Description

    Elyria, OH- The State Bank of Ohio, Lorain Branch $1 (3) 1855-61 UNL; G710a; G710b Wolka UNL; 1077-05; 1077-06
    The Lorain Branch of the State Bank of Ohio was organized in 1847 and maintained a successful business until it became the First National Bank of Elyria (Charter 438) in 1864. The First National was liquidated in 1883 and carried on as the National Bank of Elyria (charter 2863). The Lorain Branch left a scant $9,782 in outstanding circulation as of February 1, 1866. These three $1s represent the progression of note varieties after the Vice President started signing the lowest three denominations in 1855-56. The initial interim step was to add a manuscript "V" in front of "Prest." On the example in this group, however, John Andrews, who was President, signed, suggesting that J.R. Finn, the Vice President, was perhaps either ill or out of town when notes needed to be signed. The next progression was to have "Vice Prest." engraved. This can be seen on the note which was redeemed by the National Bank of Elyria. The final variety had "Vice Prest." engraved along with the addition of the "ABCo." monogram which appears above the left plate letter. These three notes grade Fine or Better, with the National Bank of Elyria redeemed note having two hammer cancels. Great for the specialist.
    From The Wendell Wolka Collection


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    Auction Dates
    September, 2014
    3rd-8th Wednesday-Monday
    Internet/Mail Bids: 1
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