Paper Money - Vol. XXVII, No. 5 - Whole No. 137 - September - October 1988

SEPT. / OCT. 1988 L. XXVII No. 5 WHOLE No. 137 JAMES A. GARFIELD,, p 0 VO d The name in rare coin auctions for U.S. paper currency Every Kagin auction features a large and varied selection of U.S. paper money to please both the generalist and the specialist. Whether you wish to buy or sell, take advantage of the Kagin reputation for service, experience and collector orientation. To arrange a consignment or to order a catalog, call us at 1-800-367-5428 Kagin's Numismatic Auctions, Inc., 1388 Sutter, Suite 700, San Francisco, CA 94109 SOC I ETY OF PAPER NIONEY COLLECTORS Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XXVII No. 5 Whole No. 137 SEPT. /OCT. 1988 ISSN 0031-1162 GENE HESSLER, Editor P.O. Box 8147 St. Louis, MO 63156 Manuscripts and publications for review should be addressed to the Editor. Opinions expressed by the authors are their own and do not necessarily reflect those of SPMC or its staff. 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PUBLICATIONS FOR SALE TO MEMBERS BOOKS FOR SALE : ALABAMA OBSOLETE NOTES & SCRIP, 1984 Rosene $12.00 Non-member price $15.00 ARKANSAS OBSOLETE NOTES & SCRIP, 1985 Rothert $17.00 Non-member price $22.00 FLORIDA PAPER MONEY, ILLUSTRATED HISTORY OF, (softcover) 1980 Cassidy $16.00 Non-member price $19.50 INDIANA OBSOLETE NOTES & SCRIP, 1978 Wolka $12.00 Non-member price $15.00 INDIAN TERRITORY/OKLAHOMA/KANSAS OBSOLETE NOTES & SCRIP, 1980 Burgett and Whitfield $12 . 00 Non-member price $15.00 IOWA OBSOLETE NOTES & SCRIP, 1982 Oakes $12.00 Non-member price $15.00 MAINE OBSOLETE PAPER MONEY & SCRIP, 1977 Wait $12.00 Non-member price $15.00 MINNESOTA OBSOLETE NOTES & SCRIP, 1973 Rockholt $12.00 Non-member price $15.00 NEW JERSEY'S MONEY. 1976 Wait $15.00 Non-member price $20.00 PENNSYLVANIA OBSOLETE NOTES AND SCRIP (396 pages), Hoober $28.00 Non-member price $29.50 RHODE ISLAND AND THE PROVIDENCE PLANTA- TIONS. OBSOLETE NOTES & SCRIP OF 1981 Durand $20.00 Non-member price $25.00 TENNESSEE-THE HISTORY OF EARLY TENNESSEE BANKS AND THEIR ISSUES, 1983 Garland $20.00 Non-member price $29.50 TERRITORIALS-A GUIDE TO U.S. TERRITORIAL NATIONAL BANK NOTES, (softcover) 1980 Huntoon $12.00 Non-member price $15.00 VERMONT OBSOLETE NOTES & SCRIP, 1972 Coulter $12.00 Non-member price $15.00 All cloth bound books are 8 1/2 x 11" Write for Quantity Prices on the above books ORDERING INSTRUCTIONS 1. Give complete description for all items ordered. 2. Total the cost of all publications ordered. 3. ALL publications are postpaid except orders for less than 5 copies of Paper Money. 4. Enclose payment (U.S. funds only) with all orders. Make your check or money order payable to: Society of Paper Money Collectors. 5. Remember to include your ZIP CODE. 6. Allow up to six weeks for delivery. We have no control of your package after we place it in the mails. Order from: R.J. Balbaton, SPMC Book Sales Dept., P.O. Box 911, N. Attleboro, MA 02761-0911 Library Services: The Society maintains a lending library for the use of the members only. For further information, write the Librarian - Wendell Wolka, P.O. Box 929, Goshen, IN 46426. Page 138 Paper Money Whole No. 137 Paper Money Whole No. 137 Page 139 • I I I II I I Mare take (-tote, NEW! IiION7th il AVAILABLE NO The most comprehensive, up-to-date illustrated guide to U.S. paper money from 1812 to date. In this updated, expanded edition you'll get: • New 1988 market data • Note portraits identified, a new feature to this edition • Complete coverage for 175 years of official paper money circulated by the Federal Government • Listings for more than 5,500 currency items • 14,000 market values, presented in up to three grades • Historical and economic background information for each major section • Complete National Bank Note Listings, with rarity ratings for each bank • Over 600 photos, for easier identification • 192 pages of detailed coverage • In-text cross referencing of Krause/Lemke and Friedberg numeric systems • Attractive, durable 81/2" x 11" hardcover format This book available from your local hobby dealer or direct from the publisher. Krause Publications Book Order Dept. IYF 700 E. State St., Iola, WI 54990 (715) 445-2214 Yes! I want to up-date the value of my collection with the assistance of Standard Catalog of United States Paper Money Send me copies of the Standard Catalog of United States Paper Money, 7th Ed., for $19.95 plus $2.50 shipping and handling, per book. (Foreign addresses, send $4.50 for shipping and handling. Payable in U.S. funds.) Name Address City State Zip MONEY -BACK GUARANTEE 10 Day Free Return Privilege ( ) Check or money order (to Krause Publications) Amount for books Shipping Total amount enclosed Department IYF Monday-Friday. 8 am - 5 pm CST ) MasterCard ( ) VISA Credit Card No Expires: Mo. Yr I Mad with payment to: Signature I Krause Publications, Catalog Order Dept. IYG700 E. State St., Iola, WI 54990 II=IMMM■MMEMI=IMINNIMEMMEd I Charge Card Orders SAVE TIMEL"4-B1 Use Our Toll-Free Number = 800-258-0929 $ IYF ST. LOUIS IS CALLING YOU to the THIRD ANNUAL NATIONAL AND WORLD PAPER MONEY CONVENTION November 10, 11, 12, 13, 1988 Cervantes Convention Center 801 Convention Plaza Hickman-Oakes Auction Educational Programs and Meetings Exhibits Free Admission 100 Booth Bourse Area Leading Specialists in United States and World Paper Money, Confederate and Obsolete Notes, Stocks, Bonds and Fiscal Documents will be in St. Louis for the National and World Paper Money Convention. Plan now to attend. *g§'s,KANALAO Evitinat Bourse and Hotel Discount Information: P.C.D.A. P.O. Box 589, Milwaukee, WI 53201 (414) 282-2388 • V X , 14 * 11TN 5 )1; Pt R \ E1 tsta4( Fztcda Sponsored by: The Professional Currency Dealers Association, The Society of Paper Money Collectors and the International Bank Note Society Paper Money Whole No. 137 Page 141 (c5--;7_0) THE PAPER COLUMN by Peter Huntoon The Earliest National Bank Title Changes ABSTRACT There were no provisions in the national banking laws to permit a national bank to change its title or location prior to May 1, 1886. This neglected detail even prevented a bank from altering its title in the event that the name of its home town changed. The only way a national bank could change its title or location was to win passage of a special act or resolution of Congress allowing for the modification. I have located 50 Congressional acts or resolutions authorizing 52 ac- tions that affected 50 different banks in the period prior to May, 1886. These ultimately resulted in 46 title altera- tions including 19 title changes, 20 moves, and six town name changes. Of the banks that moved, two crossed state lines. An amendment to the national banking laws dated May 1, 1886, permitted title changes and moves, provided the bank did not relocate more than 30 miles from its original location or leave its state of origin. AMENDMENT OF MAY 1, 1886 By 1886, the banks, the Comptroller of the Currency, and Congress were growing weary of the necessity of having to pass a special Congressional act or resolution in order for a National Bank to change its title or to move. Section 2 of an amendment to the national banking laws passed May 1, 1886 finally overcame this rather trivial de- tail. Section 2 reads: That any national banking association may change its name or the place where its opera- tions of discount and deposit are to be carried on, to any other place within the same State, not more than thirty miles distant with the ap- proval of the Comptroller of the Currency, by the vote of shareholders owning two thirds of the stock of such association. A duly authenti- cated notice of the vote and of the new name or location selected shall be sent to the office of the Comptroller of the Currency; but no change of name or location shall be valid until the Comp- troller shall have issued his certificate of ap- proval of the same. Thus ended an interesting era that stifled bank title changes and short relocations. PRE-MAY 1886 TITLE CHANGES If the board of directors of a bank wished to alter their bank's title or location prior to the 1886 act, they had to petition the Con- gress of the United States, usually through a local representative or senator, to have legislation introduced to permit the change. As shown in Table 1, I found 50 separate instances where such legislation was enacted. Forty-seven acts dealt with 49 actions involving 47 different banks. Actions for three banks, charters 1631, 1348 and 1403, were accomplished through joint resolu- tions. Two of the acts incorporated changes for two banks at once, respectively March 1, 1869 for 1591 and 321, and March 3, 1875 for 456 and 856. The most interesting case involved an act dated April 2, 1872 authorizing The First National Bank of Seneca, Illinois (1773) to move to Morris. However, through faulty language, the act in- advertently failed to allow the bank to change its title to The First National Bank of Morris. This oversight had to be rectified after the bank had moved by a second act dated June 18, 1874. Another bank changed its title twice prior to May 1, 1886, thus requiring two separate acts. On April 29. 1879 the officers of The National Bank of Commerce of Cincinnati, Ohio (2315) won authorization to change its title to The National Lafayette and Bank of Commerce. This awful title proved too cumber- some and the bank's officers were back in Congress five years later pleading for a new title. On February 21, 1884, Congress authorized a more manageable title: The National Lafayette Bank. The typical act specified: (1) the title change or move to be al- lowed, (2) how the bank was to affect the change (ie., by resolu- tion of the board of directors: by 3/4 vote of the board of direc- tors; etc.), (3) that notification of the title change be sent to the Comptroller, (4) that there be no releases from existing obliga- tions or liabilities on the part of the bank, and in many cases (5) a time limit for making the change. Important for the student of national bank notes is the fact that the change did not go into effect as of the date of the act or reso- lution. Rather, after passage of the act, the change had to be im- plemented by a formal action of the board of directors and trans- mitted to the Comptroller, who then certified it, thereby making it official. Changes actually occurred weeks, months, or a couple of years after being authorized through an act or resolution be- cause of the mandated steps leading to final certification of the change by the Comptroller of the Currency. As one example, consider The Citizens National Bank of Sanbornton, New Hampshire (1333), which obtained permission to alter its title to reflect a change in the town name from Sanbornton to Tilton. The act authorizing the change was dated February 19, 1875. The change was certified by the Comptroller on July 6, 1875. New Series of 1875 5-5-5-5 and 10-10-10-20 plates were or- dered for the bank bearing the new town name in the fall of 1875, and each carried an engraved date of October 25, 1875. An extreme delay is illustrated by the move of The First Na- tional Bank of Annapolis, Maryland (826) to become The Trad- ers National Bank of Baltimore. The act authorizing this move was passed June 7, 1872, yet the move was not officially certi- fied by the Comptroller until April 7, 1874. The first plate show- ing the new title