Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1915-01-29

naruly more than fifty savings inSti-
tutions Throughout the length and
breadth of the land. "Shin- -Dlasters -
two-penny bits, notes for twelve and
half, eight and four cents, were in
general circulation. while there was
still considerable French and Spanish
gold. Each bank issued it's own notes,
by the way--which might be good
when taken and worthless twenty
four hours later, or good in Harris
burg and merely so much paper in
Baltimore or Philadelphia. Deadly
jealousies existed between the ma
tional, State and unchartered banks
and between city banks and their
branches.
Mr.. Wallace Carries a Purse
Specie was boarded and there was
a great scarcity of change; an old
special minute of 1914 is on the books
of the bank, which is significant:
Resolved" reads that minute, that
any of the directors of the Harris
burg Bank, on application, can be
accommodated with change to the
amount of $10." AS late as Septem-
ber, 1910. Joseph Wallace. one of the
directors, was sent to st. Louis to
buy 100000 for the bank.
Opposition to the chartering of dis
trict banks was fostered by the city
banks, but in spite of this the Legis-
lature passed an act on March 21,
1914, authorizing the issue of char
ters to forty-one district banks, which
were to pay 715 per cent. of their
dividends to the State. In this dis
trict the Harrisburg Bank and the
Bank of Swatara and Middietown
were named.
Subscribing for the Shares
The value of the shares was fixed
at $50 each. Subscription books were
opened April 20, 1914, at the inn of
John Schdch and the homes of John
Fox, of Hummelstown Andrew Muir.
rary, of West Hanover, and Michael
Shure, of Halifax. The commissioners
were John Forster, Jacob Boas, Will
liam Wallace, John Downey, Thomas
Brown, John McCleery. Daniel Ferree,
Joseph Clokey. Isaac Hershey, AbrG-
ham Brandt. John Fox, Jr.. and John
Lands, of Spring Creek. The books
were only open six days, during which
time 235 people subscribed for G,427
shares, providing total subscription
of $321,350. And this notwithstanding
the fact that the charter signed BY
Governor Simon Snyder provided for
but 100000.
Names that have held q prominent
place in the history of Harrisburg were
included in the list of those who sub
scribed for a hundred shares. Among
them were Robert Harris, John Fors-
ter, John Howard, Jacob Boas, Chris
tian Kunkel, Joseph Doll, John linn,
William Wallace, Thomas Elder, Theo-
dore James Snodgrass and Isaac Her.
shey. John Schoch, Peter Keller,
Frederick Kelker. Jacob M. Haldeman
| ana John Fox, Jr., of Hmmelstown,
were among those who took fifty
shares, while the other prominent
shareholders included
The First shareholders
John Wyeth. Robert Fleming, Adam
Boyd, John Elder, Jacob Greenawalt,
| stephen, the architect of the old Capt.
! tol: Samuel Fleming, Henry McCor-
mick, John b. Cox, Peter Brua. Will
Buehler, Daniel Slime. John Noel
benny. William Graydon, Joseph Wal
| lace, Richard M. Grain, Robert McEl-
wee and Thomas Fox.
| The election of directors was held
at the Courthouse, June 8, 1914, when
these thirteen directors were chosen:
| Henry Beader Robert Harris, William
Wallace, Christian Kunkel, John How
ard, David Ferguson, John Schoch,
John Peter Keller, I'd, Abraham
Owes, Harrisburg: Isaac Hershey Lon
donderry; Jacob M. Hadleman, Cum
! berland; Thomas Brown, Paxton, and
| John McCleery. Halifax. These men
and their affairs were intertwined with
the development and growth of the
| city for years. William Wallace, q
son-in-law of Senator Maclay, was bur.
] gress of Harrisburg and q wealthy
| Iron manufacturer: Robert Harris, son
of the city founder. was active in poll
] ties and the secretary of the Harris
burg Bridge Company and one of the
commissioners which located the first
Capitol here. General John Forster,
the second cashier was in the Penn
] sylvania Senate which in 1916 voted