TABLE OF CONTENTS
|Creator:||Marsh, Theron L.|
|Title:||Theron L. Marsh Papers|
|Abstract:||This collection, belonging to Theron L. Marsh, pertains mostly to his career as a bank executive for the Midlantic Bank of Newark, N.J. It also contains some Marsh family history and some materials pertaining to The New Jersey Historical Society, an organization for which he served on the Board of Trustees.|
|Quantity:||.66 linear feet (2 boxes located 5th fl. above Curator of Manuscripts desk)|
|Collection Number:||MG 1683|
Newark Banking and Insurance Company, the city's first bank, opened for business on June 20, 1804 in temporary quarters at the house of Smith Burnet on Broad Street. One year later, the bank's permanent office opened nearby on Broad Street and "Maiden Lane"-later to become "Bank Street" in honor of the bank. For the next fifty years, this building served the growing needs of the firm.
The city of Newark continued to develop during the first half of the nineteenth century as new forms of transportation linked its market with New York and Philadelphia. During this time the bank renewed its charter, taking the opportunity to change its name to "The Newark Banking Company" (the bank had discontinued the insurance side of the company in 1829 because it was not as profitable as the banking business). Ten years later in 1865, the bank was reorganized as a national banking association-a distinction that freed it from the heavy taxation on state bank notes-and changed its name once again, this time to "The National Newark Banking Company." The remainder of the nineteenth century was full of challenges and advancements for the bank. As local markets became large companies serving the nation and not just the city or even the state, the bank's resources reflected similar growth.
Early in the twentieth century the bank consolidated with the Essex County Banking Company. This was not to be its last consolidation. Throughout the 1950s the bank continued to transform through a series of mergers and acquisitions with a number of local banks. In 1962 the bank changed its name once again, this time to "National Newark and Essex Bank," a name that conveyed its further expansion. By the late 1960s, the New Jersey Legislature approved new laws that altered the ways banks could do business. These alterations meant that they could operate as holding companies allowing statewide banking and providing broader markets for banking activities. National Newark and Essex Bank took advantage of the new laws and became a part of a holding company named Midlantic Bank Inc. This new holding company was initially comprised of four banks: National Newark and Essex was the lead bank, Sussex & Merchants National Bank represented the northern district, Raritan Valley National Bank represented the central district, and Elmer Trust Company represented the southern district. Throughout the 1970s, Midlantic Bank continued to acquire additional banks, and by the end of the decade was ranked as one of the top seventy banking institutions for its size in the United States.
Theron L. Marsh, as a recent Princeton University graduate, began work at the National Newark and Essex Banking Company in 1934. He enlisted in the U.S. Army in 1942 and commissioned as a second lieutenant. He received a major's commission in 1945 and was discharged that same year. Upon Marsh's return, he discovered the Bank's assets nearly tripled in growth due to economic boom related to defense production. Marsh was named vice president and cashier in 1956, executive vice president and cashier in 1961, a director in 1966, and president in 1970. He retired as chairman and chief executive officer in 1976. As Marsh's involvement in banking increased, he participated in community activities, notably the Boy Scouts of America. He was also a Trustee of The New Jersey Historical Society in the early 1990s.
The collection consists of three distinct parts: Theron L. Marsh's family history; materials pertaining to the NJHS; and materials related to Marsh's employer, Midlantic Bank. Papers concerning Marsh's family history include book reprints, articles, personal accounts, and photographs. Materials related to Midlantic Bank consist of: two books, one being a history of the bank and the other being a directory; annual reports; company newsletters, brochures, and photographs. It also contains newspaper clippings relating directly to Marsh.
|The entries below represent persons, organizations, topics, forms, and occupations documented in this collection.|
|Marsh, Theron L.|
|National Newark & Essex Bank (N.J.)|
|National Newark Banking Company (N.J.)|
|Newark Banking & Insurance Company (N.J.)|
|The New Jersey Historical Society (Newark, N.J.)|
|Banks and banking--New Jersey|
This collection should be cited as: Manuscript Group 1683, Theron L. Marsh Papers, The New Jersey Historical Society.
Donated by Theron L. Marsh, 1998.
Theron L. Marsh Collection
|1||1||"Loose Leaves." the Marsh family history. Part 1 of 5.||1977-1982|
|1||2||"Loose Leaves." Part 2 of 5.||1982-1987|
|1||3||"Loose Leaves." Part 3 of 5.||1987-1990|
|1||4||"Loose Leaves." Part 4 of 5.||1990-1995|
|1||5||"Loose Leaves." Part 5 of 5.||1995-1997|
|1||6||Printed materials: correspondence, rosters, and materials related to The New Jersey Historical Society||1991-1994|
|1||7||Printed materials: One Hundred Years 1804-1904; Directory of New Jersey Banks 1804-1942; Directory of New Jersey Banks, Supplements 1-7||1904-1958|
|2||1||Newspaper clippings, mostly pertaining to Theron Marsh and other bank executives||1951-1972|
|2||2||Printed materials: Midlantic Bank annual reports||1954-1965|
|2||3||Printed materials: Midlantic Bank annual reports||1966-1969|
|2||4||Printed materials: Midlantic Bank annual reports||1970-1971|
|2||5||Printed materials: Midlantic Bank annual reports||1972-1975|
|2||6||Printed materials: Inside Midlantic, newsletters||1971-1976|
|2||7||Printed materials: condensed statement of financial condition; The New Home of National Newark and Essex Banking Co.; National Newark and Essex Banking Company 125th Anniversary||1929-1954|
|2||8||Printed materials: National Newark and Essex Banking Co./Midlantic Bank brochures||1960-1974|
|2||9||Visual materials: photographs||1865, undated|
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