Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1865-06-20


Of Davenport will very much regret to learn
that we are about to lose one Of our most
worthy and highly esteemed citizens, IN 'ne
removal Of Austin Corbin. Esq, te the city
Of New York. For several years he has con-
templated moving 70 that city, but It was
not until = few months ago that he hnaliy
decided upon making the change. 10 that
end he has resigned the Presidency OF the
First National Bank, disposed Of his stock
therein, sod his elegant residence on 6th
street, also his househald effects, and 's
winding up his affairs generally preparatory
to taking his Anal departure.
Mr.. Corbin came TO this city about twelve
years ego, from the State Of New aamP-
shire with certain earthly possessions main
y coesisting Of legal education, limited
number Of Law books, change ofraiment,
four hundred dollars in currency, together
with large and well arranged stock Of gen
uine yankee energy and perseverance which
wss probably worth more to him than oil OF
the rest. As member Of the legal profes-
sion he Was successful from the beginning ;
but after few years devoted to that line, ne
entered new field Of labor, and in connec-
ticn with L. A. Macklot, Esq, opened .
banking house, under the style Of nacklot
K Corbin's Bank. This business was his
forte. 1t is matter Of history here as we'll
~ throughout the Northwest that notwith-
standing the most severe financial tests en-
countered during the great crisis Of 1857
(Which sent nins-tsnths Of the banks 10
the country and about the same proportion
Of mercantile concerns whirling to destruc-
ton, the Bank Of Macklot & Corbin, which
was only second in bulk Of business among
some six or seven operating here in those
flush and inflated times, outrode the storm,
almost unconscious Of its existence-ow-
ing solely to perfect management.
Retiring from that 6rm he next took the
lead in opening The First National Bank in
this city, which went into operation two
years ago-of the success Of which we need
not say word Except that it is "all oak
from stem to stern.
In point of financial abi!ity-carelul and
successful management in monetary affairs,
it is but simple justice to Mr.. Corbin to say
that he is justly entitled to his position in
foremost rank As banker he has rep.
utation for shrewdness, foresight and tact
by no means confined to this State, or to
those Of the West. Though sometimes hs
has been the object Of censure on account
Of his rigid rules of business, no man who
entrusted money to his charge ever had the
lssst reason to complain, and surely none
others had any right to. Though his in
vestments have been numerous and exten
sive, ninety mine out of every hundred were
so judciously made and thoroughly guard
ed as to be perfectly available. Though
handling vast amounts Of money for others,
scarcely dollar has ever been lost. OF
few, indeed, can as much be said.
We deem his retirement from business in
this place serious loss to the public, though
il is evident that the superior financial
abilities which he possesses will stand him
in better stead at the metropolis than here
Close application to business, we are happy
to say, has rewarded him handsomely.
He will leave with his interesting family in
the course Of . few days, taking with them
the best wishes Of large circle Of friends
May prosperity attend his efforts whereevel
he may select his future home.