Paper Money - Vol. XXXVII, No. 3 - Whole No. 195 - May - June 1998

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,g0fitiV5=;:741§,:i.,■.114 ••••• -.•?;K- 110-A, • -75!' Reltrig,4. .L...1.4 • VOL. XXXVII No. 3 WHOLE No. 195 MAY/JUNE 1998 nuTilizir .14Alre E49461872: Zxa E49461872: The Northeast's Most Important Currency Show THIRD ANNUAL STRASBURG PAPER MONEY COLLECTORS SHOW September 17-20, 1998 The Northeast's most important paper money show is scheduled for Thursday, September 17 to Sunday, September 28, 1998, at The Historic Strasburg Inn, Route 896, Strasburg, Pennsylvania. The show's sponsor, R.M. Smythe & Co., Inc., will conduct two major currency auctions on Friday, September 18, and Saturday, September 19 at 8:00 P.M. (catalogue $15). Other highlights of the show include more than 35 dealers, free parking, a joint breakfast meeting of the Society of Paper Money Collectors and the Currency Club of Chester County with a presentation by William Millar, a meeting of the American Society of Check Collectors, and a special numismatic Santa Claus exhibition courtesy of John and Nancy Wilson. SHOW HOURS Thursday, September 17, 2:00 P.M.-7:00 P.M. (Professional Preview—$25 charity donation) Friday, September 18, 10:00 A.M.— 6:00 P.M. (General public—no charge) Saturday, September 19, 10:00 A.M. — 6:00 P.M. (General public—no charge) Sunday, September 20, 10:00 A.M. —2:00 P.M. (General public—no charge) Dealers participating in the Strasburg Paper Money Collectors Show include: David Amey • Bill Anton • Bob Azpiazu • Dick Balbaton • Keith & Sue Bauman • Dave Berg • Chris Blom Carl Bombara • C.E. Bullowa • Dave Cieniewicz • Paul Cuccia • A.P. Cyrgalis • Tom Denly • Roger Durand Tom Durkin • Steve Eyer • Larry Falater • Don Fisher • Aaron Gaizband • John Hanik • Harry Jones • Buddy Kellar Dave Klein • Bob Kvederas • Art Leister • Larry Marsh • Leo May • Steve Michaels • Claud & Judith Murphy J.C. Neuman • V.H. Oswald • John Parker • Huston Pearson • John Schwartz • Robert Schwartz George Schweighofer • R.M. Smythe & Co. • Dave Strebe • Bob Vlack • Barry Wexler For hotel room reservations contact The Historic Strasburg Inn, Strasburg, Pennsylvania 800-872-0201, 717-687-7691 Fax 717-687-6098 Strasburg is 20 minutes from Lancaster, PA; one hour from Philadelphia; and 2 1/4 hours from New York City. Auction consignments are being accepted through July 17, 1998 Contact Douglas Ball, Martin Gengerke, or Steve Goldsmith to discuss your material. Contact Mary Herzog for show information or to order a catalogue ($15). R.M. Smythe & Co., Inc., 26 Broadway, Suite 271, New York, NY 10004-1701 800-622-1880, 212-943-1880 Fax 212-908-4047 SOCIETY OF PAPER MONEY COLLECTORS INC. PAPER MONEY is published every other month beginning in January by The Society of Paper Money Collectors. Second 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., 1998. All rights reserved. Reproduction of any article, in whole or in part, without express written permission, is prohibited. Individual copies of this issue of PAPER MONEY are available from the Secretary for $2.75 each plus $1 postage. Five or more copies are sent postage free. ADVERTISING RATES SPACE 1 TIME 3 TIMES 6 TIMES Outside 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 sched- ule. 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 1st of the month preceding issue (e.g., Feb. 1 for March/April issue). With advance notice, camera-ready copy will be ac- cepted up to three weeks later. Mechanical Requirements: Full page 42-57 pi- cas; half-page may be either vertical or horizon- tal 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 advertisement in which typographical error should occur upon prompt notification of such error. All advertisingcopyand correspondence should be sent to the Editor. Paper Money Whole No. 195 Pa,v 81 Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XXXVII No. 3 Whole No. 195 MAY/JUNE 1998 ISSN 0031-1162 GENE HESSLER, Editor, P.O. Box 31144, Cincinnati, OH 45231 Manuscripts (ifiss), not under consideration elsewhere, and publications for review should be sent to the Editor. Accepted mss will be published as soon as possible; however, publication in a specific issue cannot be guaranteed. Opinions expressed by authors do not necessarily reflect those of the SPMC. Mss are to be typed on one side only, double-spaced with at least one-inch margins. A copy should be retained by the author. The author's name, address and telephone number should appear on the first page. In addition, although it is not required, you are encouraged to submit a copy on a 31/2 or 51/2 inch MS DOS disk, identified with the name and version of software used: Microsoft Word, Word Perfect or text (ASCII), etc. If disk is submitted, double-spaced printout must accompany disk. IN THIS ISSUE THE BANK ROBBERY AT LIBERTY Steve Whitfield 83 A BRIDGE TO THE PAST Tom Gardner 86 VARIETIES OF SERIES 1995 $1 WEB NOTES Bob Kvederas, Sr. and Bob Kvederas, lr. 88 THE PAPER COLUMN THE ELUSIVE Y AND Z PLATE LETTERS ON NATIONAL BANK NOTES Peter Huntoon 90 AMERICAN CAPITAL MARKETS PREMIER, A REVIEW Ned W. Downing 98 ABOUT TEXAS MOSTLY THE NATIONAL BANKS IN GRAPEVINE, TEXAS Frank Clark 99 THE BUCK STARTS HERE Gene Hessler 100 WERE THERE TWO HUDSON RIVER BANKS IN NEW YORK CITY? Steven M. Goldberg 101 SOCIETY FEATURES THE PRESIDENT'S COLUMN 102 PUBLICATION FUND CONTRIBUTORS 102 NEW MEMBERS 103 MONEY MART 104 For change of address, inquiries concerning non-delivery of PAPER MONEY and for additional copies of this issue contact the Secretary; the address is on the next page. ON THE COVER. This year is the 200th anniversary of the birth of Frantikk Palacky, Czech national leader and historian. This portrait, which appears on the Czechoslovak 1000 korun, P26, was engraved by Karel Wolfe. Page 82 Paper Money Whole No. 195 SOCIETY OF PAPER MONEY COLLECTORS COORDINATOR: 1929-1935 OVERPRINTED NATIONAL CURRENCY PROJECT FRANK BENNETT, P.O. Box 8722, Port St. Lucie, FL 34985 BOARD OF GOVERNORS RAPHAEL ELLENBOGEN, 1840 Harwitch Rd., Upper Arlington, 01-1 43221 GENE HESSLER, P.O. Box 31144, Cincinnati, OH 45231 RON HORSTMAN, 5010 Timber Lane, Gerald, MO 63037 MILTON R. FRIEDBERG, 8803 Brecksville Rd. #7-203, Brecksville, OH 44141-1933 JUDITH MURPHY, P.O. Box 24056, Winston Salem, NC 27114 STEPHEN TAYLOR, 70 West View Avenue, Dover, DE 19901 WENDELL W. WOLKA, P.O. Box 569, Dublin, OH 43017 STEVEN K. WHITFIELD, 14092 W. 115th St., Olathe, KS 66062 OFFICERS PRESIDENT ROBERT COCHRAN, P.O. Box 1085, Florissant, MO 63031 VICE-PRESIDENT FRANK CLARK, P.O. Box 117060, Carrollton, TX 75011 SECRETARY TO BE APPOINTED. TREASURER MARK ANDERSON, 400 Court St., #1, Brooklyn, NY 11231 APPOINTEES EDITOR GENE HESSLER, P.O. Box 31144, Cincinnati, OH 45231 MEMBERSHIP DIRECTOR FRANK CLARK, P.O. Box 117060, Carrollton, TX 75011 WISMER BOOK PROJECT STEVEN K. WHITFIELD, 14092 W. 115th St., Olathe, KS 66062 LEGAL COUNSEL ROBERT J. GALIETTE, 3 Teal Lane, Essex, CT 06246 LIBRARIAN ROGER H. DURAND, P.O. Box 186, Rehoboth, MA02769 PAST-PRESIDENT DEAN OAKES, Drawer 1456, Iowa City, IA 52240 The Society of Paper Money Collectors was organized in 1961 and incorporated in 1964 as a non-profit or- ganization under the laws of the District of Columbia. It is affiliated with the American Numismatic Associa- tion. 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 guardian. They will be preceded by the letter "j". This letter will be removed upon notifica- tion to the secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or vote. Members of the ANA or other recognized numismatic societies are eligible for membership. Other applicants should be sponsored by an SMPC member or provide suitable references. DUES—Annual dues are $24. Members in Canada and Mexico should add $5 to cover additional postage; members throughout the rest of the world add $10. Life membership, payable in installments within one year, is $500. Members who join the Society prior to Oct. 1st receive the magazines already issued in the year in which they join. Members who join after Oct. 1st will have their dues paid through December of the following year. They will also receive, as a bonus, a copy of the magazine issued in November of the year in which they joined. BUYING and SELLING CSA and Obsolete Notes CSA Bonds, Stocks & Financial Items 60-Page Catalog for $5.00 Refundable With Order HUGH SHULL ANA-LM SCNA PCDA CHARTER MBR. P.O. Box 761, Camden, SC 29020 (803) 432-8500 FAX 803-432-9958 SPMC-LM 6 BRNA FUN Paper Money Whole No. 195 Page 83 THE BANK ROBBERY AT LIBERTY by STEVE WI LLD An intriguing aspect of collecting paper money is the relationship that many notes have to significant historic events. This is particularly true in cases where money was the motive behind a criminal act such as kidnap- ping or an unusual bank robbery. A number of bank holdups have achieved a notoriety for one reason or another over the years and several of them can be exam- ined from a numismatic standpoint. As more and more research gets done on bank notes, legislation, and economic history behind the issue of many notes, it appears to me that every aspect of bank- ing from organization to operation is gaining interest in the hobby. A number of serious collectors are avidly seek- ing bank histories, bankers directories and almost any- thing on paper related to the history of banking in America. More dealers and auctioneers are now recording se- rial numbers and known rarities of notes as well as re- lating stories of why particular notes are scarce or of particular interest. Signatures are often the reason for a note's importance, especially when the signer was a figure of some historical importance. The hobby has expanded considerably beyond the accumulation of type notes or notes from a particular area that was prevalent a few short years ago. A number of American bank robberies have held the fascination of the public for many years, either because of the fame of the robber or robbers, or because of the outcome, often resulting in the deaths of innocent vic- tims and sometimes of the robbers. The Northfield raid of 1876 that "did in" the James-Younger gang finally and the Dalton gang's raid on Coffeyville, Kansas in 1892 are examples. Both of those raids involved national banks and therefore collectors may hunt for contemporary notes that might have been part of the loot. The Quantrill raid on Lawrence, Kansas in 1863 and the Confederate raid on St Albans, Vermont in 1864, which included the robbing of banks, are other examples. A few years ago, Bob Lemke wrote an interesting article on the national banks robbed by John Dillinger in 1934 and the possi- bility of collecting a note from each of the victim na- tional banks. As I recall he went so far as to track down Alfred Karpis, a former gang member who was still liv- ing, and got him to autograph one of the notes. That's devotion and determination. OR reasons still not fully understood, probably the most famous, or infamous, bank robbery in the coun- try is the robbery of the Clay County Savings Associa- tion of Liberty, Missouri on February 13th, 1866. This is acknowledged to be the first peacetime, daylight bank rob- bery in America. It is also widely believed to have been the first of a number of bank robberies and other crimes attribut- able to the legendary James-Younger gang. There are a num- ber of mysteries about this particular robbery that will probably never be solved and one in particular that should be fascinat- ing to any real paper money collector. Is some of the loot still out there? The Clay County Savings Association was established in 1864. James Love was president and Greenup Bird was cash- ier. Mr. Bird had previously served as first cashier of the First National Bank of Leavenworth, Charter 182. The bank loca- tion had originally been occupied by the Liberty Branch of the Farmers Bank of Missouri. That bank had suspended late in the Civil War. The Kansas-Missouri area had been a hotbed of hard feel- ings and fierce fighting since before the Civil War. During the war Confederate guerrilas (gangs) and Union irregulars (gangs) had terrorized the countryside and robbed and murdered their enemies, or anyone who had any desirable property, almost at will. The imposition of martial law and the forced evacuation of the western tier of counties in Missouri after the Lawrence raid left a legacy of bad blood that would not soon disappear. At about 2:00 pm in the afternoon, on 13 February, 1866, ten or twelve men rode into the square at Liberty and two of them dismounted and went into the bank. The bank stood (and still does) on the northeast corner of the square. It was a cold day and it had been snowing intermittently. Inside the bank were Greenup Bird, the cashier, and his son William. One of the men warmed himself at the stove and the other presented a $10 note to William and asked for change. When William reached for change the robber drew a pistol and or- dered the bankers to turn over the cash. This technique would be repeated a number of times in the future and become a sort of signature for the gang's bank robberies. The robbers vaulted the counter and entered the open vault. Special deposits of gold and silver coin were scooped into a cotton feed sack and the greenbacks were demanded. Greenup Bird responded that the greenbacks were in a tin box on the counter. One of the men took the notes, which included some Union Military Bonds of Missouri, and added them to the sack. The robbers then tried to lock the two bankers in the vault and departed the building. The vault door had not latched and after waiting a short while, Mr. Bird peeked out to see if they were gone. When convinced the robbers had left, he went to the window F Page 84 Paper Money Whole No. 195 and raised it to sound the alarm. By this time the gang was riding off to the east, firing their pistols in the air. One of the bandits had fired on and killed a young