Camden Courier-Post – June 16, 1942
Institution Started Business at Second and Market Streets in 1812—16 Years before City Was Incorporated
By Oscar Magnuson
First Camden National Bank and Trust Co. is celebrating its 130th anniversary today.
There are no special exercises to commemorate the reaching of another milestone by the oldest bank in South Jersey.
It will be “business as usual,” too, for the president of the institution, F. Morse Archer, who is the seventh head of the bank. Archer will mark his 25th year as president of the bank next January.
Added City’s Growth
In the years that have elapsed the bank has been a factor in the development of the city, the county, the state and the nation. As it has through the years, the bank today is bending every effort to help the nation in its trying hour.
As the bank has grown in importance, so has the city. Sixteen years after the incorporation of the bank Camden’s population was only 1143—that’s when the city was founded in 1828. The last census, that of 1940, gave the city’s population as 117,777.
When “First Camden” began business there were only two banks in New Jersey—the Trenton Banking Co. and the Newark Banking Co.
Second street was then known as Queen street, and two properties were bought for $4300 for the new bank. On June 16, 1812, the board of directors held its first meeting in the banking house.
During the first year of business the director became impressed with the need for establishing an agency in Philadelphia, and a branch was opened in what was then known as Church alley in Philadelphia. At that time there were only six banks in Philadelphia.
In 1862 the bank came to the aid of the government and loaned it $100,000 at 4 percent interest.
Long Tenure for Presidents
Presidents of the bank since the incorporation have been William Rossell, James Sloan, Richard M. Cooper, John Gill, Israel W. Heulings, Heulings Lippincott and Archer. Long service has marked the tenure of “First Camden” presidents. Cooper served 29 years, Gill 44 years and Lippincott 30 years.
In addition to Archer officers of the bank are Burleigh B. Draper, executive vice president; LeRoy A. Goodwin and William D. Sherrerd, vice presidents, all of whom are also directors; J. W. Rockafellow, assistant vice president; Paul R. Mills, cashier; William K. Cook and Julian K. Potter, assistant cashiers; Jay Knox, trust officer; M. C. Lawrinson and J. J. Bannan, assistant trust officers; Clarence S. Sullivan, William B. Manlove, James J. Lutz and Emory C. Bowers, assistant cashiers, and G. R. Burton, auditor.
Other directors are David Baird Jr., Ralph D. Baker, William T. Boyle, Eugene F. Haines, Edward B. Humprheys, William T. Reed, Charles W. Russ, Edward E. Shumaker, J. B. Van Sciver Jr., Lawrence M. Verga and Charles A. Wolverton.