First National Bank, Long Beach, CA (Charter 5456)

From Bank Note History
Jump to navigation Jump to search
NEEDED: a contemporary postcard or photo of the bank.

First National Bank, Long Beach, CA (Chartered 1900 - Liquidated 1929)

Town History

Long Beach is a city in Los Angeles County, California. It is the 43rd-most populous city in the United States, with a population of 466,742 as of 2020. A charter city, Long Beach is the seventh-most populous city in California, the second most populous city in Los Angeles County, and the largest city in California that is not a county seat city.

Incorporated in 1897, Long Beach lies in Southern California, in the southern part of Los Angeles County. Long Beach is approximately 20 miles south of downtown Los Angeles, and is part of the Gateway Cities region. The Port of Long Beach is the second busiest container port in the United States and is among the world's largest shipping ports. The city is over an oilfield with minor wells both directly beneath the city as well as offshore.

The city is known for its waterfront attractions, including the permanently docked RMS Queen Mary and the Aquarium of the Pacific. The town grew as a seaside resort with light agricultural uses. The Pike was the most famous beachside amusement zone on the West Coast from 1902 until 1969; it offered bathers food, games and rides, such at the Sky Wheel dual Ferris wheel and Cyclone Racer roller coaster. Gradually the oil industry, Navy shipyard and facilities and port became the mainstays of the city. In the 1950s it was referred to as "Iowa by the sea", due to a large influx of people from that and other Midwestern states.

Long Beach had seven National Banks chartered during the Bank Note Era, and all seven of those banks issued National Bank Notes.

Bank History

  • Organized May 22, 1900
  • Chartered June 26, 1900
  • Liquidated March 1, 1929
  • Absorbed by Bank of America of California, San Francisco
On December 14, 1898, Miss LaVerne E. Lowe and Charles L. Heartwell, both of Long Beach, were married at the residence of the bride's parents, Mr. and Mrs. W.W. Lowe on Pine Avenue. Mr. Harwell was city treasurer of Long Beach.[1] Miss Lowe's parents, Belle and William W. Lowe were married in Nebraska in 1867. After moving to California in 1883, they settled in what was then known as Willmore City. Mrs. Lowe started the city's first school in 1884 the same year she named the town Long Beach.

In May 1900, the comptroller of the currency approved the application of the following persons to organize the First National Bank of Long Beach, capital $25,000: James Heartwell, High Grove; A.G. Kendall, H.H. Ham, A.K. Johnson, and W.W. Wilcox.[2] A charter was issued on June 26th and J.M. Elliott was president and C.L. Heartwell, cashier.[3]

In April 1901, the officers and directors were J.M. Elliott, president; J.B. Heartwell, vice president; C.L. Heartwell, cashier; W.P.O. Stafford, attorney; W.W. Lowe, C.J. Walker, and W.L. Campbell, directors. The bank was located on the corner of First and Pine.[4]

In January 1906, the officers of the bank were J.B. Heartwell, president; John Carroll, S. Townsend, vice presidents; C.L. Heartwell, cashier; W.A. Kennedy, assistant cashier; W.P.L. Stafford and J.E. Daly, attorneys. The directors were W.L. Campbell, W.W. Lowe, F.A. Parker, S. Heller, II, M.E. Schroeter, C.J. Walker, D.M. Cate, J.E. Daly, C.D. Paine, W.L. Porterfield, J.B. Heartwell, John Carroll, C.L. Heartwell, S. Townsend, and W.P.L. Stafford. The officers of the Citizens Savings Bank of Long Beach with its banking office on the corner of First Street and Pine Avenue with the First National Bank had the following officers: Thomas Lovell, president; W.L. Campbell and C.L. Heartwell, vice presidents; J.B. Heartwell, cashier; and C.E. Huntington, assistant cashier.[5]

