The Mount Holly news. [volume] (Mount Holly, Burlington Co., N.J.) 1891-1942, 1915-01-19
oil the present dau.

of the present day.
Many changes have taken place in
hundred years, not only in the history
OF the Farmers Trust Company, but in
the affairs of the nation. A matter OF
comment is the fact that the salary ofthe
first president was $500 per year and that
Inquire has neve been changed. MANY
other items are worth noting. In the
tirst days of the bank the notes of state
banks were all that were in circulation
and 1t was necessary to carefully scan
those offered and note the locality from
which they hailed as we'll as to consider
the standing OF the bank issuing them.
Under the National bank act the notes
that are circulated are hardly given a
moments thought, even though thew
are from a California bank. or some
other distant state. So, also. il was
necessary to have a copy of a counterfeit
detector" constantly at hand. Now. it
is rarely that counterfeits are suspicion
ed. Many other matters stronglyin con-
trast with today are noted. AT one time
the county of Burlington was refused a
loan of $40, 900 at six percent. but no
reason is given for this act, but the loan
was later made on the note of the county
collector. The relations between the
Farmers Bank and several banks of
New York, Philadelphia and Trenton
were severed ON an idea that the other in
%s,.udtions were not sufficiently strong to
be safe, but at the present time those
banks are among the strongest in the
United States.
And so we might go on and relate in
stance afterinstance that would show the
great contrast between the past and the
present. From the date of organization the
Farmers Bank lit must be referred to
by its original name las grown and
prospered until it stands today one of
the strong financial institution of the
country. In it's long list of shareholders
today are to be found the names of the
descendants Of the original shareholders,
still holding the stock held by their
grandsires. From the first deposit of
$137 on the fifth day of October, 1914,
there now iappear deposits amounting
to 1908, 1867 and the first note of 81 900,
September 30. 1914, has grown to
In commemoration of reaching the
centennial mark in the life of the bank
it was decided to print a history and this
was compiled by Edward d. Stokes,
who diligently applied many days to
searching the old minutes and completed
u history that is valuable now and will
be more SO in the years to come. A ban
quet was served in the directors
Tuesday and was attended by nearly 200
patrons and friends, many officials OF
city institutions coming to join in the
festivities, and to congratulate the Off
upon the successful close of the first
one hundred years.
The following is a list of directors elect
Tuesday, with the date on which they
were originally chosen: Joseph J..
White, 1888; Barclay G.. Allen, 1889,
Joseph G. Kingdom, 1890; Walter e.
Borden, 1891; John Black, 1896; James
Black, 1901; Edward D. Stokes, 1902;
Deacon, 1904; Robert w.
1905; George F. Ried, 1906; John
B. Davis, 1907; Edward Z. Logan, 1909;
Richard G. Darlington, 1910; Blanchard
H. White, 1910; Henry M. Black, 1912;
l.. Tallman, 1912; John v.
1913; V. Claude Palmer, 1918.
Joseph J. White was elected president
n 1912, and John E. Darneil was made
vice president in the same year.