Mechanics National Bank (Philadelphia)
| Company type | Private |
|---|---|
| Industry | Banking, Finance |
| Founded | 1809 in Philadelphia, Pennsylvania, United States |
| Defunct | 1903 |
| Fate | Merged with Girard National Bank |
| Headquarters | Philadelphia , United States |
Key people | William Strickland (architect of headquarters), various directors including Rudolph Blankenburg, George H. Boker, Edward H. Coates |
| Products | Banking services for mechanics and manufacturers |
The Mechanics National Bank, established in Philadelphia, was created to cater specifically to mechanics and skilled laborers. Its headquarters, designed in 1836 by architect William Strickland, is located in Philadelphia's Old City district and currently operates as National Mechanics, a bar and dining establishment.
History
By 1809, Philadelphia had emerged as a significant financial hub, yet the existing banks predominantly served merchants rather than mechanics or manufacturers. In response, a collective of artisans founded a bank managed by mechanics for mechanics, instituting bylaws that mandated directors be practicing mechanics and forbade investments tied to mercantile interests. Their business approach was pioneering, as capital was amassed from numerous small investors instead of relying on a handful of large shareholders. The majority of the 14,000 shares were publicly offered at Independence Hall, drawing such high demand that nearly 700 applicants were turned away.
Although financial analysts initially expressed concern about potential speculative risks, the bank rapidly gained momentum. Following legislative changes that curtailed unchartered banking activities, the institution temporarily ceased operations, returned funds to its shareholders, and successfully obtained a formal charter in 1814.
The bank first operated out of a modest three-story brick structure but had outgrown this space by the early 1830s. After experiencing a major burglary and facing security concerns, it expanded into neighboring properties and acquired land across Third Street. The limited site was narrow and bordered by taller adjacent buildings.
William Strickland's building
In 1836, the board approved constructing a dedicated Banking House with a budget of $19,930, commissioning renowned Philadelphia architect William Strickland, famed for his Greek Revival designs and landmark projects such as the Second Bank of the United States. Strickland also maintained professional and personal relationships with several bank directors.
Situated on a narrow lot at 22 S. 3rd St, this structure stands as one of Strickland’s more compact works. The design incorporates robust square pilasters and intricate stone carvings by John Struthers to complement its taller neighbors. The interior primarily featured a spacious main room illuminated by a large skylight, containing a U-shaped mahogany counter for banking operations, with offices separated by wood paneling. The vault and the directors’ room on the second floor were housed in a narrower rear extension.
By November 1837, the building committee lauded the Banking House as unparalleled in both aesthetics and functionality. Nevertheless, disagreements emerged over an additional $3,920 charge from Strickland for design modifications; the bank declined payment—likely due to a $50,000 limit on land and construction costs stipulated in its charter.
Final years
Relocating into Strickland’s building marked an evolution in the bank’s identity. While initially founded by hands-on skilled craftsmen, amendments following the 1814 charter permitted merchants and bankers to join the board. As industrial manufacturing supplanted traditional handicrafts, factory proprietors gradually replaced artisans among leadership. Although maintaining its commitment to supporting manufacturing and Philadelphia mechanics, Mechanics National Bank increasingly catered to employers rather than individual tradesmen.
Documentation ceases around 1900; two years later, the bank reacquired most of its stock and in 1903 dissolved to merge with Girard National Bank. Subsequently, the building served various banking institutions until it was sold during the Great Depression to the Norwegian Seaman's Mission for use as a chapel and community center until 1982. After decades hosting bars such as Club Revival and Coyote Ugly, it was revitalized as National Mechanics—an upscale bar and restaurant paying homage to its banking roots.
The front facade remains faithful to Strickland’s original design, although extensive alterations have been made to rear sections and interior spaces. In 1898, architect James Windrim expanded the vault and directors’ rooms using fireproof methods; later church and commercial occupants further remodeled the interior layout.
Noteworthy Directors and Clients
John Aitken (subscriber), Composer and Music Publisher Originally a silversmith from Scotland, Aitken became a trailblazing music publisher based in Philadelphia. He introduced uniform punches for engraving sheet music, which improved both efficiency and legibility. In 1807, he launched a music retail shop at 76 North Second Street, expanding his enterprise despite limited success as a composer.
