First National Bank, Canton, OH (Charter 76)
First National Bank, Canton, OH (Chartered 1863 - Closed (Merger) 1991)
Town History
Canton (/ˈkæntən/) is a city in and the county seat of Stark County, Ohio. It is located approximately 60 miles south of Cleveland and 20 miles south of Akron in Northeast Ohio. The city lies on the edge of Ohio's extensive Amish country, particularly in Holmes and Wayne counties to the city's west and southwest. Canton is the largest municipality in the Canton-Massillon, OH Metropolitan Statistical Area, which includes all of Stark and Carroll counties. As of the 2020 Census, the population was 70,872, making Canton eighth among Ohio cities in population.
Founded in 1805 alongside the Middle and West Branches of Nimishillen Creek, Canton became a heavy manufacturing center because of its numerous railroad lines. However, its status in that regard began to decline during the late 20th century, as shifts in the manufacturing industry led to the relocation or downsizing of many factories and workers. After this decline, the city's industry diversified into the service economy, including retailing, education, finance and healthcare.
Canton is chiefly notable for being the home of the Pro Football Hall of Fame and the birthplace of the National Football League. 25th U.S. President William McKinley conducted the famed front porch campaign, which won him the presidency of the United States in the 1896 election, from his home in Canton. The McKinley National Memorial and the William McKinley Presidential Library and Museum commemorate his life and presidency. Canton was also chosen as the site of the First Ladies National Historic Site largely in honor of his wife, Ida Saxton McKinley.
Canton was founded in 1805, incorporated as a village in 1822, and re-incorporated as a city in 1838.
The plat of Canton was recorded at New Lisbon, Ohio, on November 15, 1805, by Bezaleel Wells, a surveyor and devout Episcopalian from Maryland born January 28, 1763. Canton was likely named as a memorial to Captain John O'Donnell, an Irish merchant marine with the British East India Trading Company whom Wells admired. O'Donnell named his estate in Maryland after the Chinese city Canton (a traditional English name for Guangzhou) as he had been the first person to transport goods from there to Baltimore. Through Wells' efforts and promotion, Canton was designated the county seat of Stark County upon its division from Columbiana County on January 1, 1809.
Canton had three National Banks chartered during the Bank Note Era, and two of those banks, The First National Bank (Charter 76) and The City National Bank (Charter 2489), issued National Bank Notes.
Bank History
- Chartered September 5, 1863
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Merged into Bank One, Akron, NA in Akron, OH, September 13, 1991
On September 5, 1863, the First National Bank of Canton, Ohio, was authorized to begin business with capital of $100,000.
In July 1874, the directors were C. Aultman, Lewis Miller, John F. Raynolds, Geo. Cook, and Jacob Miller. Levi L. Miller was the cashier.
In January 1880, the directors were C. Aultman, Lewis Miller, George Cook, Levi L. Miller, and Jacob Miller. The bank was located at No. 1 Eagle Block with Levi L. Miller as cashier.
On January 13, 1897, the stockholders elected the following directors: Johnson Sherrick, Elizabeth A. Harter, R.S. Shields, Hiram Doll, Henry Mann, L.L. Miller, and H.W. Harter. The directors organized by electing the following officers: Johnson Sherrick, president; H.W. Harter, vice president; and L.L. Miller, cashier.
The name of Eagle Hotel and "Eagle Block" were familiar terms to Canton's citizens for fully the past eighty years. George Dewalt, who opened his hotel in the town when there were but few inhabitants, and built the three story brick house as shown, standing on the southwest corner of Market and Tuscarawas Streets, and called it the Eagle Hotel. The hotel retained that name through all the changes of proprietors. The Eagle Hotel in Canton was considered one of the finest houses in northern Ohio at that time. George Dewalt was a brother of Daniel Dewalt and was also the grandfather of Mrs. William McKinley. He kept the hotel referred to about 23 years, and then sold to Wm. Hawk, who came to Canton from Pennsylvania. He kept it until he died, and his sons Samuel, Reuben and William continued for some time after their father's death. After that George Raynold's, brother of the late John F. Raynolds, kept it for several years. After Mr. Raynolds went into the hotel business in Akron, the Eagle block passed into other hands and was converted into business rooms. Since the erection of a four-story brick building on Eagle Block, the First National bank had occupied the corner room. The rest of the building was for business purposes and offices. No hotel was ever kept in the new building, but the name of "Eagle Block" always clung to it. The Stark County Democrat, Canton, Ohio, Tue., Apr. 17, 1900.
