Security National Bank, Dallas, TX (Charter 10564)
Security National Bank, Dallas, TX (Chartered 1914 - Liquidated 1921)
Town History
Dallas is the most populous city in the Dallas–Fort Worth metroplex, the fourth-largest metropolitan area in the United States at 7.5 million people. It is the largest city in and seat of Dallas County in the U.S. state of Texas with portions extending into Collin, Denton, Kaufman and Rockwall counties. With a 2020 census population of 1,304,379, it is the ninth most-populous city in the U.S. and the third-largest in Texas after Houston and San Antonio. In 1880 the population was 10,358, increasing to 269,475 by 1930.
Located in the North Texas region, the city of Dallas is the main core of the largest metropolitan area in the southern United States and the largest inland metropolitan area in the U.S. that lacks any navigable link to the sea. The cities of Dallas and nearby Fort Worth were initially developed due to the construction of major railroad lines through the area allowing access to cotton, cattle and later oil in North and East Texas. The construction of the Interstate Highway System reinforced Dallas's prominence as a transportation hub, with four major interstate highways converging in the city and a fifth interstate loop around it. Dallas then developed as a strong industrial and financial center and a major inland port, due to the convergence of major railroad lines, interstate highways and the construction of Dallas/Fort Worth International Airport, one of the largest and busiest airports in the world.
Dallas had 28 National Banks chartered during the Bank Note Era, and 27 of those banks issued National Bank Notes.
Bank History
- Organized June 11, 1914
- Chartered June 19, 1914
- Succeeded The Commonwealth National Bank of Dallas, and The Guaranty State Bank and Trust Co., of Dallas, TX
- Assumed 8664 by consolidation Jul 2, 1914 (Commonwealth National Bank, Dallas, TX) and assumed its circulation
- Acquired Smith, Womack & Smith, private bankers in December 1915
- Liquidated October 6, 1921
- Absorbed by 11996 (Southwest National Bank, Dallas, TX)
- Circulation assumed by 11996 (Southwest National Bank, Dallas, TX)
In June 1909, it was reported the first State bank to be organized with the name of "Guaranty" attached would probably come from Dallas. D.E. Waggoner was organizing a new bank with capitalization of $400,000.[3] On September 25, 1909, commissioner of insurance and banking Love appointed C.W. Foster of San Antonio, State bank examiner, to fill the vacancy created by the resignation of Edwin Hobby who would become the cashier of the newly organized Guaranty State Bank and Trust Company of Dallas. Mr. Foster had eight years' active banking experience and formerly was cashier of the Segin State Bank.[4] On Monday, October 1, 1909, the Guaranty State Bank and Trust Company began business. Its officers were composed of experience bankers who were very strong in Dallas financial circles. D.E. Waggoner, active vice president of the Gaston National Bank during its existence, was president of the new bank and M.H. Wolfe, one of the leading cotton merchants was vice president. Among the directors were J.D. Aldredge, S.J. McFarland, and R.L. Cameron of Dallas; J.W. Haden of Bonham; J.S. rice and John H. Kirby of Houston; and H.T. Douglas of Shawnee, Oklahoma. The cashier, Edwin Hobby, was a son of the late Judge Edwin Hobby of the court of appeals and was raised in Houston where the family lived. Before his appointment as bank examiner, he was employed with the Houston National Bank, the Gaston National Bank at Dallas, and the Stock Yards National Bank at Fort Worth.[5] Deposits on the first day were nearly $810,000.[6] An amendment to its charter was filed to increase its capital stock from $150,000 to $400,000.[7]
On September 1, 1909, the guaranty plan was first inaugurated in Texas with 541 state banks participating with a fund of $431,534. The last report of W.W. Collier, Commissioner of Banking and Insurance for the State of Texas, showed $778,824 in the guaranty fund of which $194,720 was with the State Treasurer and $584,104 was a demand deposit with the banks participating. The fund increased $199,507 during 1913 and the fund was not touched despite three state banks closing that year. There were 679 State banks participating in 1912 and 759 in 1913.[8]
