Peoples National Bank, Lancaster, PA (Charter 3650)
Peoples National Bank, Lancaster, PA (Chartered 1887 - Liquidated 1925)
Town History
Lancaster is a city in and the county seat of Lancaster County, Pennsylvania, and one of the oldest inland cities in the United States. With a population at the 2020 census of 58,039, it ranks 11th in population among Pennsylvania's municipalities. The Lancaster metropolitan area population is 552,984, making it the 104th-largest metropolitan area in the U.S. and second-largest in the South Central Pennsylvania area. In 1860, the population was 17,603 growing to 59,949 by 1930.
The city's primary industries include healthcare, tourism, public administration, manufacturing, and both professional and semi-professional services. Lancaster is a hub of Pennsylvania's Dutch Country.
Lancaster is located 59 miles southwest of Allentown and 61 miles west of Philadelphia. It is a transportation hub with many major roadways passing through or around the city, including US 30, US 222, PA 283, PA 72, and PA 272.
Lancaster was the capital of Pennsylvania from 1799 to 1812, with the state capital located at the Court House (built 1784 and demolished 1852 and now site of Soldiers & Sailors Monument at Penn Square). In 1812, the capital was moved to Harrisburg, where it has remained since. After the American Revolutionary War, Lancaster became an iron-foundry center. Two of the most common products needed by pioneers to settle the Frontier were manufactured in Lancaster: the Conestoga wagon and the Pennsylvania long rifle. The Conestoga wagon was named after the Conestoga River, which runs through the city. The innovative gunsmith William Henry lived in Lancaster and was a U.S. Congressman and leader during and after the American Revolution. The city of Lancaster was home to several important figures in American history. Wheatland, the estate of James Buchanan, the fifteenth President of the United States, is one of Lancaster's most popular attractions.
Lancaster had seven National Banks chartered during the Bank Note Era, and all seven of those banks issued National Bank Notes.
Bank History
- Organized January 28, 1887
- Chartered March 16, 1887
- Liquidated February 28, 1925
- Absorbed by Peoples Trust Company of Lancaster
At 10 o-clock the morning of January 22, 1887, a meeting of the subscribers to the stock of another national bank for Lancaster to be located on East King Street, was held in the Orphans' Court room. Mr. D.G. Eshleman acted as chairman and A.H. Fritchey, Esq., was chosen secretary. Mr. Eshleman advocated a distribution of the directors so as to have a sufficient number resident in the city as advisers to the cashier in any case of emergency, and the remainder located in the country to create a self-interest throughout the county for the success of the institution. For a name, J.L. Steinmetz, Esq., moved that the new bank be called "The Peoples National Bank of Lancaster," and the motion was carried with a single dissenting voice. It was afterwards made unanimous. The capital was set at $200,000. Nomination of directors was made and an election held. The following directors were elected: R.A. Evans, city; D.G. Eshleman, city; Samuel H. Reynolds, city; John Gengrich, East Hempfield; Joel L. Lightner, East Lampeter; S. Millo Herr, West Lampeter; Isaac W. Leidigh, city; A.C. Ilyus, Manheim; Dr. A.J. Herr, city; Chas. F. Miller, city; E.H. Burkholder, West Earl; Henry G. Rush, Pequea; H.W. Hartman, city; A.J. Eberly, city. On January 27 at 10 o'clock, the newly elected board met at the Leopard Hotel. A permanent organization was effected by the election of S.H. Reynolds, Esq., president; R.A. Evans, vice president; and H.W. Hartman, secretary. Various committees were established for the selection of a cashier, for temporary quarters, for securing a safe, etc. The bank planned to open in the Woman's Exchange of East King Street, near Lime, where there was already an excellent vault formerly used by the Internal Revenue Office under Collector Thos. Wiley.
On Monday, February 21, 1887, the directors met in the law library room of the court house to elect officers. P. Eckert Slaymaker was chosen cashier, DuBois Rohrer, teller, W.S. Martin, clerk and John M. Fagan, messenger. Mr. Slaymaker was well and most favorably known in Lancaster, having been for years a clerk and deputy in the prothonotary's office and for the previous few years, a clerk in the Farmer's National Bank. Mr. Rohrer was the chief clerk in D.P. Locher & Sons bank for many years. Mr. Martin was the son of S.S. Martin of the Leopard Hotel. The organization was completed by the election of D.G. Eshleman, Esq., as solicitor and Allan A. Herr as notary public. The other officers were Samuel H. Reynolds, president Robert A. Evans, vice president, and Herbert W. Hartman, secretary. The old Internal Revenue Office would be used temporarily; it was expected that the new bank would be ready by the middle of March.
After looking for a suitable property to build, the bank purchased the Killinger property and construction of the new bank began in May. The design was by Mr. P.A. Welsh, architect of No. 429 Walnut Street, Philadelphia, a gentleman who was known not to duplicate his designs. He also designed the remodeling of the Duke Street mansion of J.L. Steinmetz underway in early 1888. The dimensions of the building were 32 feet in front with a depth of 148 feet and the front was of brownstone from the Hummelstown Brown Stone Company's quarries, granite from the celebrated Bodwell quarries and columns of polished granite imported from Scotland. The roof was peaked and laid in colored slate. The entrance was through a deep vestibule of highly polished cherry and above the arched door was the inscription cut from solid stone, "The Peoples National Bank," with the bank monogram above. The ceiling of the main room was 33 feet in height with a skylight extending over the central part of the room. All the woodwork and furniture of the entire bank was of highly polished cherry. The framework above the counters had crystalline French plate glass, the lower part of each pane frosted in a beautiful manner. F. Baraldi of Philadelphia worked the tiling and frescoing up to the lofty ceiling. A spherical Corliss safe weighing 12,000 pounds provided absolute protection against burglars as well as fire, steam and smoke.
