Clifton National Bank, Clifton, NJ (Charter 12690)

The old Clifton National Bank at 1184 Main Street, Clifton, New Jersey. The bank moved into these quarters on August 4, 1928. In 1958, this became the Clifton Office of the New Jersey Bank & Trust Company. Courtesy of Google Maps

Clifton National Bank, Clifton, NJ (Chartered 1925 - Open past 1935)

Town History

Clifton is a city in Passaic County, in the U.S. state of New Jersey. Criss-crossed by several major highways, the city is a regional commercial hub for North Jersey and is a bedroom suburb of New York City in the New York Metropolitan Area. As of the 2020 United States Census, the city retained its position as the state's 11th-most-populous municipality, just behind 2020 #10 Trenton, and well ahead of 2020 #12 Cherry Hill, with a population of 90,296. In 1920 the population was 26,470 growing to 46,875 by 1930. Clifton was incorporated as a city by an act of the New Jersey Legislature on April 26, 1917, replacing Acquackanonk Township, based on the results of a referendum held two days earlier.

The modern name of "Clifton" was derived from the cliffs of Garrett Mountain, which borders the Albion Place neighborhood in the western part of the city. Clifton was once an agricultural hub, and home to the U.S. Animal Quarantine Station, which was operated in Clifton by the United States Department of Agriculture, starting in 1903. It was served by the Newark Branch of the Erie–Lackawanna Railroad. It was the primary location on the East Coast where animals from poultry, horses, and cattle, to zoo animals, were held in quarantine after being brought into the United States, to ensure that the animals were not infected with diseases that could be spread in the U.S. The federal station operated in Clifton until the late 1970s, when the facility was relocated to Stewart International Airport in Orange County, New York.

Clifton had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.

Bank History

• Chartered April 22, 1925
• Bank was Open past 1935

In November 1924, Judge John C. Barbour of Clifton, prominent in law and official circles, filed an application for authority to organized the Clifton National Bank with a capital stock of $100,000 and a surplus of $50,000. The four other applicants who made up the necessary number for filing were William H. Doherty, treasurer of the Henry Doherty Silk Co.; John M. Ward, builder and real estate broker; John McHenry, druggist, proprietor of the Clifton Pharmacy, and Henry Possenreide, farmer and member of the Clifton Board of Health. Clifton had two banks: the Clifton Trust Company which was the older, and the First National Bank of Clifton at Parker Avenue and Center Street. Both were members of the Clearing House of Passaic and vicinity.

In March 1925, alterations would start on converting the ground floor of the building at 120 Main Street into the home of the Clifton National Bank. As soon as Charles Argauer who had conducted a dry goods store in the premises had moved, would would commence. On March 13, 1925, stockholders met in the office of John C. Barbour, president of the Clifton Kiwanis Club, and elected the following directors: Patrick J. Connolly, national Silk Dyeing Co.; Randolph Doherty, Henry Doherty Silk Co., silk manufacturers; Arvid Fornelius, superintendent, Athenia Steel Co.; John Hamersma, building contractor; Albert G. Jahn, M.D., physician; Maxwell J. Lentz, D.D.S., oral surgeon; Henry Possenriede, market gardener; J. Mort Towers, president, Independent Electrical Construction Co.; John M. Ward, real estate and building contractor; Jere L. Wentz, president, Portable Machinery Co. and Clifton textile Co. The new bank was expected to begin operations within the next few weeks in temporary quarters at Main and Clifton Avenues, directly opposite the Clifton Trust Company. John C. Barbour was elected president along with William A. Miller, city clerk; Emil A. Chappius, superintendent of A.P. Villa and brothers; George Young, Jr., assistant to President Richard J. Scoles of the Passaic National Bank and Trust company; and John E. McHenry, pharmacist; vice presidents.

