National Bank, Norwalk, CT (Charter 942)

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Needed: a contemporary postcard or photo of the bank.
Needed: a contemporary postcard or photo of the bank.

National Bank, Norwalk, CT (Chartered 1865 - Open past 1935)

Town History

Norwalk is a city located in southwestern Connecticut, in southern Fairfield County, on the northern shore of Long Island Sound. It lies within both the New York metropolitan area and the Bridgeport metropolitan area. Norwalk was originally settled in 1649, and is the sixth most populous city in Connecticut. According to the 2020 United States Census it has a population of 91,184.

Roger Ludlow purchased the areas east of the Norwalk river from Chief Mahackemo of the Norwaake (or Naramauke) Indians in 1640. Norwalk was settled in 1649, incorporated September 1651, and named after the Algonquin word noyank, meaning "point of land", or more probably from the native American name "Naramauke".

The Battle of Norwalk took place during the Revolutionary War, and led to the burning of most of the town. In 1836, the borough of Norwalk was created, covering the central area of the town. During the 19th and early 20th century, Norwalk was a major railroad stop for the New York, New Haven, and Hartford Railroad. The city of South Norwalk and the remaining parts of the town of Norwalk were both combined in 1910 to form the current city.

Norwalk had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes. Norwalk also had two Obsolete Banks that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).

Bank History

Bank of Norwalk, obsolete $1, Haxby CT-340, dated Sept. 5th, 1857 with pen signature of Eben Hill, President. The central vignette shows blacksmiths at work.
Bank of Norwalk, obsolete $1, Haxby CT-340, dated Sept. 5th, 1857 with pen signature of Eben Hill, President. The central vignette shows blacksmiths at work. Courtesy of Heritage Auctions, www.ha.com
  • Organized February 17, 1865
  • Chartered March 28, 1865
  • Succeeded Bank of Norwalk
  • Bank was Open past 1935
  • Merged with Stamford Trust Co. and the First National Bank of Greenwich (Charter 13042, non-issuing) to form the Fairfield County Trust Co. December 1957

In July 1857, the whole capital, $300,000, of the new Norwalk bank had been subscribed and the bank was expected to commence business in about sixty days. Ebenezer Hill was elected president.

The early morning of October 1, 1869, as some laborers at Norwalk, Conn., were on their way to work, they observed a couple of tin cashboxes in the street and some loose papers lying around. These led to inquiry, which resulted in the discovery that the National Bank of Norwalk had been robbed. The bank was a brick building with a handsome brown stone front situated on the south side of the principal street of the town, adjoining and west of the depot of the Danbury and Norwalk Railroad. The officers of the bank had felt very secure against theft, resting their faith chiefly on a Franklinite iron drill- and burglar-proof safe, made by Hendrickson, of Brooklyn, and on the vault itself, though this was chiefly considered as a protection against fire. From the appearances of the premises it was thought the burglars must have entered by the front door by means of false keys, locking the door behind them. They opened the doors of the vault by means of wedges. Once opened they had their choice of numerous cash boxes, bundles of more or less valuable papers, and documents, and baskets of silverware, deposited in the vault for safe keeping. The safe was their next obstacle. Apparently, they first tried to force the door or split the safe with wedges. They next tried the efficiency of powder, and, despite the warranty of Mr. Hendrickson and the confidence of the bank officials, their appeared to have had little difficulty in proving Mr. Hazard's powder superior to the warranted Franklinite. The charge was placed, the fuse laid and ignited, the vault deserted and the doors shut and the explosion awaited. The safe door was destroyed, the doors of the vault blown open with such force as to break the wall behind them; the plate glass windows in the front of the bank were also broken. At this juncture, a Mr. Parker, who lived next door to the bank, and whose bedroom was about twenty feet from the vault, was disturbed in his slumbers, got out of bed, went down to the sidewalk in front of the bank, saw the gas light burning as usual, and, seeing broken glass on the sidewalk, supposed some boy had thrown stones at and broken the glass of the lamp. Mr. Parker then returned to his bed. This was between three and four o'clock in the morning. The safe open, the enterprising gentlemen proceeded to help themselves to a little over $32,000 in cash, the property of the bank; $17,000 in United States 5-20s, $11,000 in Danbury and Norwalk Railroad bonds, $9,150 Burlington and Mississippi Railroad bonds, and a note for $10,000, the property of Mr. Eben Hill, the president of the bank. Much additional property was stolen to an amount estimated at not less that $150,000. About $80,000 in additional property could have been added to the haul. The burglars left behind a heavy copper sledge, a copper hammer, a full set of wedges, three canisters (two emptied of powder) two jimmies and material to blow the powder. By March 1870, some of the bonds were traced to a Broadway broker named William Okell. Mr. Okell, through his council, stated that he received the bonds in the regular way of business and had no suspicion they were stolen. In July 1871, William O. Keil, a broker in New York, was sentenced by Judge Cardozo to five years in the state prison for selling United States bonds stolen from the Norwalk National Bank.