was an Original Series 5-5-5-5 combination which carried an engraved batch date of May 25, 1874. title change 6 both title change 6 both move none both move (did not move) none 1st move none both move none both move none both move none both town name change none both move, see 6-18-74 none - move (did not move) none 1st move none both move none both move NY to IN none both move (did not move) none 1st move none both title change 6 both title change none both move 6 both title change 6 both title change 6 both move MD to DC 6 both MOVE. 12 2nd move 6 both move none both town name change 6 both title change 6 both town name change 6 both tit le change town name change move move title change move (did not move) title change MVP town name change title change (did not change) move MOVe title change town name change title change title change title change title change move (did not move) title change title change move title change title change 6 both 9 both none both none both 9 both none 1st 6 both none both 6 both 6 1st none both none both 6 both 6 both 6 both 6 both 6 both 6 both none 1st 6 both 6 both 6 both 6 both 6 both Paper Money Whole No. 137Page 142 Table I. National Banks which were authorized by Congressional acts or, resolutions to change titles, move, or change town names prior to May I, 1886. Date of Act Charter or Resolution Number Original Title and Location Second Title and Location Purpose Time Titles Limit on (Months) Notes 1, 1869 1591 City NB New Orleans LA Germania NB New Orleans LA 1, 1869 321 Second NB Plattsburgh NY Vitas NB Plattsburgh NY 5, 1870 94 First NB Delhi NY First NB Port Jervis NY 1, 1870 1631 First NB Fort Smith AR First NB Camden AR 22, 1870 1464 Jersey Shore NB Jersey Shore PA Williamsport NB Williamsport PA 9, 1871 1207 Worcester County NB Blackstone MA Franklin NB Franklin MA 18, 1871 1348 Farmers NB Fort Edwards NY North Granville NB North Granville NY 27, 1871 420 Worthington NB Cooperstown NY First NB Oneonta NY 12, 1872 616 Warren NB South Danvers MA Warren NB Pea bod% MA 5, 1872 1773 First NB Seneca IL First NB Seneca IL 31, 1872 753 Railroad NB Lowell MA Railroad NB Boston MA 7, 1872 826 First NB Annapolis MD Traders NB Baltimore MD 24, 1872 2008 NB Lyons MI Second NB Ionia MI 11, 1873 1772 East Chester NB Mount Vernon NY German NB Evansville IN 23, 1873 1861 First NB Newnan GA NB of Commerce Atlanta GA 19, 1873 358 First NB Watkins NY First NB Penn Yann NY 3, 1873 1701 NB Springfield MO First NB Springfield MO 3, 1873 1660 Kansas Valley NB Topeka KS First NB Topeka KS 8, 1874 1830 First NB Saint Anthony MN Merchants NB Minneapolis MN 9, 1874 343 Second NB Havana NY Havana NB Havana NY 15. 1874 810 Passaic County NB Paterson NJ Second NB Paterson NJ 1, 1874 1893 Citizens NB Hagerstown MD Citizens NB Washington DC 3, 1874 2290 Irasburgh NB Orleans VT Barton NB Barton VT 18, 1874 1773 First NB Seneca IL First NB Morris IL 23, 1874 1894 Farmers NB Greensburgh PA Fifth NB Pit tsburgh PA 19, 1875 1333 Citizens NB Sanbornton NH Citizens NB Tilton NH 3, 1875 456 Second NB Watkins NY Watkins NB Watkins NY 3, 1875 856 Slater NB North Providence RI Slater NB Pawtucket RI 3, 1875 938 Second NB Jamestown NY City NB Jamestown NY 27, 1876 268 First NB Amesbury MA First 613 Merrimac MA 31, 1878 1964 Miners NB Braidwood IL Commercial NB Wilmington IL 10, 1879 1614 Windham NB Windham CT Windham NB Willimantic CT 29, 1879 2315 NB Commerce Cincinnati OH N Lafayette and B of Commerce Cincinnati 011 27, 1879 893 Conway NB Conway MA City NB Holyoke MA I1, 1880 1520 City NB Manchester NH Merchants NB Manchester NH 13, 1881 684 Blue Hill NB of Dorchester Boston MA Blue Hill NB Milton MA I, 1881 250 First NB West Meriden CT First NB Meriden CT 17, 1882 1075 N Mechanics Banking Asso New York NY Wall Street NB New York NY 25, 1882 583 Lancaster NB Lancaster MA Lancaster NB Clinton MA 27, 1882 1875 NB Kutztown PA Keystone NB Reading PA 18, 1883 1403 NB Winterset IA First NB Winterset IA 26, 1883 249 First NB West Green- ville PA First NB Greenville PA 21, 1884 2315 N LaFayette and B of Commerce Cincinnati OH N Lafayette B Cincinnati OH 22, 1884 2536 James Sweet NB Nebraska City NE Merchants NB Nebraska City NE 24, 1884 2231 West Waterville NB Oakland ME Messalonskee NB Oakland ME 3, 1884 2988 Marsh NB Lincoln NE Capital NB Lincoln NE 28, 1884 385 NB Middletown PA NB Steelton PA 18, 1884 787 Hillsborough NB Hillsborough OH First NB Hillsborough OH 27, 1885 819 NB Bloomington IL First NB Bloomington IL 20, 1885 1443 Manufacturers NB New York NY Manufacturers NB Brooklyn NY 15, 1886 3224 NB Winona MN First NB Winona MN 15, 1886 1648 Merchants NB Little Rock AR First NB Little Rock AR Mar Mar May Jul Dec Feb Feb Feb Mar Apr May Jun Dec Jan Jan Feb Mar Mar Jan Jan Apr May Jun Jun Jun Feb Mar Mar Mar Dec Jan Feb Apr Jun Jun Jan Mar Feb Feb Jun Jan Feb Feb Mar Mar May Jun Dec Jan Feb Feb Feb a. The bank was authorized to move from Seneca to Morris, but the act failed to include authorization for changi ng the town name in the title. See Jun 18, 1874. Of the 52 Congressional actions allowing title changes, moves, and town name changes, 46 actually resulted in the au- thorized changes. In one interesting case, The Slater National Bank of North Providence, Rhode Island (856) desired to revise its title to The Slater National Bank of Pawtucket because of a town name change. An act dated March 3, 1875 authorized this modification. The bank's directors passed the required resolu- tion to implement the change within the required six months and filed the resolution with the Comptroller who certified it. However, the bank elected not to issue Series of 1875 notes showing the new title, probably to avoid the cost of a new en- graved plate. The new title finally appeared in 1885, ten years later, on Series of 1882 notes from 10-10-10-20 plate made when the bank was extended on January 4, 1885. Before passage of the 1886 amendment, twenty banks won Congressional authorization for title changes and all but one were implemented. Twenty-five won authorization for moves, of which 20 actually moved. Two of the moves were across state lines. Six banks won changes reflecting town name changes. The two banks that moved across state lines were as follows: (1) The East Chester National Bank of Mount Vernon, New York (1772) became The German National Bank of Evansville, Indiana; (2) The Citizens National Bank of Hagerstown, Mary- land (1893) became The Citizens National Bank of Washington, D.C. The acts permitting these moves were passed respectively in 1873 and 1874, and the new plates carrying the new titles were made within those same years. FIRST TITLE CHANGES The first Congressional act authorizing title changes passed on March 1, 1869. and served both The City National Bank of New Orleans, Louisiana (1591) and The Second National Bank of Plattsburgh, New York (321). Simple title changes were desired for both banks, respectively, to The Germania National Bank of New Orleans, and The Vilas National Bank of Plattsburgh. The first to implement its change was the New Orleans bank, so it be- came the first National Bank to change its title. •Paper Money Whole No. 137 Page 143 Congress authorized the National Bank of Winona, Minnesota, to change its title to the First National Bank through an act dated February 15, 1886. The title change was certified by the Comptroller of the Currency on February 25, 1886. Photos of this spectacular pair are courtesy of Charles Coluer. PLATE DATES The engraved dates shown in Table 2 fall into three types with the exception of four plates treated by footnotes c, d and e. (1) Those dates between April 12, 1869 and January 16, 1871, carry batch dates that closely follow the date when the CorrT - troller certified the title change. (2) Plates dated between June 15, 1871 and June 15, 1881, carry batch dates rounded to in- crements of five days that reflect when the title change plates were ordered. Notice that this convention often led to different dates for the various plate combinations used by a given bank. A good example involves the three different dates used on the plates for The Warren National Bank of Peabody, Massachu- setts (616). (3) Plates dated February 16, 1882 or later carry the date of the title change as certified by the Comptroller of the Currency. Notice in the latter cases that the date of the title change is later than the date of the authorizing act or resolution. BANK SERIAL NUMBERS With the strange exceptions of 5-5-5-5 Original Series for Ha- vana, New York (343) and Series of 1875 for Willimantic, Con- necticut (1614), bank sheet serial numbering reverted to 1 with the introduction of new title plates for each plate combination. Bank serial numbering on the Havana and Willimantic 5-5-5-5 sheets was consecutive from the old title printings. The new 5-5-5-5 Willimantic plate carried an engraved date of May 15, 1879. Printings from it include bank serials 1501- 2500 and 2501-3000, respectively, received by the Comptroller of the Currency on June 12, 1879 and December 1, 1879. Serials through 2958 were issued. The practice of restarting bank sheet serials at 1 was honored for all title changes except conversions from territory to state prior to 1907. Bank serials first reverted to 1 for statehood notes with the admission of Oklahoma in 1907. NK Happenings From The Banker's Magazine ■ Submitted by Bob Cochran B Page 144 Paper Money Whole Table 2. Engraved dates appearing on the new plates for National Banks which changed titles, moved, or changed town names prior to May 1, 1886. Date of Act Charter or Resolution Number Location Series 1-I-1-2 5-5-5-5 10-10-10-20 50-100 Other Combinations No. 137 Mar 1, 1869 1591 New Orleans LA Orig 10-10-10-10 Apr 20-20-50-100 Apr 12, 12, 1869 1869 Mar I, 1869 321 Plattsburgh NY Orig Jul 12, 1869 Jul 12, 1869 Jul 12, 1869 May 5, 1870 94 Port Jervis NY Ong Jun I, 1870 Jun 15, 1871 20-20-20-50 Oct 15, 1873 Dec 22, 1870 1464 Williamsport PA Orig Jan 16, 1871 Jan 16, 1871 b Feb 9, 1871 1207 Franklin MA Orig Oct 15, 1872 Oct 15, 1872 Oct IS, 1872 Feb 18, 1871 1348 North Granville NY Orig Jun IS, 1871 Feb 27, 1871 420 Oneonta NY Orig May IS, 1874 Jun 15, 1871 Mar 12, 1872 616 Peabody MA Orig Nov 15, 1873 Nov 25, 1874 Aug 15, 1872 Aug 15, 1872 Jun 7, 1872 826 Baltimore MD Orig May 25, 1874 Jun 25, 1875 Dec 24, 1872 2008 Ionia MI Ong Jul 15, 1874 Jul 15, 1874 b Jan 11, 1873 1772 Evansville IN Orig Jul 15, 1873 Aug 15, 1873 Feb 19, 1873 358 Penn Yan NY Orig Apr 15, 1873 Apr 15, 1873 Mar 3, 1873 1701 Springfield MO Orig Apr IS, 1873 Jul 15, 1873 Mar 3, 1873 1660 Topeka KS 1875 May I5, 1873 Jan 8, 1874 1830 Minneapolis MN Orig Mar 25, 1874 (bank issued black charter $5 notes under new title as a result of this change) Jan 9, 1874 343 Havana NY Orig Mar 20, 1874 Apr 15, 1874 810 Paterson NJ Orig Jun IS, 1874 May I, 1874 1893 Washington DC Orig Jun 15, 1874 Jun 15, 1874 Jun 15, 1874 Jun 3, 1874 2290 Barton VT 1875 Sep 15, 1875 Jun 18, 1874 1773 Morris IL Orig Aug 15, 1874 Jun 23, 1874 1894 Pittsburgh PA Orig Apr 15, 1875 Apr 15, 1875 Feb 19, 1875 1333 TiltOn NH 1875 Oct 25, 1875 Oct 25, 1875 Mar 3, 1873 456 Watkins NY Orig May 15, 1875 May 15, 1875 Mar 3, 1875 856 Pawtucket RI 1882 Jan 4, 1885c Mar 3, 1875 938 Jamestown NY Orig May 15, 1875 May 15, 1875 Dec 27, 1876 268 Merrimac MA 1875 Jan 31, 1877 10-10-20-50 Jan 31, 1877 Jan 31, 1878 1964 Wilmington IL 1875 Apr 15, 1878 Feb 10, 1879 