Sharon's Yesterdays & Tomorrow

An Outline of the Growth of Sharon and its Industries....

and a History of the McDowell National Bank, June 1935

History of the McDowell National Bank 

F. W. Koehler, president of the McDowell National Bank since 1913, died in February, 1933, after a long and honorable career in Sharon. He was first engaged in the jewelry business, later becoming associated with the Sharon Steel Hoop Company. Upon resigning from this connection became associated with Frank H. Buhl as confidential secretary and continued in that capacity until Mr. Buhl’s death. After the death of Mr. Buhl in 1918 at the age of 73, Mr. Koehler continued, with Mrs. Buhl, in the management of various charitable enterprises, set up by Mr. Buhl during his lifetime. Mr. Koehler and Mrs. Buhl were also administrators of the Buhl estate. 

After the death of Mr. Koehler, H. B. McDowell became president of the McDowell National Bank. In that office today he is active head of the intuition. 

The men who have figured most prominently in the building up and expansion of the business of the McDowell National Bank have been: James Bleakley, Alex McDowell, F. W. Koehler, W. S. Palmer, John Forker, James A. Wright, Edward Buchholz, Harry Orchard, John R. Willson, Robert  Hannah, John H. Hannah, John C. Owsley, John L. Morrison, all deceased; H. B. McDowell, S. H. Hadley, John S. Bycroft, Jr., John H. Evans, C. W. Harpst, Henry Forker, Jr., S. M. Phillips. L. J. Wiesen, P. C. Gibbons and H. M. Willson. The latter is a former director of the McDowell National Bank. 

The present officers of the McDowell National Bank are: H. B. McDowell, president; J. S. Bycroft. Jr., vice president and cashier; John H. Evans, vice president and trust officer; C. W. Harpst, vice president; R. M. Shontz, assistant cashier; D. Carlton Shilling, assistant cashier; and John Salcau, manager of the Foreign Department. 

The new home of the McDowell National Bank is the fourth location of the bank. The D. C. Strawbridge and James Bleakley Sons & Company banking rooms were located in the brick building at the corner of East State Street and Walnut Avenue. The building is now occupied by the Elite Beauty Shop. “Alex McDowell, Banker” moved his business to the corner of East State Street and North Railroad Street. The building now houses the Merchants & Manufacturers National Bank. 

The Independent Order of Odd Fellows erected the building at the corner of East State Street and Vine Avenue in 1880, and “Alex McDowell, Banker” became the first tenant. When the McDowell National Bank was chartered, in 1907, the business was continued in the same location. This was the home of the McDowell National Bank until the present move into the new building.

In 1914 the bank purchased the I.O.O.F. building, and today it is owned by Chestate Buildings, Incorporated.

The history of the East State Street and Vine Avenue site is of interest. After the Civil War no “hard money” (gold or silver) was in general circulation. In 1878 there was more gold available although business was carried on with paper money. The owners of the East State-Vine Avenue site agreed to sell it for $300 paper money. However, if the buyer would pay in gold the price was to be $275. The I.O.O.F. paid in gold, and “Alex McDowell, Banker,” furnished the gold. 

The combination of the Sharon Savings and Trust Company business with that of the McDowell National Bank, in 1922, made it necessary to have more work space. This was gained by renting the room adjoining the one at East State and Vine. The room was owned by F. W. Koehler, then president of the bank. 

By making some archways the two rooms were made into adequate quarters. However, the arrangement was never entirely satisfactory because of the separating wall, and the inconvenience to customers in getting from one side of the bank to the other. 

Additional space was provided by building balconies in the rear of each room, but as the bank grew, work space again became overcrowded. The bank continued in the location, however, because building prices were too high. 

With the death of Mr. Kochler there was no assurance as to the amount of rent that would be asked for the East room, nor could a long-term lease be obtained. It was necessary for the bank to have permanent quarters, and it was decided to remodel the building at the corner of East State Street and Chestnut Avenue.

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