History of Atchison County, KansasIngalls, Sheffield
History
History of Atchison County, Kansas
Ingalls, Sheffield
Atchison County (Kan.) -- Biography; Atchison County (Kan.) -- History
Boling, of LeCompton, was appointed to examine and
report on the financial condition of the Atchison branch of the Kansas
Valley Bank, and this is the first record in Kansas of a proceeding of
this kind.
Samuel C. Pomeroy resigned as president of the bank in 1858, and was
succeeded by William H. Russell, of the contracting firm of Majors-
Smoot-Russell & Company. G. H. Fairchild was made vice-president, and R.
L. Pease, cashier.
In 1861, this bank, then called the Kansas Valley Bank, had its name
changed by act of the legislature, to the Bank of the State of Kansas,
and it was conducted under that name until 1866, when the stockholders
wound up its affairs.
The legitimate successor of the Bank of the State of Kansas was
Hetherington’s Exchange Bank, which was founded in 1859 by William
Hetherington.
The Exchange National Bank, of Atchison, Kan., is the oldest banking
institution in the city of Atchison, having been established in 1859,
while Kansas was a Territory. The bank was then named the Hetherington
Exchange Bank. That bank became the successor of the Bank of the State
of Kansas, which was organized in 1857. The founder of the Hetherington
Exchange Bank was William Hetherington, and, except for one year during
the Civil war, it has been in successful operation since it was
established. It passed through the period of its existence during
Territorial days, and the depressing financial conditions as a result of
the war, and business reversals incident to the reconstruction period,
and its management was at all times conducted upon the theory of its
motto adopted by William Hetherington in an early day that “Safety
First” in all of its business transactions was the secret of success.
The bank’s first business home was in the Otis & Glick building,
opposite the Byram Hotel. In 1869 it was moved to the Hetherington
building, at the northwest corner of Fourth and Commercial streets.
Later on, and in 1885, the bank was moved to the southwest corner of
Sixth and Commercial streets, into the building erected by its
president, William Hetherington, where it has since been located.
In 1876, William Hetherington admitted into the firm, as a partner,
Webster W. Hetherington, his eldest son, and in 1881, Clifford S.
Hetherington, his youngest son, became associated with him. In the year
1882 the Hetherington Exchange Bank was incorporated under the laws of
Congress, as a National bank, under the name of The Exchange National
Bank of Atchison, with a paid-up capital of $100,000, and surplus of
$20,000, and at once took high rank as one of the strongest and most
conservative banks in northeastern Kansas, and has ever since maintained
that reputation.
Public-domain text, read in full here on John Shaqi.
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