Columbia National Bank, Pittsburgh, PA (Charter 4910)
Columbia National Bank, Pittsburgh, PA (Chartered 1893 - Closed 1927)
Town History
Pittsburgh is a city in the state of Pennsylvania and the county seat of Allegheny County. As of the 2020 census, the population was 302,971 living within the city limits making it the 68th-largest city in the U.S. and the second-most populous city in Pennsylvania, behind Philadelphia. The Pittsburgh metropolitan area is the anchor of Western Pennsylvania; its population of 2.37 million is the largest in both the Ohio Valley and Appalachia, the second-largest in Pennsylvania, and the 27th-largest in the U.S.
Pittsburgh is located in the southwest of the state, at the confluence of the Allegheny River and the Monongahela River, forming the Ohio River. Pittsburgh is known both as "the Steel City" for its more than 300 steel-related businesses and as the "City of Bridges" for its 446 bridges. The city features 30 skyscrapers, two inclined railways, a pre-revolutionary war fortification and the Point State Park at the confluence of the rivers. The city developed as a vital link of the Atlantic coast and Midwest.
Pittsburgh had 47 National Banks chartered during the Bank Note Era, and 46 of those banks issued National Bank Notes. Pittsburgh also had several Obsolete Banks that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).
Pittsburgh had 47 National Banks chartered during the Bank Note Era, and 46 of those banks issued National Bank Notes.
Bank History
- Organized April 3, 1893
- Chartered May 5, 1893
- Closed March 5, 1927
- Consolidated with 5225 March 5, 1927 (Bank of Pittsburgh NA, Pittsburgh, PA)
- Circulation assumed by 5225 (Bank of Pittsburgh, NA, Pittsburgh, PA)
In April 1893, the directors elected were: J.M. Guffey, E.H. Jennings, W.S. Watson, David Kirk, F.J. Clouse, F.A. Kingsley, H.C. Ayres, H.W. Bishop and S.L. Fleishman.
In September 1896, the Duquesne Nation Bank was making extensive improvements in their building and during the alteration was located at No. 410 Smithfield Street, the building formerly occupied by the Columbian National Bank. The latter was doing business in its handsome quarters at the corner of Fourth Avenue and Smithfield Street.
In January 1900, the officers were E.H. Jennings, president; F.A. Griffin, cashier and W. Hamilton Brunt, assistant cashier. The directors were: E.H. Jennings, F.J. Close, F.A. Kingsley, J.M. Guffey, W.S. Watson, C.H. Stolzenbach, Joshua W. Rhodes, W.H. Schoen, and F.A. Griffin. The bank had capital of $300,000, surplus and profits of $200,000, and deposits of $4,000,000.
In January 1902, the directors were E.H. Jennings, F.J. Close, F.A. Kingsley, W.S. Watson, C.H. Stolzenbach, Joshua W. Rhodes, W.H. Schoen, W.Y. Humphreys, and F.A. Griffin. W.Y. Humphreys was the only new directors elected.
In January 1903, the directors were E.H. Jennings, F.J. Close, F.A. Kingsley, W.S. Watson, C.H. Stolzenbach, Joshua W. Rhodes, W.H. Schoen, W.Y. Humphreys, F.A. Griffin and new directors J.D. Nicholson, R.M. Jennings, and C.D. Bevington. Friday, January 16, 1903, was the last day to turn in the stock of the Tradesmens National Bank under the terms of purchase by the Columbia National Bank which provided for a payment of $200 a share. The Columbia owned practically all the stock wand would liquidate the affairs of the bank within the next three months. The American Trust Co. acted as trustee in the deal.
On March 19, 1903, stockholders of the American Trust Company met to consider a proposition to increase the capital of the company from $1,000,000 to $2,500,000. The purpose of the increase was to obtain control of the Columbia National Bank, the Tradesmens National Bank, the German Savings Bank, the Pennsylvania Trust Co., and the Fourth National Bank.
