The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1883-12-13
Staunton and its Attractions.
IT'S PUBLIC INSTITUTIONS, BANKS, MER-
CHANTS AND MANUFACTURERS.
A REVIEW OF THE CITY AS MADE BY A
VALLEY yIRaINIAN'' REPORTER.

| A REVIEW OF THE CITY AS MADE By
VALLEY yIRaINIAN' REPORTER.
At as early aslay as possible in the montl
Of January. 1884, the VALLEY VIRGINIA.
will publish an edition never equaled D,
any paper in the Valley. The issue il
question will comprise double sheet, .. e.
two sheets in one; the one will be printed
with the usual widelange of reading mat
ter that serves to make the VALLEY VIR
GILMAN so acceptable to the reading
classes in this and other. sections of thu
country in the other sheetwill be foun(
an impartial resume of the leading indus
tries of the city, and one full sheet, 80 col
umns, will be devoted to this purpose.
This s'double'' or extra sheet will form
part and parcel Of the VIRGINIAN upor
the day OF issue, and so reach thousands OF
readers. Thousands of extra copies will
also be printed and circulated, and thus
Stannton's welfare will, we hope and trust
be promoted.
AS specimen .brickn of the tone OF
the articles in this ''double sheet, we
here present one review, relating to the.
NATIONAL VALLEY BANK.
If the writer IS not at fault, the first
chartered bank established in Staunton,
was the Bank of the Valley of Virginia,
organized in the year 1s45. This was, viz
tually, a branch of the same corporation
of that name whose headquarters were at
WINCHESTER. was, in fact, one of several
branches of a powerful corporation. From
the time of its es Establishment until the
war the bank in Staunton commanded the
confidence Of the people and enjoyed q
career Of uninterrupted prosperity. Its
stock was rarely offered for sale; its divi-
dends were large, and all classes in the
community were, to greater OF less ex-
tent, partakers in its prosperity.
1t like many another monetary institu-
ton, became an involuntary sufferer by
the late war. Its assets passed away-how
and wherefore it is needless to attempt to
determine in this connection the result,
however, was liquidation, and the erstwhile
Bank of the Valley of Virginia became
zone of the things that were. =
Soon after the surrender steps were taken
toward the establishment of bank here
under the national banking franchise, and
the result was the organization of the
First n ational Bank Of Staunton in the
fall and winter of '65; we believe it began
business in December, 1865, with paid in
capital of 81 900. Its officers were. Hugh
w. Sheffey, President; VIM. Allan, cash
ier Thomas A. Bledsoe, assistant cashier.
In 1867, M. Harvey Efinger succeeded Mr..
Allan as cashier; the first change in the
presidency was the succession to Mr.. Shelf
fey by Hon. Alexander Fl. Fl. Stuart.
The organization of the First National
served to pave the.way for other banking
facilities. Upon the LIST of January, 1866,
the National Valley Bank sprang into ex-
lstence, also with paid in capital OF
100000 it's President being (ienl. John
Echols q its cashier was Edwin M. Taylor,
formerly q cashier of the old Bank of the
Valley of Virginia), who was subsequently
succeeded by w. c. Eskridge.
Both the First National and the ma
tional Valley" were the recipients of a
prosperous business, but, finally, for causes
unnecessary to recapitulate here, it was
deemed by those most closely concerned
that a consolidation would result effect
lively. This was consummated January
p, 1875, the two banks merg ing their husi-
ness under the title of the National Valley
Bank ,lof which organization Genl. Echols
was chosen President Robert w. Burke,
Vice President, and M. Harvey Ef1inger.
cashik No change in the presidency has
since occurred, though by reason of Genl
Echols' absence in consequence of other
and multifarious responsibilities as one of
the railway magnates of the country, the
actual duties of the presidency now de-
volve upon the Vice President, Mr.. Burke.
But one change in the cashiership has oc-
cured, Mr.. Eflinger being succeeded by
Thos. A. Pledsoe, the present cashier. who,
by the way, has been connected, in one ca
pacity OF another, with banking interests
here since 1854, in which year he entered
the employ of the old Central Bank. Upon
the consolidation, Mr.. Eskridge. former
cashier of the National Valley was
made paying teller Of the new organiza-
ton. The staff now is composed as fol-
lows Genl. Echols, President Mr.. Burke,
Vice President Mr.. Bledsoe, cashier J.
E. Rollins, assistant cashier and general
book keeper Mr.. Eskridge, paying teller
A. i. Kinney, receiving teller r. M. Guy
and Henry A. Walker, book-keepers John
messenger and notary public W. B, Mil
Ter, cashiers clerk
The Board of Directors OF the Bank en-
braces the names of some of che most in
fuential and respected men known to the
community. AS now constituted, it is as
follows Genl. Echols, Mr.. Burke. III. M.
Bell, M. Erskine Miller, Isaac Witt, p.
H. Trout H. j. Lushbaugh, Edward Echols,
j. Fred Eflinger.
1t is board Of really representative
men men who have ut heart the welfare
Of the great monetary interest whose for
tunes they are called upon to direct, and
their efforts are, to say the least, rebound
ing to the welfare of the Bank.
The National Valley Bank has, for its
New Y DIRK correspondents, the National
Park, ? Hanover continental, and
other staunch monetary institutions in
the metropolis. 1t also has its correspond
ents in Boston, Philadelphia, Baltimore,
Washington, Richmond, Alexandria, Nor
folk. Lynehburg and other leading points.
as well as country connection generally.
At Cincinnati it keeps a large account,
say $40, 900 to $50, 900, with the Third Ma
tional and Citizens banks, and it's business
with Louisville is very considerable.
A crude summary Of the salient points
of what would be an official statement.
and yet which outlines the business of the
bank may be briefly given. Its capital is
$500, 900 its surplus is $4,000; its undi-
f.r-r e.