National Security Bank, Philadelphia, PA (Charter 1743)

National Security Bank on the southwest corner of Franklin Street and Girard Avenue, Philadelphia, Pennsylvania. The bank was built in 1870 in the Kensington neighborhood.

National Security Bank/National Security Bank & TC, Philadelphia, PA (Chartered 1870 - Liquidated 1930)

Town History

Photo of the old National Security Bank, ca2022. Courtesy of Google Maps

Philadelphia is located in Philadelphia County, in the southeast corner of Pennsylvania. It is currently the sixth-most-populous city in the United States and the most populous city in the state of Pennsylvania. It is also the second-most populous city in the Northeastern United States, behind New York City.

Philadelphia is one of the oldest municipalities in the United States. William Penn, an English Quaker, founded the city in 1682 to serve as capital of the Pennsylvania Colony. It grew on the steep banks of the Delaware River into a hub of international trade and monetary influence. The royal post-office was established in this city by Franklin. Mail would pass uninterrupted from Crown to Republic, the one royal department which did so. The Colonies used the old expresses and mail routes leading up to and through the revolution. Philadelphia played an instrumental role in the American Revolution as a meeting place for the Founding Fathers of the United States, who signed the Declaration of Independence in 1776 in Carpenters' Hall, and the Constitution at the Philadelphia Convention of 1787 in Independence Hall.

Philadelphia was the second Capitol after New York City during George Washington's presidency. On April 2, 1792, the United States Mint opened its doors here with David Rittenhouse, former treasurer of Pennsylvania, the first director. The American Philosophical Society was the first scientific society in the land and still meets in the hall Franklin secured for it. Former townships and boroughs of Bristol, Richmond, Kensington, Germantown, Manayunk, Northern Liberties, Southwark, to name a few, were consolidated into Philadelphia in 1854 which then occupied all of Philadelphia County.

During the National Bank Note Era (1863-1935), the population of Philadelphia was 674,022 in 1870, growing to 1,950,961 in 1930. Its highest population was 2,071,605 in 1950, and the current population is estimated at 1,584,064 (2019).

Philadelphia had 70 National Banks chartered during the Bank Note Era, and 62 of those banks issued National Bank Notes.

Bank History

Series of 1875 $5 bank note with pen signatures of G.W. Cox, Cashier and George Gelbach, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

1882 Brown Back $5 bank note with SN 1 and pen signatures of G.W. Cox, Cashier and Isaac A. Sheppard, President. Courtesy of Heritage Auctions, www.ha.com

1882 Brown Back $20 bank note with pen signatures of J.H. Dripps, Cashier and Philip Doerr, President. HA Courtesy of Heritage Auctions, www.ha.com

• Organized October 8, 1870
• Chartered December 2, 1870
• 2: Liquidated June 30, 1930
• 2: Absorbed by Kensington Trust Company, Philadelphia with new title Kensington Security Bank and Trust Company June 30, 1930

In January 1874, the directors were George Gelbach, Jacob Rech, Philip Doerr, Isaac A. Sheppart, Wm. Sadler, Peter Schemm, Lewis Kensil, Jr., V.P. McCully, Charles Psotta, Wm. Allen, John Kuntz, J.M. Hummell, and Wm. Cook.

In January 1878, the directors were George Gelbach, Isaac A. Sbeppard, Jacob Rech, Philip Doerr, Peter Schemm, Lewis Kensil, Jr., V.P. McCulley, William Allen, John Kuntz, J.M. Hummell, Louis Bergdoll, V.C. Sweatman and W.H. Horn.

In January 1880, the directors were George Gelbach, Isaac A. Sbeppard, Jacob Rech, Philip Doerr, Peter Schemm, V.P. McCulley, William Allen, William Allen, J.M. Hummel, Louis Bergdoll, V.C. Sweatman, W.H. Horn, C.G. Bertin, and James Doak, Jr.

On September 30, 1886, Mr. George Gelbach, president of the National Security Bank, died at his home, No. 1701 Master street. He was at the bank on Saturday, but became seriously ill the next day. Mr. Gelbach was horn in Asfeld, Westphalia, January 17, 1811. He came to Philadelphia when quite young and learned the trade of brass founding with George C. Baker. of Kensington. In 1838 he engaged in business for himself, having his shop on Howard Street above Girard Avenue. He retired in 1864. In 1871 the National Security Bank was organized and Mr. Gelbach became its president, a position be retained to the time of his death. He was interested in the Stony Creek Woolen Mills and the Warwick Iron Company of Pottstown. He was a trustee of Franklin and Marshall College, of Bethany Orphan's home at Womelsdorf, Pennsylvania., and a long time treasurer of the General Synod of the Reformed Church.

In June, 1929, stockholders approved reduction of par value of capital stock to $10 from $100 per share, and increase of the capital stock to $400,000 from $250,000. Change in corporate title of the bank to the National Security Bank and Trust Company of Philadelphia was also approved.

