PER LiA AE4 Official Journal of the Society of Paper Money Collectors VOL. XLI, No. 1 WHOLE No. 217 JANUARY/FEBRUARY 2002 ,M4litgg; _61 assu '` " 'Lux Bisliftffir MONA L C 0,/ifLOT tit imi-asa..011.141LD „t4wri7. -Fp „..4:Joe s:ri_rousitirep.twashhigfoli. `," sk I --01i1CHANN:- 77.1atillOwire, Icor ENVITE 1)1A1 th, tOnatte- witwetwatola ) ,• '41I MUM 111114.11L.CAM • ....A 11.640.10 ••■•• WWW.SPMC.ORG INSIDE: U.S. TREASURER MICHAEL HILLEGAS & CANCELLED NBN PLATES x667334s'" •10 11.063 4.4019, t, . Show Hours: Thursday, March 14 - 2-6 pm Saturday, March 16 - 10 am-6 pm (Advance Preview Day - $25) Friday, March 15 - 10 am-6 pm Sunday, March 17 - 10 am-2 pm A three-day pass is $5 - Children 16 and under are FREE YOU'RE INVITED JOIN US THIS SPRING FOR A "MUST ATTEND EVENT" The Strasburg Stock, Bond and Currency Show March 14-17, 2002 Lancaster Host Hotel 2300 Lincoln Highway East (Route 30), Lancaster, PA 17602 Featuring: • A World Class Auction of Stocks, Bonds, and Paper Money By R.M. Smythe & Co. • 100 Dealer Tables • Limited Edition Intaglio Souvenir Card available only at the show • Live Spider Press Demonstrations • Pennsylvania Dutch Tourist Attractions • Factory Outlet Malls Nearby • Free Parking Bourse and Consignment Information: Kevin Foley - R.M. Smythe P.O. Box 37650, Milwaukee, WI 53237 (414) 421-3498 Fax (414) 423-0343 Hotel Reservations: To reserve a room at the Lancaster Host Hotel, call 800-233-0121 and ask for the special $109 Strasburg Currency and Stock & Bond Show rate. Visit the R.M. Smythe & Co. website: www.smytheonline.com ANNOUNCING The Strasburg Currency and Stock and Bond Show September 12-15, 2002 Lancaster Host Hotel 2300 Lincoln Highway East (Route 30), Lancaster, PA 17602 Featuring: • A World Class Currency and Stocks & Bonds Auction by R.M. Smythe & Co. • 100 Booth Bourse Area • Special Intaglio Souvenir Card available only at the show • Live Spider Press Demonstrations • Factory Outlet Malls Nearby • Free Parking • Pennsylvania Dutch Tourist Attractions Show Hours: Thursday, September 12 - 2-6 pm Saturday, September 14 - 10 am-6 pm (Professional Preview - $25) Friday, September 13 - 10 am-6 pm Sunday, September 15 - 10 am-2 pm A three-day pass is $5 - Children 16 and under are FREE Bourse and Consignment Information: Kevin Foley - R.M. Smythe P.O. Box 37650, Milwaukee, WI 53237 (414) 421-3498 Fax (414) 423-0343 Hotel Reservations: To reserve a room at the Lancaster Host Hotel, call 800-233-0121 and ask for the special $109 Strasburg Currency and Stock & Bond Show rate. It M. SMYTH E TERMS AND CONDITIONS PAPER MONEY is published every other month beginning in January by the Society of Paper Money Collectors (SPMC). Second-class postage is paid at Dover, DE 19901. Postmaster send address changes to Secretary Toni Minerley, P.O. Box 7155, Albany, NY 12224-0155 C.-) Society of Paper Money Collectors, Inc., 2002. All rights reserved. Reproduction of any article, in whole or in part, without express written permis- sion, is prohibited. Individual copies of this issue of PAPER MONEY are available from the Secretary for $4 postpaid. Send changes of address, inquiries concerning non-delivery, and requests for additional copies of this issue to the Secretary. MANUSCRIPTS Manuscripts not under consideration elsewhere and publications for review should be sent to the Editor. Accepted manuscripts will be published as soon as possible; however, publication in a specif- ic issue cannot be guaranteed. Include an SASE for acknowledgment, if desired. Opinions expressed by authors do not necessarily reflect those of the SPMC. Manuscripts should be typed (one side of paper only), double-spaced with at least 1-inch margins. The author's name, address and telephone number should appear on the first page. Authors should retain a copy for their records. Authors are encour- aged to submit a copy on a 3 1/2-inch MAC disk, identified with the name and version of software used. A double-spaced printout must accompany the disk. Authors may also transmit articles via e- mail to the Editor at the SPMC web site (fred@spmc.org). Original illustrations are pre- ferred. Scans should be grayscale at 300 dpi. Jpegs are preferred. Inquire about other formats. ADVERTISING • All advertising copy and correspondence should be sent to the Editor • All advertising is payable in advance To keep rates at a minimum, all advertising must be prepaid according to the schedule below. In exceptional cases where special artwork or addi- tional production is required, the advertiser will be notified and billed accordingly. Rates are not corn- missionable; proofs are not supplied. Advertising Deadline: Copy must be received by the Editor no later than the first day of the month preceding the cover date of the issue (for example. Feb. 1 for the March/April issue). With advance approval, camera-ready copy, or electronic ads in Quark Express on a MAC zip disk with fonts sup- plied, may be accepted up to 10 days later. ADVERTISING RATES Space 1 time 3 times 6 times Outside back cover $500 $1350 $2500 Inside cover 400 1100 2000 Full page 360 1000 1800 Half page 180 500 900 Quarter page 90 250 450 Eighth page 45 125 225 Requirements: Full page, 42 x 57 picas; half-page may be either vertical or horizontal in format. Single-column width, 20 picas. Except covers, page position may be requested, but not guaran- teed. All screens should be 150 line or 300 dpi. Advertising copy shall be restricted to paper cur- rency, allied numismatic material, publications, and related accessories. The SPMC does not guar- antee advertisements, but accepts copy in good faith, reserving the right to reject objectionable material or edit copy. SPMC assumes no financial responsibility for typo- graphical errors in ads, but agrees to reprint that portion of an ad in which a typographical error occurs upon prompt notification. PAPER MONEY • January/February 2002 • Whole No. 217 1 Paper Money Official Bimonthly Publication of the Society of Paper Money Collectors, Inc. Vol. XLI, No. 1 Whole No. 217 JANUARY/FEBRUARY 2002 ISSN 0031-1162 FRED L. REED III, Editor, P.O. Box 793941, Dallas, TX 75379 Visit the SPMC web site: www.spmc.org IN THIS ISSUE FEATURES Meet the Hillegas Family 3 By Mark Rabinowitz Part 3: A Catalog of SPMC Memorabilia 22 By Fred Reed Then and Now: the State Bank of Camden, NJ 24 By Wendell Wolka Byways of Scripophily 28 By David H. Gelwicks Counterfeits & Cancelled Subjects 36 By Peter Huntoon FNB of Greenville, MS Becomes Court House 42 By Frank Clark A Bit More on Short Snorters 43 SOCIETY NEWS Information & Officers 2 Important Announcement: Special Advertising Deadlines . 11 President's Column 20 By Frank Clark SPMC Board Honors Newman, Lloyd, Horstman 21 Money Mart 44 Research Exchange 44 New Members 46 Editor's Notebook 46 Advertisers Index 47 SOCIETY OF PAPER MONEY COLLECTORS INC. BUYING AND SELLING CSA and Obsolete Notes CSA Bonds, Stocks & Financial Items 60-Page Catalog for $5.00 Refundable with Order ANA-LM SCNA PCDA CHARTER MBR HUGH SHULL P.O. Box 761, Camden, SC 29020 (803) 432-8500 FAX (803) 432-9958 SPMC LM 6 BRNA FUN 2 January/February 2002 • Whole No. 217 • PAPER MONEY Society of Paper Money Collectors The Society of Paper Money Collectors (SPMC) was orga- nized in 1961 and incorporated in 1964 as a non-profit organiza- tion under the laws of the District of Columbia. It is affiliat- ed with the American Numismatic Association. The annual SPMC meeting is held in June at the Memphis IPMS (International Paper Money Show). Up-to-date information about the SPMC and its activities can be found on its Internet web site www.spmc.org . MEMBERSHIP—REGULAR and LIFE. Applicants must be at least 18 years of age and of good moral character. Members of the ANA or other recognized numismatic societies are eligible for member- ship; other applicants should be sponsored by an SPMC member or provide suitable references. MEMBERSHIP—JUNIOR. Applicants for Junior membership must be from 12 to 18 years of age and of good moral character. Their application must be signed by a parent or guardian. Junior mem- bership numbers will be preceded by the letter "j," which will be removed upon notification to the Secretary that the member has reached 18 years of age. Junior members are not eligible to hold office or vote. DUES—Annual dues are $24. Members in Canada and Mexico should add $5 to cover postage; members throughout the rest of the world add $10. Life membership — payable in installments within one year is $500, $600 for Canada and Mexico, and $700 elsewhere. The Society has dispensed with issuing annual mem- bership cards, but paid up members may obtain one from the Secretary for an SASE (self-addressed, stamped envelope). Members who join the Society prior to October 1 receive the magazines already issued in the year in which they join. Members who join after October 1 will have their dues paid through December of the following year; they also receive, as a bonus, a copy of the magazine issued in November of the year in which they joined. Dues renewals appear in the Sept/Oct Paper Money. Checks should be sent to the Society Secretary. OFFICERS ELECTED OFFICERS: PRESIDENT Frank Clark, P.O. Box 117060, Carrollton, TX 75011-7060 VICE-PRESIDENT Wendell A. Wolka, P.O. Box 569, Dublin, OH 43017 SECRETARY Tom Minerley, P.O. Box 7155, Albany, NY 12224-0155 TREASURER Mark Anderson, 335 Court St., Suite 149, Brooklyn, NY 11231 BOARD OF GOVERNORS: Benny J. Bolin, 5510 Bolin Rd., Allen, TX 75002 C. John Ferreri, P.O. Box 33, Storrs, CT 06268 Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 Ronald L. Horstman, 5010 Timber Ln., Gerald, MO 63037 Arri "AJ" Jacob, P.O. Box 1649, Minden, NV 89423-1649 Judith Murphy, P.O. Box 24056, Winston-Salem, NC 27114 Fred L. Reed III , P.O. Box 793941, Dallas, TX 75379-3941 Robert Schreiner, P.O. Box 2331, Chapel Hill, NC 27515- 2331 Steven K. Whitfield, P.O. Box 268231, Weston, FL 33326 APPOINTEES: EDITOR Fred L. Reed Ill, P.O. Box 793941, Dallas, TX 75379-3941 CONTRIBUTING EDITOR Gene Hessler, P.O. Box 31144, Cincinnati, OH 45231 ADVERTISING MANAGER Robert Schreiner, P.O. Box 2331, Chapel Hill, NC 27515-2331 LEGAL COUNSEL Robert J. Galiette, 3 Teal Ln., Essex, CT 06426 LIBRARIAN Richard J. Balbaton, P.O. Box 911, North Attleboro, MA 02761 MEMBERSHIP DIRECTOR Frank Clark, P.O. Box 117060, Carrollton, TX 75011-7060 PAST PRESIDENT Bob Cochran, P.O. Box 1085, Florissant, MO 63031 1929 NATIONALS PROJECT COORDINATOR David B. Hollander, 406 Viduta PI, Huntsville, AL 35801-1059 WISMER BOOK PROJECT COORDINATOR Steven K. Whitfield, P.O. Box 268231, Weston, FL 33326 PAPER MONEY • January/February 2002 • Whole No. 217 3 Asicateamiumaimmtv .Wriefunarnaftannati”•410' ABOUT ONCE EACH decade since 1949, a two or three page synopsis of the career of Michael Hillegas -- each similar to the last -- has appeared in the pages of one or another of the leading numismatic journals, usually decrying the unfairness of the lack of recognition given to this key figure in the American Revolution. Now, we will take a new and deeper look at the career of Michael Hillegas; at the expansive reach of his relations and descendants into early American finance, bank- Mg and paper money; and at one man's quest to gain recognition for our first U.S. Treasurer. Meet the Hillegas Family BY MARK RABINOWITZ The genesis for this new research was the observation of paper money with the signatures of two apparent namesakes: Samuel Hillegas on Continental Currency and William Hillegas on a State Bank at Camden, New Jersey, obsolete bank note. (Wendell Wolka describes the history of that bank in a companion article in this issue of Paper Money.) The title of this article is a "tip of the hat" to one of the earliest numismatic articles on Michael Hillegas, the November, 1957, N1111111V711lltic Scrapbook Magazine article by Marianne F. Miller entitled "Meet Mr. Hillegas." Michael Hillegas Sr. was born in Sinsheim, near Heidelberg in the Palatinate, Germany in 1696, the second European homeland of the Hillegas family after their believed origin in the Alsace region of France. The Hillegas family began to emigrate to America in the early 18th century, Michael Sr. and his wife Margaret arriving in Philadelphia between 1724 and 1726, although precise records of their voyage were not kept. Michael Sr.'s brother John Frederick Hillegas and their elder sister (first name unknown), along with John's wife, sailed from Rotterdam on the William and Sarah, arriving in Philadelphia on September 18, 1727. Michael Hillegas, son of Michael Hillegas Sr., was born in Philadelphia on April 22, 1729. Michael Hillegas Sr. was a well-known leader of the German immigrant community in Philadelphia. He placed much importance on naturalization, which he achieved in April 1749 under King George II's nat- Figure 1A below. This Series 1907 Gold Certificate with the portrait of the First Treasurer of the United States, Michael Hillegas, is the sixth note issued under the first signature combi- nation for the note, Vernon-Treat. This is the lowest known serial number for this variety. This note resides in the Smithsonian Institution's collection. Figure 1B above. Detail. The PHILADELPHIA VIA XIS. kvrooxikm to Teti Dollars to or Ilrarcr on d,C1Ilitila. 4 January/February 2002 • Whole No. 217 • PAPER MONEY uralization act of 1740, which allowed naturalization of American colonists as British subjects after they had lived seven years in the colonies. Unfortunately, he died soon thereafter, in October, intestate. Hillegas Sr., who sold queensware (glazed English earthenware of a cream color made familiar by the potter Josiah Wedgwood), hardware, dry goods, groceries, wines and liquor, left a considerable estate of about ,40,000 which included 28 lots of prime Philadelphia real estate on Second Street, Front Street and along the Delaware River bank. A five man jury appointed by the Philadelphia Orphans' Court in 1750 apportioned the estate one-half to the son Michael, age 20, and one-quar- ter each to the two daughters, Susanna, age 16, and Mary, age 14, after their mother Margaret relinquished all rights to the estate in exchange for a lifelong annuity. Margaret lived until 1770; still, Michael and his two sisters petitioned the Orphans' Court for guardians during these proceedings. Figure 2. A March 19, 1810, $10 note on the Philadelphia Bank, signed by its first president, George Clymer, appointed Continental co-treasurer with Michael Hillegas in 1775. An Early and Important Relationship: the Clymer Family William Clymer was appointed Hillegas' guardian at Michael's request. Clymer was a sea captain and merchant who also served as Philadelphia tax assessor and county commissioner; his death created the vacancy to which Benjamin Franklin was first appointed in the Pennsylvania Assembly. Clymer signed the 1741 petition to King George II asking him to provide for the defense of Pennsylvania since the Quaker-dominated legislature would not act on this issue (ultimately Benjamin Franklin led a group which overcame this resistance in 1747). William Clymer was also the granduncle of two members of the Clymer family who were to become Michael's associates: George and Daniel. It is well known that George Clymer was appointed Continental co- treasurer with Michael Hillegas in 1775; it is less well-known that the relation- ship of the men began as a result of this guardianship in 1750, when Michael was 20 years old and George just 11. George Clymer served as co-treasurer with Michael Hillegas for just over a year, resigning on August 6, 1776, after he took a seat in the Continental Congress as a Pennsylvania delegate. Although Clymer was not yet a member of Congress for the vote on the Declaration of Independence on July 4, 1776, he was a signer of the document on August 2. He signed the Constitution, as well, in 1787. Clymer was a strong supporter of the Bank of North America and government-sponsored banks in general, saying on the floor of the Assembly in 1786 that, "banks are in general encouraged in all the commercial nations of Europe. And the more republican a country is -- or at least the greater degree of liberty it possesses -- the greater is the success of its banks." Later that year he told the Pennsylvania Packet, "in a public bank the directors are supported or turned out as the stockholders approve or disapprove their mea- sures." Clymer later became the first president of the Philadelphia Bank. Daniel Clymer had a distinguished military career, serving as Lieutenant Colonel of the Philadelphia Associators during the Revolution. In 1778 he was appointed Deputy Commissary General of Prisoners. Daniel Clymer was also an attorney and was active in Pennsylvania politics, including serving in the Pennsylvania Assembly. He was an "anti-constitutionalist;" that is, he favored retention of the existing state constitution in 1776 rather than the change pre- ferred by more radical politicians. He shared this stance with Robert Morris and his cousin George Clymer, among others. Michael Hillegas' Career Michael Hillegas began his career as a merchant running his late father's PAPER MONEY • January/February 2002 • Whole No. 217 5 WANTED Any fractional Ncte. Arty Condition will buy, trade, consign or upgrade any United States Fractional Currency Note in your collection. Silver Penny Currency and Coins, Ltd. Post Office Box 339, Red Feather Lakes, CO 80545 Toll Free: 1-877-204-5220 email: silverpennycoins@yahoo.com URL: www.fractionalnotes.com ' 1 028 The One Million Euro notes are consecutively numbered and employ overt and covert security features. They are printed by the intaglio process on micro-threaded banknote paper. These notes are available in individual or bulk quantities with a certificate of authenticity. Some half and full size banknote sheets are available including banknote paper specifications. This first Euro Banknote Collectible may well revolutionize the Banknote Collectible Industry In January 2002 the Euro will become the official currency of the 15 member European union. The Naples Bank Note Company has commissioned artist Chris McCauley to create a non- negotiable collectible, the One Million Euro, commemorating this event. These notes will be issued in a limited edition of only 150,000. Wholesale & Retail Inquiries Invited ,20e04,,aPemalek Or visit our Website: volvw.banknotables.com 800-628-6298 Lynese Octobre, Inc. P.O. Box 5002, Dept. 33 Clearwater, FL 33758-5002 /ea TWO DOLLARS. 0 Bill entitles the 9 Via: Bearer, to receive WO SPANISH MILL ED DOLLARS, or the iTaJue thereof iri GOLD or SS L V p.g. , according to., a Befolution of CON-11 4•% GRESS, paffed at Phi- + ladelp b ls, hlay g, x 776. 