City National Bank, Dallas, TX (Charter 2455)

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Postcard of the City National Bank of Dallas, Texas, ca1900s.
Postcard of the City National Bank of Dallas, Texas, ca1900s. Courtesy of Adam Stroup

City National Bank, Dallas, TX (Chartered 1880 - Closed 1929)

Town History

Postcard of the new City National Bank, postmarked 1918.
Postcard of the new City National Bank, postmarked 1918. Courtesy of Heritage Auctions, www.ha.com

Dallas is the most populous city in the Dallas–Fort Worth metroplex, the fourth-largest metropolitan area in the United States at 7.5 million people. It is the largest city in and seat of Dallas County in the U.S. state of Texas with portions extending into Collin, Denton, Kaufman and Rockwall counties. With a 2020 census population of 1,304,379, it is the ninth most-populous city in the U.S. and the third-largest in Texas after Houston and San Antonio. In 1880 the population was 10,358, increasing to 269,475 by 1930.

Located in the North Texas region, the city of Dallas is the main core of the largest metropolitan area in the southern United States and the largest inland metropolitan area in the U.S. that lacks any navigable link to the sea. The cities of Dallas and nearby Fort Worth were initially developed due to the construction of major railroad lines through the area allowing access to cotton, cattle and later oil in North and East Texas. The construction of the Interstate Highway System reinforced Dallas's prominence as a transportation hub, with four major interstate highways converging in the city and a fifth interstate loop around it. Dallas then developed as a strong industrial and financial center and a major inland port, due to the convergence of major railroad lines, interstate highways and the construction of Dallas/Fort Worth International Airport, one of the largest and busiest airports in the world.

Dallas had 28 National Banks chartered during the Bank Note Era, and 27 of those banks issued National Bank Notes.

Bank History

Photo of Main Street, Dallas ca1920
Photo of Dallas' Main Street ca1920. The Dallas National Bank, Dreyfuss & Son, and City National Bank on left and Linz Bros. Diamonds on right. Dreyfuss & Son was located at Main and Murphy Streets and was chartered in 1911. View opposite direction from postcard. Courtesy of DeGolyer Library, Southern Methodist University
  • Organized January 29, 1880
  • Chartered February 17, 1880
  • Succeeded City Bank
  • Assumed 3008 by consolidation May 8, 1886 (Dallas National Bank, Dallas, TX)
  • Assumed 3664 by consolidation February 10, 1894 (Fourth National Bank/State NB, Dallas, TX)
  • Assumed 9341 by consolidation December 11, 1909 (Trinity National Bank, Dallas, TX)
  • Absorbed 10965 and its circulation May 11, 1920 (Tenison National Bank, Dallas, TX)
  • Closed December 31, 1929
  • Consolidated with 3623 December 31, 1929 (American Exchange NB/First NB, Dallas, TX)
  • Circulation assumed by 3623 (American Exchange NB/First NB, Dallas, TX)
  • Building at SW corner of Market and Commerce Streets, formerly occupied by City National Bank Dallas, DeGolyer Library, Southern Methodist University, accessed November 14, 2024.
  • Main Street, Dallas, ca1920., DeGolyer Library, Southern Methodist University, accessed November 24, 2024.

On June 1st, 1873, the City Bank of Dallas commenced operation under a State charter. T.C. Jordan was president and R.P. Aunspaugh, cashier. The directors were T.C. Jordan, J.R. Couts, W.E. Hughes, and C.C. Slaughter.[1] In 1877 the cashier, Thos. K. Fergusson, signed the statement for the bank. At the close of business, assets totaled $144,572.78 with $100,000 in capital stock paid in.[2] In 1878, the president, A.F. Hardie, signed the statement for the bank and assets had increased to $203,330.31.[3]

In May 1880, the officers of the City National Bank were J.F. Hardie, president; J.C. O'Conner, vice president and Paul Furst, acting cashier. The directors were J.E. Schneider, R.V. Tompkins, B.S. O'Connor, J.C. O'Connor, Alfred Davis, W.C. Connor, and A.F. Hardie.[4]

In February 1881, the officers were J.C. O'Connor, president, C.C. Slaughter, vice president, and E.J. Gannon, cashier. The directors were A. Davis, C.C. Slaughter, J.C. O'Connor, W.R. McEntire, Edwin Smith, R.V. Tompkins and E.J. Gannon. The capital was $100,000.[5]

In January 1883, the officers re-elected were J.C. O'Connor, president; C.C. Slaughter, vice president; and E.J. Gannon, cashier. The directors were J.C. O'Connor, C.C. Slaughter, E.J. Gannon, R.V. Tompkins, W.R. McEntire, W.L. Hall, and J.B. Wilson. The capital was $100,000 with $35,000 surplus.[6]