man standing on the corner outside the bank. He was a student at nearby William Jewell College and had taken no action to alarm the robbers. About 30 or 40 minutes later, a posse was assembled and rode off in pursuit of the gang. The snow had gotten worse and quickly obliterated any tracks of the robbers. The pursuit was fruitless. Anyone who has experienced a cold gray Febru- ary snowstorm in northern Missouri can well imagine what the day was like and why it was easy to give up the chase. The bankers were left to assess the losses. Greenup Bird made a written statement of the facts surround- ing the holdup and did a detailed audit of the bank's losses and of what the robbers had failed to take. Two especially in- teresting pieces of information are included in his reports. The first is a detailed listing of what the bank, and presumably other western banks of the period, kept on hand for a normal business day. And secondly, he recorded the serial numbers of the 7 -30 notes that made up $40,000 or $42,000 of the nearly $60,000 heist, an enormous sum of money for the period. The losses to the bank caused it to temporarily suspend and liquidate. After the robbery the bank's assets totalled $72,122.82 with liabilities of $116,537.05. It finally was able to settle its accounts and liabilities for 60 cents on the dollar. It never reopened, although the building was later used by another bank. The building today has been restored as a mu- seum and is open to the public. Also available at the museum is a copy of a letter written by the Treasury Department in 1942, to an inquiry that had been addressed to then Senator Harry Truman. It was the second request, as shown in the response, for the same information. The writer wanted to know "the source of receipt" for the notes. While these notes had space for the name of the initial pur- chaser, i.e. "Payable to the order of ," they were actually bearer bonds. This meant that anyone who redeemed such a note was presumed to be the legal owner. Reporting such notes as stolen did nothing to change their status as money. The Treasury Department did, however, record to whom the notes were payable—usually large banks. And here is where one of the intriguing mysteries arises. Mr. Bird had listed a total of $40,000 in 7-30 notes as losses in 1866, but the Treasury re- sponse referred to $42,000. Of which, records existed on the redemption of only $40,000. According to the Treasury, $2,000 of the stolen notes had never been turned in. They consisted of five $100 notes and three $500 notes of the second issue, Series of 1865. If this is true, it is possible that one or more of these notes may turn up someday as an authentic survivor of this infamous event. This would be like finding Jesse James' gun with his name engraved on the cylinder! The famous "seven-thirties" were three year interest bearing notes issued by the federal government in 1861, 1864 and 1865 as desperate measures to raise funds for war expenses. Referred to as seven-thirties by the public because they paid 7+3/10 % interest per year, they were the highest interest rate notes ever issued by the government. Large amounts of the 1865 issue were paid directly to mustering out soldiers and the remainder were sold by Jay Cooke on behalf of the gov- ernment. Banks and other large investors invested in these and held them as bonds, clipping the coupons and collecting the interest when it came due. The notes stolen at Liberty were consecutively numbered and obviously in new condition when taken. All were cashed within the next two-and-a-half years, mostly in the eastern states. A few were redeemed at St. Louis, Omaha, Louisville and Cincinnati. The missing $2,000 bore the imprinted date of June 15, 1865. The U.S. Treasury Department referred to them as the second and third series; Series of 1864 was the first. All inter- est-bearing notes are extremely rare: some are unknown and others are known as proofs only. For notes dated January 15, 1865 one $100 note, serial number 272963 has been recorded, and one $500 note, serial number 7811 is known. (See The Comprehensive Catalog of U.S. Paper Money by Hessler, 1997). I do not believe that the $2,000 was part of the robbery. Bird himself, in his 1866 audit, indicated that $40,000, the amount redeemed by the Treasury, had been stolen, not $42,000. And all of the notes lost by the bank had been in nice round numbers of notes and dollars. For example, there were groups of $10,000 and $5,000 of different series and denomina- tions. The supposedly missing notes would have made a total of 13, second series $500s at $6,500 and 105 $100s at $10,500. These numbers do not fit the rest of the pattern. However, for some reason the Treasury reported these eight notes as unredeemed and they were in the same se- rial numbered groups as the robbery notes. Could the Treasury have erred? Or do the notes still exist in someone's safe deposit box waiting to be discov- ered by the collecting fra- ternity? Anyway, in case you have any of these, check the $100s for serialToday the bank is a museum. The vault. Paper Money Whole No. 195 Page 85 2/1";'7 /// //7/* On, AVAMAitia // 7 •/% / / 2// “-1 el C.. C. C: C: C'Ct C. C.'eetri D ) r AFTER 1/.177: o. //X,.•';` /r//////47,.4///./1////// ////// ./ fPi/1W/ • 4"////;//////,,,./7 '14:410 440...1/4.4441•7: 71-4 5,7•Ci rq•CE Notes similar to this, but dated lune 15, 1865, were part of the stolen money at Liberty, MO. • tt MIL 11, 77, 13 '141 "41114,41.411.10,17) ONE DOLLAR ."-/ e/i/e /h/i/m- 6/:2;: //..,,e /Air/ftw/.1/..frf.7?///,',., 17/• ////C, 7.;i71'111/1 '///.47/././. WW1 /MX /4,/,4; ///////41 /4./4' I/ 7/./, 1kr, / y ///// //WI .!+//% %// //W./. I /1/ ///// 4,-////,'W il:////e// /;///// Cfr MISSf>.• Or■S".- W ( //7 • RE.0 $.1S11 run 8S.IES•4,.1,-ViCli •Ntl• r111•11, ,i • Missouri Union Military bonds were also stolen. Jesse James was recovering from a chest wound in Nebraska and was not present at the robbery in Liberty, but his brother Frank was probably one of the two men who entered the bank. numbers 11334 to 11338 and the $500s for serial numbers 3308, 3309 and 3310. Please let me know if you find any. Another easily identifiable portion of the loot were Union Military Bonds issued by the state of Missouri. These were one year interest paying bonds printed in the form of bank notes and payable for taxes. Used to pay debts of the state to militia called up during the war, they were payable after one year and paid 6% interest. Like most other obligations of the period, bankers would gather these up and periodically redeem them at the state offices. These bonds are very collectible and attrac- tive issues by American Bank Note Company that occasion- ally appear on the market. Any one of them issued prior to the time of the robbery could have been taken along with the 7- 30 greenbacks. The robbery was never solved and none of the robbers were ever brought to justice for this crime. One man was brought to trial but the case was dropped for lack of evidence and an- other suspect was never tried. No evidence connecting the James with this robbery ever surfaced, except for the robbery pattern, which was used in later crimes that were clearly attributed to them. Within a few years the James-Younger gang would be- come famous for robbing banks and trains. It made them leg- ends of the West to this day, although they were actually nothing more than ruthless killers. Confederate sympathy and anti-Unionism created much public sympathy for the gang members. This was relentlessy stirred up by the editor of the Kansas City paper, a Major Edwards. Seemingly fearless, the James brothers and the Youngers, along with assorted other accomplices picked up when necessary, gave the state of Mis- souri a reputation for lawlessness that ultimately caused the (Continued on page 87) Page 86 Paper Money Whole No. 195 BRIDGE TO ME PAST by the Oldest Member as told to TOM GARDNER Secretary of the Keokuk Coin Club HE snow had let up considerably by the time I had packed away all of the secretary's paraphernalia and made my way out to the parking lot of the high school where the Keokuk Coin Club holds its monthly meetings. Off at the far end of the lot I heard the sound of a starter motor grinding weakly, then making little more than a moan—and then the click that lets you know this is one car that's going to have to be jump-started. I walked over toward the sound. The car belonged to the club's oldest member, that much I was sure of, even before I saw him sitting stiffly behind the steer- ing wheel. Who else, after all, drives a Studebaker Hawk bought new nearly forty years ago? "Evening, Bub," he said, as an oddly satisfied look came over his face. It was a look I had good reason to be suspicious of. The oldest member has a reputation for lurking near the ency- clopedias in the high school library where we meet, and then, right at the end of the meeting, swooping down on an unsus- pecting younger member, his right hand closing on his victim's elbow while his left holds up some dubious and disreputable looking bank note. The story that accompanies this piece of currency, equally dubious and disreputable, will typically last the better part of an hour and leave the listener puzzled, if not out-and-out bewildered. The oldest member, you see, special- izes in stories that stretch the envelope of history and credu- lity, stories without a bottom. I know all this because I have been the oldest member's victim more than once. But not this time. Forewarned is forearmed. "Good evening, sir," I replied. "Having a little car trouble?" "Dead battery. Nothing serious. Say, Bub, I don't suppose you could give me a ride home?" Well, of course I said yes. I was not about to leave the club's oldest member stranded in the high school parking lot on a dark and stormy night. And for the same reason, I turned my car off and walked with him to the door of his house when we arrived there. Besides, I had never been to the oldest member's house, which was, in fact, a carriage house, the last bit of an estate that had been in his family for several generations. The oldest member was descended from a long line of Keokuk merchants, businessmen who, unlike the oldest member, had been content to stay close to home, prospering as they sold everything to the residents of their town—from groceries to hardware. I had heard that the big house had burnt to the ground many years ago, just before the oldest member had joined the navy. "Well, Bub, as long as you're here, you might as well come in for a quick drink. I'm celebrating my, uh, birthday," the oldest member said, unlocking the door with one hand while the other found my elbow. This was, I realized, an invitation I could not easily refuse. "Congratulations, sir" I said, taking off my coat and hanging it over the back of the kitchen chair before sitting. "I didn't real- ize today was your birthday. I could have made an announce- ment at the meeting." The oldest member's "Hurrumph" let me know how little he thought of that idea. As he busied himself at the far end of the kitchen, he explained. "Actually, today isn't my birthday. It was last August. Next August, too, I hope. Nope, I said today is the day I'm celebrating my birthday because today I finally got myself the perfect present. Here, I'll show it to you." Then he set before me a glass with about three ice cubes and an inch of whiskey in it. "It's not every day you get to drink a fine old bourbon like that," he said as he set a second glass down across the table from me and went off to get his present to himself. It was, as I half suspected, a bank note, though more attrac- tive than what the oldest member has usually had to show off, and in better condition. The vignette to the left was the usual sort of allegorical figure, a woman dressed like an ancient Ro- man, holding a caduceus and standing in front of the prod- ucts of commerce. The vignette on the right side was of a short-horned bull, appropriate to a note issued by the Butch- ers' and Drovers' Bank of Saint Louis. The central vignette was exceptionally nice, a view of the Mississippi River at Saint Louis, the many smokestacks on the steamboats in the river balanced by the smokestacks of buildings on shore. This scene was domi- nated by a delicate, arching bridge that crossed the river right in the center of the design. "Now what you see pictured on that note is the Eads Bridge," the oldest member began, "built in the years right after the Civil War by James B. Eads, one of America's greatest engi- neers. The same way you can divide up the career of a great artist like, say, Picasso, you can also divide up the career of James B. Eads. That bridge over the Mississippi at Saint Louis was the great work of his third period. He built it nearly ten years before the Roeblings built the Brooklyn Bridge. It's not only as beautiful a bridge as is the Brooklyn Bridge, but it is its equal as an engineering marvel." "I guess I'd heard about the Eads Bridge," I said. "I took the family to a Cardinals game a couple of years ago, and we drove over it by mistake. I'd made a wrong turn. But I didn't know Eads had ever done anything else very important." "Oh, well, if you go down to New Orleans you'll find an Eads Square right at the foot of Canal Street. They didn't name it for him because of some bridge he built in Saint Louis. You see, after finishing his bridge, he designed and built the jetties that opened the mouth of the Mississippi for larger, ocean- going ships. Those jetties probably had an even greater eco- nomic impact than his bridge did. "And then, after designing jetties for the mouths of several other rivers, Eads went on to the fifth and final period of his career. By this time, the French were trying to build a canal at Panama. Some people were talking about a longer canal, but one with less up and down to it, across Nicaragua. Eads pro- T Paper Money Whole