The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1883-05-09


THINGS AS HE FINDS THFM.
f THE WE'LL NATIONAL BANK,
The monetary interest to which we
now allude at some length dates its or
ganization to the month of July, 1876.
/ About one year prior to that time a
number of the leading citizens of the city
and vicinity had associated themselves
together and secured charter for the
! Building and Loan Association Savings
Bank, and this institution proved the i'm
mediate predecessor of the Amwell Ma
tional Bank, and when the charter of the
former was surrendered virtually its or
ganizatien was merged into that of the
latter, which was perfected by the cleo
ton of DR.. Samuel Lilly, President
Ashbel Welch, Vice President; W. v.
Cooley, Cashier, and F. w. Van Hart,
Teller. The first Board of d irectors COM
prised the President, Vice President and
Cashier, j. A. Anderson, Richard Nc
Dowell, w. L. Hoppock, II. G. Hooker,
]. Patterson Smith. Hiram Scarborou gh
and W. V. Case.
Changes have occurred either by death
or resignation. After the death Of DR..
Lilly, Mr.. Anderson was chosen to the
Presidency, and when a vacancy in the
Vice Presidency was caused by the death
Of Mr.. WEIGH, Mr.. ]. p. Smith was elect
ed to the position.
The original capital of the Amwell Ma
tional Bank was 100000 ON the 18th of
January, 1879, it was increased to So, 900,
at which amount it has since remained,
plus the surplus and undivided profits,
which now aggregate $ll 900.
From the outset it was plainly apparent
that the Bank was destined to meet with
n generous and hearty support from the
community, and these indications have
most certainly been realized. At the
date of this writing, April 18th, the de-
post account aggregates between $3.50, 900
and $40, 900, while the ordinary monthly
average may be placed at $1,000 The
loans aud discounts may be approximate
ly stated at $125, 900. These skeleton fig
ures admit of some careful thought.
They indicate two salient facts-1st, that
there is one element in the community
that has accumulated surplus, and that
another, and more active element finds
use for this surplus in carrying forward
+ public and private work that rebounds to
the general good. These deposits, too,
show, in measure, the confidence that
/ individuals repose in the bank as safe
custodian of their funds.
While at the bank the other day we
were invited to inspect the massive vault
and the strong chests or safes in which
reposed some thousands of dollars. We
were told as to the construction of the
vault, that no less than thirty. five tons of
iron we've used, that the foundation and
the sides and top were impervious TO
burglarious assaults. We were shown
how perfectly the time lock worked, and
we admired the ingenious construction
of the entire affair, but we could not but
realize thaHthe safeguards, potent MS they
seemed to be, were, after all, of little
consequence as compared TO the higher
type-that found in the probity aud i'll
tegrity of the gentlemen who have the
daily handling of all these thousands, and
in the business Judgment of the gentle.
men who comprise the Board of Direc-
I tors. This Board, now constituted, is as
t follows. The President, Vice President
/ and Cashier and Messrs Hiram Scarbor-
ough, Richard Mcdowell, X. II. Van
/ Horn, Martin Coryell, Cornelius Lake,
! Amos Johnson, A. WEIGH and Warren
A Greene. These names are familiar 10
everybody hereabouts. In it are repre-
scented manufacturing, mercantile and
railway interests, aud the members are
essentially business men-snch men as
! should be entrusted with the control OF
such an enterprise. The Boarl is not,
like many the writer can call to mind
purely ornamental, holding nominal
meetings once month. On the con.
trary, it is working Board. 1t meets
regularly every Friday (Which is dis
count day, and there is always quite q
full attendance. The Bank occupies
pleasant and roomy quarters. When the
Masonic building was being erected the
Bank stipulated to become one of the
tenants IL the banking Office should be
made fire proof, and this was done. The
Directors room is also a cosy apartment
The stock of the Amwell National
Bank is held by eightyone individuals,
nearly all of whom are residents Of this
city or vicinity. The largest holding is
fifty shares, par value S., 600; the smallest
holding is one share. The business
transacted liz with all classes of the PEG
Pile, and the Bank has gained the reputa
ton of being as liberal with its customers
as sound banking principles will admit
Before we close this review there are .
few words Of personal comment we desire
to make. The President, Mr.. Anderson,
is Superintendent of the Belvidere Divis
ion of the Pennsylvania Railway, better
known as the Belvidere Delaware Road
He has been identified with that enter
prise since its inception. Railway mat
tiers have long occupied his time-fol
the past ten or twelve years lie has
filled his present position
position.
The Vice President, Mr.. Smith, il
bookkeeper at the Master Mechanics
shops, concerning which We shall have
occasion elsewhere to write,