4-64 s fik-sliWAN=A1VdpIt, ..... ,,tot,
VOL. XXXVII No. 1
WHOLE No. 193
, - -
THE STATE OF FLORIDA
DOLLARS. - Gs(>
///,, • 1
IN til*LID 31
What's The Best Way
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IN THIS ISSUE
JOHN DAVENPORT AND HIS MERCHANT SCRIP
A SURVEY OF THE BANK OF LATVIA BANK NOTES DURING THE 1920S
TI-IE CT-9 CONFEDERATE COUNTERFEIT: A MYSTERY SOLVED
George B. Tremmel 13
TERRE HAUTE, ALTON & ST. LOUIS RAILROAD BEARER NOTES
Larry D. McNabb 15
THE PAPER COLUMN
DO PEOPLE LOOK AT YOU STRANGELY?
Peter Huntoon 18
Forrest W. Daniel 19
G LASS PO RT, PENNSYLVANIA DISCOVERY
Eric Vicker 20
CORRECTIONS TO "NONE OUTSTANDING ALL REDEEMED"
Bob Cochran 21
THE GOOD OL' DAYS
Bob Cochran 22
ABOUT TEXAS MOSTLY
Frank Clark 23
THE BUCK STARTS HERE
Gene Hessler 24
WHAT THE DEUCE!
Charles A. Dean and Don C .Kelly 25
THE PRESIDENTS COLUMN 30
ANNUAL FINANCIAL STATEMENT 30
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BUYING and SELLING
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PCDA CHARTER MBR.
P.O. Box 761, Camden, SC 29020 (803) 432-8500
Paper Money Whole No. 193
THE fubfctiber molt refpeafully in-forms the public, that by the foli-
citation of a number of his friends he has
opened a TAVERN, by the name of
THE ARK TAVERN, at No. 6, ;luck-
Street. His houfe has been for a number
of years a convenient retort for traders
and gentlemen from the country ; he
pledges hi mfel f to lack no exertion to ren-
der it at leaft as agreeable to that, and
every defcription of cufloiners, as it has
heretofore proved,' and promifes the tra-
veller, that while every means of refrefh-
ment and repofe will be offered him in
the bottle, every attention in the ftable
(hall be (hewn his wearied beaft. To
thole who have frequented his houfe he
flatters ,himfelf it is only neceffary to of-
fer a continuance of the fame diligent ef-
fort to pleafe ; to thole who have the ex-
periment yet to make, he can only add
the fcriptural exhortation, "tape and fee."
N. B. His bills than always be as
moderate as the price of provilions will
admit, and the fmalleft favour acknow-
ledged with gratitude.
At the above houfe, a maid fervant, who
is able and willing to do the menial work
of the fame.
Portfmouth, Feb. 9, 1795.
Paper Money Whole No. 193
Phil Davellport Zd Merchant Scrip
by KEVIN LAFOND
HE recent discovery of an early New Hampshire mer-
chant-issued note poses the questions who issued it
and why? After considerable research the issuer has
been identified as Portsmouth patriot, silversmith, and inn-
keeper John Davenport.
To tie the note to John Davenport, the address indicated on
the note, No. 6 Buck Street, had to be investigated. Buck Street
acquired its name by public consent in late July 1776. When
the Declaration of Independence was publicly read in Ports-
mouth by Sheriff John Parker from the State House balcony,
Captain Thomas Manning boldly yelled from the crowd the
suggestion that Queen Street be renamed Buck Street and King
Street become Congress Street.' The patriotic crowd jubilantly
agreed. Buck Street remained a name on the maps until 1813.
Three days before Christmas that year one of the most devas-
tating fires to ravage Portsmouth destroyed every building on
Buck Street. The following year the town fathers widened the
one lane street by using the time-honored technique of emi-
nent domain, and renamed the thoroughfare State Street. Since
street numbers were not widely used in Portsmouth until the
1830s, we must ask who was located at No. 6 Buck Street? The
answer came in the form of an advertisement in the local pa-
per. On February 9, 1795 John Davenport renamed his tavern
at No. 6 Buck Street the Ark Tavern. 2
John Davenport (1752-1842), born in Boston, was the
youngest son of Bostonian James Davenport (1693-1759) and
his third wife, Portsmouth-born Mary Walker. 3 The senior
Davenport prospered sufficiently as an innkeeper and baker
to support his tribe of twenty-two children. John Davenport
didn't have long to get acquainted with his father, though, for
the patriarch died when the lad was only six years old. One
must assume that Mary continued the Davenport tavern in
order to support the family, which probably numbered about
nine members in 1759. Nevertheless, by the mid-1760s the
young John Davenport had moved to Portsmouth, presum-
ably to live with one of Mary Davenport's relatives.
Like most teenagers, John Davenport would have been seek-
ing excitement. The British Parliament and rebellious colonies
were not going to disappoint him. Local merchant George
Meserve was appointed agent for distributing stamps in New
Hampshire in 1765. Upon the arrival of Meserve's commis-
sion in 1766 John Davenport, Thomas Manning, and George
Gains led the Sons of Liberty to the agent's house on Cross
Street (later Vaughn Street). The loose-knit rabble coerced and
intimidated Meserve into relinquishing his stamp master's
commission. The Sons of Liberty, still led by the rebellious
trio, marched with the document displayed on the end of a
sword through the town's streets. The procession ended at
Swing Bridge on Water Street where they erected a flag pole
and plaque proclaiming "liberty, property, and no stamp."
Thereafter, the bridge was renamed Liberty Bridge.'
During the ensuing years Davenport actively participated in
the rebellion against British rule. In late 1775 and early 1776
he served in a field artillery company, first under the corn-
Advertisement naming the Ark Tavern.
mand of physician Hall Jackson and then under Captain George
Turner,' In March 1776 the Continental Congress instructed
the States to prepare a document, the Association Test, indi-
cating who would oppose the British actions against the colo-
nies. 6 Later, on April 12, 1776, Davenport signed the
Association Test administered by the local committee of safety.'
Prior to the above events, the attack on Fort William & Mary
had occurred on December 14 and 15, 1774. In this action,
which many consider to be the first overt act of aggression
against British rule, local patriots attacked the fort, seizing can-
non, small arms, and one hundred barrels of gunpowder. 8
Today, historians can only speculate if the patriotic Daven-
port also participated in the raids on Fort William and Mary.
For obvious reasons, however, the names of most of the par-
ticipants were never recorded.
Stabling for Horfes,
AY be procured of the Sub-
fcriber in ARK LANE—his terms are
Moderate, an'd may he knoWn by applying at
his HOUSE in BUCK-STREET, oppofite
Mr. Stanwood's Shop—where he is provided
with the bell accommodations for BOARD-
ING and LODGING, having lately made
confiderable alterations and additions in his
Houk for that purptofehis Friends and others
from whom he has hitherto' recrived encourag-
mcnt, are requefled to accept his thanks for pall
favours, and he hopes for the continuance of
them.—At his Houk, the weary traveller will
find refl, and filch attendance as cannot fail to.
pleafe,-1;:sCellar he flatters himfelf, will gene-
rally be furnifhed with good Liquors, and his
Larder with the belt provilions—Thofe . who
are difpofed to fecund his views, and honour
him with their company, mu depend on his
endeavours to give the utmoft fatisfaCtion, -and
their favours gratefully acknowledged.
Portfinouth, 0,cler i2 , 1793.
Paper Money Whole No. 193
Early in the revolution the Colony of New Hampshire passed
laws controlling prices and prohibiting exporting goods. Dur-
ing July 1777 the civic-minded Davenport served on the local
committee that recorded the quantities of goods in town and
set prices. 9
OHN DA VENPOR
Goiclinuth and Jeweller,
HEREBY-informs the Public, that he tar-
ries on his Bufinefs at his Shop near Liberty
tridge, almofl oppofite Mr, Yolkua Went -.
worih'rStore : Thole who pleafe to favor
him with -their Cullom may depend upon
having their Work done at a reafonable
Rate, and the fmallefl Favors greatfully ac-
knowledged, by their, humble Servant
Advertisement for Davenport's business.
To earn a living Davenport operated a goldsmith and jew-
elry business on Water Street "near Liberty Bridge, almost op-
posite Mr. Joshua Wentworth's Store."' ° One must wonder if
it is ironic or prophetic that the business was located at the
symbolic heart of Davenport's early rebellious activity. Dav-
enport practiced his trade for the next twenty-plus years at three
different locations. After the stint on Water Street near Liberty
Bridge Davenport advertised his business on lower Queen
Street, near the waterfront, and finally on upper Buck Street at
the corner of Ark Street. While located on Water Street the shop
was burglarized, with many silver articles and five gallons of
rum stolen. 11 A ten-dollar reward was offered to whoever
brought the thief to justice. Whether justice was administered
has been lost in the dust of the past. At the Queen Street loca-
tion Davenport advertised "china-mending" in addition to the
goldsmith/silversmith business." On October 6, 1792 Dav-
enport purchased a building at the corner of Buck and Ark
Streets from Jonathan Warner for £450. The building had pre-
viously been the residence of James Sheafe. Davenport con-
ducted his silversmith activity in a small ell added to the
building. By this time Davenport specialized in silver shoe
buckles in partnership with his brother-in-law. Unfortunately,
for them, shoe buckles were being phased out by the use of
Stop Thief( io Dollars Reward)
To any Perfon or Perfons
Fr h; lha/1 di'covor and bring to 7so./2ict the THIEF sr
Thieves rubs broke open !hi Shop of the Subfcriber, so
the Night after the t 2th Infiant, and tool from thence
tbr ,viz: fix Pair of Stone Batumi,
tau, die. Rings, one lit. LoLket, one largo Spore, one
Steck Buckle, ens Gold Breech, two Silator die. —Some
o.'d Sil•or, a Paper of melted Buckles, :broe pair of
Piachback dit.. two Boxes o 1 Spethclse, a _Quantify
Glafs Buttons— Sundry //mall Article, — About 5 Gallon,
RUM,—anijemt Ca/h. JOHN DAVENPORT.
PortIniuth, Odob. 13, 1 774
Announcement of burglary and reward.
laces. Davenport needed another livelihood. Regrettably, to-
day no examples of Davenport's handiwork are known to
When his silversmith's career waned Davenport returned to
his roots and opened a tavern." The recently acquired Buck
Street residence was remodeled and expanded to accommo-
date the new business. The tavern provided boarding and lodg-
ing for guests, stabling for their horses, and a good selection
of liquors. In February 1795 the establishment was renamed
"The Ark Tavern," 1 4 for Ark Street,' 5 and was adorned with a
colorful sign embellished with a picture of Noah's Ark. The
tavern attracted "traders and gentlemen from the country" for
patrons, many of whom frequented Portsmouth to attend the
general court. Even tickets to the local shows of a traveling
circus could be purchased at the tavern. 16 The popular tavern
also became a frequent meeting place for St. John's Masonic
Lodge. This activity was probably generated, in no small part,
by Davenport's extensive Masonic activity. Davenport joined
St. John's Lodge on January 10, 1797, served the lodge as trea-
surer 1811-1813, Grand Treasurer for New Hampshire 1813-
1816, Master of St. John's Lodge 1815-1816, and treasurer of
St. John's again 1817-1821. On March 6, 1822 Davenport
officially retired from St. John's Lodge due to age but, never-
theless, continued to participate in Masonic activities until his
death, twenty years later.
One constant throughout time has been change. Change
overtook the Ark Tavern in the form of fire on the evening of
December 22, 1813. The conflagration started around 7:30
p.m. in a barn at the corner of Court and Church Streets. By
11:00 p.m. Davenport's tavern, three blocks away, was in
flames, along with most of the other buildings on Buck Street.
Advertisement for the opening of Davenport's first tavern.
MASON'S ARMS ,
IFIHE Subfcriber begs leave to inform his friends
1 and the public in general, that' being obliged
to leave his former commodious fituation, in Buck-
fireet, in conftquence of the late diftreffing con-
flagration, he has recently taken\that elegant and
fpacious four Flory briclt Eland, in Boardman's .
Buildings, whe're he will be happy to Wait on thole
who may pleafe to honor him with their compa-
ny. He alfo affures them no pains fhall bt fpared,-
and that his beta endeavors likewife be ex-'
erteci to render the moll pleafing and fatisfaaory.
Ford-mouth; April rz, 1814.
//,.////./ 7/) ///
//'(/ /'// (4,/110,./,/ 11 1111 1TY CE NTS,
--/d/a • ///n, /;-4`1, ./ //, / 1//d
a/ 1/., °(.)..
Paper Money Whole No. 193 Page 5
Advertisement for the Mason's Arms Tavern.
The fire burned until 5:00 a.m. the following morning. After
the smoke had cleared, the stark, smoldering ashes were all
that remained of the 272 buildings which covered 15 acres.'?
Not one to accept defeat, John Davenport thanked "his
friends and the public for their kindness and assistance, at the
time of the fire." 18 The advertisement also informed the pub-
lic that Davenport moved the tavern, temporarily, to Daniel
Street. Four months later, on April 12, 1814, Davenport opened
a new, permanent tavern, aptly named the Mason's Arms, 19 in
a four-story brick building on Market Street. 2° The sign of the
new tavern was the Masonic coat-of-arms. Shortly thereafter
Davenport sold the land at the corner of State and Ark Streets
to Nathaniel Folsom for $2,000. The new tavern was operated
much the same as the old one and was as popular as ever. In
fact, the favored tavern-keeper was elected a representative to
the New Hampshire General Court 1820-1821. Unfortunately,
old age was starting to take its toll on John Davenport. In 1821
the innkeeper closed the popular tavern and opened a board-
ing house at the corner of Broad and Fleet Streets.-' Presum-
ably a boarding house required less daily work than a tavern.
The boarding house was operated until John Davenport's death.
Now that we have identified the note's issuer, and have a
basic knowledge of John Davenport, let's examine why he
would have issued scrip. One fact remains constant through-
out American financial history—merchants issued fractional
scrip notes only when a need for them existed. Usually the
need for scrip resulted from an insufficient supply of circulat-
ing coins, or specie, to conduct business. One of two circum-
stances generally contributed to the lack of sufficient specie—a
troubled economy, similar to that created by the Civil War in
1862, or an expanding economy, as existed in Portsmouth
during the opening years of the 19' 1' century. From 1800 to
1803 local economic activity, as measured by shipping (im-
ports, exports, and tariffs), increased significantly; but, in 1804,
there was almost a 25% increase in business transactions. 22
This rapid economic expansion continued until President
Jefferson's embargo of 1807 devastated local commerce. Poli-
tics provided an additional factor contributing to the lack of
substitutes for specie. In 1802 the New Hampshire General
Court passed legislation prohibiting the issuance of hank notes
of less than five dollars in value. 23 This law would not be re-
pealed until late 1805. Commerce and politics had set the stage
for scrip notes to appear.
Two further constraints helped fix the issuance date of the
note to 1804-1805. First, in 1805 the Republicans finally con-
trolled both houses of the state legislature and the governor's
office. A significant amount of reform legislation was passed
that year in order to distinguish the Republicans from their
predecessors, the Federalists. One of these laws prohibited the
circulation of "private notes, bills, orders, and checks." 2.1 The
legislation would not be repealed until 1842. This law was
ironic for John Davenport, because he was a Republican. The
other constraining factor is the engraver of the printing plate.
James Aiken25 moved from Philadelphia to Salem, MA in
1804, to Newburyport, MA in 1806, and returned to Philadel-
phia in 1808. In all probability the printing plates were en-
graved in 1804 or 1805 and the notes saw limited circulation,
Davenport's fifty cent scrip note. The engraver's imprint "1. Aiken Sculp." is located near the "New Hampshire" scroll.
Page 6 Paper Money Whole No. 193
if indeed the process evolved past the printing of a unique
"printer's proof." The ornately engraved note (approximately
3 by 8 inch) is printed on one side only, and bears the imprint
"J. Aiken, Sculp." Similar examples of scrip notes exist from
Maine, then a province of Massachusetts, including notes is-
sued in 1815 by John Cutts of Kittery Point26 and 1807 by
John Taber & Son of Portland. 27
In conclusion, tavern-keeper John Davenport issued, or at-
tempted to issue, merchant scrip around 1804-1805 to com-
pensate for insufficient circulating specie caused by the rapidly
expanding local economy.
1 Raymond A. Brighton, They Caine to Fish, A Brief Look at Portsmouth's
350 Years of History; Its Local and World-Wide Involvements and the
People Concerned Through the Eyes of a Reporter, 2 vols., (Portsmouth,
NH: Portsmouth 350, Inc., 1973), v. I, p. 68.
The New Hampshire Gazette [title varies; hereafter NHG], Feb. 10,
1795, p. 2, c. 4.
3 See Bennett F. Davenport, M.D., "The Davenport Family," The New-
England Historical and Genealogical Register (Boston, MA: New-Eng-
land Historic, Genealogical Society, 1879), v. XXXIII, p. 31.
4 Charles W. Brewster, Rambles About Portsmouth. First Series. Sketches
of Persons, Localities, and Incidents of Two Centuries: Principally from
Tradition and Unpublished Documents [hereafter Rambles About Ports-
mouth], 2 vols., (Portsmouth, NH: Published by Lewis W. Brewster,
1873), v. I, pp.178-180.
The State of New Hampshire. Part I. Rolls and Documents Relating to
Soldiers in the Revolutionary War (Manchester, NH: John B. Clarke,
Public Printer, 1889), v. XVII, pp 23-24,31-32, and 38.
6 See NHG, Aug. 10,1776, p. 3, c. 2.
See Rambles About Portsmouth, v. I, pp. 214-218.
Charles L. Parsons, The Capture of Fort William and Mari", December
14 and 15, 1774 (The William and Mary Committee of the New
Hampshire American Bicentennial Committee. 1974), p. 4, N.P.
Portsmouth Town Records, [Selectmen's Records], 6 vols. City Clerk's
Office, Municipal Complex, Portsmouth, NH, v. 2,1695-1779,
1° See NHG, Dec. 10,1773, p. 2, c. 3.
11 ibid, Oct. 21,1774, p. 3, c. 2.
12 ibid, Aug. 8,1775, p. 2, c. 1.
13 The Oracle of the Day, [title varies; hereafter Portsmouth Oracle], Oct.
12,1793, p. 3, c. 3.
14 NHG, Feb. 10,1795, p. 2, c. 4.
15 The Rev. Noah Parker (1734-1787) had a huge house at the corner
of Daniel and Penhallow Streets that the local populace called
Noah's Ark. This is how Ark Street received its name. See Rambles
About Portsmouth, v. I, p. 125.
16 See NHG, May 28,1811, p. 3, c. 5.
17 Portsmouth Oracle, Jan. 1,1814, p. 2, c. 1-3.
18 ibid, Dec. 25,1813, p. 3, c. 4.
19 Incidently, Davenport's coat of arms is almost identical to the Ma-
sonic coat of arms except for the substitution of three stars for the
three castles. Davenport's coat of arms is on display at the Ports-
mouth Historical Society, 43 Middle Street, Portsmouth, NH.
20 See NHG, April 12,1814, p. 3, c. 3.
21 See NHG, Aug. 14,1821, p. 3, c. 5.
22 See George A. Nelson, "Early U.S. Customs Records and History,
Portsmouth, N.H., compiled 1930-1932," 5 vols. (Typescript at the
Portsmouth Athen aeum, 9 Market Square, Portsmouth, NH, 1979),
v. II, p. 27 and pp. 40-43.
23 Laws of New Hampshire Including Public and Private Acts, Resolves,
Votes, Etc. (Concord, NH: Evans Printing Co., 1918), v. VII, p. 119.
24 ibid,. pp. 377-378.
25 Engraver, James Aiken (1773-1846), was born in South Carolina.
From 1795 to 1800 he worked in Philadelphia at the State Depart-
ment for Timothy Pickering. After relocating to New England (1804-
1808), he returned to Philadelphia. He is best known for his book
engravings. See David McNeely Stauffer, American Engravers Upon
Copper and Steel, 3 vols., (New York, NY: The Grolier Club of the
City of New York), vol. I, 1907, pp. 4-6.
26 George W. Waite, Maine Obsolete Paper Money and Scrip (Iola, WI:
Krause Publications, 1977), p. 156.
27 ibid, p. 213.
Ms. Portsmouth Aqueduct Company Record Book, 1796-1898, Public
Works Department, City of Portsmouth, NH.
Ms. Portsmouth Town Records [Selectmen's Records], 6 vols., City Clerk's
Office, Municipal Complex, Portsmouth, NH, v. 2,1695-1779.
