The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1883-05-30

IN detail OF all the leading enterprises of
the city it is quite natural that he should
devote considerable space in to-day paper
to review of the
LAlfBFRTVTLLE NATIONAL
BANK,
The second oldest bank in the county.
If we remember rightly the first bank to
be incorporated in the county was the
Hunterdon County Bank, at Pennington,
some time in 1866 Two years later or
in June, 1857, the Lambertville Bank was
incorporated under the State Banking
law, but the organization was not fully
perfected nor was business entered upon
until nearly one year later. The final steps
were taken by the stockholders on the
9th of May, 1858, at which date an cleo
tion of Directors was held, and the follow
ing named gentlemen were chosen Sam l
d. Stryker, James d. Stryker, Thos. b.
Carr, Nelson V, Large, Jacob Skillman,
Chas. A. Skllman, Ingham Coryell, John
G Reading, Liscomb R. Titus, Charles
Moore and John c. Titus. Death has
made sad rayages among this list of
names, and very, very few of the original
board are now living.
The first President elect was the late
Samuel d. Stryker, who retained that
position until his death 10 January, 1868,
when he was succeeded by his brother,
James d. Stryker, the present incumbent.
The first Cashier was Martin l.. Reeve,
who died in June, 1871. He was sue
ceeded in the cashiership by VIM. Crook,
who resigned in January, 1874, since
which Isaiah p Smith has filled the post
The original capital of the Lambertvile
Bank was $4,000 divided into $500
shares, par value of $50 each. The stock
was for the most pait held in this vicinity,
and it was virtually home capital en-
ployed in home enterprise. Working
under its state charter and enjoying the
confidence of its patrons, the old Lam
bertvile Bank deservedly won and wore
financial honors of no mean character,
and it bore an important though not OBJ
trusive part in the early development of
the city. The time came, however, when
it was deemed advisable to surrender the
State charter and to reorganize the insti-
tuition under the National Banking sys-
tenn, and, as a result, application was
made for charter as National Bank
The certificate issued by the Comptroller
of the Currency is dated May, 1865, but
the real business OF the bank, as an in
tegral of the National system, did not be-
gin until the following month-the 14th
of June, the first Board of Directors
chosen under the new organization being
James d. Stryker, VIM. Crook, Charles
Crook, Jacob Skillman, Chas. A. Skill
man, Griffith Williams. Joseph r.. Vert,
Henry Mathews, A. G. Barber, VIM. V.
Cooley and A. II. Holcombe. In the
meantime the capital had been increased
to 800, 900, at which amount it still re-
mains, plus, of course, the surplus and
undivided profits.
The bank stock is now held by about
1870 persons, and this stock, sale OF
which is occasionally made, is worth
from S32 80 to $33-par value 500. Per-
haps two thirds of the stock is held by
residents of this State the remainder is
owned in Pennsylvania and New York
states.
A number of changes have occurred in
the official management OF the bank since
it was organized under the National law.
The present Board of Directors is James
d. Stryker, Chas A. Skilman, Griffith
Williams, Henry Mathews, A. c. Barber,
Joseph Smith, jeremiah Hayhurst, Peter
o. Holcombe, John Finney, J. S. Belts
and Chas. Phillips. The first five named
were members of the original board of the
Lambertville National Bank, while the
first and second named have been identi-
fed with the enterprise ever since the old
Lambertvile Bank was first organized.
Aud right here we may add that Mr..
Skillman, who is Vice President, has also
been Attorney for the bank during all
these years.
We have no means of knowing how
much money the Lambertville National
Bank and its predecessor has made in
times past, nor what it expects to make
in times to come. Even q reporter s
monumental cheek was not equal to the
attempt to gain information upon that
score. This fact, however, is patent to
all. The bank has pursued the even tenor
of its way through good times and bad
it has suffered nothing by burglary nor
+ by fraud its management has been OF
that conservative character that pro
vides against most losses that are recog-
nized as belonging to the ordinary ex.
perience of any and all financial institu-
tions, and SO the history Of the enterprise
would form a poor theme for the modern
romancer. In this connection, however,
we are at liberty to publish the last of
| fetal statement of the bank S business,
made by the Cashier upon the LIST of this
month. A careful perusal of this state
ment will impart detailed information
RESOURCES.
! Loans and discounts S2t43g /;
! L. s. Bonds TO secure circulation 100000 OF
! u s. Bonds ON hand 500 o.
Other stocks, bonds and mortgag 1864 s!
| Due from approved reserve agents 1888 G,
/ Due from other National Banks 1903 II
| Real Estate, furniture, and fixtures $500 on
! Current expenses and taxes paid 1924 81
Premiums paid 9,ib0 OF
Checks and other cash items S21 81
| Bills of other Banks 1858 OF
Fractional paper currency, nickels, and
pennies 95 81
Specie 500 II
Legal-tender notes 10000 OF
Redemption fund with u. s. Treasurer $500 0,
Total s400,070 II
LIABILITIES.
| Capital stock paid In 100000 OF
Surplus fund 10000 o.
Undivided profits s,997 q
| National Bank notes outstanding 10000 OF
Dividends unpaid 81 81
individual deposits subject to cheek 1869 (.
Certified checks DIG IL