One Pound (4), all 17 October 1949, B/1 001000, B/1 002000, B/2 002600, B/2 002700, uncut sheet, Morrison signatures, annotated ‘See to registry, copies correct for 25,000 notes of each series, numbered 1-25,000 and 25,000-50,000, 2.1.50’ across part of central margin, three vertical lines of small punch-holes (Douglas 42-1) [4]. Paper residue on back, otherwise good extremely fine £40-60

The bank was granted new arms in 1947 and asked Waterlows to prepare fresh designs for its note issue. The £10 was omitted and the £5, £20 and £100 were reduced in size. £1 notes were printed in sheets of 16, £5 in sheets of four and the £20 and £100 in vertical pairs. All denominations bear the single signature of the general manager