Farmers and Traders National Bank, Clearfield, PA (Charter 8464)

This should be a contemporary postcard or photo of the bank.

Farmers and Traders NB, Clearfield, PA (Chartered 1906 - Liquidated 1912)

Town History

Postcard showing a bird's-eye view of Clearfield, Pennsylvania ca1920s. Courtesy of Adam Stroup

Incorporated in 1840, Clearfield is a borough in and the county seat of Clearfield County, Pennsylvania. As of the 2010 census the population was 6,215 people making it the second most populous community in Clearfield County behind DuBois.

There were many trade routes and paths for Native Americans living and passing through Clearfield County up to the 1600s. One major Indian path at the time was the Great Shamokin Path, which started near the Indian village of Shamokin (now Sunbury) on the Susquehanna River and continued west past Lock Haven, to Chinklacamoose, now the borough of Clearfield. Finally the path ended at the village of Kittanning on the Allegheny River, which is now the modern town of the same name.

William Bigler (January 1, 1814 – August 9, 1880), was born in Perry Co. and became an American politician, 12th Governor of Pennsylvania from 1852 to 1855, and later U.S. Senator for Pennsylvania from 1856 until 1861. He started a political newspaper, the Clearfield Democrat. After selling the paper he was Nicknamed "The Clearfield Raftsman" because he was the largest producer of lumber for building supplies on the West branch of the Susquehanna River. His older brother, John Bigler, was elected governor of California during the same period; this is possibly the only instance where two brothers governed two different states at the same time.

Clearfield had five National Banks chartered during the Bank Note Era, and all five of those banks issued National Bank Notes.

Bank History

Organized October 29, 1906
Chartered December 8, 1906
Opened for business December 13, 1906
Liquidated November 11, 1912
Absorbed by Clearfield Trust Company October 1912

On Tuesday, September 18, 1906, The Farmers and Traders National Bank of Clearfield was organized by W.F. Hill of Chambersburg, master of the State Grange. The capital stock was $100,000 and surplus was $10,000. This bank added another link in the chain of Grange banks that the State Grange assisted in organizing. Two hundred enthusiastic stockholders attended consisting of farmers and businessmen from all parts of the county. W.F. Hill presided and Squire C.A. Woods was secretary. Grange bank organizer Charles T. Belles was present to direct the proceedings. The following directors were elected: J.G. McHenry, Benton; G.B. Passmore, Du Bois; E.C. Davis, Ramsey; W.F. Hill, Chambersburg; D. Bailey, Clearfield; C.E. Hoyt, Sabula; Jesse Williams, Utahville; Isaac Straw, Westover; Richard Gilbert, Isaac Stage, and G.N. Ellenberger, Clearfield. Guy B. Rickenbaugh was elected cashier of the newly organized Granger bank in Clearfield. He was previously connected with the First National Bank of Tyrone as a teller. Isaac Stage was elected president. Clearfield at that time had two national banks and a trust company with banking resources of $5,000,000.

After the 1905 National Grange convention in Atlantic City, a plan was devised to create Grange National Banks in each county in Pennsylvania. In 1906, the Farmers and Traders National Bank was one of the banks organized at the initiative of the Pennsylvania Grange. While the State Grangers were greatly interested in it, the businessmen of Clearfield were invested in its success as the name of the bank implies.

In August 1907, The Diamond National Bank of Pittsburgh was approved as the reserve agent for the Farmers & Traders National Bank.

In October 1912, A merger was effected whereby two of Clearfield's banks consolidated, the Clearfield Trust Company taking over the business of the Farmers and Traders National Bank.

For more information on the Grange National Banks in Pennsylvania, this article provides a brief history of those twelve banks, why they were formed, and the men and women behind them.

A Brief History of the Grange National Banks in Pennsylvania

Official Bank Title(s)

1: The Farmers and Traders National Bank of Clearfield, PA

Bank Note Types Issued

1902 Red Seal $10 bank note with pen signatures of E.O. Hartshorne, Cashier and Isaac Stage, President. Courtesy of Heritage Auctions, www.ha.com

1902 Date Back $5 bank note with printed signatures of E.O. Hartshorne, Cashier and A.E. Woolridge, President. Courtesy of Heritage Auctions, www.ha.com

A total of $485,880 in National Bank Notes was issued by this bank between 1906 and 1912. This consisted of a total of 64,840 notes (64,840 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
1902 Red Seal	4x5	1 - 2980
1902 Red Seal	4x10	1 - 3010
1902 Date Back	4x5	1 - 5146
1902 Date Back	4x10	1 - 5074

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1906 - 1912):

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

Clearfield, PA, Wikipedia, https://en.wikipedia.org/wiki/Clearfield,_Pennsylvania
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://bbdata.banknotehistory.com
Public Opinion, Chambersburg, PA, Fri., Sep. 21, 1906.
The Danville Morning News, Danville, PA, Fri., Sep. 21, 1906.
Altoona Tribune, Altoona, PA, Mon., Nov. 12, 1906.
Tyrone Daily Herald, Tyrone, PA, Thu., Nov. 15, 1906.
Altoona Tribune, Altoona, PA, Wed., Dec. 12, 1906.
The Pittsburgh Press, Pittsburgh, PA, Sat., Aug. 31, 1907.
Wayne County Herald, Honesdale, PA, Tue., Oct. 15, 1912.