Philmont National Bank, Philmont, NY (Charter 13945)
Philmont National Bank, Philmont, NY (Chartered 1934 - Open past 1935)
Town History
Philmont is a village in Columbia County, New York. The population was 1,379 at the 2010 census. The village is located in the northeastern part of the town of Claverack on New York State Route 217. It's approximately 35 miles south of Albany and 35 miles northeast of Kingston near the High Falls Conservation Area. High Falls, Columbia County's highest waterfall, cascades 150 feet before culminating in a large pool. The water flows southwest, then northwest by Claverack Creek, until eventually reaching the Hudson River.
The community was once known as "Factory Hill" due to the number of wool factories. The village was incorporated in 1891. It derives its name from George P. Philip, who built a 36-acre reservoir to provide water for his mill. This in turn led to construction of a 56-acre reservoir up the "mountain" in the Taconic Mountains to guarantee water to the mills, thus creating the factory hill.
Philmont had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized January 6, 1934
- Chartered January 17, 1934
- Succeeded 7233 and assumed its circulation (First National Bank, Philmont, NY)
- Bank was Open past 1935
- Moon, Robert, "The National Bank(s) of Philmont, New York," Paper Money No. 129, pp 96-98.
The officers in 1934 were Charles Tracy, cashier and A.D. Curtis, president.
Charles Tracy (1858-1950) served as chairman of the Republican County Committee for a quarter of a century and also as the town clerk. He entered the hay and grain business with his father as a young man, but later went into the banking business becoming associated with the First National Bank of Philmont as its first cashier and the State Bank of Chatham.
Alfred D. Curtis (1868-1938), president of the Philmont National Bank and Republican State committeeman in Columbia County died on June 5, 1938, at the New England Baptist Hospital, Boston, Mass. following a major operation. He was a native of Harlemville and was survived by his wife, Bessie Niver Curits.
On February 17, 1938, two armed robbers held up four employees of the Philmont National Bank, locked them in the vault and escaped with cash estimated by bank officials at $10,000.
On February 26, 1938, Police intercepted a letter designed to aid the escape from the Hudson, NY Jail of Edward Olszewski, charged with bank robbery. Chief Leadbitter of Poughkeepsie said his men found the note in Olszewski's Poughkeepsie home, after receiving a tip that a man had visited the prisoner's wife, Mrs. Netty Olszewski. Addressed to Mrs. Olszewski, the penciled message directed her, the chief said, to have a pair of her husband's shoes repaired and to insert a file in the sole. Olszewski was awaiting action of the Columbia County grand jury on a charge of aiding in robbing the Philmont National Bank of more than $9,000. On May 18, Edward Olszewski, 27, of Poughkeepsie, awaited transfer to Clinton Prison at Dannemora to begin a sentence of 20 to 40 years in connection with the robbery of the Philmont National Bank. He abruptly pleaded guilty of a second degree robbery as a second offender in connection with the holdup was sought. County Judge George C. Inman, sentenced Olszewski to not less than 15 nor more than 30 years for robbery and not less than five nor more than 10 for committing the crime while armed. Olszewski, who with Ralph Briggs, 24, former old gold dealer of Poughkeepsie and Hyde Park, was indicted for the armed hold and admitted he was the second offender. He had previously pleaded guilty to a robbery charge in Cleveland, Ohio. District Attorney Edward H. Best who arraigned the defendant, consented to the reduction in the charge from first degree robbery to second degree.
On February 4, 1939, Ralph Briggs was extradited from Kentucky despite having been sentenced to five years for shooting at a Lexington detective in an attempt to evade capture. Gov. Chandler, advised by Attorney General Hubert Meredith that Briggs could be extradited even though serving a sentence, decided New York taxpayers could maintain him rather than Kentucky's. Alabama also wanted the prisoner to answer charges in connection with the robbery of the Merchants Bank at Hanceville, AL on December 14, 1938 which netted $2,400. Reportedly, Briggs signed a confession to that robbery and to the Philmont robbery. Since the Philmont robbery was the most serious of the three offenses, Columbia County authorities were conceded first claim on the prisoner. Briggs received 45 to 60 years in Clinton Prison joining Edward Olszewski there.
In February, 1955 the Farmers National Bank of Hudson announced it bought the neighboring Philmont National Bank for $165,000 to operate as a branch. New York State law permitted commercial banks to open branches in other localities only if another bank did not have its principal office there.
Official Bank Title(s)
1: Philmont National Bank, Philmont, NY
Bank Note Types Issued
A total of $12,020 in National Bank Notes was issued by this bank between 1934 and 1935. This consisted of a total of 985 notes (No large size and 985 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1929 Type 2 10 1 - 768 1929 Type 2 20 1 - 217
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1934 - 1936):
Presidents:
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- New York Bank Note History
- General information on Philmont (Wikipedia)
- General information on Columbia County (Wikipedia)
- General information on New York (Wikipedia)
Sources
- Philmont, NY, 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
- The Daily Item, Sunbury, PA, Thu., Feb. 17, 1938.
- Asbury Park Press, Asbury Park, NJ, Sun., Feb. 27, 1938.
- Poughkeepsie Eagle-News, Poughkeepsie, NY, Tue., May 17, 1938.
- The Ithaca Journal, Ithaca, NY, Wed., May 18, 1938.
- The Birmingham News, Birmingham, AL, Sat., Dec. 17, 1938.
- Middletown Times Herald, Middletown, NY, Mon, Jan. 23, 1939.
- The Kingston Daily Freeman, Kingston, NY, Sat., Feb. 4, 1939.
- Daily News, New York, NY, Fri., Feb. 10, 1939.
- The Ithaca Journal, Ithaca, NY, Tue., Feb. 15, 1955.