Paper Money - Vol. XXVIII, No. 2 - Whole No. 140 - March - April 1989

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VOL. XXVIII No. 2 WHOLE NO. 140 MARCH/APRIL 1989 OUR FIRST PRESIDENT UNPRECEDENTED! The ULTIMATE United States Obsolete Bank Note Reference Is Here! STANDARD CATALOG OF UNITED STATES OBSOLETE BANK NOTES 1782-1866 By James A. Haxby Four volumes, 8 1/2x11, hardbound r 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! 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. 11, 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) .Y-44Yid 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 $ soCIETY OF PAPER MONEY COLLECTORS I\( '. 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 should be sent to the Editor. Vol. XXVIII No. 2 Whole No. 140 MARCH/ APRIL 1989 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 NATIONAL BANKS CHARTERED UNDER THE ACT OF FEBRUARY 25. 1863 by Peter Huntoon and Doug Walcutt 37 GOVERNOR ORDWAY AND THE GREAT DAKOTA TRAIN ROBBERY by Steve Schroeder 43 1929-1935 NATIONAL BANK NOTE VARIETIES— SUPPLEMENT XVIII — by Tom Snyder 47 CURRENCY LABEL SETS—OLD AND NEW by Frank Clark 52 SUPPLEMENTS TO NO. 135 AND NO. 138 by Gene Hessler 55 RHODE ISLAND SMALL-SIZE NATIONAL BANK NOTES by R. J. Cormier 56 BANK HAPPENINGS — by Bob Cochran 58 AIR FORCE HERO COMMEMORATED ON A BANKNOTE by Lee Poleske 59 THE GREEN GOODS GAME — by Forrest Daniel 60 RAILROAD NOTES & SCRIP OF THE UNITED STATES, THE CONFEDERATE STATES AND CANADA by Richard T. Hoober 61 SOCIETY FEATURES CANDIDATES FOR SPMC BOARD 64 NEW MEMBERS 65 MONEY MART 66 ON THE COVER: George Washington is commemorated on a souvenir card. See p. 55. 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. Paper Money Whole No. 140 Page 33 Society of Paper Money Collectors OFFICERS PRESIDENT Roger Fl. 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 Walter Fortner, P.O. Box 152. Terre Haute, IN 47808-0152. PAST-PRESIDENT Larry Adams, P.O. Box 1, Boone, IA 50036 BOARD OF GOVERNORS Nelson Page Aspen. Richard J. Balbaton, Charles Colver, Michael Crabb, C. John Ferreri, Milton R. Friedberg, Gene Hessler, Ronald Horstman, William Horton, Jr., Robert R. Moon, Dean Oakes, Austin M. Sheheen. Stephen Taylor. Frank Trask, 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 magazines 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: ALABAMA OBSOLETE NOTES & SCRIP. 1984 Rosene $12.00 Non-member price $15.00 ARKANSAS OBSOLETE NOTES & SCRIP, 1985 Rothert $17.00 Non-member price $22.00 FLORIDA PAPER MONEY. ILLUSTRATED HISTORY OF, (softcover) 1980 Cassidy $16.00 Non-member price $19.50 INDIANA OBSOLETE NOTES & SCRIP, 1978 Wolka $12.00 Non-member price $15.00 INDIAN TERRITORY/OKLAHOMA/KANSAS OBSOLETE NOTES & SCRIP, 1980 Burgett and Whitfield $12.00 Non-member price $15.00 IOWA OBSOLETE NOTES & SCRIP, 1982 Oakes $12.00 Non-member price $15.00 MAINE OBSOLETE PAPER MONEY & SCRIP, 1977 Wait $12.00 Non-member price $15.00 MINNESOTA OBSOLETE NOTES & SCRIP, 1973 Rockholt $12.00 Non-member price $15.00 NEW JERSEY'S MONEY. 1976 Wait $15.00 Non-member price $20.00PENNSYLVANIA OBSOLETE NOTES AND SCRIP (396 pages), Hoober $28.00 Non-member price RHODE ISLAND AND THE PROVIDENCE PLANT$A29- $29.50 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 Non-member price $$1152.0000 VERMONT OBSOLETE NOTES & SCRIP, 1972 Coulter $12.00 Non-member price $15.00 All cloth bound books are 81/2 x 11" Write for Quantity Prices on the above books. ORDERING INSTRUCTIONS 1. Give complete description for all items ordered. 2. Total the cost of all publications ordered. 3. ALL publications are postpaid except orders for less than 5 copies of Paper Money. 4. Enclose payment (U.S. funds only) with all orders. Make your check or money order payable to: Society of Paper Money Collectors. 5. Remember to include your ZIP CODE. 6. Allow up to six weeks for delivery. We have no control of your package after we place it in the mails. Order from: R.J. Balbaton, SPMC Book Sales Dept., P.O. Box 911, N. Attleboro, MA 02761-0911 Library Services: The Society maintains a lending library for the use of the members only. For further information, write the Librarian-Walter Fortner, P.O. Box 152, Terre Haute, IN 47808-0152. Page 34 Paper Money Whole No. 140 U.S. PAPER MONEY COLLECTORS! Bank Note Reporter is for you! on _RTERs-.....01.11FETKACI ■11.1.0iN MOW Unknown 19..29 Naptiagonalse 20 listed ........ U.S. Paper Money Collectors! Get more news of your particular collecting interest, every month, in Bank Note Reporter. Bank Note Reporter is the only independently produced publication that blankets the entire paper money spectrum. You'll get all the news you need. And, you'll find it a convenient way to keep current on r Mail to: Bank Note Reporter Circulation Dept. 700 E. State St., Iola, WI 54990 Enter my Bank Note Reporter subscription as follows: ) New ) Renewal/Extension (attach your mailing label) ) 1/2 year (6 issues) $10.95 Foreign addresses send $15.95. Payable in U.S. funds ) Send me a free sample issue (U.S. addresses only) ) Check or money order (to Bank Note Reporter) U.S. and world notes, plus all other related fiscal paper. Bank Note Reporter is your one-stop paper money information source. Make sure you're in the know, by entering your subscription now. Take advantage of our special half-year offer. Or request a free sample issue (U.S. addresses only). Name Address City State _Zip ( ) MasterCard/VISA Credit Card No Expires: Mo. Yr Signature Note: Charge orders will be billed as Krause Publications. —4 BVY Paper Money Whole No. 140 Page 35 to 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 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 Page 36 Paper Money Whole No. 140 , ,,,,,„ 0,,,„; EARLY4, ,,.,•,kk, AMERICAN_. f\ .3 , NUMISMATICS -4,,,,,,,, ,,- *619-273-3566 COLONIAL & CONTINENTAL CURRENCY SPECIALIZING IN: SERVICES: q Colonial Coins q Portfolio q Colonial Currency Development q Rare & Choice Type q Major Show q EARLY Coins Coverage q Pre-1800 Fiscal Paper q Auction We maintain the LARGEST ACTIVE INVENTORY IN THE WORLD! SEND US YOUR WANT LISTS. FREE PRICE LISTS AVAILABLE. AMERICAN NUMISMATICS c/o Dana Linett q Encased Postage Stamps Attendance ■ P.O. Box 2442 ■ LaJolla, CA 92038 ■ 619-273-3566 Members: Life ANA, CSNA-EAC, SPMC, FUN, ANACS 60 103731fig":-"Cik-I eittatieoirawiztein_ , up. 41,Luardix-444 4 ACK,Ilt >fauti R. So s . sir_t/it llworiNestlere tro,i)crittould WE , 74.4,0114- 7 ELL25.11148: Paper Money Whole No. 140 Page 37 NATIONAL BANKS CHARTERED UNDER THE ACT OF FEBRUARY 25, 1863 by PETER HUNTOON and DOUG WALCUTT ABSTRACT A total of 488 banks were organized under the provisions of the original National Bank Act of February 25, 1863. These earliest national banks are distinguished from banks organized later under the Act of June 3. 1864 in that their corporate lives had to expire before February 25, 1883. Consequently they had initial corporate lives of less than 20 years in contrast to full 20-year lives granted to Act of 1864 banks. ACT OF 1863 BANKS A CCORDING TO THE COMPTROLLER of the Currency (1901, p. xxiv), a total of 488 national banks were organized under the Act of February 25, 1863. We have identified 489 such banks from duplicate copies of their articles of associa- tion (Comptroller of the Currency, undated), specifically charters 1-473, 477, 479, 482, 485, 487-489, 491-494, 500, 502, 521, 548. and 555. The intervening charter numbers be- tween 473 and 555 belong to banks organized under the Act of June 3, 1864, which happened to receive their charters before the last of the Act of 1863 chartered banks. The First National Bank of Fond Du Lac, Wisconsin, charter 555, bears the highest charter number assigned to an Act of 1863 bank. Providing the comptroller's 488 total is correct, one of the higher charters in this list is an 1864 bank for which the wrong act date is recorded in the duplicate articles of association. The Act of June 3. 1864, changed the succession require- ment to a full 20 years commencing from the date of organiza- tion of the bank. Notice, however, that all national banks organ- ized between February 25, 1863, and June 2, 1864, were al- ready locked into the requirement to expire by February 25, 1883. How they chose to do this was up to them, but their form- ulas had to be specified in article 7 of their articles of association at the time they were organized. Two dominate patterns devel- oped along with a few exotics. FEBRUARY 24, 1883 EXPIRATIONS The most common means for complying with the expiration re- quirement was to allow the bank to exist for the maximum life possible. Two common forms for article 7 accomplished this ob- jective (Comptroller of the Currency, undated). The First National Bank of Syracuse, NY (6) was an 1863 bank for which February 24, 1883, was chosen as its expiration date. By then the Act of July 12. 1882, allowing for extensions had passed, so the bank was extended and continued in business with charter number 6. Notice the 1863 act date in the lower margin. EXPIRATION PROVISIONS Section 11 of the National Bank Act of February 25, 1863, specified that each bank "shall have succession by the name designated in its articles of association for the period limited therein, not, however, exceeding twenty years from the passage of this act." This provision simply required the banks organized under it to expire by February 25, 1883. Consequently they had corporate lives that were less than 20 years (Huntoon, 1986b). This association shall continue for the period of twenty years from the 25th day of February 1863, unless soon- er dissolved by the act of a majority of the stockholders thereof (First National Bank of the City of New York, New York, charter 29. July 9, 1863). This asssociation shall continue until the 25th of February 1883, unless sooner dissolved by the act of a majority of the stockholders thereof (First National Bank of Seneca Falls, New York, charter 102, September 14, 1863). NationatiCtarrenow •SECURES IMMITEIMATES SUDS ON OTHER SEMITIES • UNITED STATES OFAMERICA H6182661:1 11...JYr 4,),Lup 4-tee vi4se#&. • ,a14111111113M *MIN MOIR H414469H THE / Nik Wifg°('1 ?.1 pustWitititiris -4:4F.,4L4-'-ilY4 -1414.1.1.14:1LULLIIII.L44-14:14.=140 Komm/refil4 culaqjo/ey.41 ;./ ,E3micomm, ,urrnemn. mew grass norms 11[1:11.1.11181T13111£11iCASIICEROF 011 11..r.-Witit M ..,rte 20 Page 38 Notice in each case that the bank would be finished on February 25, 1883. In the vast majority of cases, the Comptroller of the Currency interpreted these article 7s to require the banks to ex- pire at the close of business on February 24, 1883. The mandated extinctions ultimately did not have to take place because the Act of July 12, 1882 provided for a twenty- year extension of corporate life should the banks wish to apply for it. The result is that numerous banks in this group have Feb- ruary 25th extension dates, although a small minority have Feb- ruary 26th extension dates. NINETEEN YEAR BANKS One easy method for dealing with the expiration requirement for banks organized before February 25, 1864, was to provide the bank with a 19-year life timed from its date of organization. The date of organization is defined as the date when the last of the signatures of the incorporators was applied to the organiza- tion certificate, a standard form submitted along with the articles of association during the process of applying for a charter. The 19-year life conveniently complied with the provision of section 11 for banks organized before February 25, 1864. Ninety-eight banks used the 19-year formula, of which 21 suf- fered the most dire of consequences (Comptroller of the Cur- rency, 1901, p. xxiv). Here is typical language, an example taken from article 7 of the articles of association for our number one bank (Comptroller of the Currency, undated). Paper Money Whole No. 140 This association shall continue for the period of nineteen years unless sooner dissolved by the act of a majority of the stockholders thereof (First National Bank of Philadel- phia, Pennsylvania, charter 1, May 29, 1863). The Philadelphia articles of association were dated May 29, 1863, and its organization certificate was dated June 11, 1863. Notice that the bank had no choice but to expire at the close of business on June 10, 1882. It did just that because the Act of July 12, 1882, was not passed in time to save it. The only option for survival of banks caught in this bind was to liquidate and reorganize under entirely new charters. The First National Bank of Philadelphia was reorganized under the same title, but a new charter number, 2731, which carried an organization date of June 10, 1882, the same day that charter 1 was liquidated. In the eyes of the law, the first 19 years of the life of the bank were thrown away, an issue that caused consterna- tion in an industry that prides itself on roots. OTHER EXPIRATION FORMULAS Other formulas were certainly used to comply with the expira- tion provision of the Act of February 25, 1863. For example a bank could simply pick any expiration date prior to February 25, 1883. One bank that did so was The First National Bank of Pon- tiac, Michigan (434), which chose January 1, 1882 as its expira- tion date. It went into voluntary liquidation December 31, 1881, and was succeeded by a bank with the same title but charter The Third National Bank (20) was a 19-year bank that lost its life in 1882, and reorganized under charter 2730. This bank merged with The Fifth National Bank (2798) in 1908, and became the Fifth-Third National Bank (2798). On March 5, 1913, following a special act of Congress, the Comptroller of the Currency reassigned charter number 20 to the bank. A0.+:.37-4L awe Vary= Tit IS "2.111—...,S Arr )itj110846 . • 4 r " lioNDS:"/ (1));POSITP0 f r C.-4) a 4 SECON1:4 Frew E r UTIFITET4 SIPA'rES 266E1 Afsti6=gunw ,R448298 IMO 1-100t — ,11 W XUalm"."011 .11.AxA.Aa; 1 / OAM*11 /Yoi . 4.4:44),40/46f, 29,11744: Paper Money Whole No. 140 2607. The new bank received its charter January 3, 1882, and was one of only eight banks reorganized under a new charter to receive Series of 1875 notes (Huntoon, 1986a, p. 102). An historic footnote to the interplay between the expiration requirements for the Act of February 25, 1863, and the begin- Page 39 ning of the organization of banks on June 10. 1864 under the Act of June 3, 1864, is that no banks were in existence that could be extended during the period February 26, 1883 and June 9, 1884, a span of over 15 months. The Second National Bank of the City of New York (62) was a 19-year bank that was forced to liquidate in April 1882 because the Act of July 12, 1882, was not passed in time to allow for an extension of its charter. The bank re- organized under charter 2668 in 1882. Charter number 62 was reassigned to it on July 13, 1911. 1.2. ) 929 8r - BONDS °°, „ - 1:2t9i.07 1 WM , Por \ Ake Neil VVOU"OtAWNINA, )011 • %;k1 }MOW WePR gfir ,K1' 442.94A" unMIX1""TIW."-C:•1414; ; WARE_ „ars ,;\ Or/. . „E.° 12,r 2:4 • VECI- JP eeEel g • top:rosIrEla ,•••- ./X1 .,t7;47,;.•4',71) N 14, -f-jr S 1"Jr. 7e= Sin- hdf/ ;YIP 7-••<•ei It.• Page 40 Paper Money Whole No. 140 The first bank organized under the Act of June 3, 1864, was the Merchants National Bank of Boston (475), an event that took place on June 10, 1864. FIRST ACT OF 1864 BANK The first bank organized under the Act of June 3. 