Third National Bank/First NB, St. Louis, MO (Charter 170)
Third National Bank/First NB, St. Louis, MO (Chartered 1863 - Closed (Merger) 1986)
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
- Chartered Dec 25, 1863
- Succeeded Southern Bank of St. Louis
- 1: Bought 4575 April 1, 1897 (Chemical National Bank, Saint Louis, MO)
- 1: Assumed 7715, (Mechanics-American NB, Saint Louis, MO) and 11366 (No Issue) (The St. Louis Union NB) by consolidation July 7, 1919, with title change and assumed circulation of 7715
- 2: Assumed Liberty Central Trust Co., St. Louis by consolidation March 23, 1929
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Merged into Centerre Bank of South County, N.A. in St. Louis County, MO, February 6, 1986
Southern Bank of St. Louis
The Southern Bank of St. Louis was chartered by the General Assembly of Missouri for 1856-1857 with a capital of $1,000,000. The bank went into operation on Tuesday, June 16, 1857. James S. Watson was president and Jas. H. Britton, cashier. The bank opened on Pine Street near Main with $110,600 of paid in stock and remained there until November 25, 1874, when it moved into new quarters at 417 Olive Street where it remained until erection of a building occupied in 1908.
In April 1861, the aggregate quarterly statement of the Southern Bank of St. Louis and its branches showed resources of $3,007,527.98. E.B. Kimball was president and J.H. Britton, cashier. Branches were at Independence, James T. Thornton, cashier; St. Charles, W.W. Orrick, cashier; and Savannah, E.C. Breck, cashier.
Third National Bank of St. Louis
On December 25, 1863, the Comptroller of the Currency, Hugh McCulloch, authorized the Third National Bank of St. Louis to commence business. The Southern Bank of St. Louis became a national bank by the name of The Third National Bank of St. Louis. All assets of the Southern Bank were turned over to the Third National, and the Third assumed and would liquidate all liabilities of the Southern Bank. J.H. Britton was cashier.
On November 1, 1866, James H. Britton was elected president of the National Bank of the State of Missouri. A.S. Robinson was cashier.
On Tuesday, January 13, 1874, the stockholders elected the following directors: Thomas Slevin, John Jackson, Oliver B. Filley, James F. How, Fred. A. Churchill, Darwin W. Marmaduke, Alfred M. Britton, John R. Lionberger, Thos. E. Tutt. The officers elected were Jno. R. Lionberger, president; Jno. Jackson, vice president; Thos. A. Stoddart, cashier.
In September 1876, the Third National was one of the strongest banks in the city with capital of $1,000,000 and a very large commercial business. John R. Lionberger, the president, was in Europe and the bank was under the management of Thomas E. Tutt, the vice president.
In January 1905, the directors were G.W. Brown, Geo. T. Cram, J.R. Cooke, Jno. N. Drummond, Norris B. Gregg, G.W. Galbreath, C.H. Huttig, H.F. Knight, P.A. Valentine, Thos. Wright, W.B. Wells, F. Weyerhaeuser, and B.F. Yoakum. The officers were C.H. Huttig, president; W.B. Wells, vice president; G.W. Galbreath, cashier; J.R. Cooke, D'A.P. Cooke, and J.B. Arnold, assistant cashiers.
In January 1911, the officers were C.H. Huttig, president; W.B. Wells, vice president; G.W. Galbreath, cashier; J.R. Cooke, D'A.P. Cooke, R.S. Hawes, and H. Haill, assistant cashiers. In March 1911, F.O. Watts, president and William Livingston, vice president of the American Bankers' Association were the guests of Charles H. Huttig, president of the Third National Bank and one of the directors of the association. The occasion of their visit was a meeting of the committee which was outlining plans for a currency reform.
