CORNELL UNIVERSITY LIBRARY BUSINESS HG 2613.774X79"""'""''"''"'^ ^"^ NlimifllllliiinMi? «"""P="y; a history of 3 1924 019 341 886 Cornell University Library The original of this book is in the Cornell University Library. There are no known copyright restrictions in the United States on the use of the text. http://www.archive.org/details/cu31924019341886 THE TRENTON BANKING COMPANY A HISTORY of the FIRST CENTURY of its EXISTENCE PREPARED BY A COMMITTEE OF THE BOARD OF DIRECTORS TRKNTON, NEVi/ JEJRSEY 1907 MacCrellish & Quigley, Printers, Trenton, N. J. PREFACE. The Trenton Banking Company having recently completed a century of prosperous and, it ventures to believe, useful service in the financial affairs of this community, talces pleasure in presenting to its friends a brief history of the origin and development of its life, together with biographical sketches of those who^ have been its directors from the beginning. In 1880, upon the occasion of the seventy-fifth anni- versary of the establishment of the Bank, Mr. Albert J. Whittaker, at that time the efficient and honored cashier, prepared and published an Historical Sketch of the Trenton Banking Company of great interest and value. As that publication is not now easily obtainable, considerable portions of its material have be;en incor- porated in the present history. Extracts from the minutes of the Board of Directors have alsoi been made, which exhibit the history in the making. Grateful for the confidence and favor of its friends in the past, and reflecting with pleasure upon the esteem in which it has been held, the Trenton Banking Com- pany asks for the future a like confidence, and hopes to merit an equal esteem. THE HISTORY. THE INSTITUTION. On December 3d, 1804, the Legislature of the State of New Jersey passed "An Act to erect and establish the Trenton Bankingf Company." The first section of that act provided that a subscription should be opened for $300,000, in shares of $50.00 each, to be tal^en under the direction of James ^^wingf, Joshua Wright, George Abbot, Peter Hunt and Abner Reeder. Those gentlemen, afterward designated Commissioners in the minutes of the stockholders, advertised in the news- papers of Trenton — the Democratic "True American" and the "Federalist" — that on Tuesday, January 8th, 1805, at the City Tavern, in Trenton, they would open subscription books, which would continue open during that day and the three succeeding days, unless the whole number of shares should be sooner filled up. The news- papers of January 14th, 1805, reported that, "About four thousand shares were subscribed last week to the Trenton Bank. The Institution will, there- fore, gO' intO' operation as soon as it can be lawfully organized." Names of shareholders of record February 12th, 1805: George Abbott, Nicholas Arnous, Robert Adams, John Aronson, James Alexander, George G. Ashbridge, George Anderson, William Ashbridge, Thos. Anderson, Anne Atkinson, Thos. Atkinson, Cyrus Austin, Osmond Baily, Joseph Ball, Samuel Barnes, David Barton, Andrew Bayard, John Beatty, Richard h. Beatty, Joseph A. Bedford, William Bell, Henry Bellerjeau, Nicholas Belleville, Jacob Benjamin, Titus Bennett, George Bickham, Thomas Biddle, Wm. M. Biddle and Co., Rebecca Biles, Caleb Birchall, Charles Bird, John Bishop, James Black, Joseph Bloornfield, John Bohlen, Alexander Bonnell, William Booth, Mary Borden, Augustine Bousquet, Jamima Broadhurst, Joseph Broadhurst, Bronson and Chauncey, John Broonard, Wm. and A. M. Buckley. Joseph Baillock, Philip S. Bunting, Edward Burd, Edward S. Burd, Nathaniel Burrowes, Stephen Burrowes, Andrew Caldwell, James Caldwell, David Campbell, John Campbell, James Canby, Lewis D. Carpentier, Alexander Chambers, Susannah Chambers, Mordecai Churchman, Robert Clinton, Josiah L. Coates, John Conrad, John Cook, James C. Copper, John Cousland, Eunice Cowell, Charles Coxe, Daniel W. Coxe, Tench Coxe, Tench Coxe, Jr., Gershom Craft, James Craft, Margaret Crooks, John Curtis, George Curwen, Richard Dale, William Davidson, John Davis, George De Benneville, John G. De la Roche, Richard Dennis, Philemon Dickinson, George Dill, John Dowers, John Dowers, Jr., Silvester Doyle, Charles Duffield, John Duffield, Maria Duffield, Samuel Duffield, Henry Dusenberry, Thomas Eastbum, Hugh Ely, Joseph Ely, Evan Evans, Griffith Evans, Lewis Evans, Charles Ewing, James Ewing, James S. Ewing, Maskell Ewing, Maskell Ewing, Guardian of Churchill Houston, Maskell Ewing, Executor of William C. Houston, Maskell Ewing, Guardian O'f Eleanor A. Ewing, Maskell Ewing, Guardian of J. H. Ewing, Maskell Ewing, Guardian of Mary P. Ewing, Maskell Ewing, Treasurer of the Grand Lodge of New Jersey, Samuel Ewing, Manuel Eyre, Walter Franklin, Robert Frazier, !Moore Furman, Patrick Galbraith, Esther Gaw, James Glentworth, Peter Gordon, Hart Grandam, Revd. Thomas Grant, Simon Gratz, Charles D. Green, Joseph Green, Benjamin Guild, Thomas Hale, Harrison Hall, John Hamilton, Josiah Hart, Nathaniel W. Hart, John Harvey, Robert Harwood, James Heddy, Jacob Herbert, Joseph Higbee, Elicham Higgins, Joseph Higgins, Robert Hill, Robert E. Hobart, Jehu Hollingsworth, Joseph Holmes, Eliza Howell, Ellett Hoiwell, Ellett Howell, Guardian of Marcia Howell, George Howell, 8 Josqph E. Howell, Nancy Howell, Philip F. Howell, Samuel E. Howell, William E. Howell, Richard Humphreys, Abraham Hunt, Azariah Hunt, James Hunt, Pearson Hunt, Peter Hunt, Wilson Hunt, Sr., Wilson Hunt, A. S. Hunter, James Hunter, James H. Imlay, John Imlay, Lydia Imlay, David Jackson, John James, Isaiah Jeanes, Benjamin Johnson, Esther Johnson, Benjamin Jones, John C. Jones, Samuel Jones, Ellisha Kane, Howe Keith, Samuel Kenedy, Robert Kennedy, Michael Keppele, Philip Kinsey, James Kitchen, John B. L,arge, John Laval, Joseph M. Lawrie, Sarah Lea, John Leamy, Grace Little, Joshua Longfstreth, Thomas Lowrey, Thomas Loyd, Jr., James Lyle, Thomas Mackie, William Manning, G. C. Maxwell, Thomas McEwen, McEwen, Hale and Davidson, John Mcllhenney, Joseph Mcllvaine, John McKnight, John McPhail, Samuel Meeker, Samuel Meredith, Daniel Mershon, John Mershon, Samuel Mifflin, Joseph Milnor, Joseph K. Milnor, Wilham Mitchell, John A. Monges, William Montgomery, in trust for Mary Mont- gomery, Montgomery and New- bolds, Cornelius Moore, Robert Murdock, James Musgrave, John Nevius, ■Peter Nevius, Caleb Newbold, Clayton Newbold, ■ Thomas Newbold, Burlington, Thomas Newbold, Philadelphia, John B. Newman, Thomas Newman, Robert Oakley, Joseph O'gleby, Jr., Ann Olden, Thomas Pancoast, William Pancoast, Benjamin Parry, New Hope, James Paul, John Paul, Joseph M. Paul, Samuel Paxson, Timothy Paxson, Elizabeth Pearson, William Pearson, George Peddle, Edward Penington, Nancy Penington, Sarah Penington, Andrew Pettit, Abigail Phillips, Frances Phillips, John Phillips, Dr. Joseph Phillips, Martha Phillips, Ralph Phillips, David Pinkerton, Charles Pleasants, James Pleasants, Thomas M. Potter, Anne P'otts, John Potts, Rebecca Y. Potts, Mallet Prevost, Henry Provost, Chandler Price, Nathan Price, John Raifield, Robert Ralston, Edward Randolph, Jane Randolph, Samuel Redman, Thomas Redman, Reed and Porde, Abner Reeder, Amos Reeder, Andrew Reeder, Jonathan Rhea, John Rickey, Morris Robeson, Robeson and Pauls, Susannah Rodman, Ebenezer Rose, Stephen Rose, Fournier Rostain, George Rozell, John Rozell, lO Abigail Ryall, George C. Ryall, Susan Ryall, Thomas Ryall, Elizabeth Salter, Sarah Savery, Jacob Schenck, Robert Scot, Jacob Scudder, John Scudder, Thomas L. Servoss, Benjamin Sharpe, Nathaniel Sheeff, Edward Shippen, Thomas Shoemaker, William Shreve, John N. Simpson, Benjamin Smith, George Smith, 28 No.. Third Street, George R. Smith, Pennsylvania Bank, Isaac Smith, James Smith, Jr., Jasper Smith, John B. N. Smith, John R. Smith, Joseph Smith, Richard R. Smith, Waters Smith, Waters Smith, for Trus- tees of Presbyterian Church, Maidenhead, William L. Smith, William Stanford, Thomas Starkey, John Starr, Starr and Thomas, Frederick Steelwagon, John C. Stocker, Hudson Stockton, John Stockton, Abigail Stokes, Doyle Sweeny, Edward Sweeny, Eliza Sweeny, Hugh Sweeny, John Sweeny, Matthew Sweeny, John Taggart, Margaretta Tate, Anthony Taylor, Joseph Taylor, Michael Taylor, Robert Taylor, Daniel G. Temple, John Titus, John Titus, Guardian for Charles Titus, John Titus, Guardian for Noah Titus, John Titus, Guardian for Theodore Titus, Joseph Trotter, Ellett Tucker, Ellett Tucker, Guardian for George K. Tucker, II EUett Tucker, Guardian Gideon H. Wells, for Marcia Tucker, John Welsh, Ellett Tucker, Guardian Nancy Williams, for Mary Ann Tucker, Thomas Y. Willis, Daniel Van Buskirk, Edward Wilson, Aaron Vansyckel, J. I. Wilson, John Vansyckel, John Wilson, Joshua M. Wallace, Jr., Samuel Witherill, John Watson, Alexander Wright, Joseph Watson, Joshua Wright, Watson and Paul, Aaron D. Woodruff. The newspapers of January 14th also contained the announcement of the Commissioners, that a meeting of the subscribers to the stock of the Trenton Banking Company would be held in the City Tavern, in Trenton, on Tuesday, the 12th of February, for choosing eleven directors. The "True American" of February i8th reported that "On Monday last the books for subscriptions to the stock of the Trenton Bank were again opened, when the residue of six thousand shares were immediately sub- scribed. On Tuesday an election was held and eleven directors were elected." THE ORGANIZATION. The history of the organization and opening of the Bank for business is best told by the following minutes of the proceedings of the stockholders and of the directors of the Trenton Banking Company : Trenton, February 12th, 1805. At a meeting of the stockholders of the Trenton Banking Company this day, Isaac Smith, Joseph Bloom- 12 field, John Beatty, Joshua Wright, Thomas Newbold, Alexander Chambers, Peter Hunt, Abraham Htmt, Jonathan Rhea, Joseph M. Lawrie and James H. Imlay were chosen Directors for the ensuing' year. The stockholders proceeded tO' fix the compensation to be allowed tO' the President O'f the Bank. Whereupon it was resolved that the President be allowed the Sum of Seven Hundred dollars per annum, to be paid in quarterly payments. Trenton, February 13th, 1805. This day pursuant to notice the Directors of the Trenton Banking Company met. Present — ^Joseph Bloomfield, Isaac Smith, John Beatty, Abraham Hunt, Joshua Wright, Thomas New- bold, Alexander Chambers, Joseph M. Lawrie and James H. Imlay. By desire James Ewing, Esquire, attended, and ad- ministered to the Directors present the oath or affirma- tion required by law. Mr. Imlay at the request of the Board acted as Secretary. The Directors proceeded by ballot, to the choice of a President. On examining the ballots, Isaac Smith was found to have an unanimous vote. In the same manner the Board proceeded to fix the compensation to be allowed to the Cashier. Whereupon it appeared, on an examination of the votes, that a majority thereof was for the Sum of thirteen hundred dollars. The Directors in like manner proceeded to the ap- pointment of a cashier. On counting the votes, it appeared that Pearson Hunt was unanimously elected. Mr. Hunt having been duly notified of his appoint- 13 ment, appeared before the Board and signified his acceptance of the same. Messrs. Beatty, Abraham and Peter Hunt were ap- pointed a committee to enquire for a proper House to be used for the ensuing years as a Banking House, and were further authorised to purchase the site on which the Gaol and Court House in this plale now stand, for the use of the company, provided the same can be ob- tained on reasonable Terms, and to report thereon at the next meeting of the Board. Ordered, That Messers Beatty and Chambers be a committee to examine the Books and proceedings of the Commissioners, and to report on the same. Resolved, That a Committee be appointed to prepare and report such by-laws, standing rules and regulations for the management of the business and concerns of the Company as may be proper to be observed by the same, and that the President and Governor Bloomfield be that committee. Resolved, That the President, Governor Bloomiield & Mr. Beatty be a committee to enquire as to the kind & quality of the paper proper to be used as Banking paper; the style, devices and denominations of the Bills to be issued by the Bank, together with the checks necessary to be used in order to guard against counter- feits, and that they report on the same as early as possible. Adjourned to meet at 5 o'clock P. M. Five O'CLOCK P. M. The Board met. Present as before, except Mr. Newbold. The Cashier submitted to the Directors a bond with the Security required by law, for the faithful perform- 14 ance of the duties of his office. The same was read and approved of. Whereupon the oath of office pre- scribed by law was administered to him by the Governor. Mr. Beatty, from the Committee appointed to ex- amine the Books and proceedings of the Commissioners, Reported, that they have, according to order, examined the same, and, in behalf of the Commissioners, they further reported the following statement: "That agreeably to the trust reposed in them, The Commissioners have opened subscription books and have received subscriptions to the amount of five thou- sand nine hundred and fifty-eight shares, and that they have received the first and second installments in the same agreeably to law, amounting to fifty-nine thousand five hundred and eighty dollars, which remain in their hands, ready to be paid to the order of the Directors. By order of the Commissioners. (Signed) James Ewing. Febru'y 13th, 1805. To the Directors of the Trenton Banking Company. Accompanying this statement was the account of expences of the Commissioners, amounting to seventy- eight dollars and forty-eight cents. Whereupon, Ordered, that the Cashier do pay to the Commissioners the aforesaid amount of their expences. It was further ordered, that the Cashier do call on the Commissioners for the money received by them on the first and second installments mentioned by them in their statement to the Board, and that the Cashier do receipt to them for the same. And Also, that the Cashier do receive from the Commissioners the Sub- scription Books and papers relative to their proceedings 15 as Commissioners to the Trenton Banking Company, and that he receipt for the same accordingly. From the same committee, Mr. Beatty made a further report, that the Commissioners had instructed him to state that they declined receiving- any compensation for their services. Whereupon it was unanimo'usly Resolved, That the Board entertain a just sense of the services of the Com- missioners, and that the Thanks of the Board be pre- sented toi them for the same. Adjourned to meet on the 28th instant, at 10 o'clock A.M. The Bank was thus successfully organized and ready to enter upon the transaction of business as soon as a suitable building should be found and the necessary notes and papers procured. There were some, however, amongst the citizens of Trenton whom the new or- ganization did not please. It was thought that Phila- delphia capitalists held toO' much of the stock and ex- ercised toO' much influence in the New Jersey institution, as appears from the following letter published in the "True American," February i8th, 1805 : "For the True American: To those of the Philadelphia Stockholders in the Trenton Bank to whom the following questions are per- tinent, they are submitted. Was not the Trenton Banking Company incorporated for the benefit of the Citizens of this State? Was it not therefore proper that they should first have a chance of subscribing? Was it not ungenerous (and in fact did it not defeat the intentions of the Legislature in passing the law) i6 for you tO' come forward and engross nearly three- fourths of the whole stock, before our citizens had an opportunity of taking what they wanted ? Was it treating with proper deference the citizens of this state and place, to employ as your agent in this business a person almost universally obnoxious, and whose insolence prevented many respectable men from becoming concerned in an institution over which he assumed so much control ? In dictating a ticket for Directors, did you not exer- cise a power which ought to have been vested in the stockholders in this state, who might be supposed better acquainted with those best qualified for the trust? In your choice of directors, were you actuated only by a wish to promote the interest of the institution, or by sinister motives ? Does the ticket which you formed and elected, com- prise eleven of the most capable, unexceptionable and devoted to the institution, that could be found in this part of the state ? Have you not chosen some who were hostile to the bank from the first, and rejected others of equal or su- perior qualifications, who labored hard to obtain the law, and to put it in operation ? Was not the determination to have Dr. Smith chosen President, what governed in the formation of your ticket ? Is Dr. Smith the most active, intelligent and suitable man that could be fixed on for that office ? or was it his relationship to some of you that induced his appoint- ment? Ought such consideration to govern in cases of this kind? If Dr. Smith was needy, would it not have been more 17 honorable for you to put your hands in your own pockets and supported him, than to burthen an infant institution with such a dead weight? Do you intend by your partial and arbitrary conduct to drive the independent citizens of this part of the state to the necessity of applying for a charter for an- other bank? A Friend to the Bank, // properly conducted."* It is probable, however, that the new enterprise was welcomed by the people of Trenton as a great addition to their commercial facilities and an agency for in- creased prosperity. The "True American" of the next week, February 25th, contained an article upon "The Trenton Bank," which concluded with the favorable opinion : "On the whole, it appears probable that the Bank, if conducted liberally and impartially, will be of much utility." The further details of the organization and prepara- tions for business are recorded in the minutes, as follows : Trenton, February 28th, 1805. Pursuant to adjournment the Board met this day. Present — Isaac Smith, President; Governor Bloom- field, Abraham Hunt, Thomas Newbold, Joshua Wright, Alexander Chambers, Joseph M. Lawrie, John Beatty, and James H. Imlay. Peter Hunt, one of the Directors, appeared and took his seat, the oath of office prescribed by law being first administered to him by the Governor. * This communication illustrates the rancour of party feeling of the time. The newspaper was the organ of the Jeflfersonian Democracy, and Dr. Smith a Federalist leader. i8 From the Committee appointed to prepare such by- laws, rules and regulations as may be proper and neces- sary for the government of the concerns of the Company, Governor Bloomfield reported, that the Committee were not yet prepared to report on the subject referred to them, and prayed for further time, which was accord- ingly granted. On motion, Mr. Imlay was added to the Committee. Governor Bloomfield, from the Committee appointed to enquire as to the paper proper to be used as Banking paper, the style, devices and denominations of the Bills to be issued by the Bank, etc., submitted the following report : That the expences of engraving five plates of the following denominations would be at the subsequent rates. That is tO' say : First Plate — Of four Bank Bills, two of one dollar each. Device, plain shield, and two of three dollars each. Device, a plough, with, or without a shield. Second Plate — Pour of five dollars each; Device, a horse's head. Third Plate — Four of ten dollars each; Device, a horse's head supported. Fourth Plate — Two Bills of twenty Dollars each; Device, horse's head and plough. One Bill of fifty dollars ; Device, Horse's head with a shield and plough. One Bill of one hundred dollars; Device, cornucopia with, or without a shield. Fifth Plate — One Bill of five hundred dollars ; device. State arms complete. Three Post Notes — Device, cornucopia with or with- out a shield. ii TkiiIoh Ijaiikinu ('.()in]):iiiy //- ///'^ /y/^/-/ ' , — - ^- ■///'. //..,,, ",, /,,.„; ,.. ,/.,„„,„/ ONE ,l<.lbr._ -. (one) /..„/; - ■J /:,.,' ■■*! i»;.^ ) /;.,./ : FIVE (' .\' ) , nil. !'RK>Sini:XI' >V !^l!?F.r'rORS (II TiiK I, /(YItr, , /I ,/,,!/,//,,/ J'' J I Jtl ,/,il,i,.i £\ V':-'/'M 19 Which plates at one hundred and ten dollars each will cost, $550 00 A paper mould, with fifty-five letters Tren- ton water mark, will be, ,. . .,. ...... 