LOCAL HISTORY: Tarring S. Davis, History of Blair County, Volume I, 1931, Blair County, PA - Chapter 17 Contributed for use in the USGenWeb Archives by Judy Banja Copyright 2005. All rights reserved. http://www.usgwarchives.net/copyright.htm http://www.usgwarchives.net/pa/blair/ html file: http://www.usgwarchives.net/pa/blair/1picts/davis/tdavis1.htm _______________________________________________ A HISTORY OF BLAIR COUNTY PENNSYLVANIA UNDER EDITORIAL SUPERVISION OF TARRING S. DAVIS LUCILE SHENK, ASSOCIATE EDITOR HARRISBURG: NATIONAL HISTORICAL ASSOCIATION, INC., 1931 VOLUME I CHAPTER XVII BANKS AND BANKERS BANKS AND BANKERS 243 BANKING has always been an important phase of economic life. The financial systems of the country have undergone many revisions since our federal government was organized. But human nature has changed little, and the ambition to amass great fortunes with little capital, has at almost regular intervals caught unfortunate investors in the meshes of financial ruin. The high wages and inflated values of the World War period sent many citizens into wild orgies of buying property far more costly than their ordinary means would allow. The stock market attracted many investors who were too young to benefit by previous experiences in the panics of 1896 and 1907. Installment buying has been responsible for part of the present depressed situation. The changed standards of living which demand that each family must have a car or two, a radio, expensive vacation trips, more than the necessary allowance of clothes, and much entertainment, is another cause for the trouble. Inventions, displacing man power in mills and factories by machinery, and the inability of the unskilled laborer to adapt himself to new conditions, plus the age old experience of skilled artisans who are temporarily embarrassed when the old order changes, are all sources of the predicament in which the business world of today finds itself. Conditions are only partly due to the over-production in every phase of economic life. Back of it all is something vital, though almost intangible. It may be that modern society has been too much engaged in building fortunes and has almost lost sight of primary things, and that in the attempt to attain material wealth, the art of living well, has been lost. All of these conditions have been contributing causes to the economic depression of 1930 and 1931. Blair County, especially Altoona, has had its share of uncertainty. Four of our most outstanding banks have been temporarily embarrassed simply because, in more prosperous years, money was lent generously with the minimum of security, and business enterprises that reached the highest peaks of success a few years ago, have been unable to continue piling up profits. The experiences of these years find precedents in the crash that fell in September, 1896. At that time the banking house of Gardner, Morrow & Company, at Hollidaysburg, closed its doors. Over a period of half a century this firm had been intrusted with the deposits of many of our citizens who were not advised of any possible disaster until a few days before the bank ceased to function. The problems that brought about its failure are similar to those that local banks faced this year. Too much paper, which was good in normal times, was held by the bank and it could not be realized on then. The First National Bank of Hollidaysburg, and banks in Williamsburg and Martinsburg felt the effects of the failure of Gardner, Morrow & Company, for a time, but because of sound financial bases the influence was short-lived. Jesse Sell includes an interesting incident concerning the closing of this bank in his history of the county. A 244 BLAIR COUNTY HISTORY depositor, who lived in a Cambria County mining town, did not learn of the cessation of the bank's activities until twelve years had elapsed and he had occasion to come to Hollidaysburg to withdraw some of his funds. This is interesting to the Twentieth Century citizen who is in a position to know through vaguest rumors, the affairs of institutions and people long before they occur and sometimes when they never take place. Before Blair County became the center for industrial development, banking houses were not established. As in all frontier communities, barter was the common method of exchange. Whiskey, lumber, iron and farm products were the early valuable articles for trade. The needs of the pioneers in the hills and valleys of Blair were fulfilled by local artisans. Weavers, shoemakers, hat makers and millers were supplied by the patron with raw material, of which part was retained by the craftsman as payment for the finished products. The impetus that economic development in this county received, when the canal and Portage Railroad were projected through