Perkiomen National Bank, East Greenville, PA (Charter 5166)

From Bank Note History
Jump to navigation Jump to search
This should be a contemporary postcard or photo of the bank. (Set Height x300px)

Perkiomen National Bank, East Greenville, PA (Chartered 1899 - Open past 1935)

Town History

Statement of Condition from June 30, 1959.[1]

East Greenville is a borough in Montgomery County, Pennsylvania. It is one of a strip of small towns that run together along Route 29, including Red Hill, Pennsburg, and East Greenville. The borough is part of the Upper Perkiomen School District. The population was 2,951 at the 2010 census. In 1900 the population was 894, growing to 1,749 by 1930.

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 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.

In 1950, Hans and Florence Knoll moved the headquarters of their company Knoll (known for its modern furniture pieces by architects and designers such as Mies van der Rohe, Eero Saarinen, and Harry Bertoia) to the town, where it remains today.

East Greenville had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.

Bank History

  • Organized December 22, 1898
  • Chartered January 3, 1899
  • Bank was Open past 1935

In December 1898, application was made to organize the Perkiomen National Bank with a capital of $50,000 to immediately succeed the Perkiomen Trust Company with practically the same directors and officers with the exception of Dr. John N. Jacobs of Lansdale who served as president for many years and whose efforts the success of the institution was largely indebted. It was partly owning to the desire of Dr. Jacobs to retire from the active management of the trust company that this change was contemplated. A letter addressed to the stockholders of the Perkiomen Trust Company contained a short history beginning with the organization of the original institution in 1874 as the Green Lane National Bank with a paid up capital of $100,000. The institution lasted a little over a year liquidating 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 lasted for three years until its charter expired in 1896 when it became the Perkiomen Trust Company. The other faction started the Farmers National Bank of Pennsburg (Charter 2334) which opened its doors on May 6, 1876.[2] 

The Perkiomen Trust Company was organized with the same stockholders as the national bank, the capital being increased $25,000 which was taken out of the surplus. For the past 12 years the institution paid its stockholders 8% dividends annually and prior to that 6%. A total of $168,000 was distributed in dividends and it was confidently expected that $250,000 would be paid back to the stockholders of the trust company on the original $100,000 investment. Dr. Jacobs was recognized for his financial ability and when in 1890 a vacancy occurred in the presidency of the Montgomery Trust Company of Norristown, he was prevailed upon to accept the position which he did.[3]

The Perkiomen National Bank of East Greenville, Montgomery County, reorganized on December 22, 1898, with the following officers: F.L. Fluck, president; E.E. Erb, cashier; Jacob Kline, Spring Mound; John Boner, Bally; John N. Jacobs, Lansdale; F.L. Fluck, East Greenville; John Weinberger, Spinnerstown; Irwin W. Stetle, Frederick; Michael Kratz, green Lane; Daniel Schultz, Hereford; William A. Walker, Red Hill; V. Shimer, Shimersville; and N.B. Keeley, East Greenville; directors.[4]

Deeds recorded in July 1899 included the banking house, lot, etc., at East Greenville, the Perkiomen National Bank of Pennsburg to the Perkiomen Trust Company, $8,000. The same property, the Perkiomen Trust Company to the Perkiomen National Bank, $5,390.[5]

In September 1911, Gaugler and Heck, electricians were wiring the Perkiomen National Bank for electric lights. Extensive improvements were to begin shortly on the entire interior of the building. The contract was awarded to Mr. Vocht of Allentown.[6] In December the bank received a new Burroughs double adding machine with the latest improvements.[7]

In January 1912, efforts were being made to organize a new national bank at Macungie in Lehigh County. For quite a number of years the Perkiomen National Bank had conducted a branch there, the main bank was located at East Greenville in the neighboring county of Montgomery. This was inconvenient in the opinion of business people who desired quicker service and attention. While there was business to support a small bank, in view of the fact that some thirty years ago the Millerstown Saving Bank met with disaster and the stockholders lost considerable money.[8] Hon. William C. Lichtenwalner was president of the savings bank. Macungie was founded as Millerstown in 1776 by Peter Miller. On November 15, 1857, the village of Millerstown was incorporated as a borough. In 1875, the borough was renamed Macungie to avoid confusion with another town by the same name: Millerstown in Perry County, Pennsylvania. The Macungie Bank, a state-charted institution opened in November 1923 with State Senator H.W. Schantz as president.[9]

Around March 15, 1914, Claude E. Desch was expected to take over as postmaster at Macungie. He planned to rent a suitable room for the post office. He employed his cousin, Miss Mabel Neumoyer as his assistant. She was the only daughter of Adam B. Neumoyer of Neumoyer Bors., plumbers, a graduate of the high school and a popular and capable young lady. Howard L. Hertzog would assist Mr. Desch for a month and break him and the assistant in. Hertzog would continue to act as the local representative of the Perkiomen National Bank. The bank's business was conducted in the front portion of the store with the E.B. Schultz hardware business in the rear.[10]

In January 1919, the stockholders elected the following directors: Dr. John N. Jacobs, Lansdale; F.L. Fluck, East Greenville; Irwin Stetler, Frederick; L.S. Shimer, Shimerville; H.H. Shultz, Clayton; O.H.C. Erdman, Steinberg; V.H. Steckel, Pennsburg; Henry H. Bobb, East Greenville; George M. Welker, Red Hill; J.K. Trumbauer, Spring Mount.[11]

In July 1922, the contract for an addition to the Perkiomen National Bank was awarded to the Ochs Construction Company of Allentown. In addition a new vault would be installed.[12]

In April 1925, martins who make their summer home at the houses provided for them along the eaves of the roof of the Perkiomen National Bank arrived. Warren G. Fluck, teller at the institution had kept a complete record of their migrations. He said the birds made their first appearance on the the same date ten years ago as well as 20 years ago.[13]

