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Table of Contents
THE GALMADY CHILDREN
VOL. XXVII No. 6
WHOLE NO. 138
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SOCIETY
OF
PAPER :MONEY
COLLECTORS,
INC.
Official Bimonthly Publication of
The Society of Paper Money Collectors, Inc.
Vol. XXVII No. 6 Whole No. 138 NOV. /DEC. 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. PAPER MONEY re-
serves the right reject any copy. Deadline for editorial copy is the
10th of the month preceding the month of publication (e.g., Feb.
10th for March/April issue, etc.). Camera ready advertising copy
will be accepted up to three weeks beyond this date.
IN THIS ISSUE
THE CALMADY CHILDREN
David Ray Arnold, Jr. 173
MONEY TALES
Forrest Daniel
175
PAPER COLUMN
SMALL NOTE MULES, NEW DATA FOR THE
FIFTY-YEAR RETROSPECTIVE
Peter Huntoon
176
A NEW SCRIP ISSUE DOCUMENTED FOR THE
SUTLERS OF FT. RILEY, KS
Steven Whitfield
179
JUDGE JOHN T. MORGAN
Rodney Battles
180
JOSEPH KELLER, ENGRAVER
Gene Hessler
182
PERCY HAMPTON JOHNSTON'S DAYS AS A
BACKWOODS BANK EXAMINER
Bob Cochran
188
SOCIETY FEATURES
INTEREST BEARING NOTES
192
NEW MEMBERS
192
MONEY MART
192
Inquiries concerning non -delivery of PAPER MONEY should
be sent to the secretary; for additional copies and back issues
contact book coordinator. Addresses are on the next page.
Paper Money Whole No. 138 Page 169
PAPER MONEY is published every
other month beginning in January by The
Society of Paper Money Collectors. Sec-
ond class postage paid at Dover, DE
19901. Postmaster send address changes
to: Bob Cochran, Secretary, P.O. Box
1085, Florissant, MO 63031.
© Society of Paper Money Collectors,
Inc., 1987. All rights reserved. Repro-
duction of any article, in whole or in part,
without express written permission, is
prohibited.
Annual Membership dues in SPMC are
$20; life membership is $300.
Individual copies of PAPER MONEY
are $2.50.
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SPACE
Outside
1 TIME 3 TIMES 6 TIMES
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To keep rates at a minimum, advertising must
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Rates are not commissionable. Proofs are not
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Mechanical Requirements: Full page 42 x 57
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picas. Halftones acceptable, but not mats or
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Advertising copy shall be restricted to paper
currency and allied numismatic material and
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SPMC does not guarantee advertisements but
accepts copy in good faith, reserving the right
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SPMC assumes no financial responsibility for
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Society of Paper Money Collectors
OFFICERS
PRESIDENT
Roger H. Durand, P.O. Box 186. Rehoboth, MA 02769
VICE-PRESIDENT
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APPOINTEES
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BOARD OF GOVERNORS
Richard J. Balbaton, Charles Colver, Michael Crabb, Thomas W.
Denly, Roger Durand, C. John Ferreri, Gene Hessler, Ronald
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Stephen Taylor. Frank Trask, John Wilson. Wendell Wolka.
The Society of Paper Money Collectors was organ-
ized in 1961 and incorporated in 1964 as a non-
profit organization under the laws of the District of
Columbia. It is affiliated with the American Numis-
matic Association. The annual meeting is held at
the Memphis IPMS in June.
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PUBLICATIONS FOR SALE TO MEMBERS
BOOKS FOR SALE: All cloth bound books are 8 1/2 x 11"
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
Write for Quantity Prices on the above books.
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copies of Paper Money.
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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 170
Paper Money Whole No. 138
Paper Money Whole No. 138
Page 171
UNPRECEDENTED!
The ULTIMATE United
States Obsolete Bank Note
Reference Is Here!
STANDARD CATALOG OF
UNITED STATES
OBSOLETE
BANK NOTES
1782-1866
By James A. Haxby
Four volumes,
81/2)(11, hardbound
r
Mail to: Krause Publications, Catalog Dept.
700 E. State St., Iola, WI 54990
Send me copies of the Standard Catalog of
World Paper Money, Vol. II, General Issues, at $45.00
each.
Yes! Send me sets of the all new Standard
Catalog of united States Obsolete Bank Notes, 1782-1866
at $195.00 per st.
Amount for books
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Shipping
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( ) Check or money order (to Krause Publications)
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Publications)
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Expires: Mo. Yr
Signature
(Obsolete Bank Note Book. U.S. addresses, postage
included. Foreign addresses add $18.00 for shipping. For
the World Paper Money book, U.S. addresses at $2.50 per
book: foreign addresses add $4.50. Payable in U.S. funds)
Credit card customers dial toll free
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You'll find over 2700 pages in four comprehensive,
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• Vast amounts of original research, including the most
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• The most complete list of state bank engravers (imprints)
ever assembled! One more way to attribute your notes.
• Prices for each note! For the first time you'll know exactly
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significantly with this vital market data!
• Every bank note documented to have been issued is listed.
More than 77,000 in all! Use this information to trace those
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• Each listing is accompanied by catalog number;
denominations of issue; engraver identifications; issue dates as
engraved or hand-written on the notes; overprint colors; and
where no photo is available, a detailed description. It's a
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Page 172
i •I I
Paper Money Whole No. 138
r'1717711011'
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11111e1
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WE ARE ALWAYS
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■ FRACTIONAL CURRENCY
■ ENCASED POSTAGE
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WRITE, CALL OR SHIP:
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Paper Money Whole No. 138 Page 173
74 eamadv &ea/tea
Eva 11,0te4
by DAVID RAY ARNOLD, JR.
T A TIME when Friedberg 237s were things to be
spent, it seems to me, in memory, that every coin
and stamp shop was in the worst part of town
and faced the afternoon sun. There were always a few
dusty certainties amid the incongruities of the hothouse
windows: a well-toasted stamp album, some unrecogniz-
able coppers, a packet of Chinese currency, and the ubi-
quitious Columbian Exposition ticket. But over there,
atop a pile of shabby Confederate and German inflation
paper, would be something sure to capture my gaze. It
was the epitome of "broken bank" currency, the $2 note
declaring itself to be that of the Allegany County Bank in
Cumberland, Maryland.
What boy could not feel akin to the idyllic central scene of
horse, dog, and lucky owner of both, pausing at a stream deep
in the woods? And the bank name, flung flamboyantly, with just
enough care to miss the vignette! The style was still in vogue and
perhaps a predilection for typography was stirring. I had no hes-
itation in exchanging the real thing for this non-money.
and factory express national pride in the past, and suggest pres-
ent prosperity. Allegorical characters bring to mind patriotic and
spiritual values. The halo is frequently undeserved.
But what greater treasure than children? They are the ultimate
asset. Portrayal of the young is a familiar source for bank note
art.
The first photograph-like image was made in 1826 with an
exposure time of eight hours. The daguerreotype was invented
in 1839, as was a kind of negative. Until these developments, a
painting of a family member was an especially important posses-
sion.
In England, Sir Thomas Lawrence (1769-1830) was the fore-
most portraitist of his time. He had been appointed Painter to
the King after Reynold's death in 1792. By 1820, and contin-
uing throughout the following ten years of his life, Sir Thomas
was at the summit of his fame. Once a student at the Royal Aca-
demy, he was now its president. The capabilities of this artist
were sweeping; he had early in his career painted the epic Satan
Summoning His Legions. If success is measured by praise, the
work fell short. Lawrence found his gifts best expressed in the
The engraving of the children, at lower right, reproduces the painting in its entirety — not always the case with bank note art.
However, on the Cumberland note and others, there is a
work of art far removed from a little fancy lettering. It is that ex-
quisite fragment of portraiture which brings us to this discussion.
Pictorial subjects on many bank notes simply provide orna-
mentation and traditional appearance. Unless of a pertinent
locale, person or building, the vignettes may have little to do
with the issuing institution. Engraving in itself does impart the
security of intaglio.
It is not surprising, then, that only in a broad, general way do
we find those things important to commerical, political and fami-
ly life pictured on notes. Historical figures and scenes of farm
portrait, and there success and praise became synonymous.
Those whom he painted were always pleased.
First on the waiting list for Sir Thomas' self-portrait was the
King.
Charles Biggs Calmady was the father of two young
daughters: Emily and Laura Anne. They were taken to Sir
Thomas, who had seen many richly dressed and well-groomed
children of the aristocracy. He was overcome by the uncommon
beauty and natural appeal of the little girls.
Lawrence's fees were high; he received as much as 1,500
guineas for a single work. However, because he was so im-
pressed by the children, he immediately offered to paint them
Page 174
Paper Money Whole No. 138
By permission, The Metropolitan Museum of Art. Bequest of Collis P. Huntington, 1925. All rights reserved.
for a price much less than he would have ordinarily charged.
Mr. Calmady accepted. There is doubt that he could have com-
missioned the portrait at the usual fee.
The picture was painted in 1823 and was hung at the 1824
exhibition by the Royal Academy. It was classified as a "group,"
with the official title The Children of Charles B. Calmady, Esq.
(As a term of art, a "group" may comprise as few as two.) The
work was the most popular in the exhibition. It should not be dif-
ficult to guess who quickly made known his wish to purchase it:
the King.
Other paintings of children were made by Lawrence in this
same period, among them Miss Murray, Master Lambton, and
Lady Templeton and Her Son. The famous Pinkie (Miss Sara
Moulton-Barrett), which had been painted 30 years earlier and
is now in the Henry E. Huntington Library and Art Gallery, has
undergone a recent surge in public interest. Sir Thomas, how-
ever, called the Calmady portrait his best picture, and one of the
few for which he wished to be remembered.
The popularity of the Calmady painting grew, and it was
widely reproduced. It became known as The Calmady
Children, but Smith adds "the charming group called `Nature.T
The latter term is used in a special artistic sense of an unspoiled
essence: not yet affected by surrounding influences, still in a na-
tural state. The thought for the beautiful rendering of the picture
is well expressed in the legend Metropolitan Children by Barbara
Burn. It concludes: "His [Lawrence's] brilliant style perfectly
captures the spontaneous, lively nature of his two appealing
subjects."
Other Lawrence portraits of children were in public favor.
Some, notably the Lambton, were sold as engravings, and the
Calmady was of course engraved for use on bank notes.
