Bank of Pittsburgh NA, Pittsburgh, PA (Charter 5225)
Bank of Pittsburgh NA, Pittsburgh, PA (Chartered 1899 - Receivership 1931)
Town History
Pittsburgh is a city in the state of Pennsylvania and the county seat of Allegheny County. As of the 2020 census, the population was 302,971 living within the city limits making it the 68th-largest city in the U.S. and the second-most populous city in Pennsylvania, behind Philadelphia. The Pittsburgh metropolitan area is the anchor of Western Pennsylvania; its population of 2.37 million is the largest in both the Ohio Valley and Appalachia, the second-largest in Pennsylvania, and the 27th-largest in the U.S.
Pittsburgh is located in the southwest of the state, at the confluence of the Allegheny River and the Monongahela River, forming the Ohio River. Pittsburgh is known both as "the Steel City" for its more than 300 steel-related businesses and as the "City of Bridges" for its 446 bridges. The city features 30 skyscrapers, two inclined railways, a pre-revolutionary war fortification and the Point State Park at the confluence of the rivers. The city developed as a vital link of the Atlantic coast and Midwest.
Aside from steel, Pittsburgh has led in the manufacturing of other important materials — aluminum and glass — and in the petroleum industry. Additionally, it is a leader in computing, electronics, and the automotive industry. For part of the 20th century, Pittsburgh was behind only New York City and Chicago in corporate headquarters employment; it had the most U.S. stockholders per capita. Deindustrialization in the 1970s and 1980s laid off area blue-collar workers as steel and other heavy industries declined, and thousands of downtown white-collar workers also lost jobs when several Pittsburgh-based companies moved out. The population dropped from a peak of 675,000 in 1950 to 370,000 in 1990. However, this rich industrial history left the area with renowned museums, medical centers, parks, academic institutions, research centers, and a diverse cultural district.
After the deindustrialization of the mid-20th century, Pittsburgh has transformed into a hub for the health care, education, and technology. Pittsburgh is a leader in the health care sector as the home to large medical providers such as University of Pittsburgh Medical Center (UPMC). The area is home to 68 colleges and universities, including research and development leaders Carnegie Mellon University and the University of Pittsburgh. Google, Apple Inc., Bosch, Facebook, Uber, Nokia, Autodesk, Amazon, Microsoft and IBM are among 1,600 technology firms generating $20.7 billion in annual Pittsburgh payrolls. The area has served as the long-time federal agency headquarters for cyber defense, software engineering, robotics, energy research and the nuclear navy. The nation's fifth-largest bank, eight Fortune 500 companies, and six of the top 300 U.S. law firms make their global headquarters in the area, while RAND Corporation (RAND), BNY Mellon, Nova, FedEx, Bayer, and the National Institute for Occupational Safety and Health (NIOSH) have regional bases that helped Pittsburgh become the sixth-best area for U.S. job growth.
Pittsburgh was named in 1758, by General John Forbes, in honor of British statesman William Pitt, 1st Earl of Chatham. Pittsburgh was incorporated as a borough on April 22, 1794. From 1891 to 1911, the city's name was federally recognized as "Pittsburg", though use of the final h was retained during this period by the city government and other local organizations including most, but not all national banks. After a public campaign, the federal decision to drop the h was reversed.
The North Side is home to various neighborhoods in transition. What is known today as Pittsburgh's North Side was once known as Allegheny City, and operated as a city independently of Pittsburgh until it was merged with Pittsburgh in 1907 under great protest from its citizens.
The South Side was once the site of the Pennsylvania Railroad rail yards and associated dense, inexpensive housing for mill and railroad workers. Since the late 20th century, the city undertook a Main Street program in cooperation with the National Trust for Historic Preservation, encouraging design and landscape improvements on East Carson Street, and supporting new retail. The area has become a local Pittsburgher destination. East Carson Street has developed as one of the most vibrant areas of the city, packed with diverse shopping, ethnic eateries, vibrant nightlife, and live music venues.
In 1993 the Urban Redevelopment Authority of Pittsburgh purchased the South Side Works steel mill property. It collaborated with the community and various developers to create a master plan for a mixed-use development, to include a riverfront park, office space, housing, health-care facilities, and indoor practice fields for the Pittsburgh Steelers and Pitt Panthers. Construction began in 1998. The South-Side Works has been open since 2005, featuring many stores, restaurants, offices, and the world headquarters for American Eagle Outfitters.
