————i__
FRIDAY EVENING, HAKRISBURG TELEGRAPH JANUARY 29, 1915.
4
HARRISBURG NATIONAL BANK GROWS
AND PROSPERES FOR A HUNDRED YEARS
It is Known as "a Bank That Has Never Failed to Meet an Oblig ition, Has Never Known
a Run and Has Never Passed a Dividend"—What Need to Celebrate! History
by Helen Bruce Wallace, Magazine Writer, Tells Story of Institution's Progress.
' ''''' "' PRE DE N'T - l Sl6 >— 1855 18 53 1656
Through days of sorrow and of
mirth • « » •
Through every swift vicissitude of
changeful Time
Unchanged it has stood.
With the same never-varying regu
larity of the clock on the stair the
Harrisburg Bank, or the Harrisburg
Uneeda Biscuit
Tempt the appetite,
please the taste and
nourish the body.
Crisp, clean and fresh—
-5 cents in the moisture
proof package.
Baronet Biscuit
Round, thin, tender—,
with a delightful flavor
—appropriate for
luncheon, tea and
dinner. 10 cents.
Zu®
Prince of appetizers J
Makes daily trips from
Ginger-Snap Land to
waiting mouths every
where. Say Zu Zu to
the grocer man, 5 cents.
Buy biscuit baked by
NATIONAL
BISCUIT
COMPANY
Always look for that name
National Hank, as it eventually grew
to be, has marked the days and the
weeks and the months of a hundred
years as the pioneer bulwark of finan
cial Harrisburg and Central Pennsyl
vania.
May 9, 1814, the Harrlsburg lianlc
was organised; May 9, 19)5, will mark
hundred years of activity for
the close of one and a
the Harrisburg National Bank, its
child. These be the days of moment
ous hundredth anniversaries of many
an enterprise and the occasions are
celebrated in a variety of ways. But
the passing of the century milestone
is not marked by any especial demon
stration on the part of the Harrisburg
National Bank. It has its own place
in the history of Harrisburg and Cen
tral Pennsylvania.; it has even con
tributed its share to the making of
history, in fact.
The Progress of a Dank
Progress of banking methods it has
followed from its inception. Long ago
it adopted a State charter to replace
a "branch" bank, and fifty years later
it accepted a national relation because
that was the best way to extend its
service. In like manner, it has just
related itself to the new regional re
serve banking system.
"A bank that has never failed to
meet an obligation, has never known
a run and has never passed a divi
dend." What need to celebrate!
In connection with the passing of
its hundredth anniversary, however,
the Harrisburg National Bank has
had compiled an interesting history
of itself by Helen Bruce Wallace, a
former well-known Harrisburg news
paper and magazine writer. The story
privately published by the bank con
tains some fifty pages, is replete with
rare old cuts and prints of the iong
dead directors and presidents and
other officers of the first bank of Har
risburg, who occupied so proud a
place not only in the financial world
but in the civic and even political
history of the city, State and nation.
It is called "A Century of Banking."
Tts Place in the Community
Aside from its value as a history of
the oldest bank in the central section
of the State and ono of the oldest in
the country, the history is of more
than ordinary value because of its
discussion of the earlier days of Har
risburg and of the relation the officials
of the bank bore in the development
of the city and the State through the
years.
The Harrisburg National Bank has
meant much to Harrisburg, but not
alone in a financial way. although an
old Centennial -ear guide-book of
1876 modestly states that it "is univer
sally esteemed one of the best bank
ing institutions of the Common
wealth." Behind the bank was the
ever-present, constantly-growing civic
pride of the men who occupied the
high places in the conduct of its af
fairs, and that feeling naturally was
bound to have its effect. Hence,
whenever a home industry could be
encouraged and developed, or the wel
fare of the citizens collectively or in
dividually improved, the influence of
the "Harrisburg spirit" extended, the
Harrisburg National Bank and the
men concerned in its activities were
behind the movement.
One Fur July Day
It was on a faraway July day—
July 6, as history has it—in 1814, that
the bank first opened its doors. Eu
rope was about preparing: to settle a
mighty momentous problem then—as
now; the last pages of the story of a
"man of destiny" were about being
written, and comparatively youthful
America was preparing to teach the
mother country the bitter lesson that
the parents cannot stop the merchant
men of its progeny on the high seas
Just because It is the parent.
