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Proof of the Month: Progressive National Bank

By Peter Huntoon

Notes from The Progressive National Bank of Summit, Miss., charter 10338, simply have not turned up. This is no surprise, because the bank lasted only two years between 1913 and 1915, when it was liquidated to become a state bank with the same name.

During its brief life, the bankers pressed 980 sheets of 1902 Date Back 10-10-10-20 notes into circulation. Notice that they bore the scarce Napier-Thompson Treasury signature combination. This bank and Columbia (10326) were the only two banks in the state to get them.

Summit was a railroad town situated in the southern tier of counties directly north of the Louisiana state line. It derived its name because it was thought to be the highest point on the Illinois Central Railroad between New Orleans and Jackson, Tenn. However, nearby Brookhaven turned out to have that distinction.

 

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 More Collecting Resources

• Order the Standard Catalog of World Paper Money, General Issues to learn about circulating paper money from 14th century China to the mid 20th century.

• The Standard Catalog of United States Paper Money is the only annual guide that provides complete coverage of U.S. currency with today’s market prices.

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