it, changed the interests, living conditions, occupations, and even the character of much of the population. Hollidaysburg waxed for a time, and such communities as Frankstown and Newry waned, until Altoona was founded. Then Hollidaysburg no longer led in population and economic development. But during the canal and Portage Railroad era it maintained unrivalled prosperity in this part of the state. In this period of ascendancy, when money came into the town it was necessary that a banking organization be formed. Thus the forerunner of the present Hollidaysburg Trust Company came into being. HOLLIDAYSBURG BANKS It was a Branch of the Exchange Bank of Pittsburgh, established in the future county-seat about 1836. In 1849, the bank closed and all the claims were immediately paid. This house had notes in circulation, and served people over a great section of territory in Central Pennsylvania. In the same year that the Branch of the Exchange Bank of Pittsburgh ceased functioning, James M. Bell, a lawyer, and Thomas C. McDowell, who had been identified with local transportation at the time of the canal and Portage Railroad, organized a banking house under the firm name, Bell, McDowell & Company. Mr. McDowell remained in the firm for a short time and his place was taken by Robert B. Johnston, who had a position in the office of the firm, and the name accordingly became Bell, Johnston & Company. William Jack, clerk of the Pennsylvania House of Representatives, was made a member of the firm in 1852, and its name became Bell, Johnston, Jack & Company. Mr. Bell left the firm two years later and William Lloyd took his place, although the old name of the firm continued to be applied until he withdrew in 1862. Then it became Johnston, Jack & Company for a year, and in 1863 was changed to a national bank. For many years after that it was known as the First National Bank of Hollidaysburg. William Jack was the first president, and Robert Johnston, the cashier. The capital at the initial organization of the national bank was $50,000. Johnston was killed in an BANKS AND BANKERS 245 accident at Baltimore, in 1868. William H. Gardner, of Washington, D. C., succeeded him. The capital increased to $100,000, and in 1911 the Honorable Jesse Hartman was president; Dr. A. L. Garver, of Roaring Spring, vice- president; J. G. Shope, cashier; H. A. Webber, W. I. Woodcock, D. L. Sillinger, W. A. Huff, J. W. Gromiller, Dr. A. L. Garver and Jesse Hartman, directors. Mr. Hartman was elected president of the bank in 1898, and continued in that capacity when the institution was converted into the Hollidaysburg Trust Company, until his death on February 17, 1930. Mr. Hartman was a leading citizen of Pennsylvania. He was a native of Huntingdon County, and in 1872 entered the employ of B. M. Johnston & Company as clerk in their general store in Hollidaysburg. In his six years of service for that firm he rose to the managership of the branch stores at Rebecca Furnace and at McKee. In 1878, he accepted a position with the Hollidaysburg Gap Iron Company as manager of the blast furnace at McKee, and remained at that post for three years, when he resigned to become prothonotary of Blair County. The possibilities of the ganister business interested him and in 1884 he shipped the first of that material for the manufacture of silica brick. Shortly after that he organized the Juniata Ganister Company and eventually became sole owner. In 1910, he was elected to the Congress of the United States, by the Republican Party, and was renominated in 1912, but the split in the Republican Party placed the Democratic nominee in office. The diversified activities in which he engaged included the Nason Hospital, of which he was president of the board of trustees. The Hollidaysburg Trust Company had the privilege of developing, under his guidance and leadership in the presidency, for more than thirty years. In an editorial that appeared in the "Hollidaysburg Register" at the time of his death he was characterized as "strong, able, efficient, kind and charitable." The Citizens National Bank is the other Hollidaysburg banking house. It was organized in 1903 with a capital of $50,000. J. King McLanahan, Jr., Lynn A. Brua, H. S. Smith, Oliver H. Hewit, Thomas J. Baldrige, Peter S. Duncan and A. C. Burger are among the citizens of the community who have been instrumental in its development. ALTOONA BANKS Bell, Johnston, Jack & Company extended their activities to Altoona before 1857. They were the first bankers to do business in this city. The name changed to William M. Lloyd & Company, and the firm was very active until the panic of 1873 made it necessary for the organization to cease functioning. It was reopened in 1882 as the Second National Bank of Altoona, under the National Bank Act. The