Shenandoah Valley NB, Winchester, VA (Charter 1635)
Shenandoah Valley NB, Winchester, VA (Chartered 1866 - Open past 1935)
Town History
Winchester is the northwesternmost independent city in the Commonwealth of Virginia. It is the county seat of Frederick County, although the two are separate jurisdictions. As of the 2020 census, the city's population was 28,120. Winchester is home to Shenandoah University and the Museum of the Shenandoah Valley.
Winchester was a key strategic position for the Confederate States Army during the war. It was an important operational objective in Gen Joseph E. Johnston's and Col Thomas J. "Stonewall" Jackson's defense of the Shenandoah Valley in 1861, Jackson's Valley Campaign of 1862, the Gettysburg Campaign of 1863, and the Valley Campaigns of 1864. Including minor cavalry raids and patrols, and occasional reconnaissances, historians claim that Winchester changed hands as many as 72 times and 13 times in one day. Battles raged along Main Street at points in the war. Union General Sheridan and Stonewall Jackson located their headquarters just one block apart at times.
At the north end of the lower Shenandoah Valley, Winchester was a base of operations for major Confederate invasions into the Northern United States. At times the attacks threatened the capital of Washington, D.C. The town served as a central point for troops conducting major raids against the Baltimore and Ohio Railroad, Chesapeake and Ohio Canal, and turnpike and telegraph paths along those routes and the Potomac River Valley. For instance, in 1861, Stonewall Jackson removed 56 locomotives and over 300 railroad cars, along with miles of track, from the B&O Railroad. His attack closed down the B&O's main line for ten months. Much of the effort to transport this equipment by horse and carriage centered in Winchester.
Winchester is located between the Blue Ridge Mountains and the Allegheny Mountains, and is 15 miles north-northeast of the northern peak of Massanutten Mountain. I-81 passes through the city, along with US 50, US 522, US 17, which ends in the city, and SR 7, which also ends in the city. The city is approximately 75 miles to the west of Washington, D.C., 24 miles south of Martinsburg, West Virginia, 25 miles north of Front Royal, 118 miles south of Harrisburg, Pennsylvania, and 180 miles north of Roanoke.
Winchester had two National Banks chartered during the Bank Note Era, the Farmers and Merchants National Bank (Charter 6084) and the Shenandoah Valley National Bank (Charter 1635), and both of those banks issued National Bank Notes.
Bank History
- Organized November 25, 1865
- Chartered February 17, 1866
- Succeeded Bank of the Valley
- Bank was Open past 1935
Bank of the Valley
On November 1, 1817, the commissioners appointed by the last legislature of Virginia opened the books of subscription for stock of the Bank of the Valley in Winchester. The books were opened in the banking room of the Bank of Winchester for 10 days. The capital stock was divided into shares of $100 made payable in five $20 installments. The commissioners were David Ridgway, William Davison, John Mackey, Thomas Cramer, Daniel Overaker, Simon Carson, Jared Williams, Alfred H. Powell, Robert B. White, Joseph Tidball, Edward McGuire, Daniel Gold, Lewis Hoff, John Bell, and Joseph Sexton.[1]
On Wednesday, January 21, 1818, the stockholders of the Bank of the Valley assembled at the courthouse in Winchester. The meeting was organized by calling the honorable Dabney Carr as chair and appointing Thomas A. Tidball, Esq., secretary. Election of directors was postponed until the next day. On Thursday the stockholders elected Chas. Magill, Edward McGuire, John Bell, Thomas Cramer, Obediah Waite and Lewis Wolfe, Esquires, directors by a large majority. William Steenbergen of Shenandoah, David Humphreys, Esq., of Charlestown and Col. Augustine C. Smith of Alexandria were appointed directors on the part of the Commonwealth.[2] It was also resolved that offices of discount and deposit be located at Leesburg and Romney. The subject of locating the branch in Berkeley or Jefferson County was postponed until the following Thursday. After an interesting and animated debate among different gentlemen from Martinsburg, Shepherdstown and Charlestown, it was determined to located the center branch at Charlestown. The following gentlemen were unanimously elected directors of the offices of discount and deposit:[3]
| Romney | Leesburg | Charlestown | Winchester |
|---|---|---|---|
| Daily, James | Shelden, Wilson C. | Griggs, Jr., Thomas | Charles Magill |
