The Central Trust Company organized on April 9, 1891 at Read’s Hall, a building which later housed the Camden Daily Courier newspaper. After receiving its charter on May 8, the Central Trust commenced business on May 11, 1891. The bank was located at 324 Federal Street until April 1, 1892, and then at 323 Federal Street. The Central Trust Company bank building at 4th & Federal Streets was opened on October 31, 1900. The first president was Abraham Anderson, R.F. Bancroft the first vice-president, and Charles C. Pine the first treasurer. Thomas Nekervis was made secretary-treasurer on April 14, 1892. Montreville Shinn was made assistant Secretary-Treasurer on June 16, 1908, and C. Chester Craig was made trust officer on December 17, 1900.
When the bank celebrated its twenty-fifth anniversary, the officers were Dr. H.H. Grace M.D., President; John B. Clement, Second Vice-President, Secretary -Treasurer; Montreveille Shinn was made Assistant Secretary-Treasurer; and C. Chester Craig, trust officer. The board of directors consisted of Alpheus McCracken, Chairman of the Board; Casper T. Sharpless, A.J. Fullmer, Fithian S. Simmons, Jesse W. Starr III, W. Leonard Hurley, Killam Bennett, Eli Sharpless, Dr. H.H. Grace M.D., H.N. Munger, John B. Clement, Andrew B.F. Smith, Philip Wilson, and Richard C. Schwoerer. by 1919 Casper T. Sharpless had been raised to the position of Vice-President. George Van Sciver and Frank J. Hineline had joined the Board of Directors, while Alpheus McCracken was no longer a member.
Philip Wilson later became president of the Central Trust. He was the son of H.B. Wilson Sr., for whom the H.B. Wilson Elementary School is named, and the brother of Admiral Henry B. Wilson Jr., the namesake of the famous Admiral Wilson Boulevard.
The Central Trust was quite successful during the first two decades of the 20th century, growing from a mere $50,000 in assets in January of 1901 to $2,500,000 by 1916. The Central Trust had over 10,000 depositors in the spring of 1916.
The Camden Board of Trade Journal published a list of then-deceased leading citizens of Camden, who had played a role in the affairs of the Central Trust. The list included Abraham Anderson, Charles Helm, David D. Helm, William C. Kean, Richard F. Smith, Charles H. Knowlton, George A. Munger, Frank H. Burdsall, Carlton M. Williams, Thomas S. Nekervis, R.F. Bancroft, Charles Bosch, George G. Felton, Conrad Schwoerer, Thomas I. Gifford, Mahlon F. Ivins Sr., D.G. Langedorf, and Charles Watson. Other principals through the years at the Central Trust included Volney G. Bennett.
The Central Trust Company was absorbed by the Camden Safe Deposit & Trust Company in 1927. After the merger, the Central Trust building became the home of the Equitable Beneficial Insurance Company, and remained as into the 21st century. The building was put up for sale in late 2003. In 1938 the Camden Safe Deposit & Trust Company shortened its name to that of Camden Trust. By the time America became involved in World War II, the Camden Trust had acquired two other banks, the American National Bank at Broadway and Amber Street in South Camden, and the East End Trust on Federal Street in East Camden. by 1948, the Camden Trust was the largest bank in South Jersey, and seventh largest in the state, with branches in Camden, Gloucester City, Haddonfield, and Blackwood.
The Central Trust Company organized on April 9, 1891 at Read’s Hall, a building which later housed the Camden Daily Courier newspaper. After receiving its charter on May 8, the Central Trust commenced business on May 11, 1891. The bank was located at 324 Federal Street until April 1, 1892, and then at 323 Federal…
The Camden Trust traces its origin back to July 1, 1873, when the The Camden Insurance, Safe Deposit & Trust Company, first opened for business, at 224 Federal Street. Over a period of seventy-five years, the bank merged with other local banks such as the Security Trust Company, Central Trust Company, East End Trust Company,…
The Farmers and Mechanics Bank was organized with a capital of $300,000 on March 31, 1855. The banking house at the southeast corner of Front and Market Streets was built at the cost of $18,000. This institution was conducted as a State Bank until September 1, 1864 when it became a National Bank and its…
Services of A. Benjamin Sparks as city tax sales clerk terminated yesterday as city officials furthered their economy program.
The Authorities of Burlington county have another baffling murder mystery to solve.
H. H. Grace, M. D., President and JOHN B. CLEMENT, Treasurer, of the above-named Company, being severally duly sworn, each for himself deposes and says that the foregoing statement is true, to the best of his knowledge and belief.