FNB of Brockwayville/FNB of Brockway, Brockway, PA (Charter 5497)

Postcard of the First National Bank of Brockwayville, Pennsylvania, ca1900s. Courtesy of Adam Stroup

FNB of Brockwayville/FNB of Brockway, Brockway, PA (Chartered 1900 - Liquidated 1931)

Town History

A 1904 advertisement for the First National Bank of Brockwayville, Pennsylvania.

Brockway is a borough in Jefferson County, Pennsylvania. It is located in northeastern Jefferson County in the valley of Little Toby Creek, a north-flowing tributary of the Clarion River and part of the Allegheny River watershed. The population was 2,072 at the 2010 census.

The community was laid out as "Brockwayville" in 1836. The borough was named for Alonzo and John S. Brockway, who came to the site in 1822. A post office called "Brockwayville" was established in 1829, and the name of the post office was changed to "Brockway" in 1925.

The Brockway Glass Company Inc. was founded in 1907 by the Brockway Machine Bottle Company (which later became Brockway Glass). Brockway manufactured and sold glass containers and tubing, along with plastic products manufactured through wholly owned subsidiaries. In 1964 Brockway bought several Hazel-Atlas Glass Company factories from the Continental Can Company as part of a lawsuit settlement. In 1987 Owens-Illinois made a bid of $60 per share (worth $750 million) to acquire Brockway, which was met with resistance by the Federal Trade Commission. After a federal district judge denied the FTC's request for an injunction, Owens-Illinois acquired Brockway's shares.

Brockway had two National Banks chartered during the Bank Note Era, and one of those banks issued National Bank Notes.

Bank History

Organized June 3, 1900
Chartered July 12, 1900
2: Liquidated September 14, 1931
2: Succeeded by 13566 (First National Bank in (No Issue), Brockway, PA)
2: Acquired by the Deposit National Bank of DuBois, PA (Charter 5019), October 13, 1931
2: Receivership February 11, 1932

The Brockwayville Bank was established February 18, 1889 with R.L. Buzard providing the principal financial backing along with a number of other financiers. Jacob Truby was arrested on November 22, 1889 for obtaining some $430 from the bank on false pretenses. The case likely was a difficult one to prosecute as Truby had a deposit in the bank for some time and his defense no doubt was that he simply overdrew his account.

In 1892, the Brockwayville bank's assistant cashier was Miss Katharine Murphy. In 1896, the bank advertised capital of $25,000 and surplus of $10,000 with C.H. Marshall as cashier. The stockholders were R.L. Buzard, W.G. McCain, W.H. Hyde, Eliza A. Hall, C.H. McCauley, M.S. Kline and J.S. Powell. Stockholders of the old Brockwayville banking house and the promoters of the new national bank went in together under national banking laws with capital of $35,000. The new concern was called the First National Bank of Brockwayville and it continued the business of the old concern. The new officers were R.L. Buzard, president; S.C. Bond, vice president; C.H. Marshall, cashier. The directors were R.L. Buzard, S.C. Bond, Robert Humphreys, Robert W. Beadle, and Albert R. Chapin.

In July 1900, stockholders of the old Brockwayville banking house and the promoters of the new national bank went in together under national banking laws with capital of $35,000. The new concern was called the First National Bank of Brockwayville and it continued the business of the old concern. The new officers were R.L. Buzard, president; S.C. Bond, vice president; C.H. Marshall, cashier. The directors were R.L. Buzard, S.C. Bond, Robert Humphreys, Robert W. Beadle, and Albert R. Chapin.

In January 1903, stockholders elected the following officers: S.C. Bond, president; Robert Humphreys, vice president; C.H. Marshall, cashier. The directors were R.L. Buzard, Robert Humphreys, A.R. Chapin, R.W. Beadle, and S.C. Bond. The bank had $35,000 in Capital and $8,000 in Surplus.

In 1904, J.L. Bond was elected a director to replace the late R.L. Buzard.

On January 8, 1907, the directors elected were S.C. Bond, Robert Humphreys, R.W. Beadle, J.L. Bond, and C.H. Marshall.

On January 11, 1915, stockholders elected the following directors: S.C. Bond, Robert Humphreys, J.L. Bond, Geo. M. Beadle, Geo. H. Humphreys, J.S. Cooper, and A.R. Chapin. The directors re-elected A.R. Chapin cashier and James McKay, assistant cashier. In retiring as president of the bank, S.C. Bond, who is cashier of the DuBois National Bank, sent a letter to express his inability to serve any longer due to too many outside business interests that commanded his attention. Robert Humphreys was selected as the new president and James L. Bond as vice president. Mr. Humphreys had been identified with the bank since it was organized and was vice president for many years. In addition to paying the annual dividend of 12%, the bank showed its capital stock, surplus and undivided profits exceeding $100,000 which places it in excellent financial shape given a capital of $35,000.

On January 14, 1930, the annual stockholders' meeting was held with all but 23 shares of the stock represented. W.H. Mayes, cashier, gave a thorough report in regards to earning and developments during the past year. While the deposits at the end of the year were slightly off from that of the previous years, it was showed this was merely a result of the condition of the times. The total number of checking and savings accounds had increased. The officers were A.R. Chapin, president; George H. Humphreys, vice president and chairman of the board; W.H. Mayes, cashier; Loretta G. Romeo, assistant cashier; Earl M. Oldnow, assistant cashier; and J. Orvetta Harris, Bookkeeper. The directors elected were S.C. Bond, A.R. Chapin, J.S. Cooper, F.A. Humphreys, George H. Humphreys, W.H. Mayes, and R.L. Warren.

