#1 Red Seal Rolette Ch. UNC 64

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National Bank Notes > North Dakota

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Rolette, First NB, W7866 #1
Fr. 614 $10 1902RS
Grade: PMG Ch. UNC 64    

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Rolette is located along the top tier of North Dakota counties that border Canada. The First National Bank was organized on November 23, 1905 and began issuing Red Seals, 520 sheets to be exact. This jewel is the #1 'B' position from the first sheet printed. A total of 2,525 sheets were printed, with a single Blue Seal known as well. The bank was placed into receivership on February 19, 1927. This note has the utmost quality, other than a tiny nick in the lower margin, mentioned for accuracy. Lovely signatures of Clarence C. Dinehart, President and Marion Edwards, Cashier. PMG notes: small tear. Marion Edwards was born in Knoxville, IA, Dec. 10, 1871. He engaged in farming in Iowa but in the spring of 1902 removed to Rolla, ND, where he established the State Bank of Rolla, which he conducted for two years. He afterward became proprietor of a country store at Fisher, and with the establishment of the town of Rolette he took up his abode there and in August 1905, helped to organize the First National Bank. He became cashier of the institution and was cashier and president for some time. On the 5th of October 1915, he was appointed postmaster of Rolette. Rolette is located in Rolette County in north-central North Dakota; the population was 594 at the 2010 census. Founded in 1905 at the junction of the Great Northern Railroad and the Soo Line Railroad, the city was named for the county, which was named for Joseph Rolette, a pioneer and fur trader. The post office was established July 10, 1905 with Albert E. Hurst as Postmaster. The village, which incorporated in 1930, reached a peak population of 704 in 1970.

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