Chapman National Bank, Portland, ME (Charter 4868)
Chapman National Bank, Portland, ME (Chartered 1893 - Liquidated 1929)
Town History
Portland is the most populous city in the U.S. state of Maine and the seat of Cumberland County. Portland's population was 68,408 in April 2020. The Greater Portland metropolitan area has a population of approximately 550,000 people. Historically tied to commercial shipping, the marine economy, and light industry, Portland's economy in the 21st century relies mostly on the service sector. The Port of Portland is the second-largest tonnage seaport in the New England area as of 2019. The city seal depicts a phoenix rising from ashes, a reference to Portland's recovery from four devastating fires. Portland was named after the English Isle of Portland. In turn, the city of Portland, Oregon, was named after Portland, Maine. The word Portland is derived from the Old English word Portlanda, which means "land surrounding a harbor".
In 1820, Maine was established as a state with Portland as its capital. In 1832, the capital was moved north and east to Augusta. In 1851, Maine led the nation by passing the first state law prohibiting the sale of alcohol except for "medicinal, mechanical or manufacturing purposes." The law subsequently became known as the Maine Law, as eighteen other states quickly followed. The Portland Rum Riot occurred on June 2, 1855.
In 1853, upon completion of the Grand Trunk Railway to Montreal, Portland became the primary ice-free winter seaport for Canadian exports. The Portland Company, located on Fore Street, manufactured more than six hundred 19th-century steam locomotives, as well as engines for trains and boats, fire engines and other railroad transportation equipment. The Portland Company was, for a time, the city's largest employer and many of its employees were immigrants from Canada, Ireland and Italy. Portland became a 20th-century rail hub as five additional rail lines merged into Portland Terminal Company in 1911. These rail lines also facilitated movement of returning Canadian troops from the First World War in 1919. Following nationalization of the Grand Trunk system in 1923, Canadian export traffic was diverted from Portland to Halifax, resulting in marked local economic decline. Icebreakers later enabled ships to reach Montreal in winter, drastically reducing Portland's role as a winter port for Canada.
On June 26, 1863, a Confederate raiding party led by Captain Charles Read entered the harbor at Portland leading to the Battle of Portland Harbor, one of the northernmost battles of the Civil War. The 1866 Great Fire of Portland, Maine, on July 4, 1866, ignited during the Independence Day celebration, destroyed most of the commercial buildings in the city, half the churches and hundreds of homes. More than 10,000 people were left homeless. In 1860, the population was 26,341, growing to 70,810 by 1930 and peaking at 77,634 in 1950.
Portland had 11 National Banks chartered during the Bank Note Era, and all 11 of those banks issued National Bank Notes.
Bank History
- Organized September 16, 1893
- Chartered September 30, 1893
- Liquidated May 1, 1929
- Succeeded by Chapman Bank and Trust Company
In Chapter I03, Plate Dates on Large Size National Bank Notes, Huntoon discusses the procedures surrounding the issuance of bank charters and plates during the Hepburn Experiment in 1893. Plate dates for charters 4846 through 4928 did not correspond to the charter dates as was the custom at the time. This reflects a shift in the process under Comptroller A. Barton Hepburn, who streamlined the process whereby plates were ordered before the finalization of charters. This change, implemented to expedite the issuance of currency for bankers, was popular among the banking community. However, it did result in plates prepared for two banks, Ch4868 and Ch4919 which failed to organize. Charter 4868 subsequently was reassigned to the Chapman National Bank of Portland, Maine. The First National Bank of Perth Amboy, New Jersey (Charter 5215), was eventually chartered in 1899.
On Friday, September 8, 1893, Deputy Comptroller Tucker authorized the Chapman National Bank of Portland to begin business. The Chapman National Bank had for its nucleus the private banking house of Chapman Brothers composed of Cullen C. and Hon. Chas. J. Chapman. The capital stock was $300,000.[2] On September 30, 1893, Comptroller of the Currency James H. Eckels, authorized the Chapman National Bank to begin business.[3] On Monday, October 2, 1893, The Chapman National Bank opened for business. Following were the directors: Cullen C. Chapman, banker; Charles J. Chapman of Norton, Chapman & Co.; Nathaniel W. Morse, capitalist; Ephraim M. Steadman of E.M. Steadman & Co.; Seth L. Larrabee, attorney at law; Perley P. Burnham, merchant, Bridgton, Maine; Bryce M. Edwards of Edwards & Walker Co.; Calvin Bisbee, merchant, Bethel, Maine; and Oren Hooper of Hooper Son & Leighton. At a meeting of the directors the following officers were elected: Cullen C. Chapman, president; Charles J. Chapman, vice president; and Chester H. Pease, cashier.[4]
On Tuesday, January 9, 1900, the directors elected were Cullen C. Chapman, Brice M. Edwards, Henry S. Osgood, Seth L. Larrabee, Perley P. Burnham, William M. Marks, E.M. Steadman, James F. Hawkes, and Adam P. Leighton. The officers elected were Cullen C. Chapman, president; Seth L. Larrabee, vice president; and Thomas H. Eaton, cashier.[5]
