Galveston National Bank, Galveston, TX (Charter 4153)

Check for $240.30 drawn on the Galveston National Bank dated November 16, 1900. Engraving of the bank with horse-drawn carriage at left. Check was payable to James J. Taylor for 'cook in dormitory'. Courtesy of Heritage Auctions, www.ha.com

Galveston National Bank, Galveston, TX (Chartered 1889 - Liquidated 1911)

Town History

Advertisement from April 1909 for the Galveston National Bank located at Strand and Tremont Streets.

Galveston is a resort city and port on the Gulf Coast of the U.S. state of Texas. It encompasses 211.31 square miles on Galveston Island and Pelican Island. As of the 2020 census, the city had a population of 53,695, making it the second-largest municipality in Galveston County, where it also serves as the county seat. Located at the southern end of the Houston metropolitan area, Galveston sits on the northwestern coast of the Gulf of Mexico.

Galveston, or Galvez's town, was named after 18th-century Spanish military and political leader Bernardo de Gálvez, 1st Count of Gálvez (1746–1786). The first European settlements on Galveston Island were built around 1816 by French pirate Louis-Michel Aury to help the fledgling First Mexican Empire fight for independence from the Spanish Empire. The Port of Galveston was established in 1825 by the Congress of Mexico following its independence. The city was the main port for the fledgling Texas Navy during the Texas Revolution of 1836, and later served temporarily as the new national capital of the Republic of Texas. In 1865, General Gordon Granger arrived at Ashton Villa and announced to some of the last enslaved African Americans that slavery was no longer legal. This event is commemorated annually on June 19, the federal holiday of Juneteenth.

During the 19th century, Galveston became a major U.S. commercial center and one of the largest ports in the United States. It was, for a time, Texas' largest city, known as the "Queen City of the Gulf". It was devastated by the unexpected Galveston Hurricane of 1900, whose effects included massive flooding and a storm surge which nearly wiped out the town. The natural disaster on the exposed barrier island is still ranked today as the deadliest in United States history, with an estimated death toll between 6,000 and 12,000 people. The city subsequently reemerged during the Prohibition era of 1919–1933 as a leading tourist hub and a center of illegal gambling, nicknamed the Free State of Galveston until this era ended in the 1950s with subsequent other economic and social development.

The Strand Historic District, also known as the Strand District, in downtown Galveston, Texas, is a National Historic Landmark District of mainly Victorian era buildings that now house restaurants, antique stores, and curio shops. The area is a major tourist attraction for the island city and also plays host to two very popular seasonal festivals. It is widely considered the island's shopping and entertainment center. The district includes properties along the south side of Harborside Drive (Avenue A) and both sides of The Strand (Avenue B) and Mechanic Street (Avenue C) from 20th Street westward to 26th Street. The street labeled "The Strand" is actually named Avenue B, which runs parallel to Galveston Bay. The Galveston hurricane of 1900 was devastating to much of the city, and the Strand district was no exception. Many of its buildings suffered catastrophic damage — some buildings lost entire floors, others lost elaborate cornices and flourishes. Many businesses elected to move away from the wharf and, by extension, away from the Strand.

Much of Galveston's economy is centered in the tourism, health care, shipping, and financial industries. The 84-acre University of Texas Medical Branch campus with an enrollment of more than 2,500 students is a major economic force of the city. Galveston is home to six historic districts containing one of the largest historically significant collections of 19th-century buildings in the U.S., with over 60 structures listed on the National Register of Historic Places, maintained by the National Park Service in the United States Department of the Interior.

Galveston had nine National Banks chartered during the Bank Note Era, and seven of those banks issued National Bank Notes.

Bank History

• Organized November 1, 1889
• Chartered November 8, 1889
• Succeeded Texas Banking & Insurance Co.
• Absorbed 8068 November 24, 1906 (Merchants National Bank, Galveston, TX)
• Liquidated October 16, 1911
• Absorbed by 8899 (City National Bank, Galveston, TX)

Texas Banking & Insurance Company

On May 4, 1870, in Austin the House met and passed to first reading acts to incorporate the Texas Immigration Company, Texas Banking and Insurance Company of Galveston, Trinity University, and Galveston Bay Dredging Company. On July 11, 1870, the Governor gave his consent to the following bills: requiring late Assessors and Collectors to complete the assessment of taxes in their respective counties; to incorporate the Magnolia Grove Association, to incorporate the Texas Banking and Insurance Company; establishing a State Police; to provide for redistricting the State; and many others of minor importance.

