Paper Money - Vol. XXIV, No. 1 - Whole No. 115 - January - February 1985

Please sign up as a member or login to view and search this journal.

Table of Contents

IRELAND'S AMERICAN COLLEEN, P. 15 II _ 00,•■•!..:: ...... 101-iiiiiiiiiii.._41.4.- JAN./FEB. 1985 VOL. XXIV No. 1 WHOLE No. 115 NUMISMATIC AUCTIONS EXCMNG SPIRITED STIMULATING VITAL ESSENTIAL Traditionally, auctions are the most successful way to sell your rare coins or currency. With over 330 sales, Kagin's has the ex- perience to obtain maximum results, whether for the rare and the unusual, the specialized, or the more popular. No other firm offers A.M. (Art) Kagin's 50 years' personal experience, the professional expertise of Dr. Donald H. Kagin, the first recipient of a Ph.D. in numismatics in the United States, and the specialized knowledge of the largest staff of profes- sional numismatists in the world. When you consign to a Kagin auction, accept the peace of mind from knowing that your collection will receive Kagin's personalized treatment. Kagin's offers consignors unlimited funds for cash advances of up to 50% of every consignment and immediate pre-grading and evaluation before any contracts are signed. Kagin's publicity is specially designed to enhance the competitive auction bidding spirit so necessary to a successful sale. The dramatic auc- tion catalog individually presents your material and is distributed to our established mailing list of active bidders, compiled over decades and built by confidence in Kagin's. A consignment to a Kagin's auction is your assurance of top prices for your collection. Look for our numismatic professionals at national and regional conventions, or call toll free to discuss your consignment with a Kagin's professional. Ask for the experts. SAN FRANCISCO DONALD H. KAGIN, Ph.D. Dr. GEORGE J. FULD RON HOWARD DES MOINES A.M. (ART) KAGIN SAN FRANCISCO DES MOINES NEW YORK One Market Plaza 26th Floor, Steuart St. Tower San Francisco, CA 94105 TOLL FREE 800 227-5676 In Calif. 800 652-4467 505 Fifth Avenue Suite 1000 Des Moines, IA 50309 TOLL FREE 800 247-5335 In Iowa 800 622-8289 305 Madison Avenue Suite 961 New York, NY 10165 TOLL FREE 800 221-3064 In NY 800 522-3004 AN INDEX TO PAPER MONEY Volume 23, 1984 Nos. 109, 110, 111, 112, 113, 114 Adams, Larry No. Page FOREIGN CURRENCY ( See WORLD CURRENCY) No. Page Interest bearing notes. 109 41 Gregory, Joseph F. 110 97 Altered Kittanning bank note. Illus 109 14 111 149 Hessler, Gene 112 196 1864 yes, 1984 maybe. Illus. 114 299 113 243 The educational note designers. Illus.: 114 295 Edwin H. Blashfield 112 173 AWARD WINNERS Walter Shirlaw 113 236 Julian Blanchard Memorial Award, Dr. Glenn E. Jackson. .. 114 297 Will H. Low 114 273 Nathan Gold Memorial Award, Barbara Mueller 114 296 The environment and the American Indian as seen on 19th cen- SPMC Award of Merit, Walter Rosene, Jr. and Wendell Wolka 114 295 tury bank notes. Illus. 110 75 SPMC Literary Awards: 200th anniversary for two banks. Illus. 114 282 1st. William S. Dewey 114 296 Horstman, Ronald L. 2nd. Everett K. Cooper 114 296 North Missouri railroad advertising notes and the German influ- 3rd. John Glynn. 114 296 ence. Illus. 112 192 BANK NOTE ENGRAVING AND DESIGN Huntoon, Peter American bank note engravers of the state bank era, biographies. The Paper Column : C. John Ferreri. 109 22 Evolution of treasury serial numbering of national bank notes. 1864 yes, 1984 maybe. Illus. Gene Hessler. 114 299 Illus 112 181 Match-ups—and Josiah Morris. Illus. Jack Weaver 111 144 $5 1934B New York intermediate size plate number 212. The educational note designers. Illus.: illus 110 87 Edwin H. Blashfield 112 173 $5 series of 1875 Schwenksville, PA black charter discovery. Walter Shirlaw 113 236 fllus 114 276 Will H. Low 114 273 Late finished plates used to print small notes. Illus 111 122 BANKS AND BANKERS Territorial census—status report. Illus 109 15 Present hometown, Huntsville, Alabama. Illus. Steven Whitfield. 114 267 Irish, James Lee 200th anniversary for two banks. Illus. Gene Hessler. 114 282 Obituary 110 67 Boling, Joseph E. Kane, Michael Literature Review: U.S. paper money grading standard, by A different view of late finished plates used to print small size Herbert J. Kwart. 113 248 notes 113 235 BROKEN BANK NOTES (See OBSOLETE NOTES) Klein, David CANADA The first small "ones." Illus. 109 31 CPMS speaker, Bob Graham, photo. 112 194 Lloyd, Robert H. Legal tender note specimens on market. Illus. 109 20 College currency—IV. Illus. 111 133 COLONIAL PERIOD CURRENCY A Rhode Island note, Spanish milled dollars and English shillings LITERATURE REVIEW Illus. Steven A. Feller 111 131 The Brotherhood of Money, M.T. Bloom. 109 11 The Illinois country currency. Illus. Harry G. Wigington 109 3 The Official Paper Money of the Kingdom of Denmark, Leo CONFEDERATE Hanson. ed 112 198 Collecting Confederate paper—stamps and currency. Illus. Ever- Paper Currency of the Republic of Turkey, Clineyt dicer 112 198 ett K. Cooper. 111 139 U.S. Paper Money Grading Standard, Herbert J. Kwart. 113 248 The Confederate states of America cotton loan bonds. Illus. Ed- MacKenzie, Kenneth ward Schuman 111 142 Literature Review: Paper Currency of the Republic of Turkey, CORRECTIONS: by ainesrt Olcer. 112 198 Dewey, (No. 108); Wams, (No. 111) 112 177 Mueller, Barbara R. COUNTERFEIT, ALTERED AND SPURIOUS NOTES Literature Review: The Brotherhood of Money, by M.T. Bloom. 109 11 Altered Kittanning bank note. Illus. Joseph F. Gregory 109 14 Making our own paper money-1893 110 95 Bunco, bogus & bank robbin'. Barry Wexler 112 113 178 234 Mutilated money. 112 191 The green goods game. Forrest W. Daniel. 109 112 33 185 OBSOLETE NOTES 113 221 Present hometown, Huntsville, Alabama. Illus. Steven Whitfield. 114 267 114 277 The environment and the American Indian as seen on 19th cen- tury bank notes. Illus. Gene Hessler. 110 75 Daniel, Forrest W. The green goods game 109 33 112 185 Overlock, E. Burnell 113 221 The beginning and ending of the Buzzards Bay National Bank. 114 277 Illus 109 12 ERROR NOTES Poleske, Lee E. Mismatched serial numbers. Illus. Jim Greene 109 18 More paper money iconography—the battle of Iquique. Illus... 110 59 Feller, Steven A. Remick, Jerry A Rhode Island note, Spanish milled dollars and English shil- Quebec City grocery store releases trade notes. Illus 111 147 lings. Illus. 111 131 Pope's visit to Quebec commemorated on store trade notes. Ferreri, C. John Bus 113 241 American bank note engravers of the state bank era 109 22 Fulkerson, Wm. K. "Pete" RAILROAD CURRENCY Omaha, Illinois and its only national bank, the first national bank North Missouri railroad advertising notes and the German influ - of Omaha. Illus. 112 171 ence. Illus. Ronald L. Horstman 112 192 Railroad notes and scrip of the United States, the Confederate No. Page U.S. LARGE SIZE NOTES—general articles No. Page states and Canada. Illus. Richard T. Hoober 109 37 Making our own paper money-1893 110 95 110 90 111 135 U.S. SMALL SIZE NOTES—general articles 112 186 $5 1934B New York intermediate size plate number 212. Illus. 113 227 Peter Huntoon. 110 87 114 278 Mismatched serial numbers. Illus. Jim Greene. 109 18 Schuman, Edward The first small "ones." Illus. David Klein 109 31 The Confederate states of America cotton bonds, Illus. 111 142 The $1 silver certificate mules. Illus. Graeme M. Ton, Jr. 111 126 The African ostrich farm and feather company, Illus. 109 27 The practice of "note snipping" during the 1929-1935 national William Walker's military scrip. Illus. 110 79 bank note issuing period. Illus. M.O. Wams. 111 148 Smith, Bruce W. Interesting statistics on Missouri national banks and their notes U.S. NATIONAL BANK NOTES Illus 113 225 Evolution of treasury serial numbering of national bank notes. Ton, Graeme M. Jr. Illus. Peter Huntoon. 112 181 The $1 silver certificate mules. Illus. 111 126 $5 series of 1875 Schwenksville, PA black charter discovery. SOUVENIR CARDS Illus. Peter Huntoon. 114 276 BEP card for ANA 112 195 Interesting statistics on Missouri National Banks and their notes. BEP card for Memphis 112 193 Illus. Bruce W. Smith 113 225 Final report on sales of 1983 SPMC cards 110 99 1929-1935 national bank note varieties. Illus. M.O. Warns 109 21 SOCIETY OF PAPER MONEY COLLECTORS 1929-1935 national bank note varieties—supplement XIII. Illus. ANA convention 114 295 M.O. Warns, 110 63 Paper money winners 114 293 1929-1935 national bank note varieties—analysis of the 14000 Annual awards described 111 154 series of national bank charters and their notes. Illus. M.O. Editor's corner 112 198 Warns 111 115 113 247 Omaha, Illinois and its only national bank, the First National 114 299 Bank of Omaha. Illus. Wm. K. "Pete" Fulkerson. 112 171 Financial statement. 114 298 Territorial census—status report. Illus. Peter Huntoon. 109 15 Interest bearing notes. 109 41 The beginning and ending of the Buzzards Bay National Bank. 110 97 Illus. E. Burnell Overlock 109 12 111 149 The practice of "note" snipping during the 1929-1935 national 112 196 bank note issuing period. Illus. M.O. Wams. 111 148 113 243 Update—individual national bank charters by states whose notes 114 295 of the 1929-1935 issuing period remain unreported. Illus. Introducing your officers and appointees 112 197 M.O. Warns. 110 68 Library notes 114 285 Warns, M. Owen Meet the candidates 111 151 1929 1935 national bank note varieties. Illus. 109 21 Memphis convention coverage, photos. 113 243 Analysis of the 14000 series and their notes. Illus. 111 115 Obituary—James Lee Irish. 110 67 Supplement XIII. Illus. 110 63 Recruitment report 113 247 The practice of "note" snipping. Illus. - 111 148 114 298 Update—individual national bank charters by states whose notes Secretary's report 109 42 remain unreported. Illus 110 68 110 99 Weaver, Jack 111 156 112 200 Match-ups and Josiah Morris. Illus 111 144 113 250 Wexler, Barry 114 300 Bunco, bogus and bank robbin'. 112 178 Show at Cherry Hill announced 114 298 113 234 Souvenir card 110 99 Whitfield, Steven The buck stops here 111 150 Present hometown, Huntsville, Alabama. Illus. 114 267 TERRITORIAL NOTES (See U.S. NATIONAL BANK NOTES) Wigington, Hary G. U.S BUREAU OF ENGRAVING AND PRINTING The Illinois country currency. Illus. 109 3 Announces '85 exhibit schedule 114 293 A perfect "10" 110 82 Ceremonies for first Regan/Ortega notes 110 82 WORLD CURRENCY Produces 5 billionth note 114 294 Centennial of postal savings in Sweden. Illus. 109 41 Selling 1981A sheets, all districts. 111 131 More paper money iconography—the battle of Iquique. Illus . Selling $2 sheets 112 194 Lee E. Poleske. 110 59 Souvenir card for ANA. 112 195 William Walter's military scrip. Illus. Edward Schuman. 110 79 Souvenir card for Memphis. 112 193 Saudi Arabia issues new notes. Illus. 113 242 IN NEW YORK - - IN THE SPRING IT'S THE Metropolitan New York Numismatic Convention ******************************** The 29th Annual "METRO N.Y." Convention will be held March 29, 30, 31, 1985 at the Vista International Hotel World Trade Center, N.Y.C. FREE ADMISSION EXHIBITS - BOURSE - EDUCATIONAL FORUM - YN PROGRAM AUCTION BY KAGIN'S NUMISMATIC AUCTIONS For Dealer Information: James K. Brandt, P.O. Box 787, Pearl River, N.Y. 10965 Exhibit Chairman: Vincent Alones, P.O. Box 887, New Hyde Park, N. Y. 11040 SOCIETY P. PER COLLECTORS AfLaIsol 4112. Paper Money Whole No. 115 Page 1 PAPER MONEY is published every other month beginning in January by The Society of Paper Money Collectors, 1211 N. DuPont Hwy., Dover, DE. Se- cond class postage paid at Dover, DE 19901. Postmaster; send address changes to: Paper Money, 1211 N. DuPont Hwy. Dover, DE 19901. © Society of Paper Money Collectors, Inc., 1984. All rights reserved. Repro- duction of any article, in whole or in part, without express written permis- sion, is prohibited. Annual Membership dues in SPMC are $12. Individual copies of current issues, $2.00. ADVERTISING RATES SPACE Outside I TIME 3 TIMES 6 TIMES Back Cover $72.00 $195.00 $367.50 Inside Front & Back Cover $67.50 $181.50 $345.00 Full Page $59.00 $158.00 $299.00 Half-page $36.00 $ 98.00 $185.00 Quarter-page $15.00 $ 40.00 $ 77.00 Eighth-page $10.00 $ 26.00 $ 49.00 To keep administrative costs at a minimum and advertising rates low, advertising orders must be prepaid in advance according to the above schedule. In the exceptional cases where special artwork or extra typing are re- quired, the advertiser will be notified and billed extra for them accordingly. Rates are not commissionable. Proofs are not supplied. Deadline: Copy must be in the editorial office no later than the first of the month preceding month of issue (e.g. Feb. 1 for March issue). Mechanical Requirements: Full page 42 x 57 picas; half-page may be either vertical or horizontal in format. Single column width, 20 picas. Halftones acceptable, but not mats or stereos. Page position may be requested but cannot be guaranteed. Advertising copy shall be restricted to paper currency and allied numismatic material and publications and accessories related thereto. SPMC does not guarantee advertisements but accepts copy in good faith, reserving the right to reject objectionable material or edit any copy. SPMC assumes no financial responsibility for typographical errors in advertisements, but agrees to reprint that portion of an advertise- ment in which typographical error should oc- cur upon prompt notification of such error. All advertising copy and correspondence should be sent to the Editor. Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XXIV No. 1 Whole No. 115 JAN./FEB. 1985 ISSN 0031-1162 GENE HESSLER, Editor Box 416 Oradell, NJ 07649 Manuscripts and publications for review should be addressed to the Editor. Opinions expressed by the authors are their own and do not necessarily reflect those of SPMC or its staff. PAPER MONEY reserves the right to edit or reject any copy. Deadline for editorial copy is the 1st of the month preceding the month of publication (e.g., Feb. 1 for March/April issue, etc.). IN THIS ISSUE THE CHIDESTER STAGE LINES Matt Rothert, Sr. 3 THE PAPER COLUMN—THE WYOMING NATIONAL BANK MASSACRE OF 1924 Peter Huntoon 6 TRIAL LISTING OF MISSOURI OBSOLETE NOTES & SCRIP Bruce W. Smith 11 IRELAND'S AMERICAN COLLEEN Derek Young 15 $50 COMPOUND INTEREST TREASURY NOTE— AN INCORRECT DATE Gene Hessler 18 THOSE CONTROVERSIAL LATE FINISHED PLATES Peter Huntoon 20 RAILROAD NOTES & SCRIP Richard Hoober 21 THE ENIGMATIC STEPHEN GIRARD Edward Schumann 24 DISCOUNT COUPONS PASSED AS CASH Forrest W. Daniel 26 SERIES 1923 ONE DOLLAR SILVER CERTIFICATE CHANGEOVERS Robert W. Lane 29 1925-1935 NATIONAL BANK NOTE VARIETIES— SUPPLEMENT XIV M. Owen Warns 31 14000 CHARTER NOTE ADDITIONS M. Owen Warns 34 CORRECTIONS FOR NO. 1 1 I & 113 34 BUNCO, BOGUS AND BANK ROBBIN' Barry Wexler 35 ISRAEL ISSUES FIRST SOUVENIR CARD 37 SOCIETY FEATURES INTEREST BEARING NOTES 38 RECRUITMENT REPORT 38 INTERNATIONAL PAPER MONEY CONVENTION— 40 40 SECRETARY'S REPORT 4 39 EDITOR'S CORNER CHERRY HILL, PRELIMINARY DETAILS Page 2 Paper Money Whole No. 115 Society of Paper Money Collectors OFFICERS PRESIDENT Larry Adams, P.O. Box 1, Boone, Iowa 50036 VICE-PRESIDENT Roger H. Durand, P.O. Box 186, Rehoboth, MA 02769 SECRETARY Gary Lewis, P.O. Box 4751, N. Ft. Myers, FL 33903 TREASURER James F. Stone, P.O. Box 89, Milford, N.H. 03055 APPOINTEES EDITOR Gene Hessler, P.O. Box 416, Oradell, NJ 07649 NEW MEMBERSHIP COORDINATOR Ron Horstman, P.O. Box 6011, St. Louis, MO 63139 BOOK SALES COORDINATOR Richard Balbaton, 116 Fisher Street, North Attleboro, MA 02760. WISMER BOOK PROJECT Richard T. Hoober, P.O. Box 196, Newfoundland, PA 18445 LEGAL COUNSEL Robert G. Galiette, 10 Wilcox Lane, Avon, CT 06001 PAST PRESIDENT AND LIBRARIAN Wendell Wolka, P.O. Box 366, Hinsdale, IL 60521 PUBLICITY CHAIRMAN C. John Ferreri, P.O. Box 33, Storrs, CT 06268 NEW MEMBERSHIP COORDINATOR Ron Horstman, P.O. Box 6011, St. Louis, MO 63139 BOARD OF GOVERNORS Walter Allan, Charles Colver, Michael Crabb, Roger H. Durand, C. John Ferreri, William Horton, Jr., Peter Huntoon, Charles Kemp, Roman L. Latimer, Donald Mark, Dean Oakes, Bernard Schaaf, M.D., Stephen Taylor, Steven Whitfield, John Wilson. The Society of Paper Money Collectors was organized in 1961 and incorporated in 1964 as a non-profit organ- ization under the laws of the District of Columbia. It is af- filiated with the American Numismatic Association and holds its annual meeting at the ANA Convention in August of each year. MEMBERSHIP—REGULAR. Applicants must be at least 18 years of age and of good moral character. JUNIOR. Applicants must be from 12 to 18 years of age and of good moral character. Their application must be signed by a parent or a guardian. They will be preceded by the letter "j". This letter will be removed upon notifi- cation to the secretary that the member has reached 18 years of age. Junior members are not eligible to hold of- fice or to vote. Members of the A.N.A. or other recognized numis- matic organizations are eligible for membership. Other applicants should be sponsored by an S.P.M.C. member, or the secretary will sponsor persons if they provide suitable references such as well known numismatic firms with whom they have done business, or bank references, etc. DUES—The Society dues are on a calendar year basis. Annual dues are $12. Members who join the Society prior to October 1st receive the magazines already issued in the year in which they join. 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 in November of the year in which they joined. PUBLICATIONS FOR SALE TO MEMBERS BOOKS FOR SALE: All cloth bound books are 81/2 x 11" TERRITORIALS—A GUIDE TO U.S. TERRITORIAL BANK NOTES, Huntoon $12.00 Non-Member $15.00 INDIAN TERRITORY / OKLAHOMA / KANSAS OBSOLETE NOTES & SCRIP, Burgett & Whitefield Non-Member OBSOLETE NOTES & SCRIP OF RHODE ISLAND IOWA OBSOLETE NOTES & SCRIP, Oakes AND THE PROVIDENCE PLANTATIONS, Non-Member Durand $20.00 ALABAMA OBSOLETE NOTES AND SCRIP . Non-Member $25.00 Non-Member NEW JERSEY'S MONEY, Wait $12.00 Non-Member $25.00 Write for Quantity Prices on the above books. INDIANA OBSOLETE NOTES & SCRIP $12.00 Non-Member $15.00 MINNESOTA OBSOLETE NOTES & SCRIP. Rockholt 12.00 Non-Member $15.00 MAINE OBSOLETE NOTES & SCRIP. Wait $12.00 Non-Member $15.00 $12.00 $15.00 $12.00 $15.00 $12.00 $15.00 ORDERING INSTRUCTIONS I. Give complete description for all items ordered. 2. Total the cost of all publications ordered. 3. ALL publications are postpaid except orders for less than 5 copies of Paper Money. 4. Enclose payment (U.S. funds only) with all orders. Make your check or money order payable to: Society of Paper Money Collectors. 5. Remember to include your ZIP CODE. 6. Allow up to six weeks for delivery. We have no control of your package after we place it in the mails. Order from: R.J. Balbaton, SPMC Book Sales Dept. 116 Fisher St., North Attleboro, MA 02760. Library Services The Society maintains a lending library for the use of Librarian—Wendell Wolka, P.O. Box 366, Hinsdale, Ill. the members only. For further information, write the 60521. Paper Money Whole No. 115 Page 3 The Chidester Stage Lines the Issuer of Stage Coach Passes By Matt Rothert, Sr. N.L.G. This coach is exhibited at the New Hampshire Historical Society, Con- cord, New Hampshire. (Courtesy of the New Hampshire Historical Society). HE citizens of Camden, Arkansas, found the stage linesT an important part of their lives during the 1800s. The famous overland stage lines from the Mississippi River west to California, the Butterfield and Holladay Lines, are well known by historians to this day. In the 1840s, stage coaches carried mail and passengers from the southern half of the state into Camden, which was the head of navigation on the Ouachita River from New Orleans. In the 1850s a stage route was established from Camden to the little settlement of Gaines Landing on the Mississippi River where the big river boats could be boarded, and from Camden to Hot Springs and Little Rock in central Arkansas. The development of these stage lines was quickly improved by the arrival of Colonel John T. Chidester in 1857. He wanted to extend stage coach operations from Camden's cen- tral location to the entire southwest. Born in Cooperstown, New York on November 1, 1818, he operated stage lines in Georgia, Alabama and Mississippi, moving westward with the advance of railroads in the east. He began his Arkansas stage operations as a subcontractor, asked to improve the Little Rock to Fort Smith stage of the Butterfield Overland Mail Route from Memphis to San Fran- cisco. The slowness of this route had brought many com- plaints. Chidester had a conference with postal authorities in Wash- ington in December 1858, resolved local problems, and formed the Chidester, Reeside and Company stage line of four-horse mail coaches. That year he moved his family to Camden, and in 1859 he took over the route to Gaines Land- ing, Arkansas, making the 170 mile trip in 28 hours, including stops for meals and "rest." His "Great Western Coach Line" used four-horse, nine-pas- senger coaches. A Camden business man, Mr. R.F. Kellam. wrote in his diary August 11, 1859: Left home for New York on the Gaines Landing Stage. Supper at Pennington Hotel, Warren. Stage ran all night. slept some, jostle, jolt, thump and bump. Morning came, we enter the Mississippi bottoms. Rough and tumble all on causeway. Dinner at Lowry's. Good dinner and excellent water. Arrive at Gaines Landing at 4 PM—hot, tired, worn out, full of dirt and dust. He later wrote "during the rainy winter [18,59-60) the roads were knee deep in mud, bridges washed away—sleet and snow." Page 4 Paper Money Whole No. 115 One mule from a team of four in the muddy Arkansas road. The Civil War interrupted the stage mail and passenger busi- ness. After the war the shortage of horses, the worn out equipment, the washed out bridges, the unrepaired roads and the lack of capital made the problems very difficult. In 1866 Colonel Chidester started to rebuild the stage sys- tem in Arkansas. An article in the Little Rock Arkansas Gazette, September 25, 1866 stated: We are glad these [mail] contracts have been taken by some- one who will execute them in a manner that will afford our people the convenience of regular mails. Colonel Chidester has had much experience and we believe he has the disposi- tion as well as the means, to fulfill his obligation. A tale was told that a Chidester stagecoach was held up by the famous bandit, Jesse James, near Gulpha Creek on the Hot Springs route; we do not have a record of this holdup. A typical Jesse James affair began when his group of five horse- men, often wearing old army overcoats, would suddenly sur- round the coach. The leader would shout at the driver, "Stop, or we'll blow your head off." "Get out quick," was the next stern order, and outside, three of the highwaymen stood in a row by the door, their pistols cocked, a fourth was off on one side with a shotgun and a fifth was on the opposite side. After ordering the passengers out. the outlaws made them form a circle and they began collecting watches, jewelry and money from them. As soon as the outlaw leader completed the circle, he would ask if any of the victims had been in the Confederate Army. If any said he had been, and could give a satisfactory statement about his regiment, command and of- ficers, his watch and money were returned to him. The high- waymen would say they were leaving to go south and would depart in that direction, but no doubt they soon turned in the direction of their hideout. In 1874 Chidester's line advertised "first class coaches, care- ful, safe and sober drivers, and horses second to none in the state." Colonel Chidester operated the last major link in a transcontinental stage line through rough and uncivilized ter- ritory. In 1878 his mail and passenger line from Fort Worth, Texas to Fort Yuma, Arizona was called the Arkansas, Texas and Pacific Mail Company. His son, Frank B. Chidester, was the superintendent, using 60 Concord coaches, 2,000 horses and 300 men, plus the services of a United States Cavalry detachment, to carry the mail the 1560 miles from Fort Worth to Fort Yuma. The Concord Stage Coach was made in Concord, New Hampshire. It was considered the very best coach made in ,:he United States at that time. They made four-and six-horse coaches that seated nine people plus the driver and guard. Made of the best materials available, this company had been building coaches since 1826 and was immortalized by their great Wells Fargo coaches. The Chidester home in Camden, built in 1847. was placed on the National Register of Historic Places in June 1971. It is maintained with the original furnishings, by the Ouachita County Historical Society and is open to the public. "771-rir Paper Money Whole No. 115 Page 5 "Working a funeral" in the 1800s at the Chidester Livery Stable, Camden, Arkansas. Unloading the steamboat City of Camden at Camden, ca. 1890. (Continued on p. 19) FRANNIE. COWLEY ° o KANE DAYTON o oRANCHESTER °GARL AND POWELL sit SHERIDAN CLEAR MONT 0 °ARVADA In THERMOPOLIS o K AY C E E E2 ' NEWCASTLE \ °ROSS °L AVOYE SHOSHO NI Paper Money Whole No. 115Page 6 a THE PAPER COLUMN by Peter Huntoon THE WYOMING NATIONAL BANK MASSACRE OF 1924 The purpose of this article is to explain why an unprecedented number of Wyoming na- tional banks failed in 1924. The importance of this period for the collector of national bank notes is that notes from these failed banks account for most of the large size rarities from my state. OTTO oGREYBULL ° 12 BASIN omANDERSON o MEETEETSE WOqRLAND oTEN SLEEP SUNcD'ANCJ, °BUFFALO GILLETTE oMOORCROFT °UPTON OSAGE 0 o DUBOIS FREEDOM °RIVERTON °HUDSON CASPER 131 oGLENROCK LOSTSPRINGS MANVILLE o en LUSKDOUGL AS@ 0 ° SH AW NEE VANK E E Al NSES ELL RAWLINS 0 D PARCO o GLEN DO GUERNSEY0 FORTLARAMIE 0 \ LINGLE 0 o CHUG WATER 0 L AGRANGE, oBIG PINEY 0 ROCK SPRINGS WYOMING °SARATOGA °ENCAMPMENT DIXONBAGGS0 0 ,,SLATER oMEDICINE BOW OHANNA E ROCK RIVER WHE AT LA N Do TORRINGTON HILLSDALE BURN o o PINE nCHEYENNE • BLUFFS CA RP ENTERo Map showing the locations of towns in Wyoming that lost state banks (circles between 1920 and 1927, and national banks (squares) between 1920 and 1930 through liquidations, mergers, or failures. Paper Money No. 115 Page 7 PERSPECTIVE HE great depression for the typical Wyomingite began in the early 1920s—not with the later collapse that precipi- tated the bank holiday in 1933. A severely overheated agricultural economy, which had been fueled by high demand and prices during World War I, and feverish land and commod- ity speculation imploded. Bankers had a significant role in this boom-bust cycle because they had optimistically over-capitalized the agricultural expansion in what now appears to have been speculative fervor rather than sound business judgment. People who lived through the depression years repeatedly re- called that they felt more suffering in the twenties than in the thirties. To them, the thirties just seemed like more of the same. Beyond the borders of Wyoming, this situation prevailed in just about every area of the country dominated by an agricultural economy. Federal Deposit Insurance would not be established until 1933, therefore, the agriculture collapse of the twenties was nothing short of a disaster for Wyoming bank depositors. Each time a depositor added to his account, he made an investment in the business judgement and personal integrity of his banker. His money was truly at risk. One conclusion to be drawn from this study is that the col- lapse of the 1920s resulted to a large extent from the very foun- dation of American success and greatness—unbounded op- timism. Cynics might claim that the root of the problem was greed—but what is the difference when it comes to matters of money? Those innocents who walked into all those early banks and blithely placed their savings on the counter possessed a common human flaw—an attitude that things can only get bet- ter —"it can't happen to me!" Much of the blame for the economic failures of the 1920s rests squarely on the institution of banking. What happened to the Wyoming national banks was repeated many times over in the state banking system. In fact, the mess with the national banks would be considered too narrow a perspective to make this period understandable. The statistics of the competing state banks are required to round out this story. The economics of the early 1920s were shrouded in a blanket of smoke coming from Washington and myths spread by influ- ential financial circles. The bottom line from these sources was that a little recession was good for the soul. There was an almost complete indifference to the citizens who comprised the bottom of the pyramid. Farmers and laborers of that era were treated with what appears to be an almost callous disregard as the rich scrambled for more. The statistics and graphs, which follow, il- lustrate the impact of the agricultural depression on banking. The Wyoming national banks will be examined first, then the state banks. GROSS NATIONAL BANK STATISTICS Figure 1 shows a record of the number of Wyoming national banks in operation for each year during the National Bank Note issuing period. As 1921 came to a close, there were forty seven operating national banks in Wyoming. During the next eight years, one new bank would open (First National Bank of Parco) and one bank would totally reorganize under a new charter (First National Bank of Thermopolis). In contrast, twenty three would go out of business, ten as failures. All the failures were compressed into the years 1923-1924. Many of the other thirteen banks were so weakened during this period that they had to seek exits through the merger or liquidation route before the end of 1929. See Tables 1 and 2. Nothing dominates Figure 1 more than the precipitous number of closures in 1924. In that year national bank casualties included nine receiverships and four liquidations or consolida- tions. Thirteen banks in all, or 30 percent of the 1923 total, were gone in just eleven months. One of the receiverships, the Powell National Bank, was restored to solvency but remained sufficiently crippled that its president, J.E. Dowling, resumed business only to wind up its affairs in order to honorably li- quidate in 1929. NUMBER OF NATIONAL BANKS 1870 1880 1890 - [900 1910 1920 - 7- 1930 1936e a 8 A 5 Figure 1. Numbers of national banks operating in Wyoming between 1871 and 1935. Reporting dates are as follows: 1871- 1914—end of the third quarter; 1915-1935—year end (Comptroller of the Currency, various dates). Figure 2, which shows the total resources of the national banks, illustrates that the 1924 dip was severe, down $15.7 million or 25 percent from year end 1923 figures. The reality that resources were down 25 percent as compared to a 30 per- cent decline in the number of banks illustrates that losses were disproportionately borne by the over-extended smaller banks. This was in fact the case. See Figure 3 for the impact on the total Wyoming national bank note circulation resulting from the 1924 contraction. The remarkable fact for Wyoming was that the national bank shakeout during the 1920s was so complete, there were no failures or liquidations in the depression years of the thirties. This record was attained even though the percentage dip in resources in the early 1930s recorded on Figure 2 was some- what greater than that of the 1924 period. By the 1930s Wyom- ing's national banks were financially postured and sufficiently case hardened to weather the storm. Clearly by the end of 1936, national bank resources had bounded back to pre-bank holiday conditions, indicating intrinsic strength in the surviving banks as well as gains in economic recovery, or at least a new stability in the adjusted Wyoming economy. Table 1. Wyoming National Banks that failed during the ten years 1921 to 1930. Percent dividends are percentages of deposits at time of failure that were repaid as depositors. Data from Comptroller of the Currency (various dates) . Town Bank Charter Number Date Organized Reason for Failure Date Receiver Appointed Conditions at Date of Failure Date Percent Divi- dendsPresident Circu- Cashier Capital lation Affairs Deposits Closed Rock River First National Bank 11342 Apr. 24, 1919 Large losses, defalcation of officers June 14. 1923 Alvy Dixon Lewis C. Butlera 50.000 13,700 158, 539 Dec. 31. 1929 30.5 Manville First National Bank 11352 May 1, 1919 Heavy withdrawals Dec. 11. 1923 B.F. Yoder G.J. Church 25,000 25,000 64.463 Mar. 21. 1927 59.0 Lusk First National Bank 11390 June 23, 1919 Depleted reserve Feb. 7. 1924 G. Tinnin Elmer E. Grebe 50.000 48,500 82,343 Mar. 21, 1927 66.0 Lingle First National Bank 11231 Aug. 19, 1918 Unable to realize on assets Mar. 19, 1924 Wm. L. Connelly C.E. Weymiller 25,000 none 54,763 Oct. 31. 1929 22.4 Torrington Torrington National 11309 Feb. 3, 1919 Heavy withdrawals Mar. 19, 1924 B F. Yoder A.H. Woolever 35,000 none 67,468 Apr. 30. 1931 92.0 Bank Powell Powell National 10565 June 12, 1914 Heavy withdrawals Mar. 27. 1924 J.E. Dowling J.F. Moses, Jr. 40.000 24.600 188.432 Restored to solvency. Bank May 31. 1924 Newcastle First National Bank 7198 Mar. 23, 1904 Large losses. withdrawals, and insufficient credit June 12. 1924 John L. Baird Jay C. Baird 25.000 24.300 442,668 Sep. 8. 1928 47.7 Basin First National Bank 10858 May 15. 1916 Depreciation of securities June 14, 1924 Arthur K. Lee J.C. Stewart 35.000 35.000 174.795 Sep. 23. 1929 75.5 Cheyenne First National Bank 1800 Dec. 29, 1870, Injudicious bank ng July 9, 1924 George E. Abbott A.D. Johnson b 200.000 200.000 4,498,121 Nov. 2, 1931 57.8 Cheyenne Citizens National Bank 8089 Jan. 15, 1906 Unable to realize on assets July 21, 1924 C.W Hersig Wesley I. Dumm 100,000 99,995 1,214,862 July 27, 1928 72.9 Torrington First National Bank 9289 Oct. 6, 1908 Local financial conditions Dec. 16. 1924 H.S. Clarke, Jr. E.P. Perry 50,000 6,100 254,693 Mar. 1, 1930 85.9 a Sentenced March 25. to fifteen months in jail for embezzlement. b Fined April 28, 1927 for $300 for misapplication and abstraction. Table 2. Wyoming National Banks, incorporated and liquidated during the ten years 1921 to 1930. Data from Comptroller of Currency (various dates). Condition at Date of Organization Town Bank Charter Number Date Organized President Cashier Capital Circu- lation INCORPORATED: Parco First National Bank 12558 1924 Patrick J. Quealy Otto Frederick 25,000 none Thermopolis First National Bank in 12638 Feb. 9, 1925 H.P. Bothwell E.C. Bothwell 50,000 50,000 Condition at Date of Organization Charter Date Circu- Date Town Bank Number Organized President Cashier Capital lation Liquidated Successor LIQUIDATED: Newcastle Newcastle National Bank 11079 1917 W.D. McKeon C.F. Morrison 25,000 none Dec. 1, 1922 Purchased by First National Bank of Newcastle Douglas First National Bank 3556 Aug. 18, 1886 G.W. Metcalf C.C. Browning 75,000 73,500 Dec. 15, 1923 Absorbed by Commercial Bank and Trust Co., Douglas Casper National Bank of 11490 Oct. 10 919 Arthur K. Lee R.F. Kamman 125.000 125,000 July 18, 1924 Absorbed by Wyoming Trust Co., Casper Commerce Rawlins Stockgrowers National 9557 Sep. 15, 1909 E.M. Tiemey H. Breitenstein 75,000 74,100 Oct. 28, 1924 Absorbed by First National Bank of Rawlins Bank Shoshoni First National Bank 7978 Oct. 5, 1905 A.J. Cunningham S.H. Megown 25,000 25,000 Nov 29, 1924 Succeeded by First State Bank, Shoshoni Worland First National Bank 8253 Apr. 7, 1906 H.B. Gates R.G. Culbertson 25,000 10,000 Dec. 29, 1924 Absorbed by Farmers State Bank, Worland Thermopolis First National Bank of 5949 July 24, 1901 R.J. Ireland W.T. Bivin 100,000 50,000 Feb. 21, 1925 Succeeded by First National Bank in Thermopolis Casper Citizens National Bank 11683 Mar. 22, 1920 M.J. Burke J.R. Schlueter 100,000 100,000 Apr. 19, 1927 Absorbed by Wyoming Trust Co., Casper Hanna First National Bank 11666 1920 John Quealy S.D. Briggs 40,000 none May 2, 1927 Succeeded by Hanna State and Savings Bank Rock Springs First National Bank 3920 June 24, 1888 M.S. Eccles B.J. Carollo 100,000 98,800 Nov. 7, 1927 Succeeded by First Security Bank, Rock Springs Parco First National Bank 12558 1924 Patrick J. Quealy Otto Frederick 25,000 none Dec. 31, 1927 Absorbed by Parco State Bank Casper Stockmen's National 7083 Oct. 30, 1903 C.H. Townsend L .B. Townsend 50,000 50,000 Feb. 11, 1928 Absorbed by Casper National Bank Bank Sheridan Sheridan National Bank 8275 Apr. 30, 1906 A.K. Craig A.J. Ham 75,000 49,995 Mar 10, 1928 Succeeded by Sheridan Trust and Savings Bank Powell Powell National Bank 10565 June 12, 1914 J.E. Dowling 40,000 24,600 Feb 2, 1929 Succeeded by Park County Bank, Powell 5•490 fs) Mr-1=10" 1.11141111 N 5 I 6 0 4 3 B 14107i14.4.43 .41intakomitaufg IMAPINEVIMIDIV ° 269 SPATHE 1)1tV C5FEEUST1TES BONDS OLPOSITEDNIITH THETREASOLEIME l r,rti‘illd 746 •- 03 It1.4.4-444 Cri NATI" :"14 14Nu- 12533 Apirrirt:41,19flik 1.1 ate. MV,14,0 ' lgyk;441--Npm7 /-17:4-e/Jlefrifi4.). ( 7W? //j2,- 746 ownoft. Paper Money Whole No. 115Page 10 The Powell National Bank went into receiv- ership in 1924 but was re- stored to solvency two months later. The bank was so weakened, its president J.E. Dowling ultimately liquidated it in 1929. 60 50 N 0 n 13 O -- 30 to CC 0co 'CC 20 0 10 60 50 H 1*- 1924 2.5 30 20 10 5 0 Figure 2. Total resources of national banks operating in Wyoming bet- ween 1871 and 1935. Reporting dates are as follows: 1871-1914—end of third quarter: 1915-1935--year end (Comptroller of the Currency, various dates). Figure 3. Total national bank circulations for Wyoming national banks between 1871 and 1935. Reporting dates are as follows: 1871-1914—end of third quarter: 1915-1935—year end (Comptroller of the Currency, various dates). The First National Bank of Thermopolis was reor- ganized in 1925 as the First National Bank in Thermopolis . (to be continued) Paper Money Whole No. 115 Page 11 URIAL LISTING OF MISSOURI OBSOLETE NOTES & SCRIP by Bruce W. Smith ST. LOUIS ISSUES. Territorial and pre-territorial period. A LTHOUGH St. Louis was not the first settlement in Mis-souri, it quickly became the most important. Founded bythe French in 1764 as a trading post and outfitting sta- tion for the fur trade, St. Louis soon became the center of that trade. Its location on the Mississippi between the Missouri and Ohio rivers was ideal; from here trappers could go up the Missouri to the fur regions, and the furs could be shipped down the Mississippi to New Orleans. What trade was done at St. Louis in the 18th century was largely through barter—the primary standard of value were the furs themselves. Prices were quoted in terms of liyres (a French coin rarely seen) but payment was usually made in furs. Even taxes were payable in furs. The physical handling of the furs soon became a problem, so rather than actually exchanging furs for other commodities, a system of receipts was adopted. The furs were stored in a warehouse and the owner was given a handwritten receipt, which then circulated from hand to hand as a sort of primitive paper money. These receipts were known as "bons" (a French term meaning "good for"), and are illustrated in Newman's Early Paper Money of America. According to one source, the Spanish issued two types of paper currency during their occupation of the Louisiana Territory (Missouri was part of the Louisiana Territory until 1809). The first type of notes were known as "liberanzas" and were first used in the late 1700s. These circulated until about 1804 but were replaced in 1802 by treasury bills drawn on the Spanish Army & Marine Treasury at Havana, Both became obsolete when the United States purchased the Louisiana Territory from France, who had recently conquered Spain. Missouri Territory. From 1804 onward, St. Louis was the primary military outpost in the west. Two new types of paper currency soon appeared there. The first were warrants drawn on the U.S. Treasury at New Orleans. Though not intended to circulate, some early writers claim that these warrants, used to pay the troops there, did in fact go from hand to hand and formed a primitive currency. The second type of currency consisted of notes and drafts drawn on the first Bank of the United States at New Orleans. This was to be expected since New Orleans was the easiest place to get to from St. Louis and nearly all the furs went through New Orleans. These two forms of currency and the bank notes from Ohio, Illinois, Tennessee and Kentucky formed the paper money in use in Missouri until 1816. Bank Notes and Scrip issued in St. Louis during Territorial period BANK OF ST. LOUIS (first) Authorized August 1813. Opened late 1816. The opening of Missouri's first bank was delayed by the War of 1812 and a lack of sufficient capital. By late 1816 the money was at hand and the bank opened for business. If the new institution failed to impress the public, it was understandable; for the first seven or eight months of business. the bank was located in the rear of Riddick & Pilcher's Store on Main Street, and had to be entered from the alley. The bank's first cashier, John B.N. Smith, was removed from office in February 1818 when it was discovered that he and an associate in Kentucky were using their positions to bilk the bank of its specie. Apparently. Smith was using Bank of St. Louis notes to buy up out of state notes at a discount. The Bank of St. Louis notes were then presented by his associates and were redeemed in specie. This was used to buy more depreciated paper, which went to Smith. The cashier was then either circulating the foreign paper at face value or using it to speculate in land—a national epidemic at the time. The president of the bank discovered the scheme and refused to sign any more notes. By its charter, the notes of the bank had to have both signatures in order to be redeemed. Nevertheless. Smith continued to sign the notes and pass them with just his signature. After Smith was removed from office, the bank actually redeemed the one signature notes, though it was not required to do so. News of these affairs soon became public and a group of stockholders in the bank decided to take over the bank. The committee marched to the bank, ordered everyone out, and occupied the building. The officers and directors, however, refused to hand over the keys to the vault. Two representatives of the U.S. Army were on hand and they ordered the bank closed until tempers cooled and the books could be examined. But tempers did not cool. Two duels followed between Thomas Benton (a director of the banks' rival, the Bank of Missouri; later to be known as "Bullion Benton," due to his hatred of banks) and Charles Lucas, son of one of the founders of the Bank of St. Louis; Lucas was killed in the second duel. A few days earlier someone had tried to poison the former cashier John B.N. Smith and his family. By this time the bank had lost the confidence of the public. When the bank reopened, a run began on its specie; in a short time, it had paid out $14,000. By September 1819 the bank was closed. By its charter the bank was allowed to issue up to $300,000 in notes, but it is unlikely that figure was ever reached. In December 1818 the bank's president reported that the circulation had been reduced to $51,000. Most of the notes from this bank were printed by Leney & Rol- linson of New York and bear their imprint. One source, however. indicates that some of the notes may have been printed by S.T. Toncray of Shelbyville, Kentucky on watermarked paper. fit~14 all 4W 01.414, -,f 132 7Ywi. TVA 3 Dollars 1190 9 111 lk • fr Page 12 Paper Money Whole No. 115 Notes Issued 25C Reported. Design unknown . $1.00 Eagle on cannon, center. ONE in panel at either end. "1" on die top left and right corners. Roman numeral I on die, bottom center. Imprint unclear, probably Leney & Rollinson. $2.00 Indian shooting buffalo, center. TWO in panel at either end. "2" on die upper left and right and at bottom center. Imprint: Leney & Rollinson. (III.) $3.00 Man plowing with two oxen. Printer: probably Leney & Rollinson. $3.00 No vignette. "3" at top center. ST. LOUIS in panel left. THREE DOLL. in panel right. No imprint (Toncray?). $5.00 Man approaching beaver caught in trap, center. FIVE in panel at left and right end. "5" on die upper left. Roman numeral V on die upper right and bottom center. Imprint: Leney & Rollinson. $10.00 View of St. Louis, center. TEN in panel to either end. "10" on die upper left: Roman numeral X on die upper right and bottom center. Imprint: Leney & Rollinson. (Note: This is the earliest known view of the city.) $20.00 View of shot tower on top of bluff with town of Herculaneum beside river below. "20" on die upper left; XX on die upper right and bottom center. TWENTY in panel left; "20" in panel right. Imprint: Leney & Rollinson. (Note: Herculaneum was a lead mining town 30 miles south of St. Louis. By the 1830s it was largely abandoned; by the 1880s it had disappeared. The site is now occupied by Crystal City.) Post Note Wismer reports a proof, post note dated 181 with a man driving horse center, BANK OF ST. LOUIS right and POST NOTE left. BANK OF MISSOURI Authorized January 1817. Opened December 1816, Closed August. 1821. From 1817 to 1819 this bank was located in August Chouteau's house on Main Street. In the latter year it was moved into a brick building at 6 North Main. Chouteau, the president of the bank, was the man who founded St. Louis in 1764. The bank also had a branch in St. Genevieve, down river 65 miles from St. Louis, which opened in 1818. There was a good deal of bitter- ness between this bank and its rival. the Bank of Illinois at Shaw- neetown. The two frequently engaged in playing "dirty tricks" on each other. One reason for the rivalry was that the Federal Government had selected the Bank of Missouri as its western de- pository for money received from land sales and taxes. Finally. in 1819, the Bank of Illinois was also designated a government depository which was fortunate for the U.S. Government; in 1821 the Bank of Missouri failed and the government lost $159,199. More money would have been lost if the Bank of Illinois had not been made a depository. Under its charter, the bank could issue up to $500,000 in notes, but according to statements published by the bank, at no time did its circulation exceed $154,000. Some selected figures will show the progress of its circulation: October 1818, $100.002; June 1819, $41.275.50; June 1821, $65.056.50; August 1821, $84,301 plus $1045 for its branch at St. Genevieve. The charter prohibited the issue of notes by branches, but this rule was sidestepped by issuing the notes in St. Louis. payable in St. Genevieve. and then shipping them down to the branch. Notes Issued 25C No description available. 50C Typeset note. No description available. Imprint: Murray, Draper, Fairman & Co. $1.00 Bust of Jefferson on pedestal, center, with ships and sunrise in background. In the text of the note is a space for writing in the place of redemption (St. Louis or St. Genevieve). Im- print: Murray, Draper. Fairman & Co. $3.00 Same as preceeding, but no space for place of redemption. //////// of titx' N ./.2/////./.44 ///Y/////e//// Mill' •ITV OF UNC"r*C1 DEPOSM -",7.1/?1, r Paper Money Whole No. 115 Page 13 $5.00 Same as preceding but no space for redemp- tion. Label JEFFERSON appears above the bust. MISSOURI in right panel: FIVE in left panel. "5" on die, upper left; V on die, upper right. Imprint: Murray, Draper, Fairman & Co. $5.00 Same as preceding, but has space for place of redemption. Bust of Jefferson not labled. "5" on different die, upper left. Imprint: Murray, Draper. Fairman & Co. (III.) $10.00 Similar to preceding but vignette is toward bottom of note. Label JEFFERSON appears beneath the bust. No space for redemption. MISSOURI in right panel; TEN in left panel. "10" on die upper left; X on die upper right. Imprint: Murray, Draper, Fairman & Co. $10.00 As preceding but no label beneath bust. (Prob- ably has space for place of redemption, but I have not seen this note.) $20.00 No description available, probably same as pre- ceding. MISSOURI EXCHANGE BANK Opened 1819, Closed April 1821 This private bank, not chartered by the territorial government, was organized by William M. O'Hara. last cashier of the Bank of St. Louis. O'Hara opened his bank at 58 South Main only one block from the only other bank in the territory, the Bank of Missouri. From the available evidence, the firm seems to have been a fairly solid operation. Unfortunately, the territorial legis- lature passed a law in 1820 outlawing private banknotes after April 1, 1821. In May 1821, O'Hara left St. Louis on a business trip and died three months later. Notes Issued 12 1/2e No vignette. Large "12 1/2" top center. MIS- SOURI in right panel; "12 1/2" in left panel. Printed date October 1st, 1819. Imprint: P. MAVERICK. DURAND & CO. (III.) 25e Same as preceding except for denomination. 50e Same as preceding except for denomination . In addition, has "50" in upper left and right corners. 75e Same as preceding except for denomination. $1.00 Portrait of Jefferson in oval top center, behind which are a plow, paper. pen and books. - 1" on left die; ONE on right die. MISSOURI in right panel; ONE in left panel. Written dates. Imprint: P. MAVERICK, DURAND & CO. $2.00 Sheaves of wheat, plow, rake, hoe and other farm tools center, with "2" on left die; TWO on right die. MISSOURI in right panel; TWO in left panel. Written dates. Imprint: P. MAVERICK. DURAND & CO. $5.00 Design unknown. (Note: Muscalus reports the existence of a sheet of two $5.00 notes from this bank.) PRAT & ARMSTRONG According to one source, notes put out by this firm were in circulation in St. Louis in 1818. The notes were redeemable at the Miami Export Company—an Ohio firm. It is not clear whether these notes were issued in St. Louis or simply circulated there. The notes were in fractional amounts, but no description is available. Page 14 Paper Money Whole No. 115 ST. LOUIS POST OFFICE (AND LAND AGENCY) As early as 1818, Aaron Crane, an early St. Louis postmaster, was issuing fractional scrip. The notes read on one side: ST. LOUIS POST OFFICE, and on the other ST. LOUIS LAND AGENCY. 25C No description available 50( No description available 750 No description available ST. LOUIS DRUG & MEDICINE STORE Nothing is known of this firm, which issued fractional scrip around 1817. The notes are signed by R. Simpson. 500 Crude note with federal eagle and shield vignette center. ST. LOUIS in left panel; FIFTY CENTS in right panel. Printed date April 1st, 1817. ST. LOUIS EXCHANGE & LAND OFFICE ST. LOUIS EXCHANGE BANK Organized in 1818 by Stephen R. Wiggins who also ran the St. Louis & Illinois Team Boat Ferry. This firm dealt in exchange, notes, drafts, land certificates, treasury warrants and also issued fractional scrip of its own. The issue of the scrip was prohibited by a law passed in 1820, which became effective the following year. The Team Boat Ferry also issued scrip, payable at the Exchange & Land Office, and since I have not seen the Land Office scrip, it is possible that it is the same as the Team Boat scrip. On the other hand, there could be two separate issues. 12r/z 0 No descriptions available on these; 250 all were printed by, and bear the imprint 500 of P. MAVERICK, DURAND & CO. 750 ST. LOUIS & ILLINOIS TEAM BOAT FERRY This ferry line was also organized by Stephen R. Wiggins and operated until nearly the end of the century, long after Wiggins' death in 1853. The notes are redeemable at the St. Louis Exchange & Land Office, another Wiggins enterprise. 50C Similar to the following. Imprint: P. MAVER- ICK, DURAND & CO. 750 Large "75" upper center, surrounded by heading ST. LOUIS & ILLINOIS TEAM BOAT FERRY. No printed date. MISSOURI in right panel; ILLINOIS in left panel. Imprint. P. MAVERICK, DURAND & CO. Currency Issued Since Statehood (1821) BANK OF ST. LOUIS (second) Organized 1857, Closed 1865. This was one of several banks of issue organized under the Banking Law of 1857. The bank had branches at Boonville arid Kirksville, and branches are also reported at Cape Girardeau and Savannah. These last two, however, are doubtful. By an act of March 18, 1861 the name of the bank was changed to the Bank of Commerce and its headquarters was moved to Boonville. It does not appear, however, that this change was ever carried out, as the bank was still listed under its original name in the St. Louis City Directories for 1864. The following year a special act of the state legislature allowed this bank to join the national banking system as the St. Louis National Bank (charter 1112). All known notes on this bank were redeemable at Kirksville but bear the signatures of the St. Louis officers. Apparently all notes were signed at the head office in St. Louis and then shipped to the branches. Each note has a blank space in which the place of redemption is written. Why all the notes were payable at Kirksville is puzzling. Of the several banks of issue chartered in 1857 (all but two of which had their head offices at St. Louis), not a single note is known payable in St. Louis. And yet, all of the notes of all the banks headquartered in St. Louis are signed by the St. Louis officers. Apparently the notes were then sent to the various branches and placed in circulation. However. contemporary reports refer repeatedly to the difference in value between notes issued by St. Louis banks and notes issued by their branches. Presidents of the St. Louis office were: John J. Anderson, R.P. Hanenkamp and William E. Burr. Cashiers were: John Brown, D.C.D. Van Arnam, William E. Burr and Louis C. Billon. The author would appreciate hearing of any notes from this bank with signatures other than these. Notes Issued $1 00 C. Indians hunting buffalo, ONE below. R. Dog and safe; "1" above. L. Female portrait; "1" above. IMPRINT: American Bank Note Company. Philad. Not countersigned. First issued 1861. $2.00 C. Black and white horses frightened by light- ning, (from painting "Black & White Beauties"); cattle in background. TWO below. R. Numeral "2" in upper and lower corners. L. Little girl's portrait: 2 above. Imprint: ? probably ABNC. First issued 1861. $5.00 C. Man at mill door carrying sack over shoul- der; horse, colt; two boys fishing. Large FIVE below. Small eagle and shield at bottom. R. Numeral "5" above: FIVE below. L. Large portrait of woman; MISSOURI below. IMPRINT: Toppan, Carpenter & Co. Philad. Countersigned by Bank Commissioner at left end (issues after 1861 might not be counter- signed). $36,000 worth of $5 notes issued through February 1861. $10.00 C. Several steamboats lined up at wharf; freight on wharf. men, drays, etc. TEN below. R. Male portrait; "10" above. L. Two men dressing leather; X above. IMPRINT: ? Probably TC & Co. (This was the first type $10 issued: should be countersigned by Bank Commissioner.) $10.00 C. Steamboat center, city, flatboat and hills in distance. R. Oval male portrait with "10" above. L. Female portrait with X above. IMPRINT: ? probably ABNC (continued on p. 34) Paper Money Whole No. 115 Page 15 Ireland's American Colleen by Derek Young, NLG (This article first appeared in the 1 December 1976 issue of Coin World under the title "U.S. Beauty Decorates Irish Notes." It was reprinted in a slightly different form, under the title "Ireland's American Colleen" in the Irish Numismatics section of Coin & Medal News, January 1984. To both publications and the author, Derek Young of Dublin, Ireland, we are grateful for permission to present this article to readers of Paper Money.) "She was a gifted painter. She had a talent for drawing that was quite remarkable. She was very beautiful and possessed the largest and most heavenly eyes I had ever seen. She loved Ireland and explored every corner of the land. She wandered about Ireland in a dream finding out that she was really Irish. To her it was the Ireland of Yeats, James Stephens, A. E., Lennox Robinson, Synge and the rest." Hazel Jenner Martyn Lavery, at age 47, as she was painted by her husband, Sir John Lavery, on the special commission of the Currency Commission of the Irish Free State in 1928. Hazel leans on a 26-string harp, in a wide- eyed but pensive mood. When John Harrison of Waterlow & Sons engraved the portrait, he reversed the picture so the model's back would be turned outward. Page 16 HUS wrote Sir John Lavery about his wife Hazel, and anyone who has ever seen an Irish legal tender note of the old design will know that Sir John was not just a biased lover when he spoke of her beauty and heavenly eyes. For it is Hazel Lavery's portrait which has adorned Irish legal tender notes issued from 1928 to 1977. She was born Hazel Jenner Martyn in Chicago in 1881, the daughter of a wealthy businessman. From an early age she showed artistic promise and, in 1898, when she was 17, her mother took her on a trip to Europe to broaden her horizons. While having her portrait painted in Brittany she met the artist John Lavery and a mutual attraction sprang up between them. Lavery was then 42 and establishing himself as a portrait painter. Hazel's mother took fright when she saw how the situa- tion was developing — especially since Lavery had a liaison with another woman at the time—and promptly sent a cable to Hazel's fiance, a Dr. Trudeau in Chicago, to come and marry her daughter. The young medic complied with alacrity, hurried across the ocean, and the marriage knot was tied, thereby put- ting Hazel out of harm's way. Dr. Trudeau took his teenage bride back to America but was not destined to enjoy the pleasures of the marital couch for long. Within a short time he passed away. leaving Hazel not only a young widow but a preg- nant one at that. John Lavery's own experience of marriage had been some- what similar. In 1890 he had married a County Mayo girl called Kathleen MacDermott, but she died a year later of pulmonary tuberculosis. having given birth to a daughter. Eileen. Hazel was also destined to have a daughter by the recently ex- pired Dr. Trudeau, and some time after the birth she returned to Europe and in Paris her path once again crossed that of John Lavery. In 1910 they were married in London's Brompton Oratory —Lavery then being 54 and Hazel 29. Despite the dif- ference in their ages the marriage was an extremely happy one and Lavery was entranced by the beauty of his young wife. After their marriage the Laverys lived for a while in Morocco and then settled in London at No. 5 Cromwell Place. Soon their house was a meeting place for artists, actors, authors, politi- cians, generals and journalists, and Hazel was the main attrac- tion. "My studio," wrote Lavery, "was now the meeting ground of a large number of famous people, but these people did not come to see me, they came to see Hazel." Among the celebrities who visited Cromwell Place were a large number of Irish ones—which is not surprising as Ireland has always supplied Britain's capital with a large number of its leading figures. Among them was Bernard Shaw whose portrait Hazel began to paint. After a couple of hours posing he looked at her canvas. "My dear," he said, "the worst portrait that has been done of me." When her eyes filled with tears he hastily add- ed, "But I'm coming back for another sitting." When the Irish Treaty delegates crossed to London in 1921 they frequently met in the Laverys' house where they were entertained along with many of their antagonists. At one party Lord French was a guest along with Michael Collins who had had a hand in planning his assassination. Lord Birkenhead (F.E. Smith) was another guest and on one occasion Hazel's little dog began to paw him under the luncheon table. Paper Money Whole No. 115 Birkenhead flirtatiously remarked that he thought it was Hazel herself making advances whereupon up sprang Michael Collins thundering "D'you mean to insult her?" Pouring oil on troubled waters Hazel said "Lord Birkenhead was only joking," to which Collins growled "I don't understand such jokes." but resumed his seat nevertheless. By this time the occupants of Cromwell Place were Sir John and Lady Lavery, a knighthood having been bestowed on the artist in 1918. He was also a member of the Royal Academy—not bad going for the son of a Belfast wine mer- chant. Lavery had been born in that city in 1856 but upon his mother's death — shortly after she had been deserted by his father — he had been sent to Glasgow to be reared by relations. Among the many famous personalities whose portraits he painted were King George V and Queen Mary — which no doubt explains the knighthood. Winston Churchill was another of his sitters and, in fact, the compliment was returned when he sat for Churchill. It was the "Troubles in Ireland" which made the Laverys become interested in that country. As well as that. Sir John was now painting more and more Irish subjects and Hazel became involved with them personally. Although born in America she was herself part Irish and had connections with the Martyns of Galway. When Edward Martyn, who helped to found the Ab- bey Theatre with Yeats and Lady Gregory, met her for the first time he said to her : "you can't be a relation of mine ; we never had a beautiful woman in our family yet." After the signing of the Treaty, which brought about the crea- tion of the Irish Free State, the Laverys began to spend more and more time in Ireland. They were close friends of the leading political figures of the day and Kevin O'Higgins determined that Hazel should become Vicereine of Ireland. A week before O'Higgins died. Winston Churchill said to Sir John : "Are you ready for the Vice-Regal Lodge, John'? We're in favor of Mr. O'Higgins' plan here." With O'Higgins' death the plan was shelved. In her journal for August. 1922 Lady Gregory wrote: "I had a letter from Lennox Robinson written on Monday night — Collins is safe and dined with Sir Horace Plunkett in Foxrock on Satur- day. He came in Lady Lavery's train or rather she in his. for she is his abject admirer." The following Tuesday Collins was killed in Cork. Sir John was permitted to paint him lying in state in the mortuary which resulted in the painting "Love of Ireland" which hangs in the Na- tional Gallery. Hazel had psychic traits and in his autobiography Sir John wrote : "Hazel woke up screaming one night. Next day she was strange and silent. She used to have fearful premonitions. Once she told me after Sargent had dined with us that he was about to die — and he died. When I tried to get her to talk she said at last `All day I have seen them carrying Michael covered with blood. I cannot get rid of the sight.' "I got her to bed and sat with her until well into the night. At last she went to sleep. The next morning her very English maid came into the room with tea and said, in a soft voice showing not the slightest trace of interest 'They have shot Mr. Collins, my lady."' When it was decided that the Irish Free State should have its own currency Sir John Lavery was commissioned to paint "an emblematic female figure" to form the principal feature on the hmemeaasssassitaormr • '7;3 (1. 11 ILN ( Y COMM ISSION (011SIEN.11161911EATIL S.U■1■STAT EME,\NN LEGAL NOTA TE N DE Nit yrE ,0000 13'5'00 A000000 11:1 S 11 11 tEE 774alrxP4-5_ Paper Money Whole No. 115 Page 17 An Irish colleen leaning on a clairseach (Irish harp)? Not on your Blarney stone! It's Miss Hazel Jenner Martyn who was born in Chicago. Illinois in 1881. The bonny lass, an artist. won the hearts of the leprechauns of the auld sod and a place on their paper money. front of the legal tender notes. Early in January, 1928 Joseph Brennan, the Chairman of the Currency Commission, reported to his colleagues that Sir John had agreed to paint the figure, that he was to complete the work within a fortnight and that his fee would not exceed 250 guineas. The head and shoulders with the hand eliminated was placed on some denominations. The commission would be the owners of the painting and of the copyright. On Jan. 18 photographs of the painting were submitted to the commission, and it was decided that the head and shoulders with the hand eliminated should be placed on the notes of the three smaller denominations, and that a reproduction of the whole picture should be placed on the notes for the denominations of 10 pounds and upwards." Although the original suggested fee had been 250 guineas, Sir John was prepared to do the work for a more nominal fee of 100 guineas. However the Commission felt that the higher fee should be offered and Sir John accepted, writing "it is extremely nice of you to pay my fee for the picture which you commissioned although I proposed accepting a nominal one." The notes were printed in England by Waterlow & Sons. That firms' chief portrait engraver, John Harrison, was commissioned to engrave the dies. Harrison reversed the portrait and some observers have expressed the opinion that the engravings are an improvement on the original work. When Sir John himself saw the first printed notes he commented in a letter to Mr. Brennan. dated Sept. 12, 1929: "I think the design and colors excellent. I can foresee the criticism of the head which will be less justified in the higher denominations. In any case the Irish Free State has paid a high compliment to my wife for the part she took in help- ing to bring together the unfriendly elements towards the Treaty and to me as an Irish artist." In The Irish Times of Sept. 14, 1928, it was observed that "the striking resemblance between the colleen painted by Sir John Lavery on the new Irish Free State currency notes and Lady Lavery, has been commented on by many persons" and it was reported that, when questioned, neither Sir John nor Lady Lavery had denied the suggestion. And why, indeed, should they deny it when it was a well- known fact that Hazel Lavery was the model. When the portrait was commissioned the then President, W.T. Cosgrave. assured Hazel that "she would be carried by every Irishman — not to mention the foreigners who visited Ireland—next to his heart." As most wallets are carried on the right side and as a lot of Irishmen keep their paper money in their hip pockets, President Cosgrave may have been far out anatomically, but at least the thought was there. Page 18 Paper Money Whole No. 115 Sir John never ceased to rhapsodize about his wife and had painted her portrait many times before. One such painting is in the National Gallery and another in the Municipal Gallery. The one commissioned for the currency notes had pride of place in the office of the Currency Manager in the Central Bank in Foster Place — where the writer saw it — before the Bank moved to its new headquarters. No doubt it also has a place of honour there. What could be more natural than that Sir John would want his beautiful wife to appear on the notes of the new state? Some sources have stated that Harrison, Waterlow's en- graver, when commissioned to engrave the dies for the new notes, adapted a previous portrait which Sir John had painted of Hazel and which Harrison had previously engraved for a series of bookplates in the early 1920s. This is refuted by the Central Bank, which states emphatically that the portrait was specially painted for the purpose. At the time the commissioned portrait was painted Hazel Lavery was almost 47 years old while the "Irish colleen" looks like a girl in her twenties. Perhaps Sir John did an idealized portrait based on a previous one as Hazel was at that age or perhaps when she was 47 she really did look 20 years younger. Mary Kenny, writing in the Sunday Independent of Oct. 31, 76, recounts an anecdote about her mother meeting Lady Lavery coming off the mailboat in Dun Laoghaire in 1927: "This exquisite woman appeared. Elegant and dark, dressed in blue and pink, with pearls at the neck and pearl earrings. She stood there, and opened her case for the Customs Officer, and the perfume that came out of that suitcase, packed with silk underwear, was just unforgettable. Her charm and elegance just stopped everyone in their tracks. The Customs Officer regarded the beautiful suitcase and inclined his head. 'That's all right, Lady Lavery' he said, and she went on her way." Hazel Lavery died in 1935. aged 54, of cancer. Sir John lived to be 85, and died in 1941 in Rossennara House. Kilmoganny, County Kilkenny. Beginning in 1976 a new series of legal tender notes replaced the ones on which the "Irish colleen" appeared, but the haunting face of Hazel Lavery didn't disappear from the scene altogether. Sir John Lavery's portrait of his beautiful wife has now been adapted to form the distinctive watermark on the new series of notes. She is, however, only a shadow of her former self. ■ $ 50 COMPOUND INTEREST TREASURY NOTE An Incorrect Date Gene Hessler F OR those of us who are interested in uncovering the circumstances that relate to the issuance of all types of fiscal paper, there is a phenomenon that we experience more often than not. During the investigation of a subject, invariably a topic of equal, similar or contrasting interest will come to our attention. While looking for something else in the index of The New York Times for the year 1885, I stumbled on the subject that will follow. The article will give all the necessary background. A MISTAKE IN THE DATE ANNOYING THE OLDER TREASURY OFFICIALS. AN IRREGULARITY FOUND IN PRINTING THE COMPOUND INTEREST NOTES — WASHINGTON, July 7. — Some of the older Treasury officials are much annoyed at the discovery just made that a number of fifty-dollar compound interest notes issued in 1864, and recently redeemed, bear upon their face the wrong date of the act under which they were issued. This is also the case with a lot of ten-forty coupons issued the same year, which are now found to be dated a year in advance of their enabling act. In passing upon the accounts and vouchers of the United States Treasurer the First Auditor's office discovered a compound interest note already canceled which from its general appearance created the suspicion that it might be counterfeit. The suspected note, with a few genuine ones, was sent to the Bureau of Printing and Engraving for expert opinion. They were all pronounced good, but attention was called to the fact that the date of the act authorizing their issue had evidently been changed on the plate. This caused First Auditor Chenowith to hunt after the act referred to, but he could not find it in the Congressional Globe on the date indicated, July 2, 1864. Further search among redeemed compound interest notes showed that some were apparently authorized June 30, 1884, and some July 3, 1864. In the Congressional Record of July 2 was found an act passed June 30, but nothing subsequent to that in the way of amendment rewarded the closest search. Secretary Manning could tell nothing about it, neither could Treasurer Jordan. Finally when all the officials got together the conclusion was reached that there was nothing fraudulent in the matter. This appears to be a misprint. The other authorizing act was passed on 3 March 1863. _amt. DT../0 (limpoumb ii iitin/ ////77////, 1.1 1t1ASIi tY.N04.1 Paper Money Whole No. 115 Page 19 Whoever had issued the order for the engraving of the com- pound interest note plate had read the law passed June 30, 1864, in the Record of July 2, 1864, and had taken it for granted the act was passed on the date under which it was printed. Then employes who had been in the department during the war remembered that this error had been discovered in a few days and that orders were given to change the date on the plate. In all these years nothing had occurred to call close attention to the notes and the cir- cumstance was forgotten. The First Auditor was certain at first that a grand steal had been unearthed, but now that it is satisfactorily explained he thinks that the circumstance is evidence of the condition of things at the seat of Federal Government during the last year of the war. The discovery has set the clerks in the department rummaging through a lot of old redeemed war issues. They have found that the date of the enabling act of the ten-forty coupons was printed March 3. 1863, when it should have been 1864. Other errors of this kind will probably be found, now that everybody's attention is directed to dates. Con- troller Cannon does not think there is anything surprising in these cases, considering the time and circumstances under which the money was issued. On 14 July there was an article that reconfirmed many of the statements in the earlier one. Controller [sic] Durham decided that the note was genuine, issued under and by virtue of the Act of 30 June 1864. He went on to say that "the note conforms in every particular to the requirements of said act : that it was un- necessary to inscribe on the note the date of the act under which it was issued ; that the inscription on the note, 'July 2, 1864.. was done through mistake." "The Controller [sic] cites several decisions of the Supreme Court to sustain his decision." He estimated that about $15.000,000 of the erroneously dated notes were issued. and approximately $10,000 were outstanding at the time. Upon reading, or hearing about the mistake in printing, most citizens, at that time, were probably anxious to redeem the "er- ror" notes. If such a mistake occurred today, collectors would be searching for the notes, even willing to pay a premium to get one. And, if one is uncovered, a premium over and above the collector value will be paid. To the best of my knowledge I have never heard of an existing note of this type with the incorrect date. So, unless examples are brought forward, we can assume that most, if not all $10,000 was redeemed. ■ A $50 compound interest bearing treasury note with the authorized date of June 30th. 1864. The portrait of Alexander Hamilton was engraved by Owen G. Hanks. The vignette on the left is entitled Loyal- ty, it was engraved by Charles Burt. Chidester Stage (continued from p . 5) Old stage coach and railroad passes dated in the 1880s were found in a dresser drawer in the Chidester home. Many other stage coach lines in the west, and even some railroads, sent passes to Chidester in exchange for his pass. These very in- teresting records of these old lines include one from the Western Stage Company, operating in thirteen western states and ter- ritories. Others were from the North Louisiana Stage Company ; the steam ferryboat "John Overton" connecting Hopefield, Arkansas, with Memphis ; the Great Western Railroad the Vicksburg. Shreveport and Pacific Railroad ; and one of his own passes, "Arkansas, Texas and Pacific Mail Co., Camden. Arkansas." (Pictures of these historic old passes will be found in the book "Arkansas Obsolete Notes and Scrip" to be published in June 1985.) Paper Money Whole No. 115Page 20 Those Controversial Late Finished Plates by Peter Huntoon M ICHAEL Kane (1984) wrote a very interesting rebuttal to my article (Huntoon, 1984) on late finished plates in which he protests my use of the term instead of "trial plates." The notes of interest are a suite of unusual face and back plates that have macro size plate numbers. yet the numbers themselves belong to the old micro number range. Mr. Kane argues that these plates were the first to be made with macro numbers. As such, he considers them to be experimental in nature despite the fact that they were not sent to press until other macro plates of like type were already in use. Unfortunately Mr. Kane missed a crucial point that invalidates his position . The reality remains that the late finished plates were not the first macro plates made. Here is why. Macro plate numbers were not engraved on these special plates until long after the conversion to macro size numbers took place in Jan- uary 1938. Therefore they could not have been either the first macros or experimental in any sense of the word. The manufacture of the plates in question began as early as 1934 in the case of $20 plate 204. All this means is that plate numbers were assigned to pieces of steel. Other preparatory steps may or may not have been taken at that time. It is certain that no plate numbers were engraved on those plates when they were begun. When they were finally completed—the last engraving task is the addition of plate numbers—the conversion to macro numbers was already an established, historic fact. Bureau per- sonnel engraved the plates with the then current macro size numbers. There was nothing first or experimental in this at all. All that was odd was that the micro vintage numbers ended up as macros, thus creating what I consider to be a most unusual variety. 371 Aso? Late finished $5 silver certificate 307 face plate. Begun on April 6, 1936, as a series of 1934 micro plate, finished July 3, 1942. as a series of 1934A macro plate. Note the conversion to macro numbers was begun in January, 1938, over four years before plate numbers were finally engraved on this plate. I can illustrate the plate completion process with another story. The first time I visited the Bureau of Engraving and Prin- ting, I was in the company of Chuck O'Donnell. Chuck was researching 1928 and 1934 FRN $5 face plates at the time and came upon a plate that was "begun" and assigned a plate number in the 1928 series. Its completion was delayed and Chuck discovered that it was finally finished as a 1934 plate. We wondered at the time if it might have retained the 1928 gold clause instead of the 1934 obligation! We were most excited un- til someone showed us that begun meant only that a number was assigned to a piece of steel, and the particular piece of steel we were concerned about had nothing on it until it was com- pleted as a standard 1934 face plate. The late finished plates dis- cussed above have similar if not identical stories to tell. Mr. Kane makes the following series of erroneous statements: There is no doubt the bureau debated, procrastinated, and had innumerable disagreements about these first prototype plates. In fact, if the tables are correct (tables in Huntoon, 1984), the bureau took just over three years from the day the first prototype was struck (sic) until the first macro plate was used in an issuance. This seems like a commensurate time lag considering bureaucratic decision-making, especially such a major change in its printing policies. Nothing in the record reveals any truth to these statements and assumptions. Once the decision to use macro plate numbers was made in January, 1938, the conversion passed smoothly to all plates including the unfinished, late finished group. The conversion to macro plate numbers appears to have been no big deal at all. Mr. Kane demands to know why I "insist on refuting Chuck O'Donnell's" work. One point that I certainly wish to clarify is that my intent was not to impune Chuck's contributions. Chuck remains one of my oldest friends in this hobby—our association dates from 1963—and we have shared a fine working relation- ship for years as we pick away at mutual research interests. I got lucky and found new data on the late finished varieties that Chuck did not have at his disposal when he wrote his catalog. Once I discovered the true reason for these varieties, I would have been remiss in not sharing the information with you. The following acknowledgement summarizes my appreciation for Chuck's work "Chuck O'Donnell, by cataloguing these varie- ties, stimulated my interest in them." (Huntoon, 1982). In my 1984 article, I concluded: The late finished plates do not owe their origin to experimen- tation as first thought; however they are every bit as unique and interesting. They do, in my opinion, constitute an inter- esting minor variety. Leon Goodman wrote me several years ago and described the discovery of the late finished varieties. He says: "I had discovered the 86 and 87, and later the 307. Chuck O'Don- nell discovered the 204 at approximately the same time." No mention was made of $1 back 470. I do not know who came up with the "trial" theory: Chuck, Leon, or John Schwartz. ■ REFERENCES CITED Huntoon. P., "20 FRN Back Plate 204 and Other Late-Finished Plates:" Paper Money, v. 21, 1982, pp. 174-175. Huntoon, P., "Late Finished Plates Used to Print Small Notes:" Paper Money, v. 23, 1984 pp. 122-125. Kane, M., "A Different View of Late Finished Plates Used to Print Small Notes:" Paper Money, v. 23, 1984, p. 235. O'Donnell, C., The Standard Handbook of Modern United States Paper Money, 6th edition: Harry J. Forman Inc., Philadelphia, 1977. 342 pp. CE TIFIC TE. N!:"Apo/ st 1682.iowa, S ('ert // (I / /4' r4/ Uhfr/ii/e/lore,own'1 ",/?../ 7 //IC. 13.)3//* Y.? (/ r4i47/Coe r /r7k1 iry e'Xf (7mi?7<://? Praff;9:74w- .4".. 7.74- ,Ifz e /1(1;7f,, 1We/17/47,6'i/a Paper Money Whole No. 115 Page 21 Wailroad Notes and Scrip of the United States, the Confederate States and Canada by RICHARD T. HOOBER (Continued from PM No. 114, Page 278) NEWTON—CHICAGO, BURLINGTON & PACIFIC RAILROAD COMPANY The line was incorporated January 29, 1880. On April 1, 1882, it was sold to the Central Iowa Railway Co., which guaranteed redemption of the issued notes. 23. 1.00 (L) Locomotive, 1 above. (C) Green 1. (R) Farmer plowing with two horses. Date—April 1st, 1882. Imprint —Henry Seibert & Bro. Lith. 12 & 14, Warren St. N.Y. R7 Iowa No. 23. LOUISIANA BATON ROUGE—BATON ROUGE, GROSSE-TETE & OPELOUSAS RAILROAD COMPANY 1. 1.00 (L) Indian on cliff, ONE DOLLAR. (C) Train on viaduct. (R) ONE DOLLAR. Red and black print. Ornamental green reverse. Date—July 1, 1873. Imprint —Corlies, Macy & Co. Stationers, 39 Massau St. N.Y. R7 CLINTON—CLINTON & PORT HUDSON RAILROAD COMPANY The road was incorporated February 7, 1833, and a narrow-gauge track was laid between the two towns, a distance of 22 miles. This road was sold under foreclosure March 5, 1853, and a new company was formed to acquire the property. The company also owned two miles of line running from Port Hudson to Port Hickey. In October 1889, nine miles from Clinton to Ethel were deeded to the Louisville, New Orleans & Texas Railway, and in December 1899, the remainder was sold to the Financial Improvement Co. ts-.Y/ ri't Page 22 Paper Money Whole No. 115 2. 25( 3. 50IX 4. 1.00 Louisiana No. 1. (L&R) 25 CENTS in panel. Similar to No. 2, except for denomination. Similar to No. 2, except for denomination. R5 R5 Louisiana No. 4. 5. 2.00 Similar to No. 2, except for denomination. R5 6. 3.00 Similar to No. 2, except for denomination. R6 7. 5.00 No description. R7 8. 10.00 No description. R7 9. 20.00 (L) 20, train above and below. (R) Two women with shield bearing XX, 20 in lower corner. R6 10. 50.00 No description. R7 11. 100.00 No description. Date—Sept. 1, 1862. Imprint—Draper, Toppan, Longacre & Co. Phila. & N.Y. R7 Paper Money Whole No. 115 Page 23 11A. 5.00 (L&R) Riverboat, 5 above and below. (C) Commerce seated, between trains. Date—Jan. 1, 1837, part ink. Imprint : Draper, Toppan, Longacre & Co. R7 Louisiana No. 11A. JACKSON— CLINTON & PORT HUDSON RAILROAD COMPANY 12. 10.00 No description. R7 13. 20.00 No description. R7 JEFFERSON CITY— JEFFERSON CITY RAILROAD 14. 3.00 No description. R7 MONROE— VICKSBURG, SHREVEPORT & TEXAS RAILROAD COMPANY The company was chartered in 1853 and opened in 1861. It ran from Delta to the Texas state line, a distance of 190 miles. Later, the road was reorganized as the North Louisiana & Texas Railroad. Following damage incurred during the war, the line was reopened in 1870. Reorganization occurred in December 1879, under the title of Vicksburg, Shreveport & Pacific Railroad. As a result of subsequent mergers, the road eventually came under the control of the Illinois Central Railroad. 15. 25 t (C) Train in green. (R) 25 in upper corner. R4 16. 5(K (C) Train. (R) 50 in green. R4 17. 500 (L) Red 50. (R) "Receivable for all duties . . . ." R3 18. 1.00 (L) Red ONE. (R) "Receivable for all duties . . . ." R3 19. 1.00 (L) Indian woman. (C) Green train. (R) Ornamental panel. R3 20. 1.00 (L) Ornamental panel. (C) Green train. (R) 1 above, ONE below. R4 21. 2.00 (L) Justice. (C) Train. R4 lc,ur A'cteifur chit at the Bank of NORTH AN RICA, / may- ISO -14eVri5: /) Dont:, Page 24 Paper Money Whole No. 115 The Enigmatic Stephen Girard by Edward Schuman H ISPANIOLA is the second largest island in the West In-dies, located between Cuba and Puerto Rico.Christopher Columbus discovered the island in 1492 and claimed it for Spain. The first French settlers were pirates who used the small island of Tortue, north of Hispaniola as a base in the 1600s. Spain recognized French rule of the western part of the island in 1697. The French brought African slaves to farm their great plantations, but treated them so brutally that numerous uprisings took place. The result of one of these insur- rections ultimately affected the destiny of the United States and the life of Stephen Girard. charter was up for renewal it was denied. On the eve of the beginning of the War of 1812 the U.S. Treasury lost a well managed financial institution. Its shares were easily sold off at a profit due to the surplus of its excellent management. In 1812. Girard purchased the bank building and commenc- ed operations under his own name. He retained the officers of the old institution, and continued its successful operation. Girard was the financial benefactor to the United States Govern- ment during this war. He made large advances to the govern- ment. In 1814, when the treasury could only obtain $20,000 out of a proposed loan of $5.000,000, he advanced the sum promptly. When the government did not have the necessary funds to pay the interest on the national debt during the same year. he wrote to the Secretary of the Treasury and offered to wait for his money, or, to receive it in treasury notes. When the Second Bank of the United States was established in 1816, Girard played an important part in its operation, and served as a commissioner and director. His signature appears on an illustrated subscription book receipt. He was active in banking from the early years of the century. Banking receipts issued to Stephen Girard from the Bank of North America and the Bank of Pennsylvania, as well as the First Bank of the United States, are in the author's collection. Most are for sums in the thousands of dollars. which perhaps would correspond to millions today. 4 0 Stephen Girard was born near Bordeaux in France on the 24th of May 1750. His father was a sea captain, and the son followed in his footsteps. At an early age, with limited educa- tion, young Girard sailed as a cabin boy on a voyage to the West Indies. By the time he was eighteen years old, he was the cap- tain and part owner of the vessel. During the Revolutionary War, he discontinued his life at sea and became a merchant in Philadelphia. He opened a cider bottling establishment, which sold liquor to the soldiers of the Continental Army, and started a grocery business. However, by 1780, at the age of thirty, he had returned to the sea. It was fate that during one of the slave revolts he had two of his vessels in port. Several of the wealthy French plantation owners gave him their treasures for safekeeping during the fighting. They and their families were subsequently killed by the slaves, leaving Stephen Girard with a huge fortune. Girard invested heavily in shares of the Bank of the United States. This first bank had been a profitable one. It was author- ized to make loans, hold deposits and issue notes. It served as the depository for the funds of the United States. However, many important people still opposed the bank, and when its The character of Girard is totally different from his role as a banker. Due to a childhood accident at sea, his face was badly disfigured and he had lost an eye. This seems to have soured his disposition and throughout his life most people considered him unapproachable. He was a miser, ready to take advantage of any legal technicality to avoid paying a bill. He demanded the most from his employees and gave in return only their basic wages. He personified the Scrooge character of Charles Dickens perfectly. He was inhospitable, and his appearance was forbid- ding. By 1812 he had become partially deaf, and in 1830, a year before he died, he lost the sight of his remaining eye. He was a disbeliever in Christianity, and had named his ships after noted French free-thinkers. At his death in 1831, his estate amounted to more than $9,000,000, the bulk of which he bequeathed for charitable purposes. The City of Philadelphia was given thousands of dollars for public improvement. His will contained nine pages for the disposal of his estate: to the Pennsylvania Hospital, $30,000; to the Pennsylvania Institution for the Deaf and Dumb, $20,000: to the Orphan Asylum of Philadelphia, $10,000 and a like amount to the Philadelphia public schools. in coin, and the sum of Subscription Book, No. Philadelphia, July /6 15I6:" Week ed -frpm le sum of 47/L. )t...-C61,--C- 04, 49(-4"44-"e-f— ..-.f 4,-4.- y -/-,z-c," in funded debt, being the amoniVof the.fil;it instalment on .-C••""7, --(.— i shares Subscribed to the Capital of the Bank of the United States; t4 be disposed of as the law provides._ Commissioners. -;)--1 I -- Paper Money Whole No. 115 Page 25 A Bank of the United States subscription receipt signed by Stephen Girard. A check drawn on the Girard Bank in Philadelphia. He contributed $10,000 to the City of Philadelphia for the distribution of fuel to the poor every winter and the same amount to the Society for the Relief of distressed masters of ships. Five hundred thousand dollars was given to the City of Philadelphia for street and building improvements, and $300,000 for improvements in canal navigation in Penn- sylvania. Girard's principal bequest was $2,000,000 for the erection of a building, which he had designed down to the most minute details, as part of the will, to be used as a college for orphans. By a provision of the will, no missionary or minister of any sect whatever is to hold any position in the college, nor to be admit- ted to the premises even as a visitor. The object in Girards words was "'to keep the tender minds of the orphans who are to derive advantages from this bequest free from the excitement which clashing doctrines and sectarian controversy are so apt to pro- duce' leaving them free to choose on their entrance into active life 'such religious tenets as their mature reason may enable them to prefer."' Girard Avenue, a major thoroughfare in Philadelphia, bears his name as does Girard College. There have been several banks with the Girard name. The illustrated 1868 check has been pen altered from the Girard Bank to the Girard National Bank. A broken bank note for $1, printed by the American Banknote Company, is from the same era. Girard, Pa. is a city that also bears his name. Presently the Girard Bank and Trust Company, a major bank in Philadelphia, is carrying the banking name into the present. One must wonder about the fate of this man, as well as the United States, if he had not had his vessels anchored in Hispan- iola at a most propitious time. ■ The material for this article is taken from the Appletons Cyclopedia of American Biography published in 1896. The line drawing of Stephen Girard along with the facsimile of his signature is from the same book. Page 26 Paper Money Whole No. 115 DISCOUNT COUPONS PASSED AS CASH by FORREST W. DANIEL The notorious Chicago Store "counterfeit" bill. (This is a follow-up to, "Two Discount Coupons From Dakota Territory." See Paper Money No. 103. p. 12.) HEN Peter E. Sandager and Jacob P. Birder, young merchants doing business as The Chicago Store, ordered a printing of discount coupons from Krebs Lithographing Company in Cincinnati, they little knew what mischief they would cause a decade later. The coupons al- lowed a $1.00 discount on purchases of at least $10.00 when they were distributed from the Chicago Store in Grafton, Dakota Territory, in 1884, and it is assumed the coupons serv- ed their immediate purpose. In 1893 the coupons began to ap- pear in trade, passed as bank notes, in towns some distance from Grafton—and caused one notorious case in Grafton. The instability caused in August and September by the Panic of 1893 may have contributed to the acceptance of the "funny" money. At least that was the suggestion of the Mayville Farmer newspaper after three had been passed as $10.00 bills by a hobo in Hillsboro. Certified checks, warehouse storage tickets, scrip and clearing house certificates were being used in place of United States currency, so there is some understanding that a bill resembling, even in a faint way, a bank note would be ac- cepted at first glance. But most people eventually took a closer look at the bills —often too late—and realized they were worth- less. On October 24 John Larson of Fisher, Minn., used one of the Chicago Store discount coupons to pay a bill of $6.00 at Grater & Sundet's saloon in Crookston. Back on the street he told how he had paid the bill and received change for a $10.00 bill that cost him nothing. He was, however, arrested by Chief of Police Louis Gonyea and taken before Judge Gossman. Lar- son explained it was only a joke, but the judge did not see any humor in it and made him redeem the bill and pay court costs. Larson was then released. Isolated cases of passing the bills got little publicity : the store owner absorbed his loss or the culprit was forced to make resti- tution. Another bill was passed in Crookston about two weeks later and from then on publicity about the swindle exposed at least some of its extent. P.J. McCrystal and Peter Wallace, laborers on a ditching project at Beltrami, Minn., bought fifty-five cents worth of drinks at the California Wine House and received $9.45 in change. The bartender upon looking closely at the bill saw it was no good and called Chief Gonyea to arrest the men. When they were searched only $4.45 was found: but Gonyea was not satisfied and another search was made. That time a $5.00 bill was found, and, because it was wet, appeared to have been in the mouth of one of the men during the first search. The men were held for the arrival of United States Attorney Hay. Counterfeit Money At a hearing before Justice Louis E. Gossman's court a few days later both men were discharged on a charge of petit larceny. It is not mentioned but possible they made restitution to the California Wine House. Immediately upon their dis- charge by Justice Gossman, both were arrested by Deputy U.S. Marshal Goodner and taken before U.S. Circuit Court Com- missioner C.O. Christianson where they were charged with counterfeiting. Both pleaded not guilty and were held in $300 bail for examination the following Saturday. U.S. District Attorney Hay questioned several witnesses. Knute Nuland, the bartender, stated the men bought fifty-five cents worth of drinks and offered the ten-dollar store bill in payment remarking that it was Canadian currency. While somewhat suspicious he gave them change. Chief Gonyea tes- tified he found $9.45 on the accused. J. C. Anderson said Paper Money Whole No. 115 Page 27 McCrystal and Wallace asked him earlier to change the bill and he told them it was no good. J.W. Lawrence. Minneapolis, special agent of the treasury department, stated the bill would be called a counterfeit inasmuch as it was made to represent a treasury bill. McCrystal said he was a cook for the ditching crew and that he had never seen the bill before. He said the bill he spent at the California Wine House was good United States money. Wallace testified he never had the bill in his possession and the only time he saw it was when it was used to pay for the drinks. Attorney Hay asked Commissioner Christianson to hold the men for the grand jury to be held in Minneapolis. Bond was set at $500 each and the men were escorted to Minneapolis by Deputy Marshal Goodner. After the hearing a reporter for the Crookston Times asked Agent Lawrence about passing bills of the Chicago Store type and what penalty was attached to such an act. Lawrence said the penalty for passage and issuance of counterfeit money was imprisonment for from one to fifteen years. In the case of the Chicago Store bills, he said he believed the owners of the store could not be prosecuted since the bills were put into circulation a number of years earlier —"before there was any law against us- ing a fac-simile of a treasury note as an advertising scheme." He said he had been in correspondence with the store in regard to the bills, and they said none had been distributed for some time. Lawrence set out to investigate the extent of the swindle and to try to find the source of the "counterfeit" bills. He again ar- rested John Larson, the prosperous farmer from Fisher : this time on a charge of counterfeiting. Larson was taken before Commissioner Christianson and pleaded not guilty: he said he was not ready for examination and his case was postponed until November 29. Larson was known as a man of integrity and an excellent citizen, according to acquaintances. At the arraign- ment a week later, Larson was accused of passing counterfeit money. He was represented by counsel who fought the case on grounds that the bill was not a counterfeit bill but an advertising scheme by the Grafton store. Larson was held to the grand jury in St. Paul in $200 bond, which he furnished. Agent Lawrence traveled to Grafton, N. Dak., in an attempt to locate the source of the bills, two or three of which had been passed as far away as St. Paul and Minneapolis, he said. The Chicago Store. which issued the bills, was out of busi- ness, and the successor merchant, W.W. Reyleck, said that about 5,000 of the bills, which were actually discount coupons, had been printed about nine years earlier. They were mailed out with advertising circulars. * a common promotional method of the time. It was said there was hardly a house in the area that did not have at least two or three of the bills. People around Grafton knew what the bills were. Jacob Birder, a partner in the store that issued the bills, was a banker in nearby Park River and he, too, may have received a visit from Agent Lawrence. The Grafton Case Earlier cases were recalled when publicity about passing the Grafton "bills" in Crookston appeared in many newspapers. Agent Lawrence's investigation in Grafton was not without local publicity, and a resident informed him about a case in July and insisted upon having the passer arrested. As in many cases the recipient of the bill accepted the loss, although not without ran- cor, until it became known that a victim did have some recourse in law. John Harrington was a well-known personality around the blind pigs of Grafton. On July 7. 1893, he passed a very dirty. almost illegible bill to Louise Burton for valuable consideration. Miss Burton, an inmate of a local house of ill repute, gave Harr- ington $6.00 in change before she noticed the nature of the bill. She demanded her money back but Harrington refused to pay it over Not only did he refuse to repay the cash, he insisted on "joshing" her about it. By December she'd had enough. Harrington was arrested by U.S. Marshal Albert F. Price and brought before U.S. Commissioner Robert M. Carothers. He denied passing bad money, but Carothers held him under $500 bond to the next grand jury. In lieu of bond Harrington was placed in the care of Sheriff John O. Fadden. It was reported "the bill is a deceptive looking piece of paper, and might readily be mistaken for money by lamp light." That statement may be a comment upon the condition of paper money in general since the bill itself is almost impossible to read in daylight. While Harrington was in jail in Grand Forks, the case of Pat McCrystat was brought before a grand jury in St. Paul. On January 11 he was indicted for counterfeiting. Judge A.D. Thomas was sitting in St. Paul and may have heard the case. The court found the bill was not a counterfeit of government. or. bank notes, and consequently they could not convict McCrystal on that charge. The Crookston Times commented that the judgment would probably settle the other cases of similar nature. which had not yet come to trial. The editor mentioned the case in Grand Forks and said it, too, might not come to trial as a result of the case in Minnesota. On March 3, 1894, Chief Louis Gonyea of Crookston was in- structed to serve subpoenas upon Misses Lida Mountrail (Moun- treuil) and Louise Burton to appear as witnesses before the United States grand jury in Bismarck, N. Dak., investigating the Grafton note case. It appears Miss Burton had changed loca- tions since December. Newspapers along the route mentioned that marshals escorting witnesses to the grand jury had a number of women in their charge. John Harrington was arraigned on a charge of passing counterfeit money in the form of one of the Grafton Chicago Store coupons and securing change from an innocent person in the transaction. He was also charged with possession of the bill with intention to pass it to an unsuspecting party. He was given twenty-four hours in which to plead. Harrington finally came to trial before Judge Thomas in Bis- marck on March 13, 1894. In his opening statement Defense Attorney S.L. Glaspell charged the indictment was insufficient. He said the bill, which was passed, did not come within the pro- visions of statute, which provided punishment for passage of counterfeit United States obligations and securities. He claimed. in addition, the bill was not in likeness or similitude of any obligation of the United States : that the wording of the bill did not purport to make it an obligation of the United States, and that its being similar in size, shape and color was not sufficient to establish similarity with government currency. Page 28 Paper Money Whole No 115 he was rewarded by tindini.); a five dollar bill. will( h one of the men had held in his mouth during the first eNarnination, as it was all wet. We nve a fac simile of the bill which is just a trifle smaller than a genuine ten dollar note: '• Compliments of tho CH WAG 0 sToRE.-- we %kill allow the bearer ONE 1)01,14AR For coupon when the bearer buys TEN- DOLLARS' Worth of .rootls at our store. : Ten. SAN DAA; Elt K B1R1)EL. *10. ** At the first glance the bill seems to be all riht, and no doubt could . be passed successfully on any person who was not used to handliuz paper money of that denomination. The men will be held until the arrival of Vnited states Attorney flay, who has -)Pen not and will probably arrive Fac-simile of the Chicago Store bill printed by the Crookston Times. ** en : The prosecution argued that it was not necessary for a bill to be worded after the fashion of a treasury note to make it a counterfeit in the meaning of the statute ; that it was enough that its general appearance, size and shape and color deceive the casual and unsuspecting observer. The arguments, citing numerous earlier decisions, occupied the entire morning. Testimony was taken in the afternoon. It was established that Harrington had gone to a house of ill fame, passed the bill upon an inmate of the house and received $6.00 in good money. Testimony was also taken relating to whether or not the bill would be likely to deceive. Arguments lasted until about 3 o'clock, when Judge Thomas charged the jury. Paper Money Whole No. 115 Page 29 The jury was out only "a few moments," and returned a ver- dict of guilty on the second count, that of having the note in his possession and intending to use it. Before sentence was passed the following morning, Defense Attorney Glaspell appeared for John Harrington and moved for an arrest of judgment. He argued the insufficiency of the indict- ment in that it did not allege the defendant had knowledge that the obligation in his possession was a forged obligation. Judge Thomas heard the argument and suspended sentencing the ac- cused until the next term of United States Court at Fargo. At- torneys were told to present briefs of the law on the subject and final arguments and the case would be decided then. Glaspell had bought his client another ten weeks in jail. On June 1, John Harrington, "the Grafton dealer in counterfeit money" was fined $250.00. He had been in jail since December. Coda Two boys, aged fourteen and seventeen years, purchased an accordian in Grand Forks on October 17; they paid for the in- strument with a $10 bill, which turned out to be one of the Graf- ton coupons. They received $5 in change and disappeared. Grand Forks police searched all day and were unable to find the "youthful financiers." Police finally did geta lead that the boys were from Fisher, Minn., and Officer Hans Ellingson was sent over to bring them back for trial. The boys were located in Fisher, but upon advice of the local marshal they refused to return to Grand Forks. The boys did return the money they received in change and, although it was not reported in the newspaper it is supposed. the accordian. The boys said they got the bill from a Grafton blind pig operator. ■ NOTE: A detail not known when "Two Discount Coupons From Dakota Territory" was published : Paper Money, Vol. 22, No. 1. Jan./Feb., 1983. ACKNOWLEDGEMENTS : The following agencies supplied source material that made this article possible : State Historical Society of North Dakota : North Dakota State Library Commission ; Minnesota Historical Society ; Federal Archives and Records Center, Kansas City, MO. ; the office of the Clerk of the U.S. District Court, Bismarck, North Dakota. NEWSPAPER SOURCES: Minnesota : Crookston Times, St. Paul Pioneer Press. North Dakota : Bismarck : Daily Tribune, Paladium, Fargo Forum : Grand Forks : Daily Herald, North west News, Pla in deale r Grafton : Weekly News and Times, Jamestown Weekly Alert, Mayville Farmer. Series 1923 One Dollar Silver Certificate Changeovers F237/238, H59/60 by Robert M. Lane ECENTLY I acquir !d the F237/238, H59/60 changeover pair of the 1923 $1 silver certificates. Curiosity compelled me to look for the earliest possible pair of changeovers in this series, and I was determined, if possi- ble, to find the lowest serial number block. When I first pur- chased this block from Graeme Ton, Jr., he mentioned that he thought it was a very early changeover. Chuck O'Donnell called Nancy Green, librarian of the American Numismatic Association and she immediately sent over two articles from The Numismatist of 1928. In the November issue of that year the following observation was printed: Farran Zerbe reports that a novelty for collectors has been discovered on the notes introducing Woods' name; in that pane, sets of four notes bear numbers between panes of notes with Speelman's name. An illustrative set is at hand, says Mr. Zerbe. Three panes of four notes each, are numbered X53742489D, —90, 91 and 92, Speelman: 93, 94, 95 and 96, Woods, and 97, 98. 99 and 00, Speelman. All of these are the left-hand pane with location letters A, B, C, D. The same novelty appears on right-hand panes with location letters E, F, G, H. Credit is due an alert numismatic eye for the discovery. The various notes with Speelman's name numbered relating to, but higher than, notes with Woods' name that have been seen show that a good quantity of the novelty was issued. In the December issue of The Numismatist of 1928, William A. Philpott. Jr. states that his Dallas Club had discovered the Y-D blocks, and they were the left hand panes with the location letters of A, B, C and D. The last two figures were identical with those cited by Mr. Zerbe in New York. The numbers were: Y70252889D. 90, 91 and 92 with Speelman signatures: Page 30 Y70258893, 94 and 95 with Woods signatures; and Y70258897, 98, 99 and [9100 with Speelman signatures. Once again I wrote to the ANA, this time Tom Acker came up with an article from Paper Money, Vol. 10, 1971. This article was written and documented by the well known writer and re- spected dealer Frank Nowak. The article is entitled, "Series of 1923 One Dollar Bills." Mr. Nowak lists all observed block letter combinations. In Table II the observed block letter combinations were: AB, DB, EB, HB, KB, MB, NB, RB, TB, VB, XB, YB, ZS, AD. BD. ED, HD, KD, MD. ND, RD, TD, VD, XD, YD, ZD. AE, BE and *D. Signatures on these notes are Harley V. Speelman, Register of the U.S. Treasury and Frank White, Treasurer of the United States. In Table III of Mr. Nowak's article the observed block letter combinations are: VD, XD, ZD, AE, BE, and *D. Signatures on these notes are Walter 0. Woods and Frank White. I do not know why the BB block was not used. However, I believe that Mr. Nowak's reasoning on double alphabetic blocks does make sense. I personally believe, along with Graeme Ton, that the WD block was not used as that was the split when the Bureau of Engraving and Printing changed the signatures from the F237, H59 to F238, F160. To highlight this change of signatures, they intended on starting with block XD on the F238, H60, skipping from block VD to XD. Somehow, and probably because the BEP might have had some "holdover" plates from the F237, H59, some VD blocks were issued with the Woods-White signa- tures. Mr. Nowak lists in Table III the observed low serial number V78216282D with the signatures of Woods—White on F238, H60. My changeover pair has the serial number V78018892D for the F238, H60; this is 197,390 lower than the figure cited by Mr. Nowak. Location letters of A, B, C and D were listed by Mr. Philpott and those of A, B, C and D, as well as E, F, G and H by Mr. Zerbe. Signatures were not mixed on a sheet. For instance the sheet that would be F237, H59 would all have Speelman- White signatures, and a sheet of F238, H60 would have Woods-White signatures. The notes would receive the signa- tures on the second printing. Then the sheet of notes was in- serted for a third printing of serial numbers, seals, and for these large size notes. the series. The serial numbers would be con- secutive, but the sheets were prepared as all F237, H59, or, all F238, H60. Therefore, some of the consecutive numbered notes would have different signatures. The end result would be that any changeovers would be the first or last note combined with the first or the last note of the following sheet. Accordingly, all changeovers would have position codes AD, DA, EH or HE; my pair has position code AD. Further, in Table II of his article Mr. Nowak lists the highest face plate number as 8303; my pair has face plate numbers A7803 on serial number V78018893D and D62 on serial num- ber V78018892D. The highest plate number in this case may or may not make a difference. The fact that my changeover of F238, H60 with serial number V78018892 is 197,390 lower than the serial number listed as low in the Nowak article. Paper Money Whole No. 115 Mr. Zerbe and Mr. Philpott both noticed their changeovers five years after the series was issued. It becomes obvious that my VD block precedes both of these blocks and the serial number of my notes are the lowest serial numbers of all the blocks mentioned. Finally, I think that I have produced some very conclusive evidence that I not only have the earliest known F237/238, 1-159/60 changeovers, but very possibly have the ORIGINAL changeovers. I will continue to feel this way until proof to the contrary is presented by person or museum. I have had great fun compiling this information with the help of others, and feel more than ever that in doing such research the value of my $1 silver certificate 1923 VD block of the F237/238, H59/60 changeovers will certainly be enhanced. not so much monetarily, but as a unique collectible. ■ References Frank Nowak, "Series 1923 One Dollar Bills." Paper Money. Vol. 10. No 1. 1971. p. 3 William A. Philpott, Jr., The Numismatist, December, 1928. p. 727. Farran Zerbe, The Numismatist, November 1928, P. 672. Nancy Green. Tom Acker. Chuck O'Donnell and Graeme Ton. Jr., all contributed: for their assistance I am grateful. WANTED! Black & White Pictures of National Bank Notes for Inclusion in the S.P.M.C. Paper Money Library of National Bank Notes Joe Kinney Curator 1133 Lilliam Way, Los Angeles, CA 90038 (213) 465-7056 SOO M . of PA PER SIONEY COLLECTORS THE END 1935 Mar. 11. The printing of National Bank Currency Ser. 1929 was suddenly stopped, about 11 A.M. Orders on presses were not finished. Orders for Bot. Dis. Spirits and Revenue were immediately put on presses. (entry in a Bureau of Engraving and Printing diary found by Peter Huntoon) 111G111.WIMMIGIUG F r-7' -7.11 /111111111.- Oft THE FIRST —"11 3000024A 1 NATIONAL RANI Of OD SI1ELBY VILLE CV ILLINOIS Wr1.1 PAY TO SEAS307 ON OEN 010 (INE111'NIIREDDOLLARt.' ' THE FIRST F000552R NATIONAL BANK OF PENNSYLVANIA P., TO A.HtP TEN itotiroats F0005521A a 4 , , THE FIRST NATIONAL BANK OF OREGON WISCONSIN 1 %JCS E000214A Paper Money Whole No. 115 Page 31 BIB 110TE VIIIIIETIES BY.. M . OWEN W ARNS NLG SUPPLEMENT XIV Additions to the 1929-1935 National Bank issues previously reported RECENTLY SURFACED NOTES AND CHARTERS C ONTINUING with our on-going endeavours to seek out the remaining unreported notes andcharters of the 1929-1935 National Bank Note Services we are pleased to add those that havesurfaced since the last update that appeared in Supplement XIII of Paper Money #110, the amounts are: surfaced notes reported and recorded 238 surfaced charters reported for first time 53 (asterisk to the left of charter) $100. NOTE SURFACES FROM A BANK ESTABLISHED 114 YEARS AGO The First National Bank of Shelbyville, Illinois was granted charter No. 2128 in October of 1971 when it was capitalized at $100,000. The initial bank officers were William Middlesworth the president with J.W. Powers the cashier. The bank issued notes during the three primary periods, the First, Second and Third Charter series of notes issues. The note shown above surfaced fifty four years after it was issued in 1931 and was the 145th note of the 216 Ty-I $100 notes issued. (Illustration courtesy of C.E. Hillard) The First National Bank of Springville. Penn- sylvania was granted Charter 11393 in July of 1919. This bank liquidated on September 14. 1933 and was absorbed on that date by The First And Farmers Na- tional Bank of Montrose, Charter 2223, situated in a remote area some ten miles to the northeast. Spring- ville's population hovered around the 500 mark over the years. Charter 11393 issued 4170 Ty-I SIN. (Illustration courtesy, Eric Vicker) TWO STATE NATIONAL BANK TITLE The First National Bank of Oregon, Wisconsin was granted charter 10620 on May 25, 1914 with a capital of $25,000. The bank was placed into conser- vatorship in April of 1933. with receivership finally occurring six months later. Notes issued: 1536 $10s. 372 $20s. (Illustration courtesy Thomas R. Snyder) r r77611-#FIFOW*5 t. IIIR ■ NTOI,9111.-j-'L'“"f42.1F1111* e thILAN MION61: SAMX CI !IL TON wmm.m n 11011.11.AUS FC01 1 3CA E001330A 5 1111 MEE Wink WO OF CHINOOK C000036A 80000368 Page 32 Paper Money Whole No. 115 SITUATED SOME 20 MILES SOUTH OF THE CANADIAN BORDER, POPULATION-1813 The Farmers National Bank of Chinook, Montana was established on June 3. 1911 when granted Charter 10053. The bank was capitalized at $25,000. This bank took over the assets and assumed the circulation of the First National Bank of Chinook. Charter 6097 that had been es- tablished in 1902 and went into voluntary liquidation on April 30, 1930. Charter 10053 issued 828 Ty-I $20s. (Reported by Del Bertschy, illustration by Tom Snyder) The First National Bank of Chilton, Wisconsin was established on July 31, 1901 when it was granted Charter 5933. It was capitalized at $50,000. The bank was placed in conservatorship in June of 1933, followed by receivership on December 7 of the same year. The bank issued $5s, $10s and $20s. Type-I notes. Charter 5933 issued 9714 $5 notes. (Illustration courtesy of Thomas R. Snyder) RECENTLY SURFACED NOTES REPORTED AND RECORDED ARKANSAS 10087 Arkadelphia ... $20. • (an asterisk (*) indicates the first note known from the charter) 5086 Mendota 5. 11775 Clyde 6219 Saint Charles . 20. 12694 Hosington • 8374 Sidell 10. CALIFORNIA • 9435 Shawneetown . . 10. KENTUCKY * 10397 Brownstown 5. 1599 Paducah 9546 Cochran 10. • 11934 Palatine 5. 1720 Lexington 12787 Santa Monica . 10. 12873 Chicago 5. 7605 Manchester CONNECTICUT * 13605 Robinson 13666 Stockton 100. 5. 12243 Harlan 709 Litchfield 20. MAINE 1202 New Haven 20. INDIANA 4188 Pittsfield 1360 Danielson 12846 New Britain 5. 20. 111 Madison 5. 13750 Norway 4678 North Vernon ... 50. DELAWARE 5278 Montpelier 6699 New Harmony 5. 20. MARYLAND 3585 Elicott City 1420 Wilmington 5. 8956 Tennyson 10. FLORIDA 9540 Clay City 9562 Oakland City 20. 5. MASSACHUSETTS 708 Athol 9926 Ocala 5. 895 Conway . 10, 12546 Daytona Beach 20. IOWA 996 Plymouth 12905 Clearwater 13300 West Palm Beach 5. 20. 15 Davenport 1726 Ottumwa 100. 50. * 1260 Pittsfield 3073 Ayer GEORGIA 1815 Elkater 3055 Red Oak 10 . 20. 4013 Lenox 5, 7452 Danvers 4963 Waycross 20. 5412 Chelsea 10. • 11868 Arlington • 5264 Carrollton 20. 5738 Essex 10. 11733 Athol • 6002 Fort Gaines 20. 6737 Churdan 10. • 6082 Fitzgerald 10. 6975 Remsen 5. MICHIGAN • 8848 Washington . . . 10. 8603 Alb ia 20. 3211 Kalamazoo 13766 Humbolt 10. 4413 Reed City IDAHO 14041 Villisca 5, 10. 6727 Hart 2972 Lewiston 5. 7676 Houghton KANSAS 9874 Birmingham ILLINOIS 3463 Pittsburgh 20. 1723 Tuscola 100. 4284 Junction City . 100. MINNESOTA 2128 Shelbyville 100. 7226 LeHarpe 5. 6321 Dawson 2287 Pekin 5. 8307 Harper 20. 11627 Ivanhoe 5. 11861 Minneapolis ... 10. 20. 12941 Mahnomen 10. MISSOURI 10. 1809 Jefferson City 20. 5. 3268 Maryville 5. 20. * 10367 North Kansas City 10. 10. 12506 Saint Louis 5. MONTANA 20. 10053 Chinook 20. 20. NEBRASKA 2807 Columbus 20. 20. 3960 Albion 5. 4791 Pender 100 . 20. NEW HAMPSHIRE 20. 5317 Groveton 10. 5. 10. NEW JERSEY 20. 10. 1222 Burlington 5. 10. 1452 Newark 10. 5. 4942 Somerville 5. 20. 7265 Williamstown . 20. 7945 Cape May Court House 20 8007 Pedricktown . 20. 5. 8582 Mays Landing 10. 20. 8777 Westwood 20. 5. 9268 Bordentown 20. 50. 9612 Caldwell 20. 20. 11658 Beach Haven . 5, 12022 Laurel Spgs . 20. 12279 Sea Island City 5. 5. 12606 Yardville 5. 20. 12949 Trenton 5. Paper Money Whole No. 115 NEW YORK 292 Baldwinsville 10. 963 Troy 20. 981 Pine Plains . 10. 1106 Newburgh 5. 1265 Watervliet 20. 1347 Cohoes 20. 1655 Newport 10. 2657 Watertown . 10. 3232 Greenport 20. 3245 Salem 10. 4482 Dansville 20. 4711 Schenectady 20. 4914 Beacon 5. 4985 Granville 10. 5037 Mechanicville . 10. 5336 Highland 10. 5851 South Glen Falls 10, 20. 5867 Gainesville 5. 6386 Ripley 20. 7588 Salem 20. 8398 Peekskill 20. 9399 Nichols 10. 9804 Poland 10. 9427 Callicoon 10. 9644 Belfast 10. • 10016 North Rose . . . 20. • 10109 Central Square 10. • 10216 Hammond 10. • 10623 Gasport 10. 10964 Old Forge 10. 11057 Tannersville 20. • 11953 Roosevelt 5. 13037 Interlaken 20. 13441 Buffalo 5. 14078 Cherry Valley 5. NORTH CAROLINA 6776 Shelby 5. 8844 Graham 10. NORTH DAKOTA 2792 Casselton 10. 8976 Bowman 5 11378 Napoleon 20. OHIO 1447 Cadiz 20. 2449 Hillsboro 20. 2516 Defiance 10. 2577 Mansfield 100. 2705 Georgetown .. 10. 3234 Milford 20. 5218 Napoleon 10. 7649 Logan 20. 9815 Racine 10. 10479 Athens 20. OKLAHOMA • 5347 Stillwater 5. 5731 Wynnewood . . 10. • 5955 Chelsea 20. 8052 Wewoka 10. 12042 Tulsa 10. PENNSYLVANIA 324 Newtown 5. 680 Lebanon 20. 2222 McKeesport . 100. 2226 Warren 20. * 3498 Philadelphia . . 20. 4098 Scottsdale 10. 4481 Connellsville . . 10. 4505 Dushore 5. * 4818 Ellwood City . 5. 5040 Tionesta 5147 Mifflintown 5429 Messoppen 5848 Pitcairn 5855 Carrolltown 5878 Monaca 6442 Gallitzin 6445 Hawley 6799 Shingle House 6944 Burggetstown 6962 Tafford City .. 7349 New Cumberland ' 7367 Portage * 7405 Hickory 7488 Sykesville 7856 York Springs . . 8080 McConnellsburg 8190 Vanderbilt 8238 Juniata 8517 Wyoming 8619 McAdoo 9430 Cambridge Sprs 9503 Point Marion . . 9507 Seven Valleys .. 9638 Hopewell 9863 Punxsutawney 11015 New Hope 11115 Ivorna 11370 Jefferson 11393 Springville 11413 Hooversville . 11512 Dauphin 12414 Pittsburgh 12530 Jenkintown 13251 Souderton 13940 Tarentum 13947 Scranton RHODE ISLAND 1492 Newport 100. 13901 Providence 50. SOUTH CAROLINA 1448 Spartanburg 5. • 3809 Sumter 5. 9941 Fort Mill 10 SOUTH DAKOTA 6792 Tyndall 20. TEXAS • 2867 Honey Grove 20. 4982 Clarksville 5. 6150 Gatesville 20. * 7140 Garland .. . . 10, 20. 8581 Greenville 5. 20. 20 . 20 10. 10 . 20 . 10. 20 . 10. 10. 10 . 20 20. 20. 20 . 20 . 20 . 10. 5 . 5 . 10. 20. 20. 20. 10. 20 . 20. 10. 10. 10. 5. 20. 20. 10. 20. 10. 10. ._.==ZrZr:Zr737:rE.._t B000C)28k MERCHANTS HATICSAL RANI or IVANHOE MINNESTA , B000028A C000028A wilwirmimslEsimpaRNA TYE SHIM 11AMOtt. BANK OF tf3 ROi3INSON 111,1075 ev - C000028A VERMONT Page 33 13439 East Stanwood ... 5. 748 Montpelier 1133 Woodstock 5. 5. WEST VIRGINIA 1368 Derby Line 5. 4811 Martinsburg 20. 6252 Bristol 10. 6377 Phillippi 20. 8751 Gormania 5. VIRGINIA 10219 Fairview 10. 6839 Marion 20. 13231 Point Pleasant ... 20. 12240 Emporia 5. WISCONSIN WASHINGTON 4312 Rhinelander .... 20. 5751 Ritzville 5. 5933 Chilton 20. 9030 Medical Lake .. 20. 10330 Wisconsin Rapids 20. 11572 Raymond 20. 10620 Oregon 10. The Farmers and Merchants National Bank of Ivanhoe Minnesota #11627 was established in March, 1920 and voluntarily liquidated 10 years and 4 months later in the mid-1930s. Type-I notes issued 1410 $10s and 306 $20s. (Illustration courtesy-Thomas M. Denly) IVANHOE The legend of Ivanhoe dates back to the 11th. century when chivalry flourished and knighthood was in flower. It was not until 1819 that Sir Walter Scott authored and published his novel Knight Ivanhoe and his beloved Rowena The Second National Bank of Robinson, Illinois was granted charter 13605 in March of 1932 during the great depression. The bank issued both Type-I and Type-II notes, however, the $100 denomination was issued only in the Type-I plate layout. The above note is the 28th of the 240 issued $100 notes. (Illustration courtesy Richard Montford) Frank Bennett Del Bertschy Frank E. Clark Robert Cochran Charles A. Dean Martin Delgar Thomas M. Denly Richard Doloff David Dorfman Fern Dorfman Dennis Forgue Alan Goldstein John T. Hickman C.E. Hillard Alan R. Hoffman Al Hurry Curtis Iversen Arthur Kagin C.A. Kane Allan Karns Jules J. Karp Don C. Kelly Wm. Kleinschmidt Lyn Knight Tim Kyzivat Arthur Leister Marvin Levine Donald Lynch C. Dale Lyon Shayne MacMahon Ken McDannell Donald Mark M.M. Melamed Allen & Penny Mincho David W. Moore John J. Nichols Frank A. Nowak Dean Oakes John Palm Alex Perakis Gary W. Potter Edward Reicht Wm. R. Rhoning Michael Robelin Robert Rozycki Joseph Sande Gerald C. Schwartz Thomas Snyder James A. Sparks Roy C. Sparks Jr. Leon Thornton Frank Trask Fred Verzelles Eric Vicker W.J. Waken Steven K. Wakefield Lowell Yoder Page 34 Paper Money Whole No. 115 "14000 CHARTER NOTE ADDITIONS... Members interested in keeping up with the analysis of the 14000 charter series can update their records by adding the following notes: 14041 Villisca, Iowa 14078 Cherry Valley, NY 14079 Olyphant, Pa. 14164 Cureo, Texas 14297 Lanark, Illinois Correction . . . Charter-14205 should be Pa. (Paper Money #111, page 119) SOCIETY MEMBERS COLLABORATING IN THE PREPARATION OF SUPPLEMENT XIV Trial Listing (continued from p. 14) (This is the second issue $10.00. $40,000 worth of $10 notes was issued through February 1861; all of this, however, was issued by August 1858. This second type $10 was first issued 1861 or 1862.) L. Male portrait with XX above. IMPRINT: ? Probably TC & Co. (This was the first type $20 issued. $80,000 worth of $20s were issued through February 1861, but all of this had been issued by August 1858. This note should be countersigned by the Bank Commissioner.) $20.00 C. Man plowing with two horses; boy leading them. "20" to either side. R. Oval portrait of a girl; "20" above. L. Oval half-length figures of two children with grapes (Hodges says butterfly). IMPRINT: ? Probably ABNC (This second type $20 was first issued in 1861 or 1862 and is probably not signed by the Bank Commissioner.) $5, 10. $20.00 C. Oval portrait of Washington, with seated — 10. woman, scythe, sheaf, etc. to right and seated — 10. woman, men, boxes, barrels and steamer on — 10. left. "20" below. — 10. R. Oval portrait of a girl; "20" above. $50.00 C. Female portrait between two cherubs; "50" to either side. R. White FIFTY. L. Red FIFTY. IMPRINT: ? Probably TC & Co. ($90,000 worth of $50s was issued through February, 1861, but all of them were issued by August 1858. This note should be counter- signed by the Bank Commissioner. Hodges says there is a woman with an anchor in lower right corner and woman with battle ax and shield in left end.) $100.00 C. Woman's portrait. R. Cherub upper corner; "100" lower corner. L. Wharf scene, steamboats and merchandise; "100" above. IMPRINT: ? Probably TC & Co. (Should be countersigned by Bank Commis- sioner. $80,000 worth of $100s was issued through February 1861, but all of this had been issued by August 1858.) $500.00 C. Woman's portrait. L. "500" in upper and lower corners. R. "500" in upper and lower corners. IMPRINT: ? Probably TC & Co. (Should be countersigned by Bank Commis- sioner. $38,000 worth of $500s was issued through February 1861, but all of it had been issued by August 1858.) ■ Publications Consulted Standard Catalog of National Bank Notes, by John T. Hickman and Dean Oakes. National Banks of The Note Issuing Period, 1863-1935, by Louis Belkum. National Bank Note Issues of 1929-1935, Society of Paper Money Collectors, by M. Owen Warns, Peter W. Huntoon and Louis Van Belkum. CORRECTION The photograph on p. 236 of Paper Money No. 113 is Mar- cus W. Baldwin, not Walter Shirlaw. This misattribution was observed by Dr. Glenn E. Jackson. A self-portrait of Walter Shirlaw can be seen in the Chicago Art Institute. ..eigtAitel‘ffita0110160,~1.t)rz,-.'-' (' Einri 1 ,1 ts El l, 7 ILVVV. 111•:1 1,N liKVOSITKI) IN THE r t '4f* 1 ! E 0 itivir..11ClEfOILLIWEil VIP-dite tb-'se i)actz;;...i (irtakk":9)-X,It. Anyittilligketteg4t, 7,6 -Emtvg* Paper Money Whole No. 115 Page 35 unco, Bogus and Bank Robbie' A Sorry Record Compiled by BARRY WEXLER, SPMC #5000 A NEW SWINDLE A well dressed individual has been quite successfullyworking a swindling scheme on the conductors of horsecar lines in New York and neighboring cities. The scheme is as follows : Getting on a car he told the conductor that he was sorry, but he hadn't anything smaller than a $2 bill. The conductor offered to change it, and while he was making up the required $1.95 the suave gentleman started and said he believ- ed he did have just a nickel. While he was fumbling in his trousers pocket, the conductor returned the bill nicely folded. But the nickel couldn't be found. and a bill which looked like the $2 was handed back to the conductor. The suave gentleman got the change, and after riding a couple of blocks alighted. He had given the conductor a $1 bill instead of the $2 bill, and he was 95 cents ahead! (Dickerman's, March, 1890) MILES OGLE AND THE $2 COUNTERFEITS I T looks now as if the crime of Miles Ogle, the notorious counterfeiter, has been brought home to him, and the evidence of his guilt so clearly established that he can be kept in prison for the rest of his natural life. Ogle is now under indictment in Cincinnati, and last month he was indicted in Louisville, Ky. He is held for counterfeiting the $2 silver cer- tificate and the $10 New Orleans bank note. His chief confeder- ate. John Schmidt, has made a confession and through him a number of the plates which had been concealed in Madison, Ind., were captured. Schmidt was sent to the Columbus, Ohio prison about a year ago to serve an eight year sentence, having been convicted of passing the counterfeit notes. Detective Bauer of Louisville. Ky. visited Schmidt in prison, and after many ef- forts succeeded in getting him to confess. His story runs as follows : In the month of May, 1889, he and Ogle, after procur- ing the necessary outfit, went to Wheeling, W.Va., and bought a flat boat. Embarking on this they went down the Ohio River. A large quantity of bogus money, chiefly $2 silver certificates, was made on the trip while on the way down, and even when stop- ping at landings. In all $4,000 was manufactured. When this task had been completed, the flat boat was disposed of and in its stead they purchased a skiff. In August. 1889. the two men ar- rived in Louisville, and at once proceeded to make ar- rangements for extensive operations. Rowing over to Towhead Island, one dark and rainy night. a large part of the money was stashed. From there they went over to a large cornfield. on Beargrass Creek, where another lot was hid in a large box, which was placed under the ground. When everything was ready, Schmidt and Ogle provided themselves with $1,800 worth of counterfeit money. Schmidt was to cover Louisville. taking in all the business houses. strangers, etc.. while Ogle was assigned to the more extensive job of working all the larger cities south of the Ohio River. He visited and met with remarkable success in Jackson. Miss., New Orleans, Memphis, Chat- tanooga, and all the other cities of any size in his southern route. Though the country was alive with detectives on the lookout for the daring counterfeiter, he always managed to come out of every town with his pockets full of good money without having aroused suspicion. Schmidt, though working on a smaller scale, had an equally hard task to perform. for he was compelled by their agreement to work Louisville only. placing him where he was more liable to arrest. He made a specialty of merchants on Clay, Market and Preston Streets, and not a day passed but that several mer- chants had been worked for large sums. He had no particular method of operation, but circulated the bogus money in almost every conceivable way. Schmidt was finally captured, and he re- ceived a sentence of eight years in the U.S. prison. The $2 counterfeit by Miles Ogle was based on this design. Page 36 Paper Money Whole No. 115 After securing the confession, Det. Bauer, in order to have the counterfeiter's statements substantiated, armed with a war- rant, took Schmidt out of the penitentiary. With Warden Thompson as guard, they went directly to Madison, Ind., and thence to Carrollton, Ky. Here, most of the certificates had been made, the prisoner said, and it was in order to get such proof that they visited the town. Some of the plates used in stamping the bills were unearthed near the edge of the town, with oil cans and other things necessary in making the money. (Dickerman's, Nov., 1890). SMUGGLED COUNTERFEIT NOTES 0 NE of the most ingenious devices for smuggling wasdetected in Russia not long ago. A great number offalse bills had been put into circulation within the do- minions of the Czar. They could only have been imported, and although the strictest search was made habitually over every vessel entering a Russian port, no trace of the smuggling of false notes was discovered. Accident, however, at last brought the mystery to light. It happened that several cases of lead pencils arrived from England, and while being examined one of them fell from a package, and the Custom-house officer picking it up cut it to a point and used it to sign the order which delivered the pencils to the consignee. He kept the loose pencil for his own use, and a few days afterward, because it needed a new point, he cut it again, and found that there was no more lead. He cut still further, and was surprised to find a thin roll of paper nested in the hollow place where the lead was supposed to be! The paper was one of the counterfeit notes, and in this way they had been smuggled into the country for quite some time. (Dicker- man's, Nov., 1894). A CLEVER BANK SWINDLER A N expert swindler, who gave his name as Horace D. Baker, was arrested in Vineland, N.J. on July 30. and he is credited with having obtained $50,000 or more by his operations. His real name is said to be Robert E. Harvey. He served a term in the California State Prison, and in 1889 was ar- rested in Washington for forging checks and sentenced to the Albany Penitentiary for 3 years. He was released in August, 1892, and in October following he wrote a letter to the Twin Valley Bank of West Alexandria, Ohio, as follows: "Gentlemen : On Sept. 10, while sitting in the Rathburn House, this city, a young man approached me, and after a few minutes conversation, was attracted by my finger ring and wanted to buy it. I consented to sell it for $200. He had only $40 cash, but offered me a $368.21 draft, drawn by your bank on a New York bank. The draft was No. 687, payable to George C. Richards, signed M.M. George, Cashier. I refused the draft until I could telegraph you, as I suspected it was fraudulent. The next day I was taken sick with typhoid fever, and have been in the hospital ever since. "During my illness, I have often thought of the draft, and have considerable curiosity to know if my suspicions were cor- rect. If you will take the trouble to inform me I will be under obligations. I am a California fruit grower, living at San Jose. Hoping that I may have the pleasure of a reply, I am yours, etc. "C.A. & 0. Hospital, Elmira, N.Y." Henry M. Thomas ■ T HE following little tidbits were lifted from Dickerman'sOct.. 1894 edition :1) Burglars entered the State Bank of Randolf, , N.Y., early on Sept. 7, and blew open the vault and safe with dynamite. The safe fell on its face, and the burglars were frightened away without getting anything! 2) Joshua S. Helmer, formerly President of the wrecked Mer- chants' Bank of Lockport, N.Y., convicted in the Supreme Court of deceiving the State Banking Dept., has been sentenced to five years at hard labor at Auburn prison. With good behavior his sentence will be shortened to three years, eight months. 3) The Second Nat'l Bank of Altoona, Pa., which was forced to close its doors on August 9th on account of embezzlement of funds by the absconding cashier, having complied with all the requirements imposed upon it by the Comptroller of the Cur- rency, and its capital stock having been fully restored, has been permitted to resume business. 4) Mr. Daniel Spraker, President of the Mohawk River Nat'l Bank of Fonda, N.Y., is believed to be the oldest bank president in the United States. He celebrated the 96th anniversary of his birth on August 27th. He has been President of the bank since its establishment in 1856 by Spraker Brothers. He still gives his per- sonal attention to the affairs of the bank, which he visits daily. The purpose of this letter was to get the signature of the cashier of the Twin Valley Bank, for soon after receiving an answer from the bank he obtained $121.30 in Elmira on a forged draft, purporting to be issued by the Twin Valley Bank on the National Bank of the Republic of New York City. From Elmira, Harvey went to Cleveland, Ohio where he swindled Wardwell & Co. with a forged draft for $442.20, purporting to be issued by the Merchants' Bank of Binghamton, N.Y., on a New York City bank, He also succeeded in swindling banks at Chicago, on March 21. 1893; at Mount Vernon, N.Y.. on June 27, 1893; at Bel Air, Md., on May 11, 1894; at Worcester, Mass., on June 20, 1894, and many others. Early in June last, Harvey, under the name of Frank Moul- ton, appeared in Worcester, Mass.. called on a Mr. Brewer. a druggist, and claimed to have seen in a Boston paper the ad- vertisement Mr. Brewer had inserted for the sale of his drug store. The result of the interview was that Moulton purchased this drug store, paid $300 on account, made deposits, and drew checks. He deposited at one time a draft for $4,536, purporting to be drawn by the Tama National Bank of Tama, Iowa, on the First Nat'l Bank of Chicago. This draft afterwards proved to be a forgery. On the same day, he went to Providence, R.I., and cashed, at the Manufacturers' Nat'l Bank of Providence, a check for $3,000 on the Quinsigamond Nat'l Bank, payable to Walter B. Snow and signed by Frank Moulton. Harvey usually identified himself with the religious organiza- tions in the places where he perpetrated his swindles. (Dickerman's, Oct., 1894) MI 7tt, aln *I/ a a a,, Ir9IM1 OC` , cltorr, 1-rm171 c c:;cc IdS N,-n^ "^t,11,,,C Ita"1, s it I'M tht. II . Paper Money Whole No. 115 Page 37 R.VON, 01 IS1 L flItt ISRAEL ISSUES FIRST SOUVENIR CARD The Lion of Judah, as seen on a seal found in Meggido in 1904, dominates the back of a 5 pound note (P31). The same lion also appears on the 5 pound coin (right), which was replaced in 1980 by the 1/2 sheqel (left); this coin remains in circulation. Only 15,000 cards were printed for worldwide distribution. They were available at the F.U.N. and Greater Florida International Shows in January. Mail orders at $6 each, postpaid, can be addressed to: AINA, P.O. Box 25790, Tamarac, FL 33320. NEW OFFICERS — RECENT & UPCOMING EVENTS FOR BOND & SHARE SOCIETY The American Branch of the Bond & Share Society elected the following people at the October 16th meeting to serve as of- ficers for the 1984-85 year. President Richard Urmston Vice President Ted Robinson Secretary-Treasurer Diana E. Herzog On November 3rd, the American Branch held a special half- day trading session in New York City, appropriately timed for collectors in town for a major auction of antique stock & bond certificates (R.M. Smythe Auction 12 — 11/2/84). The Bond & Share Society is an international collectors or- ganization devoted to the growing interest in collecting antique stocks and bonds. It was founded in London in 1978 and now has active branches in the United States, Canada, West Ger- many, and Switzerland. For futher information about the Society and the activities of the American Branch please contact: Ms. Diana Herzog c/o Friends of Financial History 24 Broadway, NY 10004 Page 38 Paper Money Whole No. 115 Interest Bearing Notes LAadTr'fis Welcome to 1985! Best wishes for the New Year! Planning is underway for your Society's 1985 activities and programs. The Pennsylvania book will go to the printer shortly; it should be out in 1985. DUES REMINDER This is a gentle reminder that 1985 dues are now payable. Dues are still only $12. Your cooperation in renewing promptly will help to minimize the cost of sending out "second notice" statements. Please note that your dues notice and 1985 membership card were enclosed with the November/December 1984 issue of PAPER MONEY. Please be sure to: Pay your dues promptly. Fill out and keep your 1985 membership card with your name and year 1985. Your membership number appears on your magazine mailing envelope. Check the label on the mailing envelope, and make any necessary corrections. Please print any changes. This is important so that we can keep the mailing list up to date and so you will continue to receive your magazines regularly. SPMC SECRETARY STEPS DOWN We announce, with regret, the resignation of Robert Azpiazu, Jr. from the post of SPMC Secretary. Bob, a hard-working member of our team, asked to step down because of time and business commitments. In the interim, a new Secretary has been appointed, Gary E. Lewis, of N. Ft. Myers, Florida. Gary has been very active in numismatic organizations, and has served as ANA Regional Representative. His experience will add substance to our working team of officers. As of this writing, the records of the secretary should have been transferred. Many thanks, Bob, for your years of service to SPMC. CHERRY HILLS, NEW JERSEY CONVENTION As announced in the last issue of PAPER MONEY, and as you have been reading in the numismatic press, the Interna- tional Paper Money Convention plans are well under way. Monthly news releases are being sent out to the numismatic, press about the event, but we will also keep you informed VIA PAPER MONEY. Plans are progressing nicely for this event, and I am pleased with all the enthusiasm and cooperation. The SPMC Annual Meeting (Board and General Meetings) will be held at this event, with only a regional general meeting to be held at the ANA Convention. We invite your participation. NOMINATING COMMITTEE Each year, five members are elected to three-year terms on the Board of Governors. I have appointed the following nominating committee to develop a slate of candidates for this year's election: — Charles Colver, (Chairman), (611 N. Banna Avenue, Covina, CA 91724) — Peter Huntoon, P.O. Box 381, Laramie, Wyoming 82071 — Bernard Schaaf, M.D., 321 North 22nd Street, Lafayette, Indiana 47904 If you have any ideas regarding potential candidates. anyone on the committee will be pleased to hear from you. In addition, candidates can be put on the ballot if: — a written nominating petition signed by ten members in good standing and — a written acceptance from the nominee are received by Gary E. Lewis, SPMC Secretary, P.O. Box 4751, N. Ft. Myers, Florida 33903, no later than March 1, 1985. Mail ballots will be distributed in the May/June issue of PAPER MONEY. Results of the election will be announced at the General Membership Meeting at the International Paper Money Show in Cherry Hill, New Jersey in Nov. 1985. Those governors whose terms expire this year are Walter Allan, Michael Crabb, Jr., C. John Ferreri, Stephen Taylor, and John Wilson. If you have any questions or suggestions for SPMC, please feel free to write to me at P.O. Box 1, Boone, Iowa 50036. ■ Recruitment Report If the Society of Paper Money Collectors is to remain a leader in the field of syngraphics, a moderate growth rate must be maintained. For the welfare of the society, everyone must get involved in recruitment. If every member recruited just one new member and each new member recruited another new member we probably would have the most influential organi- zation in numismatics. There is no doubt that this pyramid system would enable the society to accomplish all its objec- tives. It is our duty to each other to help maintain our mem- bership. In keeping with this recruiting objective, the top recruiters will be recognized in our bi-monthly magazine. Also, at the Memphis meeting, an award will be presented to the top recruiter of the year. This award will be designated the Vice President's Plaque. The top individual recruiter and the top dealer recruiter will be honored with this award. Total Sept. - Feb. Larry Adams 32 John Wilson 11 Robert Azpiazu 9 James Stone 5 Wendell Wolka 4 Richard Balbaton 10 New brochures containing applications have been printed with space for the sponsor's number as well as his signature to facilitate the assigning of proper credit for sponsoring the new member. A supply of these new brochures can be obtained by contacting your "New Member Recruitment Chairman", Roger H. Durand, P.O. Box 186, Rehoboth, Mass. 02769. Only those who have recruited four or more members are listed. REMEMBER, "RECRUIT NEW MEMBERS". Last 2 month period Larry Adams 19 Collectors John Wilson 4 Ron Horstman 4 Dealers Richard Balbaton 4 OREGON PAPER MONEY EXCHANGE OBSOLETES • U.S. FRACTIONALS STOCK CERTIFICATES & BONDS CONFEDERATES • OLD CHECKS NORTHWEST DEPRESSION SCRIP CURRENT LIST FOR $1.00 - REFUNDABLE - Ask About Our Upgrading Program -- WE BUY, TOO -- OREGON PAPER MONEY EXCHANGE 6802 S.W. 33rd PLACE • PORTLAND OR 97219 (503) 245-3659 (EVES) SUZANNE NAVEN (SPMC, PMCM, CCRT) Paper Money Whole No. 115 Page 39 pstoN AL PA pt Sponsored by The Society of Paper Money 4fr Collectors ""r NOVEMBER 14 - 17, 1985 HYATT - CHERRY HILL, CHERRY HILL, ■te NJ CONVENTION Also serving as Committee Chairmen are James K. Brandt- Security Chairman, and John Wilson-Signs/Cases Chairman. Persons interested in particular aspects of the convention are urged to contact the appropriate Chairman. General informa- tion regarding the International Paper Money Convention. which is being sponsored by the Society of Paper Money Col- lectors, may be obtained by writing to the General Chairman, William Horton, Jr. ■ Preliminary Details Regarding BEP Show Participation Officials of the International Paper Money Convention, which will be held on November 14-17, 1985, at the Hyatt-Cherry Hill complex in Cherry Hill. New Jersey, have released preliminary details concerning the Bureau of Engraving and Printing's planned participation in the event. Under the leadership of Director Robert J. Leuver, the Bureau has stepped up efforts to familiarize both the collecting and general public with the Bureau, its operations, and its products. The BEP's plans for the International Paper Money Convention in Cherry Hill indicate that it has a genuine commitment in this area. The Bureau, as previously reported, will prepare a commem- orative souvenir card for the show. Current plans also include the popular spider press demonstration and an extensive exhibit of various paper money and other government obligations that the Bureau has printed over the years. The spider press exhibit will give convention-goers an opportunity to see first hand this nineteenth century printing press, whose huge spoked hand- wheel gives it its nickname, and a detailed presentation on the printing process. Collectors will have the opportunity to purchase a special "specimen" souvenir like that which will be demonstrated on the spider press. The Bureau of Engraving and Printing shares the convention organizers' desire to expose young people to the history and artistry that are associated with paper money and other related items. As a unique vehicle to satisfy this desire, the Bureau and convention officials are working together to set up visits to the show by local school groups. The Bureau plans to have a work- ing engraver on hand at the convention to serve as the focal point for the educational programs that it will present to these school groups. Committee Chairmen Announced General Chairman: William Horton, Jr P.O. Box 293, Frank- lin, New Jersey 07416 Bourse Chairman: Paul Pfeil, 14 Roosevelt Drive, Ogdensburg. New Jersey 07439 Exhibits Chairman: Doug Moore, 46 Manor Drive, Dover, Dela- ware 19901 Publicity Chairman: Wendell Wolka, P.O. Box 366, Hinsdale. Illinois 60521 Educational Programming Chairman: Nelson P. Aspen, 633 N. Church Street, West Chester. Pennsylvania 19380 Young Numismatist Program Chairman: Larry Gentile, Sr., 542 Webster Avenue, New Rochelle, New York 10801 Special Events Chairman: Steven Taylor, 70 West View Ave- nue, Dover, Delaware 19901 RECRUIT A MEMBER TODAY Page 40 Paper Money Whole No. 115 Editor's Corner 8 O The Paper Pound is Gone, is the Dollar Next? In 1978, after polling collectors for their opinions as to whether the U.S. Treasury should issue a smaller dollar coin— now known as the Susan B. Anthony dollar—the treasury went ahead. even though the consensus was, don't do it! This is com- parable to what a musician I once worked with would, on occa- sion, say to the audience, "We've had a request, but we're going to play anyway." Well, we know what happened. or rather what didn't happen with the Anthony dollar. We all know the savings, in millions of dollars, that would result if the $1 note was discontinued and was replaced by a dollar coin that could circulate for fifty years, perhaps. The British and the Canadian Governments also are aware of enor- mous savings if their smallest denomination bank note were to be eliminated. Both have moved to effect such a savings. The Canadians are experimenting with a smaller dollar coin. The British, however, made the ultimate decision and have discon- tinued the production of the £1 note as of 31 December 1984. A small £1 coin now circulates, and will eventually replace the pound note as those in circulation are retired due to wear. The history of bank notes in Great Britain and Canada parallel the United States, and, there are numerous similarities in these histories, including a plethora of private banks that once operated in each country. The earliest recorded notes issued by the Bank of England bear the date the bank was founded, 1694. The first emergency, playing card money in Canada (New France) was issued in 1685. The notes of Massachusetts Bay Colony were first issued in 1690, four years before the Bank of England was established. As the Bank of England rolled on, provincial and chartered banks in Canada finally became one with the Bank of Canada. Except for a six year interruption, the Bank of the United States issued notes from 1791 to 1837; and treasury notes were issued during and after this period, commencing in 1812. Within a period of a few years, the $1 note has been issued in Canada and the United States for the past century and a quarter. The English £1 note is gone from production; the Canadian dollar seems to be programmed for obscurity, is the American "greenback" next? Even though we have been reassured that the $1 bill will always be with us, I am not that confident. The citizens of more than one country have seen the lowest denomination notes disappear from circulation. In Mexico the 1 peso vanished, followed by the 5, 10 and 20 peso notes. The U.S. $1 note has a face value of less than the British pound and considerably more than the Mexican peso. Never- theless, once the U.S. Treasury Department can justify, by cost saving, a $1 coin to replace the $1 note, coupled with special interest groups who see that it is advantageous to have custom- ers use one or two coins as opposed to four or eight in a ven- ding machine, it's goodbye "greenback." Within the next two or three years, Federal Reserve notes with modified designs will enter circulation; these will circulate side by side with notes already in circulation until the older notes are withdrawn due to wear. It will be interesting to see if a $1 note is included in the new modified designs. If not, as the $1 notes, already in circulation, succumb to the inevitable de- struction that follows the 15 to 18 month life of these notes, the Anthony dollar could reappear. However, the coin will pro- bably have been treated, as former U.S. Mint Engraver Frank Gaspparo has suggested, with a substance that would make it different in color than the similar-size quarter. The next logical step would be to bring out all those 1976, $2 Federal Reserve notes that were rejected by most of the populace. It's unlikely that the $2 bill, like the $1, would be a target for counterfeiters, therefore it could circulate, even though it lacks some of the sophisticated additions that will accompany the new notes. When the $2 note is withdrawn due to wear. it would be replaced with one of modified design to match the other denominations. I don't claim to have a crystal ball, but the foregoing is cer- tainly a possibility. In three or four years we'll review the sub- ject. ■ SECRETARY9S EPORT GARY LEWIS, Secretary P.O. Box 4751 N. Ft. Myers, FL 33903 188 Ronald Murphy, 1013 N. 2nd Street, Springfield, IL 62702; C. 6840 Charles Haworth, 4901 Tower Ct., Tallahassee. FL 32303; C, Obsolete US Currency. 6841 Harry Mitchell, Jr., P.O. Box 55032. Jacksonville, FL 32216: C, US; CSA; Obsolete Bank Notes. 6842 Harrison Yerger, 878 Sumneytown Pike, Lansdale. PA 19446; C. 6843 John Lawler, 17535 Kohlhoss Rd Poolesville, MD 20837; C, Fractional Currency. 6844 Paul Gebhardt, 6 Stoneridge Ct. S.E Concord, NC 28025; C, Current Currencies. 6845 Enrique Lastra, 8341 S.W. 27 Lane, Miami, FL 33155; C, US & Foreign. 6846 David Hanna, 895 Queen St. West, Toronto, Ontario, Canada M6J Ig5; C, Dutch Colonies: New Guinea. Paper Money Whole No. 115 Page 41 6847 Amb. J. Middendorf II, 1453 Kirby Rd., McLean, VA 22101 6848 John Wright, 107 W. Main St., Grass Valley, CA 95945; D. 6849 Robert Hastings, 9234 Prairie, Highland, IN 46322; C. Na- tionals from Maryland's East Shore. Delaware, and NW In- diana. 6850 James Piggott. 29836 12th Ave. SW, Federal Way, WA 98023; C, US Large Size Currency. 6851 Michael Joy, P.O. Box 442, Lincoln, ME 04457; C, Maine Ob- soletes. 6852 Norton Glossman, 2969 Salvio St., Concord, CA 94519; C. US & Foreign. 6853 Harvey Pickar, 24 E. Columbia Ave., Palisades Park, NJ 07650; C&D, Large Size-Frac.-Obsoletes and Colonials. 6854 Victor Norris, P.O. Box 94, Lowell, NC 28098; C, NC Na- tionals & State Issues. 6855 Ralph DeMarco, 66 Valley View Rd.. Yardville, NJ 08620; C, World War II Military Currency. 6856 Bernard Ross, 524 13 St. NE #37, Washington, DC 20002; C. 6857 Brian Gibbons, 280 Sound Beach Ave., Old Greenwich, CT 06870; C. 6858 Jack Storm, P.O. Box 10453, Burbank, CA 91510; C&D. World. 6859 A. Sharghi, 2500 Olivia Ct., Virginia Beach, VA 23454; C, Iran. 6860 Jerry Hook, 1141 SW 31st Ave.. Fort Lauderdale, FL 33312; C. World. 6861 Romy Go, 467 McArthur Highway Baligabo, Angeles City, 2017 Philippines; C. Worldwide (Current & Obsolete). 6862 George Rehfuss, Jr., 510 Fisher Lane, Warminster, PA 18974; C, US Currency. 6863 Walt Harris, 1255 Sterling, Palatine, IL 60067. 6864 Charley Geiger, 14710 Detroit Ave., Lakewood, OH 44107: C, Ohio Brown Seal Nationals. 6865 Mark Blaser, RD #3 Box 94, Center Valley, PA 18034; C. Penn & N.J. (Local Counties). 6866 David Lott, RR 2. Ganges B.C. Canada VOS LEO; C, Africa & Gulf States. 6867 Clifford Rotz. 197 S. Coldbrook Ave., Chambersburg. PA 17201; C, National Currency. 6868 Robert Rinaldo, 71-57 68th Place, Glendale. NY 11385: C Large type notes & all small bills. 6869 Jerome Horne, 345 E. North St., Leland, IL 60531. 6870 Andrew Loulis, P.O. Box 703, South Lake Tahoe, CA 95705. 6871 Carol Nowak, 14546 S. Sherman, Posen, IL 60469. 6872 Michael Smith, 2896-G Evans Mill Rd., Lithonia, GA 30058: C, Georgia Nationals. 6873 M.A. Munoz, P.O. Box 638, Sandakan Sabah. Malaysia. 6874 Milt Blackburn, Box 33917 Station D, Vancouver, BC, Canada V6J 4L7; D, British Colonial, Africa, Arabic. 6875 T.O. Brown, 1 Bracres Lane, Frostproof, FL 33834; C. World- wide. 6876 Allan Taylor, 1033-38 57, Brooklyn, NY 11219; C. 6877 Charles Brundle, 509 Brand Lane #38, Stafford. TX 77477. 6878 Joseph Piekarski, 2905 N. Mango, Chicago, IL 60634; C. $2.00 Red Seals. 6879 Michael Rybachi, P.O.Box 138, Medinah, IL 60157; C, Na- tional Currency. COMING EVENTS PAGE — Regional Meetings — MINNEAPOLIS, MINNESOTA—April 25-28, 1985. Central States Numismatic Society Annual Convention and Coin Show. SPMC will hold an informal regional meeting at this event. Time and place to be announced. Watch this space and the numismatic press for further details. For general show information, contact Dick Grinolds, P.O. Box 18002, Minneapolis, Minnesota 55418. BALTIMORE, MARYLAND—August 20-25, 1985. American Numismatic Association 94th Anni- versary Convention, Baltimore Convention Center, Baltimore, Maryland. SPMC will hold a general membership meeting at this event. Watch this space and the numismatic press for further details. For general show information contact Carl Shrader, General Chairman, P.O. Box 3124, Landover Hills, Maryland 20784. National Meetings — MEMPHIS TENNESSEE—June 14-16, 1985. Memphis Coin Club's 9th Paper Money Show, Mem- phis Convention Center, Memphis, Tennessee. Usual activities—SPMC program and speaker. Watch this space and the numismatic press for further details. For general infor- mation, contact Mike Crabb, Chairman, P.O. Box 17871, Memphis, Tennessee 38117. 901-654-6118. CHERRY HILL, NEW JERSEY— November 14-17, 1985. International Paper Money Convention, sponsored by the Society of Paper Money Collectors, Hiatt Cherry Hill, Cherry Hill, New Jersey. Bourse, auction, educational and organization meetings, exhibits, awards break- fast, social activities. Watch this space and the numismatic press for further information. For general information, contact William H. Horton, Jr., Chairman, P.O. Box 293, Franklin, New Jersey 07416. 201-283-8504. - mom \‘P mart y Page 42 Paper Money Whole No. 115 WANTED: ILLINOIS NATIONALS and obsoletes-Carmi, Crossville, Enfield, Grayville, Norris City, Fairfield, Albion, Dahlgren, Omaha, New Haven. Pete Fulkerson, c/o The National Bank, 116 W. Main, Carmi, IL 62821 (115) MISSOURI CURRENCY WANTED: large size Nationals, obsolete notes and bank checks from St. Louis, Maplewood, Clayton, Manchester, Luxemburg, Carondelet and St. Charles. Ronald Horstman, Route 2, Box 242, Gerald, MO 63037 (118) Paper Money will accept classified advertising from members only on a basis of 5C per word, with a minimum charge of $1.00. The primary purpose of the ads is to assist members in exchanging, buying, selling, or locating specialized material and disposing of duplicates. Copy must be non-commercial in nature. Copy must be legibly printed or typed, accompanied by prepayment made payable to the Society of Paper Money Collectors, and reach the Editor, Gene Hessler, P.O. Box 416, Oradell, NJ 07649 by the first of the month preceding the month of issue (i.e. Dec. 1, 1983 for Jan. 1984 issue). Word count: Name and address will count as five words. All other words and abbreviations, figure combinations and initials count as separate. No check copies. 10% discount for four or more insertions of the same copy. Sample ad and word count. WANTED: CONFEDERATE FACSIMILES by Upham for cash or trade for FRN block letters, $1 SC, U.S. obsolete. John W. Member, 000 Last St., New York, N.Y. 10015. (22 words: $1: SC: U.S.: FRN counted as one word each) MARYLAND FISCAL PAPER wanted. I collect BBN's, scrip, coin notes, checks, stocks, tokens, letters, etc. pre-1900. Please describe or send photocopy. Price or I will make offer. Would also like to exchange information with any other Mary- land collectors. Howard Cohen, Drawer CP160, Manhattan Beach, CA 90266 (115) WANTED: OLD CANCELED checks from the Hamilton and Cunningham Bank of Hoopeston, Ill. Write to Mike Fink, 504 E. McCracken, Hoopeston, IL 60942 (115) WANTED: COLUMBIA ILLINOIS Nationals. Also Water- loo, Illinois. Please price and describe. Paul L. Haudrich, 14860 Carrollton Dr., Bridgeton, MO 63044 (115) MINNESOTA NATIONALS WANTED from: Bertha #7373, Cold Spring #8051, Forest Lake #11652, Grand Meadow #6933, Kerkhoven #11365, Lake Crystal #11401, Lake Wilson #11293, Le Sueur #7199, Le Sueur Center #6921, Madison #6795, Minnesota Lake #6532, Osakis #6837, Richfield #12115, Rochester #2316, Roseau #11848, St. Charles #6327, Sauk Centre #3155, Thief River Falls #5894, Verdale #6022, Windom #6396. Please send description and price. I will appreciate your help. Gary Kruesel, Box 7061, Rochester, MN 55903 (115) WANTED: NATIONALS FROM Hoopeston, Ill. charter 2808, 9425, 13744; Milford, Ill. charter 5149, Boswell, Ind. charter 5476; Freeland Park, Ind. charter 7437; and Ambia, Ind. charter 9510. Write to Mike Fink, 504 E. McCracken, Hoopeston, IL 60942 (115) RHODE ISLAND NATIONALS-buying all small and Woonsocket and Cumberland large. Selling large and small sizes, over 100 notes. RINATS, P.O. Box 33, Ashton, RI 02864-0033 (115) WANTED: GERMAN NOTGELD, collections, accumula- tions, dealers' stocks. No Austrian. Frank P. Fritchle, 1163 Pomegranate Ct., Sunnyvale, CA 94087 (117) WANTED: MACERATED MONEY: postcards and any other items made out of macerated money. Please send full details to my attention. Bertram M. Cohen, PMW, 169 Marl- borough St., Boston, MA 02116 (120) OLD STOCKS AND bonds. Send $2 for latest Mail Bid Cata- log & Sales Catalog. Also buying! Paying highest prices for beautiful and very old material. Railroads, oil companies, tele- graph, industry, government, etc. Especially need Western material. Also need pre-1890 checks with pretty vignettes. Also will trade. Send SASE for free appraisal. David Beach, Box 5488, Bossier City, LA 71111 (318) 747-0929 (121) WANTED KOREA & SOUTH Korea banknotes. Example: all CU South Korea p30 1 won .75; p31 5 won 1.20; p32 10 won 6.00; p33 10 won .85; p34 50 won 25.00; p35 100 won 25.00; p36 100 won 15.00; p40 50 won 3.50. Namchong Cho, 726 Bode Circle #110, Hoffman Est., IL 60194 (121) I COLLECT CALIFORNIA, Nevada, Alaska, Hawaii and all other Western stocks, bonds, checks, drafts. Please sell to me! Ken Prag, Box 531 PM, Burlingame, CA 94010 (phone 415-566-6400) (119) WANTED: VIRGINIA NATIONALS on the following towns: Big Stone Gap #11765, Wise #10611, Clintwood #8362, Powell Valley #9924, Norton #9746, Norton #6235. Send description and price. Don Green, Box 681, Wise, VA 24293 (116) NATIONAL CURRENCY: Over 300 different duplicates to sell or trade. SASE brings list. J.S. Apelman, Box 283, Covington, LA 70434 (116) EASTMAN COLLEGE CURRENCY wanted. Also obsoletes with vignettes: Declaration Signing, Washington's Crossing, Drummer Boy, Five Presidents, Cowboys. Also matrimony notes. Robert W. Ross III, P.O. Box 765, Wilmington, DE 19899 (116) WANTED: FINANCIAL DOCUMENTS - checks, drafts, warrants, exchanges, certificates of deposit, stocks and bonds - especially pre 1900 Western States and Territorial items. Buy, sell or trade. Vern Potter, P.O. Box 10040, Torrence, CA 90505-0740 (115) DENTON, TEXAS NATIONALS WANTED, Large or small size. Also checks. Send xerox or describe with asking price. Frank Clark, Box 25248, Dallas, TX 75225 (115) FLORIDA AND GEORGIA NATIONAL WANTED, also the following towns: Schenectady, NY, Erie, PA, Newberry, SC and Mineral Wells, Texas. Trade list available. Shayne MacMahon, Box 13282, Gainesville, FL 32604 (117) DALLAS, TEXAS SMALL SIZE NATIONALS WANTED. Also checks. Send xerox or describe with asking price. Frank Clark, Box 25248, Dallas, TX 75225 (115) RHODE ISLAND-buying Broken Bank notes and Nation- als, please send description with photocopy if possible. A Raymond Auclair, 381 Blackstone St., Woonsocket, RI 02895 (115) Paper Money Whole No. 115 Page 43 WANTED: LAUREL, MISSISSIPPI Charter 6923. Please de- scribe and price. SPMC, LM ANA and MNA. Everett Sorrels, P.O. Box 2362, Laurel, MS 39442. (116) MASSACHUSETTS 1929 NATIONALS wanted from : Ab- ington #1386, Danvers #7452, Edgartown #7957, Haverhill #14266, Hyannis #13395, Lynn #697, Merrimac #268, Milton #684, Reading #4488, Spencer #2288, Springfield #2435, Stockbridge #1170, Webster #2312, Webster #13780, Whitman #4660, Woburn #14033. Please send description and price. I will appreciate your help. Frank Bennett, Box 8153, Coral Springs, FL 33075. (119) ILLINOIS NATIONALS WANTED: Allendale #10318, Ben- ton #8234, Chester #4187, Dahlgren #7750, Fairfield #5009 & #6609, Johnston City #7458, Mt. Vernon #1996, New Haven #8053, Norris City #7971, Olney #2629, Wayne City #10460, Winchester #1484. C.E. Hilliard, 201 E. Cherry, Winchester, IL 62694 (217) 742-5703. (118) TRADE: MY NATIONALS FROM ARK, CA, CT, IL, IN, IA, KS, KY, ME, MD, MI, MO, NEB, NJ, NY, OH, PA, RI, TX, VA, VT, W.VA, WI, for your New York nationals, large or small size. SASE receives individual (trade or sale) lists of your selected states. Limit (3) states. All inquiries answered. I buy too ! Mike Robelin, P.O. Box 138, Commack, NY 11725 (116) WANTED: NEW YORK NATIONALS, LARGE AND SMALL SIZE. Have over (35) states of nationals to trade (or sell). All inquiries will be answered. Mike Robelin, P.O. Box 138, Commack, NY 11725 (116) KANSAS NATIONALS WANTED, collector seeks both large and small size, scarce and better condition Kansas bank notes. C. Dale Lyon, P.O. Box 1207, Salina, KS 67402 (122) RED SEAL NATIONALS WANTED, Collector seeks Hi grade and scarce Third Charter Period Red Seal National Bank notes with emphasis on notes bearing serial #1, and notes from scarce states. C. Dale Lyon, P.O. Box 1207, Salina, KS 67402 (122) BUY-SELL-TRADE Uncirculated $1 FRN, 1963 to 1981A. One note to complete block sets. Rufus Coker, R#6 Box 218, Portland, TN 37148 (119) BEAUTIFUL OBSOLETE UNITED STATES Government Certificates, hundred years old, $1.50 on up. Frank Sprinkle, 304 Barbee Blvd., Yaupon Beach, NC 28461 (115) WEEPING WATER, NEBRASKA (#3523) Large nationals wanted. Notes signed by Thomas Murtey, Cashier. Send description and price to Mark Paden, 5600 Riviere Dr., Charlotte, NC 28211 (119) WANTED: OHIO NATIONAL BANK NOTES. Private col- lector, Lowell Yoder, Box 100, Holland, OH 43528, 419- 865-5115 (119) BUYING ALABAMA MATERIAL: NATIONALS, OBSO- LETES, checks, stocks, cards, North Alabama, Florence, Huntsville. Write Bob Whitten, 217 E. Irvine Ave., Florence, AL 35630 (119) FREE SAMPLE. POSTCARDS of original old Gold and Silver Mining Stock Certificates from Nevada Territory 1863-64. The Mining Stock Certificates are from the James S. Reynolds col- lection of Nevada Historical Documents. Set of 24 different postcards $3.60 postpaid. Copyright 1984. Dealer inquiries in- vited. James S. Reynolds, Box 31293, Tucson, AZ 85751 (117) WANTED - $2 FRN End Labels from (A) Boston, (B) New York and (G) Chicago needed to complete a series set for my personal collection. Stephen R. Taylor, 70 West View Ave.. Dover, DE 19901 (117) NATIONAL CURRENCY SHEETS FOR SALE, including many #1 sheets. Almost all 48 states available with several from Grinnell. Please send want list. Stan Kesselman, 15 W. 81st St., New York, NY 10024 WRITE NOW FOR MY SUPER PRICE LIST of obsoletes, na- tionals, legal tenders, checks & much more! SASE brings list. M. Ray, P.O. Box 2409, Muscle Shoals, AL 35662 MISSISSIPPI OBSOLETE NOTES WANTED FOR MY COLLECTION. Criswell's numbers 12, 32, 37, 47, 48C and 54. Please describe and price. SPMC, LM, ANA and MNA. Everett Sorrells, P.O. Box 2362, Laurel, MS 39442 (117) BANK OF CHARLOTTE (North Carolina) obsolete currency wanted. Also want Charlotte Branch issues of Bank of the State of North Carolina and the Bank of North Carolina. Send photocopy, description and price to Mark Paden, 5600 Riviere Dr., Charlotte, NC 28211 (119) NEW YORK NATIONALS WANTED. Athens, Catskill, Cox- sackie, Germantown, Hudson, Hunter, Kinderhook, Philmont, Tannersville, Windham. Send description and price. All letters answered. Robert Moon, Box 81, Kinderhook, NY 12106 (120) KALAMAZOO, MICHIGAN NATIONALS AND NATION- ALS from Fishers, Indiana, Palestine, Texas and East Palestine, Illinois wanted. Specimen notes of Kuwait, Jordan and Saudi Arabia wanted. Jack Fisher, 912 American National Bank Building, Kalamazoo, MI 49007 (119) FOR SALE-SEND STAMPED SELF ADDRESSED #9 EN- VELOPE for large list of Korean, N. Korean & S. Korean banknotes. Charles H. Witten, Box 174, Williams, MN 56686 EGYPTIAN BANKNOTES. Information on pre-1920 notes wanted by researcher. Send dates, prefix number or photo- copies, will purchase notes and/or pay copying cost. I would ap- preciate hearing from anyone who can help. Ahmed Elseroui, Cairo-El Manial, P.O. Box 26, Egypt. WANTED VIRGINIA: Nationals, Broken Bank and Scrip. Send description. Corbett B. Davis, 2604 Westhampton SW, Roanoke, VA 24015. (128) WANTED: MAINE NATIONAL BANK AND OBSOLETE NOTES, Maine tokens. Describe and price or I will make offer. Donald Priest, 41 Main St., Fairfield, Maine 04937 (121) TRADING MY WORLD COINS for your world paper money. Only low values, no gold but some silver pieces. Insurance and postage on heavy coins extra. Tim Fleming, 627 W. Lockwood, Webster Groves, MO 63119 INFORMATION WANTED ON PAPER SCRIP issued by McNeal Coal Company of Pennsylvania. Frank Sprinkle, 304 Barbee Blvd., Yaupon Beach, NC 28461 (116) DR. A. SHARGHI A private collector and specialist in Iranian Banknotes is keen to buy any Iranian Items. Also is interested to make contact and exchange informa- tion with all collectors who have any interest in Iranian Banknotes and to swap any duplicates Please write to: Dr. A. Sharghi, 2500 Olivia Court, Virginia Beach, VA 23454, U.S.A. Tel: 804 481695 Here, How To Satigy Your Greate5t Hobby Need Are you unhappy with the number of paper money articles in coin-related newspapers and magazines? If you are, chances are you're not getting all the paper money information you need. Good news. Your subscription to Bank Note Reporter will give you a monthly newspaper devoted exclusively to paper money, both U.S. and foreign. Bank Note Reporter will give you reports on auctions, new issues, upcoming shows, new publications, discoveries and new organizations. The historical features in Bank Note Reporter will take you back into history. You'll read about military currency, bonds, stock certificates, Confederate currency, world paper, state banknotes and U.S. large and small size notes. Plus you'll have plenty of photos, trustworthy advertising and a complete U.S. value guide. It can all be at your fingertips each month, when you subscribe to Bank Note Reporter. Be part of the excitement! Satisfy your need for paper money information with a subscription to Bank Note Reporter. Your Guarantee If for any reason you decide to cancel your subscription, simply drop us a note before you receive your second issue and we'll refund your entire payment. After the second issue we'll refund on all undelivered issues. Collectors saw it first, right here! Who broke the news about upcoming changes in U.S. currency? Bank Note Reporter! It's true. With the aggressive reporting of our full-time Washington Bureau, BNR was the first to present facts concerning the revamping of our notes. We scooped everyone, including other hobby publications, daily newspapers, and electronic media. When you join Bank Note Reporter you'll be part of a select group looking to every issue for fresh news. Make certain you have Bank Note Reporter for all the vital data affecting your hobby. Sign up now! Send your subscription request along with $11 for one year (12 issues) to: Bank Note Reporter, 700 E. State St., Iola, WI 54990. ""litr-64114r 1O:hh:EF:t; 0)T1.