Watch List notes:

Russian Government. Specimen Treasury Bill 500,000 Pounds, 31 January, 1918.
Pen notation "073693 17.1.18" upper left. Issued by the "delegation of the AMBASSADOR OF RUSSIA IN LONDON". Payable at: 'MESSRS. BARING BROTHERS & CO. LIMITED, LONDON". Two single punch cancels in blank signature area. Light residue on back from mounting in Specimen book.
Extremely fine.