Trader’s Bank
In 1883, John Culver the blacksmith opened up his business here on this very site, and by most accounts, the first business of any substance in Salisbury. His shop being the second of any business house erected. The first business house was that of a general store opened by John H. Thomas.
The exact number of different businesses housed inside has been lost to history. A barber, clothing store, the telephone exchange and The Democrat printing press. Trader’s Bank was one of the more profitable businesses located here. Note the tile entry boasting its name.
Trader’s Bank opened its doors in 1914, being the third bank in Salisbury. The organizers were H.L. Hayes, W.E. Sutter, E.F. Spellman, and E.J. Sutter, with an initial capital stock of $10,000.
The bank was literally caught in the crossfire in 1917, when a scuffle on the street erupted into gun fire. In the midst of the shootings, A.P Brunk was shot in the foot and a stray bullet pierced the window of the bank.
In 1919, the bank reported total deposits of $273,575, the third largest amount reported in the county. Despite all outward appearances of being increasingly profitable, the bank endured numerous audits due to claims of being insolvent (bankrupt). It is likely due to these audits, that interest in the bank was bought and sold numerous times. Yet each time, the bank managed to bounce back – until 1935, that is.
On July 23, 1935, the bank was placed under restriction, pending a complete audit of their financial dealings. The bank held numerous notes for the Model Mills enterprise which was funded almost exclusively by Trader’s Bank. Notes that the bank was unable to make good on and would eventually lead to intensive court proceedings. Bank manager W.E Sutter would never spend a day in court.
On January 9, 1936, contrary to local popular lore that he hanged himself in the basement of the bank, Mr. W.E. Sutter was found hanged in a barn at Model Mills. County Coroner F.L. Harms quickly gave verdict the death was suicide. “The coroner attributed the suicide to Sutter’s worry over losses of friends in the bank and recent refusal of the FDIC to approve plans for reorganization.”
This location and the plethora of businesses housed within hold their share of excitement, tragedy, and nostalgia.
Additional businesses here include Temple Steven’s grocery store, Hunker Hardware, the Long Branch Saloon, the Broadway Bar, and McTag’s bar.
It is currently owned by Charlie & Samantha Massie who run a studio AirBnB upstairs “The Broadway Lofts.” Their future plans are to completely renovate the downstairs into a lively taphouse.
Clue
Where once stood a stand, now flowers grow to mark the center of Broadway at 3rd.