The Texas Banking and Insurance Co. planned to open their doors for business on or about the 15th day of September, 1870, in the Mills Building, corner of Strand and Tremont Streets. The board of directors consisted of J.M. Brandon of J.M. Brandon & Co.; J.C. Wallis of Wallis, Landes & Co.; Governor F.R. Lubbock of F.R. Lubbock & Son; M. Quin of Quin & Hill; E.S. Jemison of Moody & Jemison, M.W. Baker of A.C. & M.W. Baker; Leon Blum of L. & H. Blum; Geo. Schneider of Geo. Schneider & Co.; R.S. Willis of P.J. Willis & Bro; T.A. Gary of Gary & Skinner; W.B. Wall of Burnett & Wall; Robt. Mills of R. & D.G. Mills; all of Galveston; and T.J.H. Anderson of Port Sullivan, Texas. The officers were J.M. Brandon, president; J.C. Wallis, vice president; N.O. Lauve, secretary; and Alphonse Lauve, cashier. The authorized capital was $500,000. Having complied with Section VIII of the charter, the Insurance Department would be ready after September 12th to issue open and special policies on Fire, Marine and Inland Transportation Risks at the lowest rates of insurance. The Banking Department would be ready a few days later. The office was temporarily at No. 54 Strand, upstairs. On October 17th, The Daily News noted the commencement of business of both departments of the Texas Banking and Insurance Company.

In July 1880, N.B. Sligh, genial cashier of the Texas Banking and Insurance Company, exhibited to a reporter of The News a $10 bill on the Commercial and Agricultural Bank of Galveston, issued January 1, 1848, signed by S.M. Williams, president; and H. Jenkins, cashier. It was sent by the banking firm of Giddings & Giddings of Brenham who said "We presume this bank has long since would up, but, if it is worth anything, place same to our credit. If worthless, return it when you write us again." The bill was in very good state of preservation and was well executed. At the top and in the center of the bill was a finely executed vignette of Washington, and in the lower left-hand corner was a cut representing a cotton plant in bloom and a hogshead of sugar. This was the first and only bank of issue established or allowed under the Republic from which it derived its authority by virtue of the signal services rendered by Co. S.M. Williams and Thos. F. McKinney, and continued in existence until the death of is president in 1858 when its affairs were wound up by the president of the First National Bank of Houston, Mr. B.A. Shepard, and Judge Philip C. Tucker of Galveston.

In December 1881, N.B. Sligh, cashier of the Texas Banking and Insurance Company, published the notice of the annual election for 13 directors to be held at the banking house on January 2, 1882. Mr. Sligh was formerly cashier of the Island City Savings Bank on Market Street.

In January 1889, to following directors were elected by the stockholders of the Texas Banking and Insurance Company: R.S. Willis, W.K. McAlpine, J.G. Goldthwaite, J.E. Wallis, T.J. Groce, C.L. Cleveland, J.P. Davis, A.C. Baker, A.P. Luckelt, Dr. Ed. Randall, Sr., Warren Adams, J.J. Schott, and Wm. R. Johnson. T.J. Groce, vice president, published a notice of a semi-annual dividend of 4% payable after the 10th.

The Galveston National Bank

On August 16, 1889, stockholders voted to merge into the national banking system under the name of The Galveston National Bank with a capital increased to $500,000. Within the past 12 months the deposits of the Texas Banking and Insurance Company increased over $200,000 and for the year 1888, net earning amounted to 10% and for the first half of the year to a fraction under 8% with the best earnings still ahead. The new organization would be under the same management as the Texas Banking and Insurance Company, backed by a director composed of progressive businessmen. The price fixed for the new stock was $105 per share with $100 par value with applications for subscriptions taken at the office of the company.

On November 8, 1889, Jesse D. Abrahams, Deputy and Acting Comptroller of the Currency, authorized the Galveston National Bank to begin business with a capital of $500,000; and the First National Bank of Lake Charles, Louisiana, with a capital of $50,000.

In January 1890, Mr. L.R. Bergerson, until recently with the City National Bank of Dallas, was elected assistant cashier of the Galveston National Bank and would claim Galveston as his home. The officers and directors elected were R.S. Willis, president; H.A. Laudes, vice president; T.J. Groce, cashier; and L.R. Bergeron, assistant cashier. The directors were R.S. Willis, H.A. Laudes, T.J. Groce, J.G. Goldthwaite, Fon. Cannon, A.C. Baker, W.K. McAlpine, J.P. Davis and J.H. Burnett.

On Tuesday, January 10, 1905, at the annual meeting of the stockholders, the following directors were elected to serve for the ensuing year: T.J. Groce, H.A. Landes, Guy M. Bryan, Browning Groce, C.J. Wolston, D.E. Crosland, and D.B. Henderson. The following were elected officers: T.J. Groce, president; H.A. Landes and Guy M. Bryan, vice presidents; C.J. Wolston, cashier; and Browning Groce, assistant cashier.

Browning Groce, Assistant Cashier, Galveston National Bank, led the discussion on "Insuring Deposits in National Banks," at the Convention of the First District of the Texas Bankers' Association which met in Orange, Texas, on January 22d, 1906.