28 67 Ten Thousand sheets of Paper, 350 00 A Rolling Press, . ,. . ., 70 00 Printing notes, at five dollars per thousand, for ten thousand sheets, . ... .,. .,. .,. ...... 600 00 A vault secured from fire, 782 90 An Iron Chest, 160 00 $2,541 57 Which report was read and agreed to. Ordered, that the first and fourth plates, be finished as speedily as possible, and that such immaterial variations from the devices in the plates as stated in the foregoing report may be made as the President and Cashier with the En- graver ma.y deem advisable. Mr. Beatty, from the Committee appointed to en- quire for and procure by purchase or otherwise a House proper for a Banking House in this place, made the fol- lowing report : That the Committee have made diligent enquiry on the matters referred to. them, and have had under their view several houses, a list of which and Terms respect- ively on which the proprietors would let or dispose of the samel accompany this report. The Committee beg leave further to report that in their opinion none of the houses offered would be suitable for transacting the business O'f the Bank without material alterations in their internal structure, thereby incurring considerable expense for the short period of one or twoi years. Under this impression, the Committee, on viewing the Court 20 House in this city offered for sale, were unanimously of opinion, that from its central situation, and other con- curring circumstances, it offered advantages which could not be so readily in a private building obtained, and that it would be adviseable to make the purcliase provided the same could be obtained for A reasonable sum. The Committee accordingly attended the sale, and have made the purchase of the said Court House and lot on behalf of the Bank for the sum of two thousand and fifty-five dollars. The one moiety payable on the first day of May next, and the residue on the first day of May, eighteen hundred and six, all which is respectfully sub- mitted. Whereupon, Resolved, That this Board do approve the purchase of the said Court House and lot, and direct that the whole purchase money be paid upon the execution of a Deed, provided a discount of the interest on the last payment, v/ill be made by the Commissioners appointed by law to sell same. Mr. Peter Hunt, one of the Commissioners for receiv- ing subscriptions to the Trenton Banking Company, in behalf of the said Commissioners, presented an addi- tional account for Printing done by their order as Com- missioners, amounting to twenty-five dollars and seventy cents. Ordered, that the Cashier do pay the same to Mr. Hunt. A representation being made to the Board that in paying over to the Cashier the monies received by the Commissioners appointed to receive subscriptions to the Capitol Stock in the Trenton Banking Company, a de- ficit of twenty dollars had appeared, which was paid forward by the Commissioners individually. Resolved, that the Cashier be directed to reimburse 21 the said Commissioners for the sum so paid forward by them. Resolved, That Messres Beatty, Abraham and Peter Hunt, Wright and Chambers be a committee to' direct and superintend the repairs necessary to be done to the House purchased for a Banking House, in order to put the same in such state oif repairs as may be necessary for the accomodation and operation of the business of the Bank. Ordered, that Mr. Peter Hunt and Imlay be a Committee to prepare and report the form proper for transfering the stock of the Company. Resolved, that the President and Governor Bloom- field be requested to employ an artist to sink a dye for the seal of the Bank, and that the device thereof be a Horse's Head, with this Inscription "The seal of The Trenton Banking Company, New Jersey." The Board adjourned to meet at 3 o'clock P. M. 3 o'clock P. M. the Board met. On motion the following resolution was unanimously adopted : Resolved, that the Directors and officers of the Trenton Banking Company consider themselves bound in honor, and they hereby severally pledge themselves to each other, not to disclose or discover upon any ac- count, or at any time whatsoever, the opinion or vote of any particular Director of this Board, or any transac- tions thereof of a Confidential nature. Mr. Peter Hunt from the Committee appointed to prepare, and report a proper form for transfering the Stock of the Company, reported the following as a form: 22 No Trenton Bank, March 18, D. B. or his assigns will be entitled to Shares in the Trenton Banking Company on paying the remaining installments the first having been paid. P. Hunt, Cashier. The Board proceeded to fix the compensation to be allowed the first Clerk to be employed in the Bank. Whereupon it was Resolved, that the Cashier be authorized to employ a first Clerk, on the best terms for the Company he can, for any sum not exceeding eight hundred and fifty Dollars per annum, payable quarterly. Resolved, that the second clerk be allowed the sum of three hundred and fifty dollars per annum payable in like manner. Resolved, that the first clerk be required to give bond, with sufficient sureties, to the President, Directors and Company in the sum of eight thousand Dollars, and that the second clerk be required to give the like security and in like manner in the sum of three thousand Dollars. Resolved, that a sum not exceeding one thousand Dollars be appropriated to defray the expence of repairs necessary to be done to the house purchased for a Banking House. And That the Cashier be authorised to advance to the Committee appointed to direct and superintend such repairs any sum or sums, not exceeding one thousand Dollars — And that the money so advanced shall be charged by the Cashier to the account of repairs done as aforesaid. The Cashier reported, that he had called on the Com- missioners according to order for the Subscription Books and papers, relative to their proceedings as Com- y: >X ( . |3rctomt ami IDuTrtors ./'//. - ///•///.> / , / / / / /^-m f ',,.,/! ':- /;',:, r i.'fiu Jfren? c^^l- ( I ' n , /.,/.., ,.,■ .////,■///// 'Hiomti) O, ///,., W'^mFrtBl y //. //// , /./..,/ /\ i ^ /.// ^:./ /„/ ' V./:,.//N"l O^ivutou )Ii,u\l;iui\ liomiJ.uni //-, ,n/.ir />■/,,/// /, — ^ /,/':, i , // r/,//u//y,, 1*"II''J"V /,//f//.i — 23 missioners for the Trenton Banking Company, and that he had duly received the same. The Cashier further reported that he had also accord- ing to order called on the Commissioners for the money received by them on the first & second installment men- tioned in their statement, amounting to fifty-nine thou- sand five hundred and eighty dollars and that he had accordingly received the same. The Board adjourned to meet on Thursday, 21st March next at 10 o'clock A. M. Trenton, March 21st, 1805. Pursuant to adjournment the Board met this day. Present — Isaac Smith, President — Governor Bloomfield, Abraham Hunt, Peter Hunt, Thomas Newbold, Joshua Wright, Alexander Chambers, John Beatty, Joseph M. Lawrie and James H. Imlay. Governor Bloomfield, in behalf of the Committee ap- pointed to prepare such by-laws rules and regulations, as may be proper & necessary for the government of the business of the Company, prayed further time to prepare their report, which was accordingly granted, and the same committee continued. It being represented to the Board that the plate of one and three dollars note is now prepared, and that a second plate will be ready by the fifth of April next, and that the Banking House cannot be fitted up in time so as to proceed to striking of the Bills on the said plates before that time — Resolved, in order to expedite the business of the Bank, That the President and cashier have seven hun- dred sheets of the first plate and three hundred sheets of the fourth plate stricken off in Philadelphia under 24 their direction, and upon the reception of such Bank Paper in Trenton, they may proceed to sign the same. Mr. Beatty from the Committee appointed to super- intend the repairs of the House intended for the Banking House, Reported that the committee were making pro- gress in the business committed to them, and expected that the house would be in readiness for transacting the business of the Company by the first day of May at farthest. The Cashier reported, That in pursuance of the au- thority vested in him by the resolution of the Board at their last meeting, authorising him to employ a first clerk for any sum not exceeding eight hundred and fifty Dollars, he had accordingly engaged a first clerk by the name of John Neal for the said sum, eight hun- dred and fifty dollars per annum. Whereupon, Resolved, That the said John Neal be employed as a first Clerk in this bank from the thir- teenth of March Instant at the rate of eight hundred and fifty dollars per annum. Thereupon the Cashier, in behalf of the said John Neal, submitted to the Board a bond with security, which bond was read and ap- proved of. The Board proceeded to consider the applications for the appointment of Second Clerk ; and to ballot for the same. Whereupon, on counting the ballots Josiah Fithian was found to have a majority of votes. Resolved, that all assignments of shares of Bank Stock made previous to the first day of April next being produced with the Commissioners certificate of the Stock, and deposited with the Cashier shall authorise the Cashier to transfer the same to the person so pro- ducing and filing such certificate and assignment. 25 Resolved, That the Committee appointed to superin- tend the Buildings and repairs of the Banking House, be authorised to enquire into the expediency and necessity of employing watch men to guard the Bank House, the duties of such Watch men, and the compensation proper to be allowed them for the same. And then the Board adjourned to meet again on Fri- day the 19th of April 10 o'clock. TrbJnton, April 19th, 1805. This day pursuant to adjournment The Board met. Present — Isaac Smith, President ; Governor Bloomfield, Joshua Wright, Alexander Chambers, Thomas New- bold, Joseph M. Lawrie, Peter Hunt, John Beatty and James H. Imlay. Jonathan Rhea, one of the Directors, appeared and took his seat. The oath of office prescribed by law, being first administered to him by the Governor. Governor Bloomfield from the Committee appointed to prepare and report such by-laws, rules & regulations, as may be necessary for the government of the concerns of the company made a report, which was read. Where- upon, Resolved, that the same be now read a Second time by sections, and after some time spent thereon. The Board adjourned to 3 o'clock P. M. 3 o'clock P. M.— The Board met. Present as before. The Board resumed the consideration of the report of the Committee of this morning, and having made sundry amendments thereto, the same were agreed to, and ordered to be engrossed and then the Board ad- journed to meet to-morrow morning, 1 1 o'clock. 26 Trenton, April 20th, 1805. The Board met. Present as yesterday, except Mr. Newbold. Governor Bloomfield submitted certain rules and regulations for the Government of the Board of Directors of the Trenton Banking Company in conduct- ing the business thereof as a diliberative body, which were read a first time, and ordered a second reading. Mr. Beatty from the Committee appointed to super- intend the building and repairs of the Banking House, and to enquire into the expediency and necessity of em- ploying watchmen to guard the same, and the com- pensation proper to be allowed therefor. Report, as their opinion, that it will be expedient to employ two persons to perform this duty, whose business it shall be to attend every evening at the House with arms, & to remain there during the whole night, a,cting alternately as Pa- troles, or in such other manner as may be prescribed by the officers of the bank. And the Committee are further of opinion, that the duties of Doorkeeper & messenger can readily be performed by these watchmen and that a sum not less than two hundred dollars ought to be allowed to each of them, as a compensation, to be paid monthly — all which is submitted. By order of the Committee, John Beatty. Resolved, that the Board do agree to this report. It appearing to the Board that the Banking House will be prepared for business by the 29th day of the present month, Resolved, that the President and Cashier do take measures for opening the Bank on Monday the 29th day of April Instant, and that the same do go into opera- tion on that day. /,S'.' ■ y,..A„ %. R)XE.HU?JPRED' t'^VSil .- !'" •;7^:'^ ■\ f ■; - y /.,,/ri., 27 Resolved, that the sum of forty-nine thousand and two hundred dollars be prepared for circulation as soon as the Bank shall be ready to go into operation, and that for this purpose two hundred half sheet's struck from the plates of 20, 50, and 100 Dollar notes, and fourteen hundred half sheets struck from the plate of ■one and three dollars notes, be signed by the President and countersigned by the Cashier. The Board adjourned to 3 o'clock P. M. The Board met. Present as before. The Ordinance, containing the engrossed rules and regulations, and by-laws for the government of the concerns of the company were read and compared. Whereupon Resolved, that the same do pass, and that the same be signed by the President, and attested by the Secretary. Resolved, that each of the watchmen be required to give security for the faithful discharge of the duties of his appointment in the sum of four hundred dollars. The Board then proceeded to ballot for two watch- men. On examining the ballots, William Roscoe and David Wrighter had a majority of votes. The rules and regulations for the Government of the Directors of the Trenton Banking Company as a de- liberative body, were taken up on a second reading, and agreed to. And then the Board adjourned to Tuesday, the 30th April Inst, to meet at the Bank, at 8 o'clock A. M. On the 30th of April the record is that "the cashier attended the Board with his books and the notes offered for discount. The books were examined and the notes ■disposed of. The Board adjourned." 28 In the newspapers of May 6th appeared a notice that "The Trenton Banking Company commenced it* operations on Monday last. The Bank is open from lo to 3, Sundays excepted." THE CHARTER. Until the act of 1812, establishing- State banks, the banking law of New Jersey was contained in the char- ters of the individual banks, which were substantially alike. The chief provisions of the Trenton Banking Company's charter were as follows : A meeting of the Board of Directors was required to be held every quarter, the Board being empowered to adjourn from time to time; at every quarterly meeting three directors were to be chosen to inspect the business of the Company for the ensuing three months, and the inspectors so chosen were toi examine twice in every month into the state of the Bank. Any fraud upon the Bank by a stockholder worked a forfeiture to the Bank of all such person's share or stock therein. To forge or counterfeit any of the notes or checks of the Bank was declared to' be a misdemeanor. Stock might be voted by the holder as follows : For one share and not exceeding two shares, . . one vote. For every two shares above two shares, and not exceeding eight shares, .............. .one vote. For every four shares above eight shares, and not exceeding twenty shares, .1. . . ... .one vote. For every six shares above twenty shares, and not exceeding fifty shares,. .1 .one vote. For every ten shares above fifty shares, one vote. 29 Only citizens of the United States and residents in New Jersey might be directors. Of the eleven directors of any year only nine might be re-elected for the year following. After the first year of the Bank's existence half- yearly dividends were required to be made, to the stock- holders, of so much of the profits of the Bank's business as might appear to the directors advisable. Once in every year the directors were required to lay before the stockholders for their information an exact and particular statement of the debts which shall have remained unpaid after the expiration of the original credit, out of the surplus of profits, if any, after de- ducting losses and dividends. The amount of the debt of the Bank, by bond, bill, note or other contract, might not exceed double the amount of capital in specie on hand, money deposited for safe-keeping not being reckoned as a debt. The Bank might hold • only such real property as should be requisite for its immediate accommodation for the convenient transaction of its business, and such as had been bona fide mortgaged for security, or taken in satisfaction of previous debts contracted, or purchased at sales on judgment had on such debts. The business of the Bank was limited to dealings in bills of exchange, promissory notes, gold or silver bul- lion and interest at seven per cent per annum for loans or discounts. The act was to remain in force for twenty years. By "An Act to extend the charter of the Trenton Banking Company," passed November 14th, 1821, the charter was extended and limited to December 3d, 1839. By "An Act to renew the charter of the Trenton Banking Company," passed February 20th, 1838, the 30 charter was extended for twenty years from and after December 3d, 1839. By "An Act tO' renew the charter of the Trenton Bank- ing Company," passed April 3d, 1855, the charter was renewed for twenty years from and after December 3d, 1859. By this act, All assets were made liable for the payment of bills, in case of insolvency. All directors must be residents of New Jersey and were made jointly and severally liable for the payment of all bills and notes. Stockholders were made liable, after the directors, to the par value of their stock. Each share of stock was allowed one vote. The majority of the stockholders must be residents of New Jersey. Assent tO' the provisions of the act must be filed by the officers of the Bank. The directors did assent to the provisions of this act, as required, and certified that fact on September 7th, 1855- By "An Act to extend the charter of the Trenton Banking* Company," passed February i6th, 1875, the charter was extended for twenty years from D'ecember 3d, 1879. New provisions were, The annual election should be on the first Monday of February in each year. Nine directors only should be elected. A majority of the Board should be a quorum for the transaction of business. In accordance with the provisions of the general bank- ing law of New Jersey, the directors and stockholders consented to an extension of the charter, at special meetings held in October, 1899, and the certificate of 31 extension until December 3d, 1919, was filed with the Department of Banking and Insurance on December 2d, 1899. THE BANK AND THE STATE. The right oi the State to subscribe to the capital stock of the Bank was essentially the same as in the case of other banks in New Jersey. The first grant by the State of New Jersey for a bank charter was "An Act to erect and establish a Banking and Insurance Company in the town of Newark," passed February i8th, 1804. In the same year, November 13th, a "Branch of the Newark Banking and Insurance Company at Powles Hook" was established, and on December 3d the Trenton Banking Company. In 1807 the New Brunswick Bank was char- tered. The subscriptions authorized for the capital stock of the Newark Banking and Insurance Company were $225,000, with allowance of subscription for $200,000 additional, the State, however, reserving right to subscribe for itself for $25,000 of the original stock. The authorized subscription for the capital stock of the Trenton Banking Company was $300,000, with privi- lege of further subscription for $300,000, and provision that the State might at any time subscribe and become a stockholder to a sum not exceeding $60,000, the amount of 1,200 shares of the original capital stock. The Bank of New Brunswick began with an authorized capital stock of $100,000, with leave to increase $100,000 more, the State reserving the right to subscribe $25,000 of the original capital stock. In 1812 an act was passed by the legislature for the establishment of State banks at Camden, Trenton, New Brunswick, Elizabeth, Newark and Morris, each to be 32 a distinct corporation, the State reserving the right to subscribe for one-half the capital stock. The first di- rectors were named in the act, but some subsequent directors were to be elected in joint meeting, and some by the stockholders. Yearly reports of assets and liabil- ities were required to be made to the State