First National Bank of Neillsville, WI (Charter 9606)

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NEEDED: a contemporary postcard or photo of the bank.
NEEDED: a contemporary postcard or photo of the bank.

First National Bank of Neillsville, WI (Chartered 1909 - Receivership 1933)

Town History

Neillsville is a city in, and the county seat of Clark County, Wisconsin. The population was 2,463 at the 2010 census. It is located approximately 56 miles north of Fort McCoy and 55 miles east of Eau Claire.

The Ojibwa were the earliest known residents of the Neillsville area. The first settlers of European descent in the area were James O'Neill and his party, who arrived around 1845, looking for a location to build a sawmill along the Black River. The city was named in honor of O'Neill, as was O'Neill Creek, which runs through the center of the city and drains into the Black River.

In 1854, O’Neill's Mill, as Neillsville was originally called, was selected as the county seat of Clark County. Neillsville was platted on April 14, 1855 and incorporated in April 1882.

Neillsville had two National Banks chartered during the Bank Note Era and both of those banks issued National Bank Notes.

Bank History

  • Organized September 28, 1909
  • Chartered December 9, 1909
  • 2: Conservatorship May 1, 1933
  • 2: Receivership October 26, 1933

First National Bank of Neillsville Stock, 500 shares at $120/share, was sold to businessmen and farmers to generate $50,000 in capital and $10,000 in surplus. Charles Cornelius was president and Senator S.M. Marsh cashier. A handsome new building was planned to open on January 1, 1910.

In January 1931, George A. Ure was re-elected president and Peter M. Temby was elected vice president to succeed John P. Kintzele. The other officers were George E. Crothers, second vice president, and Fred Hohenstein, A.E. Dudley, O.W. Schoengarth, and August Dankemeyer, directors. James A. Musil was elected cashier and Carl Stange and William F. Hemp, assistant cashiers.

On May 1, 1933, the seventh district federal reserve bank announced James A. Musil was named conservator to reopen the First National Bank. On November 1, 1933, the bank was placed in the hands of a receiver by the comptroller of the currency. J. Spencer Pullen, Milwaukee banking authority, was named receiver of the bank which was closed by the state banking holiday proclamation issued by Governor Schmedeman in February 1933. Mr. Pullen stated that either a course of liquidation or of reorganization might be pursued.

A 65% dividend was paid in June 1934 and in December, a second dividend of 10% was announced. J. Spencer Pullen, receiver, was liquidating assets and was waiting on Washington to return checks to make the second payment.

Official Bank Title(s)

1: The First National Bank of Neillsville, WI

2: First National Bank of [1929], Neillsville, WI

Bank Note Types Issued

1902 Date Back $5 bank note with pen signatures of E. Witzig, Cashier and Charles Cornelius, President.
1902 Date Back $5 bank note with pen signatures of E. Witzig, Cashier and Charles Cornelius, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1929 Type 1 $5 bank note, Serial Number 1, with printed signatures of Jas. A. Musil, Cashier and George A. Ure, President. Overprinting plates were prepared by the Government Printing Office.
1929 Type 1 $5 bank note, Serial Number 1, with printed signatures of Jas. A. Musil, Cashier and George A. Ure, President. Overprinting plates were prepared by the Government Printing Office. Courtesy of Lyn Knight Auctions, www.lynknight.com
1929 Type 1 $10 bank note with printed signatures of Jas. A. Musil, Cashier and George A. Ure, President. Overprinting plates used for this note were prepared by Barnhart Brothers & Spindler (BBS).
1929 Type 1 $10 bank note with printed signatures of Jas. A. Musil, Cashier and George A. Ure, President. Overprinting plates used for this note were prepared by Barnhart Brothers & Spindler (BBS). Courtesy of Lyn Knight Auctions, www.lynknight.com

A total of $665,870 in National Bank Notes was issued by this bank between 1909 and 1933. This consisted of a total of 83,290 notes (69,100 large size and 14,190 small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type Sheet/Denoms Serial#s Sheet Comments
1: 1902 Date Back 4x5 1 - 3100
1: 1902 DB/PB 4x5 3101 - 3300 Type uncertain
1: 1902 Plain Back 4x5 3301 - 10235
1: 1902 Date Back 3x10-20 1 - 2380
1: 1902 DB/PB 3x10-20 2381 - 2540 Type uncertain
1: 1902 Plain Back 3x10-20 2541 - 7040
2: 1929 Type 1 6x5 1 - 1455
2: 1929 Type 1 6x10 1 - 728
2: 1929 Type 1 6x20 1 - 182

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1909 - 1933):

Presidents:

Cashiers:

Other Bank Note Signers

  • There are currently no known Vice President or Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

  • Neillsville, WI, Wikipedia, https://en.wikipedia.org/wiki/Neillsville,_Wisconsin
  • 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 Dunn County News, Menomonie, WI, Thu., Nov. 4, 1909.
  • Marshfield News-Herald, Marshfield, WI, Mon., Feb. 2, 1931.
  • Marshfield News-Herald, Marshfield, WI, Wed., May 3, 1933.
  • Marshfield News-Herald, Marshfield, WI, Wed., Nov. 1, 1933.
  • Marshfield News-Herald, Marshfield, WI, Tue., Dec. 24, 1935.