Second National Bank, Malden, MA (Charter 11014)
Second National Bank, Malden, MA (Chartered 1917 - Open past 1935)
Town History
Malden is a city in Middlesex County, Massachusetts. At the time of the 2020 U.S. Census, the population was 66,263 people.
Malden is a hilly woodland area north of the Mystic River that was settled by Puritans in 1640 on land purchased in 1629 from the Pennacook tribe, with a further grant in 1639 by the Squaw Sachem of Mistick and her husband Webcowet. The area was originally called the "Mistick Side" and was a part of Charlestown. It was incorporated as a separate town in 1649 under the name "Mauldon". The name Malden was selected by Joseph Hills, an early settler and landholder, and was named after Maldon, England. The city originally included the adjacent cities of Melrose (until 1850) and Everett (until 1870).
Malden had two National Banks chartered during the Bank Note Era, The First National Bank (Charter 588) and The Second National Bank (Charter 11014), and both of those banks issued National Bank Notes.
Bank History
- Organized May 17, 1917
- Chartered June 22, 1917
- Bank was Open past 1935
William T. Halliday, former assistant treasurer of the Newton Trust Co. of Newton, Massachusetts, was made treasurer of the Hadley Falls Trust Co. after its formation in January 1917 through the merger of the Hadley Falls National Bank and the Home National Bank of Holyoke.[1] Mr. Halliday resigned August 1st, 1917 to take a position in the Second National Bank of Malden.[2] After three years, he resigned as cashier to take on the duties as treasurer and return to the Newton Trust Company, starting there on October 1st, 1920. The trust company had increased its capital from $400,000 to $600,000 and its surplus to the same amount and planned to erect two new buildings. Frank L. Richardson, the out-going treasurer, become a vice president and Seward Jones was president of the Newton Trust Co.[3]
On November 21, 1935, announcement was made of a meeting to approve the merger of three suburban banks. The merger involved the Lechmere National Bank of Cambridge, the Everett National Bank and Trust Company, and the Second National Bank of Malden to form a new institution known as the Middlesex County National Bank. The combined assets would be $10,500,000, making it the largest north of Boston. The three banks were affiliates of the Old Colony Trust Associates.[4]
In January 1936, at a meeting of directors at the University Club, Frederick E. Jennings was elected president and chairman of the board of directors of the newly organized Middlesex County National Bank. The new bank absorbed the Everett Bank and Trust Company of which Mr. Jennings was an officer; the Lechmere National Bank of Cambridge; and the Second National Bank of Malden. Edward J. Fudge of the Lechmere National Bank was elected vice chairman of the board of directors. John C. Vining of the Everett bank was executive vice president and F.X. Buebendorf of the Lechmere bank was vice president. Harold G. Carlson, formerly connected with the First National Bank of Boston was elected assistant vice president and Frank J. Cronin of the Everett bank was made cashier. Wallace C. Robbins of the Everett bank, Eugene C. Hussey, Jr., formerly of the First National Bank of Boston, Hazen S. Claflin of the Malden Bank, Daniel W. Rideout of the Everett bank and Edward W. Fudge of the Lechmere Bank were selected as assistant cashiers. Roland S. Decker of the Lechmere bank became auditor and F. Winchester Denio, an officer of the First National Bank of Boston, was elected counsel. The consolidation of the three banks was made possible by a change in the Federal laws in 1933 and in the state laws in 1934 enabling banks in Massachusetts to consolidate and operate in the county in which they were located. Banking quarters would be maintained in Cambridge, Everett and Malden. The new bank was a member of the Old colony Trust Associates.[5]
On Tuesday, January 11, 1949, Oliver T. Bergstrom was elected president of the Middlesex County National Bank. Frederick E. Jennings who had been serving since 1936 in the dual capacity of president and chairman of the board was re-elected chairman. Edward J. Fudge was re-elected vice chairman.[6] Middlesex County National Bank operated offices in Billerica, Cambridge, Everett, Lowell, Malden, Maynard, Reading, Somerville, and Stoneham.[7]
On December 2, 1954, Arthur P. Hardy, 81, retired Malden banker, died at the Brooks Convalescent Home in Marblehead. He was the first president and one of the founders of the Second National Bank of Malden, then part of the Middlesex County National Bank chain. He was a former member of the Malden Common Council, trustee of the Malden Savings Bank, and senior member of the law firm of Hardy, Hall and Iddings of Boston. He retired in 1951.[8]
Official Bank Title
1: The Second National Bank of Malden, MA
Bank Note Types Issued
A total of $1,269,770 in National Bank Notes was issued by this bank between 1917 and 1935. This consisted of a total of 189,676 notes (No large size and 189,676 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1929 Type 1 6x5 1 - 18004 1929 Type 1 6x10 1 - 9308 1929 Type 2 5 1 - 17374 1929 Type 2 10 1 - 8430
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1917 - 1935):
Presidents:
Cashiers:
- William Train Halliday, 1918-1920
- Philip Lyman Wheeler, 1921-1926
- Charles W. Phinney, 1927-1933
- Hazen S. Claflin, 1934-1935
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Malden, MA, 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
- ↑ Transcript-Telegram, Holyoke, MA, Wed., Mar. 28, 1917.
- ↑ The Republican, Springfield, MA, Thu., Nov. 8, 1917.
- ↑ The Boston Globe, Boston, MA, Sat., Sep 11, 1920.
- ↑ The Republican, Springfield, MA, Fri., Nov. 22, 1935.
- ↑ The Boston Globe, Boston, MA, Fri., Jan. 3, 1936.
- ↑ The Boston Globe, Boston, MA, Wed., Jan. 12, 1949.
- ↑ The Boston Globe, Boston, MA, Tue., Sep. 26, 1950.
- ↑ The Boston Globe, Boston, MA, Fri., Dec. 3, 1954.