History of York County Pennsylvania, Volume I, Part 135

Author: Prowell, George R.
Publication date: 1907
Publisher: J. H. Beers
Number of Pages: 1372

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In order to better the financial First system of the United States National. Congress passed an act which was signed by President Lin- coln, February 25, 1863. This new law changed the financial affairs of the country and caused the state banks to discontinue issuing notes. Many of the leading state banks of the country, then in operation, took advantage of the new law and became na- tional banks. This new act of Congress pro- vided for a national currency, secured by. a pledge of the United States bonds and pro- vided for the circulation and redemption of the money issued under the national bank- ing system.

The following is a list of its presidents and cashiers, with their terms of service : Presidents, David Cassat, 1810-1824; Jacob Hay, 1824-1826; Charles A. Barnitz, 1826- 1842: James Lewis, 1842-1845; Michael Doudle, 1845-1858; Henry Welsh, 1858-1867 ; Dr. Jacob Hay, 1867-1874; Henry Welsh, 1874-1879; G. Edward Hersh, 1879-1895; Grier Hersh, 1895-1906; Dr. Henry Nes,

A few months after the passage of the law creating a national banking system, a number of men, prominent in the affairs of York, met and laid plans for the establish- ment of a national bank. The signatures 1906. Cashiers, William Barber, pro tem, of the stockholders were obtained at a meet- 1810-1813; Thomas Woodyear, 1813-1817; John Schmidt, 1817-1835; Samuel Wagner, 1835-1862; George H. Sprigg, 1862-1889; W. H. Griffith, 1889-1896; J. J. Frick, 1896. The capital stock of the bank has ing held December 15, 1863, and the fol- lowing directors were elected: Eli Lewis, Edward Chapin. W. Latimer Small, Daniel A. Rupp, Z. K. Loucks, David E. Small, John L. Mayer, Jacob D. Schall and Daniel Hartman.

York been increased from time to time National as follows: 1814. $50,000; 1830, Bank. $170,000 ; 1834, $185,000; 1837, $195,000; 1841, $210,000; 1848, $250,000; 1852, $400,000; and in 1854, to $500,000. On November 26, 1864, the York Bank surrendered its state charter and be- came the York National Bank, with a capi- tal stock of $500,000. This was the capital in 1907, with a surplus of $300,000. The

Soon thereafter the comptroller of the currency issued his certificate of authority to this body of directors to commence the business of banking under the national law as the First National Bank of York. Eli Lewis was elected president and Henry D. Schmidt, cashier. The bank opened its doors for business on North George Street, northeast corner Clark Alley, March 31.

752

HISTORY OF YORK COUNTY, PENNSYLVANIA

1864. On May 18, 1867, Henry D. Schmidt was chosen president to fill the vacancy caused by the death of Eli Lewis, and Jacob Bastress was cashier. October 2, 1867, Mr. Schmidt resigned and David E. Small was elected president. Z. K. Loucks was chosen vice president April 17, 1876. D. E. Small resigned as president December 4, 1876, and Z. K. Loucks, succeeded, January 15, 1877, and continued until May, 1895, when he was succeeded by Jacob D. Schall, who died in 1904, when M. H. McCall was chosen his successor.

Jacob Bastress retired from the position of cashier in 1899, when John J. Frick was elected and held the office until 1896, when he was elected cashier of the York National Bank. William A. Keyworth served as cashier from 1896 to May, 1900, when R. H. Shindel was elected. John A. Erwin is as- sistant cashier. Ivan Glossbrenner served in different positions in this bank for a pe- riod of thirty years.

In 1884 the bank purchased from the es- tate of Alexander Hay, a dwelling house on North George Street, upon which was erected a large and commodious banking house. With these enlarged facilities, the First National Bank has continued to in- crease its business until it has taken high rank in the financial circles of Pennsylvania. The bank opened in 1864 with a capital stock of $200,000, which a few months af- terward was increased to $300,000. In 1906, owing to the prosperity of the institution, the capital stock was advanced to $500,000. In 1903 the money circulation of the bank was increased from $200,000 to $300,000. From the time of organization to November I, 1906, the bank shows net profits of $1,- 813,139, of which $1,358,000 were paid in dividends, $300,000 placed to the surplus, and $155,134 carried to undivided profits.

