Milton History
a pictorial history of Milton, PA
Milton National Bank 27 S. Front Street
Picture courtesy of the Milton Historical Society
This building was on the east side of South Front Street. The right side of the building was torn down and replaced with a more modern building, which later became the Milton Public Library. The left side was originally the cashier’s quarters, and later became the Eagle Clothing House. The Krauser building is to the left, and the Hotel Haag can be seen on the right in the lower picture. Harry W. Chamberlain was the president in 1909. He lived at 21 N. Front St. with his wife Miriam and daughter Mary.
From History of Northumberland County, PA 1876: The germ from which this institution sprang was the Milton Savings Bank, incorporated in 1855, and organized in 1856, with a capital of only twenty-five thousand dollars. James Pollock was president, and Robert M. Frick, cashier. In 1857, Mr. Pollock resigned the presidency, and W. C. Lawson was elected to fill his place. March 8th, 1862, it was made a bank of issue, the capital increased to fifty thousand dollars, and the name changed to The Milton Bank; Mr. Lawson and Mr. Frick, respectively, retaining the offices of president and cashier. On the 17th of January, 1865, having complied with the requirements of the National Banking Law, it became the Milton National Bank, with a capital increased to one hundred thousand dollars, and with W. C. Lawson and Robert M. Frick still as president and cashier. The banking-rooms were first in the Cadwallader Building, adjoining the Bethuel Vincent corner. Its present quarters (1876) are in one of the brick dwelling-houses, purchased by the bank from the estate of William H. Sanderson. The residence of the cashier occupies the remainder of the property.
In the picture above, taken of the new building after the fire of 1880, the bank is on the right side and the cashier‘s quarters to the left.
From Bell’s History of Northumberland County 1891: Andrew Straub, the founder of Milton, took up his residence at Milton in 1790 and built a log house on the lot now owned by the Milton National Bank.
The Milton National Bank was organized in 1858 as a savings institution with a capital of twenty thousand dollars; the first board of directors, composed of James Pollock, William Heinen, Samuel Shannon, William C. Lawson, Thomas Swenk, William F. Nagle, and Moses Chamberlin, was elected, June 28, 1858. In December of that year business was begun at the corner of Broadway and Front. The bank building was burned in the fire of May 14, 1880, all the effects of the institution being saved, however, and three days later business was resumed at the house of R. F. Wilson. The present banking house, a brick building on the east side of Front street, was first occupied in 1881. Originally a savings bank, it became a bank of issue under the State law several years after its organization, and assumed its present name in 1863 with a capital of seventy-five thousand dollars, since increased by one third of that amount. The first president was James Pollock, elected in July, 1858; he was succeeded by William C. Lawson, the present incumbent, July 2, 1860. R. M. Frick has been cashier since the bank was first established.
