History of Washington County, Pennsylvania : with biographical sketches of many of its pioneers and prominent men, Part 133

Author: Crumrine, Boyd, 1838-1916; Ellis, Franklin, 1828-1885; Hungerford, Austin N
Publication date: 1882
Publisher: Philadelphia : H.L. Everts & Co.
Number of Pages: 1216


USA > Pennsylvania > Washington County > History of Washington County, Pennsylvania : with biographical sketches of many of its pioneers and prominent men > Part 133


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524


HISTORY OF WASHINGTON COUNTY, PENNSYLVANIA.


Wolfe, and Moses Little were elected ruling elders, and December 25th of the same year John Hewitt and Andrew Bell were added to the number. On the 25th of May, 1832, the ministers of the denomi- nations in the county and vicinity met in Washing- ton and constituted the Washington Presbytery of- the Cumberland Presbyterian Church. The society purchased lot 83 on Belle Street (now Wheeling), and proceeded to erect a house of worship, which was dedi- cated on the 14th of June, 1835, by the Rev. Alfred M. Bryan. The edifice was erected mainly through the untiring efforts of Samuel McFarland, who, by his own subscriptions and those of a few others, car- ried it forward to completion. The board of trustees from the first were Samuel McFarland, Alexander Ramsay, John Wilson, and William Smith; March 24, 1832, William Smith, Matthew Griffin, Joseph Martin, and Ezekiel Thorp; March 24, 1846, Hugh Munnel, John Guthrie, James McElree, and H. B. McCollum. The elders since those mentioned above were James McDowell, Sept. 21, 1835 ; James Guth- rie, Ezekiel Thorp, and William Smith, March, 1838; Odell Squier, March, 1844; William Smith, September, 1851. The ministers who were called to the pastorate of this church have been the Revs. S. M. Aston, J. Shook, J. Eddy, Milton Bird, A. T. Ruse, W. E. Post, S. E. Hudson, S. Murdock, Philip Axtel, Robert Mar- tin, J. C. Thompson, A. S. Robertson, Frederick Wall, John R. Brown, - Weaver, and John Edmiston. These pastors served until about 1865, when from various causes the church declined, and being with- out a pastor, the members began to unite with other churches. In 1867 the church edifice was rented to the trustees of the Christian Church, and on the 14th of October, 1873, the trustees of the Cumberland So- ciety conveyed the property to them.


African Methodist Episcopal Church .- This so- ciety was formed about the year 1818, with the fol- lowing members: Benjamin Dorsey, George Bolden, John Clonby, Caleb Eddy, Hosk Lives, Margaret Cramer, Hannah Smith, Terry Robinson, Maria Con- ner, Betsy Philips, and Chloe Warfield. A. lot was afterwards purchased in the east end of the town, between Chestnut and Walnut Streets, and a church edifice erected, which was used by the society until 1876; and on the 1st of April in that year the trustees purchased the church building formerly used by the Methodist Church, in which they still worship. The Rev. Mr. Ross is the present minister in charge. The old building is used as a school-house for colored children.


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Wright's Chapel .- The society who worship in this chapel was formed about 1843, under the Right Rev. Bishop J. J. Clinton and the Rev. Abram Cole. The chapel is situated near the old church of the African Methodist Society.


The Branch Bank of Philadelphia .- The original Bank of Philadelphia was chartered on the 5th of March, 1805. By a supplement to the act of incor-


poration, passed on the 3d of March, 1809, the bank was allowed to establish eight branch banks through- out the State, by and with the consent and desire of the people in the place where they intended to locate. : Upon an expressed desire on the part of the people of the borough of Washington and vicinity, they were authorized by the Bank of Philadelphia to choose directors, to be known as Directors of the Office of Discount and Deposit. The following persons were chosen : Parker Campbell, president; David Shields, Thomas Acheson, Robert Hazlett, Hugh Wilson, Alexander Reed, Daniel Moore, David Cook, Alex- ander Murdoch, Joseph Pentecost, John Hoge, James Allison, Thomas Patterson, William Hogg, James Stevenson, and Robert Rowland. The' directors elected John Neal cashier.


A lot was purchased on the corner of Main Street and Strawberry Alley, and the banking-office was opened in a house then standing upon it. On the 31st of July, 1809, the cashier advertised that "the bank has commenced its operations." The bank con- tinued business at this place until 1825. On the 1st of August in that year John Neal, "late cashier," advertised, dated " Philadelphia Bank, Office of Dis- count and Deposit, Washington, Pa.," that the office has finally closed, and its concerns removed to the parent bank at Philadelphia. Daniel Moore, Esq., and the Rev. Thomas Hoge were authorized to act for the bank in the settlement of its affairs. In this advertise- ment he also advertised the banking-house for sale.


