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National Bank Notes > Minnesota

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Chisholm, First NB, M7647
Fr. 587 $5 1902RS
Grade: VF/XF    

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CHISHOLM is a city in St. Louis County in the Duluth metro area. The Chippewa called the area "meebeega"; it is roughly translated to mean "rough earth". A mining town, the area was first explored in 1892 by E.J. Longyear, inventor of the diamond drill, and for whom the lake in town is named. He founded the first mine in town, the Pillsbury. Later, Archibald Chisholm, who was living near Ely, migrated to Hibbing and founded the Chisholm mine there. He was born in Alexandria, Ontario, April 25, 1864; moved in 1894 to Hibbing, where he was a bank cashier, dealing also in real estate and mining properties. Chisolm was incorporated July 23, 1901, and burned September 5, 1908, but was soon rebuilt. The post office was established in 1901. This beauty is one of several from this community with 27 large notes reported. 14 are red seals of similar grade. Nice clear penned signature of the cashier while the presidents is faded.

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