Merchants National Bank, Harrisburg, PA (Charter 3713)

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The old Central Trust Company Building on Third and Verbeke Streets, Harrisburg, Pennsylvania, ca2022.
The old Central Trust Company Building on Third and Verbeke Streets, Harrisburg, Pennsylvania, ca2022. Courtesy of Google Maps

Merchants National Bank, Harrisburg, PA (Chartered 1887 - Liquidated 1924)

Town History

An 1891 sketch of the Merchants National Bank, 1125 North Third Street, Harrisburg, Pennsylvania.
An 1891 sketch of the Merchants National Bank, 1125 North Third Street, Harrisburg, Pennsylvania.

Harrisburg is the capital city of the Commonwealth of Pennsylvania, and the county seat of Dauphin County. With a population of 50,099 as of the 2020 census, Harrisburg is the 9th largest city and 15th largest municipality in Pennsylvania. In 1880 the population was 30,762 peaking in 1950 at 89,544.

Harrisburg is situated on the east bank of the Susquehanna River. It played a role in American history during the Westward Migration, the American Civil War, and the Industrial Revolution. During part of the 19th century, the building of the Pennsylvania Canal and later the Pennsylvania Railroad allowed Harrisburg to develop into one of the most industrialized cities in the Northeastern United States. In the mid-to-late 20th century, the city's economic fortunes fluctuated with its major industries consisting of government, heavy manufacturing, agriculture, and food services.

The Pennsylvania Farm Show, the largest indoor agriculture exposition in the U.S., was first held in Harrisburg in 1917 and has been held there every early-to-mid January since. The city also hosts the annual Great American Outdoor Show, the largest of its kind in the world, among many other events. Harrisburg experienced the Three Mile Island accident on March 28, 1979, in nearby Middletown.

Harrisburg had three National Banks chartered during the National Bank Note Era, The First National Bank (Charter 201), The Harrisburg National Bank (Charter 580), and The Merchants National Bank (Charter 3713). All three of those banks issued National Bank Notes.

Bank History

  • Organized May 16, 1887
  • Chartered May 24, 1887
  • Liquidated December 31, 1924
  • Absorbed by Central Trust Company, Harrisburg

On the evening of March 14, 1887, a meeting of prominent and substantial businessmen was held at the residence of Adam Reel, North Third Street, to take steps toward the formation of a banking house in West Harrisburg. The capital stock of the new bank was fixed at $100,000. The following persons had already subscribed for over $100,000 of stock: R.B. Mateer, Louis Dellone, H.D. Hemler, J.D. Thorley, J.J. Reese, O.P. Grove. M.G. Potts, Jesse Wingert, J.R. Schermerhorn, Adam Reel, Alexander Blessing, Sharon Stephens, W.O. Bishop, John Froelich, J.R. Stoey, H.L. Nissley, and W.E. Muchlin.

On March 31, 1887, the stockholders of Harrisburg's new bank met for the purpose of organization and electing directors. The Merchants National Bank was decided upon as the title and $100,000 as the capital stock. The names of 24 gentlemen were nominated for directors and 13 were to be selected. There were 941 votes cast and result was as follows: J.F. Corbett of Dauphin; J.M. Underwood of Cumberland County; Col. Jas. Young of Middletown; H.B. Mateer, H.D. Hemler, L. Delone, O.P. Grove, W.O. Bishop, Alexander Blessing, W.M. Donaldson, J.R. Schemerhorn, W.L. Stoey, and J. Wingert. On May 24, the directors of the Merchants' Bank of West Harrisburg received notice that the Comptroller of the Currency authorized the Merchants National Bank of Harrisburg, capital $100,000 to begin business. The new building of J.S. Sible on the corner of Third and Cumberland Streets was scheduled for completion by July 1 when the bank planned to open for business. The bank opened for business on Tuesday, July 5, 1887 at 1125 North Third Street. The officers were H.D. Hemler, president; R.B. Mateer, vice president; J.R. Shoemaker, cashier.