| Fox, William | Lee, Ludwell | Tate, William | Edward McGuire |
| Naylor, William | Henderson, Richard H. | Yates, John | Thomas Cramer |
| Throckmorton, Warner | Rose, John | Slaughter, Smith | John Bell |
| McDowell, John | Moore, Asa | Ransome, Matthew | Obed Waite |
| Machir, James | Smith, Fleet | Griggs, John | Lewis Wolfe |
| Inskeep, John | Powell, Cuthbert | Graghill, Wm. P. | |
| Parsons, David | Rust, George | Davis, Joseph W. | |
| Armstrong, William | Ball, Charles S. | Howell, Samuel | |
| Heiskell, Christopher | Sunders, Aaron | Baker, John | |
| Donaldson, William | Braden, Robert | Bennett, Thos. S. | |
| Wright, John | Harding, John J. | Boyd, Elisha | |
| Vandever, Jacob | Carr, Samuel | Cooke, John R. |
On Wednesday, January 6, 1819, the directors unanimously re-elected Charles Magill president of the Bank of the Valley.[4]
On Wednesday, May 12, 1852, stockholders elected the following directors: T.A. Tidball, A.S. Baldwin, Lloyd Logan, H.H. Lee, and D.W. Barton. The state directors appointed by the Executive were R.E. Byrd, Jacob Baker, Wm. Miller, and Wm. Stephenson. Stockholders approved the establishment of a branch at Christinasburg.[5] In September 1852, John McDowell, Esq., resigned his office as cashier of the Bank of the Valley at Romney, which place he held for a number of years. Wm. A. Vance, Esq., was elected in his place.[6]
In July 1855, the following directors were elected by the Valley Bank stockholders in Staunton: Kenton Harper (president), Nicholas K. Trout, James A. McClung, Jefferson Kinney. The state's directors were Robert G. Bickle, Wm. H. Harman, and S.M. Yost. the bank officers were E.M. Taylor, cashier; Wm. C. Eskridge, teller; D.C. McGuffin and N. Catlett, clerks; and Wm. Carrol, runner.[7]
In June 1860, the Valley Bank located in Charlestown had the following board of directors elected by the stockholders: Capt. John Moler, John C. Wiltshire, John W. McCardy. Thos. Rutherford. Mr. Rutherford was new to the board. The state directors were Wells J. Hawks, Robert W. Baylor, and Thos. C. Green.[8]
In December 1861, the circulation of Virginia banks had been increased by loans made to the State and Confederate Governments, and in most cases it was largely increased. The Bank of the Valley had capital $1,215,000, circulation $1,478,532.50, specie $328,610.99, Deposits $538,294.48, and discounts $1,969,579.18.[9]
Shenandoah Valley National Bank
In January 1866, the Shenandoah Valley National Bank was organized in Winchester with Philip Williams, president; and H.M. Brent, cashier.[10] It was reported that $106,000 of the stock was owned by Baltimoreans.[11] Mr. Brent had gone to Baltimore, and in a few days obtained subscriptions amounting to $106,000, and on his return home raised subscriptions amounting to $24,000.[12]
On Thursday, March 12, 1868, the Valley Bank property on the corner of Loudoun and Piccadilly Street, Winchester, was sold by H.G. Fant, receiver, to the Shenandoah Valley National Bank for $13,000.[13] Mr. Fant organized the First National Bank of Richmond and was its president.
On Friday, October 11, 1875, Henry M. Brent, Sr., died at his residence in Winchester. For more than half a century he occupied positions of trust and responsibility in connection with the business of Winchester. Mr. Brent commenced his business life as a clerk in a country store. In 1821 he was appointed bookkeeper of the Bank of the Valley, and rose by regular promotion to the position of cashier. Soon after the close of the war Mr. Brent went to Baltimore, and in a few days obtained subscriptions amounting to $106,000 for the establishment of the Shenandoah Valley National Bank, where he was its cashier.[14] In November Henry M. Brent, Jr., was elected cashier to fell the vacancy caused by the death of his father.[15]
In April 1901, Mr. Charles E. Hoover was awarded the contract for erecting a new bank building costing $40,000 for the Shenandoah Valley National Bank.[16] While workmen were removing the effects of the Shenandoah Valley National Bank to their temporary quarters while a new structure was erected, a large iron chest was discovered in one of the vaults. It was securely locked and no one knew what its contents were. The owner of the chest died before the civil war. None of the officials cared to assume the responsibility for opening it. For 45 years the chest laid in the vault of the bank untouched and for over a century it had been in either one or the other of the Winchester banks. The chest belonged originally to Thomas Lord Fairfax, and the old baron kept all his valuable papers and deeds to his vast domains locked therein. Ownership descended to a relative, Felix Roberts, owner of Hackwood, near Winchester, who died about 1861 and appointed the late Henry M. Brent, cashier of the bank, as his executor. Mr. Brent never told anyone what was in the strong box.[17] In August, Mr. Henry S. Slagle resigned the presidency on account of ill health. Mr. S.H. Hansbrough of Winchester took his place.[18]
