Feb. 16, 2001, The Benson Collection Part 1, Sale 8
Lot 2545
California, San Francisco,
Lot of Series of 1929, Crocker First National Bank and Pacific National B.
(1) Fr. 1801-1, 1929, $10.00, Type 1, Pacific National Bank, Fine
(1) Fr. 1803-1, 1929, $50.00, Type 1, Crocker First National Bank, Very
Good. Total number of notes in lot: 2.
Estimated Value $100-125.
Lot 2546
California, Whittier,
1882, $5.00, Brown Back, The First National Bank of. Charter 5588. Fr. 477.
When it comes to California Brown Backs, San Francisco and Los Angeles make up
about 98% of the known notes for the state. Very few national banks outside of
the Los Angeles area were even organized. Some did issue Brown Backs; including
Fullerton, Santa Ana, Long Beach, Covina, Monrovia, Pasadena, and Pomona. All
Brown Backs known from these places are tightly held and rarely become
available to the collectors. Sixteen notes are reported and only 3 of them are
Brown Back $5.00's. This note is a California "trophy note," worthy of the
finest collection and is the finest note on this bank. Signed by F.W. Hadley,
assistant cashier and W. Hadley, president. From the Hadley Estate.
Choice Uncirculated.
The First National Bank was originally
The Bank of Whittier and was incorporated on November 26, 1894. J.M.C. Marble
was president of the bank and Washington Hadley was cashier. A few years later,
Washington Hadley was elevated to the presidency of this institution and of The
First National Bank of Whittier. Washington Hadley remained president of the
latter until he reached the advanced age of ninety-two years, earning for
himself the reputation of being the oldest bank president in the United States.
He died, December 21, 1911 at the age of ninety-four.
Estimated Value
$2,500-5,000.
Lot 2547
California, Whittier,
1882, $5.00, Date Back, The First National Bank of. Charter 5588. Fr. 537.
1882 Date Backs are very much the same as Brown Backs, as most of the notes
listed in the California Census are from San Francisco or Los Angeles with very
little in between. Just 3 Date Backs are listed from this bank; 2 of them are
$5.00's and 1 is a $20.00. The $20.00 has not been seen in 5 or more years,
while the very low grade $5.00 is in a local collection. A few pinholes from
the original note that was pinned to the bill. Choice Uncirculated.
The note attached to the bill is very unusual and just outright rare.
"1st bill as cashier 2/5/1910 Mr. F.W. Hadley". No doubt that Mr. Hadley was
celebrating his elevation from assistant cashier to cashier that day and he
saved the very first bank note he signed.
Signed by F.W. Hadley, cashier
and A. Hadley, vice president. From the Hadley Estate.
Fred W.
Hadley was born July 1, 1874, while his parents resided at Lawrence, Kansas. He
attended public school there, and on leaving Kansas he worked for a year with a
mortgage firm in Denver, Colorado. Then coming to Los Angeles, he attended high
school in that city, and took a course in Whittier College. He left college to
become collector for The National Bank of California at Los Angeles, and while
at that institution he was advanced to bookkeeper and then to paying teller.
Fred Hadley had been a Whittier banker since 1903. He was the first bookkeeper
for The First National Bank, then assistant cashier, then cashier and in 1914
advanced to presidency of the institution.
Estimated Value
$2,500-5,000.
Lot 2548
California, Whittier,
1882, $10.00, Value Back, The First National Bank of. Charter 5588. Fr.
577. Almost any 1882 Value Back from southern California not issued from Los
Angeles banks are rare! The only Value Backs that we know of near Whittier are
just a few from Fullerton and Covina. None are reported from the banks from
Pasadena, Santa Ana, and Long Beach. These banks had large circulation during
the time period, but none have shown up. This is the only Value Back known from
Whittier and is most likely to stay that way for quite a while. Very Good.
Estimated Value $1,000-1,500.
Lot 2549
California, Whittier,
1902, $5, Plain Back, First National Trust and Savings Bank of. Charter
5588. Fr. 607. On May 16, 1927, the bank decided to add a trust and savings
department and thus made a change in their corporate title to reflect such.
This title was used for less than 2½ years before the bank was
liquidated in early 1929. Kelly reports 3 notes, while the Census shows 5. This
note being the finest known. Extremely Fine.
Estimated Value
$1,000-1,500.
From the Hadley Estate.
Lot 2550
California, Whittier,
Leather Change Purse from The First National Bank. Circa 1920's. With gold
embossing "The First National Bank Whittier, California" From the Hadley
Estate.
