CORNELL UNIVERSITY LIBRARY BUSINESS Cornell University Library HG2613.G341M17 History of the Bank of Gettysburg, 1814- 3 1924 019 270 663 «s» Cornell University Library The original of tiiis book is in tine Cornell University Library. There are no known copyright restrictions in the United States on the use of the text. http://www.archive.org/details/cu31924019270663 O Hi n HISTORY OF THE BANK OF GETTYSBURG 1814-1864 THE GETTYSBURG NATIONAL BANK 1864-1914 OF GETTYSBURG, PENNSYLVANIA Compiled by WILLIAM McSHERRY, LL.D. Published by THE GETTYSBURG NATIONAL BANK Gettysburg, Penna. 1914 i-Q OBTTTSBUKO COHm.BK niMT OBTTTSBUaO, r&. This boek is dedicated to the memory of the Directors of tiie Bank of Gettysburg and the Gettysburg National Bank for their successful and wise administration of the affairs of the Bank, by reason of which it has reached its highest prosperity on this, its Hundredth Birthday. CONTENTS Introduction 9 The Bank of Gettysburg 11 Notes from the Minutes of the Bank 21 The Gettysburg National Bank 45 The Home of the Bank 73 Description of Bank Notes 77 Biographical Sketches 79 Presidents of the Bank 79 Vice Presidents 88 Cashiers 91 Officers 94 Some Former Directors and Present Directors 99 Officers with Time of Service 112 List of Dividends 114 List of Bank Directors 1814-1864 120 List of Bank Directors 1864-1914 123 State of Bank Nov. 21, 1814 124 State of Bank Nov. 21, 1914 125 Conclusion 126 LIST OF ILLUSTRATIONS Frontispiece, Bank House 1914 Presidents of the Bank 16 George Smyser, George Swope, John A. Swope, David Wills Former Directors 24 James Gettys, James McSherry, Thaddeus Stevens, Samuel Lilly, Henry Wirt, James McSherry, Jr., William McPherson Former Directors 32 David Kendlehart, Jacob Resser, Henry Wirt, Jr., Lewis M. Hotter, William McSherry Bank Notes 40 Bank House and Residence 1893 48 Cashiers of the Bank 56 John B, McPherson, T. Duncan Carson, J. Emory Bair, Edward M. Bender Former Officials of the Bank 64 Wm. D. Himes, John H. McClellan, H. S. Benner, Chas. M. McCurdy, John Bruce McPherson Present Board of Directors 72 Thomas G. Neely, William McSherry, C. L. Longsdorf, D. P. McPherson, N. C. Trout, W. H. O'Neal, C. William Beales, C. W. Johnson, Joslah Prickett Directors' Room 80 Present Officials of the Bank 88 H. C. Picking, I. L. Taylor, J. W. Kendlehart, Chas. W. Stock Front of Interior of Bank 96 Rear of Interior of Bank 112 INTRODUCTION. fRIOR to the establishment of the Bank, at Get- tysburg, there was no Bank in Adams County. The County was largely agricultural and the peo- ple were unaccustomed to Banking. York, Chambersburg and Carlisle were the Banking centers for this community. Money was not so plentiful then as now. There were no railroads, telephones or trolleys in those days. Each monied man was the banker for the locality in which he lived. The merchants and manufacturers, as a rule, kept their money in their houses and carried their books of business and their securities and cash home each night from their place of business. In many cases the place of business and the dwelling house were the same. Banks did not pay any interest on deposits. The trans- fer of Bank Notes was rather risky and as a protection, the notes were cut in half and each half sent in a sepa- rate package and when all arrived safely, at their desti- nation, they were fastened together and put in circula- tion. The rates of postage were very high, so a great deal of the money was carried by trusty messengers from place to place as opportunity presented. When the Bank of Gettysburg was opened, each Di- rector was practically the banker for his locality and on the meeting day of the Bank Directors, he