Thursday, June 9, 2011

St. Louis Southwestern Railway and Adams Express

I haven't started to understand what is happening with these and the Adams Express use of St. Louis Southwestern Railway printed cancels.  But I do understand the Ebay bargain these represent.  A few weeks ago these items presented in a lot of seemingly inconsequential value to collectors.  The printed cancels were hard to see in the lot photo and unmentioned in the description.  The lot went for less than $20.

The group of documents is remarkable.  Each contains a scarce St. Louis Southwestern printed cancel, on an Adams Express document, and further cancelled with an Adams Ex handstamp. 

The consignments do not appear to have ever been carried on the StLSW, as they were received in St. Louis and marked to go to Philadelphia or Richmond.  More on these in a later post...






Varnish

It's an interesting challenge to try to illustrate the square of varnish on R194 and its siblings, but here's a go at it.

The varnish square is roughly 15 mm on a side, and can be seen easily when holding the stamp at an angle to the light. On the one below, it shows up (at least on my monitor) as a yellowish tint on the stamp.



Although I didn't manage to make the outline quite square, here is where to look for it on the copy above.

Tuesday, June 7, 2011

Whither Varnish?


Several days ago, in this post, I wrote about the varnish square said by Scott to have been placed on some of the green commerce dollar revenues.  I asked if anyone has ever tested the stamps with UV or some other kind of light to see if the varnish shows up.  Dave Thompson did a bit of experimenting at home:

Nothing to report on trying to detect evidence of Varnish Square on the Commerce Dollar Revenue Stamps, also no results found there was evidence that a varish square had existed.

But I only had used stamps to test on, perhaps some of your super rich guys have Mint Never Hinged single, blocks or sheets laying around of say the R194 you could check these out for the rest of us.
  • I tried Short and Long Wave UV light.
  • Strong light at sharp angles front and back of each stamp.
  • Even tried watermarking them front and back.  (They all had sideways watermarks)
*****

Now while Dave might have an issue with not having sheets of mint copies of R194 to test with his highly sophisticated lamps, he did run the stamps he had under the light and found nothing.  So soaking must have removed any trace of varnish from his stamps, with no residue remaining.  This seems strange to me.  Anybody have a few mint stamps to test?

Monday, June 6, 2011

R192 Color Changelings?

Following my post from this past week on the so-called varnish square on the green dollar commerce stamps, Dave Thompson sent in a scan of the $2 dollar stamp below.  The stamp has the surcharged numeral of R191, but the stamp is not green.  The color is more like that of R185, the $2 gray.  The varnish square,or the lack of it, is not the issue here.  The big question here is one of color.  How did this stamp get this way?  I might have dismissed Dave's stamp as a one-off chemically induced changeling, with little philatelic significance.  But then I recalled that I might have a similar stamp in my own collection.

Dave Thompson's R191

My R191:


My stamp clearly had the varnish spot.  It appears Dave's did not.  But why are these stamps this color?  I never gave too much thought to the stamp above; it has been in my collection for years.  But now that there are two, this is a bigger deal begging for an answer.

Sunday, June 5, 2011

Cancel for June 6: A. Knabb & Company


A. K. & Co.
JUN
6
1899

From the Official Railway Equipment Register of 1901:


 
A. Knabb & Company was a cooperage business established in Warren, Pennsylvania during the Pennsylvania oil boom.  The company manufactured staves for oil barrels, and became involved in the general lumber business in Pennsylvania and Maryland.  The business was large enough to require their own railroad rolling stock to move raw timber and finished products.


Samuel T. Pees documents this rail car as likely that of A. Knabb & Company.  Empty barrels are triple racked for transport from the cooperage to the buyer.

The Official Railway Equipment Register


 
A most useful tool for understanding the railroad business at the beginning of the 20th century, The Official Railway Equipment Register has been essential in decoding and understanding many of the firms that cancelled stamps in the 2ct documentary calendar featured on this site.  The document is available online and can be downloaded, and its age means that the content is out of copyright. 

Every generation of US government issued revenue stamps has its own tools for understanding the businesses that were the major users of the tax stamps.  By 1898, the railroad business in the United States was gigantic, and a major source for growth and facilitator of the economic and physical expansion of the United States.  The Official Railway Equipment Register and Poor's Manual are essential items for the 1898 documentary stamp collector.

