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New Castle County National Bank, Odessa, DE (Charter 1281)

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New Castle County National Bank, Odessa, DE (Chartered 1865 - Open past 1935)

Town History

Odessa is a town in New Castle County, Delaware. Founded as Cantwell's Bridge in the 18th century, the name was changed in the 19th century, after the Ukrainian port city of the same name. The population was 364 at the 2010 census. In 1860 the population was 686, peaking in 1870 at 695.

In 1721, a son of Captain Edmund Cantwell opened a toll bridge over the Appoquinimink Creek at this location. Cantwell's Bridge became an important port that shipped wheat, corn, tobacco, and produce down the creek to the Delaware Bay, where it traveled to distant ports. The town was also home to tanneries that produced leather goods. Cantwell's Bridge would continue to prosper as an agricultural port into the 19th century. In 1855, the grain trade collapsed after the Delaware Railroad was built to the west through Middletown. The railroad was originally proposed to be built through Cantwell's Bridge but the merchants and vessel owners in the town opposed. Following this, the town was renamed to Odessa after the port city of Odesa in Ukraine in an effort to keep the town alive as a major port.

Odessa is approximately 24 miles south of Wilmington and 23 miles north of the capital, Dover. U.S. Route 13 passes through the heart of Odessa along Dupont Parkway, which follows 5th Street northbound and 6th Street southbound.

Odessa had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.

Bank History

  • Organized May 10, 1865
  • Chartered June 15, 1865
  • Succeeded New Castle County Bank
  • Bank was Open past 1935
  • Merged with Equitable Security Trust Company of Wilmington, DE, in 1956

In May 1854, the Smyrna Times reported that New Castle County Bank had gone into operation and its notes were circulated quite numerously. The plates and designs were very pretty and thought to be difficult to counterfeit. Chas. Tatman, Esq., was president and Dr. B.F. Chatham, cashier.[1] Mr. Tatman was also Secretary of the Farmers' Mutual Fire Insurance Company of St. George and Appoquinimink Hundreds.[2] 

On Wednesday evening, March 3, 1869, the Odessa Building and Loan Association organized and about 500 shares of stock were taken. The officers were Charles Beasten, president; Charles Tatman, vice president; H.P. Baker, secretary, J.L. Gibson, treasurer; Charles Tatman, Jr., T.T. Enos, Wm. A. Rhodes, John Appleton, John C. Corbit, John Whitby, Wm. Polk, Turpine W. Rose, James C. Mathews, directors; Daniel Corbit, William Ashcroft, M.D., and Joseph G. Brown, auditors.[3]

On Tuesday, January 11, 1870, the following directors of the New Castle County National Bank were elected: Charles Tatman, Charles Beasten, William Polk, John Appleton, David J. Cummungs, Horatio N. Willits, Samuel Pennington, Henry Davis, Sereck F. Shallcross. At a subsequent meeting of the directors, Charles Tatman was re-elected president.[4]

On Wednesday, January 15, 1902, at the annual meeting the following gentlemen were elected directors for the ensuing year: John C. Corbit, Daniel W. Corbit, Columbus Watkins, James T. Shallcross, James M. Vandegrift, J.K. Williams, Joseph L. Gibson, M.N. Willits, Clarence E. Pool. The board organized by re-electing John C. Corbit, president; Columbus Watkins, vice president; Joseph L. Gibson, cashier; Joseph G. Brown, teller; and D.C. Aspril, clerk.[5]

In January 1906, the following officers were elected for the ensuing year: John C. Corbit, Daniel W. Corbit, James T. Shallcross, Merritt N. Willits, Colen Ferguson, Alexander P. Corbit, Leonard V. Aspril, Jr., Clarence E. Pool, and Francis B. Watkins. The directors organized by re-electing the same officers as follows: John C. Corbit, president; Daniel W. Corbit, vice president; Clarence E. Pool, secretary; Joseph L. Gibson, cashier; and Joseph G. Brown, teller.[6]

In January 1918, at the annual meeting of the stockholders, the following directors were elected: Daniel W. Corbit, Merritt N. Willits, Alexander P. Corbit, Leonard V. Aspril, Jr., Francis B. Watkins, James T. Shallcross, Daniel Corbit, Clarence E. Pool, I. Janvier Woods, J. Lawson Crothers, and Theodore Ferguson. The officers were Daniel W. Corbit, president; Merrit N. Willits, vice president; Joseph G. Brown, cashier; Frank Davis, assistant cashier; and Mary A.W. Davis, bookkeeper.[7]

