the War. After the War, they were completed, and the Breckinridge mansion soon purchased and presented to General Grant by his friends. When General Grant was elected President of the United States, the house was purchased and presented to General Sherman by his friends. When General Sherman removed to St. Louis, in 1873, the house was purchased by Mr. Emery, and has since been his home.
During a residence of half a century in Washington, Mr. Emery has been con- stantly identified with all the most important movements for the improvement of the city, has been unceasingly active in the cause of education, unremitting in his efforts to advance the best interests of the people, without regard to race or religion, and above reproach in fulfilling the many positions of trust and honor to which his fellow- citizens have so frequently called him.
dame forments
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HISTORY OF BANKING.
later it purchased and moved into its present spacious and handsome quarters at the junction of Pennsylvania Avenue and C Street at Seventh Street, April 1, 1888. The capital of the bank is $100,000. Its career has always been a successful one. It has paid out in dividends more than $82,000, and has on hand more than $10,000 in undivided profits. Mr. Samuel Norment' was the president of the bank from the date of its organization up to the time of his death, March 23, 1891, when he was succeeded by Mr. William E. Clark.2 Mr. J. A. Ruff was cashier from the organization of the bank
1 Samuel Norment, one of the most prominent business men and bankers of Washington, was born in Virginia. He came to Washington City about 1846, and at first found employment in the Treasury Department. His business capabilities enabled him soon to take a front rank, and when the War came on he held the highest position in his division, which position he then resigned. He soon became engaged in the lumber business, and after a successful career of seventeen years he determined to enter upon the business of banking. Upon the organization of the Central National Bank, April 11, 1878, he became its president, and retained the position until his death, March 23, 1891. For several years, he was a regent of Dickinson College. Ile was also a director of the National Bank of the Republic, and one of the commissioners of the police. He was a large stockholder in the Washington Gas Light Company, in the Washington and Georgetown Railroad Company, in the United States Electric Light Company, in the Kingsley Company, in the Mutual Fire Insurance Company, and in the Inland and Seaboard Coasting Company.
Mr. Norment was a strong believer in the education of the young, and was thus led to make numerous munificent gifts to institutions of learning. He was also exceed- ingly liberal in his donations to charitable institutions, an instance of this liberality being the endowment of the free bed in Garfield Hospital for the benefit of sick and disabled policemen. He was originally a member of Wesley Chapel, but later became one of the original trustees of the Metropolitan Methodist Episcopal Church.
Mr. Norment was married. twice; first to a daughter of Rev. Ulysses Ward, by whom he had three children, all of whom are living. His second wife was a daughter of George W. Utermehle, by whom he had two children, both of whom are living. Mr. Norment was buried March 25, 1891, in Rock Creek Cemetery. Mr. Norment was a most successful business man, a true friend of education, and a zealous supporter of charitable and religious enterprises. In his death the community suffered a severe if not irreparable loss.
2 William E. Clark, president of the Central National Bank, was born in Wash- ington County, Pennsylvania, March 16, 1835. His father, Abner Clark, was a farmer, and William E. Clark was brought up on his father's farm. He was educated at Jefferson College, leaving there in 1855. He then removed to Baltimore and engaged in the live-stock business, remaining there for several years. In April, 1861, he came to Washington, and again in 1862 became engaged in the live-stock business, and has been interested in that business ever since. Upon the death of Samuel Norment, he became president of the Central National Bank. He is also president of the Washington Abattoir Company, vice-president of the United States Electric Light Company and of the National Mutual Life Insurance Company, and is president of the Norfolk and Washington Steam- boat Company. Mr. Clark, in the year 1871, was married to Miss Fannie W. Wilhelm.
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HISTORY OF WASHINGTON.
until 1890, when he was succeeded by his son, A. B. Ruff. The present board of directors are as follows: Albert Gleason, William B. Webb, Il. Browning, B. Charlton, William E. Clark, O. T. Thompson, J. L. Edwards, Levi Woodbury, W. K. Mendenhall, and C. F. Norment. On March 1, 1892, the surplus and undivided profits amounted to $147,340.98.
