First National Bank, Tipton, IN (Charter 6251)
First National Bank, Tipton, IN (Chartered 1902 - Liquidated 1927)
Town History
Tipton is a city in and the county seat of Tipton County, Indiana. The population was recorder for the 2020 census was 5,275. In 1900 the population was 3,764, growing to 4,861 by 1930. The first white person to settle in the area now known as Tipton was Samuel King, who purchased land between 1835 and 1836. The land was still a part of Hamilton County. He resided in Rush County but visited the area frequently. Strawtown, Indiana, was the closest trading post. King decided to found a town on the land he purchased and he platted the town on April 16, 1839. The town was named Kingston. Despite efforts, King failed to sell any of the plots that he platted. A few Miami Indians resided in the area still.
In January, 1844, Tipton County was founded and a county seat needed to be created. The county seat was originally going to be located in the middle area of the county, however, Miami Indians resided on the land and they were unable to create a town there. The county commissioners put out a call for landowners to propose that the county seat be placed on their land. King offered to donate 100 acres of Kingston. On October 16, 1844, the commissioners accepted his offer.
The commissioners were in charge of also naming the new town. Commissioner John D. Smith, who used to reside in Ohio, proposed to name the town Canton, after Canton, Ohio. The commission accepted the name. After October, it was decided to plat Canton. The area had to be cleared of trees and plants, and John Criswell did the surveying for $2 a day. Sales of the plots began in November. As of March 1845, 34 lots had been sold.
In 1845, a post office was going to be established in Canton. However, this did not proceed because it was discovered that there was a town already named Canton in the state, which was founded in 1838. The town was renamed Tipton, after John Tipton, a veteran of the Battle of Tippecanoe and the War of 1812. He was also the leader of the Indiana Rangers. Tipton served as United States Senator for Indiana from 1831 until shortly before his death in 1839.
Tipton had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized May 1, 1902
- Chartered May 12, 1902
- Succeeded Tipton County Bank
- Liquidated May 5, 1927
- Absorbed by 7496 (Citizens National Bank, Tipton, IN)
Shirk & Forgy organized a bank on January 1, 1876. It soon passed into the hands of the Shirks, Mr. George B. Forgy selling out to them. E.H. Shirk, Sr., became the president and E.W. Shirk, the cashier. At this time it was known as the Tipton County Bank and remained so until after the death of E.H. Shirk, Jr., in 1901. E.H. Shirk was its cashier until his death and W.H. Marker was assistant cashier. Upon the death of Mr. Shirk, W.H. Marker assumed the position of cashier and his brother, Noah R. Marker, was made assistant cashier. In 1902 the Tipton County Bank was converted into the First National Bank.[3]
On Sunday, August 9, 1891, Harry Myers, a young man of irreproachable character and the assistant cashier of the Tipton County Bank for a number of years, died of consumption. The Tipton County Bank was a branch of the First National at Peru.[4]
The First National Bank of Tipton was organized in May 1902 with a capital stock of $100,000. By January 1904, the capital remained $100,000 with deposits of $875,000, loans and discounts $800,000, making it the largest and strongest bank in the Congressional district. It was the oldest bank in Tipton County and pursued the same policy long ago adopted by the Tipton County Bank. The officers were E.W. Shirk, president; Mrs. Nannie R. Shirk, vice president; W.H. Marker, cashier; and these three officers and Joseph H. Shirk and R.A. Edwards composed the board of directors. When the First National Bank was organized, it succeeded the Tipton County Bank which was started in 1876 by Elbert W. Shirk and George B. Forgy. In 1878, Elbert H. Shirk took charge of the bank as cashier and active manager until his death on April 12, 1901. Elbert H. Shirk came to Tipton in 1878 and until his death was prominently identified with all of Tipton and Tipton County's interests. Mrs. Nannie R. Shirk, vice president, widow of the former head of the bank was the largest property holder and taxpayer in Tipton County. She owned a beautiful home on Main street and was a liberal donor to worthy charities, recently giving $5,000 to the Tipton Public Library. W.H. Marker, the cashier and active manager of the bank had been connected with the institution for 14 years, starting as a young boy and by close attention to business and by good judgement, gained the position of cashier. He was a member of the American Bankers' and Indiana State bankers' Associations had served as vice president of the latter association. Mr. Marker was a native of Kentucky, but came to Tipton County as a small boy. He owned a handsome home on Independence Street. N.R. Marker filled the office of teller and had been with the bank for 12 years. R.C. Ballard, assistant teller and general bookkeeper; Miss Clara Jones, individual bookkeeper and Miss Katherine Culler, collection clerk and stenographer; rounded out the staff. The First National Bank occupied a handsome, modern, stone building on East Jefferson Street and the banking room was remodeled in the fall. Mosaic tile floor was laid and ground plate glass and bronzed copper fixtures with marble bases installed and new Mahogany desks added. It had a fire-proof steel vault and improved Corliss safe. The room was lighted with electricity and heated with a hot water plant.[5]
