Clearfield National Bank, Clearfield, PA (Charter 4836)

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Needed: a contemporary postcard or photo of the bank.
Needed: a contemporary postcard or photo of the bank.

Clearfield National Bank, Clearfield, PA (Chartered 1893 - Receivership 1932)

Town History

Incorporated in 1840, Clearfield is a borough in and the county seat of Clearfield County, Pennsylvania. As of the 2010 census the population was 6,215 people making it the second most populous community in Clearfield County behind DuBois.

There were many trade routes and paths for Native Americans living and passing through Clearfield County up to the 1600s. One major Indian path at the time was the Great Shamokin Path, which started near the Indian village of Shamokin (now Sunbury) on the Susquehanna River and continued west past Lock Haven, to Chinklacamoose, now the borough of Clearfield. Finally the path ended at the village of Kittanning on the Allegheny River, which is now the modern town of the same name.

William Bigler (January 1, 1814 – August 9, 1880), was born in Perry Co. and became an American politician, 12th Governor of Pennsylvania from 1852 to 1855, and later U.S. Senator for Pennsylvania from 1856 until 1861. He started a political newspaper, the Clearfield Democrat. After selling the paper he was Nicknamed "The Clearfield Raftsman" because he was the largest producer of lumber for building supplies on the West branch of the Susquehanna River. His older brother, John Bigler, was elected governor of California during the same period; this is possibly the only instance where two brothers governed two different states at the same time.

Clearfield had five National Banks chartered during the Bank Note Era, and all five of those banks issued National Bank Notes.

Bank History

  • Organized December 20, 1892
  • Chartered January 9, 1893
  • Receivership July 18, 1932

In December, 1892, a new national bank was organized at Clearfield, with a capital of $100,000. It was named the Clearfield National Bank with A.R. Powell, president, and James L. Leavy cashier.

On January 9, 1893, the Comptroller of the Currency authorized the Clearfield National Bank of Clearfield, Pa., to commence business on $100,000 capital and with the following officers: President Alexander R. Powell; cashier James L. Leavy.

In February 1893, Mr. Elmer E. Lindemuth, the popular teller of the First National Bank of Marietta resigned his position to accept the cashiership of the new bank at Clearfield.

On July 8, 1932, the Clearfield National Bank placed its affairs in the hands of the Comptroller of Currency for liquidation. Frozen assets were given as the reason for the action. The Clearfield Trust Company and the Clearfield County National Bank announced plans to cash certincates of deposit for patrons of the closed institution.

Official Bank Title(s)

1: The Clearfield National Bank, Clearfield, PA

Bank Note Types Issued

1882 Brown Back $5 bank note with signatures of E.E. Lindemuth, Cashier and A.R. Powell, President
1882 Brown Back $5 bank note with signatures of E.E. Lindemuth, Cashier and A.R. Powell, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1882 Date Back $10 bank note with signatures of H.S. Whiteman, Jr., Cashier and James Mitchell, President.
1882 Date Back $10 bank note with signatures of H.S. Whiteman, Jr., Cashier and James Mitchell, President. Courtesy of Adam Stroup
1929 Type 1 $20 bank note with printed signatures of H.S. Whiteman, Cashier and Harry Boulton, President.
1929 Type 1 $20 bank note with printed signatures of H.S. Whiteman, Cashier and Harry Boulton, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1929 Type 1 $20 bank note with printed signatures of H.S. Whiteman, Cashier and A. Wright Bigler, President
1929 Type 1 $20 bank note with printed signatures of H.S. Whiteman, Cashier and A. Wright Bigler, President. Courtesy of Heritage Auctions, www.ha.com

A total of $3,919,690 in National Bank Notes was issued by this bank between 1893 and 1932. This consisted of a total of 365,240 notes (330,452 large size and 34,788 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 4x5 1 - 10750
1882 Brown Back 3x10-20 1 - 9900 $10s with abnormal border variety
1882 Date Back 4x5 1 - 5634
1882 Date Back 3x10-20 1 - 8717 $10s with abnormal border variety
1902 Date Back 4x5 1 - 5000
1902 Date Back 3x10-20 1 - 7000
1902 Plain Back 3x10-20 7001 - 42612
1929 Type 1 6x10 1 - 4420
1929 Type 1 6x20 1 - 1378

Barnhardt Brothers & Spindler prepared two different overprinting plates with different title layouts when the president changed from Hon. Harry Boulton to A. Wright Bigler. Normally the title layout would stay the same even when the officers signatures had to change.

Bank Presidents and Cashiers

The Clearfield National Bank Presidents and Cashiers during the National Bank Note Era (1893 - 1932):

Presidents:

Cashiers:

Other Bank Note Signers

  • There are currently no known Vice President or Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

  • Clearfield, PA, 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 Jeffersonian-Democrat,Brookville, PA, Thu., Dec. 22, 1892.
  • Pittsburgh Post-Gazette, Pittsburgh, PA, Tue., Jan. 10, 1893.
  • The Semi-Weekly New Era, Lancaster, PA, Sat., Feb. 4, 1893.
  • Pittsburgh Sun-Telegraph, Pittsburgh, PA, Fri., July 8, 1932.
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