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Signature Set Detail: Fourth Charter So-Called Series of 1902 2d bite



Set Category:

Owner:
ddr70 

Set Theme:
Acts of July 12, 1882 and April 12, 1902 extended charters for existing banks for another 20 years ushering in the so-called 2d and 3rd charter periods, respectively. Really, banks only ever received one charter, so this is all mis-information--the banks received notes with different series designs. One stipulation of the Acts was that extended banks must issue 'distinctly different' notes. So expiration of a number of banks' charters around 1922 created the need for new plates with their latest charter date and current Treasury signatures combo (generally Speelman and White)and generally a slight variation in the placement of "of" in the title and that was sufficiently 'distinctly different' (Congress didn't define distinctly different, so any difference ought to have sufficed). That's what created a so-called 4th charter note (or series of 1902 second bite if you like). Treasury also restarted the bank serial numbers back to 1. The Act of July 1, 1922 extended lifetimes of all national banks for 99 years, thereby ending the need for new series to the chagrin of this collector. One prominent Pittsburgh bank seems to have escaped a 4th charter (2d bite) plate. Maybe treasury secretary Mellon had something to do with this or Pittsburgh 6301 didn't need any new notes in the summer of '22.

Set Description:
My collection is rather limited and unfortunately, I don't have a before and after set of notes. I can't wait to delete this, but for not you have to go elsewhere to see the earlier design.



Views: 87

Signature Set Details:

Slot NameSlot CommentCertification #Note InfoCountryGradePhoto
Fort Wayne, IN First NB Ch. # 11 PMG 25 $5 1902 PB Fort Wayne, IN First NB Ch. # 11 PMG 25 $5 1902 PB Fr. 609 SN 15452/K498638H pp C/1080 dtd. May 6, 1922. PMG noted minor repairs. 8050550-064 $5 1902 Plain Back National Bank NotesUnited StatesVF 25
Bangor, PA The First NB Ch. # 2659 PMG 20 solid 8s Bangor, PA The First NB Ch. # 2659 PMG 20 solid 8s $10 1902 PB Fr. 634 SN 8888 pp B/947 Mar. 14, 1922. Bangor is the traditional center of commerce and conversation in the Slate Belt region of Northampton County, PA. Named for its sister city in Bangor, Wales, Bangor and the slate quarries within and surrounding it, were and still are known for the finest slate utilized for roofing tiles, school blackboards and artisan craft uses. 8062357-002 $10 1902 Plain Back National Bank NotesUnited StatesVF 20
Waverly, IL The First NB Ch. # 6116 Waverly, IL The First NB Ch. # 6116 Elliott | White PMG 20 $20 1902 PB Fr. 660 Elliott | White SN 5498 pp A/982 Jan. 7, 1922. The First NB printed SNs 1-9498 for 3X10-20 sheets dated 1922. Pen signatures appear on this moderately circulated Plain Back that is a so-called "Fourth Charter" note with the 1922 reorganization date and Elliott | White signatures. 8062358-015 $20 1902 Plain Back National Bank NotesUnited StatesVF 20
Berwick, PA The Berwick NB Ch. # 6162 PMG 35 $20 Berwick, PA The Berwick NB Ch. # 6162 PMG 35 $20 1902 PB Fr. 660 SN 12303 pp A/880 Feb. 27, 1922. Bold stamped bank officers' signatures of B.D. Freas, Cashier and Charles C. Evans, President are features on this bright and sharply inked $20 Plain Back from this well collected and tightly held Columbia County bank.

In 1786, Evan Owen, an Englishman, decided to settle on the land along the Susquehanna River across from the Nescopeck Creek which is now called Berwick. He had originally purchased land from William Penn in the areas from around Bloomsburg all the way to Berwick. He decided to sell his land in Bloomsburg and settled in Berwick. In 1780, he began to plot out and survey lots here. Six years later, he coaxed the first settlers, Englishmen John and Robert Brown, to move here in 1786. They called the settlement “Owensburg”; however, Owen, a humble Quaker, renamed the land “Berwick”. He named it this because the wife of one of the Brown brothers hailed from Berwick-Upon-Tweed, Northumberland County, England. 		2509182-013 $20 1902 Plain Back National Bank NotesUnited StatesVF 35
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