Early Paper Money of America / Connecticut / 1795 Middletown Bank
The Middletown Bank was incorporated in October 1795 with a capital between $100,000 and $400,000 divided into shares of $100 each. Its debts including bank notes were limited to one and one-half times its capital plus its specie deposits. The bank notes were signed by Elijah Hubbard, president, and Timothy Southmayd, cashier.
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