In March 1915, Congressman E.J. Hill, for 25 years vice president of the National Bank of Norwalk, was elected president of that institution to succeed the late Eben Hill. For 32 years up to his death on Friday, Feb 2X, 1915, Mr. Eben Hill was the president. Congressman Hill had been connected with the bank for 37 years.

On July 9, 1924, C. William Gager, former assistant cashier, succeeded the late Henry P. Price as cashier. John P. Treadwell resigned as president to become chairman of the board of directors. He was succeeded by George L. Woodward.

Shareholders of Stamford Trust Co. approved the terms for merging with the First National Bank of Greenwich and the National Bank of Norwalk as previously recommended by the directors of the respective banks. Approval was given by 85% of the shares outstanding. Stockholders of the First National and National Bank of Norwalk planned meetings for December 2 to vote on the proposal. President Harold E. Rider of the Stamford Trust Co. said that upon completion of the merger, the Stamford Trust Co. would change its name to the Fairfield County Trust Co. and would have total resources of more than $110 million and combined capital, surplus and undivided profits of approximately $7 million. The new bank would operate fourteen offices throughout Norwalk, South Norwalk, Darien, Noroton Heights, Stamford, Old Greenwich Riverside, Greenwich and Glenville. The stockholders of the three institutions approved the merger which was effective January 1, 1958.

Official Bank Title(s)

1: The National Bank of Norwalk, CT

Bank Note Types Issued

Original Series $1 bank note with pen signatures of R.B. Craufurd, Cashier and Ebenezer Hill (I), President.
Original Series $1 bank note with pen signatures of R.B. Craufurd, Cashier and Ebenezer Hill (I), President. Courtesy of Lyn Knight Auctions, www.lynknight.com
Series of 1875 $5 bank note with pen signatures of H.P. Price, Cashier and E. Hill (I), President.
Series of 1875 $5 bank note with pen signatures of H.P. Price, Cashier and E. Hill (II), President. Courtesy of Heritage Auctions, www.ha.com
1882 Brown Back $5 bank note with pen signatures of H.P. Price, Cashier and E.J. Hill, Vice President.
1882 Brown Back $5 bank note with pen signatures of H.P. Price, Cashier and E.J. Hill, Vice President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1902 Plain Back $20 bank note with stamped signatures of H.P. Price, Cashier and J.P. Treadwell, President.
1902 Plain Back $20 bank note with stamped signatures of H.P. Price, Cashier and J.P. Treadwell, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1929 Type 1 $10 bank note with printed signatures of Charles W. Gager, Cashier and George L. Woodward, President
1929 Type 1 $10 bank note with printed signatures of Charles W. Gager, Cashier and George L. Woodward, President. Courtesy of Heritage Auctions, www.ha.com

A total of $7,805,180 in National Bank Notes was issued by this bank between 1865 and 1935. This consisted of a total of 1,003,389 notes (885,972 large size and 117,417 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 - 7000
Original Series 4x5 1 - 9905
Original Series 3x10-20 1 - 5000
Original Series 50-100 1 - 175
Series 1875 4x5 1 - 12500
Series 1875 3x10-20 1 - 4000
Series 1875 50-100 1 - 117
1882 Brown Back 4x5 1 - 28125
1882 Brown Back 3x10-20 1 - 18993
1902 Red Seal 4x5 1 - 8250
1902 Red Seal 3x10-20 1 - 5600
1902 Date Back 4x5 1 - 22750
1902 Date Back 3x10-20 1 - 18300
1902 Plain Back 4x5 22751 - 71955
1902 Plain Back 3x10-20 18301 - 50019
1929 Type 1 6x5 1 - 8724
1929 Type 1 6x10 1 - 5058
1929 Type 1 6x20 1 - 1308
1929 Type 2 5 1 - 15976
1929 Type 2 10 1 - 8898
1929 Type 2 20 1 - 2003

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1936):

Presidents:

Cashiers:

Other Bank Note Signers

  • Ebenezer John Hill signed notes as Vice President
  • There are currently no known Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

  • Norwalk, CT, Wikipedia, https://en.wikipedia.org/wiki/Norwalk,_Connecticut
  • 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
  • Hartford Courant, Hartford, CT, Thu., July 16, 1857.
  • The Daily Evening Express, Lancaster, PA, Mon., Oct. 4, 1869.
  • The Philadelphia Inquirer, Philadelphia, PA, Thu., Mar. 24, 1870.
  • Connecticut Western News, Salisbury, CT, Fri., July 21, 1871.
  • The Bridgeport Times and Evening Farmer, Bridgeport, CT, Thu., Mar. 4, 1915.
  • The Bridgeport Telegram, Bridgeport, CT, Thu., July 10, 1924.
  • Hartford Courant, Hartford, CT, Sun., Nov. 24, 1957.
  • The Bridgeport Post, Bridgeport, CT, Sat., Dec. 14, 1957.