Ms. Records of St. John's Lodge No.1 F. & A.M. lames E. Walley Mu-
seum and Library, Masonic Temple, Portsmouth, NH.
Ms. will of John Davenport, Docket No.14330 OS, Microfilm No.51,
Rockingham County Court House, Brentwood, NH.
Brewster, C.W. (1873). Rambles about Portsmouth. Sketches of persons,
localities, and incidents of two centuries: principally from tradition and
unpublished documents, 2 vols. Portsmouth, NH: Published by Lewis
Brighton, R.A. (1973). They came to fish, a brief look at Portsmouth's 350
years of history; its local and world-wide involvements and the people
concerned through the eyes of a reporter, 2 vols. Portsmouth, NH:
Portsmouth 350, Inc.
Davenport, B.F., M.D. (1879). The Davenport Family, The New-Eng-
land Historical and Genealogical Register, Boston, MA: New-England
Historic, Genealogical Society, v. XXXIII, pp. 25-34.
Hennessy, W.G. (March 1955). The Silversmiths of Portsmouth. New
Hampshire Profiles, pp. 33-36.
Garvin, Donna-Belle and J.L. (1988). On the road north of Boston: New
Hampshire taverns and turnpikes, 1700-1900. Concord, NH: New
Hampshire Historical Society.
Laws of New Hampshire including public and private acts, resolves, votes,
etc., 10 vols., 1904-1922.
Nelson, G.A. (1979). Early U.S. customs records and history, Portsmouth,
N.H., compiled 1930-1932, 5 vols, bound typescript at The Ports-
mouth Athenaeum, 9 Market Square, Portsmouth, NH.
Parsons, C.L. (1974, N.P.). The capture of Fort William and Mary, De-
cember 14 and 15, 1774. The William and Mary Committee of the
New Hampshire American Bicentennial Committee.
New Hampshire Silver, Warner, NH: R.C. Brayshaw Co., Inc.
Scott, K. (August 1958). Eight Silversmiths of Portsmouth, New Hamp-
shire. Antiques, pp. 144-145.
Smith. N.W. (1967). A history of commercial banking in New Hampshire
1792-1843. Ph.D. Dissertation, The University of Wisconsin.
Stackpole, E.S. (1916). History of New Hampshire, 5 vols. New York:
The American Historical Society.
Stauffer, D. McNeely. (1907). American engravers upon copper and steel,
3 vols. New York: The Grolier Club of the City of New York.
State of New Hampshire. Part I. Rolls and documents relating to soldiers in
the Revolutionary War. (1889). Manchester, NH: John B. Clarke,
Tallman, L.H. (1995). Portsmouth gravestone records from the smaller
cemeteries and family graveyards. Typescript at the Portsmouth
Waite, G.W. (1977). Maine obsolete paper money and scrip. Iola, WI:
New Hampshire Gazette (title varies) 1773-1842.
Portsmouth Oracle (title varies), 1793-1814.
0 he Baia oT tatvia
ssues During -he 1920s
Paper Money Whole No. 193
by DAVE GRANT
Abstract: The 1990s have been a remarkable pe-
riod in Eastern Europe as a plethora of ethnic
groups have obtained or reasserted their sover-
eignty as independent nations. A rather modest
result is that collectors have been presented with a
vast array of new and very interesting issues to add
to their collections. In the case of Latvia, the new
issues are actually a continuation of the series that
was interrupted by the Soviet occupation and
World War II. This survey article highlights the is-
sues of the Bank of Latvia during its first decade of
N November 18, 1918, just seven days after the armi-
0 stice between the Allies and Germans, Latvia declaredher independence. Formerly incorporated within the
Russian empire, the new state was still under German occupa-
tion and would soon be almost entirely overrun by elements
of the Red Army. Since many Latvians had been leaders dur-
ing both the 1905 and the October 1917 Revolutions, sympa-
thies within the country were torn three ways between: the
Reds, the Latvian nationalists and the German Balts who had
formed the ruling class for several hundred years.
At the time, the Latvian economy was in complete disarray.
Although once the most progressive and prosperous part of
the Russian Empire, Latvia had been part of the front line in
the east since 1915 and much of the country's industry had
been dismantled and shipped east during the war. Many types
of paper money circulated, and most shared the distinction of
being basically worthless. Despite the execution of the Czar,
imperial rubles were still favored, although Kerenski and So-
viet rubles had strong followings. The German occupation had
produced Ost Marks and Ost Rubles, and several municipali-
ties issued the equivalent of notgeld. In April of 1919 the
Latvian ruble—which was based on little more than the prom-
ise of the new government— was introduced, adding to the
Ringold Kalnings, Minister of Finance during most of this
period, was instrumental in stabilizing the currency. During
1919, the various German Freikorps which had attempted to
reassert German authority in the Baltic had been defeated and
had returned to Germany where they added a new dimension
to that country's political instability. By the end of January
1920 all Latvian territory had been cleared of the Red Army
and on August 11 the Treaty of Riga confirmed the Soviet
Union's recognition of the Latvian state.
By the end of March 1920 the military situation had stabi-
lized to the point where an effort was made to declare the
Latvian ruble as the only legal currency in Latvia, displacing
all of the other monies in circulation. This announcement was
a bit premature, however, and it took over a year for the gov-
ernment to actually bring inflation under control. On July 14,
1921 the Constitutional Assembly introduced a new unit of
account, the Latvian gold "frank." The frank was equivalent to
the Swiss franc at .29 grams of gold and was to be the unit in
which all foreign trade was to be conducted. On an interim
basis for the payment of taxes, a frank was set as equal to 100
During the next year, there was considerable discussion about
how to designate the new Latvian currency. The ruble was re-
jected because of its traditional Russian connection and the
new frank was sufficiently popular that 1 frank and 3 franki
revenue stamps were issued and patterns for 10 and 20 franki
gold coins were prepared. The national pride of the new coun-
try demanded a more "Latvian" name for the currency, how-
ever. In response, on August 3, 1922, the Cabinet of Ministers
approved "Regulations on Money" replacing the franks with
the Lats as the national currency of Latvia. During the previ-
ous year the value of the franks had appreciated in terms of
rubles so that the Lats was fixed at an improved rate of 50
Latvian rubles. The older ruble denominated currency was
permitted to continue to circulate until replaced by the new
Lats issues. To implement the policy, Latvia's Constitutional
Assembly adopted a law founding the bank of Latvia on Sep-
tember 7, 1922. The bank received its provisional charter twelve
days later with an initial capitalization of 10 million Lats and
was established on November 1, 1922 with the assumption of
the assets of the State Savings and Credit Bank.
The entire capital stock of the Bank of Latvia was owned by
the Latvian government. The Bank had the functions of both a
central bank and a commercial bank, more similar to the Bank
of England than the Federal Reserve Banks in the United States,
and all of its transactions were to be conducted in Lats. Its
banknotes were redeemable and covered 50% in gold with
the balance in stable foreign exchange. An issue of approxi-
mately 48 million Lats was felt to be necessary to replace the
2.4 billion rubles in circulation. Appropriately enough the ar-
chitect of the recovery, Ringold Kalnings, was named as the
first President of the Bank Council and would remain so until
rCi CY11. A PCI4 E*4 A rci - ,
A...31-1A4 cr BA ,
Page 8 Paper Money Whole No. 193
1922 Provisional 10 Latu Note
One day after its establishment the bank issued its first bank
note: a provisional 10 Latu note dated 1922. Given the short
time available, new designs were not prepared but only new
values were overprinted in red on the both sides of the earlier
State Treasury 500 ruble notes which had circulated since 1920.
Also printed on the note's face was the promise to redeem the
note for 2.9 grams of pure gold.
note also continued to carry the signatures of Minister of Fi-
nance kalnings and Manager of the State Treasury K. Vanags
although neither position related directly to the new bank.
Because of the desire to replace the ruble-denominated is-
sues, the provisional notes were issued in some quantity, re-
quiring the use of serial number blocks A through E.
Nevertheless, today these are very scarce notes, although many
of the survivors encountered seem to be in nicer conditions.
The base note remained unchanged from the last issue of
500 ruble which was commonly known as the "lidaka" or pike
because of the large fish appearing on the back. The note was
a simple design produced by lithography and had been the
target of extensive counterfeiting by the Soviet Union. Violet
serial numbers replaced the red numbers appearing on the
earlier issues of the note. The underlying note continued to be
printed in a blue over green with a gray underprinting. The
This was, after all, a provisional issue and probably began to
be withdrawn with the issue of the 10 Latu State Treasury notes
which begin during 1925. By this time there should have been
some nicer notes still in circulation for anyone wanting a sou-
venir, although the face value equivalent to nearly $2 (U.S.)
would have represented a relatively great deal of money for
many people in a still very poorand recovering country. Proofs,
including uniface color proofs, are occasionally encountered.
AP 600u UNUMiENI
Paper Money Whole No. 193 Page 9
The 1923 100 Latu Note
During 1923 the 10 Latu notes were supplemented by a 100
Latu note. This very attractive note was designed by Rihards
Zarins and printed by the Latvian State Printing Office in Riga.
An ornamental design highlighting the denomination was fea-
tured on the face, typical of most of the earlier Latvian ruble
issues. On its back the note featured the new Latvian coat of
arms between allegories of Agriculture and Industry both of
which are sheltered by a spreading oak tree. Industry holds a
gear and a hammer. At her feet is a bale and an anchor, repre-
senting commerce, and behind her is a group of smokestacks,
perhaps more hopeful given the actual state of the recovering
country. Industry holds hands with Agriculture, who also holds
a sheaf of grain and at whose feet is a basket of fruits and
vegetables. Behind Agriculture is the thatched roof of a typical
farmhouse. The agricultural theme is carried onto the surround-
ing border. The illustrated note is a specimen, "paraugs."
The face design is printed in a dark blue over a gray back-
ground while the back is printed in somewhat lighter shades.
Signatures and serial numbers are overprinted in deep, almost
purplish-blue. The note was printed on paper watermarked
with light, wavy lines.
This was the first use of the new Latvian coat of arms on a
bank note, although it would have a featured place on the
back of most subsequent Bank of Latvia issues. The basic de-
sign of the arms was the result of a national competition spon-
sored by the Latvian Department of Statistics' Heraldic Com-
mission. Vilis Krumins, a graphic arts student at the Latvian
Academy of Arts, won the 10,000 ruble prize for his design
which was modestly revised prior to its approval by the Con-
stituent Assembly on June 15, 1921. A common explanation
for the arms is: the three stars above the shield represent the
three original of the four provinces of Latvia. The Lion of
Courland appears both as the left supporter of the arms as
well as the lower left quarter of the arms and represents the
provinces of Kurzeme and Zemgale. The Griffin of Livonia at
the right and in the lower right quarter of the shield represents
Vidzeme and Latgale. The rising sun symbolizes the appear-
ance of a free Latvia, and may also represent the later addition
of Latgale to the country. The ribbon below is the red and
white flag of Latvia.
Two signature varieties appear on the note:
The first 110,000 notes carry the signature of Ringold
Kalnings, governor of the bank council, and Edgars
Schwede, general director of the Bank.
The 50,000 notes issued during and after 1926 carry the
signatures of Janis Celms, governor, and K. Vanags, general
Although the 100 Latu note is scarce,
with a single serial number block being
produced, it is much easier to locate than
the 1922 provisional note. Neither signa-
ture variety seems to carry, or deserve, a
special premium. The notes generally ex-
hibit a good amount of use and are usu-
ally encountered in grades of less than
very fine, not surprising given the contem-
porary face value of $18. Proof notes are
occasionally encountered and although
expensive, have the added benefit of dis-
playing the designto best effect because
of the absence of wear.
1924 20 Latu Sower Note
Although the 100 Latu was an attractive
and apparently successful design, there
was considerable official concern about
counterfeiting, probably given the earlier
experience with the 50 and 500 ruble
notes. Further, by the end of 1923 only
the provisional 10 Latu and 100 Latu
notes were in circulation, in addition to
some small denomination coins; the bal-
ance of the currency was still the old ruble
notes, many of which were nearing the
end of their productive lives.
In an effort to speed up production and
to economically obtain what were felt to
be counterfeit-proof notes, the bank con-
tracted with the British firm of Waterlow
& Sons, Ltd to produce its notes in 1924,
although the designs continued to be pro-
duced by artists of the Latvian State Print-
ing Office. Ironically, the first product of the arrangement, the
1924 Sower note, quickly became an embarrassment to all in-
volved. The first shipment of notes exhibited such faulty print-
ing that the decision was made not to issue the notes at all. As
Prrt mid's. :lint
La Ayr's danha tamivel:
PESMAT v ,1/4,
Paper Money Whole No. 193Page 10
Because of the circumstances of its issue, the
Sower note is by far the rarest and most expensive
Latvian note and is considered to be the high-
light of any collection. The note is unpriced in
Pick reflecting the infrequency with which it is
encountered. Unless carried as a pocket piece, the
note did not circulate and usually exists only in
1924 50 Latu Note
The 1924 50 Latu note was much more success-
ful for Waterlow & Sons. The face features a fine`Prvot lin■Ido.e ZI7 1(VVV.,f4
is the nature of such things, a misunderstanding led to
the release of about 400 notes. Although a recall was
immediately attempted, a handful were not turned in.
The irony was not missed by Rihards Zarins who noted
that although the officials of the Bank of Latvia thought
that the English printing firms could produce better
notes more cheaply and quickly, the actual result was
the exact opposite!
This note also carries the signatures of Kalnings and
Schwede. The face is printed in brown with orange high-
lights over a deep yellow and features a peasant carrying
M Of M
view of the Riga skyline across the Daugava
River. The Latvian arms, highlighted by a
sunburst from behind, shares the back with
the denomination. This is a rare note and,
since it was not replaced until 1934, ex-
amples encountered usually exhibit some to
a great deal of use.
Specimens are extant for several of the
notes produced by Waterlow during this pe-
riod and are said to have been used for
salesmen's specimen books. In addition to
being hole cancelled and overprinted, the
a basket of seed which he is spreading with his
right hand. The allegory of a sower was consis-
tent with the allegories featured on the 1923 is-
sue, and was very appropriate for the new and
recovering country. The back is printed in a
orangish-red over deep yellow and is dominated
by an oversized national coat of arms. The pa-
per was unwatermarked as were the other
Waterlow issues. Signatures and serial numbers
are in black.
As an additional security feature, this and the
three other Latvian notes printed by Waterlow
carry small "secret marks" in the form of tiny pairs of letters.
On the sower issues, one letter hides within the design on the
lower left face of the note and the other is secreted on the
lower left of the back.
Pn i,nrya,v ten.n1,as :I/
color is dramatically different than for the issued note. The
specimens are a bright red rather than the officially issued
brown; both are printed over a pale greenish yellow. A back
specimen is illustrated.
Paper Money Whole No. 193
1925 20 Latu Note
Waterlow & Sons also had more success with the 1925 20 Latu
note which replaced the Sower note. This issue featured a por-
trait of Janis Caskte, a Latvian founding father who served as
president of Latvian State until his death until 1927. The por-
trait and other details of the note are printed in black except
The note was issued in some quantity, requiring two serial
number series, A and B, and is by far the most common issue
discussed in this article. Worn, but acceptable examples can
be located for less than $20. As with the other issues during
this period, the notes circulated and nice examples usually re-
ceive a premium.
1929 500 Latu
The last type issued by the Bank of Latvia during
the 1920s was the 500 Latu of 1929. This truly
lovely note was one of only two notes produced
by Bradbury, Wilkinson & Co. for Latvia and is
very different than the other designs used by the
Bank. The face features a young woman in the
nativecostume of Nica, a small Kurzeme town
to the south of Liepaja on the Baltic Coast. The
national arms appears below her on the face of
the note rather than on the back as with earlier
Lon-Vas Banka [smite',
for a partial sunburst background which is printed in
a pale green; the base color of the note is a pale yel-
low. The back consists of an ornamental design fea-
turing the denomination and coat of arms printed in
This note is best described as "uncommon." One
should expect to see an example on most specialized
price lists or at a show dedicated to paper money,
although higher grades are not often encountered.
This issue also circulated for some time and, being of
a lower denomination, most exhibit a substantial
amount of wear.
1928 25 Latu Note
This was the last issue produced by Waterlow & Sons. The face
features Krisjanis Valdemars with a sailing ship to the left and,
to the right, his namesake icebreaker in Riga Harbor. The de-
tails are again printed in black with the area behind the serial
numbers in yellow. The back again features an ornamental
design with the denomination and national coat of arms all
printed in blue. The area outside the design on both the face
and back carries a very faint underprinting, again a security
feature along with the secret
marks. This note carries the
signatures of Janis Celms,
governor of the Bank coun-
cil, and K. Vanags, general
Krisjanis Valdemars, born
in 1825, was a politician
and publisher of the first
Latvian political newspaper
during 1863-5. The nautical
themes are related to his
encouragement of the eco-
nomic development of the
country through the found-
ing of navigation schools
and overseas trade in order
to develop a prosperous and
issues. A multicolored underprinting resembling needlepoint
appears in the center of the note and symbols of industry, com-
merce and agriculture appear along the bottom of the face
design. The note also featured the last appearance of the Celms
and Vanags signatures.
Although some of the earlier issues were printed on
watermarked paper, this is the first Latvian note to feature a
"hold to light" security watermark. The head of a young woman
appears to the left of the multicolored underprinting on the
front and within the empty circle which appears at the right
on the back of the note. This
became a common feature
of subsequent issues. This
feature, along with the
underprinting on the face of
the note suggests that stron-
ger security measures were
again a concern of the bank.
The back design is also
very different than others of
the series, or, in fact, of any
other Latvian note. A farm
scene, complete with cows,
a farm house, and hay stacks
dominate the central frame.
The left panel features the
denomination along with
elements suggesting "fruits
Page 12 Paper Money Whole No. 193
of the sea" while the right features the watermark and "fruits
of the land." In addition to being the largest denomination
Latvian note, it is also the largest physical note, measuring
188 mm by 105 mm.
The 500 Latu is a relatively scarce note. It circulated for some
time and is encountered in all states of preservation.
Great Britain, Latvian's primary trading partner, was especially
hard hit by the economic depression in the late 1920s and
early 1930s and Latvia introduced banking and foreign ex-
change restrictions following the devaluation of sterling in
1931. The situation continued to deteriorate and five years
later, on September 28, 1936, the lats was devalued and the
gold standard was abandoned in order to restore the ties with
sterling and to improve foreign trade. With this change, the
Bank of Latvia's circulation more than doubled from less than
40 million lats in to 1935 to over 81 million in 1938.
Also during the 1930s the Bank of Latvia 25 Latu, 50 Latu
and 100 Latu all received major modernization, while the 20
Latu note was replaced by a State Treasury note, which had
been previously confined to 5 Lati and 10 Latu notes. Conse-
quently these modernized notes are much more common than
the first Bank issues and can be readily found in uncirculated.
While more utilitarian and modern in appearance, these notes
also lack much of the charm which characterized the earlier
issues of the Bank.
The Bank of Latvia has several useful internet sites including a brief
history of the Bank and currency. The address of the Bank's home
page is www.bank.ly .
Alfred Bilmanis, Latvia as an Independent State, Washington, D.C., 1947.
Ludvigs Ekis, Latvia, Economic Resources and Capacities, Washington,
Kristine Ducmane & Evalds Vecins, Nauda Latvija, Riga, 1995.
N. Jakimovs & V. Marcilger, The Postal and Monetary History of Latvia
Albert Pick, World Paper Money: General Issues, 1994.
Andrejs Plakans, The Latvians, Stanford, CA, 1995.
A. Platbarzdis, Coins and Notes of Estonia, Latvia, and Lithuania,
Paper Money Whole No. 193 Page 13
CONFIEDERKT COUNTERED :
A MYSTERY SOLVED?
by GEORGE B. TREMMEL
SPMC 2623, ANA 134712
IFTY years ago Philip H. Chase published his book
Confederate Treasury Notes, a thoughtful, well-re-
searched and well-written precursor to today's books
on that subject by such authors as Grover Criswell and Arlie
Slabaugh. His Chapter 7, dealing with counterfeit, facsimile
and bogus notes, laid much of the ground work for the serious
study of contemporary counterfeits of Confederate currency—
a subject with a number of topics still remaining unexplored
and incompletely understood.
