National Eagle Bank, Boston, MA (Charter 993)
National Eagle Bank, Boston, MA (Chartered 1865 - Liquidated 1898)
Town History
Boston is the capital and most populous city of the Commonwealth of Massachusetts and 24th-most populous city in the U.S. The city proper covers about 48.4 square miles with a population of 675,647 in 2020, also making it the most populous city in New England. It is the seat of Suffolk County (although the county government was disbanded on July 1, 1999). The city is the economic and cultural anchor of a substantially larger metropolitan area known as Greater Boston, a metropolitan statistical area (MSA) home to a census-estimated 4.8 million people in 2016 and ranking as the tenth-largest MSA in the country. A broader combined statistical area (CSA), generally corresponding to the commuting area and including Providence, Rhode Island, is home to some 8.2 million people, making it the sixth most populous in the United States.
Boston is one of the oldest municipalities in the United States, founded on the Shawmut Peninsula in 1630 by Puritan settlers from the English town of the same name. It was the scene of several key events of the American Revolution, such as the Boston Massacre, the Boston Tea Party, the Battle of Bunker Hill, and the siege of Boston. Upon American independence from Great Britain, the city continued to be an important port and manufacturing hub as well as a center for education and culture. The city has expanded beyond the original peninsula through land reclamation and municipal annexation. Its rich history attracts many tourists, with Faneuil Hall alone drawing more than 20 million visitors per year. Boston's many firsts include the United States' first public park (Boston Common, 1634), first public or state school (Boston Latin School, 1635), first subway system (Tremont Street subway, 1897), and first large public library (Boston Public Library, 1848).
Today, Boston is a thriving center of scientific research. The Boston area's many colleges and universities make it a world leader in higher education, including law, medicine, engineering and business, and the city is considered to be a global pioneer in innovation and entrepreneurship, with nearly 5,000 startups. Boston's economic base also includes finance, professional and business services, biotechnology, information technology and government activities.
Boston had 84 National Banks chartered during the Bank Note Era, and 75 of those banks issued National Bank Notes. Boston also had 63 Obsolete Banks that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).
Bank History
- Organized March 29, 1865
- Chartered April 7, 1865
- Succeeded Eagle Bank
- Liquidated December 13, 1898
- Succeeded by 5155 (National Shawmut Bank, Boston, MA)
In March 1822, acts to incorporate banks passed at the late session of the Legislature included those for the Eagle Bank, the Columbian Bank, and the City Bank. In addition, an act to establish the City of Boston passed.[1] At the time of Boston's charter as a city, the population was about 46,226, while the area of the city was only 4.8 square miles.
on Monday, October 2, 1826, election of officers took place at the several banks in Boston. For the Eagle Bank, Titus Welles was president and John J. Fisk, cashier. The bank had capital $500,000 and paid a 3% dividend.[2]
In October 1841, the directors of the Eagle Bank were Titus Wells (President), Wm. Almy, Isaac P. Townsend, Andrew Cunningham, Elijah Loring, Francis Skinner, John Skinner, B.L. Thompson, John Williams, B. Thaxter, and Prince Hawes.[3]
Directors elected January 1868 were Robert S. Covell, Frederick Almy, M.C. Ferris, George H. Gray, James L. Little, George Woods Rice, Jacob C. Rogers, and Austin Sumner. The president was Robert S. Covell; and William G. Brooks, Jr. was cashier. The capital was $1,000,000, limited to $1,500,000. As of April 1867, the dividend was 4%.[4]
In January 1869, the directors were Frederick Almy, Robert S. Covell, Mortimer C. Ferris, James L. Little, Geo. Woods Rice, Jacob C. Rogers, Austin Sumner, and Isaac W. Danforth. Mr. Danforth was elected to fill the vacancy caused by the death of Mr. Geo. H. Gray.[5]
On Tuesday, January 13, 1880, stockholders elected the following directors: Henry S. Chase, Robert S. Covell (President), Isaac W. Danforth, Daniel Denny, Mortimer C. Ferris, John Hogg, George Woods Rice, Joseph G. Shed, and Alfred S. Woodworth.[6]
In January 1891, bank elections for the National Eagle Bank were held at 10 A.M., at 95 Milk Steet.[7]
