Paper Money - Vol. XLIV, No. 3 - Whole No. 237 - May - June 2005

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.SPMC.ORG I■rational anker rational Leaguer VI1111 STATB HAM =* NA114/7"9441iii. 4531''cutuation:Th 4.181WIMILAY.O.14741.1;01111111 117,11'14' teMAL4.41-40 9544 .' .1Nlaitamit• 9544 OFFICIAL JOURNAL OF THE SOCIETY OF PAPER MONEY COLLECTORS VOL. XLIV, No. 3 WHOLE No. 237 MAY/JUNE 2005 r PER, 1-41,10AEY There's Still Time to Consign to Memphis! idlitTeritt) '://k /.• 100 NitittNACCUARWT.7 1,F1Frat 41tIoltiaa zuluiz ' \Alt3841 . • )-1 Iv vi . • • 9 4+, 171•11411311 ,,,,//,”.1„ 111"111111/111eiliii =MIA= 4.//74,h/. //4 T IE RIVER To consign now, call Stephen Goldsmith at 800-622-1880, or send an email to . To receive a catalogue for this sale ($25 U.S., $35 Overseas) call our subscription desk at 800-622-1880. Smythe catalogues can also be viewed at our website, . /Ca E) Smythe is proud to announce that we are the Official Auctioneer of the 29th Annual International Paper Money Show, June 17-19, 2005. This show attracts hundreds of dealers and collectors from the U.S. and abroad. It is the ideal place to showcase a major collection or better single items. Smythe is committed to making our Memphis 2005 auction a memorable one, and we are aggresSively seeking good material for this landmark event. Smythe's Memphis auction will feature Part III of the Herb and Martha Schingoethe Obsolete Currency Collection, as well as a Southern Gentleman's Collection of Confederate and Southern Obsolete Notes. A wonderful selection of Palestine issues with rare and never before publicly auctioned examples of this avidly collected country is already in house. This sale will fill up quickly, so please contact us now if you are thinking of consigning. SALE DATES: June 17-18, 2005, Memphis, TN. SALE LOCATION: The Memphis Marriott Downtown Hotel, Memphis, TN. Please Note: For Memphis show table information please call Mike Crabb, Show Chairman, at 901-757-2515. For hotel information please call the Memphis Marriott Downtown at 901-527-7300. This sale is held in conjunction with Unique Antiques & Auction Gallery, Tennessee License #2077; G.A. Bryant, Auctioneer, Tennessee License #2372. "I was VERY satisfied and felt the whole sale (early correspondence, finalizing items for sale, catalogue, sale and results) was handled with A#1 INTEGRITY and HONESTY, unsurpassed like I've never seen before." —GK, Minnesota 2 Rector Street, 12th Floor New York, NY 10006-1844 TEL: 212-943-1880 TOLL FREE: 800-622-1880 FAX: 212-312-6370 EMAIL: WEBSITE: ( kro .MF M H E c a So0 00 0 prztoz: ZiiNuust-leSonivN TERMS AND CONDITIONS PAPER MONEY is published every other month beginning in January by the Society of Paper Money Collectors (SPMC). Second-class postage is paid at Dover, DE 19901. Postmaster send address changes to Secretary Robert Schreiner, P.O. Box 2331, Chapel Hill, NC 27515-2331 0 Society of Paper Money Collectors, Inc., 2005. All rights reserved. Reproduction of any article, in whole or in part, without express written permis- sion, is prohibited. Individual copies of this issue of PAPER MONEY are available from the Secretary for $6 postpaid. Send changes of address, inquiries concerning non-delivery, and requests for additional copies of this issue to the Secretary. MANUSCRIPTS Manuscripts not under consideration elsewhere and publications for review should be sent to the Editor. Accepted manuscripts will be published as soon as possible; however, publication in a spe- cific issue cannot be guaranteed. Include an SASE for acknowledgment, if desired. Opinions expressed by authors do not necessarily reflect those of the SPMC. Manuscripts should be typed (one side of paper only), double-spaced with at least 1-inch margins. The author's name, address and telephone num- ber should appear on the first page. Authors should retain a copy for their records. Authors are encouraged to submit a copy on a 3 1/2-inch MAC disk, identified with the name and version of software used. A double-spaced printout must accompany the disk. Authors may also transmit articles via e-mail to the Editor at the SPMC web site (fredei ). Original illustrations are preferred but do not send items of value requiring Certified, Insured or Registered Mail. Write or e- mail ahead for special instructions. Scans should be grayscale at 300 dpi. Jpegs are preferred. . ADVERTISING • All advertising accepted on space available basis • Copy/correspondence should be sent to Editor • All advertising is payable in advance • Ads are accepted on a "Good Faith" basis • Terms are "Until Forbid" • Ads are Run of Press (ROP) • Limited premium space available, please inquire To keep rates at a minimum, all advertising must be prepaid according to the schedule below. In exceptional cases where special artwork or addi- tional production is required, the advertiser will be notified and billed accordingly. Rates are not commissionable; proofs are not supplied. Advertising Deadline: Subject to space availabil- ity copy must be received by the Editor no later than the first day of the month preceding the cover date of the issue (for example, Feb. 1 for the March/April issue). With advance approval, cam- era-ready copy, or electronic ads in Quark Express on a MAC zip disk or CD with fonts sup- plied, may be accepted up to 10 days later. ADVERTISING RATES Space I time 3 times 6 times Outside back cover $1500 $2600 $4900 Inside cover 400 1100 2000 Full page 360 1000 1800 Half page 180 500 900 Quarter page 90 250 450 Eighth page 45 125 225 Requirements: Full page, 42 x 57 picas; half-page may be either vertical or horizontal in format. Single-column width, 20 picas. Except covers, page position may be requested, but not guaran- teed. All screens should be 150 line or 300 dpi. Advertising copy shall be restricted to paper cur- rency, allied numismatic material, publications, and related accessories. The SPMC does not guar- antee advertisements, but accepts copy in good faith, reserving the right to reject objectionable material or edit copy. SPMC assumes no financial responsibility for typographical errors in ads, but agrees to reprint that portion of an ad in which a typographical error occurs upon prompt notification. PAPER MONEY • May/June 2005• Whole No. 237 161 Paper M ney Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XLIV, No. 3 Whole No. 237 MAY/JUNE 2005 ISSN 0031-1162 FRED L. REED III, Editor, P.O. Box 793941, Dallas, TX 75379 Visit the SPMC web site: IN THIS ISSUE FEATURES John K. Tener: This Banker Knew How to "Pitch" His Customers . . . .163 By Bob Cochran The Paper Column: Pittsburgh Banks Offer Innumerable Twists 173 By Peter Huntoon, with Bob Liddell and James Hughes The Paper Column (Bonus): Tulsa Bankers Got "Cold Feet" 187 By Peter Huntoon "Making Money" Ye Olde-fashioned Way 188 By Joaquin Gil del Real New Keatinge-Ball Payment Notes Reported 192 By Les Lewis and Bryn Korn Chasing Byron: the Man & Saga Behind the Notes 198 By Matt Hansen Welthea M. Marsh, National Bank President 210 By Karl Sanford Kabelac Union Planters National Bank & Trust Co. of Memphis 214 By Greg Culpepper When Is a National Bank Note NOT National Currency 218 By A. Lincoln (nut) On This Date in Paper Money History 220, 222 By Fred Reed Interest Bearing Notes: Reflections on Two Postcards 226 By Dave Bowers About Texas Mostly: FNB of Intercourse, PA 230 By Frank Clark The Buck Starts Here: Women Signers of U.S. Federal Currency . 232 By Gene Hessler SOCIETY NEWS Information & Officers 162 RIP: Hendershott, Schingoethe, Remick, Durkin 191, 194, 207, 234 Paper Money Editor's Show Me the Money! tells a good story 196 R. M. Smythe celebrates 125th anniversary 213 Members to decide among five candidates for SPMC Board 224 SPMC members Bowers/Sundman launch note study 225 Hessler's long awaited encyclopedia of world engraves due out 228 SPMC holds event at St. Louis Paper Money show 231 Society authors invited to second publishing forum 231 President's Column 234 By Ron Horstman New Members 236 SOCIETY OF PAPER MONEY COLLECTORS INC. 162 May/June 2005 • Whole No. 237 • PAPER MONEY Society of Paper Money Collectors The Society of Paper Money Collectors (SPMC) was orga- nized in 1961 and incorporated in 1964 as a non-profit organiza- tion under the laws of the District of Columbia. It is affiliat- ed with the American Numismatic Association. The annual SPMC meeting is held in June at the Memphis IPMS (International Paper Money Show). Up-to-date information about the SPMC and its activities can be found on its Internet web site . MEMBERSHIP—REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. Members of the ANA or other recognized numismatic societies are eligible for member- ship; other applicants should be sponsored by an SPMC member or provide suitable references. MEMBERSHIP—JUNIOR. Applicants for Junior membership must be from 12 to 18 years of age and of good moral character. Their application must be signed by a parent or guardian. Junior mem- bership numbers will be preceded by the letter "j," which will be removed upon notification to the Secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or vote. DUES—Annual dues are $30. Members in Canada and Mexico should add $5 to cover postage; members throughout the rest of the world add $10. Life membership — payable in installments within one year is $600, $700 for Canada and Mexico, and $800 elsewhere. The Society has dispensed with issuing annual mem- bership cards, but paid up members may obtain one from the Secretary for an SASE (self-addressed, stamped envelope). Members who join the Society prior to October 1 receive the magazines already issued in the year in which they join as avail- able. Members who join after October 1 will have their dues paid through December of the following year; they also receive, as a bonus, a copy of the magazine issued in November of the year in which they joined. Dues renewals appear in the Sept/Oct Paper Money. Checks should be sent to the Society Secretary. OFFICERS ELECTED OFFICERS: PRESIDENT Ron Horstman, 5010 Timber Ln., Gerald, MO 63037 VICE-PRESIDENT Benny Bolin, 5510 Bolin Rd., Allen, TX 75002 SECRETARY Robert Schreiner, P.O. Box 2331, Chapel Hill, NC 27515-2331 TREASURER Mark Anderson, 335 Court St., Suite 149, Brooklyn, NY 11231 BOARD OF GOVERNORS: Mark Anderson, 335 Court St., Suite 149, Brooklyn, NY 11231 Benny J. Bolin, 5510 Bolin Rd., Allen, TX 75002 Bob Cochran, P.O. Box 1085, Florissant, MO 63031 Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 Ronald L. Horstman, 5010 Timber Ln., Gerald, MO 63037 Arri "AJ" Jacob, P.O. Box 1649, Minden, NV 89423-1649 Robert J. Kravitz, P.O. Box 303, Wilton, CA 95693-0303 Tom Minerley, 3457 Galway Rd., Ballston Spa, NY 12020 Robert R. Moon, 201 Baxter Court, Delmar, NY 12054 Judith Murphy, P.O. Box 24056, Winston-Salem, NC 27114 Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941 Robert Schreiner, P.O. Box 2331, Chapel Hill, NC 27515 APPOINTEES: PUBLISHER-EDITOR Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941 CONTRIBUTING EDITOR Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 ADVERTISING MANAGER Wendell A. Wolka, P.O. Box 1211, Greenwood, IN 46142 LEGAL COUNSEL Robert J. Galiette, 3 Teal Ln., Essex, CT 06426 LIBRARIAN Robert Schreiner, P.O. Box 2331, Chapel Hill, NC 27515-2331 MEMBERSHIP DIRECTOR Frank Clark, P.O. Box 117060, Carrollton, TX 75011-7060 PAST PRESIDENT Frank Clark, P.O. Box 117060, Carrollton, TX 75011-7060 1929 NATIONALS PROJECT COORDINATOR Arri "AJ" Jacob, P.O. Box 1649, Minden, NV 89423-1649 WISMER BOOK PROJECT COORDINATOR Bob Cochran, P.O. Box 1085, Florissant, MO 63031 BUYING AND SELLING CSA and Obsolete Notes CSA Bonds, Stocks & Financial Items 60-Page Catalog for $5.00 Refundable with Order HUGH SHULL ANA-LM SPMC LM 6 SCNA P.O. Box 2522, Lexington, SC 29071 BRNA PCDA CHARTER MBR PH: (803) 996-3660 FAX: (803) 996-4885 FUN PAPER MONEY • May/June 2005• Whole No. 237 163 By Bob Cochran 1 T'S ABSOLUTELY AMAZINGWHAT YOU CAN STUMBLEacross. I've enjoyed reading AmericanHeritage since I discovered the publi- cation in the late 1950s when I was in junior high school. I've managed to assemble a nearly complete set over the past few years, finding many issues in used-book stores and at "book fairs." About three years ago I found an interesting article about a "world-wide baseball tour" put on by Albert Spalding in 1888. Spalding assembled a team of all-stars from both leagues to play his own Chicago team, and played games in 13 nations on five conti- nents. A few issues later I discovered that a reader had sent Atherican Heritage some additional information about one of the players on that tour. John K. Tener was a pitcher for the Chicago National League team 1888-1889, compiling a 22-20 record. But what REAL- LY caught my eye was the mention that after his baseball career, Tener had also been the president of the First National Bank of Charleroi, Pennsylvania! That comment was the basis for this story. I had a lot of help from the folks at the John K. Tener Library in Charleroi, PA; several SPMC friends provided additional information, and Eric Vicker kindly provided a photocopy of his Series 1929 Charleroi note bear- ing the signature of John K. Tener. I had a lot of fun researching and writing this story, and I hope you enjoy reading it. John Hickman always told me that virtually ANY National Currency note could tell you a story if you just dig a bit -- I believe this is proof he was telling the truth! OLD JUDGE CIGARETTES 'TVA.' 164 May/June 2005 • Whole No. 237 • PAPER MONEY John K. Tener's baseball card from a package of Old Judge cigarettes in 1888. As a batsman, Tener was a weak hitter. His lifetime batting average was .236. (Library of Congress photo) Touring teams assemble dur- ing their stopover in Australia. (Transcendental Graphics / ) JOHN K. TENER BALLPLAYER, BANKER, CONGRESSMAN, GOVERNOR John Kinley Tener was born on a farm near Dungannon, County Tyrone, Ireland, on July 25, 1863; he was one of ten children born to George E. Tener and Susan Wallis Tener. His oldest brother, George II, emigrated to the United States in 1871, and settled in Pittsburgh, PA. John Tener's father passed away in March of 1873; two months later, John, his mother, and the rest of his brothers and sisters followed George II to Pittsburgh. Unfortunately, Mrs. Tener died in August of that year, leaving John an orphan at the age of nine. John attended public schools, and later took a business college course. He was a large man, eventually growing to be 6'4" tall and weighing about 260 pounds in his prime. At the age of 17 he took a job as a clerk with the Lewis, Oliver and Phillips Iron Company in Pittsburgh. He was soon promoted to weigh- master of coal and other supplies at the company's Southside plant. It was here that John K. Tener was exposed to "business." He expressed an interest in the financial workings of the plant, and one of the bookkeepers helped him learn and hone his accounting skills. Tener was an excellent athlete, and he was an accom- plished baseball player. In his free time he played sandlot base- ball. His fellow players urged Tener to consider playing profes- sional baseball. In 1885 he signed a contract with a minor league club in Haverhill, MA. At the end of that season he played the outfield for Baltimore's major league team. In 1888 he signed a contract with Albert Spalding, owner of the Chicago Whitestockings team (predecessor to the cur- rent-day Cubs) in the National League. Tener played for Chicago for two years, compiling a record of 22 wins and 20 losses as a pitcher. As mentioned at the beginning of this article, Tener par- ticipated in a "world tour" that Spalding arranged during 1888- 1889. Perhaps a harbinger of things to come took place on the tour: Tener was selected by his fellow players to be their Treasurer on the trip. For years, Spalding harbored a burning desire to introduce baseball to the world. As early as 1874 he had visited England to arrange for a series of games PAPER MONEY • May/June 2005• Whole No. 237 165 In Egypt the baseball teams played a game in the sands near the ancient Sphinx. (Transcendental Graphics / ) Another Old Judge baseball card of Tener shows him in a pitching pose. His W-L pitching record in four big league seasons was a combined 25- 31. (Wayne Grove photo) between the Philadelphia and Boston baseball teams. He assisted the tour Business Manager Harry Wright, and returned to England in July with the teams. Games were held in the largest cities of England and Ireland. By 1888, Spalding had decided upon a grand tour of the world, fea- turing the Chicago Whitestockings and a team of all-stars from the other teams in the league. The first game was played in Chicago on October 20, 1888. After the game, the party, totaling 35, departed for San Francisco. The group sailed from San Francisco for Australia on November, 1888, stopping for games in the Sandwich Islands (Hawaii), Samoa, and New Zealand. In Australia the two teams played to large and very receptive crowds. They traveled on to games in Ceylon and Egypt. The two teams actually played a baseball game in the desert outside Cairo, riding donkeys and camels out to the Sphinx. According to eyewitnesses, most of the spec- tators were some local men who had NO idea what was going on! They did take every opportunity to pounce on the baseball when it came near TF•IrP P., Ctile os OLD JUDCE- CIGARETTE FACTORY. c000wsm e Now York, 'ft.0.4 VAilleNitiNAMM.11114111* 1 ///*/a/ , .Nixtel# 4255.1- asm4Fllavi -r‘meaktgiktil r NATIONAL CTI I always loved Nationals; collected California Nationals since 1958 resulting in California Auction of 950 different California Nationals in September 2004. I've been specializing and dealing in Nationals since 1960. . •with over 2,000 in stock. • Set up at all paper money shows and many larger coin shows • Auction representation at all paper money auctions • Have put together national currency collections for customers by state, city, county, other geographical areas, first or last name, relatives who signed notes, profession (such as mining), police badge numbers and many other categories. Lowell C. Horwedel 166 May/June 2005 • Whole No. 237 • PAPER MONEY 167PAPER MONEY • May/June 2005• Whole No. 237 WEINERVIIME; R324260H • 4...;:e1-,! • 03 Aig10--14-14-1.ME 11678 •ED `NCRTI,,,,,,,willW:At• VIA (II r 24711' lailMtk4 / U.' ')//e 119,w, ./ :' ,SSAATISICAINIALNISANIAL LT' So whether you are buying or selling Nationals, deal with the man who knows Nationals best . . . . from BOTH sides of the table . . . 12014.0s '100-'1" girrut,■1 til6t;,114;- elVdllazi.: 6-4.4dif446:-Iikaial." Ntael-ACMArt IIIE ROST C000080A NOM BANK OF CROWS LANDING I CALIFORNIA *4;;41;1441.i;;:; C000080A 'Ent _1 911 .-11:A1011 1a Eiviol HE FIRST D000082A NATIONAL BANK CI MARYSVILLE CALIFORNIA Wilt PAY -M .414 BEARER 4P 0E1/.4 IRMO 11►011.1AUS niwath11£.7-Malit OlitategagnaffilS Itmlf°2L;;11 'QV 717E Auita :3;ti s-utaloado 1261 3 -"ravarica4va:FaucitlIC A:KKAA*3161—”"*.TIVIlltialfiA■ 2613 71.[nitrql,,."1=1“7, UNITED5T HESNAMEICA - p ° Nro0010:3Attion- 9033 0.ttlitEMItZE 4r.An.,r113.1..*IMII■1.1711,11AMV. 'PHAN - IDATOILRit411, • /A / AW// H605810H Lowell C. Horwedel P. 0. Box 2395 Fax: 765-583-4584 West Lafayette, IN 47996 Tel: 765-583-2748 email: uti4;\ website: WY1.4Z, 168 May/June 2005 • Whole No. 237 • PAPER MONEY John K. Tener as a young businessman. them, and were VERY reluctant to give it back! Subsequent stops were made in Naples, Florence, Rome, Nice, Monte Carlo, Paris and London. Many heads of state attended the games, including King Kalakaua of Hawaii, King Humbert of Italy, the Prince of Naples, the Khedive of Egypt, the President of France, and the Prince of Wales. When the players returned from the world tour, they discovered that the team owners had banded together and imposed salary limits on the players. Tener and many other players formed the new Players' League, and founded their OWN organization -- the Brotherhood of Professional Players. Tener soon became Secretary of that organization. John K. Tener played one more year of professional baseball in the Players' League. He may have been dis- tracted by his duties with the union, maybe his heart wasn't in it, or perhaps the level of play was much better; whichever the case, Tener had a terrible year, winning only 3 games while losing 11. He retired from professional baseball after the season and married Harriet Day, whom he had met when he was playing baseball in Haverhill, MA. The new community of Charleroi ("Charles the King") was being created along the Monongahela River about this time. The farm of Robert KcKean was being developed to take advantage of the golden opportunity for growth and commerce along the river in this area near Pittsburgh. The First National Bank of Charleroi was organized in 1891, and Tener accepted the position of cashier of the new bank. The bank's new brick building was the first one to be erected in the new community. Tener was elected president of the First National Bank of Charleroi in 1898, succeeding W. D. Hartupee. By 1905 the capital stock of the bank was $50,000, deposits were nearly $760,000, and undivided profits stood at $18,318.18. The bank ranked first in the community, third in Washington County, and 194th in the United States. The loans and discounts were $950,000; since the bank was founded in 1891 it had paid back to its stockhold- ers dividends equal to 50% of its capital, and accumulated a surplus of $100,000. The cashier at this time was R. H. Rush. From Banks and Bankers of the Keystone State we have the following information about him: Mr. R.H. Rush, the cashier, was born in Clarkville, Greene county Pa., and received his early education in the common schools of that place. Mr. Rush has the distinction of being the pioneer merchant of Charleroi, having sold the first dollar's worth of merchandise ever sold in that town. He left Charleroi in 1894 and was for a while connected with the H.J. Heinze Preserving Company, of Pittsburg, afterwards the Carnegie Steel Company in their general offices, having resigned the latter position in 1898 to accept the cashiership of the First National Bank of Charleroi. Mr. Rush is closely identi- fied with Charleroi's business interests, being a director in the chamber of commerce of that place and is one of Charleroi's ablest businessmen. PAPER MONEY • May/June 2005• Whole No. 237 169 Tener organized the Charleroi Savings and Trust Company in 1901; the company's capital was $125,000. In the beginning the bank conducted its busi- ness in the insurance and real estate office of B. A. Zollner on McKean Avenue. Within a few years the bank built a new home on Fallowfield Avenue and Fifth Street costing $50,000. Tener served as secretary and treasurer of the bank. Tener's other interests included Mercantile Bridge Company (president), two street railway companies (director), and he founded a successful brokerage firm. Tener also established the Charleroi Chamber of Commerce, and was a charter member of the Charleroi Elks Lodge (and later elected Grand Exalted Ruler of the national organization). His business acumen did not go unnoticed. Tener was courted by the Republican Party and became quite active in Pennsylvania politics. He was a favorite of "Boss" Boies Penrose, and was elected to a term (1908-1910) in the U.S. House of Representatives. He was nominated for a sec- ond term, but the Pennsylvania State Republican Party prevailed upon him to run for Governor. Tener was elected, and served as the 89th Governor of Pennsylvania from 1911 to 1915. Tener's administration as Governor was note- worthy for several reasons. He supported an improved road system. More than 8,500 miles of roads were taken over by his administration to be built and administered by the state. Game conservation laws passed during his term were used as a model by many other states, and he was one of the first advocates of flood con- trol projects. He is given substantial credit for Pennsylvania's Workmen's Compensation laws, and established the Department of Labor and Industry and the State Historical Commission. When Tener left office, Pennsylvania was debt-free. The First National Bank of Charleroi is the building at right. Tener was a one- term Republican gover- nor of Pennsylvania. . .tt-Ar.118 , t,..Itntt, f0: , r"OS CS CI fV.49 k1:'1itINSurn STATES NAM RICA 'rtRillifitilia C ■ *Si lt 'I'sigkrigt. M-. 114ati&" ;;. :41 g Eli*, Vitt* agOti l* 4,411140,0*0 **0#(' • C 000741 ATHE FIRST NATIONAL BANK OF • CIIARLEROI cf3 PENNSYLVANIA U) WILL PAY TO TOE DEARER ON DEMAND • T1E7i DOULAIRS C 000741 )1 14; 170 May/June 2005 • Whole No. 237 • PAPER MONEY As president of the First National Bank of Charleroi, John K. Tener signed both large and small size National Currency. (Series 1929 note courtesy of Eric Vicker) Tener as a mature man. (Transcendental Graphics / ) An amusing incident took place on a day when Tener had signed three important bills in one day; each bill dealt with traction railways, a major trans- portation medium of the time. A witness to the activities commented that the bills would become a monument to Tener's career. Not so," replied the Governor, rather wistfully. "I once shut out the Giants." Interestingly, while he was serving as Governor of Pennsylvania, Tener was also elected President of the National Baseball League. He served as NL president from 1913 through 1918. During World War I, he declared baseball the "watchword of democracy" in the struggle against the Kaiser. He returned to Charleroi and contin- ued as president of the First National Bank, although he left the day-to-day operations in the hands of others. For some years he concentrated his efforts with the Tener-Lowry Company, insur- ance brokers, and divided his time between Pittsburgh and New York City. His wife Harriet passed away in January, 1935. The next year Tener married Leone Evans, 25 years his junior; she passed away about a year later. John Kinley Tener passed away at 7 a.m. at his in Pittsburgh home on May 19, 1946. He was 82 years old. 4::;PMG mnsammtwarr 01.1114 65 171PAPER MONEY • May/June 2005• Whole No. 237 INTRODUCING ZAPMG PAPER MONEY GUARANTY ,:.