California National Bank/California First NB, Long Beach, CA (Charter 11873)
California National Bank/California First NB, Long Beach, CA (Chartered 1920 - Open past 1935)
Town History
Long Beach is a city in Los Angeles County, California. It is the 43rd-most populous city in the United States, with a population of 466,742 as of 2020. A charter city, Long Beach is the seventh-most populous city in California, the second most populous city in Los Angeles County, and the largest city in California that is not a county seat city.
Incorporated in 1897, Long Beach lies in Southern California, in the southern part of Los Angeles County. Long Beach is approximately 20 miles south of downtown Los Angeles, and is part of the Gateway Cities region. The Port of Long Beach is the second busiest container port in the United States and is among the world's largest shipping ports. The city is over an oilfield with minor wells both directly beneath the city as well as offshore.
The city is known for its waterfront attractions, including the permanently docked RMS Queen Mary and the Aquarium of the Pacific. The town grew as a seaside resort with light agricultural uses. The Pike was the most famous beachside amusement zone on the West Coast from 1902 until 1969; it offered bathers food, games and rides, such at the Sky Wheel dual Ferris wheel and Cyclone Racer roller coaster. Gradually the oil industry, Navy shipyard and facilities and port became the mainstays of the city. In the 1950s it was referred to as "Iowa by the sea", due to a large influx of people from that and other Midwestern states.
Long Beach had seven National Banks chartered during the Bank Note Era, and all seven of those banks issued National Bank Notes.
Bank History
- Organized May 22, 1920
- Chartered November 19, 1920
- Bank was Open past 1935
In May 1920, the directors of the Home National Bank of Long Beach at a special meeting voted to change the name of the institution to the California National Bank. Word was received on the 25th of the approval by the comptroller of the currency. The directorate was composed of F.L. Dennie, Herbert M. Haskell, E.H. Horsch, Fred Huber, R.D. McCook, Nelson McCook, W.J. Towner, mayor of Osage, Iowa, and Frank E. Wall.[1] The McCooks owned several different banking institutions. Nelson McCook was the president of the First National Bank, Sumner, Iowa, and vice president of the Riceville State Bank, Riceville, Iowa.[2] On Friday, October 22d, Fred L. Dennie, one of the vice presidents of the institution was elected cashier at a special meeting of the directors. Mr. Dennie owned the Dennie apartment house on Ocean Boulevard and was president of the Quarrymen's State Bank at Sandstone, Minnesota, before he came to Long Beach. M.A. White, former president of the Ravalli County Bank at Hamilton, Montana, who had been in Long Beach about six months, was elected assistant cashier. The officers were Nelson McCook, president; F.L. Dennie, Herbert M. Haskell, and Frank E. Wall, vice presidents.[3]
On December 4, 1920, the new California National Bank at Long Beach marked its opening day with total deposits of over $250,000. The bank, capitalized at $100,000, was organized by R.D. McCook, president of the American National Bank of San Bernardino and his brother Nelson McCook, the latter being the president of the Long Beach institution. Both were members of the board of directors. The new bank, the ninth for the city, was located at the corner of First and Locust Avenue in the Long Beach business district.[4] "The Tremendous power of newspaper advertising was demonstrated when 697 persons deposited approximately a quarter of a million dollars in the California National Bank," said Nelson McCook, president of the new bank. "The average advertiser is unable to compute the exact returns from his advertising but in our case we know because all of our advertising was done through newspapers and to them must be given credit for the results."[5]
In March 1922, the officers were Nelson McCook, president; Fred L. Dennie, Herbert M. Haskell, Frank E. Wall, and W.J. Towner, vice presidents; M.A. White, cashier; Graydon Hoffman and Fonda McCook, assistant cashiers; E.H. Horsch, Fred Huber, Harry ross, and R.D. McCook, directors.[6]
On Thursday, June 6, 1929, at a special meeting of the stockholders of the California National Bank, it was voted to change the name of the bank to the California First National bank of Long Beach. This action was the formal ratification of approval recently granted by the comptroller of the currency for such a change in name. It was the privilege of the oldest national bank in each city throughout the United States to use the title "First National Bank." The name "First National Bank" went out of use in Long Beach when that institution became merged with the Bank of America of California, San Francisco, several months earlier. It was also voted by the stockholders to declare a stock dividend. According to the plan adopted, a dividend of $80,000 was declared, entitling each present stockholder to a 40% increase in his holdings. The balance of the increased capitalization was placed in the hands of new stockholders. This increase provided for capital, surplus and undivided profits of approximately $470,000 and total resources of $5,500,000. Par value of the stock would be reduced from $100 per share to $20.[7]
The bank started business at First and Locust Avenues and when the quarters were outgrown 4 1/2 years later, a new location with twice the space was obtained at the northwest corner of First Street and Pine Avenue in the Metropolitan Building. Here the bank opened on June 5, 1925. The present officers were Nelson McCook, president; Fred L. Dennie, Herbert M. Haskell, frank E. Wall, W.J. Towner, Graydon Hoffman, vice presidents; M.A. White, cashier; Karle B. Morgan, Fonda McCook, S.W. Coverdale, assistant cashiers; Rupert F. McCook, manager, new business department; and H.L. Schmitz, auditor. The directors were Fred L. Dennie, Herbert M. Haskell, E.H. Horsch, Graydon Hoffman, Tom R. Merrell, Nelson McCook, R.D. McCook, harry Ross, W.J. Turner, and Frank E. Wall.[8]
Official Bank Titles
1: The California National Bank of Long Beach, CA
2: California First National Bank of Long Beach, CA (6/10/1929)
Bank Note Types Issued
A total of $1,977,870 in National Bank Notes was issued by this bank between 1920 and 1935. This consisted of a total of 159,741 notes (104,848 large size and 54,893 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1: 1902 Plain Back 3x10-20 1 - 26212 2: 1929 Type 1 6x10 1 - 6798 2: 1929 Type 1 6x20 1 - 1914 2: 1929 Type 2 10 1 - 2271 2: 1929 Type 2 20 1 - 350
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1920 - 1935):
Presidents:
Cashiers:
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
- California NB/California FNB, Long Beach, CA History (NB Lookup)
- California Bank Note History (BNH Wiki)
Sources
- Long Beach, CA, 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 Long Beach Telegram and The Long Beach Daily News, Long Beach, CA, Tue., May 25, 1920.
- ↑ The Long Beach Telegram and The Long Beach Daily News, Long Beach, CA, Mon., Apr. 12, 1920.
- ↑ The Long Beach Telegram and The Long Beach Daily News, Long Beach, CA, Sat., Oct. 23, 1920.
- ↑ The San Bernardino County Sun, San Bernardino, CA, Sun., Dec. 5, 1920.
- ↑ Press-Telegram, Long Beach, CA, Tue., Dec. 7, 1920.
- ↑ The Long Beach Telegram and The Long Beach Daily News, Long Beach, CA, Fri., Mar. 31, 1922.
- ↑ The Long Beach Sun, Long Beach, CA, Fri., June 7, 1929.
- ↑ The Long Beach Sun, Long Beach, CA, Fri., June 7, 1929.