Laclede National Bank, Saint Louis, MO (Charter 4262)
Laclede National Bank, Saint Louis, MO (Chartered 1890 - Liquidated 1895)
Town History
St. Louis is the second-largest city in Missouri. It sits near the confluence of the Mississippi and the Missouri Rivers. In 2020, the city proper had a population of 301,578, while the bi-state metropolitan area, which extends into Illinois, had an estimated population of over 2.8 million, making it the largest metropolitan area in Missouri and the second-largest in Illinois.
The founding of St. Louis was preceded by a trading business between Gilbert Antoine de St. Maxent and Pierre Laclède Liguest in the fall of 1763. St. Maxent invested in a Mississippi River expedition led by Laclède, who searched for a location to base the company's fur trading operations. Though Ste. Genevieve was already established as a trading center, he sought a place less prone to flooding. He found an elevated area overlooking the flood plain of the Mississippi River, not far south from its confluence with the Missouri and Illinois rivers. In addition to having an advantageous natural drainage system, there were nearby forested areas to supply timber and grasslands which could easily be converted for agricultural purposes. This place, declared Laclède, “might become, hereafter, one of the finest cities in America.” He dispatched his 14-year-old stepson, Auguste Chouteau, to the site, with the support of 30 settlers in February 1764. Laclède arrived at the future town site two months later and produced a plan for St. Louis based on the New Orleans street plan. The default block size was 240 by 300 feet, with just three long avenues running parallel to the west bank of the Mississippi. He established a public corridor of 300 feet fronting the river, but later this area was released for private development.
St. Louis was transferred to the French First Republic in 1800 (although all of the colonial lands continued to be administered by Spanish officials), then sold by the French to the U.S. in 1803 as part of the Louisiana Purchase. St. Louis became the capital of, and gateway to, the new territory. Shortly after the official transfer of authority was made, the Lewis and Clark Expedition was commissioned by President Thomas Jefferson. The expedition departed from St. Louis in May 1804 along the Missouri River to explore the vast territory.
St. Louis became a major port on the Mississippi River and from 1870 until the 1920 census, it was the fourth-largest city in the country. It separated from St. Louis County in 1877, becoming an independent city and limiting its political boundaries. In 1904, it hosted the Louisiana Purchase Exposition and the Summer Olympics.
The firm of Hatch and Miller designed the Merchants-Laclede Building in 1889. The building is located at 408 Olive Street and is occupied by a Hilton Hotel. The building is of Greek Revival design, with beige granite on the first two floors and soft red sandstone and brick above. Its corner round tower with round glass is an important feature. Inside is white marble. The Newhard-Cook entrance to the building is Egyptian and is probably an addition. The building is listed on the National Register of Historic Places.
Saint Louis had 42 National Banks chartered during the Bank Note Era, and 37 of those banks issued National Bank Notes.
Bank History
- Organized March 11, 1890
- Chartered March 15, 1890
- Succeeded Laclede Bank
- Liquidated July 1, 1895
- Succeeded by 5002 (Merchants-Laclede NB, Saint Louis, MO)
In February 1867, the banking house of Bartholow, Lewis & Co. was located at No. 307 North Third Street, near the Post Office, the bank having organized in 1866 with capital of $250,000. The bankers were Theo. Bartholow, late of Bartholow & Bro., Atchison, Kansas, Thomas J. Bartholow and Jas. W. Lewis, of B.W. Lewis & Bros., Glasgow, Missouri; and Jno. D. Perry, President, Union Pacific Railway Co., Eastern Division.
In 1872, Bartholow, Lewis & Co. reorganized under state law. The incorporators were Thos. J. Bartholow, Ben W. Lewis, Jr., W.H. Chick, Jas. A. Jackson, J.P. Card, Theo. D. Meier, W.J. Lewis, Carlos S. Greeley, Edwin Fenion, George M. Edgerton and Phineas B. Leach. Mr. Bartholow was President and Frank J. Iglehart, cashier.
In February 1881, at the annual election of directors for the banking house of Bartholow, Lewis & Co., the following named gentlemen were elected: John D. Perry, Theo. G. Meier, Geo. S. Edgell, James A. Gregory, Lewis C. Nelson, John Scullin, Jas. W. Lewis, D.R. Francis, F.L. La Force, Turner D. Lewis, P.B. Leach, Moses Hillard and Frank T. Iglehart. At the same time, stockholders voted to change the name of the institution to that of Laclede Bank. Officers were elected as follows: John D. Perry, president; Theo. G. Meier, vice president; Frank T. Iglehart, cashier. Mr. Iglehart's health had not been good and he desired to resign, but so much opposition developed that a compromise was made whereby he would remain cashier until sometime early in March when the vacancy would be filled by Mr. La Force. Mr. Iglehart would leave shortly afterward on a length European tour to recuperate through travel and rest. On February 11, 1881, papers were filed in the Secretary of State's office changing the name of the bank of Bartholow, Lewis & Co. to the Laclede Bank. Jefferson City had the heaviest snow-storm of the season with snow twelve-inches deep on the level. Trains were behind schedule and a railroad blockade was feared.
