First National Bank, New Salem, PA (Charter 6599)
First National Bank, New Salem, PA (Chartered 1903 - Open past 1935)
Town History
New Salem is an unincorporated community located in Menallen Township, Fayette County, Pennsylvania. The population of New Salem was 579 as of the 2010 census.
New Salem is located in western Fayette County, in the southwest part of Menallen Township. It is bordered to the west by Buffington and to the south, across Dunlap Creek, by German Township. New Salem Road leads southeast 7 miles to Uniontown, the county seat, and northwest 3 miles to Pennsylvania Route 166 south of Republic. New Salem is about 38 miles south of Pittsburgh.
New Salem, Fayette County, had one National Bank chartered during the Bank Note Era, and this bank issued National Bank Notes. There is a second New Salem in Pennsylvania that also had a National Bank, but it is in Westmoreland County. New Salem, Westmoreland County is about 29 miles east of Pittsburgh.
Bank History
- Organized December 10, 1902
- Chartered January 30, 1903
- Opened for business March 16, 1903
- Bank was Open past 1935
- Consolidated October 20, 1936 with the Second National Bank of Uniontown, Charter 5034
The First National Bank of New Salem, Pennsylvania commenced business on March 16, 1903 with $25,000 in Capital. In January 1907, the Directors were John C. Neff, Elias Hatfield, Dr. James D. Cox, John H. Antrim, W.M. Funk, Francis W. Byrne, J.W. Scott, Iden Vail and officers were John C. Neff, President; Elias Hatfield, Vice President; and Charles S. Hempstead, Cashier. The surplus and earnings fund was increased from $9,000 to $12,500.
In January 1936, all former directors were reelected and included George H. Reynolds, president; Charles A. McCombs, vice president; Mrs. Alice U. Cox, secretary; Alfred Armstrong and John T. Harshman. The board then elected W.J. Delo, cashier; Marling Tracey, assistant cashier; and C.S. Hempstead, teller.
On Tuesday, October 20, 1936, Cashier W.J. Delo published a legal notice to depositors that deposits of the First National Bank of New Salem were assumed by the Second National Bank of Uniontown, Pennsylvania.
Official Bank Title(s)
1: The First National Bank of New Salem, PA
Bank Note Types Issued
A total of $375,550 in National Bank Notes was issued by this bank between 1903 and 1935. This consisted of a total of 30,044 notes (30,044 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 1902 Red Seal 3x10-20 1 - 1750 1902 Date Back 3x10-20 1 - 2330 1902 Plain Back 3x10-20 2331 - 5761
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1903 - 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 New Salem (Wikipedia)
- General information on Fayette County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- New Salem, PA, Wikipedia, https://en.wikipedia.org/wiki/New_Salem,_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://bbdata.banknotehistory.com
- Huntoon, P., Dec 2019, New Salem, Pennsylvania—-things are not as they appear: BNR, v. 68, p. 24-27.
- The Morning Herald, Uniontown, PA, Sat., Feb. 16, 1907.
- The Evening Standard, Uniontown, PA, Tue., Oct. 21, 1913.
- The Evening Standard, Uniontown, PA, Wed., Jan. 15, 1936.