Early Banks of Somerset Borough

Created: Monday, 14 September 2015 Last Updated: Monday, 14 September 2015 Written by Administrator Print Email


EARLY SOMERSET BOROUGH BANKS
About 1853, John T. Hogg, of Fayette county, established the first banking-house in the town of Somerset. William Roddy, who still resides at Petersburg, in this county, was the manager. This house continued business some five or six years, and then closed up its affairs without loss.
George Ross & Co. started another banking institution about the year 1860. After two or three years Michael A. Sanner & Co. succeeded to the business, who failed in 1877.

Tredwell (M.) & Schell (Henry F.) also started a banking-house about 1860. After some time Mr. Schell sold out his interests to Tredwell. Finally the latter was robbed of an amount claimed to be $20,000, which ended his career here as a banker.

In 1866, Schell (Henry F.) and Kimmel (John O.) established a banking-house, which was afterward conducted by John O. Kimmel & Sons. This firm likewise met with reverses, and failed in 1878.

The present Somerset County Bank, Capt. Charles J. Harrison, president, and Milton J. Pritts, Esq., cashier, was established by Capt. Harrison, October 1, 1877. This house is now doing a business of about $80,000 per annum.

(Source: History of Bedford, Somerset and Fulton Counties, PA; 1884)