Treasurer. The notes of all the banks were to be of one device or impression, except that the notes of each bank of issue should be payable thereat. An act passed February 15th, 1815, prohibited un- incorporated banks. Pennsylvania imposed onerous conditions u[ion the grant of a bank charter, besides requiring payment into the State treasury of large amounts of money by way of bonus or consideration. The Philadelphia Bank passed tO' the credit of the State Treasurer the great sum of $135,000 to be drawn out as the exigencies of the State might require. The Farmers' and Mechanics' Bank of Philadelphia gave the State, in 1809, $75,000 of its capital stock. The Bank of North America paid, for a renewal of its charter in 181 4, a gratuity of $120,000. The Girard Bank, incorporated in 1832, was required to pay into the treasury of the Commonwealth, within one year from the date of the charter, $25,000, and within three years $25,000 more. New Jersey, however, exacted no more than the privilege of sub- scription to the stock at par, which right in some in- stances was sold. In 1807 an act was passed author- izing the Governor to transfer the State's right to sub- scribe for $50,000 of the stock of the Jersey Bank, the branch of the Newark Banking and Insurance Company at Powles Hook, for $4,000, to be paid into the State treasury. In 1809 the right of the State to subscribe for 500 shares ($25,000) of the stock of the Bank of 33 New Brunswick was ordered to be sold and the pro- ceeds paid into the State treasury, provided that no sale be made for less than an advance of $12 for each share. By an act passed November 3d, 1810, the State Treas- urer was authorized and directed to subscribe on be- half of the State for $20,000 of the amount reserved to the State of the capital stock of the Trenton Banking Company, and also to subscribe to the amount of such moneys as might thereafter be paid by the United States on account of principal and interest of the funded debt due the State; dividends received on subscribed stock to be applied to further subscription. On January 2d, 181 1, the State Treasurer paid for eight hundred shares of capital stock, and on February 19th, in the same year, the joint meeting elected Peter Gordon and Philip F. Howell directors of the Bank, on the part of the State, for one year. On January 30th, 181 2, the State Treasurer paid for two hundred shares more and the joint meeting, on February 3d following, elected Na- thaniel W. Hart and Henry Bellerjeau directors for one year. On January 27th, 181 3, the State Treasurer paid for the last two hundred of the twelve hundred shares vthich the State was privileged to take. On the follow- ing 3d of November, Peter Gordon, Ellett Tucker and Henry Bellerjeau were elected directors on the part of the State in joint meeting. Early in the development of its business, the Bank established a "Surplus Fund," as appears in the follow- ing minute : Tuesday, nth December, 1810. The Cashier attended the Board with his books and the notes offered for discount. The books were ex- amined and the notes disposed of. The Board ad- 34 joumed. Whereupon at the request of the members present a special meeting was now held, it being stated to the Board that under "The Act establishing the Tren- ton Banking Company passed the 3d day of December, 1804," during the operations of the Bank a surplus fund has been created the retaining of which will give solidity to the Institution and ultimately prove bene- ficial to the stockholders, as it will be the means ol secur- ing to them, in all probability, the rate of Dividends which the Board have been accustomed to declare, and without which, from the increase of banks and other causes, it is very doubtful whether the profits in future will yield the usual dividends, in which case great dis- satisfaction will be the consequence, in so much as an expectation would be formed that the future operations of the Bank must of consequence be equally profitable with the former. And if this fund is retained and the Institution continues fortunate, it will be held for the benefit of the stockholders. Upon consideration of the whole matter, it was, on motion seconded. Resolved, That after deducting nine hundred dollars to meet the Tax, if it should ultimately be found either from a resolve of the Board or by Process of law that it must be paid, that the residue of the Surplus Fund be made over on the 31st day of December, Instant, to the Cashier for the time being in trust for the sole use and benefit of the stockholders under the first subscription or their successors, and to be paid to them exclusively after the surrender or expiration of the Charter. Provided, Nevertheless, that the whole of the surplus fund shall be held liable for any losses that may be sus- tained on the bills which shall be discounted in the Bank up to the first day of January next. 35 Tuesday^ 28 Decern., 181 a. Resolution passed — "Whereas, in and by the Resolui- tion of the Board agreed to on the nth Inst., it was Resolved, That the residue of the Surplus Fund be made over to the Cashier for the time being, upon the terms therein set forth, & it appearing necessary & proper that the object thereof be extended. Whereupon, on motion made and seconded, it was Resolved, That the said Sur- plus Fund be also held liable to make up any deficiency that may hereafter arise in the rate of dividends which have been heretofore declared & made, or which may be hereafter declared, provided the same does not exceed the present rate." * * * * The limitation of the use of the surplus fund tO' the benefit of the stockholders under the first subscription, before the State had exercised its right to subscribe for stock, raised a point of difference between the Trustees of the Free School Fund, for whose benefit the State stock was held, and the Bank. After considerable cor- respondence concerning the matter, it appeared that the best arrangement of such difficulties as existed would be found in the purchase by the Bank of the State's stock. The transfer was made on February 5th, 1828, and the State thenceforth ceased to elect directors. In 1837 the twelve hundred shares were distributed amongst the stockholders, the value of the distribution being about $1.50 to each share held by themi. By an act of the Legislature of November 2d, 1810, an annual tax of one-half of one per cent, was levied upon the capital stock of all the banks in the State. The anticipation of such taxation led the directors of the Trenton Banking Company, in November of the pre- vious year, to memorialize the legislative council against the assembly bill proposing the tax, protesting against 36 it as "an encroachment on chartered rights and unequal in operation." Upon the passage of the bill the Jersey- Bank and the banks at Newark and New Brunswick agreed upon a resolution to resist, so far as possible, the enforcing of the act. This resolution being communi- cated to the Trenton Banking Company, the directors concurred in the general principles stated in the same, and resolved that the Trenton Banking Company "will unite with their sister banks in procuring counsel and taking all legal measures to avoid payment of the tax laid upon banks by the act passed November 2d, 1810." But when, ten years later, the two banks then estab- lished in New Brunswick asked the Trenton Bank to join in an application to the legislature for the repeal, or at least the suspension, of the tax, the directors de- clined to unite in the application. The tax continued to be paid, and, seemingly, the opposition to it died out. The co-operation of the Bank with the three other banks, in protesting against the tax of 1810, was sig- nificant of the relation which necessarily obtained be- tween these institutions in the progress of the State's financial history. Co-operation in matters which equally affected all of them was natural, and grew continually more desirable. As early as 1806 a committee was ap- pointed, to join a committee from the bank at Newark, to prepare and present to the legislature a bill to guard and protect banks against counterfeits. And in Jtily, 1808, the directors received notice from the Newark bank that its $3 notes were counterfeited. As the number of banks and volume of business in- creased it became needful to exercise some caution in dealing with the obligations of other institutions. In 1819 it was resolved "that the cashier be instructed to continue the receiving of the notes of the State Bank in this place until the balance shall amount to $6,000, 37 and to suspend the further receipt of such notes, on de- posit or otherwise, until such balance shall be liquidated and paid." In 1828 the notes of the Bank of New- Brunswick were refused for deposit or payment, while those of the Monmouth Bank were ordered to be sold at fifty cents and upwards in the dollar. Business transacted in Philadelphia is indicated by an allowance of $20 and a dividend amounting- to $40 per year as compensation to a clerk in the Philadelphia Bank for paying such dividends as were payable at that bank. Loans were made by the Trenton Bank, upon various occasions, to banks in other cities. In 1839 $20,000 was placed with the Bank of the United States in Philadel- phia at 6 per cent. Co-operation with other banks was believed to have reasonable limits, however, and in 1867, in reply tO' an invitation to contribute to the ex- penses of a suit in the Supreme Court of the United States, to test the constitutionality of an act imposing a prohibitory tax upon state bank circulation, it was resolved that "it is not expedient for this Bank to con- tribute tO' such a suit." NOTES AND COUNTERFEITING. The co-operation of the banks in the endeavor to prevent counterfeiting suggests that this crime was at- tempted at an early period. Besides the counterfeit of the Newark $3 note in 1808, a counterfeit of the notes of the Trenton Bank was discovered in Newark in the same year. A few years ago a counterfeit $10 note of this Bank, issued in 1810, was found in England and presented here for payment. In 1820 an act of the legislature provided that paper used for bank notes might only be made by permit of the Governor of the 38 State, and that the manufacturer thereof should declare, under oath or affirmation, that the whole quantity authorized to be made had been delivered to the presi- dent and directors of the banking company upon whose application the permit had been issued, under penalty of fine not exceeding two thousand dollars, or im- prisonment for three months in the county jail. Counter- feiting was, by the same act, made a high misdemeanor. In 1829 the matter appears again in the record that "David Johnston, Esq., was paid $5.00 for information respecting counterfeits."* In 1852 the Bank appropriated $25 to co-operate with the Philadelphia banks for the detection of counter- feits, and in i860 it became a member of the Central Association for the prevention of counterfeiting, and paid to E. Dallet $14, the amount assessed upon the Bank's capital. The notes of the Bank were not so difficult to counter- feit as those now issued by the United States and the National Banks. The paper was not made with the detective threads now used, and the devices were much less elaborate. The details of the notes with which the Bank began its business have been given in the minutes of the first meetings of the directors. In 1806, only two years after the opening of the Bank, the $3 plate being much worn and unfit for use, a new plate was ordered, "the device thereof to be a description of the Trenton Delaware Bridge." The note was thus embellished with an engraving of an object of much local interest and pride. This bridge was one of the great achievements of the engineering * David Johnston was the father of Alexander M. Johnston, of Trenton, and grandfather of Thomas K. Johnston, the present Deputy Banking Commissioner. / ...,/ ■:'',.., m » i* IS ■/', - '/;.,/,/,/,■/ .mil OJIU 4 Kjin il ilu ^^ //i J/ /.K/ ///,////, /r.i////,-///// //,. ,/:/.„ '/■■//,/,/ / .v^. ., ''/ ' "/ // , /.,/THKEE 39 skill of the new nation. The foundation stone of the first pier was laid May 21st, 1804, by General John Beatty, president of the Bridge Company, and afterward Presi- dent of the Bank, and on January 31st, 1806, the com- pletion of the bridge was formally celebrated with a procession, an address by the president and a dinner. The Duke of Saxe- Weimar, in his "Travels through North America," in 1825, speaks of it as "a remarkable bridge crossing the Delaware. It consists of five great suspended wooden arches, which rest upon two stone abutments and three stone piers. The difference between this bridge and others consists in this, that in the com- mon bridges the road runs over the tangent, but in this bridge the road forms the segment of the arch." The $3 bank note must have been popular, for as late as the time of the last issue of new notes, in 1859, five thousand $3 notes were printed, with five thousand twos and ten thousand ones. Such a demand for the $3 note seems somewhat odd at the present time, when no one has seen a bank note of that denomination for many years. R^IvATlON To PUBUC ENTERPRISES. One of the earliest transactions of the Bank, recorded in the minutes of May 31st, 1805, suggests forcibly the conditions of life and commerce of the time. "The Cashier attended with his books, and notes offered for discount. The latter being disposed of, the President laid before the Board a letter from Anthony W. Morris, Esq., President, and Wm. Turnbull, Levi Hollingsworth, Saml. Miflin and Benjn. R. Morgan, a Comee. of the Managers of the Susquehanna & Lehigh 40 Turnpike Road & Lehigh Navigation Companies; stating the great advantages that would result to the City of Trenton, in common with other Trading Towns on the banks of the Delaware, from the proposed com- munication with the waters of the Susquehanna; and praying the patronage and support of the Banking In- stitution of this place. Which being read, "Resolved, That this Board, having met only for the purpose of Discount, do not think themselves authorized, definitely to accede to such a proposition, but wishing at the same time to give all due incouragement to this interprise, they authorize and request the President of the Bank to subscribe for -five shares in the stock of the Turnpike Road Company and to pay the Instalments due or to grow due thereon, and the Board as indi- viduals pledge themselves to him, to take in their own name and pay for, such shares, provided the Board at their next quarterly meeting should not deem it ex- pedient to take and hold the subscription as the part of the Bank. Adjourned." The proposed turnpike would undoubtedly have been O'f valuable aid to the trade and travel of the towns along the route, and, indeed, of the whole eastern States. At that time "even the lightly equipped traveler found a short journey no slight effort. Between Boston and New York was a tolerable highway, along which, thrice a week, stage coaches carried passengers and the mail in three days. From New York a stage-coach started every week-day for Philadelphia, consuming the greater part of two days in the journey. Between Baltimore and the new city of Washington the road meandered through forests, and in wet seasons the driver rejoiced if he reached Washington without miring or upsetting j}m 3irst)x Ml/ '■' ■■'■f^:-.r -.'j*^.*^ J K . i W THKNTON 15ANK1N(; COMl'ANV /^-^.v///.-, /^.v-y /, ~ /^ A,., S°"' /. yi:*. 41 his wagon." There were but four towns of more than 20,000 inhabitants in the whole country, namely, Bos- ton, New York, Philadelphia and Baltimore. And so late as 1815, the news of peace, established by the treaty of Ghent, was carried by special messenger from New York to Boston in thirty-two hours, at an expense of two hundred and twenty-five dollars. Probably, how- ever, the Susquehanna and Lehigh turnpike did not prove as profitable as might have been expected, for it is recorded that on June ist, 1832, the Bank sold the five shares of stock held by it for $25. The Delaware and Raritan Canal was incorporated in 1830, and the Bank subscribed for fifty shares of the stock. In the next year the cashier was authorized "to subscribe the paper assenting to the union of the Dela- ware and Raritan Canal and Camden and Amboy Rail- road Companies, and also to subscribe for such addi- tional shares as may be allotted to the original subscrip- tion made by the Bank." A few days later a committee of directors was author- ized to sell the Delaware and Raritan stock owned by the Bank at 55 for 15 paid, but if the committee thought advisable, to take a less price. A proposition of April 20th, 1832, to loan $20,000 with Delaware and Raritan and Camden and Amboy stock at par as security, was agreed to by a divided vote of four to three. The development of local industries and the growth of trade and manufacturing are further indicated by such minutes as that of April 26th, 1831, in which "the cashier is authorized to subscribe for twenty shares of stock of the Trenton Delaware Palls Company, incor- porated to create water power in the city of Trenton and its vicinity." And in 1838 the Bank subscribed for $10,000 of the 42 loan proposed to be raised by the Trenton Delaware Falls Company, and for $50,000 of the loan of $800,000 proposed to be raised by the Delaware and Raritan Canal and Camden and Amboy Railroad and Transpor- tation Companies, if at a premium not exceeding 9 per cent, for a 6 per cent. bond. In 1834 the canal bonds were sold for $57,000, and in 1844 the Bank bought the real estate and franchises of the Trenton Delaware Falls Company, at the receiver's sale, for $50,000 and subsequently disposed of the same to the Trenton Water Power Company. In 1852 the Bank subscribed for one hundred shares of stock in a company about to be or- ganized in the city of Trenton "to furnish a supply of water for the protection of property against fire, and also for domestic uses." In 1856 also the Bank bought "a bond of $500 of the Water Works Company, to assist the Company in the sale of bonds on hand." In the aid lent to business enterprise in the town and the state, the Bank quite fulfilled the modest prophecy of the writer in the True American, that the institution "would be of much utility." THE BANK AND PINANCIAI^ HISTORY. The financial history of both the state and the nation is, to a considerable degree, reflected in the history of the Trenton Banking Company. The difificulties be- tween England and the United States, which culminated in the war of 181 2, affected adversely the commerce and financial interests of this country. Dissensions between the rival political parties, and doubts as to what might be the final character of the national government dis- turbed confidence and checked the development of the new nation's business. But the Bank did not hesitate 43 to lend all the assistance in its power to the financial undertakings of the time. In April, 1812, the Bank subscribed to the loan of the United States, upon the terms advertised by the Secretary of the Treasury, the sum of $20,000 and in the following year made a further subscription of $30,000 to "the new loan of the govern- ment of the United States lately submitted to the publick by the Secretary of the Treasury." Prompt compliance with the wishes of the national treasury, in the matter of a stamp tax, appears in the minute of October nth, 1813, when, in reply to a letter of WilHam Jones, Acting Secretary of the Treasury of the United States, it was resolved "that this Board do accept of the com- position proposed to wit, to pay into the treasury, in lieu of stamped duty on their notes, an annual composition of .015 per centum on the amount of the annual divi- dend made by this Bank to their stockholders." The State bore its share of the troubles of 181 2 and the following years, and in December, 18 13, the Bank made its first loan to the State Treasury, of $32,000 for military purposes. In 1814 the financial stringency had become so severe that on the 31st of July the cashier stated that he had received information that the banks in the city of Phila- delphia had suspended the payment of specie for the present. It was therefore resolved "that it becomes in- dispensably the duty of this Board to make use of the same means to prevent the whole of the specie being drawn from the vaults of this Bank. The cashier is hereby ordered to suspend the payment of specie until the further order of this Board." In June, 1815, a letter from A. J. Dallas, Secretary of the Treasury, inquiring "whether the Bank will agree (during the suspension of specie payments) to receive 44 treasury notes of the United States in all payments to the Bank at par, and re-issue the same in payment of all demands on the Bank to such persons as shall choose to receive them," was answered in the affirmative. And upon the reorganization of the Bank of the United States in 1816, the Bank subscribed to its stock to the amount of $40,000. This stock was subsequently sold in 1829 and 1832 at an advance of about 12 per cent. The resolution to suspend specie payments was re- pealed February 12th, 181 7. In 1 81 5 a further loan of $10,000 was made to the State, "upon condition that the rate of discount be 7 per cent per annum, and that the loan be appropriated for State purposes, and the moneys drawn out of the bank as contingencies shall render necessary." In 1833 it was resolved "to loan the State of New Jersey any sum not exceeding $30,000 at 5 per cent, to facilitate its operations in building the new peni- tentiary." The Bank shared with all other financial institutions the difficulties of the hard times of 1837. On May i6th of that year upon the receipt of authentic information that all the banks of the cities of New York and Phila- delphia had suspended specie payments, it was resolved "That under existing circumstances it becomes ex- pedient that this Bank should suspend the payment of specie except in such sums as in the discretion of the cashier will be advisable." No record of the time when the resumption of specie payments was attempted is to be found in the directors' minutes, but on February 2d, 1841, there is a resolution "That in the opinion of this Board it is the duty of this Bank to persevere in its efforts to maintain specie payments." 