,_, ,, ApERp , 0. r y -k 4 . ?:,,, % 14 OFFICIAL JOURNAL OF THE SOCIETY OF PAPER MONEY COLLECTORS VOL. XLVI, No. 3, WHOLE No. 249 WWW.SPMC.ORG MAY/JUNE 2007 r) ■% Pssst: You tell a book by its cover If it is Paper Money, it is bound to be good, and Hint: If it is our M/j issue it must be our 7th annual something or another /• „ 1/§(/ ■ / — — A447_ Az„. =u211=1:1*321111111SE .enjosactoutend,wwlakzanatomiad. on, 1.,,trat larron.lauld. cchwilh., c !?) t 99" a /, ••,4./ • .1.11111117.1, • a., • ma . • acilh. ea2>redaii- a., •titan: „latmsta 411 C.IASSZIEMIK •1,4/?.,41..., -,VA• - /4‹4/ .a././/it, .c./,// ,d‘cr.A 1216 30 ets. ,./7•7 /41/ CO 00::X0040704><> rt Thy ',whs. .0)10160Arlar., 000.0 0 0 Co 0:C),0 0 0 0 0 0 etei, 0 0 0 0 American Music Hall, •144 BROADWAY, OPEN EVERY NIGHT. 8 MEMPHIS Is COMING! -JULY S-7, 2007 ACCEPTING CONSIGNMENTS NOW! Already consigned: the contents of Stephen Wells tood's personal scrapbook of over 60 premium quality obsolete proof notes and vignettes; an outstanding collection of Alabama obsoletes; more than 1,000 notes from the Herb and Martha Schingoethe Collection of Obsolete Paper Money, the largest ever sold at auction. Space is limited. To consign, call now! This sale is held in conjunction with Unique Antiques & Auction Gallery, Tennessee License #2077; G.A. Bryant, Auctioneer, Tennessee License #2372. ESTABLISHED 1880 nvikiowt LARGEST AND MOST IMPORTANT CONFEDERATE NOTE AUCTION Since Smythe's World's Record-Breaking Gene Mintz Sale! APRIL 11TH - 13TH, 2007 This major sale will feature hundreds of Confederate notes from the collection of the Western Reserve Historical Society, a landmark offering of over 50 different Postage Stamp Envelopes from the same institution; over 1,000 notes from the Herb and Martha Schingoethe Collection of Obsolete Paper Money, the largest ever sold at auction, and many other important numismatic properties. Don't miss this extraordinary opportunity. To order your catalog now, call 800-622 - 1880. AN ESSENTIAL NEW BOOK FOR YOUR OBSOLETE NOTE LIBRARY! A History & Catalog of Minnesota Obsolete Bank Notes Not just a Minnesota Book! Gives readers the big picture of obsolete paper money. $69.95 each, shipping and handling $5.00 Quantities are Limited - Call Now to Order Your Copy! 800-622-1880 1212-943-1880 I 2 Rector St, 12th FL, NY, NY 10006 I info@smytheonline.com smytheonline.com We buy, sell, and auction the very best in Banknotes, Antique Stocks and Bonds. Coins, Autographs, and Anything Relating to Financial History 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 available from the Secretary for S6 postpaid. Send changes of address, inquiries concerning non-delivery, and requests for additional copies of this issue to the Secretary. MANUSCRIPTS Manuscripts not under consideration elsewhere and publications for review should be sent to the Editor. Accepted manuscripts will be published as soon as possible; however, publication in a specific issue can- not be guaranteed. 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ADVERTISING RATES Space 1 time 3 times 6 times Outside back cover $1500 $2600 $4900 Inside covers 500 1400 2500 Full page Color 500 1500 3000 Full page B&W 360 1000 1800 Half page B&W 180 500 900 Quarter page B&W 90 250 450 Eighth page B&W 45 125 225 Requirements: Full page, 42 x 57 picas; half-page may be either vertical or horizontal in format. Single-column width, 20 picas. Except covers, page position may be requested, but not guaranteed. All screens should be 150 line or 300 dpi. Advertising copy shall be restricted to paper currency, allied numismatic material, publications, and related accessories. The SPMC does not guarantee advertise- ments. but accepts copy in good faith, reserving the right to reject objectionable material or edit copy. SPMC assumes no financial responsibility for typo- graphical errors in ads, but agrees to reprint that por- tion of an ad in which a typographical error occurs upon prompt notification. 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 ANA-LM SPMC LM 6 SCNA P.O. Box 2522, Lexington, SC 29071 BRNA PCDA CHARTER MBR PH: (803) 996-3660 FAX: (803) 996-4885 FUN Paper Money • May/June 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 issues of M ay/Ju ne • Whole No . 74 9 • Paper Money 0 1177DRED PleTY J Our very next issue is #250 .41). 1: 11 C0.1,1S - .1044* 1.1, 7 4 s. vec, .t.* t. 'Ap'eatk),6%. Paper Money and counting • • • Paper Money • May/June 2007 • Whole No. 249 167 a rt • )43 0 -- • --------___s!,24---_, ----...-----._.,_ --s.,..t! ------„, 7■4:- -----`4.):ic---■ :,1 /,,--- • ) 7 Gold or Sifraer, at iLe rate of One ry of v 1 It G 1 11 A on or be rtf December, 17 92, according roan 11.1 , e ill Day of March, rogram Sell your 250 notes &c. here k Contactye olde Editor NOW! 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 valititegARZTENtOtafemeawma. (I* /(// b/7/./ 4j-) /;-/////./i7 )b, - i=st National. Bank ,'pi" Th \11KKERaff " • '• "/. 1/ // / fe.,„amta vieoputwskgiwiczo.40w€1;:aziaoRf:ouaa. oximettwmpv ,,t3Nemt.,,, , mit National otaulAP- /NIP. :z...17„„ /1/ ///; ///1/////// 1 (21,) ••:,,Cr +412:i) (1.1',... riVrA0.*IgiiilWatirfREMigefelMak- 4Alkaa- (irk, MT-77T, 5 11Zi.C122,:eligin=g24^-' '''"Vr-etZtaZ0V-C=.1:MEEIZ. ---,al's NO.1 .81..■ Ity tiVIONA.X4 (4,30-). -'410 V.-114,01:11,41 41401 x%tatjty:21,1:191t,' t;4 ZrYIESSEE ACT AVIPIROTBD E$Saasua , r tt.11 -110 -VDS or aS; (OEPONI-i% ..43.'4A133t13.91141.t,ys ler", , ra, 169 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* COME TO STACKS.COlv cirottcywart-AcrAep- mbofw /week./ PO `;" F' /16 411,A rat //di CTIVITY IN THE PAPER MONEY MARKET is stron- ger than ever! We have been cherrypicking certified notes for their eye appeal, brightness of colors, excellent margins, and overall appearance, with an emphasis on popular designs and types, many of which are featured in 100 Greatest American Currency Notes by Q. David Bowers and David Sundman. WE ARE CONSTANTLY ADDING TO INVENTORY but most items are one-of-a-kind in our stock; therefore we suggest you visit our website and call immediately to make a purchase. RECEIVE OUR PAPER MONEY MAGAZINE, THE Paper Money Review. This full color publication highlights paper money in our inventory, as well as articles and features about this fascinating collecting specialty. To receive your copy send us an invoice of a previous paper money purchase. Or, if you place an order for any paper money totaling $1,000 or more you will receive the Paper Money Review AND a per- sonally autographed copy of 100 Greatest American Currency Notes with our compliments. CHECK OUT OUR OFFERING TODAY. WANT LISTS ACCEPTED! -11111 e/Yeet:JuyeJ,eant ae yckeieJ- Melet:Crin L9Y('A awe/tawy We are pleased to announce the ongoing sales of the greatest hoard of bank-note printing plates, dies, and other material ever assembled. The American Bank Note Company (ABNCo) was formed in 1858 by combining seven of the most important bank note engraving firms then in business. Hundreds of printing plates and other artifacts were brought into the merger, and survive today. To these are added many other items made by ABNCo from 1858 onward, a museum quality selection. In sales in 2007 Stack's will continue to bring to market hundreds of bank note printing plates, vignette dies, cylinder dies, and other artifacts, each unique. These items are so rare that most numismatic museums and advanced collectors do not have even a single vignette die, cylinder die, or plate! If you would like to have more information, contact us by mail, phone, fax, or on our website. This is an absolutely unique opportunity! U.S. COINS • ANCIENT AND WORLD COINS • MEDALS • PAPER MONEY (tit P.N G Stack's New York City: 123 West 57th Street • New York, NY 10019-2280 • Toll free: 800/566/2580 • Telephone 212/582-2580 • Fax 212/245-5018 Stack's Wolfeboro, NH: P.O. Box 1804 • Wolfeboro, NH 03894 • Toll-free 866/811-1804 • 603/569-0823 • Fax 603/569-3875 • www. stacks.com 1■11;110;;.1100.1“1. 411.• 1•1:111:10.1.111,1 "I: MITE K2581-3L Paper Money • May/June 2007 • Whole No. 249 171 6 if,/f'==/Z///f, -7-1A--1;_K41SYO )t/tt/'4v/l hag% » . 114 WAi i'Dettverowl)evaimiN, ,- ?'A:get 1 4 4. 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 :. D ioNAL CURRENCY. 40‘'lettosi a'40 .141,74y44.9 sssery it ELS, Al- .1311.1 ) laiet4:1:4k tiraiONAltf. PAW OiK ;_ 7 fr— ff , '04 tm win Eltir DitufAawtoi&wo:, 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. IssioNAL • NMI:444 4.11,r 1.1.0.V017_44;(Tor ril l, r •—"..a aos■ •■■ Is2aLwase ■■:or il.t:i.Ercaottrcr NitgiONAt. trAmmoie • Pi' IP )S:111:011 ettlatimilitittini to ttairer laN:O=AIODZWEIG:167:41,011 , 0 4(2:30-3,--gzia 6 4P*441-404"r4cA"'ll' NATIONAL CURRENCY., .s 44.V1,51 It ILivaiii.D) .8 .0,,yen---0 . )Se rzrrk- i„ioihrilt.tzkemniunT it 111;151)in-9ton ., ---- 9 –1.! /7/ ,-"; • • ',"(, • - • 1 a ■-.).-1,),z)c:c. 3 /i NATIONAL ILIAW fast) (00.1 paii,TEN 101)covo, nn Delitalti). :riCirirtg=i7PADROMDWZIAZ. ' 4.4i"01) ES*.t1) '4"40WCI14.1,' ------KaccutoeicE2astm2.- A sioNAL cuRREN„..._ _czzza„. . . c/a:.Nom D„ ‘4.,t1:4 • 1.41-LeaW-4, la iewr̂ t?2 attiC2ifieW•ws..-4■(<,-' ‘‘.) -41PIRSIr_ s owl)emomX rj 74-' 4 7.7' ) • ••.,` • '•'. Jag." " Racrap...amalv t*E314123a2.4=DOCCiadjil Atm 1PIERCI7HIll EBB724.1111i3 .7faCittark■XSZ Oir2=a5:Enire=510 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- -A-s.e,'..2:-WT40.- A17.-... .,,S.« 4171)'1'4°41)4414",„ Nikr110.1,04.14Clattifilt A.( js NEf 't7I'L'iltlii- *- Zile 4L(4,7 lt,ourev ;Ft! W.U40 . 4 P4A114241 00314 1;11be*TIZilli 74/✓ 4- Prr• 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 TRUST YOUR TREASURES TO THE INDUSTRY'S Label Features Prominent display of cataloging information and grade Security features such as hologram, bar code, and reiterated grade Generous area for graders' comments Preservation. Identification. Appreciation. Your notes deserve the best. That's why PMG developed this holder—combining the qualities that collectors value most. The PMG holder... ...Is made from the highest-quality, inert materials. It contains no openings or perforations—guarding against environmental hazards and contaminants. ...Features a large label that displays precise and specific information about your note, including a full attribution, pedigree, and graders' comments, as applicable. ...Accommodates a wide range of currency albums. Your notes take center stage with protective materials that maximize superior visibility. PMG's primary commitment is to provide accurate and consistent grading of paper money—to impart confidence and reliability. This also includes understanding what numismatists want from a holder. And that's why we are bringing a new standard of impartiality and integrity. To learn more about PMG, visit www.PMGnotes.com, or contact Glen Jorde, Grading Finalizer, at 877-PMG-5570. Join the community mt,/ collectors-soclety.com 4:APMG PAPER MONEY GUARANTY P.O. Box 4755 I Sarasota, FL 34230 I 877-PMG-5570 (764-5570) I WWW.PMGnotes.com An Independent Member of the Certified Collectibles Group 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, Neti:T59:k Ciiy 1ctiityi.York: City . Yev41-tai 1)4; vaw.. ark City, N. Yi N. Pougble¢I>Ble N. t'ouglik9469; t. 'Ls Poq41i1;41,36;. Svrilculo;..-N;.*Y; .• y • 11,k.„11bi,terN.... . r(oiNY 1'1.4y, N. Y. 11 akiug, Makin ri,iln.00,0ba; 1 COITY1'1110.,EITS, PR4FLI.N7i1W...114TIOL5'.31,L 114V.VIOW1..,:3321.NE: kt'1%;:::0"a: .0r.....i.1141.1'..41'1ViT,F,z .(,),E t. ,1,g T, NATIC:07A 1.014:911:1. :11,1:411C. ABSNY. :. 1103(... RATItikr.kt. , BAWK. AIIMAS.:(111T.ICA1.401■741% , PI N 13A.N1i; 1aI 111 sip F.g4i! •liY11411n4E.SÄT1ONAT,..1A141i. 11VZ/NrIOTA.1.. , B INK illSrliATI 0$51.: P it.:-WAVONAT3,74Akia. 1,. 1,01/1.4 :pi ty .14.710X:k.1"; BOK.: _ 4 lattlii1. CO. N4.1' IONA L. BANK. I) -17.1130N:11, TANK'. 1\1 ryi;li .1.i..V.flONAh BAN1C, ,Ai„117!,. I MI' "k17,1130,g.,11, '13.4..N 11101.1MOND d71I'(N1T, 11ANIC . 1;111*.11E, NATLOK,AL: Pi ROT .NATIOIOAL.,13ANK: EIIRD XAT1011.1.i . . 1131Nli. • • • 20 51‘' 1'213 )11k 291:. 1 75;•: . 1305. 11• 732 ..19 • ; vt220 on P.111,T2 - • AU409714,..1840 . , : .6.0tiPf11.7 1,..1888 3 * ic ; 14468.5 . ' .::1,4840,14,31886 J ulie 1,..1895 .: -.4ti8iiii114; ..1'900 - M....1" 1'2, 1.565 A vauiT .1',.. 1861 A vieiAil; .:11166 .1,,,.::- 1, 1M5 A etlek.T1," 1888 31.1elusx '1,, .: 1808 - 1 1 i165 Aud,rst..14 .1846 J il,(,' 1, 1 8335,. S. .kile.ter, .1808 .2itei . ., .: 3,:p 1860 3,,T,T 20, 1888. ' 34-.i.r4.0;488.0 MAY. 0: 1665 '... 301/411,Y" 1860 ■TtlIV; . ,1064 ''','' : j."117rMiro".1)06 .101.1001k-,115,% , JA.2:11,6,141,.' 187a- 3th,i,- 5; 1864 .. Dice. er., .1870 .ti.uo'rdf li 1885' J esen.er.;:1860 Pen.' 201:863 .. keougl;' 1860 :.:.Fp. . 20,, 1885 . Atiersi:;.1, 1886 '.', . ' .'..... J'Ai6LiA,,-1870 a ei,..1 1, 1866 Je..N.i,.SitY • 1870'.. . . ,. 3-A107.IR1-,i,1070 Jinx I, 865 ' JA ev..i.et,4869 , .:111A:V. 10 95., 18 At; 011-.3i..3, ;13188 Auer 1, 1, 15165 Auc...,,,,z1; 1816 ILkiicit 15, 19(3 . J.,:in.4.nii.- 7 1877 , ,' . 1)Ril 22: 1874 - 3 kInTeRi, 7, , 1877 .": Fee.. 14 -,- 1880 • : JA.Yzir..iity 7.,,..j8v Fee. 20,- 1804•. .1,t104ir;', 1807 FRB. 20, 1894. ;-' JA40?.i. R.Y; 13137 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 I Sign Up to Receive Our Fully Illustrated Catalogs Free Online or Only $72 for a Full Year Subscription of Six Bimonthly Printed Catalogs AUTOGRAPHS • COINS • CURRENCY • AMERICANA • MAPS Every Auction Lot is Now Available for Online Viewi www EarlyAmeri can corn jA '44.411.1V V '44 I), 0 UhillOSTMSNOTE i a' Consign Your Important Material • Phone Dana Linett Today! Paper Money • May/June 2007 • Whole No. 249 189 r Buying & Selling All Choice to Gem CU Fractional Currency Paying Over Bid Please Call: 314-878-3564 ROB'S COINS & CURRENCY P.O. Box 6099, St. Louis, MO 63017 Special: my Fractional Currency Book FREE (free postage too!) to all new SPMC members who request one while supplies last I EARLY AMERICAN HISTORY AUCTIONS EARLY AMERICAN • P.O. Box 3507 • RANCHO SANTA FE, CA 92067 (858) 759-3290 OR FAX (858) 759-1439 • Auctions@EarlyAmerican.com WTTaxAvr IltionEs afatiNsToix. 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 over a year ago, spanning the entire spectrum of values—from the auction results above are proof that PCGS Currency grading is truly most common $1 Silver Certificate to some of the rarest and most a value added service. The notes pictured above realized an amazing valuable notes ever sold. The consistent application of our grading average of more than 350% of their current Oakes & Schwartz standards gives buyers and sellers unmatched security in determining reference value in the September, 2006 Heritage-CAA Long Beach condition and value. Our grading guarantee insures that even when Sale. Currency collectors and dealers recognize that the PCGS we make a mistake, you don't! Currency grading standards are the most consistently applied stan- Why trust any other service for your valuable currency? PCGS dards in the business, and these auction prices Currency is the only currency grading service realized are proof that buyers demand PCGS that offers a truly unbiased third-parry opinion, Currency grading for their valuable notes. published grading standards, and a written Whether your notes are worth $100 or less, grading guarantee. or $1,000,000 or more, PCGS Currency grading %/t11/11, adds value to your collection. We've graded Standards. Consistency. Integrity. more than 40,000 notes since our inception just CURRIENCY PCGS Currency Grading Matters!A Division of Collectors Universe Nasdaq: CLOT The Standard for Paper Money Grading P.O. Box 9458, Newport Beach, California 92658 • Toll-Free 800-447-8848 • Fax 949-833-7660 • wwwpcgscurrency.com 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 INSURANCE For The Paper Money Collector Your homeowners insurance is rarely enough to cover your collectibles. We have provided economical, dependable collectibles insurance since 1966. • Our insurance carrier is AM Best's rated A+ (Superior). • We insure paper money, paper ephemera, manuscripts, books, autographs and scores of other collectibles. "One-stop - service for practically everything you collect. • Personal Attention. Consumer friendly service. Dedicated staff. Network of expert assistance in valuing collectibles at time of loss. You won't deal with someone who doesn't know the collectibles business. • Detailed inventory and/or professional appraisal not required. Collectors list items over $5,000, dealers no listing required. • See our website (or call, fax, e -mail us) for full information, including standard exclusions. CIA Collectibles Insurance Agency 11350 McCormick Road • Suite 700 • Hunt Valley, MD 21031 E-Mail: info@insurecollectibles.com Imo= VISA Check our website for free downloadable brochures. Call Toll Free:1-888-837-9537 • Fax: (410) 876-9233 Need more information about our insurance? Visit: www.collectinsure.com I r r 0 7. FOS rr!2! V • :11.3X11114111111MatlIV s1E(1( ).