Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1921-01-28
THE MADISON
NATIONAL BANK
Substantial Old Financial InstitU
tion, a Bulwark of Splen-
did Community

since the Madison National Bani;
was organized and set about the
task OF aiding in a financial way
the various interests OF Madison
county especially those OF agri-
cultural import, which was then,
as now, 4 chief source Of revenue
and traffic
During these years this old re-
liable banking institution has act
ed its part we'll in the drama OF
business progress. and through its
power and influence the commur-
ity has experienced more active
and prosperous business life. be-
cause it afforded the means that
sets the wheels of progress to
moving. and which have continu-
ed to revolve more smoothly and
more swiftly as each year Of It's
useful career passes by.
1t has been a pioneer institution
which has amply and abundantly
met every financial condition
which has arisen from time %
time. Today the county OF Madi-
son and Richmond an enterprising
and prosperous city, owe in a
10 IL, i,
standing in the state to the finan-
iCial aid and influence OF their nio-
Ineer banking institution.
The Madison National Bank
had sixteen original stockholders
land of this number probably tyn
were men worth 100000 each.
They we're one OF the most sub
stantial set of bushes men WHO
ever started an enterprise i'll
| Madison county. DR.. Thomas s.
Moberly was elected the bank 5
first president and his name was
Synonymous with integrity and
wealth. Some Of the institution
original stockholders were John
A. Duncan. Alexander TribbIe,
Ben amin Boggs. r. J. White.
Samuel Bennett. Thomas d. Che
;nauit and David A. ChenauIt.
Most of these men are still well
remembered by the older citizens
|of Madison county. Banking was,
a very different proposition III
1871 from that Of today. The b.
sis for the banks currency was 4
six per cent government bond, 50
the profits were available vii IN
small deposits. Then taxes were
very small, also. Silas T. Green
was the banks first cashier. He
was the largest stakeholder in the
enterprise, owning 400 shares OF
stock Mr.. Green had received
his training in branch OF the old
Northern Bank Of Kentucky. He
was a very prudent man with the
banks money; in fact. too conser-
vative, but his integrity was new
er questioned by any After a few
years he was made president OF
the bank and Mr.. c. D. Chenault.
who was the original clerk, was
made the cashier. Mr.. Chenault is
still living in Lexington and is
the last of the original stockhold-
ers or officers living
In 1873. Mr.. Green disposed Of
This holdings at public outcry. The
bank stock became more scat
tered and quite a number OF
young men became stockholders.
Among them was A. Rollins Bur
nam. Mr. Burnam was elected a
director OF the bank and in 1879
was chosen as president of the in
stitution He continued to serve
in this capacity until he was elect
ed to the appellate court in 1896,
Aat which time he moved to Frank
fort and was compelled to resign.
He with Mr.. Chenault were dis
Greet money-lenders and it was
often said that the old Madison
National Bank was never caught
with a bad debt. The dividends
made by the bank were very
handsome, being about six per
1ce1lt sefni-annuaHy.
In 1900, Mr.. Chenault retired
from the cashiership of the insti-