James Eugene Rankin (April 27, 1845 – February 12, 1928) was an American politician and banker.[1] He was a leading financier in North Carolina and president of the American National Bank and the Blue Ridge Building and Loan, both in Asheville, North Carolina.[2][3]The Charlotte Observer dubbed him "the dean of North Carolina's bankers".[4]
Rankin was the six-time mayor of Asheville and chairman of the Buncombe County Commissioners for 22 consecutive years, plus two additional two terms. He was a director of the Western North Carolina Railroad and a founder and president of the Asheville Power and Light street car company.
During the Civil War, he sided with the Confederacy. He joined Company G of North Carolina 7th Cavalry, or Woodfin's Battalion, on October 7, 1864, with the rank of First Lieutenant.[1] He rose to the rank of captain.[1] In the Fall of 1864, James E. Rankin was made Adjutant of the 14th North Carolina Battalion - Cavalry.[6] He was captured by Union Troops in Franklin, North Carolina.[3]
Career
Business
After the Civil War, Rankin returned to Asheville and operated his father's mercantile business for twenty years.[1][3] In 1874, he was the vice president of the Asheville branch of the Southern Life Insurance Company.[7] For many years he was a cashier for the National Bank of Asheville, followed by being a cashier for The Western Carolina Bank.[1][3][8] By 1879, he was the vice president of The Bank of Asheville.[9][3]
In December 1880, he opened J. E. Rankin & Co., a general mercantile in Asheville.[10] In 1891, he formed the Battery Park Bank with Frank Coxe and J. P. Sawyer and served as its cashier.[1][3] During the Panic of 1896 and 1897, there was a run on the banks in Asheville in July 1897.[4][11][3] Rankin met the run with cash and his reputation helped restore confidence in the community's banks; the Battery Park was the only bank to survive the crisis.[4][12][11] The bank was purchased by Wachovia Bank and Trust Company in the early 1920s.[1][3]
Rankin was an organizer of the Blue Ridge Building and Loan, serving as its president for thirty years.[1][3][13] He was president and chairman of the American National Bank.[2][3] He was also a founder and president of the Asheville Power and Light, a street car company later known as Carolina Power and Light Company.[1][3][14][15] He was also a director of the Western North Carolina Railroad.[3]
Politics
Rankin was a mayor of Asheville, serving one-year terms in 1873, 1874, and 1879.[16][3] He was appointed chairman of the Buncombe County Commissioners for 22 consecutive years.[17][1][18][3] In 1880, he represented Buncombe County at the Democratic Senatorial Convention.[19] In 1908 and 1910, he was elected chairman of the Buncombe County Commissioners by public vote.[3] In total, he was chair of the Buncombe County Commissioners for 26 years.
He was elected mayor of Asheville for two-year terms in 1911 and 1912, and for a four-year term in 1915, serving in that capacity from 1911 through 1919.[16][3] Under his leadership, the city migrated to a commission form of government in 1915.[1]
In total, Rankin held fifty public offices.[1] He served on the Asheville and Buncombe County Good Roads Association and represented the group at the Southern Appalachian Good Roads Association convention in 1914.[20] He served as an alderman of Asheville, the city's treasurer, and as the commissioner of public safety.[3][21] He also served on the board of the Chamber of Commerce.[21]
Personal life
Rankin married Fannie Cocke on October 11, 1867, in Buncombe County, North Carolina.[2] She was the daughter of William Michael Cocke, a congressman from Tennessee who moved to Asheville after the Civil War.[2] Her grandfather was U.S. Senator William Cocke.[2] They had six children, a daughter, Grace, and five sons, Arthur, Clarence, James, Edward. and William.[2] Their home was at 63 Merrimon Avenue in Asheville.[2]
Rankin was a Democrat and a member of the First Presbyterian Church of Asheville.[3] He was a charter member of the Asheville Club.[22] He served on the board of Mission Hospital and the Good Samaritan Mission, the latter of which he helped form.[21][23] He also served on the Vance Monument Association, to establish a memorial for Governor Zebulon Vance.[24]
On February 11, 1928, newspapers across North Carolina reported that Rankin had been ill for a week and was declining.[25] On February 12, 1928, Rankin died in his home in Asheville at the age of 82 from bronchial pneumonia.[1] His funeral service was held at First Presbyterian Church at 3 p.m. on February 14, 1928.[18][11] He was buried in Riverside Cemetery in Asheville.[26]
Before his burial, Rankin was laid in state at the Buncombe County Courthouse where thousands came to pay their respects.[27][11] Hundreds of flower arrangements were sent from cities across North and South Carolina.[28] In addition, the courthouse bell was rung 82 times in honor of the number of years that Rankin lived.[1] For thirty days, the courthouse's flag was flown at half-staff, and its lobby was draped for mourning.[11]
The Superior Court adjourned for the day and construction was halted on the new county building.[1][11] The Asheville City Hall and all county offices closed for the day.[11] Asheville's banks closed at 1 p.m. in honor of Rankin's service to the banking community.[28] A memorial service was presented in each of Asheville's public schools which were then dismissed so that the students could view his body; hundreds of schoolchildren came through the courthouse.[28][1][11] Dr. John E. Calfee, president of the Asheville Normal School, presented a eulogy in Rankin's honor and dismissed the 3 p.m. classes.[29] Rankin's friend, North Carolina's Governor Angus Wilton McLean, said, "Mr. Rankin was an outstanding citizen and a well-known banker. I am very sorry to learn of his death. I had heard of his illness and had hoped he would recover."[30]
Honors
One of Asheville's schools was named in his honor while he was still alive.[11] Rankin Street in Asheville was also named in his honor.
The Buncombe County Commissioners passed a resolution in his honor and ordered that a blank page be placed in the minutes in his memory.[28][11] The Asheville City Council passed a resolution in his memory.[11] The Asheville Clearing House Association passed a resolution honoring Rankin.[28]
^"Rankin Grows Worse". The News and Observer. Raleigh, North Carolina. 1928-02-11. p. 8. Retrieved 2023-11-17 – via Newspapers.com.
^Riverside Cemetery Walking Tour(PDF). Asheville: City of Asheville Parks, Recreation, and Cultural Resources Department. p. 5 – via Romantic Asheville.
