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Table of Contents
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OFFICIAL JOURNAL OF THE SOCIETY OF PAPER MONEY COLLECTORS
VOL. XLVI, No. 3, WHOLE No. 249 WWW.SPMC.ORG MAY/JUNE 2007
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TERMS AND CONDITIONS
PAPER MONEY is published every other month begin-
ning 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
Society of Paper Money Collectors, Inc., 2007. All
rights reserved. Reproduction of any article. in whole or
part, without written permission, is prohibited.
Individual copies of this issue of PAPER MONEY are
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Paper Money • May/June 2007 • Whole No. 249 161
Paper Money
Official Bimonthly Publication of
The Society of Paper Money Collectors, Inc.
Vol. XLVI, No. 3 Whole No. 249 MAY/JUNE 2007
ISSN 0031-1162
FRED L. REED III, Editor, P.O. Box 793941, Dallas, TX 75379
Visit the SPMC web site: www.spmc.org
FEATURES
The Paper Column: Confederate National Banks 163
By Peter Huntoon, Charles Dean & Matt Hansen
Counterfeit National Bank Note Survives Its Obituary 176
By Dr. Jack M. Vorhies (deceased)
The Paper Column: $5 Series of 1882 Circus Poster National Bank Notes . 193
By Peter Huntoon, Doug Walcutt (deceased) & Robert Kvederas
On This Date in Paper Money History 207, 209
By Fred Reed
Francis E. Moulton, National Bank President 212
By Karl Sanford Kabelac
The Story of a Rose, Four Lazy Deuces and Two Casinos 220
By Martin Rogan
Special 9-page Full Color Book Section
Spotlight falls on new paper money books 225
By Fred Reed
Hugh Shull dons Criswell's "King of Dixie" currency mantel 225
By Fred Reed
Bowers' latest opus another virtuoso performance 226
By John & Nancy Wilson, and Fred Reed
Elaborate Hewitt Minnesota volume sets a high standard 228
By Bob Schreiner, John & Nancy Wilson, and Fred Reed
New editions update classic U.S., world paper money catalogs 229
By Fred Reed
Teriffic new book shows us ragpickers one & all 230
By Fred Reed
Wally Lee's Michigan tome offers two great books in one 232
By Fred Reed
Ron Benice's Florida catalog surpasses all previous works 232
By Fred Reed
Two new Krause editions bring standard titles up to date 233
By Fred Reed
SPMC Officer Signed National Currency 236
By Bob Cochran
SOCIETY NEWS
Death claims SPMC author Jack Vorhies 178
Matt Janzen wins 7th George Wait Award 195
President's Column 218
By Benny Bolin
SPMC Librarian's Notes 221
By Jeff Brueggeman
Two new faces, two incumbents to join SPMC Board in Memphis 234
What does Steve think today? It occurs to me... 238
by Steve Whitfield
SOCIETY
OF
PAPER MONEY
COLLECTORS
INC.
•
•
•
• •
•
r•s
ip
* ,4*
CSA and Obsolete Notes
CSA Bonds, Stocks &
Financial Items
Auction Representation
60-Page Catalog for
$5.00
162 May/June • Whole No. 249 • Paper Money
Society of Paper Money Collectors
The Society of Paper Money
Collectors (SPMC) was organized in
1961 and incorporated in 1964 as a
non-profit organization under the laws
of the District of Columbia. It is affili-
ated 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
www.spmc.org .
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 membership; 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 membership numbers will be preced-
ed 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 eligi-
ble 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 S10. 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 membership 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 available. 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 a fall
issue of Paper Money. Checks should be sent to the Society Secretary. •
OFFICERS
ELECTED OFFICERS:
PRESIDENT Benny Bolin. 5510 Bolin Rd., Allen, TX 75002
VICE-PRESIDENT Mark Anderson, 115 Congress St., Brooklyn, NY
11201
SECRETARY Bob Schreiner, POB 2331, Chapel Hill, NC 27515
TREASURER Bob Moon, 104 Chipping Court, Greenwood, SC
29649
BOARD OF GOVERNORS:
Mark Anderson, 115 Congress St.. Brooklyn, NY 11201
Benny J. Bolin, 5510 Bolin Rd., Allen, TX 75002
Bob Cochran, P.O. Box 1085, Florissant. MO 63031
Wes Duran, P.O. Box 91, Twin Lakes, CO 81251-0091
Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231
Robert J. Kravitz, P.O. Box 6099, Chesterfield, MO 63006
Tom Minerley, 25 Holland Ave #001, Albany, NY 12209-1735
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
Wendell A. Wolka. P.O. Box 1211, Greenwood. IN 46142
Jamie Yakes, P.O. Box 1203, Jackson, NJ 08527
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 Jeff Brueggeman. 711 Signal Mountain Rd. # 197,
Chattanooga, TN 37405
MEMBERSHIP DIRECTOR Frank Clark, P.O. Box 117060,
Carrollton, TX 75011-7060
PAST PRESIDENT Ron Horstman, 5010 Timber Ln., Gerald, MO
63037
WISMER BOOK PROJECT COORDINATOR Bob Cochran, P.O.
Box 1085, Florissant, MO 63031
REGIONAL MEETING COORDINATOR Judith Murphy. P.O. Box
24056, Winston-Salem, NC 27114
BUYING AND SELLING
HUGH SHULL
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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 2007 • Whole No. 249 163
THE PAPER COLUMN
Confederate
National Banks
by Peter Huntoon, Charles Dean & Matt Hansen
ne of the great curiosities of the Civil War
was the establishment during the war of
eight national banks within the states that
had seceded. They are listed on Table 1.
Tables 2, 3 and 4 list relevant statistics
pertaining to the national bank note
issues from these banks during the war.
All share a common attribute. They were
organized after Union forces had regained control
over the cities which hosted the banks while the
war was still being fought. There is great sym-
bolism in the chartering of these banks. The
Union never recognized the legitimacy of the
secessions, and never recognized the Confederate
government. Instead, the breakaway was classi-
fied as a rebellion. The Confederate states were
considered part of the Union, so in Union eyes
Union laws applied there.
When Union forces gained dominance over
territory within the secessionist states, was it a Union
occupation or liberation? Military commanders were
appointed, and imposed civil order by fiat, the stuff of occupation.
The Confederate states showing the cities that hosted
U. S. national banks before the Civil War ended.
May/June • Whole No. 249 • Paper Money
$5 Original Series title block
proof for The First National
Bank of Nashville, bearing a
plate date of January 5, 1864.
-.31111iAlexane is
• /
• Knoxville/
Memphis is
ashville
164
Where convenient, the laws of the United States were reasserted over the
reclaimed territory. Consequently the newly legislated national banking law
also took effect, and, as these eight banks demonstrate, bankers in the occupied
or liberated cities could, and did, apply for national charters, and were granted
them.
The irony is that the currency issued through these banks carried
Confederate state names. In addition, the plate dates on the notes fall within
the period when the Confederacy was alive and laid claim to those lands, and
considered them their own. The surviving notes from these issues are histori-
cally significant, but virtually unobtainable.
There is a story in every one of these banks. Were they organized by car-
petbaggers from the north, Union loyalists, or former Confederate pragmatists
who simply could see that there was money to be made? The trend we
observed involves a combination of carpetbaggers and Union loyalists.
Residency requirements for directors had to be dealt with when carpet-
baggers were involved. Three-fourths of the directors had to be residents of
the state and live within 50 miles of the office of the bank for at least one year.
Perhaps this explains the delays between Union occupation and dates of charter
for some of the banks.
One great irony here is that the bonds purchased by the bankers to secure
their circulations, and the greenbacks that they used to buy them, helped
financed the Union war effort which served to heap even more tribulation
upon the Confederacy as the war continued to be prosecuted. This fact was
not lost on the public.
Time was not good to most of these eight banks. Five had vanished by
the end of 1874, three as receiverships, and two as liquidations. It would be
easy to speculate that some faced difficulties reflecting a lack of public support
Paper Money • May/June 2007 • Whole No. 249 165
Table 1. Key dates associated with the corporate existence of the National Banks organized in the Confederate States prior to the
end of the Civil War.
South Carolina seceded December 20, 1860; Civil War began April 12, 1861; Lee surrendered April 9, 1865; remaining Confederate
resistance ceased May 25, 1865.
Date City
Date State Came Under Date Bank Date
Ch. ; City & State Bank Seceded Union Control Organized Chartered
150 Nashville, TN The FNB of Jun 8, 1861 Feb 25, 1862 1863 Dec 11, 1863
Fate of Bank: open in 1935
162 New Orleans, LA The FNB of Jan 26, 1861 Apr 25, 1862 1863 Dec 18, 1863
Fate of Bank: receivership May 20, 1867, Fate of Bank: fraudulent management and injudicious banking
271 Norfolk, VA
The FNB of
Apr 17, 1861
May 10, 1862 1864 Feb 23, 1864
Fate of Bank: receivership June 3, 1874, excessive loans to officers and directors and depreciation of securities
336 Memphis, TN The FNB of Jun 8, 1861 Jun 6, 1862 1864 Mar 25, 1864
Fate of Bank: open in 1935
391 Knoxville, TN
The FNB of Jun 8, 1861 Nov 29, 1863 1864 Apr 19, 1864
Fate of Bank: liquidated Oct 22, 1872
651 Alexandria, VA The FNB of Apr 17, 1861 May 24, 1861 Dec 17, 1864 Dec 24, 1864
Fate of Bank: open in 1935
771 Nashville, TN The SNB of Jun 8, 1861 Feb 25, 1862 Jan 14, 1865 Jan 31, 1865
Fate of Bank: liquidated Jan 8, 1874
803 Vicksburg, MS The NB of Jan 9, 1861 Jul 4, 1863 Jan 17, 1865 Feb 14, 1865
Fate of Bank: receivership Apr 24, 1868, fraudulent management
Table 2. Circulations of the Confederate National Banks during and immediately following the Civil War. The Vicksburg bank did
not report any circulation until $25,500 in October 1867.
Oct 1864 Oct 1865 Oct 1866
150 Nashville TN The First National Bank of 70,000 222,450 222,450
162 New Orleans LA The First National Bank of 166,000 180,000 180,000
271 Norfolk VA The First National Bank of 80,500 95,000 95,000
336 Memphis TN The First National Bank of 30,000 73,500 174,500
391 Knoxville TN The First National Bank of 26,500 65,700 76,340
651 Alexandria VA The First National Bank of 86,500 86.500
771 Nashville TN The Second National Bank of 87,750 87,725
803 Vicksburg MS The National Bank of
once the war ended, as southern identities and allegiances were reasserted with-
in the affected communities. The record does not bear this out, however.
Three of the banks in Alexandria, Memphis and Nashville survived the
entire national bank note era, some becoming major economic forces in the
communities that they served. The early liquidations of others appear to have
been business decisions as is the case for the Knoxville bank that will be pro-
filed below. Data presented in Table 1 reveals that the three failures were due
to a combination of crooked and injudicious management.
In an history about The First National Bank of Memphis, author Tuttle
1 S6249 i
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Paper Money • May/June 2007 • Whole No. 249 167
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Table 3. Bonds purchased through the end of 1865 to secure
the circulations for the Confederate National Banks.
150 Nashville, TN
Dec 11, 1863
June 7, 1864
June 30, 1864
Oct 12, 1864
Nov 1, 1864
Nov 9, 1864
Nov 16, 1864
Jun 26, 1865
Aug 4, 1865
Oct 19, 1865
162 New Orleans, LA
Dec 16, 1863
Jun 7, 1864
271 Norfolk, VA
Feb 22, 1864
Apr 16, 1864
Jul 15, 1864
Oct 29, 1864
336 Memphis TN
Mar 26, 1864
Jun 30, 1864
Aug 1, 1864
Jan 23, 1865
Sep 9, 1865
Sep 21, 186
391 Knoxville TN
Apr 18, 1864
May 12, 1864
Jul 18, 1864
Oct 28, 1864
Nov 9, 1864
Apr 10, 1865
Apr 20, 1865
Sep 7, 1865
651 Alexandria, VA
Dec 24, 1864
Feb 7, 1865
Mar 3, 1865
771 Nashville, TN
Jan 30, 1865
Jun 17, 1865
803 Vicksburg, MS
Feb 12, 1865
The First National Bank of
50,000
15,000
13,000
50,000
10,000
30,000
suspended
30,000
50,000
3,000
The First National Bank of
50,000
150,000
The First National Bank of
30,000
10,000
50,000
22,000
The First National Bank of
10,000
20,000
5,000
65,000
85,000
15,000
The First National Bank of
10,000
10,000
10,000
10,000
20,000
8,000
7,000
12,000
The First National Bank of
50,000
40,000
10,000
The Second National Bank of
45,000
55,000
The First National Bank of
30,000
May/June • Whole No. 249 • Paper Money168
(1939) assiduously avoided any revelations regarding
from whence the organizers came. The principle was
Frank S. Davis, the first president, who wrote: "We
expect tomorrow to commence business -- that is, com-
mence looking for a banking room and for stockhold-
ers. I like Memphis one hundred percent. . . the busi-
ness men are very cordial, the weather is very pleasant
and the hotel quite good." Tuttle goes on to relate:
Upon a previous visit to Memphis soon after the out-
break of the war, he (Davis) found the city emerging from
a period of phenomenal growth and development. Its
population has increased from eleven thousand in 1850 to
nearly forty thousand. . . .Covering an area of more than
six square miles, it was starting, under authority of the
State Legislature, improvements in the form of street
paving, schools, railroad extensions, etc., amounting to
over $2,000,000. Business was thriving, and the people
were prosperous.
But now all this remarkable development had been
halted. With the continued occupancy of the city by
Federal troops and the entire business and social life of
the community dominated by the Military, Memphis was
beginning, in earnest, to feel the crushing hand of war.
Building activity had ceased. Of the more than eighteen
hundred buildings under construction at the outbreak of
the war, few, if any, were completed. Trade was at a
standstill, business demoralized. Citizens were leaving
Memphis to such an extent that its population was
reduced to less than twenty-five thousand. Civil authority
had been suspended and the city was governed through
the daily publication of Special or General Orders issued
through the office of the Provost Marshal. The matter of
obtaining food and provision for the populace was becom-
ing increasingly difficult with prices soaring far out of
range of the average person's ability to pay.
Perhaps, after the war, it was just as well that the
local patrons didn't know where Davis came from.
