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A History 
 
 OP 
 
 Banks, Bankers, 
 
 AND 
 
 Banking. 
 
Newcastle-on-Tyne 
 Andrew Dickson, Printer, 30 and 32, High Bridge. 
 
RALPH CARR, 
 The Father of Northern Banking, 
 
 Born lyji — died 1806. 
 
 From a Portrait in the possessioii of John B. Carr-Ellison, Esq., Uedgeley. 
 
A HISTORY OF 
 
 Banks, Bankers, & Banking, 
 
 Northumberland, Durham, and North Yorkshire, 
 
 ILLUSTBATING 
 
 THE COMMERCIAL DEVELOPMENT OF THE NORTH OF ENGLAND, 
 
 FROM 1755 TO 1894, 
 
 WITH NUMEB0U8 
 
 Portraits, Facsimiles of Notes, Signatures, 
 Documents, &c. 
 
 By MABERLY PHILLIPS, 
 
 ASSOCIATE OF THE INSTITUTE OF BANKERS, MEMBER OF THE COUNCIL OF THE SOCIETY 
 OF ANTIQUARIES OF NEWCASTLE-UPON-TYNE. 
 
 London : 
 
 EFFINGHAM WILSON & CO., Royal Exchange. 
 
 1894. 
 

 SPRECKELS 
 
DEDICATED BY PERMISSION 
 
 TO THE 
 
 (Bovcrnor, Dcput^^iBovernor, anb Court of Directors 
 
 OF THE 
 
 BANK OF ENGLAND, 
 
 3n tbe l^eac of its JBWentenarr, 
 
 BY 
 
 THEIR OBEDIENT SERVANT, 
 
 riDaberlp pbilHpa. 
 
 118539 
 
PREFACE. 
 
 T^HE attention of the reader is asked to a few words by way of preface. 
 
 In the year i860 Northumberland became the county of my adoption, 
 and very soon after my settlement I was impressed with the wide and varied field 
 that it offered for antiquarian research. I grew deeply interested in the past 
 records of the county, and became personally acquainted with many present day 
 contributors to the pages of local history. 
 
 There is only one step from admiration to imitation, and soon after becoming 
 a member of the Society of Antiquaries of Newcastle-upon-Tyne, I began to 
 contribute short papers bearing upon unnoticed local incidents of the seventeenth 
 and eighteenth centuries. The investigations necessary for these purposes led me 
 to notice, that while the books on the shelves of our libraries gave many 
 interesting accounts of the various Trade Guilds in which the city is so excep- 
 tionally strong; and the MS. volumes of the "Merchants-adventurers" were full of 
 unpublished records of Hostmen and Boothmen — the merchant princes of their 
 day — no mention was made of Banking, the occupation in which my lot had been 
 cast. The early historians treated of pre-banking days, and the modem writers of 
 history, from some unexplained cause, made the barest possible reference to the 
 bankers. Further search revealed that Newcastle had possessed one of the earliest 
 provincial banks, but there was no written account of it. I therefore contemplated 
 gathering all available particulars of the "Old Bank" of Newcastle, intending to 
 offer the result to the Society of Antiquaries. From Mr. Cuthbert Carr, whose 
 ancestor had founded the bank, I received most generous aid. I also consulted 
 Mr. C. J. Spence, whose father, Mr. Robert Spence, had been a collector of 
 manuscripts and original documents relating to a variety of subjects, amongst 
 others, that of banking. He readily showed me the collection, and generously 
 offered the use of it in any way I thought most desirable. Subsequently, I 
 contemplated a short history of Northern Banking, and upon mentioning the 
 matter to Mr. Richard Welford, the historian of Newcastle, he encouraged me by 
 
w 
 
 saying : — " There is room for such a work as you name ; call it a History of 
 Banks, Bankers, and Banking ; there's your title — gather your information — 
 write your book — and then consider the question of publication." Our conver- 
 sation occurred in the late autumn of 1891. Knowing that 1894 would be the 
 bi-centenary of the Bank of England, withi which for so long a time I had been 
 associated, I determined, that if possible, the result of my labours should appear 
 during that year. Materials soon came to hand far more abundantly than I had 
 contemplated. My original purpose was to confine my attention to the two 
 Northern Counties, but the offer of valuable information from the Whitby district, 
 led me eventually to adopt the somewhat erratic geographical district that I have 
 taken. 
 
 Gradually the work resolved itself into the form and style in which it is now 
 presented to the reader. None knows its imperfections better than the writer, 
 but he trusts that the book may be found worthy of a place amongst the histories 
 upon the library shelf, and the directories in the bank parlour. The account of 
 some of the banks is very incomplete, but it is hoped that the scanty information 
 given, may prove a foundation upon which others can build. My endeavour 
 throughout has been to give first place to the records of banks and bankers of the 
 last century, and, as far as possible, to keep the pages free from information both 
 of a business and personal nature, that could easily be obtained from other sources. 
 Formidable as the work may appear, and although I have exceeded my estimated 
 length by about one hundred pages, yet want of space has compelled an 
 abridgement of the account of some of the firms. My list of present-day banks is 
 taken from the Banking Almanac, with the one exception of the Yorkshire 
 Penny Bank. In announcing their names, the original title as far as possible 
 has been adopted. 
 
 In a work of this kind, doubtless many errors have crept in, and although 
 every endeavour has been made to verify statements, some may be faulty. Much 
 of my information has been gathered from those well advanced in life, whose 
 memories may not have been so reliable as formerly. The work was undertaken 
 as a labour of love, and has brought the writer into pleasant associations, that in 
 
[x^ 
 
 many cases have already grown to friendships. Nearly all the districts embraced 
 have been personally visited, and existing bankers called upon. In almost every 
 case, ready assistance was given, and the greatest courtesy shown. 
 
 It now only remains for me to record my sincere thanks to the numerous 
 friends and strangers, who, as well as those mentioned in the text, have laid me 
 under such heavy obligations. The list is a long one, but I cannot shorten it. 
 The partners in Messrs. Backhouse & Co. and Messrs. Lambton & Co. most 
 generously placed the few records preserved of their venerable institutions at my 
 disposal. Mr. Cuthbert Carr, Mr. William Boyd, and Mr. G. F. Boyd, furnished 
 much of the material from which the account of the Old Bank is compiled. Mr. 
 Richard Welford, Mr. J. C. Hodgson, and Mr. Horatio Adamson, have greatly 
 assisted me in the personal accounts of many of the bankers. To Mr. John 
 Chapman Walker of Whitby and Mr. G. W. Waddington of Grosmont, I am 
 indebted for much of my information of the bankers in the Whitby district, and 
 to Mr. A. Simpson of Meadowfield, Whitby, for the photos of the partners in 
 Messrs. Simpson, Chapman, & Company. Sir Joseph W. Pease kindly furnished 
 the information that enabled me to compile the account of his firm. Sir John 
 Evans, Messrs. Roper and Priestman, Mr. J. W. Woodall, Mr. Embleton, Mr. 
 J. S. Jobling, and Mr. Ness Walker, by the loan of various notes have greatly 
 aided me in the number of specimens I have been able to produce. Dr. Hodgkin 
 penned for me the account of Messrs. Hodgkin, Barnett, Pease, and Spence. 
 Mr. Joseph Foster, of genealogical fame, favoured me with the portraits of the 
 past partners of Messrs. Backhouse & Co. To Mr. Knowles I am indebted for 
 permission to copy his drawing of the Town Hutch, and to Miss E. P. Phillips 
 and Mr. Samuel Richardson my thanks are due for many drawings that lighten 
 the text, while Mr. J. W. Pease of Pendower has enhanced the value of the work 
 by the loan of notes and plates from his valuable " Bewick collection." Mr. 
 William Hodgson of Darhngton has been a constant correspondent, and gathered 
 for me the Backhouse signatures, and much other valuable matter. Mr. Ralph 
 Nelson of Bishop Auckland has been much interested in the work, and has 
 frequently helped me with items of information from his extensive collection. 
 
