First National Bank, Terrell, TX (Charter 3816)
First National Bank, Terrell, TX (Chartered 1887 - Liquidated 1930)
Town History
Terrell is a city in the U.S. state of Texas, located in Kaufman County. As of the 2020 census, its population was 17,465. In 1890 the population was 2,988, growing to 8,795 by 1930. Terrell is located about 32 miles east of Dallas.
Terrell developed as a railroad town, beginning in 1873 with the construction of the Texas and Pacific Railroad line. The town was named for Robert A. Terrell, a pioneer European-American settler whose farm lay on its western edge. He built an octagonal house on his property, called "Round House", to provide better defense against attacks by Native Americans. His house was later fitted with the first glass windows in the county. The community was incorporated in 1875. The first automobile appeared in 1899.
The Terrell Military College was established in Terrell, operating until after World War II. Its campus was sited on part of the former Terrell farm and incorporated his historic Round House. In 1949, the Southern Bible Institute, based in Dallas and affiliated with the Churches of Christ, bought the military college property and transferred their operations here, renaming their institution Southwestern Christian College. It is a private, historically black college. The Round House has been preserved on campus, and is one of 20 such structures in the nation.
Terrell had four National Banks chartered during the Bank Note Era, and two of those banks issued National Bank Notes.
Bank History
- Organized October 26, 1887
- Chartered November 23, 1887
- Liquidated April 5, 1930
- Absorbed by 4990 (Harris National Bank/American NB, Terrell, TX)
- Receivership July 27, 1931
In February 1888, papers were filed with the office of the secretary of state for the Anchor Loan and Trust Company of Dallas, capital stock $100,000. Incorporators were John Caro Russell, M.W. Raley of Kaufman County; H.C. Hieatt, of Tarrant County; and Henry Exall and Joseph M. Dickinson of Dallas County.[2]
A new bank was organized at Terrell, the First National Bank with capital stock of $50,000 and privilege of increase to $200,000.[3]
In November 1889, one million dollars capital was the investment planned for a new St. Louis bank with Texas promoters of the project contributing $250,000. Mr. John Caro Russell of Terrell, Texas arrived in St. Louis for the purpose of organizing a bank to be known as the National Bank of the Republic. Mr. Russell, though a young man well down in his 30s was president of the First National Bank of Terrell and one of the foremost bankers and financiers in Texas. He and his family owned six banks in Texas and he had been engaged in banking since he was a boy. For two years he was treasurer of the Texas Bankers' Association. Having more money than could be profitably employed in Terrell, Mr. Russell sought a larger field elsewhere and fixed upon St. Louis as the best point in the country for the establishment of a new national bank. The names of the Texas subscribers were: Tom Randolph, president, Merchants and Planters National Bank of Sherman, Texas; J.C. O'Connor, president; City National Bank, Dallas; Henry Exalt, vice president, North Texas National Bank, Dallas; J.W. Rainey, president, Greenville, National Bank, Greenville; A.W. Byers, vice president, City Bank, Sherman; S.B. Hopkins, cashier, Fourth National Bank, Dallas; M.W. Raley, cashier, First National Bank, Terrell; A.G. Wills, cashier, National Bank of Commerce, Dallas; E.M. Landscape, cashier, Central National Bank, Dallas, G.W. Voiers, cashier, Forney National Bank, Forney; Schneider & Davis, wholesale grocers, Dallas; Keating Implement and Machine Co., Dallas, Thomas Bros., real estate, Dallas; James Kincannon, national bank examiner for Texas, New Mexico and Arizona; Geo C. Lester, Dallas; J.D. and J.J. Raley, Ruston, Louisiana; John Caro Russell, president First National Bank, Terrell; Geo. W. Merchant, agent, Remington Typewriter, Dallas; A.D. Aldridge & Co., stationers, printers and bookbinders, Dallas; Royal A. Ferris, second vice president; National Exchange Bank, Dallas; N.A. McMillan, cashier, National Exchange Bank, Dallas; W.O. Ellis & Co., bankers, Houston; E.W. Taylor, president, Merchants National Bank, Fort Worth; and J.N. Rushing, Baird. It was rumored that the new building under construction at Tenth and Olive Streets would be secured for the occupancy of the new bank.[4]