Harrlsburg was but a wee town In
those days, but it was oven then of
such proportions that the need of a
home banl< was felt. Four years be
fore, In fact, there was talk of such
need. In 1814 Harrlsburg boasted of
some 2,500 inhabitants.
When Harrlsburg Was a Ila by
The city boundaries were diffcrer.i,
quite different, from tlju fur-stretch-
ing lines of to-day. The city lay be
tween Paxton street and South street
along Front, while a diagonal line
from there to Paxton creek at Mul
berry formed the eastern boundary.
All above South street was known as
Maciaysburg until 1838.
Tn Market Square, merely the
"Square" in those days, was located
tiie markethouse that was built by
Christian Kunkel, one of the original
directors of the Harrisburg Bank.
Thus even at this early date did that
institution and the men interested in
it, become felt in the development of
the activities of the city.
At the "Sign of the Sheaf o' Wheat"
For instance, there was John
Schocli, mine host of the famous inn
of the "Sign o' the Wheat Sheaf," lo
cated on the present site of the Har
risburg Club, at Front and Market
streets. Mr. Sehoch was one of the
iirst directors of the Harrisburg Bank
and it was at his tavern that all the
important conferences of the day
were held.
Another landmark that was built
in 176G and which is still standing is
the old stone mansion erected at
Washington and Front streets by John
Harris and occupied at the time of
the founding of the Harrisburg Bank
by his son Robert, one of the orig
inal members of the bank's direc
torate. Two churches, the German
Kel'ormed, at Third and Cherry, and
the Presbyterian, at Second and
Cherry, were in existence then, while
the cornerstone of Zion Lutheran, in
South Fourth strfeet, was just being
laid. The court removed from the
Courthouse in 1812 to allow the Leg
islature to sit. In those days there
were but two newspapers in Harris
burg—The Oracle of Dauphin, pub
lished by John Wyetli, and The Har
risburg Chronicle, published by Hugh
Hamilton. For many years Mr. Ham
ilton was the notary for the Harris
burg Bank.
The Flag of Stars
Of course, these were the exciting
days of the second fracas with Eng
land. Naturally some really local his
tory was made about that time. It
was in August, 1814, that the famous
Durang Family played, and it was
from Hyneman's Inn, in Market
stret, that one of the stars, Ferdi
nand Durang, enlisted in Captain
Thomas Walker's company of the
First Regiment. He marched to help
in the defense of Baltimore and there
won fame by setting Francis Scott
Key's 'Star Spangled Bauner" to the
tune of 'Anacreon in Heaven." The
brigade commander was General John
Forster, for eighteen years cashier of
the Harrisburg Bank. According to
Benjamin L. Forster, his son, and
now dean of the Dauphin county bar,
the "Star Spangled Banner" was first
sung ip the camps of the Pennsylvania
troops instead of Ford's Theater.
The Harrisburg Bank really bought
out the old Philadelphia branch bank,
known as "The offlco of discount and
deposit," in 1817. The price was
$245,8111.37.
Moses Musgrave was the cashier of
the branch bank and on Its board of
directors were Robert Harris and John
Howard, who were later t« become
directors of the Harrisburg Bank,
while Thomas Elder. Jacob M. Hal
deman, Christian Kunkel, Abraham
Oves and others, who were to become
intimately concerned with tho Harris
burg Bank, were depositors.
Raffing Down Hie Susquehanna
Father Susquehanna in those days
was an important and necesary ad
junct to tho lumber trade, and natur
ally Harrisburg was bound to be the
center of that great industry. In
flood times tho timber raft traffic was
immense. Wrote Mr. Musgrave of
those busy times:
"ln lumber and flour alone this town
does a business of $300,000 annually,
the busy seasons being Spring and
Fall, when the river is high." Of
course the needs for a bank were ob
vious. Not that it didn't require cour
age and Judgment to be a banker,
however, despite the business condi
tions. Only thirty-four years before
the first bank in the United States had
been established; there were then
hardly more than fifty savings insti
tutions th foughout the lengrih and
breadth of the land. "Shin-plasters,"
two-penny bits, notes for twelve and
a half, eight and four cents, were in
general circulation, while there was
still considerable French and Spanish
gold. Each bank issued its 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 na
tional, State and unchartered banks
and between city banks and their
branches.
