First National Bank of Chartiers/Carnegie, PA (Charter 4762)

Needed: a contemporary postcard or photo of the bank.

First National Bank of Chartiers/Carnegie, PA (Chartered 1892 - Receivership 1925)

Town History

Carnegie is a borough in Allegheny County, Pennsylvania, and is part of the Pittsburgh metropolitan area. The population was 7,972 in the 2010 census. In 1900 the population was 7,330, peaking in 1940 at 12,663. Carnegie is named after Andrew Carnegie, who donated one of his libraries for the gesture. It was incorporated on March 1, 1894, from the boroughs of Chartiers and Mansfield (separated by Chartiers Creek). On April 26, 1898, Carnegie gifted the town with an initial grant of $200,000 for the building of the library and an attached music hall, lecture hall, and gymnasium; he also provided an additional $10,000 for the library to purchase books.

Chartiers Township is in Washington County, Pennsylvania. The township was named after Peter Chartier, a trapper of French and Shawnee parentage who established a Pekowi Shawnee community in this area in 1734. In April 1745 Chartier and the Shawnees abandoned the town when the Pennsylvania provincial council indicted him for treason after he defied Governor Patrick Gordon over the sale of rum to the Shawnees. When coal was discovered in Washington County in the 1880s it was shipped down Chartiers Creek to the Ohio River in times of high water.

Carnegie had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes. The banks were the First National Bank of Chartiers/Carnegie, (Charter 4762), the Carnegie National Bank (Charter 6174), and the Union National Bank of Carnegie (Charter 12934).

Bank History

Organized May 16, 1892
Chartered June 23, 1892
2: Receivership May 12, 1925

On June 24, 1892, President Pickergill of the First National Bank of Chariers received a telegram from the Comptroller of the Currency at Washington to the effect that the charter for the institution had been granted. Quarters were secured earlier and handsomely fitted. The bank opened Monday, June 27th.

In January 1893, the following were elected as directors: William Pickersgill, Jr., F. Brettholle, A.H. Heisey, George G. Hosack, George Faunce, W.A. Shaw, John Henry, E.G. Husler, J.W. Carnahan, William M. Galbraith, T.F. McCabe. The bank's deposits totaled $144,941.87 and the loans and discounts $165,967.83.

In March 1889, Andrew Carnegie promised a $100,000 library if Johnson City, East Tennessee changed its name to Carnegie. In August 1894, Chartiers in Allegheny County changed its name to Carnegie.

In April 1896, The First National moved to new quarters at No. 3, Fourth Avenue which the directors recently purchased from Michael O'Keefe for $16,000.

On September 10, 1900, Catherine, wife of Peter Wagner, and mother of Hans Wagner, the ball player, died at her home on Railroad Avenue, Carnegie.  Mrs. Wagner was born in Germany June 5, 1838, and married there in 1864. In l867 she came to America where she reared her family. Six children survive. Charles, Albert. Louis, John, Carrie and William. Her son John (generally called Hans), is the famous outfielder of the Pittsburgh baseball team. Albert, another son, was also a professional ball player, having come home two weeks ago from Kansas City, the team he played for in the American League. Her husband, Peter Wagner, was employed at the First National Bank of Carnegie. The Pittsburgh club and the players telegraphed orders for floral tributes. Vice President Kerr attended the funeral.

In December 1901, the Carnegie Trust Co. and the First National Bank of Carnegie consolidated. The capitalization of the merged bank was $150,000. No change in management of either institution was made.

In January 1914, the directors elected were: John A. Bell, John A. Bell, Jr., Samuel Gamble, William D. Hill, George Z. Hosack, E.G. Husler, and Herbert A. Johns.

