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Auction: 21144 - Bonds and Share Certificates of the World e-Auction
Lot: 14

Australia: Mercantile Bank of Australia Limited, £5 shares, London register, 18[90], #743, scrollwork at left, black printing. The bank, like most others, was involved in the real estate speculation of the 80's. Directors of this bank issued large loans to themselves which they had difficulty repaying when the value of land fell. The Associated banks offered to lend them £100,000 on security but with the condition that the bank offered full disclosure of their books which they failed to do. The bank closed soon afterwards. VF and rare.

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£70