Memphis had fallen early in the war. The
Confederates under Commodore Montgomery retreat-
ed to Memphis with eight vessels mounting 28 guns
after abandoning Fort Pillow, situated 40 miles north
of Memphis on the Mississippi River. On June 6, 1862,
Union Commodore Davis (not the Davis of the bank),
with five gunboats and two rams arrived at the city. A
fierce one hour twenty minute naval battle ensued, and
Memphis capitulated to the Union force (Richardson,
1899).
Some 19,000 people swelled the population of
Memphis during the year following its fall. The bank
was chartered in 1864.
Harper's Weekly (Sept. 10, 1864) reported great
excitement in Memphis during the pre-dawn hours of
August 22, 1864, when Confederate Major General
Nathan Bedford Forrest led eight or nine cavalry regi-
ments consisting of about 1,500 men, mostly from
Tennessee, on a lightning raid into town. They split
into separate detachments upon reaching Beal Street,
apparently with primary objectives of capturing Union
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Paper Money • May/June 2007 • Whole No. 249
The First National Bank of Memphis
was the first of the Confederate nation-
al banks. The $5 proof has an 1864
plate date. The plate for the spectacu-
lar $1 and $2 notes was made early in
1865; however, the first printing
arrived at the Comptroller of the
Currency's office June 16th after the
war. They carry a January 2, 1865,
plate date, so technically they rank as
Confederate national bank notes.
Generals Washburne and Hurlburt who were stationed there, and releasing
Confederate prisoners of war held at Irving Prison. The Union generals elud-
ed their pursuers, although Washurne lost his overcoat to the raiders. The
prison rescue was repulsed by a vigorous defense and timely arrival of the 8th
Iowa Regiment.
Although it was claimed that about 100 horses were taken, the raiders
apparently were forbidden to plunder on pain of death. They didn't rob The
First National Bank, which of course was closed at that hour, although they
undoubtedly rode right past it. The raiders left town at about 6 a.m.
Forrest confiscated Washburne's coat from his men upon learning of it,
and had it returned through the lines directly to Washburne. In turn,
170 May/June • Whole No. 249 • Paper Money
Table 4. Shipments of Original Series National Bank Note sheets from the Comptroller of the Currency to the Confederate National
Banks through the end of 1865.
First redemption refers to the date when the first worn notes from circulation were logged into the redemption ledger.
150 Nashville, TN The First National Bank of
Feb 13, 1864 10-10-10-10 1-1000
Feb 15, 1864
10-10-10-10 1001-1125
Jul 14, 1864 5-5-5-5
1-1250
Oct 15, 1864 10-10-10-10 1126-1875
Oct 31, 1864 20-20-20-50 1-130
Nov 10, 1864 20-20-20-50 131-458
Jul 10, 1865
10-10-10-10
1876-2000
Jul 12, 1865
20-20-20-50 459-658
Aug 11, 1865
10-10-10-10
2001-2750
Aug 11, 1865
20-20-20-50 659-795
next delivery Feb 26, 1867,
1st redemption Sep 25, 1867
391
651
Knoxville, TN The First National Bank of
Jun 13, 1864
10-10-10-20
1-350
Jul 23, 1864 5-5-5-5 1-475
Oct 29, 1864 10-10-10-20 351-500
Nov 10, 1864 10-10-10-20
501-860
Apr 20, 1865 10-10-10-20 861-1004
Apr 22, 1865
10-10-10-20 1005-1124
Sep 23, 1865 1-1-1-2 1-728
next delivery Jan 2, 1868,
1st redemption Dec 27, 1867
Alexandria, VA The First National Bank of
Feb 9, 1865
5-5-5-5 1-500
162 New Orleans, LA The First National Bank of Feb 11, 1865 10-10-10-20 1-1000
Feb 19, 1864 10-10-10-10 1-500 Feb 15, 1865 5-5-5-5 501-1000
Feb 25, 1864 10-10-10-10 501-1000 Feb 16, 1865 5-5-5-5 1001-1325
Mar 4, 1864 10-10-10-10 1001-1125 Feb 27, 1865 5-5-5-5 1326-1400
Jun 4, 1864
5-5-5-5 1-1500 Mar 7, 1865 5-5-5-5 1401-1500
Jun 16, 1864 20-20-20-50 1-500
Jun 23, 1864 10-10-10-10 1126-2000
Jul 14, 1864
10-10-10-10 2001-2375
end, 1st redemption Oct 25, 1867
Mar 13, 1865 10-10-10-20 1001-1130
next delivery Mar 10, 1868,
1st redemption Mar 10, 1868
771 Nashville, TN The Second National Bank of
271 Norfolk, VA The First National Bank of Apr 8, 1865 5-5-5-5 1-500
May 19, 1864
10-10-10-10 1-875 Apr 12, 1865 5-5-5-5 501-1000
Jul 16, 1864
10-10-10-10 876-1000 Apr 13, 1865 5-5-5-5 1001-1250
Jul 16, 1864 5-5-5-5 1-1000 Apr 14, 1865 10-10-10-20 1-265
Jul 25, 1864 5-5-5-5 1001-2000 Jul 1, 1865 10-10-10-20 266-500
336
Nov 1, 1864 10-10-10-10 1001-1375
next delivery Aug 14, 1867,
1st redemption Aug 12, 1867
Memphis, TN The First National Bank of
Jul 1, 1865 5-5-5-5 1251-1500
Jul 7, 1865
5-5-5-5 1501-2250
Jul 11, 1865 10-10-10-20 501-855
next delivery Mar 17, 1868,
1st redemption Mar 14, 1868
Jun 20, 1864 10-10-10-20 1-180
Jul 2, 1864 10-10-10-20 181-540 803 Vicksburg, MS The First National Bank of
Aug 5, 1864 10-10-10-20 541-630 May 5, 1865 5-5-5-5 1-1000
Jan 25, 1965 10-10-10-20 631-880 May 17, 1865 10-10-10-20 1-100
Jan 25, 1865 5-5-5-5 1-875
Feb 1, 1865 10-10-10-20 881-1360
Mar 7, 1867 10-10-10-20 101-110
end, 1st redemption Nov 24, 1868
Sep 22, 1865 10-10-10-20 1361-1800
Sep 22, 1865 1-1-1-2 1-2000
Oct 31, 1865 50-100 1-380
next delivery May 23, 1867,
1st redemption Nov 22, 1867
Washburne went to Forrest's clothier in Memphis, had a Confederate uniform
made for him using measurements on file there, and it was sent in turn through
the lines to Forrest.
Forrest, a great southern hero, wa.s known for financing and building his
own cavalry force, for his daring and aggressive cavalry tactics, and for being
one of the most hunted of Confederate generals by Union General Sherman.
He never was captured, and died October 29, 1877, in Memphis where he is
buried.
35.7208 sa.1 40,41tImit*
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May/June • Whole No. 249 • Paper Money172
$5 Original Series title block proof for The First National
Bank of Knoxville, bearing a plate date of May 2, 1864.
4000 sheets of $5s were sent to the bank, but none are
known to have survived.
Much more is known about The First National Bank of Knoxville thanks
to pioneering research by co-author Charles Dean (1996). Knoxville, situated
on the Tennessee River, is located in eastern Tennessee, and was dominated by
small farms in character with the mountainous terrain, rather than the large
plantations to the west and south. Although states righters and tolerant of slav-
ery, the east Tennesseans generally considered the Union to be sacrosanct.
The Tennessee legislature passed an Ordinance of Secession on April 12,
1861, that put the issue to a vote of the people on June 8th. In response, the
East Tennessee convention was convened at Knoxville in mid-June, 1861,
where resolutions were adopted opposing the recent actions of the state legisla-
ture, and requesting Tennesseans to vote against secession.
The June 8th referendum passed overwhelmingly 2 to 1, so the East
Tennessee convention was reassembled in Greenville, wherein those assembled
petitioned the Tennessee legislature for separate statehood so they could join
the Union. This, of course, was denied. Soon thereafter many East Tennessee
Unionists joined the Federal army.
Knoxville found itself firmly within the Confederacy, and the city had
great strategic economic value to the cause owing to its east-west railroad and
as a pork production center. Despite this, Unionist sentiments remained strong
among certain of its citizens, who worked to undermine the Confederacy.
By early 1863, western and middle Tennessee were already lost to the
armies of the Union. Major General Simon Bolivar Buckner assumed com-
mand of the Confederate Department of East Tennessee in May with his forces
centered around Knoxville. Confederate General Braxton Bragg and his Army
of Tennessee were encamped around Chattanooga at the beginning of July.
The two armies were merged under Bragg to better defend Chattanooga on
July 25th, although at the time they were separated by distance.
In mid-August, Union armies began their assault on the remaining
Tennessee forces, with Major General William Rosecrans advancing from
Tullahoma, Tennessee, toward Chattanooga, and General Ambrose Burnside
advancing into eastern Tennessee from Lexington, Kentucky.
Bragg, outnumbered, and knowing Buckner was in hopeless straights to
his east, called Buckner's forces to Chattanooga. On September 2, with
Buckner and his soldiers gone, Burnside's Federal troops marched into
Knoxville through streets lined with cheering Unionists.
However, Knoxville's fate as a Union bastion was not vet fully secured yet
owing to coining bloody see-saw fighting for the territory within eastern
Tennessee. Bragg was forced to abandon Chattanooga on September 9th in
the face of Rosecrans' Union army. Simultaneously General Lee dispatched
General Longstreet's corps of his Army of Northern Virginia by rail through
the Carolinas and Georgia to buck up Bragg's forces. The first of Longstreet's
men arrived September 19th, immediately plunging into the battle of
Chickamauga. Longstreet, capitalizing on a Union division that had been
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Paper Money • May/June 2007 • Whole No. 249 173
errantly pulled off the line, drove through splitting the Union ranks, and forced
a Union retreat to Chattanooga. The Confederates then laid siege to
Chattanooga throughout October.
Burnside began an advance on Chattanooga from Knoxville, so on
November 4th Bragg sent Longstreet to drive Burnside back, and then out of
east Tennessee entirely, in order to relieve pressure on the Confederate siege
of Chattanooga. When the armies met on November 16th, Burnside's forces
foundered, and retreated to Knoxville. Longstreet besieged Knoxville the next
day.
During the siege, Longstreet on November 29th attempted to overwhelm
nearby Union held Fort Sanders, which he mistakenly thought was lightly
defended. His forces were routed in this action, and he saw his hopes for dis-
placing Burnside from Knoxville evaporate. Even so, he maintained the siege
of Knoxville until December 4th. At that time, Federal forces under relentless
General William T. Sherman drove him and his remaining army to the north-
east.
Longstreet settled in for the winter at Bulls Gap 50 miles from Knoxville,
but never was able to regain the initiative against Knoxville. His army corps
was withdrawn from Tennessee and repatriated into the Lee's Army of
Northern Virginia in early April 1864. Knoxville suffered greatly under the
siege with buildings burned or shelled, and the land stripped of vegetation.
Both sides were forced to forage throughout the ordeal resulting in innumer-
able skirmishes. The divided sentiments among the local population resulted
in ugly and murderous deprivations and reprisals against each other.
This Confederate national bank note
from Knoxville is the centerpiece of
coauthor Dean's Tennessee collection,
being the only reported specimen from
any of the Confederate national banks
to have been printed during the Civil
War. The plate date is May 2, 1864.
This note is serial 291397 red-1062-C,
the last two digits of the bank sheet
serial number having been altered
through a spliced in repair. It was in
the second 10-10-10-20 shipment for
the bank from the Comptroller's office
consisting of bank sheet serials 501-
1500, received there October 25,
1864.
The First National Bank of Knoxville was organized on April 6, 1864,
following on this chaos. The principal was William T. Perkins from
Cincinnati, Ohio, installed as president, in league with W. R. Patterson, also of
Cincinnati, who was elected cashier. Both then moved to Knoxville to open
their bank. The remaining board was composed of stanch Unionists, all from
Knoxville. Their charter was granted April 19.
Both Perkins and Patterson returned to Cincinnati two years after the
founding, Patterson being forced to resign over a conflict of interest over loans
to a mercantile house in which he had an ownership share, and Perkins to pur-
sue other interests. Locals then took full control of the bank.
The bank was fated to be liquidated October 22, 1872. This appears to
have been a business decision, devoid of any rancor associated with its being a
Unionist managed entity. The bonds purchased by the shareholders to secure
their circulation were bought at a discount in 1864. By 1872, they had risen in
value sufficiently that a tidy profit could be made by selling them, and cashing
out. The shareholders caved to this temptation, netting for themselves $135
per share on stock that been subscribed at $100.
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May/June • Whole No. 249 • Paper Money174
Alexandria, right across the
Potomac River from
Washington, DC, was seized
by Union troops on May 24,
1861, the day after Virginia
voters approved secession.
The First National Bank got
a fairly late start in the city
during December 1864, but
still before the end of the
war. Notice the December
28, 1864 plate date.
Nashville was abandoned by
General Johnson's outnum-
bered Confederate Army in
February 1862. Union MG
Buell took the undefended
city. The First National
Bank opened at the end of
1863, the first of the so-
called Confederate national
banks. The Second National
Bank came along two years
later, also before the end of
the war.
The Union fleet under the
command of Commodore
David Farragut captured
New Orleans on April 25,
1862, and Union General
Benjamin Butler formally
occupied the city on May 1,
giving the Union control
over the strategic lower
Mississippi River. The First
National Bank was chartered
in December 1863. Notice
the January 1864 plate date.
The unambiguous Unionist loyalties of two of the original stockholders
make for particularly interesting reading. The following compilations are dis-
tilled from Dean (1996).
William Brownlow was born August 29, 1805, in Wythe County,
Virginia; orphaned at 11; licensed as a Methodist preacher in 1826; and became
a circuit riding preacher. He pursued an early career in newspapers, settling in
Knoxville in 1849 by founding the Knoxville Whig. His editorials railed against
secession, and he served as a member of the East Tennessee Convention in its
fight against Tennessee's Ordinance of Secession. He was suspected of being a
ringleader of Unionists who sabotaged railroad bridges in November 1861, so
was jailed by the Confederates in Knoxville that December. He was banished
Paper Money • May/June 2007 • Whole No. 249 175
to Union-held Nashville in March 1862, but returned to Knoxville shortly after
it was occupied by Union troops.
He was elected governor of Tennessee in February 1865, and reelected in
1867, wherein he pursued a heavy handed policy toward former Confederates
and plunged the state deeply into debt. He served one six-year term as U. S.
Senator from Tennessee beginning in 1869. Parson Brownlow, called "the
meanest man that ever walked the streets of Knoxville," died April 29, 1877.
