With the opening of the year 1812, was commenced the first Bank ever instituted in Louisville. This was the branch of the Bank of Kentucky. Previous to this, there was an unincorporated establishment named the Louisville Bank, whose capital of about 75,000 dollars was thrown into this Bank, with an addition of 25,000 dollars, making for the first incorporated Bank a capital of 100,000 dollars. This bank was situated on the North side of Main street, near the corner of Fifth, and was under the direction of Thomas Prather,[11] President, and John Bustard, Cashier. An additional impetus was also given to the commercial prosperity of the town by the establishment, during this year, of an iron foundry by Mr. Paul Skidmore. The attention of this foundry was directed to casting gudgeons for water and horse mills, dog and smoothing irons, and odd oven lids. From this small beginning arose that branch of industry now so large and of so vital importance to the city. A brief sketch of the progress of foundries since that time may be interesting to the reader. Mr. Skidmore was succeeded by Joshua Headington, who continued the same description of business with little if any improvement until 1817, when he was in his turn succeeded by Prentiss and Bakewell, who undertook the building of Steam engines, getting a part of the machinery from Philadelphia, and a part from Pittsburg, but they did not succeed very satisfactorily until 1825, when they built some engines for small boats which performed respectably. These gentlemen dissolved their connection about 1826. Mr. Prentiss continued the business a short time alone, and then sold one half of his establishment to Jacob Keffer, who was to superintend the foundry. In 1831, this foundry ceased operations, and Messrs. D. L. Beatty, John Curry, and Jacob Beckwith built a foundry and carried on successfully the casting and steam engine business. These gentlemen erected the first air furnace which ever proved of any value; built the first regular boring-mill, and substituted the blowing cylinder instead of the common wood and leather bellows. There are now six foundries for building steam-engines and machinery of all kinds in full operation, beside six extensive Stove Foundries. The legislature of the State passed an act during this year ordering Main street to be paved from cross No. 3 to cross No. 6, at the expense of the owners of lots fronting on said street. While the paving was progressing agreeably to this order, an honest Scotchman came by from the vicinity with a loaded wagon. "What'll ye be doin' there?" was his salutation to the superintendent of the work. "Paving the street," was the answer. "Pavin', do ye say, weel, weel, when it's done, I'll willinly pay my peart o' it, for I hae had awfu' wark gettin' through it a' before." It is not recorded whether this honest gentleman was called on for his "peart," but it is presumed he was enabled to enjoy these advantages gratis.