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"The Exchange National Bank of Tulsa Oklahoma", Charter No. 9658. Type 2 , VF +. & Very Rare.........

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US National Bank Notes8 of 8Looking for a Brief Education on National Bank Notes 19291902 $20 Alameda 10150
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    Posted 10 years ago

    detellious2
    (8 items)

    "The Exchange National Bank of Tulsa Oklahoma", Charter No. 9658. Type 2 Serial number C002840A. VF +. & Very Rare.............

    Extremely Rare and unknown to Hickman & Oakes or Don Kelly.

    Only Type Ones are listed.

    SEE BANK HISTORY NEXT PAGE

    Exchange National Bank

    The bank represented the pinnacle of Tulsa success in the 1930s oil boom, engaging in international business and maintaining a board of rich and powerful men.

    Unknown to investors, oilmen including Harry Sinclair and J.A. Chapman had been sinking millions of their personal wealth into the bank to keep it open. In 1933, it reorganized as the National Bank of Tulsa with $4 million from the Reconstruction Finance Corp. and an equal amount from stocks and stockholders.

    But within a month, the bank was forced into receivership. The Exchange Trust, a subsidiary of the bank, was to be liquidated. The institutions had lost about $5 million in less than four years.

    A special prosecutor brought charges against 28 of Tulsa's most prominent residents, accusing them of embezzling trust funds from "widows and orphans and helpless incompetents."

    The case was thrown out of court, and the board of directors, who had put about $18 million of their money into the bank to save it, were hailed as heroes by Tulsans.

    The National Bank of Tulsa continued, becoming the state's largest financial institution. It is known today as Bank of Oklahoma.

    SEE BANK OF OKLAHOMA WRITE UP NEXT PAGE

    Corporate History
    ________________________________________
    The Exchange National Bank of Tulsa, Oklahoma
    was organized in 1910, when four young men
    purchased the failed
    Farmers National Bank of Tulsa. Business men
    Eugene Frank Blaise, Charles J. Wrightsman,
    William Connelly, and Harry F. Sinclair became
    the new owners.

    * In 1926, and during the great depression,
    L.R. Kershaw a Muskogee, Oklahoma
    business man became the receiver of 13
    National Banks. These banks had failed because
    of the depression. The Exchange National Bank
    of Tulsa, Oklahoma was one of those banks.

    * June 14, 1933, after the depression, the
    Exchange National Bank of Tulsa merged into
    the National Bank of Tulsa.

    * By 1960 National Bank of Tulsa was known as
    the "oil bank of America," and oil loans were
    instrumental in the rise of the First National
    Bank of Oklahoma as the largest bank in
    the state.

    * February 10, 1992, the National Bank of
    Tulsa changed its name to Bank of Oklahoma,
    National Association.
    NBT (National Bank of Tulsa) Building
    aka Exchange National Bank
    (#80 on site map)
    Location: 320 S. Boston Ave.
    (Downtown)
    Architect: George Winkler
    Completed: 1917, expanded 1929
    Style:
    National Register Listed: No
    The building at 320 S. Boston was originally the home of the Exchange National Bank. Completed in 1917, the building stood ten stories tall and was the largest bank in Oklahoma.
    At right, the Exchange National Bank, looking southwest toward the corner of 3rd and Boston.
    Below, the expanded building viewed from the same perspective.
    Amidst a downtown building frenzy in 1929, the bank was expanded and became known as the National Bank of Tulsa.
    • The top of the tower was designed as a zeppelin mooring.
    • The engraving of the original name is still visible on the building's north side.
    • During the 1960's, colored floodlights were reflected off the tower, with different colors signifying various weather conditions.

    AND THAT”S THE REST OF THE STORY

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    Comments

    1. Dorothy Matchett Starshine, 10 years ago
      My father, Frank Matchett, was a Vice-President of the Exchange National Bank until 1937 when he resigned to buy into the First State Bank of Seagraves, TX. Do you have any record of him? I and three of my children will be in Tulsa briefly the afternoon of Friday, September 10 and I would like for them to know more about him. Would that be possible?
    2. Richard Krebs, 10 years ago
      I have some uncut Sheets of similiar $10 and $20 bills from 1929 from the First National Bank of Appleton Minnesota, that my Uncle as cashier and Grandfather as president signed on the bottom of the bills , just wondering there value? How to sell?
    3. James, 10 years ago
      Richard, in regards to your sheets of currency: In 1929 national banks were issued their first "small size" national bank notes. These sheets contained six notes all with the same serial number. The sheets also had facsimile signatures of the cashier and president of the bank on the notes.

      It was very popular for those officers to keep those first sheets issued with serial number one. We have record that the the first sheet of 1929 5s from that bank was saved. It would not surprise me if you have the first sheet of 10s and 20s.

      Value will depend mostly on condition and serial numbers. If you have serial number one sheets in uncirculated condition then they are worth several thousand dollars each. If they are regular serial numbers, say A000XXXA, then the sheet should still be worth around $2,500+.

      I run the website http://www.rarenationalcurrency.com - I'd love to take a look at your sheets and make an offer to purchase them.

      Thanks

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