Exchange National Bank, Rome, GA (Charter 10303)
Exchange National Bank, Rome, GA (Chartered 1912 - Liquidated 1925)
Town History
Rome is the largest city in and the county seat of Floyd County, Georgia. Located in the foothills of the Appalachian Mountains, it is the principal city of the Rome, Georgia, metropolitan statistical area, which encompasses all of Floyd County. At the 2020 census, the city had a population of 37,713 making it the largest city in Northwest Georgia and the 26th-largest city in the state. In 1900 the population was 7,291 growing to 21,843 by 1930.
Rome was founded in 1834, after Congress passed the Indian Removal Act, and the federal government committed to removing the Cherokee and other Native Americans from the Southeast. It developed on former indigenous territory at the confluence of the Etowah and the Oostanaula rivers, which together form the Coosa River.
The city has developed on seven hills with the rivers running between them, a feature that inspired the early European-American settlers to name it for Rome, the longtime capital of Italy that was also built on seven hills. The American Rome developed in the antebellum period as a market and trading city due to its advantageous location on the rivers. It shipped the rich regional cotton crop downriver to markets on the Gulf Coast and export overseas.
Rome had six National Banks chartered during the Bank Note Era, and all six of those banks issued National Bank Notes.
Bank History
- Organized December 19, 1912
- Chartered December 26, 1912
- Succeeded Exchange Bank of Rome
- Absorbed 9636 July 15, 1916 (Cherokee National Bank, Rome, GA)
- Liquidated July 11, 1925
- Absorbed by 10302 (National City Bank, Rome, GA)
In January 1896, Secretary Candler granted a charter to the Exchange Bank of Rome. The incorporators were W.P. Simpson, J.A. Glover, and C.A. Hightower, and the capital stock was $50,000.
On September 21, 1901, Governor Candler issued an order making the Exchange Bank of Rome a state depository for the term of four years. The appointment was made upon the condition that the bank execute a good and sufficient bond in the sum of $50,000 to indemnify the state of any loss that might occur.
In August 1912, J.A. Glover was elected president of the Exchange Bank to succeed W.P. Simpson, deceased. Mr Glover had been vice president of the bank for a number of years and was also at the head of the Simpson Grocery Company. Thomas J. Simpson, a son of the deceased and the vice president of the American Bank and Trust Company, was elected vice president.
On December 26, 1912, charters were issued to The National City Bank of Rome, Georgia, capital $100,000, John M. Graham, president, George C. Beysiegel, cashier; and the Exchange National Bank of Rome, Georgia, capital $150,000, J.A. Glover, president, W.W. Berry, cashier. The Exchange National succeeded the Exchange Bank of Rome.
On June 27, 1916, the directors of the Exchange National Bank and the Cherokee National Bank, two of the largest and strongest financial institutions in Rome, announced their consolidation, the Exchange National taking over the assets of the Cherokee National. The officers of the Exchange would remain as follows: J.A. Glover, president; T.J. Simpson, vice president and W.W. Berry, cashier. The officers of the Cherokee National were H.E. Kelley, president, and B.F. Hale. The Cherokee National was located on Broad Street.
On July 7, 1922, Captain John A. Glover, aged 76 years, one of the area's most distinguished citizens and capitalists, died at a local hospital after an illness of three weeks. Captain Glover, president of the Exchange National Bank, one of the largest financial institutions in northwest Georgia, was prominently identified with the growth and development of Rome. He was one of the organizers of the Fifth Avenue Baptist Church in which he had served as a deacon for 42 years. Coming to Rome from Alabama in 1867, he enjoyed a long and successful life. He possessed a genial and kindly natures. Four sons and two daughters all of Rome survived him.
On July 18, 1922, at a meeting of the board of directors, O. Willingham, one of the vice presidents, was elected president to fill the vacancy caused by the death of J.A. Glover. Mr. Willingham had been vice president of the bank for the past year and a half. Junius Simpson remained as vice president, a position he held for a number of years. Holmes Smith, local capitalist and large stockholder was elected a vice president filling the place held by Mr. Willingham.
On Wednesday, May 6, 1925, O. Willingham, president of the Exchange National Bank of Rome, one of the largest financial institutions in northwest Georgia, died from surgical complications. Holmes Smith, vice president of the same institution, was seriously injured in an automobile accident. Mr. Willingham was operated on Saturday for slight sinus trouble and expected to be back at his desk on Monday. Mr. Smith left for a fishing trip to the Round Mountain, Alabama. Blood poisoning followed Mr. Willingham’s operation and when his condition became serious, he sent for Mr. Smith to have a talk with him before he died, the doctors having advised Mr. Willingham that he had little chance to recover. Mr. Smith, rushing to Rome in a high-powered car, between Round Mountain and Cedar Bluff, Alabama, ran into Little River where a bridge had been torn away. A youth by the name of Hall was drowned when the car plunged into the river, Mr. Smith seriously injured, and E.B. Slaton, one of the most prominent cotton men in this section, was so seriously injured that his recovery was doubtful.
On June 25, 1925, John M. Graham announced that Walter B. Cothran, secretary-treasurer of Towers-Sullivan Company since 1909 was elected vice president of the National City Bank and would assume his duties immediately after the Exchange National Bank had been consolidated with the National City Bank in July. The addition of Mr. Cothran would cause no other change in the personnel, Louis N. Shahan, Jr., recently elected vice president to succeed C.P. Willingham who resigned, would continue in that position without being actively engaged in work at the bank. Mr. Cothran was added to the staff of the bank because of the enlarged business expected after the consolidation. Mr. Cothran was a native of Rome and was regarded as one of the most successful businessmen of the city.
Official Bank Title(s)
1: The Exchange National Bank of Rome, GA
Bank Note Types Issued
A total of $1,324,700 in National Bank Notes was issued by this bank between 1912 and 1925. This consisted of a total of 166,192 notes (166,192 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 - 4000 1902 Date Back 3x10-20 1 - 3400 1902 Plain Back 4x5 4001 - 25090 1902 Plain Back 3x10-20 3401 - 16458
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1912 - 1925):
Presidents:
Cashiers:
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Rome, GA, Wikipedia, https://en.wikipedia.org/wiki/Rome,_Georgia
- 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
- Capitoline Wolf, City Hall, Rome, Georgia.
- The Morning News, Savannah, GA, Sun., Jan. 12, 1896.
- The Atlanta Constitution, Atlanta, GA, Mon., Sep. 23, 1901.
- Atlanta Georgian, Atlanta, GA, Sat., Aug. 17, 1912.
- The Wall Street Journal, New York, NY, Mon., Dec. 30, 1912.
- The Atlanta Constitution, Atlanta, GA, Wed., June 28, 1916.
- The Atlanta Constitution, Atlanta, GA, Sat., July 8, 1922.
- The Atlanta Constitution, Atlanta, GA, Wed., July 19, 1922.
- Chattanooga Daily Times, Chattanooga, TN, Thu., May 7, 1925.
- The Atlanta Constitution, Atlanta, GA, Fri., June 26, 1925.