Farmers and Mechanics NB, Georgetown, DC (Charter 1928)
Farmers and Mechanics NB, Georgetown, DC (Chartered 1872 - Closed 1928)
Town History
Georgetown is a historic neighborhood, and commercial and entertainment district located in Northwest Washington, D.C., situated along the Potomac River. Founded in 1751 in the Province of Maryland, the port of Georgetown predated the establishment of the federal district and the City of Washington by 40 years. Georgetown remained a separate municipality until 1871 when the United States Congress created a new consolidated government for the whole District of Columbia. A separate act, passed in 1895, specifically repealed Georgetown's remaining local ordinances and renamed Georgetown's streets to conform with those in the City of Washington.
The primary commercial corridors of Georgetown are the intersection of Wisconsin Avenue and M Street, which contain high-end shops, bars, restaurants, and the Georgetown Park enclosed shopping mall. The Washington Harbor waterfront restaurants are located to the south on K Street, between 30th and 31st Streets.
Georgetown is home to the main campus of Georgetown University and numerous other landmarks, such as the Volta Bureau and the Old Stone House, the oldest house in Washington. The embassies of Cameroon, France, Iceland, Liechtenstein, Mongolia, Sweden, Thailand, Ukraine and Venezuela are located in Georgetown.
Georgetown had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized January 15, 1872
- Chartered January 24, 1872
- Succeeded Farmers and Mechanics Bank
- 2: Closed December 15, 1928
- 2: Consolidated with 5046 December 15, 1928 (Riggs National Bank, Washington, DC)
- 2: Circulation assumed by 5046 (Riggs National Bank, Washington, DC)
The Farmers' and Mechanics' Bank of Georgetown had its origin in 1814 as a company or limited partnership by the name or style of the President and Directors of the Farmers' and Mechanics' Bank of Georgetown, transacting a general banking business in that town. Minutes of a meeting held February 15, 1814, shows directors present as William Marbury, James Melvin, George C. Washington, Thomas Turner, Romulus Riggs, T.B. Beall, John Lee, Leonard H. Johns, Thomas Robertson, and Charles W. Goldsborough. William Marbury was elected president and Clement Smith, cashier. A committee was appointed "to prepare a memorial to Congress requesting an act of Incorporation." Proposals were invited for a banking house or site for the bank. At the following meeting on March 1, 1814, the proposal of Mr. John Peter to sell his house, corner of Bridge and Congress Streets for $14,000 was accepted. Mr. Marbury remained president until 1817 and was succeeded by Thomas B. Beall who was succeeded by Clement Smith in 1820.[2]
The statement of the affairs of the Farmers and Mechanics Bank of Georgetown, dated December 31, 1842, reported Capital stock $309,317, Circulation $19,825, Due to depositors $77,188.03, Profits $58,692 and total resources of $506,397.92. J.I. Stull was cashier.
TABLE. Banks and “financial" establishments, reported within the limits of the District of Columbia. From the New York Counterfeit Detector for October 1852.
| Bank | Location | President | Cashier | Haxby DC-# |
|---|---|---|---|---|
| American Exchange Bank | Georgetown | |||
| Bank of America | Washington | George Smith | ||
| Bank of the City | Washington | |||
| Bank of Commerce | Georgetown | C.R. Rittenhouse | Hugh B. Sweeny | |
| Bank of the Metropolis | Washington | John W. Maury | Richard Smith | 290 |
| Bank of the Republic | 350 | |||
| Bank of the Union | Washington | R.H. Gallaher | S.W. Marsh | 360 |
| Bank of Washington | Washington | William Gunton | James Adams | |
| Central Bank | Washington | |||
| Columbia Bank | Washington | 195 | ||
| Citizens' Bank | Washington | 180 | ||
| City Bank | Washington | J. Bradley | W.T.C. Grower | 185 |
| Eastern Bank | Washington | J.B. Coddington | J.S. Combs | 220 |
| Empire Bank | Georgetown | |||
| Exchange Bank of Selden, Withers & Co. | Washington City | W. Selden | W.C. Bestor | |
| Farmers' and Mechanics' Bank | Georgetown | Robert Read | William Laird, Jr. | 90 |
| Farmers' and Merchants' Bank | Washington | 235 | ||
| Freeman's Bank | 245 | |||
| Fulton Bank | Washington | |||
| Manufacturers' Bank | Georgetown | |||
| Mechanics' Bank | Georgetown | G. Meyers | F.W. Couch | 115 |
| Merchants' Exchange Bank | Washington | Thos. Morris | A.H. Wilson | |
| Merchants' and Mechanics' Bank | Washington | |||
| Merchants' Bank | Washington | W.R. Evans | J.F. Bell | 275 |
| Metropolitan Bank | 295 | |||
| National Bank | Washington | J.B. Latham | J.C. Very | 300 |
| Ocean Bank | Washington | 315 | ||
| Patriotic Bank of Washington | Washington | G.C. Grammer | Chauncey Bestor | 320 |
| Potomac Savings Bank | Washington | John F. Callan | T.M. Hanson | |
| Railroad Bank | ||||
| Southern Manufacturers' Bank | Washington | C.H. Purcell | 355 |
On Monday, July 3, 1865, the following gentlemen were elected directors of the Farmers' and Mechanics' Bank of Georgetown: George Shoemaker, Evan Lyons, H.M. Sweeny, John Dickson, John Davidson, Esan Pickrell, W.C. Magee, Samuel Cropley, and C.M. Matthews.