bank engaged in general banking business and was affiliated with the Federal Reserve System. Twenty-one persons were employed in its service, and the bank had $125,000 capital. On several occasions early in 1931 heavy withdrawals occurred until finally it was deemed advisable to suspend activities for a time. The officers in 1930 were: Venantius A. Oswald, president; G. A Klesius and W. L. Woodcock, vice-presidents; A. M. Replogle, cashier; C. K. 246 BLAIR COUNTY HISTORY Nagle, assistant cashier and trust officer; C. F. Frank, assistant cashier and trust officer. The directors were: G. A. Klesius, W. L. Woodcock, J. Banks Kurtz, C. M. Kurtz, J. E. Brumbaugh, Samuel March and V. A. Oswald. The First National Bank of Altoona was chartered under the National Bank Act in 1863. It engages in general banking, has a capital stock of $150,000, employs 41 persons and is a member of the Federal Reserve System. The Pennsylvania Railroad Company has been one of its heaviest depositors. The slogan has always been "Safety - First of All," and with $6,000,000 in assets and $400,000 in surplus the strength of this house is assured. A. M. Lloyd was the first president and his son, John Lloyd, succeeded him and now John Lloyd, Jr., holds the position. J. M. Skyles, who was the cashier, is the present vice-president, and Robert C. Wilson who was at one time the assistant cashier is now cashier. N. F. Lane is the assistant cashier and trust officer, and his work is supplemented by that of F. C. May and D. E. France, assistants to him. The directors of the bank are: A. L. Anderson, Charles F. Anderson, Benjamin Cohn, J. H. Shearer, John Lloyd, Jr., Robert B. Gable, M. H. Canan, J. Foster Meck, J. M. Skyles, and C. N. Cohn. Moses H. Canan has been a director of this bank for thirty-eight years. Mr. Lloyd has many and varied interests. He is identified with the Altoona Coal & Coke Company, the Allegheny Water Company, Latrobe Coal Company, Logan Valley Railway Company, Logan Valley Land Company, and the Altoona Hotel Company. Robert C. Wilson entered the service of this institution as a clerk and messenger in 1890. In 1902, he was promoted to the post of assistant cashier, and in 1921 became cashier. In addition to his activities here he is president of the Altoona Discount Company, secretary of the Suburban Home Company, member of several local building and loan companies, treasurer of the Central Bureau of Charities and of the Blair County Chapter of the American Red Cross. During the World War he was treasurer of the United War Work Campaign here. J. Foster Meck is a prominent attorney of Altoona. Much of his practice is in the field of corporation law and subsequently he has many contacts among local financial houses and banks. Mr. Meck is a member of the Altoona Board of Education. Robert Blair Gable is president of the W. F. Gable Company. The Gable Department Store is one of the finest and best known in Central Pennsylvania. Mr. Gable is a broad-minded, sympathetic leader who is greatly interested in the welfare of his employees in addition to participating in many community movements. He holds a directorship in the Altoona Discount Company. In 1872, the Central Trust Company was established as the Altoona Bank. Leaders in its organization were: E. B. Isett, president; R. P. Morrow, cashier; Martin Bell, John B. Westley, William Murray, Matthew Morrow and Samuel Wigton, directors. The capital was $100,000 then. Theodore Wigton became cashier in 1873 and in 1898 Jacob Gemmill Davis succeeded him. The original institution was a private one, and on February 1, 1902, it was incorporated as the Central Pennsylvania Trust Company. On April 22, 1903, the present title, Central Trust Company, was adopted. This institution engages in general BANKS AND BANKERS 247 banking and the trust business. There are 13 employees, and the capital is $250,000. The officers are: Moses H. Canan, president; Isaiah Scheeline and G. A. Wolf, vice-presidents; W. B. Reed, secretary, treasurer and trust officer; Moses H. Canan, D. S. Biddle, J. C. Hughes, G. C. Kelchner, I. C. Mishler, Isaiah Scheeline, H. P. Wilson, E. A. Caum, G. A. Wolf, S. M. Cohn and G. W. Shaffer, all of Altoona, directors; J. Kazmaier and J. S. Seeds, of Hollidaysburg, directors. Mr. Canan has been president of this trust company since its incorporation. Jacob Gemmill Davis was associated with the bank over a period of more than thirty years. He was a Civil War veteran, and became engaged in many of the most important financial, civic and social movements in Altoona when this city was still young. From 1902 to 1917, he was secretary and treasurer of the Central Trust Company, and in the latter year became vice- president and general manager. During the World War he served as chairman of the Liberty