Bunker Hill National Bank/Bunker Hill NB of Charlestown, Boston, MA (Charter 635)

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Bunker Hill Bank, Charlestown, Haxby MA-470, Obsolete $1 with signatures of Geo. E. Lincoln, Cashier and President Edward Lawrence, dated June 17, 1858. The American Banknote Company used red, green, and black inks to print this note with a central vignette of the presentation of the Declaration of Independence as its center vignette. At lower right, a woman with pail guides a cow and sheep with a duck and chicks at their feet
Bunker Hill Bank, Charlestown, Haxby MA-470, Obsolete $1 with signatures of Geo. E. Lincoln, Cashier and President Edward Lawrence, dated June 17, 1858. The American Banknote Company used red, green, and black inks to print this note with a central vignette of the presentation of the Declaration of Independence as its center vignette. At lower right, a woman with pail guides a cow and sheep with a duck and chicks at their feet.  Courtesy of Heritage Auctions, www.ha.com

Bunker Hill National Bank/Bunker Hill NB of Charlestown, Boston, MA (Chartered 1864 - Liquidated 1906)

Town History

Charlestown is the oldest neighborhood in Boston, Massachusetts. Also called Mishawum by the Massachusett, it is located on a peninsula north of the Charles River, across from downtown Boston, and also adjoins the Mystic River and Boston Harbor waterways. Charlestown was laid out in 1629 by engineer Thomas Graves, one of its earliest settlers, during the reign of Charles I of England. It was originally a separate town and the first capital of the Massachusetts Bay Colony.

Charlestown became a city in 1848 and was annexed by Boston on January 5, 1874. With that, it also switched from Middlesex County, to which it had belonged since 1643, to Suffolk County. It has had a substantial Irish-American population since the migration of Irish people during the Great Irish Famine of the 1840s. Since the late 1980s, the neighborhood has changed dramatically because of its proximity to downtown and its colonial architecture.

Boston is the capital and most populous city of the Commonwealth of Massachusetts and 24th-most populous city in the U.S. The city proper covers about 48.4 square miles with a population of 675,647 in 2020, also making it the most populous city in New England. It is the seat of Suffolk County (although the county government was disbanded on July 1, 1999). The city is the economic and cultural anchor of a substantially larger metropolitan area known as Greater Boston, a metropolitan statistical area (MSA) home to a census-estimated 4.8 million people in 2016 and ranking as the tenth-largest MSA in the country. A broader combined statistical area (CSA), generally corresponding to the commuting area and including Providence, Rhode Island, is home to some 8.2 million people, making it the sixth most populous in the United States.

Boston is one of the oldest municipalities in the United States, founded on the Shawmut Peninsula in 1630 by Puritan settlers from the English town of the same name. It was the scene of several key events of the American Revolution, such as the Boston Massacre, the Boston Tea Party, the Battle of Bunker Hill, and the siege of Boston. Upon American independence from Great Britain, the city continued to be an important port and manufacturing hub as well as a center for education and culture. The city has expanded beyond the original peninsula through land reclamation and municipal annexation. Its rich history attracts many tourists, with Faneuil Hall alone drawing more than 20 million visitors per year. Boston's many firsts include the United States' first public park (Boston Common, 1634), first public or state school (Boston Latin School, 1635), first subway system (Tremont Street subway, 1897), and first large public library (Boston Public Library, 1848).

Today, Boston is a thriving center of scientific research. The Boston area's many colleges and universities make it a world leader in higher education, including law, medicine, engineering and business, and the city is considered to be a global pioneer in innovation and entrepreneurship, with nearly 5,000 startups. Boston's economic base also includes finance, professional and business services, biotechnology, information technology and government activities.

Charlestown had two National Banks, the Bunker Hill National Bank (635) and the Monument National Bank (1005), chartered during the Bank Note Era and both banks are included in the count for Boston. Boston had 84 National Banks chartered during the Bank Note Era, and 75 of those banks issued National Bank Notes. Boston also had 63 Obsolete Banks that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).