The organization of the bank in 1907, is as follows: M. H. McCall, president; R. H. Shindel, vice president and cashier; M. H. McCall, R. H. Shindel, Niles H. Shearer, C. M. Billmeyer, E. W. Loucks, E. K. Emig, S. M. Fulton, George W. Fry and Michael Smyser, directors.

Some of the early directors of this insti- tution were: Isaac Frazer, S. S. Hersh, William G. Ross, James M. Danner, Robert Smith, William H. Souder, James Fulton and W. Latimer Small.

From the year 1814 to 1845,. York County National. there was only one banking in- stitution in the borough of York. It was during the last mentioned year that the York Savings In- stitution was organized as a bank of deposit. The first board of directors of this institu- tion was composed of the following named persons : Daniel Hartman, Christian Lan- ius, Peter McIntyre, Michael Doudel, Charles Weiser, Dr. Luke Rouse, Abraham Forry, Thomas Hambly, William Danner, John G. Campbell and Thomas Baumgard- ner. They organized by electing Charles Weiser president and William Wagner, cashier. July 21, 1846, John G. Campbell, member of the York County Bar, was elected president and held the office until it surrendered its charter and the institution, with a new charter, was organized under the state laws of Pennsylvania as the York County Bank. From this date until 1864, it was a state bank and issued money in vari- ous denominations. In 1852 Eli Lewis was elected president and held the office until 1858, when he was succeeded by Philip A. Small, who was then a prominent merchant and financier. The institution prospered as a state bank, but soon after the national banking law was passed in 1863, plans were laid to surrender the state charter and accept the provisions of the act of Con- gress. Having complied with all the re- quirements of the United States govern- ment, the institution was organized as the York County National Bank, in December, 1864. Its official number is 694. Philip A. Small continued as president of this bank until his death in 1875, when he was suc- ceeded by David F. Williams, who held the office until 1881. Joseph E. Rosenmiller was president from 1881 to 1885, when Dr. William S. Roland was elected. In 1889, the York County National Bank purchased the building now occupied from the banking house of Weiser, Son and Carl, who had dis- continued the banking business. Dr. Ro- land died in 1897 and Dr. James A. Dale succeeded him as president.

William Wagner, the first cashier, was well known as a bank note engraver. He also practiced the art of steel engraving for many years before he engaged in the bank- ing business. He died in 1869, and James A. Schall was his successor, until the year

753

THE CITY OF YORK

I888. Isaac Elliott was cashier from 1888 He then took his three sons into partner- to 1899. He was succeeded by William R. ship with him, Charles F., J. Allen and How- ard D., under the firm name of J. H. Baer & Sons. He died May 3, 1906. The bank- ing house has since been continued by his sons. Horner, who had served as bookkeeper in the bank of Weiser, Son and Carl from 1882 to 1889, and afterward held various posi- tions in the institution which elected him cashier. The capital stock of this bank in 1907 was $300,000, with surplus and profit Farmers National. account of $240,000. The amount of money declared as dividends since it became a na- tional bank is $1,263,000. The York County National bank has largely increased its busi- ness during the past ten years. The board Jere Carl, Charles S. Weiser, David H. Welsh, Samuel Small, Jr., S. Forry Laucks, George W. Williams, Charles Kurtz, David F. Hirsh, Edwin G. Steacy and John W. Gable.

