Petoskey resident David Clink recently acquired a unique piece of Boyne history with the First National Bank of Boyne City five dollar note pictured (front and back) above.
The bank was founded in 1908. Frank Kaden (1862-1953) was President of the First National Bank of Boyne City #9020 and he later owned Kaden Ready to Wear Store started by Henry Kaden in 1903.
Clink knew his daughter, who owned the Coffee Mill store in Boyne City on Water Street when he worked for Boyne City Ace Hardware store in 1976.
Jim White, who owned the hardware store, rented the apartment above her store when he first came to Boyne City. According to Clink, Kaden’s daughter said she had eight Bonye City Bank notes because her dad’s signature was on them.
Clink said he bought this 1902 five-dollar note from a big collector in Louisiana who had two for sale.
The Federal Treasury printed $5 and $10 large notes of 1902 and $5 & $10 small notes of 1929.
Clink also purchased the Petoskey National bank’s safe back in 1986. It was used from 1878 until 1918 when the first walk-in safe was used. The old safe weights over 7,000 lbs and if Clink is able to get a Petoskey note, he figures it will be over 102 years since that note sat in this safe at the bank in Petoskey.