Bank History

  • Organized December 9, 1864
  • Chartered December 20, 1864
  • Succeeded Bunker Hill Bank
  • 2: Assumed 1005 by consolidation Jun 29, 1905 (Monument National Bank, Boston, MA)
  • 2: Liquidated April 23, 1906
  • 2: Absorbed by City Trust Company, Boston

The Bunker Hill Bank was organized in 1825.[1]

On Thursday night, February 18, 1830, an attempt was made to rob the Bunker Hill Bank in Charlestown Square, but the robber or robbers obtained only $22 1/2 for their night's work. This sum was in the cashier's desk and belonged to the Charlestown Reading Room on the first floor. Apparently the robbers secreted themselves in the third story of the building and at night bored through a door into the bank in which the key was left in the lock inside, the people of the bank going out by another door. The robbers could make no impression upon the vaults. Unable to force the front door, the escape was made using a bed cord from a bank window on the third story. The directors offered a $500 reward for the detection of the robbers.[2]

At about six o'clock Tuesday afternoon, August 25, 1835, a disastrous fire broke out in Charlestown, starting in a wooden building tenanted by an Irish family on Main Street near the old bridge. Owing to a deficiency of water the fire could not be checked and before two hours had elapsed, half of Charlestown seemed in flames. All the buildings on Main Street as far as the Salem Turnpike including the Middlesex Hotel, Walkers's Hotel, several stores, Rice's jewelry store, all the wooden buildings leading to the Navy Yard as far as the creek, were destroyed. Mr. Tamplin's Chase and Carriage Manufactory was destroyed while the building next door occupied by the Bunker Hill Bank and the Charlestown Reading Room was saved.[3] The loss of property was estimated at from $150,000 to $200,000 with insurance of over $100,000.[4]

On Monday, October 6, 1851, at the annual meeting of stockholders, the following were chosen directors: David Devens, president; Andrew Blanchard, Jr., Edward Lawrence, Daniel White, George A. Kettell, James Adams, Joseph Souther, W. Arnold, and T.T. Sawyer.[5]

In October 1855, at the annual meeting of the stockholders, the directors of the Bunker Hill Bank were re-elected. Geo. S. Adams, Esq., was chosen to fill the vacancy caused by the death of D. Devens, Esq. At a meeting of the directors held on October 2nd, Edward Lawrence, Esq., was unanimously elected president.[6]

In September 1861, Charlestown banks subscribed to the national loan with the Bunker Hill Bank taking $80,000 and the Monument Bank $10,000. The capital stock of the former was $300,000 and the latter $150,000.[7]

In January 1874, the directors were Edward Lawrence, James Adams, Timothy T. Sawyer, Joseph Souther, Nathan Tufts, George D. Edmands, F.M. Holmes, Charles O. Gage, and Oliver H. Hay.[8]

In February 1875, Mr. James Adams, Jr., cashier of the Bunker Hill National Bank resigned his position to accept a similar position in the Blackstone National Bank.[9] Mr. Charles R. Lawrence, son of the Hon. Edward Lawrence, president of the bank, was chosen cashier to fill the vacancy.[10] Mr. Frank J. Bartlett was appointed receiving teller, vice Mr. A.W. Edmands, promoted.[11]

On February 22, 1875, Hon. Edward Lawrence who was connected with the bank since before 1845, invited directors and a few personal friends to dine with him at his residence on High Street. Before the company rose from the table, some very interesting facts and particulars of the banking institution were read by the Hon. Timothy T. Sawyer, calling attention to the anniversary on which the gentlemen had met. A report of what was said would possess considerable interest as much of it was illustrative of history and social intercourse in the Charlestown community.[12]

In January 1900, the following were elected directors: C.R. Lawrence, president; T.T. Sawyer, Nelson Bartlett, Rhodes Lockwood, Marcus Beebe, John Turner, R.W. Hopkins, and A.C. Tufts.[13]

