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First National Bank, Alexandria, LA (Charter 5021)

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1905 advertisement
A 1905 advertisement for the First National Bank of Alexandria, Louisiana.[1]

First National Bank, Alexandria, LA (Chartered 1895 - Liquidated 1921)

Town History

A 1911 advertisement for the First National Bank and the City Savings Bank
A 1911 advertisement for the First National Bank and the City Savings Bank of Alexandria, Louisiana.[2]

Alexandria is the ninth-largest city in the state of Louisiana and is the parish seat and largest city of Rapides Parish, Louisiana. It lies on the south bank of the Red River in almost the exact geographic center of the state. It is the principal city of the Alexandria metropolitan area (population 153,922) which encompasses all of Rapides and Grant parishes. Its neighboring city is Pineville. In 2010, the population was 47,723, an increase of 3 percent from the 2000 census. The population in 1890 was 2,861, growing to 17,510 by 1920.

Alexander Fulton, a businessman from Washington County, near Pittsburgh, Pennsylvania, received a land grant from Spain in 1762, and the first organized settlement was made at some point in the 1780s. In 1805, Fulton and business partner Thomas Harris Maddox laid out the town plan and named the town in Fulton's honor. In 1801, Fulton was appointed coroner in Rapides Parish by territorial Governor William C.C. Claiborne. Alexandria was incorporated as a town in 1818 and received a city charter in 1832.

Alexandria had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.

Bank History

A December 1940 photo of Second Street Alexandria
A December 1940 photo of B. Ginsberg men's wear, located at 1021 Second Street, opposite the old First National Bank. Courtesy of the Library of Congress
Guaranty Bank and Trust Company building
Postcard of the 10-story Guaranty Bank and Trust Company building located at 934 Third Street, Alexandria, Louisiana. Courtesy of Adam Stroup
  • Organized September 28, 1895
  • Chartered October 9, 1895
  • Liquidated March 1, 1921
  • Absorbed by City Savings Bank and Trust Company of Alexandria

On September 5, 1895, at a meeting of the stockholders of the First National Bank of Alexandria held at the court house, the following board of directors was elected: E.W. Barrett, Thos. Clements, A. Wettermark, Jr., H.S. Gossens, John A. Williams, L.J. Hakenyos, B. Turner, B. Ehrstein, and Gus Gehr.[3] The directors met in the afternoon and elected Thos Clements, president; B. Ernstein, vice president; A. Wettermark, Jr., cashier. The directors leased for period of five years the new building on Second Street then under construction by Mr. D. Kuhnagle.[4] On October 9, 1895, the comptroller of the currency issued a certificate authorizing the First National Bank of Alexandria to begin business. The capital stock was $50,000.[5] The new bank opened for business on Wednesday, October 16th.[6] 

The Town Talk paper cutter was used Monday morning, November 18th to cut apart the new $10 and $20 bills received by the First National Bank. "The bills are sent from the Government Printing Office in sheets, five [sic] bills to the sheet, and to save time and do the work better than could be done with scissors, the bills were cut at this office." The bank received over $11,000 of this new money. "From present prospects, the Town Talk office will never have within its walls at one time as much cash as it had Monday morning."[7]

At the close of business, December 31, 1895, the bank had total assets of $99,467.59 with capital stock paid in $37,450, circulation $11,250, and deposits $50,767.59.[8]

On Tuesday, January 14, 1896, the directors elected were B. Ehrstein, E.J. Barrett, Gus Gehr, H.S. Gossens, L.J. Hakenyos, Ben Turner, A. Albert, Thos. Clements, and A. Wettermark, Jr. The directors re-elected all officers with the addition of Chas. Owens, bookkeeper and L.J. Hakenyos, attorney and notary.[9]

In April 1901, the contract for erecting the building for the First National Bank of Alexandria was let to Mr. C.J. Brinell of Springfield, Missouri. The contract price was $12,000 which did not include the fixtures. The building would be a handsome, two-story stone front, the first stone front edifice ever erected in Alexandria. The plans were drawn by the J. Riley Gordon Company, architects of Dallas, Texas, of which Mr. A.J. Armstrong of Shreveport was associated. The contractor, Mr. Brlnell, expected to start work as soon as he could get material on the ground. The old frame store building on the lot on Second Street where the new bank building was going was for many years occupied by Mr. John J. Ferguson, the jeweler. This building would be torn down and the lot cleared as soon as the contractor arrived. The second story of the bank building would be fitted for modern offices for rent. One of the features of the new building was a safe deposit vault where citizens could rent their own boxes and carry their own keys and get to them at any time during banking hours. The bank's vault would be made strictly burglar- as well as fire-proof.[10] 

