First National Bank, Jeannette, PA (Charter 4092)
First National Bank, Jeannette, PA (Chartered 1889 - Liquidated 1931)
Town History
Jeannette is a city in Westmoreland County, Pennsylvania, United States. Jeannette was founded in 1888. The city got its name from one of the original city fathers, H. Sellers McKee, who wished to honor his wife by giving the new town her first name: Jeannette. The city celebrated its 125th anniversary in July 2013. The population was 8,780 according to the 2020 census. In 1890, the population was 3,296, growing to 15,126 by 1930.
First incorporated as a borough on June 7, 1889, Jeannette earned the nickname as "the glass city" in recognition of the numerous glass plants founded in the area, with those factories contributing to the city's original stature as the first large manufacturing town in Westmoreland County. In fact, the impact of the glass industry was so significant that the city's name actually comes from Jeannette E. Hartupee McKee, the wife of H. Sellers McKee, a local industrialist who cofounded the Chambers and McKee Glass Works and was a member of the elite South Fork Fishing and Hunting Club of Johnstown Flood fame. Mckee and his partner J.A. Chambers also have the distinction of naming Jeannette's main street, Clay Avenue after their financial backer, Richard W. Clay. On January 1, 1938, Jeannette became a third class city with Attorney John M. O'Connell as the first mayor.
At times, there were as many as 7 significant factories operating in the city of Jeannette including some of the most well known in the history of the glass industry. Names like Jeannette Glass; Fort Pitt Glass; the Pittsburgh Lamp, Brass and Glass Company; American-Saint Gobain, Westmoreland Glass; and others all supplied the country with everything from plate glass windows, to bottles, to milk glass, and much more for many decades. Some estimates over the years indicate that Jeannette once produced somewhere between 70 and 85% of the world's glass. Unfortunately, Jeannette's glass industry was one of the early United States industry victims of cheap, foreign competition that made it less expensive to produce glass overseas and today only two glass factories remain in the city.
Jeannette had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes.
Bank History
- Organized June 28, 1889
- Chartered August 13, 1889
- Absorbed 7792 August 1, 1927 (Peoples National Bank, Jeannette, PA)
- Liquidated February 11, 1931
- Absorbed by The Jeannette Savings and Trust Company
On August 13, 1889, the comptroller of the currency authorized The First National Bank of Jeannette to begin business with capital $50,000; H. Sellers McKee, president; and Charles R. Smith, cashier.[1]
In January 1890, H. Sellers McKee was elected president, James A. Chambers, vice president, Chas. R. Smith, cashier; D.G. Brickell, Thos. M. McKee, George E. Moore, and John Barclay, directors.[2]
In January 1897, the following officers were elected: Dr. J.H. Ringer, president; Thomas McKee, vice president; Rev. J.N. Baumall, R.T. Hugus, John F. Mull, George Knappenberger, Elmer E. Black, Frank Trimble, C.E. Berlin, R.K. Hissam, and Albert Lauffer, directors; and John W. Keltz, cashier.[3]
At the end of 1926, The First National Bank had resources of $1,459,729; the Peoples National Bank had resources of $1,604,047; and the Glass City Bank had resources of $3,095,954. John W. Keitz was president of the First National Bank and also president of the Jeannette chamber of commerce, and treasurer of the Jeannette Savings & Trust Co. which occupied a building across the street from the Jeannette bank. Other officers of the Jeannette bank were Richard T. Hugus, vice president; H.S. Patterson, cashier; and H. Albert Lauffer, Hugus, G.W. Knappenberger, Morris Kelley, Frank Trimble, J.W. Ambler, J.H. Ringer, and Mr. Keltz, directors. The old bank building would be razed to make way for a new structure. The plan was to start the new building after July 1st and completion was expected within a year.[4]
