Jackson County IL Archives News.....PIONEER FIRST NATIONAL BANK ORGANIZED 37 YEARS AGO, CARRIES ON, FIRST DIRECTORS ALL EXPIRED October 16, 1923 ************************************************ Copyright. All rights reserved. http://www.usgwarchives.net/copyright.htm http://www.usgwarchives.net/il/ilfiles.htm ************************************************ File contributed for use in USGenWeb Archives by: Mary Riseling riseling@insightbb.com July 13, 2006, 3:03 pm Murphysboro Daily Independent October 16, 1923 Thirty-four years is not a long period in the affairs of nations, States, Kingdoms or principalities, but it is another matter with individuals of the human race. No more striking evidence could be produced than the fact that all the members of the Board of Directors of this bank at its organization have passed to the great beyond, viz: Geo. W. PARKER, Geo. W. WALL, Willard WALL, J. VANCLOOSTERE, George KENNEDY, Sr., Thomas M. LOGAN, and Wm. K. MURPHY. Its first officers consisted of Wm. K. MURPHY, President, Jos. VAN CLOOSTERE, Vice President, Willard WALL, Cashier, and Chas L. RITTER, Assistant Cashier, and of the five Mr. Ritter only survives. The latter had served the Jackson County Bank as Assistant Cashier and continued in the same capacity for the new bank until July 1, 1897 when he resigned that position to become Superintendent of the Murphysboro Water Works, Electric and Gas Light Company. He has, however, served the bank in an official capacity from the date of its organization to the present time. The bank was organized to take over the business of the Jackson County bank owned by Messrs. LUCIER, DESBERGER & CO., which began business September 4th, 1884, having succeeded the Miners' Savings Bank conducted by W. S. MURPHY, which failed. The multiplicity of details having been attended to and charter received from the Federal government the new bank opened its doors to the public on May 13th, 1889 in the east room of the present Utilities office on Chestnut Street and south of the Court House. The bank continued at this location until the year 1891 when it moved to new and larger quarters in the Logan Hotel building at the south-west corner of Eleventh and Walnut Streets, its present place of business. The first charter of the new bank covered a period of twenty years. In 1909 it was extended for another twenty years but Congress having amended the banking laws, it was again extended September 7th, 1922, for a period of ninety-nine years from July 1, 1922. It is quite evident that none of the bank's officers need be concerned for many years in regard to a further extension. The wealth of the community represented by the bank deposits and volume of business transacted was very limited in the early days. At the first meeting of the board of directors the appointment of a teller and bookkeeper was deferred until a later date or such time as the business would warrant. Consequently all small details and book-keeping were attended to by the Cashier and Assistant Cashier for several years after the bank's organization. Figures showing the banks growth in deposits will be shown later in detail. Another evidence of the uncertainty of life and the certainty of death is shown by the mortality in the list of names of the first day's depositors. In a perusal of the list our older citizens will recall many names of prominent men of affairs of that day long since forgotten except an occasional one who left children to perpetuate the name and memory. The list follows: Marshall BOONE & Co. F. J. BERGDOLL G. H. C. BODECKER James BEVAN J. O. CUMMINGS CHAPMAN & G'SELL Edward CRAWFORD Ben DANIEL M. A. HARTMAN L. HAMER & Co. John R. KANE J. B. KIMBALL F. A. KUEHLE, City Treasurer Medar LUCIER LUCIER & VAN CLOOSTERE (to pay their depositors) A. LEDERER LEE & GLENN W. H. McLAUGHLIN Murphysboro Brewery Co. Robt. P. MARTIN ROTHROCK & GLENN Chas L. RITTER C & L RITTER Louis REIGEL Andrew REIMAN John STOELZLE SCHNEIDER & VAN CLOOSTERE C. H. SUNDMACHER J. VAN CLOOSTERE J. VAN CLOOSTERE, Gdn. Robert W. WATSON Samuel C. WILD Willard WALL One of the most interesting subjects of a historical sketch of this kind has to do with the personnel of the organization. The names of the first officers and board of directors have already been mentioned. Perhaps no bank in Southern Illinois had as its founders three more conservative, competent and widely known men than Wm K. MURPHY, Geo. W. PARKER and George W. WALL unless it be another bank founded by the same men. They were ably assisted by Joseph VAN CLOOSTERE and O. A. HARKER, as stockholders. Mr. Murphy served as President until July 8, 1907 when, as stated in his letter of resignation he had reached the age at which he felt it necessary to be relieved of some burdens