Alton National Bank, Alton, IL (Charter 1428)
Alton National Bank, Alton, IL (Chartered 1865 - Liquidated 1930)
Town History
Alton is a city on the Mississippi River in Madison County, Illinois, about 18 miles north of St. Louis, Missouri. It is a part of the River Bend area in the Metro-East region of the Greater St. Louis metropolitan area. It is famous for its limestone bluffs along the river north of the city, as the former location of the state penitentiary, and for its role preceding and during the American Civil War. It was the site of the last Abraham Lincoln and Stephen Douglas debate in October 1858. The former state penitentiary in Alton was used during the Civil War to hold up to 12,000 Confederate prisoners of war. Also, the tallest man in history, Robert Wadlow, was born and raised in Alton. The population was 25,676 at the 2020 census. In 1860 the population was 6,332, growing to 14,210 by 1900.
Alton was developed as a river town in January 1818 by Rufus Easton, who named it after his son. Easton ran a passenger ferry service across the Mississippi River to the Missouri shore. Alton is located amid the confluence of three navigable rivers: the Illinois, the Mississippi, and the Missouri. Alton grew into a river trading town with an industrial character. The city rises steeply from the waterfront, where massive concrete grain silos and railroad tracks were constructed in the 19th and 20th centuries to store and ship the area's grains and produce. Brick commercial buildings are spread throughout downtown. Once the site of several brick factories, Alton has an unusually high number of streets still paved in brick. The lower levels of Alton are subject to floods, many of which have inundated the historic downtown area. The dates of different flood levels are marked on the large grain silos, part of the Ardent Mills, near the Argosy Casino at the waterfront. The flood of 1993 is considered the worst of the last century.
On October 15, 1858, Alton was the site of the seventh Lincoln-Douglas debate. A memorial at the site in downtown Alton features oversized statues of Lincoln and Douglas, as they would have appeared during the debate. Congressional representatives came to Alton when they drafted the Thirteenth Amendment of the Constitution, to permanently end slavery throughout the Union. Alton resident and US Senator Lyman Trumbull, chairman of the Senate Judiciary Committee, co-wrote the Thirteenth Amendment. His Alton home, the Lyman Trumbull House, is a National Historic Monument.
Alton had four National Banks chartered during the Bank Note Era, and three of those banks issued National Bank Notes.
Bank History
- Organized June 19, 1865
- Chartered July 11, 1865
- Succeeded Alton Bank
- Assumed deposits of 1445 (First National Bank of Alton, IL), March 30, 1882
- Liquidated May 17, 1930
- Succeeded by 13464 (First NB & TC (No Issue), Alton, IL)
The town of Alton was incorporated in 1833 by an act of the Legislature dated Feb. 6th. Mr. Samuel Wade was a member of the first Board of Trustees. The city of Alton was chartered July 21, 1837. Mr. Wade was a member of the first City Council and was elected many times thereafter. He was elected mayor in 1849 and re-elected in 1850, elected again in 1855 and 1856. The Alton Marine and Fire Insurance Company was incorporated February 7, 1836, with B.I. Gilman, president and E. Marsh, secretary. The insurance business was discontinued about 1848 and in 1852 it was organized under the general banking law of Illinois as the Alton Bank with $100,000 capital, E. Marsh, president and C.A. Caldwell, cashier. On January 1, 1854, the Alton Bank took possession of its new building on the corner of Third and Belle Streets. The day after removal to the new office, word came that the correspondent bank in New York had failed, entailing a loss of nearly $30,000. The relation of the Alton bank to that in New York, which was a stockholder to the extent of the indebtedness, enabled the Alton Bank by obtaining possession of the stock to recuperate without loss and with but small inconvenience.[1] The Alton National Bank was organized in July 1865 by the same parties and succeeded to the business of the Alton Bank with E. Marsh, president; Samuel Wade, vice president and C.A. Caldwell, cashier. In 1876, Mr. Marsh died and was succeeded by Mr. Wade who held that position until his death on January 2, 1885.[2]
In 1848 The Alton Marine and Fire Insurance Company ceased issuing fire risks, continuing to do a limited marine business, but the requirements of the community, small though it was, demanded a place of deposit for the cash of the merchants and facilities for exchange to enable the payment of indebtedness elsewhere and in this way the insurance company entered the business of banking. During this time and for a short period only, a bank was conducted by Wise, Lea & Mitchell at 208 State Street. These parties later identified themselves with the Alton Mutual & Savings Bank which organized as an insurance company in 1858, began a banking business in 1859. This was located at the northwest corner of State and Short Streets. Recollections, and History of the Alton Banks, written by the Dean of the Illinois Bankers, Edward P. Wade, oldest native resident of Alton. Published in the Alton Evening Telegraph, January 20, 1912.
