Birmingham, AL - $50 1882 Brown Back Fr. 511 The City National Bank Ch. # 3993 PMG Very Fine 30.. ...

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Sole Survivor from Birmingham, AL Charter # 3993 and Ex: Grinnell

Birmingham, AL - $50 1882 Brown Back Fr. 511 The City National Bank Ch. # 3993 PMG Very Fine 30.
The sole survivor known from this short-lived bank that was chartered on March 18, 1889 and liquidated on January 8, 1895 is offered here. The City NB issued only 334 two note sheets of $50-$100 Brown Backs. After liquidation, the City NB was absorbed by the Berney NB, charter number 3442. The Berney NB was opened only from 1886-1901, but it pursued an aggressive policy of redeeming the City NB's circulation and they almost completely succeeded, as the example in this lot is the only known note to have escaped redemption. This $50 Brown Back, one of only three known from the state, made its way to the Albert A. Grinnell Collection. It became lot 1242 in Part III of the Barney Bluestone auction of Grinnell's holdings held June 16, 1945. Its other two auction stops would not be until 1988 and 2003. This delightful note is a solid representative for the grade. Bold pen signatures are of Cashier J(ames) H(enry) "Jack" Barr and President B(raxton) B(ragg) Comer. They served together during the last years of the bank, 1892-94. Cashier Barr became the cashier at the Berney NB, 1896-98. Next, he served as cashier at the First NB of Birmingham, charter number 3185, followed by a term as president, 1901-14. He also served on the Executive Council of the American Bankers Association during the year 1911. President Comer went on to serve as the 33rd governor of Alabama, 1907-11 and Alabama's US Senator in 1920. This is a trophy National Bank Note if there ever was one.

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