Second National Bank, Washington, DC (Charter 2038)
Second National Bank, Washington, DC (Chartered 1872 - Closed (Merger) 1993)
Town History
Washington, D.C., formally the District of Columbia, also known as just Washington or simply D.C., is the capital city and federal district of the United States. It is located on the east bank of the Potomac River, which forms its southwestern and southern border with Virginia, and it shares a land border with Maryland on its other sides. The city was named for George Washington, a Founding Father and the first president of the United States, and the federal district is named after Columbia, a female personification of the nation. As the seat of the U.S. federal government and several international organizations, the city is an important world political capital. It is one of the most visited cities in the U.S. with over 20 million annual visitors as of 2016.
Washington, DC had 29 National Banks chartered during the Bank Note Era, and 25 of those banks issued National Bank Notes.
Bank History
- Organized July 24, 1872
- Chartered September 3, 1872
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Merged into Dominion Bank of Washington in Washington, DC, June 23, 1993
The Second National Bank of Washington, DC, was organized July 24, 1872 and was formally opened on September 11th of that year. The first board of directors was composed of John C. McKelden, James L. Barbour, Thomas L. Tullock, George W. Balloch, W.W. Burdette, G.F. Gulick, Francis H. Smith, Lewis Clephane, Thomas L. Hume, N.B. Furgitt, and John O. Evans. Mr. McKelden was the first president and was succeeded on January 17, 18977, by Matthew G. emery, who held that position for nearly 25 years. Upon his death, W.V. Cox was elected president. The first cashier was D.S. Eaton who was succeeded by H.C. Swain, and he by Cashier John C. Eckloff.
The business was carried on at 631 F Street until its building at 509 Seventh Street, opposite the Post Office Department, one of the first iron front buildings in Washington, was completed. The bank occupied its new building on Monday, April 20, 1874, and for nearly forty years the bank operated from this building. At first only part of it was used, but from time to time in order to meet demands, its quarters were enlarged until the entire first floor was occupied.
"The lot fronts 50 feet on 7th Street, and the northern part runs back 20 feet and the southern 60 feet, all of which was covered by the building. It has an elevated basement 10 feet in height above which the stories run respectively 16, 14, and 13 feet, and above them is the Mansard story, 12 feet. The main entrance leads into a hall of eight feet in which is an iron stairway continuing to the upper stories. The banking room is on the south side of the building and is entered by a massive door. This room is 18 by 55 feet and the floor is tiled. In this is a massive counter with the necessary desks, etc., and in the rear of the room for the directors is partitioned off. In this room is the safe... The front of the building is painted a French grey tint. This, with large windows 5 feet by 13 in which are massive French plate glass in frames and sash, grained in walnut, makes a very handsome show. The carpenters' work was done by Messrs. Baldwin Bros. who had the entire charge of the work; the iron work by Bartlett, Robbins & Co. of Baltimore; the brick work by Z. Jones; plastering by Fenwick & Stewart; plumbing by Shepherd Brothers & Co. and Painting by T.A. Brown. The entire cost of the building was $65,000 and the value of the ground $45,000. The officers were J.C. McKelden, president; J.O. Evans, vice president; T.L. Tullock, Jas. L. Barbour, T.L. Hume, N.B. Fugitt, Lewis Clephane, G.F. Gulick, G.W. Balloch, W.W. Burdette, and F.H. Smith, directors; W.H. Griffith, acting cashier; and Seth A. Terry, bookkeeper. The capital is $300,000."[6]
In 1910 the board decided to remodel the old bank so as to be able to transact increased business. Additional ground was acquired and the first steps were taken towards making the necessary alterations. Mr. Appleton P. Clark, the Washington architect, was selected to study conditions and prepare plans. A contract was awarded to the Samuel J. Prescott Company. The floors of the old banking room were lowered to the street level and a massive granite front erected. Steel construction was substitution in place of heavy brick walls in the interior so as to have the entire banking department in one immense room. To get the best light and ventilation possible, the building was extended to the alley in the rear and prism glass was placed over the entire addition.