6 January/February 2002 • Whole No. 217 • PAPER MONEY Figure 3. Daniel Clymer, cousin to Declaration of Independence signer George Clymer and grandnephew of Michael Hillegas' guardian William Clymer, signed this May 9, 1776 $2 Continental Currency note. He signed notes of the first through fifth issues. business, and by no later than 1762 formed the partnership Winey & Hillegas, which operated through at least 1768. Hillegas sold powder that was used for, among other pur- poses, clearing the falls at Schuylkill; he was a sugar refiner, and had interests in the manu- facture of iron, including ownership of the Martic Furnace at Furnace Run, where Revolutionary musket barrels were made. Hillegas also acted as the agent of Baron Stiegel, owner of the Elizabeth Furnace and America's second glassworks. Hillegas owned a tavern, a wharf, and dealt in real estate. He also served (1772 -1777) as director of the Philadelphia Contributionship for the Insurance of Houses from Loss by Fire, an early fire insurance company founded by Benjamin Franklin in 1752. As he gained prominence, Hillegas became involved in the political life of the colony of Pennsylvania as well as the city of Philadelphia. He was one of the commissioners appointed in 1762 to select a location for and oversee the building of Fort Mifflin, critical to the city's defenses. In 1765, he became Philadelphia's representative in the Pennsylvania Provincial Assembly, continu- ing in that role through 1775. In this role, he was a member of the committee "to audit and settle the Accounts of the General Loan-Office and other public Accounts." In 1771 Hillegas was named a member of the board of commissioners whose duty was to improve the navigation of the Delaware River. In 1774 he was named a member of the Committee of Correspondence for the city and county of Philadelphia, also known as "the Committee of Forty-Three." Hillegas became treasurer of the Committee of Safety on June 30, 1775, and was appointed a member of that committee on April 9, 1776, along with David Rittenhouse (later the first Director of the United States Mint) and Joseph Parker (another Continental Currency signer). The colony made good use of Hillegas' business acumen and on May 30, 1776, appointed him Treasurer of the Province. In parallel with these Pennsylvania colonial offices, Hillegas held the office of Continental Treasurer for 14 years, during the last 13 of which he was the sole officeholder after George Clymer's transition into Congress. In 1777 his title changed to Treasurer of the United States. Hillegas generously applied the fortune he had amassed as a merchant to support the revolutionary cause. He also made extensive personal efforts occasionally requiring long periods away from home. Michael's many contributions to the Continental Congress and the state of Pennsylvania included a personal bond of $100,000 given when he took office as Continental Treasurer, and direct monetary gifts of well over $6,000,000 (albeit much of this sum represented depreciated Continental Currency) by 1780. Michael was among the original subscribers to the Pennsylvania Bank in 1780 -- to the tune of £4,000 -- which was estab- lished to obtain funds for use in supporting the armed forces, and to the Bank of North America in 1781, organized by Robert Morris. When the war ended in 1783, Michael continued in the office of Treasurer for six more years, earning a salary of between $1,500 and $1,800 per year, a dramatic decline from his wartime salary of approximately $3,000. During this time he performed other functions for both the state of Pennsylvania and for the United States. On April 1, 1784, Hillegas and Tench Francis were appointed by the Supreme Executive Council of Pennsylvania to _Art' _TT 0 .1-zwIrr Nolt Thirtit °hare BILL entit(e tae Bearer to re6e4.14-..,;').,.. THIRTY Spaniill _'milled DOLLARS or tfe bYa:ize tfereo 41Ck5) ,\> 4z.pri I or cgrocr, coreitq.tot,fe ✓ ffoCa- tion4 Goir,rep ,kt-ti at c 1 77 5. tre s'dC, -2.2.11Vb PAPER MONEY • January/February 2002 • Whole No. 217 7 lay out and sell the land in Philadelphia on which the barracks formerly occu- pied by British soldiers was situated. In 1784 and 1785 Hillegas co-managed (along with, among others, Benjamin Fuller, another signer of Continental Currency) Pennsylvania's state lottery, which had been established to raise money to improve the roads from Philadelphia to the western part of the state, and to improve navigation of the Schuylkill River. As a senior government official, he also played a role in diplomatic affairs: when Philippe Theriot arrived in Philadelphia in 1784 to assess the potential for diplomatic and com- mercial relations between Saxony and the United States, the first two meetings he undertook were with Robert Morris and Michael Hillegas. After he left the office of Treasurer, Hillegas continued in public service as an Alderman of the City of Philadelphia (1793-1804), and as an Associate Justice of the Mayor's Court. In 1792, he became one of the founders of the Lehigh Coal Mining Company, after a piece of stone coal was found on Mauch Chunk Mountain, and helped arrange for the company to purchase between 8,000 and 10,000 acres of land from the commonwealth of Pennsylvania. Charles Cist, a Philadelphia printer and another signer of Continental Currency, joined Hillegas in the new firm. (Cist and Hillegas were good friends; several of the surviving books from Hillegas' personal library are inscribed as gifts or "printer's presentation copies" from Cist to Hillegas.) Its efforts, however, were largely unsuccessful; the company saw success in the area only by the 1820s, long after Michael's death. Michael was also prominent in the Pennsylvania Land Company, holding interest in thousands of acres of land in Bedford County. The End of the Beginning These accomplishments show clearly that Hillegas remained active fol- lowing his 14-year tenure as Treasurer, but he had not been happy to depart from that position when he was replaced by General Samuel Meredith. Hillegas had a long-standing relationship with the newly elected President George Washington, and surely felt that he would retain his office as Treasurer. However, Hillegas had refused to move from Philadelphia to New York when that city became the nation's capital in 1785. He agreed to do so many months later than everyone else, and then only after Congress threatened to fire him. Charles Thomson, Secretary of Congress and the only government official with more seniority than Hillegas, personally inter- vened on Hillegas' behalf. Memories of this spat likely lingered in the minds of the decision-mak- ers. Moreover, a growing sentiment for whole- sale change in the way the young nation dealt with its financial difficulties weighed heavily against the continuance of the incumbent in office. Samuel Meredith, a member of the Continental Congress, was the son of Reese Meredith, a wealthy Philadelphia merchant. Samuel was also the brother-in-law of George Clymer, who married Meredith's sister Elizabeth. Samuel became active in Philadelphia both as a merchant and a leading patriot, at least as early as 1765 when he signed the Non-Importation Agreement in response to the British Stamp Act. Samuel Meredith was authorized by the Continental Congress to sign Continental Currency in 1775 and signed notes of the May 10, 1775 issue. He also was a key figure in the Revolutionary Army, serving as major and then lieutenant colonel of Pennsylvania's Third Battalion of Associators, known as Figure 4. General Samuel Meredith, who replaced Michael Hillegas as Treasurer of the United States, was often thought of as the nation's first treasurer, until the Reverend Michael Reed Minnich took action to correct the error. This May 10, 1775, $30 Continental Currency note was signed by General Meredith (signa- ture slightly faded) along with Daniel Clymer. 8 January/February 2002 • Whole No. 217 • PAPER MONEY the Silk Stocking Company. He fought in Washington's victories at Trenton and Princeton. His service in the battles of Brandywine and Germantown led to his promotion in April 1777 to the position of Brigadier General of the Pennsylvania militia. Meredith served through January 9, 1778, when he resigned to resume his career in business and politics. Then he served as a member of the Pennsylvania Assembly for the terms 1778-1779 and 1781- 1783. Meredith had a much closer relationship with Washington than Hillegas did. Washington visited the Merediths once or twice a month during the five months he was in Philadelphia at the time of the constitutional convention. (There is no reference to Hillegas in Washington's diaries of this time at all.) Not only did Meredith serve under Washington in the military, but his wife's two brothers -- Lambert and John Cadwalader, members of one of the most prominent Philadelphia families -- were also loyal officers in Washington's command. Samuel Meredith began lobbying for a position in the new federal gov- ernment early -- before Washington's election, albeit a formality, had yet taken place. In late February, 1789, Meredith wrote to Washington: The Fall of Landed property, added to losses occasioned by a too great Confidence in Continental money [which had become worthless], have so extremely diminished my income as to render it necessary I should do something for the present support of my family, I therefore take the Liberty of requesting the favour of your Interest in order to procure some office under Congress, in which I may be of service to the Publick, & at the same time benefit myself. In reading Meredith's original letter to Washington, it is difficult to deci- pher whether the word he used to describe the position he desired was "import" or "impost," and typewritten transcriptions by historians differ. The "impost" was the Continental tax on imports designed to raise money to pay down the public debt accumulated during the war. Whichever word he used, Meredith was requesting a post associated with collecting money for the gov- ernment related to imports through the port of Philadelphia. Washington responded quickly, saying that he expected to accept the office of President and that many people had already applied to him for positions, including the one requested by Meredith. Washington stressed his intentions to "act with a sole reference to justice and the public good" in selecting his nominees, adding however that notwith- standing having been elected by the public, "he may assuredly, without violat- ing his duty, be indulged in the continuance of his former attachments." It is only natural that the new president would nominate those with whom he had a relationship of experience and trust. On August 3, 1789, Washington submit- ted a lengthy list of nominees to Congress, including Samuel Meredith for the position of Surveyor of the Port of Philadelphia, a lesser office than had been requested. (Sharp Delaney was nominated for the Collector position for the port.) Nonetheless, Philadelphia Madeira merchant Henry Hill, a mutual acquaintance of the two men, wrote Washington that the commission was "a distinguishing instance of your powerful friendship." It is not clear how Meredith or his supporters convinced Washington to follow this first appointment with the new and far more significant appoint- ment as Treasurer just a few weeks later. The Act of Congress establishing the Treasury Department and the position of Treasurer (as well as the new posi- tion of Secretary of the Treasury, which was filled by Alexander Hamilton) took effect on Sept. 2. Three days later, the position had not yet been filled -- at least formally -- for on that date, the incumbent treasurer Michael Hillegas sent a short letter to the president, stating "as the time for making appoint- ments under the Treasury Law draws near, I beg leave to Request Your Excellency's remembrance of the present Treasurer." This curt request appears to have been no match for Meredith's lobbying, connections, or for the PAPER MONEY • January/February 2002 • Whole No. 217 9 growing consensus for change, and September 11, 1789, saw Meredith win his commission. Both Washington's nomination and the Senate's confirmation were gained the same day. Meredith served well as Treasurer, remaining in office for 12 years until he resigned in 1801, citing his declining health. He died in 1817. The Push for Recognition Clearly, as first Treasurer of the U.S., Hillegas was a driving force in the American Revolution and development of a new nation. His replacement by General Meredith marked, to paraphrase Winston Churchill from 150 years later, "the end of the beginning" of the establishment of a basis for finance in America. Nonetheless, his nation's recognition was slow in coming. A groundswell seems to have begun in the late nineteenth century. In 1887 the first significant article describing Hillegas' career was published, fol- lowed rapidly by Emma St. Clair Whitney's 1891 book, Michael Hillegas and His Descendants, two 1894 articles by the Reverend Michael Reed Minnich, the donation of Hillegas' letter book to the Historical Society of Pennsylvania in 1905, and as the culmination that same year, Minnich's book A Memoir of the First Treasurer of the United States. Minnich was a distant relative of Hillegas, having descended from Michael's uncle John Frederick Hillegas. Minnich mounted an effective publicity campaign. In 1897, three years after his first two articles were published, Philadelphia's The Call printed a detailed historical account originally printed by the Washington Star describing early American finances based on ledgers, journals and records of the Continental Treasurer. The article itself noted that the information gleaned from the ledger books "form[ed] the first link in the chain of the histoiy of this country's financial dealings. . .during the trying period of the Revolution." Minnich wrote a letter to the editor congratulating the Star on the fine article, but reproached them by noting, "The author gives exact dates, but inadvertent- ly omits giving the name of the Treasurer who kept these invaluable records." Minnich of course knew full well that the answer, when published, would be "Michael Hillegas." Minnich had his 1905 hook privately printed in an edition of 500 copies, several of which he provided to Treasury Department officials. In the book, Minnich noted that Revolutionary financier Robert Morris had been honored on United States paper money (his portrait appears on 1862 and 1863 $1000 Legal Tenders as well as 1878 and 1880 $10 Silver Certificates), and that the state of Pennsylvania had gone so far as to erect a statue of Samuel Meredith on the basis of his being the "first treasurer of the United States," an error that caused Minnich much consternation. Meredith's supporters, in the form of the Samuel Meredith Monument Association, had, like Minnich, been lobbying for recognition. Twice they were able to have a bill passed in the Pennsylvania legislature sponsoring a Meredith monument, and twice the governor vetoed the bill. On the third try, the governor signed the bill into law and the state covered the $3,000 cost of the 25-foot tall monument, which included a life- sized statue of the general and a plaque honoring "Samuel Meredith, the first Treasurer of the United States of America, appointed by Washington." At the dedication, representative L.R. Fuerth of Honesdale, PA, spoke to the crowd of 4,000 saying that "rarely in the history of public benefactors has there been such tardy recognition of their merit as this demonstration discloses." Minnich begged to differ, when he wrote in the 1905 Hillegas Memoir: That no public recognition has been made in commemoration of such patriotic, long-continued, faithful execution of a trust of so great responsibility. . .is a per- version of civic interest. ...The failure to place the portrait of Michael Hillegas, the first Treasurer of the United States, upon the paper currency of the Country ... is an illustration of the official and historical neglect that has persistently fol- lowed this gentleman. Figure 5A. Matthew Clarkson, Hillegas' brother-in-law (pictured above), became Mayor of Philadelphia. Figure 5B. This November 29, 1775 Continental $5 note is signed by Clarkson. !IS 411 (aria*: ti Bearer to receive 51.1.)41 MIZIAO DO! i.er Oa rake tbece- iA 41thCOtte or Sii.e.X.X. .......weardieigry it Refeifil:e CONP4SS, t•i;iLette.t.4(tA • 25. } VT' 1)0 10 January/February 2002 • Whole No. 217 • PAPER MONEY When Minnich first approached the Treasury Department with his request for Hillegas to be honored, he was informed that Hillegas had never even been associated with the Treasury! Minnich provided rafts of source doc- umentation and gained a letter correcting Treasury's error, but still failed to see Hillegas' portrait placed on paper currency. Finally, Minnich found an ally in Secretary of the Treasury Leslie M. Shaw (1902-1907), who ordered that Minnich's data be verified from the Government's archives. Upon completion of that activity, Shaw ordered that Hillegas' portrait be placed on the next new issue of notes. On July 1, 1907, Reverend Minnich's persistence and Michael Hillegas' accomplishments were rewarded when Michael Hillegas was recog- nized by the country he helped form, with the issuance of the Series of 1907 (and later 1922) large size United States $10 Gold Certificate bearing Michael's portrait in the center. G.F.C. Smillie made the engraving, based on a portrait by A. Margaretta Archambault. Minnich was given one of the first notes to be printed. Hillegas' Personal Life Michael Hillegas married Henrietta Boude (rhymes with "loud") in Philadelphia on May 10, 1753. Henrietta was born on January 17, 1731/2, and died January 25, 1792. She could trace her ancestry back through the English peerage to Normandy and the year 1066, when William the Norman granted the De Giymestone estate to her ancestors. The Hillegases were close friends of John and Dorothy Hancock; John Hancock noted that they were "just such persons as I wish, they are free from Ceremony." Henrietta Hillegas, along with other leading women of Philadelphia, worked behind the scenes to aid the revolutionary cause. In 1781, she and four other women received a letter signed by General George Washington, in which he wrote to thank them for their efforts in aid of the army. Washington wrote: The contributions of the association you represent, have exceeded what could have been expected, and the spirit that animated the members of it entitles them to an equal place with any who have preceded them in the walk of female patrio- tism. It embellishes the American character with a new trait, by proving that the love of country is blended with those softer domestic virtues, which have always been allowed to be more particularly your own. The year 1753 actually saw the marriages of two Boude sisters -- Henrietta to Michael Hillegas, and Mary Boude to Matthew Clarkson, making him Michael's brother-in-law. Clarkson descended from two prominent New York families, on the Clarkson side dating back in America to 1690 when his namesake Matthew Clarkson was named Secretary of the Province of New York by William and Mary, in part on the advice of Daniel Foe, author of Robinson Crusoe (before he added the ''de" prefix to his last name). Matthew Clarkson, brother-in-law to Hillegas, was a merchant, the fourth clerk of the Philadelphia Contributionship (the insurance company founded by Benjamin Franklin), a justice of the court of common pleas and of the Philadelphia Orphans Court, an elected delegate to the Continental Congress (although he apparently never took his seat), and later the mayor of Philadelphia, serving during one of the worst yellow fever epidemics, in 1793. Michael Hillegas was a well-rounded individual, as can be seen from a November 28, 1775, entry in John Adams' diary: "Hillegas is one of our Continental Treasurers; is a great musician, talks perpetually of the forte and piano, of Handel, and songs and tunes. He plays upon the fiddle." He played Benjamin Franklin's Collectibles INSURANCE For The Paper Money Collector Your homeowners insurance is rarely enough to cover your collectibles. We've provided economical, dependable collectibles insurance since 1966. • Sample collector rates: $3,000 for $12, 510,000 for $32, $25,000 for S82, $40,000 for $132, $60,000 for $198, $1 per $1,000 above $60,000. • Our insurance carrier is AM Best's rated A+ (Superior). • We insure Paper Money, Stock Cer- tificates and scores of other collectibles in numerous categories. "One-stop" ser- vice for practically everything you collect.litum- ra VISA p • Replacement value. We use expert/ professional help valuing collectible losses. 