First National Bank, South Amboy, NJ (Charter 3878)
First National Bank, South Amboy, NJ (Chartered 1888 - Open past 1935)
Town History
South Amboy is a suburban city in Middlesex County, in the U.S. state of New Jersey, located on Raritan Bay. As of the 2020 United States census, the city's population was 9,411, an increase of 780 (+9.0%) from the 2010 census count of 8,631, which in turn reflected an increase of 718 (+9.1%) from the 7,913 counted in the 2000 census.
South Amboy and Perth Amboy, across the Raritan River, are collectively referred to as The Amboys. Signage for exit 11 on the New Jersey Turnpike refers to "The Amboys" as a destination. First settled by the Lenape Native Americans, who called the area around Perth Amboy by the name "Ompoge" (meaning "level ground"), the settlement ultimately became a key port for commerce between Lower New York Bay and Philadelphia, connected first by stagecoach and eventually by railroad. When settled by Europeans in 1684, the city was named New Perth in honor of James Drummond, Earl of Perth, one of the associates of a company of Scottish proprietaries. The Algonquian language name was corrupted to Ambo, or Point Amboy, and eventually a combination of the native and colonial names was used.
As a result of South Amboy's strategic location as a transportation hub, the city has been heavily damaged by military explosives in two major incidents. The 1918 explosions occurred during World War I at the Gillespie Shell Loading Plant, just south of the town. The 1950 explosion struck as Healing Lighterage Company dockworkers were transferring ammunition from a freight train onto barges. Both disasters killed dozens and injured hundreds of local victims, damaged hundreds of South Amboy buildings, required emergency declarations of martial law, and scattered wide areas of ammunition remnants that continue to surface occasionally.
South Amboy had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.
Bank History
- Organized March 17, 1888
- Chartered May 2, 1888
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Changed name to Amboy-Madison National Bank April 8, 1963
- Still in business as Amboy Bank (State bank) (June 2023)
In 1888, realization first came about that the city needed a financial institution of some kind. The First National Bank had its inception in a building opposite the Central Railroad station. At the time of organization, Harry C. Perrine (Sr.), John Mulholland, Benjamin F. Howell, John S. Silvers, Daniel C. Chase, Christian Straub, William G. Howell, and John Wyckoff united to form an institution to meet the needs of the city. Harry C. Perrine, [father of a future head of the bank], acted as the first president. John Wyckoff was elected the first cashier and R.C. Stephenson was employed in June following opening of the bank.
In September 1894, Surrogate Banjamin F. Howell of Cumberland County, New Jersey, was nominated for Congress to represent the Third District. He was born in 1844 and when the Civil War broke out, he entered the 12th New Jersey Volunteers and fought with the regiment throughout the ward until its close in 1865. Returning to private life, he came to South Amboy where he entered into business until 1882 when he was nominated by the Republicans of the county for the office of Surrogate. He was one of the organizers of the First National Bank of South Amboy and was vice president since its organization. He was a director of the National Bank of New Jersey, resigned when elected president of the Peoples National Bank of New Brunswick in 1890. Mr. Howell was a member of the Board of Managers of the New Brunswick Savings Institution as well as many other positions of trust.
In April 1904, the directors were Benj. F. Howell, Christian Straub, Harry C. Perrine, Daniel C. Chase, Henry Wolff, Rufus Blodgett, and Thomas A. Perrine. The officers were Harry C. Perrine, president and R.C. Stephenson, cashier.
In March 1911, the directors were Daniel C. Chase, Harry C. Perrine, Christian Straub, Rufus Blodgett, George V. Bogart, Henry Wolff, and J. Baird Perrine. the officers were Harry C. Perrine, president; R.C. Stephenson, cashier and T. Francis Perrine, assistant cashier. The bank had capital of $50,000, Surplus of $75,000 and undivided profits of $14,000.
Harry C. Perrine, president of the First National Bank of South Amboy, died on July 21, 1915. In 1864 he came to South Amboy and entered into business successfully for three years, after which he went to New York City, returning in 1875 to South Amboy and purchasing what was then known as Swan Hill pottery, later the South Amboy Terra Cotta Company at Swan Hill, then the only manufactory of any note in South Amboy, employing quite a large number of men. In connection with this, he was engaged also in clay mining and the cultivation of cranberries. In 1888 he was chosen president of the First National Bank of South Amboy at its organization, in which responsible position he continued until his death. He was a member of St. Stephen's Lodge, No. 63, F. & A.M. of South Amboy. His son, Harry, Jr., had lately taken the burden of business from the shoulders of his father.
On Tuesday, January 11, 1916, the shareholders elected the following directors: Harry C. Perrine (Jr.), Daniel C. Chase, Henry Wolf, Christian Straub, J. Baird Perrine, George V. Bogart, and R.C. Stephenson. The directors organized by electing Harry C. Perrine, president; Daniel C. Chase, vice president; J. Baird Perrine, secretary of the board; R.C. Stephenson, cashier; and T. Francis Perrine, assistant cashier.
On Monday, March 28, 1921, the general public was invited to the opening of the new bank building between the hours of 1 to 5 o'clock in the afternoon and 7 to 9 o'clock in the evening. The new bank building was at the corner of Broadway and David Street. Inside, the entire banking screen was faced with Napoleon gray marble, having delicately carved pilasters and cornice. The frames and grills of the upper screen were of solid bronze and glazed with a silver embossed plate glass. Harry C. Perrine was president; D.C. Chase, vice president; R.C. Stephenson, cashier; and T. Francis Perrine, assistant cashier.
