National Bank/NB & TC, Kennett Square, PA (Charter 2526)

Needed: a contemporary postcard or photo of the bank.

National Bank/NB & TC, Kennett Square, PA (Chartered 1881 - Closed (Merger) 1982)

Town History

Kennett Square is a borough in Chester County, Pennsylvania. It is known as the Mushroom Capital of the World because mushroom farming in the region produces over 500 million pounds of mushrooms a year, totaling half of the United States mushroom crop. Florist William Swayne is largely credited with bringing the mushroom business to the region in 1885, according to the Mushroom Farmers of Pennsylvania. To celebrate this heritage, Kennett Square has an annual Mushroom Festival, where the town shuts down to have a parade, tour mushroom farms, and buy and sell food and other goods. Located in the Delaware Valley, Kennett Square is considered a suburb of both Philadelphia, Pennsylvania and Wilmington, Delaware. The US census of 2020 recorded a population of 5,936 in Kennett Square. In 1870, the population was 884 and by 1900 it was 1,516.

The town was named Kennet Square, with the name "Kennet", England, and "Square" coming from the original land grant from William Penn of one square mile. General Sir William Howe marched through Kennett to the Battle of Brandywine during the American Revolution. It was also known as an important part of the Underground Railroad, which helped slaves escaping to the North for freedom. In 1853, a group asked for Kennett Square to be incorporated, and by 1855 it held elections. Kennett Square's founder is credited with introducing mushroom growing to the area. He grew carnations, a popular local commodity around 1885, and wanted to make use of the wasted space under the elevated beds. He imported spawn from Europe and started experimenting with mushroom cultivation.

Kennett Square had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.

Bank History

• Organized April 26, 1881
• Chartered May 16, 1881
• 1: Assumed The Kennett Trust Company by consolidation June 30, 1930 with title change
• Bank was Open past 1935
• For Bank History after 1935 see FDIC Bank History website
• Merged into American Bank & Trust Co. of PA in Reading, PA, March 27, 1982

A competitive examination for a clerk in the National Bank of Kennett Square was held and Miss Jessie Philips was selected. She began work on Tuesday, February 12, 1889.

In June 1894 a number of papers ran the following: Young Women Run the Bank. Kennett Square, Pa. June 19. The entire business of the National Bank of Kennett Square is now being carried on by young women. The cashier is enjoying his vacation and the teller and bookkeepers being young women have assumed charge of affairs.

In January 1896, stockholders elected the following directors: E.B. Darlington, E.R. Green, Ellwood Michener, William R. Chambers, T.E. Marshall, P.M. Pyle, and Milton Mendenhall.

Official Bank Title(s)

1: The National Bank of Kennett Square, PA

2: National Bank and Trust Company of (6/30/1930), Kennett Square, PA

Bank Note Types Issued

1882 Date Back $20 bank note with stamped signatures of D. Duer Philips, Cashier and E.B. Darlington, President. Courtesy of Heritage Auctions, www.ha.com

1902 Plain Back $10 bank note withprinted signatures of D. Duer Philips, Cashier and T.E. Marshall, President. Courtesy of Heritage Auctions, www.ha.com

1929 Type 1 $10 bank note with printed signatures of M.P. Darlington, Cashier and T. Clarence Marshall, President. Courtesy of Heritage Auctions, www.ha.com

1929 Type 2 $20 bank note with printed signatures of J. Walter Jefferis, Cashier and T. Clarence Marshall, President. Courtesy of Heritage Auctions, www.ha.com

A total of $2,692,950 in National Bank Notes was issued by this bank between 1881 and 1982. This consisted of a total of 237,552 notes (186,558 large size and 50,994 small size notes).

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

Series/Type	Sheet/Denoms	Serial#s	Sheet Comments
1: Series 1875	4x5	1 - 17804
1: Series 1875	50-100	1 - 178
1: 1882 Brown Back	3x10-20	1 - 1500
1: 1882 Brown Back	50-100	1 - 1767
1: 1882 Date Back	3x10-20	1 - 8100
1: 1882 Date Back	50-100	1 - 200
1: 1882 Value Back	3x10-20	8101 - 13207
1: 1902 Plain Back	3x10-20	1 - 13056
1: 1929 Type 1	6x10	1 - 1232
1: 1929 Type 1	6x20	1 - 420
2: 1929 Type 1	6x10	1 - 3932
2: 1929 Type 1	6x20	1 - 1168
2: 1929 Type 2	10	1 - 8307
2: 1929 Type 2	20	1 - 2175

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1881 - 1982):

Presidents:

• John Marshall, 1881-1884
• Edward B. Darlington, 1885-1915
• Thomas Elwood Marshall, 1916-1928
• Thomas Clarence Marshall, 1929-1935

Cashiers:

• David Duer Philips, 1881-1927
• Morton P. Darlington, 1928-1932
• J. Walter Jefferis, 1933-1935

Other Bank Note Signers

• There are currently no known Vice President or Assistant Cashier bank note signers for this bank.

Wiki Links

• Pennsylvania Bank Note History
• General information on Kennett Square (Wikipedia)
• General information on Chester County (Wikipedia)
• General information on Pennsylvania (Wikipedia)

Sources

• Kennett Square, PA, Wikipedia, https://en.wikipedia.org/wiki/Kennett_Square,_Pennsylvania
• 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
• The Evening Journal, Wilmington, DE, Mon., Feb. 11, 1889.
• Harrisburg Telegraph, Harrisburg, PA, Wed., June 20, 1894.
• The Philadelphia Inquirer, Philadelphia, PA, Sun., Jan. 19, 1896.