American National Bank, San Francisco, CA (Charter 6426)
American National Bank, San Francisco, CA (Chartered 1902 - Liquidated 1923)
Town History
San Francisco, officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the fourth most populous city in California, with 808,437 residents, and the 17th most populous city in the United States as of 2022.
San Francisco was founded on June 29, 1776, when settlers from New Spain established the Presidio of San Francisco at the Golden Gate, and the Mission San Francisco de Asís a few miles away, both named for Francis of Assisi. The California Gold Rush of 1849 brought rapid growth, transforming an unimportant hamlet into a busy port, making it the largest city on the West Coast at the time; between 1870 and 1900, approximately one quarter of California's population resided in the city proper. In 1856, San Francisco became a consolidated city-county. After three-quarters of the city was destroyed by the 1906 earthquake and fire, it was quickly rebuilt, hosting the Panama-Pacific International Exposition nine years later.
San Francisco and the surrounding San Francisco Bay Area are a global center of economic activity and the arts and sciences, spurred by leading universities, high-tech, healthcare, finance, insurance, real estate, and professional services sectors. As of 2020, the metropolitan area, with 6.7 million residents, ranked 5th by GDP ($874 billion) and 2nd by GDP per capita ($131,082), ahead of global cities like Paris, London, and Singapore.
San Francisco had 21 National Banks chartered during the Bank Note Era, and all 21 of those banks issued National Bank Notes.
Bank History
- Organized August 25, 1902
- Chartered September 17, 1902
- Succeeded American Bank and Trust Company
- Liquidated August 18, 1923
- Succeeded by The American Bank of San Francisco
In September 1887, the American Bank and Trust Company filed articles of incorporation, the capital stock being $500,000, divided into 5,000 shares. Thus far, $200,000 had been subscribed. The directors were E.B. Mastick, Abner Doble, James A. Waymire, T.H. Downing, J.W. Farren, S.P. Lunt, and O.E. Moore.[1] On December 8, 1887, the new trust company was incorporated.[2]
The night of May 23, 1888, the American Bank and Trust Company, located on the corner of Commercial and Montgomery Streets, was thought to have been robbed when Aaron Crocker, a messenger, reported an open window to Captain Stone at the central police station. Police responded and entered through the window, but found the vaults undisturbed. This same institution, then known as Sather & Co.'s Bank was robbed a number of years ago by Jimmie Hope who was sent to San Quentin prison for a long term of years for the job. Jimmie Hope was discharged about 9 months earlier and was sent to Sing Sing prison to serve out part of an old sentence which he tried to cut short by escaping from that institution.[3]
In June 1901, Mrs. Margaret Olcese-Borlini began divorce proceedings from her husband, Alfred A. Borlini on the grounds that he had deserted and failed to provide for her. The wedding, one of the events of Oakland society, took place a year earlier. While enjoying their wedding tour, Borlini confided to his wife that he had embezzled from his employers, the American Bank and Trust Company, a large sum of money, hoping she would come to his rescue with her wealth and shield him from disgrace and the penitentiary. Realizing she had been duped, that Borlini had married her for her money, she left her husband immediately, coming home alone and leaving him to follow. With no recourse, Mr. Borlini confessed his peculations to his employers, although he would not say what it was that brought ruin upon him. Through the efforts of influential friends who made good the shortage, Cashier Borlini escaped prosecution and the penitentiary and was allowed to go free.[4]
In March 1902, P.E. Bowles, president of the First National Bank of Oakland purchased the controlling interest in the American Bank and Trust Company of San Francisco. Mr. Bowles said he had been successful in distributing a great deal of the stock among the best commercial men of San Francisco and that a new board of directors would be seated soon. The board would consist of Mr. Bowles, Francis Cutting of the Cutting Packing Company; G.P. McNear, president of the Bank of Sonoma County; W.H. Chickering of Chickering & Gregory; and Louis F. Monteagle of the San Francisco Gas Company and Security Savings Bank. The capital stock which was $500,000 would be increased to $1,000,000. The American Bank and trust Company was instituted in 1888. Edwin Fretwell was president and O.D. Baldwin, vice president. L.C. Morehouse, Socrates Huff and other capitalists were interested in the bank.[5] In August, the American Bank and Trust Company reorganized as the American National Bank of San Francisco. Elsewhere, the Citizens Bank of Santa Clara absorbed the Santa Clara Valley Bank at Santa Clara with H.G. Bond, president and E.F. Jordan, cashier.[6]
On Monday afternoon, January 15, 1906, the newly elected directors re-elected the following officers: P.E. Bowles, president; Francis Cutting and E.W. Wilson, vice presidents; George N. O'Brien, cashier; E.J. Broberg and O.D. Jacoby assistant cashiers; H. De Saint Seine, manager, foreign exchange department.[7]
On Wednesday, April 18, 1906, the coast of Northern California was struck by a major earthquake with an estimated moment magnitude of 7.9. As damaging as the earthquake and its aftershocks were, the fires that burned out of control afterward were far more destructive. It has been estimated that up to 90% of the total destruction was the result of the subsequent fires. Within three days, over 30 fires, caused by ruptured gas mains, destroyed approximately 25,000 buildings on 490 city blocks. Since widespread practice by insurers was to indemnify San Francisco properties from fire, but not from earthquake damage, some property owners deliberately set fire to damaged properties. The fires cost an estimated $350 million at the time.
