Braddock National Bank, Braddock, PA (Charter 2828)
Braddock National Bank, Braddock, PA (Chartered 1882 - Open past 1935)
Town History
Braddock is a borough located in the eastern suburbs of Pittsburgh in Allegheny County, Pennsylvania, 10 miles upstream from the mouth of the Monongahela River. The population was 1,721 as of the 2020 Census.
The borough is named for General Edward Braddock (1695–1755), commander of American colonial forces at the start of the French and Indian War. The Braddock Expedition to capture Fort Duquesne (modern day Pittsburgh) from the French led to the British general's own fatal wounding and a sound defeat of his troops after crossing the Monongahela River on July 9, 1755. This battle, now called the Battle of the Monongahela, was a key event at the beginning of the French and Indian War.
The borough was incorporated on June 8, 1867. The town's industrial economy began in 1873, when Andrew Carnegie built the Edgar Thomson Steel Works on the historic site of Braddock's Field in what is now North Braddock, Pennsylvania. This was one of the first American steel mills which used the Bessemer process. As of 2010, it continues operation as a part of the United States Steel Corporation.
Braddock had four National Banks chartered during the Bank Note Era, and all four of those banks issued National Bank Notes.
Bank History
- Organized November 16, 1882
- Chartered November 28, 1882
- Succeeded Braddock Trust Company
- Bank was Open past 1935
In 1873 the Braddock Trust Company organized under State law. In 1882, the stockholders decided to reorganize under the national banking laws as the Braddock National Bank with an increased capital necessary to promote business interests of the town. The Board of Directors consisted of Robert E. Stewart, Thomas J. Kenny, Henry R. Chalfant, Andrew W. Mellon, W.E. Schmertz, Charles B. Kenny, Robert P. Duff, J.B. Corey, Joseph N. Anderson, and John M. Kennedy. Mr. John G. Kelly who had been cashier of the trust Company became the cashier of the new bank. On November 28, 1882, the Comptroller of the Currency authorized the Braddock National Bank to commence business with a capital of $60,000.
In January 1910, the Bessemer Trust Co. of Braddock elected the following directorate: A.W. Mellon, Robert P. Duff, Alexander M. Scott, Charles A. Anderson, Thomas J. Kenny, Jr., John G. Kelly, and Charles K. Dinkey. The same board was elected for the Braddock National Bank. The officers selected for the Braddock National were John G. Kelly, president; Robert P. Duff, vice president; George A. Todd, cashier; and A.H. Wooldridge, assistant cashier.
On March 30, 1910, Major Robert E. Stewart, aged 69 years, died at 7:30 o'clock at his home on North Avenue, North Braddock. He was born April 2, 1841 at Stewart Station, Westmoreland County, now Trafford City. After attending township schools, he entered the Turtle Creek Academy for three years. Later he attended Madison College in Ohio and the college at Jacksonville, Indiana County. In 1856 he matriculated at Jefferson College, Canonsburg, graduating two years later. He enlisted in 1862 in Co. F, 23rd Pennsylvania Volunteer Infantry and was mustered out with the rank of first lieutenant. He re-enlisted and was commissioned major, assigned to the 24th regiment, United States colored troops until the end of the war. He entered the law office of James P. Sterrett in Pittsburgh on his return and was admitted to the bar on May 9, 1867. Major Stewart in 1873 assisted in the formation of the old Braddock Trust Co., and was its vice president. When a majority of the stockholders in 1888 formed the Braddock National Bank, he became a director and for eight years was president of the bank. He was succeeded by John C. Kelly. Major Stewart never held public office other than that of district attorney to which he was elected on the Republican ticket in 1904, succeeding John C. Haymaker. He was stricken with typhoid fever soon after leaving the district attorney's office, by managed to make a complete recovery. He was a lifelong member of the United Presbyterian Church. He was survived by his wife and the following children: Mrs. Margaret, wife of Alvah C. Dinkey, president of the Carnegie Steel Co.; Dr. John McM. Stewart of Homestead; Harry McM. Stewart of Duquesne, a department superintendent at the Duquesne Steel works; Mrs. Leonora McM. Williams, wife of Edward Williams of Wilkins place; Mrs. Caroline Johnson, wife of Dr. Harris Johnson of East End; and James S. Stewart, a civil engineer.
On Tuesday, January 9, 1923, the stockholders elected the following directors: Charles A. Anderson, Charles E. Dinkey, Robert P. Duff, H.R. Hilliard, John G. Kelly, Jacob A. Mohr, James H. McCrady, and George A. Todd.
