Arkansas true Democrat., 1857-11-17
An ExCeptional ank

The New York correspondent of the Charles. ton Courier gives the following interesting ac. count ot ,he New York Chemical Bank:
 Everybody ls writing the history and praises oi the oId Chemical Bank the only bank in the metropolis that d.d not suspend specie payment, either in 1857 or in 1857 The origin. growth | and present standing of this institution are pe- culiar.
 h 1923 the Legislature passed and act incor- porating " The New York Chemical Manufac- turing company" for the purpose of manufac- turing blue vItriol, alum oil of yitriol, aauafor- tls nitric acid, muriatic acid, alcohol tartar eme- tic, refined camphor, saltpetre, borax, copparas, corrosive submate calomel, and other drugs, medicines paints and dyers articles" With this object the company was started Tn about a year they changed their views on the subject of chemestry, and came to the conclusion that mo- ney was the best thing to manufacture.
 On the lst of April, 1924, therefore, the I,er lslature amended their charter, and gave them the power to carry on the business of banking with S3OOOOO capital, and pretty liberal proyi- Sions, but stipulated that "b blue vitriol,' etc., should still be attended to.
 bank with the title of "The Chemical Bank" was organized under the authority of this amendmcnt which authorized them to continue twenty nine years. The Chemical Bank con- tinucd specie payment through the financial cam pagn of 1887. In February, 1914, just before its charter expired it filed its articles of associa- ton, and went into operation free bank, with a capital of $3OO,OOO. It is to continue until 1893.
 John Mason, who amassed fortune by his tailoring establishment, was the original founder ot both the chemical manufacturing works and 10 ph ina1 nlarly successful in themselves but the company had largely invested in land where the establish ment was situated, at the foot Thr:v-Tlird street, North River, which became immensely valuable This place was the terminus of a five mile drive in olden times, over a popular road and was thus famous also for its convivial asso- citations.
 On the decease of old J John Mason, Isaac Jones became President of the Chemical Bank and John D. Jones Cashier The property of Ma son was immense. The Messrs Jones were his law, and we believe they became the exe- cutors of his will, and the holders, directly or indirectly, of his large estate. At his death. Mir. Mason made will tavoring the Jones branch of the family, and cutting off son, who had mar red Emma w heatlev, an actress. The will was contested, on the ground of undue influence hay- Ing been brought to bear on the testator, and the estate remained long years in court Finally. the claims of the excluded son were recognized. and the amount due by the estate was promptly forth coming.
 The undisurbed deposit, for years, of the pro- ceeds of this large estate, in the Chemical Bank. combined with the unusual care and prudence of the Messrs. Jones, has probably contributed much to the large surplus of that bank, (nearlv double its capital of $3O0OOO,) and to it's present proud position as the only specie paying bank in the metropolis The bank was formerly the de- postory of the State funds for the payment of a portion of interest money on its bonds John L. Jones has succeeded to the Presidency
 The present stockholders of the Chemical Bank do not number probably over fifteen. The Directors are seven believe, and hold most of the stock, and whenever any of their stockhold- CTS die, and the shares are sold to settle up the estates, they buy them up at any price. The Chemical Bank is regarded with envy by the other banks; it is called close institution l, and other opprobious names; yet it commands the respect of them all for the granite irmness with which 1t has stood the pressure of all times and crises, and the fearless determination with which 1t awaits the the issues of the future.