Rochester, New Hampshire. $5 1929 Ty. 2. Fr. 1800-2. The New Public NB. Charter #13861. PMG Very Fine 20.Here is one of the highlights of this impressive collection of New Hampshire National Banknotes and a charter that is missing from even advanced collections. The town of Rochester is part of the tri-city area that includes Dover and Somersworth, and was home to three issuing banks. This later chartered New Public Bank of Rochester issued only Type 2 small-size notes and this is one of just a quartet listed in current census information. Only two public records of the charter are seen in Track and Price, with just from a major numismatic auction house, another $5 note in Very Fine that brought $2,530 in a September 2006 sale. This note displays nice centering, even circulation, and problem free paper for the grade. The New Public National Bank was formed after the Public National Bank went into receivership. Certain of its assets were acquired by the new institution. After close study by the Treasury in Washington it was chartered in early December 1933, with a capital of $100,000. Officers and directors were elected soon thereafter. Serving as president was William M. Lord, who had held the same post in the Public National Bank. Rolland H. Spaulding, a former governor of the state who had been involved with the old Rochester National Bank, was vice president of the new bank. Russell H. Britton served as cashier.ppAbout a year later the location of the New Public National Bank of Rochester in facilities shared with the state-chartered Rochester Trust Company was not pleasing to the Treasury Department, but in this deep time of national financial crisis nothing was done, as other bank problems required attention. Internal Treasury correspondence reveals that the new location was known and approved of at the time of the banks charter.pp
