GRAND OLD MAN RESIGNS

5 Jan 1930 - Traverse City Record Eagle

A Banking Story That Delves Deeper Than Finance, and Relates of Real Pioneering

        History was written at the annual meeting of the First National Bank of Traverse City Tuesday, at which time Hon. Frank Hamilton, venerable president of the banking institution for a great many years, and of the founders, resigned.  H. A. Musselman was elected to succeed him.

        The resignation of Mr. Hamilton was not unexpected; for the past two or three yeas he had promised himself relief from the labor and responsibility of the presidency.  The Grand Old Man of Northern Michigan observed his eighty-first birthday last November, and the time had arrived when he felt like shifting the responsibility to younger shoulders.

        In line with his wish he did not sever his connections with the bank.  Rather, he traded posts with Mr. Musselman, who for many years has served as first vice-president of the bank.  consequently Mr. Hamilton now becomes vice-president, the other officers being:

        William Kellogg, Cashier;  A. L. LaFranier, Assistant Cashier;  Chas. D. Alley, Auditor.  The board of directors remains the same: Ralph Case, W. P. Crotser, Frank Hamilton, Wm. Kellogg, H. A. Musselman, G. W. Power and A. W. Rickerd.

        In his new connection as vice-president, Mr. Hamilton will be compelled to devote very little time to the actual management and daily routine of the First National Bank, will still keep in touch with developments and progress.  This is as he wishes, rather than complete retirement from the banking institution.

        It has been largely under the guidance and business sagacity and vision of Hon. Frank Hamilton that the First National Bank arose from obscurity nearly half a century ago and became an important portal in Northwestern Michigan.  Its history, the story of its inception, its rapid and firm growth and the important post it attains and maintains in this great region are so closely entwined with the personal history and achievements of Hon. Frank Hamilton, that his resignation constitutes reason sufficient to review the birth and life of the First National Bank.

ONE OF THE FOUNDERS

        It was on 8th April 1885, that a little group of business men opened the doors of the First National Bank of Traverse City for the first time.  In that group were:

        Frank Hamilton, John C. Lewis, who came here from Whitehall, Carl A. Hammond, John T. Beadle,
        Walter S. Johnson, Collins H. Johnston of Suttons Bay, and DeWitt C. Leach.

John C. Lewis was elected President; John T. Beadle, Vice-President and Carl A. Hammond, Cashier, while the first board of directors consisted of these three and the above named incorporators.  The bank opened for business in the old Leach building that for years stood at the corner of Park and Front Streets.

        In the year 18889, First National Bank moved to the corner of Front and Cass Streets, where the Milliken block now stands, occupying that location until 1907, when the business was transferred to its present beautiful home.

        Through all these yeas Hon. Frank Hamilton served as a member of the board of directors, the annual meeting Tuesday rounding out 41 years of service, unbroken, in the directorate, a portion of these years having seen him in the capacity of vice-president of the institution.

        At the annual meeting held in January, 1925, Mr. Hamilton was elected president of the bank, succeeding Dr. J. D. Munson, who had held the important post since 13th January 1914.  For five years, Mr. Hamilton has served the bank as president.  Forty-one yeas as a director and officer of the same bank is an enjoyable record, and members of the directorate of the First National Bank doubt if Mr. Hamilton's record has been attained by any other Michigan banker.

        A builder, a man of vision, a man of unquestioned integrity, a man with unbounded faith in his city and region, Hon. Frank Hamilton has contributed a vast amount to his community, and has earned the rest from actual business management that he now proclaims for himself.

        As a builder, he sided in the establishment of the pioneer firm of Milliken and Hamilton, and later the Hamilton Clothing Company.

        As a builder, his name is written into ever development of the First National Bank since its birth.

        As a builder, his name must be remembered when one considers the remarkable highways of Northern Michigan, in the development of which he pioneered, and is still active.  The State of Michigan recognized this tremendous contribution on his part by naming the main trunk line that connects Traverse City with the north and the south, in his honor.   

        Always building, always building well with an indomitable, unfailing faith, Hon. Frank Hamilton has made his indelible mark in the city and region, industrially, commercially and financially, and now, after 81 years, he believes he has earned a rest.  His friends agree with him.  His directorate agrees with him.

        Howard A. Musselman, who accedes to the presidency, almost classifies as a pioneer in Traverse City banking circles.

        He came to Traverse City in December, 1901, and associated himself with the First National Bank when it occupied the Milliken corner location.  Shortly after that he was elected to the directorate, and in January, 1925, was elected first vice-president.

        Mr. Musselman came to Traverse City as branch manager for the Musselman Grocer company, the present National Grocer company.  He is today vice-president of this institution, having warehouses and wholesale establishments all over the State of Michigan, and is the oldest man, in point of service, on the board of directors of the National Grocer Company,  likewise the oldest branch manager, in point of service, in that institution.  Mr. Musselman is likewise chairman of the board of control of National High School Orchestra Camp, at Interlochen.

Grand Traverse Region by Brenda K. Wolfgram Moore
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11Oct 2005