Third National Bank, Buffalo, NY (Charter 850)

A 1913 photo of the Third National Bank of Buffalo located at Main and Swan Streets.

Third National Bank, Buffalo, NY (Chartered 1865 - Liquidated 1917)

Town History

President's Office in the Third National Bank, ca1913.

Buffalo is the second-largest city in the state of New York and the seat of Erie County. It is located at the eastern end of Lake Erie, at the head of the Niagara River, and is adjacent to the Canadian border in southern Ontario. With a population of 278,349 according to the 2020 census, Buffalo is the 76th-largest city in the United States. The city and nearby Niagara Falls together make up the two-county Buffalo–Niagara Falls Metropolitan Statistical Area (MSA), which had an estimated population of 1.1 million in 2020, making it the 49th largest MSA in the United States. Buffalo is located in Western New York, which is the largest population and economic center between Boston, Cleveland, and Pittsburgh. The population in 1860 was 81,129, peaking in 1950 at 580,132.

In the 18th century, Iroquois land surrounding Buffalo Creek was ceded through the Holland Land Purchase, and a small village was established at its headwaters. The village of Buffalo was named for Buffalo Creek. British military engineer John Montresor referred to "Buffalo Creek" in his 1764 journal, the earliest recorded appearance of the name. A road to Pennsylvania from Buffalo was built in 1802 for migrants traveling to the Connecticut Western Reserve in Ohio. Before an east–west turnpike across the state was completed, traveling from Albany to Buffalo would take a week; a trip from nearby Williamsville to Batavia could take over three days.

In 1825, after its harbor was improved, Buffalo was selected as the terminus of the Erie Canal, which led to its incorporation in 1832. The canal stimulated its growth as the primary inland port between the Great Lakes and the Atlantic Ocean. Transshipment made Buffalo the world's largest grain port of that era. After the coming of railroads reduced the canal's importance, the city became the second-largest railway hub (after Chicago). During the mid-19th century, Buffalo transitioned to manufacturing, which came to be dominated by steel production. Later, deindustrialization and the opening of the St. Lawrence Seaway saw the city's economy decline and diversify. It developed its service industries, such as health care, retail, tourism, logistics, and education, while retaining some manufacturing. In 2019, the gross domestic product of the Buffalo–Niagara Falls MSA was $53 billion.

Buffalo has a humid continental climate and temperatures have been warming with the rest of the US. Lake-effect snow is characteristic of Buffalo winters, with snow bands (producing intense snowfall in the city and surrounding area) depending on wind direction off Lake Erie.

Buffalo had 21 National Banks chartered during the Bank Note Era, and 20 of those banks issued National Bank Notes. Buffalo also had 31 Obsolete Banks that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).

Bank History

Banking Room of the Third National Bank, ca1913.

Ladies' room of the Third National Bank, ca1913.

• Organized February 14, 1865
• Chartered March 1, 1865
• Liquidated January 10, 1917
• Consolidated with 6186 (Manufacturers and Traders NB, Buffalo, NY)
• Circulation assumed by 6186 (Manufacturers and Traders NB, Buffalo, NY)

On Wednesday, February 15, 1865, the organization of the Third National Bank of Buffalo was completed with the election of the following officers: Abel T. Blackmar, president; Abraham Altman, vice president; Elisha T. Smith, cashier. The directors were A.T. Blackmar, Horace Utley, Nathan C. Simons, Robert G. Stewart, Abraham Altman, Henry Cone, Edson D. Shoemaker, Dighton H. Winans, and Thomas Chester. The bank had capital stock of $250,000 all paid in. The banking office would locate at 183 Main Street, on the east side of Main, second door from Seneca Street in the premises occupied by Mr. Carey. The institution would commence business as soon as bills for circulation could be obtained.

In March 1868, the directors were Abel T. Blackmar, Abraham Altman, Horace Utley, Chas. E. Sternberg, Dighton H. Winans, Henry Cone, Orrin Blackmar, A.L. Van Dusen, and Elisha T. Smith. The officers were Abel T. Blackmar, president; Abram Altman, vice president; and Elisha T. Smith, cashier.

In 1870, the bank was in its new location at 235 Main Street. The Report of Condition at the close of business on October 8, 1870, listed capital stock, $250,000, Surplus, $50,000, Profit $29,131.51, circulation, $228,000 and individual deposits, $356,728.17. The total resources were $1,073,861.81.

