Reading National Bank, Reading, PA (Charter 4887)
Reading National Bank/Reading NB & TC, Reading, PA (Chartered 1893 - Receivership 1934)
Town History
Reading (/ˈrɛdɪŋ/ RED-ing) is a city in and the county seat of Berks County, Pennsylvania. The city had a population of 95,112 as of the 2020 census and is the fourth-largest city in Pennsylvania after Philadelphia, Pittsburgh, and Allentown. Reading is located in the southeastern part of the state, 38.8 miles southwest of Allentown and 62.9 miles northwest of Philadelphia, and is the principal city of the Greater Reading Area, which had 420,152 residents as of 2020.
Reading's name was drawn from the now-defunct Reading Company, widely known as the Reading Railroad and since acquired by Conrail, that played a vital role in transporting anthracite coal from Pennsylvania's Coal Region to major East Coast metropolitan markets through the Port of Philadelphia for much of the 19th and 20th centuries. Reading Railroad is one of the four railroad properties in the classic U.S. version of the Monopoly board game. Reading was one of the first localities where outlet shopping became a tourist industry. It has been known as "The Pretzel City" because numerous local pretzel bakeries are based in the city and its suburbs; currently, Bachman, Dieffenbach, Tom Sturgis, and Unique Pretzel bakeries call the Reading area home. In recent years, the Reading area has become a destination for cyclists with more than 125 miles of trails in five major preserves; the region is an International Mountain Bicycling Association ride center.
Reading had nine National Banks chartered during the Bank Note Era, and eight of those banks issued National Bank Notes.
Bank History
- Organized January 27, 1893
- Chartered March 11, 1893
- 2: Conservatorship October 10, 1933
- 2: Receivership October 27, 1934
On the evening of March 7, 1893, directors of the Reading National Bank met in the office of George P. Zieber, 60 South Sixth Street, and elected James T. Reber, president; William R. Hinnershitz, vice president; and John M. Bertolet, cashier.
On March 7, 1893, at the meeting of the directors of the Reading National Bank held at the office of George P. Zieber, Isaac Y. Spang, clerk in the Farmers National Bank was elected cashier. William Levan, P. & R. Station agent at Exeter for the past 23 years was elected watchman and messenger. On March 20, 1893, the Reading National Bank was formally opened. The first person to make a deposit was George P. Zieber. Cashier Bertolet was kept busy receiving deposits and cashier-elect Isaac Y. Spang was also in attendance.
On Tuesday, January 14, 1896, the directors elected were James T. Reber, Wm. R. Hinnershitz, Henry C. England, L.H. Focht, Charles W. Hendel, Dr. Wm. F. Hertzog, Fred. S. Jones, Louis F. Kraemer, A.H. Kretz, Thomas P. Merritt, John H. Printz, Philip Rufe, and Wm. Kerper Stevens.
In January 1919, the directors elected the following officers: James T. Reber, president; Charles W. Hendel, vice president; Henry K. Harrison, cashier; and B.F. Witman, assistant cashier. The directors were Charles W. Hendel of Reading, Hat Manufacturer; Louis F. Kraemer, Stony Creek Woolen Mills; James T. Reber, President; Wm. Kerper Stevens, Attorney-at-Law; Benjamin F. Fox of Reading; E.S. Fox & Co., Terra Cotta Works; C.R. Heizmann, President, Penn Hardware Co., G. Stanley Hendel, John Hendel's Sons, Hat Manufacturers; J. Heber Parker, Vice President, Carpenter Steel Co.; E. Richard Meinig, President, E. Richard Meinig Co., Glove Manufacturers; Henry K. Harrison, Cashier.
James T. Reber, died from a complication of diseases at his home, 232 North Sixth Street, Sunday morning, November 16, 1919, at 9:30, after a long illness. He was 85 years of age. Mr. Reber was well known in his business activities in Reading, having conducted a hardware business for forty years and, served as president of the Reading National Bank since it was organized in 1893. He was very active in the Reformed church and was a member of St Paul's Reformed Church. He was a trustee of the Bethany Orphans' Home for over 20 years and served as a trustee of Franklin and Marshall College, Lancaster, since 1907, when he was elected. In fraternal circles he was prominently identified with the Knights Templar and the Odd Fellows. He was a native of Sinking Spring, Berks County, Pennsylvania.
On January 10, 1928, the following directors were elected: Charles W. Hendel, Henry K. Harrison, G. Stanley Hendel, Louis F. Kraemer, J. Heber Parker, Gustav Oberlaender, George A. Ravel, E. Richard Meinig, Charles H. Schlegel and Isaac C. Eberly. The tellers were Harry Hahn and Samuel F. Guss. The board reorganized on Tuesday, Jan. 17, electing the following new officers: Charles W. Hendel, chairman of the board, Henry K. Harrison, president; George A. Ravel, Barry F. Whitman, and Stanley F. Warkoczewski, vice president; Louis F. Kraemer, secretary of the board; Walter G. Mast, cashier; Daniel R. Goodman and John R. Yerger, assistant cashiers; and Harry F. Rahn, trust officer. The bank had resources of $15 million and was located at 615-617 Penn Street and operated branch offices at Lancaster Ave. and Noble St., 9th and Bingaman Sts., Moss and Exeter Sts., Centre Ave. and Bern St., and 4th and Bingaman Sts.
