Union National Bank, Pittsburgh, PA (Charter 705)
Union National Bank, Pittsburgh, PA (Chartered 1865 - Closed (Merger) 2006)
Town History
Pittsburgh is a city in the state of Pennsylvania and the county seat of Allegheny County. As of the 2020 census, the population was 302,971 living within the city limits making it the 68th-largest city in the U.S. and the second-most populous city in Pennsylvania, behind Philadelphia. The Pittsburgh metropolitan area is the anchor of Western Pennsylvania; its population of 2.37 million is the largest in both the Ohio Valley and Appalachia, the second-largest in Pennsylvania, and the 27th-largest in the U.S.
Pittsburgh is located in the southwest of the state, at the confluence of the Allegheny River and the Monongahela River, forming the Ohio River. Pittsburgh is known both as "the Steel City" for its more than 300 steel-related businesses and as the "City of Bridges" for its 446 bridges. The city features 30 skyscrapers, two inclined railways, a pre-revolutionary war fortification and the Point State Park at the confluence of the rivers. The city developed as a vital link of the Atlantic coast and Midwest.
Aside from steel, Pittsburgh has led in the manufacturing of other important materials — aluminum and glass — and in the petroleum industry. Additionally, it is a leader in computing, electronics, and the automotive industry. For part of the 20th century, Pittsburgh was behind only New York City and Chicago in corporate headquarters employment; it had the most U.S. stockholders per capita. Deindustrialization in the 1970s and 1980s laid off area blue-collar workers as steel and other heavy industries declined, and thousands of downtown white-collar workers also lost jobs when several Pittsburgh-based companies moved out. The population dropped from a peak of 675,000 in 1950 to 370,000 in 1990. However, this rich industrial history left the area with renowned museums, medical centers, parks, academic institutions, research centers, and a diverse cultural district.
After the deindustrialization of the mid-20th century, Pittsburgh has transformed into a hub for the health care, education, and technology. Pittsburgh is a leader in the health care sector as the home to large medical providers such as University of Pittsburgh Medical Center (UPMC). The area is home to 68 colleges and universities, including research and development leaders Carnegie Mellon University and the University of Pittsburgh. Google, Apple Inc., Bosch, Facebook, Uber, Nokia, Autodesk, Amazon, Microsoft and IBM are among 1,600 technology firms generating $20.7 billion in annual Pittsburgh payrolls. The area has served as the long-time federal agency headquarters for cyber defense, software engineering, robotics, energy research and the nuclear navy. The nation's fifth-largest bank, eight Fortune 500 companies, and six of the top 300 U.S. law firms make their global headquarters in the area, while RAND Corporation (RAND), BNY Mellon, Nova, FedEx, Bayer, and the National Institute for Occupational Safety and Health (NIOSH) have regional bases that helped Pittsburgh become the sixth-best area for U.S. job growth.
Pittsburgh was named in 1758, by General John Forbes, in honor of British statesman William Pitt, 1st Earl of Chatham. Pittsburgh was incorporated as a borough on April 22, 1794. From 1891 to 1911, the city's name was federally recognized as "Pittsburg", though use of the final h was retained during this period by the city government and other local organizations including most, but not all national banks. After a public campaign, the federal decision to drop the h was reversed.
The North Side is home to various neighborhoods in transition. What is known today as Pittsburgh's North Side was once known as Allegheny City, and operated as a city independently of Pittsburgh until it was merged with Pittsburgh in 1907 under great protest from its citizens.
The South Side was once the site of the Pennsylvania Railroad rail yards and associated dense, inexpensive housing for mill and railroad workers. Since the late 20th century, the city undertook a Main Street program in cooperation with the National Trust for Historic Preservation, encouraging design and landscape improvements on East Carson Street, and supporting new retail. The area has become a local Pittsburgher destination. East Carson Street has developed as one of the most vibrant areas of the city, packed with diverse shopping, ethnic eateries, vibrant nightlife, and live music venues.