Saturday, June 4, 2011

Auctions: Siegel June 21-24 Sale with Set of Battleship Proprietary Part Sheets


Lot 951 listed for $36,716.05

The upcoming Robert Siegel sale June 21-24 includes lot 951, described as:

 "Twelve items, including sheets of ten of the twelve denominations, others include No. RB26 block of 128 with single imprint and plate no. at lower right and No. RB29 block of 108 and rouletted 5 1/2 without imprint or plate no., all others with imprint and plate nos. at left and right, few imperfections to be exptected in so many large multiples including few perf separations sensibly reinforced or rejoined.

FINE-VERY FINE.  A RARE AND DESIRABLE ASSEMBLAGE OF MULTIPLES CONTAINING PANES OF 100 OF TEN OF THE TWELVE DEONOMINATIONS OF THE 1898 BATTLESHIP PROPRIETARY ISSUE.

Scott retail as blocks of four, singles, and plate blocks (where listed) for the panes, and as blocks and singles for the blocks of 108.  Plate blocks are listed but unpriced in Scott for Nos. RB 27, RB29, RB30, and RB31."

*****

Any takers for this pricey set of unused proprietaries?  Given the value of this lot, I am a bit surprised by the imprecision of the description of the lot.  The pictured item above seems to show that the RB31 sheet is RB31p, the hyphen-hole or slot-perfed variety of the stamp.  The likely hammer price on this lot would compel any serious bidder to travel to see the stamps or at least ask for more information.  However, there is nearly an order of magnitude in price difference between the HH versions and rouletted versions of RB31.  Nobody would ever list a classic US postage stamp in an auction and neglect such a distinguishing factor as perf variety.  Such is the ongoing (and 100+ year) lack of respect for battleships.  Scott albums for decades never included spaces for rouletted and HHd battleships.

Friday, June 3, 2011

Cancel for June 4: Armenia Insurance Company

ARMENIA INS. CO.,
JUN
4
1901
Pittsburg, Pa.

In 1906, this Pittsburgh-based insurance company merged with Conestoga Fire Insurance of Lancaster, PA, and the two companies became the Guardian Fire Insurance Company of Pennsylvania. 

Thursday, June 2, 2011

Cancel for June 3: National Bank of New England


N. B. of N. E.
JUN
1900

The Bank of New England was founded in 1854 in the town of East Haddam, Connecticut.  The Bank no longer exists.


Varnish and the Green Commerce Dollar Values

Just before the listings in the Scott Catalogue for R190 to R194, the green commerce dollar values, the editors provide this marginally scrutable statement:

Warning:  If Nos. R190-R194 are soaked, the center part of the surcharged numeral may wash off.  Before the surcharging, a square of soluble varnish was applied to the middle of some stamps.

Unfortunately, there is nothing else written about this little varnish square and when it was applied over the lifetime of the issue, which was very short.  These stamps were issued in 1902, and their use was discontinued after June 30, 1902 with the expiration of the Act that authorized the taxes.  But delve into any dealers stock or private collection of these issues and you will no doubt find a mix of stamps that have either a complete numeral or a partial numeral affected by soaking due to the varnish. 

While Scott provides a warning about the potential effect of soaking, the warning does not translate into distinct value listings for stamps with either undamaged or damaged surcharged numerals.  Given that these are some of the scarcest of the regularly issued 1898 stamps, it would seem sensible if dealers, collectors and Scott valued stamps with the damaged numerals less than the stamps with complete numerals.  In general this is not the case.  Specifically in Scott, and more generally on Ebay and other popular online sites.


Left stamp with undamaged numeral
Right stamp with the center of the numeral missing

Close-up of numeral damaged from soaking


Left stamp with undamaged numeral
Right stamp with the center of the numeral missing


Close-up of numeral damaged from soaking

I have yet to find any research or further explanation of this varnish square in the literature, but would like to know if there has been any work done on these stamps.  All of the copies that I have of these stamps are off document and I would be interested to know if unsoaked varnish squares show in normal light or under a UV lamp.

Wednesday, June 1, 2011

Privately Perforated Proprietaries

An auction lot that I acquired several years ago included an old quadrille page with a set of round-perforated battleship proprietaries.  One of the stamps, a 1/8 cent stamp, is overprinted "Private Perforated."  This set of stamps, which included values ranging from the 1/8 cent to the 4 cent proprietary, was a mystery and had no explanation included in the auction lot with regard to what these stamps were and why they existed.  Perforations of this sort were never used on the battleships, and the examples in the set I acquired clearly show that the perforations were executed on top of existing rouletting.