Samuel Carter, born in 1819 in Elizabethton, graduated from the U. S.
Naval Academy at Annapolis in 1846. He organized 2,000 East Tennessee vol-
unteers for the Union in the late summer of 1861, and by May 1862, attained
the rank of Brigadier General of the Volunteer Army. He accompanied
Burnside into Knoxville in 1863, eventually becoming a Major General in the
Volunteer Army. He resumed his career in the navy after the war, was
Commandant of the U. S. Naval Academy from 1870 to 1873, and promoted to
Rear Admiral in 1882. He died in Washington, DC, in 1891, the only person
in history to be both an Admiral in the Navy and a General in the Army.
The photos of the certified proofs shown here from Alexandria, Memphis
and Nashville are proofs from Series of 1875 plates. Those plates had been
modified by the Bureau of Engraving and Printing from the Original Series
plates turned over to them by the bank notes companies in 1875. Important
for this article is the fact that the plate dates on those plates were not altered, so
you get to see what appeared on the Original Series notes. The only significant
change was the treasury signatures which were those in office when the plates
were modified.
On the other hand, the proof of the New Orleans $5 is an Original Series
proof, so it is an exact replica of the notes issued by that bank during the
Confederate period.
Acknowledgments
The Society of Paper Money Collectors and Long Island Currency
Collectors supported the research leading to the preparation of this article.
Robert Cochran provided the pamphlet written by Tuttle from his collection
of bank histories. James Hughes, curator of the National Numismatic
Collections, Museum of American History, provided access to the Bureau of
Engraving and Printing certified proofs.
References Cited and Sources of Data
Bureau of Engraving and Printing, 1863-1929. Certified proofs of national bank note
face plates. National Numismatic Collections, Museum of American History,
Smithsonian Institution, Washington, DC.
Comptroller of the Currency, 1863-1935. National bank organization reports and
duplicate charters. Record Group 101, U. S. National Archives, College Park,
MD.
Coulter, E. M. W. G. Brownlow. Chapel Hill, NC.: University of North Carolina Press,
1937.
Dean, Charles. "A Confederate national bank note," Paper Money, Jul-Aug, 1996, v. 35,
pp. 142-145.
"Forrest's raid," Harper's Weekly, September 10, 1864.
Garrett, W. R., and A. V. Goodpasture. History of Tennessee. Nashville, TN: Brandon
Printing Company, 1900.
Goodspeed. History of Knox County, Nashville, TN: Goodspeed Publishing Company,
1887.
Richardson, James D. A compilation of the messages and papers of the presidents 1789 - 1897,
volume X. Washington, DC: Government Printing Office, 1899, 677 p.
Tuttle, David H. Since 1864, the Story of Memphis' Oldest Financial Institution: The First
National Bank of Memphis, 1939, 48 p.
THE DESPERADO COUNTERFEITER;
M! OF MYSTERY;
ROBBER AND MURDERER:
MILES OGLE,
Awes
Imoaem W. OGLE, Alias J. F. OGLEsasr,
Alias GEORGE W. WILSON.
176 May/June • Whole No. 249 • Paper Money
Counterfeit National
Bank Note Survives
Its Reported Obituary
by Dr. Jack M. Vorhies (deceased)
WHILE
TRUTH CAN BE STRANGER THAN FICTION,
history is even more interesting than fiction. Such is the case
in the intriguing history of Miles Ogle, a wily 19th Century
counterfeiter, robber, and murderer, shown in Figure lb.
While in custody in 1873, in order to get bail, the audacious Ogle even assured
the U.S. District Attorney that he could help the government put an end to the
crime of counterfeiting in this country.
Ogle is the father of a counterfeit note that surfaced
recently. It is a Series 1875 $10 note from the Muncie
National Bank (Charter #793), shown in Figures 2a and b.
He also counterfeited numerous other notes from Indiana
National Banks. The Richmond National Bank (Charter
#2090), The Lafayette National Bank (Charter #2213), and
the Muncie National Bank (Charter #793) were a trio of notes
cited by the Counterfeit Detector of that period with the cryp-
tic message "Refuse all bearing bank No. 1496, Treasury Seal
165167." The three counterfeit bank notes carried identical
numbers, although they were different banks. Of additional
interest, it seems, Miles came by his talents naturally. His
father, George Ogle, and his brother, John Ogle, also were
counterfeiters.
An article in the Government Counterfeit Detector (Sept. 1879, Vol. XXVI-
II, #4, PP 35-42) John S. Dye Editor, treasury expert and proprietor (Figure
la), details the case. Its cover is shown in Figure 3a. Dye provides a colorful
narrative of the apprehension of Miles Ogle (alias George W. Ogle, alias J.F.
Oglesby, alias George W. Wilson) and the recovery of various stashes of Ogle's
counterfeited monies and plates Figure 3b. It describes the tedious undercover
detective work of Secret Service agents and the procedures they used to trap
Ogle and his accomplice, William Rhodes Johnston, shown in Figure 4, as well
as the counterfeiters' ultimate conviction by an U.S. District Court in
Pennsylvania. The entire article is quoted below. In addition to the counterfeit-
Figure la
1Virr.ki3 OGLE.
Paper Money • May/June 2007 • Whole No. 249 177
ing history provided in this article, you'll enjoy some history of the 19th
Century U.S. criminal justice system's fight against the counterfeiting of our
currency. It is fascinating reading:
THE DESPERADO COUNTERFEITER;
MAN OF MYSTERY;
ROBBER AND MURDERER;
MILES OGLE,
Alias
GEORGE W. OGLE, Alias J.F. OGLESBY,
Alias GEORGE W. WILSON.
The capture and conviction of John Peter McCartney, soon after
the appointment of James J. Brooks to be Chief of the Secret Service
Division of the United States Treasury Department, was the first great
and successful blow in the war of extermination, which that competent
and energetic officer has ever since directed against the allied forces of
the criminal fraternity of American Counterfeiters. When McCartney
was immured in the Indiana state's prison, North, at Michigan City, in
that state, the ablest and most competent coneyman left outside of prison
walls was Miles Ogle, whose desperate life and crafty
adventures with those of his relatives and partners, are the
subject of the succeeding pages.
Miles Ogle was born in 1841, in the state of New
York, of German parentage. The name of his father was
George Ogle and there were two sons, Miles Ogle and
John Ogle, who both followed the same course of life and
appear together in this comprehensive record. The Ogle
family moved West at an early date, being a roving tribe
and first became known to the detectives in the year 1862.
In that year George Ogle the father, procured a flat-boat
and embarking on the Ohio River, at a point near
Cincinnati or further up the stream, with his wife and two
sons Miles and John, started toward the Mississippi on an
expedition in which plunder seems to have been the most
important object.
At Portland opposite Louisville, Kentucky, the fami-
ly party was arrested, but discharged for want of evidence.
At Rockport, Indiana, still further down the river, they
were again suspected of robberies and an attempt was
made to arrest them. As the officer came on board the boat, Miles Ogle, Figure la
then a young fellow about twenty-one years of age, pointed a gun at the
intruder's breast and shot him dead. For this, Miles was sentenced to five
years imprisonment in the Indiana State's prison, South, at Jeffersonville
in that state, a penalty, which the offender fully served out. It must be
supposed there were palliating circumstances in this case, or the extreme
penalty of the law for murder would have at once cut short the criminal
career thus ominously begun.
Having finished his term of five years in the Indiana state's prison,
Miles Ogle proved himself a worthy scholar of the school from which he
graduated. He almost immediately joined the infamous "Reno gang," a
combination of bandits and scoundrels that for years was the terror of all
Southern Indiana and actually subjected and tyrannized over whole coun-
ties in the most audacious and lawless manner. In 1868, Miles Ogle,
Frank Reno and Mike Rogers, were guilty of robbing the safe of the
Treasurer of Mills Co., Iowa, and were convicted and committed to
Sydney Jail in that county, from which they all presently escaped.
Death Claims
SPMC Author
Dr. Jack Vorhies,
1923-2007
It is one of the saddest of
ironies in recent memory that while
this issue was in press with Dr. Jack
Vorhies's article on the reported
demise of his subject matter that the
author, himself, passed away. He
was 84.
The Editor was informed of
this by Vorhies' son
Mark, when Mark
found page proofs of
the present article
among his father's
effects about a week
after the death.
Many oldtimers in SPMC recall
Dr. Vorhies as co-author of the
Society's Indiana Wismer obsolete
volume in 1978 with Wendell
Wolka and Don Schramm.
Wolka, who was currently
working on a CD update of that
book with Dr. Vorhies, recalls his
longtime colleague and friend: "We
were working together, hoping to
have it done this summer. I'm
stunned. He died the day before I
left for Charlotte and I didn't hear
about it until I returned.
"Jack was the collector's collec-
tor, always interested in more than
just the value of a note. Jack was
devoted to the history that sur-
rounded the items he enjoyed col-
lecting and was always willing to
share his knowledge with others.
Please turn to page 180
178 May/June • Whole No. 249 • Paper Money
The Reno gang, beside the Reno brothers who were finally lynched,
included many hard characters, such as Lyle Levi, Jefferson Rittenhouse,
Alike Rogers and others. Lyle Levi was the "boss" shover for Pete
McCartney for a long time and Jeff Rittenhouse was the husband of
Mazura or Missouri Rittenhouse, Lyle Levi's sister and mistress of the
Lyle headquarters at Osgood, Indiana, where McCartney as "the best
friend she had on earth," came often to arrange matters for many a jour-
neying queersman of the time.
It is not at all surprising that McCartney and Ogle should become
acquainted and that in 1868 and 1869, the two worked in partnership,
Ogle residing at Fort Wayne, Indiana, where he engaged in the constant
manufacture of counterfeits of the five dollar United States Treasury
Note, of the greenback variety, issue of March 10th, 1863, and the
Twenty Dollar United States Treasury Note of the greenback variety of
the issue of March 10th, 1862, from plates then just finished by the cleft
hands of "Professor Joseph Woods" in his true character as John Peter
McCartney.
Through his operations in partnership with McCartney, Miles Ogle
became known to the Operatives of the Secret Service Division, the
Treasuiy Department up to that time having but indefinite information
regarding him and his criminalities. Miles Ogle married Ida Johnston, a
daughter of George Johnston, Senior, the son of Charles Rhodes
Johnston, now over eighty years of age. The patriarch Charles lives about
three miles from Indianapolis, Indiana. His on George, was the father of
Charles Rhodes Johnston, 2nd, some thirty-two or thirty-five years of
age; of William Rhodes Johnston, now twenty-five years old; of George
Johnston Jr., aged seventeen, of Ira Johnston aged fifteen and of three sis-
ters, namely: Ida Johnston aged twenty-nine or thirty, now Mrs. Miles
Ogle, Laura Johnston and Lizzie Johnston the two last being some nine-
teen or twenty years old.
During a part of 1869 and 1870, "Pete" McCartney was as has been
recorded in his biography, at Rolla, Missouri, where Miles Ogle also
located with McCartney and did the printing of the counterfeit five dollar
United States Treasury Note, from McCartney's plates already described.
Ogle stole seventy-five thousand dollars of these notes from McCartney
and put them in the hands of dealers and shovers in Cincinnati, Ohio.
McCartney was driven away from Rolla by the intrusion of officers of the
law, as noted in Dye's Government Counterfeit Detector for August 1879,
page forty-second.
The partnership of McCartney and Ogle was broken up, no settle-
ment being effected and Ogle was next seen in Philadelphia Pa., where he
was known to those whose business it was to observe him, as the alleged
manufacturer of counterfeit notes. Still in 1870, a raid was made upon the
place on Seventh Street, where Ogle was said to carry on his criminal
industry. When the Operatives of the Secret Service entered the premises
where the "mill" was supposed to be, they found a press, a marking
machine, ink pot and scraps of bank note paper. The evidence that coun-
terfeiting was carried on there was strong but not positive, meanwhile the
proprietor of the illicit material escaped the vigilance of the Operative
and found green fields and pastures new in a distant part of the common-
wealth.
In 1871, Miles Ogle was arrested under the name of George W.
Wilson, at Pittsburgh, Pa., where an indictment and true bill was found
against him for counterfeiting, in October of that year; the charge against
him being the making and having a plate for printing counterfeits of the
five dollar United States Treasury Notes, and passing bills of that charac-
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Paper Money • May/June 2007 • Whole No. 249 179
ter. The prisoner was admitted to bail and so getting at large, he kept out
of sight and forfeited his bonds, the Honorable Court not having the sat-
isfaction of seeing his countenance for several years.
The fugitive was described as a large stoutly built man, some thirty
years old, six feet high and weighing two hundred and thirty pounds, of
generally prepossessing appearance, with an intelligent look, his speech
slightly Teutonic and his manners those of an educated German. His hair
was a dark brown and inclined to curl, and he wore his whiskers carefully
trimmed around his face. He made a good subject for a picture and the
illustration at the head of this article is a good engraving from an excel-
lent photograph of him. Later he became somewhat intemperate in his
habits, drinking quite freely, a thing, which damaged his looks and
depraved still more his disposition; just as intoxication affects whoever is
betrayed into an infatuation of that kind.
There was a great difference between "Pete" McCartney and Miles
Ogle. The first although exceedingly shrewd and quick-witted, was some-
times reckless, seeming in some cases to almost enjoy being involved in
danger, because of the chance it gave his genius for trickery, bribery and
sharp practice, in getting clear. Ogle as became his German blood, was
more phlegmatic, careful and secretive. The man would have made a
first-class diplomatist, had his destiny called him to such a position.
Something interesting in illustration of his traits of character and method
of management will appear in its proper place farther on in this narrative.
As might have been expected, the whereabouts and whatabouts of
Miles Ogle, for a time after he forfeited his bail at Pittsburgh, Pa., in
1871, have not become matter of official record. From those who were
his comrades in crime and from their customers, comes the very probable
report, that he did not trouble himself with distant travel, but applied his
mind to the same pursuits as before, just as though courts and laws had
become "null, void and of no effect" in his sagacious case.
However on the twelfth of March 1873, Miles Ogle was again
arrested in Philadelphia, Pa.; for having engraved a set of plates for print-
ing counterfeits of the five dollar United States Treasury Notes; for hav-
ing the same in possession and for uttering and publishing counterfeits of
the five dollar United States Treasury Notes. He was taken before the
United States Commissioner and after examination held for trial in
default of twelve thousand dollars bail. May 23rd, 1873, the prisoner was
taken to Pittsburgh, Pa., to be tried on a charge of counterfeiting, under
the name of George W. Wilson, on an indictment already mentioned as
found against him in 1871, on which lie had forfeited his bail.
