Clayton National Bank, Clayton, MO (Charter 13481)
Clayton National Bank, Clayton, MO (Chartered 1930 - Open past 1935)
Town History
Clayton is a city in and the seat of St. Louis County, Missouri. It borders the independent city of St. Louis. Organized in 1877, the city was named after Ralph Clayton, who donated the land for the St. Louis County courthouse. The population was 17,355 at the 2020 census. In 1920 the population was 3,028 growing to 9,613 by 1930.
Clayton is one of the St. Louis region's primary business districts and the second largest after downtown St. Louis. The city boasts roughly 46,000 daytime employees (estimate from 2021) and is home to a large and diverse group of the region's Fortune 500 headquarters, blue chip companies, law firms, and banks.
Clayton had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes.
Bank History
- Organized July 9, 1930
- Chartered July 17, 1930
- Succeeded 12329 (The Clayton National Bank, Clayton, MO)
- Assumed circulation of 12329
- Bank was Open past 1935
In January 1930, the officers were Robert K. Barkley, president, Barkley Mercantile Co., Geo. F. Robertson, first vice president, Geo. F. Robertson Plastering Co.; Guy Pollard, vice president and cashier. The directors were Walter Hollowy, Clayton Lumber Co.; J.B. Coats, Clayton Drug Co.; Fred L. Kerth, Fred L. Kerth Realty Co.; Jules E. Strong, Strong Heating Co.; Harry V.S. Grover, St. Louis County Auto Co.; Walter Olderworth, coal dealer; and J.H. Schaedler, Mo. Mutual Insurance Co.
On Friday, July 4, 1930, four St. Louis County banks which had dealings with Harry V.S. Grover, Pres. of the St. Louis County Automobile Company, were being checked. Grover, former big game hunter, shot himself presumably by accident two days earlier prompting an investigation into discrepancies in his accounts. His company was placed in the hands of a receiver, J. Albert Jacobsmeyer, after discrepancies of more than $35,000 were discovered. An officer of the Clayton National Bank said Grover had duplicated and triplicated automobile notes and mortgages, representing a shortage of more than $35,000 in the bank. Directors of the bank pledged themselves to cover the amount of Grover's alleged shortage. President J.H. Schaedler of the Clayton bank said that Grover was called to the bank last Saturday and asked to explain what looked like a duplicate note. Grover admitted to duplicating the paper, Schaedler stated, and asked for time to see his father-in-law, Anton Strauss, a wealthy farmer. He went to Strauss' home and shortly after arrival a shot was heard. His body was found with an old revolver beside it. A coroner's verdict of accident was returned. Grover was born in Germany and attended the University of Berlin. In the Boer War he fought against the British and went to St. Louis after that conflict. In 1914, Grover went to Germany to buy a racing car and was pressed into military service. After five months he was discharged after having been wounded in action, and returned to St. Louis.
On July 9, 1930, The Clayton National Bank reorganized with Robert K. Barkley, president; Geo. F. Robertson, Jules E. Strong, and Fred L. Kerth, vice presidents; J.B. Coats, Walter Holloway, Henry W.J. Rott, Henry Nickels, Jr., George F. Heege, and J.H. Schaedler, directors. James P. Hickok was the cashier. The bank was located at 7901 Forsythe Blvd.
On Tuesday, January 9, 1934, stockholders re-elected its board of seven directors. Officers re-elected by the board were Robert K. Barkley, president; J.E. Strong, John F. Lilly and Fred. L. Kerth, vice president; and Lilly, cashier. George F. Robertson, formerly a vice president, retired from the position, but remained a director. Lilly was made vice president in Robertson's stead.
In July 1935, contracts for a new building to be built on the north side of Forsyth Boulevard, between Bemiston and Central Avenues, were let. The architects, Maritz, Young, and Dusard, Inc., planned for an exterior of cut Bedford stone in a simple version of the modern architecture. The entrance would be centered and higher than the rest of the front with fluted pilasters on either side of the recessed doorway. The large banking room would be entered through a spacious vestibule with space for officers to the left separated from the lobby by a railing of Botticino marble. The vault would contain 4,000 safe deposit boxes, located in the basement.
In September 1946, St. Louis County banks made a triple shift in occupancies when the Clayton National Bank transferred its property at 7817 Forsythe Blvd. to St. Louis County National Bank of Clayton which in turn sold the building to the First National Bank of Clayton after that bank had sold its 50-52 Central Ave. location to the St. Louis County National Bank. The Clayton National and the St. Louis County National Bank agreed to consolidate under the title of St. Louis County National Bank, leaving their 7817 Forsythe Blvd. building vacant which the new organization sold to the First National Bank of Clayton for $110,000. The building at 50-52 South Central Ave. sold for $85,000. Opening of the new quarters for the First National Bank was set for Monday, October 7th, at the new address at 7817 Forsythe Blvd. The change from its previous location at Central and Carondelet Avenues was the bank's first move in its 43-year history.
On Tuesday, September 3, 1946, the St. Louis County National Bank merged with the Clayton National Bank, opened for business for the first time in its consolidated status. The combined banks would operate under the name and charter of the St. Louis County National Bank at 8000 Forsythe Blvd. Chief executive officers of the new institution were Louis C.W. Hecht, chairman of the board, and John F. Lilly, president. Capital of the combined bank was $800,000 and surplus and undivided profits exceeded $400,000. The St. Louis County Bank in Clayton was established in 1890, becoming a national bank on November 1, 1945.
Official Bank Title(s)
1: Clayton National Bank, Clayton, MO
Bank Note Types Issued
A total of $214,330 in National Bank Notes was issued by this bank between 1930 and 1935. This consisted of a total of 17,550 notes (No large size and 17,550 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1929 Type 1 6x10 1 - 1704 1929 Type 1 6x20 1 - 518 1929 Type 2 10 1 - 3443 1929 Type 2 20 1 - 775
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1930 - 1935):
Presidents:
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Missouri Bank Note History
- General information on Clayton (Wikipedia)
- General information on Saint Louis County (Wikipedia)
- General information on Missouri (Wikipedia)
Sources
- Clayton, MO, 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
- St. Louis Post-Dispatch, St. Louis, MO, Sun., Feb. 2, 1930.
- Springfield Leader and Press, Springfield, MO, Fri., July 4, 1930.
- The Modern View, St. Louis, MO, Fri., Sep. 19, 1930.
- St. Louis Globe-Democrat, St. Louis, MO, Wed., Jan. 10, 1934.
- St. Louis Globe-Democrat, St. Louis, MO, Sun., July 14, 1935.
- St. Louis Post-Dispatch, St. Louis, MO, Sun., July 14, 1935.
- St. Louis Post-Dispatch, St. Louis, MO, Thu., Nov. 1, 1945.
- St. Louis Globe-Democrat, St. Louis, MO, Sun., Sep. 15, 1946.
- The St. Louis Star and Times, St. Louis, MO, Wed., Sep. 4, 1946.
- The St. Louis Star and Times, St. Louis, MO, Sat., Oct. 5, 1946.