Miners National Bank, Pottsville, PA (Charter 649)
Miners National Bank, Pottsville, PA (Chartered 1864 - Closed (Merger) 1999)
Town History
Pottsville is a city and the county seat of Schuylkill County, Pennsylvania. Pottsville is located on the west bank of the Schuylkill River, 47.4 miles west of Allentown, 96.6 miles northwest of Philadelphia, 52 miles south of Wilkes-Barre and 135 miles west of New York City. It is located in Pennsylvania's Coal Region. The population was 13,346 at the 2020 census. In 1860 the population was 9,444 peaking in 1940 at 24,530.
Pottsville's anthracite coal history began in 1790 when a coal seam was discovered by hunter Necho Allen. Legend has it that Allen fell asleep at the base of the Broad Mountain and woke to the sight of a large fire; his campfire had ignited an outcropping of coal. By 1795 an anthracite-fired finery forge was established on the Schuylkill River. In 1806, John Pott, the founder of Pottsville, purchased the forge. By an act of Assembly of the Commonwealth approved March 1, 1811, the County of Schuylkill was erected out of portions of Berks and Northampton; this placed the site of Pottsville in Schuylkill County. The town was formally laid out in 1816 by a local surveyor, Henry Donnell. Pottsville was established as a village in Norwegian Township in 1819 and incorporated as a borough on February 19, 1828. In 1829, D.G. Yuengling & Son established what is now the oldest brewery in the United States. In 1851, Pottsville became the county seat of Schuylkill County, replacing the original county seat of Orwigsburg.
Because of its location along the Schuylkill River, Pottsville developed a small textile industry. Out of this industry grew the Phillips Van Heusen company which was founded in 1881. Moses Phillips and his wife Endel began sewing shirts by hand and selling them from pushcarts to the local coal miners. Van Heusen and other textile companies left the region starting in the late 1970s, mainly as a result of foreign competition.
Pottsville had five National Banks chartered during the Bank Note Era, and four of those banks issued National Bank Notes.
Bank History
- Organized December 13, 1864
- Chartered December 24, 1864
- Succeeded Miners Bank
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Merged into Berks County Bank in Reading, PA, January 1, 1999
The Miners' Bank of Pottsville
In December 1827, Mr. Snyder from the committee on banks, Pennsylvania Legislature, reported the following bills: No. 52, an act to incorporate the Bank of Penn Township in the county of Philadelphia; No. 53, an act to incorporate the Miners' Bank of Pottsville in Schuylkill County; which bills were read and made the order of the day of the third Monday in January next.[1]
In February 1828, the bill to incorporate the Miners' Bank of Pottsville in Schuylkill County was red the third time and passed.[2] The list of acts passed by the Legislature of Pennsylvania at the Session of 1827-8, included 32. An act to incorporate the Bank of Penn Township in the county of Philadelphia; 38. An act to incorporate the Miners Bank of Pottsville in Schuylkill County.[3] The Miners Bank was authorized by the Act of February 7th and established October 28th, 1828.
