First National Bank, Osborne, KS (Charter 3319)

The old First National Bank of Osborne, Kansas, located on the corner of Second and Main Streets (formerly Arch and Penn Streets). At bottom left is the signage for the law office of Walrond, Mitchell and Heren, 1886. At top right, arch above the middle, narrow entrance from Second Street. At top left, arch above the entrance to the law offices. Courtesy of Google Maps, ca2014

First National Bank, Osborne, KS (Chartered 1885 - Receivership 1928)

Town History

An 1886 Map of Osborne, Kansas. The First National Bank was on the corner of Penn and Arch Street and the Exchange Bank was on the corner of Penn and East Streets.

Osborne is a city in and the county seat of Osborne County, Kansas. As of the 2020 census, the population of the city was 1,335. In 1880 the population was 719 growing to 1,881 by 1930.

Settlers from southeastern Pennsylvania founded Osborne City in May 1871. They named the settlement after Vincent B. Osborne, a Union Army veteran of the American Civil War, after whom Osborne County also is named. Osborne City became the permanent county seat in November 1872. A district judge officially proclaimed it a city in May 1873, but the townspeople failed to legally organize a government. Five years later, a second attempt was successful, and the settlement incorporated as a city in 1878. "City" was dropped from its name by the mid-1890s.

A bridge was built at Osborne over the Solomon River in 1878.

Osborne had three National Banks chartered during the Bank Note Era, The First National Bank (Charter 3319), The Exchange National Bank (Charter 3472), and The Farmers National Bank (Charter 5834), and all three of those banks issued National Bank Notes.

Bank History

A July 1879 advertisement for the Osborne County Bank.

Advertisement from July 1900 for the First National Bank of Osborne, Kansas.

• Organized January 28, 1885
• Chartered March 7, 1885
• Succeeded Osborn County Bank
• Receivership March 30, 1928

On September 25, 1877, a charter was filed in the office of the Secretary of State at Topeka incorporating "The Bank of Beloit." The directors were A.N. Schuster, H.T. Walker, W.H. Burke, S.A. Walker, and J.W. Walker. The bank planned to open for business on October 15th. The officers were A.N. Schuster, president; H.T. Walker, vice president; S.A. Walker, cashier; and J.W. Walker, assistant cashier.

In May 1879, the Osborne County Bank was prepared to transact any business in the banking line. Mr. S.A. Walker, cashier, who had the general supervision of the bank, was a gentleman well-qualified for the responsible duties, possessing besides the sterling business education and tact, those personal elements of character and thrift. His assistant, Mr. Will Earls, was also popular for his efficiency and gentlemanly intercourse with patrons. The directors were A.N. Schuster, St. Joseph, Missouri, H.T. Walker, Hon. Joel Holt, W.H. Burke, J.W. Walker, Jas. A. Wilson, Jno. H. Broderick, and S.A. Walker. The bank had capital stock of $50,000. The community had long stood in need of a bank.

In the Fall of 1882, Osborn was a city of about 1,500 inhabitants and the county seat of Osborn County. For some cause unknown, the courthouse, a two-story building was clear out of town. The Lipton House was a good place for a weary traveler to stop. W.H. Burke ran the Osborn County Bank and was the Republican candidate for the legislature. Drs. Harris and Hudson practiced medicine and ran a first-class drug store. Riley & Bowen operated a good livery, feed and sale stable while the Smith Bros. were general merchants with a full stock on hand. J.E. Wright was with Wilson & Co., merchants; A. Fintzer and H. Durgee were shoemakers; Saxey & Barbour were attorneys-at-law; Murry & Murry ran a grocery store and Geo. Brindle operated the village meat market. 

In June 1883, a number of charters were filed with the secretary of state including one for the Osborne County Bank, capital stock $50,000 and one for Patrons' Co-operative Bank, Olathe, capital stock $75,000.

Frank R. Knox arrived in February 1885 to assume a position in the Osborne County Bank. Mr. Knox was well-known throughout the county having been engaged in the lumber business for some years. The bank made application for a charter to become the First National Bank of Osborne with paid-up capital of $50,000. The First National Bank of Osborne, Kansas was chartered on March 7, 1885. The paid-up capital was $50,000. The directors were W.H. Burke, president; D.P. Abbott, vice president; W.F. Earls, cashier; Frank R. Knox, assistant cashier; G.W. Walrath, Cyrus Heren, and J.A. Earls.

In January 1890, Robert J. Elliott was chosen to fill the position of assistant cashier of the First National Bank.

In March 1891, Robert Elliott, lately cashier of the First National Bank of Osborne, Kansas, had accepted a position with the Schuster-Hax National Bank of St. Joseph, Missouri.

In January 1895, changes in bank officials in Kansas included the addition of F.B. Denman as an assistant cashier of the First National Bank of Osborne.

In July 1900, the directors were C.J. Gillette, Benj. Brown, T.M. Walker, Geo. Bicknell, and P.G. Walker. The officers were T.M. Walker, president; C.J. Gillette, vice president; and P.G. Walker, cashier.

