USA > Ohio > Guernsey County > History of Guernsey County, Ohio, Volume I > Part 21
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We said, "Cambridge has grown fifteen times since we first knew it." Then there was but one barber, old Moman Morgan, colored. He went around, twice a week, from house to house, carrying his tools, soap and lather pot, and a head rest that could be attached to an ordinary chair. The barbers of today, who sport their white roundabouts, are not yet up in style to Morgan, for besides a white roundabout, he wore a long white apron. The perfumes of that day were what Eli Marsh, a later colored barber, called the "condi- ments, bar's oil, goose grease and pomade."-Written for the Cambridge Times by Col. C. P. B. Sarchet in 1906, as a reminiscence of old times.
GUERNSEY COUNTY'S FIRST BANK.
Up to the war 1848, the banking business necessary for the commerce of Guernsey county was done at Wheeling, Zanesville and Mt. Pleasant, in Jeffer- son county. In those days the raising of livestock for the eastern markets was the chief source of income in money to the county, and there were many drovers who, or nearly all, were dependent on the banks for accommodation. In 1845 the Legislature passed an act establishing the State Bank of Ohio, with its system of branch banks. Early in 1847 the question of establishing a bank in Washington was discussed, and resulted in the circulation of papers for stock subscriptions. One hundred thousand dollars of such subscriptions were secured on the 17th day of December, 1847, and proceedings had in com- pliance with the general act of incorporation. Three ineffectual attempts at this were made, one on the 3Ist of December, 1847, another on the 24th of January, 1848, another on the 15th of June, 1848, and on the 24th day of June the formal proceedings were satisfactorily completed, and the bank authorized to do business under the name of the "Guernsey Branch of the State Bank of Ohio, at Washington." From the beginning until its close the business of the bank was prudently and successfully managed, and the bank
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enjoyed at every moment of its existence the full confidence of the whole com- munity. To be sure, there was the "crow-bat" excitement, and once notably, during a time of panic, a run of bill-holding brokers from abroad, but the Guernsey Branch was equal to all emergencies and was regarded as among the well-managed banks of the state. John McCurdy was president of the bank from its organization to its close. Its first cashier was William Skinner, who was succeeded by George Fracker, and he by George A. Endley, after whom came Simon B. Lawrence, who remained as cashier until the business was closed up. The first board of directors was composed of John Craig, Henry H. Evans, John McFarland, Kileon Hagar, Charles Hare, John Beymer, Francis Rea, and John Hall .- Jeffersonian, March 9, 1876.
NATIONAL BANK OF CAMBRIDGE.
The National Bank of Cambridge, No. 6,566, was organized in 1863, as the first bank under the national banking act of 1863 in Guernsey county, its original number being 141. After the expiration of the first twenty-year charter, in 1882, its charter was renewed by a reorganization and the number of the second bank's charter was 2,861, and this twenty-year charter ran out in 1902, when another re-organization took place, hence a new charter and this, the present one, is numbered 6,566. It will be observed that only one hundred and forty banks in the United States had applied for a charter prior to this one, under the then new banking laws of our country, and which have proven such a great success to the people, both bankers and depositors. The original capital of this bank was one hundred thousand dollars, of which sixty-five thousand dollars was paid in at the opening of the bank and within a few months (April, 1863) the balance was paid in. The original stockholders included many of Guernsey county's best men, of the town and country. The following is a list of their names, and it may be said that all are now deceased, but it must be remembered that this bank dates back forty-seven years : Stephen B. Clark, John C. Douglass, Isaac Morton, Robert F. Burt, Nicholas Priaulx, James Beggs, Andrew Henderson, Henry McCartney, Walter Bogle, James Nelson, Thomas Johnston, Isaac W. Hall, George Morrison, George B. Leeper, Samuel Harper, Samuel Stranathan, Daniel Burt, Thomas Lapage, William Rainey, Bernard Brown, John Ogier, Jr., William Black, William N. Farrar, John Marquand, Eli Hall, Samuel Craig, William H. Bell, Marling Oldham, William Black, Charles J. Albright, John Crook, Joseph Fordyce, John Hall, Thomas Hall.
