Fort Stanwix National Bank, Rome, NY (Charter 1410)
Fort Stanwix National Bank, Rome, NY (Chartered 1865 - Receivership 1896)
Town History
Rome is a city in Oneida County, New York, located in the central part of the state. Rome is one of two principal cities in the Utica–Rome Metropolitan Statistical Area, which lies in the "Leatherstocking Country" made famous by James Fenimore Cooper's Leatherstocking Tales, set in frontier days before the American Revolutionary War. The population was 32,127 at the 2020 census. In 1860 the population was 3,584, growing to 15,343 by 1900.
The city developed at an ancient portage site of Native Americans, including the historic Iroquois nations. This portage continued to be strategically important to Europeans, who also used the main 18th and 19th-century waterways, based on the Mohawk and Hudson rivers, that connected New York City and the Atlantic seaboard to the Great Lakes. The original European settlements developed around fortifications erected in the 1750s to defend the waterway, in particular the British Fort Stanwix (1763) built in New York.
Fort Stanwix is historically significant because of its successful defense by American troops during an August 1777 siege. After American forces captured and rebuilt the fort during the American Revolutionary War, they were besieged by a British army that invaded from Canada via Lake Ontario, hoping to reach the Hudson River. The British force abandoned the siege, a consequence that helped lead to the defeat of a larger British army during the Saratoga campaign.
Fort Stanwix was also the site of the 1768 Treaty of Fort Stanwix between Britain and Native American tribes, as well as of the 1784 Treaty of Fort Stanwix between the tribes and the American government.
Following the American Revolution, the settlement began to grow with the construction of the Rome Canal in 1796, to connect Wood Creek (leading from Lake Ontario) and the headwaters of the Mohawk River. In the same year the state created the Town of Rome as a section of Oneida County. For a time, the small community next to the canal was informally known as Lynchville, after the original owner of the property, the prominent wine merchant Dominick Lynch.
The New York State Legislature converted the Town of Rome into a city on February 23, 1870. The residents have called Rome the City of American History.
Rome had four National Banks chartered during the Bank Note Era, and all four of those banks issued National Bank Notes.
Bank History
- Organized June 14, 1865
- Chartered July 8, 1865
- Succeeded Fort Stanwix Bank
- Receivership February 8, 1896
In November 1847, the Fort Stanwix Bank was organized in Rome, Oneida County, with a capital of $110,000.[1] Mr. Utley, former publisher of the Rome Sentinel was president.[2] David Utley, Enoch B. Armstrong and Cyrus Hayden comprised the committee authorized to receive the payments and issue certificates of stock.
In April 1850, W.W. Van Zandt, Esq., was appointed cashier of the Fort Stanwix Bank in place of W.W. Nellis, Esq., resigned. The bank's securities were wholly New York state stocks and it was one of the best banks in the state. Mr. Van Zandt had long been known as an able and efficient clerk in the bank department and in the Comptrollers office.[3]
On Tuesday, January 9, 1866, the directors were David Utley, E.B. Armstrong, Squire Utley, B.J. Beach, W.L. Howland, J.S. Whaley, Chas. Stokes, D.B. Danforth, N.H. Leffingwell, E. Walsworth, D.G. Dorrance, Samuel Wardwell, and B.N. Huntington. David Utley was subsequently re-elected president, and W.L. Howland, vice president.[4]
David Utley was born in the town of Western on February 13, 1802 and was in his 81st year at the time of his death on June 20, 1882. His father came from Dutchess County prior to 1800 and was one of the earliest settlers of the town of Western. Mr. Utley was the originator and projector of the Fort Stanwix Bank which began business in December 1847. It was located then at the corner of James and Dominick Streets. He was elected the first president of that bank hand had been re-elected every year up until the time of his death. He was also a stockholder and directors of the First National Bank of Rome for many years. He was one of the early stockholders and directors of the Rome & Watertown Railroad and was instrumental in getting the machine shops of the company located in Rome.[5]
