First National Bank of Amboy, IL (Charter 5223)
First National Bank of Amboy, IL (Chartered 1899 - Liquidated 1934)
Town History
Amboy is a city in Lee County, Illinois, along the Green River. The population was 2,500 at the 2010 census. The chain of Carson Pirie Scott & Co. began in Amboy when Samuel Carson opened his first dry goods store there and in LaSalle in 1854.
Amboy had its start in the 1850s when the Illinois Central Railroad was extended to that point. The Illinois Central facility in Amboy served as the railroad's division headquarters. The building was saved from demolition and is a museum. The actual railroad and train yard were abandoned and removed in the early 1990's.
Amboy was the site of an ammunition factory for World War II - The Green River Ordnance Plant. It was roughly bordered by Sterling Road to the south, Bataan Road to the East, and Bataan Road to the North and West of the facility. The facility was completed on Dec. 15, 1942 and used until VJ day in August 1945 and at one time employed 4,500 people.
Amboy had two National Banks chartered during the Bank Note Era, and one of those banks issued National Bank Notes.
Bank History
- Organized October 11, 1899
- Chartered October 13, 1899
- Succeeded Bank of Josiah Little
- Conservatorship March 22, 1933
- Liquidated October 2, 1934
- Succeeded by 14244 (First National Bank in (No Issue), Amboy, IL)
The Comptroller of the Currency, Dawes, granted authority to organize the First National Bank of Amboy, Illinois with capital stock of $50,000. The new institution succeeded the banking house of Josiah Little which was established in 1868. For many years this was the only bank in Amboy, controlling a business which extended to all parts of Lee County. The officers were Josiah Little, president; Lemuel Bourne, vice president, and Fred N. Vaughan, cashier. Mr. Little had been in the banking business for 32 years and his reputation was second to none in the state. The First National Bank opened on November 1, 1899.
In January 1903, the directors and officers were Josiah Little, president, Lemuel Bourne, vice president, Fred N. Vaughan, cashier; Harry H. Badger, assistant cashier. Directors were W. Green, Isaac N. Perry, T.P. Phillips, Frank B. Little. Isaac N. Perry was president of the National Bank of North America and T.P. Phillips was president of the Federal Trust and Savings Bank, both in Chicago.
In July 1919, the directors of the First National Bank of Amboy at their regular meeting unanimously voted to proceed with plans for the erection of a modern new bank building to occupy the site of the present building and that occupied by the Canavan dry goods store and Jane McGrawn Store. Construction was expected to begin early next spring.
In December 1920, the W.J. Zitterell Construction Co. of Webster City, Iowa began razing the old Canavan store building just west of the First National Bank. The workmen had torn away the rear of the store and the excavation to accommodate the big safe was almost complete. The Zitterell Co. built the Illinois Central facilities in Amboy yards a few years earlier.
In December 1921, the Lee County Bankers' Association held a successful meeting and banquet at Amboy in the new building of the First National Bank. Considering the weather the meeting was largely attended and every bank in the county was represented with the exception of two. The banquet was held in the lobby and corridors of the new bank and was served by the wives and relatives of Amboy bankers. The affair was given principally as an opening introduction to the new and beautiful bank.
The stockholders held their annual meeting Tuesday, January 10, 1922 in the parlors of the new bank building and elected the following directors: F.N. Vaughan, Philip Clark, H.H. Badger, L.L. Brink, W.B. Vaughan, W.A. Green, A. Aschenbrenner, E.A. Sullivan, W.F. Graves, P.M. James, and B.F. Lane. The directors elected officers as follows: F.N. Vaughan, President; Philip Clark, vice president; H.H. Badger, cashier; L.L. Brink and W. B. Vaughan, assistant cashiers.
Cashier H.H. Badger of the First National Bank of Amboy was appointed conservator of the bank. In December 1933, the reorganization plan was approved with frozen deposits of $626,000 and unrestricted deposits of $76,000.
Official Bank Title(s)
1: The First National Bank of Amboy, IL
Bank Note Types Issued
A total of $1,165,510 in National Bank Notes was issued by this bank between 1899 and 1934. This consisted of a total of 145,034 notes (139,112 large size and 5,922 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 - 4050 1882 Brown Back 3x10-20 1 - 3420 1882 Date Back 4x5 1 - 4250 1882 Date Back 3x10-20 1 - 3100 1882 Value Back 4x5 4251 - 7700 1882 Value Back 3x10-20 3101 - 4800 1902 Plain Back 4x5 1 - 8808 1902 Plain Back 3x10-20 1 - 6000 1929 Type 1 6x5 1 - 647 1929 Type 1 6x10 1 - 281 1929 Type 1 6x20 1 - 59
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1899 - 1934):
Presidents:
Cashiers:
Other Bank Note Signers
- Lemuel Bourne, Vice President 1899...1905
- There are currently no known Assistant Cashier bank note signers for this bank.
Wiki Links
- Illinois Bank Note History
- General information on Amboy (Wikipedia)
- General information on Lee County (Wikipedia)
- General information on Illinois (Wikipedia)
Sources
- Amboy, IL, 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
- Dixon Evening Telegraph, Dixon, IL, Sat., Oct. 14, 1899.
- Dixon Evening Telegraph, Dixon, IL, Fri., Jan. 30, 1903.
- The Ashton Gazette, Ashton, IL, Thu., July 17, 1919.
- Dixon Evening Telegraph, Dixon, IL, Fri., Dec. 3, 1920.
- Dixon Evening Telegraph, Dixon, IL, Sat., Dec. 24, 1921.
- Dixon Evening Telegraph, Dixon, IL, Fri. Jan. 13, 1922.
- Freeport Journal-Standard, Freeport, IL, Fri., Dec. 22, 1933.
- Amboy Centennial: August 6-8 1954, official souvenir program.