In June 1912, a dispatch from Nashville stated F.O. Watts, president of the First National Bank of Nashville, Tenn. had been asked to join the Third National Bank of St. Louis in a high official capacity and accepted the post. His salary would be $25,000 a year and Watts would be either president or vice president. President Huttig had been out of active connection having undergone two surgical operations since becoming ill last Fall. Thomas Wright, vice president was acting president with Richard S. Hawes, vice president as the next executive officer. The health of vice president Galbreath broke down some weeks earlier and he was in San Bernardino County, California, where he owned a ranch. Watts arrived at St. Louis' Hotel Jefferson with his wife on Saturday, June 22d. In September 1912, the officers were C.H. Huttig, president; F.O. Watts, T. Wright, and R.S. Hawes, vice presidents; J.R. Cooke, cashier; D'A.P. Cooke, H. Haill, and E.C. Stuart, assistant cashiers.
First National Bank in St. Louis
The First National Bank in St. Louis began business on July 7, 1919, at Broadway and Locust as a consolidation of the St. Louis Union Bank, Mechanics-American National Bank, and Third National Bank. On July 14, 1919, the St. Louis Union Trust Co. took over the quarters formerly occupied by the St. Louis Union Bank at Fourth and Locust Streets. It formerly used these quarters jointly with the bank which recently merged with the Mechanics-American National and the Third National to form the new First National Bank in St. Louis. The St. Louis Union National was chartered as a national bank on June 4th and liquidated on July 7, 1919. Frank V. Dubrouillet was treasurer of the St. Louis Union Trust Co. and briefly cashier of the St. Louis Union National Bank (Charter 11366). The Safe Deposit Department of the St. Louis Union Trust Co. would handle the Safe Deposit and Trust business of the First National Bank in St. Louis, serving patrons of both the trust company and the bank at the Fourth and Locust Streets location until the new permanent building of the First National Bank was completed.
The plans were the result of deliberations underway between N.A. McMillan, chairman of the board of the St. Louis Union Bank and one of the Executive managers of the First National Bank, and Walker Hill, president of the Mechanics-American National Bank, and F.O. Watts, president of the Third National Bank. F.O. Watts would be the president of the First National Bank and N.A. McMillan, Walker Hill and F.O. Watts, executive managers. The erection of a new building would commence September 15th and plans called for the completion of the building by December 31st, 1920. Mauran, Russell, & Crowell of St. Louis, together with Cass Gilbert of New York, were the architects. The St. Louis Union Trust Co. through James H. Grover, vice president, negotiated the property deal for the northwest corner of 7th and Locust Streets. The St. Louis Union Trust Co. several months earlier had purchased the Shepley estate property with a view towards erecting its own home there. Later when the St. Louis Union Bank which was affiliated with the St. Louis Union Trust Co. became part of the merger, steps were taken to acquire additional property in order to accommodate the consolidated banks as well as the trust company at the same location. The final deal was consummated with the purchase of two lots known as the Henrietta Ewald property and the Thomas Dunn property, thus giving a total frontage on 7th street of 164 feet. Frontage on Locust street was 127 1/2 feet running the entire half block to the alley. The total consideration was said to be over a million dollars.
In 1921, the First National Bank in St. Louis was the largest national bank west of the Mississippi with capital and surplus of $15 million. The directors were N.A. McMillan, executive manager; Walker Hill, executive manager; F.O. Watts, president; Eugene H. Angert, Jones, Hocker, Sullivan & Angert, attorneys at law; W.C. Arthurs, president, Mt. Vernon Car Manufacturing Co.; James F. Ballard, Manufacturer & Wholesale dealer in proprietary medicines; Joseph D. Bascom, chairman of the board, Broderick & Boscom Rope Co.; John I. Beggs, president & general manager, St. Louis Car Co.; William K. Bixby; Robert S. Brookings, president, Washington University; Geo. Warren Brown, chairman of board, Brown Shoe Co.; Aug. A. Busch, president, Anheuser-Busch; L. Ray Carter, Carter Commission Co., B.B. Culver, president, Wrought Iron Range Co.; Wm. H. Danforth, president, Ralston Purina Co.; Thos. H. West; John T. Davis; F.B. Eiseman, vice