Bankers Worlds Fair NB, Saint Louis, MO (Charter 7179)
Bankers World's Fair NB, Saint Louis, MO (Chartered 1904 - Liquidated 1904)
Town History
St. Louis is the second-largest city in Missouri. It sits near the confluence of the Mississippi and the Missouri Rivers. In 2020, the city proper had a population of 301,578, while the bi-state metropolitan area, which extends into Illinois, had an estimated population of over 2.8 million, making it the largest metropolitan area in Missouri and the second-largest in Illinois.
The founding of St. Louis was preceded by a trading business between Gilbert Antoine de St. Maxent and Pierre Laclède Liguest in the fall of 1763. St. Maxent invested in a Mississippi River expedition led by Laclède, who searched for a location to base the company's fur trading operations. Though Ste. Genevieve was already established as a trading center, he sought a place less prone to flooding. He found an elevated area overlooking the flood plain of the Mississippi River, not far south from its confluence with the Missouri and Illinois rivers. In addition to having an advantageous natural drainage system, there were nearby forested areas to supply timber and grasslands which could easily be converted for agricultural purposes. This place, declared Laclède, “might become, hereafter, one of the finest cities in America.” He dispatched his 14-year-old stepson, Auguste Chouteau, to the site, with the support of 30 settlers in February 1764. Laclède arrived at the future town site two months later and produced a plan for St. Louis based on the New Orleans street plan. The default block size was 240 by 300 feet, with just three long avenues running parallel to the west bank of the Mississippi. He established a public corridor of 300 feet fronting the river, but later this area was released for private development.
St. Louis was transferred to the French First Republic in 1800 (although all of the colonial lands continued to be administered by Spanish officials), then sold by the French to the U.S. in 1803 as part of the Louisiana Purchase. St. Louis became the capital of, and gateway to, the new territory. Shortly after the official transfer of authority was made, the Lewis and Clark Expedition was commissioned by President Thomas Jefferson. The expedition departed from St. Louis in May 1804 along the Missouri River to explore the vast territory.
St. Louis became a major port on the Mississippi River and from 1870 until the 1920 census, it was the fourth-largest city in the country. It separated from St. Louis County in 1877, becoming an independent city and limiting its political boundaries. In 1904, it hosted the Louisiana Purchase Exposition and the Summer Olympics.
Saint Louis had 42 National Banks chartered during the Bank Note Era, and 37 of those banks issued National Bank Notes.
Bank History
- Organized March 18, 1904
- Chartered March 21, 1904
- Opened for business June 1, 1904
- Liquidated December 15, 1904
- The Banker's World's Fair National Bank of St. Louis (SPMC PM#163)
- The Banker's World's Fair National Bank of St. Louis--A Sequel (SPMC PM#175)
Seventeen of the largest banks and trust companies of St. Louis organized the Bankers World's Fair National Bank to be operated on the exposition grounds.
On Friday afternoon, February 26, 1904, the organization was completed at a meeting of the stockholders and directors. H.A. Forman, president of the Fourth National Bank of St. Louis, was elected president. The vice presidents chosen were C.H. Huttig, president of the Third National Bank; August Gehner, president of the German-American Bank; R.R. Hutchinson, president of the Mechanics National Bank; William H. Thomson, cashier of the Boatmen's Bank; and N.A. McMillan, vice president of the St. Louis Union Trust Company. The new bank had paid up capital of $200,000 and would be situated in the "closure" near the entrance and facing the cascade. The stockholders and directors of the bank and the safety deposit department, although two separate institutions, were the same. They were H.A. Forman, R.R. Hutchinson, N.A. McMillan, C.H. Huttig, Wm. H. Thomson, August Gehner, G.A. Held, cashier of the International Bank; G.W. Garrels, president of the Franklin Bank; William H. Thompson, president of the National Bank of Commerce; H. Hunicke, assistant cashier of the German Savings Bank; Tom Randolph, president of the Commonwealth Trust Company; Walker Hill, president of the American Exchange Bank; Harrison I. Drummond, directors of the Merchants-Laclede National Bank; Charles Hamilton, secretary of the Lincoln Trust Company; George W. Wilson, treasurer of the Mercantile Trust Company; August Schlafly, president of the Missouri Trust Company; and Julius S. Walsh, president of the Mississippi Valley Trust Company. The cashier and assistant cashier of the bank, to be selected at a future date, would be the only active officials of the institution. The other officers would visit the bank only when needed. The bank would be kept open until a late hour every evening the the accommodation of visitors and concessionaires. The gate receipts and government funds would pass through the bank and proceeds would be divided equally among the various banks interested. The safety deposit department would be subject to practically the same regulations. Its officers were G.W. Garrels, president; and H.I. Drummond, Walker Hill, George W. Wilson, H. Hunicke, and Julius S. Walsh, vice presidents. Messrs. Forman, Thompson and Garrels were authorized to supervise the construction of a building containing both the bank and the safety deposit department. The safety deposit department was capitalized at $100,000 and would have 2,500 deposit boxes. Both the bank and safety deposit department would cease operations at the close of the fair.
