St. Louis National Bank, Saint Louis, MO (Charter 1112)
St. Louis National Bank, Saint Louis, MO (Chartered 1865 - Liquidated 1899)
Town History
St. Louis is the second-largest city in Missouri. It sits near the confluence of the Mississippi and the Missouri Rivers. In 2020, the city proper had a population of 301,578, while the bi-state metropolitan area, which extends into Illinois, had an estimated population of over 2.8 million, making it the largest metropolitan area in Missouri and the second-largest in Illinois.
The founding of St. Louis was preceded by a trading business between Gilbert Antoine de St. Maxent and Pierre Laclède Liguest in the fall of 1763. St. Maxent invested in a Mississippi River expedition led by Laclède, who searched for a location to base the company's fur trading operations. Though Ste. Genevieve was already established as a trading center, he sought a place less prone to flooding. He found an elevated area overlooking the flood plain of the Mississippi River, not far south from its confluence with the Missouri and Illinois rivers. In addition to having an advantageous natural drainage system, there were nearby forested areas to supply timber and grasslands which could easily be converted for agricultural purposes. This place, declared Laclède, “might become, hereafter, one of the finest cities in America.” He dispatched his 14-year-old stepson, Auguste Chouteau, to the site, with the support of 30 settlers in February 1764. Laclède arrived at the future town site two months later and produced a plan for St. Louis based on the New Orleans street plan. The default block size was 240 by 300 feet, with just three long avenues running parallel to the west bank of the Mississippi. He established a public corridor of 300 feet fronting the river, but later this area was released for private development.
St. Louis was transferred to the French First Republic in 1800 (although all of the colonial lands continued to be administered by Spanish officials), then sold by the French to the U.S. in 1803 as part of the Louisiana Purchase. St. Louis became the capital of, and gateway to, the new territory. Shortly after the official transfer of authority was made, the Lewis and Clark Expedition was commissioned by President Thomas Jefferson. The expedition departed from St. Louis in May 1804 along the Missouri River to explore the vast territory.
St. Louis became a major port on the Mississippi River and from 1870 until the 1920 census, it was the fourth-largest city in the country. It separated from St. Louis County in 1877, becoming an independent city and limiting its political boundaries. In 1904, it hosted the Louisiana Purchase Exposition and the Summer Olympics.
Saint Louis had 42 National Banks chartered during the Bank Note Era, and 37 of those banks issued National Bank Notes.
Bank History
- Organized March 13, 1865
- Chartered May 4, 1865
- Succeeded Bank of St. Louis
- Liquidated January 17, 1899
- Absorbed by 4178 (NB of Commerce/Mercantile-Commerce NB, Saint Louis, MO)
On April 9, 1857, the directors of the Bank of St. Louis ordered the books of subscription to the capital stock be re-opened on April 23 at the banking house of John J. Anderson & Co. until July 1st. After that time the books were to be opened at the Banking House on Chestnut, between Main and Second Streets and to remain open for six months or until the full amount of stock was subscribed. John Brown was the cashier.
In December 1857, The Bank of St. Louis, whose charter allowed for an extension of capital of up to $1,000,000, was expected to go into operation without much further delay. The Bank of St. Louis was organized in 1857 and remained in business until it became the St. Louis National Bank of St. Louis in 1865. Presidents of the Bank of St. Louis included John J. Anderson (1862) and Richard P. Hanenkamp (1864).
In June 1861, the Bank of St. Louis and branches reported total resources of $1,407,702.67. The bank had capital stock $601,590, surplus $23,180.34, circulation $549,700, and deposits of $143,746.15. William E. Burr was cashier of the Branch of the Bank of St. Louis at Boonville.
In January 1871, the directors were Thomas Allen, William E. Burr, Nathan Cole, R.P. Hanenkamp, S.H. Ladin, Nich. Schaeffer, F. Mitchell, B. Stickney and James H. Wear. [James Wear is the great grandfather of President George Herbert Walker Bush and the great great-grandfather of President George Walker Bush]
On December 17, 1865, John O'Fallon, a prominent St. Louis businessman, philanthropist, and military officer, died in St. Louis. He was born in November 1791 near Louisville, Kentucky, then a small trading post. His mother was a sister of General George Rogers Clark who settled the town of Louisville. When he was 19, he joined the army of General Harrison at Vincennes, Indiana and campaigned against the Indians which ended in the battle of Tippecanoe. Shortly after the battle he received a subaltern's commission in the First Regiment of US Infantry and arrived in St. Louis in January 1812. He would join General Harrison in October at Franklinton, opposite Columbus, and was appointed to his staff. In the autumn of 1813, he was at the battle of the river Thames, still Harrison's aid-de-camp. At the close of the war in 1815, Colonel O'Fallon was the commandant of Fort Malden in Canada, opposite the mouth of the Detroit River. In August 1818, he resigned his commission and turned his attentions to business in St. Louis or its vicinity. He was elected to the Legislature in the same year and served with honor for four years, the last two being a member of the Senate. When the United States Bank was in existence, Colonel O'Fallon was among the most prominent of its supporters in the West. He was president of the branch bank at St. Louis and succeeded in winding up its affairs upon the destruction of the mother bank with loss of only $125.