[xi] 
 
 Mr. Joplin of Chelsea, Mr. J. E. Woods, and Mr. B. Dale, furnished the portraits 
 in which they were severally interested. Mr. Matthew Mackey, jun., placed his 
 rare collection at my disposal, from which many illustrations and documents have 
 been utilised. Mr. Norman from his unique collection of Trade tokens favoured 
 me with many choice specimens. Mr. R. H. Inglis Palgrave afforded me the 
 hospitality of Belton, and devoted an evening of his valuable time to shaping my 
 course ; he also suggested and revised my remarks upon the note issue of 1793. 
 
 My thanks are further due to the proprietors of the Newcastle Chronicle, 
 the Newcastle Journal, the Durham Chronicle, and the York Herald for free 
 access to their valuable files of papers ; for the comfortable accommodation 
 afforded during many weary hours of searching ; and for the editorial interest that 
 they have manifested in the subject. Doubtless these files yet contain many other 
 interesting items, as it was utterly impossible to wade through all the papers 
 published during the century and a half that my work covers ; but the periods 
 of panic have been carefully searched. Valuable aid has also been rendered by 
 the courteous assistants at the Newcastle Public Library, and by Mr. Richardson, 
 the librarian at the Literary and Philosophical Society, Newcastle. 
 
 My thanks are due in no ordinary degree to Mr. C. J. Spence, who not only 
 lent me the collection previously referred to, but at my suggestion penned for me 
 Chapter IH. of this work, selected the interesting examples shown, prepared the 
 specimens, and generously presented the needful blocks, further adding to the list 
 the clipped coins, the "hard hedde," and the portraits of his father, grandfather, 
 and late partner, Mr. Bamett. To him I am also indebted for the greater part of 
 the account of the Union Bank. 
 
 To the subscribers who have so readily responded to my circular, I tender 
 my hearty thanks, especially to those who promptly replied. They speedily 
 relieved my mind from the anxiety of undertaking, singlehanded, the responsibility 
 of such an expensive publication, and further enabled me to increase the book by 
 about one hundred pages, and to add the mounted photographic groups that 
 enhance its value. I am much indebted to Mr. R. E. Ruddock for enabling me to 
 
[xin 
 
 carry out this part of the work, and for the expeditious manner in which the 3,000 
 photographs necessary for the first issue were executed. My printer and his staff 
 have also given me every attention. The labour of reading my proof sheets has 
 been kindly carried through by Mr. James Finlay Ogilvie, who has also given many 
 valuable suggestions. I am also indebted for assistance to Mr. Seymour Bell, 
 Newcastle ; Mr. John Bousfield and Mr. H. Bigland, of Darlington ; Mr. C. D. 
 Barker, Great Malvern ; Mr. John Braithwaite, Gosforth ; Mr. E. E. Bigge, London ; 
 Mrs. Bulman, Cullercoats ; Rev. J. G. Bulman, West Enfield ; Mr. Henry 
 Chaytor, Witton Castle ; Mr. G. A. Buncombe, Beverley ; Mr. J. Dinsdale, 
 Stockton; Mr. W. Forster, Darhngton; Mr. S. Hoare, Cromer; Mr. W. H. Jacob, 
 Winchester; Mr. W. W. Morrell, York; Mr. G. Orton Owen, Newcastle ; Mr. W. 
 H. Robinson, Newcastle; Mr. W. W. Tomlinson, Whitley; Mr. R. R. Watson 
 (a member of Messrs. Backhouse's Newcastle staff in 1836) ; Mr. O. B. Wooler, 
 Darlington, and many others who have favoured me with letters and fragments 
 of information. 
 
 There is one (whose name I am not allowed to give) who has worked with 
 
 me from first to last, and willingly devoted two summer holidays to visiting the 
 
 places and gathering the materials necessary for the work. If this volume should 
 
 be found to form a humble link in the historical chain of the county's history, to 
 
 her is the honour due, as it was at her solicitations that I faced the heavy 
 
 responsibility of publication, and it is only by her untiring zeal and valuable aid 
 
 that the work has been accomplished. 
 
 MABERLY PHILLIPS. 
 
 Whitley, 
 
 R. S. O., Northumberland, 
 October, i8g^. 
 
[ xiii ] 
 
 CONTENTS 
 
 PART I. Page i to 129. 
 
 Chapter I. Banking in London. 
 
 Do. II. Banking in Scotland. 
 
 Do. III. Incidents prior to Provincial Banking. 
 
 Do. IV. Provincial Banking, 1755 to 1775. 
 
 Do. V. Provincial Banking, 1775 to 1790. 
 
 Do. VI. Provincial Banking, 1790 to 1800. 
 
 Do. VII. Provincial Banking, 1800 to 1810. 
 
 Do. VIII. Provincial Banking, 1810 to 1820. 
 
 Do. IX. Provincial Banking, 1820 to 1830. 
 
 Do. X. Provincial Banking, 1830 to 1840. 
 
 Do. XI. Provincial Banking, 1840 to 1894. 
 
 Do. XII. Coining and Clipping, Tontines and Lotteries. 
 
 PART II. Page 132 to 432. 
 
 Banks Reviewed (alphabetically arranged). 
 
[xiv] 
 
 SYNOPSIS OF CHAPTERS. 
 
 PAGE. 
 
 Chapter I. — Banking in London. Introduction of Banking — The Jews — They invent Bills of 
 Exchange — Work in precious metals— Advance on securities — Massacre at York — The Lombards 
 — They teach their arts to the Londoners who become Goldsmiths — Charles I. seizes cash in 
 the Mint — Charles 11. closes the Exchequer — Goldsmiths develop into Bankers — Pamphlet on 
 the "Mystery" of it — Treatment of "juniors" — Bank of England established — William 
 Paterson the originator — Its Charter — Began business in Grocers' Hall — Object of its formation 
 — New premises built in 1734 — Original building— Bank at the present day — Pass-books 
 introduced — Cheques originated — Provincial Banks commences . . . . . . . . 1 
 
 Chapter II. — Banking in Scotland. North-Humber-land more affected by Scottish than by 
 London Banking — Bank of Scotland founded in 1695 — Notes issued — One Pound Note — Bank 
 stopped payment in 1704 — Importance of Note issue — Branches started — Charter expires — 
 Free Banking — Royal Bank of Scotland — War between the Banks — Bank of Scotland stops 
 payment in 1728 — Optional Notes — British Linen Company become Bankers — A mutual foe — 
 Banking Company of Aberdeen — Its failure — The " Ship " Bank — " Glasgow Arms " Bank — 
 Notes paid in Sixpences — Private Bankers — John Coutts of Edinburgh — Connection with 
 Newcastle — Rapid Development of Banking in Scotland — Publicans issue notes — Forgery on 
 the " Thistle " Bank . . . . . . . . . . . . . . . . . . 6 
 
 Chapter III. — Incidents Prior to Provincial Banking. Early use of coined money — The Northum- 
 brian " Styca " — Silver Pennies — Their almost exclusive use till the reign of Edward III. — 
 Establishment of Local Mints and Provincial Exchanges — Account of York Mint — Durham 
 Mint — Newcastle Mint — Specimens of various coins — London and Provincial Trade Tokens — 
 Counterfeit Copper — The new Copper Coinage of 1797 — Silver Tokens — Set issued by John 
 Robertson of Newcastle — Carriage of Treasure — Money hidden — The Will of Richard Belassis — 
 Robbery of Gold — The Town Hutch — Towers of the Guilds — Assay Office opened in Newcastle — 
 " The Pretender " in Scotland — Duke of Cumberland in Newcastle — Cash wanted for Troops — 
 Ralph Can supplies it — George Campbell suggests Bank in Newcastle . . . . . . 11 
 
 Chapter IV. — Provincial Banking — 1755 to 1775. Ralph Carr forms first Provincial Bank, 1755 — 
 Mail guarded — Coiners at work — Lottery Tickets issued — Subscriptions received — Difficulties of 
 Postage — Exchequer Bills — Foreign Gold — Newcastle Forgery — " Exchange " Bank — " Bogus " 
 Notes — Robbery of Mail Bags — Hazlet hung in chains on Gateshead Fell — Clement, first 
 Banker of Darlington — First Panic, 1772 — Notes guaranteed — List of Names — Coaches will not 
 carry Money — Roberts, the Coiner, executed — Small Paper Money — J. & J. Backhouse's 
 " Banking Shop " started — Light Gold — Smugglers clear the country of it — Increase of Small 
 Notes . . . . . . . . . . . . . . . . . . . . . . 24 
 
 Chapter V. — Provincial Banking — 1775 to 1790. Acts restraining the issue of Notes under £5 — 
 Tyne Bank commenced — Early Forgery of their Notes — Robert Knowles, Postman, executed — 
 Several new firms start at Whitby, Darlington, and Stockton-on-Tees — Commercial Bank 
 opened in Newcastle — Simpson & Chapman, Whitby — Meeting of Bankers at York to oppose 
 Tax on Receipts, &c. — Mr. Carr retires from the Old Bank — Formation of Davison-Blajid & Co. 
 
