Coatsworth, Smith & Co. conducted an exchange business in Mason for a year or more previous to 1866, the firm being composed of Mr. Coatsworth, now of Holland, Ottawa Co.,: H. H. Smith, of Jackson; and Dr. Minos McRobert, of Mason. H. L Henderson came to the village in 1857, from Syracuse, N. Y., and in 1866 founded the private bank of H. L. Henderson & Co., and erected the present building occupied by the First National Bank, which is an ourgrowth of the private institution.
The First National Bank* was organized Sept. 5, 1870, when stock amounting to $80,000 was subscribed, the stockholders numbering twenty-nine. Among the heaviest were Henry L. Henderson, Minos McRobert, Charles H. Sackrider, Charles E. Eaton, O. M. Barnes, H. T. Allen, A. Walker, and H. B. Hawley. Articles of association were adopted Oct. 29, 1870. The first board of directors consisted of Minos McRobert, Orlando M. Barnes, John B. Dakin, Arnold Walker, John Dunsback, Charles H. Darrow, Charles H. Sackrider. The first officers elected were: Minos McRobert, President; Orlando M. Barnes, Vice-President; Henry L. Henderson, Cashier. In 1872 the capital stock was increased to $100,000. The present officers are : President, Minos McRobert; Vice-President, O. M. Barnes; Cashier, H. L. Henderson; Directions, M. McRobert, O. M. Barnes, H. P. Henderson, C. H. Sackrider, C. H. Darrow, H. L. Henderson, John M. Dresser.
A private bank was established in 1869 by Lowe, Near & Co., and in August, 1871, the firm became Lowe, Smead & Co. A tasty bank building has been erected, and a general banking business is transacted. Peter Lowe, the senior member of this firm, is one of the oldest residents of the county, as will be seen by reference to the history of the township of Stockbridge, in which he first settled. He has been a resident of Mason since 1843, and always a prominent citizen.
*The following, regarding the founders of this bank, is from an article on the business interests of Mason, published in the Ingham County News in 1875:
MINOS McROBERT
H. L. HENDERSON
Taken from:
"History of Ingham and Eaton Counties Michigan, with Illustrations and Biographical Sketches of Their Prominent Men and Pioneers", by Samuel W. Durant.
Published by D. W. Ensign & Co., 1880.
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