National State Bank/National State and City Bank, Richmond, VA (Charter 8666)

A 1921 photo of The National State and City Bank at 1111 East Main Street. The Federal Reserve Bank at 1109 Main is on the right in the building formerly occupied by the City Bank before it merged with the National State Bank in 1910.

National State Bank/National State and City Bank, Richmond, VA (Chartered 1907 - Liquidated 1922)

Town History

Ad from 1907 for the National State Bank of Richmond, chartered April 29, 1907.

Richmond is the capital city of the Commonwealth of Virginia. It was incorporated in 1742 and has been an independent city since 1871. As of the 2010 census, the city's population was 204,214; in 2020, the population grew to 226,610, making Richmond the fourth-most populous city in Virginia. The Richmond Metropolitan Area has a population of 1,260,029, the third-most populous metro in the state.

Richmond is at the fall line of the James River, 44 miles west of Williamsburg, 66 miles east of Charlottesville, 91 miles east of Lynchburg and 92 miles south of Washington, D.C. Surrounded by Henrico and Chesterfield counties, the city is at the intersections of Interstate 95 and Interstate 64 and encircled by Interstate 295, Virginia State Route 150 and Virginia State Route 288. Major suburbs include Midlothian to the southwest, Chesterfield to the south, Varina to the southeast, Sandston to the east, Glen Allen to the north and west, Short Pump to the west and Mechanicsville to the northeast.

The site of Richmond had been an important village of the Powhatan Confederacy, and was briefly settled by English colonists from Jamestown from 1609 to 1611. The present city of Richmond was founded in 1737. It became the capital of the Colony and Dominion of Virginia in 1780, replacing Williamsburg. During the Revolutionary War period, several notable events occurred in the city, including Patrick Henry's "Give me liberty or give me death" speech in 1775 at St. John's Church, and the passage of the Virginia Statute for Religious Freedom written by Thomas Jefferson. During the American Civil War, Richmond was the capital of the Confederacy.

The Main Street Banking Historic District is a national historic district located in downtown Richmond, Virginia.

Richmond had 11 National Banks chartered during the Bank Note Era, and all 11 of those banks issued National Bank Notes. Richmond also had one Obsolete Bank that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).

Bank History

A 1912 photo of the main vault of the National State and City Bank.

A 1912 photo of the main banking room of the National State and City Bank.

Organized April 18, 1907
Chartered April 29, 1907
Conversion of The State Bank of Virginia
Opened for business May 1, 1907
Consolidated with The City Bank of Richmond June 7, 1910 and adopted second title (2) National State and City Bank
2: Liquidated August 17, 1922
2: Absorbed by State and City Bank & Trust Company of Richmond

The State Bank of Virginia opened its books on January 13, 1870 in the office of R.H. Manry & Co. in Richmond. The Officers and directors received and accepted the charter granted by Judge Alfred Morton. Subscriptions of $250,000 were solicited with 10% down then 10% every 60 days afterwards. The officers for the first year were William H. MacFarland, president; John M. Goddin, treasurer. Directors were W.H. MacFarland, Franklin Stearns, Richard B. Hazall; George S. Palmer, Charles M. Wallace, James B. Dupuy, Peter W. Grubbs, William E. Tanner, Albert Ordway, John L. Bacon, William S. Donnan, Alexander Cameron, and Joseph R. Anderson. In 1871 John L. Bacon became president and the following year William M. Hill was elected cashier. In 1887 John S. Ellett succeeded Mr. Bacon as president.

On April 29, 1907, the National State Bank of Richmond received authorization to commence the business of banking from the Comptroller of the Currency, Wm. B. Ridgely. This was a conversion of the State Bank of Virginia with capital stock of $500,000, surplus of $300,000, deposits of $2,600,000, loans and discounts of $2,875,000.

The directors for 1908 were J.L. Antrim, John S. Ellett, Wm. M. Hill, James D. Crump, Jos. M. Fouqurean, Edward C. Mayo, A.R. Ellerson, Horace S. Hawes, and Granville G. Vallentine. Officers were John S. Ellett, president; Wm. M. Hill, cashier; and Julien H. Hill, assistant cashier.

