A Hughes 404 that is a R5, 11 to 25 known.

From endorsements on the back of the one note, it appears that these notes mostly "came back to roost" in 1819. The company had failed in 1817 but somehow got its charter extended to 1820. The lower grade note appears to be serial number 8.


Edge tears and other damage is seen on the one, and minor stains and an annotation on the other.