Logan County IL Archives History - Books .....Banking In Atlanta 1953
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Book Title: A History Of Atlanta

BANKING IN ATLANTA

    The banking house of T. N. Gill & Co., was the first bank organized in
Atlanta and probably in Logan Co. It opened for business in the spring of 1854.
This firm was succeeded by David Kern & Co. and was in turn followed by Dills,
Kern & Co., who conducted the business until 1866, when it passed into the hands
of the Hoblit brothers. In 1875, the Hoblits changed their bank to a National
Bank under the name of The First National Bank of Atlanta, conducting it as such
until 1879, when it again became a private institution, known as the Atlanta
Bank. It was located where Judge Frank S. Bevan now has his office.

THE ATLANTA NATIONAL BANK

    The Atlanta National Bank was organized in 1877 with Samuel H. Fields as
president; William S. Dunham as vice-president, J. P. Hieronymus, as cashier,
and the following directors: Augustus Reise, William S. Dunham, J. P.
Hieronymus, A. P. West, William Gambrel and H. C. Quisenberry. The bank occupied
the rooms now owned and used by Judge Frank S. Bevan as his Atlanta office,
until 1916, when the building which it now occupies was acquired.

    The bank is capitalized for $50,000, and its report as of December 31, 1952
showed a surplus of $50,000 and undivided profits of $50,447.46. Deposits
totaled $2,474,000.

    On two occasions, the bank has been the victim of attempted daylight
robberies. The first, on October 10, 1931, was thwarted when one of the robbers
mistook his own image in the mirror of the safe deposit vault for that of a bank
employe and shot, shattering the mirror. The robbers then fled without securing
any of the bank's funds. On June 29, 1932, the bank was held up again, and the
robbers made off with $4,386.33 and were never apprehended. Since that time,
bullet proof glass and other safety devices have been installed to guard against
robbery.

THE PEOPLE'S BANK

    The People's Bank was organized October 6, 1887 as a general partnership
with the following officers and directors: George W. Funk, president; P. R.
Marquart, vice-president; C. H. Turner, cashier; Ed. Stubble-field, J. L. Bevan,
John H. Burt, C. T. Rock, P. R. Marquart and C, H. Turner, directors. The bank
was located in the two-story brick structure which it built at the corner of
Arch and Vine streets. The capital stock was $40,000. In 1921, in order to
conform to the new banking laws, the bank was reorganized, under the name of
Peoples Bank of Atlanta, and the capital was increased to $50,000. In 1950, the
directors of the bank decided that, although the affairs of the bank were in a
healthy condition, circumstances were such that a liquidation of its assets was
advisable. Deposits were not accepted after June 30, and on July 29, 1950, the
stockholders voted approval of the directors' action. Depositors were paid in
full, and with the final dividend to stockholders in June, 1951, the Peoples
Bank ceased to exist after an honorable record of nearly 64 years.


Additional Comments:
Extracted from:

A HISTORY OF ATLANTA 1853-1953

Prepared by Citizens of Atlanta
As a Part of the Observance of the
Centennial, June 11,12 and 13,1953

THE PUBLICATION IS SPONSORED BY THE ATLANTA WOMAN'S CLUB

Atlanta, Illinois 1953

Published By
The Stewart - Pinks Publishing Co.
Atlanta, Illinois


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