In October, 1863, at a meeting for the selection of directors, the follow-
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ing were elected : S. B. Clark, I. W. Hall, R. F. Burt, William Rainey, Ber- nard Brown, Joseph Fordyce, Samuel Harper. The directors elected as their president S. B. Clark; John R. Clark, cashier. On January 9, 1866, John R. Clark tendered his resignation as cashier and Samuel McMahon was appointed his successor. Then A. C. Cochran was appointed cashier. On February 20, 1880, Mr. Cochran resigned and A. R. Murray was appointed his suc- cessor.
On November 27, 1882, the stockholders voted to go into liquidation for the purpose of re-organizing. Application was made to the comptroller of currency and received charter No. 2,861, to be known as the Old National Bank of Cambridge, with a capital stock of one hundred thousand dollars. The following were the stockholders, under the bank's second charter: S. J. McMahon, R. F. Burt, W. A. Rainey, J. W. Campbell, A. R. Murray, W. M. Farrar, C. J. Albright, S. W. Luccock, J. M. Ogier, W. H. Ledlie, W. B. Cosgrave, Henry McCartney, James T. Lindsay, S. B. Clark, W. M. Scott.
January 12, 1883, the following directors were elected : S. J. McMahon, S. B. Clark, W. A. Rainey, W. B. Cosgrave, J. M. Ogier, J. W. Campbell, Henry McCartney. The board then organized by electing S. J. McMahon, president ; J. W. Campbell, vice-president; A. R. Murray, cashier. January 10, 1903, C. S. McMahon was appointed assistant cashier. January 12, 1903, the stockholders voted to go into liquidation again, for the purpose of again renewing their charter and reorganizing, as required by the banking laws. Application was made to the comptroller of currency for new charter, which was issued as No. 6,566, to be known as the National Bank of Cambridge, with a capital of one hundred thousand dollars. Under this new charter, the following persons were the stockholders: S. J. McMahon, J. W. Campbell, A. R. Murray, J. M. Ogier, C. S. McMahon, Charles Mast, Fred L. Rose- mond, S. M. Burgess, Walter N. Patterson, S. W. Luccock, Rebecca Lidlie, W. W. Harper, R. M. Hood, R. V. Orme, A. P. Frame, A. Westwood, A. M. Sarchet, G. W. Smith.
On January 13, 1903, at the annual election for directors the following were elected: S. J. McMahon, J. M. Ogier, S. M. Burgess, Fred L. Rose- mond, J. W. Campbell, A. R. Murray, S. W. Luccock. On October 31, 1905, A. P. Frame was appointed by the board as a director, to fill the place of J. M. Ogier, made vacant by his death.
The present ( 1910) officers of the bank are: S. J. McMahon, president ; A. R. Murray, vice-president; C. S. McMahon, cashier; W. N. Patterson, assistant cashier ; G. W. Smith, teller ; W. L. Orme and Miss Myrtle Ogier, bookkeepers.
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Concerning the business transacted by this pioneer national banking house in Cambridge, and the location of the bank itself, it may be stated in · this connection that it was first kept in the parlor rooms of the private resi- dence of Dr. Vincent Haynes just on the next lot east of the present bank site. In April, 1867, the records of the bank show that the directors author- ized the erection of the present bank building, which stands on lot No. 52, Wheeling avenue, and here the bank has had its home for all of those forty- three years.
The First National Bank, as it was styled in April, 1865, made their statement, in which it was shown that the capital was one hundred thousand dollars : surplus and undivided profits, six thousand four hundred and ninety- two dollars, with deposits amounting to fifty-six thousand five hundred and seventy-eight dollars.
The last statement, issued before the bank reorganized in 1882, gave their capital and surplus, with the undivided profits, as one hundred and twenty- nine thousand nine hundred and ninety-five dollars with deposits amounting to four hundred and twenty-nine thousand nine hundred and four dollars.