In May 1927, reorganization of the Peoples National Bank resulted in the election of John W. Keltz, president of the First National Bank of Jeannette and treasurer of the Jeannette Savings & Trust Company, as chairman of the board of the Peoples National. Mr. Keltz filled the vacancy caused by the death of A.T. Smith, the cashier. Thomas L. Ashcom, vice president and trust officer of the Jeannette Savings & Trust Company, also became a director of the Peoples National Bank, succeeding George Weitz, vice president and director, who resigned.[5]
On June 23, 1927, announcement was made of the purchase of the assets of the Peoples National Bank by the First National Bank of Jeannette. Following the death of A.T. Smith, cashier of the Peoples National Bank since it was organized 20 years ago, John W. Keltz, president of the First National Bank and Thomas L. Ashcom, vice president and trust officer of the Jeannette Savings & Trust Company were placed on the board of directors of the Peoples National Bank. The Peoples began operating as a branch of the First National with no change in personnel.[6]
In September 1927, directors decided to erect a new bank building at the corner of Fourth Street and Clay Avenue, costing about $250,000.[7]
On May 30, 1930, John W. Keltz, president of the First National Bank of Jeannette, dropped dead while playing golf on the Jeannette-Greensburg Country Club links at 1:30 in the afternoon. He was playing with his wife and died at the fifteenth hole. He was 60 and had been connected with the First National Bank for almost 40 years, first as teller, then cashier for many years and president at the time of his death. He was survived by his widow, Mrs. Irma Dickey Keltz.[8]
On February 3, 1931, stockholders of the First National Bank and the Jeannette Savings and Trust Company approved plans for the merger of the two institutions. The consolidated bank would be known as the First Bank and Trust Company. The par value of the trust company shares would be reduced from $100 to $25 and each stockholder would receive four shares of new stock for one of the old. The new bank would occupy the rooms of the First National Bank. No change in personnel of either institution would be made.[9]
On August 28, 1959, Articles of Merger between First Jeannette Bank and Trust Company and Peoples First National Bank and Trust Company, Pittsburgh, were filed with the Department of State in Harrisburg. Peoples First National Bank and Trust Company had its headquarters at Fifth Avenue and Wood Street, Pittsburgh.[10]
Official Bank Title(s)
1: The First National Bank of Jeannette, PA
Bank Note Types Issued
A total of $903,980 in National Bank Notes was issued by this bank between 1889 and 1931. This consisted of a total of 75,472 notes (69,550 large size and 5,922 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 - 4075 1882 Brown Back 50-100 1 - 687 1902 Date Back 3x10-20 1 - 3840 1902 Plain Back 3x10-20 3841 - 12969 1929 Type 1 6x10 1 - 791 1929 Type 1 6x20 1 - 196
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1889 - 1931):
Presidents:
- H. Sellers McKee, 1889-1895
- Dr. Joseph Hiram Ringer, 1896-1902
- Henry Albert Lauffer, 1903-1919
- John W. Keltz, 1920-1929
- Robert Edward Best, 1930-1931
Cashiers:
Other Known Bank Note Signers
Bank Note History Links
Sources
- Jeannette, 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
- ↑ Pittsburgh Dispatch, Pittsburgh, PA, Fri., Sep. 27, 1889.
- ↑ The Pittsburgh Press, Pittsburgh, PA, Sat., Jan. 25, 1890.
- ↑ The Pittsburgh Press, Pittsburgh, PA, Sun., Jan. 17, 1897.
- ↑ The Pittsburgh Press, Pittsburgh, PA, Tue., Mar. 29, 1927.
- ↑ The Ligonier Echo, Ligonier, PA, Wed., May 18, 1927.
- ↑ The Pittsburgh Press, Pittsburgh, PA, Fri., June 24, 1927.
- ↑ The Indiana Weekly Messenger, Indiana, PA, Thu., Sep. 1, 1927.
- ↑ The Pittsburgh Post-Gazette, Pittsburgh, PA, Sat., May 31, 1930.
- ↑ The Daily Republican, Monongahela, PA, Wed., Feb. 4, 1931.
- ↑ Pittsburgh Post-Gazette, Pittsburgh, PA, Sat., Sep. 12, 1959.