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National Bank Notes > Kansas

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Topeka, Kansas Valley NB, 1660
Fr. 380 $1 Original
Grade: VF Net    

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This bank was chartered in August 1866 and was known as Daniel Adams' bank as he was the president. His signature appears on the $1 First Charters along with Charles G. Rix as cashier. The bank changed its name to the First National Bank of Topeka in July 1873 and failed six months later in December. Adams had invested the bank's funds in crops which were devastated in the drought and grasshopper plague of 1873. This was the first bank chartered in the state capital and its failure related directly to the state's main economy - wheat. This note appears to be a lovely example of this charter but the note has had extensive imperfection restoration along the top margin and mostly the right end. Had I had this note earlier I would have had a proper restoration performed. This note last appeared in 2009 where it realized $4,878. Today, if restored, my estimate would be $10,000/15,000, but it isn't.

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