BANK OF SAN JOSE
The oldest banking
institution in San Jose is the Bank of San Jose, now located at the
northeast corner of First and Santa Clara Streets. It was opened
for business in the Knox Block in March, 1866, by William J. Knox and
T. Ellard Beans under the firm name of Knox and Beans and was conducted
as a private banking house until January 31, 1868, on which date it was
incorporated in Central California. The first officers were John
G. Bray, president; T. Ellard Beans, cashier and manager; C. W.
Pomeroy, secretary. In 1880 Johyn T. Colahan, former city clerk,
was appointed assistant cashier. In 1870 Mr. Bray died and T.
Ellard Beans became president, a postion he held until his death in
1905. Henry Philip succeeded Mr. Beans as cashier, acting in that
capacity until 1875, when he was succeeded by Clement T. Park. W.
V. Dinsmore was Park's successor. He resigned in 1912 and V. J.
La Motte took his place. On the death of T. Ellard Beans, his
son; William Knox Beans, became
president. In 1871 the Bank of San Jose block, at its present
location, was begun. It was completed in 1872. In 1906 the
building was damaged by the earthquake and in 1907 it was torn down and
new five story, reinforced concrete building was erected on the
site. The presnt officers are Wililam Knox Beans, president;
Victor J. LaMotte, vice- president and manger; A. B. Post,
cahier. The capital stock is $300,000; surplus and reserve,
$358,000.
T. Ellard Beans, one of the founders of the bank, was born in Salem, Ohio. and his early life was spent in mercantile and banking pursuits. He came to California in 1849 ,mined for a time and then went into mercantile busienss in Nevada City. He nearly lost his life in the great fire in that place in 1856. Ten years later he removed to San Jose. His death was generally regretted for he was one of the city;'s most reliable and competent busienss men. His son, Willial Knox Beans, entered the bank in 1878 and was vice-preseident before he took the higher office so long held by his father.
T. Ellard Beans, one of the founders of the bank, was born in Salem, Ohio. and his early life was spent in mercantile and banking pursuits. He came to California in 1849 ,mined for a time and then went into mercantile busienss in Nevada City. He nearly lost his life in the great fire in that place in 1856. Ten years later he removed to San Jose. His death was generally regretted for he was one of the city;'s most reliable and competent busienss men. His son, Willial Knox Beans, entered the bank in 1878 and was vice-preseident before he took the higher office so long held by his father.
Transcribed by Carolyn Feroben, from Eugene T. Sawyers' History of Santa Clara County,California, published by Historic Record Co. , 1922. page 270
SANTA CLARA COUNTY BIOGRAPHY PROJECT
SANTA CLARA COUNTY HISTORY - THE VALLEY OF HEART's DELIGHT