First National Bank, Haddon Heights, NJ (Charter 13530)
First National Bank, Haddon Heights, NJ (Chartered 1931 - Liquidated 1934)
Town History
Haddon Heights is a borough in Camden County, New Jersey. As of the 2020 United States census, the borough's population was 7,495. In 1930 the population was 5,394.
Haddon Heights was incorporated as a borough by an act of the New Jersey Legislature on March 2, 1904, from portions of the now-defunct Centre Township and parts of Haddon Township. The borough was named for Elizabeth Haddon, an early settler of the area.
In 1890, Benjamin A. Lippincott constructed a passenger station in the center of his land for the Atlantic City Railroad. Then Lippincott, with Charles Hillman, filed a grid street plan with Camden County to develop a community. They named it Haddon Heights because of its proximity to Haddonfield and its high elevation. Large houses were constructed that appealed to prosperous middle-class families moving from the cities. In 1904, Haddon Heights was incorporated as a borough and Lippincott was elected mayor. A small downtown grew near the railroad and the White Horse Pike and eight churches and a synagogue were built.
Haddon Heights had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized February 26, 1931
- Chartered February 27, 1931
- Liquidated Feb 14, 1934
- Absorbed by 1209 (First Camden National Bank and Trust Company, Camden, NJ)
- Circulation assumed by 1209 (First Camden National Bank and Trust Company, Camden, NJ)
In February 1931, F. Morse Archer offered to purchase the banking building property and equipment of the closed Haddon Heights Bank and Trust Company for $100,000. In a letter to the State Banking Commissioner, Frank H. Smith, Archer, representing a group of directors of the First Camden National Bank and Trust Company as well as a number of residents of Haddon Heights who were members of the Depositors' committee of the closed institution, laid out the plan to take over the property and obtain a national bank charter for the First National Bank of Haddon Heights. Banking authorities in Washington agreed to give the application of the Archer group favorable consideration. Liquidation of the assets of the Haddon Heights Bank and Trust Co. would remain in the hands of the state department, but the new bank agreed to take over the notes and securities which were considered "good" in a banking sense. Upon opening, depositors in the old bank would be able to borrow 50% of the amount of their deposit claims allowed by the state. The new bank would allow the State to use a portion of the banking building and vault during liquidation. The Haddon Heights Bank and Trust Company closed its doors the night of January 2d.
The Haddon Heights Bank and Trust Company opened its new building on December 13, 1924, at Station Avenue and the Reading Railway, Haddon Heights. The bank was organized on April 8, 1909, as a the Haddon Heights National Bank (Charter 9413) and it converted into a trust company at a re-organization on July 1, 1923.
On February 27, 1931, the Comptroller of the Currency announced a national bank charter had been granted to the First National Bank of Haddon Heights. The organization of the new bank followed confirmation of the sale of the closed Haddon Heights Bank and Trust Company, its building and equipment, to the newly formed institution. Opening of the First National Bank of Haddon Heights was announced for Monday, March 2, 1931. The officers were F. Morse Archer, president; Burleigh B. Draper, vice president; and Edward H. Effing, cashier. The directors were F. Morse Archer, David Baird, Jr., Wm. T. Boyle, Esq., Elias Davis, Burleigh B. draper, Frank C. Somers, George R. Pelouze, Nelson F. Long, Wm. G. Maguire. Frederick Fries, and Wm. D. Sherrerd.
On Thursday, January 18, 1934, Burleigh B. Draper, vice president of the First National Bank of Haddon Heights announced a plan to merge with the First Camden National Bank and Trust Company. The plan, subject to approval by stockholders, was to operate the Haddon Heights bank as a branch. When the First National Bank was organized early in 1931 by Haddon Heights residents together with a group of directors of the First Camden National, New Jersey law did not permit branch banking within a county. That statute changed so that both state and national banks could do county-wide branch banking. The officers of the First National were F. Morse Archer, president; Burleigh B. Draper, vice president; and E.H. Effing, cashier.
Official Bank Title(s)
1: The First National Bank of Haddon Heights, NJ
Bank Note Types Issued
A total of $301,760 in National Bank Notes was issued by this bank between 1931 and 1934. This consisted of a total of 60,352 notes (No large size and 60,352 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1929 Type 1 6x5 1 - 8232 1929 Type 2 5 1 - 10960
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1931 - 1934):
Presidents:
Cashiers:
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Haddon Heights, NJ, 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 Morning Post, Camden, NJ, Sat., Dec. 13, 1924.
- Courier-Post, Camden, NJ, Mon., Feb. 9, 1931.
- The Morning Post, Camden, NJ, Sat., Feb. 28, 1931.
- The Morning Post, Camden, NJ, Tue., Mar. 3, 1931.
- The Morning Post, Camden, NJ, Fri., Jan. 19, 1934.