The last statement issued by the National Bank of Cambridge, the pres- ent organization, shows (September 1, 1910) loans and discounts, four hun- dred sixty-six thousand nine hundred and sixty-four dollars; United States bonds, sixty-one thousand five hundred dollars; banking house and fixtures, nine thousand five hundred dollars; total resources, seven hundred eight-one thousand and fifty-seven dollars and sixty-six cents. The amount of capital stock is one hundred thousand dollars; surplus and undivided profits, eighty- six thousand nine hundred and eighty-four dollars and eighty-eight cents; individual deposits, subject to check, four hundred thirty thousand seven hun- dred and thirty dollars and seventy-two cents ; demand certificates of deposit. ninety-six thousand three hundred and twenty-three dollars and fifty-eight cents, with other items to make the total liabilities same as resources named, seven hundred eighty-one thousand and fifty-seven dollars and sixty-six cents.
Through all the shifting years-almost a half century-this institution has remained firm and solid, notwithstanding the three great panics that have overtaken the country since the bank first opened its doors in 1863, when the Civil war was at its height. It has ever had conservative men at its head, as directors and officers, and has been patronized by stockholders and depositors throughout Guernsey county, who have given it standing and reliability. The people, of all classes and nationalities, have had confidence in this bank and they have never been disappointed.
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GUERNSEY NATIONAL BANK.
The Guernsey National Bank, of Cambridge, was organized in 1872, its charter being the oldest in the city, and is numbered 1,942. This banking institution was formed by Col. J. D. Taylor and his associates, John Mc- Burney, John Heaume, William Lenfesty, John Ogier, George H. Boetcher, A. A. Taylor, E. Nyce, J. O. McIlyar and others.
The original capital stock was one hundred thousand dollars, then in- creased to one hundred and fifty thousand dollars. Its first officers were : J. D. Taylor, president ; W. A. Lawrence, cashier; A. A. Taylor, assistant cashier.
The present capital is fifty thousand dollars; surplus, twelve thousand five hundred dollars; deposits, one hundred and seventy thousand dollars, and the 1910 officers are: H. W. Lawrence, president; J. W. Scott, cashier ; C. H. Willis, assistant cashier. The bank owns its own building, erected for the purpose in 1872-73, at No. 647 Wheeling avenue. No robbers have invaded this bank in the almost two score years of its history, but some loss was sus- tained in the fires of Cambridge, in 1895 and 1902.
CITIZENS SAVINGS BANK.
The Citizens Savings Bank, of Cambridge, was organized in 1899. Its present officers are: S. M. Burgess, president; W. B. Cosgrove, vice-president ; D. M. Hawthorne, secretary and treasurer; J. C. Bow- den, cashier ; D. M. Hawthorne, assistant cashier.
The directors are: C. Stolzenbach, John Hoge, S. M. Burgess, T. WV. Scott, William Hoyle, H. P. Woodworth, W. B. Cosgrove, W. C. Brown, D. M. Hawthorne.
The official statement for September 1, 1910, shows resources and liabilities amounting to $347,766.54 each. In these are the items of resources : Loans on real estate, $238,589; loans and collateral, $40,427; United States bank notes, $4,405. In the list of liabilities are the fol- lowing items: Capital stock, $30,000; surplus fund $22,500; undivided profits, $2,083; time certificates of deposit, $81,233; savings deposits. $192,940.
CENTRAL NATIONAL BANK.
The Central National Bank, of Cambridge, was established in 1882, with an original capital stock of $100,000. Its first officers were A. J.
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Hutchison, president ; W. E. Bowden, cashier. They own the magnifi- cent, strictly modern building, the same having been erected in 1904. It stands on the corner of Wheeling avenue and Eighth street, at the southwest corner of the public square, and is a five-story structure, with fine offices on the floors above the banking rooms on the ground floor. It is also a United States depository.