[XV] 
 
 PAOB 
 
 — The " Nabob's Bank " — R. J. Lambton & Co. — Newcastle Bankers' Association — Records of 
 their Meetings — Bad State of the Copper Coinage— Quantity of Base Copper — Notices in the 
 Newspapers regarding Counterfeit Half-pence — Scale-de-Cross Bank — Official Instructions as to 
 sending Notes by Post — Gordon Riots — Bank of England in danger — Note Circulation in 
 Yorkshire— Risks of Travelling . . . . . . . . . . . . . . . . 32 
 
 Chapter VI. — Pbovincial Banking — 1790 to 1800. England at peace — New banks open — " Optional" 
 Notes — War with France — Panic in London — It spreads to the provinces — Difficulty of obtaining 
 specie — Newcastle banks suspend payment — Meetings held in their support in the principal 
 towns in the north — Guarantee Fund started — Panic said to have originated in Newcastle — 
 Statement shown to be incorrect — Mr. Bagehot's theory confirmed — Notes displace gold — Private 
 estates of bankers liable for trade debts — Commercial Bank winds up— Forged French assignats — 
 Harriet Martineau— Her connection with Newcastle — Pitt and the Bank of England — Fear of 
 French invasion — Government orders returns of farm implements, etc. — ^Panic amongst the 
 farmers — Run on Newcastle banks — They suspend — Meetings in their support —Letter from 
 Charnley — Difficulties of the Bank of England — Cash payments prohibited — City Merchants 
 support Bank — Issue of £1 and £2 notes — Great fall in stocks . . . . . . . . 46 
 
 Chapter VII. — Provincial Banking — 1800 to 1810. New banks opened — Letter from Thomas 
 Bewick — Suspension of Surtees, Burdon, & Co. — Panic of 1803 — Bankers' Notes again 
 guaranteed — The original document — Wear Bank in difficulties — Its notes supported — Cook, 
 Robinson, & Co. suspend payment— Shadforth, Batson, & Co. dissolve partnership— List of 
 public holidays —Alteration of Stamp Act . . . . . . . . . . . . 68 
 
 Chapter VIII. — Provincial Banking— 1810 to 1820. Scarcity of Silver — Issue of trade tokens — 
 Whitby and York Shillings — Riot in Sunderland — Issue of Spanish Dollars from the Bank of 
 England — Bank Tokens — Dollars and Tokens in the North of England — Backhouse & Co. — New 
 Silver coinage — Tradesmen issue paper money — Gold much appreciated — Parliament take up 
 the matter — Act regarding Licenses — No Collection of Bank Notes — New banks open — Panio 
 of 1815 — Banks supported — Messrs. Cooke's bankruptcy — Loraine, Baker, & Co. decline business 
 — Newcastle banks again supported— " Montague " Bank — Establishment of Savings' Banks — 
 Increase in forgeries — Numerous executions — Bank of England blamed — Quotations from The 
 Black Dwarf— Action of the Society of Arts — Fish v. Banson — Cruichshank's Note — Penal 
 Code revised . . . . . . . . . . . . . . . . . . . 73 
 
 Chapter IX. — Provincial Banking — 1820 to 1830. More New Banks in the North — Sir Francis 
 Blake, Reeds, & Co. stop payment — The public become impatient — "Capt." Starkey — Forgery 
 of country bank notes — Thomas Joplin commences his agitation — He issues pamphlets in favour - 
 of the Scotch system of banking — Calls a Meeting in Newcastle to consider the formation of a - 
 Joint Stock Bank — Petitions the House of Commons on the subject of the currency — Cash 
 payments resumed by the Bank of England — Prosperous year of 1824 — Panic of 1825 — 
 Wentworth & Co. of York stop payment — Sir Peter Pole & Co. of London suspend — Bank of 
 England issue £1 and £2 notes — Bank failures in the County of Durham — Skits on "Rag" 
 money — Bank of England relinquish privilege — Joplin renews his agitation in the North — 
 , Branch Banks of England proposed — Great opposition — " Circulars to Bankers " — Formation of 
 Committee of Country Bankers — Project to restrain the issue of Small Notes — Opposition from 
 Newcastle Chamber of Commerce — Petition re Small Notes — Debate in the House of Commons 
 — Speech by Sir M. W. Ridley — Government Stocks reduced . . . . . . . . 87 
 
[xvi] 
 
 PAGE 
 
 Ohapteb X. — Provincial Banking — 1830 to 1840. Introduction to the North of England of Banking 
 on the Joint Stock Principle — List of New Banks— Changes in Bank Premises— Thomas Joplin 
 — Portrait — His Ancestry — His Writings — Views on the Currency Question — Opposition to 
 them — Joint Stock Banks founded in various towns — National Provincial Bank of England 
 formed by Joplin, assisted by George Fife Angas — Charter of the Bank of England — Committee 
 of Secrecy to report upon it — Evidence of Country Bankers .. .. .. ..102 
 
 Chapter XI. — Provincial Banking — 1840 to 1894. Note Issue of Messrs. Lambton withdrawn — 
 Bank of England divided into " Issue " and " Banking " — Quotations from the Act of Parliament 
 — It fixes the Note Issue of all Banks — Particulars of Note Issue in the North — Failure of 
 Northern Joint Stock Banks — Mr. Headlam introduces a Bill to limit the responsibility of 
 Shareholders in them — Extracts from the Debate — Bill brought in by Mr, Apsley Pellatt to 
 legalise "Crossing" of Cheques — Suspension of the "District" Bank — Woods & Co. open — 
 Dale, Miller, & Co. formed — National Provincial Bank come to Newcastle — North Eastern Bank 
 announced — Bankers' Clearing Association formed in Newcastle — Early mode of "Clearing" — 
 Present method — Suggestions for its improvement — Association of Country Bankers re-constit- 
 uted — York City and County Bank absorb " Darlington District " and enter Newcastle — 
 Simpson, Chapman, & Co. join the York Union Banking Company . . . . . . . . 110 
 
 Chapter XII. — Coining and Clipping. Tontines and Lotteries. Governments constantly 
 troubled with "Coiners" and "Clippers" — Some cases of coining in the North — Thomas 
 Peebles at Berwick — Hugh Partridge at Newcastle — Thomas, " a Scotts man coining hard 
 heddes on Cokett Island " — John Maben — Instances of Clipping in " Depositions from the Castle 
 at York" — Daniel Auty — Rev. John Booth at Bothal — Specimens of Mint and "clipped" 
 half-crowns — Clipping by William Guest of the Bank of England — Tontines — Act prohibiting 
 lotteries — Government break their own law — Great rage for lotteries between 1785 and 1823 — 
 Banks supply tickets — Illustrations of Lottery Bills — State Lotteries abolished in 1826 . . 121 
 
[ xvii ] 
 
 ALPHABETICAL LIST OF BANKS REVIEWED. 
 
 Alnwick & County Bank 
 
 Backhouse & Co. 
 
 Baker, Shafto, Ormston, & Co. 
 
 Batson, Berry, Langhorn, & Wilson 
 
 Batson, Wakefield, & Scott 
 
 Baxter & Co. 
 
 Beckett & Co. {see Bower &> Co.) 
 
 Bell, Cookson, Carr, & Airey 
 
 Bell, Woodall, & Co. ... 
 
 Blake, Sir F., & Co. {See Batson, Wakefield, ^ 
 
 Bower & Co.... 
 
 Branch Bank of England 
 
 Britain & Co. 
 
 Broadley & Co. 
 