The East End of Pittsburgh is home to the University of Pittsburgh, Carnegie Mellon University, Carlow University, Chatham University, The Carnegie Institute's Museums of Art and Natural History, Phipps Conservatory, and Soldiers and Sailors Memorial Hall. It is also home to many parks and public spaces including Mellon Park, Westinghouse Park, Schenley Park, Frick Park, The Frick Pittsburgh, Bakery Square, and the Pittsburgh Zoo and PPG Aquarium. The neighborhoods of Shadyside and Squirrel Hill are large, wealthy neighborhoods with some apartments and condos, and pedestrian-oriented shopping/business districts. Squirrel Hill is also known as the hub of Jewish life in Pittsburgh, home to approximately 20 synagogues. Oakland, heavily populated by undergraduate and graduate students, is home to most of the universities, and the Petersen Events Center. The Strip District to the west along the Allegheny River is an open-air marketplace by day and a clubbing destination by night. Bloomfield is Pittsburgh's Little Italy and is known for its Italian restaurants and grocers. Lawrenceville is a revitalizing rowhouse neighborhood popular with artists and designers. The Hill District was home to photographer Charles Harris as well as various African-American jazz clubs. Other East End neighborhoods include Point Breeze, Regent Square, Homewood, Lincoln-Lemington-Belmar, Larimer, East Hills, East Liberty, Polish Hill, Hazelwood, Garfield, Morningside, and Stanton Heights.
The West End includes Mt. Washington, with its famous view of the Downtown skyline and numerous other residential neighborhoods such as Sheraden and Elliott.
Pittsburgh had 47 National Banks chartered during the Bank Note Era, and 46 of those banks issued National Bank Notes. Pittsburgh also had several Obsolete Banks that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).
Bank History
- Organized October 3, 1899
- Chartered October 23, 1899
- Succeeded Bank of Pittsburgh
- Merged with Merchants and Manufacturers National Bank (Charter 613) and the Iron City National Bank (Charter 675) on January 1, 1904
- Assumed 4910 and its circulation by consolidation March 5, 1927 (Columbia National Bank, Pittsburgh, PA)
- Receivership September 21, 1931
The Bank of Pittsburgh was organized in 1810 and chartered by a special act of the Legislature in 1814. In 1814 William Wilkins, one of Pittsburgh's stalwart pioneers, was elected president. The ground was purchased at what would become 226-228-230 Fourth Avenue and the original bank erected in 1831. Even in the panics of 1837 and 1856, the Bank of Pittsburgh never actually suspended specie payments, it having met all reasonable demands with coin and did the same in 1860-1861.
On Monday, November 18, 1844, the following named gentlemen were chosen as directors of the Bank of Pittsburgh: John Graham, James Dalzell, Thomas Bakewell, C. Anshutz, Wm. Holmes, John Bissell, Wm. McKnight, James Wood, D.T. Morgan, George Hogg, C.F. Spang, M. Leech, and Charles Avery.
Mr. John Harper was cashier and later president of the Bank of Pittsburgh. He was born December 5, 1811 in County Donegal, and came from an old family of County Tyrone, Ireland. In 1831 Mr. Harper became a bookkeeper in the house of M. & A. Leech, of Pittsburgh, and on Sept. 19, 1832, he was chosen, without his solicitation, to a position in the Bank of Pittsburgh, where he soon became principal clerk. In 1837 he was sent to Beaver as cashier in the branch bank at that place, but was soon recalled to become assistant cashier in the Bank of Pittsburgh. He was chosen cashier on the resignation of that office by Mr. John Snyder, and subsequently succeeded Mr. John Graham as president of the bank. During his service of more than half a century, the bank passed safely through all the financial crises that occurred and there was never a defalcation in its accounts, or a misdemeanor by any of its officers involving the loss of a dollar. It had never repudiated its obligations, and never failed to pay a semi-annual dividend. Mr. Harper has occupied many other responsible positions. He was president of the Pittsburgh Clearing House upon its organization; president of the Western Pennsylvania Hospital, of which he was a founder; president of the Pittsburgh & Allegheny Suspension Bridge Co.; a director in the Monongahela Navigation Co.; and a trustee in the Western University of Pennsylvania. He was president of the Bank of Pittsburgh upon his death on April 5, 1891.
Stockholders of the Bank of Pittsburgh were notified by W.F. Bickel, cashier, of a meeting on September 27, 1899 for the purpose of voting on the question of converting the bank into a National Banking Association.
