Merchants National Bank, Kansas City, MO (Charter 2440)

A monumental bald eagle tending eaglets in a nest is perched above the main entrance of the New York Life Building. The work was sculpted by Louis St. Gaudens and contains more than two tons of cast bronze.

Merchants National Bank, Kansas City, MO (Chartered 1879 - Liquidated 1891)

Town History

An advertisement from January 1889 for the Merchants National Bank of Kansas City.

Kansas City (abbreviated KC or KCMO) is the largest city in Missouri by population and area. As of the 2020 census, the city had a population of 508,090, making it the 36th most-populous city in the United States. It is the most populated municipality of the Kansas City metropolitan area, which straddles the Kansas–Missouri state line and has a population of 2,392,035. Most of the city lies within Jackson County, with portions spilling into Clay, Cass, and Platte counties. Kansas City was founded in the 1830s as a port on the Missouri River at its confluence with the Kansas River coming in from the west. On June 1, 1850, the town of Kansas was incorporated; shortly after came the establishment of the Kansas Territory. Confusion between the two ensued, and the name Kansas City was assigned to distinguish them soon after.

The city is composed of several neighborhoods, including the River Market District in the north, the 18th and Vine District in the east, and the Country Club Plaza in the south. Celebrated cultural traditions include Kansas City jazz; theater, as a center of the Vaudevillian Orpheum circuit in the 1920s; the Chiefs and Royals sports franchises; and famous cuisine based on Kansas City-style barbecue, Kansas City strip steak, and craft breweries. It serves as one of the two county seats of Jackson County, along with the major suburb of Independence. Other major suburbs include the Missouri cities of Blue Springs and Lee's Summit and the Kansas cities of Overland Park, Olathe, Lenexa, and Kansas City, Kansas.

Kansas City had 43 National Banks chartered during the Bank Note Era, and 40 of those banks issued National Bank Notes.

Bank History

• Organized November 28, 1879
• Chartered December 2, 1879
• Liquidated December 22, 1891
• Absorbed by 4464 (Metropolitan National Bank, Kansas City, MO)

In December 1879, the directors were Thos. K. Hanna, V.B. Buck, John Long, W.A.M. Vaughan, Alvan Mansur, John C. Gage, F.L. Underwood and J.M. Coburn. F.L. Underwood was president and J.M. Coburn, cashier. The bank had authorized capital of $1,000,000 and paid up capital $250,000.

In January 1889, the officers were W.B. Clarke, president; C.S. Wheeler, vice president; O.P. Dickinson, second vice president; and G.W. McKnight, cashier. The directors were W.B. Clarke, C.S. Wheeler, A.A. Tomlinson, John Long, O.P. Dickinson, W.A.M. Vaughan, G.W. McKnight, John C. Gage, J.M. Coburn, and Walton H. Holmes. The bank had capital of $500,000.

In September 1889, the Whipple Account Book Co. invited visitors attending the Bankers' Association to view its new system of keeping bank accounts, referring to the following banks and trust companies of Kansas City, with their permission, where the system had been adopted and where they could receive an explanation of its benefits.

• Citizens National Bank, northwest corner Sixth and Delaware Streets
• Merchants national Bank, New York Life Building, Ninth and Wall Streets
• German-American national Bank, northwest corner Seventh and Delaware Streets
• Missouri Union Trust Company, Ninth Street, northwest corner, Wyandotte Street
• Kansas City Stock Yards bank, stock yards

The book was also on exhibition in parlor B, Midland hotel.

In February 1891, the Metropolitan National Bank, capital $750,000, was located on the northwest corner of 7th and Delaware Streets, Kansas City, Missouri.  The officers were R.W. Hocker, president; W.E. Hall, vice president; Redman Callaway, cashier; Will L. Gaines and J.G. Strean, assistant cashiers.  The directors were J.K. Burnham, W.C. Glass, A.C. Trumbull, C.E. Moss, J.W. Craney, H.P. McElroy, Geo. P. Gates, E.L. Martin, S.C. Douglass, Redman Callaway, B.M. Tanner, D.P. Thomson, Thos. E. Gaines. R.W. Hocker, and W.E. Hall.

In February 1891, the directors were W.B. Clarke, H.F. Devol, N.B. Buck, John Long, C.S. Wheeler, John C. Gage, Peter E. Emery, W.H. Holmes, W.A. Bunker, A.A. Tomlinson, W.A.M. Vaughan, J.M. Coburn, J.P. Campbell, J.H. Hampson, and J.W. Barney. The officers were W.B. Clarke, president; C.S. Wheeler, vice president; J.W. Barney, cashier and C.R. Rockwell, assistant cashier. The bank was located in the New York Life Building and had capital of $1,000,000. W.B. Clarke was president of the United States Trust Company of Kansas City, also located in the New York Life Building.

In November 1891, it was announced that the Merchants National Bank had consolidated with the Metropolitan National Bank and the business would continue under the charter of the latter.

