Chalfont National Bank, Chalfont, PA (Charter 12582)
Chalfont National Bank, Chalfont, PA (Chartered 1924 - Open past 1935)
Town History
Chalfont is a borough with home rule status in Bucks County, Pennsylvania. The borough is served by SEPTA Regional Rail's Lansdale/Doylestown Line at Chalfont station. The population was 4,253 at the 2020 census. In 1920 the population was 317, growing to 550 by 1930.
Chalfont is named after Chalfont St Giles in Buckinghamshire, England. Chalfont was the home of William Penn's first wife, and William Penn is buried at Jordans Quaker Meeting House near Chalfont St Giles.
In 1885, Chalfont established Forest Park. Forest park started out as a small picnic ground where music could be played. The appearance of the train station in Chalfont assured the park's success. However, as the park grew it became a small amusement park where local people could enjoy rides, a large swimming pool built in the 1930s, music (including string bands in the 1940s) and as the hosting ground for many company picnics. The park closed its doors forever in 1968.
Chalfont had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.
Bank History
- Organized July 11, 1924
- Chartered September 27, 1924
- Bank was Open past 1935
In June 1924, stockholders elected a board of directors and a committee was appointed to seek a suitable site for a building. The directors were Jacob R. Fretz, Lansdale; A.A. Nash, Eureka; Eli R. Fretz, Pleasant Valley; I.D. Derstine, Blooming Glen; Herman F. Voss, New Britain; J.L. High, Bedminster; Abram O. Good, Ottsville; Eli H. Detweiler, Harry Schalcher, Russell M. Hartzell, James M. Hartzell, Peter Hellburg, William S. Moyer, Abram S. Moyer, and Harry L. Weamer, all of Chalfont.[1] The organization was effect on Wed September 24th with the following officers chosen: James M. Hartzel, president; Russell M. Hartzel, vice president; Harry L. Weamer, cashier; Frank M. Royahn, secretary. In addition to the officers, the following will be members of the board of directors: Abram Good, Harry Schalcher, William S. Moyr, Abram S. Moyer, Peter Hellburg, Herman F. Vom, John F. High, Jacob R. Fretz, Eli Detweiler, Abram A. Nash, Allen C. Brick, and I.D. Derstine. The new institution planned to open on January 1st.[2]
In January 1925, Plasterers were at work on the new structure for the Chalfont National Bank. The officers elected were James M. Hartzel, president; R.M. Hartzel, vice president; Harry L. Weamer, cashier pro tem, and Frank M. Royahn, secretary. Cyrus Twining, Doylestown banker was appointed cashier. He had been connected with the Doylestown National Bank.[3] Thomas Diver was the assistant cashier. The new bank opened its doors to the public on Saturday morning, March 14th. When the doors opened a steady stream of Chalfont residents filed past the receiving teller's window and opened checking and savings accounts. Officials of the institution stated that scores of Chalfont residents and citizens living in the vicinity who never had a bank account before now possessed books with tidy sums entered. The bank was the town's only financial institution with the exception of a building and loan association and had been in the planning for several years. The capital stock was $50,000 with a paid in surplus of $5,000. The bank was 30 X 50 feet and was of old Georgianna Colonial design with light grey ornamental terra cotta trimmings. The banking room was 28 X 34 feet. The building proper was of brick. On the left of the entrance was the private office of the president while on the right in rear of vestibule was the entrance lobby to the large working room which was equipped with modern birch banking fixtures finished in dark mahogany. In the rear, a stairway led to the second floor where the directors' room was located. The basement was fitted with a large room for the use of the Chalfont Building and Loan Association, also a new Chalfont institution. This room was accessible from an entrance on the side of the building. The vault was the very latest in design with a door ten inches thick and fitted with time locks, enabling the bank to procure the lowest insurance rates possible. It was lined with heavy carbon steel plates placed against heavy concrete walls. Safety deposit boxes were included in the equipment.[4] The First National Bank of Philadelphia, in addition to sending large floral pieces, delegated one of its expert accountants to assist in handling the great volume of business. The banking room was tastefully decorated with beautiful floral designs, potted ferns and plants which added a spring-like touch to the affair.[5]
Being bankers came naturally to the family of Ely Rittenhouse Fretz of Pleasant Valley who recently was elected to fill a vacancy in the board of directors of the Merchants National Bank, Quakertown. A brother, Jacob R. Fretz of Lansdale, had been a director of the Chalfont National Bank since its organization, four years ago. His grandfather, Ely Fretz of Bedminster, was one of the organizers and a life-long director of the Sellersville National Bank, being succeeded by his son, Francis M. Fretz, who was also on the Sellersville board. His great grandfather, Christian Fretz of Bedminster, was for a long time a director of the Doylestown National Bank.[6]