On the 7th of March, 1818, a law was passed by the Legislature of the State to change the branch bank of Philadelphia at Washington into an original insti- tution, part of which act is as follows :


" WHEREAS, Parker Campbell and Daniel Moore, for themselves, and on behalf of Thomas Patterson, Thomas H. Baird, David Shields, Thomas McGiffin, Thomas Hoge, and Alexander Murdoch, all of the County of Washington, State of Pennsylvania, have entered into an agreement with the Philadelphia Bank for the sale and transfer by said bank of the debts and real property due and claimed at their office of Discount and Deposit at Washington, Pennsylvania, to the persons hereinafter named, and such other persons as may associate or join with them for a bank at Washington. And, whereas, it is represented to the Legislature that by changing the said office or branch into an original bank, with a suitable capital, so as not to increase the present banking capital, or the number of banking institutions heretofore allowed in the State, more general accommodation to the citizens of that county and the adjacent counties would be afforded, and that individual ruin and distress, as well as gen- eral embarrassment, in that part of the State would be avoided, without any prejudice whatsoever to the interests of the State at large. Therefore, Be it enacted, . . . That in the room and stead of the Branch Bank in Washington, Pennsylvania, a bank shall be established in said place with a capital of not less than one hundred and fifty thousand dollars, nor more than two hundred and twenty-six thousand dollars, on the conditions hereinafter specified. That so soon as Thomas Patterson, Thomas H. Baird, David Shields, Thomas McGiffin, Daniel Moore, Thomas Hoge, Alexander Murdoch, Parker Campbell, and such other persons as may become shareholders, . . , and they and their successors and assigns are hereby created and declared to be one body politic and cor- porate, by the name, style, and title of 'The Franklin Bank of Wash- ington, Pennsylvania,' and by the same name shall so continue until the first day of May, A.D. one thousand eight hundred and twenty-five, and no longer. . . . "


The act contains seven sections and twenty articles. Section five provides that the commissioners shall


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WASHINGTON BOROUGH.


open books for subscriptions " three days successively, commencing on the first Monday in May next." Ar- ticle second named the directors, as follows : Thomas Patterson, David Shields, Thomas McGiffin, Thomas Hoge, Alexander Murdoch, Daniel Moore, and Parker Campbell, who were to hold their office until the third Monday in November, 1818. On the 6th day of April, 1818, the commissioners advertised the books open for subscription to commence May 4th, and to be held open three davs. No notice is made in the papers of the day, or in any record that has been found, of any further action taken by the stockholders or directors of the Franklin Bank, and from the fact that the Branch Bank of Philadelphia remained in business under the same style and title as at first, until finally closed in 1825 (as is shown by the statement of the cashier), it is inferred that the Franklin Bank did not comply with the requirements of the law of March 7, 1818, changing the Branch Bank at Washington to the Franklin Bank, and the change was not made.


The Bank of Washington. - The meeting for taking into consideration the expediency of estab- lishing " an Original Bank" in the borough of Wash- ington was held at the house of Richard Donaldson, in December, 1813. J. Lyle was called to the chair, and John Purviance was chosen secretary. The fol- lowing resolutions were submitted and adopted :


" Ist. Resolved, That it is important and expedient to the interests of the people of Washington County that an Original Bank be established in this Borough. 2d. Resolved, That we associate for the purpose, and that a committee be appointed to draft the articles of association to be reported forthwith for our approbation and signatures."


In pursuance whereof, T. Baird, R. Hamilton, and J. Purviance were nominated, who reported the fol- lowing, which were unanimously adopted.


This is followed by seventeen articles of association. A company was formed under the name of the " Bank of Washington ;" the capital stock consisted of ten thousand shares of $50 each. Fifteen direc- tors were to be chosen, who were to be the managers, and the bank was authorized to commence business when fifteen per cent. of the capital stock was paid in. The directors appointed for the first year were Thomas Baird (president), Robert Hamilton, John Lyle, Da- vid Morris, Hugh Hagerty, Isaac Mayes, George Mor- gan, Eleazer Jenkins, William Vance, Dr. S. Mur- doch, Hugh Workman, George Baird, John Watson, Daniel Leet, and John Purviance. The action of the company was presented to the grand jury at the December term then in session, who earnestly recom- mended it to the Legislature, and prayed that a char- ter of incorporation be granted. The board of direc- tors of the Bank of Washington met at the house of David Morris, on Friday, Feb. 25, 1814, and it was re- solved to open books of subscription on the 21st of March in that year at twenty-eight places which were 'designated, and commissioners were appointed to re- ceive subscriptions. This action, however, was post- poned, as it was ascertained that a general banking


