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National Bank Notes > North Dakota

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Wahpeton, Territory of Dakota, First NB, 2624
Fr. 420 $10 1875
Grade: PMG VF 25 Net    

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This was one of the Territory's earliest banks; organized on February 2, 1882. They chose to issue 1,038 sheets of $5, $10 and $20 1875 First Charters. Barely four years later the bank was placed into receivership on April 8, 1886. By 1915 the large outstanding was listed at $230. There are two unknown banks that went out of business even earlier than this charter. The First National Bank of Grands Forks liquidated on December 2, 1884 and the First National Bank of Jamestown went into receivership on September 13, 1884. This note has excellent color and is evenly circulated with a couple of minor pinholes. The centering is excellent as well. It's a very desirable VF 25 Net; graded 'net' for a stain that I can't really see, but we don't all see things the same. The note carries impressive pen signatures of J.W. Hayward, Vice President and Allan Johnston Goodhue, Cashier. This note was hidden in a book. Several boxes of books were purchased at an estate sale in Wahpeton. A few years later the purchaser was going through the books and discovered this incredible piece of history. Believe it or not, there is another nearly worn out $10 Territorial on this bank. J.W. Hayward came to North Dakota with his parents from Ohio in 1881. He was elected President of the Board of the city in 1883, shortly after Wahpeton was incorporated and became the vice president of the First National Bank. Allan Johnston Goodhue, was born at Akron, Ohio, on July 18, 1844, and at the age of 18 enlisted in the Union army, serving three years. At the close of the Civil War he entered the banking business at Akron and continued in that vocation for five years. From Akron he went to Rochester, N.Y., where for seven years he was engaged in the shoe manufacturing business. Subsequently he engaged in banking in North Dakota for four years, following which he entered the cast-iron pipe business for a career of 34 years until his retirement. Wahpeton is on the Red River of the North, near the Minnesota border. It is the county seat of Richland County and had a population of 7,766 at the 2010 census. Wahpeton was founded in 1869; the first settler was Morgan T. Rich. When other settlers arrived, they formed a tiny community and named it Richville, commemorating both its founder and the fertile quality of the soil. In 1871, a post office was opened. At the same time, the town's name was changed to Chahinkapa, an Indian name meaning "the end of the woods." Two years later, the county was organized and called Chahinkapa County. Later that year the county was renamed Richland County and the town of Chahinkapa renamed Wahpeton, an adaptation of the Dakota name of the local population of Dakota Indians, the Wakhpetonwan. Positioned next to the Red River in the city of Wahpeton is "Wahpper", the World's Largest Catfish. Measuring in at 40 feet in length, 12 feet tall, and 5,000 pounds, "Wahpper" was constructed to call attention to the excellent fishing in the Red River. Some even call Wahpeton "The Catfish Capital of the North". The local Bois de Sioux Golf Course is the only golf course in the United States with half the course is in one state and half in another.

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