Mohawk and Montreal Cons. G. & S. M. Co.
Nevada Co., Mohawk Mill, CA
1869
$300.00
Very Rare
Very Early Serial Number (5)
Company Draft/Time Draft
Castenholz lists no California drafts with the B17 imprint
Manuscript indicates “Seventy days from date,” a clear contraindication of the B17’s instructive clause “Good only for checks and drafts payable at sight.” While no punitive measures were attached to violations of such clauses on revenue stamp imprints, this financial instrument nevertheless constitutes an illegal usage as follows:
The tax on time drafts was 5¢ per $100 or fraction thereof. Thus, this item reflects underpayment of the tax by 3¢ and the issuer was therefore in violation of the law.
Violet red on white. Folds, minor discoloration, old-time tape reinforcement on the back closes separation along a crease at bottom.