City National Bank, Poughkeepsie, NY (Charter 1305)

The City Bank of Poughkeepsie, Obsolete $20 proof, Haxby NY-2260, dated September 10th, 1860. The highest denomination from a quartet of City Bank two-color proofs that once resided in the Newman collection. At left is a floating allegorical female, ''Morning'' as originally engraved for Bald, Cousland & Co., holding a branch. She is barely contained by the rectangular frame, as her head, feet and drapery touch the edges. The other ¾ of the note shows a portrait of a sophisticated woman beneath the arced title. Courtesy of Heritage Auctions, www.ha.com

City National Bank, Poughkeepsie, NY (Chartered 1865 - Liquidated 1901)

Town History

The City Bank of Poughkeepsie, Obsolete $1 bank note, Haxby NY-2260, signed by Jno. T. Banker, Cashier and J.F. Barnard, President, dated September 10th, 1860. At top center, cattle standing in a stream with sheep and farmhouse in background. Numeric counters are in the upper corners, and a dog and strongbox with two bags on top at lower right. An American Bank Note Co. note. Courtesy of Heritage Auctions, www.ha.com

The old Poughkeepsie Trust Company at 236 Main Street, ca2024. Courtesy of Google Maps

Poughkeepsie (/pəˈkɪpsi/ pə-KIP-see), officially the City of Poughkeepsie, which is separate from the Town of Poughkeepsie around it, is a city in the U.S. state of New York. It is the county seat of Dutchess County, with a 2020 census population of 31,577. The City of Poughkeepsie and neighboring Town of Poughkeepsie are generally viewed as a single place and are commonly referred to collectively as "Poughkeepsie", with a combined population of 77,048 in 2020. Poughkeepsie is in the Hudson River Valley region, midway between the core of the New York metropolitan area and the state capital of Albany. It is served by the nearby Hudson Valley Regional Airport and Stewart International Airport in Orange County, New York.

Poughkeepsie has been called "The Queen City of the Hudson". It was settled in the 17th century by the Dutch and became New York State's second capital shortly after the American Revolution. Poughkeepsie is situated between the Lower Hudson and the Capital District regions, and the city's economy is stimulated by several major corporations, including IBM. Educational institutions include Marist College, Vassar College, Dutchess Community College and The Culinary Institute of America. The Eastman Business College was a business school located in Poughkeepsie, New York. It operated from 1859 until it closed in 1931. At the height of its success, the school was one of the largest commercial colleges in the United States. Eastman Business College was founded in 1859 by Harvey G. Eastman in Poughkeepsie. Rather than merely being a theoretical school, students gained practical experience in the business arts by actually performing the tasks that would be expected of them in their working careers, a novel approach at the time.

The name Poughkeepsie is derived from a word in the Wappinger tribe's Munsee language, roughly U-puku-ipi-sing, meaning 'the reed-covered lodge by the little-water place', referring to a spring or stream feeding into the Hudson River south of the downtown area. English colonist Robert Sanders and Dutch colonist Myndert Harmense Van Den Bogaerdt acquired the land from a local Native American tribe in 1686, and the first settlers were the families of Barent Baltus Van Kleeck and Hendrick Jans van Oosterom. The settlement grew quickly, and the Reformed Church of Poughkeepsie was established by 1720.

The city of Poughkeepsie was spared from battle during the American Revolutionary War and became the second capital of the State of New York after Kingston was burned by the British. In 1788, the Ratification Convention for New York State included Alexander Hamilton, John Jay, and George Clinton. They assembled at the courthouse on Market Street and ratified the United States Constitution, and New York State entered the new union as the eleventh of the original Thirteen Colonies to become the United States. In 1799, a new seal was created for the city.

The community was set off from the town of Poughkeepsie when it became an incorporated village on March 27, 1799. The city of Poughkeepsie was chartered on March 28, 1854. The population in 1860 was 14,726, growing to 34,288 by 1930. Major bridges in the city include the Walkway over the Hudson, a former railroad bridge called the Poughkeepsie Bridge which reopened as a public walkway on October 3, 2009; and the Mid-Hudson Bridge, a major thoroughfare built in 1930 that carries U.S. Route 44 over the Hudson.

Poughkeepsie had six National Banks chartered during the Bank Note Era, and all six of those banks issued National Bank Notes.

Bank History

A 1901 advertisement for the Poughkeepsie Trust Company.

A 1956 advertisement for the Dutchess Bank & Trust Company.

• Organized June 3, 1865
• Chartered June 19, 1865
• Succeeded City Bank
• Liquidated August 9, 1901

In March 1860, a new banking association under the title of the City Bank of Poughkeepsie with a capital of $150,000, was organized with John P.H. Tallman, president; and John T. Banker, cashier. On April 26, 1860, at a meeting of the board of directors, it was resolved that the association would go into operation on the first day of August. Also, subscriptions were payable on or after the first day of May either to Joseph F. Barnard, president, at his office, or to John T. Banker, cashier, at his residence, No. 38 Conklin Street (previous to the fitting up of the banking house) and that interest would be allowed at the rate of 6% from the time of payment until the bank commenced business. Books for subscription of the balance of the stock were open at the office of the president. John P.H. Tallman was attorney, and the directors were Joseph F. Barnard, Benjamin F. Halsted, William R. Schell, Benjamin Hopkins, John Brill, Milton Ham, Moses C. Sands, Wilson B. Sheldon, Nicholas H. Strippel, George Lamoree, David D. Vincent, Christopher, Hughes, and Samuel Matthews. The building on the corner of Main and Market Streets was purchased in 1860 for $9,000.

