NOT SOLD (BIDDING OVER)
0.00USD+ applicable fees & taxes.
This item WAS NOT SOLD. Auction date was 2022 Dec 03 @ 10:00UTC-8 : PST/AKDT
SHIPPING & HANDLING: The customer is responsible for all shipping and packaging charges. We offer shipping service as a convenience to our buyers. Items are not shipped until the invoice and shipping charges are completely paid. Shipping costs will be calculated and billed separately after your items have been paid for. Purchases will be shipped via our approved, insured carriers: FedEx, UPS, USPS or DHL. Pick up is available from our Reno office, once you have received your invoice post auction
Extremely rare and very historically important. No. 7. Dateline Washington City, May 9, 1860 (just a month after the first Pony Express trip). $10,000, to be paid in 130 days, for value received at the Bank of the Republic in New York City and charge to account of our transportation contract of the 12th day of April 1860. Signed Russel Major Waddell. Addressed to Hon. JB Floyd. Signed on the back by Russel, Major & Waddell. Also signed by Samuel Allen. Red ink on front says "War Department, May 9 1860 accepted. John B. Floyd. Secretary of War. Endorsed Russel Major Waddell. Samuel Allen." 5.5 x 8" Folds, ink stains on reverse.
John B. Floyd was the 31st governor of Virginia (1849-52), Secretary of War under President Buchanan (1857-60), and a Confederate General in the Civil War. He died in 1863. His time as Secretary of War was fraught with scandal. To start, he was part of the bungled Utah Expedition in 1857. Floyd was also implicated in the scandal of the "Abstracted Indian Bonds", which surfaced at the end of the Buchanan administration in 1860. Floyd's wife's nephew, Godard Bailey, worked in the Interior Department and removed bonds from the Indian Agency safe during 1860.
Among the recipients of the money were... Russell, Majors, and Waddell, a government contractor that held, among its contracts, the Pony Express. The War Department owed the Pony Express's parent company money for transporting military supplies. Congress hadn't appropriated the funds yet, but Floyd illegally gave Russell and his partners a written assurance of future payment. Russell used the document as collateral to get short-term bank loans. Our note here is a direct link to that scandal!
In December 1860, after learning that Floyd had honored heavy drafts made by government contractors in anticipation of their earnings, President Buchanan requested his resignation. Several days later, Floyd was indicted for malversation in office, although the indictment was overruled in 1861 on technical grounds. No proof was found that he profited by these irregular transactions. Russell was also forced to resign as president of the Pony Express.
After leaving his post, Floyd is suspected of aiding the South as the Civil War was about to begin. Ulysses S. Grant stated in his memoir: "Floyd, the Secretary of War, scattered the army so that much of it could be captured when hostilities should commence, and distributed the cannon and small arms from Northern arsenals throughout the South so as to be on hand when treason wanted them."
Freighters William Russell, Alexander Majors, and William B. Waddell were the three founders of the Pony Express. Under charter from the Kansas legislature, the Central Overland California and Pikes Peak Express Company started the Pony Express which began operations on April 3, 1860. By utilizing a short route and using mounted riders rather than traditional stagecoaches, they established a fast mail service between St. Joseph, Missouri, and Sacramento, California, with letters delivered in 10 days. The company only lasted 18 months.
Frajola notes that the first Eastbound and Westbound trips (SF to St. Joseph and vice-versa) took place April 3, 1860 to April 13, 1860. Does our note here (noting April 12th transportation contract) reference this first trip? Perhaps. In any case, its ties to Floyd and the Indian Bond Scandal make it an extremely important Pony Express document.
Date: 1860
Country (if not USA):
State: Washington, D.C.
City:
Provenance:
Auction Location:
3555 Airway Drive Suite 309, Reno, Nevada, 89511, United States
Previewing Details:
PREVIEW:
Friday, December 2 at the Reno Convention Center. Open House from 10am-6pm.
Hors d’oeuvres and refreshments served from 12pm on.
Nevada State Sales Tax
Taxes:
| Tax | Rate | Desc. |
| NSST |
8.375% |
Nevada Sales Tax |
| CSST |
8% |
California Sales Tax |
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
20% |
Additional Fees:
Shipping Details:
SHIPPING & HANDLING: The customer is responsible for all shipping and packaging charges. We offer shipping service as a convenience to our buyers. Items are not shipped until the invoice and shipping charges are completely paid. Shipping costs will be calculated and billed separately after your items have been paid for. Purchases will be shipped via our approved, insured carriers: FedEx, UPS, USPS or DHL. Pick up is available from our Reno office, once you have received your invoice post auction, with 24 hours notice given to HWAC prior to pick-up.
Payment Details:
Due on receipt of invoice.
