National Bank, Orange, VA (Charter 5438)
National Bank, Orange, VA (Chartered 1900 - Closed (Merger) 1970)
Town History
Orange is a town and the county seat of Orange County, Virginia. Orange is 28 miles northeast of Charlottesville, 88 miles southwest of Washington, D.C., and 4 miles east of Founding Father and fourth U.S. president James Madison's plantation of Montpelier. The population was 4,880 at the 2020 census. In 1880 the population was 547, growing to 1,381 by 1930.
The present-day Town of Orange was known as the Town of Orange Court House prior to the late 19th century. Following the establishment of Culpeper County from a part of Orange County in 1749, the courthouse was relocated to Orange Court House from elsewhere in the county.
Orange was a strategically important location during the American Civil War. Just north of town, the Rapidan River was effectively the northern border of the Confederacy from March 1862 to May 1864. Consequently, the area witnessed countless troop movements, patrols, skirmishes, and encampments. In addition, the Town of Orange served as General Robert E. Lee's headquarters during that time. General Lee worshipped at the St. Thomas Episcopal Church. This church is also significant as it served as a hospital for Confederate wounded after the Battle of Chancellorsville and the Battle of the Wilderness. Lee passed by this church many times during his stay in Orange. Mort Künstler, an artist of American historical subjects, immortalized this scene in his painting Soldier of Faith. County records dating back to its founding in 1734 were protected by a clerk of court removing them to "a place of safety" as Federal troops were moving through Orange and towards Richmond.
Numerous buildings constructed soon after the Civil War stand in the downtown historic district. Following Virginia's readmission to the Union in 1870, Orange Court House officially became a town in 1872 when the petition (required by the 1855 General Assembly act) for an election of town trustees was filed in the court. The first town council meeting was held on June 28, 1872. In 1890, the village changed its name officially to the current-day Town of Orange.
The economy and population continued to grow up until the time of a fire in 1909, which destroyed most of the eastern portion of town. Like nearby Gordonsville, Orange's importance as a railroad hub began declining in the early 20th century. Because of its location at the confluence of two major roadways and the establishment of the Orange Automobile Club in 1910, the town became a regional center for automobile sales and services. Its accessibility allowed it to maintain a relatively healthy economy through the Great Depression.
A notable company in Orange during that period was American Silk Mills, Inc., which was established in 1929 and processed raw silk into a finished material. During World War II, the mill was awarded a presidential citation for its production of parachutes for Allied troops.
Orange had three National Banks chartered during the Bank Note Era, the National Bank of Orange (Charter 5438), the American National Bank (Charter 5532), and the Citizens National Bank, (Charter 7150), and all three of those banks issued National Bank Notes.
Bank History
- Organized May 29, 1900
- Chartered June 18, 1900
- Succeeded State Bank of Orange
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Merged into National Bank and Trust Company in Charlottesville, VA, August 31, 1970
On September 20, 1892, it was reported that Judge Grimsley had granted a charter to the "State Bank of Orange."[4] The State Bank of Orange planned to open October 1st with the following officers: S.R. Nelson, president; J.W. Morton, vice president; M.G. Field, cashier; T.W. Bend, C.W. Woolfolk, J.H. Johnson, W.O. Blakey, and W.C. Graves, directors. The large east room on the first floor of the Williams iron front building had been fitted up for the bank. he capital was $15,000. The institution was one The Orange Observer had earnestly advocated for over the past 11 years. The paper predicted a successful career.[5] In December, Mr. Maxey G. Field was in Gordonsville and it was suggested that he might be looking out for a suitable building to open a branch of their growing business.[6] [The bank first opened for business the morning of October 6, 1892.]