On May 14, 1901, a charter was issued for the City Savings Bank of Alexandria, Louisiana. The authorized capital stock was $50,000 divided into 500 shares of $100 each. When $10,000 was paid in, the bank was authorized to commence business. The board of directors consisted of Paul Lisso, Louis J. Hakenyos, Gus Gehr, Alfred Wettermark, Jr., Ledoux E. Smith, E.J. Barrett, Ben Turner, Sam Washauer, and R.W. Bringhurst.[11] The necessary stationery for the City Savings Bank arrived and the bank opened for business on August 1st in the First National Bank Building. The same directors and officers of the First National would direct the affairs of the City Savings Bank.[12]

On Tuesday morning, February 4, 1902, the First National Bank opened for business in their handsome new building on Second Street in one of the most modern and up-to-date banking houses in the State of Louisiana. The street number, "1018," and the room directory on the First National Bank building were beautiful pieces of gold sign work painted by artist Mr. J.C. Golden.[13] E. Lapelley had the honor of cashing the first check in the new building. Mr. J.F. Hayden of the Cudahy Packing Co. made the first check deposit, and Mr. D.J. O'Shee made the first currency deposit in the new home of the bank. The friends and patrons were singing the praises of the prettiness and convenience of the new building and President Paul Lisso and Cashier A. Wettermark, Jr., were all smiles.[14] The firm of Diboll & Owen, architects of New Orleans had drawn the plans for the new building.[15] On Friday, August 15, 1902, Bernhard Ehrstein, aged 75 years, died at his home on Second Street, Alexandria. The deceased was born in Alsace, Germany and first came to Alexandria in 1853. After the Civil War, Mr. Ehrstein returned to Alexandria from Mexico where he had gone during the war. He opened up a general merchandise business on Third Street on the square above the Stonewall Hotel. He was a large loaner of money at interest and before Alexandria had banks, Mr. Ehrstein was nearly always sought out by those who wished to borrow. In 1871 or 72, he went to Strasburg, Germany and resided there two years. The funeral services were conducted by Oliver Lodge No. 84, F.A. & M. of which he was a member and by Dr. Emile Ellinger, the local Rabbi.[16]

In January 1903, the officers were Paul Lisso, president; L.J. Hakenyos, vice president; A. Wettermark, Jr., cashier. The bank had capital of $50,000.[17]

In 1905, the officers were Paul Lisso, president; L.J. Hakenyos, vice president; W.D. Hill, cashier; and R.M. Lisso, assistant cashier. The bank had capital of $100,000, surplus and profits $131,000.[18]

In January 1916, J.W. Alexander was a newly elected director of the First National Bank and the City Savings Bank and Trust Co. The other directors elected were J.A. Bentley, L.J. Hakenyos, Gus Gehr, A. Wettermark, E.W. Zimmerman, S. Barrett, E.J. Barrett, E.J. Hardtner, Sam Warshauer, W.W. Whittington, and J.W. Alexander. The following officers were elected for both banks: J.A. Bentley, president; L.J. Hakenyos, first vice president; Gus Gehr, second vice president; W.D. Hill, cashier; T.P. Wheadon, assistant cashier; M.R. Kramer, teller; Joe Well, general Bookkeeper; J.S. Wheadon, R. Hymes, H.R. Moore, individual bookkeepers; Edward Brenner, collector; and Miss Mary Ringgold, stenographer.[19]

In December 1916, the officers of the First National Bank and the City Savings Bank were J.A. Bentley, president; L.J. Hakenyos, first vice president; Gus Gehr, second vice president; W.D. Hill, cashier; and T.P. Wheadon, assistant cashier. The First National had capital $100,000, surplus and profits $245,000. The City Savings Bank had capital $30,000, surplus and profits $40,000.[20]

In October 1920, at a meeting of the Board of Directors of the First National Bank and the City Savings Bank and Trust Company of Alexandria, it was unanimously decided to consolidate the two institutions, under the name of the Guaranty Bank and Trust Company, the capital stock of which would be $650,000. This action of the Boards of Directors would be submitted to the stockholders of the two big Institutions for their approval at a joint meeting to be held in the old First National Bank building on Wednesday, November 24th, 1920. The consolidation of the two banks had been very carefully considered by the directors for some time, as they realized the many advantages that were to be gained by forming one large institution, instead of operating two smaller ones. The plan outlined by the committee representing the two banks, and accepted by the directors, was in substance as follows: amend the charter of the City Savings Bank and Trust Company so that the capital could be increased to $650,00, which would then enable them to consolidate with the First National Bank. It was also decided to further amend the charter, changing the name of the City Savings Bank and Trust Company to the "Guaranty Bank and Trust Company," and converting the institution from a national to a state bank. In increasing the capital stock to $650,000, there would be new stock for sale to the public which would increase the surplus to approximately $650,000, or capital and surplus of over $1,250,000. The stockholders' meeting would be held in the office of the First National Bank on Wednesday, November 24th, 1920, from 10 a.m. to 3 p.m., and it was the desire to have every stockholder represented at the meeting. The handsome ten-story building under construction at the corner of Third and Murray streets would in future be known as the "Guaranty Bank and Trust Company" building.

