Paper Money - Vol. XXV, No. 2 - Whole No. 122 - March - April 1986

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MARCH/APRIL 1986 111111111111111111111111111111111111111111111111 ■ 1 1 1 1111■111111111,111111111111111111111111111111111111111111111111111111111111111111111111111 TWENTY-FIFTH ANNIVERSARY 1 -FIFTH 1 1 1 I 1 1 1 I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 I 1 1 1 1 111111111 1 1 1 I 1 I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 I 1 I /111 1 1 1 1 1 1 I I I 11111111 111 1 11111111111 1111 11111 II I I I I I 1111111 1 uu 1918 $1 FEDERAL BOSTON F-708 (LOW #A161A) + NEW YORK #D401A) + RICHMOND F-721 (LOW #E70A) F-734 + KANSAS CITY F-738 + DALLAS new notes is from the famous JAMES M. 1918 $2 FEDERAL BOSTON F-747 (LOW #A1500A) + NEW CLEVELAND F-757 (LOW #D189A) + RICHMOND + ST. LOUIS F-771 + MINNEAPOLIS F-772 F-778. Also, from the JAMES M. WADE COLLECTION, for the LOW SERIAL NUMBERS (which 1. FRIEDBERG'S 10th Edition "Paper 2. HESSLER'S 4th Ed. "Comprehensive BEBEE'S is proud to offer this truly great WANTED RESERVE BANK NOTES F-711 (LOW #B900A) + PHILADELPHIA F-717 + CLEVELAND F-718 (LOW + ATLANTA F-726 + CHICAGO F-729 + ST. LOUIS F-733 + MINNEAPOLIS F-742 + SAN FRANCISCO F-743 ... This marvelous collection of superb crisp WADE COLLECTION and is priced SPECIAL @ $2,750.00. RESERVE BANK NOTES YORK F-750 (LOW #B125A) + PHILADELPHIA F-753 (LOW #C66A) + F-760 (LOW #E44A) + ATLANTA F-762 (LOW #F13A) + CHICAGO F-765 + KANSAS CITY F-774 + DALLAS F-776 (LOW #K40A) + SAN FRANCISCO these RARE GEM CRISP NEW NOTES, without making allowance command much higher prices), in the two leading paper money catalogue lists Money of the United States" $14,000.00 Catalog of U.S. Paper Money" $11,200.00 MUSEUM COLLECTION, specially priced $9,750.00. BUYING- -WANTED Please forward notes indicating prices desired or, for our TOP offer. Your notes will, of course, be accurately graded. (IF your notes are in slightly lower grade than the grades we desire, please write us before shipping). A QUICK, PLEASANT DEAL is always assured you at BEBEE's. DEMAND NOTE TERRITORIAL NATIONAL BANK NOTES 1861 $20 NEW YORK. FR .-11 VF to Unc. The Following BROWN BACKS wanted. 1882 $5 ARIZONA AU to Unc. 1882 $5 HAWAII AU to Unc. SILVER CERTIFICATES 1882 $5 OKLAHOMA AU to Unc. 1880 $1,000 Fr.-346B/D AU to Unc. #1882 $5 IDAHO AU to Unc. #1882 $5 WYOMING AU to Unc. # Second Choices: Other DENOM. & GRADES GOLD CERTIFICATES NATIONAL BANK NOTES 1882 $50 Lg. Red Seal. Fr.-1191 AU to Unc. The following BROWN BACKS wanted. 1882 $100 Brown Seal. FR.-1203 AU to Unc. 1882 $5 ALABAMA AU to Unc. 1882 $100 Lg. Red Seal. Fr.-1204 AU to Unc. 1882 $5 ARKANSAS AU to Unc. 1882 $100 Lg. Brown Seal. Fr.-1205 AU to Unc. 1882 $5 COLORADO AU to Unc. 1882 $5 FLORIDA AU to Unc. 1928 $500 Fr.-12404 Unc. only 1882 $5 IDAHO State AU to Unc. 1928 $1000 Fr.-240 Unc. only 1882 $5 MARYLAND Unc. only 1882$5 MISSISSIPPI AU to Unc. 1882$5 NEW HAMPSHIRE AU to Unc.NATIONAL GOLD BANK NOTES 1882 $5 NO. DAKOTA AU to Unc. 1870/75 $10 Fr.-1143/1151 VF to Unc. 1882 $5 RHODE ISLAND AU to Unc. 1882 $5 SO. DAKOTA AU to Unc. 1882 $5 WYOMING AU to Unc. COMPOUND INTEREST NOTES 1882 $5 NEVADA AU to Unc. 1864 $100 Fr.-193 EF to Unc. Except MD. will consider EF-AU Notes. AVAILABLE NOW: U.S. SALES LISTS = (A) Large Size Notes; (B) Large Size Nationals; (C) Colonial & Continental Currency; (D) Fractional Currency; (E) Confederate Currency. Please specify your collecting interest when request- ing any of these FREE lists. WHY NOT GIVE US A TRY—WE WOULD BUSINESS WITH BEBEE'S. SINCE 1941, WE'LL BE LOOKING FOR YOU! ANA AUBREY GREATLY APPRECIATE YOUR ORDERS—AND YOU'RE SURE TO LIKE DOING TENS OF THOUSANDS OF "BEBEE BOOSTERS" HAVE. Y'ALL HURRY NOW — & ADELINE BEBEE Life #110, ANS, IAPN, PNG, SPMC, Others A , Pcda "Pronto Service" Omaha, Nebraska 68104 oortssiow ( 'ul, AD NUMISMiniSn, ..L.•„ P.O. Box 4290 Paper Money Whole No. 122 SOCIETY OF PAPER MONEY COLLECTORS INC. a:4cm 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., 1986. 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 $15. Individual copies of current issues, $2.00. ADVERTISING RATES Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. Vol. XXV No. 2 Whole No. 122 MARCH/APRIL 1986 ISSN 0031-1162 GENE HESSLER, Editor Mercantile Money Museum Box 524, St. Louis, MO 63166 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 reject any copy. Deadline for editorial copy in the 1st of the month preceding the month of publication (e.g., Feb. 1 for March/April issue, etc.). Page 49 SPACE Outside 1 TIME 3 TIMES 6 TIMES IN THIS ISSUE Back Cover $72.00 $195.00 $367.50 25 YEARS AGO Inside Front & Matt Rothert, Sr. PAPER MONEY AND POST CARDS Back Cover $67.50 $181.50 $345.00 Bob Wester Full Page $59.00 $158.00 $299.00 UPDATE—INDIVIDUAL NATIONAL BANK CHARTERS BY Half-page $36.00 $ 98.00 $185.00 STATES WHOSE NOTES OF THE 1929-1935 Quarter-page $15.00 $ 40.00 $ 77.00 ISSUING PERIOD RECENTLY REPORTED Eighth-page $10.00 $ 26.00 $ 49.00 M. Owen Warns 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. 51 51 53 MORE . . . TYPES OF PAPER John W. Mercer 57 THE CONFEDERATE TREASURER'S REPORT Brent H. Hughes 58 FROM THE BRIGHT MOHAWK VALLEY— The Legacy Of The National Mohawk Valley Bank David Ray Arnold 60 SPINNER'S LADIES Gene Hessler 66 THE PAPER COLUMN Significance of Plate Dates on National Bank Notes Peter Huntoon 67 THE GREEN GOODS GAME Forrest Daniel 72 RAILROAD NOTES & SCRIP OF THE UNITED STATES, THE CONFEDERATE STATES AND CANADA Richard T. Hoober 74 SOCIETY FEATURES INTEREST BEARING NOTES 77 RECRUITMENT REPORT 77 AMERICAN BANK NOTE OFFERS COLLECTOR SERIES 77 COMING EVENTS 78 LETTER TO THE EDITOR 79 BEP CARD FOR ANA MIDYEAR CONVENTION 79 NEW LITERATURE 80 NEW MEMBERS 80 MONEY MART 81 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, Mercantile Money Museum, Box 524. St. Louis, MO 63166 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 BOARD OF GOVERNORS Charles Colver, Michael Crabb, C. John Ferreri, William Horton, Jr., Peter Huntoon, Charles V. Kemp, Jr., Roman L. Latimer, Donald Mark, Douglas Murray. Dean Oakes, Bernard Schaaf, MD, Stephen Taylor, Steven Whitfield, John Wilson. The Society of Paper Money Collectors was organ- ized in 1961 and incorporated in 1964 as a non- profit organization under the laws of the District of Columbia. It is affiliated with the American Numis- matic Association 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 notification to the secretary that the member has reached 18 years of age. Junior mem- bers are not eligible to hold office or to vote. Members of the A.N.A. or other recognized numismatic organizations are eligible for member- ship. Other applicants should be sponsored by an S.P.M.C. member, or the secretary will sponsor per- sons 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 $15. Members who join the Society prior to October 1st receive the magazines already issued in the year in which they join. Mem- bers 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 8 1/2 x 11" 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 OBSOLETE NOTES & SCRIP OF RHODE ISLAND AND THE PROVIDENCE PLANTATIONS, Durand $20.00 Non Member $25.00 NEW JERSEY'S MONEY, Wait $12.00 Non-Member $25.00 TERRITORIALS-A GUIDE TO U.S TERRITORIALS BANK NOTES, Huntoon $12.00 Non-Member $15.00 INDIAN TERRITORY / OKLAHOMA / KANSAS OBSOLETE NOTES & SCRIP, Burgett & Whitfield $12.00 Non-Member $15.00 IOWA OBSOLETE NOTES & SCRIP, Oakes $12.00 Non-Member $15.00 ALABAMA OBSOLETE NOTES AND SCRIP . $12.00 Non-Member $15.00 PENNSYLVANIA OBSOLETE NOTES AND SCRIP (396 pages), Hoober $28.00 Non-member $35.00 ARKANSAS OBSOLETE NOTES AND SCRIP, Rothert $17.00 Non-member $22.00 VERMONT OBSOLETE NOTES & SCRIP, Coulter $12.00 Non-member $15.00 • • Write for Quantity Prices on the above books. ORDERING INSTRUCTIONS 1. Give complete description for all items ordered. 2. Total the cost of all publications ordered. 3. ALL publications are postpaid except orders for less than 5 copies of Paper Money. 4. Enclose payment (U.S. funds only) with all orders. Make your check or money order payable to: Society of Paper Money Collectors. 5. Remember to include your ZIP CODE. 6. Allow up to six weeks for delivery. We have no control of your package after we place it in the mails. Order from: R.J. Balbaton, SPMC Book Sales Dept. 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. Page 50 Paper Money Whole No. 122 Paper Money Whole No. 122 Page 51 I N 1961 the American Numis- matic Association Conven- tion was held in Atlanta at the Atlanta Biltmore Hotel from August 16 to the 19th. My good friend, George Todd, was the gen- eral chairman and it was one of the best meetings of that era. Admiral 0. H. Dodson was the retiring president of the ANA and C.C. Shroyer was the newly elected president; Lewis Reagan was the general secretary. I was elected to the ANA Board of Governors that year, after having held the office of second vice-president for four years. I drove over to Atlanta with my son, Paul, who was about thirteen years old and Mr. and Mrs. Free- man from Newport, Arkansas drove over with their son, Sam. The two boys had a fine time to- gether and, accompanied by Mrs. Freeman, enjoyed the ANA trip to the Dahlonega gold fields. Mr. Freeman, who was the advertising 25 Years Ago by MATT ROTH ERT, SPMC Charter Member 166 ning. The formation of such a group had been discussed at the ANA convention in Boston the previous year, and Blaise had asked that the meeting be held in his home. The outcome of this meeting was the appointment of a steering committee to draft the by-laws of this new organization, to be named the "Society of Paper Money Col- lectors." This committee was com- posed of H. R. (Hank) Bieciuk of Kilgore, Texas, chairman, Dr. Juli- an Blanchard, James J. Curto. Eric P. Newman and Glenn Smed- ley. They were to report back to the collectors in attendance. We all signed a paper with name and ad- dress, and we became the charter members. When Blaise called the meeting we found that there were too many collectors to sit in the living room so he asked us to go to the base- ment playroom, which was larger. There were not enough chairs in manager of the Numismatist, and I and I could not go because we were involved in ANA board meetings. Mr. Blaise Dantone, a prominent coin dealer in the city, hosted a dinner for three hundred twenty-two guests at his beautiful estate in Atlanta. Drinks and hors d'oeuvres were avail- able at several outdoor bars and a sumptuous buffet dinner was served in their garden. A meeting of all the paper money collectors who were inter- ested in starting an organization was called for that same eve- the basement room, so I obligingly decided to sit on a small cocktail table instead of a chair. I weigh- ed a little more than I do now, and the table could not hold me. BANG! I went right on through to the floor with one leg of the table penetrating me in a most painful spot. I limped (hobbled) over to a soft seat and am surprised that I could remember the rest of the proceedings. After seeing a doctor I drove home sitting on a "rubber donut," which I still have as a remembrance of the eventful day when the Society of Paper Money Collectors was formed. ■ U-)apeCAlort,ey'and Post Wd5 by BOB WESTER A FINE presentation entitled, "Antiquated Paper Money"by Barbara R. Mueller appeared in the July/August,1979 issue of PAPER MONEY. Miss Mueller states that "hobby'sts looking for peripheral areas of specialization may wish to consider the history of syngraphics" as illustrated by the old imprinted advertising envelopes addressed to collectors by America's prominent dealers prior to 1900. During the last seven years or so, it has been a challenge to locate these envelopes. At present, my collection consists of four envelopes and perhaps fifteen postcards that relate to American numismatics before 1910. These have been difficult to locate, and when I am able to add even one to my collection I am satisfied, for the moment. Postcards with coin imprints are available, but appear to be extremely scarce with correspondence and postal cancellations. To find a postcard with a paper money imprint is one of the most pleasurable experiences to a collector. The illustrated Jamestown, Virginia Exposition postcard of 1907 is probably one of approximately twelve to exist. The face of the card, with a collage of scenes found in Jamestown, measures 6 x 9 inches. The design, similar to a Virginia Treasury note (Criswell 6) oc- cupies the back of this card; the portrait of Governor Letcher has been replaced with symbols that relate to the exposition. Miss Mueller further states that envelopes became popular ad- vertising mediums in the 1850s. My favorite envelope is the lovely Lyman H. Low imprint that is postmarked February, 1886, In the border of this card Mr. Low advertises everything he has to offer. And, the company name of B. Westerman, which is similar to my name, has a personal appeal. Page 52 Paper Money Whole No. 122 ( C'ewww.0e.wl. Ameriew, imnwt, Exexna k C THE CONFEDERATE NOTE A NATION'S PLEDGE Ste (with that we., in I, WefatongioAwl, a hwoi,a: weer, wa Vilthietwrawi And hi, tit • vowessawl thaw, Tiwt out .4 C33#4. They l dub ;5, gokl, Yet axsplel It taaei is our And wer e rb 000r ',swath* preriowt Amt mud. of a wra,w, tw borrow We ',Awl :wdey 1,0( MO' Aod iww,d reficen, en tire ewww Thedaye xadihe wwrisbwwww • 13ot etwoOlerx were. rrwq C,i31 cwww Att the 'Crew", TAkewl If 14 tWo; Ae Bat ow. !wave ihwuiAt ;ink wf Ake of tow' Ord LA dm; were weer eaw•— %T knee. I:4,00:h.: knew.cl zowLY .Twee the Gen w• www cAmnitx tould At. a, Evlit f:ower rec, Ft= Si, birth A th , e dw.w.:; Fite boa. leet and ei A... 4,,e bewe -,•• ,e..wehl. IT17,n fN 11•113 SPAC leYA Oi:h.hT NIVT„. 2&1- 101x4, J.3. 14.7isTERZAAN .N,Ar• d'elttaG CATALoona, ed..stees Aut. Cwiewial MiC(IS.tet: Iht•a:wicr.1 the. fhowit,1:,,,, Note, };tte 11,.k t i t..hwwwlsmnt, •tm 'rokewe Vif:0 , (1:1AC ZI,t; Many of the current business cards of collec- tors and dealers are quite interesting to me. I collect these and look forward to those yet to come. ■ stwck latttaAlot la ttalyg,:we :. Purrigro Nortsi N EXPOS1TION OPENS A twewte,st The r,.tnt of i ht Er,t Pernsh.Intwt DER 30=t Cr, 7 2 3 JAuF. lokAlsrmtuo.1 unixsto 0000297A li111104 MILLINGTON ace,o4A. C4 FIVE! IfOLLARS DO0t12J • imPleop4w, WIEMORIMMINOIMOWIMia,- ,I.A1t6,..9.1 , 11101115111n..1•, : E000007A PINKInd Of Ln LILINC s ION x i 4 0 MONTANA 911- t0 cl FIVE IIOLLAIIS E000007A Paper Money Whole No. 122 Page 53 Update .. . Individual National Bank Charters By States Whose Notes Of The 1929-1935 Issuing Period Recently Reported by M. OWENS WARNS, NLG W ITH the surfacing of twenty-seven previouslyunreported charters listed in this issue of PAPERMONEY, the remaining number to surface and be recorded has been reduced to less than 400. [See Supplement XV] The present status of the unreported charters: (a) number of charters issuing small-size nationals .. 6994 (b) number of charters whose notes have not surfaced prior to this report 392 Among the recently surfaced charters society members will find several interesting notes, i.e., The Vassar-Millington National Banks of Michigan; The National Park Bank of Livingston, Montana; The Crestwood National Bank of Tuckahoe, New York; The First National Bank of Florala, Alabama; The Hoblitzell National Bank of Hyndman, Pennsylvania; The First National Bank of Elloree, South Carolina; The Peoples National Bank of McMinnville, Tennessee; the Ronceverte National Bank of Ronceverte, West Virginia and others. THE VASSAR AND MILLINGTON NATIONAL BANKS OF MICHIGAN The Vassar National Bank of Vassar, Michigan charter 8723 was established on May 6, 1907; it was capitalized at $25,000. The bank's initial officers were Frank Hellerick, president, fol- lowed by George Vertengruber, G.D. Clark was the cashier fol- lowed by C. H. Stevenson. Under the Vassar Bank Title only Third Charter notes were issued, i.e., Red Seals, Date Backs, and Plain Blue Seals; no small-size nationals were issued. The Vassar National Bank title was changed on November 27, 1926 when the bank was placed in receivership and succeeded by the Millington National Bank retaining the Vassar charter 8723. The two towns are within eight miles of each other in Tuscola Coun- ty. At the time Millington's population was 1000 while Vassar boasted some 2500 souls! The Millington Bank issued notes of a single denomination: 4632 Ty-I $5s. We are indebted to Allen Karns for reporting this very interesting specimen illustrated here. EARLY MONTANA CHARTER SURFACES The National Park Bank of Livingston, Park County, Montana was granted charter 3605 in December of 1886 after succeeding a territorial bank. It was capitalized at $100,000; the initial offi- cers were: T.H. Talcott, president and J.C. Vilas, cashier. Mea- ger amounts of Ty-1 small-size nationals were issued, i.e.. 282 - $5s and 60-$10s [This was the least amount of 1929-1935 $10 notes issued by a Montana Bank!] A dozen American Beauties to Milton M. Sloan for his perserverance in tracking down this rarity. Two Montana Charters remain unreported: 10715 Hobson and 10939 Grass Plains. RECENTLY SURFACED CHARTERS REPORTED BY ALLEN & PENNY MINCHO The First National Bank of North East Pennsylvania was granted charter 9149 in May of 1908 after it was established with a capital of $50,000. North East is situated in the Eastern coal mining district of the State with a population of around 3,000. RtenataX4R. maiRsuciva.viictomeu. „ THE F000575A NATIONAL SANK OF NORTH EAST PENNSYLVANIA TEN /LIARS F000575A TENIKOLLIHS 01 Ot Asem Igfl 57; =glom wargrasni-7- "..k)4.; - toocf,1102 - 9-litiv,13:crlisl,=; - • THE FOCI NATIONAL BAH OF K.0 CROSBY01 • NORTH U.K. EWE 0101.4tES A001153A A001153A 1 0 1 5 9 • 6 Moseir- qin ENMMEgg, DMAN& THE CENTERVILLE NATIONAL BANK CENTERVILLE IOWA 1041141201S C 0 0 0 0 4 2 A Q.ca CO00042A 'NE TIPS! MAMMAL 811110 CONRAD TEN 11m111.1.Allt«, e000C(3A Ty-I notes issued: 1992 $10s and 498 $20s. (illustration courtesy of Al Hurt) THE NORTHERN A000023A CALIFORNIA RATIONAL BM Of O REDDING O CALIFORNIA ONE BUNIIHEDDOLLARS A000023A `Z. THE PEOPLES F000743A NATIONAL BANK OF Mr MINN% II LE TEN 1191.1,NES F000743A Page 54 1929-1935 notes issued: Ty-I, 5460-$10s, 1524 $20s; Ty-II, 1135 $10s, 140 $20s (illustration courtesy of Allen and Penny Mincho) The First National Bank of Crosby, North Dakota, charter 10596 was granted after its establishment with a capital of $25,000 in late April of 1914. The bank was placed in receiver- ship on November 1, 1932. The bank issued one denomination in small-size nationals: 9462 Ty-I, $5s. Crosby has a population of around 1500 and is located in the extreme northern part of the state, seven miles south of the Canadian border. (illustration courtesy of Allen & Penny Mincho) ELUSIVE $100 CALIFORNIA NOTE SURFACES Paper Money Whole No. 122 SAC INDIAN CHIEF APPANOOSE INVITED TO THE WHITE HOUSE The Centerville National Bank of Centerville, Appanoose County, Iowa was granted charter 2841 in 1882 when it suc- ceeded The Appanoose County Bank. Noteworthy was the in- vitation tendered to the respected leader of the Sac Indian Tribe, Chief Appanoose, by President Martin Van Buren in 1837 to visit Washington to discuss a proposed Treaty between two war- ring Indian Nations. The Sac and Fox tribes had become in- volved in an Indian uprising with the Sioux and the Winnebago tribes. The clash was due to the Sioux taking over tracts of land originally settled by the Sac tribe. Type-I $50 notes issued: 516. (illustration courtesy of Thomas M. Denly) SCARCE IOWA CHARTER SURFACES The First National Bank of Conrad. Iowa, charter 9447 was established on April 24, 1909 with a capital of $25,000. It li- quidated voluntarily on November 5, 1931 and was later absorbed by the Iowa State Bank of Conrad. The latest popula- tion figure stands at 1133, an increase of 200 during the past 20 years! The Northern California National Bank of Redding, Tehema County was granted charter 10100 after the bank had been established in November of 1911 with a capital of $100,000. Forty-four 6-subject panes were employed to complete the bank's order for 264 $100 notes. In December of 1934 the bank voluntarily liquidated and was absorbed by the Anglo California National Bank of San Francisco, charter 9174. (illustration courtesy of Charles G. Colver) The Peoples National Bank of McMinnville, of Warren County Tennessee was granted charter 2593 in November of 1881. It was capitalized at $25,000. The officers were; J.N. Walling, president and C.N. Potter, cashier. The issue of T-I $10s amounted to 5280 notes. The bank was placed in voluntary li- quidation on October 17th, 1931. (illustration courtesy of Samuel H. Bettis) States Banks Territories Remaining Unreported Notes by Charter District Unreported Number of Issuing Bank. Ohio 6 6943, 7639, 9274. 