5076

Bank of California Exchanges & Ephemera (68015)

Currency:USD Category:Collectibles / Documents Start Price:35.00 USD Estimated At:75.00 - 140.00 USD
Bank of California Exchanges & Ephemera   (68015)
SOLD
35.00USDto j*********t+ (8.75) buyer's premium. + applicable fees & taxes.
This item SOLD at 2019 Jul 15 @ 08:29UTC-7 : PDT/MST
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Lot of 5. 1) Two exchanges: a very rare 3rd of Exchange issued in 1868 and a Second of Exchange issued in 1890. 2) 1865 letterhead that lists DO Mills as president and WC Ralston as cashier. Sent to NA Hamilton, Esq. acknowledging receipt of checks. Signed for W.C. Ralston per Hill. 3) Partial 1871 letterhead (also lists Mills and Ralston) to George Swan re: payment by the Oriental Bank Corporation. Bottom part of the document is missing. Swan was an influential railroad and toll road businessman in El Dorado County. 4) 1917 promissory note for $3,800. The Bank of California was the first commercial bank in the Western United States and a key player in the early mining operations on the Comstock Lode in Nevada. It was opened in 1864 by W.C. Ralston and DO Mills. They opened a branch in Gold Hill, Nevada and put William Sharon in charge. By offering out high-risk loans to mines and mills during the 1860s mining depression, they were able to gain control of the major mining operations until they were eventually defeated by the Bonanza Firm (Fair, Mackay, Flood, O'Brien). There was a run on the bank on Thursday, August 26, 1875. The bank failed, and Ralston was ruined. He was ousted as president. He walked to the North Beach to get away from the angry crowds and went to the Neptune Bath House. He swam out as far as he could go, and drowned. When his body was recovered, it was determined he had died of a stroke.

Date: 1865-1917
State/Country: California
City/County: San Francisco