On Tuesday, January 12, 1892, stockholders elected the following directors: J.H. Muckleroy, Matthew Cartwright, M.W. Raley, J.B. Porter, O.B. Colquitt, Torn Layden, Harris Brin, Philip Brin, and Sidney Bass. The directors met after the stockholders' meeting and elected Matthew Cartwright, president; M.W. Raley, vice president; and B.L. Gill, cashier.[5] NOTE: O.B. Colquitt helped organize the First National Bank of Terrell and was associated with its management for 17 years. He was elected to the Texas Senate in 1895 and served for four years and in 1910 was elected as the 25th Governor of Texas, serving until January 1915.[6]
On November 3, 1920, Marion W. Raley, one of the founders of the First National Bank of Terrell, killed himself with a shotgun at his home in Terrell. He had been in ill-health for several weeks and was said to have brooded much over the death of his son who accidentally killed himself with a pistol more than a year ago. Mr. Raley was prominent in banking circles in Texas and was recently appointed a member of a committee to organize a $5 million cotton marketing corporation for the state.[7]
On September 13, 1926, Sidney Bass, 85, a resident of Terrell for more than 50 years 40 of which were spent in the drug business there, died following a long illness. He received his early education in Stamford, Connecticut, in the Yale Preparatory School and graduated from Centenary College in 1860. Following his graduation, the Civil War broke out and he volunteered his services, becoming captain of Company B, 25th Louisiana Infantry. He served in Walthall's brigade and participated in the battles of Shiloh, Perryville, Murfreesboro, Chickamauga and the battles around Atlanta.[8] He was one of the founders and first directors of the First National Bank of Terrell and was its vice president upon his death. Mr. Bass was a brother of the late Dr. John H. Bass of Abilene. Surviving children were Dr. T.B. Bass of the Abilene State Hospital, Sidney J. Bass, president of the Bass Drug Company of Terrell; Mrs. J.E. Peyton of Shreveport, Mrs. Wylie Smith of Denton and Mrs. J.P. Elliott and Mrs. H. Galbraith of Terrill.[9]
On Monday, February 24, 1930, the American National Bank and the First National Bank of Terrell were merged. Business opened on Tuesday, February 25th as the American National Bank with combined assets making it one of the strongest in East Texas. The capital surplus and profits were $466,192.39 with deposits of $2,741,998.91.[10] On April 19th, the voluntary liquidation of the First National Bank of Terrel was announced by the comptroller of the currency. The First National had an authorized capital of $200,000.[11]
Official Bank Title
1: The First National Bank of Terrell, TX
Bank Note Types Issued
A total of $3,633,330 in National Bank Notes was issued by this bank between 1887 and 1930. This consisted of a total of 505,804 notes (479,032 large size and 26,772 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 - 12200 1882 Brown Back 3x10-20 1 - 4100 1902 Red Seal 4x10 1 - 1250 1902 Date Back 4x5 1 - 14400 1902 Date Back 4x10 1 - 12875 1902 Plain Back 4x5 14401 - 56455 1902 Plain Back 4x10 12876 - 45753 1929 Type 1 6x5 1 - 3087 1929 Type 1 6x10 1 - 1375
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1887 - 1930):
Presidents:
- John Caro Russell, 1888-1889
- Matthew Cartwright, 1890-1890
- John Caro Russell, 1891-1891
- Matthew Cartwright, 1892-1906
- Marion Wickliffe Raley, 1907-1920
- Matthew Cartwright Roberts, Sr., 1921-1928
- Sidney J. Bass, 1929-1929
Cashiers:
- Marion Wickliffe Raley, 1888-1889
- Bennett Lloyd Gill, Sr., 1890-1910
- Ernest Forbes Morrow, 1911-1920
- Millard Hugh Pace, 1921-1929
Other Known Bank Note Signers
Bank Note History Links
Sources
- Terrell, TX, 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
- ↑ Kaufman, Texas: The County of Prosperity. Published by The Kaufman County Exhibit Association, 1910. Accessed Nov. 24, 2024 from the DeGolyer Library, Southern Methodist University.
- ↑ Austin American-Statesman, Austin, TX, Sat., Feb. 18, 1888.
- ↑ The Fort Worth Gazette, Fort Worth, TX, Fri., Nov. 11, 1887.
- ↑ The Galveston Daily News, Galveston, TX, Mon., Nov. 4, 1889.
- ↑ The Galveston Daily News, Galveston, TX, Thu., Jan. 14, 1892.
- ↑ Fort Worth Star-Telegram, Fort Worth, TX, Fri., Mar. 8, 1940.
- ↑ Times Record News, Wichita Falls, TX, Thu., Nov. 4, 1920.
- ↑ The Waco Times-Herald, Waco, TX, Tue., Sep. 14, 1926.
- ↑ Abilene Reporter-News, Abilene, TX, Tue., Sep. 14, 1926.
- ↑ The Texas Mesquiter, Mesquite, TX, Fri., Feb. 28, 1930.
- ↑ Fort Worth Record-Telegram, Fort Worth, TX, Sat., Apr. 19, 1930.