In December 1902, the magnificent new, three-story banking house was completed for the Shenandoah Valley National Bank. The edifice cost about $50,000, the banking room furniture and adornments alone cost about $10,000. The bank was doing an immense business and despite the fact that another bank, the Farmers and Merchants National, had opened since the first of the year. The Shenandoah Valley National had increased its deposits by $150,000 to $700,000, and now had assets of $1,063,896.10.[19]
On February 8, 1877, Mr. Aaron H. Griffith died at his residence, Brookland Mills, near Woodstock, Virginia. He had been for a lifetime identified with the business and industrial interests of the community. He established the Friendly Grove Factory near Winchester in 1825 and the Brookland Mills in 1840 where he had since resided. He had been since its establishment a director of the Shenandoah Valley National Bank. Mr. Griffith's ancestors were among the first settlers in the Shenandoah Valley, a farm in the possession of the family had been deeded to them in 1735 in the reign of George II.[20]
In January 1921, at the 55th annual stockholders' meeting of the Shenandoah Valley National Bank, stockholders re-elected the following directors: John W. Rice, R. Gray Williams, William S. Hiett, A.B. Richards, W.A. Backer, E.V. Weems, Lewis F. Cooper, M. Lohr Capper and Stewart Bell. Over the past year the bank increased its deposits over $300,000, the total deposits being $2,350,558.76. The total resources were more than $4,000,000.[21]
In January 1931, Miss Lula A. Rush was appointed an assistant cashier of the Shenandoah Valley National Bank. She was the first woman to occupy such a position in a local bank. Carl T. Cather was also appointed assistant cashier to succeed Clark M. Smith who resigned to take the office as clerk of the Corporation Court.[22] On January 13th, Winchester banks began a new year with resources virtually up to the mark of a year ago and with aggregate deposits just about $50,000 less than they were at the close of 1930. Presidents who were re-elected were R. Gray Williams, Shenandoah Valley National Bank; H.D. Fuller, Farmers and Merchants National Bank and Trust Company; and Herbert S. Larrick, Commercial and Savings Bank. Directors were re-elected by stockholders with few changes made. The Union Bank would not elect officers until April.[23]
On July 24, 1946, R. Gray Williams, rector of the board of visitors of the University of Virginia and prominent member of the Virginia bar died at his home in Winchester after an illness of several weeks. Interment would be in Mount Hebron Cemetery. Born July 10, 1874, at Loudoun County, Mr. Williams came from a family of lawyers, all who achieved prominence in Winchester and Frederick County bars. He had served since 1933 as a member of the board of visitors for the University of Virginia, where he received his legal training, and its rector since November 1939. He was the 22nd individual to serve as rector, a position first held by Thomas Jefferson, the university's founder (The rector presided at meetings of the board and was the corporate head of the University). E.I. Carruthers, university bursar and secretary of the board of visitors, said that under the usual procedure the board would elect a successor at its next meeting. However, the vacancy would be filled by gubernatorial appointment. Mr. Williams was a member of Phi Beta Kappa scholarship fraternity, and of Delta Pi. Mr. Williams was counsel for Northern Virginia Power Company, the Virginia Woolen Company, Baltimore and Ohio and the Pennsylvania Railroads, the George Washington Hotel Corporation, and other firms. In 1932 Roanoke College conferred upon him the honorary degree of doctor of laws. During the administration of Harry Byrd as Governor Virginia, Mr. Williams, was member of the commission to recommend revisions to the state constitution.[24]