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He even combined his hobby interest with his business by selling instruments and printed music; a copy of "Six sonatas pour le clavecin avec l'accompagnement d'un violon" ("Six Sonatas for Harpsichord and Violin") by Johann August Just with the notation "sold by Michael Hillegas at Second Street" survives. He operated his music shop -- the only specialty store for music in the colonies prior to the Revolutionary War, and virtually the only source for printed music -- from his borne during approximately 1759 to 1779. Thomas Jefferson was a client. Michael was also a member of the Fishing Company of Fort St. David's beginning in 1763, one of two exclusive clubs whose members included the most prominent citizens of Philadelphia. Its clubhouse housed one of, if not the, first museum in Pennsylvania, with a collection of Indian items and objects of natural history. Michael's interest in these areas continued throughout his life. In the 1790s he donated items to Charles Willson Peale's famous muse- Continental Currency note signed by Michael Hillegas' son Samuel, who signed notes of the third through sixth Continental Loan Office certificate Figure 6A. A November 2, 1776, $30 issues. Figure 6B. A $400 um. On April 8, 1768, Michael became a member of the American Society for Propagating Useful Knowledge, which the next year united with the American Philosophical Society, founded by Benjamin Franklin. between Arch and Race. They also had a country house at Point-no-Point. Michael and Henrietta lived for most of their lives on Second Street, Michael moved to Sixth Street at least four years after Henrietta's 1792 death,paying 6% interest, issued in Georgia where he remained until his death in 1804. Michael and Henrietta had 10dated February 22, 1777 and signed by Samuel Hillegas (courtesy of William children, four of whom died very young. The eldest child was Samuel Anderson). Hillegas, born February 17, 1754. Samuel was educated at the Academy of the College of Philadelphia, the precursor to today's University of Pennsylvania. Samuel married Mary Milnor on November 17, 1778. They had five children, four of whom had no children of their own; the fifth child, Maria Hillegas, mar- ried Jacob Rheem in 1816, and had a son named Henry Kuhl Rheem (named after his uncle, Henry Kuhl, of whom more below). This grand- son of Samuel Hillegas and great-grandson of Michael served in the Civil War, and was present at the surrender of Robert E. Lee. Samuel Hillegas: Assistant Treasurer Samuel Hillegas was appointed by Congress to sign Continental Currency on March 9, 1776, at age 22. Although never given a title or a salary, Congress authorized Samuel Hillegas to perform key duties on its behalf along with and in support of his father. For example, in addi- tion to issuing currency, the Continental Congress also raised money by taking loans O from private citizens. In exchange for coin, bills of exchange, or Continental Currency, interest-bearing loan office certificates were issued. These certificates ini- tially paid interest in Continental Currency, were later changed to pay the inter- est in specie in an attempt to il.."--,..*---T4 ''.r-• .-.111411141--"55-E6rilaW414° 72.741-t i / r ,, , , i %/////' :=--- :-- -11 e It ri,C" T E 55 ST eq 'FE S of tlE 54 E R -j G A acknoe;'dge rim Receipt q( TeitiR .`Yandred Dollars from .) the . . Day of or :Pearer,i"bicb tkit fronili. to pa , to the laid frith gaterift annually, at the Rate of Six (eat. pre .1nnwm, agreeabl% to a Rejoitaior of tin: 7,inited StateJ, palTed the Tr.:Awry-Serom/ Day of 1'i.--7 briva,;, I 7 7 7. \ V ands my Hand this „ ' Day of .dtmo Dommi PAPER MONEY • January/February 2002 • Whole No. 217 13 attract more loans, and yet later reverted to paper money interest payments. A Congressional resolution of October 3, 1776, required each issued certificate - - which at different times came in denominations of $200, $300, $400, $500, $600 and $1,000, each printed with a different color -- to be signed by either Michael Hillegas or Samuel Hillegas, and countersigned by the commissioner of the loan office for the state in which the loan was made. Samuel Hillegas, in addition to overseeing the entire domestic loan program with his father, served as the United States representative at both the Georgia and South Carolina loan offices, until the appointment of Francis Hopkinson as Treasurer of Loans on July 27, 1778; and in 1780 he served as a substitute loan office repre- sentative for Joseph Borden, the New Jersey loan office representative. He received total payment of $160 from Congress as his commission for signing loan office certificates. In July 1781, Hopkinson's office was eliminated and responsibility reverted back to Michael Hillegas as Treasurer. The Continental government also ran lotteries to raise funds, and Samuel Hillegas served in a similar fashion as with the loan office certificates. When prizes were awarded, winners in the first three classes of tickets were paid in cash; other prizes were paid with treasury bank notes, which bore inter- est at 4% per year. A Congressional resolution of May 14, 1777, required that these notes be signed by either Michael Hillegas or Samuel Hillegas, and countersigned by one of the lottery managers. Cashier of the State Bank at Camden, New Jersey Samuel and Mary Hillegas had five children, three boys (one of whom died in infancy) and two girls. Neither of the adult male chil- dren had children of their own, so none of the Hillegas families in the U.S. today can claim direct descent from Michael Hillegas. Samuel's second child was named William Hillegas, born in approximately 1780 and died in 1830. William, Michael's grandson, served 14 years as cashier of the State Bank at Camden. The Kuhls and the Hillegases Michael and Henrietta Hillegas' ninth child was Deborah Hillegas, born August 7, 1772 -- 18 years younger than her brother Samuel. On December 23, 1795, Deborah married Hem Kuhl in Philadelphia. Henry, born August 19, 1764, was the son of Frederick Kuhl, a leading citizen of Philadelphia, who had become Michael Hillegas' brother-in-law when he married Michael's sis- ter Susanna in 1752. Thus Deborah Hillegas and her husband Henry Kuhl were first cousins. Both Frederick and Henry Kuhl played roles in early American fiscal and banking history. Born in 1728, Michael Hillegas' brother-in-law Frederick Kuhl was named a member of the Committee of Inspection in 1775. He was one of four co-managers of the American Manufactory, aimed at teaching women the skills needed to spin yarn so as to avoid the necessity of importing woolen products from Britain. In the last elections held for the Pennsylvania Assembly under the proprietary government in April 1776, Kuhl ran as a Whig, but Tories Figure 7. An undated $5 obsolete bank note from the 1810s on the State Bank at Camden, New Jersey, signed by William Hillegas, grandson of Michael Hillegas, as cashier, and long- time bank president Richard M. Cooper. Cooper 's signature as presi- dent dates the note as from no earlier than 1813. Ann° Dom. I , t'4 s x cf9t,?zzgoky S, acceri-d. cf:),,,g, to an fit?. of General snbhj of Pent? filva- a, pa pd in.dhe 13t1.7 Year of the R eigtI Di - " Majoy GEORGEt - 14 Third • c.r., the Tzvegti,tADary of M.. tre,fs.wiror,, tzvc_ -14 1775 and 1776, Figure 8A above. Fractional denomination Continental notes in Uncirculated condition, such as this one signed by Michael Hillegas' brother-in-law Frederick Kuhl, are quite rare. Figure 8B left. Portrait of Frederick Kuhl by St. Memin, 1802. Figure 8C below. A March 20, 1773, 6s Pennsylvania colonial note, serial number 15, signed by Frederick Kuhl and Michael Hillegas' first business partner, Jacob Winey. the Farmers Pennsylvania, it commenced operations in 1807 two years before obtaining a charter from the Legislature. Its charter stated that a majority of the board of directors must consist of "farmers, mechanics or manufacturers actually employed in their respective professions." The bank had a capital of $1,250,000 and had to provide the state $75,000 in bank stock as part of a deal • and and signed notes from the 1st through the 4th issues. He also signed Pennsylvania colonial notes of the March 20, 1773 issue. Frederick's son Henry Kuhl had a significant involvement in early American finance and banking. As Michael Hillegas' nephew and later his son-in- law, and as a scion of a wealthy Philadelphia family in his own right, Henry Kuhl took a healthy position in Continental loan office certificates. As of 1790, when about $11 million in principal value remained outstanding, Kuhl held $51,344 in certificates obtained directly from the Hillegas-run Treasury (as opposed to those issued via the various state loan offices) and was among the top 25 holders of the $2.5 million in certificates that had been issued in this manner. Considerable speculation took place in these certificates, and it cannot be ascertained from the remaining records what portion of Kuhl's hold- ings represented certificates issued in his name for loans to which he had subscribed, versus other cer- tificates he may have obtained in the secondary mar- ket. In 1793 Henry Kuhl became chief clerk in the U.S. Controller's Office, and when a vacancy arose for Comptroller of the Treasury, President Washington appointed Henry Kuhl acting Comptroller on April 10, 1795. He served until June 26, 1795. In 1798, Kuhl became Assistant Cashier of the first Bank of the United States. Henry Kuhl also was one of the founders of the Philadelphia Academy of Fine Arts in 1805. Later, he became Cashier of Mechanics Bank of Philadelphia. One of the first banks in January/February 2002 • Whole No. 217 • PAPER MONEY14 )O1 -,--- .., ,.. . .' _,. •! dia...-_:40.:47......66- .......,.. 7.,........m. i:4 No Y,',.3_41 2)* ONE4 SIXTI-1 ol, ---:,i DOLLAR, ' ,1 Accord/7r a Re/o174-.4..ilien 67 .CO ▪ R ESS, 14',Ifed at Phi- • Febt , ary 17, 7P, 1 oNE SIX7H-11L.-4 ti„Ah __; took three of the four seats (the sole victorious Whig was George Clymer, Michael Hillegas' co-treasurer noted above; Kuhl placed sixth with 904 votes, 17 short of the number needed to claim one of the four winning spots). The unpopularity of the victorious party led the patriots to overthrow the proprietary government and create one of their own. Frederick Kuhl became a member of the State Constitutional Convention to help form the new state government, and was named one of the 25 members of the Council of Safety when that group was established to replace the former Committee of Safety on July 23, 1776. In 1784 he became a member of the Assembly. Five years earlier, the Assembly had completely replaced the adminis- tration and board of the College of Philadelphia due to the open Toryism of many of its trustees, and renamed the school the University of the State of Pennsylvania. In 1785, Kuhl was named a trustee of the university. He continued to serve through its change to the University of Pennsylvania in 1791 and continued on until 1800, when he resigned. He was also elected to the Common Council of Philadelphia in April, 1790. Frederick Kuhl was appointed by the Continental Congress to sign Continental Currency three times, in C. TI1V. VA-RAVERS AND NIECRANICS OT BUMS SON 7:NifialCO 0.11 (IOU alkA... RREs , Figure 9A top. A March 19, 1826, $10 obsolete bank note on the Farmers and Mechanics Bank of Philadelphia, signed by Frederick Kuhl's son Henry — Michael Hillegas' nephew and son-in- law — as cashier. Figure 9B above. Portrait of Henry Kuhl by St. Memin, 1802 (reversed). Figure 9C below. Farmers and Mechanics Bank. PAPER MONEY • January/February 2002 • Whole No. 217 15 to receive its char- ter. The cashier at this time was the primary active operating officer of the bank. The President, Joseph Tagert, had many outside business interests and pro- vided the bank only as much time as was needed for his administrative responsibilities. On the other hand, by charter, the cashier could hold no outside business interests and was required to establish a bond of S40,000 with at least two sureties. From the bank's inception through 1854, it operated in the former John Lawrence mansion in Philadelphia, where Admiral Howe had made his headquarters during the occupation and which was later the residence of both American General Henry Knox and Secretary of State Timothy Pickering. The bank's building from its founding until 1854 (Figure 9C, shown below) was directly across the street from the Second Bank of the United States, which itself was next to the Philadelphia Bank, of which George Clymer was first president. Henry Kuhl died on August 8, 1856, with an estimated wealth of $50,000. Henry Kuhl was not the only relative of Michael Hillegas to parlay the family name into a successful banking career, nor were he and his father the only Kuhls to marry Hillegases. In fact, the Kuhl and Hillegas families were quite close, beginning back in Germany and blossoming in America. Michael Hillegas Sr.'s elder sister, the unnamed woman who accompanied her brother John Frederick Hillegas to Philadelphia in 1727, became engaged to a Mr. Kuhl (first name not known) in Germany, but they did not marry until he arrived in America, some time later than she did. Mr. Kuhl and Mrs. (Hillegas) Kuhl had at least four children, cousins of Michael Hillegas, two who were sea captains and two who went into banking. The documentary record does not provide the names of the two cousins who went into banking, but it does indicate that both became very successful -- one in a bank in Philadelphia, and the other in a bank in Camden, New Jersey. While it is far from certain, it seems likely that the bank which employed this Kuhl/Hillegas relative may have been the State Bank at Camden. Pottsville, PA Bankers in the Hillegas Family The banking influence of the Hillegas family goes still further. Michael and Henrietta Hillegas' fourth child was Margaret Hillegas, born November 21, 1760 (sister to Samuel and Deborah). Margaret married William Nichols on January 24, 1783, as the war was nearing its official end. Nichols, born in Ireland in 1754, emigrated to America and became a soldier in the Revolution. The Nichols had three children, the eldest of whom was `CS , 7,1, a ;, ; wty ,. );1, akalt 6:1313 ,w Ae./....,...,,‘,/ ' \ / January/February 2002 • Whole No. 217 • PAPER MONEY16 Figure 10. This punch-cancelled December 1, 1828, $1 obsolete bank note on the Miners Bank was issued in the first year of the bank's existence, and is unlisted in Hoober. It is signed by Michael Hillegas' grandson Francis Boude Nichols, who served as the first president of this bank, the first in Pottsville, from 1828 through 1831 Figures 11A, B, C & D. Francis Boude Nichols alongside the first Miners Bank building, built during his presidency. Next to it, the remodeled Miners National Bank, completed during the presidency of his son-in-law, William Lebbeus Whitney (right). Francis Nichols, born November 5, 1793, in Pottstown, Pennsylvania. Francis was a midshipman in the United States Navy appointed by President Madison, and served in the War of 1812 on the Chesapeake. He sustained an injury in battle in June, 1813, was captured by the British and sent to Halifax, Nova Scotia, where he was soon paroled. He returned to the United States as part of a prisoner exchange. Francis took his grandmother's maiden name, Boude, as his middle name in 1814, apparently to distinguish himself from the Revolutionary War general Francis Nichols when he married the general's daughter Anna Maria Nichols. He became a successful druggist in Philadelphia, but in 1820 he became an early resident of Pottsville (by 1830 the population had reached only 2,464). He became the second Chief Burgess of the Borough, and the first captain of the First Schuylkill County Cavalry. Francis also became the first President of the Miners' Bank of Pottsville when its charter was issued on September 29, 1828, with a capitalization of $200,000. He resigned this position on February 25, 1831, and was replaced a few days later by John Shippen. Francis Boude Nichols died on June 30, 1847. Francis Boude Nichols and Anna Maria Nichols had nine children, two of whom are of interest to this study. Their sixth child, Francis Michael Nichols (born Feb. 24, 1827) became bookkeeper at the U.S. Mint in Philadelphia, a position he held through his death on Dec. 23, 1890. Their final child, Emma St. Clair Nichols (born on Sept. 26, 1840) married William Lebbeus Whitney in October, 1862. Mrs. Whitney went on to author Michael Hillegas and His Descendants, a synopsis of her great-grandfather's career and a genealogical study published privately in 1891. Her husband William Lebbeus Whitney was born January 16, 1823, in Philadelphia. In December, 1864, the Miners Bank -- then with a circulation of $360,000 -- was chartered as the Miners' National Bank of Pottsville, Pennsylvania (charter #649). Six years later Whitney became the bank's cashier. In 1882, after the retirement of John Shippen -- who had been president of the bank for all 51 years since the resig- nation of Francis Boude Nichols -- William Lebbeus Whitney, the husband of Michael Hillegas' great-granddaughter, was promoted to president of the bank, a position in which he served until 1894. 4,tr- — —41449,7 I Itt MAUI:111 IIIIII1P.S tofgr._<get.„Argiqq* Mim a111141M1inota • • / 4427 Notkatmtl 1890 $1,000 "Grand Watermelon" Note $500 1880 Legal Tender Serial #1 Washington Brownback 413-114 J .,_• GSitilitaatraailattillIto Gold C We strongly recommend that you send your material via USPS Registered Mail insured for its full value. Prior to mailing material, please make a complete listing, including photocopies of the note(s), for your records. We will acknowlege receipt of your material upon its arrival. If you have a question about currency, call Lyn Knight. He looks forward to assisting you. (-J'Cin hi PAPER MONEY • January/February 2002 • Whole No. 217 17 Lyn Knigh Currency Auctions Deal With The Leading Auction Company in U.S. Currency If you are buying notes... You'll find a spectacular selection of rare and unusual currency offered for sale in each and every auction presented by Lyn Knight Currency Auctions. Our auctions are conducted throughout the year on a quarterly basis and each auction is supported by a beautiful "grand format" catalog, featuring lavish descriptions and high quality photography of the lots. Annual Catalog Subscription (4 catalogs) $50 Call today to order your subscription! 