National Bank/National Bank & Trust Co., Port Jervis, NY (Charter 1363)

Postcard of the Farnum Building in Port Jervis, New York ca1900s. The National Bank of Port Jervis, Post Office, and Masonic Hall are shown. Courtesy of Adam Stroup

National Bank/NB & TC, Port Jervis, NY (Chartered 1865 - Open past 1935)

Town History

Postcard of the new National Bank of Port Jervis, New York, ca1910s. Courtesy of Adam Stroup

Port Jervis is a city located at the confluence of the Neversink and Delaware rivers in western Orange County, New York, north of the Delaware Water Gap. It lies near the points where the states of New York, New Jersey and Pennsylvania come together. Its population was 8,828 at the 2010 census. The communities of Deerpark, Huguenot, Sparrowbush, and Greenville are adjacent to Port Jervis. Matamoras, Pennsylvania, is across the river and connected by bridge. Montague Township, New Jersey, borders here.

Port Jervis was part of early industrial history, a point for shipping coal to major markets to the southeast by canal and later by railroads. After the Delaware and Hudson (D&H) Canal was opened in 1828, providing transportation of coal from northeastern Pennsylvania to New York and New England via the Hudson River, trade attracted money and further development to the area. A village was incorporated in 1853. It was renamed as Port Jervis in the mid-19th century, after John Bloomfield Jervis, chief engineer of the D&H Canal. Port Jervis grew steadily into the 1900s, and on July 26, 1907, it became a city.

Port Jervis had the National Bank of Port Jervis, chartered 1865, and it issued National Bank Notes. A second National Bank chartered in 1863 at Delhi, New York, moved to Port Jervis in 1870, requiring an act of Congress at the time. This bank, The First National Bank of Port Jervis, also issued National Bank Notes. Port Jervis also had one Obsolete Bank that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).

Bank History

Organized Jun 19, 1865
Chartered Jun 29, 1865
Conversion/Succeeded Bank of Port Jervis
1: Closed Dec 19,1899
1: Resumed Mar 5, 1900
Bank was Open past 1935

On the Night of November 29, 1869, the National Bank of Port Jervis was entered and robbed of a large amount of currency as well as Government bonds and other securities. Thieves entered through a back window in the rear of the Directors' room, cutting rivets holding iron blinds with a cold chisel. The bank building was constructed of stone with iron shutters on windows. The vault was 6X8X10 feet and constructed of stone with a 3,500-pound iron door about three-quarters of an inch thick securing the entrance. By driving steel wedges into the side and underneath the door, an opening of about half an inch was made and packed with powder and ignited by a fuse. The door and frame were blown completely off, falling over and crushing a desk. The inner door was pried open and hinges cut to gain access to the vault.

Losses included: Legal Tender Notes, all denominations, $19,072; National Bank Notes $4,187; Fractional Currency $416.75; Gold Coin $400; Silver Coin $400; 60 Sheets unsigned National Bank Notes $1,200; A list of the securities stolen was provided and the public warned against purchasing the same. A $10,000 reward was offered for the detection of the robbers and recovery of the property belonging to the bank, or 25% of all that part recovered. The bank procured a new Herring's safe to replace the one one blown open by the thieves. Arrests of James McWilliams of Jersey City, James Addeson and Thomas Scott, both from England, were made on December 1, 1869.

In January 1892, the Directors were Francis Marvin, Thomas Sharp, O.P. Howell, P.E. Farnum, Robert Jordan, L.E. Carr, George Malven, A.T. Porter and W.E. Scott with W.E. Scott, cashier, L.E. Goldsmith, assistant cashier and J.W. Gordon, bookkeeper.

In November 1899, Lewis E. Goldsmith, assistant cashier of the National bank of Port Jervis was reportedly short of between $20,000 and $25,000. The bank indicated it would meet the loss without going under. Goldsmith was a popular man and his integrity was never questioned. The shortage was discovered on November 15 by bank examiner Bryan, who discovered discrepancies over the past two years. The arrest of the young man was not expected as the deficiency was to be made good by the Hon. Francis Marvin, former congressman and one of the wealthiest men in Port Jervis. On December 29, 1899, Goldsmith surrendered himself to United States Marshal Henkel in New York City. He left Port Jervis four days before a warrant was issued for his arrest and had been a fugitive since. He was held on $10,000 bail before an appearance before the grand jury; his arm was in a sling and he said he had fallen off a train and broken his collar bone. His confession appeared in January 1900. He was sentenced on January 13, 1900 to eight years in Sing Sing for having stolen $91,000 from the bank.