Mr. Wallace Carries a Purse
Specie was hoarded and there was
a great scarcity of change; an old
special minute of ISI4 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, 1840, Joseph Wallace, one of the
directors, was sent to St. Louis to
buy $200,000 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,
1814, authorizing the issue of char
ters to forty-one district banks, which
were to pay 7 % 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 SSO each. Subscription books were
opened April 20. 1814. at the inn of
John Schocli and the homes of John
Fox. of Hummelstown, Andrew Mur
rary, of West Hanover, and Michael
Shiire, of Halifax. The commissioners
were John Forster, Jacob Boas, Wil
liam Wallace, John Downey, Thomas
Brown, John McCleery. Daniel Ferree,
Joseph Clokey, Isaac Hershey, Abra
ham Brandt, John Fox. Jr.. and John
I>nndis, of Spring Creek. The books
were only open six days, durlil;; which
tune 235 people subscribed for 0,42 7
shares, providing a total subscription
of $321,350. And this notwithstanding
the fact that the charter signed by
Governor Simon Snyder provided for
but $200,000.
Names that have held a prominent
place in the history of Harris burp 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, J.jhn Zinn,
William Wallace, Thomas Elder, Theo
dore James Snodgrass and Isaac Her
shey. John Sclioch. Peter Keller,
Frederick Kelker, Jacob M. Haldeman
and 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 Capi
tol: Samuel Fleming, Henry McCor
mick, John B. Cox, Peter Brua. Wil
liam Pearson. John Wister, George
Buehler, Daniel Stine, John McEl
henny, 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, 1814, when
these thirteen directors wero chosen:
Henry Beader, Robert Harris, William
Wallace, Christian Kunkel, John How
ard, David Ferguson, John Schoch,
John Peter Keller, 2d, Abraham
Oves. Ilarrlsburg; Isaac Hersliey, Tjon
donderry; Jacob M. Hadlemun, Cum
berland; Thomas Brown, Paxton, and
John McCleery, Halifax. These men
and their affairs were intertwined with
tho development and growth of the
city for years. William Wallace, a
son-in-law of Senator Mac lay, was bur
gress of Harrlsburg and a wealthy
iron manufacturer; Robert Harris, son
of the city founder, was active in poli
tics and the secretary of the Harrls
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 1816 voted
Altoona, I'a. i B Si EVENING
Toledo, Olilo Til I
Coin minis, (>. m » ■ _ _ _ 1 ILL
555:*,. 217—Market Street—2l7|»wmci
CLEAN-UP SHOE SALE!
llfel Gaiter Boots
TAN SHOES; I
best styles in but- (|»1 Af O Aft i f
'JHjffit i «pl«"5 & V.45
$2 to Rvalues. 1 Button or Lace Style
At SI.OO gfa.;' H' \ The Exact Style Sold Else*
women'S JK|gr if s§||fkwhere at $3.50 & $4.00
At n.oo
Eris'lSf I si.9B is
RUBBERS II GREAT VALUES FOR MEN I
FOR MEN. WOMEN • w w» * *""* *
-Ifc- Men's Dress Sli ops in Button, L,ace ,-■ •■* -
Boys or English, all leathers. $2.45 pi 1
>len's Patent, Dull and r
raSpST Moil's Tan and Blaek Waterproof j/q ft V\
low tongues, $2.50 0 I OR / \\
WOMEN'S Rl BIIEBS; regu- grade V■ l ® ® IS™'' 5A
lar GOe grade. Storm oq. ... .. .. ~ , :M\
or croquet. All sizes «Ji/C Men s Heavy \ enlskln /tC V\ \
OHIMiItEVS BIBBKRSi J&* Sho«, B lucher fm \
girls' ami child's regular 50c styles. *"- j0 JC I K|| ff ..," I
grade. Sizes up 29c values <(r I jp J ,■ V v
BOVS' HlBBEItS; good s°; , -f
wearing rubbers, 60c 49c / ;. : oi
HEN'S ARCTICS* men's V ii?i.^wwwwm«nHßglßg^^^* > I '
warm lined 1-buckle
arctics; $1.50 value ... 2JOC
J
——
Clean-Up Specials in Our Busy Bargain Department
