National Bank of Commerce, Wichita Falls, TX (Charter 10547)
National Bank of Commerce, Wichita Falls, TX (Chartered 1914 - Closed 1920)
Town History
Wichita Falls is a city in and the county seat of Wichita County, Texas. It is the principal city of the Wichita Falls metropolitan statistical area, which encompasses all of Archer, Clay, and Wichita Counties. According to the 2020 census, it had a population of 102,316, making it the 43rd-most populous city in Texas.
American settlers arrived in the 1860s, mainly as cattle ranchers. The city was named Wichita Falls on September 27, 1876, as the Wichita River runs through the area and a waterfall was in the river's course in 1876. Just 10 years later in 1886, a flood destroyed the original waterfall on the Wichita River for which the city was named. After nearly 100 years of visitors wanting to visit the no longer existing falls, the city built an artificial waterfall beside the river in Lucy Park. The recreated falls are 54 ft high and recirculate at 3,500 gallons per minute.
In 1910, Wichita Falls, with a population of 10,000 was located in northwest Texas 114 miles from Ft. Worth, Texas, and within 16 miles of the state line at an altitude of 1,000 feet. It had six railroads with seven outlets and 28 passenger trains daily and was the natural manufacturing, commercial and distributing center of a very rich and rapidly developing trade territory. It had increased in population 400% since 1900 and 1,500 people were added to it during 1909 while a million dollars was spent for new buildings, civic improvements, an electric car line and a lake resort. The city had every modern convenience such as city water, electric lights, natural gas for domestic and manufacturing use, an excellent sewerage system, 50 miles of cement sidewalks, a modern telephone system, fine churches, two national and two state banks and a first class system of schools, both public and private.[2]
A large petroleum reservoir was discovered just west of the city of Burkburnett, a small town in Wichita County in 1912. Burkburnett and its surrounding communities became boomtowns, experiencing explosive growth of their populations and economies. By 1918, an estimated 20,000 new settlers had taken up residence around the lucrative oil field and many Wichita County residents had become wealthy virtually overnight. As people streamed into the local communities in search of high-paying jobs, the nearby city of Wichita Falls began to grow in importance.
Wichita Falls had eight National Banks chartered during the Bank Note Era, and five of those banks issued National Bank Notes.
Bank History
- Organized March 4, 1914
- Chartered May 20, 1914
- Closed May 3, 1920
- Consolidated with 4248 May 3, 1920 (City NB/City NB of Commerce, Wichita Falls, TX)
- Circulation assumed by 4248 (City NB/City NB of Commerce, Wichita Falls, TX)
In January 1914, arrangements were rapidly being completed for the opening of Wichita Falls' new financial institution, the National Bank of Commerce, planned for opening around April 1st. Charles W. Reid was the principal organizer and the expected president of the new bank. The bank would locate that the southwest corner of Eighth Street and Ohio Avenue in the Ward building where it had a ten year lease. Architects were at work on plans to remodel and rearrange the building. "When organization of the bank is completed, said Mr. Reid, "ever dollar of the stock will be owned by Wichita Falls people." The bank's capital stock was $100,000. Mr. Reid was a native of Texarkana, born on the Arkansas side of the line. For many years he was in the lumber business, moving to Muskogee in 1903 to enter the banking business He was president of the First State Bank of Muskogee and vice president of the American National. He was making arrangements to move his family, but had been unable to find a suitable house. The Ward building remodeling would add marble and mahogany fixtures with tiled floor. Those signing the application for organization included J.C. Ward, J.J. Lory, Linn Boyd, J.L. Jackson, and G.D. Anderson, five as required by law.[4] In February, Natt T. Wagner came over from Muskogee to make arrangements to move his family to Wichita Falls. He would become assistant cashier of the new bank.[5] Organization was completed on Saturday, February 21st, when stockholders elected the following directors: Charles W. Reid, J.L. Jackson, J.C. Ward, A.A. Hughes, J.J. Lory, N.T. Wagner, A.W. McCoy, Linn A. Boyd, L.N. Lockridge, Hugh Reilly, and Reese S. Allen. The officers elected were: Charles W. Reid, president; J.L. Jackson, J.C. Ward, A.A. Hughes, and J.J. Lory, vice presidents; and Natt T. Wagner, assistant cashier. The position of cashier had not yet been filled. Mr. Reid and family would occupy the Fields place at the corner of Tenth and Burnett.[6] The public was invited to inspect the new bank equipment and facilities upon opening of the bank on Tuesday, May 26th. Over 98% of the capital stock was owned by resident of Wichita County.[7]
On January 3, 1915, the directors announced a number of changes in officers of the National Bank of Commerce. J.L. Jackson, cashier since the organization, retired from active service and C.W. reid, the president of the bank, succeeded Mr. Jackson as cashier. This arrangement was contemplated at the organization of the bank, Mr. Jackson agreeing to serve only until the first of Januar. Mr. Jackson retained his interest in the bank and would be on the the vice presidents. He planned to re-engage in the real estate business with offices in the bank building on the ground floor and adjoining the banking room. J.J. Lorry succeeded Mr. Reid as president of the bank, but would not be active. Mr. Reid would have active management of the affairs of the institution.[8] On Tuesday, January 12, 1915, the following directors were elected: Phy Taylor, J.C. Ward, J.L. McMahon, Chas. W. Reid, K.E. Bauch, George Musgrave, Hugh Reilly, A.A. Hughes, L.N. Lochridge, J.J. Lory, R.E. Orr, and J.L. Jackson. The officers were J.J. Lory, president; Chas. W. Reid, cashier; A.A. Hughes, J.L. Jackson, and J.C. Ward, vice presidents.[9]
