Old State National Bank, Evansville, IN (Charter 7478)
Old State National Bank, Evansville, IN (Chartered 1904 - Liquidated 1923)
Town History
Evansville is a city in Vanderburgh County, Indiana, and its county seat. With a population of 118,414 at the 2020 census, it is Indiana's 3rd-most populous city after Indianapolis and Fort Wayne, the most populous city in Southern Indiana, and the 249th-most populous city in the United States. It is the central city of the Evansville metropolitan area, a hub of commercial, medical, and cultural activity of southwestern Indiana and the Illinois–Indiana–Kentucky tri-state area, which is home to over 911,000 people. The 38th parallel north crosses the north side of the city and is marked on Interstate 69 immediately north of its junction with Indiana 62 within the city's east side.
Situated on an oxbow in the Ohio River, the city is often referred to as the "Crescent Valley" or "River City". Early French explorers named it La Belle Rivière ("The Beautiful River"). The area has been inhabited by various indigenous cultures for millennia, dating back at least 10,000 years. Angel Mounds was a permanent settlement of the Mississippian culture from AD 1000 to around 1400. The city of Evansville was founded in 1812.
Evansville had 13 National Banks chartered during the Bank Note Era, and all 13 of those banks issued National Bank Notes.
Bank History
- Organized November 10, 1904
- Chartered November 17, 1904
- Opened for business December 23, 1904
- Succeeded 3281 (Old National Bank, Evansville, IN)
- Liquidated September 29, 1923
- Succeeded by 12444 (Old National Bank, Evansville, IN)
- Circulation assumed by 12444 (Old National Bank, Evansville, IN)
The origin of the Old State National Bank of Evansville was in 1834 when the State Bank of Indiana was organized. Evansville at that time was a village with a population of 1,000, but nevertheless it was one of the ten points in which branches of the State Bank were organized. The aggregate capital of the State Bank of Indiana was $1,600,000, divided equally among the ten branches. The first directors' meeting was held November 11, 1834, and John Mitchell was elected president and John Douglas, cashier. These officers continued serving until the death of Mr. Mitchell when Mr. Samuel Orr, grandfather of Samuel L. Orr, a director of the Old State National Bank, became president. The paid in capital stock held by the state and individuals was $80,000.
In 1835-36 the Indiana Legislature passed the internal improvement bill and Evansville was made the southern terminus of the Central and Wabash and Erie canals. This was Evansville's first boom and as a result, in December 1836, the lot on which the former historic home of this bank stands today was purchased. Just before the building was completed the capital stock was increased by $20,000, making the total capitalization $100,000.A short time afterwards it was further increased by $40,000. The original safe, purchased in 1834 from Hall & Dodds of Cincinnati, was used by the bank for storing valuables of secondary importance until it was moved into the new building. The weight of its three keys was 1 1/2 pounds and a collection of all keys then in used weighed about as much as an ordinary tool box. The bank was also a factor in the financing of the Mexican War. In June 1846, it made a loan to the State of Indiana for clothing and equipping volunteers for that war.
The State Bank continued to operate successfully until its charter expired in 1855. Its Evansville branch became the Branch Bank of the State of Indiana, commencing business May 23, 1856 with a paid-in capital of $100,000. In 1864 the Bank of the State of Indiana was compelled to liquidate because of the 10% tax imposed on its circulation. The stockholders of the Evansville Branch then organized the Evansville National Bank (Charter 730) and took over the business of the Branch Bank. In April 1866, the banking home of the State Bank was purchased at auction by the Evansville National Bank.
In 1872 Mr. Henry Reis became connected with the Evansville National Bank as teller, having previously been with the Lowry Bank. Mr. Reis remained with the bank during its succeeding changes rising step by step to the position of president in 1908.
In 1885 the charter of the Evansville National Bank expired and that bank was succeeded by the Old National Bank (Charter 3281). Twenty years later its charter expired and the Old State National Bank (Charter 7478) succeeded it. The capital stock of the Old State National was $500,000 when it received its charter in 1904.
The new Old State National Bank building, together with the site and equipment, cost in round figures $500,000. Its architecture represents American ideas, based on precedents of Imperial Rome. It was designed by the architectural firm of Adolf Scherrer of Indianapolis. The building had a very interesting and attractive front of polished red granite. This material was selected because it implied unusual strength due to its imposing massiveness. The structure was eight stories high and four immense columns of the Corinthian order extended from the second to the sixth floors on the front facade. Although only opened for eight months, the building was 100% under lease. In its list of tenants was a restaurant, carpet and drapery store, and shops and stores of every nature. The entire eighth floor was occupied by the Chamber of Commerce.
Entering the bank one passed through a vestibule executed in marble, the floor being a combination of marble and mosaic. On the left one passed a door permitting private egress from the president's room. Passing through the second set of double-acting bronze doors into the main lobby, one passed the officers' platform on the left equipped for six officers and one stenographer, and then nine tellers' wickets. At the end of the lobby was the massive grille through which the imposing facade of the strong vaults was displayed. Passing along on the opposite side, one found the safe deposit department window, the saving and thrift club windows, the men's room, the ladies' room, and then the entrance from the public elevator lobby.
