National Bank of Commerce/City-NB of Commerce/City NB & TC, Columbus, OH (Charter 7621)

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The Chase Tower, corner of Broad and 3rd Streets, Columbus, Ohio, ca2022. Courtesy of Google Maps

National Bank of Commerce/City-NB of Commerce/City NB & TC, Columbus, OH (Chartered 1905 - Closed (Merger) 2004)

Town History

Columbus is the capital and most populous city of the U.S. state of Ohio. With a 2020 census population of 905,748, it is the 14th-most populous city in the U.S., the second-most populous city in the Midwest (after only Chicago), and the third-most populous U.S. state capital, after only Phoenix, Arizona and Austin, Texas. Columbus is the seat of government of Franklin County; it also extends into Delaware and Fairfield counties. It is the core city of the Columbus metropolitan area, which encompasses ten counties in central Ohio. It had a population of 2,138,926 in 2020, making it the largest metropolitan area entirely in Ohio and 32nd-largest metro area in the U.S.

Columbus originated as numerous Native American settlements on the banks of the Scioto River. Franklinton, now a city neighborhood, was the first European settlement, laid out in 1797. The city was founded in 1812 at the confluence of the Scioto and Olentangy rivers, and laid out to become the state capital. The city was named for Italian explorer Christopher Columbus. The city assumed the function of state capital in 1816 and county seat in 1824. Amid steady years of growth and industrialization, the city has experienced numerous floods and recessions. Beginning in the 1950s, Columbus began to experience significant growth; it became the largest city in Ohio in land and population by the early 1990s. Growth has continued in the 21st century, with redevelopment occurring in numerous city neighborhoods, including Downtown.

The city has a diverse economy without reliance on any one sector. The metropolitan area is home to the Battelle Memorial Institute, the world's largest private research and development foundation; Chemical Abstracts Service, the world's largest clearinghouse of chemical information; and the Ohio State University, one of the largest universities in the United States. The Greater Columbus area is further home to the headquarters of six Fortune 500 companies, namely Cardinal Health, American Electric Power, Bath & Body Works, Inc., Nationwide, Bread Financial and Huntington Bancshares.

Columbus had 17 National Banks chartered during the Bank Note Era, and 16 of those banks issued National Bank Notes.

Bank History

  • Organized January 26, 1905
  • Chartered February 21, 1905
  • Conversion of The Bank of Commerce Company
  • Opened for business February 23, 1905
  • 1: Assumed 7818 by consolidation December 31, 1926 and assumed its circulation with title change (City National Bank, Columbus, OH)
  • 2: Assumed 2605 by consolidation November 30, 1929 and its circulation with title change (Commercial National Bank, Columbus, OH)
  • Bank was Open past 1935
  • For Bank History after 1935 see FDIC Bank History website
  • Merged into JPMorgan Chase Bank, N.A. in Columbus, OH, November 13, 2004

Among new incorporations reported on February 1, 1900, was the Bank of Commerce Company, Columbus, capital $100,000,[1] which was increased to $200,000 in June 1901.[2] In October 1903, P.L. Schneider, cashier, Bank of Commerce, and his wife were among the 125 Cleveland and Ohio bankers who departed on a special train for the bankers' convention in San Francisco. The Big Four train was fitted up in a palatial manner, every want and comfort of the party and many of the luxuries of traveling having been provided. The schedule was arranged so all points of interest along the route to the Pacific Coast would be visited, the whole trip taking 20 days.[3]

In January 1905, the application to convert the Bank of Commerce Company of Columbus, Ohio into the National Bank of Commerce of Columbia with a capital of $200,000 was approved.[4] On February 21, 1905, the National Bank of Commerce received authorization to begin business with a capital of $200,000. J.C. Campbell was president; Dennis Kelly, vice president; P.L. Schneider, cashier; and M.H. Sims, assistant cashier.[5]

In September 1911, Michael H. Simms of Columbus, Ohio, was appointed national bank examiner and assigned to northern Ohio. Sims had about 14 years' experience having served in every position from messenger to assistant cashier in the Merchants' and Manufacturers' Bank of Columbus, and assistant cashier in the National Bank of Commerce of Columbus.[6]

In March 1921, Edmund E. Fox, 32, assistant cashier of the National Bank of Commerce was under arrest on the charge of embezzlement. A shortage of $124,000 was alleged.[7] In April Fox was indicted on 9 counts alleging false entry, embezzlement, defrauding and appropriating bank funds to his own use. The indictments covered transactions amounting to $22,000.[8] In May, Edmund E. Fox was sentenced to five years' imprisonment in the Atlanta penitentiary when he pleaded guilty to an indictment charging embezzlement.[9]

