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Frank Merz Biography

Frank Merz 1857-1939
Biography of Frank Merz (written in 1933):
Nineteen hundred and thirty-three brings to a close the 60th consecutive year in which Frank Merz, foremost banker of Jamestown, NY, has pursued his career. Now, as a veteran of seventy-six, he holds the position of President of the Union Trust Company, one of the soundest banks of Western New York, made such through his own efforts and splendid banking ability, aided largely by his associate directors and personal friends. Not only is the bank of which he is president a testimonial to his success but he is also the author of many banking forms which were adopted in this city and used before the introduction of bookkeeping machines, now in general use. Along with his many business endeavors Mr. Merz has generously found the time and resources to establish a Boy Scout Camp in nearby Mayville, NY. Aspiring to do for young boys what was not done for him in his youth, he has given during this year the funds necessary to purchase a 300 acre parcel of ground that fronts on Chautauqua Lake. The goal is to make the property suitable for camping for which he will also donate the funds for a well for drinking water and the construction of a dining hall and an administration building. The name of the facility is to be CampMerz and agreements with the Chautauqua County Council of the Boy Scouts of America set forth in the deed require that the camp be operated in perpetuity and no land shall be sold.

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Frank Merz was born in Clarence, Erie County, New York, a suburb of Buffalo, on July 26th, 1857, the youngest of six children of Sebastian and Augustina Merz, who had emigrated from Seadorf, Kingdom of Wurttemberg, Germany in 1847. His mother died in Williamsville, NY, in 1859 and his father in 1861, leaving the six children, Albertina, the eldest, aged 15, Benjamin, Mary, Martin, Theresa and Frank, the youngest aged four, to be cared for by friends and relatives. It fell to the lot of an uncle, Michael Urlocker, in Chippawa, Ontario to provide for Frank and Benjamin. Here Frank remained attending the public school until ten, and Benjamin learned the wood turner�s trade in his uncle�s furniture factory.

Mary and Benjamin in Jamestown at this time, decided to bring the family together and make a home. Benjamin at nineteen was earning his livelihood as a journeyman turner. With his earning and the devotion and determination of Mary, the family was kept together and the children attended school for three years. Benjamin�s health finally broke and so for the second time the Merz family was confronted with the necessity of finding work and a home for themselves.

Frank Merz attended the Jamestown Public Schools from the age of ten to sixteen made his home with Mrs. Smith Seymour, an aged widow, assisting in the duties of the household and with his accustomed zeal making himself generally useful. For this service, he was housed and well fed. In these hardship years he gave thought to the problem of his future life when school days would be over, and when his opportunity presented itself, it was found that his diligence, willingness to work and natural abilities had already qualified him for the success which awaited.

On June 20th 1873, he graduated from the bookkeeping and Commercial Department of the Jamestown Union School & Collegiate Institute. His Diploma states: �Frank Merz is qualified to take charge of Books as an Accountant and to give instruction in all subjects pursued in the Course.� In September of that same year he was offered by David N. Marvin, cashier of the National Chautauqua County Bank, the opportunity of working there as a messenger and clerk. Although the offer was for a six week trial period, he remained for eleven years. After the first three years, he was promoted to teller, applying himself diligently to his own position and slowly rising to fill the places of other men as his outstanding qualities were recognized.

From 1884 to 1893, he was adding to his fund of banking knowledge in the First National Bank of Jamestown, where he held the position of teller. During those early years, he applied himself assiduously to the study of commercial law, negotiable instruments and banking law. His study was never generalized but always pertained to his business. Auditing books for lawyers, estates, and corporations, extending and footing inventories, compiling and extending village assessment rolls outside of business hours, he further proved his diligence and necessarily increased his general knowledge. These outside duties enabled him to save his entire salary for several years.

Eighteen ninety-three, the panic year, found business in Jamestown opportune for the establishment of another banking corporation which had been in the back of Mr. Merz�s mind for some time. With the new year he resigned his position and with the encouragement of the Hon. Charles M. Preston, Superintendent of Banks of the State of New York, turned his attention to the establishment of the Union Trust Company. He solicited subscriptions for stock among his friends, sold every share and raised the capital of $100,000, which was all paid in thirty days. Immediately following, on January 12th, 1894, the date of the charter, the Union Trust Company started in temporary quarters and soon after bought its present bank building at 211 North Main Street and moved in on May 1st, 1894 where it remains to this day.