45 On February nth, 1842, a resolution for the resump- tion of specie payments was considered, but action was deferred. And the prevailing uncertainty and lack of confidence were reflected in the determination that "No notes of any Pennsylvania bank shall be received, and, for the present, no collections made for any bank in the said State." The act of March 5th, 1842, required the resumption of specie payments on August 15th of that year. It is worthy of note that during these years of diffi- culty the Bank held at one time more than $69,000 of protested paper, every dollar of which was afterward paid. After nearly twenty years of peaceful and prosperous national life, a sign of the multiplying anxieties of the time, and the serious questions concerning the future stability of the government, appears in the resolution of November 23d, i860, that specie payments be sus- pended for the present. Two months later it was re- solved that the Bank should resume the payment at its own counter of all its obligations, and that the Me- chanics' and Manufacturers' Bank of this city be notified of this action. and their concurrence requested. But in common with all other banks, this Bank could not and did not finally resume specie payment until the general resumption of 1879. In September, 1878, a protest was entered by one of the directors against the investment of $50,000 in notes of the Baltimore and Ohio Company, "On account ot the critical condition of the banks of the country, occa- sioned by the preparations for resumption, and the ne- cessity of keeping the funds of the Bank within its con- trol and consequently strong by its own means to meet the event." 46 It is recorded on December 20th, 1878, that "The cashier is directed, in view of the resumption of specie payments on January ist, 1879, to accumulate and keep on hand not less than $25,000 in legal tender money." In common with the other financial institutions of the country, the Bank did resume specie payments on Janu- ary ist, 1879. THE BANK IN WAR TIMES. Duringf the continuance of the Civil war, the Bank drew liberally upon its resources for the aid of the na- tional government and for meeting the urgent neces- sities of the State. Immediately after the bombardment of Fort Sumter, it was resolved "That this Company tender to the Governor, for the use of the State, a loan of $25,000 for enrolling and equipping troops for the national defense, and to meet any extraordinary ex- penses which the present emergency in public affairs may require, and that the President transmit a copy of this resolution to the Governor." A few days later the Bank subscribed for $35,000 of the State loan at par, and early in 1862 subscribed to the first loan required by the national government, to the amount of $50,000. The minutes of those years record many loans made for aid in the military undertakings of the time. In 1862 $200,000 was loaned to the State, and in 1863 $50,000 was taken in Mercer county, bonds, issued to provide for the payment of bounties. In July, 1864, $25,000 more was loaned to the county, and in June $40,000 to the city of Trenton to pay bounties. As more money was needed by the State, Governor Charles S. Olden, then a director of the Bank, was authorized by the Board to use all the money of the Bank that ^4^' 47 might be necessary for forwarding the troops of the State. This the Governor did, until the State owed the Bank more than $600,000, which was afterward paid by the general government to Governor Olden, and by him to> the Bank. The Bank has also assisted in the military affairs of the State since the close of the war, as appears in a minute of August 3d, 1877, in which "The cashier is authorized to allow the Quartermaster General of the State tO' draw such amounts as may be needed for the expenses of the militia, upon filing in the Bank the official obligation of the Governor to reimburse the same." NOT A NATI0NAI< BANK. With the establishment of the national banking sys- tem came the question whether the Trenton Banking Company should organize under the national banking law. The national currency bill became a law on Feb- bruary 25th, 1863. On April nth, 1865, a resolution was offered in the Board of Directors for a committee tO' report the necessary steps to be taken in becoming a national bank, but consideration of the resolution was postponed. And on May i6th the resolution was lost by a vote of 3 tO' 5, and the cashier was directed to put in circulation at once $150,000 of the Bank's own notes. In February, 1878, a resolution adopted at a meeting of the stockholders^ asking for the re-organization of the Bank as a national bank, was submitted tO' the directors and referred to a committee. The committee seems not to have reported until January 31st, 1879, when it re- ported against the national bank scheme, alleging rea- sons against it as follows : I. The very small margin of profit after paying taxes 48 and expenses on circulation secured by bonds paying. 4 per cent, interest. 2. The present limited demand .for money and the difficulty of employing to advantage the large amount of funds which the Bank now has at its control. 3. The necessity, under the national system, of keep- ing a large reserve fund as well on deposits as on cir- culation, and which, with our present average deposits, would at once withdraw from employment from $125,000 to $150,000. 4. The uncertainty of congressional legislation in re- lation to the national banks, the danger of hostile legis- lation and the possibility of the entire repeal of the national banking act. 5. The value of our present Bank charter, now having more than twenty years to run, and the impossibility of obtaining another charter in case of its surrender. 6. The personal liability of stockholders under the national banking law. These reasons appeared to the directors to be suffi- cient, and the resolution of the stockholders, proposing that the Bank should be reorganized as a national bank, was not agreed to. The Bank has, therefore, continued its business as a bank of discoimt and deposit only. THE BANK AND ITS CORRESPONDENTS. Mr. Whittaker makes mention of the pleasant rela- tions which have always existed between the Bank and its correspondents in other places, as follows : "When the bank commenced business an account was opened with the Manhattan Company, in New York, and the Philadelphia Bank, in Philadelphia. These accounts have never been for a day discontinued during the 49 seventy-five years which ha,ve elapsed, nor have the pleasant and satisfactory relations which have existed with those institutions been for an hour interrupted. There is not to-day an error of one dollar in the accounts with them, although a very \a.rge amount of business is transacted with both. The directors have always appre- ciated! the friendly disposition of those two sttrong institutions. "Perhaps, no apology is necessary for the insertion of the following appropriate letter written by Mr. Dickin- son to James M. Morrison, the venerable President of the Manhattan Company, on the occasion of the re- tirement of the latter, on October ist, 1879, from the responsible office which he had held for a great number of years : " ' Trenton, Oct. 9, 1879. " ' James M. Morrison, Esq., " 'My Dear Sir : I cannot permit the notable event of your resignation as President of the Manhattan Com- pany, as informed by the papers and our official corre- spondence, to pass without expressing my feelings on the occasion. " 'Our bank was chartered on the third day of Decem- ber, 1804. So soon as organized for business, about August, 1805, the Trenton Banking Company opened an account with the bank of the Manhattan Company, and continued the same ever since, increasing from a few thousand to many millions of dollars annually. " 'From personal knowledge of fifty years, and early tradition, nothing has occurred to interrupt, unpleas- antly, our official intercourse, and we have uniformly received kindly aid and confidence when we most needed it. " 'For yourself, our personal relations have been of 4 50 the most kindly character, and I have no doubt the same will be continued by your worthy successor. " 'Hoping that the evening of your days may be as serene and pleasant as those of the past, " 'I remain, my dear sir, " 'Sincerely and truly, " 'Your obedient servant, '"Phil. Dickinson.'" the banking house. At the first meeting of the Board of Directors of the Trenton Banking Company, February 13th, 1805, "Messrs. Beatty, Abraham and Peter Hunt were ap- pointed a Committee to enquire for a proper House, to be used for the ensuing years as a Banking House, and were further authorised to purchase the site on which the Gaol and Court House in this place now stand, for the use of this Company, provided the same can be obtained on reasonable terms, and to report thereon at the next meeting." On February 28th the Committee reported that they had examined all the properties oifered for the use of the Company, and that they had deemed it advisable to purchase the Court House, which they had done for the sum of two thousand and fifty-five dollars. The deed, recorded in the County Clerk's office May 7th, 1805, transfers from the Board of Chosen Freeholders of the county of Hunterdon to the Trenton Banking Company, "All that certain house and lot of land situate in the said city of Trenton and heretofore commonly known by the name of 'The Old Court-house and Gaol' and bounded as follows, to wit: on the west by Warren street of the said city, on the south by land of Abraham 51 Hunt, on the east by land of Sylvester Doyle, and on the north by other land of the said Abraham Hunt." In his historical sketch, "Trenton One Hundred Years Ago," the late General William S. Stryker says of this building: "The two-story building, built of sandstone, now a part of the Trenton Bank, was the court-house and gaol, erected about 1730, and Peter Hulick was the gaoler. A shot struck this building on the evening of January 2d, 1777. In 1784 the Continental Congress met in this building." General Stryker thus states the traditional belief con- cerning the meeting of Congress in this building, though there were always those who disputed it. Recent in- vestigations by Dr. C. B. Godfrey, of the Adjutant- General's office, have quite established the fact that the Congress met in the tavern at the corner of King and Second streets, where the Mechanics' Bank now stands, and in which the Trenton Banking Company was organ- ized. It is probable that the Provincial Congress and the Council of Safety of New Jersey met in the old Court House. John O. Raum, in his "History of the City of Tren- ton," describes the building as follows : "It was a two story building erected of sandstone, with stuccoed front. The cells were in the lower story. The upper story was used as a court-room, the entrance to which was by a number of stone steps erected on the outside of the building and surmounted by an iron railing. The steps extended over the pavement, commencing from the gut- ter, and persons going into the court house were com- pelled to ascend fromi the street. Persons going up and down the street passed directly under these steps." The building was fitted for the use of the Bank at a <:ost of some $1,161.65. Shortly afterward the com- 52 mittee appointed to superintend the repairs necessary to be done to the banking-house were further author- ized to have the walls of the house raised and a slate roof put on the same, which was done at a cost of $1,264.15. Additions and improvements to the building, its fur- nishings and surroundings, were made from time to time during the thirty years and more that the old court- house served as the banking-house. By a resolution of the Board of Directors, adopted April 8th, 1806, the cashier was requested to buy an eight-day clock, which, he did, and the same clock still keeps time in the Presi- dent's room at the Bank. At the same meeting Ben- jamin Smith and Peter Gordon were appointed "to cause the aqueduct water to be conveyed to the bank- ing-house, and that upon its being done the cashier pay the expenses thereof." The aqueduct water was sup- plied by a wooden trunk laid down Warren street and some of the other streets, conducting water from a large spring near the present site of the old reservoir of the Trenton Water Works, formerly owned by Stephen Scales, who had been the first purveyor of water for the growing town. The Scales property was bought in 1800 by a company under the name of "The President and Directors of the Trenton Water Works." The company constructed a fountain to supply the trunks and furnished water to a considerable portion of the town until the taking over of the system by the city in 1859. On June 14th, .1808, the President was authorized to have the discount room papered. In June 181 1, the cashier was empowered to cause the street in front of the banking-house to be regulated so as to conform to an ordinance of the city corporation ; also to have such alterations made to the banking-house as might appear 53 to him necessary and proper. The next year the cashier was directed to agree with Captain Benjamin Yard for the removal of a wooden building adjoining the bank- ing-house, and to pay him for the same the sum of $80. In February, 1828, a committee of the Board was raised to fit up a room on the first floor of the building for the directors to meet in. In May, 1829, the cashier was instructed to have the front of the banking-house cleaned and painted, also to employ workmen to new roof the portico, to tin and paint the same. On Novem- ber 26th, 1830, Samuel Evans applied for permission to use the south wall of the Bank to build against. On February 23d, 1838, upon motion of Mr. Stryker, it was unanimously resolved, "That it is expedient for this Bank tO' build a new banking-house upon the pres- ent site ; and that the President be authorised to procure of a competent architect in Philadelphia a plan and ele- vation of the contemplated building." Benjamin Fish and Thomas J. Stryker were ap- pointed to superintend the erection of the structure and on January i8th, 1839, reported the completion of the building at a cost of $11,721.43. Mr. Whittaker, in his "Historical Sketch," states that the new building was erected after plans made by Thomas U. Walter, then the most celebrated architect in Philadelphia, and builder of Girard College. In this connection the following extracts from the diary of Nicholas Biddle, the first president of the board of trustees of Girard College are interesting: "Our first business was to erect the college ; a matter of much deli- cacy and difficulty. The councils had offered a premium for the best plan and the premium was awarded to a young architect by the name of Thomas U. Walter. They next elected the architect and Mr. Walter was again the successful candidate. There was then an 54 architect appointed and his plan approved, and the danger was that this plan might be adopted. I say the dcmger. Mr. Walter was the son of a bricklayer and had begun life by working with his father. At a later period he studied architecture with Mr. Strickland, and succeeded to the post of architect against his old master, by a majority of (I believe) one vote. His plan was for a large, showy building, wanting simplicity and purity, but not ill-adapted to please others as it had already pleased the councils." The matter went to a committee of sixteen men, four from each council with as many from the trustees. Of the committee trustees, Mr. Biddle was the chairman, as he was of the joint meeting of the eight trustees with the eight councilmen, and again chairman of a sub-com- mittee of this joint meeting. "The question was now brought within a narrow circle. The first difficulty was to wean Mr. Walter from his plan, to which the natural self-love of a young artist, of course, attached him, and I endeavoured, while doing justice to the merits of his plan, to excite his ambition to achieve something beyond his plan. or the plan of anyone else, in short, to take ad- vantage of this rare opportunity of immortalizing him- self by a perfect, chaste specimen of Grecian architecture. He behaved perfectly well about it, no one could have done better. He renounced his own plan and came at once into my views, and prepared all the necessary drawings and seconded me with great cordiality." The adoption of Mr. Walter's plan for the banking- house secured for the Bank the fine building which has since been one of the chief ornaments of the city, dis- tinguished by the beauty and simplicity of its architec- ture and admirably adapted for the business for which it is designed. 55 During the progress of the building the Bank occu- pied the house No. 75 Warren street for the carrying on of its business. In 1872 the building was still further improved by- lowering the floor and enlarging the building by the erection of a transept, twenty-five feet in depth, in the rear, to afford space for rooms for the directors and the cashier, and for a new vault, which was constructed of iron and steel two inches in thickness. Henry Cook's store, 52 Warren street, nearly opposite the Bank, was rented for a banking room, while these improvements were in progress. Other items of interest concerning the building occur in the minutes of the directors, such as the permission given to sundry persons to open windows overlooking the bank grounds, such permission to be revoked at pleasure. The plot of ground in the rear of the building, within the walls of the old jail enclosure, still standing, was properly cared for, and has always been a pleasant bit of greenery in the midst of the crowded buildings of the vicinity. In 1872 the "grapery" which had stood in the yard, where the new portion of the building must be placed, and which had been the recipient of sundry items of expense, was sold for $61.11. As late as 1883 the minutes record an appropriation for the maintaining of ornamental flower beds in the enclosure. INCIDENTAI,S. Various items in the minutes of the Board of Direc- tors afford interesting suggestions of customs and con- ditions of life and business, during the century of the Bank's existence, and occasional glimpses of some of 56 the more striking personalities in the Board and amongst the citizens of the time. After the settling of the amount of the salaries of the officers of the Bank, and the assigning to Mr. Pearson Hunt, the first cashier, the sum of $1,300 per year, the Board allowed him $200 per year additional, for house rent. Mr. Hunt seems to have been a man of quite unusual business ability, and to have proved himself most valuable to the interests of the new enterprise. The estimation in which his abilities and services were held is shown in the fact that his salary was increased by advances each year, from thirteen hundred dollars at the beginning to two thousand dollars in 1808. In 1855, $1,000 was loaned to Asher Swem, the faithful messenger of the Bank, to buy a house. A minute which throws some light upon the state of the civic treasury is recorded on January 14th, 1814, when it was resolved "That this Bank are disposed to aid the city of Trenton in defraying the expenses of hiring watchmen, and that the cashier pay to the com- mittee of the common council the sum of Contributions were also occasionally made to chari- table objects: $50 for "the sufferers by the tornado at New Brunswick," on June 26th, 1835; $25 to "the Treasurer of the Female Benevolent Society for the relief of the poor," in 1836; $50 to the "Trenton Soup House," in 1855, and a somewhat remarkable gift of $100 in 1864, to "The Philadelphia Refreshment Sa- loon," a place of rest and refreshment for Union soldiers, on their way to or from the front, maintained by the loyalty and liberality of Philadelphians and other patri- otic citizens. There was evidently a difference of opinion amongst the directors concerning this last con- tribution, for the vote was 5 yea, 3 nay. 57 In 1906, the directors made the first subscription given in Trenton for the relief of the sufferers by earthquake and fire in San Francisco, to the amount of $1,000. This contribution, made by the directors upon their own responsibility, and immediately upon the receipt of the news of the disaster, received the general and cordial approval of the stockholders. The observance of holidays begins with the day of thanksgiving and praise appointed by the Governor of New Jersey for January ist, 1813, when it was re- .