On April 27, 1925, hundreds of residents swarmed around the First National Bank of Carnegie and the Carnegie Trust Co. when the two institutions failed to open their doors for business. Police were stationed at the doors of the banks to break up possible disorder among the depositors. John A. Bell of Carnegie was president of both institutions. The Carnegie Trust Co. had capital stock of $225,000. In addition to Mr. Bell, the officers were John A. Bell, Jr., vice president; Joseph H. walker, secretary and treasurer, directors, John A. Bell, John A. Bell, Jr., Samuel Gambie, William D. Hill, C.A. Foster, John S. Robb, Jr., H.J. Nesbit, George T. Kirkbride, W.A. Love, William F. Sossong, Fred L. Brettholle, Daniel Boden, H.A. Johns, Joseph H. Walker, William C. Mackie, and D.J. Walter.

The capital stock of the First National Bank was $100,000. In addition to Mr. Bell, the officers were H.A. Johns, vice president; J. Rodda, cashier; N.E. Ross, assistant cashier; directors, Samuel Gamble, J.A. Bell, J.A. Bell, Jr., W. Hill, and H.A. Johns.

The following statement was made by Peter G. Cameron, state secretary of banking:  "The Reserve fund of the Carnegie Trust Co. has been below the legal requirements for some days. Although every effort has been made by the company to build up the reserve to the required amount it has failed to do so, owing to the frozen condition of its assets, which in turn, is a direct result of the stagnation that has obtained in the bituminous coal industry of Pennsylvania for some months, the Carnegie Trust Co. being the holder of obligations of coal companies aggregating a considerable sum.  Because of these conditions it was the duty of the secretary of banking to take possession of the business and property of the trust company in order that the interests of the depositors and other creditors might be protected."  Frank W. Jackson of Apollo, Pa, was appointed special deputy, as agent to continue or liquidate the affairs of the institutions as further investigation warranted. Mr. Jackson was an experienced bank examiner.

The Burgettstown National Bank, of which John A. Bell was head, was open for business and it was stated by one of its officers that Mr. Bell was only the nominal head and that the bank was really under control of Burgettstown business men. It was learned that the Carnegie Coal Co., which had been bought by John A. Bell about two years earlier had been returned to its original owners, J.H. Sanford and J.T.M. Stonerode. Bell executed a mortgage to these men and the properties were returned under the terms of the mortgage. This was an independent coal company and the capital was $8,000,000 when Bell took hold. J.H. Sanford was now president, and Stonerode vice president. The properties were regarded highly and the physical condition had not been impaired in the least.

Official Bank Title(s)

1: The First National Bank of Chartiers, PA

2: The First National Bank of (4/21/1894), Carnegie, PA

Bank Note Types Issued

1882 Brown Back $5 bank note with pen signatures of H.A. Johns, Cashier and William Pickersgill, Jr., President.

1902 Date Back $20 bank note with stamped signatures of H.A. Johns, Cashier and John A. Bell, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

A total of $1,062,930 in National Bank Notes was issued by this bank between 1892 and 1925. This consisted of a total of 135,792 notes (135,792 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
1: 1882 Brown Back	4x5	1 - 775
2: 1882 Brown Back	4x5	1 - 1925
2: 1882 Brown Back	3x10-20	1 - 760
2: 1882 Date Back	4x5	1 - 509
2: 1882 Date Back	3x10-20	1 - 395
2: 1902 Date Back	4x5	1 - 4475
2: 1902 Date Back	3x10-20	1 - 3380
2: 1902 Plain Back	4x5	4476 - 17940
2: 1902 Plain Back	3x10-20	3381 - 11644

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1892 - 1925):

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

Carnegie, PA, Wikipedia, https://en.wikipedia.org/wiki/Carnegie,_Pennsylvania
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, Sat., June 25, 1892.
Pittsburgh Dispatch, Pittsburgh, PA, Wed., Mar. 27, 1889.
Altoona Tribune, Altoona, PA, Fri., Aug. 31, 1894.
The Pittsburgh Press, Pittsburgh, PA, Tue., Apr. 7, 1896.
The Pittsburgh Press, Pittsburgh, PA, Sun., Dec. 8, 1901.
Pittsburgh Daily Post, Pittsburgh, PA, Wed., Jan. 14, 1914.
The Pittsburgh Press, Pittsburgh, PA, Mon., Apr. 27, 1925.