First National Bank of Conneautville, PA (Charter 143)

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Map showing Conneautville, Pennsylvania
Map showing Conneautville, Pennsylvania, and Conneaut, Ohio, location of the mouth of Conneaut Creek on Lake Erie. Courtesy of Google Maps

First National Bank of Conneautville, PA (Chartered 1863 - Liquidated 1903)

Town History

Conneautville is a borough in Crawford County, Pennsylvania, situated along Conneaut Creek. The population was 736 at the 2020 census. In 1860 the population was 964, fluctuating over the decades until it was 969 in 1920.

Conneautville was founded in 1814 by Alexander Power, a surveyor and engineer. Conneautville was first called "Powerstown" or made reference to as "Power's Tract". Power wanted it called "Conneautville" after the Seneca name Conneaut or Conneautee, meaning "Snow Place" according to one interpretation. It is located in northwestern Crawford County in the valley of Conneaut Creek, which flows north and west to Lake Erie. Pennsylvania Route 18 passes through the center of the borough, leading north 10 miles to Albion and south 11 miles to Conneaut Lake.

Conneautville had three National Banks chartered during the Bank Note Era, The First National Bank of Conneautville (Charter 143), The First National Bank in Conneautville (Ch12189), and The Farmers National Bank (Charter 13942), and all three of those banks issued National Bank Notes.

Bank History

  • Chartered December 7, 1863
  • Liquidated February 24, 1903
  • Succeeded by Bank of Conneautville

On Thursday, July 26, 1866, directors of the First National Bank unanimously elected A.L. Power, Esq., president of the bank to fill the vacancy occasioned by the resignation of Judge Patton (since deceased). This action was entirely unsolicited as Mr. Power was absent in the West.[1]

On Tuesday, January 14, 1868, stockholders re-elected the old board as follows: Wm. Power, A.P. Foster, O.O. Ticknor, Howell Powell, W.S. Crozier, A.A. Hollembeak, G.B. McDonnell, W.L. Robinson, and A.L. Power. The board subsequently re-elected A.L. Power, president; and D.D. Williams, cashier.[2]

A special dispatch from Conneautville told of a most daring and extensive robbery of the First National Bank. While the cashier, D.D. Williams, was writing at his desk, he heard a rap at the side door. Upon opening the door two masked men sprang upon him, bound and gagged him, and succeeded in making their escape with $14,000 in currency and $30,000 in United States bonds. Mr. Williams was found in the morning in an unconscious state, but recovered consciousness a couple of hours after being released.[3] Mr. Williams had represented Crawford County in the house of representatives of Pennsylvania in 1871. The bank occupied the corner room of Powers' Block, with the discount and deposit office in front and a room for meetings of the directors in the rear. Mr. W.E. Roberts discovered Mr. Williams gagged and bound and everything in disorder on opening the bank. A reward of $2,500 was offered for the robbers and recovery of the stolen cash and bonds.[4] On April 3, 1874, D.D. Williams was arrested after a recent investigation of the bank's books showed a defalcation of $27,000 in addition to the reported robbery of $47,000 which caused suspicion of the guilt of Williams.[5] 

The case of D.D. Williams was tried in U.S. District Court at Pittsburgh for misapplying the funds of the bank and complicity in the robbery of the same. The best legal talent was secured and every effort made to clear Williams of the charges, but on Monday, November 16th, the Jury brought in a verdict of guilty on the first count of the indictment and he was remanded to jail to await sentence. Mr. Williams held the position of cashier of the bank from the time it was organized until he was arrested in February, and was always looked upon as an honorable, straight forward businessman. He was so popular that in 1870 he, although a Democrat, was elected a Member of Assemble in the strong Republican County of Crawford. But he lived beyond his means and according to the evidence used the funds of the bank for his own private expenses.[6] At sentencing, the judge said the case was a very sad one, but the evidence was very clear against the prisoner. He said as there was no evidence connecting the prisoner with the robbery, but only the embezzlement, he would impose the minimum sentence allowed by law. He then pronounced the penalty, that Williams be imprisoned in the Western Penitentiary for five years. Williams took the sentence with the same coolness that characterized him during the trial.[7]