The Farmers National Bank, one of the prosperous financial insti- tutions of York, was founded February 23, 1875, with a capital stock of $200,000. The original board of directors were V. K. Keesey, M. B. Spahr, M. S. Eichelberger, John A. Weiser, W. H. of directors in 1907 were James A. Dale, Jordan, William Smith, Jacob Stair, Charles Spangler and Nathan Lehmayer. The bank was organized February 25, 1875, by the election of V. K. Keesey, president ; and on March I, of the same year, a charter was obtained. The Farmers National Bank and The banking house of Weiser, Son Weiser, & Carl was founded by Charles the Dime Savings Institution purchased the property from E. H. Weiser estate, opposite the Court House on East Market Street, at Son & Weiser in the year 1856. In 1861 Carl. Charles S. Weiser was admitted as a partner under the firm name of Charles Weiser and Son. In January, 1867, Jere Carl was admitted as a member of the firm. Charles Weiser, the founder of this institution, and who had been promi- nent in business and financial circles in York for a period of half a century, died in the year 1867. Up to this date the business of the bank was conducted in the building opposite the Court House, later occupied by the Farmers' National Bank. In 1867 the banking business was removed farther down East Market Street, and in 1884, upon this site, the firm of Weiser, Son & Carl erected a large four-story building in which it continued business until the year 1889. This building is owned and occupied by The York County National Bank. which place both institutions conducted busi- ness for a time. Since 1893 the property has been owned and occupied by the Farm- ers National Bank. The bank opened its doors for business with J. V. Giesey, as cashier, who served until September 29, 1881, when he was succeeded by David H. Gardner, who filled the position from Sep- tember 29, 1881, to February 8, 1882. Henry Nes served as cashier from Febru- ary 8, 1882, to February 21, 1882. Edward P. Stair has filled this responsible position since 1882. Horace Keesey was elected vice president January 15, 1895, and on Oc- tober 10, 1899, president, to succeed his father, who died October 4, 1899. M. B. Spahr has served continuously as a member of the Board of Directors since the time of organization in 1875. Jacob H. Baer, founder of the J. H. Baer & Sons. banking firm of J. H. Baer & Sons was born in West Manches- ter Township and was a son of Daniel and Susan Baer. For twelve years he was a partner of Charles F. Winter in the grain and commission business. In 1872 he engaged in a private banking business and was one of the organizers of the West- ern National Bank and was its president for two years. In 1875 he withdrew from the institution and again entered into the private banking business in which he prospered. The following named gentlemen have also served as direc- tors in this bank: Samuel Lichtenberger, E. W. Spangler, George H. Wolf, J. R. Da- vis, E. M. Koch, Charles B. Wallace, D. Strickler and Silas H. Forry. The charter of the institution was renewed February 25, 1895, the capital stock remaining at $200,000. During the thirty-one years of its history down to 1907, this institution has paid $410,000 in dividends to its stock- holders, besides carrying profits of $100,000 to surplus fund and over $60,000 to profit and loss account.

754

HISTORY OF YORK COUNTY, PENNSYLVANIA

The Board of Directors for 1907 is com- posed of the following named gentlemen : Horace Keesey, M. B. Spahr, Harry P. Wei- ser, John C. Jordan, William H. Burnham, George Hoyer, Charles H. Bear,, Edward Scharzberger and Martin N. Lehmayer.

Western

The series of meetings which had for their object the forma-

National. tion of a national bank in the Fifth ward of the borough of York, commenced April 6, 1875. July 22, 1875, the Articles of Association were adopted, the organization certificate filed and the following directors elected: J. H. Baer, Israel Laucks, William H. Emig, Clay E. Lewis, Frederick Greiman, Albert Smy- ser, Captain John Fahs, Silas H. Forry, Daniel Kraber, Charles A. Klinefelter, H. B. Shroeder, Solomon Myers and George W. Ruby. J. H. Baer was elected president of the board of directors, and M. J. Skinner, cashier. The name selected was "The Western National Bank of York." bonds as a basis of circulation were depos- ited October II, 1875, and consisted of gov- ernment five per cent bonds of 1881. On November 29, 1875, the bank was formally opened for business. Albert Smyser was elected president May 12, 1877. January 10, 1879, M. J. Skinner, the cashier, died, and was succeeded by Clay E. Lewis, who served until the time of his death, Decem- ber 13, 1897. He was succeeded by H. L. Motter, who served until April 20, 1898, when E. A. Rice was chosen cashier. Al- bert Smyser retired as president of the board January 17, 1903, and Captain John Fahs was elected to succeed him. In 1883 the capital stock was increased to $150,000, and was again increased, January 20, 1906, to $225,000 with a surplus of $60,000. The highest annual dividend declared by the bank was ten per cent. The entire amount of money paid as dividends since the organ- ization of the bank is $309,500. Captain Fahs has been a member of the board since the bank was founded. The directors in 1907 were John Fahs, John Zeller, Israel Laucks, M. L. Ebert, W. H. Bott, C. Elmer Smith, Jacob Diehl, W. E. Emig and Fred- erick Brunhouse, Jr. This financial insti- tution has had a successful history and un- der its present excellent management, fills an important position in the business affairs of York.