law was under consideration in the State Legislature. On the 21st of March following the meeting of the board of directors a general law was passed by the Legislature of Pennsylvania, dividing the State into twenty-seven districts, "in which banks may be established," and "the county of Washington shall be a district, and may establish one bank to be called the Bank of Washington." Under this law the Bank of Washington was organized, and thirteen directors elected. The following-named commissioners were appointed by the act to receive subscriptions in the Washington district : Thomas Baird, Alexander Mur- doch, David Craig, Isaac Mayes, Robert Bowland, Jr., John Watson, Eleazer Jenkins, John Clemens, and ยท James Gordon. The amount of stock allowed for this county was ten thousand shares at $50 per share.


" At a meeting of the Board of Directors of the Bank of Washington, held at the house of David Morris, in the borough of Washington, on the 16th of August, 1814, Resolved, That a president be chosen. The board accordingly proceeded to ballot, and upon counting the votes Thomas Baird was declared duly elected, after which the following resolutions were moved and adopted : .


" Resolved, That a house be rented. Resolved, That the foregoing reso- lution be reconsidered; and further Resolved, That it is expedient to purchase Hugh Wilson's house for the sum of six thousand dollars, with the privilege proposed. Resolved, That Alexander Murdoch, Thomas Baird, and David Morris be a committee to make the above purchase. Resolved, That James Orr, David Morris, and Robert Hamilton be a com- mittee to build the vault and make the necessary repairs for opening the bank as soon as possible.


" Resolved, That the candidates for the office of cashier shall come for- ward with security of thirty thousand dollars, and that one be elected at the next meeting. Resolved, That A. Murdoch, Thomas Baird, and George Morgan be a committee to draft a code of by-laws for the gov- ernment of the board. Resolved, That the board adjourn to meet on the 20th inst. at ten o'clock.


" August 20th .- The board met agreeable to adjournment. Mr. Baird, from the committee appointed to purchase the house of Hugh Wilson, report that they did not think proper to acce.le to the propositions of Hugh Wilson and therefore did not purchase. Resolved, That Thomas Baird, A. Murdoch, and David Morris be a committee to treat with the county commissioners for sufficient ground near the public building to build a banking-house. Resolved, That Thomas Baird, A. Murdoch, and D. Morris be a committee to rent Mr. Hazlett's house. . . . The board proceeded to ballot for a cashier, and upon counting the votes John Bar- rington was declared duly elected. A note was received from Thomas Baird, Esq., resigning his seat as president of the bank; whereupon, Resolved, That a president be elected vive voce. Upon taking the vote Thomas Baird had ten votes and was declared duly elected. G. Baird and G. Morgan were appointed a committee to wait on John Barrington to know if he accepted the appointment. They reported that he did. . . . Resolved, That J. Barrington, D. Morris, and James Orr be a committee to make a vault and make the necessary arrangements for opening the bauk."1


The committee appointed to visit the county com- missioners reported that the public square was to be used for public purposes only, and its diversion to other uses would cause it to revert to the original owners, and the project was abandoned. On the 17th of May, in 1815, the bank purchased of John Wilson a lot, twenty-five by two hundred and forty feet, front- ing on Market Street, for two thousand five hundred


1 John Barrington, of Philadelphia, offered as a candidate for cashier, and presented Daniel Moore, Robert Hazlett, Thomas Acheson, and John Hughes as sureties. At the same time Samuel Cunningham, of Wash- ington, offered as a candidate for cashier, and presented Joseph Pente- cost, Alexander Reed, David Morris, and Parker Campbell as sureties.


34


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HISTORY OF WASHINGTON COUNTY, PENNSYLVANIA.


dollars, "for the purpose of erecting thereon a suit-


the appointment of five managers, and ratifying the able banking-house." On the 31st of July following i action of the managers. The preamble of the act the cashier, J. Barrington, advertised for proposals for brick, stone, scantling, and other material. The build- ing was erected on the site occupied by the present bank building of Samuel Hazlett.


