Carrollton National Bank, Carrollton, KY (Charter 3074)

1882 Brown Back $20 proof approved November 26, 1883. Courtesy of the Smithsonian Institution Archives

Carrollton National Bank, Carrollton, KY (Chartered 1883 - Receivership 1934)

Town History

Looking west along Main Street in Carrollton in 1883. The Courthouse was at extreme left while the law office of H.M. Winslow is at right.

Carrollton is a city in and the county seat of Carroll County, Kentucky, located at the confluence of the Ohio and Kentucky rivers. The population was 3,938 at the 2010 census. In 1880 the population was 1,332 growing to 2,409 by 1930.

Located in northern Carroll County, the city is situated on the Ohio River at the mouth of the Kentucky River. It is bordered by the city of Prestonville to the west across the Kentucky River. To the north, across the Ohio River, is Switzerland County, Indiana. U.S. Route 42 passes through the center of the community, leading northeast 54 miles to Cincinnati, Ohio, and southwest 55 miles to Louisville. Interstate 71 runs 4 miles south of the city roughly parallel to US 42, with access from Exit 44.

Carrollton was laid out in 1792 and it was known as Port William initially. It served as the county seat of Gallatin County until 1843 when the county was split, creating Carroll County. Port William was renamed Carrollton after Declaration of Independence signer Charles Carroll and became the seat of the new county. The town's first newspaper, the Carrollton Crier, was published in 1848. On September 3, 1863, during the Civil War, Confederates robbed the Southern Bank of Kentucky and were followed by the Union Army. Confederates also stole the sword of prominent resident William Orlando Butler, and he later caught up with the troops and retrieved it. The Louisville & Nashville Railroad was built near town in 1868 and eventually became more important to the town's economy than river traffic.

Carrollton's most severe flood was the Ohio River flood of 1937; floodwaters crested at 79.9 feet.

Carrollton had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.

Bank History

An 1880 announcement of the formation of John & J.B. Howe, successors to John Howe & Sons, merchant tailors, located at the corner of 3rd and Main Streets, Carrollton, Kentucky.

• Organized October 23, 1883
• Chartered November 10, 1883
• Succeeded John Howe & Sons
• Conservatorship March 20, 1933
• Receivership April 25, 1934

Mr. John Howe was born in County Fermanaugh, Northern Ireland, May 5, 1823 and passed away on Saturday, February 1, 1890. He learned the trade of a tailor and in 1847 with his wife and infant son, William, he came to American. After a brief stay in New York and Brooklyn, he steeled at Flemmingsburg, Kentucky, and after nine years of business, moved to a farm in Eastern Illinois. Sickness in the family and failure of crops induced him to see and return to Kentucky. So, in the spring of 1859 he located in Carrollton where he would remain until the end of his life. He began with the business of merchant tailoring, his specialty and pride. The business grew and new departments were added, but he never laid down his shears until just a few days before he died. In 1869 Mr. Howe bought an interest n the old woolen mill conducted by Bosworth & Wilson, building a fine new building for the mill in 1870 and in 1872 he became the sole proprietor. When he died he was senior member of the firm of Jno. & J.B. Howe, clothing, dry goods, etc. In 1875 the banking house of Jno. Howe & Sons was formed. It did a very successful business and in 1883 was merged into the Carrollton National Bank with Mr. Howe as one of the founders and its first vice president. On November 4, 1879, Mr. Howe married Mrs. Jane Bell of Carrollton.

On January 1, 1880, the co-partnership of John Howe & Sons, operating the Carrollton Woolen Mills and a Merchant Tailoring, Clothing and Dry Goods Store at Carrollton and a Dry Goods Commission Business at Cincinnati, was dissolved. John Howe and W.F. Howe, residing at Carrollton, and John T. Howe and Robt. J. Howe, residing at Cincinnati, would conduct the Carrollton Woolen Mills and the Wholesale Dry Goods Commission Business at No. 116 West Second Street, Cincinnati under the firm name of John & W.F. Howe & Co. John Howe and Jos. B. Howe would conduct the Merchant Tailoring, Clothing and Dry Goods House at Carrollton in the firm name of John & J.B. Howe. The old firm of John Howe & Sons would continue to do a Banking and Collection Business at Carrollton, as before. This firm was composed of John Howe, Wm. F. Howe, John I. Howe, Robt. J. Howe, and Jos. B. Howe.

On November 10, 1883, the comptroller of the currency, Jno. Jay Knox, authorized the Carrollton National Bank to commence the business of banking.

In January 1884, the bank bought the building in which they had been doing business, corner 5th and Main, to use as a banking house. Chasteen & Huhn, grocers, moved to the building occupied by W.A. Fishback's cigar factory on Main. Workmen began on the foundation for the vault and safe and the iron front would arrive as soon as the river opened. The report of condition at the close of business, March 7, 1884, showed total resources of $103,311, with capital stock paid in $51,430, undivided profits $1,479.67, National Bank notes outstanding $13,500, and individual deposits subject to check $36,356.33.

On Thursday, January 15, 1885, stockholders elected the following directors: H.M. Winslow, John Howe, John S. Gaunt, K.F. Bendorf, and O.W. Geier. James Goslee was elected assistant bookkeeper by the unanimous vote of the directors.

