USA > New Jersey > Passaic County > Paterson > History of Paterson and its environs (the silk city); historical- genealogical - biographical > Part 46
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In 1889 the company purchased the northeast corner of Main and Mar- ket streets and there erected the building it has since occupied. The present managers are : Edward T. Bell, John H. Reynolds, Leopold Meyer, Louis F. Braun, Francis Scott, Edmund LeB. Gardner, Garret A. Hobart, William R. Meakle, Robert J. Nelden, Andrew F. McBride, Albert L. Bannister, William Warren Barbour, C. Frank Kireker, Charles L. Auger. The officers: Robert J. Nelden, president ; Edward T. Bell and Edmund LeB. Gardner, vice-presi- dents ; Albert L. Bannister, treasurer ; William R. Meakle, secretary ; Justus C. Botbyl, assistant treasurer and assistant secretary.
Its report on January 1, 1919, showed the following figures :
Bonds $9,994,385 77
Due Depositors
$16,765,372 22
Mortgages
4,483,279 63
Capital Stock
1,000,000 00
Collateral Loans
2,359,253 95
Surplus 683,720 88
Banking House
405,000 00
Other Real Estate.
273,550 00
Cash on Hand and in Banks
933,623 75
National Bank Notes in Cir- culation 97,800 00
Deposits 7,533,594 83 Of which $4,687,346.66 were in the sav- ings department.
TOO NEW YORK DURDO LIUBABY
I AND
THE PATERSON NATIONALBANK
The Paterson National Bank.
367
BANKING INSTITUTIONS
Believing that there was a good field for another bank in Paterson, a number of gentlemen who had large interests in this city met in the summer of 1889 and formed themselves into a stock company with a capital of $200,000. The new organization under the name of the Paterson National Bank began operations on the 10th of July, 1889, on the lower floor of the Hobart-Pennington building in Ellison street. Mr. William Strange had been elected president, Mr. Harwood B. Parke, vice-president, and Mr. Henry C. Knox, cashier. In 1890 the bank acquired a piece of property on Market street, opposite Washington street, and there erected a five-story building which it occupied until the great fire in 1902, when the building was totally destroyed. Temporary quarters were occupied for a short time at No. 100 Broadway, after which the bank took possession of a store on the south side of Market street, between Prince and Clark streets. Here the bank remained until the completion of the building at present occupied. The directors are: John W. Griggs, J. Edwards Barbour, William H. Beattie, John W. Ferguson, Elmer Z. Halstead, August J. Hunziker, Henry C. Knox, Charles E. Lotte, Samuel V. S. Muzzy, Arthur Ryle, Leonard Schrepfer, Alfred R. Turner. The officers: John W. Griggs, president ; Elmer Z. Hal- stead, vice-president ; Daniel H. Murray, cashier. The report of the bank on May 12, 1919, showed the following figures :
Loans and Discounts. $2,824,884 47
Capital Stock Paid.
$300,000 00
U. S. Bonds to secure Cir- culation
200,000 00
Undivided Profits, less Ex-
penses
Interest Collected and not
earned
14,885 66
Certificates of Indebtedness and U. S. Liberty Bonds pledged for Bills Payable. Liberty Loan Bonds Un-
210,000 00
U. S. Bonds borrowed.
110,000 00
Acceptances under Guaran- tee of this Bank.
540,206 64
Bonds, Securities, Etc .. ..
