Peoples National Bank, Rochester, PA (Charter 7749)
Peoples National Bank, Rochester, PA (Chartered 1905 - Liquidated 1935)
Town History
Rochester is a borough in central Beaver County, Pennsylvania, at the confluence of the Beaver and Ohio rivers. Located 25 miles northwest of Pittsburgh, it is part of the Pittsburgh metropolitan area. Like many places around Pittsburgh, Rochester was a former industrial hub, home to the H.C. Fry Glass Company, and was a major junction on the Pennsylvania Railroad.
The area was settled in 1799 in what was then the American frontier and was known as East Bridgewater, Fairport, and Beaver Point. The borough adopted the name Rochester in 1834 when a local businessman who did regular business in Pittsburgh decided to christen his home with the name Rochester so he could have a unique name to stamp his goods. The borough was officially incorporated as such in 1849.
Rochester is where Henry Clay Fry and his associates formed a glass manufacturing company following Fry's return from the American Civil War. In 1897 the Rochester Tumbler Company (as the company was known) became the National Glass Company of Rochester. The company helped to introduce pressed glass production to America, pressing the glass into a mold where previously the technique of cut glass had been to blow it by hand. At its height, the National Glass Company of Rochester employed over a 1000 people, but its bankruptcy during the Great Depression began a long decline in the town's population. The population was 3,480 at the 2020 census. The population in 1900 was 4,688, peaking in 1930 at 7,726.
Rochester had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes.
Bank History
- Organized April 27, 1905
- Chartered May 19, 1905
- Opened for business June 1, 1905
- Liquidated February 18, 1935
- Absorbed by 2977 (First National Bank, Rochester, PA)
On August 15, 1900, thieves broke into the banking house of John Conway & Co. They broke the combination off and drilled a hole in the door of the safe, but were frightened away before getting it open. They took $15 in pennies and small silver from the counter drawer. On December 19, 1900, Charles B. Conway, junior member of the banking firm of John Conway & Co. died at Mt. Clemens, Michigan. He was a member of the Pittsburgh Commandery No. 1, Knights Templar. On January 16, 1901, thieves dynamited the safe and got away with about $300 in silver and small bills. Since the bank was robbed last August, the bulk of the cash had been placed in the vault of the First National Bank for safe keeping over night. This was the fourth time the bank was robbed; the first dated back to April 1889.
In April 1905, the Comptroller of the Currency approved the application of James G. Mitchell, John Conway, Charles B. Broebeck, N. Hurst, and Charles A. Muse to organize the Peoples National Bank of Rochester with $50,000 capital.
On May xx, 1905, the Peoples National Bank was authorized to begin business. John Conway was president; James G. Mitchell, vice president; and Joseph C. Campbell, cashier. The bank succeeded John Conway & Company, private bankers.
On November 20, 1905, John Conway, 75, president of the Peoples National Bank died in Rochester suddenly from neuralgia of the heart. He was born in Economy Township in 1830. His parents came from Ireland in 1824. In 1857 he married Miss Thalia Bentel of Freedom who survived him with one daughter, Mrs. N.S. Hurst of Rochester. Mr. Conway was a 32d degree Mason.
On April 18, 1924, Augustus Heller, 80, president of the Peoples National Bank and retired businessman died in his home at 505 Adams Street. Mr. Heller was born in Germany in 1844 and came to this country in 1850 with his parents, settling in Allegheny where he went into the grocery business in 1867. He later went to Rochester and retired from the grocery business ten years ago. He was a director in the Peoples National Bank since 1905 and has held the office of president for the last 15 years. He was a member of Rochester Post No. 183, G.A.R.
In January 1928, at the annual reorganization meeting of the board of directors, the following officers were elected: President, Dr. Walter M. Yost; vice presidents, Joseph C. Campbell and Charles R. Eckert; cashier, Armin K. Barner; and assistant cashier, G. Harold Fisher.
On December 31, 1934, the First National and the Peoples National Banks of Rochester consolidated. The merger was approved by the state and Federal banking departments. The new bank took the title of First National Bank of Rochester with capital of $150,000, surplus and profits $46,000, total deposits $1,200,000, and total assets of $1,626,000.
Official Bank Title(s)
1: The Peoples National Bank of Rochester, PA
Bank Note Types Issued
A total of $461,270 in National Bank Notes was issued by this bank between 1905 and 1935. This consisted of a total of 58,195 notes (47,260 large size and 10,935 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 - 1165 1902 Red Seal 3x10-20 1 - 839 1902 Date Back 4x5 1 - 2300 1902 Date Back 3x10-20 1 - 1670 1902 Plain Back 4x5 2301 - 5974 1902 Plain Back 3x10-20 1671 - 3837 1929 Type 1 6x5 1 - 996 1929 Type 1 6x10 1 - 486 1929 Type 1 6x20 1 - 138 1929 Type 2 5 1 - 740 1929 Type 2 10 1 - 411 1929 Type 2 20 1 - 64
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1905 - 1935):
Presidents:
- John Conway, 1905-1905
- James G. Mitchell, 1906-1908
- Augustus E. Heller, 1909-1923
- Dr. Walter M. Yost, 1924-1934
Cashiers:
Other Bank Note Signers
- James G. Mitchell signed notes as Vice President.
- There are currently no known Assistant Cashier bank note signers for this bank.
Wiki Links
- Pennsylvania Bank Note History
- General information on Rochester (Wikipedia)
- General information on Beaver County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Rochester, PA, 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
- Pittsburgh Dispatch, Pittsburgh, PA, Wed., Apr. 3, 1889.
- The Pittsburgh Press, Pittsburgh, PA, Thu., Aug. 16, 1900.
- Pittsburgh Daily Post, Pittsburgh, PA, Fri. Dec. 21, 1900.
- Pittsburgh Post-Gazette, Pittsburgh, PA, Thu., Jan. 17, 1901.
- Pittsburgh Daily Post, Pittsburgh, PA, Thu., Apr. 20, 1905.
- Pittsburgh Daily Post, Pittsburgh, PA, Sun., May 21, 1905.
- Pittsburgh Daily Post, Pittsburgh, PA, Tue., Nov. 21, 1905.
- The Pittsburgh Press, Pittsburgh, PA, Fri., Apr. 18, 1924.
- The Pittsburgh Press, Pittsburgh, PA, Sat., Jan. 14, 1928.
- Pittsburgh Post-Gazette, Pittsburgh, PA, Tue, Jan. 1, 1935.