George B. Hill & Co., managers of the syndicate which consummated the deal for the merger of six important downtown Pittsburgh banks, took over the Germania Savings Bank for the American Trust Co. and issued notices to the stockholders of the Columbia National Bank and the Pennsylvania Trust Co. to deposit their stock in the American Trust Co. before April 1st. It was also decided to move the American Trust Co. to the present rooms of the Columbia National Bank at Smithfield Street and Fourth Avenue and the Columbia National Bank to the present rooms of the Tradesmens National Bank at Fourth Avenue and Wood Street an April 1st.
The night of March 31, wagonloads of office furniture and store fixtures were moved in the downtown district to prevent as much as possible any interruption in business. The flight of banks and trust companies through the streets furnished a sight full of picturesqueness and spondulix. The chief change was made in connection with the American Trust merger, which led to that company removing from its quarters adjoining the Union Trust building on Fourth Avenue to the banking offices of the Columbia National Bank. Meanwhile the Columbia National moved into the home of the Tradesmen’s National Bank, both being in the American Trust Company's merger. The Pennsylvania Trust Company would shortly move into the building formerly occupied by the Columbia National Bank, where it would do business with the American. The Fourth National was not moved, but would soon. This ring-around-the-rosy move may have confused depositors. Millions of Dollars in plain-looking bags and baskets were loaded in equally plain-looking drays under guard of very plain-looking policemen. Pittsburghers, however, had become so accustomed to the sight of money transfers that a few millions no longer attracted a second look. Pittsburgh Daily Post
On May 20, stockholders of the American Trust Company met to finally ratify the increase in capital stock of that company from $1,000,000 to $2,500,000 and also the merger of the various banks and trust companies that had already been taken on by action of the directors. At this same meeting, it was understood that announcement would be made of the plans for the merger of the American Trust Company with the Colonial Trust Company, the plans for which had been under way for some weeks. The terms of this final merger were based on the Colonial Trust Company taking over the American Trust Company with its allied interests, and the acceptance of the stock at $550 a share. The entire deal would be consummated without the use of much actual cash.
The merger of the Colonial Trust and American Trust was a sequel to the plans of John D. Nicholson and George B. Hill & Co., to merge the more important of the National and State banks and trust companies with the American Trust. This scheme of Mr. Nicholson in which he was seconded by E.H. Jennings of the Colombia National Bank, and Francis L. Bobbins, of the American Trust Co., resulted in the union of the Columbia National, Pennsylvania Trust. German Savings Bank and Tradesmen's National, and the capital of the American Trust Co. was increased from $1,000,000 to $2,000,000 at $300 per share, making the total capital and surplus $9,133,000. Plans were perfected on Friday, June 12 for the consolidation of Colonial Trust Co., the American Trust Co., and the Farmers Deposit National Bank to for a new Colonial Trust Company with $7 million in capital and $16 million of surplus and undivided profits and about $55 million in deposits. The new institution would be one of the principal banking institutions in the country, being second only to several New York and Chicago banks.
The officers of the Colonial Trust Co. were: Joshua Rhodes, president; James C. Chaplin, vice president; ex-Senator William Flinn, George W. Darr of Darr, Luke & Moore; M. McMullin, well-known broker; James D. Callery, president of the Pittsburg Railways Co.; E.C. Converse, former president, National Tube Co. and member of the executive board of the United States Steel Corporation; J.C. Reilly, one of the most prominent of Pittsburgh's capitalists; George H. Flinn, John A. Bell, Charles Donnelly, president of the Pittsburg Terminal Railroad and Coal Co.; James S. Kuhn, president of the Pittsburg Bank of Savings; W.H. Latshaw, former vice president and treasurer of the National Tube Co.; and C.S. Fairchild, president of the United States Trust Co. of New York. Officers of the American Trust Co. were F.L. Robblns, president; John D. Nicholson and F.H. Skelding, vice presidents; John A. Bell, J.W. Donnan, Major W.G. McCandless, W.R. Woodford, A.M. Neeper, and John D. Culbertson. Officers of the Columbia National Bank were: E.H. Jennings, president; F.A. Griffin, vice president; W.Y. Humphreys, F.J. Close, Joshua W. Rhodes, W.H. Schoen, W.S. Watson, C.H. Stolzenbach and F.A. Kingsley.