385,246 21
Banking House, Furniture and Fixtures
224,000 00
U. S. Government. $498,302 14
Banks 395,707 97
Cash in Vaults and Due from National Banks ..... Customers' Liability, account Acceptances
1,135,109 50
Individual
4,320,725 99
540,206 64
Surplus Fund
300,000 00
U. S. and other Bonds to se- cure U. S. Deposits. .. 787,750 00 U. S. and other Bonds to se- cure Postal Savings. . 142,000 00
Circulating Notes Outstand- ing 195,000 00
Bills Payable
200,000 00
pledged
28,300 00
Deposits:
258,918 22
The Paterson Safe Deposit and Trust Company was organized under the banking laws of this State in the latter part of December, 1890, when the following were elected directors: John W. Griggs, Watts Cooke, William T. Ryle, Francis K. McCully, John Jay Knox, Harwood B. Parke, William Barbour, Samuel V. S. Muzzy, Charles Agnew, James Inglis, Jr., William Berdan, Henry C. Knox, Samuel J. Watson, Frank W. Allen, Frank R. Allen. Hon. John W. Griggs was elected president ; James Inglis, Jr., vice- president, and Mr. Frank R. Allen, secretary and treasurer. This bank is closely affiliated with the Paterson National Bank and with it lost its home in the great fire. The two banks now occupy the same building. The direc- tors of the bank are: Charles Agnew, J. Edwards Barbour, E. Cadgene,
368
PATERSON AND ITS ENVIRONS
Fred W. Cooke, Alfred Crew, Michael Dunn, John L. Griggs, John W. Griggs, Henry C. Knox, Louis Levi, Francis K. McCully, Herbert W. Mills, Samuel V. S. Muzzy, Arthur Ryle. The officers: John W. Griggs, presi- dent ; Fred Labaugh, treasurer. The following figures are taken from its report of May 12, 1919:
Bond and Mortgages $585,125 00 Stock and Bonds. 3,567,285 75
Capital Stock Paid In. $300,000 00
Demand Loans on Collat- erals
814,788 52
Deposits; Demand Deposits;
Loans to Cities and Towns.
204,000 00
Notes and Bills Purchased. .
58,682 70
posit, and Certified Checks 5,141,795 34
Due from Banks, Etc.
304,302 33
Special Interest Reserve .... 10,000 00
Banking House, Furniture and Fixtures
235,000 00
Other real estate.
9,425 00
Cash on Hand ..
51,691 53
Checks and Cash Items ..
10,092 37
Liberty Loan Subscriptions.
72,200 00
Other Assets
50,156 45
The Citizens' Trust Company was organized in July, 1901, and began business on October I following. The first board of directors consisted of : Henry F. Bell, Peter Quackenbush, Frederick F. Searing, William A. Arnold, Frank H. Maass, Edward Riley, A. H. Knapp, James Eastwood, A. C. Fair- child, Peter O'Blenis, Robert Gaede, James Mitchell, Mangold H. Ellen- bogen, Franz C. Reinhardt, James Simpson. The company began business with a capital of $150,000 and a similar surplus, both of which figures were increased on October 1, 1918, to $250,000. The present directors of the com- pany are: Henry F. Bell, Alfred W. Barnes, John Bluntschli, Arthur H. Dey, James Eastwood, Mangold H. Ellenbogen, Robert Gaede, William M. Inglis, Andrew F. McBride, Clifford L. Newman, Peter O'Blenis, Franz C. Reinhardt, James Simpson, Charles Simon, Charles R. Smith, John G. Tay- lor, Alexander P. Gray, Jr., Raymond G. Buser. The officers: Henry F. Bell, president ; Arthur H. Dey, vice-president and treasurer ; James East- wood, secretary ; A. C. Cheston and Garret H. Storms, assistant treasurers ; Arthur C. Neale, assistant secretary. The report of the company on May 12, 1919, contained the following figures :
Bonds and Mortgages. $473,773 47 Stocks and Bonds. 2,259,547 22
Capital Stock Paid In. Surplus Fund
$250,000 00
Time Loans on Collaterals ..
65,600 00
Undivided Profits (net)
250,000 00 199,964 96
Demand Loans on Collat- erals .
737,425 66
Loans to Cities and Towns.
212,000 00
Notes and Bills Purchased. . 1,462,177 76
Due from Banks, Etc ....
384,783 07
cates of Deposit; Certified Checks; Treasurer's Checks Outstanding; Due to Banks, Etc .; Liberty Loan Sub- scriptions 5,301,712 23
Cash on Hand.
