City National Bank, Philadelphia, PA (Charter 543)
City National Bank, Philadelphia, PA (Chartered 1864 - Liquidated 1900)
Town History
Philadelphia is located in Philadelphia County, in the southeast corner of Pennsylvania. It is currently the sixth-most-populous city in the United States and the most populous city in the state of Pennsylvania. It is also the second-most populous city in the Northeastern United States, behind New York City.
Philadelphia is one of the oldest municipalities in the United States. William Penn, an English Quaker, founded the city in 1682 to serve as capital of the Pennsylvania Colony. It grew on the steep banks of the Delaware River into a hub of international trade and monetary influence. The royal post-office was established in this city by Franklin. Mail would pass uninterrupted from Crown to Republic, the one royal department which did so. The Colonies used the old expresses and mail routes leading up to and through the revolution. Philadelphia played an instrumental role in the American Revolution as a meeting place for the Founding Fathers of the United States, who signed the Declaration of Independence in 1776 in Carpenters' Hall, and the Constitution at the Philadelphia Convention of 1787 in Independence Hall.
Philadelphia was the second Capitol after New York City during George Washington's presidency. On April 2, 1792, the United States Mint opened its doors here with David Rittenhouse, former treasurer of Pennsylvania, the first director. The American Philosophical Society was the first scientific society in the land and still meets in the hall Franklin secured for it. Former townships and boroughs of Bristol, Richmond, Kensington, Germantown, Manayunk, Northern Liberties, Southwark, to name a few, were consolidated into Philadelphia in 1854 which then occupied all of Philadelphia County.
During the National Bank Note Era (1863-1935), the population of Philadelphia was 674,022 in 1870, growing to 1,950,961 in 1930. Its highest population was 2,071,605 in 1950, and the current population is estimated at 1,584,064 (2019).
Philadelphia had 70 National Banks chartered during the Bank Note Era, and 62 of those banks issued National Bank Notes. Philadelphia also had 27 Obsolete Banks that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).
Bank History
- Organized October 20, 1864
- Chartered October 22, 1864
- Succeeded City Bank
- Absorbed 547 November 28, 1899 (National Bank of Commerce, Philadelphia, PA)
- Liquidated June 26, 1900
- Consolidated with 539 (Philadelphia National Bank, Philadelphia, PA)
In Harrisburg on Jan. 3, 1855, in the House, Mr. Simpson read in place a bill supplementary to the act incorporating the Belmont Avenue and Plank Road Company, a bill to incorporate the City Bank of Philadelphia. On February 28th, the House passed bills incorporating the City Bank of Philadelphia, the Bank of Pottstown and the Allentown Bank. On Wednesday, March 14, the Senate passed finally the bills to incorporate the City Bank of Philadelphia and the Atlantic Insurance Co. of Philadelphia. On April 4, 1855, the Secretary of the Commonwealth reported that Gov. Pollock had approved bills to incorporate the Mechanics' Bank of Pittsburgh, $500,000; the Maunch Chunk Bank, $200,000; the Anthracite Bank at Tamaqua, $200,000; the New Castle Bank, $150,000; the City Bank of Philadelphia, $500,000; and the bill for the partial restoration of the capital, $150,000, of the Bank of Penn Township. He vetoed $400,000 for new banks at Pottstown and Stroudsburg and approved creating banking capital amounting to two millions.
On November 19, 1860, stockholders of the City Bank of Philadelphia elected the following directors: William F. Hughes, John Baird, George Gordon, Joseph Wharton, Robert Selfridge, A. Boyd Cummings, John Price Wetherill, Charles A. Rubicam, Charles E. Lex, Philip G. Eastwick, C. Henry Garden, Coffin Colket, and Thomas Thompson. On November 26, the directors unanimously elected William F. Hughes, president; Charles E. Lex solicitor; and Joseph S. Riley, Jr., cashier.
On September 30, 1863, Mr. Samuel J. MacMullan, assistant cashier, resigned. Mr. G. Albert Lewis was the cashier.
On January 10, 1866, stockholders of the City National Bank elected the following directors: William F. Hughes, Josiah Kisterbock, Charles W. Trotter, Geo. W. Fahnestock, John Baird, Thomas Potter, S.D. Walton, A. Boyd Cummings, Charles E. Lex, Coffin Colket, Frederick Willcox, J.P. Wetherill, and C. Henry Garden. On the 12th, the directors unanimously re-elected Wm. F. Hughes, Esq., president. G. Albert Lewis was cashier.
In February 1875, the bank announced it would remove to its old location, No. 32, N. Sixth Street, and open for business in its new building on Thursday, February 25th. The building had a handsome brownstone front and the interior was beautifully fitted up. Thomas Potter, Esq., was president and Mr. G. Albert Lewis, cashier.
In January 1874, the directors were Thomas Potter, John Baird, Josiah Kisterbock, A. Boyd Cummings, Coffin Colket, John Price Wetherill, Conrad S. Grove, Collins W. Walton, C. Henry Garden, Frederick Willcox, David Thain, F. Oden Horstmann, and Thomas Wood.
On January 8, 1890, the stockholders elected the following directors: Josiah Kisterbock, Jr., John Baird, Josiah Kisterbock, A. Boyd Cummings, Collins W. Walton, C. Henry Garden, Frederick Willcox, F. Oden Horstmann, Thomas Wood, William Potter, Joel Cook, Alfred Fitler, and William Henry Lex. On the 10th, the directors unanimously re-elected Josiah Kisterbock, Jr. president; Joel Cook, vice president; and G. Albert Lewis, cashier.
