Wernersville National Bank/Wernersville NB & TC, Wernersville, PA (Charter 8131)

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The old Wernersville National Bank and Trust Company
The old Wernersville National Bank and Trust Company on Penn Avenue, ca2022. Courtesy of Google Maps

Wernersville National Bank/Wernersville NB & TC, Wernersville, PA (Chartered 1906 - Open past 1935)

Town History

Wernersville is a borough in Berks County, Pennsylvania. The population was 2,776 at the 2020 census. U.S. Route 422 runs through the borough via Penn Avenue and leads to Reading about 8 miles to the east and to Robesonia about 4 miles to the west. The population of Wernersville was 2,776 at the 2020 census. In 1920 the population was 797 growing to 1,096 by 1930.

In the late 19th century and early 20th century, Wernersville was a noted resort community. City dwellers (especially from Philadelphia and New York City) traveled out to Wernersville, a stop on the Reading Railroad to rest and partake of the cool mountain air of South Mountain. A number of large resort hotels were erected for this purpose including Galen Hall, Bynden Wood, Grand View and the Highland Hotel. Some were advertised as sanatoriums, specializing in rest cures for illnesses such as tuberculosis. The most famous of these was Dr. Robert Walter's Mountain Park (aka Walters Park). Most of these resort hotels have since disappeared due to fire, demolition, or have been transformed into buildings for institutional purposes. Some cottages once associated with the resorts are now private homes.

In 1891, the Wernersville State Hospital opened as the State Asylum for the Chronic Insane. The original hospital buildings remain standing and the State Hospital is still active.

The Lerch Tavern and Wertz Mill are listed on the National Register of Historic Places.

Wernersville had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.

Bank History

  • Organized February 15, 1906
  • Chartered March 10, 1906
  • Opened for business April 23, 1906
  • Bank was Open past 1935
  • Acquired by Peoples Trust City Bank of Reading, PA, before December 1961

In January 1906, the application to organize the Wernersville National Bank, Wernersville, Pennsylvania, capital $25,000, was approved by the comptroller of the currency. The applicants were George W. Wagner, attorney-at-law, Reading; George W. Wertz, John H. Miller, F.S. Wertz, Aug. C. Wertz, and I.M. Rothenberger and others.[1] On February 15, 1906, the bank organized with the election of these directors: George W. Wertz, W.K. Kirchner, T. Rothenberger, E.G. Ruth, Dr. R.D. Wenrich, Dr. S.S Hill, all of Wernvsville; H.R. Miller, of Robesonia; W. Webber of Sinking Spring; E. Witman of Wernersville; Isaac Greth, Lorah; J.H. Hain and John H. Miller of Wernersville; and George W. Wagner of Reading. George W. Wertz was chosen president; Drs. Wenrich and Hill, vice presidents; and George W. Wagner, solicitor.[2] On March 10th a certificate was issued authorizing the bank to begin business. Leonard M. Ruth was cashier.[3] The building formerly known as the Shappell general store property, Wernersville, was remodeled and beautified for the newly organized bank. The bank began with bright prospects with a large line of deposits assured and it fulfilled a long-felt need in its community.[4]

On April 15, 1908, subscriptions for the increase of capital stock from $25,000 to $50,000 closed. The issue was almost doubly subscribed. At a meeting of the directors, resolutions were adopted to increase the circulation to $25,000. The new issue of stock was distributed among 80 new shareholders.[5] In July the certificate arrived from the comptroller of the currency approving the increase of the capital stock from $25,000 to $50,000.[6]

In January 1913, the following were elected directors: George W. Wertz, Reuben D. Wenrich, Samuel S. Hill, Thomas K. Leidy, W.W. Weber, John H. Miller, Henry R. Miller, W.J. Kershner, George F. Knorr, and Leonard M. Ruth.[7]

On September 25, 1926, Dr. Reuben D. Wenrich, proprietor of Sandview Sanitarium along the South Mountain near Wernersville died at the age of 84. He attended rural township schools and later studied medicine and graduated from the university of Pennsylvania Medical School in 1862. In 1865, Dr. Wenrich married Sarah, daughter of Moses Gockley, of Wernersville. His two surviving sons, Dr. George G. and Dr. John Adam Wenrich assisted him in conducting the sanitarium. A daughter, Mrs. Alvin G. Gibbs of Canton, Ohio, also survived her father.[8]

