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Third National Bank/Third NB & TC, Scranton, PA (Charter 1946)

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Photo of the Third National Bank of Scranton
Photo of the Third National Bank of Scranton, ca1890s. The building to the left was replaced by the Scranton Savings Bank. Courtesy of Adam Stroup

Third National Bank/Third NB & TC, Scranton, PA (Chartered 1872 - Closed (Merger) 1994)

Town History

Check from the Third National Bank of Scranton
Check dated June 2d, 1900 from the Third National Bank of Scranton. Courtesy of Adam Stroup

Scranton is a city in Pennsylvania and the county seat and largest city of Lackawanna County in Northeastern Pennsylvania's Wyoming Valley. With a population of 76,328 as of the 2020 United States Census, Scranton is the largest city in northeastern Pennsylvania and the Scranton–Wilkes-Barre–Hazleton Metropolitan Statistical Area, which has a population of about 570,000, and the sixth largest city in Pennsylvania after Philadelphia, Pittsburgh, Allentown, Reading, and Erie. In 1860 the population was 9,223, growing to 75,215 in 1890 and peaking in 1930 at 143,433.

Scranton is the largest of the former anthracite coal mining communities in a contiguous quilt-work that also includes Wilkes-Barre, Nanticoke, Pittston and Carbondale. Scranton was incorporated on February 14, 1856, as a borough in Luzerne County and as a city on April 23, 1866. It became a major industrial city and a center of mining and railroads; it attracted thousands of new immigrants. It was the site of the Scranton General Strike in 1877.

People in northern Luzerne County sought a new county in 1839, but the Wilkes-Barre area resisted losing its assets. Lackawanna County did not gain independent status until 1878. Under legislation allowing the issue to be voted by residents of the proposed territory, voters favored the new county by a proportion of 6 to 1, with Scranton residents providing the major support. The city was designated as the county seat when Lackawanna County was established in 1878, and a judicial district was authorized in July 1879.

The city's nickname "Electric City" began when electric lights were introduced in 1880 at the Dickson Manufacturing Company. Six years later, the United States' first streetcars powered only by electricity began operating in the city. Rev. David Spencer, a local Baptist minister, later proclaimed Scranton as the "Electric City".

Scranton is 76 miles north of Allentown, 125 miles north-northwest of Philadelphia, and 120 miles west of New York City.

Scranton had 10 National Banks chartered during the Bank Note Era, and eight of those banks issued National Bank Notes.

Bank History

In October 1872, the directors were William Mathews, J.A. Scranton, Lewis Pughe, John Jermyn, James Archbald, George H. Catlin, William Connell, H.M. Boies, Edward C. Lynde, and Fred. W. Gunster. Alfred Hand was president; and N.H. Shafer, cashier. The bank had capital $200,000 and was located in the Republican Building.[1]

In January 1874, the directors were William Matthews, Lewis Pughe, Edward C. Lynde, J.A. Scranton, H.M. Boies, William Connell, John Jermyn, Fred. W. Gunster, Alfred Hand, George H. Catlin, and James Archbald. Alfred Hand was president; and N.H. Shafer, cashier. The bank had capital $200,000 and surplus $20,000 and was located in the Republican Building.[2]

In January 1890, at the annual meeting of the stockholders, directors were elected as follows: William Connell, James Archbald, Alfred Hand, George H. Catlin, Henry Belin, Jr., William T. Smith, and Luther Keller. The only change made in the board from the past years was the selection of Mr. Keller who succeeded Mr. John Jermyn.[3]

In February 1897, of the 355 members-elect, 206 were in the present House, 15 served in some former Congress, and 135 were strangers to the House. Few of the new members were less than 40 years old and one was nearly 70. This patriarch was William Connell of the Eleventh Pennsylvania district, a wealthy mine-owner and president of the Anthracite Coal Operators Association. Mr. Connell was born in Sidney, Nova Scotia and when he was 17, he was a driver in the coal mines of Pennsylvania. in 1856 was appointed superintendent of the mines of the Susquehanna & Wyoming Valley Railroad & Coal Company, with offices in Scranton. Upon the expiration of that company's charter in 1870 he purchased its property and became one of the largest independent coal operators in the Wyoming region. He was a very wealthy operator, one of the founders of the Third National Bank of Scranton in 1872, and in 1879 was chosen its president. He also had interests in a dozen other financial and business institutions. He served as a Congressman from 1897 to 1903. After successfully contesting the election of George Howell, he served again, from 1904 to 1905. At the time it was thought he may one day be a candidate for Governor of Pennsylvania.[4] His son, Charles Robert Connell, later served as a Congressman.

