Lynah family history

(31) Arthur Lynah

born Oct. 2, 1849, married Mary Jane Ancrurn (b. 1851) and died May 11, 1940. Their issue:

I. (54) Arthur Ancrum born April 4, 1872
II. (55) Richard Norris born 1874 d. Mar 4, 1922. Married Roberta C_______
III. (56) John Heyward born 1876. Married Marie Boyd.
IV. (57) Henry Lounds born Dec. 1, 1878, died Mar. 31, 1922. Bachelor.
V. (58) May born February 5, 1886, spinster.

Arthur Lynah, chairman of the board of directors and former president of the Miners and Merchants Bank, died Charleston, S. C. at 90 years of age.

Private funeral services were held with the Rev. Albert Rhett Stuart, Rector of St. Michael's Protestant Episcopal Church, officiating. Burial was in Magnolia Cemetary.

The keynote of his career as a banker was conservatism. In a period when other banks were expanding, Mr. Lynah kept the Miners and Merchants small and liquid. As interest rates began to decline and good investments became scarce, he instituted a policy of refusing to take new savings accounts. In 1932, after the failure of the Peoples State Bank, many holders of savings accounts withdrew their deposits. After the scare was over, when some of them attempted to reopen the accounts, Mr. Lynah refused to take them. In the summer of 1936, he made the statement that he could pay off all stockholders and depositors 100 cents on the dollar and then pay a 40 per cent dividend, if the bank were to be liquidated. Prior to relinquishing the presidency of the bank, July 1, 1937, Mr. Lynah practically handled every transaction of the bank personally.

For about twenty years prior to May, 1935, he was president of the board of trustees of the William Enston home and was a member for several years before that. During the period of his presidency, he kept strict but benevolent supervision over the institution. He spent many hours each week on the grounds, supervising pruning of the trees, mowing of lawns and erection of buildings. No detail of management was too small for his attention.

In 1888 when the first eighteen cottages of the home were completed, it was said that because of the depletion of the fund, following War Between the States, no others ever could he built, the remainder being necessary to provide funds for upkeep. A few years ago, the fund had been so increased through wise investment that five additional cottages could be erected.

Later, through his action and advice, the grounds were extended to Huger Street by purchase of an additional tract of land.

He was possessed of a keen sense of humor and liked to gather with friends to share a joke. In his younger days he did a great amount of walking and it was only in his latter years that he was willing to relinquish his opposition to automobiles.

Extracted from the NEWS AND COURIER, Charleston, S.C., dated May 12, 1940.