Second National Bank, Toledo, OH (Charter 248)
Second National Bank, Toledo, OH (Chartered 1864 - Liquidated 1924)
Town History
Toledo is a city in and the county seat of Lucas County, Ohio. A major Midwestern United States port city, Toledo is the fourth-most populous city in the state of Ohio, after Columbus, Cleveland, and Cincinnati, and according to the 2020 census, the 79th-largest city in the United States. With a population of 270,871 it is the principal city of the Toledo metropolitan area. It also serves as a major trade center for the Midwest; its port is the fifth busiest on the Great Lakes and 54th biggest in the United States. The city was founded in 1833 on the west bank of the Maumee River, and originally incorporated as part of Monroe County, Michigan Territory. It was re-founded in 1837, after the conclusion of the Toledo War, when it was incorporated in Ohio.
After the 1845 completion of the Miami and Erie Canal, Toledo grew quickly; it also benefited from its position on the railway line between New York City and Chicago. The first of many glass manufacturers arrived in the 1880s, eventually earning Toledo its nickname: "The Glass City." It has since become a city with a distinctive and growing art community, auto assembly businesses, education, thriving healthcare, and well-supported local sports teams. Downtown Toledo has been subject to major revitalization efforts, allowing a bustling entertainment district.
Toledo had 10 National Banks chartered during the Bank Note Era, and nine of those banks issued National Bank Notes. Toledo also had three Obsolete Banks that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).
Bank History
- Chartered February 11, 1864
- Succeeded Marine Bank
- Absorbed 1895 April 30, 1907 (Merchants National Bank, Toledo, OH)
- Liquidated September 30, 1924
- Absorbed by Toledo Trust Company
The Marine Bank was one of the last free banks to be organized in the state, having been organized in 1860. Formerly known as E. Parmelee & Co., the Marine Bank was absorbed by the Second National Bank of Toledo in 1864. The Marine Bank's last notes were issued in June 1864.
In August 1860, the Toledo Times announced that Parmelee & Co.'s Bank in that city would issue its notes as soon as arrangements could be effected under the general banking law. It would be called the Marine Bank of Toledo.[1] The Marine Bank of Toledo went into operation in September 1860 with E. Parmelee, president and J.H. Hitchcock, acting cashier. The capital was $100,000 and the place of business was the banking office of E. Parmelee & Co.[2]
In October 1886, Col. Lemert sold his fine four-year-old trotting filly, Eliza Jane, for $1,300. The horse was sired by the famous trotter, Abdalla West. The purchaser was Geo. W. Davis of the Second National Bank of Toledo.[3]
On Sunday morning, June 30, 1907, after a lingering illness, Edwin Jackson, president of the Second National Bank, died at the family residence on Scottwood Avenue in Toledo. He was born in Cooperstown, New York, and came to Toledo in 1860.[4] Mr. Jackson was unable to assume his duties as president of the Second National Bank which was merged with the Merchants National shortly before he was taken ill. In 1870 Mr. Jackson engaged with Hermann Bros. in wholesale millinery business. In 1890 Mr. Jackson returned to Toledo and became a partner in the wholesale grocery firm of Berdan & Co. from which he retired in 1897. In 1897 he accepted the position of cashier with the Merchants National Bank, later becoming vice president and then president.
On Thursday, August 7, 1924, an announcement was made of the merger of the Second National Bank with the Toledo Trust Company. Having been considered for several weeks by the officers and executive committees of the two bank, the directors of both approved the plan on Wednesday afternoon. The proposal would be submitted to stockholders of each bank at special meetings called for September 15th. Under the plan the Toledo Trust Co. would increase its capital from $3,000,000 to $5,000,000 and the additional 20,000 shares would be distribute to holders of Second National Bank stock at a ration of two for one. In addition to the two shares of Toledo Trust Co. stock, each shareholder of the Second National would receive $100/share cash. The Toledo Trust Co. after October when the plan would be effective if approved would have capital of $5,000,000, surplus $3,000,000, and undivided profits of $750,000. The Toledo Trust Co. had deposits of $14,967,000 and total resources of $21,020,000, while the Second National Bank had deposits of more than $10,000,000 with total resources of $15,300,000.[5]
The largest transaction authorized by the Ohio banking department during 1924 was the absorption by the Toledo Trust Company of the Northern National Bank and Second National Bank of that city. The combined assets of the two national banks approximated $35,000,000.[6]
KeyBank is the primary subsidiary of KeyCorp, which was formed in 1994 through the merger of Society Corporation of Cleveland, Ohio ("Society Bank") and KeyCorp ("Old KeyCorp") of Albany, New York. The merger briefly made Key the 10th largest US bank. Its roots trace back to the Commercial Bank of Albany in 1825 and Cleveland's Society for Savings, founded in 1849. Society Corporation acquired Toledo, Ohio-based Trustcorp in 1990 (Formerly the Toledo Trust Company) and holding company AmeriTrust Corporation in September 1991.
Official Bank Title
1: The Second National Bank of Toledo, OH
Bank Note Types Issued
A total of $11,930,110 in National Bank Notes was issued by this bank between 1864 and 1924. This consisted of a total of 1,230,692 notes (1,230,692 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 Original Series 3x1-2 1 - 12310 Original Series 4x5 1 - 10150 Original Series 4x10 1 - 6525 Original Series 3x20-50 1 - 2100 Series 1875 4x5 1 - 693 Series 1875 4x10 1 - 651 Series 1875 3x20-50 1 - 936 1882 Brown Back 4x5 1 - 3000 1882 Brown Back 3x10-20 1 - 18950 1902 Red Seal 3x10-20 1 - 32500 1902 Date Back 4x5 1 - 35000 1902 Date Back 3x10-20 1 - 67000 1902 Plain Back 4x5 35001 - 86490 1902 Plain Back 3x10-20 67001 - 133368
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1864 - 1924):
Presidents:
- George W. Davis, 1864-1903
- Charles F. Adams, 1904-1906
- Edwin Jackson, 1907-1907
- Morrison Waite Young, 1908-1924
Cashiers:
- Nehemiah Waterman, 1864-1872
- Charles F. Adams, 1873-1903
- William Clifton Carr, 1905-1913
- Charles Walter Cole, 1914-1924
Other Known Bank Note Signers
- Truman Woodman "True" Childs (VP 1906...1916)
- Francis J. King (VP 1872)
- Theodore Casey Stevens (VP 1908...1910)
Bank Note History Links
Sources
- Toledo, OH, 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
- ↑ The Weekly National Democrat, Cleveland, OH, Fri., Aug. 31, 1860.
- ↑ The Evening Post, Cleveland, OH, Fri., Sep. 7, 1860.
- ↑ Crawford County News, Bucyrus, OH, Thu., Oct. 21, 1886.
- ↑ Battle Creek Enquirer, Battle Creek, MI, Tue., July 2, 1907.
- ↑ The Cincinnati Enquirer, Cincinnati, OH, Fri., Aug. 8, 1924.
- ↑ The Daily News-Tribune, Greenville, OH, Fri., Jan. 9, 1925.