Merchants NB of West Virginia, Clarksburg, WV (Charter 1530)

Merchants Bank at 300 W Main Street, Clarksburg. Architect Charles L. Hickman. During the 1960’s and 1970’s occupied By Community Savings and Loan, currently City Bank. Courtesy of the Library of Congress

Merchants NB of West Virginia, Clarksburg, WV (Chartered 1865 - Open past 1935)

Town History

Merchants & Mechanics Bank of Wheeling at Clarksburg Branch Obsolete $10 proof, Haxby VA-240. This National Bank Note Co. design incorporated portraits of George Washington and a young woman as well as vignettes of a basket of corn and a cow with her calf under a tree. There are also two small orange TEN protectors over the signature lines. Courtesy of Heritage Auctions, www.ha.com

Clarksburg is a city in Harrison County, West Virginia, and its county seat. The population was 16,039 at the 2020 census, making it the tenth-most populous city in West Virginia. It is the principal city of the Clarksburg micropolitan area in North Central West Virginia, which had a population of 90,434 in 2020.

The Virginia General Assembly authorized the town of Clarksburg in 1785. Now a city, it is named for General George Rogers Clark, a Virginian who conducted many expeditions against the British and Indians during the Indian Wars and the war of the American Revolution, including the strategically critical capture of the Forts of Vincennes, now in the State of Indiana, in 1778.

The Criminal Justice Information Services Division (or CJIS) is a division of the United States Federal Bureau of Investigation (FBI) located in Clarksburg, West Virginia. The CJIS was established in February 1992 and is the largest division of the FBI.

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

Bank History

• Organized July 25, 1865
• Chartered August 18, 1865
• Succeeded Clarksburg Branch of Merchants and Mechanics Bank of Wheeling
• Bank was Open past 1935
• Acquired by Union National Bank of Clarksburg (Charter 7681) in November 1961

The Merchant's and Mechanic's Bank was organized at Clarksburg in 1860 with a capital of $79,000. It was a branch of the Merchants and Mechanics Bank of Wheeling and was operated in connection with that institution. The first board of directors consisted of Nathan Goff, Aaron Criss, Cyrus Ross, Burton Despard and John Davis. Luther Haymond was cashier in which capacity he served until the bank was closed, its business passing to the Merchant's Bank of West Virginia at Clarksburg which was organized in 1865 with a capital stock of $100,000. Luther Haymond was its first cashier. Nathan Goff, Sr., was its first president and continued as such until his death in 1885 when Gen. Nathan Goff, Jr., was elected to fill the vacancy caused by his uncle's death. Gen. Goff served as president until April 26, 1892 when he resigned as he had been appointed by the president as one of the Judges of the U.S. Circuit Court. Judge Goff was succeeded by Richard T. Lowndes as president and David Davidson was elected a director in place of Judge Goff. The bank in 1893 had recently purchased at a cost of $8,500 the lot at the corner of Main and Third Streets, opposite the Court House, for a new banking house.

In January 1880, stockholders of the Merchants National Bank of W. Va. at Clarksburg elected the following directors: Nathan Goff, George T. Ross, A.C. Moore, N. Goff, Jr., John Irwin, T.S. Spates, and Thomas W. Harrison. The directors elected the following officers: Nathan Goff, president; Thomas W. Harrison, vice president; Luther Haymond, cashier; and Lee Haymond, assistant cashier. Thomas S. Spates was also elected a director and president of the Bank of West Virginia at Clarksburg along with John C. Vance, cashier; and R.S. Horner, teller. The state bank had been in business since 1870.

The morning of November 27, 1885, Nathan Goff, Sr., uncle of Hon. Nathan Goff, Jr., a member of Congress, died at his residence in Clarksburg. He was born in 1798 and with his father's family came to Harrison County very early in life and to Clarksburg in 1831, where, as in Morgantown, he was engaged successfully in the mercantile business. In 1844 due to ill-health, he discontinued the mercantile business and turned his attention to banking and did business as a private banker until 1860 when the branch of the Merchants' and Mechanics' Bank of Wheeling was established at Clarksburg, almost entirely through his aid and exertions. Mr. Goff was made its president. He was president of the Merchants National Bank of West Virginia at Clarksburg from its existence until his death. He was for many years mayor of Clarksburg and was elected to the first West Virginia Legislature as a Republican and Union man, serving several successive terms commencing in 1863.

In April 1893, the directors were R.T. Lowndes, T.S. Spates, Lloyd Lowndes, T.W. Harrison, A.C. Moore, A.J. Lodge, and David Davidson. The officers were R.T. Lowndes, president; Thos. W. Harrison, vice president; Luther Haymond, cashier; Lee Haymond, assistant cashier and S.R. Harrison, second assistant cashier. the bank had capital of $100,000.

