The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-04-25
HAS RISEN TO FIRST
PLACE, FINANCIALLY,
IN A HALF CENTURY
FIRST NATIONAL BANK STARTED
WITH 100000, HAS 100000
CAPITAL,


mond was fifty years old yesterday
and the anniversary was observed
by the institution, now the greatest
banking house In the South, with an
Informal reception from IL o'clock
till to patrons and friends. and with
q banquet in the Jefferson Hotel to
present and former employees, stock
holders, directors and officers, at 1850
o'clock last night.
During the reception hours repre-
sentettVes of every banking institu-
ton IN the city called at the First
National Bank and extended congrat-
ulations on the splendid growth. sue
cess and usefulness of the bank Nh
merous kilograms also were received
bringing congratulations. The hand
some bank furniture was beau
uEuliy decorated with large
bouquets of flowers and the
event was given most plea
ing surroundings. At the hour for
the close Of the business day, noon.
officials, directors. and employees took
their place in the receiving line. at
the head of which were Colonel John
r. Purcell, president; John NJ Mill
Ter. Jr,, vice president. and w. NJ.
Addison, cashier. To each Of the WIS.,
itors was presented a handsome SOU
venir booklet giving historical
business success.
The banquet last night was attend
ed by about two hundred persons
who have been or are associated with
the First National Bank. and invited
guests 1t was a magnificent affair
every minute of which was thoroughly
enjoyed. There were short talks by
r number who were called upon by
President Purcell who presided.
Colonel Purcell gave historical adj
d less. reviewing the rise Of the insti-
tuition. splendid parallel with that
OF the City Of Richmond.
Starts With 100000 Capital.
Founded fifty years ago on charter
owned by Hamilton G.. FAINT and
associates. under the national bank
act, then new. with a capital stock of
s100 900 the bank has grown to a
position first IN financial power In
the entire South. The resources OF
the First National Bank at the time
Of the last report of condition called
for March 4. 1915. are in excess OF
nineteen million dollars The capt.
tai has been multiplied by twenty.
being s2oen. oeo as against the slne,-
900 with which the institution was
started. The surplus fund is $1,000
900, and Undivided profits nearly
100000 Individual deposits in ex-
cess or Ss,0DO.oo0.
When the bank was esta hiIShed the
charter provided that the association
was TO continue FOR a period of twea-
~ years. The charter has been
amended twice since then for twenty
year periods, in 1885 and 1905. and
other banking houses have been in
these fifty years merged with the
First National
other Banks Merged.
The first Of these was the Exchange
Bank, consolidated with the First
National Bank in 1867 At this time
the capital stock increased 10 $500
600 Since the annual meeting in
January 1868. the first of the con-
solidated institution. there have been
two men, then placed on the clerical
force, continuously In the service OF
the bank. They are J. C Joplin, then
assistant clerk. and Walter S. Gill,
runner. Mr.. Joplin Is now assistant
cashier Both have for a half-cen-
fury given faithful service and each
has watched the remarkable rise Of
the bank and Of the City OF Richmond
TO power,
The growth Of the institution was
steady Its progress was coincident
with that Of Richmond and In tho
uphuilding Of the city the First Ma
tionai has had no small part.
Within the first ten wears there was
good growth. The bank was most
useful and A most successful fns.i
tuition It's early history despi,e
chaotic conditions prevailing in this
section during the DAYS ~ recon-
structtor 10 a nota BILE one The his
tory Of more recent wears though
difficulties have NOT heen such q.
those of the earlier ONES is even mora
brilliant
In ISs0 canitai s+ock was ssao ooo
surnius s90D ooo and denosits nearly
a million The hank maid dividends
70 its stocISholders or nlaced 10 me
surnIus fund such AMOUNTS a. were
n keenirg with sound buainasx MIN
ciples ever since its begjnning and
it's stock has rLse-, i'm value 70 yar
above mar
In Service Txyentv.e;ah, Years
Colonel John "A p,trcarI now nresy.
dent. was nIaced orr the hoard ~ AZ
rectors M the 1ss7 meatirr Ter
wears later he was elected vice -nres-
ident and IN 1904 CoIone, pnrc~li
became nres,dert In this sama vesr
John NJ Miller Jr who came hern
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