Alexander County National Bank, Cairo, IL (Charter 3735)
Alexander County NB, Cairo, IL (Chartered 1887 - Liquidated 1926)
Town History
Cairo (/ˈkɛəroʊ/ KAIR-oh, sometimes /ˈkeɪroʊ/ KAY-roh) is the southernmost city in Illinois and the county seat of Alexander County. A river city, Cairo has the lowest elevation of any location in Illinois and is the only Illinois city to be surrounded by levees. It is in the river-crossed area of Southern Illinois known as "Little Egypt", for which the city is named, after Egypt's capital on the Nile. In 1860, Cairo's population was 2,188, peaking in 1910 at 14,548. The population as of the 2020 census was 1,733.
The city is located at the confluence of the Ohio and Mississippi rivers, two of the largest rivers in North America, and is near the Cache River complex, a Wetland of International Importance. Settlement began in earnest in the 1830s and busy river boat traffic expanded through the 1850s. Fort Defiance, a Civil War base, was located here in 1862 by Union General Ulysses S. Grant to control strategic access to the rivers, and launch and supply his successful campaigns south. The town also served as a naval base for the Mississippi River Squadron to pursue the Anaconda Plan to win the war. Developed as a river port, Cairo was later bypassed by transportation changes away from the large expanse of low-lying land, wetland, and water, which surrounds Cairo. The strategic importance of Cairo's geographic location during the Civil War sparked prosperity in the town. Several banks were founded during the war years, and the growth in banking and steamboat traffic continued after the war.
Cairo had five National Banks chartered during the Bank Note Era, the First National Bank (Charter 33), the City National Bank (Charter 785), the Alexander County National Bank (Charter 3735), the Cairo national Bank (Charter 6815) and the Security National Bank (Charter 13804), and all five of those banks issued National Bank Notes.
Bank History
- Organized June 13, 1887
- Chartered June 25, 1887
- Liquidated April 30, 1926
- Absorbed by Alexander County Savings Bank of Cairo
In July 1874, articles of incorporation of the Alexander County Bank of Cairo were filed in the Recorders Office of Alexander County by J.N. Reece, L.E. Johnson, and J.W. Johnson, all of Springfield, Illinois. The capital stock was $100,000, duration of the corporation, 25 years. The articles were filed under the state law of 1857. The law under which this organization was made was repealed last winter and the new law was effective on the 1st of July, and it was presumed the incorporators were endeavoring to obtain a charter before the old law went out of effect.[3]
On Monday, March 1, 1875, the Alexander County Bank began operations at the corner of Eighth Street and Commercial Avenue with Mr. P.C. Canedy as president.[4] Directors of the Alexander County Bank were Peter Neff, Charles Nellis, Hon. C. Winston, John McNulty, Chas. Lancaster, Jacob Burger, E. Eichoff, J.C. Huels, Col. G.W. McKeaig, W.H. Wilcox, E. Buder, J.C. White, T.J. Kerth, M. Parker, T. Lewis, J.Y. Clemson, Henry Wells, C.M. Smith, T.S. Wood, P.C. Canedy, D.L. Phillips, Dr. W. Jayne, Jesse K. DuBois, L.B. Adams, and E.L. Merritt. The officers were P.C. Canedy, president; Henry Wells, vice president; Thomas Lewis, cashier; and T.J. Kerth, assistant cashier.[5] Mr. Wells was formerly with the National Bank of Rising Sun, Indiana (Charter 1959).[6]
On December 28, 1893, Peter Neff, one of the oldest residents and wealthiest citizens of Cairo, died of asthma and paralysis. He had resided in Cairo continuously since 1854, and was a member of the first City Council in 1857. Later he filled various positions of trust and responsibility. At the time of his death he was Vice President of the Alexander County National Bank. He was the owner of the Planters' House and much other valuable real estate.[7]
In January 1915, officers and directors of the Alexander County National Bank, Capital $100,000 and surplus $100,000, and the Alexander County Savings Bank, capital $50,000 and surplus $50,000. were E.A. Buder, C.V. Neff, Wm. Kluge, N.B. Thistlewood, D.S. Lansden, J.H. Galligan, Thos. Boyd, George Parsons, Charles Feuchter, and C.O. Patier, directors; and the officers were E.A. Buder, president; Chas. Feuchter and C.O. Patier, vice president; J.M. Galligan, cashier; and Frank Spencer, assistant cashier.[8]