In 1871, organizers of the City Bank of Richmond realized one bank was insufficient for the state capital's needs. In 1880 the bank moved to its new banking house at 1923 Main Street, four doors west of Fourteenth Street. In January 1885, the bank had capital of $100,000, surplus of 24,000 with Edward Cohen, president and Walker Hill, cashier. In 1890 the cashier was William Sinton and the location was 1109 Main Street; later his brother, J.W. Stinton took over as cashier. In May 1910, the consolidation of the City Bank of Richmond and the National State Bank, a matter under consideration for a long time, received favorable notice from the board of the City Bank. The consolidation was completed on June 7, 1910. The merged institution had capital of $1,000,000 and a surplus of about $600,000. Officers were WM. H. PALMER, President. JOHN S. ELLETT, Vice-President. WM. M. HILL, 2d Vice-President, J. W. SINTON, 3d Vice-President. JULIEN H. HILL, Cashier. Successful business men of the city of Richmond constituted the Board of Directors: E. B. ADDISON, of Virginia Fire and Marine Insurance Co.; JAMES H. ANDERSON, of George W. Anderson & Sons.; J. L. ANTRIM, of C.W. Antrim & Sons. JAMES D. CRUMP, President of B.F. Johnson Publishing Co.; JOHN S. ELLETT, Vice-President; A. R. ELLERSON, of the Virginia-Carolina Chemical Co.; JOSEPH M. FOURQUREAN, of Fourqurean, Temple & Co.; HORACE S. HAWES, of S.H. Hawes & Co.; WILLIAM M. HILL, Vice President; EDWARD C. MAYO, Business Manager of P. H. Mayo Branch American Tobacco Company; EDWIN A. PALMER, Principal Agent, Mutual Assurance Society; WILLIAM H. PALMER, President; GRANVILLE G. VALENTINE; President Valentine Meat Juice Company; STEWART M. WOODWARD, of Woodward & Son.

In September 1912, work was completed on the remodeling, enlarging and equipping, and the bank was installed again in its home at 1111 East Main Street. During construction the bank occupied temporary quarters next door. Passing through the entrance vestibule lined with marble, one entered the main banking room. A double row of massive pillars extended the length of the counting room with Italian marble flooring, the officers' departments and the counters were arranged on either side constructed of handsome, inlaid Circassian walnut and heavy plate glass. To the right was a room provided for private conferences and to the left was a ladies' writing room. Beyond the counting room was the bookkeepers' department and the mailing department, and still further back was the safe deposit vault with its coupon booths and in the rear was the president's room where the board of directors met.

Photos of Samuel P Ryland and Jesse F. Wood, Cashier and Assistant Cashier, respectively in 1919.

The new line-up of officers, effective January 1, 1919, all of whom were natives of Richmond, were as follows: Wm. H. Palmer, president; Julien H. Hill, vice president; J.W. Sinton, vice president; R.E. Cunningham, vice president; Samuel P. Ryland, cashier; Jesse F. Wood, assistant cashier; and B. Frank Dew, auditor.

The report of the condition of the National State and City Bank on December 31, 1921 showed capital stock of $1,000,000; $413,300 in circulating notes outstanding, and deposits of $5,374,931.47 for liabilities totaling $16,818,481.59. Directors that attested to the correctness of the report were Hugh Antrim, James H. Crump, E.B. Sydnor, and Julien H. Hill.

Stockholders of the Old Dominion Trust Company met in their facility on Ninth and Main Streets to elect directors in January 1922. Directors elected were J.P. Brady, M.C. Branch, S.T. Beveridge, Johathan Bryan, James H. Dooley, E.E. Coles, W.M. Habliston, Edwin A. Palmer, H.R. Pollard, Jr., John Garland Pollard, W.S. Rhoads, and E.A. Saunders, Jr. Officers elected were W.M. Habliston, president; W.H. Slaughter, vice president and secretary; S.T. Beveridge, vice president; W.J. Whitehurst, assistant treasurer; Joseph M. Hurt, Jr., trust officer; E.E. Wilson, assistant secretary.