-) •I); I pag- there re 4,04:0ttHiliEgiar0 . 4//' 116Thler- 4,s' :-•/;/;1;vi. ox.oLmos,wmtrompseqemccat000kozwo 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 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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. eareinilir i'f7,7YPL7il'elOuZO240.,t4,..;1 =La F '1ST thie l21,r briDEmanP vern okal 'AXICtitiZroik0c0Z040 10FGareeeViAtI=4)?Ck50 xi; 748:,rte teSt0a ttattlay- Arc 01,0,4 UNITED STATES *AT OA*" B&NIME waxv \tv ‘1, VVOAVVV Olt VIV1N,AVA I ; t.s - • r.infrifF4)ilOi4=0.-4 t0Cga:OS021Me'.**0 13,44so• gyj '.0,1=1,0=0;e3::EX.O.ZZO.XX v GREEDEEMBIE). 1111: STft ' Ru2,-). i 1 -5 ), )' ha Beare1 41 ' il r if " -Bemaa 6 71,/,///,/ Nt I►rt I S -07Za4OZZIO:=00 0 rP-09■9,:mtac..041".■-•• 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 JAW gif ■„, . ' 1 ;--1.-P3,,V.XY**133514-* *4 40,-• Fl It ST I aq- 1h"ga" 1111111110 4 raBrnan 6 e I:: It sr. s hri,/ 'is WernPaiiI10220-:XX-0=0233EM:4=04.." t'k 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 - —10Nytt r • 7,-../7 ,, t 'vrOS/r.27 / c CcIle 111iihigitit Ott) - --- __ , )viw pay l \s■ VIV,11 V MI, 11,t.m,a 11 )10111wAoilkapilifloacPN _ i% *- ( i■silt 'Ia'Wlr:Ik'OtOZre'ait*k.,Xtkk._A;-aWltr'g'CPZV•K).'O'O.VOCMg..CXreO:4Ze '' ZWri.O=er, TI=I'''"P"'IP'''''''' -10,111 CQUIIMAr .vni..".V1. 171, /Ye7 .11/_,/ III r7i-1/!.7.T, er , 111111 0Li 1311 -0 e-itai t3a"r 4,101 . Touito eman d . Ak:ver,/ //;,/ ..//e/:e ash: •40 v-7-77%-:44 ,4022talakina(041,4k0=1.M.401.00,470g:X07‘ o.;=ottxtizio,:4. aak-ii ITI srirP, Bl 4;2,0 UNITED STATES FI HST' 1 3."4''') ,)ri 11(1,:. hth,Ere,r 4 tilt 4poltafor30 ,1 -n -omanp 7,/„Amtwicit.., /.,„// //1 P .. JE-_?at. ,43,0K017.0 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. 1. 1:14t;' 8%--11 111111i11.51 the Beare Araemall' e ftil I ll Si ll 1...! ‘4') O'VE0=0*-34-WriViknafealti:43,026.,0,0=0'2=0 FIRST ht Bearea 14 i to, )),'ttratmarl' L e /,///,,i4;411111111ritiljaw- m/ 410-0T.,6 4 ''' VMS -*F- ''' S.,0.14#0 "••,. GREMIZaZiaia) Fl itsT '4741S-M:00=0**Milikla It ,ctiogr40, ErrEhNiZe4z4MV,Zie I j 1)ji I , ) pa 4 • I': • 1■' „ ar A tlie B el' (11 11111/11,-1 4" -Gerson" e 1 4))41 ,i).‘1■OP /1/ / 11 /4 , mit 021:00' 4 .10:440e>vit 4)=0 ern, ,"_•" '••• 0=0 (3602 V 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 * reittuntimut U, 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 • Cash Advances • Expert Cataloging • Beautiful Catalogs Call or send your notes today! If your collection warrants, we will be happy to travel to your location and review your notes. 800-243-5211 Mail notes to: Lyn Knight Currency Auctions P.O. Box 7364, Overland Park, KS 66207-0364 We strongly recommend that you send your material via 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 th P:er if jiff 11011iiii:i 44'0emano 'VA/'i:.1 V. iliatifala '/„ Al IA, 4)ki •:=K30U , OCL: / ,,c4,tam,y er ,r4r4=4"tu-a, VI" It It nrar ,, UNITED STATES 1!N.T,1.1"ti( s I I ri 4 i ite ilo il ti fti'he Bearo. °QDernana „ ( /1/ // it). 141-iLidGAIlti) 4.11W411c0=4/0-02Z4 7 ats 4=4:AlgarAr -`k 1,, ,N-14% CI' i t It EN 7j!17.m'al.„ / • / „ 4I '" 2 '34 it tlf 111111iI1 .5the Bearcra yH-Deman e , ,..tuF_L: .114t*421214.410k.4L7.4XX.4=4•.•Lk0=4-Ls 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 -IP +1,;:',1yrp.11 ,s ORMEEErMita . Vi _ of Vi'llettn.ran 'neMtMa • 1 r4 ■ 1/ I/ IT///;•,y,.// • Cush: rOZZOOX0=0.4 1S02120 Olt 11'r11E11 S4:(1'111'11 ES • Crt ) t' I ilfWgt 11,„ 1,11.tur _kw/ (//7 ( M.Y.; u,t ci3O=,0,%C:(40=0*=K0=0hZ, I2 '_10 0=045EEEVO. • 101tia le ••• <!frditbla- Flys* "-' Z':". - UM: ' ri j.) J2,--1 i 1 ri ) ,--1 u --:-. - `war 141- 17 t 4 ti PIA,..1 1) WA irtirToililli pn -oRino- to • e ,E;E-1-1/0, rs0r, /r, „, I N I: 0=00:13t0Firlex:OZDEMIKO ':024.0.2a7ft,— .1—̀ T=4:1:=M0s:Wz-,1§ ISIS SNIPltiS ECCUED111" liMilti OF THE UNFTED STATES Paper Money • May/June 2007 • Whole No. 249 205 black on white capital letters that were bowed downward at the center. However, when the plate for Rock Hill was certified January 27, 1887, the state began to be engraved as a horizontal string of letters, sonie of which were spelled out in mixed upper and lower case letters, others all upper case. There is no temporal pattern to the use of the two horizontal variants. The four CP2 plates are quite uniform, with the only variation being in the fonts used for the town within the tombstone. The state on all is presented in white on black upper case letters that are bowed downward in the middle. One trivial variant is that Massachusetts is followed by a period on the Fitchburg plate. The lone CP3 Sioux City plate is identical to the last of the standardized CP1 plates, except for the distinctive layout of the will pay lines. This spectacular patent let- tered layout was deemed inferior, and replaced by a circus poster in 1887! The Livestock National Bank of Sioux City, Iowa (5022), is the only bank to utilize the CP3 design. 0 Cffenft - ""),C;* ,0s4:4Z011=73:43111t0 . thrt poi ije...7) 4,0:1Iht Beare r " lln -Oernan d ( Vt://a/ ./. lit tliatta :////:" ' -4f=1 ,44 ,71,4)=0 AarGallikt . 0=0*-,x4) .) ,FT11930.2=03#.6:—. '"cM. ' S 6 I , lri1 sI CloisteN,n • SItyt irrn MA: s", 11E1, - KILIMA\SM trtriaxmtkozaractozwo Xixiieggaico=lipi4tioZZQ May/June • Whole No. 249 • Paper Money206 The quaint patent lettered Elkhart, Indiana, plate was replaced by a circus poster in 1887. Variations in Plate Elements The first use of a circus poster for Ellicott City also coincided with the first use of in-line treasury signatures on $5 Series of 1882 plates. Prior to this plate, the signatures were stacked one on top of the other, above and to the left of the title block. In-line signatures were used on all the circus posters except for a very interesting plate made for The Independence National Bank of Philadelphia, Pennsylvania (#3085) in 1887. The Philadelphia plate was a replacement let- tered E-F-G-H which succeeded a stacked signature patent lettering layout made in 1883. The siderographer copied the stacked signatures onto the new plate, rather than using the then standard in-line arrangement. All CPI plates made on or before January 17, 1887, have the Bureau logo in the upper right corner. Those afterward have it in the lower border. The upper right placement was preserved on the Fargo and Livingston territorial plates when they were altered into state plates in 1890. Plate letters come in three configurations on $5 Series of 1882 notes, and the circus poster era spanned all three. The earliest (through December 1886) involved an in-in arrangement where "in" means interior to both the portrait and upper right counter. The intermediate (December 1886-mid 1888) was an in-out arrangement. The final (after mid-1888) was out-out. The first two CP1 plates utilized the in-in style. The rest of the CP1 plates are in-out arrangement. All the CP2 and CP3 are out-out. Replacement plates were required after 1888, for Providence and Piedmont, which had been using CP1 layouts with in-out plate letters. The replacements were made with the out-out variety consistent with the conven- tion then in effect. Paper Money • May/June 2007 • Whole No. 249 207 On This Date in Paper Money History - May 2007 By Fred Reed © May 1 1830, first known note of British Guiana issued for one joe or 22 guilders; 1863, CSA Congress adopts "National Flag" which appears on 1864 $500 notes; May 2 1862, Cherokee Council and National Committee authorizes tribal notes payable in Confederate Currency; 2002, Bank of England launches new fivers, "most secure note we have ever produced"; May 3 1779. British Bank Restriction Act passed; 1952, Chase National Bank displays collec- tion of Ohio obsolete notes at CSNS Cincinnati convention; May 4 1816, Treasury Secretary Samuel Dexter (FR 1379) dies; 1837, banks in Natchez, MS suspend specie payments; 1900,Colonial counterfeiting author Kenneth Scott born; May 5 1818, encased stamp issuer, proprietary medicine vender James Cook Ayer born; 1896, Commissioner of Internal Revenue sends all personal tax returns for destruction following 1895 Supreme Court ruling that income tax was unconstitutional; May 6 1775, diplomat, inventor and currency printer Benjamin Franklin returns from Europe; 1799, accounting in France in francs made obligatory; May 7 1783, Superintendent of Finance Robert Morris conveys to Benjamin Dudley "the paper Mold for making paper mark'd United States" for use in printing Continental loan certificates; 1995, Western Wooden Money Club organized; May 8 1792, Congress extends redemption of Continental Currency to March 7, 1793; 1974, William E. Simon takes office as Treasury Secretary; May 9 1777, pioneer rag-content paper manufacturer Zenas Crane, who revolutionized print- ing of banknotes, born; 1979, Detroit Fed Bank official predicts failure for small dollar coin unless paper dollar withdrawn; May 10 1818, Massachusetts Colonial note engraver and printer Paul Revere dies; 1861, CSA Treasury Secretary recommends small denomination circulating notes; May 11 1861, New York Stock Exchange prohibits the trading of Confederate securities; 1931, Creditanstalt, Austria's largest hank, collapses; May 12 1812, Stephen Girard purchases assets of defunct First BUS, of which he was largest stockholder & receiver; 1858, United States Paper Money author George Blake born; May 13 1874, overprinted black charter numbers appear on $5 NBNs; 1927, Berlin Stock Exchange beset by "Black Friday;" 1966, Citibank issues first dollar CDs in London; May 14 1840, New York legislature amends state's Free Banking Act; 1921, BEP begins plates for USNs and SCs with facsimile signatures of Elliott and White; May 15 1864, Chicago Board of Trade accepts nothing but national currency and greenbacks; 1909, paper money dealer and author Dr. John Muscalus born; May 16 1812, U.S. Congress charters Mechanics Bank of Alexandria, D.C.; 1865, Waterman L. Ormsby patents circular medallions as a counterfeit deterrent in bank note printing; May 17 1781, Superintendent of Finance Robert Morris submits a plan for a national bank; 1862, MG Butler prohibits circulation of CSA money after May 21st in New Orleans; May 18 1819, Asa Spencer employed by Perkins and Fairman; 1906, Longtime SPMC member Robert H. Lloyd born; 1914, Federal Reserve Bank Notes bear this printed dated; 1979, Private Gold Coins and Patterns of the United States by Don Kagin copyrighted; May 19 1828, aggressively protective "Tariff of Abominations" signed by President John Q. Adams; 2002, I.S.G. Boggs' "Making Money" exhibit debuts at Berlin gallery; May 20 1663, William Bradford, printer of NY and New Jersey Colonial Currency, horn; 1777, United States appears for first time on our currency replacing United Colonies; 1896, Emanuel "Jim the Penman" Ninger sentenced to 6 years for counterfeiting; May 21 1838, Congress authorizes one-year interest-bearing notes of $50 and up; 1879, believed to be first appearance of Fractional Currency in coin sales; 1922, Mack Sennett comedy For Love or Money (a.k.a. Crossroads of New York) debuts; May 22 1661, Massachusetts revokes legal tender status of wampum; 1933, Congress declares all currency in circulation legal tender dollar for dollar as if it were gold; 1979, Boys Town PhilaMatic Center opens collection to SPMC Wismer researchers; May 23 1862, Petersburg Express reports people are "eager to spend" postage stamps they have on hand; 1887, end of Rosecrans-Jordan combined tenure as Register & Treasurer; May 24 1795, Senator Silas Wright (FR 1188-1197) born; 1864, Register of Treasury Lucius Chittenden advises President Lincoln that he is about to resign; May 25 1775, Massachusetts commissions engraver Paul Revere to produce currency plates; 1803, Ralph Waldo Emerson, who said "Money often costs too much," born; May 26 1826, Bank of England note-issuing privileges breached by Parliament approval of rural banking houses; 1862, Confederate dollar worth 28 cents at New Orleans; May 27 1720, The Bank of John Law in France stops payment in specie; 1863, last issue of Postage Currency; 1958, Series 541 MPCs issued; May 28 1868, first CSA note cataloger Dr. Thomas Addis Emmet becomes resident member of ANAS; 1946, Treasury Secretary and "Father of the Federal Reserve" Carter Glass dies; May 29 1863, Articles of Association for FNB of Philadelphia (charter #1) ; 1912, BEP begins to launder currency to extend note life; 1932, SPMC member Donald Koehler born; May 30 1863, ABNCo experiments with "unalterable hank notes" printed in Patent Green Tint and Black Carbon Oxide inks; 1908, Emergency Currency Act OKs 5500, $1000 and $10,000 National Currency; 1922, Lincoln Memorial (FR 1525-1536) dedication; May 31 1727, The Equivalent Company incorporated by royal charter as the Royal Bank of Scotland; 1878, Congress prohibits retirement of Greenbacks, fixes Legal Tender Note circulation at 5346,681,016; 1950, founder Abe Kosoff names budding coin/currency dealer group the Professional Numismatists Guild; • LHc SAT 111 :1 ►6111T . //,h// J ./ l{1 At ••• . p • .