First National Bank, Luray, KS (Charter 10065)
First National Bank, Luray, KS (Chartered 1911 - Liquidated 1934)
Town History
Luray is a city in Russell County, Kansas. As of the 2020 census, the population of the city was 166. In 1910 the population was 341, peaking in 1920 at 475. Luray was established as the community of Lura in the 1870s. In 1887, the spelling of the town's name was changed to Luray. Luray incorporated as a city in 1904.
Luray is located at the junction of U.S. Route 281 and Kansas Highway 18 (K-18) in north-central Kansas. It is 118 miles northwest of Wichita, 218 miles west of Kansas City and 18 miles northeast of Russell, the county seat. Located in the Smoky Hills region of the Great Plains, Luray sits on the north side of Wolf Creek, a tributary of the Saline River. Coon Creek, a tributary of Wolf Creek, flows southeast along the eastern edge of the community.
Luray had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.
Bank History
- Organized May 22, 1911
- Chartered August 9, 1911
- Conversion of The Luray Bank
- Conservatorship March 22, 1933
- Liquidated July 31, 1934
- Absorbed by Waldo State Bank, Waldo, KS
On June 2, 1900, the Luray State Bank made application for its charter with $7,500 capital stock, nearly all taken by local stockmen. The directors were W.P. O'Brien, Anderson Dolton, R.T. Fowler, J.A. Hirst and Chas. Lindquist. The first two would be president and vice president, respectively; and Henry C. Ruppenthal, cashier. Mr. Ruppenthal as formerly of Company M., Twentieth Kansas volunteers.[3]
In August 1900, A. Dolton was the new cashier of the Luray State Bank, his name being written over that of H.C. Ruppenthal.[4] The report as of the close of business on September 1st showed total resources of $31,244.06, with capital stock paid in $7,500, undivided profits $31.65, and deposits $23,231.86. Directors attesting to the correctness of the report were R.T. Fowler, W.P. O'Brien, and A. Dolton.[5]
On August 9, 1911, the Luray State Bank ceased to exist, being succeeded by the First National Bank of Luray. There was no change in the officers or directorate. The capital stock of the new institution was $30,000 and it surplus was $6,500.[6]
The First National Bank of Luray celebrated its 17th birthday on July 17th, 1917. Starting on May 30, 1900 at a meeting held at the home of Mrs. M.E. VanScoyoc, The Luray State Bank was organized with $7,500 capital and opened for business July 17 in the K. Dalton building on South Main Street which had been purchased by the bank. A new, stone building was completed in the spring of 1904. On April 4, 1911, it was decided to increase the capital stock to $30,000 and incorporate as a national bank.
W.P. O'Brien had been president of the bank ever since its organization in 1900. The vice presidents had been A. Dolton, R.T. Fowler, G.W. Elliott, and E.E. O'Brien. H.C. Ruppenthal was the first cashier of the bank. The others had been A. Dalton, Bert B. McReynolds, P.E. Moss, E.E. O'Brien, and R.H. Lively. Bert B. McReynolds was the first assistant cashier. The other assistant cashiers had been John F. McReynolds, P.E. Moss, O.I. Stevenson, B.K. Sanford and R.H. Lively. The following had served as directors: W.P. O'Brien of Luray; Chas. Lindquist of Lincoln; Joseph A. Hirst of Kansas City, Kansas; A. Dalton, now of La Harpe; R.T. Fowler now president of the First National Bank of Lucas; G.A. O'Brien, deceased, July 4, 1902; G.W. Elliott of Luray; John A. Spoon of Lucas; P.W. Goeble now president of the Commercial National Bank of Kansas City, Kansas and president of the American Bankers' Association; Bert B. McReynolds now cashier of the Merchants State Bank of Plainville; Joseph Hirst of Osborne; P.E. Moss now cashier of the Farmers National Bank at Lincoln; J.E. McReynolds now cashier of the Codell State Bank; J.B. Mack of the Mack-Welling Lumber Co. of Luray; Charles S. Wyckoff, president of the Waldo State Bank; and E.E. O'Brien of Luray. The bank's directors in July 1917 were W.P. O'Brien, George W. Elliott, Chas. Lindquist, Joseph Hirst, J.B. Mack, Chas. S. Wyckoff, J.A. Spoon, J.F. McReynolds, and E.E. Obrien.[7]