Loan drives in Blair County. He was the treasurer of the Altoona Hospital and of seven local building and loan associations. The great length of his service was remarkable and worthy of emulation because it is a record of continual growth and participation in many worthy enterprises. Isaiah Scheeline, one of the vice-presidents of the Central Trust Company, is the senior member of the law firm of Scheeline & Smith. He is noted for his close affiliation with local welfare movements and served as a member of the city welfare board in Altoona. In business activities, Mr. Scheeline is president and director of the Westfall Company, clothiers, in Altoona. George C. Kelchner, another of the directors, has been connected with the company for more than twenty years, and is a partner of the firm of Curry, Canan & Company. Altoona and Hollidaysburg business leaders were instrumental in establishing the Altoona Trust Company, which was incorporated under the state banking laws on May 6, 1901. It maintains commercial, savings and trust departments, and is a United States depository for postal savings. It has always held the confidence of the community and is capitalized at $250,000. The capital, surplus and undivided profits amount to $1,000,000. J. A. B. Melvin and H. K. McCauley have been presidents of this institution. Others who have been actively connected with its development are: William V. Hughes, William H. Weber, Samuel Wilson, Samuel E. Morrow, A. C. Shand, D. M. Clemson, W. W. Blackburn, Robert J. Fay, J. R. Bingaman and C. A. Wood. There are 14 employees in the Altoona Trust Company. The present officers are W. M. C. Craine, president; W. V. Hughes and E. M. Jones, vice-presidents; Samuel Wilson, treasurer, secretary and trust officer; E. M. Jones, Samuel Wilson, W. M. C. Craine, D. N. Slep, Thomas C. Hare and J. H. Dillen, all of Altoona, directors; D. M. Clemson and W. W. Blackburn, of Pittsburgh, directors; M. V. Hughes, of Hollidaysburg, director. J. H. Dillen is the assistant treasurer, secretary and trust officer. Samuel Wilson has had a long and enviable career in banking circles of Central Pennsylvania. His father was a banker and merchant of Mifflintown, and in 1882, Samuel Wilson was employed in his store. Later he served as clerk in the First National Bank of Mifflintown, and then as clerk 248 BLAIR COUNTY HISTORY and assistant cashier in the Orbisonia Bank. In 1901, he came to Altoona as clerk in the trust company with which he is still identified. Nine years later he was made assistant treasurer and in 1913 was elected treasurer and member of the board of directors. Mr. Wilson is also president of the Commonwealth Building & Loan Association and treasurer of the Blair & Cambria Realty Company. The Union Bank of Altoona has operated under five different names since it first engaged in banking business on November 1, 1870. Then it was the Mechanics' Savings Bank. It was incorporated in February, 1886, as the Fidelity Banking Company, Limited. Next it was known as the Fidelity Bank and in 1903 it became a trust company with the title, Union Trust Company. The following year it was reorganized to engage in general banking business and has since been known as the Union Bank of Altoona. Men who have been identified with its activities include: Maxwell Kinkead, E. K. Baldrige, William M. Lloyd, Jr., W. J. Heinsling, M. H. Mackey, A. P. Rupert, John O'Neil, W. S. Lee, Dr. J. D. Findley, Samuel Elway, James W. Findley, D. S. Keith and William H. Orr. The bank was capitalized at $200,000 and employed 14 persons. It concluded its business on February 24, 1931. The officers in 1930 were: Dr. Joseph Dysart Findley, president; Roy J. Orr, vice-president; Irvin W. Smith, cashier; James Lamb, J. E. Holtzinger, C. A. Hauser and M. L. Kauffman, assistant cashiers; G. W. Shaffer, J. D. Findley, J. C. McKerihan, Jacob Sitnek, LeRoy B. Mackey, N. A. Stevens and R. J. Orr, directors. Irvin W. Smith became a bookkeeper for the bank in 1905 and was elected cashier in 1919. James Lamb was employed as a messenger in 1904 and steadily advanced from one position to another until he became assistant cashier in 1919. The Mountain City Trust Company was incorporated on September 26, 1905, with departments for general banking, trust and savings, and as a United States and state depository. This bank employed 16 persons and 95% of its business was derived from residents of Altoona. H. L. Nicholson was the first president, and the other officers were: Oliver Rothert and W. S. Aaron, vice-presidents; E. J. Loomitz, secretary and treasurer. Included among those who were active in the Mountain City Trust Company's growth are: Dr. James E. Smith, W. S. Aaron, C. G. Mattas, C. M. Kurtz, W. H. Burgoon, J. L. Tate, W. L. Nicholson, H. W. Weest, W. H. McEldowney, V. A. Oswald, J. R. Hinman, L. M. Moses, J. Banks