ULM VI%
mfrr fre'
iOMUPAT IONS,
Paper Money Whole No. 138
Page 175
An advertising note with the images of the children reversed. (Courtesy of Neil Shafer)
The painting lent itself easily to bank note use for a reason
other than eye appeal. It was on an almost square canvas, about
31" x 30"; the image, however, is circular with a well defined
arc. On the bank note version the edge has been made to ap-
pear uneven.
Muscalus named nine examples of notes with the portrait, but
gave no additional information except to mention the seldom
used title "Nature." A $2 note of the Pocasset Bank in Fall
River, Rhode Island is included in his list, but I have never seen
one with the Calmady picture. It is possible that there are other
designs of that denomination. It is equally possible that notes not
in his group made use of the vignette. At least one Hatch and
Company advertising issue did so. It is illustrated in the Bank
Note Reporter, June 1988, where it is seen that the image of the
children is wrong-reading (right and left are reversed). A photo -
graph of the $2 Pamet Bank note may be seen in the Bank Note
Reporter, December 1987.
Sir Thomas Lawrence died on January 7, 1830, and was
buried with honors in St. Paul's Cathedral. having attained im-
mortality as a great artist.
When their portrait appeared on bank notes, the Calmady
children were approaching middle age. Childhood had passed,
as did the sisters themselves. Laura Anne died first, in 1894.
Emily lived until 1906, just long enough to glimpse a new world.
Again the bank note—as much a creature of art as of com-
merce—has, in Tennyson's words, brought back the "tender
grace of a day that is dead." The anguished poet cried:
But Oh for the touch of a vanish'd hand,
And the sound of a voice that is still!
There can be neither touch nor sound, but Emily and Laura
Anne, forever children, are still smiling.
Bibliography
Bank Note Reporter. (December, 1987; June, 1988).
Burn, Barbara. (1984). Metropolitan Children. New York: Harry N.
Abrams.
With the prestige of the Metropolitan Museum of Art, a magnifi-
cent illustration of the Calmady painting is included.
Muscalus, John A. (1939). Famous Paintings Reproduced on Paper
Money of State Banks 1800-1866. Letterpress, halftone illustra-
tions, Bridgeport, Pennsylvania.
See the text for a comment about the Pocasset Bank note. The
group on the State of South Carolina $1 Revenue Bond Scrip of
1872 is sometimes confused with The Calmady Children.
New York Graphic Society. (1946 and 1965). Fine Art Reproductions
of Old and Modern Masters. Edited by Anton Schutz. New York:
New York Graphic Society.
A comprehensive illustrated catalog of art through the ages. The
Calmady work is in brilliant color.
Smith, George. (1921). Dictionary of National Biography. Edited by Sir
Leslie Stephen and Sir Sidney Lee. Oxford University Press.
Whitley, William T. (1973). Art in England. Vol. 2. New York: Hacker
Art Books.
submitted by FORREST DANIEL
U.S. SHY ON CHANGE
Associated Press to The Evening News.
Washington, Dec. 6. -The secretary of the treasury today issued
the following open letter to all banking institutions in the United
States. "A very marked scarcity of small bills is noticeable every-
where, and the treasury is powerless to relieve. In the absence of
legislation allowing national banks to issue a larger proportion of
their circulation in denominations of five dollars, the banks
themselves must be relied upon to alleviate the strain as far as
possible. There are in circulation nearly fifteen million dollars in
silver certificates of the denomination of ten dollars. Many of
these are doubtless packed away in the vaults of the various
banking institutions, and held as reserve. Permit me respectfully
to ask that each institution, state and national, search the money
in its vaults and send these ten dollar silver certificates to the
treasury. They will promptly be converted into ones and twos to
the very great relief of the country. It is the only remedy." — The
Weekly Times, Grand Forks, N. Dak., Dec. 7, 1906.
Continued on page 191
/1.1111-01.1111 FON C.C.TS,
NI. MO KIVU.. IS mum. r rig
""olir/Argigigliia "?."' G15417717 B
Only confirmed $5 FRN Series of
1934C mule with back plate 629.
Photo of this great rarity courtesy
of Marty Vink.
6454177178 . WWII OP 1134 0vtouprrofromn.c.
IL49101171& 2.1.41 111.11144.11k ille (1,„
VCILI.L.MISM"Iril■ 'WINE ■ V: RC • at a • • .,. 11. tqw v.
Paper Money Whole No. 138Page 176
SMALL NOTE MULES
NEW DATA FOR THE FIFTY-YEAR
RETROSPECTIVE
THE PAPER COLUMN
by Peter Huntoon
The first small note mule went to press on January 6,
1938, 50 years ago. The story of the ensuing mule varie-
ties was chronicled in detail in the January/ February,
1988, issue of PAPER MONEY. This article supplements
and expands the data and conclusions of that article with
newly discovered information from Bureau of Engraving
and Printing records found in the U.S. National Archives
in Washington, DC.
TWO MYSTERIES SOLVED
HERE IN NOTHING like a litte new data to wreck a good hy-
pothesis. Based on 1940 through 1942 serial numbers
found on $5 notes with micro back plates, I assumed in
past articles that the last of the $5 micro back plates survived un-
til about June 1942. The most conclusive evidence that I cited
for this was the existence of $5 Series of 1934 nonmules from
the first of the Hawaii printings. These have micro backs and
were delivered in June 1942.
James Lemon recently rediscovered a critical back plate
ledger that conclusively documents that the last regular $5 micro
back plate in use—plate 905—left the press on February 14,
1940, over two years before the Series of 1934 Hawaii's were
serial numbered!
So how did a $5 micro back end up on a Series of 1934
Hawaii? The answer is simple, and helps explain another im-
portant anomaly that has nagged this researcher for a number of
years. First an explanation of the anomaly, then the solution to
both issues.
Students of small-size notes have long recognized that early
backs were printed using a yellow-green ink that is very pleas-
ingly soft in appearance. This back plate ink was used exclusive-
ly into 1938. After that time, the darker blue-green inks made
their appearance. However, some yellow-green backs contin-
ued to appear until at least mid-1942. As a good example, the
mysterious $5 Series of 1934 micro back Hawaii's sport yellow-
green backs.
The solution to both problems is the fact that the Bureau of
Engraving and Printing stockpiled a large quantity of $5 backs
sometime around 1937. These were printed from micro plates
and utilized the yellow-green ink. Sheets withdrawn from this
store account for all the $5 micro back varieties produced after
February 1940, except those from plates 629 and 637. Use of
the old backs nicely explains the lingering appearance of the old
style yellow-green backs that we occasionally see on post-1938
$5 notes. The full dimensions of this discovery have not been
Paper Money Whole No. 138
fully explored, particularly as: (1) it impacts the rarities of $5
micro back mules of 1940-2 vintage, and (2) it opens the door
for possible stockpiling in other denominations.
The evidence for long term stockpiling of small note backs has
not been particularly strong until this discovery. We do know
that stockpiling was practiced on a large scale with all denomina-
tions of the Series of 1929 national bank notes. In this special
series, the sheets were completed through both the uniform
back and face printings, and stored for future overprinting of
bank titles, charter and serial numbers, and seals. In fact, incom-
plete Series of 1929 stocks were so vast that they were tapped
for quick use in preparing the emergency Series of 1929 Federal
Reserve Bank note issuances in 1933. However, widespread
stockpiling of other small note printings generally has not been
widely recognized. In most cases, lags between various back and
face printings appear to be on the order of days to a few weeks
indicating that throughout production management prevailed as
a general rule.
James Lemon has begun the tedious job of comparing the
timing of printings of mated backs, faces, and serial numbers on
$5 silver certificates, and has documented one note from the $5
Series of 1934 AA block, which has a back that was printed at
least five years earlier. He is finding that two-year old $5 backs
are rather common on the earlier small note issues. Perhaps we
will find stockpiling more common than originally supposed as
we explore other denominations. It won't make much difference
except in cases where micro and yellow-green backs were unex-
pectedly teleported to later face printings to create odd species.
Micro back 1940-2 vintage $5 mules are a dramatic case at
point.
My Series of 1934 micro back $5 Hawaii, L12748235A,
bears back plate number 782. This plate was in use between
February 5, 1936, and August 17, 1937. Clearly the back had
been stored for at least five years before it was mated with its
Hawaii face. It was printed with yellow-green ink, which had
been phased out sometime in 1938. The back of this odd note
carried both an obsolete micro plate number and obsolete ink
five years or more to a future face printing.
When you use the graphs on pages 8 and 9 of PAPER
MONEY, Whole Number 133, realize that the last use of the old
$5 micro backs ceased on February 14, 1940. All the mules from
the old $5 micro plates dating between February 14, 1940 and
mid-1942 were produced from the stockpiled backs. Obviously
the graphs are still useful; only the explanations are modified.
COMPLETE 629 and 637 DATA
The ledger located by James Lemon allows us to finally publish
a complete record of the use of $5 micro back plates 629 and
637. Those data are presented here in their entirety as Table 1.
Notice how plate 637 saw almost continuous service during its
long and extraordinary life. You can now see first hand how its
impressions produced such a steady stream of exotic $5 mules
spanning so many series.
FIRST MACRO -LAST MICRO USAGES
Tables 2, 3 and 4 update and correct data included in tables
previously published on the first uses of macro plates, and the
last uses of micro plates. These data should be of great interest
to students of mules. Notice from these tables that macro size
plate numbers were conceived in 1937, but plates bearing them
were not completed until 1938. The first to go into production
were $1 silver certificate series of 1935A face plates beginning
with plate 1 on January 6, 1938.
Table 1.
Plate 629
Begun:
Finished:
Page 177
Complete plate records for $5 micro plates 629 and 637.
