Fulton National Bank, Lancaster, PA (Charter 2634)
Fulton National Bank, Lancaster, PA (Chartered 1882 - Open past 1935)
Town History
Lancaster is a city in and the county seat of Lancaster County, Pennsylvania, and one of the oldest inland cities in the United States. With a population at the 2020 census of 58,039, it ranks 11th in population among Pennsylvania's municipalities. The Lancaster metropolitan area population is 552,984, making it the 104th-largest metropolitan area in the U.S. and second-largest in the South Central Pennsylvania area. In 1860, the population was 17,603 growing to 59,949 by 1930.
The city's primary industries include healthcare, tourism, public administration, manufacturing, and both professional and semi-professional services. Lancaster is a hub of Pennsylvania's Dutch Country.
Lancaster is located 59 miles southwest of Allentown and 61 miles west of Philadelphia. It is a transportation hub with many major roadways passing through or around the city, including US 30, US 222, PA 283, PA 72, and PA 272.
Lancaster was the capital of Pennsylvania from 1799 to 1812, with the state capital located at the Court House (built 1784 and demolished 1852 and now site of Soldiers & Sailors Monument at Penn Square). In 1812, the capital was moved to Harrisburg, where it has remained since. After the American Revolutionary War, Lancaster became an iron-foundry center. Two of the most common products needed by pioneers to settle the Frontier were manufactured in Lancaster: the Conestoga wagon and the Pennsylvania long rifle. The Conestoga wagon was named after the Conestoga River, which runs through the city. The innovative gunsmith William Henry lived in Lancaster and was a U.S. Congressman and leader during and after the American Revolution. The city of Lancaster was home to several important figures in American history. Wheatland, the estate of James Buchanan, the fifteenth President of the United States, is one of Lancaster's most popular attractions.
Lancaster had seven National Banks chartered during the Bank Note Era, and all seven of those banks issued National Bank Notes.
Bank History
- Organized February 8, 1882
- Chartered February 21, 1882
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Changed to State Charter with Title Change to Fulton Bank, Lancaster, PA, July 1, 1974
- Still in business as Fulton Bank (January 2023)
On February 6, 1882, a very large meeting of representative businessmen of Lancaster County was held in the orphan's court room to take preliminary steps in the organization of the proposed new national bank to be located in Lancaster. J. Hartman was called to the chair; and John B. Miller and Gabriel Long were appointed secretaries. Jac. M. Frantz offered a series of resolutions that the bank be called "The Fulton National Bank of Lancaster," doing business in Lancaster, with $200,000 capital; shares of $100 each; that the number of directors be 13; and that the meeting proceed to nominate and elect directors, the chair to appoint tellers to conduct the election. A recess of a half hour was taken to let the officers print tickets. On motion of John M. Stehman, the names of the stockholders were read, a lengthy list, no person having over ten shares. The directors elected were: John R. Bitner, John D. Skiles, H.K. Miller, L.S. Hartman, John L. Miller, David Brown, Samuel Groff, John R. Bricker, D.B. Landis, John Fridy, E.J. Kendig, Abram B. Huber, and S.M. Seldomridge. S.M. Seldomridge who was elected a director declined to serve and H.K. Mayer was chosen instead. On February 8, the directors elected the following officers: John R. Bitner, president; Lewis S. Hartman, secretary; Chas. Fon Dersmith, cashier; John Hertzler (of Elizabethtown), Teller; Graybill Long, clerk; and J. Hay Brown, solicitor. No vice president was elected. On Monday, February 13, H.M. Mayer of Rohrerstown was elected vice president. About $75,000 of the capital stock was paid in. The location of the bank had not been definitely settled.
