Private Bank Issues

Lot 1545       Private Bank Issues

Estimate $4,000
Bid at live.noble.com.au
SOLD $4,000

BANK OF PARRAMATTA, Parramatta, one pound, not dated except 183-, printer's proof, on printed unwatermarked paper, imprint on left 'Silvester & Co., sc. 27 Strand, London', vignette of sheep with wreath in centre, to left in ornate style of caligraphy various letters forming the name H.H. Macarthur within a block, black on white, (Vort-Ronald fig 99, [p.96] illustrates the other known note, which was sold Spink Noble Sale 37, lot 2734, the pedigree noted for that note was incorrect). Minor error of a paper fold in printing, otherwise extremely fine and extremely rare, being the second known specimen.

Ex. Spink & Son (Australia) Sale No.1 (lot 139), where it is illustrated. $$ A proposal to establish a bank in Parramatta in the 1830's was not proceeded with even though notes were prepared and printed for issue. The printer's proof's were prepared in London and the issuer was Hannibal Macarthur (as noted by the sheep in the vignette and his name in the block on the left). This note was previously believed, to be a note prepared for issue for the Parramatta Trading Bank, formed by Thomas Wright, who embezzled funds from this and other banks before its quick demise. He was subsequently sentenced to 14 years in Norfolk Island. The problem is now resolved, and the issue is for a projected Bank of Parramatta. It still remains an area for further research.