Richmond Palladium (Daily), Volume 36, Number 261, 28 July 1911 — Page 2

THE RICHMOND PALLADIUM AND SUN-TELEGRAM, FRIDAY, JULY 28, 1911. ODD FELLOWS PAY DEBT ON BUILDING Lodges May Hold Jollification Meeting and Burn the Last Note.

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Debt on the Odd Fellows block on the Bouth weBt corner of Main and Eighth streets was wiped ou oi Wednesday at a meeting of the trustees. Members of the different lodges, which own the stock on the building, are Jubilant and it is probable a jollification meeting will be arranged at which the feature will be the burning of the last not. The building was built in three sections. That section directly on the corner was first purchased and improved. Then the association, controlling the building purchased the lot

to the west and erected an addition

which is now numbered 725 and 7

Main street. The third addition was that erected on South Eighth street to the rear of ' the Ma'shmeyer and Nicholson stores. For the last two additions the association went in debt

as it did also for the modern heating system. The total cost of the three additions, including the ground and the heating plant was 186,000. The earnings on the buildings have in addition to being, sufficient to meet the annual Interest on borrowed money and the principal of the loan, also netted each year 4 per cent on the in vestment. The building . though old is one of the most valuable in the city. Recently an effort was made to purchase it for approximately $96,000 but the lodges decided not to dispose of their Interests. Within a few years it is expected the building will be remodeled and modernized.

LAFOLLETTE WOOL BILL UP IN HOUSE

(National News Association) ', Washington, July 28. Loud applause by the Democrats and insurgent Republicans greeted the Lafollette wool bill wheh was announced in the house today. Debate was begun on the cotton revision schedule by Representative Underwood who advocated its adoption for the benefit of consumers.

Why worry, to whipp cream when you can get cream whipped ready to use at Prices.

City Statistics

Marriage Licenses. Charles Alfred Bennett, Richmond, 28, cement worker and Fleecy Marie Smith, Webster, 22. ;-.

Peach Ice Cream made from fresh ripe peaches. You get it at Prices, and some other flavors to select trom.

We Sell Illinois 17-jewel Movement In 20-year filled case at $10.75. Can you duplicate this? O. E. DICKINSON, Jeweler .. 8ee Window

WE BUY WATCHES FOR LESS .SELL FOR LESS Notice Window O. -E. DICKINSON, Jeweler

WE

Bid It Murt?

Mrs.. Harry Macy had eight teeth extracted on July 17th at the New York Dental Parlors and for the benefit of those who are wanting teeth extracted says: . ' "It Did Mot Hurt a Bit" Moderate Prices. Everything up to date. New York Dental Parlors

904'i Main St ,

Phone 1378

1

OF THUS

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Afternoon and Evening the new building and banking room of the Second National Bank will be thrown open to public inspection, and everyone is cordially invited to come. In extending this invitation to the people of this community, the Second National Bank feels that it will be timely to give briefly a history of the institution. .

The Story of Richmond Largest Bankiiitf Institution The charter of the Second National Bank was issued June 15th, 1872, but the bank did not open for business until July Jst, of , the same year. Just thirty nine years ago from the first of the present month, the bank- opened for business in the room which it has been occupying as its temporary quarters while the new building was being constructed. They remained in their original quarters "about -eighteen or twenty months when they moved to the location now occupied by the new building. , The first Board of Directors consisted of Andrew F. Scott, Jacob B. Julian, Wm. G. Scott, Oliver Jones of Centerville, John M. Gaar, Joseph W. Jackson of Center Township, C. C. Beeler, James Forkner, Robert Forkner, Robert Cox and Jonas W.' Yeo. Andrew -F., Scott; was elected president, and John B. Dougan,. cashier. James E. t Thomas was appointed individual book-keeper and Albert McNutt was appointed messenger boy, a position at that time, before the days of the U. S. mails, which was given to the youngest member of the banking . family. The original stockholders were (the names mentioned above), and John K. Jones, Isaac Eliason.Fred V. Snyder, Jesse Cates, Geo. W. Vanneman, Wm. S. Reid, Edward A. Jones, Albert Shoemaker, Abram Gaar, Isaac Gaar, Geo. W. Julian and T. Nordyke. .. - ; " Within a year or two after the organization, the Richmond stockholders bought out the interests of the Centerville stockholders and thereafter the bank became purely a Richmond institution. From 1872 until 1877, Mr. Dtfugan performed the duties of both cashier and teller, Mr. McNutt assisting him. In 1877 the Farmers' Bank was organized and James E. Thomas, who had .been serving the bank as book-keeper, left their employ and became the cashier of the Farmers' Bank. Mr. McNutt was appointed to West Point and Daniel G. Reid, then a young farmer boy, was appointed to the position vacated by Mr. McNutt. . . Mr. Daniel G. Reid's services as a messenger boy were such that his ability was recognized, and he was soon advanced to the position of teller, which position he held for twenty years, until he was elected vice-president of the bank, a position he still holds. When Mr. Reid was a small boy, he became very expert in counting money and in detecting counterfeits, and soon acquired a reputation among bankers as an expert. Andrew F. Scott died in 1895, and Wm. G. Scott succeeded him as vice-president. Mr. Scott died in 1897 and was succeeded by John M. Gaar. Kt the death of Mr. Gaar in 1901, Mr. John B. Dougan was elected to the position of president which position he still holds. When the bank was organized 39 years ago, most of the men connected with it were young or middle aged men. Today, Mr. Dougan is the only man living that was one of the original officers. Not one of the original stockholders are living today. The Second National Bank has passed through the experience of the country "resuming specie payment." Of all the panics that have shaken the country during the last 39 years, it has never had to suspend payment on its checks or fail to pay a dividend to its stockholders. In the year 1884 when the old Richmond National Bank failed, Richmond had its first experience of what a run on a bank meant. At that time there were but three banks doing business in Richmond. They were the First National Bank, the Richmond National Bank and the Second National Bank. On the morning following the closing of the doors of the Richmond National, the run on the First National commenced. Both of these banks met every demand promptly and cheerfully. The second day of the run the depositors saw the banks were supplied with cash and feeling that there was no need of being alarmed, the depositors began taking their money back to the banks. Within a few weeks all feeling of alarm was gone, and has never again appeared. With the failure of the old Richmond National Bank, all the funds belonging to Wayne county, the city of Richmond, and the School Board, were locked up in the closed bank. The Second National Bank was the. only bank in Wayne county that came forward and offered assistance to the. County, the City and the School Board. It was this bank that furnished the County, the City of Richmond and the School Board the money to carry on their affairs, until they could all be reimbursed from taxes' that would be collected the following fall and spring. The action of the Second National Bank in this matter saved the County and City from embarrassment and at once placed the Second National Bank in the front row in the banking family of Richmond. The Second National Bank increased its Capital Stock in 1907 from $150,000.00 to $250,000.00 and reorganized the bank, electing the following board of directors: Daniel G. Reid, Howard Campbell, P. W. Smith, George H. Eggemeyer, S. S. Strattan, Jr., Samuel W. Gaar, Clem A. Gaar, John R. Howard, George Miller, E. G. Hill, Henry Gennett, Henry C. Starr. John J. Harrington, Frank Land, E. G. Hibberd, C. W, Elmer and John B. Dougan.

Don't forget tomorrow you are cordially invited to inspect the new building afternoon and evening. . -