On October 29, 1930, one of Bucks County's most prominent residents, James M. Hartzel, 79, died at his home in Chalfont following a quite lengthy illness. He was unaware of the disastrous fire that destroyed the F.D. Hartzel's Sons Company flour and feed mill at Chalfont a week ago. He was born in Upper Salford Township, Montgomery County, the oldest son of Francis D. and Catherine Ann (Shellenberger) Hartzel. He came to Chalfont 70 years ago and was active in the flour and feed business until 1926 when he disposed of the business to Harvey S. Russell, M. and Stuart M. Hartzel. He was elected president of the Chalfont National bank upon its organization and held that office up until the time of his death. He was a charter member of the Lansdale Trust and Safe Deposit Company which later reorganized as the Citizens National Bank of Lansdale, and he was elected vice president of that institution. He served in that position until the bank merged with the Lansdale National Bank over a year ago. He served as Chief Burgess of Chalfont for several years and as president of Borough Council. He was a trustee of the Cedar Crest College, Allentown. In 1878, Mr. Hartzel married Isabella J. Frick, daughter of John L. and Susanna (Swartley) Frick, at Doylestown.[7]
On March 13, 1931, three youthful robbers entered the Chalfont National Bank and escaped with about $2,000. Hiram F. Bruner, assistant cashier and three depositors in the bank at the time of the holdup were held at distance with revolvers while the money was placed into bags. The men overlooked several thousand dollars in an unlocked drawer of the bank. They escaped in an automobile in which a confederate had remained while the others entered the bank.[8]
On Saturday, November 14, 1931, with the capture in New York City of a 24-year-old Camden, New Jersey, highwayman, who escaped from his cell in the Camden County Jail early on the morning of August 17 by sawing his way through two sets of steel bars and a steel plate, while his prison colleagues covered the screeching of the instrument by bellowing songs, the robbery of the Chalfont National Bank and the Farmers National Bank of Bristol, had been solved. The Chalfont National Bank was robbed on March 13 by four youthful bandits and $2840 was stolen. The Bristol bank was held up on May 7, this year, but no money was stolen, the bandits being chased away amid pistol fire by bank employees and the sounding of the burglar alarm.
All four bank robbers were now in the hands of police. Three were serving time and the capture of Albert Rumford, in New York early last Saturday, police said, completed the investigation. Information concerning three of the bandits had been in the hands of State Police of the Doylestown sub-station since September 1, but has been kept a secret until the capture of the fourth alleged member of the gang. Information concerning the Chalfont and Bristol bank robberies was gathered by Sergeant William Francis, of Hershey, formerly in charge of the Doylestown sub-station of State Police, who with County Detective Antonio Russo and other police, worked on the investigation since the robberies. From a Philadelphia youth detained last September at the Sixth District detective headquarters in that city, but who was now serving five to ten years in the penitentiary for robbery, Sergeant Francis two months ago secured a confession that solved the Chalfont and Bristol bank robberies. The arrest of Wilbur Rae Creveling, 20, of 1110 West Glenwood Avenue, Philadelphia, took place when Sergeant Francis took him into custody on a charge of bank robbery. Creveling's confession also led police to the Eastern State Penitentiary two months ago, where Vernon Battes, 26, of Philadelphia, was serving a three to six-year sentence for robbery. Battes also admitted taking part in the Chalfont Bank robbery but not in the one at Bristol. At the New Jersey State Prison in Trenton, Sergeant Francis and County Detective Russo, of Bristol, were informed by Thomas Patrick Culliney, 19, of 1537 West Tucker street, Philadelphia, who was serving five to ten years for robbery, that he took took part in the Chalfont and Bristol jobs. Culliney would not give the police a written statement, he said, because he banked on taking a chance on some of the witnesses dying before he completed his sentence in the Trenton State Prison. The fourth member of the gang, known to police for some time, was captured in New York on Saturday. He was Albert Rumford, 24. Descriptions of Rumford were broadcast by police all over the United States, a and member of New York City's detective force saw Rumford on the street and recognized him. The young highwayman, Rumford, was "trailed" by detectives of New York until they were sure of his identity and