First National Bank, Shippenville, PA (Charter 7874)
First National Bank, Shippenville, PA (Chartered 1905 - Open past 1935)
Town History
Shippenville is a borough in Clarion County, Pennsylvania. The population was 446 at the 2020 census. In 1900 the population was 313.
The borough was laid out in 1826 by the Hon. Richard Shippen from whom it takes its name. It is one of the oldest in Clarion County. The land on which the town was built was owned by Judge Henry Shippen. In 1877 the Emlenton and Shippenville railroad was completed connecting with the Pennsylvania Railroad at Emlenton by way of Ritchey Run and Monroe, Knox, Elk City, and Shippenville, its northern terminus. In later years this road was taken over by the B. & O. Railroad and extended to Kane, Pa. During the oil excitement which started in Elk City around 1875, it did a very prosperous business. For many years this narrow gauge road was the only inlet or outlet by rail for the town and very frequently was late by even as much as twenty-four hours.
Shippenville is located in northwestern Clarion County; U.S. Route 322 passes through the borough, leading southeast 5 miles to Clarion, the county seat, and northwest 23 miles to Franklin. Interstate 80 is 5 miles to the south via US 322 and Pennsylvania Route 66.
Shippenville had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.
Bank History
- Organized August 1, 1905
- Chartered August 19, 1905
- Opened for business November 15, 1905
- Bank was Open past 1935
- Absorbed by First Seneca Bank and Trust Company of Oil City, PA on March 28, 1955
The First National Bank of Shippenville opened for business on November 15, 1905 In 1905, in a well-planned two story brick building erected by the bank. The directors were R.R. Snyder, D.A. Bryner, Thomas M. Arnold, W.S. Shull, John Gibson, John Hach, W.A. Graham, and J.R. Bangert. The officers were R.R. Snyder, president; John Gibson and D.A. Bryner, vice presidents; and H.H. Bittenbender, cashier.
A the close of business on August 22, 1907, the bank reported resources of $182,290.26 including loans and discounts of $116,703.68, bonds to secure circulation $20,000, banking house, furniture and fixtures $4,134.72, cash (specie and legal tender notes) $8,140.05. Liabilities included capital stock of $25,000, surplus $1,500, undivided profits $2,163.17, and national bank notes outstanding $20,800.
In August 1917, the bank reported payments of $57,100 in interest and $34,250 in dividends to stockholders since opening in 1905. The directors were T.M. Arnell, W.A. Graham, John Gibson, R.R. Snyder, D.A. Bryner, Dr. J.R. Bangert, John A. Hach, John F. Metzger, and H.H. Bittenbender. The officers were R.R. Snyder, president; D.A. Bryner and John Gibson, vice presidents; H.H. Bittenbender, cashier; and I. Harding, bookkeeper.
In January 1922, the directors were John Gibson, W.A. Graham, D.A. Bryner, J.R. Bangert, J.A. Hach, T.M. Arnold, J.F. Metzger, R.LR. Snyder, and H.H. Bittenbender. The officers were D.A. Bryner, president; John Gibson, vice president; H.H. Bittenbender, cashier; Marie McElhattan, assistant cashier; and Irene Mahle, bookkeeper.
In January 1935, the directors re-elected were John A. Hach, John F. Metzger, Wade A. Jeannerat, H.H. Bittenbender, and R.LR. Snyder. The officers were John A. Hach, president; H.H. Bittenbender, cashier; Irene Mahle, assistant cashier; and Florence McElhattan, bookkeeper. In 1936 the same officers and directors were elected with the addition of John F. Metzger as vice president.
On Tuesday, December 8, 1936, sentences of seven and a half years a piece were meted out in federal court at Pittsburgh to the five confessed bandits who "Stuck up" the First National Bank at Shippenville, slightly wounding R.LR. Snyder in an exchange of gunfire, and escaping by auto with a meagre loot of $47. The quintet was sent to the federal prison at Lewisburg, Pa., where a detainer was lodged against them by Clarion County authorities on aggravated assault and larceny charges, for a later trial. The five were Kenneth Myers, 27, of Buffalo; Bernard Grover, 31, of North Collins, NY; John Brooks, 25, of Coudersport; and Frank Zawislak, 20, and William Pinnage, 19, both of Austin. The men were arrested by state police Saturday night, after district police had sought them in a widespread manhunt. Myers and Grover were arrested at Warren, Zawislak and Pinnage at Coudersport, and Brooks at Ridgway. The arrest of Myers and Grover "broke" the case, police said, and implicated the other three in the gang. From them, police learned how the quintet had split up early Friday near Clarion, with three of its members hitch-hiking to Butler, leaving their skimpy loot in the rumble seat of the car, and rode a train to Ridgway. Grover admitted firing the shot, from a 45 calibre automatic, which went through the window of the bank and struck Snyder in the shoulder as the latter attempted to open fire on the gunmen with a high powered rifle. Joseph Webb fired several shots after the bandits from a pistol as they drove away. The three men entered the bank just at closing time last on Thursday, December 3rd, and confronted Cashier H.H. Bittenbender, Miss Irene Mahle, and Mrs. Florence McElhatten, demanding money. When a passerby in the street saw the holdup and warned Snyder in his store across the street, Snyder seized a rifle and stepped outside. The bandits scooped some currency and change from the counter and fled. The men drove toward Clarion, turning to the right at the Brenneman's Corners intersection. The last member of the gang was arrested Saturday night, and their trials were over exactly five days later. Their confessions were said to indicate that the gang had planned to hold up the two Clarion banks, but abandoned the idea because of the number of employees in each. Other projected "jobs," however, were to have been banks at Austin, Marienville and Summerville. Snyder and Bittenbender appeared against the gunmen before the federal jury at Pittsburgh on Monday. It was expected that, after service of their sentences under the federal bank-robbery act, they would stand trial in Clarion County on the other charges pending against them.
