An IOU from 1895

Within the chest is an IOU signed by Robert Charlton who is borrowing money from William Charlton.

The transcription is:

BILL THREE PENCE OR NOTE

July 18th 1895

I promise to pay to William Charlton of Broomhill on demand the sum of Eighteen Pounds with Interest at Five% pr anuam

Signed Robert Charlton

I think that the ‘Robert Charlton’ who is borrowing the money is probably William’s younger brother who was born at Blackhall Hill, Durham in 1837.

I wonder if the fact that it still exists means that it was never paid back?