|
Mercer County PAGenWeb |
||
Places McDowell National Bank |
||
|
|
The McDowell National Bank of Sharon
had its inception in the private establishment of D. C. Strawbridge, who opened
for business in that place, May 1, 1868. Early in 1870 the business
passed to the control of James
Bleakley, Son & Co. At this time Alexander McDowell, the company
in the above title, assumed the management and the history of the
McDowell Bank began. In 1873 Mr.
McDowell purchased the interest of his partners and the
title became Alex. McDowell,
Banker. The strength of the bank was fairly tested by the panics and
related depressions of 1873, 1884 and 1893, always meeting the
emergencies with conspicuous strength. In July, 1907, the bank took out
a National charter with a capital of $150,000 and surplus of $30,000
and the following officers and directors:
A. McDowell, president; F.
W. Koehler, vice president; H.
B. McDowell, cashier; John
R. Willson, Walter S. Palmer, James A. Wright, Edward Buchholz
and John L. Morrison,
which board was put to a severe test immediately in the panic and
depression of 1907-8, showing marked strength in their conduct of
affairs. Since organization as a national bank the following changes
have been made: Mr. Morrison, owing to continued absence from Sharon,
was compelled to resign from the directorate and P. C. Gibbons was chosen to
fill the vacancy; the surplus fund has been increased to $40,000. The
bank is primarily a commercial bank but has facilities for savings and
safe deposit. Twentieth
Century History of Mercer County,
1909, pages 228-229 |
McDowell National Bank of Sharon, 1930s
McDowell Bank Token,
Sharon's Yesterdays and Tomorrow... a History of Sharon and the McDowell National Bank
|
