Spain. Bank of Spain. 1902-1905 Issues. Date: 01.07.1903. Dimensions: 140 x 101 mm. Material: paper. Watermark: head of Mercury / BANCO DE ESPAÑA. No security thread. 4,000,000 issued notes. Printer: Banco de España. Front and back printing in black only. Texts in Spanish. Description of the front: on the left, a man in loincloth standing with his hand on the forehead and holding a shovel in the other (allegory of Industry). On the right, the watermark and below, a naked child on four legs extends a palm branch (allegory of Agriculture). In the center, from top to bottom: the issuing institute "EL BANCO DE ESPAÑA", the words "Pagará al portador", the numbering in black repeated five times, the value in letters "CIEN PESETAS", then the place and date of issue. Three signatures in black. A single combination of signatures with El Gobernador (The Governor), El Interventor (The Comptroller) and El Cajero (The Cashier). Back description: Atocha train station, factories and their smokestacks. In the center, a naked man entwined by a banner leads a Pegasus through the clouds of smoke. A single-sided proof of the front in black is known without overprint, without signature of the Cashier without perforation and without numbering. The specimen is known overprinted "ESPECIMEN" in purple, without signature of the Cashier and without numbering. Very rare issued note.