On December 13, 1893, the State Bank of Orange at a meeting of the board of directors decided to go into voluntary liquidation. No reasons were given for the action and the bank was perfectly solvent.[7] The next day it was announced that the bank would not go into voluntary liquidation, but would increase its capital and remain in business. The only change in its officers was the election of Mr. Thomas W. Bond, president, who would succeed Mr. S.R. Nelson. Mr. Bond was the wealthiest citizen in Orange and enjoyed the confidence of the entire community. During the recent panic the State Bank of Orange never refused currency to its customers.[8]
In April 1894, Mr. C.C. Taliaferro was elected a director of the State Bank of Orange.[9]
On Tuesday, January 8, 1895, stockholders elected the following board of directors for the ensuing year: T.W. Bond, J.W. Morton, M.G. Field, W.H. Ricketts, J.B. Houseworth, C.W. Woolfolk, T.O. Gillum, W.O. Blakey, and C.C. Taliaferro. The directors re-elected president Bond, Vice President Morton, Cashier Field, and Assistant Cashier R.C. Slaughter.[10] On June 16th, about 3:30 o'clock in the morning, fire was discovered in the building occupied by the State Bank of Orange and owned by Judge William G. Williams. The loss on the building was about $1,000, no insurance. Judge Browning lost about $100 on his law books, occupying an upper room.[11]
In January 1899, the stockholders elected the following directors: T.W. Bond, Frank B. Perry, Jas. W. Morton, T.O. Gillium, W.D. Sale, W.W. Sanford, C.C. Taliaferro, W.O. Blakey and M.G. Field. The board of directors re-elected Mr. Thos. W. Bond, president; Jas. W. Morton, vice president; M.G. Field, cashier and R.C. Slaughter, assistant cashier.[12]
On June 18, 1900, the comptroller's certificate authorizing the National Bank of Orange, Virginia, was issued. The capital was $25,000 and the officers were T.W. Bond, president, and M.G. Field, cashier.[13] The bank commenced business on July 2d. The Orange Observer predicted a much larger measure of success than it had while known as the State Bank of Orange.[14]
On August 6, 1901, at a special meeting of the directors, a contract was let to the Charlottesville Lumber Company for the new bank building. The plans were drawn by Noland & Baskerville, the Richmond architects. The building would be 25X50 feet with walls of gray pressed brick with a plate-glass front and the windowsills of Kentucky bluestone. The first floor would be used exclusively for banking purposes, including the counting room, steel vault and private offices for president and cashier. The floor would be laid with mosaic tiling and the roof would be slate. The second floor would be set up for offices.[15] On Thursday morning, December 5th, Orange narrowly escaped a destructive fire. At about ten o'clock, a tremendous volume of smoke was seen issuing from the roof of the building occupied by the National Bank of Orange, Waite & Chewning, and A.T. Browning. The discovery was made by Miss Bertha Robbinson, associate editor of The Observer and the alarm given. The hook and ladder truck was soon in position and with four men handling the pump, a steady stream of water flowed through the hose and extinguished the flames in about an hour. The bucket brigade did excellent work in keeping the tank full. The fire originated from a defective flue. Attorney Browning relocated over McMugran's drug store and the bank opened up in the old post office building. Waite & Chewning's stock of furniture was badly damaged by water.[16] By the end of the year, a very handsome building for the National Bank of Orange had just been completed at a cost of $10,000 and also a new post office building. An electric light plant was under contract by the town which would be in operation by January 15th. A fire department had been established, and one engine had been secured, and another would soon be acquired. The Orange mills were doing the largest business in their history and meal from them was being shipped in large quantities to many points.[17] The National Bank of Orange expected to move into its building by the end of January.[18]
In January 1921, The National Bank of Orange had capital $100,000, and surplus $40,000. The directors were L.S. Ricketts, F.B. Perry, M.G. Field, T.O. Gillum, W.W. Sanford, W.C. Graves, C.C. Taliaferro, R.B. Harris, V.R. Shackelford, Allan B. Warren, W.K. Clarke, and W. Robinson Tinder. The officers were M.G. Field, president; Frank B. Perry, vice president; T.O. Gillum, 2d vice president; C.W. Grim, cashier; and W.D. Lillard, assistant cashier.[19]