brought the deposits from his neighborhood and often took back with him money for his neighbors. The Founders of the Bank of Gettysburg were promi- nent men of good financial standing, who enjoyed the 9 THE GETTYSBURG NATIONAL BANK. confidence of the community. They were also men of good judgment and practical financiers, and under their guidance, the institution which they founded grew in usefulness to the community and to-day it stands among the best financial institutions of the entire country. The policy of the Bank has always been to advance the interest of the community in which it transacts business by loaning money to worthy persons and assisting in building up the industries and developing the business of the people of the county. Its Board of Directors proved their patriotism to the general government and their confidence in the public administration from time to. time by investing in public securities of the State and Nation. Its stock is seldom found upon the market, and many of its present stock- holders are the descendants of the original founders of the Bank. When the stock is offered to the public, it brings more than twice its par value, and is widely sought. Whenever a vacancy occurred in the Board of Direc- tors it was their aim to select as good a member as the one who had vacated his office. At no time in its existence was the Bank in better financial condition than it is to- day. Its officers are attentive to their duties, and ob- serve well the rules of good banking and to them the stockholders are largely indebted for the present success- ful, high character of the institution. In the preparation of this history we desire to give due thanks to the Gettysburg Compiler, Star and Sentinel and especially to Charles M. McCurdy, for the courtesy and information extended in the compilation of the facts herein gathered. 10 THE GETTYSBURG NATIONAL BANK. THE BANK OF GETTYSBURG N the 21st of March, 1813, an Act regulating I Banks was passed by the Legislature of Penn- fsylvania. This Act was vetoed by the Gover- nor, and on the 21st of March, 1814, it was passed over the Governor's veto. It provided that the State be divided into 27 districts for banking purposes. Adams County was to be a district, and might establish one Bank called the Bank of Gettys- burg. Any citizen 21 years of age was at liberty to subscribe one or two shares on the first day ; on the sec- ond day, not more than four shares; on the third day, not more than six shares; on the fourth day, not more than eight shares; on the fifth day, not more than ten shares, and on the sixth day, or any subsequent day, not more than one hundred shares including such as he had subscribed for before the sixth day. The Bank of Gettysburg was to have not more than 7,000 shares, or $350,000 capital. $5.00 per share was to be paid at the time of subscribing, and when 50 or more persons in any of the districts had subscribed not less than half the number of shares allotted to such dis- trict, and the sum of 20 per cent, had been actually paid on the amount subscribed, the commissioners were to report to the Governor and the Governor was by let- ters patent, to create and erect the said subscribers into one body, politic and corporate. The first seven persons named in the letters patent were to give notice previous to opening the books of the time and place appointed to meet in order to organize such corporation, and choose 11 THE GETTYSBURG NATIONAL BANK. by a majority of votes thirteen directors. The directors were to procure certificates for the shares of stock to be signed by the President and countersigned by the Cashier and sealed with the common seal of the