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

Fayetteville, N. c.. June &c, 1908.
l do not know when the first bank was
established here. From the account in the
Fayetteville Observer of the great fire
of May 20, 1881, which destroyed ovel
six hundred buildings and one and a
half million dollars worth of property, ii
appears that at least three banks were
then doing busienss here-the branch OF
the Bank of the United States 0he only
one in the State), the Bank of Cape Fear
and the Bank of the State.
In 1S4S the Bank of Fayetteville was
established At town meeting, held on
December 2, 1852, ito collect and arrange
the statistics of the county, commltte.
consisting of Messrs. James Banks, e. w.
Vikings, John H. Cook and &. q.
Wright was appointed to carry out the
object of the meeting. In this report
dated December 4th, 1852. occurs this
paragraph on the subject of the banks OF
Fayetteville:
twenty-five years ago, the banking
capital at Fayetteville was 81, 1850, 900
Now, although the population and bust
ness of town and county have so largely
increased, yet the capital is diminished
being including the Bank of Fayetteville
only $S30,000."
The Bank of the United States having
gone out of existence, that left the mum
Der of banks in Fayetteville at three, viz;
the Bank of Cape Fear. the Bank of the
State and the Bank of Fayetteville. hay
ing, as said in the paragraph above
quoted, capital of $S30,000. In 1855, the
Bank of Clarendon was established, with
capital OF $500, 900, which increased the
total banking capital OF the town to ST.
10000, which was the amount maintained
up to the breaking out of the war OF
1861
Following were the officers of the sew
eral banks:
BANK OF CAPE FEAR.4President,
Charles T. Haigh; Cashier John W.
Wright; Teller, Archibald Mclean; Book
keeper, William j. Anderson; Clerk.
Joshua Cannon.
Upon the death of Mr.. Wright in 1854,
Mr. Mclean became cashier. the Others
went up successfully, and Joshua Cannon
was succeeded as clerk by Wright Huske
BANK OF THE STATE.-President,
A w. Steel; Cashier, Ichabod Wet
more; then Henderson Lucas; Teller, Will
liam Huske.
BANK OF FAYETTEVILLE.- Presi-
dent, John w. Starr; Cashier, William
G. Broadfoot; Teller, William CT. Mat
thews: Discount Clerk, Sandy McPher-
son: Bookkeeper. William A. Rose.
BANK OF CLARENDON.-Pres
John D. Williams; Cashier, John w
Sanford; Teller, Jas w. Strange; after
wards. William Warden; Discount Clerk,
James McGilrary; Bookkeeper, James
Cooper Stedman.
Each of the four aforementioned banks
possessed its banking house. They were
all large, handsome buildings. built oil
fine brick and trimmed with brownstone
and having elegant apartments In the
upper stories for the cashier and his
family 1 believe that none of them cost
less than $4,000.
These banks all went down in the crash
of the adverse ending of the war, the
funds of the local banks. at least. being
invested in Confederate and State bonds
Early after the war, the present Bank
of Fayetteville was established, with John
Cashier, William McGary, Teller This
bank now has a capital of $4,000, and
its officers are as follows:
President, H. W. Lilly; Vice President
JAS. r. Williams; Cashier. John c
Haigh; Teller, George G. Myrover; Dis
count Clerk. Fl. ]. Marsh Bookkeeper
E. l. Lilly.
Three years ago, the National Bank o.
Fayetteville was established, with w.
Edwards. President; c. ]. Ahearn
Cashier.
This bank now has a capital of $4,000
and its officers are as follows:
President. w. W. Morgan; Vice Presi
dent, E. H. Williamson: Cashier, C.
Cooper; Teller. c. ]. Ahearn; Bookkeeper
r. c.. Harrison.
These facts have been hastily compiled
in response to Jour request received yes
terday Z. ]. HALE.
More History of Old Time Banking II