The Cadiz, Ohio Bank was chartered in October 1863 with a capital of $120,000 against a limit of $250,000. The first president was Joseph S. Thomas and the first cashier was James M. Watson. The institution changed its title to the Union National Bank and Trust Company on January 12, 1931, having by that time assumed the businesses of three other National Banks.
The note is pedigreed to lot 4071 in Barney Bluestone’s 1946 sale of the Albert A. Grinnell Collection. Bluestone, a Syracuse, New York dealer, sold the Grinnell Collection in multiple sections in what was considered to be the greatest sale of currency ever. Grinnell was the principal in Grinnell Brothers, a large musical retailer and wholesaler in Michigan with stores throughout the state, mainly in Detroit. The business prospered until the Depression, at which time he found himself in reduced circumstances.
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