The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1867-09-07

/ Exchange Bank of Fay Il Sherwood.
Messrs. Fay & SHERWOOD, of the Exchange
Bank of this city, having recently fitted up a
beautiful banking room in the new building OF
Mr.. Clancy, on the corner of La Sale and Madi.
son streets. we promised, week or two ago, to
give our readers some account Of their new quar-
ters, as well as of the general business of the
| firm. r
| The Exchange Bank" as most Of our readers
are we'll aware is not new institution in this.
| city. Under the former firm name of f. R. Fay
& Co., and latterly Of Fay & Sherwood, it has
been doing banking business, in rooms in the
second story of Mr.. Nattinger's building, on the
| corner Of Main and La Sale Streets for the last
seven or eight years Attending to their busi-
ness closely and carefully, it has grown upon
their hands, until their quarters in the Nattinger
building became too contracted, and, in seeking
new quarters, it was but characteristic of them
to fix upon the most eligible business corner in
the city.
Their new banking room is on the ground
floor Of the corner building of Mr. Clancy's new
brick block, as we have stated, on the corner of
La Sale and Madison streets. The room is 90
by 20 feet, with IA foot ceiling, and in describ-
ing its interior arrangement, we must necessarily
give some account of the business of the Bank
First we meet, as We enter from La Sale street
a beautifully finished counter, running some 80
feet lengthwise with the room, upon which, as in
banking rooms generally, is a glass screen, di-
viding the outside world from the officers and
their treasure behind But in this screen are
various poIt holes or openings, at which, in bank
ing hours, stand the cashier, paying and receiv-
! ing tellers, &c. Opening in the wall behind
them are two fre-proof vaults, into one of which
is closely fitted large fire and burglar proof safe
| in which the treasure is placed for safe keeping
during the night; in the other vault the books
and papers OF value are placed, also for safety
against burglars and fire.
This is properly the banking department.
Here notes and bills are discounted, here de-
posits are received and paid ont on check here
gold and silver are bought and sold, all kinds of
government bonds and securities and inland and
foreign exchange, embracing exchange on all the
principal cities of this country as well as in
Europe; and here being agents for the Inman
and other lines passage tickets are sold to and
from all the leading ports and cities of England,
Ireland and continental Europe.
i Further along, and divided from the banking
department, is another counter, some % feet in
length, upon which there is no screenA behind
which is the real estate and insurance depart
ment. Here llaving the agency of all the bes;
companies i'll the country you can have any
property insured against loss by fire. water or
other accident; you can have Your life insured.
for term of years or for life, and your bones or
head against being broken or damaged by acci.
dent. Here also loans are made on long time OF,
real estate security, which is indeed the heaviest
part Of the business of this Banbl and here
(Messrs. +. Il 5. owning the only complete set OF
abstract books of La Sale county you can as
certain, in few minutes, the exact state of N,
title to every foot of land in the county They
also do a moderate business as real estate AGENTS
buy and sell land warrants, keep up taxes, &c.
Beyond, and divided by partition from this
last department, and embracing the balance Of
the room, is a handsomely furnished apartment.
called the "private rooui," into which. during
business hours, persons can retire and have a
private "confab' with the proprietors or officers
of the hank, or with friends.
The Exchange is not a bank of issue. and
therefore not "organized" under any state or
national banking law. Messrs. f. Il S. are
strictly private bankers, but having large capital
at their command, being pleasant and accommo-
dating gentlemen, and doing square and
honorable business with all men, it is not strange
that they have prospered and are able to .sbranch
out" until the Exchange Bank has really become
one Of the leading institutions of our city.