On April 9th, 1925, John C. Barbour announced that Arthur Branan of Hazleton, Pennsylvania, would be cashier of the new clifton National Bank. Mr. Branan resigned as vice president of the Markle Banking and Trust Co. at Hazleton and would move to Clifton before the opening of the bank which was scheduled in about 10 days. Mr. Branan, 33, started his career as a messenger following his graduation from the American Institution of Banking in 1910. He began at the American National bank at Macon, Georgia and rose from messenger to higher position in the various departments. He left to become assistant cashier of the Bibb National Bank, Macon, GA. When war was declared, he enlisted in the United States Army. On his return, he became associated with the Bankers' Trust Company, Atlanta, Georgia, which operated a system of 200 banks along the Atlantic Seaboard. Upon retiring as cashier from the First National Bank at Fort Lee, citizens of that city presented him a testimonial bearing their signatures which the presented to Mr. Branan on the steps of the bank on the day of his departure. His next move was to the Markle Banking and Trust Co., a $12 million bank. His wife, a graduate of Wesleyan Conservatory was a gifted musician, possessing a concert soprano voice.

The bank opened at 9 o'clock on Saturday morning, April 25, 1925. About the president of the new bank, Mr. Barbour was appointed a police court magistrate in October 1923 to succeed his late father, Recorder William J. Barbour. He was born in Haledon in 1894 and received his early education in that borough. In 1915, he completed a course at the New York University and was admitted to the bar, coming to Clifton following his father's appointment as Recorder. When the World War broke out, he enlisted in Company C., 312th Infantry in which he was sergeant major. He saw service in the British sector, St. Mihiel and in the Muese-Argonne. Before returning to the country, he took a course in law at King's College, London. Mr. Barbour resumed his practice in Passaic. Two years later, he and his father opened up offices in Brooks Building, 740 Main Avenue where Judge Barbour conducted his law business. He was married to Miss Mabel E. Bennett of Clifton in 1921.

In April 1929, the Federal Reserve Board granted trust powers to the Clifton National Bank and William E. Purcell, the cashier, had been elected trust officer. John Barbour made the following statement, "On April 25, 1925, four years ago today, the Clifton National Bank commenced business at Main and Clifton Avenues with a capital an surplus of $150,000. On August 4, 1928, we moved into our new building at Main and union Avenues where we have every modern facility for carrying on the banking business in all its branches. Our progress has apparently also been very satisfactory to the Federal Reserve Board, for I now have the pleasure to announce that we have been granted trust powers and have elected our cashier, William E. Purcell, trust officer."

On Tuesday, January 13, 1931, directors of the Clifton Trust Co., the First National Bank and the Clifton National Bank were re-elected at stockholders' meetings. The Clifton National Bank directors re-elected were John C. barbour, Emil A. Chappius, Patrick J. Connolly, Randolph Doherty, Arvid Fornelius, John Hamersma, Dr. Albert J. Jahn, Mr. Maxwell J. Lentz, John McHenry, William A. Miller, Henry Possenriede, J.Mort Towers, John M. Ward, Jere L. Wentz and George Young, Jr. John C. Barbour was re-elected president; George Young, Jr., William A. miller, Emil Chappius, and John McHenry, vice presidents; and William E. Purcell, cashier.

