First National Bank, Blairsville, PA (Charter 867)
First National Bank, Blairsville, PA (Chartered 1865 - Liquidated 1928)
Town History
Blairsville is a borough in Indiana County, Pennsylvania, located 42 miles east of Pittsburgh, and on the Conemaugh River. As of the 2020 census it had a population of 3,252. In 1870, the population was 1,162, peaking in 1930 at 5,296.
Blairsville was settled in 1818 and incorporated in 1825. In the past, railway shops, foundries, machine shops, enameling plants, and manufactories of plate glass and lumber employed the residents. It was the seat of Blairsville College, a Presbyterian institution opened in 1851. In 1858 the area became heavily involved in the Underground Railroad with local families. Some of these families were the Mitchells and Van Leer Family. In a letter to Theodore Parker, a local geologist Peter Lesley stated there we over 3000 men helping the railroad in the area.
The Blairsville Armory and St. Peter's Episcopal Church and Rectory are listed on the National Register of Historic Places.
In 1902, the countryside around Blairsville became one of the first in Pennsylvania to have a woman, Anna J. Devers, appointed as a Rural Free Delivery carrier, delivering mail from the Blairsville Post Office.
Blairsville had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes.
Bank History
- Organized January 25, 1865
- Chartered March 7, 1865
- Liquidated June 30, 1928
- Absorbed by Blairsville Savings and Trust Co., Blairsville, Pennsylvania
On Monday, March 7, 1865, the First National Bank of Blairsville was opened for the transaction of business. Capital stock was $80,000 with priviledge to increase to $100,000.[1] William Maher was president; Samuel Ray, cashier; Archibald Davis, Robert Johnston, Paul Graff, Samuel Dixon, Columbus Bell, Samuel Barr, and Thomas G. Stewart, directors.[2] Mr. Maher was president of the Western Railroad Company (the old North Western Railroad).[3]
In September 1874, Paul Graff, Esq., was elected president in place of C. Bell, deceased. Mr. Graff, although one of the youngest bank presidents in the state, was none the less one of the most capable. Mr. Graff joined T.D. Cunningham, long-serving cashier, in the management of the bank.[4]
In October 1896, the directors were Paul Graff, L.S. Clagett, J.M. Turner, A.P. Kirtland, and Robert Smith. The officers were Paul Graff, president; J.M. Turner, vice president; and T.D. Cunningham, cashier. The capital was $80,000 and surplus $50,000.[5]
In July 1906, the bank had capital stock of $80,000, surplus and undivided profits of $85,000, over $600,000 in deposits and total assets of nearly $900,000. Its home was in a handsome, new brownstone structure at the corner of Market and Stewart Streets, fitted up with modern facilities, vaults, including safe deposit boxes. The bank safely passed through two financial panics and never failed to declare semi-annual dividends to its stockholders. The officers and directors were T.D. Cunningham, president; J.M. Turner, vice president; Wilbur P. Graff, cashier; Thomas Maher, Cyrus Stouffer, Dr. L.S. Clagett, F.M. Graff, R.B. Smith and Harry McCreery.[6]
On October 9, 1913, Major Thomas Davis Cunningham, aged 72, president of the First National Bank of Blairsville, died at 8:30 o'clock in the morning at his home in Blairsville. Maj. Cunningham was born in Blairsville, a member of one of the oldest families in the area. He enlisted in Company B, 56th Pennsylvania Volunteer Infantry, and was wounded in battle at Gettysburg. After he returned to Blairsville, he engaged in the mercantile business with his brothers for a few years and then entered the First National Bank. He took a deep interest in Blairsville College, his wife, Helen Shepley, was a daughter of the founder of the institution, Rev. Samuel H. Shepley.[7]
On May 8, 1928, stockholders passed on the merger of the Blairsville First National Bank and the Blairsville Savings and Trust Company.[8] On Tuesday, May 22, the stockholders approved the merger with no dissenting votes and almost all shares represented. The business would continue under the name of the trust company and the First National would undergo voluntary liquidation, effective the close of business on June 30th.[9] In October 1928, the Blairsville Savings and Trust Co. had $200,000 capital, $260,000 surplus and profits, and total resources of over $3,500,000.[10]
On April 17, 1940, the Federal Deposit Insurance Corporation began paying depositors of the closed Blairsville Savings and Trust Co. to the extent of $1,389,851. The bank announced April 15th that it would liquidate. About one fifth of the depositors showed up and many walked a few steps to the Peoples Bank of Blairsville which also just opened in the trust company building and deposited their FDIC checks. The new bank was formed with 130 stockholders or depositors in the closed bank putting up $150,000 with William H. Sweet, the former president, becoming the new president of the Peoples Bank.[11]
Official Bank Title(s)
1: The First National Bank of Blairsville, PA
Bank Note Types Issued
A total of $2,681,300 in National Bank Notes was issued by this bank between 1865 and 1928. This consisted of a total of 250,492 notes (250,492 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 Original Series 4x5 1 - 7795 Series 1875 4x5 1 - 7200 1882 Brown Back 3x10-20 1 - 7691 1902 Red Seal 3x10-20 1 - 3200 1902 Date Back 3x10-20 1 - 11400 1902 Plain Back 3x10-20 11401 - 36737
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1928):
Presidents:
- William Maher, 1865-1869
- Samuel Ray, 1870-1870
- Columbus Bell, 1871-1873
- Paul Graff, 1874-1902
- Thomas Davis Cunningham Sr., 1903-1913
- James McKinnie Turner, 1915-1915
- Lyman S. W. Ray, 1916-1919
- Wilbur Paul Graff, 1920-1920
- Lyman S. W. Ray, 1921-1921
- Frank Mowry Graff, 1922-1927
Cashiers:
- Samuel Ray, 1865-1866
- Thomas Davis Cunningham Sr., 1867-1902
- Wilbur Paul Graff, 1903-1919
- Dorsey Weston Yealy, 1920-1927
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Blairsville, 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 Indiana Progress, Indiana, PA, Wed., Mar. 15, 1865.
- ↑ The Blairsville Courier, Blairsville, PA, Fri., July 27, 1906.
- ↑ Pittsburgh Post-Gazette, Pittsburgh, PA, Thu., Jan. 24, 1861.
- ↑ The Indiana Progress, Indiana, PA, Thu., Sep. 17, 1874.
- ↑ Blairsville Daily Courier, Blairsville, PA, Thu., Oct. 22, 1896.
- ↑ The Blairsville Courier, Blairsville, PA, Fri., July 27, 1906.
- ↑ Pittsburgh Post-Gazette, Pittsburgh, PA, Fri., Oct. 10, 1913.
- ↑ The Saltsburg Press, Saltsburg, PA, Thu., May 10, 1928.
- ↑ The Indiana Democrat, Indiana, PA, Wed., May 23, 1928.
- ↑ Blairsville Dispatch, Blairsville, PA, Tue., Oct. 23, 1928. Tuesday, October 23, 1928.
- ↑ York Daily record, York, PA, Thu., Apr. 18, 1940.