Four years later, in 1951, Chase updated Chapter 7. With
the availability of new findings on Confederate currency coun-
terfeits (Sidney C. Kerksis was cited as a major contributor) he
published his update in the October 1951 Numismatist. In that
article, Chase made reference to a counterfeit of the Chase Type
110A (now Criswell T-9) "Sailing Ship" note. He mentioned
several differences between the counterfeit and genuine notes
and then closed his comments with:
In the single specimen now identified the signatures and the
serial number do not conform to the Register entry.
Unfortunately, Chase did not reveal the note's location, con-
dition or serial number (though he did identify the plate block
letters as "Ccc"). Further, he offered no photograph or detailed
description. Apparently his observations have been forgotten
over time, since current CSA currency reference works omit
any mention of the reported existence of a CT-9. So as a new
collector of CSA counterfeits, my curiosity was piqued about
the elusive CT-9 and I set out to find answers to a few ques-
tions. Can Chase's reported find be verified? Can a more de-
tailed description be obtained? Has more than one CT-9 ever
been reported? What is the present location of the CT-9('s)?
While continuing my study of the Raphael P. Thian Collec-
tion of Confederate Currency at the Duke University Special
Collections Library, I recently found a counterfeit of the T-9
"Sailing Ship" note. The note was discovered in the same Thian
scrapbook that contains the previously reported new Indian
Princess counterfeit. But is this the note Chase reported? The
answer is probably, but not certainly.
First, both Chase and Kerksis visited the Duke library dur-
ing the 1947-1951 period and probably one or both of these
researchers saw the CT-9. Second, the note is a close match to
Chase's description in the Numismatist article. Key similarities
• "Ccc" plate block letters
• Heavier lines of ship's rigging from foremast to bow
• Slightly larger lettering of "Twenty Dollars"
• "Fishhook" in "Confederate" banner
• Incorrect Thian Register signature pair.
But to say the note at Duke is the CT-9 Chase reported we
would need to be certain he had not been aware of other CT-
9s at the time of his article. Of this we cannot be sure. While
Chase refers to "the single specimen now identified," it is pos-
sible, though less likely, he was referring to another CT-9.
At least three other Type 9 counterfeits are known to exist
and are known to have been owned by Chase. When they last
surfaced the three notes were offered for sale in the 1987 VNA
Convention/NASCA auction catalog of the Douglas Ball Con-
federate Currency Reference Collection. The three CT-9 coun-
terfeits were, at one time, part of the Chase collection and were
acquired in 1968 by Dr. Ball for his collection. They, subse-
quently, became part of the 1987 sale. When Chase originally
acquired his notes is uncertain. So, one of these notes might
be the note he wrote about. My belief, however, is that Chase
first became aware of the existence of a CT-9 from observa-
tions he and Kerksis made at Duke. He then searched for the
notes he eventually acquired. The notes—two variety CR-29B
and one CR-32—are now part of the currency collection of the
Museum of the Confederacy in Richmond, Virginia.
Returning to the CT-9 at Duke University, the following is a
detailed description of that note.
1) Lithographed counterfeit of a genuine CR-9/29B, printed
in black on white paper. Condition is about good. The
note generally appears crude and darker than genuine,
especially in the ship's hull detail. The details of the value
medallions appear less distinct.
2) Serial Number, 1655, is written in red ink. Plate block
letters are "Ccc" with a period after left plate block let-
ters, but missing after the right plate block letters.
3) Signatures (M. Winston and J.C. Tennent) appear to be
signed forgeries. They are also the incorrect signatures
for this serial number as identified in Thian's Register.
(The correct signers are John Ott and C.C. Thayer.)
4) Other differences from the genuine T-9 are:
• a faint, almost-transparent shadowing beneath the
"20" in the upper right medallion
• in the lower right medallion, a thicker right-to-left di-
agonal stroke in the first "X"
Paper Money Whole No. 193
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!ter rent WI '11, 1
TWENTY B OLLAR S
1//(/////f //(//71 i1,61 ./%)/ ;1J/4/(W
• in the word "years" at the top left of the counterfeit,
the tail of the "y" is truncated and the finishing stroke
of the "s" curls past the upward stroke.
5) The note is cut-canceled in two places: across the central
vignette and between the central vignette and the "20"
medallion on the left.
6) A 19 x 5 mm. rectangular piece is missing from the fore-
mast area of the central vignette and is adjacent to the
7) As reported by Chase, the ship's rigging lines between
the foremast and the bow are heavier than the genuine
and the lettering of the "TWENTY DOLLARS" is 0.5 mm.
higher. Also, present in "CONFEDERATE" is a faint "fish
hook" between the bottom of the "E" and "D."
As a point of interest, a possible explanation of why the coun-
terfeiters used the Winston-Tennent signatures with serial num-
ber 1655, is that those signatures are correct for the same serial
number of a variety of the T-18 note. That note, also a $20
denomination issued in 1861, has the same Sailing Ship cen-
tral vignette and is found with plate block letters A19-26 in
the serial number range 1601-2600. Perhaps, possessing a
genuine T-18, the counterfeiters used that signature pair on
the CT-9 and assigned a serial number in near proximity of
the genuine serial number—hoping that the associated simi-
larities of the two types, signatures and serial numbers would
improve the chances of the CT-9 passing undetected. In any
event, this CT-9 has been detected and now takes its place as a
key Confederate counterfeit rarity.
(Sources on page 17)
Paper Money Whole No. 193 Page 15
Terre haute, Zttton _mot. tom
ikattroab dearer gote5
by LARRY D. MCNABB
As a native mid-westerner, and long-time resident of
Terre Haute, Indiana, I've always maintained an interest
in currency issued by banks and commercial interests of
my hometown. At a recent private auction, a small lot of
six "Railroad Notes" was offered, and after a few min-
utes of spirited bidding, I came away with the notes and
a research project that would happily consume months
of my time.
The six notes were issued by the "Terre Haute, Alton
and St. Louis" railroad [Muscalus 78RT, Hoober, Mis-
souri 10.a, 11 & 12]. Four notes graded fine, and the
two other notes graded out at about uncirculated. As I
began researching historical records associated with the
creation of this railroad, and subsequent issuance of the
notes, I learned of the complex political and financial
maneuvering that occurred in frontier towns of the mid-
N the early 1800s the pioneering spirit was alive in
the mid-west territories. Frontiersmen, cattlemen, lum-
bermen, miners and farmers were establishing settle-
ments at areas convenient to movement of supplies. The
quickest and most reliable means of moving large quantities
of supplies East and West was the Ohio and Wabash rivers;
further West the Mississippi River was also becoming a major
artery for moving supplies North and South. Connecting the
East/West and North/South supply routes became an obvious
goal to many businessmen.
The Terre Haute settlement set on the banks of the Wabash
River, and became an established trading area due to fertile
valleys and large deposits of coal located nearby. By 1830 the
settlement population has swollen to nearly 1,500 people, and
on January 26, 1832 the Terre Haute settlement incorporated.
A little over two years later, on November 4, 1834, the ninth
branch of the "State Bank of Indiana" [Wolka 802 series 1-7]
was established in Terre Haute, with financial heavyweight and
local landowner Mr. Chauncey Rose listed among the Board
Mr. Rose was, in later years, to become crucial to railroad
financial arrangements and land grants that would establish
initial railroad systems that would lead to creation of the "Terre
Haute, Alton and St. Louis" railroad. [Much of the local Terre
Haute land required for railroad right of way was, in fact, do-
nated by Mr. Rose.]
On February 17, 1838 Terre Haute was granted a charter [by
state legislature] and was formally organized as a town. Terre
Haute continued to flourish, and to supply coal, grain, beef
and a host of other resources to an expanding local area, as
well as Eastern cities. By the early 1840s Terre Haute's area
population had more than tripled from the 1830 headcount,
to over 5,000 citizens. Along with an increased population, a
greater strain was placed on the logistics of moving supplies
East and West along the Wabash and Ohio river systems. Riv-
ers were prone to flooding during Spring and Fall and often
became treacherous, ice-choked passages in Winter. An alter-
native channel for moving supplies was required.
In 1847 Mr. Chauncey Rose visited Indianapolis, Indiana to
discuss extending a rail line from Indianapolis to Terre Haute.
Mr. Rose must have been very persuasive in his discussions
with the railroad men. Soon afterward he was able to arrange
the necessary financial investor backing [primarily from East-
ern railroad interests] to begin building the Indianapolis to
Terre Haute Railroad line. Five years after Mr. Rose's visit to
Indianapolis, construction was completed, and in 1852 Terre
Haute had its first rail link to the rest of the United States. The
"Terre Haute and Indianapolis" railroad company remained
successful for over four decades, and stock certificates [Cox,
TER-556-S-45 to 51] from the 1880s and 1890s are still avail-
able to stock and bond collectors.
Also occurring in 1852, to the West of Terre Haute, a Mr.
John Brough was attempting to convince the Illinois legisla-
ture to grant a charter that would allow a rail link directly be-
tween Illinoistown [later to become East St. Louis] and Terre
Haute. Members of the Illinois legislature realized such a rail
line could cause St. Louis to become a major river port on the
Mississippi. Although desiring the financial gain that would
be generated by an increase of supplies through Illinois, the
state legislature had selected Alton, Illinois as the capital, and
jealously prevented any other city from reaching a more favor-
able status. The legislature responded to Mr. Brough's request
by passing the "Illinois Internal Improvements" act, which ef-
fectively prevented a direct rail link between Terre Haute and
St. Louis. If a rail line was to be constructed between Terre
Haute and St. Louis, it would have to pass through Alton.
Although Mr. Rose was not involved in the final effort, a
stock offering was let to finance construction of the "Terre
Haute, Alton and St. Louis" rail line [Cox, TER-444-0-50 to -
S-50]. By recovering track laid by the failed "National Rail-
road" effort, and constructing a series of smaller intermediate
lines, the "Terre Haute, Alton and St. Louis" railroad was com-
pleted in mid-January 1856.
On January 30, 1856 the first excursion train was run on the
189 miles of track starting at Terre Haute, West through Alton
and then South to St. Louis. On February 4, 1856 the "Terre
Haute, Alton and St. Louis" railroad began selling thru tickets
for passengers and cargo between Terre Haute and St. Louis.
Three trains were run, on a daily basis, between Union station
located [then] at 10th & Chestnut in Terre Haute, and the Rail-
4 (/ yr, r-4,- ,,,,,,,,-/ TWIT ....70 0,IL LARS 4,14, •-'7,/,' fie err : erdeiv
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6fe ...1"aei.,:vy ,y_elwoihric:V9
frbite/ieteit,attr /IA.: are/ eitr,/z a/ feiry eluwer .21 Pk .-4,...+0,1#31 .e.i. e 4,77,, , ,„, 7 .;,;:
4,,,,,.00,,,,,, ;.„ ,/,4,....9A1,..A...eetc/fid`; eela rotrievf a f de ?ear 9//rfre ere, li
/re' e///e/ tee , ere/ /./. /.1-4/.
rw TerrvIkarfr..4220.127.116.11varRailltal tzuy
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lia."./..cvlaniy1 9/' -ir.:7 ,-.A.4/ . ;04....,e,,yrs.,:ii Jei ,li lifieete41.ed fly Jr,* 7.- lljhei ivve/
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ed n..11, rowithrat;pord 44 ,
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ar ea/t;" ifreviye Trielf CAllA.471 ,aya,46.? ,,I '7,1,44f/fry
ar,.‘0 /Av. J- a.' /-. .Vevrfc) -6,114 44.7,0,-.#64y e/eiw/y icka,•
7.1,,,,tierevryeef/e 4/%•0Waft of 'my afrmer, 1(` „kir ierb;:rotevi y;•;
••.• • leiweierei.ti mfelelev, :44,1 aff ire4 tr/t.fe ree///
Tk ArreliorgrAir 5,11LowisIttattlaava. f.a.+E
Page 16 Paper Money Whole No. 1 93
road Depot ticketing offices located at 106 North 4th Street in
Although not the most direct possible link, the Terre Haute
to St. Louis via Alton rail line became a stable railroad enter-
prise, and began moving an increasing amount of passengers
and cargo. As heavier locomotive engines, and heavier loads
of iron ore and "Big Block" coal were transported over the rail
lines, owners began improving rail beds, bridges, and increas-
ing the rail gauge. To finance these and other assorted improve-
ments, rail line corporate officers authorized short term six
The bearer notes were printed by "Hart, Mapother & Com-
pany Lithographers" located [then] at 36 North Main Street,
St. Louis. The notes were printed using black ink, on plain
white paper stock [no watermarks]. The notes range from 61/2
to 6 7/ 8 inches in length, and 3 to 3 1 /8 inches height. Several
varieties of the bearer notes exist, as do several counterfeits of
the notes. Most genuine notes have the dates handwritten in
at the upper right of the note; there are a few [rare] examples
of the engraver printing a date at the same location. All genu-
ine notes I have examined are serialized by hand, in the upper
percent bearer notes that, upon maturity [usually ranging from
six months to two years], could be used to purchase transport
of passengers or cargo on the rail line.
left of the note. Additionally, all genuine notes have the bond
maturity date incorporated into the note legend by the en-
graver. In all genuine examples the denomination of the note
Paper Money Whole No. 193 Page 17
is also incorporated into a marker [upper left and right cor-
ners of the note] by the engraver. All genuine notes have hand-
written signatures of railroad officers: the general bookkeeper,
vice president, and treasurer.
All notes, counterfeit and genuine, are characterized by close
border margins and uneven cuts [most probably a characteris-
tic of clerks cutting the individual notes from a sheet]. All notes,
counterfeit and genuine, have two vignettes; a large primary
vignette located top, just right of center, and a minor vignette
located right of center at the bottom of the note. The primary
vignettes always incorporate a wood or coal fired locomotive
theme. The minor vignettes vary widely, but usually incorpo-
rate a cargo theme.
Notes having a handwritten maturity date, or a handwritten
counter, are counterfeits. All notes having engraved signatures
are counterfeits. Some of the counterfeits I have examined are
of much higher quality than genuine notes, and authentica-
tors should use extreme caution.
I have viewed notes in $5 and $10 denominations, and have
heard reports of $20 notes; I have not personally viewed or
authenticated $20 denomination notes. Note denominations
are presented in Roman numeral or standard [English] nu-
meric format. On three occasions I have viewed denomina-
tions with Roman numeral and standard [English] numeric
format on the same note.
Although I have experienced some debates on the correct
spelling of the names, I have had two handwriting analysts
decipher the most common signatures on genuine notes. To
the best that I am able to determine, the three most common
signatures on genuine notes are:
General Bookkeeper: A. Ware
Vice President: 1.A. Ray
Treasurer: C. Murdoch
Hoober's rarity listing for "Terre Haute, Alton and St. Louis"
railroad notes is 50 to 100 known [for each denomination,
and variety]. Through my research in the last year, I believe
that many of the notes have been lost through inadvertent
destruction and mishandling. Using the McDannel rarity scale,
I believe an R-2 rating for the $10 denomination [both varia-
tions], and an R-3 rating for the $5 denomination is more
accurate. Since I have not yet viewed an authentic $20 denomi-
nation, the rarity rating, if not in fact the existence, of the $20
denomination is unknown.
Cancellation of the notes is normally by hole punch through
signatures, or through the serial number.
I have allowed publication of three genuine notes, from my
private collection, with this article. The three notes were se-
lected to present as many possible design variations as may be
found on genuine notes.
I am always interested in new information on this series of
"Railroad Notes." I am sure that there are collectors in the So-
ciety [SPMC] that have "Terre Haute, Alton and St. Louis" notes,
and welcome questions, comments or letters of any sort, to
P.O. Box 2443, Ft. Riley, KS 66442-0443 regarding the history
behind these fascinating notes.
Bailey's Terre Haute Directory. (1871). Terre Haute, IN: A. Bailey.
Bradsby, H.C. (1891). History of Vigo County, Indiana, with biographical
selections. Chicago, IL: S.B. Nelson and Co.
Cox, T. (1995). Stocks and bonds of North American Railroads. Port
Clinton, OH: BNR Press.
Fischer, R.D. (Ed.) (1930). Marvin Scudder manual of extinct or obsolete
companies. Vol. III. New York, NY: Marvin Scudder.
Gilmore, M.M. (5 Nov. 1947). Beginnings of the Pennsylvania Railroad
in Terre Haute, Indiana: Transcript of a lecture to the Vigo County
Hassam, I.. (1873). A historical sketch of Terre Haute, Indiana. Terre
Haute, IN: Gazette Job Rooms, L.M. Rose & Co.
Hessler, G. (1993). The engraver's line. Port Clinton, OH: BNR Press.
Hoober, R.T. Railroad notes and scrip of the United States, the Con-
federate States and Canada. PAPER MONEY. St. Louis, MO: The
Society of Paper Money Collectors.
Logan's Biennial Terre Haute City Directory & Classified Business Direc-
tory. (1868). Terre Haute, IN: Logan & Co.
McEvoy, H. (1858). Terre Haute City Directory and Business Mirror. Terre
Haute, IN: R.H. Simpson & Co., Book & Job Printers.
Muscalus, Dr. LA .(1971). Railroad currency. Bridgeport, PA: Historical
Paper Money Institute.
Paxson, F.L. (1912). The railroads of the old northwest: before the Civil
War. Vol. 17 part 1. Wisconsin Academy of Science, Arts & Letters.
Sulzer, E.G. (1970). Ghost railroads of Indiana. Indianapolis, IN: Vane
A. Jones & Co.
Terre Haute City Directory and Business Mirror. (1863). Indianapolis,
IN: Campbell & Richardson Pub.
Terre Haute City Directory and Business Mirror. (1864). Terre Haute, IN:
Simpson & Co., Book & lob Printers.
Wolka, W.A., J.M. Vorhies and D. Schramm. (1978). Indiana obsolete
notes and scrip. Iola, WI: Krause Pub. for The Society of Paper Money
MYSTERY (Continued from page 14)
Ball, D.B. (12 & 13 March 1997). Telephone conversations concern-
ing Dr. Ball's recollection of the history of the CT-9 notes auc-
tioned in 1987.
Chase, P.H. (1947). Confederate treasury notes. Philadelphia, PA: P.H.
. (27 Jan. 1947). Letter to N.M. Tilley, Special Collections Li-
brary of Perkins Library, Duke University, Durham, NC. (This let-
ter concems Chase's planned visit to examine the Thian Collection.)
. (Oct. 1951). Paper money of the Confederacy—new findings
of counterfeit and bogus Confederate treasury notes. The Numis-
matist, No. 10: pp. 1080-1090.
Criswell, G. (1996). Comprehensive catalog of Confederate paper money.
Port Clinton, OH: BNR Press.
. (1992). Confederate and southern states currency. Port Clinton,
OH: BNR Press.
NASCA (Smythe & Co., R.M.). VNA-Richmond 1987 Confederate Sale.
New York: NASCA.
Slabaugh, A.R. (1993). Confederate States paper money. Iola, WI: Krause
Thian, R.P. Confederate States of America—Confederate notes with de-
scriptions of emblems 1861-64 Richmond, VA. Scrapbook in Special
Collections Library of Perkins Library, Duke University, Durham,
. (1972). Register of the Confederate debt. (Reprint). Boston, MA:
P 44951249 H
Paper Money Whole No. 193Page 18
110 ROPLe ICIK A 'j VCU gilAntal
A T best collecting is a hobby, somewhere at the otherend it is an addictive vice. A good friend of mine, an
avid Wyoming national bank note collector, had to
branch out into other areas because, as he put it, he needed
fixes more often than Wyoming notes came along. If we can't
find something we think we need or want, we seem to have an
uncanny ability to dream up excuses to collect something else.
Well, this piece describes a case in point. It also reveals a bit of
vanity that probably underlies a lot of the psychology of col-
Years ago, while rummaging in the attic of the Bureau of
Engraving and Printing Annex Building where old records used
to be stored, I stumbled across a notebook that was kept by a
supervisor or pressman in the serial numbering division. This
fellow faithfully recorded the dates when $1 silver certificate
serial number blocks were started and finished. The record
spanned the entire period from the beginning of the number-
ing of the Series of 1935 AA block on November 19, 1935, to
the beginning of the Series of 1935D ZE block on March 24,
1950. The handwriting through these entries improves over
time but the distinctive shape of the Ds reveals that the entries
were all made by the same employee. He didn't worry about
varieties such as signature changes, Hawaii or North Africa
printings, or experimentals, just the beginning and ending dates
for the blocks.
I quickly found that numbering of the BC block was started
on Tuesday, August 25, and finished on Wednesday, Septem-
ber 30, 1942. Thus the BC block was being numbered on Thurs-
day, August 27, when I was born.
