Hyde Park National Bank, Scranton, PA (Charter 13225)
Hyde Park National Bank (No Issue), Scranton, PA (Chartered 1928 - Liquidated 1932)
Town History
Scranton is a city in and the county seat of Lackawanna County, Pennsylvania. With a population of 76,328 as of the 2020 U.S. census, Scranton is the most populous city in Northeastern Pennsylvania and the Wyoming Valley metropolitan area, which has a population of 562,037 as of 2020. It is the sixth-most populous city in Pennsylvania. In 1920, the population of Scranton was 137,783, peaking in 1930 at 143,433.
Scranton is the largest of the former anthracite coal mining communities in a contiguous quilt-work that also includes Wilkes-Barre, Nanticoke, Pittston and Carbondale. It became a major industrial city and a center of mining and railroads; it attracted thousands of new immigrants. In 1856, the borough of Scranton was officially incorporated. It was incorporated as a city of 35,000 in 1866 in Luzerne County, when the surrounding boroughs of Hyde Park (now part of the city's West Side) and Providence (now part of North Scranton) were merged with Scranton. Twelve years later in 1878, the state passed a law enabling creation of new counties where a county's population surpassed 150,000, as did Luzerne's. The law appeared to enable the creation of Lackawanna County, and there was considerable political agitation around the authorizing process. Scranton was designated by the state legislature as the county seat of the newly formed county, which was also established as a separate judicial district, with state judges moving over from Luzerne County after courts were organized in October 1878. This was the last county in the state to be organized.
Scranton had 10 National Banks chartered during the Bank Note Era, and eight of those banks issued National Bank Notes.
Bank History
- Organized June 27, 1928
- Chartered August 1, 1928
- Non-issuing
- Conversion of The Hyde Park Deposit Bank, Scranton, PA
- Succeeded by the Pennsylvania Trust Company of Scranton
- Liquidated January 12, 1932
Hyde Park Deposit Bank
On June 26, 1923, application for a charter was made for the Hyde Park Deposit Bank to be located in the City of Scranton. The applicants were John Durkan, Gomer C. Davis, Charles Leber, Louis Capute, John Androwski, Harry C. Hood, Eugene Deckeinick, Thomas R. Davis, John Lloyd, and others.[4] The Hyde Park Deposit Bank opened on Tuesday, September 4, at 9 a.m. The new bank was incorporated with an authorized capital stock of $75,000 and a surplus of $15,000. The stock was distributed among 230 stockholders making it essentially a people's bank, beginning its career with the slogan, "A bank of the people, by the people, for the people." The large, spacious banking rooms were located at 344 South Main Avenue. The interior and exterior had been thoroughly renovated, the interior being tastefully decorated in mahogany and white, with marble trim. Two large safes had been installed, set in thick walls of solid cement. Gomer C. Davis, formerly clerk of the courts, was president of the new bank. There were three vice presidents: George W. Thomas, engaged in the insurance and real estate business; Henry Geiss, foreman of the Dodge mines; and John T. Davies, real estate and insurance. The secretary was Charles Leber on the editorial staff of the International Correspondence Schools and a prominent educator. E.A. Cruttenden who had been secretary of a flourishing and successful building and loan association and head of the commercial department of the Technical High School, was treasurer. Walter L. Schanz was the attorney for the bank. The other directors were Andrew J. Muir, florist; Martin A. O'Toole, coal operator; Thomas D. Davis, theater owner; William J. Vanston, funeral director; T.J. Nolan, coal operator; Arthur Zimmerman, plumbing contractor; Edward Ross, auditor, D.L. & W.; Clarence Bean, chief electrician, D.L. & W.; John R. Jones, teacher; William J. Townsend, foreman, Archbald mines; Eugene Dechelnick, merchant; Saul Jones, rock contractor; John J. Ostyn, salesman; A.J. Nereika, funeral director; John Lloyd, foreman; and Martin F. Gramigna, editor. Henry T. Harris, formerly of the Third National Bank was cashier.[5]
