Private Bank Issues

Lot 1606       Private Bank Issues

Estimate $1,000
Bid at live.noble.com.au
SOLD $2,000

THE SYDNEY DEPOSIT BANK, Sydney, one pound, dated 1 July 1890, (18 printed), numbered A 0020, signed for manager Y.S. Richards and countersigned by uncertain signature, on paper, unwatermarked (?), imprint of 'Sands McDougall Limited', vignette in centre as arms with settler and aborigine above motto 'I Take but I Surrender', ornamental circular tablets with 1 in top and lower right corners, and Ã…â€Å‣ ONE in tablet lower left, all within rectangular ornate border inscribed 'N.S.WALES', states below, 'I Promise to pay the Bearer One Pound Sterling on demand value received at Sydney. For the Sydney Deposit Bank', with blue ONE across centre with additional geometic designs, back with large central ONE POUND and 1 in all corners in ornamental rectangular frame, an emu and kangaroo from Australian arms are arranged on either side of central denomination words, on back various signatures, blue and black on white/blue on white, (Vort-Ronald, this note cited, comments on bank and type p.218-219, Tomlinson type illustrated [proof] [p.94-5]). Many folds and creases, rough edge with many tears, a few minor pinholes, otherwise good and very rare.

Ex. Spink Australia Sale 1 (lot 128). $$ A small bank that was active from 1885-1892. It's note issue was also very small and is believed to be initiated as a means of obtaining additional capital. This note is also the earliest known numbered note which apparently began on July 1, 1890 and lasted probably until a time near its collapse. Proof notes are much more common than circulating notes.