In April 1871, the bank had capital of $250,000, surplus of $50,000 and the officers were A. Altman, president; James D. Warren, vice president; and E.T. Smith, cashier. Mr. Warren had been Erie County Treasurer from 1854-1856.

In January 1883, the directors were Jacob F. Schoellkopf, Pascal P. Pratt, Emanuel Levi, Jacob Dold, Loran L. Lewis, Charles G. Curtis, John D. Hill, Robert Keating, Chas. Sweet.

About noon on February 1, 1888, the fire alarm was sounded as the great dry goods store of Barnes, Hengerer & Co. on the west side of Main between Swan and Seneca was on fire. In less than half an hour it was a complete wreck. The store was five stories in height with a massive iron front. The great iron front was seen to crackle at the sides and top and for an instant stood alone in mid-air, then tottered out for nearly fifty feet and fell with a terrible crash. Debris was scattered across Main Street. Firemen were able to save the rest of Main Street, but a number of buildings were badly damaged. The Third National Bank at 275 Main suffered water damage to the extent of $500.

In May 1893, the bank occupied the first floor of the building on Main and Swan Streets. A lease of the property for a term of 43 years was filed with the County Clerk by which the estate of the late Charles W. Harvey rented the entire block to the Third National. A clause in the lease provided that the bank could make any improvements and repairs deemed advisable. It was understood that the building would be reconstructed and modernized by the bank. In August 1893, Mr. Charles A. Sweet, president of the Third National, received the following telegram: "World's Fair Grounds, Chicago, Ill., Aug. 29, '93. C.A. Sweet, Buffalo, N.Y.: Congratulations, Ida Marigold wins first in ring against the heaviest competition that a Jersey ever met in all this world. J.J. Richardson." Mr. Sweet was well-known as the owner of a beautiful stock farm at Aurora with a herd of the finest Jersey cattle including world champion, Ida Marigold.

Mr. John Satterfield came to Buffalo about 1882 and became a director and later vice president of the Third National Bank. He was born in Greenville, Mercer County, Pennsylvania and went into the oil regions of Western Pennsylvanian and became a prominent buyer and producer.  He was a member of Vandergrift, Forman & Co. and H.L. Taylor & Co. and perhaps no operator ever had more to do with the drilling of wells and the care of producing properties than he.  About 1892 he sold his oil interests to Standard Oil.  He passed away in Paris on April 5, 1894.

On January 11, 1912, plans for the Marine National Bank building were filed with the bureau of building. The building to be erected at Main, Seneca and Washington Streets would be 14 stories high and its foundation built down to bed rock. Plans calling for alterations in the Third National Bank building at Main and Swan were also filed. The improvements entailed an outlay of $25,000.

In 1913, the Third National Bank took possession of their new quarters in the reconstructed building at the southeast corner of Main and Swan Streets which for so many years had been its home. One entered through the artistic, iron-barred doors and found the officers' quarters to the right, then the cages of the various tellers occupying two sides of the office. The room ended to the left of the entrance with the women's teller in connection with whose cage there was the women's room equipped with tables and chairs and other conveniences. The great vaults and storerooms were now located in the basement. The desks and cages were of the richest mahogany with great panes of exquisite grain and texture and finely finished. The metal fittings of the cages and the electric light fittings were of dull finished brass. Oriental rugs decorated the floors. The directors' room was on the second floor reached by a private stairway. The remainder of the second floor was for the offices of the bank's attorneys, O'Brian & Hamlin. The other floors were for general office purposes.

President J.W. Robinson, head of the Robinson Brothers Lumber Company of North Tonawanda, was known for his sound business judgement. For many years he was closely identified with business interests in Buffalo where he has resided for the past 20 years. Vice President W.F. Hopkins was credited for having worked out the details of the bank's reconstructed home. Before coming to Buffalo, Mr. Hopkins was cashier of the Peninsular State Bank of Detroit. Prior to that he was connected with the extensive business interest of the Mathers of Cleveland and was vice president of two of their Michigan banks. Cashier George A. Drummer was with the bank for many years and thoroughly knew the banking business. His assistants were C.J. Ritter and B.C. Ralph, the later was also the paying teller, both having served the Third National for a long time.

