Michael Hearn & Co., Callan Bank, 1801-1807
Posted: 12 Dec 2021 12:38
Michael Hearn first registered his bank on 24th August 1801. It was known as the ‘Callan Bank’ and collapsed in 1807 with unpaid liabilities. The bank issued mostly notes of low denomination.
Here is an example of a note for 1 shilling and 1 penny, dated 12th January 1807. The note is issued in the form of a cheque, drawn by the cashier upon Michael Hearn. This appears to be an attempt to circumvent the law introduced in 1805, which banned the issuing of notes for sums less than £1.
Here is an example of a note for 1 shilling and 1 penny, dated 12th January 1807. The note is issued in the form of a cheque, drawn by the cashier upon Michael Hearn. This appears to be an attempt to circumvent the law introduced in 1805, which banned the issuing of notes for sums less than £1.