Drovers and Mechanics Na- Drovers and tional Bank was founded May 22, 1883, with N. F. Burn- Mechanics. ham as president, and J. V. Giesey as cashier. The first board of directors were Samuel Lichten- berger, Edward Smyser, H. J. Gresley, Dr. B. F. Spangler, W. H. Bond, George F. Shive, Israel F. Gross, Frederick Grothe, Jacob Brodbeck and George WV. Holtzinger. N. F. Burnham served as president from the time of organization until December 24, 1890; Israel F. Gross, from January 14, 1891, to June 29, 1898; Samuel Lichten- berger, July 20, 1898, to January 25, 1905. Jacob Beitzel was elected March I, 1905.

Samuel Lichtenberger was chosen vice president July 6, 1898, and two weeks later was chosen president. George W. Holtz- inger served as vice president from July 20, 1898, to January 14, 1903, when Its James G. Glessner was chosen his suc- cessor.

J. V. Giesey, the first cashier, served in that position until October 13, 1894; G. K. Shenberger, from October 31, 1894, to Oc- tober 1, 1903, when W. F. Weiser was elected. The directors for the year 1907 are George W. Holtzinger, Dr. B. F. Spangler, R. A. Paules, Jacob Beitzel, James G. Gless- ner, William F. Laucks, Michael Hose, James W. Kilgore, George F. Shive, Martin Smyser, Andrew Miller, Charles A. Rost Allen Kauffman. The capital stock of this institution is $100,000.

The City Bank of York was organ- City ized March 7, 1887, under the laws Bank. of Pennsylvania. The first directors were C. B. Wallace, G. P. Yost, Ed- ward M. Vandersloot, Edward Myers, E. T. Moul, L. A. Marshall, Charles H. Frey, John J. Reiker, Edward F. Wiest, C. H. Stallman. C. B. Wallace was chosen president and R. H. Shindel cashier. The bank opened for business at 29 West Market Street, in a building purchased for $35,000 from the estate of William Gilber- thorpe. The property was enlarged and adapted to the banking business. The cap- ital stock was fixed at $100,000. Charles H. Stallman was chosen president in 1894, and C. T. Kraft, who had previously held a posi- tion in the bank, was chosen cashier when Mr. Shindel retired in 1900. Immediately

755

THE CITY OF YORK

after its organization, the City Bank was successful in its operations and has carried on an increasing business during the entire period of its history. The capital stock in 1907 is $250,000, with surplus and undivided profits amounting to $85,000. The directors in 1907 were C. H. Stallman, Geoffrey P. Yost, Edwin Myers, Edwin T. Moul, D. F. Stauffer, P. F. Wilt, N. Sargent Ross, J. B. Budding and A. M. Grove.