In October 1877, the vacancy on the board of directors occasioned by the death of A.A. Hollembeak was filled by the appointment of his son, Mr. T.A. Hollembeak of Springboro.[8] In May 1878, the directors were W.B. Powell, Wm. Power, P.B. Carpenter, J.C. Sturtevant, T.A. Hallembeak, E.L. Litchfield, A.P. Foster, Robert Wormald, and G.B. McDonald. The officers were J.C. Sturtevant, president; A.P. Foster, vice president; and F.R. Nichols, cashier. The bank had capital of $100,000.[9]

In May 1889, the vacancy caused by the resignation of F.R. Nichols as cashier of the First National Bank was filled by the election of J.C. Sturtevant who resigned the presidency to accept the position. A.P. Foster, vice president, was elected president and E.L. Litchfield, vice president.[10]

On Tuesday night, July 16, 1889, Mr. Alexander P. Foster, President of the First National Bank of Conneautville, and one of the oldest and best-known citizens of Conneautville, died, having been lying at death's door since Thursday evening. Mr. Foster was born in Conneautville, January 21st, 1821, and always resided here. When a mere boy he commenced his active business life as a clerk in the store of his uncle, the late William Power, which position he held for nearly a score of years. About 1859 he engaged in the mercantile business for himself, which he carried on successfully until compelled by failing health to retire about 1883, and was apparently holding his own until the death of his son in March last, which proved a severe shock from which he failed to rally. He was chosen a Director in the First National Bank at its first election and had filled the position continuously up to this time. He also filled the position of Vice President for years and was its President at the time of his death.[11]

On Tuesday, January 14, 1890, stockholders met and re-elected the following board of directors: W.G. Powell, O.O. Ticknor, W.B. Powell, E.T. Montague, T.A. Hollembeak, E.L. Litchfield, J.C. Sturtevant, Amos Sperry, and A.J. Harper. The directors afterwards elected T.A. Hollembeak, president; E.T. Montague, vice president; and J.C. Sturtevant, cashier.[12]

On Tuesday, January 9, 1900, stockholders elected the following board of directors for the ensuing year: J.C. Sturtevant, Sarah E. Wormald, M. Fitzgerald, Amos Sperry, J.T. Snodgrass, W.B. Powell, W.G. Powell, W.A. Rupert, and P.C. Sheehan. Afterwards the directors re-elected J.C. Sturtevant, president; M. Fitzgerald, vice president; J.T. Snodgrass, cashier; and Fred S. Fish, bookkeeper.[13]

The First National bank was broken into between 2 and 3 o'clock, the morning of June 20, 1900, by six men, who, after completing their work escaped with a team of horses and vehicle stolen from Eugene Brown's livery stable. They garnered entrance to the bank through the rear window and succeeded in forcing the outer doors of the vault, and attempted to force the inner doors of the cash vault, tearing off the combination. The outer doors were blown open and the robbers attempted to do the came with the inner doors, using a drill, but evidently found the steel too hard or were pressed for time and tried to hurry matters by knocking the combination to pieces. Dr. A.L. Dennis, returning home late from a professional call, stepped to the pump at the rear of the bank about 2 o'clock to wash his hands when he was overpowered, bound and gagged and carried to a barn. A tramp who happened to be in that vicinity was treated in a similar manner by the robbers and the two were tied up in a barn. The tramp succeeded in getting free first and liberated the doctor, who immediately gave the alarm, but the burglars had fled. William Forker, the locksmith of Meadville, was sent for to open the inner vault. Later, Fred B. Fish, the bank teller, found the combination and succeeded in opening the inner vault. The crowd about the bank at this time was immense and a sigh of relief went up when Mr. Fish announced that not a cent, had been taken. The robbers were traced towards Palmer and a posse of citizens were scouring the country for them. It was believed that they made direct for Pierpont, Ohio.[14] Two horses and a carriage were found missing from the barn of R. Brown and one horse and buggy from the barn of I. Dietter. Dr. Dennis was able to give just a meagre description of the men as they all wore masks.[15] The three horses and two buggies were recovered the next day abandoned in a big woods five miles south of Conneaut, Ohio. The First National Bank offered a $250 reward for capture of the gang or $100 for capture of one of them. The town council of Conneautville also offered a $250 reward.[16]