In November 1864, John T. Banker, formerly cashier of the City Bank of Poughkeepsie, accepted an appointment as cashier of the Hanover Bank, New York City. Mr. A.H. Champlin, for 13 years teller in the Famers' and Manufacturers' Bank of Poughkeepsie was appointed on Thursday, November 3rd, as Mr. Banker's successor.

On December 15, 1872, The Sunday Courier was started by Mr. T.G. Nichols, the office being located in the third story of the City National Bank Building, on the corner of Main and Market Streets. The paper was published every Sunday morning.

In February 1874, finely executed counterfeit $20s were reported on the City National Bank of Poughkeepsie.

On Tuesday, January 11, 1881, at the annual election held at the banking house the following were chosen directors for the ensuing year: Aaron Innis, Oliver H. Booth, Richard Kenworthy, Walter H. Sutherland, Milton Ham, George Lamoree, Peter Hulme, Henry Booth, Hudson Taylor, Walter Van Kleeck, J.V. Harbottle, Wilson B. Sheldon, Sam'l Matthews, Ezra White, Harvey H. Owen, Ambrose Wager, and Theo. V. Johnston. Inspectors for the next election selected were H.A. Nelson, D.W. Guernsey, and R.E. Taylor. At a subsequent meeting of the board of directors, Aaron Innis was elected president and Hudson Taylor, vice president. A.H. Champlin was cashier.

In January 1890, the following directors were elected for the ensuing year: Hudson Taylor, Homer A. Nelson, Oliver H. Booth, Theodore V. Johnston, Peter Hulme, Wilson B. Sheldon, George Lamoree, Harvey H. Owen, and Hudson L. Taylor. Inspectors of Election selected were Robert E. Taylor, Allison Butts, and E.C. Adriance. Hudson Taylor was unanimously re-elected president, and Homer A. Nelson, vice president. A semi-annual dividend of 4% was declared. H.L. Taylor was cashier.

In January 1900, the following directors were elected for the ensuing year: Hudson Taylor, Theo. V. Johnston, James L. Williams, Wilson B. Shelden, Geo. Lamoree, Peter Hulme, Harvey H. Owens, Chas. W. Pilgrim, and H.L. Taylor. Inspectors of Election selected were Allison Baits, E.C. Adriance, and John P. Ambler. Hudson Taylor was unanimously re-elected president and Theodore V. Johnston, vice president. A semi-annual dividend of 3% was declared.

On Tuesday, August 27, 1901, the necessary papers for the incorporation of the Poughkeepsie Trust Company were filed in the office of County Clerk Bostwick. The capital stock of the company was $125,000 divided into 1,500 shares. The stockholders were Robert H. Hunter, James W. Hinkley, Isaac W. Sherrill, George M. Hine, Hudson Taylor, Arthur G. Tobey, Thomas W. Barrett, J. Wilson Poucher, Peter H. Troy, Stephen G. Guernsey, Benjamin P. Wayne, Charles W.H. Arnold, William H. Frank, Samuel K. Rupley, Hames L. Williams, Adna F. Heaton, James B. Platt, and Charles Morschauser. A certificate of authorization to begin business was issued on Sunday, September 8th by Banking Superintendent Kilburn. Its capital stock was $125,000, divided into 2,500 shares. On Tuesday, September 10th, the directors elected the following officers: S.G. Guernsey, president; Hudson Taylor and Hon. Jacob Lefever, vice presidents; Thomas W. Barrett, treasurer; William C. Champlin, secretary; J.W. Hinkley, Isaac W. Sherrill, S.G. Guernsey, Adna F. Heaton, and C.W.H. Arnold, executive committee. The Poughkeepsie Trust Company was a consolidation of the Poughkeepsie National Bank (Charter 1306) and the City National Bank of Poughkeepsie (Charter 1305).

On October 15, 1956, the Poughkeepsie Trust Company and Merchants National Bank (Charter 1380) merged and opened for business as Dutchess Bank & Trust Company. Complete banking services were available at 236 Main Street or 285 Main Street.

In 1988, the Bank of New York completed the merger with Dutchess Bank & Trust Company, acquired in the takeover of former Dutchess Bank parent Irving Bank Corp. The 10 Dutchess Bank branches were added to Bank of New York's 8-branch network in Dutchess County. Robert Hannan was named president of the bank's reorganized Dutchess Division. Jack McEnroe was president of Dutchess Bank.

Official Bank Title

1: The City National Bank of Poughkeepsie, NY

Bank Note Types Issued

1882 Brown Back $10 bank note with pen signatures of H.L. Taylor, Cashier and T.V. Johnston, Vice President. Courtesy of Heritage Auctions, www.ha.com

A total of $694,100 in National Bank Notes was issued by this bank between 1865 and 1901. This consisted of a total of 74,012 notes (74,012 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
Original Series	4x5	1 - 7000
Original Series	3x10-20	1 - 1789
Original Series	50-100	1 - 334
Series 1875	4x5	1 - 2960
Series 1875	3x10-20	1 - 1651
Series 1875	50-100	1 - 208
1882 Brown Back	3x10-20	1 - 4832

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1901):

Presidents:

• Hon. Joseph Folger Barnard, 1865-1879
• Aaron Innis, 1880-1883
• Hudson Taylor, 1884-1901

Cashiers:

• Albert Horace Champlin, 1865-1883
• Hudson Lindsley Taylor, 1884-1901

Other Known Bank Note Signers

• Theodore Van Tine Johnston (VP 1897...1901)

Bank Note History Links

• City National Bank, Poughkeepsie, NY History (NB Lookup)
• New York Bank Note History (BNH Wiki)

Sources

• Poughkeepsie, NY, 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