• DELIVERING SECURITY D TRUTH TO THE WORLD OF PAPER MONEY. Certification. Standardization. Protection. Professional and impartial paper money grading and encapsulation gives you a collecting environment that is stable, liquid and free of fraud. Paper Money Guaranty (PMG), the newest independent member of the Certified Collectibles Group (CCG), combines accurate, impartial and knowledgeable graders with proven processes and standards for the care and evaluation of your notes. Many of these standards have been established for years at our sister company, Numismatic Guaranty Corporation (NGC), the largest, most respected company in the authentication and grading of rare coins. And, as with coins, each of our paper money experts is prohibited from buying and selling notes to ensure impartiality. Most importantly, behind it all is the passion and respect for the hobby that we bring to work with us each and every day. To learn more about PMG, contact your local dealer, visit , or contact Glen Jorde, Grading Finalizer, at 877-PMG-5570. AUTHENTICATION EXPERT GRADING ENCAPSULATION IMAGING INTEGRITY IMPARTIALITY /S.1.4.\1GC PAPER MONEY MARAATA A E.PR,An war 11.", 172 May/June 2005 • Whole No. 237 • PAPER MONEY -PITTSBURGH POST•GAZETT: MAY 20, 1946 Although his administration as governor was noteworthy, he was perhaps better known nationally through baseball. As governor, Mr. Tener support- ed early agitation for an improved road system. More than 8,500 miles of roads were taken over by his administration to be built and maintained by the state. Game conservation laws that be- came a model for the rest of the nation, and made Pennsylvania the outstanding wildlife state, were passed during Mr. Tener's term as governor. Most of these laws, such as the resident hunter's license law, became the fundamentals of the nation's game codes. He was one of the first advo- cates of flood control in the upper Shenango river basin and origi- nated plans for what is now Py- matuning dam. Mr. Tener was instrumental in adoption of Pennsylvania's work- men's compensation laws. Born in Ireland Mr. Tener was born in County Tyrone, Ireland, July 25, 1863, one of 10 children. His family mi- grated to America and settled in Pittsburgh. At the age of nine he was left an orphan. He attended public schools and later took a business college course. He then worked as pay- master for the Lewis, Oliver and Phillips Company. In spare time he was on the baseball field. Friends were quick to note his today. ability and pursuaded him to try_ nrnfessinnal hit TIP slaved in ilia The First National Bank of Charleroi (Charter #4534) issued 1882 Series Brown Back and Date Back notes, 1902 Series Date Back and Plain Back notes, as well as 1929 Types 1 and 2 notes. The total issue was $822,920. The bank was placed in receivership on May 22, 1934. The outstanding circulation at that time was $50,000, of which $2,630 were large-size notes. P.S. Please: DON'T ask me what a "Khedive" is - I don't know either! Sources Pittsburgh Post-Gazette, "Ex-Governor Tener Dies At Age of 82" (May 20, 1946). Pittsburgh of Today, n.d., n.p. (ca. 1920), pp. 4-6. Miller, J.M. "Pittsburgh's Foremost Families — Tener," The Bulletin (March 16, 1918), (n.p., assume Pittsburgh). 75th Anniversary of the National League. New York: Jay Publishing Co., Inc., (n.d., 1951). John R.Tener. Folder produced by John K. Tener Library, Charleroi, PA (n.d.). "Spalding's Baseball Tour," American Heritage, Vol. 28/Number 6 (October 1977), pp. 46-49. American Hertage Publishing Company, Inc. "A Long Way Down from the Pitcher's Mound," (Quoting letter from reader Michael Goodman, Brooklyn, NY), American Heritage, Vol. 29/Number 4 (June/July 1978), p. nl. American Heritage Publishing Company, Inc. Kelly, Don C. National Bank Notes, 3rd edition. Oxford,OH: The Paper Money Institute (1997). • Ex-Governor Tener Dies a heart attack. Although in semi- retirement for sometime, Mr. Tener went to his office in the Oliver building daily, where he was an active partner in the Tener-Lowry Company, insurance brokers, until he became ill. He also was presi- dent of the First National Bank, Charleroi. Funeral services will be at 3:30 p. m., Wednesday, at H. Samson's, 537 Neville street. Friends will be received at Samson's after 6 p. m., At Age of 82 Former President Of National League Taken Ill on May 1 John Kinley Tener, 82, former governor of Pennsyl- vania and onetime president of baseball's National League, died at 7 a. m. yesterday at his home, 5864 Marlborough avenue. Mr. Tener had been ill since' May 1, when he was stricken with PAPER MONEY • May/June 2005• Whole No. 237 173 Pittsburgh Banks Offer Innumerable Twists p ITTSBURGH, PENNSYLVANIA, ALWAYS HAS BEEN AN important financial center, and host to National Banks since their inception. The First National Bank of Pittsburgh held charter #48, being among the first to organize in 1863. The importance of Pittsburgh is its strategic location at the junction of the Allegheny River from the northeast and the Monongahela River from the southeast. The rivers merge to form the Ohio River which flows toward the northwest away from Pittsburgh. THE PAPER COLUMN by Peter Huntoon Bob Liddell James Hughes Pittsburgh was originally located in the triangle of land situated east of the junction of the rivers. Over time, the city gobbled up numerous surround- ing towns and communities through a series of annexations so that the city now radiates in all directions from the junction between the rivers. Its location and growth were fueled early by the steel industry; its location on the rivers ideal for transshipment of ore, coal and finished products. Annexations and Titles Among the note issuing towns that were annexed were Allegheny to the north across the Allegheny River, Sheraden to the west across the Ohio River, and Birmingham and Hays respectively to the south and southeast across the Monongahela River. There were a total of 54 note issuing banks in Pittsburgh if we include those that were annexed and found themselves within the borders of the city. Adding interest is the fact that many of the banks had more than one title. Many of Pittsburgh's national banks operated as state or private banks prior to the National Bank Act, thus a strong tradition of banking was rooted early in the history of the city. See Culleiton (1996) for a summary history of the predecessors. Several of the banks occupied grand, multistoried buildings, many in the heart of the city. The T. Mellon and Sons Bank established in 1869 at 145 Smithfield Street eventually obtained national charter #6301 in 1902. It occu- pied an imposing building on Smithfield Street at Fifth Avenue. After a series ACT AP .0.017•11011=637.18Ofk .... k;2500tmanoca:=3:70;co=o• E.4aimaxemmvegtg.mixaegetEnne Nat nit /SI 4-maral, / vjer- ( )0 to reiraelsvvieaPe' 0 ,NATIONALL v..-,44-1 74-63-C.:0-Ma ,;itoNAL CURitgly ''472-' vo , - D .1-ti,47( ( -. 4,-ipt-Ita-. el,.■. .--L. ..sthNnsolc,,,,,e, NOTE IS SIerlI1,71ni -, At., Of • :411,1441 Zar//4, FHL•43•V‘ee," 4•.0414 WEPOSITICto , • „lux...aide...1w 1 •, ,-mwv„, , tUcYCL.:TyvolvO emo.voN 1 ./:// /7/ '/ 174 May/June 2005 • Whole No. 237 • PAPER MONEY of mergers, The Mellon National Bank became one of the most prominent of Pittsburgh's banks, and Andrew Mellon one of the most influential bankers in the country. One challenge for us was to develop an accurate list of the exact titles that appeared on notes for all those banks. This quest was set in motion by the fact that the officers of several banks adopted a modernized spelling for Pittsburgh by dropping the "h." This occurred just after the turn of the century, and cata- loguers have been tripping over the variant spellings for years. Equally interesting were the banks that got caught up in the annexations. Many bankers declined to initiate formal title changes to reflect the annexa- tions. The skinflint bankers were avoiding the costs of new plates. Examples included The Hays National Bank and The First National Bank of Sheraden which never did change their titles. Others will be discussed in more detail. There is one case involving The Farmers National Bank of Greensburg, charter 1894, where the officers relocated their bank 25 miles northeast from the town of Greensburg in Westmoreland County to Pittsburgh in Allegheny County. This was accomplished with the help of a special authorizing Act of Congress dated April 15, 1875. The bank was renamed The Fifth National Bank of Pittsburgh even though 19 other national banks were there first! Missing "h" The missing "h" from Pittsburgh owes its loss to a Federal Board of Geographic Names commission report published in 1892. The board made sweeping recommendations for modernizing, standardizing and simplifying the spellings of geographic names throughout the country. In essence, the work of the Board was to Americanize our town names. The principal recommendations impacting town names are far reaching, going well beyond the single issue of dropping the "h" from Pittsburgh. Top: The Farmers National Bank of Greensburg was relocated 25 miles northeastward to Pittsburgh from Greensburg in 1875. Above right: The Farmers National Bank of Greensburg was renamed The Fifth National Bank of Pittsburgh after it was moved. 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Berlin $45 library binding 88 photos & illustrations (26 in color), maps, tables, references, notes, appendices, index ISBN 0-7864-0879-0 2001 by Mary Ellen Snodgrass $95 hardcover 118 illustrations, glossary, bibliography, index ISBN 0-7864-1450-2 2003 McFarland, Box 611, Jefferson NC 28640 • • Orders: 800-253-2187 PAPER MONEY • May/June 2005• Whole No. 237 175 ' ,LiNt$24 11_t41Mmg IfittwiN j 174311* vingrmiggS314 icktgixty4t., , :ibboy% ri 11, litabik)/h", fk. 11111111111GIU,oitrhA --1-4-WW11114.316 '-ettxt 6-11, r,141: t*N ee42.t/9".9 0 T.1,,z4610, maa lita 1/4) _:.1.=1611j 642 kr • 51iiiiiiitor 311fillittiii 1117/ Y, NiF loor, 110,TErfAux,;;.S.:;,y, // / 61, 176 May/June 2005 • Whole No. 237 • PAPER MONEY Top: This proof from The German National Bank of Pittsburgh uses the traditional and most commonly used spelling of Pittsburgh. Don't confuse this bank with The German National Bank of Allegheny which long after the annexation of Allegheny became The National Bank of America at Pittsburgh! This proof is from the sec- ond 50-100 Series of 1882 brown back plate made for the bank, a plate made in 1903. Above right: The Federal National Bank was the only bank to issue Series of 1882 notes without an h in Pittsburgh. Consequently we are including the entire list here. Undoubtedly this will inform you as to why you have encountered peculiar differences in the presen- tation of geographic names between notes from the earlier and later series from the same bank. The Board on Geographic Names (1892, p. 6) recommended: (a) The avoidance, so far as seems practicable, of the possessive form of names. (b) The dropping of the final "h" in the termination "burgh." (c) The abbreviation of "borough" to "boro." (d) The spelling of the word "center" as here given. (e) The discontinuance of the use of hyphens in connecting parts of names. (f) The omission wherever practicable of the letters "C. H." (Court House) after the names of country seats. (g) The simplification of names consisting of more than one word by their combination into one word. (h) The avoidance of the use of diacritic characters (i) The dropping of the words "city" and "town" as parts of names. Incidentally, diacritic characters are accent symbols imported from for- eign languages such as the tilde, umlaut, circonflex and cedilla that accompany letters to specify how to pronounce them. The Board report went on to expand its comments about dropping the "h" from "burgh" as follows. "Concerning the termination 'burg' or 'burgh,' as Pittsburg, an extensive correspondence has developed the fact that in more 4,,O=03 t 0" 1 iii( t a&I Cgic0f:9=E.K=WEI) NationailCurreney • sEELREn intiTEUSTMESUMM58110111ERSCCURITIES • UNITED STATES DFAMERICA PAPER MONEY • May/June 2005• Whole No. 237 177 31;3°114 11)t NATI4OMMINEDIVII' I 1 t SM :RED Mir 10,0fitAaLikoivripotivr 7J/ei/w/vx //,„,/ ;: //v',- Airearattavilintime (my of.allaNaLLWI'aUr-Ilt - imAllgrA 1,031dalt* 4 1/64limr m00111(10. mi_02.761,02)446zzrx,v_ax=scaziruzar( -1, -41.multitxtualugoax=uwagglo %Mart 12) t_4‹ 1,..“turvr 577;?7,77. 21101.9000■11101316 The First National Bank of Birmingham found itself annexed into Pittsburgh in 1873. The bankers would not change their title upon annexation so the Comptroller's clerks had the post office location changed to Pittsburgh when the Series of 1882 10-10-10-20 plate was made in 1885. This con- stituted a defacto title change. Still no steps were taken by its officers to change the title, so Pittsburgh was left in the in the post office location on the 1902 plate. TIM "Ma../.1 ".-10.ri..M2E1319.% Tf-Nr , DUPED BY UNITED STATES HON DO DEPOSIT,/ T.,,ZAY,scbr,s,/ THE FIRST NATIONAL -" BANK OF BIRMINGHAM PITTSBIJRGIJ PENNSYLVANIA WILL PAY TOME HEARER ON DEMAND TEN DOLLARS F 0(10789A ITNTNE TREASURER _ OF Al ET Or STATES 0 55114 0::',4144.17(,1444,dy REDE TrIE UN TREA D The defacto title change imposed on the Birmingham bank back in 1885 was formally spelled out on the Series of 1929 notes. L''` willairSigijUG 0,000111WVitt 7istan.-virtc 178 May/June 2005 • Whole No. 237 • PAPER MONEY SIKTRED 1119CNTED STATES BONDS Dr, POSITE HMI 11 THE TRELSVIC ER OF Ar9E9Eur Slajf iviAA .:44,14,4044, Four of the five banks that used the spelling Pittsburg issued Series of 1902 red seals. All are very rare. Shown here are notes from two of them. The Keystone is a 1902 date back. 7i/44/( / /1/10(1% -1,TiPmelr? rAgAINE.--- A tet, a''Ti OW:g NhQ41419=mg-T., . jol..DJ.,11,,,LS.,."x/ 70,Y 2iiav '4 • N• WANTED: NATIONAL BANK NOTES Buying and Selling Nationals from all states. Price lists are not available. Please send your want list. Paying collector prices for better California notes! WILLIAM LITT P.O. BOX 6778 San Mateo, California 94403 (650) 458-8842 Fax: (650) 458-8843 E-mail: Member SPMC, PCDA, ANA OP 560 180 May/June 2005 • Whole No. 237 • PAPER MONEY .14,CE4r jugatut,4 SECIWEll Zuailiag 196—..--- Top: Sheraden was annexed to Pittsburgh in 1907; however, the title of the bank was never changed to mark the occasion so confusion with the existing First National Bank of Pittsburgh was avoided. The name Sheraden in the tombstone and as the name of the post office in script now referred to a district within Pittsburgh. NATIONAL CITEUREATILIV MIRED SIVIRIZ MIES EPOSIIENSITIOWITN THE 7RiASLIPER OF 000-0311"11JIVINIIIMA. THE HAYS RATIONAL BANK IAA'S PENNSYLVANIA E41 WILL PAY TO TOE DEARER ON DEMAND MJ FIVE' DOLLARS C000446A /7, a: 0000446A 5 'TATE S 0 SSUE 7' Right: The Hays National Bank found itself inside Pittsburgh after Hays was annexed in 1929. The bankers did not apply for a title change, so the title was left as was for all the 1929 issues. Here Hays represents a district within Pittsburgh rather than a stand alone town. This occurred many times across the country. Tide Problems The notes from several of the annexed banks are particularly interesting because the Comptroller's office had to wrestle with the titles on them. The fact was that the bankers wouldn't submit title changes, at least not in a timely fashion, because there was nothing in the law that required them to do so. The first of the national banks drawn into the city was The First National Bank of Birmingham, charter #926. That title graces the Original Series and Series of 1875 notes from the bank. Exactly when the annexation of Birmingham was perfected is in question. The date co-author Liddell wished he could believe is the one found in a sum- mary of his great-grandfather Robert Liddell's achievements as Democratic Mayor of Pittsburgh between 1878 and 1881. According to Swetnam (1973): The big event of Robert Liddell's term of office was the annexation of large areas in the South Side and West End. These included the bor- oughs of Union, Temperanceville, Mount Washington, West Pittsburgh, Monongahela, South Pittsburgh, Allentown, Birmingham, East Birmingham, St. Clair and Ormsby. Only Mount Olive managed to hold out against the tide. However, in documenting the annexation of Birmingham, co-author Liddell found the following which he believes to he more authoritative. The date of annexation is attributed to an act of the state legislature dated April 2, 1872 (Cushing, 1889). In an earlier act dated June 30, 1868, three subsections consisting of several communities each were given a choice to join the City of Pittsburgh or not. Two of the three subsections including the subsection con- sisting of Birmingham voted no. It appears that the 1872 act was a land grab. Under its terms, the com- munity councils were to wrap up their business by January 1, 1873, and hold elections for seats on the Pittsburgh city council on the 2nd Tuesday of October 1873. At that time, the new council members were to be seated and •s•JI•IA€VPW4LIVe.■,47:74SiA) *IAN, SEet RED litT UNLIT 0 STATES BONDS DEPOSTTEDWITH 711E TIRIELSCREH OF LL NATI(08-"4 ittzvir (.0 :••• ••4,3 917%74411.1474117 I )()141iN1114 //7.07/W//, h•-)2_LT.,:"-•U''' • %YR /9/Zi. • XeRiaZU'--jt-II,KVfWJtKZt4XKjaeK4fKfkWINXV-WrfgS*41I t_ NalintiditilLetrni011 •=ORM 1171111TES SIMS BONDS 011111111U1SICIIIIIIMUI • Fr^NITEDSTATES1IF MERICA 4.4 W.`<41„). tj 111. ti EttloKt ltl ►M14 '1711_711N - IA(24411UAAll,'" W//../(//-7Ã . //WI Itt-rVitiliWPO-10) RED MA THE U ONE, DE ED STATES cr !set. 211LATIMIIITALL NEUVArTUTTIEVITIENNTATESMINDSDEPOSITEMMITTTLETNEASLHENNE PRAILita,..MSTAIRKWAMPPIKk K THE SECOND NATIONAL Ca BANK OF ALLEGHENY PITTSBURGH E000143A PENNSYLVANIA TWENTY ANALARS WILL PAT TO THE BEARER ON DEMAND E000143A " ny2,01014.:----"3---41M9X. 1 4.11 , THE SECOND NATIONAL BANK OF PITTSBURGH PENNSYLVANIA WilL.PAT TD THE BEARER ON DEMAND FIVE 11OLLAIRS E002779A E002779A PAPER MONEY • May/June 2005• Whole No. 237 181 The Second National of Allegheny served the town of Allegheny. Notice Allegheny in script as the post office location. When Allegheny was annexed to Pittsburgh, the bankers operating The Second National Bank of Allegheny declined to apply for a title change to reflect their new location. Eventually, in 1917, the Comptroller's clerks had the script post office location on the 1902 plates altered to read Pittsburgh. This, in essence, imposed a defac- to title change on the bankers. When the Series of 1929 logotype plate was prepared for The Second National Bank of Allegheny, the imposed defacto title change dating from 1917 made its way prominently onto the notes. After living with 1929 notes with the awkward title, the bankers finally coughed up the application to have their title changed to The Second National Bank of Pittsburgh; and, more importantly for them, the money to have a new logotype printing plate pre- pared for their 1929 notes. Xe4r4a:03319rtgaMr."`T-X"T"T.6", MIER...MUV:C=Mir P-4'7-niL4aMP— 4lath itlitutsu ks! mikewitto .1044):-1444. 1S oxituttliWkwwww.famAlliwtowotti.i "11(3110141/WMIAllit 14AataholainitZa ;Itt eigtrapitriN.7.1411arlatitV 4 , . 7,W7104GZIIFV:,„;i1eNcvisliA+zieesr3CW a itt4ir -it_ luitAx 104,11 1 tf IA! I tU:,t..1.4444.41 ‘.__MItal :UV 4i-r,AAJ- '_-Z 4///////y/ 4 "1:441021.,I.a11-7(or.” /1//!t' wrsoluntin 182 May/June 2005 • Whole No. 237 • PAPER MONEY the city would take over the communities. While it is possible this procedure was taken to court and delayed until Liddell's great grandfather's term, there is no mention of such a delay in the Histo7y of Allegheny County. The officers of The First National Bank took no steps to amend their title to acknowledge the change regardless of exactly when Birmingham was annexed. Consequently the then current Series of 1875 plates were left unchanged. When the bank was extended in March 1885, the Comptroller's clerks authorized the Bureau of Engraving and Printing to use the same title but to place Pittsburgh as the post office location in script on the side of the title block across from the plate date. This effectively avoided the problem of having two First National Banks of Pittsburgh. The same language was used on the 1902 notes; that is, Pittsburgh appeared in script but Birmingham was in the tombstone. When the Series of 1929 came along, the title was rendered as The First National Bank of Birmingham, Pittsburgh, Pennsylvania. What we are seeing here is a defacto title change implemented by the Comptroller's clerks to prevent the notes issued by The First National Bank of Birmingham from being confused with those from the existing First National Bank of Pittsburgh. Basically the same behavior was repeated by the officers of The First National Bank of Sheraden and The Hays National Bank when those towns were annexed respectively in 1907 and 1929. Once again, the bankers didn't apply for title changes so the Comptroller's office left the old titles on subse- quent issues. Thus there was no confusion between them and other banks in existence within Pittsburgh. Here the town designator came to represent a dis- trict in the city rather than the city. This became a rather common occurrence elsewhere in the country. Top: The German National Bank of Allegheny, charter #2261, found itself annexed into Pittsburgh but the bankers refused to change their title. In order to avoid confusion with the existing German National Bank of Pittsburgh, charter #757, the Comptroller left the Allegheny title as it was. Above right: Operators of The German American National Bank of Allegheny quickly changed their title to minimize losing business from anti-German sen- timent following the outbreak of World War I by renaming their bank the patri- otic sounding National Bank of America at Pittsburgh in 1918! PCGS Currency Collectors Club Details* 1-Year Membership (Domestic)...Only $99 1-Year Membership (International)...Only $129 • Whitman's The Official Red Book: A Guide Book of United States Paper Money • Sample note graded by PCGS Currency and preserved in a tamper-evident, sealed holder • Direct Submission Privileges • A voucher for five complimentary Grading Submissions. Turnaround time approximately 15 business days. (All currency must be submitted at the same time.) *Offer subject to change. N GuideBook of cited Statesr Mosel„ 5030/ 1Stii LIMITED TIME OFFER FOR EXISTING PCGS COLLECTORS CLUB MEMBERS 1-Year Membership for ONLY $79 (Domestic) $109 (International) Offer expires June 30, 2005. Must be postmarked on or before 6,130/05. eximpifrel by Arthur t). all crass Vtiolben Introduction and Narrative by 4.1Iavid offs JOINING THE PCGS CURRENCY COLLECTORS CLUB IS QUICK AND EASY. Enroll by phone (800) 447-8848 • Enroll online at • Enroll by mail or fax using the form below: moire YES! •• Sign me up and send my Membership Packet! ■ 1 YEAR — GOLD MEMBERSHIP $99 (Domestic) $129 Dote. notionol) BILLING INFORMATION:I Name Address City State Zip Country State Check enclosed for $ D Charge my: Credit Card No. Exp. Date Name on Card: If paying by credit card, please provide billing address for card or your order may be delayed. Signature U '1/4. .•0' CURRENCY A Division of Collectors Universe Nasdaq: CWT. E] Yes, I am o current PCGS Club member: (Ilea if new adders Save Me $20! ONLY 579 idenienic) 5109 all (Offer expires 035/05; must be postmarked on or before 00/05) Name Address City Zip Country Phone ( E-mail Please Pont' Please make check payable to: PCGS Currency E=1 Visa q MasterCard q American Express I METHOD OF PAYMENT:I Join the Club and Submit Your Currency Directly! Mail to: PCGS — P.O. Box 9458, NEWPORT BEACH, CA 92658 • (800) 447-8848 • Fax: (949) 833-7660 2005 Collectors tiresome, Inc. 508407 - Paper Money 0505 183 PAPER MONEY • May/June 2005• Whole No. 237 184 May/June 2005 • Whole No. 237 • PAPER MONEY Defacto Title Changes Allegheny was swallowed by Pittsburgh in 1907, and to many of its citi- zens the event was the result of political connivance. A public referendum was held June 12, 1906, on the annexation. However, both the citizens of Pittsburgh and Allegheny were allowed to vote, so, because Pittsburgh had the larger population, the referendum passed. It was challenged in court but the citizens of Allegheny lost. The annexation swept The First and Second National Banks of Allegheny into Pittsburgh. Neither set of bank officers applied for a title change to cele- brate the event. The Comptroller was immediately faced with having two First and two Second National Banks in Pittsburgh! At first, the Comptroller's clerks left the plates as was, thus causing no confusion. Later they caused the script post office location Allegheny to be altered to Pittsburgh on the plates. The first alteration occurred in 1909 for the 10-10-10-20 Series of 1902 plate for The First National Bank (#198). Next the First and Second nationals of Allegheny consolidated in 1915, under the title of The Second National Bank of Allegheny (#776). Then the 5-5-5-5 and 10-10-10-20 Series of 1902 plates for The Second National Bank (#776) were similarly altered in 1917. These alterations constituted defacto title changes in each case. The printings from the altered plates for both banks were treated as if formal title changes had occurred. Specifically, bank sheet serial numbering from the altered plates started over at 1. The handling of the plates and notes for these two banks was otherwise unprecedented during the history of national bank note issues. However, the story of the titles for The Second National bank was not yet finished. The title that appeared on the early Series of 1929 notes was The Second National Bank of Allegheny, Pittsburgh, Pennsylvania, the title that the Comptroller's clerks hung on the bank back in 1917. The bankers had tired of this cumbersome title by 1930, so they finally applied for a formal title change to The Second National Bank of Pittsburgh! They even paid the charge for making the new logotype overprinting plate that was required. By 1930, there was no duplicate Second National Bank of Pittsburgh to cause trouble. The original Second National Bank, charter #252, had merged with the original First National Bank of Pittsburgh in 1913, thus becoming The First-Second National Bank. In 1918, the officers of the bank renamed it the First National Bank at Pittsburgh. Cheap Bankers The German National Bank of Allegheny, charter #2261, served up a similar story to that of the Hays, Sheraden and Allegheny banks. When annexed, the officers of the bank also did not file for a title change. The Comptroller simply left the bank with its Allegheny title complete with Allegheny in script. trig7 MACERATED MONEY Wanted information on U.S. Chopped up Money. RARE, FREE MASCERATED POSTCARD FOR USEFUL INFORMATION Who made the items, where sold, and anything of interest. Also I am a buyer of these items. Top Prices paid. Bertram M. Cohen, 169 Marlborough St., Boston, MA 02116-1830 E-mail: PAPER MONEY • May/June 2005• Whole No. 237 185 Titles as found on the national bank notes issued by banks in Pittsburgh, Pennsylvania, and towns annexed by Pittsburgh. Sources for the titles on Series of 1875, 1882 and 1902 are the certified proofs in the Smithsonian collection; Series of 1929 are observed notes; Original Series only issues are from duplicate charters or organization certificates in the National Archives. Title change dates appear in brackets. 