In January 1900, The Bank of Pittsburgh, National Association, located at 226-230 Fourth Avenue, had as officers James J. Donnell, president; Wm. Roseburg, vice president; and W.F. Bickel, cashier. It had capital of 1,200,000 and surplus of $600,000. The Bank of Pittsburgh was organized in 1810 under a state charter.
On January 2, 1904, a change took place in the conduct of the business of the Bank of Pittsburgh, owing to its merging the Merchants and Manufacturers National and the Iron City National Banks. The moving of these two institutions into the stately home of the parent bank was completed the day prior. A large force of men were employed moving books and papers from the buildings formerly occupied by the Merchants and Manufacturers and the iron City banks. Wilson A. Shaw was made president to succeed J.J. Donnell who retired. Mr. Shaw was president of the Merchants and Manufacturers National Bank. Joseph R. Paull, former president of the Iron City National Bank was made first vice president and one of the active officials of the institution. William Roseburg, the veteran vice president of the Bank of Pittsburgh was elected to the office of vice president. John Caldwell, vice president of the Merchants and Manufacturers, another vice president, and Dallas C. Byers was made fourth vice president. The new position of auditor was made and George F. Wright, former vice president of the Iron City National was in that position. George F. Bickel retained his position as cashier and he would be assisted by J.M. Russel, formerly cashier of the Merchants and Manufacturers; J.D. Ayres, who was assistant cashier of the Merchants and Manufacturers; and W.L. Jack, who was paying teller of the Bank of Pittsburgh. The plan was to dispose of the Merchants and Manufacturers bank property as well as the Iron City National property in the future as opportunities were offered.
In May 1904, the Guarantee Title & Trust Co. moved to the building at 232 Fourth Avenue formerly occupied by the Iron City National Bank.
In January 1916, the following were elected directors: Harrison Nesbit, Wilson A. Shaw, Reuben Miller, James J. Donnell, J. Stuart Brown, T. Clifton Jenkins, H.M. Brackenridge, John E. Hurford, Albert Logan, I.W. Frank, George A. Kelly, Jr., E.M. Byers, F.N. Beegle, C.F. Holdship, John F. Miller, E.R. Crawford, and J.D. Ayres. F.M. Beegle succeeded Frederick Davidson as director. J.R. McGinley retired from the directorate of this bank.
On January 11, 1927, the following were elected directors: Harrison Nesbit, Wilson A. Shaw, J. Stuart Brown, T. Clifton Jenkins, H.M. Brackenridge, Albert J. Logan, George A. Kelly, Jr., I.W. Frank, John F. Miller, E.T. Weir, E.R. Crawford, C.F Holdship, J.D. Ayres, Frank J. Lanahan, George Davidson, J.W. Oliver, C.E. Rafter, H.E. Sheldon, L.F. Crawford. J.M. Russell (new), Alex Dunbar (new), S.B. Congdon (new), and W.A. Wilson (new).
On February 2, 1927, the merger of the Bank of Pittsburgh National Association and the Columbia National Bank with deposits totaling $65 million was announced. The merger would be effective on March 7th. In Punxsutawney, ground hog predicts long, hard winter. Old man Marmot left his place of hibernation on Canoe Ridge early on the 2d, but was back in his hole after one sleepy squint at his shadow.
On March 4, 1927, consolidation was completed when shareholders of the two institutions ratified the action of their boards who approved the merger a month earlier. The action broght an end to the existence of the Columbia National Bank which was established in 1893 and was located at Fourth Avenue and Wood Street. The merged bank retained the name of the Bank of Pittsburgh, N.A. and the business would be conducted at its building at 226 Fourth Avenue. The Columbia National had deposits of $11 million, bringing total deposits of the merged institution to $65 million. The officers of the consolidated bank were: Harrison Nesbit, president; Wilson A. Shaw, vice president and chairman of the board; J.D. Ayres, J.M. Russell, vice presidents; Alex Dunbar, vice president and cashier; S.B. Conglon, William H. Bell, Thomas H. Eddy, W.T. Davidson, and V.C. Boggs, vice presidents; Frank D. Young, William M. Kiser, Scott N. Nesbit, and S. M. Shelly, assistant cashiers; John H. Reusher, comptroller. The trust department would consist of William A. Wilson, vice president and trust officer, and Foster W. Doty, assistant trust officer. W.T. Davidson, vice president and cashier, and Verner C. Boggs, vice president of the Columbia National became vice presidents of the new organization and the employees of the Columbia were retained in the consolidated bank. The enlarged board was as follows: Harrison Nesbit, Wilson A. Shaw, J. Stuart Brown, T. Clifton Jenkins, H.M. Brackenridge, Albert J. Logan, Isaac W. Frank, George A. Kelly, Jr., C.F. Holdship, John F. Miller, E.R. Crawford, J.D. Ayres, E.T. Weir, Frank J. Lanahan, John T. Watson, George Davidson, J.W. Oliver, C.E. Rafter, H.E. Sheldon, L.F. Crawford, James H. Marshall, Alex Dunbar, Sidney B. Congdon, William A. Wilson, W.E. Frick, James B. Haines, Jr., E.S. Hoopes, J.H. Childs, R.G. Jennings, and E.W. Mudge.
