The Federal Bank of Australia Ltd. Issued to Maria Metcalfe of Melbourne, Victoria, Australia.
[Registered address not listed].
19 May 1887.
Capital: 2,000,000 pounds in 400,000 Shares of 5 pounds each.
Certificate No. 2796.

Obverse Description

Printed on white stock, both sides, black printed lettering and black handwritten text. Company name appears in calligraphic script. There is an elaborate cartouche on the left hand side bearing the company name and coat of arms.


The scrip is significant as an example of the extensive land speculation that occurred in Melbourne in the 1880s. The Federal Bank was founded by James Munro in 1882, and the funds used to speculate in suburban real estate. The bank closed in January 1893; a court investigation discovered that Munro, his family and business associates had borrowed large sums from the bank, to prop up their other failing speculative enterprises.

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