On May 27, 1905, the Monument National Bank of Charlestown which had been in business since 1855, first as a state and later as a national institution, was closed by a vote of the stockholders and placed in liquidation. The business would be taken over by the Bunker Hill National Bank, the banking interests of Charlestown having decided that business did not warrant the maintenance of two national banks.[14] The headquarters of the Bunker Hill National would remain at 21 City Square with Charles R. Lawrence remaining president and Frederick K. Brown, cashier. Cashier Warren Sanger of the Monument would become a vice president of the combined institution. On May 28, authority for the liquidation of the Monument National Bank was received from Washington. All the assets, books, and other property of the Monument bank were transferred to the rooms of the Bunker Hill bank after banking hours.[15] The Monument National had $150,000 capital, $120,000 surplus and deposits of $440,000. The Bunker Hill National had capital of $500,000, surplus of $450,000 and deposits of around $1,500,000.[16]

On Monday evening, September 4, 1905, Hon. Timothy T. Sawyer, for over fifty years a director of the Bunker Hill National Bank of Charlestown, died at his summer home at Magnolia. He was born in Charlestown on January 7, 1817, the son of William and Susannah (Thompson) Sawyer. His ancestors were among the earliest settlers in Massachusetts. One of them, James Thompson, came to Charlestown with Governor Winthrop's company in 1630. On his father's side, Thomas Sawyer settled in Lancaster in 1641. For 54 years he had been a directors of the Bunker Hill Bank and a trustee of the Warren Institution for savings nearly as long. In 1880 he was made president of the Warren Institution for Savings and in 1884 was elected president of the Bunker Hill National Bank. He retired on January 14, 1890 and was succeeded by Charles R. Lawrence. In December 1854, he was elected mayor of Charlestown and was re-elected in 1855, '56 and '57. After Charlestown became a city, Mr. Sawyer served several terms in the Common Council. In 1857, he was sent to the general court and in 1858 he was elected to the State Senate. For many years Mr. Sawyer presided over the Mystic Water board and after the cities of Charlestown and Boston were joined, he held the office until the Mystic and Cochituate water boards were made into the Boston water Board and was its chairman for the first three years. He was treasurer of the Bunker Hill Monument Association and for years was a trustee of Tufts College.[17]

A 1907 advertisement for the City Trust Company with headquarters at 50 State Street, Boston, and its Bunker hill Branch at City Square, Charleston. Capital and Surplus was $4,000,000. Officers are shown and may be found in the bank history section of this page.
A 1907 advertisement for the City Trust Company with headquarters at 50 State Street, Boston, and its Bunker hill Branch at City Square, Charleston. Capital and Surplus was $4,000,000.

On January 9, 1906, the directors elected were Nelson Bartlett, Irving S. Palmer, Marcus Beebe, Charles R. Lawrence (president), R.W. Hopkins, Charles F. Ryan, Clinton White, B.F. Wild, and George Whiting.[18]

The purchase of the Bunker Hill National Bank by the City Trust Company was closed the night of March 13, 1906. Only a few months earlier, the Bunker Hill had absorbed the Monument National Bank, formerly located in the Masonic Building, Thompson Square, Charlestown. The City Trust Co. paid cash for control with a plan to liquidate the bank and maintain a branch of the City Trust in Charlestown. The book value of the stock was better than $190 a share and it was understood the sale was made at $215 per share. The stock had been closely held by the family and personal friends of President Charles R. Lawrence, and had been paying 8% dividend per year.[19] The City Trust Company was organized in 1902 with a capital of $1,000,000.[20] The acquisition of the Bunker Hill bank gave the trust company an additional $2,000,000 of deposits, making the total deposits of the combined institution nearly $15 million.[21]

In June 1906, the City Trust Company purchased control of the Winthrop National Bank, paying $325 per share.[22]

Officers of the City Trust Company for 1907 were Philip Stockton, president; Charles F. Adams, 2d, vice president; Arthur Adams, vice president; George W. Grant, treasurer; George S. Mumford, secretary; Charles P. Blinn, Jr. and Frank C. Nichols, assistant treasurers; S. Parkman Shaw, Jr., and Percy D. Haughton, assistant secretaries; and Fred K. Brown, manager, Bunker Hill Branch.[23]

Official Bank Title(s)

1: The Bunker Hill National Bank of Charlestown, MA

2: The Bunker Hill National Bank of Charlestown, Boston, MA [12/10/1884]

