Lot 3000

Description

The Mercantile Bank of Australia Limited, Melbourne, one hundred pounds, dated 1st May 1890, (date fully printed), not numbered, unsigned, no imprint (Vort-Ronald, comments on bank and p.171, and £100 specimen note discussed, Tomlinson p.70 illustrates a complete £100 note with numbers and signature positions and also a 100 undertype). Gum adhesion at back in corners, otherwise extremely fine and extremely rare.

The Mercantile Bank of Australia Limited (1885-1892) was originally the Australian Economic Bank Limited but under its new name, commenced a note issue. Advances on worthless share script resulted in losses to the bank and it suspended payment on the 5th March 1892.