On February 13, 1894, John Baird, who had been ill some time with pneumonia, died at his residence at Broad Street and Columbia Avenue. He was 73 years of age. Two sons and a daughter survived him. Mr. Baird was born in Ireland in 1821, and came to America when an infant. The family settled in Philadelphia where he received his education and learned the trade of marble-cutter. When 21 years of age be embarked in business on Ridge avenue, near Spring Garden street, where be started a marble yard. Later be became an importer of Italian marble, and made a large fortune in that business. He was president of the City National Bank from 1878 to 1888 and was an active member or the building committee of the Centennial Board of Finance. Mr. Baird was president of the old Mechanics' Exchange the Continental Hotel Co., and the Cambria Mining and Manufacturing Co. He resigned the position of vice president of the Pennsylvania Museum and School of Industrial Art in order to be able to give more attention to the management of the Philadelphia School of Design for Women and the Spring Garden Institute, of which Institution he was president from its organization in 1851. Some of Mr. Baird's most valuable public labors were those devoted to the Williamson Free School of Mechanical Trades.
In June 1899, the majority interest of the National Bank of Commerce, located at Chestnut and Strawberry streets, just above Second Street, had been sold through Brown Brothers. The question pending was what would become of the bank. The name of the purchaser of the majority of the stock from President William F. Read was not yet revealed. It was announced that minority stockholders could sell their holdings at the same price. Minority directors said that they were not in a position to know the future of the bank. They said that the purchasers had not determined what course to take. They said that the conditions in that neighborhood were only what other excellent banks had to face in consequence of the drift of business away from them to the westward. The officers and directors of the bank were: William F. Read, president; John A. Lewis, cashier; Edward Walden, paying teller; Tattnall Paulding, Notary public; John A. Brown, Jr., Louis C. Norris, Charles F. Lennig, Michael Sweeny, James Logan Fisher, William H. Hollis, John C. Dawson, and A.P. Rutherford.
In October 1899, the officers of the City National Bank were Josiah Kisterbock, Jr., president; Joel Cook, vice president; and G. Albert Lewis, cashier. The directors were Josiah Kisterbock, Jr., Collins W. Walton, Frederick Willcox, Thomas Wood, William Potter, Joel Cook, William Henry Lex, Henry S. Grove, John Kisterbock, Thomas E. Baird, James F. Hope, George H. Colket, and W. Morton Garden. Mr. Wood had passed away at the end of April and had not been replaced. The bank had capital of $400,000 and surplus of $450,000. In January 1900, Joseph S. Neff would be elected a director in place of Thomas Wood.
On November 28, 1899 the City National Bank absorbed the National Bank of Commerce, Philadelphia.
In May 1900, directors of the City National Bank, decided that the best interests of its depositors and shareholders would be served by merging its business with the Philadelphia National Bank, 421-423 Chestnut Street. Arrangements were completed Thursday, May 3rd. Business heretofore conducted by the City National Bank began in the Philadelphia National Bank on the 4th. All the books, papers and accounts incident to the City National Bank were moved to the Philadelphia National Bank. The latter institution would pay all the depositors of the City National Bank in full on demand, and it requested the depositors to at once bring their passbooks and transfer their accounts to the books of the Philadelphia National Bank. Circulars announcing the merger were mailed to the depositors of the City National Bank.
Official Bank Title(s)
1: The City National Bank of Philadelphia, PA
Bank Note Types Issued
A total of $1,721,520 in National Bank Notes was issued by this bank between 1864 and 1900. This consisted of a total of 196,238 notes (196,238 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 4x5 1 - 13400 Original Series 3x10-20 1 - 5000 Original Series 3x50-100 1 - 1000 Series 1875 4x5 1 - 16324 Series 1875 3x10-20 1 - 3758 Series 1875 3x50-100 1 - 400 1882 Brown Back 4x5 1 - 6337 1882 Brown Back 3x10-20 1 - 2559 1882 Brown Back 50-100 1 - 563
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1864 - 1900):
Presidents:
- William F. Hughes, 1864-1870
- Thomas Potter, 1871-1877
- John Baird, 1878-1883
- Josiah J. Kisterbock, Jr. , 1884-1899
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Pennsylvania Bank Note History
- General information on Philadelphia (Wikipedia)
- General information on Philadelphia County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Philadelphia, PA, Wikipedia, https://en.wikipedia.org/wiki/Philadelphia,_Pennsylvania
- 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
- Lancaster Intelligencer, Lancaster, PA, Tue., Mar. 6, 1855.
- Carlisle Weekly Herald, Carlisle, PA, Wed., Mar. 21, 1855.
- The Pittsburgh Gazette, Pittsburgh, PA, Mon, Apr. 9, 1855.
- The Perry County Democrat, Bloomfield, PA, Thu., Apr. 19, 1855.
- The Philadelphia Inquirer, Philadelphia, PA, Tue., Nov. 27, 1860.
- The Philadelphia Inquirer, Philadelphia, PA, Thu., Oct. 1, 1863.
- The Philadelphia Inquirer, Philadelphia, PA, Mon., Jan. 15, 1866.
- The Philadelphia Inquirer, Philadelphia, PA, Wed., Feb. 25, 1875.
- The Philadelphia Inquirer, Philadelphia, PA, Thu., Jan. 15, 1874.
- The Philadelphia Inquirer, Philadelphia, PA, Mon., Jan. 13, 1890.
- The Philadelphia Times, Philadelphia, PA, Wed., Feb. 14, 1894.
- The Philadelphia Inquirer, Philadelphia, PA, Sat., June 10, 1899.
- The Philadelphia Inquirer, Philadelphia, PA, Sun., Oct. 22, 1899.
- The Philadelphia Inquirer, Philadelphia, PA, Fri., May 4, 1900.