Dec 6, 1933
Dec 29, 1933
Press Run Reentereda Certified
Nov 17, 1947 - Feb 2, 1948 Feb 3, 1948
Cancelled: Feb 17, 1948
Plate 637
Begun: Jan 24, 1935
Finished: Nov 10, 1944
Press Runs Reentered Certified
Jun 23, 1945 - Sep 24, 1945 Sep 25, 1945 Nov 28, 1945
Nov 30, 1945 - Jan 23, 1946
Feb
8, 1946 - Mar 7, 1946
Mar 12, 1946 - Jun I I, 1946
Jun 17, 1946 - Jul 22, 1946 Jul 23, 1946 Aug 19, 1946
Aug 23, 1946 - Oct 17, 1946
Oct 21, 1946 - Nov I, 1946 Nov 4, 1946 Nov 20, 1946
Nov 26, 1946 - Feb 13, 1947 Feb 14, 1947 Feb 27, 1947
Feb 28, 1947 - Jul 17, 1947 Jul 18, 1947 Aug 4, 1947
Aug 19, 1947 - Nov 12, 1947
Feb 13, 1948 - Sep 24, 1948 Sep 27, 1948 Oct 7, 1948
Oct 19, 1948 - Mar 8, 1949 Mar 9, 1949 Apr 5, 1949
Apr
8, 1949 - Jun 15, 1949
Cancelled: Jun 16, 1949
a Reentered means the design is repressed into the plate from a roll to sharpen details
that show wear.
YELLOW-GREEN SEALS and THE FIRST
$5 FRN 1934A FACES
No $5 Federal Reserve note Series of 1934 mules have ever
been reported bearing the distinctive vivid yellow-green seals
found on early Series of 1934 nonmules. However, Series of
1934A $10 mules and nonmules, and Series of 1934A $20
mules are known with yellow-green seals.
A paradox arises. The first $5 macro back plate is now known
from Table 2 to have gone to press on March 16, 1938. Logic
would dictate that the yellow-green seals were phased out
before this date because no $5 FRN Series of 1934 mules bear a
yellow-green seal.
However, the first $10 Series of 1934A FRN face plate went
to press on May 24, 1938, for New York. The first $20 Series of
1934A face plate - a Chicago-went to press August 1, 1938.
See PAPER MONEY, Whole Number 133. page 6, Table 3.
Early notes from these plates have yellow-green seals.
Clearly the last of the yellow-green seals were being printed at
least as late as August, 1938. Why no $5 1934 yellow-green
seal mules? I have no ready answer backed by hard data. It
seems improbable that all of the early $5 macro backs just hap-
pened to be fed to silver certificate and/or legal tender produc-
tion. Likewise, it appears too convenient to assume that all early
$5 macro backs got tied up in stockpiles during the March to
August 1938, period, thereby missing their opportunity to be
mated with the last of the yellow-green seals.
1928B - 1928C $5 LT TRANSITION
As a general rule, the changeover numbering between the micro
and macro plates was abrupt, with the macro numbers continu-
ing in sequence from the micros. Only the $1 silver certificate
macro faces and backs reverted to 1. One interesting exception-
to this rule involves the $5 legal tender notes. Table 5 shows that
there was some interspersing of the 1928B and 1928C plates.
Note the peculiar order in which these plates were completed.
Those finished early in 1938 were macro Cs whereas those
completed between October 10 and November 2, 1938 were
micro Bs.
Page 178 Paper Money Whole No. 138
Table 2. Record of the last micro and first macro back plates.
Last Micro Plates First Macro Plates
Dennis-
ination
Backs
Plate
Number
Date Begun Date
Finished
Last Plate
Used
Last Date
Used
Plate
Number
Date Begun Date
Finished
First Plate
Used
First Date
Used
1 929 Oct 25, 1937 Nov 5, 1937 916 Feb 8, 1940 930 Oct 26, 19 37 Jan 6, 19 38 930 Jan 28, 1938
2 288 Feb 26, 1937 Mar 17, 19 37 275 Aug 12, 194 2 289 Jan 26, 19 38 Feb 7, 19 38 289 Aug 22, 19 39
5 938 Sep 13, 1937 Sep 24, 19 37 905 Feb 14, 1940 939 Dec 7, 19 37 Jan 13, 19 38 939 Mar 16, 19 38
10 584 Jul 22, 1937 Aug 4, 19 37 404 Oct 14, 194 1 585 Jan 10, 1938 Jan 25, 1938 585 Feb 17, 19 38
20 317 Sep 13, 1937 Sep 29, 19 37 316 Oct 27, 1942 318 Jan 14, 1938 Jan 26, 1938 318 Feb 7, 1941
50 162 Sep 22, 1936 Oct 29, 1936 139 Jul 16, 1953 163 records not found
100 112 Aug 10, 1936 Sep 14, 19 36 75 Jul 8, 1953 113 Jun 22, 1944 Jun 29, 1944 113 Jul , 1944
500 12 Nov 15, 1932 Dec 29, 1932 4 Jun 27, 194 5 records not found
1000 4 Oct 29, 1930 Nov 24, 19 30 4 Jun 29, 194 3 5 Sep 14, 1939 Sep 29, 1939 5 Nov 8, 1940
5000 1 Oct 29, 1930 Nov 15, 19 30 I Nov 18, 1940 2 May 10, 1943 Jun 2, 1943 no record of use
10000 I Jul 11, 1929 Jul 23, 1929 1 Nov 18, 1940 2 May 10, 194 3 May 31, 1943 no record of use
Table 3. Record of the last micro and first macro face plates for Silver Certificates and Legal Tender Notes.
Last Micro Plates First Macro Plates
Denom- Series Plate Date Begun
Date Last Plate Last Date
Series Plate Date Begun Date First Plate First Date
ination Number Finished Used Used Number Finished
Used Used
Silver Certificate Faces
1 19 35 1391 Dec 27, 19 37 Jan 6, 1938 1375 Aug 31, 1938 1935A 1 Oct 22, 19 37 Jan 6, 1938 1 Jan 6, 19 38
5 19 34 561 Oct 4, 19 37 Oct 18, 19 37
444 Sep 16, 1938 1934A 562 Nov 1, 19 37 Jan 7, 19 38 562 Jan 10, 19 38
10 19 34 127 Mar 16, 19 38 Mar 28, 1938 126 Aug 3, 1942 1934A
129 Feb 7, 19 39 Feb 21, 19 39 129 Dec 5, 19 39
(no 19 34 $10's printed in period Oct 10, 1940 through Jun 30, 1942)
20 19 34 17 Sep 21, 19 34 Oct 3, 1934 none used 1934A 18 Jan 13, 19 38 Sep 14, 1942 none used
100 1934 4 Oct 10, 19 34 Oct 31, 19 34
none used
Legal Tender Faces
2 1928C 181 Aug 31, 19 37 Sep 10, 19 37
180 Feb 12, 1940 1928D 182 Nov 24, 19 37 Feb 23, 19 38 182 Mar 13, 19 39
5 I9280, 306 Dec 6, 1937 Sep 12, 1938
304 Dec 1, 1939 1928C 288 Nov 16, 19 37 Feb 17, 19 38 288 Aug 2, 19 38
Table 4. Record of the last use of micro and first use of macro
Table 5. Interspersing of $5 Legal Tender Series of 1928B and 1928C plates.
$5 Federal Reserve faces. All except 308 were used.
Plate Number 1928 Series Plate Begun Plate Finished
287 B Sep 29, 1937 Oct 12, 1937
288 C Nov 16, 1937 Feb 17, 1938
289 B Nov 16, 1937 Oct 12, 1938
290 B Nov 18, 1937 Oct 10, 1938
291 B Nov 18, 1937 Oct 27, 1938
292 B Nov 22, 1937 Oct 24, 1938
293 B Nov 24, 1937 Oct 25, 1938
294 B Nov 24, 1937 Oct 21, 1938
295 B Nov 24, 1937 Oct 27, 1938
296 B Nov 29, 1937 Oct 21, 1938
297 B Nov 29, 1937 Oct 21, 1938
298 B Nov 30, 1937 Oct 24, 1938
299 B Nov 30, 1937 Nov 1, 1938
300 B Dec 1, 1937 Nov 1, 1938
301 B Dec 1, 1937 Nov 2, 1938
302 B Dec 2, 1937 Nov I, 1938
303 B Dec 2, 1937 Nov 2, 1938
304 B Dec 3, 1937 Nov 2, 1938
305
C Dec 3, 1937 Nov 4, 1938
306 B Dec 6, 1937
Sep 12, 1938
307 C Dec 6, 1937 Feb 17, 1938
308 B Jan 7, 1938 not finished
309 C Feb 10, 1938 Feb 23, 1938
310 C Feb 10, 1938 Feb 23, 1938
311 C Feb 10, 1938 Feb 24, 1938
312 C Feb 10, 1938 Feb 24, 1938
District
Micro Series of 19 34 Macro Series of I934A
Last Use
First Use
A Jul 23, 1945
Sep 6, 1943
B Nov 16, 1945
Jul 31, 1941
C Jan 22, 1946 Jul 27, 194 3
D Jan 9, 1946
Sep 18, 1942
Jan 23, 1946
Sep 29, 1942
F Nov 23, 1945
Oct 6, 1942
G Jan 28, 1944
Oct 26, 1942
H Oct 23, 1945
Jun 24, 1944
1 Sep 7, 1944 none
Sep 24, 194 5 none
K Apr 30, 1945 none
L Dec 18, 1943
Sep 22, 1943
(Continued on page 191)
Paper Money Whole No. 138 Page 179
A NewCcrip Issue Documented
For The sutlers of Ft. Riley, KS
by STEVEN WHITFIELD
I
N 1852 an Army Officer at Fort Leavenworth recom-
mended establishment of a new post further west
along the Kansas River for better protection of the
western trails. After various surveys, the site for the new
post, to be called Camp Center because it was thought to
be at or near the geographical center of the United States,
was chosen where the Republican and Smoky Hill rivers
joined to form the Kansas River.
The Army Appropriation Act of 1853 contained
$65,000 for construction of Camp Center; on May 17,
1853 the post was officially established under Order
Number 9, HQs, Sixth Military Department, Jefferson
Barracks, Missouri. The first temporary buildings were
erected during 1853 and 1854; permanent building con-
struction began in 1855. The Post was renamed Fort
Riley to honor Major General Bennett Riley who had
died on June 9, 1853.
The first sutler of the post was Robert Wilson who arrived in
1853. Mr. Wilson began his career as a military storekeeper in
1814 and served in that capacity until 1821. He was the sutler at
Fort Leavenworth from 1833 to 1842 and at Council Bluffs,
Iowa in 1844. He established the first Post Office in the area in
1853 at Fort Riley. In 1857, Wilson was a charter member and
treasurer of the Town Company that established Junction City.
