Tompkins County NB, Ithaca, NY (Charter 1561)
Tompkins County NB, Ithaca, NY (Chartered 1865 - Liquidated 1935)
Town History
Ithaca is a city in the Finger Lakes region of New York, situated on the southern shore of Cayuga Lake. It is the seat of Tompkins County and the largest community in the Ithaca metropolitan statistical area. Simeon DeWitt, surveyor general for the state, is credited as being the founder of Ithaca. His map of the state dated 1802 and published in 1805 carried the name Ithaca in its proper location. It is named after the Greek island of Ithaca. Tompkins County derives its name from Daniel D. Tompkins, governor of New York from April 1807 to February 1817. A college town, Ithaca is home to Cornell University and Ithaca College. Nearby is Tompkins Cortland Community College (TC3). These three colleges bring thousands of students to the area, increasing Ithaca's seasonal population during the school year. As of 2020, the city's population was 32,108. In 1870, the population was 8,462, growing to 20,708 by 1930.
Ithaca had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes.
Bank History
- Organized June 20, 1865
- Chartered September 18, 1865
- Conversion of the Tompkins County Bank
- Liquidated May 28, 1935
- Absorbed by Ithaca Trust Company forming The Tompkins County Trust Company on May 28, 1935
Tompkins County Bank
On Saturday, January 7, 1832, a petition was presented in assembly for the Tompkins County Bank at Ithaca. This bill was subsequently rejected. A bill to incorporate the Tompkins County Bank passed the Senate and Assembly in April 1836 with capital of $250,000. On Friday, 13 May, 1836, the bill was read a third time and passed. The following is a list of the new banks incorporated by the Legislature of New York, 1836.
| Bank | Town | Capital | Haxby # |
|---|---|---|---|
| Oneida County Bank | Utica | $500,000 | |
| Tompkins County Bank | Ithaca | $250,000 | NY-1085 |
| Bank of Lyons | Lyons | $200,000 | NY-1295 |
| Atlantic Bank | Brooklyn | $500,000 | NY-305 |
| Bank of State of New York | New York | $2,000,000 | |
| Rochester City Bank | Rochester | $400,000 | NY-2405 |
| Buffalo City Bank | Buffalo | $400,000 | NY-365 |
| Commercial Bank | Oswego | $250,000 | |
| Bank of Owego | Owego | $200,000 | NY-2155 |
| Clinton County Bank | Plattsburgh | $200,000 | |
| Kingston Bank | Kingston | $200,000 | |
| Watervliet Bank | Watervliet (West Troy) | $250,000 | NY-2910 |
The Tompkins County Bank was located in its own stone colonial building on E. State Street. Colonel Hermon Camp served as the first president. During the financial chaos of 1837, a delegation of heavy depositors called upon Colonel Camp and demanded to know the condition of his bank. Gentlemen, the Colonel replied, go to your homes. You have my personal guarantee that every Tompkins County Bank bill you hold is good for its face in gold. Disaster was averted with Camp's pledge. The Merchants and Farmers bank was chartered in 1838 and in 1849, just before the charter of the Bank of Ithaca expired, it merged with the Tompkins County Bank.
Tompkins County National Bank
On February 6, 1888, county clerk Philip J. Partenheimer died at his desk at noon of heart disease. He was aged seventy and known by every person in the region. He was serving his second term in an office to which no democrat except himself had ever won in the past 20 years. He was cashier of the Tompkins County National Bank for the post 40 years, had been captain of the Dewitt Guards, supervisor seven 6ears chief engineer of the fire department and prominent in Masonic and Odd Fellow matters.
In January 1895, stockholders of the Tompkins County National Bank re-elected the following officers: President, L.L. Treman; vice president, J.C. Gauntlett; directors, L.L. Treman, Elias Treman, L.R. King, R.H. Treman, John Barden, Roswell Beardsley, J.C. Gauntlett. U.L. Hinckley was cashier.
On Friday, April 27, 1900, LaFayette L. Treman, one of Ithaca's most prominent citizens, died at the age of 79 years. He had been an Ithaca businessman for sixty years and was one of the founders of the hardware firm of Treman, Kink & Co., from which he retired about two years ago; ex-president of the Tompkins County National Bank; president of the Ithaca Water Works company; president of the Ithaca Gas Light company; director of the Ithaca Trust company; and director of the Lyceum company.