On March 7, 1882, at the annual meeting the former officers were re-elected as follows: John D. Perry, president; Theo. G. Meier, vice president; and Emil A. Mysenburg, cashier.
In January 1885, Wm. McMillan was made president and Jas. T. Birch cashier. In November of that year, Mr. McMillan retired and Samue E. Hoffman became president with S.H. Trask as cashier. In June 1887, Mr. Trask retired on account of ill-health and was succeeded by J.B. True. In 1887 the directors were S.E. Hoffman, president; John D. Perry of the Missouri Central Railroad; John Scullin of the Wiggins Ferry Co.; Chas. A. Cox of Cox & Gordan; M.J. Lippman of Rosenheim, Levis & Co., B.F. Hobart, L.D. Dozier of the Dozier-Weyl Cracker Co., Joel Wood of Wood & Lee, H.A. Blossom of H.M. Blossom & Co., Chas. Clark of the Granite Mountain Mining Co.; Geo. D. Dana of the Excelsior Stove Co., L.C. Nelson of Nelson & Noel; and George H. Goddard. The original location of the bank was at Third and Locust Streets. It removed to 217 North Third Street and on February 27, 1883 it moved again to its Third and Pine Streets location. The next move would be to Fourth and Olive where a handsome bank was in course of construction.
S.E. Hoffman was born in Union County, Pennsylvania. When a boy, he came west to Northern Illinois and eventually drifted to Kansas. He was by then a lawyer, and when in Kansas took an active interest in the politics of the State. He was a member of the Constitutional Convention and a Senator in the first legislature of the State. In 1873, Mr. Hoffman came to St. Louis and opened the banking house of Allen, Hoffman & Co. In 1875 he was made president of the Manufacturers' Savings Bank. In 1878 he became president of the Valley National Bank. When the Valley National went into liquidation, he was made president of the Laclede Bank. The business of the Valley National naturally followed him to the Laclede and that institution prospered ever since.
On February 25, 1890, the directors met and decided to increase their capital stock from $500,000 to 1,000,000 in preparation for becoming a national bank. On March 15, the comptroller of the currency authorized the Laclede National Bank of St. Louis with capital of $1,000,000 to begin business. The officers were Samuel E. Hoffman, President and James B. True, Cashier.
On December 15, 1894, Ex-Governor E.O. Stanard was elected a Director and made President of the Laclede National Bank. Nearly a year ago Mr. Samuel E. Hoffman notified the Directors of his intention of relinquishing the cares of the presidency, yet it was only recently that they found the proper party in the person of the ex-Gov. After accepting the resignation of Mr. Hoffman, E.O. Stanard, one of St. Louis' oldest millers, was elected to fill a vacancy in the board and to become the head of that financial institution. Mr. John D. Perry, the Vice President, also placed his resignation before the board. It was accepted, and his son-in-law, ex-Gov. David R. Francis, was elected in his place. Mr. Hoffman and Mr. Perry remained in the Directory, and both retained their interests.
On May 21, 1895, directors of the Laclede National Bank and the Merchants National Bank agreed upon an arrangement to merge the two institutions. The following were the directors of the Laclede National Bank: Charles Clark, D.R. Francis, E.O. Stanard, James B. True, Julius S. Walsh, G.H. Goddard, Chas. A. Cox, D.W. Caruth, W.H. Lee, L.D. Dozier, and Alfred Clifford.
Official Bank Title(s)
1: The Laclede National Bank of St. Louis, MO
Bank Note Types Issued
A total of $77,800 in National Bank Notes was issued by this bank between 1890 and 1895. This consisted of a total of 6,224 notes (6,224 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 1882 Brown Back 3x10-20 1 - 1556
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1890 - 1895):
Presidents:
Cashiers:
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Missouri Bank Note History
- General information on Saint Louis (Wikipedia)
- General information on St. Louis County (Wikipedia)
- General information on Missouri (Wikipedia)
Sources
- Saint Louis, MO, 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
- St. Louis Globe-Democrat, St. Louis, MO, Fri., Feb. 11, 1881.
- St. Louis Globe-Democrat, St. Louis, MO, Sat., Feb. 12, 1881.
- St. Louis Globe-Democrat, St. Louis, MO, Wed., Mar. 8, 1882.
- St. Louis Post-Dispatch, St. Louis, MO, Sun., Nov. 27, 1887.
- St. Louis Globe-Democrat, St. Louis, Tue., Feb. 25, 1890.
- St. Louis Globe-Democrat, St. Louis, Sun., Mar. 16, 1890.
- St. Louis Globe-Democrat, St. Louis, MO, Sun., Dec. 16, 1894.
- St. Louis Globe-Democrat, St. Louis, MO, Wed., May 22, 1895.