In January 1907, the directors were W.L. Campbell, W.W. Lowe, F.A. Parker, W.A. Kennedy, C.E. Huntington, C.J. Walker, D.M. Cate, J.E. Daly, C.D. Paine, W.L. Porterfield, J.B. Heartwell, John Carrell, C.L. Heartwell, S. Townsend, and W.P.L. Stafford. The officers were J.B. Heartwell, president; C.L. Heartwell, John Carroll, and S. Townsend, vice presidents; W.A. Kennedy, cashier; A.R. Collins and C.F. Armstrong, assistant cashiers; J.E. Daly and W.P.L. Stafford, attorneys.[6]

In January 1908, A.R. Collins was elected cashier, succeeding W.A. Kennedy who would be in charge of the outside business and also of the bank block rentals. Mr. Collins came to Long Beach from Franklin, Indiana and had been with the bank four years.[7] H.S. McKee was president and Chas. G. Greene, vice president. The bank was on the northwest corner of First Street and Pine Avenue.[8]

In July 1920, the officers were H.S. McKee, president; R.D. Judkins, vice president and cashier; N.C. Burson, J.R. Rutherford, J.W. Pettijohn, and W.P. Nestle, assistant cashiers. The bank was on the northwest corner of First and pine.[9]

On February 24, 1922, the directors elected the following officers for the year: R.D. Judkins, president; H.S. McKee, and James H. Daly, vice presidents; W.P. Nestle, cashier; J.W. Pettijohn, N.C. Burson, J.R. Rutherford, and L.D.C. Sample, assistant cashiers. In January, the stockholders elected James H. Daly a director to succeed his father, the late Judge John E. Daly.[10]

In July 1926, the officers were R.D. Judkins, president; H.S. McKee, vice president; W.P. Nestle, vice president and cashier; J.W. Pettijohn, N.C. Burson, L.D.C. Sample, W.W. garner, E.E. Edwards, assistant cashiers; N.M. Todd, trust officer and V.E. Maynard, auditor.[11]

On Tuesday, January 11, 1927, the election of Newton M. Todd to the directors proved the only change in the board of the First National Bank. The other directors re-elected were R.D. Judkins, Henry S. McKee, R.S. Oakford, J.E. Fishburn, and W.P. Nestle. Mr. Todd was past Exalted Ruler of the Long Beach Lodge of Elks and was president of the Long Beach Country Club. The officers elected were H.S. McKee, chairman of the board; R.D. Judkins, president; W.P. Nestle, vice president and cashier; J.W. Pettijohn, N.C. Burson, L.D.C. Sample, W.W. Garner, E.E. Edwards, assistant cashiers; Newton M. Todd, trust officer; and V.E. Maynard, auditor.[12]

On March 14, 1928, E.J. Nolan, president of the Merchants National Trust and Savings Bank, announced his bank's acquisition of a controlling interest in the first National Bank of Long Beach. The purchasing bank had always been the correspondent for the First National and some of its officers were directors of the Long Beach bank. Henry S. McKee, former vice president of the Merchants National and J.E. Fishburn, chairman of the board of directors, were directors of the First National since 1909. The First National Bank of Long Beach was issued a Federal charter in 1900 and was capitalized at $200,000. At the end of 1927, it had total assets of $6,854,000 including loans and discounts of $4,019,800, and deposits $6,283,900. The bank would continue to operate under its original charter with Robert D. Judkins as president. E.J. Nolan, president; C.R. Bell, vice president and R.M. Philleo, vice president and cashier of the Merchants National would be added to the board of directors of the First National Bank. Officers and directors of the First National Bank included Henry S. McKee, chairman of the board; Robert D. Junkins, president; W.P. Nestle, vice president and cashier; Thomas M. Williams, vice president; Newton M. Todd and R.S. Oakford, directors, in addition to those already mentioned. The Merchants National Trust and Savings Bank was one of the oldest financial institutions in Southern California, chartered as a national bank in 1886. It had total resources in excess of $140,000,000 and was operating 35 offices in Southern California.[13] 

In August 1928, Merchants National Company, owned by the shareholders of Merchants National Trust and Savings Bank of Los Angeles, provided investment service at 36 locations with representatives permanently located at the bank's offices in Hollywood, Redlands and Riverside and at the First National Bank of Long Beach.[14]