assumed when younger and at a time when the bank was in a prosperous condition, its business larger in volume and earnings greater than at any time in the past. The resignation was regretfully accepted by the board of directors and Willard WALL was elected to fill the vacancy. Mr. Murphy continued, however, to take a lively interest in the bank by lending his counsel and advice until his death in December 1911. No sketch of the bank's history would be complete without especial mention of the services of Willard WALL, to whose ability, integrity and industry a large share of the success of the bank is due. As its first Cashier and later as President, his devotion to its affairs was a matter of common knowledge and admiration. Mr. Wall's untimely death on July 13, 1915 was universally mourned. Mr. Wall was succeeded to the Presidency by John ALEXANDER, who was elected on July 26, 1915. Everyone loved John ALEXANDER and under his administration the bank continued its good record set by his predecessors. Mr. Alexander resigned the Presidency on December 26, 1916 and was succeeded by John M. HERBERT, the present incumbent. Thus the bank has been served by four Presidents--Wm K. MURPHY, Willard WALL, John ALEXANDER and John M. HERBERT in the order named. Joseph VAN CLOOSTERE served the bank as Vice President and Director faithfully and well for many years and his cheerful greetings and hale and hearty manner continue to be sadly missed by the older officers and patrons of the bank. J. B. GILL and Chas A. WALL have also served as Vice Presidents. The present incumbents are Chas L. RITTER and Henry BORGSMILLER. F. B. HALL, the present Cashier, was first employed in September 1896 as clerk and stenographer. His duties included the collection of electric, water and gas bills for the Murphysboro Water Works, Electric and Gas Light Company which had its office in the bank. This duty was no sinecure as money appeared to be scarce and claims and counter claims were numerous necessitating many a trip on "shank's mares" to the outer limits of the city. The task was heavy and onerous but Mr. Hall stayed with it until July 1893 when he resigned to accept the position of Chief Clerk to A. B. MINTON, then Master Mechanic of the Mobile & Ohio Railroad Company, which position he held until June, 1904, when he returned to the bank as Assistant Cashier, having been assured that his duties would not include the unpleasant one of collecting electric, gas and water bills as all had been collected. In July, 1907, on promotion of Willard WALL to the Presidency he was elected Cashier, which position he has continued to occupy to date. George B. FURNESS entered the service in January, 1903, as messenger and clerk. Like Mr. Hall, his duties included the collection--or rather attempt to collect--the old unpaid electric, water and gas bills but aside from having been threatened to be thrown out of several business houses on sundry occasions George fared well and continued to retain his patience and good nature and the office of the Utilities Company was eventually moved from the bank. He was elected Assistant Cashier on June 29, 1912, and continues in the same position. The officers and directors are proud of George and his record. John S. NORMAN, Frank CHEW, Raymond L. HAGLER, Clyde CHEATHAM, Russell E. BROWN, and Reet THOMAS each served for short periods as Assistant Cashier but left the service for other employment. The bank now has three Assistant Cashiers, George B. FURNESS (already mentioned) Leo ENGETT and Z. V. McCORD. Misses Stella A. BURR and May E. COTTER are veteran and expert bookkeepers and are doing their full share in conducting the affairs of the bank. As the writer has a high regard for his skin and hair no dates of employment are given. Earl McDONALD, Miss J'Neita REESE and Mrs. Blanche MARTIN are bookkeepers at this time and all are competent and interested in their work. Among the list of former bookkeepers who served the bank a comparatively short time may be mentioned Parker REEVES, John L. DIXON, Hugh PALMER, Anna Lavell CHANCEY, Howard KANE, Ray H. GIBSON, Frank PAUL, Thom. JENKINS, Jr., Willard ROLENS, Sheridan BUTCHER, David S. CROSS, Pearle E. GILL, Ruth Redd HARDY, Kenneth DEASON. The writer feels that especial note should be made to the memory of George KENNEDY Sr., who was a member of the board of directors at organization and who continued such service until his death August 9th, 1907. His name was signed to many reports of condition and although well advanced in years he always made it his duty to attend the meetings of the board in good or bad weather, showing a lively interest in the bank's affairs until his death. Another name we all revere is that of E. A. WELLS, who has been a shareholder