1614 Willimantic CT 1875 May 15, 1879 May 15, 1879 Apr 29, 1879 2315 Cincinnati OH 1875 Jun 25, 1879 Jun II. 1880 1520 Manchester NH 1875 Oct 15, 1880 Oct 15, 1880 Jan 13, 1881 684 Mil ton MA 1875 Feb 16, 1882 Feb 16, 1882 Feb 16, 1882 Mar 1 , 1881 250 Meriden CT 1875 Jun 15, 1881 Jun IS, 188 I Feb 25, 1882 583 Clinton MA 1875 Jun 26, 1882 Jun 27, 1882 1875 Reading PA 1875 Mar 1, 1883 Mar I, 1883 Jan 18, 1883 1403 Winterset IA 1875 Apr 18, 1883 Feb 26, 1883 249 Greenville PA 1882 May 28, 1883 Feb 21, 1884 2315 Cincinnati OH 1875 Jul 1, 1884 Mar 22, 1884 2536 Nebraska City NE 1875 Apr 12, 1884 Mar 24, 1884 2231 Oakland ME 1875 Apr 15, 1884 May 3, 1884 2988 Lincoln NE 1875 May 14, 1884 Dec 18, 1884 787 Hillsborough OH 1875 Jan 27, 1885 Jan 27, 1885 819 Bloomington IL 1882 Feb II, 1885 Feb 11, 1885 Feb 20, 1885 1443 Brooklyn NY 1882 Jun 28, 1885d Jan 28, 1885 Jun 25, 1884 e Feb IS, 1886 3224 Winona MN 1882 Feb 25, 1886 Feb 25, 1886 Feb 15, 1886 1648 Little Rock AR 1882 Jul 1, 1886 a. The series listed is the earliest bearing the new title. b. This sheet combination used only for Series of 1875 printings. c. This Series of 1882 plate carried the date of extension. No Original Series or Series of 1875 plates were ordered with the new title. d. These Series of 1882 plates carried the date of extension. No Series of 1875 plates were ordered with the new title. e. Erroneous date, notice that it predates both the date of the act authorizing the move and the date of extension. The plate was made approved for use 011 March 1, 1894. in 1894 and SOURCES OF DATA Act and resolution data are from the Statutes of the United States. En- graved dates on Series of 1875 and 1882 plates are from Bureau of En- graving and Printing certified proofs in the National Numismatic Collec- tions, Smithsonian Institution, Washington, D.C. Dates for Original Series plates are from ledgers showing Receipts from the Engravers by the Comptroller of the Currency, National Archives, Washington, D.C. Dates for certification of title changes by the Comptroller of the Curren- cy are from the National Currency and Bond Ledgers, National Ar- chives. Washington, D.C. Plate dating conventions are detailed in: Huntoon, P., 1986. Significance of plate dates on National Bank notes. PAPER MONEY, v. 25, p. 67-71. Lynn Vosloh of the Smithsonian Institution and William Sherman of the National Archives were particularly helpful in providing access to data used to prepare this article. /-*--411k THEIR OWN BANKERS George Harvey, a farmer living near Duquoin, Illinois, will re- cover $2,250 out of $3,250 which he brought to St. Louis wrapped in a salt sack and pinned to a trousers leg. He lost it in walking along the streets, and his unique "safe depository" indi- rectly" leaves him short exactly $1,000. The report of Mrs. Mattie Rich of 503 South Broadway, St. Louis, that daylight robbers with revolvers had taken $2,400 from her room led to the recovery of Harvey's money. After she had told the story detectives found the money in a drawer of her dresser. She was arrested and at police headquarters confessed that she had found the money near where Harvey had lost it. She admitted that she gave part of it to friends. Mr. and Mrs. T.C. Bennett of Bristol, Tennessee, lost heavily in a bank failure years ago and vowed never again to put their trust in banks. They are now in Hutchinson [Kansas?] penniless, their children hungry. They came from Bristol with their entire fortune of $3,000 sewed in the lining of Mrs. Bennett's skirt. On the train the money disappeared. (The Bankers Magazine, while reporting the news, obviously could not resist editorially emphasizing the dangers of not trusting banks.) Paper Money Whole No. 137 Page 145 Unissued National Bank Circulating Notes of Ci87=D by GENE HESSLER Reprinted courtesy of THE NUMISMATIST (February 1985), official publication of the American Numismatic Association, 818 North Cas- cade Avenue, Colorado Springs, CO 80903-3279. "The Secretary of the Treasury has decided to make no change in the engraving or printing of the new series of National Bank notes, except that the [first charter, original series] notes are to be printed on distinctive paper and marked 'Series of 1875' . . .."' These words prevented an entire series of notes from being issued, and denied collectors the thrill of searching for and the pleasure of adding notes "that might have been" to their collec- tions.' The National Currency Act was passed on February 25, 1863; the first notes were issued on December 21 of the same year. Although not the first bank to be chartered, the First Na- tional Bank of Washington, D.C. had the distinction of issuing the first notes. Early in January 1864, approximately $30,500 had been is- sued by 150 chartered banks. By 1873 and outstanding amount of national bank notes had increased more than ten-thousand- fold to $350,000,000; the number of chartered banks totaled 2,131, or almost 15 times the number of January 1864. An equal amount of U.S. (legal tender) notes was also outstanding in 1873; however, one third of this amount was held by national banks as required reserve. In 1873 the population of the United States was 43,000,006, and, therefore, the per capita distribu- tion of national bank notes was about $8, or $13 including "greenbacks." The Act of March 3, 1873, authorized newly-designed notes to replace overcirculated, worn and soiled national bank notes, as evidenced by the following section of the act: For replacing worn and mutilated circulating notes of na- tional banking associations, and for engraving and prepar- ing, in such manner and on such paper and of such design as the Secretary of the Treasury may prescribe, new circulation notes for such associations to replace notes of a design and denomination now successfully counterfeited, six thousand dollars; provided that said national banking associations shall re-imburse the Treasury the cost of circulating notes fur- nished under this provision. Soon after the act was passed, the Secretary of the Treasury issued a circular directing . . . the Superintendent of the Bureau of Engraving and Printing to prepare at once a new $10 plate for national bank notes, from which shall be printed upon the distinctive paper designated by the Secretary for use in the printing of bonds and notes, and other obligations of the United States, all the $10 notes hereafter required to be printed for the national banks. The $10 notes already printed and on hand will be delivered to the national banks as usual for the present, but no new notes of that denomination will be ordered to be printed from the old plates. National bank notes of other de- nominations will be printed and furnished as heretofore, without the expense to the banks until otherwise advised.' The last statement was intended to mollify the officers of the national banks who had expressed dissatisfaction at being bur- dened with this new expense. The Comptroller of the Currency reassured the bankers; the federal government, he said, would pay for the new notes. In the annual report of 1873 the comptroller stated that the "Gov- ernment receives benefit of all lost and worn-out notes not final- ly returned for redemption, and the amount to be finally realized from this source alone is estimated to be much greater than the amount required . ." to replace old notes.' Between 1974 and 1979 this writer was fortunate to uncover some of the designs that were prepared as trial notes, or essays, for the 1873 issue. Recently, while researching another subject, I was again fortunate to find what I consider to be the remaining examples. All designs are in the archives of the Bureau of En- graving and Printing (BEP) in Washington, D.C. It was not until October 1, 1877, that the BEP could perform as a self-sufficient department that engraved and printed stamps.' Until that time, the services of private bank note com- panies were necessary. In 1873 the artists at the BEP were al- lowed to design, engrave and print the face designs for the planned national bank circulating notes. Nevertheless, the equally-capable designers and engravers at private bank note companies were required to prepare the back designs. Cor- respondence in the United States National Archives verifies that the American, National and Continental bank note companies were in the process of doing this. The design patterns themselves are created by skilled artists who operate the geometric lathe. The creation of an infinite number of patterns is possible, and thus the craftsmen must keep accurate records of the gear settings. A soft steel shell is secured in position, and the stylus remains stationary as the bed of the lathe on which the plate or die has been secured is placed in motion by motor-driven gears and cams. The result is a design of interlacing lines that would be vir- tually impossible to duplicate by hand engraving. Page 146 Paper Money Whole No. 137 An artist examines an engraved counter on a geometric lathe. (Courtesy of the Bureau of Engraving and Printing) The two engravers largely responsible for the notes discussed here — Charles Burt and Charles Schlecht—were both Euro- peans by birth. Charles Burt was born in Edinburgh, Scotland, in 1822 and emigrated to New York in 1836. During the mid- 19th century—when private bank note companies competed for contracts to print fiscal paper that was issued by local, state and federal governments, and certificates issued by corpora- tions — Charles Burt was engaged as an engraver by 11 different companies: Rawdon, Wright, Hatch & Edson; British- American; Homer Lee; John A. Lowell; New York; Western; American; Baldwin, Gleason; Continental; and International. Before he died in Brooklyn in 1892, Burt worked as an en- graver for the BEP. Born in Stuttgart, Germany, in 1843, Charles Schlecht came to New York City in 1852. In 1859 the young Schlecht was ap- prenticed as an engraver at the American Bank Note Company, and one of his teachers was, coincidentally, Charles Burt. Charles Schlecht was an engraver for the Western Bank Note Company in the mid-1860s and in 1893 was appointed an en- graver at the BEP. He died in 1932. The $1 national bank circulating note essay, far from com- plete, bears a portrait engraved by Charles Schlecht of Nathaniel Greene (1742-86), a Revolutionary War hero who came from a Quaker background. Progress on this and the $50 denomina- tion, as you will see, appears to have come to an abrupt halt Paper Money Whole No. 137 Page 147 when the Secretary of the Treasury made the fateful announce- ment. Notwithstanding, the engraved counter was modified and later used in the same position on the $100 silver certificate of 1878 and 1880 (F336-342, H1212-1219). A letter from American Bank Note Company dated July 28, 1873, and another letter from the National Bank Note Com- pany dated August 7, 1873. mention back designs for the $1 denomination.' Neither these nor any other back designs for this entire series have been recorded. pearance of a dollar sign, it is not. The first use of this symbol on our paper money can be attributed to the back of the $1,000 U.S. note of 1878 (F187a, H1380). The Continental Bank Note Company was requested, in a letter dated September 1, 1873, to complete a back design for this note.' A letter from the National Bank Note Company dated August 28, 1873, stated that a model would be sent.' A