First National Bank, Stewartstown, PA (Charter 4665)
First National Bank, Stewartstown, PA (Chartered 1891 - Open past 1935)
Town History
Stewartstown is a borough in York County, Pennsylvania, located 3 miles east of Shrewbury and Interstate 83 and 2 miles north of the Maryland-Pennsylvania border. This part of southern York County was claimed by both Maryland and Pennsylvania, and the boundary dispute was settled by the surveying of the Mason–Dixon Line in 1767. The population was 2,125 at the 2020 census.
By 1777, a road had been well established between York and Baltimore, and Stewartstown's main street of today lies along a portion of the road. Around 1812, a group of farmers set out to establish a town in south central Hopewell Township. The earliest buildings were several houses, a workshop for making furniture and wheels, a store, and a tavern. Anthony Stewart, owner of the workshop, served as the village clerk, and his shop became the main meeting place.
The village was first known as Meadstown, after Benedict Meads, owner of the tavern and the store. Later it became known as Mechanicsburg because of a large number of tradesmen who lived in the community. By 1828, the town had its own post office, and Stewart was appointed the first postmaster. There was already another Pennsylvania town named Mechanicsburg, so postal officials assigned the name "Guilford" to the community. Through the efforts of Anthony Stewart, with the help of Judge Adam Ebaugh, the Post Office Department changed the town's postmark to "Stewartstown" on March 24, 1832.
The Stewartstown Engine House, Stewartstown Railroad and Stewartstown Railroad Station are listed on the National Register of Historic Places.
Stewartstown had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized Oct 31, 1891
- Chartered Dec 15, 1891
- Conservatorship Mar 23, 1933
- Licensed Jan 18, 1934
- Bank was Open past 1935
- Merged with The First National Bank and Trust Company of Red Lion, Charter 5184, in November 1958
In January 1923, stockholders re-elected the same board of directors as follows: Joseph W. Anderson, Samuel H. Smith, W.J.P. Gemmill, Thomas B. Fulton, Edward W. Lanius, Thomas C. Hunter, C.C. Slade, S.C. Edgar, James W.G. Wilson, and Aaron C. Channell. The following officers were elected: Thomas B. Fulton, president; W.J.P. Gemmill, vice president and secretary; Harry S. Fulton, cashier; Oran S. Bell, assistant cashier; and Ross Trout, bookkeeper.
On January 16, 1934, announcement was made that the First National Bank of Stewartstown, which was operating under a conservator since March 1933, would reopen for regular business on Thursday, January 17. A license for the reorganized bank was received from the comptroller of the currency at Washington. The reorganized bank had capital stock of $50,000, with a $25,000 surplus. Deposits up to $2,500 would be insured under the Federal Deposit Insurance plan. All requirements contained in the plan approved by the government were met. Waivers of 35% of deposits were secured from more than 75% of the depositors, as set forth in the plan. One thousand shares of stock with a par value of $50, were sold. The new bank paid off all money borrowed from the Federal Reserve bank and started business with no old debts outstanding. The opening of the bank was the culmination of months of tireless effort on the part of the reorganization committee which worked here and at Washington until a sound, government-approved structure was assured.
In January 1937, stockholders elected directors as follows: R.F. Evans, Melvin F. Brose, J.O. Fitzpatrick, Walter G. Fulton, Everett J. Gemmill, Walter T. Gibbs, and Fenjamin F.W. McClung. The directors reorganized by electing the following officers: Walter G. Fulton, president; Thomas E. Steffey, vice president; Benjamin F.W. McClung, vice president; and Oram S. Bell, cashier.
In January 1948, the directors re-elected Walter G. Fulton, president; B.F. W. McClung, vice president; Oram S. Bell, cashier and secretary; G. Frank McConnell, assistant cashier; and Miss Beulah A. Runkel, stenographer and bookkeeper. The directors were Fulton, McClung, Ralph S. Evans, Everett J. Gemmill, Russell C. Shaw, Melvin Brose and Gibbs.
In January 1958, stockholders elected Harold N. Wiley of White Hall, MD, a new director to fill a vacancy caused by the death several years ago of Ralph S. Evans. Other directors re-elected were Melvin Brose, Everett J. Gemmill, Walter T. Gibbs, Russell C. Shaw, Oram S. Bell, and G. Frank McConnell. The officers re=elected were Oram S. Bell, president; Everett J. Gemmill, vice president; and G. Frank McConnell, cashier and secretary.
On September 23, 1958, the boards of the First National Bank and Trust Co., Red Lion, and The First National Bank, Stewartstown, approved plans for consolidation. The latter would be a branch of the former. At the close of business on September 24, The First National Bank reported total assets of $1,855,378.58 with capital stock of $50,000, Surplus of $150,000, and undivided profits of $39,942.93.
On November 3, merged operations were begun by the old First National Bank of Stewartstown. The First National Bank and Trust Company of Red Lion with Paul S. Raub, president, already operated a branch bank at 2055 South Queen Street, York. The merged bank had assets of over $17.5 million. Approval of the merger by the comptroller of the currency came late in October 1958.
Official Bank Title(s)
1: The First National Bank of Stewartstown, PA
Bank Note Types Issued
A total of $1,088,370 in National Bank Notes was issued by this bank between 1891 and 1935. This consisted of a total of 104,145 notes (90,268 large size and 13,877 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 - 5325 1882 Brown Back 3x10-20 1 - 2980 1882 Date Back 4x5 1 - 1537 1882 Date Back 3x10-20 1 - 1243 1902 Date Back 3x10-20 1 - 2700 1902 Plain Back 3x10-20 2701 - 11482 1929 Type 1 6x10 1 - 1574 1929 Type 1 6x20 1 - 380 1929 Type 2 10 1 - 1722 1929 Type 2 20 1 - 431
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1891 - 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
- Pennsylvania Bank Note History
- General information on Stewartstown (Wikipedia)
- General information on York County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Stewartstown, PA, Wikipedia, https://en.wikipedia.org/wiki/Stewartstown,_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
- York Daily Record, York, PA, Wed., Jan. 10, 1923.
- The Gazette and Daily, York, PA, Wed., Jan. 17, 1934.
- The York Dispatch, York, PA, Tue., Jan. 12, 1937.
- York Daily Record, York, PA, Wed., Jan. 14, 1948.
- The Gazette and Daily, York, PA, Wed., Jan. 15, 1958.
- The Gettysburg Times, Gettysburg, PA, Wed., Sep. 24, 1958.
- The Gazette and Daily, York, PA, Tue., Nov. 4, 1958.