 Bullock, Benjamin 
 
 Campion, Margaret & Robert 
 
 Chapman & Co. 
 
 Chaytor, Sir William, & Co. 
 
 Clark, Richardson, & Hodgson 
 
 Clement, J. ... 
 
 Cooke, Robinson, & Co. ... 
 
 Dale & Co. ... 
 
 Darlington District Joint Stock Bank 
 
 Davison-Bland & Co. 
 
 Dresser, Joseph, & Co. ... 
 
 Dunn, Benjamin 
 
 Elstob, Luke .. 
 
 Fenton, Scott, Nicholson, & Smith ... 
 
 Fletcher, Stubbs, Dew, & Stott 
 
 Forster, Burrell, Rankin, & Co. 
 
 Frankland, John & James 
 
 Goodchild, Jackson, & Co. 
 
 Hagues, Strickland, & Allen 
 
 Hammond, Hirst, & Close 
 
 Hawks, Grey, Priestman, & Co. 
 
 Hayes, Leatham, Hodgson, & Co. ... 
 
 Scott) 
 
 
 PAGE 
 
 . . . Alnwick 
 
 • 133 
 
 ... Darlington 
 
 • 134 
 
 ... Newcastle 
 
 • 155 
 
 ... Berwick 
 
 . 162 
 
 ... Newcastle 
 
 . 163 
 
 ... Darlington 
 
 • 173 
 
 ... Newcastle 
 
 • 174 
 
 ... Scarborough 
 
 .. 196 
 
 ... Malton 
 
 . 199 
 
 ... Newcastle 
 
 . 201 
 
 ... Thirsk 
 
 . 218 
 
 ... Malton 
 
 .. 218 
 
 ... Morpeth 
 
 . 2l8 
 
 ... Whitby 
 
 . 2J9 
 
 ... Newcastle 
 
 . 221 
 
 ... Sunderland 
 
 .. 225 
 
 ... Whitby 
 
 . 227 
 
 ... Darlington 
 
 . 229 
 
 ... Sunderland 
 
 230 
 
 ... South Shields 
 
 • 233 
 
 ... Darlington 
 
 • 236 
 
 ... Newcastle 
 
 • 239 
 
 ... Thirsk 
 
 . 263 
 
 ... Durham 
 
 263 
 
 ... Stockton 
 
 . 264 
 
 ... Thirsk 
 
 265 
 
 ... Northallerton 
 
 . 266 
 
 ... Newcastle 
 
 . 266 
 
 ... Whitby 
 
 • 273 
 
 ... Sunderland 
 
 • 274 
 
 ... Malton 
 
 . 279 
 
 ... Northallerton 
 
 . 280 
 
 ... Newcastle 
 
 . 281 
 
 ... Malton 
 
 . 283 
 
[ xviii ] 
 
 Hodgkin, Barnett, Pease, & Spence 
 
 Hutchinson, Geo. & Thos. 
 
 Hutton, Other, & Co. ... 
 
 Industrial Bank, The 
 
 Lambton & Co. (see Davison-Bland &> Co.) 
 
 Lawson, Sir John 
 
 Lister & Co. ... 
 
 London & Northern Bank 
 
 London Bank of Scotland 
 
 Loraine, Sir Chas., & Co. {see Baker, Shafto, &> Co.) 
 
 Lumley, Smith, & Co. ... 
 
 Miles, Wells, & Co. 
 
 Mills, Robinson, Hopper, & Co. 
 
 Mowbray, Hollingsworth, & Co. {see Richardson S' Moivhray) 
 
 Mowbray, Hollingsworth, Wetherell, & Co. 
 
 National Provincial Bank of England 
 
 Newcastle Commercial Joint Stock Bank 
 
 Newcastle Joint Stock Bank 
 
 Newcastle, Shields, & Sunderland Union Joint Stock Bank 
 
 Northern Counties Bank 
 
 North-Eastern Banking Co., Limited 
 
 North of England Joint Stock Bank 
 
 Northumberland & Durham District Bank 
 
 Pease & Co. ... 
 
 Pease, J. & J. W. 
 
 Peirse, Consett, Topham, & Walton 
 
 Peirson, Thomas 
 
 Raikes & Co. 
 
 Raper, Swann, & Co. 
 
 Reed, Batson, & Co. {see Batson, Wakefield, &• Scott) 
 
 Richardson & Holt {see Clark, Richardson, &= Hodgson) 
 
 Richardson & Mowbray ... 
 
 Ridley, Sir Matthew White, & Co. {see Bell, Cookson, &= Co.) 
 
 Roper & Priestman (5^^ Sir John Lawson) 
 
 Russell, Allan, & Co. 
 
 Sanders & Sons 
 
 Savings' Bank, The Newcastle 
 
 Shields, William 
 
 Simpson, Chapman, & Co. 
 
 Simpson, Sanderson, Taylorson, & Co. 
 
 Newcastle 
 Stockton 
 Richmond 
 Newcastle 
 
 Richmond 
 Scarborough 
 Newcastle 
 Newcastle 
 
 Stockton 
 
 Whitby 
 
 Durham 
 
 Berwick 
 
 Newcastle 
 
 Newcastle 
 
 Newcastle 
 
 Newcastle 
 
 Newcastle 
 
 Newcastle 
 
 Newcastle 
 
 Whitby 
 
 Darlington 
 
 Northallerton 
 
 Whitby 
 
 Malton 
 
 Thirsk 
 
 Darlington 
 
 Sunderland 
 
 Whitby 
 
 Newcastle 
 
 Durham 
 
 Whitby 
 
 Stokesley 
 
 PAGE 
 284 
 287 
 
 294 
 
 296 
 298 
 299 
 
 304 
 306 
 
 307 
 
 310 
 313 
 315 
 319 
 320 
 326 
 328 
 330 
 
 335 
 345 
 346 
 350 
 360 
 361 
 361 
 
 353 
 
 362 
 
 363 
 366 
 
 372 
 
 373 
 
 378 
 
[xix] 
 
 Skinner, Atty, & Holt ... 
 
 Stockton and Durham County Bank 
 
 Sunderland Joint Stock Bank 
 
 Surtees & Burdon 
 
 Swaledale and Wensleydale Joint Stock Bank 
 
 Sykes, Sir Christopher ... 
 
 Tyne Exchange Banking Co. 
 
 Union Joint Stock Bank, The {see Newcastle, Shields, and 
 
 Sunderland Union Joint Stock) 
 Warwick, Lamb, Wright, & Co. 
 Wear Joint Stock Bank, The (contemplated) 
 Wholesale Co-operative Society, Limited 
 Woodall, Tindall, & Co. {see Bell, Woodall, & Co.) 
 Woods & Co. 
 
 York City and County Banking Co.... 
 York Union Banking Co. 
 
 Yorkshire Agricultural & Commercial Banking Co. 
 Yorkshire Banking Co. ... 
 Yorkshire & Cleveland Bank 
 Yorkshire District Banking Co. 
 Yorkshire Penny Bank ... 
 
 ... Stockton 
 
 ••• 379 
 
 ... Stockton 
 
 ... 382 
 
 ... Sunderland 
 
 ... 383 
 
 ... Newcastle 
 
 ... 385 
 
 ... Richmond 
 
 ... 401 
 
 ... Malton 
 
 ... 402 
 
 Newcastle 
 ind 
 
 ... 403 
 
 ... Newcastle 
 
 ... 404 
 
 .. .Sunderland 
 
 ... 404 
 
 ... Newcastle 
 
 ... 405 
 
 ... Newcastle 
 
 ... 406 
 
 ... Newcastle 
 
 ... 409 
 
 ... Thirsk 
 
 ... 410 
 
 ... Malton 
 
 ... 412 
 
 ... Thirsk 
 
 ... 414 
 
 ... Stockton 
 
 ... 415 
 
 ... Thirsk 
 
 ... 415 
 
 ... Yorkshire 
 
 ... 417 
 
[XX] 
 
 ILLUSTRATIONS. 
 
 Portrait of Ralph Carr, the Father of Northern Banking 
 Chapter III. 
 