On January 8, 1924, the annual meeting was called and two new members were elected to the board of directors, Henry F. Merrill and John P. Ayer. The board re-elected the following officers: Philip F. Chapman, president; James M. Steadman, vice president; Harry S. Boyd, cashier; Melville H. Marston, assistant cashier. The board of directors consisted of Neal W. Allen of the F.O. Bailey Co.; Scott G. Bailey of Swift and Co.; Arthur W. Blake of W.L. Blake Co.; William L. Blake of W.L. Blake Co.; Arthur P. Champlin of Twitchell-Chaplin Co.; Philip Chapman, president; Robert R. Chapman, Eastern Grain Co.; John S. Conley, trustee, Portland Savings Bank; George L. Crosman of G.A. Crosman & Sons Co.; Rex W. Dodge of Charles H. Gilman & Co.; Guy F. Dunton of Chase Transfer Co.; Charles S. Foss of Schlotterbeck & Foss Co.; W. Roy Huston of T.A. Huston Co.; Miles E. Langley of Portland Packing Co.; David E. Moulton, attorney; Charles H. Robinson of C.H. Robinson Co.; Ernest L. Small of Charles H. Hay Co.; James M. Steadman, vice president; Howard Winslow of Deering-Winslow Col.; Henry F. Merrill of Randall, McAllister Co.; and John P. Ayer of Talbot, Brooks & Ayer, Co.[6] The new 12-story Chapman Building under construction on the site of the old Preble Building by the Preble Corporation symbolized the fact that Congress Street was the most important business street in the state of Maine. Its neighbor, the Longfellow House, was a last reminder that Congress Street was once a street of residences and not of business. Demolition of the old building began in the Spring of 1923. The Chapman National Bank was located at 185 Middle Street where it had faithfully served the public for 30 years.[7]
In January 1929, the officers of the Chapman National Bank had been empowered by stockholders to consider the feasibility of organizing a banking and trust company to operate under the laws of the State of Maine. There were no changes to the board of directors or officers. The officers re-elected were Philip F. Chapman, president; Guy F. Dunton, vice president; Harry S. Boyd, cashier and secretary of the board; Melville H. Marston, Harold N. Burnham, and Wallace L. Cook, assistant cashiers. The directors re-elected were Neal W. Allen, John P. Ayer, Scott G. Bailey, Arthur W. Blake, Philip F. Chapman, Robert F. Chapman, John S. Conley, George L. Crosman, Rex W. Dodge, Guy F. Dunton, Charles S. Foss, Alexander Gordon, W. Roy Huston, Miles E. Langley, Dr. Adam P. Leighton, Jr., Henry F. Merrill, David E. Moulton, Charles H. Robinson, Thomas A. Sanders, Ernest L. Small, Herbert H. Sturgis, Sidney St. Felix Thaxter, Leonard F. Timberlake, Lester F. Wallace, and Howard Winslow.[8] On May 1st, the Chapman National Bank announced its acceptance of a charter as a banking and trust company under the laws of the State of Maine and the continuance of its business under the name of the Chapman Bank and Trust Company. This step had been contemplated for some time and was authorized by unanimous vote of the stockholders as a means of rendering better banking services and to grow its clientele.[9] In July 1929, petitions were filed by the Chapman Bank and Trust Company for permission to establish a branch bank in Saco and another branch at Bar Mills.[10]
The Chapman Building was built in 1924. Portland architect Herbert W. Rhodes designed the building.[11] The 14-story building stands at 477 Congress Street and only had 12 floors originally. Two were added in 1965. In 1930, Casco Mercantile Trust took over Chapman Bank & Trust and moved its headquarters to the building. Casco Mercantile closed March 18, 1933. Casco Bank & Trust started operations again with the building as its headquarters on December 11, 1933. Casco Bank & Trust purchased the building in 1953 and changed the name to Casco Bank Building. A time-and-temperature sign was added to the building in 1964 and it would become known as The Time and Temperature Building. The Casco Bank & Trust sold the building to a group of Portland and Boston Businessmen in June 1968. At the time of that sale, it was the tallest office building north of Boston. The building sits next to the Henry Wadsworth Longfellow House.[12]
Official Bank Title
1: The Chapman National Bank of Portland, ME
Bank Note Types Issued
A total of $3,110,790 in National Bank Notes was issued by this bank between 1893 and 1929. This consisted of a total of 398,328 notes (398,328 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 1882 Brown Back 4x5 1 - 11250 Plate date Sept. 30, 1893, approved Oct. 12, 1893. 1882 Brown Back 3x10-20 1 - 4740 1882 Date Back 4x5 1 - 5876 1882 Date Back 3x10-20 1 - 4444 1902 Date Back 4x5 1 - 2250 1902 Date Back 3x10-20 1 - 2000 1902 Plain Back 4x5 2251 - 45151 1902 Plain Back 3x10-20 2001 - 28121
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1893 - 1929):
Presidents:
- Cullen Carter Chapman, 1893-1902
- Seth Leonard Larrabee, 1903-1910
- Adam Phillips Leighton, 1911-1914
- Roswell Farnum Doten, 1915-1916
- Philip Freeland Chapman, 1917-1928
Cashiers:
- Chester Henderson Pease, 1893-1897
- Thomas Henry Eaton, 1898-1916
- Marshall Hagar Purrington, 1917-1921
- Harry S. Boyd, 1922-1928
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Portland, ME, 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
- ↑ Evening Express, Portland, ME, Tue., Jan. 1, 1924
- ↑ The Portland Daily Press, Portland, ME, Sat., Sep. 9, 1893.
- ↑ The Portland Daily Press, Portland, ME, Tue., Oct. 3, 1893.
- ↑ Evening Express, Portland, ME, Mon., Oct. 2, 1893.
- ↑ The Portland Daily Press, Portland, ME, Tue., Jan. 9, 1900.
- ↑ Evening Express, Portland, ME, Tue., Jan. 8, 1924.
- ↑ Evening Express, Portland, ME, Tue., Jan. 1, 1924.
- ↑ Evening Express, Portland, ME, Tue., Jan. 8, 1929.
- ↑ Evening Express, Portland, ME, Wed., May 1, 1929.
- ↑ The Boston Globe, Boston, MA, Thu., July 25, 1929.
- ↑ Evening Express, Portland, ME, Sat., Nov. 12, 1977.
- ↑ Evening Express, Portland, ME, Thu., Apr. 1, 1976.