In the general law of March, 1814, Section 10 pro- vided that immediately after declaration of dividends on the first Monday of November in every year the bank "shall transmit eight per cent. on the whole amount of dividend which shall have been declared on said day and during the preceding year to the State Treasurer for the use of the Commonwealth." In case "this section was not complied with, the charter " shall become null and void." This bank continued till No- vember, 1818, when it failed to comply with this re- quirement and forfeited its charter, as did many others in the State from the same cause. The bank forwarded to the bank department proof that the neglect was by reason of an accident, and the charter was restored by act of Legislature, Feb. 2, 1819, and business was re- sumed; but troubles followed, and in the Reporter of July 31, 1819, was published the following advertise- ment :


"In consequence of contemplated arrangements with the Philadelphia Bank having failed, the stockholders of the Bank of Washington, Pa., are requested to meet at the banking-house on Monday, the 20th of Sept. next, to consider the propriety of closing the concerns of the institution as speedily as circumstances will permit.


" By order of the board of directors, " J. BARRINGTON, Cashier. " WASHINGTON, July 31, 1819."


To this action a protest was made, signed by twenty- six stockholders, asking a delay of the meeting fifty days. At a meeting of the stockholders, August 7th, a call was issued for a meeting September 8th (by powers given them in the law of 1814, regulating banks).


The meeting was held the 8th, as called by the stockholders. On the 1st of November the same year (1819) the stockholders again held a meeting, and, after other business, appointed the following persons as a board of managers for the year: James Cum- mins, Samuel Murdoch, Thomas McCall, John Hoge, and David Shields. The managers called a meeting, to be held on the 2d of December, to finally wind up and close the concerns of the institution. To this proceeding the directors objected, and called a meet- ing for an election of directors December 23d. At the meeting held by the managers, John Neal, of the Philadelphia Bank, was appointed their agent to close up the concerns of the bank. Later, the managers called a meeting of stockholders to be held on the 16th of February, 1820, at which time seventy-nine stockholders met at the banking-house either in per- son or by proxy. Craig Ritchie was chosen chairman ; Thomas McCall and William Sample secretaries. Resolutions were passed sustaining the managers. On the 7th of March, 1821, an act of the Legislature was passed confirming the action of the stockholders in


states that no dividend had been declared nor any election of officers held since the third Monday of November, 1818, and the charter of the bank has thereby become null and void, except as to the power and privilege of enforcing prior contracts, and closing its concerns as provided by the act. Later, the prop- erty of the bank was conveyed by Thomas H. Baird to David Acheson, Alexander Murdoch, and John Marshall, trustees, who on the 4th of March, 1822, advertised the property for sale at public vendue, at the court-house in the borough of Washington, on the 25th of March following. A portion of the property of the bank was one brick house and lot on the south- west corner of Market and Maiden Streets; a frame house and lot on the southeast corner of the same street, and other lots, all in the borough of Washing- ton, and fourteen hundred and fifty acres of land in the counties of Washington, Beaver, and Greene. On the 13th of October, 1823, John Neal, as agent, called the stockholders to attend a meeting at the office of Philadelphia Bank on Monday, November 17th, to elect five managers to direct the affairs of the Wash- ington Bank the ensuing year. It is ascertained by the newspapers that the stockholders met year after ! year and elected managers until 1834. Soon after the close of the Philadelphia Bank in 1825, and the re- turn of Mr. Neal to Philadelphia, Joseph Henderson, of Washington, was appointed agent of the managers of the Washington Bank, and so continued till the final closing of its affairs, in the spring of 1834.


First National Bank of Washington,-On the 9th of March, 1836, the Legislature of Pennsylvania passed an act which provided and declared : " That Alexander Reed, Daniel Moore, William Hunter, Robert Officer, Thomas McGiffin, Dr. Francis J. Le Moyne, Henry Langley, John K. Wilson, Thomas McCall, David Eckert, Jacob Slagle, William Brown- lee, George Wilson, Dr. Samuel Murdoch, Walter Craig, Samuel McFarland, James Stevens, Thomas Morgan, John Cook, Enoch Wright, William Smith, Joseph Henderson, Alexander Sweeny, Samuel Mount, Calvin M. Reed, Aaron Fenton, James Ruple, George Black, John Morgan, John Watson, John S. Brady, and Thomas M. T. McKennan be and they are hereby appointed commissioners, who, or a majority of whom, are authorized to carry into effect as soon as they may deem it expedient after the passage of this act the establishment of a bank, to be called and known by the name of the Franklin Bank of Washington, agreeably to acts passed March 21, 1814, March 25, 1824, and April 1, 1835, relative to banks." The bank was authorized to have a capital stock of three hundred thousand dollars, and to be managed by thirteen directors, the charter of the bank to con- tinue in force until Nov. 2, 1850.


