Farmers National Bank, Granville, NY (Charter 3154)
Farmers National Bank, Granville, NY (Chartered 1884 - Receivership 1932)
Town History
Granville is a town on the eastern border of Washington County, New York, abutting Rutland County, Vermont. The town was founded in 1780. It is part of the Glens Falls Metropolitan Statistical Area. The town population was 6,215 at the 2020 census. In 1870, the population was 4,063 with an early peak in 1910 at 6,434. That level would not be reached again until 2000 when the population was 6,456.
The town of Granville contains a village that also bears the name Granville. Granville is named for John Carteret, 2nd Earl Granville. Granville has been called the "Colored Slate Capital of the World." Quarries in the town mine slate that comes in colors such as green, gray, gray black, purple, mottled green and purple, and red.
Granville had four National Banks chartered during the Bank Note Era, The National Bank of Granville (Charter 2294), Farmers National Bank (Charter 3154), Granville National Bank (Charter 4985), and Washington County NB (Charter 7255), and all four of those banks issued National Bank Notes.
Bank History
- Organized March 20, 1884
- Chartered April 12, 1884
- Receivership January 18, 1932
On April 12, 1884, the comptroller of the currency authorized the Farmers National Bank of Granville to begin business with a capital of $50,000.
On Tuesday, January 11, 1921, the stockholders elected the following directors: F.B. Pember, H.J. Stevens, S.C. Sheldon, R.E. Warren, J.E. Norton, E.R. Norton, E.R. Haskins, J.H. Pember, J.H. Andrus, T.B. Townsend. The officers elected were F.B. Pember, president; H.J. Stevens, vice president; and J.H. Pember, cashier.
In January 1927, directors were re-elected as follows: J.H. Andrus, R.M. Hanna, D.R. Haskins, E.R. Norton, H.F. Norton, J.H. Pember, Fred Potter, F.C. Sheldon, H.J. Stevens, and R.E. Warren.
On Tuesday, January 13, 1931, the directors elected were: J.H. Andrus, F.C. Warren, D.R. Haskins, E.R. Norton, H.F. Norton, J.H. Pember, Fred Potter, F.C. Sheldon, H.J. Stevens, V.W. Race. The officers elected were E.R. Norton, president; H.J. Stevens, vice president; J.H. Pember, cashier; J.R. Stevens, E. Temple White and Ernest Hanna, assistant cashiers; and D.R. Haskins, secretary.
In November 1931, John H. Pember announced that a purchase of $15,000 was made in the National Credit Corporation as agreed to by the directors. This was the second Granville bank to have fallen in line with banks in general in entering the corporation to relieve banking problems in this country.
On November 20th, at a special meeting of the board of directors, John H. Pender, cashier, was elevated to the position of first vice president to fill the vacancy caused by the death of Hiram J. Stevens, former treasurer of Washington County. Howard I. Large, formerly of Lowell, Mass., was named to the position of second vice president. Large had been cashier for several years of the Appleton National Bank in Lowell and was once connected with the Federal National Bank Examiners in the Boston area. Eugene R. Norton, prominent Granville slate manufacturer was president.
On January 19th, 1932, A.M. Douglas, national bank examiner in charge of the affairs at the Farmers National Bank announced that H.N.E. Gleason had been appointed receiver for the bank and would take charge of affairs at the bank immediately. The bank closed its doors on January 6th after heavy withdrawals had been made since late last fall.
Due to the merger of the Granville National Bank with the Washington County National, Granville had only one banking institution. In September 1932, a dividend of 25% was issued to the depositors and it was not clear if a second dividend would be forthcoming.
On January 8, 1935, Hiram N.E. Gleason, receiver, started to pay a third dividend of $195,000 to depositors of the Farmers National. This payment represented 18%, bringing total dividend payments to 55 1/2%. The second payment was made in December 1933 and was 12 1/2 percent of the total deposits.
Official Bank Title(s)
1: The Farmers National Bank of Granville, NY
Bank Note Types Issued
A total of $1,350,670 in National Bank Notes was issued by this bank between 1884 and 1932. This consisted of a total of 108,320 notes (94,004 large size and 14,316 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 - 3481 1902 Red Seal 3x10-20 1 - 2400 1902 Date Back 3x10-20 1 - 4540 1902 Plain Back 3x10-20 4541 - 17620 1929 Type 1 6x10 1 - 1845 1929 Type 1 6x20 1 - 541
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1884 - 1932):
Presidents:
Cashiers:
- William D. Temple, 1884-1897
- Hollis Haco Searles, 1898-1900
- Hiram J. Stevens, 1901-1903
- Floyd E. Cole, 1904-1918
- John H. Pember, 1919-1931
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Granville, NY, 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
- Democrat and Chronicle, Rochester, NY, Sun., Apr. 13, 1884.
- The Post-Star, Glens Falls, NY, Wed., Jan. 12, 1921.
- The Post-Star, Glens Falls, NY, Wed., Jan. 12, 1927.
- The Post-Star, Glens Falls, NY, Wed., Jan. 14, 1931.
- The Post-Star, Glens Falls, NY, Mon., Nov. 9, 1931.
- The Post-Star, Glens Falls, NY, Sat., Nov. 21, 1931.
- The Post-Star, Glens Falls, NY, Wed., Jan. 20, 1932.
- The Post-Star, Glens Falls, NY, Sat., Nov. 5, 1932.
- The Post-Star, Glens Falls, NY, Thu., Jan. 17, 1935.