The Guaranty Bank and Trust Company would be one of the strongest banking institutions in the State of Louisiana, having among its directors and stockholders many of the most prominent business and professional men in the country. The officers were J.A. Bentley, president; W.D. Hill, vice-president; L.J. Hakenyos, vice president; Gus Gehr, vice-president; T.P. Wheadon, cashier; J.T. Powers and C.W. Crockett, assistant cashiers.[21]

On January 1, 1987, Guaranty Bank & Trust Co. merged and became part of Hibernia National Bank (FDIC #4297) in New Orleans, Louisiana.

Official Bank Title

1: The First National Bank of Alexandria, LA

Bank Note Types Issued

1882 Brown Back $20 bank note
1882 Brown Back $20 bank note with pen signatures of A. Wettermark, Jr., Cashier and Paul Lisso, President. Courtesy of Heritage Auctions, www.ha.com
1882 Date Back $10 bank note
1882 Date Back $10 bank note with stamped signatures of W.D. Hill, Cashier and J.A. Bentley, President. Courtesy of Heritage Auctions, www.ha.com
1902 Plain Back $10 bank note
1902 Plain Back $10 bank note with pen signature of M.R. Kramer, Assistant Cashier and stamped signature of Joseph Bentley, President. Courtesy of Heritage Auctions, www.ha.com

A total of $868,750 in National Bank Notes was issued by this bank between 1895 and 1921. This consisted of a total of 69,500 notes (69,500 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 - 6250
1882 Date Back 3x10-20 1 - 6907
1902 Plain Back 3x10-20 1 - 4218

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1895 - 1921):

Presidents:

Cashiers:

Other Known Bank Note Signers

Bank Note History Links

Sources

  • Alexandria, LA, 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
  • Wolcott, M.P., photographer. (1940) Corner building in center of Alexandria showing signs and advertising Army and military wearing apparel and goods. Alexandria, Rapides Parish, Louisiana, Dec. 1940. Photograph Retrieved from the Library of Congress.
  1. ↑ The Town Talk, Alexandria, LA, Thu., Dec. 28, 1905.
  2. ↑ The Town Talk, Alexandria, LA, Sat., Dec. 16, 1911.
  3. ↑ The Town Talk, Alexandria, LA, Thu., Sep. 5, 1895.
  4. ↑ The Town Talk, Alexandria, LA, Fri., Sep. 6, 1895.
  5. ↑ The Times-Democrat, New Orleans, LA, Thu., Oct. 10, 1895.
  6. ↑ The Louisiana Democrat, Alexandria, LA, Wed., Oct. 16, 1895.
  7. ↑ Weekly Town Talk, Alexandria, LA, Sat., Nov. 23, 1895.
  8. ↑ The Town Talk, Alexandria, LA, Fri., Jan. 3, 1896.
  9. ↑ The Town Talk, Alexandria, LA, Wed., Jan. 15, 1896.
  10. ↑ Weekly Town Talk, Alexandria, LA, Sat., Apr. 6, 1901.
  11. ↑ Weekly Town Talk, Alexandria, LA, Sat. May 18, 1901.
  12. ↑ Weekly Town Talk, Alexandria, LA, Sat., Aug. 3, 1901.
  13. ↑ The Town Talk, Alexandria, LA, Mon., Feb. 17, 1902.
  14. ↑ Weekly Town Talk, Alexandria, LA, Sat., Feb. 8, 1902.
  15. ↑ The Town Talk, Alexandria, LA, Thu., Nov. 8, 1900.
  16. ↑ The Town Talk, Alexandria, LA, Fri., Aug. 15, 1902.
  17. ↑ The Town Talk, Alexandria, LA, Thu., Jan. 29, 1903.
  18. ↑ The Town Talk, Alexandria, LA, Thu., Dec. 28, 1905.
  19. ↑ The Town Talk, Alexandria, LA, Wed., Jan. 12, 1916.
  20. ↑ The Town Talk, Alexandria, LA, Sat., Dec. 16, 1911.
  21. ↑ Weekly Town Talk, Alexandria, LA, Sat., Oct. 16, 1920.
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