On July 1, 1930, the Kensington Security Bank and Trust Company announced the consolidation of the Kensington Trust Company and the National Security Bank & Trust Co. effective June 30th. The institution had resources of $28.5 million, Capital of $1.3 million, Surplus and Undivided Profits of $4.12 million and deposits of over $22 million. Three offices were located on Kensington & Allegheny Avenues, Girard Avenue at Franklin Street, and Broad Street and Allegheny Avenue. The directors were William H. Brehm, Harry Brocklehurst, William D. Burk, William G. Berlinger, F. William Doerr, Francis J. Doyle, Fred J. Finkenauer, Samuel S. Fretz, Jr., William J. Geggis, James O. Hackenberg, William A. Hagan, Richard Hirst, William H. Horn, James Hulton, Samuel P. Kenworthy, George Kessler, Jr., William Kommer, Charles L. Martin, Harry P. Mauger, Robert McNeil, Philip Publicker, John B.S. Rex, H. James Sautter, Frank Schoble, Walter Scholes, Rolla L. Smith, M.D., John W. Whiting, and Reuben Windisch. The officers were Charles L. Martin, president; John W. Whiting, first vice president; Harry P. Mauger, second vice president; Charles H. Chapman, vice president and treasurer; William H. Brehm, vice president; Frank Schoble, vice president; John B.S. Rex, vice president; George Kessler, Jr., vice president; Mortimer N. Eastburn, title and trust officer; John W. Kommer, secretary and assistant treasurer; George Ovington, assistant treasurer; C.G. Ziegler, assistant treasurer; Charles W. Schoch, assistant secretary; Joseph F. Fox, assistant secretary; Fred G. Muhl, assistant title & trust officer; and Edward Clymer, assistant trust officer.

Official Bank Titles

1: The National Security Bank of Philadelphia, PA

2: The National Security Bank and Trust Company of Philadelphia, PA (6/22/1929)

Bank Note Types Issued

1902 Plain Back $20 bank note with printed signatures of Charles H. Chapman, Cashier and J.H. Dripps, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

1902 Plain Back $20 bank note with printed signatures of Charles H. Chapman, Cashier and Jno. W. Whiting, President. The printing was applied too high, removed and reapplied. On the back, offset printing of the signatures may be seen. HA Courtesy of Heritage Auctions, www.ha.com

1929 Type 1 $5 bank note with printed signatures of Charles H. Chapman, Cashier and Jno. W. Whiting, President. Courtesy of Heritage Auctions, www.ha.com

A total of $6,191,410 in National Bank Notes was issued by this bank between 1870 and 1930. This consisted of a total of 747,250 notes (711,694 large size and 35,556 small size notes).

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

Series/Type	Sheet/Denoms	Serial#s	Sheet Comments
1: Original Series	4x5	1 - 4000
1: Original Series	3x10-20	1 - 1601
1: Original Series	50-100	1 - 1033
1: Series 1875	4x5	1 - 6265
1: Series 1875	3x10-20	1 - 3077
1: 1882 Brown Back	4x5	1 - 16000
1: 1882 Brown Back	3x10-20	1 - 17090
1: 1882 Date Back	4x5	1 - 8565
1: 1882 Date Back	3x10-20	1 - 4486
1: 1902 Date Back	4x5	1 - 27500
1: 1902 Date Back	3x10-20	1 - 20900
1: 1902 Plain Back	4x5	27501 - 68592
1: 1902 Plain Back	3x10-20	20901 - 47731
2: 1929 Type 1	6x5	1 - 3753
2: 1929 Type 1	6x10	1 - 1743
2: 1929 Type 1	6x20	1 - 430

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1870 - 1930):

Presidents:

• George Gelbach, 1871-1885
• Isaac Aplin Sheppard, 1886-1897
• Jacob Rech, 1898-1904
• Philip Doerr, 1905-1916
• J. Harper Dripps, 1917-1928
• John W. Whiting, 1929-1929

Cashiers:

• John A. Lane, 1871-1871
• George William Cox, 1872-1895
• J. Harper Dripps, 1896-1916
• William Henry McKee, 1917-1923
• John W. Whiting, 1924-1924
• Charles H. Chapman, 1925-1929

Other Bank Note Signers

• Philip Doerr signed notes as Vice President
• There are currently no known Assistant Cashier bank note signers for this bank.

Wiki Links

• Pennsylvania Bank Note History
• General information on Philadelphia (Wikipedia)
• General information on Philadelphia County (Wikipedia)
• General information on Pennsylvania (Wikipedia)

Sources

• Philadelphia, 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
• Castner, Samuel, Jr., 1843-1929 - Compiler. National Security Bank. Scrapbooks. Free Library of Philadelphia: Philadelphia, PA, (accessed Aug 23, 2022).