In January 1892, directors elected were W.B. Clarke, Walton Holmes, J.H. Hampson, John C. Gage, John Long, W.A.H. Vaughan, J.N. Coburn, Peter E. Emery, H.F. Devol, V.B. Buck, W.A. Bunker, J.W. Barney. Mr. Clarke was retained as president; John C. Gage as vice president; J.B. Barney as cashier and C.R. Rockwell as assistant cashier. The Officers of the Metropolitan National Bank were R.W. Hocker, president; W.E. Hall, vice president; Redman Callaway, cashier; J.G. Stream and W.L. Gaines, assistant cashiers. The Metropolitan had capital $750,000 and was located in the New York Life Building.

Photo of William Binghan Clarke, president, Merchants National Bank of Kansas City, Missouri. Source: Findagrave.com

In October 1892, The United State Trust Company officers were W.B. Clarke, president; A.A. Tomlinson, vice president; J.W. Barney, secretary; and C.R. Rockwell, treasurer.  The board of trustees consisted of W.B. Clarke, president, United States Trust Co.; J.S. Chick, president, National Bank of Kansas City; E.H. Allen, president, Exchange Building Assn.; George H. Nettleton, president, Kansas City, Fort Scott, and Memphis Railway; A.A. Tomlinson, vice president; T.B. Bullene, Bullene, Moore, Emery & Co.; Wallace Pratt, Pratt, Ferry & Hagerman, lawyers; J.M. Nave, McCord & Nave mercantile Co.; Gardiner Lathrop, Lathrop, Morrow & Fox, lawyers; F.E. Tyler, Benjamin McLean & Co.; J.C. Gage, Gage, Ladd & Small, lawyers; J.S. Ford, comptroller, Kansas City, Fort Scott and Memphis Railway; J.H. Austin, Austin & Austin, lawyers; George Rockwell, retired; B.T. Whipple, Whipple Loan and Trust Co.; J.W. Barney, secretary; F.L. LaForce, loan broker; A.C. Coates, Coates House; A.R. Meyer, president, Consolidated Smelting and Refining Co.; S.P. Twiss, retired; J.C. James, T.M. James & Sons; C.L. Dobson, Dobson, McCune & Doggett, lawyers; G.W. McKnight, president, First National Bank, Junction City, Kansas; J.P. Campbell, grain commission merchant; and C.R. Rockwell, treasurer. The trust company, capital $250,000, was the financial agent for the New York Life Insurance Co. in addition to its trust functions.

William Binghan Clarke was born in Cleveland, Ohio, April 15, 1848. After an apprenticeship in Cleveland banks, he started one of his own in Abilene, Kansas and when the boom died there organized the First National Bank in Junction City, Kansas, also the Kansas Bond Bureau. In 1886 he came to Kansas City as president of the Merchants National Bank. In 1881 he bought heavily in Missouri & Kansas Telephone stock and became president. In 1888 he organized the United States Trust Company. Among his other interests were salt manufacturing in Salt Lake City, mining in Colorado, and railroad building. Mr. Clarke twice served as president of the Kansas City Club. He passed away on February 24, 1905 in California.

Official Bank Title

1: The Merchants National Bank of Kansas City, MO

Bank Note Types Issued

Series of 1875 $20 bank note with pen signatures of J.M. Coburn, Cashier and F.L. Underwood, President. Courtesy of Heritage Auctions, www.ha.com

Series of 1875 $10 bank note with pen signatures of J.W. Barney, Cashier and C.S. Wheeler, Vice President. Courtesy of Heritage Auctions, www.ha.com

A total of $393,100 in National Bank Notes was issued by this bank between 1879 and 1891. This consisted of a total of 41,408 notes (41,408 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
Series 1875	4x5	1 - 5000
Series 1875	3x10-20	1 - 5250
Series 1875	50-100	1 - 204

Bank Presidents and Cashiers

Built in Italianate Renaissance Revival style, the New York Life Building has a brick and brownstone exterior and an H-shaped footprint with ten-story wings flanking a twelve-story tower. A monumental bald eagle tending eaglets in a nest is perched above the main entry. Courtesy of Google Maps, ca2023

Bank Presidents and Cashiers during the National Bank Note Era (1879 - 1891):

Presidents:

• Frank Livingstone Underwood, 1880-1885
• William Bingham Clarke, 1886-1891

Cashiers:

• James Mitchell Coburn, 1880-1881
• Oliver Partridge Dickinson, 1882-1886
• George William McKnight, 1887-1888
• James Wotherspoon Barney, 1889-1891

Other Known Bank Note Signers

• Charles S. Wheeler (VP 1889...1891)

Bank Note History Links

• Merchants National Bank, Kansas City, MO History (NB Lookup)
• Missouri Bank Note History (BNH Wiki)

Sources

• Kansas City, 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