National Bank of the Republic, Saint Louis, MO (Charter 4232)

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Odd Fellows Building
Ninth and Olive, southeast corner, showing the famous Odd Fellows Building shortly after its erection in 1889. The first Odd Fellows lodge west of the Mississippi was founded in St. Louis in 1834 and put up a hall on the northwest corner of Fourth and Locust which, though burned and rebuilt during the Civil War years, maintained a reputation as one of the city's most popular meeting places. Spurred by its success the Odd Fellows built this $700,000 temple in 1887-88. The temple was "the pride of the order in the city and the state" and its distinctive tower rising just across from the Federal Building was a feature of St. Louis views of the 1890's. The Evening Star Sayings, later the St. Louis Star, moved into the building in 1894. Courtesy of Missouri Historical Society

National Bank of the Republic, Saint Louis, MO (Chartered 1890 - Liquidated 1897)

Town History

An 1890 advertisement for the National Bank of the Republic of St. Louis, Missouri
An 1890 advertisement for the National Bank of the Republic of St. Louis, Missouri. The bank was located on the corner of Ninth and Oliver Streets.[1]

St. Louis is the second-largest city in Missouri. It sits near the confluence of the Mississippi and the Missouri Rivers. In 2020, the city proper had a population of 301,578, while the bi-state metropolitan area, which extends into Illinois, had an estimated population of over 2.8 million, making it the largest metropolitan area in Missouri and the second-largest in Illinois.

The founding of St. Louis was preceded by a trading business between Gilbert Antoine de St. Maxent and Pierre Laclède Liguest in the fall of 1763. St. Maxent invested in a Mississippi River expedition led by Laclède, who searched for a location to base the company's fur trading operations. Though Ste. Genevieve was already established as a trading center, he sought a place less prone to flooding. He found an elevated area overlooking the flood plain of the Mississippi River, not far south from its confluence with the Missouri and Illinois rivers. In addition to having an advantageous natural drainage system, there were nearby forested areas to supply timber and grasslands which could easily be converted for agricultural purposes. This place, declared Laclède, “might become, hereafter, one of the finest cities in America.” He dispatched his 14-year-old stepson, Auguste Chouteau, to the site, with the support of 30 settlers in February 1764. Laclède arrived at the future town site two months later and produced a plan for St. Louis based on the New Orleans street plan. The default block size was 240 by 300 feet, with just three long avenues running parallel to the west bank of the Mississippi. He established a public corridor of 300 feet fronting the river, but later this area was released for private development.

St. Louis was transferred to the French First Republic in 1800 (although all of the colonial lands continued to be administered by Spanish officials), then sold by the French to the U.S. in 1803 as part of the Louisiana Purchase. St. Louis became the capital of, and gateway to, the new territory. Shortly after the official transfer of authority was made, the Lewis and Clark Expedition was commissioned by President Thomas Jefferson. The expedition departed from St. Louis in May 1804 along the Missouri River to explore the vast territory.

St. Louis became a major port on the Mississippi River and from 1870 until the 1920 census, it was the fourth-largest city in the country. It separated from St. Louis County in 1877, becoming an independent city and limiting its political boundaries. In 1904, it hosted the Louisiana Purchase Exposition and the Summer Olympics.

Saint Louis had 42 National Banks chartered during the Bank Note Era, and 37 of those banks issued National Bank Notes.

Bank History

Sketch of the new National Bank of the Republic
Sketch of the new National Bank of the Republic of St. Louis at 214 N. Fourth Street, between Pine and Olive Streets. A unique one-story building adjoining the Rialto building on Fourth Street near Olive. The building was 35 feet high and cost $35,000. The front was of Italian marble beautifully carved in draped figures. The entire roof was of heavy glass.[2]

