Central National Bank, Saint Louis, MO (Charter 8455)
Central National Bank, Saint Louis, MO (Chartered 1906 - Liquidated 1920)
Town History
St. Louis is the second-largest city in Missouri. It sits near the confluence of the Mississippi and the Missouri Rivers. In 2020, the city proper had a population of 301,578, while the bi-state metropolitan area, which extends into Illinois, had an estimated population of over 2.8 million, making it the largest metropolitan area in Missouri and the second-largest in Illinois.
The founding of St. Louis was preceded by a trading business between Gilbert Antoine de St. Maxent and Pierre Laclède Liguest in the fall of 1763. St. Maxent invested in a Mississippi River expedition led by Laclède, who searched for a location to base the company's fur trading operations. Though Ste. Genevieve was already established as a trading center, he sought a place less prone to flooding. He found an elevated area overlooking the flood plain of the Mississippi River, not far south from its confluence with the Missouri and Illinois rivers. In addition to having an advantageous natural drainage system, there were nearby forested areas to supply timber and grasslands which could easily be converted for agricultural purposes. This place, declared Laclède, “might become, hereafter, one of the finest cities in America.” He dispatched his 14-year-old stepson, Auguste Chouteau, to the site, with the support of 30 settlers in February 1764. Laclède arrived at the future town site two months later and produced a plan for St. Louis based on the New Orleans street plan. The default block size was 240 by 300 feet, with just three long avenues running parallel to the west bank of the Mississippi. He established a public corridor of 300 feet fronting the river, but later this area was released for private development.
St. Louis was transferred to the French First Republic in 1800 (although all of the colonial lands continued to be administered by Spanish officials), then sold by the French to the U.S. in 1803 as part of the Louisiana Purchase. St. Louis became the capital of, and gateway to, the new territory. Shortly after the official transfer of authority was made, the Lewis and Clark Expedition was commissioned by President Thomas Jefferson. The expedition departed from St. Louis in May 1804 along the Missouri River to explore the vast territory.
St. Louis became a major port on the Mississippi River and from 1870 until the 1920 census, it was the fourth-largest city in the country. It separated from St. Louis County in 1877, becoming an independent city and limiting its political boundaries. In 1904, it hosted the Louisiana Purchase Exposition and the Summer Olympics.
Saint Louis had 42 National Banks chartered during the Bank Note Era, and 37 of those banks issued National Bank Notes.
Bank History
- Organized November 23, 1906
- Chartered December 5, 1906
- Absorbed 7808 November 14, 1910 (City National Bank, Saint Louis, MO)
- Liquidated December 31, 1920
- Assets taken over by Liberty Bank of which changed its title to Liberty Central Trust Co.
In December 1909, the bank had capital of $1,000,000. H.P. Hilliard was president; M.R. Sturtevant, vice president and J.A. Berninghaus, cashier.
In November 1910, the Central National Bank assumed the liabilities and took over the assets of the City National Bank of St. Louis. Three officials of the City National were elected directors in the Central National: M. Landau, who was president; T.L. Rubinstein, who was vice president; and Jacob Berger, active vice president. Mr. Berger was chosen as one of the vice presidents of the Central National and H.R. Rehme, cashier of the City National, was made an assistant cashier. All employees of the City National had also been given positions in the Central National Bank. The Central National had capital of $1,000,000 with deposits of $7,500,000. On September 1st, the City National reported capital of $200,000, surplus and undivided profits of $48, 672 and deposits of $1,044,995. As a result of the absorption of the City National, a savings department was opened. This made two downtown national banks that had savings deposits, the other was the Washington National Bank.
In September 1911, the directors were L.A. Browning, Ferd. Diehm, Jos. L. Griswold, W.F. Evans, W.W. Henderson, H.P. Hilliard, C.E. Lane, M. Landau, Chas. J. Leppert, John E. McKinney, T.L. Rubenstein, Rud. Schmitz, Floyd Shock, Anton C. Stuever, Chas. P. Sturtevant, and R.E.L. Winter. The officers were H.P. Hilliard, president; M.R. Sturtevant, L.A. Browning, Floyd Shock, and Jacob Berger, vice presidents; A.N. Kingsbury, T.C. Tupper, and Ferdinand Diehm, assistant cashiers; R.W. Hawkins, assistant cashier and manager, foreign department; and J.A. Berninghaus, cashier. The bank had capital of $1,000,000 and deposits of $9,400,000.
On March 1, 1915, Mr. B.F. Edwards and Mr. Sam B. Jeffries were elected members of the board. The board elected Mr. Edwards to succeed Mr. H.P. Hilliard who resigned as president due to his health.
In January 1916, the Clayton Act was ignored by most St. Louis banks which meant that directors serving more than one National institution would have to resign from all but one by October 15. B.F. Edwards was elected a director of the Central National Bank along with Jacob Berger, J.A. Berninghause, J.R. Curlee, J.J. Frey, W.E. Hadley, S.B. Jeffries, R.R. Hammond, J.E. Hitt, L.F. Lumaghi, T.E. Newcomer, J.T. Pedigo, Charles P. Stanley, A.C. Stuever, M.R. Sturtevant, R.E.L. Winter, and George W. Ziebold. The Central National Bank was located at 307 North Seventh Street.
In March 1920, the Third National Bank building, an 18-story banking and office structure at the southwest corner of Broadway and Olive Streets, was purchased for $1,965,000 by a syndicate composed of officers and stockholders of the Central National Bank, headed by B.F. Edwards, president. The first floor and half of the second floor would be leased to the bank with the remainder of the second floor occupied by J.J. Frey Stock and Bond Co. and Paul Jones Realty Co. The building was completed in 1908 at a cost of approximately $900,000 with Eames & Young as architects. The Third National was consolidated with the First National Bank and moved to the Mechanics' American Bank location one block north. The Central National Bank was organized in 1906 and was capitalized at $1,000,000. The officers in 1920 were B.F. Edwards, president; J.R. Curlee, M.R. Sturtevant, J.J. Frey, and Jacob Berger, vice presidents; and T.E. Newcomer, cashier. In 1915, deposits at the bank totaled $6,932,321.90 versus the 1920 figure of $19,529,666.94, showing a gain of $12,597,345.04. Total resources for 1920 showed a gain of $18,526,078.69, the 1915 figures being 9,030,551.47 as against $27,592,630.16 for 1920.
In November 1920, stockholders of the Central National Bank and the Liberty Bank met to ratify plans to merge the two institutions. John L. Johnston, president of the Liberty Bank would become president of the new institution, the Liberty Central Trust Company. J.J. Frey, vice president, purchased 2,000 shares of Central National stock for $200 a share which added to the 1,000 shares he already owned giving him 30% of the $1,000,000 of capital stock. J.E. Hitt and E.L. Taylor of Chicago threw their fortunes in with Frey along with R.R. Hammond, president of the St. Louis Cattle Loan Company, giving 45% of control to this group. B.F. Edwards was among those who sold their stock to Frey and resigned from the board. Edwards said "It is not my intention to leave the banking business, which has been my lifelong vocation, but I expect to continue my endeavors in my home city and hope to make the institution with which I shall be connected as prosperous and successful as the Central National Bank has been during the last few years." He took a desk in the office of his brother, head of A.G. Edwards & Co., with an office at 412 Olive Street.
In January 1921, the officers of the Liberty Central Trust Company were: J.L. Johnston, president; H. Hunsicke, M.R. Sturtevant, R.R. Clabaugh, E. Barklage, J.J. Frey, T.E. Newcomer, Jacob Berger, Wm. C. Uhri, Louis Fuez, Ch. A. Lamp, vice presidents; J.M. Garesche, E.A. Schmid, R.P. Titus, J.M. Curlee, A.M. Lewis, H.M. Berger, assistant vice presidents; Erastus Wells, Secretary; A.N. Kingsbury, cashier. The bank had capital of $3,000,000, surplus of $1,000,000 and total resources of $50,000,000.
In March 1925, J.L. Johnston was elected chairman of the board of directors. Johnston started his banking career in Ashland, Missouri and at one time was a director of the National Reserve Bank of Kansas City.
On March 23, 1929, The First National Bank in St. Louis (Charter 170) consolidated with the Liberty Central Trust Co.
Official Bank Title(s)
1: The Central National Bank of St. Louis, MO
Bank Note Types Issued
A total of $7,402,920 in National Bank Notes was issued by this bank between 1906 and 1920. This consisted of a total of 846,920 notes (846,920 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 1902 Red Seal 4x5 1 - 22750 1902 Red Seal 4x10 1 - 13900 1902 Red Seal 50-100 1 - 2100 1902 Date Back 4x5 1 - 70000 1902 Date Back 4x10 1 - 61500 1902 Date Back 50-100 1 - 1000 1902 Date Back 3x50-100 1 - 3836 1902 Plain Back 4x5 70001 - 90992 1902 Plain Back 4x10 61501 - 78702
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1906 - 1920):
Presidents:
- Hamilton A. Forman, 1907-1908
- Henry Peebles Hilliard, 1909-1914
- Benjamin Franklin Edwards, 1915-1920
Cashiers:
- Myron Richard Sturtevant, 1907-1908
- Julius Arnold Berninghaus, 1909-1914
- Thomas Emory Newcomer, 1915-1920
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Missouri Bank Note History
- General information on Saint Louis (Wikipedia)
- General information on St. Louis County (Wikipedia)
- General information on Missouri (Wikipedia)
Sources
- Saint Louis, MO, 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 Bankers' Magazine, Vol. 81, July 1910-Dec. 1910, p. 908.
- Mississippi Blätter, St. Louis, MO, Sun., Dec. 19, 1909.
- The Oklahoma Banker, Oklahoma City, OK, Fri., Sep. 1, 1911.
- St. Louis Post-Dispatch, St. Louis, MO, Mon., Mar. 1, 1915.
- St. Louis Globe-Democrat, St. Louis, MO, Wed., Jan. 12, 1916.
- St. Louis Post-Dispatch, St. Louis, MO, Mon. Mar. 22, 1920.
- St. Louis Globe-Democrat, St. Louis, MO, Wed., Mar. 24, 1920.
- The St. Louis Star and Times, St. Louis, MO, Sat., Nov. 13, 1920.
- The St. Louis Star and Times, St. Louis, MO, Wed. Nov. 17, 1920.
- St. Louis Post-Dispatch, St. Louis, MO, Sun., Jan. 2, 1921.
- Kansas City Times, Kansas City, MO, Tue., Mar. 17, 1925.