Pacific National Bank of Los Angeles stock certificate circa 1923 (California)

Depression Era bank stock certificate!  Elaborate vignette of the what appears to be the company seal in front of waterfront and city scenes.  Very clean. Unissued and not cancelled. Circa 1923 from company records but liquidated in 1930. Measures approximately 12 x 8.5 inches.

The Pacific National Bank of Los Angeles (charter 12454 to issue currency) was organized by Anthony Frederick Swensen in 1923., opening with a capital of one million dollars and surplus of two hundred thousand dollars. The stock sold for one hundred and twenty dollars per share. The institution conducted business at 652 South Olive St in Los Angeles until May 1, 1926 when the offices were moved to Ninth and Hill streets.

In early 1929, Morrissey, president of the Pacific National Bank of Los Angeles, announced that he and six directors of the bank have resigned amid heavy losses.

In 1930, The Pacific National Bank of Los Angeles was absorbed due to liquidation by Bank of Italy National Trust and Savings Association, San Francisco, Calif., and the Bank of America of California, Los Angeles.

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