In January 1888, the stockholders elected the following directors: O.W. Geier, H.M. Winslow, L. Leachman, L.C. Webster, and S.W. Davis. H.M. Winslow was re-elected president and D.N. Vance was re-elected cashier.

In January 1902, George Winslow was elected president of the Carrollton National Bank, succeeding his brother Henry Winslow who moved to Knoxville, Tennessee.

In January 1907, the officers elected were George B. Winslow, president; O.W> Geier, vice president; D.M Bridges, cashier; James G. Goslee, assistant cashier; L.S. Rings, bookkeeper. The directors were G.B. Winslow, O.W. Geier, William McCrackin, T.J. Handlow, G.H. Conway, Bartlett Searcy, Charles Schumeier, C.C. Coghill, and R.T. Cox.

On Sunday, September 5, 1909, D.M. Bridges, cashier of the Carrollton National Bank, passed away after an illness dating back several months. He was the son of John Bridges, his mother's maiden name being Eliza Ellis. His father lived to be a very old man and was a veteran of the War of 1812. D.M. Bridges was born in Henry County in 1837, his father moving at an early day to Ghent where his life was spent to the spring of I883, at which time he moved to Carrollton. In October 1859, he was married to Miss Mary Reed of Covington. For two terms he served as deputy sheriff and two terms as high sheriff of Carroll County. His success as sheriff was phenomenal and he went out of office more popular than he went into office. He was then elected county attorney of Carroll County and entered into the practice of law. Shortly afterwards he became a member of the firm of Winslow, Bridges & Winslow and soon after that was tendered the position of cashier of the Carrollton National Bank. He filled many high offices in the Masonic lodge and as an Odd Fellow he received the highest honor of that order serving as Grand Master of Kentucky in 1908. On September 9, 1909, James G. Goslee was elected cashier at a meeting of the board of directors in the place of D.M. Bridges, deceased.

On May 2, 1934, A.M. Anderson, receiver for the Carrollton National Bank, completed his receipt to John J. Howe, former conservator. Mr. Anderson took charge as of the close of business on April 25, 1934. He had many years' experience as receiver and was the receiver of the National Bank of Kentucky, Louisville and one other bank. In September, the receiver sold the bank building, furniture and fixtures to the Kentucky State Bank of Carrollton. The Kentucky State Bank of Carrollton opened for business on Friday, September 28, 1934 with the following directors and officers: C.M. Dean, J.A. Dowd, C.H. McCrackin, J.T. Moslye, and Wm. G. Reed, directors; C.M. Dean, president; J.A. Dowd, vice president; Fred Dowd, cashier; and E.G. McCrackin, assistant cashier.

In April 1935, a second dividend of 12 1/2% was announced by Mr. Anderson. The first dividend of 50% totaling approximately $307,000 was paid from accumulated funds plus a loan of $153,000 from the Reconstruction Finance Corporation. The obligation to the RFC was subsequently entirely repaid, and an accumulation of approximately $21,000 supplemented by another RFC loan causing the next dividend payment to be about $77,000. The Depositors' Committee consisted of Messrs. C.M. Dean, R.H. Froman, C.A. Hill, R.T. Butts, W.O. Pearee, J.T. Mosely, and R.W. Good. The receiver stated that as of March 31st, there were still $388,274.80 of assets as to book value to be collected or sold. Additionally, there were a number of accounts totaling over $3,700 for which claims had not been filed. Notably, there were 15 farms and several parcels of improved city property directly or indirectly under the control of the receiver and efforts would be made to dispose of the properties at favorable and comparative values. The Kentucky State Bank did not purchase any of the other assets of the Carrollton National Bank and was not assuming any of its liabilities whatsoever.

Official Bank Title

1: The Carrollton National Bank, Carrollton, KY

Bank Note Types Issued

1902 Red Seal $10 bank note with pen signatures of D.M. Bridges, Cashier and O.W. Grier, Vice President. Courtesy of Heritage Auctions, www.ha.com

1902 Plain Back $10 bank note with stamped signatures of J.G. Goslee, Cashier and George B. Winslow, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

1929 Type 1 $20 bank note with printed signatures of J.G. Goslee, Cashier and George B. Winslow, President. Courtesy of Heritage Auctions, www.ha.com

A total of $1,133,980 in National Bank Notes was issued by this bank between 1883 and 1934. This consisted of a total of 91,235 notes (78,040 large size and 13,195 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	3x10-20	1 - 3291	Variety 2 Battle of Lexington vignette
1902 Red Seal	3x10-20	1 - 2700
1902 Date Back	3x10-20	1 - 4540
1902 Plain Back	3x10-20	4541 - 13519
1929 Type 1	6x10	1 - 1676
1929 Type 1	6x20	1 - 418
1929 Type 2	10	1 - 486
1929 Type 2	20	1 - 145

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1883 - 1934):

Presidents:

• Henry Moore Winslow, 1884-1902
• George Boorom Winslow, 1903-1929
• Oscar William Geier, 1930-1931
• John J. Howe, 1932-1932

Cashiers:

• David N. Vance, 1884-1887
• David M. Bridges, 1888-1908
• James G. Goslee, 1909-1932

Other Known Bank Note Signers

• No other known bank note signers for this bank

Bank Note History Links

• Carrollton National Bank, Carrollton, KY History (NB Lookup)
• Kentucky Bank Note History (BNH Wiki)

Sources

• Carrollton, KY, 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