Nichols Hobson cont

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Nichols Hobson cont - Hobson (Continued from jkge 18) the young man...
Hobson (Continued from jkge 18) the young man went to Hunts-ville, Ala., where he began his career In banking with the PlanterslaniLMerchants' bank. He fell heir to great responsibility early. He was 22 years old when the directors entrusted to him the transportation of funds from Huntsville to a branch of the Bank of United States at Savannah, Ga. THE secretary of the treasury required that $350,000 be transferred from the Huntsville bank. Carrying the money in saddlebags made especially for the purpose, young Hobson made three trips to the coast between August of 1818 and February, 1819. "The last two trips," he recorded, "I made entirely alone." He covered the 480 miles in 23 days. In 1826 Hobson wrote that he returned "to the old homestead In Nashville" where he had lived as a boy with his parents, William and Jeannette McLaurin Hobson, after the family's arrival from Cumberland county, Va., in 1807 when the son was 11 years old. "The country was almost an unbroken forest and very thinly populated . . ." Hobson recalled. "At that time Nashville was but a little village of about 500 souls. My father selected a tract of land on the east side of the Cumberland river, filled with fine timber. We soon had a place cleared sufficiently large for a home and to raise supplies for the family. The timber used for building the house was all sawed""by hand on the place by slaves, our blacksmith forging all the nails used." The house still stands on Woodland street in East Nashville. It was occupied by members of the Hobson family until 1858 and has been kept in repair by subsequent owners. From its door the Hobson boys and girls Mrs. Nicholas Hobson M ) li X A Mary Eliza Hobson issued every morning to attend a country school until Nicholas entered Cumberland college in 1809. With Hobson on his return to Nashville was his wife, an Alabama girl named Sarah Ann. Two years later he became bookkeeper of the Nashville branch of the Bank of United States of which Joslah Nichol was president. After six years he became cashier of the newly chartered Planters' Bank of Tennessee, whose capital stock was set at $2,000,000. Edward Brinley Littlefield, a son-in-law of the Revolutionary war general, Nathaniel Greene, was the president. HOBSON remained with the Planters bank for 19 years. Then, following the marriage of his daughter, Susan, to Wesley Wheless on June 12, 1849, he commenced a partnership in the banking and brokerage business with his new son-in-law. Of this union of family Interests, he wrote, "Four years later we changed our business to the Bank of Nashville. We prospered beyond our expectations and eventually purchased ground on College street, where we erected a banking house that for convenience and comfort surpassed anything in Nashville." The lot on which the new building rose was near Union street and was bought for $8,-175 from the heirs of one of Nashville's early postmasters, Robert B. Currey. But business in the $14,000 bank building was not destined to flourish for many years. According to the McGavock journal cited earlier, when the doors of the Bank of Nashville closed in 1857 a panic followed. "The old banks refuse to take any of the Free Bank notes today (September 28) and the consequence has been that every holder of Free Bank notes is trying to get rid of them. "A monetary crisis seems to (Continued on page 22) THE NASHVILLE TENNESSEAN MACAZINE, APRIL 19. 1953

Clipped from
  1. The Tennessean,
  2. 19 Apr 1953, Sun,
  3. Page 119

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  • Nichols Hobson cont

    dag3bmtsu – 02 Feb 2017