The Collection of British and Irish Banknotes formed by the Late Edward Barnby

British Provincial, Cumberland, Workington, Workington Bank, One Guinea, 3 June 1809, no. 192/302, for Wood, Smiths, Stein & Co, signed by Walter Wood (Outing 2428A; Grant 3318). Bankruptcy stamp on back and pinholes, otherwise about very fine
£120-150

This lot was sold as part of a special collection, The Collection of British and Irish Banknotes formed by the Late Edward Barnby.

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The Workington Bank, established in the wake of an agreement between the mining magnate John Christian, later Curwen (1756-1828) and Walter Wood, banker, Benjamin Thompson, solicitor, David Fletcher, ropemaker and Robert Smith in Workington, opened for business in 1801. Previously, Curwen’s own notes, first issued in 1797 (Finlay, p.48) had circulated, but Curwen scrupulously redeemed all his outstanding scrip in order to promote the Wood issues. The failure of the London-based bank of Kensington, Styan & Adams in 1812 led to the Workington Bank being declared bankrupt with total liabilities of £120,000