Mechanics-American NB, Saint Louis, MO (Charter 7715)
Mechanics-American NB, Saint Louis, MO (Chartered 1905 - Closed 1919)
Town History
St. Louis is the second-largest city in Missouri. It sits near the confluence of the Mississippi and the Missouri Rivers. In 2020, the city proper had a population of 301,578, while the bi-state metropolitan area, which extends into Illinois, had an estimated population of over 2.8 million, making it the largest metropolitan area in Missouri and the second-largest in Illinois.
The founding of St. Louis was preceded by a trading business between Gilbert Antoine de St. Maxent and Pierre Laclède Liguest in the fall of 1763. St. Maxent invested in a Mississippi River expedition led by Laclède, who searched for a location to base the company's fur trading operations. Though Ste. Genevieve was already established as a trading center, he sought a place less prone to flooding. He found an elevated area overlooking the flood plain of the Mississippi River, not far south from its confluence with the Missouri and Illinois rivers. In addition to having an advantageous natural drainage system, there were nearby forested areas to supply timber and grasslands which could easily be converted for agricultural purposes. This place, declared Laclède, “might become, hereafter, one of the finest cities in America.” He dispatched his 14-year-old stepson, Auguste Chouteau, to the site, with the support of 30 settlers in February 1764. Laclède arrived at the future town site two months later and produced a plan for St. Louis based on the New Orleans street plan. The default block size was 240 by 300 feet, with just three long avenues running parallel to the west bank of the Mississippi. He established a public corridor of 300 feet fronting the river, but later this area was released for private development.
St. Louis was transferred to the French First Republic in 1800 (although all of the colonial lands continued to be administered by Spanish officials), then sold by the French to the U.S. in 1803 as part of the Louisiana Purchase. St. Louis became the capital of, and gateway to, the new territory. Shortly after the official transfer of authority was made, the Lewis and Clark Expedition was commissioned by President Thomas Jefferson. The expedition departed from St. Louis in May 1804 along the Missouri River to explore the vast territory.
St. Louis became a major port on the Mississippi River and from 1870 until the 1920 census, it was the fourth-largest city in the country. It separated from St. Louis County in 1877, becoming an independent city and limiting its political boundaries. In 1904, it hosted the Louisiana Purchase Exposition and the Summer Olympics.
Saint Louis had 42 National Banks chartered during the Bank Note Era, and 37 of those banks issued National Bank Notes.
Bank History
- Organized April 19, 1905
- Chartered April 28, 1905
- Opened for business May 1, 1905
- Succeeded 5788 (Mechanics NB) & 7570 (American Exchange NB)
- Closed July 7, 1919
- Consolidated with 170 July 7, 1919 (Third National Bank/First NB, St. Louis, MO)
- Circulation assumed by 170 (Third National Bank/First NB, St. Louis, MO)
On April 8, 1905, speculation was stimulated by the announcement that the merger of the Mechanics National Bank and the American Exchange National Bank was practically complete. Trading was active and prices strong at the session of the local Stock Exchange. The American Exchange National closed at $386 bid compared to offerings a few days earlier of $360. Mechanics National which sold the day before at $293 rose on the first transfer to $306, but profit-taking lowered the price to around $300. R.R. Hutchinson was president of the Mechanics National Bank and Walker Hill, president, American Exchange National Bank.
On April 29, 1905, by the unanimous consent of its board of directors and stockholders, the American Exchange National Bank voted to merge with the Mechanics National Bank under the name of the Mechanics-American National Bank. The capital of the new institution was $2,000,000 and the surplus $2,500,000. The new bank would occupy the present quarters of the Mechanics National at the northeast corner of Broadway and Locust Street. Walker Hill, president of the American Exchange National would be president; with H.P. Hillard, vice president; and L.A. Battaile, cashier. The other officers were W.J. Kinsella and Ephron Catlin, vice presidents; and J.S. Calfee, J.A. Berninghaus, and G.M. Trumbo, assistant cashiers. The directors were George D. Barnard, president Geo. D. Barnard & Co., William B. Becktold, Pres. Becktold Printing and Book Mfg. Co.; Paul Brown, director, American Tobacco Co.; L.A. Battaile, cashier; H.H. Culver, Pres., Wrought Iron Range Co.; Ephron Catlin, vice president; A.H. Duncan, Pres., Mayfield Woolen Mills Clothing Co.; Henry Gehner, pres., H. Gehner Distilling Co.; Morris Glaser, Morris Glaser & Co.; James Green, Pres. Laclede Fire Brick Mfg. Co.; Joseph M. Hayes, Pres. Joseph M. Hayes Woolen Co.; H.P. Hilliard, vice president; R.M. Hubbard, pres., Hubbard & Moffit Commission Co.; R.R. Hutchinson, directors, mechanics-American National Bank; Walker Hill, president; Jackson Johnson, Pres. Roberts, Johnson & Rand Shoe Co.; W.J. Kinsella, Pres., Hanley & Kinsella Coffee and Spice Co.; C.G. Knox, pres., Stock Yards Bank, National Stock Yards, Illinois; Sam. M. Kennard, pres., J. Kennard & Sons Carpet Co.; A.B. Lambert, pres., Lambert Pharmacal Co.; J.B.C. Lucas, capitalist; H.F. Langenberg, Langenberg Bros. & Co.; Jas. Y. Lockwood; Hugh McKittrick, vice president, Hargadine-McKittrick Dry Goods Co.; Geo. A. Meyer, pres., Meyer-Schmid Grocery Co.; Henry Nicolaus, pres., St. Louis Brewing Assn.; F.R. Rice, pres., F.R. Rice Mercantile Cigar Co.; M. Schoenberg, pres., May Mercantile Co.; Jas. D. Streett, J.D. Streett & Co.; H.B. Spencer, general manager, Southern Railway Co.
