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Montreal, CE- The Mechanics Bank $4 June 1, 1872 Ch. # 430-10-04c. ...
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Montreal, CE- The Mechanics Bank $4 June 1, 1872 Ch. # 430-10-04cThis short lived bank was established in 1865 and failed in 1879, dogged by reports of corruption by its officers. Its failure was so complete that the bank's notes were redeemed at only 57.5 cents on the dollar, even after assessing its shareholders the full double liability they were responsible for under the law. The Charlton catalogue notes that "Notes of this bank are uncommon in all grades; they are very scarce in Fine or better condition." This is an attractive piece which comes from the only issue of this institution. Bright Fine-Very Fine, with a vivid blue "Beauharnois" overprint.
From The Thomas M. Flynn Collection
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