48 The First National Bank of Pittsburgh reorganized as 2745 in 1882, 48 reassigned 6/17/02, see 2745 198 The First National Bank of Allegheny Pittsburgh in script on 1902 notes after 3/10/09 252 The Second National Bank of Pittsburgh The First-Second National Bank of Pittsburgh (4/21/13) First National Bank at Pittsburgh (1/18/18) 291 The Third National Bank of Pittsburgh 432 The Fourth National Bank of Pittsburgh 613 The Merchants and Manufacturers National Bank of Pittsburgh 619 The Citizens National Bank of Pittsburgh 668 The Pittsburgh National Bank of Commerce 675 The Iron City National Bank of Pittsburgh 678 The Tradesmens National Bank of Pittsburgh 685 The Farmers Deposit National Bank of Pittsburgh 700 The Mechanics National Bank of Pittsburgh 705 The Union National Bank of Pittsburgh 722 The Allegheny National Bank of Pittsburgh 727 The Peoples National Bank of Pittsburgh 757 The German National Bank of Pittsburgh 776 The Second National Bank of Allegheny Pittsburgh in script on 1902 notes after 12/20/17 The Second National Bank of Allegheny, Pittsburgh (early 1929 notes) The Second National Bank of Pittsburgh (5/12/30) 926 The First National Bank of Birmingham Pittsburgh in script on 1882 and 1902 notes The First National Bank of Birmingham, Pittsburgh (1929 notes) 1057 The Exchange National Bank of Pittsburgh 1894 The Farmers National Bank of Greensburg The Fifth National Bank of Pittsburgh (4/15/75) 2195 The City National Bank of Pittsburgh 2235 The Third National Bank of Allegheny (liquidated 7/11/02 before Allegheny was annexed to Pittsburgh) 2236 The Diamond National Bank of Pittsburgh 2237 The Marine National Bank of Pittsburgh 2261 The German National Bank of Allegheny The National Bank of America at Pittsburgh (6/1/18) 2278 The Duquesne National Bank of Pittsburgh 2279 The Metropolitan National Bank of Pittsburgh 2281 The Smithfield National Bank of Pittsburgh 2415 The Fort Pitt National Bank of Pittsburgh 2711 The Commercial National Bank of Pittsburgh 2745 The First National Bank of Pittsburgh originally organized as 48, 48 reassigned 6/17/02, see 48 3874 The Monongahela National Bank of Pittsburgh 4222 The Pennsylvania National Bank of Pittsburgh 4339 The Liberty National Bank of Pittsburgh 4883 The Lincoln National Bank of Pittsburgh 4910 The Columbia National Bank of Pittsburgh 4918 The National Bank of Western Pennsylvania at Pittsburgh Western National Bank of Pittsburgh (5/17/13) 4991 The Enterprise National Bank of Allegheny (receivership 10/18/05 before Allegheny was annexed to Pittsburgh) 5017 The United States National Bank of Pittsburgh 07446W"'" .1 10-10, gfiritaggitirlePowoot-Lmlonzraic .y77,, In, I IT_ UNITED STATES VIA1.1S1 ►min►M-b`Attkplifv reivatist _f ' Q:44NYZED3.4+40421M81110Z,CCO90t0:10;10 3,Zi: 186 May/June 2005 • Whole No. 237 • PAPER MONEY 5225 The Bank of Pittsburgh National Association, Pittsburgh 5997 The First National Bank of Sheraden 6023 The Federal National Bank of Pittsburg 6153 The Republic National Bank of Pittsburg 6216 The Cosmopolitan National Bank of Pittsburgh 6301 The Mellon National Bank of Pittsburgh 6507 The Hays National Bank, Hays 6567 The Colonial National Bank of Pittsburgh 6725 The Washington National Bank of Pittsburgh 6806 The Industrial National Bank of Pittsburg 7560 The Keystone National Bank of Pittsburg 7581 The American National Bank of Pittsburg 12414 The Highland National Bank of Pittsburgh 13153 The Forbes National Bank of Pittsburgh 13701 The Pitt National Bank of Pittsburgh 14271 National Bank of America in Pittsburgh Although not in Pittsburgh, the following is of interest because of the use of Pittsburgh: 5000 The East Pittsburgh National Bank of Wilmerding The First National Bank of Wilmerding (7/9/23) The large size notes from The Bank of Pittsburgh National Association appear unfinished without a tombstone with the city name. This layout was used on all Series of 1882 and 1902 notes issued by the bank. The advent of World War I and its accompanying fervent anti-German sentiment caused the bankers to dance. German in the title was bad for busi- ness so they quickly applied for a safe new title right in the midst of their Series of 1902 issues. The new title -- The National Bank of America at Pittsburgh -- had a patriotic ring to it. It was approved for use by the Comptroller June 1, 1918. Don't let it be lost on you that those same bankers, president F. N. Hoffstot, and cashier George G. Schmidt, eagerly paid for their new 5-5-5-5 plate this time around! Acknowledgment The research leading to this article was partially sponsored by grants from the Professional Currency Dealers Association and the Society of Paper Money Collectors. Sources of Data and References Cited Board on Geographic Names. First Report of the United States Board on Geographic Names: Government Printing Office, Washington, DC (1892). Bureau of Engraving and Printing. Certified Proofs from National Bank Note Face Plates: National Numismatic Collection, Museum of American History, Smithsonian Institution, Washington, DC (1875-1929). Culleiton, Charles J. National Bank Notes of Allegheny County: Western Pennsylvania Numismatic Society (1996), 204 p. Cushing, Thomas, and others, editors. The History of Allegheny County: A. Warner & Company, Chicago, IL., v. 1 (1889), 786 p. Swetnam, George, "October 13, 1973, Mayor's notebook," The Pittsburgh Press, p. 17. Van Belkum, Louis, 1968, National Banks of the Note Issuing Period, 1863 - 1935: Hewitt Brothers Numismatic Publications, Chicago, IL, 400 p. MYLAR D® CURRENCY HOLDERS PRICED AS FOLLOWS BANK NOTE AND CHECK HOLDERS SIZE INCHES 50 100 500 1000 Fractional 4-3/4" x 2-1/4" $20.50 $37.00 $165.00 $290.00 Colonial 5-1/2" x 3-1/16" $21.00 $38.50 $175.00 $320.00 Small Currency 6-5/8" x 2-7/8" $21.50 $41.00 $182.00 $340.00 Large Currency 7-7/8" x 3-1/2" $24.00 $45.00 $200.00 S375.00 Auction 9 x 3-3/4" $26.50 $48.00 $235.00 $410.00 Foreign Currency 8 x 5 $30.00 $55.00 $250.00 $440.00 Checks 9-5/8 x 4-1/4" $30.00 $55.00 $250.00 $440.00 SHEET HOLDERS SIZE INCHES 10 50 100 250 Obsolete Sheet End Open 8 '/s" x 14 1/2" $18.00 $80.00 $140.00 $325.00 National Sheet Side Open 8 1 /2" x 17 1/2" $19.00 $85.00 $150.00 $345.00 Stock Certificate End Open 9 1/2" x 12'/2" $17.50 $75.00 $135.00 $315.00 Map & Bond Size End Open 18"x24" $70.00 $315.00 $570.00 $1295.00 You may assort note holders for best price (min. 50 pcs. one size). You may assort sheet holders 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 uncoated 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 51010, Boston, MA 02205 • 617-482-8477 ORDERS ONLY: 800-HI-DENLY • FAX 617-357-8163 PAPER MONEY • May/June 2005• Whole No. 237 187 Tulsa bankers clot "cold feet" Proof-only issue marks this Indian Territorial's run THE PAPER COLUMN by Peter Huntoon The Tulsa National Bank (#7085) The Tulsa National Bank, Indian Territory (#7085), was organized Dec. 15, 1903, and chartered January 4, 1904, as a minimal capitalized bank under the terms of an amendment to the National Bank Act passed March 14, 1900. This act allowed people in towns with populations of less than 3,000 to orga- nize banks having a capital of only $25,000. This populist provision was widely embraced by would be bankers throughout the thinly populated small towns in the Oklahoma and Indian territories. It lead to the establish- ment of many dozens of under capital- ized banks there, many of which failed during the agricultural depression that followed World War I. I Collect FLORIDA Obsolete Currency National Currency State & Territorial Issues Scrip Bonds Ron Benice 4452 Deer Trail Blvd. Sarasota, FL 34238 941 927 8765 The law required the bankers to have a circulation of one quarter of their capitalization, so such banks issued a minimal $6,250. The officers of the Tulsa bank executed a purchase for $6,250 worth of bonds on January 4th, and ordered their plate and notes. Shortly thereafter they got cold feet and decided that national banking was not the right business for them. They liq- uidated the bank on February 26th before any 10-10- 10-20 Series of 1902 Red Seal territorials were printed from their plate. The bonds were eventually sold on August 24, 1904. The Tulsa National Bank, Indian Territory, liquidated before any Series 1902 Red Seals were printed from the lone plate made for it. .aaaramo:14. .m .Ndlico Intliorkli 7 • ,v4 M1 /.0.1141,10 V. 1440 >40 ,t4,4(.4144,44,44) 'TF4j1,11itt 1/Wire 1//y.fizwez .01:64.7.4 UNBIDSTATESEIFAMERICA air ]CAPER MONEY CONTRIBUTOR lloaquin Gil del Real is also an avid postcard collector, whose interests coincide in old cards depicting the Bureau of Engraving, banking, and the U.S. Treasury. He frequently shares new finds with your Editor, and this time around we'll share some of them with readers as well. Such tidbits are always of interest to the Editor. Frequently pho- tocopies reproduce as well as the cards themselves. Please DON'T send anything of sig- nificant value as we cannot receive insured, registered or certified mail at the address listed in the magazine. 188 May/June 2005 • Whole No. 237 • PAPER MONEY "Making Money" ye olde-fashioned way By Joaquin Gil del Real 189PAPER MONEY • May/June 2005• Whole No. 237 g Ne 4.S Opposite clockwise from top: (1) U.S. Treasury Room where U.S. Seal is put on bank notes. (2) Unidentified bank, Washington, D.C. (3) Halving Machine, U.S. Treasury, Washington, D.C. This page, clockwise from top: (1) Examining newly made money. (2) U.S. Treasury currency wagon. (3) U.S. Bureau of Engraving and Printing number- ing currency. (4) Bureau of Engraving and Printing. (note: the BEP card #4 is multi-lin- gual English-Spanish-French-German. 190 May/June 2005 • Whole No. 237 • PAPER MONEY This page, clockwise from top: (1) Currency examiners, 1924. (2) Large press room, Bureau of Engraving and Printing. (3) Destruction Committee, $500,000 of condemned money ready to be destroyed, U.S. Treasury, Washington, D.C. Destruction Commiftee, destroyed, Paper money related postcards make interesting association items (i.e. "go withs") for paper money collectors. They also help "pep up" exhibits, can be reproduced for club presentations, or are useful in illustrating articles that you may write for Paper Money or another numismatic publication. Most are inex- pensive except for some rare cards depicting banks that National Bank Note collectors have pushed to advanced prices. So the next time you see some postcards at an antique mall or a flea market, stop and spend a few min- utes perusing them. You'll never know what delightful scenes await your dis- covery just around the corner. IF YOU COLLECT OR SELL OBSOLETE NOTES, FRACTIONAL CURRENCY, NATIONAL BANK NOTES YOU WON'T WANT TO MISS OUR NEXT THREE SPECIAL TOPICAL ISSUES U.S. CURRENCY Is Buying Everything "Still Paying Top Dollar for Rare Confederate" U.S. Type, Obsoletes, Nationals, and of course, Santa Notes 404-229-7184 U.S. CURRENCY Box 01750. Irving. IX 75063 Kcnt Rokrtson. owner 1j PAPER MONEY • May/June 2005• Whole No. 237 191 SPMC Honorary Life Member #1 Robert Hendershott dies in Florida ROBERT L. HENDERSHOTT PASSED AWAY ONIN-Tuesday, March 22 peacefully in his sleep," according to a report received by this publication. Bob was our first Honorary Life Member, and a dignified 106 years old. He "had lived a very full life in numismatics," a colleague noted. One of the founders of Florida United Numismatists, Inc. in December, 1955, Mr. Hendershott was elected to the ANA Numismatic Hall of Fame in 2000. He will be missed by his many friends in SPMC who reg- ularly spent their Januaries at the FUN show, that he helped make a desirable annual wintry destination for snow birds each January for the past half century. Hendershott was born August 7, 1898. In 2002 Scotsman Coins auctioned the Robert L. Hendershott collec- tion of 1904 St. Louis World's Fair memorabilia, on which topic he had written a guide. "Bob had an advantage over many other 1904 collectors, because he was was there!" a numismatic book dealer said. Born in St. Louis in 1898, Bob was 6 in 1904 and retained fond memories of the wonders of the Fair. Over his long collecting lifetime, he accumulated a vast collection of items associated with the fair. His guide is considerated to be a standard. Buying & Selling Quality Collector Currency • Colonial & Continental Currency • Fractional Currency • Confederate & Southern States Currency • Confederate Bonds • Large Size & Small Size Currency Always BUYING All of the Above Call or Ship for Best Offer Free Pricelist Available Upon Request James Polis 4501 Connecticut Avenue NW Suite 306 Washington, DC 20008 (202) 363-6650 Fax: (202) 363-4712 E-mail: Member: SPMC, FCCB, ANA ////4 iri /14, 1 • • , . r ii 77:177i ..77 /7, /7 /77, -7/7,77 / • /.///// e /17 7/ 4: / 4,71/ //X', 192 May/June 2005 • Whole No. 237 • PAPER MONEY New Keatinge-Ball payment notes reported by SPMC members Les Lewis and Bryn Korn IN OUR RECENT CON-FEDERATE/ CIVIL WAR Special Issue of Paper Money, we published posthumously The Private Issue Notes of Keatinge & Ball" by the late "Mr. Confederate" Brent H. Hughes (January/ February 2005 issue of Paper Money). In compliance with Mr. Hughes' express wish to ascer- tain how many of these notes may have been issued, an Editor's note requested addi- tional serial number informa- tion on these enigmatic notes. Two members Les Lewis and Bryn Korn called these notes to the Editor's attention from their collections. In addition to having high- er serial numbers than those known to Mr. Hughes at the time of his death, one of Miss Korn's notes is likely the low serial extant for that denomina- tion. Lewis' Keatinge & Ball $2 note (top) is serial number 105. It is also plate letter A. Miss Korn's notes are #3 and #111. Each is also plate let- ter A. Sign up 2 new members to SPMC Today. They'll be grateful all year long and you'll receive a special souvenir card as a modest "thank you" from the Society, too. You will also have your name published in our SPMC 6000 (TM) Honor Roll. PAPER MONEY • May/June 2005• Whole No. 237 193 OUR MEMBERS SPECIALIZE IN NATIONAL CURRENCY They also specialize in Large Size Type Notes, Small Size Type Notes, Colonial and Continental Currency, Fractionals, Obsolete Notes, Error Notes, MPC's, Confederate Currency, Encased Postage, Stocks and Bonds, Autographs and Documents, World Paper Money... and numerous other areas. THE PROFESSIONAL CURRENCY DEALERS ASSOCIATION is the leading organization of OVER 100 DEALERS in Currency, Stocks and Bonds, Fiscal Documents and related paper items. PCDA • Hosts the annual National and World Paper Money Convention each fall in St. Louis, The 2005 Show will be held November 17-20 at the St. Louis Airport Hilton Hotel. • Encourages public awareness and education regarding the hobby of Paper Money Collecting. • Sponsors the John Hickman National Currency Exhibit Award each June at the Memphis Money Convention, and an annual Literary Award recognizing significant authors' contributions. • Publishes several "How to Collect" booklets regarding currency and related paper items. of these booklets can be found in the Membership Directory. • Is a proud supporter of the Society of Paper Money Collectors. Missouri. Paper Availability To be assured of knowledgeable, professional, and ethical dealings 'N when buying or selling currency, look for dealers who proudly display the PCDA emblem. [ .1 The Professional Currency Dealers Association For a FREE copy of the PCDA Membership Directory listing names, addresses and specialties of all members, send your request to: PCDA James A. Simek — Secretary P.O. Box 7157 • Westchester, IL 60154 (630) 889-8207 • FAX (630) 889 -1130 Or Visit Our Web Site At: 4/7 ( If9v4/11u ndmI Dollars 7:4 74 1 ,41 ,1", 194 May/June 2005 • Whole No. 237 • PAPER MONEY SPMC member Herb Schingoethe succumbs; Name synonymous with U.S. obsolete notes S PMC MEMBER HERB SCHINGOETHE, THE ILLINOIS collector whose name and reputation were syn- onymous with U.S. obsolete currency passed away at the age of 86 on March 18. Herb's wife and collecting partner, Martha, pre-deceased him in January, 2004. Schingoethe joined SPMC in 1972, number #3555. "The Schingoethes were the most famous collectors of every states obsolete notes. Their collection consisted of over 30,000 obsolete bank notes," said Stephen Goldsmith of R.M. Smythe, the firm selected by Schingoethe to auc- tion the majority of the Schingoethe notes in a series of sales which commenced October 22, 2004. Mr. Schingoethe's death cast a pall over the auction's second session which was held five days afterward. But his death did not suppress obsolete note prices which continued to soar, according to an active participant to the floor bidding. Part 3 of the Schingoethe collection sales is scheduled for June 17th, according to an R.M. Smythe spokesperson. Besides obsolete notes, the couple were avid collectors of college currency, depression scrip from 1933 and panic notes that were issued in the 1890s and early 1900s. In 1993 their book College Currency - Money for Business Training (BNR Press) was published. That work was edited by Neil Shafer. The majority of notes in this refer- ence are in the Schingoethe collection, which is not part of the sale. The Schingoethe's donated their college notes to their local university, where their philanthropy helped build and fund the Schingoethe Center for Native American Culture at Aurora (Illinois) University. Prior to the time of his death, R.M. Smythe had announced that Mr. Schingoethe would collaborate on a book on Illinois obsolete notes based on his extensive holdings. Publisher for the book, R.M. Smythe spokesperson Goldsmith told Paper Money the Illinois book would still be published. The Schingoethe's collecting pursuits combined infinite curiosity with seemingly unlimited funds. Woe to the under bidders who chased the same material Martha Schingoethe desired at a numismatic auction, collectors recall. And many have their stories to tell of battles lost over desirable specimens to the couple's lucky #13 bidding paddle. It was partly the results of these bidding "wars," however that prompted the Schingoethe's desire to publically offer their collection at auction and spread it out over many sales so there would be something for everyone and every collector would have a fair chance to obtain rarities from their holdings. Special financing provisions were even written into the sales terms for the auctions at the Schingoethe's urging, so that collectors of more limited means could obtain rare notes with time payments. Herb and Martha will be remem- bered by the hobby for their warm smiles, gentile bearing and helpfulness. Always professionally dressed, many researchers also have delightful stories as guests of the couple on their farm when doing research. More than once, your Paper Money Editor was invited to "come on up and look for yourself," which was Herb's gentle prodding to make his material useful in a variety of ways. Mr. Schingoethe's collecting biog- raphy traces back to his youth. Growing up on a farm, he discovered an arrow- head and so set off on a lifelong interest in Native American Culture which cul- minated in the establishment of the Schingoethe Center. As an adult, Herb managed cattle ranches in the West, which heighten his appreciation for our nation's indigenous cultures. Music and Herb's hobbies as a guitar player and square dance caller, brought him the acquaintance of Martha Dunham when he returned to Illinois to farm. Her father had founded an industrial equipment compa- ny, which proved very successful. After raising two children, she went to work for the company and eventually rose to be chairman of the board. After her first husband passed away, Herb and Martha met. She too loved music, and developed a keen eye for collecting, also. Martha was the more active participant on a bourse floor. "When it came to coins and paper money, Herb collected everything, but it was obsolete currency that Martha liked most of all," Goldsmith noted. "She had the skills and the energy required to organize and maintain a collection that would grow rapidly. Herb had the passion to collect on a grand scale. Their combined energies made it all possible." -- Fred Reed, Editor • A CHOICE UNCIRCULATED 1913 $50 GOLD CERTIFICATE REALIZED $6,325 jjay "r r kl W..)= - 7S1r; 83749770:- /Z„, • •Th attlereti etenntertrYal . .1 A CHOICE UNCIRCULATED 1899 $5 SILVER CERTIFICATE REALIZED $6,440 0 First National Bank, (=.."71011131ZEMIZE“-) , in; 144/111016',1;a1e1 tr/t1,VA1t*MIZ AN UNCIRCULATED LAZY DEUCE ON KANSAS, ILLINOIS REALIZED $7,475 •• Six re,: - 77 t plf, ear. TN ett for Sts• hoe, wist. nthear000xe P.,,C,a ht o Arr. or Agteebly, toldget toe .,th Yea of the Reit. oft, Kog E0G III. Dated he snit 1)31 or 7.3e, ■,(4. A , six-ppen5.c. ód. Six- O a i nfed by 11. FRANKLIN, •aoesd pence. to A CHOICE UNCIRCULATED PENNSYLVANIA SIXPENCE NOTE REALIZED $2,070 PLAN TO PARTICIPATE • FIND OUT ABOUT CONSIGNING YOUR PAPER MONEY to one of our upcoming sales. Call Rick Bagg or John Pack, toll-free 866-811-1804. • BE A BIDDER IN OUR AUCTIONS. Send us an invoice for $500 or more and receive a free copy of our next catalogue. If you send us an invoice for $5,000 or more, we will send you all of our auction catalogues, free of charge, for one year. PAPER MONEY • May/June 2005• Whole No. 237 195 AMERICAN NUMISMATIC RARITIES' BRINGS OVER $4.2 MILLION IN NEW YORK , -,- Z0 1 " -1-'-' .1...- "'__---.- Hb83A IMMitilliti4E111114WIAL ., 4 triffiiiiiiki: '4E% 1 H 8 H683A , 2 9 e 8 ' - 50 A VERY CHOICE EF 1918 FEDERAL RESERVE BANK NOTE REALIZED $10,350 . 2 2 ii ., - Al=?,4: , . :91E1:"Piro.r , --7, _ 1,1115 wEs - Ti^. ..., , ' 4k4NliwAL A CHOICE UNCIRCULATED 1862 $2 LEGAL TENDER NOTE REALIZED $4,370 o --e- ptames.vat,=—etrZe eae•et...otn ext.. — et -• i ' 11101 ---. ^ Tr, , 1 t a , y t>3212.534 tyre . 4 , I '; 44., '.dt ... .21 -11.1ddll6D3=1 CHOICE UNCIRCULATED 1896 EDUCATIONAL $5 REALIZED $9,200 All highlights shown here include the 15% buyer's fee. PO BOX 1804 • WOLFEBORO, NH 03894 • TOLL-FREE: 866-811-1804 • FAX: 603-569-3875 WWWANRCOINS.COM • AUCTION@ANRCOINS.COM P ID .[ ji Pr''!p 1/`5,,/ 196 May/June 2005 • Whole No. 237 • PAPER MONEY Paper Money Editor's Show Me the Money! tells a good story Show Me the Money. The Standard Catalog of Motion. Picture, Television, Stage, and Advertising Prop Money, by Fred Reed (McFarland, 2005. Hardcover, 8 1/2 by 11 inches, 790 pages, richly illustrated). Reviewed by Bob Schreiner, Secretary and Librarian, Society of Paper Money Collectors. When I first heard about Fred Reed's Show Me the Money, The Standard Catalog of Motion Picture, Television, Stage, and Advertising Prop Money, I wondered how this could be of much interest to very many people. Now I know. Reed's book makes the subject compelling to the numismatical- ly inclined and, I would expect, equally appealing to the movie buff. He does that by telling a good story. The book is subtitled "...Standard Catalog..." and it is that. But like the best numismatic books, this one treats its subject in the context of history, contemporary social and legal settings, and patterns of money use. It is a bigger context than I would have expected. For instance, the Mexican Revolution of the early 20th cen- tury played a significant role in contributing to early prop money. Later, the film indus- try actively produced its own prop money, employing enough fantasy to not attract the Secret Service, yet seeking realism on screen. The industry wasn't always success- ful on either count, and that comprises part of Reed's story. The book also succeeds because it is uncommonly visually attractive. A few other numismatic books have as many illus- trations, but Show Me the Money entertains us and illuminates the subject with hundreds of stills from movies famous and (to me, at least) unknown that show money. Many of these appear to be contemporary publicity shots, but some are likely to be screen captures made by the author. They range over at least an 85 year period, and their identification, collection and publication clearance must have entailed an extensive effort. Some are quite great--I love the one on page 115, which exhibits an especially novel use of a note (you check it out!) The book is massive and thorough. The first sections, 202 pages, introduce the material. The section "Memorable Money Shots" is itself a catalog of hundreds of examples of how money has been depicted and used in films and, to a lesser extent, in television, stage, and advertising, chronologically arranged from 1903 through 2003. The focus of the book is paper money, but coins, checks, stock certificates, poker chips, casino tokens and other forms of screen cash are mentioned to illustrate the scope of prop money. The modern production of prop money is as secretive as government-produced money, and this part of the story is consequently brief but intriguing. The Secret Service's involvement is not so secret, and the book tracks how chang- ing laws regulating depiction of and photographing paper money have affected money in movies. One challenge to understanding and cataloging prop money is that little documentation of what (real or fictitious) notes were used in what films has survived. Occasionally, it's obvious from simply watching the scene, but more often slow motion or screen capture is required to glean production details that the film's creators would have preferred remain private. Even then details are elusive. Identifying a specific prop from the film itself is a major pursuit of the movie money collector. The book draws on a wide range of earlier more limited research and includes a bibliography of almost 100 publications. The index runs to 26 pages of near-microscopic text in three columns, but it should be a boon to the collector whose main interest in the book is as a reference. And a reference it certainly is. However, the author characterizes the catalog as a "trial listing." As the first serious history and catalog in a new and incompletely researched field, it will serve to attract other serious collectors' interest and their contri- butions to the second edi- tion. But at 558 pages, the catalog is hardly a limited effort that "trial listing" might suggest. Reed has developed a numbering scheme (Reed numbers) and he includes "relative value" cost estimates. The notes are almost always illustrated with uncommonly large and clear pictures. Cataloging challenges certainly remain. Dating props is often problematic and imprecise. It is not always clear how to recognize that a sur- viving note was intended as a prop. Although most entries in the catalog bear evidence of actual prop use, not all are so identified. One fascinating section attempts to identify por- traits used on the notes, a task that Reed shared with readers of Paper Money in a 2002 article. One note series is identified as bearing the portrait of a prop note salesman. Reed has produced a substantial work in an understudied area of numismatics and numismatic culture while significantly contributing to the history of film. It is an important contri- bution to numismatics and it likely will be the seminal work that delineates prop money as a numismatic specialty, pro- motes new discoveries, and encourages and informs new col- lectors. Show Me the Money is available from the publisher (McFarland, Box 611, Jefferson, NC 28640 or 1-800-253- 2187) or major book outlets such as or at $75 list price plus postage as applica- ble. It is also available from the author at P.O. Box 118162, Carrollton, TX 75011-8162 or . Dealers should contact the publisher directly for bulk purchases. Call Adam Phillips to set up an account or inquire about terms. NOBODY PAYS MORE E Humittaukaumor Vx(P)IlkA*At* --- 8- TROPHY NATIONALS PAPER MONEY • May/June 2005* Whole No. 237 197 * * * * * * * * * * * * * * * * * * * * * * * * * NUMISMANIA RARE COINS ** P.O. BOX 847 -- Flemington, NJ 08822 Office: (908) 782-1635 Fax: (908) 782-6235 * Jess Lipka, Proprietor Also Buying Coin Collections and Type NO DEAL TOO LARGE! ************************* 1 _11— Buying All 50 States, Territorials, Entire State and Regional Collections, Red Seals, Brown Backs, Statistical Rarities, New Jersey. 