USA > Pennsylvania > Lehigh County > Catasauqua > A history of Catasauqua in Lehigh County, Pennsylvania > Part 14
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The first place of business was in the Thomas Frederick residence on Front Street below Union, in the room now used as a barber shop. Probably few of the present residents remember the primitive surroundings of the time. On the customers' desk was a glass of shot into which the pens were stnek to take off the ink and keep them from rusting. A pan of blotting sand and a small scoop were provided to use in drying the endorsements on checks, as no blotting paper was in use at that time. An old fashioned fire-proof safe was the strong-
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OF CATASAUQUA
box of the Bank. The management looked about for a permanent location for the Bank, and at a meeting held on January 12, 1858, among other offers of sites for the permanent location of the Bank, David Thomas offered "to present to the Bank a lot of ground at the corner of Bridge and Second Streets and five hundred dollars, if banking house is erected on said lot at any time during the years 1858-59." This offer was refused on a vote of six to five and the James Lackey property (now the Imperial Hotel) was purchased. Here the Bank was
THE NATIONAL BANK OF CATASAUQUA
located from 1858 to 1903, when it moved to its present location, which strange to say is the very property offered to it free in 1858 by David Thomas. It was not acquired under as favorable terms as those offered to it previously. The Lackey store building was remodeled and made suitable for banking purposes. In 1867 extensive alterations were made and the building then was considered very imposing. Business was carried on here until 1903, when the Bank was moved to the present modern structure at Second and Bridge Streets. The Bank was just fairly launched in business when the panic of 1857 occurred, and it was one of the very few banks that did not suspend specie payments during
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THE HISTORY
that trying time. The panies of 1873-1878, 1893 and 1907 were also survived with credit to the strength of the institution.
The Bank of Catasauqua was converted into a National Bank, JJune 20, 1865, and became a member of the Federal Reserve Association in March, 1914. This institution has always been closely identified with the manufacturing, mining, mechanical, mercantile and prodneing interests of the community ; and has shared in its prosperity as indicated by the fact that the dividends paid to its stockholders since its organization, a period of fifty-seven years, average slightly over seven per cent. per annum. The bank has often sacrificed its own good for local interests but the general good of the town and vicinity has been benefited by its actions.
The capital and surplus of the Bank at present is $740,000, with deposits averaging $1,300,000.
The officers of the Bank since its organization have been as follows :
PRESIDENT.
Eli J. Saeger, from 1857 to 1888. M. H. Horn, from 1888 to 1890.
Frank M. Horn, from 1890 to 1899.
Owen F. Fatzinger, from 1899 to 1903. Edwin Thomas, present incumbent, elected 1903.
VICE-PRESIDENT.
John Williams, from 1884 to 1892. Owen F. Fatzinger, from 1892 to 1899. Dr. H. H. Riegel, present incumbent, elected 1899.
CASHIER.
M. H. Horn, from 1857 to 1888. Frank M. Horn, from 1888 to 1890.
Charles R. Horn, from 1890 to 1899. Frank M. Horn, present incumbent, re-elected 1899.
ASSISTANT CASHIER.
Frank M. Horn, from 1880 to 1888.
Charles R. Horn, from 1888 to 1890. II. V. Swartz, from 1904, present incumbent.
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OF CATASAUQUA
TELLERS.
John O. Lichtenwalner
Tilghman II. Moyer
Orange M. Fuller William H. Horn Jolin J. Glick Clifford H. Riegel Ralph C. Boyer
CLERKS.
James W. Mickley John J. Gliek
David A. Tombler, Jr.
Frank M. Horn
Clifford HI. Riegel
Ralph S. Weaver
Howard V. Swartz
Ralph C. Boyer
John A. Frederick
Charles G. Ileilman Ralph C. Solt
Joseph J. Mckeever Charles G. Albert
Charles W. Hopkins
Ella V. Schneller Mame E. Swartz
The present Board of Directors are :
Rowland T. Davies
G. B. F. Deily D. George Dery J. S. Elverson
Charles C. Keiser
Charles E. Lawall George B. Mauser
Lucius H. Mellose
Leonard Peekitt
H. H. Riegel H. J. Seaman
Edwin Thomas
Charles N. Ulrich
At the breaking out of the Civil War, gold and silver immediately went to a premium, consequently fractional silver coin was withdrawn from circulation, and it was impossible to make change for amounts under one dollar. Store keepers and landlords issued serip in denominations from three cents up and much worthless paper was put into eireulation. To overcome this difficulty in Catasauqua, John Williams deposited an amount of money in the Bank of Catasauqua and issued certified cheeks against it in amounts of five, ten, twenty-five, and fifty cents, thus giving the people a currency that was absolutely safe and readily redeemed in legal tender at the Bank. This substitute for currency was used until the government issued its "postal currency."
