First National Bank, Mount Airy, MD (Charter 7160)
First National Bank, Mount Airy, MD (Chartered 1904 - Open past 1935)
Town History
Mount Airy is a town in Carroll and Frederick counties in Maryland. It is part of both the Washington Metropolitan Area and Baltimore Metropolitan Area. As of the 2010 census the population was 9,288.
Outside the town limits, the surrounding countryside is colloquially referred to as Mount Airy or the "Four-County Area" by locals. The "Four-County Area" derives its name from the fact that the "Mount Airy" mailing area encompasses portions of Frederick, Carroll, Montgomery, and Howard counties.
The community was first settled in 1830 and continued to develop throughout the decade, beginning with the construction of house settlements along Parr's Ridge. A man named Henry Bussard built the first of these houses. This town was known for its train station on the Baltimore and Ohio Railroad (B&O) at Parr's Ridge. The railroad ran from Baltimore to Frederick, cities to the east and west, respectively, of Mt. Airy. Following 1830, the town received its official name after the suggestion of "Mount Airy" from an Irish B&O worker who complained about his freezing ears on a windy work day. Over the years, milling, canning and sewing industries initially helped support Mt. Airy's economy.
The town's proximity to the National Road contributed to its growth. The National Road ran west from Baltimore to Illinois. By the 1890s, the town's growth had increased significantly and three new churches were built (one Episcopal and two Methodist), along with a very important bridge, still standing and known by residents as the Twin Arch, that helped with railroad transportation. Three great fires (1903, 1914, and 1925) caused setbacks in growth, but the town rebuilt every time.
Mount Airy had one National Bank chartered during the Bank Note Era and it issued National Bank Notes.
Bank History
- Organized February 20, 1904
- Chartered March 4, 1904
- Conservatorship March 20, 1933
- Bank was Open past 1935
In January 1904, the comptroller of the currency approved the application to organize a bank in Mount Airy, Maryland, under the title of the First National Bank of Mount Airy. The capital was $25,000. The following gentlemen were interested in the new bank: Charles A. Runkles, Edward M. Molesworth, W.H. Hood, W.D. Jones, and Albert W. Hall.
On Monday, February 29, 1904, the stockholders met at their banking house and completed organization prepatory to opening planned for March 10. The following directors and officers were elected for the first year: President, Milton G. Urner of Frederick; Albert W. Hall of Shaffersville, vice president; Jerry L. Burdette of Damascus, cashier; Charles A. Runkles, Edward M. Molesworth, William H. Hood, Walter R. Rudy, Raymond Barnes, Dr. R.J. Bromwell, of Mount Airy; A.W. Hall of Shaffersville; Winter D. Jones of Lisbon; David R. Roop of Unionville; Otho T. Fout, of Kemptown; Luther G. King of King's Valley; Charles A. Walker of New London; Albart H. Gosnell of Woodbine; Milton G. Urner of Frederick.
The First National Bank began business March 10, 1904 in the building that had been used by Jones & Co., Bankers, on the border line between Carroll and Frederick Counties. In 1905 the First National Bank constructed a new facility on this site at 4 N. Main Street. It was there until a fire destroyed the building on March 25, 1914. A new building was constructed on this site. It too was destroyed by fire on June 4, 1925 and a subsequent building was occupied by the First National until 1960.
In August 1912, the directors were Raymond Barnes, Dr. John E. Bromwell, J.L. Burdette, Otho T. Fout, Albert W. Hall, William H. Hood, Winter D. Jones, John R. Lewis, E.M. Molesworth, David R. Roop, Walter R. Rudy, Charles A. Runkles, Milton G. Urner, and Charles D. Walker. The officers were Milton G. Urner, president; Albert W. Hall, vice president; and J.L. Burdette, cashier. The bank had capital of $25,000, Surplus $16,000, Undivided profits 9,183.53, and individual deposits of nearly $435,000.
On Wednesday, March 25, 1914, fire broke out in Mount Airy. Among the buildings reported burned were the Farmers' Milling and Grain Company and the Mount Airy Lumber and Grain Company. The First National Bank and the Baltimore and Ohio Railroad station were badly damaged. The town was visited by its second disastrous blaze in eleven years and the utter absence of modern fire fighting facilities at Mount Airy suggested the town failed to learn the obvious lesson from the former fire. The bank reopened and operated temporarily from E.M. Molesworth's furniture store.
The night of June 4, 1925, a devastating fire sweeping unchecked through buildings made tinder-dry by excessive heat destroyed more than one-fourth of the business district of Mount Airy and caused damage estimated at $300,000. The First National Bank, the Mount Airy Milling and Grain Company, one of the largest flour mills in Maryland, and the flour mill of Marion V. Runkles, were included in the toll exacted by the flames. Eleven buildings were destroyed despite efforts of fire companies summoned from Frederick, Rockville, Kensington and Ellicott City. Originating on the roof of a wooden building housing the dry goods store of Frank B. Zepp at 5:30 o'clock, the blaze resisted all efforts of fire-fighters and raged until after midnight before firemen announced that the flames, though still smoldering, were under control. The village street in front of Runkels' hardware was bombarded with a fusillade of sportsmen's ammunition and sprayed with burning gasoline. Several thousand cartridges stored in the hardware store exploded and two gasoline station tanks nearby ignited. This fire marked the third time the town had been burned out in 20 years. Ten years ago it suffered a loss of $250,000, and in the initial fire 20 years ago a $50,000 loss was recorded. The First National Bank, whose building was destroyed, reopened in the People's Lumber and Supply Company building.
