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 

On August 1, 1934, L. Vasconi & Sons, Contractors, began removal of walls, all floors and partitions in preparation for the building of the new home for the McDowell National Bank at East State and Chestnut.  

Outside walls of the old building were veneered with new brick and stone. Concrete and steel floors were installed, and the cellar was made deeper. Three hundred and thirteen tons of sand and 877 sacks of cement were used in the new building. By retaining the shell of the old building, a stronger and safer structure, with extra thick walls, was obtained, and the cost of construction was considerably reduced.  

Electrical equipment was supplied by the Westinghouse Electric & Manufacturing Company. A subsidiary of the Sharon Steel Hoop Company furnished metal tile and other local concerns supplied various items used in constructing the building.  

The vault in the new building extends from cellar to roof and has four parts, one above the other, each measuring inside, 25 feet by 10 feet. The basement vault of reinforced concrete is for storage of old records. The sate deposit vault in the first floor has walls, ceiling and floor 24 inches thick. Construction was made by pouring concrete through a thatch work of steel.  

Equipped with a modern burglar alarm, the vault is as nearly fireproof and burglar-proof as possible. It compares with the most modern and the safest vaults.  

In the safe deposit vault there are 1600 boxes for customers and adequate security chests for use of the bank.  

The huge safe deposit vault door is round and the solid metal in it measures 14 1/2 inches in thickness. Over all the door is inches thick and weighs 22 tons.

The mezzanine vault is of fireproof construction and is used for bank records and correspondence. The second floor vault is also fireproof and contains book records of the bank and of the Trust Department. All of the storage vaults have strong steel fireproof doors.

Entrance to the bank is through great revolving doors. Incidentally, revolving doors were installed to provide greater safety. In case of a holdup it is more difficult to make a getaway through a revolving door than it is through a swinging door.  

To the left, directly after entering the bank through the State Street entrance, is the Commercial Department. Then come the Collection and the Loan Departments, and the cashier’s office. In the left rear section are the offices of the president and vice president.  

At the right of the main entrance is a rest room for the convenience women customers. Next is the elevator and stairway to the second floor.

Then a spacious department for savings and foreign business is provided, and beyond this is space for the securities clerk, the vault custodian and the telephone exchange Within this enclosure are the safe deposit booths.  

Upon leaving the elevator, or after coming up the stairs, is the second floor lobby, facing the counter and work space of the Trust Department. To the left is the president’s office, and in the northeast corner is found the office of the vice president and trust officer. 

Proceeding down the hall will be found the library and directors’ room, quarters for the general bookkeeper and auditor, and a room for the individual bookkeepers. The last room on the left is occupied by the mailing department and adjoining this is a kitchen where employees prepare their lunches. The kitchen includes a table, stove, sink and cupboards.  

Locker rooms for employees are also found in the second floor. All tile used in the rooms was supplied by a subsidiary of the Sharon Steel Hoop Company.

Since many of those who wish to visit the Trust Department are elderly people it was deemed advisable to make it comfortable and convenient for them to get to the second floor. The elevator is, of course, available to all who wish to reach the second floor.

The elevator is automatic and requires no operator. By pushing the proper button, it goes up or down as wished. It is stopped mechanically. The elevator was built and installed by the Westinghouse Electric & Manufacturing Company. 

A real estate organization, known as the Chestate Buildings, Inc., was organized February 20, 1935. To it was sold the building at East State Street and Vine Avenue and the new building at East State Street and Chestnut Avenue.

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