The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-04-17
BANK CELEBRATES
40 7 h Dirt HDAY
History of First National Shows
Continued Growth and
Progress.

The First National Bank, Of Rich
nond. was organized In this city forty
five years ago to-day. This is the old :
est bank in Richmond, and it's progress
since organization has been steady
and healthy, until now It Is an in
stitution Of which the people OF this
community may be proud.
Taking root in the ashes of evacua
ton fires, and organized while the
ruins OF the business section OF the
city were still smouldering, 1t has con-
stantly and persistently grown from
Its birth. Like other organizations. 1T
has had It's ups and downs, but 1t has
always steadfast,y withstood the as.
saults of time. depression, business in
activity and financial panlcs-a tower
OF strength in this community.
The articles of agreement and or
ganization certificate were signed on
April II. 1855. by seveteen mon, all
we'll known at that time in social and
business Richmond. Business began
in room in tAe custom house. on
lam St.eet. iAls, however, was only
temporary arrangement. the bank
moving in few weeks TO Governor
Street, Just above Main
At this time Samuel Miller. the
founder of Miller Manual School. now
located in Albemarle county, was hay-
Ing erected two buildings at Thirteenth
and Main Streets. and on their COM
pietion the bank moved into the one
next to the corner. the building now
occupied by the Western Union Tsle-
graph Company.
Two Banks Consolidated.
In 1857 the First National and the
National Exchange consolidated, IN
der the name of the former, and the
ofilces were moved to 1904 East Main,
which quarters they have continually
occupied since that time.
This building was erected In 1898.
and when Richmond was burned dur
Ing the evacuation was RACED to tho
ground, nothing remaining but the
Imposing front, with its immense and
stately columns.
BESIDES the incumbent, Colonel John
3. Purcell. the bank has had only four
presidents. AT its organization Ham
iiton G. FAINT was elected It's first
president About the time of it's con-
soildation that sterling character and
good business man, Isaac Davenport
5r.' succeeded to the office. a. 1.
lowed in order and on shee death sea lo Of
the latter in May, 1901, the present
Official assumed the reins of office.
1t SO happens that the number of
cashiers has been the same as pres
dents. five. viz: Nathaniel August,
samuel b. smith, Samuel A. Glover, Fl.
Miller Jr. 'o'ti' -a'
Its directorate has always been
composed of representative business
ffnen-men who have made a success
IA "a thelr private enterprises. and have
not only socially but financialiy.
Among the past directors NAV be not.i
the names of Franklin Stearns. Robert
lancaster. a. Y. Stokes. Philip Hax-
John x; Childrey. H. D. whitcomb.
David NJ. Lea, James Blair. Lewis D.
-renshaw, w. j. Yarbrough, John Pur-
cell and many others-all representa-.
lives OF the best business interests Of
the city.
Capital Stock Grows.
The capital stock Of the bank was
only 100000, but this has
been increased from time to time. as
me needs of the community required |
sl,OOO,000. At the same time, 1t has |
oeen the policy of the bank to accu-
nulate surplus. and this fund has now
reached the munificent sum of $500, 900 |
every penny earned from its legitimate |
business Besides creating this addi- |
-1onal security for its depositors. the
bank has paid It's stockholders during |
is life of forty-tive years the sum
,f S2.3Se,450, never missing a div-
lend.
The First National Bank has been
and we'll managed during Its
entire career. which is proven by it's
healthy and steady growth The
resent management consists of a |
president. vice-president and cashier
our assistant cashiers, and a strong |
directorate, consisting of seventeen |
nen of known business ability, repre-.
senting all the lines Of trade for
which Richmond is noted.
j. C. Joplin. one OF the assistant
is the Oldest bank man in |
ooint of service in the city, he hav-
ng been connected with this institu-
len since its organization. Though
low we'll advanced in years, he is still
1t his post of duty.
The bank has recently been reno
'ated and its interior presents a
pleasing appearance to the eye while
Is front. with its massive columns,
attracts the attention of those who
,ass by.