Provincial and Suburban Bank Limited - Australian private issues banknotes - Notes of Australia - Coins and Australia - Coins and Australia

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Provincial and Suburban Bank Limited - Banknotes

The Provincial and Suburban Bank Limited was founded in the Melbourne suburb of Collingwood in 1872. The company moved to the city of Melbourne soon afterwards. Management was corrupt with accounts being falsified until a point was reached where collapse was inevitable.

After only 7 years of operation, the bank was forced into liquidation on 12th May, 1879. The manager and directors of the bank were prosecuted and fined for fraud and false pretences for using depositors money to purchase shares in the bank and for continuing to operate after they knew that the bank was insolvent.

Spurious 10 and 5 pound issues exist, often signed and dated after the company had failed.

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