president, rice-Stix Dry Goods Co.; John D. Filley, president, American Mfg. Co.; John Fowler; S.H. Fullerton, president, Chicago Lumber & Coal Co.; Warren Goddard, wholesale grocery; Benjamin Gratz, Warren, Jones & Gratz; John L. Green, president, Laclede-Christy Clay Products Co.; Norris B. Gregg, vice president National Lead Co.; E.W. Grove, president, Paris Medicine Co.; Jackson Johnson, chairman of board, International Shoe Co.; Robert McK. Jones, Dry Goods Commission; John B. Kennard, president, J. Kennard & Sons Carpet Co.; H.H. Langenberg, president, Langenberg Bros. Grain Co.; James Y Lockwood, treasurer, Southern Coal, Coke & Mining Co.; E.K. Ludington, president, Chase Bag Co.; Edw. Mallinckrodt, president, Mallinckrodt Chemical Co.; E.D. Nims, president, Southwestern Bell Telephone System; H.L. Parker, chairman of board, Emerson Electric Mfg. Co.; John F. Shepley, president, St. Louis Union Trust Co.; Moses Shoenberg, vice president, May Department Stores Co. and member of firm, Sydney M. Shoenberg Securities Co.; A.J. Siegel, president, Huttig Sash & Door Co.; George W. Simmons, vice president, Simmons Hardware Co.; Wallace D. Simmons, president, Simmons Hardware Co.; M.E. Singleton, president, Missouri State Life Insurance Co.; James E. Smith; J. Clark Streett, J.D. Streett & Co.; and M.B. Wallace, chairman of board, Cupplers Co. and president, Union Bag & Paper Corporation.
The Liberty Central Trust Co. was formed in November 1920 by consolidation of the Central National Bank and the Liberty Bank. The Liberty Bank was the successor of the old German Savings Institution founded in 1853. Its name was changed in 1915 during the war-time prejudice against German names. The Liberty Central had been without a chairman of the board since 1925 when J.L. Johnston sold his stock to Felix E. Gunter and retired from business.
In February 1929, with mergers of four large St. Louis banks into two in the previous two months, rumors of additional mergers were reported in a race for the envied position of "largest bank in St. Louis." Reports included one that directors of the First National Bank and the Liberty Central Trust Co. were discussing a union. The Boatmens Bank which was linked with the Bank of Commerce in a conversion last summer was mentioned as a possible partner for the State National Bank. Among the outlying banks, the South Side National Bank was formed recently by a merger of the South Side Trust Co. and the Farmers' and Merchants' Bank. In recent years, the tendency across the nation for bank mergers creating large financial houses had been observed, the explanation given that the growth of business and size of bank loans had placed the large banks in a better position to bid on big financial items.
| Bank | Resources |
|---|---|
| Mercantile-Commerce | 164,965,696 |
| First National Bank | 160,095,094 |
| Liberty Central Trust Co. | 53,082,892 |
| Mississippi Valley-Merchants | 82,145,510 |
| Franklin-American Trust Co. | 33,625,044 |
| Boatmens Bank | 28,669,587 |
| State National Bank | 23,065,790 |
| National City Bank | 19,120,454 |
| United States Bank | 9,493,769 |
| South Side National Bank* | 9,493,769 |
On February 11, 1929, the consolidation of the First National and the Liberty Central Trust Company was approved by the two boards of directors. The new First National Bank continuing under its old name would have resources of more than $200 million. The merged bank was expected to be in operation in the present quarters of the First National at the southwest corner of Broadway and Locust Street by March 15th or shortly thereafter. Frank O. watts and Walter W. Smith would remain chairman of the board and president, respectively, while Felix E. Gunter, president of the Liberty Central, would become vice chairman of the board. The reorganized First National would have a capital of $11 million, surplus of $5 million and undivided profits of $4 million. Capital, surplus and undivided profits of the two banks totaled $21,597,866. First National stockholders would receive new stock on a share-for-share basis while the remaining $1 million par value of stock would be exchanged for the $3 million par value of Liberty Central stock on a one-for-three basis. The Liberty Central stockholders would retain their equity in the bank's building at the southwest corner of Broadway and Olive Street said to be worth about $1,500,000. Sale of the building and distribution of proceeds was expected. According to comparative tables, the new First National Bank would rank 35th in size in the U.S. and 67th in the world.
