Commercial National Bank, Houston, TX (Charter 3517)

From Bank Note History
Jump to navigation Jump to search
A 1910 photo of the interior of the Commercial National Bank of Houston, Texas.
A 1910 photo of the interior of the Commercial National Bank of Houston, Texas.

Commercial National Bank, Houston, TX (Chartered 1886 - Liquidated 1912)

Town History

The Commercial National Bank of Houston, Texas, ca1910. The building was located on the corner of Main Street and Franklin Avenue.
The Commercial National Bank of Houston, Texas, ca1910. The building was located on the corner of Main Street and Franklin Avenue.

Houston is the most populous city in Texas, fourth-most populous city in the United States, most populous city in the Southern United States, as well as the sixth-most populous in North America, with a population of 2,304,580 in 2020. Located in Southeast Texas near Galveston Bay and the Gulf of Mexico, it is the seat of Harris County. The city of Houston was founded by land investors on August 30, 1836, at the confluence of Buffalo Bayou and White Oak Bayou (a point now known as Allen's Landing) and incorporated as a city on June 5, 1837. It is named after former General Sam Houston, who was president of the Republic of Texas and had won Texas's independence from Mexico at the Battle of San Jacinto 25 miles east of Allen's Landing. After briefly serving as the capital of the Texas Republic in the late 1830s, Houston grew steadily into a regional trading center for the remainder of the 19th century.

Since the late 19th century Houston's economy has had a broad industrial base in energy, manufacturing, aeronautics, and transportation. Leading in healthcare sectors and building oilfield equipment, Houston has the second-most Fortune 500 headquarters of any U.S. municipality within its city limits (after New York City). The Port of Houston ranks first in the United States in international waterborne tonnage handled and second in total cargo tonnage handled.

Nicknamed the "Bayou City", "Space City", "H-Town", and "the 713", Houston has become a global city, with strengths in culture, medicine, and research.

Houston had 22 National Banks chartered during the Bank Note Era, and 21 of those banks issued National Bank Notes.

Bank History

The Commercial National Bank of Houston under construction, ca1910.
The Commercial National Bank of Houston under construction, ca1910.

On Thursday, July 1, 1886, the new Houston bank, The Commercial National, opened in the building formerly occupied by the late City Bank on the corner of Main and Franklin Streets. On June 30, Messrs. John T. Hardin, Sam Boyd, H. Gardes, and M.B. Lewis of New Orleans, the principal stockholders in the concern, arrived in Houston to make necessary arrangements for the opening. The capital stock of the bank was $200,000 with the principal portion of the stock owned by foreign capitalists.

On Tuesday, January 11, 1887, the following gentlemen were unanimously elected directors: Judge E.P. Hill, Messrs. M.T. Jones, W.B. Chew, Conrad Bering, Adam Clay, H. Gardes, and Dr. D.F. Stuart. The only changed was the election of Dr. D.F. Stuart in place of E.L. Coombs, the latter desired to be relieved of the duties of director of the bank. The directors later met and elected H. Gardes, president; E.P. Hill, vice president; and R.A. Giraud, cashier.

In January 1895, the directors were Presley K. Ewing, Conrad Bering, D.F. Stuart, Adam Clay, William M. Read, E.P. Hilt, and W.B. Chew. The officers were W.B. Chew, president; E.P. Hill, vice president; R.A. Giraud, cashier; and George L. Price, assistant cashier.

In January 1905, the following directors were elected: J.S. Rice, James A. Baker, E.W. Sewall, S.C. Red, Thornwell Fay, J.V. Neuhaus, R.S. Lovett, C.H. Markham, J.M. Dorrance, W.B. Chew, and William M. Rice. The only changes made over the directorate from the previous year was the addition of J.M Dorrance and C.H. Markham. The directors elected the following officers: W.B. Chew, president; James A. Baker, Jr. and J.S. Rice, vice presidents; F.B. Gray, cashier; George L. Price, and W.E. Hertford, assistant cashiers.

In January 1911, the directors were re-elected as follows: James A. Baker, Thornwell Fay, James D. Dawson, J.V. Neuhaus, Conrad Bering, Cleveland Sewall, R.S. Lovett, C.H. Markham, S.C. Red, W.B. Chew, Oscar Wells, and E.B. Parker. The officers were W.B. Chew, president; James A. Baker, vice president; Thornwell Fay, vice president; Oscar Wells, cashier; and P.J. Evershade, assistant cashier.

In January 1912, the old board of directors was re-elected with the exception of Oscar Wells. The directors re-elected the old officers with the exception of Oscar Wells, cashier, whose place was not filled. The directors were: James A. Baker, Baker, Botts, Parker & Garwood, attorneys; Conrad Bering, retired; W.B. Chew, president; James D. Dawson, president, Fidelity Cotton Oil and Fertilizer Co.; Thornwell Fay, president, Southern Pacific lines in Louisiana and Texas; R.S. Lovett, chairman of the board, Union Pacific Railroad Co. and Southern Pacific Co., New York; C.H. Markham, president, Illinois Central Railroad Co., Chicago; J.V. Newhaus, vice president and secretary, South Texas Grain Co.; Edwin B. Parker, Baker, Botts, Parker & Garwood, attorneys; S.C. Red, physician and surgeon; Cleveland Sewall, attorney. The officers were: W.B. Chew, president; James A. Baker, vice president; Thornwell Fay, vice president; P.J. Evershade, assistant cashier.

