Paper Money - Vol. XXVIII, No. 3 - Whole No. 141 - May - June 1989

VOL. XXVIII No. 3 WHOLE No. 141 MAY/JUNE 1989 M. OWEN WARNS 1902 1989 IN MEMORIAM M. OWEN WARNS 1902 - 1989 M. Owen Warns, one of the progenitors of the fascination with and the collecting and study of national bank notes, died on 25 February 1989 at the age of 86. The National Bank Note Issues of 1929 - 1935 by Peter Huntoon and Louis van Belkum, a book that Mr. Warns edited, was the ember that continued to grow with XVIII supplements in PAPER MONEY. For these and other articles, collectors of small-size national bank notes are indebted to Owen. Charter member no. 35, Mr. Warns was a founding member of the SPMC; he served on the board of governors (1965-1977) and was treasurer (1969-1975). In 1985 he received the Nathan Gold Award for his pioneer work related to small-size national bank notes. Mr. Warns was born on 18 October 1902 in Toledo, Ohio. He graduated from Columbia University (College of Pharmacy) and New York Universty (School of Merchandise Statistics). During World War II he served as a Senior Lt. with Fleet Wing 15. Mr. Warns is survived by his wife Charmaine and a sister. (This page courtesy of Richard J. Balbaton) SOCIETY OF PAPER MONEY COLLECTORS INC. Inquiries concerning non-delivery of PAPER MONEY should be sent to the secretary; for additional copies and back issues contact book coordinator. Addresses are on the next page. Paper Money Whole No. 141 Page 73 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. Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XXVIII No. 3 Whole No. 141 MAY/JUNE 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 A HISTORY OF THE BANKS OF THE CITY OF HUDSON, NEW YORK by Robert R. Moon 77 CORRECTION 82 SUTLER PAPER — by Kenneth Keller 83 UPDATED CENSUS — THE SURVIVING 1918 $50 FEDERAL RESERVE BANK NOTES by Michael A. Crabb, Jr. 89 THE CASE OF THE CAGEY COUNTERFEITER by Brent Hughes 90 RAILROAD NOTES & SCRIP OF THE UNITED STATES, THE CONFEDERATE STATES AND CANADA by Richard T. Hoober 92 SUPPLEMENTS TO NO. 135 AND NO. 138 (ed.) 95 SOCIETY FEATURES INTEREST BEARING NOTES 94 LIBRARY NOTES 95 NEW LITERATURE 95 MONEY MART 96 ON THE COVER: M. Owen Warns 1902-1989; see inside back cover. Society of Paper Money Collectors OFFICERS PRESIDENT Roger H. Durand, P.O. Box 186, Rehoboth, MA 02769 VICE-PRESIDENT Richard J. Balbaton, 116 Fisher Street, N. Attleboro, MA 02760 SECRETARY Robert Cochran, P.O. Box 1085, Florissant, MO 63031 TREASURER Dean Oakes, Drawer 1456, Iowa City, IA 52240 APPOINTEES EDITOR Gene Hessler, P.O. Box 8147, St. Louis, MO 63156 MEMBERSHIP DIRECTOR Ron Horstman, P.O. Box 6011, St. Louis, MO 63139 BOOK SALES COORDINATOR Richard Balbaton, 116 Fisher Street, N. Attleboro, MA 02760. WISMER BOOK PROJECT Richard T. Hoober, P.O. Box 196, Newfoundland, PA 18445 LEGAL COUNSEL Robert J. Galiette, 10 Wilcox Lane, Avon, CT 06001 LIBRARIAN 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 : All clot h bound books are 8 1/2 x 11" ALABAMA OBSOLETE NOTES & SCRIP, 1984 Rosene $12.00 Non-member price $15.00 ARKANSAS OBSOLETE NOTES & SCRIP, 1985 Rothert $17.00 Non-member price $22.00 FLORIDA PAPER MONEY, ILLUSTRATED HISTORY OF, (softcover) 1980 Cassidy $16.00 Non-member price $19.50 INDIANA OBSOLETE NOTES & SCRIP, 1978 Wolka $12.00 Non-member price $15.00 INDIAN TERRITORY/OKLAHOMA/KANSAS OBSOLETE NOTES & SCRIP, 1980 Burgett and Whitfield $12.00 Non-member price $15.00 IOWA OBSOLETE NOTES & SCRIP, 1982 Oakes $12.00 Non-member price $15.00 MAINE OBSOLETE PAPER MONEY & SCRIP, 1977 Wait $12.00 Non-member price $15.00 MINNESOTA OBSOLETE NOTES & SCRIP, 1973 Rockholt $12.00 Non-member price $15.00 NEW JERSEY'S MONEY, 1976 Wait $15.00 Non-member price $20.00 PENNSYLVANIA OBSOLETE NOTES AND SCRIP (396 pages), Hoober $28.00 Non-member price $29.50 RHODE ISLAND AND THE PROVIDENCE PLANTA- TIONS, OBSOLETE NOTES & SCRIP OF, 1981 Durand $20.00 Non-member price $25.00 TENNESSEE-THE HISTORY OF EARLY TENNESSEE BANKS AND THEIR ISSUES, 1983 Garland $20.00 Non-member price $29.50 TERRITORIALS-A GUIDE TO U.S. TERRITORIAL NATIONAL BANK NOTES, (softcover) 1980 Huntoon $12.00 Non-member price $15.00 VERMONT OBSOLETE NOTES & SCRIP, 1972 Coulter $12.00 Non-member price $15.00 Write for Quantity Prices on the above books. 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 74 Paper Money Whole No. 141 tats oPeY Paper Money Whole No. 141 Page 75 Peease take potz, NEW! 7th EDITION AVAILABLE NOW 19.95 plus postage and handling The most comprehensive, up-to-date illustrated guide to U.S. paper money from 1812 to date. In this updated, expanded edition you'll get: • New 1988 market data • Note portraits identified, a new feature to this edition Yes! I want to up-date the value of my collection with the assistance of Standard Catalog of United States Paper Money Send me copies of the Standard Catalog of United States Paper Money, 7th Ed., for $19.95 plus $2.50 shipping and handling, per book. (Foreign addresses, send $4.50 for shipping and handling. Payable in U.S. funds.) • Complete coverage for 175 years of official paper money circulated by the Federal Government • Listings for more than 5,500 currency items • 14,000 market values, presented in up to three grades • Historical and economic background information for each major section • Complete National Bank Note Listings, with rarity ratings for each bank • Over 600 photos, for easier identification • 192 pages of detailed coverage • In-text cross referencing of Krause/Lemke and Friedberg numeric systems • Attractive, durable 81/2" x 11" hardcover format This book available from your local hobby dealer or direct from the publisher. Krause Publications Book Order Dept. IYF 700 E. State St., Iola, WI 54990 (715) 445-2214 State Zip MONEY-BACK GUARANTEE 10 Day Free Return Privilege ( ) Check or money order (to Krause Publications) 1 800-258-0929 1 Department IYF Monday-Friday, 8 am - 5 pm CST • ( ) MasterCard ( ) VISA !Credit Card No I Expires: Mo. Yr I Signature I Mail with payment to: I Krause Publications, Catalog Order Dept. IYG700 E. State St., Iola, WI 54990 11==l1M11111=1111MMUNIIIMIIMMMMIMM. Name Address City Amount for books Shipping Total amount enclosed Charge Card Orders SAVE TIM E Use Our Toll-Free Number IYF Page 76 Paper Money Whole No. 141 • MEMPHIS COIN CLUB'S 13th ANNUAL INTERNATIONAL PAPER MONEY SHOW June 23, 24, 25, 1989 COOK CONVENTION CENTER 255 N. Main Street, Memphis, TN 38103 (901)576-1200 4 4 DISCOUNT ON NORTHWEST AIRLINES I Convention Hotel: CROWNE PLAZA 250 N. Main St., Memphis, TN 38103 / 901-527-7300 Back-Up Hotel: SHERATON MEMPHIS 300 N. Second St., Memphis, TN 38105 / 901-525-2511 Bureau of Engraving & Printing's Billion Dollar Exhibit Spider Press Demonstration American Bank Note Company Exhibit U.S.P.S. Temporary Postal Station Commemorative Souvenir Cards Auction by NASCA Division of R.M. Smythe & Co., Inc. Society Meetings For bourse information and room reservation cards, write: Mike Crabb Box 17871, Memphis, TN 38187-0871 Phone 901-754-6118 Atter 6:00 p.m. EXHIBIT CHAIRMAN Martin Delger 323 Dawnlee Avenue Kalamazoo, MI 49002 Phone 616-343-1783 Atter 6:00 PM 52 Paper Money Whole No. 141 Page 77 A History of the Banks of the City of Hudson, New York by ROBERT R. MOON, SPMC 5766 This article is the third in a series on the history of banking in Columbia County in New York state. It deals with banking in the largest community, the county seat, of Columbia County. EARLY HISTORY OF HUDSON T HE CITY OF HUDSON derives its name from Henry Hudson,the Dutch explorer who discovered the river in 1609 thatalso bears his name. Originally, the area of land from which the future city would be a part, was named Claverack Landing by the original Dutch settlers. The circumstances that resulted in the establishment of the ci- ty involved a pair of brothers, Seth and Thomas Jenkins, who had moved west from Providence, Rhode Island in order to create a new profitable seafaring community. The brothers pur- chased a tract of land on the east bank of the Hudson River from descendants of the first Dutch settlers and named the area Hud- son in November 1784. They proceeded to lay out a street plan for the city and were given a charter by Governor George Clin- ton on April 22, 1785 with Seth Jenkins appointed the first mayor. By 1786 the population had reached 1,500 and includ- ed 18 inns and 150 houses. Whaling, sealing, fishing and shipbuilding were among the early industries and contributed to the success of the new com- munity. In 1805, Hudson became the county seat of Columbia County and by 1810, the population had reached nearly 5,000. EARLY BANKS Hudson's first bank, the Bank of Columbia, got its start in 1793, opening for business near the foot of Warren Street (the then and still "main street" of Hudson) in a building later known as the Hosmer House. The first president was Seth Jenkin's brother, Thomas. The bank's capital stock was initially paid in Spanish Milled Dollars; the U.S. Mint was still two years away from minting sizeable quantities of large-denomination coins. The bank moved in 1803 to the corner of Second and Warren Streets and later to 231 Warren Street. The economic growth of Hudson soon spawned a banking competitor. The Bank of Hudson opened in 1808 with John C. Hogeboom as president. He was succeeded shortly thereafter by Seth Jenkins. Initially, both banks did well, but the recession and decline in shipping caused by the War of 1812 was to prove their undoing. The Bank of Hudson went under in 1819. Many local businesses failed, causing a severe depression in the Hud- son area in the early 1820s. As a result of the bad economic times, Hudson suffered its only population decline of the nine- teenth century. The Bank of Columbia hung on for several more years but, in 1829, it too closed its doors. A RESURGENCE OF BANKING The City of Hudson found itself with no banking facilities as the 1830s began. The revived whaling industry, along with new economic growth, required a new local bank. Accordingly, a group of local businessmen headed by Oliver Wiswall, who also served as Mayor of Hudson in 1827 and 1828, formed the Hudson River Bank on June 30, 1830 and for $3,000 pur- chased the building at 231 Warren Street from the receiver of the Bank of Columbia. Mr. Wiswall was to eventually serve as president of the bank for 30 years. The Farmers National Bank building was built in 1872; it was destroyed by fire in November 1926. Page 78 Not burdened