50 Dollars New England Commercial Bank - Rhode Island
© Mattsman60
Features
| Issuer |
United States
 |
|---|---|
| Issuing bank | New England Commercial Bank |
| Period |
Federal republic (1776-date)
|
| Type | Local banknotes |
| Years | 1830-1849 |
| Value | 50 Dollars (50 USD) |
| Currency | Dollar (1785-date) |
| Composition | Paper |
| Size | 175 × 75 mm |
| Shape | Rectangular |
| Number | N# 411981 |
| References | Haxbyl# RI155-G94 James A. Haxby; 1988. Standard Catalog Of United States Obsolete Bank Notes (1782-1866). Krause Publications (4 volumes). |
Obverse
Left side (2) 50 dollar motifs, Center top block with 50 spelled out, Right side top circular motif with 50 in center. Right side horizonal circular motifs and FIFTY in center.
Scripts: Latin, Latin (cursive)
Lettering:
50 FIFTY DOLLARS 50
THE PRESIDENT, DIRECTORS & CO., OF
THE NEW ENGLAND COMMERCIAL BANK
promise to pay FIFTY DOLLARS to
or bearer on demand NEWPORT____18___
New England Bank Note Co.
50 RHODE ISLAND
Reverse
Blank.
Printer
American Banknote Corporation (American Bank Note Company), United States (1795-date)Comments
Established February, 1818 with William Ennis as president, W.T. Dellingham, cashier. It remained a state-chartered bank until its closure. On February 12, 1914, the New York Times noted: “Stockholders of the New England Commercial Bank to-day voted to approve the recommendation of the trustees to liquidate and to accept the Newport Trust Company as liquidating agent, subject to the approval of the State Bank Examiners.
“The bank was organized in 1818 and has done a flourishing business. Recently two of its leading officials died- William J. Vanderwood*, for many years its cashier, and Capt. Joseph Cotton*, a trustee. The institution is solvent, and the shares are at $50. The book value of the shares is $53. “Article 12 of the bank’s by-laws provides that no Director of any other bank shall be Director of the New England Commercial. No stockholder was allowed to hold more than 100 shares.” — “Newport Bank to Close,” New York Times, February 12, 1914.
See also
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| Date | VG | F | VF | XF | AU | UNC | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Undetermined | |||||||||||||||
| ND (1830-1849) | Remainder | ||||||||||||||
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Numista Rarity index: 95
This index is based on the data of Numista members collections. It ranges from 0 to 100, 0 meaning a very common coin or banknote and 100 meaning a rare coin or banknote among Numista members.
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