Deposit National Bank, Du Bois, PA (Charter 5019)

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The old Deposit National Bank of DuBois, Pennsylvania on the corner of Long Avenue and Brady Street, ca2021.
The old Deposit National Bank of DuBois, Pennsylvania on the corner of Long Avenue and Brady Street, ca2021. Courtesy of Google Maps

Deposit National Bank, Du Bois, PA (Chartered 1895 - Open past 1935)

Town History

Advertisement from 1903 for the Deposit National Bank of DuBois, Pennsylvania with highlights from is Condition of the Bank report. Officers were R.H. Moore, president; D.L. Corbett, vice president; and M.I. McCreight, cashier. Directors were R.H. Moore, D.L. Corbett, E.F. Hand, J.W. Pentz, Austin Blakeslee, John E. DuBois, Walter Hatton, J. Henry Beadle, and M.I. McCreight.
Advertisement from 1903 for the Deposit National Bank of DuBois, Pennsylvania with highlights from is Condition of the Bank report. Officers were R.H. Moore, president; D.L. Corbett, vice president; and M.I. McCreight, cashier.

DuBois (/ˈduːbɔɪz/ DOO-boyss) is a city and the most populous community in Clearfield County, Pennsylvania. DuBois is located about 100 miles northeast of Pittsburgh. The population was 7,794 at the 2010 census. DuBois along with State College make up the larger State College-DuBois, PA Combined Statistical Area.

Settled in 1812 and platted in 1872, DuBois was incorporated as a borough in 1881 and as a city in 1914. The town was founded by John Rumbarger, for whom the town was originally named. The Rumbarger Cemetery is all that survives of John Rumbarger's "original settlement" in the city of DuBois. The town was later renamed for local lumber magnate John DuBois, who came from a longstanding American family of French Huguenot descent. Many of the town's original buildings and homes were funded and or donated by Mr. DuBois's lumber mill. In 1938, his nephew, John E. DuBois, donated the family mansion and estate as a permanent home for the DuBois Campus of Penn State University. While DuBois was founded as a lumber town, the mining of bituminous coal quickly became the chief industry in DuBois.

Du Bois had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes.

Bank History

  • Organized September 21, 1895
  • Chartered September 30, 1895
  • Bank was Open past 1935
  • For Bank History after 1935 see FDIC Bank History website
  • Changed Name to First Commonwealth Bank November 13, 1995
  • Main Office moved to Indiana, PA November 13, 1995
  • Still in business as First Commonwealth Bank (April 2022)

DuBois Depot, PA. June 18, 1888, fire brook out at 1 o'clock in the Baker House on railroad Avenue in the center of town and owing to the high wind, it could not be contained. Fire destroyed an area a mile long by almost half a mile wide, extending from the Rochester collieries store to the Terpe House and to the extreme end of Long Street on the east side of town. Over 3,000 people were homeless and destitute. Only two stores were left--the property of John E. DuBois and Bell, Lewis & Yates. Out of 17 hotels, three remained. Loss to the First National Bank was estimated at $3,500 if the vault withstood the fire. The Dubois Deposit Bank's losses also depended on the condition of the safe.

On September 30, 1895, The Deposit National Bank of DuBois, Pennsylvania was authorized to begin business.

In January 1907, directors were R.H. Moore, D.L. Corbett, Austin Blakeslee, Rembrandt Peale, W.H. Cannon, E.F. Hand, J.H. Pentz, J. Henry Beadle, Walter Hatten, C.P. Munch, and M.I. McCreight. The officers elected were R.H. Moore, president; M.I. McCreight and D.L. Corbett, vice presidents; B.B. McCreight, cashier and C.A. Keener, assistant cashier.

    M.I. McCreight, Conservationist.  In January 1911, there was a movement afoot for the purchase by the state forestry commission of the Cook estate, consisting of about ten thousand acres of virgin forest, extending for about eight or ten miles along the Clarion River in Forest county. The idea was to use it for a state park and game preserve. The conditions there were perfect for the purpose, the topography of the land being ideal for sight-seeing and recreation. This virgin forest was the last of its kind in the east, and would be a perpetual delight to those who have never seen a tract of Pennsylvania timber in its original state. Hence its value as a means of education to coming generations would be great. As a health resort this large tract of beautiful woodland could not be duplicated anywhere, and as a protection to the Allegheny watershed it would be cheap at any price. The losses from floods in Pittsburgh had reached the sum of ten million dollars in a single year, which might be largely increased if this large acreage were denuded. The suggestion to convert this beautiful bit of nature into a state park and game preserve as a health resort and public playground for future generations was first advanced by M.I. McCreight, of DuBois, one of the original conservationists and recent candidate for Congress. Governor Stuart, was impressed with the plausibility of the idea and sent Hon. S.B. Elliott, of the Pennsylvania forestry commission, to examine and report on its feasibility. The owners were willing to part with this beautiful piece of land at a fair price, being in sympathy with the movement to protect it from the woodman's ax and preserve it as a sort of wonderland for succeeding generations. This was the beginning of the Cook Forest State Park, one of "25 Must-See Pennsylvania State Parks."

