National Bank & Trust Company, Erie, PA (Charter 14219)
National Bank & TC, Erie, PA (Chartered 1934 - Open past 1935)
Town History
Erie is a city on the south shore of Lake Erie and the county seat of Erie County, Pennsylvania. Erie is the fifth-largest city in Pennsylvania after Philadelphia, Pittsburgh, Allentown and Reading, and the largest city in Northwestern Pennsylvania, with a population of 94,831 at the 2020 census. The Erie metropolitan area, equivalent to all of Erie County, consists of 266,096 residents.
Erie is within 100 miles distance of the cities of Buffalo, Cleveland, and Pittsburgh. Erie's manufacturing sector remains prominent in the local economy, although healthcare, higher education, technology, service industries, and tourism are emerging as significant economic drivers. Over four million people visit Erie each summer for recreation at Presque Isle State Park and attractions such as Waldameer Park and the Erie Zoo.
The city was named for the Native American Erie people who lived in the area until the mid-17th century. It is known as the "Flagship City" because of its status as the home port of Oliver Hazard Perry's flagship, Niagara. It is also known as the "Gem City" because of the water's gem like appearance when the Sun is out. In 2012, Erie hosted the Perry 200, a commemoration celebrating 200 years of peace between Britain, America, and Canada following the War of 1812 and Battle of Lake Erie.
Renaissance Centre at the corner of State and 10th Streets was listed on the National Register of Historic Places on August 10, 2000.
Erie had five National Banks chartered during the Bank Note Era, and all five of those banks issued National Bank Notes.
Bank History
- Organized May 19, 1934
- Chartered July 10, 1934
- Succeeded 606 The Second National Bank of Erie, PA
- Bank Open past 1935
- Merged with 12 The First National Bank of Erie February 1951
On Friday, March 17, 1933, the long banking holiday in Erie was virtually at an end. The four unopened state banks in the city and Wesleyville received word that they could resume restricted business. The Marine National Bank opened in the morning with unlimited functions. Only two national banks, the Second and Lawrence Park National Bank, remained closed. The Erie Trust Company, Bank of Erie Trust, Bank of Wesleyville and American state Bank were the four state-controlled institutions which planned to open either Sunday or Monday.[1]
On September 20, 1933, a plan for the creation of a new bank by merging the resources of the Erie Trust Company and the Second National Bank then operating on a restricted basis was advanced by depositors' committees of both institutions.[2]
On Saturday, November 25, 1933, the banking situation in Erie reached the most normal plane when three banks announced plans for forming two new ones. The Bank of Erie Trust Company announced it would become the Bank of Erie, while the Second National Bank and the Erie Trust Company announced they would become the National Bank and Trust Company. The Second National had been operating under restrictions since the bank holiday, while the Erie Trust Company was place in receivership[3] WHEN
Erie's downtown state liquor store opened for business on December 27th in the rooms formerly occupied by the Erie Trust Company in the Erie Trust Company Building. Ironically, it was now in the same building where the Erie county anti-saloon league had its headquarters.[4][5]
In January 1934, the state banking department filled a petition in court for liquidation of the closed Erie Trust Company. In the petition deputy receiver C.E. Hill of Pittsburgh listed the book value of the bank's assets at $8,779,570.19 and the appraisers' valuation at $4,592,253.53. Hill estimated that if liquidation was approved by the court, the bank could pay immediately 50 cents on the dollar. The Erie Trust Co. building was the largest in the city. The bank listed the value of the structure at $1,647,135, but the appraisers' report fixed it at $500,000.[6]
On May 15, 1934, it was announced the Second National Bank would pay in two weeks 30 cents on the dollar to its depositors whose funds were frozen since the March 1933 bank holiday. Meanwhile subscription of $15,000 at the eleventh hour completed the necessary $500,000 needed to form the National Bank & Trust Company of Erie as successor to the closed Second National and Erie Trust Company.[7] On Wednesday, May 16, 1934, A.G. Postlethwait of Corry was elected president of Erie's new bank, the National Bank and Trust Company, at a meeting of officials. The bank was expected to open on June 1st.[8] The bank opened on Thursday, July 12, for regular business at Tenth and State Streets in the former banking rooms of the Erie Trust Company.[9] With the opening, $2,000,000 would be paid to 7,200 Second National depositors. The Second National, according to officials, was the largest bank under conservatorship in the country. The National Bank and Trust Company, headed by F.H. Payne, Erie, had a capital stock of $500,000.[10]
In February 1944, it was announced that the Erie Sailors would be back in organized baseball in 1944, playing in the class D Pony league. Sailor management represented by J.V. (Jocko) Munch, president; A.E. (Anthony) Keim; and Ray Peebles, director, attended a meeting of league officials in Buffalo at which time Erie was officially admitted to the Pony league for the upcoming season. The Sailors retained their franchise in the Middle Atlantic league and would return to that circuit when it was ready to resume operations. In addition to Erie, Olean, Hornell, Jamestown, Bradford, Batavia, Wellsville and Lockport made up the league.[11]
In January 1951, final plans for merging the National Bank and Trust Company of Erie and the First National Bank of Erie, the oldest bank in Erie County, were awaiting approval of the comptroller of the currency. The transaction was expected to be completed about February 1st. The National Bank and Trust would then operate as a branch of the older bank[12] to be known as the Tenth and State Office, in the G. Daniel Baldwin Building.[13]
On January 16, 1953, Anthony E. "Tony" Keim, well-known leader in Erie civic and philanthropic circles died after several months of heart trouble. Starting as a department store stock boy, he became a bookkeeper at the old Second National Bank and was cashier when it closed. He was made vice president and cashier of the National Bank and Trust Company and retired when the First National absorbed the National Bank. For many years he was a leading spirit and an officer of the professional baseball clubs in Erie.[14]
Official Bank Title
1: The National Bank and Trust Company of Erie, PA
Bank Note Types Issued
A total of $308,700 in National Bank Notes was issued by this bank between 1934 and 1935. This consisted of a total of 10,525 notes (No large size and 10,525 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1929 Type 2 10 1 - 4415 1929 Type 2 20 1 - 3060 1929 Type 2 50 1 - 2033 1929 Type 2 100 1 - 1017
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1934 - 1935):
Presidents:
Cashiers:
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Erie, PA, 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
- ↑ Buffalo Courier Express, Buffalo, NY, Sat., Mar. 18, 1933.
- ↑ The Record-Argus, Greenville, PA, Wed., Sep. 20, 1933.
- ↑ Bradford Evening Star and The Bradford Daily Record, Bradford, PA, Tue., Nov. 28, 1933.
- ↑ Warren Times Mirror, Warren, PA, Thu., Dec. 14, 1933.
- ↑ The Times Leader, Wilkes-Barre, PA, Fri., Dec. 15, 1933.
- ↑ The Record-Argus, Greenville, PA, Thu., Jan. 11, 1934.
- ↑ Bradford Evening Star and The Bradford Daily Record, Bradford, PA, Tue., May 15, 1934.
- ↑ The Kane Republican, Kane, PA, Fri., May 18, 1934.
- ↑ Warren Times Mirror, Warren, PA, Fri., July 13, 1934.
- ↑ The Indiana Gazette, Indiana, PA, Wed., July 11, 1934.
- ↑ Lake Shore Visitor, Erie, PA, Fri., Feb. 18, 1944.
- ↑ The Morning Herald, Uniontown, PA, Thu., Jan. 4, 1951
- ↑ Lake Shore Visitor, Erie, PA, Fri., May 4, 1951.
- ↑ Lake Shore Visitor, Erie, PA, Fri., Jan. 30, 1953.