No. 195 Page 87 posed building a railroad across the narrowest part of south- ern Mexico, a railroad that would haul ocean-going ships right out of one ocean and carry them over to the other ocean. That's the one big project he wasn't able to complete. He died in 1887 while the United States Congress was considering grant- ing him a charter for this railway." So far, what the oldest member had told me sounded pretty much like straight-forward history. I knew there had to be more, some special connection, something to boggle the mind. Also, I knew he'd hooked me one more time. I might as well get it over with. "What about the early part of Fads' career, then," I said, "the first and second periods?" "An excellent question," the oldest member replied. "You know, you're getting better at this, Bub." He went on to ex- plain how, during the Civil War, Eads had built the first ironclads, seven of them to begin with, and that one of these seven, the St. Louis, was the first ironclad built in America, built well before the Monitor, and that it was also the first in the world to have engaged a naval force. "Historians will tell you, Bub, that the ironclads Eads built were crucial to the Union getting and maintaining control of the Mississippi. But of course this is the second period in Eads career. Without the first period, he wouldn't have had the money to establish the shipyard that built those ironclads, nor would he have had the knowledge he needed to build his bridge or the jetties at the mouth of the Mississippi." "Okay, I'll bite," I said. What was it that Eads did first?" "He was a wrecker. That was the term they used back then to describe someone who salvaged ships—or river boats. Eads was the first 'scientific' salvager of wrecks on the Mississippi, and he quickly became the biggest and the best. "He got started in the salvage business in 1842, a young man in his early twenties. He was a partner with two Saint Louis men who owned a boat building firm. They were build- ing a salvaging boat to his innovative specifications. However, before this boat was completed, the firm was offered a con- tract to recover a hundred tons of lead from a barge that had sunk just upriver from here, in the Des Moines Rapids. "This was too good an opportunity for Eads to turn down. He hired a professional diver from Chicago, a man who had only worked on the Great Lakes, and then he modified a barge with a derrick and an air pump. When they got to the site of the wreck, though, the diver quickly discovered that the cur- rent was too swift and turbulent for his equipment. "Eads decided to make a sort of diving bell out of materials at hand and try again. He went into town and got himself a forty-gallon whiskey barrel from a local merchant. He attached several ingots of lead around the open bottom of the barrel and ran a strap across this end to sit on. The closed top of the barrel was attached with a block and tackle to the line from his barge's derrick. "The Chicago diver took one look at this rig and said he quit. So Eads said he would try his diving bell out himself. He had a couple of close calls before he got the whole system working properly, but in time he was able to recover most of the lead. That was the first of his many, many dives to the bottom of the Mississippi." Just then moonlight streamed in through the kitchen win- dow, next to where I was sitting. I looked out and could see at the far end of the oldest member's narrow back yard, the moon rising above the Mississippi and a dark band of Illinois. Watch- ing the light glint off the ice-covered Mississippi, I thought about James Eads, a hundred and fifty years ago, walking about on the bottom of that river with nothing but a whiskey barrel to keep out the fast-moving water rising high above him. In- voluntarily I shuddered. "Say, Bub, it looks as though that drink of yours could use a bit of freshening," the oldest member said. I started to say, "No thanks, I'm driving . . ." when I happened to look over to the counter where he stood, still holding up the bottle he had poured our drinks from. It was oldest bottle 1 had ever seen. "That's right, Bub," the oldest member said. "The only bar- rel my great-great-grandfather had available at the time was full. It's a sin to waste good whiskey, don't you think?" (This article and previous "Oldest Member" articles originally appeared in The Iowa Collector. They are reprinted here with permission.) ROBBERY (Continued from page 85) governor to offer a reward resulting in the killing of Jesse in 1882 and the surrender of Frank. The bank robberies were ef- fectively halted after the gang was shot in the Northfield, Min- nesota bank raid in 1876. The robbers actually took the following : Special deposits of gold and silver $5,304.46 Greenbacks and national currency 8,668.18 Union Military Bonds 3,096.00 U.S. 7-30 notes 40,000.00 Total $51,764.18 Also stolen were about $300 in Farmers Bank notes and Union Military Bonds belonging to the Farmers Bank of Missouri. Of interest also is what was overlooked by the robbers, which included: A number of sealed envelopes belonging to customers with unknown contents Clay County Railroad Bonds 7-30 notes and Union Military Bonds belonging to cus- tomers of the bank Greenbacks and national currency $3,473.60 Silver Coins 66.50 Gold 1,798.35 U.S. 7-30 notes in the safe 5,950.00 U.S. 7-30 coupons 202.57 U.S. Revenue Stamps 518.48 Clay County Warrants 11.00 City of Liberty (scrip?) 29.63 Union Military Bonds (1863) 106.70 The bank had accounts with the First National Bank of Leavenworth and the Kansas City Savings Association. Over- drawn accounts totalled $1,026.71 and bad debts were about $3,000. Certificates of deposit signed by the cashier totalled $31,059.23 and other depositors had $78,085.11 on account. The Liberty robbery will forever be part of the lore of the West. 76800001 77000001 77200001 77400001 77600001 77800001 78000001 78200001 78400001 78600001 78800001 79000001 79200001 79400001 79600001 79800001 76820000 77020000 77220000 77420000 77620000 77820000 78020000 78220000 78420000 78620000 78820000 79020000 79220000 79420000 79620000 79820000 76820001 77020001 77220001 77420001 77620001 77820001 78020001 78220001 78420001 78620001 78820001 79020001 79220001 79420001 79620001 79820001 77000000 77200000 77400000 77600000 77800000 78000000 78200000 78400000 78600000 78800000 79000000 79200000 79400000 79600000 79800000 80000000 Al B1 Cl DI El Fl GI H1 A2 B2 C2 D2 E2 F2 G2 H2 80000001 80020000 80020001 80200000 80200001 80220000 80220001 80400000 80400001 80420000 80420001 80600000 80600001 80620000 80620001 80800000 80800001 80820000 80820001 81000000 81000001 81020000 81020001 81200000 81200001 81220000 81220001 81400000 81400001 81420000 81420001 81600000 81600001 81620000 81620001 81800000 81800001 81820000 81820001 82000000 82000001 82020000 82020001 82200000 82200001 82220000 82220001 82400000 82400001 82420000 82420001 82600000 82600001 82620000 82620001 82800000 82800001 82820000 82820001 83000000 83000001 83020000 83020001 83200000 A3 B3 C3 D3 E3 F3 G3 H3 A4 B4 C4 D4 E4 F4 G4 H4 Page 88 Paper Money Whole No. 195 VARIETIES OF SERIES 1995 1 WEB NOTES by BOB KVEDERAS, Sr. and BOB KVEDERAS, Jr. HILE the Bureau of Engraving and Printing (BEP) be- gan production of Series 1995 $1 Federal Reserve Notes in May 1995, it was not until four months later, in September 1995, that they produced the first Series 1995 $1 web notes. In the ten-month period ending in July 1996, the BEP would produce a grand total of 50,560,000 Series 1995 web notes. These notes would prove to be the final produc- tion of an unsuccessful experiment. Ironically, as production ceased, web notes were becoming increasingly popular among collectors. The BEP produced Series 1995 $1 web notes for only the Boston, New York, Cleveland, and Atlanta Federal Reserve Districts. Two runs of 6,400,000 notes each were produced for Boston in September 1995 in the A-C block. Run 6 included TABLE 1 A-D SERIAL NUMBER RANGES FOR RUN 13 SHEET-FED NOTES WEB-FED NOTES POS START END START END lanamiiiinnumat , ritr-912riVtlfr THE ENITEDSTATES OFAII ERICA 4, 74,: wit IFICIMIUUL NIUMMUSINIME iiMEMblealltAILIMEMIMIVOID WON= THE UNITED STATES OF AME RICA 6404 A E D [Y, I )Pii A 800005210 .ir, ', nu: UNITED ST. rES OF A31E1i1C.S. ?;,.:fr'' 1 sc-A 6, ,-zr 41 qi 147, I '4..4,...SV - Figure 1. A-D Run 13 web-regular-web set. Paper Money Whole No. 195 Page 89 TABLE 2 SERIES 1995 BLOCKS AND PLATE USAGE BY RUN A-C 6 A-C 7 D-C 11 F-D 14 F-D 15 B-H 6 B-H 8 A-D 13 2-8 2-8 2-8 2-8 3 4-8 4-8 1 5-8 5-8 5-8 5-8 3 6-8 6-8 6-8 6-8 3 7-8 7-8 1 1-9 1-9 1-9 1-9 1-9 4 2-9 2-9 2-9 2-9 2-9 2-9 2-9 2-9 7 3-9 3-9 1 4-9 4-9 4-9 4-9 3 5-9 5-9 5-9 2 1-10 1-10 1-10 1-10 1-10 1-10 5 2-10 2-10 2-10 2 3-10 3-10 3-10 2 4-10 4-10 4-10 4-10 3 5-10 5-10 1 1-12 1-12 1 5-12 5-12 1 6-12 6-12 2 5 5 6 6 7 6 5 5 45 serials from A32000001C to A38400000C and Run 7 included serials from A38400001 C to A44800000C. Two runs were pro- duced for Atlanta in November 1995, in the RD block. Run 14 included serials from F83200001D to F89600000D, while Run 15 included serials from F89600001D to F96000000D. One run of 6,400,000 notes was also produced in November 1995 for Cleveland as Run 11 in the D-C block with serials from D64000001C to D70400000C. These were the only web notes of any series for the Cleveland District. Five months later, in April 1996, two runs were produced for New York in the B- H block. Run 6 included serials from B32000001H to B38400000H, while Run 8 included serials from B44800001H to B51260000H. In July 1996 a final run of 6,400,000 notes was to have been produced for the Boston District as Run 13 in the A-D block with serial numbers in the A76800001D to A83200000D range. As it turned out, there remained only 180,000 sheets of web note stock available for overprinting. The BEP then used 20,000 sheets of regular note stock to fill out the run. The re- sult was a 6,400,000-note run, with intermixed serial num- bers, consisting of 5,760,000 web-fed notes and 640,000 regular sheet-fed $1 Federal Reserve Notes. This intermixing of web and regular notes produced the unusual serial number ranges shown in Table 1. Because of the intermixing of serial numbers it has been relatively easy for collectors to put to- gether web-regular-web sets of notes, as shown in Figure 1, or even regular-web-regular sets. Notice that it be should pos- sible for some extremely lucky collector to find one of the thirty- two regular-to-web changeover pairs. Most will be happy to Na Page 90 Paper Money Whole No. 195 have a pair, one hundred or even one thousand serials apart. Though the figures in Table 1 have been generated from data in official BEP production reports, there remains a possibility that the actual numbers of sheets of each type of stock may have been rounded off. Further reporting and analysis of ob- served serial numbers may modify the changeover numbers. During Series 1995 production, the BEP used seven face plates, numbered 1 through 7. The four back plates used were 8, 9, 10, and 12. Apparently, back plate 11 was not used. It is probable that back plate 8 has the unique distinction of being the only plate to produce notes for all three series of web notes. The face-back matings of the seven face and four back plates resulted in eighteen different combinations. These combina- tions are as follows: 2-8, 4-8, 5-8, 6-8, 7-8, 1-9, 2-9, 3-9, 4-9, 5-9, 1-10, 2-10, 3-10, 4-10, 5-10, 1-12, 5-12, and 6-12. Collectors have several options for assembling sets of Series 1995 web notes. The simplest would be a four-note set con- sisting of one note from each of the four districts mentioned above. A five-note set would include Boston district notes from the A-C and the A-D blocks. Almost as easy, would be an eight- note set to include all of the eight different production runs. For collectors interested in plate combinations, a set of all eigh- teen reported combinations should be a bit more difficult to assemble. If one seeks an even greater challenge, a 34-note set could be pursued. This set would include every plate combi- nation used in each of the five known web blocks. For the truly avid, there is an ultimate challenge. The definitive Series 1995 web note set would include one note for each plate combination, for each district, and for each run, and a non-web note from Run 13 of the A-D block. As of this writing, collectors and researchers have reported a confirmed total of 45 such plate and district combinations. Table 2 shows the confirmed plate and district combinations. Total usages for each plate combination are shown in the right-hand col- umn and for each run on the bottom line. Despite the end of web note production, the future of web note collecting appears bright. The notes are popular, easily recognized by knowledgeable collectors, and readily available in all grades of condition. The three series provide a wide range of challenges for avid or even casual collectors. Even though some of the rarities have reached legitimately high prices, there is enough moderately priced material on the market to satisfy collectors at all levels of interest. The information provided in this and the preceding articles has been collected and analyzed by several paper money en- thusiasts, based on observations and data from innumerable sources. There is still room for refinement of this information. Readers are encouraged to send any updates, additions, cor- rections, or comments to: Bob Kvederas, P.O. Box 34, Titusville, FL 32781-0034. Acknowledgments The authors wish to acknowledge the help and information provided by collectors from all over the country, and especially by Tom Conklin, Jim Hodgson, Greg McNeal, Doug Murray, John Schwartz, Bob Totz, and Doug Walcutt. 