Carnegie National Bank, Carnegie, PA (Charter 6174)
Carnegie National Bank, Carnegie, PA (Chartered 1902 - Open past 1935)
Town History
Carnegie is a borough in Allegheny County, Pennsylvania, and is part of the Pittsburgh metropolitan area. The population was 7,972 in the 2010 census.
Carnegie is named after Andrew Carnegie, who donated one of his libraries for the gesture. It was incorporated on March 1, 1894, from the boroughs of Chartiers and Mansfield (separated by Chartiers Creek). Later, the borough annexed part of Robinson Township (now Rosslyn Heights). Neighborhoods include Rosslyn Heights, Cubbage Hill, Irishtown, Forsythe Hill, Library Hill, and Old Mansfield.
Many neighborhoods were at one time or another mined for coal. The main employers were steel mills such as Superior Steel & Union Electric Steel. Carnegie had a rail yard that had connections to several railroads early in the twentieth century, including the Wabash Pittsburgh Terminal railroad, and the Pennsylvania Railroad.
Carnegie had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes. The banks were First National Bank of Chartiers/Carnegie, (Charter 4762), the Carnegie National Bank (Charter 6174), and the Union National Bank of Carnegie (Charter 12934).
Bank History
- Organized March 13, 1902
- Chartered March 27, 1902
- Succeeded Burgan Bank (1874-1902)
- Opened for business April 10, 1902
- Bank was Open past 1935
In February 1902, the comptroller of the currency approved the application of R.P. Burgan, Oswald Ende, J.M. Stoneroad, Charles Sossong, Joseph McCabe and others to organize the Carnegie National Bank of Carnegie.
On March 20, 1902, stockholders of the Carnegie National Bank elected directors as follows: J.B. Hanna, George Faunce, Charles Sossong, J.T. Stoneroad, J.A. Reese, J.E. McCabe, George Gow, and George Rome. The directors then met and elected officers as follows: R.P. Burgan, president; E.M.S. Young, vice president; Oswald Ende, secretary; J.C Stauffer, cashier. At the meeting it was decided to take in an adjoining storeroom for bank purposes as the present quarters were too crowded for the growing business of the bank. On March 27, the Comptroller of the Currency authorized the Carnegie National Bank to commence business with capital of $100,000. On Thursday, April 10th, the bank opened its doors for business in the building purchased from R.P. Burgan. Jay C. Stauffer, formerly of Jeannette, cashier, was assisted by James A. Waldie.
On Tuesday, January 14, 1908, stockholders elected directors as follows: George Gow, George Rome, Charles Sossong, Joseph F. Hedges, R.P. Burgan, Edward F. Portman, George Faunce, J.T.M. Stoneroad, O.R. Cooke, J.B. Hanna, and John F. Zugschwert.
In May 1911, paying a compliment to the officer who had arrested him, R.P. Burgan, president of the Carnegie National Bank and the Carnegie Coal Company, paid a fine of $10 assessed by Justice of the Peace U.G. Murray of Oakdale. Burgan was charged with driving through the borough on Sunday the 21st in an automobile at a rate exceeding 12 miles an hour.
On January 13, 1914, R.P. Burgan, A.B. Hanna, Joseph F. Hedges, George Rome, Charles Lossone, George Faunce, Edward F. Portman, John F. Vugschwert, A.G. Keister, Thomas P. Poscoe, and James H. Duff.