On January 14, 1914, at the annual meeting of the stockholders held at their new banking quarters, John C. Gauntlett was chosen chairman of the meeting and the following directors were elected for the ensuing year: John C. Gauntlett, Mynderse Van Cleef, Robert H. Treman, Charles E. Treman, Edwin C. Stewart, Ebenezer M. Treman, Charles H. Blood, Fred W. Brooks, Albert G. Stone, and Robert E. Treman. The stockholders, by unanimous vote, authorized the bank's acceptance of the provision of the new Federal Reserve Act and its subscribing to the stock of the Federal Reserve Bank in this district when organized. At the director's meeting, the following officers were elected for the year 1914: president, Robert H. Treman; vice president, John C. Gauntlett; cashier, Albert G. Stone; assistant cashier, David N. Van Hoesen.
In May 1914, the officers of the Ithaca Trust Company were Mynderse Van Cleef, president, E.L. Williams, vice president, C.E. Treman, vice president and treasurer, and W.H. Storms, secretary. The directors were Charles D. Bostwick, assistant treasurer, Cornell University; Franklin C. Cornell, Jr., dealer in coal; John C. Gauntlett, vice president, Ithaca Savings Bank; Jacob Rothschild, president, Rothschild Brothers; Louis P. Smith, vice president, Ithaca Gun Co., David B. Stewart, D.B. Stewart & Co.; Leroy H. Van Kirk, Postmaster, City of Ithaca; Fordyce A. Cobb, of Cobb, Cobb, McAllister & Feinburg; Charles E. Treman, treasurer, Treman, King & Co.; William Storms, cashier, Ithaca Trust Co.; Fred J. Whiton, capitalist; Charles H. Blood, former county judge; Mynderse Van Cleef, president, Ithaca Trust Co.; Emmons L. Williams, treasurer, Cornell University; Robert H. Tremain, president, Tompkins County National Bank; Sherman Peer, lawyer; and John M. Gauntlett, dealer in bonds. The Ithaca Trust Company was founded in 1891 by area businessmen including Mynderse Van Cleef and Frederick J. Whiton. This brought the number of Ithaca banks in 1891 to three with the Tompkins County National Bank and the Merchants and Farmers Bank. In 1920, Rothschild Brothers Bank merged into the Ithaca trust Co.
In July 1914, Robert H. Treman was selected to be a member of the District No. 2 Federal Reserve Bank Board. Under the new banking law, the district boards played a great part in the financial scheme of the nation.
On Tuesday, January 16, 1916, at the annual meeting of stockholders, the following directors were elected: Mynderse Van Cleef, Robert H. Treman, Charles E. Treman, Edwin C. Steward, Charles H. Blood, Albert G. Stone, Robert E. Treman, Fred W. Brooks, Charles D. Bostwick, and John M. Gauntlett. Later the directors elected Robert H. Treman, president; Edwin C. Stewart, vice president; Albert G. Stone, cashier; and David N. Van Hoesen, assistant cashier.
On Tuesday, January 11, 1921, the annual meeting of the stockholders was held at the banking house at 10 o'clock and the following directors were elected for the ensuing year: Mynderse Van Cleef, Robert H. Treman, Charles E. Treman, Edwin C. Stewart, Charles H. Blood, Albert G. Stone, Robert E. Treman, Fred W. Brooks, Charles D. Bostwick, Leon D. Rothschild, John M. Gauntlett. Subsequently the directors met and elected the following officers: Robert H. Treman, president; Edwin C. Stewart, vice president; Albert G. Stone, cashier; David N. Van Hoesen, assistant cashier; and Rollin S. Polk, assistant cashier.
On Tuesday, January 8, 1935, the annual meeting of the stockholders was held at the banking house at 11 o'clock and the following directors were re-elected for the ensuing year: Mynderse Van Cleef, Robert H. Treman, Charles H. Blood, Albert G. Stone, Robert E. Treman, Charles D. Bostwick, Leon D. Rothschild, Joseph F. Hickey, George F. Rogalsky, and Harry G. Stutz. The directors convened and elected the following officers: Robert H. Treman, chairman of the board; Charles D. Bostwick, vice president; William H. Burns, cashier; and John A. McAllister and Mark LaFrance, assistant cashiers.
On March 6, 1935, Mynderse Van Cleef, long prominent in Ithaca's financial circles, died at Memorial Hospital after an operation. He was 81 years old. He began the practice of law in 1876, he was a founder of the Ithaca Trust Company and its president from 1908-1919. He was also a director of the Tompkins County National Bank, attorney for the Ithaca Savings Bank and for his alma mater, Cornell University. In 1882 he married Miss Elizabeth Lovejoy Treman, sister of Robert H. Treman, president of the Ithaca Trust Company.
