American National Bank, Richmond, VA (Charter 5229)
American National Bank, Richmond, VA (Chartered 1899 - Liquidated 1928)
Town History
Richmond is the capital city of the Commonwealth of Virginia. It was incorporated in 1742 and has been an independent city since 1871. As of the 2010 census, the city's population was 204,214; in 2020, the population grew to 226,610, making Richmond the fourth-most populous city in Virginia. The Richmond Metropolitan Area has a population of 1,260,029, the third-most populous metro in the state.
Richmond is at the fall line of the James River, 44 miles west of Williamsburg, 66 miles east of Charlottesville, 91 miles east of Lynchburg and 92 miles south of Washington, D.C. Surrounded by Henrico and Chesterfield counties, the city is at the intersections of Interstate 95 and Interstate 64 and encircled by Interstate 295, Virginia State Route 150 and Virginia State Route 288. Major suburbs include Midlothian to the southwest, Chesterfield to the south, Varina to the southeast, Sandston to the east, Glen Allen to the north and west, Short Pump to the west and Mechanicsville to the northeast.
The site of Richmond had been an important village of the Powhatan Confederacy, and was briefly settled by English colonists from Jamestown from 1609 to 1611. The present city of Richmond was founded in 1737. It became the capital of the Colony and Dominion of Virginia in 1780, replacing Williamsburg. During the Revolutionary War period, several notable events occurred in the city, including Patrick Henry's "Give me liberty or give me death" speech in 1775 at St. John's Church, and the passage of the Virginia Statute for Religious Freedom written by Thomas Jefferson. During the American Civil War, Richmond was the capital of the Confederacy.
The Main Street Banking Historic District is a national historic district located in downtown Richmond, Virginia.
Richmond had 11 National Banks chartered during the Bank Note Era, and all 11 of those banks issued National Bank Notes. Richmond also had one Obsolete Bank that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).
Bank History
- Organized September 20, 1899
- Chartered October 31, 1899
- Purchased Security Bank of June 1902
- Liquidated December 29, 1928
- Succeeded by American Bank and Trust Company of Richmond
On Wednesday, November 1, 1899, The American National Bank of Richmond opened for business with capital of $200,000 at 1009 East Main Street. The Directors were Wm. C. Camp, box manufacturer; J.W. Lockwood, 30 yrs. cashier, National Bank of Virginia; W.R. McComb, president, Union Stock Yards; Wm. J. Payne, president, N.N. & O. Pt. and R.&E. Co.; Oliver J. Sands, late national bank examiner, Virginia & District of Columbia; W.B. Saunders, Saunders & Chambers, wholesale grocers; Leon L. Strause, president, Montgomery Tobacco Co.; Philip Whitlock, Manager, Whitlock Branch A.T. Co.; Chas. E. Wingo, president, Wingo, Ellett & Crump Shoe Co., wholesale shoes. The officers were Oliver J. Sands, president; J.W. Lockwood, vice president; and J.W. Lockwood, Jr., cashier.
In May 1900, Mr. J. Wells Lockwood, Jr., and Mr. Newton Lockwood resigned their positions as cashier and teller, respectively, of the American National Bank. The resignations were accepted and the board elected Mr. O.B. Hill who had been the long-serving note-clerk at the Planters' Bank to succeed Mr. Lockwood as cashier, and Mr. Walter Holladay, a bookkeeper at the State Bank, to a similar position with the American National, temporarily discharging the duties of teller. The resignations of Messrs. Lockwood created surprise and regret. Their father, Mr. J.W. Lockwood, the dean of the banking profession in Richmond, continued as vice president of the bank. The bank, in operation only six months, had amounted assets of over $1,000,000.
On April 30, 1902, a joint announcement was published stating the American National Bank had purchased assets, business, and good will of The Security Bank of Richmond. The consolidation was effective May 1, 1902. The capital of the bank was increased $50,000 and the surplus and profits to $50,000. Oliver J. Sands was president; Chas. E. Wingo, vice president; O.B. Hill, cashier; and Waller Holladay, assistant cashier. The directors of the American National were William C. Camp, William J. Payne, Leon L. Strause, Emmet Seaton, Oliver J. Sands, Philip Whitlock, W.R. McComb and Chas. E. Wingo. The officers of The Security Bank were E.A. Catlin, president and George W. Warren, cashier.
On Tuesday evening, March 15, 1903, Mr. Joshua Wells Lockwood Sr., one of the best known bankers and businessmen of Virginia died at his home in Orange County. A native of Alexandria, he began with the Bank of the Old Dominion of Alexandria, one of the few banks able to pay depositors, redeem its circulation, and pay a dividend to stockholders at the end of the Civil War. Mr. Lockwood, a discount clerk who, on the advance of Federal troops to Alexandria, shipped the bank's gold to Lynchburg and afterward to Richmond in Mr. Lockwood's care. The demand for gold by the government was so great that nearly all the banks surrendered their funds and took Confederate securities and were swept to ruin when the end came. Its faithful discount clerk secured the gold and at the evacuation of Richmond, fled with it South. Two months later he returned it intact to the board of directors at Alexandria along with $2,000 in silver which he buried in a sarcophagus in Charlottesville and dug it up after his return. He came to Richmond and was connected with the old Bank of the Commonwealth until 1866 when he accepted a position with the National Bank of Virginia. He was one of the organizers of the American Bankers' Association and in 1899, he became vice president of the new American National Bank. About a year later he left and went to Orange.