On Saturday, October 28, 1916, at a meeting of the board of directors, Dr. L.F. Stripling who recently purchased a substantial interest in the National Bank of Commerce, was elected a director. Prior to forming a partnership with Dr. C.R. Hartsook, he was engaged in the general practice of medicine at Henrietta, Texas.[10]
In December 1919, a further increase of both capital and surplus was expected after the new year and the move into quarters in the handsome, new 11-story office building at Eighth and Indiana. The capital and surplus had been doubled in July and again in August and stood at $300,000 capital and $200,000 surplus. Mr. Charles E. Basham entered the bank in June and was one of the most widely known bankers in the area having been cashier of the Waggoner National Bank at Vernon for over 20 years. Fred C. Barron who also was an active vice president began his banking career with the First National Bank, steadily advancing through various positions until July 1917 when he came to the National Bank of Commerce as cashier, shortly thereafter becoming vice president. Walter M. Frank had been connected first as a bookkeeper, later as teller and assistant cashier. In 1917 he was named cashier of the National Bank of Commerce.[11]
In January 1920, the directors of the National Bank of Commerce were Leslie Humphrey, W.C. Myers, L.F. Ramming, R.L. Taylor, F.P. Warren, R.A. Furlow, Hugh Reilly, Dr. R.L. Hargrave, M.D. Walker, C.F. Spencer, and S.A.L. Morgan. The officers were J.J. Lory, chairman of the board, C.W. Reid, president; C.E. Basham and Fred C. Barron, active vice presidents; W.M. Frank, cashier; J.L. McMahon, and Dr. L.F. Stripling, vice presidents; H.D. Hemphill and L.E. Mooney, assistant cashiers; and H.S. Davis, auditor. The bank had capital $300,000, surplus $200,000, and resources exceeding $5,600,000.[12]
On Friday, March 12, 1920, consolidation of the City National Bank and the National Bank of Commerce was agreed upon by the directors of the banks. The new institution would be known as the City National Bank of Commerce with J.A. Kemp as president. The organizations of both banks would be taken into the new bank which after consolidation would have capital and surplus of around $2,000,000 and deposits of approximately $20,000,000, making it one of the largest and strongest financial institutions in the state and entire southwest. The bank would have its quarters in the new City National Bank building. Arrangements as to what would become of the banking rooms for the National Bank of Commerce in the Commerce building had not been made, but the property would be administered by the stockholders of the new bank. J.A. Kemp, president of the City National; C.W. Snider, vice president of the City National; and C.W. Reid, president of the National Bank of Commerce would leave for Washington to lay the merger before the comptroller of the currency to obtain the necessary permit.[13] In May, the City National Bank of Commerce opened for business in its new quarters on the corner of Eighth and Scott Streets. It was the largest bank in Texas west of Fort Worth. The officers were J.A. Kemp, president; C.W. Snider, C.W. Reid, W.L Robertson, and C.E. Basham, P.P. Langford, J.T. Harrell, J.J. Lorry, C.H. Clark, J.L. McMahon, R.O. Harvey, L.F. Stripling, and W.N. Maer, vice presidents; R.E. Shepherd, cashier; O.A. Jones, F.C. Barron, J.C. Penrod, H.D. Hemphill, L.B. Jennings, E.A. Showers, L.E. Mooney, and F.A. Foster, assistant cashiers; and H.S. Davis, auditor.[14]
On July 1, 1920, the Wichita Club held its first luncheon in its new quarters in the roof garden of the City National Bank of Commerce building. There was a large attendance although only a part of the furnishings had been installed. Lunch and dinner would be served daily, including Sunday from this time on. President Reid announced that the house rules would not be completed until the following week.[15]
Official Bank Title
1: The National Bank of Commerce of Wichita Falls, TX
Bank Note Types Issued
A total of $674,150 in National Bank Notes was issued by this bank between 1914 and 1920. This consisted of a total of 53,932 notes (53,932 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 1902 Date Back 3x10-20 1 - 2900 1902 Plain Back 3x10-20 2901 - 13483
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1914 - 1920):
Presidents:
Cashiers:
Other Known Bank Note Signers
Bank Note History Links
Sources
- Wichita Falls, 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
- ↑ Wichita Falls Times, Wichita Falls, TX, Fri., Jan. 16, 1920.
- ↑ Wichita Falls Times, Wichita Falls, TX, Thu., Feb. 17, 1910.
- ↑ Wichita Falls Times, Wichita Falls, TX, Tue. May 22, 1917.
- ↑ Wichita Falls Times, Wichita Falls, TX, Thu., Jan. 29, 1914.
- ↑ Wichita Falls Times, Wichita Falls, TX, Wed., Feb. 11, 1914.
- ↑ Wichita Falls Times, Wichita Falls, TX, Sun., Feb. 22, 1914.
- ↑ Wichita Falls Times, Wichita Falls, TX, Sun., May 24, 1914.
- ↑ Wichita Falls Times, Wichita Falls, TX, Sun., Jan. 3, 1915.
- ↑ Wichita Falls Times, Wichita Falls, TX, Wed., Jan. 13, 1915.
- ↑ Wichita Falls Times, Wichita Falls, TX, Sun., Oct. 29, 1916.
- ↑ Wichita Falls Times, Wichita Falls, TX, Wed., Dec. 31, 1919.
- ↑ Wichita Falls Times, Wichita Falls, TX, Fri., Jan. 16, 1920.
- ↑ Wichita Falls Times, Wichita Falls, TX, Fri., Mar. 12, 1920.
- ↑ Wichita Falls Times, Wichita Falls, TX, Wed., May 5, 1920.
- ↑ Wichita Falls Times, Wichita Falls, TX, Thu., July 1, 1920.