In January 1900, The officers and directors were J.J. Sullivan, president, William H. Clark, vice president; Louis A. Loichot, cashier; F.E. Case, Austin Lynce, Johnson Sherrick, and Julius Dannemiller, directors. The bank had capital of $200,000.
In January 1903, L.A. Loichot was promoted from cashier to vice president. The officers were J.J. Sullivan of Cleveland, president; Louis A. Loichot, vice president; and W.G. Saxton, cashier. The directors were J.J. Sullivan, F.E. Case, Johnson Sherrick, A. Dannemiller, Austin Lynch, W.O. Saxton, and L.A. Loichot.
In August 1907, the officers were J.J. Sullivan, president; Louis A. Loichot, vice president; and W.G. Saxton, cashier. The directors were J.J. Sullivan, W.R. Timken, Johnson Sherrick, Wm. Rommel, Austin Lynch, F.E. Case, and L.A. Loichot.
Official Bank Title(s)
1: The First National Bank of Canton, OH
Bank Note Types Issued
A total of $8,720,220 in National Bank Notes was issued by this bank between 1863 and 1991. This consisted of a total of 715,804 notes (583,076 large size and 132,728 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 - 4600 Original Series 3x10-20 1 - 1860 Series 1875 4x5 1 - 1185 Series 1875 3x10-20 1 - 1562 1882 Brown Back 3x10-20 1 - 6917 1902 Red Seal 3x10-20 1 - 10500 1902 Date Back 3x10-20 1 - 36000 1902 Plain Back 3x10-20 36001 - 119145 1929 Type 1 6x10 1 - 14964 1929 Type 1 6x20 1 - 4054 1929 Type 2 10 1 - 15140 1929 Type 2 20 1 - 3480
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1863 - 1991):
Presidents:
- Cornelius Aultman, 1863-1884
- George Dewalt Harter, 1885-1890
- Johnson Sherrick, 1891-1897
- Jeremiah J. Sullivan, 1898-1910
- Louis Augustus Loichot, 1910-1910
- Jeremiah J. Sullivan, 1910-1910
- William R. Timken, 1911-1915
- Austin Lynch, 1916-1930
- William Goodman Saxton, 1931-1935
Cashiers:
- Thomas Rogers Tonner, 1863-1864
- Daniel Brisbane Whitacre, 1865-1865
- G. W. Williams, 1866-1870
- Henry Clay Fogle, 1871-1872
- Levi Lewis Miller, 1873-1897
- Louis Augustus Loichot, 1898-1902
- William Goodman Saxton, 1903-1930
- Herbert John McKee, 1931-1935
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Canton, OH, 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
- Cleveland Daily Leader, Cleveland, OH, Wed., Sep. 9, 1863.
- The Stark County Democrat, Canton, Ohio, Thu., July 30, 1874.
- The Stark County Democrat, Canton, Ohio, Thu., Jan. 8, 1880.
- The Stark County Democrat, Canton, Ohio, Thu., Jan. 14, 1897.
- The Stark County Democrat, Canton, Ohio, Fri., Jan. 5, 1900.
- The Stark County Democrat, Canton, Ohio, Tue., Apr. 17, 1900.
- The Stark County Democrat, Canton, Ohio, Tue., Jan. 20, 1903.
- The Stark County Democrat, Canton, Ohio, Tue., Sep. 3, 1907.