9799, 10436. 11216 Oklahoma 16 5811, 6517, 6641, 7209, 8472, 8616, 8859, 9046, 9709, 9881, 9964, 9970, 10205. 10380, 11397, 14108. Oregon 10 3774, 5822, 8941, 9281, 10164, 10619, 10992, 11106, 13294, 14001. Pennsylvania 31 522, 2562, 4092, 4222, 5920, 5974, 6281, 6603, 6695. 6709, 6878, 7400, 8092, 8960, 9123, 9513, 9554, 9996, 11892, 11966, 12063, 13868, 13871, 13908, 13999, 14049, 14112, 14121, 14169, 14181, 14182. Rhode Island - Notes from all banks reported. South Carolina 8 5064, 6385, 9296, 9876, 10129, 10263, 10586, 11499. South Dakota 7 2068, 6561, 8698, 8776, 11457, 11590, 11689. Tennessee 4 10181, 10192, 10449, 12319. Texas 55 2729, 3261, 3644, 3973, 4289, 4368, 4438, 5109, 5475, 5759, 6361, 6375, 6400, 6461, 6551, 6780, 6896, 6968, 7106, 7378, 7524, 7572, 7775, 8200, 8204, 8249, 8522, 8690, 8770, 8816, 8817, 9053, 9625, 9810, 9812, 9989, 10241, 10323, 10403, 10472, 10657, 10703, 11163, 12741, 12919, 13555, 13562, 13661, 13667, 13669, 13984, 14027, 14072, 14126, 14302. Utah Notes from all banks reported. Vermont 3 7614, 13261, 13800. Virginia 10 7208, 7782, 8003, 9890, 10611, 10658, 11533, 11978, 12267, 13878. Washington 7 3862, 8639, 9576, 10407, 11416, 13057, 14166. West Virginia 15 6170, 7264, 7672, 8333, 8360, 8434. 8998, 9048, 9523, 10392, 10759, 11268, 11502. 13505, 13783. Wisconsin 2 11083, 14095. Wyoming Notes from all banks reported. Recapitulation: Charters remaining to surface and be recorded - 392 "AMIGO:MIR= Tit 0000166A 14113.11 RONCEVERTE arr.' Vikiali■A *14.1"01;:i7;;;Gfa D000166A 0,9cffi Ronceverte National Bank of Ronceverte, Greenbrier County, West Virginia was granted charter 6226 on April 23, 1902 hav- ing been established with a capital of $25,000. The initial bank officers were: W. E. Nelson president and A.B.C. Bray cashier. The bank issued 2763 T-1 $20 notes. Paper Money Whole No. 122 Page 55 CHARTER BANKS WHO ISSUED THE 1929-1935 NATIONAL BANK CURRENCY WHOSE NOTES REMAIN UNREPORTED Banks Remaining Unreported Notes by Charter Unreported Number of Issuing Bank. 10 7451, 7687, 7991, 7992, 8028, 9055, 9927, 10102, 10307. 11259. Notes from all banks reported Notes from all banks reported 9633, 10459, 11196, 12238, 12296. 8063, 10184, 10301, 10309, 11041, 11330, 11433, 11566, 11867, 12271, 12328, 12454, 12624, 14202. 5 5976, 6454, 6772, 7501, 7704. 1 3914. Notes from all banks reported. 1 10316. 1 7757. 4 8314, 10333, 11290, 12404. Notes from 3 bank titles reported. 1 7526. 15 385, 903, 1428, 1837, 1870, 3579, 4967, 5149, 5285, 10045, 10132, 11333, 13673, 13709, 13993. 17 2747, 3338, 4685, 4688, 5476, 5558, 6354, 6765, 7354, 7491, 8351, 8804, 8912, 10616, 12028, 12780, 14075. 10 2961, 4795, 5585, 6852, 7357, 8057, 8099, 9549, 9821, 14309. 3 3134, 8974, 9136. 8 2576, 4819, 7254, 11890, 12202, 13906, 14026, 14076. 3 10544, 11521, 14225. 3 1956, 7835, 13843. 9 1236, 3205, 4364, 6202, 8799, 8860, 8867, 12443, 13798. 6 684, 1386, 2288, 2312, 4448, 14266. 7 9509, 10631, 12084, 12661, 12793, 13929, 14144. 7 3155, 6366, 6519, 6584, 6795, 6933, 10507. Notes from all banks reported 3 6343, 6885, 8916. 2 10715, 10939. 4 5337, 7622. 8797, 9665. Notes from all banks reported. 1 13861. 19 2083, 4274, 5403, 5730, 6179, 7364, 8501, 8661, 8681, 8829, 9061, 9661, 10036, 10430, 12829, 12903, 14088, 14153, 14305. Notes from all banks reported. 38 266, 295, 296, 2463, 2869, 3171, 3193, 3333, 4416, 4998, 5746, 5936, 6087, 7233, 7483, 7763, 7840, 8334, 8343, 8388, 8717, 8793, 8872, 10374, 10930, 11518, 11739, 11956, 12018, 12294, 12398, 13089, 13229, 13246, 13365, 13909, 13911, 13945. 1 9044. 20 6210, 6218, 6397, 6474, 6475, 6557, 6601, 6743, 7569, 7872, 7879, 8881, 9386, 9684, 10721, 10864, 11069, 11184, 11226, 13501. States Territories District Alabama Colorado Connecticut Delaware District Columbia Florida Georgia Hawaii (Terr.) Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Alaska (Terr.) Arizona - Arkansas 5 California 14 aravrionwr.cirsasuomotrst THE FARMERS NATIONAL BANK Of BEAVER KANSAS orivTon. f.t/0104 ori FMK' IMMLUIS A002261 11177 ISSINATIONAL UNA RAT TTO ST ENFANT Of PARIS TEN IS011.LkitS B000685A 1111KOPMEKILOPWELARIAgIVIKOIKIP.S1 THE FIRST 4:" NATIONAL SANK OF ILORAIA ALABAMA 0000010A O oA 0000010A THE FIRST D000029A NATIONAL BANK Of cy VINCENNES INDIANA TWENTYPOLL11114 0000029A il mstr.ile olttimmu fak :27 0 Page 56 Around the year 1800 the French settled the area. Agricul- ture, mining and lumber were the chief sources of income. Ron- ceverte in French translates into green brier whose prickly climb- ing plant growth flourished along the banks of the river later named the Greenbrier. (illustration courtesy of Allen Karns) The Farmers National Bank of Beaver, Kansas, charter 11177 was chartered in April of 1918 after it had been capitalized at $25,000; 2520 Ty-II $5 notes were issued. With the surfacing of this charter only three charters remain to be reported from the state of Kansas; they are 3134, The First National Bank of Pea- body which issued only 174 Type-I $50s and a mere 6 $100s; 8974, The First National Bank of Wetmore issued Ty-I $10s and $20s; and 9136, The First National Bank of Highland issued a meager amount of Ty-I notes, 786 $10s and 84 $20s. (illustration courtesy of C. Dale Lyon) The First National Bank and Trust Company of Paris, Illinois, was granted charter 3376 in the summer of 1885 when it was capitalized at $108,000. Later it took over charter 1555, The First National Bank of Paris on August 12, 1885. The first of- ficers were: Asa A. Baber, president and R.C. Sutherland, cashier. The bank title was changed to The First National Bank and Trust Company in July 1928. The bank liquidated on March 27, 1931 and was absorbed by charter 2100 The Edgar County National Bank and charter 6451 The Citizens National Bank; 6048 Ty-I $10s were issued. (illustration courtesy of Allen Karns) EXCEEDINGLY RARE CHARTER SURFACES FROM THE STATE OF ALABAMA Paper Money Whole No. 122 The First National Bank of Florala, Alabama, charter 8910 was established September 1908 with a capital of $50,000. In January of 1930 it was placed in receivership due to misman- agement; 300 Ty-I $20 notes were issued! (illustration courtesy of Samuel H. Bettis) OMITTED CHARTER SURFACES TO BE RECORDED The First National Bank of Vincennes, Indiana was granted charter 1873 on July 15, 1871; it was established with a capital of $100,000. The first officers were Joseph L. Bayard, presi- dent and F.M. O'Donnell, cashier. A total of 264,048 of various denominations of First, Second and Third Charter notes were issued while issuing only 2614 Ty-I small-size $5s, $10s and $20s; the issue of the $20 notes are scarce with a scant total of only 252 issued. With the surfacing of this note there will be added stimulus to and delight for Indiana collectors. Charter 1873 did not appear under the listing of Indiana banks in the SoPMC publication of 1970 titled The National Bank Note Issues of 1929-1930. However in the second prin- ting of the aforesaid publication, appearing on page 114, charter 1873 was acknowledged along with other revisions. Page 114 is reproduced on the following page so members not having the changes can revise their records. (illustration courtesy of Thomas M. Denly) COLLABORATORS Sam H. Bettis C. Dale Lyon Charles G. Colver Ken McDannel Charles A. Dean Maurice M. Melamed Thomas M. Denly Allen Mincho John T. Hickman Penny Mincho Al. Hurry Dean Oakes Curtis Iveren Alex Perakis Allen Karns Gary W. Potter David Koble Ed. Richt Frank Levitan Milton M. Sloan Art Leister PUBLICATIONS CONSULTED Standard Catalog of National Bank Notes, by John Hickman and Dean Oakes. National Bank Note Issues of 1929-1935, published by SPMC, 1970. M. Owen Warns, Peter W. Huntoon, and Louis Van Belkum. The Bankers Register, Kountze Brothers, New York City, N.Y. Paper Money Whole No. 122 Page 57 CHAPTER 5 by Louis Van Belkum 1929 NATIONAL BANK NOTES ISSUED (p. 114, second printing) The data on this page, which have come to light since the first printing, revise the extensive listings in this chapter. More .. . Types of PapeC by JOHN W. MERCER Page State Charter Correction to Listing 116 Alabama 13789 denomination issued was 10; not 20. 117 California 2104 city is Santa Barbara instead of Sacramento. 120 Colorado 7408 denominations issued were 5, 10, 20. 122 Florida 13968 5, omitted from original listing. 124 Illinois 819 denominations issued were 5, 50, 100; not 5, 10, 20. 124 Illinois 1428 denomination issued was 20; not 10, 20. 124 Illinois 1816 denominations issued were 5, 10, 20, 50, 100. 126 Illinois 7076 charter number is wrong; it should be 7077. 126 Illinois 8015 denominations issued were 5, 10, 20. 128 Illinois 13605 denominations issued were 5, 10, 20, 100. • 129 Indiana 1873 5, 10, 20, omitted from origi- nal listing. 130 Indiana 7601 denominations issued were 5, 10, 20. 130 Indiana 8014 denominatons issued were 5, 10, 20. 131 Iowa 2511 city is Cedar Rapids instead of Cedar Falls, 135 Kansas 12935 denominations issued were 5, 10, 20. 136 Kentucky 6100 denominations issued were 5, 10, 20. 149 Nebraska 13435 denominations issued were 10, 20, 50; not 5, 10, 20. 169 Pennsylvania 2899 denominations issued were 5, 10, 20. 172 Pennsylvania 7395 denominations issued were 5, 50, 100; not 5. 176 Pennsylvania 13781 denomination issued was 10; not 20. 178 Tennessee 2049 denominations issued were 10, 20; not 5, 10, 20. 182 Texas 8134 denominations issued were 5, 10, 20. 187 Washington 9372 denomination issued was 10; not 10, 20. 191 Wisconsin 14125 denominations issued were 10, 20; not 5, 10. *A $20 Type-1 was reported in this issue of PAPER MONEY. ■ The text of Mr. Mercer's talk was referred to in PAPER MONEY No. 121, p. 32. N my presentation at Cherry Hill, there were two closing points in the written text, which I unintentionally omitted, that I think bear mentioning. First, currency is a commodi- ty, not an icon. The form of it has varied widely over the years, depending on policy changes, economic forces, contemporary design considerations, security concerns, production con- straints, and material availability. History does not preclude a currency of different material or design, if this change provides an improvement in use by the public, and is acceptable to them. The extra form of the currency we know today should not be sacred for its own self, as along as the integrity of the dollar is upheld. The second point is that the security of the dollar is [primarily] in the paper. Anything printed on it can be simulated by a skilled counterfeiter, and the simulation only has to be good enough to fool one person, one time, at which point the counterfeiter has his money and is gone, leaving the duped victim a souvenir of his handiwork. If the security is in the paper, it's in for good. While preparing my remarks, it occurred to me that it is likely that many paper variations exist within note issue types that would be very easy to distinguish by examination of the distinc- tive fibers. As an extreme example, a note issued in 1885 would be on paper with two horizontal continuous silk threads, along with distributed red and blue silk fibers. The same note on 1886 paper would have no distributed fibers, and only one contin- uous horizontal thread. Paper of 1887 may have two contin- uous threads vertically on either side of the portrait, as well as distributed red and blue fibers. The early Crane paper (1879-1891, except for 1886) may have had two threads of the same color (both red or both blue), or may have had the threads in opposite order (red on top, blue on bottom, or vice versa). Also, the 1886 paper may have had a single red, rather than blue thread. Other possibilities that come readily to mind for BEP printed notes would be Second Issue fractional currency on spider leg, or plain or on any watermarked paper, and the Willcox blue jute bank paper (1869-1879) could be printed with the blue band on the left or right side of the note, depending on which side of the paper the face was printed. In the table of fiber contents of U.S. currency from my talk, a number of different linen/cotton blends were indicated. Au- thentication of issues printed on paper with different ratios of linen to cotton would require sacrifice of a portion of a note for fiber analysis. Anathema! By contrast, close examination of the type and pattern of the distinctive threads and fibers is non-destructive, fairly rapid, and would appear to offer a potential goldmine of note varieties. This could even lead to varieties based on distinctive fiber type, as well as the design elements now used. (Continued on p. 65) Page 58 Paper Money Whole No. 122 eqh e deA e%ueCr4, e '4 /1/ 11 tY?. t 241 by BRENT H. HUGHES, SPMC 7 © 1985 T is no secret that in the final few days of the Confederacy, during the desperate flight from Richmond, one Micajah H Clark was appointed Acting Treasurer of the Confeder- ate Treasury by President Davis. After the war various scholars tried to reconstruct the final events and lay to rest the persistent rumors about a fabulous Confederate "Treasure Train", or millions of dollars buried somewhere along the escape route. But Micajah Clark was not heard from. He kept quiet for a good and substantial reason—he feared being arrested by Fed- eral detectives. His good judgment allowed him to escape cap- ture in the post-war hysteria and return home to Virginia with many of his financial records intact. As the years passed he must have felt more secure, for he finally broke his silence in January, 1882 in a long letter to a newspaper. The editor of the Southern Historical Society Papers magazine reprinted Clark's letter in his issue dated Octo- ber-November-December, 1881 but which was not mailed to subscribers until about February, 1882. The author recently had the good fortune to find a copy of this rare magazine. Of those final days Clark said, "Federal detectives were swarming along the route we had travelled, hunting papers, the Treasury and the last man who had it in charge, for an 'immense amount must have been secreted somewhere; $5,000,000 to $15,000,000 could not vanish in the air in a day'." In the years from 1865 to about 1880 there must have been hundreds of people searching for the treasure and the tales became so irritat- ing to Clark that, as he said, he "decided to write the plain un- varnished truth of the last days" for the public to read. It is in- deed an interesting story because Clark's meticulous records ac- count for almost all of the money. It is clear that the only possi- ble treasure that could be buried in Georgia was the $86,000 in gold that President Davis had ordered Clark to turn over to some naval officers to transfer to Europe. There were stories that the gold was buried near the little town of Washington, Georgia, or that the two officers managed to reach the coast at Savannah or Charleston, SC. Exactly what happened to the gold seems to be a mystery. Clark begins his long account by identifying himself as origi- nally the "chief and confidential clerk of the Executive office at Richmond". He says that a month before the evacuation of Richmond, the Treasury Department opened its depositories and sold silver coins to the public at the rate of $60 in currency for $1 in coins. This was necessary "for the relief of the people, to furnish them (coins) to buy supplies outside of our lines, and also to call in currency to pay off the troops." This is a remark- able statement, for it indicates that the civilian population bought silver coins with paper money, which was in turn used to pay the troops defending Richmond. It is hard to imagine what the weary soldiers were supposed to do with such paper. On evacuation night, everything was loaded on railroad cars that left immediately, arriving at Danville, Virginia the next day. The Treasury Department paused there and began selling silver coins to the public again, the rate now being fixed at $70 to $1. According to Clark, when the train left Danville, the Treasury possessed in gold and silver, both coin and bullion, a total of $327,022.90. After $39,000 was paid out to the military at Greensboro, NC, the remainder of $288,022.90 was turned over to Clark. From this point on he kept track of all disburse- ments and incredibly still had the original receipts in 1881. He mentions the $230,000 that belonged to Richmond bankers, which was kept separate, but since it was not a Treasury asset he showed no interest in it. Mr. Clark was first, last and always a professional accountant and kept his mind on his work at all times. After a hectic trip the Treasury vehicles arrived at Washing- ton, Georgia, its final destination. It was here that an important event took place that can best be described in Clark's own words. While at Washington, Ga., communications were re- ceived from General John C. Breckinridge that pay- ments had been promised to the cavalry from the train by him at a halt on the road the night of the 3d. The action of General Breckinridge in the premises was ratified, and President Davis gave some other direc- tions before he left. General Breckinridge arrived in Washington, Ga., an hour or so after President Davis left, and my recollection of his statement was in brief as follows: That during the night of the 3d, en route from Abbeville, S.C. to Washington, Ga., he found the cavalry and train at a halt, resting. Stopping, he learned from the officers that the men were dissatisfied at the position of affairs; that they were guarding a train which could not be carried safely much farther; the Federal cavalry were known to be in full force not a great distance off; the destination and disposition of their own force was an uncertain one; their paper money was worthless for their needs; that they might never reach Washington, Ga. with it, etc. A crowd gathered around, when General Breckinridge made a little speech, appealing to their honor as Confederate soldiers not to violate the trust reposed in them, but to remain Southern soldiers and gentlemen: and that Paper Money Whole No. 122 when they reached Washington with the train, fair payments should be made to them from it. The men responded frankly and openly, saying they proposed to violate no trust; they were there to guard