Figure 2a
180 May/June • Whole No. 249 • Paper Money
Ogle remained in Pittsburgh jail, until October 18, 1873, when hav-
ing surrendered to United States District Attorney Swoope, one set of
copper plates, in four pieces, for printing counterfeits of the five dollar
United States Treasury Notes and a set of steel plates, in two pieces, for
printing counterfeits of the "Spinner Head" variety of the fifty cent Notes
of the United States Fractional Currency, with a large amount of coun-
terfeit money, he was admitted to bail, upon the understanding that he
was to give aid in suppressing the crime in which he had been discovered
to be an expert.
Ogle persuaded District Attorney Swoope that the revelations he
made of the manner of counterfeiting, would enable the government to
put an end to that crime at once and forever, "a consummation devoutly
to be wished," but one even yet unattained, and as appears from recent
developments, as far removed at present as ever. Still that which Ogle
communicated in this way had great value doubtless at the time, and
moreover he pledged himself to assist effectually in the apprehension of
several distinguished counterfeiters and criminals then abroad and active
in various felonies.
Attorney Swoope admonished Ogle to quit his criminal career and
to keep his promises to the authorities, to all of which the culprit faithful-
ly and solemnly pledged himself, whereupon he was released on bail
October 18th, 1873. The information given by Ogle at this time led to
the arrest of several notorious queersmen and reprobates and subsequent-
ly he worked for a considerable time in co-operation with the officers of
the government, but finally withdrew from the honorable association and
was presently again involved in mystery.
Migrating from Pittsburgh, Ogle moved west and took up his resi-
dence first at Cincinnati, Ohio, and next at a place in the country not far
from that city, in the vicinity of a town or village called Cheviot. There
he rented a small farm and kept a country variety store, but whether petty
agriculture and retail trade were sufficient to monopolize his attention
and fully employ his talents, the reader must peruse the succeeding para-
graphs to discover. Chief H.C. Whitley and Col. Snelbaker were at one
time close upon his track, but just as they got him fairly located he took
the alarm and fled to parts unknown. Ogle was again seen in Cincinnati
soon after Bill Mills and Romain Lohrer were sent to the penitentiary,
though not implicated in any new crime.
Sometime about August 1876, there appeared a new counterfeit, of
the denomination of ten dollars, on the Richmond National Bank, of
Richmond, Indiana. Soon after, another counterfeit of the same denomi-
nation was issued, on Lafayette National Bank, of Lafayette, Indiana, and
in November of the same year still another, on the Muncie National
Bank, of Muncie, Indiana. These three counterfeit bills were evidently
from the same plates, the variations in the names of the banks and their
locations being created by artistic changes in the title lines of work.
Experts and Operatives of the Secret Service considered these bills the
handy-work of Miles Ogle, but he was so well under cover that no one
could find him, and so carefully arranged was his method of operations,
that it seemed impossible to discover from what source came the great
quantities of these counterfeit tens which were rapidly thrown into circu-
lation.
A plan was at one time arranged, by which the famous Henry C.
Cole, the counterfeiter, whose record appears in the March issue of Dye's
Government Counterfeit Detector, was to be made instrumental in locating
Ogle, and the history of the expedition as given by Cole himself, affords
an insight into the manner in which Ogle conducted his affairs and defi-
Dr. Jack Vorhies,
1923-2007
Continued from page 178
"The collecting community has
lost a kind person and a true asset."
Wolka added.
According to the Indianapolis
Star, Dr. Vorhies died March 12. He
was a retired orthodontist. Burial was
at Oaldawn Memory Gardens,
Greenwood, IN.
Dr. Vorhies is survived by his
wife of 63 years Georgia, sons Larry,
Brent, Carl and Mark, daughters
Joyce Hickman and Dorothy
Schroeder, and pre-deceased by
another son Scott.
In addition to his numismatic
pursuits, Dr. Vorhies was very inter-
ested in art and history, and sharing
his enthusiasm for these subjects with
his grandchildren.
Dr. Vorhies was also interested in
breeding Charolais cattle at his 1,200
acre ranch in Monroe County. His
bulls were prize winners, and the
ranch was decorated with an 8-foot
limestone statue of an Indian salvaged
from the old Indianapolis court house.
Shreves Philatelic Galleries, Inc.
Sale #72, September 2005, included
Vorhies' collection of revenue
stamped paper essays and proofs, "the
most definitive collection of its kind."
In January 2005 Vorhies donated
200 volumes to ANA, including seven
copies of Heath's Counterfeit Detectors;
Jacob Perkins by Bathe, Dor and
Grenville, and proofs from ABNCo
and BEP. ANA Librarian Nancy
Green called the volumes "a magnifi-
cent addition" to the library.
mlloss str, -0,,, DA 4 $5 1895 Silver Certificate
(4.4 iviG 1111278 I rehee I Iturke
'mit o'in ea %tem VN M5H433409 pp A
Paper Money • May/June 2007 • Whole No. 249
181
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182 May/June • Whole No. 249 • Paper Money
nitely marks his character in more than one respect. Cole declined to take
money from those who urged his departure upon this errand, but under-
stood that he should be protected from unpleasant consequences, if by any
means captured with the disreputable company he sought.
It was known to Cole that one John McKernan, then living as a tav-
ern keeper at number eight-four East Front Street, Cincinnati, Ohio, had
long been a sort of guardian of Miles Ogle, and to him at this time an
application was made. Cole being a first-class coneyman was of course
treated with distinguished consideration, but the manner of his reception
shows but too plainly what would have befallen an ordinary mortal under
similar circumstances, had there been the least occasion given for suspi-
cion of his purpose.
Cole related to confidential parties that having arrived at Cincinnati,
Ohio, and seen John McKernan, he was able after a time, to satisfy those
to whom he was introduced, as to his purpose in seeking Ogle, and was
then taken by night, a long and rough ride over country roads, some forty
miles from the city, to a lonely place which he could not recognize. There
he was admitted into a closely guarded house and introduced to Miles
Ogle in the presence of a number of large, rough looking men, fellows to
whose hands the knives and pistols they carried were as familiar and ready
as their glasses and soup spoons.
Cole confessed himself abashed at the nature of his reception by
such company. He was a brave man, but if ever anyone had reason to be
intimidated, "Harry" C. Cole need not have been ashamed of his uneasi-
ness. It was not his style however to be taken aback by circumstances and
whatever the conditions, did not intend to conduct a business interview
under duress of fear. He took his measures accordingly and the result jus-
tified his coolness and decision.
One of the persons present at the above meeting states that Cole
after the first few minutes of general conversation upon different subjects,
said: "I have come a long and troublesome journey, gentlemen, to reach
this place. My object was to have a little conversation about business with
our friend, Mr. Ogle. I am not in the habit of talking private matters in
the presence of people who are strangers to me. None can have any rea-
son to fear me, I am here alone, a light, weak, delicate, unarmed man. Mr.
Ogle himself could crush my life out between his thumb and finger, in a
moment. Why, then, must all you solid men be around as if like so many
bears and lions, you were but waiting a sign to tear me to pieces and
devour me. If I can see Mr. Ogle alone and confidentially, I will satisfy
him, but I have no business with any crowd, and if I cannot be allowed my
own way, I shall have to take the road back to Cincinnati, whichever
course you send me. But I shall have wasted all my time and expense
money in that case and nobody will be any way better off or richer for my
coming."
The rest of Cole's talk was done to Miles Ogle alone and what was
said between the two, they alone can relate. Neither of them has been
communicative in that respect. When Cole returned from his journey, he
informed those who inquired, that he had seen Ogle; would not say what
he was doing and utterly refused to state where he met him. Cole never-
theless dropped a word of caution, as to the risk incurred by those who
undertook to travel the road he had just been safely over; but beyond this
and a vague hint or two, the distinguished queersman was silent. As unsat-
isfactory as all this was, nothing more seems to have been accomplished
until a change took place in the Management and Operatives of the Secret
Service.
In July 1876, James J. Brooks, became Chief of the Secret Service
,17} JO PiAS, .4.,volanzt)rystr vrix-otizocootr%r.
Paper Money • May/June 2007 • Whole No. 249 183
Division, and soon after the Operatives at Cincinnati, Ohio, were super-
seded by Estes G. Rathbone and F.C. Tuttle, and these two immediately
set sharply to work to rid their district of the ever active counterfeiters
who had so long infested that part of the countiv. On November 22nd,
1876, "Pete" McCartney, "The King of the Koniackers" was arrested at
Richmond, Indiana, and through the energy of Operative Rathbone
immured for fifteen years Wednesday, November 29, 1876, in the Indiana
state's prison, North, at Michigan City.
The next principal party was supposed to be Miles Ogle and much
time and considerable money was spent in efforts to discover his hiding
place. At last it came to the knowledge of the Operatives that Ogle has
been seen to visit the tavern of John McKernan, No. 84 East Front Street,
Cincinnati. They obtained an accurate description of their man from
headquarters and shadowed McKernan's house for more than a month, at
the end of that time their diligence was repaid by a sight of Miles Ogle as
he came to Mckernan's place. When Ogle left the tavern of his old friend,
he was followed to an extensive livery stable kept by "J.F. Oglesby" on the
east side of Freeman Street, between Wade and Liberty Streets in the
same city.
Ogle was then shadowed to a residence Number 242 Poplar Street,
which was found to be occupied by his brother-in-law William Rhodes
Johnston. There Ogle also made his home, at least he was there whenever
it suited his purposes. It was found that J.F. Oglesby the proprietor of the
livery stable on Freeman Street near Wade Street, was none other than
Miles Ogle himself, nor was this the only business in which he was active.
While the officers were shadowing him, he was detected in making sales
of counterfeit money at Brighton flats or Mill Creek bottom and also with
John McKernan at his tavern on East Front Street.
From the first of September 1876, to the 12th of November follow-
ing, he was at his livery stable almost continually. On the last day named
he disappeared. It was afterwards learned that on November 9th, 1876,
Miles Ogle rented a house near the Fair Grounds on Friend Street, at
Columbus, Ohio, where he and his wife remained a number of weeks, but
finally broke up as he assumed to have "business East." His wife presently
sold the household goods and removed to follow the uncertain fortunes of
her husband. It was supposed the Ogles used the Columbus house for
some part of their counterfeiting operations, as several jars, which had
contained chemicals, were found on the premises after their departure.
Early in January 1877, Miles Ogle again appeared at his usual haunts
0* WOmull a
Figure 2b
184 May/June • Whole No. 249 • Paper Money
in the city of Cincinnati. He had been closely shadowed since September
1876, and evidence accumulated sufficient for his conviction for passing
and selling: he could have been arrested any number of times, but the cap-
ture was postponed in order to discover where he made the bills he dealt
in and so secure at once, the man, his tools and machinery, stock in trade
and confederates. Carefully as the watch on Ogle had been kept, he
seemed to have become uneasy and his guardians became apprehensive
lest he should slip away from them after all.
On Saturday evening, January 6th, about five o'clock, Operatives
Rathbone and Tuttle saw Ogle leave his home on Poplar Street, from
which he proceeded up the line of Railroad, across the Timanus Bridge to
Brighton flats or Mill Creek common or bottom not far from Brighton
House near the drove yards at Brighton Station, on the Cincinnati,
Hamilton and Dayton Railroad. Ogle had been traced to Brighton Station
before and was known to have his boodle carriers and customers among
the drovers who congregated at the yards and at the Brighton House.
When Ogle had got well along in his tramp towards Brighton flats,
his brother-in-law William Rhodes Johnston, came out from between two
freight cars of a train, which stood upon the railroad track and joined
company with him. It became evident to the Operatives who followed that
something important was about to occur and their hitherto careful obser-
vation was quickened by absorbing interest. The game had become a deep
one and experts on both sides were engaged in the movements. Ogle
always exceedingly cautious and ever alert, was evidently extra watchful
and in a dangerous mood, while his companion, keen as a weasel,
observed with sharp-eyed care every sign, which might indicate danger.
For all that, like well-trained professionals, they kept up an appearance of
carelessness and to an ordinary observer would have seemed two free and
easy comrades, out on a happy stroll, for exercise, and amusement.
Presently Ogle and Johnston left the railroad track and turned
towards a point on the Common where a large elm tree stood. It was
impossible to follow them further without detection and Rathbone and
Tuttle came to a stand between the freight cars, just as Johnston had hid-
den himself, some few moments before. Daylight was fast turning to dark-
ness and the forms of Ogle and Johnston soon became lost to distinct
view, amid the fast growing shadows of the uncertain landscape.
Obscurity favors concealment, but it favors skilled observation as well and
taking their own method, the Operatives became satisfied the men they
watched, were engaged in the nice business of "raising a plant:" a piece of
work which regardless of the seeming sense of the phrase, has nothing to
do with agriculture or floriculture, but consisted in digging out of the
ground what a plainsman or half-breed Indian would call a "cache" or
deposit of some sort. In this case there was small reason to doubt, that the
package they lifted from their excavation contained counterfeit money or
the means of making the same, very probably both the one and the other
together.
Ogle and Johnston started upon their return, and when they reached
the Railroad once more, Johnston carried a rough looking heavy valise
they had acquired possession of since passing that way some little time
before. The two men were more on their guard than ever and as the
smaller, Johnston, walked on with his burden, the almost gigantic Ogle
strode beside him with a look which gave warning to all who knew him or
mistrusted his business! If Ogle had been a common man, he would have
been arrested then and there, for Rathbone and Tuttle were among the
cars upon the track where he came upon it. But the man who shot an offi-
cer dead on sight, when a mere boy who kept a body guard of cut throats,
ISSUED 110E1'111JY AT $3.00 A YEAR, IN ADVANCE.
ritrABLisima OFIICIAL ORGAN. ri? r *V III.1850.
'kETP"i'ETVIIEFL, Isvvo.
GOVERNMENT
THE LIVE WAR-EAGLE OF WISCONSIN
That ...wed a three years' campaign le thernt
-hellion. Carried by the 8th Wisconsin flegintreot in
tla.nty.flve battles. Thuabove cut presented to
J. 8, Dye, spemIlly for this work, by Hon. J. 0.
r:tribioltilieddrel'pihneNd"bildi bird
OFFICE, 1338 CHESTNUT STREET, OPPOSITE T.1 1. S. MINT.vnax..A3comi.IREELA.,
ItrvI , Irted in the P.O. Dept. at 14,1 eh i Nano D. C., .41 Ind Clara /fatter, for 6001mA:ion throngb the Malls.
