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Farmers & Merchants National Bank of Los Angeles, 1903-20 Specimen Stock Certificate

Currency:USD Category:Coins & Paper Money / Stock & Bond - Certificates Start Price:75.00 USD Estimated At:120.00 - 200.00 USD
Farmers & Merchants National Bank of Los Angeles, 1903-20 Specimen Stock Certificate
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The auction will take place on Wednesday, September 22, 2021 at AIA's office located at 1060 Main St., Suite #202, River Edge, NJ 07661 beginning at 11:00 AM
Los Angeles, CA. 100 Shrs Stock Certificate. Black on blue border and underprint, AU condition, Specimen. Security BNC. The Farmers and Merchants National Bank was founded in 1871 by Isaias W. Hellman, who was a successful merchant, real estate speculator and banker, and also by John G. Downey, the seventh governor of California. The bank was started with only an initial capital of $500,000 from 23 prominent Los Angeles businessmen, with the largest investments coming from both Hellman and Downey. Its original location was at the Pico Building, on Main Street, between what is now US 101 and Temple. However, a one-branch downtown bank was eventually seen as not likely to continue to grow. In 1956, it merged with Security First National Bank, which became in later years Security Pacific National Bank, and ultimately was acquired by the Bank of America.