First National Bank, Clarion, PA (Charter 774)

Needed: a contemporary postcard or photo of the bank.

First National Bank, Clarion, PA (Chartered 1865 - Receivership 1934)

Town History

Clarion is a borough in and the county seat of Clarion County, Pennsylvania. It is located 77 miles north-northeast of Pittsburgh. The main part of the borough sits at an elevation of 1,400 to 1,500 feet above sea level, overlooking the 400-foot-deep valley of the Clarion River, a tributary of the Allegheny River. U.S. Route 322 passes through the borough as Main Street, leading northwest 28 miles to Franklin and southeast 16 miles to Brookville. Pennsylvania Route 68 (Fifth Avenue) leads south from the center of Clarion, 2 miles to Exit 62 of Interstate 80 and 11 miles to Sligo.

Clarion was settled in 1839 and incorporated in 1841. In the past, the surrounding area produced natural gas, oil, lumber and coal. The population was 2,004 in 1900, 2,864 in 1910, and 3,931 at the 2020 census, down from 5,276 at the 2010 census. It is home to the annual Autumn Leaf Festival and Clarion University of Pennsylvania.

Clarion had three National Banks chartered during the Bank Note Era, and two of those banks issued National Bank Notes.

Bank History

Organized January 23, 1865
Chartered February 1, 1865
Conservatorship March 20, 1933
Receivership April 16, 1934

Notation on Organization Report:
Org date January 2, 1865 in organization division copy, correct to 23 in more complete set

On Tuesday, January 14, 1868, the stockholders elected the following directors for the current year: Samuel Wilson, G.W. Arnold, Jacob Black, C. Kaufman, W.W. Barr, J.R. Strattan, and Samuel Frampton. Samuel Wilson was elected president and G.W. Arnold, cashier.

In January 1885, the officers were Jacob Black, president; G.W. Arnold, cashier; Frank M. Arnold, assistant cashier; Jacob Black, Jr. teller.

In January 1896, the following directors were elected: G.W. Arnold, C. Leeper, S. Win. Wilson, Ed. M. Wilson, and John Greibel. The following officers were appointed: G.W. Arnold, president; C. Leeper, vice president; F.M. Arnold, cashier; Jno. I. Dunlap, assistant cashier; Arnold M. Alexander, teller, and W.A. Graham, bookkeeper. Charles Leeper succeeded G.W. Arnold upon the death of the latter on April 10, 1896, in his 75th year.

On September 10, 1897, Charles Leeper, was burned to death in the train wreck at New Castle, Colorado. He was a prominent businessman of Clarion County and one of the leading lumbermen of that section, and was well known in Pittsburg and Allegheny, where he had business interests. Though 63 years old, he was still actively engaged in business, and gave the details of his extensive interests his personal supervision. Realizing the great need for lumber in the new Klondike fields, he was on his way West to arrange for getting a portable mill or finished product into the land of gold and ice. Incidentally he also intended to inspect his holdings of timber land and a big sawmill that he had working in the State of Washington. With him in this enterprise was the late G.S. Lacey of Allegheny, and R.W. Shotts, of Leeper, Clarion County. The name of the latter appeared in the list of slightly injured, he having accompanied Mr. Leeper on his Western trip. Charles Leeper was one of the kind of men that have made America a great nation. When but a small child he was left an orphan. His home was somewhere in the Eastern part of the State. At the age of 11 he started out to make his fortune. He did not have a penny to start with. Over the mountains he tramped every foot of the way, and finally settled in Clarion County where he obtained work, and began to lay the foundation of his fortune, which amounted to about half a million. He was largely instrumental in developing the lumber interests of Clarion County, and founded the town which bears his name. His lumber interests were the largest In Clarion County. He was the silent partner in the firm of William Schuette & Co., South Twenty-first street, Pittsburgh, and Saginaw, Michigan, where the firm had large lumber mills. He had been president of the First National Bank of Clarion, was a director in the Clarion Water Company and Clarion normal school, and president of the Clarion and Tylersburg Gas Company. He was interested with W.H.H. Piper of Kittanning in the oil business. In addition to this he had large holdings of oil territory in the Pennsylvania and Ohio fields. He was also interested with Porter, Haskell and Cooke, heirs in the lumber business at Portland, Oregon. Mr. Leeper left Pittsburgh Union Station Monday evening on his Western trip, he was accompanied to the station by A.C. McComb, a personal friend. Just before leaving the latter remarked to him in a half jocular way that he had better take out an accident policy. He replied that he had traveled all over the country and had never been in an accident, and besides he carried $20,000 life Insurance. Mr. Leeper is survived by a wife and two sons. The elder son, Clarence, was located at Toledo, Ohio, and had charge of his oil interests in Ohio. The younger son, Harry, was located at Saginaw and was in charge of his father's lumber interest. Mrs. Leeper, who was attending the Erie Methodist Episcopal conference then in session in Oil City received a telegram stating that Her husband had been killed.

