San Francisco National Bank, San Francisco, CA (Charter 5096)

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Building purchased by the San Francisco National Bank for future home
Building purchased by the San Francisco National Bank for future home. The bank's quarters and this building were both destroyed in the 1906 Earthquake. A temporary office was secured at 2340 Pacific Avenue.[1]

San Francisco National Bank, San Francisco, CA (Chartered 1897 - Liquidated 1910)

Town History

Bank photos, postcards, or other items.

San Francisco, officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the fourth most populous city in California, with 808,437 residents, and the 17th most populous city in the United States as of 2022.

San Francisco was founded on June 29, 1776, when settlers from New Spain established the Presidio of San Francisco at the Golden Gate, and the Mission San Francisco de Asís a few miles away, both named for Francis of Assisi. The California Gold Rush of 1849 brought rapid growth, transforming an unimportant hamlet into a busy port, making it the largest city on the West Coast at the time; between 1870 and 1900, approximately one quarter of California's population resided in the city proper. In 1856, San Francisco became a consolidated city-county. After three-quarters of the city was destroyed by the 1906 earthquake and fire, it was quickly rebuilt, hosting the Panama-Pacific International Exposition nine years later.

Peder Sather (September 25, 1810 – December 28, 1886) was a Norwegian-born American banker who is best known for his legacy to the University of California, Berkeley. His widow, Jane K. Sather, donated money in his memory for two of the school's most famous landmarks. Sather Gate and Sather Tower, which is more commonly known as The Campanile, are both California Historical Landmarks which are registered National Register of Historic Places. Sather (Sæther) was a fisherman before emigrating to New York City in about 1832. He entered the banking house of Drexel & Co. in Philadelphia and remained there until 1850. Philadelphia banker Francis Martin Drexel offered to assist Peder Sather and his business partner Edward W. Church in establishing a bank in San Francisco. In 1850, Sather and Church moved to San Francisco and established the banking firm of Drexel, Sather & Church. From 1863, Peder Sather became the sole owner of the bank. He went on to become one of California’s richest men.

San Francisco had 21 National Banks chartered during the Bank Note Era, and all 21 of those banks issued National Bank Notes.

Bank History

In 1855, the failure of Page & Bacon of St. Louis caused a run whereby over $400,000 was withdrawn from the Page & Bacon Co. followed by a general run on all banks including the banking house of Drexel, Sather & Church. It was not clear if any except the Nevada bank might survive.[2] In June 1858, Messrs. Sather & Church had resumed business at their old place, corner of Clay and Battery Streets.[3]

In June 1881, the police receiving information of the intended attempt by a band of Eastern burglars to rob well-known treasure-houses, and that Sather & Co.'s bank was first to be attacked, laid plans to capture the men. A part of a floor in a closet above the banking room had been tampered with and sawed through, and a hole dug into the top brickwork of the vault. When the burglars returned to their work they were pounced upon. One man escaped and one was captured. He proved to be Jimmy Hope, a noted Eastern cracksman.[4] On October 15, 1881, James "Jimmy" Hope, the expert burglar whose trial had been a long and hotly contested one was found guilty of an attempt at burglary in the first degree in attempting to do the Sather & Co.'s bank. The jury was out one hour.[5]

On December 1, 1897, two of the largest banks in San Francisco were about to exchange their state for national charters. On December 1st, the Sather Banking Company, one of the oldest and best known financial institutions of San Francisco, organized in the 1850s, would become the San Francisco National Bank with $500,000 capital. The Nevada Bank about the 1st of the year would become the Nevada National Bank.[6] The San Francisco National took possession of the banking house and premises formerly occupied by the Sather Banking Co. The officers were J.K. Wilson, president; E.A. Bruguiere, vice president; and L.I Cowgill, cashier.[7]

In March 1906, Horace G. White, Jr., of the San Francisco National Bank was elected vice president of the San Francisco Chapter of the American Institute of Bank Clerks.[8]

After the 1906 Earthquake and devastating fire, the San Francisco National was able to reopen in temporary office space at 2340 Pacific Avenue.

On Monday, May 7, 1906, the American National Bank resumed its tenancy of the quarters it occupied on the ground floor of the Merchants Exchange building on the east side of the main entrance. This was the first bank to return to the banking district. It was only seventeen days since the building was swept by the flames. The debris had been removed and temporary furniture such as counters and desks and other accessories had taken the place of the costly furnishings which were destroyed.[9] The San Francisco National Bank rented quarters on the west side of the ground floor, while on the floor above the German Savings Bank and the Safe Deposit and Trust Company found quarters.[10]

On Tuesday, January 11, 1910, the following officers were elected: James K. Wilson, president; William P. Johnson, C.K. McIntosh, vice president; F.W. Wolfe, cashier; C.L. Davis, assistant cashier; William P. Johnson, William J. Dutton, George A. Pope, C.S. Benedict, George A. Newhall, W.H. Talbot, Sam Bell McKee, C.K. McIntosh, and James K. Wilson, directors.[11] Among the notable buildings completed during 1909 was the San Francisco National Bank building at 450 California Street, northwest corner of Leidesdorff Street.[12][13]