In 1993 the Urban Redevelopment Authority of Pittsburgh purchased the South Side Works steel mill property. It collaborated with the community and various developers to create a master plan for a mixed-use development, to include a riverfront park, office space, housing, health-care facilities, and indoor practice fields for the Pittsburgh Steelers and Pitt Panthers. Construction began in 1998. The South-Side Works has been open since 2005, featuring many stores, restaurants, offices, and the world headquarters for American Eagle Outfitters.
The East End of Pittsburgh is home to the University of Pittsburgh, Carnegie Mellon University, Carlow University, Chatham University, The Carnegie Institute's Museums of Art and Natural History, Phipps Conservatory, and Soldiers and Sailors Memorial Hall. It is also home to many parks and public spaces including Mellon Park, Westinghouse Park, Schenley Park, Frick Park, The Frick Pittsburgh, Bakery Square, and the Pittsburgh Zoo and PPG Aquarium. The neighborhoods of Shadyside and Squirrel Hill are large, wealthy neighborhoods with some apartments and condos, and pedestrian-oriented shopping/business districts. Squirrel Hill is also known as the hub of Jewish life in Pittsburgh, home to approximately 20 synagogues. Oakland, heavily populated by undergraduate and graduate students, is home to most of the universities, and the Petersen Events Center. The Strip District to the west along the Allegheny River is an open-air marketplace by day and a clubbing destination by night. Bloomfield is Pittsburgh's Little Italy and is known for its Italian restaurants and grocers. Lawrenceville is a revitalizing rowhouse neighborhood popular with artists and designers. The Hill District was home to photographer Charles Harris as well as various African-American jazz clubs. Other East End neighborhoods include Point Breeze, Regent Square, Homewood, Lincoln-Lemington-Belmar, Larimer, East Hills, East Liberty, Polish Hill, Hazelwood, Garfield, Morningside, and Stanton Heights.
The West End includes Mt. Washington, with its famous view of the Downtown skyline and numerous other residential neighborhoods such as Sheraden and Elliott.
Pittsburgh had 47 National Banks chartered during the Bank Note Era, and 46 of those banks issued National Bank Notes. Pittsburgh also had one Obsolete Bank that issued Obsolete Bank Notes during the Obsolete Bank Note Era (1782-1866).
Bank History
- Organized December 21, 1864
- Chartered January 12, 1865
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Merged into National City Bank in Cleveland, OH July 22, 2006
The Union Banking Company was established in 1857 which operated at Market Street at Fourth Avenue. It was one of the earlier Pittsburgh companies to take advantage of the act of Congress that created National Banks. The charter was granted on January 12, 1864, expiring on December 31, 1883. The Bank began with a capital of $250,000 and continued with that until 1904 when it was increased to $500,000. Its surplus grew from nothing in 1864 to $3,675,000 by 1905, all of which had been earned through normal business operations in addition to paying handsome dividends.
In January 1886, directors elected were: J.R. McCune, William Baker, Jr., Addison Lysle, Charles Atwell, C. Lappe, A.G. Cubbage, Joseph Horne, Samuel Wilson, and Thomas M. Armstrong.
In January 1905, officers were R.S. Smith, president; John R. McCune, vice president; and C.F. Dean, cashier. The directors were R.S. Smith, president; Thomas M. Armstrong, cork manufacturer; Adam Wilson, contractor & builder; John H. Wilson, capitalist; Durbin Horne, dry goods; John R. McCune, steam pumps; Wm. M. Rees, engine builder; Johns McCleave, attorney; Jas. H. Lockhart, capitalist; H.K. Porter, Locomotives; H.J. Heinz, pickles; and Robt. A. Orr, broker.
On July 1, 1905, consolidation was effected between N. Holmes & Sons, Bankers and the Union National Bank of Pittsburgh. The corporate name of Union National Bank of Pittsburgh was retained while the new corporation occupied the former quarters of N. Holmes & Sons at 314 Wood St., corner of Fourth Avenue. The banking firm of N. Holmes & Sons was founded in 1822. The new officers were R.S. Smith, president; John R. McCune, vice president; J.D. Lyon, vice president; C.F. Dean, vice president and cashier; G.M. Paden and W.T. Lyon, assistant cashiers. Nathaniel Holmes, J.D. Lyon and C.F. Dean were added as directors.