Their present officers are: E. W. Mathews, president; John R. Hall, vice-president; M. L. Hartley, vice-president; W. S. McCartney, cashier ; E. B. Milligan, assistant cashier. Directors: E. W. Mathews, John R. Hall, M. L. Hartley, C. R. McIlyar, John E. Sankey, J. H. Opperman, C. F. Craig, W. S. McCartney, A. J. Bennett.
Their November, 1910, statement shows that they had resources and liabilities amounting to $555,991. The loans and deposits amount to $177,902 ; United States bonds, $106,618. The capital is still $100,000 and a surplus and undivided profits of $52,969; deposits and money dne banks amounting to $307,722.
The management of this bank has always been first class and it has withstood the panics that have at various dates disturbed other cities, and has always been able to pay out on demand all that was called for. Its officers are thoroughgoing business men and treat all in a gentle- manly manner.
CAMBRIDGE SAVINGS BANK.
The Cambridge Savings Bank (state incorporated) was organized April 8, 1905, with a capital authorized at $50,000, $30,000 of which was paid up. The gentlemen who founded the bank were the following stockholders: B. F. Sheppard, C. C. Cosgrove, J. B. Giffee, R. Kirk- patrick, J. O. Carnes, R. V. Acheson and J. E. Bair.
The officers from the start have been, B. F. Sheppard, president; R. Kirkpatrick, vice-president ; C. C. Cosgrove, secretary and treasurer ; R. B. Acheson, cashier; Emory Ferguson, assistant cashier.
This institution has occupied the present modern banking building ever since it was organized; it is a handsome brick structure at Nos. 806 and 808 Wheeling avenue. The November, 1910, statement pub- lished by this bank showed the following items, among others: Re- sources and liabilities, $233,026.95. Of the resources there was $149,286 in loans on real estate : loans on collateral, $10.930; loans and discounts, $23,929. Of the liabilities there were the items of capital, $30,000; surplus fund, $10,000; undivided profits, $5,917: individual deposits, $45.646; demand certificates, $97,280; savings deposits, $44,181.
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This is one of the financial concerns of Guernsey county of which the citizens are justly proud.
PEOPLE'S BANK.
The People's Bank, of Pleasant City, was established in 1895, with George J. Markley as its proprietor and W. F. Bierly, cashier. No other information is at hand, hence this meagre account taken from the State Bank Directory is here given. (See sketch in biographical volume.) This bank carries on a general banking business in a well furnished banking building and has the confidence of Pleasant City and vicinity.
GUERNSEY BUILDING AND LOAN COMPANY.
The Guernsey Building and Loan Company, of Cambridge, was incorporated under the laws of Ohio, is under state inspection, and has an authorized capital of $150,000, in shares of $100 each. The first officers were: John M. Ogier, president; Joseph Hartill, vice-president ; W. H. Brown, secretary; J. B. Dollison, treasurer; W. H. Brown, at- torney.
It is a purely home institution and no business will be taken from outside this county. Its funds are loaned only on first mortgage securi- ties. It was organized April 26, 1902, and now has assets amounting to over $147,000; it has more than doubled in the last two years. Its present officers are: J. C. Bair, president ; J. R. McBurney, vice-presi- dent; J. B. Dollison, treasurer; E. A. Scott, secretary ; A. R. McCol- loch; attorney. By fair treatment and business principles, this com- pany is winning the confidence of many a man who wishes to employ the building and loan system for securing a home.
BYESVILLE BANKING.
The First National Bank of Byesville was incorporated December 10, 1900, and opened its doors for business in the following February. It has grown and flourished until today it ranks high among the solid financial institutions in Ohio. Its organizers were George S. Trenner, R. H. Mills and others, and its original capital was $25,000. At the close of business in 1901, it had deposits amounting to $52,800, and on September 1, 1907, it had reached the sum of $236,379.04. Coming
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down to the spring of 1910, it had in loans and discounts $114,986; bank fixtures and furniture and building, $5,500; total resources, $223,681.
