Cooperstown, Otsego, NY
1st National Bank, Part II
By Holice and Debbie

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1st National Bank, Part II

At a meeting of the directors of the Otsego County bank, held March 14, 1866 it was

Resolved, That in the opinion of the directors of the association the interests of the stockholders of said association require it to be dissolved, and that this bank proceed to invite the assent of the shareholders of the said association, holding two-thirds of the existing capital, to such dissolution.

On May 14, 1866, notice was sent to the superintendent of the banking department, at Albany N. Y., that the Otsego County bank intends to close the business of banking, the same being with the written consent of its stockholders, and by the direction of the board of directors. In 1866 the Otsego County bank was merged into the First National Bank of Cooperstown, N. Y.

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The First National Bank of Cooperstown was organized in February 1868, with a capital of $50,000. The following officers were elected:
President Geo. W. Ernst
Vice-President Joshua H. Story
Cashier Chas. W. Smith.
Board of Directors Wm. H. Averill
- Henry Scott
- G W. Ernst,
- Joshua H. Story
- Chas. W. Smith

March 22, 1864: Geo. W. Ernest retired from the president and directorship, on account of having been appointed United States interim revenue collector of the Nineteenth district. Calvin Graves was appointed to fill the vacancy in the board, and was also elected o fill the office of president.

Sept. 6, 1864: The capital stock was increased to $75,000 to $100,000.

Jan. 10, 1865: The following persons were elected directors for the ensuing year: Wm. H. Averill, Henry Scott, Joshua H. Story, Chas. W. Smith, and Calvin Graves.

March 12, 1866: The capital was increased from $75,000 to $100,000.

Jan. 9 1866: The following person were elected directors for the ensuing year: Wm. H. Averill, Henry Scott, Joshua H. Story, Chas. W. Smith, and Calvin Graves.

March 12, 1866: The capital was increased from $100,000 to $200,000.

July, 1866: C. W. smith resigned the cashiership, and Henry Scott was appointed in his place.

Directors for 1867: Wm. H. Averill, Henry Scott, Calvin Graves, Joshua H. Story, Wm. Nichols.

1869: E. M. Harris was elected in place of Wm. Nichols.

1870:Directors: Wm. H. Averill, Calvin Graves, Henry Scott, Joshua H. Story and E. M. Harris.

April 1871: Geo. W. Ernst was appointed to fill the vacancy in the board caused by the death of Joshua H. Story.

Nov, 1871: Henry Scott resigned the cashiership, and John H. Noble was appointed to fill the vacancy.

December 1871: E. M. Harris was appointed vice-president, to fill the vacancy caused by the death of Joshua H. Story. John H. Noble having disappeared under a temporary aberration of Mind, the office of cashier was declared vacant.

1872 Directors: Em H. Averill, Calvin Graves, E. M. Harris, Geo. W. Ernst, Geo. D. Hinman, and Henry Scott.

Feb. 1872: Frederick L. Palmer was appointed cashier.

1873 Directors: alvin Graves, E. M. Harris, W. H. Averill, G. W. Ermst, and G. D. Hinman.

Aug. 1873 Directors: Calvin Graves, E. M. Harris, W. H. Averill, G. W. Ernst, and G. D. Hinman.

Aug. 1873: C. W. Smith was appointed to fill the vacancy in the board caused the death of Wm. H. Averill.

1874 Directors: Calvin Graves, E. M. Harris, G. W. Ernst, G. D. Hinman, and C. W. Smith

1875 Directors: Calvin Graves, E. M. Harris, Geo. W. Ernst, G. D. Hinman, and C. W. Smith.

October 1876: F. L. Palmer was appointed director in place of G. W. Ernst.

1877 Directors: Calvin Graves, E. M. Harris, C. W. Smith, C. K. McHarg, and E. Delevan Hills.E. M. Harris was elected president. And C. K. McHarg vice-presidnet.

The officers and directors for 1878 are the same as those of last year. (The History of Otsego, NY, by Duane Hamilton Hurd, 1878)

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Transcribed by Holice B. Young

Copyright Debbie Axtman and Holice B. Young

December 24, 1999

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