Southern National Bank, Louisville, KY (Charter 5195)

From Bank Note History
Jump to navigation Jump to search
The old Bank of Louisville Building
The old Bank of Louisville Building, 322 West Main Street, ca2021. Courtesy of Google Maps

Southern National Bank, Louisville, KY (Chartered 1899 - Liquidated 1915)

Town History

Advertisement from March 1915 for the Southern National Bank
Advertisement from March 1915 for the Southern National Bank of Louisville, Kentucky. The bank was located on 322 West Main Street.[1]

Louisville is the most populous city in the Commonwealth of Kentucky, sixth-most populous city in the Southeast, and the 27th-most-populous city in the United States. By land area, it is the country's 24th-largest city, although by population density, it is the 265th most dense city. Louisville is the historical county seat and, since 2003, the nominal seat of Jefferson County, on the Indiana border.

Named after King Louis XVI of France, Louisville was founded in 1778 by George Rogers Clark, making it one of the oldest cities west of the Appalachians. With the nearby Falls of the Ohio as the only major obstruction to river traffic between the upper Ohio River and the Gulf of Mexico, the settlement first grew as a portage site. It was the founding city of the Louisville and Nashville Railroad, which grew into a 6,000-mile system across 13 states.

Today, the city is known as the home of boxer Muhammad Ali, the Kentucky Derby, Kentucky Fried Chicken, the University of Louisville and its Cardinals, Louisville Slugger baseball bats, and Fortune 500 company Humana. Louisville Muhammad Ali International Airport, the city's main commercial airport, hosts UPS's worldwide hub.

Louisville had 18 National Banks chartered during the Bank Note Era, and all 18 of those banks issued National Bank Notes.

Bank History

  • Organized May 20, 1899
  • Chartered May 25, 1899
  • Succeeded Farmers & Drovers Bank
  • Absorbed Bank of 1899
  • Assumed 2171 by consolidation August 5, 1910 (Third National Bank, Louisville, KY)
  • Liquidated August 7, 1915
  • Absorbed by 4956 (American NB/American-Southern NB, Louisville, KY)

Farmers' and Drovers' Bank

On February 11, 1869, the bill incorporating the Farmers' and Drovers' Bank of the City of Louisville was, after some amendments, passed in the House.[2] The directors named in the charter were as follows: I.B. O'Bannon of Jefferson County; Judge Will. S. Prior of Henry County; James P. Beard of Spencer County; Archibald C. Wilson of Nelson County; James S. Crutchfield of Oldham County; Dr. E.D. Standiford and P.D.S. Barbour of Jefferson County. The stock of $500,000 was expected to be subscribed immediately upon the opening of the books.[3] On April 8th the Farmers' and Drovers' Bank was fully organized, the directors meeting at the residence of I.B. O'Bannon, Esq. Mr. O'Bannon was elected president and two additional directors, Harrison Baily of Shelby County and Benson Orsmby of Jefferson County, were elected. The board now was composed of W.S. Pryor, James P. Beard, Archibald C. Wilson, J.S. Crutchfield, E.D. Standiford, P.D.S. Barbour, Harrison Baily and Benson Ormsby. The Farmers' and Drovers' Bank appealed directly to the farmers of the State and had been chartered for their benefit and was officered and controlled by farmers.[4]

On Saturday, March 20, 1880, at the regular meeting of the stockholders of the Farmers' and Drovers' Bank, the following board of directors was elected: Hon. E.D. Standiford, Hon. Henry Frederick, Hon. John Watts Kearny, Hon. Thos. H. Hays, R.S. Veech, H. Victor Newcomb, J.I. Smith of Henry Co., Sim. Parr, W.J. Thomas of Shelby Co., and W.L. Murphy. At a subsequent meeting of the board, the following officers were unanimously re-elected: Hon. E.D. Standiford, president; R.S. Veech, cashier; and Joseph Niebel, assistant cashier. No opposition had ever been offered to the re-election of the Hon. E.D. Standiford or Mr. R.S. Veech since they had been officers of the bank.[5]

