Statistics for occurrence #1 of “Colonel Gibbes” in chapter 1.54, section c.1.54.61, page 203 of Southern Historical Society Papers, Volume 35.:
Naturally holders of bonds could claim any such funds.
The price of these cotton bonds then went up as high as 10 cents on the dollar, due to this foolish rumor.
In the cellar of his home, Colonel Gibbes had stored hundreds of thousands of dollars in ordinary Confederate bonds and in cotton bonds.
The paper was heavily sized or starched, and had been a toothsome find for mice and roaches.
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