The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-03-17

Mi. Lockwood was then connected.
Tho business career:of lft'. Lockwood
began as It ended in tho financial world.
lii 1851 he occupied a position with the
Eank OF the Old Dominion, Of AlnXnn-&
dria. and this position he filled until
about ten years latel; when ne came 70
Richmond 1t is recorded that tho Bank
&c the Old Dominion, after war WAS over,
paid its deposits, redeemed It's circulation
and paid u dividend to It's stockholders
one of the few able to1do this. The finan.
cial integrity of this hanl: was secured
through Mr.. Lockwood. tran Its dis
count clerk On the advance Of the Fed
eral troops TO Alexandria tia bank S gold
VAS shipped to Lynchburg. and II vas
| afterwards removed to Richmond N Mr.
| Lockwood's care. The demand Tor gold
| by the government Was SO a grca that
lncarly all the banks surrendered their
| funds and took Confederate securities and
when the end camo the banks We're
swept to destruction in the general up.
/ he;lyal Not so with the Bank OF the
| Old Dominion. Its faithful dtscouN. y clerk
secured It's gokl and ut the evacuation OF.
Richmond, fled with it south, Two
months later he returned IL intact to
1.-The board of directors at Alexandria,
along with two thousand dollars n SILL
Yer, which he buried IN IA 5sal'cophagus
|
4 SOHO CLIMATE or HARRISON.
| In his youth Mr. Lockwood studied
| medicine, and was Il graduate OF Benjn-
| min Mallswells school Of Alexandria
i which was also attended by Cos eral Rob
i crt re-. Lee. He WAS q schoolmate OF eS-
i President IIarrGon Whep the grand,
fathcrof the latter was President. IRON
i Alcxanflria Mr.. Lockwood came to Rich
4 mond and was connected with the old
i Bank Of the Commonwealth until 1856
i Or therrabouts. when I've accepted Il no.
i sition with tho National Back Of W.
GINA, which sprang into eSlsterSce at the
j rlcse Of the war, He was with The
National Eunk of Virginia at It's Or
! ganization. but later went into the COM
4 mel;cal business In Baltimore. File Was
sought out. by three Of the directors Of
! tho bank ana offered Tho position Of
+ cashier when position he accepted,
From 1856 nEt!l two or three years ago
Mr. Lockwood filled tnp Office viii credit
! to himself and benefit to the insQtn tion.
4 He was one OF the organizers Of the
i BAmercan Bankers Association, and was
for twelve years II member Of the cSecu-
4 two committee He nominated Secre'
tary CGge for tho Office OF president when
he was III the head OF that organization,
AS cashie, of the National Bank OF viz
gnla lie Became known to thousands OF
,poope ard was universally esteemed und
admired HIS integrity was by-word
Iii all Of his eXper cnce as n banker, nc
never charged more than the legal rate
OF interest on u note.
REVOLUTIONARY CHANGES.
Tho banking business OF to-day is no.
what it was In the early HE Of Mr.
Lockwood, The barking 3usness," h'
said several years ago, has undergone
revolutionary changes in my time. BE
fore the war, for instance. such u thint
4 as daily remittance OF collections fol
other banks was not known. Wher W
4 made collections No simply held on t
1 tho amount. against whlch the hank L
n whose credit II stood issued Checks Dnr
4 ny tho wnr the sanr system Was oh
a served by the banks OF the south, tn
q business with the banks of the Mort
Y having ceased. After the war the pres
q ept system of daily remittances wa
"A !nnugurated.
III what Safeguards wore thrown nloun
81 Tho antc-bci!um hanks2 Why, mani
ri the public ganged tho standing and u
q sponsbility OF banks by the characte
81 az men In charge Of affairs Ban
81 officers IN those days were men % II
IA Yery highest character, almost wilhol
"a exception an Ascending cashier Or te
H lsr was 10 rara an individual that h
III dishonesty ssartlnd the Whole connlr.
ID The state banks made qnarterly sepos
!: To The auditor, ma once In q great viii