On Tuesday, January 11, 1933, seven directors were re-elected by stockholders at the annual election. The directors met that same day and re-elected all officers. Harry C. Perrine was elected president; Daniel C. Chase, first vice president; Charles Safran, second vice president; R.C. Stephenson, cashier and secretary to the board; and T. Francis Perrine, assistant cashier. In addition to the officers who were elected as directors, the other directors chosen were Oliver W. Welsh and Dr. Elmer Eulner.
In January 1934, all officers were re-elected and the only changes to the board was the addition of J. David Perrine in place of T. Francis Perrine. On February 14, 1934, Daniel C. Chase, former mayor, state senator and freeholder and for many years an outstanding political figure in New Jersey politics, died at his home in South Amboy. He was in his 84th year. A Democrat in politics, Chase was elected mayor of South Amboy on two different occasions. He was at one time chosen freeholder of Middlesex County, and in 1884 he was elected state senator from Middlesex. While senator he drafted the bill creating the borough of South Amboy. He was survived by his widow and two daughters, Miss Edna Chase of South Amboy and Mrs. A.E. (Lulu Bell) McBride of Baltimore.
On Tuesday, January 8, 1935, Mrs. Harriet G. Chase, widow of Senator Daniel C. Chase, was elected a director of the First National Bank of South Amboy at the annual meeting of shareholders. Mrs. Chase was named to succeed her husband soon after his death and the shareholders voted to return her to the board for the ensuing year. The other directors elected were Dr. E.H. Eulner, Charles F. Perrine, Harry C. Perrine, Charles Safran, Richard C. Stephenson, and Oliver W. Welsh. The directors organized by re-electing Harry C. Perrine, president; Mrs. Chase and Charles Safran, vice presidents; R.C. Stephenson, cashier and secretary and T. Francis Perrine, assistant cashier and trust officer.
In February 1959, the directors were Edna C. Chase, Sidney Komar, T.F. Perrine, Alfred W. Schussler, Rosario J. Chuilli, Frank T. Kurzawa, Melvin H. Safran, L.R. Clayton, John E. Mullane, Ernest J. Scharpf, and Oliver W. Welsh. The officers were Oliver W. Welsh, chairman-president; Ernest J. Scharpf, executive vice president; Sara E. Deibert, vice president; Louis R. Clayton, cashier, F.H. Bloodgood, Alice A. Klimkiewicz, and Irving G. Perry, Jr., assistant cashiers. The main office was located in South Amboy with the Sayre Woods office in the Sayre Woods Shopping Center, Madison Township, New Jersey. Mr. Perry was the branch manager.
On Tuesday, January 12, 1960, The directors elected were Edna C. Chase, Rosario J. Chuilli, Sidney Komar, Frank T. Kurzawa, John E. Mullane, T. Francis Perrine, Melvin H. Safran, Ernest J. Scharpf, and Alfred W. Schussler. The officers were Ernest J. Scharpf, president; Edna C. Chase, Sara E. Deibert, vice president and cashier; F.H. Bloodgood, Alice A. Klimkiewicz, and Bertland W. Toth, assistant cashiers, and Irving Perry Jr., branch manager and assistant cashier.
- 10/20/1960 Changed Institution Name to First National Bank South Amboy-Madison Township.
- 04/08/1963 Changed Institution Name to Amboy-Madison National Bank.
- 12/01/1991 Changed Institution Name to Amboy National Bank.
- 12/01/1991 Acquired Amboy National Bank (FDIC Cert #32993) in Rocky Hill, NJ.
- 02/19/2008 Changed Institution Name to Amboy Bank under a state charter.
Official Bank Title(s)
1: The First National Bank of South Amboy, NJ
Bank Note Types Issued
A total of $1,611,090 in National Bank Notes was issued by this bank between 1888 and 1935. This consisted of a total of 207,040 notes (172,180 large size and 34,860 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 - 2290 1882 Brown Back 3x10-20 1 - 6365 1902 Red Seal 4x10 1 - 625 1902 Date Back 4x5 1 - 5680 1902 Date Back 4x10 1 - 5750 1902 Plain Back 4x5 5681 - 18176 1902 Plain Back 4x10 5751 - 15589 1929 Type 1 6x5 1 - 2792 1929 Type 1 6x10 1 - 1508 1929 Type 2 5 1 - 5976 1929 Type 2 10 1 - 3084
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1888 - 1935):
Presidents:
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- New Jersey Bank Note History
- General information on South Amboy (Wikipedia)
- General information on Middlesex County (Wikipedia)
- General information on New Jersey (Wikipedia)
Sources
- South Amboy, NJ, 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
- The Bankers' Magazine, Vol. 108, Jan. 1924-June 1924, p. 965.
- Bridgeton Pioneer, Bridgeton, NJ, Thu., Nov. 1, 1894.
- Perth Amboy Evening News, Perth Amboy, NJ, Sat., Apr. 16, 1904.
- Perth Amboy Evening News, Perth Amboy, NJ, Tue., Mar. 21, 1911.
- Perth Amboy Evening News, Perth Amboy, NJ, Mon., July 26, 1915.
- Perth Amboy Evening News, Perth Amboy, NJ, Thu., Jan. 13, 1916.
- Perth Amboy Evening News, Perth Amboy, NJ, Fri., Mar. 25, 1921.
- The Central New Jersey Home News, New Brunswick, NJ, Sun., Jan. 28, 1923.
- The Central New Jersey Home News, New Brunswick, NJ, Wed., Jan. 11, 1933.
- The Central New Jersey Home News, New Brunswick, NJ, Wed., Jan. 10, 1934.
- Courier Post, Camden, NJ, Thu., Feb. 15, 1934.
- The Central New Jersey Home News, New Brunswick, NJ, Wed., Jan. 9, 1935.
- The Central New Jersey Home News, New Brunswick, NJ, Sun., Feb. 1, 1959.
- The Central New Jersey Home News, New Brunswick, NJ, Wed., Jan. 13, 1960.