The Palatka news and advertiser. [volume] (Palatka, Fla.) 1908-19??, 1911-08-18
the PUTNAM
NATIONAL BANK

community is so wrapped up with the
history of its banks that it is impos-
sible to write of one without dwelling
or the other. Therefore, in giving
any idea of the splendid growth OF
business here in Palatka during the
past twenty years, it becomes neces-
sary to write history of the Putnam
National Bank, which is not only one
OF the Oldest banks in this part OF the
State, but one of the most progressive
and substantial-a real landmark in
the financial world hereabouts, where
by the general advance in all lines OF
industry can best be shown.
The Putnam National Bank was
founded in November, 1892, by a
group of Palatka's philosophical
business men, who had long felt the
need of just such an institution. Mar
tin Griffin, Sr., was the first president
and Messrs. Parker A. Smith and
George L. Pace, the original pro-
motors, served respectively as vice
president and cashier. All of these
gentlemen are now dead, Mr.. Pace
having met tragic end on January
E, 1896, when he was thrown from a
moving railroad train at the Lemon
street crossing
Many of these founders of the Put
nam National Bank have since passed
away. their places being filled today
by the following officers, all of whom
may be classed among the most able
financial representatives in the State:
George E. WEIGH, president; F. H.
Wilson, vice president; A. S Willard,
cashier; Charles Burt, assistant cash
Ter. The directors are Messrs. George
E. Welch, F. H. Wilson, F. S.
Hodges, wv. H. Cyrus and J. H.
Haughton.
At all stages of their stewardship
these gentlemen have enjoyed the
confidence and held the solid backing
of many of the largest business inter
ests of Putnam county. At the time
OF the great freeze of I9o4-5, which
was a time of general financial chaos
and distress throughout Florida this
bank weathered the stress because OF
the hearty cooperation of the citizens
and the generally wise and conserva-
tive manner in which the officers
handled their tangled balances. Its
growth since that unfortunate time
has been steady and healthful. In
fact, so generously has the business
expanded that newer and more com
modious quarters have been required,
and the workmen are just now putting
the finishing touches to the hand
somely rebuilt structure on Lemon
street. This will be finished in Geor-
gia marble on the outside and Italian
marble and mahogany within.
The most up-to-date fixtures are be
ing installed throughout, special de
partment for lady depositors, etc. The
structure, when completely renovated,
will be one of the model buildings OF
Palatka. Particular attention is be
ing given the lighting and heating ar
rangements, and every method to ex-
pedite the daily business of the inst
tuition and comfortably serve its pat
rons will be adopted.
This bank has always been noted
for the efficient and courteous service
extended to the small depositor, and
the man or woman with only one dol
lar or two may be assured that he or
she will be accorded just as cordial
and sincere a reception at the Putnam
National as the one with a fortune t.
invest. 1t has been due chiefly to
this rule that the bank has held its
old patrons at the same time that il
has added new names to its books
during the twenty years of its exist
ence.
In these days of piping business
supremacy the financial rating of any
community is best gathered from an
examination into its bank reports,
and by putting this mode of proceed
ure into effect we find that state
ment of the present resources of the
Putnam National Bank read as fol
lows:
capital ................... 100000
Surplus and profits earned. 6S,79+25
Circulation ............. 100000
Deposits ................ 329,57o.09
$4o8, 365.I4
Dividends to the amount of $34,-
500 have also been declared.
This bank may be termed a peoples
institution in the fullest meaning of
the term There is nothing, indeed,
that comes closer to the daily life OF
the population than the bank which
handles the currency and collateral
representing exactly the same element
in the life of trade that blood does in
the veins of the human body. The