1864, was The Merchants National Bank of Boston, Massachusetts (475), which was organized June 10, 1864 (Comptroller of the Cur- rency. 1882, p. xii). The lowest charter number assigned under the 1864 act was 474, granted to The First National Bank of Greenfield, Massachusetts. The Greenfield bank was organized on June 23, 1864, 13 days later than The Merchant's National Bank of Boston. However, they were both chartered on July 2, 1864. The paperwork for the Greenfield bank superseded that for the Boston bank so it got the lower charter number. The First National Bank of Sing Sing, NY (471) was among the last of the 1863 banks. Notice that an Act of June 3. 1864, $5 face plate was prepared for it in error. (Photo courtesy of Frank Levitan) The First National Bank of Delhi, NY (94) was organized under the Act of February 25, 1863. The bank moved to Port Jervis in 1871, and its new plate carried the Act of June 3. 1864 date in error. - „isirctwaxitvisr a I l-4111- 117Fii sEcria- K95916cht,oo, - no D1 or ,V, .vvvva -ittarT3T611AliPiz"7.1. 5 Ait;=;;;;;;;;;;ZEITZsa:432a21 1,V SIVE (1)1iPOSIMIA iwg It It..74, itS" Paper Money Whole No. 140 Page 41 The Second National Bank of Havana, NY (343) was an Act of 1863 bank. When its title was changed to The Havana National Bank in 1874. the original $5 face plate was altered to show the new title, 1874 plate date, and current treasury signatures. Because the original plate was altered instead of a new plate being made, the correct Act of February 25, 1863 date was preserved in the lower margin. This note is from the last sheet of Series of 1875 $5s issued to the bank. ACT OF 1863 $5 PLATES The short working life of the Act of February 25, 1863 gave rise to an interesting variety on Original Series and Series of 1875 $5 face plates. Banks organized under the 1863 act should bear the language "Act Approved February 25, 1863" along the bot- tom margin. Such Act of 1863 face plates were used according- ly throughout the Original Series and Series of 1875 issuances. Doug Walcutt, coauthor of this article, discovered an import- ant error in act dating on the $5 Series of 1875 note from The First National Bank of Sing Sing, New York (471) shown here. Notice that the note bears an act date of June 3, 1864 on its face. The bank was one of the last of the Act of 1863 banks and should utilize an Act of 1863 face. We subsequently discovered that the $5 plate for Fond du Lac, Wisconsin (555) also reads Act of June 3, 1864. It appears that once the Act of 1864 was passed, many, if not all, of the last of the Act of 1863 banks, which were either chartered after June 3, 1864 or which ordered 5-5-5-5 plates after June 3, 1864, ended up with 1864 plates. This represents an interesting and ultimately rather signif- icant• technical error. Some other 1863 banks ended up with 1864 $5 faces through title changes. One example is the $5 Original Series note from The First National Bank of Port Jervis, New York (94) shown here. This bank was organized under the Act of 1863 as The First National Bank of Delhi, New York, but received print- ings from the 1864, 5-5-5-5 Port Jervis face as a result of a move that took place in 1871. The backs of $5 Original Series and Series of 1875 notes also carry the act date as part of the counterfeit clause. Consequently there are both Act of February 25, 1863 and Act of June 3, 1864 back plate varieties. It appears that attempts were made to match 1863 faces with 1863 backs through the early 1870s. However 1863 faces are always mated with 1864 backs from later printings. Consequently, all Series 1875 faces are appar- ently mated with 1864 backs. Such mixing of 1863 faces and 1864 backs does not constitute a technical mismatching of au- thorities between the two acts. Once the 1864 act was passed, its counterfeit provisions took primacy over those in the 1863 act even if the language was the same. We are not aware of any 1864 faces mated with 1863 backs. REASSIGNED CHARTER NUMBERS Seventy-seven active Act of 1863 banks lost their early charter numbers during the 1882 reorganizations. It is obvious that they felt victimized and lobbied for reinstatement of their early pres- tigious numbers because provisions eventually were made by the comptroller to allow them to reuse these numbers. In all, 29 banks took advantage of the procedure, two in 1902, and the rest during the period of 1909 to 1917. All they got were their old charter numbers. The organization and charter dates at- tached to the old numbers were the 1882 dates associated with the reorganized banks, not the 1863 dates for the predecessors. In essence, retrieval of the low charter numbers was a cosmet- ic solution. Recovered early charter numbers included 1, 2, 3, 5, 7, 8, 11, 15, 17, 18, 19, 20, 25, 30, 32, 42, 43, 46, 47, 48, 51, 59, 62, 64, 66, 70, 77, 117, and 153. These numbers were used for the first time in over twenty years on Series of 1902 plates. They replace charter numbers in the 2600 to 2800 range Notice that the act date on the lower right of this back is February 25, 1863. These backs were matched with 1863 faces on Original Series notes into the early 1870s. ail** t• WU"' 147404134 WigiNgalaVlevap, A A 77 six " igg t , it 414(Ce:,;'.e 7free.," /Aibort44 M. X : 2'21,12 2A 2,22 12: 0114/41 /413_ vas Nom r • ..sacr,RE.11.73,3, 6201 ' BoNDso, q oxiiPoSmeo.',— plitv114442.011.11=111.15tt /Val 40A.... 2101:41.1 o otv1)ematut‘ re'iff`ED-PiNE 3,,stt, Page 42 Paper Money Whole No. 140 The First National Bank of Rondout. NY (34) was the first of the 1863 banks to liquidate (on October 30. 1880) and reorganize under a new charter (2493). This bank didn't bother to recover its original charter number. which had been used on the Series of 1882 issues for the reor- ganized banks. In all cases except charters 1 and 48, it is possible to find both the original and reorganized charter numbers on Series of 1902 notes for the same bank. In the cases of charters 1 and 48, the numbers were reassigned to the banks simulta- neously with the extensions of their charters in 1902, conse- quently no Series of 1902 notes issued by them bear their re- organized numbers. CONCLUSIONS The provisions of Section 11 of the Act of February 25, 1863, requiring the expiration of charters before February 25, 1883, resulted in corporate lives of less than 20 years for the 488 banks organized under it. The Comptroller of the Currency (1901, p. xxiv) presented the following statistics for the Act of 1863 banks. Ninety-eight of these banks chose corporate lives of 19 years to comply with section 11. Twenty-one of the Act of 1863 banks expired by limitation before the Act of July 12, 1882 providing for extensions was passed. Of these, 17 reorganized under the same or different titles. Another 60 banks facing expiring charters and unsure of the passage of the Act of 1882, voluntar- ily liquidated and reorganized under new charters. The 77 banks that reorganized used the Act of June 3, 1864 to do so, and obtained new charters in the 2600 to 2800 range. In the process they lost their low charter numbers. The reorgan- ized successor banks were treated under the law as entirely separate entities with 1882 organization and charter dates even though the management and titles were identical. REFERENCES CITED Comptroller of the Currency. (1882). Annual Report of the Comptrol- ler of the Currency to the Second Session of the Forty-Seventh Con- gress of the United States: Government Printing Office, Washington, DC, 785 p. Comptroller of the Currency. (1901). Annual Report of the Comptroler of the Currency to the First Session of the Fifty-Seventh Congress of the United States: Government Printing Office, Washington. DC, 818 p. Comptroller of the Currenty, undated, Duplicate copies of article of as- sociation for National Banks: U.S. National Archives, Washington, DC. Huntoon, P. (1986a). The relationship between national bank notes and corporate extensions and reorganizations of national banks: PAPER MONEY, v. 25, pp. 97-118, 131. Huntoon, P. (1986b). Nineteen year banks and the National Bank Act of February 25. 1863; PAPER MONEY, v. 25, pp. 163-165. Paper Money Whole No. 140 Page 43 Governor Ordway and thereat Dakota Train Robbery by STEVE SCHROEDER The Medlar collection sold by Hickman and Oakes at Memphis in 1987 contained many rare and beautiful na- tional bank notes. There was one note in the collection that was of particular interest to the student of Dakota his- tory. This was lot number 860, which was described as follows: 860. $5 1882BB The Capital NB of Bismarck, Terr. of Dakota 2986 AF Rarity 6. From the Medlar collection. A note of exceptional rarity and merit. Serial number 1, with an ideal bank title for what became the capital of North Dakota. Of the known 32 Dakota Territorial notes only 5 are from the North Dakota portion and of those, this is the only five dollar brown back. There are 3 paper breaks at fold points. Attractive brown pen sigs of E.H. Wilson and N.G. Ondway. A note unique in so many ways will forever be a treasured posses- sion. What a note! But to add to this, the president's signature is Ordway, not Ondway. Nehemiah G. Ordway was the territorial governor when the note was issued. This fact and the title of the bank lead to a fascinating story. T HERE have been stories about outlaws who robbed trains,and even some attempts to connect specific notes withthose rascals. This note is signed by a man thought to be a scoundrel, by many of his contemporaries, who used a train to "steal" the territorial capital of Dakota Territory. This happened in 1883, when the capital was moved from Yankton to Bis- marck. This five dollar bill, dated June 23, 1883 and signed by Governor Ordway, is an historic scrap of evidence of the conflict of interest behind the 1883 capital removal effort. Nehemiah G. Ordway was born at Warner, Merrimac Coun- ty, New Hampshire, on November 10, 1828. He attended school at Bradford, New Hampshire. In 1847 he went to work in business and banking. In June 1855 Ordway was elected ser- geant-at-arms of the New Hampshire legislature, and during the next few years he held several local political offices, including that of sheriff of Merrimac County. During the 1860 presidential campaign he was chairman of the Republican state committee. He was appointed special postal agent in charge of the six New England states. In 1861 he was commissioned a colonel with the duty of forwarding newly recruited regiments to the front. In 1863 Ordway was elected sergeant-at-arms for the thirty-eighth Congress. He held this office for twelve years, developing politi- cal allies in Washington. During these years he also supervised the construction of a new central market in Washington, at a cost of over $1,000,000. During these years he acquired sub- stantial real estate in downtown Washington. In 1875 Ordway returned to New Hampshire. That fall he was elected to the state legislature and in 1878 was elected to the state senate. Nehemiah G. Ordway, I&90-1884 In May 1880 President Hayes appointed Nehemiah G. Ord- way to serve as governor of Dakota Territory. Initially Governor Ordway tried to form an alliance with the territorial delegate to Congress, R.F. Pettigrew of Sioux Falls, with the understanding that each would guarantee the election of the other to the U.S. Senate when statehood came. The Senate was Governor Ord- way's life ambition, and when Pettigrew rejected his offer he had to find another way to get there. Moving the territorial capital from Yankton to Bismarck was partly motivated by this ambition. Governor Ordway was a tall, distinguished looking man whose pious manners deceived the Yankton oligarchy. He quietly built a political machine. He brought in allies from the East and found help in Bismarck in Alexander McKenzie, the sheriff of Burleigh County and agent for the Northern Pacific railroad. Ordway's son, George, was the principal agent for the Chicago and Northwestern Railroad at Pierre, giving him critical railroad support at the start. As territorial governor, Ordway used patronage to create allies. He quietly built a strong base of support among the territorial press by the way he handled the territory's printing business. In his study of the political history of Dakota Territory, H .R. Lamar described the process as a simple one. There were dozens of newspapers in the territory. Many of these depended on legal notices for a large part of their revenue. Ordway doled out the patronage carefully and organized what looked like an innocent "press association." By using the print- ing patronage as a weapon, Ordway kept the most vocal group of public opinion makers on his side (Lamar, 217-218). In 1883 the Yankton oligarchy was shocked to learn that one third of the -F-7----23Sefflaci Wore 1660 Se++ led 1860 -1870 Settled 1870 -1880 Sei-fled 1880 -1890 of semi - aridity SMV*9: Page 44 members of the territorial Council were newspaper editors who had received some form of patronage from Governor Ordway. When the territorial assembly convened in 1883 Ordway was ready to move the capital. The governor had allowed himself to be convinced by Alexander McKenzie that the capital should be moved to Bismarck. In return McKenzie agreed to provide sup- port for making George Ordway territorial auditor and to sup- port the governor for the senate seat when statehood came to Dakota. It did not hurt that the governor owned land at Bis- marck, which could be developed. The Ordway-McKenzie forces knew they did not have the votes for a direct capital re- moval bill. Their first step was to introduce a bill moving the capital to Huron, a small community in central, southern Dakota whose residents were totally surprised by the proposal. This was an effective smokescreen and showed that community rivalries in the assembly made it incapable of acting on the issue. The Huron bill failed and was followed by a proposal to establish a nine-member capital removal commission to study the prob- lem and relocate the capital. The decision of the commission would be final, with neither the territorial assembly nor the peo- ple voting on the city chosen. Governor Ordway used the influence of his office, threaten- ing to veto bills for the construction of normal schools, hospitals and other facilities in the home towns of key legislators unless they voted for the capital removal bill. After some slick political maneuvering in committee, the bill passed on March 7, 1883. The commission had to convene in the city of Yankton within thirty days and had to select the new capital by majority vote be- fore July 1, 1883. The southern Dakota press, including the Paper Money Whole No. 140 governor's allies, strongly objected to Ordway's high-handed tactics. In fairness to Ordway, it should be said that he had openly discussed the need to move the territorial capital as early as his 1881 speech, which opened the legislative term. It was widely agreed that this would eventually happen. Yankton had been made the capital in 1861 when the main settlement in Dakota was in the extreme southeast corner of the territory near Yank- ton. By 1883 the territory was well settled and Yankton was far from the center of population and economic activity. The Yank- ton city