corporation. The rate of discount was not to exceed 6 per cent. The cor- poration was not to issue any note of a lower denomina- tion than $5.00. The charter was limited to eleven years from the 1st day of April, 1814. March 21, 1814, the commissioners appointed for re- ceiving subscriptions of stock for the Gettysburg Bank, gave notice that subscriptions would be received for stock on Thursday, the 21st of April, at the following places : Gettysburg, house of Ralph Lashells. Millerstown, house of George McCuUough. Littlestown, house of Jacob Winrott, Oxford, house of George Himes. Abbottstown, house of William Jenkins. Berlin, house of Peter Aughinbaugh. Petersburg, house of Isaac Saddler. New Chester, house of John McCurdy. Hunterstown, house of John Gourly. Menallen Township, house of John Hapke. The share of stock is $50.00 each, $10.00 to be paid on each share at time of subscribing. This notice is signed by: Alexander Cobean William Maxwell James Gettys Michael Newman Walter Smith Robert Hayes Ralph Lashells James H. Miller Jacob Eyster George Smyser Bamhart Gilbert April 30, 1814. Notice was given in the Adams Sentinel that an elec- tion will be held at the Court House in the Borough of Gettysburg on Thursday, the 26th day of May, next, to elect thirteen directors. For each share not exceeding 12 THE GETTYSBURG NATIONAL BANK. two, one vote to be cast, for each share above two, not ex- ceeding 10, one vote ; for each four shares above ten not exceeding 30, one vote; for each 10 shares above 30, not exceeding 50, one vote, but no share or number of shares above 50 shall confer any right of voting. This notice is signed by the first seven named in said charter : Alexander Cobean Thomas Dick James Gettys James Neely George Himes David Newman James McSherry The charter is dated April 29, 1814, and is signed by Simon Snyder, Governor of the Commonwealth of Penn- sylvania. It sets forth that: the following persons sub- scribed for the shares of stock opposite their names : Alexander Cobean 100 shares James Gettys 50 shares George Himes 100 shares James McSherry 100 shares Thomas Dick 50 shares James Neely 50 shares David Newman 100 shares Paul Metzgar 40 shares Christian Wirtz 40 shares John Stotter 20 shares John McGloughlin 6 shares Jacob Eichelberger 20 shares Nicholas Gelwicks 4 shares John Mumma 20 shares William Young 20 shares John Swope 10 shares Michael Slagle 100 shares Samuel Smith 25 shares Anthony Shorb 20 shares Mary Dobbin • • ' • 1^ shares Robert Hayes 50 shares Valentine Fickes 5 shares 13 THE GETTYSBURG NATIONAL BANK. Ralph Lashells 30 shares Samuel Lilly 20 shares James Chamberlain 60 shares Jacob Fahnestock 6 shares Samuel Fahnestock 40 shares John Fox 12 shares Christina Duncan 20 shares James Gettys, guardian 4 shares Mary Chamberlain 10 shares William Maxwell 5 shares Samuel Sloan 100 shares William McClean 10 shares Robert Mcllvain 2 shares William King 6 shares George McKillip 6 shares Henry Epley 6 shares Peter Saunders 6 shares William Braner 6 shares Stewart Davis 6 shares Oliver Scott 6 shares Andrew GriflSn 6 shares Horatio P. Jamison 6 shares Valentine Fohl 6 shares Peter Murrit 6 shares John W. Irvin 6 shares John Cobean 6 shares Joseph Gibbs 6 shares Amos Laurence 6 shares Hugh Hetiierington 6 shares Owen Crotty 4 shares William Garvin 15 shares William Kelly 4 shares Jacob Middlehauff 10 shares Bamhart Gilbert 10 shares Henry Norbeck 10 shares Matthew Longwell 40 shares 14 THE GETTYSBURG NATIONAL BANK. John Stewart 20 shares James Craig 40 shares Alexander Dobbin 100 shares Frederick Keef er 20 shares John McConaughy 20 shares John Agnew 5 shares George Orr 10 shares Nancy Sheakly 10 shares David