155,928 17
Reserve for Unearned Inter-
Checks and Cash Items. 55,245 86
Other Assets 47,368 12
17,042 83 est
Reserve for Interest, Taxes, Etc. 67,313 57
Surplus Fund
300,000 00
Undivided Profits (net). 153,947 44
Demand Certificates of De-
Other Liabilities 57,094 02
Trust Funds 3,332,769 97
Deposits; Time Certificates of Deposti; Demand De- posits ; Demand Certifi-
Banking House, Furniture and Fixtures 232,000 00
The Silk City Safe Deposit and Trust Company was organized in 1893 and began business on May 10 of that year. Peter Ryle was the first presi-
369
BANKING INSTITUTIONS
dent, but served in that capacity only a short time, when he resigned and his brother, William Ryle, was chosen his successor. Henry Doherty was vice- president and Arnold B. Huyssoon, secretary and treasurer. The directors were George W. Fulton, William Ryle, Christopher Kelly, Charles L. Auger, William C. Martin, Charles A. Ryerson, Louis Teweles, James W. Row, William Shinton, Aaron Sonneborn, Benjamin Eastwood, William H. Belcher, Peter Ryle, Charles Schlageter, Wellington Swift, Henry Doherty, Edward R. Weiss, Charles M. King, John H. Powers, A. M. Decker, Samuel Lucas and Arnold B. Huyssoon. They occupied a part of a building on Mar- ket street, near Main, until 1905, when they moved into a building erected for themselves. On February 3, 1903, the German-American Trust Com- pany opened its doors, occupying a building on Market street, nearly opposite Church street. The incorporators were Edward R. Weiss, Isaac A. Hall, Emil Geering, Bernard Katz, Morris Rhodes, Peter Caspers, S. J. Harmon, Robert H. Fordyce, Wayne Dumont, Julius Schwaab, Henry Muhs, Selig Scheuer, John H. Maus, Frank Atherton, Joseph Bamford, Sr., August Kattermann, Joseph Formanns, Josiah J. Bailey and Albert Froehlich. Ed- ward R. Weiss was elected president ; Julius Schwaab and Isaac A. Hall, vice-presidents, and Robert H. Fordyce, secretary and treasurer. After occupying their limited quarters for seven years they removed to a building erected for them and leased for a term of years on the corner of Market and Hotel (now Hamilton) streets. In 1917 the name of the bank was changed to the United States Trust Company and in 1918 the bank acquired the prop- erty of the Silk City Safe Deposit and Trust Company, business and real estate, and, after considerable alterations, moved into the building hitherto occupied by the latter bank, the Silk City Company going out of business. The directors of the bank are: Wayne Dumont, Alfred Crew, Josiah J. Bailey, Peter Caspers, Julius Brandes, S. J. Harmon, August Kattermann, Albert S. Labar, John H. Maus, William A. Merz, George A. Post, Charles A. Isleib, Richard H. Higgins, Walter S. Mills, J. Willard DeYoe, John G. Yates, Emil Geering, C. Wesley Bensen, Edward R. Weiss and Robert H. Fordyce. The officers: Edward R. Weiss, president; Robert H. Fordyce and Richard H. Higgins, vice-presidents ; C. Wesley Bensen, treasurer ; Peter Cimmino, secretary and assistant treasurer ; Henry C. Christman and Paul A. Kievit, assistant secretaries. The following figures are taken from the report of the bank made on May 12, 1919:
Bonds and Mortgages. $1,344,221 00
Stocks and Bonds .. 4,595,075 88
Time Loans on Collaterals. 18,940 00
Demand Loans on Collat- erals . 1,596,650 98
Loans to Cities and Towns. 145,450 00
Notes and Bills Purchased. 2,099,900 64 Due from Banks, Etc ..... 227,112 16
Banking House, Furniture and Fixtures 383,233 67
Other Real Estate. 16,326 15
Checks and Cash 304,455 76
Other Assets P_24
81,061 86
Capital Stock Paid In Surplus Fund 350,000 00 160,292 35
$350,000 00
Undivided Profits (net).