fathers were confident that local jealousies would make it impossible for the legislature to move the territorial capital. They felt betrayed when Ordway found a way to get around this problem. The citizens of Yankton set out to prevent the commission from convening in the city limits. They kept a careful watch on the Yankton residents who were on the commission, even openly threatening them. A court order was issued forbidding the commission from taking any action. Three weeks passed, the commission did not meet and the citizens of Yankton breathed more easily. They may have thought Ordway had abandoned his project, which would expire on April 6 without action. Early on the morning of April 3, 1883, a special train rolled into Yankton. It stopped briefly. The commissioners had secret- ly met in Sioux City, and there boarded a special Milwaukee Road train. While this train was in the Yankton city limits, as re- quired by law, the capital removal commission convened, elect- ed officers, signed the necessary documents and legally organ- ized itself. General Alexander Hughes was named chairman. Arzrieultural reffions- and lines of settlement in Dakota Territory, 1860-90. Paper Money Whole No. 140 Page 45 Alexander McKenzie was named chairman of the executive committee, which would receive bids from cities that wanted to compete for the capital. The meeting only required a few mo- ments. Then the train slowly proceeded through town and as it left the city limits it sounded one long blast of its whistle giving Yankton its only hint of the commission's presence. In this way Ordway and McKenzie organized the commission without al- lowing local authorities to serve the court order (Baglien, 26-27). On June 2, 1883, after visiting a dozen cities in the territory, the commission made Bismarck the new territorial capital. Thirteen ballots were necessary to make the decision. The de- ciding vote was cast by Alexander Hughes from Elk Point, who had been chosen for the commission by the governor. For its part, the city of Bismarck agreed to donate $100,000 and 160 acres of land to the territory to assist in moving the capital. The land was actually donated by the Northern Pacific Railway. By the end of June Governor Ordway had moved his administra- tion to Bismarck. The people of southern Dakota were shocked but not defeat- ed. They fought the capital removal bill in the courts and held a constitutional convention at Huron in an unsuccessful attempt to obtain separate statehood for southern Dakota territory. The court case was tried on July 25, 1883, by Judge A.J. Edgerton, a Yankton sympathizer. On September 15 he ruled that the capital removal commission had no authority because the Or- ganic Act of Dakota required the the capital be named by the as- sembly. The commissioners appealed the decision to the terri- torial supreme court, where, due to a death, the Ordway men temporarily outnumbered the Yankton men. There the decision to move the capital to Bismarck was reinstated. Despite the Yankton lawsuit challenging the legality of the commission, bids were taken for building the new capitol and a contract was signed on August 18. Although the lawsuit was not settled until late fall, the cornerstone for the new territorial capi- tol was laid on September 5. wilderness. The presence of Grant and Baron Von Eisendecher gave the capitol and its dedication ceremony dignity and credibility. Despite losing their lawsuit, Ordway's opponents continued the fight. In 1885 the territorial legislature passed a bill moving the territorial capital to Pierre. The new governor, Gilbert Pierce, vetoed this bill. The land on which the capitol stood had been given to the territory by the Northern Pacific. The deed for the property specified that unless the site was used for the capi- tol building the property would revert to the railroad. It has cost $250,000 to erect the building, but only $100,000 of that had been donated by Bismarck. If the capital were moved to Pierre the building would revert to the Northern Pacific along with the land and the entire investment would be lost. The territory was suffering economically because of low wheat prices and it was apparent that statehood was not far off. Pierce wisely chose to leave well enough alone. The Medlar $5 Brownback from the Capital National Bank, dated June 23, 1883, and signed by Governor Nehemiah G. Ordway as president, is clear evidence of the governor's conflict of interest in the capital removal controversy. The governor's property interests could be hidden, but not his presidency of the bank. This note is not the only evidence of this connection, nor was the governor the only one involved. The membership of the bank's board of directors included the governor, the territorial auditor, and Alexander McKenzie and General Hughes of the capital removal commission. The date on this note, three weeks after the day Bismarck was chosen for the capital, was the bank's charter date (Huntoon, 67). This suggests that the bank was organized immediately upon selection of the new capital city. There must have been a plan to apply for the charter before the June 2 vote. The twenty-one days from the June 2nd com- mission vote until the June 23rd charter date left little time for document preparation, fund transfers, and legal notices; mails were slow and there would have been normal administrative delay. The capitol dedication ceremony showed Ordway's initiative and good luck. By happy coincidence, Ulysses S. Grant was on his way to Gold Creek, Montana, to drive the golden spike mark- ing the completion of the Northern Pacific Railway on Septem- ber 8, 1883. On September 5, when the new capitol was dedicated, Grant gave the dedication speech, which was fol- lowed by remarks from Henry Villard, president of the Northern Pacific. Baron Von Eisendecher, the German ambassador to the United States, was also present and brought greetings from Chancellor Otto von Bismarck. The people were conscious of the historical significance of bringing civilization to the Dakota Ultimately Governor Ordway's chicanery was his undoing. The territorial supreme court refused to move to Bismarck. The legislature convened in Bismarck the next year, but several offi- cers remained in Yankton. One such officer was James H. Tell- er, territorial secretary and brother of Secretary of the Interior H.M. Teller. He refused to move to Bismarck since his appoint- ment had come from Washington and not from the governor. The Yankton forces exploited this situation, accused Ordway of corruption in office, and offered to support H.M. Teller to re- place Ordway as governor if he would help them get rid of Ord- way. Charges of corruption were brought by Hugh J. Campbell, Page 46 U.S. Attorney for Dakota Territory, in the territorial courts, al- leging that Ordway had turned over county organizing decis- ions, such as county names, positions on county commissions and the location of county seats, to his son for sale to the highest bidder. (Over 40 counties had been organized during Ordway's years as governor and some real estate developers were unhap- py when their townsites were not chosen to be county seats.) Campbell also charged that Ordway had received a $30,000 bribe from Bismarck citizens for placing the capital there. The charges were dismissed because a federal official could not be tried by a territorial court. Until this time Governor Ordway had been able to answer complaints about his actions to Washington. With his govern- ment divided and operating from locations 400 miles apart, his explanations became less convincing. The justice department made an investigation and found no conclusive evidence of cor- ruption. By this time Governor Ordway had become a political liability for the Arthur administration. He was replaced by Gilbert A. Pierce in the summer of 1884. U.S. Attorney Campbell was also removed for his bias in prosecuting Ordway. After leaving office Governor Ordway became special agent for the Northern Pacific Railway. He moved to Washington, where he managed the railroad's lobbying activities and his per- sonal real estate. He continued to own and maintain a home, complete with a team of horses and a buggy, at Bismarck so he could claim Dakota residency and enter the race for the U.S. senate when statehood came. In early 1889 he moved back to Dakota, first to Bismarck and then to Walsh County where he brought a farm and home. The statehood bill created two states on November 2, 1889. Ordway received only nominal support from McKenzie and his North Dakota allies and failed to obtain a seat in the Senate. In 1890 he went east for good. Ordway's connection with the Northern Pacific is natural. In 1883 the railroad wanted the territorial capital moved to Bis- marck, on its main line, to increase traffic. Hugh Campbell, the U.S Attorney who prosecuted Ordway, was later employed by the Chicago and Northwestern Railroad Company, a line that had been anxious to keep the territorial capital in southern Dakota to maintain its traffic. Eastern financial interests dominat- ed the Dakotas in the territorial and early statehood years. This was an unusual instance when the railroads could not agree on how to divide the spoils. N.G. Ordway was president of the Capital National Bank of Bismarck for only a short time. In 1887 C.B. Little, like Ordway a native of Merrimac County in New Hampshire, became presi- dent of the bank. The Capital National Bank of Bismarck con- solidated with the First National Bank of Bismarck in 1896, as the local people understood it, although it may not quite appear that way in the records of the comptroller. The new bank kept the title and charter number (2434) of the First National. Mr. Lit- tle continued as president and his distinctive signature is found on the notes of this and various other North Dakota national banks up to and including the Type II, 1929 issues. Nehemiah G. Ordway died on July 3, 1907, both con- demned and praised for his role in Dakota history. To be fair, the task of Dakota Territorial governor was never an easy one. The territorial years were times of Indian wars, drought, periodic infestations of grasshoppers and financial difficulty. The discov- ery of gold in the Black Hills and rapid development after the coming of the railroads created problems and temptations. It is apparent that there was graft involved in county organizing dur- Paper Money Whole No. 140 ing Ordway's administration. Moving the capital to Bismarck led to frenzied land speculation from which Ordway probably gained. Whether you think Ordway was a scoundrel depends upon whom you believe. C.A. Lounsberry, writing in The Record in 1895 observed: Before Ordway's term the state was without financial stand- ing. Yankton had repudiated its county bonds and for years its county commissioners had been in the habit of meeting for an hour to do business and then resigning, a new set be- ing appointed whenever there was business to do, in order to defeat the law and its processes for the collection of hon- est debts. That debt under his advice and guidance was set- tled to the satisfaction of all concerned. . . . it may be truth- fully said that no one man ever contributed so much as N.G. Ordway toward building the material interests of the territory (Lounsberry, 1895, p. 24). The Yankton leaders were no rustic innocents. Lounsberry was one of Ordway's press allies from Bismarck with a pro- Ordway bias. George Kingsbury, writing from a South Dakotan's point of view in 1915, observed: President Hayes appointed Governor Howard, with whom he was personally acquainted, on his own motions, knowing his qualifications and his character. Ordway he did not know, but took him on the recommendation of Vermont and New Hampshire citizens who, reports state, were anx- ious to get rid of him. He was a meddlesome man. He was prone to laud his own efforts for better government in his speeches and through newspapers, but his example was pernicious and demoralizing. He was responsible for the cor- rupt conditions and hurtful sentiment that he afterward com- plained of (Kingsbury, 1304). H.R. Lamar, writing in 1956 and judging by the standards of a different time, had the advantage of historical perspective in evaluating Ordway. His judgment is much closer to the South Dakotan's opinion of Ordway: The conclusion is inescapable that Ordway was . . . an'excel- lent example of the cynical post-Civil War politicians who brought the political morality of the country to such a low level between 1865 and 1900 (Lamar, 241). The complaints against Ordway are that he took graft when he organized counties and that he profited by moving the capital. The Territorial Secretary, James H. Teller, was con- vinced that there was graft in Ordway's actions, but could never prove it (Schell, 214). By the laws of the time Ordway's profits, if any, were as honest as the next man's. The accusations were part sectional jealousy and part a reasonable reaction to Ord- way's slick tactics when he moved the capital. To the citizens of Yankton it was robbery, using a train as a weapon. REFERENCES: Andreas, A.T. Historical Atlas of Dakota (Chicago: Lakeside Press, 1884). Baglien, David B. The McKenzie Era—A Political History of North Dakota from 1880 to 1920. Unpublished Master's thesis, North Dakota State University, 1955. A Compendium of History and Biography of North Dakota (Chicago: George A. Ogle and Company, 1900). Huntoon, Peter. "Significance of Plate Dates on National Bank Notes," Paper Money, Volume XXV Number 2 (March/April 1986), pp. 67-71. (Continued on page 51) Paper Money Whole No. 140 Page 47 Bin 110TE VIIIIIETIES by TOM SNYDER Supplement XVIII Additions to the notes reported in previous supplements. I ATTENDEDthe SPMC-sponsored show in Memphis this past year and was pleased to meet so many members there who expressed their interest in this project. Equally inspir- ing was the number of excellent exhibits present at the show. Accolades to chairman Mart Delger for really doing an excellent job. I have been involved in numismatics for over 30 years, and perhaps one of the greatest negatives that has evolved is the un- willingness of collectors to exhibit their material. Old timers of years past would exhibit at monthly club meet- ings, local coin shows plus the regional and national shows. Plenty of interest was created among the viewers, and when the inevitable time came to sell the collection, high profits were rea- lized. Exhibiting had been used as a form of advertising; buyers were aware of what existed and might become available. They were eager and ready. I suppose the present value of good nu- mismatic material makes a collector feel vulnerable and at risk when exhibiting. I remember how thrilled I was in 1962 to see Irving Moskowitz displaying his fabulous gold collection in a two room hotel suite, with the furniture removed for the occasion. I recall that he had an armed guard with him and wore a sidearm himself. A complete set of $3 dollar gold pieces and the four types of $4 Stellas were on display, plus other rarities. I had never seen anything like it before nor have I since. Then there was J.V. McDermott whom I knew well. He was the owner of a 1913 Liberty Nickel that he put in a blue 2" x 4" holder and