By November of 1861, he was advertising in the Junction City
paper as the "Oldest Established Trading Depot in Western Kan-
sas." His store at the Fort competed with Junction City and
Manhattan firms to outfit the settlers, traders and hunters travel-
ing west. At the same time, small change was gradually disap-
pearing from circulation and the new U.S. government demand
notes, in $5 and $10 denominations were showing up in the
area. By February 1862 hard times had reached Fort Riley and
Junction City and many creditors were not paying their debts.
The store of Moses Waters, sutler, constructed in 1888. As seen here in 1895, it was
used as a canteen. This building, the last sutler store at Fort Riley, is still in use.
Courtesy Idaho Historical Society
Page 180
The Smoky Hill and Republican Union Newspaper of Junc-
tion City carried the following piece dated March 20, 1862:
"Shinplasters. Colonel Wilson, sutler at Fort Riley, has in circu-
lation one dollar notes, redeemable in current funds when pre-
sented in sums of five dollars. The scarcity of change makes
them quite a convenience."
On June 27, 1863 "Colonel" Wilson retired from the sutler-
ship at Fort Riley and was succeeded by Henry F. Mayer. (In
later years Wilson became superintendent of the Davis County
Poor Farm.) Mayer stayed on until May 12, 1866 when he sold
out to the Junction City firm of John T. Price. In February 1868
the firm of Streeter and Strickler from Junction City bought out
Price's interest and ran the store on the post. Streeter and Strick-
ler had also issued scrip during the Civil War from their business
location on Washington Street in Junction City. In 1868 Street-
er and Strickler sold the post sutlership and store to the
McGonigle Brothers who added a wing to the building for an of-
ficers' billiard room, reserving the old billiard room for enlisted
men. In late 1874 or early 1875 Moses Waters became sutler at
Fort Riley when he bought out the McGonigle Brothers.
Waters had come to America from Ireland at the age of 15.
He had been a railroad section boss, buffalo hunter and army
scout, and in 1868 he participated with Colonel George A. For-
syth at the famous Indian battle on the Arickaree Fork of the Re-
publican River where it is believed Chief Roman Nose was
killed. He had also spent time at Dodge City before he settled at
Fort Riley.
Upon assuming ownership of the Fort Riley store he took
over as postmaster, which was apparently the duty of the sutler,
and ran a successful operation. In 1888 he constructed a new
store at Fort Riley at a cost of $11,500. The building, which still
stands, was constructed of native limestone and contained a
large general store. an enlisted men's bar, a dining room for offi-
cers and enlisted men and an officer's club upstairs with pool
and billiard tables and another bar.
Paper Money Whole No. 138
On June 25th, 1889, less than a year after the new building
had opened, Moses Waters died. His widow carried on the busi-
ness for a short while but sold the building to the U.S. govern-
ment in 1889 for $5,000. Soon thereafter the Army abolished
sutler stores and the building became a "canteen."
The canteen system was established to channel profits from
the sale of beer and light wines into reading rooms and amuse-
ment areas for the soldiers. By April 1890 the entire building
was being utilized for this purpose. In 1897 the canteen became
the first "Post Exchange," or PX, at Fort Riley.
During the 1930s, the building was converted to its current
use as housing. The housing conversion also changed the exter-
ior appearance of the building by removing the porch and alter-
ing the entrance area. The building is appropriately named
Waters Hall and has a sign delineating its history for the many
tourists who visit the Fort. It is a daily reminder to this collector
of the period when Post Sutlers issued their own paper money
to make change for the soldiers and other customers during the
Civil War.
NOTE: To the best of my knowledge, there is only one gen-
uine piece of Kansas Sutler Scrip known. This is a 254 note is-
sued in 1863 by Harvey Spaulding, sutler of the First Kansas
Colored Volunteer Infantry Regiment.
REFERENCES:
Photographic collection of the Cavalry Museum. Fort Riley, KS.
Pride, W.F. (1926). The History of Fort Riley. Reprinted by the Fort
Riley Historical and Archeological Society in 1987.
Real Property records of the Directorate of Engineering and Housing.
Fort Riley, KS.
Smokey Hill and Republican Union Newspaper. (1861, September to
1863, June). Junction City, KS.
Judge
John T. Morgan
by RODNEY BATTLES
01987. All rights reserved.
The author, a collector of western checks, has researched and writ-
ten several articles pertaining to check collecting, western banks
and bankers. For a list of current titles, please write to: Rodney Bat-
tles, P.O. Box 210004, Bedford, TX 76021.
J OHN T. MORGAN
was born in Hamburg, Erie County, New
York. His father, James Clark Morgan, was born in Con-
necticut in 1798, and married Penelope Green, a native
of Herkimer County, New York.
In 1843 John, the third of three children, accompanied his
parents to Illinois, which was then a largely undeveloped state,
with Chicago little more than a village on a wet prairie. He was
reared on a farm, attended the public schools of Monmouth,
and then taught school in order to continue his own education.
Paper Money Whole No. 138
Page 181
1883 territorial draft from J. T. Morgan's BANK OF IDAHO in Blackfoot, Idaho with attractive in-
digenous uignettes of miners at left and a cowboy roping a steer at upper right.
1884 draft from J. T. Morgan's BANK OF KETCHUM.
In 1852 he entered Lombard University, at Galesburg, Illi-
nois, and graduated in 1855. He took up the study of law in the
office of General E.A. Paine, later a prominent brigadier general
in the Union Army, and remained in that office for three years.
He then entered the law department of Albany University, New
York, and later continued his studies in the State Law School at
Poughkeepsie, New York, where he graduated in 1859 with the
degree of Bachelor of Law.
In 1859 he began the practice of his profession at Monmouth,
Illinois, and soon secured a large and distinctively representative
clientele. In November 1858, John married Miss Maria Hor-
roun, of Pennsylvania.
During the Civil War, as time passed and the conflict became
more bitter, he felt that the country needed his services. On the
11th of August 1862, he enlisted in Company F, the Eighty-
third Illinois Volunteer Infantry.
John served as a captain until the close of the war; he re-
ceived an honorable discharge on the 26th of June 1865. After
returning home he resumed the practice of law in Monmouth. In
1870 he was elected to the Illinois house of representatives,
where he served for two years. In 1874 he was elected to the
state senate; he served in that capacity until 1878.
On the 26th of June 1879, President Hayes appointed Mor-
gan as chief justice of the supreme court of Idaho. In addition to
presiding over that court of last resort he also served as ex-officio
judge of the district court, which included all of southeastern
Idaho, including the counties of Oneida, Cassia, Custer and
Lemhi. Following his arrival in the Idaho Territory in 1879,
Judge John T. Morgan was regarded as one of the most worthy
and prominent men of the territory. He was reappointed chief
justice of the supreme court of Idaho by President Arthur, and
satisfactorily filled that position until he was removed by Presi-
dent Cleveland in 1885.
While serving as chief justice, Judge Morgan was involved in
early Idaho banking. In 1881, he and a partner, Lowell Hol-
brook, entered the banking business in Blackfoot, Idaho under
the firm name of J.T. Morgan & Co. In 1882 the name was
changed to the Bank of Idaho. The bank closed in 1886.
In 1884 J.T. Morgan's Bank of Ketchum was the third bank
opened during the mining boom. Ketchum's original bank was
operated by T.E. Clohecy and Co., which opened in 1883.
Merchants Isaac T. Lewis and Joseph Pinkham opened their
First National Bank in February 1884. The Bank of Ketchum
was succeeded by the First National Bank in 1888.
When Idaho's admission to the Union was considered, Judge
Morgan earnestly favored the project. He was elected a member
of the convention which assembled to frame a state constitution
and chaired the convention's legislative committee. In October
1890, he was elected one of the justices of the supreme court of
Idaho, and ably served on the bench for six years, until March 4,
1897, when he resumed his law practice.
Bibliography
An Illustrated History of The State of Idaho. The Lewis Publishing
Company. Chicago. 1899.
Paper Money Whole No. 138
Page 182
JOSEPH KELLER
ENGRAVER
by GENE HESSLER
. . . who would have expected the son of a shoe-
maker; the youngest of six children of a poor, Ger-
man, immigrant family; a young man whose formal
education ended with the 8th grade" . . . would
make "a difference to all" . . . who knew him?
(Eulogy: Eilene Bertsch, daughter of Joseph Keller)
"I behold his eyes caressing those whom he loved —
as with a touch — as if with each glance he framed a
`still-shot' that was permanently etched in his mem-
ory." (Eulogy)
James Whistler, Paul Gauguin and Camile Pissarro died in
1903; in that same year, on 19 May, artist-to-be Joseph Keller
was born in the Bronx, New York. Following graduation from
Immaculate Conception grammar school in 1918 he immedi-
ately went to work at American Bank Note Co (ABNCo) as a
burnisher (plate cleaner). "In those days, a high school diploma
was not required to get a job and the $10 salary I got was badly
needed." In 1918 it was customary to accept any type of em-
ployment in a particular company and hope for advancement to
the position you ultimately wanted.
A 1949 self-portrait.
J
OSEPH KELLER is this man, a man who made the world a
better place because of his existence and his contribu-
tions—artistic and humane.
Without knowing of the delicate state of his health, I began
corresponding with Mr. Keller in January 1987. After six
months of exchanging letters I decided that I wanted to meet this
warm, interesting and humorous man. Due to an encounter
with pneumonia, on my part, it was necessary to cancel a
scheduled September meeting. In November my only meeting
with this kind and gentle man took place. One month later, on
14 December 1987, Joseph Keller died at the age of 84. It was
truly my good fortune to have known him.
At age 14, Joseph Keller made this drawing; it was based on a
magazine illustration.
Drawings that the youthful Joseph Keller submitted when he
applied for the job at ABNCo went into a file. Five years later
they were shown to legendary Robert Savage, head of the Pic-
ture Engraving Department at ABNCo. Five minutes later the
aspiring engraver was told he would begin his apprenticeship as
an engraver the following morning. "The drawings that got me
the job were done at Morris High School in the Bronx. The
teacher's name was Wilks. I loved his way of teaching. The stu-
dents took turns posing for the class. Occasionally we chipped in
and hired a model. We were all poor kids. If there wasn't
enough cash in the box, Mr. Wilks took care of the rest."
Paper Money Whole No. 138
These same drawings were submitted when Joseph Keller ap-
plied for study at the National Academy of Design about 1919.