On Tuesday, January 8, 1889, the stockholders elected the following directors: H.D. Hemler, R.B. Mateer, Louis Dellone, Wm. O. Bishop, Jos. F. Corbett, W.M. Donaldson, O.P. Grove, Wash. L. Stoey, Jesse Wingert, Wm. Witman, L.J. Guyon, C. Dietz, and Shell A. Reeme.

In February 1893, the Central Guarantee Trust and Safe Deposit Company of Harrisburg was chartered with a capital of $250,000.  The shares were held by the following gentlemen:  Hamilton D. Hemler, W.O. Bishop, Robert B. Mateer, Louis Dellone, and William M. Donaldson.  The directors were Hamilton D. Hemler, William O. Bishop, Robert B. Mateer, Louis Dellone, William M. Donaldson, William Whitman, Washington L. Stoey, S.A. Reeme and Jesse Wingert.

At the close of business on December 31, 1924, the Merchants National Bank reported total resources of $1,662,859.80. The Capital Stock paid-in was $100,000, Surplus $300,000, undivided profits $2,000, and individual deposits $598,414.49.

The Central Trust Company, Third and Broad Streets, was incorporated in 1893 with paid-in capital of $125,000. It's capital and surplus as of February 1924 was $600,000. The directors were W.M. Donaldson, Gertrude Hemler Tracy, John F. Dapp, J. Ross Sneeringer, Burton F. Blough, H.M. Witman, C.W. Lynch, E.C. Frey, and H.O. Miller. The officers were W.M. Donaldson, president; John F. Dapp, vice president; H.O. Miller, secretary and treasurer; Robert R. Loban, Trust Officer.

With the consolidation of the Central Trust Company and the Merchants National Bank becoming effective on December 31st, 1924, continuing under the name of the Central Trust Company, officials announced the institution would became a member of the Federal Reserve System. It had capital and surplus of $1 million and combined resources of approximately $5 million. The Merchants National was opened in 1887 and the Central Trust Co. in 1894. They had occupied the same building at the present location, Third and Verbeke Streets since that time.

Official Bank Title(s)

1: The Merchants National Bank of Harrisburg, PA

Bank Note Types Issued

1882 Brown Back $10 bank note with pen signatures of H.O. Miller, Cashier and H.D. Hemler, President.
1882 Brown Back $10 bank note with pen signatures of H.O. Miller, Cashier and H.D. Hemler, President. Courtesy of Heritage Auctions, www.ha.com
1902 Plain Back $20 bank note with printed signatures of H.O. Miller, Cashier and W.M. Donaldson, President. The right SN was repaired by the BEP by paging the number using the old font.
1902 Plain Back $20 bank note with printed signatures of H.O. Miller, Cashier and W.M. Donaldson, President. The right SN was repaired by the BEP by paging the number using the old font. Courtesy of Heritage Auctions, www.ha.com

A total of $1,331,750 in National Bank Notes was issued by this bank between 1887 and 1924. This consisted of a total of 106,540 notes (106,540 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 - 4394
1902 Red Seal 3x10-20 1 - 1000
1902 Date Back 3x10-20 1 - 10000
1902 Plain Back 3x10-20 10001 - 21241

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1887 - 1924):

Presidents:

Cashiers:

Other Bank Note Signers

  • There are currently no known Vice President or Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

  • Harrisburg, 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
  • Harrisburg Daily Independent, Harrisburg, PA, Tue., Mar. 15, 1887.
  • Harrisburg Daily Independent, Harrisburg, PA, Wed., May 25, 1887.
  • The Sentinel, Carlisle, PA, Fri., Apr. 1, 1887.
  • Harrisburg Daily Independent, Harrisburg, PA, Wed., July 6, 1887.
  • Harrisburg Telegraph, Harrisburg, PA, Tue., Jan. 8, 1889.
  • Harrisburg Telegraph, Harrisburg, PA, Sat., Sep. 19, 1891.
  • Harrisburg Daily Independent, Harrisburg, PA, Sat., Feb. 18, 1893.
  • Harrisburg Telegraph, Harrisburg, PA, Sat., Feb. 16, 1924.
  • Harrisburg Telegraph, Harrisburg, PA, Tue., Dec. 30, 1924.
  • Harrisburg Telegraph, Harrisburg, PA, Wed., Jan. 7, 1925.