 UTAH. Bingham Canyon & Camp Floyd R.R. Co., payable at the Salt Lake City National Bank of Utah. $2.00 Post Note. No.14. Plate position B. Salt Lake City. January 15, 1874. Remainder note, unissued. Printed on both sides on bond paper by H. Siebert & Bros. 182 William St. New York. The style is identical to the $1.00 note with the face having an encircled vignette of a train rounding a curve with a telegraph line in the foreground, flanked by red protector '2' and gray 'TWO'. Red protector grill across the signatures. At the left is an Indian standing and at the right is Athena standing. Text designation engraved '__days after date will pay to the order of W.B. Welles Treas'r. or Bearer'. The back is green with female portraits in all four corners and 'Redeemable/ at the/ SALT LAKE CITY/ NATIONAL BANK/UTAH'. Rust Figure 130 (page 117). Similar to the unissued 'B' position note in the Henry Clifford sale in 1982 (lot 337). A rare series in unissued and issued form. Several folds and handling, but nearly Very Fine. Attractive color on both sides.
Ex Lester Merkin, August 26, 1959.
These were bank note sized scrip issued by the railroad simultaneously with the First Charter notes of the Deseret National Bank and this bank. They were payable several days after the engraved date of issue and probably were issued in a limited amount due to the rarity of fully issued notes known today. The Salt Lake City National Bank, Charter #1921, was capitalized with $100,000 in 1872. By 1876 it was voluntarily liquidated and eventually all the obligations of the bank were paid off.
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