Second National Bank, Philadelphia, PA (Charter 213)
Second National Bank, Philadelphia, PA (Chartered 1864 - Open past 1935)
Town History
Philadelphia is located in Philadelphia County, in the southeast corner of Pennsylvania. It is currently the sixth-most-populous city in the United States and the most populous city in the state of Pennsylvania. It is also the second-most populous city in the Northeastern United States, behind New York City.
Frankford is a neighborhood in the Northeast section of Philadelphia situated about six miles northeast of Center City. Although its borders are vaguely defined, the neighborhood is bounded roughly by the original course of Frankford Creek on the south to Castor Avenue on the southwest, to Cheltenham Avenue on the north and to the Torresdale Avenue on the east. Adjacent neighborhoods are Bridesburg, Kensington, Juniata, Oxford Circle, Summerdale, and Wissinoming.
The village of Frankford was established by the Quakers in about 1682 in an area already occupied by Swedes and Germans. The land known as the Manor of Frank was purchased by the Society of Free Traders, a group of Quaker businessmen in England. The original settlers were Henry Waddy, Thomas Fairman, Robert Adam and Edward Seary. The village very likely took its name from the title of the Frankfurt Company, which took up ground there, along what is now known as Frankford Creek in the lower part of Oxford Township.
Frankford Creek's upper tributaries were the Tacony Creek and the Wingohocking Creek. Frankford was an early suburb of the town of Philadelphia. William Penn forged a trail through the village running from the original town (now Center City) to New York City, passing through Bucks County near the site of his home, Pennsbury Manor. That trail came to be known as "Frankford Pike" (later Frankford Avenue) and was the town's main street.
The village was incorporated into a borough on March 2, 1800, bounded by Leiper Street on the northwest, Little Tacony (or Tackawanna) Creek on the south and east, and Frankford Creek on the west. In 1854, the borough was annexed by the city of Philadelphia through the Act of Consolidation, 1854.
Philadelphia had 70 National Banks chartered during the Bank Note Era, and 62 of those banks issued National Bank Notes. Philadelphia also had 27 Obsolete Banks that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).
Bank History
- Chartered January 22, 1864
- Bank was Open past 1935
- Merged with Provident Tradesmens Bank & Trust Co. in 1964
In November 1863, $50,000 was subscribed by the citizens of Twenty-third Ward for the organization of the First National Bank of Frankford, and a meeting of the stockholders was held on the 20th for the election of nine directors, but the proceedings were stayed upon the receipt of the following telegram from Washington in answer to an inquiry on the subject: "If Frankford has been consolidated with the city of Philadelphia, and is subject to its municipal regulations, it is a part of the city, and the proposed bank must be one of the Philadelphia Banks with a capital of not less than one hundred thousand dollars." Signed Hugh McCulloch, Comptroller. Banks organizing in cities of over 10,000 were required to have at least $100,000 in capital. Measures for a reorganization were taken and the association would take the "Second National Bank of Philadelphia." Most shareholders increased their subscriptions, but about $25,000 remained to be taken.
On December 11, 1863, in Frankford, at a meeting of the stockholders of the Second National Bank of Philadelphia, the following named gentlemen were elected directors: Nathan Hilles, George W. Rhawn, Benjamin Rowland, Jr., Lewis Shallcross, Simon R. Snyder, Edward Hayes, John Milnes, Benjamin H. Deacon, and Charles E. Kremer. W.H. Rhawn was Secretary. The board met and unanimously elected Nathan Hilles, president, and Edward Hayes, Secretary pro tem.
On January 12, 1864, the same board of directors was re-elected with the exception of John Cooper who replaced John Milnes. Nathan Hilles was unanimously re-elected president and Albert S. Letchworth, solicitor. W.H. Rhawn was cashier. The Second National Bank of Philadelphia, opened at No. 134 Main Street, Frankford, on February 1st with capital of $100,000 and the privilege of increasing same to $500,000.