^olved that the Bank should remain closed on that day. In 1828 and 1829 the day of Thanksgiving was set apart in December, the nth and loth days of that month, and the closing of the Bank is noted. The first mention of the Christmas holiday is in 1829. On Sep- tember 24th, 1824, it is recorded that General Lafayette is expected to be in Trenton on the next day, and will be publicly received by the citizens, and that the Bank Tvill be closed on that day. Washington's birthday was first commemorated by the closing of the Bank in 1832, upon the occasion of the centennial anniversary of that day. On April i8th, 1865, the following minute was recorded, upon announcement of the death of President Abraham Lincoln: "Resolved, That in pursuance of the recommendations of the public authorities, as a mark of respect to the memory of the late President of the United States, the Bank be closed to-morrow, and that the Bank be draped in mourning for the space of thirty days." In 1876 it was ordered that the Bank should be closed on Decoration Day. In 1891 the modern Saturday half-holiday was accepted, in a resolution of March 20th, "That in accordance with the new law, this Bank will, after to-morrow, close on Saturdays at 12 M." 58 The custom of giving an annual dinner was begun in 1829, when on February loth it was resolved, "That, a dinner be provided for the directors, on Thursday, the 1 2th inst., at Mr. Bispham's." Mr. Bispham was at that time the proprietor of the Trenton House. He had himself been a director, but left the city about this time,, and the resolution of February, 1830, was "That Mr. Wilds provide a dinner for the directors." The last dinner given by the directors was in 1874, and was pro- vided by the late Peter Katzenbach. An interesting illustration of an inaccuracy of record attending the election of State directors, during the period when the State held its twelve hundred shares of capital stock, appears in the minutes of the Bank and the joint meeting of the legislature, in 1812 and 1813. On January 30th, 181 2, the State Treasurer paid for two hundred shares of the stock, and the joint meeting, on the 3d of February following, elected Nathaniel W. Hart and Henry Bellerjeau directors, for one year. The minutes of the proceedings of the directors of the Bank have no mention of Mr. Hart. At a meeting of the directors held February 9th, 1813, Thomas C. Sterl- ing produced a certificate from the Secretary of State that on the 5th day of November, 1812, he was, by the legislature of this State, in joint meeting assem- bled, appointed one of the directors of the Bank, that he had taken, before James Linn, Esq., one of the masters in chancery, the oath required by law, and took his seat accordingly. Record of Mr. Sterling's election is not found, however, in the minutes of any joint meet- ing held in 181 2. The sturdy character of some of the older directors. is revealed in an entry in the minute book for February 14th, 1 87 1, made by President Dickinson, as follows: 59 "A great snow storm prevailing to-day, the younger members of the Board, out of regard to their health, were unable to attend. "Present, P. D., Benj. Fish, S. Si. Stryker. "P. D." President Dickinson was at that time sixty-seven years of age, Mr. Stryker was seventy-four, and Mr. Fish was eighty-six. Mr. Whittaker gives an account of the only attempt to rob the bank, made by a party of burglars on the evening of Sunday, January 21st, 1872. One of the watchmen, Mr. Bailey, was seized and gagged after he had entered the bank, the other, Mr. Asher Swem, being also at- tacked as he entered the front door of the bank. The latter defended himself with so much vigor, and re- sisted their attempt to bind him with so much noise, as to attract the attention of Mrs. John V. Hutchinson, a lady who was passing by, who instantly gave the alarm in the neighborhood. The police arrived too late to secure the burglars, who abandoned their attempt and fled from the rear of the building. The boxes of some of the depositors were broken open, and several thousand dollars in bonds and other securities were carried away, some of which were never recovered. A short time after the occurrence a letter, bearing the Brooklyn postmark, reached the bank, containing $6,800 of bonds and coupons of the State of New Jersey, payment of which had been stopped, and which the burglars thought best to return. A loan was once made to Prince Lucien Murat, nephew of Napoleon Bonaparte, upon quite unusual security. Having lived in exile for some years at Bor- dentown, upon the dethronement of Louis Phillippe he resolved to return to France, but was unable to find money enough to pay his passage. He applied to the 6o President of the Bank for a loan of $8,000 and offered as security a diamond bracelet, which had been entrusted to him by Hortense, Queen of Holland. The President accepted the security and made the loan, which was afterward paid with due interest, the bracelet being de- livered to the gentleman sent to this country as the Prince's messenger. The names of many distinguished citizens appear in the book used for recording the signatures of deposi- tors. Mr. Whittaker gives a long list of them, from amongst whom may be mentioned Israel Carle and Lambert Cadwalader, the latter of whom was a colonel in the Continental army, was captured by the British at the taking of Fort Washington, and was afterward exchanged for the celebrated British General Prescott. He was a son of Dr. Thomas Cadwalader, who was a distinguished physician and Chief Burgess under the colonial charter of Trenton granted in 1745. The Navy of the United States is represented by the autographs of Commodore Richard Dale and of Lieu- tenant C. M. Hunter, who fought bravely in the fierce attack on the town of Alvarado, in Mexico, and was ever afterward called Alvarado Hunter. He was a son of Andrew S. Hunter, Attorney-General of New Jersey, and grandson of Dr. Nicholas Belleville. Other names of local interest are those of Charles Kinsey, Joseph Mcllvaine, Nathaniel Saxton and Lucius Horatio Stockton, distinguished lawyers of New Jersey; Henry Waddell, son of Dr. Waddell, who was pastor of St. Michael's Episcopal Church during the Revolu- tion; George and John Rozell, who were extensive builders of fine carriages, their manufactory being lo- cated near the present Washington Market; Peter Grim, Jr., who owned the land now occupied by the basins of 6i the Trenton Water Works, and who built the Tremont House on State street; PhiHp Gamble, a colored man, who owned the square at the corner of Greene and Academy streets, running through to Montgomery street, a part of which is now occupied by the wholesale store of D. P. Forst and Co. ; Louis Hargous, who owned the land east of the canal, known as the Har- gous farm, now quite covered with buildings; James Lyle, a millionaire of Philadelphia, and Archibald McCall, an extensive merchant of the same ci,ty ; Henry McCall, Jr., who at one time owned the Assanpink property and Water Power; Ebenezer P. Rose, a well-known merchant of Trenton; James H. Sims, one of the oldest agents of the Camden and Amboy Railroad Co.; Jasper Harding, owner of the Phila- delphia Inquirer; Joseph Tyrrell, an Englishman, who owned considerable real estate in Trenton; Joseph Na- poleon Bbnaparte, ex-King of Spain, who, soon after he reached America, and took up his residence at Borden- town, opened an account with the bank. Another noticeable autograph, written in a compact hand, is that of General Jean Victor Moreau, one of the great generals of the First French Republic, who was exiled in 1804, having been implicated in the conspiracy of Pichegru and Georges. He came to America, and settling at Morrisville, planted the one time Morrisville grove and erected buildings at that place. The fine house built by him was burned down some years afterward. The large carriage-house and stables are still standing, and are now used as a factory. Near the name of Joseph Bonaparte is that of his Secretary, L. Maillard, who also kept an account in the bank. He returned to Europe with Bonaparte. During the century of its existence, the Trenton Banking Company has sedulously endeavored, by an 62 equitable spirit and conservative methods, to maintain a character and reputation for stability, liberality and honorable dealing. Its relations with its depositors and customers have ever been democratic and impartial. It has been an institution where persons of small means have always been welcomed and freely accommodated. The spirit exhibited in its management has been such that those concerned in the most modest transactions could solicit its co-operation and assistance, without hesi- tation or embarrassment. It has thus been of great value in the community, a promoter of its financial un- dertakings and a conspicuous element in its prosperity. And for whatever time it may yet continue, in like sub- stantial success, it is confidently hoped that this insti- tution may be a contributor to the welfare of the city and the State in which it has fulfilled, for so long a period, a service of so much honor and usefulness. r-jftsj^^ JOHN EEATTY. M.D. Memtercfthe Contmeiital Congress U '- O ^^/; ^W Biographical Si and in June, 1793, was elected Clerk of the Supreme Court, which ofiSce he held until November, 1807. In 1797 he was a Presidential elector, casting his vote for John Adams. He was Quarter Master General of the State from 1807 to 1813. He was Grand Treasurer of the Grand Lodge F. and A. M. from 1805 to 18 1 3. On coming to Trenton, General Rhea erected the mansion on West State street, oppo- site the Capitol, which was afterwards for many years the residence of Philemon Dickinson. A daughter of General Rhea married General Garret D. Wall. Gen- eral Rhea died in Trenton, February 3d, 181 5. Isaac Smith (1805-1806) was the first President of the Trenton Banking Company, having been elected on the organization, February 13th, 1805. He was gradu- ated from the College of New Jersey in 1755, and was a tutor in that institution until 1758. He studied medi- cine, and on receiving his degree practiced in Trenton. From the commencement of the troubles with Great Britain, he was distinguished for his patriotism and he was, in 1776, elected Colonel of the First Regiment of Hunterdon Militia, he resigned in 1777, and on the iSth of February, of that year, he was elected a Justice of the Supreme Court of New Jersey, which position he /.)r//'r ri? n { .^//it :>'') 69 held, by successive re-elections, until November ist, 1804. Although not a member of the bar, he made himself a pretty good lawyer, and discharged with dig- nity and fidelity the important duties of that office. While holding the office of Judge he was, in 1794, elected a member of the Federal Congress, and served from 1795 to 1797. He was also elected a Presi- dential elector in 1800, casting his vote for John Adams. A biographical notice of Judge Smith was printed in the first volume of "The Portfolio," pub- lished by Dennie in 1809, and it was there said of him that "endowed with fine talents, blessed with bright and just perceptions and enjoying the glorious privileges of classical education, he united in delightful and honor- able assemblage, the characters of a Christian, a Scholar, a Soldier and a Gentleman." With the notice was pub- lished a portrait of Judge Smith, engraved by David Edwin, and it is one of the most admirable productions of that eminent engraver. Judge Smith's residence was on King (now Warren) street, where the American Hotel now stands, and his office adjoined his residence. The inscription on the tomb of Judge Smith, which has been described "as a successful specimen of the lapidary style" is as follows : "In Memory of Isaac Smith, Esqr., who departed this life August 20, 1807, In the 68th year of his age. With Integrity and Honest Intentions ; As a Physician and Judge, to the best of his Ability, He distributed Health and Justice to his Fellow Men, and died in the Hopes of Mercy, through a Redeemer." Joshua Wright (1805-1808, 1810-1817), son of David Wright, owned a large farm in Hamilton town- 70 ship, along the Assanpink creek and adjoining the city of Trenton, part of which, in recent years, was owned by the late Henry N. Smith, and formed a portion of the Fashion Stud Farm. He was born in 1757 and died in 183 1. He married Mary Potts, who died in 1849. He was one of the incorporators of the Princeton and Kingston Branch Turnpike Company in 1807. Peter Gordon (1806-1810, 181 1, 1814-1815, 1817- 1818, 1 820- 1 821) was a Captain in the First Regiment, Hunterdon County Militia, in the Revolutionary army in 1777. In 1 781 he was appointed one of the commis- sioners to estimate losses of property during the Revolu- tion. He was one of the first Inspectors of the State Prison, and was treasurer of the Trenton Delaware Bridge Company in 1805. He was an elder of the First Presbyterian Church in 1787, and a trustee in 1804. He was State Treasurer for eighteen years, from' 1803 to 1821. Benjamin Smith (1806) was bom and spent his youth in Elizabethtown. About the close of the eigh- teenth century he removed to Trenton, and was a mer- chant there for several years. He was President of the Board of Trustees of the First Presbyterian Church, and Treasurer for several years. He was an elder in 1806. In 1 81 4 he returned to Elizabethtown, and died there in 1824. 71 Caleb Newbold (1807, 1809, 181 1, 1813, 181 5, 1817-1819), a great-grandson of Michael Newbold, one of the early settlers of Springfield township, Burlington county, was born November 2d, 1763, and died Novem- ber 17th, 1853. He spent his life on his farm in Bur- lington county, holding numerous positions of trust in the township, and being a member of the Legislative Council in 1818 and 181 9. He was a Presidential Elector, with Colonel Jonathan Rhea, in 1796, and cast his vote for John Adams. William Lovett Smith (1807-1816) owned and occupied a farm in Springfield township, Burlington county, which he bought in 1800 from his sister Ann Gill, who inherited it from their mother, Mary Smith, of Springfield. EllETT Tucker (1807, 1814, 181 5, 1817, 1820) was a son of William and nephew of Samuel Tucker, who was President of the Provincial Council of New Jersey, Justice of the Supreme Court and State Treas- urer. EHett Tucker was a hatter in Trenton, having his store at the southwest corner of State and Broad streets. His property extended from the corner along Queen street (afterward Greene, now Broad) south to the Methodist church property, and along Second (now State) street to and including the store of Vannest, Coleman and Company. He was a prominent and in- fluential citizen, and was Clerk of the Board of In- spectors of the State Prison for a number of years from 1805. He was the father of John R. Tucker, mayor of the city of Trenton from 1852 to 1854 and from 1855 to 1856. 12 Aaron Dickinson Woodruff (1807-1817) was born at Elizabethtown in 1762; was graduated at the College of New Jersey in 1779, and delivered the vale- dictory oration at Commencement exercises; was ad- mitted to the bar in 1784; was made Attorney-General of the State in 1793, and annually re-elected, except in 1811, until his death, in 1817. He also served in the legislature, and was influential in having Trenton selected for the capital of the State. He was the second Mayor of the city of Trenton under the first charter of 1792, havingf been elected in 1794, and served until 1797. In 1792 he was a Presidential elector, casting his vote for General Washington. His tombstone in the churchyard of the First Church, Trenton, records that "For twenty-four years he filled the important station of Attorney-General with incorruptible integrity. Ad- verse to legal subtleties, his professional knowledge was exerted in the cause of truth and justice. The native benevolence of his heart made him a patron of the poor, a defender of the fatherless; it exulted in the joys or participated in the sorrows of his friends." George Abbott (1808-1818, 1820, 1824-1826) was a dry-goods merchant, having his house and store on Warren street, where the Trenton House now stands, "opposite the Indian Queen tavern." John Potts (1809), son of Richard Potts and nephew of Stacy Potts, in whose house on Kings (now Warren) street, Colonel Rahl died, was born Novem- 73 ber nth, 1761. He operated a tannery on Tan Yard alley west of Warren street, and built and lived in the house on North Warren street afterward long occupied by William H. Potts. He died in 1826. Philip F. Howexi. (1810, 181 1, 1822-1829) was born in Ewing township in 1776. He carried on a general mercantile business with Benjamin Pish, having a warehouse in South Trenton, and conducting a line of boats from Philadelphia. He was one of the Inspectors of the State Prison, and treasurer of the Trenton Del- aware Falls Company. He was killed by a fall from his carriage on August 24th, 1831. AzARiAH Hunt (1811-1821) was born in Hopewell township, December 25th, 1777, in the house near Pen- nington now occupied by William D. Hill. During his boyhood he served an apprenticeship in the store of his uncle, Abraham Hunt, in Trenton, and afterward en- gaged in general merchandising business in Lamberton. He lived in the house afterward occupied by his cousin, Captain William Edgar Hunt, U. S. N. He died April 27th, 1 82 1. Nathaniei. Hart (181 2) was elected by the legis- lature in joint meeting, but there is no record of his having qualified as a director. 