6 Ar isbk-ir usivelTand ale Ld eJrs on BanL Noies OBJECTIVE The purpose of this article is to describe how the letters Y and Z could be used as plate letters on $10 national bank notes. Along the way we will review how plate letters were assigned to national bank note plates. THE PAPER COLUMN by Peter Huntoon LETTERING CONVENTIONS LATE letters have always been used on national bank note face plates. The primary purpose for the letters was to differentiate between the subjects of the same denomination on a given plate. The advancement of plate let- ters on replacement plates was a Bureau of Engraving and Print- ing innovation that commenced in 1878, during printing the Series of 1875. Plate lettering conventions became standard- ized by the time the Series of 1882 was introduced. The fol- lowing guidelines had evolved by then. 1. Each denomination had an independent lettering sequence. 2. The lettering began at A with the start of each new series for each bank. 3. Lettering advanced consecutively down the plate, and then from plate to plate in the order in which the plates were made. 4. Plate letters reverted to A if the bank title changed or the bank reassumed an earlier charter number. Letters did not change on territorial plates that were altered into state plates. 5. Plate letters were advanced on existing Series of 1882 and Series of 1902 plates when they were altered to the "or other securities" variety with the introduction of the date back types in 1908. The important fact here is that each denomination had is own lettering sequence which threaded through all the plates The IF lona P Paper Money Whole No. 195 Page 91 containing subjects of that denomination. If different plate combinations were used, the letters simply walked consecu- tively through them all. One common situation involved banks that used both the 10-10-10-20 and 10-10-10-10 combina- tions in the same series. If a 10-10-10-20 plate came first and was followed by a 10-10-10-10, the plates were respectively lettered A-B-C-A and D-E-F-G. LETTERING SEQUENCE Plate lettering is particularly interesting for the banks with huge circulations because so many plates were required. Table 1 shows the lettering sequence for the 5-5-5-5 and 10-10-10-20 Series of 1902 plates for The First National Bank of the City of New York, NY (29). This bank held the all time record for the numbers of these two plate combinations made within a se- ries. Notice from Table 1 how the lettering sequence usually did not include the full alphabet. The sixth format in the succes- sion of 5-5-5-5 plates was U-V-W-X. The letters Y and Z were skipped so that the seventh format was A A-B B-CC-DD . Thus, the style of letting was homogeneous on the plate instead of the heterogeneous Y-Z-A A -B B . The second pass through the alphabet utilized doubled let- ters. Numbered subscripts were used beginning with the third pass through the alphabet. For example, the 13th 5-5-5-5 for- mat was A3 -B3 -C 3 -D 3 , the 19th was A 4 -B4-C4 -D4 , and so on. The record shattering A 7 -B7 -C7 -D 7 Series of 1902 5 5 5 5 plate for The First National Bank of the City of New York (29) was ordered on November 5, 1928! The double letter variety was used on Series of 1882 plates for a number of banks, however the numerical subscripts were never reached in that series. We could have seen a Series of 1882 plate lettered A 3 -B 3 -C 3 -D 3 had The National Bank of Commerce in New York (733) required just one more Series of 1882 5 5 5 5 plate! As shown in Table 1, the letters Y and Z also were avoided in successions of 10-10-10-20 plates. The eighth format in that succession was V-W-X-H. The letters Y and Z were skipped on the $10s on the ninth format, so the plate was lettered A A -B B -Cc-I. Here, the styles of letters used on like denominations remained homogeneous, but notice that the $20 was consecu- tive from the preceding format. The 24th format was V3 -W3 - X3 -X. The Y was not used on the $20 on the next plate. Rather, the Y and Z were once again skipped and the 25th format was A4 -B 4 -C4 -AA ! The P 3 -Q 3-R5 -N N Series of 1902 10-10-10-20 plate for The First National Bank of the City of New York (29) was completed on August 6, 1928. Plate lettering was far more interesting when a large bank utilized a mix of 10-10-10-20 and 10-10-10-10 plates. A good example involves the listing in Table 2 for the Series of 1882 plates for San Francisco (5105), a bank that had a title change. Notice for this bank that plate lettering reverted to A after the title change. More interesting, follow the progression of plate letters for the $10s through the succession of 10-10-10-20 and 10-10-10-10 plates. In this example, happenstance conspired to prevent the use of either plate letters Y or Z. USE OF Y AND Z The letters Y and Z were reached only on $10s and only when a bank used certain successions of intermixed 10-10-10- 20 and 10-10-10-10 plates. We have found only a handful of examples scattered sparsely through the Series of 1882 and 1902. Table 1. Succession of plate letters on the Series of 1902 5-5-5-5 and 10-10-10-20 plates for The First National Bank of the City of New York, New York (29). Data from Bureau of Engraving and Printing (undated a,b). 5-5-5-5: A-B-C-D AF-BE-CE-DG A3-B3-C3-D3 A,- B 4 - - D 4 E-F-G-H E E -F F -G G -H H E 3 -F 3 -G 3 -H 3 E 4 — F 4 —G 4 — H 4 I -J - K- L j — K K — L L 1 3 -J 3 - K 3 - L 3 1 4 —J 4 —K 4 — L 4 M-N-0-P M 5 41 5 -0 0 —P p M 3 -N 3 -0 3 -P 3 M 4 — N 4 - 0 4 — P4 Q-R-S-T Q 5 — R R -S s - T T C) 3 -R 3 -S 3 -T 3 Q 4 —R 4 — S 4 -14 U-V-W-X U u — v v — W W — X x U 3 -V 3 -W 3 -X 3 U 4 -1/ 4 4/ 4 — X 4 10-10-10-20: A-B-C-A AA-BB-CG-I A 3 -B 3 -C 3 -Q A 4 —B 4 —C 4 —A4 D-E-F-B DH-EE-FF-J D 3 -E 3 -F 3 -R D 4 — E 4 — F 4 — B B G-H- I -C G G - H H - I I - K G 3 -H 3 - I 3 -S G 4 - 1-1 4 — 1 4 —C 4 J-K-L-D J j -K K -L L -L J 3 - K 3 — L 3 — T J 4 — K4 — L L —D D M-N-0-E MM -N N -0 0 -M M 3 -N 3 -0 3 -U M 4 41 4 — 0 4 — E E P-Q-R-F P P -QG -R R - N P 3 -Q 3 -R 3 - V P 4 —Q 4 —R 4 —F F S-T-U-G S s — T T — U u — 0 S 3 -T 3 -U 3 -W S 4 —T 4 —U 4 — G 5 V-W-X-H v v —Ww —X x — P V 3 -W 3 -X 3 -X V 4 — W 4 — X 4 — H H A 5 — B 5 — 0 5 — D 5 A5—B6—C6—D5 E 6 — F s —G 6 -1-1 5 E6—F6—G6—E16 1 5 —J 5 —K 5 — L 5 16—J6—K6— L 5 M5—N5-05—P5 M6—N6-06—P6 Q 5 - 12 5 — S 5 — T 5 Q6—R6—S6— T 6 U s — v s —W s —X s 116-116-146— X 6 A7-B7-C7-D7 A 5 -B 5 -0 5 - I 1 D 5 -E 5 -F 5 -J j G 5 -H 5 - I E -K K J 5 - K 5 — L 5 — L L M 5 — N 5 - 0 5 — Mm P 5 —Q 5 —R 5 —N 5 Page 92 Paper Money Whole No. 195 Table 2. Series of 1882 plates for the The Nevada National Bank and Wells Fargo Ne- vada National Bank of San Francisco, California (5105). Data from Bureau of Engraving and Printing (undated-b). 5-5-5-5 10-10-10-20 10-10-10-10 50-100 The Nevada National Bank Series of 1882 brown back plates: A-B-C-D E-F-G-H I-J-K-L M-N-0-P Q-R-S-T A-B-C-A D-E-F-B G-H-I-C A-A The Wells Fargo Nevada National 9, 1905) Bank (title changed April Series of 1882 brown backs plates: G-H-I-J K-L-M-N A-B-C-D A-B-C-A E-F-G-H D-E-F-B Series of 1882 date back plates: I-J-K-L 0-P-Q-C M-N-0-P R-S-T-D Q-R-S-T U-V-W-X AA-B B-C c -D D Series of 1882 value backs: U-V-W-X A A-B B -C c -D B E E - F F -G G -H H I j- K K - E E - F F-G G -H H I I -J j -K K -L L M n -N N -0o -P p Well Fargo Nevada plates that were backs: altered from brown to date Combination 5-5-5-5 10-10-10-10 10-10-10-20 10-10-10-20 Brown Back E-F-G-H K-L-M-N A-B-C-A D-E-F-B Date Back I-J-K-L U-V-W-X 0-P-Q-C R-S-T-D The earliest and most spectacular example involves the enor- mous Series of 1902 issuances for the National Bank of Com- merce in New York (733). Table 3 illustrates how Y and Z were reached on the red seal $10s, and also how Yy was reached on the date back 10s. I have been able to find two examples where Y and Z were used in the $10 Series of 1882 date back issues. These occurred on plates for The National Bank of Commerce in St. Louis (4178) and the National Shawmut Bank of Boston (5155). Notice in Tables 4 and 5 for the St. Louis and Boston cases that the letters Y and Z happened to land on altered plates. Those plates originally were made and used as brown back faces, and converted into date back faces following passage of the Aldrich-Vreeland Act on May 30, 1908. The Y and Z ap- peared when the plates were relettered. The St. Louis was a 10- 10-10-20 (X-Y-Z-F) and the Boston a 10-10-10-10 (W-X-Y-Z). We know that Y and Z were again used at least twice much later in the Series of 1902 blue seal issues. The known cases involve $10s for The Second National Bank of Wilkes Barre, Pennsylvania (104), and The First National Bank of Hartford, Connecticut (121). The W-X-Y-Z 10-10-10-10 plate for Hart- ford was ordered September 16, 1926, and the one for Wilkes Barre February 6, 1929. Table 3. Series of 1882 and 1902 plates made for The National Bank of Commerce in New York, New York (733). Notice how the Y, Z and Yy plate letters were reached in the Series of 1902 10-10-10-10 and 10-10-10-20 combinations. Data from Bureau of Engraving and Printing (undated-a,b). Date Plate Date Plate 5-5-5-5 10-10-10-10 10-10-10-20 50-100 Approved Canceled Series of 1882 brown back plates: A-B-C-D Jan 8, 1885 Nov 19, 1894 A-B-C-A Jan 9, 1885 Nov 19, 1894 A-A Jan 9, 1885 Apr 12, 1905' E-F-G-H May 25, 1893 Jan 25, 1897 D-E-F-B Aug 12, 1893 Mar 29, 1901 I-J-K-L Aug 26, 1896 Nov 9, 1901 M-N-0-P Jan 22, 1900 Feb 26, 1901a Q-R-S-T Jan 24, 1900 May 27, 1901 G-H-I-C Apr 3, 1900 Mar 29, 1901 J-K-L-D Mar 27, 1901 Aug 4, 1902 U-V-W-X May 27, 1901 Aug 4, 1902 A A-8 8 -C c-D D Jul 31, 1902 Jun 29, 1903 M-N-0-E Jul 31, 1902 Apr 12, 1905a E E-F F-G G -H H Aug 5, 1902 Sep 17, 1903 P-Q-R-F Aug 5, 1902 Apr 12, 1905' I I -J J -K K-L L Jun 27, 1903 Jun 25, 1904 M m-N N-0 0-P p Jul 8, 1903 Apr 12, 1905' Q Q-R,-S s-T T Sep 16, 1903 Apr 12, 1905' S-T-U-G Jun 4, 1904 Apr 12, 1905' U N-V v -W W-X x Jun 24, 1904 Apr 12, 1905' 5-5-5-5 10-10-10-10 10-10-10-20 50-50-50-100 Series of 1902 red seal plates: A-B-C-A Dec 19, 1904 Nov 14, 1905 A-B-C-D Dec 20, 1904 May 8, 1905 E-F-G-H Jan 19, 1905 May 12, 1905 D-E-F-B Jan 28, 1905 Aug 4, 1905 G-H-I-C Mar 13, 1905 Nov 10, 1905 I-J-K-L May 6, 1905 Sep 5, 1907 M-N-0-P May 11, 1905 Aug 3, 1907 Q-R-S-T May 31, 1905 Sep 5, 1907 U-V-W-X May 31, 1905 altered to MG -N„-0 0 -P R J-K-L-D May 31, 1905 Apr 14, 1909 M-N-O-E May 31, 1905 Apr 14, 1909 P-Q-R-F Aug 4, 1905 Apr 14, 1909 S-T-U-V Sep 1, 1906 Mar 22, 1907 W-X-Y-Z Mar 11, 1907 Jan 14, 1908 AA-B B -C C -D D Apr 11, 1907 Apr 14, 1909 AA -B s -C c -D R Aug 13, 1907 altered to Q Q -R R -S s -T T E E -F F -G G -H H Sep 5, 1907 altered to U N -V v -W W -X x I I -J j -K K -L T Sep 5, 1907 altered to A 3 -B 3 -C 3 -D 3 E E-F F -G G -H H Jan 20, 1908 Apr 14, 1909 Series of 1902 date back plates: MM - N N -0 a - Pp Jun 13, 1908 Dec 3, 1909 QQ -R R -S s -T T Jun 16, 1908 Oct 10, 1908 U N -V v -WW -X x Jun 13, 1908 Nov 3, 1910 A 3 -B 3 -C 3 -D 3 Jun 18, 1908 Feb 26, 1909 I i -J j -K K -G Jul 3, 1908 Apr 9, 1929 L T -M il -N N -H Jul 1, 1908 Apr 9, 1929 00-P p -Q Q-I Jul 1, 1908 Apr 9, 1929 R R -S s -T T -U N Jul 2, 1908 Sep 9, 1909 V v -W H -X x -Y, E 3 -F 3 -G 3 -H 3 Jul 1, 1908 Oct 10, 1908 Jan 15, 1910 Feb 17, 1910 1 3 -J 3 -K 3 -L 3 Feb 25, 1909 Dec 20, 1911 A 3 -B 3 -C 3 -D 3 Sep 4, 1909 Nov 3, 1910 E 3 - F 3 - G 3 - H 3 Jan 15, 1910 Mar 16, 1911 M 3 -N 3 -0 3 -P 3 Feb 15, 1910 Sep 26, 1911 Q 3 -R 3 -S 3 -T 3 Feb 26, 1910 Mar 7, 1912 U 3 -V 3 -W 3 -X 3 Feb 26, 1910 Mar 22, 1912 I 3 -J 3 -K3 -L 3 Oct 28, 1910 Dec 27, 1911 A i -B,-C T -D, M 3 -N 3 -0 3 -P 3 Nov 1, 1910 Feb 23, 1911 Mar 29, 1911 Mar 15, 1912 Q 3 - R 3 - S 3 - T 3 Mar 14, 1912 Oct 31, 1912 E 1 - F 4 - G 4 - H 4 Mar 20, 1912 Oct 8, 1912 I 4 - ,1 4 - K4 - Li Oct 5, 1912 Jul 7, 1913 U 3 -V 3 -W 3 -X 3 Oct 29, 1912 Oct 3, 1913 M 4 - N 4 -0 4 - 1) 4 Jul 3, 1913 Oct 1, 1913 Q 4 - R 4 - S 4 - T 4 Sep 30, 1913 May 28, 1914 Paper Money Whole No. 195 Page 95 O fb`l, = e ,.,_ I I w d' -_, - - ,:,, O == YY E ,.y, ' ,....„ c._ iI t: 7-'ci., O LD 0 . 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U r•cs rcs 0 0 0 0 0 U al . . e ca 0 -0 Z < < < < < 0 .) f ▪ l- 0 ect ,„1.1 O (...., on4-, CO ,•■ 01 •-=a) 4co "t e., m 1 1 I I I • 4_ ..= : , c.Q54,' I c I I 1 I I ,-, Ln O 0o a.) • r- u.) ,.. -, ).4-, i I I i i 4... ,., 4-4 Q.) O . cd o ¢ ,=, c)) .–D z m: = ._ ,,:,, ,,, •• CL 00. I I 0 CU O *8 Et,, i.,,— _c (3., C) i ,-I I i O Z 4-) C0 • (./1 4 it....i arci 0 I I a) v) acs o O_cm i_ri ‹c co. 4-, = it? °I: 2-0 m O U r0I -I-, i- W 1-ln ...... , -CI I 1 al 0 il', : MCr, = I I a/ N Z70 3 U. al = 00 © 0 I ICO y I-0, ... L. 0_ ,I (/) 1_0 -0 CL) CD t 4S _0 On 0 CV4-) ,,„ .. ••./ CO .--) - (4 ,,,Z.01 . E , .., CO V. : E ,-1c6+ o 0 .,. C- -, co) I-4 04 M0 -o 4-' r1:5 0) I al I I I I I I 1 ' L >, cl■ I sr) I 1 I I I Ia) - D J-4-) o ..- -0 S. • ro el i cu 1 1 1 . 1 1 E -, S. N ¢ U.! )--I Cr = ¢ 0 ' Ocf)o nci.-1 Although theoretically possible, the letters Y and Z were never 1 1„ -I- C °-: O`vi" 0 = _c used in a 50-100/50-50-50-100 mix because no bank required I ciZ' IT c) I i I i *r- enough plates of those combinations to cycle to the end of the(--) LO 0 +-, cu 1--1 CO Li 4 4- 1 I I '--D Z I ET' rcs 4^4' x • alphabet.• ci., a,cm ,-i ,, z i4: .-. Of u +,v) CU () -rcs ,t, o PLATE USAGE FOR LARGE BANKS 0 q- • _o = o The demand for notes for the largest banks was so great that o co a) _CI -0 more than one plate of a given combination was in use at the ''' - a) un 4, a) s-rcs same time. This is evident for the $5 Series of 1902 red seal ". 9 i= _. C1) 4 L'-' 4-) - and date back issues for the National Bank of Commerce in LC) cu CU 1 ) c_.) c, 0 1 co1 0 4- New York (733). Notice from Table 3 that four 5-5-5-5 red "? = o s- I t?“' ur 1- seal plates were altered into date back plates in 1908, reveal- L.) = Ur n:I ing that all four were in active use at that time. This was cer- tainly the case for other giant banks as well. Consequently it is possible to find pairs of notes where the one with the higher serial number was printed from the earlier plate. NATIONAL CI:ItitLN41*. '810' 8.