Probably a custom design - not a font: Look at all different |A|s, |R|s, |O|s...

Okay, Thanks!

Very "Victorian" BTW. You may find interesting to have a look to some tags and search at MyFonts (Victorian,Victorian, ornamental, Art Nouveau, Art Deco...), their "More Like..." suggestions (middle right, "More Like Victorian"), Jeff Levine's, Nick's Fonts, Scriptorium's, Solotype's, Greater Albion Typefounders and Letterhead Fonts
Using these tags and references, I quickly found Victorian, Rochambeau and Livery Stable. Obviously not matching but not so far.

Thanks for the useful info!

Ryuk: You cited "Solotype's Greater Albion Typefounders". I don't believe that there was any connection between the late Dan Solo and this Australian foundry.
- Herb

WOW, Herb, great eyes :) I simply forgot a comma after Solotype's, I stand corrected :D

Great, slow eyes, 6 months later.