CHESTER, - Delaware County PA History

30 CflESTEJ(, PENNSYLVANIA.
The bank was fairly prosperous until J834, when a numbcr of
the bank's redecmed notes got into circulation, and the)' had
to pay them again. This causcd a suspcnsion of dividcnds from
1834 to 1837. The bank recupcrated, howc\'cr, and soon ranked
sccond to no other institution of likc charactcr in thc Statc.
In 1864 the old Delawarc Count)r Bank ceascd as a Statc
institution, and was chartercd as a National Bank. In 1882
thc old bank on :Market Square was razcd to the ground, and
on its cite thc prcscnt magnificent building erccted at a cost of
$50,000. The capital stock of the bank is $300,000, and the
surplus $2 J 5,O. The par valuc of thc stock is $100 pCI'
sharc, and the selling pricc of what little stock has recently
been sold is $246 a sharc.
The present officcrs of the bank arc: Presidcnt, J. H. Roop;
Cashicr, It T. Hall. Directors: David Traincr, John P. Crozcr,
Thomas Applcby, J. O. Deshong', Jr., D. R. Esrey, J. P. Eyrc,
Thomas Scattergood, John M. Broomall, Jr., J. H. Roop.
TilE FIRST NATJOl\AI. BANK.
Thc First National Bank, as its namc indicatcs, was thc
earliest National bank formcd in the city. It was chartcred on
thc J 2th of March, 1864, thc below-namcd gcntlemcn having
signcd articles of association for thc bank: Samuel M. Felton,
Thomas Rcancy, Samuel Archbold, Bcnjamin Gartside, Amos
Gartsidc, Abram R. Pcrkins, L. T. Rutter, Samuel Ecclcs, Jr.,
Jamcs Gartside, and \\Tm. \Vard. Thc bank organized by the
election of Abram R. Pcrkins, prcsidcnt. 50on after its organization
busincss was commcnced in thc building on thc southwcst
corner of Sccond and Pcnn Strects, but the location being
remotc from the business centre of the city, thc present building,
adjoining thc City Hall, was purchased, and has bcen used
to the present time (December, 1888). In August, 1888, the
bank purchased the ground on the southwest corner of Fifth
and Market Strcets, the location being considered one of the
bcst in the city, and at an early day will ercct a handsome and
commodious banking house, suitable to the rapidly increasing
demands of the bank. This institution has becn managed by
intelligent financiers, the venerable ex·Mayor, John Larkin, Jr.,