• ( ,onIl tiluill1111111111 1111111m1 208 May/June • Whole No. 249 • Paper Money Two different progress proofs for Fitchburg, Massachusetts (4'2153), where the basic CP2 layout was transferred from die 2451. Upper: The shading within the letters "National Bank" is completed, and shading of the back- ground behind "National Bank" half completed. The die was then rejected. Middle: The engraver has experimented by penciling in the shading within the letters in "National" and "Fitchburg." Lower: The completed title block as it appeared on $5 notes. risist, 1 11,M1: ....inmilllill111 111 111111111 1i ii iittllu tit Nr..0) 'W11'11100 FIVE 10(-)1011•0. In contrast, when the territorial plates for Fargo, Livingston and Canton were altered into state plates in 1890, the original letters, and their in-out place- ments, were carried forward to the state plates. As expected, the out-out place- ments for Charlotte and Fitchburg were preserved when those CP2 plates, and the CP3 plate for Sioux City, were altered into date back plates and relettered. The treasury signatures on the plates were those in office on the plate date. Discussion There are 61 certified proofs with circus poster layouts from a total of 50 different charters. The use of the circus poster layouts was sequential from CP1 to CP3 without overlap. The other variables that changed -- stacked ver- sus in-line treasury signatures, Bureau logo placement, and plate letter positions -- are entirely consistent with identical contemporary changes made on all the $5 Series of 1882 plates. Acknowledgments Doug Walcutt and Huntoon agreed to collaborate on a definitive article dealing with circus poster layout just before Doug died. Subsequently, Robert Kvederas, Doug's close friend and collaborator, compiled a list of the circus posters that Doug had found. Kvederas, Mark Hortz and Huntoon continued to add to the list as circus posters were found among the Smithsonian proofs. Huntoon looked at every national bank note proof in the Smithsonian holdings during 2004-5 to determine if any had been missed, but none had by then AVErtktiereANV Paper Money • May/June 2007 • Whole No. 249 209 On This Date in Paper Money History -- June 2007 By Fred Reed © June 1 1822, Alabama issues state treasury notes for fractional sums at Caliawba; 1865, date set by Treasurer F.E. Spinner for Interest Bearing Treasury Notes with cletatched coupons which had ceased to be legal tender can be redeemed at full face value; June 2 1863, Richmond Examiner reports circulation of CSA 50-cent notes; 1978, BEP issues its first Memphis International Paper Money Show souvenir card with discovery of Mississippi River vignette; June 3 1864, Treasury Secretary Chase announces BEP using hydrostatic, dry printing presses; 1978, BEP Director Seymour Berry tells attendees at 2nd Memphis International Paper Money Show that BEP is against Braille coding of U.S. currency; June 4 1818, Peter Maverick utilizes multiple plates as "An attempt to prevent forgery of bank notes"; 1977, first Memphis International Paper Money Show held with 947 attendees, including this writer; 2005, George F. Kolbe holds John J. Ford Literature Sale Part 2; June 5 1919, J.P. Buckley renews patent for machine for assorting and counting paper money; 1974, Col. Grover Criswell writes several hundred $1 checks to Coin World to pay for advertising and create instant collectibles after the processed checks return to him; June 6 1756, artist John Trumbull (FR 452-463), painter of Presentation of Declaration of Independence, born; 1994, Secret Service submits request for new office staff in Moscow to combat burgeoning economic crimes such as counterfeiting U.S. currency; June 7 1783, oldest surviving U.S. stock certificate for share in the Bank of North America, first bank in U.S and first U.S. corporation; 1981, Collector Ray Byrne dies; June 8 1942, first delivery of Series 1934 $5 FRN with HAWAII overprint; 1976, Anthony LaCapria files patent for preventing counterfeiting by modern color copiers; June 9 1732, colonizer James Edward Oglethorpe, who appears on obsoletes, secures Royal charter; 1951, Palestine Currency board banknotes are denometized in Gaza Strip; June 10 1834, BUS satyrical notes circulate; 1864, many Compound Interest Bearing Treasury Notes bear this overprint date; 2003, Treasury Secretary Donald Regan dies; June 11 1862, Second Legal Tender Act authorizes additional S150 million in United States Notes, totalling 5300 million; 2001, KBA (King & Bauer AG) acquires De La Rue Giori to corner 90% of security press market worldwide; June 12 1945, public tours, suspended during war, resume at BEP; 1995, Business Week cover story The Future of Money" proclaims E-cash will transform the \yodel's financial life; June 13 1979, "Save the ANA Committee," chaired by Matt Rothert and others, cites loss of membership, revenues and burdensome legal fees as reason to "Vote for New Faces"; June 14 1858, ABNCo receives contract to print U.S. obligations; 1870, Refunding Act exempts certain securities from taxation by states and federal government; June 15 1762, first paper money in Australia; 1864, CSA Treasury Secretary Christopher G. Memminger resigns; 1949, Taiwan dollar replaced at one ND to 40,000 old dollars; June 16 1812, NY charters City Bank of New York; 1921, Congress OKs office of Under Secretary of the Treasury; 1953, early paper money collector Alden Scott Boyer dies; June 17 1897, ABNCo makes first delivery from its plant in Ottawa, Canada; 1964, Harry Solmson CSA currency collection displayed at Little Rock's Old State Capital building; June 18 1862, Cherokee National Committee issues currency payable in Confederate dollars at Tahlequah, IT; 1948, stabilized deutschmark introduced; June 19 1893, end of Rosecrans-Morgan combined tenure as Register and Treasurer; 1981, SPMC Wismer book on notes of Rhode Island by Roger Durand goes on sale; June 20 1824, Bank of the State of Tennessee circulates small change notes; 1874, Legislation provides for imprinting reel charter numbers on NBNs for easier sortation; 1992, SPMC Board votes to give an Award of Merit to Tom Denly for his recruiting activities; June 21 1861, last CSA Montgomery $50 and S100 notes issued; 1948, Soviet zone in East Germany currency conversion from AMC to Rentenmark and Reichsbank notes; June 22 1861, Harper's Weekly lampoons Confederate "Owe Ever, Pay Never' finance; 2002, world's largest wooden nickel 113' 4' diameter) unveiled in San Antonio, TX; June 23 1822, Banknote designer Felix O.C. Darley born; 1948, BEP awards contract to Huck Company for experimental hi-color rotary web-feel press for postage stamps; June 24 1924, Illinois Intelligencer reports 2nd annual burning of 10% of State Bank of Illinois bills to reduce currency in circulation; 1863, first National Bank chartered in Massachusetts (FNB Springfield '414); 1908, Grover Cleveland (FR 822-830( dies; June 25 1792, Massachusetts governor John Hancock signs charter for Union Bank, third bank in Boston; 1910, legislation authorizing the Post Office Department to establish postal savings depositories passed; 1946, John W. Snyder takes office as Treasury Secretary; June 26 1878, government purchases land parcel for new BEP building; 1988, Aubrey and Adeline Bebee open 20th annual ANA summer seminar by unveiling $2 million paper money collection donated to ANA; June 27 1775, earliest known dated Colony of Massachusetts Bay bond engraved and printed by Paul Revere; 1980, interntional currency authority Dr. Franz Pick predicts "the dol- lar will be wiped out" in New York City appearance; June 28 1776, Continental Congress okays signers for small change notes, but no action taken to appoint them; 1871, New York Times front page article reports "gang of counter- feiters broken Lip by the government detectives;" June 29 1813, engraver Jacob Perkins patents a copper and steel plate printing press; 1920, Ivory Coast authorizes gummed stamps on paper for circulation as money 1955, Senate unanimously OKs bill requiring motto IGWT appear on all U.S. paper money; June 30 1857, Dr. Thomas Sterry Hunt patents anti-photographic green and red inks for ban- knote printing; 1864, Comptroller reports $650 million in greenbacks circulating ef-aliteAr 0=014 r , ) c WMO246 11.KftI ‘4..1) (10 411 9° 11' ,ItiE B,;are, if jiff. 11 j,1114j .e4.7 "'OHO,. e .7j.ri'/, 7Z: 1: 1ECSI:1: /ri, . )7/ i 1 2 • .. c `seep' 1: .4 ,.., 4:411:0,44*0211Z0,440,1103:1101 4=074',; :• 90_011t. tfifinit 70,z, FIRST he [3ear¢f 4 iti f- on-omarip el 1)011itrti ,filjET ''''6'r-":';(3217F9ITILPAM;fEKti2420€190CO2%er 4,frjr • • me FIRST I t?UJ I , i4Ba Ør`e'r Nrugma , d YORK 1. 1.! • .:31E3,..3240KKE*4...(40.4.4:7.40.11ZONAK)=. thol, 110 ."' IrEtt May/June • Whole No. 249 • Paper Money210 This bank in Sparta was the only one in Tennessee to receive circus poster notes. Tyler was the only town in Texas to get circus poster notes. One of the most sought New York $5 brown backs is this Yonkers circus poster. The research leading to the preparation of this article was partially sup- ported by grants from the Professional Currency Dealers Association, the Society of Paper Money Collectors, and the Currency Club of Long Island. The assistance of James Hughes, Museum Specialist, is gratefully acknowl- edged. The photographs of the certified proofs shown here are from the Smithsonian collections. We are proud to continue the numismatic legacy begun in 1933 Specializing in Quality and Rare U.S. Currency U.S. Large Size Fractionals U.S. Small Size Nationals National Gold Bank Notes Kagin's -- an established name for conserva- tive grading of quality notes. We specialize in building U.S. currency collections of premium quality and rare notes. Favorable terms to suit your individual needs. 98 Main Street #201 Tiburon, CA 94920 1-888-8KAGINS www.kagins.com You are invited to visit our web page www.kyzivatcurrency.com For the past 8 years we have offered a good selection of conservatively graded, reasonably priced currency for the collector All notes are imaged for your review National Bank NoteS LARGE SIZE TYPE NOTES SMALL SIZE TYPE NOTES SMALL SIZE STAR NOTES OBSOLETES CONFEDERATES ERROR NOTES TIM KYZIVAT (708) 784-0974 P.O. Box 451 Western Sprints, IL 60558 E-mail tkyzivat@kyzivatcurrency.com Paper Money • May/June 2007 • Whole No. 249 211 United States Paper Money special selections for discriminating collectors Buying and Selling the finest in U.S. paper money Individual Rarities: Large, Small National Serial Number One Notes Large Size Type Error Notes Small Size Type National Currency Star or Replacement Notes Specimens, Proofs, Experimentals Frederick J. Bart Bart, Inc. website: www.executivecurrency.com (586) 979-3400 PO Box 2 • Roseville, MI 48066 e-mail: Bart@executivecurrency.com BUYING AND SELLING PAPER MONEY U.S., All types Thousands of Nationals, Large and Small, Silver Certificates, U.S. Notes, Gold Certificates, Treasury Notes, Federal Reserve Notes, Fractional, Continental, Colonial, Obsoletes, Depression Scrip, Checks, Stocks, etc. Foreign Notes from over 250 Countries Paper Money Books and Supplies Send us your Want List . . . or .. . Ship your material for a fair offer LOWELL C. HORWEDEL P.O. BOX 2395 WEST LAFAYETTE, IN 47996 SPMC #2907 (765) 583-2748 ANA LM #1503 Fax: (765) 583-4584 e-mail: lhorwedel@insightbb.com website: horwedelscurrency.com May/June • Whole No. 249 • Paper Money212 Frances E. Moulton, National Bank President by Karl Sanford Kabelac Frances E. Moulton (detail from photo opposite, courtesy Sanford Historical Committee, Sanford, Maine) NESTLED IN THE HILLS OF SOUTHERN MAINE, INLAND from Portland and near the Maine-New Hampshire border, lies the small community of Limerick, Maine. Jeremiah Mason was a prominent citizen in the community during the latter half of the nineteenth century. Active in business, political and civic cir- cles he was the founding president of the Limerick National Bank in 1882 (charter #2785) and served in that position until his death in 1897. (His impres- sive brick home is today a Bed and Breakfast on Main Street in Limerick.) Early in 1898 his daughter, Frances Estelle Mason, was elected president of the bank to succeed him. She was born in Limerick on March 15, 1861, received an education at the local academy, and had received advanced training in art in Boston before returning to the community. Frances E. Mason was probably the first woman national bank president in Maine and perhaps also the first woman national bank president in New England. 213 Paper Money • May/June 2007 • Whole No. 249 The LimerickNational Bank was established in town in 1882 with a capital of $ l 50,000. This institution has been a source of great convenience and assistance to the peope of this region and i is much apprecated. An Interest Department was established about 1885; in 1903. The bank's p Home Savings resent capital nd surplus is $130,000.00; cash reserve, $100,000.00. Its deposits The officers are: Mrs. Frances E. Moulton, p Wil. on Nov. 12, 1907, were $655,253. 71 . resident; Sam W. Mason, vice president; Charles G. Moulton, cashier. Un- der this efficient management the bank has become one of the strong and prosperous institutions of this part of the state. Above: Frances and Charles Moulton with daughter Olga and their chauffeur, out for a ride about 1910. (Photo Courtesy Sanford Historical Committee, Sanford, Maine) Left: Short history of the bank, 1912. Bottom: Stock certificate of the bank, 1913, signed by Charles G. Moulton as cashier and Frances E. Moulton as president. 7 F THV 4-661- ni 6'1.1? 4t- I e 4,0120tGitt-- 4 LlmaureK, MAINE. Attl. 4 %,%_rinkei _ _ of _ (ea rta/of' , Shares of Ong Hunched Maar:6: each. in NATIONAL HANDt subject to the provisions of its By- tal-T- _Artiele.s of „zissociatton and transferable only on, the Books of the Bank, is _proprietor of at0/7 L.; the Capital Stock of mr, LINKRICE in parson Or by Attorney, On the, Sarr reflde Of this Certtjicate, with, la to Ottrtifll,,,e,t the aCe0771partyihg form, duly c_x-ectzted and witnessed. and LIg..2-; — 77a, In Witness Whereof, the 's_Pr le0,........ 7 .- -i --e herean to heir thisl..43.E1,4 •.• AIMIF 1 4 Gt 1 y41 .'''''''',., -,07-:7,--= -. :Ident. r OnsiCier. :"1,'"^'^ rt-grt/VV-rfq 4-co so-oo.,.. 1 .tlt-''' $4.0S-R404 '',,,,,,...„..„...:!:106.01..t. . ,.. .,91W. ,'4f.p.Mir. . - — 'K`.'''' 't;5-- t; ' ' eitL1,. '1,%:,, ..,f4f711074-' 174 t;;;SECCREIIRTCNIfLOSTATES BONDS IMPOSITE11111TO THLTIMS11011 Or 83 '444-AUg.lej , ru._• 4E5W -Jo 2, •-ff,;:■44-w;r4 4.0).);KiA , • ' - May/June • Whole No. 249 • Paper Money o . GLARC., L1.711E,RICT, . ; AYR lt5 is9 00-1' elicloslir? es., is -re,c,sved_, or, co-ox,o,cio-s. Glril\S. G. 0.00...°T01,1, Cashier. 214 Business postcard of the ban , 1893.k One biographical sketch noted that "Under her father's guidance she had become exceptionally proficient in financial affairs, with a broad knowledge of local credits as well as familiar- ity with local business conditions. During her presidency the Limerick National Bank prospered and became one of the best managed banks in the rural districts of Maine." (National Cyclopedia of American Biography, v. 22, p.137.) In 1900 she married the cashier of the bank, Above: Series 1902 National Bank Note signed by Frances E. Moulton as president and her husband Charles G. Moulton as cashier of the Limerick National Bank. (Courtesy Andrew Nelson) Below: Series 1902 note on the Limerick National Bank signed by Charles G. Moulton as president and Mildred Johnston as cashier. Charles G. Moulton, and they had one dough ter, Olga Frances. She served as bank presi- dent for more than 20 years, dying of pneu- monia on June 1, 1919, after a period of declining health. She had also been a direc- tor of the Limerick Mills for 20 years and a director of the Western Maine Power Company. 215 Paper Money • May/June 2007 • Whole No. 249 iy • 160y,4 it L. r)1 vin 4t. 6- 3t h by fl dir 10 qf c, , t '61 cir . ‘ 4,,3.,....,,,,,..60, it, ' ,filpror,,?..(1,--,p. ∎ ro 6 - . - pte, t if 1 i if IL . 736-)47-3,, Top: A map of Limerick, Maine in 1912. The bank is building number 8 (see arrow). Above: Postcard view of Main Street, Limerick. The bank is on the right. Right: Postcard view of the bank. The Moultons lived in the apartment above it, which Frances Moulton, with her artis- tic talents, had beautifully deco- rated. Today the main floor still houses a bank, and the upper floor a law office. ii o4 0.7 C ♦ era A l) la •/' pa • /K. $50, 000. 00 50, 000. 00 4, 649.65 44, 995. 00 9, 000. 00 32. 