r/'r.:sT.9s - SS^ilw
i , . _ . 400 pairs on tables; reg- 7Q~ tr■
v | / , Includes nil Bo>B u j ar I.aß value #*7 C Clean up of Girts' /\ r — A '
i I high tops in stock. _ Winter Shoes and /l| T
tC lP"4l I Values up to $.1.00. nigh Tops, made in A J Z
11 «J Heavy tan and CHILDREN'S TOE BOOM patent and dull l* A 1 •
\ b,ack waterproof _ V,. ck anfl tan . com . leathers, sizes up VLN. •
I 'fcUSta uppers and two full s ' lufc » DiacK ana tan, com tQ 2 p ormer va i ues
1 tflrJl so ' eS- All sizes. fortable toe room shoes; ...49c up to J2.50. | 1
| sjj'iJ Boys' Shoes Girls' Shoes / \
I 14 Sturdy calfskin CHILDREN'S RUBBER BOOTS Patent and dull #wV
n li \\» ■ anc 'L patent —about 25 pairs in lot. Regular leathers. Extra f ,
fl A ''* V. leathers. sizes ji.jo values. Sizes QQ„ good wearing / J*/ / J
up to 13 V 4 - Jl.aO sto 9 I/OC makes.* Sizes
A n CHILDREN'S I< EGOIXS
UXa Clean up Of all children's OQ. AQ [
i/OC 51.50 leggins. All colors IFOC
-> BOOK'S iH3ES—2I7 MARKET ST. 217-BOOK'S SHOES*-
to erect the first Capitol building. Ihe
president of to-day. Edward Bailey,
served as treasurer for the commission
which erected the present munificent
structure. „ ..
William Wallace I- itrU President
The directors organized at Mr.
Schoch's tavern. June 13. 1814. when
William Wallace was chosen president
over Robert Harris by a single vote;
John Downey was made cashier; Fred
erick W. I.eopold, then teller of the
"office of discount and deposit," was
chosen clerk, and AVilliam Mileham
was mads messenger and watchman.
It was at 9 o'clock of July 6, 1814.
in the parlor of Cashier Downey, at
Second and Cherry streets —now the
site of the S. P. Segelbaum home
that the Harrisburg Bank first opened
for business.
The New Home
William Wallace, Robert Harris and
Christian Kunkel. the building com
mittee that had been appointed at the
organization meeting, reported that
they had contracted for a liouse in
Second street. Tt was to cost *9,500
and to bo furnished with a vault, etc.
On October 2, 1814, tbe brick house
adioining the Nagle house, now on the
site of tbe Johnston building, became
the bank's home. This was occupied
until October, 1817, when the bank
was moved across the street to the
present site. It has occupied it ever
•since. The present bank building was
erected in 1854 by a building com
mittee consisting of Joseph Wallace,
Rudolph F. Kelker and Valentine
Hummel. The total cost was $15,-
778.35, of which $2,500 was for "safes,
locks, sewerage and improvements of
outbuildings." In 1895 the adjoining
property was added and converted into
an office building, and four years later
a committee, consisting of Messrs. Bai
ley. Weirnian, Kelker and Puneake
supervised the addition of a throe
story back building, modern vaults,
storage rooms, and so on. The en
larged space had been necessary since
1 893, when the Harrisburg Trust Com
pany was orgunlzed.
One Day's Business
The first three days the Harrisburg
Bank did business in deposits aggre
gating $25,580.06, while the first day's
discounts amounted to $16,142.80. The
first dividend was declarde November
5. 1814, uniounting to $2,283.52, or 33
cents on each share of stock.
At the suggestion of the Harrisburg
Bank, the first bankers' convention
was held there on December 5, 1814.
During the presidency of William
Kerr, November, 1864, the Harrisburg
Bank was transformed from a state
to a national bank, under the name
"Harrisburg National Bank (No. 580)".
The, same officers were retained and
the transfer was made without fric
tion.