by the many bad debts of the old banks, the new Hudson River Bank flourished and, as would be expected, another competitor came along. On January 26, 1839, the Farmers Bank of Hudson opened for business with Elihu Gifford as the first president. One of the original members of the Board of Directors was Jacob Ten Broeck, the first of several members of the Ten Broeck family who eventually would serve on the bank's board over the next 120 years. These two banks were commercial banks, however, and the growth in the community produced conditions that were ripe for a savings bank. Preliminary work began in 1849 and a special act was introduced in the New York State Legislature the follow- ing year to incorporate a bank known as the "Hudson City Sav- ings Institution." The act was passed and signed by the governor on April 4, 1850. The first president was Robert A. Barnard, who had been a founder of the Hudson River Bank twenty years earlier. The first secretary-treasurer was Josiah W. Fair- field in whose offices the bank first opened for business at 234 Warren Street. It finally moved into its own building at 230 War- ren Street in 1866. Paper Money Whole No. 141 Opening day for the new savings bank had been October 7, 1850 but an interesting event occurred three weeks later on Oc- tober 28. On that day, Account No. 8 was opened by Mrs. Mary M. Bliss, described as a farmer's wife. This transaction had more significance than would appear on the surface, as it had been only a short time previously that women had been legally enti- tled to the absolute ownership and possession of money and property. Under a state law passed in 1848, women and children were granted the right to the "full and exclusive enjoy- ment" of bank accounts and other property. Prior to that time, if a woman opened an account in a bank, she was aware of the fact that the money could be claimed at any time by her father if she were single or by her husband after marriage. At the time of the organization of the savings bank, the word "institution" was adopted instead of the word "bank" because considerable suspicion was attached to the latter name. Many savings banks prior to the Civil War took this same action. In- terestingly, all savings banks in New York state have since changed their names with one exception—the Hudson City Savings Institution. One of the reasons for this distrust of banks was the paper money situation. With many of the bank notes in circulation at The National Hudson River Bank building ca. 1870. Stephen DuBois, president of the bank between 1868 and 1872, is standing at the far right. Paper Money Whole No. 141 that time of dubious value or authenticity, a natural wariness of banks was to be expected. This situation, along with the finan- cial demands of the Civil War, led the federal government to create the national banking system. THE NATIONAL BANKING ERA Surprisingly, the first bank in Hudson to take advantage of the new National Banking Act was not an existing bank but a new organization. The First National Bank of Hudson applied for and received Charter 396 in March of 1864. The first president was Josiah W. Fairfield who was also secretary-treasurer of the Hudson City Savings Institution. It was not uncommon in those Page 79 days for an individual to be an officer in more than one bank at the same time. Mr. Fairfield would serve as president until short- ly before his death in 1877. The first cashier was Peter S. Wynkoop who received a salary of $1,200 per year. The bank's first office was located in the City Hall Building at the corner of Warren Street and City Hall Place. In 1865 Hudson's two existing commercial banks became the Farmers National Bank with Charter 990 and the National Hud- son River Bank with Charter 1091. The local residents really did not notice much of a change except that the value of paper cur- rency was certainly of less concern and that the banks were sub- ject to more stringent requirements under federal laws. Well-worn but rare. Original Series $2 note. Only 3,000 $2 notes were issued by the Farmers National and fewer than 24 remained by the mid-1880s. Series of 1902, Date Back $10 note signed by Cashier Jordan Philip and President Charles W. Macy. The New Farmers National Bank building erected in 1927-28. It now houses the Hudson office of Key Bank N.A. A PERIOD OF CALM The commercial banks and one savings bank in Hudson took up a relatively stable existence for the next fifty years. The Farmers National Bank moved into a new building at 544 Warren Street in 1872. The new structure was one of the tallest buildings in Hudson and an electrical light display on the roof would be used as a beacon during the Hudson-Fulton celebration of 1909. The National Hudson River Bank remodeled its facilities at 231 War- ren Street, but then moved to a new building at 520 Warren Street in 1907. The Hudson City Savings Institution continued this "uptown" trend by moving to its own new building at 560 Warren Street in 1909 and would be followed in 1922 by the First National Bank when it, too, moved into a new building across the street from Hudson City Savings. Page 80 Paper Money Whole No. 141 Original Series $1 note signed by Cashier Aaron B. Scott and President Henry A. DuBois. wrawanvomosONT11411$101:01 , K0 STATES FAMER ICA Series of 1902, Date Back $10 note signed by Cashier Jordan Philip and President Charles W. Macy. EPA INUST COIPAE I It DSON a NEW WM.. FIVE IMMILAIIS A043499 396 r 411FILWICIER4li. ILILitiatfit A NEW ADDITION Before the First National Bank's move, however, in 1911 Hud- son added a fifth banking facility. The impetus behind this addi- tion was the substantial cement industry in the Hudson area. Because of the large limestone deposits nearby, cement plants had been set up on the outskirts of Hudson in the nineteenth century. With the taking over in 1909 of the Hudson Portland Cement Company by the New York & New England Cement and Lime Company, a subsidiary of the Atlas Portland Cement Company, a great influx of new citizens descended upon Hud- son requiring an increase in housing. W. E. Miner, who was treasurer of the New York & New England Co., met with Henry R. Bryan, publisher of the Hudson Republican newspaper and the local postmaster, to discuss the idea of forming a Savings and Loan Company to help these new people finance their homes. Miner and Bryan met with several other people and, in the spring of 1911, the Hudson Savings and Loan Association was formed. Delbert Dinehart, who was also president of the National Hudson River Bank at that time, was the first president and the first office was opened in the quarters of the Hudson Republican. ANOTHER CHANGE Mr. Dinehart's Hudson River Bank was undergoing changes at this time. In the early part of this century trust powers were not available to nationally-chartered banking institutions. The bank's board of directors felt that they could enhance their position in the community by access to these powers and so, in April 1912, gave up their national charter and became the state-chartered Hudson River Trust Co. The board had also asked the Farmers National Bank to join them in forming the trust company but was turned down. Mr. Dinehart remained as the president and, aside from a name change, customers of the bank noticed no other differences. A few years later, national banks were al- lowed to form trust companies and in 1928, the First National Bank became the First National Bank and Trust Company. One other event of note during the 1920s occurred in November of 1926. On the night of the 24th, the Farmers National Bank building was destroyed in a spectacular fire. However, a tem- porary office was opened within 24 hours in the old quarters of the First National Bank and was used until a new building was completed at the old site in January 1928. Series of 1929, Type II $5 note signed by Cashier John R. Evans and President Henry Galster. DEPRESSION ERA TURMOIL Perhaps the fire was a harbinger of things to come; the Great Depression was just around the corner and the banking industry in Hudson would not emerge unscathed. While the Farmers Na- tional Bank and the two savings banks would suffer very little, the First National Bank and the Hudson River Trust Co. were particularly hard hit. The first incident occurred in 1932. During early January of that year, a rumor circulated throughout the ci- ty that a large customer of the First National Bank was unable to Post card view of the First National Bank of Hudson building shortly after its completion in 1922. meet its mortgage payment. A church had taken out a sizeable mortgage during the 1920s which was to be paid back from the parishoners' offerings. Since many of the parishioners had been laid off from their jobs, it was assumed that offerings would be down and therefore the mortgage payment would not be met. Considering the climate of the time, people felt that if this large loan went bad the bank would be in trouble, and so would their deposits. Accordingly, a run started on the bank. The rumor proved to be unfounded, but only assistance from the Federal Reserve Bank kept the First National Bank from running out of funds to pay depositors. The first National Bank escaped this time, but another problem followed a year later. A B 7306 B A P a A 541 7-1-31: 406 1* 1-412" B 7306 *-6.5'54.44 V 8 7X6 tf;,611,75 ; e .75Z.53 2 a **4,001.5z 4*4.4.124.66 ,/t4,76 A 4.97; V 2 a *4.7,5.92 A 0 7506 .4.783.9" 2 B *441104 2 1)‘, i )N. N PLE'ASK fttt t, I- P f,Y,, R A personal side to the depositor's troubles during the Depres- sion. The passbook of the author's great, great uncle showing 40% of the money removed on February 27, 1934. Note the first two installments of 10% each returned to the depositor on October 15, 1934 and June 1, 1935. Paper Money Whole No. 141 Page 81 In April 1933 President Roosevelt declared the bank holi- day—closing all of the banks in the country. While most of the banks around the country were given quick approval to reopen, one bank in Hudson was not. The First National Bank was found by the national bank examiners to be in some difficulty and would have to go through a period of reorganization before it could open its doors again. When the bank finally reopened in October 1933, a few changes had been made. Jordan Philip, president of the bank since 1915, had been replaced by Dr. Henry Galster. Edward L. Tanner, cashier of the bank also since 1915, had been