On January 1, 1919, at the annual meeting of the stockholders the following directors and officials were elected: Daniel W. Corbit, re-elected president; James T. Shallcross, vice president, to fill vacancy caused by death of Merritt N. Willits; Daniel W. Corbit, Alexander P. Corbit, Clarence E. Pool, Daniel Corbit, B.F. Watkins, L.V. Aspril, Jr., James T. Shallcross, J. Woods, L.J. Crothers, Joseph G. Brown, and Theodore Ferguson, directors.[8]

In January 1922, Daniel W. Corbit was elected president; James T. Shallcross, vice president; Clarence E. Pool, secretary; Joseph G. Brown, cashier; Frank Davis, assistant cashier; Mary C. Enos, bookkeeper; D.W. Corbit, Daniel Corbit, Alexander P. Corbit, James T. Shallcross, I. Janvier Woods, Clarence E. Pool, Theodore Ferguson, J. Lawson Crothers, Francis B. Watkins, Leonard V. Aspril, Jr., and Joseph G. Brown, directors.[9] 

On Wednesday, September 20, 1922, Daniel Wheeler Corbit died at his home in Odessa at the age of 79 years. Mr. Corbit, the son of Daniel Corbit, IV, and Elisa Naudain Corbit, was born on March 7, 1843 in the old colonial mansion at Odessa in which he died. He entered Haverford College in 1861. While the Civil War was in progress, he enlisted in the Seventh Delaware Regiment. For many years he was owner and manager of farms near Odessa. He was president of the New Castle County National Bank and the Cantwell Mutual Fire Insurance Co., Odessa institutions, and was also president of the Odessa Loan Association and a director of the Equitable Trust Co. of Wilmington. He was appointed a trustee of Delaware College by Governor Ebe W. Tunnel and subsequently reappointed until the time of his death when the institution was known as the University of Delaware. The colonial mansion in which Mr. Corbit was born and died was built in 1773 by Robert May, an Englishman, who also erected the old Drawyers Presbyterian Church, Elias N. Moore's residence and a dwelling owned by Mrs. E. Tatnall Warner of Wilmington, his sister, and occupied by John W. Watkins.[10]

In January 1923, the New Castle County National Bank of Odessa elected the following officers: Alexander P. Corbit. James T. Shallcross, Clarence E. Pool, Joseph G. Brown, Francis B. Watkins, Lawson W. Crothers, Isaac Janvier Woods, Theodore Ferguson, Daniel Corbit, and Leonard V. Aspril, Jr., directors; Alexander P. Corbit, president; James T. Shallcross, vice president; Clarence E. Pool, secretary; Joseph G. Brown, cashier; Frank Davis, assistant cashier; and May C. Enos, bookkeeper.[11] 

General Alexander P. Corbit died on February 18, 1923. He was born in Odessa on February 20, 1861, the son of John Cowgill and Emily Peterson Corbit. He received his elementary education at Lawrenceville School, near Princeton, New Jersey, and later attended Haverford College, Haverford, Pennsylvania, graduating in 1880. Following his graduation from College, General Corbit returned to Odessa and engaged in agriculture, his farm being one of the largest and most modern in that section of the state. He was one of the foremost scientific farmers in Delaware, and a champion of good roads. He was a Republican in politics and served in both the State Senate and House. He was first elected to the House in 1905, served again at a subsequent session and in 1908 was elected to the Senate, serving at the sessions of 1909 and 1911. After the expiration of his term in the Senate, General Corbit was returned to the House, serving during the session of 1919, as speaker, the special session of 1920 and the session of 1921. Several times he had been mentioned in connection with the Republican nomination for Governor. General Corbit always took an active interest in the Delaware National Guard. He was instrumental in obtaining the enactment of legislation for the construction of modern armory facilities throughout the State and had been chairman of the military affairs committee of the House on several occasions. He served on five governors' staffs being first appointed by Governor Preston Lea. He was subsequently reappointed by Governors' Simeon S. Pennewill, Charles R. Miller, John G. Townsend, Jr., and William D. Denney. He was officially assigned to the ordnance department of the State military organization. During his long service in the Legislature, General Corbit was always friendly to legislation in the interest of Wilmington with the exception of the measures to increase Wilmington's representation. General Corbit was recently elected president of the New Castle County National Bank, succeeding his uncle, Daniel W. Corbit. He was also a director of the Delaware Railroad Company, a member of the University Club of Philadelphia, the Sons of the Revolution and the Delaware Historical Society. He was survived by his brother, Daniel Corbit, and a niece, Miss Anne Peterson Spruance who resided with him at Odessa.[12]