In November 1889, one million dollars capital was the investment planned for a new St. Louis bank with Texas promoters of the project contributing $250,000. Mr. John Caro Russell of Terrell, Texas arrived in St. Louis for the purpose of organizing a bank to be known as the National Bank of the Republic. Mr. Russell, though a young man well down in his 30s was president of the First National Bank of Terrell and one of the foremost bankers and financiers in Texas. He and his family owned six banks in Texas and he had been engaged in banking since he was a boy. For two years he was treasurer of the Texas Bankers' Association. Having more money than could be profitably employed in Terrell, Mr. Russell sought a larger field elsewhere and fixed upon St. Louis as the best point in the country for the establishment of a new national bank. The names of the Texas subscribers were: Tom Randolph, president, Merchants and Planters National Bank of Sherman, Texas; J.C. O'Connor, president; City National Bank, Dallas; Henry Exalt, vice president, North Texas National Bank, Dallas; J.W. Rainey, president, Greenville, National Bank, Greenville; A.W. Byers, vice president, City Bank, Sherman; S.B. Hopkins, cashier, Fourth National Bank, Dallas; M.W. Raley, cashier, First National Bank, Terrell; A.G. Wills, cashier, National Bank of Commerce, Dallas; E.M. Landscape, cashier, Central National Bank, Dallas, G.W. Voiers, cashier, Forney National Bank, Forney; Schneider & Davis, wholesale grocers, Dallas; Keating Implement and Machine Co., Dallas, Thomas Bros., real estate, Dallas; James Kincannon, national bank examiner for Texas, New Mexico and Arizona; Geo C. Lester, Dallas; J.D. and J.J. Raley, Ruston, Louisiana; John Caro Russell, president First National Bank, Terrell; Geo. W. Merchant, agent, Remington Typewriter, Dallas; A.D. Aldridge & Co., stationers, printers and bookbinders, Dallas; Royal A. Ferris, second vice president; National Exchange Bank, Dallas; N.A. McMillan, cashier, National Exchange Bank, Dallas; W.O. Ellis & Co., bankers, Houston; E.W. Taylor, president, Merchants National Bank, Fort Worth; and J.N. Rushing, Baird.[3]

In March 1890, John Caro Russell, the courteous cashier of the National Bank of the Republic, the new institution recently established at the southeast corner of Ninth and Olive Streets in the new Odd Fellows' building noted some peculiarities in the banking business in St. Louis. Turning over the pages of the latest bank directory, Mr. Russell said, "One of the most surprising things I find in this book is that only two out of the 77 banks of the State of Colorado have a St. Louis correspondence and there are none in Montana. But comparatively few banks in Kansas have a correspondence with St. Louis banks. The banks of Chicago, New York and Kansas City cater to and catch this outside business. The reason for this is well-known in the financial centers of the country. St. Louis banks have not been doing this outside business because they have not worked for it., but, on the other had, have apparently slapped the foreign trade in the face and scorned to receive it."[4]

In May 1890, the directors were E.F. Williams, vice president, Hamilton-Brown Shoe Co.; J.J. Phillips of Janis, Saunders & Co., wholesale dry goods; J.J. Wertheimer of Schafer, Swarts & Co., wholesale boots and shoes; J.J. Sylvester, president, Sylvester Coal Co.; John L. Boland, president, John L. Boland Book & Stationery Co.; H.C. Hieatt, president; Henry Rhorer, president, Provident Chemical Works; Henry Heimenz, real estate; and Jno. Caro Russell, cashier. The officers were H.C. Hieatt, president; Eugene F. Williams, vice president; Jno. Caro Russell, cashier; and Van L. Runyan, assistant cashier. The bank was located on the corner of Ninth and Olive Streets with capital $500,000.[5]

In June 1892, Mr. H.C. Hieatt, organizer of the National Bank of the Republic in 1890 and president since that time, closed out his interests in St. Louis and would make Oakland, California, his home where he had a number of friends.[6] 

In December 1893, John Caro Russell, the former cashier of the National Bank of the Republic was advertising for a partner to put from $50,000 to $100,000 in the Commercial Note Brokerage Co., which he was organizing with a capital of $250,000. The business of the company would be to shave or discount notes. Mr. Russell thought there was big money in the business. He planned to incorporate in January. His office was at 208 North Third Street, St. Louis.[7]

In February 1894, the National Bank of the Republic moved to 214 N. Fourth Street, between Pine and Olive Streets. The directors were E.F. Williams, vice president, Hamilton-Brown Shoe Co.; W.E. Schweppe, president, Schweppe Grocer Co.; J.J. Sylvester, president, Sylvester Coal Co.; Wm. L. Hill, manager, New York Life Ins. Co.; Charles F. Gauss, president, Gauss-Shelton Hat Co.; O.H. Peckham, president, O.H. Peckham Candy Mfg. Co.; J.J. Wertheimer, president, Wertheimer-Swarts Shoe Co.; J.J. Phillips of Janis, Phillips & Co., wholesale dry goods; Henry Rhorer, president, Provident Chemical Works; Charles W. Bullen, president; and W.H. Graham, cashier. The officers were Chas. W. Bullen, president; E.F. Williams, vice president; C.F. Gauss, 2d vice president; W.H. Graham, cashier; and J.S. Marmaduke, assistant cashier.[8]