Foutz 10 shares Peter Wolford 50 shares Alexander Russel 12 shares David Edie 20 shares James Homer 6 shares Jacob Diehl 10 shares James Smith 30 shares Frederick Diehl 50 shares James Gilliland 5 shares John Gilliland 4 shares William McPherson 6 shares William Hochtelen 30 shares Frederick Rupely 4 shares Mary Dobbin 24 shares William McGaughey 6 shares Thomas McKaleb 10 shares Christian Rife 4 shares Thomas Sweeny 20 shares Robert Harper 2 shares John Murphy 20 shares Philip Staub 6 shares Samuel Witherow 18 shares James Duncan 1 share Robert Graham 5 shares William Meredith 3 shares John R. Reed 10 shares Hugh Jackson 2 shares James Douglas . . . . ^^ 10 shares 15 THE GETTYSBURG NATIONAL BANK. Cathierine and Mary Lackey 15 shares John and Henry Sell 24 shares John Scott •. 5 shai Secretary, Donald P. McPherson. Cashier, Edward M. Bender. Discount Clerk, H. C. Picking. Receiving Teller I. L. Taylor. Bookkeeper, J. W. Kendlehart. Clerk, Charles W. Stock. Notary Public, William L. Meals. Janitor, Reuben H. Rupp. 113 THE GETTYSBURG NATIONAL BANK. DIVIDENDS PAID 1814 TO 1914 BANK OF GETTYSBURG 1814, Nov. 7, 4 per cent $ 2416.65 1815, May 1, 41/2 per cent 4085.50 1815, Nov. 6, 41/2 per cent 5933.08 1816, May 6, 414 per cent 6771.57 1816, Nov. 4, 41/2 per cent 7011.39 1817, May 5, 41/2 Per cent 1077.72 1817, Nov. 3, 31/2 per cent 5529.30 1818, May 4, 31/2 per cent 5537.18 1818, Nov. 2, 3 per cent 4780.39 1819, May 3, 3 per cent 4654.59 1819, Nov. 1, 2 per cent 3091.06 1820, May 1, 21/2 per cent 3818.62 1820, Nov. 6, 21/2 per cent 3328.32 1821, May 7, 21/2 per cent 3283.82 1821, Nov. 5, 21/2 per cent 3263.62 1822, May 6, 3 per cent 3901.59 1822, Nov. 4, 3 per cent 3862.59 1823, May 5, 3 per cent 3862.59 1823, Nov. 3, 2^2 per cent 3218.77 1824, Nov. 1, 3 per cent 3859.24 1825, Nov. 1, 3 per cent 3860 . 94 1826, Nov. 7, 3 per cent 3845.94 1827, May 1, 2 per cent 2563.96 1828, May 6, 3 per cent 3758.94 1828, Nov. 1, 2 per cent 2505.96 114 THE GETTYSBURG NATIONAL BANK. 1829, May 5, 2^2 per cent 3132.95 1829, Nov. 3, 2^2 per cent 3132.95 1830, May 4, 2y2 per cent 3132.95 1830, Nov. 2, 2y2 per cent 3132.95 1831, May 3, 3 per cent 3759.54 1831, Nov. 1, 3 per cent 3768.54 1832, May 1, 3 per cent 3768.54 1832, Nov. 6, 3 per cent 3669.99 1833, May 7, 3 per cent 3669.99 1833, Nov. 5, 3 per cent 3669.99 1834, May 6, 2 per cent 2444. 66 1834, Nov. 4, 21^ per cent 3058.32 1835, May 5, 3 per cent 3669.99 1835, Nov. 3, 3 per cent 3669.99 1836, May 3, 3 per cent 3669.99 1836, Nov. 1, 3 per cent 3678.99 1837, May 2, 3 per cent 3678.99 1838, May 1, 4 per cent 4929 . 32 1838, Nov. 6, 3^2 per cent 4314. 15 1839, May 7, 3 per cent 3696.99 1840, Nov. 5, 4 per cent 4953.32 1841, Feb. 2, 3 per cent 3714.99 1841, May 4, 3 per cent 3714.99 1841, Nov. 2, 2 per cent 2476.67 1842, May 3, 2^2 per cent 3095.82 1842, Nov. 1, 21/2 per cent 3095.82 1843, May 1, 2^2 Per cent 3095.82 1843, Nov. 7, 2V2 per cent 3095.82 1844, May 7, 3 per cent 3529.25 1844, Nov. 5, Sub. to State tax 13 per cent., 3 per cent 3233.29 1845, May 6, 3 per cent 3716.19 1845, Nov. 4, 3 per cent 3716. 19 1846, May 5, 3 per cent 3716.19 1846, Nov. 3, 3 per cent 3716.19 1847, May 4, 3 per cent 3716. 19 115 THE GETTYSBURG NATIONAL BANK. 1847, Nov. 7, 3 per cent 3716. 19 1848, May 2, 3 per cent 3716. 19 1848, Nov. 2, 3 per cent 3716. 19 1849, May 2, 3 per cent 3716.19 1849, Nov. 6, 3 per cent 3716.19 1850, May 7, 3 per cent 3716.19 1850, Nov. 5, 3 per cent 3716. 19 1851, May 6, 3 per cent 3716. 19 1851, Nov. 4, 3 per cent 3716.19 1852, May 4, 3 per cent 3716. 19 1852, Nov. 2, 3 per cent 3716.19 1853, May 3, 3 per cent 3716.19 1853, Nov. 1, 3 per cent 3716.19 1854, May 2, 3 per cent 3716. 