A counter in the shape of a "U" built of Italian Breche Opal marble extended about half the length of the building. Artistic bronze fixtures surmounted the counter with plate glass that was separated occasionally by massive columns that extended to the ceiling. The pubic lobby had 1300 square feet of Tennessee marble. A conference room for the public and a ladies' room were provided, both finished in Honduras mahogany with desks, tables and chairs of the same wood. To the right of the entrance there was the office of the president. It was also finished in mahogany with parquetted flooring as were the other rooms. The cashier's office adjoined that of the president. To prevent congestion, the cages of the paying and receiving tellers faced each other on the north and south sides of the lobby. The collection and discount clerks were conveniently located, the bookkeepers occupying the best lighted part of the bank. One of the handsomest departments was the spacious and well-lighted directors' room located at the extreme end of the bank.
Five vaults provided security for the Second National Bank; those in the rear of the banking room were opposite the main entrance. The basement was of steel, brick and concrete construction and therefore fireproof. Here the vaults joined storage for supplies, books and papers that were not in current use. A modern heating plant located in the basement kept the temperature of the bank's quarters up to the proper degree. The blower system collected pure air from the outside, filtering it through cheese-cloth.
The entrance to upper floors of the building from Seventh Street was on the north side of the building. These floors all had been remodeled into splendid offices for rent and were reached by marble steps and a new elevator.
In 1911, the directors were William V. Cox, Walter C. Clephane, Wm. F. Mattingly, Geo. W. Pearson, Simon Wolf, Charles Schneider, James B. Lambie, Somerset R. Waters, Chas. Graff, Bernard M. Bridget, Chas. W. Fairfax, Samuel J. Prescott, Fred S. Smith, Wm. P. Van Wickle, Wm. H. Walker, Nathaniel Wilson, E.O. Whitford, Alexander Wolf, and S.W. Woodward. William V. Cox, president, was born in Ohio, but had lived in Washington most of his life. He served as president of the Board of Trade, the Board of Education, and the Bankers' Association of the District of Columbia. He was a director in the National Savings & Trust Co., vice president of the Washington Market Co. and was identified with other enterprises. He was a member of the Executive Council, Federal Legislative Committee and Currency Commission of the American Bankers' Association. He edited the authoritative souvenir volume on banking presented to the delegates to the Washington meeting of the association.
Walter C. Clephane, vice president, was a well-known lawyer of Washington. He was a lecturer on commercial law in the George Washington University and had published several books, including "The Organization and Management of Business Corporations" and "History of the Government of the District of Columbia." He was a director in the National Savings & Trust Company and other corporations. He was interested in civic affairs and had been prominent in systematizing charities and having corrective and penal institutions conducted on modern lines.
John C. Eckloff, cashier, was a native of Washington and had years of experience in the Revenue Service before entering the field of banking. He was prominent in the work of the clearing house association of the District of Columbia. Jacob Scharf, assistant cashier was born in Bucks County, Pennsylvania. After receiving a common school education, he engaged in real estate until he entered the Second National Bank in 1894. In only three years he had risen to the position of assistant cashier.[7]
On July 16, 1906, Walter W. Burdette, one of the best-known citizens of Washington, who for more than fifty years was identified with the business interests of the city, died at his home, 1026 Vermont avenue northwest. Up to a year ago Mr. Burdette was vice president of the Second National Bank and also a member of the Washington Stock Exchange, when he resigned these positions because of poor health. Mr. Burdette was born in Howard County, Maryland, May 21, 1828, and came to this city when a young man, engaging in the carpet and dry goods business, in which he was most successful. Mr. Burdette was one of the organizers of the Second National Bank and in 1898 he was elected vice president of the bank. He was connected with many financial and charitable institutions and was also prominent as a member of the Geographic, Historical and Red Cross Societies, as well as Associated Charities and the Board of Trade.[8]
On Tuesday, January 12, 1915, the directors elected were Bernard M. Bridget, Walter C. Clephane, William V. Cox, Charles W. Fairfax, Thomas Grant, William M. Hannay, Gen. John A. Johnston, Walter H. Klopfer, William F. Mattingly, Samuel J. Prescott, Cuno H. Rudolph, E.J. Sacks, Joseph P. Stephenson, William B. Thompson, William H. Walker, Somerset R. Waters, Edward O. Whitford, Nathaniel Wilson, Alexander Wolf, and Simon Wolf.[9] Directors met and re-elected officers as follows: Cuno H. Rudolph, president; Walter C. Clephane, vice president; Samuel J. Prescott, vice president; John C. Eckloff, cashier; and Jacob Sharf, assistant cashier.[10]
In January 1924, the directors voted to continue the official family of the Second National Bank. Samuel J. Prescott was chairman of the board and Victor B. Deyber had active charge of the bank's functions as president. Somerset R. Waters, John C. Eckloff, and Jacob Scharf were renamed vice presidents in the order given, and Alexander Wolf was trust officer. W.W. Marlow, cashier, would again be assisted by M.D. Esch and J.K. Seyboth.[11]
In January 1935, the directors re-elected were Edward F. Colladay, V.B. Deyber, Fred Drew, William M. Hannay, Frederick W. Mackenzie, W.W. Marlow, A.H. Plugge, Jacob Scharf, A.J. Somerville, W.R. Winslow, and William B. Wolf.[12] The directors reorganized on Wednesday by re-electing the same officers: Victor B. Deyber, president; William M. Hannay, vice president; Jacob Scharf, executive vice president; Edward F. Colladay, counsel and trust officer; William B. Wolf, assistant trust officer; Walter W. Marlow, cashier; J.K. Seyboth, Frederick S. Beyer, Joseph R. Fitzpatrick, Stuart S. Ogilvie, and Gerald E. Keene, assistant cashiers. William B. Wolf was elected secretary.[13]
On February 2, 1959, the Second National Bank of Washington became the First National Bank of Washington, a change befitting Washington's oldest national bank. Shareholders approved the name change on January 13th. The bank operated two locations at 1333 G Street N.W. and 509 Seventh Street, N.W. The officers were Victor B. Deyber, chairman of the board; John A. Reilly, president; Joseph R. Fitzpatrick, senior vice president and cashier; Stuart S. Ogilvie, senior vice president; Tudor Whiton, Gerald E. Keene, and Donald R. Hollingsworth, vice presidents; Frank A. Miles, Dudley L. Meade, James W. Walden, David K. Folmer, assistant vice presidents; Sylvia Karydakis, Anthony J. Giuffrida, and William T. Swingle, assistant cashiers; and Alexander M. Stewart, auditor. The trust department consisted of Edward F. Colladay, general counsel and trust officer; William B. Wolf, trust officer; and Henry P. Hoffman, vice president.[14]
On Tuesday, January 10, 1961, Morris L. Kraft, president of the Southwest Market Center, Inc., was elected a director of the First National Bank of Washington at the annual stockholders meeting. Mr. Kraft had been a leader in the food business here for a number of years and in addition to his interest in the center, he was identified with United Food Stores and District Hotel Supply Co. He also had been identified with Julian Realty Co. and Carlyle Realty Co. Other directors were re-elected as follows: A. Scott Offutt, president, Earl M. Anderson, Jr., Edward P. Colladay, F. Joseph Donohue, W. Carlton Eacho, Julius Goldstein, Edward T. Harding Barge L. Hartz, Frederick A. Hessick, Arthur C. Houghton, Charles H. Jagels, Karl F. Jorss, Donald F. MacKenzie, Charles H. Pardoe, William C. Shelton, C. Haskell Small, Philip Smith, W.R. Winslow, and William B. Wolf.[15]
On Wednesday, November 11, 1970, The First National Bank of Washington announced a quarter percent reduction in its prime lending rate. It was the first bank in the nation to report such action following a similar cut announced Tuesday by the federal Reserve Board's discount rate. The bank, sixth largest in Washington with about $120 million in deposits, said it was trimming its prime rate to 7 1/4% from 7 1/2%. About $5 million of the $65 million of First National's outstanding loans were made at the prime rate. First National was a member bank of Financial General Bankshares which had 25 banks in seven states and the District of Columbia. A First National spokesperson emphasized that other Financial General banks operated autonomously.[16]
- 12/31/1975 Main Office moved to 15th And H Streets, N.W., Washington, DC 20005.
- 12/31/1975 Acquired Union Trust Company of the District of Columbia (FDIC #12538) in Washington, DC.
- 05/01/1978 Main Office moved to 740 15th Street, N.W., Washington, DC 20005.
- 03/17/1980 Changed Institution Name to First American Bank, National Association.
- 06/23/1993 Merged and became part of Dominion Bank of Washington National Association (FDIC #18839) in Washington, DC.
- 07/22/1993 Changed Institution Name to First Union National Bank of Washington, D.C.
- 07/31/1997 Merged and became part of First Union National Bank (FDIC #4885) in Charlotte, NC.
- 02/26/1998 Merged and became part of First Union National Bank (FDIC #33869) in Charlotte, NC.
- 04/01/2002 Changed Institution Name to Wachovia Bank, National Association.
- 03/20/2010 Merged and became part of Wells Fargo Bank, National Association (FDIC #3511) in Sioux Falls, SD.
Official Bank Title
1: The Second National Bank of Washington, DC
Bank Note Types Issued
A total of $10,068,360 in National Bank Notes was issued by this bank between 1872 and 1935. This consisted of a total of 1,191,902 notes (1,042,828 large size and 149,074 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 - 3000 Original Series 3x10-20 1 - 3600 Series 1875 4x5 1 - 1230 Series 1875 3x10-20 1 - 3719 1882 Brown Back 3x10-20 1 - 21460 1882 Date Back 4x5 1 - 25330 1882 Date Back 3x10-20 1 - 21742 1902 Date Back 4x5 1 - 24300 1902 Date Back 3x10-20 1 - 17980 1902 Plain Back 4x5 24301 - 109865 1902 Plain Back 3x10-20 17981 - 70761 1929 Type 1 6x5 1 - 8902 1929 Type 1 6x10 1 - 4146 1929 Type 1 6x20 1 - 1182 1929 Type 2 5 1 - 34412 1929 Type 2 10 1 - 19960 1929 Type 2 20 1 - 9322
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1872 - 1935):
Presidents:
- John Cox McKelden, 1872-1876
- Matthew G. Emery, 1877-1900
- William Van Zandt Cox, 1901-1913
- Cuno Hugo Rudolph, 1914-1920
- Victor Bernard Deyber, 1921-1935
Cashiers:
- Daniel Lewis Eaton, 1872-1872
- W. H. Griffith, 1873-1873
- Henry C. Swain, 1874-1892
- John C. Eckloff, 1893-1918
- Victor Bernard Deyber, 1919-1920
- Walter William Marlow, 1922-1935
Other Known Bank Note Signers
Bank Note History Links
- Second National Bank, Washington, DC History (NB Lookup)
- District of Columbia Bank Note History (BNH Wiki)
Sources
- Washington, DC, 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. 82, Jan. - June 1911, p. 812.
- ↑ The Bankers' Magazine, Vol. 82, Jan. - June 1911, p. 814.
- ↑ The Bankers' Magazine, Vol. 82, Jan. - June 1911, p. 815.
- ↑ Evening Star, Washington, DC, Fri., Mar. 19, 1915.
- ↑ The Washington Daily News, Washington, DC, Mon., Feb. 16, 1959.
- ↑ Evening Star, Washington, DC, Mon., Apr. 20, 1874.
- ↑ The Bankers' Magazine, Vol. 82, Jan. - June 1911, p. 812-816.
- ↑ Times Herald, Washington, DC, Tue., July 17, 1906.
- ↑ Evening Star, Washington, DC, Tue., Jan. 12, 1915.
- ↑ Evening Star, Washington, DC, Wed., Jan. 13, 1915.
- ↑ Evening Star, Washington, DC, Wed., Jan. 9, 1924.
- ↑ Evening Star, Washington, DC, Tue., Jan. 8, 1935.
- ↑ Evening Star, Washington, DC, Wed., Jan. 9, 1935.
- ↑ The Washington Daily News, Washington, DC, Wed., Feb. 18, 1959.
- ↑ Evening Star, Washington, DC, Tue., Jan. 10, 1961.
- ↑ The News and Advance, Lynchburg, VA, Thu., Nov. 12, 1970.