The Report of Condition as of the close of business on June 23, 1909, showed total resources of 1,070,475.65, with capital $100,000, surplus and undivided profits $24,704.03, circulation $100,000, and deposits of over $830,000. W.H. Marker was cashier and the directors attesting to the correctness of the report were N.R. Shirk, Joseph H. Shirk, and E.W. Shirk.[6] At 11 o'clock, Monday July 26, 1909, a placard in the window of the First National Bank stated, "N.R. Marker, assistant cashier of the bank has absconded taking with him all of the cash. The treasury department at Washington has been notified by telegraph and this bank will remain closed pending instruction from the department. Deposits that have been made today will be returned to the depositors if they call at the Shortle store. The news spread over the city like wide fire. N.R. Marker was charged with absconding with about $50,000 in currency and it was thought the books would show he owed the bank about $25,000. During the past week, E.W. Shirk, president, assisted by Joseph Shirk, director, had been busily engaged investigating the affairs of the bank. Marker left a note behind addressed to his brother, W.H. Marker, stating that he realized the position he was in and decided to go at once and not be present to take the charges that were sure to come. He then set the time lock on the safe to open at 7 o'clock Monday and bid adieu to Tipton, leaving no clue as to where he might have gone.[7] The morning of Friday, July 30th, N.R. Marker returned home. He boarded the interurban in Indianapolis and was not recognized. Conductor Briles was not sure so he asked Mr. Marker his name. He left the car at the Independence Street crossing and went directly to his home. It was Mr. Marker's 35th birthday.[8] On July 31st, Marker was taken before United States Commissioner Ellis and pleaded not guilty. After waiving examination, he was bound over with a bond of $10,000 to appear before the federal grand jury at Indianapolis which would next meet in October.[9] On Saturday, August 14, 1909, the stockholders of the First National Bank met and arranged to open the bank for business on Monday. Secret Service Men would guard $600,000 that would arrive in time for business on Monday. National bank examiner Weir advised the opening be put off since Saturday would be a bad business day with a large crowd in town that might interfere with the bank's opening. The total shortage in the bank was less than $200,000 of which $105,000 was traceable to Noah R. Marker's defalcations.[10] The bank opened with George Shortle, Jr., as cashier. The fact that Mr. Shortle accepted the position of cashier would not bring any particular change in his big merchandising concern in Tipton. For some time Mr. Shortle had been paving the way to relieve himself from incessant work at the store. Sam Shortle would be at the helm with Omer Legg in charge of many of the important details. Cashier Shortle would continue as president of the store. Mrs. E.H. Shirk was receiving many high compliments as there was the feeling that it was due to her persistent desire and efforts that the bank was able to reorganize. Early in the trouble Mrs. Shirk took this stand. Her chief desire was that troubles be arranged as speedily as possible and that no depositor lose a single penny. She was the mother-in-law of George Shortle, Jr.[11]
In March 1910, William H. Marker was found guilty by a jury on each of the 85 counts of an indictment charging him with embezzling $100,000, making false entries and misapplication of the funds of the bank. Noah R. Marker, indicted jointly with his brother, would plead guilty according to his attorney. They would be sentenced together to the federal prison at Leavenworth, Kansas, by Judge A.B. Anderson in the united States District Court.[12] W.H. Marker received 10 years and Noah R. Marker seven years and after a visit with their parents, United States Marshals Martin and Boyd left for Leavenworth with the prisoners.[13]
On Tuesday, January 6, 1914, J.E. Hawkins of Liberty Township was elected president of the First National Bank and William A. Phares was elected vice president. John R. Nash was re-elected cashier and H.S. Matthews, assistant cashier. The board of directors were Jacob Doversberger, Byron Grishaw, O.P. Campbell, M. Hass, together with the first three named officers. O.P. Campbell had been the president for two and a half years, however, Mr. Campbell had so much other business to occupy his time he did not seek re-election. Mr. Phares was a new member of the official force. The capital stock was $100,000 and the surplus $20,000.[14]