Accepted Payment Methods:
- VISA
- Master Card
- AMEX
- Discover
- Money Order/Bank Draft
- Check/Cheque
- COD (cash on delivery)
- PayPal
- Wire Transfer
Terms & Conditions
S.S. Central America
This is a Live Auction conducted by Holabird Western Americana Collections, LLC (HWAC).
1. TERMS and CONDITIONS ACCEPTANCE: THE PLACING OF A BID SHALL CONSTITUTE THE BIDDER’S ACCEPTANCE OF THESE TERMS OF SALE.
2. BUYER’S PREMIUM: There will be a 20% Buyer’s Premium add- ed to the sale price (hammer) of all lots sold in this auction, including NUMISMATICS.
3. SALES TAX: Sales tax may be applied to your purchases accord- ing to individual states’ current tax laws regarding Internet sales. In some cases, the sales tax is applied and collected by the Internet auc- tion platform and remitted by them to the appropriate tax jurisdiction. Please check your state’s tax regulations. HWAC will charge sales tax for those states that we know have instituted Internet sales tax and is not collected by the Internet platform. All bonafide resale dealers with a current valid resale license must submit their license in advance to HWAC or Live Auctioneers. Sales tax will be charged unless that certificate is current. Nevada Sales Tax will be charged if you pick items up at the auction.
4. SHIPPING & HANDLING: The customer is responsible for all shipping and packaging charges. We offer in-house shipping service as a convenience to our buyers. Items are not shipped until the auction invoice, including buyer’s premium and applicable tax- es, and shipping charges are completely paid. Shipping costs will be calculated and billed separately after your items have been paid for. Purchases will be shipped via our approved, insured carriers: FedEx, UPS, USPS, or DHL. Customers are always welcome to arrange for their own shipping. On-site pick up may be available Sunday, Decem- ber 4, 2022, or from our Reno office, starting December 6, 2022, once you have received and paid your post-auction invoice. Please call 24 hours in advance to schedule your pickup date and time. We encour- age you to pick up your items in person because of the fragile nature of the items involved.
5. LIVE (FLOOR) BIDDING: Please arrive early to check in and receive your bidding paddle. Live bidding for lots with more than one bid will open at the current high absentee bid, or 50% of the low esti- mate, or an amount set the Auctioneer’s discretion. Please be sure to bid on the correct lots during the live auction. Our auction progresses at a rate between 50 and 150 lots per hour. An item is not sold until the next lot is announced. (We are not responsible for Internet bids that arrive late.) The Auctioneer will identify the successful bidder by number and announce the winning bid amount. If you are not sure whether you won the lot or not, it is your responsibility to ask for clarification immediately prior to the start of the next auction lot. Auc- tioneer reserves the right to reopen the lot in the case of an immediate dispute at the actual time of the sale. In all cases, it is the Auctioneer who determines the winning bid.
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we may be unable to accommodate your request to bid by telephone. We discourage phone bidding on lots less than $500 or on multiple lots that do not accumulate to $500, as this ties up valuable staff time during the auction.
7. LIVE AUCTION ABSENTEE BIDDING: Absentee Bids for the live auction sent to HWAC by surface mail, FAX, e-mail, or delivered in person MUST be received by 5 p.m. Pacific Time the day before the auction. Bids accepted after the cutoff time will be represented live only if an agent is available and will not be considered absentee or given priority as such. It is the bidder’s responsibility to submit all lot numbers and bid amounts accurately. Absentee Bids MUST be equal to at least 50% of the low estimate if an estimate is provided. Bids on “No Lots” or “Withdrawn” Lots will not be executed. Bids made in amounts that do not conform to the Bid Increment Table under Sec- tion 13 will be automatically rounded up or down by the computer or rounded to the nearest proper bid increment at the discretion of the Auctioneer. Absentee Bids are entered into a computer that will bid live on your behalf at the auction. Absentee Bids will compete live against other Absentee Bids, live Internet bidders, floor bidders, and phone bidders.
8. INTERNET BIDDING, REGISTRATION: Internet bidding on multiple online auction platforms is offered as a convenience for those who cannot attend the live sale. Both Absentee and Live Inter- net bidding are available through our live auction networks. Please note that there may be delays or interruptions in Internet connectivity that are beyond our control. Attending the live auction or arranging for an agent is the most reliable way to secure your bids. If there is a tie between a live bid and an absentee bid, priority will be given to the absentee bidder. If you wish to bid LIVE via the Internet, you MUST pre-register on your platform of choice. A live feed is generally accessible during the auction from one or more of the Internet auc- tion platforms. Online bidding remains open through the live auction, and online Absentee Bids may be placed anytime. Please be aware that some auction platforms charge a premium for their services, for which we are not responsible. iCollector does not charge an extra fee to buyers.