On Tuesday, January 9, 1900, the following directors were elected: William Connell, Alfred Hand, Thomas H. Watkins, Henry Belin, Jr., George H. Catlin, J. Ben Dimmick, James Archbald, Luther Keller, and J.L. Connell. The officers elected were William Connell, president; Henry Belin, Jr., vice president; and William H. Peck, cashier.[5]

Postcard of the First National Bank of Scranton and the Scranton Savings Bank
Postcard of the First National Bank of Scranton and the Scranton Savings Bank, postmarked 1905. The Scranton Savings Bank was located at No. 120 Wyoming Avenue. The Architect was Edward Langley who would also designed the Third National Bank building that replaced the old Scranton Savings Bank Building in 1917.[6] The old Third National Bank building is visible just to the right of the Scranton Savings Bank. Courtesy of Adam Stroup

On Tuesday, January 9, 1917, no changes were made in the directorate of the Third National Bank when stockholders met for annual elections. The directors of the institution were: George H. Catlin, James L. Connell, Charles R. Connell, Luther Keller, WA. May, J.W. Oakford, and William H. Peck. The bank recently purchased from the Scranton Savings and Dime Bank the old Scranton Savings bank building adjoining the Third National Bank on Wyoming Avenue. The Third National had plans to move its quarters into the newly purchased building.[7] The directors would organize the following Monday and it was understood the bank's officers would be re-elected as follows: William H. Peck, president; James L. Connell, vice president; B.B. Hick, cashier; R.A. Gregory and J. Elmer Williams, assistant cashiers. President Peck would note in his address the success in making investments for the past year whereby the bank discounted a total of $17,700,000 of notes with a net loss of just $3,544.[8] On Thursday, July 19th, 1917, the Third National Bank moved to temporary quarters in the Frank L. Crane Building, 324 Lackawanna Avenue, two doors above Matthews Bros.' Drug Store where it would be located during the erection of its large, new building on the sites of the Third National Bank and the Scranton Savings Bank Buildings.[9]

On Friday, May 3, 1918, Scranton's newest bank building opened for business. The new building was thrown open for inspection Thursday afternoon and admiring throngs marveled at the stately beauty of the interior. The blue and gold of the ceiling matched perfectly the buff and old ivory of the walls and the immaculate whiteness of the floors. The bronze grill work fit into the color scheme as did the shining luster of the great steel vault. The entire banking room was beautifully decorated with huge baskets of roses, various other flowers and huge potted ferns furnished by Besacon. Mr. Peck received two magnificent baskets of flowers, one from the officers and directors of the Traders National Bank and one from Ira Hemingway, representing George Burr & Co., of New York City. A silk service flag with five stars representing those bank employees in national service was draped from the balcony and a huge American flag hung by its side. Notably, Mr. R.A. Gregory, assistant cashier, was a member of the old 13th regiment and answered the call when war was declared on Germany. He was a veteran of the Spanish-American War and a major in the 109th Infantry, part of the 28th Division.[10] 

The bank was first opened for business at 504 Lackawanna Avenue on Monday, April 15, 1872. A few weeks later on July 29th it moved to the old Republican building, 115 Wyoming Avenue. The organization dated from March 1, 1872, at which time a meeting of the stockholders was held in the office of Hand & Post and Alfred Hand was elected president and George H. Catlin, vice president.  N.H. Shafer was elected cashier on March 16, 1872. Needing enlarged facilities, a committee was appointed in January 1877 to locate new premises for the bank. A lot was purchased and on February 28th a contract for the building was let. On November 5th the bank moved to its new building at 118 Wyoming Avenue. On March 4, 1879, Alfred Hand resigned on account of having been appointed law judge of the 11th judicial district. William Connell was elected president on January 19, 1880. On February 20, 1882, William H. Peck was elected cashier and assumed the position on March 7th, coming from the First National Bank with 12 years of banking experience. In 1889 the business of the bank had increased such that what was once the new bank building had become far too small and in July plans were adopted for the alteration of the banking rooms. The work finished a few months later.

