Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-05-26
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finding myself very often sick with chlls
and fever and withal very lonesome and
with greatly diminished comforts, deter
mined to look around for another cOmpan.
ion, which found in the person Of Sarah
Ann Smith, the present companion Of my
woes and sOrrOWs. She was born in
GOOchland county, Virginia, June "a, 1906,
and was the daughter Of Captain George
SterlingSmith, Of Madison county, Alabama,
a sterling family and a sterling TOInan as
have always found her to be. We were
united in marriage at her fathers house on
the Path Of March, 1924, by the Rev.
Willie Blcunt Peck, the stationed MethO-
dist minister at HUnts7illej Alabama. After
our marriage, made only two crops on my
farm, which proved to be so sickly. We
suffered so much with chill and fever that I
determined to return to Nashville to my
old homestead, in December, 1926.
After recovering my health, l was elected,
in April, 1928, chief bOOk-keeper in the
United States Branch Bank, at Nashville,
JnO. SOmmeEille was the Cashier and
John Nichol the President. l remained in
said bank about two years at a salary Of
$500 per annUm, when an offer was made
TO me Of the Cashiership Of the bank Of the
State, by the Legislature Of Tennessee, at
salary Of $500, which 1 accepted and gave
a satisfactory bond for faithful performance.
took charge Of the bank in the spring Of
1880.
The bank was in great disrepute by the
bad management Of IFS former officers, and
being underline control Of the Legislature
had nv reports TO make to that body. at
the end Of two years, for which period
was elected, the Legislature reelected me
over Daniel Graham, a strong opponent and
a man well qualified, by large and salts
factory majority. This was a triumph with
which l was much pleased, rs it was a full
endorsement Of the manner in which had
managed the affairs Of the banks
Meanwhile, the charter was granted for
| the Planters Bank Of Tennessee, with a
capital Of S2,OOO,O00, the stock being all
| subscribed and payments made sufficient to
| put the bank into operation. The Board
of Directors unanimously elected me
| Cashier on the 18th of March, 1894, and
Edward B. Littlefeld, President, each at a
| salary Of $1,000 per annUm.
The bank was successfully and probably
conducted until 1887, when the country
was visited with a pecUniary revulsiOn such
| as We have never before or since witnessed
in the United States. 1t produced the sus-
| pension Of all our banks and broke up
| thousands Of our enteTprising people and
was the forerunner Of the bankrupt law,
which remained in force for four TO five
/ years.
During all this time, I was prosperous
/ and happy, when a large commission house
| in Nashville, with a branch Of their bust
ness in New Orleans, was forced by suit in
/ TO bankruptcy with a liability resting On
me for them for over $4,000. The amount
/ of this liability was more than my property
would command, but being young and full
/ OF vitality, l stood up against the tide Of
/ adversely, and in the course Of time sur
/ mounted the pressure, felt myself again
! a free man, anC reiOiced over the success
that many Of my friends believed that 1
would never be able 10 achieve.
l remained in the Planters Bank as
4 Cashier until Sept. 1852, when, 10 the
! great surprise Of the Board Of Directors, l
/ handed them my resignation, to take effect
| the 1st October following, or sooner if the
/ Board could find a suitable man TO I'LL my
place. l was retained until about the 18th
| Of December following, not to my damage
I
| other business arrangements.
! While an officer of the Planters Bank, /
! had the satisfaction to believe that pleased
/ the Board Of Directors; and, as 10 the out
side world, il affords me pleasure to say
that they regretted the step bad taken. 1
had served in the bank about nineteen
years, during which time l never was alb
sent from my post for private recreation
but once as long as ten days--a visit to Bon
Aqua Springs-but several times for few
| DAYS, and frequently on business for the
| bank, from 1S}S to 1913. No discOrdant
feelings ever existed between the President
and myself during the period we served to-
! gether as executive officers, and cultivated
the most friendly relations with all the
subordinate officers Of the bank, many Of
whom still survive.
On the 1st Of November, 1852, partner
| ship agreement commenced between Wes-
ley Wheless and myself, in the private
| banking and brokerage business, under the
| name Of HObsOn & Wheless. Our business
was prosperous and our union as partners
a happy one. The free banking system
passed into a law in February, 1852. We
! availed ourselves Of all the rights and priv
| ileges in that law, and on the LIST day Of
| August, 1853, changed our business to the
! name and style of the Bank Of Nashville,
| with an issue of bank notes Of S5O,OOO. We
prospered beyond our most sanguine eX-
| pectatiOns; purchased ground on College
! street, and erected q banking house, which,
for comfort and convenience, surpassed
| ANYTHING of the kind in the city. This
seemed to increase and give a greater pros
| perity to our business, but in October, 1857,
a general peCuniaTy panic commenced in
| New York, and ran over the country like
fire in dry stUbble. Our Bank fell a vic
tim to its force, and in one week every
bank In the city shared the same fate by
suspension of specie payments. The Bank
had enjoyed areputatlOn and credit that few
houses could have acquired in so short
period. We put the institution into imme-
diate liquidation, as the junior partner had
agreed to unite his future destiny with
Hewitt, Norton Il Co., OF New Orleans,
and take charge of a branch of their house
in Liverpool, England. In a short time
thereafter. the unfortunate civil war broke
out between the North and the South, the
result of which is known to have been dis
astrous to all classes Of business in the
South.
NV partner and son-in-law, Wesley
Wheless, died in Liverpool, En-
gland, on the 3Oth Of April, 1861.
When l received intelligence Of his
death, left home for Liverpool on the 2lst
of April, 1861, and returned to my home on
the 26th Of May, bringing with me my
daughter and children, and her husbands
remains, which are deposited in Mt. Olivet
Cemetery, a monument designating the
place of his burial.
In my hurry to finish the paper, / omitted
to say anything about the war with England,
commencing IN 1872. 1 was then too
Young to become asOldier, and consequent
! iy took no special part in the struggle.