BABE RUTH DEPOSITS $5,000 IN WEST SCRANTON'S NEW BANK. On Thursday, October 25, 1923, to show his appreciation of the treatment he received here and of the faith he has in Scranton's future, Babe Ruth, home run king, made a deposit of $5,000 in Scranton's baby banking institution, the Hyde Park Deposit Bank, before he left for Mahanoy City. The "King of Swat" went on a tour of inspection of the new bank yesterday morning with Robert Nolan, one of the bank directors and a close friend of the Babe's. Before he left Ruth made his deposit. The Hyde Park Deposit Bank, although less than two months old had increased its deposits from $105,000 to $135,000.[6]
On Saturday, January 31, 1925, the residents of West Scranton had an opportunity to inspect a monument to progress and enterprise when the handsome new home of the Hyde Park Deposit Bank Opened for business. The building had a front of 40 feet on South Main Avenue with a depth of 44 feet. It was four stories in height and constructed of cut stone. Large electric bracket lamps of the craftsman's design adorned the entrance and at night lent a beautiful appearance to the building. The building was designed by Morris & McHale and was built by A.N. Serfass, general contractor, at a cost of more than $65,000.The officers were Gomer C. Davis, president; John T. Davies and Henry Geiss, vice presidents; Charles Leber, secretary; Walter L. Schantz, attorney; and Henry T. Harris, cashier.[7]
Hyde Park National Bank
On Wednesday, August 1, 1928, a telegram received by H.T Harris, cashier, from E.W. Stearns, acting comptroller of the currency, contained the information that the charter was in the mail and directed that the bank be changed to a national bank at once. The Hyde Park National Bank held the distinction of being the first and only national bank in West Scranton. The bank had a capital stock of $125,000 with surplus and unpaid dividends amounting to $100,303.28. Several months earlier stockholders of the bank decided to apply for a charter for a national bank. Sheriff Gomer C. Davis was president.[8]
On Tuesday, January 8, 1929, officers and directors were re-elected as follows: Directors, Gomer C. Davis, Hugh J. Evans, Henry Geiss, H.T. Harris, John R. Jones, Antohny Kabachinski, Harry Klein, Peter A. McHugh, Thomas E. Prince, Walter L. Schanz, William J. Townsend, Eugene L. Vosbury, and Arthur Zimmerman. The officers were Gomer Davis, president; Henry Geiss, Eugene L. Vosbury, and Henry T. Harris, vice presidents; Henry T. Harris, cashier; R.C. Bennett, assistant cashier; John R. Jones, secretary; and Walter Schanz, treasurer. The only change was that Henry T. Harris was named a vice president.[9]
On Tuesday, January 14, 1930, at the annual meeting the following officers and directors were elected: H.T. Harris, president; Eugene L. Vosbury and Henry Geiss, vice presidents; John R. Jones, secretary; R.C. Bennett, cashier; Henry Geiss, John R. Jones, Harry Klein, Peter J. McHugh, Thomas E. Price, Walter J. Schanz, W.J. Townsend, Arthur Zimmerman, Hugh J. Evans, Anthony Kabacinski, and Eugene L. Vosbury, directors.[10]
In November 1931, the officers of the Hyde Park National Bank were H.T. Harris, president; Eugene L. Vosbury, vice president; John R. Jones, secretary; R.C. Bennett, cashier. The directors were Henry Geiss, John R. Jones, Harry Klein, Peter A. McHugh, Thomas E. Price, Walter L. Schans, William J. Townsend, Arthur Zimmerman, Hugh J. Evans, Anthony Kabacinski, Eugens Vosbury, and H.T. Harris.[11]
Pennsylvania Trust Company of Scranton
On Friday, November 6, 1931, Governor Pinchot approved the charter upon recommendation of Dr. William D. Gordon, state secretary of banking. Listed as the incorporators were Charles S. Weston, William W. McCulloch, Ralph A. Gregory, Ralph A. Amerman, and State Senator John W. Howell. Officers of the new bank would be: Morgan Thomas, president; George L. Peck, vice-president; W.B. Layton, executive vice-president; Henry T. Harris, vice president and secretary; William J. Lewis, treasurer; and Wendell P. Evans, assistant treasurer. Mr. Thomas was the president of the Keystone bank, Mr. Peck of the Electric City and Mr. Harris of the Hyde Park National. The new institution would open for business Monday morning in the building of the Electric City Bank, North Main Avenue and Lafayette Street. The move was one of the most constructive steps ever taken in local banking circles, giving West Scranton, with its 45,000 population, two strong, well-organized and well-equipped banking institutions, the West Side Bank and the newly organized Pennsylvania Trust Company.
