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|Chicago Coin Club|
|Volume 46 No. 10||October 2000|
The 980th meeting of the Chicago Coin Club was called to order on September 13, 2000, 7 PM, by president Carl Wolf. Minutes from the prior meeting were approved. The Treasurer's report was read and approved. Guest for the evening was our featured speaker, K. Clifford Priest, who was introduced by First VP Steve Zitowsky. Before Clifford began his talk, Steve told us that Tom DeLorey would speak next month followed by the holiday banquet in December. A speaker is still needed for the December holiday banquet.
K. Clifford Priest is a nationally known stock and bond dealer from Elgin, Illinois. He has been a dealer since 1969 and attends many different shows in the Chicago area as a dealer. Clifford displayed many different types of stocks all from the Chicago area, including bank and railroad shares. At the conclusion of his talk, Steve presented Clifford with the club Featured Speaker medal and the ANA Educational Award certificate.
Exhibitors for the evening were as folows:
Under old business, Dennis Fuller and Bill Burd completed an audit for 1999 and reported satisfactory results; financial report to be in Chatter. Several members attended the recent ANA convention in Philadelphia and had favorable comments. Robert Leonard sold $54.00 worth of CCC material at the ANA convention. Members also attended the ILNA show in Harvey with Bill Bierly, Don Dool, and Carl Wolf receiving exhibit awards and Mark Wieclaw and Carl Wolf serving as speakers.
Member Charlie Ricard authored an article in The Numismatist titled "The Duviviers: Medalists to the Kings."
Under new business, Phil Carrigan, the archivist, has received material from the prior Secretary, Brian Stubbs, and will eventually review these items.
There is some question about the accuracy of records at the safety deposit box at Bank One, pertaining to who is authorized to access the box. This will be clarified in the future. Also, there was some discussion about the display of CCC material and awards at the Chicago Coin Company of Bill Burd. Members voted to discuss the idea further at the next meeting.
Richard Hamilton reported receiving a letter and World War II Bulgarian bond from a paper money collector of World War II. A translation is in progress.
Meeting adjourned 9:10 PM.
Cliff Priest specializes in the stocks and bonds of the railroads of his home state of Maine. While living in an apartment in the late 1960s, Cliff was looking for a hobby that would not require much space. He traces his interest in scripophily (the study of stocks and bonds) to when, while out shooting pictures of railroad box cars in the Chicago area, he found many stock certificates lying along the rail tracks (being taken to be destroyed?). His collection started with a stock certificate from Butler Brothers.
We used an overhead projector to display stocks and bonds on our random walk through Chicago's history. The big and well known were there, along with some small and some fanciful. A City of Chicago 1937 bond started us off; it bore the city seal which used a Ft. Dearborn motif. a
Many of the securities issued by financial institutions showed the building housing that institution. An 1864 stock of the First National Bank at Chicago, Illinois was shown, and a view of the First National Bank Building was used on a 1933 receipt from the National Safe Deposit Company. A specimen from the National Boulevard Bank of Chicago, printed by the Northern Bank Note Company, showed the building (Wrigley Building) containing the bank, but the bad vignette quality was noted.
The certificates from many more local institutions were shown; some names still remembered, others long gone. The building of the Madison and Kedzie State Bank was shown on its certificate, but the building now houses a liquor store as the bank failed by 1933. Certificates from 1928 from the Garfield State Bank and Flossmoor State Bank were just two of many more shown which show their building. Bank failures are not a recent development. A beautiful river scene, showing a Lake Michigan steamer, many sailing ships, and docks and warehouses, is on the face of a stock certificate from the The Cook County National Bank of Chicago. Markings on the rear, however, tell us that the bank failed in 1875, only three months after the certificate was issued.
Certificates from some railroad companies were next shown. A 1928 certificate from the Chicago South Shore and South Bend Railroad showed some of the engines and equipment, while the one share, certicate #1 from 1904 of the Chicago and Oak Park Elevated Railway Company showed the elevated structure and a train upon it. It also bore an allegorical figure riding a winged wheel while holding a light bulb aloft (the line was electrified). The winged wheel motif would appear on a few more certificates during the presentation.
Buildings were pictured on a number of railroad certificates. The Chicago Terminal Transfer Railroad showed the same buildings as did the the grandly named Chicago Northern Pacific Railroad Company which was a switching railroad out to suburban Forest Park. The buildings illustrated on some certificates were not contemporary with the actual certificates. The construction bond for the Chicago Union Station Company showed the planned building, but the actual building does not have the pictured upper floors. An 1893 stock certificate of the Wagner Palace Car Company has a train as its central vignette, travelling from right to left. The right vignette shows New York's Grand Central Station while the left vignette shows Chicago's Grand Central Station, which had burned down in the great Chicago Fire. That railcar company was later absorbed into The Pullman Company which used only a portrait of it founder, George Pullman, on it certificate from 1900. That was an artistic improvement over the 1869 certificate of the Pullman Palace Car Company which bore no images, and was printed on poor quality paper.
Many wholesale and retail companies have been headquartered in Chicago. Many certificates bearing images of actual company facilities were shown. Most of the wholesaler company names are unfamiliar today, as unfamiliar as the Butler Brothers retailing name is today. A 1950s specimen of Carson Pirie Scott & Company bore a line drawing of the iron work around their main entrance. (A certicate of the Chicago Railways Company, one of many long-gone street car companies, pictured a State Street scene which included part of the Carsons building.)
One of the many certificates from local manufacturers was of the Pilsen Brewing Company. The large vignette showed the main brewery building with the adjacent beer garden. The engraving was excellent, and our camera operator spent some time panning around and zooming in on the image, to the appreciative comments from the audience. I'm starting to get thirsty, so this report must end now. (You really should have been there; there was just too much material shown to fit into a report.)
