National Bank of the Northern Liberties, Philadelphia, PA (Charter 541)

Photo of the National Bank of the Northern Liberties at Third and Vine Streets, Philadelphia, ca1960s. Courtesy of the Historic American Buildings Survey and the Library of Congress, Photograph Retrieved from the Library of Congress, https://www.loc.gov/item/pa1328/.

National Bank of the Northern Liberties, Philadelphia, PA (Chartered 1864 - Liquidated 1916)

Town History

Bank of the Northern Liberties, Haxby PA-470 $500 Proof. The vignette at right depicts several women, one of whom is painting a portrait of William Penn. Courtesy of Heritage Auctions, www.ha.com

Northern Liberties is a neighborhood in Philadelphia, Pennsylvania. Prior to its incorporation into Philadelphia in 1854, it was among the top 10 largest cities in the U.S. in every census from 1790 to 1850.

Northern Liberties is located north of Center City (specifically, Old City) and is bordered by Girard Avenue to the north; Callowhill Street to the south; North 6th Street to the west; and the Delaware River to the east (from Callowhill Street to Laurel Street; from Laurel Street to Girard Avenue the eastern boundary is North Front Street).

The historical boundaries were slightly different, with Vine Street as the southern border and the Cohocksink Creek serving as the northern border. The creek now flows as a storm sewer under the following streets (starting at the Delaware River and running from southeast to northwest): Canal, Laurel, Bodine, Cambridge, and Orkney Streets.

Early in its history, the location just outside Philadelphia allowed the area to thrive in manufacturing, as mills, breweries, leather tanneries, paints and chemical works, tool making factories, and iron and stove foundries once lined the neighborhood. It also holds the status as a famous red-light district in the United States. Prior to annexation, the township was created as a less densely populated alternative to nearby Philadelphia.

Philadelphia had 70 National Banks chartered during the Bank Note Era, and 62 of those banks issued National Bank Notes.

Bank History

Organized October 20, 1864
Chartered October 22, 1864
Succeeded Bank of the Northern Liberties
Liquidated March 6, 1916
Consolidated with 602 which assumed its circulation (Bank of North America, Philadelphia, PA)

In February 1810, the Pittsburgh Weekly Gazette reported, "the rage for banking has risen to an unexampled height in the eastern parts of this state. In the city of Philadelphia two new banks, the Mechanics Bank, and the Commercial Bank, have gone into operation, and books are opened for subscriptions to the Bank of the Northern Liberties. There is also the " Farmers Bank" at Lancaster, a new bank at York, one at Chambersburgh, and one in motion at Harrisburgh."

On Saturday, March 8, 1814, the banking bill finally passed both branches of the Legislatures and only required the Governor's signature. The Mechanics bank, the Commercial bank and the bank of the Northern Liberties, in the city and county of Philadelphia, the Farmers bank of Lancaster and York Bank, the Chambersburgh bank, and the Pittsburgh Manufacturing Company were permitted to continue their operations. The act set the par value of stock at $50 and limited the Bank of the Northern Liberties to 10,000 shares and set the number of directors to 15. The act repealed that passed on March 19, 1810. The Bank of the Northern Liberties received its state charter on May 9th, 1814.

In November 1862, the stockholders elected the following 15 gentlemen directors: Isaac Koons, William H. Hart, Jos. B. Myers, Joshua Lippincott, Jos. W. Miller, Jos. Baker, George Mecke, Nathan L. Keyser, William S. Grant, Israel Peterson, Charles Koons, Edwin H. Fitler, Chas. M. Kirkpatrick, Henry M. Stone, and Michael Baker. On the 18th, the board unanimously re-elected Isaac Koons, Esq., president, and William Gummere, cashier.

January 1865, the directors were: Joseph Moore, Joseph B. Myers, Charles J. Sutter, Edwin H. Fitler, Joshua Lippincott, Joseph W. Miller, Joseph Baker, James N. Stone, Michael Baker, Israel Peterson, William Overington, Alexander M. Fox, and Jacob Riegel.

