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    Description

    Granger, TX - $5 1929 Ty. 1 The First NB Ch. # 6361
    This tiny central Texas farming community was home to two National Banks, both of which operated with just barely above the legally required capital for most of their existence. Granger, located in extreme northeastern Williamson County, prospered first as a railroad junction and then, as the price of cotton soared, with its fertile blacklands. By 1912, the presence of a huge cotton gin brought enough prosperity that Granger was the only Texas community of fewer than 5000 people to have paved streets, as well as an opera house. By the 1920's, however, that agricultural prosperity had disappeared, as the post World War I farm depression bit deeply. The circulation of both Granger banks plunged to nearly nothing, and, by the time 1929 arrived, this institution in particular was a shadow of its never really robust previous size. This example is the sole surviving Series 1929 specimen, with even the Philpott, Everson and Irish collections containing no notes of any kind from this bank. If rarity and desirability are any guide, expect this evenly circulated PMG graded Choice Fine 15 example to easily reach and very likely exceed...


    Auction Info

    Auction Dates
    June, 2010
    17th-21st Thursday-Monday
    Bids + Registered Phone Bidders: 3
    Lot Tracking Activity: N/A
    Page Views: 279

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