On January 23, 1929, Will C. Wood, state superintendent of banks, approved the purchase of the Bank of San Clemente and the First National Bank of Long Beach by the Bank of America of California. Both banks would be operated as branches of the Bank of America.[15] The Bank of America of California, a consolidation of the Merchants National Trust and Savings Bank of Los Angeles and the United Bank and Trust Company of San Francisco, absorbed the First National Bank of Long Beach.[16] On Thursday, February 28, 1929, a special meeting of the stockholders of the First National Bank of Long Beach was held in the bank at the southeast corner of Fourth Street and Pine Avenue to vote on the matter of placing the institution in voluntary liquidation and appointing a liquidating agent. W.P. Nestle was cashier.[17]

In August 1929, announcement was made by Bond & Goodwin & Tucker, Inc., that Mr. Nathan C. Burson, formerly with the First National Bank of Long Beach, now the Bank of America, for 17 years, was appointed associate manager of the firm's Long Beach office with Charles Lee Cronk, manager, at 1204-5 Security Building.[18]

Official Bank Title

1: The First National Bank of Long Beach, CA

Bank Note Types Issued

1882 Brown Back $10 bank note with pen signatures of Miller, Assistant Cashier and R.D. Judkins, President. Courtesy of the NBNCensus.com
1902 Plain Back $20 bank note with pen signatures of N.C. Burson, Assistant Cashier and R.D. Judkins, Vice President. Courtesy of Heritage Auctions, www.ha.com
1902 Plain Back $10 bank note with stamped signatures of W.W. Garner, Assistant Cashier and R.D. Judkins, President. Courtesy of Heritage Auctions, www.ha.com

A total of $1,905,050 in National Bank Notes was issued by this bank between 1900 and 1929. This consisted of a total of 152,404 notes (152,404 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
1882 Brown Back 3x10-20 1 - 11000
1882 Date Back 3x10-20 1 - 2400
1882 Value Back 3x10-20 2401 - 2659
1902 Plain Back 3x10-20 1 - 24442

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1900 - 1929):

Presidents:

Cashiers:

Other Known Bank Note Signers

Bank Note History Links

Sources

  1. ↑ The Los Angeles Times, Los Angeles, CA, Thu., Dec. 15, 1898.
  2. ↑ The San Francisco Call and Post, San Francisco, CA, Thu., May 10, 1900.
  3. ↑ The San Francisco Call and Post, San Francisco, CA, Wed., June 27, 1900.
  4. ↑ Press-Telegram, Long Beach, CA, Fri., Apr. 5, 1901.
  5. ↑ Press-Telegram, Long Beach, CA, Thu., Jan. 25, 1906.
  6. ↑ Press-Telegram, Long Beach, CA, Tue., Jan. 22, 1907.
  7. ↑ The Long Beach Telegram and The Long Beach Daily News, Long Beach, CA, Thu., Jan. 30, 1908.
  8. ↑ The Long Beach Telegram and The Long Beach Daily News, Long Beach, CA, Fri., Jan. 31, 1908.
  9. ↑ Press-Telegram, Long Beach, CA, Mon., July 12, 1920.
  10. ↑ Press-Telegram, Long Beach, CA, Sat., Feb. 25, 1922.
  11. ↑ Press-Telegram, Long Beach, CA, Sat., July 6, 1926.
  12. ↑ Press-Telegram, Long Beach, CA, Wed., Jan. 12, 1927.
  13. ↑ The Los Angeles Times, Los Angeles, CA, Thu., Mar. 15, 1928.
  14. ↑ The Los Angeles Times, Los Angeles, CA, Fri., Aug. 3, 1928.
  15. ↑ Ventura County Star, Ventura, CA, Wed., Jan. 23, 1929.
  16. ↑ The Long Beach Sun, Long Beach, CA, Mon., Jan. 21, 1929.
  17. ↑ The Long Beach Sun, Long Beach, CA, Sun., Jan. 27, 1929.
  18. ↑ The Long Beach Sun., Long Beach, CA, Mon., Aug. 5, 1929.
Retrieved from "https://banknotehistory.mywikis.wiki/w/index.php?title=First_National_Bank,_Long_Beach,_CA_(Charter_5456)&oldid=55965"