On Tuesday, January 9, 1900, stockholders re-elected the following directors: R.T. Lowndes, Thos. W. Harrison, R.T. Lowndes, Jr., A.J. Lodge, T.S. Spates, V.L. Highland and David Davidson. The officers were R.T. Lowndes, president; Thomas W. Harrison, vice president; S.R. Harrison, cashier; and W.H. Lewis, assistant cashier. The stockholders of the West Virginia Bank re-elected the officers and directors. The officers were Jas. M. Lyon, president; and W.H. Freeman, cashier.

In January 1910, the directors were R.T. Lowndes, Thomas W. Harrison, A.J. Lodge, David Davidson, Virgil L. Highland, George L. Duncan, and Haymond Maxwell. The officers elected were R.T. Lowndes, president; Thomas W. Harrison, vice president; William H. Lewis, cashier; Howard L. Cunningham, assistant cashier; and David B. Carper, teller.

An advertisement from 1895 for the West Virginia Bank, Clarksburg, located on Third Street between Main and Pike.

Effective December 30, 1933, the Merchants National Bank of West Virginia at Clarksburg assumed the entire deposit liability of the West Virginia Bank also of Clarksburg. The transfer was approved by the comptroller of the currency and the commissioner of banking of the state of West Virginia. The last statement of the Merchants National showed total assets of $1,589,629, with demand and time deposits excepting government, public and other bank deposits, totaling $1,005,938. Its capital was $100,000, surplus $100,000 and undivided profits $59, 838. The total assets of the West Virginia Bank according to its last statement dated November 9th were $1,245,819. Deposits totaled $786,279 and its capital, surplus and undivided profits were $280,924.

On Saturday, November 23, 1889, the charter of the Bank of West Virginia expired and a new bank was organized at Clarksburg called the West Virginia Bank with W.H. Freeman, cashier, and successor to Col. John Vance.

In November 1961, the 101 year old Merchants National Bank of West Virginia announced it had sold its assets to Union National Bank effective Saturday, November 4th. Luther S. Berry, executive vice president of Union National said the comptroller of the currency approved the sale on Thursday. The tentative price was $960,000 subject to some adjustments. Union National had 18 months in which to dispose of Merchants' physical properties including its building. Merchants' shareholders would receive a minimum of $800 a share early next January.

Official Bank Title

1: The Merchants National Bank of West Virginia at Clarksburg, WV

Bank Note Types Issued

1882 Brown Back $10 bank note with pen signatures of S.R. Harrison, Cashier and R.T. Lowndes, President. Courtesy of Heritage Auctions, www.ha.com

1902 Red Seal $10 bank note with pen signatures of W.H. Lewis, Cashier and R.T. Lowndes, President. This is a Replacement note. Courtesy of Lyn Knight Auctions, www.lynknight.com

1902 Plain Back $20 bank note with pen signatures of S.H. White, Cashier and R.T. Lowndes, President. Courtesy of Heritage Auctions, www.ha.com

1929 Type 2 $20 bank note with printed signatures of Carl D. Sommerville, Cashier and George L. Duncan, President. Courtesy of Heritage Auctions. www.ha.com

A total of $2,294,560 in National Bank Notes was issued by this bank between 1865 and 1935. This consisted of a total of 196,467 notes (160,192 large size and 36,275 small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type	Sheet/Denoms	Serial#s	Sheet Comments
Original Series	4x5	1 - 1500
Original Series	3x10-20	1 - 3180
Series 1875	4x5	1 - 96
Series 1875	3x10-20	1 - 2162
1882 Brown Back	3x10-20	1 - 6231
1902 Red Seal	3x10-20	1 - 3600
1902 Date Back	3x10-20	1 - 7400
1902 Plain Back	3x10-20	7401 - 23279
1929 Type 1	6x5	1 - 1732
1929 Type 1	6x10	1 - 2530
1929 Type 1	6x20	1 - 676
1929 Type 2	5	1 - 3526
1929 Type 2	10	1 - 2489
1929 Type 2	20	1 - 632

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1935):

Presidents:

• Nathan Goff, (I), 1865-1885
• Hon. Nathan Goff, (II), 1886-1891
• Richard Tasker Lowndes, 1892-1929
• George Lee Duncan, Sr., 1930-1935

Cashiers:

• Luther Haymond, 1865-1895
• Major Lee Haymond, 1896-1898
• Samuel Robertson Harrison, 1899-1906
• William Hay Lewis, 1907-1916
• Scott H. White, 1917-1929
• Carl Dee Sommerville, 1930-1935

Other Known Bank Note Signers

• No other known bank note signers for this bank

Bank Note History Links

• Merchants NB of West Virginia, Clarksburg, WV History (NB Lookup)
• West Virginia Bank Note History (BNH Wiki)

Sources

• Clarksburg, WV, on Wikipedia
• Historic Sites, Clarksburg.com
• 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
• Highsmith, C.M., photographer. (2015) The Merchants National Bank now City National Bank building in downtown Clarksburg, West Virginia. Photograph Retrieved from the Library of Congress.