carried around in his pocket. He showed it off at club meetings and in bars alike. McDermott purchased the coin in 1941 for $900, a loss would have been affordable to him. The next buyer would have many more considerations and a much higher risk when exhibit- ing that coin. The same tenor passes throughout the industry. All this takes its toll on the hobby. With the better material locked up, coin club attendance has been dwindling in general over the United States. There is little to capture the imagination of the young, whose absence has been conspicuous in present day numismatics. With a general lack of exhibiting, and thus "advertising," the prevailing numismatic by-word will have to become "Out of sight—Out of mind." So you see, it has started already. As coins become less fa- mous, high profits from rare coin investing will involve "few tak- ers" for old and rare coins. The present "slab trends" will find some new markets for the time being, but I doubt the profits of years past will continue for coins. Investors have high hopes but are unaware of the realities. Without the lore and romance of collecting, coins become a commodity subject to the same forces that ended the roll and bag hoarding of the sixties. Everybody made a fortune at the time, but after the crash, it never recov- ered. Rolls and bags are still largely ignored; I believe slabbed coins will suffer the same fate. The next generation is finding other interests, totally oblivious to the existence, romance and beauty of old historical coins and paper money. We are indeed fortunate that many rare bank notes with as few as a half-dozen specimens in existence can be obtained for $200 or less, and could be exhibited with a reasonable and near affordable risk factor. At the Memphis show I saw many items I would like to have should they become available. If, some day, market forces make them change hands for thousands of dollars, we will become less aware of their existence as they re- pose in darkness. For now—show 'em off and reap the rewards of banknote collecting. It's what coin collecting was in its hey day! The past year has seen the reporting of 214 additional small- size notes including 24 new charters. I am indebted to Bob Hearn and Bill Waken for their extensive reports of New Jersey and Oklahoma collections. Some fascinating notes have come to light. On the home front and in the same regard, a rare Wisconsin small-size charter 11083 from Glenwood City has finally sur- faced in the Minneapolis area. The bank issued 5s only, and its owner, who wishes to remain anonymous, sent a rather poor photocopy of F818A to dealer Dave Moore in a hotel stationery envelope from out of state. This gives you an idea of the state of mind of some of these people who are unwilling to discover that we SPMC members are an honest and friendly group. Contributors to the 18th Supplement Carl Allen, Emmett Baker, R.J. Balbaton, Charles Berg, James Boyer, I. Nelson Clark. Charles Colver, Tom Conklin, Tom Denly, Charles Echols, George Eggimann, Alan Goldsmith, Joseph Gregory, R.C. Hastings, Bob Hearn, John Hickman, Nelson Hilbert. James Hoskovec, Richard Jones, Allen Karn, David Klein, Lyn Knight, Dave Koble, Art Leister. Gerald Loegler, Don Mark, Barry Martin, Glen Martin, Ken McDannel, Allen Mincho, Richard Montford, Robert Moon, David Moore, John Nichols, Dean Oakes, Joe O'Brien, John Parker, Mike Robelin, Jerry Roberts, H. Schultz, L.A. Scott, Jerry Swanson. James Thompson, Al Van Buskirk, William Waken. REPORTING YOUR NEW DISCOVERIES I would like to include your notes in this project, and will be pleased to correspond with you regarding your small-size na- tionals. PROJECT CORRESPONDENCE: Tom Snyder 2028 N. 113th Street Wauwatosa, WI 53226 (414) 476-8128 (CST) Page 48 Paper Money Whole No. 140 NOTES THAT SURFACED OR WERE REPORTED AND RECORDED DURING 1988 Indicates New ALABAMA 5693 Greensboro 20 7084 Selma 5 7932 Dothan 10 7940 Slocomb 10 8458 Midland City 10 8963 Scottsboro 5 10377 Fayette 5,20 11515 Clanton 10 12642 Monroeville 10 13359 Leeds 10 ARKANSAS • 5929 De Queen 20 10486 Ashdown 20 CALIFORNIA 13187 Los Angeles 5 (Rare 2nd Title) COLORADO 7288 Montrose 10 9907 Englewood 5 13902 Grand Junction 10 CONNECTICUT 3020 Naugatuck 20 FLORIDA 10069 Orlando 20 13389 Bartow 5 ILLINOIS • 3579 Taylorville 10 5086 Mendota 20 8289 Ransom 10 •10045 Mattoon 50 INDIANA • 4688 Vernon 20 5842 Thorntown 20 6480 Clinton 5 9352 Patoka 10 IOWA 4376 Charter Oak 20 6771 Logan 20 7061 Fontanelle 10 13609 Newton 5 14065 Nevada 10,20 KANSAS 3794 Howard 100 3855 Sedan 10 5292 Garnett 10 5386 Ashland 10 5705 Great Bend 10 7298 Oberlin 20 7416 Goff 20 7532 Delphos 20 7911 Marion 10 8142 Ness City 10 8379 Abilene 5 8803 Pleasanton 10 9934 Mayetta 10 10041 Oakley 10 11855 Collyer 50 13801 Kansas City 5 Charters KENTUCKY • 2576 Owensboro 10 • 4819 Glasgow 10 6262 Barbourville 10 7030 Pikeville 5 10433 Whitesburg 10 MARYLAND 8244 Brunswick 10 MASSACHUSETTS 462 Adams 10 9086 North Attleboro 20 9425 Foxborough 10 11067 Woburn 20 13252 Newton 20 MICHIGAN •10631 Capac 10 MINNESOTA 11293 Lake Wilson 10 MISSISSIPPI 10494 Brookhaven 5 MISSOURI 4939 Saint Joseph . . . 20 5036 West Plains 20 7271 Bolivar 20 7806 Clinton 10 11402 Perryville 5 MONTANA 11492 Lima 20 NEBRASKA 9762 Imperial 10 NEW HAMPSHIRE 1153 Manchester 10 *13861 Rochester 10 NEW JERSEY 370 Vincentown 10 452 Freehold 50 1356 Mount Holly 20 2083 Newark 10 2246 Clinton 5 2331 Flemington 20 2509 Toms River 100 3501 Allentown 10 3621 Atlantic City 5 4182 Freehold 20 • 4274 Boonton 20 5205 Ridgewood 20 • 6179 South River 10 7223 Englishtown 20 8129 Pemberton 10 8227 Hamburg 20 8394 Closter 10 8437 Carteret 10 • 8501 Dunellen 20 8582 Mays Landing . . . 20 • 8661 Millburn 10,20 9380 Secaucus 10 10036 Port Norris .... 10,20 10118 Hope 10 10430 Westville 10 10823 Absecon .... 50,100 11361 Dumont 10 11543 Bogatta 5 11734 Woodstown 20 12272 Wyckoff 20 12559 Sommers Point . 10 12606 Yardville 10 12646 Hamilton 5 12690 Clifton 10 *12829 Weehawken 5 12939 Jersey City 20 13848 Belmar 5 13893 Edgewater 20 13910 New Egypt 10 14006 Clementon 5 14014 Guttenberg 20 NEW YORK 245 Morrisville 10 929 Kinderhook 20 1308 Utica 5 1408 Goshen 5 5284 Alexandria Bay 5 8531 Canton 10 9804 Poland 5 10016 North Rose 10 10856 Athens 10 10923 Walden 5,10 11742 Port Leyden 20 13336 New York 20 14025 Oxford 5 NORTH DAKOTA 5408 Fessenden 20 6327 Washburn 20 6559 Buffalo 10 7234 Onasbruck 20 100 5 20 20 10 20 20 10 20 20 10 5 5 10 10 20 20 Marlow 5 20 Nowata 20 Tyrone 10 Erick 10 Ardmore 100 Idabel 5 Pryor Creek 20 Blair 20 Carmen 10 Altus 5 20 OREGON 10071 Monmouth 10 PENNSYLVANIA 2280 Ashland 5 5073 Kittanning 5 5130 Ford City 50 6420 Finleyville 10 6528 Masontown 10 6573 South Fork 5 " 6878 East Berlin 20 8919 Bruin 5 10211 Thompsontown 5 10452 Strausstown 10 10493 Russellton 10 11487 Monessen 10 *13908 Rural Valley 10 SOUTH CAROLINA " 5064 Gaffney 5 TENNESSEE 10334 Jackson 20 TEXAS * 4289 Van Alystyne 20 6989 Pearsall 10 10476 Linden 20 12307 Quanah 20 13919 Luling 20 13943 Houston 5,20 VERMONT 2905 Rutland 20 11615 Richford 5 VIRGINIA 6235 Norton 20 9924 Jonesville 20 11205 Appomattox 10 11901 Stuart 5,20 •12267 Phoebus 5 12311 Ferrum 5,100 13792 Petersburg 20 WASHINGTON 9030 Medical Lake . 12114 Enumclaw 5 WEST VIRGINIA 4760 Buckhannon 10 5903 Alderson 20 • 7275 Clendenin 20 7626 Newburg 10 8345 Fayetteville 5 9645 Fairmont 5 11483 Williamstown 10 13646 Buckhannon 20 WISCONSIN *11083 Glenwood City 5 13308 Soldiers Grove . 20 WYOMING 10844 Lovell 10 5431 5547 6159 6171 7115 7217 7278 7615 7788 7811 8270 8336 8644 • 8859 8999 9709 9938 9946 9949 10032 10875 11093 11913 12117 12130 12498 13756 OKLAHOMA Chickasha Chickasha Yukon Lindsay Broken Arrow Stigler Thomas Porter Sapulpa Walters Dewey Rush Springs . Minco Verden Maysville Waynoka Chickasha OHIO 7173 Lexington 10 86 Germantown .... 10 7206 Martinsville 5 7486 Bowerston 10 7782 Bluefield 5 13569 Chardon 20 • 8003 Esmont 5,10 Paper Money Whole No. 140 Page 49 CHARTER BANKS WHO ISSUED THE 1929-1935 NATIONAL BANK CURRENCY WHOSE NOTES REMAIN UNREPORTED States Territories District Banks Remaining Unreported Unreported Notes by Charter Number of Issuing Bank. States Banks Territories Remaining District Unreported Unreported Notes by Charter Number of Issuing Bank. Alabama 10 7451, 7687, 7991, 7992, 8028, North Dakota 13 6397, 6474, 6475, 6557, 6601, 9055, 9927, 10102, 10307, 6743, 7872, 7879, 8881, 9386, 11259. 9684, 10721, 11184. Alaska (Tern) Notes from all banks reported. Ohio 5 6943, 7639, 9274, 10436, Arizona Notes from all banks reported. 11216. Arkansas 3 9633, 12238, 12996. Oklahoma 11 5811, 6517, 6641, 7209, 8472, 8616, 9881, 9964, 9970. California 9 10184, 10309, 11041, 11433, 11867, 12271, 12328, 12624, 14202. Oregon 8 10380, 11397. 3774, 5822, 8941, 9281, 10164, 10992, 13294, 14001 Colorado 1 6454 Pennsylvania 22 522, 2562, 4222, 5920, 5974, Connecticut Notes from all banks reported. 6281, 6603, 6709, 8092, 9128, Delaware Notes from all banks reported. 9554, 11892, 11966, 13868. District Columbia 1 10316. 13871, 13999, 14049, 14112, 14121, 14169, 14181, 14182. Florida 1 7757. Rhode Island - Notes from all banks reported. Georgia 2 8314, 12404. Hawaii (Terr.) Notes from all banks reported. South Carolina 5 6385, 9296, 10129, 10263, 10586. Idaho - Notes from all banks reported. South Dakota 6 2068, 6561, 8698, 11457, Illinois 8 903, 1428, 1870, 5285, 11333 11590, 11689. 13673, 13709, 13993. Tennessee 3 10181, 10449, 12319. Indiana 15 2747, 3338, 4685, 5476, 5558 Texas 44 2729, 3261, 3973, 4368, 4438, 6765, 7354, 7491, 8351, 8912 5109, 5475, 5759, 6361, 6376, 10616, 12028, 12780, 14075. 6461, 6551, 6780, 6896, 6968, Iowa 9 2961, 4795, 5585, 6852, 7357 7378, 7524, 7775, 8204. 8522, 8057, 8099, 9549, 14309. 8690, 8770, 8816, 8817, 9053. Kansas 3 3134, 8974, 9136. 9625, 9810, 9989, 10241, Kentucky 5 7254, 11890, 12202, 14026, 10323, 10403, 10472, 10657, 14076. 10703, 11163, 12741, 13555, Louisiana 2 10544, 14225. 13562, 13661, 13667, 13669, Maine 3 1956, 7835, 13843. 14027, 14072, 14126. Maryland 7 3205, 4364, 6202, 8799, 8860 Utah -- Notes from all banks reported. 12443, 13798. Vermont 2 7614, 13261 . Massachusetts 5 684, 1386, 2288, 2312, 14266 Virginia 5 7208, 10658, 11533, 11978, Michigan 4 9509, 12661, 12793, 13929. 13878. Minnesota 6 3155, 6366, 6519, 6795, 6933 Washington 7 3862, 8639, 9576, 10407, 10936. 11416, 13057, 14166. Mississippi Notes from all banks reported. West Virginia 8 7672, 8333, 9523, 10392, Missouri 1 6885. 10759, 11502, 13505, 13783. Montana 2 10715, 10939. Wisconsin 2 8632, 14905. Nebraska 4 5337, 7622, 8797, 9665. Wyoming -- Notes from all banks reported. Nevada Notes from all banks reported. Recapitulation: (as of 12-31-88) New Hampshire Notes from all banks reported. New Jersey 9 5403, 5730, 8681, 9061, 9661 12903, 14088, 14153, 14305. New Mexico Notes from all banks reported. New York 30 266, 295, 296, 2463, 3171, THE COUNTDOWN North Carolina 1 3193, 5746, 5936, 6087, 7233 7763, 7840, 8334, 8343, 8388 8717, 8872, 10374, 10930, 11518, 11739, 11956, 12018, 12294, 12398, 13089, 13246, 13365, 13909, 13911. 9044. Charters granted to National banks issuing the 1929-1935 notes 6997 Notes surfaced from charters 6731 Charters to be reported 266 Remaining unreported denominations from the various banks 2391 11,1411(1)ABOATAIII!4adbi lliftlie4\ THE not MAMMAL AANA DE QUEEN ARKANSAS iiii;W6a1116 C000006A --• *04111;114*S_AkTIASAV:44.11:401 A 10 CLNIREVILLE NATIONAL MA Df WANIVICIT NISI \!'ARN` ICK CO R,GD, MLA,. . 's IM11.1AliS E000862A $10 BLAIR, WISCONSIN — Ch. 10667 T—T.A.7.L*Nr. agiatvaigggomjsitx ; ifE fiel MOW WA OF BLAIR VilSCONSM A $20 VERNON, INDIANA — Ch. 4688 Mr...,)217,-irrrTrr-r,Th-W 111411;A901111A1ASTATINAAP,LATEACAIL3, TEE HOST 8000068A NATIONAL HANK OF INDIANA rrrINTv 'mum* , B000068A 4 6 a 8.1 TTE EAST ALMA CO00120 ANATIONAL HANK LAST BERLE PCW,STI_VANIA TNITINDULtALL-: C0001201, DIE EMT T 6559 A000021 NATIONAL BALIft gf BUFIALO NORTH DAKOTA • *to A000021 655 9 Page 50 $20 DE QUEEN, ARKANSAS — Ch. 5929 Located in southwestern Sevier county, the first National Bank of De Queen was chartered in 1901 with a capitalization of $25,000. The town boasts a population of 2,800 and this note is the first of its charter to be recorded in small-size. The bank issued 194 sheets of type I $20s for a total of $1, 164 individual notes. This specimen is in nice VF condition. (Illustration courtesy of L.A. Scott.) $10 WEST WARWICK, RHODE ISLAND — Ch. 1284 The Centreville National Bank of Warwick, West Warwick—a most confusing title. Frank Bennett shares some history with us by explaining that the bank was originally incorporated in 1828 in the village of Centreville, township of Warwick and became a National Bank in 1865. It later moved a short distance west to the village of Arctic, but retained its more prominent Centreville name. The bank's large-size notes have the title "Centreville Na- tional Bank of Warwick." By the time the 1929 series notes were issued, the township was divided and the village of Arctic be- came the city of West Warwick. The bank still retained its old name reflecting its heritage, adding the new city name. The village of Arctic was never mentioned. The population of West Warwick numbers about 22,000. (Illustration courtesy of Frank Bennett.) Paper Money Whole No. 140 population of about 1,000. The bank was chartered in July 1903 with a capitalization of $25,000. It issued 200 sheets of this type I $20 for a total of 1,200 individual notes. The bank closed in March, 1933 and was liquidated a year later. (Illustra- tion courtesy of I. Nelson Clark.) The First National Bank of Blair was the only national bank in western Wisconsin's Trempealeau county. It was chartered in December 1914 with a capitalization of $25,000. The bank is- sued 4,746 small-size notes in denominations of $5, $10 and $20 before liquidating in 1932. The surfacing of this note makes a full set; one of each denomination are now recorded. Popula- tion of Blair is 900. (Illustration courtesy of Bob Steele.) Located in southeastern Jennings county, the First National Bank of Vernon was chartered in 1892 with a capitalization of $50,000. The bank issued 147 sheets of this type I $20 for a total of 882 notes. The bank was liquidated in 1931. (Illustra- tion courtesy of Jerry Swanson.) $10 BUFFALO, NORTH DAKOTA — Ch. 6559 $20 EAST BERLIN, PENNSYLVANIA — Ch. 6878 Here's proof that Americans were first to have an "East Berlin." Located in south-central Adams county, this East Berlin has a Located in southeastern Cass county, the First National Bank of Buffalo was chartered in 1902. It issued 72 sheets of this type II $10 for a total of 432 notes. (Illustration courtesy of James J. Hoskovec.) ADF' ' THE ILLINOIS NATIONAL 13652 4000053 .4HANI A TRUST COMPANY OF 10" ROCKFORDaubops ilurreltomuts 4000053 13652', $5 WALDEN, NEW YORK — Ch. 10923 La187810.D.MORIII117.4 1. .' movalir9=DieVItb_11 THE FIRST NATIONAL SANK 10923 4000859 ANC TRUST COMPANY GE 'WALDEN NEW YORE FIVE: DOLLARS $100 ARDMORE, OKLAHOMA — Ch. 11093 !.1 NV 1 VA AtlietrWATIJA ETCHANDE NATIONAL BANN OF ARDMORE owk.o.A IRE MIMED IN1LIAI15 000 38A Cr) 0 80000384 $20 NORTON, VIRGINIA — Ch. 6235 0$4,el PI,:•■■• -■,1,4111... 