County National Bank, Punxsutawney, PA (Charter 9863)

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Postcard of the County National Bank of Punxsutawney, Pennsylvania, ca1910s.

County National Bank, Punxsutawney, PA (Chartered 1910 - Open past 1935)

Town History

A 1936 advertisement for the County National Bank of Punxsutawney.

Punxsutawney is located in Jefferson County.

Punxsutawney had four National Banks chartered during the Bank Note Era, First National Bank of Punxsutawney, (Charter 3030), Punxsutawney National Bank (Charter 5702), Farmers National Bank of Punxsutawney (Charter 5965), and County National Bank of Punxsutawney (Charter 9863), and all four of those banks issued National Bank Notes.

Bank History

In June 1910, application was made for a charter for the County National Bank of Punxsutawney, with capital stock of $100,000. The applicants were Ward Brown, J.R. Pantall, O.P. Grube, E.W. Smith and J.E. Pantall. The Zeitler Block, formerly occupied by the First National Bank of Punxsutawney, was purchased by the new institution and the structure would be remodeled to suit the new bank's needs. Reynoldsville with but half Punxsutawney's population supported three banks. Brookville supported a like number, so the success of the bank was thought to be practically assured.[1]

On December 21, 1913, John R. Pantall, 75, pioneer lumberman and banker died at his home in Punxsutawney. He was one of the organizers of the First National Bank of Punxsutawney and at the time of its consolidation with the Punxsutawney National Bank was made vice president. In 1910, with his son, J. Ervin Pantall, he organized the County National Bank of Punxsutawney. In 1864 he enlisted in Co. B, 74th Pennsylvania Volunteer Infantry, and served until the end of the war.[2]

In January 1914, County Commissioner Harry L. Grube was chosen vice president succeeding John R. Pantall, deceased.[3] P.L. Brown and H.D. Widdowson were chosen as directors succeeded Mr. Pantall and M.H. Morris who retired.[4]

On Tuesday, January 9, 1923, stockholders re-elected the former board of directors and C.J. Margiotti was chosen to succeed the late Ward F. Brown. The directors were P.L. Brown, H. Meade McGee, Dr. W.S. Blaisdell, D.W. Grube, O.C. Hoffman, J.N. Kelly, L.M. Lewis, E.A. Murray, L.A. Shaffer, J.D. Williams, and C.J. Margiotti.[5]

On February 1, 1937, the Punxsutawney National Bank purchased the assets, except real estate, of the County National Bank of Punxsutawney. This left Punxsutawney with just two banks, the Punxsutawney National and the Farmers and Miners Trust Company. The addition would give the Punxsutawney National over $3,400,000 in deposits.[6] P.L. Brown was president of the County National Bank.[7] Also in 1937 the assets of the Community Loan Company operated by Punxsutawney Board of Trade were purchased, thus Punxsutawney National was one of the first banks in the district to enter the installment loan field.[8] On Friday, March 19, 1937, eight directors were added to the board of the Punxsutawney National, bringing the membership to 17 with the addition of eight directors, seven of which were formerly directors of the County National. The newly elected directors were P.L. Brown, Paul W. Wehrle, A.L. Light, J. Boyd Hunger, Ned L. Brown, O.C. Hoffman, Robert Hamil, former County National board members, and P.L. Smith.[9]

Official Bank Title

1: The County National Bank of Punxsutawney, PA

Bank Note Types Issued

1902 Plain Back $10 bank note with stamped signatures of W.R. Chilcott, Cashier and P. L. Brown, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $20 bank note with printed signatures of W.R. Chilcott, Cashier and P. Lot Brown, President. The Government Printing Office (GPO) prepared the overprinting plate used to produce this note. Courtesy of Lyn Knight Auctions, www.lynknigt.com
1929 Type 1 $10 bank note with printed signatures of W.R. Chilcott, Cashier and P. Lot Brown, President. Barnhart Brothers and Spindler (BBS) prepared the overprinting plate used to produce this note. Courtesy of Heritage Auctions, www.ha.com

A total of $1,578,880 in National Bank Notes was issued by this bank between 1910 and 1935. This consisted of a total of 127,209 notes (100,528 large size and 26,681 small size notes).

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

Series/Type Sheet/Denoms Serial#s Sheet Comments
1902 Date Back 3x10-20 1 - 6700
1902 Plain Back 3x10-20 6701 - 25132
1929 Type 1 6x10 1 - 2880
1929 Type 1 6x20 1 - 762
1929 Type 2 10 1 - 3854
1929 Type 2 20 1 - 975

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1910 - 1935):

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

  • Punxsutawney, PA, 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 Punxsutawney Spirit, Punxsutawney, PA, Tue., June 21, 1910.
  2. ↑ The Indiana Weekly Messenger, Indiana, PA, Wed., Dec. 24, 1913.
  3. ↑ Brookville Republican, Brookville, PA, Thu., Jan. 22, 1914.
  4. ↑ The Punxsutawney Spirit, Punxsutawney, PA, Fri., Jan. 16, 1914.
  5. ↑ The Punxsutawney Spirit, Punxsutawney, PA, Wed., Jan. 10, 1923.
  6. ↑ Bradford Evening Star and The Bradford Daily Record, Bradford, PA, Sat., Jan. 30, 1937.
  7. ↑ The Punxsutawney Spirit, Punxsutawney, PA, Sat., Feb. 27, 1937.
  8. ↑ The Indiana Gazette, Indiana, PA, Sat., Oct. 6, 1973.
  9. ↑ The Punxsutawney Spirit, Punxsutawney, PA, Sat., Mar. 20, 1937.
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