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National Bank Notes > North Dakota

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Lisbon, First NB, 3669
Fr. 669 $50 1902DB
Grade: PMG VF 30 Net    

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This bank was organized on March 30, 1887 but there are no known Territorial notes. The bank has six large notes reported, including this $50, which is the only $50 1902 Date Back known from the entire state. A lovely, pen signed note that is net graded for a closed pinhole that is very minimal. Signing officers were Rush S. Adams, President and Harry E. Schaaf, Cashier. PMG notes: closed pinholes. Rush S. Adams was born near Union Grove, Wis., on the 18th of November, 1854. He entered the employ of the rm of J. Miller & Company, boot and shoe manufacturers of Racine, Wis., in the capacity of bookkeeper. In 1875 he became a member of the rm, with which he was actively associated until 1883, when he sold his interest in the business and came to North Dakota, settling in Lisbon. There, in company with B. M. Frees, of Chicago, and his cousin Henry K. Adams, he organized the Ransom County Bank. He became president of the institution, with Mr. Frees as the vice president and H. K. Adams as the cashier. In 1887 the bank was nationalized with the same officers and there was no change in the personnel from 1883 until 1915. On the 1st of January of the latter year H. K. Adams retired and his son, W. S. Adams, succeeded him in the position of cashier. Mr. Adams served as a member of the state board of pardons, and treasurer of the State Soldiers Home. He was mayor of Lisbon for one year and served for several years as a member of the board of education, of which for two years he was president. Lisbon is the county seat of Ransom County. The population was 2,154 at the 2010 census. Lisbon was founded on September 25, 1880 by Joseph Colton, who was the first to homestead the area. Colton named the town Lisbon, after Lisbon, New York, his wife's hometown. Colton became the first postmaster when Post Office was established on January 2, 1880. He was also the first chairman of the school board, the first county clerk and the first county register of deeds. The new townsite was platted on both sides of the Sheyenne River. Lisbon became the county seat in 1881, and the Northern Pacific Railroad reached the site in 1882. It incorporated as a city in 1883 with G. B. Green mayor. Mr. Green defeated Mr. Colton for this honor, after which Mr. Colton moved to Ward County and founded the new townsite of Burlington. The peak population of 2,286 was reached in 1980 as the city has maintained a steady growth since its founding. The North Dakota Soldiers Home was built here in 1891.

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