Steelton National Bank, Steelton, PA (Charter 3599)

Postcard of the Steelton National Bank, Steelton, Pennsylvania ca.1920. Courtesy of Mark Hotz

Steelton National Bank, Steelton, PA (Chartered 1886 - Liquidated 1928)

Town History

Photo of the Steelton National Bank (left) and Peoples Bank (right) on the corner of Front and Locust Streets, ca. 2021. Courtesy of Google Maps

Steelton is a borough in Dauphin County, Pennsylvania, located 4 miles southeast of Harrisburg. The population was 5,990 at the 2010 census. In 1900, the population was 12,086, peaking in 1910 at 14,246. The borough is part of the Harrisburg–Carlisle Metropolitan Statistical Area.

By the 1800s, the area was owned by the Kelker family of Harrisburg. The 100-acre area was chosen in 1866 by Samuel Morse Felton Sr., president of the Pennsylvania Steel Company, to begin construction of a steel mill. This particular site was favored because of the location's proximity to the Pennsylvania Railroad, the Pennsylvania Canal, and the nearby iron mine in Cornwall, Lebanon County. The land was purchased from owners Henry A. and Rudolph F. Kelker; then, steel pioneer Alexander Lyman Holley was chosen to build the mill along the Susquehanna River, which was completed by 1867 (along with a mansion for Felton), and began operation on May 15, 1868. Originally named "Baldwin" after Matthew Baldwin, founder of the Baldwin Locomotive Works, by 1871 it had changed to "Steel Works" due to the existence of another Baldwin, Pennsylvania Post Office, and finally "Steelton" in 1879 after confusion of the Post Office with the steel mill itself. It was incorporated as a borough on January 19, 1880. The extensive steel works of the Pennsylvania Steel Company later became operated by Bethlehem Steel, ArcelorMittal, and currently Cleveland-Cliffs. Also present at one time were brickyards, a flouring mill, and machine shops. Front Street in Steelton has long been the town's social center, with shops, banks, churches, restaurants and bars.

Steelton had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.

Bank History

Organized December 2, 1886
Chartered December 9, 1886
Liquidated June 30, 1928
Absorbed by Steelton Trust Company, Steelton

On November 6, 1886, stockholders of the Steelton National Bank met and elected the following directors: Luther S. Bent, Steelton; James Young, Middletown; D.L. Jauss, Harrisburg; George W. Cumbler, Steelton; Martin Good, Highspire; Joseph J. Baughman, New Cumberland; M.F. Snavely, Churchville; Eben Bent, Steelton; John E. Rutherford, Harrisburg; John B. Litch, Steelton; and O.P. Bricker, Lancaster. The capital was fixed at $75,000.

On January 11, 1898, stockholders met at the banking house on South Front Street and re-elected the following directors: Luther S. Bent, D.L. Jauss, J.B. Litch, E.C. Felton, S.C. Young, O.P. Bricker, G.W. Cumbler, Martin Good, Samuel Couffer, J.J. Baughman, and J.E. Rutherford.

In March 1899, W.J. Snavely, cashier since the institution's beginning, tendered his resignation. R.M. Rutherfor, paying teller, became the acting cashier.

In January 1900, stockholders elected the following directors: Luther S. Bent, D.L. Jauss, J.B. Litch, E.C. Felton, S.C. Young, Martin Good, Samuel Couffer, George W. Cumbler, O.B. Bricker, J.J. Baughman, and J.E. Rutherford. In November, Mr. Harry Stubbs who was a teller, received notice of his election as cashier of the First National Bank of Delta. A year later, Stubbs tendered his resignation as cashier of the Delta bank effective January 1, 1902. It was understood he would become cashier of the Steelton National at a handsome increase in salary.

On January 14, 1902, stockholders elected the following directors: Luther S. Bent, D.L. Jauss, John B. Litch, E.C. Felton, S. Cameron Young, Martin Good, Daniel Couffer, George W. Cumbler, O.B. Bricker, Joseph J. Baughman, and J.E. Rutherford. The following week the board of directors elected Robert M. Rutherford, president; W.E. Abercrombie, vice president; and H.W. Stubbs, cashier. The directors of the Steelton National Bank decided to form a trust company to be conducted on an independent basis, but in harmony with the interests of the national bank. The new institution was to be known as the Steelton Trust Company with capital of $125,000 composed of 2,500 shares of $50 par value. Application for a charter was made at Harrisburg and the company was co-located in the building of the national bank on Front Street. It was charted by the state department on March 3, 1902 with the following subscribers: L.S. Bent, Overbrook; E.C. Felton, Haverford; D.L. Jauss, Edward Bailey, J.E. Rutherford, Harrisburg; J.B. Litch, Robert M. Rutherford, Samuel Couffer, G.W. Cumbler, W.E. Abercrumbie, Steelton; O.P. Bricker, Lancaster; J.J. Baughman, New Cumberland; and S. Cameron Young, Middletown. Charles F. Zimmerman, a future president of the First National Bank of Huntingdon (Charter 31), was offered a position and in 1906 became treasurer of the trust company.

