DescriptionMontreal, CE- The Mechanics Bank $5 June 1, 1872 Ch. # 430-10-08a.
This 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. This $5 is the variety with an "A" stamped twice on the face which is not common. PMG Very Good 8, with some splits and a minor annotation.
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