About three years were spent in the academy that had also
served as the training ground for engravers Asher B. Durand,
Alfred Jones, Joseph I. Pease, John F. Prud'homme, Mosley I.
Danforth and Peter Maverick, Jr.; the latter two were also
founders of the National Academy of Design. We all have our
personal heroes; these and other engravers were probably the
artists_ emulated by Joseph Keller.
In the early 1920s, "ABNCo engaged Mr. George Bridge-
man, a man from the Art Students League [who also instructed
Norman Rockwell] .... I spent 5 years with him. He was one of
America's greatest anatomists." Bridgeman compiled a book,
Fifty Figure Drawings, " . . .to show by definite examples the
best work produced by students of the leading Art Schools" in
the United States. One of Mr. Keller's drawing was selected for
this publication.
During my visit with Mr. Keller he brought out some of his
early sketches including a self-portrait. At the bottom of each
was a numeral, i.e., 18, 25, 32, etc. These, he said, were the
number of seconds allowed to make the particular sketch.
Walter Major, brother of engraver James Parsons Major, was
a vice-president at ABNCo and headed the Design Department
in the mid-1920s. A photograph of his surburban home was the
subject of a practice engraving by Joseph Keller. This apprentice
engraving was executed in 1927 with less than five years exper-
ience; it demonstrates greatness and the promise of the young
artist. The detail of the engraving of the home of Walter Major
undoubtedly alerted supervisor Edwin Gunn, another superior
engraver, to the potential of Joseph Keller as an engraver cap-
able of executing all types of work, especially postage stamps.
Joseph Keller eventually engraved bank notes for Brazil,
French Indochina, Guatemala and Venezuela as well as a con-
siderable number of vignettes for stock certificates, but his stamp
engravings outnumber both.
One stamp that Mr. Keller took particular pride in engraving
was the 5 gourdes of Haiti (Scott A61). The repetitive grill, or
lattice work, around the figures appears to have been machine-
engraved—it is, remarkably, all engraved by hand.
Joseph Keller and daughter
Eilene ca. 1940.
Page 183
One particular bank note called for monotonous repetition—
the back of the French Indochina 50 piastres (Pick 77). It's un-
fortunate that the figures could not have been reproduced me-
chanically; each was individually engraved. Mr. Keller called it
"a heart-breaking, tough piece that showed nothing." William
Adolph, a senior engraver who Mr. Keller admired, studied the
subject and said "what a waste of time and talent . . .."
In my correspondence with Mr. Keller he mentions the en-
gravers he worked with; with fw exceptions all received words
of admiration and praise. Edwin Gunn, Warrell Hauck, Elie
Loizeaux, Harold Osborn, Robert Savage and Arthur Vogel are
just some who could be described here, but, this is Mr. Keller's
story. Notwithstanding, there is one brief incident, related in a
letter, that demonstrates his lasting sense of humor.
Writing about Harold Osborn, Mr. Keller related the follow-
ing: "He told us of the time he went to a movie about gorillas.
The place was crowded. The woman in front of him had a little
boy who was constantly asking questions. Finally Harold
touched the woman on the shoulder and told her he hadn't
come to the theatre to hear her boy, would she try to keep him
quiet. In a loud voice she said to the boy, 'Did you hear that?
The man in back wants to hear what the monkies have to say."'
Yes, Joseph Keller was known as a story-teller. There were
many in his letters and I heard a few during our meeting.
"I know him as the master story teller—such a won-
derful sense of humor! with a delicate, gentle, intui-
tive understanding of what makes us human. How
many of us have been at a gathering with him, with
family, friends, neighbors, golfers, artists? Inevit-
ably, someone said, 'Joe, tell a story!"' (Eulogy)
It is not uncommon for artists to have favorites among their
creations. One of Mr. Keller's was his engraving of a shoemaker.
This engraving, for the Melville Shoe Corporation, was done
with his father in mind. The senior Mr. Keller came to the United
States about 1875 from Germany. "When he was about 12
years old the village he lived in needed a shoemaker, so he was
sent to another village" to learn the craft. "He was a shoemaker
but not an ordinary repairman; he was able to make complete
shoes by hand . .." Referring to the shoemaker vignette Mr.
Keller said, "It might have been a picture of my father."
Joseph Keller, daughter Eilene and wife Diane.
•Page 184
Paper Money Whole No. 138
CIWUuity 'fit* A iE ,
6
irelthrrkv \\\
6 6666 6
V
6 6
Paper Money Whole No. 138 Page 185
i *.:. ' :-.) --.InnitiPii-: ...:..., stt it1.14/7.11 14..1tra t, , .• . , - - ' , , '. , . , .........: ,
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Page 186
Philipp Kell,er l,
BOOTS'
Made to
Repairing done
A damaged, but treasured, advertising card for the father of Joseph
Keller.
Paper Money Whole No. 138
Another vignette of which the engraver spoke fondly, and
justifiably proudly, is Agriculture No. 5. He did the etching work
and Sidney Smith began the engraving. Then, due to the death
of Mr. Smith, the young Joseph Keller completed the engrav-
ing. This magnificent example of the engraver's art was never
used; it was probably intended for a stock certificate. "Mr.
Smith," said Mr. Keller, "was one of the most intelligent people I
ever met."
Joseph Keller was one of the most sensitive, kind and gener-
ous human beings I have ever met. From our correspondence
and one-time meeting, he sensed my sincere interest in the his-
tory of the security engraving and specifically in his work. He
gave me one of four examples that he had of Agriculture No. 5.
I will treasure it along with the bittersweet memory of a man
who, during his professional career, created engravings that re-
main for all of us to enjoy and appreciate.
"I recall vividly the many hours (into the last weeks of
his life) that we spent discussing his 50 years as a pic-
ture engraver with the American Bank Note Company.
He took such pride in his work: in the beauty of en-
graving as an art form; in the special gifts of the great
masters who preceded him and in whose company he
wished to be remembered: Mr. Jones, Mr. Savage, Mr.
Loizeaux, Mr. Gunn." (Eulogy)
At retirement in 1970 Joseph Keller was the senior engraver at
ABNCo. He is a vital link in the security engraving tradition that
can be traced from Peter Maverick, who taught John W. Casilear,
who guided Louis Delnoce through his apprenticeship, who in-
structed Marcus W. Baldwin, who was the first to employ Robert
Savage, who ultimately recognized the artistic talent of Joseph
Keller.
Tradition, not just for the sake of it, but tradition that keeps alive
those developed talents, if lost—just as the loss of an endangered
species weakens the ecosystem—can reduce the potential contri-
bution of mankind. Within the tradition of security engraving
there is an honored position that is held by Joseph Keller.
Female, untitled (figure by E. Loizeaux) (I)
Female for TYCO Laboratories stock certificate (I)
Female in helmet for St. Paul Union Depot Bond (1941) (I)
Grand Canyon (Indian at left) for Arizona Public Service Co.
Home of Walter Major (I)
Indian Chief facing right, untitled (1962) (I)
Kin Tze Prov. Shansi""
Kuangyuanhein-Wu Hou Tze"" (I)
Locomotive (stamp-size) for W. Jersey & Seashore Railroad
bond
Marble Gate at Chu Yung Kuan * "
New York Stock Exchange"
Santa Fe"
Scotsman with bagpipes (entirely etched)
Shoemaker for Melville Shoe Corp. (I)
Swift Company (view of plant)
Telephone and map of four states for Northwestern Bell Tele-
phone Co. (1949)
The Alamo for Southwestern Bell Telephone Co. (I)
Tower and Sound Waves for AT&T
Trinity Church (ABNCo Archive Series, Vol. II) (I)
Wealth (finished by Joseph Keller due to death of engraver
R. Savage)* (I)
Women with Globe (1964, used with different backgrounds)
Wuchoufu Prou. Kuangsi"
(I) Illustrated
• Story of American Bank Note Co.
* * No record that this was used
Sources
Correspondence from Joseph Keller to the author.
Cummings. W.W. (Ed.). (1988). Standard postage stamp catalog.
Pick A. (1986). Standard catalog of world paper money. 2 Vols., Iola,
WI: Krause.
Paper Money Whole No. 138
Stamps Engraved by Joseph Keller
Canada A 79
A 95
A111
A 132
A141
Columbia AP19 (C122)
AP39
A 155
Costa Rica A109 (C127)
AP15
Ecuador AP 9
AP30
A171
A186 (C479 & 480)
Haiti AP20 (C60)
A 61
Hondoras AP 6 (C80)
AP27
AP64
A 51 (C330)
Nicaragua AP14 (C236)
AP20 (C248)
Panama AP 9 (C23)
A 67 (C282)
A 99 (similar)
Paraguay AP35
Philippines A 79
Surinam A 29 (C189 & 190)
Stamp-size advertising piece.
Bank Notes Engraved by Joseph Keller
Pick
Brazil 132 & 150 (back)
133 & 151 (back)
134 & 158 (back) (I)
174 (back)
Dominican
Rep. 25 (face)
French
Indochina 77 (back) (I)
Guatemala 96 (back)
Venezuela 49 (face) Founding of Caracas (I)
S189 (face) female
etched by J. Keller,
engraved by W. Adolph
Page 187
Some Additional Engravings by Joseph Keller
ABNCo Building for letterhead (I)
Agriculture*
Agriculture No. 5 (I)
Chinese Gateway' * (1931)
Eagle for Coors stock certificate (1965)
Federal Hall (ABNCo Archive Series, Vol. II)
Page 188
Paper Money Whole No. 138
Percy Hampton Johnston's
Days As A
Backwoods
Bank Examiner
Submitted by
BOB COCHRAN
Collectors of paper money, checks, stocks, bonds, scrip, etc.,
who make up our membership, are mostly concerned with
these tangible issuances of banks and other organizations. John
Hickman describes them as "History in Your Hand," and I
couldn't agree more. This magazine is the medium where infor-
mation is shared about these financial documents, the organiza-
tions behind them, and the circumstances of their issuance.
Banking and finance is also a people business, and I believe sto-
ries about the people involved in banking deserve to be discussed
here as well. These stories are not concerned specifically with
paper money, but they do provide us with an insight into the
banking business, and the bankers themselves, many years ago.