In April 1901, the well-known editor and politician of Osborne County, Charley Landis, sold his paper, The Osborne Farmer, to Bert Walker & Tom Skinner. Mr. Landis would engage in banking as assistant cashier of the First National Bank of Osborne.

In 1911, the officers were F.B. Denman, president; Henry Ruthi, vice president; C.W. Landis, cashier; and E.L. Botkin, assistant cashier. The directors were F.B. Denman, E.E. Marshall, Henry Ruthi, W.P. Gillette, F.W. Gaylord, C.W. Landis.

In May 1913, several Kansas bankers were associated in a financial venture in San Diego, California. Frank H. Burrow resigned as vice president of the National Reserve Bank, effective July 1st. He had arranged to go to San Diego and engage in the banking business in company with Charles W. Landis, who recently sold his interest in the First National Bank of Osborne, Kansas. Financially associated with them were Mr. Burrow's father, Joel R. Burrow, ex-Secretary of State and president of the Central National Bank of Topeka, and E.E. Ames of the same bank. The latter gentlemen, however, would dispose of none of their Kansas interests, but had arranged to spend a part of each year on the Pacific Coast in the interest of the new Union National Bank of San Diego, charter #10435. Frank Burrow was born in Smith Center Kansas, where he grew up in his father's bank. In 1907 he was appointed national bank examiner by Comptroller Ridgely, which position he filled until the organization of the Central National Bank of Kansas City of which he was made vice-president. When the Central National and the National Reserve were consolidated three years ago Mr. Burrow was made vice-president of the combined institution. There was a Kansas colony of five hundred or more members in the neighborhood of San Diego.

On Tuesday afternoon, January 11, 1921, officers elected for the First National were: F.B. Denman, president; Henry Ruthi, vice president; W.P. Gillette, vice president; E.G. Denman, cashier; R.M. Bays, assistant cashier; B.F. Chilcott, E.G. Denman, F.B. Denman, W.P. Gillette, and Henry Ruthi, board of directors. Vice President Gillette would take an active part in the management of the business. Cashier J.B. Ansley's resignation was accepted with regret. He retired after filling the position for seven years with satisfaction to the stockholders and patrons of the bank.

In March 1928, discovery of an apparent irregularity of between $8,000 and $10,000 in the First National Bank of Osborne was followed by the suicide of Frank B. Denman, president, and the closing of the bank. The bank opened at the regular hour on Saturday, March 24th, but closed about 10 a.m. when a small run was started by depositors. L.K. Roberts, district chief national bank examiner in Kansas City announced the bank seemed in good shape despite the irregularity.

In February 1929, a suit had been filed for $183,805 against directors of the First National Bank of Osborne alleging too much authority was placed in the hands of F.B. Denman, the late president. The defendants included Henry Ruthi, B.F. Chilcot, Bert P. Walker, state printer; E.G. Denman, and Mrs. Millicent Denman. In March 1929, the First National Bank building at Osborne was sold to Harvey McCaslin, Osborne attorney, by O.W. Sage, receiver of the defunct bank. The ground floor would be used as offices by the attorney and he expected to fit the second floor into apartments.

On Monday, July 17, 1939, W.P. Gillette, long-time resident of Osborne was killed instantly by the eastbound Missouri Pacific freight in the railroad yards at Osborne. No one knows exactly what occurred as his badly mangled body was not discovered until the tram had done considerable switching. Funeral services were held the same evening. Mr. Gillette was one of Osborne's most prominent citizens.

Official Bank Title

1: The First National Bank of Osborne, KS

Bank Note Types Issued

1882 Brown Back $5 bank note with pen signatures of W.F. Earls, Cashier and W.H. Burke, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

1902 Plain Back $10 bank note with stamped signatures of E.G. Denman, Cashier and F.B. Denman, President. Courtesy of Heritage Auctions, www.ha.com

A total of $620,050 in National Bank Notes was issued by this bank between 1885 and 1928. This consisted of a total of 53,924 notes (53,924 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	4x5	1 - 1800
1882 Brown Back	3x10-20	1 - 779
1902 Red Seal	3x10-20	1 - 2275
1902 Date Back	3x10-20	1 - 2900
1902 Plain Back	3x10-20	2901 - 8627

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1885 - 1928):

Presidents:

• William Henry Burke, 1885-1887
• Cyrus Heren, 1888-1889
• Thomas Marshall Walker, 1890-1895
• George Bicknell, 1896-1898
• Thomas Marshall Walker, 1899-1905
• Frank B. Denman, 1906-1927

Cashiers:

• William Flavell Earls, 1885-1885
• Frank Knox, 1886-1889
• Jonathan A. "John" Earls, 1890-1890
• Allen Clark, 1891-1893
• Grover Walker, 1894-1895
• Frank B. Denman, 1896-1898
• Porter Grover Walker, 1899-1902
• Charles W. Landis, 1903-1912
• John Banta Ansley, 1913-1920
• Edgar Gillette Denman, 1921-1927

Other Known Bank Note Signers

• No other known bank note signers for this bank

Bank Note History Links

• First National Bank, Osborne, KS History (NB Lookup)
• Kansas Bank Note History (BNH Wiki)

Sources

• Osborne, 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