Mr. Merz was chosen as cashier but was, in truth, its chief executive. His father-in-law, the late E.B. Crissey, who was the real president, had so many other interests in his three neighboring private country banks that he left the Jamestown bank almost entirely to Mr. Merz. The Trust Company was founded with the understanding that Mr. Merz should make the loans because of his long experience in the Jamestown banks. It is recognized that the success of the institution has depended to a large degree on the conservative policy which has been pursued in this loaning power. Consequently the bank�s statement over the period of years from 1894 to 1933 is a remarkable example of pure mathematical progression, starting with a capital of $600,000, Surplus and Reserves $600,000, after paying dividends to its shareholders of $800,000, with losses averaging less than $900 per year.

No wonder, Frank Merz, his policy of safe and sane conservatism, his strict integrity, his devotion to the institution which he founded and consequently, the institution itself, have attracted outside attention. The Union Trust Company was the first bank to become affiliated with the Marine Midland Corporation of New York State Banks. In October, 1928, Mr. Merz sold his personal holdings of bank stock for $500 per share to Mr. George F. Rand, President of Marine Trust Company of Buffalo, who offered to buy every share he could get at that price. This was some time before the Marine Group plan of banks was announced.

The Jamestown Clearing House, established in 1920, was brought into being entirely through Mr. Merz�s efforts. He devised a new clearing house system and filed it with the New York Office of the American Bankers Association, as all clearing houses are requested to do. The Secretary and Manager ordered printed copies for distribution to banks inquiring for them. His system has been endorsed and recommended by the American Bankers Association Journal and published by the Clearing House Section as one of the most simple and workable plans ever filed in its office.

The Chautauqua County Bankers Association, in which every bank in the County is represented, gives sufficient proof of Frank Merz�s diplomatic powers. He was its organizer, with the aid of the Clearing House, and was its first President. He was also responsible for the organization of the Jamestown Chapter of the American Institute of Banking, a night school in winter months, from October to April, for bank employees only. Founding the Chapter in 1922, he was the only bank president of the city to attend its classes and complete the courses of study in law, banking and economics. He passed the annual examinations every year and was the first to be awarded the final graduation certificate in 1927 which reads, �He has completed the courses of study and passed the examination in the theory and practice of banking and such principles of law and economics as pertain to the banking business.� This framed certificate hangs on the wall of his office and he is justly proud of it and all for which it stands.

�Sunnyside Farm� of over two hundred acres, in Sinclairville, twelve miles from Jamestown, was Mr. Merz�s pet hobby. Here he assembled a remarkable collection of thoroughbred stock. His Kentucky saddle horses, Holstein cattle, Shropshire sheep and other pedigreed animals were his great pride and pleasure for many years. He built a handsome summer residence with beautiful surroundings where his children had the joys of youth. His family entertained largely and Mr. Merz�s friends have had many parties there long to be remembered.

An incident in his life which he recalls with pleasure is a foreign trip taken with four other well known Jamestown young men in 1878. On his 21st birthday in he was in Geneva, Switzerland and there properly celebrated his crossing the threshold between youth and manhood. The four month tour included the Paris Exposition, parts of France, Switzerland, Germany where he found many of his kith and kin, Belgium, Holland and England.

Mr. Merz�s interest in Masonry and in the Church have given him a well-rounded existence. He is a member of St. Luke�s Episcopal Church, a Past Master and High Priest of lodge and chapter of the Masonic Order, a Past District Deputy Grand Master of the Grand Lodge of the same order, a member of the Benevolent and Protective Order of Elks and of the Independent Order of Odd Fellows.

Daily for sixty years, Frank Merz has been at his work. His interest is as alive today as it was in September 1871, when as a boy of sixteen, he began his career. Although he is a worker, first, last and foremost, his industry has not been selfish or directed primarily toward self-advancement. His advice is sought by many who attribute their present prosperity to his good judgment. He has made for others far larger fortunes than he had made for himself. He advised the young to save and think always of the future and by far more substantial aid than words, he has started many a young man on a successful career.

His present leadership in financial matters is the result of years of industry. Honesty, integrity and conservatism have been the watchwords of his long and successful life. Not only has he been a hard worker, but he has been a student, and continues to be, in banking and law. By making the most of opportunities and overcoming great obstacles, he has held a foremost place as a financier of marked success over an extended term of years.

On September 9th, 1891, Mr. Merz married Lena Cornelia Crissey, daughter of Elverton B. And Mary Crissey. They have four daughters and 7 grandchildren. Four sons died in infancy.