STORY OF £100 NOTE

Hawke's Bay Herald-Tribune, Issue 77, 17 April 1937, Page 15

STORY OF £100 NOTE

Relic of aRevolution

A remnant of a Bank of Englqnd £100 note was sold in Sydney at auctjpn recently for £36. The note, whiclt W'as burnt and ehowed only two figures of its ser-ial number, was the main asset iu the bankrupt estate of Christian 8and@r, a fqrmer pfdeer- in the Whitg Rue?ian army. D,uring the rqvelution in Rnssia in 19,17 and ©bor-tly- afterwards, W§p interned, in Sjberia. He eoupfffed the £jQ0 note and. some jewellery, and later entjusted them tp a brpther- oflicer, who had made plane tq escape frpm Russia. This officer later made his espape, but in doing so his clothes wpre badly burnt and the £10Q note was partly destroyed. Later Sander also made his escape and met.his br°ther offieer in London. When Sander attempted to change the note he was told that there were a large number of notes In circuiation. When these were recalled his claim would be epnsidered, Sgnder then came to Australia and became a shareholder in a dairy produce company.

"He retainpd the bprnt note, and when he became ' bankrupt he produced it as one" pf his assets. Later a letter was xeceived by the Deputy Official Receiver (Mr. Mayne) from the Bank of England* telling him that all except two of the notes* qf thqt particular series' had; been retuvned tp the bank. The bank stated that it wa? prepared to pay £10Q on the note on eondition that suitable surety WW given. The Official Reeeivpr then approach'ed an insurance company, but was.informed that it wotfld bp nepessary for him to give a counter-indemnity before it wquld cover the risk, Mr. Mayne was unable tp do this, as there were no further substantial assets in the estate, so the note- was sold at aqction. Tfle bnyer has taken little risk for a good profit. The proceeds of the note in Australian curreney will be £125, so the profit skould be £89, although ha will have to take the risk of refunding the m0B©y* under guarantee, unfil the bank is setisfied that its own risk has been wiped out.