Private Colonial Banknotes The City of Melbourne Bank Limited


Year(s)Denomination(s)
1877£100, £50, £20, £10, £5, £1

Notes:

The City of Melbourne Bank Limited commenced operations in 1873. Never financially strong, the bank borrowed heavily in the 1889-90 land boom to finance speculative ventures. In this exposed position, it did not survive the financial crisis of the 1890's, suspending payments in 1893. A reconstruction in same year, in an attempt to meet commitments, was not a success and the bank was forced to close permanently in 1895.


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