Paper Money - Vol. XXXVIII, No. 6 - Whole No. 204 - November - December 1999

NOVEMBER/DECEMBER 1999VOL. XXXVIII, No. 6 WHOLE No. 204 3r1 XV" EX 36111%("90 in Confederatcootes or Missouri bonds when the sum of 15/► is presented. ULIALK BLVFF., Ito.. INSIDE THIS ISSUE: The Society Catches Up On Unfinished Business and Readies for the New Millennium Official Journal of the Society of Paper Money Collectors WWW.SPMC.ORG ,HE STATE OF FLORIDA , DOLLARS. -4: /7 /7 / . • L!,144. J • . What's The Best Way To Sell Your Paper Money Collection? The best way to sell your collection is to consign it to someone you trust. Your currency collection probably took years to acquire. Each purchase was thoughtfully considered, each note carefully stored, and handled with respect. The sale of your collection should be accomplished in the same manner. Carefully, and thoughtfully. At Smythe, we care about our consignors, our bidders, and our staff members. We don't misgrade your lots, or sell them long after midnight, or during convention hours. We strongly support the show organizers and local clubs that work hard to make paper money shows successful, and we are proud that we have consistently been selected as one of the Official Auctioneers of the Memphis International Paper Money Show. We illustrate every major note, using boxes or color where appropriate. Each note is carefully graded and researched by our nationally-recognized, full-time paper money experts. Our rates are flexible and highly competitive. There are no lot charges, photo charges or minimum charges on Federal Currency. If you are thinking of selling, take advantage of the strongest currency market we have seen in years, and take this opportunity o showcase your better single items, or your entire collection, in the next R. M. Smythe auction. 2000 Auction Schedule • February 18-20, 2000 Chicago Paper Money Exposition Auction, Chicago, IL. • May 2000 Coins and Autographs, New York, NY. • June 15-18, 2000 International Paper Money Show Auction, Memphis, TN. • September 13-17. 2000 5th Annual Strasburg Paper Money Collectors Show & Auction, Strasburg, PA. •November 2000 Coins and Autographs, New York, NY. To Consign, please call Stephen Goldsmith at 800-622-1880. To Subscribe: Only subscribers can be fully assured of receiving our fully-illustrated thoroughly-researched catalogues. Do you need to check on the status of your subscription? Call Marie Alberti at 800-622-1880 or 212-943-1880. A one year subscription to all RMS catalogues is $87.50 ($125 overseas). Other subscription plans are available. Call today for further information. See Us At Close To 40 Shows This Year! We will be planning to attend almost every major numismatic show, represented by Stephen Goldsmith, Douglas Ball, Kevin Foley, or Martin Gengerke. If necessary, we will travel to see your collection. Call 800-622-1880 for further information. Stephen Goldsmith MEMBER 26 Broadway, Suite 271, New York, NY 10004 • www.rm-smythe.com (--- PAPER MONEY is published every other month beginning in January by the Society of Paper Money Collectors (SPMC). Second-class postage is paid at Dover, DE 19901. Postmaster send address changes to Secretary Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941. © Society of Paper Money Collectors, Inc., 2000. All rights reserved. Reproduction of any article, in whole or in part, without express written permis- sion, 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 will be sent postpaid. Send changes of address, inquiries concerning non-delivery of PAPER MONEY and requests for additional copies of this issue to the Secretary. MANUSCRIPTS Manuscripts not under consideration elsewhere and publications for review should be sent to the Editor. Accepted manuscripts will be published as soon as possible; however, publication in a spe- cific issue cannot be guaranteed. Opinions expressed by authors do not necessarily reflect those of the SPMC. Manuscripts should be typed (one side of paper only), double-spaced with at least 1-inch mar- gins. The author's name, address and telephone number should appear on the first page. Authors should retain a copy for their records. Authors are encouraged to submit a copy on a 3'/cinch MAC disk, identified with the name and version of soft- ware used. A double-spaced printout must accompany the disk. Authors may also transmit articles via e-mail to the Editor at the SPMC web site. Original illustrations are preferred. Scans should be grayscale at 300 dpi. Jpegs are pre- ferred. Include a SASE post card for acknowl- edgement. ADVERTISING All advertising copy and correspondence should be sent to the Editor. To keep rates at a mini- mum, all advertising must be prepaid according to the schedule below. In exceptional cases where special artwork or additional production is required, the advertiser will be notified and billed accordingly. Rates are not commissionable; proofs are not supplied. Advertising Deadline: Copy must be received by the Editor no later than the first clay of the month preceding the cover date of the issue (for exam- ple, February 1 for the March/April issue). With advance notice, camera-ready copy will be accepted up to 15 clays later. ADVERTISING RATES Space 1 time 3 times 6 times Outside back cover $152 $420 $825 Inside cover 145 405 798 Full page 140 395 775 Half page 75 200 390 Quarter page 38 105 198 Eighth page 20 55 105 Requirements: Full page, 42 x 57 picas; half-page may be either vertical or horizontal in format. Single-column width, 20 picas. Page position may be requested, but cannot be guaranteed. Advertising copy shall be restricted to paper cur- rency and allied numismatic material and publi- cations, and related accessories. The SPMC does not guarantee advertisements, but accepts copy in good faith, reserving the right to reject objec- tionable material or edit copy. SPMC assumes no financial responsibility for typographical errors in ads, but agrees to reprint that portion of an ad in which a typographical error occurs upon prompt notification. PAPER MONEY • November/December 1999 • Whole No. 204 157 paper ,41,A Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XXXVIII, No. 6 Whole No. 204 NOVEMBER/DECEMBER 1999 ISSN 0031-1162 FRED L. REED III, Editor, P.O. Box 793941, Dallas, TX 75379 Visit the SPMC web site: www.spmc.org IN THIS ISSUE FEATURES William A. Philpott, Collector Extraordinaire 159 By Frank Clark The Search for Chalk Bluff, Mo. 164 By Ron Horstman Exchanging Currency in Hawaii 166 By Bob Cochran My Deuce Coup 168 By Kim Fisher The Green Goods Game 178 Conducted by Forrest Daniel A Pedigreed Dog 182 By Forrest Daniel SOCIETY NEWS Information & Officers 158 SPMC Annual Awards 170 The State of the Society 171 By SPMC President Frank Clark Editorial Notes 172 Call for Nominations 172 New Members 173 1999 Memphis Annual Board Meeting Minutes 175 1999 Memphis Annual General Meeting 176 1999 St. Louis Board Meeting Minutes 176 1999 St. Louis Regional Meeting 178 Recent Additions to SPMC Library 181 Reviewed by Frank Clark Money Mart 183 Advertisers Index 185 IN THIS ISSUE The New Millennium augurs a rebirth for SPMC. Details inside. BUYING AND SELLING CSA and Obsolete Notes CSA Bonds, Stocks & Financial Items 60-Page Catalog for $5.00 Refundable with Order ANA-LM SCNA PCDA CHARTER MBR HUGH SHULL P.O. Box 761, Camden, SC 29020 (803) 432-8500 FAX (803) 432-9958 SPMC LM 6 BRNA FUN 158 November/December 1999 • Whole No. 204 • PAPER MONEY Society of Paper Money Collectors The Society of Paper Money Collectors (SPMC) was orga- nized in 1961 and incorporated in 1964 as a non-profit organization under the laws of the District of Columbia. It is affiliated with the American Numismatic Association. The annual SPMC meeting is held in June at the Memphis IPMS (International Paper Money Show). Up-to-date infor- mation about the SPMC and its activities can be found on its Internet web site www.spmc.org . MEMBERSHIP—REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. Members of the ANA or other recognized numismatic soci- eties are eligible for membership; other applicants should be sponsored by an SPMC member or provide suitable ref- erences MEMBERSHIP—JUNIOR. Applicants for Junior membership must be from 12 to 18 years of age and of good moral character. Their application must be signed by a parent or guardian. Junior membership numbers will be preceded by the letter "j," which will be removed upon notification to the secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or vote. DUES—Annual dues are $24. Members in Canada and Mexico should add $5 to cover postage; members throughout the rest of the world add $10. Life member- ship—payable in installments within one year—is $500, $600 for Canada and Mexico, and $700 elsewhere. Members who join the Society prior to October 1 receive the magazines already issued in the year in which they join. Members who join after October 1 will have their dues paid through December of the following year; they also receive, as a bonus, a copy of the magazine issued in November of the year in which they joined. Dues renewals appear in the Nov/Dec Paper Money. + OFFICERS PRESIDENT Frank Clark, P.O. Box 117060, Carrollton, TX 75011-7060 VICE-PRESIDENT Wendell A. Wolka, P.O. Box 569, Dublin, OH 43017 SECRETARY Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941 TREASURER Mark Anderson, 335 Court St., Suite 149, Brooklyn, NY 11231 APPOINTEES: EDITOR Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941 CONTRIBUTING EDITOR Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 LEGAL COUNSEL Robert J. Galiette, 3 Teal Ln., Essex, CT 06426 LIBRARIAN Richard J. Balbaton, P.O. Box 911, North Attleboro, MA 02761 MEMBERSHIP DIRECTOR Frank Clark, P.O. Box 117060, Carrollton, TX 75011-7060 PAST PRESIDENT Bob Cochran, P.O. Box 1085, Florissant, MO 63031 1929 NATIONALS PROJECT COORDINATOR David B. Hollander, 406 Viduta PI, Huntsville, AL 35801-1059 WISMER BOOK PROJECT Steven K. Whitfield, 14092 W. 115th St., Olathe, KS 66062 BOARD OF GOVERNORS: C. John Ferreri, P.O. Box 33, Storrs, CT 06268 Ronald L. Horstman, 5010 Timber Ln., Gerald, MO 63037 Arri "AJ" Jacob, P.O. Box 361, Los Alamitos, CA 90720-0361 Judith Murphy, P.O. Box 24056, Winston-Salem, NC 27114 Robert Schreiner, 103 Windsor Cir., Chapel Hill, NC 27516-1208 Stephen Taylor, 70 West View Ave., Dover, DE 19901 William A. Philpott 1885-1971 t' 1-11.--11-111-ES 6 t • , lilt ail ..11 CI, IC , ...r.lb ./..,,,,°,....,.... ° .:.•,,,,,,,,,,,......-- 7...,.. ) , ,c,-....7, ,.....> - 4. - r; -.::' 4.1. " Is 8> . .C., a ...> ■ 0 , PAPER MONEY • November/December 1999 • Whole No. 204 159 William A. Philpott, Jr. Collector Extraordinaire BY FRANK CLARK Ah LMOST ALL MAJOR PAPER MONEY AUCTIONS WILL have some mention of William A. Philpott, either in the provenance of a note, or in comparing a Texas National Bank Note to the vast oldings of the fabled Philpott collection of Texas Nationals. Hopefully, this article will shed some light on "Mr. Phil, collector extraor- dinare." William Albert Philpott, Jr. was born in St. Jo, Texas, on September 17, 1885. The Philpotts later moved to Rising Star, Texas, and onto Bowie, Texas, in 1900. Philpott attended The University of Texas in Austin. While at UT he excelled in scholarship. He also was the editor of the campus daily paper and founded a humor magazine. In sports, he was a gymnast and even won a statewide gymnastic competition. After graduation he became a cub reporter far the San Antonio Express. His next job was as the night editor for the Austin Statesman. In 1913 he became the editor of the Texas Bankers Record, and in 1915 he was elected to the posi- tion of secretary of the Texas Bankers Association. A move to Dallas was next in order. Philpott held both offices until he retired on January 1, 1964. Philpott was with the Texas Bankers Association for more than fifty years. He had a monthly essay in each Texas Bankers Record. From 1948 to 1963 these essays were turned into annual booklets by using essays that had appeared over a thirty-five year period. These booklets were distributed to friends around Christmas time. He also had many other of his thoughts pub- lished and distributed throughout his lifetime, including personalized greetings he would send out on his birthday. On December 14, 1914, he married Mary Bachman of Austin. J. Frank Dobie was his best man. The Philpott's first child, a son, died during child- birth. However, more tragedy struck the Philpott household. His wife died on December 21, 1922, two days after the birth and death of their second son. Philpott was a lifelong numismatist. He joined the American Numismatic Serial Number 1, Plate Position D, $5 Series of 1902 Date Back on the Fifth-Third National Bank of Cincinnati, Ohio, formerly owned by William A. Philpott. Notice the low Treasury Serial Number - A7670 - the 7,670th sheet of $5 Series of 1902 Date Backs printed. W. Collection o`.. . MR. W. A. PHILPOTT DALLAS, TEXAS `Me Collection . MR. HENRY L. ZANDER GALVESTON, TEXAS Gold, Silver and Copper Coins, Currency Medals, Tokens, Etc. TO BE SOLD WITHOUT RESERVE •• 14idasy, Nauerni,e4 .23, f945 ONSAIOLUED AND ro 12 SOLD Sr 1,7 -C71,2 I MAT I min BUILDING FORT WORTH, TEXAS * * * * * * * * * * * November/December 1999 • Whole No. 204 • PAPER MONEY160 Cover of the William A. Philpott auction sale conducted by B. Max Mehl on November 23, 1945. * * * * * 4 c7e,xca gale * * Association in 1918 with membership number 1978, and began his numismatic writings in 1929. During the "Roaring Twenties," he became a student/collec- tor of