Tenth National Bank, Philadelphia, PA (Charter 3423)
Tenth National Bank, Philadelphia, PA (Chartered 1885 - Liquidated 1929)
Town History
Philadelphia is located in Philadelphia County, in the southeast corner of Pennsylvania. It is currently the sixth-most-populous city in the United States and the most populous city in the state of Pennsylvania. It is also the second-most populous city in the Northeastern United States, behind New York City.
Philadelphia is one of the oldest municipalities in the United States. William Penn, an English Quaker, founded the city in 1682 to serve as capital of the Pennsylvania Colony. It grew on the steep banks of the Delaware River into a hub of international trade and monetary influence. The royal post-office was established in this city by Franklin. Mail would pass uninterrupted from Crown to Republic, the one royal department which did so. The Colonies used the old expresses and mail routes leading up to and through the revolution. Philadelphia played an instrumental role in the American Revolution as a meeting place for the Founding Fathers of the United States, who signed the Declaration of Independence in 1776 in Carpenters' Hall, and the Constitution at the Philadelphia Convention of 1787 in Independence Hall.
Philadelphia was the second Capitol after New York City during George Washington's presidency. On April 2, 1792, the United States Mint opened its doors here with David Rittenhouse, former treasurer of Pennsylvania, the first director. The American Philosophical Society was the first scientific society in the land and still meets in the hall Franklin secured for it. Former townships and boroughs of Bristol, Richmond, Kensington, Germantown, Manayunk, Northern Liberties, Southwark, to name a few, were consolidated into Philadelphia in 1854 which then occupied all of Philadelphia County.
During the National Bank Note Era (1863-1935), the population of Philadelphia was 674,022 in 1870, growing to 1,950,961 in 1930. Its highest population was 2,071,605 in 1950, and the current population is estimated at 1,584,064 (2019).
Philadelphia had 70 National Banks chartered during the Bank Note Era, and 62 of those banks issued National Bank Notes. Philadelphia also had 27 Obsolete Banks that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).
Bank History
- Organized December 14, 1885
- Chartered December 21, 1885
- Liquidated July 1, 1929
- Absorbed by Integrity Trust Company, Philadelphia
In September 1887, the Officers were John K. Cuming, president; Barclay J. Woodward, vice president; Walter Scott, cashier. The directors were John K. Cuming, B.J. Woodward, James Strong, Ferdinand Schumann, Robert U. Jacob, Charles Class, B.F. Houseman, James A. Hayes, Charles H. Elliot, Edward A. Murphy, Edward Foerderer, Charles Wolters, and C.A. Blessing. The bank had Capital of $200,000 and Surplus of $15,000.
In January 1910, the directors of the Tenth National Bank, Broad Street and Columbia Avenue, met and made John Frederick Bauder cashier of the institution. He took the place of Walter Scott who was promoted to the presidency. The changes in officers were the result of the retirement of J.K. Cuming, president of the Tenth. Walter Scott takes his place, Charles Class remains as vice president, Mr. Bauder becomes cashier and Walter G. Scott, son of the new president, was promoted to assistant cashier.
In May, 1925, the bank announced it would open a downtown office at 116 South Fifteenth Street. A new structure was planned to replace the current one along with a small vault and modern banking conveniences. Deposits in the past 5 years had increased from $2 million to $7 million.
In January 1929, at the organization meeting of the Tenth National Bank, John F. Bauder, formerly president, was elected chairman of the board and Herbert L. Shaffer, vice president and cashier was made president. C. Harry Johnson, a member of the board was elected an additional vice president, Edward A. Murphy continuing as vice president. Ramond M. Rau was promoted to cashier. He was formerly assistant cashier. Harold C. Young was the assistant cashier.
On May 16, 1929, Directors of the Tenth National and the Integrity Trust Co. voted to consolidate the two institutions with total resources of $65 million as the Integrity Trust Co. Walker K. Hardt, president of the Integrity Trust Co. would head the new bank. On June 26, stockholders of the Tenth National approved the merger plans.
The Tenth National Bank of Philadelphia, located at 1641-3 North Broad Street, Philadelphia, Pennsylvania posted liquidation notices in July and August 1929 with Raymond M. Rau as cashier of the Association. Mr. Rau would later become an assistant vice president and Secretary of the Integrity Trust Company.
Philadelphia had all numbered titles up through Tenth, except for Fifth. It's possible the Comptroller of the Currency reserved Fifth for an organization that never perfected its charter. New York was the only other city to reach the Tenth (Charter 307). After the Tenth liquidated, only the First, Second, Sixth and Eighth national banks remained open in the City of Brotherly Love.
Official Bank Title(s)
1: The Tenth National Bank of Philadelphia, PA
Bank Note Types Issued
A total of $4,075,370 in National Bank Notes was issued by this bank between 1885 and 1929. This consisted of a total of 499,108 notes (499,108 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 4x5 1 - 7649 1882 Brown Back 3x10-20 1 - 9021 1902 Red Seal 4x5 1 - 3500 1902 Red Seal 3x10-20 1 - 1600 1902 Date Back 4x5 1 - 20150 1902 Date Back 3x10-20 1 - 16434 1902 Plain Back 4x5 20151 - 60967 1902 Plain Back 3x10-20 16435 - 42040
Bank Presidents and Cashiers
Tenth National Bank Presidents and Cashiers during the National Bank Note Era (1885 - 1929):
Presidents:
- John Knill Cuming, 1886-1909
- Walter Scott, 1910-1917
- Charles Class, 1918-1918
- John F. Bauder, 1919-1928
Cashiers:
- Walter Scott, 1886-1909
- John F. Bauder, 1910-1918
- Herbert L. Shaffer, 1919-1928
- Raymond M. Rau, 1929
Other Bank Note Signers
- C. Harry Johnson, Vice President 1929
- There are currently no known Assistant Cashier bank note signers for this bank.
Wiki Links
- Pennsylvania Bank Note History
- General information on Philadelphia (Wikipedia)
- General information on Philadelphia County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Philadelphia, PA, 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://bbdata.banknotehistory.com
- The Philadelphia Times, Philadelphia, PA, Thu., Sep. 15, 1887.
- Philadelphia and Notable Philadelphians, Moses King, Blanchard Press, Isaac H. Blanchard Co., New York, 1902.
- The Philadelphia Inquirer, Philadelphia, PA, Sat., Jan. 15, 1910.
- The Philadelphia Inquirer, Philadelphia, PA, Tue., May 26, 1925.
- The Philadelphia Inquirer, Philadelphia, PA, Sat., Jan. 12, 1929.
- The Times Leader, Wilkes-Barre, PA, Fri., May 17, 1929.
- The Philadelphia Inquirer, Philadelphia, PA, Wed., June 26, 1929.