On January 9, 1866, the stockholders elected the following directors: Nathan Hilles, George W. Rhawn, Benjamin Rowland, Jr., Edward Hayes, Benjamin H. Deacon, Lewis Shallcross, Charles E. Kremer, John Cooper and William Ervien. Nathan Hilles was unanimously re-elected president and William H. Rhawn was cashier. In May 1866, The Central National Bank announced that Mr. Alexander Ervin, Jr., the former Cashier, was elected Vice President for this bank, and Mr. William H. Rhawn, late Cashier of the Second National Bank of Phliadelphia, had been elected Cashier. Mr. G.M. Troutman would continue as the President. Mr. Rhawn's experience had been of signal service in building up a highly successful monetary institution, and one which he leaves with the best wishes of his former associates for his future success. He was succeeded in the Franktord National Bank by Mr. Shelmerdine, a son of Dr. R.C. Shelmerdine of Philadelphia. Previously, he was in the private banking house of Messrs. Alex. Benson & Co., Third Street.
On January 12, 1886, at the annual election of Directors, the following gentlemen were elected to serve the ensuing year: Benjamin Rowland, Wm. H. Shelmerdine, Benj. H. Deacon, M.D., William Bault, George W. Rhawn, Watson Bavington, John H. Webster, Amos C. Shallcross, and David C. Nimlet. At a meeting of the Directors held on the 13th, Benjamin Rowland was unanimously re-elected President. Charles W. Lee was cashier.
The death of Nathan Hilles which happened the morning of July 9, 1887, at his residence 5009 Penn Street, Frankford, closed a remarkable and eventful career. Born in Frankford in 1816 of Quaker parentage, Mr. Hilles acquired an education in the Friends' schools and subsequently at a boarding school in Chester County. In 1838 he entered into a partnership with his father in the tanning, wood and coal business. In 1814 he was elected a member of the Borough Council and after the consolidation was elected to the Select Council. In 1860 he was a Presidential elector from the Fifth Congressional district, and in 1864 was a delegate to the Baltimore Convention which nominated Lincoln and Johnson. He was for a number of years a member of the School Board of his section and served as a Guardian of the Poor, a member of the Board of Education and other important positions. He was one of the organizers of the Second National Bank of Frankford and was its president for a number of years after its opening in February 1864. He was also one of the pioneers of the Frankford and Southwark Passenger Railway. By election of Select Council, he was a Trustee of the Philadelphia Gas Works from January 25, 1865, until May 1879, when he was compelled by his breach of private trusts to resign. In August, 1873, the announcement was made that he was on the verge of bankruptcy, and that in addition to liabilities estimated at $300,000, he had appropriated private trust funds committed to his care. He was the executor of the estate of Charles Bolton of Frankford, and his account came before Judge Ashman for adjudication in the Orphans' Court on November 27, 1878, when he was unable to deliver $20,302.73 in securities coming to Joseph P. Bolton. An order was afterwards made on him to pay the money, and failing to comply with it, he was committed for contempt of Court on the April 2, 1879. He was imprisoned for over a year, gaining his discharge on April 17, 1880, as a bankrupt. Judge Penrose filed a dissenting opinion, holding that Hilles ought not to be discharged and that he could have his remedy under the act of 1836. He was tried in the Quarter Sessions Court before Judge Biddle on December 12, 1879, charged with embezzlement. He pleaded the statute of limitations, but Judge Biddle allowed the case to go to the jury, who found him guilty, but a new trial was granted on January 3, 1880, and took place before Judge Briggs on March 2nd of the same year. He was again found guilty and a new trial was again granted on the 2d of April. On April 17, pending the new trial, Mr. Hilles appeared before the Orphans' Court and swore that he had no property out of which he could make payment as ordered. He was then purged of contempt and discharged.
On January 10, 1899, the stockholders elected the following directors: Benjamin Rowland, George W. Rhawn, Watson Bavington, William Bault, David C. Nimlet, Amos C. Shallcross, Samuel W. Evans, Jr., Franklin Smedley, and Charles W. Lee. The Directors on the 11th unanimously re-elected Benjamin Rowland, president. Charles W. Lee was the cashier.
