Philadelphia, Pennsylvania. $50 1875. Friedberg 446 (W-2842). The Merchants NB. Charter #2462. PCGS Currency Very Fine 20.This pleasing mid-grade Series of 1875 $50 should be well received in the City of Brotherly Love. The Merchants National Bank issued many notes before being liquidated in 1910. While five Series of 1875 $100s are known from this bank, the present note represents the lone $50 remaining.<p>Approximately 60 Series of 1875 $50s are known from all banks. The face design features <em>Washington Crossing the Delaware</em> as engraved by Alfred Jones at left, with <em>Prayer for Victory </em>by Louis Delnoce at right. The back illustrates the <em>Embarkation of the Pilgrims</em>, engraved by W.W. Rice, at center with the State Seal of Pennsylvania at left and a bald eagle with shield at right. These notes were printed by the American Bank Note Company.<p>This example is very appealing, with even circulation, boldly printed inks and neatly penned bank officers signatures. The note is free of any distracting qualities or impairments. Original and Series of 1875 $50s are difficult to obtain from any location, and this is a type desired by many type and state specialists.<strong>About the Bank</strong><p>The new Merchants National Bank began business on March 23, 1880, with George H. Stewart as president. After a bitter fight among leading stockholders, he had been ousted as president of the Mechanics National Bank of Philadelphia, charter 610. Charles H. Bales was the first cashier. The capital was authorized at $600,000. Stewart had many followers, and on the first day deposits totaled over $300,000. The bank met with success and issued currency for many years.<p><p><em>From Lyn Knights sale of August 1989, lot 212.</em>
