Lawrence E. Sands (Pittsburgh, PA)
Lawrence E. Sands (Aug. 4, 1859 – Oct. 19, 1928)
Biography
- Name: Lawrence E. Sands
- Birth: August 4, 1859 Fairmont, West Virginia
- Death: October 19, 1928 O'Hara Township Allegheny County, Pennsylvania (Buried Wheeling, WV)
- Son of banker Joseph E. Sands and brother of bankers C. Sprigg Sands and Oliver J. Sands
Early life and family
Lawrence E Sands was born in Fairmont, West Virginia on August 4, 1859. He was the son of Joseph E. Sands, one of West Virginia's most prominent citizens and Fairmont pioneer banker, and Virginia (Eyster) Sands, daughter of William D. Eyster of Fairmont. Joseph and Virginia were married on October 14, 1858 by Dr. Perkins, afterwards rector of a Louisville, Kentucky church. Eight children were born to this union.
In 1883 he married Miss Eugenia Wagner in Wheeling. Miss Wagner was the daughter of John Wagner, Esq., cashier of the National Bank of West Virginia. Guests included Jos. E. Sands and family, of Fairmont; Thos. R. Evans and family, Prof. W.P. Willey and family, and A.W. Lorentz and wife, Morgantown; Mr. and Mrs. Chas. Senseney, Moundsville; Miss Rea, of Pittsburgh, Miss Johnston, of Wellsville, and Miss Hagans, of Morgantown.
Banking career
Beginning his banking career, in 1876 with his father, who was cashier of the First National bank of Fairmont, West Virginia, he rose to the presidency of the First-Second National Bank of Pittsburgh in 1914. In 1880 he became identified with the National Bank of West Virginia in Wheeling, with which he was associated for 14 years. Leaving the West Virginia bank in 1895, he became cashier of the Exchange Bank of Wheeling. On December 29, 1898, the National Exchange Bank of Wheeling received its charter. Later he was elected vice president and in 1911 he became president, continuing at this post until he took up the presidency of the reorganized Pittsburgh bank. He was a director of the Peoples Savings & Trust Co., Dollar Savings Bank, Dollar Savings & Trust Co., and the Pittsburgh Clearing House Association.
Under the reorganization plans of the First-Second National Bank of Pittsburgh, it will have capital of $4 million and a surplus of $1 million to be secured by the sale of new stock at $125 a share but with a par value of $100, the extra going to make up the surplus. Over $12 million in bonds were held at the Treasury in Washington. The new officers included Lawrence E. Sands, president, J.B. Finley, chairman of the board, and J. Milton Young, cashier. The Pittsburgh Clearing House Association approved the petition to reinstate the bank, subject to formal approval by the comptroller of the currency.
Other career highlights
Mr. Sands was a thirty-second degree Mason and a member of the Duquesne, Pittsburgh, Fox Chapel Golf and Allegheny Country clubs. He was a director of the Allemania Fire Insurance Co., Columbian Enameling & Stamping Co. of Terre Haute, Indiana, Imperial Glass Co. of Bellaire, Ohio, and the Hitchman Coal & Coke Co. of Wheeling, West Virginia. He retained membership in St. Luke's Episcopal church of Wheeling, and attended the Church of the Ascension in Pittsburgh.
Later life and death
Thousands of Boy Scouts throughout Allegheny County mourned the death of Lawrence E. Sands, president of the First National Bank at Pittsburgh and president of the Allegheny county division of the Boy Scouts of America, who died suddenly on October 19, 1928. Up to his death he was furthering the interests of the Boy Scouts. He had gone to Guyasuta, a Boy Scout reservation near Aspinwall, to attend a dinner for Scout fund-raising purposes. While awaiting, the start of the dinner, Sands undertook an inspection of the reservation and gloried in the achievements of his protégés. He examined a new cabin and was being assisted down a slight grade when he faltered and exclaimed. "Wait a min--." Unconscious, he slipped from the arms of Alexander Reed and John A. Price to a heap of autumn leaves. Reed, trust officer of the Fidelity, Title & Trust Co., and John A. Price. advertising representative, summoned Scouts and fellow members of the general executive committee of the Boy Scout organization. While the Boy Scouts worked to revive their fallen leader, Dr. J. L. Marshall, of Aspinwall, was summoned. But the leader was dead when the doctor arrived. The banker, apparently in good health, had spent a busy business day and in arranging for the dinner, at which the campaign of the Scout Daddies' association, of which he was director, was to be discussed.
He was survived by his widow, a son, John Wagner Sands, who was at the Guyasuta reservation the day his father died; a daughter, Mrs. A. Singleton Paull, of Wheeling; two brothers, Oliver J. Sands of Richmond, Virginia, and H. S. Sands of Wheeling; two sisters, Mrs. Howard Showalter and Mrs. W. T. Hartman, both of Fairmont, and two grandchildren.
On Monday, October 22, 1928, funeral services were held at the Church of the Ascension, Ellsworth Ave. and Neville St., followed by services at the Mausoleum at Greenwood Cemetery, Wheeling.
Bank Officer Summary
During his banking career, Lawrence E. Sands was involved with the following banks:
- National Bank of West Virginia at Wheeling, WV (Charter 1424): Assistant Cashier 1885...1895
- Exchange Bank of Wheeling, WV (State Charter): Cashier 1896-1898
- National Exchange Bank, Wheeling, WV (Charter 5164): President 1913-1914; Vice President 1906...1912; Cashier 1899-1905
- First National Bank, Fairmont, WV (Charter 961): President 1911
- Second NB/First-Second NB/FNB, Pittsburgh, PA (Charter 252): President 1914-1927
Sources
- Lawrence E. Sands on Findagrave.com.
- Banks & Bankers Historical Database (1782-1935), https://spmc.org/bank-note-history-project
- The Daily Register, Wheeling, WV, Fri., Oct. 26, 1883.
- Pittsburgh Post-Gazette, Pittsburgh, PA, Thu., Apr. 9, 1914.
- The Pittsburgh Press, Pittsburgh, PA, Sat., Oct. 20, 1928.