Banking on history
Advertisement
Text size: small | medium | large
K.W. Stanley / News Virginian
Published: April 17, 2007
In the same period, three banks began operations east of the river. One was the Basic City Bank (c. 1891-93) in the Jordan Building on the southeast corner of Augusta and Fourth. Businesses operating in the building included Central Hotel, Basic City Bank, a millinery shop, Lindsay and Roller's Grocery and Crammer's Hardware. An opera house across the avenue was never completed. The bank closed during the depression. The Jordan Building was later used as a boarding house.
Another bank was Iron City Bank of Basic City (c. 1891-93), known as Iron Cross Bank, on the northeast corner of Fourth and Bayard west of N&W's (Jack Higg's) Iron Bridge. The bank's name originated from a projected iron foundry that was never built in Basic City after many businesses failed in the 1890s. The Iron City Bank of Basic City closed during the depression. This building is now a private residence.
A third bank (c. 1890s) founded in Basic City during the "boom" years operated at 300 Commerce, across the N&W tracks from the Belmont Hotel. Commerce became the primary commercial avenue in Basic City. This bank and other businesses on Commerce near the N&W and C&O Depots survived the depression. Later, the bank, renamed Citizens Bank and managed by James Wright, merged with a Waynesboro bank. Speck's Grocery and more recently Southern Rose Tattoo Company have operated on this site.
The original First National Bank at 420 West Main opened about 1897. The bank was housed in a former Federalist Colonial antebellum two-story red brick home in the style of other grand Waynesboro homes of the period, including Rose Hall (Willow Oak Plaza site) and the Withrow House (former J.J. Newberry site).
Original bank officials included J.T. Templeton, president, and W. Chew, cashier. Later officials were Theo Coiner, president, and J.A. Patterson, vice-president. R.G. Vance later was bank president. The present gray brick bank building housed a new First National Bank by 1908. Waynesboro Heritage Museum will soon locate on the first floor with apartments above the museum.
The Waynesboro National Bank was constructed in 1908 adjacent to Fishburne Drug Store on West Main (Charles Yancey Municipal Building site).
The west half of the Samuel Fishburne home occupied the bank site originally. Pliny Fishburne, a pharmacist, became president of the new bank. Later presidents were S.W. Thompson, C.K. Yancey and James Wright. Mergers brought other names to this bank including People's Bank, Citizens-Waynesboro Bank and Trust Company, Virginian National Bank, Sovran Bank and NationsBank.
In 1979, Fishburne Drug Store, east of the bank on West Main, was demolished to construct a new Virginia National Bank. The colonial styled building later housed Sovran Bank, NationsBank and currently the Charles Yancey Municipal Building.
Post a Comment
The commenting period has ended or commenting has been deactivated for this article.
Can't find what you're looking for? Try our quick search:
