Central National Bank, Spartanburg, SC (Charter 4996)
Central National Bank, Spartanburg, SC (Chartered 1895 - Receivership 1933)
Town History
Spartanburg is the second-largest city in the greater Greenville–Spartanburg–Anderson Combined Statistical Area, which has a population of 1,385,045 as of 2014. It is part of a 10-county region of northwestern South Carolina known as "The Upstate," and is located 98 miles northwest of Columbia, 80 miles west of Charlotte, North Carolina, and about 190 miles northeast of Atlanta, Georgia.
Spartanburg was formed in 1785, after a deal was made with the Cherokee Nation in 1753, and was named after a local militia called the Spartan Regiment in the American Revolutionary War. The Spartan Regiment, commanded by Andrew Pickens, participated in the nearby Battle of Cowpens. In 1831, Spartanburg was incorporated, later becoming known as the "Hub City": railroad lines radiated from the city forming the shape of a wheel hub.
It became a center of textile manufacturing in the late 19th century, with around 40 textile mills being established through the early 1900s. Spartanburg is the home of Wofford College, Converse University, and Spartanburg Community College, and the area is home to USC Upstate and Spartanburg Methodist College. It is also the site of headquarters for Denny's.
Spartanburg had five National Banks chartered during the Bank Note Era, and four of those banks issued National Bank Notes.
Bank History
- Organized April 17, 1895
- Chartered May 4, 1895
- Conservatorship March 15, 1933
- Receivership August 8, 1933
In July 1930, the treasury department authorized the bank to open a branch on East Main Street near the crossing of Liberty Street.
In December 1931, the directors were H.L. Bomar, C.C. Kirby, M.E. Bowden, A.M. Law, J.J. Burnett, Jno. A. Law, J.B. Caldwell, F.L. Liles, S.F. Cannon, L.W. Perrin, H.B. Chapman, M.G. Stone, T.K. Hudgens, Jr., and T.S. Perrin. The officers were Jno. A. Law, president; Chas. C. Kirby, vice president; M.E. Bowden, vice president and cashier; H.B. Chapman, assistant cashier; W.R. France, assistant cashier; and J.N. Wright, Jr., assistant cashier.
John A. Law, president of the Central National Bank of Spartanburg announced the bank would reopen Wednesday, March 8, 1933, for operations of the sort approved by Secretary Woodin The bank closed Saturday because of the general financial crisis. On March 16, he announced his appointment from the comptroller of the currency as conservator of the institution and its two local branches. Law was a prominent textile manufacturer as president of the Saxon Mills, banker and businessman. The Central National and its local branches, one of them known as the Spartan Savings bank and the other carrying the name of the parent institution were the only banks in Spartanburg.
On May 25, 1933, John N. Wright, former assistant cashier of the Central National Bank faced a six-year term in the federal penitentiary at Atlanta following his confession that he misappropriated $16,000 of the bank's funds. He was sentenced by Judge H.H. Watkins after pleading guilty on eight counts of the indictment returned against him by the federal grand jury. The 47-year-old Laurens County native was a grandson of the late W.D. Simpson, former governor of South Carolina.
On May 30, Charles C. Kirby, vice president of the Central National Bank was charged with making false entries and misapplication of $18,000 of the bank's funds in a warrant issued on the affidavit of Leslie F. Hunt of Charlotte, North Carolina, special agent for the Department of Justice. Kirby was charged with violation of Section 5209 of the United States banking laws which related to false entries and misapplying funds. The district attorney indicated that no definite time had been fixed for a preliminary hearing but it was expected Kirby would make bond and waive a preliminary hearing. Kirby through his attorney, J. Hertz Brown, of Spartanburg, said he had no comment to make. Since the banking holiday, the Central National Bank had been operating under the conservator John A. Law.
On October 5, 1933, Floyd L. Cobb, former teller of the Central National bank of Spartanburg, was under indictment on eight counts of embezzlement and making false entry regarding $3,078.86 of the bank’s funds. A federal grand jury returned the indictment and the case was expected to be tried in December. The violations of the banking laws were alleged to have covered a period of from March 18, 1933 to June 27, 1933. Cobb was arrested in Spartanburg on September 9 and was released under bond the same day.
On November 29, 1933, Charles C. Kirby pleaded guilty in federal district court to charges that he made false entries and was sentenced to a year and a day in the federal prison at Atlanta.
On March 8, 1934, Floyd L. Cobb was found guilty by a federal court on charges of embezzlement and false entries in the bank and was sentenced to serve three years and six months in prison. Cobb was tried before Judge H.H. Watkins of Anderson and the jury convicted him on each of 10 counts of the indictment. H.K. Osborne, chief of defense counsel announced before sentence was pronounced that Cobb had requested that steps for an appeal be taken.
On Monday, July 2, 1934, The Commercial National Bank, Charter 14211, with a capital of $150,000 and a $16,000 paid-in surplus opened with Alfred Moore, textile executive as chairman of the board of directors. J.L. Campbell who had handled liquidation of several national banks was president; A.B. Taylor, president of the Taylor-Colquitt company was vice president; Vernon C. Earle, cashier; and W. Evans Bruner, assistant cashier. W.P. Conyers of Greenville was appointed receiver of the Central National Bank of Spartanburg, the First National Bank of Gaffney, and the Carolina National Bank of Spartanburg to succeed Mr. Campbell.
Official Bank Title(s)
1: The Central National Bank of Spartanburg, SC
Bank Note Types Issued
A total of $7,860,180 in National Bank Notes was issued by this bank between 1895 and 1933. This consisted of a total of 970,734 notes (817,140 large size and 153,594 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 4x5 1 - 5250 1882 Brown Back 3x10-20 1 - 11600 1882 Date Back 4x5 1 - 30855 1882 Date Back 3x10-20 1 - 20849 1902 Date Back 4x5 1 - 5000 1902 Date Back 3x10-20 1 - 6000 1902 Plain Back 4x5 5001 - 80961 1902 Plain Back 3x10-20 6001 - 54770 1929 Type 1 6x5 1 - 16033 1929 Type 1 6x10 1 - 7850 1929 Type 1 6x20 1 - 1716
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1895 - 1933):
Presidents:
Cashiers:
- Jefferson Choice Evins, 1895-1899
- James King Stringfield Ray, 1900-1900
- Giles Lawson Wilson, 1901-1905
- Charles C. Kirby, 1906-1915
- Melvin Earle Bowden, 1916-1932
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
- Central National Bank, Spartanburg, SC History (NB Lookup)
- South Carolina Bank Note History (BNH Wiki)
Sources
- Spartanburg, SC, 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 State, Columbia, SC, Wed., July 2, 1930.
- The State, Columbia, SC, Thu., Dec. 31, 1931.
- The Greenville News, Greenville, Mar. 8, 1933.
- The Item, Sumter, SC, Thu., Mar. 16, 1933.
- The Greenville News, Greenville, SC, Thu., May 25, 1933.
- The Greenville News, Greenville, SC, Tue., May 30, 1933.
- The Columbia Record, Columbia, SC, Thu., Oct. 5, 1933.
- The Charlotte News, Charlotte, NC, Wed., Nov. 29, 1933.
- The Greenville News, Greenville, SC, Fri., Mar. 9, 1934.
- The Greenville News, Greenville, SC, Sat., June 30, 1934.