Montpelier National Bank, Montpelier, VT (Charter 857)

Original Series $2 bank note with pen signatures of C.A. Reed, Cashier and J.R. Langdon, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

Montpelier National Bank, Montpelier, VT (Chartered 1865 - Liquidated 1935)

Town History

NEEDED: a contemporary postcard or photo of the bank.

Montpelier (/mɒntˈpiːliər/) is the capital city of the U.S. state of Vermont and the seat of Washington County. As of the 2020 census, the population was 8,074 making Montpelier the least populous state capital in the United States. However, the daytime population grows to about 21,000, due to the large number of jobs within city limits. It was named after Montpellier, a city in the south of France.

Originally charted on August 14, 1781, the Town of Montpelier was granted municipal powers by the Governor of Vermont. The first permanent settlement began in May 1787, when Colonel Jacob Davis and General Parley Davis arrived from Charlton, Massachusetts. General Davis surveyed the land, while Colonel Davis cleared forest and erected a large log house on the west side of the North Branch of the Winooski River. His family moved in the following winter.

Colonel Davis selected the name "Montpelier" after the French city of Montpellier, capital of the department of Hérault. There was a general enthusiasm for things French as a result of the country's aid to the American colonies during the Revolutionary War. The settlement grew quickly, and by 1791 the population reached 117.

The Vermont College of Fine Arts is located in the municipality. Companies based in Montpelier include the National Life Group. Located in Montpelier are the New England Culinary Institute, the annual Green Mountain Film Festival and the headquarters of several insurance companies. The majority of businesses in the downtown area, mostly retail, are locally owned.

Montpelier had three National Banks chartered during the Bank Note Era, and two of those banks issued National Bank Notes.

Bank History

Organized February 11, 1865
Chartered March 3, 1865
Conservatorship May 25, 1933
Liquidated January 29, 1935
Succeeded by 13915 (Montpelier NB (No Issue), Montpelier, VT)

On March 3, 1865, the Comptroller of the Currency, Hugh McCulloch, authorized The Montpelier National Bank to begin business under the Act approved June 3, 1864. The directors were James R. Langdon, Elisha P. Jewett, Hon. Geo. C. Shepard, Rawsel R. Keith, Daniel Baldwin, Dennison Taft, and Carlos Bancroft. The bank had capital of $300,000 and was authorized to increase its capital to $500,000. It was located on State Street.

In January 1866 and 1867, the stockholders re-elected the same directors. Officers for 1867 were listed as J.R. Langdon, President; Geo. C. Shepard, Vice President; and C.A. Reed, Cashier.

In June 1880, new and dangerous counterfeit $5 notes were reported in circulation on the Montpelier National Bank as well as a counterfeit $100 on the Pittsburgh National Bank of Commerce.

Official Bank Title(s)

1: The Montpelier National Bank, Montpelier, VT

Bank Note Types Issued

Original Series $1 bank note with pen signatures of C.A. Reed, Cashier and George C. Shepard, Vice President. This is a corrected treasury SN error. A BEP worker erased the incorrect number of 444625 and the correct Treasury serial of 444615 was applied over the original. Courtesy of Heritage Auctions, www.ha.com

1882 Brown Back $10 bank note with pen signatures of L.H. Bixby, Cashier and A. Tuttle, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

1929 Type 1 $10 bank note with printed signatures of L.H. Bixby, Cashier and H.A. Farwell, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

Bank officers' signatures on checks from 1929, including L.H. Bixby, Cashier; H.L. Pierce, Assistant Cashier; and H.L. Farwell, President. Courtesy of Adam Stroup

A total of $5,000,610 in National Bank Notes was issued by this bank between 1865 and 1935. This consisted of a total of 654,412 notes (600,208 large size and 54,204 small size notes).

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

Series/Type	Sheet/Denoms	Serial#s	Sheet Comments
Original Series	3x1-2	1 - 9000
Original Series	4x5	1 - 9000
Original Series	3x10-20	1 - 6850
Original Series	50-100	1 - 150
Series 1875	4x5	1 - 9250
Series 1875	3x10-20	1 - 6930
1882 Brown Back	4x5	1 - 20103
1882 Brown Back	3x10-20	1 - 11929
1902 Red Seal	4x5	1 - 6300
1902 Red Seal	3x10-20	1 - 4180
1902 Date Back	4x5	1 - 11250
1902 Date Back	3x10-20	1 - 9100
1902 Plain Back	4x5	11251 - 40007
1902 Plain Back	3x10-20	9101 - 26428
1929 Type 1	6x5	1 - 4934
1929 Type 1	6x10	1 - 2696
1929 Type 1	6x20	1 - 724
1929 Type 2	5	1 - 2880
1929 Type 2	10	1 - 1100
1929 Type 2	20	1 - 100

Bank Presidents and Cashiers

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

Presidents:

Cashiers:

Other Known Bank Note Signers

No other known bank note signers for this bank

Bank Note History Links

Sources

Montpelier, VT, Wikipedia, https://en.wikipedia.org/wiki/Montpelier,_Vermont
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
Rutland Weekly Herald, Rutland, VT, Thu., Feb. 16, 1865.
The Daily Journal, Montpelier, VT, Wed., Jan. 10, 1866.
Orleans County Monitor, Barton, VT, Mon., June 28, 1880.