Rollin La Rue Snyder, Druggist and Bank President at Shippenville, Dies. On December 12, 1954, R. LR. Snyder, 74, prominent druggist and banker of Shippenville where he had served in all important offices of the borough, died at 1:10 p. m. Sunday in the family home. He was born March 9, 1879, in Shippenville, the son of R.R. and Annie Anderson Snyder. He was married June 15, 1910, to Mabel Hach. Mr. Snyder was a member of the Presbyterian Church of Clarion and had been educated in the Randolph Academy, Randolph, NY., Grove City College, and University of Pittsburgh. He graduated from the latter institution as a pharmacist. For over 40 years, Mr. Snyder operated a drug store in Shippenville. He served as a burgess of the borough and as justice of the peace. He served as the second president of the Clarion Kiwanis Club and was an honorary member of the Pennsylvania Game Commission. He was president and director of the First National Bank of Shippenville at the time of his death. From 1940-54 he served as head of the Department of Public assistance for Clarion County and retired in March of this year. A life member of the Masonic Lodge, he was awarded a 50-year membership in the Eden Royal Arch Chapter of Clarion and recently given a 50-year pin from the Eden Lodge, No. 550, of Knox. He also was a member of Franklin Commandery No. 44, Knights Templar, and Zem Zem Temple, Erie. In 1936 he narrowly missed being killed by robbers of the Shippenville bank and in 1925 he was instrumental in foiling the plans of bank robbers to hold up the Clarion County National Bank. In addition to his widow, he was survived by a nephew, Edwin E. Hach of Shippenville.
In January 1955, the directors were H.M. Hufnagel, L.M. Clark, Mabel H. Snyder, J.P. Gruber, A.N. Faulkner, and Wilber H. Kiser. The officers wither H.M. Hufnagel, chairman of the board; L.M. Clark, vice president; Irene M. Gosetti, cashier; and Paul D. Neil, assistant cashier. On January 13, 1955, stockholders voted 247 for and 3 against the merger of the First National with the First Seneca Bank and Trust Company. Shareholders of the Citizens Trust Co. of Clarion would vote on a similar proposal on the 18th. Richard H. Wells was president of First Seneca. On Monday, March 28, 1955, The Citizens Trust Company of Clarion and First National Bank of Shippenville became offices of the First Seneca Bank and Trust Company of Oil City. The combined resources of the institution were approximately $52 million.
In June 1964, Glenn J. Biltz, president of the First Seneca Bank and Trust Co. announced the retirement of Mrs. Irene M. Gosetti as manager of the Shippenville office of the bank. Mrs. Gosetti marked her 45th year as an employee and officer of both the First National Bank of Shippenville and First Seneca Bank. After graduating from Welch's Business College, Mrs. Gosetti joined the Shippenville bank. She was cashier at the time that the bank became the Shippenville office of First Seneca Bank.
Official Bank Title(s)
1: The First National Bank of Shippenville, PA
Bank Note Types Issued
A total of $426,950 in National Bank Notes was issued by this bank between 1905 and 1935. This consisted of a total of 34,433 notes (28,560 large size and 5,873 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 - 900 1902 Date Back 3x10-20 1 - 2110 1902 Plain Back 3x10-20 2111 - 6240 1929 Type 1 6x10 1 - 650 1929 Type 1 6x20 1 - 150 1929 Type 2 10 1 - 851 1929 Type 2 20 1 - 222
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1905 - 1936):
Presidents:
- Robert Reid Snyder, 1906-1921
- David Albert Bryner, 1922-1922
- Dr. John R. Bangert, 1923-1927
- John Albert Hach, 1928-1935
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 Shippenville (Wikipedia)
- General information on Clarion County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Shippenville, PA, Wikipedia, https://en.wikipedia.org/wiki/Shippenville,_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://spmc.org/bank-note-history-project
- The Clarion Democrat, Clarion, PA, Thu., Nov. 9, 1905.
- The Clarion Democrat, Clarion, PA, Thu., Aug. 29, 1907.
- The Clarion Democrat, Clarion, PA, Thu., Aug. 23, 1917.
- The Clarion Democrat, Clarion, PA, Thu., Jan. 12, 1922.
- The Clarion Democrat, Clarion, PA, Thu., Jan. 10, 1935.
- The Clarion Democrat, Clarion, PA, Thu., Dec. 10, 1936.
- The News-Herald, Franklin, PA, Mon., Dec. 13, 1954.
- The News-Herald, Franklin, PA, Fri., Jan. 14, 1955.
- The Oil City Derrick, Oil City, PA, Wed., Jan. 19, 1955.
- The Kane Republican, Kane, PA, Tue., Mar. 29, 1955.
- The News-Herald, Franklin, PA, Thu., June 11, 1964.