On February 17, 1933, three Reading banks, the Farmers National Bank and Trust Company, the Penn National Bank and Trust Company, and the Reading National Bank and Trust Company merged. The merged company with total resources of approximately $30 million would bear the name of the Farmers National Bank and Trust Company. Directors of the institutions as formerly constituted were: Reading National Bank and Trust Company, Henry K. Harrison, G. Stanley Hendel, Louis F. Kraemer, J. Heber Parker, George A. Ravel, E. Richard Meinig, Charles H. Schlegel, Isaac C. Eberly, William C. Bitting and W.W. Staudt; Penn National Bank and Trust Company, Joseph V.R. Leinbach, J.H. Barr, W.D. Brumbach, J.H. Hasbrouck, Irvin F. Impink, A. Raymond Bard, Harry F. Kantner, Irvin S. Brant, John M. Seasholtz and Carl Boas; Farmers National Bank and Trust Company, William B. Eckert, Aaron B. Stein, Wellington M. Bertolet, F.A. Bigelow, Landes F. Miller, Max Luria, Fred H. Ludwig, John Barbey, George B. Schaeffer, John E. Barbey, Thomas A. Willson, Warren S. Adams, John S. Giles, Dr. Claude W. Bankes, William K. Eckert, Ferdinand Thun, and George D. Horst.
Ferdinand Thun, Wyomissing manufacturer, was made chairman of the board and George D. Horst, Reading manufacturer was president of the new Farmers National Bank and Trust Co. Charles T. Cubellis would continue as assistant to the president; Henry K. Harrison, vice president; Walter G. Mast, assistant vice president; Joseph H. Hasbrouck, vice president; F. Edwin Titlow, vice president; H. Earl Sheetz, assistant cashier. Harrison and Mast were officers of the Reading National Bank and Trust Co. and Hasbrouck, Titlow and Sheetz, officers of the Penn National Bank and Trust Co. These officers of the Farmers National Bank and Trust Company continued in their previous positions: William K. Eckert, vice president; Robert E. Gehret, assistant vice president; Elmer D. Miller, cashier; Richard M. Quimby assistant cashier; William F. McNall, secretary to the board; Paul J. Kaufmann, auditor; Harrison E. Quereau, trust officer; H.L. Althouse, assistant trust officer and manager of the real estate department; and George B. Balmer, solicitor. Business was conducted as usual at the three institutions and customers had been asked to continue to transact their business at the same offices as they had done prior to the merger.
On January 3, 1934, a wildly jubilant victory dinner was held at the Abraham Lincoln. The Union National Bank of Reading virtually became a reality when 100,600 shares of stock were subscribed as reported at the dinner. Leaders in the organization of the proposed new bank said they expected to open for business in from 30 to 60 days. The bank's opening would allow $4,600,000 in frozen deposits to be made available to 58,000 depositors in the defunct Farmers, Reading, and Penn National Banks.
On January 30, 1935, stockholders in three Reading banks whose affairs were in the hands of receivers, were called on to pay 100 percent as assessments totaling $2,600,020 for the benefit of depositors. Farmers National Bank and Trust Company stockholders were asked to pay $1,000,020 to Edward C. Nolan, receiver. Reading National Bank and Trust Company stockholders must pay $600,000 to H.S. Adams, receiver, and Penn National Bank and Trust company stock holders pay $1,000,000 to William H. McGowan, receiver, according to the assessment notice from J.F.T. O'Connor, comptroller of the currency. Payments, were due Saturday, Feb. 23. 1935. In each case the receiver is empowered to bring suit or to take other steps to enforce collection of the assessment. The receivers were engaged in realizing on the assets of the three institutions, which were regarded as separate, regardless of their merger a few weeks before the general banking holiday in 1933. The proceeds of the assessments will be used in paying further dividends to depositors, who have received about 30 percent of their holdings thus far.
Official Bank Title(s)
1: The Reading National Bank, Reading, PA
2: The Reading National Bank and Trust Company (10/9/1928), Reading, PA
Bank Note Types Issued
A total of $5,425,010 in National Bank Notes was issued by this bank between 1893 and 1934. This consisted of a total of 666,016 notes (455,116 large size and 210,900 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1: 1882 Brown Back 4x5 1 - 10900 1: 1882 Brown Back 3x10-20 1 - 11500 1: 1882 Date Back 4x5 1 - 9840 1: 1882 Date Back 3x10-20 1 - 7328 1: 1902 Date Back 4x5 1 - 6000 1: 1902 Date Back 3x10-20 1 - 4800 1: 1902 Plain Back 4x5 6001 - 44025 1: 1902 Plain Back 3x10-20 4801 - 30186 2: 1929 Type 1 6x5 1 - 15614 2: 1929 Type 1 6x10 1 - 9046 2: 1929 Type 1 6x20 1 - 2528 2: 1929 Type 2 5 1 - 28960 2: 1929 Type 2 10 1 - 15657 2: 1929 Type 2 20 1 - 3155
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1893 - 1934):
Presidents:
Cashiers:
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 Reading (Wikipedia)
- General information on Berks County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Reading, PA, Wikipedia, https://en.wikipedia.org/wiki/Reading,_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
- Reading Times, Reading, PA, Tue., Feb. 7, 1893.
- Reading Times, Reading, PA, Wed., Mar. 8, 1893.
- Reading Times, Reading, PA, Tue., Mar. 21, 1893.
- Reading Times, Reading, PA, Wed., Jan. 15, 1896.
- Reading Times, Reading, PA, Thu., Jan. 23, 1919.
- Reading Times, Reading, PA, Mon., Mar. 24, 1919.
- Reading Times, Reading, PA, Mon. Nov. 17, 1919.
- Reading Times, Reading, PA, Mon., Nov. 14, 1927.
- Reading Times, Reading, PA, Wed., Jan. 11, 1928.
- Reading Times, Reading, PA, Wed., Jan. 18, 1928.
- Shamokin Daily News, Shamokin, PA, Fri., Feb. 17, 1933.
- The Ephrata Review, Ephrata, PA, Fri., Jan. 5, 1934.
- Reading Times, Reading, PA, Thu., Jan. 31, 1935.