Commercial National Bank
Commercial National Bank Soundex Code C562
During the year of 1892 George W. McCabe read law with his brother Edward D. McCabe in Peoria, Illinois but the following year came to Chatsworth, Illinois and purchased a lot, upon which he erected a modern, fire-proof, bank building, Beginning work in April and opening for business in October of that year.
Almost immediately George secured a liberal patronage and is now doing the leading general banking business in the community, having as his assistant H.S. Cowling, a prominent young man of Chatsworth, Illinois. Cowling is enterprising, energetic and progressive and has conducted the business for seven years without the loss of a dollar. He is also quite extensively interested in real estate and loans, and is president of the Peoria & Eastern Telephone Company, a growing concern, having several exchanges in the system. In 1897 Mr. McCabe purchased a lot at the corner of Fourth and Hickory streets and erected a modern residence, fitted with all improvements, and one of the handsomest and most convenient houses in Chatsworth, Illinois.
On Thursday, August 2, 1900, the Commercial National Bank of Chatsworth, Illinois, was incorporated with capital stock amounting to $25,000, of which amount George W. McCabe took $19,000. To the new institution he turned over the entire assets of his private bank, and it was mainly through his efforts that the bank was organized. Believing that a National bank afforded more security to the depositors of the bank, and would the better secure the confidence of the community, he undertook the work of organization and incorporation. This new institution will afford to the citizens of Chatsworth, Illinois and vicinity every facility for safe banking, and under the general management of Mr. McCabe it will secure the confidence of the community, as he occupies the position of cashier and general manager. The other officers of the bank are Stephen Herr, president; John F. Ryan, vice-president; and H.S. Cowling, assistant cashier.