 British Coin 
 
 Stycas of JLthelred II. and Wigmund, Archbishop of York 
 
 Pennies of Guthred Cnut, Danish King of Northumbria 
 
 Penny of ^thelstan, struck at York . . 
 
 Groat and Half Groat of Henry VIII., struck at York by Cardinal Wolsey 
 
 Durham Pennies — Edward I., Bishops Beck, Kellow, and Wolsey 
 
 Pennies struck at Newcastle-upon-Tyne and Berwick-upon-Tweed 
 
 Charles II. Pontefract Shilling. " Post Mortem patris pro filio 
 
 Tradesmen's Tokens — Seventeenth Century 
 
 Northumberland and Durham Tokens 
 
 Spanish Dollar, countermarked with the Head of George III. 
 
 Bank of England Tokens 
 
 Robertson's Newcastle Tokens 
 
 Newcastle Tokens . . 
 
 The " Town Hutch," Newcastle-upon-Tyne 
 
 Hall Marks 
 Chapter IV. 
 
 Blunderbuss carried by Guard of Newcastle Coach 
 
 Exchequer Bill, Front 
 Do. Back 
 
 Chapter V. 
 
 Signatures of the Members of the Bankers' Association, Newcastle-upon-Tyn 
 
 Note of Scale de Cross Bank 
 Chapter VI. 
 
 Optional Note, Five Guineas, Backhouse & Co 
 
 Note, Full Moon, Magna Charta Bank 
 
 Paper Mould, from Haughton Mills . . 
 
 Water Mark on Assignat Paper 
 
 Letter of Wm. Charnley to John Todd 
 Chapter VII. 
 
 Facsimile of Signatures to Note Guarantee, 1803 
 Do. do. do. 
 
 Chapter VIII. 
 
 Fort Montague Note 
 
 Specimen Note to prevent forgery 
 
 Letter and Signature of Thomas Ranson 
 
 Cruickshank Bank Note 
 Chapter IX. 
 
 " Captain Starkey ". . 
 
 Skit on the Scarcity of Gold . . 
 Do. " Rag Money " 
 
 Symptoms of the 3 Pr. Cts. Reduced, February, 1826 
 Chapter X. 
 
 Portrait and Signature of Thomas Joplin 
 
 Suggested Note 
 Chapter XII. 
 
 "HardHedde" 
 
 Clipped Coins 
 
 Lottery Hand-bill " How to get up in the world " 
 
 Do. " Signs to be observed before 21st of January " 
 
 Do. " Exact representation of Drawing the State Lottery 
 
 Frontispiece. 
 page. 
 11 
 12 
 12 
 13 
 14 
 15 
 16 
 16 
 17 
 18 
 18 
 19 
 20 
 20 
 22 
 23 
 
 25 
 26 
 26 
 
 e, 17( 
 
 34 
 43 
 
 47 
 47 
 62 
 62 
 66 
 
 70 
 71 
 
 79 
 
 83 
 85 
 86 
 
 94 
 
 94 
 
 101 
 
 104 
 
 108 
 
 122 
 125 
 127 
 127 
 128 
 
[xxi] 
 
 BANKS. 
 
 Backhouse & Co. ^~-— — ' 
 
 Letter of Jonathan Backhouse to his father, 1777 
 
 Howey's Waggon, by Bewick 
 
 Scotch Corner 
 
 Durham Cheque, 1817 
 
 A Peep into the Durham Bank Middle Office 
 
 How the Gold was brought to Darlington 
 
 Portraits of Past Partners— Messrs. Backhouse & Co. 
 
 Signatures of Past Partners— Messrs. Backhouse & Co. 
 
 Photo-group of Present Partners — Messrs. Backhouse & Cu. 
 
 PAGE. 
 
 135 
 136 
 142 
 143 
 145 
 148 
 150 
 152 
 154 
 
 Bakeb, Shafto, & Co. 
 
 Note, £5, June 3rd, 1777 
 
 155 
 
 Batson, Wakefield, & Scott. 
 
 Morpeth Note, £5, 12th November, 1804 
 Silhouette of Archd. Reed, by Bewick 
 
 168 
 173 
 
 John Baxter & Co. 
 
 Signature of John Baxter 
 
 174 
 
 Bell, Cark, Cookson, & Co. 
 
 Portrait of John Coutts 
 
 First Provincial Twenty Shilling Note, March 17th, 1758 
 
 Pillory, Newcastle, 1812 
 
 Book Plate, Ralph Carr 
 
 Signature of Joseph Saint . . 
 
 Receipt for Fee-Farm Rent, Signed John Widdrington 
 
 Signature of William Boyd, 1789 
 
 176 
 184 
 185 
 188 
 190 
 191 
 194 
 
 Bell, Woodall, & Co. 
 
 Note for Five Guineas, 5th April, 1810 
 
 196 
 
 Branch Bank of England. 
 View of Premises . . 
 
 209 
 
 Chapman & Co. 
 
 Portrait of Robert Spence . . 
 Note for One Pound, August, 1818 
 
 222 
 223 
 
 Sir William Chaytor & Co. 
 
 Note for Five Pounds, January 31st, 1832 
 
 Dale & Co. 
 
 Portraits of Messrs. Dale 
 
 234 
 
[ xxii ] 
 
 Davison-Bland & Co. (Lambton & Co.) 
 
 Signatures of Partners, 1790. . 
 
 Signature of Kobert Hopper Williamson 
 
 Note for Five Pounds, 24th April, 1822 
 
 Photo-group of Present Partners — Messrs. Lambton & Co. 
 
 Hoar Coat of Arms in Stockton Church 
 
 Henry Hoare, Coat of Arms, 1704 
 
 Portraits of Past Partners— Messrs. Lambton & Co. 
 
 PAGE. 
 
 244 
 245 
 252 
 252 
 256 
 258 
 261 
 
 Benjamin Dunn. 
 
 Signature of Benjamin Dunn 
 
 Luke Elstob. 
 
 Signature of Smith, Elstob, & Co. 
 
 Fenton, Scott, Nicholson, & Co 
 
 Note for Five Guineas, 5th March, 1806 
 
 264 
 
 264 
 
 265 
 
 FOESTEB, BURRELL, & Co. 
 
 Note for Five Pounds, 23rd February, 1784 
 Form of Draft from Alnwick . . 
 
 GooDCHiLD, Jackson, & Co. 
 
 Note for One Pound, 1st January, 1810 
 
 267 
 270 
 
 276 
 
 HoDGKiN, Barnett, Pease, & Spence. 
 
 Photo-group of Present Partners— Messrs. Hodgkin & Co. 
 Portrait of William Edward Barnett . . 
 Do. Robert Spence 
 
 HuTTON, Other, & Co. 
 
 Note for One Guinea, 5th December, 1812 
 
 Sir John Lawson. 
 
 Note for Five Guineas, 23rd March, 1792 
 
 Mowbray & Co. 
 
 Signature of J. Langhorn 
 
 Note for Five Pounds, by Bewick 
 
 Newcastle, Shields, and Sunderland Union Joint Stock Bank. 
 Note for Five Pounds, 1st April, 1845. . 
 
 284 
 285 
 286 
 
 292 
 
 297 
 
 811 
 312 
 
 323 
 
 North op England Joint Stock Bank. 
 Note for Twenty Pounds 
 
 882 
 
[ xxiii ] 
 
 NORTHUMBEBLAND AND DURHAM DISTRICT BANK. PAGE. 
 
 Notice of Suspension fixed on the door at the South Shields Branch . . . . 342 
 
 J. & J. W. Pease. 
 
 Photo-group of Present Partners — Messrs. J. & J. W. Pease . . . . . . 346 
 
 " A Friend in Lombard Street " . . . . . • . • . . . . 349 
 
 Richardson & Mowbray. 
 
 Bank Premises, High Row, Darlington . . . . . . . . . . 356 
 
 Savings' Bank, Newcastle-upon-Tyne. 
 
 Letter from Archd. Bolam . . . . . . . . . . . . 368 
 
 Simpson, Chapman & Co. 
 
 Note for a Guinea, 18th March, 1806 . . . . . . . . 373 
 
 Signature of Abel Chapman . . . . . . . . 373 
 
 " Little Green Gate " . . . . . . . . 374 
 
 Portraits of the Partners— Messrs. Simpson, Chapman, & Co. . . . . 375 
 
 Simpson, Sanderson, Taylorson, Grainger, & Co. 
 