19 1854, Nov. 7, 3 per cent 3716. 19 1855, May 1, 4 per cent 4954.92 1855, Nov. 6, 4 per cent 4954.92 1856, May 6, 4 per cent 4954.92 1856, Nov. 4, 4 per cent 4954.92 1857, May 5, 4 per cent 4954.92 1857, Nov. 3, 3 per cent 3716. 19 1858, May 4, 4 per cent 5539.40 1858, Nov. 2, 3 per cent 4395.80 1859, May 3, 4 per cent 5806.00 1859, Nov. 1, 4 per cent 5806.00 1860, May 1, 4 per cent 5806.00 1860, Nov. 6, 4 per cent 5806.00 1861, May 7, 4 per cent 5806.00 1861, Nov. 5, 4 per cent 5806.00 1862, May 6, 4 per cent 5806.00 1862, Nov. 4, 4 per cent 5806.00 1863, May 6, 6 per cent 8709.00 1863, Nov. 3, 6 per cent 8709.00 1864, May 3, 8 per cent 11612.00 1864, Nov. 1, 6 per cent 8709.00 Total $1,202,333.00 116 THE GETTYSBURG NATIONAL BANK. GETTYSBURG NATIONAL BANK 1865, May 1, 8 per cent 11612.00 1865, Nov. 7, 10 per cent 14515.00 1866, Jan. 2, 50 per cent 72775.00 1866, May 1, 8 per cent 11612.00 1866, Nov. 6, 7 per cent 10160.50 1867, May 7, 5 per cent 7257.50 1867, Nov. 5, 5 per cent 7257.50 1868, May 5, 6 per cent 8709.00 1868, Nov. 3, 6 per cent 8709.00 1869, May 4, 6 per cent 8709.00 1869, Nov. 2, 6 per cent 8709.00 1870, May 3, 6 per cent 8709.00 1870, Nov. 1, 6 per cent 8709.00 1871, May 2, 6 per cent 8709.00 1871, Nov. 7, 6 per cent 8709.00 1872, May 7, 6 per cent 8709.00 1872, Nov. 5, 6 per cent 8709.00 1873, May 6, 6 per cent 8709.00 1873, Nov. 4, 6 per cent 8709.00 1874, May 5, 6 per cent 8709.00 1874, Nov. 3, 6 per cent 8709.00 1875, May 4, 6 per cent 8709.00 1875, Nov. 9, 6 per cent 8709.00 1876, May 2, 6 per cent 8709.00 1876, Nov. 14, 6 per cent 8709.00 1877, May 8, 6 per cent 8709 . 00 1877, Nov. 13, 5 per cent 7257.50 1878, May 13, 4 per cent 5806.00 1878, Nov, 11, 4 per cent 5806.00 1879, May 12, 4 per cent 5806.00 1879, Nov. 11, 4 per cent 580ti.00 1880, May 10, 4 per cent 5806.00 1880, Nov. 9, 4 per cent 5S06.00 1881, May 9, 5 per cent 7257.50 117 THE GETTYSBURG NATIONAL BANK. 1881, Nov. 7, 5 per cent 7257.50 1882, May 8, 5 per cent 7257.50 1882, Nov. 13, 5 per cent 7257.50 1883, May 3, 5 per cent 7257.50 1883, Nov. 12, 6 per cent 8709.00 1884, May 12, 6 per cent 8709.00 1884, Nov. 10, 5 per cent 7257.50 1885, May 4, 5 per cent 7257.50 1885, Nov. 9, 5 per cent 7257.50 1886, May 10, 5 per cent 7257.50 1886, Nov. 8, 5 per cent 7257.50 1887, May 9, 5 per cent 7257.50 1887, Nov. 7, 5 per cent 7257.50 1888, May 7, 5 per cent 7257.50 1888, Nov. 12, 5 per cent 7257.50 1889, May 9, 5 per cent 7257.50 1889, Nov. 7, 5 per cent 7257.50 1890, May 12, 5 per cent 7257.50 1890, Nov. 10, 5 per cent 7257.50 1891, May 11, 5 per cent 7257.50 1891, Nov. 9, 5 per cent 7257.50 1892, May 18, 5 per cent 7257.50 1892, Nov. 7, 5 per cent 7257.50 1893, May 8, 5 per cent 7257.50 1893, Nov. 13, 5 per cent 7257. 50 1894, May 9, 5 per cent 7257.50 1894, Nov. 9, 5 per cent 7257.50 1895, May 7, 5 per cent 7257.50 1895, Nov. 4, 4 per cent 5806.00 1896, May 5, 4 per cent 5806.00 1896, Nov. 2, 4 per cent 5806 . 00 1897, May 4, 4 per cent , 5806.00 1897, Nov. 1, 4 per cent 5806.00 1898, May 3, 4 per cent 5806.00 1898, Nov. 1, 4 per cent 5806.00 1899, May 2, 4 per cent 5806.00 118 THE GETTYSBURG NATIONAL BANK. 1899, Nov. 6, 4 per cent 5806.00 1900, May 1, 4 per cent 5806.00 1900, Nov. 5, 4 per cent 5806.00 1901, May 7, 4 per cent 5806. 