74 John Imlay (1812) son of Johnston Imlay, was born in Allentown, December i8th, 1749. He was a shipping merchant, trading between Philadelphia and the West Indies. Later in life he owned and operated the mill at Allentown, and several farms in the vicinity. He died February 2d, 181 3. John Van Cleve (1812, 1814, 1816, 1819, 1821- 1824) was a native of Maidenhead, a few miles from Princeton. He was graduated from the College of New Jersey in 1797, and practiced medicine in Prince- ton during his life. He had a large practice and en- joyed the confidence and respect of the community. He was ruling elder in the Presbyterian church for twenty- one years; also a trustee from 1816 to 1823. He was a trustee of the college from 1810 to 1826, and filled the chair of chemistry, in the absence of Dr. Maclean, in 1 81 2. He was president of the New Jersey Medical Society in 181 5, and was an active and prominent mem- ber of that association. He died in 1826, at the age of forty-eight. Henry Bei^lERJEau (1812-1815), grand-nephew of Samuel Tucker, was assistant keeper of the State prison in 1798. He was appointed Keeper in 1804, and served until 1 81 2, when he declined to be a candidate for re- election. He died August 22d, 1826. Thomas Chew Sterung (1813, 'i5-'29)> son of James and Rebecca Budd Sterling, was born in Bur- lington, April 4th, 1787. He removed to Trenton just 75 previous to 1811, and engaged in mercantile business, Tiaving a general store on Warren street, between State and Front, which was known all over the State, and was one of the largest in this locality. He married Edith Weatherly, of Burlington, in 181 1, and died in Trenton in 1854. John Scudder (1814, 1816, 1818, 1820-1824), of a long line of Scudders, whose ancestor, Thomas, came to Salem, Mass., as early as 1635, ^"^ whose ancestor, Richard Betts, came to Ewing township as early as 1706, was born August 31st, 1765, on the farm on the Delaware, the ownership of which has been in the Scudder name since the year 1708. His grandson, John H. Scudder, president of the First National Bank of this city, is the present owner and occupant. His edu- cation was in the district schools, and his life was spent on the home farm. He was a trustee of the Fwing Pres- byterian Church for many years, and died universally respected April 15th, 1830. Richard L. BeaTTy (1817-1825) was born Feb- ruary nth, 1779, was graduated from the College of New Jersey in 1797, studied law with Samuel Leake, and was admitted to the bar in 1801. He began his practice at Allentown, but gave much time to other pursuits. For a time he lived at Bloomsbury, and was engaged in one of the first pottery establishments of Trenton. He was a member of the House of Assembly in 1 82 1, 18^3 and 1824, Clerk of the Assembly in 181 3, and a judge of the Court of Common Pleas of Burling- ton county. He was Grand Secretary of the Grand 76 Lodge of Masons, 1814, and postmaster at AUentown, 1 801 to 1806. The last years of his Hfe were spent in AUentown, where he died July 22d, 1846. Chari^es Ewing (1817, 1820-1823), son of James Ewing, of Cumberland county, who removed to Trenton about 1799, was born in 1780, prepared for college at the Trenton Academy, took the first honor at the College of New Jersey at his graduation in 1798, read law under Samuel Leake in Trenton, and was admitted to the bar in 1802. The next year he married a daughter of the Rev. James F. Armstrong. He was appointed Chief Justice in October, 1824, and re-appointed in 1831. The Hon. Samuel L. Southard said of him that "his exposition of the system of jury trial is the most fin- ished and beautiful exhibition of its merits which is to be found, in the same compass, in our language." The same distinguished gentleman drew his friend's char- acter as follows: "In intellect, vigorous and discrim- inating. In industry, assiduous and persevering. In integrity, pure and incorruptible. In manners, afifable, dignified and polished. In morals, spotless. A pro- found jurist and upright magistrate. An accomplished scholar and patron of literature and science. The advo- cate and supporter of benevolent institutions. He won. in an eminent degree, the respect, the love and confi- dence of his fellow citizens. Happy in his domestic re- lations, home was the theatre of his most endearing virtues, and the sphere in which he loved to move. He reverenced the doctrines and practiced the precepts of the Christian religion. In the vigor of his mental and bodily powers, surrounded by blessings, cheered by the THOMAS L.WOODRUFF 77 approbation of his fellow men, with an extended pros- pect of service and usefulness before him, he was at- tacked with a violent disease, which suddenly termi- nated his life on the fifth day of August, A. D. 1832, in the fifty-third year of his age." Ewing township was named in honor of him. He left two sons, Dr. Francis A. Ewing and James Ewing, mentioned else- where, and three daughters, two of whom married Chancellor Henry W. Green, and the third his brother, Judge Caleb S. Green. Thomas L. Woodruff (181 8-1 831), fourth Presi- dent, was the second son of Attorney-General Aaron Dickinson Woodruff. He was graduated from the College of New Jersey in 1806, studied medicine with Dr. Nicholas Belleville, and received the degree of M. D. He began his practice in Savannah, Georgia, where he remained some years. Returning to Trenton, he practiced here for a considerable time, but on ac- count of his own health relinquished his practice and retired to his farm in Ewing township, now the prop- erty of the Trenton Country Club, where he spent the last years of his life. He died in 1S51, at the age of sixty-one. David Morris Robeson (1819, 1820, 1822) ac- cording to the "Robeson Genealogy," was born in New York, May 19th, 1759. His father built the first iron furnace in that province, and, removing to New Jersey, built a small blast furnace at Oxford, in Sussex (now Warren) county, in 1741. Morris spent his youth with relatives in Philadelphia, but upon attaining' his ma- 78 jority removed to his father's farm in Oxford. Return- ing to Philadelphia, he entered intoi partnership with the firm of Paul Brothers, who manufactured iron from bog ore near Weymouth, in Atlantic county, and built a canal for the purpose of transporting ore to their furnace. This canal is said to have been the first canal constructed in the State. He married Miss Tacy Paul. Late in life Mr. Robeson removed to Oxford and en- gaged in business. He was judge of the Court of Com- mon Pleas in Sussex (afterward Warren) county. He died January 31st, 1823, in his sixty-fourth year. WESTI.EY P. Hunt (18201827, 1832) son of Pear- son Hunt, first cashier of the Bank, was bom March 31st, 1796. He was a clerk in the store of his grand- father, Abraham Hunt, and afterwards carried on busi- ness for himself. He became a clerk in the Bank in 1832, and afterward Pension Agent. About i860 he removed toi Minnesota and resided with his son, William Edgar Hunt, in St. Paul. He was appointed a clerk in the Treasury Department at Washington in 1864, and held the position a short time, when he returned to St. Paul, and died there December 20th, 1866. John Watson (1821-1826) was a great-grandson oi William Watson, who came to Philadelphia in 1684, and to New Jersey a little later, and a grandson of Isaac Watson, who in 1708 built the house now standing on the farm next to Dr. Charles C. Abbott's, south of Trenton. He was a cabinet-maker, but his residence and place of business are not now known. 79 Thomas Redman (1822, 1823) was elected a di- rector at the annual meeting of the stockholders of the Bank, but there is no record on the minutes O'f the Board O'f his attendance at any meeting or that he ever quali- fied as a director. Joseph M. Bispham (1821-1828) was an inn- keeper, and at one time kept the old City Tavern, form- erly Witt's, which stood on the southwest corner of Second (now West State) street and Kings (now War- ren) street, where the Mechanics National Bank now stands. The Convention of New Jersey called by reso- lution of the legislature on October 29th, 1787, was held at Witt's Tavern, and the sessions were from December nth, 1787, to December 20th, 1787, on which day the Constitution O'f the United States was ratified. The bill of Francis Witt for the use of a room and firewood during the sitting of the Convention was four pounds and twoi shillings.* Mr. Bispham was afterward proprietor of the Trenton House. The first annual dinner of the Bank was given "at Mr. Bis- pham's," February 12th, 1829. He removed to West Point, and in 1830 established the Clinton Hall hotel, in Beekman street. New York, where he died of cholera, in 1832, aged fifty-five. * Mr. Witt kept several other houses in Trenton, at diflferent dates, and it is thought by some investigators that he never kept the old City Tavern. But he is known to have been in Trenton as late as 1786. The lease of the City Tavern, taken by the State for the use of the Continental Congress, expired in April, 1786. Mr. Witt was an innkeeper in Elizabeth in 1790. We follow the hitherto undisputed tradition that Mr. Witt kept the City Tavern in 1787. 8o Joseph Abbott (1822) great-grandson of John Abbott, who came from England in 1684, and took up a large tract of land extending from Crosswicks Creek to Pond Run, was born July 8th, 1779, married Anne, daughter of John and Amy Olden Rickey, and died October 28th, 1861. He moved while his father occu- pied the homestead to land west of the Bordentown road, now occupied by his grandson, Dr. Charles C. Abbott. He was a farmer all his life. Timothy Abbott, for many years president of the Mechanics National Bank of this city, was his son. Henry B. HowEti. (1823-1827, 1828) was bom in Hopewell township, Hunterdon county, but at an early age removed to Trenton, where he became a merchant, having his store for a long time on the west side of Warren street, between State and Front streets. He died in 1854. Aaron Van SyckeIv (1823, 1835-1873) born in Hunterdon county. May 27th, 1793, was a merchant and large land owner and spent his life upon his farm in Union township. He was a presidential elector in 1832, and cast bis vote for Andrew Jackson. He was the father of the Hon. Bennet VanSyckel, late Justice of the Supreme Court. He died January 4th, 1874. WiLWAM HaIvSTEd (1823-1825, 1826-1832) be- longed to the family of Halsteds of Essex county. He was a brother of Chancellor Oliver Spencer Halsted of 8i Newark. He was graduated from the College of New Jersey in 1812, was admitted to the bar in 1816, and early settled in Trenton. He was an industrious and indefatigable lawyer, had a large practice, and was usually retained by those who had suits against the Camden and Amboy Railroad Company. He was Prosecutor of the Pleas in Hunterdon county from 1833 to 1837. He was a member of Congress from 1837 to 1839 and from 1841 to 1843, was appointed District Attorney for the District of New Jersey, and held the office of Reporter of the Supreme Court. He published Halsted's Reports, in seven volumes. He raised the First New Jersey Cavalry in the Civil war, and went out as Colonel of the regiment, but was not long in the service. He died in 1873, at the age of eighty-four. John Van Syckel (1824, 1825) born November 1 2th, 1786, brother of Aaron Van Syckel mentioned above, was also a man of large landed property, and spent his life on his farm, not far from that of his brother, in Hunterdon county. He died April 21st, 1866. John Guuck (1825-1828) lived near Kingston, and was an influential, enterprising and public-spirited citi- zen. He was a pioneer of the express, stage and steam- boat lines between New York and Philadelphia, and largely interested therein previous to the introduction of railways into the State. In connection with this busi- ness he was joint proprietor, with Gen. John N. Cum- ming, of the Nassau Hotel in Princeton. 6 82 Thomas SiTEVEns (1825) owned and lived on a farm in the township of Lawrence, north of Trenton, on the west side of the canal, where he spent his life, holding, so far as is known, no civic office. He died May 24th, 1825, aged sixty-three. Zachariah RossEUv (1826, 1827, 1828-1833), son of the Hon. William Rossell, a Justice of the Supreme Court, was born in 1788, in Mount Holly, where he lived until the war of 1812, when he was appointed a Captain in the Fifteenth Infantry, and in 1813 a Major in the Twenty-fifth Infantry, and transferred in 1814 to the Fifteenth Infantry. He resigned June isth, 181 5. He then returned to New Jersey and settled in Trenton, and in 181 7 was elected Clerk of the Supreme Court by the legislature, and was continued in that office until his death in 1842. He was also Adjutant-General of the State from 1816 to 1842. He married Lydia, daughter of Nathan Beakes, and granddaughter of Colonel William Trent, who was the son of Chief Jus- tice William Trent. Joseph OudEn Clarke (i 826-1 828), a member of a large family descended from Benjamin Clarke, who came to Stony Brook, near Princeton, in 1696, was bom March loth, 1797. He inherited from^ his ances- tors a considerable portion of the family estate, and lived all his life on that portion of the farm of the first settler, which lies eastward from the field of the battle of Princeton. He was appointed cashier of the Bank on October loth, 1828, and served until June 5th, 1832, when he resigned. He was treasurer of the Trenton Delaware Bridge Company in 1830. 83 Chari,es Burroughs ( 1826-1850) son of John Bur- roughs, a Revolutionary soldier, was born in Ewing township, January 27th, 1788. He carried on the busi- ness of merchant tailor in Trenton for a considerable time, afterward engaging in other business. He was Mayor of Trenton from 1832 to 1847, and a Presidential elector in 1849. He was Judge of the Court of Common Reas for Mercer county for sixteen years. Collector of the county for eleven years, president of the Trenton Delaware Bridge Company, a trustee of the Trenton Academy and a trustee of the First Presbyterian Church for many years. He resigned his office as director in 1850 in order to become notary for the Bank, and died in 1864, at the age of seventy-seven. Samuel Dickinson (1826-1831) son of General Philemon Dickinson, was born April 6th, 1770, studied law with Edward Tilghman, of Philadelphia, and was admitted to the bar of Pennsylvania in 1792, but never practiced. He returned to Trenton and resided on his estate, "The Grange," in Millhami, now the Eighth Ward of Trenton. On the death of his father he re- moved to his father's estate, "The Hermitage," after- ward the Atterbury property, on West State street. He married his cousin Anne, daughter of Samuel Meredith, the first Treasurer of the United States. He died No- vember 8th, 1839. Charles Higbee (1827) son of Joseph Higbee, was bom in Trenton. He and his brother Joseph removed to Philadelphia, and were merchants in the China trade. 84 On returning to Trenton Joseph Higbee erected the property known as Richmond Hill, where Colonel Roeb- ling's property now stands, extending on the east to and including the property of Governor Vroom and on the west including the property of the late John G. Stevens. Charles Higbee lived first in "The Cottage," on the bank of the Assanpink, next at "The Grange," formerly the residence of Samuid Dickinson, and after 1815 on the place in West State street, afterward occupied by Mr. Philemon Dickinson, which he purchased from the estate of Colonel Jonathan Rhea. He greatly beautified the town by the planting of fine trees upon all these properties. He was a trustee of the Trenton Academy. He died February 14th, 1841, at the age of seventy-two. HeNRY Paxson (1827, 1828) was a son of Samuel Paxson, of Trenton, and was engaged in business with his father under the name of Samuel Paxson and Sons, who had a drug and hardware store, and also conducted a tannery near the corner of Union and Market streets. He married Hannah Caroline, daughter of David Clarke, a director. He resigned from the Board tO' accept the office of clerk in the Bank, and was subsequently elected teller. Charles Parker (1828) was born in Freehold township, Monmouth county, April 27th, 1778. He served as clerk in the business of Barzillai Hopkins, at New Egypt and Toms River for seven years, then re- moved to Forked River, where he kept store and served 8s as wreck-master along the coast from Sandy Hook to Egg Harbor. He was sherifif of Monmouth county- three years and member of the Assembly from 1817 to 1 82 1. He was State Treasurer from 1821 to 1832 and from 1833 to 1836, and State Librarian from 1823 to 1828. He was appointed Judge of the Court of Com- mon Pleas for Hunterdon county, and was one of the commissioners to build the State Prison. He was the first cashier of the Mechanics' Bank of Trenton, and president for the year 1836- 183 7, when he returned to the office of cashier, which he filled until 1840. He also held several minor civic offices. The house now owned by Mr. J. Allen Southwick, 421 East State street, was built by him. He lived to see his son Joel nominated for governor, but did not survive the election, dying on October 4th, 1862, at the age of eighty- four. Samuel R. Hamii^Ton (1828) was born in Prince- ton, of Scottish ancestry, graduated from the College of New Jersey in 1808, and studied law with Isaac H. Williamson at Elizabethtown. He was admitted to the bar in 1812, and opened an office in Princeton, where he practiced for some years and served one term as Record- er, afterward removing to Trenton. He acquired a large practice, and attended the courts of Hunterdon, Somerset, Middlesex and Burlington before Mercer was formed. He was regarded as a keen, fearless law- yer. He had a good deal of public spirit and of military pride. He was Quartermaster-General of New Jersey for many years. He filled the office of Prosecutor oif the Pleas of Mercer county only a few years before his death. Morris Robeson Hamilton, for a number of years State Librarian, was his son. 86 Benjamin Olden (1828, 1829) descendant of John Olden, who came to Stony Brook, near Princeton, in 1696, was born in 1787 and lived on the land of his ancestors all his life. He married Mary Worth, of an- other of the original families of settlers in Princeton, sister of David and Josiah S. Worth, directors of the Bank. Aaron O. Shuef (1828, 1829) was a general mer- chant and proprietor of the Union Hotel, of Blooms- bury, and a stage proprietor before the building of rail- roads. He married Elizabeth, daughter of Joseph M. Bispham, proprietor of the City Tavern and of the Trenton House. Phii,emon Dickinson (1828-1880) the fifth Presi- dent of the Bank, was born at "The Grange," near Trenton, on the i6th day of February, 1804. On the death of his grandfather. Gen. Dickinson, Mr. Dickin- son's father removed to "The Hermitage," where the family resided until 1851. Mr. Dickinson was the son of Samuel Dickinson and grandson of General Philemon Dickinson, who com- manded the New Jersey militia during the entire Revo- lutionary war, and was subsequently a member of the Continental Congress, and United States Senator from New Jersey. Mr. Dickinson was educated at the Tren- ton Academy, entered the College of New Jersey and was graduated in 1822. He read law with Chief Justice Ewing and Gen. Garret D. Wall, and was admitted to the bar in 1826. He opened a law office in Trenton, but without regret relinquished the practice to accept the PHILEMON DICKINSON 87 presidency of the Trenton Banking Company. He was elected to this position on the nth of February, 1832, at the early age of twenty-eight, succeeding Dr. Thomas L. Woodruff. From 1832 until 1881 he filled the office of President of this Bank. He was ever punctual and regular in his attendance at the bank and ever courteous in his dealings, both with the public and his fellow officers, and it may well be said of him that he was in every way a thorough and conscientious official. Fail- ing health and strength alone caused a severance of his relations with the Bank, and his retirement was deeply regretted by those with whom he had been associated for so many years. Under his judicious management, aided by sagacious advisers, the Bank became one of the strongest financial institutions in the State. Mr. Dickinson was a public-spirited citizen and was ever active in the affairs of his native city. He was a member of the Common Council, and an attentive and intelligent member. To him we are indebted for the establishment of the present Sinking Fund of the city. He also served for many years as one of the Chosen Freeholders from the city. Upon the establishment of the present water works he was elected one of the com- missioners, holding the position until 1874. He was for many years United States Pension Agent in Trenton and in 1873 he was appointed by Governor Parker a Commissioner of the Sinking Fund of the State in the place of Governor Vroom, deceased. He also served upon the Constitutional Commission of 1874. Mr. Dickinson was a man of cultivation and of de- cided literary tastes and ability. He was an extensive reader and a close student of history, possessing to a wonderful degree a knowledge of the history of our country and of our public men. His only published 88 literary effort was a sketch of his grandfather, General Dickinson, which was contributed by him to "Rogers' Biographical Dictionary" while yet a very young man, and which displayed a thorough knowledge of his sub- ject and the important events in which General Dick- inson took so leading a part. After selling "The Hermitage," Mr. Dickinson moved into the city, and for the last thirty years of his life resided in the mansion, opposite the State