On April 2, 1897, Charles W. Bullen, president of the National Bank of the Republic died of heart failure the result of pneumonia. Mr. Bullen's death was a distinct loss to St. Louis' banking interests. He was born in Louisville, Kentucky, about 44 years ago. His parents died while he was a boy and he lived with an aunt at Henderson, Kentucky. He went to Missouri and settled first at Lynn Creek and then at Sedalia where he took a minor position in the Citizens National Bank and worked his way up to cashier. early in the 80's he went to St. Louis as assistant cashier of the Continental Bank and in five years was cashier. He was largely instrumental in having the institution converted into a national bank. In 1892 Mr. Bullen was elected president of the National Bank of the Republic. He married Miss Adele Gauss 15 years ago and three children were born of the union.[9]

On April 12, 1897, the National Bank of the Republic decided to go out of business and the directors made an arrangement to liquidate through the Merchants-Laclede National Bank. The bank would transfer its business and good-will to the Merchants-Laclede at once. The liquidation was due to the recent death of Charles W. Bullen, its president. He had been with the bank almost since its organization, and its affairs were so closely identified with him personally that when he died it was said the bank would probably go out of business for want of a guiding spirit. None of the directors cared to assume the responsibility of the presidency as they had other extensive business interests. Mr. C.F. Gauss, father-in-law of Mr. Bullen and vice president was temporarily elected to full Mr. Bullen's place. The National Bank of the Republic stock had climbed on rumor of a change and closed at $108 with $115 asked. The bank had deposits of about $1,350,000 and capital stock of $300,000 having been reduced from $500,000. It had a reserve of 65% and was expected to liquidate at about $120 a share. President William H. Lee said, "our friends of the National Bank of the Republic have decided to transfer their business to us and Mr. Gauss has kindly consented to take a seat in or board."[10]

In October 1905, Captain H.C. Hieatt, a native of Kentucky died in San Francisco at the age of 73 years. He lived at Nevada City for two years in the '80s and was a partner with George E. Turner and Edwin Tilley in the ownership of the Texas mine at Willow Valley.[11] Before coming to St. Louis, he was a vice president of the State National Bank of Fort Worth, Texas.

Official Bank Title

1: The National Bank of the Republic of St. Louis, MO

Bank Note Types Issued

1882 Brown Back $50-$100 proof sheet
1882 Brown Back $50-$100 proof sheet approved March 10, 1890. Courtesy of the Smithsonian Institution Archives

A total of $115,350 in National Bank Notes was issued by this bank between 1890 and 1897. This consisted of a total of 1,538 notes (1,538 large size and No small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
1882 Brown Back 50-100 1 - 769

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1890 - 1897):

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

  • Saint Louis, MO, 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
  • Missouri Historical Society, Odd Fellows building (Southeast corner of Ninth and Olive Streets), accessed Dec. 9, 2024.
  1. ↑ St. Louis Post-Dispatch, St. Louis, MO, Sat., Mar. 15, 1890.
  2. ↑ St. Louis Post-Dispatch, St. Louis, MO, Sun., Dec. 10, 1893.
  3. ↑ The Galveston Daily News, Galveston, TX, Mon., Nov. 4, 1889.
  4. ↑ St. Louis Globe-Democrat, St. Louis, MO, Sun., Mar. 30, 1890.
  5. ↑ St. Louis Post-Dispatch, St. Louis, MO, Wed., May 14, 1890.
  6. ↑ Oakland Enquirer, Oakland, CA, Tue., June 7, 1892.
  7. ↑ St. Louis Post-Dispatch, St. Louis, MO, Sun., Dec. 31, 1893.
  8. ↑ St. Louis Post-Dispatch, St. Louis, MO, Sun., Feb. 25, 1894.
  9. ↑ St. Louis Post-Dispatch, St. Louis, MO, Sat., Apr. 3, 1897.
  10. ↑ St. Louis Globe-Democrat, St. Louis, MO, Tue., Apr. 13, 1897.
  11. ↑ Daily Miner-Transcript, Nevada City, CA, Tue., Oct. 31, 1905.
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