The History of Cayuga County 1789-1879 page 465
Village of Moravia

A meeting was held pursuant to the call, and organized by the appointment of Hon. H. C. Tuthill, chairman, and A. B. Hale, clerk. It was deemed advisable to organize under the National Banking Law, and a committee was appointed to obtain subscriptions to the capital stock. At a meeting held April 25th, all the capital stock having been subscribed, B. J. Everson, A. B. Hale and Franklin Goodrich were appointed a committee to prepare and report articles of association and by-laws, which, after revision and amendment, were adopted May 25th, 1863, and signed by those who signed the call, except Rufus W. Close, P. D. Livingston, Lucius Fitts, Lyman Card, W. C. Cramer, B. C. Goodridge, Nathan Robinson, S. B. Young, David Wade, Jr., Whitman Brockway, E. Hopkins, J.

S. Paul, Reuben Rounds, and additionally by Daniel Goodrich, Daniel J. Shaw, Cordial S. Jennings, Jeremiah Hunt, Benjamin Atwood, Franklin Goodrich, John L. Parker, Hiram Hunt, Win. R. Richmond, Elizabeth Barney, M. M. Greenfield, Win. Selover, Terry Everson, Alvah Fitch, Smith Hewitt and H. W. Lockwood.

The first directors, as named in the articles of association, were, Hector C. Tuthill, Daniel J. Shaw, Beriah D. King, Alvah Fitch, Austin B. Hale, Win. Keeler, Charles E. Parker, Thompson Keeler and Benjamin F. Everson. The organization was perfected May 2d, 1863, and at a meeting of the Board of Directors held May 5th, Austin B. Hale was elected president, and Benjamin F. Everson, cashier. The capital stock was fixed at $50,000, and was increased the following year to $80,000. The bank opened its doors for business October 5th, 1863.

A. B. Hale acted as president till February, a director, and Hector 1864, when he resigned as H. Tuthill was elected to the directorship and the presidency, which position he has since held, with the exception of the year 1872, when A. B. Hale was president. B. F. Everson acted as cashier till December, 1864, when he resigned, and Leander Fitts was elected to that position, which he has held continuously since, with the exception of the year 1872, when John Thomas was cashier. The bank has occupied rooms in the Moravia House since its organization, under a lease which extends to 1893.

The present directors are Terry Everson, Silas Phelps, Joseph Dresser, Wm. Selover, H. H. Tuthill, Elijah E. Brown, Julius Fitts, M. L. Williams and L. H. Edmons. Win. J. H. Parker is the present bookkeeper, a position he has occupied the last two years.

The success of the bank is indicated by the following statistics. The average yearly deposits have been as follows:

For	1864, 	$74,380.18 	For 	1871, 	$68,604.31
	1865, 	 94,288.25 	" 	1872, 	 61,123.79
	1866, 	 84,389.93 	" 	1873, 	 79,267.48
	1867, 	 90,766.29 	" 	1874, 	127,084.98
	1868, 	123,823.76 	" 	1875, 	146,120.67
	1869, 	 91,491.20 	" 	1876, 	159,495.43
	1870, 	69,515.68 	" 	1877,	139,417.99


Average yearly deposits during the fourteen years,………………………	$100,697.85
Government taxes paid during the fourteen years………………………	  22,336.53
Dividends paid to stockholders during the fourteen years…………………	 139,100.00
which is 12.42 per cent. on a capital of $8o,ooo.

Present Capital………………………… 	80,000.00
"      	 Surplus……………………… 	20,800.00
"        Undivided Profits……………  5,441.00

Total …………………………… 	      $106,241.00


Four per cent, interest is paid on deposits, the rate having been reduced
from five percent in 1876.

The Moravia National Bank. -The idea of organizing a second banking institution in Moravia seems to have originated with Wm. Keeler, who, in January, 1877, broached the subject to a few gentlemen whom he deemed most likely to be interested in such a project among others, Elondo Greenfield, James T. Green, Thompson Keeler, Capt. Edwin C. Pulver, Win. E. Keeler, Webb J. Greenfield and S. Edwin Day, and after consultation it was determined than an effort should be made to secure subscriptions to the capital stock of such bank, placing the amount thereof at $50,000, to be divided into shares of $100 each.

The effort proved successful, and on the 21st of February thereafter, correspondence was opened with the office of the Comptroller of the currency at Washington. On the 28th formal application was made for authority to establish such bank, which was granted March 6th, and on the 19th organization certificates and articles of association were made in duplicate, dated on that day.

Return to the Index of The History of Cayuga County 1789-1879 by Elliott Storke
Return to the Cayuga County NYGenWeb Project Home Page