198 May/June 2005 • Whole No. 237 • PAPER MONEY the man & saga behind the notes by Matt Hansen Chasm ron:g Figure 1 (background): Byron Dunn, circa 1935, after his election as execu- tive vice president of National Bank of Commerce. (Image taken by Townsend Studio of Lincoln, Nebraska. Photo courtesy Matt Hansen.) Introduction WHEN THE SIXTEENTH-CENTURY PLAYWRIGHTChristopher Marlowe penned his now-famous line about "theface that launched a thousand ships," he was referring to thelegendary Helen of Troy. But the concept of how some small enigma often has the potential to lead to a great adventure can certainly apply to research in the field of paper money, too. I got a first-hand lesson in this when a pair of well-worn national bank notes turned up in a local coin shop. Little did I know at the time that they would send me on a quest to learn about the life and career of a remarkable local banker who went from a bank errand boy to the president of one of the largest financial institutions in Nebraska. Along the way, I would have the privilege of meeting some of his family, friends, and colleagues. And by the end of the chase, I found that I had gained a new understanding and appreciation for the man and the national bank notes that he signed. WILL PAY TO THE BEARER ON DEMAND Figure 2 right: Detail of Byron Dunn's autograph signature from the $10 National Bank Note opposite. F000770A NATIONAL BANK OF COMMERCE OF LINCOLN NEBRASKA P;151:01114T,AME0341411BIZIEllti\ 126te- ISCUREBRTVNITEDSTATV. Dn. DEIN.ITEDIn TDB TRIWRIO(ROP , - NATIONAL BANK 4::= OF COMMERCE OF LINCOLN NEBRASKA WILL PAT TO THE BEARER ON DEMAND TWENTY 10401.11EIAES ...C.Q-, L= rl Lir F000770A TWENITDOLLARS REDS AB THE UN D TR 0 CM PAPER MONEY • May/June 2005• Whole No. 237 199 Sparking the Chase It all began with a phone call on March 29, 2003. On the other end of the line was my contact at the local coin shop. He said that he had just pur- chased a couple of very interesting national bank notes issued by National Bank of Commerce of Lincoln (Charter 7239). Both were Series of 1929 Type 1 nationals, but what made this pair unique was the fact that they had been pen- signed by the bank's cashier above his printed signature. Hearing that got me pretty excited, so I stopped by the shop on the way home from work. The $10 and $20 notes were just as described, and promi- nently on the face of each bill in blue ballpoint ink was the signature of Byron Dunn. The notes were in average circulated condition and had apparently changed hands many times over the years. We added one more transaction to their history that day and they went home with me. I have to admit that at the time I bought the notes I knew almost nothing about who Byron Dunn was. I had researched the history of National Bank of Commerce enough to know that Dunn served as its cashier from 1922 until January of 1935. As such, his signature appeared on both the 1902 Blue Seal Plain Backs and the Series of 1929 Type 1 and Type 2 national bank notes that the bank issued. Pursing Leads and Making Contacts When the next meeting of the Lincoln Coin Club rolled around, I took the pair of notes along with me and showed them to one of the long-time members. Much to my amazement, he opened up his wallet and produced the business card of a man named William "Bill" Dunn in Denver, Colorado, who he said he believed was Byron's son. I jotted down the information, and the next day I sent him a letter explaining who I was and why I wanted to visit with him about Byron. I also enclosed copies of the signed 1929 notes. Figures 3: The pair of Series of 1929 Type 1 national bank notes that were autographed by cashier Byron Dunn above his printed signature. Photo courtesy Matt Hansen. 200 May/June 2005 • Whole No. 237 • PAPER MONEY Figure 4: Interior view of National Bank of Commerce of Lincoln in 1907. Pictured from left to right are: Harley Buttery, vice president Carl Weil, Byron Dunn, paying teller Mr. Dunham, and an unidentified cus- tomer. (Photo courtesy Matt Hansen.) A few days later I received an enthusiastic e-mail message from Denver. The man turned out to be Byron Dunn's nephew, rather than his son, but he was veiy excited to know that someone was interested in learning about his uncle. Bill provided me with some family information about Byron, and gave me the contact information for several other family members who he thought I should talk to. One was Bill's brother Robert "Bob" Dunn who lives in Lincoln. Bob is a retired photographer, and kindly loaned me several pho- tographs of Byron. Bill also put me in touch with Byron's only surviving child, Betty, who lives in Lee's Summit, Missouri. As it turned out, Betty had a wealth of memo- ries and photographs of her father. During a trip to the Kansas City area in December, 2003, I was able to meet Betty and her husband Robert Wheeler in person and talk about the life and career of her father, Byron Dunn, whom she lovingly refers to as "Pop." These personal contacts, along with a number of written sources, provid- ed the background of information for the following sketch of Byron's life and career as a national banker. Early Life and Education Byron J. Dunn was born on February 12, 1888, near the community of Bararda in Richardson County, Nebraska. He was the second of five children born to Ira and Elsie Dunn. He grew up on the farm and attended a one-room country school. At an early age Byron displayed an aptitude for numbers and POM 0 R IS THE #1 WHOLESALE SOURCE OF Paper money (historical & modern ), notgeld, coins (Chinese, Roman, modern, etc.), tokens, stamps, checks, Primitive monies, etc. Wholesale list is available on request Please contact us at: P. 0. Box 1-S, Ridgefield Park, NJ - 07660 - USA Toll Free: 1-800-775-8450 Telephone: 1-201-641-6641 / Fax: 1-201-641-1700 ALEX PERAKIS COINS & CURRENCY PAPER MONEY • May/June 2005• Whole No. 237 I R-U Ritin' a Buk? I can help you.. . ltd We write right!" Books, Magazines, Newsletters That Connect with Readers Fred L. Reed III Publishing Consultant/Editor 5030 North May Avenue # 254i Oklahoma City, OK 73112 E•mall: "The Art & Science of Numismatics" 31 N. Clark Street Chicago, IL 60602 312/609-0016 • Fax 312/609-1305 e-mail: A Full-Service Numismatic Firm Your Headquarters for All Your Collecting Needs 201 WE HAVE TO BUY and are willing to pay substantially over green sheet bid for certain issues WE BUY IT ALL from VG to Superb Gem Specializing in: • United States Large & Small Type Notes •Large and Small Nationals • Obsoletes •Fractional Notes (a large selection] All Want Lists are cheerfully accepted and conscientiously pursued for the beginning, as well as the advanced collector. Krause Publications Customer Service Award Recipient 115 consecutive yearsi ALEX PERAKIS Member ANA, PCDA, SPMC, FCCB, CCCC P.O. Box 246 • Lima, PA 19037 Fax: (610) 891-1466 Phones: (6101565-1110 • (610) 627-1212 E-mail: In Arizona (520) 544-7778 • Fax: (5201544-7779 •• VI"a7-`Y{ r v:(2,7; NT -" 6 TWIENTIr. 202 May/June 2005 • Whole No. 237 • PAPER MONEY Figure 5: The Potvin Block on the southeast corner of 13th and '0' Streets in downtown Lincoln was the first home of National Bank of Commerce from 1902 through 1923. (Image taken by Macdonald Studio of Lincoln, Nebraska. Photo cour- tesy James L. McKee.) arithmetic. One of his teachers picked up on this fact and encouraged the young man to consider pursuing a career in banking. Byron remained on the family farm until he completed high school and then set his sights on higher education. Comer College in Bethany, Nebraska, which was at that time an independent suburb of Lincoln, offered courses in bookkeeping and accounting. It was enough to entice Byron to leave rural life behind and move to the city, where he immediately enrolled at Comer. To help pay the bills he found part-time work as an employee of the First State Bank of Bethany. Dunn quickly completed his business courses at Comer College, and graduated with the Class of 1905. Figure 6: A Series of 1902 Plain Back $20 note from National Bank of Commerce bearing the rubber- stamped signatures of president Morris Weil and cashier Byron Dunn. (Photo cour- tesy Matt Hansen.) PAPER MONEY • May/June 2005• Whole No. 237 203 Starting Out with NBC Immediately after graduation, Byron succeeded in landing a job as an errand boy for the National Bank of Commerce of Lincoln (NBC). Little did he realize at the time that this lowly start would eventually take him to the top position in that bank. NBC had been originally been organized by Morris Weil in 1902 with a state charter as the "Bank of Commerce." The new bank opened its doors on the southeast corner of 13th and '0' Streets in downtown Lincoln. Two years later, Weil reorganized his institution as a national bank, changing its title to "National Bank of Commerce of Lincoln." And on April 30, 1904, the bank was granted charter #7239. Still living in Bethany at the time he started working for NBC, Byron Dunn commuted to and from work by bicycle. He continued his education by taking night classes at the University of Nebraska. When NBC got its first adding machine in 1907, Dunn was the first employee to learn how to operate it, and he became very proficient. Year by year, he slowly began to work his way up through the ranks, and by 1911, he was the head of the bank's new Savings Department. Through social activities connected with the Bethany Christian Church, Byron became acquainted with Evelyn Catherine Wilson. To her friends she was known simply as "Eva." After a brief courtship, she and Byron were mar- ried on September 20, 1911, at the home he built in Bethany. Their first son, Gerald, was born in 1913, and another boy, Ronald, followed in 1915. Sadly, Ronald died on June 15, 1917, from diphtheria. Eventually a daughter, Betty, would join the family on April 19, 1920. Growth and Advancement Figure 7: A 1923 snapshot of the "new" National Bank of Commerce building under construction on the northwest corner of 13th and '0' Streets in downtown Lincoln. (Photo courtesy James L McKee.) As NBC continued to grow, the bank found its old quarters increasing cramped. In 1922, the bank's Board of Directors voted to erect a new building diagonally across the intersection on the northwest corner of 13th and 'O.' Although it was only 25 feet wide, the new bank building was seven stories tall and 150 feet long when it was completed in 1924. It would be the home of NBC for the next 50 years. On January 11, 1922, Byron Dunn was elected as NBC's cashier and his sig- nature began to appear on the bank's Series of 1902 Plain Back national bank notes. Sometime around 1923, Byron and two other bank employees posed for a remarkable photograph in front of the bank's vault. In the image the new cashier proudly holds a bundled stack of large size currency while a fellow employee displays uncut sheets of NBC's Series of 1902 national bank notes bearing the signatures president Morris Weil and cashier Byron Dunn. 204 May/June 2005 • Whole No. 237 • PAPER MONEY The Cowboy Cashier Figure 8: Portrait of Byron Dunn as cashier of National Bank of Commerce taken in late 1923 by Townsend Studio of Lincoln, Nebraska. (Photo courtesy Matt Hansen.) During Byron's term as cashier, the bank began purchasing a large num- ber of livestock loans from correspondent banks in Kansas City and Denver. Livestock prices had diminished significantly during the economic downturn of the early 1920s, and as ranchers began to default on their loans, many of the smaller banks in Denver and western Colorado started to fail. The ranchers were literally turning loose of their herds and their financial obligations. By 1924, there was a growing con- cern among the officers and directors of NBC that the Colorado loans they now held would not be repaid. Unwilling to let the loans simply be written off as bad debts, Byron Dunn was instructed to recruit a group of armed cowboys and head for western Colorado. The plan was to round up as many of the defaulting ranch- ers' wild-roaming cattle as they could find and ship them to market to cover some of the losses on the loans. Byron quickly discovered that he and his posse weren't the only ones trying to claim these cattle. A number of alterca- tions broke out between rival ranchers and Dunn's hired guns. The NBC cashier ended up in the hospital; the victim of an apparent attempt to poison him with a bot- tle of soda pop that he was served at Colorado diner. Dunn recovered from the incident, and his cowboys eventually rounded up enough livestock to liquidate many of the loans. Looking back on the events years later, he recalled: "Some people claim that possession is nine- tenths of the law, and here it was eleven-tenths, and as I had more cowboys and more guns, we were able to keep most of the cattle." Back to Business Following his Colorado adventures, Byron returned to Lincoln and his family. The Dunn's were dealt another tragic blow on November 1, 1925, when their first-born son, Gerald, passed away. This left Byron and Eva with Betty as their only surviving child. On March 25, 1929, Byron was promoted to hold the dual offices of vice- president and cashier. His signature as cashier remained on NBC's national bank notes when the Series of 1929 notes were introduced later that year. Unfortunately, 1929 also brought with it the stock market crash that plunged Nebraska and the rest of the nation into the Great Depression. NBC weathered the lean years of the early 1930s in the role of a major correspondent bank. Under the skilled guidance of bank president Morris Weil, the bank helped to support many of its smaller correspondent banks and keep them viable during the economic hard times. Following President Roosevelt's "Bank Holiday" in 1933, NBC was quickly allowed to reopen for business. Byron Dunn was elected as executive vice president on January 9, 1935, and turned the office of cashier over to B.G. Clark. Throughout the remainder of the 1930s and into the 1940s, the bank's deposits grew under the combined leadership of Weil and Dunn. PAPER MONEY • May/June 2005• Whole No. 237 205 Reaching the Top On June 11, 1945, at the age of eighty-six, Morris Weil passed away. He had been at the helm of National Bank of Commerce of Lincoln since its inception, and his loss was felt throughout the community. In the wake of Weil's death, NBC's Board of Directors unanimously appointed Byron Dunn to serve as the bank's president and chief executive officer. Byron quickly moved for- ward with plans to enhance NBC's image as a full-service, family-orientated bank. He launched a significant advertising campaign and made the bank a prominent supporter of commu- nity activities. Bank employees were encouraged to get involved in civic affairs, and Dunn himself became a leader in the communi- tY. One of NBC's largest promotional campaigns was launched in 1950 and termed the "50-52-50 Club." Dunn established it in anticipation of the bank's upcoming 50th Anniversary. His goal was for the bank to reach the mark of having $50 million in deposits by 1952 when its Golden Anniversary arrived. The campaign was an overwhelming success, and NBC celebrated the occasion with a party for customers and employees at the Nebraska State Fairgrounds. Under Dunn's leadership, the bank continued to expand and grow. It again demonstrated its progressive approach in 1953 by offering customers the "Charge Account Service." This service, which allowed them to shop at many different stores with a single credit card, was a precursor to Master Charge that would be introduced some 15 years later. Although only successful on a limit- ed scale, NBC's Charge Service Account demonstrated that the bank remained on the cutting edge of financial services for its customers. Winding Down Byron Dunn remained in his role as the president of NBC until March 25, 1961, when he stepped down at the age of seventy-three. He continued on as chairman of the Board of Directors until December 31, 1963. Even after his official retirement from the bank, Dunn remained involved in community and civic affairs. He was also appointed to serve a term as the State of Nebraska's Director of Banking from March 1966 through January 1967. When he passed away from a stroke at the age of eighty on January 20, 1969, Byron Dunn had given more than six decades of service to National Bank of Commerce and the community of Lincoln. During that time he had risen from an errand boy to become the president of one of the largest banks in the region. Dunn was also widely recognized and honored as a civic leader who put the interests of the community before his own. The legacy that he left behind continues to the present day. Figure 9: This remarkable image, taken around 1923, shows Byron Dunn (far right) and two fellow NBC employees in front of the bank's vault. Dunn cradles a bundled stack of large size currency, while the other gentle- man holds uncut sheets of NBC's Series of 1902 Plain Back national bank notes. Computerized magnifica- tion of the image reveals that the sheets are signed by president Morris Weil and cashier Byron Dunn. The woman standing next to Dunn is iden- tified only as Mrs. Weston. (Photo courtesy Betty Wheeler.) 206 May/June 2005 • Whole No. 237 • PAPER MONEY Conclusion: So What about those Signed Notes? Figure 10: National Bank of Commerce as it appeared circa 1957 during the presidency of Byron Dunn. Photo courtesy Wells Fargo Bank. Byron Dunn died more than six years before I was born, and it would be another 27 years before the pair of notes he autographed walked into my life. The chase they took me on taught me a great deal about the man himself and provided me with the priceless opportunity to meet members of his family. But what about the notes? Why were they signed in blue ballpoint ink by this prominent Lincoln banker? It was a common practice during the middle part of the twentieth century for banks that were celebrating milestone anniversaries to take a retrospective glance back over their past. In many cases, those banks that had issued national bank notes remembered fondly the days when notes bearing the bank's name and the signatures of its officers had been paid out over the counters. It was not uncommon during these anniversaries for any of the note signers who were still living to autograph surviving examples their national bank notes as sou- venirs for bank employees and customers. Although first patented in 1938, the ballpoint pen did not gain wide- spread public acceptance in the United States until about 1950. Coincidentally, National Bank of Commerce of Lincoln celebrated its 50th Anniversary in 1952. All of the bank's Series of 1929 nationals bore the printed signa- tures of Morris Weil as president and Byron Dunn as cashier, but by 1952, only Dunn was still liv- ing. Do these facts offer conclu- sive proof that the pair of notes were autographed by Byron Dunn during NBC's 50th Anniversary celebration? All we can do is speculate since historical sources fail to mention any formal note-signing ceremony at the bank. The evi- dence certainly points in that direction, but perhaps the only person who knows the real answer is Byron Dunn himself. Acknowledgements The research that led to this article could not have been possible without the assistance and contributions of a number of individuals. Betty (Dunn) Wheeler, the daughter of Byron Dunn, provided a wealth of information, remembrances, and photographs of her father. The late Bill Dunn contributed valu- able family history information about his uncle Byron and was PAPER MONEY • May/June 2005• Whole No. 237 207 Longterm SPMC member Jerry Remick dies in Quebec CANADIAN GEOLOGIST AND EXTRAORDINARYnumismatist Jerome H. "Jerry" Remick III died at his home in Quebec City March 1st. He was born in 1928. A 40-year member of SPMC (#742), Jerry con- tributed more than two dozen articles to this journal on a variety of worldwide paper money subjects, as well as many book reviews. He was also co-author of Guidebook and Catalog of British Commonwealth Coins, 1662-1969. Though Jerry was English-speaking and born in the U.S., he worked in French for the Quebec Department of Natural Resources during his long career as a geologist, which spanned more than 35 years. A colleague recalled his co-worker, "Amongst our geologists, he was was certainly one of the most prolific. In Quebec, Jerry was known as Jerome and was very appreciated by his colleagues as well as the mineral exploration industry." Mr. Remick retired about 10 years ago. Notice of Mr. Remick's death appeared in Le Soleil, the Quebec City newspaper on March 5th 2005. He apparently died alone in his apartment and was dis- covered several days later. Jerry was related to American actress Lee Remick. The family has asked instead of condolences, that remem- brances in Jerry's name be given to the charity of their choice. WANTED: NATIONAL BANK NOTES Buying and Selling Nationals from all states. Price lists are not available. Please send your want list. Paying collector prices for better California notes! WILLIAM LITT P.O. BOX 6778 San Mateo, California 94403 (650) 458-8842 Fax: (650) 458-8843 E-mail: Member SPMC, PCDA, ANA Jerry Remick R.I.P. I am very sorry to hear of Jerry's death. I only "knew' Jerry in the 1970s when I was at Coin World and I knew him best (I'll bet many of us did) by his let- terhead which listed dozens and dozens of numismatic affiliations. At first this struck me as somewhat off-putting, especially when his stationery would be amended by hand as organizations would tran- spire or he'd join others. As time went on, however, and Jerry's many writings (especially book reviews and notices) would reach my desk, I came to realize that he was a genuine decent individual with a great many interests and by golly some of them were my inter- ests too. So this individualistic approach was an excellent way to reach out across the miles and make "friends." Jerry's great diversity of interests made him kind of a one-man wire service in the days before the internet, and surely a Renaissance spirit in our hobby. He will be missed by his many correspondent "friends." -- Fred Reed, Editor Announcing the Confederate Paper Money Condition Census Project •Building a census and provenance of the top CSA currency rare varieties. •Updates to be published as supple- ments to new Collecting Confederate Paper Money book by Pierre Fricke. •Do you want to be remembered 100 years from now by future collectors? •Privacy and anonymity maintained at your request. Long time rarity and variety collector (32 years) — U.S. Large Cents, Bust Halves, now CSA paper money and bonds. Member EAC, JRCS, SPMC. From long time Louisiana family. Please write to - Pierre Fricke, P.O. Box 245, Rye, NY 10580; ; eBay — "armynova" 208 May/June 2005 • Whole No. 237 • PAPER MONEY Figure 10: Two months after his official retirement from National Bank of Commerce, Byron Dunn sat for this portrait on February 12, 1964. (Photo courtesy Bob Dunn.) the catalyst for putting me in touch with the rest of the Dunn family members. Bob Dunn supplied pho- tographs and family information about his uncle. Brad Korell, presi- dent of Wells Fargo Bank in Lincoln, Nebraska (the successor to National Bank of Commerce of Lincoln), gen- erously allowed me repeated access to the bank's archive of materials related to Byron Dunn and National Bank of Commerce. Peter Huntoon graciously provided copies of the cer- tified proofs sheets for Charter 7239 from the collections of the Smithsonian Institution in Washington D.C. Gerome Walton inspired me with the passion for col- lecting Nebraska paper money and provided information about bank anniversary signings of national bank notes. Sam Whitworth encouraged me to research and document the lives and careers of Lincoln, Nebraska's, national bankers. Jim McKee supplied several historic pho- tographs of NBC's buildings. And finally, John Veach recognized the significance of the pair of notes signed by Byron Dunn and kindly directed them into my hands and heart. This article is gratefully dedicated to Bill Dunn, who passed away during its preparation. He did more to facilitate its completion than he could have ever imagined. The author invites readers with information or materials associated National Bank of Commerce or any of the other national banks in Lincoln, Nebraska, to contact him at . Sources of information Duey, Marian, and Thelma Franzen. Dunn Family Genealogy. Self published (1990). Haller, Ben Jr. A History of Banking in Nebraska 1854-1990 in Recognition of the 100th Anniversary of the Nebraska Bankers Association. Nebraska Bankers Association Inc. (1990). Huntoon, Peter. United States Large Size National Bank Notes. Laramie, WY: Society of Paper Money Collectors (1995). Lincoln Kiwanis Club. The Lincoln Kiwanis Club Presents to Byron Dunn the Kiwanis Medal for Distinguished Service. Lincoln, NE: Fred Arnold Printing (1965). National Bank of Commerce. Fifty Years Service to a Community. Lincoln, NE: National Bank of Commerce (1952). National Bank of Commerce of Lincoln. National Bank of Commerce: An Historical Perspective on Seventy-Five Years of Growth, 1902-1977. Lincoln, NE: National Bank of Commerce (1977). Walton, Gerome. A History of Nebraska Banking and Paper Money. Lincoln, NE: The Centennial (1978). Warns, Owen (ed.), Peter Huntoon, and Louis Van Belkum. The National Bank Note Issues of 1929-1935. Chicago, IL: Hewitt Bros. (Second Printing, 1973). Yaussi, Glenn. National Bank of Commerce: Seventy-five Years of Service to Nebraska. New York, NY: The Newcomen Society (1977). 