replaced by John R. Evans, who had been brought in from outside the area to stabilize the bank. The depositors, however, suffered the biggest change. In July of that year they had to agree to give up immediate access to 38% of their money and received, instead, a Certificate of Participation. Without this agreement the bank would have been forced to close altogether. Over the next thirteen years the depositors were gradually reimbursed from the so-called "38% fund" (without interest) as money was realized from the bank's assets that had been placed in the "doubtful" category. By 1946, the depositors had received most of their money. A similar fate was to strike the Hudson River Trust Co. In late 1933 all local banks in Hudson filed for approval to be covered by the new FDIC insurance, which would take effect on January 1, 1934. When the Hudson River Trust failed to get approval, the State Banking Department closed the bank on January 2, 1934, and their depositors went through the same situation that the First National's customers had endured the year before. The Trust Co. reopened on February 26, 1934, but its depositors had to give up the right to withdraw 40% of their money and received their own Certificates of Participation. As with the First National, the depositors had to wait a while before seeing the Na rest of their money. The other three banks in Hudson managed to weather the storm. The Farmers National Bank under Henry James, a former state assemblyman and long-time publisher of the Hud- son Daily Star, who became bank president in 1932, grew to become the largest commercial bank in the county. The Hudson Savings and Loan Association, which moved into its own building at 419 Warren Street in 1935, and the Hudson City Savings Institution also made it through these trying times with little difficulty. THE MERGER ERA The 1940s, with the war effort in effect, was a quiet period for Hudson banks, but the booming post-war economy and the move into branch banking were to permanently change the financial landscape in the 1950s. The first local bank to pass from the scene was the Hudson River Trust Co. when it became the 11th branch of the National Commercial Bank and Trust Co. of Albany on August 4, 1952. Both National Commercial and the State Bank of Albany, the two "big banks" from the state capital, then set their sights on Hudson's other two com- mercial banks. Of course, this wasn't just a case of two predators stalking their prey. There were decided advantages for a small independent bank to merge with a much larger entity. For in- stance, the employees of the smaller bank were usually allowed to count their accumulated time toward the larger bank's pen- sion plan. Since most of these independents gave little or no pensions beyond the proverbial gold watch, this was definitely a good arrangement. More specifically, in the case of the Hudson area, the expanding economy required banks to have larger re- sources than those at hand. When the local hospital embarked on an expansion in the early 1950s, three of the local banks had Page 82 to combine their funds in order to finance the undertaking. One of the Albany banks would have had no trouble putting the package together by itself. While being courted by the suitors from Albany, the First Na- tional and the Farmers National began branch banking of their own. The First National Bank established a branch in German- town in the southern part of Columbia County in February 1955. This was the first banking facility in Germantown since the closing in January 1932 of the controversial and short-lived Germantown National Bank. The Farmers National Bank established a branch in Copake in the southeastern corner of the County in December 1953 and then purchased the Philmont National Bank in February 1955. However, the two "in- dependents" would not be around for long. In December 1955 the First National Bank became part of the State Bank of Albany which picked up First National's office in Hudson and the new one in Germantown. The Farmers National Bank lasted a little longer. In March 1959 its stockholders voted to become part of National Commercial Bank. National Commercial then faced a slight dilemma in that it now had offices at both 520 Warren Street and 544 Warren Street (less than 150 feet apart!). The problem was solved by constructing a new building in the adja- cent town of Greenport and transferring the old Hudson River Trust Co. office there in 1961. The old office at 520 Warren Street is now the Hudson City Hall. After corporate reorganiza- tions in the 1980s, National Commercial Bank is now known as Key Bank N.A. and the State Bank of Albany is now Norstar Bank of Upstate New York. The Hudson Savings and Loan Association, which had moved to 507 Warren Street around 1950, was the next local bank to go when it merged with Home Savings Bank of Albany in 1974, which in 1981 became Home and City Savings Bank. Hudson was then left with one local bank, the Hudson City Sav- ings Institution, which, after a brief flirtation with Dime Savings Bank of New York in the early 1980s, remains the only in- dependent bank in Hudson and now has six offices of its own. SYNGRAPHIC ANALYSIS OF THE NATIONAL BANKS OF HUDSON The availability of national currency from the banks of Hudson runs from rare to fairly well known. Understandably, the Na- tional Hudson River Bank, which ceased issuing notes in 1912 when it gave up its national charter, is the scarcest Hudson bank when it comes to locating an example. So far, the existence of only four notes from the bank has been confirmed—two Original Series Aces, one of which appeared as both lots 2267 and 3396 in the Grinnell sale and the other, pictured here, an Original Series $10 (S/N 1440-C), and according to John Hickman, a Series 1902 Date Back $10 (S/N 697). Because of the outstanding balance of $30,374, even in October 1912, a few more examples should turn up but these four are the only specimens that are known to the general collecting fraternity. The story is a bit different regarding the First National and the Farmers National. Both banks issued notes virtually throughout the national currency era and they had reasonably healthy outstanding balances in 1935 (the First National with $200,000 and the Farmers National with $50,000). While Hickman & Oakes' Standard Catalog of National Bank Notes classifies both large-and small-size notes from the Farmers National Bank in the R5 (three to five notes known) category, enough new specimens have come to light since the book's publication in 1982 to change both sizes to the R4 (six to eleven known notes) rating. One of the new notes from this bank is a First Charter Deuce, which surfaced in early 1988. What is remarkable about Paper Money Whole No. 141 this new find is that not only did the Farmers National Bank issue just 3,000 Lazy 2s between 1866 and 1874 but, according to the Currency and Bond Ledgers held at the National Ar- chives, less than 25 were still outstanding as long ago as 1886. Hickman and Oakes classify the First National Bank in the R3 (12 to 24 notes known) category for both large- and small-size notes. There are at least 15 notes each of large-size and small- size, so the notes from this bank are definitely not rare. There are a couple of worthwhile observations to note, however. Despite a large number of notes issued during the First and Sec- ond Charter periods, none of these have surfaced. All of the ap- proximately 15 large-size notes known are Third Charter with one Red Seal (a $20 with S/N 2687, which appeared as Lot 164 in Donlon's 10th Mail Bid Sale). One other type of First Na- tional note also appears to be rare. In April of 1928, the bank changed its name to the First National Bank and Trust Company and issued large-size $5s with this title for just one year, until mid-1929, when the new small-size notes were introduced. Just one of these large-size notes with the second title is known so far and is pictured in this article. As mentioned before, there are at least 15 small-size notes known and they are fairly available in the marketplace. ACKNOWLEDGMENTS My appreciation is extended to the following individuals: John Hickman for sharing his census data on Hudson banks with me; Terry Matchette of the National Archives for her assistance in my research through the Currency and Bond Ledgers; Charles Brewer, manager and vice- president of Norstar Bancorp in Hudson; Raymond Kennedy, publisher emeritus of the Hudson Register-Star; Stanley Rushkoski, manager of Key Bank in Copake; and Rowles Studio of Hudson for providing the early photographs for this article. SOURCES Bradbury, A.R. (1908.) History of the city of Hudson, New York. Hud- son, NY: Record Printing & Publishing Co. Conversations with John Hickman and Stanley Rushkoski. Currency and bond ledgers of the Comptroller of the Currency at the National Archives, Washington, D.C. Ellis, F. (1878.) History of Columbia County. Philadelphia, PA: Everts & Ensign. Farmers National Bank 75th anniversary booklet. (1914.) Hickman, J. & D. Oakes. (1982.) Standard catalog of national bank notes. Iola, WI: Krause Publications. Hudson City Savings Institution Centennial booklet. (1950.) Hudson Daily Star. (1932 -34, various issues.) Hudson Savings & Loan 25th Anniversary booklet. (1936.) Moon, R.R. (17 May 1985.) Banks have lent cash, character to the city. Hudson Register-Star. CORRECTION (No. 135, May/June 1988, p. 76) An incorrect assumption was made in the editorial addenda to Ron Horstman's "Greenbacks . . After reexamination of the photograph—the $50 note was not available—there is faint evidence of an overprint. An ab- sence of an overprint was thought to represent notes made from old plates. In addition, Walter Breen's "Promises, Promises" in Numismatic News Weekly, 26 February 1974, was reread. Consequently, old and new plates probably apply to plates with and without "For the" (U.S. Treasury officials) engraved into the plate. and deduct ti Kivroved by Of Conap a Connecticut *Paymaster Order 1st Conn. Heavy Artillery A.H. Daniels Paymaster Order 4th Reg't. Conn. Vol. E. Bliss Jr. To dw Psymtster of the 1st Cosh. 1101t.NAL1111 RECEIVED , PLEASE PAY A. II. DA:NIELS, S-LITI.; Paper Money Whole No. 141 Page 83 Sutler Paper by KENNETH KELLER S INCE the time of the Roman legions, perhaps earlier,peddlers have followed the soldiers to supply them withpersonal needs. From the American Revolutionary War until 