In January 1915, the directors were S. Win. Wilson, M.M. Kaufman, Frank K. Brown, William Keatley, C.F. Strattan, H.E. Rugh, and Lewis Collner. The officers were S. Win. Wilson, president; M.M. Kaufman, vice president; A.B. Collner, cashier; F.M. Arnold, Jr. and H.F. Strattan, assistant cashiers.

In January 1935, the following were elected directors: Harry R. Wilson, Perry Wile, Lewis Collner, Herbert Lander, W.M. Moore. The officers were Harry R. Wilson, president; Perry Wile, vice president; Lewis Collner, vice president; and W.M. Moore, cashier.

In January 1963, the directors were Perry Wile, H.R. Lander, B.M. Davis, M.H. Davis, William H. Flanagan, J.M. Smathers, and Dr. W.A. Keiner. The officers were Perry Wile, president; H.R. Lander, vice president; J.M. Smathers, executive vice president; S.C. George, cashier; and Marie Biroco, Milton A. Boyd, and John A. Garbarino, assistant cashiers.

On June 18, 1963, the boards of three banks, the Northwest Pennsylvania Bank and Trust Company, the First National Bank of Mercer and the First National Bank of Clarion, approved a joint merger agreement. The banks would merge under the charter of and title of the Northwest Pennsylvania Bank and Trust Co., with its principle office at 100 Seneca Street, Oil City. Annoucement was made through a joint statement by L. Merle Campbell, chairman of the board of the Northwest Bank; L.O. Hotchkiss, president of the Mercer bank; and Perry Wile, president of the Clarion bank. After the merger, the institution would have depoists of approximately $78,000,000, loans of approximately $45,000,000, capital of $1,753,800, surplus and undivided profits of 5,134,607. The Northwest had trust funds of over $67,000,000 and was one of the largest trust departments in northwest Pennsylvania. Under the terms of the joint merger agreement the shareholders of the First National Bank of Mercer would receive share for share of Northwest Bank stock for their shares of the First National Bank of Mercer. Shareholders of the First National Bank of Clarion would received 7,800 shares of $20 par stock for their 1,300 shares of $50 par stock. The Northest shareholders would receive 1.2 shares of stock for each share of their present stock. Upon completion of the merger, Northwest would have 12 offices. In addition to the principle office at 100 Seneca Street, Oil City, there was the South Side Oil City, Knox, Clintonville, Emlenton, East Brady, Meadville at Chestnut and Market Streets, Park Avenue Plaza in Meadville, Mercer at North Diamond and Erie Streets, Mercer at West Butler Street (a drive-in office), Fredonia and Clarion.

Official Bank Title(s)

1: The First National Bank of Clarion, PA

Bank Note Types Issued

Series of 1875 $1 bank note with pen signatures of G.W. Arnold, Cashier and Samuel Wilson, President. Courtesy of Heritage Auctions, www.ha.com

1882 Brown Back $100 bank note with pen signatures of F.M. Arnold, Cashier and S. Win Wilson, President. Courtesy of Heritage Auctions, www.ha.com

1902 Plain Back $20 bank note with pen signatures of Arthur B. Collner, Cashier and S. Win Wilson, President. Courtesy of Adam Stroup

1929 Type 1 $20 bank note with printed signatures of W.M. Moore, Cashier and M.M. Kaufman, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

A total of $2,295,420 in National Bank Notes was issued by this bank between 1865 and 1934. This consisted of a total of 179,892 notes (159,552 large size and 20,340 small size notes).

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

Series/Type	Sheet/Denoms	Serial#s	Sheet Comments
Original Series	3x1-2	1 - 1800
Original Series	4x5	1 - 3000
Original Series	3x10-20	1 - 2120
Series 1875	3x1-2	1 - 220
Series 1875	4x5	1 - 1430
Series 1875	3x10-20	1 - 1650
1882 Brown Back	4x5	1 - 1700
1882 Brown Back	3x10-20	1 - 2160
1882 Brown Back	50-100	1 - 2112
1902 Red Seal	3x10-20	1 - 3000
1902 Red Seal	50-100	1 - 300
1902 Date Back	3x10-20	1 - 6700
1902 Date Back	50-100	1 - 200
1902 Plain Back	3x10-20	6701 - 21502
1929 Type 1	6x10	1 - 2428
1929 Type 1	6x20	1 - 732
1929 Type 2	10	1 - 1180
1929 Type 2	20	1 - 200

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1934):

Presidents:

Cashiers:

Other Bank Note Signers

There are currently no known Vice President or Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

Clarion, 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
The Pittsburgh Daily Commercial, Pittsburgh, PA, Mon., Jan. 20, 1868.
The Clarion Democrat, Clarion, PA, Thu., Jan. 22, 1885.
The Clarion Democrat, Clarion, PA, Thu., Jan. 16, 1896.
Pittsburgh Daily Post, Pittsburgh, PA, Sat., Sep. 11, 1897.
The Clarion Democrat, Clarion, PA, Thu., Jan. 14, 1915.
The Clarion Democrat, Clarion, PA, Thu., Jan. 10, 1935.
The Oil city Derrick, Oil City, PA, Wed., Jan. 9, 1963.
The News-Herald, Franklin, PA, Wed., June 19, 1963.