Second National Bank, Cumberland, MD (Charter 1519)

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Postcard showing The Second National Bank of Cumberland, Maryland, ca1900s.
Postcard showing The Second National Bank of Cumberland, Maryland, ca1900s. Courtesy of Adam Stroup

Second National Bank, Cumberland, MD (Chartered 1865 - Open past 1935)

Town History

Photo of The Second National Bank Building in Cumberland, Maryland, ca2018.
Photo of The Second National Bank Building in Cumberland, Maryland, ca2018. Courtesy of Google Maps

Cumberland is a city in and the county seat of Allegany County, Maryland. Located on the Potomac River, Cumberland is a regional business and commercial center for Western Maryland and the Potomac Highlands of West Virginia.

Historically Cumberland was known as the "Queen City", as it was once the second largest in the state. Because of its strategic location on what became known as the Cumberland Road through the Appalachians, after the American Revolution it served as a historical outfitting and staging point for westward emigrant trail migrations throughout the first half of the 1800s. In this role, it supported the settlement of the Ohio Country and the lands in that latitude of the Louisiana Purchase. It also became an industrial center, served by major roads, railroads, and the Chesapeake and Ohio Canal, which connected Cumberland to Washington, D.C. and is now a national historical park. Today, Interstate 68 bisects the town.

Cumberland was named by English colonists after the son of King George II, Prince William, the Duke of Cumberland. It is built on the site of the mid-18th century Fort Cumberland, the starting point for British General Edward Braddock's ill-fated attack on the French stronghold of Fort Duquesne (present-day Pittsburgh) during the French and Indian War.

During the 19th century, Cumberland was a key road, railroad and canal junction and it became the second-largest city in Maryland after the port city of Baltimore. Cumberland was the terminus, and namesake, of the Cumberland Road (begun in 1811) that extended westward to the Ohio River at Wheeling, West Virginia. This was the first portion of what would be constructed as the National Road, which eventually reached Ohio, Indiana, and Illinois.

In 1860, the population was 4,078, peaking in 1940 at 39,483. At the 2020 census, the city had a population of 19,076.

Cumberland had four National Banks chartered during the Bank Note Era, and all four of those banks issued National Bank Notes. Cumberland also had five Obsolete Banks that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).

Bank History

Cumberland City Bank Obsolete $5 bank note, Haxby MD-165, dated Oct. 4, 1858, with pen signatures of W.O. Spayth, Cashier and J.T. Norton, President.
Cumberland City Bank Obsolete $5 bank note, Haxby MD-165, dated Oct. 4, 1858, with pen signatures of W.O. Spayth, Cashier and J.T. Norton, President. Courtesy of Heritage Auctions, www.ha.com
  • Organized July 29, 1865
  • Chartered August 11, 1865
  • In place of City Bank
  • Bank was Open past 1935
  • Merged with The First National Bank (Charter 381) to form The First-Second National Bank and Trust Company on March 11, 1963

In May 1858, The name of the Savings Bank of Cumberland, Maryland was changed to Cumberland City Bank and a new, beautiful note engraved to take the place of the old issues of this respectable institution. The concern was first established in 1848 as a 'Savings Institution,' but in 1850 it was converted by an act of the Legislature into a bank called the "Cumberland Savings Bank." In 1858 the Legislature changed the name to "Cumberland City Bank."

On September 29, 1858, Mr. James T. Norton was elected president of the bank in place of James M. Schley, resigned.

On Friday, November 26, 1858, the Cumberland City Bank closed its doors. On February 23, 1859, books would be opened for subscription to the Allegany County Bank, chartered by the last session of the Legislature, at the banking house lately occupied by the Cumberland City Bank.

In January 1863, announcement was made of the re-establishment upon a solid basis of the Cumberland City Bank. Its officers were Col. Alfred Spates, president, and W.E. Weber, cashier. The old Cumberland Banking House was secured for the transaction of its business giving it a desirable central location.

On August 11, 1865, the Cumberland City Bank was converted into the Second National Bank of Cumberland. In November 1865, the officers were J. Philip Roman, president and Edwin L. Moore, cashier. The directors were Amos P. Shepherd, William W. McKaig, Samuel P. Smith, John Coulehan, Richard D. Johnson, and James H. Percy. The bank had capital of $100,000.

Known Directors:

On April 10, 1921, Daniel Annan, 75, 109 Washington Street, president, Second National Bank and the oldest banker in point of service in Western Maryland, died at his home at 8 o'clock this morning after an illness of several weeks. Mr. Annan succeeded the late Governor Lloyd Lowdnes as president of the bank in which capacity he had served since early manhood. He was chairman of the Allegany County Branch, Maryland State Council of Defense; vice president, Cumberland Fair Association and warden of Emmanuel Episcopal Church. Mrs. Virginia Opie Annan preceded her husband in death a few months ago. Mr. Annan was a native of Cumberland, a son of the late James R. and Priscilla Perry Annan. He entered the Second National Bank when a boy and his official connection with the institution covered 54 years. He became cashier when 21 years of age. He took a deep interest in agriculture, having owned a farm in this county, and was instrumental in giving cash prizes annually for the best corn grown in Allegany and contiguous counties of Pennsylvania and West Virginia. He also took an active part in the affairs of the Maryland Bankers' Association and was once president of that body.