In January 1914, the following were elected directors: John H. Wilson, John R. McCune, William M. Rees, James H. Lockhart, H.J. Heinz, Robert A. Orr, J.D. Lyon, Nathaniel Holmes, H. Darlington, H.L. Mason, Jr., Frank A. McCune, John Worthington, C.D. Armstrong, James H. Barr, W.C. McBride, J.F. Byers, J. Gilmore Fletcher, William Watson Smith, and J.B. Shea.
In January 1920, directors were John R. McCune, William M. Rees, Robert A. Orr., J.D. Lyton, Nathaniel Holmes, H.L. Mason, Jr., Frank A. McCune, C.D. Armstrong, James H. Barr, J. Frederic Byers, William W. Smith, J.B. Shea, John D. Brown, Norwood Johnston, H. Darlington, Jr., Howard Heinz, and V.L.P. Shiver.
Shareholders of the Union National Bank of Pittsburgh and the Farmers National Bank of Beaver Falls approved an agreement to consolidate on November 23, 1959, subject to approval by the Comptroller of the Currency. The total resources of the Union Bank were $124,891,015 and those of the Farmers National were $18,466,805. The Farmers National had offices at Beaver Falls and Koppel. After the consolidation, Union National had a total of seven offices. Stockholders of the Beaver Falls bank received 1.43 shares of Union National stock for each share of Farmers National stock held.
Official Bank Title(s)
1: The Union National Bank of Pittsburgh, PA
Bank Note Types Issued
A total of $16,108,120 in National Bank Notes was issued by this bank between 1865 and 1935. This consisted of a total of 1,862,584 notes (1,526,668 large size and 335,916 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 - 4000 Original Series 4x5 1 - 6000 Original Series 3x10-20 1 - 3850 Original Series 50-100 1 - 1400 Series 1875 4x5 1 - 1790 Series 1875 3x10-20 1 - 1760 Series 1875 50-100 1 - 800 1882 Brown Back 4x5 1 - 7107 1882 Brown Back 3x10-20 1 - 9174 1882 Brown Back 50-100 1 - 4420 1902 Red Seal 4x5 1 - 20500 1902 Red Seal 3x10-20 1 - 10700 1902 Red Seal 50-100 1 - 900 1902 Date Back 4x5 1 - 64500 1902 Date Back 3x10-20 1 - 40600 1902 Date Back 50-100 1 - 400 1902 Date Back 3x50-100 1 - 1000 1902 Plain Back 4x5 64501 - 186810 1902 Plain Back 3x10-20 40601 - 125016 1929 Type 1 6x5 1 - 31918 1929 Type 1 6x10 1 - 19412 1929 Type 1 6x20 1 - 4656
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1936):
Presidents:
- John Robison McCune, (Sr.), 1865-1888
- Robert Stewart Smith, 1888-1909
- John Robison McCune, (Jr.), 1910-1923
- Lloyd Weir Smith, 1923-1935
Cashiers:
- Robert Stewart Smith, 1865-1888
- Charles F. Dean, 1888-1909
- George M. Paden, 1910-1919
- Edwin S. Eggers, 1920-1922
- William Pierson Barker, 1923-1924
- Russell Hart Beatty, 1925-1935
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Pennsylvania Bank Note History
- General information on Pittsburgh (Wikipedia)
- General information on Allegheny County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Pittsburgh, PA, Wikipedia, https://en.wikipedia.org/wiki/Pittsburgh,_Pennsylvania
- 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
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., Jan. 13, 1886.
- Pittsburgh Daily Post, Pittsburgh, PA, Sun, Jan. 1, 1905.
- Pittsburgh Daily Post, Pittsburgh, PA, Thu., Jan. 26, 1905.
- Pittsburgh Daily Post, Pittsburgh, PA, Thu., June 29, 1905.
- Pittsburgh Daily Post, Pittsburgh, PA, Wed., Jan. 14, 1914.
- The Pittsburgh Press, Pittsburgh, PA, Tue., Jan. 13, 1920.
- Pittsburgh Sun-Telegraph, Pittsburgh, PA, Tue., Nov. 24, 1959.