 Note for Five Guineas, 4th November, 1796 . . . . 378 
 
 Skinner, Atty, and Holt. 
 
 Signature of John Holt Skinner . . . . . . 381 
 
 SOBTEES, BURDON & Co. 
 
 Note for One Pound, November 8th, 1776 . . . . . . 887 
 
 Sunderland Bridge Lottery Bill . . . . . . 392 
 
 Lottery Ticket, Sunderland Bridge . . . . 898 
 
 Sale of Notes by Auction . . . . . . . . . . 396 
 
 Woods & Co. 
 
 Photo-group of Present Partners — Messrs. Woods & Co. . . . . . . 406 
 
 Portraits of Past Partners — Messrs. Woods & Co. . . . . . . . . 408 
 
 OF THE 
 
[ xxiv ] 
 
 LIST OF SUBSCRIBERS. 
 
 LARGE PAPER COPIES. 
 
 Addington, The Right Hon. Lord, 24, Princes Gate, London, S.W. 
 Askew-Robertson, Watson, Esq., J. P., Ladykirk, Norham-on-Tweed. 
 
 Burdett-Coutts, The Right Hon. The Baroness, 1, Stratton Street, London. 
 
 Backhouse & Co., Messrs., Bankers, Darlington. (Seven Copies). 
 
 Bank of England, Governor and Company of. 
 
 Barker, Chris. D., Esq., Radnor House, Great Malvern. 
 
 Barker, J. R. K., Esq., African Banking Corporation, Limited, Cape Town. 
 
 Barwick, John S., Esq., J. P., Sunderland, 
 
 Bethell, William, Esq., Derwent Bank, Malton. 
 
 Bolitho, Thomas Bedford, Esq., M.P,, President of the Institute of Bankers, Buryas Bridge, Cornwall. 
 
 Bowen, Horace G., Esq., Chief Cashier, Bank of England, London. 
 
 Boyd, George Penwick, Esq., J.P., Whitley, Northumberland. 
 
 Braithwaite, Major John, Branch Bank of England, Newcastle- on-Tyne. 
 
 Brown, Ralph, Esq., Benwell Grange, Newcastle-on-Tyne. 
 
 Bulman, Archibald, Esq., 14, Victoria Street, Westminster. 
 
 Clayton, Richard, Esq., J.P., Wylam Hall, Wylam-on-Tyne. 
 
 Co wen, Joseph, Esq., Blaydon-on-Tyne. 
 
 Cruddas, W. D., Esq., Haughton Castle, Humshaugh. 
 
 Durham, The Right Hon. The Earl of, 26, Bruton Street, Berkeley Square, London, W. 
 
 Dale, Brodrick, Esq., J. P., The Summerrods, Hexham, 
 
 Dale, Charles W. M., Esq., M.A., LL.B., J.P., North Eastern Bank, Newcastle-on-Tyne. 
 
 Dees, R. R., Esq., Wallsend, Northumberland. 
 
 Dunford, Thos. G., Esq., 5, Osborne Avenue, Newcastle-on-Tyne. 
 
 Edye, Ernest, Esq., Chief Auditor, Bank of England, London. 
 
 Fairley, F. B., Esq., Agent, Bank of England, Temple Bar. 
 Fenwick, Geo. Anthony, Esq., J.P., Hillmorton, Rugby. 
 Fenwick, George J., Esq., 93, Eaton Square, London. 
 Fenwick, Gerard, Esq., 2, Hood Street, Newcastle-on-Tyne. 
 Fox, C. A., Esq., Widney Court, Plymouth. 
 
 Gomersall, Richard, Esq., Claro Bank, Ripon. 
 
 Guest & Chrimes, Messrs., Rotherham. (Two Copies). 
 
 Hill, Alfred H., Esq., J.P., Cleveland, North Shields. 
 Hills & Co., Messrs., 6, Fawcett Street, Sunderland. 
 Hoare, R. G., Esq., Jesmond Park, Newcastle-on-Tyne. 
 Hodgson, William, Esq., Elmcroft, Darlington. 
 
[ XXV ] 
 
 Jackson, Fredk. Huth, Esq., Director, Bank of England, London. 
 Joplin, William, Esq., 49, Cheyne Walk, Chelsea. 
 
 King, C. Thos., Esq., 48, Bewick Road, Gateshead. 
 
 Kirsopp, Arthur, Esq., Messrs. Lambton & Co., Grey Street, Newcastle-on-Tyne. 
 
 Lambton, H. R., Esq., Redfield, Winslow. 
 
 Lambton, R. E., Esq., The Bank, Newcastle-on-Tyne. 
 
 Lambton & Co., Messrs., Bankers, Newcastle-on-Tyne. 
 
 Library, Public, Newcastle-on-Tyne (per Basil Anderton, Librarian). 
 
 Literary and Philosophical Society, The, Newcastle-on-Tyne (per W. E. Franklin). 
 
 Little, William, Esq., Chapel Ridding, Windermere. 
 
 Lovibond, Thos. Watson, Esq., West Jesmond House, Newcastle-on-Tyne. 
 
 Maass, Hans, Esq., R. Thiedemann & Co., Newcastle-on-Tyne. 
 Mawson, Swan, & Morgan, Messrs., Grey Street, Newcastle-on-Tyne. 
 Murton, John, Esq., 10, Portland Terrace, Newcastle-on-Tyne. 
 
 Ogilvie, Jas. Pinlay, Esq., 101, Howard Street, North Shields. 
 Ogilvie, Joseph, Esq., Rosella House, North Shields. 
 
 Pease, Sir Joseph W., Bart., M.P., Hutton Hall, Guisborougb. 
 
 Pease, Alfred E., Esq., Pinchinthorpe House, Guisborougb. 
 
 Pease, Arthur, Esq., J.P., Hummersknott, Darlington. 
 
 Pease, John W., Esq., J.P., D.C.L., Pendower, Newcastle-on-Tyne. 
 
 Pease, Joseph Albert, Esq., M.P., Snow Hall, Darlington. 
 
 Pease, Messrs. J. & J. W., Bankers, Darlington. 
 
 Phillips, M. T., Esq., 22, Blyth Hill, Catford. 
 
 Portal, Messrs., Laverstoke Mills, Whitchurch, Hants. 
 
 Ridley, The Right Hon. Sir Matthew White, Bart., M.P., Blagdon, Cramlington. 
 Ruddock, R., Esq., 412, Westgate Road, Newcastle-on-Tyne. 
 Ruddock, R. E., Esq., Grand Studio, Newcastle-on-Tyne. 
 
 Sampson, John, Esq., 43, Coney Street, York. 
 
 Sandeman, Albert G., Esq., Deputy Governor, Bank of England, London. 
 
 Spence, G. J., Esq., South Preston Lodge, North Shields. (Two Copies). 
 
 Straker, Frederic, Esq., Stagshaw House, Corbridge-on-Tyne. 
 
 Stranack, E. F., Esq., West Hatch, Adyar, Madras. 
 
 Stutchbury, G. F., Esq., Chief Accountant, Bank of England, London. 
 
 Swan, Henry F., Esq., North Jesmond, Newcastle-on-Tyne. 
 
 Thompson, John S., Esq., North Eastern Bank, Quayside, Newcastle-on-Tyne. 
 Thome, Thomas, Esq., Blackett Street, Newcastle-on-Tyne. 
 
 Usherwood, William, Esq., M.A., Bagdale, Whitby. 
 
 Walker, John Chapman, Esq., J.P., Lower Stakesby, Whitby. 
 Welford, Richard, Esq., Thomfield, Gosforth, Newcastle-upon-Tyne. 
 Wilson, A., Esq., 18, Gracechurch Street, London. 
 
[ xxvi ] 
 
 Wilson, George D., Esq., Pensbury, Darlington. 
 Wood, Lindsay, Esq., J.P., The Hermitage, Chester-le-Street. 
 Woods, James E., Esq., Low Gosforth House, Newcastle-on-Tyne. 
 Woods, Jno. A., Esq., Benton Hall, Newcastle-on-Tyne. 
 Woods & Co., Messrs., Bankers, Newcastle-upon-Tyne. 
 