In April 1909, the bank lease of the Mechanics-American National for the building on the northeast corner of Broadway and Locust Street with four years to run was recently taken over by the Scruggs-Vandervoort-Barney Co., when the latter leased its old quarters at the southwest corner of Broadway and Locust to the Mechanics-American. The rental was $25,000 a year. On Monday, November 8, 1909, the Mechanics-American National Bank opened for business in its new banking house on the southwest corner of Broadway and Locust Street.
In January 1910, the stockholders elected to the directory James F. Ballard of Ballard-Snow Liniment Company and William H. Danforth of the Purina Mills. They would take the places of Morris Glaser and William B. Becktol, deceased. The new board of directors was as follows: W.C. Arthurs, James F. Ballard, L.A. Battaile, Paul Brown, Ephron Catlin, J.S. Calfee, H.H. Culver, William H. Danforth, James Green, Joseph M. Hayes, Walker Hill, Jackson Johnson, A.B. Lambert, H.F. Langenberg, James Y. Lockwood, Hugh McKittrick, George A. Meyer, F.R. Rice, M. Shoenberg, James D. Streett, and Henry B. Spencer.
In January 1918, the officers were Walker Hill, president; Frank O. Hicks, Jackson Johnson, and Ephron Catlin, vice presidents; Joseph S. Calfee, cashier; Charles L. Allen, James R. Leavell, C. Hobart Chase, and Richard L. King, assistant cashiers.
In June 1918, William H. Danforth, president of the Ralston Purina Company of St. Louis, was in France for the duration of the war. He accepted without pay the office of general secretary of YMCA canteen work. The office was created at the suggestion of Gen. Pershing who requested the YMCA take over Army canteen work in France, thus releasing thousands of men for the front lines. General Pershing had determined that his army was needed to train for the task ahead. He relied upon the YMCA to train this army in all its activities except the purely military. The YMCA in France was a part of the military machine. The state of mind of the fighting men was the greatest influence upon efficiency as a fighting force. In the brief time that the American Expeditionary forces had been in France, the French and Italian Governments asked for the extension of the system into their armies, and the YMCA agreed. The "Y" in France was doing business of $5,000,000 a month.
On February 4, 1919, Capt. Maury Hill of the 24th Aero Squadron arrived home from oversees. He was the son of Walker Hill, president of the Mechanics-American National Bank. At 23, Capt. Hill was one of the youngest officers of his rank in the American Air Service. In March 1919, the officers were the same as the previous year. The directors were W.C. Arthurs, Charles L. Allen, James F. Ballard, Joseph S. Calfer, Ephron Catlin, B.B. Culver, W.H. Danforth, Philip B. Fouke, Warren Goddard, John L. Green, E.W. Grove, Walker Hill, Frank O. Hicks, Jackson Johnson, A.B. Lamberth, James Y. Lockwood, H.H. Langenberg, J. Clark Streett, Moses Shoenberg, and M.E. Singleton.
At 9 o'clock on July 7, 1919, the new First National Bank in St. Louis, formed through the consolidation of the St. Louis Union Bank, Mechanics-American National Bank and the Third National Bank opened for business in the enlarged quarters of the former Mechanics-American Bank and adjoining buildings at the southwest corner of Broadway and Locust Street. The present location had 41,000 square feet of floor space and would be used until the erection of a proposed new home at the northwest corner of Seventh and Locust Streets, expected about December 31, 1920. Total resources of the new bank were in excess of $150 million. The capital and surplus totaled $15 million and deposits more than $120 million.
Official Bank Title(s)
1: The Mechanics-American National Bank of St. Louis, MO
Bank Note Types Issued
A total of $10,938,000 in National Bank Notes was issued by this bank between 1905 and 1919. This consisted of a total of 1,429,660 notes (1,429,660 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 1902 Red Seal 4x5 1 - 68650 1902 Red Seal 4x10 1 - 10000 1902 Red Seal 3x10-20 1 - 38540 1902 Date Back 4x5 1 - 121217 1902 Date Back 4x10 1 - 113674 1902 Date Back 3x10-20 1 - 5334
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1905 - 1919):
Presidents:
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Missouri Bank Note History
- General information on Saint Louis (Wikipedia)
- General information on St. Louis County (Wikipedia)
- General information on Missouri (Wikipedia)
Sources
- Saint Louis, MO, 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
- St. Louis Post-Dispatch, St. Louis, MO, Sat., Apr. 8, 1905.
- St. Louis Post-Dispatch, St. Louis, MO, Sat., Apr. 29, 1905.
- The St. Louis Republic, St. Louis, MO, Sun., Apr. 30, 1905.
- St. Louis Globe-Democrat, St. Louis, MO, Thu., Apr. 8, 1909.
- St. Louis Post-Dispatch, St. Louis, MO, Sun., Nov. 7, 1909.
- St. Louis Globe-Democrat, St. Louis, MO, Wed., Jan. 12, 1910.
- The Modern View, St. Louis, MO, Fri., Feb. 1, 1918.
- The Pittsburgh Daily Post, Pittsburgh, PA, Mon., June 17, 1918.
- St. Louis Post-Dispatch, St. Louis, MO, Tue., Feb. 4, 1919.
- The St. Louis Star and Times, St., Louis, MO, Mon., Mar. 10, 1919.
- The St. Louis Star and Times, St., Louis, MO, Mon., July 7, 1919.
- ↑ The Bankers' Magazine, Vol. 79, July 1909-Dec. 1909, p. 177.