portrait of Robert Morris (1734-1806). our first and only Superintendent of Finance and a signer of the Declaration of In- Thomas Ewing (1789-1871), who served as Secretary of the Treasury in 1841. appears on the $2 note in an engraving at- tributed to Charles Burt. Some might find it interesting to learn that Civil War hero William T. Sherman was the adopted son of Ewing. Sherman's portrait was chosen to appear on the $500 treasury (coin) note of 1891. However, like the $20 national bank circulating note, the $500 treasury note was not issued, and thus neither man was honored on United States paper money. If issued, the $2 note would have been the first piece of United States currency to bear the dollar sign ($). Although the overlapping US, as seen on the $1 note of 1869, gives the ap- dependence, can be found on the $1,000 U.S. notes of 1862 and 1863. He almost made a second appearance on the $5 note of the unissued 1873 series.' Another $5 design. the one that probably would have been issued, bears a portrait of Rufus King (1775-1827), delegate to the Federal Constitutional Con- vention in 1787, U.S. senator (1788-1795, 1813-1825) and minister to Great Britain (1796-1803, 1825-1826). Both por- traits were engraved by Charles Burt. The Banker's Magazine of August 1873 described this "latest pattern." Some alterations must have been made after the de- scription was printed, as the signatures, for example, are not located as described in the following excerpt. Page 148 Paper Money Whole No. 137 On the new note the signatures of the bank officers appear in the centre, instead of at the bottom, as in the old one, and the names of the Treasury officials are at the bottom, that of General Spinner being at the right instead of the left. At the top of the new note, on the right-hand side above the lathe work, the names of the city and state wherein the bank is located will appear. Much of the lettering on the face of the old note is omitted from the face of the new one, and put on the back instead. Two large Vs complete the face, one at either end of the cycloidal work. Another feature of the new note will be the numbering panel on the face beneath the sig- nature of King. The background of this panel is so arranged in fugitive colors that any attempt to alter the number will mutilate the whole. The bank number will appear upon this plate and the Government numbers upon the back of the note in blue figures." A SACHU SETTS4'; to,otr ,,,,•11.ED .".`" STAT • iesyvt" • /Z.') • ' /, .,„„„, 5:%,„ /4 ,7,1/ 11,r4 I Paper Money Whole No. 137 Page 149 The engraved "5" and the counter at the upper right corner was later used on all $5 second charter national notes. On July 17 the American Bank Note Company wrote to the BEP to say, as requested, that "Patented July 24th, 1866" would be added to the left end of the back." It was stated in a letter of July 19 that the standing figure of America could be used if the state "arms" as seen on national currency was used. The back design of the $5 note was described in The Banker's Magazine : "The back of the note is neatly designed and bor- dered by an elaborate scroll-work, with the word FIVE in each corner. In the centre is a classical figure representing America, and beneath this the words 'This note is receivable,' etc."' Rock Island National Bank, Illinois, Charter 1889, December 1, 1873 National Bank of Lebanon, Kentucky, Charter 1694, De- cember 2, 1873 First National Bank of Brunswick, Maine, Charter 192. De- cember 1, 1873 Holyoke National Bank, Massachusetts, Charter 1939. De- cember 2, 1873 Third National Bank of Springfield, Massachusetts, Charter 308, December 1, 1873 Mechanics National Bank of New Bedford, Massachusetts, Charter 743, December 1, 1873 As stated in the circular of the Secretary of the Treasury, the $10 note was the first denomination of this series to be pre- pared, and, indeed, proof notes with at least 13 different nation- al bank names have been observed at the BEP. Designed by Charles Schlecht, the portrait on each is that of William H. Seward (1801-72), President Lincoln's Secretary of State. The annual report of the National Currency Bureau of 1874 lists 5,625 impressions of the $10 note as having been made. A number of proof specimens of this denomination reside at the BEP, and all bear the "A" plate letter: National Bank of Delaware, Wilmington, Charter 1420, December 1,1873 Powow River National Bank of Salisbury, Massachusetts, Charter 1049, December 1, 1873 First National Bank of Marquette, Michigan. Charter 390, December 1, 1873 North Ward National Bank of Newark, New Jersey, Charter 2083, November 2, 1873 Tenth National Bank of the City of New York, Charter 307, December 1, 1873 Fourth National Bank of Memphis. Tennessee, Charter 2127, December 1, 1873 The engraved numeral and counter at the upper right was later used on the $10 silver certificate of 1878 and 1880 Page 150 (F283-290, H578-589) and the 1879 refunding certificate (F214, H604) of the same denomination. On March 10, 1873, the BEP wrote to American Bank Note Company to request that a model for the back of the $10 and $20 notes be submitted." Correspondence dated between May 22 and September 1 that verifies plate preparation and printing of the backs can be found in the National Archives. The model prepared by National Bank Note Company was approved on May 22. A letter from the National Bank Note Company dated September 16, 1873, acknowledges the following order for back impressions: 5,000 for New York; 2,000 each for Ten- nessee and New Jersey; and 1,000 each for Maine, Massachu- setts and Rhode Island." On November 12 an order was ac- knowledged for 1,500 impressions for Michigan and 2,000 more for Massachusetts.' Paper Money Whole No. 137 the center of the note. No work is to be used which has been previously used for other purposes." Following the receipt of the requested changes, the model was again returned to the company on July 24. This time the border was approved except for "20" in the upper counter, "one of which was to be antique or dark-faced, with some varia- tion in the style of drawing." The same comments applied "to the small '20' in the corner border on the sides of the tablet with lettering." The vignette, it was said, was too similar to one "we already have."" Even after all the alterations were made. it appears that this back design was rejected. We find that on August 29 the Conti- nental Bank Note Company was requested to prepare a new design." Three days later, the BEP urged the company to com- plete its new task as soon as possible. '9 The first attempt to honor naval hero David G. Farragut (1801-70) on our paper money was not successful, and the $20 national bank circulating note remains an essay like the other denominations. The portrait of Farragut, designed by Charles Schlecht, was ultimately used on the $100 treasury notes of 1890 and 1891 (F377 and 378, H1242 and 1243). The upper and lower engraved numerals and counters on the right were used later on the $20 silver certificate of 1878 and 1880 (F305-312, H808-817). The Continental Bank Note Company was chosen to prepare the back design for the note, and on April 30, 1873, a model was returned to the company, along with a tracing of the desired changes. An accompanying letter noted the changes to be made: The word CIRCULATING NOTE is to be used instead of TWENTY DOLLARS, and the panel to be a little narrower. The words NATIONAL CURRENCY to be white-faced letters, with a heavy black shading to letters on the counters. The corner pieces to be smaller, as indicated in the tracing; the lower left- hand corner piece, however, need not be smaller than it now is in the model. The lathe work not to be too black or heavy. There should be a vignette of some kind and the state arms in The last of the known face designs is an incomplete proof of the $50 note. This design, engraved by Charles Schlecht, bears a portrait of Edward Everett (1794-1865), who at the age of 21 was appointed a professor of Greek at Harvard University. Al- though at a glance some might say that this is a partial proof of the 1878 and 1880 silver certificates of the same denomination, there are differences. The word FIFTY at the lower left is located where the serial number appears on the silver certificate; and the smaller portrait is positioned farther to the left and just a little higher. Records at the BEP are incomplete for this essay; how- ever, the die number, 2125. is sequentially close to numbers as- signed to some denominations in the series. Also, as we have seen, portions of the $1, $10 and $20 notes later were used on silver certificates of 1878 and 1880. In this instance everything from the incomplete $50 design was used later on the silver cer- tificate (F323-329, H1014g- 1022). BOSTON 1411CAG4111 pirrictirlitil NEW TOR PIIIL.UPELPHILA NewTork PICOVIDENCE Providence 1111 liadelphin °stow' -ru NATI oxu. Paper Money Whole No. 137 Page 151 A sampling of printing types patented by Geo. W. Casilear. Patents 138,613 and 138,614 were registered in Casilear's name on 6 May 1873. Page 152 Paper Money Whole No. 137 There is no physical evidence that either face or back designs for these three denominations have survived, or were ever made. These notes were to be included in the series of 1873, as evidenced by two BEP letters - one of April 12 addressed to American Bank Note Company and another of April 17 ad- dressed to the National Bank Note Company -that requested engraving and printing costs for back designs." This writer has a particular interest in, and a fascination for, bank note designs, which for many reasons - most unknown - went unissued. Very few essays are collectible; most exist only in the archives of the Bureau of Engraving and Printing. The na- tional bank circulating notes discussed in the preceding pages might cause a certain amount of frustration for many collectors of national bank notes, the fastest growing segment of the paper money collecting fraternity. If the 1873 series had been issued, one more series of notes would have joined the many elusive national bank notes that continue to challenge collectors. In- stead, collectors can only dream about the notes that will now be added to the list of essays, or notes that "might have been." NOTES 1. The Banker's Magazine and Statistical Register, Vol. 30 (Septem- ber 1875), p. 236. 2. This phrase is borrowed from "The Pattern Piece" by William Dubois and Robert M. Patterson in the Journal of Numismatics, January 1883, p. 56. "Open for me your cabinet of coin patterns and I open for you a record which, but for these half-forgotten witnesses, would have disappeared under the fingers of Time .. . Now, only these live on to tell the tale of what 'might have been'. .. 3. The Banker's Magazine and Statistical Register Vol. 28 (September 1873), p. 228. 4. The Annual Report of the Comptroller of the Currency (Ex. Doc. #3, 1873), p. xlviii. 5. The first official title was the "First Division of the National Cur- rency Bureau," as listed in the Official Register of the United States in 1863. "The first reference on record of the use of the name 'Bureau of Engraving and Printing' is found in a copy of an order of July 31, 1868, placed with John R. Hoole & Sons of New York City, for an ornamental strip with that wording, to be used in print- ing a form needed by the Bureau." History of the Bureau of En- graving and Printing (Washington, D.C., 1964), pp. 21. 