Alexandria National Bank, Alexandria, IN (Charter 4835)

Photo of the Alexandria National Bank, ca1890s.

Photo of the Alexandria National Bank (at right), ca1890s. Courtesy of the Alexandria Library

Alexandria National Bank, Alexandria, IN (Chartered 1893 - Liquidated 1898)

Town History

Building on the corner of Harrison and Washington Streets, ca1960s. This was the location of the Alexandria National Bank and the Alexandria Bank. Building was demolished in 1970. Courtesy of the Alexandria Library

Alexandria is a city in Monroe Township, Madison County, Indiana. It is about 46 miles northeast of Indianapolis. Alexandria was platted in 1836, when it was certain that the Indiana Central Canal would be extended to that point. It was incorporated as a town in 1898. According to the 2010 census, its population was 5,145, a decrease of 17.8% from 6,260 in 2000. In 1890 the population was 715, spiking to 7,221 in 1900 as a result of the natural gas boom that hit Ohio and Indiana in the late 1890s.

Alexandria had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.

Bank History

Organized December 5, 1892
Chartered January 6, 1893
Succeeded U.C. Vermillion & Co. (Alexandria Bank)
Liquidated January 22, 1898
Succeeded by Alexandria Bank

The Alexandria Banking Company was organized in 1888.

In November 1892, C.F. Heritage of Alexandria and his associates applied to the Comptroller of the Currency for permission to organize the Alexandria National Bank with capital of 450,000. It was understood the Bank of Alexandria was leading in the organization.

On August 31, 1893, The Muncie Morning News reported that incendiaries were trying to burn the city of Alexandria. Four fires were started within a few hours in the business portion of the city. The bank building, located on the southwest corner of Washington and Harrison Streets was leveled due to a fire. The bank would rebuild and locate on the corner of Harrison and Washington Streets near the original site and next to a drug store. By 1898, the Alexandria Library was located there for a short time and the block was known as the Hannah & Phillips Block. It would be demolished in the early 1970’s.

In October 1897, stockholders decided on an important change of policy in its business. Effective on November 1, it planned to conduct business as a private banking house, retire the bank's currency and reduce the stock from $50,000 to $30,000. However, in December 1897, the stockholders voted against the proposed change to a private banking institution and the plan was again indefinitely deferred.

In January 1898, stockholders at the annual election of directors voted to go into voluntary liquidation on January 22nd. The organization would be immediately succeeded by the Alexandria Bank under the same management.

On February 6, 1908, Perry Heritage and John H. Heritage sold their interests in the Alexandria Bank as follows: Perry Heritage sold his interest to Uriah C. Vermillion and John H. Heritage sold his interest to Samuel G. Phillips and Isaac S. Kelly. The members of The Alexandria Bank were Uriah C. Vermillion, Samuel G. Phillips, Robert H. Hannah, Frederic C. Headington, Robert Hughes, Isaac S. Kelley and Elizabeth Young, who assumed all the obligations of the old firm of Samuel G. Phillips, Robert Hughes, Isaac S. Kelly, Uriah C. Vermillion, Elizabeth Young, Frederick C. Headington, Robert H. Hannah, Perry Heritage, John H. Heritage.

On Tuesday, January 12, 1915, at the annual meeting of the stockholders of the Alexandria Bank, the officers re-elected were:  S.G. Phillips, president; R.H. Hannah, vice president; I.S. Kelly, cashier; Jesse L. Vermillion, S.G. Phillips and I.S. Kelly, directors.