800-243-5211 If you are selling notes... Lyn Knight Currency Auctions has handled virtually every great United States currency rarity. We can sell all of your notes! Colonial Currency... Obsolete Currency... Fractional Currency... Encased Postage... Confederate Currency... United States Large and Small Size Currency... National Bank Notes... Error Notes... Military Payment Certificates (MPC)... as well as Canadian Bank Notes and scarce Foreign Bank Notes. We offer: • Great Commission Rates • Cash Advances • Expert Cataloging • Beautiful Catalogs Call or send your notes today! If your collection warrants we'll be happy to travel to your location and review your notes 800-243-5211 Mail notes to Lyn Knight Currency Auctions P. O. Box 7364, Overland Park, KS 66207-0364 1882 $1,000 Gold Certificate Currency Auctions A Collectors Universe Company Nasdaq: CLCT P.O. Box 7394. Overland Park. KS Iiii207 • 8110-243.54 1 • 913-338-3779 • Fax: 913-338-.1754 • E-mail: Kailksighiarraol.rom • vivttrlynknight.com Figures 13A & B (above). The two portraits mentioned in Gilbert Stuart's November 2, 1794, letter: his 1795 portrait of President George Washington (the basis of G.F.C. Smillie's engraving used on many $1 notes) and his 1793-4 portrait of his uncle, Captain Joseph Anthony (1738-1798). The American artist Benjamin West said of Stuart, "He nails the face to the canvas." Figures13C & D (below). Stuart's portraits of his cousin Joseph Anthony Jr. (1762 — 1814) and his cousin's wife ("Mrs. Joseph Anthony Jr.") Henrietta (Hillegas) Anthony (1766-1812, daughter of Michael Hillegas), painted circa 1798 in Philadelphia. Both portraits are now in the Metropolitan Museum of Art. January/February 2002 • Whole No. 217 • PAPER MONEY18 ,0 ,y 00t=plici5223k=mizto,A=i1111/) - 1- -- bliii, ctikkr, --- — ',.-a--',--,,,,10 - ------75;23 ■ f), /I - ( ( ltkrrl- "vort: rs .s4.7critip.' 't.,'.74-1112,,Cir': .} ----Rs5 ''• - ,-. •,,, 44. i.,,,,,,, ___.. 1 (i.,,, „Li s° , . „_,,exe,. -. 7,e4..0y.e. \-......--'• Bo.. :6 . ‘,.. ,.....s _ ii),,,,„.,„,,,.„,...4._ , _ :.•„..... r., ,J.,...t.,,,„,,,ir ...I II t e', e, , /777; , 0 / .1 : . . . - f N.:'.. 3 •. ... • ' I i Ail ... 41;4 f- . t , ,,C.3 'si t , 11i141-1.1'''1' ..... . ViajigiNtlitep ' 1 ,vm<1114-ll.telSetwyott'l)em tmA , ..r 44 .-- r .-4,- /wi,:)///fjs 1.014.4aNt(4 /„ It . 11; f /.2 ri- .. - 1...... t . - - .--cazuvoc7=) or aovEnsumearas The Hillegas Connection to a Most Famous Portrait There is yet a further link between the Hillegas line and the history of United States paper money. Michael and Henrietta Hillegas' sixth child, also named Henrietta, was born on September 23, 1766. In October, 1785, she married Joseph Anthony, Jr., a success- ful Philadelphia silversmith and a cousin to Gilbert Stuart Figure 12. The only reported Series 1875 First Charter National Bank Note on the Miners National Bank of Pottsville, PA. William Lebbeus Whitney signed this note as cashier and later became the third president of the bank, whose first president had been his father-in-law. Whitney was the husband of Michael Hillegas' great-granddaughter Emma St. Clair (Nichols) Whitney. (Stuart's mother Elizabeth was the sister of Captain Joseph Anthony Sr.). Gilbert Stuart is well known to United States currency collectors as the painter of the portrait used by G.F.C. Smillie for his 1918 engraving of George Washington, used on large size $1 Federal Reserve Bank Notes in that year, large size $1 Legal Tenders and Silver Certificates in 1923, all $1 small size Federal Reserve Notes and other classes of currency. In a November, 1794, letter to his uncle Joseph Anthony Sr., Stuart wrote that he was readying to travel to Philadelphia. "The object of my journey is. . .to secure a picture of the President, and [to] finish yours." Later, Stuart completed portraits of his cousin Joseph Anthony Jr., and Henrietta (Hillegas) Anthony, both of which are now in the Metropolitan Museum of Art. Conclusion The reach of Michael Hillegas and his rela- tions into American banking is extensive. We are fortunate for the documentation left to posterity by Michael's descendants and relations, who were simply following in their forefather's footsteps. On April 2, 1781, Michael Hillegas was appointed by the Pennsylvania General Assembly to "revise, compare, correct, and publish in one volume, the resolves" of the various Pennsylvania revolutionary committees and conventions. On undertaking this assignment, he wrote, "the importance of preserv- ing the history of the present revolution, and trans- mitting authentic records to posterity, is evident, and ought, doubtless, to be attended to while we have the means of doing it in our power. . .The different steps taken to secure our liberty and establish our independence will be clearly seen, and the chain of our history completed." Through the efforts of paper money collectors ever since, we are most fortunate as well to be able to present this chain of history utilizing United States currency of a wide array of types: Continental, Colonial, Obsolete, National, and Large Size Federal notes, as shown here, all contribute to the telling of the Hillegas Family story. Acknowledgment The research conducted for this article was inspired by a presentation made by Wendell Wolka at an SPMC meeting during the ANA convention in Philadelphia, on August 12, 2000. His generous sharing of historical material relating to the State PAPER MONEY • January/February 2002 • Whole No. 217 19 CHECK THE "GREENSHEET" GET 10 OFFERS THEN CALL ME (OR WRITE) FOR MY TOP BUYING PRICES The Kagin name appears more often than any other in the pedigrees of the rarest and scarcest notes (U.S. Paper Money Records by Gengerke) BUY ALL U.S. CURRENCY Good to Gem Unc. I know rarity (have handled over 95% of U.S. in Friedberg) and condition (pay over "ask" for some) and am prepared to "reach" for it. Premium Prices Paid For Nationals (Pay 2-3 times "book" prices for some) BUY EVERYTHING: Uncut Sheets, Errors, Stars, Special Numbers, etc. I can't sell what I don't have Pay Cash (no waiting) - No Deal Too Large A.M. ("Art") KAGIN 505 Fifth Avenue, Suite 910 Des Moines, Iowa 50309-2316 (515) 243-7363 Fax: (515) 288-8681 At 82 It's Still Time - Currency & Coin Dealer Over 50 Years I attend about 25 Currency-Coin Shows per year Visit Most States (Call, Fax or Write for Appointment) Collector Since 1928 Professional Since 1933 Founding Member PNG, President 1963-64 ANA Life Member 103, Governor 1983-87 ANA 50-Year Gold Medal Recipient 1988 20 January/February 2002 • Whole No. 217 • PAPER MONEY Bank at Camden, NJ, kicked off this new look at an important revolutionary figure, and his continued influ- ence through the generations down to today. BIBLIOGRAPHY Anderson, William G. The Price of Liberty: The Public Debt of the American Revolution. Charlottesville, VA: University Press of Virginia (1983). Bell, Jr., Whitfield J. Patriot-Improvers: Biographical Sketches of Members of the American Philosophical Society, Volume 2, 1768. Philadelphia: American Philosophical Society (1999). Bradbury, M. L., "Legal Privilege and the Bank of North America," Pennsylvania Magazine of History and Biography, Vol. 96:139-166 (1972). Du Bin, Alexander. Hillegas Family and Collateral Lines of Nicholas -- Smith -- Anthony -- Philadelphia: The Historical Publication Society (1939). Egle, William Henry, M.D. "Michael Hillegas: First Treasurer of the United States," Pennsylvania Magazine of History and Biography, Vol. 11:408 (1887). Ferguson, E. James. Power of the Purce: A History of American Public Finance, 1776-1790. Chapel Hill, NC: University of North Carolina Press (1961). Ford, Worthington C., et al., eds. journals of the Continental Congress, 1774-1789. Washington: U.S. Government Printing Office (1904-1937). Garraty, John, Mark Carnes, eds. American National Biography. NY: Oxford Univ. Press (1999). Hall, John. Memoirs of Matthew Clarkson of Philadelphia, 1735-1800. Philadelphia: Thomson Printing Company (1890). Hessler, Gene. The Comprehensive Catalog of U.S. Paper Monty: All United States Federal Currency Since 1812, 6th Edition. Port Clinton, OH: BNR Press (1997). HolcIsworth, John Thom. Financing an Empire: History of Banking in Pennsylvania. Chicago and Philadelphia: The S.J. Clarke Publishing Company (1928). Horle, Craig, et al, eds. Lawmaking and Legislators in Pennsylvania: A Biographical Dictionary, Vol. Two (1710-1756). Philadelphia: University of Pennsylvania Press (1997) "Meredith Monument Unveiled Yesterday," in Sminton Tribune, June 9,1904. "Michael Hillegas, the Nation's First Treasurer," The Magazine of History, with Notes and Queries, Vol. 6:4 (October 1907), p. 221. Miles, Ellen G. Saint-Mervin and the Neoclassical Profile Portrait in America. Washington, D.C.: National Portrait Gallery and Smithsonian Institution Press (1994). Miners National Bank 1828-1928: A Century of Progress. Pottsville, PA: Miners National Bank (1928). I HAVE JUST RETURNED FROM THE ST. LOUIS il_Paper Money show. While I was there, I saw an active bourse with many great notes in dealers' cases. At St. Louis, the SPMC board voted to provide cash awards for the best articles appearing in Paper Money. These awards are First Place $300, Second Place $200 and Third Place $100. We also have a new librarian, SPMC Governor Robert Schreiner. It will take a little while to get the library shipped to Bob, and for him to get organized. We are also going to add to the library, and Bob is going to have a librarian's column to corn- Minnich, Michael Reed. "John Frederick Hillegas, 1685 -- 1765," Pennsylvania Magazine of History and Biography, Vol. 18:85 (1894). . "Some Data of the Hillegas Family," The American Historical Review, Vol. I, No. 1, Sept. 1894, pp. 23-28. . A Memoir of the First Treasurer of the United States, with (C11.9no-o5n)ological Data. Philadelphia: Published for the author Munsell, W.W. History of Schuylkill County, Pennsylvania. NY: W. W . Munsell & Co. (1881). Newman, Eric P. The Early Paper Money of America. Iola, WI: Krause Publications (1997). Nuxoll, Elizabeth M. and Mary A. Gallagher, eds., The Papers of Robert Morris 1781-1784. Vol. 9. Pittsburgh: University of Pittsburgh Press (1999). Park, Lawrence. Gilbert Stuart: An Illustrated Descriptive List of His Works. New York: William Edwin Rudge (1926). Roeber, A.G. Palatines, Liberty and Property: German Lutherans in Colonial British America. Baltimore: The Johns Hopkins University Press (1998). Rolater, Fred S., "Charles Thomson, 'Prime Minister' of the United States," in Pennsylvania Magazine of History and Biography 101:323-348 (1977). Scharf, J. Thomas, Thompson Westcott. History of Philadelphia, 1609-1884. Philadelphia: L. II. Everts & Co. (1884). Schell, Jack Stewart. The Hillegas Family in Europe and Early America. Los Angeles: Black-Foxe Military Institute (1947). Taricani, Jo Ann, "Musical Commerce in Eighteenth-Century Philadelphia: The Letters of Michael Hillegas," Pennsylvania Magazine of History and Biography, Vol. 113:609-625 (1989). "Three Generations of the Clymer Family," Pennsylvania 11/Ittgaz,ine of History and Biography, Vol. 9:353-55 (1885); "Letters and Documents of the Clymer Family," 31:43-47 (1907). Twohig, Dorothy, ed. The Diaries of George Washington. Charlottesville, VA: University Press of Virginia (1979). . The Papers of George Washington: Presidential Series. Charlottesville, VA: University Press of Virginia (1987). Wainwright, Nicholas B. History of the Philadelphia National Bank: A Century and a Half of Philadelphia Banking, 1803-1953. Philadelphia: The Philadelphia National Bank (1953). Wealth and Biography of the Wealthy Citizens of Philadelphia. By a Member of the Philadelphia Bar. Philadelphia: G. B. Zieber & Co. (1845). Weigley, Russell, et al, eds. Philadelphia: A 300-Year History. NY: W.W. Norton & Co. (1982). Whitley, William T. Gilbert Stuart. Cambridge, MA: Harvard University Press (1932). Whitney, Emma St. Clair. Michael Hillegas and His Descendants. Pottsville, PA: Private Edition of 100 copies (1891). :- municate to the membership. The library is your library, so please use it. We also have new membership applications. Write to me if you would like one or several mailed to you. Remember that membership is the life blood of our organiza- tion. Also, if you have not paid your dues for 2002, please do so now. We also had an SPMC general meeting at St Louis. SPMC has three new Honorary Life Members: Ron Horstman, Eric Newman and Robert Lloyd. All have added immensely to SPMC and/or syngraphics. Ron and Eric were able to attend and ANA president John Wilson spoke on behalf of Mr. Lloyd. At the meeting, Treasurer Mark Anderson gave a very informative slide program on the FNB of Grantsburg, WI. Mark's grandfather signed large and small size National Bank Notes as cashier of this bank. It was a very nice program enjoyed by all. Please attend our meetings at shows across the nation. Camaraderie and education is what SPMC is all about. Frank (L-R) SPMC President Frank Clark presents special HLM cards to Eric P. Newman and Ron Horstman Sept. 17 during ceremonies at the St. Louis Paper Money Show. Also honored with a similar award was Robert Lloyd, who could not attend due to ill health. PAPER MONEY • January/February 2002 • Whole No. 217 21 SPMC Board Honors Newman , Lloyd , Horstman THREE LONGTIME MEMBERS OF THE Society of Paper Money Collectors were named Honorary Life Members of the Society at ceremonies during the St. Louis Paper Money Show in mid-November (Bank Note Reporter photo by Todd Haefer at right). The illustrious trio has racked up more than a century of combined membership in SPMC. Honored were legendary St. Louis Colonial Currency authority Eric P. Newman, a Charter Member of the Society (#290), who joined in 1962; collector and author Robert H. Lloyd (#2251) who came aboard in 1968; and numismatist and financial historian Ron Horstman (#1526, LM #12), who filled out a membership application to SPMC in 1964. Robert H. Lloyd was given HLM #14. Mr. Lloyd's contributions to the hobby span literally scores of years. He was an early collector of U.S. currency, writing about collecting $1 and $2 notes by type in Numismatic Scrapbook Magazine when that was THE outstanding periodical in U.S. numismat- ics in the 1950s-'60s. Those articles were collected together by Lee Hewitt, who issued them as a booklet at a time when there wasn't much else available to the collector. Lloyd also was an early collaborator with William Donlon and Lee Hewitt on the Hewitt-Donlon Catalog of U.S. Small Size Paper Money, where he was specially recognized for his many contributions to that work. Although, the Donlon cat- alog preceeded most of our current members, it was a great resource for its time. Mr. Lloyd also authored a pamphlet on Nationals, Federal Reserve Bank Notes and Federal Reserve Notes in 1953, and over the years has also pub- lished 31 articles in Paper Money. His most recent remem- brances appeared in the special 40th Anniversary Issue (JAN/FEB 2001). Mr. Lloyd is Honorary Life President of the Buffalo, NY Numismatic Association. He was honored by the American Numismatic Association with a medal of merit at its Atlanta convention this year. He was also given a 75- year continuous membership award, the first in the organi- zation's history. "We had to invent the award for Bob," ANA President John Wilson, who spoke on Mr. Lloyd's behalf at the ceremony, noted. Wilson added that Lloyd served on the ANA board in 1929, incredibly 72 years ago! Very little introduction is necessary for Eric P. Newman, a revered scholar of both paper money and coinage, who was presented with HLIVI #13. His The Early Paper Money of America, originally published in 1967, has gone through five editions, and is the definitive work on that field. Additionally his collaboration with Ken Bressett on The Fantastic 1 804 Dollar (originally published in 1962) cleared up cobwebs surrounding the "King of American Coins." Newman's collecting and scholarship has also con- tributed to a variety of other numismatic specialties, princi- pally U.S. In 1976 he co-edited with Richard Doty Studies on Money in Early America, a classic reference work published by the American Numismatic Society in New York. A lawyer and business executive, Mr. Newman was one of the original Governors of SPMC upon the organiza- tion's founding. He penned the first feature article pub- lished in Paper Money, "Legalized Swindling System," which led off the second issue of this magazine in 1962. Newman also served on the SPMC Board 1973-76, and as the Society's Vice President 1975-79. He was Regional Coordinator in 1977, and in 1968 was honored with the Nathan Gold Memorial Lifetime Achievement Award. Mr. Newman has also received the ANS Huntington Medal (1979), the ANA Medal of Merit, Farran Zerbe Medal and numerous Heath literary awards. He was elected to the ANA Hall of Fame. For two decades, Newman operated a numismatic museum in his native St. Louis. Ronald Horstman is familiar to most readers of this magazine, having served on the SPMC Board for the past 14 years. Awarded HLM #12, he has published 21 articles in Paper Money. Mr. Horstman has chaired the St. Louis Paper Money Show, at which the ceremony occurred, for PCDA for many years. Interestingly, Horstman and Newman, both of Missouri, have been longtime friends and compatriots. They collaborated on the 1987 Paper Money article "The Earliest Known Error on U.S. Paper Money." Horstman's reflections on his friend, the late John Hickman, appeared in the 40th Anniversary Issue. Over the years Mr. Horstman has served the Society tirelessly. He was New Member Coordinator (1981-1995) and Member Recruitment Chairman (1987-95). In 1991 and 1992 he won the Society's Recruiting Award. Ron also served as Nominating Committee Chair from 1989-93. In 1988 and 1989 he won SPMC Literary Awards for articles on St. Louis Demand Notes and Civil War Greenbacks, respectively. -- Fred Reed STATE OF (CT 4dhAwQda pejWa 19 ,-, zwaresuvraix. de.a. 22 January/February 2002 • Whole No. 217 • PAPER MONEY Part 3: More Additions to A Catalog of SPMC Memorabilia By Fred Reed AYEAR AGO IN THESE PAGES, WE BEGAN A trial listing of SPMC memorabilia for the 40th Anniversary Issue of Paper Money (JAN/FEB 2001). Publication of that list brought forth additional pieces stowed away over the years by Neil Shafer. These were illustrated in the JULY/AUG 2001 issue. Now veteran SPMC life member David D. Gladfelter has uncovered additional items to supplement several pieces issued recently for the Society's 40th anniversary celebration. As before, we eagerly anticipate additional longtime members providing yet unlisted SPMC pieces for updates in future issues of this magazine. Check your drawers and closets, and we'll share these important pieces of