the train from all, and would guard it, but expressed as above what they considered due them in the matter, and, as they would be paid some money in Washington, Ga., and no one could tell what would happen before they reached there, they could give no good reason for delay. General Breckinridge replied that, if they wished an instant compliance with his promise, he would redeem it at once, and ordered up the train to the house at which he had stopped, and had the wagons unload- ed; the quartermasters being ordered to make out their payrolls, when a certain amount was counted out and turned over to the proper officers. The wagons were then reloaded, and after the rest, the route was taken up, reaching Washington, Ga., next morning, where the quartermasters paid off from their rolls. The boys told me they got about $26 apiece; enough, they hoped, to take them through. It is this transaction which has produced so many contradictory statements from men and officers, many seeing nothing more, and regarding it as the final disbursing of the Con- federate specie. Proper receipts were given and taken at the time, and I rated it as if disbursed by myself, and covered it into the Treasury accounts by the paper of which below is a copy: The total amount came to $108,322.90. Clark then quotes the various vouchers and receipts to cover this outlay, and makes a statement that causes today's collectors to weep. "My own transportation having gone forward, General Breckinridge kindly gave me his own ambulance, team and driver, which I used in driving back and forth from town to Duke's camp as my duties called me. I obtained permission from General Breckinridge and Mr. Reagan to burn a mass of curren- cy and bonds, and burnt millions in their presence." (emphasis added). Clark then lists page after page of receipts for various dis- bursements. It is apparent that soldiers from many places were coming into Washington, Georgia for new orders and President Davis had directed that each was to receive a month's pay. Clark's receipts show amounts from a low of $18 to a high of $5,000, which progressively reduced his funds to a total of $163,402. On May 4, 1865, Clark turned over twenty boxes of silver bullion worth $40,000 to the Quartermaster-General and the Commissary-General of Subsistance. President Davis ordered this outlay "to feed the paroled soldiers and stragglers who were passing through, to prevent their being a burden to a section al- ready well stripped of supplies." This reduced Clark's funds to $123,402. Shortly thereafter Clark turned over to naval officers the aforementioned $86,000 in gold coin and bullion for transfer to Europe, which reduced his holdings to $37,402. Military scouts now told Clark that Federal General Wilson was very close and capture was imminent. It was decided that all personnel would leave Washington and travel south to a point near Sandersville, GA. Clark knew that his slower-moving wagons were sure to be captured so he called in the staff officers, Col. John Taylor Wood, Col. William Preston Johnston, Col. F. R. Lubbock and Col. C. E. Thorburn, and convinced each of them to accept $1,500 in gold to aid in their escape. He also gave each man Page 59 $10 in silver coins. He then issued to Captain Given Campbell and his men a total of $300 in gold. It seems apparent that Clark was doing his best to disburse his remaining funds to those who deserved it most. He now had $31,062 on hand. Clark resumes his account: I then went to Judge Reagan (acting Secretary of the Treasury) with a bag containing $3,500 in gold, and asked him to take it in his saddlebags as an addi- tional fund in case of accidents or separation. He resisted, saying that he was already weighted by some $2,000 of his own personal funds, which he had brought out from Richmond, Va., in a belt around his person, but after some argument on my part he al- lowed me to put it in his saddlebags. The party then were already on horse, and Good-bye was said. The President's party was captured a few days afterward, and upon their release from prison several of the party told me that every one was robbed of all they had, ex- cept Colonel F. R. Lubbock, who, after stout resist- ance and great risk, retained his money, upon which the party subsisted during their long imprisonment at Fort Delaware. No gold was found on President Davis when captured, for he had none. He could only have received it through me, and I paid him none. After adding up the various receipts quoted in the article, we find only $27,562 not specifically accounted for. We must assume that after President Davis and Secretary Reagan departed Clark was on his own and disbursed whatever funds remained on his own authority. Certainly he was entitled to his own salary and must have spent some funds to support the men with whom he traveled as they fled south to Florida. As things settled down he quietly joined the ranks of the men who were scattering in all directions. "I met them on my return from Florida in June, plodding their weary way back to their homes," Clark said. "I traveled with some all the way to Virginia." He remained an unreconstructed rebel. He ends his long nar- rative with the following statement: "You have before you a plain, unvarnished statement of the last days; the personal pro- noun has been used more than I could have wished but it was unavoidable . . . the old Confederates brought nothing out of the war, save honor; for God's sake and the precious memory of the dead, let us preserve that untarnished, and defend it from slanderous insinuations. To do my part, I have spoken." His narrative is signed "NI. H. Clark, Ex-Captain P.A.C.S., and ex-Acting Treasurer C.S.A., Clarksville, Tennessee, Janu- ary 10th, 1882." To paper money collectors the Clark report is significant. He was telling the truth since he had no reason to do otherwise. The war was long over, the Federal government was busy with other things and Clark was secure in Tennessee. The report tells us that the Confederate Treasury Department began redeeming currency in March of 1865 at about $60 in currency for $1 in coins. It must have taken in an enormous amount of paper money at Richmond before the evacuation. It took in more at Danville, Virginia. We know that currency was still being printed in Richmond late in the war and stored at the Treasury. So alto- gether there could easily have been fifteen million dollars face value in paper money on the so-called Treasure Train. Thus the legend was born at that time. But Clark did not list the paper money in his accounts, appar- ently because he considered it worthless. To Clark "money" meant gold and silver and he kept meticulous records of the coin. He must have known that the paper money and bonds (Continued on p. 65) Paper Money Whole No. 122Page 60 athin, the BAght Mohawk Valley:5A The Legacy of the National Mohawk Valley Bank by DAVID RAY ARNOLD, JR. E VERYONE knows Red River Valley , that loping lilt of the old West. Not everyone knows that the song didn't lope out of the West, but rather into it. The tune was born in Tin Pan Alley as In the Bright Mohawk Valley. Then it simply went west, and on the trail underwent a metamorphosis into the familiar cowboy plaint.' The old song pleads against too hasty an adieu. For a while then, let's pause and gaze back. One seldom sees the name Mohawk Valley unaccompanied by an adjective or two. Like its past, the valley is now beautiful, now brooding: first picturesque and lovely, then darkly historic—the bloody Mohawk. The rich history of the place belongs to all America, but to the numismatist was left a special syngraphic inheritance. We shall better understand that bequest after our brief look backward to a place, a bank, and a man. The Place T HE Mohawk River is the main tributary of the Hudson River. The valley, in northeast central New York, was originally settled by religiously-persecuted Palatines. Waves of Germans had fled the devastation left by the retreating French in the Palatinate in 1689. Throughout colonial times, the Mohawk Valley was the prin- cipal route from the eastern colonies to the Great Lakes. The great corridor" was not entirely peaceful. The British domi- nated, but the mixture of nationalities stirred antagonisms. In- dian unrest was constant. Where to place their loyalties was a question to the Indians, but in time they thought their interests to be best served by the British. The British use of diplomacy proved wise. Violence abounded during the French and Indian War (1754- 1763); the valley was ravaged. The Americans fought with the British, who also had Indian allies. The Indians, however, were not totally united. Even with the league of the Six Nations there was disagreement among the tribes. By 1758 events favored the British, and following the British- American victory in 1763 the French left North America. The Mohawk Valley in 1775 was well settled by English, Dutch, German and other strains; but that year brought a vio- lence more widespread than any before. The American Revolu- tion had begun, and again the Indians sided with the British. Settlers were always in fear of Indian attacks. The raids were merciless; the object: the utter destruction of men, women, children and property. The Revolution ended in 1781, but sporadic incursions continued. Names from that troubled time are still with us. Some, of course, are actual places—the forts along the Mohawk: John- son, Frey, Plain, Hendrick, Klock, Herkimer.' Hendrick, Joseph Brant and Red Jacket were Indian chief- tains, despite their English names. Brant and Hendrick were Mohawks; Red Jacket was a Seneca. Their three lives did not completely overlap, but their influences were interwined. Each was truly a "man of two worlds," as Kelsay described Brant. Hendrick, who joined the Americans in the French and In- dian War, was killed at the Battle of Lake George on September 8, 1775. Joseph Brant lived until 1807, at the last mellowed and introspective: a sad, noble figure. Nevertheless, his depre- dations, including the terrible Cherry Valley massacre in 1778, stand in history. The accounts of his inward struggle, to see atrocities inflicted upon those among whom he had lived, are gripping, but unpleasant reading. Red Jacket, among others, represented the Six Nations in 1784 for the Treaty of Fort Stanwix. He was again an emmis- sary in 1792 at Philadelphia, the capital at that time. Red Jacket' died in Seneca Village on January 30, 1830. He is cur- iously linked to numismatics, for as an historic symbol he was the subject of a vignette for bank notes. Slowly the hills and flats came into times more peaceful, to enterprises more optimistic. Regional differences, too, began to blur. It was brighter now in the Valley. The Bank Fractional note of L.L. Lowell, payable, through the Mo- hawk bank. New York had generally better controlled its paper money than had the other colonies, and the State persistently took the initiative in banking reforms. The Mohawk Valley Bank, of the village of Mohawk, New York, was organized on February 9, 1839. The first president of the bank was Ebenezer Morgan, to whom the property on which the building was erected was deeded August 10, 1839 by Fred- erick Belliuger. Other officers at the start were Elias Root, vice- Paper Money Whole No. 122 president, and J.C. Dann, cashier. The bank was to provide continuous services for almost 93 years. Cashier Dann resigned in July of 1839, and every serious col- lector of 19th century United States currency will recognize the name of his successor—Francis E. Spinner. Spinner served the bank in some capacity —cashier, director, president—until 1856, and it appears that he retained an interest beyond that date. The association of the Spinner name gives the bank a much greater numismatic significance than it might otherwise have. Since we are no less interested in Spinner himself, this is a good point at which to look at him more closely. The Man He's big on Collectors' Campus: watchdog of the Treasury, father of fractional currency, signatory of early paper money, and giver unaware of autographs to generations he never knew. He was all of these, but this uncommon man has earned a broader view. Autographed note from the third issue of fractional currency, depicting General Spinner as he will perhaps best be remembered by collectors. There is no wealth of biographical material about Spinner. Some of the largest encyclopedias do not so much as list him; his fame did not reach that far. Yet his death was widely noted, and The New York Times accorded him an unusually long obit- uary. The Dictionary of American Biography (American Coun- cil of Learned Societies) gives a good summary. A few impres- sions by his contemporaries have been left. Francis Elias Spinner was born on January 21, 1802, in Ger- man Flats, Herkimer County, New York. German Flats later became the village of Mohawk. Spinner's father had emigrated to America in 1801 to pastor the Reform Dutch Church in Ger- man Flats. The father secured a good education for his son, who early became a confectioner's apprentice. Spinner was to declare in later years that he attended four Mohawk Valley Dis- trict schools and "learned nothing in any of them." When 22, Spinner became a merchant in nearby Herkimer. He was destined to attract attention. Not surprisingly, he was elected Sheriff of Herkimer County in 1834, and held the office for three years. That year also brought an enviable embellishment to Spinner's name. He had been active in the organization of the 26th Regiment of the New York State Artillery, in which he was made a lieutenant soon after arriving in Herkimer. Now, he was promoted to Major General of the Third Division of Artillery. A noted military company known as the Lafayette Guards was a memorial to his efforts. General Spinner's political activity was not unnoticed by the influential. In 1838, Governor Marcy appointed him supervisor of the building of the state hospital for the insane, in Utica. Dur- ing the Polk administration (1845-1849) he was Deputy Naval Officer and auditor of the Port of New York. Page 61 Nine years later General Spinner was a member of Congress, elected from the Herkimer district. He helped organize the new Republican party and remained a constant adherent thereafter. He was reelected twice. In Congress he was on the committee dealing with the Brooks-Sumner assault affair. The Signature The Spinner signature was probably the best known in the country. The New York Times called it unique, and in an im- mediate burst of enthusiastic redundancy, declared that "there never was anything like it." Perhaps the most pertinent descrip- tion would be: "The despair of would-be forgers." Apprehen- sive of forgery, Spinner had worked on it for many years. In his own view, it was brought to its highest perfection while he was Treasurer of the United States. Spinner's signature differed from his handwriting. He used a special pen for the broad strokes. It is said that he used ink so thick that the name seemed to rise from the paper. In time, the evaporation of vehicle and binder would somewhat reduce the bulk of the remaining pigment. After his third term, Spinner applied to Lincoln for a naval berth, but was told to be patient. The reason became clear on March 16, 1861, for he was appointed Treasurer of the United States. He held that position under successive administrations until June 30, 1875. Differences had been aired over the authority for appointing clerks. When there was no satisfactory resolution, Spinner re- signed and retired to Jacksonville, Florida. He had served as Treasurer for 14 years, under three presidents. 4 At the age of 80 Spinner undertook the study of Greek—as a hobby! After long suffering with facial cancer, and now blind, he died on the last day of the year 1890. On the threshold of a dec- ade to bring changes beyond his imagination, Francis Elias Spin- ner was at rest. L.E. Chittenden was Register of the Treasury from April 17, 1861 to August 10, 1864. With Spinner, he was a signer of ear- ly bank note issues. In his Personal Reminiscences there is an earnest testimonial, from which the following is quoted: One of the best men in the civil service of the United States was the Treasurer, Francis E. Spinner. He was not a many-sided [Chittenden's italics] man. He had only one, his loyal side, which was so thick that it went clear through him. He was free and outspoken in his opinions. He sometimes used adjectives which were more emphatic and appropriate than they were select. I never regarded his expressions as at all profane. This grand old man, Treasurer Spinner, died about two years ago. He was a long and patient sufferer from a painful disease which destroyed his eyesight long be- fore his death. One of the choicest memorabilia in my possession is what I believe to be the last letter written by his own honest hand. Back to the Bank According to Dr. John A. Muscalus, of the Historical Paper Money Research Institute, non-federal obsolete notes of the Mo- hawk Bank exist in denominations of $1, $2, $3, $5, $10, $50 and $100. A specimen in Dr. Muscalus's possession did not bear a Spinner signature, however. The William P. Donlon sale of November 26, 1975 included a fine group of Spinner mate- rial, among which were references to note issues. For example, in a letter from New York dated December 25, 1846, Spinner informed R.E. Pomeroy in Mohawk that he had just signed "cir- Page 62 Paper Money Whole No. 122 A $1 note from the original series—One wonders about Spin- ner's thoughts upon seeing his signature, now engraved, on the new currency of the bank for which he had so often signed. culating notes as follows." Notes amounting to $7200 were then listed. I have not seen this correspondence, thus I am unable to evaluate it in context. Exchange was important to the business of the bank. A draft signed by Spinner is among the accompanying illustrations. In a little over one year, 1,361 drafts were drawn on this form. The years passed; The Valley accommodated new activity, and the country bank flourished. The National Bank Acts was adopted on February 25, 1863. The Mohawk institution became a national bank on April 3, 1865, under charter number 1130. Capitalization was at $150,000. The bank promptly exercised the privilege of issue, including one dollar notes of the original series. Printing of that denomination reached 23,004. The concept that substantial numbers of small denominations would so fractionize the circulating total as to delay full re- demption was widely ignored under state systems. The new law, too, authorized $1 and $2 notes, the maximum amount not to exceed $25,000 for any national bank. A $1 example, signed by D.H. Pomeroy as bank president, is illustrated. No national bank issued $1 notes after June, 1879. A coun- terfeit detector of 1931 reported only one imitation of that de- nomination to be known.' The bank weathered the war years, its circulation successfully maintained. Denominations through $100 were printed for Mo- hawk in the original series, but did not exceed $20 thereafter. A second story was added, and other changes were made to the building in 1891. The actual plans for the alterations have not been found. The pride of a community in its only bank shines in this excerpt from a local release of 1902: The bank was originally founded in 1839 under the state laws. The existing building, which is modern and convenient in every respect, was erected in 1891 at an outlay of $10,000. The