Lincoln National Bank, Pittsburgh, PA (Charter 4883)
Lincoln National Bank, Pittsburgh, PA (Chartered 1893 - Liquidated 1915)
Town History
Pittsburgh is a city in the state of Pennsylvania and the county seat of Allegheny County. As of the 2020 census, the population was 302,971 living within the city limits making it the 68th-largest city in the U.S. and the second-most populous city in Pennsylvania, behind Philadelphia. The Pittsburgh metropolitan area is the anchor of Western Pennsylvania; its population of 2.37 million is the largest in both the Ohio Valley and Appalachia, the second-largest in Pennsylvania, and the 27th-largest in the U.S.
Pittsburgh is located in the southwest of the state, at the confluence of the Allegheny River and the Monongahela River, forming the Ohio River. Pittsburgh is known both as "the Steel City" for its more than 300 steel-related businesses and as the "City of Bridges" for its 446 bridges. The city features 30 skyscrapers, two inclined railways, a pre-revolutionary war fortification and the Point State Park at the confluence of the rivers. The city developed as a vital link of the Atlantic coast and Midwest.
Aside from steel, Pittsburgh has led in the manufacturing of other important materials — aluminum and glass — and in the petroleum industry. Additionally, it is a leader in computing, electronics, and the automotive industry. For part of the 20th century, Pittsburgh was behind only New York City and Chicago in corporate headquarters employment; it had the most U.S. stockholders per capita. Deindustrialization in the 1970s and 1980s laid off area blue-collar workers as steel and other heavy industries declined, and thousands of downtown white-collar workers also lost jobs when several Pittsburgh-based companies moved out. The population dropped from a peak of 675,000 in 1950 to 370,000 in 1990. However, this rich industrial history left the area with renowned museums, medical centers, parks, academic institutions, research centers, and a diverse cultural district.
After the deindustrialization of the mid-20th century, Pittsburgh has transformed into a hub for the health care, education, and technology. Pittsburgh is a leader in the health care sector as the home to large medical providers such as University of Pittsburgh Medical Center (UPMC). The area is home to 68 colleges and universities, including research and development leaders Carnegie Mellon University and the University of Pittsburgh. Google, Apple Inc., Bosch, Facebook, Uber, Nokia, Autodesk, Amazon, Microsoft and IBM are among 1,600 technology firms generating $20.7 billion in annual Pittsburgh payrolls. The area has served as the long-time federal agency headquarters for cyber defense, software engineering, robotics, energy research and the nuclear navy. The nation's fifth-largest bank, eight Fortune 500 companies, and six of the top 300 U.S. law firms make their global headquarters in the area, while RAND Corporation (RAND), BNY Mellon, Nova, FedEx, Bayer, and the National Institute for Occupational Safety and Health (NIOSH) have regional bases that helped Pittsburgh become the sixth-best area for U.S. job growth.
Pittsburgh was named in 1758, by General John Forbes, in honor of British statesman William Pitt, 1st Earl of Chatham. Pittsburgh was incorporated as a borough on April 22, 1794. From 1891 to 1911, the city's name was federally recognized as "Pittsburg", though use of the final h was retained during this period by the city government and other local organizations including most, but not all national banks. After a public campaign, the federal decision to drop the h was reversed.
The North Side is home to various neighborhoods in transition. What is known today as Pittsburgh's North Side was once known as Allegheny City, and operated as a city independently of Pittsburgh until it was merged with Pittsburgh in 1907 under great protest from its citizens.
The South Side was once the site of the Pennsylvania Railroad rail yards and associated dense, inexpensive housing for mill and railroad workers. Since the late 20th century, the city undertook a Main Street program in cooperation with the National Trust for Historic Preservation, encouraging design and landscape improvements on East Carson Street, and supporting new retail. The area has become a local Pittsburgher destination. East Carson Street has developed as one of the most vibrant areas of the city, packed with diverse shopping, ethnic eateries, vibrant nightlife, and live music venues.
In 1993 the Urban Redevelopment Authority of Pittsburgh purchased the South Side Works steel mill property. It collaborated with the community and various developers to create a master plan for a mixed-use development, to include a riverfront park, office space, housing, health-care facilities, and indoor practice fields for the Pittsburgh Steelers and Pitt Panthers. Construction began in 1998. The South-Side Works has been open since 2005, featuring many stores, restaurants, offices, and the world headquarters for American Eagle Outfitters.
The East End of Pittsburgh is home to the University of Pittsburgh, Carnegie Mellon University, Carlow University, Chatham University, The Carnegie Institute's Museums of Art and Natural History, Phipps Conservatory, and Soldiers and Sailors Memorial Hall. It is also home to many parks and public spaces including Mellon Park, Westinghouse Park, Schenley Park, Frick Park, The Frick Pittsburgh, Bakery Square, and the Pittsburgh Zoo and PPG Aquarium. The neighborhoods of Shadyside and Squirrel Hill are large, wealthy neighborhoods with some apartments and condos, and pedestrian-oriented shopping/business districts. Squirrel Hill is also known as the hub of Jewish life in Pittsburgh, home to approximately 20 synagogues. Oakland, heavily populated by undergraduate and graduate students, is home to most of the universities, and the Petersen Events Center. The Strip District to the west along the Allegheny River is an open-air marketplace by day and a clubbing destination by night. Bloomfield is Pittsburgh's Little Italy and is known for its Italian restaurants and grocers. Lawrenceville is a revitalizing rowhouse neighborhood popular with artists and designers. The Hill District was home to photographer Charles Harris as well as various African-American jazz clubs. Other East End neighborhoods include Point Breeze, Regent Square, Homewood, Lincoln-Lemington-Belmar, Larimer, East Hills, East Liberty, Polish Hill, Hazelwood, Garfield, Morningside, and Stanton Heights.