00 1901, Nov. 4, 4 per cent 5806.00 1902, May 6, 4 per cent 5806.00 1902, Nov. 3, 4 per cent 5806.00 1903, May 5, 4 per cent 5806.00 1903, Nov. 2, 4 per cent 5806.00 1904, May 3, 4 per cent 5806.00 1904, Nov. 1, 4 per cent 5806.00 1905, May 2, 4 per cent 5806.00 1905, Nov. 6, 4 per cent 5806.00 1906, May 1, 4 per cent 5806.00 1906, Nov. 5, 4 per cent 5806.00 1907, May 4, 5 per cent 7257.50 1907, Nov. 4, 5 per cent 7257.50 1908, May 5, 5 per cent 7257.50 1908, Nov. 2, 5 per cent 7257.50 1909, May 4, 5 per cent 7257.50 1909, Nov. 1, 5 per cent 7257.50 1910, May 3, 5 per cent 7257.50 1910, Nov. 1, 5 per cent 7257.50 1911, May 2, 5 per cent 7257.50 1911, Nov. 6, 5 per cent 7257.50 1912, May 7, 5 per cent 7257.50 1912, Nov. 3, 5 per cent 7257.50 1913, May 6, 5 per cent 7257.50 1913, Nov. 3, 5 per cent 7257.50 1914, May 6, 5 per cent 7257.50 Total dividends .$733,007.50 119 THE GETTYSBURG NATIONAL BANK. LIST OF DIRECTORS BANK OF GETTYSBURG 1814—1864 Baker, Solomon, 1833. Baugher, Isaac, 1829-30. Bittinger, Henry, 1831-38. Cobean, Alexander, 1814-19. Carl, Joseph, 1839-41. Coale, James M., 1841-53. Dixon, John, 1814-20. Davis, Dr. E., 1828-30. Douglass, William, 1843-45, 1848-50, 1854-56, 1863. Eyster, Jacob, 1814-18. Fahnestock, Samuel, 1827-31. Forney, William, 1861. Gettys, James, 1814-15. Gilbert, Bamhart, 1814-18. Gardner, John, 1843-44. Gardner, William, 1836-42, 1845-47, 1849-51, 1853-55. Hayes, Robert, 1814-15. Himes, George, 1820-39, 1841-42, 1846. Himes, William D., 1843-45, 1847-49, 1851-53, 1857-59, 1863. Hughes, Daniel, 1843. Himes, Alexander S., 1850, 1854-57, 1860-62. Homer, David, 1855. Houck, John, 1850-52. Jones, John, 1862-63. 120 THE GETTYSBUEG NATIONAL BANK. Kerr, John, 1819-22, 1824-34. Kerr, George, 1820-24. Kerr, J. J., 1846-48, 1856-58. Kendlehart, David, 1852-54, 1857-59. Lashells, Kalph, 1814-18. Lilly, Samuel, 1820-24. Lohr, Martin, 1830-32. Longwell, John K., 1843-44, 1846-48, 1853-55, 1859-61. McGinley, Amos, 1814-22. McConaughy, John, 1815-16, 1818-23. Murphy, John, 1815-19. McSherry, James, 1819-23, 1827, 1832-33. McPherson, William, 1819, 1821-24. Motter, Lewis, 1824-36. McKaleb, John, 1825, 1835, 1840-42. McClellan, W., 1825-42. Miller, Thomas C, 1826-27. Marshall, Andrew, 1835-39. Myers, Henry, 1835-38, 1840-41, 1843-45, 1848-51, 1856- 63. Motter, Joshua, 1837-42, 1846-48, 1852-54, 1858-60. McClellan, Geo. W., 1843-45, 1847-49, 1851-54, 1856-57, 1860-62. McSherry, James, Jr., 1842-47. McSherry, R. W., 1845-46. McSherry, William, 1843-45, 1848-49, 1851-52, 1855-57, 1860-61. Motter, L. M., 1849-51, 1855-57, 1861-63. Metzgar, Geo., 1849-52, 1860-61. Miller, Samuel, 1850-51. Markle, Levi, 1853. Myers, Henry J., 1858. Neman, David, 1824-42. Nunemaker, Philip, 1842. Reed, Patrick, 1814-23. Russell, Alexander, 1816-19. 121 THE GETTYSBURG NATIONAL BANK. Robinette, James, 1821-25. Reese, Jacob, 1849-52, 1856-58, 1862-63. Ross, William, 1851-52. Resser, Jacob, 1859-61. Slagle, Michael, 1814-15, 1818-19, 1825-29. Smith, Walter, 1814-18. Smyth, Samuel, 1817. Smyser, George, 1819-36, 1839-40. Smith, Robert, 1820, 1824-48. Sloan, Samuel, 1820-25, Stevens, Thaddeus, 1824-32. Swope, George, 1834-35, 1837, 1845-47, 1849-63. Spalding, Henry, 1834-42, 1844-46. Stewart, William, 1842. Stewart, Dr. W. R., 1843-44, 1846-48, 1852-54, 1856-58. Shriver, Henry, 1843-45, 1848-50. Shorb, J. A., 1847-54. Swope, John A., 1852-54. Samson, Marcus, 1857-59, 1862-63. Shorb, E. F., 1858-60, 1862-63. Sloan, J. W., 1862-63. Thompson, J. A., 1826-28. Troxel, Jac, 1831-32. Will, Andrew, 1814-23. Wierman, William, 1814-16. Wirt, Christian, 1823-25. Wirt, Henry, 1828-31, 1843-45, 1849-51, 1854-59, 1861-63. Wortz, Jacob, 1833-42. Wirt, Jacob, 1832-33, 1835-42, 1846-48. Wills, David, 1854-56, 1858-60. Wirt, Henry, Jr., 1857-63. Waugh, John, 1859-61. Wills, Jas. J., 1861-63. Young, William, 1826-27, 1861-63. Young, Jacob, 1843-45, 1849-51, 1855-57. Young, George, 1846-48, 1852-54, 1858-60. 