First National Bank, Roswell, NM (Charter 5220)
First National Bank, Roswell, NM (Chartered 1899 - Closed (Merger) 1991)
Town History
Roswell is a city in, and the seat of, Chaves County in the U.S. state of New Mexico. As of the 2020 census it had a population of 48,422, making it the fifth-largest city in New Mexico. It is home of the New Mexico Military Institute (NMMI), founded in 1891. The city is also the location of an Eastern New Mexico University campus. Bitter Lake National Wildlife Refuge is located a few miles northeast of the city on the Pecos River. Bottomless Lakes State Park is located 12 miles east of Roswell on US 380.
The Roswell incident was named after the town, though the crash site of the alleged UFO was some 75 miles from Roswell and closer to Corona. The investigation and debris recovery was handled by the local Roswell Army Air Field. On the 50th anniversary of the Roswell incident, an annual UFO Festival was started.
In the 1930s, Roswell was a site for much of Robert H. Goddard's early rocketry work. The Roswell Museum and Art Center maintains an exhibit that includes a recreation of Goddard's rocket engine development workshop, and Goddard High School is named after him.
Roswell's tourism industry is based on aerospace engineering and ufology museums and businesses, as well as alien-themed and spacecraft-themed iconography.
Roswell had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes.
Bank History
- Organized September 2, 1899
- Chartered September 18, 1899
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Merged into United New Mexico Bank at Roswell, NM, May 28, 1991
On July 23, 1890, Edward A. Cahoon left his position as clerk in the Albuquerque National Bank and 3 days later came to Roswell, New Mexico and organized the Bank of Roswell and was appointed cashier. As the story goes, it was his boss in Albuquerque who told him to go to Roswell and open a bank, an he replied, "Hell, I can't run a bank." Late on the afternoon of July 26, 1890, a buckboard wagon with four men and a team of horses pulled up in front of the Pauly Hotel on a dusty Main Street of Roswell after a long drive from Albuquerque. They had $40,000 in cash, the silver and gold in a box under the seat, the bills sewed into the lining of their coats. They rented a room off the hotel lobby and had them a bank.
In June 1895, the comptroller of the currency approved the application of F.J. Godair, El Paso, Texas; W.H. Godair, George E. Cowden, H.N. Garrett, and A.B. Garrett to organize the First National Bank of Roswell, New Mexico, with capital of $50,000. In July, the promoters of the First National Bank of Roswell purchased a controlling interest in the Bank of Roswell, buying the stock of President John W. Poe and Vice President Nathan Jaffa. The Bank of Roswell was nationalized as the First National Bank of Roswell on September 20, 1899 and E.A. Cahoon continued as cashier.
John W. Poe was one of the most prominent financiers of the southwest. He came to Lincoln County in May 1881 as a Deputy U.S. Marshal, first settling in the White Oaks and Tularosa districts. On July 14, 1881, Captain Poe was chief deputy sheriff under Pat F. Garrett, then Sheriff of Lincoln County, and on that date was with Pat Garrett when he killed Billy the Kid at Ft. Sumner. The other deputy present was Tip McKinney. Poe came to Roswell in 1886 and in 1890 he was one of the organizers of the Bank of Roswell. In 1903 he organized the Citizens National Bank of Roswell.
In April 1895, the bank moved from the hotel building to its new location. The bank acquired the Sparks building south of the corner and planned to erect a bank building with a fifty foot frontage.
On April 1, 1901, Mr. Cahoon was one of the organizers of the Roswell Building and Loan Association and a director and later president of the association.
In September 1903, the directors were W.H. Godair, A. Pruit, G.A. Richardson, E.A. Cahoon, J.F. Hinkle, B.F. Barnett, and L.K. McGaffey. The officers were W.H. Godair, president; A. Pruit, vice president; and E.A. Cahoon, cashier.
On Tuesday, January 14, 1930, at the annual meeting of stockholders, all directors were re-elected. The directors were: E.A. Cahoon, Frank Divers, A. Hanny, J.F. Hinkle, C. Hobbs, C.F. Joyce, and R.C. Worswick. All former officers were re-elected with the addition of Paul Schultz who was elected an assistant cashier. The officers were E.A. Cahoon, president; J.F. Hinkle, vice president; Claude Hobbs, cashier; J.E. Moore and Paul Schultz, assistant cashiers.
Official Bank Title(s)
1: The First National Bank of Roswell, NM
Bank Note Types Issued
A total of $1,579,930 in National Bank Notes was issued by this bank between 1899 and 1935. This consisted of a total of 126,781 notes (98,568 large size and 28,213 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 3x10-20 1 - 2670 Territory 1882 Date Back 3x10-20 1 - 1900 Territory 1882 Date Back 3x10-20 1 - 2300 1882 Value Back 3x10-20 2301 - 5500 1902 Plain Back 3x10-20 1 - 14572 1929 Type 1 6x10 1 - 3044 1929 Type 1 6x20 1 - 896 1929 Type 2 10 1 - 3379 1929 Type 2 20 1 - 1194
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1899 - 1935):
Presidents:
- William H. Godair, 1900-1909
- Arthur G. Godair, 1910-1912
- Edward Augustus Cahoon, 1913-1934
- James Fielding Hinkle, 1935-1935
Cashiers:
- Edward Augustus Cahoon, 1900-1912
- Albert Hanny, 1913-1919
- Claude Hobbs, 1920-1934
- James E. "Jack" Moore, 1935-1935
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Roswell, NM, 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
- St. Louis Globe-Democrat, St. Louis, MO, Thu., June 22, 1899.
- Pecos Valley Argus, Carlsbad, NM, Fri., July 21, 1899.
- The Roswell Daily Record, Roswell, NM, Tue., Sep. 1, 1903.
- The Roswell Daily Record, Roswell, NM, Fri., June 19, 1908.
- Alamogordo Daily News, Alamogordo, NM, Thu., July 26, 1923.
- The Roswell Daily Record, Roswell, NM, Wed., Jan. 15, 1930.
- Albuquerque Journal, Albuquerque, NM, Tue., Apr. 30, 1940.