Paper Money • May/June 2007 • Whole No. 249 185
as Cole had discovered, was not the character to provoke to a duel, with
man to man, in a locality in which he had more friends by far, than the
officers of the law could hope to rally before somebody was killed. As
manslaughter was not the mission of the Operatives, it is no reflection
upon their courage, but a compliment to their discretion, that they let
their men pass for the time and planned to capture them both alive and
secure the boodle without butchery.
Having managed so as to meet Ogle and Johnston when they came
upon the Railroad and made their own observations, the Operatives sud-
denly became very anxious to escape observation of them in return.
Rathbone and Tuttle got behind the cars and soiled their hands, faces and
clothes, then in the coolest style, began to work at the cars, this way and
that, as if the most faithful and preoccupied of the C.H.D.B. &
O.R.R.Co's lines! Ogle came close upon Rathbone, his hand upon his hip,
but taking the latter for what he seemed to be passed him with but a
glance under which however the Operative though outwardly imper-
turbable, was most keenly conscious of the fine points of the situation.
Ogle and Johnston directed
their steps toward the little Miami
Railroad depot in Cincinnati, to
which they were followed by
Rathbone and Tuttle, the Operatives
taking care that the men they fol-
lowed did not separate or part with
the mysterious valise which they car-
ried. At the depot named, Ogle and
Johnston purchased tickets for
Philadelphia Pa., and presently took
the 8:25 p.m. Pan-Handle train for
Pittsburgh, Pa. The Operatives, once
more transformed, as to appearances,
took the same train with the men
whose wake they had followed thus
far, and in close proximity the four
started on their journey eastward.
It will be remembered that
Miles Ogle had been admitted to bail
by District Attorney Swoope at
Pittsburgh, Pa., October 1873, upon
conditions. These conditions Ogle
had not observed, and his bail he had
forfeited. The circumstances sup-
plied a ready-made "case" against
him and the Secret Service
Operatives were sagacious enough to
know and realize all the advantage to
be gained by a capture in the com-
monwealth of Pennsylvania, especial-
ly as they only surmised the nature of
evidence" they might find upon the
persons of Ogle and Johnston, or in
the valise to which the last party gave
such careful attention.
After the train left Steubenville
Station, which is near the western
State line of Pennsylvania, the
Figure 3a
186 May/June Whole No. 249 • Paper Money
Operatives afterwards described as "an old man and young one"
approached the brakeman and one of them slipping a fifty cent scrip into
his hand, told him to let them know when they crossed the line into
Pennsylvania. The brakeman did as directed when the train had reached a
point near Collin Station, on the P.C. & St. L.R.R., and then Operative
Rathbone, the young man aforesaid, walked over to where Ogle sat apart
from Johnston and extending his right hand as if to an old acquaintance
said in a friendly manner, "How do you do, Mr. Hall."
Ogle extended his hand to shake, when quick as a flash of light,
Rathbone grabbed the proffered palm with his right hand and seized
Ogle's other hand with his left. Ogle struggled to release his left hand,
which he tried to get to his hip for his revolver in his pantaloons pocket.
Though called "young," Rathbone at this time weighed about one hun-
dred and ninety pounds, all meat, and was described as ''just about as full
of pluck as anyone could be." Greek met Greek, but the Operative had
the advantage, and beside was dexterous. When he brought his left hand
into action, it held a nice pair of steel hand-cuffs and before the passen-
gers in the same car realized there was anything uncommon going on,
Miles Ogle was arrested and sitting quietly in irons. It had been a long,
tedious, painstaking, pursuit, but the object warranted the effort, circum-
stances compelled the course taken, and the Secret Service man was nim-
ble enough, when at last the time for precaution was past and the nip and
tuck of the desperate game demanded swiftness and courage.
While this had been going on, Operative Frank C. Tuttle had gone
over to where William Rhodes Johnston was, about four seats to the rear,
and presenting his revolver at the head of the latter with word of com-
mand, "Hands up!" effected his capture without any trouble, by dint of
that plain and simple argument. Johnston, who was a slight, dapper gen-
tleman, submitted to be ironed without opposition, all the more quietly as
he saw his stalwart chief suddenly brought to bay and helpless prisoner in
the hands of the enemy.
The Operatives then searched the person of each of the prisoners.
Ogle was stuffed full of counterfeit money, having a package in every
pocket of his clothes. There was about two thousand dollars of the stuff
upon him, mostly in the Richmond, Lafayette and Muncie ten dollar
counterfeit bills he had been suspected of manufacturing. The Operatives
also took from Ogle a book of bank checks, and when this was found he
said: "You will find a little money there to my credit;" meaning he had
money in the bank named on the checks, and this was the only word he
saw fit to speak during the entire performance. Nothing was found upon
Johnston, except some trinkets of no great value and of no account in any
charge against him.
While the search was going on the train ran into a tunnel and when
it came out one of the passengers found a goodly roll of counterfeit bills
near the seat occupied by Johnston; this money was a package he managed
to throwaway during the moments the train and all concerned were in the
dense darkness of the underground passage. The valise, which had been
dug up at Brighton flats, was found in the hand of Johnston when
Operative Tuttle came upon him as has been related. Johnston saw
Rathbone when he laid hands upon Ogle, and having instructions from his
leader to throwaway the valise in case of arrest, began breaking the win-
dow of the car and would have flung his baggage out upon the roadside
but for the quickness of Tuttle in making the capture. During the entire
proceedings young Johnston spoke never a word, and the observing pas-
sengers sent to the newspapers statements that the four men seemed to
have a perfect understanding of each other and went through the whole
Paper Money • May/June 2007 • Whole No. 249 187
business as if it were a set piece in a drama and had been rehearsed any
number of times.
The search being over and the valise taken possession of, a warrant
for their arrest was read to the prisoners and an Operative sat down beside
each of them until the train arrived at Pittsburgh, Pa., on the morning of
January 8th 1877. Upon reaching the city at the Union Depot, the four
men left the cars quietly and took a carriage up Grant Street to Seventh
Avenue, down the avenue to Smithfield Street and so on the Robinson
House, where they took rooms and having their breakfast sent up to them,
made themselves safe and comfortable for a short time. The newspapers
noted the arrival of the mysterious party and from the sudden activity of
the officials of the United States Court, inferred an affair of importance.
Ogle at once sent for Thomas M. Marshall, Esq., who had been his attor-
ney for five years and had defended him before District Attorney Swoope,
in 1873. To Mr. Marshall both Ogle and Johnston entrusted their case,
having every reason to rely upon his skill and faithfulness in their very
critical circumstances.
The Operatives then ordered a carriage, which having arrived, the
prisoners were taken to Dabb's Photograph Rooms 174 Liberty Street,
where the photographs were taken from which the engravings of Ogle and
Johnston, which appear on these pages, have been reproduced. By about
eleven o'clock a.m., the party with their baggage consisting of one valise
and a quantity of personal effects appeared in the Government Building
and were taken to the office of the United States District Attorney, Henry
H. McCormick, where some important disclosures took place.
The valise, which had been taken with Johnston, was acknowledged
by Ogle to be his property and he tried to create the impression that the
bearer of the same was ignorant of the nature of its contents. It was a stout
valise or satchel, securely tied with cords and coated with asphaltum, to
keep out water. The contents were, a set of plates for printing counterfeit
ten dollar National Bank Notes, on the Richmond, Lafayette, Muncie, Figure 3b
-ork City,
11evi:Yotivtlity„
New ark City
NoviYoiik •City,
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188 May/June • Whole No. 249 • Paper Money
and about forty other National Banks of Indiana. The original Richmond
counterfeit engraved plate was part of the lot, with the border and center
back of the same, the red seal plate and forty-three electrotype plates from
the ten dollar plates, for the numerous changes above mentioned. Also a
set of plates for printing counterfeits of fifty cent Notes of the United
States Fractional Currency, bearing the "Dexter Head;" with fifty-two
electrotypes from the same, for printing such currency in sheets. Beside
counterfeit money of the ten dollar National Bank Notes and fifty cent
currency, to the nominal amount of $5,775.50.
Thus the Secret Service Division was placed in possession of all the
plates for printing counterfeits of ten dollar notes, either of the Treasury
or National Banks. The counterfeit money found in the valise, with that
taken upon the prisoners, amounted to nearly eight thousand dollars.
Soon after the interview with District Attorney McCormick, the prisoners
were taken before United States Commissioner Gamble, where they
waived a hearing and were committed to jail, for trial at the February term
of the United States District Court, in default of $20,000 bail required
from each of them.
Having concluded their business in so satisfactory and prompt a
manner, Operatives Rathbone and Tuttle returned at once to Cincinnati,
Ohio, and arrested John McKernan and his wife Bridget McKernan, the
head of an extensive and long active gang of shovers, old friends of Ogle
and heavy buyers of counterfeit money from him. McKernan was caught
through the discoveries of detective Thomas McGovern, who became
familiar with the Rittenhouse, Levi, Lee, family at Osgood and vicinity
and getting into their dangerous confidence, followed up the business
with such shrewdness and courage, that Operative Rathbone not only was
enabled to lay bands upon all these parties for good cause, but saw them
safely landed at last in prison under various sentences, a few months after
Ogle and Johnston were safe in jail at Pittsburgh.
Ogle when in the hands of Rathbone at Pittsburgh, in order to make
capital and win favor, told that Operative that near where the valise had
been dug up on Brighton flats there was another "plant," he having buried
several thousand dollars of counterfeit money by the old elm tree which
was a feature of that landscape. As soon as they had completed the busi-
ness growing out of the arrest of the McKernans and their party,
Rathbone and Tuttle went out to Brighton flats and located the plant
from the directions they had received. There was however an overflow at
the time from Mill Creek, over the flats, which prevented them from dig-
ging thereabout. When the flood subsided they went out again, but this
time the sod was hard frozen. They however secured the services of an
expert--with a pickaxe, in an Irishman from McLean Avenue, who after
considerable hard work, dug up a sealed tin bucket and a large can. The
spot where these were found was about half a mile north of Brighton
Station, near the Cincinnati, Hamilton and Dayton Railroad tracks.
The Operatives at once took possession of the bucket and can and
prepared for a return to town, paying the laborer a dollar for his trouble.
They had parried the Irishman's inquisitiveness by the statement that
there were great quantities of jewelry buried there and when the deposit
was actually found, the mind of the laborer was fairly upset. He would not
leave his employers, but demanded a half of the treasure trove. The
Operatives then told him in good faith, the bucket and can contained
counterfeit money. This imaginative son of Erin utterly refused to believe
and insisted that he was entitled to at least one-quarter of the prize, what-
ever its character. To satisfy him, the Operatives advised the Irishman to
leave his tools in a safe place and come to headquarters with them and see
I
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190 May/June • Whole No. 249 • Paper Money
the bucket and can opened, which he agreed to do, still insisting upon the
injustice done him by their refusal to make a division in the matter. He
started to accompany them and at Harrison Avenue they got in Number
18 green car of the Baymiller Street line of horse cars, while he went into
a bar room, as the Operatives supposed to leave his pick and shovel for
safe-keeping.
In a moment the car started down town and was followed by a big
burly policeman named John Shatzman, who boarded it and taking a seat
alongside of Rathbone demanded in a very authoritative tone, to know
what was in the tin vessels between his feet. The Operatives told him the
facts and showed him their commissions; Shatzman was inexorable how-
ever and insisted upon taking them before Superintendent of Police
Colonel Wood. The Operatives thought fit to be "taken in" and at the
Ninth Street Station House, took their bucket and can to a safe place and
opened them before Colonel Wood, when they were found filled with
counterfeits of the fifty cent Notes of the United States Fractional
Currency of the "Dexter Head" Series. Of course the Operatives were at
once courteously dismissed and taking their prize to headquarters
found they had $8,541.00 of fifty cent currency notes of the Ogle
manufacture; the same having been buried by him. This last find
raised the amount of counterfeit money taken with Ogle, to
$14,316.50. In all one hundred and ten counterfeit plates were
captured in the same connection and over three hundred persons
criminally implicated and brought to punishment first and last.
The Grand Jury found true bills against Miles Ogle and
William Rhodes Johnston, charging them with having in posses-
sion the counterfeit plates and money already described and a time
was fixed for the trial, which took place at the February, 1877,
Term of the District Court of the United States for the Western
District of Pennsylvania, held at Pittsburgh. The case was one of
peculiar interest and one of the most important of its kind ever
tried. His Honor Judge Winthrop W. Ketchum presided at the
sessions; Henry H. McCormick, United States District Attorney
and Assistant United States District Attorney George C. Wilson,
conducted the prosecution; while Thomas M. Marshall, Esq.,
appeared for the defendants.
The case was opened for the government, by Assistant
District Attorney Wilson, who stated to the jury what he expected
Figure 4 to prove. Estes G. Rathbone Operative of the Secret Service, was the first
witness called; Frank C. Tuttle also an Operative of the Secret Service was
next examined. Being sworn, these witnesses testified substantially to the
facts of the arrest of Ogle and Johnston as detailed in the forgoing pages.
The case of Ogle was hopeless from the beginning, but Mr. Marshall
made the best terms possible for such a hardened offender and tried faith-
fully to clear the young man Johnston. On February 23rd, 1877, Miles
Ogle was found guilty of the charge against him, and sentenced to con-
finement at hard labor in the Western Penitentiary, at Allegheny, Pa. for
the term of eight (8) years and to pay a fine of eight thousand dollars
($8,000). William Rhodes Johnston was convicted and sentenced to two
years imprisonment and to pay a fine of two thousand dollars ($2,000).
We can speculate that Miles Ogle's ten-dollar counterfeit note from the
Muncie National Bank (Figure 2a) may have been part of a cache discussed in
this article. Perhaps it was among the $5,775.50 in counterfeit notes that he and
his accomplice dug from the ground near the large elm tree and carried in the
• h..2.--to sgus.
7OPPQ
67PPQ
Paper Money • May/June 2007 • Whole No. 249
PCGS Currency
Grading Matters!