On Saturday, February 27, 1926, a deal was consummated whereby the stockholders of the Farmers State Bank of Luray sold their stock to the directors of the First National Bank of Luray. The consolidation of the two bank in the near future would reduce operating expenses which had mad the past few years almost impossible to make a fair return.[8] The combined assets as of March 1, 1926, showed total resources $495,255.64, capital stock $55,000, surplus & undivided profits $20,644.27, national bank circulation $29,500, and deposits $359,818.49.[9] In October 1926, the First National Bank was occupying the fine building formerly the home of the Farmers State Bank.[10]
In November 1926, the directors were J.B. Mack, J.F. McReynolds, Chas. S. Wyckoff, G.W. Elliott, J.R. Marlar, W.P. O'Brien, and J.A. O'Leary. The officers were W.P. O'Brien, president; J.A. O'Leary, vice president & cashier; G.W. Elliott, vice president; Genevieve Shull and M.B. O'Leary, assistant cashiers; and Gladys Swenson, bookkeeper. At the close of business on October 7, 1926, the First National Bank had total assets of $377,345.50, Capital, surplus and undivided profits $42,911.58, circulation $30,000, and deposits $276,581.99.[11]
In December 1933, consolidation of the First National Bank of Luray and the Waldo State Bank was completed. The banking offices would be at Luray with J.P. Ruppenthal of Russell as president of the institution.[12] J.A. O'Leary and E.A. Ford would have active management of the bank.[13]
The Union Town Company established the town of Waldo on October 1, 1888, having acquired 280 acres of land on a line of the Union Pacific Railroad. The community grew over the following decades, reaching a population of approximately 300 by 1915. A small business community, including a bank, stores, and three grain elevators, developed during the 1900s. The town served as an agricultural shipping and receiving point for the surrounding area. Waldo incorporated as a city in May 1911.
Twenty national banks which had been in conservators' hands were reopened during the first 10 days of February 1934 according to Comptroller of the Currency O'Connor. There were 200 unlicensed national banks in the United States, 271 of which had approved reorganization plans and 59 disapproved plans. Kansas banks licensed to resume business included the Garden City National Bank and the First National Bank of Luray.[14]
On June 3, 1958, J.A. O'Leary, Sr., 57, president of the People's State Bank at Luray in Russell County was appointed state bank commissioner by Gov. Docking. O'Leary, a Democrat, succeeds Ralph Medlin, Oakley who died last week. O'Leary was born in Russell County and went to work in the Frist National Bank at Luray at the age of 16. He became president of the People's State Bank in May of 1937.[15]
Official Bank Title
1: The First National Bank of Luray, KS
Bank Note Types Issued
A total of $355,120 in National Bank Notes was issued by this bank between 1911 and 1934. This consisted of a total of 28,508 notes (22,664 large size and 5,844 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1902 Date Back 3x10-20 1 - 1850 1902 Plain Back 3x10-20 1851 - 5666 1929 Type 1 6x10 1 - 751 1929 Type 1 6x20 1 - 223
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1911 - 1934):
Presidents:
Cashiers:
- Peter Edmund Moss, 1911-1912
- Earlbert E. O'Brien, 1913-1916
- Robert Henry Lively, Jr., 1917-1917
- John Ferdinand Duwe, 1918-1920
- John A. O'Leary, Sr., 1921-1928
- Maurice Bernard O'Leary, 1929-1931
- John A. O'Leary, Sr., 1932-1932
Other Known Bank Note Signers
Bank Note History Links
Sources
- Luray, KS, 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 Luray Herald, Luray, KS, Thu., Feb. 5, 1920.
- ↑ The Luray Herald, Luray, KS, Thu., Nov. 11, 1926.
- ↑ The Topeka Capital-Journal, Topeka, KS, Sat., June 2, 1900.
- ↑ The Russell Record, Russell, KS, Sat., Aug. 11, 1900.
- ↑ The Russell Record, Russell, KS, Sat., Sep. 15, 1900.
- ↑ The Luray Herald, Luray, KS, Fri., Aug. 11, 1911.
- ↑ The Luray Herald, Luray, KS, Thu., July 19, 1917.
- ↑ Lucas Independent, Lucas, KS, Wed., Mar. 10, 1926.
- ↑ The Luray Herald, Luray, KS, Thu., Mar. 18, 1926.
- ↑ The Luray Herald, Luray, KS, Thu., Oct. 21, 1926.
- ↑ The Luray Herald, Luray, KS, Thu., Nov. 4, 1926.
- ↑ The Belleville Telescope, Belleville, KS, Thu., Dec. 21, 1933.
- ↑ The Salina Journal, Salina, KS, Wed., Dec. 9, 1953.
- ↑ The Hutchinson News, Hutchinson, KS, Fri., Feb. 16, 1934.
- ↑ The Ottawa Herald, Ottawa, KS, Tue., June 3, 1958.