On Tuesday, January 11, 1898, at the annual meeting of the National Eagle Bank, A.S. Woodworth was re-elected president and the following board of directors chosen: John Hogg, Alfred S. Woodworth, Hon. Thos. C. Thacher, William M. Bullivant, Francis M. Stanwood, Charles S. Hamlin, Herbert G. Woodworth, and William B. Kehew.[8]
On November 16, 1898, Comptroller of the Currency Dawes authorized the establishment of the National Shawmut Bank of Boston with a capital of $3,000,000. The organization of the new bank, the successor of nine smaller Boston national banks to be liquidated by the local syndicate, was hastened somewhat by the attempt by rival banks to secure a slice of the prospective business of the Shawmut. Names of some of the most substantial business men in Boston were among the directors and two members of the board and two of the incorporators, Messrs. Webster and Winsor were of the banking house of Kidder, Peabody & Co., indicating that this firm would have very important influence on the new institution. The directors were: James P. Stearns, president of the Shawmut National Bank; Micajah P. Clough of Charles A. Coffin & Co., shoe manufacturers; George M. Coburn of George M. Coburn & Co., shoe manufacturers; Edmund D. Codman, president of the Fitchburg Railroad; Eben S. Draper, the well-known Hopedale manufacturer [Governor of Massachusetts from 1909 to 1911]; William A. Gaston, president of the Boston Elevated Railway Co.; Daniel B. Hallett, president of the Boston National Bank; Hon. Edward D. Hayden, vice president of the Boston & Albany Railroad; Henry L. Higginson of Lee, Higginson & Co.; Henry S. Howe of Lawrence & Co., mill agents; Horatio Newhall, president of the Columbian National Bank; William S. Spaulding of Nash Spaulding & Co.; Frank G. Webster of Kidder, Peabody & Co.; Robert Winsor of Kidder, Peabody & Co.; Jeremiah Williams, president of the North National Bank; Alfred S. Woodworth , president of the National Eagle Bank. The executive staff of the new bank was follows: James P. Stearns, president, Frank H. Barbour cashier, Wallace S. Draper and Charles F. Smith, assistant cashiers. Mr. Barbour was the assistant cashier of the Shawmut and succeeded J.G. Taft, the cashier of the Shawmut National Bank who opted to fill the less onerous position of paying teller. D.B. Hallett was asked to assume the position of vice president, and had the matter under consideration.[9]
On April 16, 1912, William Gray Brooks, Jr., brother of Phillips Brooks, the famous preacher and benefactor who received notoriety for writing the lyrics of the Christmas carol, "O Little Town of Bethlehem," and himself formerly cashier of the old Eagle Bank of Boston, died at his home on Newbury Street. He was 78 years of age. Mr. Brooks was a descendant of the famous old Brooks family of Boston. He was a descendant of Mayflower passenger John Howland on his mother's side. He served in several capacities with the Eagle Bank and was the cashier at the time of its liquidation. He was elected treasurer of the Torrington Company of Torrington, Connecticut, a firm manufacturing needles, bicycle spikes and other steel articles. Since that time he conducted business from an office at 115 Devonshire Street.The Boston Globe, Boston, MA, Wed., Apr. 17, 1912.
Official Bank Title
1: The National Eagle Bank of Boston, MA
Bank Note Types Issued
A total of $2,117,350 in National Bank Notes was issued by this bank between 1865 and 1898. This consisted of a total of 312,268 notes (312,268 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 Original Series 3x1-2 1 - 16500 Original Series 4x5 1 - 9375 Original Series 3x10-20 1 - 4700 Original Series 50-100 1 - 1500 Original Series 500 1 - 200 Series 1875 3x1-2 1 - 7800 Series 1875 4x5 1 - 17365 Series 1875 3x10-20 1 - 9415 Series 1875 50-100 1 - 840 1882 Brown Back 4x5 1 - 10010 1882 Brown Back 3x10-20 1 - 1602 1882 Brown Back 50-100 1 - 160
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1898):
Presidents:
Cashiers:
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Boston, MA, 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
- ↑ The Pittsfield Sun, Pittsfield, MA, Wed., Mar. 6, 1822.
- ↑ Fall River Monitor, Fall River, MA, Sat., Oct. 7, 1826.
- ↑ Boston Post, Boston, MA, Fri., Oct. 8, 1841.
- ↑ The Bankers' Magazine, Vol. 22, July 1867-June 1868, p. 977.
- ↑ Boston Evening Transcript, Boston, MA, Tue., Jan. 12, 1869.
- ↑ Boston Evening Transcript, Boston, MA, Tue., Jan. 13, 1880.
- ↑ Boston Evening Transcript, Boston, MA, Mon., Jan. 12, 1891.
- ↑ The Boston Globe, Boston, MA, Tue., Jan. 11, 1898.
- ↑ Boston Evening Transcript, Boston, MA, Thu., Nov. 17, 1898.