DescriptionCleveland, OH- The Forest City Bank-Ohio State Stock Bank $1 (2) 1852-53 G2 Wolka 0734-01
This bank was one of a class of banks, collectively known as Ohio State Stock Banks, created by the state legislature in 1851. The bank opened in 1851 and continued in business until sometime after the Civil War. The small amount of outstanding circulation is indicated by the fact that the bank's bond given to secure later redemptions was only $3,000 and was returned to the bank's principals in 1868. Notes for all of the banks were printed from a special half inch thick plate which had an opening for the insertion of a tombstone "slug" which contained the bank name. These slugs were interchangeable so that all of the banks could use a single plate. Genuine notes from any of these banks are almost non-existent. While the $1 note, which grades Good with a missing end and body tears, has been subjected to extensive circulation it is Genuine as evidenced by the fact that it is on watermarked paper. It is one of only three Genuine examples known from all of the seventeen Ohio State Stock Banks.
The hand drawn rendition of this note is clearly contemporary to the period but its purpose is unknown. While someone went to some amount of effort to produce it, it is clearly not up to the standards of a bank note company's work. The consignor suggests that it might be the quick sketch made by an engraver or plate production person at Rawdon, Wright Hatch & Edson, Cincinnati and served as a reference to what the note layout was supposed to look like. It appears that this art may have been severed and rejoined on the left fold line. There are two stamp hinge reinforcements on the back. An intriguing piece worthy of further research.
From The Wendell Wolka Collection
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