BANKS AND BANKING

The first bank in Weedsport was known as "The Weedsport Bank," although E. G. Treat in one of his historical articles printed in the Cayuga Chief uses the title "Weedsport State Bank." The bank opened in July 1854 with a capital stock of $100,000. Stock subscribers included Elihu Weed,

Gen. Isaac Bell, William Y. Cornwell and Dexter E. Havens. Lyman F. Soule was president and was soon succeeded by Mr. Havens. The venture failed in 1866 and Mr. Cornwell was appointed receiver. This bank was located in the north part of the present First Trust and Deposit building at 8982 North Seneca Street.

Following the failure of The Weedsport Bank, "Westfall and Mirick, Bankers" opened on the same premises. The institution survived for about two and a half years when it was sold, in 1869, to a group calling itself Mack, Treat and Company. Little is known of Westfall and Mirick other than the fact that they owned a group of malt houses. Their operations center was located at Lyons. Royal Mack, Cashier of the Weedsport Bank and Sylvester W. Treat were the principals in the new organization. Mack Treat and Company was still in existence as late as 1887. Probably soon after that date the business became S. W. Treat & Company. Edgar G. Treat succeeded to the presidency of the business at his father's death in 1918. He served until the organization of The First National Bank of Weedsport on July 1, 1917.

A competing bank was established in Weedsport on April 1, 1872 by Royal L., Samuels Y. and William Mack under the name of Mack Brothers. About 1877 it became insolvent and was absorbed by S. W. Treat and Company. It was located at 8902 South Seneca Street.

Another bank of short duration was opened in 1890 under the name Burritt and Henderson. A newspaper account states that "Burritt and Henderson's Bank is open for business. It is the handsomest fitted up office in town. It is finished off in style equal to a city bank." The bank was probably located in the Burritt building on East Brutus Street. Its duration is not documented at this time. Henry E. and Fred N. Burritt and Charles M. Henderson made up the partnership.

A charter dated July 1, 1917 established the First National Bank of with a Capital stock of $25,000 and a surplus of $5,000. Officers M. Ball, President; N. E. Durston and B. B. Andrews, Vice-President James H. Dumary, Cashier; F. M. Austin, Assistant Cashier. First National had the distinction of being one of the few banks in the nation completely solvent during the Depression of the 1930's.

It continued to operate until March 16, 1956, when it was sold to First Trust Company of Syracuse. James H. Dumary remained with the new company as Weedsport Branch Manager. Since his retirement the bank has been under the management of Royal O'Day, Frank S. Morano, Earl. H. Bates, and Y. Dwight Kelly. First Trust is still located in the same building that housed the Weedsport Bank in 1854 - 122 years of almost continuous banking at the same site.

In the fall of 1975 Cayuga County Savings Bank of Auburn was granted permission by the State Banking Department to establish a branch office in Weedsport.

The new facility will be located at 9015 North Seneca Street where it will occupy a portion of the old Chapman Lumber Company site.

be modern in every way and will provide ample parking as wellas a drive-in window.

Weedsport people figure prominently in the new project. The building and the grounds layouts were the work of local architect Samuel J. Cichello; Joseph P. Ganey, President of Cayuga County Savings Bank resides just south of the village; the major construction contract was the A. H. Bibbens Company, Inc., and Albert H. Bibbens of Cottle Road is president of that corporation. The branch office will open in the spring of 1976.