Its present officers are: George S. Trenner, president ; John A. Thompson,. vice-president; E. P. Finley, cashier; W. A. Thompson, assistant cashier. The directors are: H. H. Wilson, George S. Trenner, John A. Thompson, John W. Thompson, W. H. Wilson, E. R. Finley.
This bank has had a good business standing among the financial institutions of the county ever since its establishment.
In the autumn of 1910 it was believed that with the rapid growth of Byesville, another banking institution would pay; accordingly stock was subscribed by some of the leading business men of the place and $25,000 was raised for the establishment of the Byesville State Bank. J. A. Hoopman was elected president ; Palmer McConnell, vice-presi- dent ; O. L. Howard, cashier. The following comprises the original board of directors: D. S. Hurt, H. C. Egger, J. A. Hoopman, Palmer McConnell, C. W. Eberle, Mike Sherby, O. L. Howard.
The bank will probably be open for the transaction of business sometime during the month of November, 1910.
BANKING AT CUMBERLAND.
The Bank of Cumberland was first organized in 1896, by Evans & Girton, as a private bank. In 1900 J. E. McClelland purchased it from Evans & Girton, the capital stock then being $10,000. Soon after the purchase Mr. McClelland associated with him in business I. C. Young, J. A. Langley, F. L. St. Clair, O. L. Hunter, T. M. Hathaway, and Catherine Roseman, and increased the capital stock to $15,000, and later to $25,000. »
In 1908 the bank was reorganized, making of it a state bank called the Cumberland Savings Bank, with a capital stock of $50.000. J. E. Mc- Clelland was elected president, F. L. St. Clair, vice-president, and J. M. Bracken, cashier.
The present officers are: President, J. E. McClelland; vice-presi- dent, F. L. St. Clair ; cashier, J. M. Bracken.
At the close of business, September 1, 1910, this bank's statement showed resources and liabilities amounting to $77.005.27. The resources showed the items of furniture and fixtures, $1,875 ; loans on real estate, $57,620; other loans and discounts, $67,885.
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Among the liabilities were the items of capital stock, $50,000; sur- plus fund, $1,000; undivided profits, $1,500; individual deposits, subject to check, $63,582 ; demand certificates of deposit, $60,922.
This banking house has always been a conservative concern, safe and sound, and one in which the whole people have ever had the utmost confidence.
SENECAVILLE.
The First National Bank of Senecaville was established December 12, 1904, by C. M. Hutchison, A. U. Hutchison, J. M. Gregg, Milton Finley, J. A. Lanley, S. L. Murphy, Samuel Laughlin, C. H. Gregg and several others. The capital stock is $25,000, with a surplus of $6,000. The present deposits of this banking house is $65,000. The bank owns its own building, on Main street. The present (1910) officers are: C. M. Hutchison, president; J. M. Gregg, vice-president; G. F. Pollock, cashier.
A general banking business is carried on at this point and this con- cern has the confidence of the best citizens of the community in which it operates.
QUAKER CITY.
Banking at Quaker City has come to be of large proportions, the most extensive of any in the county in many ways. The start was made in 1872, when the Quaker City National Bank was established and it is now considered as among the solid financial institutions in eastern Ohio. The late Isaac W. Hall was one of the promoters of this banking house and was its first president, continuing until his death in 1886. He was then succeeded by his son, John R. Hall, who still holds the important position. Hon. W. N. Cowden was vice-president and T. M. Johnson, cashier. The first directors were as follows: Jonathan Rose, Thomas Moore, Eli Hall, Dr. J. T. McPherson, D. C. Goodhart, W. N. Cowden, Isaac W. Hall. Of the original organizers only Messrs. Johnson, Cow- den and Goodhart survive.
At first the stock of this bank was $50,000, but a few years later it was increased to $100,000. By its safe, conservative methods, its vol- ume of business has steadily grown until today (1910) it has a surplus of more than $20,000. Its September statement of 1910 showed $684.835 in deposits; profits of more than $37,000 and a magnificent banking house building valued at $25,000.
