Citizens National Bank, Tell City, IN (Charter 7375)
Citizens National Bank, Tell City, IN (Chartered 1904 - Closed (Merger) 1998)
Town History
Tell City is the county seat of Perry County, Indiana, found in the south-central part of the state along the Ohio River. The population was 7,272 at the 2010 census.
Tell City traces its 150+ year old roots to a meeting in Cincinnati, Ohio, in November 1856. A group of Swiss-German immigrants met there to organize a society known as the "Swiss Colonization Society." Its purpose was to obtain affordable homesteads for mechanics, shopkeepers, factory workers and small farmers in a location where all could live in harmony. The Society decided to purchase a tract of land three miles square to be surveyed into a city plot. The group sent out to purchase the land was told to keep in mind a healthful climate, fertile soil, good water, ample timber, and a location near a navigable river and a railroad, if possible. Purchase of such a site was made in July 1857. The tract, containing 4,152 acres was laid out in 392 town blocks with 7,328 building lots and 294 garden lots.
Before the settlers arrived, a name for the new town was selected. Initially called Helvetia, it was soon renamed Tell City, a name easier to pronounce and remember for English-speaking people. It was named for the legendary Swiss hero and liberator, William Tell.
Indicative of the foresightedness of Tell City's founders are the wide streets. They are named for great persons of the military, arts, letters and science: DeKalb, Watt, Winkelreid, Steuben, Payne, Herrman, Reubens, Lafayette, Schiller, Tell, Fulton, Jefferson, Mozart, Franklin, Humboldt, Pestalozzi, Washington, Blum and Gutenberg.
With 100 years of recorded history, the citizens of Tell City held a centennial celebration August 10–17, 1958 in honor of the early settlers and the founding of Tell City. After the success of the Centennial, the Tell City Historical Society decided to sponsor a festival in 1959 to determine if the community would support it as an annual event. The festival, named Schweizer Fest (Swiss Fest), was a great success. Today, the festival remains one of Indiana's longest-running community festivals.
Tell City had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes.
Bank History
- Organized May 9, 1904
- Chartered August 27, 1904
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Merged into Old National Bank in Evansville, Indiana on October 23, 1998
The Comptroller of the Currency granted authority for the organization of the Citizens' National Bank of Tell City, Indiana. Named incorporators were John T. Patrick, John W. Schull, Adolph Zuelly, Gustave Meyer, and Andy Steinauer with the bank capitalized at $30,000. Authority to open The Citizens' National Bank came Dec. 22, 1904 with John T. Patrick, president; John W. Scull, vice president; R. Huelsmann, cashier; and C.A Scull, assistant cashier.
On Labor Day, 1921, Cashier Alphonse R. Schaerer of the Citizens National Bank of Tell City yielded to temptation taking $8,001.04 in cash and Liberty Bonds amounting to more than $20,000 which belonged to the bank and its depositors. Schaerer made his way to California, then Denver and New York, crossed into Canada, on to Seattle and retraced his steps to Cuba and practically covered the country in his efforts to escape capture. He never stayed more than six weeks in any one place, but even while he gambled in Tijuana, traveled in California and lived in the best hotels of Cuba and enjoyed the sports of Florida, he lost no sleep from fear of arrest. To fund his travels he had to heavily discount the bonds to convert them to cash. Along the way he managed to spend all but about $700 in bonds. Saying he had lived a "life of constant hell" and unable to rest from the strain of eluding officers and in order to "have it over with," Schaerer decided to "take his medicine" and turned himself in to the United States Marshal on September 2, 1924.
In a letter to the law office of Patrick & Schmollinger he said "My only sin is in injuring individuals whose money I took. I owe no apology to the bank. For twelve years after I graduated from high school the bank took my work and at last paid me $75 a month to live on and support an aged grandmother and my own mother who had become ill. I needed money. The bank wouldn't pay it although I took it. In time I found I could not repay. Incensed at the fruitless struggle I made a cleaning and that's all." In a letter written to the bank Schaerer closes with "Some day when I am a free man again I am going out West where there are wonderful opportunities and start life over again. I will work night and day until I have repaid every dollar that I stole." The bank would refute the paucity of his wages.
Schaerer, ex-cashier of the Citizens National Bank of Tell City, Indiana was sentenced to five years in the Federal Penitentiary at Leavenworth, Kansas by Judge A.B. Anderson in Federal District court, October 1, 1924. Sentence was passed on a plea of guilty to charges of embezzling more than $27,000; sentences of five years received on each of two indictments, but the sentences were allowed to be served concurrently.
Back in September of 1921, Louis Stamp was chosen by the directors to replace the defaulting cashier Schaerer. Stamp had served one term as Perry County treasurer and was with the Tell City National Bank for ten years. He was the proprietor of the Louis Stamp Confectionery in Tell City.
In October, 1998, the Citizens National Bank with branches in Tell City, Troy and Rockport, Indiana merged with the Old National Bank (ONB). The banks had been affiliated since 1995. This merger brought Old National Bank's assets to more than $2 billion and increased its number of branches to 30 with locations in southwestern Indiana, southeastern Illinois and Kentucky. ONB president was Mike Hinton while Paul Koressel was president of the Citizens National Bank.
Official Bank Title(s)
1: The Citizens National Bank of Tell City, IN
Bank Note Types Issued
A total of $711,480 in National Bank Notes was issued by this bank between 1904 and 1998. This consisted of a total of 88,581 notes (70,404 large size and 18,177 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 - 700 1902 Red Seal 3x10-20 1 - 500 1902 Date Back 4x5 1 - 2650 1902 Date Back 3x10-20 1 - 2000 1902 Plain Back 4x5 2651 - 9637 1902 Plain Back 3x10-20 2001 - 6764 1929 Type 1 6x5 1 - 1782 1929 Type 1 6x10 1 - 846 1929 Type 1 6x20 1 - 258 1929 Type 2 5 1 - 500 1929 Type 2 10 1 - 336 1929 Type 2 20 1 - 25
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1904 - 1998):
Presidents:
- John Thomas Patrick, 1905-1914
- John William Scull, 1915-1923
- Edward G. Engelbrecht, 1924-1935 Signature
Cashiers:
- Robert Huelsmann, 1905-1907
- John Conway, 1908-1917
- Alphonse Robert Schaerer, 1918-1921
- Louis Stamp, 1922-1926
- Samuel M. Anderson, 1927-1935
Other Bank Note Signers
- Oscar C. Boger (Asst Cashier 1926...1934) Signature
- There are currently no known Vice President bank note signers for this bank.
Wiki Links
- Indiana Bank Note History
- General information on Tell City (Wikipedia)
- General information on Perry County (Wikipedia)
- General information on Indiana (Wikipedia)
Sources
- Tell City, IN, 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://bbdata.banknotehistory.com
- The Indianapolis Journal, Indianapolis, IN, Tue., May 3, 1904.
- The Courier-Journal, Louisville, KY, Thu., Dec. 22, 1904.
- Messenger-Inquirer, Owensboro, KY, Tue., Sep. 27, 1921.
- The Tribune, Seymour, IN, Thu., Sep. 4, 1924.
- The Star Press, Muncie, IN, Thu., Sep. 4, 1924.
- The Owensboro Messenger, Owensboro, KY, Sun., Sep 7, 1924.
- The Indianapolis Star, Indianapolis, IN, Thu., Oct. 2, 1924.
- Messenger-Inquirer, Owensboro, KY, Fri., Oct. 23, 1998.