Society history with the rest of the member- ship. Who'll be the next "old timer" to fill in some gaps? 1985 Cherry Hill SPMC 1985 Souvenir Breakfast Ticket This certifies that the Banknote Intaglio printing on the face of this document was printed in 1984 by the American Bank Note Company. Attested to by: • 474' Salvatore F. D'Amato President American Bank Note Company As noted in the original listing, the Society held a large breakfast celebration at the show it sponsored in Cherry Hill, NJ in 1985. Two types of tickets were illustrated in the JAN/FEB catalog. Reported here for the first time is a second variety of the recycled $100 Bank of the State of Indiana note engraving, which would serve as host for many subsequent SPMC souvenir tickets. Overprinted on the back is a different mini-note than previously illustrated. This time it is a $5 on the Commercial Bank of Perth Amboy, NJ (Haxby NJ 445- G446) "a common, but popular note," according to Garden State resident Gladfelter. Size: 8 x 3.75 Price: $8.00 1988 Memphis SPMC 1988 Souvenir Banquet Ticket This certifies that the Banknote Intaglio printing on the face of this document was printed m 1984 by the American Bank Note Company. Attested to by: Salvatore F. D'Amato President American Bank Note Company David Gladfelter also forwarded one of the 1988 SPMC Banquet Tickets imprinted on the $100 Bank of the State of Indiana engraving, about which questions had been raised in the first supplement to this catalog' appearing in the JULY/AUG 2001 issue. As you will recall, there are two vari- ants of this ticket, one with a fourth issue 10-cent U.S. Fractional note imprinted on the back and the other with a Confederate $10 imprint. On the Fractional Currency variety originally illustrated in the catalog, a partial Society legend and a partial ABNCo statement raised the question whether all examples of that variety were "errors." Gladfelter's specimen answers that question in part, and his logic certainly answers it unequivocally. His specimen has complete imprints of both the SPMC legend and the ABNCo statement by its President Salvatore F. D'Amato. Since both imprints were placed on the back of the tickets "at different times," Dave points out, the originally illustrated specimen with the "error" imprint must be a photocopying blunder and not a true "error." We agree, Dave. Thanks for the heads up. 2001 Memphis SPMC 2001 Souvenir Breakfast Ticket Volume XL Number 1 Jan/Feb 2001 Society of Paper Money Collectors 1961-2001 The Society of Paper Money Collectors, Inc. was finmded in Atlanta, GA in 1961 "to promote, educate and encourage the study and collecting of paper money." During its four decades, the Society has published more than 200 issues of its award-winning magazine, Paper Money, and 20 books on a variety of syngraphic subjects. Annual meetings are held in June at the Memphis International Paper Money Show. The Society co-sponsors an annual show in St. Louis in the Fall, and regional events are staged throughout the year at various conventions. These get-togethers offer illustrated lectures and camaraderie. SPMC's nearly 2,000 members come from all walks of life, and from all states and many nations around the globe. Anyone, 12-years-old or older, of good moral character may join SPMC. Annual dues are S24 in the U.S. ($29 in Canada and Mexico, or S34 else- where). Updated information on the Society is available around-the-clock at www.spmc.org Governors: Mark Anderson. Benny Bolin, Frank Clark, G. John Ferreri, Gene Ressler, Ronald L. Horstman, Arri Jacob, Judith Murphy, Fred I.. Reed III, Robert Schreiner, Steven K. Whitfield, Wendell Wolka SOCIETY OF PAPER MONEY COLLECTORS INC. Paper Money Oth Anniversary memorative Iss 1961 - SPMC - 2001 Frank 'dent Wendel olka, Vice sident Fr . Reed III, Secr a ry AL Anderson, 'freas er Bob pelican, Past Presi nt F d L. Reed III, Edi Gene Hessler, Co 'bating F Rob Advertising Manager Spider Press Printing 0 Box 106 OEM,. M1,1 CND 2000 PAPER MONEY • January/February 2002 • Whole No. 217 23 This certifies that the Banknote Intaglio printing on the face of this document was printed in 1982 by the American Bank Note Company. Attested to by: ../A:24/74" Salvatore F. D'Amato President American Bank Note Company SPMC held a special Memphis breakfast June 15, 2001, to celebrate its 40th anniversary. The event was attended by approximately 120. In addition to the usual breakfast fare, a beefed up Tom Bain Raffle distributed nearly 200 prizes and netted Society coffers $1185. The engraved souvenir ticket was a $10 Bank of St. Johns, Florida, note engraving imprinted in red and black. The note, originally engraved by Danforth, Wright & Co., NY, sports a central vignette of a hunter felling a stag. At lower left is a Native American warrior; at bottom right, the state seal. Overprinted at center is the leg- end SPMC 40th AWARDS BREAKFAST // 25th IPMS, MEMPHIS, TN // JUNE 15, 2001, ADMIT ONE. Tickets were signed by SPMC President Frank Clark in black at lower right, and Society Treasurer Mark Anderson in green at lower left. They were also numbered in black at right center on face. The ticket back has a statement by the ABNCo President Salvatore F. D'Amato indicating the souvenir card host for this ticket was originally printed in 1982. Size: 8 x 3.75 Price: $12.00 2001 Paper Money Privately Issued Souvenir Card by Mike Bean Plate Printer Mike Bean contributed engraved and litho- graphed, black and green souvenir cards for insertion in Paper Money's 40th Anniversary Special Issue (JAN/FEB 2001). 2,400 of these were inserted in the copies produced for Society members. Additional cards were inserted in the bound vol- umes ordered by some individuals. As a special treat, Mike autographed left over examples of the souvenir card at bottom center in blue ink, 100 of which were embossed with the offi- cial, circular SPMC corporate seal and offered for sale at Society membership meetings held during the Memphis and St. Louis Paper Money Shows in 2001. The first 17 cards were embossed at bottom left over the names of Society offi- cers. When it occurred to the SPMC Secretary that the seal did not show well in that area, he embossed the remaining 83 cards at upper left over PAPER MONEY // 40th ANNIVER- SARY // COMMEMORATIVE ISSUE. This embossing reads: SOCIETY OF PAPER MONEY COLLECTORS, INC. // DISTRICT // - OF - // COLUMBIA // -- • -- // 1964 (the date of incorporation). These locations are indicat- ed by the dashed circles on the card shown at bottom left. Specimens of the commoner variety remain, and may be ordered from the Editor at the address listed on Page 2. Size: 8 x 10 Price: $10.00 (2 for $15.00) plus $2 P/H 2001 ANA Privately Issued 2001 Souvenir Reception Ticket THE SOCIETY OF PAPER MONEY COLLECTORS 40 Cennioeieinv9, 1001 — 2001 ANA '0 1 arorti ATLANTA. Geonotn AII017ST I I . :2001 SPMC was formed during the 1961 Atlanta American Numismatic Association Convention. That story was retold by several authors in the 40th Anniversary Commemorative Issue of Paper Money (TAN/FEB 2001). Fortuitously, the ANA annual summer convention was held in Atlanta again last year. In honor of the Society's 40th anniversary, SPMC Vice President Wendell Wolka and Regional Coordinator Judith Murphy hosted an informal reception for 40 Society members and guests during the ANA affair on Saturday, August 11, 2001. Refreshments included a birthday cake. Each attendee was presented an engraved souvenir reception ticket, courtesy of Society members Mike Bean, Lee Quast and John Parker. This original currency-sized, design produced by plate printer Bean featured a central $1000 counter and cartouche, and filigree border printed in black. The commemorative leg- end in burnt umber reads: THE SOCIETY OF PAPER MONEY COLLECTORS // 40th ANNIVERSARY // 1961 - 2001 at top center, and RECEPTION at lower center, flanked by ANA '01// ATLANTA, GEORGIA, and SATURDAY // AUGUST 11, 2001. Two types of souvenir cards were pro- duced, according to Quast. 300 of the small card on ivory stock were printed, 50 of which were show cancelled at the ANA. 140 of the same design were imprinted on white card stock and released uncut. 50 of these were also show can- celled. Specimens are still available from Quast at PO Box 1301, High Ridge, MO 63049. Size: 7.75 x 6 1/8 Price: $4.00 ($7.00 show cancelled) Size: 10 x 8 Price: $9.00 ($12.00 show cancelled) + 24 January/February 2002 • Whole No. 217 • PAPER MONEY Then and Now The State Bank at Camden BY WENDELL WOLKA Figure 1. The State Bank at Camden's home ca. 1912. Note the car fender at the extreme right of the view. "Ilr" INETEENTH CENTURY BANKING AS MOST OF US know, was often a perilous venture, with banks' longevity often measured in months or a few years at best. Had public opinion surveys been done in ante-bellum America, I suspect that patent medicine salesmen and bankers would have been in a close race for the distinc- tion of being the profession least trusted by the general populace! Fortunately there are occasionally examples of banks from this era which were the epitome of honesty and stability. The State Bank at Camden, New Jersey, as it turns out, was one such bank. The Bank survived, intact, for more than 177 years until it was finally absorbed into another banking combine in 1989. In addition to its own interesting history, this bank also has an intriguing connection with the first Treasurer of the United States, Michael Hillegas (See the article ''Meet the Hillegas Family" by Mark Rabinowitz on Page 3 of this issue for more details). In 1812, New Jersey had only two banks of consequence, The Trenton Banking Company and The Newark Banking Company; southern New Jersey was without any bank other than those in Philadelphia. Believing that additional banking services were necessary, in 1812 a group of Camden citizens and businessmen applied for a bank charter from the Council and General Assembly of New Jersey. The charter was granted by an act of January 28, 1812, authorizing the establishment of state banks at Camden, Trenton, Elizabeth, Newark, and Morris. The Camden bank was incorporat- ed on February 3, 1812, as The State Bank at Camden. This bank opened for business on June 16, 1812, with a capital of $800,000, half of which was reserved for the state. The state's option to purchase $400,000 in stock was sold to private individuals in 1813, with half of the amount being retained by the bank itself and never issued. William Rossell served as President and Richard M. Cooper served as Cashier. On Nov. 9, 1813, Mr. Cooper became President, a post that he held until 1842. Cooper's replacement as Cashier was William Hillegas, a grand- son of the famous Michael Hillegas (again, see Mark Rabinowitz's article for more details). Hillegas served as the bank's Cashier for nearly 14 years. In 1813, the bank established an agency across the Delaware River in Philadelphia as a means of expanding the bank's business and circulation. At the time the agency was established, there were only six banks in Philadelphia. In 1822, the Directors of the bank determined that $600,000 in capital was more than was required and, in due course, reduced the capitalization to $300,000. In March, 1838, this was reduced further to $260,000 at which it No. tt Dm°tun, That ater/d T-4 entitled to 6 -a share/in the State Bank at Camden, transferable o y at the said Bank by the said (/"A (ez-2.--/ . • • personally, dr by /co attorn,/ attilltaig the Seal of the President, Directors andCrpany of the State Bank at Camden, the d. day of ,*-2..-cZ tat/. . ,aj// /if — 11. ,w7/7=7-President. #*A, Cashier. ,( (OL o Bourse & Exhibition `‹ Public Invited Free Admission The "Biggest" little coin and paper money show in New England 70 TABLES 7029th Annual Show 1,,korri is _ TABLES 7 Prospect P rProspect eSctt sreet , Sact hool Gyomfnasiumih St. u m 233 Willimantic, Conn. Sun., March 10, 2002 - TABLES 9 a.m. - 4 p.m. TABLES 4 PAPER MONEY • January/February 2002 • Whole No. 217 25 remained for the rest of the bank's state-chartered existence. In 1829, the Legislature extended the bank's charter for 20 years or until February, 1852, and again in January, 1849, for another 20 years or until 1872. As a testament to its success and stability, the bank paid its shareholders a dividend throughout its existence, from 1812 onward. During the period it operat- ed as a state-chartered institution, the bank issued a wide variety of notes made up of $1, $3, $5, $10, S20, $50, $100, $500, and $1,000 denominations. With the excep- tion of one type of $3 and its coun- terfeits, all notes from this bank are extremely scarce or rare, with some only known as part of a spe- cial book that the bank kept right up until 1996. The bank continued successfully on through the outbreak of the Civil War, loaning the Federal government $100,000 to support the war effort. When the Federal government established National Banks in 1863, the way Figure 2. An early stock certificate of the bank signed by William Hillegas as Cashier. Look This is the Place for COIN & PAPER MONEY COLLECTORS in the Northeast to get a jump on the Convention Season. Join us again this year for the largest gathering of Coin & Paper Money Dealers and Collectors in the New York/ New England Area. Bourse info C. John Ferreri (860) 429-6970, (860) 429 0043 Fax Visit our new and larger venue . IE _,...----- .8.: / i Xi/ Ae' / I N t/ Ma ,/,/, („) of thetattifibiTft ; - //Fr /AT EWE -DOLLARS 00./ -/ ‘11111tWIT near LKEritlysy (/7////(4/ _ZA2 NY/ Cashier.sident. . day of 26 January/February 2002 • Whole No. 217 • PAPER MONEY Figure 3. A counterfeit $5 purporting to be on the State Bank at Camden. Compare the fraudulent Hillegas sig- nature on this bogus note to the gen- uine signature on the stock certificate. Figure 4. William Hillegas' signature detail from the stock certificate. was opened for the next chapter in this 51-year old bank's history to be writ- ten. On May 9, 1865, the shareholders, in a special meeting, authorized the reorganization of the bank as a National Bank and the application for a National Bank charter. On June 2, 1865, the bank received the Comptroller of the Currency's certificate of authority to commence business as a National Bank. The name chosen was The National State Bank of Camden, Charter #1209. In 1922, the bank absorbed the First National Bank of Camden, with a change in title to the First National State Bank of Camden. In 1927, the bank absorbed the Camden National Bank with another change in title to the First- Camden National Bank & Trust Company. Finally in 1934, the bank absorbed the First National Bank of Haddon Heights, New Jersey. The bank remained in business at the corner of Broadway and Cooper Streets in Camden until June 30, 1989, when it closed and merged with the MidAtlantic National Bank which, in turn, merged with the PNC Bank, National Association on September 8, 1996. This is where articles such as these usually end, but in this case there's an interesting twist that I would like to relate. The bank's most recent merger with the PNC Bank, National Association in 1996, through a strange set of circumstances, allowed the collecting community an opportunity to literally save the bank's entire documentary history from the landfill. Apparently orders came down to "clean out" the old bank building and get rid of all of the "trash and clutter" which had taken 177 years to accumulate. A contractor who had been hired to do the job had a sense that this kind of history shouldn't end up in the dumpster and contacted a friend who was a collectibles dealer. The dealer saved a small truckload of material from sure destruction including things like: • Oil paintings of the Bank's Presidents back to 1812 • Thousands of old checks, mortgages and other bank documents ,/,(.—; Z,'''' B Ed. Pee. II, 1923 •f•.'/Cd.& 1209 CERTIFICATE APPROVING INCREASE OF CAPITAL STOCK d/reasurg Rettartment OFFICE OF THE .11 2 • COMPTROLLER OF THE CURRENCY /de? / • 4 r'7<: • (1. .4, D e% C. ,•;-; 2 (-1 PAPER MONEY • January/February 2002 • Whole No. 217 27 • Board of Directors Meeting Minutes for most of the banks existence since 1812 • The banks Federal National Bank Charter • Photographs • Stock Certificates • Ledger Books Through a chance meeting via the Internet and later another meeting in person, I was able to obtain some of the bank's more important historical memorabilia including two of its ledger books. One contained the serial num- ber data for notes issued in the 1840s and was quite interesting. But the real gem was another ledger that not only contained similar data for later years but also had genuine examples of each type of note that the bank had issued tipped into the pages! Apparently these notes were used as references when redeeming notes which were presented for payment. A number of these are designs unknown to either George Wait or James Haxby, whose catalogs are considered the stan- dard references for the state of New Jersey. What's happened to the rest of the material? Well, that's one of those mysteries that create "lost treasures." I know that one other bank note, a very rare $500 issue, was later sold to a private col- lector. But the trail has grown cold. I'm not even sure of the dealer's name anymore, although it's probably on a canceled check somewhere in storage. What's become of the bank's federal charter certificate? . . .the oil paint- ings? . . .National Bank era ledger books? . . .Boxes of correspondence? Well, if you're ever in the Philadelphia / Camden area and have a chance to hit any of the local flea markets, keep your eyes open. You might be in for a BIG sur- prise! Figure 5. This is a small selection of the bank's documents that were saved from destruction. 28 January/February 2002 • Whole No. 217 • PAPER MONEY Following the Paper Trail Down the Byways of Scripophily BY DAVID H. GELWICKS Scrip* (skrip) n A small piece of paper, especially one with writing... Hobby* (hob'e) n An occupation, activity, or interest, as coin-collecting or gardening, engaged in primarily for pleasure: a pastime... I HAVE COME TO REALIZE THAT MY INTEREST IN HISTORI- cal paper documents of the mining industry which dominated the north- ern peninsula of Michigan in the mid 19th century is a 20-year hobby of collecting scrip. My interest includes all forms of paper money and fiscal documents. Learning about these items can lead one down limitless roads as one begins to trace the origins of the various scrip. Figure 1: Quincy Mining Company No. 7 shaft-rockhouse in 1904. This paper details one document trail, which started with my interest in knowing more about the experiences, legacies and personnel of the Quincy Mining Company, whose infamous Shaft #7 (Figure 1) I watched each day as a metallurgical engineering student at Michigan Technological University. The skeletal remains of this once booming copper mining company are located on the hills of the northern side of the Portage Lake Canal in Hancock, MI, across from the Michigan Tech campus. The Michigan College of Mines, now called Michigan Tech, was located in this area to educate min- ing engineers to serve the growing mining industries in Michigan's copper and iron districts. My first scrip purchases connected to the Quincy Mine were various The American Heritage Dictionary of the English Language, William Morris [ed.], Boston: Houghton Mifflin (1982). PUBLIC AUCTION SALE AMERICANA COLONIAL AND FEDERAL COINS, MEDALS AND CURRENCY (mooring Colin from the 11.0.M.S. FEVERSHAM and LE CHAMEAll Shimemeho Seim-nano from the Collection of Monroe Seiner figek i JANUARY 12, 13, 1999 113 WEST lath MIMI: NEW YORK, N.Y. 1001942HO MWEST MISTREET, NEW VOi., tool,nia PUBLIC AucTiorisALE ArvIIIEIRECANA, COLONIAL AND IFIEDIERLII, IN M,EDAILS ANUCURRENCY .1o• .1r! festarki 071Disa Je6elerk'l Larry Stack Harvey Stack STACK'S NUMISMATISTS Auctions — Appraisals — Retail SINCE 1935 PAPER MONEY • January/February 2002 • Whole No. 217 29 America's OLDEST COIN Auction House Is Also America's OLDEST CURRENCY Auction House When you think of selling, you must think of Consignments are now being accepted for our upcoming Fall and Winter Auction Schedule including Stack's Renowned Americana Sale in January 2002 Contact Harvey or Lawrence Stack for consignment information. 