Farmers and Merchants NB, Rockwood, PA (Charter 9769)

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The old Farmers and Merchants National Bank of Rockwood, Pennsylvania, ca2023.
The old Farmers and Merchants National Bank of Rockwood, Pennsylvania, ca2023. Courtesy of Google Maps

Farmers and Merchants NB, Rockwood, PA (Chartered 1910 - Receivership 1934)

Town History

Rockwood is a borough in Somerset County, Pennsylvania. It is part of the Johnstown, Pennsylvania, Metropolitan Statistical Area, and located due north of Pennsylvania's highest peak, Mount Davis, which significantly constricts land travel routing south of the municipality. The population was 850 at the 2020 census. In 1900 the population was 685 peaking in 1940 at 1,375.

Rockwood was initially known as Shaff's Bridge and then Mineral Point. Philip Wolfersberger built a house in what is now Rockwood in 1856, and he laid out the town in 1857 with Martin Meyers serving as the primary surveyor. John Poister built a hotel in 1860, 1868 saw the development of a post office, Henry Werner built a tannery in 1869, and a railroad depot was built in 1871. Philip Stauffer Wolfersberger, a son of the above Philip Wolfersberger, was a ticket agent of the Baltimore & Ohio Railroad (B&O) and was instrumental in getting the current name of Rockwood to take hold. It was because of the rocks and woods that surrounded the town that it was named Rockwood. The B&O Railroad passes through Rockwood as it bends northerly in a long bow about the roots of Mount Davis, and it is now owned and operated by CSX, with daily Amtrak express trains between Pittsburgh and Cumberland, MD passing through the town and the nearby Cumberland Narrows.

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

Bank History

On April 20, 1910, the Comptroller of the Currency approved the application of Charles J. Hemminger, Fred Groff, H. Snyder, P.A. Kreger, and J.R. Barron to organize the farmers and Merchants National Bank of Rockwood with $25,000 capital. Approval to commence business followed on June 4th with Charles J. Hemminger, president; James R. Barron, vice president and Ellis C. Boose, cashier.

In March 1912, D.F. Shultz began work on the three-story brick building which was being erected by the Farmers and Merchants National Bank as its new home, tearing down the old frame structure on the Weisel property the site of the fine new business block. A large force of carpenters and other mechanics were employed.

In June 1915, J.C. Enos, assistant cashier of the Farmers and Merchants resigned to engage in the mercantile business as a partner in the firm of Enos & Phillippi. The vacancy in the bank was filled by W.M.G. Day, then assistant postmaster.

On January 8, 1918, Edward E. Miller, the well-known merchant and coal dealer was chosen president at the annual meeting of the stockholders. Dr. C.J. Hemminger retired as active head. Mr. Miller came to Rockwood from Meyersdale about 12 years ago when he engaged in the restaurant business in a building on the site where the Miller Block then stood. In 1912 he erected the modern, three-story brick building where he conducted his grocery, hotel and restaurant enterprises. About 3 years ago, he with Irvin Wolf of Rockwood organized the Wolf & Miller Coal Co. which purchased a tract of land at Casselman. Development of the land was completed when the coal boom came and the promoters were able to dispose of their holdings with a handsome net profit. Mr. Miller made frequent trips to Meyersdale to visit his mother, Mrs. Tobias Miller, who lived there.

On Sunday, February 18, 1917, seven business houses of Rockwood, including the First National Bank, and the Farmers and Merchants National Bank, were visited overnight by robbers, entrance to the buildings in nearly every case being made through a rear window. The only loot they secured, so far as was known, was a one-dollar bill from the Ringler barber shop, a B&O mileage book from the Farmers and Merchants bank, and a revolver from the First National Bank. No attempt, apparently, had been made to open any safes, although the strong box in the office of the "Leader" had evidence of being tampered with. Small quantities of merchandise were taken from the stores. In addition to the banks, newspaper office and barber shop mentioned, the robbers visited Maisberry's jewelry store, Damico Fruit store, Enos Phillippi's general store and Holzhour’s meat market. The total amounts of plunder was equivalent to about $25. Sheriff Lester G. Wagner later said it was thought there were four burglars in the gang who commenced their depredations in Cumberland, next appeared in Meyersdale and resumed operations in Rockwood Sunday night.

In October 1922, W.M.G. Day was elected cashier to succeed J.R. Shank who resigned to engage in business in Pittsburgh. Mr. Day had been assistant cashier for a number of years. Mr. Shanks also resigned as a directors and was succeeded on the board by J.C. Liphart of Casselman. Mr. Guy Vough was named as successor to Mr. Day as assistant cashier.