Advertisement from March 1903
Advertisement from March 1903 for the Bank of Conneautville.[17]

On February 24, 1903, the charter of the First National Bank of Conneautville expired by limitation. The directors were J.C. Sturtevant, M. Fitzgerald, W.G. Powell, J.T. Snodgrass, Sarah E. Wormald, Patrick C. Sheehan, W.B. Powell, and Paul Sturtevant. The officers were J.C. Sturtevant, president; M. Fitzgerald, vice president; and J.T. Snodgrass, cashier.[18] The First National Bank was succeeded by the Bank of Conneautville with the same officers and directors, located in the First National Bank building.

Official Bank Title

1: The First National Bank of Conneautville, PA

Bank Note Types Issued

Original Series $2 bank note
Original Series $2 bank note with pen signatures of J.C. Sturtevant, Cashier and John Wormald, President. Courtesy of Heritage Auctions, www.ha.com

A total of $408,145 in National Bank Notes was issued by this bank between 1863 and 1903. This consisted of a total of 60,344 notes (60,344 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
Original Series 3x1-2 1 - 2659
Original Series 4x5 1 - 4650
Original Series 3x10-20 1 - 1788
Series 1875 4x5 1 - 2900 ABCD plate with Allison | New signatures; EFGH plate approved Aug. 4, 1881, with Bruce | Gilfillan signatures
Series 1875 3x10-20 1 - 1080 ABCA plate with Allison | New signatures and Variety 1 Battle of Lexington vignette
1882 Brown Back 3x10-20 1 - 2009 ABCA plate approved Jan. 23, 1883, with Bruce | Gilfillan signatures and Variety 2 Battle of Lexington vignette

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1863 - 1903):

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

  • Conneautville, PA, 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
  1. ↑ The Pittsburgh Commercial, Pittsburgh, PA, Sat., Aug. 4, 1866.
  2. ↑ The Pittsburgh Commercial, Pittsburgh, PA, Mon., Jan. 20, 1868.
  3. ↑ Daily Local News, West Chester, PA, Tue., Feb. 3, 1874.
  4. ↑ Clearfield Republican, Clearfield, PA, Wed., Feb. 18, 1874.
  5. ↑ The Philadelphia Inquirer, Philadelphia, PA, Sat., Apr. 4, 1874.
  6. ↑ The Forest Republican, Tionesta, PA, Wed., Nov. 18, 1874.
  7. ↑ The Pittsburgh Post, Pittsburgh, PA, Sat., Nov. 28, 1874.
  8. ↑ The Conneautville Courier, Conneautville, PA, Thu., Oct. 4, 1877.
  9. ↑ The Conneautville Courier, Conneautville, PA, Thu., May 16, 1878.
  10. ↑ The Conneautville Courier, Conneautville, PA, Wed., May 15, 1929.
  11. ↑ The Conneautville Courier, Conneautville, PA, Thu., July 18, 1889.
  12. ↑ The Conneautville Courier, Conneautville, PA, Thu., Jan. 16, 1890.
  13. ↑ The Conneautville Courier, Conneautville, PA, Thu., Jan. 11, 1900.
  14. ↑ The Evening Republican, Meadville, PA, Wed., June 20, 1900.
  15. ↑ The Pittsburgh Post, Pittsburgh, PA, Thu., June 21, 1900.
  16. ↑ The Pittsburgh Post, Pittsburgh, PA, Fri., June 22, 1900.
  17. ↑ The Conneautville Courier, Conneautville, PA, Wed., Mar. 4, 1903.
  18. ↑ The Conneautville Courier, Conneautville, PA, Wed., Mar. 4, 1903.
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