Deposits; Time Certificates of Deposit; Demand De-
posits; Demand Certifi-
cates of Deposit; Certified Checks; Treasurer's Checks Outstanding: Due to Banks
Etc .; Loan Subscription .. 9,888,643 00 Other Liabilities
63,775 00
370
PATERSON AND ITS ENVIRONS
The Hamilton Trust Company was incorporated November 22, 1899, the incorporators and original directors being: William Barbour, James C. Hinchliffe, E. T. Bell, Dwight Ashley, Nathan Fleischer, Harry Meyers, James Jackson, Bernard Katz, George Wurts, William B. Gourley, Edmund LeB. Gardner, Alfred R. Turner, Christian Braun, Walter Bamford and Eugene Stevenson. William Barbour was chosen president ; Christian Braun, vice-president, and Robert J. Nelden, secretary and treasurer. In 1900 Wil- liam D. Blauvelt and Frank Gledhill were elected vice-presidents and Henry H. Parmelee took the offices of secretary and treasurer. The officers at the present day are: Henry H. Parmelee, president ; Frank Gledhill, vice-presi- dent ; Robert Barbour, vice-president ; William Boyd, Jr., treasurer ; Leonard Wentink, assistant treasurer ; George A. Schultze, secretary.
The following figures are taken from its report dated June 30, 1919:
Bonds and Mortgages ...
$482,720 79
Capital Stock Surplus Fund
United States Bonds and
Undivided Profits (net). .
United States Certificates of Indebtedness
1,489,800 00
Stocks and Bonds.
1,968,362 19
Demand Loans upon Collat- erals
705,079 54
Time Deposits; Time Cer- tificates of Deposit; De- mand Deposits; Demand Certificates of Deposit; Certified Checks; Treas- urer's Checks Outstand- ing
8,283,698 22
Loans to Cities and Towns Notes and Bills Purchased Overdrafts .
324,161 19
Amount Due Federal Re-
500,000 00
Cash Due from Banks; Cash
on Hand: Checks and
Other Cash Items
1,387,904 76
Banking House
165,933 41
Safe Deposit Vaults.
20,000 00
Other Real Estate.
85,559 II
Other Assets
21I 50
Customers' Liability Account of Acceptances
202,266 21
$500,000 00 400,000 00 65,899 84
Time Loans upon Collat-
erals
89,801 0I
3,326,665 30 269 25
serve Bank of New York Liberty Loan Subscriptions Acceptances Based on Im- ports
171,871 99
202,266 21
Reserve for Dividend Pay- able July 1, 1919. .. 9,998 00
Reserve for Interest, Etc ...
115,000 00
The Franklin Trust Company of Paterson opened its doors for business on April 30, 1917. The present board of directors, slightly changed from the first board, is as follows: Thomas J. Arnold, Charles A. Bergen, Abra- ham D. Cohen, Philip Dimond, William L. Dill, Frank T. Forbes, Frank W. Furrey, John Hollbach, Hugo Huettig, Franklin J. Keller, Michael Lynch, Thomas F. McCran, James McWilliams, Amos H. Radcliffe, Edward Sceery, Louis Spitz, Charles Villa. The officers: Thomas F. McCran, president ; Charles A. Bergen and Edward Sceery, vice-presidents ; John V. Knowlton, secretary and treasurer ; James J. Cullington, assistant treasurer. The extent of business done by the bank is indicated by the following figures from its report of May 12, 1919:
BANKING INSTITUTIONS
37I
Bonds and Mortgages. $80,200 00
Capital Stock Paid In.
Stocks and Bonds. .
622,329 20
Surplus Fund
Time Loans on Collaterals.
34,789 00
Subscribers, Equipment Ac- count
22,500 00 39,891 78
Loans to Cities and Towns. 104,000 00 Notes and Bills Purchased. 666,949 61 Overdrafts . 189 34
Due from Banks, Etc. 396,521 35
Furniture and Fixtures 20,995 61
Other Real Estate
110,000 00
94,150 25
Checks and Cash Items. 6,572 24 Other Assets
6,908 72
Undivided Profits (net). . . Time Deposits; Demand De- posits; Demand Certifi- cates of Deposit; Certi- fied Checks; Treasurer's Checks Outstanding .. .. Liberty Loan Subscriptions. Other Liabilities
1,917,817 76
Cash on Hand.
60,909 14
3,115 48
$150,000 00 75,000 00
Demand Loans on Collat- erals .. 192,III 06
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