Bernardsville National Bank, Bernardsville, NJ (Charter 6960)
Bernardsville National Bank, Bernardsville, NJ (Chartered 1903 - Open past 1935)
Town History
Bernardsville is the northernmost borough in Somerset County, New Jersey. Situated in the heart of the Raritan Valley region, the borough is part of the Somerset Hills. Bernardsville is often mispronounced as "Ber-NARDS-ville" as opposed to the correct pronunciation "BER-nards-ville". As of the 2020 United States census, the borough's population was 7,893. In 1930 the population was 3,336.
Bernardsville was incorporated as a borough by an act of the New Jersey Legislature on March 6, 1924, from portions of Bernards Township, based on the results of a referendum held on April 29, 1924. The borough was named for Sir Francis Bernard, 1st Baronet, who served as governor of the Province of New Jersey before the Revolutionary War.
Bernardsville had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.
Bank History
- Organized July 2, 1903
- Chartered September 22, 1903
- Bank was Open past 1935
- Title changed to Somerset Hills National Bank of Bernardsville, New Jersey, March 9, 1949
On September 22, 1903, the deputy and acting comptroller of the currency, T.P. Kane, authorized the Bernardsville National Bank to commence the business of banking. The bank began in a 20 foot room located in the David Buist Building on Claremont Road. It started with a paid-in capital of $15,280 and its deposits on opening day amounted to $7,817.85.
Early on April 12, 1905, an unsuccessful attempt was made to rob the Bernardsville National Bank. The burglars forced an entrance through the front door of the building by the use of pick axes and chisels which they had obtained at a blacksmith shop near by. The padlock on the door and the door lock were broken and the door much battered. The marauders then drilled a hole in the large safe, inserted nitroglycerine and blew open the outer door. Another charge was placed in the inner door, but aside from blowing the combination off, was ineffective.
On Tuesday, January 8, 1907, the stockholders elected the following directors: B. Amster, E.C. Bataille, David Buist, Hon. Samuel S. Childs, Luther Childs, M.F. Ellis, P.C. Henry, R.F. Randolph, Charles L. Roberts, Calvin D. Smith, and G.S. Van Arsdale. The following officers were elected: Charles L. Roberts, president; P.C. Henry, vice president; S.S. Childs, vice president; and E.L. Kitchell, cashier. By the end of the year, the bank had capital of $30,000 and deposits of $220,000.
In 1912, having outgrown its old quarters in the Buist Building, the bank purchased the lot at the corner of Mine Brook Road and Claremont Road. In 1913, it completed the erection of a modern, two-story brick building which served as the home of "Somerset Hills Million Dollar Bank." In 1928, the directors found it advisable to make improvements and enlargements at a cost of more than $95,000. These improvements included offices, directors' rooms and wash rooms located on the mezzanine floor, cashier's tellers' and note teller's departments, and a telephone switch board installed in the rear. The officers for 1928 were Charles L. Roberts, president; Harold W. Headly, first vice president; Luther Childs, second vice president; Russel F. Randolph, third vice president; Chester C. Brown, cashier; and Ernest Ammerman, assistant cashier. The directors were Chester C. Brown, Luther Childs, Monroe Ellis, Harold W. Headly, C.M. Henry, Russel F. Randolph, A.R. Runyon, Charles L. Roberts, and George Van Arsdale. The building was opened for public inspection on Saturday, May 12, with refreshments and cigars served.
On Tuesday, January 11, 1938, the directors of the Bernardsville National Bank at their annual meeting at the banking house on Mine Brook Road, re-elected Abram D. Runyon of Millington, president for his sixth term and re-named Dr. Josiah Meigh of Bernardsville to his seventh term as first vice president and Dr. Clare M. Henry as second vice president for a fourth term. J. Herbert Childs was re-elected secretary; Alden A. Lofquist was re-named cashier; and Charles Anstedt was re-appointed trust officer and assistant cashier. Preceding the directors' meeting, the stockholders elected Arthur A. Palmer, Jr., to succeed Ralph W. Earl, resigned, and re-elected Edward T. Look, J. Herbert Childs, Gilbert M. Conish, Joseph Dobbs, Dr. Clare M. Henry, Dr. Josiah Meigh, Michael J. Nervine and Abram D. Runyon. Dr. Meigh died on May 26 in his home. Born, June 13, 1871, he was a graduate of the University of Pennsylvania Medical School in 1899. He practiced for 38 years entirely in Bernardsville. One of his chief interests was work for crippled children and he was also deeply interested in tuberculosis prevention.
