The Limerick Bank Michael Furnell & Co. 1804-1806

Banknotes issued by Irish Private Banks ca1700–ca1833
Post Reply
User avatar
DOC
UNC
UNC
Posts: 935
Joined: 26 Jan 2015 18:15

The Limerick Bank Michael Furnell & Co. 1804-1806

Post by DOC »

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.
Attachments
Limerick Bank Michael Furnell & Co. 3s 9d Halfpenny 8th May 1804.jpg
Limerick Bank Michael Furnell & Co. 3s 9d Halfpenny 8th May 1804.jpg (113.05 KiB) Viewed 869 times
User avatar
Mac
Taoiseach • Admin
Taoiseach • Admin
Posts: 1640
Joined: 23 Jan 2015 15:05

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

Post by Mac »

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!

Image
User avatar
DOC
UNC
UNC
Posts: 935
Joined: 26 Jan 2015 18:15

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

Post by DOC »

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.
Attachments
Limerick Bank Michael Furnell & Co. 5 Guineas 17th Mar 1804.jpg
Limerick Bank Michael Furnell & Co. 5 Guineas 17th Mar 1804.jpg (111.35 KiB) Viewed 795 times
User avatar
Mac
Taoiseach • Admin
Taoiseach • Admin
Posts: 1640
Joined: 23 Jan 2015 15:05

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

Post by Mac »

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.
User avatar
DOC
UNC
UNC
Posts: 935
Joined: 26 Jan 2015 18:15

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

Post by DOC »

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.
Attachments
Michael Furnell & Co. Notice 1807.JPG
Michael Furnell & Co. Notice 1807.JPG (115.13 KiB) Viewed 713 times
User avatar
Mac
Taoiseach • Admin
Taoiseach • Admin
Posts: 1640
Joined: 23 Jan 2015 15:05

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

Post by Mac »

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!
User avatar
ThePloughman
UNC
UNC
Posts: 274
Joined: 04 Nov 2016 16:37

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

Post by ThePloughman »

That Limerick Bank 3s 9½d is a very nice example of one of the early 'square' designe.
I have always considered it strange for these early currency issues to correspond to coin denominations that did not exist, 1/6 guinea!
User avatar
Mac
Taoiseach • Admin
Taoiseach • Admin
Posts: 1640
Joined: 23 Jan 2015 15:05

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

Post by Mac »

I think the square notes, which tended to be earlier issues were following the Scottish model of note design at the time.
User avatar
ThePloughman
UNC
UNC
Posts: 274
Joined: 04 Nov 2016 16:37

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

Post by ThePloughman »

DOC wrote: 17 Jul 2022 13:03 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.
I like the design of this one, and one of my favorite denominations too.
The detail is very good and well printed, and square like Scottish bills of the time.
And a nice grade too!
Post Reply