209PAPER MONEY • May/June 2005* Whole No. 237 What: When: Scotsman Auction Company live public auction. 225 currency lots. Wednesday, May 4th, 2005. One day before dealer set-up for Central States. Auction starts at 4pm cst. Call 800.642.4305 for catalog information LIVE PUBLIC AUCTION MAY 4th The Spring Collection 2005 Sweetwater, TX E Lot 120 Fi --------";-; 0010,00111;jpg0 K327515E..., ,...,..4...t. c om - 1* ,- ,,. ' ' •41— :NO-44 .40Nrngt. S :mut lipeusTatIONIONCWasovarisis $1000 Gold Certificate AU. Lot 168 225 Paper Money Lots Where: St. Louis, MO Renaissance Grand Hotel (Across the street from America's Center) 800 Washington Ave. 314-621-9601 9n2g ,-;■+misramaaw=awmcgrampagkozwars.",Thessusw, TEIEVNIITEDSTATESOPMIIIIMMIL ...111.3.1T„TratalLINAL,...17.1). 2111111.„..112(411111. „IMO JCOTSIVAN AUCTION CO. Little Rock, AR VE Lot 6 0 -).;:z -.., .ecer..oi... :?..3.3...A..744I.C. , •, 1,-}, " 44 (11010101M11;;VITifit E472416A c't 4141.14114.4.14.14,14Zi4iL) .44 ;4% lar4irmautera CO 04-E-161-SI"' S Niiir10 AMO01i 3319412101233P Tombstone, AZ VE Lot 8 UiITiTrsoriMrIcA isukaat' xvistWL,---1-44.00E: G439 ' -.Wlii.17641,4110.1=1411A11.17&111,1i1 Iftailtr .4 441A.Z. 4/4.04. Lakeland, FL VG. Lot 14 IIMASIMMFAMOffli 1391.3L< OWN* S " 9011 (34112SUEESVIOP Yellowstone Billings, MT VG. Lot 98 m 100,11.MilEjt9ktvrs - AIf) N. ill • ".Iii 533 s , . 210 May/June 2005 • Whole No. 237 • PAPER MONEY Welthea M. Marsh National Bank President Karl Sanford Kabelac Above: First National Bank, Groton, NY, at the turn of the 20th Century as illustrated on a bank check. (Courtesy Penny J. Beebe) T LEAST FOUR WOMEN SERVED AS NATIONAL BANK presidents in New York State before 1900. One of these pioneering women was Welthea M. Marsh of Groton. Welthea M. Marsh. (Courtesy Groton Historical Society) Groton is a village in Tompkins County in central New York. It is 16 miles from Ithaca, the county seat, which is the home of Cornell University. Its population in the 1890s was about 1,300 people. Welthea M. Backus was born in the village on January 2, 1841, the daughter of Artemas and Sophia Backus. In 1862, she married Dexter H. Marsh, also a native of the village. He was a few months older than she. They had three children, a son who died in infancy, a daugh- ter who died in the 1890s, and a daughter who survived both parents. As a young man, Dexter worked in his father's store, and in 1858 took it over. After seven years, he sold that business to his brothers and helped organize the First National Bank of Groton (charter #1083) which opened in May 1865. For the next 25 years, he served as the cashier of the bank and then, in 1890, became its presi- dent. He was also involved in a number of other businesses in the village, including the Crandall Typewriter Company and the Groton Carriage Company both of which he served as president. He suffered from poor health for several years and died in Chicago on November 28, 1895 of pneumonia. He was on the way back to Groton from a business trip to Colorado and had stopped in Chicago to visit his brother. His obituary in the Groton paper was headlined, "Our Great Loss" and noted his "untiring energy, wise counsel and clear judgment." Mrs. Marsh had been elected a director of the bank nearly two years before, at the annual meeting of the bank on January 9, 1894. At her husband's death, she had inherited about a third interest in the bank. So it was not sur- prising that at the January 14, 1896, annual meeting, she was elected the bank's president. She was to serve in this capacity for the next six years, before retiring from the office and selling her holdings in the bank. She also was involved in several of the local business, serving for example as a director and president of the Crandall company and as director and trea- surer of the Groton Carriage Company. In addition she was a member of sever- al clubs in the village, including the Political Equality Club, and the Columbian ,1/ //rt. /1"1.,.. 77//iall T W 0 DOLLAR g; -I040;000000CHOt iDlit.)4 4** .100)(0410001aV = a I F !GIB= 11 7, *LeD4M0,01c* / / / / / •, • THE BANKOF S LOUIS V Cash': MISSOURI St. Louis Welcomes You to the 20th Annual National and World Paper Money Convention Thursday-Saturday, November 16-19, 2005 (Free Admission) St. Louis Airport Hotel, 10330 Natural Bridge Road, St. Louis, MO 63134 Rooms $104.00 Call (314) 426-5500 • 75 Booth All Paper Money Bourse Area • Lyn Knight Auction • Society Meetings • Educational Programs • Complimentary Airport Shuttle Bourse Applications: Kevin Foley P.O. Box 573 Milwaukee, WI 53201-0573 414-421-3498 E-mail: Show Hours: Wednesday, November 16 2PM-6PM (Professional Preview--$50 Registration Fee) Thursday, November 17 Noon-6 PM Friday, November 18 10AM-6PM Saturday, November 19 10AM-6PM Future Dates: 2006 2007 November 15-18 November 14-17 PAPER MONEY • May/June 2005 • Whole No. 237 211 -E7allifj3CW $111W100. V `•• 40t Witkor7tatl iii 17.. ANIVIC=k1T May/June 2005 • Whole No. 237 • PAPER MONEY 'ID .,, ki,. 1-4fia tuitsztat ..ftf",,.VM-00 trA614.1.W.i. ilak ;ifeiMpfrr" . ' liat' 4raLD . '+`' -. .)3Wit' 4 1 4_ - 1 ... ? ,u... ..,t ,17,,,th.., LMitra trittabr 41•441rAVOU Err ■ atomultint -T 38981 iltS2,1 ttotirijDttui II 'tZ t 1 xi R., 212 /-400 Alot iliiraa..y" ass ss Club which was a literary and social women's club. She, as had been her hus- band, was active in the Congregational Church in Groton. An 1897 Atlanta newspaper article credited her as being the only woman, by right of her national bank presidency, to sign currency. Apparently unknown to this journalist of a century ago, there were several other women national bank presidents at this time who were also presumably signing their banks' notes. But any woman national bank president then would have held a very unique role for the time. This same article noted that "she keeps as sharp an eye upon the business of the institution as the keenest man who could be placed in that position." In her retirement, she continued to live in the village. Her death occurred after some months of ill health on October 23, 1909. Her obituary noted that she "spent her entire life in our midst and for many years has been identified not only with the social and religious organizations of our village but also with several of its business enterprises. Her death has left a large blank in our community." She was survived by her mother, her daughter, and a granddaughter. The First National Bank of Groton continues to serve the commu- nity and surrounding area. In the 1970s it moved from its 1869 building to a modern new banking facility nearby. It has fairly recently opened a branch in the nearby community of Moravia, and today the 140-year-old bank has assets approaching 100 million dollars. Sources and Acknowledgements The Groton and Lansing journal carried an obituary for Welthea M. Marsh on October 27, 1909, and a much longer article on her funeral in the November 10, 1909 issue. An obituary on Dexter Hubbard Marsh appeared in the same paper on December 5, 1895. The Landmarks of Tompkins County (1894) contains a biographical sketch on Dexter H. Marsh in part II, p. 24-25. The book, Groton, N. Y. and Vicinity, which is v. 7, no. 1 of "Grip's" Valley Gazette for October 1899 contains many mentions of the Marshes, especially pp. 14-15 on "The First National Bank" and p. 20 with pictures of both Mrs. Marsh and her home in the village. Lee Shurtleff authored a History of the First National Bank of Groton which appeared in 1985. In addition to those mentioned with the illustrations, I would like to thank Diane Nelson, Juanita Griffin, April L. Scheffler, and Albert F. Kaminsky, Jr. for their help. A Series 1882 Brown Back $20 national bank note signed by W. M. Marsh as president and H. G. Moe as cashier. (Courtesy Bill Litt) From the Atlanta Constitution, April 11, 1897, p. 26. WOMAN WHO IS NOW A BANK PRESIDENT Groton, New York, Lady Wins a Front Place Among Financiers, LOOKS AFTER ALL THE LOANS Mrs. W. M. Marsh Has Shown Ability To'tope with Men in Her Work. SNE KNOWS ALL ABOUT MONEY MATTERS Is the Only female Who Signs Bank Bills That Go Out as Le- gal Tender. Groton. N. V. April 5.—(Spoeial Corre- spondenee.)—MrS. W. 'M. Marsh. of this ptsee. is the only woman whose signature appears on bank bills. This happens be- Alabama Large Size Con trrillitt .51(161ITIE, kilitty141W410" 44.1A.U.O. ri.:22mrasKom-- Top Prices Paid David Hollander 406 Viduta Place Huntsville, AL 35801-1059 _,r-05;23E (1) r^ rt vrt4P*A-P, ImArikow G5790 .rmizithcarf. 1 4184 rill,. 41G eget ="'S -'1C Nobody pays more than Huntoon for ARIZONA & WYOMING state and territorial Nationals Peter Huntoon P.O. Box 60850 Boulder City, NV 89006 702-294-4143 PAPER MONEY • May/June 2005• Whole No. 237 213 R.M. Smythe celebrates 125th anniversary C ELEBRATING ITS 125TH YEAR OF BUSINESS,New York paper money and scripophily auction house R.M. Smythe plans a series of events to focus attention on the firm's longevity, a company spokesman revealed recently. It was 1880 when a young stockbroker started a company to help people find out about stocks and bonds they had lost track of, hope- fully to find some extra dol- lars when his research was completed. Roland M. Smythe was the first and foremost "stock detective" in America, writing the definitive texts in the field and continuing to provide help for investors until he died in 1931. Several generations later, his firm, known as R.M. Smythe & Co., Inc., continues, and investors are still asking for help in this arcane area of the stock market. And now there is more to the story. As the years went by, the beautifully engraved certificates, often with splendid vignettes, which Roland Smythe researched, came to be admired as collectible works of art. The exciting history rep- resented by the certificates added to collectors' interest. And as physical stock and bond certificates were replaced by com- puter bookkeeping, scarcity of certificates fueled the market. Banknotes, coins and autographs were soon added to the range of collectibles, and now, 125 years later, R.M. Smythe & Co., Inc. has become a leading numis- matic auction firm with offices in downtown Manhattan, just as they have been since 1880. "We continue to serve investors as we always have, and we are discovering growing num- bers of collectors fascinated with this aspect of American history," said Diana Herzog, President of Smythe, "and now we are finding collectors around the world, as well." Smythe's offices are at 2 Rector Street, and include a numismatic shop with a full range of coins, banknotes, stock and bond certificates, and beautiful- ly framed theme pieces for decorative use. A program of anniversary events will be announced as the year goes on and visitors are always welcome. For further information, please visit Smythe's website at www.smytheon-, or call toll free: 800-622-1880. 214 May/June 2005 • Whole No. 237 • PAPER MONEY M ANY COLLECTORS OF NATIONAL BANK NOTES ARE familiar with the $100 Type 1 notes issued by The Union Planters National Bank and Trust Co. (charter #13349) of Memphis, Tennessee. It has supplied collec- tors with Uncirculated examples of Tennessee high denomination notes for many years. Fortunately, someone at the bank saved several original packs of the $100 denomination, as well as many uncut sheets of $10 and $20 Type 2 notes. But did you know that in the short time frame of the issuance of small size nationals, there were four presidents of the bank? Therefore, you can col- lect Union Planters notes with the signature of all four of the presidents. You also may not know that Union Planters came to within a hair of collapsing in the fall of 1931! UNION PLANTERS NATIONAL BANK a TROST COMPANY OF MEMPHIS TENNESSEE Its Small Size National Currency and Presidents 1929-1935 by Greg Culpepper Union Planters National Bank traces its history to the DeSoto Insurance Company and its conversion to a state bank in 1869. Some $671,300 worth of stock was sold, making the Union and Planters Bank of Memphis (as it was known then) four times as large as the German National Bank (charter #1636), the town's biggest bank at the time. William M. Farrington served as the first president of the bank from 1869 to 1874. Union and Planters was a cotton bank, primarily. Its board of directors came predominately from the surrounding cotton plantations. The bank prospered in the years after the Civil War (or the "War of Northern Aggression" as it is known here), and became the rock of the financial commu- nity in western Tennessee. There were a few years of uncertainty, such as the yellow fever epidemic of 1878, and the tough banking year of 1893, but Union and Planters emerged from each trial a stronger financial institution. In 1918, Union and Planters purchased the Mercantile National Bank (charter #10540) and turned the building into its first branch office. In 1924, bank vice-president Robert Polk went missing, along with $41,958 in cash and $19,284 in Liberty Bond proceeds. The president at that time, Frank Hill, had a close business relationship with his vice-president and was rumored to be an accomplice. Polk arrived in town a few days later and promptly shot himself in the head before he could answer any questions. Needless to say, Mr. Hill was replaced as president the following month by Frank Hayden. Late in 1924, Mr. Hayden decided to move the bank's main office down the street to a larger facility. The bank's mortgage bonds were underwritten by Rogers Clark Caldwell of Nashville. Thus the association with the man responsible for the largest financial collapse the south had ever seen was begun. Rogers Caldwell was the son of James Caldwell, president of Fourth and First National Bank of Nashville. He had built the Cumberland Telephone & Call for Quotes 80 7-3010 The South's oldest and largest to op sin'` ' ersYour Hometown Currency Hea EARLY AMERICAN HISTORY AUCTIONS Sign Up to Receive Our Fully Illustrated Catalogs Free Online or Only $72 for a Full Year Subscription of Six Bimonthly Printed Catalogs AUTOGRAPHS • COINS • CURRENCY • AMERICANA • MAPS Every Auction Lot is Now Available for Online Viewing... 110.411.14104§Ag.t. Consign Your Important Material • Phone Dana Linett Today! EARLY AMERICAN • P.O. Box 3507 • RANCHO SANTA FE, CA 92067 (858) 759-3290 OR FAX (858) 759-1439 • WANTED t orida onals, ens I 0 a Gold, Silver, and Platinu In Stock for late livery Products Top prices paid for all National Bank Notes, ollectionst -td Estates Large Inventory of National Bank 1 otes for sal See Our Website at or et us at wym WILLIAM YOUNGE AN INC 95 South Federal Highway, 3, oca Raton. FL 33432 P.O. Box 177, Boca Raton, L 29-0177 (mailing) (561) 368-7707 (in Forida) • (800) 327-5010 (outside Florida) (800) 826-9713 (Florida) • (561) 394-6084 (Fax) Members of FUN, CSNA. ANA and PNG PAPER MONEY • May/June 2005• Whole No. 237 215 F000518AUNION PLANTERS NATIONAL RANK O TRUST COMPANY OF !1 EMPIIIS TENNES57.E WILL PAY TO THE BEARER ON DEMAND FIVE DOLLAICS F000518A N%TIONAL CURRENCY ECURECIINUNITEO STATESTONOSEEPOSITEDISITUTHE TREASURER OF VILD0014- 1.13Xliiirt_j1W — 216 May/June 2005 • Whole No. 237 • PAPER MONEY Series 1929 Type 1 $5 with the signature of William White as President and Edward C. Tefft as Cashier. Telegraph Company into Southern Bell and made millions on its sale to AT&T. In 1912 he merged the First National Bank of Nashville (charter #150) with the Fourth National Bank (charter #1669) and became the only president of that institution. His son, Rogers, began his career selling bonds in 1917. Capital was in short supply in the south and his firm, Caldwell & Company, filled the void in major financing needs in the south. The firm underwrote bonds that built such southern landmarks as Baylor University in Dallas and the Kentucky Hotel in Louisville. The younger Caldwell was a skillful salesman, but not a skillful manager, and most of the business done by Caldwell & Company was done on borrowed money. On July 7, 1928, a run began on the Union and Planters Bank, and $2.5 million was wired from the Federal Reserve Bank in Memphis. By 9:00 p.m. the bank was able to satisfy the demand for withdrawals. The following Monday morning, July 9, 1928, another run began. The run did not ruin the bank, as it amounted to only 3% of deposits, but did cause concern to the pres- ident, Frank Hayden. With a surplus and reserve of only $700,000, Mr. Hayden wondered what damage could be done the bank if economic downturn occurred, rather than what "fools and gossip" said. The conclusion of the directors was that the bank needed an infusion of new capital and by November, 1928, Mr. Hayden and a couple of other directors had narrowed the choice down to one candi- date: Rogers Clark Caldwell. Little did the directors know, but Mr. Caldwell was looking for another bank to acquire to help fund his collapsing empire. By May, 1928, Caldwell had bought 51% of the Manhattan Savings Bank & Trust Company in Memphis. William White, president of City Savings Bank, helped arrange the deal and then sold his bank to Caldwell, via a merger with the Manhattan Bank. Mr. White then approached Mr. Hayden about combining the Manhattan Bank with Union and Planters and on December 27, 1928, plans were made to give Memphis the largest capitalized bank in the south. The stock price went from $160 to $250 in a single day. Also in the plan, and thankfully for currency collectors, the decision to have Union and Planters apply for a national charter was made. Union and Planters became Union Planters National Bank and Trust Company, charter #13349, on July 9, 1929, and it became official. Almost immediately, Caldwell & Company began using funds from the bank. By March of 1929, $2.438 million had been borrowed. Some of the bank's directors noticed the outflow of funds and during the bank's application for national charter, a legal firewall was instituted that prevented Caldwell & Company from using any more funds from Union Planters. This firewall saved the bank. On October 7, 1929, William White was elected president of the bank, SEIMMDOVVIITEDgrAY63802,10SIOSITEDIVIVITIMTIMAStitia 101, IMOMOUliffiffi EPO filiffilliPit. B UNION PLANTERS NATIONAL •e::°- 9000590A SANK U TRUST COMPANY Of MEMPHIS TENNESSEE C3 wm , PAY T. THE BEARER ON OV4ANI, ONEITIMIEDDOLLATIS 9000590A PAPER MONEY • May/June 2005• Whole No. 237 217 while Frank Hayden became chairman of the board. Mr. White was aligned with Rogers Caldwell. On October 24, the stock market collapsed, and the securities that Mr. Caldwell owned became worthless in a few short days. Unable to repay loans, Caldwell & Company began collapsing in 1930. In April, 1930, Union Planters demanded repayment of the $2.48 million that Caldwell had borrowed and on July 21 the board of directors fired William White and replaced him with Edward Peacock, from Clarksdale, Mississippi. Mr. Peacock had been the founder of the Bank of Clarksdale and brought with him a spotless reputation as a conservative banker. On November 14, 1930, Caldwell & Company went into receivership. The collapse caused runs on affiliated institutions and sent the following national banks into receivership: The National Bank of Kentucky at Louisville, charter #5312; The First National Bank of Paducah, KY, charter #1599; The Fourth and First National Bank of Nashville, TN, charter #150; The Holston- Union National Bank of Knoxville, TN, charter #4648; The East Tennessee National Bank of Knoxville, TN, charter #2049; The Tennessee-Hermitage National Bank of Nashville, TN, charter #9532. In addition, many state char- tered banks went into receivership in Arkansas, Tennessee, Kentucky, and North Carolina. f- twaroN. D 036398A Series 1929 Type 1 $5 with the signa- ture of Edward Peacock as President. UNION PLANTERS NATIONAL BANK a TRUST COMPANY OF 41 . MEMPHIS 0) rErVIESSEE Yi WILL PAY TO THE BEARER ON DEMAND FIVE 11901.1LAIIS%ma 0036398A Under the hand of Mr. Peacock, Union Planters recovered from the mis- fortune of Rogers Caldwell. Thirty-six percent of the bank was now owned by The American National Bank of Nashville, charter #3032. The depression was particularly hard on the farming community around Memphis and reduced business at the bank to the levels of 1921. After 18 months of hard work and thoughtful leadership, Ed Peacock went home to Mississippi in January 1932. The bank was stronger and had survived its most difficult challenge. Gilmer Winston, who had been with the bank since 1901, was elected presi- dent. Mr. Winston was a thoughtful man and a man who believed in lending to his community. In December of 1932, he suffered a heart attack. On January 21, a run on the Bank of Commerce of Memphis occurred and without intervention from Union Planters, a city-wide run could have ensued. Union Planter loaned $500,000 to the Bank of Commerce and saved the Series 1929 Type 1 $100 with the sig- nature of Gilmer Winston as President. 1 334 9 4013211 IL 'I A. 11011MIVIEMELVIC1r IMPOSIITUVRTBITNTIMANCIMIZOF Th PMIMMTWIMIIMERIft E UNION PLANTERS NATIONAL BANK a TRUST COMPANY OF CA MEMPHIS C''') WI LL PAY TOE( ■114PLUER)Ii DEMAND reMATONTYINDIAMIS A013211 13)49 Val. Or 310e8 -000 • : 0 0 0 o_o o o 0 o 0 0 4, 0 0 .0 0 0.0 '00:0, •0 0 0, 0 - 0 -0 ,010 . 0 , CP0 0.0 0 Qt. 0-0 10 218 May/June 2005 • Whole No. 237 • PAPER MONEY institution and city from financial collapse. The Bank of Commerce would eventually be organized into the National Bank of Commerce of Memphis, charter #13681, the only issuer of $50 and $100 Type II notes in Tennessee. Gilmer Winston's health continued to deteriorate. On April 8, 1933, Vance Alexander became president. Having been a cashier at Cumberland Valley National Bank of Nashville (charter #9659) and vice-presi- dent and cashier at American National Bank of Nashville (charter #3032), he was a highly respected and professional banker. He would lead the Union Planters National Bank and Trust Company until his retirement in 1955. Series 1929 Type II $20 with the signature of Vance Alexander as President. So collectors of Union Planters notes have four presidential signatures to collect among small size notes. The signature of William White (Oct 7, 1929 - July 27, 1930) appears on early Type 1 notes. The signature of Edward P. Peacock (July 27, 1929 - January 14, 1932) appears on Type 1 notes. The sig- nature of Gilmer Winston (January 14, 1932 - April 8, 1933) appears on Type 1 notes, and most Uncirculated $100 notes bear his signature. The signature of Vance Alexander (April 8, 1933 - January 1955) appears on Type II notes. His signature also appears as cashier on series 1902 dateback and plainback notes from the Cumberland Valley National Bank of Nashville, charter #9659, and as cashier and vice-president on series 1902 plain back notes from the American National Bank of Nashville, charter #3032. Anyone wishing to add to this article please contact the author via e-mail at . Bibliography Longwith, John. Since Before the Yellow Fever - A History of Union Planters Bank. Union Planters Corporation (1994). McFerrin, John Berry. Caldwell and Company - A Southern Financial Empire. Vanderbilt University Press (1939 and 1984). When is a National Bank Note NOT National Currency? "Hey, look at me. This issue is devoted to NBNs. I state plainly 'First National Bank of Idaho,' Boise City, IT. My owner also records #211. My bank was organized March 11, 1867, the first national bank in Idaho (FNB of Idaho, Boise #1668). I must be interesting, and my owner would like to know more. Can readers help? Please send comments do the Editor, he'll pass them along. Thanks," -- A. Lincoln (nut) • 09:794b: - Ns • forts1-1 , ..N., t, <210a32051if w PAPER MONEY • May/June 2005• Whole No. 237 219 Lyn Knight Currency Auctions Deal With The Leading Auction Company in U.S. Currency If you are buying notes... You'll find a spectacular selection of rare and unusual currency offered for sale in each and every auction presented by Lyn Knight Currency Auctions. Our auctions are conducted throughout the year on a quarterly basis and each auction is supported by a beautiful "grand format" catalog, featuring lavish descriptions and high quality photography of the lots. Annual Catalog Subscription (4 catalogs) $50 Call today to order your subscription! 800-243-5211 If you are selling notes... Lyn Knight Currency Auctions has handled virtually every great United States currency rarity. We can sell all of your notes! Colonial Currency... Obsolete Currency... Fractional Currency... Encased Postage... Confederate Currency... United States Large and Small Size Currency... National Bank Notes... Error Notes... Military Payment Certificates (MPC)... as well as Canadian Bank Notes and scarce Foreign Bank Notes. We offer: • Great Commission Rates • Cash Advances • Expert Cataloging • Beautiful Catalogs Call or send your notes today! If your collection warrants, we will be happy to travel to your location and review your notes. 