William M. Nellis, formerly cashier of the Fort Stanwix Bank, died at Salt Lake City on November 18, 1882, of typhoid fever.[6]
On the morning of November 28, 1882, Squire Utley died at the age of 87 years. He had always resided in Western and had scarcely ever known a sick day. He was one of the earliest inhabitants and had been active in political circles. David Utley was father of Squire Utley and was the first permanent settler of the village of North Western, locating there in 1794-95, purchasing 200 acres of land. Squire Utley was elected a director of the Fort Stanwix Bank of Rome in 1851, which position he held up to the time of his death. He was also one of the original directors of the Rome Savings Bank.[7]
In December 1882, the directors were David Utley, N.H. Leffingwell, Squire Utley, B.J. Beach, James S. Whaley, Daniel G. Dorrance, H.G. Utley, H.D. Spencer, G.V. Selden, P.V. Rogers, E.A. Walsworth, Geo. Barnard, and Lawrence Gaheen. The officers were David Utley, president; H.G. Utley, vice president; and George Barnard, cashier. The bank had capital of $100,000.[8]
In April 1887, the directors were H.G. Utley, B.J. Beach, James S. Dyett, Dan'l G. Dorrance, Henry Barnard, H.D. Spencer, C.V. Selden, E.A. Walsworth, O.W. Sage, James H. Searles, Wheeler Armstrong, and Geo. Barnard. The officers were H.G. Utley, president; Harvey D. Spencer, vice president; and Geo. Barnard, cashier.[9]
On Tuesday, January 14, 1896, stockholders elected the following directors: H.G. Utley, James S. Dyett, D.G. Dorrance, W.B. Bliss, Chas. F. Barnard, H.D. Spencer, Henry Barnard, James P. Olney, Thomas H. Stryker, J.S. Haselton, A.M. Jackson, Wheeler Armstrong, George Barnard. The inspectors of the election were John F. Williams, G.W.G. Kinney, and F.L. Wagner. The directors elected the following officers: H.G. Utley, president and H.D. Spencer, vice president.[10] On January 31, 1869, George Barnard, cashier of the Fort Stanwix National Bank, was found dead at 10 o'clock in the morning in an unoccupied room on the third floor of the bank in West Dominick Street. He had committed suicide and the bank was closed pending an investigation by the bank examiners. Mr. Barnard was 65 years old. He had been connected with the Fort Stanwix bank for 40 years, working his way up from messenger boy to the position he held when he died which he had occupied for the last 15 years. H had been elected Mayor of the city on the Democratic ticket twice and represent the district on the Democratic State committee. He was one of the managers of the State Hospital for the Insane at Utica. He was survived by three sones, Charles F. Barnard, secretary and treasurer of the Rome Savings Bank; James E. and Fred Barnard, all of Rome. Forman G. Utley, president of the bank, left a few days earlier for California where he intended to spend the winter.[11]
The total liabilities including capital stock, surplus and profits as of the last report was $1,111,241. Of this total $551,702 was due to the depositors and $75,136 was in bills payable. The bank had rediscounted $50,000 worth of paper upon which it was endorser. In all about $700,000 would be required to assure successful voluntary liquidation. Comptroller Eckels would greatly prefer that the bank's officers arranged for voluntary liquidation as it would be far less expensive than a receivership and it would assure payment of depositors of their claim in full. Also, there had been more failures of national banks under his administration than ever occurred in 10 years before since the national banking system was organized. The Rome Savings Bank had its quarters in the Fort Stanwix National Bank. There was a growing feeling among financiers that state savings banks should be divorced from national banks. In the past it had been a difficult matter for state bank examiners to get national bank examiners to act in conjunction with them when anything wrong was expected. The Rome Savings Bank was in exceptionally strong shape and once moved to quarters apart from any other banking institution would prosper.[12]
