Paper Money - Vol. XXVIII, No. 1 - Whole No. 139 - January - February 1989

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1VOL. XXVIII No. WHOLE No. 139 JAN./FEB. 1989 ALABAMA ALABAMA ALABAMA 2nd ANNUAL NORTHEAST SPRINGTIME PAPER MONEY SHOW MARCH 30, 31, April 1, 2, 1989 at the VISTA INTL. HOTEL WORLD TRADE CENTER, N.Y.C. Held in conjunction with the 33rd ANNUAL METRO NEW YORK NUMISMATIC CONVENTION SHOW HOURS Thursday, March 30 — 3:30 P.M. to 8:00 P.M. Friday, March 31 — 9:30 A.M. to 7:00 P.M. Saturday, April 1 — 9:30 A.M. to 6:00 P.M. Sunday, April 2 — 10:00 A.M. to 4:00 P.M. COMPETITIVE EXHIBITS IN ALL AREAS OF NUMISMATICS. Exhibitors Welcome Educational Forums and Meetings include: SPMC, EAC, METAMS, VECTURISTS, BIBLIOMANIACS & YOUNG NUMISMATISTS. SPMC Meeting & Forum — Friday, March 31, 1989 at 4:00 p.m. featuring Tom Denly speaking on Large-Size Star Notes. Auction by BOWERS & MERENA, INC. FOR INFORMATION James K. Brandt P.O.Box 787 Pearl River, N.Y. 10965 914-735-7773 Bourse Chairman Doug Walcutt, Pres. R.R. #12 Carmel, N.Y. 10512 914-225-7008 FUTURE CONVENTION DATE March 29 -April 1,1990 AN INDEX TO PAPER MONEY Volume 27, 1988 Nos. 133-138 No. Page No. Page ABNCo archive series plate destruction. illus. 133 22 OBSOLETE NOTES Arnold. David Ray, Jr. The Calmady children. illus. David Ray Arnold, Jr. 138 173 The Calmady children. illus. 138 173 The potato barrel bank. illus. Bob Cochran 133 15 ARTISTS, DESIGNERS AND ENGRAVERS The Red River Raisin & Lake Erie Railroad and its "bank". Joseph Keller, engraver. illus. Gene Hessler 138 182 illus. Robert D. Hatfield 135 83 The Calmady children. illus. David Ray Arnold. Jr. 138 173 Poleske, Lee BANKS AND BANKERS Los ninos heroes. illus. 134 45 Percy Hampton Johnston's days as a backwoods bank examiner. illus. Bob Cochran 138 188 Battles, Rodney RAILROAD NOTES Judge John T. Morgan. illus. 138 180 Railroad notes & scrip of the United States, the Confederate Major John S. Fillmore, U.S.A.paymaster. illus. 136 122 states and Canada. illus. Richard T. Hoober. 133 19 Bolin, Benny 135 81 Spencer M. Clark 134 77 136 124 BROKEN BANK NOTES (See OBSOLETE NOTES) Rochette, Edward C. List of common replica notes 133 13 Can anyone help? illus. 134 54 Cochran, Bob Snyder, Tom. Bank happenings 137 144 1929-1935 national bank note varieties—supplement XVII. Cashier Cooper let his bulldog bark. illus. 136 101 illus. 134 48 Percy Hampton Johnston's days as a backwoods bank Souvenir cards announced 134 42 examiner. illus. 138 188 SOCIETY OF PAPER MONEY COLLECTORS Potato barrel bank. illus. 133 15 Annual awards described 134 57 CONFEDERATE Award winners in Cincinnati 137 157 List of common replica notes. Edward C. Rochette. 133 13 Faces in Memphis and Cincinnati. illus. 137 157 More replica notes. Everett K. Cooper 135 75 Candidates for SPMC board 135 86 Cooper, Everett K. Important message from the secretary 135 85 More replica notes 135 75 In memoriam COUNTERFEITING Adelbert P. "Del" Bertschy 135 87 Daniel, Forrest W. Morris Bram 133 21 Anatomy of a green goods game. Illus . 133 37 Bryan Burke 137 152 Money tales. illus. 137 156 Joe Kinney 133 21 138 175 Arthur S. Sipe 133 21 The green goods game 136 123 Glen B. Smedley 135 87 137 152 Harry Wigington 133 21 Durand, Roger. Interest bearing notes 133 21 Interest bearing notes 133 21 134 55 134 55 135 85 135 85 136 127 136 127 137 157 137 157 138 192 138 192 Exhibit awards at Memphis 136 127 Hatfield, Robert D. PCDA-SPMC members relaxing in St. Louis. illus. 133 22 Red River Raisin & Lake Erie Railroad and its "bank." illus. . 135 83 Recruitment report 133 23 Hessler, Gene 134 55 Joseph Keller, engraver. illus. 138 182 137 157 Unissued national bank circulation notes of 1873. illus. 137 145 138 192 Hoober, Richard T. (see RAILROAD NOTES) SPMC awards banquet in Memphis 136 127 Horstman, Ronald L. SPMC speakers at Memphis & Cincinnati 135 87 The first greenbacks of the Civil War. illus. 135 69 Huntoon, Peter. The paper column: U.S. LARGE-SIZE NOTES—general articles Conversion from stacked to in-line treasury signatures on The first greenbacks of the Civil War. illus. $5 series of 1882 notes in 1886. illus. 133 43 Ronald L. Horstman. 135 69 Small note mules, a fifty year retrospective. illus. 133 5 U.S. NATIONAL BANK NOTES Small note mules, new data from the fifty-year retrospective. A tough pair of aces. illus. Robert R. Moon 135 79 illus. 138 176 Census of unreported charters for large-size national bank notes . The earliest national bank title changes. illus. 137 141 Allen Mincho 135 73 United States $500 & $1,000 national bank notes. illus. 136 103 Huntoon, Peter (see separate listing) 1929-1935 national bank note varieties—supplement XVII. Mincho, Allen illus. Tom Snyder 134 48 Census of unreported charters for large-size national bank notes 135 73 Unissued national bank circulating notes of 1873. illus. Moon, Robert R. Gene Hessler 137 145 A tough pair of Aces. illus. 135 79 Whitfield, Steven NEW LITERATURE A new scrip issue documented for the sutlers of Ft. Riley, KS . 138 179 History of the private, state and national banks of Gogebic WORLD BANK NOTES County Michigan 1886-1988. Bruce K. Cox 136 127 Los ninos heroes. illus. Lee Poleske 134 45 Notes for Authors Manuscripts (ms) should be relevant to the study of paper money and related subjects, i.e., stock certificates, checks and the history of note-issuing banks, etc. The author is responsible for statements in the ms; nevertheless, the editor has the pre- rogative to edit any ms so it conforms to the objectives of the Society of Paper Money Collectors. If a ms has been published elsewhere or has been submitted to another publication, it must be mentioned to the editor. PAPER MONEY authors who wish to have their articles pub- lished elsewhere are asked to wait a minimum of one year be- fore doing so. (See copyright statement on the first page of this journal.) Manuscripts should be typed and double-spaced on 81/2 x 11-inch white paper. The printer cannot work from any other format. Sources should be listed as follows: Haxby, J. (1988). Standard catalog of United States obsolete bank notes. 1 & 3. Iola, WI: Krause. History of the Bureau of Engraving and Printing 1862-1962. (1964). Washington, D.C.: U.S. Treasury Department. Huntoon, P. (1988). The earliest national bank title changes. PAPER MONEY. 27, 141-144. Huntoon, P. (1988). The United States $500 & $1,000 na- tional bank notes. PAPER MONEY. 27. 103-114. In place of footnotes put the author's last name and page reference in parentheses, e.g. (Huntoon, 68) at the appropriate place. If there is more than one author reference for the same year, add the date, and vol. (in ital.), e.g. (Huntoon, 1988, 27, 105). If an author is not listed, use an identifying word from the title, e.g. (History, 60) or (Bureau, 60). In some instances photocopies of illustrations will suffice, provided they show all original detail. A poor photograph or photocopy will look worse when reproduced in the journal. Articles will be published as soon as possible. Nevertheless, immediate publication cannot be guaranteed. Although it might not be included with the article, the author may submit a brief biography of about 100 words that covers personal, professional and hobby-related information. Back Issues of PAPER MONEY Available The following back issues of PAPER MONEY are now available at $2.50 each from R.J. BALBATON, SPMC Book Sales Dept. P.O. Box 911 No. Attleboro, MA 02761-0911 1966 — #20 1977 — #69 1968 — #25, 26 1979 — #80, 81, 83 1970 — #35 1980 — #85, 86, 87, 89, 90 1971 — #38, 39 1983 — #104, 105, 106, 107 1972 — #41, 44 1985 — #118, 119, 120 1974 — #52, 53 1986 — #124, 125, 126 1975 — #60 1987 — #127, 128, 129, 130, 131 ### An index to "Paper Money" Volumes 1-10, 1962-1971 Please do not send funds with your order. You will be invoiced for those issues that can be supplied at the time your order is received. This procedure will avoid the necessity of making refunds. Remember, Do Not Send Funds With Your Order! YOU WILL BE BILLED! Five or more copies shipped postpaid. This opportunity to obtain the wealth of information contained in these issues may not last long, as most are in limited supply. NOW AVAILABLE!!! SPMC members Bob Cochran and Ron Horstman have generated a listing of all known counterfeit national bank notes re- ported between 1863 and 1935. Included are First, Second and Third Charter Notes, and, for the first time, a listing of reported 1929 Series counterfeits. The listing is organized by denomination, and alphabetically by state within each denomination. Each note listed is described as it was in the original publication. The listing is bound securely, so you can easily take it with you to shows and meetings. If you've ever been "stuck" with a note you thought was genuine, this booklet could easily pay for itself in just one transaction. The price of each booklet is $9.65, which includes first-class postage. All proceeds from the sale of these booklets go to the Society of Paper Money Collectors. Make checks payable to SPMC, and mail to: Bob Cochran, P.O. Box 1085, Florissant, MO 63031. 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 copy is the 10th of the month preceding the month of publication (e.g., Feb. 10th for March/April issue). Camera-ready copy will be accepted up to three weeks beyond this date. IN THIS ISSUE ALABAMA, A Four-Part Article by Bob Cochran A BRIEF HISTORY OF THE BANK OF THE STATE OF ALABAMA 5 NEWLY DISCOVERED PROOFS AND NOTES FROM THE HUNTSVILLE BRANCH OF THE BANK OF THE STATE OF ALABAMA 7 THE BANK AS IT APPEARS ON THE $20 NOTE OF THE NORTHERN BANK OF ALABAMA AT HUNTSVILLE 9 THE MAN FROM ALABAMA ON THE CONFEDERATE $1 NOTE 11 NOTES OF CAHAWBA, ALABAMA by Jay T. Benton, MD 12 THE FLORENCE BRIDGE COMPANY by Bob Whitten 14 IS THERE A SANTA CLAUS? by Robert R. Moon 16 THE ALABAMA CLAIM Gene Hessler 17 RAILROAD NOTES & SCRIP OF THE UNITED STATES, THE CONFEDERATE STATES AND CANADA Richard T. Hoober 20 SOCIETY FEATURES INTEREST BEARING NOTES 24 CALL FOR NOMINATIONS 24 NEW LITERATURE 24 NEW MEMBERS 24 MONEY MART 24 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. Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XXVIII No. 1 Whole No. 139 JAN./FEB. 1989 Paper Money Whole No. 139 Page 1 SOCIETY OF PAPER MONEY COLLECTORS Hi, m (az 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. ADVERTISING RATES SPACE Outside 1 TIME 3 TIMES 6 TIMES Back Cover $152 $420 $825 Inside Front & Back Cover $145 $405 $798 Full Page $140 $395 $775 Half -page $75 $200 $390 Quarter-page $38 $105 $198 Eighth-page $20 $55 $105 To keep rates at a minimum. advertising must be prepaid in advance according to the above schedule. One-half of amounts in shaded area may be paid six months after initial payment. In exceptional cases where special artwork or extra typing are required, the advertiser will be notified and billed extra for them accordingly. Rates are not commissionable. Proofs are not supplied. Deadline: Copy must be in the editorial office no later than the 10th of the month preceding issue (e.g., Feb. 10 for March/April issue). Camera-ready copy will be accepted up to three weeks beyond this date. Mechanical Requirements: Full page 42 x 57 picas: half-page may be either vertical or hor- izontal in format. Single column width, 20 picas. Halftones acceptable, but not mats or stereos. Page position may be requested but cannot be guaranteed. Advertising copy shall be restricted to paper currency and allied numismatic material and publications and accessories related thereto. SPMC does not guarantee advertisements but accepts copy in good faith, reserving the right to reject objectionable material or edit any copy. SPMC assumes no financial responsibility for typographical errors in advertisements, but agrees to reprint that portion of an advertise- ment in which typographical error should oc- cur upon prompt notification of such error. All advertising copy and correspondence\\eau should be sent to the Editor. Page 2 Paper Money Whole No. 139 Society of Paper Money Collectors OFFICERS PRESIDENT Roger H. Durand. P.O. Box 186, Rehoboth, MA 02769 VICE-PRESIDENT Richard J. Balbaton, 116 Fisher Street, N. Attleboro, MA 02760 SECRETARY Robert Cochran, P.O. Box 1085, Florissant, MO 63031 TREASURER Dean Oakes, Drawer 1456, Iowa City, IA 52240 APPOINTEES EDITOR Gene Hessler, P.O. Box 8147, St. Louis, MO 63156 MEMBERSHIP DIRECTOR Ron Horstman, P.O. Box 6011, St. Louis, MO 63139 BOOK SALES COORDINATOR Richard Balbaton, 116 Fisher Street, N. Attleboro, MA 02760. WISMER BOOK PROJECT Richard T. Hoober, P.O. Box 196, Newfoundland, PA 18445 LEGAL COUNSEL Robert J. Galiette, 10 Wilcox Lane, Avon, CT 06001 LIBRARIAN Wendell Wolka, P.O. Box 929, Goshen, IN 46426. PAST-PRESIDENT Larry Adams. P.O. Box 1, Boone, IA 50036 BOARD OF GOVERNORS Richard J. Balbaton. Charles Colver, Michael Crabb, Thomas W. Denly, Roger Durand, C. John Ferreri, Gene Hessler, Ronald Horstman, William Horton, Jr.. Douglas Murray, Dean Oakes, 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. MEMBERSHIP - REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. JUNIOR. Applicants must be from 12 to 18 years of age and of good moral character. Their application must be signed by a parent or a guardian. They will be preceded by the letter "j". This letter will be removed upon notification to the secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or to vote. Members of the ANA or other recognized numis- matic societies are eligible for membership. Other applicants should be sponsored by an SPMC mem- ber or provide suitable references. DUES - Annual dues are $20. Life membership, payable in installments, is $300. Members who join the Society prior to Oct. 1st receive the magazine already issued in the year in which they join. Mem- bers who join after Oct. 1st will have their dues paid through December of the following year. They will al- so receive, as a bonus, a copy of the magazine issued in November of the year in which they joined. PUBLICATIONS FOR SALE TO MEMBERS BOOKS FOR SALE : All cloth 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 bound books are 8 1/2 x 11" 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. ORDERING INSTRUCTIONS 1. Give complete description for all items ordered. 2. Total the cost of all publications ordered. 3. ALL publications are postpaid except orders for less than 5 copies of Paper Money. 4. Enclose payment (U.S. funds only) with all orders. Make your check or money order payable to: Society of Paper Money Collectors. 5. Remember to include your ZIP CODE. 6. Allow up to six weeks for delivery. We have no control of your package after we place it in the mails. Order from: R.J. Balbaton, SPMC Book Sales Dept., P.O. Box 911, N. Attleboro, MA 02761-0911 Library Services: The Society maintains a lending library for the use of the members only. For further information, write the Librarian - Wendell Wolka, P.O. Box 929, Goshen, IN 46426. Paper Money Whole No. 139 Page 3 UNPRECEDENTED! The ULTIMATE United States Obsolete Bank Note Reference Is Here! STANDARD CATALOG OF Cji4E3MTENTE BANK NOTES 1782-1866 By James A. Haxby Four volumes, 8 1/2)(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 $ Shipping Total amount enclosed Name Address City State Zip ) Check or money order (to Krause Publications) ) MasterCard/VISA (order billed as Krause = •Publications) Credit Card No 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 800-258-0929 8 am-5 pm, CST, Mon.-Fri. Non-orders and Wisconsin callers, please use our regular business line, 715-445-2214. FFE JA5 You'll find over 2700 pages in four comprehensive, hardbound volumes. This landmark reference work offers you: • Vast amounts of original research, including the most authoritative treatment of counterfeit, raised, altered and spurious notes to date! Where notes of altered origins are documented, unaltered notes are listed as well to help you trace the actual origins of issues in your collection. • 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 what a note is worth. Improve your collecting rewards 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 puzzling notes from your collection. • 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 comprehensive study! • Many notes are pictured for the first time anywhere! More than 15,000 photos make the Standard Catalog of United States Obsolete Bank Notes a tremendous asset in attributing your notes. Books will be available in early November. Reserve your copy now! Still Available — The Standard Catalog of World Paper Money, Vol. II, General Issues. It's Albert Pick's classic listing of government legal tender worldwide! Page 4 7;a11111'.; . 1" \ 7 • "' IA 11, • }, , l l • , • Paper Money Whole No. 139 WE ARE ALWAYS BUYING ■ FRACTIONAL CURRENCY ■ ENCASED POSTAGE ■ LARGE SIZE CURRENCY ■ COLONIAL CURRENCY WRITE, CALL OR SHIP: -TOVM ,:fm9A : I .■ KNE: 111C. LEN and JEAN GLAZER (718) 268.3221 POST OFFICE BOX 111 FOREST HILLS, N.Y. 11375 Y X•I F TN"---- cp. '---„,)...t \ mil i.. ) - 1 , ) ,, I. \ $ d ( (II I I (. low, (,,/ , Nl i _lei a IA 4 '2. - \ - I Charter Member Paper Money Whole No. 139 Page 5 ALABAMA a four-part article A Brief History of the Bank of the State of Alabama by BOB COCHRAN BACKGROUND What is now Alabama was originally a part of the Missis- sippi Territory. The first bank chartered in the territory was the Bank of the Mississippi, in Natchez. The bank had been founded in 1809, and was very successful; the only time specie payments were suspended was during the War of 1812, in order to keep the "hard money" out of the hands of the invading British. Mississippi became a state in 1817, leaving what was to become Alabama as a separate territory. There were three banks chartered in the Alabama Territory—The Planters and Mechanics Bank (later the Planters and Mer- chants Bank) of Huntsville, chartered in 1816; the Tombeckbee Bank of St. Stephens, chartered in February 1818; and the Bank of Mobile, chartered in November of 1818. THE FIRST ATTEMPT TO ESTABLISH A STATE BANK w HEN Alabama became a state on December 14, 1819,the constitution provided that the state could becomeinvolved in a banking business that would benefit the citizens of the state. When the first legislature convened, they were certainly aware of the success of the Mississippi bank, and they figured that all they had to do was to pass the right laws and there would be plenty of money for everyone in the new state. On December 21, 1820, a law was passed authorizing the Bank of the State of Alabama. As an example for their proposed bank the legislature used the second Bank of the United States. The U.S. government owned one-fourth of the stock in this once profitable bank, and the dividends paid to the other stockholders had been quite large. The Alabama lawmakers proposed a bank with a capital of $2 million, of which $800,000 would be reserved for the state. The remainder was to be subscribed by the citizens. The original subscriptions offered totaled $500,000, which had to be paid for in gold or silver coin. This last requirement killed the bank before it ever opened, because there was probably not that much specie available in the whole state at the time. Another nail in the coffin of this proposed bank involved the three existing banks, and state politics. The banks chartered during the territorial period were not doing well at this time; their currency was heavily discounted, and they wanted the state to take over their responsibilities. LeRoy Pope, president of the Planters and Merchants Bank of Huntsville, thought that if he could influence the new State Bank it would be able to render fi- nancial support to his troubled bank. He backed one Henry Chambers from North Alabama as a candidate for Governor. The Governor in office was Israel Pickens; he had been presi- dent of the Tombeckbee Bank and had also served as an officer of the Bank of Mobile. He saw through Pope's scheme and de- feated Chambers in the election. Once re-elected, he discour- aged the formation of a state bank. THE SECOND ATTEMPT TO ESTABLISH A STATE BANK The citizens of Alabama were determined to have their own bank, and the legislature passed another law on December 20, 1823, Remembering the problem with the initial attempt (lack of hard money), the legislators devised a plan to develop invest- ment potential and issue circulating notes. The capital of this new bank was to be provided by the State, from the following sources: 1. Sale and rents of University lands. The state had set aside land for a University, and the legislature decided that investing the funds of the University in stock of the State bank would be a good idea. 2. Funds on hand from the sale of 1,620 acres of land which had been donated to the state by Congress; the land was to have been used to establish a seat of government for the state. 3. Proceeds from the lease of certain salt springs, and all other public moneys which might come into possession of the state. 4. Sale of state bonds. These bonds, which were not to ex- ceed $100,000 in amount, were to be redeemable in 10 years, and would pay not more than 6% interest. The Governor and five commissioners (later three) would be responsible for issuing these bonds. THE PRESIDENT AND DIRECTORS OF THE BANK OF THE STATE OF ALABAMA With this as an official name, the bank began operations in Cahawba, the state capital at the time. State funds were trans- ferred to the bank as described above. Over the years, several branches were established: each time the state issued bonds to secure operating capital for the new banks. The chronology of the branches, as well as the bond issues, is as follows: Page 6 December 20, 1823 $ 100,000 January 23. 1828 100,000 January 21, 1832 (branch at Montgomery) 300,000 November 16, 1832 (branch at Decatur) 1,000,000 December 4, 1832 (branch at Mobile) 2,000,000 December 12, 1832 (increase capital at Montgomery) 500,000 January 10, 1835 (branch at Huntsville) 500,000 January 9, 1836 (increase capital at Huntsville) 500,000 January 9, 1836 (increase capital at Mobile) . 