First National Bank, Barnum, MN (Charter 11761)

ca. 1927 postcard of the First National Bank

First National Bank, Barnum, MN (Chartered 1920 - Liquidated 1940)

Town History

Recent photo of the old (remodeled) bank building. (The house to the left of the bank in the postcard above is still standing, behind the building and trees to the left in this photo).

Barnum is located in Carlton County in northeastern Minnesota, and was incorporated on February 5, 1889. It received its name in honor of George G. Barnum, a resident of Duluth, who was paymaster of the Lake Superior and Mississippi Railroad when it was being built.

During the National Bank Note Era (1863-1935), the population of Barnum was 391 in 1900, dropping to 271 in 1930. It's highest population was 613 in 2010, and the current population is estimated at 600 (2019).

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

Bank History

• Organized Jun 5, 1920
• Chartered Jun 18, 1920
• Conversion of The State Bank of Barnum
• Bank was Open past 1935
• Liquidated Aug 19, 1940
• Succeeded by State Bank of Barnum

Official Bank Title(s)

1: The First National Bank of Barnum, MN

Bank Note Types Issued

Series 1902 Plain Back $20 bank note with signatures of F.E. Bauer, Cashier and J.S. Cain, President.

Series 1929 Type 1 $20 bank note with printed signatures of Henry Johnson, Cashier and H.C. Hanson, President. Courtesy of Lyn Knight Currency Auctions, www.lynknight.com

A total of $73,840 in National Bank Notes was issued by this bank between 1920 and 1935. This consisted of a total of 6,039 notes (3,928 large size and 2,111 small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type	Sheet/Denoms	Serial#s
1902 Plain Back	3x10-20	1 - 982
1929 Type 1	6x10	1 - 130
1929 Type 1	6x10	315 - 440
1929 Type 1	6x20	1 - 13
1929 Type 1	6x20	107 - 140
1929 Type 2	10	1 - 212
1929 Type 2	20	1 - 81

Bank Presidents and Cashiers

First National Bank Presidents and Cashiers during the National Bank Note Era (1920 - 1936):

Presidents:

• Ray W. Barstow, 1920-1923
• John Stewart Cain, 1924-1925
• Emil Erickson, 1927-1929
• Hans Carl Hanson, 1930-1935

Cashiers:

• Frank E. Bauer, 1920-1929
• Henry C. Johnson, 1930-1935

Other Bank Note Signers

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

Wiki Links

• Minnesota Bank Note History
• General information on Barnum (Wikipedia)
• General information on Carlton County (Wikipedia)
• General information on Minnesota (Wikipedia)

Sources

• Barnum, MN, Wikipedia, https://en.wikipedia.org/wiki/Barnum,_Minnesota
• 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