Jefferson County, Illinois - Chapter 25: Jefferson County Banks and Banking, 1909

Chapter 25: Jefferson County Banks and Banking

Safe Banks with Bank Safes of the Most Approved Patterns. Stocks and Bonds, Bonds and Stocks, Keep your Funds Under Locks. Ham National Bank - Capital Practically Unlimited.

In 1 869, the first bank was opened in Mount Vernon by Carlin. Cross & Company. Jefferson county had long felt the need of a banking institution and there was a feeling of rejoicing when Messrs. Carlin, Cross & Company opened the first bank here in 1869. They did a good business here, but having large interests elsewhere they expressed a desire to sell out their banking interests here. So a company of local capitalists, Noah Johnston, Jeremiah Taylor, J. J. Fitzgerrell, Thomas G. Holland, and C. D. Ham bought the interests of the Carlin, Cross Company and organized the Mount Vernon National Bank, with Noah Johnston as president and C. D. Ham as cashier. After a few years, the national part of the organization dropped out with the death of part of the organizers, and in 1 880 the bank was known as the Mount Vernon Bank of C. D. Ham & Company, and as siich was operated till 1897, when it was again chartered as the Ham National Bank of Mount Vernon, and although Ham has been dead several years it still is operated under that name, and is considered one of the safest banks in the state. All the original incorporators of the bank have closed their accounts and passed over "the divide," the bank is still above par with the business world, and no need of having bank quofornia.

tations as we used to have to know whether the Ham National is all right or not. That goes without saying. At present it is officered as follows: Albert Watson, president; S. B. Ham, vice-president; Louis Pavey, cashier ; C. A. Keller and Earl Hinman, clerks. The bank has been located in the basement of the Odd Fellows hall, corner of Main and Tenth streets and is an institution of which Mount Vernon is justly proud. The private banks at Ina, Ewing, and Ashley have the same president as the Ham National.

Noah Johnston, J. J. Fitzgerrell, and Thomas G. Holland were business men and capitalists of the county. Jeremiah Taylor came to the county in the early fifties as a traveling ambrotype maker and took pictures in the old court-house. Soon after he married the widow of James Ham, of Ham's Grove, and took charge of her extensive farming and store and with the help of the boys, C. D. and O. M. D., who knew no father but Uncle Jerry, succeeded in making money. Father Taylor and C. D. Ham coming to town they engaged in merchandising and also made money, after which they joined capital with the men spoken of above and purchased the Carlin Cross institution, from which has evolved the Ham National Bank. Mrs. Anna Ham and sons are still stockholders in this bank.

The Jefferson State Bank, of Mount Vernon, Illinois, was organized November 20, 1905, with a capital of fifty thousand dollars; William H. Green, president; Dr. J. H. Newton, vicepresident; J. W. Gibson, cashier; V. E. Richardson, assistant cashier.

This bank is managed in a careful, conservative and businesslike manner and while it is the youngest institution of its kind in the county, yet it is one of the safest, and looks forward in the near future when, by reason of its many advantages and through the courtesy of its officers and directors, it will be known as one of the largest.

The state of Illinois has its banks under close supervision and requires the fullest compliance with the stringent laws enacted for the protection of the depositors and its departments are in constant and close touch at all times with the business of the state bank. Under such careful supervision the rights of the depositors are fully protected.

With such officers and directors and with the many advantages offered by a state bank, we predict a prosperous future for the Jefferson State Bank.

Third National Bank

A company of prominent citizens, John R. Allen, A. C. Johnson, D. H. Warren, R. J. Bond, W. C. Arthurs, I. G. Gee Morris Emmerson, L. L. Emmerson and F. E. Patton, who became the directors with others, purchased the Evans & Gee Banking Company and organized the Third National Bank, an institution of which Mount Vernon is justly proud. John R. Allen was chosen president; A. C. Johnson, vice-president; L. L. Emmerson, cashier; F. E. Patton, assistant cashier, and Charles H. Patton, attorney. It was organized with a capital stock of fifty thousand dollars and began business February 4, 1902.

In 1903, this Banking Company purchased the Harvey T. Pace corner, removed the "old land marks" and erected the present magnificent three-story building, in the first floor of which the Third National Bank makes its home, with all the modern improvements of banking. The building is an ornament to the city, the bank oc- cupying the entire first floor, except an office in the west end occupied by the Electric, Light, Gas, Heat & Water Company. The second and third stories contain twenty handsome offices, the whole outfit being lighted, heated and watered from the city light, heat and water plants. It is by far the most prominent and commodious business house in the city, and is continuously and fully occupied by many of our best business men. Other business houses have followed in the wake of the Third National and have taken on the light, heat and water utilities.

In 1905, the Mount Vernon State and Savings Bank was consolidated with the Third National Bank, and its capital stock increased to one hundred thousand dollars and its business greatly extended, until now no banking institution in the state stands higher in the business world than the Third National Bank of Mount Vernon - its present capital stock being $100,000 with a surplus of $65,000; National Bank notes, $100,000; deposits, $603,618.79. Its present board of directors are: J. R. Allen, W. C. Arthurs, R. J. Bond, Sam Casey, L. L. Emmerson, G. Gale Gilbert, I. G. Gee. Rufus Grant, A. C. Johnson, C. E. McAtee, Jerome Mannen, B. A. Marshall, F. E. Patton, J. H. Rackaway, Kirby Smith. Its officers are: A. C. Johnson, president; I. G. Gee, vice-president; C. E. McAtee, vice-president; L. L. Emmerson, cashier; F. E. Patton, assistant cashier; Rufus Grant, assistant cashier.

The Waltonville, Woodlawn and Kell private banks have gentlemen connected with the Third as promoters. The Third National is a government depository.