1866, these purveyors were called Sutlers. In 1866 Post Traders were authorized; ultimately the Post Exchange of today came into existence. During the Civil War the shortage of coins, due to hoarding, created a problem for the Sutler. With little or no small change among the soldiers—they were paid in paper money—it was necessary for the Sutler to improvise; he made change for purchases with his own metal tokens, cardboard chits or paper scrip. There was no standard Sutler issue for any of these; each Sutler chose the type and design that served his need. In 1946 James Curto published a list of "Sutlers and Their Tokens" in The NUMISMATIST, followed in 1959 by a "Sup- plemental List." In 1983 David E. Schenkman published an ex- cellent book, Civil War Sutler Tokens and Cardboard Scrip. A number of issues have been discovered since Mr. Curto com- piled his lists. Now, I am attempting to list all known Sutler paper, which also includes Paymaster Orders. These were used to extend credit to the soldiers until pay day. On that awaited day, the Sutler would sit at the Paymaster's table and collect the amount due to him before each soldier received the balance of his pay. Sutler paper scrip was issued in various denominations, most often from 2( to 50(; some larger amounts are known. Some were ornately printed vignettes, others were simply typeset. Some were the size of paper money of the period, others were much smaller. If you have any Sutler paper, I would appreciate receiving photocopies. Send to: Kenneth Keller, 9090 Kinsman-Pyma- tuning Rd., Kinsman, OH 44428. In return I will send you the most current list of Sutler paper. A CURRENT LIST OF SUTLER PAPER DENOMINATION UNIT SERVED ISSUER TYPE Alabama 5 Cents 50 Cents 50 Cents 25 Cents Arkansas 25 Cents 50 Cents 2 Dollars 50 Cents 23rd Ala. Reg't. 23rd Ala. Reg't. 34th Ala. Reg't. Maj. Warren's Battalion 2nd Ark. Inf. 2nd Ark. Inf. 3rd Ark. Inf. Armstrong's Cavalry Brigade House of Kahn & Bros. House of Kahn & Bros. Adams & Yager Adams & Yager Adams & Yager S.P. Lewis Georgia 5 Cents 5 Cents 10 Cents 25 Cents 50 Cents 1 Dollar 2 Dollars 1 Dollar *Illustrated 17th Georgia Reg't. 30th Reg't. Ga. Vols. 30th Reg't. Ga. Vols. 30th Reg't. Ga. Vols. 30th Reg't. Ga. Vols. 30th Reg't. Ga. Vols. 30th Reg't. Ga. Vols. 40th Reg't. Ga. Vols. --Rice B.A. Wright (?) B.A. Wright (?) B.A. Wright (?) B.A. Wright (?) B.A. Wright (?) B.A. Wright (?) A.M. Franklin CI1A744 E • fr/iiir the, ittrivniiretiairel: /he /, 4.4;',,::y 7,7 ee. /7 iz..r/e1(•x•(..5:441 .er • ,;(4-1: . • CE Page 84 Paper Money Whole No. 141 DENOMINATION UNIT SERVED ISSUER TYPE Georgia (Continued) 10 Cents 25 Cents 50 Cents 1 Dollar 2 Dollars 1 Dollar 10 Cents 25 Cents 25 Cents 50 Cents Illinois 25 Cents Indiana 5 Cents 25 Cents 50 Cents 1 Dollar 25 Cents 50 Cents 36th I.V. 36th I.V. 36th I.V. 36th I.V. 79th Regiment Indiana 79th Regiment Indiana B.A. Wright (?) B.A. Wright (?) B.A. Wright (?) B.A. Wright (?) B.A. Wright (?) A.M. Franklin J.W. Daniel J.W. Daniel Volunteers Volunteers 30th Reg't. Ga. Vols. 30th Reg't. Ga. Vols. 30th Reg't. Ga. Vols. 30th Reg't. Ga. Vols. 30th Reg't. Ga. Vols. 40th Reg't. Ga. Vols. 43rd Georgia Regiment 43rd Georgia Regiment 63rd Reg't. Ga. Vols. 63rd Reg't. Ga. Vols. 26th Reg't. Illinois Volunteers George Davidson George Davidson George Davidson George Davidson Iowa Paymaster Order Paymaster Order Kentucky 5 Cents 10 Cents 50 Cents 1 Dollar Louisiana 25 Cents 50 Cents Maine 5 Cents 10 Cents 25 Cents 50 Cents Paymaster Order Massachusetts Paymaster Order 25 Cents 50 Cents *1 Dollar Paymaster Order Paymaster Order 5 Cents 5 Cents 10 Cents Paymaster Order 3 Cents 15 Cents 5 Cents 11th Iowa Volunteers 33rd Iowa Inf. Sutlers' Bank of Columbus Sutlers' Bank of Columbus Sutlers' Bank of Columbus Sutlers' Bank of Columbus Sutler's Exchange Sutler's Exchange 1st Div. Zed Brg. 1st Div. 2ed Brg. 1st Div. 2ed Brg. 1st Div. 2ed Brg. 23rd Maine 1st Reg't. Mass. Vols. 14th Mass. Reg. Heavy Art. 14th Mass. Reg. Heavy Art. 14th Mass. Reg. Heavy Art. Co. K. 17th Reg't. V.M. Co. K. 17th Reg't. V.M. 25th Mass. Vols. 30th Co. Mass. Heavy Art. 30th Co. Mass. Heavy Art. 36th Mass. Vols. 44th Reg. Mass. Vols. 44th Reg. Mass. Vols. 52nd Reg. Mass Vols. H.Q. Jennison & Whitney Scott McGee L.E. Richards L.E. Richards F. McCabe F. McCabe F. McCabe F. McCabe A.F. Jackson James L. Jones H.B. Sheldon H .B. Sheldon H.B. Sheldon W.N. Dustin J. Taylor Henry 0. Clark William Hill William Hill C.A. Wheelock C. Hunt C. Hunt Wm. F. Gunn ----- Kr-el* firlifilr65)(;itis:- ei:epiniirideel" fiC1 I1 MS or TWO 15QUARS,:77- Paper Money Whole No. 141 Page 85 DENOMINATION Michigan Paymaster Order Paymaster Order 25 Cents 50 Cents 1 Dollar Paymaster Order Mississippi 25 Cents 50 Cents 1 Dollar Missouri 1 Dollar 2 Dollars New Hampshire Paymaster Order Paymaster Order New Jersey 2 Cents 3 Cents 5 Cents 10 Cents 15 Cents 25 Cents 2 Cents 3 Cents 5 Cents 2 Cents 3 Cents Paymaster Order Paymaster Order 1 Cent 2 Cents 5 Cents UNIT SERVED 7th Reg't. Mich. Cay. 7th Reg't. Mich. Cay. 14th Mich. Inf. U.S.A. 14th Mich. Inf. U.S.A. 14th Mich. Inf. U.S.A. 29th Mich. Infantry Army Miss. The Army of Mississippi The Army of Mississippi Col. White's Reg. Gen. Rains 8 Brg. of Warrensburg Co. D 8th N.H.V. 14th Reg. N.H. Vols. 1st Reg't. N.J.V. 1st Reg't. N.J.V. 1st Reg't. N.J.V. 1st Reg't. N.J.V. 1st Reg't. N.J.V. 1st Reg.'t. N.J.V. 3rd Reg't. 1st Brigade N.J.V. 3rd Reg't. 1st Brigade N.J.V. 3rd Ret't. 1st Brigade N.J.V. 7th Reg't. N.J. Vols. 7th Reg't. N.J. Vols. 7th Reg. N.J. Vols. 7th Reg. N.J. Vols. 9th Reg. N.J. Vols. 9th Reg. N.J. Vols. Camp at Haddington ISSUER M.B. Breitenhach, M.B. Breitenhach, M.G. ... (?) M.G. ... (?) M.G. ... (?) M.S. Williamson S.K. Smith H.H. Hogg W.E. Cottingham John Patterson Fewel & Finley Charles G. Hatch W.A. Farr W.R. Brown W.R. Brown & Co. W.R. Brown W.R. Brown W.R. Brown W.R. Brown W.J. Taylor Wm. J. Taylor Wm. J. Taylor Robert Aitken Robert Aitken Robert Aitken Robert Aitken Allen P. Tilton Allen P. Tilton Hammick & Co. TYPE Ty. A (script) Ty. B (print) Type A (large "To the") Type B (small "To the") New York *5 Cents 1st X.L.C.R. (Excelsior Light Cay. Brg.) George Mountjoy 10 Cents 1st X.L.C.R. (Excelsior Light Cay. Brg.) George Mountjoy 25 Cents 1st X.L.C.R. (Excelsior Light Cay. Brg.) George Mountjoy 50 Cents 1st X.L.C.R. (Excelsior Light Cay. Brg.) George Mountjoy 25 Cents 2nd Reg. N.Y. Heavy Art. D.L. Sheldon 50 Cents 2nd Reg. N.Y. Heavy Art. D.L. Sheldon 1 Dollar 2nd Reg. N.Y. Heavy Art. D.L. Sheldon 5 Cents 5th X.L.C.R. (Excelsior Light Cay. Brg.) Mooney & McMillan 25 Cents 5th X.L.C.R. (Excelsior Light Cay. Brg.) Mooney & McMillan Page 86 Paper Money Whole No. 141 DENOMINATION UNIT SERVED ISSUER TYPE (Continued) 5th X.L.C.R. (Excelsior Light Cay. Brg.) New York 50 Cents *5 Cents 10 Cents 25 Cents 50 Cents 10 Cents 25 Cents 50 Cents 10 Cents Paymaster Order 1 Dollar 5 Cents Paymaster Order Demand Note Demand Note Scotts Nine Hundred U.S. Scotts Nine Hundred U.S. Scotts Nine Hundred U.S. Scotts Nine Hundred U.S. 43rd Reg't. N.Y.S.V. 43rd Reg't. N.Y.S.V. 43rd Reg't. N.Y.S.V. 46th Reg't. N.Y.S. Vol. Cay. (11th N.Y.C.) Cay. (11th N.Y.C.) Cay. (11th N.Y.C.) Cay. (11th N.Y.C.) Mooney & McMillan J.R. Bostwick J.R. Bostwick J.R. Bostwick J.R. Bostwick Wm.H. Gomersall(y) Wm .H . Gomersall(y) Wm .H. Gomersall (y) Arnold Davidsohn (Davidsoln?) S. Rightmyre H.C. Rogers M.L. Bachrach William Kendall William Kendall Type A (Col. written) Type B (Col. printed) 109th Reg't. N.Y. Vol. 157th N.Y. Vol. 160th Reg't. N.Y.S.V. Seward Infantry N.Y.S.V. 1846 Fort Columbus (N.Y.) 1846 Fort Columbus (N.Y.) North Carolina 25 Cents 50 Cents 25 Cents Ohio 25 Cents 50 Cents 1 Dollar *5 Cents 4th Brigade N.C.T. 4th Brigade N.C.T. 27th N.C. Reg't. 12th Reg't. O.V.U.S.A. 12th Reg't. O.V.U.S.A. 12th Reg't. O.V.U.S.A. 21st Reg't. O.V. W. Shelburn W. Shelburn Jos. J. Bryen M. Patton M. Patton M. Patton F. Maneuthell 25 Cents 23rd Reg't. O.V.I. G.W. Forbes Paymaster Order 32nd Reg't. O.V.M. 50 Cents 41st O.V. G. Smith 25 Cents 47th O.V.I.U.S.A. A. Hirsch (?) 50 Cents 47th O.V.I.U.S.A. A. Hirsch (?) 1 Dollar 47th O.V.I.U.S.A. A. Hirsch (?) 10 Cents 50th O.V.U.S.A. J. Eaton (Tho.Schaffer) 25 Cents 50th O.V.U.S.A. Tho. Schaffer 50 Cents 50th O.V.U.S.A. Tho. Schaffer 1 Dollar 50th O.V.U.S.A. Tho. Schaffer Paymaster Order 59th Reg't. O.V.U.S.A. J.B. Goodwin Paymaster Order 70th Reg't. O.V.M.U.S.A. Thomas Ellison Paymaster Order 89th Reg't. O.V.U.S.A. W. Copes Type A (Script "and deduct the same") Paymaster Order 89th Reg't. O.V.U.S.A. W. Copes Type B (Printed "and deduct the same") 5 Cents 121st Reg't. O.V.I. C.W. Wells Paper Money Whole No. 141 Page 87 DENOMINATION UNIT SERVED ISSUER TYPE Ohio (Continued) 10 Cents Paymaster Order 5 Dollars Pennsylvania 2 Cents 5 Cents 2 Cents 3 Cents 5 Cents 10 Cents 25 Cents 50 Cents 3 Cents 5 Cents 10 Cents 5 Cents 2 Cents 10 Cents 25 Cents 50 Cents 5 Cents 25 Cents 25 Cents 10 Cents 25 Cents 25 Cents 50 Cents 1 Dollar 121st Reg't. O.V.I. 188th 0.V.I. Johnson Island (Ohio) 3rd Reg't. Pa. Cavalry 3rd Reg't. Pa. Cavalry 26th Reg't. Pa. V. 26th Reg't. Pa. V. 26th Reg't. Pa. V. 26th Reg't. Pa. V. 26th Reg't. Pa. V. 26th Reg't. Pa. V. 32ed Reg't. P. V. 32ed Reg't. P. V. 32ed Reg't. P. V. Col. Rippen's 61st Reg't. P.V. 99th Reg't. P.V. 99th Reg't. P.V. 99th Reg't. P.V. 99th Reg't. P.V. 99th Reg't. P.V. Col. J.B. Clark's 123rd Reg't. P.V. Col. Black's Reg't. Pa. Vols. Col. W.G. Murray's Reg't. P.V.U.S.A. Col. W.G. Murray's Reg't. P.V.U.S.A. Calif. Reg't. (Gen. Burns Brg. 72 Pa. Inf.) Calif. Reg't. (Gen. Burns Brg. 72 Pa. Inf.) Calif. Reg't. (Gen. Burns Brg. 72 Pa. Inf.) C.W. Wells Joseph Grimm E.F. Moffatt(?) J.L. Gibson J.L. Gibson J.L. Gibson J.L. Gibson (Jas. L. Gihous ?) J.L. Gibson J.L. Gibson E.Z. Collins E.Z. Collins E.Z. Collins Geo. Richards E.Z. Collins E.Z. Collins E.Z. Collins E.Z. Collins E.Z. Collins Karns & Rawie A. Mundorf T. Bingham T. Bingham C. Gallager C. Gallager C. Gallager Rhode Island Paymaster Order 4th Reg't. R.I.V. Paymaster Order 4th Reg't. R.I.V. Paymaster Order 4th Reg't. R.I.V. Tennessee 50 Cents 1st Tenn. Cavalry 1 Dollar Fourth Tenn. Regiment 25 Cents 6th Tenn. Reg't. 50 Cents 6th Tenn. Reg't. 25 Cents 9th Tennessee Regiment 50 Cents 9th Tennessee Regiment 25 Cents 63rd Tenn. Reg't. 50 Cents 63rd Tenn. Reg't. 1 Dollar 63rd Tenn. Reg't. 25 Cents Maney's Brigade 50 Cents Maney's Brigade 1 Dollar Maney's Brigade 25 Cents Exchange Bank of 1st Brg. E. Tenn. Vols. Paymaster Order