Caledonia National Bank, Danville, VT (Charter 1576)
Caledonia National Bank, Danville, VT (Chartered 1865 - Closed (Merger) 1992)
Town History
Danville is a town in Caledonia County, Vermont. Danville was established on October 31, 1786, by the Vermont Legislature, making it one of the last towns to be created in Caledonia County. A Debtors' prison was located here in the late 18th to the early 19th centuries. The population was 2,335 at the 2020 census. In 1860 the population was 2,544, decreasing to 1,494 by 1920.
The town was named for the 18th-century French cartographer Jean Baptiste Bourguignon d'Anville.
Danville had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.
Bank History
- Organized May 4, 1865
- Chartered October 7, 1865
- Succeeded Bank of Caledonia
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Merged into First National Bank of Vermont in Bradford, VT, July 1, 1992
On Friday, November 5, 1824, the bill to incorporate the President, Directors & Co. of the Bank of Caledonia was sent down from the Governor and Council. The bill was read when Mr. Hutchinson of Woodstock motioned to dismiss the bill. After several motions and a point of order referred to the speaker, the question was then put, shall the bill be dismissed? The yeas were 81, nays 87, so the bill was ordered to be read the second time the next day.[1]
In November 1825, abbreviated debates on the bank question were published in the Sentinel and Democrat, still taking two columns of that paper. For three years the people of Caledonia County had been petitioners for a bank. The county was entirely out of reach of a bank of their own state and their currency chiefly consisted of the paper of another state in which they had little confidence. The bill to incorporate the Bank of Caledonia was proposed for a third reading and Mr. Paddock of St. Johnsbury rose and moved that the bill be referred to the next session. The principle motive was that improvement of the navigation of the Connecticut River to extend steam boat navigation to Caledonia County might make the center of commerce a new river town. Danville at the time was the most populous and wealthy village in the county, but was in the interior of the county. Remarks of Mr. Bell embraced all the minutia of the subject and had a powerful effect on the House. He closed with a remark on a statement made by the gentleman from Woodstock that a bank established at Montpelier would supply the wants of part of those who would be supplied by an institution at Danville; and asked if the rule would not also operate the other way? Whether a bank at Danville would not also supply a great portion of the country which would be accommodated by the bank of Montpelier? The House adjourned.[2]
On November 29, 1825, it was reported that Acts had passed to incorporate the president, directors and company of the Bank of Montpelier; Bank of St. Albans; and Bank of Caledonia.[3] Books for receiving subscriptions for the capital stock of the Bank of Caledonia were opened at the inn of Marmaduke Wait in Danville on January 31, 1826. The Commissioners were John W. Chandler, Israel P. Dana, Augustine Clarke, Luther Clark, Samuel Sias, and Ephraim Paddock.[4]
In February 1827, the directors were Augustine Clarke, John W. Chandler, Josiah Shedd, William Baxter, Benjamin F. Deming.[5] Augustine Clarke was president and the keeper of a general store. Zebina Newell was the cashier.[6]
On Mar. 9, 1835, John Herren, entrusted with about $24,000 by the Caledonia bank at Danville to be deposited in the Globe Bank was attacked by two men in the town of Woburn and robbed. However, some words dropped by him led to his detection and proved him to be the robber. About $13,000 was found by his direction secreted in the woods at Woburn. He said a friend of Woburn had the rest of the money, but when brought to this city on Saturday to identify the friend, he escaped from the officer in charge. A. Clarke, president of the Caledonia Bank offered a $500 reward for the apprehension of Herren and recovery of the money, or $250 for Herren alone.[7]
On June 17, 1841, in Montpelier, Hon. Augustine Clarke, 62, deceased, late Treasurer of the State of Vermont. Vermont Chronicle, Bellows Falls, VT, Wed., June 23, 1841. Mr. Clarke was an officer of the Bank of Montpelier and president of the Bank of Caledonia.