800-243-5211 Mail notes to: Lyn Knight Currency Auctions P.O. Box 7364, Overland Park, KS 66207-0364 We strongly recommend that you send your material via USPS Registered Mail insured for its Rill value. Prior to mailing material, please make a complete listing, including photocopies of the note(s), for your records. We will acknowledge receipt of your material upon its arrival. If you have a question about currency, call Lyn Knight. He looks forward to assisting you. CXni ht Currency Auctions P.O. Box 7364, Overland Park, KS 66207 • 800-243-5211 • 913-338-3779 • Fax 913-338-4754 Email: lyn@lynknight.eom • 220 May/June 2005 • Whole No. 237 • PAPER MONEY On This Date in Paper Money History -- May 2005 By Fred Reed May 1 1783 Discontobank of Trieste, Monarchie Belgium, issues public stock; 1867 First CSA note catalog by Dr. Thomas Addis Emmet published by American Journal of Numismatics; 1923 Henry M. Dawes begins tenure as Comptroller of the Currency; 1984 Gene Hessler's tenure as Editor of Paper Money begins; May 2 1740 Elias Boudinot, who appears on obsoletes, born; 1871 Leavenworth, KS City Council authorizes municipal scrip; 1921 Beginning of Mellon-White tenure; 2002 Bank of England launches new fivers, "most secure note we have ever produced"; May 3 1775 Rhode Island Colonial Currency (FR RI 175 - 185) bears this date; 1864 Congress launches investigation into BEP fraud; 1981 First delivery of Series 1981 $20 FRN; May 4 1865 At Washington, GA Jefferson Davis appoints Robert H. Clarke acting Treasurer of the CSA; 1900 Counterfeiting in Colonial America author Kenneth Scott born; 1908 BEP Director Thomas J. Sullivan dies; May 5 1818 Encased stamp issuer, proprietary medicine vender James Cook Ayer born; 1897 New York Congressman and "inventor of greenbacks" Elbridge Gerry Spaulding dies; 1965 SPMC member Doug Hoffman born; 1966 Collector Josiah Lilly dies; May 6 1776 Virginia Colonial Currency (FR VA88-101) bears this date; 1950 Jack Ogilvie becomes ANA Historian; 1953 First delivery of Series 1953 $5 USN ; 1971 Stack's sale of Massachusetts Historical Society Numismatic Collection begins; May 7 1833 Currency subject Abraham Lincoln appointed Postmaster of Salem, IL; 1918 BEP Chief Engraver G.F.C. Smillie completes George Washington portrait vignette (FR 708- 746); 2001 U.S. Treasury launches "Money Math Curriculum" for middle school use; May 8 1884 CSA Secretary of State Judah P. Benjamin, who appears on several Confederate $2 notes, dies; 1944 Last delivery of Series 1934A $10 SC for North Africa; 1969 Beginning of Kennedy-Elston combined tenure as Treasury Secretary and Treasurer; May 9 1776 Continental Currency (FR CC31-38) bears this date; 1780 Treasury Secretary William Duane born; 1867 J.N.T. Levick becomes ANS Treasurer; 1979 Detroit Fed Bank official predicts failure for small dollar coin unless paper dollar withdrawn; May 10 1823 Treasury Secretary John Sherman (FR 664-685a) born; 1827 Treasury Secretary William Windom (FR 245-246) born; 1837 NYC banks suspend specie payments, fol- lowed generally by others, Depression begins; 1838 New York banks resume specie payments; 2001 R.M. Smythe sells collection of songwriter Anna Sosenko; May 11 1849 U.S. Treasurer John N. Huston born; 1861 NYSE prohibits trading Confederate securities; 1889 Beginning of Rosecrans-Huston tenure; 1931 Austrian Kreclit-Anstalt collapses beginning central European financial crisis; 1979 Women's World Bank founded in the Netherlands; May 12 1755 NY Colonial Currency (FR NY130-133); 1862 CSA $10 notes with Memminger/ Hunter by Keatinge & Ball released; 1980 Texas billionaire Bunker Hunt tells Congress "People who know how much they're worth aren't usually worth that much"; May 13 1830 NC Gov Zebulon Vance, who appears on state notes, born; 1908 ANS Audobon Terrace HQs opens; 1960 Bank Merger Act requires Fed regulate bank mergers; May 14 1840 New York legislature amends state's Free Banking Act; 1874 Overprinted black charter numbers appear on $1 and 52 NBNs; 1917 Money Madness copyrighted by Universal Film Manufacturing Co.; 2004 Royal Bank of Scotland issues 5-pound note for 175th anniversary of Royal and Ancient Golf Club of St. Andrews; May 15 1779 NC Colonial Currency (FR NC183-189); 1894 Pancho Villa's paymaster & cur- rency printer, Dr. Alberto Francisco Pradeau born; 1964 SPMC incorporated by Tom Bain, Glenn Smedley and George Wait in Washington, D.C.; May 16 1812 U.S. Congress charters Mechanics Bank of Alexandria, D.C.; 1831 Treasury Secretary Daniel Manning (FR 313-316) born; 1861 CSA Congress authorizes currency in denominations of $5 and up; 1955 Central States Numismatic Society incorporated; May 17 1861 Paper money subject President U.S. Grant re-commissioned; 1978 Treasury turns over 800+ pieces of uncurrent currency to Smithsonian Institution; May 18 1906 Longtime SPMC member Robert H. Lloyd born; 1983 Luc Bresson film L'Argent ("Money") tracks circulation of bogus 500-franc note; May 19 1898 British Chancellor of the Exchequer W.H. Gladstone dies; 1933 Eugene R. Black begins tenure as Federal Reserve Board Chairman; 20021.5.G. Boggs' "Making Money" exhibit debuts at Berlin, Germany gallery; May 20 1663 William Bradford, printer of NY & NJ Colonials, born; 1768 Dolley Madison, who appears on obsolete notes, born; 1863 U.S. Mint experiments with aluminum for Postage Currency patterns; 1914 Some San Francisco FRBNs bear this printed date; May 21 1817 Paper money artist Edwin White (Landing of the Pilgrims, FR 1781 - 1809a) born; 1922 Mack Sennett's For Love or Money (a.k.a. Crossroads of New York) opens; May 22 1777 Rhode Island Colonial Currency (FR RI 264-265);1802 Martha Washington (FR 215-221 and FR 224-225) dies; 1863 Charles F. Hanckel of Pocataligo, SC appointed chief clerk of CSA Treasury Note Division at Columbia, SC; 1979 Boys Town PhilaMatic Center makes collection available to SPMC Wismer researchers; May 23 1941 First New England Numismatic Conference held; 1958 Rochester, NY Numismatic Association holds 1000th meeting; May 24 1824 Register of Treasury Lucius Chittenden born; 1865 Supreme Court of Pennsylvania decides in favor of legal tender notes; 1990 George Edward Durell Foundation stages Money and Banking: the American Experience conference; May 25 1775 Massachusetts Colonial Currency (FR MA140-148) bears this date; 1954 Series 521 MPCs issued; May 26 1714 Massachusetts Colonial Currency (FR MA64-65) bears this date; 1829 John Campbell takes office as U.S. Treasurer; 1994 NASCA chairman, banker and politician George W. Ball dies; May 27 1802 Boston Numismatic Society founding member George Williams Pratt born; 1977 NASCA sale of Maryland Historical Society paper money collections begins; 2002 Bank of England suspends production of new fivers after serial numbers rub off; May 28 1784 Continental Congress establishes Board of Treasury with three commissioners; 1895 Treasury Secretary Walter Gresham dies; 1928 Dallas, TX Coin Club organized; May 29 1736 Virginia Governor Patrick Henry, who appears on obsoletes, born; 1828 First CSA currency cataloger Thomas Addis Emmet born; 1837 Gettysburg, PA issues half bit ( 61/4 cents) interest-bearing notes, 1949 End of Snyder-Julian combined tenure; May 30 1863 First National Bank chartered in Vermont (FNB Springfield #122); 1908 Congress authorizes desposits other than U.S. bonds to secure NBN circulation; 1908 National Monetary Commission established, leading to formation of Federal Reserve System; May 31 1709 NY Colonial Currency (FR NY1-5); 1781 Congress declares Continental Currency no longer legal tender; 1928 Beginning of Woods-Tate combined tenure; 1949 Obsolete banknote cataloger David Cassel Wismer dies; ROBERT j. KRAVITZ A COLLECTOR'S GUIDE POSTAGE 0E7' FRACTIONAL CURRENCY PAPER MONEY • May/June 2005• Whole No. 237 221 All Choice to Gem CU Fractional Currency Paying Over Bid Please Call: 916-687-7219 ROB'S COINS & CURRENCY P.O. Box 303 Wilton, CA 95693 BuSellingyin & • First new book on Fractional Currency in 25 years. • All the regular issue notes in all 8 grades with the rarity of all the notes. • Four pages in color. • Helpful hints and what to look for. • PCDA Literary Award Winning Book $29.99 & $3.00 S&H L Zero in on your target market Stake your claim to this valuable advertising space all month long Special Rates Apply; Contact the Editor 222 May/June 2005 • Whole No. 237 • PAPER MONEY On This Date in Paper Money History -- June 2005 By Fred Reed June 1 1641 Massachusetts General Court resets legal tender value of wampum six to a penny; 1685 M. Jacques de Meulles pays French- Canadian troops IOUs printed on playing cards, declares their use mandatory; 1978 SPMC holds 1st board meeting at Memphis; Wendell Wolka suggests annual membership recruiting contest be held; June 2 1740 Maryland Colonials (FR MD8-14); 1863 Richmond Examiner reports circulation of CSA 50(f notes; 1935 SPMC member George Springer born; 1978 BEP issues its first Memphis International Paper Money Show souvenir card; June 3 1861 Stephen Douglas, who appears on Illinois notes, dies; 1864 Congress limits NBN circulation to $300 million; 1946 Initial date on Hungarian B-Pengo notes; June 4 1818 An Attempt to prevent Forgery of Bank Notes" patented by Peter Maverick; 1969 Production of 1963B $1 FRNs with signature of Joseph W. Barr ceases; 2001 'Show Me the Money" exhibition opens at University of Maryland Health Sciences Library; June 5 1805 Arkansas Governor Samuel Adams, who appears on notes, born; 1861 Bank convention at Atlanta, GA recommends all southern banks, railroads, tax collectors receive Confederate notes as currency; 1995 SPMC member T. Homer Brooks dies; June 6 1891 Currency collector and benefactor Byron Reed dies; 1934 Securities Act of 1934 establishes the Securities and Exchange Commission; 1978 U.S. Rep. Martha Keys introduces resolution calling for Georgia Neese Clarke Gray dollar; June 7 1837 Trenton, NJ issues scrip for change; 1854 Banknote and medal engraver C.C. Wright dies; 1877 Paper money artist Edwin White (Landing of the Pilgrims, FR 1781- 1809) dies; 1989 Ground breaking ceremony for BEP western currency plant in Texas; June 8 1757 Virginia Colonial Currency (FR VA5-9) bears this date; 1872 Congress authorizes $5,000 and $10,000 Currency Certificates of Deposit; 1965 First delivery of Series 1963A $20 FRN; June 9 1732 Colonizer James Edward Oglethorpe, who appears on obsolete notes, secures Royal charter; 1784 Alexander Hamilton organizes Bank of New York; 1950 Hobbies magazine publisher Otto C. Lightner dies; June 10 1766 Ohio Gov. Edward Tiffin, who appears on obsoletes, born; 1857 Crown assents to Canadian decimalization act, requiring accounts be kept in dollars/cents on Jan. 1st next; 1864 Many Compound Interest Bearing Treasury Notes bear this overprint date; 2002 SPMC Board unanimously names recruiting award after Nathan Goldstein; June 11 1863 FNB of Philadelphia (charter #1) organized; 2004 Bank of Canada Currency Museum hosts "African Currency" exhibition; June 12 1867 Mint engraver Longracre submits aluminum five cent pattern to Treasury Secretary McCulloch as means to retire fractional currency; 1945 Public tours, sus- pended as to wartime measure, resume at BEP; 1978 SPMC Wismer Chairman Wendell Wolka publishes catalog standards for future reference books; June 13 1863 Charleston Courier reports circulation of CSA 50-cent notes; 1929 First delivery of Series 1928 $20 FRN; June 14 1874 City of Lincoln, NE circulates scrip with image of A. Lincoln; 1961 Last delivery of Series 19508 $5 FRN; 1979 Divided SPMC Board approves destruction of a portion of Wismer hook inventory; 2003 SPMC Board names Fred Reed SPMC Publisher; June 15 1799 Massachusetts charters Portland Bank, the first bank in Maine (n.b. Maine was part of Massachusetts); 1919 Famous Players-Lasky comedy film Men, Women, and Money released; 1943 B. Max Mehl sells part of Albert A. Grinnell's collection; June 16 1812 NY state charters City Bank of New York; 1848 Piqua, OH ordinance orders redemption of municipal scrip; 1908 ANA founder and publisher George Francis Heath dies; 1984 SPMC stages annual banquet at Rendezvous restaurant in Memphis; June 17 1837 Cleveland Plain Dealer publishes editorial The Fallacy of Paper Money"; 1964 Harry Solmson Confederate note collection displayed at Little Rock's Old Arkansas State Capitol building; 2005 29th annual Memphis International Paper Money Show opens; R.M. Smythe offers Herb and Martha Schingoethe Collection, part 3; June 18 1720 SC Colonials (FR SC22); 1862 Cherokee Nation issues currency payable in CSA dollars at Tahlequah, IT; 1864 Confederate note facsimilist S.C. Upham advertises his asthma cure in Harper's Weekly; 1965 IBNS incorporated in Oregon; June 19 1776 Connecticut Colonials (FR CT205-213); 1893 End of Rosecrans-Morgan com- bined tenure; 1987 SPMC Board approves design for metal membership cards for LMs; 1993 SPMC Board approves printing a membership directory; June 20 1782 Bald eagle designated as national emblem; 1824 Bank of the State of Tennessee circulates small change notes; 1863 First National Bank chartered in Connecticut (FNB New Haven #2); 1874 Congress makes first appropriation specifically for BEP; June 21 1759 Treasury Secretary Alexander J. Dallas born; 1974 Beginning of Simon-Neff combined tenure as Treasury Secretary and Treasurer; 1978 Coin World announces Fred L. Reed Ill as News Editor; 1986 SPMC Board considers reducing Paper Money to quarterly and circulating a news letter interim; June 22 1756 NJ Colonials (FR NJ92-100) bear this date; 1861 Harper's Weekly lampoons CSA "Owe Ever, Pay Never" finance; 1924 Register of Treasury Judson Lyons dies; 2002 World's largest wooden nickel (13' 4" diameter) unveiled in San Antonio, TX; June 23 1836 Congress requires Treasury Secretary to designate depository in each state/territo- ry; 1862 Lincoln vetoes Act repealing prohibition on small denomination notes in Washington, D.C.; 1967 Disney film The Happiest Millionaire stars Fred MacMurray; June 24 1807 Bank of the Manhattan Company founderNice President Aaron Burr indicted for treason; 1861 Last CSA Montgomery $1000 notes issued; 1908 Grover Cleveland (FR 822-830) dies; 1989 SPMC Nathan Gold Award presented to Chet Krause; June 25 1745 U.S. Treasurer Thomas T. Tucker born; 1876 Louisiana Governor Thomas 0. Moore, who appears on notes of his state, dies; 1884 George H. Blake holds numis- matic auction; 2003 Fed cuts short-term interest to 1%, lowest since 1958; June 26 1836 U.S. Treasurer Enos H. Nebeker born; 1978 NASCA sells T. James Clarke paper money collection; 1988 Opening of Aubrey and Adeline Bebee $2 million paper money exhibit at ANA; 2002 Money Buys Happiness debuts in New York City; June 27 1948 Bowery Boys' comedy Jinx Money premieres; 2004 ANA unveils American Bank Note Co. museum donations depicting currency plate manufacture; June 28 1776 Continental Congress OKs signers for small change notes, but no action taken to appoint them; 1836 Treasury Secretary Lyman Gage born; 1861 NC authorizes $200,000 small change notes, 5- to 50-cents; 1971 1 sr delivery Series 1969A $5 FRN; June 29 1863 FNB Davenport, IA is first NB to open for business; 1865 Houston, TX issues scrip 12 1/2-cents to $3 payable in U.S. currency; 1955 Congressman Lyndon Baines Johnson introduces bill providing all U.S. currency bear motto IGWT; June 30 1812 Congress sets rate at $1.25/100 TNs signed by Loan Office appointees; 1812 Murray, Draper, Fairman receive contract for U.S. treasury notes; 1864 Comptroller reports $650 million in greenbacks circulating; 1917 Money and Mystery debuts; 1987 Canada releases gold colored "Loonie" dollar coin to replace $1 note; CHECK THE "GREENSHEET" GET 10 OFFERS THEN CALL ME (OR WRITE) FOR MY TOP BUYING PRICES The Kagin name appears more often than any other in the pedigrees of the rarest and scarcest notes (U.S. Paper Money Records by Gengerke) BUY ALL U.S. CURRENCY Good to Gem Unc. I know rarity (have handled over 95% of U.S. in Friedberg) and condition (pay over "ask" for some) and am prepared to "reach" for it. Premium Prices Paid For Nationals (Pay 2-3 times "book" prices for some) BUY EVERYTHING: Uncut Sheets, Errors, Stars, Special Numbers, etc. Pay Cash (no waiting) - No Deal Too Large I can't sell what I don't have A.M. ("Art") KAGIN 505 Fifth Avenue, Suite 1001 Des Moines, Iowa 50309-2316 (515) 243-7363 Fax: (515) 288-8681 At 85 It's Still Fun - Currency & Coin Dealer Over 60 Years I attend about 15 Currency-Coin Shows per year Visit Most States (Call, Fax or Write for Appointment) Collector Since 1928 Professional Since 1933 Founding Member PNG, President 1963-64 ANA Life Member 103, Governor 1983-87 ANA 50-Year Gold Medal Recipient 1988 PAPER MONEY • May/June 2005• Whole No. 237 223 224 May/June 2005 • Whole No. 237 • PAPER MONEY Members to decide among five candidates for SPMC Board 0 NCE AGAIN WE HAVE A CONTESTED election for positions on the Society of Paper Money Collectors Board. Five candidates have qualified for four vacancies. These candidates are (in random order) Tom Minerley, Bob Cochran and Gene Hessler amongst the incumbents; and two newcomers, Jamie Yakes and Wesley Duran. As is our custom, each candidate was encouraged to sup- ply a photograph and brief biography to assist members in casting their ballots. Ballots will be found inserted into this issue of Paper Money. Please mark your ballot for NO MORE THAN FOUR candidates and return them as soon as possible to Society President Ron Horstman, 5010 Timber Ln., Gerald, MO 63037. Winners will be announced at the general membership meeting to be held at the Memphis paper money show in June. SPMC thanks all candidates for being willing to serve their Society, and all members for casting their ballots to choose individ- uals to fill these important offices. Tom Minerley Tom Minerley has been an SPMC member since 1987 and most recently has served as SPMC Secretary, 2001-2003. A frequent attendee at Memphis and St. Louis paper money shows, Tom's research into national currency has been recog- nized for its excellence by the PCDA, earning Torn that organization's Robert Friedberg Award. He is also a frequent contributor to Paper Money. Tom backs making more information available to collectors, esp. concerning national currency census data "so the average collector can make intelligent purchasing decisions." Tom has served on the SPMC Board since 2002, and headed our nominating committee for several years. Bob Cochran Bob Cochran joined SPMC in 1979. He was elected Secretary of the Society in 1986, a position he held until 1997. Bob then served one term as President, 1997-1999. Bob also functions as fulfillment chairman (he ships back issues of our journal to new members and welcomes them to the Society) and was recently appointed Chairman of the Wismer Project, which works on cataloging obsolete notes on a state-by-state basis. Bob is chair of the SPMC 6000(TM) project, whose goal is to increase Society membership and improve member ser- vices. Bob has served on the SPMC Board 1989-1991, 2002- present. He has also been Ad Manager and won five SPMC literary awards for his more than 100 articles. Jamie Yakes Jamie is SPMC Life Member #338. Born December 26, 1974, he is married and employed as a research chemist by Accutest Laboratories in Dayton, NJ. Yakes has been collecting since the age of 11 and belongs to the Ocean County Coin Club (NJ), Garden State Numismatic Association, American Numismatic Association. His other interests include weight training, cook- ing, sports, the weather, and reading. He specializes in United States $5 small- size currency by type and variety, and collects U.S. coins by type in Proof. Jamie received the title "Numismatic Scholar," as conferred by completion of the ANA School of Numismatics program in 2003, and had an article published in The Numismatist in May 2000. He has several pending articles which will appear in Paper Money. This is Jamie's second run for a seat on the SPMC Board. Wesley Duran Wesley Duran is a retired military (Air Force) officer who lives in Colorado. His varied military back- ground includes managing one of the largest accounting/finance operations in the Air Force and writing the AF manual used to pay all local national employees in the Republic of Vietnam. He is also an IRS enrolled agent (accredited to represent taxpayers in disputes with the IRS), adjunct college professor, and serves on other non-profit boards. "I have enjoyed an SPMC membership (#6251) for some years now, and admire the work of the organization. I don't collect paper money per se, but have one of the best collections of souvenir cards in the country in which I take enormous pride and plea- sure. I am charter member #123 of the Souvenir Card Collectors Society, and am a keen aficionado of intaglio steel engravings." This is Wesley's first run for the SPMC Board. Gene Hessler Gene has been a member of the SPMC since 1967, served as editor of Paper Money for 14 years, and been a SPMC board member since the late 1980s. He speaks frequently about the history of engraving, paper money and the advantages of collecting to school, library and civic groups. He also believes that exhibits help to create interest in our hobby, and has exhibit- ed at the Memphis paper money show for 25 years. Gene has authored more than 350 magazine articles, including many for our journal, regular columns for Coin World and the Numismatist, and four books with a fifth to be published in 2005. For research devoted to this fifth book he received the SPMC George Wait Memorial Award in 2003. If re-elected, Gene wants to continue to represent the average collector. There you have it, five diverse candidates presenting them- selves for service on your SPMC board. Now you do your part and vote for this important office. 7;r. , Fri 'macs Dols yelp NH CURRENCY STUDY PROJECT' NITION11. (l ft REN(T.W, . • .nda.du•to).744,40 twits", ney 117.111a0i11114 w=r03,BRutom4r .// The New Hampshire Currency Study Project by Q. David Bowers and David M. Sundman Introduction SAMPLE. CI IAPTER:Lancaster. NIL About the Authors Title Page Table of Contents C its andAcknowledgements A list of NI CUrrelleY Issuing Banks t' 1 {5 Arttt.feineF.,At irt tje DitgtelLy Contact Info 2002-2005 Q. Ono d Bower, ,nd UM IASundman PAPER MONEY • May/June 2005• Whole No. 237 225 SPMC members Bowers/Sundman launch note study S OCIETY MEMBERS/DEALERS Q. DAVID BOWERS of Wolfeboro, NH and David M. Sundman of Littleton, NH announce a website detailing their long-term New Hampshire Currency Study Project is now available at . "To present the scope of the proposed book, New Hampshire Provincial, State and National Currency, we have pub- lished a sample chapter on this website," Bowers reported. The chapter selected features the currency and financial histo- ry of Lancaster, NH, a town located in northern New Hampshire and famous to numismatists and note collectors for the "Santa Claus Note" shown on the site's home page. "This note was issued by the White Mountain Bank of Lancaster," a spokesman explained. The chapter sample con- cludes with the history and notes of the Lancaster National Bank. Additional chapters will be added from time to time. This project is being undertaken in coordination with the Society of Paper Money Collectors (SPMC), with help from many muse- ums and other entities, including the Smithsonian Institution, the New Hampshire Historical Society, and more, the spokesman related. This expansive project is a work in progress, and help and contributions of information and suggestions are requested. Although the work is quite advanced, Bowers and Sundman are still seeking information regarding rare New Hampshire currency 1700-1935. All information that is used will be acknowledged in the published book. Readers possessing new information or resources that would assist in this important work can contact email: or Q. David Bowers David Sundman P.O. Box 539 1309 Mt. Eustis Road Wolfeboro Falls, NH 03896 Littleton, NH 03561 + INSURANCE For The PaperMoney Collector Your homeowners insurance is rarely enough to cover your collectibles. We have provided economical, dependable collectibles insurance since 1966. • Sample collector rates: $3,000 for $14, $10,000 for $38, $25,000 for $95, $50,000 for $190, $100,000 for $278, $200,000 for $418. Above $200,000, rate is $1.40 per $1,000. •Our insurance carrier is AM Best's rated A+ (Superior). •We insure paper money, paper ephemeris, manuscripts, books, autographs and scores of other collectibles. "One-stop" service for practically everything you collect. •Replacement value. We use expert/professional help valuing collectible losses. Consumer friendly service: Our office handles your loss—you won't deal with a big insurer who doesn't know collectibles. •Detailed inventory and/or professional appraisal not required. Collectors list items over $5,000, dealers no listing required. • See our website (or call, fax, e-mail us) for 11111 information, including standard exclusions. Collectibles Insurance Agency P.O. Box 1200-PM • Westminster MD 21158 E-Mail: info VISA' Most out Call Toll Free:1-888-837-9537 • Fax: (410) 876-9233 More Info? Need A Rate Quote? Visit: See the online application and rate quote forms on our website (04; rEin 3PrER IT ; --; Interest Bearinv Notes / POST C 5 :rff')ti. s— sls1P,F We invite you to attend the "Open House" given by us in our new Banking Home Saturday, March 27th all day from 9 A. M. to 9 P. M., also to inspect our new vaults and witness demonstration of the new Electrical Burglar A- larm System just installed. Come visit us, even though it is just for a friendly talk, and to meet Your friends here. We'll be glad to see you. FIRST NATIONAL BANK, FREEBURG, ILLINOIS . tzt7s —,, May/June 2005 • Whole No. 237 • PAPER MONEY226 By Dave Bowers Reflections on Two Postcards FOR ME IT IS OFTEN FUN TO COLLECT "GO-withs" in addition to coins, paper money, tokens, and other items. In some hobbies—bottle collecting is an example—"go withs" are an important part of the buying and selling scene. Similarly, those interested in old motion pictures often aspire to own old posters, lobby cards, movie star memorabilia, and the like. In numismatics this course is not often followed, although many opportunities beckon. In the field of National Bank notes, nearly every such bank in existencepromoted itself in one way or another—by giving out calend-ars, checks, stock certificates, pens, money bags, postcards, and more. I especially enjoy old postcards depicting National Banks during the currency-issuing period and have accumulated more than 3,000 different. However, picture postcards did not come into wide use until the early 20th century, and thus the 1863-1900 era is not represented. The other day I was sorting through some cards and came across two from Freeburg, Illinois, a little town of which I do not know much. However, the internet beckons, and I know that with a few key words entered into Google I can probably find where the best Mexican restau- rant in the area is now located (if they have one), or how the high school chess club (if they have one) has done in competition, and so on. I don't own any currency from the First National Bank of Freeburg, but thanks to the works of Messrs. Hickman, Oakes, and Kelly, from my armchair, and no need to consult Google, I have learned that this particular institution was chartered in October 1905 as No. 7941, in time to issue a bunch of large-size bills and some (but not many) small-size versions, to the total amount of $269,800—most of which have disappeared in the years since they were used. No doubt an attractive Freeburg National Bank bill would be a nice thing to own, and if I see one at a convention I might ask its price. Now, if this were an obsolete note, say from the era of the early 19th century, I could go to my library and, given some time, extract information from various issues of Banker's Magazine, Niles' Weekly Register, Hunt's Merchants Magazine, and varioustown and county histories. However, my holdings of such stuff drop off sharply around 1900, and I have nothing on Freeburg banking. That said, all I know is from my two postcards. The first is postmarked 1912 and shows the First National Bank situated on the ground floor of the Harthel Building, a two-story brick edifice heated, it would seem, by a half-dozen fireplaces. On the wall of the building, "BANK" is boldly lettered. This would suggest that no other name is needed, and that at the time this was the one and only bank in the town. A check with the aforementioned paper money books verifies this. Two signs at the back of the building indicate a door leading to offices upstairs, one for a doctor. The second card, of which both sides are shown here, invites the recipient to visit "our new Banking Home" and inspect the new vaults and the proudly capitalized Electrical Burglar Alarm System just installed. The building is shown with traces of snow out front, apparently taken not long before the March 24, 1920, postmark. A comparison of both post- cards seems to indicate that the "new" home is a makeover or rehabilitation of the old, including extensive widening of the front. As to other information about the bank I know nothing, except that if I owned a piece of paper money from the First National Bank, these "go with" postcards would certainly add to my interest and appreciation. Perhaps the peripatetic Mark Hotz, who last year traveled through Illinois and visited some old bank buildings, might on his next excursion check out Freeburg. New Hampshire Bank Notes Wanted 11—:_r2qM111:6 OR OTHER SI C I'R S , T- 1"; fe/I? bNaliticinliartallSaixallit .i. 1 P e 20,XX ,20 .',";11'20 MEMO 4: IlbV744.7:;;«- .?.I4r,.. MP A l'i,ET! zaaur::.1.