National Bank, Savannah, GA (Charter 3406)
National Bank, Savannah, GA (Chartered 1885 - Liquidated 1919)
Town History
Savannah is the oldest city in the U.S. state of Georgia and is the county seat of Chatham County. Established in 1733 by General James Oglethorpe on the Savannah River, the city of Savannah became the British colonial capital of the Province of Georgia and later the first state capital of Georgia. A strategic port city in the American Revolution and during the American Civil War, Savannah is today an industrial center and an important Atlantic seaport. It is Georgia's fifth-largest city, with a 2020 U.S. Census population of 147,780. The Savannah metropolitan area, Georgia's third-largest, had a 2020 population of 404,798.
Each year Savannah attracts millions of visitors to its cobblestone streets, parks, and notable historic buildings. These buildings include the birthplace of Juliette Gordon Low (founder of the Girl Scouts of the USA), the Georgia Historical Society (the oldest continually operating historical society in the South), the Telfair Academy of Arts and Sciences (one of the South's first public museums), the First African Baptist Church (one of the oldest African-American Baptist congregations in the United States), Temple Mickve Israel (the third-oldest synagogue in the U.S.), and the Central of Georgia Railway roundhouse complex (the oldest standing antebellum rail facility in the U.S.).
Savannah was named for the Savannah River, which probably derives from variant names for the Shawnee. Downtown Savannah largely retains the original town plan prescribed by founder James Oglethorpe (a design now known as the Oglethorpe Plan).
Savannah had seven National Banks chartered during the Bank Note Era, and five of those banks issued National Bank Notes. Savannah also had 17 Obsolete Banks that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).
Bank History
- Organized October 15, 1885
- Chartered October 31, 1885
- Liquidated August 25, 1919
- Absorbed by Hibernia Bank of Savannah
On October 19, 1885, the stockholders of the new bank, the National Bank of Savannah, met at Metropolitan Hall and elected the following Board of Directors: Herman Myers, William Garrard, J.J. Dale, A. Vetsburg, W.E. Guerard, John Schwarz, F.X. Douglass, J.P. Williams, Henry Bendheim, E.J. Acosta, Jr., and A. Backer of New York. The directors planned to have the bank open for business, if possible, by November 10th.
On October 31st, the Treasury Department authorized The National Bank of Savannah to begin business, charter No. 3406, capital $200,000. Herman Myers was president and Thomas F. Thomson, cashier. On Tuesday, November 10, 1885, the bank opened its doors and began business.
On January 13, 1886, the stockholders elected the following Board of Directors: Herman Myers, Joseph J. Dale, William E. Guerard, E.J. Acosta, Jr., Frank X. Douglass, William Guerard, Abraham Vetsburg, Henry Bendheim, Jesse P. Williams, John Schwarz, and A. Backer.
On January 9, 1900, the National Bank of Savanna and the Oglethorpe Savings and Trust Company held their annual meetings. In each instance the entire board of directors was reelected for the ensuing year. The directors elected for the National Bank were: Herman Myers, Joseph J. Dale, George J. Baldwin, W.W. Williamson, Joseph W. Jackson, Joseph Rosenheim, J.S. Collins, Jacob Paulsen. A.B. Palmer, Sigo Myers, and E.S. Ettenheimer. The Oglethorpe Savings and Trust Company directors elected were: Jos. J. Dale, Herman Myers, David Wells, Samuel Meinhard, C.C. Schley, R.J. Nunn, Jacob Paulsen, A. Leffler, and J.E. Grady, Jr. After the elections the members of the two boards, with their stockholders and friends, united in enjoying an elaborate lunch which had been set in the president’s office. The supply was as bounteous as the viands were choice and the officers and directors of the two institutions proved most genial hosts. Yesterday was the fifteenth anniversary of the founding of the National Bank. Hon. J.J. Dale recalled the fact that Mayor Myers and himself were the only two of the original directors who were still on the board.