In September 1923, Harry S. Woodkeeper was elected a director succeeding the late J.W. Watkins.[13]

In January 1924, Daniel Corbit was elected president; James T. Shallcross, vice president; Clarence E. Pool, secretary; Leonard V. Aspril, Jr., Theodore Ferguson, Harry S. Woodkeeper, J. Lawson Crothers, Isaac Janvie Woods, Edwin E. Shallcross, directors. Joseph G. Brown was cashier with Frank Davis, assistant cashier; and May C. Enos, bookkeeper.[14]

On Wednesday, January 14, 1925, at the annual election for officers and directors, the following were elected: Daniel Corbit, president; James T. Shallcross, vice president; Clarence E. Pool, secretary; Leonard V. Aspril, J. Lawson Crothers, Theodore Ferguson, Edwin E. Shallcross, Isaac Janvier Woods, Harry S. Woodkeeper, Joseph G. Brown, directors. Joseph G. Brown was cashier with Frank Davis, assistant cashier; and Miss May C. Enos, bookkeeper.[15]

In October 1955, a merger of the Equitable Security Trust Company and the New Castle County National Bank of Odessa was approved by directors of the two banks. Under the merger terms, the bank would assume the name of Equitable Security Trust Co. with the Odessa bank becoming the Odessa bank office of Equitable Security. The agreement called for 1 and 1/2 shares of Equitable Security stock ($25 par) to be issued in exchange for each share of New Castle County National Bank stock ($50 par). The merger plan was subject to approval by stockholders with special meetings planned in January with the merger completed around February 1st. The current officers of the Equitable Security Trust Co. would be the officers of the merged banks with the addition of Mr. Ellis as an assistant vice president in charge of the Odessa office; H. Stanley Townsend, an assistant treasurer; and Mabel R. Harman, an assistant secretary. John B. Jessup was president of Equitable Security and Sydney D. Peverley was president of the Odessa bank. Offices of Equitable Security were located at Ninth and Market Streets, Sixth and Market Streets, and Second and Union Streets in Wilmington, and in the Wilmington Merchandise Mart and Newark Shopping Center, and Dover. The Equitable Trust Company was formed in November 1952 through a merger of the Security Trust Company. Equitable Security merged with the First National Bank of Dover in March 1954.[16] 

The Equitable Security Trust Company office at Odessa opened to visitors on Sunday, October 14, 1956, in conjunction with Odessa Day when historic homes and building were opened. When Odessa was known as Cantwell's Bridge, the bank then known as the New Castle County Bank opened on April 26, 1854, in a room rented over the store of Crouch L. Davis, now occupied by Harrison V. Davis. The present three-story bank building was completed in 1855. It was constructed on land then owned by John Ginn from whom the building committee was authorized to purchase it at a cost not to exceed $850. A feature of the bank building was the heavy old iron grilled door used at one time to lock the cashier's bedroom on the second floor directly above the vault. The slate slabs used in construction of the old vault were three inches thick and were ow used for the floor of the entrance on the east side of the building. On display visitors found a collection of currency and coins of the United States and a collection of antique items used by the Odessa bank.[17]

On Thursday, February 7, 1957, Howard B. Crothers, 50, died in West Palm Beach, Florida where he and his wife, Henrietta Crothers, were vacationing. He had a heart condition for several years. Mr. Crothers was owner and operator of the Crothers Brothers Company, a grain, feed, and fertilizer business in Mt. Pleasant. A vice president of the New Castle County National Bank of Odessa for many years, Mr. Crothers became a member of advisory board of the bank when it merged with Equitable Security Trust Company last year. He was vice president of the Cantwell Mutual Fire Insurance Company, a past president of the Middletown Rotary Club, and a member and past president of the school board of Middletown High School. A native of Philadelphia, Mr. Crothers went to the Middletown area when he was 12 years old.[18]

On Monday, July 17, 1972, James T. Shallcross, 92, of Odessa, died at home after a long illness. Mr. Shallcross was a lifelong resident of the Odessa area. He had been a farmer, a real estate broker, a charter member of the Middletown Rotary Club, a director and vice president of old New Castle County National Bank, which became the Bank of Delaware; past president of the Odessa Building and Loan Association; a tax collector for the state of Delaware; a member of the state Agricultural Committee; a government appraiser along the Chesapeake and Delaware Canal; a former chairman of the St. Georges Hundred Democratic Party; and the last survivor of the voters registered in St. Georges Hundred in 1900.[19]