21 a Ilno..1191‘6, 131011DIMWASMOWIEIrgek THE FIRST NATIONAL SANS NORTON tD TWENTY DOLLARS 00084114 50004114 A0004214TNF IAINOTACTURTIS '"*" NATIONAL BANN OF NORTH ATTLITOROLIGIT MAS3AOHOSErts 9.4* ato TOMMY DOLLARS 40004214 Paper Money Whole No. 140 $50 ROCKFORD, ILLINOIS — Ch. 13652 The Illinois National Bank and Trust Company of Rockford was chartered in 1932 with a capitalization of $200,000. The bank is located in north-central Winnebago county a few miles south of the Illinois-Wisconsin border. The bank was one of only six in the state to issue type II $50s and only 12 sheets of notes for a total of 72 pieces were printed. A miracle of survival, this note is in a high circulated grade. (Illustration courtesy of Tom Snyder.) Page 51 The First National Bank and Trust Company of Walden suc- ceeded the Third National Bank of Walden on May 1. 1930. Capitalized at $100,000, it issued 5,754 of these type II $5s. Walden is located in Orange county New York and has a popu- lation of 5.000 plus. (Illustration courtesy of Allen and Penny Mincho.) $20 NORTH ATTLEBOROUGH, MASSACHUSETTS — Ch. 9086 The Exchange National Bank of Ardmore was chartered in Oc- tober 1917 with a capitalization of $100,000. The bank issued 52 sheets of this $100 denomination for a total of 312 notes. Located in south-central Carter county, the town boasts a popu- lation of 20,000. (Illustration courtesy of I. Nelson Clark.) Located in western Wise county, the First National Bank of Nor- ton was chartered in May 1902 with a capitalization of $25,000. The bank issued 924 sheets of type I $20s. Population of Nor- ton is 5,000. (Illustration courtesy of Frank Bennett.) The Manufacturers National Bank of North Attleborough. Massachusetts was chartered in 1908 with a capitalization of $100,000. The bank issued 524 sheets of type I $20s. The extra condensed type style used in imprinting the town name on this note is rare. This town of 15,000 is located in southeastern Bristol county. (Illustration courtesy of R.J. Balbaton.) ■ Ordway — Continued from page 46 Kingsbury. George W. History of Dakota Territory (Chicago: S.J. Clarke Publishing Company, 1915). Lamar, Howard Roberts. Dakota Territory, 1861-1889: A Study of Frontier Politics (New Haven: Yale University Press. 1956). Lounsberry, C.A. "Death of Governor Ordway," The Fargo Forum. July 9, 1907, p. 2. Lounsberry, C.A. "Ex-Governor Nehemiah G. Ordway." The Record, Volume 1 (May 1895). Robinson, Elwyn B. History of North Dakota (Lincoln: University of Ne- braska Press, 1966). Rose, Margaret. "Dakota Territorial Centennial," North Dakota History, October 1961, p. 139. Schell, Herbert S. History of South Dakota (Lincoln: University of Ne- braska Press, 1968). Auction catalogues: Hickman and Oakes 33rd Floor and Mail Bid Auction, June 19-20, 1987. Acknowledgments: I would like to thank Forrest Daniels for his assistance. KANSAS CI PRO. NO. 4,000 FEDERAL RESERV. NOTES SERIES 19'4 $ 0 BEGINNING SERIAL NO. J13320001C J Series 1974 Type 2 label with "PKG. NO." below the Federal Reserve Bank name. J J l 's Paper Money Whole No. 140Page 52 Currency Label Sets Old and New by FRANK CLARK A currency label set consists of the first and last note of a brick of notes plus the identifying label for that particular brick. A brick is a package of 4,000 notes consisting of 40 packs of 100 notes. This is how currency leaves the Bureau of Engraving and Printing when it is shipped to one of the twelve Federal Reserve banks. This article de- scribes and illustrates labels from the 1963 Series to the present. C URRENT LABELS only list the serial number of the firstnote in the brick. Until the 1974 Series, labels would listthe serial numbers for the first note and for the last note in the brick. At one time bricks also had a label at the beginning and at the end. The end-label was discontinued with the 1977 Series. Current bricks have one label at the beginning of the brick with only the serial number listed for the first note in the brick. This is attached to a block of wood. There is also a block of wood at the bottom of the brick. The brick is banded with steel and is enclosed in shrink-wrapped plastic; it is then ready for shipment. FEDERAL RESERVE NOTES SAN FRANCISCO LPkg. No. 13555 SERIES 1963 4,000 1'S $4,000 to L54220000F r on /- 19, on -) 19 6 r Series 1963 front label with serial numbers listed for first and last notes. SAN FRANCISCO L FEDERAL RESERVE NOTES Pkv. No. 13555 SERIES 1963 4,000 ,s $4,0001 L54216001F to L54220000F ▪ Pkg. Counted by - on 19 Sealed by on 19 Series 1963 back label with serial numbers listed for first and last notes. ST. LOUIS 4.000 FEDERAL RESERVE NOTES SERIES 1974 NOG 1. 334 $4,000 SERIAL NO H17332001ABEGINNING Series 1974 Type 1 label with "PKG. NO " below the series designa- tion. In addition to the serial number of the first note, the label identifies: 1. Package number 2. Amount of notes 3. Type of notes 4. Series 5. Denomination 6. Amount of package 7. Places for initials and dates of who assembled, verified, banded and wrapped the brick. (Most of this has been taken over by machine and these are seldom used now.) 8. The name of the Federal Reserve Bank plus the corre- sponding district letter for each bank is placed in each cor- ner of the label. The above is for a current front label. Earlier front and end labels would have a slightly different layout, except for the 1974 Series where they are alike. Also, there can be slightly different labels for the same series of notes in regard to the location of the pack- age number. This has been observed for the Series 1974 notes. (A special note on the Series 1976, $2 Federal Reserve Notes since no other currency carries that series designation: each brick contains a front and end label with only the serial number for the first note listed.) L54216001F Assembled by J r r r Banded by l 's KE K zo,j r. , 0 VlO O Z ° ur: X tn%Owz 0 4 m- ±mewz O Cg 111 14 1 .1 0 Z z E';' F=v0.0=2 2eS DALLAS 4,000 FEDERAL RESERVE NOTES SERIES 1976 fP4r• 4 324 $8,000BEGINNING K17292001A 2's K K DALLAS 4.000 FEDERAL RESERVE NOTES SERIES 1976 PNV . 4 324 $8,000 BEGINNING K17292001ASERIAL NO. 1111111111111111.111.1111=1 -LILT CI 0 K " E t K K K 2's Paper Money Whole No. 140 Page 53 Front and back labels for Series 1976, $2 Federal Reserve Notes for the Dallas Federal Reserve Bank. The front of a BEP wrapper for 100 notes, in this instance a pack of $2 Federal Reserue Notes. Notice the clause on the wrapper. The following is a listing of the twelve Federal Reserve banks, plus their corresponding district numbers and letters: BANK NUMBER LETTER Boston 1 A New York 2 B Philadelphia 3 C Cleveland 4 D Richmond 5 E Atlanta 6 F Chicago 7 G St. Louis 8 H Minneapolis 9 Kansas City 10 J Dallas 11 K San Francisco 12 L The label will usually be in the same color as the wrapper used to enclose each 100 notes for each denomination. However, the package number and beginning serial number are in black. The following table lists the colors used for the lettering on a label: DENOMINATION LABEL COLOR 4,000 NOTES WRAPPER COLOR 100 NOTES $ 1 BLUE BLUE $ 2 GREEN GREEN $ 5 RED RED $ 10 "BLACK YELLOW $ 20 PURPLE PURPLE $ 50 DARK BROWN DARK BROWN $100 OLIVE GREEN OLIVE GREEN • According to a BEP spokeswoman, this label is black because yellow is difficult for the inspectors to read. When a currency series changes, labels are overprinted with a black letter that follows the original series designation. For ex- ample, when the currency series went from 1981 to 1981A, 1981 labels were overprinted with a black "A" to produce 1981A labels for 1981A notes. This was not seen on earlier labels. For example, labels would say "Series 1969", but their notes could be 1969A's, 1969B's, etc. The back of a BEP wrapper . Notes that are damaged or misprinted are replaced by differ- ent numbers with a star (*) suffix. A "star note" can take the place of the note with the listed serial number on the label if that note becomes a replacement note. Sometimes entire bricks of star notes will be released to re- duce star note inventory at the Bureau of Engraving and Print- ing, or to replace large amounts of currency that do not meet the BEP's standards. In that case the BEP will use a standard label but it will be stamped twice with the following: "THIS PACKAGE CONTAINS 4,000 STAR NOTES IN LIEU OF SERIAL NUMBERS INDICATED ON LABEL." There has been a recent change in the label format. Series 1985 labels come in two different types. The first type is the same as the earlier labels described, but the new type is quite dif- ferent. It is being phased-in slowly and presently is used only on $1 notes. The older type label is used with notes produced by the Cur- rency Overprinting and Processing Equipment (COPE) system. The new type labels are for notes produced by the new Curren- cy Overprinting and Processing Equipment and Packaging (COPE PAK) system. COPE PAK further automates our nation's currency production by providing an advanced, all-in- one packaging and labeling system. The COPE PAK system of packaging currency introduces a scannable band and an Optical Character Recognition (OCR) readable label. OCR is the identification of graphic characters by use of photo sensitive devices. This is beneficial for automated internal controls at the BEP. It will also allow the Federal Re- serve Districts to automate records that relate to the addition or reduction of currency to and from their inventories for thirty- seven branch offices. The COPE system currently requires a manual accounting of the transfer of currency within the Federal Reserve Districts and their branches. H30851) ST LOUIS 111111.11111110111111 H49344001 D SER 85 iN Iti 11 1 II T LOUIS 1E61 2337D Page 54 The COPE PAK system will allow the BEP to meet increased demands for new currency with no increase to unit cost. The new labels can be mechanically rather than manually applied. The labels can also be automatically read and recorded into an inventory system. The notes are also packaged differently than in the past. The OCR readable label is self-adhesive and is applied directly to a shrink-wrapped mini-brick of one thousand notes. Four of these mini-bricks make up the traditional brick. Each mini-brick label bears the appropriate brick number along with the serial number for the first note in the mini-brick. Four complete bricks are boxed together to make a super-brick and the box is sealed with packaging tape that includes the letters "BEP" and an eagle design. Another label is attached to the outside of the box that contains the same information as the first label in the super- brick, but instead of a brick number there is a box number or super-brick number listed. This outside label is bigger and in the Paper Money Whole No. 140 traditional color of the earlier labels, i.e., blue for $1 notes. The OCR labels are only black on white and they contain the follow- ing information: 1. Scannable Bands 2. Federal Reserve Bank 3. Denomination 4. Brick number 5. Series 6. Beginning serial number of the mini-brick The super-brick or box label contains the following information: 1. Box or super-brick number 2. Federal Reserve Bank 3. Series 4. Scannable band 5. Beginning serial number of the super-brick Super-Brick Box Number Series Designation Scannable Band Serial Number of First Note Federal Reserve Bank New super-brick label. SERIES85 H493440010- 1 Federal Reserve Bank Series Designation New mini-brick label. Scannable Bands Denomination Brick Number Serial Number of First Note H 49360000 0 APILIO/M: Tag VNEItin!..91,414Q,PANNEMICIS\ H149344001 8 149344001D IIMATIE IOU A, unEtt .4g,,*.TTA (0/431E,TticiA H49360000 0 8 &ea., 4 isitNieall10.16611.1S „ ABNCo Souvenir Card This card was issued on March 15; it commemorates the 200th anniversary of the inauguration of George Washington as the first President of the United States. The cost is $7, and it can be ordered from American Bank Note Commemoratives, Inc., Newfane, VT 05345-0420. THE AMERICAN BANK NOTE COMPANY Proudly Commemorates the 200th Anniversary of the Instugut George Washington as the lust President of she United Staley of —views 1789.1989 owe, • A own oidei Ass si tented hr the Anent. 9 atte Note Come., on April 1. Uhl, 10 print 7.000170 notes lot the Bank ot in the wipe of the Cole appears a portrait at George Washington. a tunes. Virginia. Alio appearing on the note ti another dininguisheit native of Virginia. lobe Marshall. Chief fispire of the ti S. supreme Court t1601-1415; The visitor on the left n salted the Reapers. lo,pan,S,penier x Cgs 64(4 .11,1 Paper Money Whole No. 140 Page 55 The dimensions of the labels are as follows: 1. Old Label-6.125" x 2.625" 2. OCR Label-4.75" x 2.25" 3. Box Label-4.75" x 2.875" In summary. the new super-brick contains 16,000 notes, con- sisting of four bricks of 4,000 notes each, with each 1,000 notes separately shrink-wrapped with labels that list the serial number of the first note in the mini-brick. There is also a label for the super-brick. A label set for the new super-brick could consist of the first and last note plus the label on the box or the label for the first mini-brick in the box, since either label would have the serial number of the first note in the super-brick, or, you could even include both of these labels for your set. You could also include the other labels for each of the mini-bricks within the super- brick. You could even add the corresponding first note for each of these labels. As you can see, there are many ways to collect the old or new label sets. Supplements What follows is a supplemental listing of notes on which the subjects discussed in the original articles can be found. (ed.) The First Greenbacks (No. 135, p. 69) Haxby No. DC-70 G14B $2 Bank of Commerce, Georgetown GA-27 G50a $10 Central Rail Road & Banking Co., Savannah IL-95 G4a $5' Bluff City Bank, Caledonia IL-470 G4a $5 Hermitage Bank, Marion IL-750 G2a $1 Bank of Sparta MA-1130 G165a $10 Salem Bank WI-490 G6a $10 Merchants Bank, Milwaukee WI-500 G8 $10 Bank of Milwaukee W1-755 G4a $10 Bank of Stevens Point 'Previously listed incorrectly as $2. The Calmady Children (No. 138, p. 173) Haxby No. CT-370 G80a $50 Thames Bank, Norwich MA-90 G30a $50 Worcester County Bank MA-100 G29a $100 Atlantic Bank, Boston MA-460 G34a $20 Neponset Bank, Canton NC — 51:X Hamburg Mills, Mt. Airy' NH-165 G92a $100 Bank of Lebanon NJ-25 Gl2a $3 Beverly Bank NY-1355 G24a $100 Middletown Bank PA-150 G16a $2 Bank of Germantown PA-200 G2a $1 Kittanning Bank PA-330 G2a $1 Farmers Bank of Mount Joy PA-625 G8a $5 McKean Bank of Smethport RI-285 G8a & 8b $1 Eagle Bank, Providence VA-160 G2b $5 Bank of the City of Petersburg First and last notes for super brick number H3085D. WI-7 5 G2 $2 Prairie City 70 G2 & 2a $1 Sun Prairie Scrip by Hatch Litho Co., NY Bank Bank SUMMARY TABLE OF FEDERAL RESERVE NOTE LABELS FOR SERIES 1963-1985 SERIES SERIAL NOS. SERIAL NO. FRONT FRONT FIRST & FIRST & END LABEL LAST NOTE NOTE ONLY LABEL ONLY 1963' X X 1969* * X X 1974 X X 1976*** X X 1977 X X 1977A X X 1981 X X 1981A X X 1985**** X X " Series 1963. 1963A & 1963B all use Series 1963 labels. • • Series 1969, 1969A, 1969B, 1969C & 1969D all use Series 1969 labels. • • * $2 Federal Reserve Notes only for this series. *••• Two different types of labels are found within the Series 1985 labels—the conventional type and the new OCR label. BIBLIOGRAPHY Bureau of Engraving & Printing News. 6 March 1986. Goldstein, N., II. "Something new develops in field of paper mon- ey. - Coin World. 