The notes of the Bank of Catasauqua were redeemable at its counter in gold or at its redemption agency in Philadelphia. The five dollar bill in the
184
THE HISTORY
center of the group is Number One-the first bill issued by the Bank and the first note of any kind paid out over its counter. The one dollar bill is the first note of that denomination issued by the Bank.
This Bank was one of the very few banks that did not suspend specie pay- ments in 1857.
The first note paid out over the counter of the Bank when it opened in 1857 is a five dollar bill, numbered one, and was carried by General William
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Lilly of Mauch Chunk for many years. This note is in the possession of the Bank and is framed with a full set of the notes of all denominations. This col- lection hangs in the Cashier's room at the Bank together with an interesting collection of small checks used as currency during the Civil War, when silver coin disappeared from circulation like magic. As soon as a premium was paid on gold and silver, for a short time, postage stamps were used to pay small sums; but as this was the only kind of money that would stiek to you, it soon became unpopular. Merchants, hotel-keepers, etc., commenced to issue serip
ERMENTS
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185
OF CATASAUQUA
to overcome the inconvenience of this substitute for money. John Williams issued checks for five, ten, twenty-five, and fifty cents which were certified as "good" by M. H. Horn, Cashier. These checks were used by the Iron Company in making pays, and passed current, as their payment was absolutely assured, until the Government issued the postal currency for amounts less than one dollar. This postal currency continued in use until long after the war and was so convenient that many regretted its disuse.
BANK CATASAUQUA 100
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Since 1903 the Bank has occupied its magnificent stone structure at the corner of Second and Bridge Streets. This building necessitated an outlay of upwards of seventy-five thousand dollars and is as fine a building for banking purposes as can be found in any town of ten thousand people in America. The
NONVSVIVO HNESS
TWENTY DOLLARS, AT 73+
DRANK CATA
186
THIE HISTORY
fire and burglar proof vaults, together with a safe deposit vault containing boxes to let, are of the latest design and mechanism.
The popularity which it has attained is due in no small degree to the constaney with which its officials have kept in mind and lived up to their rule of courteous treatment to all, careful attention to details, anticipation of the needs of the banking publie and progressive, yet conservative, management.
THE LEHIGH NATIONAL BANK.
On April 26, 1906, the Lehigh National Bank became a reality, when a member of the stock subscribers met and appointed a committee on organization, consisting of William HI. Glace, Dr. Daniel Yoder, Herman Kostenbader, Sr., Owen Fatzinger, Charles W. Schneller, and Rufus M. Wint.
The committee was instructed to decide on location, select a Board of Direc- tors and look after other matters incident to organization.
The Merchants' National Bank of Allentown was appointed the temporary depository of the new bank.
On May 17, 1906, the directors met and elected William H. Glace, Presi- dent ; James C. Beitel, Vice-President; Hon. Jonas F. Moyer, Cashier; John A. Frederick, Teller; Burtis A. Laub, Bookkeeper. The directors were: James C. Beitel, Dr. A. J. Becker, George H. Dilcher, William H. Glace, Herman Kosten- bader, Sr., Frank B. Mauser, B. Frank Swartz, Charles W. Schneller, Oscar J. Stine, Rufus M. Wint, and Dr. Daniel Yoder, of Catasauqua; HI. A. Benner of Schoenersville; P. J. Laubach of Northampton; James W. Peters of Egypt; James J. Seyfried, East Catasauqua; A. II. Snyder of Weaversville; William HI. Fenstermacher and Thomas B. Schadt of Coplay.
Temporary quarters for the new institution were secured in the Glace brick building, 423 Front Street, two doors above the Mansion House. The bank opened for business on August 1, 1906, under the charter granted by William R. Ridgely, Comptroller of Currency, on June 30, 1906. Over an hour before business began a crowd of people gathered, all eager to be the first depositor. The honor went to Henry F. Savitz, the Catasauqua coal oil dealer.
During the day $104,173.11 were received in deposits. The number of de-
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OF CATASAUQUA
positors was ninety-six, making an average of one thousand dollars deposited by each.
The new institution bought government bonds to the amount of thirty-five thousand dolars, for which it took out eirculation. The bills were all in denomi- nations of ten and twenty dollars, and were signed at the Merchants' National Bank by President William H. Glace and Cashier Jonas F. Moyer. The latter
LEHIGH NATIONAL BANK
signed bill No. 1 with a pen and holder presented by Hon. Fred. E. Lewis, Presi- dent of the Merchants', and he preserved the pen and bill as a souvenir. The Bank prospered at once and the directors were set to work securing their own home. They engaged architeet A. W. Leh of South Bethlehem to prepare the plans for a new building.
