Paper Money - Vol. XXXIV, No. 1 - Whole No. 175 - January - February 1995

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1111 VOL. XXXIV No. 1 WHOLE No. 175 JAN/FEB 1995 JUAN RODRIGUEZ CABRILLO We Buy, Sell & Auction The Very Best In Paper Money, Stocks & Bonds, Coins & Autographs StIAMOK1 HAMO • TifISCEUTIVIC.STIMT E 01,11.111,11 plVASIIICV ee- 1328580 661. ES' 'AMERICI ■aer-arnsa ********************7:*****-44***-A****- Accepting Consignments Now for Major Public and Mail Bid Auctions in 1994 & 1995. Call or write for further information. **************************************** R.M.SMYT- HE Send for our latest fixed price list of stocks and bonds. 26 Broadway Suite 271 New York, NY 10004-1701 11:E4M,1131.1141101110 11-4,4S00 TOLL FREE 800-622-1880 NY 212-943-1880 FAX: 212-908-4047 A:MN* MEMBER -- soyr1 OD1,1111,10,” S( )Cl ET Y OF PAPER A cot .i.EcToRs I NC Paper Money Whole No. 175 Page 1 11 Official Bimonthly Publication of The Society of Paper Money Collectors, Inc. PAPER MONEY is published every other month beginning in January by The Society of Paper Money Collectors. Second class postage paid at Dover, DE 19901. Postmaster send address changes to: Bob Cochran, Secretary, P.O. Box 1085, Florissant, MO 63031. © Society of Paper Money Collectors, Inc., 1995. All rights reserved. Reproduction of any article, in whole or in part, without ex- press written permission, is prohibited. Individual copies of this issue of PAPER MONEY are available from the Secretary for $2.75 each plus $1 postage. Five or more copies are sent postage free. ADVERTISING RATES SPACE 1 TIME 3 TIMES 6 TIMES Outside Back Cover $152 $420 $825 Inside Front & Back Cover $145 $405 $798 Full Page $140 $395 $775 Half-page $75 $200 $390 Quarter-page $38 $105 $198 Eighth-page $20 $55 $105 To keep rates at a minimum, advertising must be prepaid in advance according to the above sched- ule. In exceptional cases where special artwork or extra typing are required, the advertiser will be no- tified and billed extra for them accordingly. Rates are not commissionable. Proofs are not supplied. Deadline: Copy must be in the editorial office no later than the 1st of the month preceding issue (e.g., Feb. 1 for March/April issue). With advance notice, camera-ready copy will be accepted up to three weeks later. Mechanical Requirements: Full page 42-57 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 cur- rency and allied numismatic material and publi- cations and accessories related thereto. SPMC does not guarantee advertisements but accepts copy in good faith, reserving the right to reject objection- able material or edit any copy. SPMC assumes no financial responsibility for typographical errors in advertisements, but agrees to reprint that portion of an advertisement in which typographical error should occur upon prompt notification of such error. All advertising copy and correspondence should be sent to the Editor. Vol. XXXIV No. 1 Whole No. 175 JAN/FEB 1995 ISSN 0031-1162 GENE HESSLER, Editor, P.O. Box 8147, St. Louis, MO 63156 Manuscripts (mss), not under consideration elsewhere, and publications for review should be sent to the Editor. Accepted 711S5 will be published as soon as possible; however, publication in a specific issue cannot be guaranteed. Opinions expressed by authors do not necessarily reflect those of the SPMC. Mss are to be typed on one side only, double-spaced with at least one-inch margins. A copy should be retained by the author. The author's name, ad- dress and telephone number should appear on the first page. In addition, you may also submit a copy on a 31/4 or 5'/4 inch MS DOS disk, identified with the name and version of software used: Microsoft Word, Word Perfect or text (ASCII) are preferred. Avoid unnecessary carriage returns, spaces, tabs and formatting. Avoid tabs or extra lines to begin paragraphs, and in tables use only one tab per column. If disk is submitted, double-spaced printout must accompany disk. IN THIS ISSUE QUASI-GOVERNMENT CHECKS Forrest W. Daniels 3 THE BANKER'S WORLD'S FAIR NATIONAL BANK OF ST. LOUIS, A Sequel Dave Grant 6 COPIES OF THE TYPE 19 CONFEDERATE NOTE: COUNTERFEITS OR FACSIMII,ES? Brent Hughes 10 PRINTING IMPRESSIONS INTENDED FOR HEATH'S INFALLIBLE COUNTERFEIT DETECTOR Gene Hessler 15 WISMER CATALOG STATUS Steve Whitfield 17 THE TYPE OR VARIETY DILEMMA FOR COLLECTORS AND CATALOGERS Steve Whitfield 19 MY SUMMER VACATION: A VISIT TO THE HIGGINS MUSEUM Bob Cochran 22 COMPOUND INTEREST TREASURY NOTES WITH THE INCORRECT DATE: A SECOND LOOK Gene Hessler 24 THE BUCK STARTS HERE Gene Hessler 25 SMALL-SIZE NATIONAL BANK NOTE SURFACES Bob Andrews 26 CATALOG OF ENVELOPED POSTAGE Milton R. Friedberg 27 SOCIETY FEATURES NOTES FROM ALL OVER 29 SPMC MEMBERS HONORED BY ANS 29 FROM THE SECRETARY'S MAILBAG 30 NEW MEMBERS 30 MONEY MART 31 ON THE COVER. This portrait of Juan Rodriguez Cabrillo, discoverer of Califor- nia in 1542, was engraved by Armandina Lozano. Change of address, and inquiries concerning non -delivery of PAPER MONEY and for additional copies of this issue, contact the Secretary; the address is on the next page. SOCIETY OF PAPER MONEY COLLECTORS OFFICERS PRESIDENT JUDITH MURPHY, P.O. Box 24056, Winston Salem, NC 27114 VICE-PRESIDENT DEAN OAKES, Drawer 1456, Iowa City, IA 52240 SECRETARY ROBERT COCHRAN, P.O. Box 1085, Florissant, MO 63031 TREASURER TIM KYZ1VAT, P.O. Box 803, LaGrange, IL 60525 APPOINTEES EDITOR GENE HESSLER, P.O. Box 8147, St. Louis, MO 63156 MEMBERSHIP DIRECTOR RON HORSTMAN, Box 2999, Leslie, MO 63056 WISMER BOOK PROJECT STEVEN K. WHITFIELD, 14092 W. 115th St., Olathe, KS 66062 LEGAL COUNSEL ROBERT J. GALIETTE, 10 Wilcox Lane, Avon, CT 06001 LIBRARIAN ROGER H. DURAND, P.O. Box 186, Rehoboth, MA 02769 PAST-PRESIDENT AUSTIN M. SHEHEEN Jr., P.O. Box 428, Camden, SC 29020 BOARD OF GOVERNORS FRANK CLARK„ P.O. Box 117060, Carrollton, TX 75011 CHARLES COLVER, 611 N. Banna Avenue, Covina, CA 91724 MICHAEL CRABB, Jr., P.O. Box 17871, Memphis, TN 38187-0871 C. JOHN FERRERI, P.O. Box 33, Storrs, CT 06268 MILTON R. FRIEDBERG, Suite 203, 30799 Pinetree Rd., Cleve- land, OH 44124 GENE HESSLER, P.O. Box 8147, St. Louis, MO 63156 RON HORSTMAN, Box 2999, Leslie, MO 63056 JOHN JACKSON, P.O. Box 4629, Warren, NJ 07059 ROBERT R. MOON, P.O. Box 81, Kinderhook, NY 12106 WILLIAM F. MROSS, P.O. Box 21, Racine, WI 53401 STEPHEN TAYLOR, 70 West View Avenue, Dover, DE 19901 WENDELL W. WOLKA, P.O. Box 569, Dublin, OH 43017 The Society of Paper Money Collectors was organized in 1961 and incorporated in 1964 as a non-profit organization under the laws of the District of Columbia. It is affiliated with the American Numismatic Association. The annual meeting is held at the Memphis IPMS in June. MEMBERSHIP—REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. JUN- IOR. Applicants must be from 12 to 18 years of age and of good moral character. Their application must be signed by a parent or guardian. They will be preceded by the letter "j". This letter will be removed upon notification to the secre- tary that the member has reached 18 years of age. Junior members are not eligible to hold office or vote. Members of the ANA or other recognized numismatic so- defies are eligible for membership. Other applicants should be sponsored by an SMPC member or provide suitable references. DUES—Annual dues are $20. Members in Canada and Mex- ico should add $5 to cover additional postage; members throughout the rest of the world add $10. Life membership, payable in installments within one year, is $300. Members who join the Society prior to Oct. 1st receive the magazines already issued in the year in which they join. Members who join after Oct. 1st will have their dues paid through Decem- ber 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. • UMIS AL_U INC. P.O. BOX 84 • NANUET, N.Y 10954 BUYING / SELLING: OBSOLETE EECURRENCY, NATIONALSUNCUT SHTS, PROOFS, SCRIP BARRY WEXLER, Pres. Member: SPMC, PCDA, ANA, FUN, GENA, ASCC (914) 352.9077 Page 2 Paper Money Whole No. 175 attift, .*tats Ruilroal,Milititit rat ion, DIRECTOR GENERAL. or RAILROADS. ST. PAUL UNION DEPOT. THIS DRAFT IS NOT VALID UNLESS SIGNED BY C P NASH, rcocRn4 TREASURER, • pay lo ae order C. H. ;lunch SIXTY DDL L A DI4I1 ^eioIAe dmounedueforservicesas Switohtander pi a 6 e roa.sh, Me , ,FiRSTNAT/ONALBANACSTPALIL,MINN. NOT VALID ir DRAWN FOR MORE THAN ii-eiLFRIAILitiOF TWO HUNDRED 00 LLA RS 7995 eS Paul,"„(lkyit D ?91919 Paper Money Whole No. 175 Page 3 QUASI-GOVERNMENT CHECKS by FORREST W. DANIELS T HERE is a class of United States government obligations a step below monetary currency, checks and other direct payment forms of federal funds. These are checks drawn by federal officers on private funds, or on private ac- counts of federal funds. A few examples will illustrate this class of payment forms. But first, some expansion of the intermediary class of pay- ment forms may be useful. Neil Shafer's column in the August 1991 Bank Note Reporter illustrates and defines several of the wide variety of government checks. There are, of course, many others, even down to a handwritten draft drawn March 7, 1865, on a U.S. Army quartermaster agent by a Civil War forage officer for payment of $200 from his "Hay account!'The Official Business postal cover in which that draft was mailed has five red wax seals with the impression of an Indian head one-cent piece. Other unusual direct government payment forms include Drawback Certificates of the Custom House Collector's Office (PAPER MONEY, No. 47, 1973), and Department of Agriculture Commodity Credit Corporation Commodity Certificates, known as PIK (payment in kind) certificates. The latter come in both lithograph and intaglio printed forms. Undoubtedly there are many other printed forms to represent payment by various other agencies of the federal government. Before leaving government checks, here is an informative anecdote. Contemporary government checks have an expiry date for cashing. So when a low-value Social Security adjust- ment check was uncashed after that date, a telephone call came to the payee asking if the check had been received, cashed or whatever. The check monitor was informed the check had been placed in a numismatic collection and would not be cashed. It was a first for that explanation—for that caller, at least. Now to the subject of this story: quasi-government checks for non-government money and its reverse. These are only three examples of an unknown number; they are from the Rail- road Administration, the Secretary of War and the Post Office Department. United States Railroad Administration When the United States entered World I the movement of mili- tary freight was a problem for the government. Delay and growing congestion resulted from lack of cooperation between the many railroad companies, uncoordinated schedules, round-about routing and lack of standardized methods. There was also the threat of a strike by rail workers to demand an eight-hour work day. The government decided to take over full operation of the carriers and Secretary of the Treasury William G. McAdoo was appointed director general of the United States Railroad Administration with "paramount authority" in all matters pertaining to railroad transportation effective De- cember 29, 1917. Operation of the railroads was placed on a common needs basis rather than any advantage to, or competition between, the several corporations. Steps were taken to pool cars, locomotive and repair facilities, and terminals. More efficiency resulted from standardization in construction of freight cars and locomotives and classification of freight. The results produced by federal operation of the system as a single line made a great impression on both government administrators and railroad management. It resulted in legislative action in 1920 to provide better balance in the nation's railroad operation. One reference says that federal control of the rail system lasted twenty-two months; the next sentence says that in twenty-six months the loss to the government was a billion dollars. The bill, of course, was paid by the nation's taxpayers. It is obvious that regional headquarters and payment centers were established in several hub cities. A salary check, denomi- nated a draft, drawn by "Federal Treasurer" C.P. Nash at the St. Paul Union Depot, and payable through the First National Bank, St. Paul, is representative of this class of obligations. Since the Railroad Administration was an official agency of the government, however temporary, the quasi-ness of the checks may not stand rigorous scrutiny. Salary check of the United States Railroad Administration, St. Paul Union Depot. IWAR DEPARTMENT OPERATING L CERTAIN FACILITIES OF 16 MONTGONU,Y & Co. 5 SGEb THROUOH ONLY CONTINENTAL ILLINOIS NATIONAL SANK CAPFAINI N A 011 NTS ANO TRUST COMPANY OF CHICAGO F. 0. LESS THAN EIGHT SPIE, P:PRi,E;:r4,1V: CF THE DOLLARS :ICRETARY of CUOCCIA41; (vLcAsst ENDORSE ON OTHER SIRE) 523§8 THE SECRETARY OF. WAR, CUSTODIAN JUN45S CENTS 08 CENTS ONLY NOT OVER ONE DOLLAR THIS REPRESENTS THE AMOUNT DUE YOU. IT CAN BE CASHED AT ANY BANK. TO THE SPECIAL REPRESENTATIVE OF onhattan Compr Netuz:Vorit,/ Post Master at --has deposited in this Bank J.: -.uto the credit POST OFFICE ta CI -?.:11 bi :5-0 1. to) 3. +a +4.4a mama Deposit receipt for Post Office funds at the Manhattan Company in 1835. is SIGNED DUPLICATES. Teller. Page 4 Paper Money Whole No. 175 Montgomery Ward & Co. refund check issued under the authority of the Secretary of Wan. Special Representative of the Secretary of War, Custodian The management of Montgomery Ward & Co., under Chair- man Sewell Avery, carried on a long controversy with federal agencies set up to regulate wages and prices during World War II. In a confrontation related to a strike, in April 1944, Mr. Avery was carried bodily from his office by two soldiers; a photo- graph of the ejection was a prize news picture of the year. An under-secretary of commerce was placed in charge of the com- pany at that time. On December 28, 1944, the army, under a presidential order, took over Montgomery Ward property in Chicago and six other cities: Detroit, St. Paul, Denver, Jamaica, NY, Portland, OR, and San Rafael, CA. The reason given was that strikes had occurred at several war plants, and if any other strikes followed it could seriously impair the entire war price and stabilization pro- gram. Another strike was threatened at Wards and the War Labor Board ordered the company to negotiate with one of its unions; the company refused, contending that Wards was not a war plant and that the WLB's directive to grant certain union demands were advisory, not compulsory. President Roosevelt sent in the troops. During the occupation of Montgomery Ward & Co., business was carried on as usual under supervision of the Special Representative of the Secretary of War, Custodian. One of the specific duties of the Special Representative was to make re- funds for overages sent by mail-order customers in the form of refund checks and those were issued in the name of H.F. Gillie, Captain F.D. (Possibly Fiscal Department.) The refund checks were payable through Continental Illinois National Bank and Trust Company, Chicago, and often were for amounts less than a dollar with the cents value imprinted on the form. Similar refund checks may have been issued from other occupied mail order centers with other signatures and drawn on other banks. Postmaster's Account For Postal Funds Perhaps the widest scattering of public funds was held in thou- sands of postmasters' accounts in as many local banks. Security for the postal funds was paramount and postmasters were per- sonally responsible for them. In cities and towns where there was no designated deposi- tory for post office funds, postmasters were authorized to open an account for temporary deposits in a national or state bank of his choice. The account was to be held in the name of "Post Office Department, by , Postmaster!' Checks could be drawn on the account only for payment of specified accounts or remittance of surplus funds to a deposi- tory office. Postmasters who had no special bank account made their remittances in cash. The postmaster at Sykeston, North Dakota, had an account in the Sykeston State Bank before it closed in 1929. Only a few cancelled checks and the last pad of unused checks have sur- vived as evidence. They show only two payees: the postmaster and the bank. The postmaster's twice-a-month check covered his salary, rent for the postoffice building, which he owned and clerk hire; checks to the bank were for drafts to pay for stamps ordered and to remit surplus funds to the state depository post- master for third- and fourth-class post offices at Fargo. The last check was drawn on January 17, 1929, to remit $124.30 of surplus funds; $48.91 was left in the account. Later deposits of stamp and money order funds brought the balance to $116.91 when the bank closed on Tuesday, January 22. iSHanhattrot eompang, Vbeeree9"&l, / 64 a,-4-"- Covering letter for the deposit receipt of postal funds. POSTMASTER No. 486 ... : . 192 $ ‘&71-s— _LP_ Dommuts PX1r'11111 OF SWAM niaiTlE i l; 71 -381 S'AlliSESPrtrlir,NALuc. 1'. M. No. •: SYKESTON, N. DAR-, .. . . Ar 1997 ... ,. ... 8-3 ■4 0 DOELARS POSTMASTER • 'pAY TO THE • ORDER OF TO SYKESTON STATE BANK, 77981 SYKESTON, NORTH DAKOTA The two forms and two payees of checks drawn on the "POSTMASTER" account the Sykeston State Bank. hve , .&4r , POST OFFICE! DEPART/61MT, a4 .71 44 leen & eterZ? &re /et de enc./ewe/ILI:ha& eaterizerz&r. ant, 9out Ohe.. ,W.e• seeerinuei yonz Awe 1 04 /j"-- Paper Money Whole No. 175 Page 5 (Continued on page 9) The Bankers World's Fair National Bank Building. THE BANKERS WORLD'S FAIR NATIONAL BANK OF ST. LOUIS A SEQUEL by DAVE GRANT Page 6 Paper Money Whole No. 175 I have been fortunate to receive some additional informa- tion which corrects, clarifies or amplifies my article ap- pearing in the January 1993 PAPER MONEY. A sequel seemed to be appropriate at this time, and provides an excuse to show the Smithsonian specimen sheet for the bank. In order to minimize covering material previously discussed, it is as- sumed that the reader is familiar with the earlier background article. PHOTOGRAPHS Two important photographs that relate to the Bankers World's Fair National Bank (BWFNB) are in the collection of the Mis- souri Historical Society. The first of these is a simple view of the bank. The photograph certainly confirms the utilitarian ap- pearance of the bank and the description of the World's Fair Bulletin that the bank was "a modern building 84 by 54 feet, Paper Money Whole No. 175 Page 7 two stories in height, in the center of which is a tower 20 feet square and 44 feet in height!' While the Bulletin reported that the building was to be lo- cated on the "model street" at the northeast boundary of the Fairgrounds, the bank was actually located further west at the main entrance of the Fair and very close to the primary railway and streetcar stations, ensuring maximum exposure to the Fair's visitors. Many views of the Fairgrounds, including that used on the daily program, omit the entire area occupied by the bank, so its actual location may not have been decided until very late in the process. Following the close of the Fair, the bank occupied its building for only two weeks, at which time the building was sold to the Chicago House Wrecking Company for $500. A comment in the 12/31/04 Examination of the Comptroller of the Currency notes that "since vacating the bank building at the Fair Grounds on about the 16th tilt; Cashier French !sic! and his employees, now reduced to two in number, have been oc- cupying temporary quarters, during liquidation, at the Fourth National Bank, St Louis!' The second, more remarkable photo features twelve in- dividuals standing together on what appears to be the bank's steps. Open since the end of March, the Fair generated large amounts of cash, and Fair officials were increasingly anxious for the bank to open. There is an interesting letter dated lune 1, 1904 which emphasizes the bank president H.A. Forman's exasperation in being forced to open prematurely: I wish to state, that the Bankers' World's Fair Natl. Bank has this day opened its books, and will commence business today, although hardly ready for such an occurrence, but owing to the desire of the World's Fair interests for us to do so at as early a date as possible, we have commenced business, notwithstanding the fact that all of our furniture is not yet ready for use. If the photograph was taken on opening day, the incomplete nature of the building reinforces Forman's complaint. In any case, the picture is a real "blockbuster" to students of St Louis banking history since each of those pictured were related to the BWFNB in some way and most were prominent St Louis Bankers: H.A. Forman. President & director of the BWFNB, president of Fourth National Bank. A. Lehner. Director & VP of the BWFNB, president of the German-American Bank. W.H. Thompson. Director and VP of the BWFNB, Treasurer of the Fair and president of the National Bank of Commerce. He was trained as a plumber, founded a plumbing supply com- pany, became president of the largest St Louis bank and was the driving force in the financial success of the World's Fair. The Bank Directors on the steps of the Worlds Fair Bank 1904. Left to right, first row: H.A. Forman, W.H. Thompson and C.H. Huttig. Second row: A. Gehner, !no. T. Lyn, W.H. Thomson, Christian Clatly, C.E. Bryan, Arthur 0. Wilson, R.R. Hutchinson, I.S. Calfee and N.A. McMillan. Page 8 Paper Money Whole No. 175 half dozen years he was associated with the Fair took its toll, however, and he died at the end of 1905. C.H. Huttig. Director & VP of the BFWNB, president of Third National Bank, founder and president of Huttig Sash and Door Company. A. Gehner. Director & VP of the BWFNB, president of the German-American Bank. Jno. T. Lynn. President of the St Louis Safe and Desk Com- pany. Perhaps it was his products about which Forman com- plained were not yet ready at the bank's opening. W. H. Thomson. Director of the BWFNB, Cashier of Boatmens Bank in St Louis. He had been with Boatmens from the 1850s, and held the curious distinction of being considered the "oldest" banker in the St Louis at this time. Christian Clandy. Supervisor of the Burglar Proof Vault Company and clearly an important individual with the safe de- posit company associated with the bank. C.E. Bryan. Cashier of the BWFNB. He had been assistant cashier at the Central National Bank of Carthage, Missouri and, more recently held a fairly minor position at the Third Na- tional Bank in St Louis. Bryan appeared in the 1905 St Louis City directory and then disappeared from St Louis. Arthur 0. Wilson. At the time, a National Bank Examiner who performed the final exam of the BWFNB at the end of 1904. In 1906 he became a Vice President at the State National Bank. R.R. Hutchinson. Director & VP of the BWFNB, president of Mechanics National Bank. J.S. Calfee. On the face of it, Calfee held a fairly minor posi- tion as assistant cashier with the Mechanics National Bank, and would not become cashier of its successor, the Mechanics American, until 1909. However, he was to preside over the Mis- souri Bankers Association Convention held at the Fair, and was thus most appropriate to be in attendance at the opening of the bank. N.A. McMillian. director & VP of the BWFNB, VP of St Louis Union Trust Co. CIRCULATION Peter Huntoon was kind enough to provide the following in- formation from the Comptroller of the Currency's Bond and Currency Ledgers presently located at the National Archives. Reconciliation of Note Issue/Redemption Date Denomination Ser. Nos. Value Currency Issued* 4/19/04 $50-$100 1-333 $49,500 5/25/04 $50-$100 334 150 Currency Redeemed 5/23/04 $100 1 $ 100 1/03/05 $ 50 334 16,700 1/03/05 $100 333 33,300 *"Currency Issued" indicates actual sheet serial numbers issued, "Cur- rency Redeemed" indicates number of notes involved. The bank had been issued 333 sheets of $5-$100 notes on April 19, 1904. Each sheet consisted of one $50 note and one $100 note and was the highest value sheet issued at the time. Fewer sheets meant easier handling and greater security. However, $150 is not evenly divisible into $50,000, and this first ship- ment totalled only $49,950. Since circulation was sent to banks in the form of complete sheets, the only way to obtain the max- imum circulation was to redeem $100. Significantly, there is a letter from C.F. Bryan to the Comptroller dated May 21, 1904 which names A.S. Pratt and Sons as the agents to witness the destruction of the bank's notes, about the same time that the first $100 note was redeemed. On May 23, 1904 one $100 note was redeemed, and two days later, on May 25th, sheet 334 was issued to the bank. It appears that the bank was simply trying to get to its maximum circula- tion of $50,000 before it opened, presumably as payment/col- lateral for the bonds sold (but actually lent) by the Fourth National. It is also of interest that a comment in the Comptroller's June 15, 1904 Examination indicated that, although circulation received totalled $50,000, none was presently on hand at the bank. A December 21 letter from C.E. Bryan specifically indi- cates that the $50,000 sent in to redeem the bonds was, in fact, the currency issued to the bank: We are sending you today by Express Fifty Thousand dollars in cur- rency of the Banker's World's Fair National Bank for which kindly send to the Fourth National Bank of St Louis Mo our bonds which are on deposit with you to secure this circulation. The Currency Bureau ledgers indicate that 333 $100s and 334 $50s were canceled and presumably destroyed on January 3, 1905. So, where was the currency from May to December 1904? As previously suggested, it probably resided—perhaps uncut and unsigned—in the vaults of the Fourth National to be redeemed when the bank was liquidated following the close of the Fair. The currency really served no purpose other than to pay for the S bonds required to organize a National Bank since, unlike other banks of the time, the BWFNB made no loans and it generated plenty of cash from its cashiering and exchange operations. Further, under the terms of the Act of July 14, 1870, a bank in the process of liquidation was required to deposit lawful money to secure its outstanding circulation. If this deposit was not made within 6 months of the decision to liquidate, the Comptroller would force the issue by selling the bank's bonds and making the necessary deposit from the proceeds. Bonds carried significant premiums to par value at this time, so it was in Forman's interest to return the currency so that Fourth Na- tional's bonds would be released without a problem. Huntoon (1982) provides the last word on the matter. In discussing reis- sued currency, he notes that "when a bank reduced its circula- tion ... it was required to deposit lawful money with the Treasurer to redeem that fraction of its outstanding circulation. What better way to accomplish this than to return available sheets!" Although Huntoon's comments apply to a specific ex- ample associated with the Aldrich-Vreeland Act, there is no reason to believe that the practice was not followed in this earlier case as well. So, while St Louis collectors might wish that someone "salted" a note from another bank into the $50,000 in exchange for a souvenir, it appears that the documentation precludes the (•171171.101aW'. --EktileDIAMI*3111MEIESIe:POSPOMIgett. "mt. tp.1..701,1Mos.1.. . NO‘aj.:1/4:...:741e79441. • • ... I v4 k • 1111 'S 4)1' bit( •• qt.:R*1'1111C 1.1hi11.0 II{ NATION' allANK0F ...A 4.41.1 • / '14,4;41,14,4404.4-,;04 / .1/4//,‘, /1 fr/M • a *IV: 11.1 ksobaztetamoimbleanatiotcarri loosa- IT) - : : 1 '■°t •q1 VNIA .1 I?! • I 1‘111.0-■:Altet; 01 I I I ■I4ERS311►111I1S EAIIt j1144NEL 'I I 0. -!w \ Wig: I1 I NI*11.01111.0 Linik1Odt-f* Urn% /1 /4t4 :1,VOSUAgait=St CraWt Paper Money Whole No. 175 Page 9 chance that any notes of the bank survived. At least we can enjoy the specimen preserved at the National Numismatic Col- lection at the Smithsonian. SOURCES OF INFORMATION/ACKNOWLEDGMENTS Correspondence and Examination files, and Currency and Bond Ledgers of the Comptroller of the Currency, various dates 1904 to 1905, presently in the National Archives. World's Fair Bulletin, various issues 1902-1904. Childs, C.F. (1947). Concerning U.S. government securities, Chicago. (See especially pages 361 to 363.1 first heard about this invaluable book and the concept of bond dealers "underwriting" the circulation of national banks during John Hickman's presentation at the 6th an- nual PCDA Show in St. Louis, October 1991.) Grant, D. (1993). The Bankers World's Fair National Bank of St. Louis. PAPER MONEY, No. 163, pp. 18-21. Huntoon, P. (1982). National bank note reissues—a case study. PAPER MONEY, No. 99, pp. 113-4. Warns, M.O. (1973). National bank note reissues—a case study. PAPER MONEY No. 99, pp. 14-15. Special thanks are due to Lynn Vosloh for generously providing the fine illustration of the proof sheet in the Smithsonian Collection, and Peter Huntoon for the issue and redemption information for the bank. Thanks are also due to Kristen Hammerstrom at the Missouri Histor- ical Society for assistance in securing the photos of the bank and the Directors. ■ CHECKS (Continued from page 5) After the bank closed remittances were made by cash and registered mail. Regulations required each bill be listed by type, serial number and denomination and that a duplicate list be retained. Two surviving 1935 stamp orders totalling $150 en- closed eight Federal Reserve notes (one Chicago, seven Min- neapolis), a $20 Farmers National Bank, Hutchinson, Minnesota, and $10 First National Bank, Minneapolis. A $32.48 order for envelopes enclosed a $20 Pacific National Bank, Seattle; a Federal Reserve note; two silver certificates and forty-eight cents in coin. Rules relating to all transactions relating to the care and transfer of all postal funds are defined in Postal Laws and Regula- tions (GPO 1932). PL&R was the supreme law for every post- master, so almost every town with a bank had a postmaster's account for temporary deposits. Most of the accounts were small; surplus funds were those more than $100 for third-class offices and $50 for fourth-class. It is quite possible some post- masters drew checks directly to the depository postmaster or the stamp sales office rather than to the bank for a draft; without other examples there is no proof, however. Most of the cancelled postmasters' checks must have been destroyed when a postmaster relinquished his job, or the bank closed; or preserved in this case when the post office moved to new quarters and the outdated forms were abandoned in the building owned by the previous postmaster. ■ Page 10 Paper Money Whole No. 175 Copies of the Type 19 Confederate Note: COUNTERFEITS OR FACSIMILES? by IIRENT HUGHES The financial structure of the Confederate States of America was always on the brink of disaster. This was caused by politics, stupidity, ineptitude and a succession of bad breaks. One of the most incredible misadventures involved Secretary of the Treasury Christopher Mem- minger and Samuel Schmidt, manager of the New Orleans office of American Bank Note Company of New York, maker of the Type 19 Confederate note. T EFFERSON Davis was considered one of the leading "Constitutionalists" of his day. Until the day he died he sincerely believed that since the states within the United States had voluntarily joined the Union without giving up their rights as states, those states had a constitutional right to with- draw from the Union if their citizens so desired. It was this be- lief, shared by many Southern leaders, that led many states to secede individually and then form themselves into the Con- federate States of America. Their intention was to go their way as a separate nation and none expected to fight a war in order to do so. Lincoln had other ideas, of course, and the Civil War was the result. Prior to the war Memminger had been a banker, and as such he knew all about paper money. In those days each bank issued its own currency which it ordered from one of the giant bank note printing companies based primarily in New York City. When the Confederate Congress, meeting in Montgomery, Alabama on March 9, 1861, authorized the issue of one million dollars in interest-bearing notes, Memminger did what bankers had always done. He placed an order with the Na- tional Bank Note Company of New York to engrave and print the currency known to modern collectors as "Montgomery notes:' This issue consisted of 1,606 each of $50 and $100 notes plus 607 each of $500 and $1,000 notes. The bills earned interest at the rate of 3.65% and could be transferred by en- dorsement like most bank instruments. lust who selected these denominations is not clear but appar- ently it was not Memminger. When the sheets of notes were de- livered at Montgomery on April 2, 1861, ten days before the war began, Memminger wrote his friend G.B. Lamar in New York City that there were too many $1,000 notes and too few $50 and $100 notes. He stated that lie intended to order more of the low denominations and "suppress" the $1,000s. At this point it ap- peared that Memminger believed that the New York companies would supply all the currency the Confederacy would ever need. He was rudely awakened when the bombardment of Fort Sumter began on April 12, 1861 and Memminger realized that he was cut off from the New York companies and the Confederacy had virtually no facilities to print paper money. A quick survey revealed that the only plant available in the South was the small New Orleans branch of American Bank Note Company, managed by Samuel Schmidt, his young son and one helper. Memminger should have known that the tiny shop at No. 12 Royal Street was not capable of volume produc- tion but the desperate situation demanded that he try. Schmidt was told to engrave and print $20 million worth of steel-plate engravings within a two-month deadline. This arrangement was made through James D. Denegre, president of the Citizen's Bank of Louisiana. Memminger told Denegre that the alterna- tive to steel-plate engraving would be stone lithography, a com- paratively crude process not really suitable for the printing of secure paper money. To sustain the Confederate Government during the two months granted Schmidt, Memminger asked Southern banks to loan their own notes to the Treasury Department, taking the interest-bearing "Montgomery notes" as collateral. Many banks agreed to help the new government in this manner. Schmidt was told not to use the American Bank Note Com- pany name on the currency he was to produce and to substitute the name "Southern Bank Note Company!' This ploy fooled no one in the industry, but it was good politics to get rid of the New York name on Confederate money. Schmidt could not hire more employees—none existed in New Orleans. Nevertheless he began work and did eventually produce 5,798 each of the $50 and $100 interest-bearing notes (now called the "First Richmond Issue") followed by 58,860 $5 notes (Type 31 "Five Females"), 58,860 $10 (Type 22 "Indian Fa- mily"), 14,860 $20 (Type 19 "Navigation") and 14,860 $50 (Type 15 "Railroad Train") non-interest-bearing notes. The two-month deadline passed and Memminger had not received one note from Schmidt. Memminger was a tough in- dividual who ruled his department with an iron hand. He sent his agent, Dr. William R Rayburn, to talk to Schmidt and Denegre. The upshot of this conference was that Schmidt was told to continue work on his contract but 10,000 sheets of paper would be transferred to the lithography shop of Jules Manouvrier, also in New Orleans. Thus began the frantic efforts to set up other currency printing facilities in Richmond. Schmidt finally delivered his first contract notes on August 26, 1861 but it did not please Memminger who was disgusted by the long delay. On August 28 he told Schmidt that he had only two choices—Schmidt could move his equipment to Rich- mond to join the other currency printers, or he could stay in New Orleans if he could speed up production of his second contract notes. Schmidt chose to stay in New Orleans, but he could not speed up production. Such output was pure fantasy on the part of Memminger. This situation so angered the Secretary that he moved to put Schmidt out of business by legal means. He had the Con- federate government label Schmidt's shop an alien enemy, seized his equipment and paper supply and hauled it off to Richmond to be used by Leggett, Keatinge & Ball. Schmidt asked his friend lames Denegre to intercede on his behalf and Memminger relented somewhat, leaving Schmidt with a mini- Paper Money Whole No. 175 Page 11 mum of equipment to keep him in business. This activity con- tinued until November 16 when Memminger seized Schmidt's plates and shipped them to Richmond. That was the end of Schmidt's work for the Confederacy. The tragedy of this situation was that Schmidt did beautiful work, turning out masterpieces of the engraver's art. Collectors today put a magnifying glass on Schmidt's notes and marvel at the exquisite detail which made his notes virtually immune to counterfeiting. Never again would the Confederacy enjoy such beautiful currency and Memminger would have to endure harsh criticism for the low quality of the paper money that al- most invited counterfeiters to copy it. I can find no record of any serious counterfeiter trying to copy the steel-plate engravings used to print the "Montgomery notes" or the "First Richmond Issues" and four other note types produced by Schmidt. There have been some modern repro- ductions and that sort of thing but nothing of importance to the serious collector. Such counterfeits of Schmidt's second contract notes that did appear during the Civil War were printed from electrotype plates made from crude woodcuts. I don't know of any litho- graph copies, but some may exist. That the woodcuts circulated as genuine is more a reflection of ignorance on the part of the public than any artistic merit of the notes themselves. Anybody with a small printing press could produce copies from an electotype plate, but there were few people capable of creating a woodcut. Most woodcut artists worked for Harper's Weekly or Frank Leslie's Illustrated Newspaper which specialized in pictorial presentations of Civil War events. Photography was in its infancy and the woodcut was the only medium available to such publications. In this article we will examine the woodcut copies of the Criswell Type 19 "Navigation" note. These counterfeits created minor problems for the Southern economy but not the severe ones caused by the very deceptive lithograph copies of other notes. The rather odd circumstance in which two different woodcuts were made and from which electrotype plates were made is interesting because of the mystery involved. We can only guess at who made the woodcuts, which came first and who may have copied from whom. The one thing we are sure of was that our old friend Sam Upham, the Philadelphia shop- keeper, produced a lot of copies of Type 19, which he always in- sisted were harmless "facsimiles" But Sam was a sharp old boy who knew better. To give the reader an idea of what Schmidt's genuine note looked like, we will illustrate it and offer a word description of its details. Since there is a serial number/signatures disagreement in one of the counterfeit notes to follow, the reader may be in- terested in just who among the Treasury clerks signed the gen- uine notes for the Confederate Treasury Department. Reference to tables such as this is the quickest way to determine the gen- uine or counterfeit character of a Confederate note. There are exceptions to this rule, of course, but it is still a valuable tool. All of the type 19 counterfeits known to me were printed from electrotype plates made from two slightly different woodcuts. I can find no record of a steel-plate or lithograph counterfeit. How two woodcuts came into being is anybody's guess, but I suggest one possible explanation. Sam Upham complained that he had many competitors in the facsimile business. Perhaps one of them saw the Type 19 note illustrated in a newspaper and bought an electrotype plate for his own use. The newspaper note would logically have car- ried the serial number from a genuine note since a woodcut artist copied everything. Since Sam's competitor wanted his notes to be different from the newspaper version he may have shaved the serial number off and printed his facsimiles with blank spaces. This allowed a dishonest person to write in con- secutive serial numbers to fool the public and pass off his copies as genuine. Upham may have discovered one of these notes on which someone had written in a fictitious serial number 4316. Not being able to locate the original woodcut or the source of the plate, Upham could have taken the note to another woodcut artist and had him copy it. Upham could then order as many electrotype plates as he wished, some with the printed serial number 4316, some without, some with printed signatures and some without. Sam Upham was a sharp businessman who gave his cus- tomers whatever they wanted. From one of his circulars in THE GENUINE NOTE Criswell Type 19—$20—issue dated September 2, 1861—by Southern Bank Note Company, New Orleans. Printed in black and red on excellent paper. At center, female figure representing Navigation, seated beside her globe and charts. At left, fe- male figure representing Minerva leaning on shield. At right, blacksmith at his forge. Red-orange overprint of two "20" medallions at upper left and right and a larger "20" medallion at lower center behind which is a rectangular network of the word 'TWENTY" repeated 192 times in tiny letters. Total issue: 14,860 with written serial numbers and signatures. AUTHORIZED SIGNERS OF THE TYPE 19 SERIAL NUMBERS: SIGNER FOR REGISTER: SIGNATURE*AS USED ON NOTE: SIGNER FOR TREASURER: SIGNATURE*AS USED ON NOTE: 1 thru 1900 Temple Ellett T Ellett Harrel H. Goodloe_H H. Goodloe 1901 2300 C C. Thayer C C. Thayer Harrel H. Goodloe _ H. H. Goodloe 2301 3900 Temple Ellett T Ellett Harrel H. Goodloe_H. H. Goodloe 3901 4400 C. C. Thayer C C. Thayer Harrel H. Goodloe_H H. Goodloe 4401 - 5600 Temple Ellett T Ellett Harrel H. Goodloe H. H. Goodloe 5601 6400 Thomas J. Miller Tho. J. Miller R. H. L. Tighe R H. L. Tighe 6401 - 7200 S G. Tinsley S G. Tinsley Albert W. Gray A W. Gray 7201 - 8400 C C. Thayer C C. Thayer John Ott Jno. Ott 8401 - 9200 R Hill, Jr. R Hill, Jr. R M. Payne R M. Payne 9201 - 9700 T L Crouch T L Crouch F. Westwood Ashby_F. W. Ashby 9701 11300 Thomas J. Miller Tho. J. Miller R. H. L. Tighe R H. L. Tighe 11301 12000 Meriwether Winston M. Winston John C. Tennent J C. Tennent 12001 14400 Temple Ellett T Ellett Thomas 0. Keesee_T. 0. Keesee 14401 - 14860 T. L. Crouch T. L. Crouch Albert W. Gray A W. Gray * Clerks were apparently paid on a piecework basis so most shortened their signatures in the interest of speed. "NAVIGATION" NOTES VAIOA Le /Iv EleFir PIN CENT SroCA al? 8 ONO S 0 !CO ATE s rires or Amt- IlICA' Fuo.Siesile Polfederate Not..—Sold Mamie and Retcsa, 9. C. Uplays, 403 Chest nut St. ?Wade •hilt. -111-11: CEIVA.ILLE IN PAYMENT il'EF AIL 1111E$ EXC E E XPORT BETTE SI Page 12 Paper Money Whole No. 175 which he was soliciting orders for wholesale lots, we see that Sam offered the customer his choice of notes on "French paper" at fifty cents per hundred or notes printed on "bank-note and bond paper" at $1.50 per hundred. Further in his circular Sam offered a deluxe version for the person who wanted the very best, "The $5 (two kinds), $10, $20 (two kinds), $50 and $100 Rebel Notes, printed from NEW PLATES, on the best quality bank note and bond paper, with numbers blank and signatures omitted if preferred—perfect FACSIMILES of the originals—will be furnished at $5 per 100, or $40 per 1,000 notes:' Customers THE SAM UPHAM FACSIMILE 1 Os note 'vas printed from an electrotype plate of a woodcut rendering with the typeset Upham inscription added to the bottom margin. The serial number 4316 and the signatures C.C. Thayer and Ina Ott are printed. Since the genuine note with serial number 4316 was signed by C.C. Thayer and H.H. Coodloe, the serial number on the facsimile raises an in- teresting question. Woodcut artists usually worked from a genuine note and would have simply copied the serial number which should have been between 7201 and 8400. Why did he use a different serial number on this woodcut? The preceding scenario offers only one possibility. There may be many others. Most of these notes found today were closely trimmed and passed into circulation. Notes with the Upham inscription intact are scarce to rare and command a premium price when offered. reINDARLEJN ERWT REE cte-ivr Sraelf OR IT ON DS 0 FC ONeEReRATE STATES or AiRERICA 1..-f1111:EIVAXWE IN-PAYMENT ,OF AII.DATES -EXC RP TT.XP 0 RT,DVITESitstItt'lt.,tMt•t..ctt., *.tty: -,eare7. xetactABLE:m RtRe. OCK.017,80,VOSOfc.G.N100£141r STAI.C5 orAmERit • • Mt. .ti-filrfaTIVARLIIIItrPAYMKNI ,A. +Nit 1, ,n7t7..R P' Ns. Paper Money Whole No. 175 Page 13 were told to specify whether they wanted the notes with or without signatures. Thus, for $5 per 100, a customer could re- ceive beautiful notes on which he could write in serial numbers and signatures, coming about as close to the genuine as pos- sible. It is hard to believe that these notes were not intended to be passed off as genuine on unsuspecting persons. Some people believe that the Union government may have furnished this excellent paper to Upham in order to further cripple the Southern economy. I have seen dozens of these facsimiles but never one with written signatures. Many dishonest persons were willing to fill in consecutive serial numbers because a dozen notes with the same printed serial number would be suspicious, but few wanted to fill in signatures. This may have been because many people of that era could not write. Nevertheless I think we must assume that Upharffs notes exist with printed serial numbers and signatures, written serial numbers with printed signatures and written serial numbers with written signatures. The last combination would be quite rare. One problem is that some notes appear to have written sig- natures but they turn out to be clever alterations of the printed signatures in which someone has traced over the printed signa- tures with brown ink. The signatures look slightly brown but the strokes are necessarily wider. By holding the note up to a sun-lit window one can see the black printed signatures under the "halo" of brown ink. This was just another ruse by the coun- This is the sante woodcut from which the Upham electrotype plate was made except that the printed serial numbers have been removed. The note has wide margins all around showing that the regular Upham inscription was never present. Instead, there is a typeset inscription "Fac-Simile Counterfeit Note." running vertically on the left margin but fin enough out that it could be trimmed off easily. The paper is of excellent quality but is thinner than most. Collectors have wondered if such notes were made by Upham. I believe they were, even though Upham may not have ordered them with the left edge inscription. We know that at one point Union detectives raided Upham's printing plant and accused him of being a counterfeiter. Sant got off but the experience may have had an effect on Ins printer to the extent that he insisted that the "Fac-Simile" inscription be printed on each note. The printer was thus made immune from arrest since he could not be held responsible for whatever happened to the note after it left his plant. Thi is the Upham facsimile which was originally printed with blank serial number space. Someone wrote in the serial number 2143 in red ink, trimmed the margins off closely to eliminate the inscription and passed it into circulation. The back is stained from having been carried in a leather wallet after folding. It appears to have been in circulation for some time but is otherwise in fine condition. The word "Counterfeit" is written across the back, but there is no way of knowing just when that was done. This note was found with written serial numbers that have no relation to the signers of the genuine notes. I have another specimen with serial number 1679 which is immediately suspect because the Titian Register shows that the genuine note with that number was signed by Ellett and Goodloe, not Thayer and Ott. Page 14 Paper Money Whole No. 175 POINTS OF COMPARISON OF THE TWO WOODCUT VERSIONS The Upham Version The Second Version • Three tiny marks over the "D" of "CONFEDERATE" • Three tiny marks over the "E" of "AMERICA" • No tiny marks over the "D" of "CONFEDERATE" • No tiny marks over the "E" of "AMERICA" ■■••= iararm 'ellv;1=11-1-. • Blacksmith's hair is curly and there is a period after "New Orleans" • Blacksmith's hair is straight and full and there is no period after "New Orleans" • Distinct curved strap across foot • Vague straight strap across foot floN1)411lFfn pf, A1 ‘110 ,,k On If ()An', Of t ("tarot II 41L621/,titim: tVII p .1 • •.• Ai, L.; 1.) E 5 EX C EPT EX 1,9 ft T. Inn' I I.; Paper Money Whole No. 175 Page 15 At first glance this woodcut looks very much like the Sam Upham version, but closer examination reveals many differences: 1. There are no tiny marks over the "D" of "CONFEDERATE" and the "E" of 'AMERICA." The marks are present on the Upham note. 2. The blacksmith's hair is straight rather than curly as it is on the Upham version. 3. There is no period after "New Orleans" on the right end. The Upham version has a period. 4. There is no distinct sandal strap across Minerva's foot; the Upham version shows a distinct curved strap. I have four specimens of this second woodcut version note. All are closely trimmed, probably indicating that edge inscrip- tions were trimmed off. All have printed signatures. Two notes have blank serial number spaces but circulated anyway. Two have written serial numbers that do not agree with the Thian Register. All four notes have a crude overprint that is redder than the ones on the Upham notes, where they are almost orange. If anyone has Type 19 counterfeits not mentioned in this article, 1 would appreciate a postcard or letter addressed to me at 781 Seay Road, Inman, SC 29349 giving pertinent details. terfeiter to make the fakes appear genuine. One cannot be too careful in examining counterfeit varieties. Sources: Ball, Dr. Douglas, various articles in Bank Note Reporter, a Krause Publi- cation. Bradbeer, William West. (1915). Confederate and Southern State Currency, Mt. Vernon, N.Y. Chase, Philip Fl. (1947). Confederate Treasury Notes, Philadelphia. Chase, Philip H., various articles in The Numismatist, official publica- tion of the American Numismatic Association. Criswell, Grover C. (1976). Confederate and Southern States Currency, Second Revised Edition. Encyclopedia Britannica. Slabaugh, Arlie R. (1976). Confederate States of America Paper Money, Fifth Edition. Thian, Raphael P. (1972). Register of the Confederate Debt, reprint by Quarterman Publications, Inc. Todd, Dr. Richard Cecil (1954). Confederate Finance, University of Georgia Press, Athens. Wheeler, Keith (1976). The Chroniclers volume of The Old West series by Time-Life Books, New York. Printing Impressions Intended for HEATH'S INFALLIBLE COUNTERFEIT DETECTOR by GENE HESSLER (The letters reprinted here were observed while researching another subject. The subject could, and perhaps should, be researched further. However, for now this is all this writer has recorded.) 0 N occasion, impressions of face and back designs,authentic and counterfeit, both printed by the Bureau of Engraving and Printing (BEP) and intended for in- clusion in a Heath's Infallible Counterfeit Detector, have been re- moved from those publications and have masqueraded as proof impressions. The paper used for the Heath publication is in contrast different than the soft paper used for official BEP proofs. The counterfeit impressions in the Heath publications were printed by the BEP from captured plates. The two letters that follow verify that some of these impres- sions were disseminated without being included in Heath's .. . Detector. Geo. B. McCartee, Chief of the Bureau of Engraving and Printing sent the letters to Laban Heath: the first on 9 June 1870, the second is undated. etAlttupapwrAiNopc—rotritia0 VINFUREN- _„,,(5 sixvirv/J 71h• /V, vsirtry_H-vpD, .04,11A1,01, - 113 01,1111 the t2t. trig5cr at ltlittiliiittjton 0-011 tatgg4Z0 Attaill3 kenii3V0 NAnglyitt Oitall2inku , mot ailli,21,91.9 fn I 1.e CO itj 1.41 • • • - ,401-1 • - 0•VANINVIS/ 4404/144Vot oiinT at '40;,%4^',,20 ES ,ty,itcHAN.-rs Natitotitl lilt pu g TEN 1)()I,TAR s to &over 0,, 453DP4OWIESODPAMV#S0101.MaRNOrtirlIgC.Mitta =4.01:0 $1144MattWeP7 to Bcdtel Page 16 Paper Money Whole No. 175 Gentlemen: I learn that you have disposed of single impressions from Counter- feit plates furnished you by this Department for your Detector . This is certainly contrary to the understanding of this Department, and I beg you will inform me as to the extent of this matter, and what kind and number of impressions have this far been disposed of The letter of reply, to which the following letter refers, was not seen. Gentlemen: In answer to your letter of the 11th inst., I have to say that the name of the person who is disposing of the notes in question is Wilson. He claims to have received them from Laban Heath & Co., about one year ago. He had been disposing of them at fifty cents per im- pression of Ten or Twenty dollar Notes. It is quite evident that these notes have never been in any book whatsoever. The man Wilson is a card and ornamental writer and calligrapher. Without thoroughly examining what appeared to be two in- complete "proof' impressions, this writer photographed two national bank note pieces for Hessler (1979). In my haste to re- turn these two pieces to their owner, I did not examine the paper and the engraving closely enough. After publication I discovered that I had fallen victim to the masquerade. These two pieces were counterfeit prints from, or intended for, two different Heath Detectors. For those who have Hessler (1979) and have not already no- ticed what I should have seen at the time, the counterfeits are: The Merchants National Bank of Chicago $10 on p. 150 (Newman, Var. 3-P-2) and The First [National Bank of[ the City of New York $20 on p. 152 (Newman, Var. 3-BH-I). Sources: Hessler, G. (1979). U.S. essay, proof and specimen notes. Portage, OH: BNR Press. Newman, E.P. (1991). Heath's counterfeit detector. (C.W.A. Carlson and M. Hodder ed.). The American Numismatic Association Anthology. Colorado Springs: American Numismatic Association. Press copies of official and miscellaneous letters sent, 1862-1912, U.S. Na- tional archives RG 318. CONSIDER donating a subscription of PAPER MONEY to your college alma mater, local historical society or library. Paper Money Whole No. 175 Page 17 Wismer Catalog Status by STEVE WHITFIELD I T has been awhile since the SPMC published a new statecatalog as part of the Wismer project. The Wisconsinbook by Chet Krause is in the SPMC format but is not published by the Society. It has been even longer since we have seen an update on the project, so this is an effort to report on the current status. Many of the state books have been completed since the Florida book was published back in 1967. A number of other states have had excellent cataloging efforts completed by collectors and researchers that were not exactly in the SPMC format but met the requirements of a state book for collectors libraries. Until we publish catalogs for uncataloged states, we should not consider spending any effort in redoing acceptable state books just to get them all in the same format. The recent release of the American Paper Money collection by the American Bank Note Company includes 35 states and the District of Columbia. The collection, with the exception of Montana, includes the earliest settled areas of the country that fit into the "bank note" era. These states demand catalogs because of the large numbers of obsolete notes that were issued within their borders. I believe that the rest of the West and Pacific states of Hawaii and Alaska could effectively be combined into several volumes. The interpretation of what gets listed for the western states is much more liberal than the eastern states, since comparatively fewer notes were issued in the West. Each state should have as much detailed history as possible. California may have sufficient issues to warrant its own volume. The Society would be happy to publish catalogs that cover any of the western states where a volunteer author can come up with sufficient material to create a volume. It should also be noted that several of those states already have significant books published on their note history, e.g., Colorado by Nolie Mumey and Utah by Rust. If the eastern "half' of the country is divided by regions, it is possible to tabulate where we are with reference to published catalogs and for which ones we need some help. See Table 1. For New England, the states of Connecticut, Massachusetts, and New Hampshire await completion. In the Northeast, New York bank notes needs to be completed and is being worked on. The manuscript for New York scrip notes has been drafted by Gordon Harris. For the Mid-Atlantic region, Delaware, Maryland and Wash- ington, D.C. have not been completed. Virginia, including the state of West Virginia, was formerly done by Charles Affleck and has been revised. Therefore, we shall conclude that these two states are complete for now. In the area I have designated as the Mid-West, only the state of Missouri awaits completion. There are vast quantities of information available but we need to figure out how to get it ready for publication. One excellent suggestion received was to consider having graduate students produce manuscripts as part of their degree requirements. The state of Oklahoma was done by Maurice Burgett and combined with Kansas. Oklahoma was not included in the American Bank Note series and could be included as a separate chapter in a Western States volume or omitted since it has already been done by the SPMC. The status of the North Central States is as follows: Illinois and Ohio need to be done. The state of Michigan was done years ago by Bowen and has been reprinted, so we shall conclude that it does not need to be redone at this time. The Kentucky manuscript by Earl Hughes is in my hands and I am working to get it ready for publication. In the South, Georgia, Louisiana, North Carolina, and South Carolina await completion. Tennessee was cataloged by Paul Garland, although he omitted scrip issues. For now we shall say we need a volume on Tennessee scrip issues. Work on the Western and Pacific States is required. In the interim we have works on Colorado and Utah and I have seen some articles and pamphlets on several of the other states. Good work is proceeding on the states that constituted the Oregon Territory. Table 1 also shows the names of volunteer authors who responded to a recent questionnaire regarding their efforts. Anyone interested in participating in this project as an author, assistant, researcher, photographer or in any other capacity is urged to contact Steve Whitfield at 14092 W. 115th Street, Olathe, KS 66062. And as long as we are writing about catalogs for the paper money hobby there are a few others I would like to see completed, including: 1. Depression Scrip Issues of 1907/1914 (Help, Neil) 2. Sutler Scrip with detailed research 3. Labor Exchange notes, with all issuing locations 4. Railroad Scrip, compilation of Hoobefs great work 5. Look-Alikes, with information on the makers 6. Vignette catalog with names, numbers, artists, etc. (Start with John Muscalus' works.) There are countless other opportunities to create valuable reference works for the hobby. It's a great way to contribute something lasting to the sport of paper money collecting. Table 1. REGION AUTHOR STATUS NEW ENGLAND Connecticut Maine Massachusetts New Hampshire Rhode Island Vermont John Ferreri* George Wait Wayne Rich* Roger Durand Mayre Coulter dormant completed unknown in progress completed completed Page 18 Paper Money Whole No. 175 NORTH EAST New Jersey George Wait completed New York (banknotes) John Glynn* in progress New York (scrip) Gordon Harris submitted draft Pennsylvania R.T. Hoober completed MID-ATLANTIC Delaware Terry Bryan* in progress District of Columbia unknown Maryland unknown Virginia see Affleck West Virginia (included in Va.) MIDWEST Arkansas Matt Rothert (d) completed Iowa Dean Oakes completed Kansas Steve Whitfield completed Missouri Eric Newman* dormant Nebraska see Walton & McKee Oklahoma Maurice Burgett (d) completed NORTH CENTRAL Illinois Dennis Forgue in progress Indiana Wendell Wolka completed Kentucky Earl Hughes submitted Ohio Don Kelly in progress Michigan Larry Falater see Bowen Minnesota Rocky Rockholt completed Wisconsin Chet Krause completed SOUTH Alabama Walter Rosene completed Florida Harley Freeman completed Georgia Carl Anderson* in progress Louisiana unknown Mississippi L.C. Leggett completed North Carolina Jim Sazama* in progress South Carolina Austin Sheheen, Jr.* dormant Tennessee (need scrip) see Garland Texas Bob Medlar (d) completed WESTERN & PACIFIC STATES Alaska Arizona Hal Birt, Jr.* "pub'd 1990" California Colorado see Mumey Hawaii Idaho Dick Naven* in progress Montana Nevada New Mexico North Dakota South Dakota Oregon Dick Naven* in progress Utah see Rust Washington Dick Naven* in progress Wyoming * Names marked with an asterisk responded to a recent questionnaire on the status of their projects. I wish to ex- press my appreciation to each of them for their input. It is an enormous task to get one of these state catalogs ready for publication. Locating the notes, obtaining the quality black and white photographs of them, doing the research on the issuers and the state, and getting it all down in a word processing format, i.e. doing all the writing and typing, can take years. Many of our volunteer authors have full-time jobs and other responsibilities that re- quire their attention. A number of states are not being researched by anyone and several others are sitting dormant because of the pressure of other business. We urgently need volunteers who have the time to put into such an effort if we are ever going to achieve our goal of a catalog for every state. Please volunteer to help if you can, or submit your good ideas on how the Society should proceed from here. ■ Paper Money Whole No. 175 Page 19 The TYPF, or VARM;TY Dilemma for Collectors and Catalogers by STEVE WHITFIELD © 1994 What makes a note different enough to deserve its own catalog space and number, and what notes are sufficient to constitute a "complete" collection? T HERE are several factors that give a note its unique characteristics. These include the plate from which the note was printed; the stage or level of completeness of the note; items added to the note after printing, such as signa- tures or stamps; the way in which the note was cancelled or redeemed; the color or colors of inks used; the number of plates used, to include undertints or overprints; the method of production, such as proof, or routine ciculation printing; the purpose of the note, i.e. essay or specimen versus a circulating note; the position of the note on the printing plate which de- termines the plate letter; and the paper used for the note. All of these factors may contribute to minor variations of a basic note design. Additional varieties were created when genuine notes were counterfeited, altered, or raised in denomination. A unique design obviously creates a "type" that warrants cataloging and collecting. The identical design used for a different denomination from the same issuer would also be considered a type note. But, if the plate were changed very slightly, such as location of the cashier's signature, or addition of a countersignature line, would such a note be a variety or a separate type note? And, if identical notes had different hand written places of redemption added, would they be different "types" or would one simply be a variety of the other? Would the answer vary if the different redemption locations were en- graved on the plates rather than being handwritten? And, if a plate was reused by a successor printer with a new logo added, would it create a "type" note or a variety? If that same note was improved or updated by adding a color tint or back design, would the later notes be "types" or varieties? And so it goes. Clearly we need to establish some ground rules. Coin and stamp collectors have the same problem; someone was always messing around with a perfectly good de- sign, or "type" note, stamp, or coin by making minor changes or improvements. Most collectors are only interested in aquiring major "types," while the dedicated specialist looks to obtain every minor variety of an issue for detailed study. For purposes of cataloging note issues, I believe that all varie- ties of every note should be listed under the basic "type" design. Varieties would not receive a unique catalog number, as re- served for "types," but instead would get a subscript added to the basic "type" number. Therefore, all that remains is to estab- lish the rules on what constitutes a "type" note. As we do this, we should keep in mind the following questions: I. Do the notes appear different enough that the average col- lector will want to obtain both of them? 2. Are the notes available (affordable) enough to collect? 3. Is there a truly significant difference in the notes? First, any note with a unique design, including vignettes, denomination, or printed place of issue will always constitute a separate "type" note and be given a unique catalog number. Anything added after the note was printed, such as signatures, stamps, or handwritten locations, will be considered as a va- riety of the basic type design. All counterfeits and alterations will be listed as varieties. Corrections made to plate errors, such as spelling for subsequent printings, are considered varieties. Proofs, specimens, essays (including color trials), and notes printed on different paper, i.e., which may indicate the in- tended purpose for the note, are also varieties. The stage of completeness of the note, such as trial proofs, faceplate print without overprint, or face only without back printing, will also be listed as varieties. Plate position differences are varieties, as are minor plate changes, such as "cashier" substituted for "banker," a printed date replacing a written date, or different printed dates for otherwise similar designs. Different printer logos on the same plate and the presence or absence of over- prints, to include machine serial numbers, are varieties. There are at least three major differences that will always be considered as separate "type" notes. The first is any title change for the bank or other issuer made on the plate. The second is any change in the wording of the redemption clause. This is considered to be significant because it probably reflects changes in the economic conditions at the time of issue, which may be the reason for the note issue. And the last "type" will be where major changes are made in other printed text on the note. What constitutes a "major' word change, thereby creating a "type" note as opposed to "minor" word changes creating only a variety, will be left to the judgement of the cataloger. One ex- ample that comes to mind would be a change in wording caused by political legislation, such as a guarantee requirement. All other rules on types and varieties are non-negotiable and will remain inviolate until someone writes some new ones. A major consideration in the question of "type" versus "varie- ties" for albums should be the wants and needs of the collector. Often, major designs, or "types',' are the only issues collected because it would be too expensive to pursue all the minor vari- eties of every similar design. And, most varieties are not readily noticeable to the casual observer. Therefore, the creators of col- lector albums need to know what the "types" are, since most collectors don't want a larger, more expensive volume con- taining costly varieties they will never own anyway. From the '•`•!!!`..••••••••• ••••••■........., 9. eiti L., LER EffilgP0'0111°4 lecf , r. iwrre rar.'nt Ear h f«, e'!„„ trbt , Tre.t,v?e; $11/11,1' o.yr. DoLi_t Far( scot:, h,pnaaR, xc,T„ TiOtt iSf% 1'; omiCC3 `, cENTs RRRItt „ _ett; CletaA::go- Bo; A Norm nese ote$ are redeemaile, trAcn prrst in sums of ONE DOLL, Fort SCOiti Oct., 2Sili 18,,. • Page 2 0 Paper Money Whole No. 175 25c 'Type" note. This is the issued version of this merchant's scrip, dated Nov., 10th 7862. 25¢ Type note or variety? Although this note has a different date than the "type" example, along with some other differences, it is considered a variety. It may have been a trial note leading to the final design. $1 'Type" note. This note is complete and ready for signatures. It has a unique design and a red overprint "ONE" ,vt`f t, on 4 1 ril titCee •—■ it e,..> • r . VEER BROVBRS BANK / ONE DOLLAR .tv • :;,-;••;: Leav-eiiw o Vol./ Lv Paper Money Whole No. 175 Page 21 $1 Type note or variety? Although very similar to the "type" note above, this note has a different printed location so it is consid- ered a separate "type" by our rules. $1 'Type" note. The note has a unique design and the location is indicated as "Ft. Leavenworth." $1 Type note or variety? This note is printed on heavy paper, has no red overprint, and the redemption clause is incomplete. It is considered a variety. It may have been a trial note leading to the final design. (Continued on page 23) Page 22 Paper Money Whole No. 175 MY SUMMER VACATION A Visit to the Higgins Museum by BOB COCHRAN T HIS past August, my wife Sandy and I took a few days off and visited the Higgins Museum in Okoboji, Iowa. This was her first visit to this beautiful part of America, and my second. This trip was prompted by a comment from the museum's curator, John Hickman. When I visited the museum several years ago, their library was in much disarray. They had just received several hundred volumes of banking-related material from The Chase Manhattan Bank reference library, and most of it had not been looked through or sorted. I mentioned to John that I would really look forward to the opportunity to go through their material when I could spend more time at the museum. Last year, during the Professional Currency Dealers Association show in St. Louis, John told me that the material from The Chase Manhattan Bank had been unboxed and cataloged, and he invited me to come up and take a look. The Higgins Museum is dedicated to the preservation and display of notes and artifacts of national banks. As such, the li- brary contains a significant reference item for the serious stu- dent of national banks and their paper money issues—a complete set of Reports of the Comptroller of the Currency. This is a remarkable accomplishment, as I would imagine no more than one or two other complete sets exist, if any. Some collectors might consider government reports "dry" and unin- teresting, but if you really want to know about the laws, people, activities, and in general the "why" and "how" of national cur- rency, these reports are the best source of information. The library also contains many, many excellent banking his- tories, both of individual banks and states. Some of these works are quite scarce. Of course the library contains all of the standard reference works about U.S. paper money, but in- cluded in this section are several very scarce works produced in the early 20th century, and not often found outside of large libraries. I was surprised to find that the library also has a large number of reference materials about world currency and banking, including extensive sources of information about Eu- rope and the Middle East. The last time I visited the museum I was unable to spend as much time as I would have likecj viewing the incredible collec- tion of national currency on display. The three major collec- tions of the museum are notes from Iowa, Minnesota and Missouri. Notes from the three states are displayed in four wings of the building. John told me the story behind the founding of the museum. He had met William R. (Bill) Higgins, Jr. at one of the Central States Numismatic Society meetings during the 1960s. John said that the show was one of the most beneficial that he had ever attended, in that he met and became friends with Del Bert- schy, Chet Krause and Bill Higgins at the same show. At the time Mr. Higgins was an advanced collector of crowns of the world, having sought these elusive coins for over thirty years; when his collection was sold it was the largest in private hands anywhere in the world. Mr. Higgins had been raised in nearby Spencer, Iowa, and was the Mayor of Okoboji from 1960 to 1974. At one point John offered to sell him a national currency note from Terril, Iowa, a town located about twelve miles from Okoboji. John recalled that the price of the note was about $30. Higgins wasn't interested in the Terril note, but told John that he would definitely be interested in acquiring a note from one of the na- tional banks in Spirit Lake, only a few miles north of Okoboji. John knew that the fabled Albert Grinnell Collection had contained a $100 Second Charter note from the First National Bank of Spirit Like, so he filed Mr. Higgins' comment in his mind. Several years later John was attending one of the Memphis paper money shows, and was at the table of Amon Carter, Jr. waiting for the announcement that the show was open to the public. John said that Mr. Carter would not show anyone any of his material until the show was officially opened. There were several dealers gathered around Mr. Carter's table, and each of them was handed a stack to look through when the announcement was made. John was standing next to Lyn Knight, and each was going through a stack of notes handed them by Carter. With his peripheral vision, John just happened to notice that Knight had paused while going through his stack, and was taking a long hard look at—the $100 note from the First National Bank of Spirit Lake! The note was priced very reasonably for such a rarity, and John tried to stay calm while he waited for Knight to make his decision, keeping his eyes on Knight and the stack of notes. John finally had a chance to breathe a few moments later, when Knight placed the entire stack back down on top of Mr. Carter's table. John's description to me of his next move: "I latched onto that stack of notes as quick as a lizard snapping a bug with his tongue' (Close your eyes and think about that statement for a moment, and you'll get a good mental picture.) According to John, the elapsed time between Knight putting the stack down and the stack being in John's hand was less than a second. John purchased the Spirit Lake note, and arranged a meeting with Bill Higgins, who eagerly bought it from John. This note generated the spark of interest in Mr. Higgins, and the idea of forming a collection of Iowa nationals was born. Over the suc- ceeding years Mr. Higgins formed a spectacular collection of Iowa nationals, acquiring individual notes and purchasing the holdings of other collectors. In 1973 and 1974, Mr. Higgins di- sposed of his collection of crowns, and the proceeds from the sale were applied to the erection of the Higgins Museum. Later, extensive collections of Missouri and Minnesota nationals be- came available, and were acquired by Mr. Higgins. The basis of the Missouri collection was formed by the late Dr. Howard Carter of Hamilton, Missouri; subsequent acquisi- tions have made it the most complete in existence. Among the many scarce and rare notes is a unique First Charter note from Knob Noster, one of Mr. Higgins' personal favorites. Of partic- Paper Money Whole No. 175 Page 23 ular fascination for me is the large group of notes issued by St. Louis banks, one of my personal collecting interests. The Mis- souri collection contains over 200 notes, and includes an uncut sheet of $5 Red Seal notes from the City National Bank of St. Louis, and an uncut sheet of Brown Back notes (3 $10s and a $20, no less) from the Mechanics National Bank of St. Louis. The uncut sheets from these two rare banks represent about half of the notes known from each institution. Several years ago my friend Ron Horstman traded Bill Higgins a $5 Red Seal note from the City National, and I made up my mind that I would one day own that note. It took me a few years, but I turned tip a 1919 note from The Hamilton (Missouri) National Bank, a note neither Dr. Carter or the Higgins Museum had ac- quired. After two years of negotiations on my behalf by John Hickman, Mr. Higgins finally agreed to trade the $5 Red Seal for my note, but I had to kick in $10 to "sweeten the pot!' The Minnesota Collection is also one of the most complete in existence. Among the blockbuster pieces on display are a number one First Charter Original Series $1 note from The First National Bank of Northfield, famous for the attempted rob- bery by the lames-Younger gang in 1876. A unique note is a Third Charter Blue Seal $10 note from The First National Bank of Sleepy Eye Lake, the only note known to exist with that title. As impressive as these collections are, they are exceeded by the notes from Iowa displayed in two rooms. There were 496 national banks in Iowa which issued notes; these banks were located in 300 different communities. The Higgins Museum collection has notes from 284 of the 300 towns—a remarkable achievement. Remember the Terril, Iowa note mentioned earlier? That note is on display here, and it was acquired for a substantially higher price than when John originally offered it to Mr. Higgins. In addition to the three special collections on display, representative notes from each state and several territories are on display in the central "hub" of the museum. The most spec- tacular grouping of notes, and the one which will (and should) capture the attention of even the most advanced or specialized paper money enthusiast, is a collection of 1902 Series Red Seal notes, representing each state and the territories of Alaska and Puerto Rico! Nearly a dozen of them are No. 1 notes. This is the most extensive set of these notes anywhere, lacking only a note from Hawaii to be complete. None is known to exist, but if it did I'm sure the Higgins Museum would find a way to get it. I spent the better part of two days in the museum. While I was there several visitors came in; all of them were given a per- sonal tour by John, who obviously enjoys his work. Many prominent collectors have visited the museum over the years, both to view the wonderful material and to collaborate with John on his census of national currency. I would heartily recommend that every serious collector visit the museum. It's truly "a place just for us:' John is present at the museum beginning the week after the Memphis International Paper Money show; it closes Labor Day. The museum is open from 11 AM to 5:30 PM Tuesdays through Sunday. If you're wondering what the rest of your family will do while you're drooling over all the great notes on display, be as- sured that they won't be bored. The lakes are spring fed, so the water is very clear. There are numerous swimming beaches, boating, amusement parks, golf courses, historic sites, antique malls, specialty shops, etc.; and make sure you see the beautiful campus of the University of Okoboji. I can also relate from per- sonal experience that the many restaurants in the area offer a variety of excellent cuisine at reasonable prices with pleasant surroundings. Okoboji is located in extreme northwestern Iowa, between East and West Okoboji Lakes; Spirit Lake is a few miles to the north and east. Okoboji is about 20 miles south of Interstate 90 as it runs across the lower border of Minnesota. Depending upon where you're coming from, it can be a long drive (in my case, it's 12 hours one way) but it is definitely a most rewarding experience. For those who are able to travel by private aircraft, the local airport is right next door to the museum. John was kind enough to give me a supply of brochures describing the museum, and illustrating some of their notes. If you'd like a copy, please send me an addressed, stamped business-size envelope and I'll be happy to send you one. Bob Cochran P.O. Box 1085 Florissant, MO 63031 DILEMMA (Continued from page 21) specialist's or researcher's view, the identification of all varieties is extremely important for whatever clues each detail may offer to the history surrounding the issues. Therefore, all varieties, no matter how minor, should be included in the catalog. Some collectors narrow their collecting focus even further in order to have a better chance of success at completion. Com- pletion is important for anyone considering exhibiting their collection. Further reduction in the scope of a "complete" col- lection can be achieved by leaving out "type" notes with the same basic design that were issued in different denominations. Other "types" may also be omitted, including changed redemp- tion clauses or different issue locations on otherwise similar appearing notes. Even title changes on similar "type" notes can be left out for simplicity, along with similarly designed notes of different issuers. For example, it is probably sufficient to collect only one specimen of the stock notes used by various mer- chants. In this case the only criteria for inclusion in a complete collection would be a distinctly different face design as deter- mined by layout and vignettes. Exhibits based on the above listed premises will also be more interesting to the general public. Another issue facing the cataloger/collector is where to illus- trate back designs for notes and whether to include similar back designs that only vary by denomination. If the collector is to be considered, here again we should probably only illustrate the truly different back designs, thereby reasonably challenging him or her to obtain examples of major types only. Backs should probably be illustrated on separate album pages from the face illustrations, in case the collector wants to re- move those pages. However, in catalogs, backs should be illus- trated in conjunction with faces. In the interest of catalog space, similar designs should only be included once until someone comes up with a better idea. So, there you have it, all you need to know about "types" and varieties of bank notes and scrip. This should clear up any con- fusion about this topic, at least until the next collector or cataloger expresses an opinion. Page 24 Paper Money Whole No. 175 COMPOUND INTEREST TREASURY NOTES with the Incorrect Act Date a second look by GENE HESSLER I N PAPER MONEY (1985) I reported on the $50 com- pound interest treasury note that bore the Act of July 2, 1864, an incorrect date. Two recent discoveries prompted me to take another look at this phenomena. However, before we progress further, the original 1985 article is reprinted here: For those of us who are interested in uncovering the circum- stances that relate to the issuance of all types of fiscal paper, there is a phenomenon that we experience more often than not. During the investigation of a subject, invariably a topic of equal, similar or contrasting interest will come to our at- tention. While looking for something else in the index of The New York Times for the year 1885, I stumbled on the subject that will follow. The article will give all the necessary background. A MISTAKE IN THE DATE ANNOYING THE OLDER TREASURY OFFICIALS. AN IRREGULARITY FOUND IN PRINTING THE COMPOUND INTEREST NOTES— WASHINGTON, July 7.—Some of the older Treasury officials are much annoyed at the discovery just made that a number of fifty-dollar compound interest notes issued in 1864, and recently redeemed, bear upon their face the wrong date of the act under which they were issued. This is also the case with a lot of ten-forty coupons is- sued the same year, which are now found to be dated a year in ad- vance of their enabling act. In passing upon the accounts and vouchers of the United States Treasurer the First Auditor's office discovered a compound interest note already canceled which from its general appearance created the suspicion that it might be counterfeit. The suspected note, with a few genuine ones, was sent to the Bureau of Printing and En- graving for expert opinion. They were all pronounced good, but at- tention was called to the fact that the date of the act authorizing their issue had evidently been changed on the plate. This caused First Auditor Chenowith to hunt after the act referred to, but he could not find it in the Congressional Globe on the date indicated, July 2, 1864. Further search among redeemed compound interest notes showed that some were apparently authorized June 30, 1864, and some July 3, 1864.* In the Congressional Record of July 2 was found an act passed June 30, but nothing subsequent to that in the way of amendment rewarded the closest search. Secretary Manning could tell nothing about it, neither could Treasurer Jordan. Finally when all the officials got together the conclusion was reached that * This appears to be a misprint. The other authorizing act was passed on 3 March 1863. there was nothing fraudulent in the matter. Whoever had issued the order for the engraving of the compound interest note plate had read the law passed lune 30, 1864, in the Record of July 2, 1864, and had taken it for granted the act was passed on the date under which it was printed. Then employes who had been in the department during the war remembered that this error had been discovered in a few days and that orders were given to change the date on the plate. In all these years nothing had occurred to call close attention to the notes and the circumstance was forgotten. The First Auditor was certain at first that a grand steal had been unearthed, but now that it is satisfactorily explained he thinks that the circumstance is evidence of the condition of things at the seat of Federal Government during the last year of the war. The dis- covery has set the clerks in the department rummaging through a lot of old redeemed war issues. They have found that the date of the enabling act of the ten-forty coupons was printed March 3, 1863, when it should have been 1864. Other errors of this kind will prob- ably be found, now that everybody's attention is directed to dates. Controller Cannon does not think there is anything surprising in these cases, considering the time and circumstances under which the money was issued. On 14 July there was an article that reconfirmed many of the statements in the earlier one. Controller 'sic] Durham decided that the note was genuine, issued under and by virtue of the Act of 30 June 1864. He went on to say that "the note conforms in every par- ticular to the requirements of said act; that it was unnecessary to in- scribe on the note the date of the act under which it was issued; that the inscription on the note, 'July 2, 1864; was done through mistake. 'The Controller 'sic] cites several decisions of the Su- preme Court to sustain his decision!' He estimated that about $15,000,000 of the erroneously dated notes were issued, and approximately $10,000 were outstanding at the time. Upon reading, or hearing about the mistake in printing, most citizens, at that time, were probably anxious to redeem the "error" notes. If such a mistake occurred today, collectors would be searching for the notes, even willing to pay a premium to get one. At the 1991 ANA convention I met SPMC member Mark Hotz. He showed me a $10 compound interest treasury note with the same incorrect date of July 2, 1864. All known notes of this type bear the Act of March 3, 1863 and are dated June 10, 1864, or the Act of June 30, 1864 and are dated July 15, August 15, October 15 or December 15, 1864. Consequently, most ob- servers said Mark's note with serial number 8275 was a counter- feit. He wanted an explanation for this oddity, so I referred him ,L,r aari, d I14:81 24/. i/////v/t // .1,V7.11,11ti.ae'l 4it 1/11 411.1. 1p :,41-74", 3,317-3 4:4From__In.13 40111.111111 Paper Money Whole No. 175 Page 25 One of two known $10 interest-bearing treasury notes with the incorrect Act of July 2, 1864. The portrait of Salmon P. Chase was engraved by Charles Burt; the Eagle of the Capitol was engraved by James Bannister. The female figure on the right cannot be attributed. to the article reprinted here. This reminded me that I had a photograph of another $10 note of the same type, also with the same date, that I had never written about. The New York Times account of the $50 never mentioned other denominations. We now know that the same mistake was applied to $10 notes and could, therefore, suggest that $20 notes might have received the same imprint. Both $10 notes, one with serial number 8275, the other with 9592, lack the "Treasury Department" credit, and both were dated July 15, 1864. In every other respect they are precisely the same. U.S. Treasury Department records indicate that both the Continental Bank Note Company and U.S. Treasury printed these notes. Perhaps the notes without a credit line were printed by the private bank note company. Sources Gengerke, M. (1989). United States paper money records. NYC: published by the author. Hessler, G. (Jan./Feb. 1985). Compound interest treasury note, an in- correct date. PAPER MONEY vol. XXIV, No. 1, p. 18. (1992). The comprehensive catalog of U.S. paper money. Port Clinton, OH: BNR Press. My thanks to Mark Hotz for showing me his $10 note, and my apology for deleting his name from the acknowledgments in the fifth edi- tion of The Comprehensive Catalog of U.S. Paper Money The Starts Here A Primer for Collectors by GENE HESSLER A MONG PAPER MONEY collectors who collect by topic, boats and ships are probably the most popular. One could present a history of boats and ships with illustrations on bank notes. The Arab dhow, the Chinese junk and just about every other type of sailing vessel, including bat- tleships, have been used to decorate bank notes from around the world. The list of boats and ships on bank notes is so extensive-1 have counted over 100 countries—that it should be easy to find numerous notes at modest amounts. Due to the popularity of this subject, one dealer (Boats of Note, P.O. Box 2901, Cherry Hill, NJ 08034) issues price lists under the heading of Boats of Notes. If you plan to pursue this topic and you are unable to attend coin and bank note shows, you should have access to the Stan- dard Catalog of World Paper Money, by A. Pick; most libraries have it. Dealers use the catalog numbers from this book to identify the notes they have for sale. The dhow, a fixture in the Persian Gulf for centuries, can be seen on at least two notes from Bahrain, 100 fils, P1 and 1/4 dinar, P2. The price for each should not exceed $7. The 1 piastre from French Indochina, with two junks, will cost about $6 in uncirculated condition. From the same source there is a 1 piastre, P76, with a sampam; the cost is about $2.50. An example of a Chinese junk can be found on 1 yuan, P78. The notes of China also include an ocean liner; one example is jai* . F000001 A f NEWTON NATIONAL BANK NEWTON MASSACHUSETTS yTEA IHIId.Uiti F000001A Page 26 Paper Money Whole No. 175 the 5 yuan, P157. A pristine example of the former will cost about $10, the latter will cost about $3. The back of the 100 escudo note from Chile, P110, is domi- nated by a sailing ship; the cost should not exceed $3. An even larger schooner fills the back of the 1,000 peso note, P269, from Argentina. The suggested price for this note in the Pick book is $15 in uncirculated condition. The 1992 commemorative $1 note from The Bahamas honors Columbus. On the back there are three ships that represent the ships associated with the first voyage of Columbus. The Baha- mian dollar and the U.S. dollar are at par. However, there is a restriction that places a limit of $60 that may be taken out of The Bahamas. Even with this restriction, the attractive Bahamas $1 note is available from dealers in the U.S. for about $2.50. The Battleship New York is the subject of the back of the U.S. $1, 1918 Federal Reserve Bank note. The image of this World War I battleship was engraved by C.M. Chalmers. In extra fine condition this note will cost approximately $175. Here again, a souvenir card comes to the rescue. In 1988, to honor the Convention of the American Numis- matic Association, the Bureau of Engraving and Printing issued 10,000 souvenir cards with this uniface design printed from the original engraved plate. As a substitute for the note, the sou- venir card will do nicely. It is available from paper money or souvenir card dealers for about $10. This is just a sampling of boats and ships on bank notes. By going through a dealer's stock of notes you will notice many notes with this subject, and there are always new issues. Bon voyage. (Copyright story reprinted by permission from Coin World, October 25, 1993) Small-Size NATIONAL BANK NOTE Surfaces by BOB ANDREWS I grew up in Newton, Massachusetts and graduated from the Newton school system many years ago. My first home was mortgaged through the Newton National Bank forty-five years ago. Although I have been specializing in Maine small-size national notes, my earlier years in Newton created my special interest in this Newton National Bank note. A BOUT two years ago I met a gentleman who was dis-posing of his long-time collection of coins and paper money. I had been recommended to him by a mutual friend who knew of my numismatic background. I spent many hours with this gentleman cataloging his coins and trying to come up with some idea of values for him. Since the major por- tion of his collection had previously been sold, the remaining countless cigar boxes and rolled coins, original bank wrapped, were mostly pennies. Among other things, he had been a bank officer as well as a bank auditor. This had spurred his interest in coins and paper money. Over the course of several weeks this gentleman and I ex- changed many stories regarding our past experiences. He said he had an original small-size national bank note, and offered to show it to me on our next meeting. What a pleasant surprise to go through the various envelopes of carefully preserved notes and find this choice uncirculated Serial number 1 note from the Newton National Bank! He knew the note meant a lot to me, and he offered to sell it to me as a token of his apprecia- tion for the help I had given him. It is the only Serial number 1 note I have ever owned, and it has been the center of attraction at our monthly CCNE (Coin Club of New England) "Show and Tell" sessions. PAPER MONEY TIDBITS by BOB COCHRAN Quick quiz—what SPMC officer once signed LARGE-SIZE na- tional currency? Give up? The correct answer is former SPMC Treasurer I.T. Kopicki. Mr. Kopicki, who passed away in 1970, was formerly the As- sistant Cashier of the Lawndale National Bank in Chicago. According to Dennis Forgue, Mr. Kopicki signed just a few sheets of large-size currency in his capacity of Assistant Cashier. One of those sheets, a 1902 Series Plain Back $5-5-5-5 bearing matching serial numbers 9740, and signed by Mr. Kopicki, was Lot 1135 in the Illinois Numismatic Association Auction Sale held on September 10 & 11, 1982. The sale was catalogued and conducted by Auction Galleries of Oakbrook, Ltd. Lot 1135 is illustrated in the sale catalog. Paper Money Whole No. 175 Page 27 Catalog of Enveloped Postage by MILTON R. FRIEDBERG (Continued from No. 174, page 208) Address City State Numerical Value Value Message Flap Printed Pedigree Catalog Number Paper Ink Commentary Numerical Value Word Value Value Message Flap Printed Pedigree Catalog Number Paper Ink Commentary Numerical Value Word Value Value Message Catalog Number Paper Ink Commentary Used By Advertising Message Address City State Numerical Value Word Value Value Message Flap Printed Pedigree Catalog Number Paper Ink Commentary Used By Advertising Message Address City State Numerical Value Value Message Flap Printed Pedigree Catalog Number Paper Ink Commentary Used By Advertising Message Address City State Numerical Value Value Message Flap Printed Pedigree Catalog Number Paper Ink Commentary Used By Advertising Message 158A WHITE 67x33mm BLACK U.S./POSTAGE STAMPS. SONNEBORN Stationer and Printer 130 Nassau-st. (NY) Note missing N.Y. (NY) 25 Cts. 25 Cts. MISSING MOREAU 159 WHITE BLACK POSTAGE STAMPS TAYLORS' HOTEL, KEPT ON THE EURO- PEAN PLAN OPEN AT ALL HOURS J. TAYLOR N.D. TAYLOR EXCHANGE PLACE JERSEY CITY N.1. 25 (THIN TYPE) 25 CENTS, Postage Stamps, 25 COLE (LOT 4132) 160 WHITE(YELLOW) 70.40mm BLACK POSTAGE STAMPS TAYLORS' HOTEL, KEPT ON THE EURO- PEAN PLAN OPEN AT ALL HOURS 1 TAYLOR N.D. TAYLOR EXCHANGE PLACE JERSEY CITY N.J. 25 (BOLD TYPE) 25 CENTS, Postage Stamps, 25 KRAUSE 133-25, RW X-MOREAU (MISSING FLAP) 161 YELLOW-ORANGE 73.45mm BLACK POSTAGE STAMPS TAYLORS' HOTEL, KEPT ON THE EURO- PEAN PLAN OPEN AT ALL HOURS J. TAYLOR N.D. TAYLOR EXCHANGE PLACE JERSEY CITY N.J. 50 50 CENTS, Postage Stamps, 50 MISSING RW X-SEEMAN LOT 1353, MOREALI 1750 162 WHITE, 2" SQUARE RED THE CHANGE WITH THANKS NONE NONE NONE NO MRF 163 U.S./Postage Stamps. 30 cts. 30 cts 50 CENTS, Postage Stamps, 50 TAYLORS' HOTEL, EXOHANGE PLACE, JERSEY CITY, N.J., KEPT ON THE EUROPEAN PLAN, OPEN AT A I.I. 11011118, J. TATI.0 H. N. D TAYLOR Page 28 Paper Money Whole No. 175 Flap Printed YES Value Message 50 CENTS Flap Message SOLD BY DION THOMAS, Flap Printed NO Flap Address 142 NASSAU STREET, (NYC, NY) 30 Pedigree RW X-SEEMAN LOT 1353 Pedigree HOOBER Catalog Number 169 Catalog Number 164 Paper WHITE Paper YELLOW Ink BLACK Ink BLACK Commentary U.S. STAMPS. Commentary UNITED STATES STAMPS Used By TICKNOR & FIELDS, Used By R.D. THOMPSON Advertising Message TICKNOR & FIELDS, PUBLISHERS, Address 152 WILLIAM ST. Address 135 WASHINGTON STREET, City N.Y. City BOSTON. State (NY) State (MASS.) Numerical Value 10 Numerical Value 50 Value Message 10 CENTS Value Message 50 CENTS. Flap Printed NO Flap Printed NO Pedigree RW X-CHAS. AFFLECK Pedigree DF Catalog Number 165 Catalog Number 170 Paper Paper Ink Ink Commentary UNITED STATES STAMPS Commentary U.S. POSTAGE STAMPS Used By R.D. THOMPSON Used By G.W. & S. TURNEY Address 104 FULTON ST. Address 77 CHATHAM ST, City N.Y. City N.Y. State (NY) State (NY) Numerical Value 25 Numerical Value 25 (6mm HIGH) Value Message 25 cts. Value Message 25 CENTS Flap l'rinted Flap Printed Pedigree KRAUSE 139-20 Pedigree KRAUSE 137-25, COLE (LOT 4134) Catalog Number 171 Paper ORANGE-BUFF 72.37mmCatalog Number 166 Ink BLACKPaper DARK TAN 65x41mm Commentary U.S./POSTAGE STAMPS/10 CTS.Ink BLACK Numerical Value 10Commentary UNITED STATES STAMPS Value Message 10 CTS.Used By R.D. THOMPSON Flap Printed MISSINGAddress 104 FULTON ST. City N.Y. Pedigree MRF X-MOREAU (MISSING FLAP AND State (NY) BACK) Numerical Value 25 (8 mm HIGH, BOLD) Catalog Number 172 Value Message 25 CENTS Paper WHITE 63x34mm Flap Printed MISSING Ink BLACK Pedigree HK X-MOREAU (MISSING BACK AND Commentary U.S. POSTAGE/25 CTS./STAMPS. FLAP) Numerical Value 25 Value Message 25 CTS. Catalog Number 167 Flap Printed MISSING Paper YELLOW-ORANGE Pedigree MRF X-MOREAU (MISSING FLAP AND Ink BLACK BACK) Commentary United States STAMPS Printer R.D. THOMPSON Catalog Number 173 Printer's Address 152 WILLIAM ST. Paper TAN (YELLOW-ORANGE) 74x46mm Printer's City N.Y. Ink BLACK Printer's State (NY) Commentary U.S./ Postage Stamps/ 25 Cts. Numerical Value 25 Numerical Value 25 Word Value CENTS Value Message 25 Cts. Value Message 25 CENTS Flap Printed NO Flap Printed NO Pedigree RW X-SEEMAN LOT 1353, KK X-MOREAU Pedigree RW X-SEEMAN LOT 1353 (MISSING FLAP & BACK) Catalog Number 168 Catalog Number 174 Paper BEIGE Paper TAN 73x46mm Ink BLACK Ink BLACK Commentary United States STAMPS Commentary U.S./Postage Stamps/50 Cts. Printer R.D. THOMPSON Numerical Value 50 Printer's Address 152 WILLIAM ST. Value Message 50 Cts. Printer's City N.Y. Flap Printed MISSINGPrinter's State Numerical Value (NY) 50 Pedigree KK X-MOREAU (MISSING FLAP AND BACK) Word Value CENTS (To be continued) Notes From . 3 All Over JudithMurphy Paper Money Whole No. 175 Page 29 Chances are that by the time you read this the F.U.N. show will be history, though I am writing it having just returned from the Michigan State Numismatic Society show in Dearborn, held annually over Thanksgiving weekend. This has posed some- what of a problem for me, the time lapse between deadline and mailing of current issues in that I wish somehow to convey what is happening around the country to those of you who do not attend a large number of shows. I am not certain just how effective that has been. In any case, we had a great time at St. Louis, at the PCDA show in November. It was convenient to have everything under one roof and not have to go outside in the early morning, but instead to be able to go directly from breakfast to the bourse. Plans are, I am told, to have it there for the next several years. At that show, Ron Horstman, our mem- bership director, was presented with the Numismatic Ambas- sador award by David Harper, editor of Bank Note Reporter at the PCDA breakfast. Congratulations! We had a good turnout for the General Membership meeting, where John Wilson an- nounced his candidacy for the ANA Board of Governors, and stated that he hoped he'd find lots of support from his fellow members of the SPMC. Not much doubt about that, John. Again, at St. Louis, the same generous member who donated money last year to the publications committee, doubled that this year, in honor of Gene Hessler, Editor, and Bob Cochran, Secretary; many thanks. Interest in CSA paper and related items continues strong as proved out at the Michigan show, but with fair interest in obso- letes as well. We had a chance to visit with George and Barbara Beach briefly and cannot say too strongly how we admire the valiant struggle this family has carried on against George's leukemia. Our positive thoughts and wishes are with them. I ran into Martin Delger who wanted me to remind you all that the Memphis 1PMS is not that far away and that you need to be planning your exhibits and getting in touch with him in order to reserve your cases. Thinking of Memphis, your Board of Governors met at St. Louis, but lacked one member to make a quorum, so had only a general discussion of several issues. One of these was the membership meeting and awards break- fast; another was whether or not there would be any real in- terest in a cocktail hour and dinner, either seated or buffet. It is planned that there will only be an auction session on Saturday this coming show, so that would leave Friday free for some SPMC social time, if there is enough interest expressed. Drop us a line or talk to any officer or board member as you meet each other and tell us which you would prefer. Hope to see you all at the Strasburg Scripophily Event at the end of January, or perhaps the Paper Money Show in Chicago in February? Until then or next time ....Judith SPMC MEMBERS HONORED BY ANS R. Henry Norweb, Jr and Leslie A. Elam flank honorees Arthur M. Kagin, Frank I. Karen and Eric P Newman. July 15, 1994 marked the occasion of a special meeting at the American Numismatic Society, at which four ANS members— Arthur M. Kagin (SPMC Charter Member), Frank J. Katen (SPMC Member), Eric P. Newman (SPMC Charter Member) and John J. Pittman (former SPMC Charter Member)—were recognized for 50 years of membership in the Society. ANS President R. Henry Norweb, Jr. chaired the meeting which included the presentation to each honoree of a hand- lettered, framed certificate identifying these individuals as Honorary Life Members of the ANS. In introducing the honorees, Mr. Norweb remarked, "Today's program is joyous for several reasons. First, we have the privi- lege of honoring four members of our Society whose loyalty and devotion to this institution stretches back 50 years; truly the modern history of the ANS has been written during their membership.""... I trust that our honorees are pleased with the progress that has been made in these past 50 years." As Mr. Norweb presented the certificates to the honorees, ANS Director Leslie A. Elam remarked briefly on each in- dividual. (Reprinted from Katen's 77th Public and Mail Bid Auction Sale, courtesy of the publishers) Paper Money Index Ready An inclusive index through No. 168 is available for $5 postpaid. A limited number of copies have been printed. You may order your index from Bob Cochran, P.O. Box 1085, Florissant, MO 63031. AN APPEAL TO AUTHORS At the general meeting at the St. Louis Paper Money Show, the subject of more "how to" articles in PAPER MONEY was dis- cussed: grading included. Grading, like learning to play a mu- sical instrument, is best learned by direct application. So, the editor appeals to anyone who would agree to tackle this subjec- tive and difficult subject. If more than one member submits an article on grading, the most comprehensive one will be pub- lished. However, if multiple articles offer points of view that prove to be beneficial to our membership, they, too, will be published. Page 30 Paper Money Whole No. 175 FROM THE SECRETARY'S MAILBAG "I would become a lifetime member, but since I am , I might not get my money's worth!" 'Thank you for the reminder letter. After looking around for that issue of PM and finding it, I got a little surprise: It hadn't been opened ... That issue (NOVEMBER/DECEMBER 1993, CONTAINING THE DUES RENEWAL NOTICE) came when we had a big fam- ily get-together the last part of November. My daughter stayed with us along with her family from Montana. I never got around to reading that particular issue' "Please continue sending PAPER MONEY, and renew my membership in our fine organization" "Appreciate your (reminder) letter regarding membership dues. The dues notice did not go overlooked since has been in a convalescent hospital since the end of October following a stroke. He has been unable to read more than just a short personal note since that time. Your letter just received was very timely because he was ready to renew his sub- scription ... (Ever seen one of those city limits signs which says, "Welcome to Anytown, home of 320 nice people and one old crab"? Well, here's a letter from the crab.) "I'm not renewing my membership in the SPMC. I joined it to learn about the paper money I collect, mainly small-size American currency. To date, after reading about six PM magazines, all I've seen is articles about Con- federate money, both real and phoney, and a few articles on large-size national currency. Also, I joined the SPMC in April '93 and do not like getting a renewal notice six months later:' (This man obviously didn't read the membership agreement, whereby we guaranteed him at least 6 issues of PAPER MONEY for his dues. But it sounds like we ivouldn't have made him happy, anyway) LIFE MEMBERSHIP BONUS REMINDER The life membership bonus first announced in PAPER MONEY No. 159 has been increased to include two engraved sheets. In addition to the sheet of presidential portraits, the anonymous donor has given us an additional 60 engravings of the Statue of Liberty. These two sheets, engraved at American Bank Note Co. together have sold for over $150. The two sheets will be mailed when total payment for life membership has been completed, and I have been notified by the membership director of the final payment. The numbers of the 60 life members to receive these sheets will be published when all have been dispersed. (ed.) NEW MEMBERSHIP COORDINATOR NEW Ronald HorstmanP.O. Box 6011St. Louis, MO 63139 MEMBERS 8720 Lesley Scott, 30024 West Shore Centre, Grand Cayman, Cayman Islands, B.W.I.; C, World hank notes. 8721 George H. Schade, 50 East Dunlap Ave., Phoenix, AZ 85020; C. 8722 Ted A. Gilliom, 4099 S. 50 W., Albion, IN 46701; C, U.S. fed- eral & obsolete notes. 8723 Daniel Levitt, 5855 Carlton Way, Hollywood, CA 90028. 8724 Roger Holland, 4901 Hatton Point Rd., Portsmouth, VA 23703; C, U.S. lg. size notes. 8725 Robert A. Neilson, P.O. Box 98, Bogalusa, IA 70429; C&D. 8726 M.G. Massey, P.O. Box 160, Bogalusa, LA 70429; C&D. 8727 Leon Farmer, Ir., P.O. Box 7548, Athens, GA 30604-7548; C. 8728 Evelyn Koch, 101 Brown P1., Lindenhurst, NY 11757; C. 8729 Rick Trembley, 6513 Sugarbush Dr., Orlando, FL 32819; C. 8730 William F. Smith, Jr., 325 Armitage Dr., Monroe, MI 48161; C, Monroe, MI obsolete & Nat. BN. 8731 David Smith, 19 King St., Pennsville, NJ 08070; C. 8732 Kelly Jones, 539 Greenmont Dr., Canfield, OH 44406; C, Lg. size sil. certs. 8733 Roger A. Heller, 3021 Pebblestone Circle, Las Vegas, NV 89117; C, U.S. currency. 8734 Igor Zhuravliov, P.O. Box 369, Vilnius 2006, Lithuania; D, Paper money & coins. 8735 K. Atwell, 1616 Victory #201 Box 3784, Glendale, CA 91201; C&D, Lg. size notes. 8736 Kenneth Margicin, 117 Holmes Ave., Trenton, NJ 08610; C, l.g. size notes. 8737 Allan Bormel, 7224 Denberg Rd., Baltimore, MD 21209; C, Colonial & frac. notes. 8738 Kevin Gillespie, 84 Bon Aire Cir., Suffern, NY 10901; C, U.S. currency. 8739 Daniel Zapora, P.O. Box 1190, Barre, VT 05641-1190; C, Error notes. 8740 David S. Willis, 123 Marlboro Farms Rd., Rocky Point, NC 28457; C. 8741 T.R. Bischetsrieder, 4265 Carlton Pl., Yorba Linda, CA 92686; C, U.S. lg. & sm. size notes. 8742 Raymond Reling, 5902C Gunbarrel Ave., Boulder, CO 80301; C. 8743 Louis Nanni, 65 Maple Hollow Rd., New Hartford, CT 06057; C, U.S. lg. size notes. 8744 John J. Gerard II, 32 Central Ave., Midland Park, NI 07432. 8745 Jon Botham, 90 W. Juanita Ave., Gilbert, AZ 85233; C&D, U.S. lg. size & sm. size error notes. 8746 Larry Klubert, P.O. Box 771445, Lakewood, OH 44107; C, Colonial & U.S. currency. 8747 Corey Campbell, 5539 Garth Ave., Los Angeles, CA 90056; C. 8748 David 1. Lynch, 13217 Tifton Dr., Tampa, FL 33618; C, Col. & cont. notes. 8749 Don M. Stiller, RR 4 Box 4046, Belton, TX 76513; C, C.S.A. & Texas. 8750 I. David Fraser, 14 Winchester Dr., Merrimack, NH 03054- 4507; C, Small-size U.S. notes. 8751 Carl Davis, 131 Loraine Forest Dr., Macon, GA 31210; C. 8752 Ray Menzel, 1606 Cavalier Court, Wheaton, IL 60187; C. 8753 Robert W Young, P.O. Box 13023, Fort Wayne, IN 46866; C, U.S. 8754 R.T. Nores Jr., 2311 Helen Rd., Fallbrook, CA 92028; C. 8755 John Kaiser, P.O. Box 81, Moose Lake, MN 55767; C. 8756 Cameron C. 'Frolic), 1 Sandy Run Rd., Yardley, PA 19067; C. 8757 David F. Sheffner, 2408 West 111th St., Chicago, IL 60655; C. 8758 Lanier Porter, 18604 S.W. 294 Tern, Homestead, FL 33030; C&D, large-size U.S. notes. 8759 Armen Enkababian, 8 Ballymena Ct., Catonsville, MD 21228; C, Foreign & large-size U.S. notes. 8760 David W. Porter, 240 Cardinal Dr., Bloomingdale, IL 60108-1317. 8761 James H. Loyd, 4207 Reynosa Dr., Austin, TX 78739. 8762 Mark Schiffer, 5 Fay Court, Wayne, NI 07470; C&D, World & U.S. BN. Paper Money Whole No. 175 Page 31 8763 John E. Brawley, 2100 Brickell, Miami, FL 33129; C. 8764 Richard J. Rice, 12901 Benvenue St., Los Angeles, CA 90049; C. 8765 Arthur DeMeo, 15261 Amalia St., San Diego, CA 92129; C. 8766 Dennis Terwilliger, 240 Eagleton Lakes Blvd., Palm Beach Gardens, FL 33418; C. 8767 Warren Heistand, P.O. Box 15856, Long Beach, CA 90815; C. 8768 Jeff Sommer, 66 South St., Jersey City, NJ 07307; C, U.S. & C.S.A. 8769 R.T. Graves, 157 Pinion Woods Drive, Sedona, AZ 86351. 8770 Doug Robinson, 65 E. Colorado Blvd., Pasadena, CA 91105; C&D. 8771 John Butler, Jr., P.O. Box 33732, Las Vegas, NV 89123; D&C. 8772 Richard Perricelli, 1449 Overing St. 14-D, Bronx, NY 10461; C. 8773 William W. Billington, 282 Harding Place, Nashville, TN 37205; C, TN Nat. BN. 8774 Mark E. Fisher, P.O. Box 790, Carpinteria, CA 93014; C, U.S. & world currency. 8775 Brad Vautrinot, 133 Commander Shea Blvd. #207, N. Quincy, MA 02171; Lg. size type notes. 8776 Adam Thurston, 7406 Drew Lane, Fredericksburg, VA 22407; C, Lg. size notes. 8777 Herbert R. Somers, 8044 Greenvalley Dr., Grand Blanc, MI 48439; C, U.S. currency. 8778 Steven R. Statland, 8108 Chelaberry Ct., Gaithersburg, MD 20879; C, U.S. currency. 8779 Michael Tomanich, 3939 Saratoga Ave., E106, Downers Grove, II. 60515; C. LMI70 Greg Martin, 5311 W. Broad St., Columbus, OH 43228; C&D. LM171 Peter Johnson, conversion from 8610. LM172 Raymond Jacobacci, 1326-43 St., Brooklyn, NY 11219, conver- sion from 8692. LM173 Consortium Consolidated Corp., M. Anderson, P.O. Box 7274, Johannesburg, South Africa. 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 moneymart Paper Money will accept classified advertising from members only on a basis of 150 per word, with a minimum charge of $3.75. The primary purpose of the ads is to assist members in exchanging, buying, selling, or locating specialized mate- rial 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 l'aper Money Collectors, and reach the Editor, Gene Hessler, P.O. Box 8147, St. Louis, MO 63156 by the first of the month preceding the month of issue (i.e. Dec. 1 for Jan./Feb. issue). Word count: Name and address will count as five words. All other words and abbreviations, figure 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 ERN block letters, $1 SC, U.S. obsolete. John W. Member, 000 Last St., New York, N.Y. 10015. (22 words: $2: SC: U.S.: FRN counted as one word each) OLD STOCK CERTIFICATES! Catalog plus 3 beautiful certificates $4.95. Also buy! Ken Prag, Box 53IPM, Burlingame, Calif 94011. Phone (415) 566-6400. (182) WHITEHALL, NEW YORK MATERIAL WANTED FOR PERSONAL COLLECTION. Looking for any material pertaining to Whitehall, New York including nationals, obsoletes, city scrip, private scrip, advertising notes, bank histories, etc. Jeff Sullivan, P.O.B. 895, Manchester, MO 63011. (175) OHIO NATIONALS WANTED. Send list of any you have. Also want Lowell, Tyler, Ryan, Jordan, O'Neill. Lowell Yoder, P.O.B. 444, Holland, OH 43528, 419-865-5115. (185) NEW JERSEY—MONMOUTH COUNTY obsolete bank notes and script wanted by serious collector for research and exhibition. Seeking issues from Freehold, Monmouth Bank, Middletown Point, Howell Works, Keyport, Long Branch, and S.W. & W.A. Torrey-Manchester. Also Ocean Grove National Bank and Jersey Shore memorabilia. N.B. Buckman, P.O. Box 608, Ocean Grove, NJ 07756. 1-800-533-6163. (185) NEW ADDRESS FOR PERIODIC PRICE LISTS: LI.S., CSA, OBSO- LETED, STOCKS, FRN, MPC, JIM, WWII, GLIERRILIA, WORLD, NOT- GELD, STAMPS, FDC, COINS, CHITS. 52¢ SASE APPRECIATED. 702-753-2435. HOFFMAN, BOX 6039-S, ELKO, NEVADA 89802-6039. (180) WANTED: TEXAS NATIONALS, especially Hickman-Oakes R4-6, large or small, all grades. Please send list with prices to Roger Moulton, 3707 Waltham Ct., Yardley, PA 19067. (178) Buying & Selling Foreign Banknotes Send for Free List William H. Pheatt 9517 N. Cedar Hill Cir. Sun City, AZ 85351 Phone 602-933-6493 Fax 602-972-3995 Rare Kirtland, Ohio $100 Important Historical Mormon Issue ti leflt77..1,171.5*-41.WTY.4`017N7Y .carflzr rr 533 Kirtland, Ohio, The Kirtland Safety So- ciety Bank, OH-245. $100. Haxby. G-18. EF. Dated July 4, 1837. Serial: 113. Made payable to Joseph Smith. Signed by War- ren Parrish as cashier and Frederick G. Williams as President. The central vi- gnette features the signing of the Decla- ration of Independence. The writer Alvin E. Rust described the issues of this bank as the first Mormon currency endeav- our." Very rare denomination. anle471." IPTV tillt+11 E8277E TAsSlItusg IriE,1/E.41 SlItteS, 814%1:1, 114 0.TAI, It1:1.1,ci1a1Mie■ 1:011111t1, .xis ‘,1•44ALY4# 4.,..11t4i,I.11k6voom .111....Intstopn 8111.1111,,1i 11.0.1104..e N'ti,f) • •■ Page 32 Paper Money Whole No. 175 BOWERS AND MERENA for the Best Prices on your Paper Money! Actual currency lot front a 'cowl Bowers and .11enour auction sale. Paper money has always- been a specialty at Bowels and Merena. We offer: • Unsurpassed descriptions • Prof use illustrations • Extensive publicity • I Vide-ranging expertise ire would be delighted tofroll er single important notes and entire collections. Please call Dr. Richard A. Bagg, our Director of Auctions, at the toll-free number below. There is no obligation just the opportunity to sell your paper money for the very best market price. Auctions by Bowers and Merena Inc. BOX 1224 • WOLFEBORO, NH 03894 • TOLL-FREE 1-800-458-4646 • IN NH 569-5095 • FAX 603-569-5319 SUPERB UNITED STATES CURRENCY FOR SALE ///1" k.eve: 11X, D70990 VAVAV:iffillikkitt.#040gt, arawm pm.ratz, SEND FOR FREE PRICE LIST tm,r,mlar:forat, I 4/4/////41/ 4 /4, I' OEYAIIIA,111 SEM BOOKS FOR SALE PAPER MONEY OF THE U.S. by Friedberg. 13th Edition. Hard Bound. $17.50 plus $2.50 postage. Total Price. $20.00 ,,L;FC:101.44W9023, ■fde,,:ciSS.,;( J.JJ z .L1' 11.121 :3111...y.r ,,/4/ he07, .6/// 64/4 N929443&s. ekltrArljAbiltV4litts4 (01$1141,181)))141, tt,k 11 COLLECTING PAPER MONEY FOR PLEASURE AND PROFIT by Barry Krause. Includes a complete history of paper money. Much information on U.S. and foreign paper money. Soft Cover. 255 pages. $14.50 plus $2.50 postage. Total Price. $17.00. COMPREHENSIVE CATALOG OF U.S. PAPER MONEY by Gene Hessler. 5th Edition. Hard Cover. $29.50 plus $2.50 postage. Total Price. $32.00. 41/4 ////44 4 /4, 4,./ • / CONFEDERATE AND SOUTHERN STATES CURRENCY by Grover Criswell Jr. 4th Edition. Hard Cover. 415 Pages. $29.50 plus $2.50 postage. Total Price. $32.00 NATIONAL BANK NOTES by Kelly. 2nd Edition. Hard Cover. Lists all national bank notes by state and charter number. Gives amounts issued and what is still outstanding. 435 pages. $31.50 plus $2.50 postage. Total Price. $34.00. Stanley Morycz P.O. BOX 355, DEPT. M ENGLEWOOD, OH 45322 513-898-0114 Page 34 Paper Money Whole No. 175 Pay over "bid" for many Pay over "ask" for some Pay over Hickman-Oakes for many nationals Pay cash - no deal too large. All grades wanted, Good to Unc. At 74, I can't wait. Currency dealer over 50 years. A.N.A. Life #103 (56 years) P.N.G. President 1963-1964 A.M. KAGIN 910 Insurance Exchange Bldg. Des Moines, IA 50309 (515) 243-7363 Buy: Uncut Sheets — Errors — Star Notes — Checks Confederate — Obsolete — Hawaiiana — Alaskiana Early Western — Stocks — Bonds, Etc. Paper Money Whole No. 175 Page 35 Announcing the CHICAGO PAPER MONEY EXPOSITION FEBRUARY 24-25-26, 1995 Ramada O'Hare Hotel 6600 North Mannheim Road Rosemont, Illinois The Chicago Paper Money Exposition will feature a 110 booth bourse area with leading dealers in United States and world paper money, stocks and bonds, literature and related paper money ephemera. * 110 Booth Bourse * One mile from O'Hare Airport * Complimentary Airport Shuttle * Society Meetings * Educational Programs * $99 Bourse Fee United Airlines is the official airline of the Chicago Paper Money Expo. To obtain special convention fares, call United at (800) 521-4041 and tell the agent you are attending event 577YZ. To reserve a room at the Ramada O'Hare's special event rate of $69, call the hotel direct at (708) 827-5131 and tell the agent you are attending the Chicago Paper Money Expo. Bourse: KEVIN FOLEY P.O. Box 573 Milwaukee, WI 53201 (414) 282-2388 FAX (414) 282-3528 The Chicago Paper Money Exposition is Sponsored by Bank Note Reporter of EARLY AMERICAN NUMISMATICS Q.--° *619-273-3566 COLONIAL & CONTINENTAL CURRENCY We maintain the LARGEST ACTIVE INVENTORY IN THE WORLD! SEND US YOUR WANT LISTS. FREE PRICE LISTS AVAILABLE. SPECIALIZING IN: SERVICES: q Colonial Coins q Portfolio q q Colonial Currency Rare & Choice Type q Development Major Show D EARLY AMERICAN NUMISMATICS Coins Coverage c/o Dana Linett q Pre-1800 Fiscal Paper q Auction q Encased Postage Stamps Attendance q P.O. Box 2442 q LaJolla, CA 92038 q 619-273-3566 Members: Life ANA, CSNA-EAC, SPMC, FUN, ANACS ci* The "Biggest' little 41 coin and paper I money show in New England kr ELKS LODGE Pleasant St., Rt. 32 a Willimantic, Conn. Sunday, March 5, 1995 9 a.m. - 5 p.m. 6141.d190' 22nd Annual Show 50 50 Dealers Bourse & Exhibition Public Invited - Free Admission 50 40 "This is the Place" for PAPER MONEY COLLECTORS in the Northeast to get a jump on the Convention Season. Join us again this year for the largest gathering of Paper Money Dealers and Collectors in the New York/New England Area. . . . FEATURING THESE LEADING PAPER MONEY DEALERS .. . 1. R.M. SMYTHE & CO.—Stocks, Bonds, Obsolete Paper Money 2. DORIC COINS & CURRENCY—Lg & Sm U.S. Currency & Coins 3. DENLY'S OF BOSTON—All U.S. Paper Money & Obsoletes 4. RABENCO—Fractionals, U.S. Nationals, Lg & sm U.S. 5. CLAUD MURPHY—Confederate & Southern States 6. CHRISTIAN BLOM—U.S. Obsolete Paper Money 7. RUSSELL KAYE, Ltd.—Obsolete Banknotes 8. THE PAPER TIGER (John Schwartz)—Sm. size U.S. Currency 9. R.I. REED ENTERPRISES—Banknotes of the World, Stocks & Bonds 10.CHINA LAKE COIN & CURRENCY—U.S. Paper Money & Coins 11.ROGER DURAND—Historical Banknotes 12.NUMISVALU—U.S. Lg & Sm., Nationals & Obsoletes 13.COLONY COIN—Collector Coins & Paper Money 14.BILL AQUILINO—Paper, Medals, Tokens, Worlds Fair Ephemera 15.ROBERT PETRUCELLI—Confederate currency . . . Plus 35 other Paper Money, Coin, Token and Ephemera Dealers . . . Page 36 Paper Money Whole No. 175 INTERNATIONAL BANK NOTE SOCIETY MEMBERSHIP DUES & FEES The current annual dues, in U. S. Dollars and U. K. pounds, are: Regular membership $ 17.50 £10.00 Family Membership 22.50 12.50 Junior Membership 9.00 5.00 Life Membership 300.00 165.00 Euro Cheques, add .50 For applications for all categories of membership contact Milan Alusic P.O.Box 1642, Racine,Wisconsin 53401 U.SA (414) 554-6255 Nobody pays more than Huntoon for ARIZONA & WYOMING state and territorial Nationals 14111A1011151101 1/1.1;:lqr _ • UNIMISTATES CAMERA Peter Huntoon P.O. Box 3681 Laramie, WY 82071 (307) 742-2217 COLLECTOR OFFERING FOR SALE OHIO NATIONAL BANK NOTES In Small-Size Crisp 'inc. #1 Notes: 6059 OXFORD $5 A000001A 443 BUCYRUS $10 Ty2 A000001 858 NEWARK $50 C000001A In Small-Size, AS A SET: All 29 notes complete for the 13000 Charter range. Unless I hear otherwise, to my knowledge, this 29 note set is the Only Known Complete Set in existence. The 13905 Cambridge may be the only note known. In Small-Size, AS A SET: All 8 notes complete for the 14000 Charter range. Only two notes have surfaced for 14261 Bethesda. This 8 note set is one of Only Two Sets Possible To Make. In Large-Size, AS A SET: An 8 note Large Size Type Set from better banks and smaller towns. EVERY NOTE HAND SIGNED WITH PEN AND INK. KEN McDANNEL SPMC 1836 1405 WEAVER ST. S.W. CANTON, OH 44706-4543 Paper Money Whole No. 175 Page 37 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 Million Dollar Buying Spree Currency: Nationals MPC Lg. & Sm. Type Fractional Obsolete Foreign Stocks • Bonds • Checks • Coins Stamps • Gold • Silver Platinum • Antique Watches Political Items • Postcards Baseball Cards • Masonic Items Hummels • Doultons Nearly Everything Collectible gym ) 47praLtar, Life Member COIN SHOP INC SEND FOR OUR COMPLETE PRICE LIST FREE lagO EST 1960 "1461049,4•0144,..t" 399 S. State Street - Westerville, OH 43081 1-614-882-3937 1-800-848-3966 outside Ohio ° 1107.1..1 .0 I COLLECT MINNESOTA OBSOLETE CURRENCY and NATIONAL BANK NOTES Please offer what you have for sale. Charles C. Parrish P.O. Box 481 Rosemount, Minnesota 55068 (612) 423-1039 SPMC LM114 — PCDA — LM ANA Since 1976 SPATESSERI OFAMERICA , al II,r4 Nuti0--1--.14mo 71.28 N 4-MEM:NWm art12.0.11... Yr, 2W, I /;0477e• ,52.11pipamoniam• WANTED ALL STATES ESPECIALLY THE FOLLOWING: TENN-DOYLE & TRACY CITY: AL, AR, CT, GA, SC, NC, MS, MN. LARGE & SMALL TYPE ALSO OBSOLETE AND CONFEDERATE WRITE WITH GRADE & PRICE SEND FOR LARGE PRICE LIST OF NATIONALS SPECIFY STATE SEND WANT LIST DECKER'S COINS & CURRENCY PO. BOX 69 SEYMOUR, TN 37865 (615) 428-3309 LM-120 ANA 640 FUN LM90 Page 38 Paper Money Whole No. 175 1100, 41- Ito Series ABOUT ALLEGORICAL REPRESENTATIONS by Roger H. Durand There are tens of thousands of different vignettes on obsolete bank notes and many of them illustrate mythological gods and creatures. Allegorical representations usually have hidden meanings. Could you identify Amphitrite, Aurora, Fortuna or Tellus? Have you ever seen a Hippocampus or a Hydra? Would you recognize the personi- fication of Progress, Wealth, Victory or Fame? This book is full of previously unpublished information. A complete refund if you are not satisfied for any reason. THIS BOOK IS LIMITED TO JUST 300 NUMBERED COPIES $22.95 pp Order from your favorite dealer or from the author: P.O. Box 186 ROGER H. DURAND Rehoboth, MA 02769 ,gnterestingoex, -‘ **0Notes • • t V •••••••■ V • IT • .1111.7, OTC!, "331 d4, tit ittooNittmt r1143 1 t57431 CANADIAN BOUGHT AND SOLD • CHARTERED BANKNOTES. • DOMINION OF CANADA. • BANK OF CANADA. • CHEQUES, SCRIP, BONDS & BOOKS. FREE PRICE LIST CHARLES D. MOORE P.O. BOX 5233P WALNUT CREEK, CA 94596-5233 LIFE MEMBER A.N.A. #1995 C.N.A. #143 C.P.M.S. #11 Paper Money Whole No. 175 Page 39 BOOKS ON PAPER MONEY Arkansas Obsolete Notes & Script, Rothert $22 Territorials—US Territorial National Bank Notes, Huntoon $20 Florida, Cassidy (Ind nails & obsolete) $29 Vermont Obsolete Notes & Scrip, Coulter $20 Indiana Obsolete Notes & Scrip, Wolka $22 National Bank Notes, Hickman & Oakes 2nd ed $95 Indian Territory/Oklahoma/Kansas Obsolete Notes & Scrip, Burgett and Whitfield $20 US Obsolete Bank Notes 1782-1866, Haxby 4 vol Early Paper Money of America, 3rd ed., Newman $195 $49 Iowa Obsolete Notes & Scrip, Oakes $20 Depression Scrip of the US 1930s $27 Minnesota Obsolete Notes & Scrip, Rockholt $20 World Paper Money 6th ed., general issues $49 Pennsylvania Obsolete Notes & Scrip, loober $35 World Paper Money 6th ed., specialized issues $55 North Carolina Obsolete Notes, Pennell rent. $10 Confederate & Southern States Bonds, Criswell $25 Rhode Island & The Providence Plantations Obsolete Confederate States Paper Money, Slabaugh $9 Notes & Scrip, Durand $25 Civil War Sutler Tokens & Cardboard Scrip, Schenkman $27 10% off on five or more books • Non-SPMC members add: $3 for one book, $5 for two books, $7 for three or more books CLASSIC COINS - P.O. Box 95—Allen, MI 49227 BUYING and SELLING CSA and Obsolete Notes CSA Bonds, Stocks & Financial Items Extensive Catalog for $3.00, Refundable With Order ANA-LM SCNA PCDA HUGH SHULL P.O. Box 761, Camden, SC 29020 / (803) 432-8500 FAX 803-432-9958 SPMC-LM BRNA FUN MYLAR D CURRENCY HOLDERS PRICED AS FOLLOWS BANKNOTE AND CHECK HOLDERS SIZE INCHES 50 100 500 1000 Fractional 43/4x2 3 /4 $16.50 $30.00 $137.00 $238.00 Colonial 5 1 /2 x 3 1 /16 17.50 32.50 148.00 275.00 Small Currency 65/6 x 2 7/8 17.75 34.00 152.00 285.00 Large Currency 77/8 x 3 1 /2 21.50 39.50 182.00 340.00 Auction 9 x 33/4 25.00 46.50 227.00 410.00 Foreign Currency 8 x 5 28.00 52.00 239.00 430.00 Checks 95/8x 4 1 /4 26.50 49.00 224.00 415.00 SHEET HOLDERS SIZE INCHES 10 50 100 250 Obsolete Sheet End Open 83/4 x 14 1 /2 $13.00 $60.00 $100.00 $230.00 National Sheet Side Open 8 1 /2 x 17 1 /2 25.00 100.00 180.00 425.00 Stock Certificate End Open 91/2 x 12 1 /2 12.50 57.50 95.00 212.50 Map and Bond Size End Open 18 x 24 48.00 225.00 370.00 850.00 You may assort noteholders for best price (min. 50 pcs. one size). You may assort sheetholders for best price (min. 5 pcs. one size) (min. 10 pcs. total). SHIPPING IN THE U.S. (PARCEL POST) FREE OF CHARGE Mylar fa, is a Registered Trademark of the Dupont Corporation. This also applies to un- coated archival quality Mylar' Type D by the Dupont Corp. or the equivalent material by ICI Industries Corp. Melinex Type 516. DENLY'S OF BOSTON P.O. Box 1010 617-482-8477 Boston, MA 02205 ORDERS ONLY: 800-HI-DENLY FAX 617-357-8163 Milwaukee Calling 56th Anniversary CENTRAL STATES CONVENTION April 27th-30th, 1995 PNG Day April 27th MECCA Convention Center WISCONSIN'S LARGEST CONVENTION CENTER 4th and Kilbourn Milwaukee, Wisconsin Bob Korosec, Chairman 414/541-8650 Russ Konig, Bourse 414/781-4200 Fax 414/781-2883 4040 N. Calhoun Rd., Brookfield, WI 53005 Hosted By Milwaukee Numismatic Society South Shore Coin Club Numismatists of Wisconsin PAPER MONEY UNITED STATES Large Size Currency • Small Size Currency Fractional Currency • Souvenir Cards Write For List Theodore Kemm 915 West End Avenue q New York, NY 10025 More Cash for your Cash WISCONSIN NATIONAL BANK NOTES WANTED C. Keith Edison P.O. Box 26 Mondovi, Wisconsin 54755-0026 (715) 926-5001 FAX (715) 926-5043 WORLD PAPER MONEY * BUY, SELL, TRADE * * FREE PRICE LIST * specialized in Poland, Russia and East Europe Tom Sluszkiewicz P.O. Box 54521, 7398 Edmonds St. BURNABY, B.C., CANADA, V3N 1A8 U.S. CURRENCY Free Periodic Price Lists S & S CURRENCY, LTD. P.O. Box 1313 LaVergne, Th. 37086 (615) 896-6137 Page 40 Paper Money Whole No. 175 ss )l1' Il 11161 11 . j i I I I \I i; ; I I; 1 W. I., ; r; Athi [1 i tty I 111,1110) t ! WE ARE ALWAYS BUYING ■ FRACTIONAL CURRENCY ■ ENCASED POSTAGE ■ LARGE SIZE CURRENCY ■ COLONIAL CURRENCY WRITE, CALL OR SHIP: 1.-0-411111.—•—■ 2J7Tn A XL" J ` .1 a re IIE LEN and JEAN GLAZER (718) 268-3221 POST OFFICE BOX 111 FOREST HILLS, N.Y. 11375 --,.„. - ' SOCI 1-,T1 * .,,, l ITA )).t M 107s. El , ( 01.1EC IURS eti. a net ciz..- : ) Charter Member Standard catafagag SCV,rtth ediPonyogi) PAPER All)gy d rip • 264 kt..,q by Pawl' ' 0 IGO MM. krause publications 700 E. State Street • Iola, WI 54990-0001 STANDARD CATALOG OF WORLD PAPER MONEY 7th Edition Volume II, General Issues By Albert Pick Edited by Colin Bruce II and Neil Shafer 8-1/2" x 11", hardcover 10,000 photos, approx. 1,200 pages, $55.00 This revised and thoroughly expanded catalog enhances its reputation as "the" reference book for nationally-circulated legal tender over the last 300 years. More than 22,000 notes are list- ed, including over 150 new notes from emerg- ing nations like Estonia, Latvia, Lithuania, Bosnia-Herzegovina and Macedonia. You'll also find over 10,000 illustrations to help you identify issues quickly and easily. STANDARD GUIDE TO SMALL-SIZED U.S. PAPER MONEY By Dean Oakes With special contributions from Michael Crabb, John Schwartz, Peter Huntoon and Bernard Schaff 6" x 9", softcover, approx. 250 photos, 300 pages, $24.95 More than 250 large, clear photos are the focal point of this all new reference. Positive identifi- cation is easier on the eye. Listings include more than 14,000 serial number blocks and groups, and accurate, up-to-date valuations for thousands of issues from 1928 to the present. Updated printing figures and a concise, but comprehensive history of modern U.S. paper money, make this the most complete treatment of small-sized U.S. paper money available! WISCONSIN OBSOLETE BANK NOTES AND SCRIP By Chester L. Krause 8-1/2" x 11", hardcover, approx. 1,000 photos, 500 pages, $39.95 Respected collector and author, Chester L. Krause, presents the most thorough treatment of obsolete Wisconsin bank notes and scrip from 1836-1865. More than 1,000 of these rare and beautiful treasures are illustrated with large, sharp photos that aid in identification. Prices are also listed in this landmark edition — in up to three grades of preservation. ( ) Check or money order enclosed (payable to Krause Publications) ( ) MasterCard ( ) VISA Account No. City/State/Zip AQ2 Expiration Date: Mo. Signature BOOKS Qty. Item Code Item Title Price Sub Total PM7 Standard Catalog of World Paper Money, 8th Edition $55.00 HP3 Standard Guide to Small-Sized U.S. Paper Money 24.95 OW Wisconsin Obsolete Bank Notes And Scrip 39.95 Shipping and Handling* Subtotal WI residents add 5.5% sales tax Total Enclosed 'Please add $2.50 for postage for the first book and $1.50 for each additional book. Addresses outside the U.S. add $5.00 per title ordered for postage and handling. Please print clearly Your Name Address Yr. Phone MasterCard & VISA Cardholders save time by calling toll-free 800-258-0929 Dept AQ2 Mon. - Fri. 6:30 a.m. to 8:00 p.m. • Sat. 8:00 a.m. to 2:00 p.m., CST. General business phone 715-445-2214 Mon.-Fri. 8:00 a.m. to 5:00 p.m.