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Overview

After the devastating Seattle Fire of 06/06/1889, the Merchants' National Bank rebuilt a new location on the spot of the old.

Building History

Angus Mackintosh (1839-1904) opened this seven-story office building for his Merchants' National Bank soon after the Seattle Fire of 06/06/1889; he operated it until 1895, when he it failed during the economic contraction caused by the Depression of 1893. In 1899, it was the first and only bank to have failed in Seattle. (See“In Mackintosh’s Favor,” Seattle Times, 07/26/1899, p. 10.)

In 1900, the bank building stood on 1st Avenue next to the Gordon Hardware Company Building, Kline-Rosenberg Building and Starr-Boyd Building. Use of the basement vault continued after the bank vacated.

Dr. Lawrence Sherman owned the Safe Deposit Building in 1954, the year of the heist. He leased the basement vault space to Frank J. Goodman, who operated it as Pioneer Safe Deposit Vaults. Reliance Overseas , Incorporated, bought the Safe Deposit Building and rechristened it the "Reliance Building" in 1956. The Penthouse Tavern, a bar and jazz hang-out operated in the Reliance Building in the 1950s. (See Daryl C. McClary, HistoryLink.org, “Thieves burglarize Pioneer Safe Deposit Vaults in Seattle over the three-day Washington's Birthday weekend that begins on February 20, 1954,” published 03/07/2007, accessed 09/27/2020.)

Building Notes

The Pioneer Safe Deposit Vault was originally located in the Merchants National Bank Office Building #1, which perished in the Great Seattle Fire of 1889; the vault was reused in the basement of the Merchant’s National Bank Office Building #2.

On the holiday weekend of 02/20-22/1954, the largest unsolved bank heist in Seattle history occurred when thieves broke into the Pioneer Safe Deposit Vaults and stole between $200,000-$500,000 worth of cash primarily, although some negotiable stocks and bonds were also taken. A previous attempt in 1919 to break into the vault failed. In the early 20th century, the Clemmer Family, which owned the Kenneth Hotel in the Seattle Safe Deposit Building, operated the Dream Theatre on the building's first floor. (See Daryl C. McClary, HistoryLink.org, “Thieves burglarize Pioneer Safe Deposit Vaults in Seattle over the three-day Washington's Birthday weekend that begins on February 20, 1954,” published 03/07/2007, accessed 09/27/2020.)

In 1900, Joseph A. Sloan, Boat Builder, occupied Room #69 in the Safe Deposit Building. In later years, the building was known as the Kenneth Hotel and the Reliance Building.

Demolished. The Safe Deposit Building #2 and neighboring buildings were torn down to make way for a 10-story parking garage in 1968.

PCAD id: 14732