On January 24, 1872, The Farmers' and Mechanics' Bank of Georgetown was authorized by the Comptroller of the Currency to commence business as a national bank and the bank would hereafter be known as "The Farmers and Mechanics National Bank of Georgetown, District of Columbia."
On Tuesday, January 14, 1896, the following were elected directors: Henry M. Sweeny, S. Thomas Brown, Philip May, M.J. Adler, A.B. Jackson, Louis D. Wine, George W. Cissel, S.C. Palmer, and C.H. Cragin.
On August 28, 1896, Henry M. Sweeny, one of the oldest and best-known residents of Georgetown died at his residence, 3265 N Street after an illness of some time. He was the last Mayor of Georgetown 1869-1871 when Congress created a territorial government headed by a governor appointed by the President. On June 7, 1860, he became a director of the Farmers and Mechanics Bank and eventually became the president in 1865. He served 31 terms as president. In 1889 he was elected president of the Potomac Fire Insurance Company of Georgetown. In September, Mr. S. Thomas Brown was elected president after a considerable amount of rivalry. Mr. Maurice J. Adler was elected to fill the vice presidency caused by the promotion of Mr. Brown, while Mr. A.B. Jackson, president of the First Co-operative Building Association, was elected to the office of secretary, vice Mr. Adler. Mr. J. Edward Libbey was elected a member of the board to fill the vacancy caused by the death of Mr. Sweeny.
On Tuesday, January 14, 1913, stockholders elected the following directors: Joseph H. Bradley, S. Thomas Brown, Robert D. Weaver, J.H. Small, Jr., J.E. Dyer, C.H. Cragin, William King, G.L. Nicholson, and Richard B. Simms. On February 27, 1913, at a meeting of the directors, the vacancy caused by the death of the president, S. Thomas Brown, was filled by electing William King, the first vice president. Robert D. Weaver, second vice president was made first vice president and J.H. Small, Jr., was chosen second vice president.
On Tuesday, January 13, 1925, stockholders re-elected the following directors: J. McKenney Berry, J.E. Dyer, Dr. Wm. C. Gwynn, Wm. King, Jos. H. Lee, J. Wilbur Sherwood, Julian M. Walters, Robert D. Weaver, Chas. H. Cragin, Henry W. Fisher, Harry V. Haynes, G.L. Nicolson, Thos. J. Stanton, and Raymond J. Wise. At the close of 1924, the bank had capital of $252,000, Surplus of $298,000, Undivided profits $100,447.08 Circulating of $240,500 and total assets of $4,369,644. H.L. Shelby was cashier.
On March 30, 1927, President Harry V. Haynes announced plans for the erection of a bank building in Tenleytown, at Warren and Thirty-ninth streets and Wisconsin Avenue, the charter for this branch having just been granted by Controller J. W. MacIntosh. Request was made for the right to establish the branch about a year ago but Controller Macintosh would allow no additional branches in Washington while the McFadden banking bill was pending in Congress. This was the first ruling in Washington since the passage of the bill. In addition to Mr. Haynes, the officers included Robert D. Weaver and G.L. Nicholson, vice presidents; Harry L. Selby, cashier; Harold W. Burnside, assistant cashier; Henry W. Sohon, counsel and trust officer, and I.W. Hopkins, auditor. In November, C. Howle Young and W. Edmund Freeman were advanced to assistant cashiers. With completion of the new branch bank soon to be opened on Wisconsin Avenue and M Street, Mr. Freeman was designed as the manager of the new branch which would be known as the Friendship branch. He joined the Farmers and Mechanics staff several months earlier after long service with the Potomac Savings Bank.