Estimated Value $25-UP.
Lot 2551
California, Whittier,
1902, $10.00, Plain Back, The Whittier National Bank. Charter 7999. Fr.
625. From Whittier's other national bank we have this specimen. Thirteen
large-size notes are listed in the Census, this being tied with 4 other notes
listed in Fine. The bank was organized on November 9, 1905. Johnson and Johnson
(no relationship to the pharmaceutical company) overprinted signatures.
Fine.
Estimated Value $800-1,000.
Lot 2552
California, Whittier,
1902, $20.00, Plain Back, The Whittier National Bank. Charter 7999. Fr.
651. Another example from this bank. Just 3 $20.00's listed from here, this
being the middle-graded note. Very Good.
Estimated Value
$800-1,000.
Ex. Charles G. Colver Collection.
Lot 2553
California, Whittier,
1929, $20.00, Type 1, The Whittier National Bank. Charter 7999. Fr. 1802-1.
About a year after small-size notes were introduced, this bank, like The First
National, added a trust and savings department. The name of the bank was
changed to The Whittier National Trust and Savings Bank. Only 1,572 $20.00's
were issued with the old title before the new notes arrived in the mid-1930.
Presently there is an uncut sheet of $5.00 notes (which no one seems to have
seen in years), a single $10.00 in VG, and this wonderful $20.00.
We
would like to take the time and point out that there seems to be an error in
Kelly's book regarding the number of notes on this bank. Kelly should have it
listed as 11 L U+2S and not 11 L 13S. Almost Uncirculated.
Estimated Value $800-1,200.
Lot 2554
California, Whittier,
1929, $10.00, Type 1, The Whittier National Trust and Savings Bank. Charter
7999. Fr. 1801-1. With 18 $10.00's listed in the Census, this is by far the
finest note on the bank! Super fresh and totally original in every way with
good colors and nice margins. No need to upgrade from this note.
Estimated
Value $1,000-1,500.
Lot 2555
California, Whittier,
1929, $5.00, Type 2, The Whittier National Trust and Savings Bank. Charter
7999. Fr. 1800-2. Type 2's from some of the smaller banks like Whittier are
scarce. Fine.
Estimated Value $250-500.
Lot 2556
Hawaii, Honolulu, 1902,
$5.00, Plain Back, The First National Bank of Hawaii at Honolulu. Charter
5550. Fr. 607. Wow! A drop-dead, unmolested, problem free note from the
Territory of Hawaii! Just a delightful note with a few folds. Choice
Extremely Fine.
Estimated Value $3,000-4,000.
Lot 2557
Hawaii, Honolulu, 1902,
$10.00, Plain Back, The First National Bank of Hawaii at Honolulu. Charter
5550. Fr. 633. Not as nice as the lot above, but still very acceptable. Very
Fine.
Estimated Value $2,500-3,500.
Lot 2558
Illinois, Canton, 1929,
$100.00, Type 1. The First National Bank of Canton, Illinois.
Charter 415. Fr. 1804-1. Eight notes are listed in Kelly on this bank. Some
overall soiling. Very Fine.
Estimated Value $250-500.
Lot 2559
Illinois, Peoria, 1882,
$50.00, Brown Back, The Illinois National Bank of. Charter 5361. Fr. 518. A
very rare bank that was chartered in 1900 and was out by 1916! The bank only
issued $5.00's, $50.00's and $100.00's in the 1882 series. We venture to say
that the only other note reported on this rare bank is that of a $5.00
denomination. A "trophy note" from the "Prairie State". Fine.
Estimated Value $1,500-2,500.
Lot 2560
Illinois, Quincy, 1882,
$5.00, Value Back, The Ricker National Bank of. Charter 2519. Fr. 574.
Tight lower margin. Very Fine.
Estimated Value $250-350.
Lot 2561
Iowa, Davenport, 1902,
$100.00, Red Seal, The First National Bank of. Charter 2695. Fr. 868.
Originally chartered with charter number 15, the bank was forced under the Act
of 1882 to recharter and received charter number 2695. As time drifted by, the
banks wanted to retake their earlier charter numbers and an Act was passed to
allow this. On May 22, 1911, charter number 2695 retook its original charter
number 15.
Any $100.00 Red Seal note is rare in this market. Lovely pen
signatures of the cashier and vice president. Very Fine to Extremely Fine.
Estimated Value $3,500-7,000.