The martins, harbingers of Spring arrived at their summer headquarters at the Perkiomen National Bank on April 11, 1930, 10 days earlier than last year.[14] On Thursday, June 5, 1930, Elmer E. Erb was elected president of the Perkiomen National Bank at a meeting of the board of directors. Warren G. Fluck was elected cashier at the same meeting. Mr. Erb was chosen to fill the vacancy caused by the recent death of Frank L. Fluck. Mr. Erb had been connected with the bank since 1892. In 1899 he was named cashier. Mr. Fluck, a son of the late Frank L. Fluck, had been identified with the bank for 26 years.[15]

In January 1958, Warren G. Fluck was re-elected president of the Perkiomen National Bank, East Greenville. Other officers re-elected were O.H.C. Erdman and R.B. Erb, vice presidents; S.M. Rothenberger, cashier and R.K. Strong, assistant cashier.[16] Stockholders elected Dr. J.A. Klotz to the board of directors to succeed the late R.H. Shaner. Re-elected were W.G. Fluck, H.W. Shimer, H. Hasson, O.H.C. Erdman, W.R. Stauffer, J.A. Scholl, D.C. Rems, A.G. Kriebel, and P.S. Spaar.[17]

In June 1959, Russell B. Erb of East Greenville was named president of the Perkiomen National Bank. Erb, who had been vice president, succeeded the late Warren G. Fluck, president for 26 years until is death on May 2d.[18]

In January 1961, the bank was now the Perkiomen Office of the Industrial Trust Company of Philadelphia. The officers were R.B. Erb, president; O.H.C. Erdman, vice president; F.M. Rothenberger, vice president and cashier; R.K. Strong and H.M. Bartholomew, assistant cashiers. The directors were R.B. Erb, O.H.C. Erdman, H.W. Shimer, W.R. Stauffer, J.A. Scholl, D.C. Rems, P.S. Spaar, A.G. Kriebel, Dr. J.A. Klotz, and A.R. Keely.[19] The merger with the Industrial Trust Company was completed December 30th, 1960.[20]

Official Bank Title

1: The Perkiomen National Bank of East Greenville, PA

Bank Note Types Issued

1882 Date Back $20 bank note with pen signatures of E.E. Erb, Cashier and F.L. Fluck, President. Courtesy of Heritage Auctions. www.ha.com
1902 Plain Back $10 bank note with stamped signatures of E.E. Erb, Cashier and F.L. Fluck, President. Courtesy of Heritage Auctions. www.ha.com
1929 Type 1 $20 bank note with printed signatures of W.G. Fluck, Cashier and E.E. Erb, President. Courtesy of Heritage Auctions, www.ha.com
1929 Type 2 $10 bank note with printed signatures of F.M. Rothenberger, Cashier and and W.G. Fluck, President. Courtesy of Heritage Auctions, www.ha.com

A total of $968,280 in National Bank Notes was issued by this bank between 1899 and 1935. This consisted of a total of 78,050 notes (64,576 large size and 13,474 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 - 3190
1882 Date Back 3x10-20 1 - 4140
1882 Value Back 3x10-20 4141 - 5457
1902 Plain Back 3x10-20 1 - 7497
1929 Type 1 6x10 1 - 1430
1929 Type 1 6x20 1 - 382
1929 Type 2 10 1 - 2260
1929 Type 2 20 1 - 342

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1899 - 1935):

Presidents:

Cashiers:

Other Known Bank Note Signers

  • No other known bank note signers for this bank

Bank Note History Links

Sources

  • East Greenville, 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
  1. ↑ The Mercury, Pottstown, PA, Wed., July 8, 1959.
  2. ↑ The Morning Call, Allentown, PA, Sat., Mar. 27, 1926.
  3. ↑ The Reporter, Lansdale, PA, Thu., Dec. 15, 1898.
  4. ↑ The Allentown Leader, Allentown, PA, Tue., Dec. 27, 1898.
  5. ↑ The Reporter, Lansdale, PA, Thu., July 27, 1899.
  6. ↑ The Morning Call, Allentown, PA, Tue., Sep. 19, 1911.
  7. ↑ The Morning Call, Allentown, PA, Mon., Dec. 11, 1911.
  8. ↑ The Morning Call, Allentown, PA, Wed., Jan. 24, 1912.
  9. ↑ The Morning Call, Allentown, PA, Sat., Nov. 3, 1923.
  10. ↑ The Allentown Democrat, Allentown, PA, Tue., Mar. 3, 1914.
  11. ↑ The Philadelphia Inquirer, Philadelphia, PA, Sat., Jan. 25, 1919.
  12. ↑ North Penn Review, Lansdale, PA, Tue., July 11, 1922.
  13. ↑ The Morning Call, Allentown, PA, Fri., Apr. 10, 1925.
  14. ↑ The Morning Call, Allentown, PA, Tue., Apr. 15, 1930.
  15. ↑ The Morning Call, Allentown, PA, Sun., June 8, 1930.
  16. ↑ The Morning Call, Allentown, PA, Fri., Jan. 17, 1958.
  17. ↑ The Morning Call, Allentown, PA, Fri., Jan. 17, 1958.Wed., Jan. 15, 1958.
  18. ↑ The Morning Call, Allentown, PA, Mon., June 22, 1959.
  19. ↑ The Mercury, Pottstown, PA, Tue., Jan. 10, 1961.
  20. ↑ Philadelphia Daily News, Philadelphia, PA, Wed., Jan. 18, 1961.
Retrieved from "https://banknotehistory.mywikis.wiki/w/index.php?title=Perkiomen_National_Bank,_East_Greenville,_PA_(Charter_5166)&oldid=57375"