On November 2, 1928, stockholders of the Riggs National Bank and the Farmers & Mechanics National Bank in Georgetown, ratified the consolidation proposal approved by the directors some time ago, thereby consolidating these two widely known financial institutions. All that remained was the completion of necessary details in connection with the payment of subscriptions to the increased capital stock of the Riggs National. Warrants were being issued to stockholders of both institutions representing their rights to subscribe to the increased capital. The Riggs National would have a capital of $3,000,000, surplus of $2,750,000, undivided profits of about $5,000,000 and deposits near $50,000,000. Since the first announcement of the plan to consolidate the two banks, the deposits of the Farmers & Mechanics, for the first time in its history, passed the $4,000,000 mark. Riggs deposits on the October 3 call were $45,818,560. The board of directors of the Farmers & Mechanics National were asked by President Fleming to act as an advisory capacity in connection with the Georgetown Bank, which became a branch along with the branch at Friendship. As a result of the consolidation Riggs had six branches, the others being at Fourteenth Street and Park road, Dupont Circle, Seventh and I Streets, and Eighteenth Street and Columbia Road. The directors of the Farmers & Mechanics National were William M. Beall, J. McKenney Berry, Charles H. Cragin, Joseph H. Cranford, Henry W. Fisher, William C. Gwynn, William King, Joseph H. Lee, G.L. Nicholson, J. Wilbur Sherwood, Thomas J. Stanton, Julian M. Walters, Robert D. Weaver, Raymond J. Wise, and Hilleary G. Hoskinson. This merger was one of the most important ever to occur in Washington and the first since the Security Savings & Commercial Bank took over the Central Savings Bank two years earlier.
Official Bank Title(s)
1: The Farmers and Mechanics National Bank of Georgetown, DC
2: The Farmers & Mechanics National Bank of Washington, DC (1/14/1925)
Bank Note Types Issued
A total of $6,079,350 in National Bank Notes was issued by this bank between 1872 and 1928. This consisted of a total of 590,700 notes (590,700 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 1: Original Series 4x5 1 - 250 1: Original Series 3x10-20 1 - 6000 1: Original Series 50-100 1 - 300 1: Series 1875 4x5 1 - 4250 1: Series 1875 3x10-20 1 - 10915 1: 1882 Brown Back 3x10-20 1 - 28800 Plate letters A-B-C $10 with abnormal border and D-E-F with normal border and hidden star 1: 1882 Date Back 3x10-20 1 - 8680 1: 1902 Date Back 3x10-20 1 - 13000 1: 1902 Plain Back 3x10-20 13001 - 48400 2: 1902 Plain Back 4x5 1 - 40230 Only plate to carry town name of Washington, DC
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1872 - 1928):
Presidents:
- Henry M. Sweeny, 1872-1895
- Stephen Thomas Brown, 1896-1913
- William King, 1913-1918
- Harry Vincent Haynes, 1919-1927
Cashiers:
- William Laird, Jr., 1872-1890
- Edgar Peter Berry, 1891-1905
- Charles W. Edmonston, 1906-1918
- Harry Lodge Selby, 1919-1927
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
- Farmers and Mechanics NB, Georgetown, DC History (NB Lookup)
- District of Columbia Bank Note History (BNH Wiki)
Sources
- Georgetown, DC, 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
- Alexandria Gazette, Alexandria, VA, Wed., Jan. 25, 1843.
- Daily American Telegraph, Washington, DC, Wed., Oct. 6, 1852.
- Evening Star, Washington, DC, Wed., July 5, 1865.
- Evening Star, Washington, DC, Sat., Jan. 27, 1872.
- Evening Star, Washington, DC, Tue., Jan. 14, 1896.
- The Evening Times, Washington, DC, Sat., Aug. 29, 1896.
- Evening Star, Washington, DC, Thu., Sep. 10, 1896.
- Evening Star, Washington, DC, Tue., Jan. 14, 1913.
- Evening Star, Washington, DC, Fri., Feb. 28, 1913.
- Evening Star, Washington, DC, Sat., Jan. 10, 1925.
- Evening Star, Washington, DC, Tue., Jan. 13, 1925.
- Evening Star, Washington, DC, Wed., Mar. 30, 1927.
- Evening Star, Washington, DC, Thu., Nov. 3, 1927.
- Evening Star, Washington, DC, Fri., Nov. 2, 1928.