After the 1906 Earthquake, the Merchants' Exchange building was badly damaged and a temporary office was established with the First National Bank of Oakland.[8] On Monday, May 7, 1906, the American National Bank resumed its tenancy of the quarters it occupied on the ground floor of the Merchants Exchange building on the east side of the main entrance. This was the first bank to return to the banking district. It was only seventeen days since the building was swept by the flames. The debris had been removed and temporary furniture such as counters and desks and other accessories had taken the place of the costly furnishings which were destroyed.[9] The San Francisco National Bank rented quarters on the west side of the ground floor, while on the floor above the German Savings Bank and the Safe Deposit and Trust Company found quarters.[10]
In January 1907, the American National Bank re-elected the following directors and officers: P.E. Bowles, president; Francis Cutting, and E.W. Wilson, vice presidents; George P. McNear, Louis F. Monteagle, Henry J. Crocker, Harvey C. Somers, W.H. Chickering, W.H. Talbot, James McNab, directors; George N. O'Brien, cashier; E.J. Broberg and O.D. Jacoby, assistant cashiers.[11]
In January 1923, final arrangements for the absorption of the Bank of Tracy with its Byron branch into the American Bank of Oakland were made by the directors of the Bank of Tracy. The controlling interest in the Bank of Tracy was purchased by the American Bank of Oakland last August. The stock of the Tracy bank and its branch was comprised of 1,000 shares valued at $125 a share. The officers of the local bank would remain the same except they would be known as the manager and board of advisors instead of the president and directors. William Schmidt thus became the manager of the new branch and L.A. Keil was its cashier. The American Bank of Oakland was affiliated with the American National Bank of San Francisco and the First National Bank of Oakland representing a combined capital of many millions. The American Bank of Modesto was also a branch of the American Bank of Oakland.[12]
On January 9th, E.P. Bowles, chairman of the board of directors of the American National Bank announced the purchase of sufficient stock of the Security Bank and Trust Company of San Francisco to permit an amalgamation of the two, but such amalgamation had not been decided.[13] The Bowles organization with P.E. Bowles in charge comprised, in addition to the American National Bank and the First National and American Bank of Oakland, numerous branches in Oakland, Berkeley, and Piedmont, and banks in Modesto, Tracy, Livermore and Martinez. The Security Bank and Trust Company was founded in 1871 as the Security Savings Bank by William Babcock and other pioneer businessmen of San Francisco. The control passed to S. Waldo Coleman in 1921 as well as authority to do a commercial and trust business in addition to conducting a savings bank.[14]
In June 1923, an announcement was made that the American National Bank of San Francisco would be merged with the Security Bank and Trust Company to be known as the American Bank of San Francisco. Original plans called for operation under a state charter using the name of the American Bank of California, but protests from the Bank of California necessitated the change.[15] The American National was located at 495 California Street at Montgomery.[16]
Stockholders of the American National Company voted on the merger on September 7th in the American Bank Building.[17] Roger Sherman was made the liquidating agent for the American National Bank.[18]
Official Bank Title
1: The American National Bank of San Francisco, CA
Bank Note Types Issued
A total of $10,943,950 in National Bank Notes was issued by this bank between 1902 and 1923. This consisted of a total of 1,077,480 notes (1,077,480 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 1902 Red Seal 4x5 1 - 39795 1902 Red Seal 3x10-20 1 - 40082 1902 Date Back 4x5 1 - 41330 1902 Date Back 3x10-20 1 - 71168 1902 Date Back 3x50-100 1 - 5000 1902 Plain Back 4x5 41331 - 77690 1902 Plain Back 3x10-20 71169 - 106803
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1902 - 1923):
Presidents:
Cashiers:
- John Uberto Calkins, 1903-1903
- George N. O'Brien, 1904-1910
- Ernest John Broberg, 1911-1911
- Russell Lowry, 1912-1912
- D. B. Fuller Sr., 1913-1914
- Irving H. Sanborn, 1915-1917
- George McNear Bowles, 1918-1922
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
- American National Bank, San Francisco, CA History (NB Lookup)
- California Bank Note History (BNH Wiki)
Sources
- San Francisco, CA, 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. 72, Jan. 1906-June 1906, pp 697-698.
- ↑ The San Francisco Examiner, San Francisco, CA, Thu., Sep. 8, 1887.
- ↑ The marysville Appeal, Marysville, CA, Fri., Dec. 8, 1887.
- ↑ San Francisco Chronicle, San Francisco, CA, Thu., May 24, 1888.
- ↑ The San Francisco Call and Post, San Francisco, CA, Fri., June, 21, 1901.
- ↑ Oakland Times, Oakland, CA, Fri., Apr. 4, 1902.
- ↑ San Francisco Chronicle, San Francisco, CA, Thu., Aug. 14, 1902.
- ↑ The Recorder, San Francisco, CA, Wed., Jan. 17, 1906.
- ↑ The Bankers' Magazine, Vol. 72, Jan. 1906-June 1906, pp 697-698.
- ↑ Oakland Tribune, Oakland, CA, Sat., May 5, 1906.
- ↑ The Sacramento Bee, Sacramento, CA, Mon., Apr. 30, 1906.
- ↑ The San Francisco Call and Post, San Francisco, CA, Thu., Jan. 10, 1907.
- ↑ The Modesto Bee, Modesto, CA, Fri., Jan. 5, 1923.
- ↑ The Sacramento Bee, Sacramento, CA, Wed., Jan. 10, 1923.
- ↑ Oakland Tribune, Oakland, CA, Wed., Jan. 10, 1923.
- ↑ The Los Angeles Times, Los Angeles, CA., Thu., June 28, 1923.
- ↑ The San Francisco Examiner, San Francisco, CA, Tue., July 3, 1923.
- ↑ The Recorder, San Francisco, CA, Tue., Sep. 4, 1923.
- ↑ The Lemoore Advance, Lemoore, CA, Tue., Nov. 13, 1923.