He returned to Gastonia, which ten years after its founding had no financial institution through which to accumulate money and make loans for the growth of the town. In 1887, twenty-two-year-old Labe Jenkins seized on this opportunity and, along with his brother-in-law, John Henry Craig, founded the private banking house of Craig & Jenkins with a capital of $10,000. Three years later, in 1890, the First National Bank of Gastonia with a capital of $50,000, of which Jenkins was the chief organizer, succeeded the private firm. With the development of industry, the bank grew and prospered, and Jenkins became the chief financial advisor in Gaston County.
Labe Jenkins used his means and influence, and that of his bank, to promote industry in North Carolina, principally the burgeoning cotton manufacturing industry in Gastonia in conjunction with textile pioneers George Washington Ragan, George Alexander Gray and Laban Forest Groves. At one time or another, he was president of The Arlington Cotton Mills, Flint Manufacturing Company and Gray Manufacturing Company and vice president of Trenton Cotton Mills, Groves Mills, Inc., Parkdale Mills, Inc. and Arrow Mills, Inc.
For many year, L. L. Jenkins was a leader in Gastonia’s First Baptist Church, where he served as a deacon and Sunday school superintendent. In 1910, he and his family moved to Asheville, North Carolina, where he became president of American National Bank. In addition, he continued as head of First National Bank of Gastonia and was president of the Bank of Dallas, Bessemer City Bank and Bank of Belmont, all in Gaston County.
This talented man supported a breath of interest in finance, industry, commerce and public affairs. Like his father before him, he was a staunch Republican, one who was considered a “friendly Republican” to the South and its interests in a time when it was solidly Democratic. President McKinley appointed him postmaster in Gastonia from 1889 to 1893. The Republicans in Gaston County nominated him in 1892 as their candidate for the Legislature and again in 1898. In 1916, he was a candidate for lieutenant governor of North Carolina. From 1928 to 1930, he served as treasurer of Buncombe County. So strong was his interest in politics that around 1917 he built a mansion on Connecticut Avenue, near DuPont Circle, in order to be in the center of political power and patronage.
In 1887, Labe Jenkins and Miss Kate L. Johnson of Wilmington, NC were married. They were socially prominent and active in the community life of Gastonia and Asheville for many years. After a marriage of 39 years, they divorced in 1926. He later married his secretary, Miss Margaret Kelly.
Under the strains of the Great Depression, the career of L. L. Jenkins ended in disappointment. That unprecedented economic catastrophe brought down his Asheville bank in 1930, caused the bankruptcy of Asheville and Buncombe County, the closure of the Gastonia bank and resulted in heavy financial burdens on his textile interests. Under these strains, he died suddenly of a cerebral hemorrhage in Asheville on March 28, 1933. His body was brought to Gastonia, where his funeral was conducted at First Baptist Church and his burial was in the Jenkins-Craig family cemetery, one mile east of downtown Gastonia, near the old David Jenkins home place of his youth.
Contributed by Robert Ragan, Gaston County historian
He returned to Gastonia, which ten years after its founding had no financial institution through which to accumulate money and make loans for the growth of the town. In 1887, twenty-two-year-old Labe Jenkins seized on this opportunity and, along with his brother-in-law, John Henry Craig, founded the private banking house of Craig & Jenkins with a capital of $10,000. Three years later, in 1890, the First National Bank of Gastonia with a capital of $50,000, of which Jenkins was the chief organizer, succeeded the private firm. With the development of industry, the bank grew and prospered, and Jenkins became the chief financial advisor in Gaston County.
Labe Jenkins used his means and influence, and that of his bank, to promote industry in North Carolina, principally the burgeoning cotton manufacturing industry in Gastonia in conjunction with textile pioneers George Washington Ragan, George Alexander Gray and Laban Forest Groves. At one time or another, he was president of The Arlington Cotton Mills, Flint Manufacturing Company and Gray Manufacturing Company and vice president of Trenton Cotton Mills, Groves Mills, Inc., Parkdale Mills, Inc. and Arrow Mills, Inc.
For many year, L. L. Jenkins was a leader in Gastonia’s First Baptist Church, where he served as a deacon and Sunday school superintendent. In 1910, he and his family moved to Asheville, North Carolina, where he became president of American National Bank. In addition, he continued as head of First National Bank of Gastonia and was president of the Bank of Dallas, Bessemer City Bank and Bank of Belmont, all in Gaston County.
This talented man supported a breath of interest in finance, industry, commerce and public affairs. Like his father before him, he was a staunch Republican, one who was considered a “friendly Republican” to the South and its interests in a time when it was solidly Democratic. President McKinley appointed him postmaster in Gastonia from 1889 to 1893. The Republicans in Gaston County nominated him in 1892 as their candidate for the Legislature and again in 1898. In 1916, he was a candidate for lieutenant governor of North Carolina. From 1928 to 1930, he served as treasurer of Buncombe County. So strong was his interest in politics that around 1917 he built a mansion on Connecticut Avenue, near DuPont Circle, in order to be in the center of political power and patronage.
In 1887, Labe Jenkins and Miss Kate L. Johnson of Wilmington, NC were married. They were socially prominent and active in the community life of Gastonia and Asheville for many years. After a marriage of 39 years, they divorced in 1926. He later married his secretary, Miss Margaret Kelly.
Under the strains of the Great Depression, the career of L. L. Jenkins ended in disappointment. That unprecedented economic catastrophe brought down his Asheville bank in 1930, caused the bankruptcy of Asheville and Buncombe County, the closure of the Gastonia bank and resulted in heavy financial burdens on his textile interests. Under these strains, he died suddenly of a cerebral hemorrhage in Asheville on March 28, 1933. His body was brought to Gastonia, where his funeral was conducted at First Baptist Church and his burial was in the Jenkins-Craig family cemetery, one mile east of downtown Gastonia, near the old David Jenkins home place of his youth.
Contributed by Robert Ragan, Gaston County historian
Family Members
Sponsored by Ancestry
Advertisement
Advertisement