Peoples NB of Roxbury/Peoples NB of Roxbury at Boston, Boston, MA (Charter 595)

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The Peoples Bank of Roxbury obsolete $5, Haxby MA-1065. Beneath the title, a wide vignette shows a sidewheel steamer with factories along the riverbank in the background; a stamped blue "O" is very faint at the right edge of the vignette. Clay is at lower left and Washington is at lower right.
The Peoples Bank of Roxbury obsolete $5, Haxby MA-1065. Beneath the title, a wide vignette shows a sidewheel steamer with factories along the riverbank in the background; a stamped blue "O" is very faint at the right edge of the vignette. Clay is at lower left and Washington is at lower right. Courtesy of Heritage Auctions, www.ha.com

Peoples NB of Roxbury/Peoples NB of Roxbury at Boston, Boston, MA (Chartered 1864 - Liquidated 1922)

Town History

Roxbury is a neighborhood within the City of Boston, Massachusetts.

Roxbury is a dissolved municipality and one of 23 official neighborhoods of Boston used by the city for neighborhood services coordination. The city states that Roxbury serves as the "heart of Black culture in Boston." Roxbury was one of the first towns founded in the Massachusetts Bay Colony in 1630, and became a city in 1846 before being annexed to Boston on January 5, 1868. The original boundaries of the Town of Roxbury can be found in Drake's History of Roxbury and its noted Personages. Those boundaries include the modern day Longwood, Mission Hill, and Symphony neighborhoods, including the Christian Science Center, the Prudential Center (built on the old Roxbury Railroad Yards), and everything south and east of the Muddy River, including Symphony Hall, Northeastern University, Boston Latin School, Madison Park Technical Vocational High School, John D. O'Bryant School of Mathematics & Science, Roxbury Community College, YMCA, Harvard Medical School, and many hospitals and schools in the area. This side of the Muddy River is Roxbury, the other side is Brookline and Boston. Franklin Park, once entirely within Roxbury when Jamaica Plain, West Roxbury and Roslindale were villages within the town of Roxbury until 1854, has been divided with the line between Jamaica Plain and Roxbury located in the vicinity of Peter Parley Road on Walnut Avenue, through the park to Columbia Road. Here, Walnut Avenue changes its name to Sigourney Street, indicating the area is now Jamaica Plain. One side of Columbia Road is Roxbury, the other Dorchester. Melnea Cass Boulevard is located approximately over the Roxbury Canal that brought boats into Roxbury, bypassing the busy port of Boston in the 1830s.

When it was a separate municipality, Roxbury was in Suffolk County until it was added to the newly created Norfolk County in 1793; when it was incorporated into Boston, it returned to Suffolk County. In 1860 the population of Roxbury was 25,137.

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

Bank History

In January 1833, the Massachusetts Legislature committee on banks was petitioned by Samuel Guild and others for a Bank in Roxbury.

In March 1836, the joint committee of the Massachusetts Legislature appointed for the purpose of investigating the concerns of certain banks in the state made a report recommending measures to be adopted for taking away the charters of the State, New England, and City Banks of Boston and the People's Bank in Roxbury. In April the legislature by a voted by a majority of 49 to take away the charters of the State Bank of Boston and the People's Bank of Roxbury for their usurious practices in violating the law regulating interest and exchange. On April 16, 1836, the Governor approved legislation, including Section No. V., an act to repeal "An Act to establish the People's Bank." The act to establish the People's Bank, passed on the 25th day of March, 1833, was repealed to take effect on April 1st, 1837. The State Bank of Boston also had its charter slated for revocation for the same reason.

In December 1846, official votes for State Senators were declared by the Governor and Council. For Norfolk County, Samuel Guild, James Maguire, and Truman Clark were the winners.

In October 1861, the following were the officers chosen at the annual meeting of the Peoples Bank, Roxbury: A.D. Williams, J.W. Tucker, B.F. Campbell, James Guild, George Lewis, J.T. Ellis, Nelson Curtis, and Henry Guild, directors. Samuel Guild who held the office of president 25 years declined a re-election and James Guild was chosen his successor.

On Tuesday, January 12, 1869, stockholders elected the following directors: W.S. Leland, Henry Guild, George Lewis, Nelson Curtis, B.F. Campbell, Ivory Harmon, Moses H. Day, J.W. Tucker, and James Guild. At a subsequent meeting of the directors, Mr. Henry Guild was re-elected president.

In January 1873, the officers elected were president, Henry Guild; directors, Henry Guild, Nelson Curtis, Ivory Harmon, Joseph W. Tucker, George Lewis, B.F. Campbell, Moses H. Day, and James Guild. The banking rooms were located on the corner of Guild Row and Dudley Street.

In January 1879, the directors were Henry Guild, George Lewis, Nelson Curtis, Ivory Harmon, Moses H. Day, J.W. Tucker, James Guild, and S.P. Hopkins.

On April 8, 1919, David E. Hersee, formerly assistant cashier of the Peoples National Bank of Roxbury, recently returned from naval service abroad, was appointed cashier of that institution. George H. Corey retained the vice presidency.