85 331, 932.00 216 May/June • Whole No. 249 • Paper Money r352 REPORT OF THE COMPTROLLER OF THE CURRENCY. - Limerick National Bank, Limerick. FRANCES E MesoN, President. No. 2785. CHARLES G. MOULTON, Cashier. Resources. Liabilities. Loans and discounts Overdrafts U. S. bonds to secure circulation U. S. bonds to secure deposits U. S. bonds on hand Premiums on U. S. bonds Stocks, securities, etc Bank'g house, furniture, audfixtures Other real estate and mortg's owned Due from other national banks Duo from State banks and bankers. Due from approved reserve agents Checks and other cash items Exchanges for clearing house Bills of other national banks Fractional currency, nickels, cents Specie Legal-tender notes U. S. certificates of deposit Redemption fund with Treas. U. S Due from Treasurer U. S CIS Capital stock paid in Surplus fund. Undivided profits, less current expenses and taxes paid National-bank notes outstanding State-bank notes outstanding Due to other national banks Due to State banks and bankers Dividends unpaid Individual deposits United States deposits Deposits of U.S.dis bursingofficers Notes and bills rediscounted.. Bills payable Liabilities other than those above stated $294, 813. 01 86.95 50, 000. 00 25,000. 00 70, 525. 00 1, 118.72 19, 098. 55 165. 69 21.23 26,480. 35 1,050.00 2,250. 00 Comptroller of the Currency report on the condition of the bank, September 20, 1898; Frances' first year as president. Series 1902 Portland National Bank Note signed by William W. Mason, president of the bank and brother of Frances E. (Mason) Moulton. Charles G. Moulton succeeded her as president and continued in that office until the bank merged into the Fidelity Trust Company of Portland in the summer of 1931. Succeeding him as cashier was Mildred Johnston. Thus for more than 30 years, the bank had either a woman president or a woman cashier. Frances was not the only child of Jeremiah to become president of a national bank. Her brother, William, 10 years her senior, was also trained in the ways of banking by their father. He began as a cashier in the Limerick bank when his father was president, but moved to Portland where he was vice president and then president (from 1907 to 1926) of the Portland National Bank. Thus for over a decade a brother and sister were simultaneous- ly presidents of national banks with their signatures appearing on United States currency, a fact almost unique in national bank note history. Sources and Acknowledgments Biographical material on Frances E. (Mason) Moulton is found in her obituary in the Sanford Maine Tribune for June 6, 1919, and her entry (with a picture) in the National Cyclopedia of American Biography, New York: J. T. White, 1932 (v. 22), p. 137. Also helpful were two histories of Limerick: Souvenir of Limerick, Maine 1912 published in Brunswick, Maine by the Maine Map & Register Co., and Limerick -- Historical Notes, published by the Town of Limerick in 1975. The assistance of Eleanor Watson and Harry W. Kinsley, Jr. of the Limerick Historical Society, Gail Libby of Limerick and Andrew Nelson is gratefully acknowledged. ,,,r/S,. -gl( 6A1A6 —M1111K63"1-12V6 C eneYr SIco,toSyurnTLosluflIUZsOtPUIltI IVrtane MMUS! t11114E UNITED STATES OFAMERICA vgoNvomolmv-1P-11 R256793- \I 3539 ;Apotiomuractmr 424 7.:74313-1. • Zoliitt‘ %WC Paper Money • May/June 2007 • Whole No. 249 217 * * * * * * 1,7 * AS * NUMISMANIA RARE COINS P.O. BOX 847 -- Flemington, NJ 08822 * Office: (908) 782-1635 Fax: (908) 782-6235 * Jess Lipka, Proprietor -A- NOBODY PAYS MORE frt TROPHY NATIONALS Buying All 50 States. Territorials, Entire State and Regional Collections, Red Seals, Brown Backs, Statistical Rarities. New Jersey. Also Buying Coin Collections and Type NO DEAL TOO LARGE! A 7dr. A * * * It's JUST A Hobby! 'P As I write this column, it is the first week of March. I have just received the sad news that the wife of a long-term SPMC member, governor and officer has passed away. Sandy Cochran, wife of Bob Cochran passed away February 26. Most of us know of Bob's dedication to the hobby and the Society, but I can tell you he had an even more impressive, inspiring and important legacy—that of husband and caregiver to Sandy. Bob, the board and the entire Society as a whole extends our sym- pathies and best wishes to you and grieves with you. After I got this news, it made me pause and reflect. This may come as a blasphemous statement to some, but to us collectors, this is "just a hobby!" Too often we take it way too seriously and don't stop to enjoy it for what it should mean to us. Now, that was meant for the collector group. I know that to many, this is much more than a hobby, it is indeed a livelihood. I encourage you to always take the time to enjoy the hobby and those in it whom we call friends, even those we have issues with as all of us are gone all too soon. Remember, this is fun and should be stress relieving, not stressful. Remember those who made the hobby fun and what it is today. Remember and honor their hard work, dedication, love and passion for the hobby. Then, resolve to do something for the hobby to be remembered for yourself. Let us not mourn those who have gone before us, but celebrate them by working to make the hobby even better. Since it is early March as I write this, but near summer when you read it, I cannot tell you much about the year so far except that it started off very strong with FUN, CPMX and ANA Charlotte. I hope that this trend continues, and that all of you can and will join us in Memphis. Wendell Wolka will be presenting his new seminar on grading and detecting doctored notes; we will have yet another installment of the Tom Bain Raffle and breakfast in the same vein as last year; we will stage our 4th annual Authors Forum; there will be many club and educational meetings and a lot of old friends to see, new ones to make and relationships to rekindle. v Benny May/June • Whole No. 249 • Paper Money TR, Paper Money will accept classified advertising on a basis of 15c per word (minimum charge of $3.75). Commercial word ads are now allowed. Word COME Name and address count as five words. All other words and abbrevia- tions, figure combinations and initials count as separate words. No checking copies. 10% discount for our or more insertions of the same copy. Authors are also offered a free three-line classified ad in recognition of their contribu- tion lo the Society. These ads are denoted by (A) and are 111I on a space available basis. Special: Three line ad for six issues = only $20.50! INTERN'AIIONAL ENGRAVER'S LINE, World engravers & their work, 392 pages, 700 ill., most in color, $74 incl. post. Premium ed. with signed notes $110. Gene Hessler, PO Box 31144, Cincinnati., OH 45231 or engraverslineCT aol.com (252) COLLECTOR NEEDS Annual Report of the Comptroller of the Currency 1863 Mu] 1935. Ron I lorstman, 5010 Timber Lane, Gerald, MO 63037 (A) COLLECTOR BUYING AND SELLING published U.S. National Bank Histories and other publications! Offer what you have; send your "Want List." Bob Cochran, PO Box 1085, Florissant, MO 63031 (PROUD SPM- CLM69) (252) All' HORS RECEIVE FREE CLASSIFIED AD. Write now (PM) LINCOLN PORTRAIT ITEMS. Collector desires bank notes, scrip, checks, CDVs, engraved/lithographed ephemera, etc. with images of Abraham Lincoln for book on same. Contact Fred Reed at P.O. Box 1 181 62, Carrollton, TX 75051-8162 or freed3tvairmailmet (252) HUNDREDS OF PAPER MONEY MAGAZINES FOR SALE from before I became Editor back to 1960s & 1970s. I bought these filling sets. Fill your needs now. F mail me freedAtairmail.net & I'll sell you what I got! (252) WANTED. Canadian Chartered Bank Notes. Wendell Wolka, PO Box 1211, Greenwood, Indiana 46142 (252) AUTHORS RECEIVE FREE CLASSIFIED AD. Write now (PM) CASH FOR BOOKS, PLIBLICATIONS, DOCUMENTS related to finance, leas- ing, law, bail bonds, banking, accounting, royalties, insurance, mortgages, etc. www.Richardl lopp.com (818) 902-0532 (254) WANTED. OBSOLETES AND NATIONALS from New London County CT banks (Colchester, Jewett City, Mystic, New London, Norwich, Pawcatuck, Slonington). Also 1732 notes by New London Society United for Trade and Commerce and FNB of Tahoka Nationals #8597, David Hinkle, 215 Parkway North, Waterford, CT 06385. (254) Take Note: SPMC now accepts commercial Money Mart acts Sell your duplicates; advertise your wants Best paper market place anywhere Annual rates begin at only $20.50 As you can see; we have space for YOU Contact the Editor: fred@spmc.org Permanent Wants: Paper Money Editor desires Articles on small size U.S. currency What are YOU waiting for? 218 TC&Co TC&Co FC&Co TC&Co TC&Co TC&Co TC&Co TC&Co ABNCo February 7, 1857 Farmer & Mechanic (Wheelwright) March, 1857 Cooper March, 1857 End Piece Ship Carpenter (Picture duplicated by error) July 1, 1857 End Piece Indian September 15, 1857 Sailors Killing White Bears December, 1857 Indians Attacking Emigrants May 30, 1858 Indian Buffalo Hunt October 20, 1858 'Fail Piece Sailors Taking In Sail December 22, 1859 Indians In Council (for) Samuel Carpenter Nov.1, 1862 Nooning ABNCo June 5, 1863 End Piece Soldier Praying ABNCo October, 1864 Ploughing ABNCo May 11, 1865 Nooning CBNCo July 16, 1864 Marshall Discovering Gold CBNCo November 3, 1865 Emigrants CBNCo February 2, 1866 Loading Cotton CBNCo March 6, 1866 Farmer Resting CBNCo March 6, 1866 Harvest CBNCo March 31, 1866 A Hunter Of The Rocky Mts. ("A Knight Of The Prairies") CBNCo March 31, 1866 Stone Cutter CBNCo May 7, 1866 Sailors Lounging (Three Sailors) CBNCo December 26, 1866 Cutting Corn end piece I regret any confusion that this may have caused the reader. Terly A. Bryan Paper Money • May/June 2007 • Whole No. 249 219 Dear Editor, In my article on the bank note vignettes of Felix Darlev, March/April 2007, I listed vignettes enumerated in Darley's ledger book on pp 98-108. Photos and Italic captions of vignettes were interspersed with the listing. The ledger listings corresponding to these added illustrations were left out, replaced by the picture cap- tions, which appeared at the right dates in the listing. It would prob- ably have been clearer to have put the following titles into the list in their proper places, in addition to the pictures and Italic captions. In addition, the picture Ship Carpenter appeared twice in error. TCC&Co October 11, 1853 Cattle A larket TCC&Co November 1, 1853 Negro Husking Corn TCC&Co December 1, 1853 Woodcutters TCC&Co February 2, 1854 End Piece Negro Picking Cotton TCC&Co February 22, 1854 Catching Horses TCC&Co March, 1854 Blacksmith TCC&Co March, 1854 End Piece Blacksmith TCC&Co May 4, 1854 Landing Of The Pilgrims TCC&Co October, 1854 End Piece Girl Feeding Chickens TCC&Co October, 1854 End Piece Ship Carpenter TCC&Co October, 1854 End Piece Farmer Feeding Horse TC&Co April, 1855 Killing Pigs TC&Co May 16, 1855 Miners At Work TC&Co December, 1855 Paul Jones Boarding A Ship TC&Co February, 1856 Boy Watering Horses TC&Co February 10, 1856 Surveying TC&Co February 7, 1857 Picking Corn WANT ADS WORK FOR YOU Money Mart ads can help you sell your duplicates, advertise your want list, increase your collection, and help you have more fun with your hobby. Up to 20 words plus your address in SIX BIG ISSUES only $20.50/year!!!! * * Additional charges apply for longer ads; see rates on page opposite -- Send payment with ad Take it from those who have found the key to "Money Mart success" Put out your want list in "Money Mart" and see what great notes become part of your collecting future, too. (Please Print) ONLY $20.50 / YEAR ! ! (wow) 220 May/June • Whole No. 249 • Paper Money The Story of a Rose, Four Lazy Deuces and Two Casinos by Martin Rogan Figure 1. Bankers Row, Norwich, CT T ITTLE DID THE INHABITANTS OF THE CITY OF Norwich, CT in the mid-nineteenth century, realize that one day it would become a city surrounded by two of the world's largest casi- 4 nos, namely Foxwoods and Mohegan Sun. Norwich is fondly known as the "Rose of New England" since it is surrounded by nine hills (comparable to the petals of a rose) with Norwich in the center. There is also a lovely garden called "The Rose Garden" in close proximity to centrally located Mohegan Park. Since its founding in 1659 the city has remained a quaint municipality tucked away in the foothills of Eastern Connecticut. During the Revolutionary War, Norwich was a vital seaport being in a strategic location at the head of the Thames River and a few miles up river from the larger coastal port at New London, CT. Norwich residents and industry played a key role in the Revolutionary War. Samuel Huntington, a Norwich resident, was one of the signers of the Declaration of Independence. The infamous Benedict Arnold was also a Norwich native (to the dismay of many Norwich citizens). During the Wars of 1812 and the Civil War, Norwich industry provided the supplies and tools to support the war effort. After the Civil War, the National Banks and savings banks were the main source of funds to fuel industry and supply housing for workers. Many of these banks evolved into the banking institutions which are presently in the city today. Probably never in the minds of the early bankers would they foresee the development which has taken place surrounding the city in recent years. Millions of dollars flow through Foxwoods and Mohegan Sun casinos each day. These two casinos are within a few miles of the center of Norwich. Either casino has capital thousands of times greater than any of the original National Banks of Norwich of which there were seven, namely: I. The First National Bank, Charter #65 & #458 2. Merchants National Bank, Charter #1481 3. Norwich National Bank, Charter #1358 4. Second National Bank, Charter #224 5. Shetucket National Bank, Charter #1379 6. Uncas National Bank, Charter #1187 7. Thames National Bank, Charter #657 Paper Money • May/June 2007 • Whole No. 249 221 New SPMC Librarian's Notes debuts; Jeff Brueggeman say's "hello" IWOULD LIKE TO THANK SPMC FOR ALLOWING me the opportunity to be the Society librarian. It is just a small amount of work in exchange for the benefit of having several hundred additional books on paper money in my house. The dozen paper money collectors whom I know in Chattanooga, Tennessee will also benefit greatly. SPMC Librarian's Notes By Jeff Brueggeman, PhD The only unfortunate consequence is that Paper Money loses a standing column by Bob Schreiner. His numismatic knowledge, web skills, and knowledge of small publishing are much advanced compared to my own. Luckily, T have his phone number and e-mail address. And Bob has always been very gracious when I have asked him for help. I am enthusiastic about books, but am also enthusiastic about information in general. Over the last decade, how peo- ple view and use information has drastically changed. The internet has brought some great references to our fingertips, and has made it much easier to collaborate on larger projects. Instead of one man working on a project by himself, it has been much easier to find help. References can be updated very quickly when new facts are discovered. We no longer have to wait for a new edition of a printed book to arrive. Finding information has never been easier. While indices in books are often very robust, they can never be complete. Now with an electronic format one can search for a phrase of words almost instantly. Hopefully, we will be able to use the web in creative ways to increase the public's knowledge and interest in paper money. In future issues of Paper Monty, I plan to bring sources of information to your attention as well as propose outlines of new projects which I believe would benefit the community of paper money collectors. I also plan on outlining what is held by the library currently, as it is a large amount of material. If anyone would like to borrow a book or have an article of Paper Money photocopied, please do not hesitate to get in touch with me. Our library catalog is on the web at www.spmc.org. We only ask that you reimburse postage and a small fee of 25 cents for each page photocopied. My e-mail address is jawaweaponsmith@hotmail.com , and my mailing address is: SPMC Library Jeff Brueggeman, Librarian 711 Signal Mountain Rd. #197 Chattanooga, TN 37405 WANTED: New Advertisers The quality of our SPMC Journal and information available to YOU depends on the quality and quantity of our I IL ADVERTISERS It's a fact: advertising plays an important role in funding this high quality magazine Dues only cover part of costs Our advertisers do more than sell you notes; They bring you our magazine -- So pay them back with gratitude: your business! J Buying & Selling Quality Collector Currency •Colonial & Continental Currency •Fractional Currency •Confederate & Southern States Currency • Confederate Bonds •Large Size & Small Size Currency Always BUYING All of the Above Call or Ship for Best Offer Free Pricelist Available Upon Request James Polls 4501 Connecticut Avenue NW Suite 306 Washington, DC 20008 (202) 363-6650 Fax: (202) 363-4712 E-mail: Jpolis7935@aol.com Member: SPMC, FCCB, ANA ShOnckig,NattitilkalBank, 14164:14 4 C , .4 0-, _d,21 222 imaza4ArktkfamiattWAIN**: 18620 ,/;„„„„/ , ,,;, /;‘'cliaanciumminz canirgrpruraurermarra tiornalBank• I G472 iv* ta 77777,,, May/June • Whole No. 249 • Paper Money Figure 2. $2.00 Lazy Deuce- Shetucket National Bank Figure 3. $2.00 Lazy Deuce- Thames National Bank Figure 4. $2.00 Lazy Deuce- First National Bank Below: Figure 5. $2.00 Lazy Deuce- Uncas National Bank Many of these banks were located along "Bankers Row" on Shetucket Street. (Figure 1) In 1885 the Thames National Bank, The Norwich National, The Uncas National, and Second National were on Bankers Row. The Merchants National and the First National Banks were on Main Street and the Shetucket National Bank was on Commerce Street. Today most of the banks have disappeared from Bankers Row having been relocated to other parts of the city and its suburbs. The main building in the center of town is a courthouse. Paper Money • May/June 2007 • Whole No. 249 Trkilvtit-t,401.1 . 