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The present officers are : Jolin R. Hall, president; I. P. Steele, cash- ier; H. S. Hartley, assistant cashier. The directorship is H. S. Hartley, John R. Hall, T. M. Johnson, D. C. Goodhart, Joel Hall, Thomas C. Hall and I. P. Steele.
The new bank building was erected in 19og, on the southwest cor- ner of Broadway and South streets. In all of its appointments it is an ideal, modern building, with steam heat and rooms for the convenience of all interested. It is illuminated by both gas and electricity. The structure was designed by architect J. F. Orr, of Cambridge, while the building was constructed by George I. Foreman, of Marietta, Ohio.
CAMBRIDGE LOAN AND BUILDING COMPANY.
The Cambridge Loan and Building Company, who occupy a beauti- ful new business house on Wheeling avenue, at No. 814, was organized February 27, 1885. This building is the home of the city officers and the municipality affairs are here carried on on the second floor of the thoroughly modern building. The lobby is one of the finest in this por- tion of Ohio, being Italian marble of the purest type, the walls being handsomely decorated and the floors of Tennessee marble.
This company was formed and the following directors put in charge: W. K. Gooderl, A. J. Hutchinson, William Hoyle, W. E. Boden. R. W. Anderson, Edward Urban and J. C. Beckett. The first officers were W. K. Gooderl, president; R. W. Anderson, vice-president; J. E. Lawrence, secretary; W. S. McCartney, treasurer. The last named is the only original officer living.
Meetings were first held in the Burgess building, in rooms now oc- cupied by Attorney George Dugan, then in the room above the present Times office, and next to the Madison building.
There have been three presidents, W. K. Gooderl, to January I, 1888; R. W. Anderson, from 1888 to April, 1902; O. M. Hoge, from 1902 to date. James E. Lawrence was secretary from 1885 to February, 1901, T. R. Deselm from 1901 to date.
The present officers are: O. M. Hoge, president; A. M. Sarchet, vice-president; T. R. Deselm, secretary, and W. S. McCartney, treas- urer. The directors are O. M. Hoge, A. M. Sarchet, M. L. Hartley, J. M. Logan, T. E. Cook, W. B. Green, W. N. Bradford. The capital was originally $50,000, but in March, 1890, was increased to $100,000; Feb- ruary, 1893, to $500,000; August 4, 1903, to $1,000,000. The stock
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now in force amounts to $700,000 in shares of fifty dollars each. The number of stockholders is now one thousand. This company loans only on first mortgage property and has never lost a dollar yet and many a poor man in Cambridge has been able to secure his home by this method of making his loan. It is certainly one of the city's safe and solid financial institutions.
BANK FAILURES.
There have been two bank failures in the history of the county. the one of the McCracken Bank, in about 1867, which was said to have been occasioned by the decline of wool, in which the bank had heavily invested at the close of the Civil war period, when prices took a great tumble and caught many of the best business men, merchants and bankers from one end of the country to another. The depositors were heavy losers. This bank had been robbed a few years prior to its failure and among other valuables taken were some government bonds. The thieves were never captured.
The latest and second bank failure was that of the Commercial Bank of Cambridge, in June, 1904, when this institution closed its doors and went into the hands of a receiver, it being a state banking house. The two chief stockholders and officers both absconded and later it was discovered that they had taken from the bank's funds money amounting to more than $160,000. The capital of the bank was $40,600. Later in that year one of the absconders was discovered living in Los Angeles with his wife, and soon was arrested upon intelligence sent from Cam- bridge, and he was brought back and stood trial. It was a long-drawn- out case, tried before Judge Mackey, and the verdict of the jury was "guilty." He was tried on many counts, but only one sustained and that for the embezzlement of eighty-five dollars. The case was appealed to the circuit court and the accused man was acquitted. The other party connected with the bank failure was never heard from.
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