In March 1856, at a meeting of the board of directors, Hon. Samuel B. Mattocks tendered his resignation as cashier of the bank and G.A. Burbank, Esq. was appointed in his stead. The vacancy in the board was filled by the election of Hon. C.S. Dana. Mr. Mattocks intended to make Lyndon his residence where he would be cashier of the Lyndon Bank.[8]
Bank officers for 1858 were L.H. Delano, E. Alexander, Moses Kittridge, Orra Crosby, B.N. Davis, directors. L.H. Delano was president, G.A. Burbank, cashier. A dividend of 3% was declared.[9] On March 8, 1858, Zebina Newell, Esq. of Keene, New Hampshire, some years since the cashier of the Bank of Caledonia, while clearing ice from his door-yard, became unconscious and died shortly thereafter. Mr. Newell, 59, was president of the Cheshire County Bank and a former cashier of the Bank of Newbury.[10][11]
On January 30, 1861, stockholders elected the following directors: Lewis H. Delano, and Orra Crosby of Harwick; B.N. Davis of Danville; Joseph Lance of Cabot; and Jno. C. Goodenough of Peacham. At a meeting of directors afterwards, Lewis H. Delano, Esq., was re-elected president and G.A. Burbank, Esq., cashier.[12]
In December 1898, C.H. Mattocks was visiting his brother Samuel Mattocks in Hastings, Nebraska, for the winter where he hoped to regain his health. H.C. Bond of St. Johnsbury would act as cashier during his absence.[13]
In January 1899, the officers elected were H.S. Tolman of Greensboro, president; Geo. E. Davis, vice president; T.H. Lance, Cabot, F.B. Stocker, and Peter Wesson, directors. C.H. Mattocks continued as cashier and H.C. Bond as assistant cashier.[14] In July 1899, Mr. Bond's assistance was needed in the Peoples National Bank of Swanton during Cashier E.D. Worthen's absence.[15]
On March 20, 1926, The officers were B.G. Rogers of Cabot, president; A.E. Tolman of Greensboro, vice-president; W.A. Ricker of St. Johnsbury; P.S. Rogers of Marshfield; B.L. Gadley of St. Johnsbury; M.V.B. Dow of Danville; and Asa Wesson of Danville, directors. The office force included Asa Wesson, cashier; Mrs. L.B. Wesson, assistant cashier; Earle H. Fisher, teller; Mrs. Bessie T Howe, bookkeeper; Miss Thelma P. Hebb, stenographer. The Caledonia National Bank at Danville had entered upon a new chapter in its history as it entered its new and spacious building. It had the distinction of being the third oldest bank in the state, having been chartered in 1825 and having just celebrated is 100th anniversary. Although from its founding, it had steadily grown and enlarged, it underwent remarkable development during the last two decades. About 15 years ago it outgrew the one corner room in the building which it had been occupying and it became necessary to remodel the house and enlarge the office. But it soon again outgrew its quarters and again there was a remodeling, this time the entire front of the building was devoted to the banking rooms. Recently, the need for more working space was urgently felt and after careful deliberation the management thought it best to build a new building devoted to and especially planned for the best convenience of its patrons and its office force. With this in view, the directors visited other banks finally deciding that the First National Bank at Peterborough, New Hampshire, came the nearest to fulfilling their needs. Therefore, plans for the new building were modelled after it. The architects were Hutchins and French, Boston, Massachusetts, and the work was supervised by R.C. Pitcher. The builders were the Rowe Construction Company of Woodsville, New Hampshire. The building was located on the south side of the Roosevelt Highway on land purchased from the Ladies’ Library Association and was built in a style that harmonized perfectly with the nearby library building. It was a one-story building, 28 by 50 feet, built of brick with trimmings of composite stone at a cost of over xxxyyy ser $40,000. Over the door were the words “Caledonia National Bank.” The main entrance opened into a small vestibule which in turn opened on the right into the public room. The floor of these two rooms was of Tennessee marble. Along the west side of this public room between the two large windows was a customers’ desk of heavy plate glass beneath