The banking room was flooded with an abundance of mellow natural light coming through the ten large rectangular windows on the western side. The artificial light was provided by fourteen large Travertine indirect diffusers, each having four 100-watt electric lamps. Various smaller diffusers were scattered over the mezzanine floor and in the various private rooms. The interior of the banking room was designed and executed by Weary and Alford Co., architects of Chicago who were specialists in this type of work. The bank occupied the entire first floor and mezzanine and part of the basement, some 15,000 square feet in all. The interior of the banking room was of Travertine stone and Tavarnelle Claire marble. The officers' and directors' rooms, the officers' quarters and the public rooms were furnished exquisitely and in a modern and convenient manner. All woodwork and furniture in the banking room was of frontiera (brown) mahogany except in the ladies' room where it was of prima vera (yellow) mahogany and furnished with Reedcraft wicker furniture. That part of the building above the bank floor was finished in solid Tabasco (red) mahogany.
Between the spanning beams of Travertine stone, the ceiling was modeled in plaster and the beam facings and relief moulding were pleasingly decorated in hand-painted gold leaf and oriental designs. All wicket work and the number and name plates designating the departments and the employees were of bronze and heavily gold-plated. The floor of the banking room was of Grueby and Mueller mosaic and marble. The mosaic had a brown cast and harmonized perfectly with the bronze, gold and frontiera mahogany. It was set in insert panels to convey the idea of large rugs.
The series of vaults were constructed on the unit plan, the cash, safe deposit and book vaults were on the bank floor and the trunk storage in the basement. The cash vault was equipped with a thirty-ton circular door, 23 inches thick, and the safe deposit vault with an 18-ton rectangular door. The vaults were further protected by an A.D.T. burglar alarm system. The grille door leading to the vault vestibule operated electrically by pushing a button from the safe deposit office.
One of the most noticeable features in the bank's service was the unit system in the tellers' department. This was used in a number of the greater banks in the West and was considered a marked advance over the old system by expediting he work because the customer delt with only one teller who handled by paying and receiving accounts. Nearly all of the money was kept under lock and key in compartments and safe-omnibuses provided in the enclosures. The omission of the cage and barred effect over the tellers' enclosures added warmth to the atmosphere of the bank because the customer was made to feel that he was not looked upon with distrust or suspicion by the bank.
If you were ever in Evansville and wanted to feel at home for a time, just step into the fine banking room of the Old State National. Mr. Henry Reis, the president, would probably be the first man to shake hands with you. Mr. Reis had been in the banking business in Evansville with the Old State National Bank and its predecessors for over 50 years. You would say he was one of the most courteous, resourceful, democratic gentlemen you ever met. At a recent banquet, he was able to describe in minute detail the first checks deposited by prominent pioneers of Evansville. He was representative of the self-made man. Starting with only a rudimentary education and a desire for achievement by hard work, he rose steadily from the position of messenger to the highest in the banking profession. Next to Mr. Reis was Mr. Alexander Gilchrist, vice president, addressed by some of his many friends as Major and by others as Judge. The title of Major was earned through service in the Union Army of the Civil War and the title of Judge on the Superior Court Bench of Vanderburgh County, Indiana. Mr. Frank R. Wilson, vice president, inherited his banking ability from his father with whom he was associated in the Cumberland County National Bank of Neoga, Illinois. The Senior Mr. Wilson was still president of that bank. Mr. Wilson became connected with the Shelby Bank of Shelbyville, Indiana, which he converted into the Shelby National Bank. In May 1911 he became cashier of the Old State National Bank, resigning after three years to become secretary and treasurer of the Hercules group of companies. In January 1916 he again became associated with the bank as vice president. Next to Mr. Wilson was Mr. John O. Davis, vice president and cashier, who undertook the greater part of the construction details of the new building. Mr. Davis was born in Owenton, Kentucky in 1872. He began his banking career in 1890 as messenger in the Farmers National Bank of Owenton where he remained until 1892. He next went to the Peoples National Bank of Washington, Indiana, as manager of the collection department. In 1894, when only 22 years old, he organized the Pike County State Bank of Petersburg, Indiana, and was made its cashier. That bank held the distinction of being the first bank to be converted into a national bank under the Federal act authorizing a national bank with capital stock of $25,000. In 1907 Mr. Davis assisted in the organization of the Bankers National Bank of Evansville and became its cashier, serving until June 1914 when he was elected cashier of the Old State National Bank. In January 1916 he was elected vice president and director in addition to cashier.[7]
