Ohio County, West Virginia DOLLAR SAVINGS & TRUST COMPANY ************************************************************************** USGENWEB NOTICE: Material may be freely used by non-commercial entities, as long as this message remains on all copied material, AND permission is obtained from the contributor of the file. These pages may NOT be reproduced in any format for profit or presentation by other organizations. Persons or organizations desiring to use this material for non-commercial purposes, MUST obtain the written consent of the contributor. Submitted by Valerie Crook, , March 1999 ************************************************************************** The History of West Virginia, Old and New Published 1923, The American Historical Society, Inc., Chicago and New York, Volume III, pg. 14-15 DOLLAR SAVINGS & TRUST COMPANY, a Wheeling institu- tion, probably the largest in point of financial resources in the state, has a noteworthy history among West Virginia banks. The old Dollar Savings Bank was the first institution of its kind in Wheeling, having been organized in 1887, with Nathan Day Scott as president and P. B. Dobbins, cashier. Other directors were E. Buckman, George Hook, 0. P. Brown, James B. Taney, Alfred Paull, Peter Cassell, W. J. W. Cowden, George Zoeckler, Sr., William Goehring, A. T. Young and Bernard Klieves. The early success of the in- stitution was largely due to the careful guidance of Mr. Dobbins, who lost his life in a railroad accident in 1897. He was succeeded by B. Walker Peterson, who soon after he accepted that post issued a circular that tells some es sential and interesting history: "On the 11th day of April, 1887, the Dollar Savings Bank of Wheeling opened its doors for business and began its mission of encouraging thrift among the citizens by offering them an opportunity to put aside safely small sums of money earning interest, yet avail- able at any and all times. It was the first institution of this kind in Wheeling, and its growth shows that its pro- jectors not only recognized and supplied an urgent public want, but have so judiciously and liberally administered its affairs as to deserve its continued popularity and pros- perity. In its career it has suffered but one misfortune in which the whole community shares—the loss by most untime- ly death of P. B. Dobbins, the founder, whose pet child this institution was and under whose fostering care and strong guidance it has grown to its present sturdy health and proportions. His memory will ever be cherished in the most high and affectionate esteem. And the rule established and exemplified by him in the Dollar Savings Bank, in treating all, from the smallest to the largest depositor or borrower, with unvarying and equal courtesy and consideration, will he strictly adhered to in all its future dealings." The Dollar Savings Bank enjoyed not only inward growth, bnt from time to time has consolidated with it other vig- orous financial institutions. One of these was the old Wheel- ing Title & Trust Company, organized in 1889, with Henry M. Russell as president and Thomas O'Brien, Sr., as secre- tary, the latter soon being succeeded by Louis F. Stifel, who remained as secretary of the Trust Company and later of the Trust Department of the consolidated banks until his death in February, 1913. He was a man of great busi- ness and financial ability, had the faculty of making and keeping friends, and was an able adviser to the customers of the Trust Department. The Dollar Savings Bank was consolidated with the Wheeling Title & Trust Company in May, 1903, at which time the present name of the Dollar Savings & Trust Com- pany was adopted by the latter company. In January, 1918, the City Bank of Wheeling, which was founded by Henry K. List and continued by his family, was consoli- dated with the Dollar Savings & Trust Company, bringing to the institution added resources of great value. At the end of the first year the old Dollar Savings Bank had on deposit $176,000. Twenty-five years later its de- posits aggregated more than $4 000,000, while in May, 1921, the total deposits were considerably over $9,000,000. At that time the resources of the institution totaled more than $12,000,000. As the business and resources of the bank increased its building quarters were from time to time remodeled and enlarged and finally, on August 1, 1911, the company entered its new home, an exclusive bank building, of classic style of architecture, regarded as one of the handsomest and one of the best equipped banking homes in the Ohio Valley. A number of Wheeling's men of most substantial achieve- ments, business integrity and character have served the Dollar Savings & Trust Company as officials or directors. The executive officers in 1921, when the bank celebrated its tenth anniversary in its new home, were: B. W. Peterson, president; N. B. Scott and Bernhard Klieves, vice presi- dents; Robert Hazlett, vice president and secretary; W. H. Tracy, assistant secretary; H. E. Laupp, trust officer; A. S. List, chairman of the Board of Directors. Other directors were: W. H. Abbott, Dr. G. Ackermann, J. A. Blum, J. C. Brady, D. A. Burt, Charles H. Copp, H. E. Fields, Dr. W. S. Fulton, Kent B. Hall, J. B. Handlan, Andrew S. Hare, Edward Hazlett, Robert Hazlett, Nelson C. Hubbard, D. C. List, Jr., George Maxwell, Charles Menkemeller, Lee C. Paull, T. S. Riley, Joseph Speidel, Jr., W. E. Weiss, N. P. Whitaker, B. B. Kitchen and John J. Jacob.