On Saturday, January 20, 1912, announcement was made that the South Texas National Bank and the Commercial National Bank, both of Houston, would be consolidated probably in March upon completion of legal requirements. The new bank would have capital and resources larger than those of any banking institution in Texas and would be known as the South Texas Commercial National Bank of Houston, located in the present building of the South Texas National Bank. In order to accomplish the consolidation, the two existing banks would go into voluntary liquidation and the consolidated bank would immediately acquire substantially all their assets. The South Texas Commercial National Bank would be organized with paid-up capital of $1,000,000, a surplus of $500,000 and undivided profits of approximately $500,000, opening business with a working capital of about $2 million and total resources of about $15 million. Stockholders of both existing banks would have the privilege of subscribing for shares in the new bank equal to the number of shares held. The directors of the new bank, numbering 25, would consist of all of the directors of the two consolidating banks and would be as follows: James A. Baker, Conrad Bering, R. Lee Bluffer, Horace Bootle, C.H. Brynn, W.B. Chew, James D. Dawson, Charles Dillingham, E.K. Dillingham, John M. Dorrance, Thornwell Fay, Thomas J. Freeman, B.D. Harris, F.A. Hellman, O.T. Holi, R.S. Lovett, H.F. MacGregor, J.E. McAshan, C.H. Markham, J.V. Newhaus, Edwin B. Parker, S.C. Red, Daniel Ripley, Cleveland Sewall, J.J. Settegast, Jr. Officers would be Charles Dillingham, chairman of the board; W.B. Chew, president; B.D. Harris, active vice president and cashier; James A. Baker, John M. Dorrance, J.E. McAshan, Thornwell Fay, vice presidents; August de Zavala, P.J. Evershade, and Paul G. Taylor, assistant cashiers.

On March 2, 1912, the Treasury Department issued the charter for the South Texas Commercial National Bank. The six-story building of the Commercial National Bank at the corner of Main Street and Franklin Avenue was transferred to the new institution for a consideration of $425,000. The property of the South Texas National Bank, fronting on Main Street between Congress and Franklin Avenues, was transferred for a consideration of $314,000.

Official Bank Title(s)

1: The Commercial National Bank of Houston, TX

Bank Note Types Issued

1882 Brown Back $100 bank note with pen signatures of George L. Price, Assistant Cashier and W.B. Chew, President.
1882 Brown Back $100 bank note with pen signatures of George L. Price, Assistant Cashier and W.B. Chew, President. Courtesy of Heritage Auctions, www.ha.com
1902 Date Back $5 bank note with pen signatures of P.J. Evershade, Assistant Cashier and W.B. Chew, President.
1902 Date Back $5 bank note with pen signatures of P.J. Evershade, Assistant Cashier and W.B. Chew, President. Courtesy of Heritage Auctions, www.ha.com

A total of $1,875,850 in National Bank Notes was issued by this bank between 1886 and 1912. This consisted of a total of 168,584 notes (168,584 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 4x5 1 - 4395
1882 Brown Back 50-100 1 - 4170
1902 Red Seal 4x5 1 - 7500
1902 Red Seal 3x10-20 1 - 2800
1902 Date Back 4x5 1 - 13195
1902 Date Back 3x10-20 1 - 12171

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1886 - 1912):

Presidents:

Cashiers:

Other Bank Note Signers

  • George L. Price, Assistant Cashier 1895...1905
  • Paul J. Evershade, Assistant Cashier 1908...1912
  • There are currently no known Vice President bank note signers for this bank.

Wiki Links

Sources

  • Houston, TX, 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 Bankers' Magazine, Vol. 81, July 1910-Dec. 1910, p. 857-858.
  • The Galveston Daily News, Galveston, TX, Wed., June 30, 1886.
  • The Galveston Daily News, Galveston, TX, Wed., Jan. 19, 1887.
  • The Galveston Daily News, Galveston, TX, Wed., Jan. 9, 1895.
  • The Houston Post, Houston, TX, Wed., Jan. 11, 1905.
  • The Galveston Daily News, Galveston, TX, Wed., Jan. 11, 1911.
  • The Houston Post, Houston, TX, Wed., Jan. 10, 1912.
  • The Galveston Daily News, Galveston, TX, Sun., Jan. 21, 1912.
  • The Houston Post, Houston, TX, Sun., Mar. 3, 1912.
  • The Houston Post, Houston, TX, Mon., Mar. 4, 1912.
Retrieved from "https://banknotehistory.mywikis.wiki/w/index.php?title=Commercial_National_Bank,_Houston,_TX_(Charter_3517)&oldid=35925"