City National Bank, Cairo, IL (Charter 785)
City National Bank, Cairo, IL (Chartered 1865 - Liquidated 1907)
Town History
Cairo (/ˈkɛəroʊ/ KAIR-oh, sometimes /ˈkeɪroʊ/ KAY-roh) is the southernmost city in Illinois and the county seat of Alexander County. A river city, Cairo has the lowest elevation of any location in Illinois and is the only Illinois city to be surrounded by levees. It is in the river-crossed area of Southern Illinois known as "Little Egypt", for which the city is named, after Egypt's capital on the Nile. In 1860, Cairo's population was 2,188, peaking in 1910 at 14,548. The population as of the 2020 census was 1,733.
The city is located at the confluence of the Ohio and Mississippi rivers, two of the largest rivers in North America, and is near the Cache River complex, a Wetland of International Importance. Settlement began in earnest in the 1830s and busy river boat traffic expanded through the 1850s. Fort Defiance, a Civil War base, was located here in 1862 by Union General Ulysses S. Grant to control strategic access to the rivers, and launch and supply his successful campaigns south. The town also served as a naval base for the Mississippi River Squadron to pursue the Anaconda Plan to win the war. Developed as a river port, Cairo was later bypassed by transportation changes away from the large expanse of low-lying land, wetland, and water, which surrounds Cairo. The strategic importance of Cairo's geographic location during the Civil War sparked prosperity in the town. Several banks were founded during the war years, and the growth in banking and steamboat traffic continued after the war.
Cairo had five National Banks chartered during the Bank Note Era, the First National Bank (Charter 33), the City National Bank (Charter 785), the Alexander County National Bank (Charter 3735), the Cairo national Bank (Charter 6815) and the Security National Bank (Charter 13804), and all five of those banks issued National Bank Notes.
Bank History
- Organized January 21, 1865
- Chartered February 7, 1865
- Assumed business of 33 October 10, 1874
- Liquidated January 2, 1907
- Bought by First Bank and Trust Company of Cairo, IL
On Monday, November 15, 1858, the City Bank of Cairo commences operations with capital of $150,000, all of which was taken. No bills would be issued until the first day of January 1859.[3]
On April 12, 1864, James C. Smith, president of the City Bank of Cairo, died at his residence in Cairo of smallpox and typhoid fever.[4]
On February 8, 1865, the following Western National Banks were authorized to commence operations: Fourth National Bank of Indianapolis, capital $100,000; City National Bank of Cairo, capital $100,000; National City Bank of Cleveland, capital $100,000; and Hillsborough National Bank, capital $100,000. The total number of national banks in operation was 787.[5] The City Bank of Cairo was converted into a national bank under the new banking law.[6] The officers were W.P. Halliday, president; S.B. Halliday, vice president; A.B. Safford, cashier.[7]
In June 1869, the directors were S. Staats Taylor, Scott White, Geo. D. Williamson, W.P. Halliday, Robt. H. Cunningham, Stephen Bird, and A.B. Safford. The officers were W.P. Halliday, president; A.B. Safford, cashier; and Walter Hyslop, assistant cashier.[8]
In January 1873, the Enterprise Savings Bank, located in the office of the City National Bank, Cairo, had A.B. Safford as president; S.S. Taylor, vice president; and H. Hyslop, secretary and treasurer. The directors were P.M. Barclay, F.M. Stockfleth, R.H. Cunningham, Chas. Galigher, Paul G. Schum, H.P. Halliday, and J.M. Phillips. The Enterprise Savings Bank was chartered on March 31, 1869.[9]
In January 1874, the directors of the City National Bank were S. Staats Taylor, Henry L. Halliday, Geo. D. Williamson, Robert H. Cunningham, W.P. Halliday, Stephen Bird, and A.B. Safford. The officers were W.P. Halliday, president; Henry L. Halliday, vice president; A.B. Safford, cashier; and Walter Hyslop, assistant cashier. The bank had capital of $100,000. At the First National Bank of Cairo, R.W. Miller was president; J.M. Phillips, vice president; and Chas. Cunningham, cashier.[10] On October 10, 1874, at a meeting of the stockholders and directors of the First National Bank, it was decided to transfer all of its business to the City National Bank. Checks would continue to be honored without interruption. All notes and collections payable to the First National would be payable to the City National Bank. "Thanking our many friends for their patronage, we would solicit a continuance of the same with the City National Bank," signed Robt. W. Miller, president, and Chas. Cunningham, cashier, Cairo, Illinois.[11]
