Delaware County, Indiana - Chapter 17: Banks the Muncie National Bank, 1881

Bank of State of Indiana, with a capital stock of $100,000. Business opened with the public January 2, 1857, under the management of John Marsh, as President, and J. W. Burson, Cashier, the Directors being William Petty, J. W. Burson, John Marsh, Volney Willson and Edwin C. Anthony. This branch continued till January 28, 1865, when it merged into the Muncie National Bank, the organization it has since retained.

Mr. Burson remained Cashier of the Muncie Branch through its time, and afterward of the Muncie National Bank until his death, September 21, 1871, the vacancy being then filled by the election of the present Cashier, Mr. S. A. Wilson.

Mr. Marsh continued to serve as their President until July 1, 1874, when, having resigned, Mr. F. T. White, President at this time, was elected to the position.

The bank is supplied with Macneale & Urban's best burglar-proof safe, having burglar-proof money-box inside, and one of the Yale timelocks attached to the outer door of safe, thus making it impossible to unlock the same outside of business hours. Furthermore, the safe is secured within a large iron-cased vault, with heavy double-iron doors, this vault being inclosed within a fifteen-inch brick wall, separated by an air-chamber from the inner iron casing.

The bank building, located northeast of the public square, was constructed expressly to combine banking house and residence for the Cashier.

This bank was first organized as the Citizens' Bank November 16, 1874, and re-organized March 15, 1875, as the Citizens' National Bank of Muncie, Ind.

Its original officers were George W. Spilker, President; John Marsh, Cashier; Arthur E. Smith, Assistant Cashier; and William M. Marsh, Book-keeper.

Is located on Main street, south of public square. Uses Hall's patent iron and steel burglar-proof safe, with Hall's patent time-lock attachment. This is also further secured by an iron-cased vault within heavy double-brick walls; air chamber between, resting on a solid base of stone about eight feet deep and substantially covered, thus rendering entire security against fire.

CORTITIET GRICE CLOCK. 515.5. cdebvsncaccsensteccsdsedtescccvpcccescseses $110,000 00 Increased January 4, 1876, t0.......cccccccccccccvvcsccccesscosccees 140,000 00 Reduced March 26, 1879, to present - all paid.............s000 100,000 00 Burplus end Proves... nc. cc desevsccwqedhepereccescedgoccccocccsccses 14,393 05 Amount deposits, November 23, 1880...........seesseceeeeeseceees 270,055 37

Austin B. Claypool, with his brother, A. J. Claypool, from Connersville, Ind., in the year 1871, came to Muncie and opened a brokerage office, establishing also a banking house in the Senate Block on the southeast corner of Walnut and Jackson streets, the capital stock of which was made to represent $20,000. Austin B. became President and A. J. Cashier. This arrangement continued unchanged for a period of about two years, when M. 8. Claypool was admitted as a partner. The three operated together successfully and harmoniously until 1875. At that time, A. B., the senior of the firm, withdrew, A. J. and M. 8S. remaining, conducting as before, a successful, satisfactory business. In 1879, M. 8. Claypool, the youngest of the three, withdrew also, leaving the entire business in the hands of A. J., who has since conducted the affairs of the bank as one of discount and deposit.

At the time of founding this bank, a first-class MacNeale & Urban safe or vault was constructed. At various times since the original construction, it has been improved and strengthened with a view to more perfect security against fire and burglars, as well as for general convenience, until at this time it affords absolute security and gives confidence to depositors, which is strengthened by Mr. Claypool's well-known business integrity and sagacity, and by the known stability of the institution. These considerations guarantee to the people of Delaware County a safe, reliable banking house, as well as an accommodating and efficient financial officer. Hence the bank enjoys a liberal share of the deposits of the city and of the surrounding country. Its original stock of $20,000 remains at this time unimpaired.