Boonton National Bank, Boonton, NJ (Charter 4274)
Boonton National Bank, Boonton, NJ (Chartered 1890 - Open past 1935)
Town History
Boonton (/ˈbutən/) is a town in Morris County, in the U.S. state of New Jersey. The settlement was originally called "Boone-Towne" in 1761 in honor of the Colonial Governor Thomas Boone. As of the 2020 United States census, the town's population was 8,815. In 1890 the population was 2,981 growing to 6,866 by 1930.
Boonton was originally formed on March 16, 1866, within portions of Hanover Township and Pequannock Township. The town was reincorporated and became fully independent on March 18, 1867. The development of Boonton began in about 1829, as a result of the construction of the Morris Canal and the formation of the New Jersey Iron Company. The original location of the town is now largely under the Jersey City Reservoir, completed in 1904. In 1908, the waters from this reservoir were the first municipal water supply in the United States to be chlorinated.
During the 18th century, the settlement of Boonetown Falls (variously spelled as Booneton or the current Boonton) was established on the Rockaway River, about 1.5 miles downstream from the current site of the town. As early as 1747, Obadiah Baldwin ran an iron refining forge there. He used the iron ore and charcoal available in the area together with water power from the river. As the ironworks grew, workers and their families formed a community in 1761 that was named "Boone-Towne" in honor of the Colonial Governor, Thomas Boone.
The present town developed separately from the settlement of Booneton Falls. The population moved away after 1830, when a canal was completed that drew off business and traffic. The site of Old Boonton downriver has been covered since 1903 by the Jersey City reservoir formed on the dammed river.
Boonton had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.
Bank History
- Organized January 17, 1890
- Chartered March 28, 1890
- Bank was Open past 1935
- Absorbed by Trust Company of Morris County, Morristown, NJ in February 1967
In December 1900, the plans for the new Boonton National Bank building were in the hands of a contractor. The building would be of brick and stone[1] at a reported cost of $20,000.[2]
On Tuesday, January 15, 1901, at the annual meeting of stockholders the following directors were elected: Edmund A. Backer, Nathan L. Briggs, John H. Capstick, Andrew L. Cobb, Melvin S. Condit, Frank E. Morse, Enoch Hammonds, Fred Gordon, Joshua S. Salmon, John S. Schultze, and William H. Temple.[3] In March John H. Capstick, president of the Boonton National Bank was one of the incorporators of the Montclair Trust Company.[4] In September 1901, Clifford Dixon of Rockaway Valley became an employee of the Boonton National Bank.[5]
In April 1902, the Boonton National Bank was now located in its new building.[6] On Tuesday, May 6, 1902, Representative Joshua S. Salmon of the Fourth Congressional District of New Jersey died suddenly at his home in Boonton. Mr. Salmon was 56 years old and was serving his second term in Congress as a Democrat. He was born near Mt. Olive, Morris County, on February 2, 1846 and was a lawyer by profession. He had been one of the directors of the Boonton National Bank since its organization in 1890. In 1876 he was elected a member of the city council of Boonton and held that office for six years. In 1877 he was elected a member of the house of assembly. He was the Democratic candidate for state senator in 1883. He was elected to Congress in 1898 and re-elected in 1900.[7]
In January 1903, the stockholders elected the following directors for the ensuing year: John H. Capstick, John E. Schultz, Nathan L. Briggs, Frank E. Morse, Frederick Gordon, Edmund A. Backer, Thomas E. Capstick, Monroe Howell, Gibson N. Vincent, Charles A. Norris, and Henry Ball.[8] The directors elected the following officers: Monroe Howell, president; Nathan L. Briggs, vice president; Edwin A. Fisher, cashier. Of the board of directors elected, the following did not qualify: John H. Capstick, Thomas Capstick, and Edmund A. Backer.[9] In February the comptroller's office announced the following changes for the Boonton National Bank: Monroe Howell, president in place of John H. Capstick; N.L. Briggs, vice president in place of John H. Schultze; E.A. Fisher, cashier in place of Melvin S. Conduit; no assistant cashier in place of E.A. Fisher.[10]
In January 1928, former mayor Henry G. Rolston was re-elected president of the Boonton National Bank. Other officers re-elected were: John B. Howell, vice president; E.A. Fisher, cashier; J.P. Kelley and E.J. Hubbins, assistant cashiers.[11]