A casual glance at the 1902 Series, Third Charter Date Back
note, issued by the Chemical National Bank of New York,
shows the printed signature of Percy H. Johnson as president of
the bank. The name "Percy" is not a popular name today; to
some it connotes "blueblood," or "upper class." You might
think that Percy H. Johnson, president of a large national bank
in New York City, was "born with a silver spoon in his mouth,"
sent to the "right" schools, and groomed for the position he oc-
cupied when his signature was printed on this note — you would
be wrong.
Percy H. Johnston as a young man.
P
ERCY H. JOHNSTON was born in Lebanon, Kentucky, on
New Year's Day, 1880. His father died when he was
ten, and he and his siblings were forced to work to sup-
port the family. His first job was as the lamp lighter in Lebanon
at the age of eleven. He later worked as a delivery boy for a local
laundry, and later still clerked in a general store. He decided at a
very early age that he wanted to become a banker; he got his
first job in the banking field when he was hired as a runner by the
Marion National Bank of Lebanon. He was 16 years old, and
his pay was $10 a month. While working in the bank he wit-
nessed the examination of the bank by the National Bank Exam-
iner, and was quite fascinated by the task. He became friends
with the examiner, and in 1906 was recommended by the ex-
aminer to become his replacement. The Secretary of the
Treasury, Shaw, considered him to be too young for the job, but
Johnson was persistent and secured the appointment.
He kept the job for seven years, and he recounts some of his
more unusual experiences during this period of his life.
The Absent-Minded Cashier
In one of the hill town banks I discovered a shortage of $16,000
in their loans and discounts. The cashier had gone out but had
promised to return at noon. As night came on and he had not
returned it began to look like a defalcation. I called a directors'
meeting for the following morning at ten. When I entered the
bank at eight the cashier was on the job and quite unperturbed. I
spoke sharply to him about the shortage. He scratched his head,
thought a moment, went to the vault and promptly placed on
my desk the missing notes which he had absent-mindedly failed
to file in the note case. The directors assembled and I went over
the loans and discounts with them. finding everything in good
shape. The leading director was a prominent lumberman and
when I explained that, under the law, the duties of managing a
National bank devolved upon the directors he ejaculated "My
God, I never knew that; don't we give the cashier $50 a month
to run her?"
Toting a Pistol to Work
During the examination of a bank at Monticello, Kentucky, in
the feudin' country, I noticed eight or ten notes which were sus-
piciously white and clean, bearing a variety of signatures in simi-
lar handwriting. I immediately checked these notes against the
Paper Money Whole No 138
ostensible makers' accounts and found that none had received
credit for the proceeds. After the bank closed for the day I took
the cashier in the back room and told him that, in my opinion,
the notes were forgeries. He urged me to let him go home for
supper and promised to come to the hotel afterwards and give
me a full account of what had happened. When he returned I
invited him to go to my room, being careful to follow him up the
stairs. This proved a wise precaution as I was unarmed while I
noticed the bulge of a large revolver in his hip pocket.
rant for the arrest of the cashier. Other than the forgeries, the
bank's assets were good and the well-to-do farmers on the
Board voluntarily made up the deficit remaining after the surety
bond was collected. Within three weeks the bank was ready to
open and it was my duty to be on hand.
A friend telephoned to warn me that the cashier, now out on
bail, had made a statement that he would kill me when I re-
turned. At that time and place such a threat could not be safely
disregarded. I was not looking for a shooting engagement;
neither was I going to duck my responsibility to open the bank. I
was used to shotgun and rifle, but my younger brother, Ellis,
was a crack shot with side arms and he, intrigued at the prospect
of adventure, bravely volunteered to accompany me back to
Monticello.
The bank was twenty miles from the nearest railroad and we
drove over in a two-horse buggy with a young lad at the reins,
Ellis and I keeping a sharp lookout for possible ambush. We had
hoped to transfer to the stagecoach at the junction of two roads
and, wondering if we were in time to catch it, I approached a
typical bewhiskered Mountain Boy with a basket on his arm. He
told me we had missed the stage and we lingered a few minutes
to pass the time of day and ask him what was going on around
Monticello. He said there was hell to pay; that a few days before
the Federal Marshal had come through with the cashier in his
custody. When I asked him why the cashier had been arrested
he said he didn't know but doubted if there was any good rea-
son as he had known the boy all his life and his father before
him. I reminded him that there was usually cause behind a Fed-
eral arrest but he had the typical moonshiner's viewpoint that
"them thar Federal Inspectors have to raise hell ever once in a
while to hold their jobs." When I told him that I was the Federal
Inspector in question he was rendered speechless and remained
transfixed as long as I could see him as we drove off down the
road.
On reaching the bank Ellis remained in the lobby with an
open suitcase in which there were two tissue paper wrapped
parcels, each containing a fully loaded six-shooter. I had a third
revolver on my belt and kept the fourth on my desk where I was
working. Nothing happened; they weren't ready for us yet, but
the cashier had several fearless brothers around and, since we
had arrived safely, we figured that there was more likelihood of
our being picked off from behind some mountain ridge than of
having to shoot it out face to face.
After my official duties had been performed and the time
came for us to go to our hotel room for the night, the lobby was
filled with loafers and some of the toughest looking characters
were eying us in a way that boded no good. As we went upstairs
I asked the hotel keeper in a good loud voice to call us at six
o'clock and be sure to send up a pitcher of hot water with the
call. When we reached our room we pulled down the shade and
a little later blew out the lamp, but we did not go to bed. During
the day Ellis had carefully scounted the barn where our horses
were kept. About one o'clock, when everything was dark and
still, we went down the back stairs in our stocking feet, quietly
Page 189
hitched up our horses and drove out of town. Not until we had
crossed the Cumberland River twenty miles away would we feel
safe. When we reached the river the ferry was on the other side
of the stream and our shouting, even shooting, failed to attract
the ferryman. I had started to undress, expecting to swim the
river and bring the ferry back, when we saw a light and a voice
called to assure us that the ferry was coming over. An hour later
we flagged the train to Cincinnati and heaved a huge sigh of
relief.
In due time the cashier was convicted, one of the twenty-one
convictions I secured out of twenty-two prosecutions in six
years. When the judge sentenced the prisoner to several years in
Federal prison the cashier made a very tactless remark; he said
when he got out of Atlanta he was going to hunt me up and kill
me. For this indiscretion the judge added another five years to
his sentence. But he must have cooled off for he never bothered
me again . Incidentally, this man was the only one of the twenty-
one men I convicted who voiced personal resentment against
me. Most of the others shook hands with me and said I had been
fair to them.
Officials of the Treasury Department in Washington had been
monitoring Johnston's progress as a bank examiner. Secretary
of the Treasury Shaw had been extremely reluctant to hire him
in the first place, because of his age (26). But his abilities were
proven, with the result that he was given an expanded territory.
Bank Cotton
At Headland, Alabama. I walked into the First National Bank
one morning to see if I could confirm the suspicion of a previous
examiner that the bank was speculating in cotton. The door was
unlocked and an old Negro janitor was sweeping up. "Stop right
whar you is!" said he, holding up his hand. He told me he had
instructions not to let anyone in but had forgotten to lock the
door. I asked him to telephone the cashier, tell him the National
Bank Examiner was there and to come down to the bank.
"Naw, Sir, I can't do that," he objected, "Marse Alex is sound
asleep and he'll bawl the everlasting hell outta me if I wake him
up." So I got the number from the old man, phoned the cashier
and asked him to instruct the janitor to let me go inside the bank
and begin my examination. As I went inside the rail I noticed un-
der the teller's window a large packing case containing about
five bushels of cotton samples such as buyers pull out of a bale
when they examine it. I complimented the janitor on the quality
of the cotton and casually asked him who the principal buyers
were. "Oh we is; the bank is the bigges' buyer," he proudly vol-
unteered. That was just what I wanted to know. During my
examination I looked for, and sure enough found, an account
set up under the title Bank Cotton.
When the cashier arrived I told him what I had learned and
asked him to call a directors' meeting. The following day I ex-
plained to the board — made up mostly of farmers—that under
their charter the bank could not purchase cotton or anything
else not needed in carrying on their bank business. It developed
that the cotton account had always made money, that the profits
were turned back to the bank and that no one had benefited per-
sonally from the transactions. Nevertheless I had them sign an
agreement and enter it in the minutes that the bank would
abandon the illegal practice. This was a great blow to the direc-
tors because there wasn't enough other business to keep the
bank running.
When the meeting broke up one of the directors took me
aside and said, "Young fellow, you are pretty smart; you are the
Johnston a president of the Chemical National Bank in New York.
When money was collected on demand loans, instead of
crediting all of it to bank earnings, he would hold out a thousand
or two and put it in the R. Day account. I reminded him that he
had been making sworn statements to the Government which
he had just admitted to be false, that the penalty for such a false
statement was five years imprisonment, in addition to which he
had diverted $82,000 of the bank's money to another man's
name and I saw no alternative but to present the evidence to the
U.S. District Attorney for prosecution. Tears rolled down his
sunken cheeks. "I have not diverted money to any other per-
son; R. Day means rainy day!" He explained that he was anx-
ious to build up the bank's surplus account but some of the di-
rectors held contrary views and wanted to pay bigger dividends
than he considered prudent. The R. Day account was a subter-
fuge to save the directors from their own prodigality. He was an
honorable old man who had given a fine high school building to
the town. The conversation ended by my suggesting that he call
a meeting of the directors and move that the R. Day account be
closed and transferred to the bank's surplus funds. To the other
shareholders it was like a gift of $82,000 and, not wishing to
look a gift horse in the mouth, the resolution was readily passed
and all was well.
Paper Money Whole No. 138
quently deposits a few thousand dollars, never withdraws any-
thing out, yet does not receive the customary interest on his bal-
ance? I am going to put you under oath and require you to
answer my questions truthfully under penalty of the National
Banking Laws." He began to whimper and informed me that if
he told me about it he would surely lose his job. I asked him if he
had been instructed not to know anything about Mr. Day and he
admitted he had. I promptly walked into the President's office.
He was an elderly man and wore a black skullcap on his bald
pate. I asked him if he knew who was putting the money into the
R. Day account. "Did the bookkeeper tell you anything?" he
countered. "He lied to me just as he was instructed to do," I told
him. This set him back and when I threatened to put him under
oath for questioning he opened up and confided that this was
the bank's own money.