On October 15, 1903, the Colonial Trust Co. stockholders approved a plan of merger with the Farmers Deposit National Bank, whereby the capital of the company was increased from $4,000,000 to $6,800,000 and the 25,000 shares of new stock were to be exchanged for the 8,000 shares of the Farmers Deposit National Bank, this being on the basis of 3 1/2 shares for one share. To carry out the plans agreed upon, the Columbia National Bank and the Tradesmens National Banks, formerly controlled by the American Trust Co., and the Columbia National Bank, owned by the Colonial Trust Co. were removed to the Farmers Deposit National Bank and were placed in liquidation. The American and Pennsylvania Trust companies were removed to the Colonial Trust Co. on August 17 and liquidated. The Colonial National Bank was removed on August 29 and the Columbia and Tradesmens National Banks on August 17. On December 10 the deal between the Colonial Trust Co. and the Farmers Deposit National Bank was formally canceled, and on December 16, the Columbia National Bank, with the Colonial and Tradesmens National Banks returned to their former location in the Tradesmens building at Fourth Avenue and Wood street. The latter two banks were practically liquidated. The Tradesmens National Bank would liquidate on March 29, 1904.
At 3AM on March 15, 1907, the water in the three rivers was as follows: Allegheny, 36.2' and rising, Monongahela, 35.6' and rising, Ohio, 33.5' and rising. Thousands of persons were homeless, many having lost all their belongings. Nearly every factory and mill in Allegheny County shut down. The Allegheny Light Co. was forced to suspend and Pittsburgh was in total darkness. The elevators in the Columbia Bank Building, formerly the Tradesmens building, were put out of commission due to record breaking flooding.
In January 1915, the election of E.H. Jennings to the presidency of the Columbia National Bank, vice R.J. Davidson, resigned, placed Mr. Jennings at the head of two of Fourth Avenue's largest financial institutions, as he already was president of the Colonial Trust Co. Vice President J.C. Chaplin of the Colonial Trust Co. said Mr. Jennings had been elected November last and he knew of no plans for a change. The Clayton bill prohibiting interlocking directorates would not become operative until December 1916 giving banks almost two years in which to reorganize their boards. Directors of the Columbia National Bank were E.V. Babcock, E.W. Mudge, James B. Haines, Jr., J.R. Leonard, A.E. Succop, C.H. Stolzenbach, R.G. Jennings, John A. Bell, A.C. Spindler, W.C. Lowrie, and R.J. Davidson.
On February 2, 1927, the merger of the Bank of Pittsburgh National Association and the Columbia National Bank with deposits totaling $65 million was announced.
On March 4, 1927, consolidation was completed when shareholders of the two institutions ratified the action of their boards who approved the merger a month earlier. The action brought an end to the existence of the Columbia National Bank which was established in 1893 and was located at Fourth Avenue and Wood Street. The merged bank retained the name of the Bank of Pittsburgh, N.A. and the business would be conducted at its building at 226 Fourth Avenue. The Columbia National had deposits of $11 million, bringing total deposits of the merged institution to $65 million. W.T. Davidson, vice president and cashier, and Verner C. Boggs, vice president of the Columbia National became vice presidents of the Bank of Pittsburgh, N.A. All employees of the Columbia National were retained. The enlarged board was as follows: Harrison Nesbit, Wilson A. Shaw, J. Stuart Brown, T. Clifton Jenkins, H.M. Brackenridge, Albert J. Logan, Isaac W. Frank, George A. Kelly, Jr., C.F. Holdship, John F. Miller, E.R. Crawford, J.D. Ayres, E.T. Weir, Frank J. Lanahan, John T. Watson, George Davidson, J.W. Oliver, C.E. Rafter, H.E. Sheldon, L.F. Crawford, James H. Marshall, Alex Dunbar, Sidney B. Congdon, William A. Wilson, W.E. Frick, James B. Haines, Jr., E.S. Hoopes, J.H. Childs, R.G. Jennings, and E.W. Mudge.
