North
Carolina
Business
History
Fayetteville Branch (1817 - 1835)
The second Bank of the United States was created in 1816. The bank opened 18 branches around the country in 1817. It later came under attack from politicians and state-chartered or owned banks. Its re-charter extension in 1832 was vetoed by U.S. President Andrew Jackson,
Here is a brief overview of the branch operations and bank leaders for the (Second) Bank of the United States operations in Fayetteville, North Carolina.
The branch was referred to as the Office of Discounts and Deposits at Fayetteville. Initially, proponents of a North Carolina branch had pushed Wilmington and Raleigh as sites for the operation, before the bank settled on Fayetteville.
The Fayetteville branch directors were appointed in October 1817, but the branch office did not open until January 26, 1818.
In September 14, 1827, the bank was relocated in town to the former house of Robert Donaldson, next door to the Lafayette Hotel, on Hay Street. The great fire of Fayetteville (May 29, 1831) destroyed over 600 buildings, including the local offices of the Bank of the United States and the Bank of Cape Fear.
When U. S. Andrew Jackson vetoed a charter extension and pulled federal deposits from the bank to lessen its economic power, the (Second) Bank of the United States began winding down branch operations. In April 1835, the citizens of Fayetteville were notified that the bank would no longer accept new business and would seek a way to gradually run off existing loans.
In 1835, the Fayetteville branch of the Bank of the United States negotiated a sale of its outstanding loans to the re-chartered Bank of North Carolina — which took over the Second Bank's offices and records on October 8, 1835. John Huske was named president of the Fayetteville branch of the Bank of North Carolina, continuing his service in that position with the Second Bank.
Additional information will be made to this list from time to time, including adjusting dates as additional research indicates. Any information or corrections should be send to Ron Vinson.
The following terms of office, especially for directors, are those that we have confirmed at present. It is likely that director's tenure extended beyond the limited years listed for many of them.
Officers & Board
| President | William Barry Grove | Jan. 26 - March 30, 1818 |
| John Huske | 1823 - 1835 | |
| Cashier | R. W. Latimer | Jan. 26, 1818 - |
| John William Sandford | 1818? - 1835 | |
| Other Staff | David Anderson, book-keeper | Jan. 26, 1818 - |
| Beverly Rose, teller | Jan. 26, 1818 - | |
| James Hart, discount clerk | Jan. 26, 1818 - | |
| P. Benjamin, clerk | Jan. 26, 1818 - | |
| Dolphin A. Davis | - 1835 | |
| Directors | ||
| Fayetteville | William B. Grove (President) | Oct. 1817 - March 30, 1818 |
| John Huske (President) | 1823 - 1835 | |
| H. W. Ayer | 1824 - 1825 | |
| Thomas C. Blake | 1832 - 1833 | |
| J. W. Cochran | 1824 - 1825 | |
| David B. Crane | 1824
- 1826; 1827 - 1828 |
|
| Henry A. Donaldson | 1827 - 1829 | |
| John D. Eccles | 1828
- 1831 1832 - 1833 |
|
| John H. Hall | 1830 - 1833 | |
| David Hay | Oct. 1817 - | |
| George T. Hearsey | Oct. 1817 - | |
| James H. Hooper | 1825
- 1827 1828 - 1831 1832 - 1833 |
|
| Thomas C. Hooper | 1824
- 1825 1827 - 1828 |
|
| John Kelly | Oct.
1817 - pre-1823 1831 - 1833 |
|
| Charles P. Mallett | 1825
- 1828 1830 - 1832 |
|
| John Matthews | 1824 - 1826 | |
| William McIntyre | 1831 - 1832 | |
| Hugh McLaurin (or MacLaurin) | 1826 - 1829 | |
| Duncan McLeran | Oct. 1817 - | |
| George McNeill | Oct.
1817 - pre-1823 1824 - 1827 1828 - 1829 |
|
| Duncan MacRae | Oct.
1817 - <pre-1823 1831 - 1833 |
|
| Larkin Newby | Oct. 1817 - | |
| Benjamin Robinson | Oct. 1817 - | |
| Elisha B. Stedman | 1824
- 1826; 1827 - 1829 1831 - 1833 |
|
| Williamson Whitehead | 1830 - 1831 | |
| Edward W. Willkings | 1830 - 1831 | |
| Richard F. Yarbrough | 1826 - 1829 | |
| Orange Co. | Duncan Cameron | Oct. 1817 - |
| Raleigh | Peter Browne | 1825 - 1828 |
| Beverly Daniel | Oct.
1817 - <pre-1823 1830 - 1832 |
|
| Wilmington | Alexander Anderson | 1830 - 1831 |
| William Anderson | 1827 - 1828 | |
| Robert Cochran | Oct. 1817 - | |
| Aaron Lazarus | 1824
- 1827 1828 - 1829 1831 - 1833 |
|
| D. Smith | Oct. 1817 - |
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