existence of this monetary concern on a sound commercial basis after a career of 63 years, is the most forcible proof that can be given as to its solidity. The President, James B. Rafter, is one of the leading lawyers of Herkimer County. He established his offices in Mohawk in 1871. The vice-president, R.M. Deven- dorf, is the leading dry goods merchant. To H.M. Gold- en, the cashier, falls the burden of work, and his success is signal. An inevitable reference to Spinner's "famous signature" con- cluded the item. Artist's rendering The Mohawk Valley Bank, about 1889, before changes to the building. (Collection of the author) Paper Money Whole No. 122 Page 63 Bank Draft of the Mohawk Valley Bank A Spinner Autograph Portrayed at the left is Seneca Chief Red Jacket (c. 1758-1830). The portrait is from the painting by Robert Walter Weir (1803-1889), known for his "Embarkation of the Pilgrims." Note the tomahawk held as a scepter, the symbol of power. Red Jacket received his English name because of the red coat given him by the British during the Revolution. He was known as a persuasive orator. Nevertheless, he frequently clashed with the great Joseph Brant, as did their respective nations, the Seneca and the Mohawk. Chief Red Jacket later cooperated with the United States, and George Washington himself honored him with a medal. He grew increasingly abrasive, wanting all whites—particularly missionaries—to vacate Indian land. He did, however, support the United States in the War of 1812. Red Jacket is buried in Forest Lawn Cemetery in Buffalo, NY. Chittenden writes in his personal reminiscences: "In the 'fifties' [1850s] the profits of a country bank were made upon the sale of drafts upon the cities for a premium." The Later Years Liabilities Currency printed for the bank had reached $1,664,270 by mid-1929. There was to be an additional $180,540 in the new smaller notes. Below is the bank's statement for March, 1930, showing a circulation liability of $100,000. Statement The National Mohawk Valley Bank March, 1930 Resources Loans and Discounts $ 750,000 U.S. Bonds 107,000 Other Bonds and Securities 639,000 Cash and Exchange 139,000 Other Resources 39,000 Total Assets $1,674,000 Capital $ 100.000 Surplus 50,000 Undivided Profits 11,000 Circulation 100,000 Deposits 1,283,000 Other Liabilities 130,000 Total Liabilities $1,674,000 At the time of this statement, F.W. Cristman was president, Jay Brackett was vice-president, and Charles P. Wood was cashier. The correspondent bank was Chase National Bank, New York City. The statement appears confident, but disaster was ap- proaching. Depression was deep: loans were turning bad. By July, deposits had declined by over seven percent. On the final statement in 1931, deposits had fallen to $900,000—a loss of nearly 30 percent compared to the March, 1930 figure. E000001A T1 CliabOfFNIGIE: ‘11 tlift full s AWE, 1,1741■4 . MAU 001A IhE meYlwf Mat BAMI C \1011 \ WK MEW YORK C000jOiA 00 0 00 0 1 A - WSW: ANDOCALOIMILF. „ tftromMieHIDAtmlfm ntomiimx 14.10,VNEEKtt • TeE 441101141 ChM VALLEt BANK ft MOH IWK MEW YORK FIVE 114/LLAKS 0000001A xls. ret3N475i; 111 NATIOCK MONACA Min BM IF NIOCIAWK Nt.14 VI74111. Ko,K E000001A APICICIERID111,11LACalkletffii" °max urn THE NA110101 NV VAttEt 11101t OF It)! 1 WK NEW YORK 0001A Page 64 The New York Times, on October 2, 1931 (in an item dated the previous day) reported the end of the bank. Under a quiet heading, the brief notice was one of four in the same column. They were stacked like coffins. Reduction of deposits was flatly stated to be the cause of one surrender.' Of the Mohawk Bank, it was said only that it "failed to open its doors today." The bank went into receivership on October 12, 1931. Receivership and oblivion might have been avoided after March 9, 1933. Under a conservator, reorganiza- tion and financial aid through stock issues became possible. It was too late for Mohawk. The bank in 1907, after alteration. It is ironic that an institution could survive the uncertainties of war, peace and panic only to be vanquished by a giant too big to slay: economic depression. Mohawk felt the loss. Various attempts to obtain banking facilities followed, includ- ing contact with Washington. The high point was reached in 1940 when 350 Mohawk residents petitioned the Oneida Na- tional Bank and Trust Company, of Utica, to establish a branch. Two years before, Mayor Corman had appointed a commit- tee to work with the Mohawk Village Board for the institution of a bank. A major purpose of the negotiation was the preservation of the old bank building, which otherwise would have been sold by the receiver. The efforts were rewarded. After a nine-year vacancy the Mohawk bank building was re- opened as a branch of the Oneida National Bank, itself a former bank of issue. The building had been closed since October of 1931, and it was now further modernized for the new occu- pancy. The staff was comprised of Edward W. Daly, manager, Robert James as assistant manager, and Catherine Dutcher, clerk. The latter two were residents of Mohawk. The branch, of course, was in every sense a successor, not a continuation. It was, however, heir not only to the building, but also to the ghosts of history that inhabited it. Local publicity was jubilant. The community celebrated, and it was happily announced that "the first account was opened by the Mohawk Central School, which deposited school funds." Mohawk once again had its own bank. The village today has a population of 3,301 (Rand McNally, 1985). Some two dozen notes of the National Mohawk Valley Bank Paper Money Whole No. 122 The first sheet, serial No. 1, of small size $5 notes for the National Mohawk Valley Bank—the only sheet known for the bank. have been recorded as of May, 1985. According to John Hick- man, 12 large-size notes are known, including two original series $10s. Among the small-size are a $5 in high grade and a $20 with serial number E000001A. The first sheet of small-size $5s has also been saved. Paper Money Whole No. 122 Other documents survive: drafts, scrip, and currency delivery records. Also extant are numerous Spinner signatures on frank- ed envelopes, correspondence, personal checks and auto- graphed cards. An interesting plate print of the old series bank name has the words incorrectly juxtaposed. The Legacy The Valley has changed. The brooding past is blended with our time, but the air of history remains. This matter of historical aura is often acknowledged in literature.' On a post card sent in 1942, Mohawk resident Mrs. D.D. Strait used two words to express what has often been said in many words. "Very historic," she wrote. How could that simple, unaffected observation have been better made? General Spinner is locked in history. He cannot come to us, but in a way we can return to him. The only time-travel we will ever know is in memory and imagination. We are the inheritors, reliquaries, and guardians of things from Spinner's day in life. That is our time machine—no less ingenious than Wells's con- traption, and closer by far to reality. Acknowledgment Gratitude is expressed to Dr. John A. Muscalus and to John Hick- man for valuable information, and to the Stanford Library in Orange County, California for access to early editions of The New York Times and the Chittenden memoir. Special thanks are also due to Mrs. Julia A. Streitz, of the Weller Library and the Mohawk branch of the Oneida National Bank for local news accounts; to Jeremy Adamson, Associate Curator, National Gal- lery, Ottawa; to California attorney Randy K. Vogel for welcome sug- gestions, and to artist William Zeilinger for his visualization of the bank before alteration. And in respectful memory of William P. Donlon, who knew "The Place." Bibliography and Recommended Reading Here, in absorbing reading, the collector will sense nearness to history. Alderman, Clifford Lindsey. Joseph Brant—Chief of the Six Nations. New York: Messner, 1958. A moving narrative, accenting the emnity between Brant and Red Jacket, the latter contemptuously called "Cow Killer" by Brant. American Heritage. The American Heritage Book of Great Historic Places [Narrative by Richard M. Ketchum]. New York: American Heritage Publishing Co., 1957. Chittenden, Lucius E. Personal Reminiscences. New York: Richmond, Croscup & Co., 1893. Eckert, Allen W. The Wilderness War. Boston: Little, Brown, 1978. Hughes, Brent H. "Development of the Spinner Signature," Paper Money, Vol. XIV No. 5, Whole No. 59, 1975. A remarkable assemblage of Spinner signatures, from youth to old age. Kammen, Michael. Colonial New York—A History. New York: Scribner's, 1975. McCulloch, Hugh. Men and Measures of Half a Century, 1882. Muscalus, Dr. John A. Private correspondence, 1985. The New York Times. Jan. 1, 1891; Oct. 2, 1931. Nussbaum, Arthur. A History of the Dollar. New York: Columbia University Press, 1957. Page 65 Polk's Bankers Encyclopedia. New York: Polk's, 1930. "Spinner Signatures Sold." Paper Money, No. 63, p. 133. Thomas, Howard. Joseph Brant (Thayendanegea). New York: Pros- pect Books, 1973. Van Every, Dale. A Company of Heroes. New York: Morrow, 1962. Wismer, D.C. Obsolete Bank Notes of New York. [Reprint of the Wismer work originally published in 1931.] Notes listed for the Mohawk Valley Bank are all extant, accord- ing to Dr. John A. Muscalus. Foot Notes 1. Told by Stanley Green in Reader's Digest Family Songbook (Pleasant- ville, New York: The Reader's Digest Association, Inc., 1969). Both melody and words were modified. 2. Nicholas Herkimer (1728-1777), American general in the Revo- lution. Ambushed while aiding Fort Schuyler. Mohawk village is in Her- kimer County. 3. Many Indians had English names. Red Jacket was fond of his. His eloquence is perceived in a flow of terse phrases uttered after the American victory. As quoted by Eckert in The Wilderness War (Boston: Little, Brown, 1978), in his poignant admission of defeat. Red Jacket said in part: "We disappear forever. Who, then, lives to mourn us? None! What marks our extermination? Nothing! We are mingled with the common elements." The famous Weir portrait was illustrated in Harper's Magazine in 1865. Special attention is given here to Red Jacket because of his ap- pearance on bank notes. He was not the most painted Indian, however. That distinction belongs to Joseph Brant (Thayendanegea). 4. Of the value of his service, the Hon. Hugh McCulloch (Secretary of the Treasury, 1865-1869) wrote: "A more trustworthy, conscien- tious, upright man than Francis E. Spinner never held an office under this Government or any other. ... He was the best business officer I ever knew." (Men and Measures of Half a Century, 1882.) 5. Not so named until June 20, 1874. 6. The bank was the National Eagle Bank of Boston. The bad note was photographic, and not overly deceptive. 7. That of the Main Line National Bank of Wayne, PA. 8. I sometimes think that never blows so red/The Rose as where some buried Caesar bled . . . (Rub6iyat of Omar Khayy6m, III). (More . . . Paper, continued from p. 57) One further suggestion. Willcox paper was not ordered after 1877, and Crane paper was not ordered until the middle of 1879. What paper was used during this two year period? The implication is that there were sufficient stocks of Willcox paper to last, but two years worth of printing would use quite a bit of paper. What is the likelihood that notes in the late 1878-early 1879 period were issued on variant distinctive feature paper, or perhaps on paper with no distinctive features at all? The answer is out there in someone's collection. Happy hunting! ■ (Report, continued from p. 59) were being hauled south, for when the "train" became mule- drawn wagons instead of railroad cars and weight became criti- cal, he simply recommended that the paper items be burned. It was done, and a numismatic treasure was gone, but fortunately plenty of Confederate currency and bonds survived for us to study today. Clark's story is now just another footnote in history. Page 66 by GENE HESSLER F RANCIS E. Spinner, whose signature appeared as U.S. Treasurer on the first United States notes was no male chauvinist. Spinner thought women, with the aid of a pair of scissors, would do a better and faster job of separating the bank notes printed in sheets of four. which were then delivered to the United States Treasury Department. So, on 29 August the man who would serve as United States Treasurer under three Presidents hired four young ladies to perform the task of separating the new bank notes that would finance the Civil War. Paper Money Whole No. 122 Prologue, the journal of the U.S. National Archives, quotes Spinner's description of his first protege, Jennie Douglas, as a "great tall double-fisted girl, that physically or mentally was more than a match for any of the men in the room," who, pro- vided "with long shears, in her first day's work, settled the mat- ter forever in her and the women's favor." With good judgement and an open mind, Spinner champi- oned the employment of women, but he was only able to secure for them 60 percent of the wages paid to their male counter- parts. As one can imagine the young ladies in the Treasury Depart- ment took much abuse from the men. Clara Barton, who worked in the Patent Office about 1855, reported that the men would line up in the hallway and blow smoke, spit tobacco juice in the direction of and make caustic remarks to the unwelcomed female bank note separators. Ten years later, in 1873, Treasurer Spinner continued to press for the employment of women. The American economy was moving upward and the Government was issuing more and more paper money. Women were now assigned to the issuing room where their nimble fingers counted as many as 50,000 "Spinner's Ladies" leaving the Treasury Building. (Courtesy the Treasury Historical Association) As the shears snipped, bombs blasted within hearing distance of the sandbagged-windows in the basement of the old U.S. Treasury Building at 15th Street and Pennsylvania Avenue, N.W. in Washington. The following year, 1863, when Susan B. Anthony organized the Women's Loyal League to support Abraham Lincoln, F. E. Spinner hired 70 more girls to separate an even greater number of bank notes. notes each day. With one half-hour for lunch in a six-hour day, the average counting rate was 9,000 notes each hour, 150 each minute or 1 1/2 every second. Coffee breaks had not yet been in- troduced. Toward the end of his life, F.E. Spinner said, "I don't claim that I have done much good in the world; but my success in in- troducing women into government employment makes me feel that I have not lived in vain." Paper Money Whole No. 122 Page 67 Significance of Plate Dates on National Bank Notes i t THE PAPER COLUMN `141 ' by Peter Huntoon PRIMARY CONVENTIONS Table 1 lists the dates that appear on most national bank notes. It is clear from this table that the plate dating conventions changed over a period of time. It was not until 1882 that the plate dates could be tied directly to an event related to the banks. Table 1. Primary plate dating conventions used for National Bank notes. Date on Plate Most likely Significance NEW BANKS Nov 2, 1863—Feb 15, 1871 Batch date that follows date of charter. Feb 15, 1871—Oct 15, 1881 Batch date—usually a multiple of 5 days—that closely follows date when plate ordered. Oct 15, 1881—Dec 1881 Transition period. Jan 1882—Jan 29, 1898 Date of charter. Feb 7, 1898— 1929 Date of organization. EXTENDED BANKS Jul 12, 1882 — Mar 2, 1913 Date of extension computed as date of expiration of charter plus 1 day.' Mar 4, 1913— 1929 Date of extension computed as date of expiration of charter. b TITLE CHANGES (change from territory to state is a title change) Batch date that follows date of title change. Batch date—usually a multiple of 5 days—that follows date of title change. Date of title change. Most recent of: date of organization, date of extension, b or date of statehood. a. The date of organization can be computed from the plate date by subtracting 1 day and either 20 or 40 years if the bank was organized after June 3, 1864. b. The date of organization can be computed from the plate date by subtracting either 20 or 40 years if the bank was organized after June 3, 1864. PURPOSE This article will present the most recent research available on the conventions used to engrave dates on national bank note face plates. The extension of charters for banks, provided for by the Act of July 12, 1882, forced the comptroller to seriously consider the dates associated with the corporate existence of a bank. The crucial date turned out to be the date of organization because that was the day when the corporate clock began running for a bank. The date of organization is defined as the date when the last of the signatures of the incorporators was applied to a docu- ment called an organization certificate. The organization certifi- cate was a standard form filed with the comptroller along with the articles of association during the process of applying for a charter. The other key date, the date of charter, was important to the comptroller because that was the day he awarded the bank its certificate of authority to commence business, com- monly known as its charter. It appears that late in 1881, the comptroller weighed these dates and decided his charter was the more important for new banks, so this was the date engraved on their plates. After rethinking the issue, the date of organization was adopted as the plate date for new banks beginning in 1898. The last bank to utilize a charter date (January 29, 1898) was the Blue Ridge National Bank of Asheville, NC (5110). The American National Bank of Chicago, IL (5111) sported the first date of organization (December 31, 1897). Both were issuing brown backs at the time. By the time the change from charter to organization dates took place in 1898, dates of extension had been appearing on plates for extended banks for 16 years. Notice that the date of extension for a bank organized after June 4, 1864, was itself related to the date of organization, not the date of charter. The dual philosophies in use between 1882 and 1898 appeared in- consistent. Apparently the comptroller agreed and unified the system. DATES ON ORIGINAL, 1875, AND EARLY 1882 NOTES The dating conventions used on the early national bank notes have been confusing to collectors searching for patterns. The significance of these dates is not fully resolved but three patterns have emerged. The earliest pattern involves batch dates that were progres- sively assigned to groups of sequential charter numbers. A specific batch date follows the dates of charter for banks as- signed to it. Periods ranging up to a few months separate batch dates. In most cases if a plate was made for a bank some lengthy time after the others in its group, it would carry the same batch date as found on the others. Although there are many excep- tions, such attention to the batch dates reveals that there was a rudimentary scheme and that it was tied most closely to the charter dates. 