First National Bank, Springfield, MA (Charter 14)
First National Bank, Springfield, MA (Chartered 1863 - Liquidated 1906)
Town History
Springfield is a city in the Commonwealth of Massachusetts and the seat of Hampden County. Springfield sits on the eastern bank of the Connecticut River near its confluence with three rivers: the western Westfield River, the eastern Chicopee River, and the eastern Mill River. As of the 2020 Census, the city's population was 155,929, making it the third-largest city in Massachusetts, the fourth-most populous city in New England after Boston, Worcester, and Providence, and the 12th-most populous in the Northeastern United States.
Founded in 1636 as the first Springfield in the New World, during the American Revolution, George Washington designated it as the site of the Springfield Armory for its central location, subsequently the site of Shays' Rebellion. The city would also play a pivotal role in the Civil War, as a stop on the Underground Railroad and home of abolitionist John Brown, widely known for his raid on Harpers Ferry, and for the Armory's manufacture of the famed "Springfield rifles" used ubiquitously by Union troops. Closing during the Johnson administration, today the national park site features the largest collection of historic American firearms in the world. Springfield has several nicknames—"The City of Firsts", due to the many innovations developed there, such as the first American dictionary, the first American gas-powered automobile, and the first machining lathe for interchangeable parts; "The City of Homes", due to its Victorian residential architecture; and "Hoop City", as basketball was invented in Springfield in 1891 by James Naismith.
Hartford, the capital of Connecticut, lies 24 miles south of Springfield, on the western bank of the Connecticut River. The city of Springfield is home to Springfield College, Western New England University, American International College, and Springfield Technical Community College, among other higher educational institutions.
The Hampden Savings Bank and the Chapin National Bank building are two of many historic buildings on the National Register of Historic Places for Springfield.
Springfield had 11 National Banks chartered during the Bank Note Era, and 10 of those banks issued National Bank Notes.
Bank History
- Chartered June 24, 1863
- Succeeded by Union Trust Co.
- Liquidated March 5, 1906
- Absorbed by Union Trust Company of Springfield, MA
Mr. James B. Kirkham, president of the First National Bank, one of the best known financiers and business men in western Massachusetts, died Wednesday evening, February 8, 1893. He was born at Newington, Connecticut in 1821 and had resided in Springfield since he was ten years old. In 1863 he helped organized the bank and was elected its president, holding the office until his death. the bank was the first to apply for a charter under the provisions of the new banking act and the fourteenth to receive it. Mr. Kirkham was president of the Agawam Woolen Company, vice president of the Chemical and George C. Gill Paper companies of Holyoke, treasurer of the French Protestant College and a director in the Mutual Fire Assurance Company, Springfield Street Railway Company, Springfield Gas Company and the City Library Association.
On April 6, 1905, John Olmsted, 84, president of the Springfield street railway company died after a long illness following an attack of grippe. In 1860 he formed a partnership in the cotton waste business. When the Springfield street railway was organized in 1875, he secured a small block of stock and gradually increased his holdings until he became its executive. Mr. Olmsted was known among the employees of the railway as "Uncle John." He was a republican and represented his ward in the legislature in 1883. Mr. Olmsted was widely known for his benefactions and had been of assistance to many of the smaller colleges.
James Wilson Kirkham succeeded Mr. Olmsted as president, having started as an assistant cashier and holding that office until 1905 when he was elected president. He was the son of a founder and the first president of the First National Bank. He was president for a year when the bank was absorbed and liquidated by the Union Trust Company of which he was elected vice president and a director.
On March 5, 1906, stockholders voted to ratify the action taken by the directors to liquidate and consolidate with the Union Trust Company.
On Saturday, August 4, 1906, Daniel Baird Wesson, the multi-millionaire rifle and revolver maker, died in his home in Springfield. Mr. Wesson was the inventor of the cartridge with a percussion cap. In 1853 he formed a partnership with Horace Smith of Norwich, Connecticut and there worked out the principles of the Winchester rifle. Mr. Wesson and Mr. Smith in 1860 built a factory employing 600 men. During the Civil War, they supplied the United States Government with firearms. He was a founder of the First National Bank of Springfield.
In July 1908, officers of the Union Trust Company were Charles W. Bosworth, president; James W. Kirkham, vice president; William E. Gilbert, vice president and treasurer; Charles H. Churchill, secretary; William H. Haskins, assistant treasurer.
Official Bank Title(s)
1: The First National Bank of Springfield, MA
Bank Note Types Issued
A total of $1,940,630 in National Bank Notes was issued by this bank between 1863 and 1906. This consisted of a total of 303,724 notes (303,724 large size and No 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 - 5000 Original Series 4x5 1 - 13000 Original Series 4x10 1 - 6875 Original Series 2x20-50-100 1 - 200 Original Series 2x20-50-100 501 - 600 Series 1875 4x5 1 - 8775 Series 1875 4x10 1 - 5600 Series 1875 2x20-50-100 1 - 200 1882 Brown Back 4x5 1 - 30764 1882 Brown Back 3x10-20 1 - 2120 1902 Red Seal 3x10-20 1 - 3297
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1863 - 1906):
Presidents:
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Massachusetts Bank Note History
- General information on Springfield (Wikipedia)
- General information on Hampden County (Wikipedia)
- General information on Massachusetts (Wikipedia)
Sources
- Springfield, MA, 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
- Cochran, Bob, "John Ohlmsted, President, First National Bank, Springfield, Mass." Paper Money No. 212, p. 186.
- Boston Evening Transcript, Boston, MA, Thu., Feb. 9, 1893.
- Fall River Daily Evening News, Fall river, MA, Mon., Mar. 5, 1906.
- The Boston Globe, Boston, MA, Thu., Apr. 6, 1905.
- Boston Evening Transcript, Boston, MA, Mon., Aug 6, 1906.