1,000,000 January 9, 1836 (increase capital at Montgomery) 500,000 June 30, 1837 (enable bank to resume specie payments) 5,000,000 December 23, 1837 (further aid to banks) 2,500,000 The bonds issued varied as to conditions. Some were payable at the discretion of the state, others had a term of 20 years, and some had a term of 30 years. In addition to the bond issues, $1,300,000 in proceeds from the sale of lands donated by Con- gress for schools was paid to the bank, and $500,000 received from the sale of additional university land was invested in stock of the bank. OPERATIONS OF THE BANK OF THE STATE OF ALABAMA The bank was empowered to deal in real and personal prop- erty, do a general banking business, and to issue circulating notes. The amount of circulating notes to be issued was left to the discretion of the president and directors of the bank. Notes were issued by the parent and branch banks in denominations ranging from 6 1/4 cents to $1000. The fractional notes were re- deemable when presented in sums of $5 or more. The president and 13 directors were elected annually by the state legislature. A quorum to conduct business consisted of the president and five directors. They had the power to appoint and remove the cashier and other officers, but they were not allowed to endorse notes for each other, any bank officers. or any out- side parties. The officers and directors were required to post bonds to guarantee the performance of their duties, and they were prohibited from betting at any "gaming table such as cards, dice, billiards, or any table known as ABC or EO, or any faro bank. or any other table of like description ." The total personal indebtedness of the officers and directors to the bank was limited to $10,000 at each of the banks; the Mobile branch was appar- ently more liberal, where the limit was $20,000. The statement of the central bank at Tuscaloosa in 1826 shows that the bank was in sound condition after three years of operation: Capital $253,000 Notes in circulation 273,000 Deposits 164,000 Notes discounted 449,000 Cash on hand (includes $141,000 in specie) 250,000 MANAGEMENT OF THE BANK The biggest problem that contributed to the eventual failure of the Bank of the State of Alabama was the process by which its of- ficers and directors were chosen. The members of the state legisla- ture elected them annually, and by the time all of the branches Paper Money Whole No. 139 were established this amounted to between 60 and 70 persons. The members of the legislature were quick to realize that this offered them enormous power in getting elected and re-elected. The bank's charter required the loans from the bank to be dis- tributed among the existing counties in the state, and the legisla- tors became the channel through which loans were secured by their constituents. The positions of officers and directors of the various banks were eventually sought by all kinds of individuals hoping to further their own purposes. They promised to give the members of the legislature advantageous discounts on loans in order to get elected to the position of director. The legislators, in turn, often sold their votes to the highest bidders, in order to pass along bank favors to influential constituents. They were the sub- ject of much "preferential treatment" by candidates for director; in one instance when an election of bank directors was up- coming, one of the members of the House of Representatives died. As was the custom, the other members wore a black arm- band for 30 days. This "badge" signified a person who was to be accorded great hospitality by the candidates. One man de- scribed as a "backwoodsman" visiting Tuscaloosa noticed this, put a black band on his arm, and was treated royally for several days before his deception was discovered. The candidates with the best chance of being elected were those not afraid to make broad promises. One man who oper- ated a hotel in Tuscaloosa believed that if he was a director of the State Bank it would greatly enhance the business of his hotel. He was elected and his business boomed. His actions were copied by the other hotel-keepers in town, and soon five innkeepers were directors of the central bank in Tuscaloosa; according to a paper read before the Alabama Bankers' Associa- tion in 1891, these men often "controlled with absolute and imperious sway the destiny of the bank." This group was dubbed the "Culinary Sanhedrin" (an obvi- ously derogatory comment of their abilities, as a literal transla- tion is "cook's court"). On one occasion, these five men were in a majority present at a meeting of the board of directors. The president of the bank, John Tindall, was known for his quiet humor. A large number of bills were presented for discount, and were approved by one or another of the five. A small note was presented, and no one seemed to know who the maker was. The note was about to be rejected, when Tindall looked curious- ly in turn at the five hotel-keepers and remarked "This man must have camped out last night." The directors, put in the position of placating their legislative sponsors, were also virtually forced to discount the notes of per- sons recommended by these legislators. In 1832 one such indi- vidual received discounts amounting to $24,000 on fictitious notes. When the fraud was discovered he escaped to Texas, but repaid the money in 1839. Business in the state prospered until 1837. Up to that time money for investment and speculation was available. Cotton was bringing good prices in Europe, and the value of land in- creased. However, the practices of the bank's directors and the legislature did not go unnoticed. Several laws were passed limiting the amount of loans to directors and legislators, but they were just as quickly annulled by other laws. THE PANIC OF 1837 The United States had been importing great quantities of materials from England in the 1830s. As of January 1, 1837, the balance of trade with England reflected a deficit of over $130 million. Most of the imports had been purchased on credit. Paper Money Whole No. 139 When the Bank of England was forced to lower its gold reserve in April, 1836, English creditors began to call in their outstand- ing obligations in the United States. Beginning in 1836, the price of cotton in Europe, primarily England, had dropped disastrously, seriously affecting banks in Mississippi. There were several banks in that state that had been speculating in cotton, and the second Bank of the United States had been active as well. By March of 1837 several banking houses in New Orleans were in trouble. The crisis reached New York, resulting in over 100 failures and losses exceeding $15 million. As seen in the table earlier, the State of Alabama averted a ca- tastrophe by issuing bonds in the amount of $7.5 million in order to keep the Bank of the State of Alabama and its branches open. By 1841 the tales of fraud within the State Bank had be- come so widespread that a bill was introduced in the legislature calling for an investigation into the affairs of the bank. A special joint committee of the House and Senate was formed, and a special act of the legislature gave this committee full access to the records of the bank. The members of the committee from the House of Repre- sentatives reported that they had "discovered the existence of a disgraceful league to plunder the banks and swindle the people of the State. Men in high office, members of the legislature, and bank directors are supposedly to be implicated. With all these facts before them the Senate has seen fit to dissolve their portion of the committee. This renders it impossible for us to act effi- ciently and we therefore tender our resignation." The full report of the joint committee, along with supporting records, was turned over to the Governor and given by him to the Secretary of State for secrecy. The report was supposedly destroyed in a Page 7 fire in the Capitol building in 1849. Knox states "This was a confession that men were involved of too great power in the State to be safely punished by ordinary methods." END OF THE BANK The branches of the Bank of the State of Alabama were ordered closed by the legislature in 1842-1843. The charter of the parent bank expired on January 1, 1845 and it was placed in liquidation. As seen in the table earlier, the closing of the bank left the State of Alabama with a debt of $14 million for the bonds it had issued to capitalize the banks; the interest on these bonds amounted to almost $17 million before they were liquidated. (It is interesting to recall that the original plan for raising capital for the bank was a bond issue "not to exceed $100,000" — in four- teen years and three days the state had exceeded this amount by a mere $13,900,000.) The State was also required to pay annual interest on the property of the university and schools which the bank had absorbed. Even though the losses by the state from the Bank "experi- ment" amounted to some $35 million, the citizens of Alabama did benefit from it in one way. For a period of approximately ten years, the bank paid for the expenses of the state government: consequently, the citizens paid virtually no taxes during that time. Knox estimated the amount of taxes saved by the citizens of Alabama to be approximately $40 million during the period. so he felt that the people did receive some compensation for the expenditures. In 1848 a large number of the bonds used to fi- nance the State Bank were coming due, and the legislature re- stored direct taxes so that the state could meet its financial obli- gations. The books on the Bank of the State of Alabama were finally closed in 1868. Part 2 Newly Discovered Proofs and Notes from the Huntsville Branch of the Bank of the State of Alabama T w0 unlisted denominations of notes issued by the Hunts-ville branch of the Bank of the State of Alabama havebeen recently "discovered." They are the $1 and $100 denominations. The $1 denomination, along with several other notes issued by the bank, resides in the Eric P. Newman Collection in St. Louis. They were made known to the author by Gene Hessler; the illustrations of the $1 proof and issued note, the $5 issued note, and the $10 issued note that accompany this article are made available through the courtesy of Mr. Newman and Mr. Hessler. These notes are perhaps being seen by the collecting public for the first time. The $100 denomination is a proof of a post note, payable at the Bank of Louisiana in New Orleans. As related by Steven Whitfield in his article "Present Home Town, Huntsville, Alabama," the Huntsville branch of the Bank of the State of Alabama was organized in early 1835. A commit- tee was formed by the bank to secure a permanent home, and a Greek revival structure was built on the west side of the Court- house Square in Huntsville. The new building was occupied by the Huntsville branch of the Bank of the State of Alabama in 1840. As detailed by Knox, the branches were closed by the state legislative session of 1842-1843; the final settlement affairs of the Huntsville branch were not completed until 1857. The main reason for the rarity of surviving notes of the Bank of the State of Alabama and its branches was the Act of January 25, 1845 passed by the state legislature requiring the directors of the various banks to destroy all of their redeemed bills, along with all of the unissued notes in their possession. The following list contains the denominations of surviving proof and issued notes from the Huntsville branch of the Bank of the State of Alabama, as compiled by the author: $1 —proof, issued note; $5 — proof, uncut sheet (proof), issued note; $10 —proof, issued note; $20 —proof; $100 — proof. A Tti THE ItAltik(WrICR STATE O1 Page 8 Paper Money Whole No. 139 Proofs of $10 and $100 denominations Issued and proof $1 and $5 notes. The wet-printed, issued notes illus- trate the shrinking that took place (courtesy of Eric P. Newman). This leaves only the $50 denomination to be reported. Any- his book "A total of 35 State Bank notes are known and one with knowledge of the other issued notes from the Hunts- described. All are rare." ville branch is encouraged to report them. Rosene comments in Paper Money Whole No. 139 Page 9 Part 3 The Bank As It Appears on the $20 Note of the Northern Bank of Alabama at Huntsville T HE Northern Bank of Alabama was incorporated in Huntsville on February 10, 1852. This bank occupied the building erected for the Huntsville branch of the Bank of the State of Alabama, which had ceased operations in 1842 or 1843. The Northern