National Union Bank, Monticello, NY (Charter 1503)
National Union Bank, Monticello, NY (Chartered 1865 - Closed (Merger) 1978)
Town History
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
- 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
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:
- COL Israel Phelps Tremain, 1865-1865
- Archibald Campbell Niven, 1866-1881
- COL Israel Phelps Tremain, 1882-1883
- George Elliott Bennett, 1884-1913
- Edwin H. Strong, 1914-1924
- Alonzo A. Calkin, 1925-1935
Cashiers:
- George Elliott Bennett, 1865-1865
- COL Israel Phelps Tremain, 1866-1881
- George Elliott Bennett, 1882-1883
- Edwin H. Strong, 1884-1913
- John T. Ferrie, 1914-1915
- Alonzo A. Calkin, 1916-1924
- John Robert O'Neill, 1925-1934
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- New York Bank Note History
- General information on Monticello (Wikipedia)
- General information on Sullivan County (Wikipedia)
- General information on New York (Wikipedia)
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.