Today in Wheeling History: May 6--The Central Union Trust Company was founded under the original name of Quarter Savings Bank (1901).
The Quarter Savings Bank was organized on May 6, 1901, and incorporated on July 1, 1901, in Wheeling, West Virginia by F. H. Frazier, R. H. McKee, J. C. Divine, J. W. Speidel, and F. J. Ball with a capital of $25,000. It was originally located at 1521 Market Street. In 1914, the bank increased its capital stock to $100,000 and moved into a new building designed by architect Frederick F. Faris at the southwest corner of 16th Street and Market Street (now demolished, currently a parking lot for WVNCC Student Center). The bank was renamed Quarter Savings & Trust in 1920. On July 22, 1926, it moved into an even larger 10-story building at 1403 Market Street, on the southwest corner of 14th and Market Streets, at which time it was rebranded as the Central Union Trust Co. The impressive new building, built on the former site of the House & Herrmann department store, was designed by Wheeling architect Charles W. Bates. However, the Central Union Trust Co. failed during the Great Depression on September 8, 1931. The building was subsequently managed by the Central Union Co. from 1937 to 1985 and is now part of WesBanco's Bank Plaza complex.
To learn more: (https://tinyurl.com/44nymskm) (https://tinyurl.com/45euh454) (https://tinyurl.com/y7j8nuvr) (https://tinyurl.com/37w6rzpa) (https://tinyurl.com/55fsrrxp) (https://tinyurl.com/37w6rzpa)
Photo Credits: Ohio County Public Library Archives, Wheeling WV; Google Maps
The Quarter Savings Bank was organized on May 6, 1901, and incorporated on July 1, 1901, in Wheeling, West Virginia by F. H. Frazier, R. H. McKee, J. C. Divine, J. W. Speidel, and F. J. Ball with a capital of $25,000. It was originally located at 1521 Market Street. In 1914, the bank increased its capital stock to $100,000 and moved into a new building designed by architect Frederick F. Faris at the southwest corner of 16th Street and Market Street (now demolished, currently a parking lot for WVNCC Student Center). The bank was renamed Quarter Savings & Trust in 1920. On July 22, 1926, it moved into an even larger 10-story building at 1403 Market Street, on the southwest corner of 14th and Market Streets, at which time it was rebranded as the Central Union Trust Co. The impressive new building, built on the former site of the House & Herrmann department store, was designed by Wheeling architect Charles W. Bates. However, the Central Union Trust Co. failed during the Great Depression on September 8, 1931. The building was subsequently managed by the Central Union Co. from 1937 to 1985 and is now part of WesBanco's Bank Plaza complex.
To learn more: (https://tinyurl.com/44nymskm) (https://tinyurl.com/45euh454) (https://tinyurl.com/y7j8nuvr) (https://tinyurl.com/37w6rzpa) (https://tinyurl.com/55fsrrxp) (https://tinyurl.com/37w6rzpa)
Photo Credits: Ohio County Public Library Archives, Wheeling WV; Google Maps
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