9. NEW BIDDERS: Bidders unknown to us, who anticipate an expenditure in excess of $20,000, must provide commercial referenc- es or a deposit of 25% of the amount to be bid in order for the auction staff to execute bids. Deposits will be credited towards lots won and any balance will be refunded within 10 business days after the auction has concluded. New bidders will be given a spending limit at their ini- tial request to participate. To increase this limit, you may be required to provide a letter of authorization from your bank in addition to pro- viding references. Please contact our office at any time if you have questions regarding spending limits or references required to bid.
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the office for a list or to arrange for representation on the floor during the live auction. HWAC is not responsible for any acts or omissions by agents acting on behalf of bidders at our auctions.
11. BE ADVISED: Auction participation through the live Internet bid- ding site is not 100% foolproof. The technology for this process is always changing, and the operation of it and the corresponding Inter- net connectivity issues are far beyond our control. Some folks have attempted to use the live Internet bidding process as their primary method of bidding and have been quite successful. Others have failed completely. Depending upon your computer, server, host, and other factors, Internet signals may be delayed, such that bids may not be received in time. HWAC cannot be held responsible for these delays, or for the lack of placed bids in a timely manner, or any other factors leading to unaccepted bids that are far beyond our control. Bidders should always have a backup plan for lots they highly desire. Live par- ticipation is best, followed by phone participation. We will not reopen lots for missed bids. In all cases, it is the Auctioneer who determines the winning bid.
12. RESERVES: Most of the lots in this auction are unreserved. Pre- cious metals may be reserved at, near, or slightly below spot, at the Auctioneer’s discretion.
13. BIDDING INCREMENTS: All bids must be submitted in whole U.S. dollar amounts and only in the appropriate increments as out- lined in this Section. If you choose to submit bids in an increment not listed below, your bid will be rounded to the nearest increment, and you will be expected to pay the amount to which the bid was rounded should your bid be the winning bid. If you have any questions about an appropriate bid amount, please call us.
From
$10 $100 $200 $500 $1,500 $3,500 $10,000 $30,000 $50,000
To
Increment
$95 $5 $190 $10 $475 $25
$1,450 $50 $3,400 $100 $9,750 $250
$29,500 $500
$49,000 and up
$1,000 $2,000
14.AUTOMATIC INCREMENTAL BIDDING: Absentee Bids automatically increase above the highest competing bid by the increments posted in Section 13 up to the maximum bid requested
Page 2
The Ship of Gold
Terms & Conditions
This is a Live Auction conducted by Holabird Western Americana Collections, LLC (HWAC).
by the absentee bidder. If the highest competing bid is the same as the Absentee bidder’s maximum bid, the increment cannot be applied, and the competing bid will prevail. Often there can be three or more bidders with the exact same bid amount. The Auctioneer will call for a tie-breaking bid, and if one does not come, the Auctioneer will award the lot randomly. All winning Absentee Bids will be reduced, if neces- sary, to the next bidding increment up from the last competing bid, as long as the minimum bid requirement has been met. For example, if an Absentee bidder submits a maximum bid of $1000 and the next highest competing bid is $250, then the Absentee bidder will win the lot for $275, provided that no other competing bids are received while that lot is open for bidding.
15. BID INFORMATION: Collectors often ask in advance the cur- rent bid amount of a particular lot. We will give out the current com- petitive high absentee bid amount until we close the day before the live auction. You may also view Absentee Bids online at www.hola- birdamericana.com. While we work to update the Absentee Bids as often as necessary, bids received close to the bidding deadline might not be reflected online, and we disclaim any responsibility for any bids made in reliance upon inaccuracies on our website, which may be beyond our control. We do not own any of the live Internet bidding platforms, and thus many aspects of the Internet technology are out of our control.
16. BID CANCELLATION: If you wish to cancel or change a bid after you have submitted your bids to us due to an error, you MUST PHONE us to advise us of this. If you use Live Auctioneers or Invalu- able, you must contact them directly, as we do not have access to cancel bids. Bid cancellations through mail, email, or faxes are not advisable. Errors are easy to make. Please call us if you have any questions on this.
17. FINANCIAL ANTIQUITIES: All stock certificates, checks, warrants, and other financial documents sold herein are sold as antiquities, and have no financial, securities, or public trading value whatsoever.
18. BID REJECTION – BAD FAITH: We reserve the right to reject any bid we feel is not made in good faith.
19. INVOICING: Invoices for auction winnings including hammer price, buyer’s premium, and applicable taxes are mailed or emailed within two business days after the close of all portions of the sale. Payment is due in full to Holabird Western Americana Collections within 15 calendar days of receipt of invoice. Payments made by check or money order are to be sent to 3555 Airway Dr., #308, Reno, NV 89511. Late fees may be added if payment arrangements are not made within those 15 days.
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Cash received in amounts greater than $10,000 is subject to the filing requirements of the FinCEN Anti-Money Laundering Regulations as set forth by the Anti-Money Laundering Act of 2020.