In September 1828, stockholders of the Miners' Bank of Pottsville were notified that an election for thirteen directors would be held at the house of George Shoemaker on Monday the 29th between the hours of nine in the morning and six in the evening. [The commissioners were] Robert Earp, Edward B. Hubley, Daniel Montgomery, Joseph Paxton, Francis B. Nichols, C.A. Bradford, Levi Ellmaker, Jacob W. Seitzinger, William Donaldson, Daniel Clever, and Benjamin Pott.[4] Francis B. Nichols was elected the first president with D.J. Rhoads as cashier.[5] Mr. Rhoads was a director of the Kensington Bank of Philadelphia.[6]
In December 1829, the United States Gazette reported having had the pleasure of examining the notes (unsigned) of the Miners' Bank at Pottsville, remarking they were among the most finished specimens of bank paper they had ever seen and did great credit to Messrs. Toppan & Co., the artists of whom were the engravers. They were of denominations of six, seven, eight, and nine dollars and were thus calculated for the convenience of the community in the vicinity of the bank.[7]
In June 1830, a banking house for the Miners' Bank was being erected in Pottsville, the front of which was formed of cast iron plates. In the interior of the building, iron was substituted for wood where practicable.[8] On Wednesday, November 24, 1830, Mr. Craven of the Schuylkill Bank of Philadelphia was elected cashier of the Miners' Bank at Pottsville, Schuylkill County.[9]
On Saturday, July 9, 1831, Mr. Zadok Thomas was appointed president of the Bank of Montgomery County in the room of Joseph Thomas, Esq, resigned, and John Boyer, Esq. (late clerk in the Prothonotary's Office), clerk. Mr. J. Thomas' high respectability and usefulness as an experienced and efficient officer of the bank procured for him a lucrative position. He was installed into office as cashier of the Miners' Bank of Pottsville on Monday the 11th.[10] On Monday, November 21, 1831, stockholders elected the following directors: John Shippen, Burd Patterson, Benjamin Pott, Gaius Moore, M.B. Buckley, John C. Offerman, Thomas Sillyman, Thomas Biddle, Charles H. Baker, Edwin Swift, John Schall, Martin Weaver, and Thomas C. Pollock.[11]
Data from the Statement of Condition made to the Pennsylvania Auditor General, December 1836. The Bank of the United States which was to have regulated the currency had near ten dollars in notes in circulation for each dollar of specie in its vaults. Compared to other Pennsylvania banks, its pecuniary matters were in a worse condition than most in the Commonwealth.[12]
| Bank | Notes ($) | Specie ($) | ratio |
|---|---|---|---|
| Bank of the United States | 33989247 | 3424763 | near 10 to 1 |
| Bank of Pennsylvania | 1117380 | 251649 | over 4 to 1 |
| Commercial Bank of Pennsylvania | 360669 | 139768 | near 3 to 1 |
| Bank of Northern Liberties | 289873 | 115402 | over 2 to 1 |
| Philadelphia Bank | 447719 | 151376 | near 3 to 1 |
| Manufacturers' & Mechanics' Bank | 188050 | 29592 | near 6 to 1 |
| Girard Bank | 788515 | 430941 | over 2 to 1 |
| Moyamensing Bank | 142395 | 68023 | over 2 to 1 |
| Bank of Germantown | 65255 | 20617 | over 3 to 1 |
| Penn Township Bank | 468060 | 47180 | near 10 to 1 |
| Western Bank, Philadelphia | 221190 | 46465 | near 5 to 1 |
| Farmers' and Mecahnics' Bank, Philadelphia | 387940 | 201820 | near 2 to 1 |
| Kensington Bank | 154465 | 27427 | near 6 to 1 |
| Mecahnics Bank, Philadelphia | 264300 | 77595 | near 4 to 1 |
| Bank of North America | 283058 | 114543 | over 2 to 1 |
| Bank of Delaware County | 94266 | 23810 | near 4 to 1 |
| Schuylkill Bank, Philadelphia | 616946 | 86340 | near 8 to 1 |
| Bank of Washington | 10965 | 12160 | more specie than notes |
| Bank of Pittsburg | 704981 | 162482 | near 5 to 1 |
| Bucks County Bank | 73560 | 5773 | over 14 to 1 |
| Towanda Bank (Bradford Co.) | 316875 | 16371 | over 14 to 1 |
| Bank of Chester County | 368370 | 62878 | near 7 to 1 |
| Lebanon Bank | 187460 | 43846 | over 4 to 1 |
| Lancaster Bank | 152745 | 29160 | over 5 to 1 |
| Bank of Lewistown | 225080 | 54923 | over 4 to 1 |
| Farmers Bank of Reading | 340605 | 50615 | near 7 to 1 |
| Bank of Northumberland | 295689 | 43669 | over 7 to 1 |
| Bank of Chambersburg | 263760 | 43711 | near 6 to 1 |
| Merchants & Manufacturers Bank of Pittsburg | 713267 | 207215 | over 3 to 1 |
| Wyoming Bank at Wilkes-Barre | 59390 | 7319 | over 8 to 1 |
| Farmers Bank of Lancaster | 445707 | 43018 | over 10 to 1 |
| Farmers' and Drovers' Bank of Greene County | 174160 | 34325 | over 5 to 1 |
| Harrisburg Bank | 395812 | 73468 | over 5 to 1 |
| York Bank | 252332 | 73266 | over 3 to 1 |
| Easton Bank | 293013 | 44962 | near 6 to 1 |
| Carlisle Bank | 238407 | 37934 | near 6 to 1 |
| Exchange Bank, Pittsburg | 194500 | 63811 | over 3 to 1 |
| Bank of Middletown | 251950 | 24820 | over 10 to 1 |
| Doylestown Bank | 91675 | 18859 | over 4 to 1 |
| Bank of Gettysburg | 136585 | 48601 | near 3 to 1 |