‘ See Page 6 %vs dy Paper Money Standard paper catalog ea Hessler book sees new edition Page 44 Paper Money Whole No. 115 krause V,-,‘1- , publications 700 E. State St., Iola, WI 54990 StaDdart.1 of Modk,rn United State , Paper Moyle. Paper Money Whole No. 115 Page 45 Instant Access To Paper Money Information Featuring The Hobby's Premier Lineup Of Publications Standard Handbook of Modern United States Paper Money 7th Edition by Chuck O'Donnell $15 postpaid This is the most comprehensive catalog available for collectors of small-size currency. Noted author and specialist Chuck O'Donnell has done the leg work for us with his extensive research in the Treasury Department archives and the Bureau of Engraving and Printing. Presented are complete listings and market values for all small-size issues from 1928-1981. Important coverage for all issued serial numbers since the skip-numbering of certain issues began in the 1970's is also included. Plus a bonus ... details for rare and valuable mules, trial and experimental issues — once the domain of a few select researchers — will be at your fingertips. Catalog has 336 pages. Important fact: Over 14,000 serial number blocks and groups are recorded in date-within-denomination sequence. Standard Catalog of World Paper Money 4th Edition Specialized Issues By Albert Pick $40 postpaid Companion Volume to 4th Edition General Issues This volume is unsurpassed in its coverage of State, Prs-vincial, Territorial and Colonial issues. Over 15,000 notes are listed, described and valued with representation for over 250 years of world paper money. Data that was once locked away in obscure catalogs — or in some cases never made known — is available in this special catalog. Author Albert Pick, a resident of Munich, West Germany, is universally recognized as the world's foremost paper money authority. Assisting Pick stateside were Neil Shafer, president of the International Bank Note Society and Colin Bruce II, editor for many of Krause Publications' respected coin and paper money references. Over 300 note-issuing authorities are presented. Over 6,500 photos provide strong visual aid. Important features: Complete listings for South and Central America (private and commercial banks), China (provincial banks), Mainland Europe (commercial banks) and British Crown Colonies (commercial banks). Auction Prices Realized, U.S. Paper Money 1983 Edition. Compiled by Bob Wilhite. $40.00 postpaid Like its coin-related counterpart, Auction Prices Realized, U.S. Paper Money will give you a vital (yet all too often neglected) view of the auction market. This 360-page catalog offers coverage of 19,830 paper money lots from 140 public auctions and mail-bid sales. Listings cover the period from 1978 through 1982. Notes are sequenced by face value within the principal categories of Large and Small Size Notes, National Bank Notes, Fractional Currency and Encased Postage Stamps. A major benefit of owning this catalog is that it saves you the hassle of matching auction catalogs with prices realized sheets. When buying, look at the auction results as indicators of real market value. When selling, let auction results help you choose the more lucrative route; to sell through ads, etc., or sell at auction. When the success of your paper money transactions depends on your grasp and interpretation of the market, you'll have a definite advantage when you use this reference catalog. Standard Catalog of United States Paper Money 3rd Edition by Chester Krause and Robert Lemke $14.50 postpaid If you rose above our hobby for a moment, and looked down, you'd get a feel for the scope of this catalog. Here is a comprehensive over-view of all currency issues of the United States — more than 120 years of official and quasi-official paper money. Presented for visual aid are over 525 original photos, covering all types and major varieties. Over 3500 currency items are valued according to current market conditions. Attesting to its thoroughness, this catalog provides an illustrated guide to Fractional Currency, Encased Postage Stamps and Postage Stamp Envelopes. Hobby veterans will appreciate this catalog for the fast access it gives to all areas of our hobby. Though less detailed than the other catalogs offered, it will provide easy-to-get-at researching and pricing data for non-specialty areas. Important feature: Over 13,000 note-issuing National Banks are listed alphabetically, by city ... know instantly whether a city issued currency! These catalogs and Bank Note Reporter are available from Krause Publications. Send your orders directly to us, at the following address ... 32 years of serving collectors with superior hobby publications COINS OF THE REALM, INC. stiKilKWOCPWArosnanAnKrekt.ftt ,te"-J` F1,7201% t21: L:11 1. iihare-^A Dealers in choice world bank notes 1327-D Rockville Pike Rockville, Maryland 20852 Phone (301) 340-1640 SPIEJOICS MQ.)-FID.41 PRICE GUIDE "Collecting Stocks and Bonds" by George H. LaBarre. 368 pages, 1,158 illustrations with descriptions and values of American stocks and bonds. Includes railroads, mining, automotive, banking, western, southern, 1770's to present. Complete 3 volume set $14.85 postpaid. Dealers inquiries invited. WE ARE VERY ANXIOUS TO BUY FINE DUALITY AMERICAN STOCKS AND BONDS. Note: The LaBarre Newsletter is sent out Quarterly Free of Charge. Price Lists are also issued Monthly. F.0 It (:1-1 11. LA BARRE GALLERIES I NI P.O. Box 746 Hollis, New Hampshire 03049 CALL ANTvTimE blr: 800-842-7000 c1603-882-2411 FREE 13th ANNUAL S‘' \IAD NUMISMA tics, 50 The "biggest" little coin and paper money show In New England C. John Ferretti, P.O. Box 33, Storrs, CT 06268 50 Dealers Bourse Exhibits Public Invited - Free Admission ELKS LODGE Pleasant St., RI. 32 Willimantic, Conn. Sunday, March 10, 1985 50 Page 46 Paper Money Whole No. 115 PAPER MONEY COLLECTORS Join us on Sunday, March 10th . . . The Largest Gathering of Paper Money Dealers Outside of the "Memphis" Show Featuring these Leading Paper Money Dealers 1. Denly's of Boston, (Tom Denly)—U.S. Large, Small, Obsolete notes & Sheets, Scrip, MPC. 2. Kennebunk Coins & Currency, (Frank Trask)—U.S. Large, Small, Nationals, Obsoletes. 3. Kenneth Elwell—U.S. Nationals, Obsoletes, Type Notes, Early Checks. 4. Numisvalue, (Barry Wexler)—Obsolete Currency, Nationals, U.S. Type Coins. 5. Charles E. Straub—U.S. Obsoletes & Sheets. 6. RINATS, (Roland Cormier)—Rhode Island Nationals. 7. Warwick Associates, (Harry Williams)—U.S. Large, Small, Nationals, Obsoletes, Checks, Medals. 8. Chet Grabowski—U.S. Paper Money, Checks, Medals, Ephemera. 9. Silver City Coin Co.—U.S. & Foreigh Paper Money & Coins. 10. Harold Cuddy—Early U.S. Coins & Paper Money, State Bank Notes. 11. Mary Sager—Fiscal Paper, Americans, Medals, Tokens. 12. Richard J. Balbaton—Broken Bank Notes, U.S. Large, Foreign Banknotes. 13. Colony Coin Co. (Arthur Fitts)—Foreign & U.S. Coins, Currency, Tokens, Ancients. 14. Roland Hill—All U.S. & Obsoletes, Photos, Postcards, Americana, Books, Bonds, Railroadiana. 15. Finn & Kracov—Obsoletes, U.S. & Foreign Currency & Coins, Medals. 16. M.S. Rare Coins—Exonumia, Tokens, Medals. 17. New England Syngraphics—Uncut Sheets, National Banknotes. 18. Del Beaudreau—Foreign Paper Money. 19. Whaling City Coins, (Tony Serluca)—U.S. Paper, Coins, Jewelry, Gold. plus 30 other coin, paper money ephemera dealers en ITEM: Numismatic News helps reverse the Treasury's decision to omit silver from the Ike dollar (we now enjoy 40% silver Ikes!) ITEM: Numismatic News convinces the GSA to properly grade Carson City dollars sold from the government's hoard (scratched, nicked and tarnished specimens were to be sold as uncirculated!) * * * ITEM: Numismatic News successfully lobbies against middle-man profits in the Olympic coin programs. Been on the block for 32 years. Saw some questionable hobby programs come down from Washington in that time. Got involved with all of them. Knew from experience what to do — how to go about changing minds and policies. Victories for the hobby were sweet. There are more to come. Stick with us. Support us. Now more than ever, we're ready to serve your interests. numismatic news WANTED PAPER MONEY OBSOLETE AMERICAN FOREIGN Gold and Silver Collections Ancients and Treasure Coins Especially HIGH PRICES Paid For FLORIDA OBSOLETES, NATIONAL BANK NOTES & BONDS F.S. Werner 8198 Royal Palm Court A.N.A. Tamarac, Florida 33321 P.N.G. LM 920 Tel. (305) 722-9778 249 Paper Money Whole No. 115 Page 47 Free Obsolete Currency Catalog fharles f.:Otraub P.O. Box 200 Columbia, Connecticut 06237 (203) 642-7895 BANKS 0,1 1. 1.01 _f4, II yfigN 1892 THE BALLOU STATE BANKING COMPANY $65 Green/Black/White Capital Stock certificate from the state of Iowa, with a very attractive vignette of a dog guarding a safe. Light folds, otherwise VF + , a single item. Our Current BANK listing includes more than 3 dozen Bank stocks, from 1812 to 1933, many engraved vignettes by the American Bank Note Company. Call or write today and ask for our BANK listing, or for our general cata- logue of more than 150 stocks and bonds. CENTENNIAL DOCUMENTS 1-21 28th Street Fair Lawn, NJ 07410 (201) 791-1683 Page 48 Paper Money Whole No. 115 FOR SALE CURRENCY FOR SALE U.S.A. LARGE & SMALL SIZE CURRENCY INCLUDING: NATIONAL CURRENCY OBSOLETE CURRENCY RADAR & FANCY SERIAL NUMBER NOTES "ERROR" NOTES & OTHER TYPES LARGE MAIL LISTING AVAILABLE FOR A LARGE-SIZE, SELF-ADDRESSED STAMPED ENVELOPE. 10-DAY RETURN PRIVILEGE. YOUR SATISFACTION GUARANTEED . ROBERT A. CONDO P.O. BOX 985, VENICE, FL. 34284-0985 IAN A. MARSHALL WORLD PAPER MONEY A-Z (AFRICA A SPECIALTY) P.O. BOX 537 THORNHILL, ONT. CANADA L3T 200 Bi-Monthly Retail • Wholesale Lists FREE LISTS • U.S. Obsoletes • U.S. Large & Small Size Type Notes • U.S. Large & Small National Bank Notes • Canadian BOUGHT AND SOLD FREE PRICE LIST FRANK TRASK SPMC, ANA KENNEBUNK COINS & CURRENCY P.O. Box 787, Kennebunk, Maine 04043 (207) 985-7431 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 NATIONAL CURRENCY $ 1 First Charter #1350 Auburn, NY G/VG 145.00 $ 5 1875 #2588 New Hampton, Iowa Fine 650.00 $ 20 1882 BB #1431 Hagerstown, MD F/VF 600.00 $ 10 1882 DB #P4668 Spokane, Wash. Fine 750.00 $ 5 1902 #9502 Oakland, Calif. VG/F 55.00 $ 10 1920 DB #W3578 Mitchell, SD F/VF 250.00 $ 20 1902 #W5180 Columbus, Nebr. VF 275.00 $ 20 1902 DB #P4668 Spokane, Wash. VG 85.00 $ 20 1902 #M4318 Cleveland, Ohio VG 55.00 $ 20 1902 #W2830 Canton, SD VF/XF 375.00 $ 10 1902 #12284 Niagara Falls, NY CU (2nd Title) 235.00 $ 10 1902 #M1924 Coldwater. Mich. VG 115.00 $ 10 1902 #180 Parkersburg, WV VF/XF 165.00 $ 20 1902 #4668 Spokane, Wash. F/VF 95.00 $ 10 1902 DB #W3218 Winfield, KS AU 395.00 $ 20 1902 #13091 Aberdeen, Wash. XF 650.00 $ 5 1902 #4514 Portland. Oregon VF/XF 75.00 $ 10 1902 #11627 Ivanhoe, Minn. F/VF 325.00 $ 5 1902 #2669 West Grove, PA VG/F 225.00 $ 10 1929 #2379 New York, NY AU 25.00 $ 20 1929 T2 #10865 Winona, Minn. Fine 75.00 $ 20 1929 #4552 Whapeton, ND F/VF 185.00 $ 20 1929 #142 Marietta, Ohio VG 35.00 $ 10 1929 #2570 Grand Forks, ND Good 65.00 $ 10 1929 #4514 Portland, Oregon VG 19.00 $ 10 1929 #2073 Northfield, Minn. VG 165.00 $ 10 1929 #8186 Crofton, Nebr. AU 225.00 $ 5 1929 T2 #2782 Wichita, KS Ch CU 85.00 $ 10 1929 #11579 Nashwauk, Minn. VF 225.00 $100 1929 #4374 Butler, PA XF (2nd Title) 445.00 $ 10 1929 #8321 Jacksonville, FL Fine 35.00 $ 20 1929 #4686 Everett, Wash. CU 165.00 $ 5 1929 #1690 Austin, Minn. Ch CU 95.00 $ 5 1929 T2 #1690 Austin, Minn. Ch CU 115.00 $ 20 1929 #7685 T2 Layton, UT XF 650.00 $ 20 1929 #2404 Marlborough, Mass. F/VF 125.00 $ 20 1929 T2 #984 Indianapolis, Ind. CU 65.00 $ 20 1929 #1690 Austin, Minn. Ch CU 175.00 $ 20 1929 #7408 Denver, Colo. CU 75.00 $ 10 1929 #7004 Fort Morgan, Colo. G/VG 75.00 $ 10 1929 #8989 Worthington, Minn. Fine 145.00 $ 20 1929 #3023 Lewiston, Idaho F/VF 375.00 $ 10 1929 T2 #1690 Austin, Minn. Ch CU 115.00 $ 20 1929 #10686 Camas, Wash. FIVE 350.00 $ 20 1929 T2 #13230 Seattle, Wash. G/VG 65.00 $ 5 1929 #9712 Houston, TX Good 15.00 $ 5 1929 T2 #8645 Houston, TX VG 25.00 $ 5 1929 #5179 San Antonio, TX Fine 35.00 $ 5 1929 #4525 San Antonio, TX G/VG 20.00 $ 5 1929 #3131 Fort Worth, TX VG 25.00 $ 10 1929 T2 #6956 San Antonio, TX VG 35.00 $ 10 1929 #1657 San Antonio, TX G/VG 30.00 Satisfaction guaranteed. Seven day return privilege. Bank cards welcome, please send the information as it appears on your card. member ANA-SPMC. AURORA COIN SHOP 507 3rd Ave. #5-PM Seattle, Wash. 98104 Phone (206) 283-2626 Paper Money Whole No. 115 Page 49 WANTED OBSOLETE PAPER MONEY Fr (Bank Notes, Script, Warrants, Drafts of the AMERICAN WEST Oregon, California, Idaho, Nevada, Arizona, Utah, Montana, New Mexico, Colorado, Dakota, Deseret, Indian, Jefferson Territories! Cash paid, or fine Obsolete Paper traded. Have Proof notes from most states, individual rarities, seldom seen denominationals, Kirtlands, topicals; Colonial, Continental; CSA, Southern States notes and bonds. Also have duplicate West- ern rarities for advantageous trade. JOHN J. FORD, JR. P.O. DRAWER 706, ROCKVILLE CENTRE, N.Y. 11571. FLORIDA NOTES WANTED ALL SERIES *r171.114.0 t. en ,sert,, P.O. BOX 1358 WARREN HENDERSON VENICE, FLA. 33595 BANKNOTES ARE OUR BUSINESS IF YOU ARE SELLING: We are seriously interested in acquiring large size and scarcer small size United States paper money. We are interested in single items as well as extensive collections. We are especially in need of national bank notes and we also buy foreign paper money. If you have a collection which includes both paper money and coins, it may prove in your best financial interest to obtain a separate bid from us on your paper money as we deal exclusively and full time in paper money. We will fly to purchase if your holdings warrant. IF YOU ARE BUYING: We issue periodic extensive lists of U.S. paper money, both large size, small size and fractional. Our next list is yours for the asking. The VAULT Frank A. Nowak SPMC 933 P. O. Box 2283 Prescott, Ariz. 86302 Phone (602) 445-2930 Member of: ANA, PMCM 11.175:141/ —„, TIIE BANK OF S: LOUIS tAkailpro Airrq.5 ':1011111:11 Bank ,-,A=RiScquil:!1,401et• /4rW-tw,i-16441kOn..:, ST. LOUIS, MISSOURI OBSOLETES AND NATIONALS WANTED RONALD HORSTMAN ROUTE 2, BOX 242 GERALD, MISSOURI 63037 Page 50 Paper Money Whole No. 115 .criutr.,:trr Advertise In Official Bimonthly Publication The Society of Paper Money Collectors, Inc. Checks, Stocks & Bonds, And More! Join us and receive our quarterly journal, THE CHECKLIST • Information on all aspects of banking and business paper collectibles •Club Auctions •Free Classified Ads Regional chapters are being organized, slide pro- gram available, book projects, swap-box, and the friendliest collectors anywhere! For more Information. contact Check Collectors itotinb Tate Charles Kemp, Secretary 481 Morse #70 • Troy Michigan 48084 Paper Money Whole No. 115 Page 51 UiVia INC • P.O. BOX 84 • NANUET, N.Y 10954 BUYING / SELLING. OBSOLETE CURRENCY, NATIONALS• UNCUT SHEETS, PROOFS, SCRIP BARRY WEXLER, Pres. Member: SPMC, ANA, FUN, GENA, CCRT (914) 352-9077 e of /1,, i EARLY6-,,, e../jk A AMERICAN - 1\ v* NUMISMATICS ,-, .,,,,,„ *619-273-3566 COLONIAL & CONTINENTAL CURRENCY SPECIALIZING IN: SERVICES: q Colonial Coins q Portfolio q Colonial Currency Development q Rare & Choice Type o Major Show q EARLY Coins Coverage q Pre-1800 Fiscal Paper q Auction q Encased Postage Stamps Attendance q P.O. Box Members: Life We maintain the LARGEST ACTIVE INVENTORY IN THE WORLD! o SEND FOR FREE PRICE LIST AMERICAN NUMISMATICS c/o Dana Linett 276 q Ansonia, CT 06401 0 619-273-3566 ANA, CSNA-EAC, SPMC, FUN, ANACS SOL I 1r ..... IIKICHNOW MS•1111111 Omaha, Nebraska 68104P.O. Box 4289 • "Pronto Service" Page 52 Paper Money Whole No. 115 SUPERB UNCUT SHEETS BUYING/SELLING Scarce/Rare Uncut Sheets (4, 12, 18). Also, we are Paying TOP Immediate Cash for Scarce/Rare Choice Large Size Notes. Especially Want National Bank Notes, Territorials, Two-Denomination, National Gold Bank Notes & Other Series. Also, Scarce/Rare $1.00 to $1,000.00 Type Notes in Choice CU Grade. We Invite your Inquiry & Want List. SASE for our List of Confederate & Large Size Currency. 1935-D $1 Silver Certificate Uncut Sheet (12) Clark- Snyder. While 100 Sheets were issued, O'Don- nell's 7th Edition "Standard Handbook of Modern U.S. Paper Money" records only 50 sheets report- ed. This GEM Sheet Priced SPECIAL @ $1,495.00 1928-G $2 Legal Tender Uncut Sheet (12). Clark- Snyder. Only 28 of the 100 sheets issued have been reported. This GEM Sheet just $1,695.00 SPECIAL-the Pair $2,895.00 I 928-D $1 Silver Certificate Sheet (12). Julian Wood- lin. Of the 60 Sheets issued only 28 have been re- ported. Over the years many Sheets have been cut up and the Notes were sold singly. Today singles bring $250.00. We offer the GEM Sheet @ only $3,895.00 1928-C $2 Legal Tender Sheet (12). Julian Morgen- thau. Only 27 of the 75 Sheets issued have been re- ported. This truly GEM Sheet Priced © just $1,795.00 1902 $5 National Bank Note Uncut Sheet (4). Na- tional Park Bank, New York City. CH. 891. F-595. This GEM sheet Priced @ just $2,495.00 1902 $5 National Bank Note Uncut Sheet (4). The Equitable National Bank, City of New York CH #6284. FR-595. Excessively RARE Red Seal Sheet, Possibly Unique. GEM, Crisp, New Priced © $7,500.00 CUT-SHEETS + LARGE NOTES Scarce Cut Sheets of four Large Size Notes. When reconstructed, they form a sheet as originally issued. 1899 $1 Silver Certificate Cut Sheet of 4 Notes. FR-233 $750.00 1 899 $1 Silver Certificate Cut Sheet of 4 Notes. FR-236 595.00 1923 $1 Silver Certificate Cut Sheet of 4 Notes. FR-237 225.00 1923 $1 Silver Certificate Cut Sheet of 4 Notes. FR-238 250.00 1918 $1 Federal Reserve Bank Cut Sheet of 4 Notes. FR-708, Boston 750.00 1918 $2 Federal Reserve Bank Cut Sheet of 4 Notes. FR-757, Cleveland 1,995.00 FRACTIONAL CURRENCY SHEET FIVE CENTS, FIRST ISSUE. FR-1230. Uncut Sheet (20). Single Crisp New Notes bring $75.00. This Superb CN Sheet comes with Wide Margins. Seldom offered and Priced @ only 1,900.00 ANOTHER-This Sheet is also Superb CN but has Narrow Margins. Special 1,500.00 SASE- for our Fractional Currency List Including Proof & Specimen Notes. RARE EXPERIMENTAL NOTES OBSOLETE SHEETS Beautiful Pristine Uncut Sheets. CANAL BANK, LA Sheet (2): $500 - $1,000 Crisp New, Nice "Exhibit Item" $ 99.50 1857 BANK OF FLORENCE, NEBR. Uncut Sheet(4): $1 - $1 - $3 - $5. GEM Cr. New 149.50 1857 WESTERN EXCHANGE FIRE & MARINE IN- SURANCE CO., OMAHA CITY, NEBR. Uncut Sheet(4): $1 - $2 - $3 - $5. SPECIAL 69.50 BUY ALL THREE SHEETS 249.50 CONFEDERATE SPECIAL SILVER CERTIFICATES-1928-B $1 #X00000011B; Y00000011B and 1928-A #Z00000011A. A Superb CN Set (3) 750.00 RED "R" & "S" NOTES 1935-A $1 Set(2): Red "R", Red "S". The Last Two Serial Nos. Match. Superb CR. New 325.00 Similar Superb CR Set-the Serial Nos. don't Match .. 295.00 Orders for any of the above Notes will be Shipped 1st Class Insured or Registered at our Expense. For Immediate Shipment send Cashier's Check or Money Order (Personal Checks take 20 to 25 Banking Days). 100% Satisfaction Guaranteed Always. Member: ANA Life #110, ANS, PNG, IAPN, SPMC, Others. AUBREY & ADELINE BEBEE WHY NOT GIVE US A TRY - WE WILL GREATLY APPRECIATE YOUR ORDERS - AND YOU'RE SURE TO LIKE DO- ING BUSINESS WITH BEBEE'S. SINCE 1941, TENS OF THOUSANDS OF "BEBEE BOOSTERS" HAVE. Y'ALL HURRY NOW - WE'LL BE LOOKING FOR YOU! 1863 $100 Ty. 56 Famous "Lucy H. Pickens" Note. GEM Cr. New 33.50 "Cut-Sheet" of Four GEM Cr. New 119.50 FAMOUS WADE SALE BEBEE's 1956 Sales Catalogue of the Great James M. Wade Collection @ Prices You'd Hardly Believe. Yours For Only (Postpaid) 5.00 Our currency auctions were the first to use the Sealed Mail Bid System, which gives you, the bidder and ultimate buyer, the utmost chance to buy a note at a price you want to pay with no one looking over your shoulder. As a seller, this method gives you the opportunity to get the full market price without the "in" dealers short-circuiting the bidding, as so often is seen at public auction sales. Purveyors of National Bank Notes & U.S. Currency to the collecting fraternity for over 20 years: .Hickman - Oakes Auctions inc. WITH 20 sales behind us, and just starting our September-June Auction year, we invite you to participate: As a seller: Our commission rate is 15% down to 10% without a buyer's charge, lot charge, or photo charge. As a buyer: Subscribe to our next year's sales and receive the catalogs, prices realized, price lists, and if you have purchased a "National Catalog" we will send the update, all postage paid for $10.00. Send Today! If you haven't yet purchased a copy of THE STANDARD CATALOG OF NATIONAL BANKNOTES by Hickman-Oakes, we will mail an autographed copy (if wished) with update supplement when available for $75.00 (about $12.00 per pound). Send to: Hickman --- °tikes Auctions ,Inc. Drawer 1456 Pm City, Iowa 52240 319-338-1144 It pays to look closely. You know that it pays to look closely when collecting. It does when you are thinking of selling, too. Since you collected with such care, we know you want to be equally as careful when selling. At Medlar's, we take pride in the fact that we've been buying and selling currency for over 25 years. So, we feel we must be doing something right for our many friends and customers. WE ARE BUYING: Texas Currency, Obsoletes and Nationals, Western States Obso- letes and Nationals, U.S. and Foreign Coins. We will travel to you to examine your holdings, Profes- sional Appraisals, or as Expert Witness. Member of SPMC, ANA, PNG, NLG, CPN edatt's RARE COINS and CURRENCY (BESIDE THE ALAMO) 220 ALAMO PLAZA SAN ANTONIO, TEXAS 78205 (512) 226-2311