Ohio-Tenn Co. A. Tullahoma, Tenn. 50 Cents Col. Lay's Reg't. of Cay. Texas 2 Dollars Hubard's Regiment 25 Cents Army of the West (Texas/Oklahoma) 50 Cents Army of the West, (Green's Brg. (Texas/Okla) 50 Cents Fort Bliss Henry Buckingham Type A (altered to 4th R.I.) Henry Buckingham Type B (printed body of form) Henry Buckingham Type C (script body of form) M. Hartman M. Hartman W.L. Tenis (?) W.L. Tenis (?) I.T. Guthrie I.T. Guthrie I.T. Guthrie M. Hartman M. Hartman M. Hartman S. Smith R.H. Bots (?) A.S. Bishop C.W. Pullins L. Moker & Bro. Page 88 Paper Money Whole No. 141 TYPEUNIT SERVED 5th Reg't. Va. Vol. 10th Reg't. Va. Vol. 23rd Reg't. Va. Vol. 23rd Reg't. Va. Vol. Farmers Bank, Richmond, Va. (Good at Sut. S.) Farmers Bank, Richmond, Va. (Good at Sut. S.) C.S. Army News Agent & Mail Carrier for 8th Brg. (Good in Sutler's Stores) C.S. Army News Agent & Mail Carrier for 8th Brg. (Good in Sutler's Stores) ISSUER Wm. S. Deupre Wm. S. Deupre J.D. Edwards Geo. Pannell DENOMINATION Virginia Paymaster Order Paymaster Order 25 Cents 1 Dollar 10 Cents 25 Cents 10 Cents 25 Cents United States Army Paymaster Order Paymaster Order Paymaster Order Paymaster Order Paymaster Order Paymaster Order 20 Cents *50 Cents 5 Cents 50 Cents Unused. Blank spaces for Sutler, Reg't, etc. 2d Reg't. U.S. Sharpshooters 2d U.S. Cay. Fort Bridger U.T. 2d U.S. Cay. Fort Bridger U.T. 5th U.S. Artillery 11th U.S. Infantry 12th U.S. Infantry 12th U.S. Infantry 15th Regulars 18th Regulars U.S.A. Andrew J. Sweetser W.A. Carter W.A. Carter H.C. Wright P.H. Putman W.H. Alderdice W.H. Alderdice Wm. D. Gade R.H. Snonden Type A (small type) Type B (large script) 1 Dollar Paymaster Order 10 Cents 25 Cents 50 Cents 5 Cents Paymaster Order Paymaster Order Paymaster Order Paymaster Order 50 Cents 2 Dollars 5 Cents 50 Cents 1 Dollar 2 Dollars 3 Dollars 10 Cents 2 Dollars Paymaster Order Paymaster Order Confederate Army Paymaster Order 18th Regulars U.S.A. 19th U.S.C.T. (U.S. Colored Troops) Gen. Carters Brigade U.S.A. Gen. Carters Brigade U.S.A. Gen. Carters Brigade U.S.A. 29th Reg't. 36th U.S. Inf. Fort Bridger U.T. 36th U.S. Inf. Fort Bridger U.T. 36th U.S. Inf. Fort Bridger U.T. 120th Reg't. U.S.C.T. (U.S. Colored Troops) Jackson's Brigade Commissary Col. Greens Regiment Fort Abercrombie, D.T. Fort McCullock, C.N. Fort McCullock, C.N. Fort McCullock, C.N. Fort McCullock, C.N. Fort Lyon, Col. Ter. Fort Lyon, Col. Ter. 1st District Cavalry (Washington D.C.) Fort Shaw, M.T. Confederate Invalid Corps. R.H. Snonden John W. Morgen J. Oppenheimer J. Oppenheimer J. Oppenheimer William Saffen W.A. Carter W.A. Carter W.A. Carter John W. Morgen Baum N. Mc... I.M. Stone & Co. Wm. Quesenbury Wm. Quesenbury Wm. Quesenbury Wm. Quesenbury Wm. S. Wilder J.H. McKnight F.B. Frisbie Type A (hand written) Type B (printed in script) Type C (printed in type) oa tootTHE 17RITE 1;;111.A. ;Ira 17FA . 474.77/3:54'4' ..4:ao :ftirtAti M1111401'111 WIL.T. 3,1i 11, TIM 121,11V.11 1,11,NIANI.S NI.tV lU ,tralt,f, H-8 ?et, tar7 v,V1.—a- 111FLIOLIULESICR1/E HAS Paper Money Whole No. 141 Page 89 UPDATED CENSUS THE SURVIVING 1918 $50 FEDERAL RESERVE BANK NOTES by MICHAEL A. CRABS, JR. S INCE 1975 I have recorded the serial numbers of 1918$50 Federal Reserve Bank Notes from auctions, dealersand individuals. For many years these notes have been of interest to collectors of U.S. currency, since they represent a unique design (Freidberg 831 & Hessler 1046). The late William A. Philpott, Jr. called the attention of collec- tors to these notes in an article that appeared in the April, 1969 issue of The Numismatist. In that article, Mr. Philpott listed the serial numbers of twenty-three notes that he was personally able to confirm. He also listed a twenty-fourth note, in the possession of the Federal Reserve Bank of Philadelphia; apparently the bank refused to furnish him with the serial number of the note. Mr. Philpott's research led him to believe that there might be an additional four notes in existence that he did not include in his list. He made a statement to that effect in the article, but gave no reasons. Mr. Philpott speculated that the twenty-four known notes, plus the mysterious four other notes, existed. He also stated that the five remaining notes, as reported by U.S. Treasury records, could be safely considered lost or destroyed. Fortunately for col- lectors, Mr. Philpott was wrong about his last statement. How- ever, he cannot be faulted for any error, because my research has proven that the U.S. Treasury Department records are in- correct. The records of the Treasury Department indicate that 4,000 of these notes were printed on May 17, 1917. All of the notes were printed and issued by the Federal Reserve Bank of St. Louis. The Treasury Department redemption records reveal the following information about the number of these notes outstand- ing: 1951 — 70 1963 — 56 1968 — 33 Author's example of Fr. 831 (VG-Fine, Blue Back) with Fr. 730 (Crisp Uncirculated), same serial num- ber — H46A. Page 90 Paper Money Whole No. 141 Beginning in 1975, I have confirmed the existence of the following number of notes: 1975 — 37 1976 — 38 1978 — 39 1986 — 43 An individual listing of the notes in my census follows. If anyone reading this can provide information about a note or notes not on this list, please contact the author at: P.O. Box 17871, Memphis, TN 38187-0871. SERIAL NUMBERS OF KNOWN 1918 SERIES $50 FEDERAL RESERVE BANK NOTES SERIAL # SOURCE CONDITION PLATE LETTER H46A Crabb VG/Fine B1 H103A St. Louis FRB VF H110A AU H115A CU H117A Stack's 10/88 CU H118A CU H122A H138A EF + H140A H151A CU H153A H168A CU H176A CU H608A (Stolen) CU H649A CU Al H656A VF H671A CU C l H674A CU H678A CU H682A H683A EF H689A CU H741A CU H751A EF C l H753A H768A H770A CU H774A CU H797A Smithsonian H821A CU H898A Kagin's 6/81 EF H2128A F H2320A G/VG H2923A H2933A F H3213A F H3299A AU H3396A Smithsonian H3402A VG + B1 H3458A F(washed) B1 H3800A VF H3887A VG/F Cl H3917A F REFERENCE: Philpott, W.A., Jr. (1969). One U.S. $50 note of amazing rarity. The Numismatist. April, 459-461. ase of the agey ounterfeiter by BRENT HUGHES HAT today's collectors call broken bank notes, or ob- solete currency, gave early counterfeiters a golden opportunity to pursue their profession. More than 3,000 different designs of paper money, often "issued" by non- existent banks, circulated throughout our country prior to the Civil War and created havoc for the business community. Even after the U.S. government began issuing paper money at the be- ginning of the war, counterfeiting continued unabated. One man who capitalized on the situation was John S. Dye, publisher of Dye's Government Counterfeit Detector, who maintained offices at 1338 Chestnut St., Philadelphia. He and others issued elaborate newsletters and books that described the latest counterfeits as they were detected and alerted business- men to their identity. Dye claimed that while his publications would not make a person a "Treasury Expert," they would allow "any person of fair intelligence to discriminate conclusively in every case (of questionable paper money), so being saved from loss themselves and from the temptation to inflict loss on others." Dye apparently had a close working arrangement with the U.S. Secret Service in Washington. They alerted him to the lat- est counterfeits and he lobbied the business community to sup- port Congressional appropriations for the Department. In the course of his work Dye acquired a lot of information about indi- vidual counterfeiters, and in 1880 published a soft covered booklet titled The Government Blue Book, A Complete History of the Lives of All the Great Counterfeiters, Criminal Engravers and Plate Printers. Each biography was accompanied by a woodcut portrait of the criminal. Written in the unusual style of the time, the booklet is a treasurehouse of vignettes of these fas- cinating people. John Dye was fascinated by the unique language of the coun- terfeiting gangs, and it was he who explained how some of the unusual terms originated. Some words are obvious, such as "shover" for the individual who passed the counterfeit notes. It was his job to "shove" the bogus notes off on unsuspecting citi- zens. Another term was "queer," used by gang members to refer to their bogus notes. And of course the blanket term for counter- feit paper money was "green goods." Con men were fond of this term because they could use it with impunity in telegrams and letters—if questioned by authorities they would simply ex- plain that they were in the business of supplying "green goods" (printed fabric) to the garment trade. Other terms were less obvious. One that keeps cropping up in old books on counterfeiting is "coney" and a variation, "coney striker." I first thought it was a play on the word "counterfeiter" but John Dye had a better explanation. He said that around 1800, because no extradition treaty existed between the United States and Great Britain, the nearby provinces of Canada be- came havens for every kind of criminal from our country. The Paper Money Whole No. 141 Somehow a colony of American counterfeiters developed in a border village named Frelingsburg, which had a street named Koniack. Dye said that in 1820 virtually every resident of Koniack Street was in some phase of counterfeiting and that huge amounts of "goods," both coins and currency, were made there to be smuggled into the United States. At that time the most commonly counterfeited notes were the issues of old New England banks as well as those of Pennsylvania and New Jersey. U.S. half dollars were also turned out in large quantities by a legendary character named Omea La Grange, who ob- viously operated his own private mint. In a modern atlas the "village" to which Dye referred appears to be the town of Frelighsburg, which is just across the Canadian border from Richford, Vermont. The town of Dunham just north of Frelighsburg was also mentioned as a haven for coun- terfeiters. In 1831 British and American authorities moved in and stifled operations for awhile but the counterfeiting soon resumed. In 1836 another crackdown occurred, which lasted for two years, and gradually the ring leaders scattered and became teachers to a new generation of counterfeiters. But the language lived on with many criminals being referred to as "Koniackers" and then "coney men" who were said to have been engaged in "coney business." During the heyday of Koniack Street the residents went to great