Today in Wheeling History: June 5--The National Bank of West Virginia opened its new 10-story building at the corner of 12th and Main Streets in Wheeling, a structure that would later be known as the Klos Tower, Medical Tower, W.M. Marsh Building, and most recently, the Absure Tower (1915).
The National Bank of West Virginia was established in June 1819 and originally did business as the North-Western Bank of Virginia until 1865 when it was nationalized. The bank's first location was at 225 Main Street on the site where George K. Wheat's residence would later be built at 909 Main Street. The bank remained there until 1850 when it moved to a building at the corner of 12th and Main Streets.
On June 5, 1915, a new 10-story bank building designed by noted Wheeling architect Charles W. Bates opened at the corner of 12th and Main Streets, replacing the previous structure. The new building was 144 feet 8 inches tall with a frontage of 47 feet on 12th Street and 70 feet on Main Street. It was constructed of reinforced concrete with a terra cotta facade and faced brick on the west and south sides.
The bank has a long and notable history. It survived the Panic of 1837 without suspending payments in gold and silver coins and continued operating in a sound condition. In January 1897, the National Bank of West Virginia consolidated with the Bank of Wheeling, which had been founded in 1853. As of June 1915, the National Bank of West Virginia had a capital stock of $500,000, surplus of $200,000, and total resources close to $4,000,000, making it one of the strongest banks in the region at the time.
Over the years, the historic bank building has been known by several names including the Klos Tower, the Medical Tower, the W.M. Marsh Building, and most recently the Absure Tower. As of January 2018, the building was vacant and city leaders were hoping that historic preservation tax credits could help rehabilitate and repurpose the structure, possibly into loft-style apartments, in order to save it from potential demolition due to its age and some deterioration. The building had last sold in June 2016 for $165,000. Time was seen as critical to saving the 103-year-old historic structure.
To learn more: (https://shorturl.at/vqVvM) (https://shorturl.at/pi7KB) (https://shorturl.at/BYWBm) (https://shorturl.at/94SfJ) (https://shorturl.at/bUSnI) (https://shorturl.at/135UE) (https://shorturl.at/FcqFn)
Photo credits: Ohio County Public Library Archives, Wheeling WV; Library of Congress, Google Maps
The National Bank of West Virginia was established in June 1819 and originally did business as the North-Western Bank of Virginia until 1865 when it was nationalized. The bank's first location was at 225 Main Street on the site where George K. Wheat's residence would later be built at 909 Main Street. The bank remained there until 1850 when it moved to a building at the corner of 12th and Main Streets.
On June 5, 1915, a new 10-story bank building designed by noted Wheeling architect Charles W. Bates opened at the corner of 12th and Main Streets, replacing the previous structure. The new building was 144 feet 8 inches tall with a frontage of 47 feet on 12th Street and 70 feet on Main Street. It was constructed of reinforced concrete with a terra cotta facade and faced brick on the west and south sides.
The bank has a long and notable history. It survived the Panic of 1837 without suspending payments in gold and silver coins and continued operating in a sound condition. In January 1897, the National Bank of West Virginia consolidated with the Bank of Wheeling, which had been founded in 1853. As of June 1915, the National Bank of West Virginia had a capital stock of $500,000, surplus of $200,000, and total resources close to $4,000,000, making it one of the strongest banks in the region at the time.
Over the years, the historic bank building has been known by several names including the Klos Tower, the Medical Tower, the W.M. Marsh Building, and most recently the Absure Tower. As of January 2018, the building was vacant and city leaders were hoping that historic preservation tax credits could help rehabilitate and repurpose the structure, possibly into loft-style apartments, in order to save it from potential demolition due to its age and some deterioration. The building had last sold in June 2016 for $165,000. Time was seen as critical to saving the 103-year-old historic structure.
To learn more: (https://shorturl.at/vqVvM) (https://shorturl.at/pi7KB) (https://shorturl.at/BYWBm) (https://shorturl.at/94SfJ) (https://shorturl.at/bUSnI) (https://shorturl.at/135UE) (https://shorturl.at/FcqFn)
Photo credits: Ohio County Public Library Archives, Wheeling WV; Library of Congress, Google Maps
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