The Limerick Bank Michael Furnell & Co. 1804-1806

Banknotes issued by Irish Private Banks ca1700–ca1833
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The Limerick Bank Michael Furnell & Co. 1804-1806

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Micheal Furnell registered a bank Known as The Limerick Bank on 26th March 1804 with fellow partners Mathias Woodmason and Henry Bevan. The bank was short lived and failed in 1806. Few notes have survived. Here is an example of a silver note for 3s 9½d from 1804; an odd denomination which was the equivalent of 1/6th of a guinea.
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Limerick Bank Michael Furnell & Co. 3s 9d Halfpenny 8th May 1804.jpg
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Re: The Limerick Bank Michael Furnell & Co. 1804-1806

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A similar sized note for 3s 9d Halfpenny was issued by Ffrench's Bank, Tuam in the same era. and the design layout of the Ffrench's note is not dissimilar!

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Re: The Limerick Bank Michael Furnell & Co. 1804-1806

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Yes, the designs are comparable and suggest a common engraver.

Here is a Limerick Bank 5 Guineas unissued note bearing the date 17th March 1804. This may be an early prototype design for this denomination.
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Limerick Bank Michael Furnell & Co. 5 Guineas 17th Mar 1804.jpg
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Re: The Limerick Bank Michael Furnell & Co. 1804-1806

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The 'Five' on the bottom left looks a bit shaky, though the Arms above it is very ornate and has a lot of detail in it - a good security feature for the note.
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Re: The Limerick Bank Michael Furnell & Co. 1804-1806

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This notice from 1807 outlines details in relation to the sale of lands to settle the debts of Michael Furnell & Co. An interesting aspect is that notes of the bank are to be accepted as payment for any purchases.
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Re: The Limerick Bank Michael Furnell & Co. 1804-1806

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Accepting the bank's own notes in payment is interesting indeed.
I would think that the notes themselves were part of the bank's debts. Perhaps accepting them in payment for the bank's assets was a device to encourage people to bid more using otherwise potentially worthless currency!
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