Rudolph “Old Dutch Cleanser” Blankenburg (director), Philadelphia Mayor Blankenburg, born in Germany and initially a dry-goods trader, served as mayor from 1911 to 1915. He championed reforms in civil service professionalism and standardized municipal contracts. His administration emphasized effective governance, supported by his wife, the notable suffragist Lucretia Longshore Blankenburg.
George H. Boker (director), Diplomat and Playwright Boker began his career as an attorney before becoming one of the foremost American dramatists and poets of the mid-19th century. He led the Union League during the Civil War and was appointed ambassador to both the Ottoman Empire and Russia by President Grant. His father, Charles S. Boker, also held prominent financial roles, including presidency of Girard Bank during the 1857-8 economic downturn.
Edward H. Coates (director), Pennsylvania Academy of Fine Arts Leader and Art Benefactor As chairman of the Pennsylvania Academy’s Instruction Committee, Coates played a pivotal role in promoting artistic progress by endorsing Thomas Eakins’ directorship and reform initiatives. Although Eakins’ tenure ended controversially, Coates remained influential within Philadelphia’s art circles.
Abner Davis (director), Nail Producer and Prison Administrator Davis represented Philadelphia’s industrial transition by mechanizing nail manufacturing in the late 1700s. Additionally, he oversaw prison labor operations connected to his nail production facility.
William Flintham (director), Merchant and Former Cooper Flintham shifted from barrel-making to engaging in international flaxseed trade with moderate achievements but did not realize significant profits from these activities.
William Gaul (director), Brewer and Malt Producer Belonging to a distinguished brewing family, Gaul operated malt production businesses and constructed an impressive residence on North Broad Street. His lineage continues to hold influence in brewing circles, including ties to Yuengling.
Joseph Gillingham (director), Industrial Innovator and Merchant Collaborating with Josiah White, Gillingham helped establish water-powered nail factories and proposed early water pumping mechanisms for Philadelphia’s reservoir system, contributing to infrastructural development.
Uriah Hunt (director), Educational Publisher A respected Quaker publisher focused on educational titles, Hunt’s company successfully marketed works by popular authors such as Parson Mason Weems to rural audiences.
Jacob Johnson and William Woodward (directors), Publishers of Religious Literature They were pioneers in wholesale and mail-order distribution aimed at western rural communities, leveraging personal connections with merchants and clergy to broaden their market presence.
Philip Justice (director), Manufacturer and Civil War Supplier Justice owned a steel spring factory producing railroad components and introduced steel tires for railcars. During the Civil War era, he manufactured armor plate attachments but encountered legal challenges related to product safety.
Stephen North (director), Pharmacist and Advocate for Education North led local pharmacists in founding an independent College of Apothecaries as a response to encroachment by medical schools, laying the foundation for what evolved into the Philadelphia College of Pharmacy.
George D. Rosengarten (director), Railroad Executive and Chemist Rosengarten expanded a chemical enterprise specializing in quinine production—critical for malaria treatment during the Civil War—while also serving on the board of the Pennsylvania Railroad.
Frederick Lennig (director), Chemical Industry Leader Taking over Tacony Chemical Works, Lennig gained acclaim at the 1876 Centennial Exposition for innovations in wood distillation products and alum manufacturing, advancing industrial chemical processes.
Charles Godfrey Leland (customer, son of director), Folklorist and Poet Leland authored more than fifty publications on folklore and cultural traditions, earning enduring respect among scholars of folk studies through his combined literary and ethnographic work.
Ebenezer Maxwell (director), Victorian Cloth Merchant Maxwell constructed an architecturally notable mansion in Germantown that is now preserved as a museum, symbolizing his prominence within Philadelphia’s mercantile elite.
External links
- Banks headquartered in Pennsylvania
- Banks founded in 1809
- Former banks of the United States
- Banks that closed in 1903
- Defunct Pennsylvania-based companies
- 1809 establishments in Pennsylvania
- Greek Revival style architecture in Pennsylvania
- Historic American Buildings Survey sites in Philadelphia
- American firms founded in 1809
- 1903 closures in Pennsylvania
- American companies established in 1809
- Companies of the United States by year of establishment