On March 29, 1920, Robert P. Burgan, aged 78, president of the Carnegie National Bank and a leading figure in mining and banking circles in Western Pennsylvania, died in his home at 205 Fifth Avenue, Carnegie. His wife and son had died within the previous two months. Mr. Burgan was president also of the Carnegie Lead and Zinc Company, the Calumet and Sonora Mining Company, Mexico, and former president of the Carnegie Coal Company and the Chartiers Coal and Coke Company. He formerly was a director m the Allouez Mining Company of Michigan and was interested in copper, gold and silver mines in numerous states. Mr. Burgan served as burgess of Carnegie one term. He was born in Cornwall, England, June 3, 1842, and was educated in the Baldiu National School there After leaving school he engaged in cabinet making and building, following: this occupation until he came to America in 1861. He worked in the copper fields of Michigan one year and came to Pittsburgh in 1865. Mr. Burgan assisted in building the old Union Station of the Pennsylvania Railroad and the grain elevator nearby. In 1866 he went to Carnegie, then Mansfield, as a contractor; he built the Grant Coal Company works and the Fort Pitt Company plant. Soon after he built a planing mill which he operated until 1874 when he established the first bank of the borough. It was operated as Burgan's Bank, until 1902 when it became a national institution and its founder was made president. In 1900 Mr. Burgan formed the Carnegie Coal Company and two years later the Chartiers Coal and Coke Company. At that time he. also maintained a box factory at Jeannette, Pa. He retired from the presidency of the coal company three years ago. Mr. Burgan was a life member of the Carnegie Free Library Commission and a trustee of Carnegie branch, Carnegie Library. He also was active in numerous social and charitable organizations and institutions. In 1866 he married Miss Elizabeth Waldie who died in January. He was survived by a daughter, Mrs. Anna Mary Cole of Shreveport, La.; a brother, John H. Burgan of Carnegie, and a sister, Mrs. Mary Stevens of England; six grandchildren and a great grandchild.
In January 1924, the directors were E.J. Cole, James H. Duff, George Faunce, Charles H. Forster, Joseph F. Hedges, H.S. Kane, A.D. Keister, Thomas C. Pascoe, E.F. Portman George Rome and William H. Shinn.
On February 10, 1937, George Faunce, president of the Carnegie National Bank and civic and industrial leader, died yesterday at his home, 525 Chestnut St., Carnegie. He was 78. Born in Kingston, Mass., in 1879, Mr. Faunce was a graduate of Harvard University and Massachusetts Institute of Technology. He came to Carnegie as a metallurgist for the Pennsylvania Lead Company in 1882 and six years later helped organize the Pennsylvania Smelting Company of which he was president. Mr. Faunce was a trustee of the Carnegie Library, director of the Fidelity Building and Loan Association and treasurer of the Carnegie Red Cross. He was survived by three daughters, Mrs. John C. Bigham of Carnegie, Mrs. Raymond Helem of Rosslyn Farms, and Mrs. J.W. Thompson of Pittsburgh; a son, George, Jr., of Rye, NY; a sister, Miss Bertha Faunce of Kingston, and nine grandchildren.
Official Bank Title(s)
1: The Carnegie National Bank, Carnegie, PA
Bank Note Types Issued
A total of $1,939,080 in National Bank Notes was issued by this bank between 1902 and 1935. This consisted of a total of 155,985 notes (129,056 large size and 26,929 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 3x10-20 1 - 3140 1902 Date Back 3x10-20 1 - 10200 1902 Plain Back 3x10-20 10201 - 17900 Plate dated 1902 1902 Plain Back 3x10-20 1 - 11224 Plate dated 1922 1929 Type 1 6x10 1 - 3146 1929 Type 1 6x20 1 - 824 1929 Type 2 10 1 - 2394 1929 Type 2 20 1 - 715
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1902 - 1936):
Presidents:
- Robert Paul Burgan, 1902-1919
- George Faunce, 1920-1935
Cashiers:
- Jay C. Stauffer, 1902-1906
- Frank Dearborn Lovering, 1907-1908
- Isaac Jackson, 1909-1911
- Arthur William Schreiber, 1912-1931
- Edwin Jay Cole, 1932-1935
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Pennsylvania Bank Note History
- General information on Carnegie (Wikipedia)
- General information on Allegheny County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Carnegie, PA, Wikipedia, https://en.wikipedia.org/wiki/Carnegie,_Pennsylvania
- 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
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., Feb. 5, 1902.
- The Pittsburgh Press, Pittsburgh, PA, Fri., Mar. 21, 1902.
- Pittsburgh Daily Post, Pittsburgh, PA, Fri., Mar. 28, 1902.
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., Jan. 15, 1908.
- The Daily Notes, Canonsburg, PA, Fri., May 26, 1911.
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., Jan. 14, 1914.
- Pittsburgh Post-Gazette, Pittsburgh, PA, Tue., Mar., 20, 1920.
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., Jan. 9, 1924.
- The Pittsburgh Press, Pittsburgh, PA, Thu., Feb. 11, 1937.