South Bethlehem NB/Bethlehem NB, Bethlehem, PA (Charter 3961)

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Postcard of The Bethlehem National Bank, erected in 1920, on Third and Adams Streets, ca1920s.
Postcard of The Bethlehem National Bank, erected in 1920, on Third and Adams Streets, ca1920s. Courtesy of Adam Stroup

South Bethlehem NB/Bethlehem NB, Bethlehem, PA (Chartered 1889 - Receivership 1934)

Town History

Photo of The Bethlehem National Bank, ca2020.
Photo of The Bethlehem National Bank, ca2020. Courtesy of Google Maps

Bethlehem is a city along the Lehigh River in Northampton and Lehigh counties in the Lehigh Valley region of the eastern portion of Pennsylvania. As of the 2010 census, the city had a total population of 74,982, making it the seventh largest city in Pennsylvania, after Philadelphia, Pittsburgh, Allentown, Erie, Reading, and Scranton. Of this, 55,639 were in Northampton County, and 19,343 were in Lehigh County.

Bethlehem lies in the center of the Lehigh Valley, a region of 731 sq mi that is home to more than 800,000 people. Together with Allentown and Easton, the Valley embraces the Allentown-Bethlehem-Easton, PA-NJ metropolitan area, including Lehigh, Northampton, and Carbon counties within Pennsylvania, and Warren County in the adjacent state of New Jersey. Smaller than Allentown but larger than Easton, Bethlehem is the Lehigh Valley's second-most populous city. In turn, this metropolitan area comprises Pennsylvania's third-largest metropolitan area.

The Norfolk Southern Railway's Lehigh Line (formerly the main line of the Lehigh Valley Railroad), runs through Bethlehem heading east to Easton, Pennsylvania and Phillipsburg, New Jersey across the Delaware River. The Norfolk Southern Railway's Reading Line runs through Bethlehem heading west to Allentown and Reading.

On April 2, 1741, William Allen, a wealthy Philadelphia merchant and political figure, who later founded the city of Allentown, deeded 500 acres along the banks of the Monocacy Creek and Lehigh River to the Moravian Church. On Christmas Eve of that year David Nitschmann and Count Zinzendorf, leading a small group of Moravians, founded the mission community of Bethlehem at the confluence of the Monocacy and Lehigh. They came to set up missionary communities among the Native Americans and unchurched German-speaking Christians. They named the settlement after the Biblical town Bethlehem of Judea, said to be the birthplace of Jesus.

In 1762, Bethlehem built the first water-works in America to pump water for public use. In the autumn of 1777, during the American Revolutionary War, many Patriots fled from Philadelphia to Bethlehem and the surrounding area as the British advanced in the east. The Marquis de Lafayette recovered from an injury received at the Battle of Brandywine in Bethlehem. Several members of the Continental Congress fled north to Bethlehem before the congress eventually reconvened in Lancaster. While George Washington and his troops stayed in Valley Forge, Washington stored his personal effects at the farm of James Burnside in Bethlehem, as of 1998 this is operated as a historical museum known as James Burnside Plantation.

In 1845 the prosperous village was incorporated into a free borough in the County of Northampton. After the Civil War the Borough of South Bethlehem was formed. In 1886 the Borough of West Bethlehem (in Lehigh County) was formed. In 1904, the Boroughs of West Bethlehem (in Lehigh County) and Bethlehem (in Northampton County) merged. In 1917, the Borough of South Bethlehem and Bethlehem merged to become the City of Bethlehem. Bethlehem Steel executive Archibald Johnston (1865-1948) was elected as the new city's first mayor.

Bethlehem became a center of heavy industry and trade during the industrial revolution. The Bethlehem Steel Corporation (1857–2003), founded and based in Bethlehem, was once the second-largest steel producer in the United States, after Pittsburgh, Pennsylvania-based U.S. Steel. Bethlehem Steel was also one of the largest shipbuilding companies in the world and one of the most powerful symbols of American industrial manufacturing leadership.

Bethlehem Steel began producing the first wide-flange structural shapes made in the United States and they pioneered the production of the now-ubiquitous "I-beam" used in construction of steel-framed buildings, including skyscrapers. It manufactured construction materials for numerous New York and other city skyscrapers, as well as for major bridges.