Kurtz, J. S. Fleck, Dr. A. S. Oburn, S. G. Griffith, S. S. Metz and Levi Z. Replogle. Recent officers were: Dr. James E. Smith, president; Venantius P. Oswald and C. G. Mattas, vice-presidents; L. M. Moses, secretary and treasurer; W. A. Leckie, comptroller; J. R. Harkness, assistant secretary, treasurer and trust officer; W. L. Nicholson, of Hollidaysburg, director; J. Banks Kurtz, H. W. Weest, C. G. Mattas, W. H. McEldowney, Dr. A. S. Oburn, C. M. Kurtz, V. A. Oswald, W. H. Burgoon, J. R. Hinman and S. G. Griffith, all of Altoona, directors. Dr. Smith is among the oldest medical practitioners in Altoona and is identified with fraternal orders and educational movements. In the latter field he has served as a school director in Altoona for a BANKS AND BANKERS 249 long period of time. William S. Aaron is a prominent Altoona furniture dealer. In the Republican Party he has been a staunch and eminent leader. The citizens of the state chose him as a delegate-at-large to the Republican National Convention when Hughes was nominated in 1916, and again in 1920 when Harding and Coolidge were the successful candidates. Samuel S. Metz began his career with the Pennsylvania Railroad Company as clerk in the Altoona offices from 1883 to 1906. Then he came to the Mountain City Trust Company as bookkeeper, and in 1907 became that institution's secretary and treasurer. Mr. Metz was active in the Liberty Loan drives during the late war. Honorable J. Banks Kurtz is the local representative in the United States Congress where he has served the best interests of his constituents since the Sixty-Eighth Congress. He is an able attorney, and was district attorney for Blair County during two terms. The Mountain City Trust Company temporarily ceased its activities on February 27, 1931, following heavy withdrawals of deposits. The state banking department announced that the institution is financially sound. The Lincoln Deposit & Trust Company is a flourishing young banking house in Altoona. It opened for business on October 13, 1917. Charles W. Albright and Leonard Miller have been its presidents; H. A. Hutchison, vice-president; Emory H. Davis, secretary and treasurer; Melvin G. Smith, assistant secretary and treasurer. George A. Wolf, N. A. Stevens, and Robert W. Nash are among the directors. Leonard Miller is a native of Newry, this county, and has had a phenomenal career in business. He has been employed in turn in a stone quarry, woolen mill, carpet weaver's shop, broom factory and in manufacturing willow ware. In 1919, he organized the firm of Leonard Miller & Sons, dealers in wholesale house furnishings. Mr. Miller is the principal owner of the Altoona Manufacturing Company, and is a trustee of Mercy Hospital. Robert W. Nash is president of the Altoona Wholesale Grocery Company and treasurer of the Altoona Baking Company. Venantius A. Oswald is president of the First National Bank of Juniata. It was organized in 1907 with a capital of $25,000. David E. Parker, a prominent contractor, is a former president. Other officers are: David Meek, vice- president; J. Leroy Gruver, cashier and treasurer. Newton E. Roher is a director. Mr. Meek was the first cashier. Robert C. Wilson is president of the Altoona Discount Company. The other officers are: D. N. Slep and J. C. Nugent, vice-presidents; Ralph F. Taylor, secretary, treasurer and manager. George A. Wolf, Robert Blair Gable and Robert Eugene Fluke are among the directors of this company. Ralph F. Taylor is experienced in banking, for in 1910 he was employed at the First National Bank of Mt. Union. Two years later he was elected cashier of the Freeburg State Bank. In 1917, he came to Bellwood as cashier for the First National Bank, and in 1922 was made secretary and treasurer of the Altoona Discount Company, where he has remained ever since. Mr. Fluke is a leading local lumber dealer and is also a director of the Altoona Speedway. 250 BLAIR COUNTY HISTORY There have been other banking institutions in Altoona. Numbered among them are: the Real Estate Title & Trust Company, organized in 1900. Later it became the Blair County Title & Trust Company. The Altoona Title Company, organized earlier, merged with it. Eventually it became known as the Blair County Trust Company, but is no longer in existence. TYRONE BANKS In Tyrone the First National Bank was originally known as the Tyrone Bank, and began the conduct of business on April 1, 1871. Early leaders in this enterprise were: William Dorris, G. W. Burket, Caleb Guyer, George W. Garrettson, John Scott, H. G. Fisher, William Orbison, D. D. Wood, George C. Wilkins, Israel Miller and A. B. Hoover. Some of these men lived at Huntingdon, and they sold their interests to the local men. Subsequently, Colonel