Page 190
only one who has been able to catch this. There must be some
other way by which we can do it legally and I want you to tell me
how." I was glad to show him a way. "Organize a company with
one to five thousand dollars of working capital put up by individ-
uals, pay the dividends to the stockholders and give any part of
the profits you wish to the bank." My plan was adopted and
everyone was made happy.
Interesting Interest Rates
The president of a bank in Eufaula, Alabama, a prominent
lawyer who received no salary, was present with the other direc-
tors when I was going over the notes and discounts. He was a
typical Southerner — tall, middle-aged. I asked him a routine
question "What is the current rate of interest received by your
bank?" He had risen and was striding up and down the room to
stretch his legs, so he said. He stopped suddenly, pulled his
glasses down to the end of his nose, looked over them and
asked, "Young man, does that have to go in your report?" For
the answer I showed him question 27, "Give the current rate of
interest obtained." He flicked the ash from the end of his cigar,
hesitated a moment and replied, "Very well; tell the Honorable
Comptroller that it runs all the way from 12% to grand larceny!"
What's the Difference Between "Up" and "Down"?
In a small Pennsylvania town, as I went out of lunch with my
assistant, he asked me what I thought the building of the bank
we were examining was worth. It was a two-story structure
about 30 feet wide and possibly 100 feet deep. I appraised it at
$7,500. He agreed with me but said the bank was carrying it on
the books at $30,000. When I returned from lunch I explained
to the president—an old German — that, based on comparisons
with other bank buildings I had seen, I did not see how he could
justify a valuation of $30,000. He was quite indignant and
claimed the figure was rightly nearer $50,000. I asked him if he
had an oil well or gold mine in the basement. He made no such
claim but said there was more to the property than had met my
eye. He took me out on the street and counted off six store
buildings in the block, saying "THIS is our banking house!" He
told me with pride that the bank owned all of these buildings. I
hated to do it, but I called his attention to a section in the bank-
ing law which prohibits a bank from owning any real estate other
than that used for banking purposes, and provided that real
estate acquired for debt must be disposed of within five years. In
his broken English he asked me if I had ever been to Pittsburgh;
had I seen the First National Bank Building there which has ten-
ants on 28 floors above the bank? "What's the difference if in a
big city the tenants go up in the air and in a small town they go
down the street?" He had me. So I agreed to write to Washing-
ton for a ruling. I guess he stumped the Comptroller, too, for I
never got a reply.
"R. Day"
It was in northern Ohio, in a bank with a million and a half re-
sources, that my assistant discovered an account of $82,000 on
the individual ledger to which deposits were made periodically,
but there had been no withdrawals, nor had any interest been
paid. The account was in the name of R. Day but the bookkeep-
er could give me no explanation of the extraordinary circum-
stances. "Do you mean to tell me," I asked, "that you do not
know anything about a man with $82,000 to his credit who fre-
#11111111 thru 99999999 and #00000001 WANTED
lattnICAERJD 91.,ACOLW`PAIMPlit&
A 99999999 A
PAYING
COLLECTOR'S PRICES
Large and Small size notes, $1-$100 denominations in
series 1862-1985. Buying other low and special serial
numbers.
NOBODY PAYS MORE THAN:
Mike Abramson SPMC #2653, ANA, PMCM
P.O. Box 6105
Duluth, MN 55816
800-223-2774 ext. 178 M-F
218-724-8433 evenings/weekends
Paper Money Whole No. 138 Page 191
This Third Charter note bears the signature of Percy H. Johnston.
Many years later, at the Chemical Bank in New York, one of
our customers was Fuller E. Callaway. President of the great
Callaway Mills, whose son later became a director of the bank.
On one of his visits Mr. Callaway showed me the financial state-
ment of his company and I noted with approval that he had set
up reserves for every possible contingency, even $500,000
against Forward Sales. I was so much interested that I told him
the story of R. Day. He must have shared my interest for on his
next statement I spotted a new reserve fund of $500,000 under
the caption of "R. Day." (Anyone familiar with the south, and
Georgia in particular, will probably connect Mr. Callaway with
his legacy to all of us, beautiful Callaway Gardens near Pine
Mountain, in West Central Georgia.)
REFERENCES
Chemical Chronicle. Special Edition (September 1983). New York:
Chemical Bank.
Nye, F.W. (1956) Knowledge is power: The life story of Percy Johns-
ton, banker. New York: Random House.
Money Tales continued from page 175
AN OLD JOKE
Diggs saw a note lying on the ground, but knew that it was a
counterfeit and walked on without picking it up. He told
Smithers the story, when the latter said:
'Do you know, Diggs, you have committed a very grave of-
fense?!
'Why, what have I done?'
`You have passed a counterfeit bill, knowing it to be such,'
said Smithers, without a smile, and fled. —Stillwater (Minn.)
Messenger, Nov. 16, 1858.
111.-40.--111 111
New Data (Continued from page 178)
ACKNOWLEDGEMENTS
James Lemon went out of his way to provide a microfilm of the Bureau of
Engraving and Printing plate history ledgers that he located in the U.S.
National Archives. These form the basis for much of the information con-
tained herein. Marty Vink provided photos of his extraordinary $5 FRN
Series of 1934C 629 mule. William Sherman of the U.S. National Ar-
chives again aided me in locating additional data from Bureau of Engrav-
ing and Printing plate history ledgers now in the hands of the archives.
REFERENCE CITED
Huntoon, Peter (1988). Small note mules—a fifty year retrospective:
PAPER MONEY, v. 27, pp. 5-12, 14.
Page 192
ifOrr"
Interest
Bearing
Notes Ro g
INTERNATIONAL PAPER MONEY CONVENTION
This convention, held in conjunction with the GENA show at
Cherry Hill, NJ, was an enjoyable event as usual. Only a few
currency dealers attended, but the available material helped to
make up for the number of dealers absent. The exhibits were in-
teresting and informative, especially the paper money displays.
The SPMC hospitality table was busy with the enrollment of new
members and the sale of Wismer books. We sold the last of the
lapel pins.
Many members have asked about the absence of paper
money dealers. I don't have an answer. It seems that they just
do not want to attend East coast shows. Ask your favorite deal-
ers why they don't want to offer you their material in the East. I
noticed some dealers in attendance were trying to buy material
in competition with their customers but, since they did not have
a table, they could not offer anything for sale. I sincerely hope
that this one-sided attitude will change in the future.
RECRUITEMENT REPORT
B. Cochran 12
N. Oppenheim 5
T. Denly 10
R. Balbaton 6
MEMBERSHIP DIRECTOR
Ronald HorstmanNEW St. LouPi.s0 .mBoo x636013191
MEMBERS
7660 Emmett M. Ey, 2816 Deerhaven Dr. Cincinnati, OH 45244; C,
Cincinnati obsoletes.
7661 Walter G. Fortner, 3630 Hulman St., Terre Haute, IN 47803-
3517; C, Stock, Indiana stock certificates; Indiana.
7662 Chas. R. Garner, P.O. Box 417, Sunnyside, FL 32461; C&D.
7663 Eugene Sauers, P.O. Box 25333, Greenville, SC 29616-0333;
C&D, Worldwide.
7664 C.A. Whitney Jr., Rt. 18, Whitman, MA 02382; C&D, Frac-
tional.
7665 Bill Levine, 21550 Burbank Blvd. #111, Woodland Hills, CA
91367; C, Legal tender & silver certificates.
7666 Armen Youssefi, P.O. Box 15204, Lexana, KS 66215; C&D,
Iran, Armenia, Middle East.
7667 Richard Erett, 78 White Birch Ln., Stamford, CT 06905; C.
7668 Don Sullivan, 5962 W. 76th St., Los Angeles, CA 90045; C,
U.S. obsolete notes & Mexican revolution notes.
7669 Greg Pineda, 1705 28th St., Bakersfield, CA 93301; C, Philip-
pines.
7670 Michael Nuremberg, 72 Hamilton Drive, Roslyn, NY 11576; C.
7671 George Alec, Box 293, Gibraltar (Europe); C&D.
7672 Samuel C. Farmer IV, 411 Chelsea Dr., Lancaster, PA 17601;
C, National bank notes.
Paper Money Whole No. 138
7673 Ward Kain, Box 32, Keokuk, IA 53632; C&D.
7674 Ben Hedrick, 29 Delbarton Court, Hackettstown, NJ 07840; C.
7675 Robert Richshafer, 1214 S.E. 11th Ave., Deerfield Beach, FL
33441; C&D, Obsolete currency.
7676 Don Janofskey, 2244 S. Marion St., Denver, CO 80210; C.
7677 Stan Lee; C, CSA, NBN ALA & TX.
7678 Kenneth Kiehn, Rt. 3 #21 Pelican Dr., Moses Lake, WA 98837;
C.
7679 David Tinga, 507 Holland Rd., Simpsonville, SC 29681; C,
General U.S.
7680 Les Sandler, 635 Main St., Cincinnati, OH 45202: C, Large-size
notes.
7681 George Decker, 508 W. Central, Orlando, FL 32801; D.
7682 Dan Rogers, P.O. Box 11246, Ft. Lauderdale, FL 33339; C,
Obsolete notes.
7683 William A. Schulz, 6136 S. Harrison Dr., Littleton, CO 80121;
C&D, Large-size notes.
7684 Thomas Savage, 87 Kimball Ave., Livingston, NJ 07039; C.
7685 Henry Morris, Bird & Bull Press, 2 Jericho Mtn. Rd, Newtown,
PA 18940; C&D, Material relating to book and papermaking.
7686 Paul Brittian, P.O. Box 415; Cherryville, NC 28021; C, Checks,
documents & banking.
7687 Robert A. Sell, 27 Craig Rd., Islip Terrace, NY 11752; C, Every-
thing.
7688 Joel P. Antrim Jr., 110 Portola #4, San Francisco, CA 94131; C.
7689 Lawrence R. Turner, 6732 Groveland Hill Rd., Groveland, NY
14462; C.
7690 Jimmy D. Gilbreath, 944 Wyndsor Dr., Hixson, TN 37343; C,
Mississippi currency.
7691 George H. Martens, P.O. Box 41-5038, Miami Beach, FL
33141; C, Large-size & fractional notes.
7692 Mrs. S. Schofield, 71 Crutchfield Lane, Walton-on-Thames,
Surrey KT12 2QY, England; Obsolete Banks; Latin America.
7693 Philip V. Carcione, 600 LaMe St., Monterey, CA 93940; C,
Small-size legal tender, $2 notes.
