Evening journal., 1903-09-19
DELAWARE HAS
CENTURY0L BANK
Not Named in List OF Which
1t Easily Could Take the
Head
INCORPORATED IN THE YEAR 1896
It Has Survived the Financial Storms
Of Over a Century and Never Has
Failed to Pay Its Dividends Regu-
fartv

larly.
The Philadelphia National Bank is
celebrating its Tooth anniversary to-
day and a paper Of that city COM
mented editorially upon its remarkable
career. giving brief history Of the in
stitntion.
The article also mentioned several
other banks in the country that have
survived the financial storms Of CEN
tury or more. but neglected to name
the National Bank Of Delaware in that
list.
The National Bank Of Delaware is
even older than many Of the institu-
tions that were referred to In the edi-
torial, it having been organized in 1895.
and is therefore los years old. The
history Of this bank is very interesting
and is something that all Wilmingto-
mans feel proud OF. It has never failed
to pay dividends regularly. has never
suffered any loss through its clerical
force, and has always stood in the front
ranks Of the banking institutions Of the
country.
Sketch Of the Bank.
On February Q. 1895 the General As
sembly Of this state granted a charter
to "The President. Directors and Com
pany" of the Bank OF Delaware. with
capital stock Of 500 600 divided into
500 shares at 5000 a share The stock
holders held their FIRST meeting on June
s of the. same year, and elected as d.
rectors Joseph Tatnall. William Hemp
hill, Eleazer McComb. Samuel Candy.
Isaac Hendrickson. John Ferris and
Thomas Mendenhall. and they elected
Joseph Tatnall as president.
A committee Of the directors pur-
chased Of James Lea for 1000 pounds
the property at the northwest corner of
Fourth and Market streets. and on Au-
gust II the concern was opened fcr
regular business. Notes to the extent
of $4,000 were issued. the denomina-
tions being fives, tens, twenties. thirties
and fifties. payable upon demand in
specie, a requirement of the State law
After the war Of 1912 business in
creased so that now quarters became
necessary. and on June g. 1915, tn.
present site at the northeast corner o
Sixth and Market streets was bough
Of William Warner for $4,000 Befor
the year 1916 the new building WA
completed and occupied. The cid build
ing and site were sold to William Lar
kins fo- $4,000.
During the fnanci-l panic betweei
1911 and 1920 the Bank Of Delaware
held its own, in spite Of the fact tha
t95 other banks I'm the country becam,
insolvent. In 1920 a new charter wal
secured. During the panic of 1887
whom the Bank OF tho United statei
and $50 other hanks failad, the Bank o
Delaware and other sound concerns O
the kind suspended specie payment foi
a short time. It passed safely through
the panic OF 1857 its credit standing
unquestioned. As early as 1850 ia
stock was worth double its par value.
On July 1G. 1868. the institution be,
came the National Bank Of Delaware
with a capital of $4,000
But Five Presidents.
There have been but five presidents
: as follows: Joseph Tatnall. June s. 1896
to June .. 1902; Thomas Lea. June 2
1902. to June 3. 1910: Joseph Baily
z June 8, 1910, to June 4. 1S41; Henry Lat
{ timer, June 4. 1891. to June X 1872. an,
, Henry G.. Banning. the present presi
dent. who took charge on June Z. 1872
E The cashiers have been Tohn Hayes
I Edward Worrell. William Paxon, Henr,
/ Warner Samuel Flo-d. Richard Fl
Ewbanks and Henry Baird. who wa
f chosen on September IL, 1855, and whit
, has been connected with the bank 70
D over thirty-eight yenrs.
The working force of the bank toda,
is: President. Henry c. Banning; cash
Ter, Henry Baird paying teller. Edwarl
s W. Smith: discount clerk John II
Banning; clerk. Charles NJ zebley
Board Of Directors. Henry C. Banning
J. H. Hoffecker. Jr., Edward Andrews