Mechanics Savings Bank

Founded in 1902 by John Mitchell, Jr., Mechanics Savings Bank was a bank in the Jackson Ward neighborhood of Richmond, Virginia. Mitchell, who was an African American, also owned and edited the Richmond Planet. In 1905 the bank bought a three-story brick building at No. 310 East Broad Street.[1] The bank's Clay Street and Third building was designed by architect Carl Ruehrmund[2] and constructed in 1910.[3] The bank was the chief depository of the Knights of Pythias. At the time of its failure in 1922, the bank had deposits totaling approximately $500,000.[4] In 1930, the Clay Street Building was purchased by the Southern Aid and Insurance Company.[5]

Mechanics Savings Bank building in the 1970s after it had become home for the Southern Aid and Insurance Company
Photograph of Mechanics Savings Bank president John Mitchell Jr. published in the Richmond Planet
Mechanics Savings Bank Board of Directors printed in 1902. John Mitchell Jr. is fourth from the left in the front row

References
  1. "Mechanics Savings Bank Buys More Broad Street Property ยท Black Virginia: The Richmond Planet, 1894-1909". Blackvirginia.richmond.edu. Retrieved 14 January 2018.
  2. https://www.nps.gov/mawa/learn/photosmultimedia/upload/Jackson-Ward-Podcast-transcription.pdf
  3. "Mechanics Savings Bank". Lva.virginia.gov. Retrieved 14 January 2018.
  4. Hoffman, Steven (2017). Race, Class and Power in the Building of Richmond, 1870-1920. p. 156.
  5. https://www.nps.gov/mawa/learn/photosmultimedia/upload/Jackson-Ward-Podcast-transcription.pdf


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.