Capitol, which had been built by Colonel Jonathan Rhea, where he died on the second day of September, 1882. Thomas Grant (1829-1830) was born in Trenton in 1769. He lived during rtiiOist of his life upon his property in Nottingham township, was State Prison Inspector in 1805, and died May 31st, 1831. Thomas Cadwai,ader (1829, 1832, 1833) was the son of Col. Lambert Cadwalader and Mary McCall Cad- walader, and grandson of Dr. Thomas Cadwalader, who, in 1745, was elected the first Chief Burgess of Trenton after it had received its borough charter. Lam- bert Cadwalader was an ardent patriot, and in 1 774 was a member of the Congress of Deputies of Pennsylvania, and in 1776 was commissioned as a Lieutenant-Colonel in the Pennsylvania line, subsequently a Colonel, and was taken prisoner in November, 1776, on the capture of Fort Washington. He was, from 1784 to 1787, a mem- ber of the Continental Congress and a member of the First and Third Federal Congress. Thomas Cadwala- 89 der was born Sq)tember nth, 1795, at "Greenwood," the family estate, now Cadwalader Place, Trenton. He was graduated from the College of New Jersey in 1815. The only puWic position held by him was that of Adju- tant-General of New Jersey from 1842 to 1858. As was fittingly said of him, "Through a long and happy life he both commanded respect and won affection, and at last, surrounded by 'that which should accompany old age, as honor, love, obedience, troops of friends,' died on the i6th day of October, 1873, at the place which was his father's, and was buried by his side." Samuix L. Southard (1830- 1834, 1836) was bom at Baskingridge, Somerset county, June 9th, 1787. He was the son of Henry Southard, who represented this State in Congress from 1806 to 1810, and again from 181 5 to 1821 ; during his last year of service his son was a Senator from this State. Mr. Southard was edu- cated at the classical academy of Rev. Robert Finley, at Baskingrid^ge, and in 1802 entered the junior class in the College of New Jersey, and was graduated in 1804. He taught school for some years, after gradu- ating, in this State and in Virginia, and came to the bar in 181 1, settling at Flemington. He was appointed prosecuting attorney for Hunterdon county. In 181 5 he was elected to the Assembly, and on the election of Mahlon Dickerson, then a Justice of the Supreme Court, as Governor, was chosen on October 31st, 181 5, to suc- ceed him in that court; he was also reporter of the de- cisions of the Supreme Court, having been appointed in February, 1814. In 1820 he was elected United States Senator to succeed James J. Wilson, whose term was 90 about to expire March 3d, 1821, and on his resignation Mr. Sbuthard was elected to fill the vacancy, and took his seat on February i6th, 1821. He was also chosen a Presidential elector in 1820, and cast his vote for President Monroe. In 1823 he was appointed Secretary of the Navy by President Monroe, and re-appointed in 1825 by President John Quincy Adams. In 1829 he returned to New Jersey and was again a candidate for the Senate, but was defeated, when he was elected At- torney-General. In 1832 he was elected Governor. After a service of three months he became a candidate for the Senate, and was elected, taking his seat March 4th, 1833, and in 1838 he was elected for another term. On the accession of Vice-President Tyler to the Presi- dency, in 1841, he was elected President pro tem. of the Senate, and occupied that position until his death, June 26th, 1842. In 1838 Mr. Sbuthard was elected president of the Morris Canal and Banking Company, and in consequence removed his residence from Trenton to Jersey City. David Clarke (1830- 1842) uncle of Joseph Olden Clarke mentioned above, was bom in 1779, and spent his lifetime on his portion of the Clarke farm near Princeton, having held, so far as is known, no public office of any kind. He was the son of Benjamin Clarke (the fourth) and Hannah, daughter of William Lawrie, a well-known traveling preacher of the Society of Friends. In 1806 he married Anna Olden, and their daughter, Hannah Caroline, married Henry Paxson, elsewhere mentioned, in 1828. 91 David Worth (1830) son of Samuel Worth and brother of director Josiah H. Worth, of Worth's Mills, Stony Brook, near Princeton, was bom in 1784, and spent his life on the family) farm at Stony Brook. Joshua Wright, Jr. (1830- 1859) nephew of the Joshua Wright mentioned elsewhere, owned and occu- pied the farm which was his uncle's in Hamilton town- ship, and also operated a woolen mill nearly on the spot now occupied by the DeLaval Turbine Works. He was a member of the Board of Inspectors of the State Prison in 1849, 3^d a member of the legislature in 1831-32. He died February 3d, 1867, at the age of eighty-seven. John Wii^on (1831, 1832) son of Allen Wilson, ■one of the early Scotch-Irish settlers of New Jersey, was born in the vicinity of Green Brook, now Plainfield, in 1776. He was Judge of the Court of Common Pleas in Somerset county for a number of years. In 1824 lie was appointed Clerk in Chancery and removed to Trenton. He held that office until 1831, when he re- signed owing to failing health. He was a Presidential elector in 1820, casting his vote for James Monroe. Thomas Johnson Stryker (1831-1842) was born in Princeton, in 1800, coming from an old Dutch an- cestry, two families of whom settled in New Amster- dam in 1652. He was a merchant and banker in Tren- 92 ton for forty-eight years, and the confidence won by his judgment and integrity extended beyond the mercantile line and drew to him large numbers of persons for friendly counsel. He was at one time a Judge of the Court of Common Pleas. He was a manager and sec- retary of the Board of Managers of the State Hospital for the Insane from its foundation until his death. He was chosen by the legislature, with eight of the most prominent citizens of the State, to represent New Jersey in the Peace Convention, at Washington, in 1861. He was president of the Board of Trustees of the Trenton Academy, a manager of the Trenton Saving Fund Society, registrar of the Camden and Amboy Railroad Company, treasurer of the Board of Trade and first treasurer of the Historical Society of New Jersey. He was a trustee of the First Presbyterian church and a ruling elder from 1836. In 1842 he was made cashier of the Bank and served in that office until his death in 1872. He married Hannah, daughter of director John Scudder, and upon her death married her sister Eliza- beth, widow of John Chambers. JosiAH S. Worth (1832-1854) bom June 2Sth,. 1787, was a son of Samuel Worth, of the family which had owned Worth's Mills, at the stone bridge over Stony Brook, on the Princeton, Lawrenceville and Tren- ton road, from their establishment in 1697. Josiah owned and operated the mill, now the property of Joseph H. Bruere, his nephew, until his death in 1854. He was a member of the legislature, and held many local offices in Princeton. He was a Presidential elector in 1836. 93 Jamis Ewing (1833-1857) son of Chief Justice Charles Ewing, of Trenton, was graduated from the College of New Jersey in 1823, studied law, and was admitted to the bar in November, 1826, and opened his office in Trenton, where he continued to practice till shortly before his death, which occurred in 1869. His practice was chiefly office business. He was a well-read lawyer, and a man of gentle manners. He never mar- ried. Benjamin Fish (1833-1880) was bom in what is now the township of Ewing in 1785. In 1808 his father moved to Trenton and Benjamin entered into the hotel and livery business with his brother. When the war with Great Britain occurred in 18 12, he became inter- ested in vessels plying between Philadelphia and Tren- ton, and soon after engaged in the business of trans- porting commissary and ordnance stores across the State. When peace was proclaimed he began the lum- ber and mercantile business in Trenton, and continued therein until 1877, when he transferred it to his partner, George S. Green. He received and sold the first coal ever brought to Trenton. In 1825 he became connected with the Union Line Stage and Transportation Com- pany, in which he continued until the Camden and Am- boy railroad, of which he was one of the original pro- jectors and stockholders, was built. He himself drove the first car over the road from Amboy to the Sand Hills. He was one of the original stockholders of the Delaware and Raritan Canal Company, a manager of the Trenton Saving Fund Society from its organiza- tion, a director, and at one time president, of the Free- hold and Jamesburg Railroad Company, president of 94 the Merchant's Transportation Company, and president of the Trenton Delaware Bridge Company. He was for fifty-five years a trustee of the First Presbyterian church and president of the Board from 1864. His daughter was the wife of John Story Chambers, some- time a director of the Bank. Alexander Wurts (1834 and alternate years until 1874) son of John Wurts, iron manufacturer of Mor- ris county, was born in Flanders, New Jersey, in 1799, was graduated from the College of New Jersey in 1815, studied law in Philadelphia and Flemington, New Jer- sey, and settled in Flemington in 1820. In 1824 he was elected to the Assembly and from 1829 to 1832 was Speaker. In 1833 he was elected to the Legisla- tive Council from Hunterdon county. In 1844 he was a member of the Constitutional Convention, and was elected president thereof on the death of Governor Wil- liamson. He was State Senator in 1844, and again from 1865 to 1869. In 1853 he was nominated by the Governor and confirmed by the Senate as Chief Justice, but declined the honor. He was president of the Board of Managers of the State Hospital for the Insane for many years, after 1859. He died February i6th, 1881. Stephen I. Ci^rke (1834-1841) a descendant of the first Benjamin Clarke, of Stony Brook and Prince- ton, owned and occupied a large farm, a portion of the original Clarke estate, near the village of Clarkesville, in Mercer county. 95 Isaac Wei^ung (183 5- 1867) a descendant of John Welling, of Welsh origin, who came to Hopewell in 1727 from Jamaica, L. I., was bom and lived all his life upon the farm of his father and grandfather, near Pennington. He was for fifty-seven years an elder in the Presbyterian church of Pennington. He died Feb- ruary 29th, 1868, at the age of eighty-four. Jesse Moore (1838) was a descendant of the Rev. John Moore, who settled in Newtown, Long Island, about 1652. He was a member of the First Regiment, Hunt- erdon Militia, Colonel Isaac Smith, during the Revo- lution. He owned and occupied the farm, which for generations belonged to the Moore family, on the "Scotch road," afterward purchasing the farm near the junction of the Lawrenceville road with the Pen- nington turnpike. He was a trustee of the Pennington church for many, years, and died July 8th, 1839, aged eighty-nine. JosiAH Hart (1840, and alternate years to 1864) a descendant of Ralph Hart, one of the earliest settlers of Hopewell, was bom October 21st, 1782, and died April 9th, 1864, having spent his life on the farm be- longing to the Hart family, in Hopewell township, a few miles west of Pennington. So far as known he held no civic office. Morgan Scudder (1841-1867) was the son of John Scudder, the director who died in 1830, and was born 96 on the same family farm on the Delaware, where, like his father, he spent his quiet and useful life. He was also a trustee of the Ewing church, and died May loth, 1868, at the age of seventy-one. One of his sisters mar- ried Samuel S. Stryker, and another married Thomas J. Stryker, directors of the Bank. Wii^uAM G. Cook (1842-1875) was born near Trenton in 1806. He began business in Trenton in 1832 with William Grant, dealing in lumber. He be- came a large property holder, purchasing and improving large blocks of real estate. He was elected a director of the Bank upon the resignation of Thomas J. Stryker, who resigned in order to become cashier. He was a director of the Camden and Amboy Railroad Company, and a manager of the Trenton Saving Fund Society. He was long connected with the First Presbyterian Church of Trenton. He died June 19th, 1875, at the age of sixty-nine. Chari^ES S. Olden (1842- 1875) was born in Prince- ton, educated in the village schools and in Lawrence- ville High School, and devoted himself to mercantile life, being for a considerable time in the business house of Matthew Newkirk, of Philadelphia, and afterward in New Orleans, where he established a large business. He returned to Princeton in 1832, and for a time led a quiet life in agricultural pursuits. Under the new State Constitution he was elected the first Senator from Mercer county and served for two terms. In 1859 he was elected by the combined Republican and American 97 parties Governor of New Jersey. When the rebellion broke out he rendered pre-eminent service to the national cause. His systematic and diligent management of the affairs of the time kept New Jersey in the fore-front among the supporters of the national government. He was a Judge of the Court of Errors and Appeals, and one of the first Commissioners of the Sinking Fund. He was elected Treasurer of the College of New Jersey in 1844 and held the office for twenty-four years. In 1863 he was elected a trustee of that institution. He died in 1876, at the age of seventy-seven. Samuel Stanhope STeyker (1850-1874) brother of Thomas J. Stryker, was born November 2d, 179,7, ^^ Princeton. At an early age he went to Philadelphia, to engage in mercantile business. In 1820 he removed to Trenton, and continued in the same pursuit. He was one of the organizers of the Peoples Fire Insurance Company and was president until his death. He died February 9th, 1875. He held a high position in the confidence and esteem of the community. He was for many years a member of the vestry of St. Michael's Protestant Episcopal Church. He married Mary, daughter of director John Scudder. Charles G. McChesney (1854-1861) was born in ^nglishtown, December ist, 1800, studied medicine, and practiced for a number of years in Hightstown. About 1850 he removed to Trenton and engaged in manufac- turing. He was elected Secretary of State by the legis- 7 98 lature in joint meeting in 1840, and was re-appointed by Governor Stratton, under the new constitution, serving until 1851. He died March 7th, 1861. Caleb Smith Green (1858-1891) was born in Law- rence township, Mercer county. He was graduated at the College of New Jersey in 1837, read law with his brother Henry W. Green, and was admitted to the bar in 1843. He opened a law office in Trenton and was an able and successful practitioner. In 1848 he was elected a manager of the Trenton Saving Fund Society, and in 1853 was elected president of the Board, succeeding Peter D. Vroom, resigned, and he continued in the office until his death. In 1862 he was appointed a member of the Board of Managers of the State Hospital for the In- sane at Trenton, and was for many years secretary of the Board, and at the time of his decease its president. In 1872 he was appointed by Governor Parker a Judge of the Court of Errors and Appeals, vice Charles S. Olden, resigned, and filled that office with distinguished ability until 1882. He was a trustee of the College of New Jersey, as well as a trustee of the Princeton Theo- logical Seminary. As one of the executors and trustees under the will of his brother, John C. Green, he became one of the founders of the Lawrenceville school (John C. Green Foundation). Judge Green died in February, 1 89 1. He married a daughter of Chief Justice Charles Ewing, and his son, Elmer Ewing Green, is now the Vice-President of the Bank and a Judge of the Court of Errors and Appeals. 99 Jonathan Steward (1859-1885) was born of Quaker ancestry near Crosswicks, May 6th, 1809. He spent his boyhood on the farm and in the country school, and was himself a teacher for a few years. He came to Trenton and, with Samuel S. Stryker, opened a general store at the corner of State and Greene (now Broad) streets. About 1864 he built the large store at the cor- ner of State and Stockton streets, and established the wholesale grocery business which occupied him until, after the failure of the Star Rubber and Trenton China Companies, of which he was president, he retired and lived in privacy until his death. He was a director of the Penn Fruit Company, treasurer of the Trenton Bridge Company, president of the Riverview Ceme- tery Company, and director in the Cumberland Valley Coal and Lumber Company and the East Tennessee Lumber Company. He was a large stockholder in the Enterprise Land Company. He was one of the origi- nators of the Trenton Water Department, organized as a stock company and afterward sold to the city. He was a member of the New York Produce Exchange at the time of his death. He was an attendant and sup- porter of the Friends' Meeting in Hanover street. Al,BERT J. W.HITTAKER (1861-1874, 1881-1884) was bom in Trenton, February 19th, 1826. He was educated in Pennington Seminary and Wesleyan Uni- versity, where he was graduated with high honor. He taught for a short time in Haverstraw, N. Y., and then made an extensive trip abroad with his father. Upon his return he engaged in the real estate and conveyancing business in Trenton, and in i860 lOO purchased from the estate of William E. Hunt a tract of land on the eastern border of the city, which he sold in small lots, on easy terms of payment, to many per- sons of moderate means, who were thus able to obtain homes of their own. The building of a considerable portion of the borough of Chambersburg was largely the result of Mr. Whittaker's sagacity and generous dealing. He was for a time connected with a marine insurance company in Philadelphia, a member of the Board of Water Commissioners, and a manager of the Trenton Saving Fund Society. He was cashier of the Bank from 1872 till his death in 1884, at the age of fifty-eight. S. Moore Hart ( 1866, and alternate years to 1874) son of Nathaniel Hart and nephew of the Josiah Hart previously mentioned, was born in Hopewell township, November 4th, 1824, and has spent his life also upon the same farm occupied by his uncle, near Pennington. Joseph H. BruerE (1868- ) seventh President, descendant of Captain James Bruere, of the New Jersey troops in the Revolutionary war, was born in Upper Freehold township, Monmouth county, November 3d, 1830. In the next year his family removed to Prince- ton, where he has lived in the same house until the present time. He was graduated from the College of New Jersey in 1850, and chose farming for his occu- pation. He was a member of the New Jersey legisla- ture in 1867 and 1870, and a manager of the New Jer- sey State Hospital for the Insane. He became President JOSEPH H. BRU ERE lOI of the Bank in February, 1881, and declined a re-election in January, 1904, after a service of twenty-thiree years, but continues in service as a director. Job G. Olden (1869, 1871, 1873, 1875) was a son of Hart Olden, of Princeton, in the fourth generation from John Olden, one of the settlers of 1696, and brother of Governor Charles S. Olden. He was bom in 1807. After his father's death he continued his business in their store on Nassau street, Princeton, until 1839, when he removed to a farm near Princeton. In 1847 he bought from the estate of James Olden a portion of the farm, which has been since 1696 in the possession of the Olden family, and lived there until his death in 1876. While his brother. Governor Olden, was treasurer of the College of New Jersey, Job G. Olden was appointed assistant treasurer, and conducted a large portion of the business of that office for more than twenty years. DaniEIv B. Bodine (1874-1881) was bom in Tuck- erton, April i6th, 1814. He removed to Monmouth county, where he engaged in business until 185 1, when he was appointed Clerk in Chancery. He then removed to Trenton. In 1856 his term as clerk expired and he became a dealer in lumber and coal. He was Mayor of Trenton from 1877 to 1879, and a trustee of the State Street Methodist Episcopal Church from its organiza- tion. He died August i8th, 1881, survived by two sons. Dr. Joseph h- Bodine and the Rev. Dr. William Budd Bodine. I02 Charles Ewing Green (1875-1897) son of Chan- cellor Henry Woodhull Green and Susan Mary Ewing, and grandson of Chief Justice Charles Ewing, was born in Trenton, October, 1840. He received his early edu- cation at the Trenton Academy and was graduated from the College of New Jersey in the class of i860. He studied law with