Germania National Bank, San Francisco, CA (Charter 6592)

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Germania National Bank of San Francisco, California, before the 1906 earthquake. This building at the northeast corner of New Montgomery and Mission Streets was destroyed and a temporary office was established at 214 Laguna Street
Germania National Bank of San Francisco, California, before the 1906 earthquake. This building at the northeast corner of New Montgomery and Mission Streets was destroyed and a temporary office was established at 214 Laguna Street.

Germania National Bank, San Francisco, CA (Chartered 1903 - Liquidated 1907)

Town History

San Francisco, officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the fourth most populous city in California, with 808,437 residents, and the 17th most populous city in the United States as of 2022.

San Francisco was founded on June 29, 1776, when settlers from New Spain established the Presidio of San Francisco at the Golden Gate, and the Mission San Francisco de Asís a few miles away, both named for Francis of Assisi. The California Gold Rush of 1849 brought rapid growth, transforming an unimportant hamlet into a busy port, making it the largest city on the West Coast at the time; between 1870 and 1900, approximately one quarter of California's population resided in the city proper. In 1856, San Francisco became a consolidated city-county. After three-quarters of the city was destroyed by the 1906 earthquake and fire, it was quickly rebuilt, hosting the Panama-Pacific International Exposition nine years later.

San Francisco and the surrounding San Francisco Bay Area are a global center of economic activity and the arts and sciences, spurred by leading universities, high-tech, healthcare, finance, insurance, real estate, and professional services sectors. As of 2020, the metropolitan area, with 6.7 million residents, ranked 5th by GDP ($874 billion) and 2nd by GDP per capita ($131,082), ahead of global cities like Paris, London, and Singapore.

San Francisco had 21 National Banks chartered during the Bank Note Era, and all 21 of those banks issued National Bank Notes.

Bank History

  • Organized Jan 16, 1903
  • Chartered Jan 26, 1903
  • Succeeded Germania Trust Co.
  • Liquidated Aug 1, 1907
  • Consolidated with Central Trust Company of California, San Francisco

The Germania National Bank of San Francisco was incorporated in January 1903. Its statement of January 29, 1906, showed paid-in capital of $300,000, deposits of $809,537, surplus and undivided profits of $20,705 and resources of $1,230,242. The directors were W.A. Frederick, F. Kronenberg, John G. Rapp, F.A. Kuhls, Fred Woerner, Walter M. Willett, Joseph Schweitzer, F.C. Siebe, Henry Brunner, Phillipp Zimmermann, O.A. Hale, R.F. Crist, E. Luenberger, H. Fred Suhr, Jr., and Adolph Meyer.[1] 

In January 1903, articles of incorporation of the Germania Trust Company were amended to change the name to the Central Trust Company of California.[2]

In June 1905, Mr. R.F. Crist, assistant cashier of the Germania National Bank, accompanied by his wife, was attending the 12th annual convention of the California Bankers' Association in Oakland.[3]

In January 1906, at the annual meeting of the stockholders at the bank situated at the northeast corner of New Montgomery and Mission Streets, all officers and directors were re-elected. The officers were W.A. Frederick, president; F. Kronenberg, vice president; F. Kronenberg, Jr., cashier; R.F. Crist, assistant cashier. The directors were W.A. Frederick, F. Kronenberg, John G. Rapp, F.A. Kuhls, Fred Woerner, Walter M. Willet, Joseph Schweitzer, F.C. Siebe, Henry Brunner, Philipp Zimmerman, O.A. Hale, R.F. Crist, E. Leuenberger, H. Fred Suhr, Jr., and Adolph Meyer.The San Francisco Call and Post, San Francisco, CA, Wed., Jan. 10, 1906.r. Crist was formerly an assistant cashier of the Central Trust Company of Oakland.[4] 

On Wednesday, April 18, 1906, the coast of Northern California was struck by a major earthquake with an estimated moment magnitude of 7.9. As damaging as the earthquake and its aftershocks were, the fires that burned out of control afterward were far more destructive. It has been estimated that up to 90% of the total destruction was the result of the subsequent fires. Within three days, over 30 fires, caused by ruptured gas mains, destroyed approximately 25,000 buildings on 490 city blocks. Since widespread practice by insurers was to indemnify San Francisco properties from fire, but not from earthquake damage, some property owners deliberately set fire to damaged properties. The fires cost an estimated $350 million at the time.