On August 17, 1922, The National State and City Bank of Richmond announced it was closing its affairs. The State and City Bank & Trust Company by means of an amalgamation or merger of the National State and City Bank of Richmond and the Old Dominion Trust Company also of Richmond began business in the banking house on 1111 East Main Street. The State and City Bank & Trust Company boasted capital and surplus of $2,400,000 and resources exceeding $21,700,000. The new institution planned a new thirteen-story building on Main Street. Their Uptown Branch was on Harrison and Broad Streets and the Northside Branch on 2916 North Avenue.

In January 1923, directors of the State and City Bank & Trust Co. were James H. Anderson, Hugh Antrim, S.T. Beveridge, Joseph P. Brady, Spencer L. Carter, James D. Crump, Robert S. Crump, H.W. Ellerson, Homer L. Ferguson, Horace S. Hawes. Two new directors were added: B.E. Geer of Greenville, SC; and Oscar E. Parrish of Richmond. Officers were: William H. Palmer, Chairman of the Board; Julien H. Hill, president; R.E. Cunningham, W.S. Ryland, B. Frank Dew, Harry H. Augustine, Walter S. Robertson, Tristram T. Hyde, Jr., vice presidents; Jesse F. Wood, vice president and cashier; Joseph M. Hurt, Jr., trust officer; S.Y. Tyree, Lawson H. Cooke, W.J. Whitehurst, E.E. Wilson, C.B. Fleet, Jr., Stuart W. Phillips, W.H. Gilman, Randolph C. Harrison, J.C. Edens, assistant cashiers; and E.F. Diggs, auditor.

Official Bank Titles

1: National State Bank of Richmond, VA

2: National State and City Bank of Richmond, VA (7/1/1910)

Bank Note Types Issued

1902 Red Seal $10 bank note with pen signatures of William M. Hill, Cashier and John S. Ellett, President. This is an example of a Large Size Replacement National Bank Note. Courtesy of Lyn Knight Auctions, www.lynknight.com

1902 Date Back $5 bank note with a radar SN and penned signatures of Julien H. Hill, Cashier and William H. Palmer, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

A total of $4,223,220 in National Bank Notes was issued by this bank between 1907 and 1922. This consisted of a total of 576,236 notes (576,236 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
1: 1902 Red Seal	4x5	1 - 8750
1: 1902 Red Seal	4x10	1 - 8750
1: 1902 Date Back	4x5	1 - 5557
1: 1902 Date Back	4x10	1 - 1302
2: 1902 Date Back	4x5	1 - 38150
2: 1902 Date Back	4x10	1 - 38050
2: 1902 Plain Back	4x5	38151 - 62650
2: 1902 Plain Back	4x10	38051 - 57050

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1907 - 1922):

Presidents:

Cashiers:

Other Bank Note Signers

There are currently no known Vice President or Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

Richmond, VA, 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://bbdata.banknotehistory.com
The Bankers' Magazine, Vol. 85, July 1912-Dec. 1912, pp 727, 741-745.
Williams, Frances Leigh, "They Faced the Future: A Saga of Growth - A History of The State-Planters Bank and Trust Company and Its Antecedents," January 1, 1951.
Alexandria Gazette, Alexandria, VA, Thu., Jan. 13, 1870.
Richmond Dispatch, Richmond, VA, Fri., Jan. 14, 1870.
Richmond Dispatch, Richmond, VA, Thu., Jan. 1, 1885.
The Times Dispatch, Richmond, VA, Wed., May 1, 1907.
The Times Dispatch, Richmond, VA, Mon., May 4, 1908.
The Times Dispatch, Richmond, VA, Tue., Jan. 10, 1922.
The Times Dispatch, Richmond, VA, Thu., Jan. 12, 1922.
The Times Dispatch, Richmond, VA, Wed., Oct. 4, 1922.
The Times Dispatch, Richmond, VA, Sun., Nov. 19, 1922.
The Times Dispatch, Richmond, VA, Sun., Jan. 21, 1923.