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Hugh Montgomery and Co. The Northern Bank


Banknotes of the Irish Private Banks
Hugh Montgomery and Co. The Northern Bank
1809-1824 converted



Belfast, Ireland mapHugh Montgomery and Co. The Northern Bank One Pound 1819

The Northern Bank - 2 Series, 3 Partnerships



Montgomery's Bank

Hugh Montgomery established The Northern Bank on 1st June 1809 with partners John Hamilton, James Orr and John Sloan.

John Hamilton had been a partner in the earlier Belfast-based private bank of John Ewing & Co. The Northern Bank went through two partnership changes with James Orr taking over as lead partner upon the retirement of Hugh Montgomery in 1820. The bank was known both as 'The Northern Bank' and as 'Montgomery’s'.


Northern Bank 1824 conversion to a joint stock bank

The Northern Bank converted itself into The Northern Banking Company in 1824, the first joint stock bank in Ireland.


Montgomery's Bank Note issues


Montgommery's Bank became an important note-issuing bank in the north east of Ireland in the early 1800s. Together with the two other banks established in Belfast around the same time, Tennant's Bank (est.1809) and Gordon's Bank (est.1808), the notes of Montgomery's replaced gold coin in circulation. All notes were denominated in Sterling.

Banknotes of Montgomery's Bank are very rare.


Two Series of notes known for Montgomery's

There appear to be two Series by design, although this may prove to be three when more examples of One Pound notes become available for study.
Series 1. Denominations recorded: £1, 30 Shillings, £2.
Series 2. Design modified. Denominations recorded: 30 Shillings.

Three Types by partnership.

Type A. Hugh Montgomery, John Hamilton, James Orr, John Sloan (1809-1820)
Type B. James Orr, John Sloan, John McCance, Hugh Montgomery Jnr. (1820-1824)
Type C. James Orr, John McCance, Hugh Montgomery Jnr., John McNeile (1824).

Denominations recorded: £1, 30 Shillings, £2 notes recorded.


Series 1, Type A

Northern Bank One Pound 1819, Hugh Montgomery
Northern Bank One Pound 1819, Hugh Montgomery, John Hamilton, James Orr, John Sloan


Northern Bank 30 Shilling note 1810
Northern Bank 30 Shilling note, with Hugh Montgomery as lead partner


Hugh Montgomery Northern Bank 2 Pounds 1813
Northern Bank £2 note, issued in 1813 with Hugh Montgomery as lead partner


Series 1, Type B

Northern Bank One Pound 1823, James Orr
Northern Bank £1 issued in 1823 with James Orr as lead partner


Series 2, Type C

Northern Bank 30 Shillings 1824
Northern Bank 30 Shilling note issued in 1824 with James Orr as lead partner




References
Young, D. (Nov-Dec, 1974). "The Private Banks and Their Notes, The Northern Bank Montgomery 1809-1824", Irish Numismatics Magazine, No. 42. pp. 217-220.






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