1999 AMERICANA SALE Numismatic Literary Guild Best Catalog Award 1999 2000 AMERICANA SALE Numismatic Literary Guild Best Catalog Award 2000 2001 AMERICANA SALE Prices Realized nearly $4.5 Million, including $850,000 in banknotes. 123 West 57th Street New York, NY 10019 ® Telephone (212) 582-2580 FAX: (212) 245-5018 e-mail: info@stacks.com Visit our Web site at www.stacks.com Torn Panichella it' ne ,p0 n 09. \Li rICAPTY DADIAit It y//%/' 7 /4 (wr • I r',./7 • /41; I 7/ • .7/ , 17 , .//,////:2%, • h,;/„Iftie'i, 1 02' Mate t- 30! (( """41 9,,z //. 7 ,-_,h7;(i 7 a(0 .r,? iwkl..,_.,...y glememriv;))) ) , 4,,,,,e.iii(C, /2 /.4_,-...vi,,,,,,,"), „qv/ 6,,,,,,,;-,,,,7 , /4144 xl„,,/,,,, 6 / " 7.?y,,,,, ,., .),,,,,,,,..4 ,k, ,,, ,,,,77, ,;>, , freei ,7,. - -x, .,-.-̀:' /.f .7 ay' U i6veg/ w/iir (44.relte .' (77.&"//117 OW/VW/7,17/1 4-:,.•11/70/17471//0".1 ..,,,Y7//1/1/...441L/ 6,14( izY/ • mele reit.e/C7 eih,<,.(...ve" /4//w.,1,/,c),.. #.1a1453 .4./l/g//.1,h,(14‘ 'L4-2' 161/ el/ /IL-2 IfY•eselice of 30 January/February 2002 • Whole No. 217 • PAPER MONEY Figure 2: Twenty dollar pay check from Quincy Mining Co. to J.M. Foster dated April 23, 1869. Figure 3: Quincy Mining Company stock certificate to Ariel Ballou for fifty shares, dated April 23, 1859. types of checks (Figure 2), which were paid to the miners for their services. These purchases heightened my interest. My search had just begun, and I yearned for more documents. The next piece of this widening scrip puzzle was my first Quincy Mining Company Stock Certificate (Figure 3). Shortly thereafter, I came across what seemed to a neophyte collector as a "hoard" of documents, which were invoic- es to the mine for various industrial parts needed for operating the mine. One of these (Figure 4) took me down another trail which led me off to those endless boundaries described above. A close look at the invoices suggest- ed additional interesting byways for my investigation. One lists candles. Candles for a mine? Think about it! The modern day lamps and batteries we take for granted were not available. The company was the Emery Candle SERVICES: • Portfolio Development • Major Show Coverage Ci Auction Attendance SERVICES: O Portfolio Development • Major Show Coverage • Auction Attendance 444.4:44414.44$ 4 1auut ft.sz - T2111_10410,2 " ___VattWo_ •,- Your Hometown Currency Headquarters $$ Top prices paid for ALL National Bank Notes We have thousands of Nationals for sale Visit us at our website williamyoungerman.corn or e-mail us at wymoney@aol.com Call 1-800-327-5010 for a Free Catalog or write $$ 1.44.2 f: PAPER MONEY • January/February 2002 • Whole No. 217 31 EARLY AMERICAN NUMISMATICS • 619-273-3566 We maintain the LARGEST ACTIVE INVENTORY IN THE WORLD! COLONIAL & CONTINENTAL CURRENCY SEND US YOUR WANT LISTS. FREE PRICE LISTS AVAILABLE. EARLY AMERICAN NUMISMATICS c/o Dana Linett P.O. Box 2442 • LaJolla, CA 92038 619-273-3566 Members: Life ANA, CSNA, EAC, SPMC, FUN ANACS William Youngerman, Inc. Rare Coins & Currency "Since 1967" P.O. Box 177, Boca Raton, FL 33429-0177 Member: PNG, PCDA, ANA, SPMC and others L r HISTORY ____ In 1990, Candle-lite will celebrate 150 years as a leader in the candle making industry. Our company was formed in 1840 by Thomas Emery, an English settler who sold candles and numerous other household items door to door in the Cincinnati area. The business con- tinued to grow and eventually one of Emery's sons, Thomas Jr., along with his wife Mary, expanded the candle manu- facturing facilities to Mariemont. The company was known then as "The Emery Candle Division of Emery Indust- ries." The Emery's maintained control of the business until 1952 when Al Levinson purchased it, changed the name to Candle- lite, Incorporated, and moved the entire operation to Leesburg, Ohio. The original facilities have undergone numerous expansions including the addi- tion in 1984 of over 130,000 square feet of manufacturing and warehouse area. As one of the countries oldest, largest, and most modern candle companies, Candle-lite has the latest in sophisticated, state of the art equipment, including robotics and microprocessors. Today, we share national recognition through such customers as K-Mart, Walmart, Target, Avon, and Krogers. Our capacity to pro- duce high quality, value priced products makes us very proud of our heritage and confident about our future. Figure 5: A brochure at the Cincinnati Historical Society provided background on the Emery Candle Company. 32 January/February 2002 • Whole No. 217 • PAPER MONEY Figure 4: Invoice from the Emery Candle Co. to the Quincy Mining Company, dated Sept. 1, 1896. The mining company purchased 4,000 can- dles for $240.70. 1%17,72 fe,, ey . - 7hs.d., fie).,,,y3'. liwa,,,, COV,.. r .;•• 70:,- Se,.. /.,•'::aet'v/- 4.,/,, a SEP 1 1896 .7%!,,,,,201„{-4--1 ,y2„ze, T.-- ,, ,...--, • ? '77-7---- (--- ..-----/ "" .., N fir' ,C/7/{.. -C4172-C-C -.... - ."--- ,/1•:.' : C.' gldi2 ice/ rle":477 -c.draCkir.e.417:* '-,9.:1?. ,iy :.*zz/Is am nalualtonztti tomilat Salem:it muM he made 4,7 eirap wiz:nu:11mm / 0 0 "D x Y ,-z % 0 0 aaftlz., ?Zit ; .z.zz,,,-- ( ez,z, :,- etms ,'" Z: , V 7-- 5.4 4 ..t. 174 ' Z,__.,/,_ee-r, a ''5- ,.7. 2,... 0 / "-- ✓)( ____ c. 77: 7 ,,.• , 71 ,..,: F.'- W ,;:: 1111, lity, LA::Lf. Company of Cincinnati, OH. Having grown up in Cincinnati, this detail sparked an interest. Examining these documents further, my interests were piqued by the details: "Factory: Ivorydale, Ohio, C.H.&D.R.R." From my Cincinnati back- ground, I knew of Ivorydale from the Proctor & Gamble soap product named Ivory. The 60-day terms or 2% discount for cash in 1896 are not much differ- ent from merchandise terms found 100 years later. But what were those other initials? Off I went on another trail. I pursued the Emery Candle Company of Ivorydale, OH, through a letter to my aunt (Mrs. Thomas Huheey) who was employed at the Ivorydale Plant of Proctor & Gamble for many years. I want- ed to see what she knew of this company. My aunt went to the Cincinnati Historical Society, where she located two brochures and a 1909 article titled, ''The Emery Estate: A Commercialized Philanthropy" by Walter H. Maxwell. The article described the Emery family and their philanthropy in the Cincinnati area. One item, which caught my attention, was a $100,000 dona- tion by TJ. Emery, Jr.'s widow to the Cincinnati Art Museum following his 1906 death. This endowment was to fund free Saturday admissions to the art museum forever! The brochures (Figure 5) gave background on the company. They told how entrepreneur T.J. Emery, Jr. founded his business producing tallow can- dles and lard oil for lamps to capitalize on the cheap byproducts of the German-based Cincinnati meat packing industry. His work led to the produc- tion of a dripless candle that was perfect for the miners doing their daily jobs. More research led me to the meaning of C.H.&D.R.R. I found that these were initials for the Cincinnati, Hamilton & Dayton Rail Road Company. I had now not only located the company who made and sold these candles to the Quincy Mining Company over 100 years ago, I had also found the railroad carrier that delivered the purchases! These revelations only spurred me on further. Eventually I found Sight Drafts (Figure 6), which paid various organiza- tions for their services to the C.H.&D.R.R. The details on these sight drafts could take one down many additional trails. Some collectors save these docu- -Littleton Coin Company City/State/Zip Dept. BFS005 Daytime Phone 1309 Mt. Eustis Road Littleton, N.H. 03561-3735 coinbuy@littletoncoin.corn Best time to call L PAPER MONEY • January/February 2002 • Whole No. 217 33 Last Year Alone... 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Why You Should Consider Selling to Littleton • Highly competitive buy prices • Fair appraisals and offers • Fast confirmation and settlement • Finders fees and joint arrangements • Over 50 years experience buying and selling coins and paper money • We welcome the opportunity to purchase your paper money David Sundman, President ANA Life Member #4463; PNG #510; Society of Paper Money Collectors LM#163• Member, Professional Currency Dealers Association Jim Reardon (left) and Butch Caswell, two of Littleton's experienced team of buyers. We welcome the chance to consider your notes! Buyer Phone: (603) 444-1020 Toll Free: (800) 581-2646 Fax: (603) 444-3501 or Toll Free Fax: (877) 850-3540 Teletype: Facts D97 CoinNet NHO7 coinbuy@littletoncoin.com Dun & Bradstreet #01-892-9653 Over 50 Years of Friendly Service to Collectors! ©2000 LCC. r Y tS! I'm interested in selling paper money to Littleton. Please contact me regarding my collection or holdings. Fill out this coupon and Fax Toll Free to (877) 850-3540, or Mail to: Address Name 34 January/February 2002 • Whole No. 217 • PAPER MONEY Figure 6: Cincinnati, Hamilton & Dayton Rail Road sight draft for $9,665.49, dated April 30, 1900. 0 t' A.....A.....,..fra'-.f_..5 _.; 1..7 DOLLARS Itx.S. /fd ./. 189 ....... ___.... A-0Eter 1 1 f., ln14 0- PI .., (..i Z . \...v . • ON • To .: No. $ S. -_—___. 0:13 ._ CINCINNATI, HAMILTON & DAYTON OFFICE OREIGHT AGENT. V , i " /_ ....... - 0/ Station, ./ lat.`, AT HT PA TO THE 0° DERSIG otirt. . . • ....! eq' .,-......, • ,, :7" _ • OF SETTLEMENT ADVANCES /,'.41'?4- WEEK ENDING .....e4'L.7.7 CHARGE SAME TO MY ACCOUNT:" -.,... F. HI. 6I.C.RIC. TrAecraoAt.A.EstAx., CINCINNATI, HAMILTON & DAYTON R'Y CO CINCINNATI. °aro. ._.) ments for their revenue stamps. Others study signatures and dates. Another byway which does interest me is that these started me thinking about the numbers located in the lower left-hand corner of the drafts. I have acquired these sight drafts from three individuals. Who has the numbers I am missing? How many of the missing numbered documents have been destroyed or discarded over the years? How many agents at how many stations covered this railroad? There are four stations represented in the drafts I acquired. My drafts are variously dated and show differing types of payments. My present collecting trail on this subject ends with a C.H.&D.R.R. Guaranteed Trust Certificate (Figure 7). This document alone could add years to my collecting journey studying the history of these documents. Combined with some research and luck, who knows where the next leg of this journey will lead? BIBLIOGRAPHY Lankton, L. and Hyde, Charles K. Old Reliable, an Illustrated History of the Quincy Mining Company. Franklin, MI: Four Corners Press (1982). Morris, William [ed.]. The American Heritage Dictionary of the English Language. Boston: Houghton Mifflin (1982). Figure 7: C. H. & D.R. R. Guaranteed Trust Certificate for 38 shares to George Eustis & Co., dated December 4, 1884. - - ,....,; i J •-•,-2.-,_%). - ei • -2?*7- 4/4 _ t z. _ 1 _,,,,, te. .,!..-7-,%;•./.4-elgr,'!.(44,e-efe.4,7 4,4:444`,/,/ :::....i/e, ,,, ,/17, 'zikadaweA, .?,4,,,,,,,./(4,;) ./z4; j:,::/,;;,/ ----=';.--'; , CINGINNAEMILMEIN4INSAIIAVVINAIWItAMBOAD6COAWANI; - 4.%€-4ef,e8,,41 er4rea*,e..ez.yr,:et34e?,WI 7,1A-Z5,1 /Wei/Celle/4r 2144.;,•//,-...ireidir ,e/4-41-44.1.4:067..trawe er„,:c.ta7b7...„ Ay./4:7a::„Azviiii;.4,.., 4v/...,fr/ iree;".144;:,4;(--,;ei-zfrAlie.44,4-ife7;7'...frwrer,,,,e2r% tf;44r'i/usfoy-w.,;-, i'...,; ;;4eW4.4.4k.4744,e, e,/e;//ci ,- .14..eilt,4(57.4&//,-/t;i4zer, I 0 e.(7///,,4 a; -4.744/4t-kZi (90ii.4,745e'weetr dZieVit? 6.7,44' ,,,, .rf'ee a/4/W A,"eviAre,Yey/744) ' ("iirr/e/4,,,i62,(/';‘)vdw.....4-6(4-m":6//j/eav7,1. .(e-i/r/A7A<",;41.4:,(7.., r r-31t illitniss 'illbrituf ..143-;/.4-,aiieeenr..4.240(1,auei era4A4-7/1;!-4.wey/a4,444,..Ava,ya , Checks, Checks, Checks! Add to your check collection Acquire collateral material for your National collection Revenue Stamps 86 Imprints Thousands of Checks 774- _ tiritomTnuoi7--(ect _ ( oy-kjaottkilotfaitko ;,./ ./r---r teA- e.- ' --, 4,,,,,, -------.-_,,,,. • c e - — ' ' 04) Kliv FLA, ' .. .ur, ''' r 6/ -, - - Exonumia and Bank History Books Now Selling on Ebay! Ebay Seller ID: opme@teleport.com We still service want lists OREGON PAPER MONEY EXCHANGE 6802 SW 33RD Pl. Portland, OR 97219 503-245-3659 Fax 503-244-2977 Email: opme@teleport.com WORLD PAPER MONEY specialized in Poland, Russia & E.Europe ATS notes Free Price List www.atsnotes.com atsgatsnotes.com Torn Sluszkiewicz P.O.Box 54521, Middlegate Postal BURNABY, B.C., CANADA, V5E 4J6 Nobody pays more than Huntoon for ARIZONA & WYOMING state and territorial Nationals a-Ur., aSt.l......141.2.4161471.1.11, 11111,14.•11 Peter Huntoon P.O. Box 60850 Boulder City, NV 89006 702-294-4143 MACERATED MONEY Wanted information on U.S. Chopped up Money. Who made the items, where sold, and anything of interest. Also I am a buyer of these items. Top Prices paid. Bertram M. Cohen, 169 Marlborough St., Boston, MA 02116-1830 (617) 247-4754 E-mail: Marblebert@aolcom STOCKS & BONDS MONTHLY MAIL BID SALES RR's, Mining, Banking, etc. etc. Something For Everyone FREE LISTING RICHARD T. HOOBER, JR. P.O. Box 7917, North Port, FL 34287 Phone or Fax (941) 426-2620 r PAPER MONEY • January/February 2002 • Whole No. 217 35 36 January/February 2002 • Whole No. 217 • PAPER MONEY Counterfeits & Canceled Subjects Introduction HEN PARTICULARLY TROUBLESOME COUN- terfeit Original Series or Series of 1875 National Bank Notes were discovered, one way to deal with them was to cease issuing good notes, and retire those in circulation. This left the field to the counterfeits making them easier to spot with the aid of published counterfeit detectors, thus diminish- ing- the damage they could do. t THE PAPER COLUMN by Peter Huntoon There were two ways that future printings from the plate with the counterfeited subjects were handled. The first proce- dure used during 1874 and 1875, was to make part-plate printings from the affected plate, wherein the undesired sub- ject was masked and thus omitted. Such printings were carried out by the American Bank Note Company. The second pro- cedure, implemented with the introduction of the Series of 1875, was to print the full sheets, and then cut the unwanted subject from the sheets. The Series of 1875 printings were undertaken by the Bureau of Engraving and Printing. Part-Plate Printings The Secretary of the Treasury ordered the general sus- pension of $10 National Bank Note printings on July 31, 1873, because the $10 note was the most widely counterfeited denomination. As a result, part-plate printings were undertak- en for all orders executed between October 14, 1873, and June 29, 1874, wherein the $10 subjects from the 10-10-10-20 and 10-10-20-50 and 10-50-50-100 combinations were omitted. An assessment of the threat of counterfeit $10s revealed that the easiest way to deal with them was to retire the $10s for banks for which successful counterfeits existed, not by replacing the entire series. Furthermore, Congress stream- lined the redemption process in an amendment to the National Bank Act passed on June 30, 1874. This got badly worn notes out of circulation, making it more difficult for counterfeits to circulate. The pressure was off the $10s, so normal production of them followed. See Huntoon (1995, Chapters 6 and 9) for a complete discussion of this complex issue. Although production of $10s resumed, the idea of using part-plate printings to isolate counterfeits was seeded. Consequently, part-plate printings were used between 1874 and 1875, to isolate specific counterfeits for three banks: $10s from the 10-10-10-20 plate for Syracuse, New York (1341), SlOs from the 10-10-20-50 plate for New York, New York (29), and $100s from the 50-100 for New York, New York (376). The part-plate printings were labor intensive. Part-plate printing required masking the unwanted subjects on the plate so they would not appear on the printed sheets. Entirely new treasury sheet serial number sets were assigned to each of the newly created part-plate sheet combinations that resulted. This further complicated the printing process, and required additional accounting as well. Central National Bank of New York $100s The steps taken to thwart dangerous counterfeits of Original Series $100s on The Central National Bank of the City of New York (376), set all precedents involved with iso- lating specific counterfeits between 1874 and 1885. The con- cept was uniform: Don't issue the counterfeited denomina- tion. How the printings and inventories were handled evolved over time, and varied depending on who was printing the notes. The immediate solution in the Central National case was to cut the $100s from the sheets remaining in the Comptroller's inventory, and not issue them. Next, part-plate printings of the $50 subject were made by the American Bank Note Company, and these finished out the Original Series issues. Later, after the Bureau of Engraving and Printing took over printing National Bank Note faces, Bureau personnel modified the 50-100 plate into a Series of 1875, and printed Bill sheets from it. Those were delivered to the Comptroller of the Currency's office where the $100s were once again cut from the sheets. Apparently the fake Central National $100s were first detected between April 3 and September 10, 1874, because the Comptroller of the Currency suspended issuances of $100s to the bank after the April 3 shipment but before the next ship- ment on September 10. At the time, 300 50-100 Original Series sheets remained in the Comptroller's inventory, specifi- cally bank serials 8671-8970. The $100s were cut from these, and the 50s were sent to the bank September 10. The $100s were ultimately destroyed on March 8, 1876. Four Original Series $50 part-plate printings followed involving 2,700 $50s beginning on September 11, 1874. Bank serial numbering was consecutive from the previous 50-100 sheets, so 8971 through 11670 were used on these printings. The resulting single-subject $50 sheets were assigned a unique treasury serial number set beginning with A22. The Central National Bank was the only bank in the country to use the combination, so the set ended with treasury serial A2721 with the final July 21, 1875, printing for the bank. Three thousand Series of 1875 50-100 sheets were print- ed by the Bureau of Engraving and Printing for the bank in 1876. The $100s from these were cut from the sheets by the Comptroller's clerks and omitted from shipments to the bank made between July 15, 1876, and August 26, 1876. The unis- sued Series of 1875 $100s were destroyed on February 19, 1879. Canceled Subjects The labor intensive procedure of part-plate printings was abandoned with the close of the Original Series. This got rid of the extra press requirements, special treasury serial numbers sets, and separate ledgers sheets. Instead, all subjects on the plates were printed when the Bureau of Engraving and Printing; assumed the production of National Bank Note faces SOVEREIGN" YLAR SLEEVES & ENVELOPES Sovereign - Currency Storage - Just one of the categories in the Archivalware Catalog. 40 full color pages of Archival Collectibles Storage and Exhibition tools for serious collectors products. Send for your free copy & receive sam ples of our 4 mil Mylar Currency Envelopes. Request your free Catalog Tel: 1.800.628.1912 Fax: 1.800.532.9281 E-mail: info@universityproducts.com We are proud to continue the numismatic legacy begun in 1933 Specializing in Quality and Rare U.S. Currency U.S. Large Size Fractionals U.S. Small Size Nationals National Gold Bank Notes Kagin's -- an established name for conservative grading of quality notes. We specialize in building U.S. currency collections of premium quality and rare notes. Favorable terms to suit your individual needs. 98 Main Street #201 Tiburon, CA 94920 1-888-8KAGINS www.kagins.com Call Judy PAPER MONEY • January/February 2002 • Whole No. 217 37 J&F Rubenstein Buying and Selling the Finest U.S Currency Uncut Sheets Nationals - Large and Small Type Notes Fancy Serial Numbers Error Notes Auction Representation Consignments Accepted Actively Buying Collections Want Lists Serviced See us at all the major shows Members PCDA, FUN, ANA, ANS P.O. Box 960386 Miami, FL 33296-0386 Telephone: (305) 388-7187 Fax: (305) 383-8422 E-mail: Miagold@aol.com firm .4150 , 50.s ,.150; OM* 'SEX japatt 1191,114 . • . Thts•Noiq s =:; -It- Bonds, Dr tap 0 .nt WrniTttlir.S.TREASElitintAtii0140_1140v ?,4 .111111/.• ,7//, 0ZilE114tAVVII1(1-14' "'4)13:"t 1 t •■/,/ 1°, 4:d ! hit:J.)10e ar-1, ;e tiont):,vok 1'1,1) 4:T:ATRS%. DepQwed:wii u .s.Treasnreralwitothigyw. /44 , 4, , ',17/7/;')//y/. \NI "4 I1 177.01VAIL.B.A-N.K- OF 11.7/ //;,,./ 013.1.—EC.C:111W 38 January/February 2002 • Whole No. 217 • PAPER MONEY and instituted the Series of 1875. The sheets were then logged through the system using the existing treasury serial number set for the full plate combi- nation. Finally the undesired subjects were cut off when it came time to issue the sheets. Bank sheet serial numbering on the issued subjects continued uninterrupted as with the part- plate printings by the American Bank Note Company for the Original Series. The only applications made of this new procedure involved isolating $100 counterfeits for New York, New York (376), New Bedford, Massachusetts (799), Pittsburgh, Pennsylvania (668), and Baltimore, Maryland (1109). The New Bedford and Pittsburgh cases are special in that the for- mal step was taken to physically cancel the $100 subjects on the Series of 1875 plates before additional sheets were printed from them. No canceled proofs are known for New York or Baltimore. Canceling the plates was really an unnecessary for- mality because the Comptroller's clerks knew which $100s not to issue. There is, of course, the possibility that the $100s for New York and Baltimore were formally canceled, and the proofs were either not made or subsequently lost. The three cases that followed the Central National Bank resulted from one basic counterfeit $100 wherein the bank title was changed (Cochran, undated). The first counterfeit from this dangerous plate appears to have been produced for The National Revere Bank of Boston (1295) in the Original Series, yet, ironically, both Original Series and Series of 1875 $100s continued to be issued by that bank. The counterfeit New Bedford and Baltimore notes simulated the Original Series; the Pittsburgh simulated the Series of 1875. The three cases are treated in turn, with the order predicated by the sequence in which the counterfeits appeared in circulation. Canceled New Bedford (799) $100 A 50-100 Series of 1875 proof with a canceled $100 sub- ject for The Merchants National Bank of New Bedford, Massachusetts (799) was discovered as we were sorting the cer- tified proofs in October, 2000. The cancellation of the New Bedford $100 resulted from circulation of dangerous counter- feits that reared their ugly heads some time in the three-week interval between April 30 and May 21, 1878. The last sheet of the 50-100 combination sent to the bank was an Original Series with bank serial 2699, on April 30, 1878. Only one 50-100 Original Series sheet remained in the Comptroller's inventory, and it carried bank serial 2700. Series of 1875 50-100 sheets 1 through 167 had been received from the Bureau on September 13, 1877, so these were in the Comptroller's inventory as well. The Comptroller sent 100 $50 notes to the bank on May 21, 1878, including Original Series serial 2700 and Series of Part-plate printings of $50 notes from the Original Series 50-100 plate for The Central National Bank of the City of New York (376), were made during 1874 and 1875, in order to isolate danger- ous $100 counter- feits in circulation. The $100 subjects were simply cut from the Series of 1875 sheets and not issued to the bank. This is a Series of 1875 proof. 44,-tVi4vrho' ,1 t4j a -- AT 4 .,(( 4A-r- eltiqNott• tionoctot r t AryfrE1) t Oepwsfita4lUmikokeU.S.TreasjireratWaslitipi ion. 40-;v' -y,/ Nat oral ilanic or • h Y. oStfur gietilat4 r• J.J.5:"). 44,28-7-7T2r-1 <X.; 9 4614,49.1., #0,4,tie a„4.4./ lEr.S.TRFASURIKRATWASIIING PAPER MONEY • January/February 2002 • Whole No. 217 39 1875 serials 1 to 99. The ledger entry for the delivery clearly states that the $50s were cut from sheets. On May 24, 1878, Acting Comptroller S. Langsworthy sent the following order to Chief E. McPherson of the Bureau of Engraving and Printing (Bureau of Engraving and Printing, various dates): Please cancel the one hundred dollar portion of the plate 50-100 for The Merchants National Bank of New Bedford Mass charter 799. After the cancellation has been completed, print from the plate 1500 impressions. These 1500 sheets, the first with the canceled $100 and bear- ing serials 168 through 1667, were received by the Comptroller's office on July 19, 1878, and added to the remaining inventory. The last $50 Series of 1875 shipment to the hank occurred on December 23, 1884. The highest serial issued was 5565. Notations in the ledgers state that the $50s contin- ued to be cut from 50-100 sheets. Canceled Pittsburgh (668) $100 Doug Walcutt (1997) discovered and illustrated the first observed canceled subject on a proof. It was the $100 on the 50-100 Series of 1875 plate for The Pittsburgh National Bank of Commerce (668). The cancellation was far more elegant than that on the New Bedford, complete with the word CAN- CELED boldly spread across the subject. The last normal 50- The $100 subject on the 50-100 Series of 1875 plate for The Merchants National Bank of New Bedford (799), was cancelled in 1878, and those subjects were cut from the printed sheets before the $50s were shipped to the bank. This was done in order to iso- late successful counterfeits in circulation. 100 Series of 1875 sheets were sent to the bank on September 27, 1878, with the high serial being 282. At that time, 50-100 sheets 283 through 434 remained in the Comptroller's inven- tory. Shipments of $50s to the bank resumed on March 23, 1881, with serial 283. The first printing from the plate with the canceled $100 was received by the Comptroller's office on April 28, 1881, and contained serials 435 through 1454. The last shipment to the bank was on October 14, 1884, and contained high serial 2429. The bank ledger clearly indicates that the $50s with serials 283 through 2429 were cut from sheets. Baltimore (1109) $100 A similar scenario played out for the $100 Series of 1875 issues for The Exchange National Bank of Baltimore (1109). The last printing of 50-100 sheets for the bank before the decision was made to stop issuing $100s was received by the Comptroller's office on August 16, 1879, and consisted of bank serials 668 to 801. Sheet 712 was the last full sheet sent to the bank later that fall. After that, all the $100s were cut from the remaining sheets on hand and those received from the Bureau thereafter. -114rf' --:ti r. \.r,; u1,414tu, B41, if y axua., ,,,,...;, . 0 i tiNtitr j...;; 0.1,-.....c.;_u. ii. cono,,.... 0., T._ UNIT . I S'E)) I' 04- DepositedyattaiteU.S.,freasorecat'Washingtom. .._.. , ji-V1-31311-114-A11 ,/alio ,.., .• Nal 117141 1.144.40C.01( latitl.4 ir-','-k='14.13N,,,/a — - — - 7,10:7 TIIIISNOM ajr."1441-1.$4- llonebtoir- Inc tir.s.TnntsunFat ATWAsnim h,/1) '11144(70 /1, I 4///g2 r 1 ,,,h, -3. ""`".0 'oifr,..p .4t ' \17.- t • • .44 /07 40 January/February 2002 • Whole No. 217 • PAPER MONEY The first printing following the decision included bank serials 802 through 868, which was received by the Comptroller's office on December 19, 1879. Ultimately the bank issued 2469 $50s in the Series of 1875, but only 712 $100s. Conclusion Rather than make part-plate printings from the $50 sub- ject, it was simpler both in printing and in bookkeeping to print the full sheets and cut off the $100 note before shipping the S50s to the bank. This remedy was used between 1878 and 1885, to eliminate $100 Series of 1875 notes from the cir- culations of four banks where the $100 bad been successfully counterfeited: (1) The Central National Bank of the City of New York, NY (2) The Merchants National Bank of New Bedford, MA (3) The Pittsburgh National Bank of Commerce, PA (4) The Exchange National Bank of Baltimore, MD The $100 subjects on the Series of 1875 plates were for- mally canceled by engraving an X through them in the New Bedford and Pittsburgh cases before additional sheets were printed from the plates. ACKNOWLEDGMENT The research leading to this article was partially support- ed by the National Numismatic Collections, National Museum of American History, Smithsonian Institution, Washington, DC. The assistance of James Hughes, Museum Specialist, is gratefully acknowledged. REFERENCES CITED AND SOURCES OF DATA Bureau of Engraving and Printing. Certified Proofs of National Bank Note Face Plates. National Numismatic Collections, Smithsonian Institution, Washington, DC, (1875-1929). Bureau of Engraving and Printing. Copies of Correspondence To and From the Bureau of Engraving and Printing. U. S. National Archives, College Park, MD. (various dates). Cochran, Bob. Listing of Known Counte7feit National Bank Notes. Privately Printed (undated). Comptroller of the Currency. Ledgers Showing Receipts of National Currency from the Engravers. U. S. National Archives, College Park, MD. (1863-1912). Comptroller of the Currency. National Currency and Bond Ledgers for Individual National Banks. U. S. National Archives, College Park, MD. (1863-1935). Huntoon, Peter. United States Large Size National Bank Notes. Laramie, WY: Society of Paper Money Collectors (1995). Walcutt, Doug. Cover photo, The Rag Picker, Vol. 32, no. cover and p. 3. The $100 subject on the 50-100 Series of 1875 plate for The Pittsburgh National Bank of Commerce (668), was canceled in 1878, and those subjects were cut from the printed sheets before the $50s were shipped to the bank. This was done in order to iso- late successful counterfeits in circulation. 7A7) ,<Larlf. -Avi • F04619594 E 1kt, Buying Selling Carl Bombara i- United States Currency P.O. Box 524 New York, N.Y. 10116-0524 Vitirtil, Phone 212 989-9108 PAPER MONEY • January/February 2002 • Whole No. 217 41 BUYING AND SELLING PAPER MONEY U.S., All types Thousands of Nationals, Large and Small, Silver Certificates, U.S. Notes, Gold Certificates, Treasury Notes, Federal Reserve Notes, Fractional, Continental, Colonial, Obsoletes, Depression Scrip, Checks, Stocks, etc. Foreign Notes from over 250 Countries Paper Money Books and Supplies Send us your Want List . . . or .. . Ship your material for a fair offer LOWELL C. HORWEDEL P.O. BOX 2395 WEST LAFAYETTE, IN 47996 SPMC #2907 (765) 583-2748 ANA LM #1503 Fax: (765) 583-4584 e-mail: Ihorwedel@home.com website: horweclelscurrency.com r Always Wanted Monmouth County, New Jersey Obsoletes — Nationals — Scrip Histories and Memorabilia Allenhurst — Allentown — Asbury Park — Atlantic Highlands — Belmar Bradley Beach — Eatontown — Englisbtown — Freehold — Howell Keansburg — Keyport — Long Branch — Manasquan — Matawan Middle tOW/7 — Ocean Grove — Reel Bank — Sea Bright — Spring Lake N.B. Buckman P.O. Box 608, Ocean Grove, NJ 07756 800-533-6163 Fax: 732-282-2525 Buying & Selling All Choice to Gem CU Fractional Currency Paying Over Bid Please Call: 916-687-7219 ROB'S COINS & CURRENCY P.O. Box 303 Wilton, CA 95693 .1 , 131.111,VITRIMASEN orpostuncvntrar, rar-vintiut or 1111111VNEfffgarggibffigtIORIGIt E000130ATHE FIRST NATIONAL BANK OF GREENVILLE CO MISSISSIPPI WILL PAY TOME NEARER ON DEMAND CI TWENTY DOLLUIS E000130A Main Street West from Cowan Hotel, Greenville, Mien. Looking west on Main Street in Greenville, MS. The First National Bank of Greenville is the first building on the right. 42 January/February 2002 • Whole No. 217 • PAPER MONEY Revisiting One's Childhood Hometown FNB of Greenville, MS Becomes Court House BY FRANK CLARK M Y FAMILY LIVED in Greenville, Mississippi, from 1964 to 1965. In 1997 on the way to the International Paper Money Show in Memphis, I visited Greenville for the first time since we moved to Dallas in 1965. Besides returning to my old neighborhood, I wanted to see what the First National Bank of Greenville looked like. Since I was a child when we lived there, I did not have any recollections of the However, my numismatic leanings blossomed in Greenville. I visited my first coin store, bought my first "Blue Book" and Whitman folders there. What follows is what I learned on my visit. The First National Bank of Greenville was the first federally-chartered bank in Washington County in 1887 with Charter #3765. The founding President was James F. Negus. A neo-classical revival building was built in 1903. Mr. Negus selected marble and stained glass in Italy for his new two-story bank building. This building was in use by the bank for 75 years. In 1989 it was acquired Series 1929 Type 1 $20 and renovated by the city. Today, it houses the Greenville Municipal Court. It still retains much of the charm of the old bank building, along with an innova- tive and distinct current day use. There are four large columns on the front porch that has a stepped entry way. "CH. 1887" is above the front door that faces west. An iron door covers the front door. The words "First National Bank" are above the north side entrance. On the northwest corner of the building is a bronze plaque stating that this bank is listed in the National Register of Historic Places. Iron bars cover the doors and windows. The porch and immediate inside floor consists of brown and white tile. The teller area consists of five windows: three teller windows; one collections window; and one note-clerk window. Tile columns next to the teller windows are made of marble and brass with ten globe lights on top. Six ornate "FNB"s decorate these six columns. The floor area behind the teller's location is made of wood. The court room begins behind the teller windows. The judge sits in the back in the center of the room in front of the bank's old vault. The words "ABSOLUTE SECURITY" are above the vault and therefore also above the judge. These words were intended for the bank and vault, but somehow seem appropriate for a courtroom. A winding staircase to the bank or building. The FNB of Greenville was built in Federal Greek Revival architecture. houses Greenville's Municipal Court. Today it PAPER MONEY •January/Fehruary 2002 • Whole No. 217 right of the judge leads to the second floor offices. A large stained glass skylight is located in the very high ceiling above the teller area. Its colors are red, white, purple and blue in a lily design. Eight additional stained glass win- dows are located on the front and side walls. Colors for these windows are green, gold and red. Each window has the same design: a torch with a wreath and ribbon. There is a fireplace on each side wall. Two globe lights are on each mantel. The left fireplace had been turned into a safe for the night depository. Extensive wood panel- ing lines the walls. To complete the descrip- tion of the building: there are two ceiling fans, three wall heaters and a marble writing ledge along the front wall. I visited the former bank building while court was in session. It was crowded and 43 metal detectors had been installed. I was glad that I had finally made it back to Greenville. A Bit More on Short Snorters . . • 0 UR RECENT (NOV/DEC 2001) issue honoring the veterans of World War II and the 60th anniversary of Pearl Harbor brought a great deal of posi- tive response. It's always something of a crap shoot whenever we attempt "some- thing off the beaten track," but evidently short snorters struck a responsive chord with a number of our readers. While the compliments were nice, four respondents took time to update writer Richard Giedroyc's remarks on the HAWAII note (shown right). Richard wrote: "HAWAII overprint $1 Silver Certificate of Series 1935A is signed by 10 individuals, two of whom identify them- selves as officers. The note also indicates these people had been in Canton (Ohio?), Palmyra and Pearl Harbor. The PBM-3-6466 at the bottom of the back may be a unit designa- tion. This note is still being researched further." The consensus of our letter writers is that the PBM was a twin engine aircraft, but the details offered vary. "I read the article 'Defaced Notes Share Exciting Stories,"' Mike Stratton wrote, "and was intrigued by the Hawaii overprint. The PBM attracted me and I thought I had seen that designation before. If the signatures are Navy per- sonnel in Hawaii, then I submit that PBM could be the type of plane they were flying. The PBM Mariner was a twin-engine seaplane used for long range ocean patrols. It resembles a B- 24 bomber only with two engines. The web site www. motionmo de I s. com/ww2 navy/Am227-a r. j pg shows a model of this plane. The number after PBM on the note could be the tail number of the plane, and the 10 signa- tures could correspond to the crew. Something to think about," the Texan opined. Arizona writer John Marchildon adds some details. "The $1 short snorter refers to Palmyra Island and Canton Island, which were important places in WWII and south of Pearl Harbor. I see GI CLIPPER. Maybe a Pam Am clipper was used to transport personnel. NATS could be Navy Air Transport Service. Great article!" Floridian Dave Schlingman concurs. "As a retired airline pilot and WWII aircraft owner, the reference to PBM-3 is a twin engine WWII aircraft type. This is probably the aircraft (#6466) that these boys flew." Washington writer Mike Tauber provides perhaps the most complete update. "Being somewhat of a history buff, I found the stories on short snorter notes very interesting. . . . I believe that I can explain the meaning of the numbers on the Hawaii overprint note. "The PBM-3 was the U.S. Navy's designation for the WWII Mariner flying boat built by the Martin Airplane Co. of Baltimore. The Mariner was a large, for the time, twin- engined, well-armed aircraft that normally carried a crew of seven. The aircraft could carry two tons of bombs, depth- charges, or torpedoes and was used in an anti-shipping and anti-submarine patrol role, and also rescue. The number 6466 was likely the serial number of the aircraft. Therefore, the note may have been signed by the crew members, et al. Lastly, the name Canton probably refers to the sea port city in China, not Ohio." Thanks to all who took time to write. -- Fred Reed I COLLECT FLORIDA Obsolete Currency National Currency State & Territorial Issues Scrip Bonds Ron Benice 4452 Deer Trail Blvd. Sarasota, FL 34238 941 927 8765 Benice@Prodigy.net Buying & Selling Quality Collector Currency • Colonial & Continental Currency • Fractional Currency • Confederate & Southern States Currency • Confederate Bonds • Large Size & Small Size Currency Always BUYING All of the Above Call or Ship for Best Offer Free Pricelist Available Upon Request James Polis 4501 Connecticut Avenue NW Suite 306 Washington, DC 20008 (202) 363-6650 Fax: (202) 363-4712 E-mail: Jpolis7935@aol.com Member: SPMC, FCCB, ANA research exchange: a sery ce fordSPMC m inber-S. January/February 2002 • Whole No. 217 • PAPER MONEY44 PAPER MONEY will accept classified advertising on a basis of 15e per word (minimum charge of 53.75). Ad must he non-commercial in nature. Word count: Name and address count as five words. All other words and abbreviations, figure combinations and initials count as separate words. No check copies. 