On Tuesday, January 11, 1921, the stockholders re-elected the following directors: Henry Reis, Alexander Gilchrist, William H. McCurdy, James T. Walker, M.S. Sonntag, Sidney L. Ichenhauser, Samuel L. Orr, Frank R. Wilson, Henry C. Kleymeyer, G.A. Trimble, Louis A. Daus, John O. Davis, John L. Igleheart and Harry D. Bourland.[8] On Tuesday afternoon, July 19, 1921, Mr. Henry Reis, 74, passed peacefully away at his residence, 225 Mulberry Street. Born in Germany on February 15, 1847, the son of Peter and Elizabeth Reis, he was brought to American in 1849. His parents settled in Posey County, Indiana. Henry's father, a farmer, died in 1856. Thus from the age of nine, Henry Reis had to make his own way in the world. He attended schools until he was 15 years old, then took a position in a drugstore. While working in the daytime, he attended Behm's Commercial College at night, graduating in 1864. For three years he was employed in the drugstore, then entered the bank of W.J. Lowry & Co. in a minor position. He remained with this bank from 1865-1872, moving to the Evansville National Bank. In 1873 he was appointed assistant cashier and in 1875 cashier. In 1902 he was elected vice president and cashier and in 1908 he was called to the presidency. Mr. Reis was a stockholder in the City National Bank and had served as vice president of the Evansville Clearing House Association. He was married in 1869 to Miss Caroline Blass of Erie, Pennsylvania, a member of a German family that had come to American in 1860.[9]
On Tuesday, January 10, 1922, the directors elected were William H. McCurdy, Alexander Gilchrist, M.S. Sonntag, James T. Walker, Sidney L. Ichenhauser, Samuel L. Orr, F.R. Wilson, H.C. Kleymeyer, G.A. Trimble, Louis A. Daus, J.L. Igleheart, and H.D. Bourland.[10] Evansville banks were American Trust & Savings Bank, Citizens National Bank, Citizens National Trust & Savings Bank, City National Bank, Farmers & Citizens Bank, Farmers Trust Co., Lamasco Bank, Mercantile-Commercial Bank, North Side Bank, Old State National Bank, Peoples Savings Bank, and West Side Bank.[11] The bank counted the following persons in its organization that were with the bank 25 years ago: B.H. Enneking, Miss Nellie Lyon, H.J. Reimer, Geo. L. Daum, and Wm. H. Rumpf. Officers of the Old National Bank 25 years ago were Samuel Bayard, president; John Gilbert, vice president; and Henry Reis, cashier. Its directors were Samuel Bayard, Robert K. Dunkerson, Wm. M. Akin, Edward G. Ragon, James L. Orr, John Gilbert, Allen Gray, Henry Reis, and Matthew Dalzell. The population of Evansville was 90,000, and 25 years ago it was 55,000. Bank deposits were $5,900,000 and in 1922 they were $36,500,000. The Old State National Bank now had more deposits than all the banks in Evansville had combined 25 years ago.[12] Among the various new departments were Safe Deposit, Savings, and the Trust Department, which had greatly broadened the facilities of the bank and added to the bank's clientele.[13]
Official Bank Title
1: The Old State National Bank of Evansville, IN
Bank Note Types Issued
A total of $5,308,000 in National Bank Notes was issued by this bank between 1904 and 1923. This consisted of a total of 648,272 notes (648,272 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 1902 Red Seal 4x5 1 - 10500 1902 Red Seal 3x10-20 1 - 15250 1902 Date Back 4x5 1 - 38250 1902 Date Back 3x10-20 1 - 28500 1902 Plain Back 4x5 38251 - 82680 1902 Plain Back 3x10-20 28501 - 53638
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1904 - 1923):
Presidents:
Cashiers:
- Henry Reis, 1905-1907
- Harry Harpending Ogden, 1908-1910
- Frank R. Wilson, 1911-1913
- John O. Davis, 1914-1923
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Evansville, IN, 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
- Historic Evansville: Old State National Bank. Photos of the Old State National Bank.
- ↑ Evansville Courier and Press, Evansville, IN, Sat., Dec. 23, 1916.
- ↑ The Bankers' Magazine, Vol 94, Jan. - June 1917, p. 724.
- ↑ Evansville Press, Evansville, IN, Tue., July 25, 1916.
- ↑ The Bankers' Magazine, Vol 94, Jan. - June 1917, p. 724.
- ↑ The Bankers' Magazine, Vol 94, Jan. - June 1917, pp 728-31.
- ↑ The Bankers' Magazine, Vol 94, Jan. - June 1917, p. 732.
- ↑ The Bankers' Magazine, Vol 94, Jan. - June 1917, pp 724-34.
- ↑ Evansville Press, Evansville, IN, Wed., Jan. 12, 1921.
- ↑ Evansville Press, Evansville, IN, Wed., July 20, 1921.
- ↑ Evansville Courier and Press, Evansville, IN, Wed., Jan. 11, 1922.
- ↑ The Evansville Journal, Evansville, IN, Wed., Jan. 18, 1922.
- ↑ Evansville Press, Evansville, IN, Sat., Jan. 28, 1922.
- ↑ Evansville Press, Evansville, IN, Sat., Feb. 11, 1922.