Poolesville National Bank, Poolesville, MD (Charter 8860)
Poolesville National Bank, Poolesville, MD (Chartered 1907 - Liquidated 1929)
Town History
Poolesville is a town in the western portion of Montgomery County, Maryland. It is surrounded by (but is technically not part of) the Montgomery County Agricultural Reserve, and is considered a distant bedroom community for commuters to Washington, D.C.
The name of the town comes from the brothers John Poole, Sr. and Joseph Poole, Sr., who owned land and slaves in what is now Poolesville. During the Civil War, Union military leaders realized that the shallow fords of the Potomac River posed a threat to the capital city. At certain times of the year, the Potomac River is shallow enough to cross and thus thousands of troops were moved to both Darnestown and Poolesville. Due to an historical anomaly, until 2010 the legal name of the town was "The Commissioners of Poolesville". Residents overwhelmingly voted to formally change the name to "The Town of Poolesville" in the November 2010 general election.
The population was 5,742 at the 2020 United States Census. In 1900 the population was 236 and by 1930, it decreased to 197.
Poolesville had one National Bank chartered during the Bank Note Era and it issued National Bank Notes.
Bank History
- Organized June 22, 1907
- Chartered September 9, 1907
- Opened for business December 9, 1907
- Liquidated December 14, 1929
- Absorbed by Central Trust Co. of Maryland, Frederick
The comptroller of the currency authorized the Poolesville National with capital of $25,000 to begin business. The officers were: H.W. Spurrier, president; W.T. Griffith and B.W. Walling, vice presidents; and George D. Willard, cashier.
On the morning of April 17, 1912, the tolling of church bells, the answer from farm bells, aroused 500 or more persons in Poolesville this morning from their sleep in order to save part of the town from destruction by fire. The heroic efforts of the women, who alarmed residents and who aided the men in the bucket brigade, did the work which saved part of the business section, and the flames were confined to the house of Elias Beall, tenanted by Walter Baker and the Poolesville National Bank. The bank was deluged and saved after being badly scorched. The Baker dwelling and its furniture were a total loss. The members of the family barely escaped with their lives as the roof fell in. The estimated loss was $4,500, with partial insurance. It was not known how the fire occurred.
On Tuesday, December 17, 1929, the Central Trust Company, Frederick, which recently had acquired the Smithsburg Bank of Washington County, announced the addition of a seventh branch bank, the Poolesville National Bank. The bank after 22 successful years of banking activities opened its doors the the Central Trust Company of Maryland.
On September 2, 1931, the doors of the Central Trust Company of Maryland, one of the largest banking institutions of Frederick and its eleven branches would not open and the bank's affairs were placed in the hands of the State Bank Examiner, George W. Page. The bank had branches in Washington and Montgomery Counties as well as Ellicott City.
Official Bank Title(s)
1: The Poolesville National Bank, Poolesville, MD
Bank Note Types Issued
A total of $151,250 in National Bank Notes was issued by this bank between 1907 and 1929. This consisted of a total of 19,396 notes (18,888 large size and 508 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 - 200 1902 Red Seal 3x10-20 1 - 160 1902 Date Back 4x5 1 - 900 1902 Date Back 3x10-20 1 - 680 1902 Plain Back 4x5 901 - 2713 1902 Plain Back 3x10-20 681 - 1649 1929 Type 1 6x5 1 - 85 E000085A-F000085A Not issued
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1907 - 1929):
Presidents:
Cashiers:
Other Bank Note Signers
- Dr. Byron William Walling, Vice President (1907...1921)
- There are currently no known Assistant Cashier bank note signers for this bank.
Wiki Links
- Maryland Bank Note History
- General information on Poolesville (Wikipedia)
- General information on Montgomery County (Wikipedia)
- General information on Maryland (Wikipedia)
Sources
- Poolesville, MD, Wikipedia, https://en.wikipedia.org/wiki/Poolesville,_Maryland
- 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 Wall Street Journal, New York, NY, Wed., Sep. 11, 1907.
- The Baltimore Sun, Baltimore, MD, Thu., Apr. 18, 1912.
- The Morning Herald, Hagerstown, MD, Tue., Dec. 17, 1929.
- The Baltimore Sun, Baltimore, MD, Thu., Sep. 3, 1931.