The YWCA purchased the old Columbia Bank Building in 1954 from Mr. and Mrs. Melville A. Eberhardt at a cost of $367,500. Its new home, estimated to cost $2.5 million, would be practically arm-in-arm with the YMCA headquarters. The building was constructed in 1897. Cuyahoga Wrecking Co. was in charge of the building's demolition in 1955. Ground-breaking ceremonies occurred on December 7, 1960 for the new six-story YWCA building.
Official Bank Title(s)
1: The Columbia National Bank of Pittsburgh, PA
Bank Note Types Issued
A total of $2,650,140 in National Bank Notes was issued by this bank between 1893 and 1927. This consisted of a total of 302,992 notes (302,992 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 - 15800 1882 Date Back 4x5 1 - 9775 1882 Date Back 3x10-20 1 - 4796 1902 Date Back 4x5 1 - 16000 1902 Date Back 4x10 1 - 13665 1902 Date Back 3x10-20 1 - 2000 1902 Date Back 3x50-100 1 - 800 1902 Plain Back 4x5 16001 - 28912
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1893 - 1927):
Presidents:
- Edward Henry Jennings, 1893-1909
- John Gundry Jennings, 1910-1912
- Robert James Davidson, 1913-1914
- Edward Henry Jennings, 1915-1923
- Richard Gundry Jennings, 1924-1926
Cashiers:
- Frank A. Griffin, 1893-1902
- Harry Milton Landis, 1903-1903
- William C. Lowrie, 1904-1912
- Clark C. Hammond, 1913-1919
- William Thompson Davidson, 1920-1926
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 Pittsburgh (Wikipedia)
- General information on Allegheny County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Pittsburgh, PA, Wikipedia, https://en.wikipedia.org/wiki/Pittsburgh,_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
- The Pittsburgh Press, Pittsburgh, PA, Thu., Apr. 6, 1893.
- The Pittsburgh Press, Pittsburgh, PA, Thu., Sep. 3, 1896.
- Pittsburgh Daily Press, Pittsburgh, PA, Wed., Jan. 10, 1900.
- Pittsburgh Post-Gazette, Pittsburgh, PA, Sat., June 23, 1900.
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., Jan. 15, 1902.
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., Jan. 13, 1903.
- The Pittsburgh Press, Pittsburgh, PA, Sun., Jan. 18, 1903.
- Pittsburgh Weekly Gazette, Pittsburgh, PA, Fri., Mar. 13, 1903.
- The Pittsburgh Press, Pittsburgh, PA, Wed., Mar. 25, 1903.
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., Apr. 1, 1903.
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., May 20, 1903.
- The Pittsburgh Press, Pittsburgh, PA, TSun., June 14, 1903.
- The Pittsburgh Press, Pittsburgh, PA, Thu., Dec. 31, 1903.
- Pittsburgh Daily Post, Pittsburgh, PA, Sat., Jan. 9, 1904.
- Pittsburgh Daily Post, Pittsburgh, PA, Fri., Mar. 15, 1907.
- The Pittsburgh Press, Pittsburgh, PA, Wed., Jan. 13, 1915.
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., Jan. 13, 1915.
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., Feb. 2, 1927.
- Pittston Gazette, Pittston, PA, Wed., Feb. 2, 1927.
- Pittsburgh Post-Gazette, Pittsburgh, PA, Sat., Mar. 5, 1927.
- The Pittsburgh Press, Pittsburgh, PA, Tue., Dec. 28, 1954.
- The Pittsburgh Press, Pittsburgh, PA, Sun., Dec. 4, 1960.