The commissioners advertised a meeting to be held Sept. 15, 1836, for an election of officers, which was


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WASHINGTON BOROUGH.


held, and the following named directors were elected : Alexander Reed (president), Daniel Moore, Daniel Huston, David Eckert, William Hunter, Samuel Mur- doch, Nathan Pusey, William Brownlee, Thomas McCall, Robert Wylie, George Wilson, John S. Brady, and Aaron Fenton. John Marshel was after- wards appointed cashier.


At this meeting Daniel Moore, William Hunter, and John S. Brady were appointed "to make inquiry with regard to a suitable house to be occupied by the bank." On the 7th of October, 1836, Mr. Brady re- ported a three years' lease of the property owned by Richard N. Harding, now owned by Mrs. Maria Watson, and occupied by Morgan & Hargreaves' store. On the 7th of October, 1836, it was ordered that the sum of thirty thousand dollars of the Frank- lin Bank of Washington notes be filled up, signed, and registered; that two-thirds of the amount be in


five-dollar notes and one-third in ten-dollar notes. , Two days later the condition of the bank was made


On the 20th of October, 1836, it was " Resolved, that the bank commence discounting on this day two weeks." In accordance with the resolution business opened and bills were discounted on the 3d of No- vember, 1836. The statement of the condition of the bank at this time, November 3d, was as follows : cap- ital stock paid in, $39,095; deposits, $8412; notes in circulation, $1535.


On the 20th of April, 1837, Samuel Cunningham was elected clerk, and retained the position till his death. The statement made by the bank Nov. 1, 1837, is as follows: capital stock paid in, $100,000; deposited, $53,000 ; notes in circulation, $27,000 ; due from other banks, $7462.


During the year 1837 the bank passed through the trying period of general suspension without difficulty. On the 3d of January, 1839, a contract was entered into with J. and H. Langley for the present property of the bank for three thousand dollars, and after the necessary changes were made the bank was transferred to the new office, where it remained until May 10, 1882, when it was removed across the street to the office previously occupied by Samuel Hazlett's bank- ing-office, where it will remain until the new bank building now being erected on the site of the old office is completed.


Alexander Reed remained president of the bank until his death in September, 1842. Daniel Huston was elected president on the 22d of September in the same year, and resigned the 14th of December, 1843. Thomas M. T. McKennan was elected president on the 22d of the same month, and served until his death in July, 1852. Colin M. Reed was elected president on the 29th of July, 1852, and is still in that office. On the 5th of March, 1857, John Marshel tendered his resignation as cashier on account of the infirmities of age, which was accepted, and the following entered upon the books :


" March 12, 1857.


. " After a service of more than twenty years as cashier of the Frank- lin Bank since its organization, John Marshel, Esq., has tendered his


resignation of that office on account of impaired health and increasing infirmities. During this period the bank has sustained no losses compared with the operation of cotemporary institutions, all its liabilities have fu every emergency been punctually redeemed according to their tenor, it hus secured and retained the confidence of the public, and it has yielded I a fair remuneration to its stockholders. In the accomplishment of such results the cashier has had no secondary agency. Services thus faithful demand and deserve an appropriate acknowledgment," which was made in a series of resolutions adopted by the board.


On the 19th of March, 1857, Samuel Cunningham was elected cashier of the bank in place of John Marshel, resigned, but by reason of his advancing age and delicate health he declined, and on the 26th of the same month James McIlvaine, the present cashier, was appointed. The latter part of this year was the famous "panic of '57," but on the 28th of September the Franklin Bank, by their directors, unanimously resolved " That this bank will not sus- pend the payment in specie of all its liabilities." ! known in the following statement : Capital stock, $150,000; circulation, $184,695; deposits, $67,049; due to other banks, dividends, etc., $32,525. The amount of available funds September 28th was $68,896. The drain on the bank was not great, as the resolution restored confidence, but the amount ran down slowly, reaching the lowest point in Jan- uary, 1858, when it was $45,000.


At a meeting of stockholders held Sept. 24, 1864, it was decided to reorganize under the National Bank- ing Law. On the 14th of October the cashier notified the board that two-thirds of the capital stock had signed the articles of association of the First National Bank of Washington, Pa. The organization was effected October 27th. The national bank went into operation with a capital stock of $150,000, in four thousand shares of $37.50 each, and with nine direc- tors instead of thirteen as in the old bank. Officers : Colin M. Reed, president ; James McIlvaine, cashier ; Samuel Cunningham, teller. In the spring of 1865 Mr. Cunningham, being then nearly seventy-seven years of age, resigned his position as teller, and was succeeded in that office by A. S. Ritchie on the 1st of May in that year. Mr. Cunningham died May 17, 1875, in his eighty-seventh year.




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