On July 7, 1949, directors of the Passaic National Bank and Trust Company and the Clifton National Bank voted to recommend the consolidation of the two banks to the stockholders. The consolidated bank would have $100,000,000 in resources with capital, surplus and undivided profits of nearly $7,000,000. George Young, Jr., president of Passaic National was slated to become president of the Passaic-Clifton National. Former judge John C. Barbour, president of Clifton National was to be named senior vice president of the Passaic-Clifton National. Judge Barbour was president of the Clifton National since its founding in 1925. The directors of the Clifton National were Judge Barbour, Randolph Doherty, Dr. Albert G. Jahn, Dr. Maxwell J. Lentz, City Manager William A. Miller, John E. McHenry, Henry Possenriede, J. Mort Towers, and Jere L. Wentz. The officers were Judge Barbour, president; Mr. Miller and Mr. McHenry, vice presidents; E.B. Toppin, cashier; Leonard T. Tremblay and Erwin O. Kraft, assistant cashiers; and Frank G. Yingling, Jr., auditor. Directors of the Passaic National were Dr. John H. Carlisle, Arthur S. Corbin, R. Ellsworth Doremus, Julius G. Forstmann, Frederick W. Gaston, Carl R. Griffen, S. Ainsworth Hird, Otto E. Kuhn, Thomas Matchett, Albert F. Metz, William A. O'Brien, Charles E. Prescott, Paul L. Troast, and Mr. Young. The officers in addition to Mr. Young were Mr. Griffen, executive vice president; Paul M. Canada, assistant to the president; S.E. Lindstamer, vice president and trust officer; E. Beardsley Shutt, vice president and cashier; Mr. Corbin, George Hossenlopp, C.A. Lohmann, Joseph F. Rean, Edward H. Roden, and John Ryan, vice presidents; Thomas W. Hare, Thomas Rigg, Matthew H. Scheel, and Henry D. Wright assistant vice presidents; G.H. Bjorklund, Herbert R. Decker, Milton A. Dotterweich, Walter V. Grudzinski, Robert C. Palmer, Verne A. Pitman and Matthew DeRouville, assistant cashiers; C. Walter Rice, assistant trust officer; C.W.F. Kroll, auditor; and Robert Y. Johnson, credit manager.

A 1962 advertisement with the New Jersey Bank and Trust Company logo.

On April 12, 1958, John C. Barbour, president of the Passaic-Clifton National Bank & Trust Company said the stockholders' vote on the consolidation with the County Bank & Trust Company would probably take place in late May with the formal merger, if approved, effective early in June. The name of the new merged institution had not yet been decided upon. The Passaic buildings of the two banks were on opposite corners of Main Avenue with Broadway running between them. The County Bank's building of 11 stories was the tallest in Passaic. The predecessor of the Passaic-Clifton National, the Passaic National Bank, was founded in 1886. The Clifton National Bank was founded in 1925 and it merged with the Passaic National to form the Passaic-Clifton National in 1949. The County Bank's history dates to the founding of the Paterson Savings Institution in 1868. The Paterson Savings continued as a savings bank until 1948 when it added a trust department and changed the name to Paterson Savings Institution and Trust Company. In 1951 it merged with the Peoples Bank and Trust Company of Passaic to form the County Bank. The bank acquired the Little Falls National in 1954, the Citizens Trust Company of Paterson in 1955, and the Haledon National Bank in 1957. The merger took place officially at the close of business on Friday, June 20, 1958 and the New Jersey Bank & Trust Company opened for business on the following Monday. C. Kenneth Fuller was chairman of the board and John C. Barbour, president. Over the weekend, the bronze name plates on the new bank's 16 Passaic County offices would be changed, the work expected to be completed by opening day on Monday.

Official Bank Title

1: The Clifton National Bank, Clifton, NJ

Bank Note Types Issued

1929 Type 1 $5 bank note with SN C000001A and printed signatures of William E. Purcell, Cashier and John C. Barbour, President. The Bureau of Engraving and Printing (BEP) produced the overprinting plate used to print this note. Courtesy of Heritage Auctions, www.ha.com

A total of $276,840 in National Bank Notes was issued by this bank between 1925 and 1935. This consisted of a total of 31,599 notes (No large size and 31,599 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	6x5	1 - 1480
1929 Type 1	6x10	1 - 1208
1929 Type 1	6x20	1 - 512
1929 Type 2	5	1 - 7604
1929 Type 2	10	1 - 3540
1929 Type 2	20	1 - 1255

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1925 - 1935):

Presidents:

• Hon. John C. Barbour, 1925-1935

Cashiers:

• Arthur Branan Sr., 1925-1925
• William E. Purcell, 1926-1935

Other Known Bank Note Signers

• No other known bank note signers for this bank

Bank Note History Links

• Clifton National Bank, Clifton, NJ History (NB Lookup)
• New Jersey Bank Note History (BNH Wiki)

Sources

• Clifton, NJ, 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