Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-03-14
The Mechanics National Bank.


To write OF the banking interests of a
city like Nashville is no easy task, es-
pecially if the writer is anxious to do his
theme justice. Considered separately and
in the aggregate the banks WELD an i'm
mense power, command great influence and
advance or retard, by their action, such
schemes as promote individual or general
welfare, and in this exhibit of our banks
we have aimed to confine ourself to facts,
infinitely preferring that the thousands of
readers of to-day's UNION AND AMERICAN
should draw their own deductions.
The Mechanics National Bank, as one
Of the cOnServatOTs Of the mOnied interests
Of the community, calls for more OF less
detailed mention. Il is the most recently
established Of our National Banks, and il
has, although in operation but a short
time, already won to itself a business that
speaks louder than words Of the confidence
repOsed in it by the business community.
1t was organized in November last, with
paid up capital of 100000, the stock being
almost wholly held here. Upon its organ
izatiOn Mr.. 3. f. Wilson was elected Pres
ident and Mr., W. &. Butterfeld Cashier,
and, possession being taken of the we'll
known banking building, No. IS North
College street, the Mechanics National
threw open its doors TO the community.
To say that the business attracted and
transacted has been far in advance Of the
expectations Of either officials or stock
holders, would certainly be "drawing It
mildly" The bank has been the recipient
Of a fine line Of deposits, averaging about
one hundred and twenty-five thousand dol
lars, while its loan and discount and ex-
change business has been propOrtionately
large. 1t incOTpOTatOrs realized the neces-
sity Of additional banking facilities in the
city, and the results Of the past few months
have certainly justified their action.
The mechanics F" is admirable located
and its offices afford every required facili-
ty for doing business. 1t is supplied with
two very fine proof vaults, and also boasts
possession Of one ofthe finest burglar proof
safes in the country.
The Board OF Directors of the "Mechan-
les - comprises The following gentlemen:
E. W. Cole, President Nashville, Chatta-
nOOga and st. Louis Railway; Jno. Lums-
den, President State Insurance COMPANY,
VIM. StOckell, Chief Fire Department,
Louis Morley, of J. & L. Whorley, whole
sale tobacco dealers, Henry Metz, Of II.
Metz * Co, wholesale clOthiers, A. E. Burr,
Nashville Cotton Compress, S. l.. Demo
vile, druggist, W. III. Duncan, Of W. n.
Duncan * Co., Brokers, and B. T. Wilson.
Both the President and Cashier have had
extended experience in banking, Mr.. Will
son, who has lived here since 1869 or 1870,
having been President of the Mechanics
Bank, private institution, whose business
was virtually merged into that Of the
Mechanics National; Mr.. Butterfeld was
with the FirSt National for about ten years,
for the last three years having been its
Cashier. The every day management of
affairs is Of course with these gentlemen.
In conclusion we can congratulate the
officers Of the Mechanics National upon
having built up so large a business as they
have ia so short a time, and we can cordial
ly extend the wish that as the months and
yaaJs pass its sphere Of usefulness will con-
tinue enlaEging.