`r 're S '•-,#)- 141#a"T' ! • hi TEN DOL1L1IIS 0 , 1 0,111(1 7s i $10 Series of 1882 date back proof from The National Bank of Cononerce in St. Louis (4178), with plate letter Z. (Photo by Douglas Mudd, Smithsonian Institution.) NanionalCiunnipetkev UNITED STATES OFAMER1CA 149614. RKNI.Or MO, z Ee(Mf Iftpurfekti:oxii 121 mattttaizzz* \Ain ii)V414.11441,1,41,Ltila $10 Series of 1902 blue seal plain back note from The First National Bank of Hartford, Connecticut (121), with plate letter Z. (Photo courtesy of Robert Kvederas.) Page 96 Paper Money Whole No. 195 Table 4, Continued Date Plate Date Plate 5-5-5-5 10-10-10-10 10-10-10-20 Approved Canceled Series of 1882 date back plates: E E -F E -G G -H, I I -J J -K K -L L Jul 28, 1908 Jul 28, 1908 Mar 3, 1910' Mar 3, 1910' X-Y-Z-F Aug 12, 1908 Mar 3, 1910' AA -B B -C c -G Aug 7, 1908 Mar 3, 1910' D oT E E -F r -G G Aug 7, 1908 Mar 3, 1910' H H -I I -J J -KK Aug 8, 1908 Mar 3, 1910' M - -0 0 -P p Jun 4, 1909 Mar 3, 1910' a. The date of cancelation was omitted from the ledger; date shown is when the plate was destroyed. The corporate life of the bank was extended in 1909, hence the plates destroyed on March 3, 1910, were rendered obsolete. UNITED STATES !WAN ERICA NO../ A794591:-z ihNiotigic4-441itiwg 733 474111:44.1r444114.1.14611131.11 , ""P $10 Series of 1902 red seal from the National Bank of Commerce in New York (733), with plate letter Z. (Photo courtesy of Doug Walcutt.) Paper Money Whole No. 195 Page 97 Table 5. Series of 1882 10-10-10-10 and 10-10-10-20 plates made for the National Shawmut Bank of Boston, Massachusetts (5155). Notice how the Y and Z plate letters were reached in the 10-10-10-10 date back combination. Data from Bureau of Engraving and Printing (un- dated-b) 10-10-10-20 10-10-10-10 Series of 1882 brown back plates: A - B - C - A D-E-F-B G-H-I-C J-K-L-D M-N-0-P atlered to Q-R-S-E atlered to T-U-V-F atlered to W-X-Y-Z Series of 1882 date back plates: Q-R-S-E T-U-V-F AA-BB -Cr-DD E E -F F -G G -H H I I -J J -K K -L L DISCUSSION It was very unusual for the letters Y and Z to be used on na- tional bank note face plates. The only denomination on which these letters appeared were $10s. All resulted because, through serendipity, the affected banks used just the right mix of 10- 10-10-20 and 10-10-10-10 plates within a given series. We have documented Y and Z plate letters on $10 Series of 1882 date backs for two banks (4178 and 5155), Y and Z on 1902 red seals for one bank (733), Yy on 1902 date backs for one bank (733), and Y and Z on 1902 plain backs for two banks (104 and 121). It is most probable that this list is in- complete. ACKNOWLEDGMENT James Hughes at the Smithsonian Institution and Wayne De Cesar at the National Archives were most helpful in providing access to the data presented here. REFERENCES CITED AND SOURCES OF DATA Bureau of Engraving and Printing, various dates-a, Certified proofs from U. S. national bank note face plates: National Numismatic Collections, Smithsonian Institution, Washington, DC. Bureau of Engraving and Printing, various dates-b, National bank note face plate history ledgers: U. S. National Archives, Washington, DC. Page 98 Paper Money Whole No. 195 AMERICAN CAPITAL MARKETS PREMIER ALL Streeters, stockholders, bankers, businessmen, and students of history take note. For the first time ever a comprehensive exhibit of the long forgotten but most important financial history of the foundation period of our American economy is on display at the Museum of Financial History (26 Broadway, New York, NY 10004). In the implementation of Alexander Hamilton's nation- building 1790 "Plan . . . to Restore the Public Credit," the Trea- sury Department under the 1789 newly ratified Constitution exchanged approximately $65,000,000 of new standardized national securities for all of the many diverse unpaid Revolu- tionary War State and Continental debts. Hamilton succeeded in creating a single solution to the myriad of financial prob- lems of each of the 13 original States and the Continental Congress. A cottage industry of mostly part time brokers and adventurers had grown up around the trading of the Byzan- tine array of securities used by the 13 States and Continental Congress to finance the 1775-83 Revolutionary War. After 1790, while the solution to paying off these war debts was being implemented, the business of trading securities became more of a full time specialized profession as an active interna- tional market developed in Hamilton's popular new standard- ized securities and new stockholder-owned companies were formed to meet the needs of our emerging country. Historians have failed to adequately describe the financial history of this period and its dominating historical impact in sharp contrast to the endless stream of books interpreting and rehashing early American military and political history. Un- like the systematic collection of military and political history by a host of government and institutional repositories, much, if not most, of the important financial ephemera of our early history has unfortunately either been destroyed or scattered to the winds with no central repository emerging until the recent founding of the Museum of American Financial History. The net result is that the complex history of the foundation period of our country has not been well appreciated by recent genera- tions of Americans and the value of our national heritage has been sadly diminished. American capital market history collectors have risen to the challenge and attempted to intelligently piece together the original documents, letters, and financial instruments used in the period to learn what happened. A whole new view of our nation's beginning from a financial standpoint has resulted after over 200 years of neglect. It's easier to understand how our American capital markets have come today to dominate world securities trading when we realize that our country's present Constitutional system of government was designed primarily to enhance the value of the mostly defaulted-on se- curities then trading there and ultimately to honor our com- mitments while maintaining our hard fought-for freedom. Nov, likely for the first time in history, a cogent collection of those mostly rare original documents, letters, and financial instruments has been mounted in a public exhibition entitled "Rags to Riches," at the 26 Broadway, New York City attractive new quarters of the Museum of American Financial History. Most Americans will be amazed that neither the United States Government, the Treasury Department nor any other public or private institution has such a collection of our country's most important financial beginnings as is on display in this exhibit through September. On display is an array of the incredibly diverse, individually tailored financial instruments, each creatively designed to best meet the special financial needs of its issuer during the tumul- tuous times of our nation's genesis. These are the mostly rare remnants of the first economy in the world to honorably make paper and promises do the work of hard cash over an extended period of time. From 1775 to 1793 they lead us on a journey which is the birth of American Capitalism. An example of America's first security, a Paul Revere engraved and printed 1775 King Philip Bond, can be found on the same wall as an example of the first obligation of all the 13 states combined, the 1777 Continental Loan Office Certificate. An incredible example of one of the most important American securities ever issued, a 3% 1792 Assumed Debt Certificate of Stock in the Public Funds of the United States issued to and signed by George Washington, is a wonderful interpretation of the new securities exchanged in the implementation of Hamilton's 1790 "Plan . . . to Restore the Public Credit." The share certificate in the 1784 Massachusetts Bank signed by James Bowdoin is the second oldest share certificate of an American business known. The William Duer 1791 signed share of the Society for Estab- lishing Useful Manufacturers is an early reminder of the pow- erful influence greed would exhibit time and again in the new American capital markets! Far too many interesting pieces, many signed by our Founding Fathers, are displayed to de- scribe adequately here. The heart of the exhibit is a selection of financial instruments used during and after the Revolution- ary War arranged individually by the original 13 States, Conti- nental Congress, and even the 14th State of Vermont. Mostly these are the securities that financed the war but then placed our country into default and depression. The seemingly un- solvable problem of who was responsible to pay them off (and how) created the need for a new government, the Constitu- tional Convention, Hamilton's "Plan . . ." and ultimately for "Wall Street" itself. A trip to the museum will help you under- stand how the mammoth debt problem was overcome by the simultaneous implementation of our present system of gov- ernment with Hamilton's new financial system. If there is any problem with this exhibit it is with the sub- stantial number of displayed items lacking accompanying nar- rative as to its use and importance to the overall exhibit. But for the ambitious scope of the undertaking and for the very credible exhibit that results, this first time exhibit ranks an A+. This reviewer hopes more exhibits will be forthcoming from this period of history with a narrower focus about its most important individual themes, i.e. Shay's Rebellion, Privateering and the Earliest Share Trading, Hamilton's 1790-3 Most Im- portant in American History Financial Transaction, Wall Street's Earliest Brokers and Auctioneers, the First American Bull Mar- ket (1787-92) and the First Crash (March-May 1792)—all (Continued on page 99) . 41ftli.M... Autirio, 1. a- :;--er..i''':;'"R" - -''- '-----i1:lir 270., LISMOr tf -04.'' ,,,,,Wr: - ' '•'; 1.7111^WSIte1,11,1111:ti ?.6,,4,.." .)17, -'---4-5 Ntiodi."ii .4iii• ... HE Grapevinevine National Bank was chartered on June 19, 1900 with Charter 5439. This was the town's first bank and its capital was $25,000. The bank vol- untarily liquidated itself on December 31, 1918. It was suc- ceeded by the Grapevine Home Bank. Presently, the former building for the bank has been remodeled on the inside and thz current occupants are a drug store and a rural artist studio. The bank issued only Second Charter $20 Brown Backs, $10 and $20 Date Backs, and $10 and $20 Value Backs. The total amount of circulation issued was $192,150, and the amount outstanding when the bank closed was $25,000. T Y400487H 014iLati Ng* -11*-141 83134-annomErtf- 'it?0,0,,, LULU., 141479Y0 SZ 174,0043.-1 :A Paper Money Whole No. 195 Page 99 ABOUT TEZ&MOSTLY THE NATIONAL BANKS IN GRAPEVINE, TEXAS by FRANK CLARK [This article originally appeared in the January 1991 issue of TNA News, published by the Texas Numismatic Association. It is reprinted with their permission.] Grapevine is a town northwest of Fort Worth in north Tarrant County. It is on the edge of the Dallas-Fort Worth Interna- tional Airport. It is rapidly growing now because of this prox- imity to the airport. However, at the turn of the century it was a slower-paced community. The town had a total of three na- tional banks. All of the banks were located on Main Street. This article will introduce them to you along with some of their bank notes. A Series 1882 Date Back $20 issued by The Grapevine National Bank, Charter 5439. THE GRAPEVINE NATIONAL BANK THE FARMERS NATIONAL BANK OF GRAPEVINE The Farmers National Bank of Grapevine was chartered in August of 1906 with Charter 8318. Its capital was $30,000. A Series 1902 Plain Back $20 issued by The Fanners National Bank ol Grapevine, Charter 8318. This bank voluntarily liquidated itself also, on December 28, 1927. The Farmers National issued only Series 1902 Third Charter notes; these were $10 and $20 Red Seals, $10 and $20 Date Backs, and $10 and $20 Plain Backs. The total amount of circulation was $593,350. The amount outstanding when the bank closed was $9,570. THE TARRANT COUNTY NATIONAL BANK OF GRAPEVINE The Tarrant County National Bank of Grapevine was char- tered in May of 1925 with Charter 12708. It had a capital of $50,000. When the previously mentioned Farmers National Bank of Grapevine closed it was absorbed by the Tarrant County National Bank on December 28, 1927. This bank issued only Series 1929 small-size national bank notes. These were $5, $10, and $20 Type I and Type II notes. The total amount of circulation issued was $123,730. When the national bank notes program was closed in July 1935, the total amount outstanding for the bank was $38,650. 