Bank operated successfully until the spring of 1862, when Federal troops entered Huntsville. The bank was finally forced to close when the town was permanently occupied in the fall of 1863. The president of the bank was James J. Donegan, who had been involved with the branch of the State Bank: the cashier was Theophilus Lacy. This $20 note bears the signatures of Theophilus Lacy, cashier and James J. Donegan, president. Lacy later served as cashier of the Na- tional Bank of Huntsville (courtesy of Eric P. Newman). After the Civil War, many of the directors of the Northern Bank were involved with the organization of the National Bank of Huntsville, which occupied the old bank building. The origi- nal application for a national bank charter shows the proposed name to be "The National Bank of North Alabama." Perhaps this name was too broad in scope for the comptroller; maybe the organizers felt that the word "Huntsville" belonged in the title; it is even possible that whoever filled out the form entered "North Alabama" as a force of habit. In any event, "North Alabama" is scratched out and "Huntsville" substituted. The National Bank of Huntsville (Charter 1560) was placed in voluntary liquidation in 1889, and was succeeded by the First National Bank of Huntsville (Charter 4067). First National be- came part of the First Alabama Bank Corporation in the early 1980s. and the building is still used as the main office. The interior has been renovated many times over the years, but the exterior is much the same as it was when it opened 150 years ago. The central vignette on the $20 issue of the Northern Bank clearly depicts the building as it appeared at the time the vignette was engraved by Toppan, Carpenter, Casilear & Company; the bank is the structure directly to the right of the woman in the center of the vignette. A description of the building clearly con- firms its presence on the note: This architectural and financial landmark, which stands on a high limestone bluff overlooking the Big Spring, has been oc- cupied by banking institutions since it was built . . . The large, semi-detached structure at the rear of the main build- ing provided living quarters for the servants (of the cashier and his family, who lived over the main banking room: a common practice of the time) ... . The upper portion of the building, visible in the vignette behind the leaves, was a porch. The small rectangle at the base of the woman's outstretched finger was a door leading to deten- tion cells in the basement of the building. The bank building is visible at the right of the two women. The face of the bank building as it appeared when the $20 note was issued. This photograph was taken when Huntsville was occupied by Union troops during the Civil War; notice the large flag and the soldiers. Page 10 Paper Money Whole No. 139 Many of the same directors and officers of the Northern Bank of Alabama in Huntsuille served in similar capacities when this application for a national charter was submitted. Notice that they intended to use The National Bank of North Alabama . ' as a title. but changed it to "The National Bank of Huntsville." The pump house and the entrance to the holding cells in the basement of the bank as they appear on the $20 note. Olrganiation tr1ificite. jYt'e, the teneferstaned, aleose ',awe a, 4./X ,,e e •1 Pika ameelatert eienelves he pe.e;ve,se ee: Ton e.,18,fteelation„ and traeisactiny the tiresinep. of Raeillikf. te?, ,-( cI Kovrew, entitled- 4 gIn CI 'et IA, It t oaiZe a ( ,'SCal■vauC 411 cacj 4cca ttidle 4 464,4 ,q'ttlii.) 'MOO f).), QM) to 0111)C 1.41, 011" CI 11714) I Ci)C.1111el iftelf4, " f2? ,,NA cd -site iie tr, h81, de 7721Zie4 and Are:C.111r 1` (01,k1Clfi erga., iferieWeate.: ,first. Author's Note: Huntsville. Alabama is my home town. My first bank account was with the old First National Bank, and I transacted my "business" in the old building. At that time, the late 1950s. the main banking room was empty except for the tellers' cages on one side and tall writing stands on the other. I can remember the strange-looking old bank notes and checks under the thick glass on the writing stands. One former cashier of the bank told me that the first sheet of 1929 Series $5 national currency notes issued to the First National Bank was placed under the glass in the late 1930s: a man broke into the bank and stole the sheet, and made the rounds of the bars on the courthouse square tearing off notes to pay for his drinks. He finally attracted the attention of the police, who managed to salvage what was left of the sheet, 3 notes. The stories of the banks that occupied this building over the years are interesting to me. and I hope that they will stimulate other SPMC members to consider submitting articles about their favorite bank and its notes. ACKNOWLEDGMENTS Gene Hessler and Eric P. Newman REFERENCES Glimpses into Ante-Bellum homes, Huntsville, Alabama (1986). Ameri- can Association of University Women, Huntsville branch. Knox, J.J. (1903). History of banking in the United States. Bradford Rhodes & Co.: New York. Leggett, L.C. (1975). Mississippi obsolete paper money and scrip. Society of Paper Money Collectors. Rosene, W., Jr. (1984). Alabama obsolete paper money and scrip. Society of Paper Money Collectors. Sumner, W.G. (1884). A history of American currency. Henry Holt & Co.: New York. Whitfield, S. (1984, Nov./Dec.). Present home town, Huntsville. Alabama. Paper Money, pp. 267-272. itzwzinn====a3amom . _ 0 ND lorY3 41)R9omf +A • AO,/"":" 4'47) .72:475w 1), ONE D O LLAR ir„ I 1.■•■%;:ir■■•■■.■1^1■_1■1,••■+ 7,,,!■■,71 ,:147-Ax Tgls eileg •ri Paper Money Whole No. 139Page 11 Part 4 The Man From Alabama on the Confederate $1 Note Confederate $1 issue of February 17, 1864; portrait of Clement Claiborne Clay, Confederate States Senator from Huntsville, Alabama. T HE CONFEDERATE $1 issues of September 2. 1862, April6, 1863 and February 17, 1864 have, as a central vig-nette, a portrait of Clement Claiborne Clay, a native of Huntsville, Alabama. Clay was the son of Clement Comer Clay, whose distin- guished political service included terms in the territorial, state and federal legislatures, state Supreme Court, and two terms as Alabama's eighth Governor. The younger Clay was born in Huntsville on December 13, 1816. He attended the University of Alabama in Tuscaloosa and graduated in 1831. He chose law as his vocation, and was ad- mitted to the bar in 1840. Clay was a very popular citizen, and with the backing of his father was elected to the U.S. Senate in 1853. When Alabama seceded from the Union in 1861, Clay re- signed from the U.S. Senate. He was immediately elected to the Confederate Senate where he became quite active. In 1864 Clay, under the guise of "Peace Commissioner," was sent on a mission to Canada by James A. Seddon, Confederate Secretary of War. The purpose of this mission was to supervise Confederate activities along the U.S.-Canadian border, which were aimed at disrupting the re-election campaign of President Abraham Lincoln and possibly shortening the war. George N. Sanders, a Confederate agent in Canada, proposed a raid on a U.S. border town; according to published stories, Clay agreed with Sanders' plan in principle. but apparently did not approve the raid in writing. Sanders possibly forged Clay's signature on a letter approving the raid. The result was the famous Confeder- ate raid on St. Albans, Vermont. [For a detailed story of this famous incident, see "St. Albans Has Been Surprised," in Paper Money November/December 1981.] Clay was later involved with plans to capture the Federal Steamer Michigan on Lake Erie. The ultimate goal of the plan was to secure the release of several thousand Confederate prisoners-of-war. The plan was uncovered before any action was taken, and Clay fled Canada. He returned to Richmond and the Confederate Senate, and was later charged with inciting riots in New York. He was also charged with being an accessory in an attempted assassination of President Lincoln, and the U.S. Government offered a reward of $25,000 for his arrest. [The charges were never proven.] At the end of the Civil War, Clay voluntarily surrendered in Macon, Georgia. He was taken to Fortress Monroe, Virginia, where he joined ex-Confederate President Jefferson Davis as a prisoner. He was released in 1867, and returned to Huntsville where he resumed his law practice. Clement Claiborne Clay died in Huntsville on June 3, 1884. According to William Bradbeer, there were thirty-three varie- ties of the $1 Clay note, within the three main issues. The notes were engraved by Keatinge and Ball of Columbia, South Caro- lina. SOURCES: Bradbeer. W.W. (1915). Confederate and Southern State Currency. Mount Vernon, NY. (1956 reprint by Beebe, Omaha, NE.) Betts, E.C. (1909). Early History of Huntsville. Alabama. 1804 to 1870. (1966 reprint by Southern University Press, Birmingham. AL.) Lindsey, D. St. Albans Has Been Surprised. Paper Money. Vol. XX, No. 6, (Whole Number 96). November/December 1981. The Society of Paper Money Collectors. Inc. MitonalkaAttAttAtuntWIAtta 01.0MohnliotmAttbasa STATE TREASURER pay t© Dollars, & on for nder my hand a at Cahatcba the ATE TREAS R 4 3 . At", T N 1) A. Page 12 Paper Money Whole No. 139 Notes of Cahawba Alabama by JAY T. BENTON, M.D. 0 N December 14, 1819, Alabama became a state.During the first two years the capital was moved three times, as different political strengths surfaced. In 1820, the capital was moved to Cahawba, at the junction of the Cahawba and Alabama Rivers, about the center of the state. Cahawba was a new town. Lots were laid out and sold to finance the government. The governor, William Wyatt Bibb, hoped to get $300,000 from their sale. The state was still very young and there was not much money in the treasury. In December 1820, the state legislature authorized a State Bank. The bank did not succeed; not enough of the stock was sold. On the second attempt, in December, 1823, the Bank of the State of Alabama was finally organized. The first check was written on September 9, 1825, and was made out to a Mr. Samuel Pickens himself for $100. Under an Act of December 15, 1820, the state comptroller was given the right to issue warrants. They circulated at a dis- count and were considered the first "money" issued by the state of Alabama. I had the opportunity, when I was in high school, to travel down the Alabama River by motorboat. We spent the night in Cahawba, camping out. Now it's a ghost town: very little re- mains. That trip, and the fact that this was the first "money" is- sued by the State. has prompted my interest in this collection. In his 1984 book, Alabama Obsolete Notes and Scrip. Rosene lists five Comptroller's Warrants. One of these listings states "no description available." They are all listed as rare with only one to five known for each. There are no illustrations. Criswell, in his 1976 edition of Confederate and Southern States Currency, lists the Comptroller's Warrants, saying "Very little is known about this issue of notes." Four are illustrated in his book. They are listed as extremely rare. My collection has three warrants similar to the ones shown by Criswell. One is for $100 and is made out to David & Nicholas Crocheron; they were the builders of the State House at Cahaw- ba. The State House was to cost $9000. This warrant is appar- rently a payment for some minor part of it. It was to be paid out of the "appropriation for building the State House." Dated De- cember 28, 1820, it is endorsed by "D & N" Crocheron on the