his uncle, Caleb S. Green, and with Judge Edward W. Scudder, afterward a Justice of the Supreme Court of the State, and was admitted to the bar of New Jersey in 1863. Shortly after his admission to the bar, Mr. Green was appointed State Chancery Re- porter and prepared twelve volumes of Green's Reports. He was later appointed Register in Bankruptcy in the United States District Court. He was a trustee of Princeton University and for many years chairman of the Finance Committee of that Board. He was also chairman of the Sesqui-Centennial Committee. Mr. Green was also president of the Board of Trustees of Princeton Theological Seminary. He was president and one of the most active founders of the Lawrenceville School at Lawrenceville, New Jersey. He was active in the management of the Trenton Saving Fund Society and of Mercer Hospital. He died while in attendance upon a meeting of the trustees of Princeton University, December 23rd, 1897. Barker GummerE (1875-1879) son of Samuel R. Gummere, of an old family of Friends in Burlington county, was educated in Trenton, graduated from Haverford College, and was admitted to the bar of New Jersey in 1845. He opened his office in Trenton and entered upon a large and important practice. He was appointed Clerk in Chancery by Governor Olden, and a cMba^mJ 103 re-appointed by Governor Ward, serving from 1861 to 1 871. He afterward returned to his practice, and was one of the leaders of the bar of the State. He married a daughter of Samuel S. Stryker, and his sister married Governor Joel Parker. Henry E. Hale (1875) was born in St. Louis, Missouri, in 1841. His father removed to New Jersey about 1846. In 1864 Mr. Hale purchased the portion of the Clarke farm, near Princeton, upon which the battle of Princeton was fought, and has ever since occu- pied the house in which General Mercer died. He has held many township offices. WiLiviAM S. Stryker (1876- 1899) son of Thomas J. and Hannah Scudder Stryker, was bom in Trenton, June 6th, 1838. He was graduated from the College of New Jersey in 1858, and entered upon the study of the law. He enlisted upon the first call for troops in the Civil War, April i6th, 1861, and subsequently assisted in the organization of the Fourteenth Regiment of New Jersey Volunteers. He was made major and assistant paymaster of volunteers from February 19th, 1863, to June 30th, 1866, when he resigned. In 1865 he was brevetted Lieutenant-Colonel for faithful and meritorious services during the war. After the war he was admitted to the bar in Ohio, but soon returned to New Jersey, and was appointed Adjutant-General of the State in 1867, and continued in that office until his death. He was president of the Trenton Battle Monu- ment Association, president of the Trenton Saving I04 Fund Society, president of the New Jersey Society of the Cincinnati, president of the New Jersey Historical Society. He was the author of many valuable and com- prehensive monographs upon the military history of New Jersey, ccanpiling, amongst others, the records of New Jersey soldiers in both the Revolutionary and Civil Wars. His largest work is his History of the Battles of Trenton and Princeton. He received the degree of Doctor of Laws from the College of New Jersey in 1899. He was President of the Bank from February 1st to February 25th, 1881, when he resigned. He died October 30th, 1900. Charles L. Pearson (1880-1883) was the son of Isaac L. Pearson, a merchant of Philadelphia, who removed to Trenton in 1850, and built the house now at the corner of State and Calhoun streets, where his son lived also until his death. Charles was born in Phila- delphia, was educated at the Moravian school at Naza- reth Hall, near Bethlehem, and in the schools in Phila- delphia. He was a student in the Medical Department of Yale College, and received a diploma from the State Medical Society of New Jersey in 1844. He never practiced his profession. Possessing a competency, he resided in Trenton, where he was interested in many enterprises. He was a manager of the Trenton Saving Fund Society. He died in 1883. Abner R. Chambers (1881-1900) is a son of Rob- ert Chambers, a farmer and land-owner in the vicinity of Trenton, descended from the family who came from I05 Edinburgh in the ship Henry and Francis, in 1685. Robert Chambers built the first houses in the borough of Chambersburg, and gave the name to that portion of Trenton. Abner Reeder Chambers was bom in Trenton in 1822. Inheriting a considerable portion of his father's estate, he devoted himself to the development of that property and the management of real estate during all his life. He is a trustee of the First Pres- bjrterian Church. Chambers street was so called from his name, and in 1906 an ordinance to change the name to Lincoln avenue failed to pass the Common Council of the city. Thomas Stryker Chambers (1882-1899) fourth son of John S. Chambers, was born in Lawrence town- ship, March 13th, 1852. He was educated in the Trenton Academy, and after finishing his course there, entered the office of the Trenton Gas Light Company in 1870, and served as clerk and secretary until 1898. He was a member of the House of Assembly in 1899. He is a member of the Trenton Battle Monument Asso- ciation and of the Trenton Board of Health. He was treasurer of the First Presbyterian Church from 1885 to 1898, and trustee from 1901. In 1873 ^^ enlisted in Company A, Seventh Regiment, National Guard, was elected Second Lieutenant March 28th, 1878, and appointed Captain and Aide-de-Camp February i8th, 1880, and Lieutenant-Colonel and Assistant Adjutant- General June 30th, 1881. On April 15th, 1899, he was appointed Assistant Adjutant-General of the Di- vision, with the rank of Colonel. In 1898 he entered the army for the war with Spain, as Major in the Fourth New Jersey Infantry, U. S. Volunteers, during io6 which service he was promoted to be Lieutenant-Colo- nel. He resigned his office as director of the Bank by reason of absence from the state on this military duty. He remained with the regiment until the close of the war, when it was mustered out, April 6th, 1899. On Novem- ber 22d, 1899, he was appointed State Bank Examiner, which position he now holds. WiivUAM H. Skirm (1883-1901) was born in Trenton, January 17th, 1841. Was educated at the Trenton Academy, and at an early age became a clerk with Forst & Taylor, wholesale grocers, and subse- quently a manager of the firm of D. P. Forst & Co. He was elected a member of the Common Council of Trenton in 1874, and twice re-elected, serving one year as president. In 1892 he was elected Senator from Mercer county and re-elected in 1895, acting as presi- dent pro tem. in 1898. He was for many years con- nected with the State National Guard, being elected Colonel of the Seventh Regiment in 1890. He was a member of the Trenton Battle Monument Association and a manager of the Trenton Saving Fund Society, for many years treasurer of the First Methodist Epis- copal Church and of the Pennington Seminary, and secretary of the Ocean Grove Camp Meeting Associa- tion. He died October 7, 1905. Elmer Ewing Green (1885- ) son of Caleb Smith Green, grandson of Chief Justice Charles Ewing and nephew of Henry W. Green, Chief Justice and ELMER EWING GREEN I07 Chancellor, was born in Trenton, February 14th, 1850. He was prepared for college in the Trenton Academy, and was graduated from the College of New Jersey in 1870. He studied law in his father's office, and was admitted to the bar in 1873, and a counsellor in 1876. He was a member of the Common Council from 1882 to 1885, a manager of the Trenton Saving Fund Society, and is a trustee of the Theological Seminary at Prince- ton since 1882. He is one of the Judges of the Court of Errors and Appeals, as was his father before him. He became Vice-President of the Bank in 1904. Wii^WAM L. Dayton (1886- 1897) was the son of the Hon. William L. Dayton, United States Senator and Minister to France. He was born in Trenton, April 13th, 1839. He was educated in the Trenton Academy and the College of New Jersey, where he was graduated in 1858. He studied law with his father, but in 1861 became the Assistant Secretary of the United States Legation in Paris. Returning to this country, he was admitted to the bar in 1866. He was secretary to Gov- ernor Ward from 1866 to 1869. He was elected to the Common Council in 1876, and was president in 1879. He was City Solicitor from 1879 to 1881. From 1882 to 1885, he was United States Minister at The Hague. He was appointed a Judge of the Court of Errors and Appeals in 1896. He was one of the founders of Mer- cer Hospital, and first president of the Board of Di- rectors, and a member of the Trenton Battle Monument Association. He was a manager of the Trenton Saving Fund Society, and president of the Board of Trustees of the First Presbyterian Church. He died July 29th, 1897. io8 Henry Woodhuli, Green (1898- ) son of Charles Ewing Green and Mary Livingston Potter, and grandson of Chancellor Henry Woodhull Green, was born at Trenton, N. J., April 30th, 1868. He prepared for college at the Lawrenceville School, and was grad- uated from the College of New Jersey, class 189 1 ; studied law with Vice Chancellor Stevens at Newark, N. J., and took the degree of LL. B. at the New York Law School in 1894, being admitted to the bar of New Jersey as attorney, 1894, and as counsellor, 1897. He is a trustee of Princeton University and chairman of Committee on Library and Apparatus, a trustee of Princeton Theological Seminary, president of the Board of Trustees of the Lawrenceville School of Lawrence- ville, New Jersey, and treasurer of that institution. He is. also secretary and treasurer and one of the directors of the United New Jersey Railroad and Canal Company, a manager of the Trenton Saving Fund Society, director of the Trenton Young Men's Christian Association, Princeton Water Company, and Mercer Hospital of Trenton. Benjamin FislER LEE (1892- ) son of Thomas Lee, a New Jersey member of the Federal House of Rep- resentatives, 1 833- 1 837, and grandson of Francis Lee, who emigrated to America prior to the American Revo- lution, was born in Port Elizabeth, Cumberland county, in 1828; Benjamin F. Lee was educated in the acad- emies at Port Elizabeth and in Bridgeton, and in John Gummere's Classical and Mathematical School, Burling- ton, N. J. He early identified himself with the transportation. interests of the southern section of New Jersey ; in 1863, JOH N A. CAMPBELL I09 he was elected treasurer of the Cape May and Millville Railroad Company, and in 1866 treasurer of the West Jersey Marl and Transportation Company, and was a director of The Bridgeton and Port Norris Railroad. He resigned his position of treasurer of the Cape May and Millville Railroad in 1873, then becoming a director of that corporation. In 1885 Mr. Lee was elected a director of the West Jersey Railroad, and upon the merger of that company into the West Jersey and Seashore Railroad, he became and still is a director of this company ; upon the 2d of November, 1872, Mr. Lee assumed the duties of the Clerk of the New Jersey Supreme Court, being four times re-appointed to that office. By his interests in and as president of The Trent Tile Co. Mr. Lee has been intimately identified with tile manufacture since 1882; among his other business ventures he has been and still is president of the Uni- versal Paper Bag Co. and a director in the Union Mills Paper Manufacturing Co. of New Hope, Pa., and a director in the Standard Fire Insurance Co. of Trenton. Among other public services he has been for some years and is now president of the Board of Managers of The State Home for Feeble Minded Women at Vine- land, president of the New Jersey State Conference of Charities and Correction, and during his last term as Clerk of the Supreme Court superintended the collation, arrangement, filing and indexing of the manuscript rec- ords of that court from 1681 to 1844. John Ai^^xander CampbEli, (1898- ) eighth President, was born in Shushan, New York, January no 31st, 1856. He was graduated from the College of New Jersey with the famous class of 1877, then was some time in business in New York city, came to Trenton in 1880, and with William Burgess established the Inter- national Pottery Company. He is the general manager of the Trenton Potteries Company, president of the Canadian Trenton Potteries Company, Limited, one of the managers of the Trenton Saving Fund Society, and president of the State Board of Tenement House Super- vision. He was made Vice-President of the Bank Jan- uary 9th, 1900, and was elected President in January, 1904. John Story Chambers (1899-1901), great-grand- son of Alexander Chambers heretofore mentioned, was born in Trenton, November 27th, 1822. His mother was a daughter of John Scudder, the director elsewhere mentioned, and after her first husband's death she mar- ried Thomas J. Stryker, also a director. Mr. Chambers was trustee, secretary and treasurer of the Trenton Academy, director of the Merchants' Transportation Co., manager and vice-president of the Trenton Saving Fund Society, and from 1883 director,, and from 1887 to 1889 vice-president of the Mechanics' National Bank. He was secretary, treasurer and general man- ager of the Trenton Gas Light Company from 1856 to 1898 and Commissioner of the Sinking Fund of Trenton for thirty-four years. January 27th, 1899, he was elected director of the Bank, in place of his son, Thomas S. Chambers, who resigned in order to enter the military service of the United States. He was elder, trustee and treasurer of the First Presbyterian Church at the time of his death, February 23d, 1901. iir Edward Shippen McIl,vaine (1900- ) son of Judge William Rodman Mcllvaine and great grandson of Chief Justice Edward Shippen, one of the original stockholders, was born in Ewing township, March 25th, 1843. He was educated in the Trenton Academy and the L,awrenceville School. He was admitted as a soph- omore to the class of 1861 in the College of New Jersey, but discontinued the course on account of ill health. He traveled abroad to improve his health, and returned at the breaking out of the Civil war. He accepted a posi- tion with Captain James F. Armstrong, commanding the U. S. Sloop-of-War San Jacinto, and afterwards with Captain Gustavus H. Scott, commanding U. S. Steamer De SotO'. At the close of the war he spent five years on his plantation in North Carolina. In 1870 he returned to the Mcllvaine homestead in Ewing, where he lived until 1883, when he removed to Trenton. He was made bursar of the Lawrenceville School in 1887, and has been for over twenty years the treasurer of the Session of the First Presbyterian Church of Trenton. Foster C. GriEi^iTh (1901- ) was born in Mil- waukee, Wisconsin, November 5th, 1850, and was brought to Trenton in 1863 by his father, the Rev. Thomas S. Griffith. He is a member of the firm of Murray, Griffith and Messier. Frank S. Katzenbach, Jr. (1902- ) was bom in Trenton, November sth, 1868, prepared for college in the State Model School, and was graduated from the College of New Jersey in 1889. He attended the Col- umbia Law School in 1890 and 1891, studied law in the 112 offices of James Buchanan and Carroll Robbins, and was admitted to the bar in 1892. He was president of the Common Council of Trenton from 1898 to 1900, and Mayor of Trenton from 1902 to 1905. Robert W. Kennedy (1902- ) was bom in Lan- caster county, Pennsylvania, in 1846, He was educated in the public school near his father's farm, in schools in Trenton and Norristown, Pennsylvania, and in the Quaker City Business College, in Philadelphia. In 1866 he became a clerk in the First National Bank of Phila- delphia, and in November of the same year removed to Trenton, and secured a position with the firm of Fish and Green, in their lumber business. Upon the dissolui- tion of that firm in 1877 Mr. Kennedy continued in the employ of Mr. George S. Green until he became a part- ner in the firm of Green and Kennedy, in 1879. After the death of Mr. Green the Kennedy and Dailey Com- pany was incorporated, the name being changed in 1898 to the Robert W. Kennedy Company, under which name the business is now continued. aiTutttu ) BANKING COMPANY ^'^^ "jjMj^jai- J JA-uMj-i uj"i^ j.i J''* (3 'd^:M^^:^M^.: ( aiTutmi^ BANKING COMPANY - />/./// THREE DOLLARS _I. -- '-•^-^'•^T^'g^'^rtJ.-.'T) The Trenton Banking Company. Organization, April 30, 1805. President. Isaac Smith. Directors. Iasac Smith, Ai,sxandbr Chambers, Joseph Bloomexeld, Peter Hunt, John Beatty, Abraham Hunt, Joshua Wright, Jonathan Rhea, Thomas Newbold, Joseph M. Lawrie, James H. Imlay. Cashier. Pearson Hunt. First Clerk. John Neal. Second Clerk. JOSIAH FiTHIAN. Watchmen. Joseph Dougherty, David Wrighter. ii6 The Trenton Banking Company. Organization, January 9, 1907. President. John A. Campbeix. Vice-President. Either Ewing Green. Directors. Joseph H. BruerE, Henry W. GrEEn, Elmer Ewing Green, Edward S. McIevaine, Benjamin F. Lee, Foster C. Grieeith, John A. Campbeei., Frank S. Katzenbach, Jr., Robert W. Kennedy. Counsel. Frank S. Katzenbach, Jr. Cashier. Robert W. Howeel. Paying Teller, Ira Frost. Receiving Teller, C. Herbert Fetter. Note Tetter, V/alter S. Wert. General Ledger Keeper, Hugh H. Hilson. Bookkeeper, Clarence D. Brokaw. General Clerk and Stenographer, 'Prank E. Seaman. Assistant Bookkeeper, Ralph B. Lucas. Corresponding Clerk, Ernest S. Everingham. Asst. Corresponding Clerk, W. Lester Murphy. Messenger, Adarn Scholl. Messenger, James S. Lawrence. 117 Presidents. February 13, 1805 September 11, 1807 February 11, 181 5 June 12, 1826 February 11,1832 February i, 1881 February 25, 1881 January 13, 1904 Isaac Smith, Jonathan Rhea, John Beatty, Thomas L. Woodruiif, Philemon Dickinson, WilHam S. Stryker, Joseph H. Bruere, John A. Campbell, August 29, 1807- February 2, 181 5 April 30, 1826 February 11, 1832- February i, 1881 February 25, 1881 January 13, 1904. Vice-Presidents. January 10, 1900 John A. Campbell, January 13, 1904 Elmer Ewing Green, January 13, 1904. Cashiers. February 13, 1805 Pearson Hunt, November 4, 1828 Joseph Olden Qarke, June 22, 1832 John Titus, Septemiber 30, 1842 Thomas J. Stryker, October 15, 1872 Albert J. Whittaker, February 5, 1886 Austin Snider, January 11, 1905 Robert W. Howell, November, 1828 June 5, 1832 September 30, 1842 September 28, 1872 March 27, 1884 November 24, 1903, 118 INDEX TO BIOGRAPHICAL SKETCHES. Abbott, George 72 Abbott, Joseph, 80 Beatty, John, 63 Beatty, Richard L 75 Bellerjeau, Henry, 74 Bispham, Joseph M., 79 Bloomfield, Joseph, 64 Bodine, Daniel B., loi Bruere, Joseph H., 100 Burroughs, Charles, 83 Cadwalader, Thomas, 88 Campbell, John A., 109 Chambers, Abner R., 104 Chambers, Alexander, ... 65 Chambers, John Story, ... no Chambers, Thos. Stryker,. 105 Clarke, David, go Clarke, Joseph Olden, 82 Clarke, Stephen I., 94 Cook, William G., 96 Dayton, William L,-, 107 Dickinson, Philemon, .... 86 Dickinson, Samuel, '83 Ewing, Charles, 76 Ewing, James, 93 Fish, Benjamin, 93 Gordon, Peter, 70 Grant, Thomas, 88 Green, Caleb S., 98 Green, Charles E., 102 Green, Elmer E., 106 Green, Henry W., 108 Griffith, Poster C, in Gulick, John, 81 Gummere, Barker, 102 Hale, Henry E., 103 Halsted, . William, 80 Harrison, Samuel R., 85 Hart, Josiah, 95 Hart, Nathaniel, 73 Hart, S. Moore, 100 Higbee, Charles, 83 Howell, Henry B., 80 Howell, Philip F., 73 Hunt, Abraham, 65 Hunt, Azariah, 73 Hunt, Peter, 66 Hunt, Westley P., 78 Imlay, James H., 66 Imlay, John, 74 Katzenbach, Frank S., Jr., in Kennedy, Robert W., .... in Lawrie, Joseph M., 67 Lee, Benjamin F., 198 McChesney, Charles G.,. . 97 Mcllvaine, Edward S., in Moore, Jesse, 95 Newbold, Caleb, 71 Newbold, Thomas, 67 Olden, Benjamin, 86 Olden, Charles S., 96 Olden, Job G., loi Parker, Charles, 84 Paxson, Henry, 84 Pearson, Charles L., 104 Potts, John, 72 Redman, Thomas, 79 Rhea, Jonathan, 67 Robeson, David Morris, . . 77 Rossell, Zachariah, 82 Scudder, John, 75 Scudder, Morgan, 95 Shuflf, Aaron O., 86 Skirm, William H., 106 Smith, Benjamin, 70 Smith, Isaac, 68 Smith, William L., 71 Southard, Samuel L., 89 119 120 Sterling, Thomas C, 74 Stevens, Thomas, 82 Steward, Jonathan, 99 Stryker, Samuel S., 97 Stryker, Thomas J., 91 Stryker, William S., 103 Tucker, EUett, 71 Van Cleve, John, 74 Van Syckel, Aaron, 80 Van Syckel, John, 81 Watson, John, 78 Welling, Isaac, 95 Whittaker, Albert J., 99 Wilson, John, 91 Woodruff, Aaron Dickinson, 7a Woodruff, Thomas L-, ... 77 Worth, David, 91 Worth, Josiah S., 92 Wright, Joshua, 69 Wright, Joshua, Jr., 91 Wurts, Alexander 94