Bank Note Types Issued

Original Series $5 bank note with pen signatures of J. Adams, Jr., Cashier and E. Lawrence, President.
Original Series $5 bank note with pen signatures of J. Adams, Jr., Cashier and E. Lawrence, President. Courtesy of Heritage Auctions, www.ha.com
Original Series $100 bank note with pen signatures of J. Adams, Jr., Cashier and E. Lawrence, President
Original Series $100 bank note with pen signatures of J. Adams, Jr., Cashier and E. Lawrence, President. Courtesy of Heritage Auctions, www.ha.com
Original Series $20 bank note with pen signatures of C.R. Lawrence, Cashier and E. Lawrence, President
Original Series $20 bank note with pen signatures of C.R. Lawrence, Cashier and E. Lawrence, President. Courtesy of Heritage Auctions, www.ha.com
1902 Red Seal $5 bank note with SN 1A and pen signatures of Fred K. Brown, Cashier and C.R. Lawrence, President
1902 Red Seal $5 bank note with SN 1A and pen signatures of Fred K. Brown, Cashier and C.R. Lawrence, President. Courtesy of the NBNCensus.com

A total of $2,293,700 in National Bank Notes was issued by this bank between 1864 and 1906. This consisted of a total of 296,492 notes (296,492 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
1: Original Series 3x1-2 1 - 9000
1: Original Series 4x5 1 - 11350
1: Original Series 3x10-20 1 - 9760
1: Original Series 50-100 1 - 1050
1: Series 1875 4x5 1 - 12409
1: Series 1875 3x10-20 1 - 7148
1: Series 1875 50-100 1 - 500
2: 1882 Brown Back 4x5 1 - 15641
2: 1882 Brown Back 3x10-20 1 - 6870
2: 1902 Red Seal 4x5 1 - 640
2: 1902 Red Seal 3x10-20 1 - 530

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1864 - 1906):

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

  • Boston, MA, on Wikipedia
  • Charlestown, MA, 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
  1. ↑ The Sun, New York, NY, Thu., Mar. 15, 1906.
  2. ↑ The Evening Post, New York, NY, Tue., Feb. 23, 1830.
  3. ↑ The Evening Post, New York, NY, Fri., Aug. 28, 1835.
  4. ↑ The Liberator, Boston, MA, Sat., Aug. 29, 1835.
  5. ↑ Boston Evening Transcript, Boston, MA, Mon., Oct. 13, 1851.
  6. ↑ Boston Evening Transcript, Boston, MA, Fri., Oct. 5, 1855.
  7. ↑ Boston Evening Transcript, Boston, MA, Fri., Sep. 6, 1861.
  8. ↑ Boston Evening Transcript, Boston, MA, Wed., Jan. 14, 1874.
  9. ↑ Boston Evening Transcript, Mon., Feb. 1, 1875.
  10. ↑ The Boston Globe, Boston, MA, Thu., Feb. 4, 1875.
  11. ↑ The Boston Globe, Boston, MA, Mon., Feb. 15, 1875.
  12. ↑ Boston Evening Transcript, Boston, MA, Thu., Feb. 25, 1875.
  13. ↑ Boston Evening Transcript, Boston, MA, Tue., Jan. 9, 1900.
  14. ↑ The Buffalo Commercial, Buffalo, NY, Sat., May 27, 1905.
  15. ↑ The Boston Globe, Boston, MA, Sun., May 28, 1905.
  16. ↑ Boston Evening Transcript, Boston, MA, Sat., May 27, 1905.
  17. ↑ Boston Evening Transcript, Boston, MA, Wed., Sep. 6, 1905.
  18. ↑ Boston Evening Transcript, Boston, MA, Mar. 14, 1906.
  19. ↑ Boston Evening Transcript, Boston, MA, Mar. 14, 1906.
  20. ↑ The New York Times, New York, NY, Thu., Mar. 15, 1906.
  21. ↑ The Lewiston Daily Sun, Lewiston, ME, Thu., Mar. 15, 1906.
  22. ↑ Boston Evening Transcript, Boston, MA, Sat., June 9, 1906.
  23. ↑ Boston Evening Transcript, Boston, MA, Tue., Dec. 31, 1907.
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