On the board of directors in 1913, besides the president, vice president and cashier, were Howard H. Baker, postmaster of Buffalo under President Cleveland and long connected with shipping interests of the city and a vice president of the bank; Robert Keating of the old leather firm of Root & Keating; John N. Scatcherd, lumber dealer; William B. Hoyt, attorney for many large business interests; M.F. Windsor, dealer in live stock; Charles M. Clarke, insurance; Philos G. Cook of the Western Elevator Association; John H. Edwards, manager of the Robinson Brothers Lumber Co.; George F. Sowerby, lumber dealer; Pliny B. McNaughton, contractor; Chaunchy J. Hamlin, attorney; and Walter F. Semon of the Frontier Iron Works.

On Tuesday, January 11, 1916, the stockholders of the Third National Bank elected these directors: Howard H. Baker, Charles M. Clarke, Russell A. Cowles, Herbert E. Crouch, George A. Drummer, John H. Edwards, Edward A. Elsele, George W. Farnham, Cyril F. Ginther, Willard F. Hopkins, Alfred F. Laub, Benjamin Lissberger, William A. Morgan, John F. Nagel, John W. Robinson, George F. Sowerby, Maurice C. Spratt, and Millard F. Windsor. The next day the directors elected the following officers: John W. Robinson, president; William A. Morgan, W.F. Hopkins, Howard H. Baker, vice presidents; George A. Drummer, cashier; C.J. Ritter, B.C. Ralph, and H.J. Benson, assistant cashiers; and T. Allison Moore, auditor.

In November 1916, an epoch marking the year in Buffalo's financial history, the Manufacturers and Traders National Bank acquired the assets and good will of the Third National Bank which passed out of existence. Through this merger the M&T bank increased its resources to $45 million, gaining $9,370,000 by the deal. Shortly afterward the capital stock was increased from $1 million to $2 million. William A. Morgan who was president of the Third National just prior to the merger was taken into the directorate of the M&T following the merger.

Official Bank Title

1: The Third National Bank of Buffalo, NY

Bank Note Types Issued

Original Series $5 bank note with pen signatures of E.T. Smith, Cashier and A. Altman, President. Courtesy of Heritage Auctions, www.ha.com

1902 Red Seal $10 bank note with printed signatures of George A. Drummer, Cashier and L.L. Lewis, President. Courtesy of Heritage Auctions, www.ha.com

1902 Date Back $100 bank note with printed signatures of George A. Drummer, Cashier and John W. Robinson, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

A total of $4,570,250 in National Bank Notes was issued by this bank between 1865 and 1917. This consisted of a total of 448,708 notes (448,708 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 - 4500
Original Series	4x5	1 - 6000
Original Series	3x10-20	1 - 3350
Original Series	50-100	1 - 800
Series 1875	4x5	1 - 2370
Series 1875	3x10-20	1 - 1130
Series 1875	50-100	1 - 388
1882 Brown Back	50-100	1 - 4676
1902 Red Seal	4x5	1 - 9080
1902 Red Seal	3x10-20	1 - 3630
1902 Red Seal	50-100	1 - 946
1902 Date Back	4x5	1 - 41415
1902 Date Back	3x10-20	1 - 26900
1902 Date Back	50-100	1 - 1400
1902 Date Back	3x50-100	1 - 310
1902 Plain Back	4x5	41416 - 46695
1902 Plain Back	3x10-20	26901 - 31007

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1917):

Presidents:

• Abel Trowbridge Blackmarr, 1865-1868
• Abraham "Abram" Altman, 1869-1880
• Charles A. Sweet, 1881-1902
• Nathaniel Rochester, 1903-1905
• Loran Ludowick Lewis, 1907-1908
• John Willoughby Robinson, 1909-1916
• William Arthur Morgan Sr., 1916-1916

Cashiers:

• Elisha T. Smith, 1865-1875
• Samuel A. Provoost, Jr., 1876-1881
• Benjamin Barton Hamilton, 1882-1884
• Nathaniel Rochester, 1885-1902
• George A. Drummer, 1903-1916

Other Known Bank Note Signers

• No other known bank note signers for this bank

Bank Note History Links

• Third National Bank, Buffalo, NY History (NB Lookup)
• New York Bank Note History (BNH Wiki)

Sources

• Buffalo, NY, 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