The York Trust Company was York Trust organized May 12, 1890, as the York Trust, Real Estate and Company. Deposit Company. It was foun- ded for the purpose of carrying on the business of a trust company underact of State Legislature passed April 29, 1874, and also for transacting a banking business, and the ownership, purchase and sale of real estate. The institution was organized by the election of Captain W. H. Lanius as president, and Jonathan Jessop, treas- urer. F. G. Metzgar was elected secretary on January 14, 1892; and was made secre- tary and treasurer, January 12, 1893. Ellis S. Lewis, who had been connected with the institution from 1894, was chosen treasurer October 24, 1899, and has since performed the duties of that office. The institution immediately after its organization, became an important factor in the financial affairs of York. The real estate department pur- chased a large amount of property, and be- gan the erection of dwelling houses in the suburbs of York. This department grew in a marked degree and materially aided in the development of York from a staid and quiet town into an industrial center. On March 26, 1901, the charter was changed from the original name to the York Trust Company. The capital stock at first was $150,000, which was afterwards changed to $250,000, the entire amount of which has been paid in. In 1907 the surplus and undivided prof- its were $80,000. The banking department does a large business. The officers and di- rectors in 1907, were: president, W. H. Lanius; vice president, Smyser Williams : treasurer, Ellis S. Lewis; secretary, F. G. Metzgar; directors, W. H. Lanius, Smyser Williams, A. B. Farquhar, J. W. Steacy, George P. Smyser, J. A. Dempwolf, John Fahs. W. A. Himes, Joseph Parkhurst, S. Nevin Hench, George S. Billmeyer, Charles Young.

Security Trust

The Security Title and Trust

Company was incorporated

March 13, 1893, and opened for

Company. business on April I, of the same year, with an authorized capi- tal of $250,000, of which $150,000 was im- mediately paid in. The original board of directors were: W. F. Bay Stewart, J. T. Kopp, H. H. Weber, C. H. Dempwolf, Adam F. Geesey, E. H. Hauser, D. F. La- fean, I. W. Allen and George D. Gitt. The board organized by electing W. F. Bay Stewart, president; I. W. Allen, secretary ; C. C. Frick, treasurer. Soon after organ- ization the property on East Market Street, adjoining the Court House, was purchased and upon this site a five-story building was erected. The first floor of the building is used for its banking purposes. The other floors are rented for offices. The business of this institution owing to its excellent management has prospered from the time of its origin. In 1903, the entire capital stock of $250,000 was paid in. W. F. Bay Stewart was succeeded in the presidency on January 1, 1896, by D. F. Lafean. C. C. Frick served as treasurer of the institution 'from 1893 until March 10, 1903, when he was elected vice-president. At the same time, R. S. Cannon was made treasurer and W. C. Sudick, assistant treasurer. The board of directors in 1907 is composed of the following members: D. F. Lafean, C. C. Frick, H. H. Weber, C. H. Dempwolf. Adam F. Geesey, W. S. Noss, E. H. Hauser, C. H. Emig.

The Guardian Trust Com- pany received its charter of

Guardian Trust incorporation from the State of

Company. Pennsylvania, April 13, 1903. At the time of organization, the

following officers and directors were elected : M. D. Martin, president ; Jacob A. Mayer, vice president ; James W. Kilgore, secretary and treasurer ; Frank M. Bortner, trust officer; W. F. Bacon, M. D .: D. W. Beitzel, Frank M. Bortner, M. H. Engle, S. F. Glatfelter, D. B. Goodling. A. W. Himes, R. B. Hyson, James W. Kilgore, John J. Landes, M. D. Martin, Jacob A. Mayer, E. K. McConkey, J. E. C. Miller, J. E. Phillips, E. G. Quickel, A. W. Sea- crist, F. M. Small, C. Elmer Smith, Thomas Stubbs, Elmer C. Ziegler, directors. On April 22, the board of directors purchased

756

HISTORY OF YORK COUNTY, PENNSYLVANIA

from the John H. Small estate the commo- dious residence at the southeast corner of Market and Duke streets, for the sum of $45,000, and soon afterward remodelled it for business purposes, the first floor being arranged for use as a banking house and trust company, and the other floors for offices. The large stable on South Duke street, a part of the Small property, was en- Industries. larged and remodelled for use as a City Hall. At the same time, the Wantz prop- erty on East Market Street was purchased for the sum of $25,000, and on the rear of the lot of this property, the trust company erected an addition to City Hall. The trust company opened its doors for business June II, 1903, with a capital stock of $250,000, in 10,000 shares of $25 each. The following named persons have been elected directors to take the places of those who have re- tired: J. E. Baker, Charles M. Nes, Noah Gillen and Francis Farquhar. In 1905, El- mer C. Zeigler was elected to the newly

lishments. Shoemakers, gunsmiths, car- penters, weavers, harness makers and the manufacturers of tools and implements plied their trades in the small shops adjoining their residences. Many weavers made linen goods of flax and tow in every township of York County. Carding mills and fulling mills made woolen yarns and wove them into homespun cloths and cassimeres for the people of the town and country. A grist mill was erected on the Codorus, a created office of second vice president. The short distance northeast of York in 1745.

