Hackettstown National Bank, Hackettstown, NJ (Charter 1259)

Postcard of the Hackettstown National Bank, ca1910s. Courtesy of N. Stepowyj

Hackettstown National Bank, Hackettstown, NJ (Chartered 1865 - Open past 1935)

Town History

Stock certificate dated April 24, 1906, and signed by Henry W. Whipple, Cashier and S.R. Smith, President. The Hackettstown Bank was chartered April 3, 1855 and it organized as a National Bank June 10, 1865. Courtesy of N. Stepowyj

Hackettstown is a town in Warren County, New Jersey. It is perhaps best known as the home to the US headquarters of Mars, Inc. Hackettstown is 49.6 miles northeast of Allentown and 55.3 miles northwest of New York City. As of the 2020 United States census, the town's population was 10,248. In 1860 the population was 1,322, increasing to 3,038 by 1930.

Hackettstown was incorporated as a town by an act of the New Jersey Legislature on March 9, 1853, from portions of Independence Township. It was named after Samuel Hackett, an early settler and large landowner. Hackett is said to have "contributed liberally to the liquid refreshments on the christening of a new hotel," in order to secure the name which, before this, had been Helms' Mills or Musconetcong.

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

Bank History

The Hackettstown Bank Obsolete Proof $5, Haxby NJ-185. Central vignette of Andrew Jackson flanked by 'Commerce' holding a shield and caduceus and a native American with an axe. Train vignette at lower left and girl saluting at lower right. Courtesy of N. Stepowyj

The Hackettstown Bank Obsolete Proof $50, Haxby NJ-185. Portraits of Washington and Clay flanking a vignette of a farm family herding sheep. Courtesy of N. Stepowyj

• Organized May 16, 1865
• Chartered June 10, 1865
• Succeeded Hackettstown Bank
• Note: Special. "The Bank stipulates not to ask for more than $110,000 of circulation."
• Conservatorship March 18, 1933
• Licensed September 23, 1933
• Bank was Open past 1935

The Hackettstown Bank was chartered April 3, 1855 and it organized as a national bank on May 16, 1865, receiving charter No. 1259 on June 10, 1865.

In March 1855, a bill passed in the New Jersey House to incorporate the Hackettstown Bank. In July 1855, four of the six new banking companies chartered by the last Legislature had gone into operation, viz: Burlington Bank of Burlington City; Farmers' and Mechanics' Bank of Camden; The Hackettstown Bank at Hackettstown in Warren County; and the Gloucester County Bank at Woodbury. No movement had been made toward establishing the remaining two, viz: The Freehold Banking Company and the City Bank at Perth Amboy.

Peter Smith was born near Schooley's Mountain in Morris County on October 1, 1808. When a young man he commenced a mercantile business at Waterloo. He was active in the organization and erection of the Newark Conference Centenary Collegiate Institute at Hackettstown and at the time of his death was a member of the board of trustees of that institution and of the Newark Conference Camp-Meeting Association. He was also president of the Hackettstown National Bank having filled that position since June 1863. He was made a director at the organization of the bank in June 1855 and for several years before his death had been the only member of the original board connected with the bank. He was also a director of the Hackettstown Mutual Fire Insurance Company. He was closely identified with the business growth and interests of this section of the state up to his demise on March 12, 1877. He was the father of Seymour R. Smith, president of the Hackettstown National Bank from 1891 until his death on February 14, 1932.

In April 1906, Henry W. Whipple, assistant cashier of the National Union Bank of Dover, was elected cashier of the Hackettstown National Bank to succeed Robert A. Cole who resigned on April 1st. The new cashier had 16 years experience in banking in Elizabeth, New York and Dover.

In January 1907, the comptroller of the currency reported changes in national banks in New Jersey with H.W. Hunt, vice president of the Hackettstown National Bank in place of M.T. Welsh. At the Peoples National Bank of Hackettstown, W.G. Surphin, vice president in place of M.T. Welsh. Mr. Welsh would continue as cashier.

In October 1911, P. Louis Smith, assistant cashier of the Hackettstown National Bank and son of Seymour R. Smith, the president, was made a member of the board of directors and vice president of the bank to succeed the late Halloway H. Hunt.

In August 1913, at a meeting of the board of directors, Caleb V.S. Rea, a local druggist, was elected a member of the board to succeed William M. Everitt, deceased. Mr. Rea was a son of the late William Rea, a State Senator and first president of the Hackettstown Bank.

In 1968, the First National Bank of Washington, New Jersey, merged with the Hackettstown National Bank to form the Warren County National Bank.

On December 17, 1969, announcement was made of a plan of reorganization, under which First National State Bancorporation would be established as a bank holding company. Shareholders of First National State Bank in October approved the holding company plan, under which the bank will become a wholly owned subsidiary of Bancorporation. Under the plan, shareholders of the bank would exchange their shares for an equal number of shares of Bancorporation. The effective date of the exchange would be January 15, 1970. On that date the shareholders of First National State Bank will become the shareholders of First National State Bancorporation. The bank has announced that Bancorporation would operate as a registered bank holding company under the federal Bank Holding Company Act of 1956. In accordance with that plan, the directors of First National State Bank and of The Warren County National Bank, headquartered in Washington, New Jersey, announced their intention to affiliate through the new holding company. Under the plan, The Warren County National Bank would also become a wholly-owned subsidiary of First National State Bancorporation. The plan required approval of the shareholders and of the Comptroller of the Currency and other federal regulatory authorities. The plan would use a procedure whereby the Warren County National Bank would first merge with a newly organized national bank, a subsidiary of Bancorporation, established solely for the merger. First National State Bank of New Jersey had 28 offices in Essex County and as of September 30th, assets of $812,927,274. The Warren County National Bank had assets reported on the same date of $34,730,136, and had three offices in Warren County with authority to open a fourth.

