1907: Grange Bank of Smethport, PA

National Bank Here Started as Grange National Bank
McKean County Democrat August

National Bank Here Started as Grange National Bank
McKean County Democrat August

On August 7, 1906 a meeting for the purpose of organizing The Grange National Bank of McKean County was held in the parlors of the Smethport Hose Company. Smethport stockholders present at this meeting included D. C. Young, John N. Apple, George Richards, A. B. Armstrong, W. C. Daly, J. C. Snell, A. A. Abbey and H. H. Redfield. It was decided to rent temporary offices in the D. C. Young store building at the corner of Main and Union streets, until a permanent location for the bank building could be chosen.
At a meeting two weeks later, D. C. Young was elected president: A. B. Armstrong, vice-president, and Guy B. Mayo, secretary. It was decided to purchase, for a permanent location, J. Colegrove’s store, adjoining the Hamlin Bank and Trust Company building, Mr. Colegrove was to give up possession in sixty days and remodeling the building for banking purposes was to be completed so that the bank could be opened for business by January 1, 1907. However, at a meeting on Sept. 5th, it was decided not to purchase the Colegrove store, and to purchase instead the Brownell lot at the corner of Main and State streets and erect a new building. Plans were later accepted for a modern two-story brick building, 63 by 34 feet, with the bank to occupy the ground floor and business offices for rent on the second floor. The contract was let to the Walter G. Harper Co., of Meadville, Pa., and the building was completed for the opening in July, 1907.
The following description of the opening was contained in the McKean County Democrat, July 11, 1907:
Tuesday, July 8, 1907, was the opening day of the new Grange National Bank of McKean County. The weather could not have been better, and a large crowd from all over this and other counties was in attendance, giving the confectioneries, ice cream parlors, etc., a rushing business.
Visitors were shown through the building while excellent music was furnished by Chadwick’s Orchestra, composed of John Chadwick, James Quirk, Sidney Burdick, Lloyd Downey and A. Elmer Quirk. Deposits were also made ad souvenirs consisting of cards upon which are congratulations and a picture of the building presented.
Mrs. Hartshorn, cashier of the Grange National Bank of Clearfield, assisted Messers Lee and Brownell n the duties of the bank during the day.
At 3:20 the crowd repaired to the Court House where the speaking, etc., took place. The exercises were opened by Rev. Mr. Ware., with a prayer. After music by the orchestra, D. C. Young, president of the bank, in a few remarks, introduced the first speaker of the day, E. R. Mayo, who gave the origin, history, etc., of banks. G. B. Mayo and J. G. McHenry, of Benton, the next speakers, gave the benefits of the bank to the people.
Mr. Fuller of Olean explained that starting a bank was not only erecting a building and depositing money, but that money must be kept in circulation.
After this, the last speech on the program, Mrs. Goding, son and daughter, of Port Allegany, sang several beautiful selections. Miss Sawyer played the accompaniment, after which the benediction ended the program.
“In regards to the bank, too much credit cannot be given to the officers and directors, D. C. Young, A. B. Armstrong and Guy B. Mayo president, vice-president and secretary, respectively.”