On June 2, 1914, the liquidation of the Guaranty State Bank of Dallas and the Commonwealth National Bank of Dallas was approved by W.W. Collier, commissioner of insurance and banking. The new bank, the Security National Bank, would operate with capital of $1,500,000, and a surplus fund of $500,000. The deposits were approximately $7,000,000. The liquidation of these banks would make necessary a refund from the guaranty fund of the state. The officers were D.E. Waggoner, president; S.J. McFarland, vice president; and Edwin Hobby, cashier.[9] D.E. Waggoner was president of the Guaranty State Bank.[10]
In January 1915, Security National Bank requested the National Currency Association of Dallas to retire $800,000 of emergency currency issued to the bank. This was taken as a very favorable sign of the return of normal business conditions.[11] In May 1915, the directors were J.W. Haden, capitalist, Bonham, Texas; Eugene H. Crowdus, investments; J.D. Aldredge, real estate; T.L. Camp of Camp & Camp, lawyers; S.J. McFarland, active vice president, W.R. McEntire, land and cattle; D.E. Waggoner, president; J.B. Lucas, of the Southland Hotel; R.B. Stichter, general manager, Texas Traction Co.; Elihu A. Sanger, of Sanger Brothers, dry goods; M.H. Wolfe, M.H. Wolfe & Co., cotton; W.H. Gaston, vice president; A.G. McAdams, A.G. McAdams Lumber Co.; R.E.L. Saner, of Saner & Saner, Lawyers; J.W. Ogburn, Ogburn-Cooper Lumber Co.; W.T. Henry of Leake & Henry, attorneys; J.B. Dale of Briggs-Weaver Machinery Co.; R.L. Cameron, Cameron Auto Co.; C.L. Tarver of Tarver, Steele & Co., cotton; Edwin Hobby, cashier, formerly state bank examiner; H.Z. Duke, Duke & Ayres, Nickel Stores; Clarence Linz, vice president, Dallas Automatic Tel. Co.; J.A. Barnard, capitalist; F.T. Rembert, capitalist, Longview, Texas; J.L. Long, Practical Drawing Co.; C.C. Slaughter, secretary, C.C. Slaughter Cattle Co.; A.T. Lloyd, president, Lloyd Advertising Co.; P.P. Martinez, wholesale tobacconist. The officers were D.E. Waggoner, president; R.B. Stichter, M.H. Wolfe, and W.H. Gaston, vice presidents; S.J. McFarland, active vice president; Edwin Hobby, cashier; D.D. Rogers, J.W. Royall, O.W. Shaw, and M.B. Keith, assistant cashiers. As of May 1, 1915, the bank reported total resources of $11,519,767.65 with capital $1,500,000, surplus and undivided profits $540,843.46, circulation $1,499,950.00 and deposits $7,976,392.19.[12]
On December 8, 1915, The Security National Bank assumed the deposits of the private banking institution of Smith, Womack & Smith which was retiring from the banking business according to an announcement by J.P. Smith. M.C. Lund, formerly cashier for Smith, Womack & Smith was now at the Security National Bank to look after the interests of about 500 depositors of the private bank. This brought to nearly 16,000 individual depositors with the Security National. Mr. Smith was vice president of the Citizens State Bank and Trust Company which merged with the First State Bank effective this day.[13]
On Monday, March 14, 1921, John T.M. Johnston of St. Louis was elected president of the Security National Bank of Dallas by the board of directors. He succeeded D.E. Waggoner who resigned to attend to other business interests, but would continue as a member of the board. Mr. Johnston would move to Dallas immediately. R.P. Titus, president of the Liberty Central Trust Company of St. Louis was elected an active vice president of the Security National, and S.W. Sibley of Dallas was elected a member of the board. Other officers remained the same.[14] S.W. Sibley was a well-known Collin County banker. He was president of the First State Bank of Wylie and the First State Bank of Murphy. He was a director in the Wichita Falls & Southern Railway and for the past few years had been associated with Frank Kell of Wichita Falls, a director in the Federal Reserve Bank of Dallas.[15] In May, hundreds of people jammed the streets around the Security National Bank when rumors spread that the bank's finances were endangered. Crowds began to disperse when banks comprising the Dallas Clearing House Association and the Eleventh District Federal Reserve Bank issued a statement of confidence in the institution.[16]
In March 1921, the officers were John T.M. Johnston, president; Edwin Hobby, vice president and cashier; Dan D. Rogers, S.J. McFarland, R.P. Titus, S.W. Sibley, J.W. Royall, W.F. Skillman, George W. Riddle, active vice presidents; M.H. Wolfe, W.T. Henry, W.H. Gaston, A. Ragland, and Cullen F. Thomas, in-active vice presidents; W.H. Leftwich, Frank Ayres, J.W. Massie, L.C. Wright, A.H. Estes, Phelps Terry, assistant cashiers; J.A. Sanders, auditor; and W.H. Painter, manager, publicity department.[17] On Monday, June 20, 1921, R.W. Higgenbotham, local wholesale merchant of the Higginbotham Bros. & Co.'s stores and capitalist was elected president of the Security National Bank at a special meeting of the directors which lasted until 1 A.M. Dr. John T.M. Johnston was made chairman of the executive board and would continue active affiliation with the bank. Higgenbotham purchased a large block of stock in the bank and was made president. It was also announced that the bank had leased four floors of the new Magnolia skyscraper in the heart of the business district and had added $1,500,000 to the capital stock.[18] The lease gave the bank the basement and the first two floors of the Magnolia building at an annual rental of $74,000 for 25 years. The bank would have 25,000 square feet of space.[19]