1k itt:#1V I at j ///////,/7 ./ / r'14)t-1) . it St. Louis Welcomes You to the 22 11d Annual 223 t-- National and World Paper Money Convention Nov. 8-10, 2007 PCDA Thursday thru Saturday, XXXXXXXXXXXXXJ7 PCDA (FREE ADMISSION) St. Louis Airport Hilton Hotel, 10330 Natural Bridge Road, St. Louis, MO Rooms $99.00 Call (314) 426-5500 Rate Code PRO-1 All Paper Money Bourse Area Lyn Knight Auction Society Meetings Educational Programs Complimentary Airport Shuttle Show Hours: Thursday 9am-noon (Professional Preview) $50 fee Public Admission Noon-6pm Friday 10am-6pm Saturday 10am-6pm Bourse Applications: Kevin Foley P.O. Box 573 Milwaukee, WI 53201 414-'421-3498 Email: kfoley2@wirr.com And Ron Horstman P.O. Box 2999 Leslie, MO 63056 Figure 6. Stock Certificate- Uncas National Bank 11. 111111. V* t4),1.10 t.) 10, . - //4. //// ///i 1 r //// ( /1114/ • ;G/ r/// / // ////)/ /11/%' /// // ////// ///f/ /7///// //.a< i///X//1///,'/A,/i4i /./..-,/,/;-/y/./////4"- /,///// 7/7, ///////// .".;;//// 4//i/ ////,/ //- /-/ //w/ ////////i/ //.////////// ( (jilt (mtitifintiitittiFfer,,, ;;.; //'.'//7/// 4'4;/../7/; ///e//////, ';// /A/7 ' + 6,://;(,,, , ,,//// /4_ 224 May/June • Whole No. 249 • Paper Money All of these national banks issued large size currency. One of the most interesting series of these notes are the original $2 notes or Lazy Deuces. Five of the seven banks issued these notes but there has been no reports of a Lazy Deuce from the Merchants Bank (Charter #1481) which indeed did issue these twos. Pictured are Lazy Deuces issued by the remaining four banks. (Figures 2, 3, 4, and 5). The $2 bill pictured and issued by the First National Bank is claimed to be an original issue. The capital of all these seven banks incorporated in the 1800s was approx- imately two to three hundred thousand dollars each and any contributions or taxes to the State of Connecticut was minimal. The officers and directors of these original national banks would be sur- prised that today two "neighboring" casinos would contribute millions to the State of Connecticut Treasury each year. In calendar year 2004 alone both casi- nos forwarded a total of $402 million to Connecticut as a share of slot machine revenue. Since 1993 both casinos have turned over $3h billion to Connecticut. Foxwoods Casino was founded by descendents of the Mashantucket Pequot Indian Tribe and Mohegan Sun was founded by the descendants of the Mohegan Tribe. The grand Sachem and leader of the Mohegan Tribe was named Uncas. The Uncas National Bank was named for him. The original Uncas Bank Stock Certificate (Figure 6) has a vignette of Uncas overlooking tribal lands bordering the Thames River where the Rose City, Norwich, CT now stands. Some day perhaps this "Rose of New England" could, in addition to Las Vegas and Atlantic City, become one of the "Casino Capitals of the U. S." References Connecticut Division of Special Revenue, Transfers To General Fund Through April 2005, dated June 2005. Johanessen, Severn T. Bicentennial Sketches of History and Nostalgia, Thames Printing, June 1976. Walcutt, Doug. "Varieties of National Bank Notes, Part 12," Ragpicker, Paper (Vol XXXII Number 2, April, May, June 1997). Money Collectors of Michigan. n. °mom RED BOOK Southern Slates Currency tbosi.ei Paper Money • May/June 2007 • Whole No. 249 225 Spotlight falls on new paper money books; Authors dish up a banquet of delicacies VT, OLDE EDITOR LOVES BOOKS. HE READS 1 books, writes books, edits books, collects books, and belongs to the Numismatic Bibliomania Society. Recently he had the pleasure of visiting a fellow author, the redoubtable Eric P. Newman who is readying a fifth edition of his classic The Early Paper Money of America. A personal highlight was autographing copies of two of Ye Olde's books right off the library shelves in Eric's sumptuous new St. Louis museum. It's not type-casting that his surname REED stems from the bull rushes that Moses parted to cross the sea, and that scribes sharpened to record his progress on papyrus. Ye Olde's predilections were fore ordained. For several years now, he has wanted to feature books in a more prominent way in our Society's Journal, but paper money books are too infrequent to do special issues or even special sections until now. What we have now, however, is the perfect storm of miti- gating events: a large number of tine new works, substantial improvements to standbys, and a backlog resulting from back- to-back special issues which were way over-full to begin with. The wraps are off in these eight pages which offer works for your consideration in this Special Book Section. Some may be new to you. Some you may already own. Some selec- tions may even surprise you. One is a book event by messrs. Bowers and Sundman in progress. Upcoming books are introduced, too! Each is worthy of your consideration. My colleagues Bob Schreiner, John & Nancy Wilson and I will attempt to give you peaks under the covers to bolster your book libido, too. Fred Reed signs his Civil War Encased Stamps, while Eric Newman peruses Reed's Show Me the Money! in the study library of Eric's museum. (photo courtesy Dave Kranz and Bank Note Reporter) In the past three years, our Society has held three very successful author's forums, which have provided a platform for a bevy of authors, prospective authors, book readers, and pub- lishers to engage in their mutual hooky pursuits. Asa co- sponsor of these events, Ye Olde invites readers with devel- oped book muscles to contact the Editor for possible calis- thenics at a forthcoming author event. -- Fred Reed Hugh Shull dons Criswell's 'King of Dixie' currency mantel I 'F'S A PLEASURE TO REVIEW AN OUTSTANDING book, and a double measure of sunshine to review one by a friend. Hugh Shull's new A Guide Book of Southern States Currency (Whitman, 2007) exceeds both standards. "Southern States" currency was invented by Capt. John W. Haseltine as a marketing ploy, and just because it was a successful ad scheme doesn't mean it's not a worthwhile distinction. Dixie politicians found it irre- sistible to float indebtedness on a sea of fiat paper, that became widespread, worthless, and -- because it was so plentiful and cheap -- a worthwhile pursuit for collectors. The late Grover Criswell supplied a handy com- pendium. Hugh Shull takes it to the next level. Everything about this book is first rate. Organized state-by-state, author Shull marches the col- lector across Dixie and the near South alphabetically in a most educational and colorful way. Inclusion of Oklahoma Indian Territory is a welcome addition for this adopted Okie. Shull, a frontline veteran of 30+ years in the numismatic trenches, is the perfect heir to assume Col. Grover Criswell's currency cape in this active arena. A continuation of Criswell's 50-year old numbering system is a decided bonus. Nobody likes wasting time reclassifying large collections. Shull's expertise is matched by the research/writing tal- ents of Wendell Wolka, also a friend, a collector of note for 30+ years and author of two standard state obsolete note cata- logs himself, who provides interesting background material. Complement that with access to Gene Mintz' star-studded collection, and this full-color book fires on all cylinders. Historical background, rarities and values are provided for each variety, with a great many illustrations of exceptional quality. Shull, whose semi-annual catalog has been a valuation guide of sorts for years, is especially attuned to providing the realistic pricing in this new book. The 434-page book is spiralbound hard cover, Whitman's innovation that allows books to lay flat On a table top when open and in use. This will be a big plus for owners and assure that the book is frequently pulled off shelves and enjoyed. This book is available everywhere, but you can obtain autographed copies from the author for $29.95 plus $5 postage at POB 2522, Lexington, SC 29071. At press time we were advised by Whitman publisher Dennis Tucker that Shull and teammate Wolka will also write A Guide Book of Confederate ClIrrellty to be released in 2008. So stay tuned! We expect another great book. -- Fred Reed + INTO THE HARD TIMES ERA I N Tho decade of the 1820s had been marked by relative stability m American banking. Following the economic problems of 1818 and 1819. many weak banks failed in 1820 and the next year or two after that. Then. eccniontic conditions became stronger as the years went on. The introduction of high ponective midis in 1828. signaling Mc advent of the -American Sys - spurred the growth oftem. domestic industries. The South objected In this new system as it was harmful To the export oft:omit,. Most hanks prospered (hiring I820s. punctuated with relatively hoc exceptions. In sharp contrast. the 1830s would prove to he roller coaster of good time. and had in the economy and in banking. In 1830 Mere were an estimated 330 bank, doing business in the linked State with a stated capital of about S145000000. After Andrew Jackson, veto of the charter renewal for the Bank of the United States in 1832. it was generally realized that the future of banking lay with state-chancred inutio although proposals In, new loom of a nation stit al bank ns, wcrc neatly cnuous. Many new onti banks wore formed with the result that by 1838 Mete were 011 estimated 829 banks in opera- tion with stated capital of S317.000.000.. In the Wes,. whet . newtowns and cities were being laid om and real otatc was booming for much of the dvcade hanks sprung up like mushrooms after a spring rain IMichi- the war. elks tally maim loos in din regard): thew are t of chapter 13. In the meantime there were significant changes in commerce. This was the decade of the rise of the railroad cortplcd with the decline of canals. tho latter having, been Mc great growth bits in recent decades. Cotnnterce was now conduactl At faster pace, with rapid connections laid out between the larger cities. Communicariotts took plavv at the speed of a train. no longer at the pace of a horse. The telegraph was yet to come. Bank notes reflected the transition. and 110 d011ht an esuy on rail cornmetcc of the era could be effectively illustrated with train vignettes on bank rm.,. 'limes were generally good in the early 1830s, and for the hank.notc engraving companiu ,he increase in charters was a godsend. Business expanded to a degree not before thought imaginable. It was A wonderland of artistic beauty—with bank notes becoming more ornate Man ever before. Buz the year 1836 was the vacs, the top of the roller cowler. after which thole came a deep plunge downward into economic and banking !noble°, with no precedent in American history. The date of May 10. 1837, would become etched in history. The last three years of the decade would include the 1110S1 pivotal, 1110SI diverse. and most CltlrflAiVI: ,ondlinmion of banking scenarios and curren in the entire eta of state hank-note issuing, front 17 cy 82 to 1816. Ft Wu OBSOLETE PAPER MONEY issum KY RANKS IN 'f HE UNITED SIM I • Q. David Bowers 226 May/June • Whole No. 249 • Paper Money Bowers' latest opus another virtuoso performance NANCY AND I OBTAINED A COPY OF DAVE Bowers' Obsolete Paper Money Issued by Banks in the United States, 1782- 1866 (Whitman, 2006). It is a fascinating refer- ence and probably will contend for the "Book of the Year" at the Milwaukee 2007 Numismatic Literary Guild Bash. Obsolete American paper money is covered accurately and intensively from the first note in 1690 through the end of the Civil War. It also manages to touch on items such as wampum, encased postage stamps, Confederate currency and others. Q. David Bowers has again authored a comprehensive and fascinating account of an interesting, but until recently neglected area of numismatics. Many interesting facets of paper money are covered in detail with the complete story behind the event. In the 608 pages people like Jacob Perkins and Abner Reed have their numismatic stories told in detail. Periods in time such as the age of elegance, Hard Times, the golden era of the 1850s, and others are explained in detail (see below). Mr. Bowers, in his unique, fascinating writing style, dis- cusses how to collect obsolete notes. He provides a short explanation of the elements of bank notes and how to read and understand the standard reference works on the subject. Extensive general information about collecting obsolete bank notes is also provided. We recommend this book for all numismatists, both beginning and advanced and believe all will learn much about paper money. This interesting and fascinating reference is available in a hard bound and special leather bound edition. The publisher of the book can be reached at: Whitman Publishing, LLC, 3101 Clairmont Road, Suite C, Atlanta, GA 30329, (800) 546-2995. --John & Nancy Wilson Another on counterfeit deterrents next magazine marking our 250th issue. We don't need to gild the lily. But as someone who eagerly anticipated this book's release late last year, I confess I was more than amazed when my copy arrived on the eve of November's St. Louis paper money show. I spent four hours that night, when I should have been packing for my early morning flight, consuming - and consumed by the scope and presentation. Bowers is at the top of his authorial game. Copies of this book were the "buzz" on the St. Louis show floor and rightfully so. Many of you probably already have purchased this book so I'm sure you share my excitement. If you haven't, don't be scared off by its price $69.95. I'm here to tell you that you will be well compensated for your lucre. There are hours, days, and weeks . . . a lifetime of education and entertainment packed within its 608 finely-crafted pages. The book is hardbound with dust jacket, oversize, and absolutely full color throughout. Twenty-one narrative chap- ters, and an appendix on the American Bank Note archives, draw readers into the American saga of currency and cronies. Bowers' forte is to intersperse his narrative with con- temporary historical references, and this work supplies a feast of reprinted gems. These citations do more than bulk up a book. In Bowers' case these documents amplify his conclu- sions, and also open vistas on the past for readers/researchers for whom the originals would be unattainable. Bowers also shares with this writer a penchant for pro- viding a great deal of illustrative matter and content captions which reinforce and extend the book's narrative line. Don't hesitate on this one; Tom Denly calls it "the best paper money book in years." Toni should know, and who am I to disagree? -- Fred Reed BOOKS MAY COME, AND BOOKS MAY GO, BUT one constant remains: if there's a numismatic subject, Dave Bowers will seize upon it and amaze all of us with anoth- er magnum opus. After 50 numismatic classics -- beginning with Coins and Collectors some four decades ago -- he's still at it. Feel free to tout your own Bowers' favorite: be it silver dollars, gold, sunken treasure, great collectors, ANA history, coin-operated musical instruments, 100 great notes, et cetera, et cetera, et cetera -- I have found mine. It's now Obsolete Paper Money Issued by Banks in the United States, 1782-1866 (Whitman, - 2006). This is truly a book Tom Hanks and his beach ball could be marooned with on a desert- ed island, and not notice a steamer on the horizon because his character was too absorbed in this book's contents. Readers of this pub- lication have already viewed this book's smoke rising towards the heavens. Several portions of Bowers' obsolete book have been excerpted in these pages over recent months. will be the lead story of our 4 , THE WINCHESTER BANK G.! SMIRK , OATTY 1 / // One Dollar tihr 0."152MIDAk"'"W•aa' NATIONAL Cl nt '31.1.1zer,u 1,4eft "•le86rAja-174 with Iliratke rootirrr 3 ttiliAtna 4 ,(;. , - ). 