Drovers National Bank, East Saint Louis, IL (Charter 10399)
Drovers National Bank, East Saint Louis, IL (Chartered 1913 - Receivership 1924)
Town History
East St. Louis is a city in St. Clair County, Illinois. It is directly across the Mississippi River from downtown St. Louis, Missouri, and the Gateway Arch National Park. East St. Louis is in the Metro East region of Southern Illinois. Once a bustling industrial center, like many cities in the Rust Belt, East St. Louis was severely affected by the loss of jobs due to the flight of the population to the suburbs during the riots of the late 1960s. In 1950, East St. Louis was the fourth-largest city in Illinois when its population peaked at 82,366. As of the 2020 census, the city had a population of 18,469, less than one-quarter of the 1950 census and a decline of almost one third since 2010. In 1890 the population was 15,169, growing to 29,734 by 1900.
On April 1, 1861, the citizens voted to change the name of Illinoistown to that of East St. Louis. The officers elected were Samuel W. Toomer, president of town council; Samuel B. Walker Florence Sullivan, John Moneghan and Frank Karle, town council; John B. Bowman, police magistrate; John Henesy, town marshal.[2]
East Saint Louis had seven National Banks chartered during the Bank Note Era, and six issued National Bank Notes.
Bank History
- Organized April 30, 1913
- Chartered May 27, 1913
- Receivership May 22, 1924
On March 18, 1913, the comptroller of the currency approved the application to organize the Drovers National Bank of East St. Louis, capital $200,000. M.A. Bright, correspondent, T.L.G. Sanders, J.W. Sanders, J.S. Henry, and W.H. Becker, organizers.[3] The bank opened on Monday, June 9, 1913, at 10 o'clock at First Street and St. Clair Avenue, just outside the entrance to the National Stock Yards. Many commission men at the yards were stockholders. Employees in the yards had to pass the bank on their way to and from work. M.A. Bright, vice president and organizer, said an interpreter would be employed and a strong bid made for savings accounts from workmen in the packing plants. The bank leased the entire Mahoney Building, covering half a block. A.J. Milliford, formerly a banker at Nokomis, Illinois, was president; M.A. Bright, and Thos. G. Landers, vice presidents; and G.W. Doerr, cashier.[4]
On Friday, February 4, 1916, A.J. Williford tendered his resignation as president. He said that ill health forced him to resign. He had been in the banking business in Illinois for 32 years. He said he would make an extended visit to his former home in Southampton County, Virginia. M.E. Patterson was appointed a director and made president to fill the vacancy. The other members of the board were W.B. Mills, T.G. Landers, J.W. Saunders, John H. Meehan, Louis Beebe, L.G. Hill, G.W. Doerr, and C.L. Davis.[5]
In January 1918, the officers were M.E. Patterson, president; G.W. Doerr, T.G. Landers, and W.B. Mills, vice presidents; H.R. Dooley, cashier; and Roy S. Kemper, assistant cashier. The directors were Louis Beebe, merchant, East St. Louis, Ill.; H.R. Dooley, cashier; G.W. Doerr, vice president; T.G. Landers, Landers-Emmert Commission Co., National Stock Yards, Ill.; W.B. Mills, southern sales manager, Simmons Hardware Co., St. Louis, Missouri; J.H. Meehan, live stock broker, National Stock Yards, Ill.; M.E. Patterson, president; J.W. Sanders, Blakely, Sanders & Mann Commission Co., National Stock Yards, Ill.; T.D. Watkins, Watkins & Co., National Stock Yards, Ill. At the close of business, December 31, 1917, the bank had total assets of $2,164,516.37 against capital of $200,000, surplus and undivided profits $19,690.09, circulation $198,100, and deposits of $1,737,048.78.[6]
On Friday night, May 7, 1920, a woman and nine men were arrested by police in their search for the six fugitive bank robbers routed after one of their confederates had been killed and another captured in the daring morning holdup of the Drovers National Bank of East St. Louis. The robbers abandoned more than $18,000 taken from the bank. All ten of the suspects were held at the Central District Police Station. The woman under arrest was said to be the wife of a notorious bandit recently sentenced to the Penitentiary. Her arrest followed information given to the police that she knew the identity of bank robbers and where they had gone. The police said that in a conversation with one of her friends the woman had learned of the plans for the robbery and the names of some of the men who participated in it. In a battle with Chief of Police A.O. Ely and Policeman Frank Crowell of National City, a few minutes following the robbery, James Haywood, 24 years old, a paroled convict, was killed, and Frank Faintick, 22, of St. Louis, was captured. The automobile used by the bandits, an eight-cylinder touring car, was stolen Thursday night from in front of the Hotel Statler. It was the property of Miss Vesta Brown, 6 Beverly place, and was returned late Friday to its owner. Miss Brown had driven to the Statler to get two girl friends and while she was in the hotel two men held up her chauffeur, J. Lee Henry, and forced him to turn the automobile over to them. When the robbers entered the bank they gave the usual "Hands up!" order, and herded the bank officials into the directors' room. There were no customers in the bank, but in addition to the officials, three bank examiners, Richard L. Hargreaves, Carl Reinholdt and Thomas W. Broughton, were present. Teller Arnold Dooley asked the robbers if they learned this in the movies and one of them replied: "No, boys, we have to do this on account of the high cost of living.”
One man stood guard over the officials in the directors' room while others, except two outside men and the chauffeur, prepared to take the cash. They ordered President Melvin E. Patterson to come out of the directors’ room and unlock the safe. He told them he did not know the combination and could not open the safe if he wanted to. Then Long, the assistant cashier was ordered to open the safe and with a revolver pressed against his body, he told the robbers that he couldn't in less than fifteen minutes and only $10.50 was in it anyway. "Where’s the money", demanded the robbers in chorus, "In the different cages," said Long, and then the hunt for the cash began. The money was thrown into a mail sack and with their loot, the robbers ran out of the bank to their automobile standing at the curb. As the robbers left the bank the officials inside began shooting at them through the plate-glass windows and the volleys rattled the chauffeur, who could not start the car. The robbers then scattered in various directions, leaving the money in the automobile. Mounted men from the stock yards galloped over to the bank and started in pursuit of the robbers. From the East St. Louis Police Station, a squad of officers came, armed with riot guns and the National City Police, under Chief A.O. Ely, started toward the Black Bridge, the city limits of East St. Louis. A stake wagon came with two men on the wagon. The driver was ordered to halt and as he obeyed, two men jumped off the wagon and ran. Several shots were fired as they fled and Haywood fell dead. Faintick then threw up his hands and surrendered. James Haywood, the man who was killed, was convicted in East St. Louis four years earlier on a highway robbery charge. After serving two years in the Southern Illinois Penitentiary at Chester, he was paroled. Since then he had been working as a bartender and waiter in resorts on the Collinsville Road.[8][9]
In February 1921, Frank Faintick, one of five bandits who held up the Drovers National Bank was found guilty of first degree robbery in the Circuit Court at Belleville and sentenced to serve from ten years to life in prison.[10]
On Thursday, May 15, 1924, the Drovers National Bank of East St. Louis, one of the largest banking institutions in Southern Illinois, was closed by National Bank Examiner S.W. Mann. Incurring unexpected losses through the failure of two state banks in Missouri, which resulted in detrimental rumors and to withdrawals by depositors, was given as the reason for the bank's closing. A large sign on the door, bore the terse message: "Drovers National Bank closed by order of Board of Directors. National Bank Examiner taken charge." It was signed by S.W. Mann, national bank examiner. It had been rumored that the bank was lenient toward the Ku Klux Klan organization although H.R. Dooley, president of the Drovers National Bank, had made a statement denying that he was a member of the Klan. Rumors, which started about three weeks ago resulted in a steady withdrawal of money by the depositors. The Board of Directors issued circulars in which the following statement was made concerning the closing of the bank: "The Drovers' National Bank was closed on account of circumstances over which the management had no control. Some unexpected losses were incurred through the failure of two state banks in Missouri. Detrimental rumors had been circulated and as a result, withdrawals were started to a hurtful degree. The directors regard the bank as solvent, but developments have been such that they have decided that the best interests of all concerned would be served by closing the bank and placing it in the hands of the comptroller of currency." It was known to business men that the bank had a "hard going" since its removal from the old site in the Stock Yards at First and St. Clair Avenues to its present site at 435 Missouri Avenue and its subsequent reorganization on July 7, 1923. The annual bank statement issued by the bank on January 31, 1924, showed no signs of distress. The officers of the bank were: President, H.R. Dooley; Sharp Ezzell, cashier; G.L. Eltrich, assistant cashier; and M.E. Patterson, chairman of the board of directors. The directors were, besides the president and cashier: Louis Beebe, Dr. J.T. Hawkins, John W. Sanders and C.B. Simmonds.[11]
Official Bank Title
1: The Drovers National Bank of East St. Louis, IL
Bank Note Types Issued
A total of $1,591,050 in National Bank Notes was issued by this bank between 1913 and 1924. This consisted of a total of 198,876 notes (198,876 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 1902 Date Back 4x5 1 - 7500 1902 Date Back 3x10-20 1 - 6000 1902 Plain Back 4x5 7501 - 29830 1902 Plain Back 3x10-20 6001 - 19889
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1913 - 1924):
Presidents:
- Andrew Jackson Williford Jr., 1913-1915
- Melvin Elmore Patterson, 1916-1920
- Henry Russell Dooley, 1921-1923
Cashiers:
- G. W. Doerr, 1913-1915
- Henry Russell Dooley, 1916-1920
- W. R. Long, 1921-1922
- Oscar Sharp Ezzell, 1923-1923
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
- Drovers National Bank, East Saint Louis, IL History (NB Lookup)
- Illinois Bank Note History (BNH Wiki)
Sources
- East Saint Louis, IL, 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 Globe-Democrat, St. Louis, MO, Sat., May 8, 1920.
- ↑ Daily Missouri Republican, St. Louis, MO, Thu., Apr. 4, 1861.
- ↑ The Inter Ocean, Chicago, IL, Wed., Mar. 19, 1913.
- ↑ St. Louis Globe-Democrat, St. Louis, MO, Mon., June 9, 1913.
- ↑ St. Louis Globe-Democrat, St. Louis, MO, Mon., Feb 7, 1916.
- ↑ Daily National Live Stock Reporter, National Stock Yards, IL, Fri., Jan. 25, 1918.
- ↑ St. Louis Globe-Democrat, St. Louis, MO, Sat., May 8, 1920.
- ↑ St. Louis Globe-Democrat, St. Louis, MO, Sat., May 8, 1920.
- ↑ The Belleville News-Democrat, Belleville, IL, Fri., May 7, 1920.
- ↑ The Edwardsville Inelligencer, Edwardsville, IL, Tue., Feb. 1, 1921.
- ↑ Belleville Daily Advocate, Belleville, IL, Thu., May 15, 1924.