Hartford National Bank/Hartford-Aetna NB/Hartford NB & TC, Hartford, CT (Charter 1338)

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The main banking room of the Hartford National Bank in 1913.
The main banking room of the Hartford National Bank in 1913.

Hartford National Bank/Hartford-Aetna NB/Hartford NB & TC, Hartford, CT (Chartered 1865 - Closed (Merger) 2000)

Town History

Hartford National Bank's new building occupied in 1912 on the corner of Main and Asylum Streets, Hartford, Connecticut. Donn Barber was the Architect.
Hartford National Bank's new building occupied in 1912 on the corner of Main and Asylum Streets, Hartford, Connecticut. Donn Barber was the Architect.

Hartford is the capital city of the U.S. state of Connecticut. It was the seat of Hartford County until Connecticut disbanded county government in 1960. It is the core city in the Greater Hartford metropolitan area. Census estimates since the 2010 United States census have indicated that Hartford is the fourth-largest city in Connecticut with a 2020 population of 121,054, behind the coastal cities of Bridgeport, New Haven, and Stamford.

Hartford was founded in 1635 and is among the oldest cities in the United States. It is home to the country's oldest public art museum (Wadsworth Atheneum), the oldest publicly funded park (Bushnell Park), the oldest continuously published newspaper (the Hartford Courant), and the second-oldest secondary school (Hartford Public High School). It is also home to the Mark Twain House, where the author wrote his most famous works and raised his family, among other historically significant sites. Mark Twain wrote in 1868, "Of all the beautiful towns it has been my fortune to see this is the chief."

Nicknamed the "Insurance Capital of the World", Hartford is home to the headquarters of many insurance companies, the region's major industry.

Hartford had 12 National Banks chartered during the Bank Note Era, and all 12 of those banks issued National Bank Notes. Hartford also had 14 Obsolete Banks that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).

Bank History

The Hartford Bank, Haxby CT-165, obsolete $5 engraved by Danforth, Wright & Co. and signed by James Bolter, Cashier and H.A. Perkins, President. At the top center is wide and ornately engraved vignette of the American School for the Deaf building and grounds in Hartford. A portrait of founder Thomas H. Gallaudet at bottom right.
The Hartford Bank, Haxby CT-165, obsolete $5 engraved by Danforth, Wright & Co. and signed by James Bolter, Cashier and H.A. Perkins, President. At the top center is wide and ornately engraved vignette of the American School for the Deaf building and grounds in Hartford. A portrait of founder Thomas H. Gallaudet at bottom right. Courtesy of Heritage Auctions, www.ha.com
Directors Room, Hartford National Bank ca1913.
Directors Room, Hartford National Bank ca1913.
  • Organized June 13, 1865
  • Chartered June 24, 1865
  • Succeeded Hartford Bank
  • 1: Absorbed 1321 April 9, 1910 (Farmers and Mechanics NB, Hartford, CT)
  • 1: Assumed 756 by consolidation April 26, 1915 (Aetna National Bank, Hartford, CT)
  • 1: Assumed its circulation, title change to 2: Hartford-Aetna National Bank
  • 2: Assumed United States Security Trust Company with title change to 3: Hartford National Bank and Trust Company on May 21, 1927
  • 3: Assumed The Bankers Trust Company, Hartford by consolidation on December 9, 1933
  • Bank was Open past 1935
  • For Bank History after 1935 see FDIC Bank History website
  • Merged into BankBoston, N.A. in Boston, MA, March 1, 2000