23. 6. Official and Miscellaneous Letters Received, 1870-1875, United States National Archives, RG 318. 7. Press Copies of Official and Miscellaneous Letters Sent, 1862-1912. United States National Archives, RG 318. 8. Ibid. 9. This portrait of Morris was used again on the $10 silver certificate of 1878 and 1880. 10. The Banker's Magazine and Statistical Register, Vol. 28 (August 1873), p. 151. 11. Official and Miscellaneous Letters Received 1870-1875. This refers to U.S. patent number 56,650, held by James M. Wilcox, who devised a method whereby fibers could be introduced into "parts of the sheet while the remainder is left free." 12. The Banker's Magazine and Statistical Register, Vol. 28 (August 1873), p. 151. 13. Press Copies of Official and Miscellaneous Letters Sent, 1862-1912, United States National Archives, RG 318. 14. Official and Miscellaneous Letters Received, 1870-1875. United States National Archives, RG 318. 15. Ibid. 16. Press Copies of Official and Miscellaneous Letters Sent, 1862-1912, United States National Archives, RG 318. 17. Ibid . 18. Ibid . 19. Ibid. 20. Ibid. ADDITIONAL SOURCES Friedberg, Robert. Paper Money of the United States, 9th ed. New York City: Coin and Currency Institute, 1978. Hessler, Gene. The Comprehensive Catalog of United States Paper Money, 4th ed. Port Clinton, OH: BNR Press, 1983. . U.S. Essay, Proof and Specimen Notes. Port Clinton, OH: BNR Press. 1979. COUNTERFEIT MONEY IN WISCONSIN Within the memory of many living residents of Wisconsin, it was a dangerous matter to accept any paper money. The country was flooded from one end to the other with counterfeits and business men were continually embarrassed by the neces- sity of refusing to accept bills with which they were unfamiliar. An interesting evidence of this chaotic state of our currency has just come into the possession of the Wisconsin Historical Society. It is an old volume entitled Hodge's Bank Note Safe Guard, and purports to give a facsimile description of every variety of paper currency, some ten thousand in all, issued in the United States and Canada, at the time of its publication. It modestly claims to be the most effectual detector of spurious, altered, and counterfeit bills ever published. Without a doubt it served its purpose well, and saved its owner from frequent loss. - Wood County Reporter, Grand Rapids. Wis., Jan. 16, 1916. IN MEMORIAM Bryan G. Burke, SPMC 5547, passed away on Decem- ber 9, 1987. Burke founded the San Bernardino County Coin Club in 1948. He was a Life Member of ANA, and a former president of the California State Numismatic As- sociation. He received the Krause Publications Numis- matic Ambassador Award in 1975. According to a tribute in the Spring 1988 Calcoin News "he combined history and numismatics and enjoyed dispensing knowledge of both to his fellow numismatists. He authored articles for the ANA's monthly Numismatist, various coin publica- tions and was a staff writer for CSNA's Calcoin News." Mr. Burke's primary collecting interest was World War II memorabilia. He finished a book shortly before his death, entitled "Nazi Counterfeiting of British Pound Cur- rency During World War II." /hat /I, i'-'1.)VOS.TitANS ! ' )1{1' ti• - 4 I."' leTY ( IF VIM i",,%//;/,/,%/;,;,/i/./ hzi 40,4 ) 01,ft4',Zet,o,t7r Pennsylvania No. 12 ,00l lit Mot 71 , ."/ / /1/4 r", /.../ / /A' iii //%,, )11 Paper Money Whole No. 137 Page 153 Railroad Notes and Scrip of the United States, the Confederate States and Canada by RICHARD T. HOOBER (Continued from PM No. 136, page 126) Pennsylvania No. 14 PHILADELPHIA — HARRISBURG, PORTSMOUTH, MT. JOY & LANCASTER RAILROAD 14. 50(C (L) Train, 50 above and below. (C) Ceres, shield, CENTS left and right. (R) Woman, 50 above and below. R7 15. 1.00 No description. R7 16. 2.00 No description. Date—Jan. 31, 1838. Imprint—Draper, Toppan, Longacre & Co. Phila. & N.Y. R7 PHILADELPHIA — NORRISTOWN & VALLEY RAILROAD COMPANY 17. 1.00 (L) Train, medallion head, ONE above and below. (C) Female, between medallion heads. (R) Train, medallion head, ONE above and below. R7 Page 154 Paper Money Whole No. 137 18. 2.00 No description. Date—Nov. 4, 1837, part ink. Imprint—Underwood, Bald, Spencer & Hufty. R7 PHILADELPHIA — PHILADELPHIA & READING RAILROAD COMPANY The road was chartered April 4, 1833, to build a line connecting the two cities. Work began in the spring of 1835 and portions were opened in July, 1838. By an Act of March 20, 1838, the road was extended to Mt. Carbon, or Pottsville, one mile beyond. The Mt. Carbon Railroad merged with the Philadelphia & Reading, May 13, 1872. 19. 5.00 (L) Woman, shield above, FIVE below. (C) Train, buildings. R4 20. 10.00 Similar to No. 19, except denomination. R4 21. 50.00 Similar to No. 19, except denomination. R5 22. 100.00 Similar to No. 19, except denomination. Date—June 1, 1840, part ink. Imprint—Draper, Toppan, & Co. Phila. & New York. R5 Pennsylvania No. 19 PHILADELPHIA — PHILADELPHIA & READING RAILROAD COMPANY The following are interest-bearing wage certificates. 23. 5.00 (L) 5. (R) FIVE. R5 24. 10.00 (L) 10. (R) TEN. R5 25. 10.00 (L) 10. Date—September 18, 1879, December 8, 1879, November 15, 1879. Imprint—Allen Lane & Scott, Phila. R5 PITTSBURGH —PITTSBURGH, CASTLE SHANNON & WASHINGTON RAILROAD 26. 1.00 No description. R7 re,,,..nr. tg" Philadelphia „S'eptember1,67.9. zkvhdi eif.(effilii4v- 'bawd (,%////*/////pnioi*.ireAty!*Wee kart" Affrii/Wy.wo fi 7Wir POLLAN'S 4wateTweniy first ArtyoP Frttruarylift ; t. rt ith a/b"..titYtAiM7 ‘1/4/,' ii'liiiricni//sent 'Am Ne••• re Akrowl•A• .44,w 4e 4 tA• (4.4412.4•••• 18faceiri4Stubra,eee - • • . ,steetrO reeefilfflerthw .41.,friir et,/ x4 ,,,,&074! brae. iht6. O'1.1310-lene•Nr fir.440tei 411# graz .,..booffk.aek.at,fia,hr•,d4r•ptey. /n fail Aell4 eikkeihrio•Nrolao if Amy f•v•Ar al•fer AO, dm, &Otero!' 1•1 41901 • Prlin,or. _74. I Treasurer. Chief En i 0 IT Ojai 44", 457,5. to the boarorSix 11W WITH CALI INTEREST, ckar;rc to Construction _4cce2m1 . AP1/.#To FRANK 0. SMENKia Pennsylvania No. 32 Paper Money Whole No. 137 Page 155 Pennsylvania No. 25 READING—BERKS COUNTY RAILROAD COMPANY The railroad was chartered in 1871 and reorganized July 1874, as the Berks & Lehigh Railroad. On June 14, 1880, it was again reorganized as the Schuylkill & Lehigh Railroad, and ran from High's Farm, near Reading, to Slatington, and with branches totaled 48 miles. April 11, 1883, the road was leased to the Philadelphia & Reading, for 999 years from May 1, 1883. On December 1, 1896, the lease was assumed by the Philadelphia & Reading, and later became part of the Reading System. 27. 1.00 (L) Train. (R) 1. R4 28. 1.00 (L) Dog, safe, ONE above. (R) 1. R4 29. 5.00 Similar to No. 27, except denomination. R4 30. 5.00 Similar to No. 28, except denomination. R4 31. 10.00 Similar to No. 27, except denomination. R4 32. 10.00 Similar to No. 28, except denomination. R4 33. 20.00 Similar to No. 28, except denomination. R5 34. 50.00 Similar to No. 28, except denomination. Date—Oct. 2, 1873, part ink, for the dog vignettes. Dec. 23, 1873, for train vignettes. Imprint —None. R5 Page 156 Paper Money Whole No. 137 OLDEST CHINESE NOTE The Banker's Magazine recently printed a facsimile of a Chi- nese Treasury note of the year 1367, probably the oldest piece of paper money in existence. This note was found last January, along with other valuables, in a bronze statue of Buddha which stood in a temple within the enclosure of the summer palace of the Empress Dowager of China. Italian soldiers engaged in looting broke a hole in the base of the figure, and the paper money tum[b]led out along with gold, silver and brass coins, lentils, rice, rolls of prayers, etc. The note was issued, according to the printing on it, "by the Board of Revenue of the Emperor Hung Wu in the year 1367." and its value is stated to be "250 taels" (about $167). It professed to be "redeemable in silver bullion." Besides being the oldest known piece of paper money, this treasury note makes it clear that Gutenburg was not the first user of movable type. The note was clearly printed with movable type at a date over a hundred years before Gutenburg began to experiment. — Winona (Minn.) Republican and Herald, July 25, 1901. (Paper money was first used in China during the reign of Yan H'u (A. D. 806-820), some say as early as Kao Tsung (A.D. 650-683); it was not printed but handwritten. Although Gutenburg developed printing from movable type in Europe in the mid-15th century, examples of movable type were first made in Korea in 1403. The note described and illus- trated was printed from a wood block, not movable type. Surviving notes of this type. 8 3/4 x 13 1/2 inches, are rather expensive. Realistic replicas printed on handmade, mulberry bark paper are available for $28 from the ANA Museum Store. 818 N. Cascade Ave., Colorado Springs, CO 80903-3279.) (ed.) WHEN A CHINESE BANK FAILS Bank notes were issued in China as early as the ninth century, when the art of printing was unknown in Europe. These notes have generally been redeemed, because in China, when a bank fails, all the clerks and managers have their heads chopped off and thrown in a heap along with the books of the firm. And so it has happened in those good old barbarous times that for the past 500 years not a single Chinese bank has suspended payment. Now that China is coming under the sway of western civiliza- tion, we have no doubt it will have the same financial troubles as its more civilized banking brethren. — Chambers' Journal. — Sanborn (N. Dak.) Enterprise, Dec. 31, 1893. NEWSPAPER CURRENCY A California publisher has issued a new style of currency which he describes as follows: Pay checks in cherry color, printed in $5 amounts except one blank for the odd amount in pay due, are supplied to the em- ployes of the Mail, of Woodland. "They show the merchants," advises Eugene C. Stowe, publisher, "that they are getting some of the home town newspaper money, and they are a silent aid to the advertising man. When our merchants see some of these cherry checks in the pile they take to the bank, they know they came from the newspaper. We print them for each month, and the boys like to carry them instead of cash." —North Dakota Press Association Bulletin, Aug. 1929. CHANGES IN DUES PAYMENT All members are required to make a payment toward their 1989 dues. Please compare the date on the label on your dues envelope to the following table and make the appropriate payment: 1-89 $20.00 6-89 $9.99 2-89 $16.65 8-89 $6.66 4-89 $13.32 10-89 $3.33 If you have any questions please contact the Sec- retary. Paper Money Whole No. 137 Page 157 •••■pr,"', Interest Bearing Notes DurandRoger H. The 12th Annual International Paper Money Show You have probably already read that this show set its all time at- tendance record. If not the best, it certainly was one of the most outstanding paper money shows to date. Our general meeting had one of the largest attendance I have witnessed. After the meeting, Tom Synder spoke on the small-size national SPMC project; it was well received. At our annual banquet, the Tom Bain raffle set a new record for receipts and also for the largest amount and value of the donated material. I would like to thank everyone who helped make this event a success. We awarded no best of show plaque for the exhibits. The SPMC had no for- mal program for the appointing of judges, judging