2133

Banking House of Page & Bacon California - Duplicate Exchange - St. Louis, Missouri (123731)

Currency:USD Category:Collectibles / Mining Start Price:200.00 USD Estimated At:400.00 - 800.00 USD
SOLD
325.00USDto j******n+ buyer's premium (81.25)
This item SOLD at 2020 Dec 18 @ 10:14UTC-8 : PST/AKDT
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Dated March 29, 1855 for 10 pounds sterling to the order of Charles Parsons, Esq. sent to Messrs Fred. Huth & Co., London England. Ornate and very attractive all over design with 2 men rowing (rescue?) rowboat with woman looking at far-away steamer in bottom middle, locomotive on lower right and portrait of Daniel D. Page, founder of the bank on lower left . Light red "Duplicate" underprint in middle. Left clearly marks this as their California branch. The well-known banking firm was founded by Daniel D. Page and his son-in-law, Henry D. Bacon with their main office in St. Louis and branch offices in Sacramento and San Francisco. They had early transactions with a number of foreign banks such as the one on this exchange note. On February 17, 1855, word reached San Francisco of the failure of Page, Bacon & Company, the prestigious banking firm headquartered in St. Louis. Their San Francisco branch managed to remain open until February 22, 1855, when it was finally forced to close its doors. A financial panic and general run on all banks in California ensued and a number of banks closed their doors for good including Adams & Co. Page & Bacon survived the liquidity crisis

Date: 1855
Country (if not USA):
State: California
City: San Francisco
Provenance:

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