The West End includes Mt. Washington, with its famous view of the Downtown skyline and numerous other residential neighborhoods such as Sheraden and Elliott.
Pittsburgh had 47 National Banks chartered during the Bank Note Era, and 46 of those banks issued National Bank Notes. Pittsburgh also had several Obsolete Banks that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).
Bank History
- Organized March 2, 1893
- Chartered March 24, 1893
- Succeeded Masonic Bank
- Liquidated April 30, 1915
- Absorbed by 727 (Peoples National Bank, Pittsburgh, PA)
The Legislature chartered the Masonic Deposit Saving Bank in 1869 and in January 1870, the directors were Charles W. Batchelor, Robert Pitcairn, G.C. Shidle, C.F. Wells, John Chislett, Wm. Scott, Alfred Slack, James Finlay, and W.F. Lang. Officers were President, C.W. Batchelor; Cashier, George C. McLean. The bank had capital of $200,000 with privilege of $500,000. The Masonic Savings Bank was located on 131 Smithfield Street, corner of Virgin Alley. In January 1874, the directors elected were C.W. Batchelor, Alfred Slack, Robert Pitcairn, John Chislett, G.C. Shidle, Wm. Scott, Wm. F. Lang, Ralph Bagley, J.J. Lawrence, Aaron French, J.L. Piper, Dr. A.H. Gross, and C.L. Goehring. In March 1876, The Masonic Deposit Bank of Pittsburgh petitioned for a change of name to that of Masonic Bank.
On January 10, 1882 stockholders of the Masonic Bank elected the following directors: Charles W. Batchelor, Ralph Bagaley, Robert Pitcairn, G.C. Shidle, J.J. Lawrence, George W. Rankin, Edwin A. Myers, David Aiken, Jr., S.C. McCandless, S.E. Gill, Jas. A. Sholes, Jos. Eichbaum, and H.C. Frick.
In February 1893, the charter of the Masonic Bank was about to expire and the board decided to recommend to the stockholders that a reorganization be affected under the national banking law. Subject to stockholder approval, the new bank would be known as the Lincoln National Bank. In March the Lincoln National planned to erect a new building on 531 Smithfield Street.
In September 1893, Mrs. Mathilda G. MacConnel and D. Blair Bros. donated property to Pittsburgh for a park. C.B. McLean went to Chicago to purchase the magnificent bronze fountain which stood in front of the German building on the world's fair grounds. The fountain was made in Germany. Chief Bigelow said the new park would be cut out of what was formerly Schuetzen park.
The Lincoln National Bank moved in 1910 from Smithfield and Fifth into the Henry W. Oliver Building. The construction began in 1908 and caused the old Lincoln National bank to be razed along with the Western Savings and Deposit bank and the big Murtland Building. The Henry W. Oliver Building was a 25-story, skyscraper at 535 Smithfield Street, across from Mellon Square in Pittsburgh, Pennsylvania. The building was designed by Daniel Burnham and built 1908-10, consisting of a stone and terra cotta façade over a steel frame at a cost of $3.5 million.
On January 13, 1914, the stockholders met in the banking room of the Henry W. Oliver Building and elected the following directors: C.B. McLean, Edward H. Utley, William C. King, George A. McLean, Isaac E. Hirsch, James A. Huston, James T. Armstrong, James H. Beal, Joseph Heldenkamp, C.M. Gerwig, H.A. Johnston, and R.S. George.
On March 22, 1915, The Peoples National Bank located on 409 Wood Street took over the business of the Lincoln National Bank of Pittsburgh. The Peoples National Bank was organized in 1864 and was a conservative banking institution with $21 million in resources and Capital of $1 million. The officers were Robert Wardrop, president; D.E. Park, vice president; Hervey Schumacher, cashier; and Frank R. Flood, J. Howard Arthur, and Joseph W. Ward, assistant cashiers.
Official Bank Title(s)
1: The Lincoln National Bank of Pittsburgh, PA
Bank Note Types Issued
A total of $3,010,750 in National Bank Notes was issued by this bank between 1893 and 1915. This consisted of a total of 195,244 notes (195,244 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 - 15630 1882 Brown Back 50-100 1 - 2816 1882 Date Back 3x10-20 1 - 13980 1882 Date Back 50-100 1 - 360 1902 Date Back 3x10-20 1 - 16747 1902 Date Back 3x50-100 1 - 866
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1893 - 1915):
Presidents:
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Pennsylvania Bank Note History
- General information on Pittsburgh (Wikipedia)
- General information on Allegheny County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Pittsburgh, PA, 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
- Pittsburgh Daily Post, Pittsburgh, PA, Tue., Jan. 25, 1870.
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., Jan. 14, 1874.
- Pittsburgh Daily Post, Pittsburgh, PA, Mon., Mar. 27, 1876.
- Pittsburgh Post-Gazette, Pittsburgh, PA, Wed. Jan. 11, 1882.
- Pittsburgh Post-Gazette, Pittsburgh, PA, Wed., Feb. 22, 1893.
- The Pittsburgh Press, Pittsburgh, PA, Fri., Sep. 29, 1893.
- Pittsburgh Post-Gazette, Pittsburgh, PA, Tue., Mar. 8, 1910.
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., Jan. 14, 1914.
- Pittsburgh Post-Gazette, Pittsburgh, PA, Thu., Apr. 1, 1915.