The American Revenuer is often a great source of information on phenomena like this, and indeed, in this instance, there is an article on these perforations.  The February 1976 TAR includes an article by Ogden Scoville, ARA 531, entitled "A Battleship 'Joke', J. D. Bartlett, Crank's "Private Perforated"". 

Mr. Scoville writes:

The Spanish American War has produced quite a few revenue cancellations and some "jokers."  Most of us are familiar with the "BIG 4" cancel on the proprietary battleship, but here is one more.

I have in my collection a business (?) card measuring 77 1/2 x 51 mm.  It reads J. D. Bartlett, followed by the word "Crank" in very small letters.  On the second line is "S. of P." and "No. 57".  The S. of P. stands for the Sons of Philately, which was a stamp club active in the east just after the turn of the century.  His address was given as Springfield, Mass.

Pasted on the card, which is yellowed with age, is a 1/8 cent green battleship proprietary with the words "Private Perforated" in one line with caps.  It is 2mm high and 21mm long, in very light type.

So here it is some 75 years after issue that a collector is being remembered with his own stamp.


Image of the Bartlett card included in TAR Scoville article
Mr. Scoville does not refer to the existence of a larger set of these stamps, though in the collection I purchased the 1/8 cent stamp was part of a larger effort to place bogus perforation on proprietary battleships.  The entire collection is posted below.

Monday, May 30, 2011

Imprint Plus Adhesive - Part 3

From an obituary in the Kingston Daily Freeman, Thursday evening edition, February 1, 1917: "Mark Shultis,… formerly a merchant at Saugerties, died Tuesday at Brookline, Mass. For a number of years he was engaged in the commission business in Boston and amassed a fortune there."

One of the best sources of adhesive revenues added to imprinted drafts was Mark Shultis, during his time as a commission merchant in Boston. The following drafts are a selection from those in my collection.


First, a draft originated by Milmine, Bodman & Company's Chicago office (see the blog entry for April 26, 2010.) It asked Shultis to pay $1,410 to their account in New York. Shultis accepted the charge and added an adhesive stamp.


Another Chicago draft, this one from Nye & Jenks Grain Company which, though headquartered in Chicago, had an office in Boston. Again, Shultis added an adhesive stamp to the draft.


This draft was originated by the Northwestern Consolidated Milling Company of Minneapolis, which operated about a quarter of the flour mills in the city at the time. They, Pillsbury-Washburn and Washburn, Crosby accounted for some 97% of the Minneapolis market at the turn of the century. It isn't at all surprising to see that they did business with Shultis.



A handstamp, present on all of the drafts shown this far, is clearly readable on this draft from Hunter Brothers of Saint Louis, and explains why the additional adhesives are present. It reads, "ACCEPTED PAYABLE AT/ FOURTH NATIONAL BANK,/ Boston………..189…/ MARK SHULTIS,/ Per…….."

Internal Revenue Circular 508 contains the following commentary: "Sight drafts drawn upon or issued by any bank, trust company, or any person or persons, companies or corporations, require a stamp, and, if the acceptance of the draft is accompanied by an order to the bank to pay the same and charge to the account of the drawee, this accompanying order requires, in addition, a 2-cent stamp as 'an order for the payment of money.'" Shultis, in making his acceptance, specified that funds were payable at the Fourth National Bank of Boston, and properly added an adhesive to pay the additional tax occasioned thereby.

(In an article in The Check Collector I mistakenly assumed that Shultis did not know what the imprint stood for and accused him of being the type that wore both belt and suspenders. I owe him an apology.)

As proof that Shultis knew exactly what he was doing, the following draft originated by A Fred Brown of Boston properly does not bear an additional adhesive. Since it was already specifically payable to an account in the Fourth National Bank of Boston there was no need for Shultis to make a second payment order, so he didn't add a stamp.



Of course, there is always one exception to almost every rule. Churchill & Company, Grain Merchants in Buffalo, New York wrote the following draft, which Shultis accepted using the same handstamp as before, specifying payment at the Fourth National Bank. However, there is no sign of an additional stamp. Was the stamp removed, or did this one slip by? Or did the manuscript notation "c/o Fourth Nat. Bk" at the lower left side somehow make a difference? Since an attorney was accepting these drafts and presumably knew all of the facets of the tax law, perhaps it did.



WLSE?

Dave Thompson doubts that the last figure in the cancel featured in Saturday's post (May 28) is an E.  I am inclined to think he's right.  Any ideas out there regarding this last figure and the source of this cancel?