In January 1899, the Farmers' and Drovers' Bank of Louisville was located at 333 West Market Street, with R.S. Veech, president; W.J. Thomas, vice president; and Jos. W. Nichols, cashier.[6] In February plans were made to convert the Farmers' and Drovers' Bank from a state to a national institution. The matter would be brought before the stockholders at the annual meeting scheduled for Thursday, March 16th. It was understood that when the reorganization took place Mr. James S. Escott, the national bank examiner, would succeed Mr. R.S. Veech as president. The directors were Bennett H. Young, B.B. Veech, Henry Buschemeyer, Jr., F.N. Lewis, J.W. Nichols, L.M. Paine, S.L. Gaar, Henry A. Bell, R.S. Veech, W.J. Thomas, and W.N. Haldeman. Stockholders were told that the recent change in tax laws of Kentucky made it advantageous to reorganize the bank as a national bank.[7] At the stockholders' meeting, the proposition to convert the bank into a national bank and reduce the capital stork from $300,000 to $250,000 was adopted. One new director was added, Mr. Bruce Haldeman. The following officers were then elected: W.J. Thomas, president; F.N. Lewis, vice president; Henry A. Bell, second vice president; J.W. Nichols, cashier. Mr. Thomas had been vice president.[8]

The Southern National Bank

On May 25, 1899, the Comptroller of the Currency authorized the Southern National Bank of Louisville to begin business with a capital stock of $250,000. The officers were W.J. Thomas, president; and J.W. Nichols, cashier. The Southern National Bank was the name that would be assumed by the Farmers' and Drovers' Bank which had up to this time operated under a state bank charter.[9] 

On February 28, 1900, directors of the Southern Mutual Investment Company decided it would move its general offices from Lexington to Louisville. James S. Escott, president of the Southern National Bank, was elected president at the same meeting.[10] On April 9th, Mr. Escott declined the presidency of the Southern Mutual and the plan to move the headquarters to Louisville was abandoned.[11]

On April 21, 1900, Joseph W. Nichols died as the result of a blood clot formed after a fall on the Fourth Avenue streetcar a few weeks earlier. He ruptured a muscle although the accident was not regarded as serious at the time. Mr. Nichols was born at Harrodsburg almost 60 years ago. Soon after his family moved to Danville where his boyhood was spent. His father was a merchant and a member of the faculty of Centre College and it was there that he received his education. After he graduated the Nichols family moved to Missouri where Prof. Nichols was killed during the war. After the war, he moved to Louisville and secured a position as bookkeeper at the Farmers' and Drovers' Bank. In 1880 he was made cashier and acted in that capacity until the consolidation of the Farmers' and Drovers' Bank and the Southern National Bank.[12]

The report of condition for the Southern National Bank of Louisville at the close of business, September 5, 1900, showed total resources of $2,025,040.97, with capital stock paid-in $250,000, surplus and undivided profits $15, 564.47. Circulation $199,400, and individual deposits $777,794.59. Henry D. Ormsby was cashier with Wm. S. Parker, Jr., notary. The directors attesting to the correctness of the report were P.N. Clarke, James S. Escott, and F.N. Lewis.[13] 

 On Monday, November 26, 1900, one of Main Streets oldest landmarks was removed in the shape of a sign on the Southern National Bank building which for years guided many businessmen to the doors of the old Bank of Louisville. While the old Bank of Louisville had been out of existence for over a year, the sign was allowed to remain. When removed it was discovered that the copper letters had been worn through from constant polishing. Mr. Peyton N. Clarke, one of the directors of the Southern National Bank kept the sign as a memento of the old institution.[14]