| Columbia Bridge Company | 155557 | 31569 | near 5 to 1 |
| Farmers' Bank of Bucks County | 62943 | 7292 | near 9 to 1 |
| Bank of Brownsville | 251189 | 44152 | over 5 to 1 |
| Bank of Montgomery County | 198070 | 29755 | near 6 to 1 |
| Lumberman's Bank at Warren | 253155 | 40228 | near 6 to 1 |
| Miners' Bank at Pottsville | 207565 | 7700 | near 30 to 1 |
| Erie Bank | 93116 | 15535 | near 6 to 1 |
| Northampton Bank | 384687 | 37580 | Over 10 to 1 |
On June 30, 1847, Francis B. Nichols died in Pottsville. He was a midshipman during the War of 1812 and an officer on board the Cheasapeake at the time of her capture by the HMS Shannon, by the side of Capt. Lawrence when he received his death shot and was himself wounded during the engagement. His ancestors were of revolutionary fame and his son, Capt. William A. Nichols was serving his country in Mexico.[13] His mother, Margarete, was the daughter of Michael D. Hillegas, the first Treasurer of the United States. His joural from his days on the frigate Chesapeake, 1812-1813, may be found in the Winterthur Library.
The Miners National Bank of Pottsville
In January 1870, Wm. L. Whitney was elected cashier in place of Frederick Patterson, resigned.[14]
Col. James L. Nutting of Pinegrove, was elected a director in 1874.[15]
In May 1882, Mr. John Shippen, president of the Miners' Bank since March 4, 1831, resigned, and his resignation was accepted to go into effect on June 1st. Mr. Shippen at 82 years justly felt that he earned the retirement to pass the remainder of his life.[16] On Tuesday, May 23d, the directors elected Wm. L. Whitney, president, vice John Shippen, resigned. Mr. Whitney had been cashier for the past 12 years. To succeed Mr. Whitney, Col. Wm. Thompson was elected cashier.[17]
On Saturday, May 12, 1883, John Shippen died in Pottsville in his eighty-seventh year. He was born in Chester County on the 13th of August, 1796; springing from old English Quaker stock. Though a pew holder in the Episcopal church, he always adhered to the old Quaker doctrines, and, while he made no boast of his lineage, referred frequently with pride to the honored among his ancestry, particularly Chief Justice Shippen. He always, in speaking of them, felt called upon to make some apologetic remark concerning the wife of Benedict Arnold, who was a Miss Shippen. At a banquet years ago he compelled Charles Sumner in a playful way to apologize because he said, "Your ancestors, the Puritans, whipped mine at Boston." Mr. Shippen was a surveyor in his earlier years, and surveyed Clarion and several adjoining counties, laying out Shippensville, and erecting a furnace there which he was engaged several years in running. With George W. Snyder, Charlemagne Tower and the two Pattersons, he bought for $32,000 the Montgomery furnace at Port Kennedy, and ran it for six years, selling it at the end of that time for $125,000 which the purchasers realized the first year they held it. He went to Pottsville in 1829, and in March, 1831, became the second president of the Miners' bank of that city, succeeding Francis B. Nichols. When he assumed the head of the institution it was on the verge of insolvency, but under his shrewd, conservative and economical management during the fifty-one years he was president it became one of the wealthiest national banks in the interior of the state. He started with a salary of $600 and, though in latter years this sum was increased, he never would allow it to reach the somewhat extravagant figures he was frequently offered.[18]
On Tuesday, January 11, 1927, all the officers and directors were re-elected. Those officers were Jacob S. Ulmer, president; James Archbald, vice president; George H. DeFrehn, cashier; William C. and Henry C. Frick, assistant cashiers. The directors re-elected were Jacobo Ulmer, Harry R. Carl, Louis F. Ulmer, James Archbald, Hugh Dolan, H. Thompson, J.W. Beecher, Georges M. Roads, and James B. Neale.[19]
In 1927, the Miners' National occupied temporary quarters across Centre Street during construction of the new bank. Thus it remained close to its old home that had been occupied for 100 years. The building that was used was formerly the old Safe Deposit Bank building. P.S. Canfield's Wrecking and Steam Shovel Co. of New Philadelphia removed the old Miners National Bank building and excavated the new foundation. In true Colonial fashion, the exterior was a contrast of red and white walls of red Harvard brick and ornaments of Georgia marble. Against the ruddy background, white pilasters supported an elaborate marble entablature and pediment. Large windows with circular heads supported by bronze work opened into the main banking room. Above them on each side of the facade was a marble head of Mercury, worshipped by the ancients as the god of trade and commerce. Above the entrance was the head of Pluto, god of the lower world and giver of the wealth in mines, wells and quarries.