In January 1970, shareholders of Warren County National Bank of Washington Township voted to affiliate with First National State Bank Corp. of Newark. Both banks would retain the respective corporate names and identities and their own board of directors, administrative officers and staffs. In May the First National Bank of Spring Lake planned to join with First National Bancorporation to make the first billion dollar banking institution in the state. The banks and their respective assets from their last annual reports were: First National State Bank with 28 offices in Essex County, $883 million; The Edison Bank with headquarters in South Plainfield and 9 offices in Middlesex County, $71 million; City National Bank of Hackensack with 3 offices in Bergen, $45 million; Warren County National Bank with 3 offices in Warren County, $36 million; and First National Bank of Spring Lake with two Monmouth County offices, $19 million. Bancorporation's proposed alignment would give it strong representation in two of the three banking districts created by the state Legislature in 1968, the Northern and Central districts, accounting for 82.8% of the state's total commercial bank deposits and nearly 80% of New Jersey's population. W. Paul Stillman, chairman of the board of the Bankcorporation said the company planned to form an affiliate in the Southern banking district in the future. He also revealed plans for a bank charter in Trenton and a pending merger with the Orange Valley Bank, Orange, with assets of $7 million.

• 09/24/1971 The Warren County National Bank (FDIC #6433) Changed Institution Name to First National State Bank of Northwest Jersey.
• 09/24/1971 Main Office moved to Route 10 And South Street, Succasunna, NJ 07876.
• 09/24/1971 Acquired Citizens National Bank of Morris County (FDIC #6381) in Succasunna, NJ.
• 01/01/1983 Changed Institution Name to First National State Bank of West Jersey.
• 01/01/1983 Main Office moved to Route 69 At Sand Hill Road, Raritan Township, NJ 08822.
• 01/01/1983 Acquired The Hunterdon County National Bank of Flemington (FDIC #6336) in Raritan Township, NJ.
• 10/31/1984 Changed Institution Name to First Fidelity Bank, National Association, West Jersey.
• 07/01/1987 Merged and became part of First Fidelity Bank, National Association, North Jersey (FDIC #6301) in Totowa, NJ.
• 11/12/1992 Merged and became part of First Fidelity Bank, National Association, New Jersey (FDIC #6385) in Newark, NJ.
• 01/11/1994 Merged and became part of First Fidelity Bank, National Association (FDIC #33869) in Salem, NJ.
• 01/01/1996 Changed Institution Name to First Union National Bank.
• 04/01/2002 Changed Institution Name to Wachovia Bank, National Association.
• 03/20/2010 Merged and became part of Wells Fargo Bank, National Association (FDIC #3511) in Sioux Falls, SD.

Official Bank Title

1: The Hackettstown National Bank, Hackettstown, NJ

Bank Note Types Issued

Series of 1875 $20 bank note with pen signatures of Robert A. Cole, Cashier and John C. Welsh, President. Courtesy of Heritage Auctions, www.ha.com

1882 Brown Back $10 bank note with pen signatures of Robert A. Cole, Cashier and S.R. Smith, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

1902 Date Back $10 bank note with pen signatures of Henry W. Whipple, Cashier and S.R. Smith, President. This is a Replacement note. Courtesy of Lyn Knight Auctions, www.lynknight.com

1902 Plain Back $20 bank note with pen signatures of Howard Klotz, Cashier and P. Lewis Smith, Vice President. Courtesy of Lyn Knight Auctions, www.lynknight.com

1929 Type 2 $10 bank note with printed signatures of W.M. Wisham, Cashier and C.V.S. Rea, President Courtesy of NBNCensus.com

A total of $3,314,520 in National Bank Notes was issued by this bank between 1865 and 1935. This consisted of a total of 283,692 notes (272,220 large size and 11,472 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 - 2000
Original Series	4x5	1 - 3500
Original Series	3x10-20	1 - 2200
Original Series	50-100	1 - 150
Series 1875	3x10-20	1 - 4100
1882 Brown Back	3x10-20	1 - 17307
1902 Red Seal	3x10-20	1 - 6000
1902 Date Back	3x10-20	1 - 14200
1902 Plain Back	3x10-20	14201 - 32873
1929 Type 2	5	1 - 6900
1929 Type 2	10	1 - 3792
1929 Type 2	20	1 - 780

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1935):

Presidents:

• Peter Smith, 1865-1876
• John Clouse Welsh, 1877-1890
• Seymour R. Smith, 1891-1931
• Peter Louis Smith, 1932-1932
• Caleb V. S. Rea, 1933-1933
• J. K. Nunn, 1934-1935

Cashiers:

• George Roe, 1865-1872
• Robert A. Cole, 1873-1905
• Henry Warren Whipple, 1906-1919
• Howard Klotz, 1920-1932
• William M. Wisham, 1933-1935

Other Known Bank Note Signers

• No other known bank note signers for this bank

Bank Note History Links

• Hackettstown National Bank, Hackettstown, NJ History (NB Lookup)
• New Jersey Bank Note History (BNH Wiki)

Sources

• Hackettstown, NJ, 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