In March 1877, St. Louis National Bank occupied Room 113, Chestnut Street Corner, Chamber of Commerce Building, fronting on Third Street, between Chestnut and Pine. Wm. E. Burr, president; Nathan Cole, vice president; R.A. Betts, cashier. Capital $500,000, surplus $250,000.
On January 28, 1890, it was announced that Mr. L.C. Nelson would succeed to the Presidency of the St. Louis National Bank. Mr. Nelson, formerly of the firm of Nelson & Noel, and also ex. Vice president of the Laclede Bank, would succeed Mr. W.E. Burr as President of the St. Louis National Bank, Mr. Burr going out of business entirely, except to remain as a director of the bank. Mr. Burr was one of the oldest bankers in St. Louis, having built up the St. Louis National. There was an indication of the change at the annual election when Messrs. Nelson and Noel were elected directors, and when Mr. Nelson was selected for Vice President. Mr. Nelson's father had for years ranked with Mr. Burr as the largest stockholder of the bank. The election had been brought about by the purchase by Nelson and Noel of an amount of stock which practically gave them control, as they had 2,000 out of the 5,000 shares, including that purchased from Mr. Burr. The purchase was made at $150 a share, $50 above par, and $160 had since been offered for shares. As it was refused, this settled the rumors that the St. Louis was to be consolidated with the American Exchange. The new Board of Directors was composed of Messrs. W.E. Burr, L.C. Nelson. H.M. Noel, Hugh McKittrick, L.E. Collins, J.M. Nelson, Gaius Paddock, F. Mitchell and E.R. Hoyt.
Mr. James M. Nelson, the father of L.C. Nelson, was president of the Central National Bank of Boonville, said to be the largest banking institution in the State outside of St. Louis. Mr. Burr was with him at Booneville over thirty years ago, coming to St. Louis from there. Mr. John Nickerson remained as cashier, with Mr. Wm. E. Burr, Jr., as assistant. The latter received $10,000 in stock on his father's retirement. Mr. Burr, the retiring President, started out in life young, and made a success from the very start. He was born in Paris, Kentucky, his family being one of the best In the South. His father was a man of means, but he had a very large family, and young Burr made his own way and left his father's wealth to his mother and others. In 1844 when Mr. Burr was about 17, he got a place in a bank in Lexington, Kentucky, as clerk. He married in Lexington, his wife being of one of the best and wealthiest families. He had accumulated some money during his service as a bank clerk, and coming out to Boonville, Missouri, he became identified with a bank for himself. He remained there for some time, and then came to St. Louis and opened up the St. Louis National Bank.
On March 1, 1894, William E. Burr, Jr., former cashier of the St. Louis National Bank surrendered to authorities and was released on bail. He was under bonds for the embezzlement of $57,000 of the bank's money. He paid back all but $13,000 of the amount and as his bond was $10,000, the actual loss to the bank would not exceed $3,000. The warrant was sworn out by National Bank Examiner Galbraith. For some time, Burr had been making heavy investments in various enterprises. This was called to the attention of the directors and about three months earlier a quiet investigation was done. As a result, Burr resigned on January 13. He denied having embezzled any money, but began paying back various sums. Burr, 28, was a financier from his youth, having been a clerk in the bank from its inception. He Became the assistant cashier while his father was president and shortly after Louis C. Nelson came on board and John Nickerson was cashier, he resigned and went to the Merchants National Bank where he was promoted to the position of cashier. One of his speculative investments was about $25,000 in the Tyler Desk Company, having bought the firm out. In May a grand jury handed down an indictment for embezzlement. His trial would be delayed and it wasn't until October 1895 that a plea of guilty to one of 16 counts was entered before Judge Adams in Federal court. Mr. Burr, accompanied by his attorney, ex-Governor Charles P. Johnson, called on US District Attorney Clopton and made arrangements to that end. A stay of sentence would be asked for in order that President Cleveland could have time to grant or refuse a pardon for Burr. A petition signed by many prominent St. Louisans and all of Burrs former business associates asking that Burr be pardoned was presented to President Cleveland several months ago. While the President had the power to pardon an individual before trial and even before indictment, Mr. Cleveland had never exercised that power, but had taken the stand that he would not look into the merits of the case until some judicial action had been taken. On January 27, 1896, William E. Burr, Jr. was sentenced by Judge Adams in the United States District Court to five years in the state penitentiary. President Cleveland refused to grant a pardon before sentence was passed. On December 23, 1897, Burr was pardoned by President McKinley. The pardon was recommended by Attorney General McKenna who had received petitions of clemency from R.C. Kerens, national Republican committeeman, the two Democratic senators from Missouri and many other influential people of the state. During his term in prison, Burr had been one of the penitentiary librarians.