Heavy steel plates lined the whole interior of the vault and the big circular door was of tool-proof steel, a special metal which resisted even the blow torch, the solid thickness was 20 inches and the overall thickness was 27 inches. The vault door weighed 36 tons with 24 steel bolts four inches in diameter constituting the lock which was controlled by four time locks including the electric alarm system. There was an emergency door of equal strength and protection for us in case the main door should fail to unlock. The emergency door opened into the vault taken from the old building placed beside the new vault to hold the securities and funds of the bank. The directors' room was on the mezzanine at the rear with walls of paneled black walnut, a vaulted ceiling and large windows. The rear of the property included a dwelling renovated for use by one of the janitors and the space around it was paved for automobile parking. This was surrounded by substantial brick walls with stone coping and iron grills along Railroad Street.
Georgia marble was used for the exterior and was supplied by the Georgia Marble Co. of Tate, Georgia. The interior stone and marble was furnished by the firm of Geo. W. Maltby & Sons Co., Buffalo, New York. The interior stone walls were of Jeanne D'Arc French limestone imported specially for this bank building. The floor of the main banking room was of Italian Travertine stone with inserts in seven different colors of marble, the product of widely separated countries including Greece, Italy, Africa and the United States. The green marble base used throughout the building and the circular stairway to the directors' room was Tinos Green from Greece. Renner & Maras, Inc., executed the ornamental, hand-forged iron work used for the counter-rail, safe deposit grille and stair-rail. Following the practices and tenets of the old masters, glowing red iron ingots were beaten on an anvil with a hammer. No castings were used; the hand of the smith was evident in the bars, leaves and scrolls. Small hand-hammered bronze plaques along the counter-rail depicted various mining activities all in keeping with the final purpose, place and use. The Miners National Bank invited the public to inspect their new building on Friday, November 4, 1927, from 1 to 8 p.m.[20]
On November 28, 1928, the Miners' National Bank of Pottsville was one hundred years old. The institution began business in a little building at Centre and Norwegian Streets with Francis B. Nichols as the first president. Two years later the bank moved to the site where the new building was erected and opened a year ago. James B. Archbald was president.[21]
Salaries of national bank officers were made public with announcement of a report to the senate banking and currency committee. The highest salary paid to a president of a Pennsylvania national bank was $69,679 which went to Joseph Wayne, Jr. of the Philadelphia National Bank. This amount included bonuses and fees for attending directors' meetings. Officers of the Miners' National Bank of Pottsville were paid as follows: James Archbald, president, $4,000; Louis F. Ulmer, vice president, $1,200; and H.C. Frick, cashier, $5,000.[22]
- December 20, 1986 acquired the Miners National Bank of Shenandoah, Shenandoah, PA
- March 1, 1995, changed institution name to Heritage National Bank and acquired the Schuylkill Haven Trust Company. NOTE: more information on the trust company may be found on the bank history page for the First National Bank and Trust Company of Schuylkill Haven, PA
- January 1, 1999, merged with Berks County Bank of Reading, PA
- March 8, 2002, merged with Sovereign Bank in Wyomissing, PA
- October 17, 2013, changed institution name to Santander Bank, N.A.