In January 1936, Dr. L.S. Ricketts, owner and proprietor of Ricketts Drug Store for over 50 years, sold the business to Dr. E.H. Rouse, associated with him for many years, who would continue under the same stand and name and style of the Ricketts Drug Store. Dr. Ricketts, retiring from the active business world here ends a career which has been active and successful and equaled by but few other men in Orange business life. Starting Nov. 8, 1888, at the age of 20, he bought out the business of the late Dr. J. Blair Robertson. Dr. Robertson was here for à few years succeeding Joseph Johnson and Dr. E.W. Row in the conduct of Orange's first drug store, started by Dr. Taliaferro, continued by him for many years, then conducted by his son Dr. Horace Taliaferro, who sold out to Johnson & Row. The place of business: was then on Railroad Ave., where all business of the town was conducted. It was destroyed by fire in 1908 along with a large section which went up in smoke on that memorable occasion. Almost immediately Dr. Ricketts acquired his present site and in 90 days a new building was erected and occupied, making 27 years in the present location. During this long period of nearly a half century Dr. Ricketts had been active and identified in many other activities of community life. He has been associated with the National Bank of Orange, as a stockholder, vice-president and director since its organization in 1892. For 18 years he was secretary and manager of the Orange Horse Show Association, president of the Orange Business Men’s Association for 30 years; and had always been active in promoting advancement of the town's welfare. Taking much interest in sports, Dr. Ricketts was for years manager of the Tomahawk Club of horsemen presenting exhibits in shows all over the state. He found time to lend active aid and support to organization of the present day efficient volunteer fire department as a result of the heavy loss suffered in the conflagration of 1908. Dr. Ricketts was a native of Orange where he was born in 1867, the son of Capt. W.H. Ricketts. Capt. Ricketts was a native of Rappahannock, settling in Orange after a long and honorable service in the War Between the States. Mr. Ricketts served Orange for many years as county treasurer. When he died in. 1909. Dr. Ricketts was appointed by the court and filled his unexpired term of three years.[20]
On Friday, February 13, 1948, William M. Early, formerly of Salem, was elected president of the National Bank of Orange. He was connected with the Bank of Salem for many years, resigning in January 1946 to become executive vice president of the National Bank of Orange. Mr. Early succeeded Dr. Lawrence Ricketts as president.[21]
On Friday, May 29, 1953, the public was invited to attend an open house celebrating the recently remodeled quarters of the National Bank of Orange.[22] The bank first opened on October 6, 1892, and the latest refurbishing marked the second time in the bank's history that it had been renovated, once in 1936 and this time. There were souvenirs, refreshments and other prizes. The "Bank with the Chime Clock" would set aloft 100 helium filled ballons, the finders of which would receive $1. The color scheme of the bank's interior worked out by interior decorators of the American Furniture & Fixture Company and Bank President William M. Early, Jr., blended with the soft lighting and light colored acoustical ceiling. Beautiful draperies adorned each window and potted plants had their own built-in nooks. Visitors to the bank got a chance to see various types of older coins, current high-value notes and the new vault. They also saw the proof machine which cleared all items through the bank each day and the Recordak, a machine that photostats each check drawn on out-of-town banks.[23]
In January 1959, the officers were Frank S. Walker, chairman of the board, president and trust officer; James R. Austin, executive vice president and assistant trust officer; J. Hayward Gillum, vice president; J.M. Myers, vice president and assistant trust officer; Lyne M. Shackelford, cashier; Charles D. DuVal and Walter R. Hudson, assistant cashiers.[24]
On Wednesday, January 13, 1960, a banquet meeting of stockholders was held at the Orange County High School. James R. Auston was named president and Frank S. Walker was re-appointed chairman of the board. Other officers named were J.H. Gillum, vice president; Jos. M. Myers, vice president and trust officer; Lyne M. Shackelford, vice president and cashier; Charles D. Duval and Walter R. Hudson, assistant cashiers. The following directors were elected: James R. Austin, Harrison P. Bresee, John C.W. Dix, J.H. Gillum, W.T. Green, Otis B. Jones, Jack P. Maddex, Alfred P. Moore, Woodbury S. Ober, V.R. Shackelford, Jr., Frank S. Walker, Goree A. Waugh, and Wyatt A. Williams. The National Bank of Orange had more than $8 million in total resources and trust accounts amounted to $436,000. Mr. Austin reported the gross earning were a record $329,000. Following Mr. Austin's report, V.R. Shackelford, Jr, reported to the stockholders the directors' position on the merger of the Citizens National Bank of Orange with the Peoples National Bank of Charlottesville. He said, "We oppose this proposed merger as being contrary to the best interests of the people and business concerns of Orange County. We have filed a formal protest with the Comptroller of the Currency and we expect to do everything we can under the law to maintain independent banking in Orange County."[25]