The First National Bank in Brockway (Charter 13566)

The First National Bank in Brockway, Charter 13566, reorganized with an increase of capital stock from $35,000 to $65,000 and a surplus of $35,000. The bank was successful in interesting a number of new stockholders in the reorganization. At a meeting held on Wednesday, July 29th, a new board of directors was appointed to serve for the reorganized bank. This board consists of: R.W. Beadle, S.C. Bond, W.H. Mayes, R.L. Warren, G.A. Mengle, D.U. Marshall and J.B. Warren. The newly elected officers were: R.W. Beadle, president; R.L. Warren, vice president, and W.H. Mayes, cashier. The action of increasing the capital stock of the bank and securing additional stockholders was only the first step that was taken toward giving Brockway a much stronger banking institution in which the interests of the depositors could be taken care of and protected to the fullest extent. Following several weeks' negotiations the officers of the First National Bank and officers of the Citizens Banking and Trust Company arrived at a plan to merge the two banks after completing the reorganization of the First National Bank. At the meeting on Wednesday the opinion was advanced that two banks were unnecessary in a town the size of Brockway and it was the idea of all present that the negotiations already under way between the two banks should be concluded and a merger affected in the near future. Representatives of the Citizens Banking and Trust Company were then asked to meet with those present at the reorganization meeting of the First National Bank and it was their opinion that this course would be the best for all concerned and that both stockholders and depositors would profit thereby.

On October 13, 1931, The First National Bank in Brockway was taken over by the Deposit National Bank of DuBois, the transaction involving transfer of approximately a million dollars. Assistance in completing the negotiations was given by other DuBois, Brockway and Brookville banks. The clerical force of the Brockway bank were to come to DuBois where business of both banks would be handled. W.H. Mayes began liquidating remaining assets of the First National Bank.

Receivership

On April 1, 1932, two notices appeared in the Brockway Record from the Comptroller of the Currency. In the first, stockholders in The First National Bank in Brockway were assessed and requisitioned for $65,000 to be paid on or before the 11th. F. William Lensing, the Receiver, was directed to take all necessary proceedings by suit or otherwise to enforce the liability of the shareholders. In the second, shareholders in the First National Bank of Brockway were assessed and requisitioned $35,000 to be paid on or before the 11th and again, F. William Lensing, the Receiver was directed to take all necessary proceedings by suit or otherwise to enforce the liability of the shareholders.

Official Bank Title(s)

1: The First National Bank of Brockwayville, PA

2: The First National Bank of (4/24/1929), Brockway, PA

Bank Note Types Issued

1882 Brown Back $5 bank note with stamped signatures of A.R. Chapin, Cashier and Robert Humphreys, President. Courtesy of Heritage Auctions, www.ha.com

1902 Plain Back $10 bank note with printed signatures of W.H. Mayes, Cashier and J.L. Bond, President. Courtesy of Heritage Auctions, www.ha.com

A total of $667,170 in National Bank Notes was issued by this bank between 1900 and 1931. This consisted of a total of 87,876 notes (78,444 large size and 9,432 small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type	Sheet/Denoms	Serial#s	Sheet Comments
1: 1882 Brown Back	4x5	1 - 1845
1: 1882 Brown Back	3x10-20	1 - 1552
1: 1882 Date Back	4x5	1 - 3050
1: 1882 Date Back	3x10-20	1 - 2160
1: 1882 Value Back	4x5	3051 - 4750
1: 1882 Value Back	3x10-20	2161 - 3060
1: 1902 Plain Back	4x5	1 - 4738
1: 1902 Plain Back	4x10	1 - 3666
2: 1929 Type 1	6x5	1 - 1035
2: 1929 Type 1	6x10	1 - 537

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1900 - 1931):

Presidents:

Cashiers:

Other Bank Note Signers

There are currently no known Vice President or Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

Brockway, PA, 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 Dispatch, Pittsburgh, PA, Sun., Nov. 24, 1889.
The Jeffersonian-Democrat, Brookville, PA, Thu., Apr. 21, 1892.
The Brockway Record, Brockway, PA, Fri., June 19, 1896.
The Jeffersonian-Democrat, Brookville, PA, Thu., July 26, 1900.
The Brockway Record, Brockway, PA, Fri., Feb. 20, 1903.
The Brockway Record, Brockway, PA, Fri., Jan. 29, 1904.
The Brockway Record, Brockway, PA, Fri., Dec. 15, 1905.
The Brockway Record, Brockway, PA, Fri., Jan. 11, 1907.
The Brockway Record, Brockway, PA, Fri., Jan. 15, 1915.
The Courier-Express, Dubois, PA, Fri., Jan. 17, 1930.
The Pittsburgh Press, Pittsburgh, PA, Tue., Oct. 13, 1931.
Shamokin Daily News, Shamokin, PA, Tue., Oct. 13, 1931.
The Brockway Record, Brockway, PA, Fri., Apr. 1, 1932.