Official Bank Titles
1: The Miners National Bank of Pottsville, PA
2: The Miners' National Bank of Pottsville, PA [1929]
Bank Note Types Issued
A total of $9,620,900 in National Bank Notes was issued by this bank between 1864 and 1935. This consisted of a total of 763,661 notes (668,362 large size and 95,299 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1: Original Series 4x5 1 - 7500 1: Original Series 3x10-20 1 - 7000 1: Original Series 50-100 1 - 1000 1: Series 1875 4x5 1 - 3000 1: Series 1875 3x10-20 1 - 7384 1: Series 1875 50-100 1 - 1000 1: 1882 Brown Back 4x5 1 - 5500 1: 1882 Brown Back 3x10-20 1 - 30827 ABCA plate with 'Printed at BEP' DEFB plate with BEP in bottom border
1: 1882 Brown Back 50-100 1 - 3167 1: 1902 Red Seal 3x10-20 1 - 20000 1: 1902 Date Back 3x10-20 1 - 46500 1: 1902 Plain Back 3x10-20 46501 - 83296 2: 1929 Type 1 6x5 1 - 4100 2: 1929 Type 1 6x10 1 - 5976 2: 1929 Type 1 6x20 1 - 1704 2: 1929 Type 1 6x50 1 - 504 2: 1929 Type 2 10 1 - 16864 2: 1929 Type 2 20 1 - 4731
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1864 - 1935):
Presidents:
- John Shippen, 1865-1881
- William Lebbeus Whitney, 1882-1893
- William Thompson, 1894-1902
- Capt. Heber Samuel Thompson, 1903-1903
- Jacob S. Ulmer, 1904-1927
- James Archbald, 1928-1935
Cashiers:
- Charles Loeser, 1865-1868
- Frederick Graeff Patterson, 1869-1869
- William Lebbeus Whitney, 1870-1881
- William Thompson, 1882-1892
- George Howard De Frehn, 1893-1927
- Henry C. Frick, 1928-1932
- Charles Albert Berner, 1933-1933
- Madison Monroe Myers, 1934-1935
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Pottsville, 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 United States Gazette, Philadelphia, PA, Tue., Dec. 18, 1827.
- ↑ The United States Gazette, Philadelphia, PA, Fri., Feb. 8, 1828.
- ↑ Gettysburg Compiler, Gettysburg, PA, Wed., Apr. 30, 1828.
- ↑ The United States Gazette, Philadelphia, PA, Tue., Sep. 23, 1828.
- ↑ Pottsville Republican, Pottsville, PA, Thu., Nov. 3, 1927.
- ↑ The Philadelphia Inquirer, Philadelphia, PA, Mon., Nov. 26, 1827.
- ↑ The United States Gazette, Philadelphia, PA, Tue., Dec. 22, 1829.
- ↑ York Gazette, York, PA, Tue., June 22, 1830.
- ↑ The United States Gazette, Philadelphia, PA, Tue., Nov. 30, 1830.
- ↑ The Record, West Chester, PA, Wed., July 13, 1831.
- ↑ The United States Gazette, Philadelphia, PA, Fri., Nov. 25, 1831.
- ↑ The Franklin Telegraph and Democratic Advertiser, Chambersburg, PA, Mon., May 22, 1837.
- ↑ Bangor Daily Whig and Courier, Bangor ME, Tue., July 13, 1847.
- ↑ Reading Times, Reading, PA, Thu., Jan. 27, 1870.
- ↑ The Daily News, Lebanon, PA, Wed., May 6, 1874.
- ↑ Reading Times, Reading, PA, Fri., May 19, 1882.
- ↑ Harrisburg Daily Independent, Harrisburg, PA, Wed., May 24, 1882.
- ↑ Lancaster Intelligencer, Lancaster, PA, Wed., May 16, 1883.
- ↑ Pottsville Republican, Pottsville, PA, Tue., Jan. 11, 1927.
- ↑ Pottsville Republican, Pottsville, PA, Thu., Nov. 3, 1927.
- ↑ Republican and Herald, Pottsville, PA, Thu., Nov. 29, 1928.
- ↑ Berwick Enterprise, Berwick, PA, Wed., Mar. 7, 1934.