On Friday, March 25, 1927, the First National Bank of Tipton suspended business and the assets were taken over by the Citizens National Bank. The transfer of accounts and funds was made Thursday night under the supervision of Alfred Leyburn, national bank examiner, who was in charge of the First National Bank for a while. The First National Bank had experienced some difficulty in the period of reconstruction following the world war and recently the stockholders considered the alternatives of an assessment against the stock to continue business or disposing of the business, the latter plan being adopted. Voluntary liquidation would follow and a small assessment against the stockholders was thought necessary. With this deal, the Citizens National Bank's deposits were increased by $425,000 and totaled approximately $1,500,000. The officers of the bank were Jonas E. Hawkins, retired farmer, president; O.P. Campbell, member of the firm of Fear-Campbell Poultry Co. of Frankfort and Tipton, vice president; and John R. Nash, retired farmer and member of the state board of agriculture, cashier. The board of directors was composed of Hawkins, Campbell, and James C. Groves. Depositors were now protected by the Citizens National Bank, a bank amply fortified in resources with commodious new quarters and adequate personnel to care for an manage the added deposits.[15]
In April 1929, all records, insurance policies, and other valuable papers kept in the First National Insurance Agency were moved from the Martz building to the new quarters in the old First National Bank building.[16]
Early on January 12, 1940, the First National Bank building was damaged to the extent of about $1,500 when a truck of the Husman & Roper Freight Lines of St. Louis crashed into it.[17]
In June 1955, the Farmers Loan & Trust Company announced it would remodel completely the building at 110 East Jefferson Street it had occupied for almost half a century and at the same time moved into temporary quarters in the old First National Bank Building at 128 East Jefferson Street, just a few doors down. The Farmers Loan and Trust Co. originally incorporated October 6, 1906, and opened for business December 29, 1906. The bank first occupied a room which had been vacated by the old Union Bank owned by Picken brothers. In 1909, the Farmers Loan bought its present site, a historic spot insofar as Tipton banking was concerned because it was the location of the city's first bank owned by the Vickery's. In addition to banking, it had conducted an insurance department from the beginning and it featured the settlement of estates. While it was not required by law to do so, it was the first Trust company in Indiana to join the Federal Reserve System.[18]
In June 1961, William H. Marker, formerly of Tipton County, died in Inglewood, California. Born June 25, 1872, in Owen County, Kentucky, he was the son of Alex and Eliza Ann Marker. He moved to Windfall at the age of eight with his parents and had worked as a telegrapher for the Pennsylvania Railroad before accepting a position in the Tipton County Bank. Later when the bank reorganized as the First National Bank of Tipton, he was one of the incorporators, a stockholder and cashier. He joined his brother, Noah R. Marker, who was paroled from the prison at Leavenworth, in Los Angeles, California where he was engaged in business.[19] William Marker was a representative of an English steamship line in exporting and importing, remaining in the business until 1946 when he became engaged in the manufacture of farm and ranch equipment. Raised as a Master Mason in 1896 in Austin Lodge No. 128 at Tipton, he served as worshipful master eight years beginning in 1898. In 1904 he was appointed junior grand deacon. He was elected grand master at the annual meeting of the grand lodge in 1909 when the temple at Illinois and North Streets was dedicated.[20]
Official Bank Title
1: The First National Bank of Tipton, IN
Bank Note Types Issued
A total of $1,376,900 in National Bank Notes was issued by this bank between 1902 and 1927. This consisted of a total of 170,476 notes (170,476 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 1902 Red Seal 4x5 1 - 5500 1902 Red Seal 3x10-20 1 - 3900 1902 Date Back 4x5 1 - 6750 1902 Date Back 3x10-20 1 - 4800 1902 Plain Back 4x5 6751 - 19635 1902 Plain Back 3x10-20 4801 - 13584
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1902 - 1927):
Presidents:
Cashiers:
- William H. Marker, 1902-1908
- George Michael Shortle, Jr., 1909-1911
- Glen Osborne Huron, 1911-1913
- John Richard Nash, 1914-1927
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Tipton, IN, 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
- ↑ The Tipton Daily Tribune, Tipton, IN, Sat., May 22, 1909.
- ↑ The Tipton Daily Tribune, Tipton, IN, Sat., Jan. 4, 1913.
- ↑ The Tipton Daily Tribune, Tipton, IN, Mon., July 26, 1909.
- ↑ Logansport Reporter, Logansport, IN, Mon., Aug. 10, 1891.
- ↑ Tipton Weekly Times, Tipton, IN, Fri., Jan. 29, 1904.
- ↑ The Tipton Daily Tribune, Tipton, IN, Fri., June 25, 1909.
- ↑ The Tipton Daily Tribune, Tipton, IN, Mon., July 26, 1909.
- ↑ The Tipton Daily Tribune, Tipton, IN, Fri., July 30, 1909.
- ↑ The Tipton Daily Tribune, Tipton, IN, Sat., July 31, 1909.
- ↑ The Tipton Daily Tribune, Tipton, IN, Sat., Aug. 14, 1909.
- ↑ The Tipton Daily Tribune, Tipton, IN, Sat., Aug. 14, 1909.
- ↑ Brazil Daily Times, Brazil, IN, Mon., Mar. 28, 1910.
- ↑ The Star Press, Muncie, IN, Wed., Mar. 30, 1910.
- ↑ The Tipton Daily Tribune, Tipton, IN, Sat., Jan. 17, 1914.
- ↑ The Noblesville Ledger, Noblesville, IN, Sat., Mar. 26, 1927.
- ↑ The Tipton Daily Tribune, Tipton, IN, Mon., Apr. 8, 1929.
- ↑ The Tipton Daily Tribune, Tipton, IN, Sat., Jan. 13, 1940.
- ↑ The Tipton Daily Tribune, Tipton, IN, Tue., June 28, 1955.
- ↑ The Star Press., Muncie, IN, Thu., Mar. 19, 1914.
- ↑ The Tipton Daily Tribune, Tipton, IN, Sat., July 8, 1961.