Unique Town & Bank

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National Bank Notes > North Dakota

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Rugby, First NB, W6341 #1
Fr. 613 $10 1902RS
Grade: PMG VF 30    

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Rugby is the only town and bank to issue notes in Pierce County. You know things must have been financially challenging there as the only bank was organized on July 7, 1902 and only 563 sheets of Red Seals were printed, for a total of $18,850. The bank was placed into receivership on January 4, 1909 and in 1915 the outstanding showed only $325. This note is the 'C' position from the #1 sheet of $10-10-10-20. The signing officers were F.W. Wilder, President and Andrew H. Jones, Cashier. The population in 1900 was 487, by 1910 it was 1,620 and today it's around 2,900. Andy H. Jones former cashier of the First National Bank of Rugby, ND was found guilty in United States court on thirteen counts charging him with wrecking the bank. He was sentenced to ten years imprisonment on each count but the terms to run concurrently which will give him the distinction of serving thirteen sentences at the same time. It was figured that Andrew Jones, cashier of the defunct First National Bank of Rugby, who had disappeared and was later captured in Texas, had made over $200,000 by his sheep company financiering. In addition, he also wrote notes for companies with which he had no actual relation. For example, he issued a note for $2,500 and it appeared that Jones issued the note as treasurer of the Northwestern Land Company, although holding no such office with the company at the time. Rugby is the county seat of Pierce County with a population of 2,876 at the 2010 census; a peak population of 3,343 was reached in 1980. Rugby was founded in 1886 at a junction on the Great Northern Railway, where a branch line to Bottineau met the main line. The railroad promoters initially platted the town as Rugby Junction, getting the name Rugby from the town of Rugby, England. When the community became a city, the Junction was dropped from the name. The post office was established December 6, 1886 with Nels Jacobsen as Postmaster. Rugby incorporated as a village in 1897, and became a city in 1905 with A. H. Jones mayor. Rugby claims to be the geographic center of North America and a monument stands in the city to signify this. The monument features flags of the United States, Canada, and Mexico.

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