On Tuesday, January 11, 1921, at the annual meeting of stockholders, the following directors were re-elected: James G. Knowles, Frank R. Briggs, Eugene H. Clapp, George H. Corey, Alfred T. Foster, Lee M. Friedman, Fred L. Morgan, Hugh Nawn, and W.F. Newbert. Eugene H. Clapp who resigned last year was succeeded by James G. Knowles.

Effective at the close of business, August 31, 1922, the Fourth-Atlantic National Bank at 53 State Street and the Peoples National Bank, Roxbury, by unanimous vote of the directors of the two institutions, consolidated. The Peoples Bank would be run as an office of the Fourth-Atlantic at its present location in Roxbury. The total assets of the Fourth Atlantic as of June 30 were $34,595,000 and on the same date the Peoples National had $9,615,000. Deposits of the two institutions totaled $33,332,489, including $24,388,530 for Fourth-Atlantic and $8,943,949 for Peoples National . The capital of the larger bank was $2,000,00 and its surplus and undivided profits $3,155,364. The Peoples National had $300,000 capital and surplus and undivided profits of $318,793 which with reserves gave a book value of $225 per share. The Fourth-Atlantic paid $225 per share for the 3,000 shares outstanding. Mr. Foster, president of the Peoples National would relinquish actual official responsibility as was his desire. He would retain his office at the bank and interest in its affairs. George H. Corey, vice president, would become a vice president of the Fourth-Atlantic and others of the staff and board would continue in its service. Stockholders of the Peoples National would vote at a special meeting called for October 2d. The capital, surplus and undivided profits of the Fourth Atlantic National Bank were over $5 million, and its resources after the consolidation exceeded $40 million.

Official Bank Title(s)

1: The Peoples National Bank of Roxbury, MA

2: The Peoples National Bank of Roxbury, Boston, MA [11/20/1884]

3: The Peoples National Bank of Roxbury at Boston, MA (11/19/1904)

4: 4th title not used on notes: The Peoples National Bank of Boston, MA (1/24/1921)

Bank Note Types Issued

Series of 1875 $10 bank note with pen signatures of George C. Leach, Cashier and Henry Guild, President.
Series of 1875 $10 bank note with pen signatures of George C. Leach, Cashier and Henry Guild, President. Courtesy of Heritage Auctions, www.ha.com
1882 Brown Back $5 bank note with pen signatures of A.P. Richardson, Cashier and George C. Leach, President.
1882 Brown Back $5 bank note with pen signatures of A.P. Richardson, Cashier and George C. Leach, President. Courtesy of Heritage Auctions, www.ha.com
1902 Red Seal $5 bank note with pen signatures of Herbert A. Rhoades, Cashier and S.B. Hopkins, President
1902 Red Seal $5 bank note with pen signatures of Herbert A. Rhoades, Cashier and S.B. Hopkins, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1902 Date Back $5 bank note with printed signatures of D.E. Hersee, Cashier and A.J. Foster, President.
1902 Date Back $5 bank note with printed signatures of D.E. Hersee, Cashier and A.J. Foster, President. Courtesy of Heritage Auctions, www.ha.com

A total of $3,500,820 in National Bank Notes was issued by this bank between 1864 and 1922. This consisted of a total of 445,110 notes (445,110 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
1: Original Series 3x1-2 1 - 1595
1: Original Series 4x5 1 - 5650
1: Original Series 3x10-20 1 - 3900
1: Original Series 50-100 1 - 1886
1: Original Series 500 1 - 50
1: Series 1875 3x1-2 1 - 10499
1: Series 1875 4x5 1 - 6524
1: Series 1875 3x10-20 1 - 2991 Long s
1: Series 1875 50-100 1 - 776 Long s
2: 1882 Brown Back 4x5 1 - 21500
2: 1882 Brown Back 3x10-20 1 - 12548
2: 1882 Brown Back 50-100 1 - 200 Long s
3: 1902 Red Seal 4x5 1 - 11000
3: 1902 Red Seal 4x10 1 - 2375
3: 1902 Red Seal 3x10-20 1 - 5700
3: 1902 Date Back 4x5 1 - 15543
3: 1902 Date Back 4x10 1 - 9869
3: 1902 Date Back 3x50-100 1 - 140

For more information about the long 's', see: Huntoon, Peter, "The Long 's' in National Bank Title Blocks," The Encyclopedia of U. S. National Bank Notes.

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1864 - 1922):

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

  • Roxbury, MA, 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
  • Boston Post, Boston, MA, Thu., Jan. 17, 1833.
  • Vermont Gazette, Bennington, VT, Tue., Mar. 22, 1836.
  • Vermont Gazette, Bennington, VT, Tue., Apr. 19, 1836.
  • Boston Post, Boston, MA, Sat., Apr. 23, 1836.
  • The Recorder, Greenfield, MA, Tue., Dec. 29, 1846.
  • Boston Evening Transcript, Boston, MA, Mon., Oct. 14, 1861.
  • Boston Evening Transcript, Boston, MA, Wed., Jan. 13, 1869.
  • The Boston Globe, Boston, MA, Thu., Jan. 16, 1873.
  • Boston Post, Boston, MA, Wed., Jan. 15, 1879.
  • Boston Post, Boston, MA, Wed., Apr. 9, 1919.
  • The Boston Globe, Boston, MA, Wed., Jan. 12, 1921.
  • The Boston Globe, Boston, MA, Thu., Aug. 31, 1922.
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