The company became a major supplier of armor plate and ordnance products during World War I and World War II, including the manufacture of 1,100 warships. After roughly 140 years of metal production at its Bethlehem plant, Bethlehem Steel ceased operations there in 1995, in the face of overseas competition and declining demand.

Bethlehem had four National Banks chartered during the Bank Note Era, and three of those banks issued National Bank Notes.

Bank History

  • Organized December 10, 1888
  • Chartered January 14, 1889
  • 2: Conservatorship March 15, 1933
  • 2: Receivership March 26, 1934

On Tuesday, January 9, 1900, stockholders elected the following directors: Jacob Fegely, Adam Brinker, George W. Bachman, James A. Benner, Jacob L. Grim, J.W. Larash, J.L. Broughal, G.R. Deemer, and S.L. Stephens.[1]

On November 28, 1900, Jacob Fegely, president of the National Iron Bank of Pottstown, dropped dead while attending a meeting of the Board of Directors of that institution. He was one of the best known businessmen and iron masters in the region and was the largest real estate owner in Pottstown. Mr. Fegely was also president of the South Bethlehem national Bank and the Security Company of Pottstown. For many years he was president of the Warwick Iron Co.[2]

On January 8, 1918, the stockholders of the South Bethlehem National Bank elected the following directors:  George R. Booth, Adam Brinker, Philip J. Byrne, Samuel L. Caum, Jacob Greup, Charles P. Hoffman, Robert Pfeifle, Osman F. Reinhard, Samuel Strauss, and Aaron R. Trumbauer.[3]

On August 19, 1919, shareholders decided to change the name of the South Bethlehem National Bank to the Bethlehem National Bank.[4]

In February 1920, work on the new building of the Bethlehem National Bank at Third and Adams Streets was begun by contractor Robert Pfeifle. The ruins of the former building were being cleared. The new building would be of granite, cost $250,000 and designed for banking purposes only.[5][6] In August 1921, it was announced that the new bank building on the northwest corner of Third and Adams streets, with the exception of a few interior trimmings, was completed. The directors hoped to take possession of their new quarters by September 1st. The public was invited to inspect the new bank on January 2, 1922 and every evening until January 6th. The cost for erection and furnishings was close to $200,000. The building was constructed of Rockport granite and was 42 1/2 feet by 140 feet in dimensions.[7][8]

In October 1927, the Robert Oldham Camp 140, Sons of Union Veterans of the Civil War, Bethlehem, announced the purchase of the three story brick building which was formerly occupied by the Bethlehem National Bank on the southwest corner of Third and Adams Streets. The building would be known as the Grand Army Memorial Hall of Post 527. The purchase price was between $75,000 and $90,000.[9]

On March 28, 1928, Robert Pfeiffle, former Bethlehem city commissioner was unanimously elected president to succeed the late Adam Brinker who was an officer since 1890. Mr. Pfeifle's efforts were largely responsible for the Saucon Park, built at the lower end of the South Side. He was a director of the Hotel Bethlehem, president of the Lehigh Valley Cold Storage Company, president of the Industrial Building and Loan Association and also conducted a contracting business.[10][11]

On January 17, 1933, Mayor Robert Pfeifle was re-elected president at the annual meeting of the directors. Charles P. Hoffman was re-elected vice president, Philip J. Byrne, re-elected vice president and cashier; Fred T. Beckel, Herbert D. Cless, and Edward F. Fehnel, re-elected assistant cashiers.[12]

On March 16, 1933, Harold Mohan was appointed conservator as announced by the Philadelphia Reserve Bank. On July 17, 1933, Mayor Robert Pfeifle, president of the bank, told a meeting of business men that immediate action was needed to reorganize the bank for full reopening in order to protect the interest of the more than 13,000 depositors. Jere Quinlan, president of the South Side organization was in charge of the meeting.[13]

The charter for the new Bethlehem National bank, No. 14007, was received and the bank reopened on Saturday, February 17, 1934. The directors were S.L. Caum, Martin J. Hildenberger, Frank Piff, Dr. Edgar D. Urich, Julius W. Detriche, and Weir Jepson. Russell C. Mauch was solicitor. The president was S.L. Caum, president of the Pennsylvania State Building and Loan League and secretary for three building and loan associations in Bethlehem and a director of the Federal Home Loan Bank of Pittsburgh. Weir Jepson was a native of Iowa, his home being Sioux City. He was a graduate of the University of Iowa. Prior to going to Washington in March 1933 to work in the re-organization division of the comptrollers office, he had considerable banking experience in the northwest, having resided for a number of years in Minneapolis where he had charge of branch banks for the John F. Sinclair company and the Marquette Company.[14]

