Farmers and Merchants NB, Huntsville, AL (Charter 4689)

Farmers and Merchants National Bank 1882 Brown Back Proof $10 and $20 from the C and A plate positions, respectively, approved Feb. 3, 1892. Courtesy of the Smithsonian Institution Archives.

Farmers and Merchants NB, Huntsville, AL (Chartered 1892 - Liquidated 1905)

Town History

A 1905 advertisement for the Huntsville Bank & Trust Company.

Huntsville is a city in Madison County and Limestone County, Alabama, United States, with a small portion extending into Morgan County. It is the county seat of Madison County. Located in the Appalachian region of northern Alabama, Huntsville is the most populous city in the state.

Huntsville was founded within the Mississippi Territory in 1805 and became an incorporated town in 1811. When Alabama was admitted as a state in 1819, Huntsville was designated for a year as the first capital. Its major growth has taken place since World War II. During the war, the Army established Redstone Arsenal in the vicinity with a chemical weapons plant, and nearby related facilities. After the war, additional research was conducted at Redstone Arsenal on rockets, followed by adaptations for space exploration. NASA's Marshall Space Flight Center, the United States Army Aviation and Missile Command, and most recently the FBI's operational support headquarters all came to be located at nearby Redstone Arsenal.

The Huntsville Depot, completed in 1860, is the oldest extant railroad depot in Alabama and one of the oldest extant depots in the United States. The United States Space & Rocket Center features the United States Space Camp, Aviation Challenge, and the only Saturn V rocket designated a National Historic Landmark.

The city's population was 215,006 at the 2020 census. The Huntsville metropolitan area's population was 491,723 in 2020, making it the second most populous metropolitan area in the state after the Birmingham metropolitan area. In 1890 the population was 7,995, growing to 11,554 by 1930.

Huntsville had four National Banks chartered during the Bank Note Era, and all four of those banks issued National Bank Notes. The banks were the National Bank of Huntsville (Charter 1560), the First National Bank (Charter 4067), Farmers and Merchants National Bank (Charter 4689), and the Henderson National Bank (Charter 8765).

Bank History

Organized January 15, 1892
Chartered January 25, 1892
Liquidated March 16, 1905
Absorbed by Huntsville Svgs & Trust Co, Huntsville

In January 1895, the officers elected were W.I. Wellman, president; S.J. Mayhew, vice president; and E.H. Andrews, cashier.

In January 1898, the directors and officers were re-elected as follows: W.I. Wellman, president; S.J. Mayhew, vice president; A.E. Mastin , assistant cashier; S.J. Mayhew, C.L. Nolen, W.S. Wells, R.M. Church. H.M. Knapp of Bridgeport, Connecticut; T.W. Pratt, and W.I. Wellman, directors.

On Saturday, January 21, 1899, a meeting of citizens was held in the Farmers and Merchants National Bank of Huntsville and steps were taken to secure a permanent military post for the city.  It was decided to raise about $1,000 by popular subscription to send a committee to Washington and have it stay there a month, or until its purpose was accomplished.  For many years after the surrender, a garrison was kept at Huntsville. This army post was located on one of the foot-hills overlooking the country for many miles around.  During the Spanish-American War it was again occupied, the War Department sending 10,000 troops to camp on this old historic ground.  It wouldn't be until WW II when Redstone Arsenal was established.

On Tuesday, January 12, 1904, shareholders elected the following directors: S.J. Mayhew, A.M. Booth, Glenn Wells, Jas. R. Boyd, W.I. Wellman, T.W. Pratt, A.E. Mastin. Officers were re-elected as follows: W.I. Wellman, president; S.J. Mayhew, vice president; Jas. R. Boyd, cashier; A.E. Mastin, assistant cashier. Shareholders of the Huntsville Savings Bank and Trust Company re-elected directors as follows: S.J. Mayhew, A.M. Booth, Lawrence Cooper, M.R. Grace, T.W. Pratt, C.C. Anderson, and Jas. R. Boyd. This institution was less than two years old and the deposits already were more than $53,000.