In 1925, the officers were John G. Kelly, president; George A. Todd, vice president; A.H. Woodridge, cashier; G.M. Peoples and R.E. Miller, assistant cashiers. The directors were Charles A. Anderson, Charles E. Dinkey, O.J.H. Hartsuff, H.R. Hilliard, John G. Kelly, Allen Kirkpatrick, Jr., James H. McCrady, Edward McCrady, and George A. Todd. At the close of business on April 6, 1925, the bank reported U.S. Bonds of $1,295,664.80, Bands and Investment Securities of $7,897,949.15 and Notes Discounted $2,881,826.04, against liabilities of capital stock $500,000, Surplus $700,000, Undivided profits 16,689.38, deposits $12,926,216.84 and National Bank Notes in circulation of $150,000.
On October 8, 1947, it was announced by Richard K. Mellon, chairman of the Mellon National Bank & Trust Co., and William E. Howard, president of the Braddock National Bank, that the Braddock National Bank would become a part of the expanding Mellon National Bank & Trust Co., subject to the approval of its stockholders. The change was expected to take place in early November. The Braddock institution, which was founded in 1882 with a capital of $60,000, had grown to the point where its capital funds amounted to $1,500,000 and its total assets were more than $23,000,000. George M. Peoples, vice president of the Braddock bank, would become manager of the Mellon branch office while the following officers were made assistant managers: James Toddie, G. Edward Hamer, W.J. Miller and W.G. Fleming.
By November 1947, the status of the two Pittsburgh banking stalwarts was: MELLONS with two downtown locations, 11 community banks, and a possibility of 10 more. PEOPLES with two downtown offices, with one more already scheduled, 11 community banks, and an "open mind" for additional branches. The eight Mellbanks just acquired by Mellons were: The Braddock National Bank, Wilkinsburg Bank, First National Bank in Sewickley, First National Bank of Wilmerding with offices at Pitcairn and Trafford, the First National Bank of Swissvale and First National Bank & Trust Co. of East Pittsburgh. Mellons previously took over Workingmans Savings Bank & Trust Co., North Side, and Bellevue Savings & Trust Co.
Most recent additions by Peoples were: Monongahela Trust Co., Homestead, Hays National Bank, and Sewickley Valley Trust Co. Peoples soon will open a third downtown office on the first floor of the Grant Bldg. The evolution of the big banking houses got its start in 1946 by two important mergers--Mellon with Union Trust and Peoples-Pittsburgh Trust with First National.
Official Bank Title(s)
1: The Braddock National Bank, Braddock, PA
Bank Note Types Issued
A total of $4,489,900 in National Bank Notes was issued by this bank between 1882 and 1935. This consisted of a total of 551,238 notes (372,240 large size and 178,998 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1882 Brown Back 4x5 1 - 7775 1882 Brown Back 50-100 1 - 1178 1902 Red Seal 4x5 1 - 5000 1902 Red Seal 3x10-20 1 - 2910 1902 Red Seal 50-100 1 - 430 1902 Date Back 4x5 1 - 23100 1902 Date Back 3x10-20 1 - 16280 1902 Date Back 50-100 1 - 500 1902 Plain Back 4x5 23101 - 47974 1902 Plain Back 3x10-20 16281 - 28347 1929 Type 1 6x5 1 - 11830 1929 Type 1 6x10 1 - 6044 1929 Type 1 6x20 1 - 1600 1929 Type 2 5 1 - 38394 1929 Type 2 10 1 - 18084 1929 Type 2 20 1 - 5676
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1882 - 1936):
Presidents:
Cashiers:
- John Gracey Kelly, 1883-1896
- Edward M. Brackemeyer, 1897-1905
- George Alexander Todd, 1906-1924
- Anderson Hoover Wooldridge, 1925-1928
- George Martin Peoples, 1929-1935
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 Braddock (Wikipedia)
- General information on Allegheny County (Wikipedia)
- General information on Pennsylvania (Wikipedia)
Sources
- Braddock, 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
- The Pittsburgh Post-Gazette, Pittsburgh, PA, Sat., Nov. 4, 1882.
- The Semi-Weekly New Era, Lancaster, PA, Sat., Dec. 2, 1882.
- The Pittsburgh Press, Pittsburgh, PA, Wed., Jan. 12, 1910.
- The Pittsburgh Press, Pittsburgh, PA, Wed., Mar. 30, 1910.
- The Pittsburgh Daily Post, Pittsburgh, PA, Wed., Jan. 10, 1923.
- The Pittsburgh Daily Post, Pittsburgh, PA, Wed., Apr. 15, 1925.
- Pittsburgh Sun-Telegraph, Pittsburgh, PA, Wed., Oct. 8, 1947.
- The Pittsburgh Press, Pittsburgh, PA, Sun., Nov. 16, 1947.