Cleveland daily leader. [volume] ([Cleveland, Ohio]) 1865-1873, 1865-11-10
FINANCIAL & CONTliERCIAL,
THURSDAY EVENING. Nov. q 1915.

THURSDAY EVENING, Nov. 9, 1865.
In local money matters there is no verv
decided change. There is an Improvement
in currency balances, but it is so light that
the market canno be called essentially cas-
Ter, and so far as borrowers are concerned it
is as close as ever. Bankers insist on re-
fusing money to parties seeking new en-
gagements, and they pursue this course in
discriminatory, knowing that to open the
door in one case would be the first step to
certain stringeney in a very short period.
Exchange is in less demand, but the offer
ings are also light, and the market remains
close. Rates are unchanged at par buying
and ! premium selling.
In Cincinnati the money market works
smoothly, there being only a moderate de-
mand for currency, which is met without
inconvenience at SOLO per cent. on call and
1O@15 for commercial paper.
In Chicago money is moderately easy, and
the banks accommodate their customers to
the extent of their wants at 10 per cent
Grain spectators are supplied on the street
at l2@1S per cent.
Gold in New York to-day was without de
cided change, closing at I46s. The customs
demand is large, averaging between $500, 900
and 100000 per day. The Treasury is IN
derstood to be a seller to about the amount
of its receipts. Government bonds are dull
and weak, and a decline of ! al per cent. is
reported to-day.
We have been furnished with some facts
and figures in connection with the history
of the Commercial National Bank of this
city, anterior to the period of conversion to
the national system, which are interesting
both as indicating the progress of the bank
ing business in Cleveland and the material
growth of the city and surrounding country.
The Commercial Branch of the State Bank
of Ohio was organized and commenced bust
ness in November, 1916. with a capital OF
$4,000, and under the contro! OF the follow
ing officers:
Direetors-W. A. Otis, JIM. Woolsey, Jon
athan Gillett, n. C. Winslow, T. P. Handy.
President-W. A. Otis.
Cashier-T. P. Handy.
Under the careful business management
of these gentlemen, the bank early took a
prominent position among the financial in
situations of the State, and increased its
business and usefulness as the city advanced
in population and wealth, the public spirit
of its founders keeping pace with this pro-
gress. At the time of its conversion the
bank had completed few months over nine
teen years, and had during that time, upon
the above stated capital, paid to the stock
holders S634,537.5o. The first dividend was
made May 1, 1876, and was p per cent, and
the last dividend November !, 1865, of IS
per cent. During the nineteen years but one
dividend was passed, and one extra dividend
was declared. The average of the dividends
was over 10 per cent per annum. The last
board of officers was thus constituted:
Eirectors-W. A. Otis, A. Stone, Jr., W, J.
Boardman, Dudley Baldwin, Levi Benedict,
D. P. Eells.
President-W, A. Otis.
Cashier-Dan. P. Eells.
The conversion took place on the 2Sth Of
February last, when the bank became the
Commercial National Bank, with a paid up
capital of $780, 600. The original capital Of
$4,000 was returned to the stockholders,
which added to the dividends paid them,
aggregated the large sum of SSO9,557.5O.-
These figures speak for themselves.
The present officers of the bank are:
Directors-W. A. Otis, A. Stone, Jr., W. J.
Boardman, Dudley baldwin, Levi Benedict,
D. P. Eells.
President-W. A. Otis.
Vice President-D. P. Eells.
Cashier-A. S. Gorham.
Assistant Cashier-E. R. Perkins.
There is very little to be said in relation
to local commervTul HIGtvvr~- Ti--~-I-atiz
very quiet, particularly for Flour and Grain,
the transactions being limited to the few
orders coming forward from the Interior
Prices are well maintained, but there is no
essential firmness to them except for trade
lots. Provisions are steady and unchanged.
Butter is steady, but quiet. Cheese is firm,
with a good demand. Eggs are very scarce
and higher. Highwines are in very light
supply and firm at S2,55. Petroleum Is rath-
er quiet, but steady and firm.
The receipts and shipments at this point
of Produce and Merchandise, during the
t~wenty-four hours ending at Z o'clock this
morning, were as follows: