Читать книгу History of Western Maryland - J. Thomas Scharf - Страница 4

In 1787, owing to the large amount of " Continental money" which had been issued during the Revolutionary war, and which had depreciated to such an extent that it became almost worthless, gold and silver became very scarce, in fact, almost disappeared from circulation. The House of Delegates of Maryland in order to relieve the stringency passed a bill for the emission of a large amount of paper money. It excited the community very much, as it was calculated to unsettle all the fixed values of land, houses, and stock, and other property in the State and county. The Senate rejected the bill as fraught with much mischief. At a meeting held at Frederick Town, which was largely attended, in February, 1787, the following action was taken:

"Henry Williams, Secretary."

"Frederick County, Feb. 14, 1787.

"At a respectable meeting of the inhabitants of Frederick County, held at Frederick-Town this day, at the request of their delegates, expressed by public advertisements; the abstract of the bill for an emission of paper money on loan, published by the House of Delegates with their address thereon; the message of the Senate accompanying the return of that bill, and their message of the twentieth of January being read, Thomas Sim Lee, Esq., in the chair, and Henry Williams, secretary, the following Resolves were entered into.

" This meeting having taken under consideration the abstract of the bill for an emission of paper money on loan, together with the address of the House of Delegates, are of opinion that an emission of paper money on the plan proposed would not be attended with any real advantage to the people of this country, or the community in general, but that it might ultimately plunge us into disgrace and ruin, by adding to the evils we already suffer.

" Therefore, Resolved, That it is the opinion of this meeting, that the Senate acted wisely in rejecting the bill in question, that the reasons assigned on the subject in their message to the House of Delegates clearly evince to us the propriety of their conduct, and proves that in their deliberation they possessed a firm regard for the welfare and happiness of the people at large, as well as for the dignity and honor of the State, which justly entitles them to the approbation and thanks of their constituents.

" Resolved, That this meeting highly approve of the conduct of three of the delegates of this county, in opposing the passage of the said bill, and that it is hereby recommended to the other delegate who voted in favor of it, to co-operate with them in the opposition should a similar bill be introduced at the next session.

"Resolved, That this meeting approve of the conduct of the Senate, in rejecting the bill for the relief of debtors; which we conceive would have had a direct tendency to destroy confidence between individuals, pervert the streams of justice, and give a fatal stab to our commercial interests.

" Resolved, That we also approve of the conduct of the Senate, in refusing the bill for suspending the law which justly secures permanent salaries to the chancellor and judges agreeably to the spirit of the constitution.

"Resolved, That it is the ardent desire of this meeting to see our excellent constitution preserved inviolate, it being happily calculated to diffuse the blessings of freedom and to secure equal rights — and therefore we are of opinion that every attempt made by either branch of the Legislature to infringe any constitutional privilege of the other ought to be discountenanced.

" Resolved, That it is the opinion and wish of this meeting that every reasonable exertion should be made by the Legislature at this critical period to succor and strengthen the Federal government of the United States, as well as the government of this State; that we will cheerfully render our assistance as far as our circumstances will admit, and that we have full confidence the necessary aids may be afforded without adopting oppressive measures, while the produce of our land sells for its real value in specie, provided the resources of the State are called forth and judiciously applied.

" Resolved, That this meeting will pay due obedience to the laws, and will endeavor to preserve good order in the community.

" Resolved, That this meeting will further make known our sentiments to our immediate representatives on the subjects proposed for our consideration by instructions.

"Resolved, That the chairman be requested to sign the proceedings of this meeting, and that they be published in the Maryland Chronicle, and Baltimore Journal.

" Thomas S. Lee,

" Chairman.

It will be seen from the foregoing that the businessmen of Frederick had thoroughly mastered the leading principles of a sound system of finance, and to the continuous application of similar rules and methods through a long series of years the community in large measure is indebted for its present prosperity. To the banks of Frederick, indeed, the city may be said to owe its existence, for had it not been for them Frederick would in all probability have been burned by the Confederate forces during the advance into Maryland in 1864. Concerning this event the late Jacob Engelbrecht, in his diary, says, —

"Our old city of Frederick was captured by the rebel forces under Gen. Jubal Early on Saturday, July 9, 1864. They first entered about six o'clock a.m. from the west. We had no army to protect us except two or three thousand, while the rebels had from ten to fifteen thousand men. Gen. Early levied a contribution on the city of two hundred thousand dollars, which I am told was paid on Saturday."

The money was obtained from the banks, and the corporation became responsible for its payment. Thus by their assistance was averted the threatened destruction of the city at the hands of the enemy. The amounts contributed by the several banks were in proportion to their capital stock. By act of Legislature in 1865 it was provided that one-half of the amount loaned should be reimbursed with interest. As they were all in a sound condition, the unexpected assessment in no way affected their solvency or credit. The banks of Frederick, indeed, are remarkable for the systematic and careful manner in which their affairs are managed.

Ezra Houck is remembered now and will be long remembered as a prominent figure in the list of Frederick City's eminent financiers. For forty-six years he was closely associated with the administration of the affairs of the Farmers' and Mechanics' National Bank, and for many years previous to his death he was a director in that institution, as well as its president from 1872 until he died in 1878. He was born in Frederick City, July 30, 1802. His father, George Houck, was born in Frederick County, Md., in 1775, and died in the county in 1867, aged ninety-two years. His grandfather came to Maryland from Germany during the latter half of the eighteenth century, and took a place among the pioneers of Frederick County. Ezra Houck's early school education was limited to a brief season at the Frederick Academy, and comprised in its benefits to him but little more than the rudimentary elements. While yet a school-boy he exchanged his school life for a life upon his father's farm, located a few miles from Frederick. There he spent a few subsequent years in rural pursuits, but at the age of twenty returned to the city and took service in the county clerk's office. In 1826 he married Catharine, daughter of Jacob Bentz, of Frederick County, and upon his marriage removed to his father's old farm, where until about 1832 he employed his time and energies in the cultivation of the soil. In the year named he determined to abandon farming, and accordingly removed to Frederick, where he entered the Farmers' and Mechanics' Bank as book-keeper, having meanwhile briefly occupied the bench as judge of the Orphans' Court. From the day he entered the bank until the day of his death he devoted himself closely and unceasingly to its affairs, to the exclusion of participation in any other business interests. He was for many years a director of the bank, vice-president for a few years previous to 1872, and in that year succeeded Dr. William Tyler as president of the institution. His administration was conspicuous for the display of a signal ability, and until his death, April 8, 1878, he was the bank's president. Business interests were to him such absorbing matters that he steadily declined to take a prominent part in the conduct of public concerns, albeit he was frequently chosen as alderman. He was, moreover, president of the Mutual Insurance Company, and of the Frederick and Woodsborough Turnpike Company. He was one of the founders of the Junior Fire Company, and for some years its president. He was during life a zealous member of the Reformed Church, and long one of its elders. In the erection of the present fine Reformed church edifice he acted as a vigorous member of the building committee.

In politics he was a stanch Democrat, and affiliated with the Democracy always. Mr. Houck's children numbered eleven, of whom nine are living, six daughters in Frederick City and three sons, Ezra, George, and James, upon their farms in Frederick County. Ezra lives upon the old homestead near Frederick City. Mr. Houck's home in the city was the stone mansion now the residence of his widow, with whom his marital companionship covered the extended space of fifty-one years. That mansion is reputed to be a hundred years or more old, and to have known as occupants but three families during all that time, although it has never been vacant.

Following are sketches of all the banks of Frederick, given in the order of their formation:

The Central National Bank was organized in 1808 as a branch of the Farmers' Bank of Maryland, whose principal office was located at Annapolis. The Frederick branch gradually became so prosperous that it determined to sever its connection with the Farmers' Bank, and accordingly it obtained a charter as the Central Bank, Jan. 2, 1854. It was organized as a national bank May 15, 1865. The officers are: President, Richard H. Marshall (for many years one of the judges of the Circuit Court); Cashier, Henry Williams; Directors, Richard H. Marshall, George M. Potts, Lewis M. Thomas, Wm. Downey, Wm. S. Meiller, Fairfax Schley, Chas. W. Ross, John A. Lynch, Wm. G. Baker, and Wm. J. Worman. The following are the predecessors of the above-mentioned presidents and cashiers: president from 1808 to 1831, John Tyler; to 1850, Wm. Ross; to 1858, Richard Potts; to 1859, Wm. B. Tyler; to 1878, R. Y. Stokes. Cashiers: from 1808 to 1830, Thos. Shaw; to 1838, J. McPherson; to 1848, Cyrus Mantz; to 1861, Godfrey Mantz; to 1875, P. Storm; to 1878, P. M. Englebrecht. Mr. Wm. H. Miller is the teller, a genial and accommodating gentleman, as well as an energetic and reliable businessman. The bank's New York correspondent is the Park National Bank. In the adjustment of the Confederate loan the bank lost $27,000. The building owned and occupied by the bank is of brick, and is strong and substantial in appearance. It is pleasantly and centrally located, and is a very valuable property. The bank has a capital stock paid in of $200,000, a surplus fund of $40,000, and $10,546.61 of undivided profits.

The Farmers' and Mechanics' National Bank was organized in 1817 as a branch of Westminster Bank, with the well-known Dr. Wm. Tyler as president, which position he retained for fifty-five years, until his death, April 26, 1872. The beneficial results of his management have been amply demonstrated by the unusual success which has attended the operations of the bank. In 1828 the institution received its charter as an independent concern, to be known as the Farmers' and Mechanics' Bank of Frederick County. Continuing the policy upon which it was first conducted, the institution developed steadily in the volume of business and in strength and stability. In July, 1865, under the national banking act, it became the Farmers' and Mechanics' National Bank. Upon the death of Dr. Tyler, Mr. Ezra Houck, who had been connected with the bank for forty years, accepted the presidency, and directed the affairs with ability until his death, April 8, 1878. His successor is Col. Chas. E. Trail, a highly-respected citizen of Frederick. The high business standing of the institution and the fact that it has not paid less than twelve per cent, dividends since 1862 provide a sufficient commentary upon Col. Trail's qualifications as a financial manager. Mr. Samuel Nixdorff has performed the duties of cashier with tact and discrimination since 1877. His predecessors have been Ezra Mantz, Wm. M. Beall, Thomas W. Morgan, Thomas M. Markell, and John Wm. Bierly. The directors are Col. Chas. E. Trail, George Markell, A. H. Hunt, V. S. Brunner, W. Winebrenner, C. Staley, Samuel H. Brown, Wm. F. Johnson, Hon. M. G. Urner, George S. Groshon, Joseph G. Miller, and Philip Reich. By the Confederate raid the bank lost $17, 000. Its New York correspondent is the Park National Bank. The bank is centrally located, and is a very popular institution. It has a capital stock of $125,000 paid in, a surplus fund of $40,000, and undivided profits to the amount of $22,560.79.

Charles Edward Trail, president of the Farmers' and Mechanics' National Bank, has all his life been a resident of Frederick City, where he was born Jan. 28, 1826. His paternal ancestors emigrated to America from Scotland more than a century and a half ago, and, with his maternal ancestors (the Ramsburgs), were numbered among the earliest settlers and founders of Frederick County. Their descendants have contributed largely to the peopling of the Frederick and Middletown Valleys, and to-day are numerous among the representative people of that section of the county. Mr. Trail's father (Edward) was born in Montgomery County, Md., in 1798, and died in 1876, aged seventy-nine, leaving his widow, Lydia Christine (Ramsburg), to survive him. She was born in Frederick City in 1802, and is still a resident of her native place, hale and active, at the age of eighty.

In 1851, Mr. Trail married Ariana, youngest daughter of Col. John H. McElfresh and Theresa Mantz, whose ancestors, the Mantzes, coming from Germany, were prominent in Frederick County's early settlement. He received a classical education at Frederick College, and in 1847 entering upon the study of law with Joseph M. Palmer, was admitted to the bar in 1849. Ill health compelled him to abandon his law practice after three years of arduous labor, and in 1851 he sought the recreating influences of a European tour. Upon his return he devoted himself to the care of his large landed interests, which embraced the ownership of a half-dozen of the most fruitful farms in Frederick County. In 1860 he was chosen president of the Isabella Gas Company, and became eventually the sole owner of the property of that corporation. In 1863 he was elected a member of the House of Delegates, and in 1864 to the Senate, in which body he served until 1867. Although urged to stand for a senatorial renomination, he declined.

Desiring a reform in the municipal administration of his native city, Mr. Trail successfully originated, in 1870, a movement in which he bore a large share as president of the board of aldermen for three years. During this time the present fine city hall was erected, Mr. Trail being chairman of the building committee. As a member of the board of trustees of the State Deaf and Dumb Institute, he was mainly instrumental in the adoption of the fine design for that edifice, and as chairman of the building committee, performed his duties to the entire satisfaction of the board and the Legislature of Maryland. In 1870 he became actively interested in the construction of the Frederick and Pennsylvania Line Railroad, and after serving as director for several years, was in 1878 elected president of the road. That position he still occupies. In 1876 he was called to be the president of the board of trustees of the Frederick Female Seminary, an institution under the supervision of the State. In 1878 he succeeded Ezra Houck as president of the Farmers' and Mechanics' National Bank, which under his prudent management enjoys a very high reputation, and is most successfully conducted.

In 1877 he was severely injured in a railroad collision, in which a number of persons were killed, but after several months' confinement entirely recovered.

Mr. Trail's inclinations have always been of a literary character, and in early manhood he was a frequent writer for the press and for the leading magazines of that day.

He built in 1855 a residence, then very far in advance of the prevailing architecture of Frederick, but the example he set bore bountiful results in its subsequent emulation by others and the present high standard of building improvements in the town. His children, three sons and four daughters, are all living. Id religious faith he is an Episcopalian. Previous to the late civil war he was a stanch Whig, stood firmly for the Union during that struggle, and since then has sustained the principles of the Republican party. To the cares and ambitions of a busy life he has added the useful purposes of a public-spirited citizen, and enjoys the satisfaction of occupying a prominent place among the promoters of the public welfare.

The Frederick County National Bank is justly ranked among the most solid financial institutions of Frederick County. Organized in 1818 as a State bank, its early affairs were conducted with marked ability. Its presidents were John Graham, 1818; John P. Thompson, 1833; A. B. Hanson, 1850. Its cashiers were George Baer, 1818, who had previously represented his people in the United States Congress; Henry Doyle, 1833; William B. Tyler, 1842; L. J. Brengle, 1845; Henry Schley, 1845; John H. Williams, 1850. Under these several managements the bank was enabled to disburse large earnings as dividends to its stockholders. Its management at the present time consists of the following officers: President, John H. Williams, elected in 1867, having rendered valuable services as cashier for seventeen years previous; Cashier, Perry B. McCleery, who was appointed at the same time; Directors, Lewis Bruner, Z. T. Gittenger, G. B. Hammond, P. L. Pyler, Calvin Page, John T. Quynn, C. C. Smith, John H. Williams, and J. Alfred Ritter. This bank suffered a loss, with its contemporaries, from the invading Southern army to the extent of twenty thousand dollars. Its principal New York correspondent is the Importers' and Traders' National Bank. The building owned and occupied by the bank is attractive in appearance, and is well located on the principal street of the city. The interior appointments are exceptionally well arranged and substantial. Under its present management the bank is in a thoroughly healthy and prosperous condition.

It has a capital stock of $150,000 paid in, a surplus fund of $50,000, and undivided profits amounting to $9823.78.

The Frederick County Bank was entered on the last Saturday night in May, 1841, and robbed of nearly one hundred and eighty thousand dollars in specie, bonds, and notes. The specie taken was entirely in gold, and consisted of eagles, half-eagles, sovereigns, etc. Maryland six per cent, bonds, numbered from 1113 to 1118, inclusive, were also stolen, which, with the coupons attached, amounted to sis thousand dollars. The rest of the plunder consisted of two certificates of six per cent. Maryland stock of three thousand dollars each, and two of four thousand dollars each, and eleven five per cent, sterling bonds of the State of Maryland, numbered from 865 to 875, inclusive, amounting to twelve thousand two hundred and twenty-two dollars. The notes of the bank taken were of the denominations of 15, $10, $20, $50, and $100. Some fifty thousand dollars in silver which was in the vault remained untouched. The institution for a few days ceased doing business, and a statement from its affairs was as soon as possible laid before the public. The capital was but one hundred and seventy-five thousand dollars, so that the robbers took more than the actual capital of the institution. A key was found in the creek, near the city mill, on Sunday morning following the robbery. A dark-lantern of rude construction was also discovered. The key was filed off and filled up until it was made to fit the lock of the exterior door of the bank quite as well as the key which belonged to it. The lamp did not appear to be the production of an experienced workman, and looked as if it had been in service before. Two men were seen taking a box to the corner of the bank, where they seated themselves on the box, for the purpose, it is supposed, of keeping watch while the robbers were progressing with the work. A spur with the straps broken was found in the vault.

The progress of the robbers was impeded by seven locks, some of them of the most complex construction. The street-door must have been entered before, and the men doubtless worked for some weeks in discovering the secret springs in the three locks of the vault, and in taking impressions for the purpose of making suitable keys. All the contents of the iron chest in the vault were taken without any discrimination, including some of the issues of the Frederick corporation, notes that were laid aside as unfit for use, being worn out, etc. Of the silver, none of which was in the chest, they took but ten dollars.

Mr. Doyle, the cashier, swore to a statement, made before Judge Shriver, of the manner in which he always kept the keys of the institution, etc., and testified that when he went into the bank on Monday morning he found nothing disarranged, and was not made sensible of the robbery until, during the course of the morning, he opened the iron chest in the inner vault and found the contents gone. An extra from the Frederick Herald office said, " We would advise the public not to sacrifice their notes, as they will doubtless be paid in full," and in another paragraph offers to take them in payment for accounts at that office.

Nearly the whole amount of which the bank was robbed was recovered through negotiation by letter between the attorney of the robbers at New York and the officers of the bank. This correspondence was commenced by the attorney, who made a proposition in behalf of his clients, to which the officers were disposed to accede if nothing better could be done. Accordingly, Dr. Tyler and Mr. Beall, directors of the bank, proceeded to New York during the week, and there concluded the negotiations with a compromise which, it is stated left the rogues in possession of all the gold they carried off, some ten thousand dollars, and nine thousand dollars paid by the bank for the recovery of securities and notes amounting in value to upwards of one hundred and sixty thousand dollars. The particulars of the negotiation are given as follows:

"Some three or four weeks after the robbery the officers of the bank received a communication, postmarked Philadelphia, consisting of a sheet of letter-paper, on which were pasted printed letters, words, and phrases clipped from a newspaper, and so placed as to form intelligible sentences.

"At the head was an advertisement that had been published about five years previous, showing by what means the robbery of a jewelry-store had been compromised in New York. Beneath this was a communication, made up partly of words, but chiefly of letters, proposing negotiations for the return of the money and securities stolen, which, if the bank was disposed to enter into, it was to signify the same by an advertisement in the Now York Courier and Enquirer, This proposition ended with the adage, ' Delays are dangerous.' On the margin the following laconic and significant hint was displayed, ' Wanted, $62,000!' Upon the receipt of this letter Officer Ridgely was sent for, and it was given into his possession by the officers of the bank. He took it to Philadelphia, and having consulted with High Constable Young, it was resolved to await another move. Soon after a publication appeared in the New York Herald reflecting on the officers of the bank, and a communication followed, postmarked Philadelphia, which referred to the article in the Herald, and suggested the means of showing to the world that the robbery was not committed by the officers of the bank. In order to prove that the real robber was the correspondent, this communication was accompanied by a correct sketch of the front-door key of the bank. This letter was also referred to the officers, Ridgely and Young, and the latter suggested the propriety of waiting a little longer before any action was taken, at the same time expressing the confident belief th.at the communication would speedily be followed by a letter from a lawyer. This opinion the officers delivered to the officers of the bank, with the request that if such a letter be received information should be given to them, and they would at once take measures that would insure the recovery of the money and the apprehension of the thieves. This the bank, it is stated, pledged itself to do.

" Nothing definite or satisfactory resulted until the 19th of June, when the following letter was received, postmarked New York City:

"'New York, June 16, 1841.

" 'H. Doyle, Esq.:

" ' Dear Sir, — My aid and assistance have been asked with reference to the loss of the Frederick County Bank on the 22nd of May last. If you, or the president, or some person acting for the bank, could have a personal interview with me I have no doubt I could arrange matters in a satisfactory manner. It would afford me great pleasure to be the means of effecting a restitution of the heavy loss which the bank sustained on that occasion. Respectfully yours,

" 'William Wiley.'

" ' P.S. — I can be seen personally or a letter may be addressed to me at 47 Howard Street.'

" Upon the receipt of the above the board of directors appointed Dr. William Bradley Tyler and William A. Beall, of Frederick, both stockholders in the bank, to proceed to New York, with a view of conferring with Mr. Wiley, and gave to these two gentlemen a power of attorney to receive the funds, and pay the reward according to the amount given, if they should prove successful. Dr. Tyler and Mr. Beall on the same day started for the city of New York, and arrived there on the ensuing night about eleven o'clock. Karly on Monday morning Mr. Wiley was seen by the agents of the bank, who found him engaged in the duties of his office, which were those of an associate justice of one of the inferior courts of the city of New York. He was also a lawyer, practicing in the courts of that city. The agents were received by Mr. Wiley with the assurance that no difficulty should be thrown in the way of a speedy recovery of the plundered funds of the bank. Mr. Wiley requested the delay of a few days, as the individual professing to know something about the funds was absent .at the South, Nothing was heard until Wednesday evening, when Wiley called on the agents, who agreed to pay eight per cent, for the restoration of the lost issues of the bank. Wiley went away, and in the morning notified the agents that he would accept their offer. It was still not in his power to say on what day they could come into possession, but pledged himself to deliver the notes and securities at the earliest possible moment. Nothing more was heard until Saturday morning, when Wiley called on Messrs. Tyler and Beall saying that he was prepared to deliver the property of the bank. Mr. Wiley then went to the New York Bank, and in the presence of Mr. Beall requested the cashier to go with them and assist in counting the money. He also procured the aid of Mr. Hearn, respectable merchant in Broadway, as. they passed along. The place of appointment was a front room in the hotel standing on the corner of Broadway and Howard Streets, where they all assembled, viz.: Dr. Tyler, Mr. Beall, Mr. Wiley, Mr. Seal (clerk to Mr. Wiley's court), Mr. Halsey, cashier of the New York Bank, and Mr. Hearn, the Broadway merchant. Mr. Wiley then left the room for a few minutes, and returned with a leather valise, which was found to contain the recovered funds, all sealed up in a single package. The envelope was opened, and the money counted by the above-named gentlemen. This took place on Saturday morning. After the counting was finished the funds were delivered to Messrs. Tyler and Beall, who paid Mr. Wiley the percentage on the issues as agreed on, and by the evening cars they returned home with their lost treasure. The bank again commenced business. The robbers kept in their possession $10,049 in gold, $7052 in notes and bills, $2500 of canal scrip belonging to individuals, $1542 in Frederick County bank-notes, in all $21,143. In the transactions leading to the recovery of the money there was no promise of indemnity or impunity, no pledge to relax the efforts of justice, no intimations that exertions to apprehend the robbers and bring them to punishment would be in the slightest degree diminished, no permission to keep the funds not delivered, and, in a word, no compromise of any kind was made, nor was anything done or said by the agents of the bank that would not bear the test of public scrutiny. Wiley, the agent for the robbers, would give no information further than that the vaults were opened by false keys, and that six persons were concerned. The bank withdrew all former rewards, and offered a reward of five thousand dollars for the detection of the robbers and twenty per cent, for the recovery of the residue of the money, but it does not appear that anything was ever accomplished in that direction."

The Frederick Town Savings Institution was chartered March 7, 1828. Its name convoys very clearly the main object of its organization. That the design of its founders has been realized in a marked degree may be readily inferred from the very favorable report of 1881. It carries on a legitimate banking business in loans, discounts, deposits, collections, and exchange, and the ability of the management is shown in the fact that it annually pays from its earnings as dividends to its stockholders about eight per cent. Special deposits are received, on which three per cent, is allowed. The officers are: President, Lewis Markell; Secretary, George H. Wolfe; Directors, Lewis Markell, Dr. L. H. Steiner, Joseph Cronise, N. D. Haner, M. E. Doll, H. W. Bentz, George Metzger, George W. Miller, and Steiner Schley. From the organization up to the date of the present management the following have served as president and secretary, viz.: Presidents, Jacob Baer, 1828; Stewart Gaither, 1831; W. S. McPherson, 1831; William J. Ross, 1844. Secretaries, John McPherson, 1828; David Steiner, 1831; Daniel Hughes, 1832; George Engelbrecht, 1833; Lewis Ramsburg, 1842; B. A. Cunningham, 1865; Lewis V. Scholl, 1875. Under their management the bank has always held a prominent place among monetary institutions, and its solvency and good standing has never been doubted. In July, 1858, this bank made a change in its method of transacting business. Interest was no longer allowed on larger deposits than five dollars. The receipt of weekly deposits was discontinued, but special deposits were received, to be withdrawn after a given notice from the bank. This institution was the largest loser of any in the city by the requisition of the Confederate troops in 1864, for in making a settlement with the corporation it was found that the bank was " out" forty-one thousand dollars. The Baltimore correspondence is mostly carried on with the National Mechanics' Bank. Mr. Markell, the president, is a wealthy and prominent citizen of Frederick, and possesses the confidence and respect of the entire community, while the secretary, Mr. Wolfe, who was formerly connected with the Union Bank in Baltimore, is a skillful financier. With a working capital of six hundred thousand dollars, and under the management and direction of such officers and managers, the signal success that has attended the career of the Frederick Town Savings Institution becomes readily accounted for, and a future of equal prosperity and usefulness would seem to be assured.

The Franklin Savings-Bank received its charter in 1856, and passed successfully through the great financial crisis of 1857. For eighteen years David Markell conducted the affairs of the bank as president, being succeeded by Andrew Boyd in 1874. Mr. Boyd served in this capacity for three years, and was succeeded by the present executive officer, A. D. O'Leary, who has had long experience in monetary affairs. William H. Nicodemus, the efficient secretary, has held this position for five years. His predecessors have been Andrew Henderson, previous to 1874, and William M. Hardt for the next year. No interest is paid on transient deposits, but special deposits are received, on which three per cent, is allowed. Weekly deposits become stock in six months, and dividends are disbursed on these. The demand by Early, in 1864, cost the bank nineteen thousand dollars. The bank's working capital is $200,000. Its Baltimore correspondent is the Third National Bank. The directors are well-known and prominent citizens, as follows: John H. Keller, A. J. Wilcoxon, A. L. Eader, A. T. Rice, James Hergesheimer, Henry E. Hanshaw, G. W. B. Shreiner, Henry D. O'Leary.

The First National Bank was incorporated under the National Banking Act of 1865, with a capital stock of 1100,000, and during its entire career has been rated among the best-managed monetary concerns in the country. So successful has it been that it has paid its stockholders a yearly dividend of twelve per cent., and has per its last report a surplus and profits of $30,629.28. The management has undergone comparatively few changes. Its first president, Lawrence J. Brengle, filled that position until his death, in 1874. His successor, Thomas Gorsuch, the cashier during the first nine months of the bank's existence, was elected a representative to the General Assembly, and was for some time assessor of internal revenue, and for six years previous to 1879 was clerk of the Circuit Court. Mr. Gorsuch still holds the position of president. In the last campaign (fall of 1881) he was the Republican candidate for comptroller of Maryland, but was defeated by Thomas J. Keating. The cashier is Thomas Markell, one of Frederick's most active businessmen. Ira Tyler has held the position as teller since Jan. 1, 1867, to the entire satisfaction of all connected with the bank. William K. Zimmerman has been the discount clerk for ten years past. The board of directors is composed of Thomas Gorsuch, Charles B. S. Levy, Lycurgus E. Hedges, William H. Falconer, George Joseph Doll, Charles J. Lewis, Joseph Rousten, John L. Nicodemus, and George Houck. Its New York correspondent is the Park National, and its Baltimore correspondent the First National. The bank has a capital stock paid in of $100,000, a surplus fund of $20,000, and undivided profits amounting to $10,629.28.

Among those who are identified with private banking interests of Frederick City may be named Thomas Clagett, who was born in Clarksburg District, Montgomery Co., Md., April 21, 1813.

Ninian M., his father, was a native of Maryland, being born in 1768, in Prince George's County. He married, after removing to Montgomery County, Margaret Burgess, daughter of Edward Burgess, a captain of the Continental army. He died in 1841, at the residence of his son Thomas, aged seventy-three years. She died about 1844, aged about seventy-two years.

Thomas Clagett moved from Montgomery to Frederick County in 1839, in Urbana District, and came to Frederick City in 1866. His maternal grandfather, Edward Burgess, was one of the first judges of Montgomery County. Several of his ancestors were prominent officials in the early days of Western Maryland. The Clagett family is of English, and the Burgess of Scotch descent.

Thomas Clagett married, in 1837, Cynthia Norwood, daughter of Thomas Norwood, a native of Frederick County, Md., but of English descent. She was born April 25, 1815. Born of this union were the following children: Edward Thomas, Jan. 16, 1838, he went South during the civil war, and was never heard from; Sarah Ann, Sept. 30, 1839, married Henry O. Talbott, of Poolesville, and lives in Charlestown, Jefferson Co., W. Va.; Jane, born July 25, 1841, married Thomas N. Harwood, of Frederick County, and now living in Frederick City; Rebecca, born March 19, 1843, living at home with her parents; William Henry, Dec. 27, 1844, married to Jane Prater, of Greenville, Bond Co., Ill., where he now resides; Margaret B., born Sept. 26, 1846, married Charles T. Remsburg, a farmer of Middletown Valley, Frederick Co., Md., where she now resides Louisa, born Oct. 6, 1848, married to S. Theodore Stauffer, of Walkersville, and died Feb. 18, 1870 Jesse, born May 15, 1851, married to Mary S. Price daughter of Thomas W. Price, of Philadelphia, Pa. and resides in Baltimore; Mary, born Aug. 14, 1853 married to Dr. Edward Bowlus, of Middletown, now of Frederick; Samuel M., born Aug. 12, 1857, living with parents.

Mr. Clagett's boyhood, and in fact the greater portion of his life, was passed in agricultural pursuits, except from 1835 to 1838, when engaged in a mercantile business in Damascus, Montgomery Co. From 1838 until 1866 he was an extensive and successful grower of tobacco, being one of the largest shippers to market of " up-country tobacco" in the State during those years, and since 1866 he has been engaged as a banker and broker in Frederick City; never has been an office-seeker or office-holder.

Of Mr. Clagett's four sisters and one brother none are now living. Rebecca, Ann, and Jane married and moved to Ohio, where they died; Mary died young, about 1821, aged sixteen; John was born Nov. 28, 1815, and died about 1829.

The Mutual Insurance Company of Frederick County was incorporated by an act of the General Assembly passed at its December session, 1843, with the following incorporators, viz.: William J. Ross, Patrick Tormey, Lawrence J. Brengle, Lewis Medtart, Zachariah T. Windsor, Edward Trail, Hugh McAleer, William H. Albaugh, Calvin Page, Francis Leuber, Ezekiel Hughes, David Boyd, Joseph Deck, John Wilcoxon, William F. Johnson, John Ramsburg, Philip Hauptman, Robert Boner, George Hoskins, George Dertzabaugh, Baldwin Albaugh. Its object was to insure against loss or damage by fire their respective dwelling-houses, other buildings, merchandise, household furniture, and other property.

On May 7, 1844, the following directors were elected: Lawrence J. Brengle, president; Patrick Torrney, secretary and treasurer; and David Boyd, Lewis Medtart, Z. T. Windsor, William H. Albaugh, Calvin Page, Edward Trail, William J. Ross, Hugh McAleer, Francis Leuber, Ezekiel Hughes, directors. It has been in successful operation twenty-eight years, and annually writes the insurance of a large part of the best property of the county.

Its directors for 1881 (elected in May) are George Markell, president and treasurer; Philip Reich, Calvin Page, George W. Delaplane, James McSherry (counsel), David Frazier (agent), Francis Markell, Charles E. Trail, Joseph Cronise, Joseph G. Miller, Thomas R. Jarboe, James Houck, directors. Its secretary, George W. Cramer, has held that position for the past twenty years.

The Improvement Land and Buildings Association was chartered May 15, 1868, with the following charter members: David C. Martin, David M. Smith, Milton G. Urner, Charles W. Miller. Its first officers were

President, J. William Birely; Vice-President, David C. Winebrenner; Secretary, E. A. Gittinger; Treasurer, John T. Quynn; Directors, J. William Birely, Daniel Gletzendanner, Jr.. David C. Winebrenner, John C. Hardt, A. H. Aubert, John T. Quynn, George W. Cramer, E. A. Gittinger, Augustus L. Eager, Jacob Heintz, Ethan A. Cramer, David H. Kolb; Solicitor, Milton G. Urner.

The officers for 1881 are —

J. William Birely, president; D. C. Winebrenner, vice-president; Francis Markell, treasurer; George W. Cramer, secretary; Walter Saunders, agent; M. G. Urner, solicitor; Directors, J. William Birely, D. C. Winebrenner, John T. Quynn, Val. S. Brunner, P. B. Kunkel, Francis Markell, Lewis M. Nixdorff, John A. Lynch, John C. Hardt, A. H. Aubert, David H. Kolb, and G. W. Cramer.

The Mutual Aid Association elected the following officers in 1881:

Lloyd T. Macgill, president; Albert W. Burkhart, vice-president; Christian H. Eckstein, secretary; Thomas N. Harwood, treasurer; Dr. Thomas Turner, medical director; Charles T. Darner, Horatio Zittle, general agents; Examining Committee, Dr. Thomas Turner, Dr. Lloyd T. Macgill, Christian H. Eckstein; Board of Actuaries, A. W. Burkhart, Thomas Clagett, Joshua Ahalt, Horatio Zittle, Charles W. Miller; Directors, Dr. Lloyd T. Macgill, Albert W. Burkhart, C. H. Eckstein, Thomas Clagett, Charles W. Miller, Dr. Thomas Turner, Joshua Ahalt, Thomas N. Harwood, Horatio Zittle, Charles T. Darner.