In February 1964, stockholders of the Second National Bank approved the proposed merger of the bank with Provident Tradesmens Bank & Trust Co. The merger was previously approved by Provident Tradesmens stockholders, subject to approval by Federal and State regulators.
On Thursday, November 12, 1964, the former Provident Tradesmens Bank and Trust Co. of Philadelphia became the Provident National Bank. The bank had 30 offices throughout Philadelphia, Delaware, Bucks and Montgomery Counties. Total resources as of November 6 were $687,887,439 with total capital funds of $70,891,972. Assets held in accounts of the bank's trust division were approximately $2 billion. In 1847, the Tradesmens Bank of Philadelphia opened its doors.
Read more: https://www.referenceforbusiness.com/history2/29/PNC-Bank-Corp.html#ixzz7lg9p1RgC
Official Bank Title(s)
1: The Second National Bank of Philadelphia, PA
Bank Note Types Issued
A total of $5,195,810 in National Bank Notes was issued by this bank between 1864 and 1935. This consisted of a total of 686,285 notes (614,824 large size and 71,461 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments Original Series 4x5 1 - 8000 Original Series 4x10 1 - 8250 Series 1875 4x5 1 - 8500 Series 1875 4x10 1 - 4583 1882 Brown Back 4x5 1 - 14700 1882 Brown Back 3x10-20 1 - 7780 1902 Red Seal 4x5 1 - 8250 1902 Red Seal 4x10 1 - 2000 1902 Red Seal 3x10-20 1 - 3800 1902 Date Back 4x5 1 - 21000 1902 Date Back 4x10 1 - 19000 1902 Plain Back 4x5 21001 - 47546 1902 Plain Back 4x10 19001 - 34168 1902 Plain Back 3x10-20 1 - 6129 1929 Type 1 6x5 1 - 5990 1929 Type 1 6x10 1 - 3294 1929 Type 1 6x20 1 - 910 1929 Type 2 10 1 - 8208 1929 Type 2 20 1 - 2089
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1864 - 1936):
Presidents:
- Nathan Hilles, 1864-1876
- Benjamin Rowland, (Jr.), 1877-1910
- Charles W. Lee, 1911-1913
- Franklin Smedley, 1914-1918
- John E. Gossling, 1919-1935
Cashiers:
- William Henry Rhawn, 1864-1865
- William Henry Shelmerdine, 1866-1867
- John S. Brown, 1868-1872
- James Anderson, 1873-1879
- Charles W. Lee, 1880-1910
- John E. Gossling, 1911-1918
- Frank Adshead, 1919-1935
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 Philadelphia (Wikipedia)
- General information on Philadelphia County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Philadelphia, PA, Wikipedia, https://en.wikipedia.org/wiki/Philadelphia,_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
- The Philadelphia Inquirer, Philadelphia, PA, Tue., Nov. 24, 1863.
- The Philadelphia Inquirer, Philadelphia, PA, Tue., Dec. 15, 1863.
- The Philadelphia Inquirer, Philadelphia, PA, Tue., Jan. 26, 1864.
- The Philadelphia Inquirer, Philadelphia, PA, Wed., Feb 3, 1864.
- The Philadelphia Inquirer, Philadelphia, PA, Sat., Jan. 13, 1866.
- The Philadelphia Inquirer, Philadelphia, PA, Sat., May 1, 1866.
- The Philadelphia Inquirer, Philadelphia, PA, Sat., Jan. 16, 1886.
- The Philadelphia Times, Philadelphia, PA, Sun., July 10, 1887.
- The Philadelphia Inquirer, Philadelphia, PA, Fri., Jan. 13, 1899.
- The Philadelphia Inquirer, Philadelphia, PA, Wed., Feb. 12, 1964.
- The Philadelphia Inquirer, Philadelphia, PA, Thu., Nov. 12, 1964.