Guardian Trust Company, under its excel- lent management, has conducted a large and prosperous business. In 1903 the en- time. tire capital stock of $250,000 was paid in.

MANUFACTURING.

continuous development of the manufactur- ing interests of the city is encouraging in the highest degree. The amount of manu- factured goods shipped from the freight stations at York since 1880 has been in- creased five fold.

During the first century of our Early history the inland towns of Pennsylvania were not promi- nent as manufacturing cen- ters. The condition of affairs in colonial days did not require large industrial estab-

A saw mill and grist mill were built about one mile south of the town about the same

Leather was needed for the manufacture of shoes and harness. Jacob Doudel, Mich- ael Doudel and John Welsh were the pio- neers in the tanning industry of York. Charles Barnitz began the brewery busi- ness and was followed by John Barnitz and others of the same name.

Immediately after York was incorporated into a city in 1887, it became an important centre for the manufacture of a great vari- ety of products. It was this enterprise and the encouragement extended by the banks There were half a dozen wagon makers in York before 1775. Gunsmiths were ac- tive and industrious long before the Revo- lution, when they began to make flint lock rifles afterwards used by the Continental army. Soon after the close of the war William Bailey, who had served as a major in the American army, began the manufac- ture of the copper still. Many of these County from 1780 to 1820. Farmers turned their corn and rye into whiskey which found ready sale in the Baltimore and Philadel- phia markets, where it was hauled in large wagons. and other financial institutions that gave an impetus to the growth and development of the city. Industrial establishments are widely distributed and are now found in all the different wards. York does not claim to have many large factories, but a great number of small ones, requiring skilled labor, which furnishes a remunera- tive support to thousands of families. The stills were used in every section of York census of 1900 showed that there were 464 manufacturing establishments, in which 7,687 men and women were employed; cap- ital invested, $9,670,000; cost of material used, $6,000,000; wages paid, $2,000,000; value of products, $12,000,000.

John Fisher was the pioneer clock maker at York. He built a number of tall eight

Seven years have passed by since these facts were gathered. During this period, day clocks which were sold throughout southern Pennsylvania. Other clock ma-

most commendable progress has taken place. Numerous large and small factories kers of note before the. Revolution were have been founded, and the outlook for a Godfrey Lenhart and Elisha Kirk, who

757

THE CITY OF YORK

made the tall clocks which found their way into nearly every home.

There were no large iron industries or foundries in the town before 1800. Bar iron could be obtained by the wagon makers and blacksmiths of York at Spring Forge, which was built in 1755. Pig iron and bar iron were made in abundance at a furnace and forge at the mouth of the Codorus. As early as'1762 ten plate stoves were man- ufactured for the early settlers of York and elsewhere at Mary Ann Furnace, four miles south of Hanover. Most of the tools and utensils for the home and the farm were made in the small shops of the industrious tradesmen of York and vicinity. Manufac- tured goods were hauled here from Phila- delphia and Baltimore to a certain degree, but most of the clothing worn was made by the local tailors who obtained their goods from the weavers of York County. Such was the condition of affairs for more than half a century after the first settlers took up their abode on the banks of the Codorus, when the Province of Pennsylvania was un- der English rule.

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History of York County Pennsylvania, Volume I, Part 135

Author: Prowell, George R. Publication date: 1907 Publisher: J. H. Beers Number of Pages: 1372

Author: Prowell, George R.
Publication date: 1907
Publisher: J. H. Beers
Number of Pages: 1372