‘ , .ad'ic0'2ilo:sx:Aliff1 1 !■1:7171,0:, , ,-,--rg ' . " ,..4013100.101 I would certainly enjoy having a Gorham (NH) National Bank $20 Series of 1882 bill in my collection. This particular one is a proof from the Smithsonian Institution. In fact, I'd enjoy buying any bill, any series, from this bank! If you have New Hampshire bills for sale—obsoletes or nationals, think of me! Thanks! In connection with collecting old bills of New Hampshire I have faced a great challenge. While currency of most other states ranges from scarce to plentiful, New Hampshire notes seem to be particularly elusive. By now I have most of the readily obtainable vari- eties of obsolete currency from the 1790s to 1865, and national bank bills from the 1860s through 1935. However, there are many hundreds of basic denominations and designs that I do not have and am eager to buy. In fact there are a number of banks for which I do not have a single note! For others, I have Series of 1902 and Series of 1929 notes, but little or nothing in the way of Original Series, Series of 1875, or Series of 1882 bills. If you are a dealer, sell me something! Most dealers have, and for a long time. In the 1950s I used to buy from Richard Hoober, a fine fellow, and Grover Criswell joined me as one of the early members of the Rittenhouse Society. Since then the dealer panora- ma has changed, but I am as active as ever, of course at a new level of market prices. If you are a collector and have some interesting New Hampshire or New England obsolete currency, or national bank notes pertaining to New Hampshire (the only state in which I am interested for national currency), I invite you to tap my checkbook! Beyond that, with co-author David M. Sundman and in cooperation with a special scrip note project by Kevin Lafond, Dave Sundman and I are busy with historical research. We are anticipating the production of a book-length study on the subject, containing all you wanted to know about New Hampshire currency, plus a lot of things you never thought about—including illustrations with people, buildings, bank archives, and more. If you have information of this type to share, please let me know. Dave Bowers Box 539 Wolfeboro Falls, NH 03896 e-mail: PAPER MONEY • May/June 2005• Whole No. 237 227 One of four images that will appear on t he cover. This test piece with a portrait of Albert Einstein that was crea ted for De La Rue Giori was designed by Professor Roman Hellmann 228 May/June 2005 • Whole No. 237 • PAPER MONEY Hessler's long-awaited encyclopedia of world engravers due for Memphis debut IMMINENT PUBLICATION OF THE INTERNATIONALEngraver's Line by Gene Hessler has been announced in time for the Memphis Paper Money Show next month. According to its author, the book will be a limited edition of 500 copies, "with most of the 700 illustrations in color" and a free engraving for the asking. The International Engraver's Line is another feast for the eyes from this author. This 392-page compilation of the lives and work of world security engravers from the 1700s to the issuance of the Euro documents the era of hand engraving that is coming to an end. Computer programs are replacing these artists. Hessler has spent more than 15 years on this important work. He has been in touch with engravers from all over the world in an attempt to attribute their bank note work. "Some [of these] elder- ly engravers have since passed on since they related personal infor- mation about them- selves, their colleagues and predecessors," Hessler revealed. Such historical information cannot be found anywhere else, and Hessler's work will be the definitive book on this subject. Bank note artistry traces to the work of German artist Albrecht Durer, who established line engraving as a genre in the 16th century. Later, this art form was adopted and per- fected for bank notes, securities and postage stamps. The pages of Hessler's fascinating and colorful book are devoted to the lives and the work of the men and women throughout the world (except those in the United States), who have engraved and designed images on paper money. Security artists who worked in America have already been documented in a previous work by the same author, The Engraver's Line (BNR Press, 1993). In addition you will find engravers of postage stamps. "Many of these miniature works of art, both bank notes (listed by Pick numbers) and postage stamps (isted by Scott numbers) have become treasures in the hands of collectors," Hessler said. Many of the artists who are documented here, especially engravers of bank notes, have received no other recognition- anywhere. Their employers often forbade them to discuss Lawrence Keen said that accepting a position with a security company was like entering a monastery and surrendering one's identity "as the iron door clanged behind you." Author Hessler has penetrated those doors and now reveals what he uncovered. In addition to issued bank notes he presents colorful essais, or unissued bank notes, for Brazil, Czechoslovakia, France, Ghana, Mauritania, the Netherlands, and other countries. In addition to the regular edition of The International Engraver's Line, but included in the 500 printed, there will be a premium edition of 100 copies that is accompanied by eleven engraved works, ten of them signed by individual engravers. A deluxe edition of 20 copies will be accompanied by a total of 15 engraved works, all but one signed by indi- vidual engravers. "One engraver incor- rectly signed the wrong notes that are included in all but number 100 of the pre- mium edition. The first pur- chaser to identify this mis- take and notify the author will receive $50. With their permission, the observant recipient's name will be published in the numismatic press," Hessler said. Prices have not been announced. For further information contact the author at . Gene Hessler, past Editor of Paper Money is the author of four additional books: The Engravers Line; the Comprehensive Catalog of U.S. Paper Money; U.S. Essay, Proof and Specimen Notes; and An Illustrated History of U.S. Loans, 1775-1898. Each has received literary awards. Additionally, Gene has written more than 350 articles including columns for Coin World and the Numismatist. He served as curator for The Chase Manhattan Bank Money Museum and the St. Louis Mercantile Money Museum. In addition to lecturing at the Smithsonian Institution, the American Numismatic Society, the American Numismatic Association and elsewhere, Hessler has acted as a consultant to museums including those of U.S. Federal Reserve Banks and the Banknote and Postage Stamp Museum in Japan. Hessler, a retired musician has traveled the world and has performed with many of the most famous names in jazz and classical music. He is listed in various editions of Who's Who in the Midwest, United States and the World, and has appeared on national television including two appearances on the NBC their work in the "outside" world. British engraver Joseph Today show. F MIN MN MEM MOM MEM MEM MEM EMI MEM MEM — OM MEM MEM MEM — MEM - - I Articles on small size U.S. currency wantedPlease contact the Editor at I. w. N.. J PAPER MONEY • May/June 2005• Whole No. 237 We are proud to continue the numismatic legacy begun in 1933 Specializing in Quality and Rare U.S. Currency U.S. Large Size Fractionals U.S. Small Size Nationals National Gold Bank Notes Kagin's -- an established name for conservative grading of quality notes. We specialize in building U.S. currency collections of premium quality and rare notes. Favorable terms to suit your individual needs. 98 Main Street #201 Tiburon, CA 94920 1-888-8KAGINS Call Judy BUYING AND SELLING PAPER MONEY U.S., All types Thousands of Nationals, Large and Small, Silver Certificates, U.S. Notes, Gold Certificates, Treasury Notes, Federal Reserve Notes, Fractional, Continental, Colonial, Obsoletes, Depression Scrip, Checks, Stocks, etc. 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 47996 SPMC #2907 (765) 583-2748 ANA LM #1503 Fax: (765) 583-4584 e-mail: website: DO YOU COLLECT FISCAL PAPER? The American Society of Check Collectors publishes a quarterly journal for members. Visit our website at or write to Coleman Leifer, POB 577, Garrett Park, MD 20896. Dues are $10 per year for US residents, $12 for Canadian and Mexican residents, and $18 for those in foreign locations. Buying Carl Bom b a ra Selling -41: .. United States Currency P.O. Box 524 New York, N.Y. 10116-0524 101044 Phone 212 989-9108 Pleilkilvkikikikayikik.ikikelikellikelikeiviiki e ' 41 Ray Marrello's Wir/hatey LLC VISIT OUR WEBSITE: Color Scans - Complete Descriptions - Conservative Grading - Large Selection Uncirculated & Rare Currency - Weekly Update NOW ACCEPTING CONSIGNMENTS!! Premium eBay Auctions - Call for details & Submission Form SEE OUR eBAY AUCTIONS: eBay ID: notablel 100% Customer Satisfaction Feedback Rating BUYING U.S. CURRENCY: Large Size Currency National Banknotes Gold Certificates Silver Certificates Legal Tender Notes Federal Reserve Notes liawaii Notes North Africa Notes Special &. Low-Serial ii Notes Star Notes ......______....._ Antique Currency, LLC Webshe: RO. Box 807 eBay User ED: notablel Mundelein. IL 60060 Emil: rmeorrency4nol.cont Ph.-Fax: 847-566-2620 Cell phone: 847-722-2740 _ ____ CALL US or VISIT OUR WERSITE: rincurrencycom torAio747•707-ATATOTATOTOT*TAIIITATADTATAITATA7ATAIgid 229 May/June 2005 • Whole No. 237 • PAPER MONEY230 FIB OF Intercourse, PA VOTES FROM THE FIRST NATIONAL BANK OF Intercourse are very popular in the National Bank Note collecting fraternity due to its name. The bank was chartered in August, 1908, with a capital of $35,000. It was assigned charter #9216. It issued $5, $10 and $20 Third Charter Date Backs and Plain Backs. It also issued $5, $10 and $20 Series of 1929 Type One and Type Two notes. The total amount issued was $667,850. The amount out- standing in July, 1935, was $35,000 with $1,770 being of large size notes. Whenever one of these notes comes available it commands a strong price. NATIONAL CLICIIIINUT SECURED 65 MHO 511115 SDKS OEPOSIFFO hITPTHEIREASPEO OF or ••• THE FIRST 9216 NATIONAL BANK OF INTERCOURSE PENNSYLVANIA WILL PAY TO THE BEARER ON DEMAND FIVE DOLLARS AO 1639 9216 3FIEWJEI1111111111.711WILICAi COMPUWEXTS OF r11 T MATIONA BARK: ' Intercourse, Pa. settlement of eastern Lancaster County. This area is known as "The Garden Spot of America." Intercourse was founded in 1754 with the building of Cross Keys Tavern. The name is derived from the intersection of two impor- tant colonial roads, one being King's Highway, now known as Route 340. Shown is a complimentary coin purse from the bank. Perhaps this purse dates back to the National Bank Note era. Also, pictured is a postcard postally cancelled from 1966 that shows the classic First National Bank build- ing. Notice the Amish buggy heading east on Route 340. Besides notes, it is also fun to search out other collectibles on bank. The quaint village of Intercourse is in the center of the Pennsylvania Dutch BIBLIOGRAPHY Kelly, Don C., PH.D. National Bank Notes. A Guide With Prices. Third Edition. Oxford, OH: Paper Money Institute, Inc. (1997). PAPER MONEY • May/June 2005• Whole No. 237 231 SPMC Holds Event at St. Louis Paper Money Show S PMC WILL HOST AN "OLD TIMERS FORUM" IN St. Louis in conjunction with the November 17-19 National and World Paper Money Convention, Society President Ronald Horstman announced. The event will be held at the St. Louis Airport Hilton Hotel. "There have been many changes in the collecting field over the past several decades, Horstman noted. "Paper money collecting has moved from an obscure specialty to something very much in the mainstream of numismatics. Issues that were once almost scorned are now avidly sought after and as research has developed new information for the collecting fra- ternity, collecting patterns have shifted considerably. "The SPMC 'Old Timers Forum' will bring together a select group of well established collectors and dealers in the paper money field to reflect upon the changes they've seen since the beginning of their involvement. The forum will also Society authors invited to Second publishing forum Society authors, prospective authors, and other interested parties are invited to a second publishing forum, hosted by the SPMC Librarian Bob Schreiner and Paper Money. At press time, this forum is tentatively scheduled for Friday afternoon during the upcoming Memphis International Paper Money Show. Check when you arrive in Memphis for details. Last year's forum at the Memphis paper money show fea- tured a half dozen authors, keynoted by Wendell Wolka's pre- sentation on his then new Wismer catalog on Ohio, and was well attended. This forum is in addition to the educational presentation at the Society's annual membership meeting, Schreiner stressed. "We feel this is a wonderful time for publishing works of all kinds, by traditional as well as technologically advanced methods and we want our members to be aware of all the alternatives and their pluses and minuses," he added. Several SPMC authors have new books out this year, the SPMC librarian noted. "All SPMC members with new books are invited to appear, but time limits may have to be imposed depending on participation. Any author may sign books. "We expect at least three authors of new works to be on hand to talk about their very different books, share methods, experiences, anecdotes, meet members, answer questions and autograph copies of their books. Each has a very different book done in very different fashion." Already agreeing to appear are: • Pierre Fricke, whose book Collecting Confederate Paper Money is being published by R.M. Smythe, a leading hobby dealer as publisher. • Gene Hessler, whose book International Engraver's Line is being self-published. • Fred Reed, whose book Show Me the Money: The Standard Catalog of Motion Picture, Television, Stage and Advertising Prop Money is being published by McFarland Publications, a reference book publisher. "All three of these books are debuting at the show," Schreiner noted. Additional authors are invited to preregister as presenters (subject to time availability) by contacting Schreiner at POB 2331, Chapel Hill, NC 27515-2331, or email to . give attendees at the National and World Paper Money Convention an opportunity to meet and interact with the panel participants," he added. NWPMC Bourse Chairman Kevin Foley joined Horstman in making the announcement of the event. Foley said, "Our next show will mark the 20th anniversary year for the National and World Paper Money Convention. From the very beginnings of the show the Society of Paper Money Collectors has been instrumental in providing support for the educational aspects of our affair. This SPMC initiative con- firms the close and cordial relationship between the Professional Currency Dealers Association, which sponsors the NWPMC, and the Society of Paper Money Collectors. President Horstman and I will be cooperating in the months ahead to select the forum participants and will jointly announce the exact schedule and content of the forum when arrangements are complete. It should be quite an interesting and stimulating function and I'm really looking forward to attending it myself." Additional information about the National and World Paper Money Convention is available on the PCDA website, , which includes dealer information on how to apply for a booth in the bourse area as well as prelimi- nary show schedule information and other facts about the show. For further information contact Kevin Foley, (414) 421- 3484 or . Research Exchange: a ser- vice for SPMC members Any SPMC member doing research on a paper money topic is eligible for a FREE listing. Address your memo to the Editor. • New York Obsolete Bank Notes (1784-1865). Researcher requesting info for SPMC state catalog on banking details for NY obsolete notes. All information welcome. At the moment, I am interested in any notes from "The Woodstock and Saugerties General Manufacturing Co." at Saugerties. I am looking for infor- mation when the bank opened, for how long, who the President and Cashier were, year of issue of notes, capital at founding, etc. Will gladly reimburse cost and postage of material received. Contact or John Glynn, 41 St. Agnells Lane, Hemel Hempstead, Herts HP2 7ax, England • Macerated Money. Wanted any information that would help in publishing a book on items made between 1874-1940 out of chopped up U.S. currency. Who made the products, where sold, etc.? Any help appreciated. Contact Bertram M. Cohen, 169 Marborough St., Boston, MA 02116-1830 or • Delaware Obsolete Notes and Scrip. SPMC state catalog researcher seeks information on existing notes, including serial and plate numbers. Records of other Delaware material such as old lottery tickets, vignettes, Colonials and National Currency are also being kept for population statistics. Will gladly pay copying costs and postage for pictures of your Delaware material. Contacts confidential. Contact or Terry A. Bryan, 189 South Fairfield Drive. Dover, DE 19901-5756 • Abraham Lincoln Research. Author preparing book length study of Abraham Lincoln's image on federal currency, national currency, bank notes, scrip, checks, stocks, bonds and other financial instruments. Desire photocopies of vignettes or unusual uses of the Lincoln image on this material. Contact Fred Reed, P.O. Box 118162, Carrollton, TX 75011 or A Primer for Collectors BY GENE HESSLER Catalina Vasquez Villalpando May/June 2005 • Whole No. 237 • PAPER MONEY232 Women Signers of U.S. Federal Currency AWARENESS OF FEMALE SIGNATURES ONU.S. paper money began with the signature of Georgia Neese Clark on Series 1928F United States Notes. This lady held the office of U.S. Treasurer from mid-1949 until January 1953. Since that time it has been customary for a woman to hold this office. Since then an additional 12 ladies have been appointed as U.S. Treasurers. Before someone cor- rects me and states that there are 13 female signa- tures on our currency since Ms Clark, an explanation is necessary. During the term of Mrs. Dorothy Andrews Elston, she married Walter L. Kabis. Consequently, the same person continued as U.S. Treasurer, however on subsequent notes her engraved signature became Dorothy Andrews Kabis. This is the only time the signature of a United States Treasurer was changed while in office. Female U.S. Treasurers are: Georgia Neese Clark, Francine I. Neff, Ivy Baker Priest, Azie Taylor Morton, Elizabeth Rudel Smith, Angela M. Buchanan, Kathryn O'Hay Granahan, Katherine Davalos Ortega, Dorothy Andrews Elston, Catalina Vasquez Villalpando, Dorothy Andrews Kabis, Mary Ellen Withrow, Romana Acosta Banuelos, and Rosario Marin. You might be surprised to know that signatures of females, in a non-federal treasury capacity, appeared on our currency almost 50 years earlier. This came about because National Bank Notes required the signatures of the cashier and the president of the issuing bank. National Bank Notes were first issued in 1863. National Banks were granted 20-year charters and there were three charter periods. The second charter period began in 1882, and it was during this period and the fol- lowing years that female signatures appeared on National Bank Notes. Former SPMC President Frank Clark„ an avid col- lector of Texas National Bank Notes, has compiled a list of woman signers of Nationals. With Frank's permis- sion, I included his list in the most recent edition (1997) of the Comprehensive Catalog of U.S. Paper Money. There are 83 different names on this list; these ladies signed as cashier, assistant cashier, president and vice president, and there are 24 states and two territories represented. When the cashier or president was not available, the assistant cashier and vice president were called upon to sign the National Currency before they were issued. Nebraska can claim the signatures of eleven women on notes for nine different National Banks. Oklahoma, another western frontier state and territory, has six female signers. We read about tough responsible fron- tier woman, and National Currency with their signa- tures confirm this. Six states have only one signature of a female bank officer on its notes. Peter Huntoon and Karl S. Kabelac have written comprehensively about two female bank officers. In Paper Money, No. 142, Peter Huntoon covers the life of Mary McNelis Costello who served as president of the First National Bank of Tombstone, Arizona. Her daughter served as both cashier and vice president, which means that the signatures of mother and daughter, president and cashier, can be found on the notes of this bank, rare as they are. In the more recent Paper Money, No. 201, Mr. Kabelac informs read- ers about Kate Gleason, president of the First National Bank of East Rochester, New York. She gave the first $20 National Bank Note that she signed to Dr. Anna Howard Shaw, colleague of Susan B. Anthony and other suffragists. Karl has written on additional females who signed Nationals since. If you are looking for a collecting theme, consider notes with female signatures. Recent Federal Reserve notes that are unavailable at your bank can be purchased for moderate amounts, and there will be more female signatures on our paper money as subsequent U.S. trea- surers are appointed. (Copyright story reprinted by permission from Coin World, March 27, 2000) PAPER MONEY • May/June 2005• Whole No. 237 233 Letter to the Editor Dear Sir: There is a myth that says that counterfeit currency will always be with us. There exists a simple method to render ANY currency absolutely immune to being reproduced. The key is to print, on each bill, the unique serial number in a form which can be scanned. This can be done on new or used (!), bills. Clerks or others taking in currency would merely scan the bill and the serial number would be sent to a central government computer(s) for verification. SIMULTANEOUSLY, the geographic location of the scanning device, in the form of a GPS ( Global Positioning Satelite) code, would accompany the serial number. Duplication of serial numbers would result in the com- puter identifying the same bill seeming to appear in more than one location at the same time. To illustrate, here are GPS coordinates for locations thousands of miles apart: Howard Johnsons Hotel Westbury Long Island, New York N4046.866 W07333.512 Caesars Palace Las Vegas,Nevada N3606.9464 W11510.031 A simple comparison would establish that a serial number appearing at these two places, within a few hours of each other, would be implausible. Triggering of a flag for a bill could generate a message instructing the presentor to take the bill to a bank for verifica- tion. That is NOT something any counterfeiter would wel- come. Note also that money does not sit in the drawer of a cash register. It is paid-out to other customers who use it at other locations, where further scans will occur. It is also deposited in banks where it can also be scanned. The laws of probability reveal that the random movement of money would tend to reduce the possibility of two bills with identical numbers, being scanned at times and locations which would preclude detection. Attempts to use sequential serial numbers by counterfeit- ers would be ineffective since even a single pair of identical numbers would rapidly be noted. It would be expected that almost every person would want to be sure that the currency they receive is genuine. A very slight verification fee could supply the government with a large source of purely-voluntary revenue. In other words, a source of income without a tax. I have a Provisional Patent application for this process and would appreciate comments and questions. Best regards, Arne Smith 7599 Cummings Pt Tully, NY 13159 Coming to a mailbox near you SPMC's Third U.S. Obsolete Notes Special Issue With concentration on War of 1812 currency. One of the most widely collected areas for SPMC members is U.S. obsolete currency and this historic issue will be the DEFINITIVE treatment for these under-appreciated 1812-1815 notes Your ad is solicited to underwrite the cost of this unprecedented issue of our Journal r 234 May/June 2 005 • Whole No. 237 • PAPER MONEY The President's Column By Ron Horstman AST WEEK'S CHICAGO PAPER MONEY EXPO offered I something for everyone. A very diversified and well run auc- tion, a large and very active bourse and an array of educational forums to satisfy all collecting interests. Scott Winslow offered a well rounded auction menu and George LaBarre donated a large group of stock certificates which were given away to attendees Our Society's meeting welcomed guest speaker Kevin Foley, who informed us how to be either a successful or unsuccessful auc- tion consignor. Foley is the founder of Currency Auctions of America and has been involved with the auction business for 15 years. Peter Huntoon presented a very enlightening program on the history of the national banking system. Peter has done a great deal of research in the national archives with the aid of our educational grant program. He has also lectured to the employees of the Comptroller of the Currency office on the history of their own division. Martin Gengerke presented his U.S. Currency Census pro- gram, whereby auction results and price lists are recorded I was told that any notes graded by either PCGS or PMG will now be entered into the records. It seems that many of the notes now being graded and encapsulated by PMG are new to the census. Our next regional meeting will be held at the Central States show in St. Louis in May. Wendell Wolka will educate us on the fine points of historical research. We plan a full slate of activities in Memphis in June with our annual breakfast on Friday, followed by the Tom Bain raffle. An educational program and general membership meeting will be held on Saturday afternoon. We were saddened by the news during the CPMX show of Herb Schingoethe's death. Herb and Martha are together again.. Ron Tom Durkin, SPMC #6120 1942-2005 Tennessee paper money dealer Tom Durkin passed away on February 18. He is memorialized by SPMC Librarian Bob Schreiner: "Torn Durkin was one of those friendly dealers who readily shared information with his customers. You could sit at his table at times when buyers were sparse and talk about paper money endlessly. He specialized in U.S. obsolete notes, and although his stock was never the largest, it was always choice, and with lots of new material. I never failed to find something of interest at Tom's table. Even at big shows like Memphis, his table was among very few I visited early. You could tell that Tom was a collector at heart...this was never just a business. But Tom was a good businessman. This included online buying and selling. I remember a few years ago that someone was offering a note on eBay that I really wanted. I knew that snip- ing (bidding at the last second) was a technique that often worked. I was going to snipe! But Torn was much better at it than I was, and he got the note, and at a very good price. We already knew each other, and I emailed him and told him that I had to have that note. I knew I was making myself vulnerable! He agreed to sell it to me. He reminded me what a great note it was (he also knew that the note was in an area of prime interest to me). I waited for his price, afraid it would be really—and jus- tifiably—high. Yes, he did mark it up, but nowhere near what it was worth. It's the cornerstone of one of my collections now. I've bought many notes from him since then and had many enjoyable conversations at his table. I will miss Tom Durkin.". $ money mart PAPER MONEY will accept classified advertising on a basis of 15c per word (minimum charge of $3.75). Ad must be non-commercial in nature. Word count: Name and address count as five words. All other words and abbreviations, figure combinations and initials count as separate words. No check copies. 