National Bank of Commerce, Adrian, MI (Charter 9421)
National Bank of Commerce, Adrian, MI (Chartered 1909 - Receivership 1933)
Town History
Adrian is a city in the U.S. state of Michigan and the county seat of Lenawee County. It was founded on June 18, 1826 by Addison Comstock. The original name for the village was Logan, but was changed soon after to Adrian, perhaps in reference to the Roman emperor Hadrian. The first operating railroad in Michigan was a horse-drawn train running between Adrian and Toledo in 1836. Adrian grew quickly, with the sixth largest population in the state when Michigan was admitted to the Union in 1837, and the third largest population in the state by 1860. Adrian was incorporated as a village on March 28, 1836, then as a city on January 31, 1853. Adrian is approximately 30 miles southwest of Ann Arbor, 30 miles southeast of Jackson, and 30 miles northwest of Toledo, Ohio. The population was 20,645 at the 2020 census. The population in 1910 was 10,763, growing to 13,064 by 1930.
The only remaining piece of the Bank of Pennsylvania, one of the stone pillars, was moved to Adrian, Michigan and erected as the Civil War Memorial in commemoration of those in Adrian who died in the American Civil War.
In the late 19th century through early 20th century Adrian was known as the "fence capital of the world," when J. Wallace Page invented the first successful wire fence. Adrian became known worldwide as a fencing manufacturing hub and its fences were shipped as far as New York, Berlin, Asia, and Africa. The company sponsored the highly successful Page Fence Giants black baseball team.
Adrian was an early auto manufacturing hub. One of the first motor vehicles, the Lion automobile, was created in Adrian. Between 1900 and 1912, three major car models were manufactured in Adrian; in addition to the Lion the Murry Motor Car and Lenawee Car were made by the Church Manufacturing Company in Adrian. The area was poised to be a world center until bad financial decisions at Church Manufacturing Company and a 1912 plant fire at Lion Automobile led to the demise of both companies.
Adrian had three National Banks chartered during the Bank Note Era, and two of those banks issued National Bank Notes.
Bank History
- Organized May 10, 1909
- Chartered May 29, 1909
- Opened for business June 1, 1909
- Conservatorship April 12, 1933
- Receivership December 5, 1933
- Succeeded by The National Bank of Adrian, Adrian, MI, Charter 13821 (Non-issuing) November 1, 1933
On May 1, the Comptroller of the Currency approved tha application to organize the National Bank of Commerce of Adrian, Michigan with a capital of $100,000. The application was signed by Theodore M. Joslin, Willis Chatfield, James W.H. Cline, Roland C. Rothfuss, and William O. Olbig.[1]
In August 1911, the Britton State Savings Bank, Britton, Michigan, liquidated, having transferred a part of its business to the Peoples Bank of Britton and to the National Bank of Commerce, Adrian.[2]
In December 1915, Dr. D.L. Treat, a leading physician of Adrian, resigned as president of the National Bank of Commerce to become head of the new welfare project of the General Motors Company of Flint. Dr. Treat had been a life-long resident of Adrian and prominent in many local business interests. He served as mayor for one term, as a member of the state Democratic committee, and as trustee of the Coldwater State School. R.C. Rothfuss, cashier, would succeed Dr. Treat as president.[3]
One of the final steps toward formation of the new National Bank of Adrian was completed with the announcement that the Reconstruction Finance Corporation had agreed to purchase $40,000 worth of preferred stock. The bank would have $80,000 in common stock already subscribed, $40,000 in preferred stock, $16,000 surplus and $17,000 undivided profits. Walter P. Jacobs of Detroit would be the president and William Shepherd, Adrian, cashier.[4] Mr. Shepherd was a former vice president of the Guardian National Bank of Commerce in Detroit.[5] On Saturday, November 4, 1933, the National Bank of Adrian opened for business.[6]
On Saturday, July 9, 1932, Rolland C. Rothfuss of Detroit, at one time a director of the First National Bank in Wauseon, Ohio, was found dead in a hotel room in Ann Arbor. He had registered in the hotel the previous evening and when he was found, his body was hanging by a strap which had been taken from his suitcase, which had not been opened. Funeral services were held in Adrian, Tuesday afternoon. He is survived by Mrs. Rothfuss, and one daughter, Mrs. Lisle Retter of Pittsburgh. Two brothers who survive were George F. Rothfuss of Blissfield and Herman W. Rothfuss of Sylvania. Mr. Rothfuss was prominent in the National Bank of Commerce in Adrian of which he was president when he retired in 1930. He also was associated with the Mutual Oil Company and other banks in Blissfield, Jasper and the People's Bank of Ottawa.[7]
Official Bank Title
1: The National Bank of Commerce of Adrian, MI
Bank Note Types Issued
A total of $1,662,800 in National Bank Notes was issued by this bank between 1909 and 1933. This consisted of a total of 206,733 notes (169,104 large size and 37,629 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1902 Date Back 4x5 1 - 7500 1902 Date Back 3x10-20 1 - 5760 1902 Plain Back 4x5 7501 - 24988 1902 Plain Back 3x10-20 5761 - 17288 1929 Type 1 6x5 1 - 3516 1929 Type 1 6x10 1 - 2020 1929 Type 1 6x20 1 - 520 1929 Type 2 5 1 - 824 1929 Type 2 10 1 - 394 1929 Type 2 20 1 - 75
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1909 - 1933):
Presidents:
- Dr. David Leroy Treat, 1909-1915
- Rolland Charles Rothfuss, 1916-1929
- Charles Andrew Shierson, 1930-1932
Cashiers:
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Adrian, MI, 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
- ↑ Detroit Free Press, Detroit, MI, Sun., May 2, 1909.
- ↑ Detroit Free Press, Detroit, MI, Sat., Aug. 5, 1911.
- ↑ Battle Creek Moon-Journal, Battle Creek, MI, Fri., Dec. 24, 1915.
- ↑ Lansing State Journal, Lansing, MI, Sat., Sep., 9, 1933.
- ↑ Detroit Free Press, Detroit, MI, Fri., Oct. 12, 1934.
- ↑ Detroit Free Press, Detroit, MI, Sat., Nov. 4, 1933.
- ↑ Fulton County Expositor, Wauseon, OH, Thu., July 14, 1932.