The City Of Chester.

lars per annum, "to commence on 1st day of March next."

So successful had the institution proved that other parties at the session of 1832-33 made an effort to obtain a charter for another bank, and the act incorporating "The Farmers' and Manufacturers' Bank of Delaware County" passed both Houses, but was vetoed by Governor George Wolf. In the fall of 1834 it was ascertained that a large amount of redeemed notes of the bank had gotten into circulation, and would have to be again paid. It is traditionally asserted that quite a number of these notes had been thrown into the open fireplace, and the draught was so strong that many of them, borne upward in the chimney, were scattered in the street, were gathered by parties unknown, who circulated them in Philadelphia, and they were again presented to the bank for payment. Be that as it may, the dividend was passed several times between 1834 and 1837, and the earnings of the bank were appropriated to make up the deficiency found to exist in the capital of the institution.

The bank soon recuperated, and for years conducted a steadily-increasing and profitable business, ranking in credit second to no other in the State of a like character. When the civil war came, and all was excitement, even the staid directors seem to have imbibed something of the war spirit, for on April 22, 1861, the president was instructed to subscribe two hundred dollars towards the purchase of "two hundred muskets to be kept by the town to be used for the defense of the people and property of the place." On May 5, 1864, the bank made a donation of five hundred dollars to the Great Central Fair, held in Philadelphia for the United States Sanitary Commission.

During the invasion of the State by the rebel army under Gen. Lee, in June, 1863, on the 29th of that month, the directors instructed the president and cashier to make arrangements for the safe depository of the money and other valuables of the bank, if in their discretion such removal was deemed necessary. On Wednesday, July 1st of that year, Caleb Emlen and Jonathan R. Johnson were dispatched in a wagon to Philadelphia with the money and valuables, starting from Chester at a very early hour in the morning. The sum intrusted to these messengers - clerks in the bank - was several hundred thousand dollars, and although they were well armed, their responsibility was so great - fearing lest they might be attacked by parties who had learned of the proposed transfer - that when they placed the specie and other valuables in the custody of the Bank of North America, Philadelphia, to be forwarded to New York with that of the latter bank, should occasion demand it, they breathed freely once more under the sense of relief it brought them.

On March 14, 1864, the old Delaware County Bank ceased as an active State institution, but it had merely changed front, and was chartered by the United States as the Delaware County National Bank. During the transition state the board of directors seem to have acted in settling the affairs of the old institution until Nov. 11, 1864, when the following board was elected (the last under the old State charter): Edmund Pennell, Joshua P. Eyre, William W. Maddock, William Hannum, Edwin Hannum, Jacob Smedley, Joseph Engle, Frederick Fairlamb, William Booth, David Trainer, James Irving, Samuel Starr, and John H. Baker. On March 6, 1865, after the amount of money necessary was deposited in the United States Treasury to secure the charter, the surplus funds of the old bank were divided among the stockholders, paying a dividend of seven dollars per share, and on Dec. 28, 1868, a further dividend of two dollars and fifty cents was declared, which finally settled all the outstanding business of the old bank.

The institution under the national charter throve and prospered, the remarkable financial abilities of the late John O. Deshong being conspicuous in the conduct of its affairs. It was everywhere known as a strong and well-managed institution, usually carrying large sums of money in its vaults. Hence it is not to be wondered that efforts were made to rob it. On the night of Jan. 12, 1872, such an attempt was made, the burglars striving to effect an entrance by boring six holes with an auger through a back window-shutter, which, however, failed to penetrate the iron lining. The watchman heard the noise and gave the alarm, but the robbers fled before pursuit could be made.

In 1882 the old structure, built in 1815, was demolished, the business being removed into an adjoining building on Third Street, and the present fine banking-house erected in its stead. In all its appointments it is a model building, and reflects credit on the institution and on the architect, P. Welsh, and besides is an ornament to our city. It seems hardly credible that a structure such as it is could have been erected for fifty thousand dollars, and yet the building proper cost thirty-five thousand dollars, while the vault and fixtures aggregated fifteen thousand dollars additional. This was certainly a necessary and judicious expenditure. The new building was opened for business Jan. 29, 1884.

Following is a list of the presidents of the Delaware County Bank: John Newbold, Nov. 28, 1814, to March 23, 1815; Dr. Jonas Preston, March 30, 1815, to Nov. 20, 1815; Pierce Crosby, Nov. 27, 1816, to Nov. 15, 1834; John Kerlin, Nov. 15, 1834, to November, 1841; Jesse J. Maris, Nov. 22, 1841, to December, 1860; Frederick J. Hinkson, Dec. 12, 1860, to Feb. 8, 1864; Edmund Pennell, Feb. 15, 1864, to Dec. 25, 1868.

Presidents of the Delaware County National Bank: Samuel A. Crozer, March 14, 1864, to Jan. 16, 1865; Edmund Pennell, Jan. 16, 1865, to Jan. 19, 1874; David Trainer, Jan. 26, 1874, to Jan. 25, 1875; Robert H. Crozer, Jan. 25, 1875, to March 5, 1877; Ellwood Tyson, March 12, 1877, present incumbent.