Description

TYPE-1 1929 Series Twenty Dollar THE LAMBERTON NATIONAL BANK OF FRANKLIN, PENNSYLVANIA. SERIAL A000368

CHARTER #5221

A merchant in Franklin by the name of Robert Lamberton bought a safe in 1859. Since he had what was considered to be the only secure safe in the area, Lamberton received many requests from local residents to store their cash and valuables. The Lamberton Savings bank was established in 1860 by Robert Lamberton under the name of R. Lamberton, Banker. In 1872 the name was changed to the Lamberton Savings Bank, having been purchased by a son, R.G. Lamberton, C.W. Gilfillan and R.L. Cochran. In 1883, W.J. Lamberton and Harry Lamberton purchased the Cochran interest and the bank continued to do business until 1899 when it was reorganized into the Lamberton National Bank.

In May 1899, the Comptroller of the Currency, Dawes, authorized the organization of the Lamberton National Bank of Franklin, Pennsylvania, with capital stock of $1,000,000. The organizers were C.W. Gilfillan, Robert G. Lamberton, Lewis T. Lamberton, Harry Lmaberton and William L. Gilfillan and they were changing the Lamberton Savings Bank to a national bank. The charter was granted on October 9, 1899 and the officers were C.W. Gilfillan, president; Harry Lamberton, vice president; W.L. Gilfillan, cashier; and Fred C. McGill, assistant cashier. W.L. Gilfillan was for several years assistant cashier of the Austin National Bank in Texas, but left that place to accept the position in the Lamberton National Bank.

One of the #80 small size known in the census for this Venango County Bank. #33 Large Size

We graded this example as very fine, problem-free, and just circulated. It comes from the top  Plate #A of one of the Type One printed sheets. Not a bad example.

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