On Friday night, September 6, 1918, Robert H. Hannah, pioneer citizen, ex-banker and philanthropist, died at the home of his daughter, Mrs. S.G. Phillips, after an illness of several months. Deceased was survived by two daughters, and one son. Mr. Hannah was born in Wayne County, Indiana in 1830, near the town of Milton. In May 1849, he made his way to Alexandria, staying about a year, returning to Wayne County, but came back to Alexandria again in 1852. On his first visit, Alexandria had about 25 houses and 125-150 inhabitants. He became a businessman, engaging in harness and saddlery making with James Dwiggins, also from Wayne County as a partner. The first saddles ever made in Alexandria were the product of Mr. Hanna’s workmanship. Later, he became interested in politics and was elected county clerk in 1874, serving until 1878. He was married in 1860 to Miss Caroline Scott whose father kept a hotel on the corner of Berry and Harrison Streets. His confidence in his home town was shown by his extensive investments in real estate and his many building enterprises. He was a charter member and organizer of the first company to drill for gas in Madison County. Mr. Hannah was a founder of the Alexandria National Bank, and at the time of his death was vice president of the Alexandria Bank. In addition he was the first Master of Alexandria Lodge F. & A.M., No. 235, joining the local lodge on May 15, 1858. He was a member of Alexandria Chapter No. 99, Royal Arch Masons, Alexandria Council No. 85, Royal and Select Masters, Alexandria Chapter No. 179, Order of the Eastern Star, Anderson Commandery Knights Templar No. 32. He was a 32nd degree Mason, being a member of Ancient Accepted Scottish Rite of Indianapolis.

On October 31, 1931, the Alexandria Bank, oldest of the city's financial institutions, was voluntarily closed. The institution had resources of $554,335.97 and deposits of $503,866.50 as reported September 29, 1931. For more than 30 years, S.G. Phillips, one of the bank's founders, had been president and I.S. Kelly, cashier for more than 20 years. James S. Walet was vice president. The closing was due to heavy and unexpected withdrawals of funds. Quick upon the heels of the closing of the Citizens Bank at Anderson, alarmist rumors spread to Alexandria that the banks here were also preparing to close. Throughout the day the run continued and late in the afternoon with cash on hand practically exhausted, the officers and directors decided to close the doors and place the business in the hands of the state banking department. Luther Symons, state banking commissioner who had been called to Anderson took charge of the situation.

A charter for re-organization was granted on December 2, 1931. The directors elected Carl Robinson, president; G.J. Armstrong, vice president; I.S. Kelly, cashier; Braxton Baker, assistant cashier. E.H. Bailey was chairman of the directors.

On February 13, 1946, Samuel G. Phillips, prominent Alexandria banker since 1890, died following a 10-day illness. Mr. Phillips was born in Randolph County near Winchester on Spetember 9, 1857. His father, Ancil Phillips, operated a grocery in Muncie. In 1889, he married Miss Etta Hannah, daughter of Robert H. Hannah, a long-time director and vice president of the Alexandria Bank.

Official Bank Title

1: The Alexandria National Bank, Alexandria, IN

Bank Note Types Issued

1882 Brown Back $10 bank note with pen signatures of John H. Heritage, Cashier and R.H. Hannah, Vice President. This note is from the last sheet issued to the bank. Courtesy of Heritage Auctions, www.ha.com

A total of $48,100 in National Bank Notes was issued by this bank between 1893 and 1898. This consisted of a total of 3,848 notes (3,848 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	3x10-20	1 - 962

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1893 - 1898):

Presidents:

Samuel E. Young, 1893-1897

Cashiers:

Other Bank Note Signers

Robert H. Hannah, Vice President 1895...1898
There are currently no known Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

Alexandria, IN, 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
Sanborn Fire Insurance Company Sanborn- ALEXANDRIA - 1896 - sheet 3. Indiana University - DataCORE.
The Indianapolis Journal, Indianapolis, IN, Sat. Nov. 19, 1892.
The Muncie Morning News, Muncie, IN, Thu., Aug. 31, 1893.
The Indianapolis News, Indianapolis, IN, Thu., Oct. 7, 1897.
The Tribune, Seymour, IN, Fri., Dec. 3, 1897.
Muncie Evening Press, Fri., Muncie, IN, Jan. 14, 1898.
The Alexandria Times-Tribune, Alexandria, IN, Sat., Feb. 8, 1908.
The Alexandria Times-Tribune, Alexandria, IN, Wed., Jan. 13, 1915.
The Alexandria Times-Tribune, Alexandria, IN, Sat., Sep. 7, 1918.
The Star Press, Muncie, IN, Thu., Dec. 3, 1931.
The Alexandria Times-Tribune, Alexandria, IN, Tue., Nov. 3, 1931.
The Star Press, Muncie, IN, Thu., Dec. 3, 1931.
The Alexandria Times-Tribune, Alexandria, IN, Wed., Oct. 14, 1970.