In March 1934, Fred T. Beckel, conservator since the declaration of the banking holiday was notified by the comptroller's office of the appointment of Marry Margolis as receiver to take control of the assets. Mr. Beckel assisted Mr. Margolis until assuming duties with the new Bethlehem National Bank.[15]

Official Bank Title(s)

1: The South Bethlehem National Bank, South Bethlehem, PA

2: The Bethlehem National Bank (8/25/1919), Bethlehem, PA

Bank Note Types Issued

1882 Brown Back $5 bank note with pen signatures of J.B. Meixell, Cashier and Jacob Fegely, President.
1882 Brown Back $5 bank note with pen signatures of J.B. Meixell, Cashier and Jacob Fegely, President. Courtesy of Heritage Auctions, www.ha.com
Osman F. Reinhard, Cashier and Adam Brinker, Vice President
1882 Brown Back $10 bank note with pen signatures of Osman F. Reinhard, Cashier and Adam Brinker, Vice President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $5 bank note, serial number 1 with printed signatures of Philip J. Byrne, Cashier and Robert Pfeifle, President.
1929 Type 1 $5 bank note, serial number 1 with printed signatures of Philip J. Byrne, Cashier and Robert Pfeifle, President. Courtesy of Heritage Auctions, www.ha.com

A total of $1,140,110 in National Bank Notes was issued by this bank between 1889 and 1934. This consisted of a total of 146,143 notes (124,684 large size and 21,459 small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type Sheet/Denoms Serial#s Sheet Comments
1: 1882 Brown Back 4x5 1 - 4319
1: 1882 Brown Back 3x10-20 1 - 1299
1: 1902 Date Back 4x5 1 - 4600
1: 1902 Date Back 3x10-20 1 - 3640
1: 1902 Plain Back 4x5 4601 - 7400
1: 1902 Plain Back 3x10-20 3641 - 5140
2: 1902 Plain Back 4x5 1 - 7755
2: 1902 Plain Back 3x10-20 1 - 5258
2: 1929 Type 1 6x5 1 - 2144
2: 1929 Type 1 6x10 1 - 1006
2: 1929 Type 1 6x20 1 - 286
2: 1929 Type 2 5 1 - 564
2: 1929 Type 2 10 1 - 162
2: 1929 Type 2 20 1 - 117

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1889 - 1934):

Presidents:

Cashiers:

Other Bank Note Signers

  • Adam Brinker signed notes as Vice President.
  • There are currently no known Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

  1. ↑ The Allentown Leader, Allentown, PA, Jan. 19, 1900.
  2. ↑ The Philadelphia Inquirer, Philadelphia, PA, Thu., Nov. 29, 1900.
  3. ↑ The Morning Call, Allentown, PA, Fri., Jan. 11, 1918.
  4. ↑ The Morning Call, Allentown, PA, Sat., Aug. 23, 1919.
  5. ↑ The Morning Call, Allentown, PA, Wed., Feb. 25, 1920.
  6. ↑ Lebanon Daily News, Lebanon, PA, Wed., Feb. 25, 1920.
  7. ↑ The Morning Call, Allentown, PA, Sat., Dec. 31, 1921.
  8. ↑ The Morning Call, Allentown, PA, Tue., Jan. 3, 1922.
  9. ↑ The Morning Call, Allentown, PA, Sun., Oct. 9, 1927.
  10. ↑ The Morning Call, Allentown, PA, Thu., Mar. 29, 1928.
  11. ↑ The Morning Call, Allentown, PA, Wed., Jan. 18, 1930.
  12. ↑ The Morning Call, Allentown, PA, Fri., Mar. 17, 1933.
  13. ↑ The Morning Call, Allentown, PA, Tue., July 18, 1933.
  14. ↑ The Morning Call, Allentown, PA, Sat., Feb. 17, 1934.
  15. ↑ The Morning Call, Allentown, PA, Tue., Mar. 27, 1934.
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