The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-01-01
BANKING RESOURCES
SPLENDID SHOWING BY OUR FINANCIAL INSTITUTIONS
VIII compare FavOrnbly With
ANY Clay IN tho COuUtry-State-
mcnt of the Clearinghouse
Association md BAL
nncra Paid.

During the financial depression OF
the last few years, especially of 1892
and 1898, when the leading business
centres of the country were fenr.
fully demoralized by the stringency
of the money market. caused by a
want of confidence in Investments
of almost every character, Norfolk
was one of the few cities that
weathered the storms
The bankers Of Norfolk and Ports
mouth are long headed people.
| They were prepared for the panic
when 1t came, and after consulta
ton, concluded that they could take
| care OF Norfolk's various interests,
| and while III many other cities Ger.
titled checks had to be used as q
part of the circulating medium, no
such expediency was resorted to
here, and the depositor received
his crisp greenbacks. gold or silver
with the regularity and promptness
of flush times.
This wac the only city in the en-
tire country that had an abundance
OF cash. The reason was evident.
The balance of trade, SO to speak,
was at that time, especially in favor
OF this market. Norfolk banks had
money to lend, the bankers were
men of experience, and their work
at that particularly critical period
was heralded from one end OF this
/ broad land to the other, and was the
| most beneficial indirect advertise
| ment of financial strength Norfolk
has ever received.
The VIRGlNIAN presents. below q
detailed statement of these banks,
and believes that no city in the
South of Norfolk's present popula
ton can make better showing.
Our banking establishments EN-.
brace the Norfolk National Bunk.
organized in 1886. Maj. @. w.
Grandy is president; Col. George
TAFT, vice president; Caldwell Har.
dy, cashier; a. Is. SchwarZkopf, as
slstant cashier.
The City National Bank, estab.
lished in 1892. The officers of this
bank are A. +. Krlse, president; c..
a. Nash, Vice-president, and b. W.
Leigh, cashier.
Tie Citizens Bank, organized in
1867. w. Ii. Peters is president
w. Fl. Doyle, cashier.
The Marine Bank, organized in
1872. Col. Walter II. Taylor is pres.
ident, r. G. Taylor, Jr., cashier.
The Bank of Commerce, Establish.
ed in 1873. The officers are n.
Reaman president, X. b. Elliott
vice.president, Thomas U. Hare
cashier.
The Merchants and Mechanics
Savings Bauk, established in 1851.
President, Col. w. b. Rodgers
cashier, W. II. Wales; assistan,
cashier, r. II. Gordon.
The Savings Bank of Norfolk. in
corporated III 1856. President, Wash
ington Taylor; Cashier, George
Cbamberlaine.
Norfolk Trust Company. Col. W
Is. rogers, president; l.. =. TAYLOR
secretary aud treasurer.
The Norfolk Bank of SAVINGS onf
Trust, organized in 1893. Mai. @
W. Grandy, is president; Caldwell
Hardy, cashier.
Bnrruss, Son 81 Co., a privat,
banking house. with Capt, Nat
Burruss as the ruling spirit.
The private baking house n
John ID. Gordon & Co. has been II
business more than fifty years. The
principals In the house now are
Henry Gordon, son Of the founder
and Capt. w. V. Taylor.
CLEARING HOUSE STATEMENT.
The following figures of The
Clearing House statement run from
1850 to the present time: