Exchange National Bank, Osborne, KS (Charter 3472)

An 1890 advertisement for the Exchange National Bank of Osborne, Kansas. The bank was located on the corner of Corner of Penn and East Streets, Osborne, Kansas.

Exchange National Bank, Osborne, KS (Chartered 1886 - Liquidated 1934)

Town History

An 1886 Map of Osborne, Kansas. The First National Bank was on the corner of Penn and Arch Street and the Exchange Bank was on the corner of Penn and East Streets.

Osborne is a city in and the county seat of Osborne County, Kansas. As of the 2020 census, the population of the city was 1,335. In 1880 the population was 719 growing to 1,881 by 1930.

Settlers from southeastern Pennsylvania founded Osborne City in May 1871. They named the settlement after Vincent B. Osborne, a Union Army veteran of the American Civil War, after whom Osborne County also is named. Osborne City became the permanent county seat in November 1872. A district judge officially proclaimed it a city in May 1873, but the townspeople failed to legally organize a government. Five years later, a second attempt was successful, and the settlement incorporated as a city in 1878. "City" was dropped from its name by the mid-1890s.

A bridge was built at Osborne over the Solomon River in 1878.

Osborne had three National Banks chartered during the Bank Note Era, The First National Bank (Charter 3319), The Exchange National Bank (Charter 3472), and The Farmers National Bank (Charter 5834), and all three of those banks issued National Bank Notes.

Bank History

A 1923 advertisement for Raney Drug Store and Devoe paint and varnish products.

• Organized February 17, 1886
• Chartered March 17, 1886
• Liquidated October 15, 1934
• Absorbed by The First State Bank of Osborne

In April 1886, E.F. Robinson, vice president of the Exchange National Bank, was absent on a visit to eastern cities to order the necessary furniture and fixtures for the new bank building. Richolson & Company had the contract for furnishing lumber for the new Exchange National Bank building and Baldwin & Company's drug store.

In January 1890 the directors were Geo. W. Walrath, W.H. Goodlad, W.P. Watson, E.F. Robinson, S.P. Crampton, Chas. Herzog, and W.W. Watson. The officers were W.W. Watson, president; E.F. Robinson, vice president; and S.P. Crampton, cashier. The bank had authorized capital of $100,000 and paid-up capital of $60,000.

Edwin Frederick Robinson was born in Erie County, Ohio, May 28, 1850, where he lived on a farm until his 14th year, moving to Coldwater Michigan. He entered Hillsdale College and remained two years and in 1868 came to Kansas and located in Wabaunsee County where he was engaged as a teacher in public schools until 1871. He was elected secretary of the State Teachers' Association in 1871 and president in 1872. He went to Concordia in 1874 and was in charge of the State Normal School until 1876 when the legislature failed to make an appropriation and the school was discontinued. He then moved to Kirwin, Kansas and was engaged in the practice of law until 1881 when he, with H.J. Cameron and W.A. Reeder, established the Phillips County Bank which consolidated with the bank at logan in June of the same year. He continued in the bank at Logan until 1882 when he withdrew and in connection with J.R. Loomis, established the Bull City Bank. In December 1883, Mr. Robinson came to Osborne and with Hon. W.W. Watson established the Exchange Bank. A year later they organized the Exchange National Bank, Mr. Robinson being elected vice president of the institution, a position he filled continuously up to the time of his death. For several years he sought to improve his health, first on the Atlantic coast, then departing for the West, stopping for a time in New Mexico and Arizona and then going to California, spending the past year in the city of Los Angeles. He died on December 11, 1900, in Los Angeles. He was a member of the I.O.O.F. and a Mason of high degree belonging to the Knights Templar.

In April 1901, at a meeting of the directors of the Exchange National Bank of Osborne, M.E. Smith was elected a director and also made assistant cashier and began active work on May 1st. Hon. Chris. Smith of Lawrence Township who was already a director and M.E. Smith purchased some of the stock owned by the late E.F. Robinson. The position of vice president held by E.F. Robinson at the time of his death had not yet been filled.

In August 1906, the First State Bank of Alton, Osborne County, capital $10,000, received a charter. The officers were E.A. Stephenson, president; Wm. Chace, cashier; and W.L. Earl, assistant cashier. The direcors were Henry Neuschwanger, Jack Crumrine, T.M. Walker, Wm. Chace, E.A. Stephenson, R.H. Bates, and G.W. Basham.