Founded in 1792 after the Revolutionary War, the Hartford Bank was the fifth oldest in United States and would grow to one of the largest banks in New England. Preliminary steps toward organization of Hartford's first bank were taken within three years after George Washington took office as President of the United States. The proposal to petition the Connecticut General Assembly for the establishment of a bank was announced in an advertisement in The Courant of February 27, 1792. A month or two later, a definite plan had been prepared and Major John Caldwell, Major Barnabas Deane and John Morgan were named a committee to open the books for subscriptions. John Trumbull, Chauncy Goodrich and Noah Webster were named a committee to prepare and present the petition to the Legislature, which was subsequently approved by that body. The first board of directors included Colonel Jeremiah Wadsworth, General George Phillips, General Timothy Burr, James Watson, Caleb Bull and Ephraim Root, as well as Major Caldwell, who was chosen as president, Major Deane and John Morgan. Hezekiah Merrill was appointed cashier and on Wednesday, August 8, 1792, the doors were opened for business. At the time the bank was established, the population of the entire township of Hartford, then extending westward to Farmington, was less than 5,000. Income was derived chiefly from agriculture and trade with the West Indies. Manufacturing was primitive and of relatively little importance. Insurance was scarcely known. Only four state banks were then in existence in the country: the Bank of North America in Philadelphia, the Bank of New York, the Bank of Massachusetts in Boston, and the Providence Bank.

In 1819, General Nathaniel Terry succeeded Major Caldwell as president, holding office until 1828, when Joseph Trumbull, grandson of Jonathan Trumbull, the first Governor of the state, became president. Shortly afterward, Henry A. Perkins was elected as cashier, a post which he filled so conscientiously that for 33 years he was not absent from his desk for a single day either for sickness or recreation. In 1839, David P. Robinson was chosen as the bank's fourth president, holding office until 1853 when the faithful Henry A. Perkins was promoted to the presidency. Through the difficult period that included the Civil War and the "greenback" inflation, his puritan virtues stood the bank in good stead until his death in 1874 after 46 years as an officer of the institution. In May 1857, George Ripley, cashier of the Greenfield Bank, Greenfield, Mass., was appointed cashier in place of A.G. Hammond, resigned. 

In its early days, "the old Hartford bank" was located on the south side of Pearl Street near Main. The front door was divided into two parts, horizontally. Both halves were sheathed with iron plates and secured by heavy bars. The chest was kept in a subterranean vault covered by a massive door which was raised and lowered by a pulley. On October 26, 1811, the bank moved into the 'Greek Temple' quarters at 58 State Street, which was its home for more than a century until the expansion of business resulted in removal in 1912 to the corner of Main and Asylum Streets. Following the merger in 1927 with the United States Security Trust Company, the bank found itself with two excellent locations. It was decided to use the building at Main and Pearl streets, but temporarily the bank occupied the location at Main and Asylum streets. The officers were meanwhile giving attention to plans for a completely modern and efficient bank which resulted in December 1928 in the return of the bank to the spacious and attractive quarters at the corner of Main and Pearl Streets.

In September 1900, the officers were James Bolter, President; Harold W. Stevens, Vice President; W.S. Bridgman, 2d Vice President; Frank P. Furlong, Cashier and W.S. Andrews, Assistant Cashier. The bank had capital $1,200,000, surplus $600,000 and deposits $3,000,000. On September 20, Mr. Stevens, formerly of Northampton, was elected president succeeding the late James Bolter. He had been vice president of the Harford National since January 1899. Prior to coming to Hartford, he was cashier of the Northampton National Bank for four years and before Northampton he was with the National Bank of the Republic in Boston for several years.

In January 1910, the directors were Henry C. Judd, Pliny Jewell, Ralph H. Ensign, DeWitt C. Skilton, Charles E. Chase, George A. Gay, Harold W. Stevens, Edward B. Hatch, John B. Lunger, Everett J. Lake. The officers were Harold W. Stevens, President; Frank P. Furlong, Cashier; and W.S. Andrews, Assistant Cashier.