On June 5, 1919, Richard R. Withington, cashier, resigned after many years of service. Joseph R. Weeks, assistant cashier, was elected to succeed him. On July 19, 1919, the purchase of control of the National Bank of Savannah by the Hibernia Bank of Savannah was announced. The Hibernia would absorb the National and join the Federal Reserve System. The National Bank of Savannah was founded by Herman Meyers, former mayor of Savannah in 1885. Jacob Collins, locally prominent in politics and financial circles for many years, was president of the National Bank. M.A. O'Byrne was president of the Hibernia which he organized thirteen year earlier. The National had a capital of $400,000 and deposits of more than $3,000,000. The Hibernia had a capital of $200,000 and deposits of more than $2,000,000. The merger was subject to approval by the comptroller of the currency. On October 3rd, approval came from the controller of the currency. F.D. Bloodworth was appointed liquidating agent.
On December 8, 1919, the Supreme Court decided national banks had the right to charge interest in excess of the maximum allowed under state laws. The case was brought by the Citizens and Scriven County bank against the National Bank of Savannah, the claim being that the national bank violated the state law by deducting interest in advance from the total loan, making the interest figured on the amount received instead of the face value of the loan exceed eight per cent, the maximum in Georgia.
Shortly, the Oglethorpe Savings and Trust Co. would move back home. It was for a number of years in the large building on Broughton and Bull Streets owned by the National Building Company. It owned a half interest in this skyscraper and the National Bank of Savannah owned the other half. When the National Bank was bought by the Hibernia Bank, there was still a divided interest. Recently Mr. J.S. Collins, president of the Oglethorpe asked Mr. M.A. O’Byrne, president of the Hibernia Bank to put a price on his half of the building. In March 1920, Mr. Byrne did and Mr. Collins bought it. There would be some changes made in the structure to accommodate the new owner—rather the former half owner--who now had the whole building.
In March 1921, the Citizens & Southern Bank absorbed the Hibernia Bank of Savannah and the business of that bank would be conducted under the name of the Citizens & Southern Bank. The announcement was made by Mills B. Lane, president of the Citizens & Southern Bank.
Official Bank Title(s)
1: The National Bank of Savannah, GA
Bank Note Types Issued
A total of $3,968,950 in National Bank Notes was issued by this bank between 1885 and 1919. This consisted of a total of 465,028 notes (465,028 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 - 13207 1902 Red Seal 4x5 1 - 6500 1902 Red Seal 3x10-20 1 - 3400 1902 Date Back 4x5 1 - 28500 1902 Date Back 4x10 1 - 22750 1902 Date Back 3x10-20 1 - 15200 1902 Plain Back 4x5 28501 - 43470 1902 Plain Back 4x10 22751 - 34480
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1885 - 1919):
Presidents:
Cashiers:
- Thomas Freeman Thomson, 1886-1895
- Francis Douglas Bloodworth, 1896-1912
- Richard Randolph Withington, 1913-1918
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Savannah, GA, 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
- Savannah Morning News, Savannah, GA, Tue., Oct. 20, 1885.
- Savannah Morning News, Savannah, GA, Wed., Nov. 11, 1885.
- Pittsburgh Post-Gazette, Pittsburgh, PA, Fri., Nov. 6, 1885.
- The Macon Telegraph, Macon, GA, Thu., Jan. 14, 1886.
- The Morning News, Savannah, GA, Wed., Jan. 10, 1900.
- The Macon Telegraph, Macon, GA, Fri., June 6, 1919.
- The Macon Telegraph, Macon, GA, Sun., July 20, 1919.
- The Atlanta Constitution, Sat., Oct. 4, 1919.
- The Pittsburgh Press, Pittsburgh, PA, Mon., Dec. 8, 1919.
- The Macon News, Macon, GA, Thu., Apr. 1, 1920.
- The Macon News, Macon, GA, Fri., Mar. 4, 1921.