On March 20, 1920, D.L Corbett lost his building where the Broadbent-Martin store was located when flames destroyed an entire block in DuBois. Corbett estimated his loss at $50,000. The fire started in the rear of Klewan's store Saturday night and an inefficient fire alarm system was blamed for sufficient delay to allow the fire to gain headway, resulting in losses approaching $1,000,000. The Bell Telephone Co. was the biggest loser with $500,000 in equipment losses.

On October 13, 1931, The First National Bank in Brockway (Charter 13566) was taken over by the Deposit National Bank of DuBois, the transaction involving transfer of approximately a million dollars. Assistance in completing the negotiations was given by other DuBois, Brockway and Brookville banks. The clerical force of the Brockway bank were to come to DuBois where business of both banks would be handled.

Shareholders of the National Bank of Brookville met on September 30, 1954, to vote on the proposed sale of the bank to the DuBois Deposit National Bank. Under the proposed agreement, the DuBois Deposit National Bank would maintain an office on the present premises of the Brookville bank, retaining all employees. L.V. Deemer, cashier, who had been associated with the Brookville bank for over 50 years, announced that he would retire upon completion of the transaction. The shareholders voted favorably and the DuBois bank took over the entire business on October 9, 1954.

Official Bank Title(s)

1: The Deposit National Bank of Du Bois, PA

Bank Note Types Issued

1882 Brown Back $5 bank note with pen signatures of M.I. McCreight, Cashier and R.H. Moore, President.
1882 Brown Back $5 bank note with pen signatures of M.I. McCreight, Cashier and R.H. Moore, President. Courtesy of Heritage Auctions, www.ha.com
1902 Plain Back $10 bank note with printed signatures of J.Q. Groves, Cashier and M.I. McCreight, President.
1902 Plain Back $10 bank note with printed signatures of J.Q. Groves, Cashier and M.I. McCreight, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 2 $10 bank note with printed signatures of F.L. Newmeyer, Cashier and J.Q. Groves, President.
1929 Type 2 $10 bank note with printed signatures of F.L. Newmeyer, Cashier and J.Q. Groves, President. Courtesy of Heritage Auctions, www.ha.com

A total of $3,505,530 in National Bank Notes was issued by this bank between 1895 and 1935. This consisted of a total of 322,509 notes (267,672 large size and 54,837 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 - 7800
1882 Brown Back 3x10-20 1 - 6920
1882 Date Back 4x5 1 - 9358
1882 Date Back 3x10-20 1 - 5740
1902 Plain Back 3x10-20 1 - 37100
1929 Type 1 6x10 1 - 5962
1929 Type 1 6x20 1 - 1750
1929 Type 2 10 1 - 6465
1929 Type 2 20 1 - 2100

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1895 - 1936):

Presidents:

Cashiers:

Other Bank Note Signers

Wiki Links

Sources

  • Du Bois, PA, Wikipedia, https://en.wikipedia.org/wiki/Du_Bois,_Pennsylvania
  • 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
  • Pittsburgh Daily Post, Pittsburgh, PA, Tue. June 19, 1888.
  • Wilkes-Barre Semi-Weekly, Wilkes-Barre, PA, Fri., Oct. 4, 1895.
  • The Brockway Record, Brockway, PA, Fri., Feb. 27, 1903.
  • The Brockway Record, Brockway, PA, Fri., Jan. 11, 1907.
  • The Jeffersonian-Democrat, Brookville, PA, Thu., Jan. 26, 1911.
  • The Brookville American, Brookville, PA, Thu., Mar. 25, 1920.
  • The Pittsburgh Press, Pittsburgh, PA, Tue., Oct. 13, 1931.
  • Shamokin Daily News, Shamokin, PA, Tue., Oct. 13, 1931.
  • The Jeffersonian-Democrat, Brookville, PA, Thu., Aug. 26, 1954.
  • The Brookville American, Brookville, PA, Thu., Oct. 14, 1954.