In January 1885, the officers were J.C. O'Connor, M.L. Crawford, vice president; and J.F. O'Connor, cashier. The directors were L.A. Peres, Alfred Davis, M.L. Crawford, J.C. O'Connor, E.P. Cowen, H.P. Lanz, and J.F. O'Connor. The capital was $100,000 with $60,000 surplus.[7]

The consolidation of the Dallas National Bank and the City National Bank was consummated on April 30, 1886. The City National moved into the quarters of the Dallas National Bank, one of the handsomest bank offices in Texas. The officers of the consolidated bank were J.C. O'Connor, president; J.T. Trezevant, Jr., vice president; and E.M. Reardon, cashier. The new bank had capital was $250,000 and would operate under the charter and title of the City National Bank of Dallas. The directors were T.L. Marsalis, B. Blankenship, J.T. Trezevant, Jr., Alfred Davis, A.J. Porter, J.C. O'Connor, C.A. Keating, L.A. Peres, M.L. Crawford, J.F. O'Connor, Alex Sanger, E.M. Reardon, W.B. Worsham of Henrietta, T. Wister Brown of Philadelphia, and S.G. Payne of Bradford, Pennsylvania.[8]

On January 13, 1892, the stockholders elected the following directors: Alex Sanger, Alfred Davis, J.F. O'Connor, J.E. Schneider, J.T. Trezevant, M.L. Crawford, Guy Sumpter, L.A. Pires, J.C. O'Connor, E.M. Reardon, and T. Wistar Brown.[9]

On February 10, 1894, the consolidation of the State National and City National Banks of Dallas was effected. John C. Armstrong of the State National was elected president and E.C. Tenison of the State National, cashier. The new bank kept The City National Bank title and J.C. O'Connor and E.M. Reardon remained actively connected as vice presidents with the new institution.[10][11]

In January 1895, the officers were J.C. O'Connor, president, in place of J.S. Armstrong who resigned; E.M. Reardon, vice president in place of J.C. O'Connor; J.E. Schneider, second vice president in place of E.M. Reardon.[12] 

On January 20, 1909, arrangements were made for the organization of the Trinity National Bank, a new institution with capital of $600,000.  The organizing directors included J.B. Wilson, R.H. Stewart, J. Howard Ardrey and others.  Mr. Ardrey had his office in the headquarters of the institution at 295 Main Street. The bank opened on February 17th and approximately $2 million in deposits were received which was a new record for Texas exceeding the old record by $500,000.  Stockholders, directors and officers were confident that in the near future the bank would be one of the leading financial institutions of the southwest.[13][14]

On December 11, 1909, two of the largest National banks in Texas were merged through the purchase of the stock of the Trinity National Bank by the City National Bank. The combined resources of the merged concern approximated $11,000,000. Most of the Trinity bank's stockholders and officers would be identified thereafter with the City National. J.B. Wilson, the well-known Dallas millionaire and president of the Trinity National, became a vice president of the new organization of the City National. E.O. Tenison continued as president.[15]

On Saturday, April 10, 1920, The Tenison National Bank was merged with the City National Bank with R.H. Stewart as president of the consolidated institution. E.O. Tenison, former president of the Tenison National Bank became chairman of the board of directors of the City National, filling the vacancy left by the recent death of J.B. Wilson. The merger gave the City National capital stock of $1,500,000, surplus of $2,250,000 and undivided profits of $500,000, making a total of $4,250,000. On this basis City National was now the largest bank in the southwest. The capital stock was increased $500,000 and the surplus $750,000 through the merger. Total resources of the bank amounted to approximately $43 million. E.O. Tenison, new chairman of the board of directors served as president of the City National for fifteen years, severing his connection in 1914 to become the first Federal Reserve Agent and chairman of the board of directors of the Federal Reserve Bank in Dallas. Officers were R.H. Stewart, president; E.O. Tenison, chairman of the board; J. Dabney Day, first vice president; Lang Wharton, vice president; E.W. Rose vice president; George Waverly Briggs, vice president; Stewart Beckley, cashier; Ray Nesbit, Soula J. Smyth, and C.J. Savage, assistant cashiers.[16]

On November 4, 1929, merger of the American Exchange National Bank and the City National Bank of Dallas was announced by the directors of the institutions. Subject to approval of the stockholders and the comptroller of currency, the merged institution would have total assets of approximately $110,000,000 and would be the biggest bank in the Southwest. The merger was the largest ever accomplished by Texas financial institutions. The American Exchange National Bank grew out of a business organized by W.H. Gaston and A.J. Camp in 1871. Numerous mergers occurred which finally built the institution up until it had resources of $72,081,399 and deposits of $54,361,394. Colonel William E. Hughes purchased a private banking business in 1872 and organized the City Bank, which in time became the City National Bank with resources of $37,641,903 and deposits of $31,374,117.[17]