On Monday, January 14, 1935, Clifford G. Dixon was re-elected president; Dudley B. Dawson and John B. Howell, vice presidents; Edwin A. Fisher, cashier; Edgar J. Hobbins and James P. Kelley, assistant cashiers.[12]
In January 1936, Edwin A. Fisher, cashier of the Boonton National Bank for 38 years retired at the annual re-organization of the bank. He remained a director, dropping most of his active banking work. The stockholders presented him with a set of embossed resolutions. He started in banking at the Greenwich Bank in New York City. He served two terms as president of the Morris County Banking Association and was instrumental in organizing the Boonton Building and Loan Association of which he remained president. He was born in Boonton 70 years ago. The following directors were elected: Warren H. Baldwin, Dudley B. Dawson, Clarence A. De Camp, Clifford G. Dixon, Homer W. Dixon, Edwin A. Fisher, John B. Howell, Charles A. Norris, Jr., and George W. Ross.[13]
On Monday morning, April 7, 1958, a theft was discovered when the janitor opened the Boonton National Bank at 612 Main Street. Thieves forced open the depository vault and took an undisclosed amount of money estimated at between $500 and $600 based on other weekend deposits. Police said they drilled into the vault to force it open during the weekend.[14]
In January 1960, Melville S. Newcomb was re-elected president of the Boonton National Bank. Also re-elected were Homer W. Dixon and Samuel W. Brown, vice presidents; Louis a. Curcio, cashier; John L. Komenyak, Miss Phyllis Aurigemma, and Mrs. Ruth Waarst, assistant cashiers.[15]
In January 1967, the Trust Company of Morris County reported total assets as of the close of 1966 of $122,178,283. James D. Elleman was president. The bank had offices in Morristown, Madison, Denville, Florham Park, Morris Plains, Chester, Morris Township, and New Vernon.[16] In February 1967, the Boonton National Bank of Parsippany-Troy Hills and the Trust Company of Morris County consolidated to become Trust Company National Bank with resources of well over $140 million and 15 branch offices.[17]
On Wednesday, September 20, 1978, John B. Howell, 86, died in Riverside Hospital. Born in Boonton he was a life-long resident of the town. He retired in 1956 as vice president of the Boonton National Bank after 36 years of service there. A graduate of Cornell University, he served in the Army during World War II.[18]
Official Bank Title
1: The Boonton National Bank, Boonton, NJ
Bank Note Types Issued
A total of $606,120 in National Bank Notes was issued by this bank between 1890 and 1935. This consisted of a total of 59,564 notes (52,748 large size and 6,816 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 - 4000 1882 Brown Back 3x10-20 1 - 1200 1882 Date Back 4x5 1 - 520 1882 Date Back 3x10-20 1 - 295 1902 Date Back 3x10-20 1 - 2850 1902 Plain Back 3x10-20 2851 - 7172 1929 Type 1 6x10 1 - 694 1929 Type 1 6x20 1 - 186 1929 Type 2 10 1 - 1231 1929 Type 2 20 1 - 305
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1890 - 1935):
Presidents:
- James M. Holmes, 1890-1890
- George Walker Jenkins, 1891-1892
- John Henry Capstick, 1893-1902
- Monroe Howell, Sr., 1903-1911
- Richard Platt Messiter, 1912-1913
- Monroe Howell, Sr., 1914-1917
- Charles A. Norris, 1918-1924
- Henry G. Rolston, 1925-1933
- Clifford Gordon Dixon, 1934-1935
Cashiers:
Other Known Bank Note Signers
Bank Note History Links
Sources
- Boonton, 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
- ↑ The Morris County Chronicle, Morristown, NJ, Fri., Dec. 7, 1900.
- ↑ The Morris County Chronicle, Morristown, NJ, Fri., Mar. 29, 1901.
- ↑ The Morris County Chronicle, Morristown, NJ, Fri., Jan. 18, 1901.
- ↑ The Morris County Chronicle, Morristown, NJ, Fri., Mar. 8, 1901.
- ↑ The Morris County Chronicle, Morristown, NJ, Fri., Sep 6, 1901.
- ↑ The Morris County Chronicle, Morristown, NJ, Fri., Apr. 4, 1902.
- ↑ The Morning Call, Paterson, NJ, Wed., May 7, 1902.
- ↑ The Morris County Chronicle, Morristown, NJ, Fri., Jan. 23, 1903.
- ↑ The Morris County Chronicle, Morristown, NJ, Fri., Jan. 30, 1903.
- ↑ Courier-Post, Camden, NJ, Wed., Feb. 18, 1903.
- ↑ The Morning Call, Paterson, NJ, Tue., Jan. 17, 1928.
- ↑ The Morning Call, Paterson, NJ, Wed., Jan. 16, 1935.
- ↑ The Morning Call, Paterson, NJ, Wed., Jan. 15, 1936.
- ↑ The Star-Ledger, Newark, NJ, Tue., Apr. 8, 1958.
- ↑ The News, Paterson, NJ, Thu., Jan. 21, 1960.
- ↑ Bernardsville News, Bernardsville, NJ, Thu., Jan. 12, 1967.
- ↑ Madison-Florham Park Eagle, Madison, NJ, Thu., Feb. 2, 1967.
- ↑ Daily Record, Morristown, NJ, Fri., Sep. 22, 1978.