On February 21, 1882, the comptroller of the currency authorized The Fulton National Bank of Lancaster to commence business. The bank leased from Jacob B. Long, broker, the Eshelman and Rathvon banking room, corner Centre Square and East King Street and planned to commence business there in early March. In consideration for the transfer of the lease, the bank leased for Mr. Long, for one year, the entire second story of the white marble building, No. 22, North Queen Street. The banking room was remodeled for the start of business. It contained one of the best and safest vaults in Lancaster, with a Farrel & Herring burglar proof door and Sargent lock. It was not the intention to locate the bank permanently in the Eshleman and Rathvon building, but to erect at an early day a new and convenient bank building on North Queen Street as soon as an appropriate site could be secured. Lancaster
On March 31, 1883, the new banking house of the Fulton National Bank, No. 11, North Queen Street, was opened for business. The building was erected expressly for a banking house, and was one of the most substantial, convenient and best appointed banks in the state. It was designed by Frederick Dinkelberg, architect, and erected by Philip Dinkelberg, carpenter and builder, under the supervision of the building committee, Messrs. John R. Bitner, Lewis S. Hartman, and John L. Miller. The style of architecture was Romanesque with the front elevation having the appearance of a two-story building. Four massive pillars of highly polished Quincy granite, with an entablature of finely cut, but unpolished granite, supported the front wall, which was of terra cotta tiles and Lancaster pressed brick. Above the front entrance the the banking room was the name of the institution, "Fulton National Bank," in large letters moulded in red tiles. There were three, second-story windows with arched tops, and spanning the three windows was a massive arch of red tiles, reaching almost to the cornice, the interior of the arch being filled in with light colored tiles, giving the front a unique and attractive appearance. All the front windows were filled with the finest plate glass set in solid oak frames. The front doers leading into the banking room were of solid oak, with handsomely carved mouldings, and inside the doors was a handsome vestibule of solid oak and plate glass, with doors right and left leading into the bank. In cold or windy weather this arrangement of the doors avoided any currents of air. The banking room was 24 feet, 4 inches in width, 70 feet in length and 32 feet in height from floor to ceiling. The ceiling was an elliptic arch, and was pierced by a skylight 15 feet long and 7 feet wide and filled with heavy frosted glass. The walls and ceiling were finished in grey sand mortar. The ground floor of the bank rested on two heavy brick arches, springing from the cellar. That part of the floor within the counters was of yellow pine; the part outside the counters, intended for the use of the public, was of tiles of white and blue marble. As stated above, the banking-house externally looked like a two-story building, but internally it was only one story, the lofty ceiling rising to the height of two full stories. The vault was entirely fire proof, standing in the middle of the room, and the officers and watchman could walk all around it to see that it was not tampered with. In rear of the vault is a small room intended for the use of private depositors. In rear of this was the directors' room. The cellar, the entrance to which was adjoining the directors' room, was furnished with a first class furnace, heating the entire building with hot air. The cost of the new building and the site was from $22,000 to $25,000.
On Tuesday, January 14, 1890, at the annual election the following directors were chosen: J.R. Bitner, Eli J. Kindig, Jacob R. Hershey, David Brown, John R. Bricker, Jacob Wolf, F.H. Bare, J.B. Esbenshade, Abram B. Huber, Samuel Groff, L.S. Hartman, John D. Skiles, and John B. Landis.
On Tuesday, January 14, 1896, stockholders elected the following directors: John R. Bitner, John D. Skiles, Frank H. Bare, Eli J. Kindig, Jacob R. Hershey, Abram B. Huber, John R. Bricker, Jacob B. Esbenshade, John B. Landis, Jacob Wolf, and Lemon W. Shirk.
On January 14, 1902, the stockholders elected the following directors: John D. Skiles, John R. Bricker, A.H. Diffenbaugh, Jacob B. Esbenshade, Jos. H. Gochnauer, Jos. Harnish, Jacob R. Hershey, Abram B. Huber, John B. Landis, John F. Ruth, and Lemon W. Shirk.
On Monday afternoon, February 10, 1919, Jacob R. Hershey, aged 81, for years one of the best known farmers and millers in the western section of Lancaster County, died at his home at Hershey's Mills, Manor Township. The deceased was born on the property on July 15, 1838. He was reared in agriculture and milling and assumed charge of the mill property in 1862. For fifteen years he had been one of the directors and vice president of the Fulton National Bank and was an incorporator and original stockholder. He was also one of the promoters and a director of the Columbia Trust Company. He was married on January 12, 1862 to Miss Catharine Davis of Rohrerstown.
In January 1932, the board of directors was announced as follows: John C. Carter, A.H. Diffenbaugh, Fred F. Groff, Jonas M. Harnish, Jacob D. Hershey, Penrose H. Ruhl, John H. Shirk, Charles F. Widmyer, John E. Malone, Jacob Bowmand and Harry W. Hunsecker. The directors elected the following officers: John C. Carter, president; Penrose H. Ruhl, vice president, cashier and trust officer; John M. Nolt, assistant cashier; Harold G. Sawyer, assistant cashier; Harold J. Frey, assistant trust officer; A.H. Diffenbaugh, secretary; John E. Malone, solicitor; and Mrs. Ruth M. Sheeler and Merle R. Burkhart, notaries.
On August 17, 1932, a committee of Lancaster citizens called upon Governor Pinchot and laid before him a plan for handling the affairs of the closed Lancaster Trust Company. The plan called for the Fulton National Bank of Lancaster, to take over a certain percentage of the assets of the Lancaster Trust and, in turn, to make available to depositors of the Lancaster Trust Company a certain percentage of their deposits immediately. A favorable decision would mean that the plan will be put into execution as soon as approved by the depositors and stockholders of the Lancaster Trust Company. An adverse decision will mean liquidation of the bank by the State Banking Department. Colonel J. Hale Steinman, speaking for the Reorganization Committee, told the Governor this: "Under the plan adopted last night by members of the Reorganization committee, which would involve turning over a substantial percentage of the assets of the closed Lancaster Trust Company to the Fulton National Bank, the depositors of the Lancaster Trust Company would receive twice as much of their deposits as they would get under liquidation." After the meeting, Colonel Steinman added: "If the plan is adopted the Lancaster Trust depositors will have available a large percentage of their deposits immediately." The following members of the Reorganization Committee took part in the conference: Samuel R. Slaymaker, C.F. Widmyer, A.B. Rote, Jack L. Straub, A.C. Darmstaetter, George Hambright, S.R. Zimmerman, Esq., Col. J. Hale Steinman, A.E. McCollough, George R. Weber, Fred F. Groff, Elmer J. Eshleman, Hon. G. Graybill Diehm and Senator John G. Homsher. Governor Pinchot assured members of the committee that he would give the matter consideration at the earliest possible moment. Following the conference, Governor Pinchot formally announced that he, together with Dr. William D. Gordon, Secretary of Banking; Attorney General William A. Schnader and Deputy Attorney General Harold Saylor would try to work out a satisfactory plan between the closed Lancaster Trust Company and the Fulton National Bank.
