City National Bank, Mason City, IA (Charter 4587)

The Historic Park Inn Hotel and City National Bank buildings, located in downtown Mason City, Iowa. View is from the corner of State Street and Federal Avenue. The City National Bank is one of only two remaining Frank Lloyd Wright-designed banks in the world. Courtesy of Google Maps

City National Bank, Mason City, IA (Chartered 1891 - Liquidated 1921)

Town History

Postcard of State Street, Mason City, Iowa, ca1900s, showing the old First National Bank (left) and the City Bank (right). Courtesy of Adam Stroup

Mason City is the county seat of Cerro Gordo County, Iowa. The first pioneer settlement was established in 1853 at the confluence of the Winnebago River and Calmus Creek. The town had several names: Shibboleth, Masonic Grove, and Masonville until Mason City was adopted in 1855, in honor of a founder's son, Mason Long. The U.S. Post Office started service to the town in 1857. Mason City was named the county seat in 1858.

The Historic Park Inn Hotel and City National Bank are two adjacent commercial buildings located in downtown Mason City, Iowa, which were designed in the Prairie School style by the renowned architect Frank Lloyd Wright. Completed in 1910, the Park Inn Hotel is the last remaining Frank Lloyd Wright-designed hotel in the world, of the six for which he was the architect of record. The City National Bank is one of only two remaining Frank Lloyd Wright-designed banks in the world.

During the National Bank Note Era, the population of Mason City was 1,183 in 1870, growing to 6,747 in 1900, and then 23,304 in 1930. It's highest population was 30,642 in 1960, and the current population was 27,338 in the 2020 census.

Mason City had three National Banks chartered during the Bank Note Era, and all three issued National Bank Notes.

Bank History

Organized May 9, 1891
Chartered June 23, 1891
Succeeded City Bank
Liquidated February 19, 1921
Purchased by Commercial Savings Bank

On June 23, 1891, the Comptroller of the Currency authorized the City National Bank of Mason City, Iowa, to begin business with $50,000 capital; James Rule, president, and H.A. Merrill, cashier.

On August 3, 1906, at a special meeting of the board of directors, J.S. Wheeler, a prominent stock raiser, was elected president, vice Harry A. Merrill, resigned. Mr. Merrill resigned in January, but the resignation was not accepted by the board until today. He planned to operate a loan and trust company in Mason City and maintain a residence there. The management of the bank was in the hands of Senator A.H. Gale, vice president; W.R. Daggett, cashier and George Hill, assistant cashier.

In February 1945, Hugh M. Gilmore was an Independent candidate for Mayor of Mason City. He was a graduate of Harvard University where he studied political science, including history, government and economics, of which subjects he later became a teacher. He was superintendent of schools and was instrumental in planning and construction of the manual arts building and added auditoriums to the grade school building. He started the movement which resulted in the organization of junior high schools. Mr. Gilmore left school work to become vice president of the City National Bank where he assisted in the organization of an affiliated City Trust and Savings Bank of which he was also vice president. He continued in these positions for a number of years until the banks were sold and merged with the Commercial Saving Bank. During the years he was in banking, he served as a director of the Chamber of Commerce, member and vice president of the board of trustees of the Mason City public library, and a director of the Mason City Building and Loan Association.

Official Bank Title(s)

1: The City National Bank of Mason City, IA

Bank Note Types Issued

1882 Brown Back $10 bank note with pen signatures of J.F. Shaible, Cashier and A.H. Gale, Vice President. Courtesy of Heritage Auctions, www.ha.com

1902 Plain Back $10 bank note with stamped signatures of J.F. Shaible, Cashier and Hugh M. Gilmore, Vice President. Courtesy of Lyn Knight Auctions, www.lynknight.com

A total of $1,099,050 in National Bank Notes was issued by this bank between 1891 and 1921. This consisted of a total of 87,924 notes (87,924 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	3x10-20	1 - 6940
1882 Date Back	3x10-20	1 - 1861
1902 Date Back	3x10-20	1 - 5600
1902 Plain Back	3x10-20	5601 - 13180

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1891 - 1921):

Presidents:

Cashiers:

Other Bank Note Signers

Hugh Mack Gilmore, Vice President 1917...1920
Absalom H. Gale signed notes as Vice President
George W. Hill, Assistant Cashier 1900...1915

Wiki Links

Sources

Mason City, IA, Wikipedia, https://en.wikipedia.org/wiki/Mason_City,_Iowa
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
For additional pictures of The City National Bank, see Wright on the Park
The Wayne Herald, Wayne, NE, Thu., July 2, 1891.
The Des Moines Register, Des Moines, IA, Sat., Aug. 4, 1906.
Globe-Gazette, Mason City, IA, Thu., Feb. 8, 1945.