Directors of the new institution were: Ralph A. Amerman, Dime Bank-Lincoln Trust Company. Henry H. Burschel, president of the Burschel Dairy Company; P.F. Calpin, contractor; Henry Geiss, Glen Alden Coal company; Frank A. Gilroy, vice-president of the Woodlawn Farm Dairy Company; Ralph A. Gregory, president of the Third National Bank and Trust Company; David James, insurance; William McCulloch, president of the Union National Bank; John R. Jones, principal of Frances Williard School; Anthony Kabacinski, realtor; Thomas McHugh, merchant; George L. Peck, attorney-at-law; Thomas E. Price, merchant; Morgan Thomas, county commissioner and merchant; Charles S. Weston, president of the First National Bank of Scranton; J. Norman White, surgeon. The directors included the presidents of Scranton's four largest banks, C. S. Weston, W. W. McCulloch, Ralph- A. Amerman, and Ralph A. Gregory. Quarters of the new bank in the Electric City building were sufficiently adequate. The building was erected a few years ago and was modern and complete in all details, situated in the business section of West Scranton. The three banks were in excellent condition: The Electric City Bank & Trust company was listed with a capital of $125,000; a surplus of $210.000 and undivided profits of $88,000, and total resources $1,814,925.40; the Hyde Park National bank showed a similar capital and a surplus and undivided profits of $99,000, and total resources $1,100,000; the Keystone Bank's capital was also $125,000; its surplus, $125,000; undivided profits, $167,000, and total resources $2,084,573.54.
The officers and boards of directors of the institutions follow: Electric City Bank & Trust Company: president, George L. Peck; first vice-president, James B. Doyle; second vice president, D.J. Davis; cashier, W.J. Lewis; assistant cashier, F.L. Schroeder; directors, George L. Peck, David James, Thomas H. Saville, Henry H. Burschell, John L. James, James B. Doyle, D.J. Davis, F.H. Coon, George E. Nash, Richard Phillips, Frank A. Gilroy, John Evans and Thomas E. Murphy. The Keystone Bank: president Morgan Thomas; vice presidents, George B. Carson and Thomas McHugh; cashier, W.B. Layton; assistant cashier, W.P. Evans; directors, P.W. Tague, George B. Carson, William Farrell, Morgan Thomas, John R. Farr, Thomas J. McHugh, P.F. Calpin, R.J. Bourke, J.J. Brennan, Frank Hagen, Joseph P. Ryan, and J. Norman White.[13]
On November 28, 1945, the First National Bank of Scranton purchased 6,000 shares of the common capital stock of the Pennsylvania Trust Company, West Scranton, for $200,000. Dr. U.O. Noble, president of the First National said "we have absolutely no idea of closing the Pennsylvania Trust Company. We will continue it as a going bank." He said the trust company could eventually become a branch of the First National.[14] The Pennsylvania Trust Company was converted into the Hyde Park branch of the First National Bank.[15]
Official Bank Title
1: The Hyde Park National Bank of Scranton, PA
Bank Note Types Issued
No National Bank Notes were issued by this bank.
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1928 - 1932):
Presidents:
Cashiers:
Bank Note History Links
Sources
- Scranton, PA, 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 Tribune, Scranton, PA, Sat., Jan. 31, 1925.
- ↑ The Times-Tribune, Scranton, PA, Fri., Nov. 2, 1923.
- ↑ The Tribune, Scranton, PA, Wed., Dec. 18, 1929.
- ↑ The Tribune, Scranton, PA, Fri., Apr. 6, 1923.
- ↑ The Tribune, Scranton, PA, Sat., Sep. 1, 1923.
- ↑ The Times-Tribune, Scranton, PA, Fri., Oct. 26, 1923.
- ↑ The Tribune, Scranton, PA, Sat., Jan. 31, 1925.
- ↑ The Tribune, Scranton, PA, Fri., Aug. 3, 1928.
- ↑ The Times-Tribune, Scranton, PA, Wed., Jan. 9, 1929.
- ↑ The Tribune, Scranton, PA, Wed., Jan. 15, 1930.
- ↑ The Tribune, Scranton, PA, Sat., Nov. 7, 1931.
- ↑ The Tribune, Scranton, PA, Sat., Nov. 7, 1931.
- ↑ The Tribune, Scranton, PA, Sat., Nov. 7, 1931.
- ↑ The Plain Speaker, Hazleton, PA, Thu., Nov. 29, 1945.
- ↑ The Tribune, Scranton, PA, Wed., Feb. 6, 1946.