National Union Bank, Jackson, MI (Charter 11289)

Postcard showing the 17-story tower constructed by the National Union Bank of Jackson, Michigan. It would be occupied by the Union & Peoples National Bank after the merger of the Peoples National and Union National Banks. Courtesy of Adam Stroup

National Union Bank/National Union Bank & TC, Jackson, MI (Chartered 1919 - Liquidated 1930)

Town History

Jackson is the only city and county seat of Jackson County, Michigan. As of the 2010 census, the city population was 33,534, down from 36,316 at the 2000 census. Located along Interstate 94 and U.S. Route 127, it is approximately 40 miles west of Ann Arbor and 35 miles south of Lansing.

Founded in 1829, it was named after President Andrew Jackson. Michigan's first prison, Michigan State Prison (or Jackson State Prison), opened in Jackson in 1838 and remains in operation. For the longest time, the city was known as the "birthplace of the Republican Party" when politicians met in Jackson in 1854 to argue against the expansion of slavery, although the political party now formally recognizes its birthplace as being Ripon, Wisconsin. Nevertheless, the Republican Party's earliest history dates back to Jackson and is commemorated by a plaque in the city's Under the Oaks City Park, which has since been visited by numerous Republican presidents.

Numerous railroad connections were constructed to Jackson, connecting it to many markets. The local invention of the duplex corset by Bortree helped make Jackson a center of corset manufacturing. By the early 20th century, as many as 16 manufacturers of women's corsets operated here; the majority of which were located on Cortland and Pearl streets. As elastics were adopted in manufacturing and fashions changed, the corset industry quickly declined. The majority of the corset manufacturers in Jackson closed their doors by 1920. Only three of the original corset companies survived past the 1920s, by changing their production to therapeutic and prosthetic support garments and devices. At the beginning of the twentieth century, Jackson became an early automotive manufacturing center that attracted southerners and immigrants to the city's numerous factories, which saw its population increase significantly.

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

Bank History

Organized January 14, 1919
Chartered January 18, 1919
Conversion of The Union Bank of Jackson with one branch
2: Absorbed 13072 January 20, 1930 (East Side National Union Bank (No Issue), Jackson, MI)
2: Liquidated March 29, 1930
2: Consolidated with 1533 (Peoples NB/Union & Peoples NB, Jackson, MI)

Charles C. Bloomfield was president of the Union Bank in Jackson, wholesaler, timber dealer and merchant. While attending the 1913 annual convention of the Michigan Bankers' Association held in Lansing, he made a few remarks on tariffs. "While the tariff may have its effect in slowing us down, yet this country is too large and too prosperous to be plunged into any panic because, of the fact that the tariff is being readjusted." Mr. Bloomfield had been in the banking business in Michigan for the past 30 years and had experienced three panics. Prior to entering the banking business Mr. Bloomfield was the Michigan state representative for the Standard Oil Company back in the seventies. He was probably as well known in Michigan banking and commercial circles as any man in the state and his business enterprises extended to the western coast and into the south. "A little slowing down." said the pioneer banker, "would do us good, I believe. We have been going pretty-fast during the past decade and too much business nowadays is done on borrowed capital. The tariff readjustment will undoubtedly have some effect in putting the brakes on commercially and that will be good for us." "One thing that ails the United States is the lack of a better currency system whereby we could have more elasticity. The so-called panic of October 1907 was no panic at all. It merely demonstrated that we haven't adequate currency laws. There isn't money enough in the country and it but illustrated that there should be some radical change in our currency laws. Money is tight right now and there are a number of causes that one may attribute it to, one of them being the Balkan war, but the tariff changes aren't going to make this country go to the dogs. We are too prosperous and too well established commercially for anything like that to happen." Mr. Bloomfield, who is full of energy for his age, was associated with J.H. Moores, president of the Chamber of Commerce of Lansing, for a number of years in timber interests and was also Identified in a business way with the late Edward W. Sparrow. In addition to his Interests In Jackson, Mr. Bloomfield has associations with a number of local manufacturers and business men. His son, Arthur C. Bloomfield, was cashier of the Union Bank of Jackson and on the advisory board of the Security Trust Company at Fort and Griswold Streets, Detroit.

On October 13, 1929, consolidation of the Peoples National Bank with the National Union Bank and Trust Company was announced, subject to confirmation by stockholders. The National Union Bank was building a 17-story bank and office structure; it was recently affiliated with the Guardian Detroit Union Group, Inc. Capital assets of the combination was $1,500,000 and resources exceeded $18,000,000.

Official Bank Title(s)

1: The National Union Bank of Jackson, MI

2: National Union Bank and Trust Company of (8/19/1927), Jackson, MI

Bank Note Types Issued

1902 Plain Back $5 bank note with printed signatures of H.A. Reece, Cashier and C.C. Bloomfield, President. Courtesy of Heritage Auctions, www.ha.com

1902 Plain Back $20 bank note with printed signatures of R.O. Bisbee, Cashier and F.D. Bennett, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

1929 Type 1 $5 bank note with printed signatures of H.A. Reece, Cashier and A.C. Bloomfield, President. The Government Printing Office (GPO) prepared the overprinting plate used to produce this note. Courtesy of Heritage Auctions, www.ha.com

1929 Type 1 $10 bank note with printed signatures of H.A. Reece, Cashier and A.C. Bloomfield, President. Barnhart Brothers & Spindler (BBS) prepared the overprinting plate used to produce this note. Courtesy of Heritage Auctions, www.ha.com

A total of $3,904,330 in National Bank Notes was issued by this bank between 1919 and 1930. This consisted of a total of 563,408 notes (522,200 large size and 41,208 small size notes).

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

Series/Type	Sheet/Denoms	Serial#s	Sheet Comments
1: 1902 Plain Back	4x5	1 - 87753
1: 1902 Plain Back	3x10-20	1 - 21942
2: 1902 Plain Back	4x5	1 - 11012
2: 1902 Plain Back	3x10-20	1 - 9843
2: 1929 Type 1	6x5	1 - 3604
2: 1929 Type 1	6x10	1 - 2667
2: 1929 Type 1	6x20	1 - 597

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1919 - 1930):

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

Jackson, MI, Wikipedia, https://en.wikipedia.org/wiki/Jackson,_Michigan
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
Lansing State Journal, Lansing, MI, Wed., June 11, 1913.
Detroit Free Press, Detroit, MI, Mon., Oct. 14, 1929.