In July 1916, Bertha Arthur took the place vacated by Leon Van Scyoc in the Exchange National Bank.

In January 1917, the officers were O.M. Madison, president; W.G. Tindal, vice president; R.D. Bicknell, cashier; L.E. Latham, assistant cashier; Miss Bertha Arthur, bookkeeper. The other members of the board were John Guess and George Bicknell.

In September 1919, the officers were O.M. Madison, president; R.D. Bicknell, cashier; and Bertha Arthur-Bottorff, assistant cashier.

In January 1921, the Exchange bank's board of directors and officers were all re-elected as follows: O.M. Madison, president; W.G. Tindal, vice president; R.D. Bicknell, cashier; C.M. Smith, John Guess, Miss Lola Bicknell, and Raymond Madison, assistant cashiers.

In April 1934, The First State Bank of Alton moved to Osborne and the Exchange National Bank of Osborne consolidated with it according to an announcement by the state bank commissioner. The new Osborne institution would have a capital of $30,000 and resources of $364,000. H.A. Storer was president and C.K. Glenn, cashier.

In May 1934, the greatest robbery in the history of Osborne occurred when the R.M. Raney Drug and Jewelry Store was entered by burglars who took jewelry and other articles valued at between $2,500 and $3,000. It was thought to be the work of amateurs as the cash register and safe, although tampered with, were not opened.

In February 1960, R.M. Raney, a former Council Grove resident, purchased the Crown drug store in Emporia. The new owner was known as Dick Raney, a cousin of Mrs. Anna Hill. The Emporia Store was the 11th in the Raney chain. Beginning with an Osborne store 49 years ago he now operated drug units in Wichita, Ottawa, Lawrence, Colby, Norton, Beloit, Tipton, and Clifton. W.R. Bisenbark, Crown manager, was retained as assistant manager.

In June 1967, the Kansas Banking Board issued a charter for a new bank in Lawrence. It was the University State Bank, located in the Hillcrest shopping center. The organizers included former University of Kansas football coach Jack Mitchell. The others were Ned Cushing of Downs and the following Lawrence residents: Jack Brand, R.H. Raney, R.M. Raney, Bob Harrison, Neal McCaskey, Dr. Penfield Jones, Dr. Richard Nelson, Bill Parrott, Rusty Springer and Ben Barteldes.

Official Bank Title

1: The Exchange National Bank of Osborne, KS

Bank Note Types Issued

1902 Date Back $10 bank note with pen signatures of R.A. Bicknell, Cashier and W.G. Tindall, vice president. Courtesy of Heritage Auctions, www.ha.com

1902 Plain Back $20 bank note with pen signatures of Lola Bicknell, Assistant Cashier and W.G. Tindal, Vice President. Courtesy of Heritage Auctions, www.ha.com

1929 Type 1 $10 bank note with printed signatures of R.G. Madison, Cashier and R.M. Raney, president. Courtesy of Heritage Auctions, www.ha.com

A total of $720,760 in National Bank Notes was issued by this bank between 1886 and 1934. This consisted of a total of 58,075 notes (48,552 large size and 9,523 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 - 1627
1902 Red Seal	3x10-20	1 - 270
1902 Date Back	3x10-20	1 - 4150
1902 Plain Back	3x10-20	4151 - 10241
1929 Type 1	6x10	1 - 1186
1929 Type 1	6x20	1 - 298
1929 Type 2	10	1 - 544
1929 Type 2	20	1 - 75

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1886 - 1934):

Presidents:

• Winfield Washington Watson, 1886-1889
• Joseph Rose Loomis, 1890-1905
• William Henry Smith, 1906-1907
• John A. Morton, 1908-1910
• William Gordon Tindal, 1911-1912
• Oscar M. Madison, 1913-1928
• Richard M. "Dick" Raney, 1929-1933

Cashiers:

• Stephen Palmer Crampton, 1886-1905
• Raymond Dell Bicknell, 1906-1928
• Raymond George Madison, 1929-1933

Other Known Bank Note Signers

• Lola Belle Bicknell (Asst Cashier 1920...1927)

Bank Note History Links

• Exchange National Bank, Osborne, KS History (NB Lookup)
• Kansas Bank Note History (BNH Wiki)

Sources

• Osborne, KS, 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