Dr. Wenrich established in practice in Wernersville, Pennsylvania, the year of his graduation, and for ten successive years carried on his large practice alone. He then entered into partnership with Dr. James W. Deppen, of Wernersville, a physician of experience and skill. The partners, in addition to their medical practice, conducted a general store and dealt in lumber, coal and lime, continuing until 1879 in their dual capacity as physicians and merchants. In 1879 they purchased the Mountain Home, a well-known health institution located two miles from Wernersville on South Mountain. They at once assumed charge of the home and as its popularity increased they gradually withdrew from business in Wernersville. They jointly managed the home until Dr. Deppen's death in 1895. On the settlement of Dr. Deppen's estate, Dr. Wenrich became sole owner of the institution, now known as Grand View Sanatorium, having been changed on Dr. Deppen's death. Dr. Wenrich added greatly to the grounds by purchases until the estate comprised six hundred acres of farm and wood lands. Costly and permanent improvements have been made to the Sanatorium, which with its commodious appointments, electric light and steam heating plant, was recognized as one of the most desirable of health resorts. The natural advantages of the site were many, including pure air and water combined with the magnificent view of the Lebanon and Lancaster Valleys. While for many years Dr. Wenrich had given the Sanatorium his undivided attention, he encouraged the establishment of the Wernersville National Bank, and since its founding in April 1906, served as one of the directors. Mrs. Sarah (Gockley) Wenrich, died in 1896, aged 48 years. She was a great-granddaughter of John Gockley who settled in Cocalico Township, Lancaster County, Pennsylvania, prior to 1790.[9]

On Tuesday, January 8, 1929, a 12% annual dividend and an extra 2% dividend was declared by the Wernersville National Bank. Deposits were $1,120,677, surplus $100,000 and undivided profits $125,000. Directors were re-elected as follows: Samuel S. Hill, Thomas K. Leidy, W.W. Webber, John H. Miller, Isaac C. Greth, Leonard M. Ruth and George W. Gerhart. The board reorganized by electing Dr. Samuel S. Hill, president; William W. Webber, vice president; Thomas K. Leidy, secretary; and Leonard M. Ruth, cashier.[10] In February, new stock issued by the Wernersville National Bank and Trust Company was over subscribed. The new issue gave the bank a capital of $125,000 and a surplus of $250,000.[11]

On December 22, 1930, William W. Webber, 61, died at his home in Sinking Spring. He was president of the Sinking Spring Bank since its organization and was engaged in the coal and lumber business. He also served as a director of the Pennsylvania Trust Company, Reading, and the Wernersville National Bank.[12]

In January 1931, Geo. H. Rader of West Reading was elected a director to take the place of W.W. Webber, deceased.[13]

In January 1935, at the annual stockholders' meeting, the directors elected were as follows: Dr. Samuel S. Hill, Leonard M. Ruth, George W. Gerhard, George H. Rader, and C. Norman Lamm. Officers were Dr. S.S. hill, president; George H. Rader, first vice president; Leonard M. Ruth, second vice president and cashier; C. Norman Lamm, secretary; Thomas K. Leidy, solicitor. A 2 1/2% annual dividend was declared.[14]

A 1960 advertisement
A 1960 advertisement announcing the merger of Peoples Trust Company of Wyomissing and City Bank and Trust Company of Reading, forming the Peoples Trust City Bank.[15]
In April 1960, The Peoples Trust Co. of Wyomissing and the City Bank Trust Co. of Reading merged by a vote of both boards of directors. The combined institution would be known as the Peoples Trust City Bank.[16]

