Henry Bushong

Henry Bushong, Banker and Manufacturer, was born in Lancaster county, Pennsylvania, March 25th, 1826. He is the second son of Philip Bushong, of Lebanon county. He was educated at the Litiz Academy, where he remained till the age of twelve years, when he began to work. He entered his father's distillery, in 1846, obtaining an interest in the business, in which he remained till 1863, when he abandoned it on account of the law controlling the manufacture of liquors, which made it impossible for an honest man to carry it on, with profit to himself. He then embarked in the banking business, establishing, in partnership with his brother Jacob, the house of Bushong Bros., of Reading, so widely known throughout the State and elsewhere. This bank was commenced on a small scale, and more as a matter of pastime than profit; but, the manner adopted by the firm of transacting their business, was such as to rapidly increase it so that when the panic of 1873 overspread the country, they had in their possession $2,100,000, or more than all the other banks in the city combined, while the increase in their deposits was $300,000. Their system has liberalized the banking business in that section of the State, and changed the old aristocratic plan to a new and popular method, much to the benefit and satisfaction of the community. It has given a strong impetus to the rapid and substantial development of the wealth, and to the steady growth, of the city and its surroundings. As the authors of these desirable results, the brothers are deservedly popular, their large establishment being in the most flourishing condition, with every prospect of remaining so. In 1868, he engaged heavily in the manufacture of pig-iron--as a member of the firm of Bushong & Co.--and, in 1871, became extensively interested in a paper mill, investing a large amount of capital in that enterprise. His business liberality and heavy investments in commercial and industrial establishments, have rendered him one of the most prominent among the representative men of the State. He was married, in 1844, to Miss Heiffer, of Reading, by whom he has one daughter. He is one of the originators and promoters, and is the President, of the Berks County Railroad.

Source: The Biographical Encyclopedia of Pennsylvania of the Nineteenth Century. Philadelphia: Galaxy Publishing Co., 1874, pp. 43-44.

Contributed by: Nancy.