Portrait of Joseph Moore, Jr., president, National Bank of the Northern Liberties, Philadelphia

On June 22, 1865, Samuel W. Caldwell, Esq., formerly cashier of the Bank of the Northern Liberties died. He entered the bank at its organization in 1814 as receiving teller, occupying that position and afterwards that of paying teller until 1839 when he was appointed cashier. He resigned in 1855 due to advancing years and ill health. The board granted him a retiring allowance which, though tied with no official duties, left him at liberty to render valuable assistance to the institution. He thus continued until his death in almost daily intercourse with his old associates at the bank.

On January 8, 1890, the following gentlemen were elected directors: William Gummere, Edwin H. Fitler, James N. Stone, Alexander M. Fox, Andrew H. Miller, Joseph Moore, Jr., John S. Wood, Eben C. Jayne, Wm. S. Taylor, Jos. A. Bremer, Alfred F. Moore, James C. Collins, and Edward I. Smith. On the 10th the directors elected Mr. Joseph Moore Jr. president of the bank, Wm. Gummere having declined a re-election on account of advancing years.

In 1912, Antoine Bournonville was elected a director and Joseph Moore, Jr., president of the bank, became vice president of the County Fire Insurance Co. He took the place of his brother, the late Alfred Fitler Moore whom Mr. Bournonville succeeded in the directorate of the bank.

On February 6, 1916, it became known that the National Bank of Northern Liberties would be absorbed by the Bank of North America. Joseph Moore, Jr., president of the former institution would go into the directorate of the latter bank. Other changes among officials included E.S. Kromer, cashier of the Bank of Northern Liberties, who became cashier of the Bank of North America, succeeding S.D Jordan, who became vice president of the Bank of North America. C.A. McIlhenney, an assistant cashier of the Bank of Northern Liberties, retained his position in the new institution. On March 6, stockholders at the special meeting voted unanimously in favor of the resolution authorizing the directors to voluntarily liquidate the institution and sell the assets to the Bank of North America.

The two-story stone banking building and the three-story stone house at the northwest corner of Third and Vine Streets was conveyed to the Bank of North America by the National Bank of Northern Liberties for a nominal consideration, subject to a ground rent of $30. The banking building occupied a lot 38 feet by an irregular line and the house with a front on Third Street, occupied a lot 18 by 75 feet. The properties were assessed at a total of $70,000. They were owned by the National Bank of Northern Liberties since 1870. The properties were sold in August to Edwin R. Mack and others at a sales price of $33,000.

Official Bank Title(s)

1: The National Bank of the Northern Liberties, Philadelphia, PA

Bank Note Types Issued

1902 Date Back $5 bank note with printed signatures of E.S. Kromer, Cashier and J. Moore, Jr., President. Courtesy of Heritage Auctions, www.ha.com

A total of $3,102,000 in National Bank Notes was issued by this bank between 1864 and 1916. This consisted of a total of 263,250 notes (263,250 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	4x5	1 - 6400
Original Series	3x10-20	1 - 7760
Original Series	50-100	1 - 1800
Series 1875	4x5	1 - 4000
Series 1875	3x10-20	1 - 11800
Series 1875	50-100	1 - 79
1882 Brown Back	50-100	1 - 2600
1902 Red Seal	50-100	1 - 660
1902 Date Back	4x5	1 - 19400
1902 Date Back	3x10-20	1 - 13631
1902 Date Back	50-100	1 - 504

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1864 - 1916):

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

Library of Congress, Historic American Buildings Survey with three images of the National Bank of Northern Liberties at Third and Vine Streets, Philadelphia.
Philadelphia, 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 Bankers' Magazine, Vol. 20, July 1865-June 1866, p. 182.
The Bankers' Magazine, Vol. 85, July 1912-Dec. 1912, p. 763.
Pittsburgh Weekly Gazette, Pittsburgh, PA, Fri., Feb. 23, 1810.
The Gleaner, Wilkes-Barre, PA, Fri., Mar. 25, 1814.
Carlisle Weekly Herald, Carlisle, PA, Fri., Dec. 30, 1814.
The Philadelphia Inquirer, Philadelphia, PA, Wed., Nov. 19, 1862.
The Philadelphia Inquirer, Philadelphia, PA, Thu., Jan. 12, 1865.
The Philadelphia Inquirer, Philadelphia, PA, Sun., Feb. 6, 1916.
The Philadelphia Inquirer, Philadelphia, PA, Tue., Mar. 7, 1916.
The Philadelphia Inquirer, Philadelphia, PA, Tue., Apr. 18, 1916.