Where once stood the James W. Swartz dwelling and office building at Front and Bridge Streets is now located the handsome bank and office building of the Lehigh National Bank. The corporation purchased from the Swartz Estate the buildings located on the ground, forty-five feet on Front Street, one hundred eighty-seven feet on Bridge Street, and forty-five feet on Railroad Alley, for the sum of eighteen thousand dollars. The buildings on Front Street
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THE HISTORY
and on Bridge Street, as far as the Dispatch office, were torn down for the new bank, and building operations commenced May first, 1905, and throughout the year the work progressed variously. The building contraet was awarded to the well-known builder. W. H. Gangeware of Allentown.
The two-story building is forty-five feet on Front Street and seventy-seven feet on Bridge Street. It is colonial in design, the materials being Corning terra cotta, with copper cornice and Wyoming blue stone trimmings. It is pronounced one of the finest and best equipped bank buildings in the Lehigh Valley.
The Bank was the tenth in Lehigh County. It has a capital of $125,000. It started out with deposits of $104,172.11 and now has deposits of $560,000. Loans and discounts are $366,161.78. The stock and bonds owned amount to $259,323.36. The earned surplus and profits are $61,000.
The organization of the Bank at present is as follows: James C. Beitel, President ; Rufus M. Wint, Vice-President ; Jonas F. Moyer, Cashier; Burtis A. Laub, Teller; John S. Matchette, Bookkeeper; James Schreiber, Clerk. The directors are James C. Beitel, Dr. A. J. Becker, Frank B. Manser, August Kostenbader, Charles W. Schneller, Oscar J. Stine, Rufus M. Wint, Dr. Daniel Yoder, P. J. Laubach and James J. Seyfried of this place; H. A. Benner of Schoenersville; James W. Peters of Egypt; A. H. Snyder of Weaversville; Wil- liam F. Fenstermaker and George H. Dileher of Allentown; II. W. Bloss of Slatedale.
HOME BUILDING AND LOAN ASSOCIATION.
Besides our Banking Institutions of Town there are three other financial corporations. They are the Home Building Association, Catasauqua Building and Loan Association, and The Lehigh Building and Loan Association.
The oldest of these three is the Home Building Association. A charter was granted by his Excellency, James A. Beaver, Governor of Pennsylvania, to the Association, and on March 4, 1887, it was incorporated under the laws governing these banking organizations. The amount of the capital stock of the corporation was one million dollars divided into five thousand shares of the par value of two hundred dollars. Only recently the Association voted to change the capital stock to five million dollars. The present officers are : Pres., Reuben F.
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OF CATASAUQUA
Case; V. Pres., John Fisher; Treas., Frank M. Horn ; See., Howard V. Swartz: Solicitor, Chas. N. Ulrich; Directors: Owen A. Fatzinger, Plato W. Troxell, Rufus M. Wint, James M. Lennon, Charles Kemp. P. J. MeNally. Win. J. Evans, Sr., Win. F. Engler, George W. Specht. It meets the second Tuesday in each month.
CATASAUQUA BUILDING AND LOAN ASSOCIATION.
The second Building and Loan Association to be incorporated in the town is the Catasauqua Building and Loan Association. It was incorporated under the laws of Pennsylvania on January 13, 1890. The amount of the capital stock of the Association is one million dollars, divided into five thousand shares of the par value of two hundred dollars. The present officers are: Pres .. Edwin C. Koons; V. Pres., F. J. Fatzinger; Treas., H. V. Swartz; See., Roland Davies; Solicitor. Chas. N. Ulrich ; Directors: Wm. R. Thomas, Jr., H. B. Weaver. Franklin Goldsmith, Allen S. Heckman, Edwin Chapman, James Morrow, Jno. Jordan. It meets the first Tuesday in each month.
TIIE LEHIGH BUILDING AND LOAN ASSOCIATION.
The Lehigh Building and Loan Association was incorporated June 14, 1910. The amount of the capital stock of the Association is one million dollars divided into five thousand shares of par value of two hundred dollars each. The officers are : Pres., Dr. A. J. Becker : V. Pres., August Hohl, Jr. : Treas .. Jonas F. Moyer ; Sec., John Frederick; Solicitor. William H. Schneller; Directors: Joseph Troxell, Preston H. Kratzer, William F. Fenstermaker. Charles J. Phifer, Wil- liam J. Montz, Frank C. Beck, John Smajda, Rufus W. G. Wint, William A. Follweiler, Preston L. Beil, Evan B. Guth.
