The Lurgan Bank, Malcolmson's & Brownlow's. 1804-1820

[DOC]

An article in Coin News by Derek Young (IN No.53, P188-189) provides a nice overview of The Lurgan Bank which was based in Co. Armagh. The bank appears to have been founded in 1804 by Joseph Malcomson. William Brownlow took over as lead partner in 1805 and Joseph Malcomson became lead partner again in 1815 after the death of William Brownlow.

Here is an example of a 9 shillings silver note issued in July 1804 with partners Joseph Malcomson, Henry McVeagh, Alexander Cuppage & John Waite.

[DOC]

Few notes of the Lurgan Bank survive. In addition to the 9 shillings silver note, PMI mentions a £1 note dated 1805 and provides an illustration of a 30 shillings contemporary forgery dated 1819. The early notes of the bank were also payable at the office of their agent in Dublin, Jonas Stott, Dominic Street. From 1808, the Dublin agent was changed to Wilcocks & John Phelps, Capel Street.

[Mac]

Kenny and Turner list Lurgan's Banks as having failed in 1820. The rarity of its notes might suggest that they may have largely been paid off.

[Mac]

Here is a link to a biography of William Brownlow. As well as being a banker, he was an MP, and strongly opposed the Act of Union.
dib.ie/biography/brownlow-william-a1062

[DOC]

Very interesting. That site is a great find and a treasure trove of information .

[Mac]

There is a lot of background information on many persons involved in the Private banks, with very well referenced entries, and contributors such as S. Cromien. A good resource.

[DOC]

This Lurgan Bank 1 Guinea note dated 1814 recently appeared at a Noonan’s auction. It features William Brownlow as lead partner along with Joseph Malcomson, Henry McVeagh and Alexander Cuppage. Notes of the Lurgan Bank are rare and this note achieved a hammer price well in excess of its estimate.

[Mac]

Not many examples of notes from Lurgan Bank turn up.
Scarcer private bank notes have been doing well in recent auctions.