On Tuesday, January 13, 1931, the directors elected were Harrison Nesbit, J. Stuart Brown, T. Clifton Jenkins, Albert J. Logan, George A. Kelly, Jr., C.F. Holdship, E.R. Crawford, Frank J. Lanahan, C.E. Rafter, John B. Watson, James H. Childs, Charles A. Rowan, B.D. Phillips, H.F. Bovard, D.E. Weir, James G. Lewis, J.D. Berg, Benjamin L. Hirshfield, William K. Frank, J.F. Deasy, James M. Russell, Sidney B. Congdon, and William A. Wilson.
On September 21, 1931, The Bank of Pittsburgh, N.A., founded in 1810, suspended business and asked the comptroller of the currency to take charge of its assets. Two other Pittsburgh banks closed: The Highland National Bank (a subsidiary of the Bank of Pittsburgh) and The Franklin Savings & Trust Company and its produce yards branch. The last statement of the Bank of Pittsburgh, N.A. listed assets at $53,343,953 and deposits of $56,921,056. The board of directors said the drain upon the bank had arisen largely from withdrawals of deposits made by banks in other sections of the country who had been called upon to use their funds at home.
Official Bank Title(s)
1: The Bank of Pittsburgh National Association, Pittsburgh, PA
Bank Note Types Issued
A total of $30,329,450 in National Bank Notes was issued by this bank between 1899 and 1931. This consisted of a total of 3,559,826 notes (3,559,826 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 - 98770 1882 Brown Back 3x10-20 1 - 55005 1882 Brown Back 50-100 1 - 11563 1882 Date Back 4x5 1 - 202500 1882 Date Back 3x10-20 1 - 117500 1882 Date Back 50-100 1 - 2900 1882 Date Back 3x50-100 1 - 3434 1882 Value Back 4x5 202501 - 269625 1882 Value Back 3x10-20 117501 - 157323 1902 Plain Back 4x5 1 - 187040 1902 Plain Back 3x10-20 1 - 111528
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1899 - 1931):
Presidents:
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Pennsylvania Bank Note History
- General information on Pittsburgh (Wikipedia)
- General information on Allegheny County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Pittsburgh, PA, 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
- Library of Congress, Bank of Pittsburgh, N.A., accessed Dec. 8, 2022.
- Pittsburgh Daily Post, Pittsburgh, PA, Thu., Nov. 21, 1844.
- Pittsburgh Dispatch, Pittsburgh, PA, Mon., Apr. 6, 1891. April 06, 1891.
- Pittsburgh Post-Gazette, Pittsburgh, PA, Mon., Aug. 21, 1899.
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., Jan. 10, 1900.
- Pittsburgh Daily Post, Pittsburgh, PA, Sat., Jan. 2, 1904.
- Pittsburgh Daily Post, Pittsburgh, PA, Tue., Feb. 2, 1904.
- Pittsburgh Daily Post, Pittsburgh, PA, Mon. Feb. 22, 1904.
- Pittsburgh Daily Post, Pittsburgh, PA, Tue., Mar. 29, 1904.
- The Pittsburgh Press, Pittsburgh, PA, Wed., May 25, 1904.
- The Pittsburgh Press, Pittsburgh, PA, Tue., Jan. 11, 1916.
- The Pittsburgh Press, Pittsburgh, PA, Tue., Jan. 11, 1927.
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., Feb. 2, 1927.
- Pittston Gazette, Pittston, PA, Wed., Feb. 2, 1927.
- Pittsburgh Post-Gazette, Pittsburgh, PA, Sat., Mar. 5, 1927.
- The Pittsburgh Press, Pittsburgh, PA, Tue., Jan. 13, 1931.
- The Daily Sentinel-Tribune, Bowling Green, OH, Mon. Sep. 21, 1931.