Unusual 00 District of Kensington (PA) Loan Certificate

Description

Unusual 00 District of Kensington (PA) Loan Certificate
Offered for your consideration is a pre-Civil War 00 loan certificate issued, presumably for local improvements, by a district that was part of the city of Philadelphia, Pennsylvania. The central vignette depicts a Native American warrior, crouching behind a large rock, leaning on his bow, overlooking the panorama of a growing city. A brook flows peacefully at the warrior’s feet, while close examination reveals a train entering the city at the left. Above and below this scene is printed “
LOAN
/
UNDER AN ORDINANCE OF THE
/
BOARD OF COMMISSIONERS
/
of the District of
/
KENSINGTON
”, while to the left and right are the serial number and amount, respectively. Below this is the financial obligation, which states (in part) that “
These Presents do Certify, that there is due from the Commissioners and Inhabitants of the DISTRICT OF KENSINGTON the sum of
One Thousand Dolls
payable to
the
Equitable Mutual Life Ins. Co
bearing Interest from the date hereof, at the rate of
Six
per centum per annum, …
”. It further states that “
this Certificate is issued in pursuance of an Ordnance of the BOARD of COMMISSIONERS of the DISTRICT OF KENSINGTON passed in the
Thirteenth
day of
August
A.D. One Thousand Eight hundred and
Fifty One
and is not redeemable without the consent of the holder thereof previous to the
Twenty Eighth
day of
October
A.D. One Thousand Eight hundred and
Sixty Six
…
”. The document is signed at the conclusion by “
Jacob J Carrigan
” in his capacity as “
Treasurer
” and “
Peter Rambo
” in his capacity as “
President
”. A highly decorative border encloses the foregoing material, with additional vignettes in each corner. These depict a standing female figure representing Justice at the upper left, a seated, classically-attired, male figure, probably representing Vulcan at the upper right, a Tom Thumb style train at the lower right, and a fully rigged sailing ship at the lower left. All of these vignettes are enclosed in oval frames. The back of the certificate, as with many financial documents of the era, was left blank, though it now bears a manuscript notation indicating the serial number and amount. Sadly, the printer of this piece is not known to the seller, though the style is very reminiscent of several period banknote engravers. A lovely example of the engravers art, this piece would look great framed with a period photograph of Philadelphia, or just as an attractive addition to any period financial document collection.
The presently offered document exhibits signs of period use, including bank cancellations, as well as subsequent long term storage. Light toning is present across the entire surface, imparting to the paper an off-white to beige hue. The edges are slightly darker, especially along the bottom. Numerous folds are present, none of which seem to threaten the integrity of the paper. The contrast is sharp and bold, including the manuscript additions, which are so strong that ink show through and minor erosion are noted from the front and back. The edges are somewhat irregular, with several small chips and tears present (these are fairly small and do not affect any of the design elements). The most obvious period issues are the two large circular cancellations over the signatures and the smaller hole at the center (this may be a cancellation or possibly just damage). Additionally, a round attachment can be seen at the upper left, with part of another certificate still attached. A pencil notation reading “
July 1866
” appears at the upper left, presumably when this piece was actually redeemed. Measuring approximately 7⅞ x 9¾ inches, this piece is certainly worthy of further research. A lovely example of the engraver’s art.
A charge of .95 will be added to the winning bid for postage and insurance.
If you have any questions concerning this item, please ask before purchasing.
Buy or Bid with Confidence – American Coins & Collectibles President Richie Self has worked 6 years as a paper money grader/authenticator. He has contributed to numerous reference books within the industry, as well as being a co-author of “The Comprehensive Catalog and History of Confederate Bonds, 2
nd
Edition” with Douglas B. Ball, Ph.D., Henry F. Simmons, M.D., Ph.D. and James R. Desabaye. Mr. Self is a life member of the American Numismatic Association, the Society of Paper Money Collectors, as well as numerous regional numismatic associations. He is an authorized submitter to NGC, PCGS, and PMG, a diamond founding member of Coin Dealers Helping Coin Dealers and a supporter of the Industry Council for Tangible Assets. American Coins and Collectibles can be found at many of the state and local coin shows.
American Coins and Collectibles
Shreveport, LA