On Monday, March 14, 1921, John T.M. Johnston of St. Louis was elected president of the Security National Bank of Dallas by the board of directors. He succeeded D.E. Waggoner who resigned to attend to other business interests, but would continue as a member of the board. Mr. Johnston would move to Dallas immediately. R.P. Titus, president of the Liberty Central Trust Company of St. Louis was elected an active vice president of the Security National, and S.W. Sibley of Dallas was elected a member of the board. Other officers remained the same.[20] S.W. Sibley was a well-known Collin County banker. He was president of the First State Bank of Wylie and the First State Bank of Murphy. He was a director in the Wichita Falls & Southern Railway and for the past few years had been associated with Frank Kell of Wichita Falls, a director in the Federal Reserve Bank of Dallas.[21] In May, hundreds of people jammed the streets around the Security National Bank when rumors spread that the bank's finances were endangered. Crowds began to disperse when banks comprising the Dallas Clearing House Association and the Eleventh District Federal Reserve Bank issued a statement of confidence in the institution.[22] In July, Lynn P. Talley was elected first vice president of the Security National Bank. Mr. Talley had been for the past six years deputy governor of the Federal Reserve Bank at Dallas.[23]
The Security National Bank of Dallas would become the Southwest National Bank. A charter for the bank with the new name had been approved on July 18, 1921. The capital stock was $2,000,000. R.W. Higginbotham was president and Sam R. Lawder, cashier. The bank would occupy quarters in the Magnolia building in 1922 (See the Magnolia Hotel for a history of the building).[24]
Official Bank Title(s)
1: The Security National Bank of Dallas, TX
Bank Note Types Issued
A total of $9,576,050 in National Bank Notes was issued by this bank between 1914 and 1921. This consisted of a total of 1,189,588 notes (1,189,588 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 1902 Date Back 4x5 1 - 37500 1902 Date Back 3x10-20 1 - 30000 1902 Plain Back 4x5 37501 - 176460 1902 Plain Back 3x10-20 30001 - 120937
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1914 - 1921):
Presidents:
Cashiers:
Other Known Bank Note Signers
- Capt. William Henry Gaston, Vice President 1915...1921 NOTE: a featured biography is available
- Samuel Jackson McFarland, Vice President 1921
Bank Note History Links
Sources
- Dallas, TX, 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
- ↑ Fort Worth Record-Telegram, Fort Worth, TX, Sun., Feb. 29, 1920.
- ↑ Fort Worth Record-Telegram, Fort Worth, TX, Sun., Feb. 29, 1920.
- ↑ The Houston Post, Houston, TX, Thu., June 17, 1909.
- ↑ The Houston Post, Houston, TX, Sun., Sep. 26, 1909.
- ↑ The Houston Post, Houston, TX, Sun., Sep. 12, 1909.
- ↑ The Marshall Messenger, Marshall, TX, Fri., Oct. 8, 1909.
- ↑ The Houston Post, Houston, TX, Tue., Oct. 19, 1909.
- ↑ The Bankers' Magazine, Vol. 88, Jan. 1914 - June 1914, p. 285.
- ↑ The Houston Post, Houston, TX, Wed., June 3, 1914.
- ↑ Fort Worth Star-Telegram, Thu., Jan. 15, 1914.
- ↑ The Houston Post, Houston, TX, Sun., Jan. 24, 1915.
- ↑ The Waco News-Tribune, Waco, TX, Wed., May 19, 1915.
- ↑ The Houston Post, Houston, TX, Thu., Dec. 9, 1915.
- ↑ Fort Worth Star-Telegram, Fort Worth, TX, Tue. Mar. 15, 1921.
- ↑ The Courier-Gazette, McKinney, TX, Wed., Mar. 16, 1921.
- ↑ The Bryan Weekly Eagle, Bryan, TX, Thu., May 12, 1921.
- ↑ Fort Worth Record-Telegram, Fort Worth, TX, Sun., Mar. 27, 1921.
- ↑ The Houston Post, Houston, TX, Tue., June 21, 1921.
- ↑ The Houston Post, Houston, TX, Thu., June 23, 1921.
- ↑ Fort Worth Star-Telegram, Fort Worth, TX, Tue. Mar. 15, 1921.
- ↑ The Courier-Gazette, McKinney, TX, Wed., Mar. 16, 1921.
- ↑ The Bryan Weekly Eagle, Bryan, TX, Thu., May 12, 1921.
- ↑ The Brownsville Herald, Brownsville, TX, Sat., July 2, 1921.
- ↑ Fort Worth Star-Telegram, Fort Worth, TX, Tue., July 19, 1921.