10% discount for four or more insertions of the same copy. Authors are also offered a free three-line classified ad in recognition of their contribution to the Society. These ads are denoted by (A) and are run on a space available basis. Special: Three line ad orsix issues only $20.50! (wow) WANTED SMALL SILVER CERTIFICATES. $1.00 1928D and 1928E; $10 1934A, 1934B and 1934D; 1953A and 1953B. George W. Taylor, PO Box 242, Georgetown, TX 78627-0242 (238) EUREKA SPRINGS, ARKANSAS Banknote wanted. Also any relat- ed contemporary banking material. Martin Roenigk, 75 Prospect Ave., Eureka Springs, AR 72632. (479) 253-0405. (239) KANSAS NATIONALS WANTED. Goodland #14163, Olathe #3720, Pleasanton #8803. A.R. Sundell, Box 1192, Olathe, KS 66051 (236) BANK HISTORIES WANTED. Collector seeking published histo- ries of banks which issued Obsoletes and/or Nationals. Also seeking county/state/regional banking histories. Bob Cochran, PO Box 1085, Florissant, MO 63031 e-mail: (234) LINCOLN PORTRAIT ITEMS. Collector desires bank notes, scrip, checks, CDVs, engraved/lithographed ephemera, etc. with images of Abraham Lincoln for book on same. Contact Fred Reed at P.O. Box 118162, Carrollton, TX 75051-8162 or (245) WANTED. Canadian Chartered Bank Notes. Wendell Wolka, PO Box 1211, Greenwood, Indiana 46142 (234) WANTED KANSAS. Obsoletes -- Checks -- Drafts. S. Whitfield, 879 Stillwater CT, Weston, FL 33327 (234) SOUTH BEND, INDIANA. Obsolete paper money from South Bend or St. Joseph County wanted. Bob Schreiner, POB 2331 Chapel I-Iill, NC 27515-2331; email: (234) PAPER MONEY BACK ISSUES FOR SALE. Issues from the 1970s and 1980s. Send me your wants for quote (237) WANTED. OBSOLETES AND NATIONALS from New London County CT banks (Colchester, Jewett City, Mystic, New London, Norwich, Pawcatuck, Stonington). Also 1732 notes by New London Society United for Trade and Commerce and FNB of Tahoka Nationals #8597. David Hinkle, 215 Parkway North, Waterford, CT 06385. (249) WAREHOUSE FIND. Civil War Encased Stamps: the Issuers and Their Times (0/P 1995) by Fred Reed, 560 pages, autographed, $66 post- paid & insured. P.O. Box 118162, Carrollton, TX 75011-8162 (239) I GOT WHAT I WANTED. My ad in "Money Mart" put seven new Abraham Lincoln checks in my collection and Memphis exhibit. Now what's your excuse for NOT advertising in "Money Mart"? (A) WANTED RADARS, REPEATERS, low and fancy serials 1928- 1963 also Large Size 8 digit radars and repeaters. Logan Talks, 14 Misty Cove Ln., Hilton Head Island, SC 29928 (243) MASSENA, NEW YORK #6694 bank notes wanted, large or small size, also obsolete and related materials to Massena banks. John White, P.O. Box 3183, Spring Hill, FL 34606 (243) POTSDAM, NEW YORK #868 and #5228 bank notes wanted, large and small size, also obsoletes and materials relating to Potsdam banks, John White, P.O. Box 3183, Spring Hill, FL 34606 (243) 20th CENTURY U.S., articles relating to modern small size U.S. cur- rency are especially needed for publication in Paper Money. (PM) PAPER MONEY • May/June 2005• Whole No. 237 235 rWANT ADS WORK FOR YOU R SPMC Founding Fathers were a smart breed. They knew Collector-to-Collector Want ads work. That's why they created "Money Mart" so they could place THEIR WANT LISTS before the rest of the members of our Society Up to 20 words plus your address in SIX BIG ISSUES only $20.50/year!!!! * * Additional charges apply for longer ads; see rates on page opposite -- Send payment with ad SPMC's Founding Fathers built some great paper money collections that way Now YOU be a smart guy/gal too. Put out your want list in "Money Mart" and see what great notes become part of your collecting future, too. (Please Print) L ONLY $20.50 /YEAR ! (wow) Announcing Paper Money's Upcoming Specialty Publishing Program September/October 3rd Obsolete Currency Issue January/February 2nd Fractional Currency Issue May/June 6th U.S. National Bank Note Issue SPMC's special 80-page issues of its award-winning journal Paper Money have become the "hot ticket" in the hobby Reserve your advertising space now Full Page rate $300 Half Page rate $175 Quarter Page rate $100 Contact Editor NOW Deadlines are July 1 5th (Obsolete Currency) & Nov. 20th (Fractional Notes) L May/June 2005 • Whole No. 237 • PAPER MONEY236 NEW MEMBERS MEMBERSHIP DIRECTOR Frank Clark P.O. Box 117060 Carrollton, TX 7501 1 SPMC NEW MEMBERS - 02/01/2005 10881 Tim Halpin, 5670 NW 78 Ave, Doral, FL 33166 (C, US), Website 10882 Terry Keros (C), Website 10883 Vincent Jurgaitis (C), Tom Denly 10884 John W. Teat Jr. (C), Frank Clark 10885 Gary R. Kraak (C), Website 10886 John M. Breen, 3009 Sir Willoughby CT, Bowling Green, KY 42104 (C, Paper Money), Website 10887 John O'Neill, 738 Main St PMB #240, Waltham, MA 02451-0616(C & D, MPC, United States and Foreign), Website 10888 Scott Purvis, PO Box 916909, Longwood, FL 32791- 6909 (C), Website 10889 Michael Davignon (C), Website 10890 Robert Kelley Mannen MO 63139 (C), website 10891 Randall R. White (C), Mike Crabb 10892 Keith James (C), Website 10893 John Watson (C), Jerry Williams 10894 George A. Bilodeau Jr., 6 Lenbob Ave, Thompson, CT 06277 (C), Bob Cochran 10895 Paul J. Dorio (C), Website 10896 Michael J. Kennedy, 5534-2 Nathan LN N, Plymouth, MN 55442 (C & D, Nationals & U.S. Small), Website J10897 Mac Thomson, 6597 Stone Mountain Rd, Aubrey, TX 76227 (C, U.S. & Foreign), Website 10898 Coleman Hartigan (C), Tom Denly 10899 Leslie D. Lewis (C, Confederate), Fred Reed 10900 Priscilla S. Rhoades (C, Confederate), Fred Reed 10901 Dave Rickey (C), Website 10902 Brenda Rickey (C), Dave Rickey 10903 Dale Alberstone, 1801 Avenue of the Stars #600, Los Angeles, CA 90067 (C, U.S. Large & Confederate), Website LIFE MEMBERSHIP LM358 Frank Gerald Laiacona - Converted from 10702 LM359 Joseph Maguire - Converted from 8311 LM360 William Youngerman - Converted from 8577 LM361 Clifford F. Thies (C), Frank Clark LM362 Robert Jackson, PO Box 639, Fort Lauderdale, FL 33302 (C, U.S. Large), Wendell Wolka SPMC NEW MEMBERS - 03/21/2005 10904 Richard E. Hart, 1870 Hughes Loop Rd, Maryville, TN 37803 (C, Fractional & U.S. Large), website 10905 Ronald Nowak (C), Rob Kravitz 10906 Buckley Major (C), Website 10907 C. Mack Wilhite 28403 (C), Robert S. Neale 10908 Amanda Sheheen, P.O. Box 1711, Camden, SC 29020 (D), Austin Sheen 10909 Dale Keith, 8500 SW 108 St, Miami, FL 33156 (C, U.S. Large), Judith Murphy 10910 Mark Gans (C), Wendell Wolka 10911 David J. Galbavy, 47975 259th St, Brandon, SD 57005 (C), Wendell Wolka 10912 Gary Braisted, 1240 Delray Lakes Dr, Delray Beach, FL 33444 (C & D), Judith Murphy 10913 Lea Sorrells (C & D), Wendell Wolka 10914 Bary W. Siegel (C), Paul Burns 10915 David M. Wolford (C), Jack Levi 10916 James R. Koehler (C), Website 10917 Allen Miciek (C), Wendell Wolka 10918 Robert L. Sands (C), Frank Clark 10919 John Hoyle Jr., 7605 Geronimo Circle, North Little Rock, AR 72116-4317 (C, U.S. Large, Fractional), Ron Horstman 10920 Charles Knupp, 1042 E. Rockspring Rd, Greenville, NC 27858 (C, Confederate, NC Obsoletes), George Tremmel 10921 Harold Levi, RR 3 Box 123, Linden, TN 37096 (C, Confederate), Fred Reed 10922 Allen R. Bush (C), Tom Denly 10923 Jeffery J. Abbott, 6501 Ravenna Ave NE #201, Seattle, WA 98115-7055 (C & D), Tom Denly 10924 Richard Nonnemacker (C), Tom Denly 10925 John K. McBride, 515 South 7th St, Lafayette, IN 47901 (C, Nationals & Indiana Obsoletes), Wendell Wolka 10926 William Combs, 1316 W. Robin Dr, Visalia, CA 93291 (C, Spurious Obsoletes), Website 10927 Tim J. Berglund, 12309 Tanager LN NW Apt 203, Silverdale, WA 98383-7623 (C, Treasury Notes, Legal Tenders, Silver Certificates, Star Notes), Rob Kravitz 10928 Robert Sima, C/O BG Distributing Corp, 1671 West 8 St, Brooklyn, NY 11223-1242 (C & D, Small Size FRNs and Error Notes), Website 10929 Don W. Moffitt, 13353 Beaver Creek Rd, Sumerduck, VA 22742 (C, US), Website 10930 Josh T. Howard (C),Wendell Wolka 10931 Joseph Rosania (C), Website 10932 Jerry E. Jones (C), Website 10933 Karl M. Paul (C), Wendell Wolka 10934 John C. Ramsey, PO Box 956, Gardiner, ME 04345 (C, Maine Nationals & Fractional Currency), Website 10935 Tim Luger (C), Website 10936 David Stitely, 2080 N. Ridley Creek Rd, Media, PA 19063-4531 (C, Fractional Currency & Obsoletes), Rob Kravitz 10937 Michael L. Shong, 2500 S. 370th #265, Federal Way, WA 98003 (C, Fractional Currency & Obsoletes), Website 10938 Oliver Pflug (C), Website 10939 George Cuhaj, PO Box 433, Iola, WI 54945 (C, Czechoslovakia, United States), Mark Anderson 10940 Stephen Ward (C), Website 10941 Bill Adamec (C), Website 10942 Brian Manns, 2908 Manns Ave, Baltimore, MD 21234 (C & D, U.S. Large & Small, Stars), Website 10943 Joseph Salerno III (C), Frank Clark 10944 Morland C. Fischer, 7225 Pony CT, Orange, CA 92869 (C, US & Foreign Errors), Frank Clark 10945 Bryce A. Monroe, 29911 Oakford Rd, Oakford, IL 62673 (C, US Large & Small), Tom Denly 10946 Bruce Kriebel, 406 Pinelake CT, Manning, SC 29102- 4967 (C), Wendell Wolka 10947 W.W. Arnold (C), Wendell Wolka 10948 Vaughn Brader (C), Website 10949 John B. Martin (C), Website 10950 Russell D. Sibert (C), Wendell Wolka REINSTATEMENTS 3766 Robert (Bob) G. Mitchell (C), Wendell Wolka You are invited to visit our web page For the past 5 years we have offered a good selection of conservatively graded, reasonably priced currency for the collector All notes are imaged for your review NATIONAL BANK NOTES LARGE SIZE TYPE NOTES SMALL SIZE TYPE NOTES SMALL SIZE STAR NOTES OBSOLETES CONFEDERATES ERROR NOTES TIM KYZIVAT (708) 784 - 0974 P.O. Box 451 Western Springs, IL 60558 E-mail :=11.1.14 United States Paper Money --special selections for discriminating collectors-- Buying and Selling the finest in U.S. paper money Individual Rarities: Large, Small National Serial Number One Notes Large Size Type Error Notes Small Size Type National Currency Star or Replacement Notes Specimens, Proofs, Experimentals Frederick J. Bart Bart, Inc. (586) 979-3400 PO Box 2 • Roseville, MI 48066 E-mail: PAPER MONEY • May/June 2005 • Whole No. 237 SPMC 6000 Honorees (sponsors of at least 2 new members since March 1, 2004) Bryn Korn Andrew Korn Tom Denly Allen Mincho Robert S. Neale Paul Burns Frank Clark Bob Cochran Judith Murphy Arri Jacob Wendell Wolka Fred Reed Ron Horstman Rob Kravitz Hewitt-Parrish Project Wait Prize Winner R SHAWN HEWITT'S AND CHARLES PARRISH'S. research project on Minnesota obsolete notes and scrip has been awarded the SPMC George W. Wait Memorial Prize of $500 for 2005. Their end product will be a greatly expanded and updated book on this subject, which also includes depression issues, ad notes, postal notes, college currency, cardboard tokens and ephemera. The research team also includes Steve Schroeder and Gil Sem. Always Wanted Monmouth County, New Jersey Obsoletes — Nationals — Scrip Histories and Memorabilia Allenburst — Allentown — Ask?), Park — Atlantic Highlands — Belmar Bradley Beach — Eatontown — Englishtown — Freehold — Howell Keansburg — Keyport — Long Branch — Manasquan — Mat awan Middletown — Ocean Grove — Red Bank — Sea Bright — Spring Lake N.B. Buckman P.O. Box 608, Ocean Grove, NJ 07756 800-533-6163 Fax: 732-282-2525 NBUCKMAN@OPTONLINE.NET WANTED! Information on W.L. Ormsby and the New York Bank Note Company circa the 1840s-1860s, personal information about Ormsby, examples of his paper money (will buy the hills or would be delighted to correspond and receive copies, and anything else). I am planning to do a monograph on Ormsby. Dave Bowers P.O. Box 539 Wolfeboro Falls, NH 03896 237 238 May/June 2005 • Whole No. 237 • PAPER MONEY Publish Your Labor of Love T AST JUNE AT THE MEMPHIS INTERNATIONAL I i Paper Money Show, SPMC sponsored a panel discussion about publishing your paper money manuscript. Several promi- nent paper money authors participated--authors of books to CDs to web sites. Each described his experiences with a view of guid- ing the first time author to choose a format and then get it "printed." It was a surprisingly popular program flawed only by a scheduling confusion that caused us to adjourn too early. We're presenting a similar program again this year, but moving it to Friday, June 17, afternoon, when there is less coin- petition for space. We expect to begin at 2 p.m., but the time isn't yet final. Check the SPMC web site later. We'll also post the information at the Memphis show. Numismatic paper money book publishers aren't numer- ous. A few books that can expect sales in "large" numbers, such as popular catalogs of U.S. paper money, may find a mainstream publisher. Krause, which publishes across a broad hobby spec- trum, accepts books with more modest sales expectations. A few other companies make up the remainder. Non-profit organiza- tions, primarily SPMC, and self-publishers contribute to the far SPMC Librarian's Notes By Bob Schreiner, Librarian opposite of "best sellers." Some of our niche books may only expect sales in the 300-400 range over a decade! A North Carolina publisher stands out as an intriguing newcomer with respect to numismatics. McFarland (www.mcfar- has just published its fourth numismatic book, Fred Reed's Show Me the Money, The Standard Catalog of Motion Picture, Television, Stage and Advertising Prop Money (see my review else- where in this issue). A couple of years ago, they published George Tremmel's Counter felt Currency of the Confederate States of America. Both books by SPMC members are high quality, land- mark works in their areas. McFarland describes itself as a library-oriented publisher "producing comprehensive reference works and scholarly mono- graphs on a variety of subjects, and manufacturing them to high- est specifications." I think that means that they don't publish many best sellers. It also means that they publish high quality narrowly focused books that libraries add to their reference col- lections. While McFarland is located in the Appalachian Mountains of northwest North Carolina--remote even by that state's measure--they are neither small nor obscure. They have printed some 2,600 books in their 26-year history and are recog- nized, according to information on their web site, "for...serious works in a variety of fields, including performing arts (especially film), sport & leisure (especially baseball and chess), military his- tory, popular culture, and automotive history..." McFarland has a fascinating catalog with perhaps a greater proportion of titles that I would like to read than any other pub- lisher. (But sadly, I will probably never have time enough to get far down their long list.) Definitely worth a look. I congratulate McFarland for contributing to our knowledge about numismat- ics. The SPMC library catalog is on our web site, . I welcome your thoughts on library, web, and related areas. I can be reached at POB 2331, Chapel Hill, NC 27515-2331, or email to . All the world's a stage FOR SOME TIME NOWmy colleagues have been sug- gesting I update my photo on this column. I liked my photo (right), which was a publicity shot for my Civil War Encased Stamps (1995). Now that my new book Show Me the Money is out, I'm willing to turn a new leaf and "reinvent" myself. I take my inspiration from "Homepride Fred." Don't know him? Go to Google and type in "Homepride Fred": you'll get two thousand or so "hits" and see the resemblance. BT\A/, this isn't the first time I've reinvented myself. If you don't think being a Union General south of Mason-Dixon is a "tough sell," sic semper tyrannus! Classified Ads Produce Results Speaking of selling, I got 7 more A. Lincoln checks. Check them out in my exhibit at the Memphis. Now what's your excuse for NOT advertising your wants in "Money Mart" Cat's out of the bag, what I've been doing in my "spare" time lately. Watching more than 1,000 movies. I'll not take up evil habits. Already immersed in my Lincoln book and staying away from plays.. . Whose Interested in Confederates? Apparently everybody these days. Our member survey last year showed 3 of 5 have interest in Confederates and/or obsoletes (incl. Southern States notes/scrip). Reader reaction to my Bank Note Reporter Confederate Currency column and response to our recent CSA special issue, as well as new books in this genre, have convinced a number of us that a CSA note SIG (special interest group) is needed. The proposed SIG need not he formal to be effective and need- n't plunder already existing paper money groups. What do you think? Your ideas and input are of value. Tell me what you think. imam EE ANA HARRY IS BUYING NATIONALS - LARGE AND SMALL UNCUT SHEETS TYPE NOTES UNUSUAL SERIAL NUMBERS OBSOLETES ERRORS HARRY E. JONES 7379 Pearl Rd. #1 Cleveland, Ohio 44130-4808 1-440-234-3330 BUYING AND SELLING PAPER MONEY U.S., All types Thousands of Nationals, Large and Small, Silver Certificates, U.S. Notes, Gold Certificates, Treasury Notes, Federal Reserve Notes, Fractional, Continental, Colonial, Obsoletes, Depression Scrip, Checks, Stocks, etc. 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 47996 SPMC #2907 (765) 583-2748 ANA LM #1503 Fax: (765) 583-4584 e-mail: website: Have a Question?--clip and save If you have a question about the Society, contact the appropriate officer for help. Please include a self- addressed, stamped envelope (SASE) with your inquiry. Correspondence sent without this courtesy cannot be answered. Or you may inquire via e-mail. Postal addresses are listed on page 322. • Application for membership: Frank Clark or • Status of membership, address change , non-receipt of magazine, or about the library or the SPMC web site: Bob Schreiner or Inquiries about regional/annual meetings: Judith Murphy or Matters relating to Paper Money articles or ads: Fred Reed or PAPER MONEY • May/June 2005• Whole No. 237 r AD INDEX AMERICAN NUMISMATIC RARITIES 195 AMERICAN SOC. OF CHECK COLLECTORS 229 BART, FREDERICK J. 237 BENICE, RON 187 BERK, HARLAN J. 201 BOMBARA, CARL 229 BOWERS & MERENA GALLERIES IBC BOWERS, Q. DAVID 227 BOWERS, Q. DAVID 237 BUCKMAN, N.B. 237 COHEN, BERTRAM 184 COLLECTIBLES INSURANCE AGENCY 225 CURRENCY AUCTIONS OF AMERICA OBC DENLY'S OF BOSTON 187 EARLY AMERICAN NUMISMATICS 215 FRICKE, PIERRE 207 HOLLANDER, DAVID 213 HORWEDEL, LOWELL C. 166-167 HORWEDEL, LOWELL C. 229, 239 HUNTOON, PETER 213 JONES, HARRY 239 KAGIN, A.M. 223 KAGIN'S 229 KNIGHT, LYN 219 KYZIVAT, TIM 237 LITT, WILLIAM 179, 207 LITTLETON COIN CO. 240 MARRELLO, RAY 229 MCFARLAND PUBLICATIONS 175 NUMISMANIA 197 PCDA 193 PCGS CURRENCY 183 PERAKIS, ALEX 201 PMG,PAPER MONEYY GUARANTY 171 POLIS, JAMES 191 POMEX, STEVE 201 REED III, FRED L. 201 ROB'S COINS & CURRENCY 221 ROBERTSON, KENT 191 SCOTSMAN AUCTION CO. 209 SHULL, HUGH 162 SMYTHE, R.M. IFC SMYTHE, R.M 220 ST. LOUIS PAPER MONEY SHOW (PCDA) 211 YOUNGERMAN, WILLIAM, INC. 215 239 240 May/June 2005 • Whole No. 237 • PAPER MONEY "...I didn't worry about selling my mother's coin collection. Littleton's reputation is well deserved." R.L., LANCASTER, NH Inherited coins or paper money? Thinking of selling your own collection? For over half a century, thousands of folks just like you have counted on Littleton Coin Company to provide accurate appraisals and the industry's best pricing. We treat you and your collection with the respect you deserve. And as the nation's leading supplier, we buy more and pay more — from single coins to entire collections. So if you're thinking of selling, there's no need to worry. Call the team of experts at Littleton and put our more than 100 years of combined experience to work for you. Call 1-800-581-2646 or E-Mail Littleton D13e1:0)9t. MB8t.FE9u1 s0Os Road Coin Company Littleton NH 03561-3735 Fax: 1-877-850-3540 • Dun & Bradstreet #01-892-9653 Celebrating 60 Years of Friendly Service 02005 LCC. Realize Top Market Price for Your Paper Money! Let Our Success be Your Success! Consign with Bowers and Merena Galleries We offer you the incomparable and very profitable advantage of having your material presented in our superbly illustrated Grand Format catalogue to our worldwide clientele of collectors, investors, museums, dealers, and other bidders. Your paper money will be showcased by the same expert team of cataloguers, photographer, and graphic artists that have produced catalogues for some of the finest collections ever sold. And the presentation of your currency will be supervised by some of the most well-known names in the entire hobby. unsurpassed professional and financial reputation. Over the years we have sold over $350,000,000 of numismatic items and have pleased more than 30,000 consignors. eels twiTEDmittirw:NipriatEMSAN aarawrow It's Easy to Consign! Selling your collection will be a pleasant and financially rewarding experience. From the moment we receive your consignment we will take care of everything: insurance, security, advertising, worldwide promotion, authoritative cataloguing, award-winning photography, and more — all for one low commission rate, plus a buyer's fee. When you do business with Bowers and Merena, you do business with a long-established firm of Just contact Mark Borckardt, our auction director at 800-458-4646 to discuss your consignment. It may well be the most financially rewarding decision you make. Buy Online, Bid Online, Books Online! 'cm BOWERS AND MERENA GALLERIES When great collections are sold... Bowers and Merena sells them! A Division of Collectors Universe NASDAQ: CLCT 1 Sanctuary Blvd., Suite 201, Mandeville, LA 70471 • 800-458-4646 985-626-1210 Fax 985-626-8672 • Senior Numismatist Ext 390 Senior Numismatist Ext 32 - AllenM@HeritlgeC stin o nston Senior Numismatist Ext.302 Dusti n ,d'HentageCurrern Davie Lisot Senior Numismatist Ext 303 Heritage Currency Auctions of America Smashes World Records Again and Again. In 2004, Heritage Currency Auctions of America set a new World's Record with $15 million in prices realized for one year. perSei.Mr In January and February, 2005 Heritage Currency Auctions of America SMASHED that record with $18.7 million in prices realized in just two months! Heritage Currency Auctions of America is establishing new world's records left and right. Not only is the market hotter than it's ever been before, but HCAA is reaching new clients, old clients and clients around the globe with an incredible array of offerings. 01° If you've been thinking about selling, NOW is the time to act. Join us in smashing new records in 2005 and beyond! You can view the many new world's records established in 2004 and 2005, along with images, descriptions and prices realized from all Heritage auctions in the Permanent Auction Archives at the Heritage website, HERITAGE CURRENCY AUCTIONS OF AMERICA 3500 Maple Avenue, 17th Floor • Dallas, Texas 75219-3941 14800-872-6467) • 214-528-3500 • FAX: 214-443-8425 • e-mail: 000217 72599, Florida AU 0001059. California 3S 3062 16 64, New York City; Day 1094965, Night 1094966; Samuel 7642, is 04 I 000914, Florida AU3244, and New York City; Day 0952360, Night 0952361. Scott Peterson: S 30 ons bind mina SIMI MN