Peoples National Bank, Spring Grove, PA (Charter 8141)
Peoples National Bank, Spring Grove, PA (Chartered 1906 - Closed 1932)
Town History
Spring Grove is a borough in York County, Pennsylvania. The population was 2,372 at the 2020 census. In 1900 the population was 1,005, growing to 1,236 by 1930.
The site of Spring Grove was laid out in 1747 on the banks of Codorus Creek, midway between York and Hanover, by a surveyor for the Penns. Its growth since that time falls into two periods, each lasting approximately 100 years. The first witnessed development of the borough as an iron-making center. The second, which extends to the present day, is as a papermaking center. The businesses of both periods have relied on certain natural resources of the area.
Originally, Spring Grove was a part of Paradise Township and was contained within the boundaries of Lancaster County. York County was formed in 1749 and Jackson Township, including Spring Grove, in 1853. The residents of the community petitioned the County Court in 1882 for incorporation as a borough, and in August of that year their petition was granted.
By the mid-19th century, the manufacturing of iron had grown to a point where almost 200 short tons of iron bar were produced locally each year. By 1851, however, the iron business had been suspended, and its buildings were converted to the manufacturing of paper. Thirteen years later, the plant was purchased by P.H. Glatfelter for $14,000.
Other basic industries, such as brick-making and the manufacture of explosives, have from time to time established themselves in the borough. None, however, have remained as long nor have been as successful as the paper mill. Since 1865, the growth of the borough has reflected growth of the Glatfelter Paper Mill.
Spring Grove had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized February 12, 1906
- Chartered March 15, 1906
- Opened for business March 17, 1906
- Closed May 28, 1932
- Consolidated with 6536 May 28, 1932 (First National Bank/Spring Grove NB, Spring Grove, PA)
- Circulation assumed by 6536 (First National Bank/Spring Grove NB, Spring Grove, PA)
On Tuesday, March 20, 1906, The Peoples National Bank of Spring Grove opened its doors for business. The capital stock was $50,000, all paid in. P.H. Hershey was elected president. A fine two-story building was erected in the center of the borough.
On Friday, January 14, 1910, the directors, P.H. Hershey, L.H. Alwine, E.S. Senft, J.T. Crist, and Charles Hoke, all of Spring Grove; the Rev. N.W. Sechler, Jefferson; George W. Rohrbaugh, Ironore; Frank Eyster, LaBott; and E.E. Hamme, Proters; organized by elected the following officers: P.H. Hershe, president; L.H. Alwine, vice president; Harry C. Stitt, cashier; and A.D. Swartz, teller.
On Tuesday, January 13, 1914, the stockholders elected the following directors: L.H. Alwine, Jacob T. Crist, Charles E. Hoke, Edward S. Senft, Frank Eyser, E.E. Hamme, G.W. Rohrbaugh, Rev. N.W. Sechler, and Jessie H. Runck. Jessie H. Runck succeeded P.H. Hershey.
About February 1926, Samuel W. Eline of Hanover was awarded the contract to erect the new builing for the Peoples National Bank at his bid of $40,000. The new building would be located on the site of the present structure. The exterior would be of Indiana limestone and colonial brick from Alwine Brothers, Berlin Junction.
In January 1929, the following directors were elected: L.H. Alwine, A.D. Swartz, McClellan Swartz, all of Spring Grove; Charles Baer, Bair Station; Franklin Eyster, LaBott; E.E. Hamm, Hanover; and N.W. Sechler, York.
On Friday, March 29, 1929, at the weekly meeting of the board of directors of the Peoples National Bank, a pictorial trade mark designed recently by the Falconer Company, Baltimore, was adopted. The trade mark would be on all stationery used by the bank. In the resolution adopting the trade mark, it was stated that the design was created to depict the origin of the name of this borough and its first industry, established in 1755. The industry named was the old iron forge from which the borough got its name, Spring Forge, which served for more than 150 years. The name was changed finally to Spring Grove. The trade mark contained a picture of the Peoples bank enclosed in a circle in the center. On the left side was a drawing of the old iron forge operated here from 1755 to the early part of the 19th century. This drawing showed a water-driven hammer worked on the fulcrum principle. A large cog wheel connected at the end of the handle lifted the big hammer and dropped it. The other side had on it a drawing of a spring and a grove of trees. The trade mark contained the words, "Peoples National Bank, Spring Grove, Pa.” and "Old Forge at Spring Grove." A.D. Swartz, cashier of the bank, spent a lot of time trying to get a photograph or drawing of the kind of forge in use here but was unable to find one. He finally found a man who had seen the old forge here in operation. Jacob Kessler, North Codorus township, who was within a year or two of the century mark, told Mr. Swartz he had seen the forge in operation in his boyhood. The drawing was made from his description. Mr. Kessler said that the ring of the huge hammer could be heard for several miles. It was at this forge that cannon balls for the Continental army were made for the Revolutionary war. Charcoal made from chestnut wood was used in the forges. Spring forge was established in 1755 by Peter Dick, who came here, from Philadelphia. He opened a bloomery and conducted it for some years after which the forge was installed. The forge was operated for some years by the Coleman family.
On Tuesday, January 12, 1932, the nine directors were re-elected. The directors were: L.H. Alwine, G.W. Rohrbaugh, Pierce Stambaugh, A.D. Swartz, McClellan Swartz, Charles Baer, Franklin Eyster, E.E. Hamm, and N.W. Sechler.
On May 24, 1932, stockholders of the First National Bank and the Peoples National Bank of Spring Grove approved the action of the directors of the two institutions in agreeing to consolidate the two banks to be known as the Spring Grove National Bank. With approval of the comptroller of the currency, the consolidated bank would open for business on Tuesday, May 31. Due to the fact that the Peoples National Bank building was more modern in its equipment and vault, the business would be conducted in that building.
Official Bank Title(s)
1: The Peoples National Bank of Spring Grove, PA
Bank Note Types Issued
A total of $936,400 in National Bank Notes was issued by this bank between 1906 and 1932. This consisted of a total of 116,516 notes (101,912 large size and 14,604 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 - 1662 1902 Red Seal 3x10-20 1 - 1510 1902 Date Back 4x5 1 - 4100 1902 Date Back 3x10-20 1 - 2940 1902 Plain Back 4x5 4101 - 13353 1902 Plain Back 3x10-20 2941 - 8953 1929 Type 1 6x5 1 - 1481 1929 Type 1 6x10 1 - 764 1929 Type 1 6x20 1 - 189
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1906 - 1932):
Presidents:
Cashiers:
- Harry C. Stitt, 1906-1909
- Adam Dietrich Swartz, 1910-1917
- William Herman Runck, 1918-1918
- Adam Dietrich Swartz, 1919-1931
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Pennsylvania Bank Note History
- General information on Spring Grove (Wikipedia)
- General information on York County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Spring Grove, 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
- Harrisburg Telegraph, Harrisburg, PA, Tue., Mar. 20, 1906.
- The York Dispatch, York, PA, Sat., Jan. 15, 1910.
- The York Dispatch, York, PA, Wed., Jan., 14, 1914.
- New Oxford Item, New Oxford, PA, Thu., Feb. 4, 1926.
- York Daily Record, York, PA, Wed., Jan. 9, 1929.
- The Evening Sun, Hanover, PA, Fri., Mar. 29, 1929.
- York Daily Record, York, PA, Wed., Jan. 13, 1932.
- The Evening Sun, Hanover, PA, Tue., May 24, 1932.