21 January 1970. Sippi, J. and R. J. Computer Dictionary. 3rd edition. iiii46751 40 a"."-R/Wikk ,1 THE FIRST NATIONAL B000650A BANE Of SMITHFIELD TASVILLE PNOnf ISLAH 0 TWENT1'I1OLLAIAS 13000650A 4 • -4: Our first note, 1970 111111,13,_ THE ASTIMIIII NATIGNM: Bur ASHA 1T IA RHODE tAijk VIA.., TWENTY 4.► _....... E 30, MILIVACICIPATALT, Cll. NKR MIIIEIV E000 30A 'IVES DO iLifigis Paper Money Whole No. 140Page 56 "A piece of cake" Rhode Island small-size National Bank Notes by R. J. CORMIER I've been hooked on small-size Rhode Island Notes for about eight years: they generate more interest for me than the large-size notes. The small number of different notes, issued by only a dozen banks, appear to make it, if not probable, at least possible to obtain a complete collection. T HE FIRST NOTE that we (the "we" being my father George[who passed away in 1978] and myself) acquired forthe collection was a $20 type I, in fine condition, from the 1st National Bank of Smithfield in Slatersville. The year was 1970, and I have not been able to improve on the condition of this note to this day. In those days we were collecting notes only from Woonsocket and the surrounding area, and since no banks in Woonsocket survived the small-size period, we were not too concerned with them. In. or about, 1980 I got the bug and began to actively pur- sue all notes from the twelve issuing banks in the state. Summary: Only 10 banks issued type I notes. All 12 banks issued type II notes. Only 2 banks issued type I, $50 & $100 notes. Only 1 bank issued type II, $50 & $100 notes. $5-10-20 type I. 3x10= 30 notes $50-100 type I, 2 x 2= 4 notes 34 type I notes $5-10-20 type II, 3x12= 36 notes $50-100 type II, 2 x 1= 2 notes 38 type II notes Total notes: 24+38=72 notes. A PIECE OF CAKE! HOLD ON! There are other things to consider: 1. Phenix NB of Providence, ch. 948, had a change of of- ficers in 1934, and both Thompson/Knight and York/Thompson signed $5-10-20 type II notes; hence, three additional notes, making a total of 75 (72+3). 2. 1st NB of Smithfield, ch. 1035, did not issue $5 notes, so we save two, but there was an officer change in 1932 or 1933, and both Seagrave/Bartlett and Seagrave/Sweet signed type I notes, so there is no change in the total of 75. 3. At Ashaway NB, ch. 1150, there were three different presidents between 1929 and 1935: a. 1929-32 Hill/Leverett A. Briggs signed type I notes. b. 1932-33 Hill/Cole also signed type I notes. Mr. Cole's term of office was a short one. He was accidentally killed in May or June of 1933. c. 1933-35 Hill/A. Lloyd Briggs signed type II notes. We pick up three notes on this bank, making a total of 78. Notes from this bank are the scarcest for the state in both the dollar amount issued, $86,430, and the amount out- standing in 1935, $21,790. Out last note, 1988. This note belonged to Frank Maxson Hill, son of the Hon. Frank Hill who signed charter 1150 notes. 4. Mechanics NB of Providence, ch. 1007, is one of the banks that issued $50 & $100 type I notes. Except for the larger denomination notes, there is not much to look for from this bank and the total stays at 78. 5. At Centreville NB of Warwick in West Warwick, ch. 1284, Abramson/Whitford served throughout the small-size note issuing period. No $5 type I notes were issued, so we lose one, reducing the total to 77. 6. The Providence NB of Providence, ch. 1302, issued $5,540,000, which is nearly twice the amount of the next ranking bank. It is small wonder that when you ask a dealer to see his small-size RI notes, he usually shows you a ch. 1302 note, if he has any at all. The same officers served throughout, so we don't gain or lose on this one. What we do lose is interest in this bank because of the lack of variety and relative abundance of most notes. I look for condition and the last serial no. The total remains at 77. This is a very challenging bank for the collectors of large-size notes of the 1st and 2nd charter periods. As of December 1988, no 1st charter notes have surfaced, and only one Brown Back is known, a $100 note. aRI-WIDE \ SL.PoNly 11:129 SE.R..1e 5 NATI ONAL-S 1\10-►-s 1 $5‘)51) BANK Tou)r.) CUM:Z• No. TYPE I TYPE. 2 CASB'ER" --PlIC5* '65 . 1° .1...0 .- 5o too " 5 1 o 2 '; 50 ioo PI4E.N11. N.B. Pikb`,1 - ci 44` TI4DTAP5eN - KNIGHT /222.8 • 974"/ 4/.332 .5-441 YORK - 'No PAP or-1 /03,8154488 /8,2/0 /2..ebo3 •,.ei/G. ME.C1APA ■C.5 N•13. ?Roy. r, 1 0 0 "I IIARRtilaTo “e FA MiRl i..1 4"ro T.1 S'59,54 3825'6 /0341 2988 9'.96. 1;''420 /85,5 59.5" I ST K.B. OF 5 voT1-4 C 1 CI-0 4■Lig 5thaits 1035 SE.PG tz.N4 Q • Espo.1° LETT /380o ' 3722 _ ______ -, elit612.;∎•JE.- SWEET 38 28 88 8 3412 97/ I \ 5"W 1N' 14.15" 1154- AIWA? 115o HILL- L r i3R164 5 •508.9 23_52. 6.60 14ILL-ceLig. 372 6. 36, / 32 1AILL- R • L.Loyo'acticqs 96.8 4/_ 4 44 ? 2 094. 54 75' , cewrat vtt_i-e. 14 •v. .:. F WP.P.U.) lc...4. willi Lona- WICK 1284- Po!) p, km 5c.1.1 e *NITFoRD 76'72 217,2 3241 /.5-6 5 72070 37953 7578PRoN 1 13 EN cE N.B. PRov. 1302 1?) INCTI q- -Pt E RcE 352'//6 /87432 517848 115L-rac.1L.›Tb 0 e C.RN kt- K . la>. \144 Ma 13ao.,3 ,-4 - PL.R,2.-r 38074 /7$92 6 1-1o•oi..4.10-Pi..Ro-r 4/728 4' 3/942. ,5 V 338664. /6 85.9 3835 N .O. 09 Co tat NERCO PRo`l• 1344 FE RR./ - \No...coy. 31/5756 4„,,,,,, N. b. 09 CO.A ■-le.g CC £ 7R.A3 5-r Co. PERI:0i - LUt %_ co y._ 5/i56 33552 7.38a 12_'eNt4 - tthL..c.c.7(_ 26376 55'791-i 5373/ 2354 9 1\1 ew e.fkr- N .-E) 13f.u.$ - is,,,,„. 1 412 -rQ. \.) a 5 - 5..g.s.,,F.0-1 / 2 1/,/ il z r 891 .2 01,40 aec Li / 4 0 8 STE %.I Lts, - C A Fis n, /G.,i7y 2:.)-'5.4, 576 4.20 -I/ 8 l_.%\le.e.s? - CrokR. - - ' /1/72 - A 900:3 14 f-C.a- 1..1• Ey, -IN „,,, t, e 5„,,,,,,„ co , Wt.w- Pear ,.... II' 4 T)-ko A - 1(t /850/(p 50. 7 i i 8 MA o IA P 'Sr> J -1-tAgq E`i CA? Rt. v..1 E V1/41E.'D-V . 5.25152 R.I. VI c...m>t-rTIL t∎1.' • ?Rol. 13901 55/ 9. 70 IgZao 2/858 4510 i /6,// COL V MI5%) S 1\1•b• ?Rol. 13181 lE_IRARt.Th 2. Scw..A C'Voo 9810 7''575' _1 4/07-&-s 2, 3 4 5 9 lo 1 1 TJ C.31 algitif,1419114.0.1e1741.% F000099ANT NEWPORT NATIONAL SANK NEWPORT' RHODE ISLAND •. PAY r, ger utu or. COW,. FIFTY 11011Altti F000699A Page 58 7 . The Blackstone Canal NB of Providence, ch. 1328, is another seemingly uninteresting bank, because after the Providence NB it is the one whose notes show up most often. There was an officer change in the type I issuing period, and both Brown/Plant and Howland/Plant signed notes. We pick up three here, bringing the total to 80. 8. And now, the gem of the group—a bank title change and an officer change—the result, more different notes, twelve, than any other bank. In January, 1931 the bank title changed from the NB of Commerce of Providence to the NB of Commerce and Trust Co. of Providence, both ch. 1366. The officer change occurred in 1933 and the Perry/ Wilcox combination was replaced by Ryan/Wilcox. Both signed type I notes, so we pick up six on this bank. The new total is 86. There is no question in my mind that this is the most interesting of all of the banks. When you see a ch. 1366 note it will most likely be a common one, but don't make the mistake of not looking closely. A fair in -between note 9. Another very interesting bank is the Newport NB of New- port, ch. 1492. This bank is the other one that issued $50 & $100 type I notes. To top it off there was an officer change and both issued notes, so we pick up five here. Be- fore the issuance of type II notes Stevens/Carr were re- placed by Livesey/Carr, but only $5 notes were issued, so we lose two. The new total is 89 (86 + 5 — 2). This bank can boast of three of the four lowest quantity issued notes in the entire small-size collection: a. Stevens/Carr $100 type I, 48 notes—none known. b. Stevens/Carr $50 type I, 120 notes-2 known. c. Stevens/Sherman $100 type I, 168 notes- 1 known. (The fourth is Ashway's Hill/Cole $20 type I, 132 notes- 1 known.) 10. The Aquidneck National Exchange Bank and Savings Co. of Newport, ch. 1546, has a long title, but is short on notes. Only $5 notes were issued. There are two different signa- ture combinations for type I notes, and only one type II note, resulting in a saving of three notes. New total, 86. 11. Rhode Island Hospital NB of Providence, ch. 13901, is the only bank that issued $50 & $100 type II notes. No type I notes were issued by this bank. With regards to the amount of dollars issued, $2,381,910, this bank ranks second in the state. The outstanding notes reported in 1935 shows $1,603,750, the highest in the state, but for reasons un- known to me, there are a very limited amount of notes available. We stay at status quo on this one, total 86. 12. The Columbus NB of Providence, ch. 13981, was the last national bank to be chartered in Rhode Island; it issued on- ly type II notes. This bank has the runner-up spot for low dollar issuance with only $124,000. We don't gain or lose any notes on this one. Final total 86. Paper Money Whole No. 140 Most of the credit for determining the exact amount of notes issued by each officer combination is due to Steve Whitfield's ef- forts in digging into the National Archives records for the ship- ment invoices to the specific banks, and also to Peter Huntoon who helped him in this task. Prior to the locating of these in- voices, it was a tedious and never-ending process of recording the highest serial number seen of the first signature combination, and the lowest serial number of the other combination. Much help was received from Steve, Frank Bennett and Dick Balbaton in this original effort, and also in helping me locate needed notes. Many thanks also to another RI collector (who prefers to remain anonymous) for sharing much of his information. The chart shows the breakdown of officer combinations, and the amounts of specific notes issued by each. My collection has 63 of the possible 86 notes. In view of the fact that I have added only four notes to my collection in the last five years, at this rate it will take me about 29 years to complete the collection. These remaining, missing notes are going to be more difficult to find, so, as you can see, I need lots of help from you guys. Otherwise, I'll never get my "piece of cake." BANK CHARTER DOLLARS ISSUED 1. —Ashaway NB 1150 $ 86,430 2. —Columbus NB 13981 124,000 3. —Centreville NB 1284 148,930 4. —Newport NB 1492 321,900 5.-1st NB Smithfield 1035 322,320 6. —NB Commerce 1366 444,780 NB Commerce & Trust 1366 1,274,150 7. —Mechanics NB 1007 1,317,650 8. —Aquidneck N Ex. B. & Say. 1546 1,442,080 9. —Blackstone Canal NB 1328 1,657,860 10. —Phenix NB 948 1,731,580 11. —RI Hospital NB 13901 2,381,910 12. —Providence NB 1302 5,540,000 $16,793,590 Correspondence welcomed: P.O.Box 7033, Cumberland, RI 02864 NK Happenings From The Banker's Magazine ■ Submitted by Bob Cochran HEARTILY INDORSED J. Pierpont Morgan amused a group of clergymen with a story about a minister. "He was ignorant, this good man, of fi- nancial matters," said Mr. Morgan, "as the average financier is ignorant of matters ecclesiastical. He once received a check— the first he had ever got in his life—and took it to a bank for pay- ment. "'But you must indorse the check,' said the paying teller, returning it through his little window. "'Indorse it?' said the old minister, in a puzzled tone. "'Yes, of course. It must be indorsed on the back.' "'I see', said the minister. And turning the check over he wrote across the back of it: "'I heartily indorse this check.'" Paper Money Whole No. 140 Page 59 Air Force Hero Commemorated on a Banknote by LEE POLESKE The year is 1941. A fighter pilot sacrifices his life in order to successfully complete his mission. Thirty-five years later, his nation honors him by placing his portrait on a banknote. The pilot—Jose Abelardo Quitiones. The na- tion — Peru. The banknote —the 1976, 500 soles de oro note (P-115a). The war—the 1941-42 border conflict between Peru and Ecuador. HE WAR GREW out of boundary disputes between the two countries dating back to the 1800s when they became in- dependent. The main area in dispute was the Amazon River basin of eastern Ecuador, covering some 120,000 square miles. Neither country was willing to compromise and increas- ingly frequent skirmishes between border patrols led to an all- out war in July 1941. While the disputed border was in the east, most of the fighting took place along the more heavily populated Pacific coast. Early in July the Ecuadorian army launched an attack across the Zarumilla River into Peru. an attack quickly stopped by the larger and better equipped Peruvian forces. The Peruvian military command then made plans for a mas- sive counter-offensive to drive the Ecuadorians off Peruvian soil and to occupy Ecuador's El Oro province. The counter-offen- sive was to begin on July 23. Ecuador's Air Force had been neutralized early in the war, so the roll of the Peruvian Air Force in the offensive was to provide reconnaissance and tactical sup- port for the army. Among the air force units stationed in the main combat area was the XXI Fighter Squadron commanded by Lieutenant Commander Antonio Alberti. One of the pilots in the squadron was Jose Quinones. Quinones was born in the coastal town of Pimentel in 1914. He started his schooling at Chicalayo, but was sent to Lima to complete his secondary education. Overcoming his parents' in- itial opposition, he entered Peru's Air Force Academy in 1935. He made his first solo flight after only five hours and forty minutes of flight instruction, a record never equalled at the Academy. He graduated in 1939 as a second lieutenant and was given the Ala de Oro (Golden Wing) award as the best fighter pilot in his class. He was promoted to first lieutenant in January 1941. At the outbreak of the war his unit was stationed at Tumbes and it played an active role in the war from the beginning, bombing and strafing enemy positions. The XXI Fighter Squad- ron was divided into three escadrilles: the 41st, 42nd and 43rd. Each escadrille had three pilots. The 41st, Quinones' unit, was equipped with North American NA-50s, armed with twin .30 caliber machine guns. The aircraft were also equipped to carry bombs under their wings, so they could act as dive bombers. The 42nd and 43rd were equipped with Italian Caproni 114s. The mission of the 41st Escadrille, in the counter-offensive, was to destroy the enemy strong point at Quebrada Seca. The Ecuadorians had concentrated their artillery there, protected by machine gun nests and anti-aircraft guns. Lt. Commander Alberti led the 41st in its attack on Quebrada Seca. Two dive bomb attacks were planned; during the first, Quinones' aircraft, which he had named Pantera (Panther) was hit by anti-aircraft fire. As flames enveloped his craft, Quinones, rather than bailing out, aimed it at the largest concentration of enemy artillery, which was destroyed by the impact of the crash. His fellow pilots completed both their runs and the Ecuadorian position was completely silenced. The counter-of-fensive was a success and Peruvian forces continued to push further and fur- ther into Ecuador. Josè' QuiCiones (1914 - 1941) Peruvian air force hero as he ap- pears on the 1976, 500 soles de oro banknote of Peru (P-115a) The Green Goods Game Conducted by Forrest Daniel Page 60 With the expansion of World War