lengths to maintain security in their "plants." Many went underground, with large rooms and tunnels concealed under the houses. They had secret entrances, exits and ventilating sys- tems, which allowed them to spend long hours in their dens. They infiltrated the police department with payoffs, and one "shover" named James Boyd, Jr. even got himself elected deputy sheriff. The tradition of jumping across the Canadian border to avoid arrest by American authorities lasted for decades and Secret Service agents had to use a lot of ingenuity to trap counterfeit- ers. One of the most novel of these captures occurred in the 1910-1920 era when agents Harold C. Keyes and Jack Ryan were assigned to the Albany, N.Y. office. A bank on the border had shipped some currency to the Federal Reserve — $3,000 in twenties and fifties—which turned out to be bogus. The two agents caught the next train to Ogden Point, a small border town with a custom house and bank. After a few hours checking out leads they decided that the counterfeit money had been used in some kind of bootleg liquor deal. They rented a car and drove into Canada to visit a few speakeasies. At the Broken Knuckle they talked their way inside and were pretending to drink the rot-gut whiskey when a young woman patron began objecting to the attentions of an obnoxious drunk. When he per- sisted, Jack Ryan rescued the fair damsel by clobbering the drunk with his fist and throwing him outside. The woman thanked Ryan and identified herself as Helen Rogers from Ver- mont. During the ensuing conversation she indicated that the drunk was a rum-runner and that others in the place were en- gaged in various illegal activities. The agents quietly brought up the subject of counterfeiting plates and Helen indicated that she might know a man who had two pairs of plates for making U.S. $20 and $50 bills. She thought the price was $5,000, but cau- tioned them that the owner was a very foxy Canadian citizen who would do business only in Canada. This created a problem because the two Secret Service men had no authority in Canada, but they told Helen to set up the deal. They then followed her to Montreal and learned that her contact was one Aimee Dupont who turned out to be a cagey fellow indeed. The next day Helen reported that under no cir- Page 91 cumstances would Dupont leave Canada because he had al- ready had a most unpleasant experience with American author- ities. However, he understood the law and was willing to make the exchange of plates for money while standing on the Cana- dian side of a border marker while his buyers stood on the other side. He selected a lonely road not far away and would use Helen as a messenger. The deal was set but Dupont failed to show. The agents held on to their dummy package that was supposed to contain $5,000 and waited for Helen. When she got there she told Ryan and Keyes that Dupont had not been able to see the border sign because it was too dark. He had seen their car parked beside the road but wanted to check out the exact location of the sign post in daylight. He had done so and was now ready to complete the transaction at ten that night. The two agents then figured out a clever plan. They drove to the rendezvous point an hour early with a post-hole digger in the trunk of their car. They parked fifteen feet back from their previous spot and dug a hole beside the road. After making sure that no one was watching, they simply pulled up the border sign post and moved it fifteen feet south of the actual border. This time the nervous Dupont showed up and Keyes walked to his car. He told Dupont that he was also concerned about be- ing caught and that each should stand in his own country and hand the packages across the border at arms length. Dupont at first refused to get out of his car but Keyes insisted. Finally Du- pont walked with Keyes to the border sign. He carefully stayed inside Canada and handed over the plates with one hand while reaching for the money with the other. Keyes instantly grabbed the plates, dropped the money package and pulled out his pistol. At the same time Ryan came up behind Dupont and handcuffed him. For a moment Dupont was confused, then he sarcastically told the agents that they had no authority to arrest him in Cana- da. Keyes handed his weapon to Ryan, pulled up the border sign post and returned it to its original location. All the arrogance left Dupont when he realized that he was now standing fifteen feet inside the United States, caught in the act of selling counterfeit plates for U.S. currency to two U.S. Secret Service agents. His mistake would cost him fifteen years in the Atlanta Federal Penitentiary. The young woman from Vermont turned out to be a solid citi- zen after all. She tipped the two agents that Dupont's gang was holed up in a certain house on Marrin Street in Montreal. Keyes and Ryan got together with the Royal Canadian Mounted Police and raided the place. They came away with suitcases full of counterfeit notes, two printing presses and other equipment. Back at Ogden Point, the two agents were still cleaning up the paper work when they received a telegram from Helen in- viting them to her wedding the following Sunday. When they showed up at the church they were surprised to learn that Ryan had been chosen to be best man and Keyes was to give the bride away. Some of the Mounties were there too; it was a remarkable example of international cooperation. Since the U.S. Secret Service had the plates, Dupont was in jail and the Montreal plant was no more, both governments seemed satisfied. So, when the paper work was finished it seems that Helen and her new husband had somehow been forgiven for their minor transgressions and, as they say, lived happily ever after. Sources: Dye, John S. The Government Blue Book (Philadelphia, 1880). Keyes, Harold C., Tales of the Secret Service (Cleveland, 1927). or TENNESSEE. &-year nrmx ‘,1) <9‘i-74-,' ea, the sum qr • "the Qiuirterb tilt/a/on:0y, I, Rzne reeeimbk- r{trtd to artelemahtl ri lie „awl the Page 92 Paper Money Whole No. 141 Railroad Notes and Scrip of the United States, the Confederate States and Canada by RICHARD T. HOOBER (Continued from PM 140, Page 61) Tennessee No. 19 TENNESSEE COAL & RAILROAD COMPANY The company became part of the Nashville, Chattanooga and St. Louis Railway. It constructed and maintained a line running from Tracy City to Cowan, a distance of 18 miles, and also from Tracy City to Rattlesnake, five miles. The latter branch was abandoned shortly after completion. In 1882 there was also a line from Victoria to Inman, which was abandoned sometime prior to 1903. The line was purchased by the Nashville, Chattanooga & St. Louis, November 1, 1886. 23. 5C (L) Female. (C) Red 5. R4 24. 10C (L) Washington. (C) Red 10. R4 25. 250 (L) Female. (C) Red 25. R4 26. 50C (L) Cotton plant. (C) Red 50. (R) 50. R4 27. 1.00 No description. R7 28. 2.00 (L) Female, 2 below. (R) Eagle, 2 above. R6 Date—January 1, 1881. Imprint —Corlies, Macy & Co. Stationers, 39 Nassau St. N. Y. Tennessee No. 26 Paper Money Whole No. 141 Page 93 TEXAS CHAPPELL HILL — WASHINGTON COUNTY RAILROAD COMPANY 1. 250 Type set. Red print on blue paper. R6 2. 50C Similar to No. 1, except denomination. Date—April 1, 1862. Imprint—Unknown. R6 GALVESTON — GALVESTON, HOUSTON & HENDERSON RAILROAD 3. 150 (L) Train. R7 4. 25C Similar to No. 3, except denomination. R7 5. 50C Similar to No. 3, except denomination. R7 6. 754 Similar to No. 3, except denomination. Date—April 20, 1862. Imprint — None. R7 VICTORIA — SAN ANTONIO & MEXICAN GULF RAILWAY 7. 50C (C) Train. Red lathework. R7 8. 1.00 (C) Train. (R) $1.00. R7 9. 2.00 Similar to No. 8, except denomination. R7 10. 3.00 (L) III. (C) 3-THREE DOLLARS-3. Date—May 8, 1862, part ink. Imprint—None. R6 A ....:-34(,,,,,, /..)2.., (.211dc/ fet TWu _2-0 , c- ,. it:di icce,ze 1/ f,J.. , a‘ 4 6; oi,' ( fee.r:v. en /o ,y ,4n en" (if c....4/ d a/ 51.et../J,ci,rxel ,i/i„ , ') „ c` v.v.' ) U. ,il,ymezi.,`,. in ?7'(.ce it a/ Li et /Tot: .. • 6.. ,--714 , ,.."-, r' 'I' Y .:/': C le tie I P.), III ) I:111,5 of _67.7wen,'.7 c kl. -i-' ' ' e , 'la i . , a i I /i a, I "'d: oar' of/ if,,:.,:...1,6■14,A,,, Texas No. 9 , ,..,,,C .....1 ;75t1''. 10 el) +;:.:" ;..,(\ $6' +4, 4. 'fi (To be continued) Paper Money Whole No. 141Page 94 Interest Bearing Notes Roger H Durand The syngraphic year started off on a high note with the FUN show in Orlando, Florida January 4-8. Paper money was well- represented by the dealers present who offered a good inven- tory to prospective buyers. Many who attended were happy with the additions they acquired for their collections. I spoke with many collectors and dealers and the general consensus was that there is certainly an increase in the collecting of paper money. It seems that numerous collectors are disenchanted with coins and want to find a new area of collecting and paper money seems to be it. The next show of interest to paper money collectors was the 17th Annual Mansfield Numismatic Society show held on March 12. This show featured paper money dealers and again, everyone who attended the show was well-satisfied. This show seems to grow each year and it has become one of the leading paper money shows on the east coast. The 33rd Annual Metro New York Numismatic Convention, March 30 to April 2, featured a paper money show for the sec- ond consecutive year. Actually, a specified area of the bourse is set aside specifically for paper money dealers; this seems to work well. All types of paper money were well-represented. Paper money exhibits were on display and they were im- pressive. This show also featured Tom Denly as guest speaker for our SPMC regional meeting. He spoke about star replace- ment notes, which he illustrated with some fantastic slides. It was an extremely interesting presentation. Wismer Project Update: Due to the unfortunate death of Byron Johnson, the following new authors have been assigned to research the states of Wash- ington and Oregon: Dick & Sue Naven, Oregon Paper Money Exchange, 6802 SW 33rd Pl., Portland, OR 97219. Please co- operate with them to help bring this project to a satisfactory con- clusion. 7744 Norman B. Buckman, P.O. Box 608, Ocean Grove, NJ 07756; C, New Jersey currency. 7745 James C. Hill, #1 Pebblecreek Rd., Norman, OK 73072; C. 7746 Mr. Rahal, P.O. Box 64, Girard, PA 16417; C&D, World bank notes. 7747 Raymond Epple, 6811 Michigan Ave., St. Louis, MO 63111. 7748 Lee Manske, 2002 9th St. N, Fargo, ND 58102; C, Civil war money. 