which were compartments containing deposit slips, checks, and various other blank forms. At the left of the entrance was a small room used for consultations. South of the vestibule and consultation room and opening both into the latter and into the public room was the officers’ space. Next on the south was the working space, 22 by 14 feet, fitted with all the most modem equipment. To the rear was a toilet room and then in the south east corner a small, but light and airy auditor’s room, which when not in use, was a quiet place of retirement for any clerk busy with some especially exacting piece of work. In the rear of the building to the west of the auditor’s room was the vault. This was installed by the Herring-Hall-Marvin Safe Company of Hamilton, Ohio, the same company which years ago installed the first steel chest used by the Caledonia National Bank.[16] The vault was a part of the safe deposit department which comprised all the southwest section of the building. All of the working part of the building had a floor covering of battleship linoleum, easy for use and durable. The height of the main rooms was 17 feet six inches; the walls were a light buff with a ceiling of white giving a pleasing and restful effect, orinoka draperies at all the windows harmonized with the color scheme; the finish was of mahogany, highly polished. On the south wall was a beautiful clock, presented by the vice president, A.E. Tolman of Greensboro, in memory of his father, the late Judge Henry S. Tolman who was formerly president of the bank. Two chandeliers of antique iron and gold suspended from each a circle of frosted balls, shed a soft and mellow light. There were smaller chandeliers that carried out the same scheme of antique iron and gold and supporting candles bearing frosted balls.[17]
Official Bank Title(s)
1: The Caledonia National Bank of Danville, VT
Bank Note Types Issued
A total of $2,720,360 in National Bank Notes was issued by this bank between 1865 and 1935. This consisted of a total of 379,549 notes (331,816 large size and 47,733 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments Original Series 3x1-2 1 - 4650 Original Series 4x5 1 - 5125 Original Series 3x10-20 1 - 1100 Series 1875 3x1-2 1 - 250 Series 1875 4x5 1 - 3400 Series 1875 3x10-20 1 - 920 1882 Brown Back 4x5 1 - 13296 1882 Brown Back 3x10-20 1 - 2571 1902 Red Seal 4x5 1 - 3750 1902 Red Seal 3x10-20 1 - 2800 1902 Date Back 4x5 1 - 7350 1902 Date Back 3x10-20 1 - 5880 1902 Plain Back 4x5 7351 - 26898 1902 Plain Back 3x10-20 5881 - 18194 1929 Type 1 6x5 1 - 4108 1929 Type 1 6x10 1 - 1834 1929 Type 1 6x20 1 - 488 1929 Type 2 5 1 - 5038 1929 Type 2 10 1 - 3210 1929 Type 2 20 1 - 905
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1935):
Presidents:
- Orra Crosby, 1865-1874
- Bliss Nash Davis, 1875-1878
- Samuel Ingalls, 1879-1881
- Newell Stocker, 1882-1882
- James W. Simpson, 1883-1886
- John Adams Farrington, 1887-1889
- Henry Stanley Tolman, 1890-1904
- Peter Wesson, 1905-1920
- Beauman George Rogers, 1921-1935
Cashiers:
Other Known Bank Note Signers
Bank Note History Links
Sources
- Danville, VT, 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
- ↑ Vermont Gazette, Bennington, VT, Tue., Nov 23, 1824.
- ↑ Sentinel and Democrat, Burlington, VT, Fr., Nov. 4, 1825.
- ↑ Woodstock Observer, and Windsor and Orange County Gazette, Woodstock, VT, Tue., Nov. 29, 1825.
- ↑ North Star, Danville, VT, Tue., Jan. 10, 1826.
- ↑ North Star, Danville, VT, Tue., Feb. 6, 1827.
- ↑ The Caledonian-Record, St. Johnsbury, VT, Sat., Mar. 20, 1926.
- ↑ Vermont Gazette, Bennington, VT, Tue., Mar. 24, 1835.
- ↑ North Star, Danville, VT, Sat., Mar. 22, 1856.
- ↑ North Star, Danville, VT, Sat., Feb. 6, 1858.
- ↑ The St. Johnsbury Caledonian, St. Johnsbury, VT, Sat., Apr. 10, 1858.
- ↑ The Burlington Free Press, Burlington, VT, Sat., Mar. 20, 1858.
- ↑ The St. Johnsbury Caledonian, St. Johnsbury, VT, Fri., Feb. 8, 1861.
- ↑ The St Johnsbury Caledonian, St. Johnsbury, VT, Wed., Dec. 28, 1898.
- ↑ St. Johnsbury Republican, St. Johnsbury, VT, Wed., Jan. 11, 1899.
- ↑ Swanton Courier, Swanton, VT, Thu., July 13, 1899.
- ↑ The Caledonian-Record, St. Johnsbury, VT, Sat., Mar. 20, 1926.
- ↑ The Caledonian-Record, St. Johnsbury, VT, Sat., Mar. 20, 1926.