1557

Savings & Loan Society Installment Note, San Francisco, 1859

Currency:USD Category:Coins & Paper Money / Exonumia Start Price:60.00 USD Estimated At:120.00 - 250.00 USD
Savings & Loan Society Installment Note, San Francisco, 1859
SOLD
40.00USDto l*******r+ buyer's premium (10.00)
This item SOLD at 2018 Jun 22 @ 14:39UTC-7 : PDT/MST
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Rare. This was the first bank incorporated in California. No. 22, $52.60. Issued February 23, 1859. Signed by G.D. Street. Vignette at left of the bank (at their Clay Street location). Printed on very thin paper by Gillespie & Gray. 4.5 x 10" Horizontal fold, pinholes, some wear to edges. The bank was created in 1857 by E.W. Burr (mayor of San Francisco), Albert Miller, John Archbald, William F. Herrick, James de Fremery and Charles Pace. It was located at Simmons and Harrison, south of Market Street. They moved to Clay Street in 1860. The enterprise was successful and paid dividends for the first 6 months. It was reincorporated in 1865 and paid dividends between 10-12% for numerous years. In 1910, they merged with the San Francisco Savings Union to form the Savings Union Bank & Trust Co. Date: Location: San Francisco, California HWAC# 60418