On February 9, 1926, the Hon. Milton G. Urner, the oldest practicing attorney in Frederick County and father of Chief Judge Hammon Urner of Frederick County Circuit Court, died at the age of 86 years. He was a Representative from Maryland, born in the Liberty district, Frederick County, on July 29, 1839. He attended the common schools, Freeland Seminary, Montgomery County, Pa., and Dickinson Seminary, Williamsport, Pa., and engaged in teaching in his native county 1859-1862. He was admitted to the bar in 1863 and commenced practice in Frederick, becoming State's attorney for Frederick County 1871-1875 and a U.S. Congressman, elected as a Republican to the Forty-sixth and Forty-seventh Congresses (March 4, 1879-March 3, 1883). He was a member of the Maryland senate 1888-1890 and was appointed naval officer at the port of Baltimore by President Harrison in 1890.
On Tuesday, January 17, 1928, at the annual meeting, stockholders elected the following as directors for the ensuing year: C. Ray Barnes, F.E. Beall, J.L. Burdette, Albert W. Hall, John H. Hardy, Winter D. Jones, E.A. Lawrence, John R. Lewis, E.M. Molesworth, David D. Ropp, Walter R. Rudy, A.B. Sellman, Charles D. Walker and reorganized by electing E.M. Molesworth, president; John R. Lewis and Walter R. Rudy, vice presidents; J.L. Burdette, cashier; B.C. Leatherwood, assistant cashier; Frank A. Conaway, teller; and Miss Elizabeth Runkles, bookkeeper.
On May 5, 1933, the conservatorship of the First National Bank of Mount Airy was terminated by order of the Comptroller of the Currency and the assets and the control of the affairs were returned to the board of directors of the bank and restrictions with respect to the segregation and use of deposits received during the conservatorship would no longer be effective. Bradley C. Leatherwood was the conservator.
On May 12, 1954, Hubert P. Burdette, president of the First National Bank of Mount Airy was elected president of the Maryland Bankers' Association.
On August 2, 1959, Frank A. Conaway, president of the First National Bank and former member of the Carroll county school board, died suddenly at his home in Mount Airy. He was a member of the Maryland Bankers' Association and active in civic clubs and affairs. He had been associated with the bank since 1924.
In November 1959, a proposed consolidation of the Farmers and Mechanics-Citizens National Bank of Frederick and the First National Bank of Mount Airy was approved by directors of the two institutions. The consolidated banks would operate under the title and charter of the Frederick bank which was founded in 1817. The Mount Airy bank would operate as an office of the Frederick institution which had five offices in addition to its headquarters on North Market Street, Frederick. The offices were in Libertytown, Union Bridge, the Shopping Center Office at the Frederick Shopping Center, the Citizens Office, corner of Market and Patrick Streets, Frederick, and the Mount Airy Office. Farmers and Mechanics also operated a banking facility at Fort Detrick. Announcement was made jointly by Benjamin L. Shuff, president of the Frederick institution, and L. Eugene Purdum, executive vice president of the Mount Airy Bank. The consolidation was effective on December 31, 1959.
Official Bank Title(s)
1: The First National Bank of Mount Airy, MD
Bank Note Types Issued
A total of $516,370 in National Bank Notes was issued by this bank between 1904 and 1935. This consisted of a total of 41,498 notes (34,368 large size and 7,130 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1902 Red Seal 3x10-20 1 - 1456 1902 Date Back 3x10-20 1 - 2430 1902 Plain Back 3x10-20 2431 - 7136 1929 Type 1 6x10 1 - 818 1929 Type 1 6x20 1 - 222 1929 Type 2 10 1 - 675 1929 Type 2 20 1 - 215
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1904 - 1935):
Presidents:
Cashiers:
Other Bank Note Signers
- Albert W. Hall, Vice President 1904...1922
- There are currently no known Assistant Cashier bank note signers for this bank.
Wiki Links
- Maryland Bank Note History
- General information on Mount Airy (Wikipedia)
- General information on Carroll County (Wikipedia)
- General information on Maryland (Wikipedia)
Sources
- Mount Airy, MD, 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 News, Frederick, MD, Mon., Jan. 25, 1904.
- The News, Frederick, MD, Tue., Mar. 1, 1904.
- The Frederick Post, Frederick, MD, Thu., Aug. 29, 1912.
- Harrisburg Daily Independent, Harrisburg, PA, Wed., Mar. 25, 1914.
- The News, Frederick, MD, Fri., Mar. 27, 1914.
- Baltimore Sun, Baltimore, MD, Fri., June 5, 1925.
- Baltimore Sun, Baltimore, MD, Sat., June 6, 1925.
- The Franklin Repository, Chambersburg, PA, Sat., June 13, 1925.
- The Morning Herald, Hagerstown, MD, Fri., Feb. 12, 1926.
- The Evening Sun, Hanover, PA, Tue., Jan. 17, 1928.
- The News, Frederick, MD, Fri., May 5, 1933.
- The Daily Mall, Hagerstown, MD, Thu., May 13, 1954.
- The Baltimore Sun, Baltimore, MD, Tue., Aug. 4, 1959.
- The Baltimore Sun, Baltimore, MD, Sat., Nov. 14, 1959.