6-7--6•44441, a CAPITAL MARKETS (Continued from page 98) could support their own very interesting and most informa- tive exhibitions. By making this great history known, the Museum will help revive national understanding of our country's origins and corresponding pride in our noble finan- cial heritage. Anyone touched by our American capital markets, its many companies, their stockholders, as well as those Wall Streeters who arrange financing and trading for them, should see and enjoy this ambitious exhibit. For most it will be a first step in gaining substantive insight into the most important reason why our country's capital markets have been so successful: our country's Constitutional form of government and its subse- quent implementation was designed to maintain our freedoms while equitably solving the war debt problem and enhancing the value of the mostly defaulted-on securities then trading in its capital markets. Its no wonder, then, that the United States has become the most prosperous nation on earth. Our forefa- thers classically built the most efficient capital market value building machine in the entire history of nations. Go and see the exhibit and see for yourself how it was done! (Ned W. Downing, ) Paper Money Whole No. 195Page 100 Starts Here A Primer for Collectors by GENE HESSLER D URING the past few months this space has been de- voted to paper money issued during periods of infla- tion and hyperinflation. This month we will consider the bank notes issued in Slovenia and Slovakia. Slovenia, once part of the former Yugoslavia, has remained removed from the conflicts of its neighbors Bosnia (Si Herzegovina, Croatia and what remains of Serbian-controlled Yugoslavia due to its geographic location and economic independence. The infla- tion in Slovenia is nothing like its neighbors in the former Yugoslavia. Currently, inflation in Slovakia is also at a relative minimum. The first modern notes from Slovenia were issued between 1990 and 1992; they are not very attractive. These notes were obviously issued as a temporary emission to accompany their independence. The notes are offset printed; each denomina- tion has the same back design. I did not add these notes to my personal collection. However, at about lOct each when pur- chased in packs of 100, the one tolar note is an inexpensive note to give to young prospective collectors. The second issue dated 15 January 1992 (10-1000 tolarjev) and 1 June 1993 (5000 tolarjev) is magnificent. Each note honors a native male who made his mark in the field of art or science; these portraits each has an accompanying shadow profile and watermark. Within each silhouette there are re- petitive denominations of 10, 20, etc., so small that they can be seen only when magnified more than five times. These minute numerals are another example of a device that a pho- tocopier could not reproduce. Each portrait is engraved, as are other portions of these beautiful notes. None of the names and portraits were familiar to me except one: the 16th century musician Jacobus Gallus on the 200 tolarjev note. Each bank note has a symbol, i.e., quill pen, paint brush, compass, music notation, planets, etc. which lets us know what contribution each person made. The lowest denomination, the 10 tolarjev, can be purchased for about 254; the highest, the 5000, will cost about $65. So, you can purchase only those notes you can afford or that you favor the most. However, I am certain you will want the 50 tolarjev note with the portrait of astronomer J. Vega on the face and the planets superimposed on a vivid cobalt blue on the back. The latter note will cost less than $2; its the star of the series. This set of notes, one of the most beautiful to be issued in recent times, was printed at the Malta plant of the English firm, Thomas De La Rue. In the upper left-hand corner of each note there is a geometric figure in braille. More countries are includ- ing braille markings for the blind on their bank notes. The United States remains in the minority of nations who does not consider citizens and visitors who are sight-impaired. Although braille could be added to the new American notes now in prepa- ration, it is my understanding this feature will not be included. In the lower center of each note is an anticounterfeiting de- vice that is becoming common on notes from all over the world. These small circles, with an interior design, are per- fectly aligned with a circle on the back. When held to the light the design become complete, because a portion of the same design is on the back. On January 1, 1993 the Slovak portion of Czechoslovakia became an independent country. (During World War II Slovakia functioned as an independent country under German occupation.) The first issue from the new Slovakia was also printed by Thomas De La Rue in London. However, the por- traits on the 100 and 500 korun notes were engraved by Vaclav Fajt, one of Europe's most talented engravers, who is employed at the State Printing Office in Prague in the Czech Republic. Mr. Fajt has also engraved portions of the new notes from the Czech Republic. One interesting feature about this set of notes is that each note includes Christian religious symbolism. In the United States and most countries, state and religion remains separate. Slovakia chose to call attention to the religious fervor that is prevalent in this East European country. Each of the five bank notes issued in Slovakia includes a portrait with what suggests a ray of light across the eyes of each person as it comes from a different angle for each through a sunlit window. The 20 korun note bears a profile of Prince Pribina, the first Slovak ruler who established the first Chris- tian Church in the region in the 9th century. The 50 korun note includes two portraits: Saints Cyril and Methodius. Although he did not create it, the Cyrillic alphabet was named after St. Cyril. The back of this note shows two cupped-hands offering the first seven letters of the old Slavonic alphabet—a gift of the two saints. A beautiful portrait of the Madonna from the Altar of Birth in St. Jacob's Church in Levoca graces the 100 korun note. Part of the church is seen on the back. A portrait of 19th century literary writer and organizer, Ludovit StUr dominates the face of the 500 korun note. The back shows Bratislava Castle and the Baroque Church of St. Nicolas and part of the Gothic tower of Klarisky Church. A 5000 korun note is anticipated in 1995, but for now the 1000 is the largest denomination. This violet-colored note has the portrait of Slovak national hero Monseigneur Andrej Hlinka (1864-1938). On the back is the Madonna as seen in the Church in SilaCe near Ruiomberok, and the image of Hlinka's mausoleum. Each of these notes includes sophisticated anti-counterfeit- ing devices, e.g. latent images, micro printing and security line (Continued on page 101) Hudson River Bank $5 post note dated July 1, 1844 printed by Blake and Company, evidently a product of a second, previously unnoticed bank with this name. Paper Money Whole No. 195 Page 101 WERE THERE TWO HUDSON RIVER BANKS IN NEW YORK CITY? by STEPHEN M. GOLDBERG and is accidentally miscatalogued by Haxby as a spurious is- sue from a legitimate bank with the same name located in Hudson, New York, but it's clearly a New York City item. liaxby happens to list a Hudson River Bank for New York and states that it was reputed to be a fraudulent bank operating around 1838 to 1840. However, his illustrations are of proofs pre- pared by a different printer, Danforth, Underwood, et al, with no regular prints known to have been made, and one of the hallmarks of a note issued with intent to defraud is that it be issued, obviously, for circulation. Furthermore, typical fraudu- lent bank notes of the period are unregistered illegal post notes or interest-bearing notes, but judging from the Haxby illustrations, issued notes corre- sponding to the proofs would have been prop- erly registered demand notes. It seems reason- able to believe that the proofs were prepared for a legitimate bank that never opened, and that the reputed fraudulent bank was a slightly later operation, conducted by persons of larcenous in- tent distinct from those individuals that pro- posed the first bank, and represented by the post note shown here. If so, then the second bank would merit a separate listing in Haxby. For the record, Wisner mentions a Hudson River Bank as an early name for the North River Bank- ing Company, but North is the earlier name for the Hudson River, not the other way around. Whether there were two dif- ferent entities of the same name, one honest and one not, there was no properly incorporated Hudson River Bank known to have issued circulating notes in New York City. A while back, I bought a post note from the Hudson River Bank, a $5 bill dated July 1, 1844, printed by Blake and Company, New York. It is occasionally available BUCK (Continued from page 100) structure, which, if photocopied, will produce a bizarre pat- tern, different from the pattern on the note. Consider adding these notes to your collection. (Copyright story reprinted by permission from Coin World, lune 26, 1995.) New Literature MR1 Bankers' Guide to Foreign Currency. A. Effron. 256 PP., softcover, illustrated, $40, MRI Research Institute, P.O. Box 3174, Houston, TX 77253. In 8'/4X11'/4 format, the current and redeemable bank notes of each country are shown in color. In addition to exchange rates, Pick catalog numbers, anti-counterfeit features and data on demonetized notes are included. The import-export restric- tion of the currency for each country is mentioned. A ten-page section, devoted to travelers checks of 20 countries or mon- etary unions, is at the end of this 25th edition. (Jerry Remick) specialized in Poland, Russia 6 E.Europe visit us: Buy & Sell Free Price List Tom Sluszkiewiez 1P.O.Box 54521, Middlegate PostalBURNABY, B.C., CANADA, V5E 4J6 Page 102 Paper Money Whole No. 195 The President's Column I knew I'd be writing about this topic soon, so let's get to it. Please be advised that these are MY thoughts. It appears that "currency slab- bing" may happen. I'm not pleased about that at all. One of the main reasons I quit collecting coins about 20 years ago was the attempt to make coins "commodities"—the employment of a numerical grading scale, whereby strike, toning, bag marks and "eye appeal" can affect the grade of a coin; this was followed quickly by the appearance of coins "professionally graded" by people and compa- nies I'd never heard of. Now, I knew how to grade certain series of U.S. coins—Liberty Nick- els, Buffalo Nickels and Liberty Standing Quarters. With respect to grading, the latter two series are (in my opinion) quite tough. But I spent many years developing MY OWN GRADING STANDARDS for these coins; when I would examine coins offered to me, MY STAND- ARDS were the only ones that mattered—not some so-called "profes- sional grading service," nor anyone else! If the coin was in a condition acceptable to me, and the price was fair, I BOUGHT IT! It was just that simple. I didn't CARE about the opinions of anyone else; the coin was going into MY personal collec- tion, and I decided if it was good enough. BUT I'VE NEVER—EVER- PLI RCHASED A "SLABBED COIN!" AND I NEVER—EVER—WILL! In my personal opinion, anyone talking about offering "standard" graded notes in "sealed holders" is attempting to force THEIR grading "standards" (whatever THOSE are) on us! Any serious collector of paper money already knows one thing for sure: There are NO "strict standards" for grading paper money! In this hobby we rely on "guidelines" as our starting point. Its pretty easy to nail down a note to within a grade or two after you've been around the bourse floor at a few paper money shows. Within these "guidelines," however, EVERYONE: full-time dealer, part-time dealer, long-time collector, beginner—has his or her own "standards" for applying a grade to a note. Most of the full-time deal- ers are pretty fair country graders; they've handled thousands of notes, and they KNOW THEIR BUSINESS! But if you were to take a note to a paper money show and ask the dealers for their opinions, you'd get some different answers! I expect you'd also get a range of different grades if you were to ask only collectors for their opinions. Why? It's quite simple, really. Paper money doesn't "wear" like a coin does. A coin is produced from metal, and the design of each one creates a specific pattern of wear as the coin circulates from hand to hand. Over a period of many years, professional coin handlers have cataloged the wear patterns for every series of coins struck by the United States mints. Its a pretty finite process, almost approaching a science; hence the book by Brown & Dunn and Photograde by James Ruddy. Because of the medium used, paper money can't fit into the num- bering scheme applied to coins. No two pieces of paper currency (even if we were to assume that both of them were exactly the same, which isn't often true) will ever wear exactly the same way. Why? Because, unlike coins, paper money can be folded, and re-folded, get moist, wet, or even have ink spilled on it. As was the case a few years ago, paper money can also suffer from the use of poor quality ink! Lyn Knight has been a dealer of paper money for over 20 years. I quote a phrase that appears in each of his firm's auction catalogs: "A word about grades. Grading is subjective and a matter of my personal opinion only.... the grades listed here are mine. They are listed only to give the customer a better idea of what a note will look like." Every dealer that I know would agree with that statement as it applies to the purchase or sale of ANY note! What do you do? Develop YOUR OWN set of "guidelines!" Figure out what kinds of notes you'll be satisfied to buy today, and satisfied with 10 or 20 years from now! Then look for notes that fall into that category; establish your own standards, and be willing to modify them if you need to. The bottom line is still very simple: Make your OWN decision, at the point of sale, whether you LIKE the note or not; if you're comfortable with it—BUY IT! If you're not truly convinced that you really like the note—DON'T BUY IT! Want some more advice? Talk to a member of the Professional Cur- rency Dealers Association (PCDA). Better yet, talk to PCDA members! Find out how they grade the notes that interest you. Pretty soon you'll link up with a PCDA dealer who would like nothing better than to make you a customer and friend for many, many years. I recently received a telephone call from my friend Hugh Shull, vice president of the PCDA. He told me that the PCDA has voted as an organization NOT to support "slabbing" and third-party grading of currency. I VERY MUCH applaud that group's decision, and agree with it wholeheartedly! This is still a HOBBY! Let's keep it that way! PUBLICATION FUND CONTRIBUTORS Eleanor Oberst 5 Michael E. Weihl 5 Larry Jenkins 10 Jay T. Benton 6 Jack H. Fisher 30 lames Carlson 20 John F. Golden 10 Bob Steele 6 Matthew P. Whitehead 10 Richard H. Anderson 6 Forrest W. Daniel 20 Ken McDannel 16 David M. Eaton 50 Clayton La Fountain 24 Glenn H. Fishe 6 Phil Iversen 1 Stanley 1-lenneman 10 Greg R. Super 6 Philip G. Feder 1 Robert Bauman 10 Stephen R. Taylor 10 Thomas Sturges 25 Frank C. Dwornik 10 Ken Purcell 5 John P. Vertrees, Jr. 6 Ron Shiban 6 Ron Yeager 25 George Shubert 1 Terry Trantow 10 Yutaka Kondo, M.D 3 Robert McCabe 10 Donald Gilletti 16 Randy Vogel 26 Stephen D. Fisher 1 George Carman 6 John M. Lahey 1 William Lemmon 6 John Glynn 3 Ronald Hamm 12 J.A. McCandless 16 Dustinn Gibson 6 James Vosburgh 6 Donald Skinner 6 Paul Andrews 20 G.B. Eddy 26 Albert Von Der Werth 25 Roland Rivet 11 Barry A. Smith 6 David Bialer 6 William J. Skelton 10 Jim Davis 6 John H. Miller 6 Ronald Gustafson 26 Richard Murcott 1 Dennis Lesko 6 David Schneider 24 Andrew Konecnik 5 Vince Mohr 6 Donald DeKalb 6 Mark Reilly 1 Dick Rader 25 Hal Blount 6 Christina Demary 6 Kenneth Fabian 20 Philip R. Varnum 25 Franklin Freeman 6 Charles Lindquist 16 Matt Youngerman 6 Denis Novakovic 1 Howard Cohen 24 Robert P. Payne 5 Total 795 Charles A. Loehr 6 SPMC Member Receives Book Awards Civil War Encased Stamps by Fred L. Reed, Ill, pub. BNR Press, reviewed in PAPER MONEY, No. 180, has received seven awards since publica- tion in 1995 from the following organizations: International Phila- telic Congress; Chicago Philatelic Society; SPMC; Texas Numismatic Association; Numismatic Literary Guild; Civil War Collectors' Soci- ety; and Publishing & Production Executive and Printing Impressions. Paper Money Whole No. 195 Page 103 SPMC BOARD OF GOVERNORS To fill three positions, three sitting board members expressed their desire to continue serving the SPMC. Since no other mem- bers came forward, these three board members were reelected by acclamation. They are: Raphael Ellenbogen, Steven K. Whitfield and Wendell W. Wolka. SPMC BREAKFAST TICKETS A maximum of 100 tickets will be sold for the SPMC breakfast at the Memphis paper money show June 19- 21. Send your check for $8 to Judith Murphy, Box 24056, Winston-Salem, NC 27114. No tickets will be sold at the door. NEW MEMBERSHIP COORDINATOR Frank Clark NEW Carrollton ,nBox 1 71 57061 01 MEMBERS 9429 Roger Cole, 5003 Wellington Ave., Parma, OLI 44134; C&D, U.S. and world. 