J. Winslow Jones of Baltimore, member of the Maryland House of Delegates and head of the concern with $200,000 worth of paper in the Fort Stanwix Bank met President Utley and with bank examiners at the Arlington Hotel. Mr. Harvey S. Bedell was appointed to act for the Fort Stanwix Bank with the receiver of the J. Winslow Jones Packing Companies at Baltimore, Maryland, and York, Pennsylvania. The transactions of the Jones company with the bank covered a long period and would require a great deal of investigation to determine just how all the concern's paper came to get into the bank.[13]
On February 18, 1896, the comptroller of the currency appointed Daniel G. Griffin of Watertown, New York, receiver of the Fort Stanwix National Bank of Rome.[14] The bond for Mr. Griffin of $50,000 was backed by Senator Joseph Mullin, John W. Griffin, Morris Griffin, Bartholomew Griffin, Richard H. Huntington and Colonel James R. Miller. Mr. Huntington arrived in Rome on the 25th. He was associated with Receiver W.H. Kimball in 1882 in winding up the affairs of the insolvent Merchants Bank of Watertown. It took four years to settle up the affairs of the Merchants Bank, a large amount of real estate being involved. Mr. Huntington noted the coincidence of entering the Merchants Bank on February 21, 1882 and on the same date in 1896 having entered the Fort Stanwix National Bank. Mr. Huntington had known Cashier Barnard since the time the latter first went into the Fort Stanwix Bank as bookkeeper.[15] Mr. Huntington would succeed Mr. Griffin as receiver. He died on February 8, 1900, of heart failure supposed to have been induced by an injury received a week earlier when leaving the Fort Stanwix Bank at Rome. He fell and struck his head on the sidewalk cutting a gash in his forehead that extended to the bone.[16]
In March 1898, among the cases before the United States Court in Utica were ones against J. Winslow Jones and also George Louis Shaw for aiding and abetting misappropriation and abstraction of funds from the Fort Stanwix National Bank.[17]
In February 1900, Arthur L. Dale was notified by Charles G. Dawes, comptroller of the currency, of his appointment as receiver of the Fort Stanwix National Bank to succeed to late R.H. Huntington. Mr. Dale had been engaged as clerk in this connection since the first appointment of Mr. Van Vranken as temporary receiver four years ago.[18]
On December 10, 1905, Samuel Wardwell, one of the leading citizens of Rome, died at his home at 136 Turin Street. Mr. Wardwell was born November 4, 1923, in Mannsville, Jefferson County. He came to Rome in 1852 and resided there since. Mr. Wardwell was a casher for the Fort Stanwix Bank for a number of years and in 1875 together with other leading citizens organized the Bank of Rome which four years later changed its name to Farmers National Bank. Mr. Wardwell was also associated with this brother W.W. Wardwell in the hardware business.[19]
Official Bank Title
1: The Fort Stanwix National Bank of Rome, NY
Bank Note Types Issued
A total of $1,063,740 in National Bank Notes was issued by this bank between 1865 and 1896. This consisted of a total of 200,784 notes (200,784 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 - 11660 Original Series 4x5 1 - 10900 Original Series 3x10-20 1 - 2070 Series 1875 4x5 1 - 6360 Series 1875 3x10-20 1 - 1806 1882 Brown Back 4x5 1 - 13452 1882 Brown Back 3x10-20 1 - 3948
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1896):
Presidents:
Cashiers:
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Rome, NY, 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
- ↑ New-York Tribune, New York, NY, Tue., Nov. 9, 1847.
- ↑ The Cleveland Leader, Cleveland, OH, Wed., Nov. 24, 1847.
- ↑ The Buffalo Daily Republic, Buffalo, NY, Wed., Apr. 24, 1850.
- ↑ Rome Sentinel, Rome, NY, Tue., Jan. 16, 1866.
- ↑ Rome Sentinel, Rome, NY, Tue., June 27, 1882.
- ↑ Daily Sentinel, Rome, NY, Tue., Nov. 4, 1882.
- ↑ Rome Sentinel, Rome, NY, Tue., Nov. 28, 1882.
- ↑ Daily Sentinel, Rome, NY, Mon., Dec. 11, 1882.
- ↑ Daily Sentinel, Rome, NY, Fri., Apr. 1, 1887.
- ↑ Daily Sentinel, Rome, NY, Tue., Jan. 14, 1896.
- ↑ Syracuse Herald-Journal, Syracuse, NY, Fri., Jan. 31, 1896.
- ↑ Daily Sentinel, Rome, NY, Fri., Feb. 7, 1896.
- ↑ Daily Sentinel, Rome, NY, Mon., Feb. 10, 1896.
- ↑ The Buffalo Commercial, Buffalo, NY, Tue., Feb. 18, 1896.
- ↑ Daily Sentinel, Rome, NY, Tue., Feb. 25, 1896.
- ↑ The Weekly British Whig, Kingston, ON, Thu., Feb. 15, 1900.
- ↑ Daily Sentinel, Rome, NY, Sat., Mar. 12, 1898.
- ↑ Daily Sentinel, Rome, NY, Sat., Feb. 17, 1900.
- ↑ Daily Sentinel, Rome, NY, Mon., Dec. 10, 1945.