The Iteoord of Twenty-one Years
William Wallace, the first president
of the bank, died May 29, 1816, and
he was succeeded by Thomas Elder.
John Downey, the first cashier, re
signed after nine months and was suc
ceeded by John Forster. Upon the
death of President Elder, in 1853.
Jacob Haldeman became the third
president. He lived but three yearH.
Within the next six years three changes
in the presidency occurred —William
M. Kerr and Valentine Hummel died
and Jacob S. Haldeman withdrew. In
1870 Dr. George W. Reily was chosen
president and he served until 1891,
when he became ill. In the twenty
one years of his service he missed but
five of the weekly board meetings.
Edward Bailey became vice-president
January 21, 1891, and upon Dr. Reily's
death in 1892 he succeeded to the
presidency March 2.
In War Times
In war times as in peace the Har
risburg Bank took a prominent part
in the civic affairs of the nation, state
and city. As early as June 5, 1861,
Mr. Weir advised the directorate that
he had subscribed for $30,000 of the
State war loan. In the days that fol
lowed the bank bought generously of
government war bonds and subscribed
consistently to war loans. In 1801 John
A. Weir became subscription agent for
the United States and the bank served
as his security. Truly those were ex
citing times, as a wee note scribbled
on the inside page of a record book
would indicate:
"July 1. 1863," stated this-refer
ence, "funds of the bank and
books removed, the Rebels being
in too close proximity!"
President Kerr had been aroused at
midnight to take the gold to New York
while Mr. Weir and his brother re
moved the other valuables to Philadel
phia.
Sharing Civic Burdens
In its hundred years of activity the
Harrisburg Bank has taken a big part
in the trials and tribulations of the
community. It passed through four
wars: outlived the terrors of unstable
currency of the earlier days; passed
uninjured through the panic of 1837
and 1857 and escaped the historic
"Black Friday" of 1860. The labor
troubles of the early eighties left it un
scathed. Nor did the later widespread
busirf?ss depressions of 1893 or 1907
affect its stability.
Incidentally the Harrisburg Bank,
There is Only One
"Bromo
To Got The GENUINE, Oall For The Full Nmmo
Laxative Brom
Usod Tho World Ovor to Ouro a Oold In OHO Day
Whenever you feel a cold coming on 0%
think of the full name LAXATIVE Oj
BROMO QUININE. Look for this
signature on the.box. Price 25 cents. F *
or some of its officers, bore a promi
nent part in the big improvements.
Most of its directors promoted the
movement to construct the Harrisburg
bridge across the Susquehanna.
Developing Utilities
Canal, railroad, electric, coal and
other big enterprises have been backed
from time to time with funds supplied
by the Harrisburg Bank; few business
men indeed in the city have not at one
time or another dealt with the Harris
burg Bank. The Harrisburg National
Bank had taken up its share of the
city loans, especially the paving loans,
and the lire companies have been
backed by this institution. In 1825
the bank became stockholder in the
Peters Mountain Turnpike Company,
which eventually constructed what has
long since been familiarly known as
the River road. In 1826 the bank
loaned the State SIOO,OOO for the pur
pose of constructing the canal over
which the lirst "packet" passed in
1828. The Harrisburg, Portsmouth
and Mount .Toy, the Cumberland Val
ley and the Lebanon Valley Railroads
all received support from the Har
risburg Bank.
The School, the Church, the Grave
The same institution, incidentally,
bore its part in the promotion of edu
cational institutions, including the
Harrisburg Academy and the Harris
burg Female Seminary, while on nu
merous occasions directors of the bank
have served on the Harrisburg School
Board. And what is true of the
schools has always been true of the
churches. It has never refused to aid
a church. The Harrisburg Hospital
and the State Insane Hospital have felt
the friendship of the bank and mem
bers of Its lx>ard of directors have
served in a similar capacity from time
to time on the governing boards.
Finally the helpful hand of the Har
risburg Bank followed the citizen of
Harrisburg to the grave and made It
possible for Mr. and Mrs. Ilarrisburger
and the little Harrlsburgers for a great
many years to come to have a com
fortable place to lay their heads in
that splendid "sleeping city" that is
[Continued on Page 5.] .