A burglar-proof subterranean vault said to be burglar-proof and able to withstand the cleverest safe crackers was used by the Bankers World's Fair National Bank. Another vault in the same building was used to demonstrate to visiting bankers how it worked. The vault was the invention of G.B. Linney, a banker at Osceola, Missouri, who was president of the Subterranean Vault and Safe Co., organized under the laws of Arizona and capitalized at $500,000. The company planned to establish a factory in St. Louis to manufacture the vaults. The concept was to deny safe crackers access to the safe to apply nitroglycerin. The principle was to place the safe in a subterranean vault where the safe blower could not get to it. Any safe could be used. The vault was of 2-inch steel sunk in the earth under the bank building. The vault cover was circular, made of manganese steel and weighed 2,000 pounds. Inside the vault was a platform used to raise and lower the safe by a hydraulic device secured by a time lock. H.A. Forman, president of the Fourth National Bank, said the vault is simple and effective.
The Bankers World's Fair National Bank situated near the main entrance of the fair opened for business on Saturday, May 28, 1904. The building was constructed in harmony with the plan of the other buildings and represented an expenditure of more than $20,000. C.E. Bryan, formerly of the Third National Bank, was the cashier. Mr. Bryan was assisted by from 8-10 clerks, the number of which would be adjusted based on business demands. The bank had large rooms for the convenience of visitors, elegantly furnished with writing materials, newspapers and other conveniences. On the second floor of the bank, six sleeping rooms were tastefully fitted up. These rooms were for the employees of the bank and the safety deposit department. Gate receipts would be deposited at about midnight, so the decision was made that the bank force would reside in the bank building. W.H. Thompson, president of the National Bank of Commerce, had an office in this building.
On Tuesday afternoon, November 29, 1904, at a meeting of directors and stockholders, it was decided to close all accounts and go into voluntary liquidation on December 15th. The same action would be taken by the Worlds Fair Safe Deposit Co. which was established in connection with the bank.
Official Bank Title(s)
1: The Bankers World's Fair National Bank of Saint Louis, MO
Bank Note Types Issued
A total of $50,100 in National Bank Notes was issued by this bank between 1904 and 1904. This consisted of a total of 668 notes (668 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 50-100 1 - 334
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1904 - 1904):
Presidents:
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Missouri Bank Note History
- General information on Saint Louis (Wikipedia)
- General information on St. Louis County (Wikipedia)
- General information on Missouri (Wikipedia)
Sources
- Saint Louis, MO, 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
- St. Louis Glove-Democrat, St. Louis, MO, Sun., Feb. 28, 1904.
- The St. Louis Republic, St. Louis, MO, Thu., Mar. 3, 1904.
- The Evening Republican, Clinton, MO, Fri., May 13, 1904.
- The St. Louis Republic, St. Louis, MO, Sat., May 28, 1904.
- The St. Louis Republic, St. Louis, MO, Wed., Nov. 30, 1904.