The contacts on the original spring wound master clock were not heavy enough to feed direct current to the dial magnets and the chime hammer magnets so intermediate relays were used in conjunction with condensers of the paper tinfoil type. Such condensers, also called capacitors in the lexicon of electronics, have the same electrical nature as the Leyden Jar (Musschenbrock principle) used by Benjamin Franklin in his famous experiment with lightning. Condensers do so many things and can be explained by limitless analogies. Maybe the best analogy is a saving account, since a condenser can absorb excess, smooth out irregularities, and it can accumulate small amounts and yield the total on demand.

Most of the above functional details are changed in the new clock. In the center of the outside clock, between the four faces, is a smaller version of a church tower clock. Its vertical shaft carries two mitre gears, which engage 4 mitre gears to turn the four shafts, which are U jointed to the four faces. The gearbox for this system was machined from a solid aluminum block. On top of it is a 60-1 gear train, turned by a standard 1 rpm clock motor. In case of a power failure the clock faces can be set from the master clock case or at the outside clock.

The old master clock case on the wall has now been filled with new machinery to play quarter hour chimes and strike the hours. This is still done by telegraphy, but the batteries are now replaced by a 24-volt transformer. The contacts are standard micro-switches, the arms of which are actuated by smaller versions of the traditional tower clock chime drum and hour wheel systems. By transmitting the chime impulse on 24 bolts AC the contacts can easily handle the load without relays or capacitors. At the chime hammer magnet (end of the line) this current is made into DC by a full wave bridge of four silicon diodes for each chime hammer magnet. AS old timer electricians well know, any contact will handle many times as much alternating current as direct current, but when the old clock was built the technician did not have on have the little diodes we use so freely today.

Work on the clock was done by the George B. Kavanaugh Pipe Organ & Belfry Service of Columbia, MO. George B. Kavanaugh is the fourth in apprenticeship line of the tower clock building firm since it was brought to St. Louis from Germany well over a hundred years ago by Philip Pollhans who son was Ed Pollhans who took an apprentice named George Hoffmann who in turn taught George Kavanaugh for eight years of building clocks together, this relationship terminating with Mr. Hoffmann’s death (timely and in bed). Kenneth B. Kavanaugh is now the fifth in line and he and his father are at the point where they believe they can combine ancient traditions with modern trends, reliability with precision.

The first bank in Staunton was established in 1874 by H. W. Wall, grandson of Staunton pioneer, Telechemus Camp, and James Taylor. The bank was known as the Wall and Taylor Bank.

In 1883 Emanuel Friedman started a bank known as Friedman & Co., this bank operated for ten years, and then failed.

In 1893 Hampton W. Wall and J.C. Panhorst bought the Friedman fixtures and operated a bank under the name of Wall & Panhorst. This was continued until Mr. Wall’s death on August 16, 1898, when it was taken over by his sons, W.P. and C.R. Wall, under the name of Wall Brothers. In 1901, W.P. Wall took over his brother’s interest, and continued under the name of Wall & Co. Bank, being joined in 1902 by his brother-in-law, C. Godfrey. Wall & Co. Bank located on the corner of Main and Elm Streets. (110 West Main)

In March 1902, C.R. Wall and O.E. Quade opened the Wall and Quade Bank, later to be known as the Wall, Luker & Co. Bank. This was located on the corner of Main and Elm Streets (200 W. Main) across from Wall & Co. Bank. This continued for several years and then was reorganized as the Staunton national Bank, chartered September 8, 1922 and located at 111 West Main Street.

In 1913 the First National Bank was organized and located at 213 West Main Street.

On Feb. 1, 1932, the Macoupin County Banker Federation, of which both of the above banks were members, issued a notice to the public regarding banking laws that had to be carried out by the banking institutions. This probed to be very sound judgment on the part of the Federation, because on March 6, 1933, the President, Franklin D. Roosevelt, by proclamation closed all the banks in the United States. This was known as a “bank holiday”. Banks needed this because depositors had been withdrawing their funs with such speed that many banks had run out of money to pay over the counter. This holiday lasted several days, during which time Congress passed the Emergency Banking Act of March 9, 1933. Under this act, banks, which had enough money, could declare and end to the bank holiday and reopen, beginning March 13, 1933. Because Macoupin County Bankers Federation had taken precautions during this time of panic, they began to reopen their banks immediately.

On December 12, 1934, the two banks in Staunton merged and received its charter for what was then known as The First National Bank, at 111 West Main St. A new facility was built in 1970 and stands today (1988). A branch banking law was changed in the early 1980’s and First National Bank built a facility in Livingston, Illinois, which opened December 26, 1984. Another facility was built in Worden, Illinois, and opened February 1, 1988. The bank is now known as The First National Bank, Staunton, Livingston, and Worden, Illinois.

The First National Bank in Staunton was owned by Joseph W. Rizzie, major stockholder. Mr. Rizzie had entered banking in January 1916, when he and his brother, Herman Rizzie were named President and Cashier, respectively, of the First National Bank of Benld. After the death of Mr. Rizzie, May 7, 1968, the two banks (Staunton and Benld) was under the majority ownership of Mr. Rizzie’s daughter, Josephine and her husband, Ralph W. Oltmann. It remained as such until May 1, 1983, when Mr. Oltmann sold the First Nation Bank of Benld to General Bancshares Corp. of St. Louis. They have since been sold and are now a part of Boatman’s Bank of St. Louis. Mr. and Mrs. Oltmann remain as majority owner of the First National Bank in Staunton, where Mr. Oltmann serves as Chairman of the Board.