First National Bank, Dayton, PA (Charter 5742)

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Dayton Branch of the Marion Center Bank, ca2023. Courtesy of Google Maps

First National Bank, Dayton, PA (Chartered 1901 - Open past 1935)

Town History

Needed: a contemporary postcard or photo of the bank.

Dayton is a borough in Armstrong County, Pennsylvania, United States. The Thomas Hindman Marshall House was listed on the National Register of Historic Places in 1976, and is home to the Dayton Area Local History Society. The population was 549 at the 2020 census. In 1900 the population was 431, peaking at 1,049 in 1920.

Dayton had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.

Bank History

In October 1900, the comptroller of the currency approved the application for a charter for the First National Bank of Dayton, Pennsylvania, capital $25,000. William Gallagher, A.J. Gourley, S.W. Marshall, Thomas H. Marshall, C.W. Ellenberger, C.R. Marshall, D.D. Marshall, R.C. Winslow, William F. Beyer, and Jacob L. Fisher, were the applicants.[1] In November, the bank organized by electing as directors C.W. Ellenberger, D.A. Richey, S.W. Marshall, Dr. T.E. Williams, Dr. W.F. Beyer, and Hon. R.C. Winslow. The officers chosen were C.W. Ellenberger, president; D.A. Richey, vice president; C.R. Marshall, secretary; and A.J. Gourley, cashier.[2]

In March 1901, a contract for a new building for the First National Bank was let to W.W. Hopkins of Georgeville. The building would be two-stories, built of brick and located at the corner of State and Main Streets. On the first floor would be the banking room, directors' room, and a large store room. On the second floor would be six offices. The contract price was $3,993.[3]

On Friday, November 28, 1902, a bold attempt to rob the First National Bank of Dayton, Armstrong County, was frustrated at 2 o'clock in the morning by the bravery of Reid Marshall, one of the directors of the bank. The building was a new structure on the main street of the town, almost directly across from Mr. Marshall’s home. About 2 o'clock Mrs. Marshall was awakened by a noise in the street and quickly told her husband. Mr. Marshall ran to the front window of his bedroom and looking across the street saw three men at work on the bank's safe. The light in the building was burning brightly and there was no difficulty in seeing what was going on. Mr. Marshall, a general merchant of the town and varied duties including an occasional hunting expedition, had made him a crack shot. Incidentally, a friend of his said he would rather at any time shoot burglar than a squirrel. Picking up his double-barreled shotgun, after dressing himself, he left his house and walked across the street, the robbers not knowing of his coming, nobody being on guard. Walking up to the window of the bank he fired five charges at the robbers before they had a chance to return the fire. Rushing back to his house, Mr. Marshal sought more cartridges to finish up the gang, but found his supply was exhausted. By this time neighbors who heard the shooting arrived at the bank, but the three men were gone, leaving blood stains on the floor, showing that the shots took effect. An attempt was made to trail them, but without success. The front of the bank looked as if the building had borne the brunt of a fusillade, but Mr. Marshall thought that it would cost less for a new pane of plate glass than it would to replenish the bank's cash supply and install a new safe.[4]

On Tuesday, January 17, 1905, stockholders elected directors as follows: C.W. Ellenberger, D.A. Ritchey, C.R. Marshall, W.W. Marshall, Dr. W.F. Beyer, Dr. T.R. Williams, Hon. R.C. Winslow. The officers elected were C.W. Ellenberger, president; D.A. Ritchey, vice president; A.J. Gourley, cashier. The directors added $2,000 to the surplus and declared a dividend of 5 per cent.[5]

In January 1922, stockholders elected directors as follows: C.W. Ellenberger, S.W. Marshall, A.J. Gourley, Geo. W. Beck, B.P. Marshall, E.H. Winslow, and C.C. Marshall. The officers elected were C.W. Ellenberger, president; A.J. Gourley, vice president; C.C. Marshall, cashier; Hazel McSparrin, assistant cashier; and Roseva Loring, Clerk. In the evening, pictures of the Duplex Electric Alarm recently installed in the bank were shown at the Dayton Theatre to a large audience.[6]

On Tuesday, January 15, 1929, the stockholders elected the following directors: C.W. Ellenberger, A.J. Gourley, Geo. W. Beck, R.B. Martin, Geo. A. Barnard, E.L. Fleming, and F.L. Travis. The officers elected were C.W. Ellenberger, president; A.J. Gourley, vice president; G.L. Douglass, cashier; Alice McSparrin, assistant cashier.[7]

On Tuesday, January 16, 1945, the directors elected for the ensuing year were F.L. Travis, R.L. McClelland, R.B. Martin, and S.C. Henry of Dayton; and George P. Grube, Punxsutawney. Mr. Grube was also the vice president of the Punxsutawney National Bank. The officer elected were F.L. Travis, president; R.L. McClelland, vice president; C.B. Bloom, cashier and secretary; and Miss Alice McSparrin, assistant cashier.[8]