191
Fr. 1513 1963 $2 Legal Tender Note Fr. 2039-B* 2004A $10 Federal Reserve Note Fr. 2300' 1935A $1 Hawaii Silver Certificate
PCGS Superb Gem New 69PPQ PCGS Perfect New 7OPPQ PCGS Superb Gem New 67PPQ
Realized $373.75 Realized $977.50 Realized $5,750.00
Fr. 2301 1934 $5 Hawaii Federal Reserve Note Fr. 2307' 1934A $5 North Africa Silver Certificate Fr. 2404 1928 $50 Gold Certificate
PCGS Superb Gem New 68PPQ PCGS Gem New 66PPQ PCGS Superb Gem New 67PPQ
Realized $4,887.50 Realized $5,175.00 Realized $12,650.00
These notes are truly exceptional pieces of currency, and the
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192 May/June • Whole No. 249 • Paper Money
waterproof satchel to the railroad train they boarded in Cincinnati. They were
arrested, with the satchel, after the train entered Pennsylvania. This ten-dollar
counterfeit note could have been among the estimated $2,000.00 found stuffed
in Ogle's pockets. Or the passenger who found the ejected evidence might have
pilfered a single bill from the large roll found on the floor near Johnston's seat
after the railroad car emerged from a tunnel. There are many possibilities of
how this note evaded the ultimate destruction of Ogle's counterfeit products.
We can't solve the mystery, but it is interesting to speculate. The single Muncie
National Bank counterfeit Series 1875 $10.00 National Banknote is now hidden
in an envelope, attached to a page of the bound Government Counterfeit Detector
(Sept 1879 Vol. XXVIII, #4).
This document of 1879 has served as an Obituary for these counterfeit ten
dollar notes. Thanks to the Secret Service. Our imagination can only embellish
what history of interest has taken place in the intervening One Hundred and
Thirty Years.
Response to Letter to the Editor in re. Stephen Zarlenga's article
Dear Editor Reed,
Mr. Stephen Zarlenga authorized this response to a letter to the editor written by R. Shawn Hewitt and published in
the Nov/Dec issue of Paper Money. As a student of monetary history and a collector of paper money I wanted to make these
comments. First, Mr. Hewitt is right in saying that Fed cannot take the full blame for multi-factorial social ills like child
mortality and arms proliferation. The financial system (in which the Fed plays a big part) cannot be ignored either when it
comes to social questions, but these postulations are probably better discussed in a different forum.
This issue aside, I would argue that Zarlenga's article on the Federal Reserve and his thesis statement that this organi-
zation is controlled privately is absolutely appropriate for scholarly dialog [i.e. in places like Paper Money]. We challenge
anyone (in an academically-spirited way) to make the case that the Fed is part of the U.S. Government directed by
Congress. Critical comments on articles posted on our website and on Stephen Zarlenga's major work The Lost Science of
Money are always welcome. Having attended two AMI conferences with expert presenters from all over the world, I can
assure this readership of the utmost credentials of our organization.
As a collector of Federal Reserve Notes, I am fascinated that in 1929 three different types of notes with different
obligations were circulating at the same time. I am fascinated that a note's artwork in the form of national imagery is
designed to instill confidence in the people, because in times past, the people did not "trust" paper money. I view paper
money as a contract -- a promise to pay. I collect paper money as evidence of political and financial history as it relates to
the average citizen in his/her everyday transactions.
I would like to acknowledge that without paper money, the economics that allowed advancements in technology and
civilization would never have taken place. Paper money is one of the most important instruments of civilization and its use
and issuance should be understood by all citizens of a democratic nation.
Respectfully submitted, -- Matthew Hajzl, AMI member
To which Stephen Zarlenga adds:
The root problem in our money system leading to the skewed distribution of wealth is not fiat money, as the gold
enthusiasts would tell us: The problem is the private issue of fiat money, a process which takes place under the control of
the Federal Reserve's fractional reserve system.
-- Stephen Zarlenga, AMI director
Currency Conservation & Attribution LLC
To learn more about this holder:
• go to www.csacca.com
• email us at info©csacca.com
• or mail us at CC&A LLC, P.O. Box 2017, Nederland, CO 80466
CC&A
Paper Money • May/June 2007 • Whole No. 249
193
$5 Series of 1882
Circus Poster
National Bank Notes
T
HE MOST DESIRABLE LAYOUTS ON
$5 Series of 1882 national bank notes are
the circus posters, which consistently bring
record prices. Circus posters were issued
from 50 different banks. One of those, charter 3779 in
Kansas, moved, and by chance got a second circus
poster, giving it the distiction of being the only bank in
the ountry to issue circus posters from two towns.
The Paper Column
BY PETER HUNTOON
WITH DOUG WALCUTT (DECEASED)
AND ROBERT KVEDERAS
'•;41-71.
Definition
The first known use of the term "circus poster" is shrouded in history.
IATherever the evocative term came from, it quickly caught on and gained wide-
spread usage. Now people have taken to arguing over exactly what constitutes a
circus poster!
The classic definition for a circus poster applies to title block layouts
made from Bureau of Engraving and Printing die 947. We are calling this CP1.
This design was first introduced in 1886, on a plate made for The Patapsco
National Bank of Ellicott City, Maryland (#3585), certified December 7th.
This also was the first plate to utilize in-line treasury signatures.
Die 947 employs three very characteristic elements. The most eye catch-
ing is the sweeping, arched, banner-like "National Bank" above the tombstone.
CP1
CP2
/1°' UrKith-TPATLLEtkm 1.0 rer
CP3
yllil BIL
(;‘). zeii1/05.,3,4yer, (;ft, .
194 May/June • Whole No. 249 • Paper Money
Comparison between the three circus
poster layouts. CP1 is an impression
from die 947, CP2 is from die 2451,
and CP3 is from a proof of the note.
Also distinctive is the elegant tombstone containing the town, with cap above
containing "of." Last but not least is the will pay line with "Will Pay/the
Bearer/on Demand" in three evenly stacked, downward bowed lines to the left
of the ornate rendering of "Five Dollars."
Die 947 was used early in 1887 to produce a plate for The National Park
Bank of Livingston, Montana Territory (#3605); however, owing to the title, the
National Bank banner was replaced by a rather prosaic looking curved rendering
of "Park Bank." We doubt that anyone would reject this less elegant example
from the circus poster club. However, it doesn't have the National Bank ban-
ner, so our definition cannot rigorously require all three of the defining charac-
teristics in every case!
The classic circus poster layout was modified on die 2451 in 1894. AVe are
calling this CP2. The first use was for The Commercial National Bank of
Charlotte, North Carolina (#2135), on a plate certified January 15th. The
National Bank banner was preserved, being the most distinctive feature on the
circus poster layouts, but with an added candlestick-like embellishment to its
right. The word "of" was removed from the cap above the tombstone, and the
cap was filled with uniform vertical lines. The "of" appears within a sheaf of
wheat to the left, so is easier to read than on CP1. The greatest alteration is the
streamlined will pay clause below the tombstone in which the words "Will pay
FIVE DOLLARS to Bearer" appear in a horizontal line, with a curved "on
demand" centered below.
CP2 has been called the poor man's circus poster. It was used on the
plates for only four banks.
Paper Money • May/June 2007 • Whole No. 249 195
Matt Janzen wins 7th George Wait Memorial Award
/GATT JANZEN HAS BEEN NAMED THE RECIPIENT OF
the 2007 George W. Wait Memorial Prize for paper money
r esearch. His project is Wisconsin National Bank Notes, an
ongoing census now up to 10,223 note serial numbers, sum-
maries and photos based on seven years of direct observation.
Janzen's prize is worth $500, the contest maximum. Past
recipients include four individuals and one group to be honored
with the Wait Memorial Prize. Each received the maximum
award. 1st annual Wait winner was Robert S. Neale for a book
on antebellum Bank of Cape Fear, NC. The 2nd went to
Forrest Daniel for a manuscript on small size War of 1812
Treasury Notes, publication of which is pending. Gene Hessler
was honored for a book on international bank note engravers
that earned accolades. R. Shawn Hewitt and Charles Parrish
received their prize for a book on Minnesota obsolete notes &
scrip (which just happens to be reviewed on page 228), and
Michael Reynard last year for a book on check collecting. In
some years no prize was awarded.
The Wait Memorial contest was instituted by the Society
to honor the life & works of SPMC charter member and vision-
ary George W. Wait. The contest is open to all persons engaged
in research on paper money, banking and related fields leading
to publication of a book-length work. Applicants need not be
members of the Society, but are encouraged to become one.
Rules for the 2008 contest will appear in our Nov/Dec 2007
issue of Paper Money.
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: Marblebert@aol.com
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196 May/June • Whole No. 249 • Paper Money
The only appearance of CP3 was in November 1895, on a plate made for
The Live Stock National Bank of Sioux City, Iowa (#5022). This die incorpo-
rated most of the elements on CP1. "Of" was moved to a conspicuous position
to the right of the National Bank banner, allowing the cap above the tombstone
to be all but eliminated, so that the tombstone could rise. Most obvious is the
elegant shingled rendering of "Will Pay/the Bearer/on Demand" to the left of
"Five Dollars."
Use
Circus poster plates were made for the following situations: (1) first plates
ordered for new banks, (2) first plates ordered for extending banks, (3) replace-
ment plates macle to succeed plates with earlier patent letter layouts which were
being purged, and (4) replacement plates made to succeed worn plates. Once a
circus poster layout was adopted for a bank, successive replacements, territorial
to state conversions, and brown back to date back conversions, continued to uti-
lized the circus poster layout.
Bank officers did not get to choose the layouts on their plates. That was a
decision made at the Bureau of Engraving and Printing. The grand circus
poster layouts discussed here were simply one of several layouts available at the
time. Consequently, it was luck of the draw for a bank to receive a circus
poster.
A magnificent example of an
issued circus poster $5 Series
of 1882 brown back. This one
sports the classic CP1 design.
(Photo courtesy of Robert
Kotcher)
Purged Title Blocks
The circus poster plates listed on Table 1 followed by the comment
"replaced earlier layout," were substitutes for plates with patent lettering lay-
outs made during the 1882-5 period. Patent lettering refers to lettering in the
title blocks made from proprietary engraving machines sold to, or licensed to,
the Bureau of Engraving and Printing. These machines could engrave letters
on a die in an infinite variety of fonts.
The workmanship at the Bureau of Engraving and Printing was under
intense fire in the early to mid 1880s. The criticism was reaching Congressmen
and others in influential positions, and generating a bit of heat. The primary
source for the discontent was none other than the private bank note companies,
and their engravers, who no longer were getting government contracts to
design, engrave and print national bank notes. The last of those contracts had
terminated in 1877, causing bitter resentments.
The faces of the new $5 Series of 1882 notes, many with patent lettered
layouts, were particularly reviled because the $5 was entirely of a BEP design.
The patent lettered title blocks on them were dismissed as being mechanically
produced, and thus inferior to engraved work.
Bureau personnel came to consider the patent lettering work inartistic and
inferior. Consequently, the plates containing the patent letter title layouts
•began to be replaced beginning about the middle of 1887. Not by coincidence,
Paper Money • May/June 2007 • Whole No. 249 197
Table 1. $5 Series of 1882 plates with circus poster title block layouts arranged in order of plate certification dates.
CP1 Circus poster with Will Pay lines stacked evenly one above the other.
CP2 Circus poster with "Will pay FIVE DOLLARS on Demand" on one line.
CP3 Circus poster with Will Pay lines elegantly stacked so each line is offset from the one above.
