Jefferson National Bank, Charlottesville, VA (Charter 6005)

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1882 Date Back $10 bank note
1882 Date Back $10 bank note with pen signatures of Thomas P. Peyton, Cashier and Hollis Rinehart, President. Courtesy of Heritage Auctions, www.ha.com

Jefferson National Bank, Charlottesville, VA (Chartered 1901 - Liquidated 1917)

Town History

A 1911 advertisement for the Jefferson National Bank
A 1911 advertisement for the Jefferson National Bank with G.B. Sinclair, president; Hollis Rinehart, vice president; and T.P. Peyton, cashier.[1]

Charlottesville, colloquially known as C'ville, is an independent city in Virginia. It is the seat of government of Albemarle County, which surrounds the city, though the two are separate legal entities. At the 2020 census, the city's population was 46,553. In 1870 the population was 2,838, growing to 15,245 by 1930.

Charlottesville was the home of two U.S. presidents, Thomas Jefferson and James Monroe. During their terms as Governors of Virginia, they lived in Charlottesville and traveled to and from Richmond, along the 71-mile historic Three Notch'd Road. Orange, located 26 miles northeast of the city, was the hometown of President James Madison. The University of Virginia, founded by Jefferson, straddles the city's southwestern border. Jefferson's home and primary plantation, Monticello, located 3 miles southeast of the city, is, along with the University of Virginia, a UNESCO World Heritage Site, each attracting thousands of tourists from across the country every year.

An Act of the Assembly of Albemarle County established Charlottesville in 1762. Thomas Walker was named its first trustee. It was situated along a trade route called Three Notched Road (present day U.S. Route 250), which led from Richmond to the Great Valley. The town took its name from the British queen Charlotte of Mecklenburg-Strelitz.

Charlottesville had eight National Banks chartered during the Bank Note Era, and seven of those banks issued National Bank Notes.

Bank History

  • Organized October 4, 1901
  • Chartered October 31, 1901
  • Opened for business November 2, 1901
  • Liquidated January 11, 1917
  • Consolidated with 2594 (Peoples National Bank, Charlottesville, VA)
  • Circulation assumed by 2594 (Peoples National Bank, Charlottesville, VA)

Early in October 1901, the new Jefferson National Bank planned to begin business as soon as it could procure the necessary fixtures and furniture. The stockholders elected the following directors: G.S. Bruce, G.B. Sinclair, C.M. Bolton, S.C. Chanler, E.P. Duncan, Dr. O. Nall, Larkin Willis, Jr., C. Sisson, and C.J. Rixley. The board elected C.J. Rixley, president; G.S. Bruce, vice president; T.P. Peyton, cashier; H.M. Lewis, teller; and C.W. Watts, bookkeeper.[2] 

The King Lumber Company of Charlottesville built the National Valley Bank of Staunton, the Farmers and Merchants National Bank at Winchester, the industrial building at Miller's Manual Labor School of Albemarle, and the Jefferson National Bank of Charlottesville.[3]

In August 1902, Mr. Eppa Rixey and family left Culpeper for Charlottesville to assume his duties as cashier of the Fidelity Savings & Trust Company.[4] He was cashier of the Second National Bank of Culpeper where his brother, C.J. Rixey, was president.[5] C. Jones Rixey, the eldest of the four brothers from Culpeper, ran five banks in the Old Dominion, two national and three state institutions.[6]

In January 1906, the officers were C.J. Rixey, president; G.B. Sinclair, vice president; T.P. Peyton, cashier; and H.M. Lewis, teller.[7]

On Tuesday, January 3, 1911, at a meeting of the directors of the Jefferson National Bank, Hollis Rhinehart of "Birdwood," Albemarle County, was elected vice president to succeed Judge G. Burnley Sinclair who was recently elected president.[8] He resigned as Judge of the Corporation Court of Charlottesville effective March 31st. It was understood he would resume the practice of law in New York.[9] Mr. Rinehart was one-third partner in the firm of Rinehart and Dennis Co., railroad contractors, with offices in the Evans Building, Washington, and with a capital of $1,000,000.[10]