rules, etc. This problem is being corrected. Rules for paper money exhibits are being formed. I have appointed a committee to handle judg- ing so that this unfortunate occurrence will not be repeated. On behalf of the Society, I would like to offer my apologies to the exhibitors. Wismer Round Table This event was well attended by authors, past and present. Many new ideas were discussed, which left the current authors with a feeling of satisfaction. James Haxby spoke and volun- teered some interesting ideas toward research and numbering. This was discussed at length and the new authors left with plenty of helpful information. With the enthusiasm exhibited by those present, I'm sure this project will continue to flourish. Wismer Project Update A new author has been assigned for the state of Nevada. Please send any information or new discoveries concerning Nevada to: Douglas McDonald, 320 S. Wells, Reno, NV 89502 A new up-to-date listing for all state authors will appear in PAPER MONEY in the near future. There are a few more new appointments under consideration and they will be reported as they are assigned. We will then provide the membership with a master listing of all authors. The 97th ANA Anniversary Convention The ANA Convention was well-attended, judging by the activity at the dealers' tables. There was not as much paper money in evidence as in the past two conventions, but most collectors found a few new notes for their collections. Our regional meet- ing was also well-attended. John Wilson, the guest speaker, conducted the meeting in my place as I did not arrive until Thursday, the day after our meeting was scheduled. Since we awarded no best of show plaque in Memphis, we honored the best paper money exhibit with an award at this show. We also gave the Julian Blanchard award to the best paper money ex- hibit with a tie-in to proofs, vignettes, postage stamps and relat- ed material. This is the last time this award will be given at the ANA. It will be awarded in Memphis in the future. Gene Hessler won both the awards. The 3rd International Paper Money Convention The next paper money event during this busy season will take place in conjunction with the GENA show at Cherry Hill, New Jersey from Sept. 23rd through the 25th, 1988. Check the publications for times and location. We will hold a regional meeting in conjunction with this show and will also make our hospitality table available. If any members would like to assist the SPMC, please see me at the table. We appreciate any help our members can provide. Hope to see you all in New Jersey. RECRUITEMENT REPORT Collector N. Oppenheim 5 B. Cochran 4 R. Balbaton 4Dealer T. Denly 2 AWARD WINNERS AT CINCINNATI ANA CONVENTION The following received awards for their paper money exhibits in the specified categories. In one instance there was no second or third place award. U.S. Paper Money. first, Martin Leimkuhler (Fractional Currency and Its History); second, William Mross (Evolution of $1 Large-Size Silver Certificates); third, Tommy Acker (Spartanburg, SC Nationals). U.S. Obsolete Paper Money: first, Dr. Radford Stearns (State of Georgia 1861-1865). Foreign Paper Money: first, Gene Hessler (Five Bank Note Artists); second, Fred Schwan (German Barter Units 1946- 1948); third, Jesse Patnck (New Ink May Revolutionize Cur- rency). In the Junior category the following awards were made. First, Laura Lewis (Florida Fractional Currency Sheets, 3rd Issue); second, Greg Lyon (Disney Dollars); third, Paul D'Arcy (Un- wanted Currency: The History of the Small-Size $2 Bill). The Julian Blanchard Award, given by the SPMC for an ex- hibit that combines bank notes, proofs, vignettes and stamps was received by Gene Hessler for his exhibit previously men- tioned. Henry N. McCarl (first literary award) and President Roger Durand. Mike Crabb and Bob Charles (ABNCo) open the show. Ron Horstman addresses the SPMC meeting. Master-of-ceremonies Wendell Wolka, at left, and banquet speaker Fred Schwan. (Photographs by Chiyo and Roy Peterson) Tom Snyder addresses the SPMC meeting. J. Roy Pennell, Jr. (Nathan Gold Award). Bob Cochran (second literary award). Paper Money Whole No. 137Page 158 MEMPHIS MEMENTOS MEMBERSHIP DIRECTOR Ronald Horstman N EIN St. Lo Pu i.s0 .m130o x636013191 MEMBERS 7640 Shawn Henry, 1221 Faichney Dr., Apt. 1, Watertown, NY 13601: C, U.S. bank notes. 7641 Peter M. Frenzel, 798 N. William St.. Baldwin, NY 11510-1434. 7642 Don Voss, 4305 Scout Camp Rd., Eveleth, MN 55734; C, MN national bank notes. 7643 David M. Stouffer, 4601 Zebra Ln., St. Joseph. MO 64506; C, Type notes. 7644 Keith Edison, P.O. Box 26, Mondovi, WI 54755; C&D, National bank notes. 7646 James Haxby, 4400 NW Walnut Blvd. #50, Corvallis, OR 97330; C. 7646 William Popynick, P.O. Box 17584, Plantation, FL 33318; D, U.S. & world. 7647 Duane Rice, Rt. 2, Box 133, Black River Falls, WI 54615; C, National currency. 7648 James McGovern, 12025-56th Place S Seattle. WA 98176; C, World-wide currency. 7649 Raye Benefield, Drawer B, Guntersville. AL 35976; C, National bank notes. 7650 Lew Newman, RD 4 Bello Vedere, Wheeling, WV 26003; C. 7651 David Higgs, Rt. 2, Box 259, Cookeville, TN 38501; C, Large Size US. 7652 Frank Lanza, 28 Hurtin St., Port Jefferson Sta., NY 11776; C. 7653 Nicholas Aitchison, Chantry Cottage, High St. Girton, Nr. New- ark, Notts, UK; USA Confederates/English Provincial. 7654 Tom Lovett, P.O. Box 100, Warm Springs, GA 31830; C, CSA, Fractionals, GA. Large. 7655 Warde H. Dixon, P.O. 415, Camarillo, CA 93011-0415; C&D. 7656 Larry Rafferty, RD 1, West Milton Rd., Ballston Spa, NY 12020; C, Large U.S. currency. 7657 Robert J. Leuver, P.O. Box 16761, Colorado Springs, CO 80935-6761. 7658 John W. Stevens, RD *2, Whitehall, NY 12887; C. National bank notes. 7659 Kevin J. Klitzke, 1377-2nd Ave Newport, MN 55055; C, Canada, U.S. Small Size. 'ABEL j e natingIVorlb of ebecti Cottecting ******** * Join us and receive our quarterly journal, THE CHECK COLLECTOR. The Society has interest and appeal for check collectors and those interested in banking history, fiscal documents, revenue stamps, vignettes and security printers and stock and bond certificates. A slide program is available to members. The friendliest collectors anywhere! THE AMERICAN SOCIETY OF CHECK COLLECTORS Charles Kemp, Secretary 2075 Nicholas Court, Warren, MI 43092 Paper Money Whole No. 137 Page 159 MOnt mar WANTED: 1907 clearing house scrip and checks. Need examples from most states, please send full description or photocopy with price. I am particularly interested in Washington, Oregon, Georgia, New York, Ohio, Michigan, and Texas. Need information on other states also. Tom Sheehan, P.O. Box 14, Seattle, WA 98111. (139) OHIO NATIONALS WANTED: Also want Lowell, Holland. Tyler. Ryan, Jordan, O'Neill. Private Collector. Lowell Yoder, P.O. Box 444, Holland, OH 43528. (142) Paper Morey will accept classified advertising from members only on a basis of 15C per word, with a minimum charge of $3.75. The primary purpose of the ads is to assist members in exchanging, buying, selling, or locating specialized material and disposing of duplicates. Copy must be non-commercial in nature. Copy must be legibly printed or typed. accompanied by prepayment made payable to the Society of Paper Money Collectors, and reach the Editor. Gene Hessler. P.O. Box 8147. St. Louis, MO 63156 by the tenth of the month preceding the month of issue (i.e. Dec. 10. 1988 for Jan. 1989 issue). Word count: Name and address will count as five words. All other words and abbreviations, figure combinations and initials count as separate. No check copies. 10% discount for four or more insertions of the same copy. Sample ad and word count. WANTED: CONFEDERATE FACSIMILES by Upham for cash or trade for FRN block letters, $1 SC, U.S. obsolete. John W. Member, 000 Last St., New York, N.Y. 10015. (22 words: $2: SC: U.S.: FRN counted as one word each) WANTED: MACERATED MONEY: postcards and any other items made out of macerated money. Please send full details to my attention. Bertram M. Cohen. PMW, 169 Marlborough St., Boston, MA 02116 (138) NEW YORK NATIONALS WANTED. Athens, Catskill, Coxsackie, Germantown, Hudson, Hunter, Kinderhook, Philmont, Tannersville. Windham. Send description and price. All letters answered. Robert Moon, Box 81, Kinderhook, NY 12106 (138) KALAMAZOO, MICHIGAN NATIONALS WANTED. Also want Michigan Nationals with serial number ONE and Michigan cancelled checks prior to 1900. Jack Fisher, 3123 Bronson Blvd., Kalamazoo, MI 49008. (140) NUMBER 1 and 11111111 UNITED STATES type notes wanted and unusual United States error notes. Jack Fisher, 3123 Bronson Blvd ., Kalamazoo. MI 49008. (140) KUWAIT 1960 NOTES in regular issue and specimen, also want Jor- dan, Saudi Arabia and scarce Middle East notes. Jack Fisher, 3123 Bronson Blvd., Kalamazoo, MI 49008. (140) CANADA WANTED. 1923 $2 all signatures and seals. Low serial numbers 1935 Bank of Canada and Canada specimen notes. Jack Fisher, 3123 Bronson Blvd., Kalamazoo, MI 49008. (140) STOCK CERTIFICATES & BONDS — buy and sell! Current catalog of interesting certificates for sale, $1. Buying all—but especially interest- ed in early Western certificates. Ken Prag, Box 531PM, Burlingame. CA 94011, phone (415) 566-6400. (149) WANTED, ALL OBSOLETE CURRENCY, ESPECIALLY GEOR- GIA, which I collect. Particularly want any city-county issues, Atlanta Bank. Georgia RR Banking, Bank of Darien. Pigeon Roost Mining. Monroe RR Banking. Bank of Hawkinsville, La Grange Bank, Central Bank Milledgeville, Ruckersville Banking Co., Bank of St. Marys, Cot- ton Planters Bank, any private scrip. I will sell duplicates. Claud Mur- phy, Jr., Box 15091, Atlanta, GA 30333. (138)) WANTED: OBSOLETE CURRENCY, SCRIP, BANK ITEMS AND CONFEDERATE ITEMS OF NORTH CAROLINA. Single items or collections. Send description and price. Jim Sazama, P.O. Box 1235, Southern Pines, NC 28387. (139) BANK NOTE CO. SAMPLE BOOKS WANTED. Also annual re- ports or sales brochures featuring vignettes. Jeff Price, P.O. Box 5579. Santa Monica, CA 90405. (137) BONDS & SHARES. Private collector will buy all your unwanted stock and bond certificates for cost at a price. All countries and classifi- cations before 1940. Send photocopy and price wanted. J. Glaser. 