Placements
Type Ch Town & State Cert Date Plate Date Plate Ltrs
CP1 3583 Ellicott City, MD 07 Dec 86 05 Nov 86 A B C D
CP1 3591 Jewell City, KS 07 Dec 86 18 Nov 86 A B C D
CP1 3594 Medicine Lodge, KS
15 Dec 86 30 Nov 86 ABCD
CP1 3595 Shreveport, LA 16 Dec 86 03 Dec 86 ABCD
CP1 3598 West Newton, MA 22 Dec 86 08 Dec 86 A B C D
CP1 3600 Shreveport, LA 23 Dec 86 09 Dec 86 A B C D
CP1 3602 Fargo, DT 05 Jan 87 14 Dec 86 A B C D
CP1 3604 Philadelphia, PA
05 Jan 87 17 Dec 86 A B C D
CP1 3605 Livingston, MTT 11 Jan 87 18 Dec 86 A B C D
CP1 3607 Ashland, WI 14 Jan 87 21 Dec 86 A B C D
CP1 2747 Michigan City, IN 22 Jan 87 11 Jul 82 ABCD
(see: Michigan City 28 Jan 87)
CP1 3614 Sparta, TN 24 Jan 87 05 Jan 86 A B C D
CP1 3616 Rock Hill, SC 27 Jan 87 11 Jan 87 A B C D
CP1 2747 Michigan City, IN 28 Jan 87 11 Jul 82 EFGH
CP1 3619 Beaver City, NE 07 Feb 87 17 Jan 87 A B C D
CP1 3621 Atlantic City, NJ 11 Feb 87 20 Jan 87 A B C D
CP1 3629 Piedmont, WV
26 Feb 87 01 Feb 87 A B C D
CP1 3634 Fort Smith, AR 03 Mar 87 07 Feb 87 A B C D
CP1 3639 Cincinnati, OH 09 Mar 87 23 Feb 87 A B C D
CP1 3641 Kaukauna, WI 18 Mar 87 24 Feb 87 A B C D
CP1 3647 Chicago, IL 26 Mar 87 12 Mar 87 A B C D
CP1 3648 Grass Valley, CA
01 Apr 87 16 Mar 87 A B C D
CP1 3649 Pratt, KS 02 Apr 87 16 Mar 87 A B C D
CP1 3651 Tyler, TX 05 Apr 87 21 Mar 87 A B C D
CP1 3085 Philadelphia, PA 02 Jul 87 01 Dec 83 E F G H
CP1 3059 North Bend, NE
30 Jul 87 28 Sep 83 E F G H
CP1 3332 Jackson, MS 03 Aug 87 10 Apr 85 E F G H
CP1 2809 Frankfort, KS 10 Aug 87 03 Nov 82 E F G H
CP1 367 Augusta, ME 23 Aug 87 25 Feb 83 E F G H
CP1 3763 Renovo, PA 24 Aug 87 28 Jul 87 A B C D
CP1 3765 Greenville, MS 26 Aug 87 28 Jul 87 A B C D
CP1 3769 Alma, KS 26 Aug 87 03 Aug 87 A B C D
CP1 653 Yonkers, NY 31 Aug 87 10 Dec 84 E F G H
CP1 167 Geneva, NY 01 Sep 87 01 Nov 82 E F G H
CP1 426 Fox Lake, WI 06 Sep 87 25 Feb 83 E F G H
CP1 3779 1 Scandia, KS
06 Sep 87 23 Aug 87 A B C D
CP1 2830 Canton, DT 08 Sep 87 02 Dec 82 E F G H
CP1 964 New York, NY 12 Sep 87 08 Dec 87 E F G H
CP1 3072 Clay Center, KS 27 Sep 87 05 Nov 83 E F G H
CP1 748 Montpelier, VT
21 Oct 87 23 Dec 81 A B C D
CP1 283 St. Louis, MO
31 Oct 87 25 Feb 83 E F G H
CP1 134 Providence, RI 07 Nov 87 25 Feb 83 E F G H
CP1 6 Syracuse, NY 11 Nov 87 25 Feb 83 E F G H
CP1 206 Elkhart, IN 14 Nov 87 14 Aug 82 E F G H
CP1 221 Portland, ME
14 Nov 87 25 Feb 83 E F G H
CP1 209 Omaha, NE 14 Nov 87 01 Jan 83 E F G H
CP1 3884 Green Bay, WI
31 May 88 17 May 88 A B C D
CP1 3602 Fargo, ND 05 Apr 90 02 Nov 89 A B C D
CP1 3605 Livingston, MT 18 Apr 90 08 Nov 89 A B C D
CP1 2830 Canton, SD 03 Nov 90 02 Nov 89 E F G H
CP2 2135 Charlotte, NC 15 Jan 94 17 Feb 94 A B C D
CP2 3779 2 Belleville, KS 15 Mar 94 15 Jan 94 ABCD
CP2 2144 Martinsburg, WV 24 Apr 94 01 May 94 A B C D
CP2 2153 Fitchburg, MA
27 Apr 94 18 Apr 94 A B C D
CP3 5022 Sioux City, IA 08 Nov 95 16 Oct 95 A B C D
CP1 134 Providence, RI
06 Aug 98 25 Feb 83 I J K L
CP1 3629 Piedmont, WV 13 Dec 01 01 Feb 87 E F G H
CP2 2153 Fitchburg, MA 14 Mar 04 18 Apr 94 E F G H
CP2 2135 Charlotte, NC 11 Sep 08 17 Feb 94 E F G H
CP3 5022 Sioux City, IA 12 Sep 08 16 Oct 95 E F G H
CP2 2153 Fitchburg, MA 02 Oct 08 18 Apr 94 IJKL
Letters Logo Sigs
in in upper right
in line
in in upper right in line
in out
upper right in line
in out upper right
in line
in out upper right in line
in out upper right in line
in out upper right in line
in out upper right in line
in out
upper right in line
in out upper right in line
in out upper right in line
in out upper right in line
in out upper right in line
in out
upper right in line
in out upper right in line
in out bottom center
in line
in out bottom center in line
in out bottom center in line
in out bottom center in line
in out bottom center in line
in out bottom center
in line
in out bottom center in line
in out bottom center
in line
in out bottom center in line
in out
bottom center stacked
in out bottom center in line
in out bottom center in line
in out
bottom center in line
in out bottom center in line
in out bottom center in line
in out bottom center in line
in out
bottom center
in line
in out bottom center in line
in out bottom center
in line
in out bottom center in line
in out
bottom center in line
in out bottom center
in line
in out bottom center in line
in out bottom center in line
in out
bottom center in line
in out bottom center in line
in out bottom center in line
in out
bottom center
in line
in out bottom center
in line
in out bottom center in line
in out bottom center in line
in out bottom center in line
in out upper right
in line
in out upper right
in line
in out
bottom center
in line
out out bottom center in line
out out bottom center
in line
out out bottom center
in line
out out bottom center in line
out out bottom center in line
out out bottom center in line
out out bottom center in line
out out
bottom center
in line
out out bottom center
in line
out out bottom center in line
out out bottom center in line
Treasury Signatures
Rosecrans Jordan
Rosecrans Jordan
Rosecrans Jordan
Rosecrans Jordan
Rosecrans Jordan
Rosecrans Jordan
Rosecrans Jordan
Rosecrans Jordan
Rosecrans Jordan
Rosecrans Jordan
Bruce Gilfillan
Rosecrans Jordan
Rosecrans Jordan
Bruce Gilfillan
Rosecrans Jordan
Rosecrans Jordan
Rosecrans Jordan
Rosecrans Jordan
Rosecrans Jordan
Rosecrans Jordan
Rosecrans Jordan
Rosecrans Jordan
Rosecrans Jordan
Rosecrans Jordan
Bruce Wyman
Bruce Wyman
Bruce Wyman
Bruce Gilfillan
Bruce Gilfillan
Rosecrans Hyatt
Rosecrans Hyatt
Rosecrans Hyatt
Bruce Wyman
Bruce Gilfillan
Bruce Gilfillan
Rosecrans Hyatt
Bruce Gilfillan
Bruce Wyman
Bruce Wyman
Bruce Wyman
Bruce Gilfillan
Bruce Gilfillan
Bruce Gilfillan
Bruce Gilfillan
Bruce Gilfillan
Bruce Gilfillan
Rosecrans Hyatt
Rosecrans Huston
Rosecrans Huston
Rosecrans Huston
Tillman Morgan
Tillman Morgan
Tillman Morgan
Tillman Morgan
Tillman Morgan
Bruce Gilfillan
Rosecrans Jordan
Tillman Morgan
Tillman Morgan
Tillman Morgan
Tillman Morgan
Comments
error wrong plate letters
replaced earlier layout
replaced earlier layout
replaced earlier layout
replaced earlier layout
replaced earlier layout
replaced earlier layout
replaced earlier layout
replaced earlier layout
replaced earlier layout
replaced earlier layout
replaced earlier layout
replaced earlier layout
replaced earlier layout
replaced earlier layout
replaced earlier layout
replaced earlier layout
replaced earlier layout
replaced earlier layout
altered to state plate
altered to state plate
altered to state plate
replacement plate
replacement plate
replacement plate
altered to date back
altered to date back
altered to date back
oa.
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198 May/June • Whole No. 249 • Paper Money
What better brown back $5
to represent the capital of
Vermont than this circus
poster.
The quaint but beautiful
patent lettering plate for
Omaha was replaced by one
with a circus poster layout
because it was judged to be
inartistic and inferior.
many were replaced by circus posters upon which the BEP engravers had gone
all out to demonstrate their capabilities.
In general, the patent lettered layouts look very quaint. Ironically, some
of those replaced by circus posters are now' considered to be among the most
spectacular of the genre, and are highly sought! Pairs of notes from the same
bank sporting both layouts are ultimate prizes, and represent miracles of sur-
vival.
Scandia/Belleville Move
More banks in Kansas than any other state got circus poster layouts. One
of these was The First National Bank of Scandia, Kansas (#3779), chartered in
August 1887, which was given a CP1. Scandia is situated on the east bank of
Harlan J. Berk, Ltd.
"The Art & Science of Numismatics"
31 N_ Clark Street
Chicago, IL 60602
312/609-0016 • Fax 312/609-1305
Www.harlanjberk.com
e-mail: info@harlanjberk.com
Full-Service Numismatic Firm
Your Headquarters Jrn
All Your Collecting Needs
PNG • I A PN • ANA SANS NI,G • SPA: • PCDA
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" $22.50 $40.50 $180.00 $320.00
Colonial 5-1/2" x 3-1/16" $23.00 $42.00 $195.00 $350.00
Small Currency 6-5/8" x 2-7/8" $23.50 $45.00 $200.00 $375.00
Large Currency 7-7/8" x 3-1/2" $26.50 $49.50 $220.00 $410.00
Auction 9 x 3-3/4" $29.00 $53.00 $250.00 $450.00
Foreign Currency 8 x 5 $33.00 $60.00 $275.00 $485.00
Checks 9-5/8 x 4-1/4" $33.00 $60.00 $275.00 $485.00
SHEET HOLDERS
SIZE INCHES 10 50 100 250
Obsolete Sheet
End Open 8-3/4" x 14 - 1/2" $20.00 $88.00 $154.00 $358.00
National Sheet
Side Open 8-1/2" x 17-1/2" $21.00 $93.00 $165.00 $380.00
Stock Certificate
End Open 9-1/2" x 12-1/2" $19.00 $83.00 S150.00 $345.00
Map & Bond Size
End Open 18" x 24" $77.00 $345.00 $625.00 $1425.00
You may assort note holders for best price (min. 50 pcs. one size). You may
assort sheet holders for best price (min. 10 pcs. one size).
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
See Paper Money for Collectors
www.denlys.com
Paper Money • May/June 2007 • Whole No. 249
199
I Collect
FLORIDA
Obsolete Currency
National Currency
State & Territorial Issues
Scrip
Bonds
Ron Benice
4452 Deer Trail Blvd.
Sarasota, FL 34238
941 927 8765 Benice@Prodigy.net
• Ilia • II.
Carl Bambara
United States Currency
R.O. so. 524
Tork . r4 '11116-:-.C;',A
I Ltilltj
P .Nane 2' 2 989 41
Always Wanted
Monmouth County, New Jersey
Obsoletes - Nationals - Scrip
Histories and Memorabilia
Allenhurst - Allentown - Asbury Park - Atlantic Highlands -
Belmar - Bradley Beach - Eatontown - Englishtown -
Freehold - Howell - Keansburg - Keyport - Long Branch -
Manasquan - Matawan - 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
rim
II li,1101111.
Vilin4 'etizI 15,1. ::17.e:cRcgtrdnitoZE.Q;,r1/4-atego.
ITED STATES
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200 May/June • Whole No. 249 • Paper Money
A CP1 layout was used on
the $5 plate for The First
National Bank of Scandia,
Kansas. A CP2 was used on
the second plate after the
bank moved to Belleville,
the only case in the country
where a bank with two titles
received circus posters on
each.
the Republican River in north central Kansas. The bank came in along with a
flood of other small town Kansas banks because Kansas was being rapidly set-
tled then.
Early president J. R. Caldwell and cashier W. H. Laney hand-signed and
paid out minute numbers of circus posters across their counter, or loaned them
to support a tiny circulation that hovered about $11,250. All that the bank
received between 1887 and 1894 were 1,457 sheets of 5-5-5-5 Series of 1882
brown backs. More than half of those were replacements for notes that wore
out in circulation.
Business wasn't so hot in Scandia, and president Caldwell had difficulty
keeping cashiers. Laney was replaced by W. W. Wood in 1893, and he in turn
was replaced by D. D. Bramwell in 1894. Caldwell and Bramwell eyed develop-
ing Belleville, the county seat, five miles east and a bit north, situated in sub-
dued rolling hills away from the Republican River.
They moved their bank in 1894 to Belleville, renaming it The National
Bank in the process. The move was approved January 15, 1894, by Comptroller
of the Currency James Eckels. A new Series of 1882 $5 plate was prepared for
the bank that sported the new title and location.
Unprecedented was that the new plate was also a circus poster, this one a
CP2! The National Bank of Belleville also went on to issue $10 and $20 Series
of 1882 brown backs from a 10-10-10-20 plate, but the title layouts found on
them aren't out of the ordinary. The numismatic prizes were the CP2 $5s.
Only 1,488 sheets of them were sent to the bank, just a few more than the CPIs
shipped to Scandia.
Michigan City Error
A 5-5-5-5 CP1 replacement plate was made for The First National Bank
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Paper Money • May/June 2007 • Whole No. 249 201
of Michigan City, Indiana (#2747), to succeed one with a patent letter layout
dating from August 1882. The new plate was certified January 22, 1887, and
should have been lettered E-F-G-H; however, by mistake it was lettered A-B-
C-D. Someone noticed the error prior to production, so the plate was relet-
tered and recertified on January 28th.
Variations Between Circus Posters
There were distinct evolutionary trends in the circus poster designs. The
varieties progressed from CP1 to CP3 without overlaps. The earliest certifica-
tion of a new CP1 plate was December 7, 1886, and the last May 31, 1888.
Forty-six banks used the CP1 design. Use of CP2 ranged from January 15
through April 27, 1894, for four banks. The lone CP3 was certified November
8, 1895.
TiL'-1 1.1D
The patent lettering A-B-C-
D plate for Michigan City,
Indiana, made in 1882, was
replaced by a CP1 that was
certified January 22, 1887.
However, the CP1 plate also
was lettered A-B-C-D in
error, so it had to be relet-
tered The altered
plate was certified January
28th.
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202 May/June • Whole No. 249 • Paper Money
A town name like Kaukauna
deserved a circus poster lay-
out.
This Fargo layout was
among the first of the CP1
layouts. Here they experi-
mented with the tombstone
by using black letters on a
white background for Fargo,
and by omitting the spiral to
the left of Fargo.
The only bank in California
to use a circus poster layout
was The First National Bank
of Grass Valley.
There was experimentation with the layout of the town name within the
tombstones on the first seven CP1 plates, after which three standards were
adopted: (1) white letters on a solid black background; (2) white letters on a
background grading from solid black on the left to gray on the right; and (3)
white letters on a fine grid of closely spaced horizontal lines.
Only two fonts with varying degrees of condensation were used in the
standard tombstones, one with simple open letters with serifs, and the other
with open letters that had two equally spaced ornamental scallops cut from the
sides of the letters. All the letters were upper case.
The first six plates incorporated a spiral embellishment inside the left end
of the tombstone above the will pay clause. The spiral originally appeared on
Deal with the
Leading Auction
Company in United
States Currency
Fr. 379a $1,000 1890 TN.
Grand Watermelon
Sold for
$1,092,500
• •
t
a1R
aft * reittuntimutU, rVIM 1.1.1” •
1.7 -----
Fr. 183c $500 1863 L.T.
Sold for
$621,000
Fr. 128 $50 1880 S.C.
Sold for
$287,500
Paper Money • May/June 2007 • Whole No. 249 203
Currency Auctions
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
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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:
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P.O. Box 7364, Overland Park, KS 66207-0364
We strongly recommend that you send your material via CSPS Registered Mail insured for its
full 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.
C an CXnight
Currency Auctions
800-243-5211 - 913-338-3779 - Fax 913-338-4754
lyn@Jynknight.corn - supportOjynknight.com
Whether you're buying or selling, visit our website: www.lynknight.com
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May/June • Whole No. 249 • Paper Money204
The Patapsco National Bank
of Ellicott City, Maryland,
utilized the first circus
poster plate. The plate was
certified December 7, 1886,
and also was the first $5
Series of 1882 plate to uti-
lize in-line treasury signa-
tures.
The distinctive banner con-
taining National Bank was
dropped from this modified
CP layout in order to
accommodate the bank
name.
The spiral to the left of the
town name is preserved
from die 947 on this early
CP1 from Medicine Lodge,
Kansas.
die 947. This ornament is missing beginning with the seventh plate.