During the presidency of Harold W. Stevens, the bank in 1910 took over the Farmer's & Mechanics' Bank, another old Hartford institution which had been established in 1833. Mr. Stevens opened negotiations for the first of three other important mergers through which "the old Hartford Bank" advanced to new heights of service and prestige. These negotiations, completed in 1915 when Charles E. Chase was president, resulted in consolidation with the Aetna National Bank, to form the Hartford-Aetna National Bank. Mr. Chase became chairman of the board and Alfred Spencer, Jr., who had been president of the Aetna bank since 1899, was elected president of the Hartford-Aetna. Eleven years later in 1926, Mr. Spencer became chairman of the board and Henry T. Holt was elected president. In the following year the second of the important mergers took place. This was the consolidation of the United States Security Trust Company, which resulted in the title change to the Hartford National Bank and Trust Company approved by the Comptroller of the Currency on May 21, 1927. John O. Enders, who had been head of the trust company, became chairman of the board of the Hartford National Bank & Trust Company, Alfred Spencer, Jr., was elected as chairman of the executive committee and Henry T. Holt as vice chairman of the board. Francis Parsons, former vice president of the United States Security Trust Company, also became a vice chairman of the board and active head of the trust department; and Robert B. Newell was elected as president. 

The United States Security Trust Company was the outgrowth of a merger of three principal banks:  the United States Bank, the Security Trust Company and The Fidelity Trust Company brought together as one bank and opening on February 13, 1923.  The United States Bank was originally known as the States Trust Company and began in the old Charter Oak Life Insurance Company building.  Morgan G. Bulkeley was its first president.  Its name was changed in 1882.  Security Trust Company was incorporated in 1868 as the Charter Oak Trust Company.  Robert E. Day was the first president.  It was located at No. 272 Main Street, then at No. 62 Pearl Street and finally at No. 56 Pearl.  The Fidelity Trust Company was chartered in 1885 as the Fidelity Company.  Chauncey Howard was the first president.  It was located at No. 25 Pearl Street.  In 1907 the name was changed to the Fidelity Trust Company.  In June 1925, The United States Security Trust Co. bought the Connecticut Mutual Life Insurance Co. building, paying $2,365,000 in cash, a record for Hartford at the time.

Despite economic difficulties, such as the unusually long and severe business depression of the 1930's, the late 1920s to early 1940s witnessed the greatest growth of any period in the long history of "the old Hartford Bank." Much of the progress during these years was the result of the outstanding executive abilities of John O. Enders who served actively in the direction of the bank's affairs as chairman of the board until 1935, when he resigned to become chairman of the executive committee. Upon Mr. Enders' resignation as chairman of the board, full responsibility as executive head of the institution was assumed by Mr. Robert B. Newell, who had been president since 1927.

In January 1931, the directors elected were: Samuel G. Dunham, John O. Enders, Charles E. Chase, Charles P. Cooley, D. Newton Barney, George A. Gay, A. Spencer, Jr., Morgan B. Brainard, E.J. Lake, W.E.A. Bulkeley, W.R.C. Corson, Francis Parsons, George G. Williams, Charles Welles Gross, Frank L. Wilcox, Charles G. Woodward, Henry H. Goodwin, Sidney W. Crofut, Philip B. Gale, Dr. G.C.F. Williams, George H. Stoughton, Samuel Ferguson, Joseph R. Ensign, Robert B. Newell, Charles F.T. Seaverns, Samuel P. Williams, George B. Stevenson, M.S. Little, Robert Darling, Henry T. Holt, Ralph B. Ives, James H. Brewster, George C. Long, Jr., Richard H. Cole, Robert C. Glazier, Francis W. Cole, Frederick B. Rentschler, and Porter B. Chase. The officers elected were John O. Enders, chairman of the board of directors; Alfred Spencer, Jr. chairman of executive committee; Henry T. Holt and Francis Parsons, vice chairmen; Robert B. Newell, president; Thomas A. Shannon, A.G. Brainard, George F. Kane, William H. Rowley, E.M. Crampton, and Roland J. Utley, vice presidents; Herbert F. Hubbard, cashier; W.S. Andrews, D.W. Hubbard, Winfred B. Dimon, H. Spencer, E.W. Outrim, F.R. Coles, Ostrom Enders, Christopher F. Molloy, and Clayton B. Parker, assistant cashiers; Robert D. Chapin, secretary; Frank T. Peck, auditor; Maynard T. Hazen, trust department; Alec G. Stronach, trust officer; Arthur M. Bunce, Harold C. Bailey, T.L. Bestor, W.B. Dana, Philip H. Graham and Alfred B. Roch, associate trust officers; and W.C. MacDonough, assistant secretary. Reported earnings were $722,000 or $1.85 per share on stock of $10 par. Dividends paid amounted to $560,000 and undivided profits were increased $162,469, the later being 4.5% on the capital. Average deposits gained $608,000 with depositors numbering just over 10,000. Book value of trusts as of December 31, 1930 was $90,736,840, a net increase of $11,640,740. Roland J. Utley was promoted from cashier to vice president. He began his banking career at the Fidelity Trust Co. in 1912. Herbert F. Hubbard who succeeded Mr. Utley began his banking career at the Security Trust Co. continuing through the various mergers. Ostrom Enders, son of John O. Enders, engaged in banking after graduation from Yale in 1925, entering the United States Security Trust Co. Christopher F. Molloy, a native of Hartford, entered the employ of the Aetna National Bank in December 1910. Clayton B. Parker began his banking career in April 1913 at the Hartford National Bank.[1] 