since organization and has been in attendance at every annual meeting of the shareholders. On January 11th, 1922, the board of directors of the bank made official recognition of the fact of his faithfulness and loyalty by suitable resolution and something more substantial. John M. HERBERT, the bank's fourth President in term of service served as director for many years and has seen the bank grow in the volume of business and deposits each succeeding year of his administration. The first year of his term saw many changes in stock ownership until the bank is now practically owned by local capital, a condition devotedly to be wished for. During this year the board of Directors was increased to eleven members, later to thirteen and now comprises the following men of sterling quality: J. A. BARTH Henry BORGSMILLER J. E. CRAINE Homer K. DEAN John M. HERBERT Fred B. HERBERT C. C. HUTHMACHER Foss MARTELL H. O. OZBURN Chas L. RITTER Earl E. ROLLO W. S. SMYSOR James A. WHITE No doubt under Mr. Herbert's wise and skillful management and that of his most excellent board of directors, the First National Bank of Murphysboro and its allied institution, Murphysboro Savings Bank, will continue to expend to heights heretofore unattainable and at the same time serve faithfully the community in which they have their being. In 1918 the bank received permission from both the Federal Government and State of Illinois to act as Trustee, Administrator, Executor, Registrar of Stocks and Bonds, Guardian, etc. This service fills a long felt want and one that our citizens have not been slow to recognize. The bank started with $50,000.00 Capital Stock and so continues. The surplus has been added to from earnings from time to time until it equals the Capital Stock making it a Roll of Honor Bank as designated by the Comptroller of the Currency, who has jurisdiction over the affairs of National banks. The bank has grown in deposits since organization as shown by the following statement. May 13, 1889 - $44,464.07 May 20, 1890 - $79,011.90 May 29, 1891 - $94,262.41 June 15, 1892 - $107,563.18 May 13, 1893 - $131,372.75 May 21, 1894 - $79,532.74 May 25, 1897 - $110,853.96 May 15, 1900 - $183,078.78 May 20, 1905 - $421,597.86 May 13, 1910 - $450,951.65 May 15, 1915 - $590,138.45 May 15, 1920 - $799,312.92 May 15, 1923 - $1,022,676.97 Until recent years National banks were not permitted to make loans secured by mortgage on real estate. Realizing at an early date the necessity of some method by which our citizens could obtain money to buy or build homes or business buildings benefiting a prosperous and growing community, and to enable farmers to buy or improve farms, the officers and directors of the First National Bank of Murphysboro, on May 19th, 1893, opened the books of the Murphysboro Savings Bank, having previously received a charter from the State of Illinois for doing so, to fill that want. From the date of its organization nothing but savings accounts have been handled upon which interest has been paid and this bank has furnished a means by which many of our citizens have purchased or improved homes, business buildings, industries or farms which could not have been done otherwise and at the same time provided an institution where inactive funds could be safely deposited and an incentive told and young people to save their nickels and dimes for the proverbial rainy day. The bank has always been closely affiliated with the First National Bank of Murphysboro and has made use of the banking quarters of its mother institution. The officers of the latter have acted in the same capacity for the former and it is no idle boast to say that the same conscientious and conservative attention and care have been given to the affairs of both organizations. The management, past and present, is proud of the record. Although the directorate of the Murphysboro Savings Bank is not as large as that of its affiliated bank, the members have always been and continue to be, members of the board of the older organization. As a matter of interest it may be noted that on the first day of its business activities a total of $459.22 deposits were received which were made by Williard WALL, Mrs. Jennie RITTER, C & L RITTER, Joe BAER, Eunice DECKER, Mary SUNDMACHER, Bertha A. PENNY, and John McDONALD and the first loan was made to C. C. HUTHMACHER. The Capitol stock was $25,000.00 and has so remained to date. Starting with no surplus it is now $10,000.00, all of which has been earned. Additional Comments: Transcribed by Mary Riseling from grandfather C. E. RISELING's collection of old newspapers. File at: http://files.usgwarchives.net/il/jackson/newspapers/pioneerf7gnw.txt This file has been created by a form at http://www.genrecords.org/ilfiles/ File size: 14.5 Kb