In January 1910, the Third National Bank under the able management of J.J. McHenry found it necessary to increase the capital stock to $300,000 and this was done through the issuance of new stock to the stockholders. The surplus was also increased to $60,000. A.S. Rice, a prominent banker of Cynthiana, took a large block of the stock and was elected a vice president. A.R. White resigned as cashier of the Union National Bank and became associated with the Southern National as president.[15] 

The directors of the Third National were: J.D. Powers, W.N. Cox, A.V. Thomson, Robert E. Hughes, James P. Gregory, J.R. Downing, H.B. Carter, John J. McHenry, and Albert S. Rice. The old officers re-elected were John J. McHenry, president; Albert S. Rice and J.D. Powers, vice presidents; and G.S. Bridges, cashier.

On Tuesday, January 11, 1910, directors of the Southern National Bank elected were: W.J. Thomas, H. Buschemeyer, Jr., H.A. Bell, F.N. Lewis, B.H. Young, John P. Starks, S. Castleman, Allen R. White, Edgar Ezzell, John H. Wilkes, Henry Thiemann. The old officers re-elected were Allen R. White, president; W.J. Thomas and F.N. Lewis, vice presidents; and H. Thiemann, cashier.[16]

On Friday, August 5, 1910, stockholders of the Southern National Bank met in the office of the bank on Main Street between Third and Fourth Avenue and indorsed the action of the directors in taking over the Third National Bank early in July and approved a plan to increase the capital from $250,000 to $500,000. Three new directors were added to the board by a unanimous vote. Their names were A.S. Rice, A.V. Thomson and John F. Downing of Georgetown. Their names were added to the following list: John H. Wilkes, F.N. Lewis, W.J. Thomas, Bennett H. Young, Edgar Ezzell, H. Buschemeyer, Sam'l Castleman, John P. Starks, H.A. Bell, A.R. White and H. Thiemann.[17] The Third National Bank building was located on the southwest corner of Fourth and Market which the Southern National Bank offered for rent.[18] 

The year of 1910 contributed a few interesting epochs in Louisville's banking history. The absorption of the Third National Bank by the Southern National Bank took place in July. The latter institution took over the entire business of the former, which passed out of existence. John J. McHenry, former president of the Third National Bank, was now active in the insurance field. Dr. W.H. Netherland, president of the South Louisville Savings & Deposit Bank, would remember the year of 1910 for one reason, at least; it brought a run on his bank. It had its origin in a mule trade and, while serious at its Inception, proved a most laughable episode at the finale. One of the depositors of the bank purchased a mule and gave his check in payment. After the delivery of the animal was made, the mule died and the purchaser, in order to save the loss, stopped payment on the check. Along came the seller of the mule with the check, which the bank refused to recognize. In an amazingly short time a crowd of anxious depositors stormed the doors of the bank from all over South Louisville and great excitement prevailed. Practically all the money that was drawn out of the bank was redeposited during the next two or three days. The Ropke defalcation was possibly the most sensational item of news in connection with the year's banking history. August Ropke was formerly the assistant secretary and cashier of the Fidelity Trust Company and was in the Jefferson County Jail unable to make the $25,000 bond necessary to secure his release.[19] At some of the annual meetings familiar faces would be missing. Among those who died during the year were John C. Russell, Hardy Burton, W.H. Edinger, Samuel E. Ledman and L.O. Cox. Mr. Russell, Mr. Burton and Mr. Ledman were all directors of the Louisville Trust Company, and all died within two months. Officers and directors of the Southern National Bank at year ends were: Allen R. White, W.J. Thomas, F.N. Lewis, and E.B. Robertson, vice presidents; Henry Thiemann, cashier; and W.S. Parker, Jr., assistant cashier. Directors were W.J. Thomas, E. Ezzell, A.R. White, F.N. Lewis, S. Castleman, H. Buschemeyer, Jr., J.P. Starks, J.H. Wilkes, H. Thiemann, Henry A. Bell, B.H. Young, and A.S. Rice.[20]

