PA State Archives Hours, Directions, & Fees Research Topics Finding Aids for Collections Land Records

 

 

 



Pennsylvania State Archives

RG-18
Records of the LOAN AND TRANSFER AGENT



The Office of Loan and Transfer Agent, created specifically to record and issue state bonds, originated in legislation passed in 1828 authorizing the appointment of the President of the Bank of Pennsylvania, or some other appropriate person, to serve as Commissioner of Loans. In 1830 the duties of the Commissioner were vested in the Bank of Pennsylvania, and in 1835 the Auditor General was required to turn over to the bank all books pertaining to the stock loans of the Commonwealth. It became the responsibility of the bank to keep a record of all transfers and to provide the Auditor General with an annual accounting of bonds and bondholders. In 1858 the records and functions of the Loan and Transfer Agent were transferred to the Farmers' and Mechanics' Bank of Philadelphia. The Philadelphia National Bank absorbed this bank in 1919 and was also designated Loan and Transfer Agent of the Commonwealth. In 1953 every banking institution of the state and every national banking association having its main offices in the state, with a certain combined capital and surplus, was appointed as an additional loan and transfer agent.


PA State Archives Hours, Directions, & Fees Research Topics Finding Aids for Collections Land Records