Official Bank Title

1: The City National Bank of Dallas, TX

Bank Note Types Issued

1875 $5 bank note with pen signatures of E.O. Tenison, Cashier and Guy Sumpter, Vice President.
1875 $5 bank note with pen signatures of E.O. Tenison, Cashier and Guy Sumpter, Vice President. Courtesy of Heritage Auctions, www.ha.com
1882 Value Back $5 bank note with pen signatures of Lang Wharton, Cashier and R.H. Stewart, President.
1882 Value Back $5 bank note with pen signatures of Lang Wharton, Cashier and R.H. Stewart, President. Courtesy of Heritage Auctions, www.ha.com
1882 Value Back $10 bank note with printed signatures of Lang Wharton, Cashier and R.H. Stewart, President. The BEP prepared a new 10-10-10-20 plate approved November 7, 1917 with the secured by clause updated to Deposited with the U.S. Treasurer at Washington.
1882 Value Back $10 bank note with printed signatures of Lang Wharton, Cashier and R.H. Stewart, President. The BEP prepared a new 10-10-10-20 plate approved November 7, 1917 with the secured by clause updated to Deposited with the U.S. Treasurer at Washington. Courtesy of Lyn Knight Auctions, www.lynknight.com
1902 Plain Back $5 bank note with printed signatures of Soula J. Smyth, Cashier and J.A. Pondrom, President.
1902 Plain Back $5 bank note with printed signatures of Soula J. Smyth, Cashier and J.A. Pondrom, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1902 Plain Back $20 bank note with printed signatures of C.J. Savage, Cashier and J.A. Pondrom, President.
1902 Plain Back $20 bank note with printed signatures of C.J. Savage, Cashier and J.A. Pondrom, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $20 bank note with printed signatures of C.J. Savage, Cashier and J.A. Pondrom, President.
1929 Type 1 $20 bank note with printed signatures of C.J. Savage, Cashier and J.A. Pondrom, President. Courtesy of Heritage Auctions, www.ha.com

A total of $18,823,300 in National Bank Notes was issued by this bank between 1880 and 1929. This consisted of a total of 2,274,492 notes (2,207,268 large size and 67,224 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
Series 1875 4x5 1 - 6000
Series 1875 3x10-20 1 - 6883
1882 Brown Back 3x10-20 1 - 15600
1882 Date Back 4x5 1 - 78750
1882 Date Back 3x10-20 1 - 64200
1882 Value Back 4x5 78751 - 116247
1882 Value Back 3x10-20 64201 - 83887 Secured by Clause updated for the GHIC Plate

approved November 7, 1917

1902 Plain Back 4x5 1 - 189650
1902 Plain Back 3x10-20 1 - 133230
1902 Plain Back 3x50-100 1 - 320
1929 Type 1 6x5 1 - 6526
1929 Type 1 6x10 1 - 3863
1929 Type 1 6x20 1 - 815

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1880 - 1929):

Presidents:

Cashiers:

Other Bank Note Signers

Wiki Links

Sources

  • Dallas, TX, 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 Dallas Daily Herald, Dallas, TX, Fri., June 6, 1873.
  2. ↑ The Dallas Daily Herald, Dallas, TX, Thu., Feb. 1, 1877.
  3. ↑ The Dallas Daily Herald, Dallas, TX, Tue., Jan. 8, 1878.
  4. ↑ The Dallas Daily Herald, Dallas, TX, Tue., May 25, 1880.
  5. ↑ The Dallas Daily Herald, Dallas, TX, Tue., Feb. 22, 1881.
  6. ↑ The Dallas Daily Herald, Dallas, TX, Fri., Jan. 19, 1883.
  7. ↑ The Dallas Daily Herald, Dallas, TX, Sun., Jan. 4, 1885.
  8. ↑ The Galveston Daily News, Galveston, TX, Sat., May 1, 1886.
  9. ↑ The Galveston Daily News, Galveston, TX, Thu., Jan. 14, 1892.
  10. ↑ Austin American-Statesman, Austin, TX, Sun., Feb. 11, 1894.
  11. ↑ The Galveston Daily News, Galveston, TX, Sun., Feb. 11, 1894.
  12. ↑ The Galveston Daily News, Galveston, TX, Tue., Feb. 19, 1895.
  13. ↑ The Fort Worth Record and Register, Fort Worth, TX, Thu., Jan. 21, 1909.
  14. ↑ Wise County Messenger, Decatur, TX, Fri., Feb. 19, 1909.
  15. ↑ Austin American-Statesman, Austin, TX, Sun., Dec. 12, 1909.
  16. ↑ Fort Worth Star-Telegram, Fort Worth, TX, Sun., Apr. 11, 1920.
  17. ↑ Austin American, Austin, TX, Tue., Nov. 5, 1929.
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