On May 31, 1910, the terms of the purchase of the San Francisco National Bank by the Bank of California were made public. The owners of the latter institution's 10,000 shares of stock would be paid part in cash and part in stock of the Bank of California. For each share of San Francisco National stock, $37.50 in cash and one half share of Bank of California new stock would be paid. In aggregate this would be $375,000 in cash and 5,000 shares of new stock with a par value of $100. The Bank of California would increase its capital stock from $4 million to 8.5 million by capitalizing $4 million of its surplus and undivided profits. Stockholders would bee on Thursday, July 7th to ratify the plan with more than a majority having already agreed to do so. The building occupied by the San Francisco National goes with the purchase. Interestingly, this would be the second time the Bank of California bought these premises. The first time was about ten years earlier when it bough out the London and San Francisco Bank which owned and occupied the building. The Bank of California occupied it while it was rebuilding its new home then sold it about two years ago to the San Francisco National. Vice president C.K. McIntosh and cashier F.W. Wolfe would go with the Bank of California in similar positions. President James K. Wilson would go to the Wells Fargo Nevada National as a vice president and assistant cashier Davis would go with the same bank in a similar capacity.[14] It was said the San Francisco National Bank stockholders got a strong inducement to sell out entirely to the Bank of California instead of trying to press to a conclusion their tentative plans to effect a merger with the American National Bank in the Merchants Exchange Building across the street. The latter deal seemed very probable until the Bank of California appeared on the scene with its offer. George A. Newhall and George A. Pope were stockholders of both the Bank of California and San Francisco National. That fact was said to have had its weight in perfecting the deal.[15]

On May 12, 1938, James K. Wilson, pioneer California educator and banker died at his home at 3196 Pacific Avenue at the age of 93. In 1867 after serving in the Civil War, he came to San Francisco and served as principal of the old Lincoln Grammar School and Boy's High School. Later he became president of the old Sather Bank and the San Francisco National Bank, and for years was a vice president of the Wells Fargo Bank. Mr. Wilson was one of the first presidents of the Olympic Club, and a member of the Pacific Union, Bohemian, and Commercial Clubs.[16]

Official Bank Title

1: The San Francisco National Bank, San Francisco, CA

Bank Note Types Issued

1882 Brown Back $20 bank note with printed signatures of L.I. Cowgill, Cashier and J.K. Wilson, President
1882 Brown Back $20 bank note with printed signatures of L.I. Cowgill, Cashier and J.K. Wilson, President. Courtesy of Heritage Auctions, www.ha.com
1882 Brown Back $100 bank note with printed signatures of L.I. Cowgill, Cashier and J.K. Wilson, President
1882 Brown Back $100 bank note with printed signatures of L.I. Cowgill, Cashier and J.K. Wilson, President. Courtesy of the NBNCensus.com
1882 Brown Back $5 bank note with printed signatures of F.W. Wolfe, Cashier and J.K. Wilson, President
1882 Brown Back $5 bank note with printed signatures of F.W. Wolfe, Cashier and J.K. Wilson, President. Courtesy of Heritage Auctions, www.ha.com

A total of $2,844,660 in National Bank Notes was issued by this bank between 1897 and 1910. This consisted of a total of 297,310 notes (297,310 large size and No small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type Sheet/Denoms Serial#s Sheet Comments
1882 Brown Back 4x5 1 - 26500
1882 Brown Back 3x10-20 1 - 25660
1882 Brown Back 50-100 1 - 1980
1882 Date Back 4x5 1 - 13778
1882 Date Back 3x10-20 1 - 7043
1882 Date Back 50-100 1 - 713

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1897 - 1910):

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

  • San Francisco, CA, 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
  1. ↑ The Bankers' Magazine, Vol. 72, Jan. 1906-June 1906, p. 703.
  2. ↑ Bangor Daily Whig and Courier, Bangor, ME, Fri., Mar. 23, 1855.
  3. ↑ Orleans Independent Standard, Irasburgh, VT, Fri., June 18, 1858.
  4. ↑ The Sacramento Union, Sacramento, CA, Wed., June 29, 1881.
  5. ↑ The San Francisco Examiner, San Francisco, CA, Wed., Oct. 5, 1881.
  6. ↑ Boston Evening Transcript, Boston, MA, Sat., Nov. 6, 1897.
  7. ↑ The Sacramento Bee, Sacramento, CA, Thu., Dec. 2, 1897.
  8. ↑ San Francisco Chronicle, San Francisco, CA, Sun., Mar. 18, 1906.
  9. ↑ Oakland Tribune, Oakland, CA, Sat., May 5, 1906.
  10. ↑ The Sacramento Bee, Sacramento, CA, Mon., Apr. 30, 1906.
  11. ↑ The San Francisco Call and Post, San Francisco, CA, Wed., Jan. 12, 1910.
  12. ↑ The San Francisco Examiner, San Francisco, CA, Thu., Nov. 25, 1909.
  13. ↑ The San Francisco Examiner, San Francisco, CA, Thu., Jan. 20, 1910.
  14. ↑ The San Francisco Examiner, San Francisco, CA, Wed., June 1, 1910.
  15. ↑ The San Francisco Examiner, San Francisco, CA, Tue., May 10, 1910.
  16. ↑ The San Francisco Examiner, San Francisco, CA, Fri., May 13, 1938.
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