14 ,8e7 Atrat 7 'COGYAILLAWCACii 11 1.4TE 1)0i t tranrctlax1r37:A=Zr; A typica l N11 Obsolete Note, this from the Winchester Bank. A Series of 1882 $10 Brown Back front the Winchester National Bank. this same building WilS used for the Winchester Bank and its successor, the IVincliester National Bank. teller window circa 1910, Winchester National Bank I f you have New Hampshire currency or old records or correspondence relating to the same, or other items of historical interest, please contact us. In addition, Bowers and Sundman are avid collectors of these bills and welcome contact from anyone having items for sale. We will pay strong prices for any items we need! Visit the NH Current). Study Prtnect website: www.nluanTetuTrom. Find a listing of New liampshire banks that issued currency, wild sample chapters, and mow. We look forward to hearing front you! The NEW HAMPSHIRE CURRENCY STUDY Project Box 539, Wolfeboro Falls, NH 03896 E-mail: infoWnhcurrency.com (lino Cattail will he finwahled to both authors.) 700211111111■11111M 111=11111iliii11•11=111 •111=1111111=1=MINIMIIIIM 1111E1111533a1111■1 www.ithcurrency.com Paper Money • May/June 2007 • Whole No. 249 227 An Invitation from The NEW HAMPSHIRE CURRENCY STUDY Project Q. DAVID BOWERS and DAVID M. SUNDMAN are involved in a long-term project to describe the history of all currency issued in the State of New Hampshire, as well as to compile a detailed registry of all known notes (whether for sale or not). Our area of interest ranges from early colonial times through the Revolutionary era, the state-chartered bank years (1792-1866), and the era of National Banks (1863-1935). This will result in a book under the imprimatur of the Society of Paper Money Collectors, with help from the New Hampshire Historical Society, the Smithsonian Institution, and others. Apart from the above, David M. Sundman is president of Littleton Coin COMptilly and Q. David Bowers is a principal of American Numismatic Rarities, LLC, and both advertisers in the present book. For other coonnercial transactions and business, refer to those advertisernents. The authors of the present book, holding a are Series of 1902 $10 National Bank Note from West Derry, New Ilampshire. ITT n.1 R. SHAWN HEW atieft 1,1, J. :my.. Mwenler A Hilmo, Gmrlog 141 286 OBSOLETE BANK NOTES cf y • - SCRIP 228 May/June • Whole No. 249 • Paper Money Elaborate Hewitt Minnesota volume sets a high standard C 0 U C) O O U V') ct:1 c7i C) 0 cr) A HISTORY & CATALOG OF MINNESOTA OBSOLETE Bank Notes & Scrip (R.M. Smythe, 2006) is subtitled "A Comprehensive Guide to Minnesota Paper Money From the Era of Minnesota Territory To the Great Depression," indi- cating the broad scope of this book, considerably more inclu- sive than the usual obsolete period ending with the Civil War. Shawn Hewitt lists 14 categories ("classes"). In addition to expected obsolete bank and merchant scrip categories, he includes Labor Exchange scrip (1890s), savings scrip (I 920s), Panic of 1907 scrip, college currency, advertising notes, and others. The book is divided into three parts. The first section, 19 pages, includes general introductory materi- al, such as use of the catalog, printers, an explanation of the categories, an excellent diagram "Anatomy of a State Bank Note," and an extensive bibliography. The middle section, 120 pages, contains general historical information. The last section, -160 pages, is the catalog, which also has historical information on issuers, one to several paragraphs each. The book distinguishes itself in several ways. The gen- eral historical section has more depth than perhaps any other state book. Hewitt doesn't try to do it all himself. He draws on recognized specialists for several topics, including Forrest Daniel, Neil Shafer, David Schenkman, and Gene Hynds. He includes numerous state maps showing the evolution of the boundaries of the state and the location of issuers. There is information about the variety of issues—organized around the author's 14 categories—and the broader historical setting, including local and national legislation and the effect of eco- nomic conditions. This book is not unique in including more history than most earlier efforts, and that is a welcome trend. The catalog is organized by place name, then issuer. The catalog was produced using a computer database designed by Hewitt to systematically collect and organize the extensive data about notes and issuers. In developing the database, he first had to define the classes and attributes that would be ascribed to the notes. The computer database can then ensure that the data for each issue is consistently and completely recorded. Once a database is populated, it can produce "reports" organized and sorted at will. The reviewer has some knowledge about such databases, and has examined Hewitt's system. The application is excellent, and could help other compilers of state paper money information. The catalog includes the expected rarity and value infor- mation. It also has separate sections with census information for each issue, produced once with detail on every item in the database, and again as a checklist for the collector. Shawn Hewitt and contributing - authors Charles C. Parrish, Steve Schroeder, and Gilmore J. Sem have made a significant contribution to our knowledge of paper money, which should appeal to a broader audience than just collectors and historians of that state. Published in late 2006 by R. M. Smythe, 2 Rector Street, 12th Floor, New York, NY 10006, 620+ pages, retail price is listed at $69.95 plus $5 shipping. -- Bob Schreiner • S HAWN HEWITT'S NEW MINNESOTA BOOK IS A L./terrific reference that sets a new standard for state obsolete bank note books. The book gives complete information on Minnesota obsoletes along with a detailed census on all recorded Minnesota issues. Hewitt and co-authors Charles C. Parrish, Steve Schroeder, and Gilmore J. Sem have done a wonderful job. We especially like the rarity rating's and prices in several different grades along with pricing for proofs, issued notes and remainders. The book contains 14 full color pages of notes, along with hundreds of black and white images. The major categories of obsoletes are described by experts in their respective fields. This book sets a new standard for paper money books that cover the state issues. We highly recommend it for personal libraries. It is a must for all paper money collectors. -- John and Nancy Wilson + VVHAT CAN I SAY? THIS BOOK REALLY does set a new presentation standard in the state obsolete catalog . field. For me the high water marks had successively been George Wait's New jersey's Money (1976), Richard Jones' and Keith Littlefield's Virginia Obsolete Paper Money (1992), and Money and Banking in Mari/and (1996) by Denwood Kelly, Armand Shank Jr., Tom Gordon, Stuart and Eleanor Bruchey. Significantly all those volumes were created with assis- tance of historical societies and/or numismatic organizations. Austin Sheheen's gorgeous, self-published South Carolina Obsolete Notes and Scrip (2003) added the element of full color plates. But Hewitt, his collaborators, and R.M. Smythe are to be congratulated for raising the bar once again. This book is not only beautiful, but a serious work of scholarship, too. My co-reviewers address complexity, which is to be commended, but for me, the quantum leap in terms of cover- age here is the note census data contained within its covers. A computer professional, Hewitt has linked information gather- ing. to information disseminating is a most useful way for col- lectors. Others should follow his example. A second innova- tion is use of banknote reporter illustrations as applicable. I had opportunity to talk shop on book publishing with Steve Goldsmith, this book's editor, for nearly an hour at last fall's St. Louis paper money show. His firm, R.M. Smythe had previously published Vlack's ad note book, and Fricke's CSA note book, both fine volumes. There are improvements in evidence here, though. Typography is reader friendly; paper quality, illustrations, and organization better. "We're learning'," Goldsmith said. And I agree. He also told me Smythe intends to publish an Illinois book, and others by debuting a new book about every year. Bravo. This book was supported by SPMC in a small way. Several articles from Paper Money are reprinted with permis- sion, and the Society awarded Hewitt and coauthor Charles Parrish its 2005 George W. Wait Memorial Award. As judge for the Wait award, I can honestly say that the $500 stipend was well advanced in support of this very worthwhile project. And furthermore, author and publisher have been VERY gen- erous in their frequent mentions of the Society in its pages. As a partnering venture, SPMC is well rewarded, and you will be too if you buy this book. -- Fred Reed Paper Money of the United States FROM CLAONIAL 111Al5 00 FNE P10.51AT 1IANDARO REIIIFINCE WORM ON YAM MOW/ A COMYLE11 WITH VALAANAYI, C 3 • Large size notes • Fractional currency • Small size notes • Encased postage damps • Colonial and Continental currency • Confederate States notes . uT L and Ira S. Friedberg 111111171511616111.111111.■ or d Ili( ix, Paper Money General Issues • 1368-1960 Edited by George S. UM] WOE DLL AMIE ONO MI 1.I.F: FRANCS .3 Le, -.6 r• PS Y. afir The World's Authority on Paper Money Paper Money • May/June 2007 • Whole No. 249 229 New editions update classic U.S., world paper money catalogs PROBABLY NO READER OF THIS MAGAZINE IS unfamiliar with Friedberg's Paper Money of the United States, and most will have a copy (perhaps several editions) of the book close at hand. It is the "bible" for collectors of U.S. federal paper money and has been for decades. PMUS (Coin & Currency Inst., 2006) is a standard. It needs little in the way of introduction and no hype. There have been other works which cover much of the same material. One is reviewed in this section. Another was reviewed in our Nov/Dec 2006 issue. Both works, and other abbreviated spe- cialized works, are helpful for their distinct approach- es, but there is only one "must have" work in the U.S. federal paper money field, and this is the one! It's as true now as when this writer inter- viewed co-author Art Friedberg nearly 30 years ago, discussing the rise of competitors during the 1970s. He was not wor- ried, Art said with assur- ance and maybe a glimmer of youthful cockiness -- "We own the numbers." And for 54 years, since Bob Friedberg stamped his Coin and Currency Institute on his self-published gem and invented the Friedberg Numbering System, Paper Money of the United States has owned the only numbers one will see on EVERY paper money holder. You rimy see a price. You may see a lot number. You may see an assigned grade. You may even see a screwy proprietary alpha-numeric code to help a dealer figure out how much to charge you for a particular note. But you definitely will see its Friedberg number. It's been that way for two generations now, and that dear readers says it all. A numbering system is only the platform, of course, and Friedberg pricing has been a staple for many years, too. In this 18th incarnation, editors Art and Ira Friedberg, have done more than merely updating pricing, however. Contributors to any edition include a "who's who" of the paper money field. The latest iteration includes all its standbys, of course, nearly a thousand photos, all large, small and fractional series covered, signature combinations, prices, Colonial/Continental, Confederate and War of 1812 issues, encased stamps, a list of note-issuing national banks, and included recently price appre- ciation charts, and a color type note section. But one of the hallmarks that has kept this volume "fresh" as well as necessary is evolution of its content. A key aspect of successive editions has been the recognition of new varieties and expanded coverage. For the 18th edition, this includes a complete listing of Large Size star notes, a section on U.S. paper money errors, updated small note coverage, and recog- nition of new varieties of Civil War-era legal tender notes. At 352 jam-packed pages, hard cover, large format, and a list price of $42.50 plus $4.75 postage, you send orders to Coin & Currency Institute, P.O. Box 1057, Clifton, NT 07014, or buy this book just about anywhere. What are you waiting for? -- Fred Reed I -FRE IS ANOTHER OLD STANDBY, THE 11TH ledition of THE book in its field. Readers know what to expect and receive it in spades. Any book that goes through multiple editions over decades has proven its utility in our hobby. In fact, much of what is said about the other book on this page, could be duplicated in any review of Standard Catalog of World Paper Money, General Issues, 1368-1960 (Krause Publications, 2006), edited by George Cuhaj. Chet Krause and Cliff Mishler have been geniuses in many ways. They certainly were visionary when they invited Albert Pick to cross the Atlantic in the 1970s and collaborate with them on the first "telephone book" Standard Catalog of World Paper Money, which Pick authored in 1974 and was co- published by Battenburg Verlag Munich. Pick, a collector, author and paper money museum cura- tor, was widely acclaimed as THE foremost authority of the time on worldwide paper money. He attacked global paper money with both panzer and pincer movements, laying the basis with typical German-verve for what has now become an international collecting scene and this multi-volume series. Pick's initial effort won him SPMC's Nathan Gold lifetime achievement award for concrete contributions to the science of paper money collecting. The revised, 2nd edition of the cata- log appeared three years later, topping 