Holyoke National Bank, Holyoke, MA (Charter 1939)

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The Holyoke National Bank on the corner of High and Dwight Streets circa 2021.
The Holyoke National Bank on the corner of High and Dwight Streets circa 2021. Courtesy of Google Maps

Holyoke National Bank, Holyoke, MA (Chartered 1872 - Open past 1935)

Town History

The corner of High and Dwight Streets circa 1940.  The building in the upper part of the picture housed the Holyoke National Bank.  The old Marble Building in the lower right corner was where W.T. Grant's was located. The Ball and Treworgy block was put up in the early 1870s for Charles Ball, druggist, and William Treworgy, grocer.  The Holyoke National Bank, which had been operating at 199 High Street, bought the building around 1911 after Ball's death.
The corner of High and Dwight Streets circa 1940.  The building in the upper part of the picture housed the Holyoke National Bank.  The old Marble Building in the lower right corner was where W.T. Grant's was located. The Ball and Treworgy block was put up in the early 1870s for Charles Ball, druggist, and William Treworgy, grocer.  The Holyoke National Bank, which had been operating at 199 High Street, bought the building around 1911 after Ball's death.
An unsuspecting bank robber was caught in a 'classic pose' by an automatic camera tripped by an official of the Holyoke National Bank branch on Main Street on November 18, 1968, while he and an accomplice were holding up the bank.  The gunmen netted nearly $7,000
An unsuspecting bank robber was caught in a 'classic pose' by an automatic camera tripped by an official of the Holyoke National Bank branch on Main Street on November 18, 1968, while he and an accomplice were holding up the bank.  The gunmen netted nearly $7,000.

Holyoke is a city in Hampden County, Massachusetts, that lies between the western bank of the Connecticut River and the Mount Tom Range. Located 8 miles north of Springfield, Holyoke is part of the Springfield Metropolitan Area, one of the two distinct metropolitan areas in Massachusetts. As of the 2020 census, the city had a population of 38,238. The area was named for an early Springfield settler, Elizur Holyoke, who had first explored the area in the 1650s. Following land acquisitions and development by the Hadley Falls Company, the town of Holyoke was officially incorporated on March 14, 1850. Holyoke's population rose from just under 5,000 in 1860 to over 60,000 in 1920.

Holyoke is among the early planned industrial cities in the United States. Built in tandem with the Holyoke Dam to utilize the water power of Hadley Falls, it is one of a handful of cities in New England built on the grid plan. During the late 19th century the city produced an estimated 80% of the writing paper used in the United States and was home to the largest paper mill architectural firm in the country, as well as the largest paper, silk, and alpaca wool mills in the world. Although a considerably smaller number of businesses in Holyoke work in the paper industry today, it is still commonly referred to as "The Paper City". Today the city contains a number of specialty manufacturing companies, as well as the Massachusetts Green High Performance Computing Center, an intercollegiate research facility which opened in 2012. Holyoke is also home to the Volleyball Hall of Fame and known as the "Birthplace of Volleyball", as the internationally played Olympic sport was invented and first played at the local YMCA chapter by William G. Morgan in 1895.

While managing the Holyoke Testing Flume in the 1880s, hydraulic engineer Clemens Herschel invented the Venturi meter to determine the water use of individual mills in the Holyoke Canal System. This device, the first accurate means of measuring large-scale flows, is widely used in a number of engineering applications today, including waterworks and carburetors, as well as aviation instrumentation. Powered by these municipally-owned canals, Holyoke has among the lowest electricity costs in the Commonwealth, and as of 2016 between 85% and 90% of the city's energy was carbon neutral, with administrative goals in place to reach 100% in the future.

Holyoke had five National Banks chartered during the Bank Note Era, and all five of those banks issued National Bank Notes.

Bank History

  • Organized February 8, 1872
  • Chartered February 19, 1872
  • Bank was Open past 1935
  • Acquired by First National Boston Corporation in November 1973

On Tuesday, January 12, 1886, stockholders at the annual election chose the following board of directors: William Whiting, R.B. Johnson, James F. Allyn, William Nash, Levi Perkins, C.H. Heywood, and George W. Prentiss.

On Tuesday, January 14, 1890, stockholders at the annual election chose the following board of directors: Geo. W. Prentiss, James F. Allyn, Levi Perkins, J.L. Burlingame, R.B. Johnson, William Nash, and C.H. Heywood.

On Monday, January 15, 1900, the directors organized with these officers: George W. Prentiss, president, and Robert Russell, vice president. It was expected that George C. Gill would be elected president, but as Mr. Prentiss was willing to hold the office for a while at least, Mr. Gill withdrew in Mr. Prentiss's favor.