You guessed it, I had to figure out the approximate range of
serial numbers printed on my birthday, and go out and try to
find one! It would be a Series of 1935A.
The Bureau was on a six-day work week at the time so it
took 32 working days to print the 100,000,000 serial num-
bers in the BC block, a rate of 3.125 million per day. This
placed the production on August 27th inclusive of serial num-
bers B06250000C and B09375000C. If I worried that the ma-
jority of the production on August 30 was devoted to the CC
block, which was begun on August 29th, then most of the BC
block would have been produced in 31 days at a rate of about
3.225 million/day. This yielded serials B06450000C through
B09675000C for August 27th.
I would consider the chase satisfied if I could locate a serial
number in the broad range B06250000C through
B09375000C, but consider myself luckier if I could find one
between the more constrained probable range of B06450000C
THE PAPER COLUMN
by Peter Huntoon
and B09375000C. This seemed like a feasible goal, for after all
I was looking for notes representing three percent of the Series
of 1935A BC block which itself is not a rarity. If I saw a ran-
dom sample of 100 of them over the years, I should find about
I began this quest about a decade ago, and really got earnest
with it about 1992, when I began to place ads for the broad
serial number range in the Rag Picker, which seemed to be
read by a lot of block collectors. My little ad has run sporadi-
cally ever since but no one ever responded. However, along
the way, my quest caught the attention of my long time friend
John Schwartz of small-size note catalog fame.
John really got intrigued with the concept, and talked to me
at length about it at a show a few years ago. This type of hunt
was just up his alley. He loves anything to do with serial num-
bers and blocks, the more arcane the better, and he possesses a
memory like a trap. After a couple of years, he issued the chal-
lenge that he would be the first to find one! He pointed out
that he was doggedly persistent at this type of hunt. Also he
held the advantage of being in the east where a lot more notes
are available to scan.
His challenge made the chase even better. There is nothing
like having a competitor, especially if that competitor is the
type of guy who is putting his own vanity on the line as part of
the chase! We set the goal early: any note in the right serial
number range in any condition would do the job.
Over the years, I occasionally found notes on either side of
the desired range, and bought those that closed in on my goal.
As of this writing, my little accumulation consists of the fol-
lowing three purchases: B02596300C (CU), B12969882C (AU)
and B13178210C (F). As you can see, I wasn't getting particu-
larly close, and I wasn't making a heck of a lot of progress, but
a good chase is not easy. If you get what you want easily, you
have nothing to live for.
Serial number B00001234C in CU showed up as lot 310 in
the October 26, 1996 St. Louis Show sale conducted by Lyn
Knight. Although numbered on August 25th, and on the wrong
side of B02596300C which I already had, this serial number
was sufficiently attractive that I mailed in an outrageous bid in
order to eliminate any risk of missing it. I wasn't present at the
sale, and was amazed to learn that it went for $198 to a floor
bidder. Well you just can't have them all.
A couple of years ago I stumbled on this note. The block letters are my
initials—I had never even thought of that. Well for a couple of bucks or less,
who could pass it up!
Paper Money Whole No. 193
When I arrived at the 1997 Memphis show last July, one of
the first guys to corner me was Schwartz. He had that special
twinkle in his eye that told me he had a teaser for me. Leading
me on, he produced the B00001234C! "Good grief " I groaned,
"we bid each other through the roof for the darn thing!" His
thelogic was correct, though, in saying he had to run with
bids. He had no idea who the other bidder(s) were and
if he lost it for me, he didn't want to live with
such a failure. Naturally I bought it from
him at his price which included a mod-
est profit that barely covered his inter-
est on the money; the cost to me was
immaterial in this case. Thinking that was
the end of new revelations from John, I
started to wander away.
B08247290C was serial-numbered on my
birthday, 8-27-42. Notice that all those numbers
are even embedded in the serial number. Don't
ask me the significance of the left over 9, it
wasn't the hour I was born, that was 2:50 am.
Schwartz was born in 1939, maybe .. .
THIS CltliTIFIES THAT THIM6 IR ON DEPOSIT IN TNIL TRLABIL■111 , Oi
tr-TAVI14 4.3451111A (#44111ALIC641
B 0 8 214 729 0 Ceal:4 '2;2
THiS CERT,,ICÂTEli E0p,TENDER
ORA,,,Es, PUSLIL AND PRIVAT E
Gleefully he called out and I saw
that the gleam in his eye had actu-
ally intensified. With the electric
excitement that is his special
charm, he produced another $1
silver certificate. Even at a distance of
several feet, I knew he had beaten me to
the real quest! Now beaming, and probing
through questioning to ensure that I had not
found one myself, John laid the note shown here in
my palms. With great braggadocio, he pointed out that
his triumph was CU to boot!
What can I say, when you take on the grand master, some-
times you lose, or do you! John sold me this note—which is
priceless to me—but which would interest no one else in the
world at his cost of $4.
Now what to do? Guess I will look for B06xxxxxxC,
B07xxxxxxC and B09xxxxxxC. I want to live a long time.
The Red River traders have made us their annual visit [by ox
cart from Canada]. The amount of their trade is estimated at
from $30,000 to $40,000 this season. Many of them brought
gold as well as furs, and Bills of Exchange on the Hudson's Bay
Company, London, have frequently been offered for negotia-
tion by them to our Bankers the past week. Should the reports
with regard to gold at Frazer's River prove true, our trade with
the Red River country will increase ten fold in the next two
years.—(St. Paul Daily Minnesotian, July 10, 1858.)
An Early Bank Note
The earliest bank note in the possession of the Bank of Eng-
land is one dated Dec. 19, 1699, for £555. It is printed from
an engraved plate, but it has blanks for the amount, date, num-
ber and signature. Across from it are written memoranda show-
ing that it was repaid in three installments. In appearance it is
not altogether unlike the modern note. It is noticeable par-
ticularly that in the words "For the Govr. and Compa.," the
word "company" is thus abbreviated and not into "comp.,"
which would be in accordance with the usual practice. In the
bank library is another note for £25, which was not presented
for 111 years. Another curiosity, said to be unique, is a note
for no less than £1,000,000, dated 1782. Only four for such
an amount have ever been issued.—Strand Magazine.—(Pierce
County Tribune, Rugby, N. Dak., Dec. 29, 1894.)
i tk t 10 it it lite Ti 11 70 MiS t* , 1:1040 9
°VA* DO 11 yid
4Va ;:‘4g11` r
20 vir07.:' ,20 Twxtrri-ilits ta Err
Page 20 Paper Money Whole No. 193
by ERIC VICKER
'M excited and proud to announce the discovery of a
note from The Glassport National Bank, Charter 5708.
No notes from this bank were known to exist by John
Hickman and Dean Oakes when the 2nd edition of their Stand-
ard Catalog of National Bank Notes was published in 1990.
The small town of Glassport is located in Allegheny County,
about ten miles southeast of Pittsburgh. The area is part of a
peninsula formed by the Monongahela and Youghiogheny
Rivers. There are quite a few communities in this region, many
of which boasted at least one national bank that issued notes:
Clair-ton, Elizabeth, McKeesport, West Elizabeth, and Wilson.
I'm an avid collector of them all, so you can imagine that the
"unknown" Glassport occupied my thoughts!
Brief History of Glassport
The community of Glassport was incorporated from Port Vue
Boro, and developed around a manufacturing plant operated
by the United States Glass Company. The riverside location
and easy access to railroads brought other industry, including
coal, gas and steel. Many of the firms still operate in the area,
including Copperweld, Pittsburgh Steel, and Westinghouse. A
Glassport Trust Co., Sixth St. and Monongahela Ave., Glassport, Pa.
recent census lists the population of Glassport as about 5,000;
the population of the community when it was founded at the
turn of the century was about 3,000.
The Glassport National Bank
Charter 5708 was issued to The Glassport National Bank on
January 28, 1901, and the bank opened for business about
two weeks later, on February 11th. The bank issued 2823 sheets
of Second Charter Brown Back notes in $10 and $20 denomi-
nations (10-10-10-20), a grand total of 11,292 notes. The to-
tal dollar amount of circulation issued was $141,150.
There may have been a power struggle within the bank, or
perhaps a friendly exchange of offices. In any event, a March
1904 bank directory lists the officers as James Evans, presi-
dent and S.A. Bryce, vice president; a March 1906 directory
reverses the roles. W.S. Kearny was the cashier of The Glass-
port National Bank, and he served in that capacity for the trust
company at least through 1926.
I was fortunate to obtain a contemporary post card showing
the bank building, and the message on the back was most in-
teresting: "Dear Edith: A view of the only bank in town. When
a person puts money in, it's only a question of whether they
will get it out, as the bank changes hands constantly. Jim."
National Currency Issues
When The Glassport National Bank closed in March 1906 the
amount of its notes in circulation was $49,100; a 1910 report
shows the outstanding circulation had shrunk to $4,725.
To the best of my knowledge, the illustrated $20 note, which
I'm happy to say resides in my collection, is the only known
survivor of this short-lived bank's issues. This note was sold to
me by the same good friend who sold me the unique Red Seal
from Cecil, Pennsylvania (see PAPER MONEY No. 181).
Hickman, J. and D. Oakes. Standard catalog of national bank notes. 2nd
Edition 1990. Iola, WI: Krause Publications.
HORTLY after the September/October 1997 is-
sue of PAPER MONEY reached the SPMC mem-
bership, I received an e-mail message from Peter
Huntoon. The message concerned my statements and
assumptions in the article on pages 161-162. Peter has
pointed out the "error of MY ways" quite clearly, and
his comments clarify a situation that has been perplex-
ing to some (including me)! Read my article, then read
these comments. You'll know the REAL story.
Paper Money Whole No. 193 Page 21
"None Outstanding All Redeemed-NOT SO ! "
NEW INFORMATION ABOUT NATIONAL CURRENCY OUTSTANDING
(Retractions by) BOB COCHRAN
Unfortunately your article perpetuates a [Louis] Van Belkum
mistake, and then heaps a lot of serious misinformation on
that! Let me explain.
I dug out the original Van Belkum data card on Gardiner to
see just what happened. Van Belkum says the entire issue was
redeemed, both large and small, an obvious mistake because
the bank was issuing notes right up to the end and most of the
$25,000 was still in circulation when the redemption records
ceased. Van Belkum's error was picked up by [John] Hickman
but modified by John to say that all the large-size notes were
redeemed. Seeing an obvious blunder, [Don] Kelly did not
fall into either trap set by Van Belkum or Hickman, and cor-
rectly showed only the last circulation figure of $25,000 from
the Comptroller of the Currency's annual report for 1934. Kelly
listed reports of three large-size and four small-size notes for
Here are some facts which got misconstrued in your specu-
lations. The Comptroller's office kept very accurate redemp-
tion records for national bank notes right up to the very end of
the small-size note issues in 1935. This was done simply be-
cause the National Bank Act required it, and every comptroller
followed the law to the letter. It was, unfortunately for the
redemption bureau, the only way they could accurately assess
the circulation tax—the feature here of utmost and primary
importance—and also accurately maintain the circulation for
a given bank. For tax purposes, and also for replacement pur-
poses, the records are so complete they even show fractional
pieces of notes if they didn't add up to the whole dollar value
of the smallest denomination in circulation. Think this
through: Taxes were involved and the records had to be pre-
cise and complete. Can you imagine the work load for the
Redemption Bureau during the week ending December 12,
1914, when they redeemed, sorted by bank, and accounted
for the all-time record weekly high redemption total of
$45,144,798! This amounted to something like sorting a mil-
lion notes per day that week!
When a bank liquidated, the law required the bank to pro-
vide money to the redemption fund to redeem its circulation,
but not to actually redeem its notes. There is a big distinction
here. The actual procedure used was that the bonds were sold
by the Treasurer, money from that sale was deposited in the
redemption account, and that money was used to offset re-
demptions of the bank's notes as they came in to the Redemp-
tion Bureau from circulation. The bank had no obligation
whatever to withdraw its notes from circulation, nor did any
The same occurred if a bank reduced its circulation. The
bonds covering the reduction were sold, the funds deposited,
and actual redemptions offset by those funds. The bank would
not receive new notes until the entire reduction was physically
redeemed from circulation. Read Chapter 28 in my book to
see how this worked.
What we see in the redemption parts of the ledgers for closed
banks is a notation that lawful money was deposited to make
up the difference for outstanding notes. Thus the books bal-
anced, they could be closed, and the obligation for redeeming
the notes was transferred to the Treasurer.
Even so, the notes for the individual banks were faithfully
logged-in after the ledgers were closed. This is how we get those
low "large outstanding" figures from the Comptroller's An-
nual Reports. They did track the notes to the last dollar. It is
only the fact that the annual reporting of these data changed
in the Comptroller's Annual Reports that gives us an inter-
nally inconsistent basis for comparing the rarity of the various
banks as of 1935. For the early closures, the annual reporting
of data ceased in 1910. For later banks, the reporting ceased
when the bank's books were closed. However, the notes were
tracked thereafter for both cases, just not reported in the An-
Notice that the Gardiner bank neither closed nor reduced
its circulation, so the foregoing scenarios don't even apply here.
Here are the worst of your misstatements in your article aside
from the issues discussed above.
It was NOT the obligation of the banks to "round up" their
notes from circulation once they closed or reduced their circu-
lations. Consequently, there were no procedures, let alone in-
centives, to "salt" redemptions with notes of ANY type.
It is doubtful if many banks actually handled the bonds used
to secure their circulations. The Treasurer sold the bonds for
the banks to cover redemptions so the banks neither saw the
bonds nor the money.
The following statement is the worst, it being ENTIRELY
incorrect: "The clerks in the Redemption Bureau were usually
busy enough that if the face value and denominations of the
notes being redeemed matched what the bank claimed, the
claim would be honored; they didn't always have the time to
Page 22 Paper Money Whole No. 193
make sure that all of the notes were from the bank wishing to
Your conclusion that "the majority of the outstanding figures
reported for individual national banks are incorrect" is bla-
The conversion to 1929 notes did not even cause a ripple in
altering the accuracy with which these records were maintained.
Thank heaven they did bother to differentiate between the large
and small [sizes] in redemptions which was not mandated by
When the circulation privilege ended in 1935 the banks
didn't have to do a single thing about their notes in circula-
tion. They became the obligation of the Treasurer, who re-
deemed them as they came in. There was no special effort to
pull them. The banks did nothing! I would never claim that
no sorting mistakes were made in the 72 years of redemptions
before the Treasurer assumed the liability for the notes; all I
will state is that they were trivial. What I can state is that like
all of us, Van Belkum made many mistakes in abstracting the
issuance and redemption data, and I have been slowly correct-
ing these by looking up the relevant ledger sheets in the cur-
rency and bond ledgers as people discover them. Gardiner will
be added to the "to do" list for my next visit to DC. I can also
advise that there is an occasional error in outstanding totals
reported in the Annual Reports of the Comptroller of the Cur-
rency. For example, the 1910 outstanding figure for The First
National Bank of Tucson, Arizona Territory (2639) is $335,
when in fact it was $325, an obvious typographical error when
compared to previous years.
The value of the redemption ledgers is made with one grand
example. The Consolidated National Bank of Tucson, Arizona
Territory (4287) issued 980 sheets of $50-$100 notes in the
1882 and 1902 series. The later ledger pages for the bank re-
veal that every single $50 was redeemed except one. I have
seen that note, and it is certifiably unique. I would hate for
your article to cast doubt on that fact for its present owner.
I hope you will run a retraction for this flawed piece. It un-
necessarily muddies the waters and is simply incorrect. What
bothers me is that it resulted simply from a propagation of
errors through the numismatic literature—Van Belkum to
Hickman to you—not anything based on fact. It would have
been so easy to get the last Gardiner ledger sheet and see that
all the notes had not been redeemed.
Van Belkum, L. (1968). National bank notes of the note issuing pe-
riod 1863 - 1935. Chicago, IL: Hewit Bros. Numismatic Pub-
Hickman, J. and D. Oakes. (1982). Standard catalog of national bank
notes. Iola, WI: Krause Publications.
Huntoon, P. (1995). United States large size national bank notes. Laramie,
WY: Society of Paper Money Collectors, Inc.
5g,„ q.a, r Tar,
by BOB COCHRAN
have quite an accumulation of old dealers' price list-
ings, many dating back to the late 1960s and early
1970s. Some of these price lists are quite crude, in that
they were written or typed and then mimeographed.
"Mimeograph," for those of you who have grown up in the
digital age, was an early form of copying documents. An im-
age of the document was created in a machine, and the result-
ing copies were created in a bright blue ink.
Before the popularity of publications such as PAPER MONEY
and the Bank Note Reporter, this was a cheap way for big-time
dealers, vest-pocket dealers, and collectors with a few extra
notes on hand to advertise their wares. In the late 1970s we
see some of the larger dealers creating extensive "booklets"
containing hundreds of notes; some of these are illustrated,
but sometimes they used "stock" illustrations, and didn't nec-
essarily show the note(s) actually being offered for sale. The
two dealers that I know of who still use this format on a regu-
lar basis are Dean Oakes and Hugh Shull—and their catalogs,
especially Hugh's, are "keepers." As a matter of fact, I know of
many collectors and dealers who tote Hugh's latest listing along
when they go to shows because he provides valuable informa-
tion about many notes that have not been recorded in the vari-
ous catalogs of obsolete notes.
A few of my booklets record a dealer's progress over the years.
As an example, my earliest knowledge of Lyn Knight comes
from a booklet published by P&I Coins of Sioux City, Iowa,
probably in the late 1960s; most of the material offered for
sale is coins, but there are a few pages of national bank notes
obviously cataloged by Knight. A later booklet (1974) shows
Knight as a member of the staff of the House of Stuart, Ltd., in
Kansas City, Kansas.
Anyway, my box of "stuff" contains listings from folks I've
never heard of, as well as some from people I've been privi-
leged to meet over the years. What's fascinating about these
lists are the "blockbuster" notes that were offered at what are
today, only 20-odd years later, INCREDIBLY low prices! Most
of the notes that were described as "rare" then are still RARE
today, indicating that an investment in an original (not pro-
cessed) rare note today is a GOOD investment.
Here's one example, from a June 19, 1973 price list from
the late Phil Lampkin;
ALABAMA—Mobile: 1865 Series $1.00 Nat'l. (Fr. 380). First Na-
tional Bank; Ch. # 1595. Quite rare, as are all first charter notes of
this denomination from the "Yellowhammer" state. Horizontal
tear has been mended so as to be virtually invisible from obverse.
Overall appearance of specimen is that of a Very Good—an espe-
cially desirable note, its condition not withstanding.. . . $85.00
I have a pretty good idea in whose collection this note resides
today, and I'm sure the owner wouldn't part with it for FORTY
TIMES Phil's asking price from 1973. There are only about
four or five $1 national bank notes known to exist from the
State of Alabama; a note in similar condition to this one re-
cently sold at auction for over $3600, including the buyer's
I read some good advice in one of Don Kelly's price lists
from the early 1970s, and it's still good advice today—START
With this issue I begin my second year in Cincin-
nati. Nevertheless, some members continue to
send mail to my old address. See page one for
correct address. (Ed.)
NITED TATESIVANERICA D974702E-7" D
osossANI 1!1 ammo
4bz--t.,--t;40-114-MS1174----11.1 -7- Jezartipiaprzz-na
Paper Money Whole No. 193 Page 23
S. ,Couis ,/l/toore
by FRANK CLARK
The note illustrated is a $10 Third Charter Plain Back na-
tional bank note signed by S.L. Moore as assistant cashier. The
bank was chartered on April 22, 1902 with charter number
6224 and then voluntarily liquidated on March 15, 1927. The
total amount of issued notes was $201,050 and the amount
out at close was $12,195. The First National Bank of Com-
merce, charter number 4021, assumed the Planters and Mer-
chants circulation. The P&M issued $10 and $20 notes in the
following Third Charter types—Red Seals, Date Backs, Plain
Backs with the 1902 charter date and also Plain Backs with the
1922 re-chartered date making this last type a so-called "Fourth
D ID anybody in your coin club sign national bank notesas an officer of a national bank? Well, one member of
the Dallas Coin Club did. He was S. Louis Moore,
Dallas Coin Club member 302. Below is what I learned about
him with the help of his son, Louis Moore, Jr., who I thank
S.L. Moore was born in 1888 and lived in Commerce, Texas
most of his life. He worked at The Planters and Merchants
National Bank of Commerce, Texas from 1908 to 1924. He
was an assistant cashier of the bank from 1910 to 1915 before
being promoted to cashier. In 1924 he entered business for
himself and through the years was a professional in the fields
of insurance, real estate and retail
Mr. Moore was a numismatist going back to his banking
days. He joined the American Numismatic Association in 1921
with membership number 2221. He would take his son on
numismatic visits to B. Max Mehl in Ft. Worth and William A.
