British Provincial, Devon, Exeter, City Bank, Five Pounds, 21 January 1888, D 578, for John Milford, Thomas Maitland Snow and Thomas Snow, signed by Thomas Snow (Outing 757G; Grant 1113). Signature crossed through and ‘Cancelled’ written across front, small holes on left side, otherwise very fine, rare £500-600

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 City Bank, the third such institution to open in Exeter, was founded in 1786 by Samuel Milford (†January 1800, aged 63), a serge and woollen merchant, and Richard Hall Clarke. In 1800 the bank suffered a serious robbery and payments were suspended for two months. When the bank reopened, Milford’s nephew, Samuel (1761-1829) led the newly reconstituted partnership until his death and the partners at the time of the issue of this note were John Milford, Thomas Maitland Snow (1817-99), of Cleve House, Exeter, mayor in 1863, and Thomas Snow (b. 1852), his son, who was mayor in 1889. The bank amalgamated with their city rivals, Sanders & Co, in 1901