122 THE GETTYSBURG NATIONAL BANK. THE GETTYSBURG NATIONAL BANK 1864-1914 Bigham, H. P., 1892-1913. Bair, J. E., 1896-1902. Beales, C. William, 1911-14. Douglass, William, 1864. Himes, W. D., 1864-95. Jones, John, 1864. Johnson, C. W., 1913-14. Kendlehart, David, 1865-91. Longsdorf, C. L., 1903-14. McPherson, Donald P., 1904-14. Myers, H. J., 1864. McPherson, John B., 1895-1903. Motter, L. M., 1864-67, 1876-1903. McSherry, William, 1865-89. Motter, Joshua, 1868-75. McSherry, William, Jr., 1890-1914. Neely, T. G., 1890-1914. O'Neal, W. H., 1908-14. Picking, H. C., 1905-07. Prickett, Josiah, 1914. Reese, Jacob, 1864. Reeser, Jacob, 1875-1904. Swope, George, 1864-79. Shorb, E. F., 1864. Samson, Marcus, 1864-69. Sloan, J. W., 1864. Slagle, Edgar, 1878-85, 1887-89. Swope, J. A., 1878-1910. Trout, Dr. N. C., 1904-14. Wills, J. J., 1864-67. Wirt, Henry, 1864-77, 1880-90. Wills, David, 1868-94. Waugh, John, 1870-74. Wirt, R. M., 1891-1912. Young, William, 1864-77. 123 THE GETTYSBURG NATIONAL BANK. STATE OF THE BANK OF GETTYSBURG NOVEMBER 21, 1814 RESOURCES Specie, silver, $31829.83 Specie, gold 5358.23 $ 37188.06 Bills discounted, 153923 . 11 Foreign paper, 10238 . 00 Frederick Town Branch Bank 2737 . 00 Mechanics Bank of Philadelphia, 1616 . 22 Chambersburg Bank, 1762 . 98 Expenses 2218.38 $209,683.75 LIABILITIES By capital, $ 81384.68 Discounts received, 301 . 17 Dividends unpaid 960 . 99 Surplus, 1251.83 Bank notes issued $116000.00 On hand, 000000.00 116000.00 York Bank, 1770.40 Commercial and Fanners' Bank, 888 . 93 Individual deposits, 7125.75 $209,683.75 124 THE GETTYSBURG NATIONAL BANK. STATE OF THE GETTYSBURG NATIONAL BANK, NOVEMBER 21, 1914 RESOURCES Currency, Gold, Silver and Cash $ 48363 . 67 Due from other National and State Banks.. 79253.57 Federal Reserve Bank 10000 . 00 Treas. U. S. 5 per cent. Redemption Fund. . 7250.00 Real Estate, Banking House 46500 . 00 Furniture and Fixtures 8500 . 00 Stocks, Bonds and Mortgages 364056.97 Bills 663757.83 U. S. Bonds, (2 per cent.) 145000.00 Special Interest 971 . 34 Expenses 319.02 Total $1,373,972.40 LIABILITIES Capital Stock $ 145150.00 Circulation 144000.00 Surplus 110000.00 Profit and Loss 39874.93 Discounts, Interest and Exchange 4740.85 Dividends Unpaid 455 . 00 Due to National and State Banks 4696.02 Special Deposits 749075.92 Transient Deposits 175979.68 Total $1,373,972.40 125 THE GETTYSBURG NATIONAL BANK. CONCLUSION 3T must be a source of congratulation and satisfac- tion to the stockholders and those interested in the welfare of the Bank to learn of its wonderful and its splendid financial standing of to-day. A progress during the first century of its existence, comparison of the statements of November 21, 1814, and November 21, 1914, will show in figures the great in- crease of business and the present condition of the Bank. The capital stock of the Bank represents the amount paid in by its stockholders and the amount for which they are liable to depositors. The circulation of a Na- tional Bank represents the amount of notes which the Bank purchased from the Government. The surplus shows what the Bank has earned and set aside over ex- penses, and is also a source of protection to depositors. Profit and loss represent the earnings of the Bank over and beyond the surplus, and this item varies from time to time by being increased or decreased. It also is a source of protection to depositors and is the fund from which the Bank first deducts losses and expenses. Dis- counts, interest and exchange represent the income, which the Bank has from discounting notes, interest on its investments and exchange between financial institu- tions. . Dividends unpaid means that all dividend checks have not been presented for payment. Special deposits are a modern invention and certificates bearing interest called time certificates are given to the depositors