The Washington Safe Deposit Company was incorporated April 25, 1883, and organized with the following officers: W. G. Metzerott, president; John T. Lenman, vice-president, and Samuel Cross, secretary and treasurer. Mr. Metzerott remained president one year, when John T. Lenman became president, and James L. Barbour vice-president. Mr. Lenman remained president until his death, March 17, 1892, when he was succeeded, April 4, by W. A. Gordon. Mr. Barbour was succeeded as vice president in 1886, by W. A. Gordon, who was followed, April 4, 1892, by William H. Hoeke. Mr. Cross has been secretary and treasurer since the organization of the company. This company's busi- ness is conducted at No. 916 Pennsylvania Avenue.
The Columbia National Bank was organized in February, 1887, with a capital of $250,000. Its first officers were B. II. Warner, president; A. T. Britton, vice-president, and E. S. Parker, cashier. This bank is located at 911 F Street Northwest, in a building erected especially for its use, at a cost of $70,000. It conducts a general banking business, receives money on deposit, makes loans in large or small amounts, and discounts good paper. This bank makes a specialty of collections. The officers at the present time are E. S. Parker, president; A. F. Fox, vice-president, and Pliny M. Hough, cashier. The other directors are as follows: Charles B. Bailey, W. E. Barker, C. C. Duncanson, John Joy Edson, John B. Larner, Benjamin F. Leighton, Frank B. Noyes, M. M. Parker, O. G. Staples, George Truesdell, B. H. Warner, H. K. Willard, and S. W. Woodward. The capital of this bank remains at $250,000, and its surplus at the present time is $85,000. Previously to becoming connected with this bank, its president, Mr. E. S. Parker, had had twenty-three years' experience in the banking business in Mifflintown, Juniata County, Pennsylvania.
The Washington Loan and Trust Company was organized August 15, 1889, with a capital of $600,000, which, during the first year of its existence, was increased to $1,000,000. The original purpose of its organization was that of "buying, selling, loaning upon and negotiating bonds, stocks, promissory notes, and other property, and of guarantee- ing, certifying, registering, endorsing, and supervising the issuance of bonds, stock, and other securities," etc. The officers of the company
It se lelavic
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HISTORY OF BANKING.
at first were B. H. Warner, president; J. J. Edson, vice-president; C. P. Williams, secretary; William B. Gurley, treasurer; John B. Larner, general counsel; J. J. Darlington and A. S. Worthington, advisory counsel, and Albert F. Fox, George Truesdell, A. A. Wilson, and O. C. Green, executive committee. The number of directors was twenty-five. This organization was made under the laws of West Virginia. Business was commenced by the company October 1, 1889, with the office located at the northwest corner of Tenth and F streets, where it worked under the West Virginia charter until December 13, 1890, at which time it reorganized under the act of Congress providing for the incorporation of trust companies in the District of Columbia, approved October 1, 1890. The act is entitled, " An Act to Provide for the Incorporation of Trust, Loan, Mortgage, and Certain Other Corporations within the District of Columbia." This act authorized the transaction of three classes of business, the first of which, and the class conducted by this company, is therein styled, "A safe deposit, trust, loan, and mortgage business."
Upon the reorganization of the company under this act, the following officers were elected: B. H. Warner, president; J. J. Edson, vice-president; William B. Robison, secretary; W. B. Gurley, treasurer; John B. Larner, general counsel; J. J. Darlington and A. S. Worth- ington, advisory counsel. The board of directors consists now of thirty members.
The building into which the company moved October 19, 1891, was erected during that and the preceding year. It is a ten-story building, located at the southwest corner of Ninth and F streets. The building committee was composed of J. J. Edson, chairman; S. W. Woodward, A. A. Wilson, ' George Truesdell, A. F. Fox, John A. Hamilton, and B. H. Warner. The architect was James G. Hill, late supervising architect of the Treasury building. W. C. Morrison was the builder. The principles governing the building committee in the erection of this fine structure were beauty, safety, and convenience. It is constructed of rock-faced granite, of a light color, giving it a massive effect. The frontage on F and Ninth streets is divided architecturally into three divisions by prominent string courses. The frontage on F Street is 52 feet, while that on Ninth Street is 116 feet. An L on the west side continues the south front to a distance of 112 feet. In this magnificent building there are 190 rooms occupied exclusively as offices. The building is fire-proof, and cost $500,000.
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