The first four plates, those for Ellicott City, Jewell City, Medicine Lodge,
and Shreveport (#3595), utilize open white letters on a black background. The
black background is rolled boldly into the spiral where it merges with the spiral.
Shaded black over white letters were tried on West Newton and Shreveport
(#3600), respectively, over vertically lined and solid white backgrounds. The
lined and white backgrounds are rolled into the spiral for those cases, producing
a very distinctive and pleasing whole. Fargo, the seventh plate, has the last of
the shaded black over white letters, and it was on this plate that they omitted
the spiral entirely, and left it off for the duration.
The state in the title blocks on the CPIs was spelled out in a string of
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Paper Money • May/June 2007 • Whole No. 249
237
that surfaced in the1970s. Apparently the "Assistant Cashiers" of the bank were
given the opportunity to sign 1902 Series notes of the bank as "souvenirs,"
because other sheets feature different "Assistant Cashiers."
The notes shown (courtesy of Heritage Auctions) with Mr. Kopicki's signa-
ture are from a sheet of $5s, which brought $8,625 at the recent Heritage FUN
auction.
I was never able to find a photograph of Mr. Kopicki. None has previously
appeared in the pages of Paper Money. But thanks to some great "Detective
Work" by Tim Kyzivat -- who himself served as SPNIC Treasurer we can
finally look at the image of the ONLY member of the Society of Paper Money
Collectors who signed large size National Currency!
The photograph Tim found pictured with him another prominent
Chicago area collector, who also made solid contributions to the study of paper
money. He was R. Edward Davis, who wrote "Early Illinois Paper Money,"
which appeared in the Numismatic Scrapbook Magazine. It was reprinted in book-
let form, and contains a "Check List of Early Illinois Paper Money" compiled by
D.C. Wismer and Lee F. Hewitt. t). Kopicki and R. Edward Davis
238
What's on Steve's Mind today?
J-e
UST FINISHED GOING THROUGH THE REMAIN-
ing auction catalogs I have saved since the 1970s. At first I
pt everything related to the hobby. I had boxes of dealer
price lists from Hickman & Waters, to PEI (Lyn Knight's pre-
decessor as I recall), Aubrey Beebe, Joe Flynn, Scott Secor,
Bill Donlon, Grover Crisswell and of course all the big names
today. They filled boxes, shelves and file cabinets. And, of
course there was no organization so, although I could tell you
that I thought I remembered seeing such and such a note, it
was impossible to locate the reference to prove it.
I did get rid of my complete file of Bank Note Reporters
going back to Grover's first issue and all of the price lists when
I moved from Kansas six years ago. Got $300 for the com-
plete run of BNR, and the guy who
took the catalogs, price lists and a
number of numismatic books
promised to include the rest of the
stuff in a paper auction. Never heard
from him again but I did gain a lot of
It occurs to me...
Steve Whitfield
space. During that first big cleanout I had saved the important
catalogs with major state collections of obsoletes, since they
had a lot more information than many of the available books.
So, for example, I had kept the Vacca sale of Missouri
notes and the George Wait sale of Illinois (I think); and of
course the Christies sales of American Bank Note proofs.
Recently I added the Ford catalogs of obsoletes and
Schingoethe catalogs. Superb hobby publications about obso-
letes have been coming fast and furious of late, see Obsolete
Paper Money by Bowers and Minnesota Bank Obsoletes & Scrip
by Shawn Hewitt and others, so my office space is shrinking at
a rapid pace. And more books are on the way, which I applaud
enthusiastically. "Michigan" by Doc Lee, and "Southern
States Currency" by Hugh Shull are out, and an "Illinois" by
Smythe is promised. A new "Florida" by my friend Ron
Benice is imminent. I'm working on a Kansas revision.
What to do? I still had many old auction catalogs. And
even though they are interesting to peruse, (can't believe some
of the notes I passed up and what they used to sell for) they are
really outdated by the recent Ford and Schingoethe listings, so
they could go. And go they did. I pity the poor trash guy who
had to lift about a thousand pounds: these things are heavy and
getting heavier. If I still had them all, I could build a section
of the Great Wall of China. Perhaps the answer is in CDs for
the future. Meanwhile think about throwing out, or donating
some of this stuff when you get it rather than piling it up for
years. I hereby resolve for 2007 to do just that. Check with
me in a year to see how I did.
Incidentally, I noticed that one of those old catalogs was
for the New England Collection, sold by NASCA in
January/February of 1978, "formerly the property of Q. David
Bowers". I'll bet Dave would like to have some of those notes
back. I know I would. -- Steve Whitfield, 2007
May/June • Whole No. 249 • Paper Money
SPMC Plans 4th Author's Forum
F IT AIN'T BROKE, DON'T FIX IT MAY BE OK FORI government work, but we at SPMC like to think we
are a cut above. Not ones to rest on our laurels, plans for
our 4th annual Author's Forum at Memphis are for an
even better event than its highly successful predecessors.
If you've been to one of these Friday afternoon hap-
penings, please mark your calendars to come again. If
you haven't participated as yet, by all means mark your
calendars and don't miss out this time around.
As I write this, plans are not yet firm, only firming,
but I expect a bevy of authorities to provide glimpses
into their research and publishing ventures, likely free
refreshments, and perhaps even free give-aways. The
best reason to come, though, is to scratch your own pes-
onal booking itch. Presenters have done a book, maybe
several. If they can, why not YOU? Our first three
events were co-hosted with Bob Schreiner, and we thank
him once again for his many fine contributions. This
time around my co-host is Wendell Wolka, and I expect
another fine performance in WW's inimitable style.
We recently had a mini-"contest of sorts" for a ride-
along to occupy Ye Editor's side car. Steve Whitfield
won; he may eventually wish he'd taken second place -- a
week in an ultimate combat cage event! This "contest" is
still open too. Write good stuff and we'll give you space
near the "Back Page"! "Back Page" is metaphorical, of
course; Dave Sundman and our good friends at Littleton
wisely "own" that precious bit of real estate.
I agree with my fellow "Back Page" columnist that
new information is the life blood of collecting, and our
paper money hobby is in fine mettle with all the new
books flowing through our hobby's arteries.
Each brings more oxygen to our paper money corpus.
Check out the special book section. I highly recommend
them all once AGAIN. I had the pleasure to work with
Ron Benice on his Florida book, and it's a ripe and juicy
orange, allright. I'm currently working with Steve on his
Kansas book, and it too will be a prime rib delight.
Personally, I'm working on four different books: a 2nd
edition of my Civil War Encased Stamps, a book on the
history of the dollar, and books on Abraham Lincoln on
coins and currency and sculptors JE & LG Fraser.
So come to our Authors forum. The door's open.
Our event is free. I promise you a good time, and if the
event doesn't live up to its billing, I promise you double
your entrance fee back on the spot. You know where to
find me. I hang out on the "Back Page" with my new
running mate, Steve.
MYLAR CURRENCY HOLDERS
BEST QUALITY -- LOWEST PRICES
Small (2 7/8' 1 x 6 1/2")
Large (3 1/2" x 8 11 )
Auction/Check (3 3/4 11 x 9')
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$39
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$48
500
$160
$175
$200
1000
$300
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$360
Payment by check or money order. All prices include shipping.
NY State residents must add sales tax or provide completed
resale form.You may combine sizes for lowest rate. For more
information, please see our website at www.sellitstore.com
Linda and Russell Kaye, Life member, ANA, SPMC
Sellitstore, Inc.
P.O. Box 635, Shrub Oak, NY 10588
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
Paper Money • May/June 2007 • Whole No. 249 239
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
Lowell Horwedel
Dave Bowers
John W. Wilson Rob Kravitz
Mark Anderson Benny Bolin
Robert Moon David Moore
Dennis Schafluetzel
Your Name?
Non-officer members who sponsor at least two (2)
new members will receive free of charge a vintage
BEP or ABNCo souvenir card from the Society as
our thanks. You can qualify for this reward too.
DO YOU COLLECT FISCAL PAPER?
Join the American Society of Check Collectors
http://members.aol.com/asccinfo or write to
Lyman Hensley, 473 East Elm St., Sycamore, IL 60178.
Dues are $13 per year for US residents,
$17 for Canadian and Mexican residents,
and S23 for those in foreign locations.
Confederate Paper Money
Helping Build Great CSA Paper Money Collections
• Books: Collecting Confederate Paper Money — SPMC 2006 Book of the Year; more coming
• Condition census and provenance: Documenting the rarities of CSA for future generations
• Position notes in the census, documenting provenance, recording great collections
• Building Great Collections: Major rare variety collections, spicing up type sets,
unusual focused collections, affordable and historically important error and watermark collections
Please contact - Pierre Fricke, P.O. Box 52514, Atlanta, GA 30355
404-895-0672; pfricke@attglobal.net ; www.csaquotes.com ; eBay – "armynova"
Maynard Sundman David Sundman
Jim Reardon
Founder President, Numismatist Chief Numismatist
(ANA LAI .1463, pNG g510)
•
Butch Caswell
Senior Numismatist
240
May/June • Whole No. 249 • Paper Money
LEETLETON COIN COMPANY • SERVING COLLECTORS for OVER 60 YEARS
Selling your collection?
Call Littleton!
you've worked hard to build your paper moneycollection. When it's time to sell, you want a
company that's as thorough and attentive as you are.
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WANTED: All types — Legal Tenders,
Silver Certificates, Nationals,
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7 Reasons you should sell to Littleton...
1 Receive top dollar for your collection -
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2 Quick turnaround - accept our offer
and we'll send you a check the very same day
3 Single notes to entire collections
4 Deal with a company that has a solid reputation
built from more than 60 years of service
You can rely on our professionals for accuracy
and expert advice
6 Why travel? Send us your collection, or if it's too
large and value requires, we'll come to you -
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7 Each year we spend over $15 million on coins
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Josh Caswell
Numismatist Numismatist
Littleton
Coin Company
1309 Mt. Eustis Roan • Littleton NH 0356 1-3 735
Contact us:
Toll Free: /8001 581-2646
Toll-Free Fax: 18771 850-3540
CoinBuy@LittletonCoin.com
References:
Bonk of America
Dun & Bradstreet #01-892-9653
Over 60 Years of Friendly Service to Collectors
0700/,1 rr
LittletonCoin.com I44J464
OUR MEMBERS SPECIALIZE IN
NATIONAL CURRENCY
They also specialize in Large Size Type Notes, Small Size Currency,
Obsolete Currency, Colonial and Continental Currency, Fractionals,
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, Missouri.
Please visit our Web Site pcdaonline.com for dates and location.
• 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 Paper
Money Convention, as well as Paper Money classes at the A.N.A.'s Summer Seminar series.
• Publishes several "How to Collect" booklets regarding currency and related paper items. Availability
of these booklets can be found in the Membership Directory or on our Web Site.
• Is a proud supporter of the Society of Paper Money Collectors.
To be assured of knowledgeable, professional, and ethical dealings
when buying or selling currency, look for dealers who
proudly display the PCDA emblem.
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
Or Visit Our Web Site At: www.pcdaonline.com
11.
.m
, TIVENTY
HERITAGE'S F.U.N. CURRENCY AUCTION
TOPS 10 MILLION
Part of $78 Million-Plus World Record for Largest Numismatic Auction
Heritage's official currency auction of the 2007 Florida United Numismatists Convention achieved prices realized of $10,539,462
helping Heritage establish a new world record for the largest numismatic auction ever held.
More than 900 consignors trusted Heritage with their prized coins and notes, and 8,367 bidders participated.
Fr. 2221-H $5000 1934 Federal Reserve Note
PMG Choice Unc. 64 EPQ
Realized: $126,500
ittitioiotV*
.xylkia
11-A.
Uncut Pair on The First NB of Key
West, FL, Ch. #4672 $10-$20 SN1
1882 Brown Back Fr. 485/499
Realized: 195,500
agr.„
-c271%,
0116338,
Fr. 1177 $20 1882 Gold Certificate
PMG Gem Uncirculated 66 EPQ
Realized: $126,500AXIIIA1
.
Ifftt
11
tilt
IS !WIVE
sogio+5..y
at A..41$1114.
UNT • i'•ONE
Fr. 380 The First NB of Denver, CO
$1 Original, Ch. #1016, SN1 note
Realized: $126,500
or.eanytirgivr
2090 0116338
4 10613A
Cut Sheet of Four Fr. 1072a $100 1914
Red Seal Federal Reserve Notes CGA Gem
Uncirculated 68; 68; 67; 67
Realized: $155,250
Fr. 185a $500 1874 Legal Tender
PMG Very Fine 25
Realized: $517,500
5433i Mt,
"ft410efilirio;Z
Fr. 212 $50 1864 Interest Bearing
Note PMG Very Fine 30 EPQ
Realized: $138,000
We welcome the opportunity to show you how important your consignment is to
Contact our Consignor Hotline today at 800-872-6467 ext. 555 to participate in one of our upc
Central States • May 10-12, 2007 • Consignment Deadline: March 22, 2007
Long Beach • September 28-29, 2007 • Consignment Deadline: August 9, 2007
The World's #1 Numismatic Auctioneer
HERITAGE HA.com
aztudiart Gaileria
To receive a complimentary book
or catalog of your choice, register
on-line at HA.com/PM6047
or call 866-835-3243
and mention reference #PM6047
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oming auctions.
Annual Sales Exceeding $500 Million • 275,000+ Online Registered Bidder-Members
800-872-6467 Ext. 555 • or visit HA.com • 3500 Maple Avenue, 17th Floor • Dallas, Texas 75219-3941
214-528-3500 • FAX: 214-443-8425 • e-mail: Consign@HA.com
HERITAGE NUMISMATIC AUCTIONS, INC.: California 3S 3062 16 63, Florida AB 0000665, Ohio 2006000050. CURRENCY AUCTIONS OF AMERICA: Florida AB 2218.
Auctioneers: Leo Frese: Florida AU 0001059. California 3S 3062 16 64, New York City; Day 1094965, Night 1094966; Samuel Foose: Texas 00011727, California 3S 3062 16 65, Florida AU3244,
Ohio 2006000048, New York City; Day 0952360, Night 0952361, and North Carolina 8373. Jim Fitzgerald: Texas Associate 16130. Mike Sadler: Texas Associate 16129. Scott Peterson: Texas 00013256,
Florida AU3021. Robert Korver: North Carolina 8363, Ohio 2006000049, Texas 13754, and New York City; Day 1096338 and Night 1096340
This auction held subject to a 15% buyer's premium.
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