Official Bank Title(s)
1: The Third National Bank of Saint Louis, MO
2: First National Bank in (7/7/1919), St. Louis, MO
Bank Note Types Issued
A total of $28,792,000 in National Bank Notes was issued by this bank between 1863 and 1935. This consisted of a total of 2,845,150 notes (2,486,188 large size and 358,962 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1: Original Series 3x1-2 1 - 27000 1: Original Series 4x5 1 - 13500 1: Original Series 4x10 1 - 9500 1: Original Series 3x20-50 1 - 7400 1: Series 1875 3x20-50 1 - 3970 1: 1882 Brown Back 3x10-20 1 - 61176 1: 1902 Red Seal 4x5 1 - 35000 1: 1902 Red Seal 4x10 1 - 10000 1: 1902 Red Seal 50-100 1 - 18000 1: 1902 Date Back 4x5 1 - 175165 1: 1902 Date Back 4x10 1 - 143670 1: 1902 Date Back 3x50-100 1 - 2000 1: 1902 Plain Back 4x5 175166 - 190165 1: 1902 Plain Back 4x10 143671 - 151670 2: 1902 Plain Back 3x10-20 1 - 101166 2: 1929 Type 1 6x10 1 - 45169 2: 1929 Type 1 6x20 1 - 14658
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1863 - 1935):
Presidents:
- Ezekiel Bullard Kimball, 1863-1864
- James Henry Britton , 1865-1866
- John R. Lionberger, 1867-1875
- Thomas Edward Tutt , 1876-1889
- George Taylor Cram, 1890-1897
- Charles Henry Huttig , 1898-1912
- Frank Overton Watts, 1913-1928
- Walter W. Smith , 1929-1935
Cashiers:
- James Henry Britton , 1863-1864
- Thomas Armat Stoddart, 1865-1895
- George Wahington Galbreath, 1896-1910
- John Rutherford Cooke, 1911-1918
- Charles Ludwig Allen, 1919-1935
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 St. Louis (Wikipedia)
- General information on St. Louis County (Wikipedia)
- General information on Missouri (Wikipedia)
Sources
- St. 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
- The bankers' Magazine, Vol. 98, Jan. 1919-June 1919, pp 711-713.
- The Bankers' Magazine, Vol. 102, Jan. 1921-June 1921, p. 1068.
- Glasgow Weekly Times, Glasgow, MO, Thu., June 18, 1857.
- Daily Missouri Republican, St. Louis, MO, Sat., Apr. 6, 1861.
- Daily Missouri Republican, St. Louis, MO, Sun., Jan. 3, 1864.
- Daily Missouri Republican, St. Louis, MO, Mon., Nov. 5, 1866.
- The St. Louis Republican, St. Louis, MO, Wed., Jan. 14, 1874.
- St. Louis Globe-Democrat, St. Louis, MO, Sat., Sep. 2, 1876.
- St. Louis Republic, St. Louis, MO, Sun., Jan. 22, 1905.
- The St. Louis Star and Times, St. Louis, MO, Tue., Jan. 10, 1911.
- The St. Louis Star and Times, St. Louis, MO, Sat., Mar. 25, 1911.
- St. Louis Globe-Democrat, St. Louis, MO, Sat., June 8, 1912.
- St. Louis Post-Dispatch, St. Louis, MO, Sun., June 23, 1912.
- St. Louis Post-Dispatch, St. Louis, MO, Fri., Sep. 6, 1912.
- The Jewish Voice, St. Louis, MO, Fri., June 13, 1919.
- The St. Louis Star and Times, St. Louis, MO, Tue., July 8, 1919.
- St. Louis Post-Dispatch, St. Louis, MO, Mon., July 14, 1919.
- St. Louis Post-Dispatch, St. Louis, MO, Tue., July 15, 1919.
- St. Louis Globe-Democrat, St. Louis, MO, Tue., Feb. 5, 1929.
- St. Louis Post-Dispatch, St. Louis, MO, Sat., Feb. 9, 1929.
- St. Louis Post-Dispatch, St. Louis, MO, Tue., Feb. 12, 1929.