First National Bank, Kingston, PA (Charter 12921)
First National Bank, Kingston, PA (Chartered 1926 - Open past 1935)
Town History
Kingston is a borough in Luzerne County, Pennsylvania. It is located on the western bank of the Susquehanna River opposite Wilkes-Barre City. Kingston was first settled in the early 1770s; it was later incorporated as a borough on November 23, 1857. As of the 2010 census, the population was 13,182, making it the most populous borough in the county.
The community has a rich history in American education. It is said that the first public school in Pennsylvania was erected in Kingston (in the 1770s). The borough is also home to the Upper School of Wyoming Seminary, a prestigious college preparatory school founded in 1844. During the first year, it enrolled 31 students (17 boys and 14 girls). Today, Wyoming Seminary's historic campus hosts roughly 450 students.
Kingston witnessed a population boom after the construction and operation of the Lackawanna and Bloomsburg Railroad. The borough is named after Kingston, Rhode Island. The first election for the community was held on December 15, 1857. Ruben Jones was elected burgess and justice of the peace. Some of the first council members elected included Bestor Payne, Marshall G. Whitney, Reuben Marcy, Thomas Pringle, and Richard Hutching.
Coal mining was a chief industry in and around Kingston prior to the Knox Mine Disaster. The 1959 tragedy essentially shut down the mining industry in and around the borough. In June 1972, Kingston was devastated by the flooding of Hurricane Agnes. The hurricane wreaked havoc on Kingston and neighboring Wilkes-Barre, causing a state of emergency. The natural disaster earned national attention and a visit from President Richard Nixon, who recruited Wyoming Seminary graduate Frank Carlucci (Nixon's head of the Department of Health, Education, and Welfare) as a point man to oversee flood recovery efforts.
Kingston had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized April 19, 1926
- Chartered April 24, 1926
- Bank was Open past 1935
- Acquired by The Second National Bank of Wilkes-Barre (Charter 104) on March 31, 1951
In February 1926, Kingston's First National Bank began excavations for a foundation on a vacant plot of land adjointing Huey's store in the heart of Dorranceton, the business section of town. Wyoming Avenue and Union Street was the center of one of the most rapidly growing sections of the Wyoming Valley. The charter was approved with capital at $100,000 and surplus of $25,000 and a special reserve fund of $5,000. Incorporators were George M. Huey, O.R. Mullison, Jonathan R. Davis, R.H. Scureman, and Chester A. Ide. Practically all of the bank's stock had been taken at $130/share of which $100 was for capitalization, $25 for the surplus and $5 for the special reserve fund. Kingston had a population of 20,000 and assessed valuations exceeded $19 million with two state banks. The temporary location of the new bank was in the Piccone building at 693 Wyoming Ave. Mr. Piccone occupied one side of the building with his haberdashery and tailor shop while the other side was large enough for the bank.
In April 1926, officers were O.R. Mullison, president; Edward G. Chapin, first vice president; R.H. Scureman, second vice president; Harry R. Hay, cashier; and George M. Huey, secretary. In addition to the officers with the exception of the cashier, the directors were Dr. W.F. Davison, Jonathan R. Davis, and Chester A. Ide. Plans were adopted and a contract was about to be let for construction of a modern bank building. The bank opened for business on May 1, 1926. Patrons came from not only all parts of Kinston, but from Luzerne, Swoyerville, and Forty Fort as well. Floral pieces from banking houses in New York and Philadelphia decorated the foyer. Every person visiting received a memorandum book with the First National seal and in addition the women received a rose. Harry R. Hay, a graduate of Amherst College in 1907 was the cashier. He was with the Hartford-Aetna National Bank, Hartford, Connecticut and was the treasurer of the Simsbury Bank & Trust Company, Simsbury, Connecticut. He was also new business representative with the National City Bank of New York City for five years and for two years he held a similar position with the First National Bank of Boston.
The bank occupied its new building on Saturday, February 5, 1927. Andrew J. Sordoni was the contractor. The front of the building was an example of imposing simplicity and the interior was spacious and airy. At the left of the main floor vestibule was a private office and on the right was the women's room. A massive vault and safe deposit box room was located at the rear and over the vault was a special constructed section for directors' meetings.
On January 11, 1928, Robert E. Jones, formerly associated with the South Side Bank Trust Co., was elected cashier to succeed Harry R. Hay who resigned to accept a position in New York City. Officers elected were O.R. Mullison, president; E.G. Chapin, first vice president; R.H. Scureman, second vice president; George H. Huey, secretary. The directors were re-elected and the same as the original directors. On August 7, 1928, John M. Miles of Kinston was elected a director to fill the vacancy on the board created by the death of R.H. Scureman, and Dr. W.S. Davison was elected vice president, an office held by the late Mr. Scureman.
The Second National Bank of Wilkes-Barre (Charter 104) acquired the assets of the First National Bank of Kingston and planned to operate the West Side institution as a branch bank. The acquisition became effective on March 31, 1951 after approvals by stockholders and the comptroller of the currency. Robert E. Jones, executive vice president and cashier of the First National became a vice president of The Second National in charge of the Kingston Branch. Assets of the Kingston bank totaled more than $4 million and after consolidation the Second National's total resources were in excess of $33 million. Officers of the Second National Bank were Wallace M. Wakefield, president; James Mulligan, executive vice president and trust officer; Sheldon Evans, vice president, cashier and secretary; George A Blewitt, R. Stewart Ferguson, Newell Rossman, assistant cashiers; W.L. Goeckel, and E.W. Mulligan, assistant trust officers; and E.H. Kent, vice president.
Official Bank Title(s)
1: The First National Bank of Kingston, PA
Bank Note Types Issued
A total of $147,450 in National Bank Notes was issued by this bank between 1926 and 1935. This consisted of a total of 19,787 notes (No large size and 19,787 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 - 2060 1929 Type 1 6x10 1 - 624 1929 Type 1 6x20 1 - 210 1929 Type 2 5 1 - 892 1929 Type 2 10 1 - 1207 1929 Type 2 20 1 - 324
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1926 - 1936):
Presidents:
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Pennsylvania Bank Note History
- General information on Kingston (Wikipedia)
- General information on Luzerne County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Kingston, PA, Wikipedia, https://en.wikipedia.org/wiki/Kingston,_Pennsylvania
- 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 Wilkes-Barre Record, Wilkes-Barre, PA, Tue., Feb. 16, 1926.
- The Wilkes-Barre Record, Wilkes-Barre, PA, Mon. Feb. 22, 1926.
- The Evening News, Wilkes-Barre, PA, Fri., Apr. 9, 1926.
- The Wilkes-Barre Record, Wilkes-Barre, PA, Fri., Apr. 9, 1926.
- Wilkes-Barre Times Leader, The Evening News, Wilkes-Barre, PA, Sat., May 1, 1926.
- The Wilkes Barre Record, Wilkes-Barre, PA, Tue., Feb. 1, 1927.
- Wilkes-Barre Times Leader, The Evening News, Wilkes-Barre, PA, Wed., Jan. 11, 1928.
- The Wilkes Barre Record, Wilkes-Barre, PA, Wed., Aug. 8, 1928.
- Wilkes-Barre Times Leader, The Evening News, Wilkes-Barre, PA, Wed., Jan. 31, 1951.