Title
Alabama State Bank Building, circa 1870
Subject
Banks and banking
Nichols, William, 1777-1853
Description
In front of the Alabama State Bank Building on Broad Street (now University Boulevard) on horseback are members of the Fitts family. They are James Fitts Alston, Samuel Fitts Alston (second President of the Bank), and Marilou Alston.
The State Bank of Alabama was organized in 1820 by the State Assembly at Cahaba. When the state capitol moved from Cahaba to Tuscaloosa, the bank, by law, had to move as well.
The Alabama State Assembly of 1825 provided the bank with $2,000 to be used for moving the bank to Tuscaloosa. Land on Broad Street between 25th Avenue and Greensboro was purchased from Alexis Tardy for $750. The state bank building was designed by William Nichols as was the old state capitol building. The building contained banking rooms on the ground floor and living quarters upstairs for the cashier and his family. On January 1829, a listing of costs included $8,000.15 for the building and lot and $597.67 for its furnishings.
The State Bank was a failure partly due to political ineptitude and the panic of 1837. In 1845, the State Charter allowed the State Bank to expire and the state covered all debts.
In the 1870s, James Harris Fitts purchased the building and housed his bank in it. In 1887, Fitts moved his bank into a building further down the north side of Broad Street towards 23rd Avenue, but continued to use the state bank building for his residence. W.F. Fitts purchased the house from other heirs in 1919 and demolished it to build Shepard Motor Company.
The State Bank of Alabama was organized in 1820 by the State Assembly at Cahaba. When the state capitol moved from Cahaba to Tuscaloosa, the bank, by law, had to move as well.
The Alabama State Assembly of 1825 provided the bank with $2,000 to be used for moving the bank to Tuscaloosa. Land on Broad Street between 25th Avenue and Greensboro was purchased from Alexis Tardy for $750. The state bank building was designed by William Nichols as was the old state capitol building. The building contained banking rooms on the ground floor and living quarters upstairs for the cashier and his family. On January 1829, a listing of costs included $8,000.15 for the building and lot and $597.67 for its furnishings.
The State Bank was a failure partly due to political ineptitude and the panic of 1837. In 1845, the State Charter allowed the State Bank to expire and the state covered all debts.
In the 1870s, James Harris Fitts purchased the building and housed his bank in it. In 1887, Fitts moved his bank into a building further down the north side of Broad Street towards 23rd Avenue, but continued to use the state bank building for his residence. W.F. Fitts purchased the house from other heirs in 1919 and demolished it to build Shepard Motor Company.
Source
Tuscaloosa News Archive
Date
Circa 1870
Contributor
Betty Slowe (Description)
Elizabeth Bradt (Description)
Type
Photograph
Identifier
342
Coverage
Tuscaloosa (AL)
Original Format
Photograph
Physical Dimensions
5 inches x 8 inches