In March 1925, James H. Galligan, director and cashier of the Alexander County National Bank; John Carl Engler, former teller in the same bank; and Samuel Halliday of Cairo were indicted by the Federal Grand Jury in Danville for misappropriating money belonging to the bank. All three appeared in court and furnished $5,000 bonds each for their release pending trial.[9] On September 15, 1925, Judge W.C. Lindley directed a verdict of not guilty in the U.S. District Court in the trial of J.H. Galligan, former cashier of the Alexander County national Bank, indicted on twelve counts for violation of the national banking laws. Galligan was charged with having withdrawn funds from the accounts in the bank of the East Cape Girardeau-Clear lake and Cairo Drainage Districts and deposited them in his own account to cover over drafts. He was treasurer of both districts. "There seems to be no question but what the defendant misapplied funds belonging to the drainage districts," according to Judge Lindley. "It appears that he placed this money in his personal account. But he is charged with misappropriating the bank's funds and he did not. The bank could not lose a cent by Galligan's actions and there could have been no violation of the federal banking laws. The Case belongs in the state courts."[10]
On Thursday, April 15, 1926, James H. Galligan of Cairo died at his home in Cairo. Mr. Galligan, prominent citizen of Cairo and well-known in Murphysboro and southern Illinois, died following an illness of less than a week of erysipelas. The deceased was 59 years old, being born in Cairo November 11, 1866. He resided in Cairo his entire life. Besides his wife he was survived by two daughters and one son, his mother, one brother and two sisters. For thirty-seven years he was connected with the. Alexander County National Bank of Cairo. A few years ago he retired from the banking business and entered the insurance business. He was secretary of the Cairo Building and Loan Association.[11]
On May 1, 1926, the Alexander County National Bank and the Alexander County Savings Bank consolidated and would continue business as the Alexander County Bank.[12]
In March 1930, merger of the Alexander County Bank and the Cairo National Bank was approved by officers of the two institutions, subject to ratification by stockholders.[13] On Monday, October 13, 1930, throngs of people attended the opening of the new Cairo-Alexander County Bain in Cairo, the largest banking institution in that city. The new home was located on the northeast corner of eighth Street and Commercial Avenue which was formerly occupied by the Alexander County Bank. The interior of the building had been entirely remodeled with modern equipment of the lates design. That evening 150 bankers and their wives were served a banquet at the Professional Women's Club. following the banquet, the president of the bank, Mr. Lansden, introduced all the visitors and the staff of the bank. Theatre tickets were then given each of the guests for the show at the Gem Theatre.[14]
On August 2, 1933, the Cairo-Alexander County Bank at Cairo was closed. According to conservator Walter S. Corbly, the state bank examiner, Hal Clarida, took charge that morning to go over the entire bank. It would take him two weeks to do the work.[15]
On June 6, 1941, state auditor Arthur C. Lueder, authorized a payment of a 6% dividend, or $75,018.84, to approximately 2,500 depositors of the Cairo-Alexander County Bank. This was the third dividend since the bank closed and brought the total to 40%. In addition, $91,110.36 had been paid to preferred creditors and $219,385.78 on bills payable.[16]
Official Bank Title
1: The Alexander County National Bank of Cairo, IL
Bank Note Types Issued
A total of $517,150 in National Bank Notes was issued by this bank between 1887 and 1926. This consisted of a total of 35,252 notes (35,252 large size and No small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1882 Brown Back 4x5 1 - 800 1882 Brown Back 50-100 1 - 804 1902 Red Seal 3x10-20 1 - 300 1902 Date Back 3x10-20 1 - 3500 1902 Plain Back 3x10-20 3501 - 7311
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1887 - 1926):
Presidents:
Cashiers:
- Henry Wells, 1887-1890 NOTE: a featured biography is available
- F. J. Kerth, 1891-1895
- James H. Galligan, 1896-1923
- Frederic Perrin Fox, 1924-1925
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Cairo, IL, on Wikipedia
- Don C. Kelly, National Bank Notes, A Guide with Prices. 6th Edition (Oxford, OH: The Paper Money Institute, 2008).
- Dean Oakes and John Hickman, Standard Catalog of National Bank Notes. 2nd Edition (Iola, WI: Krause Publications, 1990).
- Banks & Bankers Historical Database (1782-1935), https://spmc.org/bank-note-history-project
- ↑ The Courier, Charleston, MO, Thu., Mar. 11, 1915. , March 11, 1915.
- ↑ The Cairo Bulletin, Cairo, IL, Sat., Mar. 6, 1875.
- ↑ Chicago Weekly Post and Mail, Chicago, IL, Thu., July 2, 1874.
- ↑ The Cairo Bulletin, Cairo, IL, Sun., Feb. 28, 1875.
- ↑ The Cairo Bulletin, Cairo, IL, Sat., Mar. 6, 1875.
- ↑ The Cairo Bulletin, Cairo, IL, Fri., Mar. 5, 1875.
- ↑ St. Louis Globe-Democrat, St. Louis, MO, Fri., Dec. 29, 1893.
- ↑ The Cairo Bulletin, Cairo, IL, Sat., Jan. 23, 1915.
- ↑ Alton Evening Telegraph, Alton, IL, Thu., Mar. 5, 1925.
- ↑ Daily Review Atlas, Monmouth, IL, Wed., Sep. 16, 1925.
- ↑ The Daily Independent, Murphysboro, IL, Sat., Apr. 17, 1926.
- ↑ St. Louis Post-Dispatch, St. Louis, MO, Sun., May 2, 1926.
- ↑ Chicago Tribune, Chicago, IL, Sun., Mar. 2, 1930.
- ↑ The Weekly Record, New Madrid, MO, Fri., Oct 17, 1930.
- ↑ Enterprise-Courier, Charleston, MO, Thu., Aug. 3, 1933.
- ↑ Herald and Review, Decatur, IL, Sat., June 7, 1941.