The Cedarville Herald, Volume 71, Numbers 27-52

Friday, 'August 27, 1948 The Cedarville (O.) Herald 1835 XENIA NATIONAL BANK 1948 I then . . . P< f4 -- - * “ # r Vs -ffgv -**:■ w*5- £& 'l l M&sih xss^j&s-: (This Photo Taken About 1880), w,*x ~ ^ * *•&' [Formerly Xenia Branch Bank.] PAIDUPCAPITAL, *T* a a $120,00010. A. HIVLING, A. TRADER, President. Cashier* D I R E C T O R S : John Ankeney, Samuel Puterbaugh, A. Trader, A.. H. Baughman, A, Hivling, This Bank is now in operation} and is prepared to receive Deposits, make Collections, Discount Ac­ ceptable Paper, and do all business, pertaining to Banking. Banking House, same as formerly occupied by the Xenia Branch Ban^, corner Detroit and Second s tr c c tS i jun8 if. A . TR AD ER , Cashier.. "from copy o f: “THE XENIA TORCHLIGHT” WEDNESDAY, APRIL 11, 1866 Original paper in possession of R. O. WEAD , present cash­ ier of the Xenia National . . . . t o which the First National changed its name in 1883. gf?- <E* * • • f t 0 T V • * • vAj'WiV mmm *, 1; -< f$4 ' #\v • ?A3 5s£-4l?'»ii£^L £ (A Recent Photo of Our Bank) History of The Xenia National Bank ••v.. •.; MEMBER OF FEDERAL RESERVE SYSTEM The Federal Reserve System consists of 12 District Banks scattered over the whole of U. S. which are Banker’s Banks. In these member banks are required to keep on deposit a certain per cent, of their total deposits. I f any member becomes in need of funds, it can go to the Re­ serve Bank in its respective district and deposit proper collateral for the funds needed. It then repays the Reserve Bank as it accumulates the funds, and its bonds or notes are returned. June 1st, 1885 John Hivling opened a private bank in the city of Xenia, the first bank in Greene County of which there is any record. In 1845 the Ohio General Assembly estab­ lished a State Banking System under the control o f a Board o f Commissioners—one of whom was John Hivling. of Xenia, whose bank had joined the state system under the name o f the Ohio State Bank—Xenia Branch. Several o f the bank notes o f this branch are still in possession of a Xenia resident. ? The Xenia Branch Bank was located in the Messenger building at the N. E. corner o f Detroit and Second Sts. The old vault of this bank is still intact in the offices of Dr. F. M. Chambliss. The bank continued to operate successfully until 1863 when the first National Banking Act was passed by Congress under the guidance o f 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 Directors o f the Xenia Branch Bank applied for a National Charter in 1863 which was granted under the name o f The First National Bank of Xenia, Ohio. This organization con­ tinued business in the old location until 1866 when they purchased the lot on the S. E. corner of Detroit and Main Sts., and in 1867 erected the present building on this lot. Here they contin­ ued their banking business until the 20 year charter expired in 1883. At this time the National Banking Act had been changed so as to grant continuous charters and at the time of the ex­ piration in 1883 the organization applied for a new charter under the name of The Xenia Na­ tional 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 o f 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. In this our 113th year we extend to our patrons and friends our heart-felt thanks and look forward to many years of future association. . . a.--!*? ■ 1 V . . V . . . i. ■ . ■ % MEMBER OF THE FEDERAL DEPOSITORY INSURANCE CORP, 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 mem­ ber bank fails this organization immediately takes charge of the bank and pays the deposi­ tors their money up to $5000.00, in each individ­ ual account. It then proceeds to liquidate the bank’s assets and. close the business. Its his­ tory shows that it has never taken more than nine days to repay bank depositors in full. Board Of Directors- H. E. Eavey, President and Chairman o f Board of Directors Mary Little Dice, Vice President Jos. A. Finney F„ Leon Spjahr Findley M. Torrence Robert W. MacGregor R. O. Wead .V p . w . ^ ■ : .'V... - • „• V^.. . -V . ■ : ,V . • *•.v . - • ■f t>-*y ■ • ' v- -r ^ • v - ... WE LIKE YOU TO FEEL THAT YOU ARE ALWAYS WELCOME, THAT YOUR FINANCIAL PROBLEMS WILL ALWAYS GET A RESPECTFUL AND SYMPATHETIC HEARING / THE OLD XENIA NATIONAL Main Corner of City of Xenia ®You Are Never A Stranger After Your First Visit”