U.S. currency, and even had his own numismatic daily radio program in Dallas in 1927. The Texan is credited with the discovery of the 1918/7-S Standing Liberty quarter. Philpott's career with the Texas Bankers Association made him known to virtually every banker in the state. He also was well known at the Dallas Federal Reserve Bank. This led to many coin and currency acquisitions, including but not limited to purchases of hoards of $1 gold pieces, uncut sheets of small size Texas National Bank Notes, packs of non-current Federal curren- cy plus many other coins and notes that had found their way into the banks of Texas. For large purchases he would take out another loan from his bank. B. Max Mehl sold his coin collection by mail bid on November 23, 1945. From then on he concentrated exclusively on his currency collection. He col- lected U.S. large size type notes in depth, replacement notes, selected small size notes, National Bank Notes from across the nation, including "Serial Number 1" notes. However, his outstanding collection of large size Texas National Bank Notes is what is revered by collectors today. Philpott collected by bank, type, denomination and bank officer signature combination. Unless the note was very rare, the quality of the notes in his col- lection was very high. He also had specialized collections of Texas First Charter Nationals, "Serial Number 1" notes and National Bank Notes signed by presidents of the Texas Bankers Association. Eventually his Texas Nationals comprised over $35,000 in face! Two extremely large exhibits come to mind: (1) one at the 1953 ANA con- PAPER MONEY • November/December 1999 • Whole No. 204 161 William A. Philpott shows a little girl a Series 1918 $50 Federal Reserve Bank Note on the St. Louis Federal Reserve Bank. This scene transpired during the 1953 American Numismatic Association convention in Dallas. The girl is evidently not impressed! vention in Dallas required the entire side of a wall; and (2) an exhibit at the 1954 opening of the new building for the Republic National Bank in down- town Dallas which required a booklet of 82 pages. The latter exhibit consisted of only Texas Nationals issued from 1865 - 1928, but included more than 1,000 notes representing over 700 different banks! Mr. Phil's collections were dispersed in the mid-1960s by running ads in the numismatic press and by private treaty. A large collection of non-Texas National Bank Notes was sold to Art Kagin. The Texas Nationals were sold through John Rowe and Tom Bain to Mary Moody Northern, who wanted the notes signed by her father, W.L. Moody. Mr. Moody had served as president of the City National Bank of Galveston. She also wanted the notes signed by the presidents of the Texas Bankers Association. About this time, Philpott helped the Dallas Federal Reserve Bank prepare its traveling currency exhibit. This great collector also revered the history of his home state. A collector early Texas letters, manuscripts, historical documents, books, etc., Philpott had one of the largest collections of this material ever formed. The Philpott Collection in the Main Library at The University of Texas in Austin is named for him. V.W.A.PHILPOTT, JR. core THE TEXAS BANTERS ASSOCIATION Orrica September 8, 1966 P. 0. Bea 1100 1010 IDAAA Evn.vino DALLAS, TEXAS 79401 Mr. H. H. Chapman USNS Norwalk (T-AK279) FPO, New York 09501 Dear Mr. Chapman: Here's your note, #1 on 5th Third National, Cincinnati. Your check covering is acknowledged. Thanks. Know you will be pleased with our friend Hinech's name in autograph. You also might have heard of Monty Goblet, the cashier - if you are a Cincinnati native. Good luck in your collecting. If I can help you, let no know. Sincerely, Fin. A. Philpott, Jr. ANA #1978 November/December 1999 • Whole No. 204 • PAPER MONEY162 William A. Philpott's letter of transmittal to the lucky new owner for the note shown on Page 159. Philpott wrote numismatic articles that usually were printed in The Numismatist, Coin World or Numismatic Scrapbook. As would be expected, usu- ally these articles were on currency. However, one of his favorite coin topics was on the Confederate half dollar, including both the originals and restrikes. At one time or another, Philpott owned more than 50 of the restrikes! His last article was published posthumously in this magazine, Paper Money, along with his obituary. In May of 1925, Philpott along with C.A. McGlamery founded the Dallas Coin Club. This is the oldest coin club in the South. Philpott was the first president of the club and he also served as its president during 1938-39. From the begin- ning this coin club has always had a strong contingent of currency collectors. To repre- sent this first southern coin club, its founders chose the Confederate half dollar reverse as the club's emblem. To celebrate the club's twenty-fifth anniversary, Philpott and other club members persuaded the American Numismatic Association to hold its 1953 annual convention in Dallas at the Baker Hotel At this and other ANA conventions, Philpott exhibited many notes from his collection. In fact, during one stretch of three years he won the ANA's first place currency award every year! This helped him attain his nickname of "Mr. Paper Money." Along the way, Philpott also was awarded other ANA awards for "Best of Show" and both the Heath and Zerbe literary awards. In 1965 at the ANA's Houston con- vention, he received the association's Medal of Merit. The ANA further awarded him a 50- year Gold Membership Medal in 1968 at the San Diego convention. The ANA elected the Texas collector to its Hall of Fame posthumously. Philpott attended all of the ANA conventions from 1929 - 1968, except for the 1964 convention in Cleveland. At these conventions, he often served as chairman of the ANA Finance and Auditing Committee. Several times he was the Credentials Committee chairman. From 1929 - 1938 he served on the ANA's Board of Governors. Another honor bestowed upon him was his appointment by President Lyndon Johnson to the United States Assay Commission in 1967. Philpott, in addition to other members of the Dallas Coin Club, was a charter member of this organization, the Society of Paper Money Collectors. He obtained SPMC membership number 15. At the ANA convention in Washington, D.C. in 1971, the veteran syngraphist was presented SPMC's "Nathan Gold Memorial Award" by this society for his lifetime achievements in the paper money hobby. One of Philpott's most enduring contributions to this hobby is omnipresent to collectors today. His listing of signature combinations on United States currency has appeared in every edition of Robert Friedberg's Paper Money of the United States in that book's appendix. This table of signature combinations hearkens back to a sheet published in 1929 by Philpott and fel- low Dallas Coin Club member J.H. Cassidy. In this original printing, the Resisters of the Treasury and Treasurers of the U.S. are extended back in time to July 29, 1775. Also, many of the notes that are illustrated in Friedberg's Statement of Condition ASSETS AND LIABILITIES of phi,. MO! • umber MI., A.0., else BIrch Sat.. or NOTHING POSITIVE No Dr. in No Community Room No Snack Bar PAPER MONEY • November/December 1999 • Whole No. 204 163 influential book came from a type collection that Philpott had sold to Friedberg. Mr. Phil's many friends remembered him fondly. Qualities used to describe him were "preciseness, accuracy, punctuality." Philpott was "fond of the past, but optimistic toward what the future may hold." The Texan "always met the needs of his friends and family," and was fond- ly called "Mr. Phil." In addition to his many accom- plishments, Philpott was a generous family-oriented man. In 1925 he took his parents into his home where they resided until their deaths in the early 1940s. A decade or so later in 1951, he had his residence remod- eled so that both of his sisters, Ruth and Bellah, could come and live with him. One of the improvements made to his home was the addition of an elevator, which was the first elevator to be installed in a resi- dence in Dallas. At the age of forty Philpott took up golf and became avid at the sport. He won many amateur con- tests and later in life was able to shoot his age or better. He tallied six holes-in-one over the years including one that. won him $2,500 in a tournament at Lakewood Country Club. Philpott died unexpectedly at the age of 86 on October 10, 1971. On the morning of his death he had played golf with three of his friends. During the round Philpott was not feeling well. After returning home, later that day he had a heart attack. In fact, he was scheduled to play in a banker golf tournament in Seguin, Texas, the next day. Although he was 86 when he died, Mr. Phil was never old. He was not satisfied to just be another collector. He was truly a dedicated student of numismatics. He approached his hobby with an active and alert mind and a zest that was hard to beat. Though I appeared on the paper money scene after Philpott's death, I often heard Philpott-tales and was shown ex-Philpott notes. Along the way, I acquired some Philpott memorabilia. A few of those items are pictured. v BIBLIOGRAPHY Brooks, T. Homer, oral history. Rowe, John N. III, oral history. "Philpott Pioneered Currency Collecting," reprinted from Coin World in the Dallas Coin Club, Inc. Yearbook (1966). Gatton, T. Harry. The First Century 1885 - 1985, Texas Bankers Association, Austin, Texas (1984). Knight, Lyn. "Old Time Currency Collectors and Currency" video tape, Dealers Round Table with Art Kagin, Dean Oakes, John N. Rowe III, Dennis Forgue and Lyn Knight at the Stamford, Connecticut, Paper Money Show (December 1998). Paper Money, Volume 9 Number 4 (Fourth Quarter, 1969) and Volume 11 Number 1 (First Quarter, 1972), Society of Paper Money Collectors. Texas Bankers Record (October, 1971), Texas Bankers Association. TNA News (September, 1968), Texas Numismatic Association, Inc. Various clippings from the numismatic and non-numismatic press. Title Page of William A. Philpott's "Statement of Condition" for himself in his 80th year. Inside, the legendary collector listed his primary asset as "Humility in Abundance" and his greatest liability as "A Large Deposit of Octogenarian Rancor." These publications display Philpott's abundant sense of humor. On demand, I will pay , 3E" Xlq30"ST 3M11 in Confederate•notes or Missouri bonds when the sum of $,10 is presented. uHALK BLurr., Mo. trar)-1-1 164 November/December 1999 • Whole No. 204 • PAPER MONEY Fifty-cent scrip note #92 with vignette of sidewheel river boat, signed by J. W. Edmonton and dated May 20, 1863. Note: pen alteration of redemption clause from $20 to $10. The Search for Chalk Bluff, Mo • BY RON HORSTMAN T HE VERY INTRIGUING NOTE SHOWN ABOVE FIRST appeared in an April, 1985, Bank Note Reporter advertisement of Currency Unlimited, the firm operated by Don Fisher. In that ad, Don described the note as being "very fine and very rare." The piece was subsequently purchased by my friend and fellow collector, Karl Zuehlke. Karl, also of St. Louis, was an avid collector of obsolete notes and scrip from all over the United States, but he eagerly searched for and bought Missouri items. I was visiting Karl in May, 1997, when he quietly said to me, "Collecting just isn't fun anymore." His health was failing, and he had great difficulty see- ing all the intricate details on his many, many beautiful notes. He asked me if I would help him sort out his collection so he could dispose of it. While we were going through the material, we came across the Chalk Bluff scrip note. I asked Karl if he had ever been able to locate the site. He shook his head, handed me the note, and ordered, "Find out!" Unfortunately, Karl passed away on July 5th that year. I searched for a "Chalk Bluff' on quite a few maps of the State of Missouri, and in a number of post office directories — all with no success. I wrote a letter to my friend, Linda Brown Kubish, at the Missouri State Historical Society in Columbia, asking for her assistance. Linda kindly per- formed some research of their holdings, and notified me that she found a ref- erence to a "Chalk Bluff" in Dunklin County. Dunklin County is located in the famous "Bootheel" of Missouri; it's actually the county on the west side of the "Bootheel." I was curious to find out as much as I could about the area, so I planned a visit to Dunklin County during my vacation in September, 1998. Driving south on Interstate 55 to Sikeston, and continuing over state highways 60 and 62, I reached the town of Campbell. I then traveled about four miles on gravel Dunklin County roads until I reached a Missouri Department of Conservation Chalk Bluff is located in Dunklin County in Missouri's Bootheel. PAPER MONEY • November/December 1999 • Whole No. 204 165 boat ramp at the St. Francis River. The weather had been quite dry, and the river appeared to be about 30 feet wide at that point. I noticed a couple of dogs cavorting in the water near- by, and judged it to be about a foot deep. On the Missouri side of the river, there was only a simple sign, which stated that this was the site of a Civil War battle. When I crossed over to the Arkansas side, I was really impressed with that state's attention to the site. For visitors so inclined, there was a picnic ground complete with cooking pits and shelters. Several large markers identified the site as the Battle of Chalk Bluff. These explained in detail the events that took place at the site during the Civil War as the trail wound down to