First National Bank, Old Forge, NY (Charter 10964)

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ca.1926 postcard of the First National Bank (center). Courtesy of Robert Moon.

First National Bank, Old Forge, NY (Chartered 1917 - Closed (Merger) 1955)

Town History

Photo of Cashier Carl O. Pfaff in First National Bank. Courtesy of Robert Pfaff

Old Forge is a hamlet in the town of Webb in Herkimer County. In 1798, the 210,000-acre area including Old Forge came into possession of the Brown family of Rhode Island, through a transaction involving Aaron Burr. John Francis Brown attempted to settle about 20 families in the area, but the land was unsuitable for farming, and the area was abandoned by 1803. Another attempt to settle the area was made in 1811, but that failed as well, leaving a few settlers in the area.

Old Forge was incorporated as a village in October 1903. But the incorporation would not last long, as residents voted to dissolve the village on July 11, 1933, 117 to 96, due to the high cost of government operations. After a few lawsuits, and an appeal to the New York Supreme Court, the Village of Old Forge was officially able to dissolve on March 31, 1936. It remains the principal community in the region. Old Forge has an extensive business district, primarily directed at tourism, especially during the summer months. The population was 756 at the 2010 census.

Old Forge had one National Bank chartered during the Bank Note Era (1863-1935), and it issued National Bank Notes.

Bank History

  • Organized Mar 10, 1917
  • Chartered Mar 23, 1917
  • Bank was Open past 1935
  • Merged with Oneida National Bank of Central New York in 1955

Official Bank Title(s)

1: The First National Bank of Old Forge, NY

Bank Note Types Issued

Series 1902 Plain Back $5 bank note with stamped signatures of Carl O. Pfaff, Cashier and Maurice Callahan, President. Courtesy of Robert Pfaff.
Series 1929 Type 1 $5 bank note with printed signatures of Carl O. Pfaff, Cashier and Maurice Callahan, President. Courtesy of Robert Pfaff.

A total of $791,500 in National Bank Notes was issued by this bank between 1917 and 1935. This consisted of a total of 112,580 notes (78,356 large size and 34,224 small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type Sheet/Denoms Serial#s Sheet Comments
1902 Plain Back 4x5 1 - 11018
1902 Plain Back 4x10 1 - 8571
1929 Type 1 6x5 1 - 2632
1929 Type 1 6x10 1 - 1364
1929 Type 2 5 1 - 6996
1929 Type 2 10 1 - 3252

Bank Presidents and Cashiers

First National Bank Presidents and Cashiers during the National Bank Note Era (1917 - 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

References

  • Old Forge, NY, 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://bbdata.banknotehistory.com
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