The Cedarville Herald, Volume 69, Numbers 27-52

j t f 0 t t i f e DETROIT STEET AT MAIN, XENIA, OHIO has served people of Greene County since 1835 • , • j - • * . ■ . * • * \ • Our Second Century of Banking JUNE 1st 1946 » ' • * » , - » ■ • One Hundred and Eleventh Anniversary V i MEMBER OF FEDERAL RESERVE SYSTEM The Federal Reserve System consists df 12 Dis­ trict Banks scattered over the whole of U. S. which are Banker's Banks. In these member banks are re­ quired to keep on deposit a certain per cent, of their total deposits. If any member becomes in need of funds, it can go to the Reserve Bank in its respective district and deposit proper collateral for the funds needed. It then repays the Reserve Bank as it ac­ cumulates the funds, and its bonds or notes are re­ turned. MEMBER OF THE FEDERAL DEPOSITORY INSURANCE CORPORATION The Federal Deposit Insurance Corporation is a federally controlled body which levies on all banks belonging to the corporation a semi-annual tax on the total deposits^ which is put into the insurance fund.; When any member bank fails this .organiza­ tion immediately takes charge of the bank and pays the depositors their money up to $5000.00, in each individual account. It then proceeds to liquidate the banks assets and close the business. Its history shows that it has never taken more than nine days to repay bank depositors in full. 1835 History of The Xenia National Bank 1946 June 1st, 1835 John Hivling opened a private bank in the city of Xenia, the first b6nk In Greene County of which there is any record. In 1845 the Ohio General Assembly established a State Banking .System under the control of a Board of Commissioners— one of wham was John Hivling, of Xenia, whose bank had joined the state system under the name of the Ohio State Bank-—Xenia Branch. Several of the bank notes o f this b ran^ a re still in possession of a Xenia resident. - / Personnel- Board Of Directors- H. E. Eavey— President & Chairman of Board of Directors Maty Liirle Dice— Vice President . A. Finney F. Leon Spahr R. 0 . Wead The Xenia Branch Bank was located in the Messenger building at the N. E. carper of De­ troit and Second streets. The old vault of this bank is still intact in the offices of Dr. F. M. Cham­ bliss. The bank continued to operate successfully until 1863 when the first National Banking Act was passed by Congress under the guidance of Salmon P. Chase, of Ohio. Under this act all banks which joined the system were chartered for a period of twenty years. The Board of Direc­ tors of the Xenia Branch Bank applied for a National Charter in 1863 which was granted under ; the name of The First National Bank of Xdnia, Ohio. This organization continued business in the old location until 1866 when they purchased the lot on the S. E. corner of Detroit and Main streets, and in 1867 erected the present building on this lot. Here they continued their banking busi­ ness until the 20 year charter expired in 1883. At this time the National Banking Act had been changed so as togrant continuous charters and at the time of the expiration in 1883 the organiza­ tion applied for a new charter under the name of The Xenia National Bank, its present name. During these years this bank has enjoyed the patronage and confidence of the people of this community for which we wish to express our sincere appreciation. It has endeavored to be helpful in the advancement of the community in making Greene County a good place in which to live, as well as a good place in which to make a living. ■ " . On this our 111th anniversary we extend to our patrons and friends our heart-felt thanks and look forward to many years of future association. * * - o j WE LIKE YOU TO FEEL THAT YOU ARE ALWAYS WELCOME, THAT YOUR FI­ NANCIAL PROBLEM W ILL ALWAYS GET A RESPECTFUL AND SYM PATHETIC HEARING R. O. Wead— Cashier Wm. B. Fraver— Asst. Cashier George H. Prugh— Teller Sally Smith—Teller J. Fred Schultz— Teller Rachel B. Reeves— Teller Eloise Coy— Secretary and Bonds Rebecca Miars— Bookkeeper Betty Anderson— Bookkeeper Marilyn Whetstone— Bookkeeper Martha Steele— Individual Accounts Esther Miller— Transit Clerk Emma Andres— Notes and Discounts H-SB ! il 1 ; *1 ii * ■‘ tHf •' ji i l v i • km '-.7 ■ ® ' • f 'If! s J l i P : *. i UP, • * j £ j , ir i ! $ j , 4 1 nt •} ! CONGI HAPI By CL Me Most of work o f th the Senate, less marked tion on a n iv'W pendinj Capitol. The Senal version of l lective Serv the draft un permit the nineteen yes neit. The lation to rai in the armt and able sea their base i $75,00 per a be remdmlx drafting mi require a V October lot ing of boy* fathers of . the .House tion to givi enlisted me also a four boost to cti differences Senate vers have,to be committees approved bj ’ gress by Ju • It now at Control A c tions is ext dead line i . OPA activi; greatly res ing Commi the House Control leg has writter ing amend Bowles, fol ure he esta islation w; the air last Committee Bill and O debate in Adminixm tary posit) legislation President, amended 1 him, then Act will at 30th, and 1 discard, faced with wants to a trol legish act, or win at all, and o f its whol By Wed President sign, veto become IaA the meant taken on labor cent gress. In: see wheth in wantin; manageiiK ing the ei himself w were on, 1 the Presi' ganized L angry wi< he vetoes doubtedly conservat which ha recent ar mergence coal stvik Senate lican of an autln internals President rosentnli curity C< Stcttiniu- old Vera been kno already f dollar a appoint)) firmed 1 Hie nppt fective h ■ cause of a sitting ing any The week n radical f who the dates fo etr* tool attempt