The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28

the State, was elected cashier OF the new
bank, with like unanimty. Mr.. William
E. Anderson. who had been clerk, was
made Teller. and Mr. Jordan Womble,
Jr., Bookkeeper.
Mr.. Charles Dewey was one OF the
most eminent cashiers in the South. He
was born in New Bern, November 2Sth.
1898. His father, John Dewey, came to
that place from Stonington, Conn, and
there married his mother, Mary Mitchell.
In 1919 Mr.. Dewey commenced business
life as bookkeeper for Mr.. James G. Cole,
and in the next year accepted the same
position in the branch Of the State Bank
of New Bern. In 1926, or early IN 1921.
he was transferred to the branch of the
same bank at Fayetteville as cashier. In
1928 he was elected cashier OF the princl-
pal bank at Raleigh, III place OF William
Henry Haywood, resigned. He continued
in this position until the affairs OF the
bank were closed on the expiration OF its
charter when he was transferred to the
Bank of North Carolina. When this in
Istitution went into voluntary bankruptcy
in 1927 he was made its assignee. He
then was made cashier and finally held
eigh National Bank He died October 20,
1885, He was then the Oldest bank Of
| ficer in the United States. having had a
continuous service of over sixty years.
From early life he was member Of the
Presbyterian church, and at his death
was one of the ruling elders of the church
at Raleigh
He was married three times. First to
Catherine Matilda Hall, of New Bern,
who died the next year, leaving no child.
His next wife was Ann Letitia Weber,
a native of New Bern, by whom he had
four children who reached maturity. His
third wife was Julia Ann Haylander, a
native of Philadelphia, then resident OF
Raleigh. They had two children who
reached maturity.
Charles Dewey for many years held a
commanding position in the banking cir
cles of the South. He was often sum
moned as an expert witness in financial
matters. He was man of unbending
integrity and strictest accuracy of speech
and writing. He was of kindly heart and
charitable to the extent of his means
Like most men whose business requires
often the use OF the little word mo" to
unacceptable propositions. he was some
times accused OF being rude and stern |
saw great deal of him for twelve years
and my belief is that the charges were
made by those who were incapable of en-
countering a refusal without becoming
angry and resentful toward the hard
hearted custodian of the coveted dollars.
William E. Anderson was teller. He
was son of William Anderson, of Hillsboro
and Wilmington, and nephew of Walker
Anderson, once professor in the Univer-
slty OF North Carolina, and then Chief
Justice of Florida He was afterward
cashier of the State National Bank and
then the able and distinguished president
of the Citizens National Bank at Raj
eigh He was educated at our University,
where he was especially bright in mathe-
MATES. He had clear. strong brain and
was one of the best men ! ever knew In
personal appearance he resembled his
relative, Judge Cameron, at one time con-
sidered one of the ablest financiers in
the South His ,lule OF Colonel was
gained in the Civil War, when he was
chief officer of the Home Guards regi-
ment OF Raleigh. / wish to record in his
hoonr that he was, with Mr. Mordecai,
and one other person. the founder of Oak
wood Cemetery He was brother of the
lamented Brigadier General George B.
Anderson.
Mr. Jordan Womble. Jr., who still lives,
the only survivor of the officers, was the
intelligent, accurate and thoroughly trust
worthy bookkeeper &
WORKING OF THE BANK.
The capital stock was all paid in a
year. An interesting question arose about
one payment. The University had $780,
0GO in the Bank of the State. and with
that paid for half her stock. In oruef
to secure the remaining 100000, certain
friends OF the institution borrowed the
money from the bank and loaned it to
the University, and she was thus en-
| abled to pay in full and obtain her cert.
ficate for 1000 shares. She then offered
her own well secured note. obtained a
loan ard with the proceeds repaid her
friends. Thereupon they repaid their
loan. At the end OF the war $4,000 OF
this debt remained unsettled and when
the University in 1868, went into the
endeavored TO have it declared void as
i incurred contrary TO the Cndftef, on the
allegation that the transaction was really
a loan for payment of stock. which was
prohibited The court sustained the loan
In the discount of bills of exchange
little formality was used, the president
and cashier being sufficiently cautious
But granting loans was solemn affair
The directors sat around table, always
in the same order. The notes were sue
cessively opened by the cashier and hand
ed to the president, who read the amounts
and the sureties. Those from a distance
We're recommended by some friend of the
bank or by the local attorney.
The president invited the fullest con-
fidential discussion of the condition oil
principal and sureties, and / never heard
of any criticism being repeated outside
the board. The borrowers who were OF
most value to the bank were negro trad
ers and horse-traders. They scattered our
| bills throughout the South from the
Potomac to the Rio Grande, from the
Ohio to the Gulf. and these bills very
slowly came back for redemption Rail
road builders were also good customers
Governor Morehead when he had the
| Atlantic Railroad contract had an ar