Saturday, May 28, 2011

Friday, May 27, 2011

Charles Metz

On May 14, I posted an article in Chambers Stamp Journal written by Charles Metz in 1951 about his efforts to list documentary railroad printed cancels.  It is apparent that Mr. Metz had been working to establish a comprehensive list, likely independent of Mr. Fullerton, and before the publication of Mr. Fullerton's list.  And it is also apparent that Mr. Metz' work is derivative and from the work of Clarence Chappell, and that somewhere along the way the collection of Harold Field meant much to the study of these cancels.  Yikes.  I'm not sure if anybody can claim original ownership of this work, even if there exists this list by Mr. Fullerton. 

In the late 1940s, The American Revenuer republished several of Mr. Metz's pieces from the Chambers Stamp journal.  The list below, from the cover of the September, 1948 edition of TAR, appears derived from the work of Clarence Chappell:





The short letter below was included in the November, 1948 edition of The American Revenuer, which was also borrowed from the Chambers Stamp Journal:





Extra thanks to Frank Cunliffe for sending these morsels.

Wednesday, May 25, 2011

Mystery Margin Number

Dave Thompson sent in this scan of an RB20 pair with a three digit number stamped in the margin.  Just what is this number?  Was this a control number placed in the margin by the user?  I assume that the BEP never used numbers of this type. 



Can any of our wiser readers posit an explanation for the 228?

Tuesday, May 24, 2011

On Beyond Holcombe: James S. Kirk & Company

Editors Note: Malcolm A. Goldstein is a contributing blogger for 1898 Revenues. This post is part of a continuing column on the companies that used proprietary battleships.


J. S. KIRK & CO.
OCT   x   1900
CHICAGO  


Recent discussion of a stock certificate of James S. Kirk & Co. in this blog prompts this column. James S. Kirk & Co was a Chicago, Illinois soap manufacturer that advertised widely, produced many colorful trade cards and had a long run. The salient dates, drawn from the current Kirk’s Soap’s website, are mentioned in the paragraph describing the stock certificate. The company was founded by James S. Kirk in Utica, New York in 1839. In 1859, Kirk moved the company to Chicago, and, as the featured certificate showed, under his son’s guidance, it incorporated in New Jersey in 1900. The corporation was sold to Proctor & Gamble in 1930. Since 1996, a new incarnation has operated as Kirk’s Natural Products Corp. first in Chicago, its original home, and now in Cincinnati, where Proctor & Gamble had moved the business. Its featured product is Castile soap.



While soap itself appears not to have been subject to the Spanish-American War tax, nevertheless the company cancelled battleship revenues, presumably to reflect payment of the tax due on its line of perfumes. The example of RB31 shown (courtesy of Robert Mustacich) was meant to pay tax on an item retailing between $1.75 and $2.00 - a generous splurge of a purchase in that era - which supports the notion that it originally graced a perfume bottle. A website called Perfume Intelligence lists over fifty perfumes that the company marketed between 1893 and 1925. “Jap Rose,” dating from 1918, was Kirk’s most prominent perfume, and was one of the significant products mentioned as prompting Proctor and Gamble’s purchase of the company.

James S. Kirk

James S. Kirk, the founder of the company, was born in Glasgow, Scotland in 1818, the son of a prominent shipbuilder and civil engineer. The family migrated to the new world when he was six months old, and he grew up in Montreal, Canada. While still in his teens he was already engaged in the manufacture of soap, candles and alkali, and later ran both a lumber camp and a lumber drive down the Ottawa River. At twenty-one, he married and moved to Utica to open his own business. He produced a brood of seven sons, no less than four of whom were later involved in the business: James A., John B., Milton W and Wallace F. Described as a “stern old churchman,” he lived in South Evanston, IL, and was a benefactor of Evanston’s Northwestern University. Upon his death in 1886, it was said that “there never was a resident of Chicago who was more highly respected and esteemed.” The tall stone shaft that marked his grave was noted in Chicago guidebooks as a prominent marker in the local cemetery.

