Philadelphia, Pennsylvania. Farmers and Merchants Bank. ND (18xx). $10. Choice Uncirculated. Proof.(PA-430 G34) Spencer, Huffy & Danforth. Philad./Danforth, Spencer & Huffy. New York. India paper on card. Female portrait in ornate left end panel with X above and 10 below. Allegorical female with farm tools and large 1 and 0 at upper left. Die counter 10 upper right of center. Female portrait at right with X above and 10 below. Arm with hammer and anvil at bottom center. A broadly margined Proof that is well executed and free of any impairments.