then arrested. He was surprised as he was entering his boarding house and offered no resistance. He had been living at the New York address since his escape from the Camden jail on August 17. He was in jail last August awaiting trial for hold-ups at the Old Mill Inn on the Burlington Turnpike, and at a gasoline station at Twelfth and Admiral Wilson Boulevard, Camden. Early on the morning of August 17, Rumford filed his way to freedom, using three hacksaws in the process. Although an investigation later was made, Camden authorities never were able to determine how he had procured the tools. Statements made by the other three members of the bank-robbing gang implicated Rumford in the Chalfont and Bristol jobs, and police believed that Rumford feared facing trial on the bank jobs and took a chance on escaping. He almost got away with it until Saturday's capture. The signed confession received from Creveling, who police said was connected with a criminal gang less than one year, cleared up the investigation that took State Police of the Doylestown sub-station and County Detective Russo over 3,000 miles on their investigations. Over 100 suspects were examined and over 300 automobile licenses were checked.[9]
On Tuesday, January 9, 1934, the directors named were David Bensinger, Russell M. Hartzell, Irwin H. Detwiler, Jacob R. Fretz, Allen C. Frick, Sylvester, H. Funk, J. Lewis Greenly, William Gross, Charles J. Happ, Peter Hellberg, Edward H. Keller, Abram S. Moyer, William F. Moyer, Abram A. Nash, and Harry L. Weamer. Officers elected were Russell M. Hartzell, president; David Bensinger, vice president; and F. Cyrus Twining, cashier.[10]
On Tuesday, January 10, 1950, all directors were re-elected at the annual meeting. The directors named for the year were Irvin H. Detweiler, Souderton; Jacob R. Fretz, Sylvester H. Funk, and William S. Moyer, Lansdale; J. Lewis Greenly, Russell M. Hartzel, Peter Hellberg, Abram S. Moyer, and Harry L. Weamer, all of Chalmont; and Charles J. Happ, Doylestown. The officers elected were Sylvester H. Funk, president; Harry L. Weamer, vice president; Hiram F. Bruner, cashier and secretary; and George W. Weisel, assistant cashier and secretary. Employees re-elected were Mrs. Esther H. Hines and Mrs. Catherine W. King, bookkeepers and tellers; and Mrs. Mary Lou Overbaugh and Mrs. Olga Taylor, bookkeepers.[11]
On June 26, 1968, Hiram F. Bruner, president of the Chalfont National Bank announced that the merger of the Chalfont National Bank into the Bucks County Bank and Trust Company would become effective on Monday, July 1st. Bruner would become an executive vice president of the trust company. All employees would become employees with the Bucks County Bank and Trust Company. George W. Weisel would become vice president and George W. Taylor would assume the duties of assistant vice president; Attorney J. Franklin Hartzel together with Mr. Bruner would become directors of the Bucks Count Bank and Trust Company and members of the executive committee. The Chalfont National Bank, founded in 1924, had two offices in Chalfont, one located at 40 North Main Street and the other located at 191 East Butler Avenue. Stockholders of the Chalfont bank would receive stock of the Bucks County bank at the ration of 1.3 shares Bucks Count for each share of Chalfont bank. The merger would give the Bucks County Bank and Trust Company seven offices. The bank was organized in 1955 as a result of the consolidation of the Dublin National Bank, the First National Bank of Perkasie, the Perkasie Trust Company and the Quakertown Trust Company. In 1965 the bank opened an office in the County Line Plaza Shopping Center, Souderton. The bank planned to open a new office on Route 611 near Plumsteadville in the near future. Total resources of the bank exceeded $50 million.[12]
Official Bank Title
1: The Chalfont National Bank, Chalfont, PA
Bank Note Types Issued
A total of $71,750 in National Bank Notes was issued by this bank between 1924 and 1935. This consisted of a total of 10,558 notes (No large size and 10,558 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1929 Type 2 5 1 - 6766 1929 Type 2 10 1 - 3792
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1924 - 1935):
Presidents:
Cashiers:
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Chalfont, PA, 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 Reporter, Lansdale, PA, Mon., June 23, 1924.
- ↑ The Reporter, Lansdale, PA, Wed., Sep. 24, 1924.
- ↑ The Reporter, Lansdale, PA, Mon., Jan. 19, 1925.
- ↑ The Reporter, Lansdale, PA, Mon., Mar. 16, 1925.
- ↑ News Herald, Perkasie, PA, Wed., Mar. 18, 1925.
- ↑ The Reporter, Lansdale, PA, Mon., Jan. 23, 1928.
- ↑ News Herald, Perkasie, PA, Wed., Nov. 5, 1930.
- ↑ The Punxsutawney Spirit, Punxsutawney, PA, Sat., Mar. 14, 1931.
- ↑ The Bristol Daily Courier, Bristol, PA, Tue., Nov. 17, 1931.
- ↑ The Reporter, Lansdale, Pa, Wed., Jan. 10, 1934.
- ↑ The Bristol Daily Courier, Bristol, PA, Sat., Jan. 14, 1950.
- ↑ News Herald, Perkasie, PA, Wed., June 26, 1968.