On July 1, 1968, Peoples Trust City Bank of Reading became the Bank of Pennsylvania. Peoples reported assets in excess of $203 million at the end of June. The bank had 17 branches in Berks, Lehigh and Montgomery Counties. The bank's growth was a result of mergers of nine banks over a period of more than a half century. They were Peoples Trust Company of Wyomissing, City Bank and Trust Co. of Reading, First National of Birdsboro, Sinking Springs Bank, Wernersville National, Womelsdorf Bank and Trust Co., Strausstown National, Farmers National Bank and Trust of Boyertown and the National Bank of Topton. The latter two were the most recent with Farmers National of Boyertown merging with Peoples in November 1967 and National Bank of Topton on March 1st four months ago. President Robert C. Dembergh noted the growth of regional banking, enabling a wider variety of services and the financing of computer installations keyed to modern day needs.[17]

On January 2, 1981, Bank of Pennsylvania acquired the First National Bank of Honeybrook, Honey Brook, Pennsylvania. On May 1, 1991, Bank of Pennsylvania merged and became part of Dauphin Deposit Bank and Trust Company in Harrisburg.

Official Bank Titles

1: The Wernersville National Bank, Wernersville, PA

2: The Wernersville National Bank and Trust Company, Wernersville, PA (2/18/1929)

Bank Note Types Issued

1902 Red Seal $10 bank note
1902 Red Seal $10 bank note with pen signatures of Leonard M. Ruth, Cashier and George W. Wertz, President. Courtesy of Heritage Auctions, www.ha.com
1902 Plain Back $10 bank note
1902 Plain Back $10 bank note with pen signatures of Leonard M. Ruth, Cashier and Reuben D. Wenrich, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $10 bank note
1929 Type 1 $10 bank note with printed signatures of Leonard M. Ruth, Cashier and Samuel S. Hill, President. Courtesy of Heritage Auctions, www.ha.com

A total of $819,260 in National Bank Notes was issued by this bank between 1906 and 1935. This consisted of a total of 65,748 notes (53,148 large size and 12,600 small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type Sheet/Denoms Serial#s Sheet Comments
1: 1902 Red Seal 3x10-20 1 - 687
1: 1902 Date Back 3x10-20 1 - 3940
1: 1902 Plain Back 3x10-20 3941 - 12600
2: 1929 Type 1 6x10 1 - 1366
2: 1929 Type 1 6x20 1 - 416
2: 1929 Type 2 10 1 - 1513
2: 1929 Type 2 20 1 - 395

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1906 - 1935):

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

  • Wernersville, 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 Wall Street Journal, New York, NY, Fri., Jan. 26, 1906.
  2. ↑ Reading Times, Reading, PA, Sat., Feb. 17, 1906.
  3. ↑ The Wall Street Journal, New York, NY, Mon., Mar. 12, 1906.
  4. ↑ Reading Times, Reading, PA, Mon., Apr. 23, 1906.
  5. ↑ The Daily News, Lebanon, PA, Tue., Tue. Apr. 21, 1908.
  6. ↑ Lebanon Courier and Semi-Weekly Report, Lebanon, PA, Fri., July 10, 1908.
  7. ↑ Reading Times, Reading, PA, Wed., Jan. 15, 1913.
  8. ↑ The Morning Call, Allentown, PA, Sun., Sep. 26, 1926.
  9. ↑ Encyclopedia of Pennsylvania Biography: Illustrated, Volume 3; By John Woolf Jordan, Thomas Lynch Montgomery, Ernest Spofford, Frederic Antes Godcharie; Lewis Historical Publishing Company, 1914.
  10. ↑ Reading Times, Reading, PA, Wed., Jan. 9, 1929.
  11. ↑ Reading Times, Reading, PA, Thu., Feb. 28, 1929.
  12. ↑ Reading Times, Reading, PA, Tue., Dec. 23, 1930.
  13. ↑ Reading Times, Reading, PA, Thu., Jan. 8, 1931.
  14. ↑ Reading Times, Reading, PA, Sat., Jan. 12, 1935.
  15. ↑ The Mercury, Pottstown, PA, Mon., Aug. 1, 1960.
  16. ↑ The Philadelphia Inquirer, Philadelphia, PA, Fri., Apr. 15, 1960.
  17. ↑ The Mercury, Pottstown, PA, Tue., July 16, 1968.
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