On October 16, 1911, William S. Parker, former assistant cashier of the Southern National Bank, was sentenced in federal court to serve five years in the federal prison for embezzlement of the bank's funds.[21]

On Tuesday, January 12, 1915, stockholders elected the following directors: John H. Wilkes, F.N. Lewis, W.J. Thomas, Bennett H. Young, Edgar Ezzell, H. Buschemeyer, Samuel Castleman, H.A. Bell, Younger Alexander, H. Thiemann, A.V. Thomson, Brainard Lemon. Albert S. Rice retired as president and withdrew also as a director due to ill-health. Mr. Rice was at the home of his half-brother, Mr. Younger Alexander, near Lexington. Mr. Alexander had recently been elected a director in the Southern National Bank to succeed John R. Downing of Georgetown, resigned.[22] The officers elected were W.J. Thomas, acting president; E.H. Robertson and F.N. Lewis, vice presidents; H. Thiemann, cashier.[23] On Friday, January 22nd, directors elected Henry Thiemann as president to fill the office formerly occupied by Albert S. Rice who was now in Florida. W.J. Thomas who had been acting as president would continue as a vice president, but would take no active part in the management. E.B. Robertson, vice president, would also perform the duties as cashier. Mr. Thiemann began his career with the Southern National about 40 years ago as an errand boy.[24] 

On Friday, October 29, 1915, Henry D. Ormsby, cashier of the National Bank of Kentucky, was given the additional office of vice president by the directors. No other change was made. By-laws were amended to enable the directors to promote Mr. Ormsby. Heretofore, John M. Atherton had been the only vice president. He would continue in that capacity with Oscar Fenley as president. Mr. Ormsby had been cashier of the bank for ten years. He was formerly cashier of the Southern National Bank and during his long banking career had been connected with several other institutions.[25]

On Monday, November 1, 1915, stockholders of the old Southern National Bank received a dividend of 40% amounting to a disbursement of $200,000 on the proceeds of the liquidation of the Southern National's assets. The dividend would be the first paid on the capital stock of $500,000 representing the original investment of the shareholders. Brainard Lemon, acting for the Liquidation Committee, notified stockholders that everything was being done to secure payment of all outstanding obligations at the Southern National so that the amounts could be distributed. The sale of the banking house for $63,000 and $100,000 bonus were most fortunate transactions both for the Southern National and the American National Bank, leaving the American-Southern National Bank with the largest deposits of any bank in Kentucky.[26] 

In January 1938, restoration of the interior of the American-Southern National Bank Building at 322 W. Main was completed and the Louisville Credit Men's Association began moving its office there from the Speed Building. The association last summer purchased the 100-year-old bank building for conversion into its own offices, at a cost of $30,000. Under the direction of Otis & Lea, architects, the interior was converted into modern office space, although the architectural style of the classic old building was retained both inside and outside. The association, which employed forty persons, was a co-operative, non-profit organization of wholesalers, jobbers, manufacturers, and banks.[27] Erected in 1837, the building was designed by Louisville's first professional architect, Gideon Shryock, who some years prior had won considerable renown for his design of the State Capitol at Frankfort.[28]
  • Bank of Louisville Building, 322 West Main Street, Louisville, Jefferson County, KY. Nine photos of the exterior and interior of the bank from the Historic American Buildings Survey Library of Congress), accessed Nov. 27, 2025.
  • Photograph, Kentucky Historical Society, Historic American Buildings Survey Photographs, Graphic 23. Exterior front view of National Bank of Kentucky of Louisville, Jefferson County, KY. The Bank of Kentucky building was designed in 1837 by James H. Dakin for the United States' Bank of Louisville with two Ionic columns and a cornice with an iron palmetto crest.

