The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1884-01-31
NATIONAL VALLEY BANK.

1000 las ADDED TO The Weil-WOn reputation
of the house.
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, vir-
tually, branch of the same corporation
Of that name whose headquarters were at
Winchester was, in fact, one of several
branches of powerful corporation. From
the time of its establishment until the
war the bank in Staunton commanded the
confidence of the people aid enjoyed a
career of uninterrupted prosperity. Its
stock was rarely offered for sale; its divi-
dends We're large, and all classes in the
community We're, to greater or less eX-
tent, partakers in its prosperity.
1t like many another monetary lnstltu-
tion, 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
lone of the things that WERE"
Soon after the surrender steps were taken
toward the establishment Of a bank here
under the national banking franchise. and
the result was the organization OF the
First National Bank of Staunton in the
fall and winter of SO we believe it began
business in December, 1866, with paid in
capital of 100000. Its officers were. Hugh
w. Sheffey, President VIM. Allan. cash
Ter Thomas A. Bledsoe, assistant cashier.
In 1867, M. Harvey Effinger succeeded Mr..
Allan as cashier: the first change in the
presidency was the succession to Mr. Shelf
fey by Hon. Alexander FL. Ell. Stuart.
The organization of the First National
served to pave the way for other banking
facilities. Upon the lst of January, 1866
the National Valley Bank sprang into ex
lstence, also with a paid in capital of
100000. it's President being Genl. John
Echols it's cashier was Edwin NJ. Taylor,
formerly cashier of the old Bank of the
Valley of Virginia), who was subsequently
succeeded by w. G. 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
81, 1875, the two banks merging their bust
ness under the title of the National Valley
Bank, of which organization Genl. Echols
was chosen President; Robert w. Burke.
Vice President, and NJ. Harvey Effinger.
cashier. 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.. Effinger being succeeded by
Thos. A. BledSoe, the present cashier. who,
by the way, has been connected, in one ca
pacity or 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. F. Kinney, receiving teller r. M. Guy
and Henry A. Walker, book-keepers John
G. Scott, discount and collection clerk
messenger and notary public w. B. Mil
Ter. cashiers clerk.
The Board of Directors of the Bank en-
braces the names of some of the most in
f1uential and respected men known to the
community. AS now constituted, it is as
follows Genl. EcholS, Mr.. Burke. H. M.
Bell, M. Erskine Miller, Isaac Witt, P.
Fl. Trout, Ell. J. Lushbaugh, Edward Echols.
J. Fred Etfinger.
1t is a board of really representative
men men who have at 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 it's
Park. ~ Hanover" continental, and
other staunch monetary institutions in
the metropolis. 1t also has it's correspond
ents in Boston, Philadelphia, Baltimore,
Washington, Richmond, Alexandria, n or
folk. Lynchburg and other leading points,
as well as country connections generally
At Cincinnati it keeps 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
100000 its surplus is $4,000; it's undi-
vided profits are $75 ,000-thus, in fact, di-
vested of all technicalities its capital is
$415, 000-not far from half million-a
very respectable capital for a banking in
stitution in an interior town the size of
Staunton.
But it these figures are creditable, what
shall we say of the following Individual
deposits over 5000, 900; government depos-
its about $4,000; loans and discounts
about 100000. These are approximate
figures relative to these items as they ap-
peared upon the bank s books at the time of
our interview, Dec. 18th. last. We had in
tended to reproduce the last official state
ment made by the cashier October last.
but, after all, our purpose would not spec
tally be served by publishing that state
ment IN ertenso. These figures approx
mate very closely they serve to- convey
an idea OF the power welded by the bank.
and to this we may add-this power is
welded for the good of the many as well
by operators in wheat, cattle, -four, iron.
coal, &c. -as,one item, we make mention
the fact that the bank holds accounts
with four large furnaces, one of which has
disbursed through it more than a million
of dollars. i.
But 1t is not necessary that we should
enter into further details relative to the
bank and its business. 1t has thus far
worked out its destiny in amost acceptable
manner; it has promoted public and indi
vldual good its affairs are managed as lib
orally as is consistent with sound banking
principles, and it prospers, as it ought.
DUNSMORE'S BUSINESS COLLEGE.
In writing of the educational advanta-
ges OF Staunton, the VIRG1NIAN has no
disposition to overlook the institute whose
title we have just written. In the great
field OF educational labor it is an active
worker its efforts are so directed as tn
promote the public good and we can saw
from personal observation of the Workings
of the College, and from information de-
rived from entirely disinterested sources.
that Prof. Dunsmore is ANYTHING but
half.hearted instructor. For the past nine
teen years he has been identified with the
school room as a teacher, both in literary
and business schools, and when he came to
Staunton in 1880, he brought with him the
highest testimonials as to his efficiency as |
aiteacher and his character as a gentleman. |
Pr0f. DunSmOre is graduate of the |
Eastman Business College
OF Poughkeepsie, n. Y. If we are rightly |
the first business college that he |
established and conducted was the West |
Virginia Commercial Institute, at Sinks
Grove, w. Va In Monroe county. W. |
Va, he was also teacher in the public |
schools and member of the Board of Ex-
amlners, and the reputation gained by him
in his old home is vouched for by the hear
tieSt commentator from the renresanta