On Tuesday, January 10, 1911, Dwight H. Ives who was elected vice president of the Holyoke National bank succeeding the late Charles E. Ball, resigned as vice president of the Holyoke Savings Bank. Mr. Ives was elected vice president of the savings bank when Robert Russell was made president. The directors elected were George C. Gill, Dwight H. Ives, Howard F. Metcalf, A.A. Coburn, and W.G. Twing. Mr. Ball's place was not filled. The board organized with George C. Gill as president and Mr. Ives as vice president. W.G. Twing was appointed cashier for about the 32nd time.

In December 1945, the Holyoke National Bank offered to buy the business of the Morris Plan Banking Co. of Holyoke. Morris Plan stockholders were expected to realize $200 a share. Recent sales were $35 a share. Robert H. Marshall, Morris Plan treasurer, transferred to the Holyoke National as personal loan officer. Frederick S. Webber, president and found of Morris Plan 30 years ago retired. Morris headquarters were at 271 Maple Street.

In January 1968, the officers were Lewis E. Gilman, president; William C. Butterfield, vice president and trust officer; Donald P. Cooke, James C. O'Connell, John F. Kennedy, and Donald C. Miller, vice presidents; Armand F. Le Blanc, cashier; Raymond C. Stebler, assistant cashier and assistant trust officer; Gerald F. Castor, assistant cashier; Alan W. Niesner, auditor; and Douglass A. Wilkinson, special consultant. The directors were Howard H. Allen, president, Nonatuck Manufacturing Co.; Dr. Romeo P. Charest, dentist; Donald P. Cooke, vice president; Russell L. Davenport, attorney-at-law and honorary trustee, Peoples Savings Bank; Frank N. Fowler, president, Hampden Glazed Paper & Card Co., Inc.; Lewis E. Gilman, president; Edward D. Hallisey, director, City Co-operative Bank; Herbert Hano, chairman of the board, Philip Hano Co., Inc.; Alton B. Hughes, asst. secretary, National Blank Book Co.; Robert H. Russell, president, J. Russell & Co., Inc.; Elmer C. Tucker, president, Holyoke Co-operative Bank; and Edward P. White, vice president, Holyoke Savings Bank. The head office was on the corner of High and Dwight Streets with the Main Street Branch between Appleton and Cabot Streets; Highland Branch on Lincoln Street; and the Willimansett Branch on Chicopee Street at the "Y". The bank had total assets of $25,715,512.89.

Holyoke detectives assisted by FBI agents were searching the East Coast for two men who robbed the Main Street Branch of the Holyoke National Bank of over $7,000. On November 18, 1968, A silent ADT holdup alarm triggered by a bank cashier caught pictures of two gunmen and responses were pouring in from all over New England in connection with pictures printed in newspapers and other news media. The men were armed, one with a sawed-off shot gun and the other with a hand gun, were last seen walking through a municipal parking lot near the bank. The gunmen held fiver persons including a three-year-old girl captive while one filled up a bag with $20s, $20s, and $5s. Police indicated the men appeared to know exactly what they were doing.

On February 7, 1973, two men dressed as messengers held up the main branch of the Holyoke National Bank and escaped with $297,000. The men stole sacks of cash waiting distribution to savings banks by Brinks armed guards. The robbers produced guns and one leaped a counter and grabbed the waiting money while the other held a gun to the head of a teller, according to Armand Leblanc, a bank cashier. The two ran out and escaped in a waiting car driven by a third man. Police reported the trio ditched the car three blocks away and maid off in another waiting vehicle. The bank was directly across the street from City Hall and just one block from police headquarters. 

In 1974, there were six big bank holding companies in Massachusetts, with First National Boston Corporation by far the largest in terms of deposits, assets, and member banks held. There were 22 other smaller holding companies in the Bay State.  The six largest were First National Boston Corp., Shawmut Assn. Inc., Baystate Corp., State Street Boston Financial Corp., New England Merchants Co., and Multibank Financial Corp.  First National Boston held First National Bank of Boston, Burlington Bank and Trust, Holyoke National Bank, and First Bank and Trust of Wellesley.
An Old Colony Bank logo from 1979
Old Colony Bank logo from 1979.