The Lancaster Trust Company, located at 36-38 North Queen Street, was created in 1890 with a capital of $250,000. J.I. Hartman of the Grocery firm of Miller & Hartman, was president; Henry Baumgardner of Baumgardner Co., coal merchants, was vice president.
On September 2, Dr. William D. Gordon, State Secretary of Banking, in charge of the closed Lancaster Trust Company, announced that he was selling to the Fulton National Bank, Lancaster assets consisting of cash, securities and commercial, paper, to enable the bank to make available to depositors of the closed institution an equivalent of 42% of their net deposit liability. Under the plan, all accounts in the closed institution of less than $200 would be made available in checking accounts in full in the Fulton National Bank. At the close of business, December 31, 1932, the Fulton National Bank had $10,969,240.79 in total resources with $600,000 capital stock, $1,038,328.59 in Surplus and undivided profits, circulation of $125,995 and deposits of $8,939,901.10. Trust funds amounted to $1,888,070.49.
In July 1974, two Lancaster County banks became the latest in the state to trade in their national charters for state charters. The switchover with approval of the State Banking Department were made by Farmers First Bank of Lititz and Fulton Bank of Lancaster, both previously had the designation "National" in their Names.
Official Bank Title
1: The Fulton National Bank of Lancaster, PA
Bank Note Types Issued
A total of $3,209,180 in National Bank Notes was issued by this bank between 1882 and 1935. This consisted of a total of 258,267 notes (191,244 large size and 67,023 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments Series 1875 4x5 1 - 500 Series 1875 3x10-20 1 - 5790 Series 1875 50-100 1 - 200 1882 Brown Back 3x10-20 1 - 8400 1882 Date Back 3x10-20 1 - 12900 1882 Value Back 3x10-20 12901 - 20634 1902 Plain Back 3x10-20 1 - 12387 1929 Type 1 6x10 1 - 3588 1929 Type 1 6x20 1 - 964 1929 Type 2 10 1 - 31655 1929 Type 2 20 1 - 8056
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1882 - 1936):
Presidents:
- John R. Bitner, 1882-1896
- John D. Skiles, 1897-1913
- John C. Carter, 1914-1933
- John E. Malone, 1934-1935
Cashiers:
- Charles Allen Fon Dersmith, 1882-1886
- John C. Carter, 1887-1913
- Ira Hayes Bare, 1914-1926
- Penrose H. Ruhl, 1927-1933
- Harold G. Sawyer, 1934-1935
Other Bank Note Signers
- Jacob R. Hershey, Vice President, 1900...1918 Signature
- There are currently no known Assistant Cashier bank note signers for this bank.
Wiki Links
- Pennsylvania Bank Note History
- General information on Lancaster (Wikipedia)
- General information on Lancaster County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Lancaster, 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
- Intelligencer Journal, Lancaster, PA, Mon., Feb. 6, 1882.
- Intelligencer Journal, Lancaster, PA, Wed., Feb. 8, 1882.
- The Semi-Weekly New Era, Lancaster, PA, Sat., Feb. 18, 1882.
- Intelligencer Journal, Lancaster, PA, Wed., Feb. 22, 1882.
- Daily intelligencer, Lancaster, PA, Wed., Mar. 8, 1882.
- Lancaster Daily Intelligencer, Lancaster, PA, Fri., Mar. 30, 1883.
- Lancaster New Era, Lancaster, PA, Tue., Jan. 14, 1890.
- The Semi-Weekly New Era, Lancaster, PA, Wed., Jan. 15, 1896.
- The Semi-Weekly New Era, Lancaster, PA, Wed., Jan. 15, 1902.
- The Semi-Weekly New Era, Lancaster, PA, Wed., Feb. 12, 1919.
- Lancaster New Era, Lancaster, PA, Wed., Jan. 13, 1932.
- Lancaster New Era, Lancaster, PA, Wed., Jan. 20, 1932.
- Sunday News, Lancaster, PA, Sun., Feb. 28, 1932.
- Lancaster New Era, Lancaster, PA, Wed., Aug. 17, 1932.
- The Evening News, Harrisburg, PA, Fri., Sep. 2, 1932.
- Sunday News, Lancaster, PA, Sun., Jan. 8, 1933.
- The York Dispatch, York, PA, Tue., July 9, 1974.