6900 E. Camelback Rd., Suite 430, Scottsdale, AZ 85251. (139) UNCIRCULATED, original. unprocessed U.S. large-size type and large nationals wanted by collector. Paying over green sheet for some choice CUs and many gems. Write: Michael Abramson. P.O. Box 6105, Duluth, MN 55816. (137) PAPER MONEY MAGAZINES WANTED: I need original issues of the first twelve PAPER MONEY magazines published by SPMC, sets considered. Robert Galiette, 10 Wilcox Lane, Avon, CT 06001. (138) WANTED FOR my personal collection, large and small-size national currency from Atlantic City, NJ. Don't slip, write first with what you have for sale. Frank lacovone, P.O. Box 266, Bronx, NY 10465-0266. (140) BUYING OLD BANK CHECKS, certificates of deposit, bills of ex- change, older books on Confederate or obsolete bank notes. Bob Pyne • P.O. Box 149064. Orlando, FL 32814. (145) WANTED: INVERTED BACKS FOR MY PERSONAL COLLEC- TION Any condition. large and small-size notes. Please send photo or description with your price for the notes. Lawrence C. Feuer, c/o C &F, 200 E. Post Rd., White Plains, NY 10601. (146) Paper Money Whole No. 137Page 160 U.S. PAPER MONEY COLLECTORS! Bank Note Reporter is for you! U.S. Paper Money Collectors! Get more news of your particular collecting interest, every month, in Bank Note Reporter. Bank Note Reporter is the only independently produced publication that blankets the entire paper money spectrum. You'll get all the news you need. And, you'll find it a convenient way to keep current on U.S. and world notes, plus all other related fiscal paper. Bank Note Reporter is your one-stop paper money information source. Make sure you're in the know, by entering your subscription now. Take advantage of our special half-year offer. Or request a free sample issue (U.S. addresses only). —4 r Mail to Bank Note Reporter Circulation Dept. 700 E. State St., Iola, WI 54990 Enter my Bank Note Reporter subscription as follows: ) New ) Renewal/Extension (attach your mailing label) )1/2 year (6 issues) $10.95 Foreign addresses send $15.95. Payable in U.S. funds. ) Send me a free sample issue (U.S. addresses only) Name Address City State _Zip ( ) MasterCard/VISA Credit Card No Expires: Mo. Yr Signature ) Check or money order (to Bank Note Reporter) Note: Charge orders will be billed as Krause Publications. BVY L. Paper Money Whole No. 137 Page 161 ,,,, ,of, e EARLY., ,, ,-:, AMERICANk , , 10 3. I\ -i-.. * NUMISMATICS r^z \ , .. .k. ,....-- *619-273-3566 COLONIAL & CONTINENTAL CURRENCY SPECIALIZING IN: SERVICES: q Colonial Coins q Portfolio q Colonial Currency Development q Rare & Choice Type q Major Show q EARLY Coins Coverage q Pre-1800 Fiscal Paper q Auction We maintain the LARGEST ACTIVE INVENTORY IN THE WORLD! 0 SEND US YOUR WANT LISTS. FREE PRICE LISTS AVAILABLE. AMERICAN NUMISMATICS CO Dana Linett q Encased Postage Stamps Attendance ■ P.O. Box 2442 ■ LaJolla, CA 92038 ■ 619-273-3566 Members: Life ANA, CSNA-EAC, SPMC, FUN, ANACS WANTED BUYING WANTED We are especially anxious to purchase the following UNITED STATES NOTES for the personal collection of AUBREY AND ADELINE BEBEE. The acquisition of any of these scarce notes will bring our outstanding paper money collection nearer to completion. We would be grateful for any notes that you could send us in the grades specified. Please send notes, indicating the prices desired or for our Top Cash offer. A quick, pleasant deal is always assured you at BEBEE'S. GOLD CERTIFICATES — AU TO UNC. 1882 $50 Large Red Seal. FR. 1191 1882 $100 Large Red Seal. FR. 1204 1882 $100 Brown Seal. FR. 1203 1882 $100 Lg. Brown Seal. FR. 1205 SILVER CERTIFICATES 1880 $1,000 FR. 346B/D AU to UNC. 1891 $1.000 FR. 346E VF to UNC. 1899 $1, #11111111; 22222222, #77777777; 88888888 UNC. 1882 $5.00 NATIONAL BROWN BACK NOTES BEBEE'S is paying $600 to as high as $2,000 — depending on Rarity and Grade — for the following 1882 $5 Brown Back Nationals: ALABAMA - ARIZONA - ARKANSAS - CALIFORNIA - COL- ORADO - FLORIDA - IDAHO - MARYLAND - MISSISSIPPI - MONTANA - NEVADA - NEW MEXICO - NORTH DAKOTA - RHODE ISLAND - SOUTH DAKOTA - WYOMING. AU to UNC . TERRITORIAL NATIONALS 1882 $5 ARIZONA - IDAHO - WYOMING. AU to UNC. (Second Choices: Other Denom., Grades.) We are also paying TOP IMMEDIATE CASH prices for Double-Denomination Notes, Other Territorials, Rare Large-Size Nationals, No. 1 & Star Notes, and Uncut Sheets (4 & 12). Please give us a try — BEBEE's has been a leading specialist in U.S. Paper Money since 1941. AUBREY & ADELINE BEBEE P.O. Box 4290, Omaha, NE 68104 • (402) 558-0277 26 Broadway New York, NY 10004 NY residents Toll-Free 800-622-1880 call 212-943-1880 Page 162 Paper Money Whole No. 137 Caul: of Comm 9.:,..„.b. ,_ ... ,. To The Highest Bidder-, Lla . NASCA Auctions reach the nation's most important collectors of U.S. and International Coins. Currency, Stocks & Bonds, Autographs. Medals, Tokens, and Related Items, Consigning is easy. Immediate cash advances are readily available. Sell Your Coins & Currency N .. 82 • elta •,,EAGHTEIN PENCF fr... 4,..>” 7/e , E IGHTEEN PENCE. Accepting Consignments Now For These Auctions: JUNE 1988, MEMPHIS INTERNATIONAL A major offering of STOCKS, BONDS & RELATED ITEMS. Closes April 15, 1988. JUNE 1989 & 1900, MEMPHIS. Major public auctions to be held in conjunction with BOTH the 1989 & 1990 MEMPHIS 11617S71..n'_") n INTERNATIONAL PAPER MONEY SHOWS! Plan ahead. Space will be at a premium in both catalogues which will feature FULL COLOR photography. U.S. & INTERNATIONAL CURRENCY, STOCKS & BONDS & RELATED ITEMS. NASCA Division of R.M. Smythe & Co., Inc. Subscription Information: U.S. & CANADA OVERSEAS One Year Two Years Three Years One Year 1Wo Years Three Years NASCA $45 $80 $105 $55 $100 $125 FRIENDS OF FINANCIAL HISTORY $25 $45 $60 $30 $55 $75 COMBINED SUBSCRIPTION $70 $120 $160 $85 $150 $195 WANTED OBSOLETE PAPER MONEY (Bank Notes, Script, Warrants, Drafts of the AMERICAN WEST Oregon, California, Idaho, Nevada, Arizona, Utah, Montana, New Mexico, Colorado, Dakota, Deseret, Indian, Jefferson Territories! Cash paid, or fine Obsolete Paper traded. Have Proof notes from most states, individual rarities, seldom seen denominationals, Kirtlands, topicals; Colonial, Continental; CSA, Southern States notes and bonds. Also have duplicate West- ern rarities for advantageous trade. JOHN J. FORD , JR. P.O. BOX 10317, PHOENIX, AZ 85064 BUYING AND SELLING CSA and Obsolete Notes CSA Bonds, Stocks & Financial Items Extensive Catalog for $2.00, Refundable With Order ANA-LM SCNA PC DA HUGH SHULL P.O. Box 712 / Leesville, SC 29070 / (803) 532-6747 SPMC-LM BRNA FUN SHING LEE STAMPS & BANK NOTES POSTAL AUCTION No. 10 for Chinese Bank Notes and Bonds More than 1000 lots for each Auction held every two to three months. Materials including People's Re- public and Japanese Occupation Paper Money, Cheques and Bonds . . . etc. — — — Illustrated Catalogue Free on Request — — — DEALERS/INVESTORS: We have the largest stock of inexpensive Chinese Banknotes of good quality. Please write for details. Room 9. 2F Shing Lee Com. Bldg., 6-12 Wing Kut St., Central, Hong Kong — TEL. 5-8153456 31..„ 4.74WItt0.% THE BANK OF SI LOUIS /.;rra )1X+AV., KLIED1-91:13 ST. LOUIS, MISSOURI OBSOLETES AND NATIONALS WANTED RONALD HORSTMAN P.O. BOX 6011 ST. LOUIS, MISSOURI 63139 HARRY IS BUYING NATIONALS — LARGE AND SMALL UNCUT SHEETS TYPE NOTES UNUSUAL SERIAL NUMBERS OBSOLETES ERRORS HARRY E. JONES PO Box 30369 Cleveland, Ohio 44130 216-884-0701 BUYING / SELLING. OBSOLETE CURRENCY, NATIONALS• UNCUT SHEETS, PROOFS, SCRIP BARRY WEXLER, Pres. Member: SPMC, ANA, FUN, GENA, CCRT (914) 352.9077 LA414741._U INC. P.O. BOX 84 • NANUET, N.Y 10954 Paper Money Whole No. 137 Page 163 BUYING PAPER MONEY Nationals, Errors, Type Notes, Stars, Number 1 & 2 Notes, Radars, Solid Num- bers, Ladders. Ship with confidence or write for our offer. We pay more for quality unmolest- ed material. ROBERT and DIANA AZPIAZU P.O. Box 1565 St. Augustine, FL 38085-1565 (904) 979-8622 X It, 114- 11 . 1 ,N1 ),....7DrA•: - 111■■•■ Walt Alcott Numismatics and Paper Americana 0 IA SIBEIT i itL.F 1)(*. Yellow-Aster Mine Co. Randsburg, CA, 1902 $22. California Street Cable Railroad San Francisco, CA, 1890s $25. One of each $40. Stocks • Bonds • Checks • Maps Engravings • Labels • Etc. Box 3037 • Quartz Hills, CA 93534 805-942-7105 MEMBER: ANA (LM); SPMC; CSNS; PSNA; PCDA SPECIAL INTRODUCTORY OFFER! We will send you the following 5 of our most popular Numismatic Souvenir Cards from the B.E.P. at a very Special Price! #48 A.N.A. '74 $10 FACE (Proposed) "Education" Series #71 A.N.A. '77 $ 5 FACE (1899) "Chief Running Antelope" $ 39.2255 #85 I.P.M.S. '80 $10 FACE (1901) "Buffalo Bill" Note 10.97 #98 I.P.M.S. '81 $20 FACE (1905) "Technicolor" Gold Certificate 16.25 #99 A.N.A. '81 $ 5 BACK (1886) "Silver Dollar" Certificate 12.97 ALL 5 SOUVENIR CARDS ABOVE ($52.69 Retail), just $37.00! Paper Money Whole No. 137 gnterestingo*_-, =PIXates About Denominations By *ger 3-1. Durand This new profusely illustrated book covers the history of over a hundred denominations used on notes during the state banking era. This book is a MUST for the obsolete bank note collector. $18.95 + $1.05 P&I ROGER H. DURAND P.O. Box 186 Rehoboth, Mass. 02769 Page 164 DO YOU KNOW WHAT THIS IS? (HINT: It is printed on only one side!) ANSWER: This vignette, printed from a plate prepared from the original die, appears full-size on the Bureau of Engraving and Printing's Souvenir Card honoring the I.P.M.S. Convention in 1971! RUSS BELL (415-435-9494) P.O. Box 859P Tiburon, CA 94920 A ACCEPTED! Please add $2 postage & handling, plus 6% tax for Californians. Our comprehensive Souvenir Card price lists (normally $1) are included! Million Dollar Buying Spree Currency: Nationals MPC Lg. & Sm. Type Fractional Obsolete Foreign Stocks • Bonds • Checks • Coins Stamps • Gold • Silver Platinum • Antique Watches Political Items • Postcards Baseball Cards • Masonic Items Hummels • Doultons Nearly Everything Collectible 405 SHOPCOINEST 1960 INC " iiiiyhot&yot" SEND FOR OUR COMPLETE PRICE LIST FREE 399 S. State Street - Westerville, OH 43081 1-614-882-3937 1-800-848-3966 outside Ohio Life Member / 24.1.31 BANKS 1868 UNION NATIONAL BANK (Philadelphia) $75 Black/White Capital Stock certificate with several attractive vignettes. One of the very few engraved banking stocks, from the American Bank Note Company. Pen-cancelled, otherwise in VF + condition. Our Current BANK listing includes more than 3 dozen Bank stocks, from 1812 to 1933, many with vignettes by the major bank note companies of the 19th century. Call or write today and ask for our BANK listing, or for our general catalogue of more than 150 stocks and bonds. CENTENNIAL DOCUMENTS P.O. Box 5262, Clinton, NJ 08809 (201) 730-6009 Read Money Mart Scarce mules wanted! Please ship. $2 Legal Tender 1928C back plates higher than 289 $5 Federal Reserve 1934A back plates less than 939 $5 Legal Tender 1928C and D back plate 637 other scarce mules, any denomination Peter Huntoon P.O. Box 3681 Laramie, WY 82071 PAPER MONEY UNITED STATES Large Size Currency • Small Size Currency Fractional Currency • Souvenir Cards Write For List Theodore Kemm 915 West End Avenue q New York, NY 10025 Paper Money Whole No. 137 Page 165 Oregon Paper Money Exchange Mift. 11.111,51 The City -of 0 OBSOLETES • COLONIALS STOCK CERTIFICATES & BONDS CONFEDERATES • OLD CHECKS NORTHWEST DEPRESSION SCRIP CURRENT LIST FOR $1.00 — REFUNDABLE — Ask About Our Upgrading Program --- WE BUY, TOO --- Send For Our Catalog Today! OREGON PAPER MONEY EXCHANGE 6802 S.W. 33rd Place, Portland, OR 97219 (503) 245-3659 (EVES) BUYING and SELLING PAPER MONEY U.S., All types Thousands of Nationals, Large and Small, Silver Certificates, U.S. Notes, Gold Cer- tificates, Treasury Notes, Federal Reserve Notes, Fractional, Continental, Colonial, Obsoletes, Depression Scrip, Checks, 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 47906 S PM C #2907 ANA LM #1503 .74*',P 71 CURRENCY CIATION I vii:as4.,46kaa7a,,avAmrhapv •Broken Bank Notes •Southern State Issues •Confederate Currency •Merchant Scrip •Collections Needed: Buy/Consignment Approval Service Available— Supply One Dealer Reference or Your S.P.M.C. Number. PRICE LIST — Enclose Large Size 22c Self-Addressed Stamped Envelope. Topical interests or states collected and desired collectable grades are helpful if approvals are re- quested. DON EMBURY 12321/2 N. GORDON STREET, LOS ANGELES, CA 90038 S.P.M.C. 3791 FREE SUBSCRIPTION! (3-Issue Trial Offer) Nationwide Collectors Club Shows You How to Boost Your Collectibles I.Q.! ol)x -Ile?