In February 1932, George Catlin, 87, was a new claimant for the honor of being a bank director for the longest period. Catlin had been a director of the Third National Bank in Scranton for 60 years.[11]

On November 18, 1994, the Third National Bank & Trust Company merged into Corestates Bank, N.A. of Philadelphia; Corestates was previously known as Philadelphia National Bank (Charter 539).

Official Bank Titles

1: The Third National Bank of Scranton, PA

2: Third National Bank and Trust Company of Scranton, PA (9/16/1929)

Bank Note Types Issued

1882 Brown Back $10 bank note
1882 Brown Back $10 bank note with pen signatures of William H. Peck, Cashier and George H. Catlin, Vice President. Series of 1882 $10s have the abnormal border variety. Courtesy of Heritage Auctions, www.ha.com
1882 Brown Back $5 bank note
1882 Brown Back $5 bank note with stamped signatures of William H. Peck, Cashier and William Connell, President. Courtesy of Heritage Auctions, www.ha.com
1902 Plain Back $10 bank note
1902 Plain Back $10 bank note. This is a Replacement note. Courtesy of the NBNCensus.com
1929 Type 1 $10 bank note
1929 Type 1 $10 bank note with printed signatures of J.E. Williams, Cashier and R.A. Gregory, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 2 $20 bank note
1929 Type 2 $20 bank note with printed signatures of Jno. Greiner, Jr., Cashier and R.A. Gregory, President. Courtesy of Heritage Auctions, www.ha.com

A total of $11,181,920 in National Bank Notes was issued by this bank between 1872 and 1935. This consisted of a total of 1,200,172 notes (799,072 large size and 401,100 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 4x5 1 - 2750
1: Original Series 3x10-20 1 - 1900
1: Series 1875 4x5 1 - 4460
1: Series 1875 3x10-20 1 - 3462
1: 1882 Brown Back 4x5 1 - 9750
1: 1882 Brown Back 3x10-20 1 - 17400
1: 1882 Date Back 4x5 1 - 9140
1: 1882 Date Back 3x10-20 1 - 6746
1: 1902 Date Back 4x5 1 - 24550
1: 1902 Date Back 3x10-20 1 - 19080
1: 1902 Plain Back 4x5 24551 - 56546
1: 1902 Plain Back 3x10-20 19081 - 87614
1: 1929 Type 1 6x5 1 - 1950
1: 1929 Type 1 6x10 1 - 984
1: 1929 Type 1 6x20 1 - 334
2: 1929 Type 1 6x5 1 - 17666
2: 1929 Type 1 6x10 1 - 19420
2: 1929 Type 1 6x20 1 - 6052
2: 1929 Type 2 5 1 - 63776
2: 1929 Type 2 10 1 - 40278
2: 1929 Type 2 20 1 - 18610

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1872 - 1935):

Presidents:

Cashiers:

Other Known Bank Note Signers

Bank Note History Links

Sources

  • Scranton, 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://spmc.org/bank-note-history-project
  1. ↑ The Scranton Republican, Scranton, PA, Wed., Oct. 23, 1872.
  2. ↑ The Tribune, Scranton, PA, Wed., Jan. 7, 1874.
  3. ↑ The Tribune, Scranton, PA, Wed., Jan. 15, 1890.
  4. ↑ San Francisco Chronicle, San Francisco, CA, Mar. 7, 1897.
  5. ↑ The Times-Tribune, Scranton, PA, Tue., Jan. 9, 1900.
  6. ↑ The Tribune, Scranton, PA, Fri., May 25, 1917.
  7. ↑ The Times-Tribune, Scranton, PA, Tue., Jan. 9, 1917.
  8. ↑ Pittston Gazette, Pittston, PA, Wed., Jan. 10, 1917.
  9. ↑ The Times-Tribune, Scranton, PA, Wed., Aug. 8, 1917.
  10. ↑ The Tribune, Scranton, PA, Fri., May 3, 1918.
  11. ↑ The Akron Beacon Journal, Akron, OH, Wed., Feb. 24, 1932.
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