back. It grades VF, but is cut-cancelled. Brantley, in his book Banking in Alabama 1816-1860, has a sketch of a similar note made out to the Crocheron brothers. This $20 note is in the Alabama State Archives. The second warrant I have is for $10 made out to Matthew D. Thomason from the "Contingent fund." Mr. Thomason assisted in the second sale of lots at Cahawba in November, 1820. He was also the doorkeeper of the House at a called session of the legislature in 1821 and doorkeeper of the Senate in 1823. It is endorsed "M.D. Thomason." It grades very fine, and is cut- cancelled also. The third warrant in my collection is also for $10 and is made out to John Gause; the date is December 18th, 1821. Mr. Gause was a State Senator from Montgomery County. The C6.7;:.tnee( de..4.4Z sea.), (having ao,a -ia1 seal.) at CoAarr4.0. ill 4r1P-6,(06 ptrollcr, f5 Paper Money Whole No. 139 third session of the state legislature ended December 19, 1821. This was apparently part or all of his pay. It is uncirculated and is cut-cancelled. Criswell has one in his book made out to Thomas Hogg who was also a Senator in the same session. His warrant is for twenty dollars and is dated December 19th, 1821. I have not been able to establish the amount paid for this session of the legislature. If this was indeed Cause's pay for the session, legislative pay has gone up considerably since then! Another note in my collection is a different type of warrant than those previously listed. It is not listed in any reference that I have found. It is dated the 10th day of December, 1821. Jona- than A. Thrailkill, who endorsed it on the back, was apparently a constable attending the circuit court. He is not mentioned in Page 13 my references. This note is extremely fine, but it too has been cut-cancelled. The fifth item is a check, number five, drawn on the Bank of the State of Alabama for $120. It is dated December 30. 1825. and is payable to bearer. This check is signed by Samuel Pick- ens, the same man who signed the warrants and received the first State Bank check. Mr. Pickens was comptroller of the State Bank by this time. The last note in my collection is not a state note but an issue of the Town Council of Cahawba for twenty-five cents. The year is 182(1). This note is made out to E. Lane, or Laws. Edmund Lane was a superintendent of subscriptions for the State Bank in 1820 and lived in Cahawba. The condition of this note is good. 114.0445AMAMM444414144gs 444444144444MAttiti* B. B. :10 State Treasurer pay toc--- - Ten Dollars, out of the funa appropriated for the pay- meut of the Members of the General ssembly. Given under my hand and private seal, (having no official seal at Cabawba, the — day of Dec. • **** ***** „ Comptroller, P. A. t B. Allen & Co. Printers, ColzawbajiiriMpTripiiinnhrifiqiiii Continued on page 15 by BOB WHITTEN AIVEit entocE, SHEFF , ELP, ALA. The President and Directors of the FLORENCE BRIDGE COMPANY, J'rrrtraise to pay the Bearer, on demand, at their Treasurer's Office, Twnwx-sr-rxvE CENTS, in enrrent Bonk .Pirotes, when I/o' stun of fire Dollars is presented. Flopence, • 183 E. mDrris, Pr. I i i. .'rest. Page 14 Paper Money Whole No. 139 THE FLORENCE BRIDGE COMPANY The two-level steel bridge constructed between 1893 and 1895, as it appeared on an early postcard. Notice the streetcar crossing on the upper level. Twenty-five cent note dated May 11, 1836, signed by Chas. Warren. T HE FLORENCE BRIDGE COMPANY was chartered as a corpor- ation by an act of the Alabama State Legislature in 1832. The primary purpose of the company was to construct and operate a toll bridge across the Tennessee River at a suitable location. The bridge constructed at Florence was built of heavy timbers in eight spans placed on wooden pilings, and was covered and weather-boarded on both sides. The bridge was divided into two passageways for its entire length; a sign posted at either end warned users to "Keep to the right, as the law directs." The original bridge lasted until 1853, when a cyclone leveled two of the spans. In 1858 the Florence Bridge Company joined the Memphis and Charleston Railroad Company to reconstruct the bridge. The railroad paid the Florence Bridge Company a handsome sum for the use of the abutments, rights of way, ferry rights, etc. The new bridge was opened to the public for both train and wagon travel. In 1862 the bridge was destroyed by Confederate forces under Colonel Helm (of Kentucky Cavalry fame) to prevent its use by invading Union troops. It was rebuilt in 1870, to carry the same traffic it handled before the War. In 1874 the bridge was again destroyed by a cyclone, and was rebuilt; this latest structure remained serviceable until 1892. In May of that year, a locomotive, tender and three cars heavily laden with limestone was crossing the bridge, when, without warning, the bridge collapsed and the train fell into the river fifty-five feet below. In the descent, the train fell upon and through the pedestrian and wagon way on the lower level below the railroad tracks. The President and :Directors of the VLDERSE 11-3EDIgE tRiVIPLWr il Promise to pay the Bearer, on ilewaral, at their Treasurer's ()gee, 11X11TIT CENTS, in current Bank Notes, when the sant ty' Tire Dollars is presented. ftuec-ne4 :,,p 183 L. MrriN, Pr. I e 1"rest Paper Money Whole No. 139 Page 15 Fifty-cent note dated Dec. 12. 1839, signed by C. Cottrell. A structural, fixed steel bridge, fabricated by the Detroit Bridge and Iron Works, was erected between 1893 and 1895. Between 1904 and 1933 street cars shared the upper level with the railroads. Automobile traffic on the lower level was discon- tinued in 1939, when a modern bridge was completed parallel to the old one. Today the railroads have abandoned the bridge. and it is no longer in use. However, one can still see the old limestone block piers and steel trusses that connected the north and south banks of the great Tennessee River. SCRIP ISSUES OF THE FLORENCE BRIDGE COMPANY Two denominations of scrip issued by the Florence Bridge Com- pany are illustrated with this article. All are very rare — Rosene assigns a Rarity 7 to these issues, with five or less known to exist. The imprint on both notes is "E. Morris. Pr. Philadelphia." Rosene describes a twenty-five cent note as having an imprint of "R.M., Philadelphia," so it is possible that other notes were printed by this firm. The central vignette on both notes depicts a covered bridge, but it is probably not the original Florence bridge. REFERENCES Lewis, O.D. Article in the Florence Herald, August 11, 1960. Journal of Muscle Shoals History. Volume IX. 1981. Rosene, W. Jr. (1984). Alabama Obsolete Paper Money and Scrip. The Society of Paper Money Collectors, Inc. Cahawba Continued from page 13 The town of Cahawba, capital and county seat, was short-lived. The capital was moved to Tuscaloosa in 1826; the county seat was moved in 1865, five miles upriver to Selma. The Civil War took a heavy toll on the young of the town. Cahawba also suffered from periodic flooding and was virtually deserted by the late 1800s. Only a few buildings are still standing today. One of the most interesting remembrances of Cahawba is this group of notes. SOURCES This note seems similar to two notes dated September 7, 1837, and August 9, 1837, both listed by Rosene. One was is- sued by the town council, the other by the town treasurer. No mention of any earlier issues is made. Brantley, W.H., Jr. (1961). Banking in Alabama, 1. Privately printed. (1947). Three capitals. University, AL: U. of Alabama Press. Criswell. G.C. (1976). Confederate and southern states currency. Citra, FL: Criswell. Harris. W.S. (1977). Dead Towns of Alabama. University, AL: U. of Alabama Press. Rosene, W., Jr. (1984). Alabama obsolete notes and scrip. Society of Paper Money Collectors. Ir.11111016% IHE ATI1ENS SANA .Y1111 NS CO sew rook 4 Page 16 Paper Money Whole No. 139 IS THERE A SANTA CLAUS? (A SEQUEL) by ROBERT R. MOON SPMC 5766 After the publication of my "Santa Claus" article in PAPER MONEY No. 132, I received several letters from other SPMC members relating their own special stories and I wish to thank them all. I thought that would be the end of the adventure but now I have another tale to tell. A TELEPHONE CALL On the evening of Monday, February 29, 1988, the telephone rang. The caller identified himself and said, "You don't know me, Mr. Moon, but last Friday night I was cashing my paycheck at the Shop-Rite in Catskill when I noticed that one of the $20 bills I got back looked a little funny. I took a closer look at it and saw that it had a brown seal and said Athens National Bank on it. Well, I happen to be a coin collector so I figured it had to be worth something more than face value. So, today I took it to the Key Bank office here in town and showed it to the manager. She offered to give me $20 for it but I knew it had to be worth something so she suggested that I give a fellow named Robert Moon over in Kinderhook a call. She said that he's a real expert on this type of thing and that he ought to be able to help me out." In the way of background information, Shop-Rite is a super- market chain here in the Hudson Valley area of upstate New York and Catskill is the county seat of Green County located on the west bank of the Hudson River about 110 miles north of New York City. Athens, which has a population of about 1,700, is located about four miles north of Catskill. The note the fellow apparently had was a Series of 1929 $20 note issued by the Athens National Bank (Ch. 10856). Key Bank had absorbed the Athens bank in 1955 and is the only banking facility located in that community. posit box, as well as a little cash. When I went to the gentleman's house, I planned to use what I call the Frank Levitan maneuver (see Frank's article in PAPER MONEY No. 116 for further ex- planation). THE MEETING That evening I arrived at his house and after exchanging the usual pleasantries, I began to explain where national currency came from and talked about the history of the Athens National Bank. Over the course of an hour, while answering his ques- tions, and those of his wife, I slowly pulled note after note on different banks of Greene County and their reaction was typical of people not familiar with these "hometown" bank notes. I could have talked for hours but I felt the time was right to get down to business. I then made an offer on the note and, like a good salesman, sat back and waited for his response. He then said, "Well, you know, I really hadn't planned on selling it. I just wanted to find out something about it but after seeing your collection and how much you enjoy your hobby, I really don't know what to do now." His wife then added, "Oh, why don't you sell it to him. What are you going to do with it. anyway. Besides, he'll enjoy it a whole lot more." Well, that made the difference. We shook hands and made the transaction. (Note to you wise guys out there: No, I didn't rip the guy off. One of the reasons I enjoy the paper money hobby so much is that we don't have the thieves you sometimes find in the coin in- dustry so I'm not about to start acting like one myself. Besides, I have really worked hard at becoming known around the area as the person who will pay a fair price for nationals. The fact that the bank manager told the fellow to get in touch with me, I be- lieve, attests to this.) THE BANK ITSELF The Athens National Bank was organized on April 26, 1916 with a capitalization of $25,000 and was assigned Charter 10856. The bank led a relatively quiet existence. It