Lot 2546
CA, Whittier, 1882, $5.00, Brown Back, The First National Bank of. . Fr-6021. Charter 5588. Fr. 477. When it comes to California Brown Backs, San Francisco and Los Angeles make up about 98% of the known notes for the state. Very few national banks outside of the Los Angeles area were even organized. Some did issue Brown Backs; including Fullerton, Santa Ana, Long Beach, Covina, Monrovia, Pasadena, and Pomona. All Brown Backs known from these places are tightly held and rarely become available to the collectors. Sixteen notes are reported and only 3 of them are Brown Back $5.00's. This note is a California "trophy note," worthy of the finest collection and is the finest note on this bank. Signed by F.W. Hadley, assistant cashier and W. Hadley, president. From the Hadley Estate. Choice Uncirculated.
The First National Bank was originally The Bank of Whittier and was incorporated on November 26, 1894. J.M.C. Marble was president of the bank and Washington Hadley was cashier. A few years later, Washington Hadley was elevated to the presidency of this institution and of The First National Bank of Whittier. Washington Hadley remained president of the latter until he reached the advanced age of ninety-two years, earning for himself the reputation of being the oldest bank president in the United States. He died, December 21, 1911 at the age of ninety-four.
Estimated Value $2,500 - 5,000.
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| Realized $4,600 |