21.AUTOMATIC CREDIT CARD BILLING: Internet bidders are required to provide credit card information in order to bid in the auction. PLEASE NOTE, this implies the bidder’s approval and autho- rization to use that credit card for payment for lots purchased by the bidder during the auction. Some Internet platforms will charge that credit card automatically or allows HWAC to charge your credit card for the invoiced amount. If payment, or payment arrangements, are not received within the stated 15-day period, YOUR CREDIT CARD MAY BE CHARGED. In all cases, we attempt to contact our customers, who have not made arrangements for payment prior to charging their credit card.
22. NON-PAYMENT: HWAC reserves the right to cancel any invoice not paid in full within 15 days. A cancelled invoice does not relieve the bidder from their obligation to pay seller fees and buyer’s premiums compensating HWAC for its services in conducting the auction. Inter- est shall run on all outstanding balances at the highest rate permitted by law. HWAC shall have a lien against the merchandise purchased by the bidder, and any other of bidder’s property then held by HWAC or its affiliates, to secure payment of the invoice, and with respect thereto HWAC shall have all the rights of a secured creditor under the Nevada Commercial Code, including but not limited to the right of sale. HWAC may sell the lot(s) securing the invoice to any under bidders in the auction that the lot(s) appeared, or at subsequent pri- vate or public sale, or relist the lot(s) in a future auction conducted by HWAC. A defaulting bidder agrees to pay for the reasonable costs of resale (including a 10% seller’s commission, if consigned to an auction conducted by HWAC). The defaulting bidder is liable to pay any difference between his or her total original invoice for the lot(s), plus any applicable interest, and the net proceeds for the lot(s) if sold at private sale or the subsequent hammer price of the lot(s) less the 10% seller’s commissions, if sold at an HWAC auction. If HWAC refers any invoice to an attorney for collection, the bidder agrees to pay attorney’s fees, court costs, and other collection costs incurred by HWAC. Any bidder who fails to follow the terms and conditions of the auction or of payment will be reported to iCollector, Live Auctioneers, Invaluable, or other applicable bidding platform, and may be barred from participating in future Holabird Western Americana Collections auctions.
23. LOT CONDITION: We strongly recommend that you attend the live preview to see lots in their entirety. Conditions are not always noted, and large lots may not be itemized due to catalog restraints. For questions, detailed information, or additional images of any lot, please contact our office at 775-851-1859. Bidders are responsible for understanding the condition of items. Conditions noted are subjec- tive and may differ person to person. High resolution images of all
items are available online for inspection. HWAC is not responsible for condition discrepancies; it is the bidder’s responsibility to determine condition prior to bidding. All sales are “where is as is.”
24. RETURN POLICY: All items are guaranteed to be authentic unless otherwise noted. If authenticity is challenged, please call our office for assistance. ALL SALES ARE FINAL. You may only return any piece that was significantly inaccurately described by calling our office within 10 days of receipt of item(s) and notifying us of the error and reason for return. We do not refund postage or insurance. Please call us if you require a more specific condition report. Any items that are returned must be returned in the same exact, unaltered condition in which they were shipped. When we receive your bids, we will assume you have read the item description in the catalog, viewed the available image(s) of the item, have contacted us regarding any questions you may have on any lot and/or have previewed the lot in person.
25. JURISDICTION: This sale is being held under the laws of the State of Nevada.
26. BIDDER RESPONSIBILITY: HWAC shall not be held respon- sible for any problem due to the bidder’s failure to follow the rules, terms, and conditions of this sale, or any failure to bid due to the loss of the online auction process provided by any of the online auction networks, or any missed, changed, or cancelled bids due the bidder’s failure to follow the proper bidding procedure outlined herein.
27. ACCEPTANCE: By placing a bid or otherwise participating in the auction, Bidder accepts these Terms and Conditions, and specifi- cally agrees to the dispute resolution provided herein.
28. DAMAGES: HWAC shall not be responsible for consequential damages, incidental damages, compensatory damages, or any other damages arising or claimed to be arising from the auction on any lot. Bidder’s sole remedy for any proven act or omission shall be rescis- sion of sale and refund of the amount paid by Bidder.
29. DISPUTE RESOLUTION; WAIVER: Any claim, dispute, or controversy in connection with, relating to, and/or arising out of the Auction, participation in the Auction, award of lots, damages of claims to lots, descriptions, condition reports, provenance, estimates, return and warranty rights, any interpretation of these Terms and Condi- tions, any alleged verbal modification of these Terms and Conditions and/or any purported settlement shall be exclusively heard by, and the parties consent to exclusive in personal jurisdiction of, the Superior Court of Washoe County, Nevada. The parties expressly waive any right to trial by jury. Any claim must be brought within one (1) year of the auction from which the claim arose, or the claim is waived. In every case, the prevailing party shall be entitled to an award of its attorney’s fees and costs.