who can not withdraw the fund without forfeiling the accumulated 126 THE GETTYSBURG NATIONAL BANK. interest if the certificate is cashed before the interest period. Transient deposits represent the amount due the parties who have left their money in Bank, subject to check, and they can be withdrawn without notice on de- mand. They usually bear no interest. The amount due to Banks arises from one Bank paying the checks drawn on another, and semi-monthly statements and settlements are made between the Banks. Bills represent ordinarily commercial paper which the Bank has discounted and holds as an asset. These notes are usually secured by collateral. The items, stock, bonds and mortgages rep- resent the investment of the Bank in those securities. The real estate in the statement of this Bank represents the value placed upon the new bank building and prop- erty. The U. S. 2 per cent, bonds are held as security for the circulation notes of the Bank. With this informa- tion a comparison of the statements of 1814 and 1914 will be more clearly understood. It must be remembered that the statement of Nov. 21, 1814, was made just 6 months after the Bank had been started. The total credits of the Bank on that day were $209,683.75. This represents the amount of business. The same item on November 21, 1914, was $1,373,972.40, showing an increase of over 600 per cent. The capital stock grew from $81,384.68 to $145,150 and its surplus from $1,251.83 to over $150,000, while the individual de- posits increased from $7,125.75 to $175,979.68 with an additional special deposit account of $750,000. The total amount of earnings in the past century over all expenses is more than $890,008.51. CONDITION OF THE BANK TO-DAY The capital stock is $145,150. This is divided among 175 stockholders of whom 102 are women. This latter fact in itself is the best proof of the confidence of busi- ness men in the standing of the Bank. They purchase 127 THE GETTYSBURG NATIONAL BANK. the stock of this Institution as the safest and best invest- ment for their wives and their families, and some of the stock has descended through the century from one mem- ber of the family to another. The Bank has never failed to declare at least one dividend a year. The market price of the stock is more than 2 1-5 times the par value of the stock, which is $50 per share. The surplus, undivided profits and assets of the Bank make its stock one of the safest investments known to financiers. Frequent bank statements are made to the Comptroller of the Currency at Washington under oath of the Cashier and certified to by three of the directors of the Bank showing the actual condition at the time. The Board of Directors is composed of honorable, intelligent and capa- ble business men who faithfully look after the interest of the stockholders of the Institution. They are ably aided by the Cashier and the other employees of the Bank. Courtesy, secrecy, honesty, promptness and fidelity on the part of the employees has been and still is the policy of all connected with the Bank. The Bank has every modem facility for the expediting of business correctly and promptly for its clients. It is grateful for the past patronage of the community and solicits a continuance of the same. The interests of its clients are carefully guarded and cared for. The same policy that has brought the Bank through the past cen- tury to its present high standing will be continued by the present Board of Directors and its officers and their suc- cessors. With the hope and belief that the next century will still see the Gettysburg National Bank holding its high place among financial Institutions, we close this History. 128