 SMALL PAPER COPIES. 
 
 Adams, W. E., Esq., 32, Holly Avenue, Newcastle-on-Tyne. 
 
 Adamson, Horatio A., Esq., 29, Percy Gardens, Tynemouth. 
 
 Airey, Miss J. P., 1, Royal Crescent, Bath, 
 
 Allan, George, Esq., 18, Blackett Street, Newcastle-on-Tyne. 
 
 Anderson, Lt.-Col. Wilfred T., Ulundi House, Ramsgate. 
 
 Anderson, William, Esq., North Eastern Bank, Tow Law. 
 
 Andrews & Co., Messrs., Booksellers, Durham. (Two Copies.) 
 
 Antiquaries of Newcastle-on-Tyne, The Society of (per R. Blair, Secretary). 
 
 Armstrong, W. J., Esq., South Park, Hexham. 
 
 Ashby & Co., Messrs. Thos., Staines Bank, Staines, Middlesex. 
 
 A skew-Robertson, Watson, Esq., J. P., Ladykirk, Ncrham. 
 
 Bardett-Coutts, The Right Hon. The Baroness, 1, Stratton Street, London. (Two Copies). 
 
 Bruce, Honourable Mr. Justice, Yewhurst, Bromley, Kent. 
 
 Backhouse, T. W., Esq., West Hendon House, Sunderland. 
 
 Bailey, Henry R., Esq., Co-operative Wholesale Society, Waterloo Street, Newcastle-on-Tyne. 
 
 Bainbridge, T. H., Esq., J. P., Holmwood, Jesmond, Newcastle on-Tyne. 
 
 Barclay, R. G., Esq., Shotley Bridge. 
 
 Barker, T. Bell, Esq., Westoe, South Shields. 
 
 Baty, J. Armorer, Esq., Cattle Market Exchange, Newcastle-on-Tyne. 
 
 Bentham, Col., 18, Latimer Street, Tynemouth. 
 
 Benson, Mrs., 2, Abbotsford Terrace, Newcastle-on-Tyne. 
 
 Bethell, William, Esq., Derwent Bank, Malton. 
 
 Bigge, E. E., Esq., Gun Lodge, Knebworth, Herts. 
 
 Bigge, Francis E., Esq., Hennapyn, Torquay, South Devon. 
 
 Bigge, Matthew, Esq., Elton, Peterborough. 
 
 Boissevain, Mons. G. M., 4, Tesselschadestraat, Amsterdam. 
 
 Bone, W. J., Esq., Linskill Terrace, North Shields. 
 
 Boulton, Babington, Esq., The Bank House, Bishop Auckland. 
 
 Boulton, John, Esq., 5, South Crescent, Hartlepool. 
 
 Bowen, Horace G., Esq., Chief Cashier, Bank of England, London. 
 
 Boyd, William, Esq., North House, Longbenton, Newcastle-on-Tyne. 
 
 Brady, Charles, Esq., 89, Stanhope Road, Darlington. 
 
 Braithwaite, Major John, Branch Bank of England, Newcastle-on-Tyne. 
 
 Bruce, John, Esq., 10, Syon Street, Tynemouth. 
 
 Bulman, The Rev. J. G., Oakwood, West Enfield, Middlesex. 
 
 Burdon, C, Esq., Parkhurst House, Haslemere. 
 
 Burdon, Rowland, Esq., J.P., Castle Eden, Co. Durham. 
 
[ xxvii ] 
 
 Cail, Septimus A., Esq., 20, Hawthorn Terrace, Newcastle-on-Tyne. 
 
 Calvert, Rev. Thomas, 121, Hopton Road, Streatham, S.W. 
 
 Carr, Cuthbert E., Esq., Low Hedgeley, Glanton, Northumberland. 
 
 Carr-EUison, John R., Esq., J. P., Hedgeley, Alnwick. 
 
 Chalton, Ley, Esq., Nat. Prov. Bank of England, West Hartlepool. 
 
 Cheveley, R. D., Esq., Branch Bank of England, Leeds. 
 
 Clark, E., Esq., Percy Park, Tynemouth. 
 
 Colman, J. J., Esq., M.P., Carrow House, Norwich. 
 
 Courtney, Edw. M., Esq., Bank of England, London. 
 
 Cowen, John A., Esq., J.P., Blaydon Burn, Blaydon-on-Tyno. 
 
 Cowen, Joseph, Esq., Blaydon-on-Tyne. 
 
 Davy, Lionel C, Esq., North Eastern Bank, Rothbury. 
 
 Dean, Matthew, Esq., Croxdale, County of Durham. 
 
 Dendy, F. W., Esq., Eldon House, Jesmond. 
 
 Denison, Joseph, Esq., 45, Sanderson Road, Newcastle-on-Tyne. 
 
 Dick, John, Esq., 10, West Grainger Street, Newcastle-on-Tyne. 
 
 Dillon, Malcolm, Esq., 24, Grosvenor Road, Newcastle-on-Tyne. 
 
 Dolphin, John Porter, Esq., Wolsingham. 
 
 Evans, Sir John, K.C.B., D.C.L., Nash Mills, Hemel Hempstead. 
 Elliot, George, Esq., 47, Rosedale Terrace, Newcastle-on-Tyne. 
 Embleton, Dennis, Esq., M.D., 19, Claremont Place, Newcastle-on-Tj ne. 
 Erskine, Henry A., Esq., Sub-Agent, Bank of England, Manchester. 
 
 Fenwick, J. G., Esq., J. P., Dam Crook, Newcastle-on-Tyne. 
 
 Fenwick, Mark, Esq., 2, Hood Street, Newcastle-on-Tyne. 
 
 Forster, Joseph, Esq., Messrs. Lambton & Co., Alnwick. 
 
 Forth, Waiiam, Esq., Whitby. 
 
 Foster, Joseph, Esq., Hon. M.A., Oxon., 21, Boundary Road, London, N.W. 
 
 Foster, Robert, Esq., The Quarries West, Newcastle-on-Tyne. 
 
 Francois, Mons. G., 19, Rue des Blancs Mouchons, Douai. 
 
 Furness, C, Esq., M.P., West Hartlepool. 
 
 Gaskarth, Henry, Esq., Sun Bridge Buildings, Bradford. 
 Gibson, P. E., Esq., Branch Bank of England, Newcastle-on-Tyne. 
 Gibson, William J., Esq., North Eastern Bank, Bedlington. 
 Gledstone, T. L., Esq., Bank House, Consett, Co. Durham. 
 Glendenning, W., Esq., Grainger Street, Newcastle-on-Tyne. 
 Green, R. Y., Esq., 11, Lovaine Crescent, Newcastle-on-Tyne. 
 Gumey & Co., Messrs., Bankers, Norwich. 
 
 Hadow, Reginald T., Esq., Bank of England, Leeds. 
 
 Hansen, F. R., Esq., Yorkshire Bank, Thirsk. 
 
 Harrison, Miss, Haven House, Cullercoats. 
 
 Hedley, Edward A., Esq., 8, Osborne Villas, Newcastle-on-Tyne. 
 
 Henderson, F. J., Esq., Bank of England, Manchester. 
 
 Henderson, W. F., Es^., Moorfield, Newcastle-on-Tyne. 
 
L xxviii ] 
 
 Hills, Charles H., Esq., Sunnybank, Fernwood Road, Newcastle-on-Tyne. 
 
 Hills & Co., Messrs., 6, Fawcett Street, Sunderland. 
 
 Hillyard, Mrs., Dunelm, Elmbourne Road, Upper Tooting, S.W. 
 
 Hodgkin, Thomas, Esq., D.C.L., F.S.A., Bambrough Castle. 
 
 Holliday, John R., Esq., 2, Cleveland Road, North Shields. 
 
 Houston, James A., Esq., Lambton & Co., Newcastle-on-Tyne. 
 
 Howkins, John, Esq., Qucensberry Lodge, Granton, Edinburgh. 
 
 Hudson, R., Esq., 24, Hotspur Street, Tynemouth. (Two Copies). 
 
