Bank of Bramwell
This is the front door steps to the Bank of Bramwell.
This is a view of the Bank of Bramwell building.
Backstory and Context
After the Bank of Bramwell was established it quickly became one of the leading financial institutions in the region. The bank was located one block from the railroad station and financed many local and regional businesses during an era of rapid economic growth in this part of West Virginia. The bank financed projects far from the coal fields, including two projects in Washington D.C., the Burning Tree Country Club and the National Woman’s Golf Club. During World War I, the first Liberty Bonds that were sold in the region were sold at the Bank of Bramwell.
Over the next ten years, bank profits remained high. However, in 1931 the Great Depression took its toll on the bank and area businesses. This was I.T. Mann’s last years as the Bank of Bramwell’s president, as he died in 1932. Harry Bowen took over the role of the bank’s president, but nothing could be done because the “bank was sinking fast.” In 1933, the bank suffered severe losses. The bank directors realized the bank was in trouble and began liquidation procedures.
The Great Depression of the 1930s ended an era characterized by large business deals and the arrival of many millionaires being made in Bramwell. With the coal industry growing, independent operators were forced to sell out or to merge with large corporations. With the national depression, the Bank of Bramwell was forced to close its doors. Since the bank closed, and the depression was taking its toll on the economy, many families moved away from Bramwell. This was the unfortunate end of an era of growth in Bramwell.
"Bramwell: Town of the Millionaires." Mercer County WV. N.p., n.d. Web. 21 Feb. 2017.
"THE HISTORY OF BRAMWELL,WV ,." THE HISTORY OF BRAMWELL,WV ,. N.p., n.d.
Web. 21 Feb. 2017.
"West Virginia's "Home of the Millionaires"." Appalachian History. N.p., 18 Aug. 2016. Web. 21 Feb. 2017.