Philpott. His numismatic interests included U.S. gold coins
and he talked on the subject several times before the Dallas
Coin Club. He served the club in several capacities, most no-
tably as a member of the Hotel and Convention Space Com-
mittee for the 1953 American Numismatic Association
convention held in Dallas at the Baker Hotel. He also served
as the club's president in 1960. The year 1960 is important in
Dallas Coin Club history because in that year the club had
100 .900 fine silver medals struck to commemorate the club's
Mr. Moore collected for over 60 years and owned a wide
range of coins, including many early gold coins, pioneer gold,
early proof coins, currency and Mexican coins. He passed away
As a collector of North Texas national bank notes and Dal-
las Coin club memorabilia, as well as serving the Dallas Coin
Club in several capacities throughout the years, I was happy to
combine all of these interests into one article.
American Numismatic Association Convention Souvenir Journal, 1953.
Dallas Coin Club Yearbooks, various issues.
Kelly, D.C. (1997). National bank notes. Oxford, OH: The Paper Money
U.S. PAPER MONEY COURSE AT ANA
One of 33 courses offered by the American Numismatic Asso-
ciation (ANA) July 11-17, 1998 will be on U.S. federal paper
money. The course instructors will be author and PAPER
MONEY editor Gene Hessler and Maryland currency dealer
and paper money expert Mark Hotz. The course will cover all
areas of federal currency: large- and small-size. There will be
special emphasis on national currency due to the large variety
of notes and the many fascinating collecting aspects of this
Grading, market conditions and investment tips will be cov-
ered. In addition, the designs and the engravers who created
the notes will be discussed. The course will offer unique in-
sight into the history of our federal currency that only an in-
teractive course such as this can offer.
Besides slide presentations, students will have the opportu-
nity to examine the fantastic Bebee collection at the ANA
The summer seminar takes place on the campus of Colo-
rado College, next to the ANA. The tuition covers the course
fee, accommodations at Colorado College and three daily
meals. Optional attractions include trips to Pikes Peak and
Cripple Creek. A graduation ceremony and banquet complete
the five days.
For a detailed brochure write to: ANA Education Dept., 818
North Cascade Avenue, Colorado Springs, CO 80903-3279 or
call (719) 632-2646 or FAX (719) 634-4085.
Paper Money Whole No. 193
A Primer for Collectors
gereditR ihrtitrate lcm einGgrucv
by GENE HESSLER
ODAY you can be an instant millionaire, billionaire,
even a trillionaire; well, sort of. Just about everyone is
familiar with inflation to some degree; however a hy-
perinflation is something quite different, and the paper money
that accompanies it is a reminder of a troubled economic or
political period. Hyperinflation paper money most often bears
astronomical values with multiple zeroes. These big denomi-
nation notes give a nonresident of the place where the notes
circulated a vicarious sense of wealth, and are conversation
Many of the large denomination notes issued in the early
1920s in Germany and those that were in use in China, Greece
and Hungary in the 1940s are still available from paper money
dealers for very little. Before World War I, in 1914, the Ger-
man mark and the British shilling were equal, and four Ger-
man marks equaled $1( U.S.). At this time 6 milliarde (one
billion) marks were in circulation; in 1922, 200 milliarde marks
circulated. By mid-1923 it took the unbelievable figure of
154,000 marks to purchase one U.S. greenback. By the end of
that year $1 was equal to 4 billionen (trillion) marks.
One German note for 1000 marks, with the portrait of Mint-
master J. Herz by artist G. Penz, was overprinted with the value
of one milliarde marks when it was issued because the infla-
tion continued to accelerate. An acceptable example of this
note, P(ick) 113, can be purchased for $5 or less. There are
other examples for even less.
There are some heartbreaking stories that accompany this
period in Germany. One relates to a moderately wealthy young
lady who went to Switzerland for her health. After her arrival
her lawyer wrote and suggested that due to the inflation it
would be advisable for her to remove her funds from her bank.
Months later her bank wrote her in care of her home address
in Germany to say that her account was approaching the mini-
mum balance. When she returned home later, she found the
letter and a more recent one. The second letter informed her
that her account had been closed and the entire balance was
used to purchase the postage stamp on the letter.
At the peak of this hyperflationary period in 1923, approxi-
mately 42,000,000,000 German paper marks equaled one U.S.
cent. One pound of meat cost 1,500,000,000,000 marks; a
loaf of bread required 500,000,000,000 marks; one egg cost
180,000,000,000 marks. So, as you might imagine, most Ger-
man bank accounts became worthless.
There is a bonus that one receives when some of these notes
are added to your collection. The 10,000 mark notes, P 70-73,
bear the portrait of a man by the famous German artist Albrecht
Dilrer. The 50,000 mark notes, P79 & 80, have a portrait of
Burgermaster Brauweiler by B. Bruyn. Each of these notes can
be purchased for $1 or less. With the 100,000 mark note, P83,
you receive a portrait of Merchant Gisze by Hans Holbein; the
cost, a few dollars.
The effects of World War II brought serious inflation to
China, Greece and Hungary. By 1946 the inflation rate in China
was increasing by 50% each month. An American $1, which
had been at par with the Chinese yuan, in 1946 required 2,020
yuan in exchange, and the exchange rate continued to grow.
Many of these Chinese notes, especially the custom gold unit
notes had beautiful engraved portraits of Sun yat-sen, revolu-
tionary hero who was elected in 1911 as the first president of
the Chinese Republic. Many Chinese notes from the 1940s are
available for very little.
In early 1941one British sovereign was equal to 1,200 Greek
drachmai (dr.). Toward the end of 1943 the rate of exchange
was 1,286,000, and by the end of 1944 it took
205,000,000,000,000 to purchase one British sovereign. In
1940 there were 12 billion Greek dr. in circulation; in 1944
that figure had grown to 6,500,000,000,000,000,000.
Many Greek notes from this period bear images of Greek
art: the Victory of Samothrace on the 5,000 dr., P119; Athena on
the 25,000 dr., P123; Deidamia on the 500,000 dr., P126; and
Zeus on the 5 million dr., P128.
The bank notes that represent the hyperinflation in Hun-
gary and cost a few dollars each are those listed as P117-120
and P122-135. The last note, P135, dated 1946 is for 10,000
billion pengo. By July of 1946 Hungary was drowning in bank
notes that equaled 76,047,075,417,532 billion pengo; this
entire amount was equal to only $23,245. There is a famous
photograph that shows a railway porter in Budapest lighting
his pipe with a 10,000 pengo note. That picture is worth 10,000
This gives a brief account of the inflations in the early to
mid-20th century, and the collectible notes that represent these
troubled economic and political times. Next month we will
take a look at the bank notes that came from some recent in-
flations in other countries including South America, the former
Yugoslavia and Zaire.
(Copyright story reprinted by permission from Coin World, April 24,
Lau ,roNNeNattlionat 11.44'imMk
Paper Money Whole No. 193 Page 25
WHAT THE DEUCE!
by CHARLES A. DEAN and DON C. KELLY
We have listed the state, charter number, title, town and
type. Bank and Treasury serial numbers are given. All known
Lazy Twos have plate position letter A. There were four banks
that issued notes in the $1-$1-$2-$2 format, placing a grand
total of 18,220 deuces with position letter B into circulation.
However, no position B note has been reported.
We have tried to minimize duplication by not listing any
note for which serial numbers are unknown unless the grade or
other information implies that the note is different from any
others listed for the same bank. This report will be updated
when the census total reaches 1500. Go ahead, send 'em in.
Dean, C.A. Those lazy twos. PAPER MONEY, Whole No 70, 1977
Several years ago one of the authors shared his observa-
tions of "Lazy Twos" with the readers of PAPER MONEY
(Dean 1977). That article inspired the other author to
begin taking special notice of $2 national bank notes.
Nearly twenty years later our census is approaching the
1200-note marker and we decided to share our findings.
Our current thinking is that the total number of surviv-
ing Lazy Twos is approximately 1500. We have not know-
ingly listed any counterfeits. The listing presented here
totals 1179. The authors earnestly ask our readers' help
in raising the total. The best way to add to the listing is
with a photocopy or photo of the note. Otherwise, please
send, to either author, the bank title, town
and state, the charter number, Orig or
1875, both serial numbers, and the con-
dition. [Charles A. Dean Box 140262
Nashville, TN 37214; Don. C. Kelly Box
85 Oxford, OH 45056]
HE first national bank notes were is-
sued December 21, 1863. Notes of $1
and $2 were authorized by the Act of
June 3, 1864, by which time a problem had
become evident. The National Bank Act of
February 25, 1863 indirectly created a need
for $1 and $2 nationals. The outbreak of the
Civil War was quickly followed by the suspension of
specie payments. National banks had to maintain cash
reserves ranging from 15 to 25 percent of their circula-
tion. This could be in hard money or United States
notes. As a result United States Notes of all denomina-
tions, incuding $1 and $2 notes, ended up in the bank's
safe while the nationals went into circulation. The is-
sue of $1 and $2 nationals compensated for the re-
duced supply of $1 and $2 United States notes.
The Lazy Two had a short lifespan. The first notes
were issued April 1, 1865 to the First National Bank of
Akron, Ohio (Charter 27). Among the specifications
of the Act of March 3, 1875 was the provision that
national banks notes of denomination less than $5
not be issued once specie payments resumed. The last
Lazy Twos were issued January 22, 1879, following the
resumption of specie payments on January 1, 1879.
A total of nearly eight million Lazy Twos were is-
sued. By 1898 all but 84,000 had been redeemed. In
the next 60 years fewer than 4,000 were redeemed. In
view of our study it seems unlikely that there are more
than 2,000 Lazy Twos for us to collect so we must pre-
sume that approximately 78,000 were lost or destroyed.
This amounts to one percent of the notes issued. Take
good care of the survivors, please!
Charter Title/Town Type Serial/Grade
1016 FNB OF DENVER Orig 1 VF
1651 COLORADO NB OF DENVER Orig 1049 Fine
1651 COLORADO NB OF DENVER Orig 1050 Fine
1651 COLORADO NB OF DENVER Orig 1621
1651 COLORADO NB OF DENVER Orig 1694 XF-AU
1651 COLORADO NB OF DENVER Orig 1700 CU
1651 COLORADO NB OF DENVER Orig 3120 CU
1833 FNB OF PUEBLO Orig 679 CU
Number of Deuces for CO 8
4 FNB OF STAMFORD Orig 390 XF
4 FNB OF STAMFORD Orig 994 Fine
4 FNB OF STAMFORD Orig 3548
4 FNB OF STAMFORD Orig 7642 G-VG
4 FNB OF STAMFORD 1875 3591 VF
121 FNB OF HARTFORD Orig 7021 Fine
121 FNB OF HARTFORD 1875 585 VF
250 FNB OF WEST MERIDEN Orig 2331 VG-F
361 N EXCHANGE B OF HARTFORD Orig 848 XF
361 N EXCHANGE B OF HARTFORD 1875 1299 VG-F
361 N EXCHANGE B OF HARTFORD 1875 1592 VG
361 N EXCHANGE B OF HARTFORD 1875 1871 VG
394 FNB OF WESTPORT 1875 951 Fine
Page 26 Paper Money Whole No. 193
Charter Title/Town Type Serial/Grade Charter Title/Town Type Serial/Grade
CT 483 CITY NB OF CEDAR RAPIDS Orig 2621 Fine
394 FNB OF WESTPORT 1875 6871 Fine 650 FNB OF NEWTON Orig 2075 Good
450 FNB OF KILLINGLY AT WEST 1875 673 Good 1475 FNB OF FAIRFIELD Orig 4675 VG
450 FNB OF KILLINGLY AT WEST 1875 677 VG-F 1479 FNB OF COUNCIL BLUFFS Orig I VG
458 FNB OF NORWICH Orig 1292 Good 1661 FNB OF FORT DODGE Orig Good
486 CHARTER OAK NB OF HARTFORD Orig 2364 VG 1661 FNB OF FORT DODGE Orig 436 VF
486 CHARTER OAK NB OF HARTFORD Orig 4929 Fine 1671 CITIZENS NB OF DAVENPORT Orig 610 VG-F
486 CHARTER OAK NB OF HARTFORD 1875 114 Fine 1671 CITIZENS NB OF DAVENPORT Orig 5316 VF
657 THAMES NB OF NORWICH Orig 16752 Good 1744 MERCHANTS NB OF BURLINGTON Orig
660 SOUTHPORT NB, SOUTHPORT Orig 2329 VG 1810 FNB OF CHARLES CITY Orig 1 XF
660 SOUTHPORT NB, SOUTHPORT Orig 3666 Good 1811 FNB OF INDIANOLA Orig 1808 VG
670 PHOENIX NB OF HARTFORD Orig F-VF 1811 FNB OF INDIANOLA Orig 2241
670 PHOENIX NB OF HARTFORD Orig 20523 VG-F 1986 MARION COUNTY NB OF Orig 795 Fair
686 STAFFORD NB OF STAFFORD 1875 584 VG 1986 MARION COUNTY NB OF 1875 938 VG-F
709 FNB OF LITCHFIELD Orig Fine 1992 KEOKUK NB, KEOKUK Orig 1656 Fine
735 FNB OF STONINGTON 1875 VF 2028 FNB OF CLARINDA Orig Fine
735 FNB OF STONINGTON 1875 1492 Fine 2080 MONTICELLO NB, MONTICELLO Orig 1 XF
735 FNB OF STONINGTON 1875 1861 VG 2177 FNB OF CEDAR FALLS Orig 544 XF-AU
791 CITIZENS NB OF WATERBURY Orig 5170 Fine 2215 FNB OF MONROE Orig I XF
791 CITIZENS NB OF WATERBURY Orig 5171 F-VF Number of Deuces for IA 24
919 PAWCATUCK NB, PAWCATUCK Orig VF
943 DANBURY NB, DANBURY
978 N WHALING B OF NEW LONDON Orig 7755 F-VF ID
1037 NEW LONDON CITY NB, NEW Orig 40 XF-AU 1668 FNB OF IDAHO, BOISE CITY Orig 2 Good
1037 NEW LONDON CITY NB, NEW 1875 101 Fine Number of Deuces for ID 1
1037 NEW LONDON CITY NB, NEW 1875 146 AU
1037 NEW LONDON CITY NB, NEW
1093 ANSONIA NB, ANSONIA
1875 197 Fine
1098 BIRMINGHAM NB, BIRMINGHAM Orig 2616 XF 108 FNB OF ROCK ISLAND Orig
1098 BIRMINGHAM NB, BIRMINGHAM Orig 3362 XF 205 FNB OF SPRINGFIELD Orig VG
1175 N UNION B OF NEW LONDON Orig 286 CU 236 THIRD NB OF CHICAGO Orig 1877 Fine
1175 N UNION B OF NEW LONDON 0 rig 972 AU 236 THIRD NB OF CHICAGO Orig 10812 G-VG
1187 UNCAS NB OF NORWICH Orig 1642 Good 276 FOURTH NB OF CHICAGO Orig 1 XF
1187 UNCAS NB OF NORWICH Orig 3023 VG 320 FIFTH NB OF CHICAGO Orig 8522 Fine
1187 UNCAS NB OF NORWICH Orig 3702 VG 339 FNB OF BATAVIA Orig 1561 Fine
1321 FARMERS & MECHANICS NB OF 1875 2233 XF 385 SECOND NB OF FREEPORT Orig
1321 FARMERS & MECHANICS NB OF 1875 6509 VG 415 FNB OF CANTON Orig 675 VF
1338 HARTFORD NB, HARTFORD Orig 17040 AU 441 FNB OF PERU Orig Good
1340 CENTRAL NB OF MIDDLETOWN Orig 484 XF 531 GRUNDY COUNTY NB OF MORRIS Orig 3634 CU
1360 WINDHAM COUNTY NB OF Orig 498 Fine 534 FNB OF GENESEO Orig
1360 WINDHAM COUNTY NB OF 1875 1266 Fine 713 COMMERCIAL NB OF CHICAGO Orig
1360 WINDHAM COUNTY NB OF 1875 1275 VG-F 763 FNB OF CHARLESTON Orig 39 XF
1377 CITY NB OF HARTFORD Orig Good 827 FNB OF GALVA Orig
1377 CITY NB OF HARTFORD 1875 2237 XF 831 NB OF GALENA 1875 VG
1379 SHETUCKET NB OF NORWICH Orig 1062 VF 902 LEE COUNTY NB OF DIXON 1875 704 VG
1385 TOLLAND COUNTY NB, TOLLAND Orig 4801 Fine 966 TRADERS NB OF CHICAGO Orig VG
1494 HURLBUT NB OF WINSTED 1875 Good 979 MERCHANTS NB OF GALENA 1875 486
Number of Deuces for CT 59 1024 FNB OF MATTOON Orig
1428 ALTON NB, ALTON Orig 3386 G-VG
DC 1428 ALTON NB, ALTON Orig 3415 VG
526 NB OF THE METROPOLIS OF Orig 838 VG 1428 ALTON NB, ALTON Orig 3426 Good
875 NB OF THE REPUBLIC OF Orig 39 G-VG 1428 ALTON NB, ALTON Orig 3457 VF