Each image has a scale in the lower-left corner, with the tics spaced 1 mm apart. Because the brightness and contrast were manipulated on a computer, the coloring of a coin's image differs from the coin's actual coloring.
The club auction is scheduled for 7PM, at the start of the regular November club meeting. In the past few years, club related material (and Chicago area numismatic items) have had the best results. Please consider using the club auction to dispose of the numismatic items you no longer need.
You can place a reserve on each lot, and there is no commission charged to either the buyer or seller. Auction lot viewing will be held before the meeting starts, and again briefly before the auction starts.
The November Chatter will contain a list of all auction lots that are known to us by Friday, October 20. You can either bring your lots with you to the November meeting, or you can ship them to Bill Burd. Please send your list to Paul Hybert.
Chicago Coin Company
6455 W. Archer Ave.
Chicago, IL 60638
3301 S. Dearborn
Chicago, IL 60616
|1.||80th Anniversary medal orders ($9,078 recvd in 1998 for total=$12,448)||$ 3,370.00|
|2.||Holiday Banquet (includes 117.75 cash bar)||1,602.75|
|4.||ANA convention sales||793.00|
|7.||Donation American Vecturist Association for ANA Transportation Tokens||500.00|
|8.||CPMX reimbursement (Krause Publications)||289.32|
|9.||ANA reimbursement (paid to Chicago Coin Co., for ANA exhibit guide)||244.63|
|10.||Miscellaneous sales through the year (CPMX, CICF, Transportation Tokens)||215.00|
|11.||Donations for 80th Anniversary (Mark Wieclaw, Bill Burd, Carl Wolf, Drew Michyeta)||400.00|
|12.||Donation - David B. McCurdy||100.00|
|13.||Donation - ANA coasters - Richard Hamilton||100.00|
|14.||Chatter insert - Remy Bourne||55.00|
|15.||Interest - Dreyfus Money Market||114.94|
|16.||Interest - Bank ONE CDs||109.92|
|Total 1999 Receipts||$ 9,524.06|
|1.||Featured Speaker Medals||$ 90.31|
|2.||Chatter Printing Expenses (Chicago Coin Co.)||1128.81|
|3.||Balance due Mid-Day Club from 1998 Holiday Banquet||683.89|
|4.||Down payment 1999 Banquet||500.00|
|5.||80th Anniversary minting (payments of 9,650 and 4,822)
$2665 paid in 1998. Total: $17,137
|6.||80th Anniversary shipping expenses||215.78|
|7.||1999 CPMX Souvenir Sheet printing (DeForest Printing)||585.27|
|8.||1999 CPMX miscellaneous expenses (Robert Feiler)||43.37|
|9.||1999 CICF Souvenir Sheet typesetting and printing||288.19|
|10.||Medals of Merit to William A. Burd & Paul R. Hybert||189.44|
|11.||Memorials for Frank Zaylik and Leah Klein||50.00|
|12.||Safety deposit box - Bank One||47.70|
|13.||Post Office Box rental||27.00|
|14.||Miscellaneous supplies (copier, paper, endorsement stamp)||93.36|
|15.||Donation to ANA - Silver Patron 108th Anniversary $100.00; Spring Show donation $25.00||125.00|
|16.||CCC business cards promoting CCC meetings||59.45|
|17.||ANA Transportation Tokens||1,613.63|
|18.||Flyer promoting club meeting at ANA convention||205.54|
|19.||Coasters "Good for $1 in Trade" used at ANA convention||365.31|
|20.||Payments due from 1998 Auction
|21.||Guide to ANA exhibits (Chicago Coin Co.)||244.63|
|22.||Postage expense - mailing giveaways to British Museum||6.65|
|23.||New membership cards for year 2000||70.69|
|24.||Secretary of State annual report $5; Change registered agent $5||10.00|
|25.||Letters for Cabeen Awards||29.28|
|Total All Expenses||$ 22,381.30|
|Balances as of 12-31-99|
|TCF Checking||$ 2,991.93|
|Dreyfus Money Market||2,619.54|
|Bank ONE CDs||2,521.40|
|Total Cash 12/31/99||$ 8,132.87|
|Date:||October 11, 2000|
|Location:||Bank One Plaza Building (formerly the First National Bank Building) 18th Floor, on Dearborn between Madison and Monroe. Enter the building at the South entrance of the Dearborn side, sign in at the security desk and take the elevator to the 18th floor.|
|Featured speaker:||Tom DeLorey - A Workshop for Their Gain? - Modern Errors, Accidental or Not|
|What is going on at the mint? Not only does it seem that a new error piece hits the market every few weeks, but look at those errors. These are things that haven't happened here before! Or have they? Join Mr. DeLorey as we try to understand what is happening at the mint.|
|Oct||11||CCC Meeting - Featured Speaker - Tom DeLorey on
A Workshop for Their Gain? - Modern Errors, Accidental or Not.
|Nov||8||CCC Meeting - Club Auction - no featured speaker|
|Dec||13||CCC Meeting - Annual Banquet Meeting - Featured Speaker and other details to be announced.|
|November||5||Scott E. Douglas||1996|
|November||8||Brian A. Heil||1981|
|November||11||J. Vincent Swift||1991|
|November||13||Michael B. Doran||1999|
|November||24||Jeffrey F. Bernberg||1975|
ECE Dept, IIT
3301 S. Dearborn
Chicago, IL 60616
|Carl Wolf||- President|
|Steven Zitowsky||- First Vice President|
|Robert Feiler||- Second Vice President|
|Other positions held are:|
|Richard Hamilton||- Secretary Treasurer|
|Paul Hybert||- Chatter Editor|
|Phil Carrigan||- Archivist|