On Tuesday, February 3, 1976, the merger of Old Colony Bank of Hampden County, N.A., Holyoke, and the Heritage Bank and Trust Company, Westfield became effective. The Old Colony president was William D. Coakley. The Heritage head office and a branch of that institution also in Westfield would operate as branch offices of Old Colony, bringing to 10 the number of offices in the Old Colony system. Old Colony of Hampden County, whose name was changed from Holyoke National Bank last September was a subsidiary of First National Boston Corporation, a multibank holding company anchored by The First National Bank of Boston. The Boston bank was New England's oldest and largest. Old Colony with three branch offices in Holyoke and one in the Willimansett section of Chicopee was acquired by First National Boston Corporation in November 1973. In May 1975, Old Colony acquired the facilities of Chicopee Bank and Trust Co. and its branch in downtown Springfield. Last November, Old Colony opened an office in the Fairview section of Chicopee and it planned to open another office in East Springfield later in the year.

Official Bank Titles

1: The Holyoke National Bank, Holyoke, MA

2: Holyoke National Bank, Holyoke, MA [2/9/1912]

Bank Note Types Issued

Series of 1875 $2 bank note with pen signatures of W. Simons, Cashier and William Whiting, President.
Series of 1875 $2 bank note with pen signatures of W. Simons, Cashier and William Whiting, President. Courtesy of Heritage Auctions, www.ha.com
Series of 1875 $2 bank note with p1882 Brown Back $10 bank note with pen signature of William G. Twing, Cashier.en signatures of W. Simons, Cashier and William Whiting, President.
1882 Brown Back $10 bank note with pen signature of William G. Twing, Cashier. Courtesy of Heritage Auctions, www.ha.com
1902 Date Back $5 bank note with pen signatures of H.A. Allen, Cashier and George C. Gill, President.
1902 Date Back $5 bank note with pen signatures of H.A. Allen, Cashier and George C. Gill, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $5 bank note with printed signatures of Dudley S. Silsby, Cashier and James H. Wakelin, President
1929 Type 1 $5 bank note with printed signatures of Dudley S. Silsby, Cashier and James H. Wakelin, President. Courtesy of Heritage Auctions, www.ha.com

A total of $5,167,500 in National Bank Notes was issued by this bank between 1872 and 1935. This consisted of a total of 631,044 notes (535,056 large size and 95,988 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 - 2400
1: Original Series 4x5 1 - 2650
1: Original Series 3x10-20 1 - 1900
1: Original Series 50-100 1 - 100
1: Series 1875 3x1-2 1 - 5000
1: Series 1875 4x5 1 - 9500
1: Series 1875 3x10-20 1 - 8047
1: 1882 Brown Back 4x5 1 - 1500
1: 1882 Brown Back 3x10-20 1 - 10800 Two plates; the ABCA plate has $10s with the abnormal border variety
1: 1882 Brown Back 50-100 1 - 600
1: 1882 Date Back 4x5 1 - 5115
1: 1882 Date Back 3x10-20 1 - 3107
1: 1882 Date Back 50-100 1 - 200
2: 1902 Date Back 4x5 1 - 10000
2: 1902 Date Back 3x10-20 1 - 7600
2: 1902 Plain Back 4x5 10001 - 49755
2: 1902 Plain Back 3x10-20 7601 - 33540
2: 1929 Type 1 6x5 1 - 7452
2: 1929 Type 1 6x10 1 - 4062
2: 1929 Type 1 6x20 1 - 1100
2: 1929 Type 2 5 1 - 12528
2: 1929 Type 2 10 1 - 6204
2: 1929 Type 2 20 1 - 1572

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1872 - 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

  • Holyoke, MA, 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
  • Transcript-Telegram, Holyoke, MA, Tue., Jan. 12, 1886.
  • Transcript-Telegram, Holyoke, MA, Tue., Jan. 14, 1890.
  • Transcript-Telegram, Holyoke, MA, Mon., Jan. 15, 1900.
  • Transcript-Telegram, Holyoke, MA, Tue., Jan. 10, 1911.
  • Transcript-Telegram, Holyoke, MA, Fri., Jan. 13, 1911.
  • Transcript-Telegram, Holyoke, MA, Tue., Dec. 18, 1945.
  • Transcript-Telegram, Holyoke, MA, Fri., Jan. 12, 1968.
  • Transcript-Telegram, Holyoke, MA, Wed., Nov. 20, 1968.
  • The Boston Globe, Boston, MA, Wed., Nov. 20, 1968.
  • Transcript-Telegram, Holyoke, MA, Tue., Dec. 31, 1968.
  • North Adams Transcript, North Adams, MA, Wed., Feb. 7, 1973.
  • The Boston Globe, Boston, MA, Wed., Feb. 13, 1974.
  • Transcript-Telegram, Holyoke, MA, Mon., Feb. 2, 1976.
  • Transcript-Telegram, Holyoke, MA, Mon., Nov. 13, 1989.
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