In December 1933, the third of the important mergers mentioned above was that in which the Hartford National Bank and Trust Company acquired the assets of the Bankers Trust Company, whose former building became the Farmington Avenue branch of the bank. The Bankers Trust Company was organized in November 1924, with Morgan B. Brainard as president. Mr. Newell, one of the founders of the institution, became a trustee and the first secretary. In 1926, Mr. Brainard was elected chairman of the board and Porter B. Chase became president. Through the Hartford National Company, the Hartford National Bank & Trust Company acquired the Bankers Trust during 1930, and in 1931 John O. Enders was elected as chairman of the board, Morgan B. Brainard chairman of the executive committee and Mr. Newell president. In December of 1933, the trust company was merged with the Hartford National Bank & Trust Company through acquisition of its assets.

The year of 1942 marked an anniversary for Mr. Newell, as well as the great institution of which he was chief executive, since it was 40 years ago that he entered upon his banking career following graduation from Wesleyan University in 1902. He began with the Phoenix National Bank, then became associated with the state bank from 1903 to 1907, and was with the State Savings Bank for the succeeding ten years. In 1917 he became vice president of the Fidelity Trust Company, then vice president of the United States Security Trust Company, which was formed through merger of the United States Bank, the Security Trust Company, and the Fidelity Trust Company. He was subsequently promoted to the presidency of the United States Security Trust Company, which position he held at the time of the merger whereby the name of "the old Hartford bank" became the Hartford National Bank & Trust Company.

In 1942, the officers were Newell, president; Ostrom Enders, first vice president; George F. Kane, A.G. Brainerd, Herbert Hubbard, R.J. Utley, and Louis P. Merriman, vice presidents; G.W. Guillard, cashier; M.T. Hazen, vice president in charge of the trust department; A.G. Stronach and W.B. Dana, vice president and trust officers; and M.H. Glover, vice president in the trust department. Directors of the bank were as follows: John O. Enders, Charles P. Cooley, Morgan B. Brainard, William E.A. Bulkeley, William R.C. Corson, Charles Welles Gross, Charles G. Woodward, Philip B. Gale, Samuel Ferguson, Robert B. Newell, Charles F.T. Seaverns, Samuel P. Williams, James H. Brewster, Jr., George C. Long, Jr., Richard H. Cole, Robert C. Glazier, Francis W. Cole, Frederick B. Rentschler, M. Clark Terrill, George L. Burnham, Graham H. Anthony, Austin D. Barney, Eugene E. Wilson, Maynard T. Hazen, and Ostrom Enders.