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THE HISTORY
CHAPTER VII .- TRADESMEN AND CRAFTSMEN
GEORGE B. F. DEILY. George Deily, the father of George B. F. Deily, began the retail coal trade at Union and Canal Streets in 1849 and continued the business until 1862. In 1876 Edwin V. Swartz reopened the yards and de- veloped a Inerative trade which he felt constrained to release in 1882. Two years later George B. F. Deily stocked the yards with mountainons piles of all grades of coal and has conducted a mammoth trade ever since. A yardman is in service during the entire year and three men with two teams are constantly devoted to making deliveries. Mr. Deily also opened a general store on Front and Union Streets in 1885. He carries a large stock of dry goods and notions together with a complete line of groceries.
Mr. Deily owns large and productive farms east of town and many valu- able properties in and about Catasauqua. He is considered a shrewd financier. As a director of the National Bank of Catasauqua, his opinion and advice relative to investments and securities are constantly sought.
J. APPLEGATE AND SONS. The store, known as Catasauqua's Depart- ment Store for a number of years, was established on the corner of Second and Bridge Streets by J. Applegate and Sons, in 1882. In 1885 the place was en- larged. The firm carried large lines of groceries, dry-goods, shoes and rubber goods, carpets and drapery, crockery, glass and china ware, wood and willow ware, etc. September 1, 1909, they leased the grocery department to R. A. Clewell and Bro., who continued until January, 1912. Since the Clewell Bros. retired, J. Applegate and Sons are conducting the dry-goods trade only, devoting their whole building to dry-goods and notions.
JOSEPH TAYLOR AND SONS. This store on Second and Wood Streets was founded by John Mckibben in 1868. During 1870 John Hunter turned it into a liquor store. Joseph Taylor began the general store business in 1868 at
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OF CATASAUQUA
234 Second Street. Later he moved to 227 Second Street and in 1872 he bought out John Hunter. In due time Mr. Taylor took his sons into partnership with himself so that the firm is known as Joseph Taylor and Sons. The firm also carries some green goods, and for a while handled fresh meats.
DAVID GILLESPIE, Jr. The General Store on Second and Mulberry Streets was established by John Brown in 1849. He was succeeded by William Miller and Joseph Forest. David Gillespie, Sr., assumed the business in 1865; and his son David succeeded him in 1904. Additions to the store house were made in 1874, 1894 and in 1906. New lines of goods are constantly being added to the stock in order to meet the demands of the trade.
JAMES E. MISSMER. With a capital of but fifty dollars, James E. Miss- mer ventured into the mercantile life. He began business in a small one-story frame building on the corner of Second and Arch Streets. By elose application he developed a trade of such proportions as to warrant the purchase of additional ground and the erection of a two and one-half story building. The new structure occupies the site of the old one and is twenty by thirty feet in dimensions. The stoek consists of groceries, dry-goods and provisions. In 1912 Mr. Missmer also added the real estate and fire insurance business to his interests. He sells lots of the Hunter farm and builds and sells houses.
W. B. STEINHILBER. William Steinhilber was a native of Minersville, Pa. After he attained to manhood, he was a mine foreman at Ashland for many years. Later, he established a general store at Ashland and conducted it with success. At the outbreak of the War, he enlisted in Company G. of the 129th Regiment of the Pennsylvania Volunteers of Schuylkill County. When he re- ceived his honorable discharge, he drifted into Catasauqua, and later built a grocery store during 1890 on Third and Almond Streets. Success followed his enterprise to the day of his death, August 2, 1904. The business is continued by his son, W. B. Steinhilber.
WILLIAM WEISLEY. William Weisley established the General Store business at Front and Pine Streets in 1879, and has conducted a successful enter-
192
THE HISTORY
prise ever since. He carries a full line of groceries and dry goods besides a few special lines of china and glass ware. By close application to business, by fair and square dealing, and by courteous treatment of his customers, Mr. Weisley has built up a large patronage and a successful business.
E. J. BOYER. Rouben A. Boyer established a general store on Second Street above Church in 1885. He sold out to Thomas Jacoby in 1864, and the latter conveyed the place to E. J. Boyer in 1871. Since this time Mr. Boyer carries a stock of novelties, agate and queens-ware. An addition was built to the store in 1891.
HARVEY F. HOFFMAN. The general store on the corner of Walnut and Fourth Streets was opened by E. A. Troxell. Until 1907 he was its owner and then Harvey F. Hoffman bought the store. Four years later the present pro- prietor built an addition to the original building and increased his stock. The line of merchandise now covers all that a community store should have for the convenience of the dwellers in the neighborhood. The regular morning orders are carried to the homes by the delivery wagon and should any of the household necessities be required at short notice, it is but a step to Hoffman's.