700 pages. Colleague Russ Rulau was senior editor then; Colin Bruce, coordinating editor; and Neil Shafer, consultant. I still have the autographed copy Russ gave me way back then. Even readers who never knew Pick only his "num- bers," doubtless know these gentlemen and their many contributions. Years since, the Standard Catalog of World Paper Money has grown and grown and grown. Fortunately unlike Topsy -- under tutelage of Neil Shafer, Cohn Bruce, et al. --these "foreign" notes have been tamed, and become a lot better understood and more enjoyable to collect. Maps, chronologies, etc. amplify listings. Herr Pick collected "the world." Due to multiplicities of issuers and issues down through time, probably no one collects "the world" anymore, however each of the present three vol- umes (additionally: 1961-date notes, and specialized issues in separate volumes) provides multiple reasons for enthusiasts to desire each new edition as they appear on rotating bases. Try collecting world paper money without these catalogs. It can't be done efficiently. Everybody uses Pick-numbers, and revisions to these catalogs are eagerly anticipated between editions. Present editor is George Cuhaj, about whom more later, is the consummate professional. Soft covered, large format, 1,248 pages listing 15,500+ notes priced in up to three grades at $70; George and his teammates have assembled 5,800 illustrations in this volume to assist the collector in getting more fun out of his hobby. Availabile: worldwide, of course! -- Fred Reed "is 60/40,-%‘" Tom cmorvimesi /4,74,./(// 77:/1/ (-4&:)//e(7../3/ ,A11L— •SU kw, Tin 2114====fri 46k<6.)t THE COINAGE OF AUGUSTUS SAINT—GAUDENS .1, 11111,11,1it'd I'ttit.i.ii H. Mo is' i 1.1-.CT I r James L. Halperin Mork Von Winkle ion Amato Gregory J. Rattan May/June • Whole No. 249 • Paper Money230 iv-A4-1W(i tit eriffic new book shows ragpickers one and all what gold coin imsto the bearer once actually IT MAY NOT BE "ORDINARY" TO REVIEW "COIN" BOOKS IN A paper money publication, but this is no "ordinary" numismatic work, and it has important implications for us ragpickers, too. In The Coinage of Augustus Saint-Gaudens as Illustrated by the Phillip H. Morse Collection (Ivy Press Inc., 2007), co-authors Jim Halperin, Mark Van Winkle, Jon Amato and Greg Rohan, pour a century or more of numismatic expertise into an instant classic worthy of any collector's shelf. Besides, fellow ragpickers, let's take a reality check: what do we paper money enthusiasts think our Gold Certificates redeemable in gold coins were printed for anyway? Look at the face of the notes (see above, if you've forgotten): "This certifies that there have been deposited in the Treasury of the United States in Gold Coin repayable to the bearer on demand." Fortunately for paper money collectors not all these lovely certificates were redeemed. But look across the aisle on your next bourse floor trip; fortunately for all collectors not all those gold coins were melted either. Still it's unlikely you'll every spy the likes of the examples Phillip Morse garnered outside of museums or very fancy price tags. So there's method to this reviewer's apparent madness. Here's a less expensive way to acquaint oneself with some of those gold coins that once backed Gold Certificates, National Gold Bank Notes, and other federal currency to a lesser extent before the U.S. went off the gold standard and the New Deal put the kabosh on the precious metal and evidences thereof. Admittedly coin collectors would have their reasons to admire messr. Halperin's and colleagues' work. As a (mostly) paper money collector, I may have slightly different perspectives. For me personally, the first thing that strikes me is that this book is not particularly thick (253 pages), but it is amazingly heavy. This may seem a strange observation for a book review, but it feels like a heavy-weight production befitting its subject matter and the heft of precious metal itself. This also reveals the quality of its materials and workmanship. This book is golden. The publisher took the book seriously enough to give the book lover a treat before he even lifts its full color dust jacket. But as one of the co-authors told this writer while the work Paper Money • May/June 2007 • Whole No. 249 231 ■t:P.P.V AfW: repayable on deman looked like was still in preparation, they were not interested in creating just another "coffee table boOk," and there's serious scholarship here. Inside the real delights await. Many consider Augustus Saint-Gauden's $10 and $20 gold coins the pinnacles of the mon- eyer's art. Morse's collection was sold by Heritage in November 2005 for nearly $20 million, and several coins from other collec- tions round out the presentation here to make it comprehensive. Past the pretty pictures, which really are large and stunning, is a back story on the creation of these fabulous coins suited to the history buff, and a year-by-year-mintmark analysis of the coinage that will delight any collector. These authors are thoroughly famil- iar with their subject, since they work with these coins on a daily basis. Not only have they accumulated and blended the best and most up-to-date scholarship available, but they also offer their own insights for the first time ever in book form. Another good reason for paper money collectors to appreci- ate this book is its documentation of President Theodore Roosevelt's a-religious views regarding the use of the religious senti- ment "In God We Trust" on our nation's coinage, particularly apropos now as we paper money collectors ready to celebrate the 50th anniversary of its introduction to our paper money this July. In discussing the absence and re-integration of this motto to our gold coinage, this book exhibits a typescript of one of a series of letters the President wrote to various religious leaders substanti- ating his views that the motto should NOT appear on our coinage. Its presence was a sacrilege, in TR's mind. Far from an atheistic point of view (most objections to the motto have been from non- theistic parties), what Roosevelt was saving is that christening our money with religious sentiment was nearly equivalent to taking the Lord's name in vain, a specifically forbidden practice in the Jucleo- Christian tradition, because it trivialized it. This letter in the Morse sale brought $43,125. For the historian among us, this work also puts in perspec- tive the New Deal events which ended gold coinage in our country for 40 years, and resulted in a recall of Gold Certificates and coins. With the acquisition a couple years ago of Currency Auctions of America, the folks down in Dallas have been major players in the paper money marketplace. Proof is the nearly 200,000 currency auction sales records on their permanent inter- net database, a resource unmatched in our hobby. In recent years, Heritage has also ventured into political memorabilia, manuscripts, comics, sports memorabilia, Americana, books, movie posters, fine and decorative art, jewelry and timepieces and other objects of conoisseurship. It's not surprising that Heritage would be involved in a pro- ject like this. Heritage's predecessor firms have consistently pio- neered numismatic color imaging in print and on the web. Before anybody, Steve Ivy featured large full color auction catalogs in the 1970s. Heritage and its predecessor firms have been quietly pub- lishing books through its Ivy Press for a quarter century. I know I edited books for Steve Ivy on the silver dollar and U.S. commem- orative coins in the early '80s. In our own paper money field, Heritage served as sales agent several years ago for Joanne and Ed Dauer's visually impressive American History as Seen Through Clirrenty. No other paper money book is as stunning. Aesthetically, this new book is a worthy follow up. Price is $75. Shipping is free. Orders may be placed with Heritage at the firm's website www.ha.com or by mail at 3500 Maple Avenue, Dallas, Texas 75219. -- Fred Reed • tar" 44'1:4 e• 4 :4 MICHIGAN OBSOLETE BANK & SCRIP NOTES OF THE 19TH CENTURY NATIONAL BANK NOTES 1863.1935 IPAIPE MONEY- AN it.I.Irs. -rat.wwi,7.1) II INTAlltli I 5-t I - 1 4 :5 RONALD J. ItIERMCE Fditrd by Fred Reed 232 Wally Lee's Michigan tome offers two great books in one WHICH OF THE DOUBLEMINT TWINS IS MORE comely? Which is it: great taste or less filling? Was Chang or Eng the more famous Siamese twin? Would Solomon really have split the infant claimed by two mothers? The book reviewed here presents something of a conun- drum for this reviewer. Is it fish or fowl? Two different books reside within its covers, a 539-pg. obsolete currency book and a 387-pg. national currency book. Beside a common binding, both share the common bonds of excellence and authorship. Many know Wally Lee as one of the friendliest and help- ful fellows around. He was a major contributor to this review- er encased stamp book, so we knew a "beast" of a researcher lurked behind kind eyes and bright smiles, but I was blown away by Lee's books (plural) Michigan Obsolete Bank & Scrip Notes of the 19th Century AND Michigan National Bank Notes, 1863-1935 (Krause Publications, 2006). Longtime president of Paper Money Collectors of Michigan, Lee spent a life- time building impressive collections and busting tail finding out about them. Lee traveled to every hamlet in his state which issued notes to research. This led him to create TWO outstanding books. Maybe the choice of separating Lee's offspring would have perplexed Solomon, but it didn't vex editor Cliff Mishler or publisher KP, which neatly packaged BOTH together, a feast for all collectors. The cover's claim of dual personalities is not eyewash. Most books have sections on various classes of paper money. The trend today is to be more comprehensive than in the past. But this equine is more than a zebra of differing stripes. This is horse of a different color. Here are two well-developed, mature books, separately paginated, and worthy of a look-see. This reviewer can't remember a more comprehensive obsolete catalog. In addition to varieties, imprints, values and rarities, Lee's vast research permits listings of officers, succes- sive note signers, and sheet layouts. Large clear illustrations and design information are provided. Bank notes, scrip, col- lege currency are included. Special sections detail issues of mining companies, and commission scrip. The national currency "book" is impressive, too. Lee summarizes each bank's history and serial numbers of known notes. Illustrations include notes, BEP proofs, vintage post- card and modern photographs of banks. A listing of private bankers, statistical data by Robert Ramsey and Robert Polito, Comptroller info, and values round out the presentation. Commensurate with its nature, Lee's volume is priced at $125. Whether this dual presentation augments or stymies sales, BOTH collectors of obsoletes and/or nationals SHOULD purchase this book. If either group doesn't they are missing out on a treat. Availabile at www.krausebooks.com -- Fred Reed • May/June • Whole No. 249 • Paper Money Ron Benice's Florida catalog A surpasses all previous works LL THAT HAS COME BEFORE IN CATALOGING of Florida obsolete notes is merely prelude to the com- prehensive new book Florida Paper Money: An Illustrated History, 1817-1934 by Ron Benice (McFarland, 2007). Florida's history is unique, attracting considerable collec- tor interest for years as snowbirds streamed south. Benice ties together history and economic development of the state and its currency from colonizers to our Great Depression. Florida Paper Money describes and illustrates various types of government and private currency issued in Florida from its earliest days as a Spanish colony, successively through eras as independent republic, territory, state, during secession as part of the Confederacy, Reconstruction, financial panics and the Great Depression. Ron Benice's research takes our knowledge of Florida paper money to a new level on all fronts in all eras. The sections on Civil War notes and Reconstruction cur- rency correct many errors in the standard Criswell reference, and significantly expand the information on signers, dates, quantities issued, and serial numbers. Descriptions of govern- ment authorized scrip printed during the financial panics of 1873 and 1907 extend Mitchell and Shafer's book on 1930s depression scrip. Florida currency look-alikes used for adver- tisements are listed for the first time in any book. Corrections to Schingoethe college note listings appear for the first time. The section on obso- lete bank notes and scrip describes 764 notes com- pared with 349 and 382 in Freeman and Cassidy cata- logs, respectively. Rarity is given for each note. Much of Ron's extensive archival research on the issuers, signers and engravers of Florida obsoletes appears here for the first time. This book is very read- er friendly. Excellent illus- trations, extensive bibliogra- phy, and useful folios and index (things many books shortcut) are included. Whenever possible, the author has identified real and mythological char- acters or allegorical representations appearing on the notes. This reviewer should divulge he played a small part in bringing this book to fruition as its editor, although ALL the hard lifting was Ron's, and he deserves all the applause for it. Its publisher, McFarland Publishing is a recent entry into the numismatic trade. Known for many years as publisher of scholarly works in history, social sciences and humanities, its list in librarianship, movie and baseball history is impressive. Previous ventures into our hobby have brought out George Tremmel's work on Confederates, Howard Berlin's nutnismatica Judaica and World Monetary Units, this reviewer's movie money catalog and the forthcoming Coins and Currently: An Historical Encyclopedia by Mary Ellen Snodgrass. Priced at 575, orders may be placed at www.mcfarlandpub.com , Tel: 800-253-2187, or McFarland, Box 611, Jefferson NC 28640, also amazon.com and barnes&noble.com -- Fred Reed • U.S. STANDARD GUIDE TO SMALL-SIZE PAPER MON 1928 TO =GATE John Schwartz .., Scott Lindquist. 