Stockholders of the Peoples National Bank met on Tuesday, January 9, 1917, at their banking house on Main Street to vote on the consolidation of the Jefferson National Bank of Charlottesville and upon the increase of the capital stock from $300,000 to $370,000 by the issue of 700 additional shares of par value $100 to be offered to the stockholders of the Jefferson National Bank in proportion to their holdings at such price as to equal the net book value of the assets of the Jefferson National. The stockholders of the Jefferson National Bank met on the same date at their banking house on Main Street to consider the consolidation and liquidation of their bank.[11] The consolidation occurred on January 11, 1917. Total resources of the Peoples National Bank were now $2.5 million with capital and surplus $500,000 and deposits of $2.5 million.[12] The new directorate was composed of 25 of the leading professional and businessmen of the area as well as property holders of the city and county. The directors were H.M. Gleason, J. Goulay Martin, Geo. R.B. Michie, C.W. Allen, W.M. Lile, C.M. Bolton, Jno. S. White, Jas. B. Wood, R.H. Wood, C.H. Walker, B.F. Dickerson, L.T. Hanckel, E.D. Tayloe, W.W. Waddell, Thos. J. Michie, T.E. Powers, R.A. Watson, E.L. Carruthers, J.J. Boaz, A.V. Conway, A.T. Dulaney, R.F. Marshall, J.L. Newcomb, E.F. Robey, and B.I. Wood. The officers were Geo. R.B. Michie, president; H.M. Gleason and Jas. B. Wood, vice presidents; W.W. Waddell, cashier; and H.A. Dinwiddie, assistant cashier. It was stated that practically all of the employees of the Jefferson National had been given places with the consolidated Peoples National.[13] On January 31st, it was reported the board of directors of the enlarged Peoples National Bank had completed the staff changes incidental to its merger and had made some deserved promotions in its working force. They were as follows: Mr. Harmon Dinwiddie the efficient teller for many years had been promoted to assistant cashier; Mr. E.P. Perry, head bookkeeper in the peoples for a long time was promoted to paying teller; and Mr. Bradley Peyton had been chosen as manager of the Savings Department.[14]

The Old Jefferson National Bank Building on First and Main Streets, Charlottesville. The Jefferson National Bank building was located at the northwest corner of First and Main Streets. It was carved out of the east end of the Leterman Building, which was a prominent downtown department store at the time. Much of the Leterman Building still exists, with various shops occupying the original space. Jefferson National Bank opened here around August 1902 after moving from the building that is now the Jefferson Theater. This building later became Hyman's, a clothing store. The photo from the 1970s shows it as H&M Shoes. Today, this location is Hamilton's, a fine dining restaurant on C'ville's Downtown Mall. 

In May 1895, Mr. W.T. Vandegrift of the Vandegrift Construction Company submitted plans for buildings to be erected in the spring by the Peoples National Bank and Leterman Brothers.[15] In 1896 Phil. Leterman offered the public goods discounted from 25 to 35% in the new stone building at 320 East Main Street.[16]

Official Bank Title

1: The Jefferson National Bank of Charlottesville, VA

Bank Note Types Issued

A total of $528,400 in National Bank Notes was issued by this bank between 1901 and 1917. This consisted of a total of 42,272 notes (42,272 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
1882 Brown Back 3x10-20 1 - 1170
1882 Date Back 3x10-20 1 - 8100
1882 Value Back 3x10-20 8101 - 9398

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1901 - 1917):

Presidents:

Cashiers:

Other Known Bank Note Signers

Bank Note History Links

Sources

  • Charlottesville, VA, 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 Daily Progress, Charlottesville, VA, Mon., Jan. 16, 1911.
  2. ↑ Richmond Dispatch, Richmond, VA, Thu., Oct. 3, 1901.
  3. ↑ Richmond Times-Dispatch, Richmond, VA, Thu., Apr. 9, 1903.
  4. ↑ Culpeper Star-Exponent, Culpeper, VA, Fri., Aug. 8, 1902.
  5. ↑ Culpeper Star-Exponent, Culpeper, VA, Fri., Aug. 8, 1902.
  6. ↑ The Roanoke Times, Roanoke, VA, Sat., July 18, 1903.
  7. ↑ The Daily Progress, Charlottesville, VA, Sat., Jan. 27, 1906.
  8. ↑ Richmond Times-Dispatch, Richmond, VA, Thu., Jan. 5, 1911.
  9. ↑ The News and Advance, Lynchburg, VA, Sun., Mar. 19, 1911.
  10. ↑ The Daily Progress, Charlottesville, VA, Sat. Jan. 4, 1936.
  11. ↑ The Daily Progress, Charlottesville, VA, Wed., Jan. 3, 1917.
  12. ↑ The Daily Progress, Charlottesville, VA, Fri., Jan. 12, 1917.
  13. ↑ The Daily Progress, Charlottesville, VA, Fri., Jan. 12, 1917.
  14. ↑ The Daily Progress, Charlottesville, VA, Wed., Jan. 31, 1917.
  15. ↑ Richmond Dispatch, Richmond, VA, Thu., May 2, 1895.
  16. ↑ The Daily Progress, Charlottesville, VA, Sat., Oct. 10, 1896.
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