Postcard of the Steelton National Bank, ca. 1920. Courtesy of Mark Hotz

Preparations were made for the erection of a new banking house at Front and Locust streets for the new Steelton Trust Company. A two story building built of brick was planned. Officials of the Steelton National Bank and Steelton Trust Company made preparations to move into their new building which occurred on Monday November 2, 1903. The new People's Bank took possession of the vacated quarters. The People's Bank opened November 16, 1903 with William Nell, cashier and Ross Frey, clerk.

In January 1911, the directors were: Luther S. Bent, D.L. Jauss, John B. Litch, S. Cameron Young, Martin Good, Samuel Couffer, Charles C. Cumbler, J.V.W. Reynders, Joseph J. Baughman, W.E. Abercrombie, J.E. Rutherford, Robert M. Rutherford, and Edward Bailey.

On January 9, 1917, the stockholders re-elected the following directors: Joseph J. Baughman, J.E. Rutherford, John B. Litch, S. Cameron Young, Quincy Bent, W.E. Abercrombie, R.M. Rutherford, M.A. Cumbler, C.C. Cumbler, Edward Bailey, Harry L. Dress and Felton Bent. The bank sold all its bonds which secured a circulation of $103,000 the previous year and no longer issued new national bank notes.

In January 1926, stockholders re-elected the following directors: S.C. Young, Robert M. Rutherford, M.A. Cumbler, C.C. Cumbler, Edward Bailey, Harry L. Dress, Mark Mumma, Thomas J. Nelley, W.F. Houseman, John A. McCurdy, H.W. Stubbs, and Ralph C. Eckels.

In January 1928, the directors were re-elected with no changes since 1926. At the directors meeting on Tuesday, January 17, 1928, directors elected Robert M. Rutherford president, M.A. Cumbler, vice president; H.W. Stubbs, cashier; and H.C. Deik and Charles F. Beshore, assistant cashiers. In April 1928, the merger of the Steelton National Bank and the Steelton Trust Company was announced. The new institution's title was the Steelton Bank and Trust Company. Stockholders of the banks approved the merger in May. The new bank opened on July 2, 1928 with capital of $350,000; surplus and undivided profits of $500,000 and total resources of over $3 million. The two banks had the same management and officers and they remained in charge of the merged institution. Robert M. Rutherford was president.

Official Bank Title(s)

1: The Steelton National Bank, Steelton, PA

Bank Note Types Issued

1902 Red Seal $10 bank note with stamped signatures of H.W. Stubbs, Cashier and R.M. Rutherford, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

A total of $1,320,800 in National Bank Notes was issued by this bank between 1886 and 1928. This consisted of a total of 105,664 notes (105,664 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 - 5695
1902 Red Seal	3x10-20	1 - 3750
1902 Date Back	3x10-20	1 - 15500
1902 Plain Back	3x10-20	15501 - 16971

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1886 - 1928):

Presidents:

Cashiers:

Other Bank Note Signers

There are currently no known Vice President or Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

Steelton, PA, Wikipedia, https://en.wikipedia.org/wiki/Steelton,_Pennsylvania
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
Harrisburg Telegraph, Harrisburg, PA, Sat., Nov. 6, 1886.
Harrisburg Telegraph, Harrisburg, PA, Tue., Jan. 11, 1898.
Harrisburg Telegraph, Harrisburg, PA, Tue., Mar. 18, 1899.
Harrisburg Telegraph, Harrisburg, PA, Tue., Jan. 11, 1900.
Harrisburg Telegraph, Harrisburg, PA, Mon., Nov. 19, 1900.
The York Dispatch, York, PA, Sat., Nov. 23, 1901.
Harrisburg Telegraph, Harrisburg, PA, Tue., Jan. 14, 1902.
Harrisburg Telegraph, Harrisburg, PA, Tue., Jan. 28, 1902.
Harrisburg Telegraph, Harrisburg, PA, Mon., Mar. 3, 1902.
Harrisburg Telegraph, Harrisburg, PA, Mon., June 9, 1902
Harrisburg Telegraph, Harrisburg, PA, Sat., Oct. 10, 1903.
Harrisburg Telegraph, Harrisburg, PA, Thu., Oct. 15, 1903.
Harrisburg Telegraph, Harrisburg, PA, Sat., Nov. 14, 1903.
Harrisburg Telegraph, Harrisburg, PA, Tue., Jan. 10, 1911.
Harrisburg Telegraph, Harrisburg, PA, Tue., Jan. 9, 1917.
Harrisburg Telegraph, Harrisburg, PA, Tue., Jan. 8, 1918.
The Evening News, Harrisburg, PA, Tue., Jan. 10, 1928.
The Evening News, Harrisburg, PA, Tue., Jan. 17, 1928.
The News-Chronicle, Shippensburg, PA, Tue., Apr. 24, 1928.
Harrisburg Telegraph, Harrisburg, PA, Thu., June 28, 1928.