In July 1922, Mr. Manly Acton and family of Kingston would move to Columbus where Mr. Acton had accepted a position with the National Bank of Commerce. He resigned from the First National Bank of Kingston some time ago and had been waiting until a new cashier could be secured before leaving for his new position. He left many friends both in Kingston and Chillicothe.[10]

In January 1925, riding along on a series of changes made at the National Bank of Commerce, Manly Acton succeeded Richard Patton who was elected president of the institution. J.C. Campbell retired as president and was elected chairman of the board of directors. Mr. Acton began his career as a banker in the Central National Bank of Chillicothe and later went to the Kingston Bank and from there to Columbus.[11]

On Monday, January 10, 1927, Foster Copeland, president of the old City National Bank of Columbus which was merged December 31st with the National Bank of Commerce, forming the City-National Bank of Commerce, was named chairman of the board of the new bank. Richard Patton, president of the old National Bank of Commerce was named president of the merged bank and J.C. Campbell, chairman of the board of the Bank of Commerce became vice chairman of the new bank. Other officers elected were George T. Spahr, Robert Laylin and William E. Rex, vice president; V. Manley Acton, cashier; Walter P. Reitter, assistant cashier and bond department manager; Raymond F. Davis, Alfred Copeland, John Davanney, and Guy E. Coffman, assistant cashiers and H.E. Lutz, auditor.[12]

On October 2, 1929, Columbus gained its fourth bank with resources of more than $30 million when the City National Bank & Trust Company was formed by the merger of the city-National Bank of Commerce and the Commercial National Bank. Richard Patton, president of the City-National would be president of the new bank. Both banks would retain their banking premises. Stock of the City-National Bank advance sharply on news of the merger. The agreement provides that the consolidated bank would have a capital of $1,200,000 with shares of $100 par value. The bank would also have a surplus of $1,800,000 and undivided profits of not less than $300,000.[13]

In January 1935, John H. McCoy, former president of the Peoples Bank & Trust Co., Marietta, and vice president of the Ohio Bankers' Association, became president of the City National Bank & Trust Company of Columbus, succeeding Richard Patton who had been ill for several months.[14] On June 13th, Mr. McCoy was elected president of the Ohio Bankers' Association at the closing session of its annual convention.[15] 

In December 1946, a plaque on the City National Bank and Trust Company's building, corner of Long and Hight Streets, was placed by the Columbus Council of N.C. Kingsbury Chapter, Telephone Pioneers of America. In 1879, the Ohio State Journal described the convenience of the telephone and this corner was the location of the first telephone exchange in Ohio's capital city. Opened January 1, 1879, the Columbus office at first had two lines and 17 telephones with the central office on the second floor of the Sessions building.  This building was razed in 1921. The Columbus exchange was the second in the state, the first having been established in Cincinnati. The first practical use of the telephone in Ohio took place in Columbus in July 1877 when Brown Brothers, a title abstracting company, began to use it for commercial purposes with an installation between their office and a branch office.[16]

On Tuesday, November 18, 1958, John H. McCoy, Ohio banker who started his career by quitting school to become a bank messenger and later president of the institution, died in a Columbus hospital. McCoy began his career in his home town of Marietta where he started out as a messenger in the Peoples Banking & Trust Co. and in 1922 became its president. He was a widely known figure in banking circles throughout the country. In 1931 he aided Ohio Gov. George White as an unofficial financial and banking adviser. This was during the banking crisis which continued until March, 1933, when a banking holiday was declared. When the holiday ended, McCoy was active in strengthening the capital structure of banks throughout the state as a representative of the Governor and the Reconstruction Finance Corp. A former member of the Banking Advisory Board, established by the Legislature in 1933 as an outgrowth of the banking crisis, he became one of 12 members the Federal Reserve Board of Governors for the Fourth Federal District in 1944. He also served as a member and president of the Council of Administration of the Ohio Bankers’ Association. At his death, he was chairman of the board of Buckeye Steel Castings Co., a director of Capital City Products Co., and a trustee of both Ohio State University and Marietta College. Until recently he also had been a director of the Pure Oil Co. He left his widow, Florence McCoy; two sons, John G., vice president of City National, and Charles W.; three daughters, Mrs. Jane Peterson, Miss Dorothy McCoy and Mrs. Mary Mildren of Parkersburg, West Virginia.[17] 

Following the death of his father, John G. McCoy took over as president of the City National Bank & Trust Co. which became Bank One Corporation. During McCoy's 25 years as CEO, the bank pioneered the use of what would become Visa cards and ATMs. It also enjoyed explosive growth through a series of mergers. Bank one would merge with banking giant J.P. Morgan Chase in 2004.[18]

Chase Tower is a 357-foot-tall skyscraper located at 100 East Broad Street in Columbus, Ohio. It was completed in 1964 and has 25 floors. It is the 12th tallest building in Columbus and was the tallest constructed in the 1960s. The building served as the headquarters of Bank One prior to its merger with First Chicago NBD, and was known as the Bank One Tower; it later became known as the Columbus Center. The building was designed by the architectural firm Harrison & Abramovitz.