7749 Francis Anglada, USS Towers DDG9, FPO San Francisco, CA 96679-1239; C, AMC/JIM/MPC/world currency. 7750 John A. Kacanda, 154-51 25th Drive, Flushing, NY 11354; C, Nationals & PA Obsolete Notes. 7751 Ernie P. King, 1663 Sutton Dr., Memphis, TN 38127; C, Cur- rent world paper money. 7752 Don R. Ellis, 3218 N. Chester #A, Bakersfield, CA 93308; C, Large- & small-size nationals. 7753 Maurizio Paglia, 29 Paulvale Crs. Downsview, Ontario M3J 1K4, Canada; C, British Commonwealth. 7754 LaVerne B. Maddix, 1404-29th Ave., Monroe, Wi 53566; Frac- tional currency & WW II propaganda notes. 7755 Eugene Wisakowsky, Rt. 2, Box 136F, Royse City, TX 75089; C, U.S. 7756 Joseph C. Cohagen, 6195 Michaelkenny Ln., Dublin, OH 43017; C&D, U.S. nationals, Confederate, and obsoletes. 7757 Nick Gerbinski, Box 3623 Stn. B, Winnipeg, Manitoba, Canada R2W 3R4; D, Canadian. 7758 Edward Hamm Jr., 141 Knickerbocker Ave., Paterson, NJ 07503; C, N.J. obsolete notes. 7759 Anthony J. Fiorica; 49 Garden Place, Westwood, NJ 07675; C. 7760 Bob Eddy, 6813 Oahu Court, Bay St. Louis, MS 39520; MS na- tional and obsolete notes. 7761 C. Dan Woods, 701 Highway 36, Chelsea, AL 35043; C, Ala- bama obsolete notes. 7762 Dr. Andrzej Mikolajczyk, Museum Archeologiczne, 91-415 Lodz, Plac Wolnosci 14, Poland. 7763 Doug Thomaston, 2907 S. 18th St., Homewood, AL 35209; C&D. 7764 Gary Stevenson, 801 Eichelberger, St. Louis, MO 63111; C, Fractional & Colonial. 7765 Dennis M. Warren, P.O. Box 2288, Sierra Vista, AZ 85636; D, U.S. 7766 Donald D. Chamberlin, P.O. Box 494187, Redding, CA 96049-4187; C, U.S. 7767 Robert J. Illuzzi, 110 Ethel Rd., Edison, NJ 08817; C, U.S. na- tional & obsolete notes. 7768 Richard Hopp, 4936 Wortser Ave., Sherman Oaks, CA 91423-2137; C. 7769 Carlton G. Whitehead, Rt. 4, Box 13H, Nashville, NC 27856; C, NC national & Confederate notes. MEMBERSHIP DIRECTOR NEW Ronald HorstmanP.O. Box 6011St. Louis, MO 63139 MEMBERS 7740 Ted Pilafas, Box 452, Addison, IL 60101; C, U.S. Currency. 7741 Jerry Yahalom, Box 3637, Thousand Oaks, CA 91359; C, Ot- toman, Palestine, Israel; U.S. nationals currency. 7742 Wayne Steven Ketcham, 225 West North St., Box 303, Leland, IL 60531; C, Legal tender notes, fractional currency & silver certificates. 7743 Elton E. Ellis, Supply/Fiscal Dept., P.O. Box 48, FPO Seattle 98766; C. 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 • LIBRARY NOTES Paper Money Whole No. 141 Page 95 New Literature The library has moved south! I, Walter Fortner, have assumed the duties of Librarian for the Society. The new address for the library is: SPMC Library P.O. Box 152 Terre Haute, IN 47808-0152 The Library has a large collection of publications of interest to the collector of paper money available for loan to members of the Society. All books are loaned on the basis of the member paying postage both ways. Listed below are some of the more recent acquisitions of the Library. Until I determine whether to continue the current refer- ence number scheme or develop a new one, I am assigning tem- porary numbers to all new volumes. TMPO1 Collector's Guide to Old Bank Checks (1982, Battles) TMPO2 The Currency Club of Chester County Special Ten Year Anniversary Book (1981, Beecher) TMPO3 The First National Bank of Chicago 1863-1913 (1913, Cooke) TMPO4 - Bureau of Engraving and Printing — The First Hun- dred Years, 1862-1962 (1978, Durst reprint) TMPO5 The Federal Reserve System (1961, Board of Gover- nors) TMPO6 - Scripophily (1980, Gittlemen) TMPO7 - Scripophily (1982, Hollender) TMPO8 - Polskie I Obce Pienadze Papierowe Na Naszych Zie- miach (1985, Kowalski) TMPO9 - Znaki Pieniezne Zsrr 1917-1982 (1983, Kowalski) TMP10 - The Houston Heritage Collection of National Bank Notes 1863 through 1935 (1977, Logan) TMP11 - United States National Bank Notes and Their Seals (1986, Prather) TMP12 - Making Money (1986, Rochette) TMP13 -A Guide Book of U.S. Fractional Currency (1963, Rothert) TMP14 - Japanese Invasion Money (Slabaugh, reprint from Numismatic Scrapbook) TMP15 - Worcester Bankbook 1804-1954 (1955, Tymeson) TMP16 - 400 California Street (1969, Wilson) TMP17 - Standard Catalog of United States Obsolete Bank Notes (Haxby 1988) 4 vols. One of my first projects will be to produce a catalog of Library holdings; hopefully by this summer. As we enter into the com- puter age I would like to know how many members have com- puters (and what kind) and is there any interest in producing the catalog on disk. Such a catalog could be easily updated on a regular basis. Our library grows through donations. If you have material that would be of interest to our members, please consider the library. Items are generally inscribed with the name of the donor; if you wish to contribute anonymously, please advise and it will be so noted. An Illustrated History of U.S. Loans, 1775-1898, 380 pp., 295 illus., hardcover; $35 plus $2.50 p&h. Available from BNR Press, Drawer 409, Leavenworth, KS 66048; autographed copies from the author, P.O. Box 8147, St. Louis, MO 63156. [An Illustrated History of U.S. Loans, 1775-1898] is an out- standing presentation of a neglected numismatic area, financial obligations of the U.S. Government. The printing and issuance of U.S. Treasury Notes and Federal Reserve Notes have often been thought of as the only fiscal obligations of the U.S. Gov- ernment. However, the major financial transaction within the Treasury Department is the underwriting of the national debt which is expressed in the large denomination financial obliga- tions. Your work well depicts what transpired from the inception of our country to 1898. The book is clear and readable and the illustrations are excellent including some fine line engravings. This book is an excellent addition to numismatic lore. As a former director of the Bureau of Engraving and Printing, I found the book extremely interesting and once again I have learned something of the history of the Treasury Department and some aspects of the Bureau of Engraving and Printing. Robert J. Leuver, Executive Director ANA Supplements What follows is a supplemental listing of notes on which the sub- jects discussed in the original articles can be found. The First Greenbacks (No. 135, p. 69) Haxby No. DC-70 G 14B $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 WI-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 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 WI-705 G2 $2 Prairie City Bank WI-770 G2 & 2a $1 Sun Prairie Bank PS-649 50 Pesos Colombia Page 96 Paper Money Whole No. 141 moneymart Paper Money will accept classified advertising from members only on a basis of 15C per word, with a minimum charge of $3.75. The primary purpose of the ads is to assist members in exchanging, buying, selling, or locating specialized material and disposing of duplicates. Copy must be non-commercial in nature. Copy must be legibly printed or typed, accompanied by prepayment made payable to the Society of Paper Money Collectors, and reach the Editor, Gene Hessler, P.O. Box 8147, St. Louis, MO 63156 by the tenth of the month preceding the month of issue (i.e. Dec. 10, 1988 for Jan. 1989 issue). Word count: Name and address will count as five words. All other words and abbreviations, figure combinations and initials count as separate. No check copies. 10% discount for four or more insertions of the same copy. Sample ad and word count. WANTED: CONFEDERATE FACSIMILES by Upham for cash or trade for FRN block letters, $1 SC, U.S. obsolete. John W. Member, 000 Last St., New York, N.Y. 10015. (22 words: $2: SC: U.S.: FRN counted as one word each) 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) 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) 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) 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 or a small-size CU, SC with serial number 00099999. Any series. Any block. Jim Lund, 2805 County Rd. 82, Alexandria, MN 56308. (143) WANTED: INFORMATION ON MISSISSIPPI OBSOLETES Cr. 1-Cr. 8 for magazine article. Also, information on Mississippi legisla- tive Act of Dec. 19, 1861 authorizing notes. All letters answered. Darryl Kinnison, Box 521, Westwood, CA 96137. SELLING INDIANA NATIONALS: Attica, Bloomington, Brazil, Fort Wayne, Franklin, Gary, Greencastle, Hammond, La Porte, Madison, Marion, Mishawaka, Muncie, Plymouth, Princeton, Richmond, Terre Haute. Free lists. Other states (specify). Joe Apelman, Box 283, Cov- ington, LA 70434. NUMBER ONE NOTES AND SHEETS, 11111111 through 99999999, nine digit 100000000, 2 through 9, large-size "stars" CU, small-size number one "stars", $100 1966 "stars" s/n 1 to 4, Cu 1907 $10 Gold, and high denominations in all United States types and varieties. Want Michigan Nationals, singles and sheets. KALAMAZOO, MICHIGAN all types. Paying up to $25,000.00 for wanted notes and sheets. Jack H. Fischer 3123 Bronson Boulevard, Kalamazoo, MI 49008. A/C 616-344-5653 and 343-5538. (145) 1907 CLEARING HOUSE SCRIP AND CHECKS WANTED: Need examples and information from most states. Please send informa- tion with copy. I am currently interested in scrip from Mississippi, Ohio, Wisconsin, Virginia, North Dakota, Georgia and Florida. Tom Sheehan, P.O. Box 14, Seattle, WA 98111. (144) MINNESOTA MATERIAL WANTED FOR MY PERSONAL COLLECTIONS: Obsoletes, Nationals, Postal Notes, Civil War Tokens. Have other states for trade. Send want list. Shawn Hewitt, Box 1114, Minneapolis, MN 55458-1114. (144) MICHIGAN NATIONALS, OBSOLETES, SCRIP, SC, U.S. FRACTIONALS. FRN block set 1963-1974 including *s, complete 358 notes $1,200. Partial block sets, 1963, 1963A & B, 1969, 1974 lacking 4 notes, $625. Dr. Wallace Lee, Suite 210, Summit Pl., Ponti- ac, MI 48053. (144) WANTED, INFORMATION ON: $1, 1865 1st NB of YPSILANTI. I have found three auction listings of this note. Grinell 2016 Gd & 4245 Fair; & Kosoff 517 Gd (10/26/71). Are these listings the same note or is there more than one known? David Davis, P.O. Box 205, Ypsilanti, MI 48197. (144) COMPUTERIZE YOUR INVENTORY Automate your record keeping with the NUMISMA In- ventory program. Handles U.S. and foreign bank- notes, C.S.A. notes, broken bank notes, souvenir cards, and lots more (including coins, antiques, etc.). Keeps information on what you have and what you sold, plus a complete description of each item. Prints current inventory customer lists and prints mailing labels. Requires IBM PC or compatible com- puter (hard disk recommended). Only $49.95 ppd. For brochure send 450 in stamps. Louis Barton, P.O. Box 215, Theodosia, MO 65761. MEMBER SPMC Paper Money Whole No. 141 Page 97 $$$$$$$$$$$$$$$$$ $ $ $ $ $ $ $ $ $ $ PCDA AUCTION $ $$ tOKI8MH HCA/222 $ $ $ $ $ $ Meet me in St. Louis - November 30 thru December 3 $ Help us make our first real public cataloged currency $ auction the finest sale of the year. This sale will have at $ $ least 1,000 prime lots of currency. Whether you have U.S., Obsolete, Confederate, Foreign or Colonials - we are $ looking for great notes to sell. $ $ Some great notes we already have include the following: $ $ I. Over 50 lots Canadian. 