Page:History of Richland County, Ohio.djvu/507

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��HISTORY OF RICHLAND COUNTY.

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��Soon after he commenced operations, C. T. Sherman made an attempt hi the same direc- tion, and also obtained the requisite amount of stock. According to law, but one branch could be established in a county. Both parties pre- sented their claims to the Board of Control. For some reason, the Farmers' was the one accepted.

The bank was organized August 4, 1847, by the election of J. Purd}', William Granger, Da- vid Anderson. John Shauck and Messer Barker, Directors. James Purdy was elected President, and John Rhodes, cashier. The latter continued as cashier until May 6, 1850, when he resigned, and J. M. Rhodes was appointed. He resigned in 1851, and H. Coll)}' was appointed and contin- ued until the expiration of the charter, and the bank was merged into a national bank. They obtained a circulation of $(50,000. which was more than the business of Richland Count}' then required. When gold was discovered in Cali- fornia, they established a bank in Sacramento, from which they obtained coin. It was shipped to New York and placed to their credit. In the general smash-up in New York in 1857, they sustained a heavy loss of deposits. In 1865, the shareholders of the old bank trans- ferred their stock to the Farmers' National Bank, and Mr. Purdy was elected President, a position he yet retains, making him, probably, the oldest bank president in continual service in the State. The bank passed safely through the panic of 1873, though hard pressed and losing heavily In' the dishonest}' of its cashier. Mr. Purdy has been extensively engaged in other l;)anking" operations outside the city.

In 1852, the Ijanking-house of E. Sturges, Sr.. & Co. started in a little frame, 10x20 office on the corner of Main and Third, where Bige- low's drug store is now located. They after- ward moved into the McFall corner. The part- ners were E. Sturges, Sr., S. B. Sturges and A. L. Grrimes ; S. B. Sturges withdrew in 1859. In 1857-58. Mr. Benjamin Blymyer, C. L. Avery

��and E. Sturges, Sr., & Co. erected the brick block, where Bl3'myer's stove and tin store, and Scatter- good's dry-goods store is, and to which the bank was moved from the McFall corner. Here the}- continued business until 1867, when they con- solidated with the Richland National Bank. This latter bank was organized in 1865, with a cash capital of $100,000, which was increased to $150,000 when consolidated with E. Sturges, Sr., & Co. The officers of the institution were : A. L. Grimes, President ; D. Sturges, Vice President ; J. M. JoUy, Cashier ; R. H. Rowland, Teller. It first started in the old frame building, which was pulled down in the summer of 1879 to make room for the new block of Scattergood, Jenner & Swigart; and, in 1867, was moved into the room occupied by E. Sturges, Sr., & Co. The Richland National closed up its aflfairs, or sold out to the Farmers' National Bank. Janu- ary 1, 1876.

The Mansfield Herald of May 25, 1864, an- nounces the fact of the organization of the First National Bank of ^lansfield, with a cash capital of $100,000, with the privilege of in- creasing to $300,000. A meeting of the stock- holders was held on the 16th of the month, and T. T. Woodruff, W. S. Hickox, B. Burns, H. C. Hedges and L. J. Tracy were elected Directors. T. T. Woodruff was made President ; L. J. Trac}', Vice President; and AY. S. Hickox. Cashier.

The history of this liank is written indelib}' in the memor}' of the majorit}' of Mansfield people. It ran along very smoothh' for nearl}' a decade ; its officers changed occasionally, but its cashier, W. S. Hickox, was always at his post, and was looked upon as a man of high character and business capacit}'. He was a leader in the Sunday school, chm'ch and society ; was trusted and respected b}' the community, and pointed out to 3'oung men as a model, and a shining ex- ample of a self-made man. Older and wiser heads may haA^e been shaken at times, at the displa}- of wealth by the cashier, yet the man

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