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National Bank Notes > North Dakota

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New Salem, First NB, W6428
Fr. 650 $20 1902PB
Grade: PMG VF 30    

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Here is a beautiful note from this one-bank town in Morton County. The bank was chartered in September 1902 and issued 2,361 sheets of large size notes before being liquidated on June 11, 1919. The only other known example of this charter was a VG/Fine that sold for $3,737 in January 2009. Banks like this are the most desirable because the issue was small and they went out early; and this example has the exception of being gorgeous as well. Pen signed by Charles F. Kellogg, President and J. Henry Kling, Cashier. Acquired from Bert Harsche, Antique & Coin Exchange, Bismarck. Charles F. Kellogg, cashier of the First National Bank of New Salem, was born in Allen county, Kansas, October 9, 1873. Graduating from the law department of the University of Iowa he spent a period of time teaching school in Illinois. He was in the grain and stock business and managed an elevator. He lived in Glen Ullin after becoming a resident of North Dakota and then went to New Salem to assume the position of cashier of the First National Bank. New Salem is located in Morton County in the Bismarck metro area. The population was 946 at the 2010 census. New Salem was founded in 1883 as Salem, but almost immediately changed its name to New Salem to avoid duplication with a Salem that is now in South Dakota. The first settlers were German Lutherans sponsored by a church group in Chicago, Illinois, and the second wave of settlers were German nationals from South Russia. The post office was established August 24, 1883 with Arthur V. Schallern as Postmaster. The city, which incorporated in 1911, reached a peak population of 1,082 in 1980. New Salem is home to the Morton County fair and is also home to Salem Sue, 'The World's Largest Holstein Cow'. This 38-foot-high fiberglass landmark was built in 1974 as a tribute to the local dairy farmers.

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