City National Bank, Mayfield, KY (Charter 5033)
City National Bank, Mayfield, KY (Chartered 1896 - Closed 1927)
Town History
Mayfield is located in Graves County. Mayfield is in the center of the Jackson Purchase, an eight-county region purchased by Isaac Shelby and Andrew Jackson from the Chickasaw people in 1818. Mayfield was established as the county seat of Graves County in 1821, and the county was formally organized in 1823. John Anderson is believed to have been the first white settler, arriving in 1819 and building a log home on Mayfield Creek. In December 1821, Anderson was appointed county court clerk and moved about two and a half miles to the site that became Mayfield. According to Trabue Davis, the town's name originates indirectly from a gambler named Mayfield, who was kidnapped about 1817 at a racetrack near what is now Hickman. He was carried to the site of today's Mayfield, where he carved his name into a tree in hopes that someone would see it. He tried to escape but drowned trying to cross what is now called Mayfield Creek. The town took its name from the creek.
The completion of the Memphis, New Orleans, and Northern Railroad in 1858 connected Mayfield with the outside world. Beginning with the founding of the Mayfield Woolen Mills in 1860, manufacturing clothing became the main industry in Mayfield for the next hundred years. The town was also a major market for loose-leaf tobacco, and was part of the Black Patch, where Dark Fired Tobacco was processed.
Mayfield had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes.
Bank History
- Organized January 21, 1896
- Chartered February 1, 1896
- Succeeded Bank of Mayfield
- Closed July 2, 1927
- Consolidated with 2245 July 2, 1927 (First National Bank, Mayfield, KY)
- Circulation assumed by 2245 (First National Bank, Mayfield, KY)
In March 1893, the second bank organized in Mayfield, the Bank of Mayfield, commenced buisiness and had its office in the rear of one of the stores. It soon grew and the building on the corner of 7th and Broadwas was acquired and fitted up with new fixtures. The Hon. L. Anderson was president, J.N. Beadles, cashier, R.A. Mayes, assistant cashier and W.W. Beadles, assistant bookkeeper. The directors were W.W. Tice, W.J. Slayden, R.A. Mayes, Lucian Anderson and J.N. Beadles.
On January 17, 1896, the comptroller of the currency authorized the organization of the City National Bank of Mayfield, Kentucky, capital $100,000.
In May 1924, the City National Bank was an Honor Roll bank with a strong capital of $100,000 and surplus of $100,000. The total resources were nearly 700,000. Judge D.B. Stanfield, one of the veteran bankers of West Kentucky was president and Terry P. Smith, cashier. A "Roll of Honor Bank" was one with surplus funds equal to or exceeding its capital stock.
On June 15, 1925, Judge D.B. Stanfield, aged 78, one of the most prominent citizens of Mayfield, died at the home of his sister, Mrs. Marianna Mayes, in Mineral Wells, Texas. In his youth he studied law and on the death of Judge Barton in the 1870s, was appointed to fill out his unexpired term as county judge. He was a law partner of his uncle, A.R. Boone, for many years a congressman. Through his mother, Nancy Caroline Boone, he was a descendent of Daniel Boone, his namesake. Leaving the practice of law, he entered the First National Bank as cashier and during the time that Major H.S. Hale was treasurer of the State of Kentucky, was elected president. In 1896, upon the return of Major Hale to Mayfield, he went with the City National Bank which was just organized from the Bank of Mayfield as its president.
On March 10, 1927, plans were approved for the merger of the City National Bank and First National Bank of Mayfield. The new bank would be Western Kentucky's first $1,000,000 bank, making it the largest between Louisville and Memphis. The capital stock and surplus of the new bank would exceed $1 million with resources exceeding $4 million. Under the merger, Ed Gardner remained as president, Terry P. Smith, president of City National, would become vice president and trust officer of the new bank. C.C. Wyatt, cashier of First National, retained his title. Directors for the new institution would be selected from the ten directors of the two banks. There were Dr. E.A. Stevens, T.P. Smith, J.W. Pryor, R.N. Stanfield, and R.O. Wilford, City National, and Ed Gardner, J.U. Kevil, Dr. J.F. Kirksey, P.J. Wright and N.A. Hale, First National.
Official Bank Title(s)
1: The City National Bank of Mayfield, KY
Bank Note Types Issued
A total of $910,650 in National Bank Notes was issued by this bank between 1896 and 1927. This consisted of a total of 52,372 notes (52,372 large size and No 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 3x10-20 1 - 6400 1882 Date Back 3x10-20 1 - 5413 1902 Plain Back 3x50-100 1 - 1280
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1896 - 1927):
Presidents:
Cashiers:
- Rollin Anderson Mayes, 1896-1905
- Wiltz William Beadles, 1906-1908
- Terry Patillo Smith Sr., 1909-1924
- Leslie Chapman, 1925-1926
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Mayfield, KY, 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 Lexington Herald, Lexington, KY, Sat., Jan. 18, 1896.
- The Paducah Sun-Democrat, Paducah, KY, Mon., May 5, 1924.
- News-Democrat, Paducah, KY, Wed., June 17, 1925.
- The Courier-Journal, Louisville, KY, Fri., Mar. 11, 1927.