Official Bank Titles

1: The National Bank of Commerce of Columbus, OH

2: The City-National Bank of Commerce of Columbus, OH (12/31/1926)

3: The City National Bank & Trust Company of Columbus, OH (11/30/1929)

Bank Note Types Issued

1902 Red Seal $5 bank note with pen signatures of P.L. Schneider, Cashier and J.C. Campbell, President. This is a Replacement note. Courtesy of Lyn Knight Auctions, www.lynknight.com
1902 Plain Back $5 uncut pair from the last sheet of large size $5s issued with stamped signatures of V.M. Acton, Cashier and Richard Patton, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $5 bank note with SN 1 and printed signatures of V.M. Acton, Cashier and Richard Patton, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 2 $20 bank note with printed signatures of V.M. Acton, Cashier and Richard Patton, President. Courtesy of Heritage Auctions, www.ha.com

A total of $4,994,500 in National Bank Notes was issued by this bank between 1905 and 1935. This consisted of a total of 621,803 notes (160,044 large size and 461,759 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
1: 1902 Red Seal 4x5 1 - 2000
1: 1902 Red Seal 3x10-20 1 - 1650
1: 1902 Date Back 4x5 1 - 4415 last DB received by CofC Oct 2, 1914
1: 1902 Plain Back 4x5 4416 - 9608
1: 1902 Date Back 3x10-20 1 - 3434 last DB received by CofC Oct 3, 1914
1: 1902 Plain Back 3x10-20 3435 - 6769
2: 1902 Plain Back 4x5 1 - 12396
2: 1902 Plain Back 3x10-20 1 - 7588
2: 1929 Type 1 6x5 1 - 4606
2: 1929 Type 1 6x10 1 - 2150
2: 1929 Type 1 6x20 1 - 724
3: 1929 Type 1 6x5 1 - 29320
3: 1929 Type 1 6x10 1 - 19064
3: 1929 Type 1 6x20 1 - 5200
3: 1929 Type 2 5 1 - 61690
3: 1929 Type 2 10 1 - 26958
3: 1929 Type 2 20 1 - 6727

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1905 - 1935):

Presidents:

Cashiers:

Other Known Bank Note Signers

Bank Note History Links

Sources

  • Columbus, OH, 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
  1. ↑ The Piqua Daily Call, Piqua, OH, Feb. 1, 1900.
  2. ↑ The Cleveland Leader, Cleveland, OH, Sat., June 8, 1901.
  3. ↑ The Plain Dealer, Cleveland, OH, Thu., Oct. 15, 1903.
  4. ↑ The Cincinnati Enquirer, Cincinnati, OH, Sat., Jan. 14, 1905.
  5. ↑ The Cincinnati Enquirer, Cincinnati, OH, Fri., Feb. 24, 1905.
  6. ↑ The Daily Times, New Philadelphia, OH, Tue., Sep. 12, 1911.
  7. ↑ The Greenville Democrat, Greenville, OH, Wed., Mar. 30, 1921.
  8. ↑ The Cincinnati Enquirer, Cincinnati, OH, Wed., Apr. 13, 1921.
  9. ↑ The West Milton Record, West Milton, OH, Wed., May 11, 1921.
  10. ↑ Chillicothe Gazette, Chillicothe, OH, Tue., July 18, 1922.
  11. ↑ Chillicothe Gazette, Chillicothe, OH, Wed., Jan. 14, 1925.
  12. ↑ Portsmouth Daily Times, Portsmouth, OH, Wed., Jan. 12, 1927.
  13. ↑ The Cincinnati Enquirer, Cincinnati, OH, Wed., Oct. 9, 1929.
  14. ↑ The Marion Star, Marion, OH, Sat., Jan. 5, 1935.
  15. ↑ The News-Messenger, Fremont, OH, Thu., June 13, 1935.
  16. ↑ The Elmore Tribune, Elmore, OH, Thu., Dec. 12, 1946.
  17. ↑ The Cincinnati Enquirer, Cincinnati, OH, Wed., Nov. 19, 1958.
  18. ↑ Troy Daily News, Troy, OH, Wed., Apr. 7, 2010.
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