LOT Old Heritage Auctions  /  2008 APR Rosemont (CSNS) Currency #3500  / 

12425

Idaho City, IT- B.M. DuRell & Co. $50 186_

Currency:USD Category:Coins & Paper Money Start Price:2,400.00 USD Estimated At:5,000.00 - 8,000.00 USD
Idaho City, IT- B.M. DuRell & Co. $50 186_
<B>Idaho City, Idaho Territory- B.M. DuRell & Co.</B></I> $50 186_<BR> This is an excessively rare Idaho Territorial issue by B.M. DuRell & Co. of Idaho City which is actually both a scrip issue and a transition piece to the issuance of National Bank Notes in Idaho. Benjamin M. DuRell was born about 1830 in either Maine or Massachusetts. He came west to California in about 1849, then went north to St. Helens, Oregon in 1853, where he built a flour and sawmill. When that was destroyed by fire, he moved to Salem, Oregon where he built a large packing plant and a second sawmill. A disastrous flood during the winter of 1861-62 again put him out of business and he headed for the Idaho gold fields. On his way to Idaho, he met Christopher Moore and the two began hauling goods to the mines in Auburn, Oregon. In the spring of 1863 they brought supplies to Boise City, selling goods from their wagons and hauling the rest to the Snake River for sale to the Owyhee miners. The partners opened several stores, including B.M. DuRell & Co. in Boise and Idaho City. The stores offered banking services as well as merchandise, and this financial activity led DuRell and Moore to join with three other investors (including Territorial Governor David Ballard) to organize the First National Bank of Idaho in 1866. The bank was granted a charter on March 11, 1867 and it opened for business in the rear of DuRell's Boise City store on June 6, 1867. A branch was soon opened in the Idaho City store as well. DuRell sold his interest in the bank in 1872 and moved to Utah, where he organized the Salt Lake City NB of Utah. We have handled only one other note from this issuer, a lower grade $100 that brought $2990 in our January 2005 FUN auction. This serial number 130 two-color remainder presented here exhibits a great portrait of President Lincoln, a stage coach vignette, a large quartz mill vignette on the back, and the wording of "The First National Bank of Idaho" boldly printed across the face. It has sound edges and it also displays original paper surfaces that include a couple of small internal splits. This note tells a great story of the early West and is a true transitional piece between private issue scrip and National Bank Notes. <B>Very Fine</B></I>. <BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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