In March 1935, the merger of the Tompkins County National Rank and Ithaca Trust Company was announced, subject to approval of the stockholders of both institutions and final approval of details by the banking authorities concerned. The merger was recommended by the banking departments, state and federal, several months ago, on the grounds that Ithaca's population of approximately 22,000 people should not have more than two competing commercial banks. Elmira, with a population of 47,000, was held to be adequately served by the two existing commercial banks. The banking authorities stated that as between the commercial competing banks there be no interlocking directors. As the Tompkins County National Bank and Ithaca Trust Company had not only a substantial group of directors in common as well as many stockholders in common, it was thought advisable to merge these institutions under the title of the Tompkins County Trust Company. The Tompkins County Trust Company would continue the banking departments of both institutions. The adjusted capital would be in excess of $1,750,000 with resources of approximately $15 million. On May 28th, the Tompkins County National Bank and the Ithaca Trust Company merged forming the largest bank in that section of the state, The Tompkins County Trust Company. The bank would occupy the larger quarters of the Ithaca Trust Company building at 110 North Tioga Street and open after making the move and a few changes on Monday, June 3.
Official Bank Title(s)
1: The Tompkins County National Bank of Ithaca, NY
Bank Note Types Issued
A total of $2,045,350 in National Bank Notes was issued by this bank between 1865 and 1935. This consisted of a total of 281,181 notes (260,940 large size and 20,241 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 - 8520 Original Series 4x5 1 - 8000 Original Series 3x10-20 1 - 3400 Series 1875 4x5 1 - 8390 Series 1875 3x10-20 1 - 4452 1882 Brown Back 4x5 1 - 3784 1882 Brown Back 3x10-20 1 - 5577 1902 Red Seal 4x5 1 - 1875 1902 Red Seal 3x10-20 1 - 1400 1902 Date Back 4x5 1 - 6550 1902 Date Back 3x10-20 1 - 5080 1902 Plain Back 4x5 6551 - 11540 1902 Plain Back 3x10-20 5081 - 8297 1929 Type 1 6x5 1 - 1038 1929 Type 1 6x10 1 - 936 1929 Type 1 6x20 1 - 314 1929 Type 2 5 1 - 3868 1929 Type 2 10 1 - 2255 1929 Type 2 20 1 - 390
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1935):
Presidents:
- Amasa Dana, 1865-1867
- Chauncey Lewis Grant, (Sr.), 1868-1873
- Lafayette Lepine Treman, 1874-1899
- Robert Henry Treman, 1900-1931
- Albert Gallatin Stone, 1932-1934
Cashiers:
- Philip Joseph Partenheimer Sr., 1867-1880
- Henry L. Hinckley, 1881-1906
- Albert Gallatin Stone, 1907-1926
- David N. Van Hoesen, 1927-1932
- William H. Burns, 1933-1934
Other Bank Note Signers
- John Charles Gauntlett, Vice President 1895...1915
- Edwin C. Stewart, Vice President 1916...1921 Signature
- There are currently no known Assistant Cashier bank note signers for this bank.
Wiki Links
- New York Bank Note History
- General information on Ithaca (Wikipedia)
- General information on Tompkins County (Wikipedia)
- General information on New York (Wikipedia)
Sources
- Ithaca, 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
- The Evening Post, New York, NY, Mon., Jan. 16, 1832.
- The Evening Post, New York, NY, Mon. May 2, 1836.
- Daily Commercial Advertiser, Buffalo, NY, Tue., May 17, 1836.
- Daily Commercial Advertiser, Buffalo, NY, Fri., June 3, 1836.
- The Buffalo Commercial, Buffalo, NY, Mon., Feb. 6, 1888.
- Star-Gazette, Elmira, NY, Tue., Jan. 10, 1895.
- Star-Gazette, Elmira, NY, Sat., Apr. 28, 1900.
- Ithaca Journal, Ithaca, NY, Tue., Jan. 13, 1914.
- Ithaca Journal, Ithaca, NY, Sat., May 23, 1914.
- Ithaca Journal, Ithaca, NY, Sat., July 25, 1914.
- Ithaca Journal, Ithaca, NY, Sat., Aug. 28, 1915.
- Ithaca Journal, Ithaca, NY, Tue., Jan. 11, 1916.
- Ithaca Journal, Ithaca, NY, Tue., Jan. 11, 1921.
- Ithaca Journal, Ithaca, NY, Tue., Jan. 8, 1935.
- Ithaca Journal, Ithaca, NY, Thu., Mar. 7, 1935.
- Ithaca Journal, Ithaca, NY, Wed., Mar. 13, 1935.
- Ithaca Journal, Ithaca, NY, Fri., May 31, 1935.
- Ithaca Journal, Ithaca, NY, Sat., May 22, 1965.
- Ithaca Journal, Ithaca, NY, Fri., Apr. 8, 1988.