9430 Tim V. Swanson, 8630 Kings Mill Place, Ft. Wayne, IN 46804; C, fract., lg. size & obsoletes. 9431 Mark Kiczyinski, 78 Alps Rd., Branford, CT 06405; C. 9432 John R. Reusing, 4555 Montgomery Rd., Cincinnati, OH 45212; C, lg. size. 9433 Daniel Benice, P.O. Box 5708, Cary, NC 27512; C, depression scrip, ad. notes, misc. scrip, transp. tickets. 9434 Russell Pike, P.O. Box 93, Savage, MD 20763-0093; C. 9435 Douglass Campbell, 520 Madison Ave., 40th Floor, New York, NY 10022-4213; C. 9436 John William Ciafrani, 2408 Houma Blvd., Apt. #119, Metairie, LA 70001; C. 9437 Sharon Christy, 310 Morris Dr., Cherry Hill, NJ 08003; C. 9438 Fred Becker, 119 Columbia Pl., Slidell, LA 70458-9128; C. 9439 Manuel M. Lieras, 4325 S. Layman Ave., Pico Rivera, CA 90660- 1718; C, U.S. notes, obsoletes & C.S.A. 9440 Steve E. Smith, 820 Caloosa Tr., Casselberry, FL 32707-2603; C. 9441 Jeffrey W. Bowden, D.D.S., 181 Sea Island Dr., Ponte Vedra Beach, FL 32082; C. 9442 William T. Thomson, 20533 Woodside, Harper Woods, MI 48225; C, MI obsoletes. 9443 Mark Benvenuto, 1202 Marywood, Royal Oak, MI 48067-1228; C, local scrip, MPC, inflation notes. 9444 Wolfgang Beck, Kornmarkt 7, D-99734 Nordhausen, Germany; C, U.S. & MPC. 9445 David Tucker, 1029 McElroy Way, Bowling Green, KY 42104- 3150; C, world, NBN, U.S., unusual currency related items. 9446 Herbert H. Camber, W. 166 Orchard Way, Richland, WA 99352; C. 9447 J. Michael Jones, 211 Windsweep Rd., Thomaston, GA 30286; D, GA NBN & frac. 9448 FrankW. Hammelbacher, P.O. Box 660077, Flushing, NY 11366- 0077, D, stocks and bonds, currency. 9449 Terry Kafka, 885 Spring Rd., Mosiree, WI 54455; C. 9450 Paul D. Jacobsen, 203 S. Montana St., Boone, IA 50036-3851; C. 9451 David D. Berridge, 10 Candlewood Way, Shrewsbury, MA 01545; C, lg. size MPC, frac. 9452 Robert E. Beck, 1813 Fairway Dr., La Grange, KY 40031; C, ob- soletes, lg. size & errors. 9453 Scott Brockman, 1600 Misty Pines Circle P-302, Naples, FL 34105; C. 9454 Morey M. Friedman, 9644 Blue Bell Dr., Las Vegas, NV 89134- 7831; C, U.S., Canada, England, Scotland, Australia, Palestine & Israel. 9455 Edward J. Ross, P.O. Box 65, Granite Springs, NY 10527; C, sm. size notes. 9456 Michael A. Hurley Esquire, 1540 Indianwood Dr., Brookfield, WI 53005; C&D, frac. 9457 Ray Russ, c/o General Business Machines, 2482 Almaden Expwy., San Jose, CA 95125-2901; C. 9458 Robert C. Wagner, 16605 Lawson Valley Rd., Jamul, CA 91935- 2417; C, Pre 1776 Colonial Notes, VT obsoletes. 9459 Kishore Jhunjhunwalla, 519 Arun Chambers, 80 Taredo Rd., Bombay 400034, India; C&D, India. 9460 Paul Rentenbach, 1125 Three Mile Dr., Grosse Point Park, MI 48230; C. 9461 Charles Shear, 14 Bittersweet Dr., Gales Ferry, CT 06335; C, frac., lg. size U.S. 9462 John R. Schlichting, P.O. Box 14141, Oklahoma City, OK 73113; C& D. 9463 Gregg Anderson, P.O. Box 3291, Redondo Beach, CA 90277- 1291; C, Error FRN Notes, Fancy Serial Numbers, High De- nominations. 9464 William E. Homing, 3123 Polk Way, Stockton, CA 95219- 3931; C. 9465 G.W. Franks, 54 Cree Ave., Toronto, ON M I M 1Z6, Canada; C, Canadian Paper. 9466 Jerry Wauchope, 28719 13th Ave. South, Federal Way, WA 98003; C, large size U.S. 9467 1-lerby Lam, 2367 37th Ave., San Francisco, CA 94116; C, Chi- nese, U.S. small size. 9468 John J. Musarra, 344 Hicksville Rd., Massapequa, NY 11758- 5842; C, Type and Long Island Nationals. 9469 lay Walker, 124 Spectacle Ln., Ridgefield, CT 06877; C. 9470 Kevin Pering, 15 Hardy Ave., Weymouth, Dorset, DT4ORQ, England; C&D, Russia, USSR, Baltic States. 9471 Gayle K. Pike, P.O. Box 11705, Memphis, TN 38111; C&D, Nationals, Confederates, large size type. 6664 Robert L. Ballard, 516 E. Elm St., Cabot, AR 72023; C. LM245 Dr. James P. Potter, 7178 Sentinel Rd., Rockford, IL 61107; C, converted from 8073. LM246 Eric A. Danielson, 2327 N. 82nd St., Milwaukee, WI 53213; C, U.S. large & small type, errors, converted from 8981. LM247 Alain Michael, P.O. Box 63, Beverly Hills, CA 90213-0063. LM248 Leonard M. West, 1211 Arden Dr., Salisbury, NC 28144. LM249 Steven K. Whitfield, 14092 West 115th St., Olathe, KS 66062. LM250 Douglas D. Murray, P.O. Box 2, Portage, MI 49081. LM251 John Martin Davis, Jr., 2705 Swiss Ave., Dallas, TX 75204. LM252 Vance Poteat, 9 Fine View Rd., Windham, NH 03087. LM253 David M. Eaton, P.O. Box 448, Norwich, NY 13815. LM254 William Kelly, 220 Asharoken Ave., Northport, NY 11768. LM255 Alan Bleviss, 19 Arden Rd., Denvill, NJ 07834. LM256 Richard Perricelli, 1449 Overing St., Apt. 14-D, Bronx, NY 10461. LM257 George K. Warner, 2167 N. Main, Sheridan, WY 82801. LM258 Kevin Lonergan, P.O. Box 4234, Hamden, CT 06514. LM259 Dick Rader, 1861 Kingston Way, Lawrenceville, GA 30044- 5326. LM260 Albert L. Smith, RD 2, Box 886, New Columbia, PA 17856. LM261 Claud Murphy, P.O. Box 24056, Winston-Salem, NC 27114. LM262 Judith Murphy, P.O. Box 24056, Winston-Salem, NC 27114. LM263 Stephen Malast, 158 Bay Terrace, Staten Island, NY 10306- 3604. LM264 Philip R. Varnum, 716 Sand Lake Rd., Onalaska, WI 54650. LM265 Roger Moulton, 2800 Bartons Bluff Ln. Apt. #1801, Austin, TX 78746-7937. Page 104 Paper Money Whole No. 195 LM266 Ken Phillips, 3763 Greene's Crossing, Greensboro, NC 27410. LM267 Marc Napolitan, 1318 Forest St, St. Paul, MN 55106-2031. LM268 Celeste De Zan, Jr., 7963 Oleander Ave., Fontana, CA 92336. LM269 Wendell Wolka, P.O. Box 569, Dublin, OH 43017. LM270 Gaylen D. Rust, 252 E. 300 South, Salt Lake City, LIT 84111. LM271 Joseph Gillo, 2657 Martin Ave., Bellmore, NY 11710-3122. LM272 Martin Garringer, P.O. Box 6065, Ft. Wayne, IN 46896. LM273 F. Carl Braun, c/o Lynx Air, P.O. Box 407139, Ft. Lauderdale, FL 33340. LM274 Spencer Peck, P.O. Box 526, Oldwick, NJ 08858. LM275 Michael E. Weihl, 652 Sedan Park Ct., St. Louis, MO 63125- 5100. LM276 Robert A. Mason, 1506 Fincke Ave., Utica, NY 13503. LM277 Dale B. Smith, 906 N. Shannon, Sloan, IA 51055. LM278 Lee Lofthus, 4125 Sandcastle Ln., Olney, MD 20832. LM279 Ken Sultana, P.O. Box 580422, Flushing, NY 11358-0422. LM280 Richard Dreger, Route 1, Box 11, Creston, WA 99117. LM281 Victor L. Fickling, 2254 Jennifer Ln., North St. Paul, MN 55109- 2850. LM282 William Litt, P.O. Box 662092, Los Angeles, CA 90066. LM283 Lawrence R. Casey, 13 Chester Rd., Darien, CT 06820. LM284 Alexander Delatola, 243 W. 98th St., #5A, New York, NY 10025. LM285 lames T. Mitchell, c/o Realty Mortgage Corp., 215 Katherine • Dr., Jackson, MS 39208. LM286 Zack Stojanovic, 1812-111 Pacific Ave., Toronto, Ontario M6P 2P2, Canada. LM287 Tom Sheehan, P.O. Box 33576, Seattle, WA 98133-0576. LM288 Joseph Ridder, 37 Oriole St., Pearl River, NY 10965-2713. LM289 Leonard Lashaway, 840 Quebec Ave., Longmont, CO 80501. LM290 James A. Simek, P.O. Box 7157, Westchester, IL 60154-7157. LM291 William L. McNease, 7217 Riviera Dr., Fort Worth, TX 76180. LM292 Stephen L. Tanenbaum, Box 290116, Homecrest Station, Brooklyn, NY 11229-0116. ■ OBSOLETE NOTES ■• ■N ■ ■ ■Also C5A, Continental & Colonial, Stocks & ■ • Bonds, Autographs & Civil War Related ■ ■ • ■ Material. ■ ■ LARGE CAT. $2.00 Ref.■ ■ ■ ■ Always Buying at Top Prices ■ • ■ ■ RICHARD T. HOOBER, JR.■ • ■ ■ ■ ■ • P.O. Box 3116, ey Largo, FL 33037 •• FM or Phone (305) 855-0105 ■ Buying & Selling Foreign Banknotes Send for Free List William H. Pheatt 6443 Kenneth Ave. Orangevale, CA 95662 U.S.A. Phone 916-722-6246 Fax 916-722-8689 WANTED: PUBLISHED BANK/BANKING HISTORIES Fair prices paid for original copies. Any help with these OR ANY OTHERS will be greatly appreciated. OHIO • A Retrospect of Fifty Years, 1866-1916: the Huntington National Bank, Colum- bus, Ohio. Published (probably) by the bank in 1916. • 100 Years of Growth and Development with a City We're Proud to Serve. Marion County Bank, Marion, Ohio. Don't know when it was published. • 123 Years of Continuous Service to Dayton's Banking Needs, 1814 to 1937. Win- ters National Bank 8 Trust Company of Dayton. 1937. • Fostoria Highlights of the past 120 years. The First National Bank of Fostoria, Ohio. 1954. • Huntington, a Family and a Bank: a History of the Huntington National Bank. Huntington Bancshares Incorporated, Columbus. Circa 1985. • ALL BANKERS DIRECTORIES, SUCH AS RAND McNALLY'S OR POLK'S, PUBLISHED BETWEEN 1863 AND 1935. Bob Cochran, P.O. Box 1085, Florissant, MO 63031 mong LIP mart Paper Money will accept classified advertising from members only on a basis of 150 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 pay- able to the Society of Paper Money Collectors, and reach the Editor, Gene Hessler, P.O. Box 31144, Cincinnati, 011 4 523 1 by the first of the month preceding the month of issue (i.e. Dec. 1 for Jan./Feb. issue). Word count: Name and address will count as five words. All other words and abbreviations, figure combina- tions 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) OLD STOCK CERTIFICATES! Catalog plus 3 beautiful certificates $6. Also buy! Ken Prag, Box 14817-PM, San Francisco, CA 94114. (415) 586-9386. (198) MASSACHUSETTS LARGE- AND SMALL-SIZE NATIONAL BANK NOTES WANTED from Buzzards Bay, Edgartown, Falmouth, Harwich, Hyannis, Nantucket, Tisbury, Provincetown and Yarmouth. Frank Bennett, P.O. Box 8722, Port St. Lucie, FL 34985. (197) WW II MILITARY CURRENCY MY SPECIALTY! Periodic price lists for 55ct SASE; MPC, Philippine Guerilla, Japanese invasion, world coins-paper-stamps, U.S. coins-paper-stamps, Confederate, obsoletes, FRN, stocks-bonds. 702-753-2435. Edward B. Hoffman, P.O. Box 6039- 5, Elko, NV 89802-6039. (199) MARYLAND WANTED. Obsoletes and National Bank Notes from "The Howard Bank," "Howard Park Steam Cotton Factory," "Howard Street Savings Bank," and "National Howard Bank of Baltimore (Charter 4218)." I will pay a substantial premium above current pricing. Howard L. Cohen, 3170 N.E. Loop Drive, Otis, OR 97368. Tel: (541) 994- 8988; Fax: (541) 994-7189, or e-mail to " ." (195) STOCKS & BONDS wanted! All types purchased including railroad, mining, oil, zoos, aviation. Frank Hammelbacher, Box 660077, Flushing, NY 11366. (718) 380-4009 (fax 718-380-4009) (norrico@ (205) WANTED: US MACERATED (shredded) currency items made from 1874-1930. Also any information, ads, articles, etc. relating to macer- ated currency. Top Prices paid. Bertram Cohen, 169 Marlborough St., Boston, MA 02116. Phone: 617-247-4754, Fax: 617-247-9093. Email: , . 1+11ii It I .1.14 .1.1...11 1 - J/;;;-,,/ her /il N929443 Trailtrlje tiitititsti, awilatotimal) _Maw fr -DI mr.) iviy/ /1. iht ;fi 1 .7il rabtra N929/143 4GPOSIMC06104 VMS; /,1;ye ,4 awe 4.1/.7/y4o: D 099 UMAIIINStiftt$101n, GOLDAGERBIFICATE SUPERB UNITED STATES CURRENCY FOR SALE SEND FOR FREE PRICE LIST BOOKS FOR SALE PAPER MONEY OF THE U.S. by Friedberg. 14th Edition. Hard Bound. $18.50 plus $2.50 postage. Total price $21.00. COMPREHENSIVE CATALOG OF U.S. PAPER MONEY by Gene Hessler. 6th Edition. Hard cover. 