The Philipsburg mail., 1899-08-11

institution seems incredible. Under the
state charter the operations Of the bank
continued for thirty-two and half
years, during which time cash divi-
dends were paid to shareholders aggre-
eating $472. so per share, or an average
of 144 per cent. per annum, and at the
close of that period the bank paid $4OO
per share in liquidation, making a re-
turn for the thirty.two and half years
of % and $40 per cent per annum, be-
sides returning the original investment.
During the nine and half years of its
career as national bank, notwithstand-
ing the period includes the most trying
times the banking business of the coun.
try has seen, the dividends aggregated
over 7 per cent. per annum. The
total amount of cash dividends
paid by this institution to its
shareholders during the fOrty-twO years
of its existence amounts to $54O 80 per
share, or $3, 7O7, 800, in addition to a
stock dividend of $500 per share, paid
January 1, 1870 making the aggregate
amount paid in dividends S5.201 300. An
investment Of 800 in the stock paid in
at the rate of ~ so per month in 1857
$3.50 and 1860, has returned to the
shareholder in cash $40 80, and he
now has four shares of stock in the
national bank, valued at 81 900, making
a total of 81, $40 80, or a return on the
original investment of over 36 per cent.
per annum on his investment.
/. The record of service of those con
nected with the management of the
bank has been quite as remarkable as
the dividends paid by the institution.
The first president, Marshall Brother
ton, resigned in November 1857, and
was succeeded by Felix Coste, father of
Paul F. Coste, the attorney Mr. Coste
served uninterruptedly until January,
1874 when he was succeeded by Henry
S. Reed, who retired after one year of
service c. b. Burnham was elected to
fill the vacanc and served as president
until April 1888, when he resigned, and
the present incumbent, w. II. ThOmp-
son, was elected,
/ he first secretary and treasurer was
Mr.. P. A. Ladue, who was elected in
March, 1857, and was succeeded on Jan
uary 20, 1869, by Mr.. R. S. Whitney,
who died April "a, 1854 Mr.. Whitney S
successor was Charles Enslin, who was
elected April 20, 1864, and served until
his death, in January, 1877. The va
cancy caused by the death of Mr. Enslin
was filled by the election of J. G. Van
Blarcom on February 3, 1877. Mr.. Van
Blarcom entered the bank July 20, 1870,
twenty-nine years ago. He was head
bookkeeper of the institution several
years ard then filled the office of cashier
for twenty-five years, or until the an
nual election last January, when he was
elected to the Office Of vice president,
being succeeded as cashier by B. F. Ed
wards, who had served as assistant
cashier since January 13, 1892. Mr..
Edwards was in the directory last year,
filling position held by his father, the
late General A. G. Edwards, for several
years in the COS. During one period of
twelve years, from 1878 until 1890, there
was no change in the personnel of the
board of directors.
OF the present board of directors, S.
M. Dodd is the senior member He is
now serving his fortieth year as di-
rector, having been elected to that posi-
ton in November, 1859 The next in
length of service is ex-Mayor Nathan
Cole, who was elected a director in No
vember 1862, and has served continu-
Ously from that date to the present
time. Other members of the board
whose length of service is noticeable
are Messrs. James w. Bell and w. II.
Thompson, who were elected directors
January :, 1878, and have served in that
capacity for over twenty one years.
Of the sos original shareholders in
this bank only four have continued to
hold their stock during all of the
changes for forty-twO years. These are
James M. Carpenter, DR.. H. j. Nickel
lOps, Miss Ellen J. Mckee and D. NJ
Houser, the last-named being also the
Oldest lin length of patronage of the
banks depositors, having opened his
account with the St. Louis Building and
Savings Association in the fall Of 1857,
and continuing without internission to
this day. Miss McKee's stock was held
in trust for her by her father as long as
she was minor.
In August 1882 the board decided to
bond the employees Of the bank at the
banks expense. Each employe had been
required to furnish security at his own
expense before. All employees, as we'll as
the directors, now take their noon meal
in the banks restaurant, at the banks
expense. The number of employees has
increased from the time Vice President
Van Blarcom entered the institution, in
1870, from five to nearly 100. The largest
addition to the force was made when
the National Bank of Commerce bought
out the st. Louis National Bank and
acquired it's business President Nicker-
son, Cashier Karst and Tellers McGirk
and Kennedy of the old st. Louis Ma
tional are now with the National Bank
Of Commerce, as are also nearly all of
their former co-workers there The Ma
tional Bank Of Commerce has also five
other tellers-Wm. Hammerstein. E. NJ.
Hodgman, Frank A. Peterson, Warren
M. Chandler and James B. Polluck.
The records announce that ON February
20, 1867, Charles Kircher resigned as
messenger and was succeeded by VIM