In May 1925, while Guy O. Vough was at Somerset making a statement against a Rockwood citizen on a minor charge, he was served a warrant charging him with fraudulent conversion, embezzlement, the making of false entries and the appropriation to his own use of about $8,000. President E.E. Miller alleged that a shortage of $8,000 was discovered as a result of Vough's manipulation of accounts. He was committed to jail by Chas. J. Harrison, Justice of the Peace. In August 1926, for the case of the Commonwealth vs. Guy O. Vough of Rockwood on a charge of misappropriation of funds while an officer in one of the national banks of that city, the court refused to enter a nol pros presented by the District Attorney. It is unclear how the district attorney proceeded.

In January 1933, the stockholders elected the following directors: E.E. Miller, H.W. Musser, W.M.G. Day, J.C. Liphart, Levi Wold, J.C. Ream, R.R. Kregar, C.T. Saylor, and John Romesburg. The officers were E.E. Miller, president; H.W. Musser, vice president; W.M.G. Day, cashier; W.L. Mills, assistant cashier.

In March 1934, the Union National Bank of Rockwood, which was the reorganization of the First National Bank and Farmers and Merchants National Bank, planned to open in the building occupied by the First National. The directors of the new bank were B.F. Hanna, D.F. Shultz, H.W. Musser, A.C. Meyers, M.W. Romesburg, and Luther Leaphart. The officers were B.F. Hanna, president; D.F. Shultz, vice president; W.M.G. Day, cashier; and J.R. Shanks, assistant cashier.

In June 1935, Receiver P.M. Weimer announced a second dividend of 30% to be paid on June 20th. This dividend along with a prior dividend of 40% paid to depositors about a year ago made the recovery to date 70%. The dividend was paid out of collections and not from borrowed money meaning considerable savings to depositors and more economical administration of the trust.

Official Bank Title(s)

1: The Farmers and Merchants National Bank of Rockwood, PA

Bank Note Types Issued

1902 Plain Back $10 bank note with printed signatures of W.M.G. Day, Cashier and E.E. Miller, President
1902 Plain Back $10 bank note with printed signatures of W.M.G. Day, Cashier and E.E. Miller, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $20 bank note with printed signatures of W.M.G. Day, Cashier and E.E. Miller, President. The Government Printing Office (GPO) prepared the overprinting plate used to produce this note.
1929 Type 1 $20 bank note with printed signatures of W.M.G. Day, Cashier and E.E. Miller, President. The Government Printing Office (GPO) prepared the overprinting plate used to produce this note. Courtesy of Heritage Auctions, www.ha.com
1929 Type 2 $20 bank note with SN 1 and printed signatures of W.M.G. Day, Cashier and E.E. Miller, President. Barnhart Brothers & Spindler (BBS) prepared the overprinting plate used to produce this note.
1929 Type 2 $20 bank note with SN 1 and printed signatures of W.M.G. Day, Cashier and E.E. Miller, President. Barnhart Brothers & Spindler (BBS) prepared the overprinting plate used to produce this note. Courtesy of Heritage Auctions, www.ha.com

A total of $411,690 in National Bank Notes was issued by this bank between 1910 and 1934. This consisted of a total of 33,164 notes (27,240 large size and 5,924 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 3x10-20 1 - 2210
1902 Plain Back 3x10-20 2211 - 6810
1929 Type 1 6x10 1 - 744
1929 Type 1 6x20 1 - 184
1929 Type 2 10 1 - 265
1929 Type 2 20 1 - 91

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1910 - 1934):

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

  • Rockwood, 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
  • The Record-Argus, Greenville, PA, Wed., Apr. 20, 1910.
  • The Wall Street Journal, New York, NY, Mon., June 6, 1910.
  • The Republic, Meyersdale, PA, Thu., Mar. 28, 1912.
  • The Republic, Meyersdale, PA, Thu., June 24, 1915.
  • The Republic, Meyersdale, PA, Thu., Feb. 22, 1917.
  • The Republic, Meyersdale, PA, Thu., Jan. 24, 1918.
  • The Republic, Meyersdale, PA, Thu., Oct. 12, 1922.
  • The Republic, Meyersdale, PA, Thu., May 14, 1925.
  • The Republic, Meyersdale, PA, Thu., Aug. 26, 1926.
  • The Daily American, Somerset, PA, Wed., Jan. 11, 1933.
  • The Daily Courier, Connellsville, PA, Sat., Mar. 10, 1934.
  • The Republic, Meyersdale, PA, Thu., June 20, 1935.
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