10% discount for four or more insertions of the same copy. Authors are also offered a free three-line classified ad in recognition of their contribution to the Society. These ads are denoted by (A) and are run on a space available basis. HUNTSVILLE, ALABAMA PAPER WANTED: Nationals, obso- letes, merchant scrip, checks, postcards, etc. Bob Cochran, Box 1085, Florissant, MO 63031. Life Member SPMC. (218) PAPER MONEY BACK ISSUES WANTED: #124 (July/Aug 1986) through #150 (Nov/Dec 1990). Bob Cochran, Box 1085, Florissant, MO 63031. Life Member SPMC. (218) BANK/BANKING HISTORIES WANTED: I collect, sell and trade bank histories. Whatcha got: Whatcha need? Bob Cochran, Box 1085, Florissant, MO 63031. Life Member SPA IC. (218) RUSSIAN AND WORLD BANK NOTES, Paper Collectibles and Coins. Michael Haritonov, P.O. Box 1436, 40020 Sumy, Ukraine. SPMC member. (218) ONLY ONE MORE ISSUE NEEDED. I need only one issue of Paper Money to complete my set (#133 J/F 1988). If you can help, please contact Fred Reed, e-mail: freed3@airmail.net (A) HELP ME TURN UP THESE NOTES. NB of Commerce of Dallas #3985 ($5, $10 T2), and North Texas NB in Dallas #12736 ($10, $20 T1). Frank Clark, POB 117060, Carrollton, TX 75011-7060 (A) BUENA VISTA, COLORADO or Harrah, Oklahoma NBNs wanted! 3'/ill buy or trade -- Call Kim Fisher 708-460-9427 (A) • Artist Inquiry. Would like to know if anyone has any information as to whether Jacob Wrey Mould, an architect, did any vignette art or designs for bank notes. A broadside he issued in 1869 indicates that he offered this service. Contact Mark Tomasko, Box 834, NY, NY 10150-0834 or mntomasko@worldnet.att.net • Movie Money. Researcher attempting to catalog scrip used as money in motion pictures, TV & stage for future Paper Money series. Contact the Editor or Fred Reed at freed3@airmail.net WANTED COLONIAL/CONTINENTAL BANKNOTES Any Quantity, Any Condition. Ship in confidence to: Steve Pomex (Member ANA, SPMC, IBNS) PO Box 2, Ridgefield Park, NJ — 07660 Tel: 201-641-6641 / Fax: 201-641-1700 Email: Steve@Pomexport.com MYLAR D® CURRENCY HOLDERS PRICED AS FOLLOWS BANK NOTE AND CHECK HOLDERS SIZE INCHES 50 100 500 1000 Fractional 43/4 x 3 3/4 $16.75 $30.50 $137.00 $235.00 Colonial 51/2 x 3 1/16 17.25 32.00 144.00 265.00 Small Currency 6 5/8 x 278 17.75 34.00 150.50 280.00 Large Currency 7 1 /8 x 3 1/2 20.25 37.00 167.50 310.00 Auction 9 x 3 3/4 21.75 40.00 193.00 339.00 Foreign Currency 8 x 5 25.00 46.00 206.00 360.00 Checks 95/8 x 4 1 /4 25.00 46.00 206.00 360.00 SHEET HOLDERS SIZE INCHES 10 50 100 250 Obsolete Sheet End Open 8 '/4 x 14 1 /2 $11.20 $51.00 $82.00 $188.00 National Sheet Side Open 8 1/2 x 17 1 /2 12.00 55.00 90.00 207.50 Stock Certificate End Open 9 1/2 x 12 1 /2 10.70 48.50 77.00 157.50 Map & Bond Size End Open 18 x 24 46.50 212.50 342.00 785.00 You may assort note holders for best price (min. 50 pcs. one size). You may assort sheet holders for best price (min. 5 pcs. one size) (min. 10 pcs. total). SHIPPING IN THE U.S. (PARCEL POST) FREE OF CHARGE Molar la" is a Registered Trademark of the Dupont Corporation. This also applies to uncoated archival quality Mylar® Type D by the Dupont Corp. ot the equivalent material by ICI Industries Corp. Melinex Type 516. DENLY'S OF BOSTON P.O. Box 1010, Boston, MA 02205 • 617-482-8477 ORDERS ONLY: 800-HI-DENLY • FAX 617-357-8163 WANTED: NATIONAL BANK NOTES Buying and Selling Nationals from all states. Price lists are not available. Please send your want list. Paying collector prices for better California notes! WILLIAM LITT P.O. BOX 1161 Fremont, California 94538 (510) 490-1751 Fax: 9510) 490-1753 E-mail: BillLittPaol.com Member SPMC, PCDA, ANA VISIT MY WEB PAGE AT WWW.KYZIVATCURRENCY.COM FOR A GOOD SELECTION OF NOTES CONSERVATIVELY GRADED AND REASONABLY PRICED FOR THE COLLECTOR NATIONAL BANK NOTES LARGE SIZE TYPE SMALL SIZE TYPE STAR NOTES WEBS MISCELLANEOUS?? TIM KYZIVAT (708) 784-0974 PCDA, SPMC PAPER MONEY • January/February 2002 • Whole No. 217 45 Claud & Judith Murphy We Buy & Sell Paper Money, checks, bonds, stocks, letters, old postcards, stereoviews, cdv's If it's old and it's paper, we have it! Box 24056 Winston-Salem, NC 27114 336-699-3551 fax: 336-699-2359 e-mail: MurphAssoc@aol.com www.murphyenterprises.com r Fred L. Reed III fred@spmc.org January/February 2002 • Whole No. 217 • PAPER MONEY46 NEW MEMBERS MEMBERSHIP DIRECTOR Frank Clark P.O. Box 117060 Carrollton, TX 7501 1 SPMC NEW MEMBERS - 11/02/2001 10342 George H. Swift, 4451 SW Branch Terrace, Palm City, FL 34990 (C & D, Florida Obsoletes, MPC, AMC, Scrip), Frank Clark 10343 John Barrasso (C, Large Notes), Website 10344 Alan M. Efrussy, 7241 La Sobrina, Dallas, TX 75248 (C, US & Canada), Frank Clark 10345 Tommy Acker, 706 Riverside Dr, Spartanburg, SC 29302 (C, Spartanburg Nationals), Wendell Wolka 10346 Thomas C. Vincent, 5526 Jackson Farm Loop SE, Lacey, WA 98503-8018 (C), Frank Clark 10347 William Brennesholtz, 192 Gibbs Rd, Central Islip, NY 11722-2611 (C, US Small), Frank Clark 10348 Robert Reiter, 22 172 Waterside Dr, Boca Raton, FL 33428 (C, US, Curacao, Venezuela, Netherlands and Errors), R.M. Smythe 10349 Glenn G. Hollenbeck (C & D), Website 10350 Richard S. Gore, 1 136 Ashridge Rd, West Chester, PA 19380 (C, Fractionals, FRBN's), Torn Minerley 10351 Evan Smith, 333 National Hwy, Lavale, MD 2 1 502- 7 1 16 (C, MD, WV & PA Nationals), Bob Cochran 10352 Peter Misseri, 1910 Benson Ave, Brooklyn, NY 1 1214-3810 (C, Large & Fractional), Website 103 5 3 Nader Olomi, 6009 E. 112 St, Tulsa, OK 741 3 7- 77 15 (C & D), Website 10354 Walter B. Price, Sr. (C, Large & Small), Frank Clark 10355 Jack Starnes, 7421 Peabody, Austin, TX 78729 (C, Large), Website 10356 Timothy Morrow, 801 E. Tahquitz Way Suite 200, Palm Springs, CA 92262, (C & D, Large & Small), Website 10357 Nyle C. Monday, PO Box 36173, San Jose, CA 95158 (C, China, Japan, US), Website 1 03 58 Dr. Donald I. Burdick, 22604 N. 55th St, Phoenix, AZ 85054-7611 (C), Frank Clark HONORARY LIFE MEMBERSHIPS HLM012 Ron Horstman, formerley LiVIO 12, 1526 HLA401 3 Eric P. Newman, formerly 290 HLA1014 Robert H. Lloyd, formerly 2251 LIFE MEMBERSHIP LM3 3 5 Mark C. Watson, formerly 9164 REINSTATEMENT 8982 James L. Watson, 3350 Hambletonian Dr, Florissant, MO 6303 3-3041 (C), Frank Clark DECEASED Brent Hughes #7 Roger Purdy # 9943 (note: Mr. Hughes had the lowest active SPMC number. He co-created the SPMC logo, was presented two SPMC Awards of Merit (1994 & 2000) and the Nathan Gold Award (1997). Mr. Hughes served as a Society Governor (1969-74). He won three SPMC literary awards, and a number of his articles on hand will be published posthumously in his memory. Important Announcement I F YOU'VE READ THIS FAR IN THIS ISSUE, you may have observed the important announcement on Page 11. Based on the success of last year's publishing program, Paper Money is expanding its special issues for 2002 to three -- that's right we'll deliver a trio of jam- packed, blockbuster special interest titles during the corn- ing year. This is the place to sell your notes! • March/April will feature National Currency offer- ing readers a "keeper" reference issue with out- standing articles on notes of New York, Texas, Missouri and elsewhere • May/June will be devoted to Confederate and Southern States notes, once again providing col- lectors with a fundamental resource to their col- lecting specialty. • September/October will offer our 2nd annual International Issue, bringing forth original and comprehensive treatments of paper money of the world. Readers tell us they appreciate having such resource titles available at their fingertips. Advertisers tell us that they know collectors read such issues over and over again as they refer to the content in the issue, exposing and re- exposing the readers to the advertisers' commercial mes- sages. You needn't be a dealer; sell your duplicates! Such repeated exposure is a hallmark of successful advertising campaigns and that makes Paper Money's Special Issues an absolute MUST for the successful paper money seller. So sell your desirable Nationals, Confederates and worldwide notes to your fellow SPMC members in Paper Money's specials this year. Our rates are reasonable (Page 11) and special rates apply as an incentive to encourage you to advertise your notes for sale in those special issues. Ad deadlines are: • National Currency: January 15, 2002 • Confederate Currency: March 15, 2002 • Worldwide Notes: July 15, 2002 Very limited space is still available. So, contact Ad Manager Bob Schreiner or the Editor for full details. Our addresses are on Page 2. We'll be delighted to help you place your ads. You'll make a buck. SPMC members will be delighted to find material to add to their collections -- and we'll all delight in the special articles those ads will help publish in these large topical issues. •0 imam MEMBER ANA 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 1-440-234-3330 One;1:1001iiiri ,F11:31AN.„ (,,- 4. 277/.., I ;:t • . ,mar, _LniA. • 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 (651) 423-1039 SPMC LM 114—PCDA—LM ANA Since 1976 U.S. Paper Large Size Actively purchasing ALL large size paper money, especially popular designs in AU-GEM and indi- vidual rarities in any grade. Please permit us to make an offer on one note, duplicates, or an entire collection. Deal with THE specialist FREDERICK J. BART (810) 979-3400 P.O. Box 2, Roseville, MI 48066 e-mail: BartIncCor@aol.com AD INDEX AMERICAN SOCIETY OF CHECK COLLECTORS 41 BART, FREDERICK J 47 BENICE, RON 44 BOMBARA, CARL 41 BOWERS & MERENA GALLERIES IBC BUCKMAN, N.B. 41 COHEN, BERTRAM 35 COLLECTIBLES INSURANCE AGENCY 11 CURRENCY AUCTIONS OF AMERICA 48 DENLY'S OF BOSTON 45 EARLY AMERICAN NUMISMATICS 31 HAGEN, BRUCE 41 HOOBER, RICHARD T. 35 HORWEDEL, LOWELL C. 41 HUNTOON, PETER 35 JONES, HARRY 45 KAGIN, A.M. 19 KAGIN'S 37 KNIGHT, LYN 17 KRAUSE PUBLICATIONS OBC KYZIVAT, TIM 45 LITT, WILLIAM 45 LITTLETON COIN CO. 33 MANSFIELD NUMISMATIC SOCIETY 33 MURPHY, JUDITH & CLAUD 45 NAPLES BANK NOTE COMPANY 5 OREGON PAPER MONEY EXCHANGE 35 PARRISH, CHARLES C. 47 POLLS, JAMES 44 POMEX, STEVE 44 ROB'S COINS & CURRENCY 41 RUBENSTEIN, JOE 37 SHULL, HUGH 2 SILVER PENNY COINS 5 SLUSZKIEWICZ, TOM 35 SMYTHE, R.M. IFC STACK'S. 29 UNIVERSITY PRODUCTS 37 YOUNGERMAN, WILLIAM, INC. 31 PAPER MONEY • January/February 2002 • Whole No. 217 47 L CAA Upcoming Schedule: September 2001 - Cincinnati November 2001 - St. Louis - Charity Auction January 2002 - Orlando May 2002 - Rosemont elf it ant interested in consigning my currency to one of your upcoming auctions, please contact me. 1 would like a copy of your next Auction Catalog. Enclosed is a check or money order for $15, (or an invoice for SI,000 from another cur- rency company: Fax or Mail a copy to CAA). ❑ I would like a one-year subscription to all your Auction Catalogs. Enclosed is $50 for the year. ❑ I would like a FREE copy of your video "Your Guide to Selling Coins and Currency at Auction." J Fill in your e-mail address below for free, comprehensive e-listings, news, and special offers. Name City State Zip Daytime Phone Even!, Phone FOR FASTER SERVICE, Call 1-800-872-6467 CURRENCY AUCTIONS OF AMERICA Heritage Plaza, 100 Highland Park Village, 2nd Floor • Dallas, Texas 75205-2708 214-528-3500 • FAX: 214-443-8425 havw.HeritageCoin,com • e-mail: Bids@HeritageCoildroin Len Glazer. Ext. 390 (LeneolierilageCoin.cem) Allen Minch, Ext. 327 (Alleneidieritagefoinvoni) Steve I, Jan Halperin Greg RoM1an Heritage Plaza, 100 Highland Park Village, 2nd Floor • Dallas, Texas 75205-2788 • 1-800-US COINS (872-6467) • 214-528-3500 • FAX: 214-443-8425 wxm.HeritageCoin.com • e-mail: Bids@HeritageCoin.com • www.CurrencyAuction.com • e-mail: Notes@CurrencyAuction.com CURRENCY AUCTIONS OF AMERICA Len Glazer 1-800-872-667 Ext. 390 (Len@HeritageCoin.corn) Allen Mincho 1-800-872-667 Ext. 327 (Allen@HeritageCoin.com) www.CurrencyAuction.com America's it 1 Numismatic Auctioneer ITAGE Numismatic Auctions, Inc. ‘INGC FOGS ICTI1 48 January/February 2002 • Whole No. 217 • PAPER MONEY An unprecedented opportunity for Currency Buyers and Sellers ATTENTION Currency Auctions of America joins the Heritage family of companies Currency Auctions of America, America's most respected currency auctioneer, has just become part of the country's largest numismatic auction house, Heritage Numismatic Auctions. Building on the combined strengths of both companies, opportunities for buyers and sellers of paper money will greatly increase with more frequent CAA auctions at conventions around the country, and twice-monthly sales on the Internet at www.CurrrencyAuction.com . CAA founders Len Glazer and Allen Mincho, two of the top currency experts in the world, will continue handling all consignments, grading, and cataloging. CAA will be able to offer more material, hold more auctions, and have greater access to potential bidders through r Heritage's huge customer base, worldwide marketing expertise, financial strength, and advanced technology. This gives CAA the unmatched ability to attract potential consignors and bidders, which means more choices for paper money collectors: • more frequent auctions, containing larger amounts of material • access to Heritage's active mailing list of 50,000 names and web site membership of nearly 40,000 numismatists •online interactive bidding and paper money search engine capabilities at www.CurrencyAuction.com and www.HeritageCoin.com . • full color, enlargeable images of every single-note lot posted on the Internet • selected lots for the September CAA auction in Cincinnati will also be available for viewing through Heritage at the ANA convention in Atlanta in August •all CAA catalogs will be available in CD-ROM format as well as online • lead-times will be shortened between consignment deadlines and sale dates •greater financial resources for cash advances to consignors and for purchases We invite your participation in future CAA auctions. 7i, by attv‘ STATIES,4 W-- #k4 ipiRkfif – NI , _ ,:, 101 , .... 7 wo,: 4,,,, , (.4.44': lli , , i,„„..,) ,,-„„,,,:..,„,,,, 101 ,, 11014TCOM IRS', / We offer you the incomparable and very profitable ad- vantage of having your material presented in our superbly illustrated Grand FormatTM catalogue to our worldwide clientele of collectors, investors, museums, dealers, and other bidders. Your paper money will be showcased by the same expert team of cataloguers, photographer, and graphic artists that have produced catalogues for some of the finest collections ever sold. And, the presentation of your currency will be supervised by Q. David Bowers, one of the most well- known names in the entire hobby. Choice IT /861 Montgomery Issue $100, realized $25,300 ------=411fitittAMWS :064117mottri* 12Ei9 .jL WEEHAWKEN Impressive $100 Treasury or Coin Note, realized $138,000 Unique Territory of Dakota, National Bank Note, Serial #1, realized $55,200 It's Easy to Consign! Selling your collection will be a pleasant and financially rewarding experience. From the moment we receive your consignment we will take care of everything: insurance, security, advertising, worldwide promotion, authoritative cataloguing, award-winning photography, and more—all for one low commission rate, plus a buyer's fee. When you do business with Bowers and Merena, you do business with a long- established firm of unsurpassed professional and financial reputation. Over the years we have sold over $350,000,000 of numismatic items and have pleased more than 30,000 consignors. Just contact John Pack, our auction director at 800-458-4646 to discuss your consignment. It may well be the most financially rewarding decision you make. cr) Atelliffaft (11 711411nairi- ims6s-ifitommmom_ litiLAdikir4100gata.4AUMUA4AAWAkAaVo AMU SIMINNIUMIN , „Aviedm "00E00 dfACrid4vq/kr .1, sx,mory MILMIS wuueirOs. 24,4 Weehawken, New jersey $5 National Bank Note Pair Serial #1realized $IS, 525 [it REALIZE TOP MARKET PRICE FOR YOUR PAPER MONEY! Let Our Success be Your Success! Consign with Bowers and Merena Galleries Today! Buy Online, Bid Online, Books Online' www.bowersandmerena.com BOWERS AND MERENA GALLERIES A COLLECTORS UNIVERSE COMPANY—NASDAQ: CLCT PM0901 A Box 1224 • Wolfeboro, NH 03894 • 800-458-4646 • In NH 569-5095 • FAX 603-569-5319 www.bowersandmerena.com • e-mail: auction@bowersandmerena.com Li* Fa Bank Note Reporter • Numismatic News • World Coin News • Coins Krause Publications delivers your subscription online! Now available free to all subscribers Now you can access online the vital coin and paper money information you want. Read every issue right from your computer. You'll find: c.wco,szrde,au. • It's faster than mail - no postal delays! • Information is available online only 4 days after issue mails. • You get your mailed copy too. • You're among the first to check Display & Classified Ads. • Every issue of Coin Market is available to Numismatic News subscribers — the most accurate prices at your finger tips! • See every issue online and search every issue for the item you want. -41; P?n, Here's how to access theinformation. Take advantage of this special! MF 7a - 8pm Call Toll Free 800-258-0929 Sat - 8am m - 2pm CT Offer ABA7CB Or subscribe online at www.collect.com Go to www.collect.com • Register & go to "View Online Issues" in My Corner • Fill in required subscriber information •You're ready to go! 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