The globe-independent. (Hagerstown, Md.) 1943-19??, 1951-04-26


tie village of not more than $50
houses and a population of not two
thousand souls in ALL" But it was
already becoming a busy place with
shoemakers, tailors, gun and lock-
smiths, hatters, tanners, coachmak-
ers, coppersmiths and stores of vari-
Gus kinds where people of the town
could buy their needs in things to
eat and wear. 1t was the center OF
a population of something like $4,000
people and the need of bank was
beginning to be felt. Nathaniel Ro-
chester had for some time carried on
private banking establishment but
before long a movement began to
grow, which eliminated in the
founding of The Hagerstown Bank,
following a meeting in the Court
house on January 10, 1907.
BY Articles of Association, the cap
ital stock was limited to 100000, in
shares of $50 each. But subsequent
ly, under provisions of the charter,
the capital stock was reduced to
$25O,000
The first meeting of the bank was
held on March IL, 1907, when it was
found that sufficient amount of cap
ital had been subscribed. Besides
Hagerstown, Baltimore, Frederick,
Middletown and Cumberland con-
tributed to the enterprise, through
stock sold at these places.
The first board of directors was
composed of the following: Nathan
iel Rochester, Eli Williams, Thomas
Sprigg, William Fitzhugh, Charles
Carroll, Jacob Zeller, William Mac
Mahon, Samuel Hughes, William
Heyser and George Price. Nathaniel
Rochester was elected president at
salary of $1,000 a year, and his
brother-in-law Ellie Beatty, cashier
at $500 a year. The cashier was to
act as teller and the bookkeeper as
discount clerk, while the president
was to be responsible for all money
passed to the cashier, and the cashier
for all that passed to the teller.
The bank was opened in the house
of Nathaniel Rochester, at that time
a stone building on West Washington
Street, opposite the present Court
house. 1t was used as bank until
1914, when the bank was moved to
the location of the present Mont
gomery Ward building.
On January 10, 1892, John B.
Kieffer was appointed clerk in the
bank and on May 2, 1905, he was
elected cashier.
The above information was taken
from "a History of The Hagerstown
Bank" published in 1910. The his
tory also contains the following in
teresting story of early Hagerstown
days:
THE curtain of the century is
drawn aside, and HagerstoWn-the
town Jonathan Hager named Eliza
beth-Hager's Town, in honor of his
wife, is seen. In the center of the
Square stands a curious building
raised on piles above the surround
ing mud, Court House above and
Market House beneath, the whole
surmounted by the figure of tin
soldier, Little Heiskell'' by tradition,
pointing the way of the wind. (The
original Little Heiskell'' is snugly
encased in nice resting place, with
a glass top, in the museum of the
new City Hail. replica being placed
on top of the hall as a weathervane,
to serve in the same capacity as the
original figure.)
Fronting the Market House and
Court House on the corner of the
Square, stands the dignifed home of
General Hester, and back of the
house, stretching down to the bank
cl1Cy A1lOW 1lO(IlCSGCI i 1dSCJ IIlS
Madame Heister's flower. garden. The
stately gate, with its two tall pillars,
stands ajar, and through it a glimpse
may be caught of Madame Rosannah
Hester, daughter of Jonathan Ha-
ger, the founder, bending over the
early March blossoms in a row of
Holland bulbs.
''Diagonally across the Square
stands an old stone house. It is the
home of Jonathan Hager, the found
er. The old place now shelters Col
onel Lewis and his wife, once Ma
dame Orndorf Hager. Just opposite
the Hester place is seen the Eagle
Tavern, in which had occurred the
wedding of Henry Clay and Lucretia
Hart
Down the street there is buzz
of excitement around Beethoven
Tavern. A famous racer belonging
to Thomas McCardell, of Williams
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