This note grades Choice Very Fine with 2 hole-out cancellations (both torn on the bottom edge), some pinholes and a small tear on the bottom left corner.
The State Bank of Illinois was ordered to liquidate its assets within five years by the state legislature in 1843 and certificates like this were used to pay off creditors.
The certificates were receivable for all dues to the bank, for the purchase of any lands liquidated by the bank, and for participation in any dividends declared as part of the liquidation process.
A stamp recording the payment of a 16 2/3% dividend in 1851 appears vertically on the face.
It measures ~ 7.25" x 3".
This note grades Choice Very Fine with 2 hole-out cancellations (both torn on the bottom edge), some pinholes and a small tear on the bottom left corner.
The State Bank of Illinois was ordered to liquidate its assets within five years by the state legislature in 1843 and certificates like this were used to pay off creditors.
The certificates were receivable for all dues to the bank, for the purchase of any lands liquidated by the bank, and for participation in any dividends declared as part of the liquidation process.
A stamp recording the payment of a 16 2/3% dividend in 1851 appears vertically on the face.
It measures ~ 7.25" x 3".