The officers in 1926 were Tasker G. Lowndes, president; W.B. Lowndes, vice president; and D.F. Kuykendall, cashier.

On July 10, 1952, Tasker G. Lowndes, 68, president of the Maryland State Board of Education, died in Cumberland Memorial Hospital. He had been a patient since June 29. Prominent in business, civic and governmental affairs of the State, Mr. Lowndes held these positions at his death: Member of the Governor's advisory council, director of the Chesapeake and Potomac Telephone Company of Baltimore, vice president of the Lowndes Savings Bank and Trust Company, Clarksburg, W.Va.; vice president Commercial Coal Company of West Virginia, Chairman of the Board of Directors, Second National Bank of Cumberland; vice president, Maryland Society for Crippled Children and Adults; president, Cumberland Fair Association. He was born July 30, 1883 in Cumberland, the son of former Gov. Lloyd Lowndes and Elizabeth Tasker Lowndes. He was a graduate of Hill School, Pottstown, Pa., Yale University in 1907, and the University of Maryland Law School, 1909. After admission to the Maryland bar in 1909 he practiced law in Cumberland.

In December 1962, the proposal to merge the First National Bank and Trust Company and the Second National Bank was approved by directors of the two institutions. An announcement was made on the 6th by William S. Jenkins, president of the First National and John H. Mosner, president of the Secdond National. Shareholders would vote on the merger at the annual meetings scheduled for January 8, 1963. The merged bank would be known as The first-Second National Bank and Trust Company and would ooperate under the charter of the First National which dated back to 1812. Deposits of the combined institution would approximate $36 million and total resources would exceed $40 million, make this the largest bank in the area. Under the terms of the proposal, each share of First National would become one share of the new institution while shareholders of Second National would receive 1 3/8 shares of the resulting bank for each share held. The main office of The First-Second National Bank and Trust Company would be the main office of the Second National at 71 Baltimore Street. The main office of the First National at 153 Baltimore Street and the First National's motor drive-in branch at the corner of South George and Union Streets, and the Cresaptown branch of the Second would continue to be operated by the resulting bank. Jenkins would become president, Mosner, senior vice president, and Hugh D. Shires, vice president and cashier. The directorate would be composed of all directors of the merging banks.

The comptroller of the currency approved the merger in February 1963 and The First-Second National Bank and Trust Company opened on Monday, March 11, 1963.

Official Bank Title(s)

1: The Second National Bank of Cumberland, MD

Bank Note Types Issued

Original Series $1 bank note with pen signatures of Edwin L. Moore, Cashier and J. Philip Roman, President.
Original Series $1 bank note with pen signatures of Edwin L. Moore, Cashier and J. Philip Roman, President. Courtesy of Heritage Auctions, www.ha.com
1902 Red Seal $10 bank note with pen signatures of D.F. Kuykendall, Cashier and W. Bladen Lowndes, Vice President.
1902 Red Seal $10 bank note with pen signatures of D.F. Kuykendall, Cashier and W. Bladen Lowndes, Vice President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1929 Type 2 $10 bank note with printed signatures of Charles E. Metz, Cashier and Tasker G. Lowndes, President.
1929 Type 2 $10 bank note with printed signatures of Charles E. Metz, Cashier and Tasker G. Lowndes, President. Courtesy of Heritage Auctions, www.ha.com

A total of $5,669,760 in National Bank Notes was issued by this bank between 1865 and 1935. This consisted of a total of 476,503 notes (376,604 large size and 99,899 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
Original Series 3x1-2 1 - 3000
Original Series 4x5 1 - 3750
Original Series 3x10-20 1 - 2600
Series 1875 3x10-20 1 - 2200
1882 Brown Back 3x10-20 1 - 12358
1902 Red Seal 3x10-20 1 - 3900
1902 Date Back 3x10-20 1 - 19400
1902 Plain Back 3x10-20 19401 - 66343
1929 Type 1 6x10 1 - 10994
1929 Type 1 6x20 1 - 2882
1929 Type 2 10 1 - 12863
1929 Type 2 20 1 - 3780

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1936):

Presidents:

Cashiers:

Other Bank Note Signers

Wiki Links

Sources

  • Cumberland, MD, 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://bbdata.banknotehistory.com
  • The Baltimore Sun., Sat., May 15, 1858.
  • The Baltimore Sun, Wed., Dec. 1, 1858.
  • The Daily Exchange, Baltimore, MD, Fri., Oct. 15, 1858.
  • Richmond Enquirer, Richmond, VA, Fri., Dec. 3, 1858.
  • The Daily Exchange, Baltimore, MD, Mon., Feb. 21, 1859.
  • Civilian and Telegraph, Cumberland, MD, Thu., Jan. 15, 1863.
  • Civilian and Telegraph, Cumberland, MD, Thu., Aug. 17, 1865.
  • Civilian Telegraph, Cumberland, MD, Thu., Nov. 9, 1865.
  • The Baltimore Sun, Baltimore, MD, Mon., Apr. 11, 1921.
  • The Baltimore Sun, Baltimore, MD, Sun., Oct. 24, 1926.
  • The Evening Sun, Baltimore, MD, Thu., July 10, 1952.
  • Cumberland Evening Times, Cumberland, MD, Thu., Dec. 6, 1962.
  • Cumberland Evening Times, Cumberland, MD, Mon., Feb. 18, 1963.
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