On Tuesday, January 11, 1898, stockholders of the St. Louis National Bank met at the banking rooms at No. 207 North Broadway and elected the following directors: Louis Fitzgerald, Henry B. Hyde, C.G. Warner, John Scullin, Thomas H. McKittrick, A.C. Stuever, W.N. Coler, Jr., L.C. Nelson, W.T. Anderson, John Nickerson, and Eugene Karst.
On Friday, December 16, 1898, with the opening of banking hours, the St. Louis National Bank as a separate corporation had gone out of existence. Its Capital, assets and liabilities were assumed by the National Bank of Commerce. The movement of the books and effects of the St. Louis National took place while thousands were hurrying home from work along Broadway. The books of the St. Louis National were posted and the cash on hand, amounting to something over $900,000 was placed in tin boxes while the silver was in canvas bags. Under the direction of Cashier Eugene Karst, the money was placed in an express wagon and driven rapidly to the Bank of Commerce a half block away. There the cash was transferred to the cashier's office where it was counted and then stored in the vaults. At a meeting of the board of directors, Mr. Nickerson was elected second vice president of the National Bank of Commerce.
In January 1899, officers of the National Bank of Commerce were W.H. Thompson, president; Nathan Cole, vice president; John Nickerson, second vice president; J.C. Van Blarcom, cashier; B.F. Edwards, assistant cashier and C.L. Merrill, second assistant cashier. The directors were James W. Bell, George O. Carpenter, Nathan Cole, Sam'l M. Dodd, Charles D. McLure, John Nickerson, H.G. Pierce, W.H. Thompson, and J.C. Van Blarcom.
Official Bank Title(s)
1: The St. Louis National Bank, St. Louis, MO
Bank Note Types Issued
A total of $1,130,400 in National Bank Notes was issued by this bank between 1865 and 1899. This consisted of a total of 180,624 notes (180,624 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 - 10720 Original Series 4x5 1 - 13750 Original Series 3x10-20 1 - 3900 Series 1875 4x5 1 - 500 Series 1875 3x10-20 1 - 8336 1882 Brown Back 4x5 1 - 7875 1882 Brown Back 50-100 1 - 150
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1899):
Presidents:
Cashiers:
- Louis Charles Billon, 1865-1866
- Robert A. Betts, 1867-1877
- John Nickerson, 1878-1889
- William Edward Burr, Jr. , 1890-1893
- Charles Woolworth Isaacs, 1894-1896
- Eugene Karst, 1897-1898
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Missouri Bank Note History
- General information on Saint Louis (Wikipedia)
- General information on St. Louis County (Wikipedia)
- General information on Missouri (Wikipedia)
Sources
- Saint Louis, MO, 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
- Daily Missouri Republican, St. Louis, MO, Sat., Nov. 7, 1857.
- The Baltimore Sun, Baltimore, MD, Mon., Dec. 14, 1857.
- Daily Missouri Republican, St. Louis, MO, Tue., July 16, 1861.
- The Saturday Evening Press, Menasha, WI, Tue., Jan. 2, 1866.
- Westliche Post, St. Louis, MO, Fri., Jan. 13, 1871.
- St. Louis Post-Dispatch, St. Louis, MO, Thu., Mar. 8, 1877.
- St. Louis Post-Dispatch, St. Louis, MO, Tue., Jan. 28, 1890.
- The Kansas City Star, Kansas City, MO, Thu., Mar. 1, 1894.
- The State Republican, Jefferson City, MO, Thu., May 10, 1894.
- St. Joseph News-Press, St. Joseph, MO, Tue., Jan. 28, 1896.
- The St. Joseph Weekly Gazette, St. Joseph, MO, Tue., Dec. 28, 1897.
- St. Louis Globe-Democrat, St. Louis, MO, Wed., Jan. 12, 1898.
- St. Louis Globe-Democrat, St. Louis, MO, Fri., Dec. 16, 1898.
- St. Louis Post-Dispatch, St. Louis, MO, Sun., Jan. 1, 1899.