Number Of Deuces for DC 2 1428 ALTON NB, ALTON Orig 3493 Good
1428 ALTON NB, ALTON Orig 3507 AU
DE 1428 ALTON NB, ALTON Orig 3516 Fine
1181 CITIZENS NB OF MIDDLETOWN Orig 39 Fine 1428 ALTON NB, ALTON Orig 3535 VG-F
1181 CITIZENS NB OF MIDDLETOWN Orig 41 VF 1428 ALTON NB, ALTON Orig 3607 VG
1281 NEW CASTLE COUNTY NB OF Orig 3922 VG-F 1428 ALTON NB, ALTON Orig 3636 VF
1281 NEW CASTLE COUNTY NB OF 1875 VG 1428 ALTON NB, ALTON Orig 3665 VG
Number of Deuces for DE 4 1428 ALTON NB, ALTON Orig 3680 Fine
1428 ALTON NB, ALTON Orig 3697
IA 1428 ALTON NB, ALTON Orig 3703
15 FNB OF DAVENPORT Orig
1079 1428 ALTON NB, ALTON Orig 3709 Fair
15 FNB OF DAVENPORT Orig 2002 VG 1428 ALTON NB, ALTON Orig 3725 Good
66 FNB OF LYONS Orig 1428 ALTON NB, ALTON Orig 3729 VG
323 FNB OF MCGREGOR Orig 1284 VG 1428 ALTON NB, ALTON Orig 3739 VG
405 FNB OF LANSING Orig 1215 Fine 1428 ALTON NB, ALTON Orig 3755 VG
Paper Money Whole No. 193 Page 27
Charter Title/Town Type Serial/Grade Charter Title/Town Type Serial/Grade
IL 699 FNB OF AURORA Orig VG
1428 ALTON NB, ALTON Orig 3765 G-VG 701 FNB OF NEW ALBANY Orig
1445 FNB OF ALTON Orig 4709 793 MUNCIE NB, MUNCIE Orig
FNB OF RUSHVILLE Orig 6151 VG-F 794 FNB OF MARTINSVILLE Orig 1796 VG
1484 FNB OF WINCHESTER Orig 3683 VG 804 FNB OF NEW CASTLE Orig 1532 XF
1641 FNB OF OLNEY Orig 2868 G-VG 869 MERCHANTS NB OF Orig Good
1717 FNB OF STERLING Orig 930 N STATE B OF LAFAYETTE 1875 VF
1775 GALLATIN NB OF SHAWNEETOWN Orig VG 984 INDIANA NB OF INDIANAPOLIS Orig Fine
1775 GALLATIN NB OF SHAWNEETOWN Orig 1462 VF 1102 RICHMOND NB, RICHMOND Orig
1775 GALLATIN NB OF SHAWNEETOWN Orig 4305 F-VF 1103 N STATE B OF TERRE HAUTE Orig
1791 FARMERS NB OF BUSHNELL Orig 1 Good 1873 FNB OF VINCENNES Orig
1792 UNION NB OF AURORA Orig 1722 G-VG 1878 MERIDIAN NB OF INDIANAPOLIS Orig 1882 VG-F
1816 ROCKFORD NB, ROCKFORD 1875 72 Fine 1892 BEDFORD NB, BEDFORD Orig 1719 Good
1821 PEOPLES NB OF WINCHESTER Orig 1949 FNB OF DELPHI Orig 2632 VG-F
1821 PEOPLES NB OF WINCHESTER 0 rig 901 AU 1949 FNB OF DELPHI Orig 3929 G-VG
1867 NB OF ILLINOIS, CHICAGO Orig 1 XF 2057 FNB OF LEBANON Orig 400 CU
1882 WILL COUNTY NB OF JOLIET Orig 1885 Fine 2057 FNB OF LEBANON Orig 425 CU
1889 ROCK ISLAND NB, ROCK ISLAND Orig 2057 FNB OF LEBANON Orig 427 CU
1907 ROCHELLE NB, ROCHELLE Orig XF 2057 FNB OF LEBANON Orig 429 CU
1961 FNB OF FLORA 1875 140 Fine 2057 FNB OF LEBANON Orig 1481 F-VF
1964 MINERS NB OF BRAIDWOOD Orig Good 2090 RICHMOND NB, RICHMOND 1875 1272 F-VF
1964 MINERS NB OF BRAIDWOOD orig 195 Fine 2119 FNB OF MARSHALL COUNTY AT Orig 39 Good
2011 FNB OF KANSAS Orig 2848 CU 2119 FNB OF MARSHALL COUNTY AT 1875 223 XF-AU
2011 FNB OF KANSAS Orig 2852 CU 2119 FNB OF MARSHALL COUNTY AT 1875 305 Fine
2011 FNB OF KANSAS Orig 2853 CU 2119 FNB OF MARSHALL COUNTY AT 1875 390 XF-AU
2011 FNB OF KANSAS Orig 2856 CU 2208 FNB OF MONTICELLO Orig 1 Fair
2016 HOME NB OF ELGIN Orig 3700 Fine Number of Deuces for IN 42
2048 HOME NB OF CHICAGO Orig 22 VF
2048 HOME NB OF CHICAGO Orig 35 G-VG
2100 EDGAR COUNTY NB OF PARIS Orig Good KS
2124 DECATUR IL, DECATUR Orig 4529 VG 1763 FNB OF FORT SCOTT Orig 1203 Fine
2126 FNB OF LINCOLN Orig 957 CU 1864 FNB OF PAOLA 0 rig CU
2126 FNB OF LINCOLN Orig 959 CU 1864 FNB OF PAOLA Orig 1817 VF
2126 FNB OF LINCOLN Orig 966 CU 1915 FNB OF EMPORIA 1875 1672 VG
2126 FNB OF LINCOLN Orig 970 CU 1915 FNB OF EMPORIA 1875 1674 VF
2126 FNB OF LINCOLN Orig 973 CU 1915 FNB OF EMPORIA 1875 1834 VG
2126 FNB OF LINCOLN Orig 975 CU 1915 FNB OF EMPORIA 1875 1886 VG
2126 FNB OF LINCOLN Orig 1024 AU 1915 FNB OF EMPORIA 1875 1910 VF
2126 FNB OF LINCOLN Orig 1156 VF 1915 FNB OF EMPORIA 1875 1912 Fine
2126 FNB OF LINCOLN Orig 1167 CU 1915 FNB OF EMPORIA 1875 1915 CU
2126 FNB OF LINCOLN Orig 1169 1915 FNB OF EMPORIA 1875 1918
2126 FNB OF LINCOLN Orig 1172 CU 1915 FNB OF EMPORIA 1875 1923 VG-F
2126 FNB OF LINCOLN Orig 1174 CU 1915 FNB OF EMPORIA 1875 1925 XF
2126 FNB OF LINCOLN Orig 1177 CU 1915 FNB OF EMPORIA 1875 1929 VG
2126 FNB OF LINCOLN Orig 1196 AU 1915 FNB OF EMPORIA 1875 1941 VG
2126 FNB OF LINCOLN Orig 1198 CU 1915 FNB OF EMPORIA 1875 1946 Fine
2126 FNB OF LINCOLN Orig 1202 CU 1915 FNB OF EMPORIA 1875 1961 G-VG
2154 FNB OF BELLEVILLE Orig 1 Fine 1915 FNB OF EMPORIA 1875 1983 VG
Number of Deuces for IL 86 1915 FNB OF EMPORIA 1875 1995 Fine
1915 FNB OF EMPORIA 1875 3640 CU
IN 1945 TOPEKA NB, TOPEKA Orig CU
11 FNB OF FORT WAYNE Orig 11890 VC 1945 TOPEKA NB, TOPEKA Orig 3001 VF
17 FNB OF RICHMOND Orig Good 1945 TOPEKA NB, TOPEKA Orig 3142 VG
37 FNB OF CENTERVILLE Orig 3750 Fine 1979 BURLINGTON NB, BURLINGTON Orig VG
41 FNB OF KENDALLVILLE 1875 220 Fair 1979 BURLINGTON NB, BURLINGTON 1875 128 G-VG
55 FNB OF INDIANAPOLIS Orig 947 AU 1983 EMPORIA NB, EMPORIA Orig 1865 Fine
55 FNB OF INDIANAPOLIS 1875 1567 VF 2082 ATCHISON NB, ATCHISON Orig 598 VF
55 FNB OF INDIANAPOLIS 1875 1820 VG 2094 FNB OF MANHATTAN Orig 1415 VF
70 FNB OF CAMBRIDGE CITY Orig 541 Fine Number of Deuces for KS 28
82 FNB OF LAWRENCEBURG Orig 1085 VG
366 FNB OF MOUNT VERNON Orig 1008 Fine
Orig 5600 VF KY417 SECOND NB OF LAFAYETTE
571 FNB OF CRAWFORDSVILLE Orig 718 FNB OF COVINGTON 1875 6782 VG
581 INDIANAPOLIS NB, Orig 5263 G-VG 788 LOUISVILLE CITY NB, Orig 882 VG
581 INDIANAPOLIS NB, Orig 6364 Fine 788 LOUISVILLE CITY NB, Orig 1925 VG
617 CITIZENS NB OF INDIANAPOLIS Orig VG-F 995 CLARK COUNTY NB OF Orig 527 Fine
617 CITIZENS NB OF INDIANAPOLIS Orig 7224 XF 1204 NB OF STANFORD 1875 1650 VG
Page 28 Paper Money Whole No. 193
Charter Title/Town Type Serial/Grade Charter Title/Town Type Serial/Grade
KY 524 CONTINENTAL NB OF BOSTON Orig Good
1309 FARMERS NB OF RICHMOND 1875 304 Good 524 CONTINENTAL NB OF. BOSTON 1875 F-VF
1702 NB OF MAYSVILLE Orig 524 CONTINENTAL NB OF BOSTON 1875 11834 Fine
1831 FNB OF NICHOLASVILLE 1875 296 Fine 524 CONTINENTAL NB OF BOSTON 1875 23750 CU
1847 GERMAN NB OF COVINGTON 1875 351 CU 524 CONTINENTAL NB OF BOSTON 1875 23751 XF
1847 GERMAN NB OF COVINGTON 1875 352 CU 524 CONTINENTAL NB OF BOSTON 1875 23753 CU
1847 GERMAN NB OF COVINGTON 1875 355 CU 525 NORTH NB OF BOSTON Orig 4056 VF
1847 GERMAN NB OF COVINGTON 1875 508 VF 525 NORTH NB OF BOSTON 1875 817 XF-AU
1847 GERMAN NB OF COVINGTON 1875 623 VG 545 BOYLSTON NB OF BOSTON Orig F-VF
1859 COVINGTON CITY NB, Orig 320 Good 545 BOYLSTON NB OF BOSTON Orig 2335 Fine
2010 ASHLAND NB, ASHLAND 1875 2079 VG 545 BOYLSTON NB OF BOSTON Orig 8345 VG
2062 GERMAN NB OF LOUISVILLE Orig VG 545 BOYLSTON NB OF BOSTON 1875 XF
2062 GERMAN NB OF LOUISVILLE Orig 14 AU 551 BROADWAY NB OF BOSTON 1875 1182 CU
2062 GERMAN NB OF LOUISVILLE Orig 16 AU 554 NB OF COMMERCE, BOSTON 1875 VG
2062 GERMAN NB OF LOUISVILLE Orig 1483 VG 578 HOWARD NB OF BOSTON 1875 VG
2070 AMERICAN GERMAN NB OF Orig 53 Good 578 HOWARD NB OF BOSTON 1875 162 VG
Number of Deuces for KY 20 578 HOWARD NB OF BOSTON 1875 1082 CU
578 HOWARD NB OF BOSTON 1875
LA 578 HOWARD NB OF BOSTON 1875 1317 VF
1774 STATE NB OF NEW ORLEANS Orig 1902 582 SHAWMUT NB OF BOSTON 1875 Fine
Number of Deuces for LA 1 582 SHAWMUT NB OF BOSTON 1875 13701 Fair
584 MECHANICKS NB OF Orig VF-XF
584 MECHANICKS NB OF
594 FNB OF DANVERS
181 SECOND NB OF SPRINGFIELD Orig 861 VF-XF 595 PEOPLES NB OF ROXBURY,
256 FNB OF FALL RIVER Orig Good 603 NEW ENGLAND NB OF BOSTON 1875 1083 Fair
256 FNB OF FALL RIVER Orig 2730 VF 603 NEW ENGLAND NB OF BOSTON 1875 13054 AU
256 FNB OF FALL RIVER Orig 21017 XF 603 NEW ENGLAND NB OF BOSTON 1875 13307 G-VG
261 FNB OF NEW BEDFORD 1875 6529 VG 609 N CITY B OF BOSTON Ong Good
261 FNB OF NEW BEDFORD 1875 7201 AU 609 N CITY B OF BOSTON Orig 8624 XF
261 FNB OF NEW BEDFORD 1875 7202 AU 609 N CITY B OF BOSTON Orig 10951 VG
261 FNB OF NEW BEDFORD 1875 7203 CU 609 N CITY B OF BOSTON Orig 13102 AU
261 FNB OF NEW BEDFORD 1875 7206 CU 614 LECHMERE NB OF EAST 1875 264 VF-XF
261 FNB OF NEW BEDFORD 1875 7209 AU 615 N ROCKLAND B OF ROXBURY, Orig Good
261 FNB OF NEW BEDFORD 1875 12717 CU 616 WARREN NB OF SOUTH DANVERS Orig 3173 VG
322 SECOND NB OF BOSTON Orig 625 TREMONT NB OF BOSTON Orig 3668 AU
331 FNB OF LOWELL Orig Good 625 TREMONT NB OF BOSTON Orig 5648 VF
331 FNB OF LOWELL 1875 931 Fine 625 TREMONT NB OF BOSTON Orig 6062 VG
359 THIRD NB OF BOSTON Orig Fair 625 TREMONT NB OF BOSTON Orig 7740 Fine
359 THIRD NB OF BOSTON Orig 8669 VG 625 TREMONT NB OF BOSTON Orig 8159 CU
383 FNB OF NORTHAMPTON 1875 5981 Fine 625 TREMONT NB OF BOSTON Orig 11532 F-VF
393 FNB OF AMHERST Orig 1877 VG 625 TREMONT NB OF BOSTON 1875 AU
408 BOSTON NB IN BOSTON Orig Fine 626 HOPKINTON NB, HOPKINTON 1875 736 AU
408 BOSTON NB IN BOSTON Orig 21274 VG-F 638 FNB OF LYNN 1875 6997 F-VF
408 BOSTON NB IN BOSTON 1875 CU 643 ATLANTIC NB OF BOSTON 1875 257 VG-F
408 BOSTON NB IN BOSTON 1875 Good 643 ATLANTIC NB OF BOSTON 1875 1151 XF-AL
408 BOSTON NB IN BOSTON 1875 3588 CU 663 NEPONSET NB OF CANTON 1875 3461 Fine
408 BOSTON NB IN BOSTON 1875 3857 VG 669 DEDHAM NB OF DEDHAM Orig Fair
416 FNB OF EASTON, NORTH EASTON Orig XF 669 DEDHAM NB OF DEDHAM Orig 8585 AU
416 FNB OF EASTON, NORTH EASTON Orig 6247 AU 672 NB OF NORTH AMERICA, BOSTON Orig 7476 Fine
416 FNB OF EASTON, NORTH EASTON Orig 10467 Fine 672 NB OF NORTH AMERICA, BOSTON Orig 9176 XF
416 FNB OF EASTON, NORTH EASTON 1875 VG 672 NB OF NORTH AMERICA, BOSTON 1875 4 AU
421 FNB OF WESTBORO 1875 F-VF 672 NB OF NORTH AMERICA, BOSTON 1875 7 CU
439 SECOND NB OF FALL RIVER Orig Good 672 NB OF NORTH AMERICA, BOSTON 1875 10 G-VG
442 WORCESTER NB, WORCESTER Orig 8315 Fine 677 MAVERICK NB OF BOSTON Orig 21149 XF
460 N HIDE & LEATHER B OF Orig 7053 Fair 679 POCASSET NB OF FALL RIVER Orig 14260 Fine
460 N HIDE & LEATHER B OF Orig 10688 VF-XF 688 WALTHAM NB, WALTHAM Orig VG
460 N HIDE & LEATHER B OF Orig 12790 Fine 690 NB OF COMMERCE, NEW BEDFORD
460 N HIDE & LEATHER B OF 1875 2696 G-VG
690 NB OF COMMERCE, NEW BEDFORD Orig 6535 XF460 N HIDE & LEATHER B OF 1875 7883 VG
460 N HIDE & LEATHER B OF 1875 9461 Good 691 MERCANTILE NB OF SALEM
462 FNB OF ADAMS Orig 4564 G-VG 712 CAPE COD NB OF HARWICH Orig Fine
474 FNB OF GREENFIELD Orig 2060 VF 712 CAPE COD NB OF HARWICH 1875 4377 F-VF
484 HAVERHILL NB, HAVERHILL 1875 994 Fair 712 CAPE COD NB OF HARWICH 1875 4629
484 HAVERHILL NB, HAVERHILL 1875 1082 F-VF 714 PACIFIC NB OF NANTUCKET 1875 355 VF
490 NB OF FAIRHAVEN Orig 4483 VG 726 MERCHANTS NB OF SALEM
510 UNION NB OF WEYMOUTH 1875 698 VG-F 731 CHARLES RIVER NB OF Orig 1584 Fine
Paper Money Whole No. 193 Page 29
Charter Title/Town Type Serial/Grade Charter Title/Town Type
MA 1939 HOLYOKE NB, HOLYOKE 1875 1339 VG-F
743 MECHANICS NB OF NEW BEDFORD Orig 352 Fine 1939 HOLYOKE NB, HOLYOKE 1875 2050 Fine
753 RAILROAD NB OF LOWELL 1875
3429 Good 2103 CENTRAL NB OF BOSTON Orig 1 AU
766 BRISTOL COUNTY NB OF Orig 4633 VF 2103 CENTRAL NB OF BOSTON Orig 36 AU
767 MARBLEHEAD NB OF MARBLEHEAD 1875 VG 2103 CENTRAL NB OF BOSTON Orig 661 F-VF
781 WAMESIT NB OF LOWELL 1875 275 Fine 2111 MANUFACTURERS NB OF BOSTON Orig 632 VG
781 WAMESIT NB OF LOWELL 1875 1484 G-VG 2112 FIRST WARD NB OF BOSTON Orig 2840 XF
799 MERCHANTS NB OF NEW BEDFORD Orig 2113 FNB OF ASHBURNHAM Orig 787 VG
824 GRAFTON NB, GRAFTON 1875 VF 2265 WACHUSETT NB OF FITCHBURG 1875 238 XF
824 GRAFTON NB, GRAFTON 1875 209 VF 2275 HOME NB OF MILFORD 1875 5075 VG
824 GRAFTON NB, GRAFTON 1875
257 VG 2275 HOME NB OF MILFORD 1875 5086 CU
847 FANEUIL HALL NB OF BOSTON Orig VF 2275 HOME NB OF MILFORD 1875 5087 CU
847 FANEUIL HALL NB OF BOSTON 1875 6996 AU 2275 HOME NB OF MILFORD 1875 5151
847 FANEUIL HALL NB OF BOSTON 1875 16055 Fine 2275 HOME NB OF MILFORD 1875 5152 AU
899 CAPE ANN NB OF GLOUCESTER Orig Good 2275 HOME NB OF MILFORD 1875
899 CAPE ANN NB OF GLOUCESTER Orig 3301 VG 2275 HOME NB OF MILFORD 1875 5159
899 CAPE ANN NB OF GLOUCESTER Orig 4619 VG-F 2275 HOME NB OF MILFORD 1875 5163 CLI
899 CAPE ANN NB OF GLOUCESTER 1875 894 VF 2275 HOME NB OF MILFORD 1875 5164 CLI
918 LEICESTER NB, LEICESTER Orig Fair 2275 HOME NB OF MILFORD 1875 5291 VG
920 FRANKLIN COUNTY NB OF 1875 270 VF 2275 HOME NB OF MILFORD 1875 5432 Good
932 MECHANICS NB OF BOSTON Orig 788 F-VF 2275 HOME NB OF MILFORD 1875 5436 CU
934 SOUTHBRIDGE NB, SOUTHBRIDGE Orig 2802 VF 2275 HOME NB OF MILFORD 1875 5437 CU
947 MACHINISTS NB OF TAUNTON Orig XF 2275 HOME NB OF MILFORD 1875 5439 CU
947 MACHINISTS NB OF TAUNTON Orig 4339 VG-F 2275 HOME NB OF MILFORD 1875 5444 CU
957 TAUNTON NB, TAUNTON Orig 8650 Fine 2304 MERCHANDISE NB OF BOSTON 1875 18 CU
957 TAUNTON NB, TAUNTON 1875 390 VG-F 2304 MERCHANDISE NB OF BOSTON 1875 5282 VG
957 TAUNTON NB, TAUNTON 1875 7521 F-VF 2304 MERCHANDISE NB OF BOSTON 1875 6407 CU
958 SOUTH DANVERS NB OF PEABODY 1875 2361 VG 2304 MERCHANDISE NIB OF BOSTON 1875 6410 AU
960 PRESCOTT NB OF LOWELL 1875 3523 Fine 2304 MERCHANDISE NB OF BOSTON 1875 6413 CU
974 MASSACHUSETTS NB OF BOSTON Orig XE-AU 2304 MERCHANDISE NB OF BOSTON 1875 6416 XF
985 N UNION B OF BOSTON Orig VG 2373 PACIFIC NB OF BOSTON 1875 Fine
985 N UNION B OF BOSTON Orig 7590 AU Number of Deuces for MA 205
985 N UNION B OF BOSTON Orig 9878 AU
985 N UNION B OF BOSTON Orig 9880 CU
985 N UNION B OF BOSTON Orig 13573 F-VF MD
985 N UNION B OF BOSTON 1875 4280 Fair 1252 N FARMERS & PLANTERS B OF Orig 5164 Fine
986 APPLETON NB OF LOWELL Orig 8376 VG 1325 WESTERN NB OF BALTIMORE Orig 595 VG
993 N EAGLE B OF BOSTON Orig 14747 VF 1325 WESTERN NB OF BALTIMORE Orig 2630 VG
993 N EAGLE B OF BOSTON 1875 5193 VG 1413 N MECHANICS B OF BALTIMORE Orig 573 Fine
1018 NORTH HAMPTON NB OF 1875 2176 VG 1519 SECOND NB OF CUMBERLAND Orig 341 VG
1028 STATE NB OF BOSTON Orig 129 VG 1797 CENTRAL NB OF BALTIMORE Orig 1030
1028 STATE NB OF BOSTON Orig 5299 VG-F Number of Deuces for MD 6
1028 STATE NB OF BOSTON 1875 17555 XF
1029 COLUMBIAN NB OF BOSTON Orig Good ME
1029 COLUMBIAN NB OF BOSTON Orig 18157 VG 367 FNB OF AUGUSTA Orig CU
1029 COLUMBIAN NB OF BOSTON 1875 31563 Fine 744 WALDOBORO' NB, WALDOBORO' Orig 593 Fine
1055 AGAWAM NB OF SPRINGFIELD Orig VG-F 840 BELFAST NB, BELFAST Orig 4397 VG
1055 AGAWAM NB OF SPRINGFIELD Orig 1254 XF 840 BELFAST NB, BELFAST Orig 7760 VF
1082 AGRICULTURAL NB OF Orig VG 840 BELFAST NB, BELFAST Orig 8126 VF-XF
1082 AGRICULTURAL NB OF 1875 3661 G-VG 909 RICHMOND NB, RICHMOND Orig Fine
1085 NB OF WRENTHAM 941 CANAL NB OF PORTLAND Orig VG
1099 NB OF BRIGHTON, BOSTON Orig 2756 VF 1108 MEDOMAK NB OF WALDOBORO Orig XF
1107 FNB OF HYANNIS 1875 1017 XF-AU 1437 MERCHANTS NB OF BANGOR Orig Fine
1129 ANDOVER NB, ANDOVER Orig VG 2089 VEAZIE NB OF BANGOR Orig 1823 Fine
1129 ANDOVER NB, ANDOVER Orig 2240 Fine Number of Deuces for ME 10
1203 N MAHAIWE B OF GREAT Orig Fine
1203 N MAHAIWE B OF GREAT Orig 307
1207 WORCESTER COUNTY NB OF Orig VF MI
1207 FRANKLIN NB, FRANKLIN Orig 43 VF
116 SECOND NB OF DETROIT Orig 3441 VG
116 SECOND NB OF DETROIT Orig 12920 XF
1246 HADLEY FALLS NB OF HOLYOKE 1875 1456 XF
116 SECOND NB OF DETROIT Orig 13756 Good
1260 PITTSFIELD NB, PITTSFIELD Orig 5932 Fine 600 FNB OF THREE RIVERS 1875 436 Good
1260 PITTSFIELD NB, PITTSFIELD Orig 5949 Fine 825 FNB OF STURGIS Orig Good
1279 NORTH BOROUGH NB,
1295 N REVERE B OF BOSTON
1235 COLDWATER NB, COLDWATER
1247 FNB OF HOUGHTON
1295 N REVERE B OF BOSTON 1875 5693 F-VF
1295 N REVERE B OF BOSTON 1875 17547 XF To be continued
Page 30 Paper Money Whole No. 193
Tomorrow is Thanksgiving. I have a LOT to be thankful for, and I
sincerely hope YOU do, too. Last year was a wonderful year for the
paper money hobby, and 1998 promises to be just as exciting!