was ab- sorbed by the National Commercial Bank and Trust Company of Albany on May 3, 1955. and, as part of a corporate reorgani- zation, National Commercial became Key Bank N.A. in 1980. I told the gentleman the note was definitely worth more than face value and, if possible, I would be happy to look at it. Not wanting to "scare him away," I made no mention of the fact that I was definitely interested in acquiring the note for my collection. We set up a date at his house for the next evening. A LITTLE PREPARATION The next day I had my wife stop by the bank and take all of my notes from national banks in Greene County out of the safe de- THE NOTE The note is a Series of 1929. Type II $20 issued by the Athens National Bank and grades Very Fine. Hickman and Oakes' Standard Catalog of National Bank Notes rates this bank as an R5 (3 to 5 known) in small-size. A few other notes on the bank have turned up since the publication of the book in 1982 to just push it over into the R4 rating (6 to 11 known). However two of Continued on page 19 Paper Money Whole No. 139 Page 17 The Alabama Claim by GENE HESSLER (Kearsage) The Kearsage sinking the Alabama. (Deerhound) HEN Alabama seceded from the Union on 15 Feb- ruary 1861, Raphael Semmes was secretary of the light-house board in Washington; he resigned and reported to Jefferson Davis. With no time to be wasted, the future President of the Confederacy sent Semmes to industrial New England to purchase war materiel. Semmes returned on 4 April and was rewarded with a commission to command the Sumter. Raphael Semmes The ships of both the Union and the Confederate navies sailed waters far from the eastern coast of the United States in search of ships from countries sympathetic to the side consid- ered as the enemy. In January 1862 the Sumter was caught in a blockade while in Cadiz for repairs. "Old Beeswax," as Semmes was called, and his crew were taken to England, and the Sumter was sold. Afifinnied, U72_ili.:4107g'1-1-24 zek(vi-df-olt. rrea,surr. U,)r/'dS/n/es ;;) atrt), yam' - I/ is (why erthned gm/ klWv) Have been deposited withilieTreasurer of the Unif ed States 6010-4=---)@ At hi s or, 0 _DREXEL , AfOR GAN" X'. Co. .4101TO.A; _BLASS CO c.Z4 Y 0011E d CO. or their order. (7;f1/;/ 7-C11; /Crie5. //)-;(../ .Reyrthr f,,,..7r'en sag Paper Money Whole No. 139Page 18 The No. 1, and only, certificate of deposit for $15,500,000. At this time James D. Bulloch, the Confederate naval agent in Great Britain was supervising the construction of the Alabama; British shipyards had already built the Florida for the Confed- eracy. "The agents of Charles Francis Adams, American Minis- ter to Great Britain, had no difficulty in establishing that she [the Alabama) was being built for anything but peaceful purposes and the Crown law offices recommended her seizure."' Great Britain, in order to keep their mills occupied, needed cotton from the southern states. The English Government pro- jected an appearance of neutrality; nevertheless, certain dispen- sations were granted to the Confederate Government. The British Government took no action after the order to seize the Alabama was given. On 29 April 1862, under pretense of a trial run, the Alabama set sail for the Azores. Built for him and named after the state to which he remained loyal, Semmes was in command. After the rendezvous with a supply ship, the Alabama sailed into the North Atlantic. The 210-foot Alabama carried all national flags, but usually set the St. George Cross when approaching other vessels. During the next two months, twenty ships were either taken or destroyed by the Alabama on an extended trial run. Before she sailed around the Cape of Good Hope, with a Union cruiser in pursuit, she took eighteen more ships. Badly in need of repairs, Semmes and his crew reached the French harbor of Cherbourg on 11 June 1864. The Kearsage, a Union sloop in Holland at the time, was alerted and sent to chal- lenge the Alabama. With only partial repairs completed, the Alabama left the harbor. When the engagement took place, the Kearsage proved to be the superior ship—the Alabama was sunk and the crew taken to England. Semmes was able to return to Mobile where he opened a law office. On 15 December 1865, under orders of Secretary of the Navy Gideon Welles, he was arrested. Amnesty was granted some months later and Semmes was released in May 1866. The back of the certificate with endorsements. - NCORPOR Uri MP -r11 STATE 0,01.0.00 --- • ;male /,,, 7.4v, / ONE 17/:17IREDDOLLillti //7, /5kk/ 4,1/ • THE lif/1.1111A1/1/ DP:V1:1.111.1N1/ COPIPANI. le/ /lei% 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) Paper Money Whole No. 139 Page 19 Harper's Weekly of 16 August 1862 listed the following chronology of events. Habana was repaired and christened the Sumter (Harper's Weekly 3 June 1861). Sumter carries five guns: four 32s and one 68 on a pivot. Crew of 114 men under command of Captain Semmes. 13 June 1861 trial trip 24 June 1861 (Head of the Passes) Orders to be underway 25 June 1861 Union ships Brooklyn and Powhatan await Sumter 30 June 1861 Ran blockade into Gulf of Mexico at 4:30 p.m. 3 July 1861 Captured Union Golden Rocket; it was destroyed by fire after crew transferred to Sumter 4 July 1861 Captured Cuba and Machias 5 July 1861 Captured Ben Dunning and Alibert Adams; both brigs 6 July 1861 Captured Louisa Kilham, a bark and West Wind, a brig 25 July 1861 Captured Abby Bradford. a schooner 27 July 1861 Captured Joseph Maxwell, a bark 27 Sep. 1861 Captured Joseph Park 31 Oct. 1861 Captured Trowbridge 25 Nov. 1861 Captured Montmorenci 3 Apr. 1862 It was reported that the commanders of the Brooklyn and Keystone State were court- martialed for allowing the Sumter to leave the Mississippi River Seven years later, on 14 September 1872, the Geneva Con- ference found Great Britain responsible for all the damage caused by the Alabama—the most successful Confederate raider. The Alabama was constructed by the British for a belli- gerent southern government. For this claim, Great Britain was obligated to pay $15,500,000 in gold to the United States. This payment was received under the Act of 3 March 1863, Section 5: "And be it further enacted, That the Secretary of the Treasury is hereby authorized to receive deposits of gold coin and bullion with the Treasurer or any Assistant Treasurer of the United States, in sums of not less than twenty dollars . . ." The face of the certificate bears the signatures of William A. Richard- son, Secretary of the Treasury, John Allison, Register of the Treasury and F.E. Spinner, Treasurer. Each person who endorsed the certificate was presented with a facsimile; there could be others. An example was observed in the collection of The Chase Manhattan Bank Money Museum, now part of the Numismatic Collections at the Smithsonian. When the British payment was made, it was probably the largest made at one time to the United States. 1. Fletcher Pratt, ed., The Compact History of the United States Navy, revised by Hartley E. Howe, Hawthorne Books, Inc., New York, 1962, p. 149. Additional Sources Appletons' Cyclopaedia of American History. D. Appleton and Com- pany, Vol. V, New York, 1888. McQuade, Ruth. "The Alabama Arbitration Certificate of Deposit," The Canadian Paper Money Journal, Vol. XX, No. 3, July, 1984, p. 63. Santa Claus (Continued from page 16) these are hanging on the walls of local banks and therefore will probably never be available. All other Athens small-size notes that have been on the market recently are Type I $10s, so this was definitely a nice find. A DEALER'S REACTION One of the people I told about my latest acquisition was well- known dealer and New York specialist Allen Mincho of Cedar Park, Texas. Allen, while happy for me, was a little concerned. After all, he said, if collectors started finding nationals in circula- tion, there wouldn't be a need for dealers. Besides, I thought, I never heard of a paper money dealer having double coupon days. Seriously, I don't think Allen has much to worry about. Santa Claus can't come that often, can he? A FINAL THOUGHT One question remains — how did a note like this end up in the cash drawer at the local supermarket in 1988? To quote the late Amon Carter. Jr7: "I wish you could look at a National Bank Note and — hocus, pocus — see everywhere it's been." Amen. SOURCES Hickman, John and Dean Oakes, Standard Catalog of National Bank Notes. Krause Publications, Iola, Wisconsin, 1982. Page 20 Paper Money Whole No. 139 Railroad Notes and Scrip of the United States, the Confederate States and Canada by RICHARD T. HOOBER (Continued from PM No. 137, Page 153) SOUTH CAROLINA CHARLESTON—CHARLESTON & SAVANNAH RAILROAD COMPANY In 1869 the road ran a passenger train from Charleston to Coosawhatchie on Monday, Wednesday and Friday; it returned Thursday, Saturday and Tuesday, a distance of 62 miles. It became part of the Seaboard Coast Line. 1. 50 (L) Dog's head. R7 2. 100 (L) Dog, safe. R7 3. 250 (L) Locomotive, 25 above. (R) 25. R7 4. 500 No description. Date—June 1, 1862. Imprint—None. R7 CHARLESTON—LOUISVILLE, CINCINNATI & CHARLESTON RAILROAD COMPANY The railroad was organized in the early 1830's, and incorporated in 1843. It was to run from Charleston to Cincinnati, and Louisville, along the Ohio River. A total distance of 607 miles was constructed. 5. 1.25 (L) Female, eagle and shield. (R) Train. R7 6. 1.75 Similar to No. 5, except denomination. R7 7. 5.00 Similar to No. 5, except denomination. R7 8. 500.00 (L) Female. (C) Railroad company seal, between D's. R7 9. 1000.00 No description. Date—Unknown. Imprint— Durand & Compy. New York. R7 CHARLESTON—OFFICE OF THE SOUTH CAROLINA RAILROAD 10. 1.00 (L) Indian woman, ONE above and below. (C) Train, between ls. (R) ONE. RI 11. 1.00 (L) Locomotive, ONE above and below. (C) Woman, train, buildings, between Is. RI 12. 2.00 (L) Woman, TWO above and below. (C) Train, between 2s. (R) TWO. RI 13. 3.00 (L) Woman, 3 above and below. (C) Wharf scene, train, between 3s. (R) THREE. Date—April 1, 1870, part ink. Imprint—American Bank Note Co. New York. R2 4f--( sot rill (AI1 vi I )-S*4 7/2; //// / / ;(// ///7 i ///// //// ////////% (//////://// % ///2 % /7/47A% Paper Money Whole No. 139 Page 21 South Carolina No. 13 CHARLESTON—SOUTH CAROLINA RAILROAD COMPANY The road was chartered December 19, 1827, as the Charleston & Hamburg Railroad, and the main line from Charleston to Augusta, Georgia, was opened November 1, 1840, a distance of 137 miles, as was the run from Branchville to Columbia. In 1844 the several lines were consolidated as the South Carolina Railroad. The road was the pioneer railroad of the South. It owned and operated the first and second locomotives to be placed in service on any American road. The first, "Best Friend of Charleston," was placed in operation December 25, 1830, and the second, "West Point," on July 15, 1831. Both were built at the West Point Foundry, New York. Due to the heavy damages incurred during the Civil War, and other liabilities, the road was placed in receivership in 1878, and sold at foreclosure July 28, 1881. It was reorganized November 1, 1881 as the South Carolina Railway. It was again reorganized as the South Carolina & Georgia Railroad in 1894, and later became part of the Southern Railway. 14. 500 (C) Train, between 50s. Red and black print. R6 15. 1.00 (L) Locomotive. (C) I. (R) Female, ONE on 1 above. Black and green print. Green re- verse. RI 16. 2.00 (C) Men loading bales onto wagon. RI 17. 5.00 (L) 5. (C) Locomotive. (R) 5. RI 18. 