Official Bank Title

1: The Southern National Bank of Louisville, KY

Bank Note Types Issued

1882 Brown Back $10 bank note
1882 Brown Back $10 bank note with pen signatures of H.D. Ormsby, Cashier and James Escott, President. Courtesy of Heritage Auctions, www.ha.com
1882 Date Back $20 bank note
1882 Date Back $20 bank note with Repeater treasury SN and printed signatures of Henry Thiemann, Cashier and A.S. Rice, President. Courtesy of Heritage Auctions, www.ha.com
1882 Date Back $5 bank note
1882 Date Back $5 bank note with stamped signatures of E.B. Robertson, Cashier and Henry Thiemann, President. Courtesy of Heritage Auctions, www.ha.com

A total of $2,121,950 in National Bank Notes was issued by this bank between 1899 and 1915. This consisted of a total of 228,640 notes (228,640 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
1882 Brown Back 3x10-20 1 - 14500
1882 Date Back 4x5 1 - 24535
1882 Date Back 3x10-20 1 - 18125

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1899 - 1915):

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

  • Louisville, KY, 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
  1. ↑ Kentucky Irish American, Louisville, KY, Sat., Mar. 13, 1915.
  2. ↑ The Courier-Journal, Louisville, KY, Fri., Feb. 12, 1869.
  3. ↑ The Courier-Journal, Louisville, KY, Thu., Apr. 1, 1869.
  4. ↑ The Courier-Journal, Louisville, KY, Fri., Apr. 23, 1869.
  5. ↑ The Courier-Journal, Louisville, KY, Wed., Mar. 24, 1880.
  6. ↑ The Courier-Journal, Louisville, KY, Sun., Jan. 1, 1899.
  7. ↑ The Courier-Journal, Louisville, KY, Sun., Feb. 5, 1899.
  8. ↑ The Courier-Journal, Louisville, KY, Fri., Mar. 17, 1899.
  9. ↑ The Courier-Journal, Louisville, KY, Fri., May 26, 1899.
  10. ↑ Lexington Herald-Leader, Lexington, KY, Wed., Feb. 28, 1900.
  11. ↑ The Courier-Journal, Louisville, KY, Tue., Apr. 10, 1900.
  12. ↑ The Courier-Journal, Louisville, KY, Sun., Apr. 22, 1900.
  13. ↑ The Courier-Journal, Louisville, KY, Fri., Sep 14, 1900.
  14. ↑ The Courier-Journal, Louisville, KY, Tue., Nov. 27, 1900.
  15. ↑ The Courier-Journal, Louisville, KY, Sat., Jan. 1, 1910.
  16. ↑ The Courier-Journal, Louisville, KY, Wed., Jan. 12, 1910.
  17. ↑ The Courier-Journal, Louisville, KY, Sat., Aug. 6, 1910.
  18. ↑ The Courier-Journal, Louisville, KY, Tue., July 19, 1910.
  19. ↑ The Courier-Journal, Louisville, KY, Thu. July 14, 1910.
  20. ↑ The Courier-Journal, Louisville, KY, Tue., Dec. 27, 1910.
  21. ↑ The Twice-A-Week Messenger, Owensboro, KY, Wed., Oct. 18, 1911.
  22. ↑ The Cynthiana Democrat, Cynthiana, KY, Thu., Jan. 14, 1915.
  23. ↑ The Courier-Journal, Louisville, KY, Wed., Jan. 13, 1915.
  24. ↑ The Courier-Journal, Louisville, KY, Sun., Jan. 24, 1915.
  25. ↑ The Courier-Journal, Louisville, KY, Sat., Oct. 30, 1915.
  26. ↑ The Courier-Journal, Louisville, KY, Sat., Oct. 30, 1915.
  27. ↑ The Courier-Journal, Louisville, KY, Sun., Jan. 30, 1938.
  28. ↑ The Courier-Journal, Louisville, KY, Sun., Aug 8, 1937.
Retrieved from "https://banknotehistory.mywikis.wiki/w/index.php?title=Southern_National_Bank,_Louisville,_KY_(Charter_5195)&oldid=71836"