Commercial National Bank, Cleveland, OH (Charter 807)
Commercial National Bank, Cleveland, OH (Chartered 1865 - Liquidated 1904)
Town History
Cleveland is a city in Ohio and the county seat of Cuyahoga County. Located in Northeast Ohio along the southern shore of Lake Erie, it is situated across the U.S. maritime border with Canada and lies approximately 60 miles west of Pennsylvania.
The largest city on Lake Erie and one of the major cities of the Great Lakes region, Cleveland ranks as the second-most populous city in Ohio and 54th-most populous city in the U.S. with a 2020 population of 372,624. The city anchors the Cleveland metropolitan area, the 33rd-largest in the U.S. at 2.18 million residents, as well as the larger Cleveland–Akron–Canton combined statistical area, the most populous in Ohio and the 17th-largest in the country with a population of 3.63 million in 2020.
Cleveland was founded in 1796 near the mouth of the Cuyahoga River by General Moses Cleaveland, after whom the city was named. Its location on both the river and the lake shore allowed it to grow into a major commercial and industrial center, attracting large numbers of immigrants and migrants. Cleveland is a port city, connected to the Atlantic Ocean via the Saint Lawrence Seaway. Its economy relies on diverse sectors that include higher education, manufacturing, financial services, healthcare, and biomedicals. The GDP for the Greater Cleveland MSA was $135 billion in 2019.
The Civil War vaulted Cleveland into the first rank of American manufacturing cities and fueled unprecedented growth. Its prime geographic location as a transportation hub on the Great Lakes played an important role in its development as an industrial and commercial center. In 1870, John D. Rockefeller founded Standard Oil in Cleveland, and in 1885, he moved its headquarters to New York City, which had become a center of finance and business. In 1860 the population was 43,417, growing to 381,768 by 1900.
Cleveland had 29 National Banks chartered during the Bank Note Era, and 28 of those banks issued National Bank Notes.
Bank History
- Organized Dec 1, 1864
- Chartered Feb 14, 1865
- Succeeded Commercial Bank
- Liquidated Dec 1, 1904
- Succeeded by 7487 (National Commercial Bank, Cleveland, OH)
In November 1845, a bank under the title of Commercial Branch Bank in Cleveland, capital stock $150,000, was organized with W.A. Otis, president; and T.P. Handy, cashier. The directors were W.A. Otis, T.P. Handy, J. Gillett, N.C. Winslow, and J.M. Woolsy.[1]
On September 14, 1851, a bold attempt was made to rob the Commercial Branch Bank at Cleveland by excavating under the vault. The attempt was thwarted probably because one of the clerks arriving at the front door may have caused the burglars to retreat through the back door.[2]
In 1865, the last board of directors before converting to a national charter consisted of W.A. Otis, A. Stone, Jr., W.J. Boardman, Dudley Baldwin, Levi Benedict, and D.P. Eells. W.A. Otis was president and Dan. P. Eells, cashier; A.S. Gorman, assistant cashier; E.R. Perkins, general bookkeeper; E.C. Smith, individual bookkeeper; Joseph Colwell, teller; Jas. S. Greves, paying teller.[3][4]
On Tuesday, January 10, 1882, stockholders elected the following directors: Amasa Stone, W.J. Boardman, Dan P. Eells, Selah Chamberlain, Charles A. Otis, Fayette Brown, and E.I. Baldwin. The directors met and elected the following officers: Dan P. Eells, president; Amasa Stone, vice president; Josph Colwell, cashier; and David Z. Norton, assistant cashier.[5]
Truman P. Handy was born in Paris, Oneida County, New York, to William and Eunice (Parmalee) Handy. He entered banking at 18 as a clerk. In 1830 he helped organize the Bank of Buffalo and was a teller. He moved to Cleveland in March 1832 at the request of historian Geo. Bancroft, who, with associates, acquired the defunct Commercial Bank of Lake Erie. Handy was cashier when the bank reopened. From 1843-45 Handy operated his own banking office, T.P. Handy & Co. In 1845, he became a director, cashier, largest stockholder, and president of the new Commercial Branch Bank. In 1862 he became president of Merchants Branch Bank, continuing with its successor, Mercantile National Bank until his retirement in 1892. It was said he made a loan of $2,500 to John D. Rockefeller, enabling him to gain his start in business.[6]
On November 23, 1904, a charter was issued to the National Commercial Bank of Cleveland, capital $1,500,000, with J. Colwell, president; C.L. Murfey and W.P. Johnson, vice presidents; and L.A. Murfey, cashier.[7]
Official Bank Title(s)
1: The Commercial National Bank of Cleveland, OH
Bank Note Types Issued
A total of $2,041,400 in National Bank Notes was issued by this bank between 1865 and 1904. This consisted of a total of 121,372 notes (121,372 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 - 7650 Original Series 3x10-20 1 - 9320 Original Series 50-100 1 - 767 Series 1875 50-100 1 - 3583 1882 Brown Back 3x10-20 1 - 10358 1882 Brown Back 50-100 1 - 1680
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1904):
Presidents:
- William Augustus Otis, 1865-1868
- Daniel Parmelee Eells, 1869-1897
- Charles Augustus Otis Sr., 1898-1904
Cashiers:
- Daniel Parmelee Eells, 1865-1865
- Augustus Stoddard Gorham, 1865-1870
- Joseph Colwell, 1871-1883
- David Zadock Norton, 1884-1889
- William Penn Johnson, 1890-1904
Other Known Bank Note Signers
Bank Note History Links
Sources
- Cleveland, OH, 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
- ↑ Pittsburgh Weekly Gazette, Pittsburgh, PA, Fri., Nov. 7, 1845.
- ↑ Pittsburgh Post, Pittsburgh, PA, Sat., Sep. 20, 1851.
- ↑ Cleveland Daily Leader, Cleveland, OH, Thu., Feb. 2, 1865.
- ↑ Cleveland Daily Leader, Cleveland, OH, Fri., Nov. 10, 1865.
- ↑ The Cleveland Leader, Cleveland, OH, Wed. Jan. 11, 1882.
- ↑ Marietta Daily Leader, Marietta, OH, Tue., Jan. 18, 1898.
- ↑ The Courier-Journal, Louisville, KY, Dec. 7, 1904.