2. Great banks of U.S. collections. $ 3. Fractional Shield plus Fr. 1296-Limpert 41K, Fr. $1300 and Fr. 1336. 4. Texas First Charter. $ 5. Oklahoma, Indiana, New Mexico, Colorado and Utah $Territorials. 6. Customs House Essai Note & $1 Educational Proof. $ 7. Finest known $20 Compound Interest Note. 8. Arizona and Utah Territorials - Lodi,Wisc. - $ finest known Coudry Obsolete. $ $ Please contact us immediately to consign for this great $ sale. The deadline for consignments is the first week of $ $ September. Very competitive commission rates. $ $ $(913)451-9609 Lyn F. Knight, Inc. $ Box 7364 $ $ Overland Park, KS. 66207 $ $$$$$$$$$$$$$$$$$$$$$$$$$$ Page 98 ''',71:7;t114(1 11T: ..1 1• • '!: 1.11h 1 1! t il!1! 1 , 1'01 , V\os I: Paper Money Whole No. 141 WE ARE ALWAYS BUYING ■ FRACTIONAL CURRENCY ■ ENCASED POSTAGE ■ LARGE SIZE CURRENCY ■ COLONIAL CURRENCY WRITE, CALL OR SHIP: 4 *l'ir zi-0 re--)‘'re sL " t`21"grillE inc. LEN and JEAN GLAZER (718) 268-3221 POST OFFICE BOX 111 FOREST HILLS, N.Y. 11375 N' X'11-,TS \ R 'AZT: \ ( ( )1 ,11.) 11- Charter Member HARRY IS BUYING NATIONALS - LARGE AND SMALL UNCUT SHEETS TYPE NOTES UNUSUAL SERIAL NUMBERS OBSOLETES ERRORS HARRY E. JONES PO Box 30369 Cleveland, Ohio 44130 216-884-0701 Paper Money Whole No. 141 Page 99 ce _ - of "^,, EARLY, ,,„$/ T_, , e.1 ii AMERICAN,k ,. A,.. it NUMISMATICS N .4- - .t, . ci,=.‘‘' P ' *619-273-3566 COLONIAL & CONTINENTAL CURRENCY SPECL4LIZING IN: SERVICES: q Colonial Coins q Portfolio q Colonial Currency Development q Rare & Choice Type q Major Show q EARLY Coins Coverage q Pre-1800 Fiscal Paper q Auction q Encased Postage Stamps Attendance ■ P.O. Members: Life We maintain the LARGEST ACTIVE INVENTORY IN THE WORLD! o ■ SEND US YOUR LISTSWANT FREE PRICE . LISTS AVAILABLE. AMERICAN NUMISMATICS c/o Dana Linett Box 2442 ■ LaJolla, CA 92038 619-273-3566 ANA, CSNA-EAC, SPMC, FUN, ANACS 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 EIGHTEEN PENCE. ....-- _ Mill) . !Arm)1 TIM 6.6,18 '186 MU,. 1.19,11, El :Oipi[ EIghtern *not . pmd U. '/ii/ . Da,#' A. Da jelley R Paper Money Whole No. 141Page 100 Sell Your Coins & Currency To The Highest Bidder Cull; of Coutitimr 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. .N o . me Peenribarn• I 14 no 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 1Wo Years Three Years One Year 1Wo Years Three Years NASCA $45 $80 $105 $55 $100 $125 FRIENDS OF FINANCIAL HISTORY $25 $45 $60 $30 $55 $75 COMBINED SUBSCRIPTION $70 $120 $160 $85 $150 $195 26 Broadway New York, NY 10004 NY residents Toll-Free 800-622-1880 call 212-943-1880 SCARCE SYNGRAPHIC SPECIALS $1899 $1 Silver Certificate Cut Sheet; Fr. 235. The Four Notes have Inverted backs. Very Rare in Cut-Sheet. Superb Crisp New. Priced @ $2,450.00 1923 $1 Legal Tender Star Notes Cut Sheet. Fr. 40. Speelman-White. Nos. *4209D/ *4212D. Rare in Cut-Sheet. Only 107 Star notes known. Single Stars lists @ $400. Price, only $1,900.00 1928-A, 1928-B Silver Certificate. Rare Ex- perimental Issue: 1928-B #X00000002B; #Y00000002B; 1928-A #Z00000002B. This Very Rare Low No. Set. Crisp New. Price $795.00 URGENTLY WANTED Idaho Territorial Note; 1st or 2nd Charter. Very Fine or Nicer Grade desired. Please describe or send photo of Note, indicating Price desired. Our ads have appeared in every issue of The Numismatist since 1941. AUBREY and ADELINE BEBEE ANA LIFE #110, P.O. Box 4290, Omaha, NE 68104 • (402) 558-0277 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 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! - —e; 442:4,1k4,—2.4.1 PAPER MONEY 0"."' OLD STOCKS & BONO& • stArilt AUTOGRAPHS ^ r.otA, POSTAL HISTORY • ' ••• 0,040.4”. — (1/0 GRAM Acce,t. ARMY - NAVY - MARINE ITEMS 1.0.41.0 me. „.....SLAVERY MATERIAL Of SAL11, CUSTOMS ITEMS OOKS — REFERENCE WORKS, SA COINS. MEDALS, SEALS, & PAPERS rc. ..<,w• CRISWELL'S FT. McCOY FL 32637-9537 SfAlia.1-.27233511,33,, MDA . 674!;: Ml107. 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 4:0; t ' 090996g 'EUR F10000000s) 1 F,.999 0 9999 P,zwies,r2 #0000000, #11111111 thru 99999999 and #10000000, & #100,000.000 WANTED Large and Small Size Notes, 1862-1988 series, $1-$100 denominations CALL TOLL FREE: 1-800-727-8288 Mon.-Fri. Mike Abramson SPMC #2653, ANA, PMCM P.O. Box 6105 Duluth, MN 55816 Paper Money Whole No. 141 Page 101 P.O. BOX 84 • NANUET, N.Y 10954 • (.)&41SWLti INC. Extensive Catalog for $2.00, Refundable With Order CSA and Obsolete Notes CSA Bonds, Stocks & Financial Items P.O. Box 712 I Leesville, SC 29070 / (803) 532-6747 ANA-LM SCNA PCDA SPMC-LM BRNA FUN HUGH SHULL BUYING / SELLING- OBSOLETE CURRENCY, NATIONALS• UNCUT SHEETS, PROOFS, SCRIP BARRY WEXLER, Pres. Member: SPMC, PCDA, ANA, FUN, GENA, ASCC (914)352-9077 Nobody pays more than Huntoon for ARIZONA & WYOMING state and territorial Nationals liga liti_SLIkeallAkaljteENOV IR'i= aa, ,,,,..7 „....„,n n„,,, --wg bilk ti)A., Vraintrrr al Bkofibilifou -.);-.../acq-c -efie 6-4,, izo ..., _...; fa„,,-,2,....„...........,...„,,,,.. Peter Huntoon P.O. Box 3681 Laramie, WY 82071 (307) 742-2217 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 Fractional Foreign 399 S. State Street - Westerville, OH 43081 1-614-882-3937 1-800-848-3966 outside Ohio Life Member ae4EST 1960 "101Plaillweliys( SEND FOR OUR COMPLETE PRICE LIST FREE COIN SHOP INC BUYING AND SELLING Page 102 Paper Money Whole No. 141 BUYING PAPER MONEY Nationals, Errors, Type Notes, Stars, Number 1 & 2 Notes, Radars, Solid Num- bers, Ladders. Ship with confidence or write for our offer. We pay more for quality unmolest- ed material. ROBERT and DIANA AZPIAZU P.O. Box 1565 St. Augustine, FL 32085-1565 (904) 797-8622 ,K. 111- 1 M■At1 )11,01,1}CIONS 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 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 3/. 15.00 27.50 125.00 230.00 Small Currency 6% x 2 7/8 15.25 29.00 128.50 240.00 Large Currency 7 7/8 x 31/2 18.00 33.00 151.50 279.50 Check Size 9% x 41/4 22.50 41.50 189.50 349.00 Baseball Card Std 21/4 x 3 3/4 13.00 23.50 107.50 198.00 Baseball Bowman 2/ 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 /,Illialt:6 73111A13_!:15;C '4 -• - ,- " 0 _ .. as -, 4-4200,000 4- , ,,,,h/4// , (%,,, 4,", V ONE III:WIREDBOLIARS /a, /7,,/1./ '4,1 / . : -]fl E C,01.01t.\110 MINI.: DEN EI,OPING COMPANY. f>.. , .-.. t'• 4/4/tar4 444, /4 ...'4',4V4‘ ,,,,,,,,,, e, A 11,/, el /7. ,./0,//01/,'W id, ' itaieNd , i./541;1/ireek ,4.E 4. v,,, , ..,,,/,Y '• s......., Oregon Paper Money Exchange We Buy and Sell Western Material STOCKS, CHECKS, ILLUSTRATED BILLHEADS PROMPT SERVICE-GUARANTEED AUTHENTICITY WE SOLICIT YOUR WANT LIST CURRENT LIST FOR $1.00 - REFUNDABLE Send For Our Catalog Today! OREGON PAPER MONEY EXCHANGE 6802 S.W. 33rd Place, Portland, OR 97219 (503) 245-3659 (EVES) Paper Money Whole No. 141 Page 103 WE NEED TO BUY If you are selling a single note or an entire col- lection, you will be pleased with our fair offer — NO GAMES PLAYED HERE! (Selling too! Write for free catalog.) Subject to our inventory requirements we need the following: ALL WORLD BANK NOTES Also U.S. Large Size Notes All Military Currency U.S. Fractional Currency Colonial Currency U.S. Encased Postage Souvenir Cards National Bank Notes U.S. Small Size Currency Ship With Confidence or Write We pay more for scarce or rare notes. TOM KNEBL, INC. (714) 886-0198 P.O. Drawer 3949 San Bernardino, CA 92413 I COLLECT MINNESOTA OBSOLETE CURRENCY and SCRIP Charles C. Parrish P.O. Box 481 Rosemount, Minnesota 55068 SPMC 7456 LM ANA Since 1976 Page 104 Paper Money Whole No. 141 BROKEN BANK NOTES CONFEDERATE CURRENCY • Collections Needed • Buy/Consignrnent • 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 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 About Denarninations By roger 3-1. Durand This new profusely illustrated book covers the history of over a hundred denominations used on notes during the state banking era. This book is a MUST for the obsolete bank note collector. $18.95 + $1.05 P&I ROGER H. DURAND P.O. Box 186 Rehoboth, Mass. 02769 U.S. PAPER MONEY COLLECTORS! Bank Note Reporter is for you! U.S. paper money collectors! Get more news of your particular collecting interest, every month, in Bank Note Reporter. Bank Note Reporter is the only independently produced publication that blankets the entire paper money spectrum. You'll get all the news you need. And, you'll find it a convenient way r I Mail to: Bank Note Reporter Circulation Dept. 700 E. State St. Iola, WI 54990 I Enter my Bank Note Reporter subscription as follows: I ( ) New I ( ) Renewal/Extension (attach your mailing label) ( ) 1/2 year (6 issues) $12.95 Foreign addresses send 17.95. Payable in U S. funds. ( ) Send me a free sample issue (U.S. addresses only) I ( ) Check or money order (to Bank Note Reporter) to keep current on U.S. and world notes, plus all other related fiscal paper. Bank Note Reporter is your one-stop paper money information source. Make sure you're in the know, by entering your subscription now. Take advantage of our special half-year offer. Or request a free sample issue (U.S. addresses only). Name Address City State Zip ( ) MasterCardNISA = Credit Card No Expires: Mo. Yr Signature Note: Charge orders will be billed as Krause Publications. I col j Pic!man- Oakes Auctions ,1nc. Purveyors of National Bank Notes & U.S. Currency to the collecting fraternity for over 20 years: Our currency auctions were the first to use the Sealed Mail Bid System, which gives you, the bidder and ultimate buyer, the utmost chance to buy a note at a price you want to pay with no one looking over your shoulder. With 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. Currency 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. ichman, 4,...; ,, Dean Oakes Ilrawer 1456 jo2.V3 City, Iowa 5114o 319-338-1144 Oakes Ructions ,1nc. CUSTOMER Una OW John Hickman 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.