Official Bank Title(s)

1: The Hartford National Bank, Hartford, CT

2: The Hartford-Aetna National Bank (5/28/1915), Hartford, CT

3: Hartford National Bank and Trust Company (5/21/1927), Hartford, CT

Bank Note Types Issued

Original Series $1 bank note with pen signatures of James Bolter, Cashier and H.A. Perkins, President.
Original Series $1 bank note with pen signatures of James Bolter, Cashier and H.A. Perkins, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
Original Series $2 bank note with pen signatures of W.S. Bridgman, Cashier and James Bolter, President.
Original Series $2 bank note with pen signatures of W.S. Bridgman, Cashier and James Bolter, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1902 Red Seal $5 bank note with printed signatures of F.P. Furlong, Cashier and H.W. Stevens, President.
1902 Red Seal $5 bank note with printed signatures of F.P. Furlong, Cashier and H.W. Stevens, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1902 Plain Back $20 bank note with printed signatures of A.G. Brainerd, Cashier and A. Spencer, Jr., President.
1902 Plain Back $20 bank note with printed signatures of A.G. Brainerd, Cashier and A. Spencer, Jr., President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1929 Type 2 $5 bank note with printed signatures of Ostrom Enders, Cashier and R.B. Newell, President.
1929 Type 2 $5 bank note with printed signatures of Ostrom Enders, Cashier and R.B. Newell, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

A total of $22,411,790 in National Bank Notes was issued by this bank between 1865 and 1935. This consisted of a total of 2,924,218 notes (2,466,400 large size and 457,818 small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type Sheet/Denoms Serial#s Sheet Comments
1: Original Series 3x1-2 1 - 17050
1: Original Series 4x5 1 - 10500
1: Original Series 3x10-20 1 - 8812
1: Original Series 3x50-100 1 - 1040
1: Series 1875 4x5 1 - 8520
1: Series 1875 3x10-20 1 - 2942
1: 1882 Brown Back 4x5 1 - 15149
1: 1882 Brown Back 3x10-20 1 - 6867
1: 1902 Red Seal 4x5 1 - 27000
1: 1902 Red Seal 4x10 1 - 8500
1: 1902 Red Seal 3x10-20 1 - 8700
1: 1902 Date Back 4x5 1 - 65075
1: 1902 Date Back 4x10 1 - 61047
1: 1902 Date Back 3x10-20 1 - 4000
2: 1902 Plain Back 4x5 1 - 220555
2: 1902 Plain Back 3x10-20 1 - 110685
3: 1902 Plain Back 4x5 1 - 15015
3: 1902 Plain Back 3x10-20 1 - 25143
3: 1929 Type 1 6x5 1 - 34194
3: 1929 Type 1 6x10 1 - 20794
3: 1929 Type 1 6x20 1 - 5854
3: 1929 Type 2 5 1 - 57250
3: 1929 Type 2 10 1 - 28158
3: 1929 Type 2 20 1 - 7358

Bank Presidents and Cashiers

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

Presidents:

Cashiers:

Other Bank Note Signers

  • There are currently no known Vice President or Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

  • Hartford, CT, 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
  • The Bankers' Magazine, Vol. 86, Jan. 1913-June 1913, pp 211-216.
  • Greenfield Democrat, Greenfield, MA, Mon., May 25, 1857.
  • Hartford Courant, Hartford, CT, Wed., Sep. 12, 1900.
  • Transcript-Telegram, Holyoke, MA, Thu., Sep. 20, 1900.
  • Hartford Courant, Hartford, CT, Wed., Jan. 12, 1910.
  • Hartford Courant, Hartford, CT, Sat., Jan. 9, 1915.
  • Hartford Courant, Hartford, CT, Fri., May 20, 1927.
  • Hartford Courant, Hartford, CT, Sun., June 14, 1942.
  1. ↑ Hartford Courant, Hartford, CT, Wed., Jan. 14, 1931.
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