0 Territory of Montana Bond – Issued in 1868, Redeemable in 1873

Description

0 Territory of Montana Bond – Issued in 1868, Redeemable in 1873
During the extended period between its formation as a territory (1864) and its admission as the 41st state in the Union (1889), the area we now know as Montana issued several bonds to assist its fledgling economy. Since the territory was sparsely populated, the sale of these bonds was often slow, even though many of the individuals inhabiting the area were fairly wealthy by the standards of the day. We are pleased to offer a fine example of one of these rarely encountered bond issues for your consideration. The body of the bond is dominated by a lengthy financial obligation which states that
“IT IS HEREBY CERTIFIED THAT The TERRITORY OF MONTANA is indebted unto
James G. Seibe
in the sum of ONE HUNDRED DOLLARS redeemable at the pleasure of the Territory after the 1st day of June, 1870, and payable on the 1st day of June, 1873, with interest from the 1st day of June, 1868, at the rate of Fifteen per cent per annum,”
. It furthers indicates that the money was
“payable semi=annually by the Treasurer of the Territory in lawful money of the United States, at his office, or in the City of New York, as the holder may elect, on the 1st day of June and the 1st day of December of each year on presentation of the proper Coupon hereunto annexed.”
, followed by the printed date of issue, expressed as
“June 1, 1868”
. Immediately below this are the signatures of
“James Tufts”
as
“Secretary of the Treasury”
,
“W H Rodgers”
as
“Auditor”
, and
“W G Barkley”
as
“Treasurer”
, the first and last two divided by a vignette depicting a dog’s head (this
vignette was used frequently to represent fidelity and security). A blue
“100”
security overprint, composed of 1’s and 0’s, appears atop the center of the financial obligation. Larger vignettes flank the financial obligation, the one to the left depicting an attractive young woman wearing a cavalier type hat, and the one to the right featuring a sailor leaning on a capstan, with cargo and sailing ships behind. The denomination, represented numerically, appears in each of the upper corners, with the statement that the bond was
“ISSUED UNDER TERRITORIAL ACT APPROVED DECEMBER 3rd, 1867, IN EXCHANGE FOR TERRITORIAL WARRANTS”
printed above. The imprint of the printer,
“Montana Democrat Print”
appears in the lower left corner. All of the above is enclosed in a decorative blue border, neatly separating it from the one remaining interest coupon. This coupon states that
“THE Territory of Montana Will Pay SEVEN DOLLARS AND FIFTY CENTS To
James G Seibe
or order for Six Months Interest, due December 1, 1872, on Bond No.
168”
, followed again by the signatures of
“W H Rodgers”
and
“W G Barkley”
in their previously listed positions. Two circular blue
“PAID”
cancellations, apparently applied on
“AUG. 8 1872”
by
“KOUNTZE BROTHERS, BANKERS, NEW YORK”
are present over the right hand signatures and on part of the coupon. An impressed seal of the territory appears in the lower left corner, neatly touching the decoration of the left vignette and the left and bottom borders. The normally blank verso features several manuscript payment endorsements, with the same endorsements repeated on the one remaining coupon. The first endorsement instructs the recipient to
“Pay Southern Express Company or order”
, with the signature of
“J. G. Siebe”
below, while the second manuscript endorsement states
“Pay Adams Express Company or order / Southern Express Compy”
, followed by the signature of
“Geo H Tilley”
in his capacity as
“Secy”
. A third endorsement, this one in the form of a stamp reads
“For the Adams Express Company”
, followed by a manuscript addition which states
“for collection / D B Barnum / Atty”
. The endorsements on the coupon are the same as the bond, though they are significantly smaller and the final one appears atop the other two. This interesting document measures approximately 8.25 x 11.75, including the attached coupon (principal instrument measures approximately 6 x 11.75 inches).
As with most documents of this type and size, numerous storage folds and creases are present throughout. As previously noted, two blue cancellations are present at the lower right. Four small square punch-out cancellations are also present, as are two “X” cancellations that are hardly noticeable at the top and to the side of the financial obligation. The contrast is average for the issue, with certain areas appearing stronger than others. All of the manuscript portions are legible, though some of the signatures are light due to the amount of ink used. This attractive issue would look very nice if framed with a map of the state and a small plaque denoting the significance of the piece.
There will be .95 for postage and insurance. Good Luck!
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(If you have any questions please ask before bidding)
(We Ship with Insurance and Tracking)
Buy or Bid with Confidence – American Coins & Collectibles President Richie Self has worked 6 years as a paper money grader/authenticator. He has contributed to numerous reference books within the industry, as well as being a co-author of “The Comprehensive Catalog and History of Confederate Bonds, 2
nd
Edition” with Douglas B. Ball, Ph.D., Henry F. Simmons, M.D., Ph.D. and James R. Desabaye. Mr. Self is a life member of the American Numismatic Association, the Society of Paper Money Collectors, as well as numerous regional numismatic associations. He is an authorized submitter to NGC, PCGS, and PMG, a diamond founding member of Coin Dealers Helping Coin Dealers and a supporter of the Industry Council for Tangible Assets. American Coins and Collectibles can be found at many of the state and local coin shows.
American Coins & Collectibles
Shreveport, La.