7694 Michael R. Jackyra, 1 Valley View Rd., Brookfield, CT 06804;
C, Large-size U.S.
7695 George F. McCoy, 5 Garfield Place, Little Ferry, NJ 07645; C,
U.S. error notes.
7696 James T. Weir, P.O. Box 41, Lonaconing, MD 21539; C, West-
minster MD nationals.
7697 James W. Jazzetta; C.
7698 M.R. Murphy, 4314 Aztec, Pasadena, TX 77504; C, Obsoletes
& CSA notes.
7699 Charles E. Perry, 2115 Kemp Blvd Wichita Falls, TX 76308;
C, National currency.
LM81 Randy K. Haynie; Conversion to life member from #6880.
LM82 William R. Hatchett, 6217 St. Augustine Rd.. Jacksonville, FL
32217; C&D, FL national currency.
31 mon
oP mar
Paper Money 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)
Collector
Dealer
re a.. 31241, se caw,
Paper Money Whole No. 136
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)
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)
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)
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 Iacovone, 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)
Page 193
WANTED: Crisp uncirculated U.S. $1 and $2 errors, radars, some
blocks and stars. Write first, describe completely! Ed Zegers, P.O. Box
9202, Washington, DC 20012-9202. (140)
WANTED: Obsolete banks (PA): Pottsville, Tamaqua, Minersville,
Schuylkill Haven. National banks (PA): Ashland 403, Pottsville 649,
$50 Ti; (IL): Gillespie 12314, $5L. Continental currency: May 20,
1777 signed H. Christ, Jr. Robert Gillespie, P.O. Box 4281, Mount
Penn, PA 19606.
ALBANY & TROY, NEW YORK NATIONAL WANTED. Also
Altamont, Cohoes, Ravena, Watervliet, West Troy, Lansingburgh,
Castleton. Describe or ship with price or for offer. William Panitch, P.O.
Box 12845, Albany, NY 12212. (149)
NEW YORK NATIONALS. Ballston, Saratoga, Mechanicville,
Schuylerville, Corinth, Waterford, South Glen Falls. Send description
and price. All letters answered. Thomas Minerley, 30 Charles St., Balls-
ton Spa, NY 12020. (143)
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: CSA INTERIM RECEIPTS. Particularly SC, LA, TX, MS
& AR. Single items or collections. Liberal prices paid. Send list with
prices. Gene F. Mack, P.O. Box 14684, Jacksonville, FL 32238.
WANTED: MANHATTAN COMPANY, Chase Manhattan Bank and
Aaron Burr material. Obsoletes, checks, nationals, books, stocks,
bonds, fiscal paper items, etc. Thomas Buda, P.O. Box 315, Wyckoff,
NJ 07481. (141)
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11111M■MI1=1111111111=11111111MIMMIIN■11M1
Yes! I want to up-date the value of my collection
with the assistance of Standard Catalog of United
States Paper Money
Paper Money Whole No. 138Page 194
•
Mare take note,
NEW!
IiION7th 11
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
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.)
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IYF
BUYING AND SELLING
CSA and Obsolete Notes
CSA Bonds, Stocks & Financial Items
Extensive Catalog for $2.00,
Refundable With Order
ANA-LM
SCNA
PCDA
HUGH SHULL
P.O. Box 712 / Leesville, SC 29070 / (803) 532-6747
SPMC-LM
BRNA
FUN
WANTED
OBSOLETE PAPER MONEY
rrRairelft„
(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
Sell Your Coins & Currency
To The Highest Bidder
Cant; tit Cowman.
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.
•
• .E10117. [IN Prr,cr.
A'o.tf ;17
." CY
FALlia0 C4 Dial)
TILL I at 17,171.
1
Subscription Information:
U.S. & CANADA OVERSEAS
One
Year
TVio
Years
Three
Years
One
Year
Two
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 $65 $150 $195
26 Broadway
New York, NY 10004
NY residents
Toll-Free 800-622-1880 call 212-943-1880
Paper Money Whole No. 138
Page 195
Accepting Consignments Now For These Auctions:
JUNE 1989, MEMPHIS INTERNATIONAL
A major offering of STOCKS, BONDS & RELATED ITEMS.
Closes April 15, 1989.
JUNE 1989 & 1900, MEMPHIS. Major public auctions to be
held in conjunction with BOTH the 1989 & 1990 MEMPHIS
INTERNATIONAL PAPER MONEY SHOWS! Plan ahead.
Space will be at a premium in both catalogues which will NASCAfeature FULL COLOR photography. U.S. & INTERNATIONAL
CURRENCY, STOCKS & BONDS & RELATED ITEMS. Division of R.M. Smythe & Co., Inc.
... . • 6dU ... . TV .0*WW .1.1CCISLI032.16.131
PVIRMKNAI-41, littilii01** . ',..:,&
t 7 4S:: ,,,,,,,,,,m1■1,,,,t4“ t,,,.„,0 ,.. ' ---.i.`' ...,:e
s'',■
,.,.'3----A-f ' '
• • --4,t7 -
•..`,---"
t,
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
80._1.111.
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
Page 196
Paper Money Whole No. 138
ee of ,,
,p EARLY, _,-„ ,,1/ 1 ,., i,.,. ,t AMERICAN, ,
\ I f NUMISMATICS
i,,,,,,,,,;,, , . *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
q Encased Postage Stamps Attendance ■ P.O.
Members: Life
We maintain the
LARGEST
ACTIVE INVENTORY
IN THE WORLD!
o
■
SEND US YOUR
LISTSWANT
FREE PRICE
.
LISTS AVAILABLE.
AMERICAN NUMISMATICS
c/o Dana Linett
Box 2442 ■ LaJolla, CA 92038
619-273-3566
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
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
Nobody pays more than Huntoon for
ARIZONA & WYOMING
state and territorial Nationals
_:tx2;zrr CiptezEliff.1611'
tgyetetv,4,2,:rixet
- -
lb"
Peter Huntoon
P.O. Box 3681
Laramie, WY 82071
(307) 742-2217
Paper Money Whole No. 138
Page 197
Walt Alcott
Numismatics and
Paper Americana
I SLIFOIDIA SratZTOS
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
Paper Money Whole No. 138Page 198
•
INC.
P.O. BOX 84 • NANUET, N.Y 10954
BUYING / SELLING- OBSOLETE EECURRENCY, NATIONALS• UNCUT SHTS, PROOFS, S RIP
BARRY WEXLER, Pres. Member: SPMC, PCDA, ANA, FUN, GENA, ASCC
(914) 352.9077
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
399 S. State Street - Westerville, OH 43081
1-614-882-3937
1-800-848-3966 outside Ohio
Life Member
gnterestingoo,,
=3-0-Nates
SEND
FOR
OUR
COMPLETE
PRICE
LIST
FREE
COIN
SHOP
INC
About Denominations
By 'Roger 5-f. 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
I COLLECT
MINNESOTA OBSOLETE
CURRENCY and SCRIP
Please offer what you have for sale.
Charles C. Parrish
P.O. Box 481
Rosemount, Minnesota 55068
SPMC 7456
LM ANA Since 1976
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
SPMC #2907
ANA LM #1503
J
NINE'
4-11, lf,optp0■,+
/I/17.1//,/
• / / J/1 %G,, / ONE 17117/REDINILLARS / / /04/ //eV /
TUE COI (11,1,0 MINK 1/1•IVELOPING - •
• „d//y/ ,'4,/.////71, /1,•/70,,"/„4, rwyz
/1
4*:$200,000.1:0)-
INCORPORATED UNCLOTHE TAWS •IEI .ATE OF COLOR.,
Oregon Paper Money Exchange
We Buy and Sell Western Material
STOCKS, CHECKS, ILLUSTRATED BILLHEADS
PROMPT SERVICE-GUARANTEED AUTHENTICITY
WE SOLICIT YOUR WANT LIST
CURRENT LIST FOR $1.00 - REFUNDABLE
Send For Our Catalog Today!
OREGON PAPER MONEY EXCHANGE
6802 S.W. 33rd Place, Portland, OR 97219
(503) 245-3659 (EVES)
.CURRENCY ASSQ LTION
//w i'v
/
P.a.r.67/41.41.0 1)147i
•
1
•
140 ' 1 .1(
f ;t1 ,>,
S(1'
• Broken Bank Notes
• Southern State Issues
• Confederate Currency
• Merchant Scrip
0 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
1232 1/2 N. GORDON STREET, LOS ANGELES, CA 90038
S.P.M.C. 3791
Paper Money Whole No. 138
Page 199
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
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
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
-41
%If 1, I)
AZPIAZU
tott it 11,1,1
P.O. Box 1565
St. Augustine, FL 38085-1565
(904) 979-8622
THE BANKOF S: LOUIS
,:,.**NtaCktliM„unzFaali a.1
ST. LOUIS, MISSOURI
OBSOLETES AND
NATIONALS WANTED
RONALD HORSTMAN
P.O. BOX 6011
ST. LOUIS, MISSOURI 63139
(.1.ouis Na tiona l 1 ank
"akv-ve,
Page 200
Paper Money Whole No. 138
'Of ESSIONk,
NUMISMATIS1 t
GUILD • Oa
ORDERING INSTRUCTIONS
1. Orders for currency under $250.00, $2.00 postage please.
2. All items two week return in original holders, undamaged. (P.1naprdiumn
3. Mass. residents must include 5% sales tax.
Kas!...1,4___/, vis•
4. Twenty-four hour answering machine when not in. Feel free to call and reserve your notes.
WM=
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.
7. We can offer a layaway plan on larger purchases.
Min. Order On Cards
$50 Please
Charter Member
SOO ETN
Pk14.11N1 , 1 , E
fj( OLLECTOKS
atoillS7\
LM-5773
DENLY'S OF BOSTON
LM-2a19
PHONE: (617) 482.8477
0117014 sEnicE
P.O. BOX 1010-B BOSTON, MA 02205
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 -
Quarterman 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 795 + .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 2-314 11.50 20.50 92.50
168.00
Colonial 5-1/2 x 3-3/16 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 9-5/8 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.
Nichman- Oake.) ,luctions ,Inc.
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.
ith 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.
Nichman Dales
Dean Oakes
NUM. =MI MI
John Hickman
Drawer 1456 joiva City, Iowa 51240 319-338-1111 as
**-
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