Roger Durand, former SPMC Treasurer, former SPMC President,
and current SPMC Librarian, was selected as a Numismatic Ambassa-
dor by Krause Publications in St. Louis. Most certainly a WELL-DE-
SERVED Honor! Congratulations, Roger!
Judith Murphy reported that the SPMC/CCCC meeting at Strasburg
went well. Stephen Goldsmith of R.M. Smythe arranged to have invi-
tations to the meeting prepared and sent to the SPMC members in
the area; thanks, Steve. Thanks also to Nancy and John Wilson for
what I'm told was an excellent presentation about Nicholas Biddle,
Andrew Jackson, and the Bank of the United States.
The SPMC Board met during the Professional Currency Dealers
Association show in St. Louis a couple of weeks ago. The publication
of Kentucky Obsolete Notes and Scrip will be delayed until this Spring,
due to production problems AND some "new discoveries" that we
wanted to include in the book. The Board voted to extend the order-
ing period for the book to April 1, 1998; the Board also voted to print
ONLY the number of books we have on order by April 1, 1998.
Sweet-talking Ray Ellenbogen reported that he "convinced" 11
former members to renew their memberships; he also announced
that he has other former members on his "radar screen," so we'll be
looking forward to his future reports.
Ron Horstman's layout for a new membership application was re-
ceived favorably, so we'll soon have some new forms for your use in
signing up new members! Ron presented an illustrated program,
"Missouri Territorial Bank Notes" to some 30 SPMC members and
guests at our general meeting.
Librarian Roger Durand reported that he will soon have a "want
list" of titles needed for your SPMC Library. In the meantime, if you
have some BOOKS you'd consider donating, send a list of the titles
(NOT THE BOOKS) to Roger. Donations to the SPMC ARE tax-de-
Frank Bennett reports that the 1929 Nationals Project is gathering
steam; the first update in seven years appeared in the September/
October issue, and reports of new charters and denominations are
rolling in! Thanks to all of you who have taken the time and made
the effort to report notes-your fellow members appreciate it! Is there
enough interest out there to warrant a REVISED edition of the SPMC
classic, The National Bank Note Issues of 1929 -1935? The second edi-
tion in my library was published in 1973 . .
Regional Events Coordinator Judith Murphy reports that she has
"persuaded" the following folks to speak at upcoming SPMC func-
tions: Ray Waltz, FUN, Orlando: "Emergency Issues of the Civil War";
Bill Brandimore, CPMX, Chicago: "Wisconsin Territorials" and
Wendell Wolka, ANA Midyear: "Bank of the State of Ohio."
If you're at any or all of these shows, do YOURSELF a favor and go
listen to these folks speak. Y'know, in some hobby groups you have
to PAY to hear experts speak; these presentations are FREE!
Let's see if I can sneak an "attaboy" past Gene Hessler: Did you
know that this journal you're reading was selected AGAIN as the best
"Club Publication" in ALL of numismatics by the American Numis-
matic Association in 1997? If you enjoy the journal, thank Gene; he
puts a LOT of work into each issue, believe me.
There was some talk on the floor in St. Louis about the new "au-
thentication/grading" services. What do YOU think? I'd like to hear
I hope to attend the CPMX in Chicago; if you come, I'd like to
meet you in person!
SOCIETY OF PAPER MONEY COLLECTORS, INC.
STATEMENT OF CASH ACTIVITY
FOR THE THREE MONTHS AND YEAR ENDED
JUNE 30, 1997
Dues-New Members 2,030.00 4,770.00
Dues-1996 0.00 236.00
Dues-1997 6,303.00 30,723.00
Dues-Life Members 4,385.00 8,435.00
Advertising 2,958.80 9,676.57
Sale of Magazines 28.25 156.00
Sale of Index 0.00 10.00
Sale of Counterfeit Listing 19.30 38.60
Sale of Huntoon Book 2,885.00 7,843.92
Memphis Breakfast Ticket Sales 1,225.50 1,253.50
Contribution from PCDA 0.00 600.00
Interest on Investments 3,576.55 4,717.91
Interest on Checking Account 282.01 993.90
Total Cash Received 23,693.41 69,454.40
Printing of Magazine 9,182.54 27,178.70
Editorial Fees and Preparation
Costs-Magazine 3,104.15 14,439.95
Assistance-Secretary 480.00 780.00
Expenses-Secretary 821.32 1,080.70
Assistance-Membership Director 175.00 455.00
Assistance-Treasurer 600.00 600.00
Expenses-Treasurer 72.00 72.00
Expenses-Membership Director 58.55 211.65
Expenses-Activities Director 32.00 32.00
Life Membership Cards 0.00 287.15
Dues 0.00 33.00
Memphis Breakfast Expense 1,333.65 2,390.66
Expenses-1929 Nationals Project 205.68 205.68
Awards Expense 205.20 205.20
Library Expense 0.00 381.42
Expenses-Huntoon Book 0.00 586.71
Expenses-Kentucky Book 0.00 340.15
Total Cash Disbursements 16,270.09 49,279.97
Net Cash Received for the Period 7,423.32 20,174.43
Maturity of Bonds 32,700.00
Purchase of Investments (50,000.00)
Cash Balance at July 1, 1996 77,614.90
Cash Balance at June 30, 1997 80,489.33
SOCIETY OF PAPER MONEY COLLECTORS, INC.
STATEMENT OF FUND BALANCES
JUNE 30, 1997
50 50 DealersBourse & ExhibitionPublic Invited — Free Admission 50
25th Annual Show
The "Biggest" little
coin and paper
money show in
Pleasant St., Rt. 32
March 8, 1998
9 a.m. — 5 p.m.
Paper Money Whole No. 193
Cash on Hand at June 30, 1997 80,489.33
Total Funds 155,489.33
Less Committed Fund Balances:
Wismer/Publication Fund (24,912.65)
Life Membership Fund (54,450.52)
Total General Funds Available 76,126.16
Balance at July 1, 1996 17,154.59
Contributions Received 841.00
Sale of Huntoon Book 7,843.92
Cash Disbursements (926.86)
Balance at June 30, 1997 24,912.65
Life Membership Fund:
Balance at July 1, 1996 48,874.16
Cash Received 8,435.00
Interest Received 1,141.36
Dues Transfer to General Fund (4,000.00)
Balance at June 30, 1997 54,450.52
Balance Consists of:
Net Accumulated Cash and Interest 54,450.52
Tim Kyzivat, Treasurer
KENTUCKY BOOK DELAYED
Due to a plethora of information that was given to Steven K.
Whitfield, the editor of Kentucky Obsolete Notes & Scrip, after
publication was announced in PAPER MONEY No. 191, or-
ders will be accepted until 1 April 1998. The number of books
to be printed will be based on the orders received. To mini-
mize printing costs, the Society has chosen to publish the book
in softcover, or unbound for those who wish to have their
copy hardbound at a bindery. The dimension, 8 1/2 x 11, and
cataloging scheme of the book will follow previous Wismer
Project books published by the Society. The price of each copy
is $29.95—prepaid. Dealer lots of 12 copies are priced at
$240—prepaid. THESE PRICES INCLUDE SHIPPING. Checks
(payable to SPMC) should be sent to the SPMC Treasurer Mark
Anderson at 400 Court St., #1, Brooklyn, NY 11231.
LIFE MEMBERSHIP BONUS
While the supply lasts, sheets of engravings will be sent to
members who have paid the full amount of their life member-
ship. An anonymous donor makes this bonus possible.
NO. 192 CORRECTION
The following was deleted from the bottom of page 182,
"the LT Series of 1928C FA block mules, last of the SC
Series of . ."
A period should follow "mule" at the end of the third
complete paragraph on page 187. A phantom line was
on the original disk.
—4 .4 —4 —4 —4.4 —4 —4 .4.
"This is the Place"
for PAPER MONEY COLLECTORS in the Northeast to get
a jump on the Convention Season. Join us again this year for
the largest gathering of Paper Money Dealers and collectors
in the New York/New England Area.
....FEATURING THESE LEADING
PAPER MONEY DEALERS....
1. RaBenco...Fractionals, U.S. Nationals, Lg. & Sm. U.S.
9 . Doric Coins & Currency...U.S. Sc. Worldwide Coins and
3. Russell Kave...Obsolete Currency, Stocks and Bonds.
4. Denlv's of Boston.. All U.S. Paper Money and Obsolete
5. R.M. Smythe Sc. Co. ...U.S. & Foreign Currency, Stocks
6. The Paper Tiger (John Schwartz)...Sm. Size U.S. Currency.
7. Richard Reed...Banknotes of the World, Stocks and Bonds.
8. Roger Durand...I-Iistorical Banknotes and Banknote Pub-
9. Fred Fitch. Jr. ...Currency for the Collector.
10. M.S. Kazarkjian...U.S. Obsolete Currency, Old Checks.
11. Falmouth Stamp and Coin...Extensive Coin & Paper In -
12. Colony Coin...Collector Coins and Paper Money.
13. Harmony... (Bill Bannon)...Notgeld, Coins, Currency, To-
14. The Banker...(Bill Chisamore)...U.S. & World Coins and
.. PLUS 35 OTHER PAPER MONEY, COIN, TOKEN AND EPHEMERA DEALERS...
Paper Money Whole No. 193
NEW MEMBERSHIP COORDINATOR
NEW P.O. Box 117060Carrollton, TX 75011
9364 Kevin Gross, 1020 Culpepper Dr., Toms River, NJ 08753; C,
errors, numbers, sil. certs.
9365 Dr. Howard D. Cohn, 7709 Brickyard Rd., Potomac, MD 20854-
4818; C, U.S. Ig. size & fract.
9366 Mike Gibson, P.O. Box 1313, Rowlett, TX 75088; C.
9367 Lawrence C. Paddock, P.O. Box 40815, Baton Rouge, LA 70835-
9368 Kent Robertson, 118 Oak Dr., Brandon, MS 39042; C&D, U.S.
1g. size, C.S.A. & southern states.
9369 Ryan H. Greenblatt, 43 Lempa Rd., Holland, PA 18966-2413;
C, U.S. sm. size.
9370 Robert C. Francis, P.O. Box 77508, Tucson, AZ 85703; C&D,
world and U.S.
9371 William A. Burd, 6455 W. Archer Ave., Chicago, IL 60638; D.
9372 Le Roy H. Jones, 635 Jennifer Ln., Aberdeen, MD 21001; C&D,
9373 Sam Shaw, P.O. Box 1103, Savannah, TN 38372; C, obsoletes,
stocks & bonds.
9374 Malcolm Yandell, 11126 Sageknight, I-louston, TX 77089; C&D,
U.S. Ig. size.
9375 John L. Chipak, 1909 Agate Dr., Silver Spring, MD 20904; C.
9376 Avram I. Weisberg, P.O. Box 464, New York, NY 10002; C&D,
foreign and 19th and early 20th cent. notes.
9377 Bill R. Leonard, P.O. Box 219, North Zulch, TX 77872; C, NBN.
9378 Michael E. Weihl, 652 Sedan Park Ct., St. Louis, MO 63125-
5100; C, gold certs. & NBN.
9379 Bob Moritz, P.O. Box 1214, Morristown, NJ 07962-1214; C&D,
U.S. lg. size.
9380 Edward W. Shuster, 550 Cascade Way, Frederick, MD 21703; C,
9381 Henry Dress, 2207 Wickersham Ln. #509, Austin, TX 78741; C.
9382 Roger A. Bohn, 1345 Ponderosa Ave., Green Bay, WI 54313;
C&D, WI obsolete & NBN.
9383 Larry Wilson, 3550 Timberglen Rd. #135, Dallas, TX 75287; C,
North TX and northern CA NBN.
9384 Frank M. Segatti, 3180 W. Utica Rd., Utica, MI 48317-4674; C,
9385 Robert Jamerson, 8154 Quito Rd., Millington, TN 38053-5415;
C, sm.-size U.S. and error notes.
9386 Ronald Waddell, P.O. Box 840, Forest, VA 24551; C, German,
9387 James Eley, RR 1 Box 98F, Robstown, TX 78380; C, obsoletes,
checks, promissory notes, RR documents, VIP passes.
9388 Ron Hewitt, Box 518, Pflugerville, TX 78691; C, star notes.
9389 Lawrence R. Casey, 13 Chester Rd., Darien, CT 06820; C, U.S.
9390 Huntley Chapin, 3629 N. 5th Ave. Suite C-1, Phoenix, AZ 85013-
3706; C, star notes & red seals.
9391 Richard J. Sharon, 543 Canterbury Rd., Grosse Pointe Woods,
MI 48236; C, U.S.
9392 Carlson R. Chambliss, Kutztown University, Kutztown, PA
19530; C, U.S. and MPC.
9393 Louis H. Kristof, 4641 Larson Way, Sacramento, CA 95822-2038;
C, gem CU lg. size type.
358 Bill Halliwell, 212 Chartres, New Orleans, LA 70130; C&D,
Cleveland, OH NBN, reinstatement.
5098 Jay Jackson, 117 North St. #13, Nacogdoches, TX 75961; C, BEP
7978 Joe Miller, R.R. #1 Box 548, Scotrun, PA 18355; C&D, U.S. &
5847 Ed Chauncey, 4412 50th St., Lubbock, TX 79414; D, Texas, CSA,
U.S. NBN (reinstatement).
LM230 Glen Johnson, P.O. Box 5484, Parsippany, NJ 07054-5484;
C, converted from 9108.
LM231 Lawrence Cookson, Rural Route 1, Box 105A, Bloomfield, IN
47424-9723; C, converted from 8049.
LM232 William B. Warden Jr., P.O. Box 356, New Hope, PA 18938;
LM233 Henry N. McCarl, 1828 Mission Rd., Birmingham, AL 35216-
2229; C, converted from 7111.
LM234 J.S.G. Boggs, P.O. Box 1307, Brandon, FL 33509-1307; C&D,
converted from 8701.
LM235 Frank Bennett, P.O. Box 8722, Port St. Lucie, FL 34985-8722;
C, converted from 2877.
LM236 Andrew Shiva, 40 Riverside Dr., #4, New York, NY 10023; C,
U.S. lg. size.
LM237 Andrew McCay, P.O. Box 9495, Tulsa, OK 74157.
LM238 Jeff Young, 753 Lincoln Ave., St. Paul, MN 55105; C, Russia,
early Africa & lg. size U.S.
LM239 David A. Heinsohn, P.O. Box 2724, Longview, TX 75606; C&D,
U.S. and Canada.
Paper Money will accept classified advertising from members only on a basis of
154 per word, with a minimum charge of $3.75. The primal),
purpose of the
ads is to assist members in exchanging, buying, selling, or locating specialized
material and disposing of duplicates. Copy must be non-commercial in nature.
Copy must be legibly printed or typed, accompanied by prepayment made pay-
able to the Society of Paper Money Collectors, and reach the Editor, Gene Hessler,
P.O. Box 31144, Cincinnati, OH 45231 by the first of the month preceding the
month of issue (i.e. Dec. 1 for Jan./Feb. issue). Word count: Name and address
will count as five words. All other words and abbreviations, figure combina-
tions and initials count as separate. No check copies. 10% discount for four or
more insertions of the same copy. Sample ad and word count.
WANTED: CONFEDERATE FACSIMILES by Upham for cash or trade
for FRN block letters, $1 SC, U.S. obsolete. John W. Member, 000 Last
St., New York, N.Y. 10015.
(22 words: $2: SC: U.S.: FRN counted as one word each)
NYC WANTED: Issued NYC, Brooklyn obsoletes; issued/unissued ob-
soletes from locations within present-day Manhattan, Brooklyn, Bronx,
Queens, Staten Island. Steve Goldberg, Box 402, Laurel, MD 20725-
OLD STOCK CERTIFICATES! Catalog plus 3 beautiful certificates $6.
Also buy! Ken Prag, Box 14817-PM, San Francisco, CA 94114. (415)
MASSACHUSETTS LARGE- AND SMALL-SIZE NATIONAL BANK
NOTES WANTED from Buzzards Bay, Edgartown, Falmouth, Harwich,
Hyannis, Nantucket, Tisbury, Provincetown and Yarmouth. Frank
Bennett, P.O. Box 8722, Port St. Lucie, FL 34985. (197)
WW II MILITARY CURRENCY MY SPECIALTY! Periodic price lists
for 55¢ SASE; MPC, Philippine Guerilla, Japanese invasion, world
coins-paper-stamps, U.S. coins-paper-stamps, Confederate, obsoletes,
FRN, stocks-bonds. 702-753-2435. Edward B. Hoffman, P.O. Box 6039-
S, Elko, NV 89802-6039. (192)
MARYLAND WANTED. Obsoletes and National Bank Notes from "The
Howard Bank," "Howard Park Steam Cotton Factory," "Howard Street
Savings Bank," and "National Howard Bank of Baltimore (Charter
4218)." I will pay a substantial premium above current pricing. Howard
L. Cohen, 3170 N.E. Loop Drive, Otis, OR 97368. Tel: (541) 994-
8988; Fax: (541) 994-7189, or e-mail to "lakeside@wcnonet." (195)
EI////771/4 /I ,0%, /
,,,„......... 4. O. SSA SISSENI S E II I t. '144,, . ,. 1)1,..E/EnKarihr.,j..4.
CIUKSW54(4.i.ua !Jar OZONIMK:)11pARA
■Xt, ,71,V , 71 N294431.
t:STITED STATES CURRENCY
SEND FOR FREE PRICE LIST
BOOKS FOR SALE
PAPER MONEY OF THE U.S. by Friedberg. 14th Edition. Hard Bound. $18.50 plus
$2.50 postage. Total price $21.00.
COMPREHENSIVE CATALOG OF U.S. PAPER MONEY by Gene Hessler. 6th
Edition. Hard cover. 579 pages. The new Edition. $32.00 plus $3.00 postage. Total price
THE ENGRAVERS LINE by Gene Hessler. Hard cover. A complete history of the
artists and engravers who designed U.S. Paper Money. $75.50 plus $3.50 postage. Total
NATIONAL BANK NOTES by Don Kelly. The new 3rd Edition. Hard cover. Over
600 pages. The new expanded edition. Gives amounts issued and what is still outstanding.
Retail price is $100.00. Special price is $65.00 plus $4.00 postage. Total price $69.00.
U.S. ESSAY, PROOF AND SPECIMEN NOTES by Gene Hessler. Hard cover.
Unissued designs and pictures of original drawings. $14.00 plus $2.00 postage. Total price
P.O. BOX 355, DEPT. M • ENGLEWOOD, OH 45322
Paper Money Whole No. 193
Pay over "bid" for many
Pay over "ask" for some
Pay over Hickman-Oakes for many nationals
Pay cash - no deal too large.
