The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1898-11-03
FIRST NATIONAL BANK.
a SAFE. CONSERVATIVE. REIIA-
Bile INSTITUTION.
nsIoys the coHfa-nes q the Peopie-

n MONG The huzseiai c0noezns q
y S0merset cognfy. the first Ma, {.
tionaI Bank, q S9menet, stands sssi- /;
Is in the lead i Vss the frsr hank !
fug los sfutIon Eegui-fed i,y flle iaEs q
Congress instituted IN this eoBnty, and
wzs organized foT the plrpose y up
pIying Ioug-feli xAnf. There Ezs an
urgent demand fe.r 3 safer aud more
satisfactory ma3iam u trahs1eting
bushes than was afforded hy private
banks. and this aeInand made itself
heard both zf home and abroad among
capitalists having money q invest
i -pezted propositions were made %
Hon. EiSzrG scsli. after he retired
from the on = of Collector % internal
R.yeuae in 1ss5. boxing towards his
bee,ninz president q either private
or xs,ioBal bank, bet il wss net Until
sf.er be had surveyed the field and con
suited Bitb = n8uter d conservative
aud sacesssfll b1siness men and fsrIn-
81 that he decided that there vas an
opening for an enterprise Of This char
seter. He called 10 his azsistzlee his son,
Cieo. R-Seull. Esg- and 70 isis efforts and
well knONn b1sine=s eBterpriss = dee,
psrhag.s greater credit than to any
other for giving Somersei epaniy an
exceptionally Sell-ooudacted bank
sscs gell -kBOzn and Influential ciii-
zeus and bHslHe-= men a. John
r scott. E-q Charles II Fi-ber.
Valentine Hsy, E-q. Michaei Sipe,
james L. Psyl, Es8 George z PAr<-
r, JacS5 ; Picking, William b. = r,
Fred W Bi.s-czeT, William T. Muller
aud other. @ere readily inalc-I - In
vest some u lheir zarplas capital in
the venture.
Application xzs made 10 tlie Comp
fr5ller VI ihs Unlied s-ates for sathar-
its toiustltate the F1rzt National Bsss.
of S3msrsst, sith q capital = * Il
$500. and Immediately after t.se ap-
plieation ras graated TIE back waes OF
gained Bith the following Oh err
Pfesidenf, EIsard Scuu Vice Pfe.i-
dent, Valentine Hay Directors. James
J. P1ga. Caas. Il Fis5ers John T.
E,o.t. Lzrae n Hicks, Geo 4. S-B!i,
". n. Miller, sad Feed " Bies=ek-r
Andres Parker was elected cashier.
GA the sscood day Of September,
Is,s the Firsf National opened IL door
for businsss in = frame bailding GU the
northwest e0raer of the pubic square,
which IL occupied for d period d six
wesks until it, present banking house,
the property Of the bank, was erected.
The first dep1si;cr was the late Doctor
Henry Brubaker aud Il the close Of .
the frs days business the deposits
reached 90. At the end Of ten days
tie deposits were in the neighb0rh0od
Of 5000 zndat the close % the fiscal
year they had reached $4,000.
From then on the deposits have
fi8ctgased between $4,000 aud s23j.-
0Jl The idea Of ne incorPJrstore of
tie bank was % give the people q
6onerset county safe aud convenient
means Of transacting their CONNER
eiai business and from this idea they
have never departed. Daring the Gr-t
yesr sle net earnings were utilized ~ a
nucleus f5r surplus, ia order 10 give
bstter and more secure protection 10
the dep0sit5rs, ani every six months
since the greater portion Of the net
earnings of the bank have been aided
q tie surplus fund, which j. nos sgl,-
OJj. while the undivided profits are
s.. so. This j. remarkable showing
for a country bank, and i the best
means Of convincing depositors that
the First National j. a conservative
aud J idiciOusly managed institution.
That this fact j. appreciated i mani
Tested by the constantly increasing
number Of depositoFs, aud in this con-
nection it should be added, that the
directors and stockholders OF the First
National have made 30 personal efforts
TO secure patronage for the bank, be-
lieying that its reputation f5r doing a
purely safe and reliable business would
attract customers.
The Cashier, Mr. Parker, was
financier Of great ability, aud after act
ing in that capacity for three years he
rendered his resignation in order to ac-
eept the secretsryship of the Washing
ton Liam aud Trust Association, one
Cf the leading and wealthiesi financiai
concerns at the National Capital
Harvey NJ. Berkley, E-q, was offered
the cashiership, which be accepted.
ldr. Bsrkley was educated for an at
torney bat he early in life eyineed
disposition to engage in banking, and
we believe that the people Of Somerset
county, especially those doing business
at the First National will agree with u,
that there j. no more efficient, obliging,
aft able bank cashier in the country nor
one who enjoys 10 a fuller extent the
confidence aud esteem Of the public.
Six months after the organization Of
the First National, Josiah ID. SEank,
then lad OF eighteen summers, was
employed a clerk, aud he developed
such 3 taste for banking and excellent
business capacity that he was shortly
afterwards elected Assistant Cashier. q
position he still h0l Is. Mr. Swank
devotes his entire time 70 the bank aud
IL goes without saying that he l. one Of
the most correct aud accurate ace1unt-
ants In western Pennsylvania. In ad-
dition TO his knowledge OF banking
Mr.. Swank Is a genial gentlemen,
whose department through life has
been a source of pride 20 al who know
him AMI has won him a reputation for
integrity unexcelled.
Ga the first day Of last September
Mr.. Eugene MeKelvey, son Of James
McKelvey, was rendered position as
clerk in the bank, which he promptly
accepted. He gives every promise OF
making an efficient accountant, and
has already won the coed will Of all
the bank patrons
As the volume OF business increased
the Directors decided that their bank
ing rooms were not large enough TO
meet the requirements Of its patrons.
and last spring they added the adjoin-
ing store room to the banks quarters.