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