In April 1896, the officers of the Peoples Trust, Saving and Deposit Company, located in the Peoples National Bank building at 113-115 East King Street, had the following officers: Jacob L. Steinmetz, president; Isaac W. Leidigh, vice president; P.E. Slaymaker, secretary and treasurer; William Slaymaker, trust officer; and Adam J. Eberly, solicitor. The directors were J.L. Steinmetz, I.W. Leidigh, Michael Reilly, H.S. Williamson, A.J. Eberly, R.A. Malone, A. Bowman, A.J. Herr, M.D., and Hon. D. McMullen.
On Tuesday, January 9, 1900, the stockholders elected the following directors: P.E. Slaymaker, Isaac W. Leidigh, Adam J. Eberley, Dr. Ambrose J. Herr, Charles F. Miller, George McNabb, A.C. Ilyus, E.H. Burkholder, C. Musselman, Henry G. Rush, S. Millo Herr, E. Herr Esbenshade, Andrew H. Hershey, Samuel H. Reynolds, William D. Weaver. Wed., Jan. 10, 1900.
On February 15, 1904, J.L. Steinmetz died at the Hotel Calico, Ephrata where he resided. Jacob L. Steinmetz was born at South Annville, Lebanon County, in August 1845. He was educated at the Annville Academy, Dickinson Seminary of Williamsport and the law department of the University of Michigan. He was admitted to the Lancaster bar in 1870. In 1876 he was sent as a delegate to the Democratic National convention at St. Louis, at which Mr. Tilden was nominated for the presidency. The same year he was elected to the legislature from the Lancaster City district and served one term. He became president of the Peoples National Bank in 1890, succeeding the late Samuel H. Reynolds and was instrumental in organizing the Peoples' Trust Company of which he was afterward president. He was president of both institutions until 1897. He was one of the organizers of the Citizens' Electric Light, Heat and Power Company, which was absorbed by the Edison Company. He was the proprietor of the Hotel Calico from 1896 until his death.
On Tuesday, January 13, 1925, at the annual meeting of stockholders held at the banking house, No. 113-15 East King Street. for Peoples National were P.E. Slaymaker, Charles F. Miller, Henry G. Rush, Andrew H. Hershey, Samuel H. Reynolds, John F. Brimmer, W.E. Fraim, Benjamin M. Mowery, William W. Keefer, Milton E. Gingrich, and Frank B. McClain.
On January 13, 1925, the directors elected for the Peoples Trust Company were P.E. Slaymaker, Charles F. Miller, Samuel H. Reynolds, John W. Eshelman, John A. Coyle, M.G. Weaver, J. Chester Jackson, Milton H. Ranck, and Samuel C. Slaymaker.
On February 28, 1925, the Peoples Trust Company and the Peoples National Bank closed their separate existences at noon. The institution of the Peoples Trust Company would continue; its officers were P.E. Slaymaker, president; Charles F. Miller, vice president and J. Chester Jackson, treasurer. The staff of the national bank would be absorbed by the Trust Company. The interior of the East King Street trust company would undergo considerable remodeling necessitated by the expansion of business. The trust company had assets in the banking department of $6,545,000 and trust department of $2,580,000. The consolidation of the Peoples National Bank with the Peoples Trust Company would leave only three national banks in Lancaster City, but would bring the total of banking institutions with resources in excess of $5 million to four, with two others above the $4 million mark and two more well over $3,500,000. In the county boroughs, no less than 17 had resources in excess of $1 million and three of these were above the $2 million mark.
Official Bank Title(s)
1: The Peoples National Bank of Lancaster, PA
Bank Note Types Issued
A total of $1,162,900 in National Bank Notes was issued by this bank between 1887 and 1925. This consisted of a total of 44,020 notes (44,020 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 1882 Brown Back 4x5 1 - 5050 1882 Brown Back 3x10-20 1 - 2640 Plate approved April 12, 1887; $10s have the abnormal border variety 1882 Brown Back 50-100 1 - 1806 1902 Red Seal 50-100 1 - 740 1902 Date Back 50-100 1 - 1500 1902 Date Back 3x50-100 1 - 1292
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1887 - 1925):
Presidents:
- Samuel H. Reynolds, 1887-1889
- Jacob Lieber Steinmetz, 1890-1896
- Peter J. Eckert Slaymaker, 1897-1924
Cashiers:
Other Bank Note Signers
- Herbert Weidler Hartman, Vice President 1889
- There are currently no known Assistant Cashier bank note signers for this bank.
Wiki Links
- Pennsylvania Bank Note History
- General information on Lancaster (Wikipedia)
- General information on Lancaster County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Lancaster, PA, Wikipedia, https://en.wikipedia.org/wiki/Lancaster,_Pennsylvania
- 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
- Lancaster New Era, Lancaster, PA, Sat., Jan. 22, 1887.
- Lancaster New Era, Lancaster, PA, Thu., Jan. 27, 1887.
- Lancaster Intelligencer, Lancaster, PA, Wed., Feb. 23, 1887.
- Lancaster New Era, Lancaster, PA, Sat., Feb. 11, 1888.
- The Semi-Weekly New Era., Lancaster, PA, Wed., Apr. 8, 1896.
- The Semi-Weekly New Era., Lancaster, PA, Wed., Jan. 10, 1900.
- The News-Journal, Lancaster, PA, Tue., Feb. 16, 1904.
- Lancaster New Era, Lancaster, PA, Mon., Jan. 12, 1925.
- Lancaster New Era, Lancaster, PA, Tue., Jan. 13, 1925.
- Lancaster New Era, Lancaster, PA, Mon., Mar. 2, 1925.