In 1865, the Alton Mutual Insurance & Savings Co. adopted the national system becoming the First National Bank of Alton, Charter 1445. Isaac Scarritt was president and D.D. Ryrie, cashier. The Fist National Bank bought the lot on the northeast corner of Third and State Street and erected a two-story brick building. Mr. Scarritt and Mr. Ryrie died and Mr. W.H. Mitchell and Mr. J.E. Hayner became president and cashier, respectively. In 1882, the First National sold its building and business to the Alton National and for a short time the Alton National was the only bank operating in the city. In October 1882, the Alton Savings Bank was organized with J.E. Hayner, president and G.A. Joesting, cashier.[3]
On Wednesday, January 15, 1885, the directors met and elected C.A. Caldwell, president; E.P. Wade, cashier; and C.A. Caldwell, Jr., assistant cashier.[4]
The report of condition at the close of business, December 28, 1886, showed total resources of $774,733.17. The capital stock paid in was $100,000, surplus and undivided profits $83,506.42, and circulation $44,600. Directors attesting to the correctness of the report were Henry Watson, C.A. Caldwell, and J.E. Hayner.[5]
On December 14, 1892, John E. Hayner, president of the Alton Savings Bank and stockholder in the Illinois Trust and Savings Bank of Chicago, was married in Sheldon, Vermont to Miss Kate Keith, a niece of the poet, John G. Saxe.[7]
In January 1919, the same members of the Board of Directors and same officers were re-elected for the coming year. The officers were Edward P. Wade, president; Samuel Wade, vice president; C.A. Caldwell, cashier; H.H. Hewitt, assistant cashier. The first three officers with James Duncan and F.W. Olin constituted the re-elected board. Officers reported a large amount of Liberty Bond financing during the past year which proved to be one of the most prosperous and active in the long history of the "Old Alton National."[8]
On Tuesday, January 13, 1925, stockholders of the Alton National Bank re-elected the following directors: F.W. Olin, H.B. Sparks, George S. Milnor, James Duncan, G.D. Eaton, Samuel Wade and C.A. Caldwell. The officers re-elected were C.A. Caldwell, president; Samuel Wade, vice president; H.H. Hewitt, cashier; and Lewis Carr, assistant cashier.[9]
On July 9, 1926, it was announced that Mrs. M.M. Luly, wife of R.C. Luly, head of the Luly Stores Co., had contracted for the purchase of the Alton Savings Bank building at the northeast corner of Third and Belle Streets. The contract was signed between the Alton National Bank, owner of the former savings bank building and Mrs. Luly. The building was left vacant by the consolidation of the Alton Savings Bank with the Alton National about a week earlier.[11] Oliver S. Stowell was president and Frank A. Bierbaum, cashier of the Alton Savings Bank. Mr. Stowell became its president in 1903 on the death of J.E. Hayner, would retire.[12]
On January 9th, 1930, the Citizens National Bank of Alton filed with the Auditor of Public Accounts of the State of Illinois as a trust company. Its statement as of December 31, 1929, showed total resources of $6,129,912.36 and $50,000 of securities deposited with the Auditor to secure Trust Deposits. L.A. Schlafly and E.J. Verlie, two of the directors swore to the correctness of the statement made to the Auditor in Springfield.