On Friday, July 26, 1877, Alfred B. Safford, while visiting with his wife, sister, and cousin, E.O, Safford, Esq., of Burlington, Vermont, was stricken with apoplexy and died shortly thereafter. Mr. Safford was born in Hyde Park, Vermont, on January 23, 1822. At fifteen years of age, he moved with his parents to Illinois and lived at their home near Chicago until about eighteen when he entered upon the study of law in Joliet, Illinois. The profession was not agreeable to him and he entered upon a mercantile career. This he pursued with success for several years when he moved to St. Louis, Missouri, where he carried on a commission business until he accepted the position of cashier at a bank located in Shawneetown, Illinois. There, as everywhere, he strove to further the best interests of the public. Up to this time there had been no public schools carried on in that part of the State, and their establishment was due to his energy and liberality. In 1850 he moved to Cairo where he resided ever since, and occupied the position of cashier of the City Bank, and since its establishment, President of the Savings Bank. Mr. Safford was a brother of Anson P.K. Safford, Ex-Governor of Arizona, and of Dr. Mary J. Safford Blake, the "Angel of Cairo" from the Civil War, of Boston. He left a devoted wife, and a loving sister who were with him at the time of his death. [12]
On January 2, 1907, the board of directors of the City National Bank voted to place the bank in liquidation and accepted a proposal from the First Bank and Trust Company of Cairo, Illinois, to assume their liabilities and purchase the assets. J.S. Aisthorpe was cashier and M.C. Wright, president. The Enterprise Savings Bank as authorized by the stockholders also went into liquidation having been acquired by the First Bank and Trust Company. J.S. Aisthorpe was president and George F. Ort, casher. The First Bank and Trust Company began business with capital $250,000 and surplus $50,000. The directors were J.S. Aisthorpe, president; H.S. Candee, Candee Insurance Agency; Thos. P. Cotter, Cotter Bros. & Co.; Reed Green, attorney at law; H.E. Halliday, president, H.L. Halliday Milling Co.; W.P. Halliday, president, Cairo Electric & Traction Co.; Andrew Lohr, capitalist; Paul G. Schuh, president, Schuh Drug Co.; Thos. J. Smyth, R. Smyth & Co.; W.H. Wood, president, Wood & Bennett Co.; and M.C. Wright, capitalist. The officers were J.S. Aisthorpe, president; H.S. Candee, W.H. Wood, and W.P. Halliday, vice presidents; Geo. F. Ort, cashier and secretary; H.R. Aisthorpe, assistant cashier and assistant secretary.[13]
Official Bank Title
1: The City National Bank of Cairo, IL
Bank Note Types Issued
A total of $553,900 in National Bank Notes was issued by this bank between 1865 and 1907. This consisted of a total of 54,322 notes (54,322 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 Original Series 3x1-2 1 - 4000 Original Series 4x5 1 - 2750 Original Series 3x10-20 1 - 2100 Series 1875 3x10-20 1 - 1486 1882 Brown Back 3x10-20 1 - 1558 1882 Brown Back 50-100 1 - 1099 1902 Red Seal 3x10-20 1 - 1137
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1907):
Presidents:
Cashiers:
- Alfred Boardman Safford, 1865-1876
- Walter Hyslop, 1877-1878
- James Hammond Smith, 1879-1879
- Thomas Wyatt Halliday Sr., 1880-1891
- John S. Aisthorpe, 1892-1906
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Cairo, IL, 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 Cairo Bulletin, Cairo, IL, Thu., Oct. 11, 1906.
- ↑ The Cairo Bulletin, Cairo, IL, Sat., Jan. 5, 1907.
- ↑ Chicago Tribune, Chicago, IL, Fri., Nov. 19, 1958.
- ↑ Memphis Bulletin, Memphis, TN, Tue., Apr. 19, 1864.
- ↑ Chicago Tribune, Chicago, IL, Thu., Feb. 9, 1865.
- ↑ The Times-Picayune, New Orleans, LA, Sun., Feb. 12, 1865.
- ↑ The Cairo Bulletin, Cairo, IL, Wed., Jan. 1, 1908.
- ↑ The Cairo Bulletin, Cairo, IL, Fri., June 25, 1869.
- ↑ The Cairo Bulletin, Cairo, IL, Wed., Jan. 1, 1873.
- ↑ The Cairo Bulletin, Cairo, IL, Thu., Jan. 22, 1874.
- ↑ The Cairo Bulletin, Cairo, IL, Sun., Oct. 11, 1874.
- ↑ The Cairo Bulletin, Cairo, IL, Wed., Aug. 8, 1877.
- ↑ The Cairo Bulletin, Cairo, IL, Thu., Jan. 3, 1907.