1877 John Abrams Rockville Centre, NY Promissory Note w/ Int. Payment History

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1877 John Abrams Rockville Centre, NY Promissory Note w/ Int. Payment History:
$24.99

Has a 3 1/2" vertical fold crease separation tear at the top edge, left of center. Expected fold creases from posting. Eye-catching bold legible handwriting. Overall, in good condition. You will receive the exact piece shown in the photos.

It measures approx. 6" x 7 3/4"

Best Effort transcription:

$150— Rockville Centre Oct 2nd 1877

On demand I promise to pay John H Watts or order the sum of One Hundred and fifty dollars with Interest at six per cent for value received John Abrams

[Bottom Section - Payment Ledger]

$9 received for interest on this note interest paid up to October 2nd 1878

$9 received for interest on this note interest paid up to October 2nd 1879

$9 received for interest on this note paid up to October 2nd 1880

$9 received for interest on this note paid up to October 2nd 1881

$9 received for interest on this note paid up to October 2nd 1882

$9 received for interest on this note paid up to October 2nd 1883

Key Details from the Document: The Debt: John Abrams borrowed $150 from John H. Watts.

The Interest: The rate was set at 6%, which accounts for the $9 payments recorded annually ($150 x 0.06 = $9).Location: Rockville Centre refers to the village in Nassau County, New York.

Significance: This is a classic "demand note," meaning the lender could request the full principal back at any time. The ledger at the bottom shows that while Abrams was consistent with interest payments for six years, there is no record on this specific page of the $150 principal being repaid.

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