13 The World's Authority on Paper Money Paper Money • May/June 2007 • Whole No. 249 233 Two new Krause editions bring standard titles up to date A25TH ANNIVERSARY IS AN AUSPICIOUS EVENT and deserves a conspicuous observance. The 25th anniverary edition of the Standard Catalog of United States Paper Money (Krause Publications, 2006), tracing roots to the original Krause-Lemke catalog of the same title, but now edit- ed by George Cuhaj, supplies that desideratum. An annual catalog in the best KP tradition, in its newest incarnation, this 25th edition is also the first in a new format, 6 inch x 9 inches, and first with nearly full color illustrations. This makes the book portable, a handy reference to pack in one's luggage and trot around bourse floors, a truly fine con- cept in the face of today's mega compulsions. This reviewer has always liked earlier editions of this work because K-L offered types of "paper money" not touched in other general works On the U.S. series, like counterfeits. When this reviewer was cataloging encased postage a quarter century ago, the best info on this subject was undoubtedly Len Glazer's chaper in this volume. The same high standard was true for Civil War stamp envelopes, and other byways which interest specialists and generalists alike. Glazer's EPS chapter in this edition remains top notch. In addition to a more portable size, and lower price than previous editions, this 336-page guide includes more than 600 detailed color images and illustrations to aid collectors. Listings include large and small size federal currency, National Bank Notes (incl. an extensive value guide by state), military payment certificates, Confederate currency by type, Fractional Currency and shields, and the definitive listing available of pre-Civil War U.S. treasury notes, all area of increasingly collector interest and soaring auction pricing. More than 14,000 updated values are listed. I should divulge that new editor of this work George Cuhaj has been a friend for 30 years. I first met George at all NLG function in Atlanta in 1977, and he made a big impres- sion on me. I was seated at a table engaged in an animated conversation with the estimable Walter Breen, and my learned colleague at Coin World (for many years now all expert cata- loger at Stack's) Dave Alexander. A very young-looking George walked up, extended his right hand, and said some- thing very much like "Hi, I'm George Cuhaj. I'm a numis- matic writer," which stopped our confab dead in its tracks. But by golly, George was indeed a corner. A decade later he was one of the major contributors to my Civil War Encased Stamps. After stints at the ANS, Stack's and many years in Iola, WI George is doing an excellent job keep- ing Chet Krause's and Bob Lemke's Standard Catalog vibrant and relevant. George promises that the 26th edition due out later this year will be 125 or so pages larger, with sections on Civil War envelopes and Philippines notes added back in. Softcover, the book retails for $24.95, at 1,vww.krause- books.com or (800) 258-0929, or 700 East State Street, Iola, WI 54990-0001. -- Fred Reed • MODERN SMALL SIZE U.S. CURRENCY IS THE most maddening area for this magazine's Editor. I believe people collect it. The new 7th edition of John Schwartz's and Scott Lindquist's Standard Guide to Small-Size U.S. Paper Money, 1928 to Date (Krause Publications, 2006) is proof positive. Yet, it is almost impossible for me to solicit publishable articles on these small size notes with any frequen- cy at all. Maybe it's the ongoing nature of this series. Old notes are somewhat fixed in time, while modern Federal Reserve issues just seem to continue rolling along, but there are great specialties in this series, including error notes, fancy serial numbers, autographed notes, type notes, web notes, stars, 1929 nationals, mules, much grist for the editorial mill. Not to mention, the new counterfeit deterrents, and yet with the possible redesign of all our circulating notes to accommodate visually impaired, small-size U.S. should be where it's at info- wise. But, I'm afraid, I digress from the task at hand. Additionally, this market seems large and growing. Prices seem up. The authors point to an active online market -- averaging 4,300 continuous auctions for small-size U.S. cur- rency on one the world's largest online auction sites. Maybe collectors in this field are too busy to sit down and write for this magazine or any other. Thank the heavens, as much is not true of messrs. Schwartz and Lindquist who package in 355 pages attractively and infor- matively, updated data that early small size enthusiasts like Chuck O'Donnell, Nate Goldstein, Mike Crabb, Harry Jones et al. struggled to get off the ground a generation ago. Listed are all classes of fed- eral currency S1 through $100,000 issued since conversion from old large size notes, including World War II issues. Information includes plate numbers, quantities printed, high and low serial numbers observed, wide and narrow variations, stars, web notes, uncut sheets, changeover pairs, and even a price guide for fancy serial numbers. A couple minor problems are noted, which are easily fix- able: (1) most page numbers On the Table of Contents are inaccurate, and (2) Series 2003A $5 FRNs are not colorized as stated in the catalog, but who an I to quibble? Although the Treasury is fighting federal judge James Robertson's Nov. 28, 2006, ruling that same-sized and tex- tured U.S. Currency denies meaningful access to money to the visually impaired, an overhaul of our small size notes may be in the offing. We can expect should this happen, even more interest would be fixed on small sized currency, adding collec- tor value, and that messrs. Schwartz and Lindquist will cover the changeover in workmanlike fashion in a subsequent edi- tion of a must have volume on the notes it covers. The Standard Guide to Small-Size U.S. Paper Money, 1928 to Date is economically priced $24.99, in a handy 6 inches by 9 inches format, extensively illustrated with more than 300 black and white images, and highly recommended. -- Fred Reed + 234 May/June • Whole No. 249 • Paper Money Two new faces, two incumbents to join SPMC Board at Memphis ATRULY CONTESTED RACE HAS BEEN rare in SPMC elections in recent years, and that's the way it is this time around once again. Only four candidates are competing for the four open positions on the SPMC board. Thus no election will be necessary. Instead SPMC President Benny Bolin will direct that a single ballot for the slate be cast. That was not the case three years ago, however, when the current class of board members were elected for three-year terms. In 2004 seven candidates were in the running, including five new faces who'd thrown hats into the ring. "Hopefully," we remarked at the time "this is another indication that SPMC is generating increased interest and a desire among its members to serve in this important role." Alas, we spoke too soon. Never-the-less excellent qualified candidates will be elected to new three-year terms at Memphis. They are incumbents Rob Kravitz and Fred Reed, and newbies Bob Vandevender and Matt Janzen. Congratulations to each. You now have increased visibility and opportuni- ties to serve your Society and hobby. SPMC Board members generally meet twice a year at Memphis in July (normally June) and St. Louis in November. Under current SPMC President Benny Bolin, several conference call meetings annually have also been staged. The Board sets policy, votes the expenditure of funds, and provides leadership for vari- ous aspects of the Society's member services and pro- grams. Board members also elect Society officers. In- between Board Members perform assigned duties, per- form committee work, and represent SPMC at various national and regional events. Board members are elected for three-year terms. Terms for one third (four) of the 12 Board positions expire annually. Another Society election will be held at this time next year. Surely there are many qualified members with time and a willingness to serve. Don't wait for one of the board members "to hit you up" next time around. These posts shouldn't go begging. Step forward. Rob Kravitz Rob has been a collector since 1965. A former pro- fessional foosball player, he became a part-tiine coin/currency dealer in 1970. Since 1994 Rob has been a full time dealer. He is a member of the Professional Currency Dealers Assn. He is also LM of SPMC (#294), ANA (#5361), and Central States Numismatic Society (#791). Rob learned numismatic research with the help of Eric P. Newman and his library, and authored A Collector's Guide to Postage and Fractional Currency several years ago. Because of his spe- cialized skills, Rob was selected by the Currency Grading and Certification Service to be one of its Fractional Currency graders. Rob has written several articles for Paper Money and been an advertiser for several years. He has also been a gen- erous benefactor of the Society and the hobby. He has been involved in arranging for lots for our annual Tom Bain raffle at Memphis, and a generous donor to same. He has also offered free copies of his Fractional Currency book to non-SPMC members as an incentive for them to join our Society. Rob also collects rock 'n' roll posters and art work by Jerry Garcia and Stanley Mouse, as well as St. Louis Cardinals baseball cards. When you see Rob next time, ask him who was draped over his shoulder in the cropped photo of him shown here. You may be sur- prised! Fred Reed Collector since 1955. SPMC member since 1975. SPMC Governor (1998-present); SPMC Secretary (1998-2001); Paper Money Editor (1999-present); Paper Money Publisher 2003-pre- sent); George W. Wait Memorial Chairman (2000- present). Received SPMC Awards of Merit (2001, 2006); SPMC-Bank Note Reporter Nathan Gold Lifetime Achievement Awards (1995 and 2000). BNR "Most Inspirational" exhibit recipient (2002) at Memphis. U.S. Army newspaper editor (1970-1972). News Editor and Staff Writer of Coin World (1975- 1981); Managing editor, Probe Ministries (1981-1986); Vice President Publishing and Editorial Director Beckett Publications (1986-1996); owner enthusiast- Paper Money • May/June 2007 • Whole No. 249 235 media.com ltd a niche publishing & editorial, and spe- cial interest consulting firm. Author, co-author or edi- tor of dozens of hobby books, including Civil War Encased Stamps, Paper Maley Errors, Coin World Guide to Collecting, Show Me the Money!, as well as books on U.S. silver dollars, U.S. commemorative coins, Canadian sil- ver and nickel dollars, U.S. Fractional Currency, obso- lete currency and sports personality and collectibles titles. He is also columnist for Coin World, Coins maga- zine, Bank Note Reporter, and working on four books. Principle interests in continuing to serve on SPMC Board are: (1) increasing number of Society members; (2) maintaining/improving SPMC membership services and Paper Money; (3) improving SPMC awards/incen- tives programs; (4) articulating and helping to imple- ment SPMC 6000 goals; (5) assisting other board mem- bers in achieving SPMC goals; (6) representing collec- tors and SPMC member dealers' interests effectively. Fred is also a longtime member of TAMS, ANS, CWTS, FCCB, NLG and occasional member of ANA. Robert L. Vandevender II Bob is a life member of the SPMC and has been collecting numismatic items since child- hood. He began to seriously collect U.S. small-size curren- cy in the early 1990s. He has also worked to assemble both large-size type and Fractional Currency collections. In 1998 Bob and business partner Jim Hodgson founded the American Paper Connection, Inc. Bob currently serves as president. Bob is a contributor to the Schwartz-Lindquist small size book, Krause-Lemke U.S. paper money cata- log, and the Friedberg U.S. catalog (all coincidentally reviewed in this issue of Paper iVIoney). Bob and Jim were the first to "break the code" on how the web-fed notes were being printed in the Series 1988A, helping to kick off block collecting of web notes. Much of the original web-fed data was a direct result of his field research. Known for his Monopoly tie once worn in a Numismatic News cover photo, Bob is a strong collector advocate. He attends most major numismatic shows, either setting up or walking the floor in search of new additions to his collection. Bob is a LA'I of ANA, a member of PCDA, and PMCM. He is also a veteran of the U.S. submarine force, has a BS in Nuclear Technology, and is currently working with Florida Power & Light managing a pro- ject for the storage of used fuel. Matt Janzen A Wisconsin native, Matt grew up in the Wisconsin Dells area but now resides in Plover, WI. He attended the University of Wisconsin at Stevens Point and now works for the State of Wisconsin Department of Commerce. Matt started collecting coins at age four (with dad's assistance) by filling blue Whitman fold- ers with parking meter money obtained from the local bank. His interests have since evolved into Wisconsin National Bank Notes, specifi- cally 1929 small size. In addi- tion, he authored "Wisconsin National Bank Notes - A Census," detailing surviving notes and providing information regarding issuance by each bank, which earned him this year's George W. Wait Memorial Award (see p. 195). Besides currency, Matt also enjoys collecting bottles, tokens, postcards and local history items, especially those from Devil's Lake (near Baraboo, WI). As a board member, Tanzen says he will seek to pro- mote the hobby of currency collecting, foster learning and collecting opportunities for novices, and further dis- cussion of identifying processed and problem notes. v Wanted Speakers for SPMC's 4th Annual Authors Forum Limited space available to present your book & experience at our Memphis shindig As of this writing we could use one or two more presenters Contact Editor fred@spmc.org 236 May/June • Whole No. 249 • Paper Money SPNIC officer signed National Currency by Bob Cochran Ignatius T. Kopicki THANKS TO SOME GREAT DETECTIVE work by Tim Kyzivat, we can now put a face with a signature! Several years ago I noticed a description and photograph of a sheet of 1902 Series National Currency being offered in a RARCOA auction. Included were sheets of 1902 Plain Back notes issued to The Lawndale National Bank of Chicago (charter #10247). The description for one sheet men- tioned that the signature in the Cashier position was "I.T. Kopicki." For several days the notes and the Cashier's name really bugged me. Finally, I remembered who "I.T. Kopicki" was! When I joined SP.MC in the summer of 1979, I really enjoyed the previous issues for that year that were delivered to me after I joined. I liked them so much that I almost immediately began to search for sources to acquire the other "back issues" that I was missing. Naturally the earliest issues were the hardest to find, but I stuck with it. Eventually I managed to compile a complete set, and I still refer to the issues quite often. Ignatius T. Kopicki served SPMC as its Treasurer from 1967 until 1969. Mr. Kopicki was very active in the Chicago Coin Club, as well as the Central States Numismatic Society (CSNS). He was the CSNS Secretary-pro tem in 1939, and served as President of CSNS from 1942-1947. The notes illustrated bearing Mr. Kopicki's signature as an "Assistant Cashier" of The Lawndale National Bank are from among several uncut sheets _ arests.74^4vverrCH'1.-7.- r MN 9737 1.1.12 • ]®1,41 141 "y Vs:.a- -1 1W 10247---- 0 i-cittxuAsirimpl 41-14,4SWilhile-tazwut.z.-uxt.ulla.tutaAule ammo , wklirit111.11.11/3110VVINKON (-- 9737 474-11,1" 7:41',..XMIDEGMZ6Z3111X., CREWT111143X 9737fit:;■ .M .Z7.,■4,1'. . 6 so...( ji 0 j --9 B .1,1045-11-1.--41^ cif 1N . 4,041211 1,tiwitk cu 10217 0 0101401 9737 E 10217 9737 imrcuvrmsnIrso, ,,,, I■ •1,1 -1111-11, 0 4444■4411r44041LA:42==.1W.I}T/L4' 11 lgiutAM r 9/.? 9737 c Akg1,7 -;> C•,:•;) - - IFNI1101111111111=1="77751== 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') 100 $39 $44 $48 500 $160 $175 $200 1000 $300 $320 $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 money collection. When it's time to sell, you want a company that's as thorough and attentive as you are. At Littleton, our team of professionals is ready to offer you expert advice, top-notch service, and a very strong cash offer. See why collectors like you have rated this family-owned company so highly. Call us at 1-800-581-2646 and put l.ittleton's 135+ years of combined buying experience to work for you! NO :4 410i19641-- Watiblitoon. • A. ^d. 722 h ',61S-Rel , 11104 Ifitt 4.---u„.ro2„D .r.,:altivaa,7„VAIITIZEAC.• .5I'llE UNATEI) STATES ( WAMEElt A /.?. j ,::::::,:i•-•;,....-:-:-.2: '.,,,,,.....11 -1.).., 1 RAH WANTED: All types — Legal Tenders, Silver Certificates, Nationals, Federal Reserve Notes and more. 7 Reasons you should sell to Littleton... 1 Receive top dollar for your collection - immediately 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 - call for details 7 Each year we spend over $15 million on coins and paper money - isn't it time for your check? Ken Westover 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 us. 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.