D. M. Jones and P. Flynn were taken into the company. Caleb Guyer, D. S. Kloss, Dudley H. Burnham and Franklin P. Keller have been cashiers. The bank was chartered as a national bank in 1890 under the National Bank Act. It has commercial, savings, trust and loan departments, and is a member of the Federal Reserve System. The First National Bank of Tyrone employs 11 persons and is a United States depository. It is capitalized at $125,000. John Grant Anderson is a former president. The officers at present are: J. D. Meyer, president; Major J. B. Nason, vice-president; L. L. Garman, cashier; W. L. Gill, assistant cashier; E. R. Cox, trust officer; A. R. Grier, Edwin Stanton Hooker, F. K. Mattern, J. D. Meyer, Nevin N. Miller, J. B. Nason, and George Cunningham Wilson, directors. John Grant Anderson was connected with the West Virginia Pulp & Paper Company of Tyrone and Williamsburg. Nevin N. Miller is president of the Tyrone Fuel & Supply Company, which is the largest concern of its kind in Tyrone. The Blair County National Bank & Trust Company, in Tyrone, is an out-growth of the Blair County Banking Company established in 1874. E. L. Study became president of the bank and held that post until his death. Andrew G. Curtin, Robert A. McCoy, E. C. Humes, S. S. Blair, S. C. Stewart, Stewart Greek, and John P. Harris were men who helped this business to succeed. Robert McCoy was cashier from 188o to 1890 and then the present president, F. K. Lukenbach, succeeded him. On December 12, 1902, this institution was chartered as the Blair County National Bank and adopted the present title, Blair County National Bank & Trust Company, on February 1, 1928. It is privileged to maintain commercial, savings and trust departments in which 14 persons are employed. The capital is $200,000. F. K. Lukenbach is the president, and the other officers are: W. E. Hoffman, vice-president; A. Bernard Vogt, cashier; F. K. Lukenbach, William E. Hoffman, Howard L. Orr, Chalmers Alexander Steel, D. F. Glasgow, C. F. Gillam, all of Tyrone, and C. A. Seeds, of Birmingham, directors. Mr. Vogt has been cashier since 1906 and before that was a clerk. A third Tyrone bank was the Farmer's & Merchant's National Bank. The late Major Luther Crawford was vice-president. Frank W. Acklin has been BANKS AND BANKERS 251 president and is also the owner of the Acklin Jewelry Company, president and director of the Mishler Theatre Company, and vice-president and director of the Tyrone Gas & Water Company. This bank ceased its activities recently. OTHER BANKS Other banks in the county are the First National Bank of Bellwood and the Bellwood Trust Company. David Emmert Brumbaugh is cashier and director of the First National Bank of Claysburg. Lionel Yocum Green and Benjamin Franklin Dively are also directors of the Claysburg Bank. The Morrison's Cove Bank in Martinsburg was established as a branch of the Gardner & Morrow Company of Hollidaysburg, but has been independent long since. John B. and W. U. Skyles, S. B. Fluke, H. S. Burket, George B. Wineland, Jerre Miller, Ira E. Brumbaugh and A. B. Mock were instrumental in its organization. In 1905, the First National Bank of Martinsburg was established with $25,000 in capital stock. C. A. Patterson, S. S. Horton, J. A. Wagner, E. H. Lytle, George D. Paul, J. C. Sanders, Jacob W. Galley and W. M. Bolger were leaders in its development. W. U. Skyles continues to be active in the affairs of the Morrison's Cove Bank. L. H. Holsinger is another Martinsburg banker. Two banks care for the financial affairs of Roaring Spring. They are the First National Bank of which Chester Wilbur Querry is the cashier, and the Roaring Spring Bank, a private institution which was organized in January, 1902. D. M. Bare was active in the establishment of the latter institution. He was assisted in the movement by E. G. Bobb, Edward Hair, Dr. William M. Eldon, Clarence Hair, S. H. Cree, E. C. Korb, Lewis Garber and E. A. Feight, all of whom became stockholders. D. M. Bare served as president until 1916 when he declined to continue in that capacity. Edwin George Bobb was elected to succeed him and has been active in that position ever since. John Elmer Stern is the cashier and a director; Lewis Francis Garber, Clarence Hair, Ivan and Russell Garver are among the present directors. A branch of the First National Bank of Hollidaysburg was established in Williamsburg in 1873. William Jack, of Hollidaysburg, was president and John Clark, cashier. It ceased activities in 1896. In 1909, the Farmers' & Merchants' National Bank was established there. Leaders who were responsible for its organization include: George M. Patterson, John B. Stroup, D. T. Ketring, Jesse Nicodemus and C. R. Fluke. This bank, with the First National Bank, serves the citizens of Williamsburg.