the river's edge. According to one of the signs, the area received its name because of the chalk-colored clay in the bluffs. The St. Francis River crosses the Crowley Ridge, a crescent-shaped for- mation beginning in southeastern Missouri and continuing southward to Helena, Arkansas. This natural north-south trail divides the swamp lands of the two states. It was ct this point on the river that the community of Chalk Bluff was located, most of it on the Arkansas side. Chalk Bluff was of vital importance to the Confederate forces. A ferry operated between Arkansas and Missouri at the site. During the early years of the Civil War, the Confederate forces controlled the area, striking at Federal forces and then disappearing into the nearby swamps. Troops, supplies and munitions were often collected at Chalk Bluff and shipped downstream to the larger Confederate armies. On March 9th, 1863, Union Brigadier General John McNeil marched south from Bloomfield, Missouri, at the head of some 500 troops. His goal was to rid the area of the bothersome Confederates, and the capture of Chalk Bluff was his first objective. McNeil and his force arrived the next morning, and found the ferry tied up on the other side of the river. The Confederates held a strong position, but McNeil had brought two Howitzer cannon with him. The Union artillery bombarded the Confederate forces for several hours, eventually convincing them to withdraw. At that time five Federal volunteers were able to swim the river and retrieve the ferry. Soon, three companies of Union soldiers had crossed the river, burned the community of Chalk Bluff and destroyed a supply of corn. On April 20th, 1863, the Confederate Cavalry surprised the Union encampment at Chalk Bluff and drove them back across the St. Francis River into Missouri. A third (and final) major battle was fought at Chalk Bluff on May 1, 1863. A force of approximately 5,000 Confederates under the com- mand of General John S. Marmaduke engaged a Union force of some 8,000 troops commanded by Generals John Vandiver and the persistent John McNeil. The Union forces won convincingly, and the area remained under Union control for the remainder of the War. Losses were high on both sides, and the dead were buried together in a mass grave in the Scatterville Cemetery in nearby Rector, Arkansas. Edmonton's store was located on the Missouri side of the river. By 1882 the town of Chalk Bluff had faded away; most of the businesses had moved to nearby St. Francis, which featured a new railroad line and a bridge across the St. Francis River. Karl Zuehlke is gone, but thanks to his challenge I learned the history of a small community (now gone) in my home state, and its role in our nation's greatest internal struggle. Yes, Karl, I found out. ACKNOWLEDGEMENT Linda Brown Kubish of the Missouri State Historical Society. 166 Submitted by BOB COCHRAN Atiouwa xrtioimumareS - tarustes....E roxup.m.ssmacon. unansuizt1 C 01650232 C November/December 1999 • Whole No. 204 • PAPER MONEY Exchanging Currency in Hawaii Air Y GOOD FRIEND, FELLOW BIBLIOPHILE Michael J. Sullivan of Cincinnati, recently gave me a booklet published in 1944 by the Bishop National Bank of Hawaii at Honolulu (Charter 5550). The booklet is really just a vehicle to publicize the bank's Statement of Condition as of December 31, 1944. However, it does contain a one-page his- tory of the bank, photographs of many of the bank's branches on the islands — AND the great photo included here. As almost everyone knows, the U.S. Naval Base at Pearl Harbor, Hawaii, was attacked by the Japanese on December 7, 1941. It was feared that they might return and invade the islands. The U.S. Treasury Department was concerned that if the Japanese captured Hawaii, they could utilize any captured U.S. currency to undermine the U.S. economy. As stated in the Standard Guide to Small-Size U.S. Paper Money 1928 to Date, an emergency measure was taken: "A spe- Customers of the Bishop National Bank of Hawaii at Honolulu exchange their currency on July 15, 1942, for notes imprinted with the word "HAWAII." World War II emergency overprinted currency bears the imprint "HAWAII" twice vertically on its obverse in small letters and once horizontally on its reverse in large letters. cially marked U.S. currency was introduced into Hawaii in July 1942, as an economic defense against a possible Japanese occupation." These notes were overprinted "HAWAII" horizontally on the back and vertically at each end on the face. Only the over- printed notes were allowed in Hawaii after August 14, 1942, except in rare instances approved by the Governor of Hawaii. Notes utilized for this purpose were the $1 Silver Certificate Series 1935A and the San Francisco Federal Reserve Notes of $5 Series 1934 and 1934A, the $10 Series 1934A and the $20 Series 1934 and 1934A. All of the Hawaii overprinted currency carried brown seals and serial numbers and the Julian-Morgenthau signatures. The prohibition of unmarked currency in Hawaii remained in effect until October 21, 1944. Many of these "HAWAII" overprinted notes have sur- vived, thankfully. They serve as reminders of the World War that took place so long ago, and the many sacrifices made to ensure our continued way of life. I've always been intrigued by the "people" aspect of paper money, and this photograph reminds me that these notes weren't printed as "souvenirs," or "monopoly money." They served a definite purpose, and their use required everyone with "old" U.S. currency to redeem it for these new "emergency" notes. In this case, it meant standing patiently in line, perhaps for hours, to exchange currency! The next time you look at one of these "HAWAII" notes, remember what they stood for. I do — my late uncle, David Emmett Cochran, Jr. (my middle name is also "Emmett," in his honor) was aboard the U.S.S. Arizona on the morning of December 7, 1941. He survived the attack, and served throughout World War II and beyond, through a 20-year career in the U.S. Navy. SOURCES Oakes, Dean and Schwartz, John. Standard Guide to Small-Size U.S. Paper Money 1928 to Date. Iola, WI: Krause Publications, Inc. v '''1111106 /4 /ve 4eme//r7/ Iv/ /1; D70990 1 ;.,/,,,./.7 ,//3 /,..49/47, 4 iri'ma/lr/ -OktMIT.E111 SERIE,'4,%;;,....,,o, 'Iuiciaxauir,:p.s. .?A4,_,4...,..:1.4... -'''. 2f.e°,...,..:,...'-D70990„. -433MIECUII:Ega,_ VAIIRIENAkikinti4MNra,MTE,M?' IRV P...kshattM, VIVSK 1*.alieof5C:).atelte //fie. hew, I4929443 4143,ant/alitrt(italrff,), WVA09142.ADAHRIit D Sf (5c, gz, ,71....TroutJan.u.s. N9')9443 , ./ SUPERB UNITED STATES CURRENCY FOR SALE SEND FOR FREE PRICE LIST BOOKS FOR SALE 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 Moryez P.O. BOX 355, DEPT. M • ENGLEWOOD, 01I 45322 937-898-0114 168 November/December 1999 • Whole No. 204 • PAPER MONEY My Lazy Deuce Coup BY KIM FISHER A . LITTLE OVER THREE YEARS OF COL- lecting paper money has provided me with new friends and acquaintances and an ever ncreasing awareness of and appreciation for engraving, printing, the connections to and historical significance of money, its impact on our economy, the BEP, the Federal Reserve system, banks, dealers, col- lectors, auction houses and of course the SPMC. It has also given me hours of entertainment and fleeting moments of buyer's remorse. I've experienced the thrill of finding a B/L web note and a 1950C-F $100 star note in circulation, while also experiencing the dis- appointment of seeing a note I paid $825 for advertised in a higher grade for half that price later. The purpose of this article is to assuage the guilt thrust upon me by Past President Bob Cochran who constantly beseeches SPMC members to share experi- ences and information with other collectors. I took a stab at it about a year ago when I wrote to the Bank Note Reporter with evidence that the motto "In God We Trust" made its first appearance on U.S. paper money on the reverse of a $10 First Charter Jacksonville, Florida, National Bank Note. About a month later, while thumbing through an old issue of The Numismatist (July, 1994), I discovered that Gene Hessler had scooped me by several years. My next project will be to invent the light bulb. My "discovery" did, however, evoke a number of responses by other collectors citing earlier variations of the motto. My favorite was sent in by dealer Claud Murphy from Winston-Salem, North Carolina. An obsolete 1834 $5 bank note from the Rhode Island Agricultural Bank bore the motto "In God We Hope". It appears that the decades between the issue of the Rhode Island obsolete and the Florida National had increased public confi- dence in the Almighty. (We HOPE we'll win the lot- tery; We TRUST we'll wake up tomorrow.) Here goes my second attempt to regale the world of paper money enthusiasts with the tale of a new find and the fun I've had researching it. I should mention that I am from the "Treasure Hunt" school of collecting and I get more enjoyment finding a circulated "295" Fort Worth back plate error than sending $10 to a P.O. Box to get a new one. The pleasure for me is in the search and discovery. I stopped into a local "Collectibles" store that deals in everything from Beanie Babies to baseball cards and the owner, aware of my interest in paper money, said he might have something for me. A young man had stopped in to sell two old bank notes given to him by his grandmother. One was a horribly disfigured "Martha" and the other was a very worn but intact Lazy Deuce from the Quinsigamond National Bank of Worcester, Massachusetts. I consulted my handy Kelly reference and found there were two notes reported on this "Large-Size-only" bank. The dealer's price was in line with Kelly's esti- mate and I didn't have a Lazy Deuce in my collection so we struck a deal. I went home to put the note in one of Tom Denly's high quality Mylar-D currency holders, but I had to cut the sides to avoid damaging the delicate note. The closely trimmed border has numerous nicks and chips and there is a split at the top of the center fold. There are also a few pinholes and one small hole where it appears the paper has actually worn through. The signa- tures are faded but legible and the seal and serial num- bers (90 and A72667) are relatively strong. I believe it has the appearance of a VG note, but the weakness of the paper quality demands a grade of only Good. My next step was to check the Kelly/Dean census of Lazy Deuces that appeared in the Jan/Feb and Mar/Apr 1998 issues of Paper Money. Nothing was list- ed for Worcester, Massachusetts, charter 1073 so this could be a true discovery note. I COULDN'T MAKE OUT WITH ANY CER- tainty the signatures (but then I can't decipher the signatures on half of the National Bank Notes I own, regardless of condition) so I placed a call to Worcester. "Name and City?" answered the national directory assistance operator. Familiar with the pronun- ciation of the steak sauce, I asked for the W-O-O-S-T- E-R City Hall. "I'm sorry, I don't have a listing." she replied. "W- ORCESTER", I spelled."WARKESTE R", she corrected me, with the slightly superior tone of someone speaking to a five-year-old incapable of com- prehending the obvious. "Here's the number." It's a good thing the note wasn't from Sault Ste Marie. The receptionist at Worcester (Wooster!) City Hall referred me to the Worcester Historical Museum. The librarian, Theresa Davitt, sent me a wealth of informa- tion about the Quinsigamond National Bank. It was incorporated March 15, 1833, with a capital of $100,000, received it's national charter in May of 1865, and was merged into the Worcester Trust Co. in 1905. //),/, ,/ 14 ,„ -licit/ elri• ito Ili , 11;9* The author's discovery note on the Quinsigamond National Bank. PAPER MONEY • November/December 1999 • Whole No. 204 169 The president and cashier at the time of the issue of Original Series National Bank Notes were Isaac Davis and Joseph Farnum, respec- tively, and the signatures on my Lazy Deuce are "clearly" theirs. Included in all of the information provided by Ms. Davitt was an 1893 newspaper article with a remarkably detailed description of the bank's premises and vault: "The surfaces of the pilasters are relieved by dashes of Byzantine architecture, the details of which are not only in good taste, but noticeable because of their novelty. An open vestibule some six feet in depth has a Boor of marble mosaics, with border of same in colors, and bearing in the center the legend `Quinsigamond National Bank,' in black mosaics. The entrance doors are of white oak, with upper panels of glass and with transoms. The decor cas- ings are in ornamental work, and the whole has a rich and massive aspect. All of the front windows are of heavy French plate glass, with deep inner recesses." That was just a tiny excerpt and I think any modern day reporter devoting so many words to so narrow a topic would probably be cited for violation of the gov- ernment's paper work reduction act. It speaks of a more leisurely paced world before sound bytes and 10-second commercials. M OST OF THE COIN SHOP OPERA- tors I've met are fiercely independent, strongly opinionated and pretty much indifferent to paper money. No excep- tions are Jesse Hoogeveen and John Stepien, owner and manager of J&J Coins in Hammond, Indiana. if you're ever in the area and want a free cup of coffee, their view of the world or a little repartee, be sure to stop in. What, you might ask, does this have to do with a Worcester Lazy Deuce? Read on. In one of his futile attempts to interest me in coins, John gave me a free copy of the May, 1999, issue of COINage magazine. After scanning it for paper money- related ads and articles, I put it aside until one day, des- perate for something to read, I picked up the magazine and came across a story by R. W. Julian about the Dahlonega, Georgia, Mint. It turns out that the first assayer of the Mint and a central figure in Julian's article was none other than a Joseph Farnum. Could this be the same Joseph Farnum who signed my note as cashier? The Mint's Joseph Farnum was appointed assayer in early 1837 and resigned in 1843 after a stormy career. The bank's Joseph Farnum became cashier in 1853 and retired in 1873. No ages were given for Joseph Farnum in either Julian's article or in the information from the Worcester Historical Museum, but my quest to find out if the two Joseph Farnums are related, one in the same, or a coincidence of history, continues. If anyone finds out before I do, write an article for Paper Money about one of your own experiences and mention the answer in your story. I'll enjoy reading it! How great an impact does the existence of this note have on the collecting community? It's not a Hawaiian Red Seal; it's not a Carson City Date Back; and it's not a $500 National Gold Bank Note. It's low grade and it's from the state that currently accounts for the most known Lazy Deuces. HOWEVER: (1) It has an interesting name; (2) It is the only known deuce from a bank with a mere two reported notes; (3) It might be signed by a man of significant numismatic importance; and (4) Among the highly competitive group of collec- tors specializing in Lazy Deuces bearing bank titles with capital "Q's", it will be regarded as a major discovery. REFERENCES: Dean, Charles A., and Don C. Kelly, "What the Deuce," Paper Money (Jan/Feb 1998). Hessler, Gene, "Notes on Paper," The Numismatist (July 1994). _Julian, R.W. "The other `D'," COINage magazine (May, 1999). Kelly, Don C. National Bank Notes: A Guide with Prices (Third Edition, 1997). Nutt, Charles A Histoiy of Worcester and it's People Vol. II Lewis Historical Publishing Co. New York City, (1919), Courtesy of the Worcester Historical Museum. The Worcester Spy, Sunday, March 5, 1893, Worcester, Massachusetts, Courtesy of the Worcester Historical Museum. November/December 1999 • Whole No. 204 • PAPER MONEY170 News of Our Members F SPMCers Take Exhibit Honors ellow SPMC members took paper money exhibit laurels at last summer's 108th American Numismatic Association Convention. Taking first place in U.S. Paper Money and winning the Sidney W. Smith Memorial Award was William H. Horton Jr. for his display of "$1 Note Types, 1862- Present." Runner up was Fred Schwan for "The Wonderful World of MPC Replacement Certificates." Past SPMC Treasurer Noteworthy Speaking of our members, Past President Bob Cochran, offers this quiz: Quick, what former SPMC officer once signed LARGE size National Currency? Give up? Bob knows the answer. It is former SPMC Treasurer I.T. Kopicki. Mr. Kopicki, who passed away in 1970, was formerly the Assistant Cashier of the Lawndale National Bank in Chicago. According to Chicago-area dealer Dennis Forgue, Mr. Kopicki signed just a few sheets of large size currency in his official capacity. One of those sheets, a Series 1902 Plain Back $5-$5-$5- $5 bearing matching serial numbers 9740 signed by Mr. Kopicki, was Lot 1135 in the Illinois Numismatic Association Auction Sale held in 1982. The sale was catalogued and con- ducted by Auction Galleries of Oakbrook. Lot 1135 with Mr. Kopicki's autographs is plated in the catalog. SPMC Annual Awards The 1999 SPMC Awards will be presented at the International Paper Money Show in Memphis, Tennessee, in June, 2000, as follows: 1. Nathan Gold Memorial Award. Established and former- ly (1961-1970) presented by Numismatic News, now by the Bank Note Reporter. Presented to a person who has made a concrete contribution toward the advancement of paper money collecting. Recipients, who need not be members of the SPMC, are chosen by the Awards Committee. 2. Award of Merit. For SPMC member (or members) who, during the previous year, rendered significant contribu- tions to the Society which bring credit to the Society. May be awarded to the same person in different years for different contributions. Recipients to be chosen by the Awards Committee. 3. Literary Awards. First, Second and Third places. Awarded to SPMC members for articles published origi- nally in Paper Money during the calendar year preceding the annual meeting of the Society. A. An Awards Committee member is not eligible for these awards if voted on while he is on the commit- tee. B. Serial articles are to be considered in the year of conclusion, except in case the article is a continua- tion of a related series on different subjects; these to be considered as separate articles. C. Suggested operating procedures: The Awards Committee chairman will supply each committee member with a copy of the guidelines for making awards. Using the grading factors and scoring points which follow, each member will make his selection of the five best articles published in the preceding year, listing them in order of preference. The lists will be tabulated by the chairman and the winners chosen. A second ballot will be used to break any ties. D. Grading factors and scoring points: a. Readability and interest: Is the article interestingly written? (20 points); Is it understandable to someone who is not a specialist in the field? (10 points); Would you study the article rather than just scan through it? (10 points) b. Numismatic information covered: In your opinion, will the article be used by future students as a refer- ence source? (20 points); Has the author document- ed and cross-referenced his source material? Give credit for original research and depth of study. (20 points); Is the subject a new one, not previously researched, or a rehash? If it presents a new slant on an old subject, give proper credit. (20 points) 4. The Dr. Glenn Jackson Memorial Award will be present- ed if someone qualifies. This award, open to any author in any numismatic publication, is for an outstanding arti- cle about bank note essais, proofs, specimens and the engravers who created them. This award, when present- ed, consists of a certificate, which includes an engraving by American Bank Note Co. 5. The Julian Blanchard Memorial Erhibit Award will be awarded for the outstanding exhibit of bank note essais, proofs and specimens at Memphis, including the possible relationship to stamps. 6. The SPMC Best of Show Award is given for an outstand- ing exhibit in Memphis on any paper money-related sub- ject. v President Frank Clark PAPER MONEY • November/December 1999 • Whole No. 204 171 SPMC Member News •^e State of the a A Message from the President I WOULD LIKE TO WISH EVERYBODY A HAPPY new year as we enter the year 2000. I know many SPMC members have been concerned over the lateness of our bimonthly publication, Paper Money. Your officers received many queries about it during the past six months. I would like to announce that SPMC has a new Editor, Fred L. Reed III. He also serves as SPMC Secretary. This issue of Paper Money is the first issue that he has done, and I know that he will put future issues in the membership's hands in a timely manner. I want to thank Fred for taking on this big job as he strives to get Paper Money back on schedule. There will be six issues of Paper Money dated 1999 and six issues dated 2000. You will get full value for your member- ship and all paid up 1999 members will get a copy of Paper Money Yearbook 2000 issued by BNR Press. This book will be a welcomed edition to any "ragpicker's" library, and a way for the SPMC board to say "Thank you!" to the membership for staying with us. Our previous Editor, Marilyn Reback, has had to resign due to personal reasons. We all wish her well and acknowl- edge that she oversaw the conversion of Paper Money to desk top publishing with the reformatting of ads, features, columns, etc. This was a very big and time consuming job. So, if you have been working on that article about your hometown bank, a newly discovered variety or any other paper money topic, contact Fred Reed. He can even receive your article by e-mail. SPMC does have a web site at http://www.spmc.org that is maintained by our vice president, Wendell Wolka. News will be posted there and also at the rec.collecting.paper-money news group. Also, if you know someone who would like to join SPMC, you can print out an application from the site, or you can write me and I will send you some applications. T THIS POINT, I WANT YOU TO FIND your dues envelope that was included in this issue and write your check for your 2000 dues. The more eople who send in their dues now, the better off SPMC will be, and it cuts down on the Secretary's work. The next Wismer Project book will be on Mississippi Obsoletes by Guy Kraus. All future books published by SPMC will be done on subscription basis as was done for the Kentucky Obsoletes book. So, if you want a book, you will need to order it before the book is printed or purchase it retail from one of the dealers who laid in a stock of our books. We also have a new librarian, Richard Balbaton, and some new books for the library. If you are looking for a particular volume, maybe we have it. We also have bound copies of Paper Money from issue one. I have found it very interesting to go back to the very beginnings of our society and read those early volumes. The 1929 Nationals Project is now being handled by David Hollander. If you have a small size National that is unreported by denomination or bank, he is the one to contact. This is a very worthwhile project that SPMC has been updating since circa 1970. SPMC has a few regional meetings in the works. The first one is at the Chicago Paper Money Show on Saturday February 19th. Judith Murphy has lined up Judith Kagin to talk about "Growing Up In a Numismatic Family." There will also be a regional meeting in Houston at the Texas Numismatic Association show on May 13th. And of course, there will be the national meeting at the International Paper Money Show in Memphis on June 17th. If you can, please attend these meetings. Your officers look forward to meeting you and you can also meet other collectors who have similar interests. The Society of Paper Money Collectors is in very good health despite what you might have heard. Thank you for your patience as we changed Editors. Also, all addresses for the officers listed above can be found at the beginning of this issue. I also want to thank all of the SPMC governors and appointed officers who have helped me in my first few months in office. Finally, I would like to mention members who left us this year and will be missed dearly: Grover Criswell, Ray Ellenbogen, Paul Garland, L.A. Scott and others. The Memphis Coin Club gave SPMC two generous donations in the names of Paul Garland and L.A. Scott. My wish for 2000 is that we all find at least one elusive note that has been avoiding us! Frank Clark November/December 1999 • Whole No. 204 • PAPER MONEY172 Editorial Notes As can be readily seen on Page 157, this issue of Paper Money marks a transition for the Society's maga- zine. I am delighted and honored to be serving as Editor, a role shared with distinguished colleagues who have preceded me. As longtime members of the Society know, SPMC has been blessed with a succession of talented Editors who have collectively made this publication one of the finest periodicals in the numismatic/syngraphic trade, and the rightful recipient of many honors. Past President Bob Cochran reminds me that those who shared the Editor's chair before me include hon- ored scribes such as Hank Bieciuk (8 issues), Barbara Mueller (91 issues), Doug Watson (12 issues), and Gene Hessler (87 issues). I am also following in the shoes of the most recent past Editor, Marilyn Reback, who in her own way made great contributions to this publication's history. A pro- fessional journalist, Marilyn successfully transitioned Paper Money from conventional makeup to desk top lay- out and design during the past year. As anyone familiar with modern day publishing knows, the Society owes her a debt of gratitude for accomplishing this task. Unfortunate circumstances, however, increasingly delayed delivery of this periodical to our membership. Although quality remained high, the uncertain frequen- cy cast a pall over the Society. As one of the principal benefits of SPMC membership, both our members and our advertisers require and deserve to receive their magazine in a timely manner. As I used to remind the editors who worked for me: "timeliness is part of excel- lence, too." The Society has pledged itself to return Paper- Money to its accustomed schedule during the coming months. Readers should expect to see the magazine hit the postal stream within the first 10 days of its bimonth- ly cover date. Many of you know me. For those who don't, I have been a collector for 40 years and a professional journal- ist my whole life. Along the way, I spent six years on the staff of Coin World and 10 years as Vice President of a publishing company. I joined SPMC 25 years ago during Doug Watson's tenure at this helm. Two years ago President Cochran invited me to succeed him as SPMC Secretary. I took office at the next Society annual meeting. Over the past decades, I have authored several books, hundreds of articles and gratefully received the SPMC/Bank Note Reporter Nathan Gold Memorial Award for service to this hobby for my tome, Civil War Encased Stamps: the Issuers and Their Times. I welcome contributions from both past and first- time authors. Afterall, without a steady stream of excel- lent material, this publication is only potential. Together we can restore the luster to our Society's flag- ship, and spread the joy of our paper money hobby. v Fred L. Reed III Call for SPMC Nominations for 2000 The following Society of Paper Money Collectors (SPMC) governors' terms expire in 2000: Mark B. Anderson, Ronald L. Horstman, Judith A. Murphy and Stephen Taylor. If you have suggestions, or if the governors named above wish to run for another term, please notify SPMC President Frank Clark. In addition, candidates may be placed on the ballot in the following manner: (1) A written nominating petition, signed by 10 current members, is submitted. (2) An acceptance letter from the person being nominated is submitted with the petition. Nominating petitions (and accompanying letters) must be received by the President by February 29, 2000. Biographies of the nominees and ballots for the election will be included in the March/April 2000 issue of Paper Money. The ballots will be counted at Memphis and announced at the SPMC general meeting held during the International Paper Money Show. First-time nominees should send a portrait and a brief biography to President Frank Clark. Unless new information is sent for those seeking another term, the same portraits and biographies will be used. PAPER MONEY • November/December 1999 • Whole No. 204 173 NEW MEMBERS MEMBERSHIP DIRECTOR Frank Clark P.O. Box 117060 Carrollton, TX 75011 Members who join after October 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 with a cover date of Nov/Dec of the year in which they joined. Members who join prior to October 1st receive copies of all magazines for the year in which they joined. Dues notices appear in the Nov/Dec issue of the magazine annually. Annual dues should be sent to the SPMC Secretary, Fred L. Reed III, P.O. Box 793941, Dallas, TX 75379-3941. New Members as of July 31, 1999 9831 Walter Fillinsky, P.O. Pox 677, Taylors, SC 29687- (C, I arge) 9832 Joseph Mihalovich, 4349a N 75th St, Milwaukee, WI 53216-1003 (C, large & fractionals) 9833 Richard H. Grabowski (C) 9834 James E. Welch, 1329 Margery Ave, San Leandro, CA 94578-3509 (C) 9835 Arvin Moore, 215 N. Huff Creek Rd, Coalville UT 84017- (C, Utah nationals) 9836 Paul M. Crow, 534 Abbe Rd S, Elyria OH 44035- (C) 9837 Harry C. Schmook, 604 13th Ave, Union Grove, WI 53182- (C, U.S. & obsoletes) 9838 Daniel P. Dvorak, 530 Virginia Ave, Phoenixville, PA 19460-4352 (C, large, fractionals, CSA) 9839 Mbilika Charles, P.O. Box 30310, Lusaka, Zambia (C & D, world) 9840 Louis A. Ferrone, 3625 Richmond Rd, Easton, PA 18040-7214 (C, Easton & South Easton PA currencies) 9841 Scott Simpson, 204 NE 16th Terrace, Fort Lauderdale, FL 33301- (C, web notes & errors) 9842 William Paul Shults, 5595 Federal Blvd Unit D, Denver, CO 80221-6574 (C, U.S. small) 9843 Stuart Tapper, 813-B NW 132nd St, Vancouver, WA 98685- (C & D, U.S. including errors) 9844 M. Tom Mers, 12209 Shadywood Ln, Lakewood, WA 98498-5448 (C, Baltic, Germany, Vietnam, U.S.) 9845 Hal C. Harris (C) 9846 Mark Flapp, R1 Box 74, New Richmond, IN 47967- (C & D, nationals, Gold Certificates) 9847 Steve Strow, 3391S. Hillary Way, Flagstaff, AZ 86001- (C, nationals) 9848 Judd Maher, 2294 Kalinda Dr, Sandy, UT 84092- (C, U.S. small) 9849 Gregory B. Haraway, 8629 Rolling Rock Ln, Dallas, TX 75238-4917 (C, U.S. small, stars, webs) 9850 Paul K. Tanguay, 1716 Wyeth Dr, Guntersville, AL 35976- (C, type notes) • 9851 A. Edward Hatoff, 67 Poplar St, Brooklyn Heights, NY 11201-6951 (C, U.S. large) LM320 William L. Haines, 10326 Old Leo Rd #29, Fort Wayne, IN 46825- (converted from 8533) New Members as of August 31, 1999 9852 Fesus M. Fajardo, 4040 79th Apt C504, Elmhurst, NY 11373- (C & D, world, Columbia) 9853 John L. Palmer, 87 Main St, Hopkinton, MA 01748- (C, U.S., Massachusetts nationals) 9854 Earl Ryan, P.O. Box 396, Mathews, In 46957- (C, nationals) 9855 Bill Stanford, 2113 E. Arapaho, Richardson, TX 75081- (C, U.S. type) 9856 Robert Camp, P.O. Box 1944, Leander, TX 78646- (C & D, U.S. & world paper money & checks) 9857 Frank G. Cover, P.O. Box 249, Dunstable, MA 01827- (C, unusual scrip) 9858 David F. Willsie, 4830 S. 65th St, Lincoln, NE 68516- (C & D, type, Gold Certificates, fractionals) 9859 John 0. Barrett, 11525 Hubbard St, Moreno Valley, CA 92557- (C, CSA, Alabama) 9860 Sam Watson, 419 Falcon Ridge Way, Bolingbrook, IL 60440- (C, fractional, colonial, continental) 9861 Gary E. Lewis, P.O. Box 151391, Cape Coral, FL 33915-1391 (C) 9862 Donald S. Higgins, P.O. Box 530808, Harlingen, TX 78553- (D, Texas obsoletes & nationals) 9863 David W. Boitnott, 8501 Stephenson Rd, Apex, NC 27502- (C, North Carolina obsoletes & state notes) 9864 Gayland R. Stehle, Bank One Tower, 101 Central Plaza So,. Canton, OH 44702- (C, U.S. small) 9865 Rolland Taylor, 820 Geneva Ave Unit A, Huntington Beach, CA 92648- (C, 1918 FRBNs) 9866 Thomas Villella, 151 Douglas Pike #7, Smithfield, RI 02917- (C, large & small) 9867 Thomas W. McAnaney, 21 Tallman St, Oswego, NY 13126- (C, fractionals, large & small, local nationals) 9868 Doug Simonson, 717 S. 5th Ave, Wausau, WI 54401- (C, obsoletes, CSA, U.S.) 9869 Taz A. Thomas, 4950 Willow, Bellaire, TX 77401- (C, pre-1928, errors, Texas nationals) 9870 Richard Hammond, 39 Imperial Dr, Selden, NY 11784- (C, U.S. & Canada) 9871 George Rose, 11 Orchardview Dr, Sewell, NJ 08080- (C, U.S.) LM 321 Francis Loo, P.O. Box 3438, Honolulu, HI 96801- 3438 (D) New Members as of September 30, 1999 9872 Gerald Pihuliak, 145 Whittier Ave, Syracuse, NY 13204-2638 (C, CSA, New York obsoletes) 9873 Ben L. Pauley, 10336 Breconshire Rd, Ellicott City, MD 21042- (C) 9874 Stuart Packard, 1151 Peveril Rd, Bloomfield Hills, MI 48304- (C, obsoletes, U.S.) 9875 Thomas Wood (C) 9876 Stephen Sachs, 11906 Bristol Manor Ct, N. Bethesda, MD 20852- (C, 1899 Silver Certificates) 9877 Ann Elizabeth Adams, 414 Welsted St, Napoleon, OH 43545- (C, general & world) 9878 Darwin Bontrager, 405 N. Wabash #309, Chicago, IL 60611- (C) 174 November/December 1999 • Whole No. 204 • PAPER MONEY 9879 Randy Mogren, 8 Gould St, Millbury, MA 01527- (C & New Members as of November 30, 1999 D) 9908 Solomon Magnus, 102-10 66th Rd, Forest Hills, NY 9880 Frank Lucenti, 305 Adams St, Rome, NY 13440- (D) 11375- (C, small & large) 9881 Joseph S. Vitale Jr., 157 N. 15th St, Bloomfield, NJ 9909 Buddy Andrews, 635 County Road 1560, Cullman, AL 07003- (C, U.S.) 35058-1436 (C & D, CSA, Civil War era documents) 9882 Edward J. Galligan, 9 Morrissey Ln, Bridgewater, CT 9910 Robert Weinstein, 502 Tideway Dr, Alameda, CA 06752- (C, large & fractionals) 94501-3600 (C, U.S.) 9883 James M. Techeira, P.O. Box 117729, burlingame, ca 9911 James T. Barker, 7560 Buehler Rd SW, Stonecreek, 94011- (C, small & gold notes) OH 43840- (C, large) New Members as of October 31, 1999 9912 Larry Hastie, 102 Summer Breeze Dr, Laporte, TX 9884 Joseph Frank Harper, P.O. Box 624, Marion, MS 77571- (C, France & French colonies) 39342-0624 (C) 9913 Patrick G. Ulik, 716 SE 47th Terrace, Cape Coral, FL 9885 Walter H. Gladwin, 178 Beechwood Ave, Mt. Vernon, 33904- (C, small) NY 10553- (C, nationals, obsoletes, Silver Certificates) 9914 Robert Collins, 926 W Yale Ave, Fresno, CA 93705- 9886 John Lampkins, 62 Webster Ave, Glens Falls, NY 4952 (C) 12801- (C, U.S.) 9915 Karl R. Weathers, 741 Sadie Ct, Lansing, MI 48906- 9887 Robert J. Klees, 4620 E. St. Bernard Hwy, Meraux, LA 3925 (C, all) 70075- (C, Louisiana & Mississippi obsoletes) 9916 Vincent Cavo, P.O. Box 164, Ashville, OH 43103-0164 9888 R.E. Sten, 160 Roswell Farms Cr, Roswell, GA 30075- (C & D, large) (C, FRNs) 9917 Mason Matschke, 125 S Wacker Suite 2600, Chicago, 9889 Steve Kawalec, P.O. Box 4281, Clifton, NJ 07012- (C, IL 60606- (C) obsoletes & Colonials) 9918 Mike Krause, Rt 2 Box 141, St. Charles, MN 55972- 9890 Robert Meek, P.O. Box 505, Jacksboro, TX 76458- (C, 9752 (C, large & Minnesota obsoletes) nationals) 9920 Cliff Thompson, General Delivery, Pawley's Island, SC 9891 Paul Hendry II, P.O. Box 137436, Ft. Worth, TX 29585- (C, large, fractionals) 76135- (C, U.S. large, Texas nationals, fractionals) 9921 James Tabbi Burke, 120 Cresent St, Waltham, MA 9892 Alan W. Butler, 1010 Leadenhall St, Alpharetta, GA 02453- (C) 30022-6278 (C) 9922 Tom Montgomery (C) 9893 Richard P. Crone, 222 Olde Orchard Ln, Shelburne, 9923 Thomas R. Harrison, 4838 Andrea Ct, Livermore, CA VT 05482- (C, colonials) 94550-7200 (C, Ghana, Ethiopia & U.S. $1 notes) 9894 Thomas McLeod, 1833 115th Ave NE, Bellevue, WA New Members as of December 31, 1999 98004- (C & D, small) 9924 Dave Johnson, 6868 Senippa Rd, Rockford, IL 61102- 9895 Robert Kane Jr, 111 Stavola Rd, Middletown, NJ 4309 (C & D) 07748-3736 (C, Series 1902 & 1929 nationals) 9925 Gary Lybeck, P.O. Box 3157, Minot, ND 58702-3157 9896 Dale H. Reubish, P.O. Box 82123, Kenmore, WA (C) 98028- (C & D, large size type) 9926 Douglas Hand, P.O. Box 183, Farmington, ME 04938- 9897 Norman Waxman, 1983 Marcus Ave, Lake Success, NY (C, nationals) 11042-1016 (C, U.S.) 9927 David Riddell, 7695 S. Pacific Hwy, Monmouth, OR 9898 Daniel Venable, 1955 E Villa Theresa Dr, Phoenix, AZ 97361-9787 (C) 85022- (C, U.S.) 9928 Vince Malone, 6410 Tabor Rd, Philadelphia, PA 9899 Robert F. Brown,726 Williams St, Clearfield, PA 19111- (C, U.S.) 16830-2964 (C, nationals) 9929 Jose Bendayan MD (C) 9900 Paul Burkhard, P.O. Box 920, Laporte, CO 80535- (C, 9930 Evan Dewire, 6025 Regents Park Rd, Centreville, VA fractionals) 20120-1829 (C, general) 9901 Neil M. Nelson 320 Treeline Rd, Terre Haute, IN 9931 Douglass Boshkoff, 3333 S Spring Branch Rd, bloom- 47802- (C) ington, in 47401- (C, Indiana nationals) 9902 Paul E .Boucher, 4800 Quantico Ln, North Plymouth, 9932 Jeff Tanner, P.O. Box 2265, Sedona, AZ 86339- (C & MN 55446- (C) D) 9903 James M. Cross, 3355 Wende Rd, Alden, NY 14004- (C 9933 Robert M. Jones, 540 9th St, Brooklyn, NY 11215- (C, & D, U.S.) small, German & Austrian notgeld) 9904 Charlie Elebash, 955 Coleman St, Montgomery, AL 9934 Roger Worpell, 6131 Silver Arrows Way, Columbia, 36106- (C, large) MD 21045- (C) 9905 Albert Aldham, 1660 Hemlock Farms, Hawley, PA 9935 Mark D. Ward, 2 Tudor Ln, Yardley, PA 19067- (C, 18428- (C, revenue stamped checks) U.S.) 9906 Lawrence Sypher, 22 Butter Jones Rd, Chester, CT 9936 James Seabridge, 17438 Ardmore Ave Apt-C, 06412- (C & D, large) Bellflower, CA 90706-6633 (C, U.S.) 9907 Bard Dunkelberger, 86 Oman Dr, Oroville, CA 95966- 9937 Michael Weiss, 211 Austin Rd, Mahopac, NY 10541- (C, Indiana currency) 4813 (C & D, FRN Red Seals, Gold Certificates, star notes) PAPER MONEY • November/December 1999 • Whole No. 204 175 SPMC Annual Board Meeting Marriott Hotel, Memphis, TN June 19, 1999 President Bob Cochran called the meeting to order at approximately 8 a.m. Those in attendance included the officers: President Bob Cochran, Vice President Frank Clark, Treasurer Mark Anderson, and Governors and Committee Chairmen: Dick Balbaton, Gene Hessler, Steve Taylor, Judith Murphy, C. John Ferreri, Ron Horstman, Roger H. Durand, Arri Jacob, David Hollander, Bob Schreiner, Wendell Wolka, and SPMC Secretary Fred Reed. The President welcomed new board members Arri Jacob and Bob Schreiner. President Cochran introduced new 1929 Nationals Project Chairman, David Hollander. Secretary gave his report. Highlights include: Total membership (as ofJune 15): 1697 members, of which 1392 are annual members, 293 are life members, and the remainder are honorary or complimentary members. Due to be dropped for non-payment of dues were 233 individuals. Net increase over the year previous was 27 members (subject to additional renewals). The Society is represented in 20 countries. Recently, magazines sent to wartorn central Europe have been returned as "Undeliverable." Geographical distribution of members is dominated by the large population states, headed by California and New York. The Secretary reported several hundred contacts, mostly from members regarding dues payments, non-receipt of the journal or membership status. Contacts from non-members included membership inquiries and general currency ques- tions. Treasurer Anderson gave his report (copies to be circu- lated by Treasurer). "We're in better shape cash-wise than last year," Mark reported. Highlights include approximately $33,000 revenue for the year; current assets of approximately $199,000 (up $9,000 over previous year). The Society netted approximately $2,100 in additional funds for subsidizing the Kentucky book through its appeal to purchasers. Treasurer reported cost of $29.46/member to run the Society. Membership Director Frank Clark reported a total of 262 new members during the year June 9, 1998, to May 31, 1998. The Internet Web Site is proving to be a magnet for the Society. It was responsible for 43 new members. A tight bat- tle among dealers occurred for honors as top individual recruiter. Frank Viskup with 40 edged Tom Denly with 36. Other outstanding individual recruiters included Crutch Williams (13), Judith Murphy (11), Bob Cochran (7) and the membership director (17). Twenty-five other individuals and two publications also assisted the recruitment of new mem- bers. Discussion ensued whether $24 cost was a limiting factor for new members. Considering a net gain on membership rolls, it was suggested that this was not the case. Discussion of annual membership cards developed. These cards were discontinued several years ago when the Society determined the cards were not functional and supplies of the American Bank Note Co. produced, engraved cards were dwindling. President suggested that an undated, plastic universal card for continuing membership would be looked into. Editor Marilyn Reback was unable to attend. She filed her report via fax to the President. Highlights are: (1) publi- cation of the 200th issue of Paper Money during the year; (2) conversion of production to desktop publishing; (3) reformat- ting ads, features and columns; (4) creation of an advertisers' index and inclusion of several new advertisers, and (5) receipt of articles from first-time as well as renowned authors. "Not many clubs can claim a journal with that longevity, and few have maintained the consistent quality that Paper Money has shown over the years. The SPMC can be proud of its publication," it new editor said. The new editor was praised by several attendees for the quality of the journal. A lively discussion of the timeliness of the society journal, Paper Money, ensued. The tardiness of recent issues had created much concern among the member- ship expressed in communications with several of the officers. Discussion of accountability for advertising revenue led to the selection of outgoing President Bob Cochran as advertising manager. "Wismer Update: Steve Whitfield has undertaken a first edit of Guy Kraus' Mississippi volume. This immense project numbers 418 pages without illustrations. Wendell Wolka reported that he has agreed to head up the Ohio book. His target for publishing the book is 2003, Ohio's Bicentennial. Thus far, more than 50,000 individual notes have been censused by serial numbers. The census thus far has included all major museums, major private collections and dealer inventories. More than 5,200 different notes have been cataloged, and Wendell expects the total by publication may well be 7,000+ varieties. A Georgia manuscript has been submitted for considera- tion. New Librarian Dick Balbaton reported progress on set- ting up the library after taking over the chores from Roger Durand. Wendell reported that the Society web site (http://www.spmc.org) had more than 10,000 hits last year, translating to approximately 30/day. Awards chairman Wolka reported positive feedback on the switch to beer mugs for society awards. Judith Murphy reported on regional events, including FUN, Blue Ridge, ANA and Strasburg. Speakers have/or/will include Ron Benes on Colonials, Dick Doty, and Larry Felix. Also on tap are Benny Bolin on Encased Stamps at Dallas in August, and five speakers slated for the North Carolina state show. Last year's event at Chapel Hill, partially underwritten by the Society, drew attendance of 70 persons. As in the past, the possibility of videotaping such presentations and adding the tapes to the Society Library was endorsed. The possibility of joint meetings with the California National Currency Collectors group at Long Beach shows was also discussed. The California group's meetings are held on Thursday afternoons. The new 1929 National Currency Project director David Hollander reported his first priority is to get a baseline estab- 176 November/December 1999 • Whole No. 204 • PAPER MONEY fished by putting all entries into an Excel database. Judith reported a sell-out of 100 tickets to the SPMC breakfast held the previous morning. The treasurer said he expected the event to show a small profit, indicating that the profit from the previous year's fete had been $759. The agenda then moved to election of officers: Judith nominated Frank Clark for President. Mark Anderson seconded. The vote was unanimous. Steve Taylor nominated Wendell Wolka for Vice President. Gene Hessler seconded (this nomination having occurred earlier prior to Wendell's departure). Thereupon, Gene moved nominations be closed for VP. Seconded by John Ferreri. The vote in favor of Wendell was unanimous. Frank Clark nominated Fred Reed as Secretary. Seconded by Judith Murphy. Vote was unanimous. Judith nominated Mark Anderson as Treasurer. Seconded by Gene Hessler. Vote was unanimous. New Directors elected were: Bob Schreiner to take the place of Ray Ellenbogen. Arri Jacob to take the place of Tim Kyzivat. There being no further business, the meeting was adjourned at approximately 9:45 so those in attendance could attend the annual general meeting of the Society. Respectfully submitted, Fred Reed Secretary SPMC Annual Membership Meeting Marriott Hotel, Memphis, TN June 19, 1999 Meeting was called to order at 10 a.m. by new Society President Frank Clark. Approximately 60 members, guests and press were in attendance. President Clark reported to the membership on the sta- tus of the Society, calling the organization financially sound with a slight increase of about 30 members over the previous year. The members were also apprised on the status of the various committees. Awards chairman Wendell Wolka presented Society accolades and commemorative beer steins to the following: Literary Awards for articles published in Paper Money: 1st Kevin Lafond for "John Davenport and His Merchant Scrip" 2nd Forrest Daniel for "Post Check Notes-Double Duty Convertible Currency" 3rd Dave Grant for "A Survey of the Bank of Latvia Bank Note Issues During the 1920s" The Nathan Gold Memorial Award, a lifetime achieve- ment honor, was presented to Milt Friedberg in recognition of his years of contributions to the collecting of Postage and Fractional Currency. Awards of Merit went to Earl Hughes (author of the Kentucky book), Judith Murphy (for supervising regional pro- grams), Glen Johnson (for establishing the society web site), and Lyn Knight and Frank Levitan (for the generous donation to the Society of $3,500 from proceeds of the special edition of the Levitan auction sales catalog). The top recruiter award and cash prize of $100 went to Frank Viskup. The Dr. Glenn Jackson Memorial Award for a published article on areas of Dr. Jackson's interests, i.e. die proofs and specimens, was awarded Walter D. Allan for "A Pictorial Review of the Canadian Bank Note Co." published in the Canadian Paper Money Journal. The Julian Blanchard exhibit award for a display of proofs/vignettes was won again by Mark Tomasko. The SPMC Best in Show Award was gleaned by the excellent exhibit of Tom O'Mara on Postage and Fractional Currency Inverts. Editor David Harper presented the Bank Note Reporter "Most Inspirational" award for an exhibit which would excite a newcomer or a novice with a casual interest in currency to begin collecting. Honored was Dennis Shaflutzel for his dis- play of Greeley, CO National Bank Notes and History. Jim Hughes, of the Smithsonian, then presented an illus- trated talk on "Your National Numismatic Collection." The speaker noted that 1996 marked the sesquicentennial of the museum. In the 1830s when the Museum was founded there was less than one silver coin per person in the United States, Hughes said. The Smithsonian's holdings are immense. He compli- mented the curatorship of the Clain-Stefanellis, who have increased the National Numismatic Collection from 65,000 to 850,000 items during their stewardship. Currently approxi- mately 7,500 numismatic items are on display. Hughes called that number a tiny fraction of one-percent of the total collec- tion. While many famous specimens from the collection were shown on slides, Hughes concentrated on the syngraphic aspects of the collection. Among the several thousand foreign notes, Hughes displayed early Ming and European notes. He called the 18th Century the "paper century" due to the short- age of coins experienced in the British colonies. He noted that currency collecting at the Smithsonian began in earnest in the 1960s. Significant events included the Spring 1978 paper money transfer from the Treasury Department and large transfers from the Bureau of Engraving and Printing of certified proofs during the period 1966-1980. During that period 300,000 certified proof impressions (minus color overprinting of Treasury Seal, bank charter and Serial numbers) represented 50,000 National Bank Notes. The meeting was adjourned at approximately 11:15 a.m. Respectfully submitted, Fred Reed SPMC Secretary SPMC Board Meeting Henry VIII Hotel, St. Louis, MO October 23, 1999 President Frank Clark called the meeting to order at approximately 11 a.m. Those in attendance included President Frank Clark, Board Members Gene Hessler, Ron Horstman, Judith PAPER MONEY • November/December 1999 • Whole No. 204 177 Murphy, Steve Whitfield, Past President Bob Cochran, Secretary Fred Reed, and member John Wilson. Minutes of the June annual board meeting in Memphis were accepted. The President introduced Fred Schwan of BNR Press. Schwan described his upcoming project titled Paper Money Yearbook 2000, a hard cover book with numerous research articles, paper money advertisements, and a currency collect- ing planning calendar. The calendar would include dates of upcoming paper money shows and SPMC regional meetings. This 256-page yearbook is scheduled for January 2000 release at the FUN Convention. Schwan said the book would be edited by Carlson Chambliss, and include articles by noted paper money writers such as Gene Hessler, Wendell Wolka and Allen Mincho, among others. "Basically all are original feature articles," the publisher said. Schwan offered to produce a special edition of the year- book with SPMC's name and/or logo on the cover for distrib- ution to the society's membership. Cost to the society would be $3/yearbook plus postage. His proposal was that the soci- ety buy every member a copy and distribute it as an "unan- nounced benefit of membership." Shipping could be under- taken by the yearbook publisher or a bulk quantity could be shipped to Dover Litho, the society's printer, for distribution to the membership, he said. Schwan answered questions and departed, after which the board discussed the matter. Estimated cost of the offering was gauged at $5/member, or approximately $9,000. Due to the lack of timeliness of the society's magazine, Paper Money, Ron Horstman moved that the society accept Schwan's proposal, take the money out of the Publication Fund, and send the yearbooks to the membership in lieu of a magazine. The motion was amended to permit the society to furnish a current mailing list to the printer for distribution of the books. After further discussion, the motion passed unanimously, with the society President Frank Clark to determine the details. Discussion then turned to Paper Money, itself. To date only three issues of Paper Money had been released this year. Many members were rightfully upset and had expressed them- selves on the matter to society officers. Various board mem- bers indicated extreme displeasure with the erratic publication of our bimonthly magazine. The President in particular reported a complete lack of responsiveness to his repeated inquiries on the part of the editor. Various remedies such as publishing an index in lieu of a PM issue or combining issues were also discussed. The option of naming a new editor was also addressed briefly by the Past President. The Secretary reported numerous contacts from members wanting to know why their magazines were months late. Board members sug- gested a contract with the editor instead of a handshake agree- ment and/or creating an oversight Board of Publication. In the end, President Clark indicated that he would attempt to resolve the difficulty with the present editor. Under old business, the President reported that the Treasurer had not yet circulated the promised written annual financial report which he had not had available for board members at the annual Memphis meeting this past summer. Clark also reported that Peter Huntoon has been paid for his Nationals book, and Lawrence Falater has agreed to pay the society $750/month until his obligation to the society for the book inventory is retired. Under new business, Past President and advertising man- ager Bob Cochran reported being contacted by new advertis- ers who desire to appear in Paper Money, but we must have a regular magazine for that to happen. Membership Director Frank Clark reported that he had issued member number 9900 shortly before leaving for the St. Louis show. Clark's report showed 97 new members since June 1 and two new life members during that same time. Candidates for the top current year's recruiter include dealers Tom Denly and Frank Viskup, membership chairman Frank Clark, and the SPMC Internet site. Wismer Project chairman Steve Whitfield reported that 430 pages of text and 2,000 illustrations are done for Guy Kraus' Mississippi book. Whitfield added that Wendell Wolka is making good progress on the Ohio book, with thou- sands of listings and a publication goal of 2002. Whitfield, himself, is working on a Kansas update, but indicated that the project may be more suitable to private publication than SPMC sponsorship. Regional Coordinator Judith Murphy reported Bob Bolduc's presentation at Strasburg on "Scanning Your Collection" was so successful that he will repeat the talk at FUN in January. Ron Horstman's presentation later in the day on St. Louis Depression scrip of 1933 will complete the calendar year's presentations, she noted. Judith also presented a Internet web proposal from Numismatists Online to create a special SPMC section, which was tabled after discussion, to be referred to society webmeis- ter Wolka for further study. Judith also communicated a proposal from SPA/IC mem- ber Robert Neale requesting the society to loan him funds toward the publication of his book on the Bank of Cape Fear. "My objective in this project has been to make a contribution to numismatics and North Carolina history," its author wrote to Murphy. Discussion ranged to the advisability of both loans and grants to worthwhile currency publishing efforts. The Secretary noted that ANA had awarded him a large, unrestricted research grant years ago which had been instru- mental in the preparation of his award-winning book on encased postage stamps, and he suggested that SP/VIC might possibly undertake annual awards for worthy publishing pro- jects. After additional discussion including the possibility of offering SPMC members a pre-publication price, Ron Horstman moved that the society loan Mr. Neale $500 inter- est free toward the publication of his book, these monies to be returned to the society if the project does not reach fruition, or repaid out of revenues from the venture. This was second- ed by Gene Hessler and passed unanimously. In other new business the society will continue to have an adjoining table with PCDA at the annual Memphis show. President Clark noted that Paper Money, edited by Gene Hessler, had received the outstanding club publication award at last summer's ANA convention. Governors discussed the proposed Paper Money index November/December 1999 • Whole No, 204 • PAPER MONEY178 update by George Tremmel and decided that the published index should be comprehensive since many members have joined since the earlier index was compiled. Other discussion included the advisability of reprinting articles from early issues of Paper Money and the difficulty with obtaining proper illustrations for such a venture. President Clark then noted that Past President Judith Murphy had been voted an Honorary Life Membership at the recent Memphis meeting, which he would award her at the membership meeting to follow. There being no further business, the meeting was adjourned at approximately 12:30. Respectfully submitted, Fred Reed SPMC Secretary SPMC Membership Meeting Henry VIII Hotel, St. Louis, MO October 23, 1999 The Society's general meeting was called to order by President Frank Clark at 1 p.m. with approximately 20 mem- bers and guests present. President Clark asked for a moment of silence for depart- ed members L. A. Scott, Paul Garland, Grover Criswell and Ray Ellenbogen. The President then presented Past President Judith Murphy with her Honorary Life Membership plaque and commended her for her many years of devoted service to the society. Clark reported in general on the earlier board meeting, noting specifically that member number 9900 had been issued and that the board had discussed remedying the problem of the tardiness of the society magazine. Clark then introduced board member Ron Horstman who presented an excellent, illustrated talk on St. Louis Depression Scrip of 1933. This subject was a companion to Horstman's discussion of St. Louis Depression Scrip of 1907, which he had delivered at last year's St. Louis show. The 1933 scrip was prepared after FDR had called for a banking holiday, but went unissued when commerce returned to normal. Horstman illustrated examples of this rare emer- gency currency, including perhaps the only remaining sheet. These items were also displayed during the course of the show at the entrance to the bourse. Respectfully submitted, Fred Reed SPMC Secretary Counterfeiters Arrested ‘,4i ITTSBURG, PA., JULY 23.-TWO DANGEROUS Jr counterfeiters were arrested this afternoon while attempting to swindle an old man. The counterfeiters had in their possession $45,000 in spurious greenbacks and a large number of dies for quarters and half dollars. The queer shovers are strangers here, but it is thought that they belong to the gang that has recently been flooding the country with counter- feit money. "They are both young men, apparently not over 25 years and were well dressed. One of them offered Detective Coulson, the arresting officer, $8,000 to let him go. They are now in the central station and will be examined by United States Commissioner McCandless this afternoon. "The old man, who was in their clutches, was also arrest- ed, and it is expected that he will tell an interesting story."—The Centralia (Wis.) Enterprise and Tribune, July 28, 1888. Immense Counterfeiting Operations 1-• INDIANAPOLIS, NOVEMBER 3.-JAMES McLean, cashier of the Boone County Bank, at Lebanon, Ind., J. B. Hussey, Albert H. Hager, Miles A. Bridley, and J. D. Chapman, all connected with the same institution, were arrested here to-day, charged with forgery and circulating money fraudu- lently issued on the Boone County Bank. They all waived examination and were committed to jail in default of $5,000 bail each. "It is supposed these parties have circulated from $300,000 to $400,000 of counterfeit bills on the above bank in Indiana, Illinois, Iowa and Missouri. $45,000 of genuine notes were issued by the Auditor of State. The spurious and genuine notes are from the same plate, Auditor and Register's names coun- terfeited on the former. "A. Spooner, President of the Bank, made his escape from this city at one o'clock this morning. About $100,000 of the counterfeit money has already been received by our bankers from their correspon- dents in the West. Several hundred dollars of the spurious bills were redeemed at the bank yesterday." 1 1 MI LASW4.°"1 Ig 11§ ''41k 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 LM 114—PCDA—LM ANA Since 1976 THE FIAT NATICIfill lAAA Om SILFEUR te,v_ot. 0000179A FIVE DOLLARS C000179A PAPER MONEY • November/Decemberl 999 • Whole No. 204 179 EARLY AMERICAN NUMISMATICS • 619-273-3566 We maintain the LARGEST ACTIVE INVENTORY IN THE WORLD! COLONIAL & CONTINENTAL CURRENCY SEND US YOUR WANT LISTS. FREE PRICE LISTS AVAILABLE. SERVICES: q Colonial Coins 1:1 Colonial Currency q Rare & Choice Type Currency q Pre-1800 Fiscal Paper q Encased Postage Stamps SERVICES: q Portfolio Development q Major Show Coverage q Auction Attendance EARLY AMERICAN NUMISMATICS c/o Dana Linett P.O. Box 2442 • LaJolla, CA 92038 619-273-3566 Members: Life ANA, CSNA, EAC, SPMC, FUN ANACS DO YOU COLLECT FISCAL PAPER? The American Society of Check Collectors publishes a quarterly journal for members. Visit our website at http://members.aol.com/asccinfo or write to Coleman Leifer, POB 577, Garrett Park, MD 20896. Dues are $10 per year for US residents, $12 for Canadian and Mexican residents, and $18 for those in foreign locations. Always Wanted Monmouth County, New Jersey Obsoletes — Nationals — Scrip Histories and Memorabilia Allenhnrst — Allentown —Asbury Park — Atlantic Highlands — Belmar Bradley Beach — Eatontown — Englishtown — 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 ;AMP 411.1 CAMP HILL FT, MS VI, A NIA E 1)01.1, V10.4 specializing in Poland, Russia & E. Europe visit us: http://www.atsnotes.com ats@atsnotes.com Buy & Sell Free Price List Tom Sluszkiewicz P.O. Box 54521, Middlegate Postal BURNABY, B.C., CANADA, V5E 4J6 WORLD PAPER MONEY r I I I I I 180 November/December 1999 • Whole No. 204 • PAPER MONEY Buying & Selling National Bank Notes, Uncut Sheets, Proofs, No. 1 Notes, Gold Certificates, Large-Size Type Error Notes, Star Notes. Commercial Coin Co. P.O. Box 607 Camp Hill, PA 17001 Phone 717-737-8981 Life Member ANA 639 OBSOLETE NOTES Also CSA, 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, Key Largo, FL 33037 FAX or Phone (305) 853-0105 luktfOigiti,) ..0';.1-""41-4441-0 -V.r 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 1,.zi.MYEWOratf*44:"Fel..W'- William Youngerman, Inc. Rare Coins & Currency "Since 1967" P.O. Box 177, Boca Raton, FL 33429-0177 L r U.S. Paper Money Guide and Handbook Carlson R. Chambliss PAPER MONEY • November/December 1999 • Whole No. 204 181 Recent Additions to SPMC Library Reviewed by Frank Clark I WOULD LIKE TO REVIEW THREE NEW books that are now part of the Society of Paper Money Collectors' library. The first book is the U.S. Paper Money Guide and Handbook by Carlson Chambliss and is available from BNR Press, 132 East Second St., Port Clinton, Ohio 43452-1115. This is a book for the experienced collector as well as the neophyte in the paper money hobby. It is writ- ten by a collector who has amassed a large collection of U.S. paper money. If you are collecting an area in this interesting field or are thinking about going into another area of the U.S. paper money hobby, this book will certainly help you and point you in the right direction. There are many hints, and suggestions to avoid pratfalls, as well as information to enhance one's own collection. Grading is discussed, recent auction prices are given as well as a guide for notes in three grades of preservation: Fine, Extra Fine and Uncirculated. All areas of U.S. paper money from the 1860s to the present are covered. There are also chapters on Military Payment Certificates, errors, fancy serial number notes, paper money in sheets, altered and counterfeit notes, non-feder- al paper money (colonial, conti- nental, state bank notes, Confederate, etc.), and other types of fiscal paper (souvenir cards, test notes, stock certifi- cates, checks, bonds, food coupons). Paper money auction houses are listed as well as some dealers. The book also includes a review of the paper money shows as well as a listing of paper money soci- eties. Storage and care of paper money is also discussed. So is selling your collection and an annotated bibliography. There is also much more in this 480 page book and is a worthwhile addi- tion to any paper money library. The second book is Gregor MacGregor, Cazique of Poyais, 1786 - 1845 by Richard T. Gregg, President of the International Bond and Share Society. It is available from him at P.O. Box 430, Hackensack, NJ 07602. This book discusses the exploits of General Sir Gregor MacGregor, who fought the Spanish in Florida and on the Isthmus of Panama before obtaining a land grant from the Central American King of the Mosquito Indians. He then sold land grants based on his holdings. MacGregor also sold four bond issues in the London financial market and defaulted on each and every one! He issued these securities, plus paper currency and a medallion for his Florida venture so there is a numis- matic bent to this intriguing story. This 28-page booklet brings this colorful rogue to life. The third book is The Monetary History of the Baltic States with a Detailed Catalog of Currency Notes by V. Marcilger. This book is available from him for $40 in U.S. currency or the equivalent in any western curren- cy at Linden Strasse 39, 81545 Munich, Germany. This is a very nice book and if you collect this corner of the world, you owe it to yourself to add this book to your library. Marcilger has written a 370-page softbound book in English, which is a limited run due to the fact that the author is publishing the book himself. The book covers all the monetary aspects of the Baltic States of Estonia, Latvia and Lithuania from 1914 through 1999. Each chapter consists of two parts. First the author details historical back- ground in order to make the vari- ety of notes understandable. Then he provides a detailed catalog with a description and illustration of each note. The " P " (Pick) num- bers of the Standard Catalog of World Paper Money are used with the permission of Krause Publi- cations, but the numbers are extended by supplementary num- bers where applicable. There are also several maps that are very helpful and you learn that there were many wars in this area of the world, not just World Wars I and II. Specimen notes of the Baltic States are also discussed, along with Russian and later Soviet occupation notes, as well as notes of the two German occupa- tions. These notes are also pic- tured. The author also provides a value guide with notes of Estonia, Latvia and Lithuania valued in three grades: Very Good, Very Fine and Uncirculated. Pictures of the notes are photocopies, but serve their purpose well because the author makes this field understandable to his readers. v .7C1. P.oraptie...— V erma 2 OF RETURNS FON UNITED 6TATES colnipleY ft011".741iA. Treasurg pcpartrixeu OPFIOID OF .Ht fltEASUril,At OP TOS eterVedr.tr, - Currenit foranErdr, by you f r red, roption, tavued !mar if-Jan The foliciebse O■ rragoq eh , "nd 41,c tke,rtruir of 'No Froverla, of a mat-Hance — prryeLln to ;int, onler,InciCsunt heVowlel, Ihat city Ior yoncer,drt Unlbul States Currency formirdnd to you thia day bye:pr., 'with ivtar4 Eaptvrx I ' dunes deducted • Daiwa Stator Curn2nu to ba forwarded to you thia , ,lor by trgistra,d 32..11 BnImitliary Silver Coin forwarded to you by exproce, NAG}, (ho ex' Lr 0,1 ebaruva'peut by the Government 13Landard Filvts- Dollars to bo foryvarded to you nillt tbo onproanclargna iditl by Sit0 Cluverznasnt Ileinorilled toynnr credit in generninceoimt na.■ tran,.!■ref tuntla NatJonal Bonk lb.twinnIncled la yottrrentittanze, b , la• pronattely accounted for I, odu roam, bmad c n Itejoetul and retnruod l,,,rewItit.antnALICate21.4-767..-00 Tie 'Or 7/0"(.1 . Worthiest, truculent, rejcatod end returbv1 burewith Moment on neOVILni of mining flugLosn* nr nnproli• srly rvlrbal norm oxpreen ebnren,,, withhold - -- Short by insonbary (copy incicued herewith) Short by coot (Wisp rettulaal Lnrowith) Over by inventory (ropy inclosed here with) Over bq con, (strop roturned /Aso:NMI) Amount claimed by you cm wrapper nt pokikage Respsottgal y , TrAlderaccklia— Ur9A w Trt nr,3- 17 182 November/December 1999 • Whole No. 204 • PAPER MONEY A Pe di• BY FORREST W. DANIEL The face of the note certified to be genuine. According to its owner, it is one "dog" of a note. 0 FTIMES IT OCCURS THAT THE pedigree is more valuable than the dog it accompanies; and that situation is not always confined to the canine species. The case in point includes a $2 United States Note. This $2 legal tender note of the 1862 Series has the American Bank Note Company imprint in the left bor- der. It was worn, ragged and far from white when dabs of paste were smeared on its corners and it was placed in a scrapbook. Of whom and when it became a souvenir cannot be determined with certainty since it appears with a document addressed to a banker. In 1908 the bill was removed from its resting place; its corners, where the paste peeled off some of the ink, and rough edges were reinforced with library tape and it emerged from hiding. The note came to the Carver County State Bank at Chaska, Minnesota; and K. K. Klammer sent the note to the office of the Treasurer of the United States possibly for identification, possibly for redemption. Identification and authentication is the more likely choice since it was returned certified as a "Genuine two dollar U. S. Note." It says so right on the certificate. The printed form, dated June 24, 1908, includes several possible replies related to the disposition of notes sent to the Treasury Department for redemption. While most of the items relate to shipments of notes made by banks, the ones of greatest interest to bank note collectors are: "Counterfeits, branded and returned herewith." (Amount.) Thus, it appears it was lawful to hold coun- terfeit notes if they were clearly marked as such. "Rejected and returned herewith." ''Genuine two dollar U. S. Note," is written over the amount column but the specific note is not identified. "Worthless fragments, rejected and returned here- with." (Amount.) PAPER MONEY • November/December 1999 • Whole No. 204 183 The reverse of the note certified to be genuine. Note the paste and tape damage in the corners. "Discount on account of missing fragments or improperly pieced notes." (Amount.) The cynic may wonder if the dog is actually the note certified genuine by the Treasurer of the United States, or a ringer substituted by some unscrupulous PAPER MONEY will accept classified advertising—from members only—on a basis of 15e per word, with a minimum charge of S3.75. The primary purpose of the ads is to assist members in exchanging, buying, selling or locating special- ized material and disposing of duplicates. Copy must be non-commercial in nature. Copy must he legibly printed or typed, accompanied by prepayment made payable to "Society of Paper Money Collectors," and reach Editor Fred Reed, P.O. Box 793941, Dallas, TX 75379, by the first of the month preceding the month of issue (i.e., Dec. 1 for Jan./Feb. issue). Word count: Name and address count as five words. All other words and abbreviations, figure combinations and initials count as separate words. No check copies. 10% discount for four or more insertions of the same copy. STOCKS & BONDS wanted! All types purchased including rail- road, mining, oil, zoos, aviation. Frank Hammelbacher, Box 660077, Flushing, NY 11366. 718-380-4009; fax 718-380-4009) or E-mail (norrico@compuserve.com). (205) STOCK CERTIFICATES, BONDS, 40-page list for two 32c stamps. 50 different $25; three lots $60. 15 different railroads, most picturing trains $26, three lots $63. Clinton Hollins, Box 112, Dept. P, Springfield, VA 22150-0112. (208) WANTED OHIO NBNs. Please send list. Also, want LOWELL, TYLER, RYAN, WHITNEY, JORDAN, O'NIELL. Thanks for your help. 419-865-5115. Lowell Yoder, POB 444, Holland, 011 43528. (207) WANTED: STOCKS AND BONDS. Railroad, Mining, City, State, CSA, etc., etc. Also wanted Obsolete and CSA Currency. Always Paying Top Dollar. Richard T. Hoober, Jr., P.O. Box 3116, Key Largo, FL 33037. Phone or FAX (305)853-0105. (203) NYC WANTED: ISSUED NYC, Brooklyn, Williamsburgh obso- letes, any obsoletes from locations within present-day Manhattan, person to realize a greater price for a low quality note. Some things must eve:: remain unknowable. We do know a certain $2 traveled from Chaska to Washington and back; we have its return ticket. Presumably this is the note. Brooklyn, Bronx, Queens, Staten Island. Steve Goldberg, Box 402, Laurel, MD 20725-0402. (204) WANTED: NEW YORK OBSOLETE NOTES, all types. Also want obsolete notes from Portsmouth N.H. Please send list or Xerox. John Glynn, 41 St. Agnell's Lane, Hemel, Hempstead Herts, HP2 7AX, England. (206) Authors Wanted. Award-winning publica- tion wants to stay that way! Desperately needs your sagas, fables, treasure hunts, & tales. Spin your yarns for Paper Money now. Buying & Selling All Choice to Gem CU Fractional Currency Paying Over Bid Please Call: 916-687-7219 ROB'S COINS & CURRENCY P.O. Box 303 Wilton, CA. 95693 MaiffsuroWNatIrAiNiitt '4514 .1/1t-4j., (//41.- CANADIAN BOUGHT AND SOLD • CHARTERED BANK NOTES. • 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 (925) 946-0150 Fax (925) 930-7710 LIFE MEMBER A.N.A. #1995 C.N.A. #143 C.P.M.S. #11 .2_••■••"- 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 184 November/December 1999 • Whole No. 204 • PAPER MONEY 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 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 • SHIPPING: $3 for one book, $4 for two books, $5 for three or more books. All books are in new condition E, hardbound unless otherwise noted. CLASSIC COINS — P.O. BOX 95 — ALLEN, MI 49227 I N C P.O. BOX 84 • NANUET, N.Y 10954 BUYING / SELLING: OBSOLETE CURRENCY, NATIONALS, U.S. TYPE, UNCUT SHEETS, PROOFS, SCRIP. 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 AD INDEX ALLEN'S COIN SHOP 187 BOWERS E, MERENA GALLERIES IBC BERGS 185 N.B. BUCKMAN 179 COMMERCIAL COIN CO . 180 CLASSIC COINS 184 CURRENCY AUCTION.COM 188 DENLY'S OF BOSTON 187 EARLY AMERICAN NUMISMATICS 179 RICHARD T. HOOBER 180 HORDWEDEL, LOWELL C. 187 HUNTOON, PETER 187 JONES, HARRY 184 KAGIN, A.M. 186 KRAUSE PUBLICATIONS OBC LAMB, PHILLIP B . 185 MOORE, CHARLES D. 184 MORYCZ, STANLEY 167 NUMISVALU, INC. 184 OREGON PAPER MONEY EXCHANGE 185 PARRISH, CHARLES C. 179 PHEATT, WILLIAM H. 185 ROB'S COINS & CURRENCY 183 SHULL, HUGH 157 SLUSZKIEWICZ, TOM 180 SMYTHE, R.M. IFC YOUNGERMAN, WILLIAM, INC. 180 PAPER MONEY • November/December 1999 • Whole No. 204 185 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. Friendly Service. DispIdling at mane major trade shows. QUARTERLY PRICE LISTS: PHILLIP B. LAMB $8 ANNUALLY P.O. Box 15850 WANT LISTS INVITED NEW ORLEANS, LA 70175-5850 APPRAISALS BY FEE. 504-899-4710 CURRENCY CHECKLIST UNITED STATES SMALL SIZE By TYPE. 1928 to Date. Legal Tender Silver Certificates Gold Certs.—Hawaii—North Africa NBN—FRBN—FRN. 3 3/4 x 7 3/4 in. $10.95 postpaid. SPMC. BERGS P.O. Box 1732, Bismarck, ND 58502 Bank History Books • Published Bank Histories, over 200 Different, from Almost all States and Canada, 1882 to Present. • State and Regional Banking Histories, over 40 Different, mid-1800s to 1920s • Bank Directories & RR Manuals, Occasionally • Research Materials, Collateral Items for your Paper Money or Check Collection • Inquire by Author, Bank Name, or State of Interest OREGON PAPER MONEY EXCHANGE 6802 SW 33rd Place Portland, OR 97219 (503) 245-3659 Fax (503) 244-2977 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 186 November/December 1 999 • Whole No. 204 • PAPER MONEY CHECK THE "GREENSHEET" GET 10 OFFERS THEN CALL ME FOR WRITE) FOR MY TOP BUYING PRICES The Kagin name appears more often than any other in the pedigrees of the rarest and scarcest notes (U.S. Paper Money Records by Gengerke) BUY ALL U.S. CURRENCY Good to Gem Unc. I know rarity (have handled over 95% of U.S. in Friedberg) and condition (pay over "ask" for some) and am prepared to "reach" for it. Premium Prices Paid For Nationals Pay 2-3 times "book" prices for some). BUY EVERYTHING: Uncut Sheets, Errors, Stars, Special Numbers, etc. I can't sell what I don't have Pay Cash (no waiting) - No Deal Too Large A.M. ("Art") KAGIN 505 Fifth Avenue, Suite 910 Des Moines, Iowa 50309-2316 (515) 243-7363 Fax: (515) 288-8681 At 79 Now is The Time - Currency & Coin Dealer Over 50 Years I attend about 25 Currency-Coin Shows per year Visit Most States [Call, Fax or Write for Appointment) Collector Since 1928 Professional Since 1933 Founding Member PNG, President 1963-64 ANA Life Member 103, Governor 1983-87 Nobody pays more than Huntoon for ARIZONA & WYOMING state and territorial Nationals Peter Huntoon P.O. Box 19464 Las Vegas, NV 89132 702-270-4788 MYLAR D CURRENCY HOLDERS PRICED AS FOLLOWS BANK NOTE AND CHECK HOLDERS SIZE INCHES 50 100 500 1000 Fractional 4 1/4 x 3 3/4 $17.75 $32.50 $147.00 $255.00 Colonial 5 1/2 x 3 VI 6 18.75 35.00 159.00 295.00 Small Currency 6 Vi3 x 2 78 19.00 36.50 163.00 305.00 Large Currency 77, x 3 1/2 23.00 42.50 195.00 365.00 Auction 9 x 3 3/1 26.75 50.00 243.00 439.00 Foreign Currency 8 x 5 30.00 56.00 256.00 460.00 Checks 95/ti x 4'/4 28.25 52.50 240.00 444.00 SHEET HOLDERS SIZE INCHES 10 50 100 250 Obsolete Sheet End Open 83/4 x 14'/2 $13.00 $60.00 $100.00 $230.00 National Sheet Side Open 8 '/2 x 17'/2 25.00 100.00 180.00 425.00 Stock Certificate End Open 91/2 x 12 1/2 12.50 57.50 95.00 212.50 Map & Bond Size End Open 18 x 24 48.00 225.00 370.00 850.00 You may assort note holders for best price (min. 50 pcs. one size). You may assort sheet holders for best price (min. 5 pcs. one size) (min. 10 pcs. total). SHIPPING IN THE U.S. (PARCEL POST) FREE OF CHARGE Mylar De is a Registered Trademark of the Dupont Corporation. This also applies to uncoated archival quality Mylar® Type D by the Dupont Corp. or the equivalent material by ICI Industries Corp. Mel inex Type 516. DENLY'S OF BOSTON P.O. Box 1010, Boston, MA 02205 • 617-482-8477 ORDERS ONLY: 800-HI-DENLY • FAX 617-357-8163 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 SEND FOR OUR COMPLETE PRICE LIST FREE agtie COIN SHOP EST 1960 INC 399 S. State Street - Westerville, OH 43081 1-614-882-3937 1-800-848-3966 outside Ohio Life Member Fractional Foreign BUYING AND SELLING PAPER MONEY U.S., All types Thousands of Nationals, Large and Small, Silver Certificates, U.S. Notes, Gold Certificates, Treasury Notes, Federal Reserve Notes, Fractional, Continental, Colonial, Obsoletes, Depression Scrip, Checks, Stocks, etc. Foreign Notes from over 250 Countries Paper Money Books and Supplies Send us your Want List ... or ... Ship your material for a fair offer LOWELL C. HORWEDEL P.O. BOX 2395 WEST LAFAYETTE, IN 47906 SPMC #2907 ANA LM #1503 PAPER MONEY • November/December 1999 • Whole No. 204 187 November/December 1999 • Whole No. 204 • PAPER MONEY Bidders: Register NOW! Be entered in our contests to win FREE 1899 $1 Silver Certificates worth more than $225! Register at: CurrencyAuction.com 188 Curren(yAuction.com • Consign now to the most advanced numismatic currency auction site found anywhere on the World Wide Web • Ouick payments when selling • A new sale every 15th and 30th of each month • Low listing fee of only $2 per lot • Low seller's fees • Even lower reserve fees • Reach a world wide audience • View full-color photos of all notes • Zoom in for detailed, down-loadable images • View current opening bids • Easy to register, easy to bid • Enjoy the benefits of Interactive bidding • NO BUYER'S FEES • Ouick pay- ments when selling • E-mail notices, billing, and payment • A new sale every two weeks • Brought to you by HERITAGE, the world's largest numismatic dealer and auctioneer AMERICA'S CONVENTION AUCTIONEER ERITAGE NUMISMATIC AUCTIONS, INC. Heritage Plaza, 100 Highland Park Village, 2nd Floor • Dallas, Texas 75205-2788 1-800-US COINS (872-6467) • 214-528-3500 • FAX: 214-443-8425 web site: www.heritagecoin.com • e-mail: notes@currencyauction.com ) _ ICT1WEE- Steve Ivy Jim Halperin Greg Rohan Naii0lIati flank 967,W.M.e — -- An Interest Bearing $5,000 Proof Note realized $11,000. 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 1-800-458-4646 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. An Uncirculated Lazy Two $2 note from the State of Missouri,Auctions by Bowers and Merena, Inc. Box 1224 • Wolfeboro, NH 03894 • 800-458-4646 • FAX: 603-569-5319 • www.bowersandmerena.com Town of California realized $4,840. by Col ■ Current values for authorities 1d +0000000 llShafer • 376 note4stsritates 6,9110 Illustr modern issues I961-19W volume three Standard Catalog of World Paper Money, Modern Issues Volume III, Fifth Edition by Edited by Colin R. Bruce II and Neil Shafer Filled with values for more than 10,250 notes and over 7,000 large, clear photos, you'll find everything here to collect world paper money successfully and profitably. More than 376 note-issuing authorities are covered including all notes issued from 1961 to present, plus newly designed U.S. notes. Includes a user's guide, grad- ing terms, dating information, foreign language references, exchange tables and a foreign bank index. Softcover • 8-1/2 x 11 784 pages • 7,000 • b&w photos WP05 • $37.95 To receive a FREE catalog or to place a credit card order, Call 800-258-0929 Dept. N94S Mon-Fri, 7 a.m. - 8 p.m. • Sat, 8 a.m. - 2 p.m., CST Accurate Pricing for 10,250 Notes Mail to: Krause Publications, 700 E State St, Iola, WI 54990 Or visit and order from our secure web site: www.krause.com Dealers can call toll-free 888-457 -2873 ext 880, Mon-Fri 8 a.m. - 5 p.m. Shipping and Handling: Book Post - $3.25 1st book; $2 ea. add'1. Call for UPS delivery rates. Foreign addresses $15 per shipment plus $5.95 per book. Sales tax: WI 5.5%, IL 6.25%, IA 5%, VA 4.5%, CA 7.25%. SATISFACTION GUARANTEE If for any reason you are not completely satisfied with your purchase, simply return it within 14 days and receive a full refund, less shipping.