1863—Feb 15, 1871 Feb 15, 1871— 1881 1882—Feb 21, 1919 Apr 12, 1919— 1929 Page 68 The same batch dates were generally used on all the plate combinations issued by the banks in a given group. For ex- ample, you can find November 2, 1863 — the first date used — on a variety of denominations. If a bank issued notes from several combinations, it follows that its plates generally car- ried the same batch date. The most common exceptions in- volved the early 1-1-1-2 plates, which were not produced until 1865. The earliest date on these was January 2, 1865. A number of inconsistencies appear in the records. Some dates are utterly unique to one plate or a very small number of plates, and have the appearance of being mistakes. Occasion- ally a charter number will be batched among a group having an otherwise entirely different charter number range, making it ap- pear that it was misplaced in that batch. The strangest occur- rence that I found involved the 10-10-10-20 plate for The First National Bank of Galesburg, IL (241). The records show that it was dated November 2, 1863; however, the bank was char- tered in 1864. This is either a mistake on the plate or in the records. The second pattern is the 5-day convention, which was in use between 1871 and 1881. Here again the dates are batch dates but they characteristically consist of multiples of 5 days. Most common is the 15th day of the month; next in frequency is the 25th. The 5-day convention dominated until charter dates be- gan to be used at the end of 1881. However, like the first bat- ching pattern, inconsistencies occur. For example, September 18, 1872 was used on several plates, and other out-of- character dates are sprinkled through the record. The significance of the 5-day dates is different than the earlier batch dates. The 5-day dates more closely reflect when the plates were ordered than any other factor. The evidence for this is a pattern in the records wherein the plate date closely pre- cedes the first delivery of notes from the plate. In cases where a bank used more than one combination, the dates on the plates were not always the same. For example the 10-10-10-20 and 50-100 plates for Little Falls, NY (2400) were dated November 15, 1878. The 5-5-5-5 plate was dated December 20, 1878, and was made later than the other two. The third pattern appears in late 1881. Here we see the first use of charter dates on plates, a practice that was followed for new banks until 1898, but not without exceptions. Beginning late in 1881, the first Series of 1875 or 1882 plate engraved for a new bank invariably carried the charter date. However, if the bank decided to use a different combination at a later time, the new plate commonly ended up with a date that closely reflected when the plate was made, a throwback to the previous batching system. This practice appears to have died out in the mid- 1890s. After that time great care was exercised to follow the Paper Money Whole No. 122 conventions in Table 1 for all plates regardless of when they were made. Incidentally, the mixed use of dates is also fairly common on brown backs for banks that had their charters extended before the mid-1890s. Three plates for the Farmers and Merchants Na- tional Bank of Poughkeepsie, NY (1312) nicely illustrate the oc- currence of mixed dates before the mid-1890s, and develop- ment of a consistent pattern afterward. The first was a 10- 10- 10-20 carrying the date of extension June 4. 1885, and hand- written approval date of July 8, 1885. Next came the 50-100 that was dated February 14, 1893, which was approved Feb- ruary 28, 1893. Last was a 5-5-5-5 dated June 4, 1885 (date of extension) and approved August 12, 1903. Notice from the approval dates that the 50-100 was dated close to when the plate was ordered consistent with practices at that time. In con- trast, when the 5-5-5-5 was made, care was then being taken to follow the convention that extension dates were to be used regardless of date of manufacture so its date reverted to the 1885 extension date. I have seen no evidence that a date was ever changed, re- gardless of reason, once it was engraved on a plate. Conse- quently, no attempt was made to alter a plate such as the 50-100 Poughkeepsie to bring it into alignment with new policies after it was made. DATES ON CONVERTED SERIES OF 1875 PLATES Original Series plates were eventually converted into Series of 1875 plates for active banks. The most important features modi- fied were the treasury signatures, which were changed to reflect the officers current at the time the plates were altered. The alteration of a particular plate could have taken place any time after the series began in 1875 because there was no concerted effort to modify the plate until existing stocks of Original Series notes from it were exhausted. Important to this discussion is the fact that the dates on the altered plates were left untouched. They are therefore the only plates in the history of national bank note issues where the plate does not conform to the terms of the treasury officers engraved on the same plate. This topic is treated in more detail in Hun- toon , Hickman and Raymond (1984). DUPLICATE PLATES AND SERIES OF 1882 REDESIGNS In all cases, regardless of conventions in effect, duplicate plates carried the same signatures and date as the plates they replaced. The key word here is duplicate — duplicate title, series and combination. Paper Money Whole No. 122 A special class of plates deserves attention—Series of 1882 plates which were replaced by new plates that had been totally redesigned. The most familiar are the 5-5-5-5s with stacked treasury signatures to the left of the bank titles. This style was discontinued in 1886, and those in use slowly began to be re- placed by the new variety where the treasury signatures were on line with each other. The new plates were treated as duplicates; they specifically carried the identical dates and signatures as the old designs that they replaced. The plate letters on the new plates were advanced as was normal for duplicates. The early Series of 1882 10-10-10-10, 10-10-10-20 and 50-100 were altered Series of 1875 American Bank Notes Company plates. These were systematically replaced by Bureau of Engraving and Printing plates beginning in the late 1880s. In some cases, the title layouts were dramatically changed. The new plates were treated as duplicates so the signatures and dates remained the same as on the plates that they replaced. As with the redesigned 5-5-5-5s, the plate letters were incre- mented. DATES ON EXTENDED BANK PLATES Dates of extension were used on at least the first plate made for all extended banks. The dates of organization can be com- puted easily from these dates as explained in the footnotes for Table 1 if the banks were organized after June 3, 1864. Little known to collectors is the fact that banks organized under the Act of February 25, 1863, had initial corporate suc- cessions that had to expire before February 25, 1883. In other words their charters ran for a period of less than 20 years from their dates of organization. Because of this, the formulas on Table 1 do not work for banks organized before June 3, 1864. The method for computing the date of extension changed in 1913 as shown in Table 1 and occurred between two banks or- ganized on March 2, 1893. The date of extension for The First National Bank of Hempstead, NY (4880) was computed using the old formula to yield a Series of 1902 plate date of March 3. 1913. In contrast, the date of extension for The Lincoln Nation- al Bank of Pittsburgh, PA (4883) was computed using the new formula to yield a Series of 1902 plate date of March 2, 1913. The break is clean and is based on the date of organization, not the date of charter. Two other extended banks have March 2, 1913 plate dates, Noblesville, IN (4882) and Girard, OH (4884). Both were organized on March 1, 1893, so they fall in the old formula class. 1921-1922 EXTENSION PLATE DATES Banks that had been issuing the Series of 1902 notes since 1902 had charters that were about to expire for either a first, second or third time. The Act of July 1, 1922 provided for auto- matic 99-year extensions for all banks. However, the charters for 263 banks whose charters were expiring for the first or sec- ond time, and which were already issuing Series of 1902 notes, were forced to undergo the process of formally extending their charters for another 20 years. The extensions were required be- cause their charters expired before passage of the Act of July 1, 1922. A totally new group of Series of 1902 plates were prepared and used for 161 of these banks. These are the so-called "4th charter" and "1922" plates. They are every bit as distinctive in the eyes of the law and policy as the differences between Series of 1875 and 1882 or Series of 1882 and 1902 issues. The plates involved can be distinguished because they carry plate dates of 1921 or 1922, and have charter numbers in the ranges 2-66, 2657-2749, and 6100-6649. If you have a 1921 or 1922 Page 69 dated note in these ranges, it is also possible to find a Series of 1902 note from the same bank with a 1901 or 1902 plate date. The date on the 1921-1922 plates is the date of extension computed as the date of expiration. To confuse things, if you have pairs of notes from the banks representing the 1901-1902 and 1921-1922 types, the days match on those with charters above 6100 unless there was a title change. The reason for the match is that the banks in the 6100-6649 range were chartered in 1902 so their early 1902 plates carry the date of organization. In contrast, those in the 2-66 and 2657-2749 ranges were ex- tending for the first time in 1902 and their early 1902 plates carry their dates of extension computed as the date of expiration plus one day. Therefore the dates on their 1901-1902 vintage plates are one day greater than on the 1921-1922 plates. The dates on the early 1902 notes for charters 2 and 3 are excep- tions, a topic that will be treated in the next section. You may well ask how charters 11 through 66 fall into this group. These numbers were awarded in 1863, and therefore these banks should have been coming up for their third exten- sions in 1922. I state previously that they were coming up for their second extension which seems like a blatant error. The next section will explain this paradox as well. A complete list of the 161 banks involved in the 1921-1922 extensions treated in this section and their plate dates appears in Huntoon (1986). DATES ON 1902 PLATES FOR REORGANIZED BANKS A serious circumstance developed in early 1882 when the first of the banks organized under the National Bank Act of February 25, 1863, faced the expiration of their charters. Remember that all banks organized under this act had to expire before February 25, 1883. A large number of banks selected in- itial corporate lives of 19 years to comply, and these were the banks facing extinction in early 1882. The fact is they could not be saved. The Act of July 12, 1882, allowing for a 20-year extension, was not passed in time. The only option for these unfortunate banks was to liquidate, and reorganize as brand new banks. Commonly the new banks had the same title as the old, but they lost their low charter numbers in the process and ended up with new ones in the 2400 to 2800 range. Extremely important for the student of dates is the fact that the banks now had entirely new organization dates as well that ranged between 1880 and 1882. Twenty-one banks had their charters expire out from under them. Of these, 17 reorganized under new charters. Another 60 banks facing extinction voluntarily liquidated and reorganized successor banks before passage of the Act of July 12, 1882. The first six of the reorganized banks received Series of 1875 notes. The rest were given Series of 1882 notes, and two char- ters — 2662 an 2730 —received both. All these notes were issued from plates carrying the date of charter for the new banks in conformity with the conventions on Table 1. All dates as- sociated with the expired 1863 banks were forever relegated to history. The reorganized banks lost their low charter numbers, which were prestige items in an industry that prides itself on a long history of stability. Clearly the impacted banks lobbied for re- covery of their old numbers because the comptroller established a process in 1902 whereby they could reclaim the old numbers. Twenty-nine banks (listed in Huntoon, 1986) took advantage of the process, two in 1902, and the rest between 1909 and 1913. All they retrieved were their old charter numbers. The organiza- tion and charter dates attached to those old numbers were the 'llatink01110/01111 P t M entit ,$1111atv ornsrin$ won. winoltt litimme or EttoSTATESOFAMERICV June 4, 1907, is the date of extension but it is a territorial date on a state plate made in 1929. Conventions then in use dictated that the date should have been statehood day, February 14, 1912. This is an error. Page 70 1882 dates associated with the reorganized bank, not the 1863 dates for the predecessor. This fact is of great importance to this discussion. All the impacted banks were issuing Series of 1902 notes when the old charter numbers were reassigned to them. The question is obviously what date ended up on those plates! The answer is one of three possibilities, one of which is a genuine ex- otic. The most common was the date of extension for the re- organized bank (date of organization plus 20 years plus 1 day). Extension dates were used on plates for 26 of the 29 banks when the new low charter number plates were prepared. Series of 1902 plates for charters 1, 3, 5, 7 and 8 are but five examples from this group. Notice the quirk. Each plate carried 1863 charter numbers but a date based on an 1882 date of organization. The reassignment date was engraved on the new low charter numbered Series of 1902 plates for two banks, charters 2 and 59, respectively March 19, 1909, and April 30, 1909. The exotic was the resurrection of charter number 20 on March 5, 1913. Charter 20 was originally assigned to the Third National Bank of Cincinnati in 1863. This bank was liquidated in 1882, and reorganized with the same title under charter 2730. The intrigue began when 2730 was liquidated on June 18, 1908, as it consolidated into 2798, The Fifth National Bank of Cincinnati. As a result of the merger, the title of 2798 was changed to the Fifth-Third National Bank on June 2, 1908. In 1913, the Fifth-Third National Bank (2798)-wanted to retake charter 20 based on historic linkage through 2730. The comp- troller acquiesced and 2798 won the right to use charter number 20. The actual date that ended up on the Series of 1902 plate for the Fifth-Third National Bank bearing charter 20 was June 2, 1908. This is the day that 2798 changed its title from the Fifth National Bank to the Fifth-Third National Bank. If you carefully examine the dating conventions on Table 1, you will find that this is logical but it must have taken three Philadelphia lawyers to figure it out in 1913! DATES FOR TITLE CHANGES The plate dates that resulted from title changes typically fol- lowed the pattern shown on Table 1, but don't be surprised if you find exceptions, particularly in the Series of 1875 and early Series of 1882 issues. Remember that the conversion from terri- tory to state was considered a title change by the comptroller for the purposes of dating plates. One date that I have never been able to figure out is the February 1, 1890 date on the Series of 1875 black charter 5-5-5-5 plate for the First National Bank of Central City, Col- orado (2129). This date has no relationship to anything. The Paper Money Whole No. 122 bank was chartered in 1873, Colorado became a state in 1876, and the 5-5-5-5 plate was altered to carry the 1890 date in 1893, and approved for use January 13, 1893. I once specu- lated that the February 1 date was the day authorization was given to alter the plate from a territorial to a state plate (Hun- toon, 1984). This remains purely speculative and doubt- ful — the date looks like a phantom. The conversion from terri- torial to state plates for both Nebraska and Colorado appears to have resulted in most cases in new batch dates on the plates that were more indicative of when the plates were modified than any other factor. Even that doesn't work for the Central City case. From 1882 until 1919, title changes dominantly resulted in the title change dates being engraved on the new plates. This system was abruptly phased out early in 1919. The last plate to bear the date of a title change was made for The National Bank of Commerce of Kansas City, MO (10231), which had changed its title on February 21, 1919, from The Southwest National Bank of Commerce. The next title change occurred on April 12, when The Peoples National Bank (10597) and The Union Na- tional Bank (9687), Columbia, SC, consolidated under the title The Liberty National Bank of South Carolina (9687). The new Liberty National Bank Series of 1902 plates were dated Febru- ary 10, 1910, the date of organization for 9687. The earliest title change that I have been able to find involved the change from The Second National Bank to The Vilas Na- tional Bank of Plattsburg, NY (321). The change took place on March 1, 1869. The respective old and new 10-10-10-20 plates for these titles were dated April 2, 1864, and July 2, 1869. Both are batch dates as expected from Table 1. Notice that the 1869 batch date closely follows the date of the title change. The most interesting violation of the dating conventions I have found involved a title change from the National Bank of Arizona to First National Bank of Arizona at Phoenix, Arizona (3728), which took place on July 17, 1926. The new Series of 1902 plate should have been dated February 14, 1912 — state- hood day—using the conventions listed in Table 1. Instead it carried the date of extension, June 4, 1907. Notice that the error resulted in a territorial date, and treasury signatures con- form to the territorial period. This great plate is treated in detail in Huntoon (1981). CONCLUSIONS Table 1 and the other information in this article can be used to explain 99 percent of the dates on national bank notes. In all of these cases the dates mean something, the least useful from the perspective of bank historians being the batch dates on the NatillonadirsurAtnacr. • some surtistwommitiscamogs -+ UNITED STATES OFAMERICA 44.144-4ar VC", ,Xinott/r. Paper Money Whole No. 122 Original Series, Series of 1882, and some early Series of 1882 plates. Careful examination of hundreds of notes or proofs, especial- ly if all the prints for one bank are laid out together, reveals in- consistencies and occasional errors such as the Phoenix ex- ample previously cited. The inconsistencies usually involve what appear to be wrong days. These are the most frequent in the early Series of 1882 brown backs when dates of extension were first being used. Three examples illustrate the problem. The Sec- ond National Bank of Utica, NY (185) Series of 1882 plate is dated November 6, 1882, whereas the 1902 plate is November 5 — the 1882 should be November 5, The First National Bank of Bangor, MA (112) 1882 is September 14, 1882, whereas the 1902 is September 15, 1902 — the 1882 should be September 15, 1882. Similarly The First National Bank of Erie, PA (12) 1882) is dated February 27, 1883, the 1902 is February 26, 1903 — the 1883 should be February 26, 1883. Page 71 It could be argued that being off a day resulted from an at- tempt to avoid Sundays or holidays when the extension was granted. Unfortunately this does not bear out in most cases. More simply, the incorrect dates probably reflect clerical errors made when the plates were ordered. The fact is that no regard seems to have been given Sundays and holidays when it came to dating plates. If the formula required that the extension date fall on Christmas, so be it, as happened in 1906 for The Albany County National Bank of Laramie