Aust Banknotes - Private Bank Issues

Lot 3868    SESSION 15 (7.30PM THURSDAY 30TH MARCH)    Aust Banknotes - Private Bank Issues

Estimate $1,000
Bid at live.noble.com.au
SOLD $600

BANK OF AUSTRALIA, lottery ticket for the disposal of unsaleable assets of the bank, tickets 7968 and 7970, on paper watermarked 'Sydney Banking Company' at top and bottom, issued to Samuel Lyons, Sydney, 19th day of October 1848, signed by the four directors, W J Macleay, J Gilchrist, R Campbell, and T W Smart, imprint H.C.Jervis SC (MVR. p65), with assignation on back of each ticket signed by Samuel Lyons. Good fine and very rare. (2)

Together with photocopy of original list of bank properties Available through the lottery and other background information on the plan of liquidation.

The Bank of Australia was established by John Macarthur and business associates on 8th June 1826. After a healthy start the bank failed on 2nd March 1843. The liquidation of the Bank of Australia resulted in the remaining assets of the bank being disposed of by lottery. Plans for a second lottery in April, 1849 were objected to by the government and it did not take place.

Samuel Lyons was convicted for theft in London and sentenced to transportation for life. After several escape attempts and 200 lashes for robbing the government store in Hobart he married a Roman Catholic woman, Mary Murphy, in 1822 and the following year returned to Sydney where he opened a store in Pitt Street. He finally settled down and in 1825 established his auctioneering business. He subsequently received a conditional pardon in October 1831 and a full pardon on 15 May 1832 based on a recommendation from Governor Darling. His auctioneering business thrived and he became very wealthy and influential. He was also prominent in his community service being on many important committees. His wife died in 1832 and he reverted to his Jewish faith but he never remarried. He died on 3 August 1851, aged 60. All his children were very comfortable and well-to-do thanks to his great success which enabled him to give them the best of educations.

Ex John Houstone Collection.