Official Bank Title

1: The New Castle County National Bank of Odessa, DE

Bank Note Types Issued

Original Series $1 bank note
Original Series $1 bank note with pen signatures of J.L. Gibson, Cashier and Charles Tatman, President. Courtesy of Heritage Auctions, www.ha.com
Series of 1875 $10 bank note
Series of 1875 $10 bank note with pen signatures of J.L. Gibson, Cashier and Charles Tatman, President. Courtesy of the NBNCensus.com
1902 Red Seal $5 bank note
1902 Red Seal $5 bank note with a Radar SN and pen signatures of J.L. Gibson, Cashier and John C. Corbit, President. Courtesy of Heritage Auctions, www.ha.com
1902 Plain Back $20 bank note
1902 Plain Back $20 bank note with stamped signatures of Joseph G. Brown, Cashier and D.W. Corbit, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $20 bank note
1929 Type 1 $20 bank note with printed signatures of Joseph G. Brown, Cashier and Daniel Corbit, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1929 Type 1 $10 bank note
1929 Type 1 $10 bank note with a Radar SN and printed signatures of Frank Davis, Cashier and Daniel Corbit, President. Courtesy of Heritage Auctions, www.ha.com

A total of $2,306,740 in National Bank Notes was issued by this bank between 1865 and 1935. This consisted of a total of 295,097 notes (255,580 large size and 39,517 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 - 4360
Original Series 4x5 1 - 2950
Original Series 3x10-20 1 - 1100
Series 1875 3x1-2 1 - 800
Series 1875 4x5 1 - 1960
Series 1875 3x10-20 1 - 1644
1882 Brown Back 4x5 1 - 2723
1882 Brown Back 3x10-20 1 - 7966
1902 Red Seal 4x5 1 - 2550
1902 Red Seal 3x10-20 1 - 1800
1902 Date Back 4x5 1 - 6400
1902 DB/PB 4x5 6401 - 6750 Type uncertain
1902 Plain Back 4x5 6751 - 21971
1902 Date Back 3x10-20 1 - 4600
1902 Plain Back 3x10-20 4601 - 14071
1929 Type 1 6x5 1 - 3032
1929 Type 1 6x10 1 - 1630
1929 Type 1 6x20 1 - 440
1929 Type 2 5 1 - 5540
1929 Type 2 10 1 - 2775
1929 Type 2 20 1 - 590

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1935):

Presidents:

Cashiers:

Other Known Bank Note Signers

Bank Note History Links

Sources

  • Odessa, DE, 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
  1. ↑ Smyrna Times, Smyrna, DE, Wed., May 24, 1854.
  2. ↑ Delaware Gazette and State Journal, Wilmington, DE, Fri., Aug. 17, 1849.
  3. ↑ Smyrna Times, Smyrna, DE, Wed., Mar. 10, 1869.
  4. ↑ Delaware Tribune, and the Delaware State Journal, Wilmington, DE, Thu., Jan. 13, 1870.
  5. ↑ Middletown Transcript, Middletown, DE, Sat., Jan. 18, 1902.
  6. ↑ Middletown Transcript, Middletown, DE, Sat., Jan. 20, 1906.
  7. ↑ Smyrna Times, Smyrna, DE, Wed., Jan. 9, 1918.
  8. ↑ The Morning News, Wilmington, DE, Thu., Jan. 2, 1919.
  9. ↑ The News Journal, Wilmington, DE, Thu., Jan. 12, 1922.
  10. ↑ The News Journal, Wilmington, DE, Thu., Sep. 21, 1922.
  11. ↑ The News Journal, Wilmington, DE, Fri. Jan. 12, 1923.
  12. ↑ The Evening Journal, Wilmington, DE, Mon., Feb. 19, 1923.
  13. ↑ The Morning News, Wilmington, DE, Tue., Sep. 4, 1923.
  14. ↑ The Evening Journal, Wilmington, DE, Thu., Jan. 10, 1924.
  15. ↑ The Evening Journal, Wilmington, DE, Fri., Jan. 16, 1925.
  16. ↑ The News Journal, Wilmington, DE, Thu., Oct. 20, 1955.
  17. ↑ The News Journal, Wilmington, DE, Mon., Oct. 8, 1956.
  18. ↑ The News Journal, Wilmington, DE, Fri., Feb. 8, 1957.
  19. ↑ The Morning News, Wilmington, DE, Tue., July 18, 1972.
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