Kirk Factory


The company flourished and prospered in the next generation. It was exceedingly proud that its name remained the same for almost a hundred years from 1839 through its sale during the Depression. It also took pride that its Chicago factory was located on the site of the first home in Chicago, built in 1779 by Jean Baptiste Point De Sable, “a Negro from Santo Domingo,” as the plaque erected on the site in 1913 by the company (but now apparently lost) read. With but a brief interruption because of the Great Chicago Fire in 1871, it quickly became the largest manufacturer of soap both in Chicago and the United States, with sales in 1880 estimated at over 2 million dollars. In 1895, a contemporaneous history of Chicago noted the company’s main plant was a massive, five story building along the banks of the Chicago River served by a railroad spur that connected it to every railroad in Chicago, and its boiler house, containing a “battery of boilers, the largest in Illinois” was vented by a chimney 20 feet in diameter and 282 feet high, a “distinctive feature in the vicinity.” The company’s operating divisions were laundry soap, toilet soap, perfumes, colognes and toilet waters and glycerine. Three-quarters of the factory’s output shipped by rail and made its way not only throughout the United States, but also to “Europe, New Zealand, New South Wales, Victoria, South Australia” and South America. The boxes that the goods shipped in were shaped at the company’s lumber mill located in Rhinelander, WI, and then assembled and stenciled at the Chicago factory. Counting the lumber mill staff, the company employed 750 workers and, by 1900, produced over 100 million pounds of soap per year.




The stock certificate issued in 1900, featured in the earlier post on this site, was actually retired in 1906 when the company was reincorporated in Illinois. The corporation paid handsomely in the first decades of the Twentieth Century, and its dividends rose from 4% in 1907 to a whopping 28% in 1921. However, by the end of the Twenties, it was locked in a battle with the Federal Trade Commission over the use of the term “Castile soap,” which the Commission contended, strictly speaking, could only be used in connection with a soap made entirely from olive oil as the originators of Castile soap in Spain had done. Perhaps the litigation with the government and the pressure to realize gain on the strategic factory real estate in the center of downtown Chicago, drove the family to extract its funds from the company in the form of the high dividends. In 1929, the soap works was demolished, and the following year, the company was sold to Proctor & Gamble (another potential subject for this column in due course). It was not until 1932, that the federal courts finally overturned the Federal Trade Commission’s ban on Kirk’s use of the term “Castile soap.” By then the brand had passed to Proctor & Gamble.


In terms of society page tidbits, aside from a certain tendency toward multiple wives shown by some of the sons, the Kirks of the second generation appear in the pages of the “who’s who” compilations of the times to have been sober Republican businessmen, who persevered in their father’s hardworking tradition. However, because such merchant princes were scrutinized by the press of that day the way today’s rock stars are, when the second wife (of at least three wives) of Milton W. Kirk, by then a past president of the Company, responded in a divorce action in Chicago that she had been “treated more ... as a housekeeper or governess than a man would treat his wife,” no less a paper than the New York Times carried the story. A hundred years later, it still resides entombed in that paper’s digitalized morgue to be exhumed by prurient voyeurs In the third generation, John A Kirk’s son, Alexander Comstock Kirk (1888-1979), compiled a distinguished record as a U.S. diplomat, and, as U.S. ambassador to Egypt during World War II, entertained Franklin Delano Roosevelt, Winston Churchill and Chiang Kai-Shek during the Cairo Conference at the end of 1943, wealth again transformed into public service.

Monday, May 23, 2011

Provident Savings Life Assurance Society Cancels

In the pursuit of cancels that might qualify as "printed" on the 1898 documentaries, the cancels of Provident Savings Life have come to light.  There has been some presentation and discussion of these cancels, particularly in this post.

The 80 cent stamp below displays a cancel that appears printed and applied by a device other than a hand.  This cancel is found on more than one 1898 value (I know of two examples on commerce dollar values) and in both black and red.  However, Provident also used something that looks more like a handstamp device in the same style as this printed cancel.  An example can be found below...




Handstamp cancel (?), larger than that on the 80c stamp above but of the same style and with the same positioning dot at the bottom.

Provident Savings Life, as an issuer of often high premium life insurance policies in New York, used quantities of high value 1898 revenue stamps.  Apparently the firm was in a leadership position in the US insurance industry, with its early adoption of term-insurance and with Sheppard Homans, the first president of the Actuarial Society of America, as its president.

Bob H., I'm crossing into your professional area here.  Any comments?


*****


The New York Times, January 1, 1886, and its story on Provident's term-insurance policies:

THE PROVIDENT SAVINGS LIFE ASSURANCE SOCIETY.

  Life insurance has been generally purchased by level, or uniform premiums, extending over the whole duration of life, or for a stated number of years, which necessitates payments for mere accumulation, in order to create necessary reserves.  In other words, such policies involve payments for investment as well as for indemnity.  Recently the Provident Savings Life Assurance Society, of which Mr. Sheppard Homans is President and Actuary, has issued insurances where the investment element is eliminated, and the premiums required are for indemnity only.  This society has met with phenomenal success, having written over $25,000,000 in the last three years on the lives of prominent merchants and professional men, at a cost of less than one-third the usual level premium rates.  The Provident Savings Company offers renewable term insurance upon payments of $3 per anum on each $1000 insurance for expense, and mortuary premiums, equitably adjusted for each age, to meet the current death claims as experienced.


Sheppard Homans


Mr. Sheppard Homans was an actuary, mathematician, author, astronomer and innovator. His accomplishments during the 19th century had far-reaching results and deserve a prominent place in the annals of life insurance.


He is best known for developing the American Experience Table, the first life insurance mortality table based on insured lives in America. Constructed in 1868 on the statistical data of the Mutual Life Insurance Company of New York, it became almost universally used for eighty years to determine premiums and reserves.

Mr. Homans’ skill was also instrumental in the development of the widely accepted Contribution Method for calculating surplus and dividend distribution. He pioneered the use of surrender values to avoid the harshness of policy lapsation.

His business leadership continued long after retirement as an actuary. He became the first president of the Actuarial Society of America and president of the Provident Savings Life Assurance Society for 20 years.

The results of Mr. Homans’ active and agile mind can truly be said to have transcended companies, institutions and time.

Saturday, May 21, 2011

Imprint Plus Adhesive - Footnote to Part 2

I had forgotten that I have a second example of the Merchants National Bank draft that I used in Part 2 of this saga. When I ran across it I hoped that it would shed some light on the use of an extra adhesive, as it has one as well.


This draft was written on October 19, 1898, paying Julia W. Smith twenty-five dollars from the Merchants National account in the Fourth National Bank of New York. Ms Smith endorsed the check over to Rosie E. Robotham, and a battleship stamp was applied to tax this third-party order to pay.



But it doesn't look like that is the correct sequence of events.

It looks like Ms Smith took the draft to the Northampton National Bank and cashed it. The ink of her signature appears to be on top of the handstamp ink, though that might be deceptive. If so, How did Ms Robotham get into the picture at all?

The other problem is that the added battleship was canceled by the Merchants National Bank on October 19, the day the draft was written. Did Ms Smith pick the draft up at the bank and sign it over to Ms Robotham then and there? If so, how did the Northampton National Bank get into the scene? Why wouldn't Ms Smith just cash it at the Merchant's National and hand the money to Ms Robotham, obviating the need for a second stamp?

Let's say that Ms Robotham was not at the bank when the draft was delivered, and Ms Smith didn't want to carry around cash, so she signed it over to Ms Robotham later, who cashed it at the Northampton National (which just happened to put their handstamp above Ms Smith's signature and its ink didn't "take" over the ink of that signature.) Then why did the Merchants National add the battleship on the day it was written? Just in case Ms Smith would later sign it over to someone rather than simply cash it?

Or was the draft mailed to Ms Smith? If so, the extra stamp is even more puzzling, as the bank would have had no idea what Ms Smith was going to do.

The Merchants National Bank drafts have the designation of "ORIGINAL" on the face, and just possibly could have been taxed as inland bills of exchange, but even if they were (and it isn't likely, as they weren't "accepted" by the Fourth National as would have been necessary for a bill of exchange) the tax on an inland bill of exchange payable on sight or demand was the same as for a check or draft so payable.

It isn't likely that banks were tossing around two cents here and two cents there in 1898, so there must be some logic to the presence of these extra stamps on the Merchants National drafts.

Friday, May 20, 2011

Cancel for May 21: Willard H. Jones & Company


WILLARD H. JONES & CO.
MAY  21  1902
NEW  YORK

Willard H Jones memorandum of sale for ??
Looks like somebody bought a stock begining with an I for 17 3/4.  Taxes paid were 20 cents for this $177.50 trade.

 
While I can't report much on the work of Willard H. Jones & Company, the man Willard H. Jones did like to enjoy himself.  From The New York Times of July 26, 1888:

BROKERS ON A YACHTING TOUR.

  Montreal, July 25.--Three American brokers, Walter Power and Willard H. Jones of New York and Stephen H. Bacon of Brooklyn, arrived here tonight in their steam yacht Elia, on which they are spending their vacation.  They left New York on July 3 and went up to the Thousand Islands by the Erie Canal route, and down by the St. Lawrence, running all the rapids.  They intend to spend a day or two here and return to New York by way of Lake Champlain.