°" • Learn about coins, toys, stamps, scrIpophIly, gold nug- gets, old maps, art, netsuke, and many other treasures. • Shop In the comfort of your own home. • Buy at below retail! • Plug Into a network of like- minded collectors — buy, sell, trade. • Get timely answers to your collectibles questions. J i • Cash In on the collectibles pay-offs of the 80s and 90s. From masthead to final period, Kent's Collectibles Report contains I.Q.-boosting Information that is unique, useful, exciting and profitable! "Each issue is a memorable collectibles safari." — A.G. Bonham, San Gabriel, CA To get your 3 issues, simply send 664 postage with your name and address. Name Street City State Zip Mall to KICC, P.O. Box 5001, Sonora, CA 95370 or Call 209-533-1302 Collectibles- _ _ _ Report RePort-S. Page 166 Paper Money Whole No. 137 311,tioeptivpsAkisiciwCANAit t* 0, 431 0;4,, TIOe v,4 a., CANADIAN BOUGHT AND SOLD • CHARTERED BANKNOTES. • DOMINION OF CANADA. • BANK OF CANADA. • CHEQUES, SCRIP, BONDS & BOOKS. FREE PRICE LIST CHARLES D. MOORE P.O. BOX 1296P LEWISTON, NY 14092-1296 (416) 468-2312 LIFE MEMBER A.N.A. #1995 C.N.A.#143 C . P . M . S. #11 I COLLECT MINNESOTA OBSOLETE CURRENCY and SCRIP Send Notes or Photo Copies with Prices Wanted or for Fair Offer to: Charles C. Parrish P.O. Box 481 Rosemount, Minnesota 55068 SPMC 7456 LM ANA 1853 ,, ""A40,A WE NEED TO BUY If you are selling a single note or an entire col- lection, you will be pleased with our fair offer — NO GAMES PLAYED HERE! (Selling too! Write for free catalog.) Subject to our inventory requirements we need the following: ALL WORLD BANK NOTES Also U.S. Large Size Notes All Military Currency U.S. Fractional Currency Colonial Currency U.S. Encased Postage Souvenir Cards National Bank Notes U.S. Small Size Currency Ship With Confidence or Write We pay more for scarce or rare notes. TOM KNEBL, INC. (714) 886-0198 P.O. Drawer 3949 San Bernardino, CA 92413 41 • I: ' , IOU, IAN A. MARSHALL P.O. Box 1075 Adelaide St. P.O. Toronto, Ontario Canada, M5C 2K5 WORLD PAPER MONEY Also World Stocks, Bonds and Cheques 416-365-1619 Paper Money Whole No. 137 Page 167 Page 168 Paper Money Whole No. 137 I„, :11111,1;1 , rtNi 110 1 1 II' . • WE ARE ALWAYS BUYING ■ FRACTIONAL CURRENCY ■ ENCASED POSTAGE ■ LARGE SIZE CURRENCY ■ COLONIAL CURRENCY WRITE, CALL OR SHIP: 10-40-411110-40-41 77 —0) '!Ec.:g 4,r3i Cf-D Tiny. LEN and JEAN GLAZER (718) 268.3221 POST OFFICE BOX 111 FOREST HILLS, N.Y. 11375 )(11. 1 .1 fC - 1()\ i) I (low, _ _lei. NI 4 2— ('hurter Member FROESSIOhk NUMISMATISTs c.uit.0 • Ira LM-2349 Charter Member V X IM \ 10.41 1.1( XII ( -MRS JP aroWCE" LM-5773 LIBRARY Dave Bowers has always said buy the book first, and he became president of A.N.A. Maybe now is the time for you to buy the book, and who knows, you might replace Reagan! COLONIAL 1. The Early Paper Money of America by Eric Newman, First Edition, one copy only, hard to find $29.50 + 1.00 2. The Early Paper Money of America by Eric Newman, Second Edition, the Bi- ble for colonial currency 24.50 + 1.50 TYPE NOTE 3. Standard Catalog of United States Paper Money by Krause & Lemke, First Edition, new, never opened, one copy only 15.00 + 1.00 4. Standard Catalog of United States Paper, Fourth Edition, the current edition and great as it includes rarity of national banks by charter # 14.00 + 1.00 5. Paper Money of the United States, 11th Edition by Robert Friedberg, a necessity to any collector 17.50 + 1.50 6. Paper Money of the U.S. by Robert Friedberg, Second Edition (1955), one copy only 30.00 + 1.50 7. Paper Money of the U.S. by Robert Friedberg, Third Edition (1959), one copy only 25.00 + 1.50 8. Paper Money of the U.S. by Robert Friedberg, Fourth Edition (1962), one copy only 20.00 + 1.50 9. Paper Money of the U.S. by Robert Friedberg, Fifth Edition (1964), one copy only 20.00 + 1.50 10. Handbook of Large Size Star Notes 1910-1929 by Doug Murray, a good book to have! 14.95 + 1.00 NATIONAL CURRENCY 11. National Bank Notes, a guide with prices by Kelly, a must book! 2nd Edition 36.00 + 1.50 12. Standard Catalog of National Bank Notes by Hickman & Oakes, a wealth of information 70.00 + 2.50 13. Territorials, a guide to U.S. territorial national bank notes by Huntoon 13.50 + 1.50 14. The National Bank Note Issues of 1929-1935 by M.O. Warns, one copy only 19.50 + 1.50 15. Charter Number Two, the centennial history of the First New Haven National Bank (Connecticut) 1963, one copy only 11.95 + 1.25 16. Nevada Sixteen National Banks and their Mining Camps, a wonderful book full of history, M.O. Warns, SPECIAL 35.00 + 2.00 CONFEDERATE 17. Confederate and Southern States Currency, (1976 Edition) by Criswell 2 copies available, 35.00 + 1.00 18. Confederate and Southern States Bonds, by Criswell, 2nd Edition 14.95 + 1.00 FRACTIONAL CURRENCY 23. Encyclopedia of United States Fractional and Postal Currency, Milton Friedberg, the book for the real info on fractional, out of print and hard to find! 19.00 + 1.00 24. A Guide Book of U.S. Fractional Currency by Matt Rothert (1963), the first I have had for sale, one copy only 9 95 + .50 OBSOLETE CURRENCY 26. ALABAMA - Alabama Obsolete Notes and Scrip, by Rosene 13.50 + 1.50 27. ARKANSAS - Arkansas Obsolete Notes and Scrip, by Rothert, a great book 17.00 + 1.50 28. COLORADO - Colorado Territorial Scrip by Mumey Wanted 29. DEPRESSION - Standard Catalog of Depression Scrip of the United States, by Mitchell & Shafer, a well done new item 21.50 + 1.50 30. FLORIDA Florida Obsolete Notes & Scrip, by Freeman Wanted 31. FLORIDA - Illustrated History of Florida Paper Money by Cassidy, now out of print! 29.95 + 1.50 32. INDIAN TERRITORY - Indian Territory and Oklahoma Obsolete Notes and Scrip by Burgett, Kansas Obsolete Notes and Scrip by Steven Whitfield, two books in one 13.50 + 1.50 33. INDIANA - Obsolete Notes and Scrip by Wolka, Vorhies & Schramm 13.50 + 1.50 34. IOWA - Iowa Obsolete Notes and Scrip by Oakes 13.50 + 1.50 35. MAINE - Maine Obsolete Notes & Scrip by Wait 13.50 + 1.50 36. MICHIGAN - Obsolete Banknotes & Early Scrip by Bowen, hard cover reprint by Durst 39.50 + 1.50 37. MICHIGAN - Obsolete Banknotes by Bowen, the original book, a collector's item, one copy only 50.00 + 1.50 39. MINNESOTA - Minnesota Obsolete Notes & Scrip by Rockholt 13.50 + 1.50 40. MISSISSIPPI - Mississippi Obsolete Notes and Scrip by Loggatt, out of print and very hard to find! 27.95 + 1.50 MORMAN - See #54 41. NEBRASKA - Territorial Banking in Nebraska by Owen 7.95 + .50 42. NEBRASKA - A History of Nebraska Paper Money & Banking by Walton Wanted 43. NEW ENGLAND - The Obsolete Bank Notes of New England by Wismer - Ouarterman reprint, one copy 22.00 + 1.00 44. NEW JERSEY New Jersey's Money by Wait 16.50 + 2.50 45. NEW YORK - Obsolete Bank Notes of New York by Wismer, Durst reprint 17.95 + 1.00 46. NORTH CAROLINA - Obsolete Bank Notes of North Carolina by Pennell, Durst reprint 7 95 + .75 47. OHIO - Obsolete Bank Notes of Ohio by D.C. Wismer, Durst reprint 8.95 + .75 OKLAHOMA - See #32 48. PENNSYLVANIA - Obsolete Bank Notes of Pennsylvania by Wismer, Durst reprint 11.95 + .75 49. PENNSYLVANIA Obsolete Notes and Scrip by Hoober 30.00 + 1.75 50. RHODE ISLAND - Obsolete Notes and Scrip of Rhode Island and the Pro- vidence Plantations, by Durand 20.00 + 1.50 51. SOUTH CAROLINA - South Carolina Obsolete Notes by Austin Sheeheen Jr., a hard to find super book 14.95 + 1.00 52. TENNESSEE - The History of Early Tennessee Banks by Garland 29.50 + 2.00 53. TEXAS - Obsolete Notes & Scrip by Medlar, out of print, rare . 26.00 + 1.50 54. UTAH - Mormon and Utah Coin & Currency by Rust, every note pictured with values 30.00 + 1.50 55. VERMONT - Obsolete Notes & Scrip by Colter, out of print SPECIAL 19.95 + 1.50 56. VIRGINIA - The Obsolete Paper Money of Virginia Volume I by Affleck, this book covers scrip issues Wanted 57. VIRGINIA - The Obsolete Paper Money of Virginia Volume II by Affleck, this book cover banknotes, out of print 25.00 + 2.00 60. COUNTERFEIT DETECTER - Hodge's American Bank Note Safe Guard, reprint of 1865 edition, one copy only 25.00 + 1.50 The second number after price is for postage & handling with a $5.00 maximum. IMPROVED MYLAR "D" CURRENCY HOLDERS For the last year I have sold these; they are increasingly dominating the market. These are the finest for your notes. PRICED AS FOLLOWS Size Inches 50 100 500 1000 Fractional 4-3/4 x 2-3/4 11.50 20.50 92.50 168.00 Colonial 5-112 x 3-3116 12.50 22.50 102.00 185.00 Sm. Curr 6-5/8 x 2-7/8 12.75 23.50 105.00 194.00 Lg. Curr 7-7/8 x 3-3/8 14.75 26.75 121.75 221.50 Checks 9-518 x 4-1/4 18.50 33.75 152.50 277.00 Shipping is included in the U.S.A. You may batch up your needs to get best price (25 minimum one-size). Samples one of each $2 (5 different size holders) plus 22c postage. ORDERING INSTRUCTIONS 1. Orders for currency under $250.00, $2.00 postage please. (CA (-2-/ 17* r \___.\<__, 7,1 /S4V )d-2. All items two week return in original holders, undamaged. 3. Mass. residents must include 51/4 sales tax. 4. Twenty-four hour answering machine when not in. Feel free to call and reserve your notes. OM= 5. Personal checks must clear, money orders and bank checks get fast service. 6. Second choices will be used only if first item is sold. Min. Order On Cards 7. We can offer a layaway plan on larger purchases. $50 Please DENLY'S OF BOSTON PHONE: (617) 482-8477 AM, Ur,. NARDP.O. BOX 1010-B BOSTON, MA 02205 Purveyors of National Bank Notes & U.S. Currency to the collecting fraternity for over 20 years: Our currency auctions were the first to use the Sealed Mail Bid System, which gives you, the bidder and ultimate buyer, the utmost chance to buy a note at a price you want to pay with no one looking over your shoulder. As a seller, this method gives you the opportunity to get the full market price without the "in" dealers short-circuiting the bidding, as so often is seen at public auction sales. Cis rata sato ww John HickmanDean Oakes in Wth 34 sales behind us, we look forward to a great 1988 for all currency hobbyists as well as our mail bid and floor auctions. We have had the pleasure of selling several great notes during the past year at prices for single notes above $30,000 with total sales of an auction in the $250,000 area. Currency collecting is alive and well. If you have currency, a single rarity, or an entire collection, now is the time to consign. Our sales will give you the pulse of the market. Currency collecting is alive and well. Our next auction is scheduled for June in Memphis. Our November auction will be held in St. Louis with the Pro- fessional Currency Dealers Assoc. convention. There will be hundreds of lots of U.S. and national currency. join others in experiencing the true market between buyer and seller at a Hickman-Oakes auction. Write, or call 319-338-1144 today! As a seller: Our commission rate is 15% and down to 5% (depending on value of the lot) with no lot charge, no photo charge, in fact no other charges. As a buyer: When bidding and winning lots in our auctions you are charged a 5% buyers fee. As a subscriber you receive at least 4 auction catalogs and prices realized after the sale, plus any price lists we put out, and all by 1st class mail. If you send us $8 now, we will send you the June Memphis convention auction catalogue and prices rea- lized plus our other auction catalogues and price lists through June of 1989. Send $8.00 now, you won't be sorry. Drawer 1456 Iowa Ctt2J, Iowa 5224 319- 338- 1144Z