II, the United States and the major South American powers put pressure on Peru and Ecuador to end the war, so the American nations could concen- trate on the larger world struggle. In January 1942, Ecuador was persuaded to sign the Ri6 Pro- tocol, a peace treaty, guaranteed by Argentina, Brazil, Chile and the United States, which gave Peru around 5,000 square miles of the disputed Amazon basin, and made other minor ad- justments in the border between the two countries. A boundary commission was established to draw the new border, but Ecua- dor, unreconciled to its defeat, has refused to this day to accept as final, certain parts of this border. After the action at Quebrada Seca, Quinones was posthu- mously promoted to captain and given the Cruz Peruana de AuiaciOn (Peruvian Aviation Cross). Years later the Peruvian Air Force Command designated July 23 to be celebrated each year as Air Force Day. Paper Money Whole No. 140 There are two varieties of the 500 soles de oro banknote. on which Quinones appears. The main difference between the two notes is that the July 22, 1976 issue (P-115a) was printed by IPS Roma and the March 2, 1982 issue (P-115b) was printed by the English firm of Thomas de la Rue. The signatures on the notes are also different. Due to inflation the 500 soles note was replaced by a coin in 1984. Instead of Quinones, Admiral Miguel Grau. a naval hero of the War of the Pacific (1879-1883), appeared on the new coin. Bibliography Pick, Albert. (1986). Standard Catalog of World Paper Money. Vol. 11, 5th ed. Iola WI: Krause Publications. Prada, E.P. Alberto FernZndez. (1966). La Aviackin en el Peru. Primer tomo 1751-1942. Lima. Tauro, Alberto. (1975). Diccionario Enciclopedico del Pert; (apendice), Lima. SPLITTING TEN-DOLLAR BILLS Baltimore Sun: A new departure in the way of counterfeiting money was brought to light at the United States sub-treasury in Baltimore a few days ago. A somewhat torn $10 government bill was presented at the cashier's window with a request for change, which was given. The note was sent to Washington as mutilated currency, and was returned with the information that one side of the note was good, but the other side was a well executed counterfeit of the original. It was found that a $10 bill had been split, the face being separated from the back, a seem- ingly impossible undertaking. The original face with a counterfeit back had been used, and it is quite likely that a genuine back with a well executed face had been passed in some other quar- ter. The portion of the note was worth exactly its proportion of the whole, or in other words, $5. More recently another $10 "face" was presented at the cash- ier's window, with a similar request for change. The clerk at the window, suspecting the bill, told the man who handed it in to wait a moment until he could consult Dr. Bishop, the sub- treasurer. Dr. Bishop recognized in the note the familiar game, and said it was worth $5. When the clerk returned to the win- dow, however, the man had left without waiting for his change. The sub-treasury, which was out $5 on the first transaction was evened up by the second. This system of manipulating paper money is perhaps one of the most dangerous forms of swindling ever attempted. One or more genuine "faces" mixed with several whole notes would be liable to deceive expert bank tellers. The face bearing undoubted proof of genuineness, very few would be apt to examine the backs of all the notes, unless something in the feel of the paper might arouse suspicion. Then should any one, especially if not so expert as a bank-teller, happen to strike the counterfeit side and have his doubts about the notes, a glance at the other side would possibly set to rest all questions. — Wood County Re- porter, Grand Rapids, Wis., Oct. 21, 1886. (Comment: The foregoing item is especially interesting to the compiler because since the inception of this column he has wished he could reprint a remembered item from an old printing trade journal. The item described a formula, or method, for splitting sheets of bond paper; it ran, probably in Graphic Arts Monthly, about forty-five years ago. The process could be applied to splitting bank notes to produce transparencies to aid production of counterfeit plates in the manner suggested by the work of primitive photographer William Henry Fox Talbot. (PM, May/June, 1979.) No report of that use has been found to date, but it cannot be discounted since this item shows bank notes were split.) LITTLE BOGUS MONEY AFLOAT Washington, July 2. —The annual report of Chief Wilkie of the Secret Service division, submitted today to Secretary Shaw, shows that during the year there were arrested 573 persons charged with various offenses against federal statutes. New York leading with eighty-five prosecutions. Of the offenders, 413 were of American birth, the next largest number of offenders being Italians. Sixty-three per cent. of those arrested were con- victed. The report records the fact that during the fiscal year but one dangerous spurious note was put in circulation, a $5 certificate, while there was only one other even passable counterfeit, a $1 silver certificate whose makers with their complete plant were captured in Chicago the same day they attempted to put one of their notes in circulation. Reference is made to the continued activity among criminals who make the "raising" of notes a specialty, and it is pointed out that this crime might be prevented by the adoption of a distinc- tive size for the notes of smaller denomination — the $1 and $2 notes to be an inch shorter and one-half inch narrower than the $5 and others. — Republican and Leader, La Crosse, Wis., July 2, 1902. Paper Money Whole No. 140 Page 61 Railroad Notes and Scrip of the United States, the Confederate States and Canada by RICHARD T. HOOBER (Continued from PM 139, Page 20) TENNESSEE ATHENS —HIW ASSEE RAILROAD 1. 1.00 (L) Medallion head, 1 above and below. (C) Train, between medallion heads. (R) Medallion head, 1 above and below. R6 2. 3.00 (L) Train. (C) Female seated, ship and train. (R) Medallion head. Date — Nov. 15, 1841, part ink. Imprint — Underwood, Bald, Spencer & Hufty, Philada. Danforth, Underwood & Co. New York. R6 CHATTANOOGA — ALABAMA & CHATTANOOGA RAILROAD COMPANY The following Meal Tickets were, in all probability, also used as scrip along the line. 3. 200 (L) Sheep, gold 20. 4. 25q (L) Chickens, green 25. R5 5. 33-1/3C (L) Ducks, red Thirty Three & 1/3 cents. R5 Date—None. Imprint — National Bank Note Co. New York R5 Tennessee No. 5 KNOXVILLE—EAST TENNESSEE & GEORGIA RAILROAD COMPANY The company was chartered February 4, 1848, and its main line from Knoxville to Dalton, Georgia, 110 miles, was opened July 10, 1855; the Chattanooga extension, 30 miles, was com- pleted in 1858. On November 20, 1869, this road and the East Tennessee were consolidated, running 130 miles from Bristol to Knoxville, to form the East Tennessee, Virginia & Georgia Railroad. Prior to 1886, the line acquired eight other lines, totalling 1,104 miles. On July 7, 1894, the line, totaling over 1,200 miles, was purchased at foreclosure and became part of the Southern Railway. IL.41111.1.001* RECEIVABLE I PAYM NT Of ALL DUES TO THIS COMPANY. Page 62 Paper Money Whole No. 140 6. 50 (L) FIVE CENTS. (C) Train, red FIVE CENTS below. (R) FIVE CENTS. R5 7. 100 Similar to No. 6, except denomination. R5 a$tz„.;7 : „ 6 Yue Vite ei'actul or A * . . thoxo,11.- , 3unt 20, ISE" - TEN CENTS. NTS. 4c TEN CENTS. x TEN CENT Tennessee No. 7 8. 250 Similar to No. 6, except (C) Deer. R5 9. 500 Similar to No. 6, except denomination. R5 10. 750 Similar to No. 6, except denomination. Date—June 20, 1862. Imprint—Haws & Dunkerley, Prs. Knoxville. R5 LAGRANGE— LAGRANGE & MEMPHIS RAILROAD COMPANY This road was planned to link LaGrange to the Mississippi River at Memphis. After six miles were built, the original company abandoned the project. Tennessee No. 11 11. 1.00 (L) Sailing vessel, 1 above and below. (C) Commerce and Ceres. (R) Riverboat, 1 above and below. R6 THIS TICKET FO I\62 Tennessee No. 17 Paper Money Whole No. 140 Page 63 12. 5.00 13. 10.00 14. 20.00 No description. No description. No description. Date — 184-, part ink. Imprint — Draper, Toppan & Co. Phila. & New York. R7 R7 R7 MEMPHIS—MEMPHIS & CHARLESTON RAILROAD COMPANY In 1869 the road ran from Memphis to Chattanooga (running over the tracks of the Nashville & Chattanooga Railway, and from Stevenson to Chattanooga, a distance of 38 miles). The line became incorporated with the Tuscumbia & Decatur of Alabama, and subsequently was part of the Southern Railway. 15. 5(C (L) FIVE CENTS. (C) Red FIVE. (R) 5, FIVE above and below. R5 16. 10 ,T Similar to No. 15, except denomination. R5 17. 25C (L) Train in star, 25 above, XXV below. (R) 25. R5 18. 501Z (C) Green trains, between 50s. Date — Jan. 15, 1862. Imprint — None R5 MEMPHIS —SELMA, MARION & MEMPHIS RAILROAD 19. 5.00 (L) Men picking cotton, FIVE above. (C) Brown 5. (R) Train, 5 above. Ornamen- tal green reverse. 3rd Series, 1873. R5 20. 5.00 Similar to No. 19, except 4th Series, 1874. R5 21. 20.00 Similar to No. 19, except denomination. R6 22. 20.00 Similar to No. 21, except 5th Series, 1875. Date—April 25, 1873, 1874, or 1875. Imprint—Henry Seibert & Bros. Ledger Building Cor. William & Spruce St. N. Y. R6 (To be continued) in PAPER MONEY, Coin AUSTIN M. SHEHEEN, JR. lives in South Caro lina where he was born, educated and married. He is a graduate of the U. of South Carolina where he was an adjunct professor during 1987-88. As a CPA he is a managing partner in a Camden, SC firm and holds key positions in organizations related to his profes- sion. Mr. Sheheen is the president of the SC Association of CPAs. He also serves as a director of two SC banks. During his military career he flew more than 3,000 hours and was honorably discharged as a 1st lieutenant. In 1960 Mr. Sheheen wrote South Carolina Obsolete Notes. Since then he has written articles op bank notes and tokens of SC. For three years he owned and operated the Bank Note Re- porter. Austin is a member of over 12 numismatic organizations and is a past president of the Camden, SC Coin Club. The SC Numismatic Association selected him as the Most Outstanding Numismatist in 1977 and its First Honorary Life Member in 1986. In 1983 he received the ANA Medal of Merit for securing the second largest collection ever donated to the ANA. Austin is continuously active in civic, professional and numismatic organizations. WENDELL WOLKA is running for the Board of Governors and brings along quite an extensive record of exper- ience with the organization. First involved over a decade ago as li- brarian, he has gone on to serve in a number of capacities including: President, Governor, Wismer Book Project Chairman, Patrons Association Chairman, Election Committee Chairman and Mem- ber, Awards Committee Chairman and Member. If elected, Wendell is interested in assuring that the SPMC's finan- cial footings are sound, that the SPMC membership continues its recent good growth, and that the SPMC fosters good rela- tionships with all sectors of our hobby—dealers, collectors, and sister organizations alike. Only five candidates have been nomi- nated, consequently, the secretary will cast one vote to elect these members by acclamation. Page 64 Paper Money Whole No. 140 CANDIDATES FOR SPMC BOARD CHARLES G. COLVER is a current member of the SPMC Board of Governors. He has been an avid collector of national bank notes for many years, specializing in California notes. He sponsored several regional meetings of the SPMC in Los Angeles. Active in the ANA, Charles has served as assistant chief judge for the past ten years. He was a candi- date for the ANA board at the last election. As immediate Past-Presi- dent of California State Numisma- tic Association, he remains very ac- tive in that organization. Charles also does considerable writing and speaking on the subject of paper money and other aspects of the hobby. He was appointed to the U.S. Assay Commission in 1974 and also led in the crusade to preserve the Old San Fran- cisco Mint. He received the first Numismatic Ambassador award from Krause Publications in 1974 and now heads that program. Charles is a graduate of Chaffey College, a research manager for U.S. Forest Service, Mayor of the City of Covina and a com- bat veteran of World War II. Colver and his wife Mary have been married for 40 years and have three children. MILTON R. FRIEDBERG, a native of Pennsylvania who now resides in Ohio with his wife, is a collector of fractional currency and ancillary items such as scrip, payable-in-postage- currency and encased postage. As vice president of the Fraction- al Currency Collectors Board (FCCB) he has prepared compu- terized catalogs for the FCCB membership. Mr. Friedberg has also computerized lists for the Sou- venir Card Collectors Society. He is author of the Encyclopedia of Fractional and Postal Currency, for which he received the Robert Friedberg Award from the PNG in 1978. His articles have appeared World and the Bank Note Reporter. Mr. Friedberg holds two degrees in engineering from Cleve- land State U. As an engineer, consultant, director and founder, he has been affiliated with 15 American companies; nine patents are registered in his name. Milt is a member of and has held offices in numerous hobby and vocational organizations and is currently a consultant in the fields of telecommunication and management. DEAN OAKES, was born, raised and educated in Iowa. He graduated from the University of Iowa with a degree in business in 1961. A coin collector since 1949, he started collecting Iowa national bank notes in 1957. At the ANA Convention in 1970 he captured the first place Amon Carter Paper Money Award. The Standard Catalog of Nation- al Bank Notes was compiled with John Hickman, his partner in a na- iio tional bank note business. An active paper money dealer since the early 1960s, a life member of the ANA, past-president of the Iowa Numismatic As- sociation, Dean authored the SPMC Iowa Obsolete Notes & Scrip, and serves as the SPMC treasurer. MEMBERSHIP DIRECTOR NEW Ronald HorstmanP.O. Box 6011St. Louis, MO 63139 MEMBERS Paper Money Whole No. 140 SPMC Speaker at FUN President Roger Durand presents a plaque to Dr. Nelson Page Aspen, SPMC Governor, for his presentation, "Small-size Red Seal Notes" at the FUN Convention in January. (Photo by the Petersons) 7730 Gwaine W. Ton, P.O. Box 751802, Memphis, TN 38175- 1802; D. 7731 Glenn McDonald, 8400 Felton Ln., Alexandria, VA 22308; C. 7732 Howard M. Berlin, P.O. Box 9431, Wilmington. DE 19809: C, Palestine Mandate. 7733 Herman Halpern, 19 N. Saddlebrook Drive, Ho-Ho-Kus, NJ 07423. 7734 Randall W. Ockerman, 4673-E Prichard Pl., Ft. Knox, KY 40121; C, CSA, obsolete & large-size U.S. notes. 7735 Dick Naven, 6802 SW 33rd Place. Portland, Oregon 79219; C&D, Books on banks & U.S. financial history. 7736 Timothy W. Mjoen. 5106 Bradford Rd., Jacksonville, FL 32217; C, Large-size ND nationals. 7737 James W. Killion. 1275 Rock Ave. A-11, North Plainfield, NJ 07060; C, Demand and interest-bearing notes, and gold certifi- cates. 7738 Louis Tucci, 24 South Baldwin PI Massapequa, NY 11758; C. Fractional currency. 