In January 1905, the officers were W.I. Wellman, president; S.J. Mayhew, vice president; D.W. Boyd, cashier; and A.E. Mastin, assistant cashier. The bank had capital of $100,000, and surplus and undivided profits of $15,609.03.

On January 31, 1905, an announcement was made in letters to the patrons of the Farmers and Merchants National Bank and the Huntsville Bank & Trust Co. The capital of the Huntsville Savings Bank & Trust Co. had been very greatly enlarged. The business of the Farmers and Merchants had been taken over by the Huntsville Bank & Trust Co. Shareholders met on January 10th and accepted the proposition submitted by the Huntsville Savings Bank & Trust Co. to acquire the business of the Farmers and Merchants. The Huntsville Savings Bank and Trust Company changed its name to the Huntsville Bank & Trust Co. and trebled its capital. The officers and employees of the Farmers and Merchants were, with little exception, the officers and employees of the Huntsville Bank and Trust Co., and with the enlarged facilities of the latter, interests of all patrons would be made their first priority. The letter from the Farmers and Merchants was signed by W.I. Wellman, president, and J.R. Boyd, cashier. Officers of the trust company were S.J. Mayhew, president; J.D. Hutton, vice president; Lawrence Cooper, vice president; J.R. Boyd, cashier; and A.E. Mastin, assistant cashier. The trust company's statement at the close of business, January 31, 1905, showed capital stock paid in $75,000, undivided profits $650.51, individual deposits of $215,206.48 and time certificates of deposit $17,168.95. Total resources were $308,125.94.

On February 26, 1930, two Huntsville banks became a single institution after the overnight purchase of the Huntsville Bank and Trust Co. by the Henderson National Bank. The Henderson National acquired the assets of the trust company approximating $750,000 and adding to its own made approximately $2,250,000 of assets. The transfer of the business of the Huntsville Bank & Trust Co. across the street to the Henderson National at the northeast corner of Court Square occurred with crowds watching the movement of money and accounts. The Huntsville Bank & Trust Co. began as the Huntsville Savings Bank and Trust Company in 1902 with S.J. Mayhew as its president. It bought the Farmers and Merchants National Bank and operated in the old Huntsville Hotel corner until it was burned out around 1908. It moved then to the location in the Herstein Building where it continued until the close of business yesterday. R. Holland Gilliam was the president at the time of its sale and Mr. Gilliam became a member of the official staff of the Henderson National.

Official Bank Title(s)

1: The Farmers and Merchants National Bank of Huntsville, AL

Bank Note Types Issued

A total of $95,600 in National Bank Notes was issued by this bank between 1892 and 1905. This consisted of a total of 7,648 notes (7,648 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
1882 Brown Back	3x10-20	1 - 1912

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1892 - 1905):

Presidents:

Willard Irvine Wellman, 1892-1905

Cashiers:

Other Bank Note Signers

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

Wiki Links

Sources

Huntsville, AL, 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
The Huntsville Hotel at Jefferson and Public Square, accessed July 15, 2023.
The Birmingham News, Birmingham, AL, Thu., Jan. 10, 1895.
The Birmingham News, Birmingham, AL, Wed., Jan. 12, 1898.
The Vernon Courier, Vernon, AL, Thu., Jan. 26, 1899.
The Birmingham News, Birmingham, AL, Thu., Jan. 14, 1904.
The Journal, Huntsville, AL, Thu., Jan. 19, 1905.
The Morning Mercury, Huntsville, AL, Wed., Feb. 1, 1905.
The Morning Mercury, Huntsville, AL, Sat., Feb. 4, 1905.
The Montgomery Advertiser, Montgomery, AL, Sun., May 30, 1909.
The Huntsville Times, Huntsville, AL, Wed., Feb. 26, 1930.