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National Bank Notes > North Dakota

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Ashley, First NB, W10864
Fr. 606 $5 1902PB
Grade: PMG VF 20 Net    

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This bank, in McIntosh County, was chartered in June 1916 and was placed into receivership on September 13, 1930. This was the only bank located in Ashley and they printed 5,591 large size sheets. One of eight large notes reported and with wonderful pen signatures of Thomas S. Johnstone, President and R.S. Johnstone, Cashier. PMG notes: small tear. Thomas S. Johnstone was born in Scotland, July 29, 1866 and came to America with his family in 1868. In 1901 he was appointed postmaster of Ashley and served in that capacity until 1911, when he and others purchased the Union State Bank, which they reorganized and changed the name to the First National Bank. Truly a family bank, its officers were T.S. Johnstone, president; C.S. Johnstone (his father), vice president; and R.S. Johnstone, cashier. Thomas S. Johnstone was also president of the Merchants National Bank at Mandan, and the German-American Bank of Linton. Ashley is the county seat of McIntosh County; the population was 749 at the 2010 census. During the early 1880s there was a great influx of immigrants from the various countries of western and northern Europe into the area. In 1884, a site for the town of Hoskins was established on the south shore of Lake Hoskins. This new settlement became the town of Ashley in 1888 when its buildings were moved to the present site to be closer to the Soo Line Railroad. The community was named after Railroad executive Ashley Morrow. The post office was established May 4, 1888 with Thomas J. Lamunyon as Postmaster. That year it was made McIntosh county seat, replacing Hoskins. A peak population of 1,423 was reached in 1950.

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