City, WY (3615). December 25, 1906 appears on the Laramie notes. Likewise if the bank was to expire on December 31, use of the pre-1913 extension formula forced the new plate to be dated January 1 of the fol- lowing year. The First National Bank of Houlton, ME (2749) is a case in point. Its charter expired December 31, 1901. Its series of 1902 plates are dated New Years Day, 1902, the date of ex- tension. Equally interesting is the organization day for The First National Bank of Clifton, KS (7178) on leap year day, 1904: February 29, 1904 appears on its 1902 plates. December 25, 1906. is the date of extension computed as the date of expiration plus one day. The bank was organized on December 24, 1886. SOURCES OF DATA AND ACKNOWLEDGEMENTS Sources of date for this article include: (1) Bureau of Engrav- ing and Printing certified proof impressions in the Smithsonian Institution collections, (2) a series of Comptroller of the Cur- rency ledgers in the National Archives, which list both the receipts from the engravers and plate dates, (3) the extensive National Bank note photocopy files assembled by John Hick- man, and (4) various tables that list dates of charters, expira- tions, and title changes in the Annual Reports of the Comp- troller of the Currency. John Hickman spent considerable time at the end of a phone, rifling through his photocopies for dates as I called out charter numbers. Lynn Vosloh, Smithsonian Institution Division of Numismatics, helped locate hundreds of certified proofs, which had to be examined. William Sherman and George Brisco of the National Archives provided access to the ledgers. Don Kelly's book (Kelly, 1982) is indispensible for a study of this type. Gerome Walton (1977, 1978) must be credited with first reveal- ing the overwhelming importance of the date of organization . Don Kelly reviewed the manuscript and made several sugges- tions for its improvement. REFERENCES CITED Huntoon, P., 1981, The misdated 1902 plate for the First National Bank of Arizona at Phoenix: Paper Money, v. 20, p. 67-70. Huntoon, P., 1986, The relationship between National Bank notes and corporate extensions and reorganization of National Banks: Paper Money in press. Huntoon, P., J. Hickman, and W. Raymond, 1984, $5 Original Series and Series of 1875 black charter notes and new insights on dates and signatures on first charter notes: Paper Money, v. 23, p. 215-221. Kelly, D., 1982, Note issuing National Banks, alphabetic by city name. numeric by charter number: Paper Money Institute Inc., Oxford. OH. Walton, G., 1977, Dates on Nebraska National Currency: The Nu- mismatist, v. 90, p. 2005-2030. Walton, G., 1978, A history of Nebraska banking and paper money: Centennial Publishers, Lincoln, NE, 674 p. Conducted by Forrest Daniel ti /5, Page 72 LaMoure, N. Dak., Nov. 12, 1897 "Supply agents" who were selling groceries to farmers in Renville county, Minn., "awful cheap" (the farmers, not the groceries, as it turn- ed out), made the gullible grangers sign the orders for groceries. Under- neath the very thin order blank was a sheet of carbon, and beneath that a promissory note. The sharpers sold the notes to a bank at Morton as soon as they were ready to skip and then went. The farmers remain to pay the notes. —Grand Forks Courier. Paper Money Whole No. 122 A BUSINESS TRANSACTION BY A FREE BANKER The Indianapolis Journal has heard of a case where the managers of the Citizens' Bank of Gosport gave a man seven thousand dollars of their money for circulation in Iowa for the man's individual note of five hundred dollars! This is broad swindling, but a game that has been played by bogus Banks more than once. This Gosport Bank was a pret- ty free bank, though it was not organized under the free banking law of Indiana. It was a "wildcat' concern, and issued its promises to pay under the shadow of the free bank law. Its notes are, however, as good as any they have in Iowa . —Hastings (Minn.) Independent, Feb. 4, 1858. COUNTERFEITERS CAUGHT Milwaukee, April 9, —Collin McDonald, a Bay City, Mich., saloon- keeper; Frank Westbrook, alias Malcomb; and "Hi" Weed, an unknown, were arrested early this morning in the all night saloons of the West side. On their persons was found nearly $1,000 in photographed bank notes, all of the denomination of $20, except one "queer" $5 note. The $20 was an excellent photograph of a South Bend National Bank bill numbered H 6,380,196. —Grafton (N. Dak.) News and Times, Apr. 12, 1894. kags Wont "Shake kag Stieet" Me Story of a Wisconsin Broken Bank by BARBARA R. MUELLER, NLG ISCONSIN is not a state noted for diversity of broken bank notes, but even the few of which it can boast have stories of intrigue and fraud to rank with the bet- ter yarns about frontier financial swindlers. For example, the elaborate notes of the Bank of Mineral Point printed by Rawdon, Wright & Hatch tell the tale of one Samuel B. Knapp, pioneer promoter. Like many early settlers, he was attracted in the 1830s to the picturesque, hilly, southwestern part of the territory close to the Illinois border because of the boom in lead mining. Miners from Cornwall in Great Britain were also attracted to the "diggin's" there and burrowed like "badgers" into the hills for the precious ore (hence the nick- name—the Badger State). They built themselves homes of native stone with walls two feet thick, windows deep sunken, doors six-paneled, and floors of random width pine boards. Fireplaces furnished heat in the frigid winters. These quaint houses have been preserved through the Pendarvis restoration project of the State Historical Society of Wisconsin, and summer tourists now flock to "Shake Rag" Street to see them. This appelation arose from the housewives' custom of waving a white rag or cloth from a pole at noon to summon their men home to dinner from the hill across the valley. In fact, in 1836, Mineral Point—the few buildings which comprised the settle- ment—was also known as "Shake Rag" or "Shake-Rag-Under- the-Hill." According to Wisconsin in Three Centuries, "Among the other evidences of the rude and primitive condition of the town . . . was the almost unceasing howling and barking of the wolves during the night, around and within its borders, sound- ing, at times, as though the town was infested by scores of the brutes, much to the annoyance and alarm of timid strangers." It was into such a settlement that Samuel B. Knapp moved in 1838. He became involved in the Bank of Mineral Point, which had been incorporated in 1837 by act of the Territorial Legislature. It was declared to be in safe condition in January 1839 by a legislative examining committee, and its notes were signed by "Sam. B. Knapp, Cashier." A year later Knapp was appointed Fiscal Agent of the territory by the Legislature and authorized to receive federal funds for territorial use in August 1840. In October he was sent $19,209.38 of such funds. But in May 1841, after he failed to secure a reappointment as Fiscal Agent, he refused to return the public money to the Secretary of the Territory. In August 1841, the bank was placed in custody of the law and its vaults were found to be empty. Samuel Knapp, his bother R.C. Knapp, and bank teller Porter Brace had fled with the assets. A posse pursued them across the Illinois state line and the trio was captured in either Galena or Rockford (there are conflicting reports of the chase). A search of their luggage, which included two volumes of Dickens' novels, turned up more than $70,000 in drafts and certificates of deposit, $1,500 in Illinois bank notes, and bills of lading for 903,070 pounds of lead. The fugitives were returned to Mineral Point, but at this point the historical record lapses and there seems to be no account of the fate of Knapp and his accomplices. It is recorded that bank customers lost several thousand dollars in Knapp's financial manipulations, however. Only the truly "broken" bank notes remain as mute testimony to an all-too-familiar episode in 19th century America. Paper Money Whole No. 122 The Notes The $5, $10 and $20 notes have iconography and layout typical of their period. The $5 has an eagle at top center, an In- dian drawing his bow at the right, and a river steamboat at the bottom center. The $10 has Hermes scattering what may be coins out of a cornucopia at top center, a liberty-capped female rising out of dark waters at the right, and a variation of the familiar dog and safe vignette at the bottom center. The $20 is notable for an early, appropriate use of the badger symbol for Wisconsin at bottom center. A small vignette of an alchemist is at top center, while a large, circular vignette of Vulcan at his forge, Hermes and a female figure is at the left. Page 73 Knapp signed in a bright blue ink on two examples of the $5 and the $20, and in black on the $10. The president was a Walter Jones, who appeared to preface "Walter" by two letters that might be the abbreviation "Dr." if used today. Both fives have the name "Ramsey Crooks" written in as payee and "on demand" crossed out. They are dated January 1840. The $10 has John Ward as payee and is also dated January 1840 but does not have "on demand" crossed out. The $20 does have that deletion and has John Walsh as payee, but it is dated December 1839. The back of the $20 has three large and four small counters, with "XX" on the center counter. The color is a faded brownish orange. References 1. Old World Wisconsin, by Fred L. Holmes, E.M. Hale & Co., Eau Claire, Wis., 1944. 2. Wisconsin in Three Centuries, Volume II, The Century History Company, New York, N.Y. 1906. 3. Badger Postal History, February 1982, Wisconsin Postal History Society, Madison, Wis. Page 74 Paper Money Whole No. 122 !Railroad Notes and Scrip of the United States, the Confederate States and Canada by RICHARD T. HOOBER (Continued from PM No. 121, Page 24) 65. 25t (L) Train, wharf scene. (C) Reverse of U.S. 250 piece. (R) Farmers sowing grain. R6 66. 500 (L) Train, wharf scene. (C) Reverse of 4 Reales piece. (R) Train. R6 67. 1.00 (L) Farmer plowing. (R) Train, wharf scene. R6 68. 2.00 (L) Canal scene. (R) Train, wharf scene. Date—Nov. 4, 1837, part ink. Imprint —S. Stiles, Sherman & Smith, New York. R6 MINNESOTA ST. PAUL — ST. PAUL & PACIFIC RAILROAD - 1. lOir (L) 10. Red print. Date — None. Imprint —None. R7 Minnesota No. 1 MISSISSIPPI ABERDEEN— ABERDEEN, PONTOTOC RAILROAD & BANKING COMPANY The railroad was incorporated in 1836. A subsequent act, passed in 1840, forced this quasi- bank to forfeit its charter for failure to redeem its notes in specie. 1. 5.00 (L) Female, FIVE DOLLARS below. (C) Men loading bales, between 5s. (R) Ceres, FIVE DOLLARS below. R6 2. 10.00 (L) Female, X above, 10 below. (C) Battlefield scene. (R) Female, X above, 10 below. R6 3. 20.00 (L) Man, 20 below. (C) Eagle, XX above. (R) Man, 20 below. R7 4. 50.00 (L) Riverboat, 50 above and below. (C) Sailing ships. (R) Train, 50 above and below. R7 Paper Money Whole No. 122 Page 75 5. 100.00 (L) Train, 100 above. (C) Train. (R) Train, 100 above. Date—Jan. 29, 1838, part ink. Imprint—Draper, Toppan, Longacre & Co. Phila. & N.Y. R7 Mississippi No. 1 ABERDEEN—NEW ORLEANS, JACKSON & GREAT NORTHERN RAILROAD COMPANY 6. 250 No description. R7 BENTON—BENTON & MANCHESTER RAILROAD & BANKING COMPANY This quasi-bank was incorporated February 26, 1836, to construct a railroad from Benton to Manchester (now Yazoo City). A supplemental act of 1840 forced the bank to close for failure to redeem its notes in specie. 7. 5.00 No description. R7 Mississippi No. 8 8. 10.00 (L) Commerce, X below. (C) Justice, buildings, between 10s. (R) Liberty, X below. R7 9. 20.00 (L) Train, 20 above and below. (C) Man, Moneta and chests. (R) Washington, 20 below. R7 , H" r) • 54 - (4/ 1 ) 1 . itlid()It ,\I 1,? ir Page 76 Paper Money Whole No. 122 10. 50.00 No description. Date-May 7, 1838, part ink. Imprint -Draper, Toppan, Longacre & Co. Phila. & N.Y. R7 BRANDON- MISSISSIPPI & ALABAMA RAILROAD COMPANY The company had offices in Brandon, during the years 1837 and 1838. Although there is no record of a road having been built, an extensive series of notes were issued through 1843. 11. 2.00 (L) Woman, TWO above and below. (C) Mill scene, between 2s. (R) Woman, TWO above and below. R7 Mississippi No. 12 12. 3.00 (L) Train, THREE above, 3 below. (C) Commerce, between 3s. (R) Train, THREE above, 3 below. R6 13. 5.00 (L) Stephen Girard, 5 above and below. (C) Moneta. (R) Stephen Girard, 5 above and below. R2 14. 5.00 Similar to No. 13, with "The Girard Bank, Philadelphia" added. R3 15. 5.00 Similar to No. 13, with "Merchants Bank, New York" added. R5 16. 5.00 Similar to No. 13, with "The United States Bank, Philadelphia" added in ink. R5 17. 5.00 (L) Train, 5 above and below. (C) Men loading bales, man at left, Indian at right. (R) Train, 5 above and below. R3 18. 10.00 (L) Train, 10 above and below. (C) Washington, between females. (R) Train, 10 above and below. R2 19. 10.00 (L) Washington, 10 above and below. (C) Eagle. (R) Lafayette, 10 above and below. R3 20. 10.00 (L) Dog, safe, key, 10 above, X below. (R) Man, women, horses, chariot, 10 below. R6 21. 10.00 Similar to No. 19, but payable at "The Merchants Bank, New York" added in ink. R5 22. 10.00 Similar to No. 19, but payable at "The Girard Bank, Philadelphia" added in ink. R5 (To be continued) Paper Money Whole No. 122 Page 77 Interest Bearing Notes Larry As you read this, spring will be approaching (I hope!!) and along with it a very busy time for our hobby. As noted on the Coming Events Page, the SPMC will hold a number of regional meetings this year. Please follow the Events Page and the nu- mismatic press for more details about these events. SPMC CANCELS FUTURE CHERRY HILL PLANS Following the 1985 International Paper Money Convention a mail ballot was taken; the result was to NOT continue plans for SPMC-sponsored conventions at Cherry Hill in November of 1987 and 1988. The general consensus was that those dates conflicted with a series of shows planned in St. Louis, spon- sored by the Professional Currency Dealers Association. At the present time there are no plans by our Society to hold another convention at Cherry Hill. We will, however, continue to hold regional meetings at various shows and conventions as we have done inthe past. We appreciate the support and participation at the 1985 convention at Cherry Hill and hope the experience was beneficial and enjoyable to those who attended. DUES REMINDER If you have not paid your 1986 dues, this is a gentle reminder that they are PAST DUE. We hope that you will submit your dues promptly so that you will continue to receive PAPER MONEY regularly. With a top-notch publication, members' library, book publishing program, social events, and other pro- grams, I hope you consider $15 to be a modest and prudent in- vestment for the enjoyment of your hobby. If you have mislaid your dues notice or have not paid your dues, please take a mo- ment now to remove the mailing label from this issue's envelope and send it along with your check for $15 made payable to SPMC, to James F. Stone, SPMC Treasurer, P.O. Box 89, Milford, N.H. 03055. Please indicate your membership number on the check. We hope all of you will share in the enjoyment of our hobby through membership in the SPMC for a long time to come. VERMONT BOOKS DONATED TO THE SOCIETY Through the generosity and resourcefulness of Dick Bal- baton, SPMC Book Sales Coordinator, a number of copies of M.B. Coulter's book, VERMONT OBSOLETE NOTES AND SCRIP, published by the Society in 1972, were located and pur- chased by Mr. Balbaton, and DONATED to SPMC. We appre- ciate your contribution, Dick! Copies of the book are available for $12 to SPMC members from R.J. Balbaton, 116 Fisher, North Attleboro, Massachusetts 02760. MEMPHIS EXHIBITORS Members are encouraged to place exhibits at the Memphis Convention in June. Contact Martin Delger, 323 Dawnlee Ave., Kalamazoo, MI 49002 no later than May 1, 1986. 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 organization in numismatics. In keeping with this recruiting objective, the top recruiters will be recognized in our bi-monthly magazine. An award will be presented to the top recruiter of the year. Total Dec.-March Ronald Horstman 18 Collectors John Wilson 10 Wendell Wolka 4 Dealers Richard Balbaton 7 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. AMERICAN BANK NOTE CO. OFFERS COLLECTOR SERIES American Bank Note Company, a subsidiary of International Bank Note Company, is developing a historical vignette series, which will open ABNCo.'s vast engraving archives to the collec- tor. This program is being considered in response to the many requests ABNCo. has received over the years regarding infor- mation from the company's inventory of thousands of steel dies engraved by master engravers during the 19th century. Many of these delicately engraved vignettes are representative of American life during the 19th century as seen through the ar- tistic eye of the engraver. They also encompass a wide variety of subjects that include Indians, Railroads, Sailing Ships, Family Life, Architecture, Presidents and other notables in the financial world, and many more. Up until now, examples of individual vignettes that have ap- peared on security paper have been scarce in some instances, and rare in most. ABNCo's unique program would enable collectors to match vignettes with notes and certificates in their collections and would include information pertinent to each vignette. ABNCo. is planning to introduce this program in January 1987, through subscription only. The vignette and data sheets will be issued monthly and will be devoted to a particular subject each month. The subscription fee will range from $120.00 to $150.00 per year. In June, at the International Paper Money Show in Memphis, representative vignette sheets will be on display at ABNCo.'s ex- hibit. (This is the opportunity that many of us have been waiting for, a chance to possess examples of engravings that heretofore were, in many instances, unobtainable. As collectors we are all curators of repositories of security engraving. Let's enlarge those repositories with vignettes from a series that could go on for years and years. After some of us are gone, there will be those who will be grateful that we took advantage of this once in a life- time opportunity. ed.) Page 78 Paper Money Whole No. 122 COMING EVENTS PAGE 1986 REGIONAL MEETINGS Kansas City, Missouri—April 2-6, 1986. Central States Numismatic Society Annual Convention and Coin Show, Westin Crowne Center, Kansas City, Missouri. SPMC will hold an informal regional meeting here, hosted by SPMC Governor John Wilson. For information, contact John Wilson, P.O. Box 27185, Milwaukee, Wisconsin 53227 414-545-8636. Memphis, Tennessee—June 20-22, 1986. Memphis Coin Club's 10th Annual Paper Money Show, Memphis Convention Center, Memphis, Tennessee. Usual activities. Tentative schedule: SPMC Board Meeting — 8:30 AM Saturday June 21 SPMC General Meeting — 10:00 AM Saturday June 21 SPMC Awards Banquet (25th Anniversary)— 6:30 PM Saturday June 21 Tom Bain Raffle Speaker to be announced. Organization meetings will be held at the Crowne Plaza Hotel, across from the Convention Center. Watch this space and the numismatic press for further details. For further informa- tion contact Mike Crabb, Chairman, P.O. Box 17871, Memphis, Tennessee 38117. 