579 pages. The new Edition. $32.00 plus $3.00 postage. Total price $35.00. THE ENGRAVERS LINE by Gene Hessler. Hard cover. A complete history of the artists and engravers who designed U.S. Paper Money. $75.50 plus $3.50 postage. Total price $79.00. NATIONAL BANK NOTES by Don Kelly. The new 3rd Edition. Hard cover. Over 600 pages. The new expanded edition. Gives amounts issued and what is still outstanding. Retail price is $100.00. Special price is $65.00 plus $4.00 postage. Total price $69.00. U.S. ESSAY, PROOF AND SPECIMEN NOTES by Gene Hessler. Hard cover. Unissued designs and pictures of original drawings. $14.00 plus $2.00 postage. Total price $16.00. Stanley Morycz P.O. BOX 355, DEPT. M • ENGLEWOOD, OH 45322 937-898-0114 Pay over "bid" for many Pay over "ask" for some Pay over Hickman-Oakes for many nationals Pay cash - no deal too large. All grades wanted, Good to Unc. at 78, I can't afford to wait. Currency dealer over 50 years. A.N.A. Life #103 (58 years) A N.A. 50-Year Gold Medal Recipient, 1988 P.N.G. President 1963-1964 A.M. KAGIN 910 Insurance Exchange Bldg. Des Moines, IA 50309 (515) 243-7363 Buy: Uncut Sheets - F,rrors — Star Notes — Checks Confederate — Obsolete — Hawaiiana — Alaskiana Farb, Western — Stocks — Bonds, Ftc. Page 106 Paper Money Whole No. 195 or • 4" R. EARLY AMERICAN NUMISMATICS *619-273-3566 We maintain the LARGEST COLONIAL & CONTINENTAL CURRENCY ACTIVE INVENTORY IN THE WORLD! SEND US YOUR WANT LISTS. FREE PRICE LISTS AVAILABLE. SPECIALIZING IN: SERVICES: q Colonial Coins q Portfolio q q Colonial Currency Rare & Choice Type q Development Major Show EARLY AMERICAN NUMISMATICS Coins Coverage c/o Dana Linen q Pre-1800 Fiscal Paper q Auction q Encased Postage Stamps Attendance q P.O. Box 2442 q LaJolla, CA 92038 q 619-273-3566 Members: Life ANA, CSNA-EAC, SPMC, FUN, ANACS Your Hometown Currency Headquarters Top prices paid for National Currency Collections. Large-Size Type Notes. All Florida Currency and Scrip Largest Inventory of National Currency & Large Size Type Notes! Interested? Call 1-800-327-5010 for a Free Catalog or write -s— --- MVAP2 Irtr.41: William Youngerman, Inc. Rare Coins & Currency "Since 196 7 - P.O. Box 177, Boca Raton. FL 33429-0177 Paper Money Whole No. 195 Page 107 5th ANNUAL CHICAGO PAPER MONEY EXPO You're invited to ••• 43;° riof volar.'iNf !-Q! Friday, Saturday, Sunday February 19-20-21,1999 Ramada O'Hare Hotel 6600 North Mannheim Road Rosemont, Illinois * 100 Booth Bourse Area Major Paper Money Auction Society Meetings Show Hours: Thursday, February 18 (Professional Preview—$25) Friday, February 19 Saturday, February 20 Sunday, February 21 2 p.m.-6 p.m. 10 a.m.-6 p.m. 10 a.m.-6 p.m. 10 a.m.-2 p.m. Hotel Reservations: Please call the Ramada Hotel O'Hare directly at (847) 827-5131 and ask for the special Chicago Paper Money Expo rate of $85 SID. * Educational Programs Complimentary Airport Shuttle o Complimentary Hotel Guest Parking The Chicago Paper Money Expo is sponsored by Krause Publications, the World's Largest Publisher of Hobby Related Publications, including Bank Note Reporter & Standard Catalog of United States Paper Money. Bourse Information: Kevin Foley P.O. Box 573 • Milwaukee, WI 53201 (414) 481-7287 • FAX (414) 481-7297 %WC Ot/IL URGENT 45'414gr- fl>8M.4..CiAttRINAX.:4f"-7-7 -,tidy 1.1"171.A10 in monop By #1,41? ./k Attlettra„..„N ityiat11,:rbin . tit . „ Paying Top Dollar for All Indiana Nationals! Common at Rare!! Need All Denominations and Types from Indiana 1311).4=0, BUYING COINS, CURRENCY, U.S. at FOREIGN Ask for `J.L. Laws with any currency you may have for sale! The SCOISMOD 1 1 _286020 _06 14 2v_e 4 B3 01 v5d . ,FSatx. .L173 4, _M6 902 _ 60 34 1 40 1 Page 108 Paper Money Whole No. 195 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 AlititmtagAlkowytlioaft i7"431 MOW/ 10:%1 /1 N1, 1 ,, 1 1.10 '4i14 -gAttf - 1150=, 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 5233P WALNUT CREEK, CA 94596-5233 LIFE MEMBER A.N.A. #1995 C.N.A. #143 C.P.M.S. #11 Paper Money Whole No. 195 Page 109 ita Third Edition by Don. C. Kelly The third edition of this standard reference on America's Home Town Paper Money has been updated and expanded. With over 600 pages and 200 illustrations, there are many new features, including chapters on uncut sheets, error notes, and counterfeits. Realistic evaluations and detailed population reports based on a census of nearly 200,000 nationals tell you how many notes have survived and what they're worth. Maps of each state show the locations of all towns which had note-issuing national banks. List Price: $100. SPMC members should be able to buy at a discount from many of the distributors listed below. See Gene Hessler's review on p 91 of the May/June 1997 issue of Paper Money. Allen's 399 South State St Westerville, 01-1 43081 (800)848-3966 Brooklyn Gallery P 0 Box 090-146 Brooklyn. NY 11209 (718)745-5701 Classic Coins P 0 Box 95 Allen, MI 49227 (517)869-2541 Commercial Coin 1611 Market St Camp Ilill, PA 17011 (717)737-8981 Denly's of Boston 75 Federal St Rill 620 Boston. MA 02205 (800)443-3659 Emporium Coin P 0 Box 606 Moorhead. MN 56560 (800)248-9751 R A Glascock 120 Remount St San Antonio, TX 78218 (210)655-2498 Hartville Coin Each 1015 Edison St Hartville, 01-1 44632 (330)699-3952 Fountain Square Stamp & Coin 27 Fountain Square Plaza Cincinnati, OH 45202 (513)621-6696 Hamp's Supply 9440 old Katy Rd Suite 121 llouston, TX 77055 (800)258-8906 Harlan Berk, Inc 31 North Clark St Chicago, IL 60602 (312)609-0016 David Hollander 406 Viduta Place Huntsville, AL 35801 Lake Region Coin & Currency P 0 Box 48 Devils Lake, ND 58301 (701)662-5770 Las Vegas Rare Coin Galleries 3661 So Maryland Pkwy 9N Las Vegas, NV 89109 (702)732-8192 Louisville Numismatic Exch 527 South 3rd St Louisville, KY 40202 0021584-9879 Lyn F Knight P 0 Box 7364 Overland Park, KS 66207 (913)262-7860 Metro Wholesale Supply 7880 A Washington Blvd Elk Ridge. MD 21227 (410)799-1111 NICS 122 South Grove Elgin, IL 60120 (847)695-0110 (847)695-0127 Numismatic & Philatelic Arts PO Box 9712 Santa Fe. NM 87504 (505)982-8792 William Panitich 855 Central Ave #103 Albany, NY 12206 (518)489-4400 Paper Money Institute P 0 Box 85 Oxford, OH 45056 (513)523-6861 Pollard's Coin & Stamp 5220 E 23rd St Indianapolis, IN 46218 (317)547-1306 Rare Coin Inv 22033 Kelly Rd Eastpointe, MI 48021 (810)773-9540 Stanley Morycz P 0 Box 355 Englewood, OH 45322 (937)898-0114 SilverTowne P 0 Box 424 Winchester, IN 47394 (800)788-7481 Stone Mountain Supply 6820 Mcadowridgc Ct Suite AS Alpharetta, GA 30202 (770)886-34 I 8 Toledo Coin Each 5590 Monroe St Sylvania, OH 43560 (419)885-3444 William Youngerman P 0 Box 177 Boca Raton, FL 33429 (800)327-5010 nzattat 0000179ATHE FIRST NATIONAL BANN Of LE SUEUlt. MINNESOTA FIVE IMILJAIIS 00001791 111MICISFPLIILL .9WENCyt, I COLLECT MINNESOTA OBSOLETE CURRENCY and NATIONAL BANK NOTES Please offer what you have for sale. Charles C. Parrish P.O. Box 481 Rosemount, Minnesota 55068 (612) 423-1039 SPMC LM114 - PCDA - LM ANA Since 1976 MYLAR D CURRENCY HOLDERS PRICED AS FOLLOWS BANKNOTE AND CHECK HOLDERS SIZE INCHES 50 100 500 1000 Fractional 43/4 x 23/4 $17.75 $32.50 $147.00 $255.00 Colonial 5 1/2 x 3 1 /16 18.75 35.00 159.00 295.00 Small Currency 65/8 0 2 7/8 19.00 36.50 163.00 305.00 Large Currency 7718 x 31/2 23.00 42.50 195.00 365.00 Auction 9 a 33/4 26.75 50.00 243.00 439.00 Foreign Currency 8x5 30.00 56.00 256.00 460.00 Checks 95/8 a 4 1/4 28.25 52.50 240.00 444.00 SHEET HOLDERS SIZE INCHES 10 50 100 250 Obsolete Sheet End Open 83/4 a 141/2 $13.00 $60.00 $100.00 $230.00 National Sheet Side Open 81/2 x 171/2 25.00 100.00 180.00 425.00 Stock Certificate End Open 91/2 a 121/2 12.50 57.50 95.00 212.50 Map and Bond Size End Open 18 x 24 48.00 225.00 370.00 850.00 You may assort noteholders for best price (min. 50 pcs. one size). You may assort sheetholders for best price (min. 5 pcs. one size) (min. 10 pcs. total). SHIPPING IN THE U.S. (PARCEL POST) FREE OF CHARGE Mylar DC) is a Registered Trademark of the Dupont Corporation. This also applies to uncoated archival quality Mylar0 Type D by the Dupont Corp. or the equivalent material by ICI Industries Corp., Melinex Type 516. DENLY'S OF BOSTON P.O. Box 1010 617-482-8477 Boston, MA 02205 ORDERS ONLY: 800-HI-DENLY FAX 617-357-8163 • u,44; U INC. P.O. BOX 84 • NANUET, N.Y 10954 it IltSIlit.vo OBSOLETE CURRENCY, NATIONALS, U.S. TYPE, UNCUT SHEETS, PROOFS, SCRIP. BUYING / SELLING: Periodic Price Lists available: Obsoletes($3 applicable to order), Nationals, & U.S. Large & Small Size Type. PHONE or FAX BARRY WEXLER, Pres. Member: SPMC, PCDA, ANA, FUN, GENA, ASCC (914) 352.9077 Page 110 Paper Money Whole No. 195 BOOKS ON PAPER MONEY & RELATED SUBJECTS The Engraver's Line: An Encyclopedia of Paper Money & National Bank Notes, Kelly 45 Postage Stamp Art, Hessler $85 U.S. National Bank Notes & Their Seals, Prather 40 Comprehensive Catalog of U.S. Paper Money Paper Money of the U.S., Friedberg. 14th edition 24 Errors, Bart 35 Prisoner of War & Concentration Camp Money of the The Comprehensive Catalog of U.S. Paper Money, Hessler 40 20th Century, Campbell Small-Size U.S. Paper Money 1928 to Date, Oakes & 35 U.S. Essay, Proof & Specimen Notes, Hessler 19 Schwartz. Softbound 25 The Houston Heritage Collection of National Bank World Paper Money, 7th edition, general issues 55 Notes 1863-1935, Logan 25 World Paper Money, 7th edition, specialized issues 60 10% off five or more books / SI TIPPING: $3 for one book, $4 for two books, $5 for three or more books. All books are in new condition & hardbound unless otherwise stated. CLASSIC COINS - P.O. BOX 95 - Allen, MI 49227 PHILLIP B. LAMB, LTD. CONFEDERATE STATES OF AMERICA, HISTORICAL CONNOISSEUR Avidly Buying and Selling: CONFEDERATE AUTOGRAPHS, PHOTOGRAPHS, DOCUMENTS, TREASURY NOTES AND BONDS, SLAVE PAPERS, U.C.V., OBSOLETE BANK NOTES, AND GENERAL MEMORABILIA. Superb. h'riendly Service. lbsplal log at many major trade shows. PHILLIP B. LAMB P.O. Box 15850 NEW ORLEANS, LA 70175-5850 504-899-4710 QUARTERLY PRICE LISTS: $8 ANNUALLY WANT LISTS INVITED APPRAISALS BY FEE. Buying & Selling National Bank Notes, Uncut Sheets, Proofs, No. 1 Notes, Gold Certificates, Large-Size Type Error Notes, Star Notes. Commercial Coin Co. P0. Box 607 Camp Hill, PA 17001 Phone 717-737-8981 Life Member ANA 639 TaitliONW-OAL141" III CAMP HILL NATIONAL BAH 0 CAMP HILL 03ra PEN NSYLVANIA CV I:4;ZT)Z;i1311Z4' F000126P DON'T RISK YOUR COLLECTION STORE IT IN MYLARTM! Oregon Pioneer Albums & Sleeves SafeKeeper Albums Flexible Albums Safe Deposit Box Size Inexpensive Post Binder Format 25 MYLARTM Pages 50 MYLARTM Pages Durable Flexible Cover Black Leatherette Cover Plastic Spiral Binding 6 Sizes in Stock: Compact & For Currency of all Lightweight Types including 4 Sizes in Stock: Checks, Large US, For Checks, Small US, World, Postcards, Fractionals, etc. Stock Certificates, Postcards, Fractionals, etc. Custom Albums Available Many Sizes of MYLARTM Sleeves Also In Stock Call, Write or Fax Now for Information Your Complete Satisfaction Guaranteed OREGON PAPER MONEY EXCHANGE 6802 SW 33rd Place Portland, OR 97219 (503) 245-3659 Fax (503) 244-2977 BUYING and SELLING PAPER MONEY U.S., All types Thousands of Nationals, Large and Small, Silver Certificates, U.S. Notes, Gold Cer- tificates, Treasury Notes, Federal Reserve Notes, Fractional, Continental, Colonial, Obsoletes, Depression Scrip, Checks, Stocks, etc. Foreign Notes from over 250 Countries Paper Money Books and Supplies Send us your Want List ... or ... Ship your material for a fair offer LOWELL C. HORWEDEL P.O. BOX 2395 WEST LAFAYETTE, IN 47906 S PM C #2907 ANA LM #1503 Paper Money Whole No. 1.95 Page 111 SPMC LM-120 ANA 640 FUN LM-90 The Nest Egg Photo-Sculpture by Laperruque Constructed with images of world currencies, stocks o and bonds. Custom Nest Eggs can be created from E., your paper collectables. 2 Available through R.M. Smythe & Co. / New York City 800-622-1880 Short Hills Art Gallery / Short Hills, NJ 973-379-5577 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 LiCefiAV15)Ufe Member ag11161EST 1960 COIN SHOP INC SEND FOR OUR COMPLETE PRICE LIST FREE WANTED ALL STATES ESPECIALLY THE FOLLOWING: TENN-DOYLE & TRACY CITY: AL, AR, CT, GA, SC, NC, MS, MN. LARGE & SMALL TYPE CONFEDERATE. WRITE WITH GRADE & PRICE. ALSO SEND (WANT LIST) FOR LARGE & SMALL TYPE NOTES SEND FOR LARGE PRICE LIST OF NATIONALS— SPECIFY STATE DECKER'S COINS & CURRENCY P.O. BOX 250, BLAINE, TN 37709 (423) 932-9677 WANTED WISCONSIN NATIONALS '.011191 I1nletelit X367773H $17) 1411 . 44-„-PMlog 5779IN 4 IFIroz=bum Immo Aostaftwamoiii , spionensmamosi4iaccarmarevandma C. Keith Edison P.O. Box 845 Independence, WI 54747-0845 (715) 985-3644 FAX (715) 985-5225 Page 112 Paper Money Whole No. 195 Always Wanted Monmouth County, New Jersey Obsoletes - Nationals - Scrip Histories and Memorabilia Allenhurst - Allentown - Asbury Park - Atlantic Highlands - Belmar Bradley Beach - Eatontown - English town - Freehold - Howell Keansburg - Keyport - Long Branch - Manasquan - Matawan Middletown - Ocean Grove - Red Bank - Sea Bright - Spring Lake N.B. Buckman P.O. Box 608, Ocean Grove, NJ 07756 800-533-6163 Fax: 732/922-5055 MOitifeall N31110111,11 , ealize Top Market Price for Your Paper Money! The currency market is hot! In recent months we have seen a tremendous amount of buying activity and invite you to jump on the bandwagon. Consider selling your important notes and currency items in one of our upcoming auctions to be held in New York City or in conjunction with the Suburban Washington/Baltimore Convention. The same bidders who helped set world record prices in our recent sales will compete for your currency items as well. Call Q. David Bowers, Chairman of the Board, or John Pack, Auction Manager, at l-800-458-4646 to reserve a space for your material. We can even provide a cash advance if you desire. It may be the most financially rewarding decision you have ever made. A cut sheet of four $10 Legal Tender notes. F-123 in Average New to Choice New realized $17,600. A $5 Federal Reserve Bank note. F-782* in EF realized $7,150. A $10 Silver Certificate. F-1700 in Gem New realized $8,800. A $100 One-Year Note, believed to be unique, realized $8,250. ■ if 111 I' tl An Interest Bearing $5,000 Proof Note realized $11,000. An Uncirculated Lazy Two $2 note from the State of Missouri, Town of California realized $4,840.Auctions by Bowers and Merena, Inc. Box 1224 • Wolfeboro, NH 03894 • 800-458-4646 • FAX: 603-569-5319 • V rause Publicationsprovides collectors with unbiased and insightful information for true hobby enjoyment. We offer: 1.1 Over 45 years of committed service Accurate, reliable price guides, updated regularly 1,1* Insightful and experienced columnists 1,* Dependable, respected advertisers So relax! Experience true hobby enjoyment all year long with the most committed and dedicated hobby publications in numismatics. For Order Information Call Toll-free U 2 5 (5 9h 9 M-F, 7 am - 8 pm; Sat., 8 am - 2 pm CT Visit and order from our secure web site: