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The
McDowell National Bank of Sharon had its inception in the
private establishment of D. C. Strawbridge,
who opened for business in that place, May 1, 1868. Early in 1870 the
business passed to the control of James Bleakley,
Son & Co. At this time Alexander McDowell,
the company in the above title, assumed the management and the history
of the McDowell Bank began. In 1873 Mr. McDowell
purchased the interest of his partners and the title became Alex.
McDowell, Banker. The strength of the bank was fairly tested by
the panics and related depressions of 1873, 1884 and 1893, always
meeting the emergencies with conspicuous strength. In July, 1907, the
bank took out a National charter with a capital of $150,000 and surplus
of $30,000 and the following officers and directors:
A. McDowell, president; F. W. Koehler,
vice president; H. B. McDowell, cashier; John
R. Willson, Walter S. Palmer, James A. Wright, Edward Buchholz
and John L. Morrison, which board was put
to a severe test immediately in the panic and depression of 1907-8,
showing marked strength in their conduct of affairs. Since organization
as a national bank the following changes have been made: Mr. Morrison,
owing to continued absence from Sharon, was compelled to resign from the
directorate and P. C. Gibbons was chosen to
fill the vacancy; the surplus fund has been increased to $40,000. The
bank is primarily a commercial bank but has facilities for savings and
safe deposit.
Twentieth
Century History of Mercer County,
1909, pages 228-229
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McDowell
National Bank
of
Sharon, 1930s
Click
to enlarge
McDowell
Bank Token,
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to enlarge
Sharon's
Yesterdays and Tomorrow... a History of Sharon and the McDowell
National Bank
Biography
of Alexander McDowell
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Places
McDowell National Bank
