The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-03-05
Aeolian Company
10 West Twenty third Str eet
New York City
THE $40 TREASURY NOTE OF 1918.
Ono Which Recently Turned Up in This City
Was Removed from n Rat's Nest.

THE SUN recently printed q story about a
ten-dollar Treasury note OF the series OF 1915
which had been forwarded by the Fourth Ma
tional Bank OF this city to the Treasury De-
PARTNER for redemption. When 1t came into
tho Sub-Treasury 1t was an utter stranger to
every one. No one there had ever before seen
one OF them. and there was some question at
first about its gonuineness and there were no
available funds with which to cash it. 1t was
finally determined to redeem the note. for it
was found-to be genuine and much interest
was expressed in its history. At that time
THE SUN traced 1t through the Fourth Ma
tional Bank to the First National Bank Of
Westfleld, Mass. where the trail was lost for
the time. Publication of the character OF its
reception by the Treasury Department led.
however. to a further development Of its past.
Loring Z. Lane. cashier Of the First Ma
tional Bank Of Westleld. finding the interest
which had been aroused in the note. under
took to trace 1t. He discovered in his bank
that it had been deposited there by Joseph
WEIGH. a dealer In general merchandise at
West Granville. Mass. He cut out THE SUN
story about the note and sent it to Mr.. WEIGH
with the request that he tell where he got it.
Mr.. WEIGH responded with this letter:
-, WEST GRANVILLE. Mass. Feb. n. 1893.
DEAR SIR, In regard to. that note. it is as
follows: In the year Of 1871. March 25. | was
working Tor q man Of the name OF Cyrus Phelan.
and as 1 was coming from the maple orchard
with a load OF maple syrup. / heard. on near
Ing the house. quite q commotion. ran into
the house. and found on entering. the house on
fire behind the mantel frame. / got a bar and
tore the frame Town and put the fire out.
The old lady, Mrs. Phelan, on taking out the
POOR. mutIlated $40 bill. 1t was given to me
by Mrs. Phelan and ] have kept 1t until | gave
II, TO YOU for redemption. Can you tell mo
what, paper and date you got this Clipping
'fG Mr. La a1el fin ntH,yi forwarded S n, w sEiTsI let
tor to THE SUN. stating that he had been un-
able to further trace the bill owing to the fact
that both Mr.. and Mrs. Phelan are dead.
When the note first reached the Sub-Treas-
airy quite n fuss was made over it. 1t was sent
to Washington and submitted 10 all the en-
perts. who declared, after numerous inspec-
lions. references and conferences. that 1t was
genuine and belonged to the series Of 1915.
This series was authorized on Feb. "a, 1915.
TO pay arrearages in the EXPENSES OF the war
OF 1872. The issue was for $2J,OOO.OOO origi-
notes on their conversion into bonds. OF this
amount SS,3o2.384 was actually issued ana
~ $40 reissued.
The notes. were redeemable IN nine years
or convertible into Government bonds, Near
ly all OF the issue was sooiI retired. The last
note received at the Treasury prior to the one
1912.
The note being genuine, It became necessary
for Uncle Sam to pay 1t, for he IL not u repu-
diator. even on a small scale. Treasurer Rob.
erts ordered that 1t be made chargeable to the
public debt matured prior 10 1851.