On March 5, 1900, The National Bank of Port Jervis, which suspended on December 10, 1899 due to the defalcation of assistant cashier Goldsmith, resumed business. The new stock was oversubscribed with more than double the number of stockholders than on the old bank.

In December 1909, The Peoples Bank and Trust Company of New Haven, Connecticut reported a $23,000 defalcation.  The officers were Henry G. Newton, president and former member of the Connecticut Legislature; F. Coleman Boyd, vice president and secretary; and Robert D. Muir, treasurer and former cashier of the National Bank of Port Jervis, New York.  Muir left New Haven and was reportedly in New York City.  On December 6, 1909, Muir was arrested and charged with the embezzlement of $35,000 of funds of the People's Bank and Trust Company.  Bank officials reported that he took $115,000, but securities were obtained from him to the value of $93,000.  Muir was 42 years old and had a wife and children.  His early training was in a Lincoln, Nebraska National bank.  While in Nebraska he was appointed an assistant bank examiner by the federal government.  On January 13, 1910, Muir was sentenced in New Haven to one to five years in state prison upon his plea of guilty of converting $106,000 worth of bank securities for his own use.

By 1965, the Intercounty Trust Company of 20 Front Street, Port Jervis had taken over the National Bank and Trust Company of Port Jervis.

Official Bank Title(s)

1: The National Bank of Port Jervis, NY

2: The National Bank and Trust Company of (7/19/1926), Port Jervis, NY

Bank Note Types Issued

1882 Brown Back $5 bank note with pen signatures of R.D. Muir, Cashier and W.L. Cuddeback, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

1902 Plain Back $5 bank note with pen signatures of E.F. Mapes, Cashier and W.L. Cuddeback, President Courtesy of Lyn Knight Auctions, www.lynknight.com

1929 Type 2 $5 bank note with printed signatures of Merle M. Geddis, Cashier and E.F. Mapes, President. Courtesy of Heritage Auctions, www.ha.com

A total of $3,756,160 in National Bank Notes was issued by this bank between 1865 and 1935. This consisted of a total of 458,464 notes (393,068 large size and 65,396 small size notes).

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

Series/Type	Sheet/Denoms	Serial#s	Sheet Comments
1: Original Series	4x5	1 - 4200
1: Original Series	3x10-20	1 - 2320
1: Original Series	50-100	1 - 423
1: Series 1875	4x5	1 - 2250
1: Series 1875	3x10-20	1 - 3094
1: Series 1875	50-100	1 - 101
1: 1882 Brown Back	4x5	1 - 4094
1: 1882 Brown Back	4x5	4701 - 8855
1: 1882 Brown Back	3x10-20	1 - 2690
1: 1882 Brown Back	3x10-20	2701 - 7065
1: 1902 Red Seal	4x5	1 - 4250
1: 1902 Red Seal	3x10-20	1 - 3600
1: 1902 Date Back	4x5	1 - 13000
1: 1902 Date Back	3x10-20	1 - 8400
1: 1902 Plain Back	4x5	13001 - 33519
1: 1902 Plain Back	3x10-20	8401 - 20589
2: 1902 Plain Back	4x5	1 - 5344
2: 1902 Plain Back	3x10-20	1 - 3535
2: 1929 Type 1	6x5	1 - 5040
2: 1929 Type 1	6x10	1 - 2638
2: 1929 Type 1	6x20	1 - 700
2: 1929 Type 2	5	1 - 9378
2: 1929 Type 2	10	1 - 4370
2: 1929 Type 2	20	1 - 1380

Bank Presidents and Cashiers

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

Presidents:

Cashiers:

Other Bank Note Signers

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

Wiki Links

Sources

Port Jervis, NY, 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://bbdata.banknotehistory.com
Harrisburg Telegraph, Harrisburg, PA, Sat., Dec. 4, 1869.
The Evening Gazette, Port Jervis, NY, Thu., Dec. 9, 1869.
Wayne County Herald, Honesdale, PA, Thu., Dec. 9, 1869.
Middletown Times-Press, Middletown, NY, Wed., Jan. 13, 1892.
The Buffalo review, Buffalo, NY, Tue., Dec. 5, 1899.
Star-Gazette, Elmira, NY, Tue., Dec. 5, 1899.
Star-Gazette, Elmira, NY, Mon., Jan. 15, 1900.
The Buffalo Express, Buffalo, NY, Sat., Feb. 24, 1900.
The New York Times, New York, NY, Sun., Dec. 5, 1909.
Altoona Tribune, Altoona, PA, Tue., Dec. 7, 1909.
The Brooklyn Daily Eagle, Brooklyn, NY, Thu., Jan. 13, 1910.