National Union Bank, Monticello, NY (Charter 1503)

From Bank Note History
Jump to navigation Jump to search
Postcard of The National Union Bank of Monticello, New York, ca1890s.
Postcard of The National Union Bank of Monticello, New York, ca1890s. Courtesy of Adam Stroup

National Union Bank, Monticello, NY (Chartered 1865 - Closed (Merger) 1978)

Town History

Postcard of the Liberty Highway from Wurtsboro Mountain looking toward highway going over Bloomingburg Mountain, elevation 2000 feet, 10 miles from Monticello, New York, ca1920s.
Postcard of the Liberty Highway from Wurtsboro Mountain looking toward highway going over Bloomingburg Mountain, elevation 2000 feet, 10 miles from Monticello, New York, ca1920s.  Courtesy of Adam Stroup

Monticello is a village located in Thompson, Sullivan County, within the Catskills region of New York. The population was 6,726 at the 2010 census. It is the seat for the Town of Thompson and the county seat of Sullivan County. The village was named after the residence of Thomas Jefferson.

On March 20, 1801, an act was passed authorizing the building of a new turnpike road from the Hudson River to the Delaware through what was then Ulster and Orange counties. There were two important reasons for this undertaking. One was to facilitate travel between Newburgh and the rich coalfields of Pennsylvania and the other was to provide a suitable passage for large droves of cattle and wood products taken from the virgin forests of Sullivan County.

Two brothers, Samuel F. Jones and John Patterson Jones, built Monticello. The turnpike company entrusted Samuel F. Jones to explore the vast forests west of the Mamakating valley to find the best route for the new turnpike. While so engaged, Jones foresaw that Ulster County would undergo many changes and growth when the new turnpike was completed, He also realized that because of this growth a new county would ultimately be formed out of the southwestern part of the county. He predicted the county seat for this new county would be located along the new turnpike. Returning home, Samuel related his predictions and vision to his younger brother, John.

On March 27, 1809, by an act of the Legislature, Sullivan County was created from part of Ulster. In June the new county government was organized and John P. Jones became the first County Clerk. He was later elected state senator and held several other public offices. Samuel F. Jones became one of the county's first judges and in 1811, when a postal route went into operation from Newburgh to Ithaca, New York, Samuel became Monticello's first postmaster.

Monticello had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes. Monticello also had three Obsolete Banks that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).

Bank History

An Obsolete $5 bank note from The Union Bank of Sullivan County, Haxby NY-1390, dated Oct. 1, 1857 with pen signatures of George Bennett, Cashier and I.P. Tremain, President.
An Obsolete $5 bank note from The Union Bank of Sullivan County, Haxby NY-1390, dated Oct. 1, 1857 with pen signatures of George Bennett, Cashier and I.P. Tremain, President.  Courtesy of Heritage Auctions.
  • Organized May 16, 1865
  • Chartered August 4, 1865
  • Succeeded Union Bank
  • Bank was Open past 1935
  • For Bank History after 1935 see FDIC Bank History website
  • Merged into Chester National Bank in Chester, NY, December 30, 1978

In January 1852, the Union Bank of Sullivan County reported Bonds and mortgages of $48,058, New York State Stock, 5% of $28,180, U.S. Bonds, 5% of $20,000, U.S. Bonds, 6% of $6,000 against circulation of $100,000. The Union Bank of Sullivan County operated from 1851-65, when it became the National Union Bank of Monticello, charter number 1503.

On January 13, 1917, the stockholder elected the following directors:  John F. Tymeson, George H. Smith, E.H. Strong, A.A. Calkin, George L. Cooke, John C. Taylor, Jay Simpson, Wilbur J. Prince, and H. Lynden Hatch.  The officers for the year were E.H. Strong, president; Hon. George H. Smith, vice president, and A.A. Calkin, cashier. 

On January 10, 1933, the directors were re-elected. They were George L. Cooke, A.A. Calkin, Jay Simpson, H. Lynden Hatch, A.J. Hammond, Stephen Trowbridge, J.M. Kelly, Morris Zeizer, Frank Wiess, Lius de Hoyos, I. Bogner, J.R. O'Neil, W. Ray Elmore, and Dr. Ralph S. Breakey. Officers elected were Alonzo A. Calkin, president; George L. Cooke, vice president; John R. O'Neil, cashier; Frank J. Armstrong, assistant cashier; Blake Bates, Walter Pelton, George Stackhouse, and Lindsley P. Calkin, tellers.

Official Bank Title(s)

1: The National Union Bank of Monticello, NY

Bank Note Types Issued

1882 Brown Back $5 bank note with pen signatures of E.H. Strong, Cashier and George E. Bennett, President.
1882 Brown Back $5 bank note with pen signatures of E.H. Strong, Cashier and George E. Bennett, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 2 $10 bank note with printed signatures ofJ.R. O'Neill, Cashier and A.A. Calkin, President.
1929 Type 2 $10 bank note with printed signatures ofJ.R. O'Neill, Cashier and A.A. Calkin, President. Courtesy of Heritage Auctions, www.ha.com

A total of $1,541,930 in National Bank Notes was issued by this bank between 1865 and 1978. This consisted of a total of 187,834 notes (168,328 large size and 19,506 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 - 2000
Original Series 4x5 1 - 3800
Original Series 3x10-20 1 - 3030
Original Series 50-50 1 - 150
Series 1875 4x5 1 - 3210
Series 1875 3x10-20 1 - 1614
1882 Brown Back 4x5 1 - 4533
1882 Brown Back 3x10-20 1 - 2804
1902 Red Seal 4x5 1 - 1675
1902 Red Seal 3x10-20 1 - 1210
1902 Date Back 4x5 1 - 3200
1902 Date Back 3x10-20 1 - 2300
1902 Plain Back 4x5 3201 - 10710
1902 Plain Back 3x10-20 2301 - 7421
1929 Type 1 6x10 1 - 1088
1929 Type 1 6x20 1 - 296
1929 Type 2 10 1 - 9042
1929 Type 2 20 1 - 2160

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1978):

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

  • Monticello, NY, 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 Albany Evening Journal, Albany, NY, Mon. Jan. 12, 1852.
  • Middletown Times-Press, Middletown, NY, Sat., Jan. 13, 1917.
  • Middletown Times Herald, Middletown, NY, Wed., Jan. 11, 1933.