On January 11, 1949, stockholders approved an increase in the common stock from $130,000 to $500,000 through the issuance of a $195,000 stock dividend and the sale of 7,000 additional shares of common stock at $35 per share. Ralph W. Earl was president. A project to establish a new office in the neighboring Bernards Township community of Basking Ridge was realized. In March temporary quarters were leased for a new, second office in the Moffett Motors Building on Finley Avenue. Additionally the bank exercised options on land at Finley Avenue and Henry Street, Basking Ridge, for a future bank building upon growth of the business. Effective March 9th, approval from the comptroller of the currency for the expansion and name change was received and The Bernardsville National Bank became Somerset Hills National Bank of Bernardsville, New Jersey. The Basking Ridge office of the Somerset Hills National Bank was planned for opening about the middle of July. A safe made on special order of the bank to fit the new office arrived as had two tellers' safety cash drawers. Mr. Ralph W. Earl, president, announced three Basking Ridge residents would be added to the staff. They were Mrs. Ida Sternberg of Ash Street, Barbara Bettler of South Maple Avenue, and John W. McArthur of South Maple Avenue.
On Tuesday, January 12, 1960, nine directors were re-elected as follows: Edward M. Barnes, Richard J. Dearborn, Ralph W. Earl, Guy George Garbrielson, Leonor F. Loree, 2nd, Michael J. Nervine, Arthur A. Palmer, Jr., Trueman H. Spencer, and Charles A. Heiss. Mr. Barnes was president and Russell Schramm was cashier.
On January 13, 1969, the County Bank and Trust Co., Somerset, was acquired and the name of the bank was changed to Somerset Hills and County National Bank. The bank operated offices in Basking Ridge, Bernardsville, Bound Brook, Franklin Park, Liberty Corner and Somerset.
On February 5, 1976, the bank merged with First National Bank-Mechanics of Burlington Township with name changed to first National Bank of West Jersey. In 1984 the title changed to First Fidelity Bank-West Jersey. At the time, Richard F. Schaub was the First Fidelity Bank of West Jersey executive and chairman of the New Jersey Bankers' Association.
Official Bank Title(s)
1: The Bernardsville National Bank, Bernardsville, NJ
Bank Note Types Issued
A total of $828,990 in National Bank Notes was issued by this bank between 1903 and 1935. This consisted of a total of 103,812 notes (71,532 large size and 32,280 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 - 556 1902 Red Seal 3x10-20 1 - 445 1902 Date Back 4x5 1 - 3525 1902 Date Back 3x10-20 1 - 2860 1902 Plain Back 4x5 3526 - 10174 1902 Plain Back 3x10-20 2861 - 6708 1929 Type 1 6x5 1 - 2238 1929 Type 1 6x10 1 - 1098 1929 Type 1 6x20 1 - 388 1929 Type 2 5 1 - 5976 1929 Type 2 10 1 - 3192 1929 Type 2 20 1 - 768
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1903 - 1935):
Presidents:
- Monroe F. Ellis, 1904-1905
- Charles L. Roberts, 1906-1931
- Harold Wade Headley, 1932-1932
- Abram Dunn Runyon, 1933-1935
Cashiers:
- Edwin LeRoy Kitchell, 1904-1907
- Chester C. Brown, 1908-1931
- Harold Wade Headley, 1933-1933
- Alden A. Lofquist, 1934-1935
Other Bank Note Signers
- Harold Wade Headley signed notes as Vice President
- Ernest H. Ammermann, Assistant Cashier 1925...1935
Wiki Links
- New Jersey Bank Note History
- General information on Bernardsville (Wikipedia)
- General information on Somerset County (Wikipedia)
- General information on New Jersey (Wikipedia)
Sources
- Bernardsville, NJ, 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
- Bernardsville News, Bernardsville, NJ, Fri., Nov. 6, 1903.
- Alexandria Gazette, Alexandria, VA. Wed., Apr. 12, 1905.
- Bernardsville News, Bernardsville, NJ, Fri., Jan. 11, 1907.
- Bernardsville News, Bernardsville, NJ, Fri., Dec. 27, 1907.
- The Courier-News, Bridgewater, NJ, Thu., May 10, 1928.
- Bernardsville News, Bernardsville, NJ, Thu., Jan. 13, 1938.
- Bernardsville News, Bernardsville, NJ, Thu., June 2, 1938.
- The Courier-News, Bridgewater, NJ, Sat., Mar. 5, 1949.
- Bernardsville News, Bernardsville, NJ, Fri., Mar. 18, 1949.
- Bernardsville News, Bernardsville, NJ, Thu., June 23, 1949.
- The Courier-News, Bridgewater, NJ, Thu., Jan. 14, 1960.
- The Central New Jersey Home News, New Brunswick, NJ, Mon., Jan. 27, 1969.
- The Courier-News, Bridgewater, NJ, Wed., Aug. 6, 1986.