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    Description

    Key St. Louis Payable-Maryland Tie Issuer Note

    St. Louis, MO - Office of the Missouri Life Insurance & Trust Co./Susquehanna Bank, Port Deposit, Maryland $5 18__ Shank 102.11.5 P Proof PCGS Choice About New 58.
    An exceedingly rare and interesting note, one of three examples that originated in lot 657 of the 1990 ABNCo Archive sale. The two Proof sheets in the sale ($1-$1-$2-$3 and $5-$5-$5-$10) realized $2,420 nearly 30 years ago. That wasn't due to its Port Deposit location but its Missouri affiliation. This is an India paper Proof on original thick paper sheet by Draper, Toppan, Longacre & Co. This note is one-eighth of the entire supply of this St. Louis title tied to Port Deposit. It was not in the Newman Collection and important as such. This Proof of an intended design tells the tale of a bank in trouble. The Susquehanna Bank opened and closed in 1834, reorganized and reopened in 1836 and failed in 1838. As part of its strategy to avoid redeeming notes, some were intended, as evidenced by this Proof, to be redeemed at the Missouri Life Insurance & Trust Co. in St. Louis, MO, some 850 miles away. The company title is not listed in the 1838 St. Louis directory published by Washington University in St. Louis. There is only some petty wrinkling observed on this Proof which appears almost Gem.


    Auction Info

    Auction Dates
    April, 2020
    22nd-27th Wednesday-Monday
    Bids + Registered Phone Bidders: 1
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