On July 25, 1905, J. Wells Lockwood, Jr., late president of the American National Bank of Orange, Virginia, was arrested and charged with embezzlement. The warrant was sworn out by David May, one of the directors of the wrecked bank. Lockwood was charged with stealing $5,000 while president of the bank. There was a warrant out for the arrest of Newton Lockwood, cashier of the defunct bank, but his whereabouts were unknown. Both Lockwoods were for many years connected with the National Bank of Virginia at Richmond and later organized the American National Bank of Richmond which went into other hands. They then organized the American National Bank of Orange which failed, paying only 15 cents on the dollar. In December 1905, J.W. Lockwood, Jr., president of the defunct American Bank of Orange, after a trial of three days in the Circuit Court at Orange, charged with embezzling $12,000, was released, the Commonwealth having nolle prossed the case. Lockwood testified that the American Bank sent certain notes to the Gordonsville bank of Lockwood & Co., which were never accounted for by the latter concern and claimed that if the Gordonsville concern had remitted for the notes, the shortage would not appear. There being no evidence to the contrary, the case was dismissed.
In 1903, the bank erected the most modern bank and office building at Tenth and Main Streets. This was the first steel office structure erected in the city. Many were doubtful of the success of an office building which had to rent at a rate of one dollare per square foot. This building was fully occupied almost since its opening. In October 1909, the bank purchased the adjoining lot and commenced the erection of the new addition, completed in 1911. The two arched openings, 8 feet wide by 20 1/2 feet high, were surrounded by a rich renaissance finish of Indiana limestone, richly ornamented with columns, cornices, medallions and carving. The stonework was carried into the vestibule and an elaborate iron grille was place in the opening, giving an opportunity for using the name of the building and the American eagle as ornamental features. The brick and limestone used for the exterior was of the same color, a light, buff. To the right and left were three fast electric elevators and staircase leading to the upper stories. The banking room was simply, yet uniquely arranged, the offices for the president, cashier, bureau of information, savings department, tellers, lady customers' room and private room for ladies grouped around a central lobby. The the rear of the bank an in the mezzanine was the directors' room, accessed by an ornamental metal staircase.
In 1929, the American National Bank of Richmond, affiliated with the American Trust Company, was located at Main Street at Tenth, with the Central Office at Grace Street at Fourth, West Side Office at Floyd Avenue at Robinson, North Side Office at Brookland Boulevard and East Side Office at Marshall Street at 25th.
On December 31, 1928, The American National Bank of Richmond and the American Trust Company were consolidated under the name of American Bank and Trust Company of Richmond. The resulting institution had capital and surplus of $5,200,000 and total resources of about $25 million. Oliver J. Sands would continue as president and all major officers would retain their respective positions.
Official Bank Title(s)
1: The American National Bank of Richmond, VA
Bank Note Types Issued
A total of $12,604,080 in National Bank Notes was issued by this bank between 1899 and 1928. This consisted of a total of 1,561,236 notes (1,561,236 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 - 27215 1882 Brown Back 3x10-20 1 - 20114 1882 Date Back 4x5 1 - 74830 1882 Date Back 3x10-20 1 - 58468 1882 Value Back 4x5 74831 - 112830 1882 Value Back 3x10-20 58469 - 80468 1902 Plain Back 4x5 1 - 90334 1902 Plain Back 3x10-20 1 - 59348
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1899 - 1928):
Presidents:
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Virginia Bank Note History
- General information on Richmond (Wikipedia)
- General information on Richmond County (Wikipedia)
- General information on Virginia (Wikipedia)
Sources
- Richmond, VA, 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 Bankers' Magazine, Vol. 82, Jan. 1911-June 1911, pp 419-427, 817.
- Richmond Times-Dispatch, Richmond, VA, Sun., Oct. 29, 1899.
- Richmond Times-Dispatch, Richmond, VA, Sun., Mar. 4, 1900.
- Richmond Dispatch, Richmond, VA, Wed., May 30, 1900.
- Richmond Dispatch, Richmond, VA, Thu., May 8, 1902.
- Richmond Times-Dispatch, Richmond, VA, Thu., Mar. 17, 1904.
- Richmond Times-Dispatch, Richmond, VA, Wed., July 26, 1905.
- The Free Lance-Star, Fredericksburg, VA, Sat., Dec. 2, 1905.
- The Richmond News Leader, Richmond, VA, Thu., July 5, 1928.
- Richmond Times-Dispatch, Richmond, VA, Tue., Jan. 1, 1929.