In May, temporary offices of the Germania National Bank were set up at the corner of 14th and Harrison Streets.[5] In December 1906, the directors were W.A. Frederick, F. Kronenberg, H. Brunner, F.A. Kuhls, John Rapp, Walter M. Willett, R.F. Crist, H. Fred Suhr, Jr., F.C. Siebe, Fred Woerner, O.A. Hale, Phillipp Zimmermann, E. Leuenberger, Adolph Meyer, and Joseph Schweitzer. The officers were W.A. Frederick, president; F. Kronenberg and R.F. Crist, vice presidents; and Fred Kronenberg, Jr., cashier. The Germania National had paid up capital of $300,000 and was located at 519 Market Street, San Francisco.[6]

In February 1907, announcement was made of the amalgamation of the Germania National Bank with the Central Trust Company of California. The first steps taken were the election of a new board of officers and directors of the Central Trust Company which embraced representatives of the Germania National Bank's interests. Frank J. Symmes retired from the Central Trust Company as president and was succeeded by Charles F. Leege. Henry Brunner who organized the Central Trust Company in 1897 and had been the cashier and manager of the company ever since, was promoted to vice president. The amalgamated banks would be known as the Central Trust Company with resources of more than $7,000,000. Charles F. Leege, the new president, was a member of the firm of Leege & Haskins, coffee dealers. He was a new member of the board. The other new members representing the Germania National Bank were W.A. Frederick, newly elected vice president; B.C. Tognazzi, elected cashier and manager of the Central Trust Co. and formerly manager of the Swiss-American Bank; Fred V. Vollmer, assistant cashier of the Central Trust Co. and who had been connected officially with various city banks for about 15 years; F.A. Kuhls of Kuhls, Schwartke & Co.; Adolph Meyer, Joseph Schweitzer of the Bauer-Schweitzer Malting Co.; Philip Zimmermann of the Krug-Zimmermann Malting Co.; F. Kronenberg, John G. Rapp of the Rainier Brewing Co.; Fred Woerner of the David Woerner Cooperage Co. and California Barrel Co. The old members of the board re-elected were O.A. Hale and Henry Brunner, vice presidents; Fred F. Ouer, assistant cashier; Frank S. Jacott, trust officer; Charles F. Leege, E.A. Denicke, O.A. Hale, Charles C. Moore, George C. Perkins, G.H. Umbsen, Henry Brunner, James Madison, Edward W. McCarthy, and Gavin McNab, directors. R.F. Crist, vice president of the Germania National and F. Kronenberg, Jr., cashier of the Germania National would be in charge of the Mission branch of the Central Trust Company. The capital stock of the Central Trust Co. remained at $1,500,000 paid up, the figure to which it was raised when the former Germania Trust company was reorganized into the Central Trust Company. The Germania National Bank and the Central Trust Company stockholders had just approved the plan.[7]

Official Bank Title(s)

1: The Germania National Bank of San Francisco, CA

Bank Note Types Issued

1902 Red Seal proof $50-$100 sheet approved February 7, 1903
1902 Red Seal proof $50-$100 sheet approved February 7, 1903. Courtesy of the Smithsonian Institution Archives

A total of $217,600 in National Bank Notes was issued by this bank between 1903 and 1907. This consisted of a total of 23,446 notes (23,446 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
1902 Red Seal 4x5 1 - 3745
1902 Red Seal 3x10-20 1 - 1969
1902 Red Seal 50-100 1 - 295

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1903 - 1907):

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

  • San Francisco, CA, 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 Bankers' Magazine, Vol. 72, Jan. 1906-June 1906, p. 702 & 732.
  2. ↑ San Luis Obispo Tribune, San Luis Obispo, CA, Thu., Jan. 29, 1903.
  3. ↑ Oakland Tribune, Oakland, CA, Wed., May 17, 1905.
  4. ↑ The San Francisco Call and Post, San Francisco, CA, Tue., June 23, 1903.
  5. ↑ San Francisco Chronicle, San Francisco, CA, Sun., May 27, 1906.
  6. ↑ San Francisco Chronicle, San Francisco, CA, Thu., Dec. 20, 1906.
  7. ↑ The San Francisco Call and Post, San Francisco, CA, Fri., Feb. 1, 1907.
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