7739 William H. Pheatt, P.O. Box 72-ii57. Berkley. MI 48072; D. LM85 Robert Shawn Hewitt; Conversion to life membership from #5473. LM86 Mark A. Sims; Conversion to life membership from #6042. LM87 Walter G. Fortner; Conversion to life membership from #7661. LM88 Don Ketterling; Conversion to life member from #6438. LM89 Alan J. Moser; Conversion to life member from #5002. Page 65 Call for Exhibits The 13th International Paper Money Show will be held in Memphis, TN, June 23-25. Those interested in dis- playing an educational, paper money-related exhibit should contact Mart Delgar, Exhibit Chairman, 323 Dawnlee Ave, Kalamazoo, MI 49002. The deadline for exhibitors is May 10, 1989. 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 Auction "Paper Money" Magazines Complete run of Paper Money maga- zine from 1st issue (winter of 1962) through Nov./Dec. 1983 in 14 vol- umes bound in red. The older volumes are faded. Some issues have writing in them but all are whole as are bindings. Highest bid by April 25th, 1989. Suc- cessful bidder pays shipping costs. In- quire of and send bids to: Warren Henderson 841 Golden Beach Blvd. Venice, Florida 34285 (813) 488-5941 WANTED: ARTICLES FOR PAPER MONEY mon L9 P'' mar Paper Money will accept classified advertising from members only on a basis of 15( 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) Page 66 Paper Money Whole No. 140 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.O. 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) 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) WANTED: I will pay $100 for a CU, $1 FRN with serial number 00088888. Any series. Any block. Jim Lund, 2805 County Rd. 82, Alexandria, MN 56308. SELLING OKLAHOMA NATIONALS: Altus, Ardmore, Chandler, Chickasha, Durant, Mangum, McAlester, Miami, Muskogee, Nowata, Oklahoma City, Purcell, Sapulpa, Shawnee, Tahlequah. Other states (specify). Free lists. Joseph Apelman, P.O. Box 283, Covington, LA 70434. WANTED: I will pay $100 for a CU, $1 FRN or a small-size CU, SC with serial number 00099999. Any series. Any block. Jim Lund, 2805 County Rd. 82, Alexandria, MN 56308. (143) PA NATIONALS WANTED: Johnstown, Hooversville, Davidsville, Somerset, Kittanning, Ford City, Windber, Boswell, Central City, Ben- son, Bedford, Dale, South Fork, Spangler, Jerome, Stoystown, Cairn- brook, Confluence, Garrett, Dayton. Also send list of PA Nationals, large or small. Joseph Shaffer. RD #1, Box 86, Hooversville, PA 15936. MEETING AT CENTRAL STATES CONVENTION SPMC will hold a joint meeting with the Interna- tional Bank Note Society on April 22 followed by an educational program on World Paper Money at the Central States Numismatic Society 50th Annual Convention, Kansas City Merchandise Mart, Over- land Park, Kansas. For information, contact John Wilson, P.O. Box 27185, Milwaukee, Wisconsin 53227, (414) 545-8636. KALAMAZOO, MICHIGAN NATIONALS WANTED. Also want Michigan Nationals with serial number ONE and Michigan cancelled checks prior to 1900. Jack Fisher, 3123 Bronson Blvd., Kalamazoo, MI 49008. (140) NUMBER 1 and 11111111 UNITED STATES type notes wanted and unusual United States error notes. Jack Fisher, 3123 Bronson Blvd., Kalamazoo, MI 49008. (140) KUWAIT 1960 NOTES in regular issue and specimen, also want Jor- dan, Saudi Arabia and scarce Middle East notes. Jack Fisher, 3123 Bronson Blvd., Kalamazoo, MI 49008. (140) CANADA WANTED. 1923 $2 all signatures and seals. Low serial numbers 1935 Bank of Canada and Canada specimen notes. Jack Fisher, 3123 Bronson Blvd., Kalamazoo, MI 49008. (140) STOCK CERTIFICATES & BONDS — buy and sell! Current catalog of interesting certificates for sale, $1. Buying all—but especially interest- ed in early Western certificates. Ken Prag, Box 531PM, Burlingame, CA 94011, phone (415) 566-6400. (149) WANTED: NORTH CAROLINA OBSOLETE CURRENCY, SCRIP, BANK ITEMS AND CONFEDERATE ITEMS. Single items or collections. Send description and price. Jim Sazama, P.O. Box 1235, Southern Pines, NC 28387. (143) OHIO NATIONALS WANTED: Also want Lowell, Holland, Tyler, Ryan, Jordan, O'Neill. Private Collector. Lowell Yoder, P.O. Box 444, Holland, OH 43528. (142) WANTED FOR my personal collection, large and small-size national currency from Atlantic City. NJ. Don't slip, write first with what you have for sale. Frank Iacovone, P.O. Box 266, Bronx, NY 10465-0266. (140) ALASKA SCRIP, CLEARING HOUSE CERTIFICATES, NA- TIONALS AND TOKENS WANTED. Describe or ship with your price or for my offer. Ron Benice, 25 Stewart Place, Mount Kisco, NY 10549. (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) Paper Money Whole No. 140 Page 67 11 1 N r,,!' , ., II 11 1 01 1,, I , I ir , 1 110/11), WE ARE ALWAYS BUYING N, ■ FRACTIONAL CURRENCY ■ ENCASED POSTAGE ■ LARGE SIZE CURRENCY ■ COLONIAL CURRENCY WRITE, CALL OR SHIP: 71 ,t21 ,DILI _•. • .cunT-tus ..- tit inc. LEN and JEAN GLAZER (718) 268-3221 POST OFFICE BOX 111 FOREST HILLS. N.Y. 11375 _ )(11•I'l'''.. 1"tit 1 , \ pF Rt )- 1( ) ,\I.. $, ( 01 1.1 ( 1 ( )11•1 (1/ rs.c I Charter Member WANTED BUYING WANTED We are especially anxious to purchase the following UNITED STATES NOTES for the personal collection of AUBREY AND ADELINE BEBEE. The acquisition of any of these scarce notes will bring our outstanding paper money collection nearer to completion. We would be grateful for any notes that you could send us in the grades specified. Please send notes, indicating the prices desired or for our Top Cash offer. A quick, pleasant deal is always assured you at BEBEE'S. GOLD CERTIFICATES — AU TO UNC. 1882 $50 Large Red Seal. FR. 1191 1882 $100 Large Red Seal. FR. 1204 1882 $100 Brown Seal. FR. 1203 1882 $100 Lg. Brown Seal. FR. 1205 SILVER CERTIFICATES 1880 $1,000 FR. 346B/D AU to UNC. 1891 $1,000 FR. 346E VF to UNC. 1899 $1, #11111111; 22222222, #77777777; 88888888 UNC. 1882 $5.00 NATIONAL BROWN BACK NOTES BEBEE'S is paying $600 to as high as $2,000 — depending on Rarity and Grade — for the following 1882 $5 Brown Back Nationals: ALABAMA - ARIZONA - ARKANSAS - CALIFORNIA - COL- ORADO - FLORIDA - IDAHO - MARYLAND - MISSISSIPPI - MONTANA - NEVADA - NEW MEXICO - NORTH DAKOTA - RHODE ISLAND - SOUTH DAKOTA - WYOMING. AU to UNC. TERRITORIAL NATIONALS 1882 $5 ARIZONA - IDAHO - WYOMING. AU to UNC. (Second Choices: Other Denom., Grades.) We are also paying TOP IMMEDIATE CASH prices for Double-Denomination Notes, Other Territorials, Rare Large-Size Nationals, No. 1 & Star Notes, and Uncut Sheets (4 & 12) Please give us a try — BEBEE's has been a leading specialist in U.S. Paper Money since 1941. AUBREY & ADELINE BEBEE P.O. Box 4290, Omaha, NE 68104 • (402) 558-0277 Sell Your Coins & Currency 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. Mani: of ant= eaa 1", 0• „EIGHTEE2 N PENCE. • Al , y Gne, Eightm, it-ncr 4: I CY .4 Page 68 Paper Money Whole No. 140 aft- EIGHTEEN PENCE. CH...MO 3 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. Subscription Information: U.S & CANADA OVERSEAS One Year 1Nvo Years Three Years One Year TA, 0 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 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 Lort_ „. 011: Of 17IREDBOLLARS ///:, /7.4,k/ /. = Ti C01.01,170 MINI. 1.:1,011NO 0,11,NY. a// ,/, ,/a /w/f/ /v/ -aa, 2/ ,//.70ear a /4/ oew /v. ,./a///,//y/ K, OICORPOPWrID LIXOE11 THE LAWS, STATE Of COLORADO •' - 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 $1.00 - REFUNDABLE Send For Our Catalog Today! OREGON PAPER MONEY EXCHANGE 6802 S.W. 33rd Place, Portland, OR 97219 (503) 245-3659 (EVES) BUYING PAPER MONEY Nationals, Errors, Type Notes, Stars, Number 1 & 2 Notes, Radars, Solid Num- bers, Ladders. Ship with confidence or write for our offer. We pay more for quality unmolest- ed material. ROBERT and DIANA AZPIAZU%p.) l"" P.O. Box 1565 St. Augustine, FL 32085-1565 (904) 797-8622 Paper Money Whole No. 140 Page 69 BUYING and SELLING PAPER MONEY U.S., All types Thousands of Nationals, Large and Small, Silver Certificates, U.S. Notes, Gold Cer- tificates, Treasury Notes, Federal Reserve Notes, Fractional, Continental, Colonial, Obsoletes, Depression Scrip, Checks, Stocks, etc. Foreign Notes from over 250 Countries Paper Money Books and Supplies Send us your Want List ... or ... Ship your material for a fair offer LOWELL C. HORWEDEL P.O. BOX 2395 WEST LAFAYETTE, IN 47906 SPMC #2907 ANA LM #1503 WE NEED TO BUY If you are selling a single note or an entire col- lection, you will be pleased with our fair offer — NO GAMES PLAYED HERE! (Selling too! Write for free catalog.) Subject to our inventory requirements we need the following: ALL WORLD BANK NOTES Also U.S. Large Size Notes U.S. Encased Postage All Military Currency Souvenir Cards U.S. Fractional Currency National Bank Notes Colonial Currency U.S. Small Size Currency Ship With Confidence or Write We pay more for scarce or rare notes. TOM KNEBL, INC. (714) 886-0198 P.O. Drawer 3949 San Bernardino, CA 92413 CZ It IAN A. MARSHALL P.O. Box 1075 Adelaide St. P.O. Toronto, Ontario Canada, M5C 2K5 WORLD PAPER MONEY Also World Stocks, Bonds and Cheques 416-365-1619 tr 4i, %Art i; dri ninp I COLLECT MINNESOTA OBSOLETE CURRENCY and SCRIP Please offer what you have for sale. Charles C. Parrish P.O. Box 481 Rosemount, Minnesota 55068 SPMC 7456 LM ANA Since 1976 ci-11 Rif ttl t1 tlallitt$ MYLAR D CURRENCY HOLDERS This month I am pleased to report that all sizes are in stock in large quantities so orders received today go out today. The past four years of selling these holders has been great and many collections I buy now are finely preserved in these. For those who have not converted, an article published this past fall in Currency Dealer Newsletter tells it better than I can. Should you want a copy send a stamped self-addressed #10 business envelope for a free copy. Prices did go up due to a major rise in the cost of the raw material from the suppliers and the fact that the plant work- ers want things like pay raises etc. but don't let a few cents cost you hundreds of dollars. You do know—penny wise and pound foolish. SIZE INCHES 50 100 500 1000 Fractional 4 3/4 x 21/4 $14.00 $25.25 $115.00 $197.50 Colonial 5 1/2 x 3%4 15.00 27.50 125.00 230.00 Small Currency 6%x 2% 15.25 29.00 128.50 240.00 Large Currency x 3 1/2 18.00 33.00 151.50 279.50 Check Size 9% x 4 1/4 22.50 41.50 189.50 349.00 Baseball Card Std 2 3/4 x 3 3/4 13.00 23.50 107.50 198.00 Baseball Bowman x 4 14.00 25.50 117.00 215.00 Obsolete currency sheet holders 81/4 x 14, $1.10 each, mini- mum 5 Pcs. SHIPPING IN THE U.S. IS INCLUDED FREE OF CHARGE Please note: all notice to MYLAR R mean uncoated archival quality MYLAR R type D by Dupont Co. or equivalent mater- ial by ICI Corp. Melinex type 516. DENLY'S OF BOSTON P.O. Box 1010 / Boston, MA 02205 Phone: (617) 482-8477 Page 70 Paper Money Whole No. 140 INC. P.O.BOX 84 • NANUET, N.Y 10954 #11111111 thru 99999999 and #00000001 WANTED ONE SIORIPAIOLIALI. 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 Obsolete Stocks • Bonds • Checks • Coins Stamps • Gold • Silver Platinum • Antique Watches Political Items • Postcards Baseball Cards • Masonic Items Hummels • Doultons Nearly Everything Collectible COIN SHOP EST. 1960 INC " 141 /1491.0% Bidyikt" 399 S. State Street - Westerville, OH 43081 1-614-882-3937 1-800-848-3966 outside Ohio SEND FOR OUR COMPLETE PRICE LIST FREE (.7 Life Member Fractional Foreign Paper Money Whole No. 140 Page 71 BUYING / SELLING • OBSOLETE CURRENCY, NATIONALS UNCUT SH EETS, PROOFS, S RIP BARRY WEXLER, Pres. Member: SPMC, PCDA, ANA, FUN, GENA, ASCC (914) 352.9077 About Derurrnination.s By *ger .9-1. Durand This new profusely illustrated book covers the history of over a hundred denominations used on notes during the state banking era. This book is a MUST for the obsolete bank note collector. $18.95 + $1.05 P&I ROGER H. DURAND P.O. Box 186 Rehoboth, Mass. 02769 Announcing • . Criswell's Compendium 89! This catalog is 436 pages pro- fusely illustrated and is spiral bound. It lists Confederate cur- rency and bonds. Southern States currency and bonds, slav- ery material, documents, rail- roadiana, stocks, certificates and much, much more! Due to the costs of producing such an extensive catalog, we have to charge $5.00 for it to help recoup some of said costs. However, you get, with the cata- log, a credit slip good for $5.00 off on an order of $25.00 or more! 9 Comp ndtum^:- PAPER MONEY . .•••■-cx 1.(1 • <,•••••■.. oaoktes .c.awas OLO STOCKS & BONDS' AUTOGRAPN$::' " f•••■•■• OSTAL HISTORY • taitrOn••11 7 tat. 9411,1 WV/It, 410.• ARMY - NAVY - MARINE ITEMS0/1 4....“1,■0••• , .4+ nu. sr, rac•ITEMS SLAVERY MATERIAL • tut a fr....* •••••■••0 OEV.,.•11 SOSTOMS ITEMS INKS - REFERENCE WORKS anlotaa 140•tv. •••■1,•■•••• •¢TO., A COINS. MEDALS, SEALS, & PAPERS TO• • CRISWELL'S FT. McCOY FL 32637-9537 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 Page 72 Paper Money Whole No. 140 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 Scarce mules wanted! Please ship. $2 Legal Tender 1928C back plates higher than 289 $5 Federal Reserve 1934A back plates less than 939 $5 Legal Tender 1928C and D back plate 637 other scarce mules, any denomination Peter Huntoon P.O. Box 3681 Laramie, WY 82071 FRANCE WANTED! c59074151 Please help me build my collection. I need the following notes and will pay top collector prices to acquire them. May I hear from you soon? • Important Type Notes from about 1750 to date. • Specimen Notes AU or better. • World War I and II Locals — these can be Chambers of Commerce, Merchants, Factories, Mines, etc. • Encased Postage Stamps — even some very common pieces are required. • Postcards that show French Banknotes. I am a very serious collector of these items and have been known to pay some sky-high prices for needed items. Priced offers are preferred as I can't tell you what you should get for your material! Finders fee paid for successful referrals! If possible please provide me with a photo-copy of item(s). R. J. BALBATON P.O. BOX 911 NORTH ATTLEBORO, MASSACHUSETTS 02761.0911 Tel. 1-508-699-2266 Days 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. CUSTOMER stno ■10.1 John Hickman Nichman Oakes Ructions ,inc. Dean Oakes nc. Purveyors of National Bank Notes & U.S. Currency to the collecting fraternity for over 20 years: Niditnan- Oakes Auctions, ith 36 sales behind us, we look forward to a great 1989 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 years 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. CuTency collecting is alive and well. Our November auction is in the planning stages now; watch for further details. There will be hundreds of lots of U.S. and national currency in each sale. Join others in experiencing the true market between buyer and seller at a Hickman-Oakes auction. Write, or call 319-338-1144 today! As a seller: Our commission rate is 15% and down to 5% (depending on value of the lot) with no lot charge, no photo charge, in fact no other charges. As a buyer: When bidding and winning lots in our auctions you are charged a 5% buyers fee. As a subscriber you receive at least 4 auction catalogs and prices realized after the sale, plus any price lists we put out, and all by 1st class mail. If you send us $8 now, we will send you the June Memphis convention auction catalogue and prices rea- lized plus our other auction catalogues and price lists through June of 1989. Send $8.00 now, you won't be sorry. Drawer 1456 joiva Cit Iowa 52240 319-338-1144