On Saturday afternoon, November 24, 1906, stockholders of the Merchants National Bank voted to go into immediate voluntary liquidation. Mr. J.R. Cheek, vice president of the board of directors, made the following statement: "This is a case simply in which the stockholders of the Merchants National Bank were offered what they considered a good price for their stock by the Galveston National Bank and they took it. A meeting of the board of directors was held several days ago at which they had before them the proposition of the Galveston National Bank and they decided it a good one. All checks on the Merchants National Bank will be promptly honored by the Galveston National Bank when presented." The Merchants National began business in Galveston, February 1 of the present year. The following were its officers: Moritz O. Kopperl, president; James R. Cheek and Burt H. Collins, vice presidents; Buford H. Walker, cashier; and Numa O. Lauve, assistant cashier. Mr. Kopperl sold his stock to other stockholders several days ago and retired from the directorate.

Effective May 1, 1907, Mr. Guy M. Bryan, vice president of the Galveston National Bank, resigned to take a similar position with the Lumbermen's National Bank of Houston. Mr. Bryan would reside in Houston but would retain his position as director in the Galveston National. Mr. Bryan had been identified with the organization of the Lumbermens National. Mr. Bryan began his commercial career clerking in a hardware store in Galveston when a small boy. About 12 years ago, he bough an interest in a hardware store and established the firm of Guy Bryan & Co. He was successful and after a few years incorporated the company under the name of the Guy Bryan Hardware Company. In 1904 he sold his interest to devote his time to the banking business and the hardware firm was conducted by Boddeker & Lyons. He was elected vice president of the Galveston National Bank.

The report of condition at the close of business, January 7, 1911, showed total resources of $2,049,237.36 with capital stock paid in $125,000, surplus $75,000, undivided profits $37,812.52, circulation $74,200, and deposits of over $1,700,000. The report was signed by T.J. Groce, president, and directors attesting to the correctness were J.W. Hurst, H.A. Landes, and Fred Hartel.

On Wednesday, August 2, 1911, Thomas J. Groce, president of the Galveston National Bank who was stricken with paralysis Sunday morning died at an early hour this morning. Mr. Groce was a native of Alabama, a resident of Galveston for 30 years, and at the time of his death, city treasurer. His first entry into the commercial field of the State was 30 years ago when he became associated with the firm of Moody & Groce. The Galveston National Bank was consolidated with the City National Bank Tuesday. The Galveston National Bank was organized many years ago and was first known as the Texas Banking and Insurance Company. On August 3rd, Browning Groce, the oldest son of the late Thomas J. Groce and a vice president of the Galveston National Bank, was found in his home, dead from a knife cut across the throat. National Bank examiners Van Zandt and Logan said that there was absolutely nothing in the affairs of the Galveston National Bank or of the City National Bank which reflected upon Browning Groce in any way, and that his suicide was undoubtedly brought about by his grief over the sudden death of his father to whom he was greatly attached. They also said that the City National Bank was in a strong condition and that the trade which the City National Bank made with the Galveston National Bank by which the business of the latter was purchased would rebound greatly to the advantage of the stockholders of the Galveston National Bank.

W.L. Moody & Co. Bankers and Cotton Factors. Cotton factors was a term used for cotton brokers. W.L. Moody was also the president of the National Bank of Texas (Charter 1642) and City National Bank of Galveston (Charter 4344). His son, W.L Moody, Jr., was president of the City NB of Galveston (Charter 8899). W.L. Moody, Jr., was one of the ten richest men in America when he died in 1954.

Official Bank Title

1: The Galveston National Bank, Galveston, TX

Bank Note Types Issued

1882 Brown Back $10 bank note with pen signatures of A.J. Compton, Cashier and L.R. Bergerson, Vice President. Courtesy of Heritage Auctions, www.ha.com

1882 Brown Back $5 bank note with pen signatures of C.J. Wolston, Cashier and probably Thomas J. Groce, President. Courtesy of Heritage Auctions, www.ha.com

A total of $416,350 in National Bank Notes was issued by this bank between 1889 and 1911. This consisted of a total of 38,780 notes (38,780 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
1882 Brown Back	4x5	1 - 2280
1882 Brown Back	3x10-20	1 - 5960
1882 Date Back	3x10-20	1 - 45
1902 Date Back	3x10-20	1 - 1410

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1889 - 1911):

Presidents:

• Richard Short Willis, 1890-1891
• Thomas Jared Groce, 1892-1910

Cashiers:

• Thomas Jared Groce, 1890-1891
• Louis Rama Bergeron, 1892-1893
• Alfred James Compton, 1894-1901
• Louis Rama Bergeron, 1902-1902
• Christopher John Wolston, 1903-1906
• J. H. Strother, 1907-1910

Other Known Bank Note Signers

• Guy Morrison Bryan II, (VP 1905...1907)

Bank Note History Links

• Galveston National Bank, Galveston, TX History (NB Lookup)
• Texas Bank Note History (BNH Wiki)

Sources

• Galveston, TX, 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