In August 1983, the directors of four small Virginia banks agreed to a merger with the First American Bank of Virginia. The Peoples National Bank of Leesburg, Shenandoah Valley National Bank of Winchester, First National Bank of Lexington and Valley National Bank of Harrisonburg would merge by years' end according to Milton L. Drewer, Jr., president and chief executive officer of First American.[25] First American Bankshares Inc., a Washington bank holding company, owned a controlling interest in 10 banks in Northern Virginia, Washington, Maryland and New York State.[26] The holding company decided to give Drewer control of the four affiliate banks which combined contributed about $200 million in deposits. At the close of 1983, First American Bank of Virginia was able to acquire First Peninsula Bank and Trust Co. in Hampton and purchase another 26 branches which First & Merchants National Bank and Virginia National Bank auctioned off as a condition of their recent merger. Back in September, First American had total deposits of slightly more than $1 billion. The F&M and VNB branches held about $200 million in deposits when they were put up for sale. One of the members of First American's advisory board was Joe Gibbs, coach of the Washington Redskins football team.[27]
In August 1998, South Branch Valley Bancorp Inc. of Moorefield, West Virginia, announced it would take the name of a former bank in the area, Shenandoah Valley National Bank. That bank started in 1866, became First American Bank and was bought by North Carolina's First Union Corp. in the mid-90s. South Branch was a holding company with two banks in West Virginia. H. Charles Maddy III was president and chief executive officer.[28]
Official Bank Title
1: The Shenandoah Valley National Bank of Winchester, VA
Bank Note Types Issued
A total of $4,971,680 in National Bank Notes was issued by this bank between 1866 and 1935. This consisted of a total of 459,997 notes (353,292 large size and 106,705 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 - 4700 Original Series 3x10-20 1 - 2340 Series 1875 3x10-20 1 - 2729 1882 Brown Back 3x10-20 1 - 5986 1902 Red Seal 3x10-20 1 - 4350 1902 Date Back 3x10-20 1 - 16800 1902 Plain Back 4x5 1 - 4978 1902 Plain Back 3x10-20 16801 - 63240 1929 Type 1 6x5 1 - 9034 1929 Type 1 6x10 1 - 4664 1929 Type 1 6x20 1 - 1288 1929 Type 2 5 1 - 9478 1929 Type 2 10 1 - 5316 1929 Type 2 20 1 - 1995
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1866 - 1935):
Presidents:
- Philip B. Williams II, 1866-1867
- William Ball Baker, 1868-1887
- Henry S. Slagle, 1888-1900
- Scott Hume Hansbrough, 1901-1908
- William Henry Baker, 1909-1915
- John W. Rice, 1916-1920
- Robert Gray Williams, 1921-1935
Cashiers:
- Henry Moore Brent, (Sr.), 1866-1875
- Henry Moore Brent, (Jr.), 1875-1877
- Tilman Shumate Jr., 1878-1882
- John W. Rice, 1883-1915
- William Garges Hardy, 1916-1932
- Harold G. Brown, 1933-1935
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Winchester, VA, 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
- ↑ Alexandria Gazette, Alexandria, VA, Wed., Oct. 8, 1817.
- ↑ Alexandria Gazette, Alexandria, VA, Thu., Jan. 29, 1818.
- ↑ Richmond Enquirer, Richmond, VA, Sat., Jan. 24, 1818.
- ↑ United States' Telegraph, Washington, DC, Wed., Jan. 13, 1819.
- ↑ Alexandria, Gazette, Alexandria, VA, Fri., May 21, 1852.
- ↑ Alexandria Gazette, Alexandria, VA, Fri., Sep. 24, 1852.
- ↑ Richmond Enquirer, Richmond, VA, Fri., July 6, 1855.
- ↑ Alexandria Gazette, Alexandria, VA, Wed., June 6, 1860.
- ↑ Richmond Enquirer, Richmond, VA, Fri., Dec. 13, 1861.
- ↑ Alexandria Gazette, Alexandria, VA, Tue., Jan. 16, 1866.
- ↑ The Baltimore Sun, Baltimore, MD, Mon., Oct. 22, 1866.
- ↑ Alexandria Gazette, Alexandria, VA, Thu., Oct. 21, 1875.
- ↑ Spirit Of Jefferson, Charles Town, WV, Mar. 17, 1868.
- ↑ Alexandria Gazette, Alexandria, VA, Thu., Oct. 21, 1875.
- ↑ Shenandoah Herald, Woodstock, VA, Thu., Nov. 11, 1875.
- ↑ Richmond Dispatch, Richmond, VA, Thu., Apr. 25, 1901.
- ↑ Richmond Dispatch, Richmond, VA, Sun., May 12, 1901.
- ↑ The Virginian-Pilot, Norfolk, VA, Wed., Aug. 21, 1901.
- ↑ Richmond Dispatch, Richmond, VA, Sun., Dec. 28, 1902.
- ↑ Shenandoah Herald, Woodstock, VA, Thu., Feb. 22, 1877.
- ↑ The Roanoke Times, Roanoke, VA, Fri., Jan. 14, 1921.
- ↑ Evening Star, Washington, DC, Mon., Jan. 5, 1931.
- ↑ Richmond Times-Dispatch, Richmond, VA, Wed., Jan. 14, 1931.
- ↑ The Daily Progress, Charlottesville, VA, Thu., July 25, 1946.
- ↑ The Roanoke Times, Roanoke, VA, Sat., Aug. 13, 1983.
- ↑ The Roanoke Times, Roanoke, VA, Tue., Mar. 29, 1983.
- ↑ Richmond Times-Dispatch, Richmond, VA, Sun., Jan. 8, 1984.
- ↑ Richmond Times-Dispatch, Richmond, VA, Tue., Aug. 25, 1998.