CATASAUQUA MERCANTILE COMPANY. On August 17, 1906, a charter was granted to the Catasauqua Mercantile Company and the firm opened a business along the lines of the co-operative plan in a building at 758 Front Street, belonging to the Bryden Horse Shoe Company. The originators of the plan were connected with the Horse Shoe Works and felt that the workers in the factory and all the residents of that seetion would be benefited by sneh a store. They carry a large line of groceries and dry goods. The second floor of the build- ing is a ware room.
The company at the present time is composed of the following officers : President, Paul Miller; Secretary and Treasurer, John MeAlister; Directors, W. Foster Banks, Charles Frederick and John Moat.
The present manager, Robert T. Rutman, took charge of the business in 1913. Under his efficient management, as well as under that of the six who
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OF CATASAUQUA
preceded him, the Catasauqua Mercantile Company has built up one of the best loeal retail stores.
MATTHEW F. WEBBER. The Matthew F. Webber store, located on See- ond Street above Walnut, was opened originally by Preston Lindeman. Reuben Lindeman succeeded the founder. The present incumbent made his debut in the business in 1894. This store carries a full line of groceries, candy, notions and stationery.
JAMES J. SEYFRIED. James J. Seyfried is a native of Nazareth. While still a child his father died, after which he became the charge of friends at Mt. Bethel. As a youth of eighteen summers, he drifted into Catasauqua, and worked for MeKee & Fuller, at the Car, Wheel & Axle Works. During the eighties Sam- uel Hock began the general store business on Eleventh and Race Streets. In 1891 Mr. Seyfried bought the Hock store and continued business on the corner until 1897, when he built the beautiful store and dwelling, the third door from the corner, where he continues his trade to the present time. In 1899, Mr. Seyfried admitted George C. D. Goldsmith intopartnership, which continued until 1912 when Mr. Goldsmith established and built a store for himself. The Seyfried store has on sale groceries, dry-goods, notions, flour, feed, hard-ware, etc.
H. S. WOTRING. The store building on the corner of Church and Lime- stone Streets was erected by Robert Miller in 1884, and devoted to the shoe trade. William Steinhilber converted it into a general store. Later Mrs. John Downs conducted a store here. Ammon HI. Bachman bought the property from Mrs. Downs. H. S. Wotring purchased the place in 1907 ; and during 1910 he built an addition by which he more than doubled the capacity of his store. He carries a full line of dry goods, notions, shoes, groceries, cured meats, etc.
MILTON D. WOTRING. Three years ago Milton D. Wotring, the largest stock holder in the Allentown Notion Company of Allentown, Pa., bought all the other shares. This company had been conducting a large wholesale notion business throughout this section. During the years of 1911 and 1912, he ereeted a large building at 1025 Fourth Street, Catasauqua. The plans provided for a store and home into which Mr. Wotring moved his business and family. He
194
THE HISTORY
continued the wholesale business that had been started in Allentown and opened a fine general retail business.
The large established wholesale business is conducted on the second and third floors. The agent employed by Mr. Wotring travels throughout the cement regions and into the city of Allentown. On the first floor the retail department presents to the housewife of this section a very large variety of merchandise, groceries, dry-goods, hardware and notions. In this day a necessity to a mer- cantile business seems to be a delivery wagon, but this store reverts to the older business method and sells all goods across the counter, thus saving the buyer the cost of transportation to the home.
THE BOWEN GROCERY. The ground upon which the P. O. S. of A. building stands was purchased by Joseph Swartz in the beginning of the sixties. During 1881 he erected a large store building in which he and his sons conducted the grocery business until 1887, when Isabella Swartz and her sister purchased the property. David Walters leased the store and conducted a first-class grocery trade for many years. In 1895 the property was bought by the P. O. S. of A. In January, 1903, John Bowen rented the store room for a branch of his large Allentown store. The Bowen grocery contains any and every thing that is good to eat.
THE CHILDS GROCERY COMPANY. The store room in the Eagle Hotel Building on Front and Bridge Streets was occupied in 1856 by Joseph Swartz and Brother. Their successors were R. Beers & Company, D. C. Heberling and Martin Graver. The last named took the general store business in 1893. and later added hardware to the stock. During 1904 Mr. Graver retired and the F. Hersh Hardware Company opened a branch store under the management of H. H. Aubrey. After the hardware store was moved to the Jr. O. U. A. M. Building in 1910, the Childs Grocery Company opened a store carrying a full line of groceries and meats.
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