10.00 (L) Palm tree, 10 above and below. (C) Two women, bale. (R) Two workmen, 10 above and below. Tan lathework. R5 Page 22 Paper Money Whole No. 139 19. 20.00 (L) Loaded cart, horses, 20 above. (C) 20. (R) Men loading wagon, horses, 20 above. Tan lathework. R5 20. 50.00 No description. R7 21. 100.00 No description. Date—July 1, 1873. Imprint —American Bank Note Co., New York. R7 CHARLESTON — SOUTH WESTERN RAILROAD BANK 22. 5.00 (L) State seal, 5, two men. (C) Locomotive between 5s. (R) North Carolina and Ten- nessee seals. Orange lathework. R4 23. 10.00 (L) South Carolina and Kentucky seals. (C) Locomotive, between 10s. (R) North Carolina and Tennessee seals. Tan and black print. R4 South Carolina No. 24 24. 20.00 (L) 20, South Carolina seal above, two men below. (C) Ships in harbor, between 20s. (R) 20, North Carolina seal above, Tennessee seal below. Black and brown print. R5 25. 20.00 (L) Washington. (C) Female. (R) Medallion head. Black and brown print. R5 26. 50.00 (L) South Carolina and Kentucky seals. (C) Ships in harbor. (R) North Carolina and Tennessee seals. Black and brown print. R5 27. 100.00 (L) South Carolina and Kentucky seals. (C) Ships in harbor. (R) North Carolina and Tennessee seals. Black and brown print. R6 28. 100.00 (L) Medallion head. (C) Train. (R) Female. Black and brown print. Date— August 1, 1859, part ink. Imprint — Draper, Toppan, Longacre & Co. Phila. & New York. Toppan, Carpenter & Co. Phila. R7 COLUMBIA — CHARLOTTE, COLUMBIA & AUGUSTA RAILROAD COMPANY The railroad was formed by the consolidation on July 9, 1869, of the Columbia & Augusta and the Charlotte & South Carolina railroads. The latter was chartered December 18, 1846, and opened October 2, 1852. The C. & A. opened from Graniteville, Georgia, in 1868, and to Augusta in 1870. The C.C.&A. ran from Charlotte, North Carolina, to Augusta, Georgia, a distance of 195 miles. The road was purchased at foreclosure July 10, 1894, by the Southern Railway. ///// )7' ,111 Paper Money Whole No. 139 Page 23 29. 1 Fare (C) Train. R6 30. 2 Fare (L) Train. (C) Dog's head, between 2s. (R) Train. R6 31. 5 Fare (L) FIVE above and below. (C) Train, between 5s (R) FIVE above and below. R6 32. 10 Fare (C) Locomotive. Date—Oct. 1, 1873. Imprint—American Bank Note Co. N.Y. R7 South Carolina No. 30 COLUMBIA — GREENVILLE AND COLUMBIA RAILROAD COMPANY The railroad was chartered in December, 1846. 33. 50C (L) FIFTY CENTS across end. (C) Name, arm and hammer upper left. (R) Woman, 50 CENTS above. R7 34. 5(K No description. R7 35. 1.00 No description. R7 36. 2.00 (L) Boy, TWO below. (C) Justice seated. (R) Jefferson, 2 above and below. Date—March 15, 1864. Imprint —Keatinge and Ball. R7 SP ARTAN BURG — SP ART ANBURG & UNION RAILROAD 37. 50C (L) FIFTY CENTS. (R) 50 on shield. Date—Unknown. Imprint —Unknown. R7 YORKVILLE — KINGS MOUNTAIN RAILROAD The railroad was built to connect Yorkville and Chester, a total length of 21 miles. It later beCame part of the Carolina & Northwestern Railway. 38. 1.00 (L) Female, ONE DOLLAR below. (C) Female seated. (R) State seal, ONE above. R7 (To be continued) Interest Bearing Notes Roger HDurand as Page 24 THE 3rd NATIONAL AND WORLD PAPER MONEY CONVENTION This show in St. Louis was once again one the highlights of the syngraphic year. It was well attended and everyone seemed sat- isfied with the available material. The exhibits were outstanding. They were an education in themselves. Our SPMC meeting was well attended as were all our meetings this year. Our guest speaker, Steve Feller, gave an interesting presentation on nu- mismatic holography. He even gave a demonstration with a laser on how this type of printing is accomplished. The members and guests in attendance were impressed to say the least. It real- ly seems that collecting paper money is being enjoyed by more and more collectors. PAPER MONEY MAGAZINES Many of our new members contact the publisher for past issues of PAPER MONEY, our magazine. Back issues are in short sup- ply and many are not available at all. If anyone has any back is- sues of our magazine that they are not using or have extra cop- ies, the Society would appreciate it if they would donate them back to us for resale. This gesture would benefit the new mem- bers and the Society would benefit by the additional revenue. Please send these magazines to our book sales coordinator: RICHARD J. BALBATON P.O. BOX 911 NORTH ATTLEBORO. MASS. 02761-0911 Call for Nominations for 1989 Each year five members are elected to three-year terms on the SPMC Board of Governors. The following governors' terms ex- pire in 1989: Charles Colver, Tom Denly, Roger Durand, Dean Oakes and Wendell Wolka. A nominating committee has been established, and if you have any suggestions for candidates, please contact the chair- man. In addition, candidates may be placed on the ballot in the following manner: (1) A written nominating petition is submitted, which has been signed by ten current SPMC members; (2) An acceptance letter from the person being nominated is submitted with the petition; (3) Any nominating petitions (and accompanying letters) MUST BE RECEIVED BY THE SECRETARY BY MARCH 1, 1989. Ballots for the election will be included in the March/April 1989 issue of Paper Money. They will be counted at Memphis and announced at the SPMC general meeting held during the International Paper Money Show. Nominees should send a portrait-photo and a brief biography with their letter of acceptance. Ron Horstman, Chairman Nominating Committee, P.O. Box 6011, St. Louis, MO 63139 Paper Money Whole No. 139 NEW LITERATURE The Standard Catalog of United States Obsolete Bank Notes 1782-1866, Krause Publications, Iola, WI 54990; 1988, four volumes, 2,784 pp., 15,000 illustrations; hardcover; $195. Ten years in the making. this four-volume encyclopedia of U.S. obsolete bank note information, the publication we have been waiting for, is finally here. Jim Haxby, assisted by Barbara Ann Bellin and Walter D. Allan, makes a monumental contribu- tion to this popular collecting field. Documentation of issuers. listings that include altered, raised and counterfeit notes, hundreds of notes never before illustrat- ed, prices in two, sometimes three grades, and a variety of valu- able, miscellaneous information make the Standard Catalog of United States Obsolete Bank Notes 1782-1866 an absolute ne- cessity for anyone seriously interested in the subject. These four volumes will help expand interest for seasoned collectors, and will probably bring some new collectors into the fold. The durable, hardcover books will endure the almost con- stant use they will receive, once they are in your hands. Kudos to Jim Haxby! MEMBERSHIP DIRECTOR NEW Ronald HorstmanP.O. Box 6011St. Louis, MO 63139 MEMBERS 7700 Graham J. Ewen, 536 Essex, Weymouth, MA 02188; Early Ameri- can & world. 7701 Alexander I. Abezgauz. 60 Craigmont Ave San Francisco, CA 94116; C, Russia. 7702 Jerome Weinstein, 6640 Akers Mill Rd. 17A4, Atlanta, GA 30339; C, National currency, type notes & Colonial currency. 7703 Ralph B. Draughon Library, Acquisitions Department, Mell Street, Auburn University, AL 36849-5606. 7704 Leroy A. Pieper, 115-117 N. Main St., Bicknell, IN 47512; C&D. 7705 Hal Blount, 1452 White Cross Dr., Baton Rouge, LA 70810: C. 7706 Lester Breininger, 476 S. Church St., Robesonia, PA 19551- 9656; C. 7707 W.T. Boardman, P.O. Box 3235. Redondo Beach, CA 90277: C, Large-size national curency. 7708 Walter J. Mariani, 60 Jefferson St., Holyoke, MA 01040: D. 7709 William Banister, Lorden Drive, Milford, NH 03055; C, NH & other state obsolete notes. 7710 David A. Sayers, 13446 Lakota Rd., Apple Valley, CA 92308; C, U.S. large-size. 7711 State Library of PA. Serial Record Section, Rm. 46, Box 1601, Har- risburg, PA 17105. 7712 W. Martin Ambrose, 1732 Rosecrans Dr., Lexington, KY 40504; C, Lexington. KY bank notes. 7713 Ronald Charles Howard, 1634-A Montgomery Hwy. 191, Birming- ham, AL 35216; C&D. Confederate, national state currency & bonds. 7714 Gregory Voss, 1743 Lynkirk Ln., St. Louis, MO 63122; C&D. 7715 Steve Sehrt, 25 Oak Hill Dr., Ellisville, MO 63021; CC. 7716 Daniel R. Stadtfeld, 1505 Union St., Indianapolis, IN 46225: C. 7717 Robert M. Wolf, P.O. Box 1146, San Pedro. CA 90733-1146:C, All currency. 7718 Theodore Batcher, 718 Wilson Suite 500, North York, Ontario, M3K 1E2 Canada. 7719 Geri Lee Partin, P.O. Box 1723, Lucerne Valley. CA 92356. 7720 John T. Reynolds, 150 Denslow, Los Angeles, CA 90049; C, Large-size U.S. Paper Money Whole No. 139 Page 25 7721 Fred W. Helfst Sr., 452 Higbie Ln., West Islip, NY 11795; C, U.S. & world currency. 7722 Jay Turner. 45163 Beech Ave., Lancaster. CA 93534; C. 7723 John C. Hallam. P.O. Box 91517, Los Angeles, CA 90009; C&D, Large-size U.S. & obsolete notes. 7724 Donald J. Frendzel, Rt. 1 Box 293: Berkeley Springs, WV 25411; D. Austrian & German notgeld. 7725 Richard Lee Day, 10209 Isabel Dr., Louisville, KY 40223: C, Louisville, Ky NBN. 7726 Arnold Honi. 609 Center St. E., Roseau, MN 56751. 7727 EN 1 Jeffery M. Rose. US Naval Station Box 15, F.P.O. San Francisco, CA 96651-1015; C. US & MPC. 7728 Richard Baughman. 120 Beechwood Tr., Roswell, GA 30075; C, Colonial & GA obsolete notes. 7729 Leonard Pohutsky. 20853 Farmington Rd., Farmington Hills. MI 48024; C. 3969 Bob Cohen: C&D, Reinstatement. LM78 Armand M. Shank Jr.; Conversion to life membership from #2898. LM79 Kerry K. Wetterstrom; Conversion to life membership from #7469. LM83 Warde H. Dixon; Conversion to life membership from #7655. LM84 Gene D. Mintz, P.O. Box 555. Grover City, CA 93433: C, CSA & Southern states obsoletes. - gym mart 1••■ <•■■■■ 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) 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, Ml 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: 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 494, 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) WANTED FOR my personal collection, large and small-size national currency from Atlantic City, NJ. Don't slip, write first with what you have for sale. Frank lacovone, P.O. Box 266. Bronx, NY 10465-0266. (140) BUYING OLD BANK CHECKS, certificates of deposit, bills of ex- change, older books on Confederate or obsolete bank notes. Bob Pyne, P.O. Box 149064, Orlando. FL 32814. (145) WANTED: INVERTED BACKS FOR MY PERSONAL COLLEC- TION . Any condition: large and small-size notes. Please send photo or description with your price for the notes. Lawrence C. Feuer. c/o C &F. 200 E. Post Rd.. White Plains, NY 10601. (146) WANTED: Crisp uncirculated U.S. $1 and $2 errors, radars, some blocks and stars. Write first, describe completely! Ed Zegers, P 0. Box 9202, Washington, DC 20012-9202. (140) 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: 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) ESSAY-PROOF JOURNAL AND BANK HISTORIES WANTED: Buying single issues or complete sets of the Essay-Proof Journal and NASCA auction catalogs. Buying/trading histories of all state/national banks or of individual states. Write Michael Sullivan, P.O. Box 32131. Cincinnati, OH 45232. NEW YORK NATIONALS WANTED FOR PERSONAL COL- LECTION: TARRYTOWN 364, MOUNT VERNON 8516, MA- MARONECK 5411, Rye, Mount Kisco, Hastings, Croton on Hud- son, Pelham, Somers, Harrison. Ossining, Yonkers, White Plains, Irvington, Peekskill. Bronxville, Ardsley, Crestwood, New Rochelle. Elmsford, Scarsdale, Larchmont, Port Chester, Tuckahoe. Send photocopy: price. Frank Levitan, 530 Southern Blvd., Bronx. NY 10455, (212) 292-6803. (144) SELLING OKLAHOMA NATIONALS: Altus, Ardmore, Chandler, Chickasha, Cushing. Durant, El Reno, Enid, Guthrie, Lawton, Man- gum, McAlester, Miami, Nowata, Sapulpa, Shawnee, Tahlequah, Vinita. Other states (specify). Free lists. Joe Apelman, P.O. Box 283, Covington, LA 70434. • Credit Card No IExpires: Mo. I Signature I Mail with payment to: I Krause Publications, Catalog Order Dept. IYG700 E. State St., Iola, WI 54990 Amount for books Shipping Total amount enclosed Department IYF Monday-Friday. 