On March 26, 1970, James R. Austin, president of the Orange bank and Hovey S. Dabney, president of the Charlottesville bank, announced that the directors of the National Bank of Orange and National Bank and Trust Company, Charlottesville, approved in principle a merger between the two banks. The plan called for an exchange of 2 3/4 shares of NB Corporation for each share of the Orange bank. The NB Corporation was the holding company of which National Bank was the sole subsidiary. The National Bank of Orange had one branch office in Orange and December 31 deposits totaling $14,556,000. National Bank and Trust Company operated 14 branch offices in five central Virginia counties and showed deposits of $89,488,000 at the end of 1969. The total assets of the combined banks as of that date was $118,268,000, making it the twelfth largest bank in Virginia.[26]
On June 10, 1971, Frank Stringfellow Walker, 88, of Rosni Madison Mills, died in the Gordonsville Hospital. He was the last surviving son of Captain Robert Stringfellow Walker, CSA, founder of Woodberry Forest School. He was born at Woodberry Forest and attended school there, graduating in 1903. After graduating from VPI in 1905, he returned to his grand-father's farm, "Rosni," where he established one of the finest Holstein herds in Virginia. In 1914 Mr. Walker became a member of the Board of Regents of Woodberry Forest School and continued until 1926 when he became a trustee, serving as president of the board and chairman of its executive committee for 36 years. He was elected to the board of the National Bank of Orange in 1921 and was chairman of the board there from 1929 until his retirement in 1966. He served as president of the bank from 1958-60. He was president of the Maryland-Virginia Milk Producers Association, president of Virginia State Dairymen's Association, and vice president of the Holstein-Friesian Association of American.[27]
Official Bank Title
1: The National Bank of Orange, VA
Bank Note Types Issued
A total of $1,546,240 in National Bank Notes was issued by this bank between 1900 and 1935. This consisted of a total of 124,889 notes (92,580 large size and 32,309 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 - 1800 1882 Date Back 3x10-20 1 - 2060 1882 Value Back 3x10-20 2061 - 6720 1902 Plain Back 3x10-20 1 - 14625 1929 Type 1 6x10 1 - 3270 1929 Type 1 6x20 1 - 818 1929 Type 2 5 1 - 324 1929 Type 2 10 1 - 5613 1929 Type 2 20 1 - 1844
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1900 - 1935):
Presidents:
- Thomas W. Bond, 1900-1903
- John Green Williams Sr., 1904-1911
- Judge James William Morton, 1912-1913
- Maxey Gregg Field, 1913-1928
- Dr. Frank Brummitte Perry, 1929-1935
Cashiers:
- Maxey Gregg Field, 1900-1913
- Jackson Morton, 1913-1918
- Carl W. Grim, 1919-1928
- Giles Henry Miller, Jr., 1929-1929
- Byrd Ashton Smith, 1930-1935
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Orange, VA, 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
- ↑ Orange County Review, Orange, VA, Thu., May 28, 1953.
- ↑ Richmond Times-Dispatch, Richmond, VA, Wed., Feb. 4, 1925.
- ↑ Orange County Review, Orange, VA, Thu., Jan. 1, 1970.
- ↑ The Free Lance-Star, Fredericksburg, VA, Tue., Sep. 20, 1892.
- ↑ The Orange Observer, Orange, VA, Fri., Sep. 30, 1892.
- ↑ The Orange Observer, Orange, VA, Fri., Dec. 30, 1892.
- ↑ The Virginian-Pilot, Norfolk, VA, Fri., Dec. 8, 1893.
- ↑ Richmond Dispatch, Richmond, VA, Thu., Dec. 14, 1893.
- ↑ The Orange Observer, Orange, VA, Fri., Apr. 27, 1894.
- ↑ The Orange Observer, Orange, VA, Fri., Jan. 11, 1895.
- ↑ Alexandria Gazette, Alexandria, VA, Mon., June 17, 1895.
- ↑ The Free Lance-Star, Fredericksburg, VA, Sat., Jan. 14, 1899.
- ↑ Richmond Times-Dispatch, Richmond, VA, Thu., June 21, 1900.
- ↑ The Orange Observer, Orange, VA, Fri., June 29, 1900.
- ↑ Richmond Dispatch, Richmond, VA, Wed., Aug. 7, 1901.
- ↑ The Orange Observer, Orange, VA, Fri., De. 6, 1901.
- ↑ Richmond Times-Dispatch, Richmond, VA, Wed., Jan. 1, 1902.
- ↑ The Orange Observer, Orange, VA, Fri., Jan. 17, 1902.
- ↑ The Orange Observer, Orange, VA, Fri., Jan. 7, 1921.
- ↑ Orange County Review, Orange, VA, Thu., Jan. 2, 1936.
- ↑ The Roanoke Times, Roanoke, VA, Sat., Feb. 14, 1948.
- ↑ Orange County Review, Orange, VA, Thu., May 14, 1953.
- ↑ Orange County Review, Orange, VA, Thu., May 21, 1953.
- ↑ Orange County Review, Orange, VA, Thu. Jan. 15, 1959.
- ↑ Orange County Review, Orange, VA, Thu., Jan. 14, 1960.
- ↑ Orange County Review, Orange, VA, Thu. Mar. 26, 1970.
- ↑ Orange County Review, Orange, VA, Thu., June 17, 1971.