Green Lane National Bank, Green Lane, PA (Charter 2131)
Green Lane National Bank, Green Lane, PA (Chartered 1873 - Liquidated 1875)
Town History
Green Lane is a borough in Montgomery County, Pennsylvania. The population was 490 at the 2020 census. In 1880 the population was 187, growing to 372 by 1910. It is part of the Upper Perkiomen School District and Boyertown Area School District. It is one of a strip of small towns that run together along Route 29, including Red Hill, Pennsburg, and East Greenville.
The Perkiomen Creek drains a major portion of western Montgomery County, beginning just beyond the northern borders of the county flowing south. Above Green Lane a dam creates the Green Lane Reservoir. The creek empties into the Schuylkill River at the county's lower border. The old Perkiomen Railroad closely followed the stream's path. The name Perkimen is from the Lenape term Pakihm Unk (pronounced for Pah Keym Unk), which means "cranberry place" in English. The 1970 song Perkiomen by Hall and Oates is named after the Perkiomen Creek.
Green Lane had three National Banks chartered during the Bank Note Era, and all three of those banks issued National Bank Notes.
Bank History
- Organized September 30, 1873
- Chartered December 15, 1873
- Liquidated September 9, 1875
On December 15, 1873, John Jay Knox, Comptroller of the Currency authorized the Green Lane National Bank in the village of Green Lane, Pennsylvania, to commence the business of banking.[1]
The National Bank of Green Lane planned to go into operation in January 1874 in Nathaniel B. Moll's new house. A large safe was procured and workmen were busily engaged in fitting up the different rooms for banking purposes. Dr. John N. Jacobs of Lansdale would assume the responsibilities of cashier.[2] The capital was $50,000.[3]
Stockholders met on January 18th, 1874, and voted to increase the capital to $100,000. The original stockholders had the right to double their subscription if done before February 20th.[4] In December 1874, Mr. Jacob Welker sold the Green Lane Hotel, then occupied by Mr. Nathaniel B. Moll, to Mr. Koffel for $8,500.[5]
After just about two years, the institution liquidated in September 1875. Dissatisfaction among the stockholders and directors led to its liquidation. Two factions resulted, one of these established the Perkiomen National Bank of Pennsburg which later for three years became a trust company and was again converted into a national bank, this time called the Perkiomen National Bank of East Greenville (Charter 5166). The other faction started the Farmers National Bank of Pennsburg which opened its doors on May 6, 1876.[6]
On Wednesday morning, October 2, 1918, Edwin M. Benner, one of the oldest printers in Montgomery County, died at his home at Sumneytown at the age of 86. Mr. Benner conducted a job printing plant at Sumneytown until about four years ago when his son became his successor. He learned the trade at Allentown and later worked for his father at Sumneytown on the Bauren Freund, at that time published there. After that newspaper office was moved to Pennsburg, he continue the job printing business. He was a mail carrier for a number of years, carrying the mail from his home town to Pottstown on horseback once a week. He also was president of the First National Bank in Green Lane which later moved to East Greenville. The father of Mr. Benner, Enos Benner, after 30 years, disposed of the Bauren Freund in 1853 to Albrecht Kneule, who at the time was proprietor of the Pennsburg Democrat. Kneule then consolidated the two papers. Edwin Benner was president of the Farmers National Bank of Pennsburg for many years after which his brother-in-law, Jonathan P. Hillegrass succeeded him.[7]
Official Bank Title
1: The Green Lane National Bank, Green Lane, PA
Bank Note Types Issued
A total of $97,500 in National Bank Notes was issued by this bank between 1873 and 1875. This consisted of a total of 24,000 notes (24,000 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 - 1500 Original Series 4x5 1 - 4500
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1873 - 1875):
Presidents:
Cashiers:
- Dr. John N. Jacobs, 1874-1875 NOTE: a featured biography is available
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
- Green Lane National Bank, Green Lane, PA History (NB Lookup)
- Pennsylvania Bank Note History (BNH Wiki)
Sources
- Green Lane, 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
- ↑ The Reporter, Lansdale, PA, Thu., Jan. 1, 1874.
- ↑ The Reporter, Lansdale, PA, Thu., Dec. 25, 1873.
- ↑ Washington Chronicle, Washington, DC, Thu., Dec. 18, 1873.
- ↑ The Reporter, Lansdale, PA, Thu., Feb. 26, 1874.
- ↑ The Reporter, Lansdale, PA, Thu., Dec. 17, 1874.
- ↑ The Morning Call, Allentown, PA, Sat., Mar. 27, 1926.
- ↑ News Herald, Perkasie, PA, Wed., Oct. 9, 1918.