901- 754-6118. Milwaukee, Wisconsin—August 6-10. American Numismatic Association 95th Anniversary Con- vention, MECCA Convention Center, Milwaukee, Wisconsin. Tentative schedule of events: RAG PICKERS BREAKFAST — SPMC General Meeting 8:00 AM Room E-2, MECCA Convention Center, Satur- day, August 9. Co-hosted by SPMC and IBNS. Cost: $10. Speaker: Chet Krause of Krause Publications, Iola, Wisconsin. 11:00 AM Room E-6, MECCA Convention Center, Satur- day, August 9. Featured speaker will be Dr. Glenn Jackson of Watertown, CT, who will present a slide pro- gram on "Lorenzo Hatch, Banknote Engraver." Reservations for the Ragpickers Breakfast are requested. Checks for $10 made out to SPMC should be sent to John Wilson, P.O. Box 27185, Milwaukee, Wisconsin 53227, 414-545-8636. Please contact him about further information about SPMC-related activities at the 1986 ANA Convention. St. Louis, Missouri — November 13-16, 1986. National Paper Money Convention, St. Louis Cervantes Convention Center, St. Louis, Missouri, sponsored by the Professional Currency Dealers Association. SPMC is planning a regional meeting at this event. Please watch this column and the numismatic press for further information. For bourse information contact Kevin Foley, P.O. Box 589, Milwaukee, Wisconsin 53201. General Chairman for the show is Ron Horstman, P.O. Box 6011, St. Louis, Missouri 63139. Paper Money Whole No. 122 Letter to the Editor In an editorial in the September-October issue of PAPER MONEY, Mr. Hessler reflected on what he felt was the cause of the decline of interest in the souvenir card hobby. Basically he felt the card hobby was destroy- ing itself with the issuance of too many private-non-intaglio cards. It seems to him that every Tom, Dick and Harry stamp and coin club is issuing cheaply produced, offset cards at prices similar to those charged by the BEP for their intaglio cards. He reasons that many card collectors get turned off by the hobby when they realize that most of these private cards have little or no market value. As a result, these collectors drop out and sales of official cards plummet. Poor sales of the 1984 SPMC card is blamed on this phenomenon. The editorial concludes with a re- quest that journals publicizing such non-intaglio cards should emphati- cally state that they are not intaglio cards. Ironically, on the page follow- ing this editorial is a half page ad for just such a private non-intaglio card. [Ironic? I stated that the card was "offset" printed, a description not included in the notice that accompanied the card. ed.] Although I do not agree with Gene completely on the above, he does make a good point. Let's face it, there is a plethora of souvenir cards be- ing issued today both official and unofficial. In recent years both the BEP and the USPS have increased their number of souvenir card issues largely at collector request. The 1984 souvenir card popularity poll in the winter issue of the Souvenir Card Journal mentions the fact that a number of responders felt that either the BEP should cut back or leave the number of cards issued the same. The addition of the proof cards, as popular as they are, places a financial burden on many collectors. Most collectors I have talked to do not want to see any further increases in the number of different souvenir card issues. Poor card sales are help- ing to rectify this situation. The BEP plans no increases in the number of souvenir cards offered. The USPS canceled their plans for a 1985 Na- tional Stamp Collecting Month Souvenir Card. The ANA will now issue their ABNCO printed cards only at the mid-year convention so as not to compete with the BEP cards sold at their main conventions. The SPMC claims to have stopped their card program because of poor sales. This may be true, but their marketing techniques were always tardy and in- adequate. The SPMC always made money on their cards— even on their last 1984 card. I suggest that the above are more accurate reasons why the card had poor sales. As one can see there may be too many official and semi-official cards issued as well as the private, non-intaglio issues. There is no doubt that this may turn off card collectors and contribute to decreased card sales. This problem is not unique to the souvenir card hobby. Both philately and numismatics have been plagued by unnecessary and excessive commemorative stamps, currency and coins for many years. By 1975. the same problem began to occur in the souvenir card hobby as well, with the multitude of private cards issued for the bicentennial. For that reason I stopped collecting private cards, for the most part, during that year. However, there are other factors which have resulted in our cur- rent slump to a greater extent than the excessive number of cards issued. In the early and mid 1970s, there were a lot of investors who bought up stamps, coins, paper money and souvenir cards in large amounts. When the recession popped up with high inflation rates, the bottom fell out of the market as investors unloaded their material. Ever since then, most collectors have tightened their belts and cut back on the amount of stamps, coins, and cards they buy. Everyone wonders about the possibility of another upcoming downturn in the economy. As a result, investors and collectors alike are sitting around—waiting to see what happens. Meanwhile the philatelic, numismatic and souvenir card hobby continue to suffer. However, I feel that there are already indica- tions that the souvenir card market is improving. This is illustrated by in- creasing prices for recently issued cards and proofs. With the large Inter- national Philatelic Exhibition Ameripex 1985 I think that souvenir card sales are going to improve remarkably as well as sales of stamps and other philatelic items. One last comment on Gene Hessler's editorial. I think most collectors who buy the privately issued souvenir cards realize that they are not in- taglio printed. I agree that most of these cards are a poor investment and many are illegal reproductions of security printing. Nevertheless, a number of the privately printed cards are nicely done and quite attrac- Page 79 tive. I frequently will purchase such a card if it pleases my eye, even though I do not try to keep up with all the private cards like I used to. What it all boils down to is that most collectors buy whatever appeals to them aesthetically. Whether it's a good investment or not is a secondary consideration for most card collectors. The souvenir card hobby is no different from philately or numismatics in that the collector buys what- ever he pleases. If that means purchasing a non-intaglio souvenir card that was privately issued, more power to him. I do not think the SCCS should ever put itself in the position of frowning on any segment of the hobby, whether it be official, semi-official or private. To do so would be reminiscent of the American Philatelic Society's efforts to "Black Blot" certain stamp issues. Such a position would, in effect, tell society members what to and what not to collect. In my view, the purpose of the SCCS is to promote all segments of the souvenir card hobby. With this in mind the SCCS has published articles in the Souvenir Card Journal on a regular basis on "Fore-runner", Error, BEP, USPS. ABNC, UNPA and foreign and private souvenir cards. With the help of more contributing authors, the SCCS will continue to promote all facets of the souvenir card hobby with articles in the Souvenir Card Journal. Curtis D. Radford, MD President Souvenir Card Collectors Society [At no time did I mention, nor did I imply, that investment was a con- sideration. My primary concern is that issuers and the press inform col- lectors as to the type of card that is offered. Inexperienced collectors need guidance. We need all the collectors that can be cultivated. ed.] BEP Card A souvenir card was issued for the ANA '86 Midwinter Conven- tion, February 19-23. This back design matches the face that ap- peared on the 1980 Memphis card, the $10 United States note dated 1901 with the image of an American bison. The ANA '86 card, No. 920, will be available at $4 from the Bureau for 90 days from the convention date or while supplies last. Orders should be addressed to the Bureau of Engraving and Printing, Mail Order Sales, Room 602-11A, 14th and C Streets S.W., Washington, D.C. 20228. ANA '86 NHOW INTER CONVENTION SALT LAKE CITY, UTAH The Bureau nt Engraving and Printing - s pleased lo issue me Souverie Card to commemorate aaleMal , hurnisreatic Association's Midwinte. Convention on 6epitiary 10- 23. 1986, ih Salt take City. Utah, Toe 'that 'natured here is the reverse of a Sertes 190 , 610 United Slates note, The cenhai design h,atures Ma allegorical vignette of "Progrese - In the lore, 01 a woman, positioned between two miortIn, forming an arch over hen 0033 The obverse of this note features a nottaic as the central design, and inerefore is best known as ise "Buffalo With the Of Lewis and Ciao, as part of the obverse oesign, it was ,ndouttediy ■ssued to Stimulate interest in the Lewis and C1ark Centennial Exposition ot 1905 United States miles are ins tsiss in order issued and now the oldest toe ot cuiTentY 6erne ,05000 by the Silted States Government. SURF iI CIFI Nt,ILA‘ IN( PION I ION, D Page 80 New Literature Thai Banknotes by Charles Stewart (posthumous); published by the author's wife, 20 Sathorn Road (North), Bangkok 10500, Thailand; 1985, 126 pp; softcover. Available from Mrs. V. Stewart at the above address for $10 including sur- face postage. There is a discount of 17% for 10 or more copies. Following a brief analysis of the history of paper money in Thailand from the issues under King Rama IV, A.D. 1853 until the inauguration of a bank note department under King Rama V on 19 September 1902, the twelve ensuing issues constitute the body of this attractive and well documented catalog. The pre- sentation of the contents—literary and graphic—make this an easy catalog to read; the text is in Thai and English. The quality of over 175 color illustrations is excellent. If only remotely interested in the subject, purchase of this inexpensive catalog is recommended. In the foreword, Vajari Stewart, wife of the author, states that Paper Money Whole No. 122 "the proceeds from this book will be donated to a foundation set up in the name of a dear, departed friend of Charles' and mine." (ed) Michael P. Vort-Roland, Australian bank note expert, has com- piled three books. The period covered by each is done in a com- prehensive fashion with many, large illustrations on high quality paper. Designers, printers, the number of notes printed and note varieties are listed in each, when known. Bank of Issue in Australia (1788-1914) has 331 pages and 313 illustrations. Australian Bank Notes (1913-1966) has 344 pages and 309 illustrations. Australian Decimal Bank Notes (1966-1985) has 240 pages and 270 illustrations. The cost of each book, in Australian dollars, is $29.50 and $23.50 for hardcover and soft-cover respectively. Postage for one book is $6.50 and $12 for two or three books. Orders may be sent to Michael P. Vort-Roland, 1 Neil Street, Mannum 5328, South Australia, Australia. (Jerry Remick) NEW MEMBERSHIP COORDINATOR NEW MEMBERS Ronald Horstman P.O. Box 6011 St. Louis, MO 63139 7070 Ira Friedberg, P.O. 1057, Clifton, NJ 07014; D. 7071 Robert Crites, 553 E. Palo Verde, Yuma, AZ 85365; C, Ariz. & other Western. 7072 F. Spinelli, Box 4WX, London, England WIA4WX; D, World notes. 7073 Jeff Bachmann, RR#1 Apt. 52 Green Acres, Rantoil, IL 61866; C, National bank notes. 7074 Robert Gould, 325 Pribilof Loop, Eagle River, AK 99577; C, Obsolete; national currency. 7075 Mansco Perry III, 380 Ramsey St. #3B, St. Paul, MN 55102; US currency. 7076 Charles Leber Jr.. 19 Concord Drive, New City, NY 10956; C, Errors & glass related currency. 7077 Tim Sear, PO Box 11069, Ft. Worth, TX 76109; C. 7078 Steve Porath, P.O. Box 1998, Chula Vista, CA 92012; C&D, US large & small. 7079 Alan Collopy, 15 Florence Ave Lawrence, MA 01841; C, US paper-design type. 7080 Mariano Cuba, 8823 Old Harford Rd., Baltimore, MD 21234. 7081 Richard Grunniger, 1108 McBride Ave., West Patterson, NJ 07454; C. 7082 Joseph Duncan, 2853 Eagleville Rd., Audubon, PA 19403; C. 7083 Lionel Conn, Box 885D Stn. F, Calgary Ab. Canada T2J5S5; Specimens. 7084 Richard Markley, P.O. Box 595, Skippack, PA 19474; C&D, PA notes & stocks. 7085 Frank Kengel, 40849 Roman Plank, MI 48043; D. 7086 Herbert Glover, 15 Stressberg Court, Ham. Sq., NJ 08690; C, Federal Reserve notes. 7087 Setsuo Suetsugu, P.O. Box 21, Ofunda 247 Japan; D, Chinese banknotes & world. 7088 George Daru, 38 N. Walnut St Wilkes Barre, PA 18702; C, Baltic States-WWII Military. 7089 Doug Holl, P.O. Box 234, Annandale, VA 22003; C&D, Souvenir cards. 7090 Rafael Davin, P.O. Box 6115, McAllen, TX 78502; C, Foreign. 7091 Keith Lemkelde, 750 Farm Brooklane, York, PA 17402; C. 7092 Vito lacovone, PO Box 239, Bronx, NY 10465; C, US currency. 7093 Charles Beavers, 14069 Melva, Warren, MI 48093; C, Type & world wide. 7094 James Vander Helm, Rt. 3 Box 185A, Akron, IA 51001; C&D, Small-size nationals. 7095 Joseph Piento, 7245 W. Greenleaf, Niles, IL 60648; C, Oversize & current. 7096 Roger Poffenbarger, 1195 Tome Hwy., Port Deposit, MD 21904; C&D. 7097 Peter Leventhal, Union College Box 971, Schenectady, NY 12308; C, Legal tender notes. 7098 Coleman Leifer, 10201 Grosvenor Pl. #903, Rockville, MD 20852; C, Obsolete currency. 7099 Charles Molek, 770 Leisuretown Rd., Vacaville, CA 95688; C, World bank notes. 7100 Michael H. Schoene, Platz d. Freiheit 10, DDR-8312 HEIDENAU; C, Allied Mil Curr., all WW II incl./emergency. 7101 Donald Lutz, Box 338, Egypt Rd., Oaks, PA 19456. 7102 Phillip Elam, 16 Central Ave, Winchester, KY 40391. 7103 Philip Kominos, c/o Independent Coin Evaluators, PO Box 110, Huntington Station, NY 11746; C&D, Student of paper money. 7104 Mike Bowers, Box 185, Warminster, PA 18974; C, Rare & inter- national. 7105 Mike Schultz, 730 Riverside Drive, Johnson City, NY 13790; C, Large-size US. 7106 Keith Simms, 32 Mt. Hope St., North Attleboro, MA 02760; C, Colonial, large-size. 7107 Rich Brinton, Box 922, Union, NJ 07083; C, Obsolete Sheets. 7108 Norman Vadala, 208 E. Jefferson, Syracuse, NY 13202; D. 7109 Larry Cramer, 21 Gulfline Rd., Liverpool, NY 13090; D, Foreign. 7110 Harold Proudfoot, Jr., RFD 1-179 Whisconier Rd., Brookfield Center, CT 06805. 7111 Henry McCarl, Dept. of Economics/UAB, Birmingham, AL 35294; C, Colonial, Continental, Southern States, CSA, obso- letes and CSA counterfeits. 7112 Harry Russell, 28 Harriet Ave., Ilion, NY 13357; C&D. 7113 Kenneth Forbes, 9813 Monogram, Sepulveda, CA 91343; C. 7114 Walter Kopp, 1716 S Troost, Tulsa, OK 74120; C&D, Stocks, bonds & checks. 7115 Tom Elliott, Rt. 1 Box 268, Ocean City, MD 21842; Silver Cer- tificates. 7116 Jeff Spector, 435 S. Lafayette Pk. Pl. #116, Los Angeles, CA 90057; C, US large-size. 7117 Florence Ritenhouse, 460 Spring Ave., Ridgewood, NJ 07450. 7118 John Cundy, PO Box 114, Cimarron, KS 67835. 7119 Robert Magee, 8753 Crescent, Kansas City, MO 64138; C, Confederate currency. Paper Money Whole No. 122 Page 81 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, Mercantile Money Museum, Box 524, St. Louis, MO 63166 by the first of the month preceding the month of issue (i.e. Dec. 1, 1986 for Jan. 1987 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) WANTED: ILLINOIS NATIONALS AND OBSOLETES - Carmi, Crossville, Enfield, Grayville, Norris City, Fairfield, Al- bion, Dahlgren, Omaha, New Haven. Pete Fulkerson, c/o The National Bank, 116 W. Main, Carmi, IL 62821 (127) 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 Marlborough St., Boston, MA 02116 (128) 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) 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. (124) 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) BUYING ALABAMA MATERIAL: NATIONALS, OBSO- LETES, checks, stocks, cards, North Alabama, Florence, Hunts- ville. Write Bob Whitten, 217 E. Irvine Ave., Florence, AL 35630 (125) 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 (126) WANTED VIRGINIA: Nationals, Broken Bank and Scrip. Send description. Corbett B. Davis, 2604 Westhampton SW, Roanoke, VA 24015. (1 8) MISSISSIPPI NATIONALS WANTED: All notes wanted, large or small. Will consider trade offers. Describe and price. All inquiries answered. Don Rawson, Box 3418, Meridian, MS 39305 (122) WANTED, ALL OBSOLETE CURRENCY, ESPECIALLY GEORGIA, which I collect. Particularly want any city-county issues, Atlanta Bank, Georgia RR Banking, Bank of Darien, Pigeon Roost Mining, Monroe RR Banking, Bank of Hawkins- ville , La Grange Bank, Central Bank Milledgeville, Ruckersville Banking Co., Bank of St. Marys, Cotton Planters Bank, any private scrip. I will sell duplicates. Claud Murphy, Jr., Box 15091, Atlanta, GA 30333. (125) NORTH CAROLINA OBSOLETE CURRENCY AND SCRIP WANTED. Send description, photocopy if possible and price. Interested in single notes or accumulations. Jim Sazama, P.O. Box 1235, Southern Pines, NC 28387 (127) WANTED: WHITE PLAINS, CHAPPAQUA, MOUNT KISCO, SOMERS, NEW YORK NATIONALS. All other Westchester, Putnam Counties large, small, obsolete wanted. Send photocopy or description, price. Christian Blom, 2504 N. Quantico St., Arlington, VA 22207 (122) NEW EGYPT, NEW JERSEY (#13910 & 8254) Nationals wanted. Any condition. Please write first. Dennis Tilghman, P.O. Box 2254, Princeton, NJ 08540 (128) ICELAND, ICELAND. BUYING PAPER MONEY FROM ICELAND: P-1 to P-21, P-23 to P-26, P-30 and P-31. I collect them by signature variety. If you have any of these notes for sale, please send me some price lists and photocopies. K. Hall- clOrsson, Box 433, Hafnarfjordur, Iceland. (126) PRE-1900 WESTERN STATES and Territorial financial documents-buying and selling checks, drafts, certificates of deposit, warrants, receipts, stocks, bonds and revenue im- printed fiscal material. Vern Potter, P.O. Box 10040, Torrance, CA 90505-0740. (122) FOR SALE: CONFEDERATE CURRENCY. Part of 20 year collection, many scarce varieties. Send SASE for listing. Michael Wheat, 158 Buford Place, Macon, GA 31204. (123) EASTMAN COLLEGE CURRENCY wanted. Also obsoletes with vignettes: Declaration Signing, Washington's Crossing, Drummer Boy, Five Presidents, Cowboys, Delaware Bridge, Matrimony. Robert W. Ross III, P.O. Box 765, Wilmington, DE 19899. (125) MARSHALL, MISSOURI WANTED: First National Bank, Charter 2884. Notes, checks, photocopies, other information. Mike Coltrane, 1009 Burrage Rd., Concord, NC 28025 (123) MINNESOTA NATIONALS WANTED: Barnum, Big Lake, Braham, Carlton, Crosby, Deerwood, Elk River, Foley, Iron- ton, Isanti, Milaca, Moose Lake, Mora, Pine City, Princeton. Royalton, Swanville. Several others needed. Please let me know of anything you have for sale. All letters answered. Shawn Hewitt, 3900 Bethel Dr., Box 938, Saint Paul, MN 55112 (123) WANTED UNCIRCULATED 1963, 1963A, 1969, 1974 $1 FRN block sets. Also need lot of notes with two or more zero endings. Pay cash or trade. Rufus Coker, R. #6, Portland, TN 37148 (124) WISCONSIN CURRENCY WANTED: Nationals, obsolete notes, bonds and bank checks from Eau Claire and Chippewa Falls. Send description and price to William Janke, 1371 W. 12th St., Hastings, MN 55033. (123) Page 82 LOW NUMBER NOTES WANTED: Salisbury, Pocomoke City, Snow Hill, Easton, Cambridge, Federalsburg, Chester- town, Berlin, other eastern shore; large or small. Describe and price. Also southern Delaware and eastern shore Virginia (Onancock, Accomac, etc.). Robert Hastings, 9234 Prarie Ave., Highland, IN 46322 (122) RHODE ISLAND OBSOLETES, COLONIALS, CHECKS, BANK POSTCARDS, SCRIP and BOOKS wanted by serious collector. Duplicates also needed. Describe and price, all conditions considered. Roland Rivet, Box 7242, Cumberland, RI 02864. (131) NATIONAL CURRENCY, OVER 600 DIFFERENT, almost all states, 39' SASE brings list. Also buying & trading. Joe Apellman, Box 283, Covington, LA 70434. (123) CHICAGO NATIONALS Wanted by collector. Large and small. Let me know what you have. Thanks. Tim Kyzivat, P.O. Box 803, LaGrange, IL 60525. (123) ERROR NOTES: Specialist buying and selling misprints on US paper money ranging from double denominations thru ink smears. SPMC members may request next photo-illustrated sales catalogue free. Frederick J. Bart, Box 32314, Cleveland, Ohio 44132, (216) 585-3644 (125) WANTED: Conwayboro, SC nationals (Peoples National; Con- way National; 1st National), SC related material, obsoletes, co- lonial, Confederate. Dr. Frank A. Sanders, P.O. Box 854, Con- way, SC 29526, (803) 248-4834 (123) WANTED: COLONIAL GEORGIA. Will pay $400 for 1776 Blue-Green Seal $4 or 1777 No resolution date $4. Also want most pre-1776 issues. Radford Stearns, 5400 Lawrenceville Hwy., Lilburn, GA 30247, (404) 921-6607. (132) DEVILS LAKE, NORTH DAKOTA NATIONALS WANTED: Charters 3397, 3714, 5866. Any type, condition. Send description and price to Richard Dockter, 1112 2nd Ave. E., Devils Lake, ND 58301. (126) YOUR CHOICE OF SAMPLE ITEM WITH SPECIALIZED price list for $1. List available: Military Payment Certificates— World War II—Japanese Invasion Money—Philippine Guerrilla Currency—German Notgeld —Japanese Paper—Vietnam Propaganda Leaflets—World Bank Notes—U.S. Currency- Stocks—Stamps (Plate Blocks or First Day Covers). Edward B. Hoffman, P.O. Box 10791-S, Reno, NV 89510-0791. (126) SOUTHERN ILLINOIS NATIONALS WANTED: Bridge- port, Carrier Mills, Carterville, Crossville, Dongola, Equality, Rarmersville, Flora, Grand Tower, Greenfield, Griggsville, Humbolt, Jonesboro, McLeansboro, Mound City, Pana, Ram- sey, Ridgway, St. Peter, Salem, Trenton, Waltonville, Wayne City, West Salem, Wilsonville, Witt, Xenia, Robert L. Ballard, 716 Loughborough Ave., St. Louis, MO 63111. (122) WILL BUY OR TRADE for the following prototype or trial face notes. Face check 86: $10 SC 1934A, BA; star; mule; North Africa star. Also $10 1934A face check 87, mule. Good trade selection. Michael Kane, Box 745, Pacific Grove, CA 93950. (124) WANTED: NEW ENGLAND COMMERCIAL BANK NEWPORT, RI notes (Durand Nrs. 607, 609, 610, 612-617, 619, 620, 622-624, 626, 628, 630, 631, 635, 637, 639). Also checks, fiscal documents, correspondence, etc. relating to bank officers. Send photocopy/description and price. Bruce D. McLean, P.O. Box 38, FPO New York, 09525-1038. (124) DISTINCTIVE DOCUMENTS is selling historical western documents, stock certificates, autographs, checks, financial paper and more! Three illustrated catalogs $2. Members of 13 collecting and historical organizations. Box 100, Cedar City, UT 84720. (126) Paper Money Whole No. 122 KALAMAZOO, MICHIGAN NATIONALS WANTED, also want nationals from Palestine, Texas, Illinois, Ohio, etc. Want CU Kuwait 1960 regular issue and specimen notes. Jack H. Fisher, Howard Professional Building - Suite AA, 750 Howard Street, Kalamazoo, MI 49008. (128) WANTED: OHIO NATIONALS. I need your help. Send list you would sell to: Lowell Yoder, P.O. Box 444, Holland, OH 43528 or call 419-865-5115 (132)) MISSOURI NATIONALS WANTED. Both large and small, also obsoletes. Can find a few duplicates to trade. Forrest Meadows, Route 1, Box 176, Bethany, MO 64424, call 816-425-6054. (131) CHECK COLLECTION FOR SALE. 200 different railroad checks & drafts c. 1910, $125 postpaid. Also 200 steamboat, oil, manufacturers, etc., checks & drafts c. 1910, $125. Bob Yanosey, 11 Sussex Ct., Edison, NJ 08820. (132) WANTED: CU $1 FRNs with serials 00000055; 00066666; 77777777; 00088888; 00009999; 00099999; 09999999; 99999999. Please describe and price. James E. Lund, 2805 County Rd. 82, Alexandria, MN 56308. (125) CLEARING OUT SOUVENIR CARDS, Obsolete bonds and stock certificates below market. Frank Sprinkle, 304 Barbee Blvd., Yaupon Beach, NC 28461. LITERATURE WANTED: I am purchasing PAPER MONEY back issues, bank histories, auction catalogs, books and periodicals. Michael Sullivan, Box 461, Winnetka, IL 60093. LARGE BEAUTIFUL LOT OF 300 United States revenue certificates dated between 1873 and 1885. Best offer. Frank Sprinkle, 304 Barbee Blvd., Yaupon Beach, NC 28461. BUYING SOUTH CAROLINA DEPRESSION SCRIP that I lack. Have duplicates, $1 each. Frank Sprinkle, 304 Barbee Blvd., Yaupon Beach, NC 28461. WANTED: All types of military currency, military medals and military metal collar insignia. Charles Otte, 716 Santa Maria Dr., Quincy, IL 62301. (123) WANTED: Cochranton, PA obsoletes. Hoober #70-1 through #70-4. Bob Nagel, 730 Royal Cresent Drive, Richmond, VA 23236. MARYLAND: Small accumulation of Old Checks, Obsolete Notes and Stock Certificates at Bargain prices. Frank Sprinkle, 304 Barbee Blvd., Yaupon Beach, NC 28461. INDIAN & OKLAHOMA TERR. checks, LSSAE for list. Also list of old checks from many states, send LSSAE with 39 cents postage. Buying stocks, bonds, etc., ask for want list. Walter Kopp, 1716 S. Troost, Tulsa, OK 74120. CLEARING OUT LARGE COLLECTION of New York, Del- aware and California stock certificates, Frank Sprinkle, 304 Bar- bee Blvd., Yaupon Beach, NC 28461. Read Money Mart $500 CSA counterfei Ball offers Have Pensacola mayors sig1,8s:1 11, pope 26 Smith's Chinese notes CEP achieves record now production sell well in HOO9 Kong Paper Money Whole No. 122 Page 83 Hero 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 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 $14.50 for one year (12 issues) to: Bank Note Reporter, 700 E. State St., Iola, WI 54990. Page 84 Paper Money Whole No. 122 CONTINENTALS TO NATIONALS ITEM NUMBER DESCRIPTION PRICE 1. Continental Currency $4 note 5/10/1775 VF 53.00 2. Continental Currency $1 note 2/17/1776 VF 45.00 3. Continental Currency $5 note 11/2/1776 VF 35.00 4. Continental Currency $8 note 11/2/1776 VF 58.00 5. Continental Currency $40 note 4/11/1778 VF 195.00 6. Colonial Currency $10 note N. Caro. 4/8/1778 VG 75.00 7. Colonial Currency $250 note N. Caro. 5/10/1780 VF 150.00 8. Fractional Currency - Fr. #1233 AU 35.00 9. Fractional Currency - Fr. #1243 CU 145.00 10. Fractional Currency - Fr. #1252 CU 95.00 11. Fractional Currency - Fr. #1266 CU 25.00 12. Fractional Currency - Fr. #1317 AU 70.00 13. Fractional Currency - Fr. #1339 CU 110.00 14. Fractional Currency - Fr. #1376 CU 120.00 15. Legal Tender - Fr. #30 CU 125.00 16. Legal Tender - Fr. #122 AU + 380.00 17. Silver Cert. - Fr. #226A CU 60.00 18. Silver Cert. - Fr. #237 or #238 each CU 25.00 19. Silver Cert. - Fr. #268 Fine 135.00 20. Silver Cert. - Fr. #281 VF 95.00 21. FRBN - Fr. #740 VF + 35.00 22. FRBN - Fr. #752 CU 275.00 23. FRBN - Fr. #838 AU + 80.00 24. FRBN - Fr. #1004 AU 55.00 25. FRBN - Fr. #1035 VF 75.00 26. Gold Note - Fr. #1173 AU 90.00 27. Gold Note - Fr. #1200 AU 300.00 28. National - Fr. #598 Wilmington, Delaware #1420 F 235.00 29. National - Fr. #552 Washington, D.C. #5046 F 145.00 30. National - Fr. #650 Brookville, Indiana #7805 XF 150.00 31. National - Fr. #383 Emporia, Kansas #1915 VG 135.00 32. National - Fr. #487 Louisville, Ky. #4956 F + 165.00 33. National - Fr. #628 Saginaw, Mich. #1918 VF + 75.00 34. National - Fr. #633 Hartington, Neb. #5400 AU 225.00 35. National - Fr. #639 Camden, N.J. #431 F 175.00 36. National - Fr. #587 New York City #1370 CU 415.00 37. National - Fr. #627 Winston, N.C. #4292 VF 150.00 38. National - Fr. #578 Shawnee, Okla. #5115 VF + 725.00 39. National - Fr. #650 Spring Grove, Pa. #6536 VF + 245.00 40. National - Fr. #624 Providence, R.I. #1007 AU 150.00 41. National - Fr. #618 Greenwood, S.C. #7027 Fine 145.00 42. National - Fr. #682 San Antonio, Texas 5217 XF 375.00 43. National - Fr. #627 Burlington, Vermont #1698 XF 160.00 44. National - Fr. #600 Emporia, Virginia #8688 VG 210.00 45. National - Fr. #659 Harrisburg, Va. #11694 AU + 185.00 46. National - 1929 $5 I Chester, S.C. #10663 CU 120.00 47. National - 1929 $5 1 Elkins, West Va. #12483 VG 145.00 48. National - 1929 $10 1 Hillsboro, Texas #4900 Fine 60.00 49. National - 1929 $20 1 Grand Forks, N.D. #2570 VF + 80.00 50. National - 1929 $100 1 Memphis, Tenn. #13349 CU 150.00 All notes very conservatively graded, satisfaction guaranteed! I would be very interested in knowing what you have for sale, nearly 30 years in paper money gives me a true appreciation of notes. I would gladly ac- cept and try to help with your current want list. Thanks as always! JAMES A. SPARKS, JR. POST OFFICE BOX 4235 ANA-52964, SPMC-3144 SALISBURY, N.C. 28144 Paper Money Whole No. 122 Page 85 WANTED Tiffany "Commission Scrip" Any State or Canada Large Size—Pay $35 Each Fractional Size—Pay $25 Each Duplicates Accepted Paints, Oils, Va: ',Lott .0 6.- ZIRCON SOAP CO tEV:97 ItelnItl.aisonsay U.S. Currency "Look Alike" Advertisers Large Size—Pay $10 Each Fractional Notes—Pay $20 Each Duplicates Accepted Larger quantities of duplicates subject to possible purchase limitations FALATER Box 81, Allen, MI 49227 Life Member: ANA 307, SPMC, PMCM numismatic neWS cc« Nunn Chet Krause Few, if any, have had a greater impact on coin collecting than Chet Krause, founder of Numismatic News and president of Krause Publications. Through his tireless support of the hobby and his nurturing of Numismatic News, Chet continues to amplify and spread the joys of collecting. Home Of Superior Hobby Periodicals And Books krause publications 700 E. State St., Iola, WI 54990 Page 86 Paper Money Whole No. 122 BUYING and SELLING PAPER MONEY U.S., All types Thousands of Nationals, Large and Small, Silver Certificates, U.S. Notes, Gold Cer- tificates, Treasury Notes, Federal Reserve Notes, Fractional, Continental, Colonial, Obsoletes, Depression Scrip, Checks, Stocks, etc. Foreign Notes from over 250 Countries Paper Money Books and Supplies Send us your Want List ... or ... Ship your material for a fair offer LOWELL C. HORWEDEL P.O. BOX 2395 WEST LAFAYETTE, IN 47906 SPMC #2907 ANA LM #1503 Working For The Hobby EARLY AMERICAN NUMISMATICS *619-273-3566 We maintain the LARGEST ▪ ate COLONIAL & CONTINENTAL CURRENCY ACTIVE INVENTORY IN THE WORLD! SEND US YOUR WANT LISTS. FREE PRICE LISTS AVAILABLE. SPECIALIZING IN: q Colonial Coins q Colonial Currency q Rare & Choice Type Coins q Pre-1800 Fiscal Paper q Encased Postage Stamps SERVICES: q Portfolio Development q Major Show Coverage q Auction Attendance EARLY AMERICAN NUMISMATICS q c/o Dana Linett 1=1 P.O. Box 2442 1=1 LaJolla, CA 92038 q 619-273-3566 Members: Life ANA, CSNA-EAC, SPMC, FUN, ANACS CANADIAN BOUGHT AND SOLD • CHARTERED BANKNOTES. • DOMINION OF CANADA. • BANK OF CANADA. • CHEQUES, SCRIP, BONDS & BOOKS. FREE PRICE LIST CHARLES D. MOORE P.O. BOX 4816P WALNUT CREEK, CA 94596-0816 (415) 943-6001 LIFE MEMBER A.N.A.#1995 C.N.A. #143 C.P.M.S. #11 .,“.txxos!) n:9;a3. THE BANKOF LOUIS ST. LOUIS, MISSOURI OBSOLETES AND NATIONALS WANTED RONALD HORSTMAN ROUTE 2, BOX 242 GERALD, MISSOURI 63037 St. 1.toti is Na I if . oralzsmium„.14 .4) • swoon' cootog ('NITER STATES, PtPER .NI()SEA • rtese.ed Re.res F Mail with payment to Krause Publications < • 700 E. State St., Iola, WI 54990 • • • • • • • • • • • • • • • • • • • • • exp. date: mo . yr signature • • • • • • • • • • • • Paper Money Whole No. 122 Page 87 New Edition Available Standard Catalog Of United States Paper Money Your complete, illustrated guide to all types of official U.S. paper money, from 1812 to today. •Featuring coverage for Large and Small-size regular-issue U.S. currency •NEW! Rarity ratings for National Bank Note listing • Complete coverage for Fractional Currency, Encased Postage Stamps, Postage Stamp Envelopes, Error Notes and Military Payment Certificates • First-ever catalog of pre-Civil War United States Treasury Notes • More than 5,000 currency items listed • Over 12,500 market values • Over 700 original photos • All in 192 pages An essential, data-packed research aid for all collectors of U.S. currency! Order your copy today. krause publications 700 E. State St., Iola, WI 54990 • • • • • • • • • • • • • • • $16.0 Plus postage and handling Fourth Edition Order Now Credit Card Customers Call Toll-Free: 1-800-258-0929 From 8 AM to 5 PM, CST Ten-Day Return Privilege. If not completely satisfied send your catalog back to us within ten days and receive a full refund. • • • • • • • • • • • • • • • • Standard Catalog of United Please send copy(ies) of the new Standard Catalog of United States Paper Money. I've enclosed $16.50* per copy, plus $2.00 per copy for postage and handling. ( ) Check enclosed (to Krause Pub- lications) ( ) MasterCard/Visa acct. no. •• • • • • • • • • • • • • • States Paper Money name address city state zip Note: Addresses outside the U.S., please send $4.00 per copy for postage and handling. U.S. funds only. •Wisconsin residents add 5% sales tax. • • • • • • • •• • • • WANTED FOR MY COLLECTION WORLD WIDE TRAVELERS CHECKS SPECIMENS, PROOFS OR CANCELLED ISSUES If you have anything to offer Please keep me in mind as I actively seek these for my collection. I also have duplicates to sell or trade. GARY SNOVER P.O. BOX 3034 • SAN BERNARDINO, CALIF. 92413 PHONE (714) 883-5849 TRAY 1 CNEai t Teak - VII TOCEs SPECIMEN RA000000 RA000000 &COOK & S 'LIMITED PE CI MEN Page 88 Paper Money Whole No. 122 Nobody pays more than Huntoon for Amon & WYOMING State and Territorial Nationals WANT ALL SERIES, ANY CONDI- TION, EXCEPT WASHED OR "DOC- TORED" NOTES. (MANY TRADES!) PETER HUNTOON P.O. Box 3681, Laramie. WY 82071 THE DESCRIPTIVE REGISTER OF GENUINE BANK NOTES by Gwynne & Day 1862. 168 pp Cloth bound. 1977 reprint $15.00 post paid. HODGES' AMERICAN BANK NOTE SAFE-GUARD by Ed- ward M. Hodges 1865. 350 pp Cloth bound. 1977 reprint $19.50 post paid. J. Roy Pennell, Jr. P.O. Box 858 Anderson, S.C. 29622 OREGON PAPER MONEY EXCHANGE 00{TLAsi ) i t t ;81yEss coLum, 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) COINS OF THE REALM, INC. (74,4o.rofr;TwcArifkormAK • PQ.V.ELRNIYIAAT' -V17,-&3704.1X Dealers in choice world bank notes 1327-D Rockville Pike Rockville, Maryland 20852 Phone (301) 340-1640 Paper Money Whole No. 122 Page 89 Are you a collector of Iranian (Persian) bank notes? I am a private collector and would be very much interested in communicating with you to share information and to provide lit- erature. And, if you have or need any notes or specimens, even early and rare Iranian notes, I would be delighted to hear from you. Dr. A. Sharghi 2500 Olivia Ct. Virginia Beach, VA 23454 804-481.6955 United States Paper Money Small- Size by Block Series 1928 thru 1985, Large-Size Notes, Small-Size Errors. Free List. Write: Robert Thiel P.O. Box 163 Victor, NY 14564 FOR SALE CURRENCY FOR SALE U.S.A. LARGE & SMALL-SIZE CURRENCY Including: Nationals, Obsolete, Fractionals, Colonials, "Radars" & "Fancy" Serial Number Notes, & Others. ROBERT A. CONDO S. P.M.C.-2153 P.O. Box 985 A.N.A.-LM-813 P.M.C.M.-342 Venice, FL 34284.0985 M.S.N.S.-LM-61 (813) 484.4468 Large Mail List available for a large-size self-addressed, stamped, envelope. 30-Day Return Privilege — Your Satisfaction Guaranteed BUYING / SELLING* OBSOLETE CURRENCY, NATIONALSUNCUT SHEETS, PROOFS, SCRIP BARRY WEXLER, Pres. Member: SPMC, ANA, FUN, GENA, CCRT (914) 352.9077 IN C . P.O. BOX 84 • NANUET, N.Y 10954 WANTED OBSOLETE PAPER MONEY (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 j j Ffor advantageous trade. FORD, JR. P.O. DRAWER 706, ROCKVILLE CENTRE, N.Y. 11571. a 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 British Colonial — European Colonial of the 19th and early 20th century our speciality. We particularly require proof and specimen albums of i'reiftlETNEVYAL 4 ABNCo. and the various British printers. WILLIAM L.S. BARRETT Box 9, Victoria Station Montreal, Canada H3Z 2V4 Telephone (514) 844-5698 Page 90 Paper Money Whole No. 122 PENNSYLVANIA 1837 LYKENS VALLEY COAL COMPANY $125.00 Black/White Capital Stock certificate with several attractive vignettes by Underwood Bald Spencer & Hufty. One of the very earliest mining stocks available on the collectors market. Pen-cancelled, light folds, VF + . Our current inventory includes over 70 PENNSYL- VANIA stocks and bonds, representing every segment of American business, from railroads and mines to banks and pioneering oil exploration companies. Call or write today and ask for our PENNSYLVANIA listing, or for our general catalogue of more than 150 stocks and bonds. CENTENNIAL DOCUMENTS 1-21 28th Street - Fair Lawn, NJ 07410 (201) 791-1683 IAN A. MARSHALL Box 5865 Stn. A Toronto, Ont. M5W 1P5 Canada WORLD PAPER MONEY Also World Stocks, Bonds and Cheques 416-927-1812 Paper Money Whole No. 122 Page 91 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 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! v • J: ik , For more information, contact EgiEViA Cbeclt Collettor5 lk °nit Table iq,0%ge Charles Kemp, Secretary V481 Morse #70 • Troy Michigan 48084 MEMPHIS EXHIBITORS contact Martin Delger 323 Dawnlee Ave. Kalamazoo, MI 49002 before May 1, 1986 KAGIN'S Numismatic Auctions, Inc. will conduct the 1986 ANA Auction to be held August 5-9, 1986 in Milwaukee, Wisconsin The ANA auction is the largest, most widely attended auction of the year. Make your collection a part of this prestigious event by contacting one of the numismatic professionals at Kagins. CONSIGNMENT DEADLINE MAY 2, 1986 DALE WILLIAMS, Vice President, Director of Auctions Dr. GEORGE FULD, Senior Numismatist or Donald H. Kagin, Ph.D. at: 800 227-5676 In California 800 652-4467 Or call A.M. Kagin, Chairman of the Board 1-515-243-7363 KAGINS • 1388 Sutter • Suite 700 • San Francisco, California 94109 °1// "%e* PrIOFE S S Doith. riuM ISM R1Isis %uu.oINC Page 92 Paper Money Whole No. 122 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. 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. Pic-if:flan - Oakes Auctions , Purveyors of National Bank Notes & U.S. Currency to the collecting fraternity for over 20 years: Hickman - Oakes Auctions ,Inc. Dean Oakes John Hickman Drawer 1456 jowa Ceti, Iowa 52240 319-338-1144 ith 29 sales behind us, we look forward to a great 1986 for all currency collectors as well as our Sealed mail bid and floor auctions. We have in 1985 had the pleasure of selling several great notes and some very rare notes. Prices for these ran from over $15,000 to over $30,000. Currency collecting is alive and well. If you have doubts just check over our last two catalogs. You will find the pulse of the market represented there. Our next two auctions are scheduled for March and June of 1986. Consignments are being solicited Now Join others in experiencing the true market between buyer and seller at a Hickman-Oakes auction. Write or call 319-338-1144 today! As a seller: Our commission rate is 15% and down to 5% (depending on value of the lot) with no lot charge, no photo charge, in fact no other charges. As a buyer: When bidding and winning lots in our auctions you are charged a 5% buyers fee. As a subscriber you receive at least 4 auction catalogs and prices realized after the sale, plus any price lists we put out, and all by 1st class mail. If you send us $8 now, we will send you the 1600 lot auction catalog from Cherry Hill, our 29th sale, and prices realized, the upcoming 30th and 31st catalogs plus at least one price list of currency. Send $8.00 now, you won't be sorry. 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 ect.Ccut'q RARE COINS and CURRENCY (BESIDE THE ALAMO) 220 ALAMO PLAZA SAN ANTONIO, TEXAS 78205 (512) 226-2311