All grades wanted, Good to Unc.
at 77, I can't afford to wait.
Currency dealer over 50 years.
A.N.A. Life #103 (58 years)
A.N.A. 50-Year Gold Medal Recipient, 1988
P.N.G. President 1963-1964
910 Insurance Exchange Bldg.
Des Moines, IA 50309
Buy: Uncut Sheets - Errors — Star Notes — Checks
Confederate — Obsolete — Hawaiiana — Alaskiana
Early Western — Stocks — Bonds, Etc.
508.40th Avenue N.E.
MINNEAPOLIS, MN 55421-3833
MISMATICI('IUNIVRESP.01Api ST. •
ANNOUNCES PUBLIC AUCTION SALE NO. 7. MARCH 27 & 28, 1998.
FEATURING SELECTIONS & DUPLICATES FROM THE LIBRARIES OF
NEIL SHAFER and GREGORY BRUNK
Superb Important Worldwide & United States Literature
Books, Auction Catalogues, Fixed Price Lists & Periodicals of
Ancient, Greek, Roman, Byzantine, Medieval, Modern, Gold, Silver, Copper,
Paper Money, Tokens, Patterns, Medals, Orders, Decorations, Colonial, Banking,
Technical Aspects & more from virtually every continent.
ABN-Rare, Empty full leather Specimens Book & Volumes 1 & 2 vignette books • Ball-Confed-
erate Interim Depository Receipts & Funding Certificates • Bergman-History of Regular &
Emergency Paper Money Issues of South Africa • Blake - U.S. Paper Money • Chase-Confeder-
ate Treasury Notes • Criswell-2 Volume Currency Series • Donlon-U.S. Large Size Paper
Money • Friedberg-Paper Money of the U.S. • Gwyne & Day-Descriptive Register of Genuine
Bank Notes •Hessler-Comprehensive Catalog of U.S. Paper Money & Illustrated History of
U.S. Loans • Kelly-National Bank Notes • Newman-Early Paper Money of America •
Nicholson-Australian Banknote Catalogue • Shafer-Phillipine Emergency & Guerrillas
Currency of World War II & Guide Book of Modern U.S. Currency-Contributors Copies •
Sloane-Taylor's Signature Examiner • Sten-Encyclopedia of World Paper Money •
Tannahill-Saskatchewan Trade Tokens, Paper Money & Scrip • Treasury Department-History
of the Bureau of Engraving & Printing • Valentine-Fractional Currency of the U.S. •
Webb-Currencies of the Hindu States of R:ijputana • Wilcke-Kurantmonten • Bluestone-7 part
reprint of Grinnell Collection * Christie's -ABN Archives Sales • Hamilton-Currency Collec-
tion of Lucius S. Ruder • Henkels-Chapman Bid Book Priced & Name of Large & Rare
Collection of Colonial & Continental Paper Money • Douglas-Paper Money of Mexico
•Knight-Early Fixed Price Lists • Vintage Fractionals-Fractional Fixed Price Lists.
Other Titles & Authors include: Banca Popolare di Novara, Banca Central del Paraguay,
Bateman, Central Bank of the Phillipines, Chinese Peoples Bank, Davis, State Banking
Histories, Karys, Annual Report of the Comptroller of the Currency, National Monetary
Commission, Krause Publications, Heath's Government Counterfeit Detector, Pick.
And much more for everyone.
"I LOOK FORWARD TO COMING TO WORK EACH MORNING TO
CATALOG THIS SALE AND I LEAVE AT NIGHT IN AWE OF THE SUPERB
LITERATURE AND THE MAGNIFICENT CONDITION". YOU WILL FIND
"OUTSTANDING MATERIAL" IN THIS SALE TO AIM) TO YOUR REFERENCE LIBRARY.
YOUR REFERENCE CATALOGUE CAN BE RESERVED FOR $12.00
FOR FURTHER INFORMATION: CALL TOLL FREE 1-800-789-7005
PHONE 612 789 7070
FAX 612 789 4747
Paper Money Whole No. 193
SEND US YOUR
We maintain the
SPECIALIZING LV: SERVICES:
q Colonial Coins q Portfolio
q Colonial Currency Development
q Rare & Choice Type q Major Show
q Pre-1800 Fiscal Paper q Auction
q Encased Postage Stamps Attendance
IN THE WORLD!
EARLY AMERICAN NUMISMATICS
c/o Dana Linett
q P.O. Box 2442 q LaJolla, CA 92038 q
Members: Life ANA, CSNA-EAC, SPMC, FUN, ANACS
BOUGHT AND SOLD
DOMINION OF CANADA.
BANK OF CANADA.
CHEQUES, SCRIP, BONDS &
FREE PRICE LIST
CHARLES D. MOORE
P.O. BOX 5233P
WALNUT CREEK, CA 94596-5233
LIFE MEMBER A.N.A. *1995 C.N.A. *143 C.P.M.S. #11
NATIONALS - LARGE
UNUSUAL SERIAL NUMBERS
HARRY E. JONES
PO Box 30369
Cleveland, Ohio 44130
Paper Money Whole No. 193
PHILLIP B. LAMB, LTD.
CONFEDERATE STATES OF AMERICA, HISTORICAL CONNOISSEUR
Avidly Buying and Selling.•
CONFEDERATE AUTOGRAPHS, PHOTOGRAPHS, DOCUMENTS, TREASURY NOTES AND BONDS,
SLAVE PAPERS, U.C.V., OBSOLETE BANK NOTES, AND GENERAL MEMORABILIA.
Superb, Friendly Service. Displaying at many major trade shows.
PHILLIP B. LAMB
P.O. Box 15850
NEW ORLEANS, LA 70175-5850
QUARTERLY PRICE LISTS:
WANT LISTS INVITED
APPRAISALS BY FEE.
Buying & Selling
National Bank Notes, Uncut Sheets, Proofs,
No. 1 Notes, Gold Certificates, Large-Size
Type Error Notes, Star Notes.
Commercial Coin Co.
PO. Box 607
Camp Hill, PA 17001
Life Member ANA 639
THE CAMP HILL ""
0 CAMP HILL
Witl. PAY 10 THE BEARER ON 0 .0.0.140
NATIONAL RANK OF
0 0 00179A
MINNESOTA OBSOLETE CURRENCY
and NATIONAL BANK NOTES
Please offer what you have for sale.
Charles C. Parrish
P.O. Box 481
Rosemount, Minnesota 55068
SPMC LM114 - PCDA - LM ANA Since 1976
MYLAR D CURRENCY HOLDERS
PRICED AS FOLLOWS
BANKNOTE AND CHECK HOLDERS
SIZE INCHES 50 100 500 1000
Fractional 43/4x 23/4 $16.50 $30.00 $137.00 $238.00
Colonial 5 1 /2x3 1 16 17.50 32.50 148.00 275.00
Small Currency 65/8x 2 7/8 17.75 34.00 152.00 285.00
Large Currency 77/8 x 3 1 /2 21.50 39.50 182.00 340.00
Auction 9 x 33/4 25.00 46.50 227.00 410.00
Foreign Currency 8 x 5 28.00 52.00 239.00 430.00
Checks 95/8x 4 1 /4 26.50 49.00 224.00 415.00
SIZE INCHES 10 50 100 250
End Open 83/4 x 14 1 /2 $13.00 $60.00 $100.00 $230.00
Side Open 81/2x 17 1 /2 25.00 100.00 180.00 425.00
End Open 91/2x 12 1 /2 12.50 57.50 95.00 212.50
Map and Bond Size
End Open 18 x 24 48.00 225.00 370.00 850.00
You may assort noteholders for best price (min. 50 pcs. one size). You may
assort sheetholders for best price (min. 5 pcs. one size) (min. 10 pcs. total).
SHIPPING IN THE U.S. (PARCEL POST) FREE OF CHARGE
Mylar D , is a Registered Trademark of the Dupont Corporation. This also applies to un-
coated archival quality Mylar® Type D by the Dupont Corp. or the equivalent material
by ICI Industries Corp. Melinex Type 516.
DENLY'S OF BOSTON
P.O. Box 1010 617-482-8477 Boston, MA 02205
800-HI-DENLY FAX 617-357-8163
Paper Money Whole No. 193 Page 37
10% off five or more books / SHIPPING $3 for one book, $4 for two books, $5 for three or more books. All books are in new condition &
hardbound unless otherwise stated.
LM-120 ANA 640 FUN LM90
BOOKS ON PAPER MONEY 8t RELATED SUBJECTS
The Engraver's Line: An Encyclopedia of Paper Money & National Bank Notes, Kelly
Postage Stamp Art, Hessler $85 U.S. National Bank Notes & Their Seals, Prather
Comprehensive Catalog of U.S. Paper Money Paper Money of the U.S., Friedberg. 14th edition
Errors, Bart 35 Prisoner of War & Concentration Camp Money of the
The Comprehensive Catalog of U.S. Paper Money,
20th Century, Campbell
Small-Size U.S. Paper Money 1928 to Date, Oakes &
U.S. Essay, Proof & Specimen Notes, Hessler 19 Schwartz. Softbound 25
The Houston Heritage Collection of National Bank World Paper Money, 7th edition, general issues
Notes 1863-1935, Logan 25 World Paper Money, 7th edition, specialized issues
CLASSIC COINS — P.O. BOX 95 — Allen, MI 49227
Lg. & Sm. Type
Stocks • Bonds • Checks • Coins
Stamps • Gold • Silver
Platinum • Antique Watches
Political Items • Postcards
Baseball Cards • Masonic Items
Hummels • Doultons
Nearly Everything Collectible
399 S. State Street - Westerville, OH 43081
1-800-848-3966 outside Ohio
EST 1960 INC
ALL STATES ESPECIALLY THE
FOLLOWING: TENN-DOYLE & TRACY
CITY: AL, AR, CT, GA, SC, NC, MS, MN.
LARGE & SMALL TYPE
OBSOLETE AND CONFEDERATE
WRITE WITH GRADE & PRICE
SEND FOR LARGE PRICE
LIST OF NATIONALS—
SEND WANT LIST
DECKER'S COINS & CURRENCY
P.O. BOX 250, BLAINE, TN 37709
P.O. BOX 84 • NANUET, N.Y 10954
BUYING / SELLING:
OBSOLETE CURRENCY, NATIONALS, U.S.
TYPE, UNCUT SHEETS, PROOFS, SCRIP.
Periodic Price Lists available: Obsoletes
($3 applicable to order), Nationals, & U.S. Large &
Small Size Type.
PHONE or FAX
BARRY WEXLER, Pres. Member: SPMC, PCDA, ANA, FUN, GENA, ASCC (914) 352.9077
Page 38 Paper Money Whole No. 193
Checks, Checks, Checks!
o Complete your check collection
0 Acquire collateral material for your
0 Revenue Stamps 86 Imprints
0 Thousands of Checks
We also have Stocks, Bonds and MylarTM
Albums and Sleeves
Write, call, or fax for free catalog today.
Your Complete Satisfaction Guaranteed
OREGON PAPER MONEY EXCHANGE
6802 SW 33rd Place
Portland, OR 97219
(503) 245-3659 Fax (503) 244-2977
BUYING and SELLING
U.S., All types
Thousands of Nationals, Large and Small,
Silver Certificates, U.S. Notes, Gold Cer-
tificates, Treasury Notes, Federal Reserve
Notes, Fractional, Continental, Colonial,
Obsoletes, Depression Scrip, Checks,
Foreign Notes from over 250 Countries
Paper Money Books and Supplies
Send us your Want List ... or ...
Ship your material for a fair offer
LOWELL C. HORWEDEL
P.O. BOX 2395
WEST LAFAYETTE, IN 47906
SPMC #2907 ANA LM #1503
Paper Money Whole No. 193 Page 39
Third Edition by Don. C. Kelly
The third edition of this standard reference on
America's Home Town Paper Money has been
updated and expanded. With over 600 pages and 200
illustrations, there are many new features, including
chapters on uncut sheets, error notes, and
counterfeits. Realistic evaluations and detailed
population reports based on a census of nearly
200,000 nationals tell you how many notes have
survived and what they're worth. Maps of each state
show the locations of all towns which had note-issuing
List Price: $100. SPMC members should be able to
buy at a discount from many of the distributors
listed below. See Gene Hessler's review on p 91 of
the May/June 1997 issue of Paper Money.
Allen's 399 South State St Westerville, OH 43081 (800)848-3966
Brooklyn Gallery P 0 Box 090-146 Brooklyn, NY 11209 (718)745-5701
Classic Coins P 0 Box 95 Allen, MI 49227 (517)869-2541
Commercial Coin 1611 Market St Camp Hill, PA 17011 (717)737-8981
Denly's of Boston 75 Federal St Rm 620 Boston, MA 02205 (800)443-3659
Emporium Coin P 0 Box 606 Moorhead, MN 56560 (800)248-9751
R A Glascock 120 Remount St San Antonio, TX 78218 (210)655-2498
Hart ille Coin Exch 1015 Edison St Hartville, OH 44632 (330)699-3952
Fountain Square Stamp & Coin 27 Fountain Square Plaza Cincinnati, OH 45202
Hamp's Supply 9440 Old Katy Rd Suite 121 Houston, TX 77055 (800)258-8906
Harlan Berk, Inc 31 North Clark St Chicago, IL 60602 (312)609-0016
David Hollander 406 Viduta Place Huntsville, AL 35801
Lake Region Coin & Currency P 0 Box 48 Devils Lake, ND 58301
Las Vegas Rare Coin Galleries 3661 So Maryland Pkwy 9N Las Vegas, NV
Louisville Numismatic Exch 527 South 3rd St Louisville, KY 40202
Lyn F Knight P 0 Box 7364 Overland Park, KS 66207 (913)262-7860
Metro Wholesale Supply 7880 A Washington Blvd Elk Ridge, MD 21227
NICS 122 South Grove Elgin, IL 60120 (847)695-0110 (847)695-0127
Numismatic & Philatelic Arts PO Box 9712 Santa Fe, NM 87504
William Panitich 855 Central Ave #103 Albany, NY 12206 (518)489-4400
Paper Money Institute P 0 Box 85 Oxford, OH 45056 (513)523-6861
Pollard's Coin & Stamp 5220 E 23rd St Indianapolis, IN 46218 (317)547-1306
Rare Coin Inv 22033 Kelly Rd Eastpointe, MI 48021 (810)773-9540
Stanley Morycz P 0 Box 355 Englewood, OH 45322 (937)898 -01 14
SilverTowne P 0 Box 424 Winchester, IN 47394 (800)788 - 7481
Stone Mountain Supply 6820 Meadowridge Ct Suite AS Alpharetta, GA
Toledo Coin Exch 5590 Monroe St Sylvania, OH 43560 (419)885-3444
William Youngerman P 0 Box 177 Boca Raton, FL 33429 (800)327-5010
Nobody pays more than Huntoon for
ARIZONA & WYOMING
state and territorial Nationals
1'41' "14-4tt.) -410ligliktifillitilitir 3137 92
ha P •co
(11 NA41000401 Viii, 3728
17.NN kg -PiriTWi itt 404.811 ,
Vg;,„ „, Zwt i/i/V
P.O. Box 3681
Laramie, WY 82071
11111. .117r6J17777– I 4‘
C. Keith Edison
P.O. Box 845
Independence, WI 54747-0845
(715) 985-3644 FAX (715) 985-5225
WANTED IN MEW YORK!
15T N.B. OF TARRYTOWN C11 #364
MOUNT VERNON N.B. CH #8516
A HANDSOME REWARD WILL BE PAID FOR THE
CAPTURE AND SURRENDER OF EITHER OR BOTH
OF THE ABOVE ESCAPEES
FRANK LEVITAN, 4 CREST AVE.,
LARCHMONT, N.Y. 10538
Paper Money Whole No. 193
• OBSOLETE NOTES ■
■ Also C5A, Continental & Colonial, Stocks & ■
■ Bonds, Autographs & Civil War Related ■
LARGE CAT. $2.00 Ref. ■
■ Always Buying at Top Prices
RICHARD T. HOOBER, JR.
P.O. Box 3116, rey Largo, FL 55057
■ FM or Phone (305) 853-0105
WORLD PAPER MONEY
specialized in Poland, Russia E.Europe
visit us: http://www.atsnotes.com
Buy & Sell
Free Price Lisf
.O.Box 54521, Middlegate Postal
RNABY, B.C., CANADA, V5E 4J6
Buying & Selling
Send for Free List
William H. Pheatt
6443 Kenneth Ave.
Orangevale, CA 95662
OBSOLETE NOTES & SCRIP
by Earl Hughes, ed. by Steven K. Whitfield
Latest book from the Society of Paper Money Collectors
Softcover (unbound, if you prefer) — $29.95
Dealer lots of 12 copies — $240.00
Prices include shipping
This will be a limited edition, based in part on
the number of orders received. No orders accepted after
April 1, 1998.
Send checks payable to SPMC to:
Mark Anderson (SPMC),
400 Court St., #1, Brooklyn, NY 11231
ISIonlieall National lank-
ealize Top Market Price
for Your Paper Money •
Highlights from the April 1997
Louis E. Eliasberg, Sr., Collection
The currency market is hot! In recent months we have seen a tremendous
amount of buying activity and invite you to jump on the bandwagon. Con-
sider selling your important notes and currency items in our upcoming auc-
tion to be held in conjunction with the November Suburban Washington/
Baltimore Convention. The same bidders who helped set the world record
prices in our recent sales (March in Baltimore and the Eliasberg sale in April),
will compete for your currency items as well. Call Dr. Richard A. Bagg toll-
free at 1-800-458-4646 to reserve a space for your material. It may well be
the most financially rewarding decision you have ever made.
Highlights from the March 1997
Halpern & Warner Collection
A $100 One-
believed to be
A cut sheet of four
$10 Legal Tender notes. F-123
in Average New to Choice New
A $5 Federal Reserve Bank note.
F-782* in EF realized $7,150.
•N.v 0 0 t
1 t ,3'
Lazy Two $2 note
from the State of
Missouri, Town of
Bowers and M
A $10 Silver Certificate. F-1700
in Gem New realized $8,800.
FAX: 603-569-5319 • www.bowersandmerena.com
Box 1224 • Wolfeboro, NH 03894 • 800-458-4646
[W)411- FTA‘ts*: Mme= M‘t;;;_-- [3‘tP,S Mme= MtP.S
INVEST IN YOUR FUTURE $UCCE$$
WITHOUT SPENDING A LOT OF CASH!
• G.,..••• e.A.
Put the latest
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a More than 600 clean sharp photos helpyou identify the notes of importance toyou. Covers more than 184 years of
►Li U.S. paper money, including all new
(C) issues through the 1997 series. Not
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authority on world paper money.
►kl Albert Pick compiles 18,000+ listings
from 230 note-issuing authorities. The
a only English language reference forpre-1960 international bank notes.
‘Li Hardcover • 8-1/2x11 • 1,232 pages •
? 10,000 b&w photos • PM08 • $55.00
by Dean Oakes &
This new updated
you with the most
ever published for
from 1928-1988, including higher denomi-
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Updated serial number information and a
complete overhaul of web notes coverage
make it essential for serious collectors.
The easy-to-use format features large
type and well-spaced columns. More
than 250 nearly full-sized photos help
promote positive note identification with-
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Softcover • 6 x 9 • 400 pages • 250 b&w
photos • HPO4 • $24.95
by Eric P.
cy from 1686
to 1800. Eric P. Newman has complete-
ly revised and updated his popular
book to include current values of all
Hardcover • 8-1/2x11 • 480 pages •
930 b&w photos • 100 color photos •
EPO4 • $75.00
by Colin R.
Bruce II &
Find the latest
of the modern period, 1961 to date, in ►►1
this one handy reference. The newly
updated 3rd edition features more than
375 note issuing authorities, and nearly
10,000 listings, including current issues
and expanded signature charts, dates ,,,
and varieties. Significantly more photos
make identification a breeze.
Alphabetical-by-country listings utilize the
internationally accepted number system
for easy attribution of notes. Named the la
Numismatic Literary Guild's Paper Money
Book of the Year.
Softcover • 8-1/2x11 • 736 pages • 6,750 g iS
b&w photos • WP03 • $34.95
250 years of specialized world paper
money issues from more than 370
note-issuing authorities. More than
17,000 notes are cataloged and
priced to cover your interests.
Hardcover • 8-1/2x11 • 1,096 pages •
8,000 b&w photos • PS07 • $60.00
, log of
by Colin R.
Bruce II &
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