[13] In April, notice was published that due to delays in the alterations in the banking rooms of the Alton National Bank building, the opening of the new First National Bank and Trust Company was postponed from April 14 to Monday, May 19. The Citizens National and Alton National banks would continue business in their current respective locations until May 19, 1930.[14] Thursday, April 10, 1930. On May 14th, C.A. Caldwell who would head the new bank as president said it was decided not to defer the change any longer because of the red tape involved in any delays to observe legal requirements. The bank would be ready to take care of business, but no formal opening with flowers and music was planned, but that may occur later. The new officers of the bank were as follows: C.A. Caldwell, president; George M. Levis, chairman of the board; Samuel Wade, L.A. Schlafly, and H.H. Hewitt, vice president; Emil Joesting, cashier; W.B. Allen and L.M. Carr, assistant cashiers; George M. Levis, R.H. Levis, E.M. Dorsey, H.M. Schweppe, L.A. Schlafly, E.J. Verlies, John M. Olin, F.W. Olin, H.B. Sparks, George S. Milnor, William Duncan, Samuel Wade, and C.A. Caldwell, directors. The Citizens National Bank building would be vacated and sold.[15]
Prior to the merger both banks had erected fine new buildings. The Alton National's home, a modern seven-story bank and office structure was adopted as the home of the successor institution. Enlarged vaults and some remodeling was necessary, but by May 1930, the change was effected and the First National Bank and Trust Company began business with resources of $12 million.[16]
Official Bank Title
1: The Alton National Bank, Alton, IL
Bank Note Types Issued
A total of $775,690 in National Bank Notes was issued by this bank between 1865 and 1930. This consisted of a total of 121,322 notes (121,312 large size and 10 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments Original Series 3x1-2 1 - 3792 Original Series 4x5 1 - 3210 Series 1875 4x5 1 - 4782 1882 Brown Back 4x5 1 - 11017 1882 Brown Back 3x10-20 1 - 1485 1902 Red Seal 3x10-20 1 - 1800 1902 Date Back 3x10-20 1 - 2200 1902 Plain Back 3x10-20 2201 - 4242 1929 Type 1 6x20 1 - 2 E000002A-F000002A Not issued
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1930):
Presidents:
- Ebenezer Marsh, 1865-1876
- Samuel Wade, 1877-1884
- Charles Augustus Caldwell, 1885-1890
- Edward Pierson Wade, 1891-1919
- Charles Albert Caldwell, 1920-1929
Cashiers:
- Charles Augustus Caldwell, 1865-1884
- Edward Pierson Wade, 1885-1890
- Charles Albert Caldwell, 1891-1919
- Henry Harold Hewitt, 1920-1929
Other Known Bank Note Signers
- Samuel S. Wade, VP 1919...1930
Bank Note History Links
Sources
- Alton, 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
- ↑ Alton Evening Telegraph, Alton, IL, Sat., Jan. 20, 1912.
- ↑ Alton Daily Telegraph, Alton, IL, Mon., Jan. 5, 1885.
- ↑ Alton Evening Telegraph, Alton, IL, Sat., Jan. 20, 1912.
- ↑ Alton Daily Telegraph, Alton, IL, Thu., Jan. 15, 1885.
- ↑ Alton Daily Telegraph, Alton, IL, Tue., Jan. 11, 1887.
- ↑ Alton Evening Telegraph, Alton, IL, Mon., Dec. 24, 1917.
- ↑ The Inter Ocean, Chicago, IL, Thu., Dec. 15, 1892.
- ↑ Alton Evening Telegraph, Alton, IL, Tue., Jan. 21, 1919.
- ↑ Alton Evening Telegraph, Alton, IL, Wed., Jan. 14, 1925.
- ↑ Alton Evening Telegraph, Alton, IL, Fri., Feb. 18, 1972.
- ↑ Alton Evening Telegraph, Alton, IL, Fri., July 9, 1926.
- ↑ Alton Evening Telegraph, Alton, IL, Wed., Jan. 15, 1936.
- ↑ Alton Evening Telegraph, Alton, IL, Sat., Jan. 11, 1930.
- ↑ Alton Evening Telegraph, Alton, IL, Thu., Apr. 10, 1930.
- ↑ Alton Evening Telegraph, Alton, IL, Wed., May 14, 1930.
- ↑ Alton Evening Telegraph, Alton, IL, Wed., Jan. 15, 1936.