8 am - 5 pm CST ) MasterCard ( ) VISA Charge Card Orders SAVE TI Use Ou ME r Toil-Free Number = 800-258-0929 1 1 Yr IYF Page 26 Paper Money Whole No. 139 • Pfease take rote, NEW! 7th I 1 IT ON 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 NIMI•11111111111MMIM111•111•11--M11■1 Yes! I want to up-date the value of my collection with the assistance of Standard Catalog of United States Paper Money Send me copies of the Standard Catalog of United States Paper Money, 7th Ed., for $19.95 plus $2.50 shipping and handling, per book. (Foreign addresses, send $4.50 for shipping and handling. Payable in U.S. funds.) Name Address City State Zip MONEY-BACK GUARANTEE 10 Day Free Return Privilege ( ) Check or money order (to Krause Publications) Mim milmmimmi momll a 1 EARLY AMERICAN 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 Paper Money Whole No. 139 Page 27 NUMISMATICS *619-273-3566 COLONIAL & CONTINENTAL CURRENCY We maintain the LARGEST ACTIVE INVENTORY IN THE WORLD! SEND US YOUR WANT LISTS. FREE PRICE LISTS AVAILABLE. SPECIALIZING IN: q Colonial Coins q Colonial Currency q Rare & Choice Type Coins q Pre-1800 Fiscal Paper q Encased Postage Stamps SERVICES: q Portfolio Development q Major Show Coverage q Auction Attendance EARLY AMERICAN NUMISMATICS c/o Dana Linen q P.O. Box 2442 q LaJolla, CA 92038 q 619-273-3566 Members: Life ANA, CSNA-EAC, SPMC, FUN, ANACS 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 ELKS LOCOS- Pleasant St.. Rt. 32 Willimantic. Conn. Marco 12, t929 9 a.m. - 5 p m. 50 Dealers Bourse 8 EAllibt1 Public invited • Free Admission C. John Ferrer, P.C. Bee 33, Storrs, CT 06258 5050 17TH ANNUAL SHOW NUMISMATIC Soc., The "biggest" !MIS coin and paper money show in New England Page 28 Paper Money Whole No. 139 40 "This is the Place" for PAPER MONEY COLLECTORS in the Northeast to get a jump on the Convention Season. Join us again this year for the largest gathering of Paper Money Dealers and Collectors in the New York/New England Area. .. FEATURING THESE LEADING PAPER MONEY DEALERS 1. "RINATS", Rhode Island National Banknotes 2. WARWICK ASSOCIATES—All U.S. Paper Money, Books, Ephemera 3. R.J. BALBATON—Large & Small U.S. Currency, Books, Coins 4. FINN & KRACOV—U.S. Obsolete, Foreign Paper Money & Coins 5. M.S. RARE COINS—U.S. Obsolete, Medals, Tokens, Political Coins 6. DEL BEAUDREAU—Chinese, Japanese, Korean Paper Money 7. DENLY'S OF BOSTON—U.S. Paper Money, Obsoletes, Fractional Notes 8. NEW ENGLAND SYNGRAPHICS—U.S. Nationals, Uncut Sheets 9. FRANK TRASK—Lg & Sm U.S. Currency, Colonials, Obsoletes 10. RaBENCO-NUMISVALU—Lg & Sm U.S. Nationals, Fractionals, Obsoletes 11. KENNEBUNK COINS & CURRENCY—Rare Paper Money, Checks, Post Cards, Ephemera 12. COLONY COIN—U.S. & Foreign Coins & Currency for collectors 13. ROBERT VLACK—Colonial & Obsolete Currency, Tokens, Foreign Coins 14. HERMAN KRAJEWSKI—Polish Coins, Foreign & U.S. Paper Money 15. BILL & MYRTLE AQUILINO—Medals, Tokens, World's Fair & Political Items 16. SILVER CITY COIN—U.S. Obsoletes, Coins & Tokens 17. MONEY MUNDUS—U.S. Lg & Sm Paper Money, Obsoletes 18. LITCHFIELD HILLS RARE COINS—U.S. & Canadian Paper Money & Coins 19. MARY SAGER—Paper Ephemera, Obsoletes 20. CHRISTIAN BLOM—U.S. Obsolete Paper Money . Plus 31 other Paper Money, Coin, Token & Ephemera Dealers .. . Sell Your Coins & Currency • rs kg To The Highest Bidder 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. tank of tomorra Ly..4.1.119Air ,... fitITITI) 'ME BARE 18E PITIT. Y1.` 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. NAscA Space will be at a premium in both catalogues which will feature FULL COLOR photography. U.S. & INTERNATIONAL CURRENCY, STOCKS & BONDS & RELATED ITEMS. Division of R.M. Smythe & Co., Inc. ,,Ga EIGHTEEN PENCE. Subscription Information: U.S. & CANADA OVERSEAS One Year 1Wo 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 $85 $150 $195 26 Broadway New York, NY 10004 NY residents Toll-Free 800-622-1880 call 212-943-1880 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 4,4113WilliMAISANKOKANADA '431 TOR IIIKA.M0 N1141,11!, 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 Paper Money Whole No. 139 Page 29 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' 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 -;00010040,1: eXVINk;:4 FUT-DX/ THE BANKOF ST LOUIS ST. LOUIS, MISSOURI OBSOLETES AND NATIONALS WANTED RONALD HORSTMAN P.O. BOX 6011 ST. LOUIS, MISSOURI 63139 dEalIZEZILLECEilla mirytvorkroxot, 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 U.S. Encased Postage All Military Currency Souvenir Cards U.S. Fractional Currency National Bank Notes Colonial Currency 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 BUYING PAPER MONEY Nationals, Errors, Type Notes, Stars, Number 1 & 2 Notes, Radars, Solid Num- bers, Ladders. Ship with confidence or write for our offer. We pay more for quality unmolest- ed material. ROBERT and DIANA AZPIAZU P.O. Box 1565 St. Augustine, FL 32085-1565 (904) 797-8622 .1ETN IA %MIN 1),1■1 rt - mns Page 30 Paper Money Whole No. 139 IAN A. MARSHALL P.O. Box 1075 Adelaide St. P.O. Toronto, Ontario Canada, M5C 2K5 WORLD PAPER MONEY Also World Stocks, Bonds and Cheques 416-365-1619 Paper Money Whole No. 139 Page 31 Life Member lati1}.71 sawn' mniivavn About Denominations By roger g-i. 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 tan voivirk?).91Aiigfooloilopi, P99999999 A P99999999 A Desirjuvieir,‘°Ir,,,staiwaiitv #11111111 thru 99999999 and #00000001 WANTED 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 1-800-727-8288 ext. 178 M-F 218-724-8433 evenings/weekends 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 011141 SHOP COIN INCEST 1960 414112494KSHirbi" SEND FOR OUR COMPLETE PRICE LIST FREE 399 S State Street - Westerville, OH 43081 1-614-882-3937 1-800-848-3966 outside Ohio BUYING / USELLING. EECURRENCY, NATIONALS•UNCUT SHTS, PROOFS, SCRIP BARRY WEXLER, Pres. Member: SPMC, PCDA, ANA, FUN, GENA, ASCC (914) 352.9077 UMIS11-41LITE I N C P.O. BOX 84 • NANUET, N.Y 10954 aris drain papa 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 Read Money Mart PAPER MONEY UNITED STATES Large Size Currency • Small Size Currency Fractional Currency • Souvenir Cards Write For List Theodore Kemm 915 West End Avenue q New York, NY 10025 Page 32 Paper Money Whole No. 139 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 RESEARCH INQUIRIES COUNSELING SERVICES BROKERAGE & COMMISSION SALES APPRAISALS MADE MOREY PERLMUTTER HISTORIAN — ANTIQUARIAN U.S. LARGE SIZE PAPER MONEY (1861-1923); U.S. MINT ISSUE & TERRITORIAL GOLD (1795-1933); WESTERN COVERS, INDIAN ARTIFACTS, ANTIQUE FIREARMS, BOWIE KNIVES, DOCUMENTS, PHOTOS, AUTOGRAPHS, BADGES, LEATHER, (ALL WESTERN COLLATERAL), 1848-1912 WELLS FARGO, PONY EXPRESS, GOLD RUSH MEMORABILIA. P.O. BOX 176 NEWTON CTR., MA 02159 MAIL ONLY BROKEN BANK NOTES CONFEDERATE CURRENCY • Collections Needed • Buy/Consignment • Approval Service Available— • Supply One Dealer Reference or Your S.P.M.C. Number. PRICE LIST — Enclose Large Size 25c Self-Addressed Stamped Envelope. DON EMBURY 2524 RIDGEVIEW, LOS ANGELES, CA 90041 S.P.M.C. 3791 ORDERING INSTRUCTIONS 1. Orders for currency under $250.00, $2.00 postage please. i(PACtienCord 2. All items two week return in original holders, undamaged. 3. Mass. residents must include 5% sales tax. visA• 4. Twenty-four hour answering machine when not in. Feel free to call and reserve your notes. 1111.111= 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 SCIr1 PAK Mt AIN CR MS 1st JO' I aNia -E''. LM-5773 DENLY'S OF BOSTON LM-2949 , pod itatio, PHONE: (617) 482.8477 atro•EN sina 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 finch 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 prints 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 7 95 + .75 47. OHIO - Obsolete Bank Notes of Ohio by D.C. Wismer, Durst reprint 8 95 + .75 OKLAHOMA - See #32 48. PENNSYLVANIA - Obsolete Bank Notes of Pennsylvania by Wismer, Durst reprint 11.95 + .75 49. PENNSYLVANIA Obsolete Notes and Scrip by Hoober 30.00 + 1.75 50. RHODE ISLAND - Obsolete Notes and Scrip of Rhode Island and the Pro- vidence Plantations, by Durand 20.00 + 1.50 51 SOUTH CAROLINA - South Carolina Obsolete Notes by Austin Sheeheen Jr., a hard to find super book 14.95 + 1.00 52 TENNESSEE - The History of Early Tennessee Banks by Garland 29.50 + 2.00 53. TEXAS - Obsolete Notes & Scrip by Medlar, out of print, rare . 26.00 + 1.50 54. UTAH - Mormon and Utah Coin & Currency by Rust, every note pictured with values 30.00 + 1.50 55. VERMONT - Obsolete Notes & Scrip by Colter, out of print SPECIAL 19.95 + 1.50 56. VIRGINIA - The Obsolete Paper Money of Virginia Volume I by Affleck, this book covers scrip issues Wanted 57. VIRGINIA - The Obsolete Paper Money of Virginia Volume II by Affleck, this book cover banknotes, out of print 25.00 + 2.00 60. COUNTERFEIT DETECTER - Hodge's American Bank Note Safe Guard, reprint of 1865 edition, one copy only 25.00 + 1.50 The second number after price is for postage & handling with a $5.00 maximum. IMPROVED MYLAR "D" CURRENCY HOLDERS For the last year I have sold these; they are increasingly dominating the market. These are the finest for your notes. PRICED AS FOLLOWS Size Inches 50 100 500 1000 Fractional 4-3/4 x 2-3/4 11.50 20.50 92.50 168.00 Colonial 5-1/2 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. wa ffSS I O Nk NUM ISMIITISts 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. Purveyors of National Bank Notes & U.S. Currency to the collecting fraternity for over 20 years: Nick man- Oakes Auctions inc. Wth 34 sales behind us, we look forward to a great 1988 for all currency hobbyists as well as our mail bid and floor auctions. We have had the pleasure of selling several great notes during the past year at prices for single notes above $30,000 with total sales of an auction in the $250,000 area. Currency collecting is alive and well. If you have currency, a single rarity, or an entire collection, now is the time to consign. Our sales will give you the pulse of the market. Currency collecting is alive and well. Our next auction is scheduled for June in Memphis. Our November auction will be held in St. Louis with the Pro- fessional Currency Dealers Assoc. convention. There will be hundreds of lots of U.S. and national currency. Join others in experiencing the true market between buyer and seller at a Hickman-Oakes auction. Write, or call 319-338-1144 today! As a seller: Our commission rate is 15% and down to 5% (depending on value of the lot) with no lot charge, no photo charge, in fact no other charges. As a buyer: When bidding and winning lots in our auctions you are charged a 5% buyers fee. As a subscriber you receive at least 4 auction catalogs and prices realized after the sale, plus any price lists we put out, and all by 1st class mail. If you send us $8 now, we will send you the June Memphis convention auction catalogue and prices rea- lized plus our other auction catalogues and price lists through June of 1989. Send $8.00 now, you won't be sorry. Hickman - Oakes Auctions I inc. carp unit! 101140 ,John HickmanDean Oakes ljrawer 1456 1021M City, J0W2 51240 319-338-1114