In July 1946, Miss Lorraine McClelland was selected assistant cashier of the Dayton First National Bank, filling the position created by the resignation of Miss Alice McSparrin.[9]

In January 1951, the stockholder elected the following directors: F.L. Travis, R.L. McClelland, R.B. Martin, S.C. McHenry, and George P. Grube. F.L. Travis was re-elected president and Robert L. Rowland of Punxsutawney would serve again as cashier. Also re-elected were R.L. McClelland, vice president and Freda L. Buchanan, assistant cashier. The bank had assets of $675,494.51 at the end of 1950.[10]

On December 31, 1952, the First National Bank of Dayton became a branch of the Punxsutawney National Bank. F.L. Travis, prominent Dayton businessman, was president. Deposits in the Dayton bank were about $725,000.[11] Four men played important roles in negotiations leading to the purchase of the First National Bank of Dayton by the Punxsutawney National Bank: George P. Grube, president, and Eugene P. Curry, cashier of the Punxsutawney National; William Marshall, former cashier of the Dayton bank and new manager of the branch; and F.L. Travis, former president of the Dayton Bank.[12] On Wednesday, January 14, 1953, stockholders ratified the purchase agreement. The Dayton bank came under management of the board of directors and officers of the Punxsutawney National on January 2d.[13] William P. Marshall was named as manager of the Dayton branch of the Punxsutawney National Bank. The assets of the Punxsutawney National, as of December 31, 1952, were $9,534,456.08, an increase of $524,505.70 over the year.[14]

In February 1997, Marion Center National Bank reached an agreement to purchase National City Bank's offices in Dayton and Big run. The acquisition, subject to review by regulators, was expected to be final by June 1st. National City Bank of Pennsylvania was a subsidiary of National City Corporation headquartered in Cleveland, Ohio. Marion Center National Bank was a subsidiary of Community Bankers' Corporation and was the only independent community bank in Indiana County.[15]

Official Bank Title

1: The First National Bank of Dayton, PA

Bank Note Types Issued

1882 Value Back $20 bank note with pen signatures of C.C. Marshall, Cashier and C.W. Ellenberger, President. Courtesy of Heritage Auctions, www.ha.com
1882 Plain Back $10 bank note with Radar SN 858 and pen signatures of C.C. Marshall, Cashier and C.W. Ellenberger, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 1 $20 bank note with printed signatures of George L. Douglas, Cashier and C.W. Ellenberger, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1929 Type 1 $20 bank note with printed signatures of Eugene S. Fry, Cashier and A.J. Gourley, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 2 $10 bank note with printed signatures of C.B. Bloom, Cashier and A.J. Gourley, President. Courtesy of the NBNCensus.com

A total of $450,100 in National Bank Notes was issued by this bank between 1901 and 1935. This consisted of a total of 36,174 notes (29,776 large size and 6,398 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 3x10-20 1 - 1290
1882 Date Back 3x10-20 1 - 2030
1882 Value Back 3x10-20 2031 - 3167
1902 Plain Back 3x10-20 1 - 2987
1929 Type 1 6x10 1 - 740
1929 Type 1 6x20 1 - 200
1929 Type 2 10 1 - 566
1929 Type 2 20 1 - 192

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1901 - 1935):

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

  • Dayton, 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 Philadelphia Inquirer, Philadelphia, PA, Fri., Oct. 19, 1900.
  2. ↑ The Saltsburg Press, Saltsburg, PA, Thu., Nov. 22, 1900.
  3. ↑ Punxsutawney News, Punxsutawney, PA, Wed., Mar. 20, 1901.
  4. ↑ Pittsburgh Weekly Gazette, Pittsburgh, PA, Fri., Nov. 28, 1902.
  5. ↑ The Punxsutawney, Spirt, Punxsutawney, PA, Wed., Jan. 25, 1905.
  6. ↑ The Punxsutawney, Spirt, Punxsutawney, PA, Wed., Jan. 25, 1922.
  7. ↑ Simpson's Leader-Times, Kittanning, PA, Thu., Jan. 24, 1929.
  8. ↑ The Punxsutawney, Spirt, Punxsutawney, PA, Thu., Jan. 18, 1945.
  9. ↑ The Saltsburg Press, Saltsburg, PA, Thu., July 4, 1946.
  10. ↑ The Punxsutawney, Spirt, Punxsutawney, PA, Thu., Jan. 11, 1951.
  11. ↑ The Punxsutawney, Spirt, Punxsutawney, PA, Wed., Dec. 31, 1952.
  12. ↑ The Punxsutawney Spirit, Punxsutawney, PA, Mon., Jan. 5, 1953.
  13. ↑ The Saltsburg Press, Saltsburg, PA, Thu., Jan. 15, 1953.
  14. ↑ The Punxsutawney, Spirt, Punxsutawney, PA, Wed., Jan. 14, 1953.
  15. ↑ Indiana Gazette, Indiana, PA, Sat., Feb. 1, 1997.
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