 Huie, Richard W., Esq., Joint Agent Commercial Bank of Scotland (Member of the Council of 
 
 Institute of Bankers in Scotland), Greenside, Edinburgh. 
 Hunter, Edward, Esq., 8, Wentworth Place, Newcastle-on-Tyne. 
 Hunter, George B., Esq., Messrs. Swan & Hunter, Wallsend. 
 
 Institute of Bankers, 34, Clements Lane, Lombard Street, E.C. 
 
 Joicey, Sir James, Bart., M.P., Longhirst. 
 
 Jackson, Thomas, Esq., J. P., Percy Villa, Tynemouth, 
 
 James, Mrs., Rosebank, Newbury, Berks. 
 
 James, W. Ashton, Esq., 1, Fleet Street, London. 
 
 Jobling, J. S., Esq., Bank, Morpeth. 
 
 Joicey & Co., Messrs. James, Limited, Newcastle-on-Tyne. 
 
 Johnson, Major William, Cliff House, Whitley. 
 
 Johnstone, John, Esq., 14, Osborne Avenue, Newcastle on-Tyne. 
 
 Joplin, William, Esq., 49, Cheyne Walk, Chelsea. 
 
 Kempe, W. H., Esq., Bank of England, London. 
 
 Knott, James, Esq., Jesmond Manor House, Newcastle-on-Tyne. 
 
 Lambton, Henry, Esq., 47, Eaton Place, S.W. 
 
 Library, Leeds (per F. A. Yates), Commercial Street, Leeds. 
 
 Library, Free (per R. Bateman, Librarian), TuUie House, Carlisle. 
 
 Library, Public (per T. Pyke, Librarian), South Shields. 
 
 Library, Public (per Simpkin, Marshall & Co.), Tynemouth. 
 
 Little, F. B., Esq., Branch Bank of England, Leeds. 
 
 Liverpool Union Bank, The (per W. G. Henderson, Esq.), Liverpool. 
 
 London and Midland Bank, The, London. 
 
 Lott, E. D.. junr., Esq., Branch Banks Office, Bank of England, London. 
 
 Lucy, Charles P., Esq., York Union Bank, Pickering. 
 
 Lupton, Mrs., Ripley Lodge, Wortley, Leeds. 
 
 Mackey, Matthew, Esq., 8, Milton Street, Newcastle-on-Tyne. 
 Mackinlay, D., Esq., 6, Great Western Terrace, Kelvinside, Glasgow. 
 Mawson, Swan, & Morgan, Messrs., Grey Street, Newcastle-on-Tyne. 
 McLean, G. W., Esq., 97, Jesmond Road, Newcastle-on-Tyne. 
 March, H., Esq., 30, Francis Street, Leeds. 
 Marshall, Prank, Esq., Claremont House, Newcastle-on-Tyne. 
 Martin, N. H., Esq., 8, Windsor Orescent, Newcastle-on-Tyne. 
 Maudlen, William, Esq., South Gosforth. 
 Miller, W. L., Esq., Bank, Berwick-upon-Tweed. 
 Mitchell, C, Esq., Jesmond Towers, Newcastle-on-Tyne. 
 
[ xxix ] 
 
 Molyneux, W. Berkeley, Esq., Sub- Agent, Bank of England, Hull. 
 Morrell, W. W., Esq., York City and County Bank, York. 
 Morrison, John, Esq., Bath Terrace, Tynemouth. 
 Moultrie, G. W., Esq., Agent, Bank of England, Manchester. 
 Mulherion, G. F., Esq., Tyne Iron Company, Willington Quay. 
 Munro, L. S. M., Esq., Manager, Parr's Bank, Liverpool. 
 
 Nat. Prov. Bank of England Technical Library (per A. Batchelor, Hon. Sec), 112, Bishopsgate Street, 
 
 London. 
 Nelson, Kalph, Esq., J. P., Bishop Auckland. 
 Norman, William, Esq., 23, Eldon Place, Newcastle-on-Tyne. 
 North of England School Furnishing Company, The, Newcastle-on-Tyne. 
 North of England School Furnishing Company, The, Fawcett Street, Sunderland. 
 
 Ogilvie, Charles A,, Esq., Fairhall, Blenheim, New Zealand. 
 
 Ogilvie, Arthur H., Esq , London Bank of Australia, Sydney, N.S.W. 
 
 Ogilvie, Jas. Finlay, Esq., 101, Howard Street, North Shields. 
 
 Ogilvie, Miss, Rosalia House, North Shields. 
 
 Ord, John R., Esq., Haughton Hall, Darlington. 
 
 Owen, Geo. Orton, Esq., 18, Market Street, Newcastle-on-Tyne. 
 
 Palgrave, R. H. Inglis, Esq., F.R.S., Belton, Great Yarmouth. 
 
 Palmer, John, Esq., Durham. 
 
 Park, A. D., Esq., Percy Park, Tynemouth. 
 
 Pearson, Rev. Samuel, 52, Percy Park, Tynemouth. 
 
 Pease, John W., Esq., Pendower, Newcastle-on-Tyne. 
 
 Peel, F. W., Esq., Sub-Agent, Bank of England, Newcastle-on-Tyne. 
 
 Pellatt, Miss, Knowle Green, Staines, Middlesex. 
 
 Phalp, A., Esq., 101, Westmoreland Road, Newcastle-on-Tyne. 
 
 Philipson, Hilton, Esq., J. P., 77, Lancaster Gate, London. 
 
 Phillips, Apsley J., Esq., Pietersburg, So. African Republic. 
 
 Phillips, Arch., Esq., Branch Bank of England, Newcastle-on-Tyne. 
 
 Phillips, Edward A., Esq., 109, Howard Street, North Shields. 
 
 Phillips, Grafton, Esq., Bargang Tea Estate, Behalli, Bishnauth, Assam. 
 
 Phillips, Maberly T., Esq., 22, Blyth Hill, Catford, S.E. 
 
 Pollock, A. J., Esq., Messrs. Lambton & Co., Newcastle-on-Tyne. 
 
 Price, F. G. Hilton, Esq., Dir. S.A., 17, CoUingham Gardens, South Kensington. 
 
 Rees, John, Esq., High Jesmond Terrace, Newcastle-on-Tyne. 
 
 Relton, Henry, Esq., 9, Carlton Terrace, Low Fell. 
 
 Reynard, Captain Frank, Firby Hall, York. 
 
 Richardson, Samuel T., Esq., The Bank, Darlington. 
 
 Richter, Lionel E., Esq., Branch Bank of England, Newcastle-on-Tyne. 
 
 Ridley, Phillip W., Esq., Wilts and Dorset Bank, Limited, Salisbury. 
 
 Ridley, J. T., Esq., Bank, Hartlepool. 
 
 Robertson, Adam, Esq., Alnwick. 
 
 Robinson, Wm. H., Esq., 20, Osborne Avenue, Newcastle-on-Tyne. 
 
 Robson, W. B., Esq., Thornton Steward, Bedale. 
 
[ XXX ] 
 
 Rose, Hugh, Esq., North Eastern Bank, Newcastle-on-Tyne. 
 Rusett, E. W. Da, Esq., Warden House, Tynemouth. 
 
 Sampson, John, Esq., 43, Coney Street, York. 
 
 Sandeman, Albert G., Esq., Deputy- Governor, Bank of England, London. 
 
 Shepherdson, Joseph, Esq., 20, Beech Grove Road, Newcastle-on-Tyne. 
 
 Sheppie, Col., J. P., Birtley House, Birtley. 
 
 Shipley, J. A. D., Esq., Burdon Buildings, Newcastle-on-Tyne. 
 
 Sim College (per W. B. Milman, Librarian), Victoria Embankment, E.G. 
 
 Slicer, John, Esq. London and Yorkshire Banking Company, Idle. 
 
 Smith, John, Esq., Hodgkin, Barnett, & Co , Newcastle-on-Tyne. 
 
 Smith, Mark, Esq., Bookseller, Alnwick. 
 
 Smithson, W. R., Esq. Northallerton. 
 
 Snellgrove, William, Esq., 11, Clifton Road, Brockley, S.E. 
 
 Snowball, Geo. L., Esq., Lyndhurst, Gosforth, Newcastle-on-Tyne. 
 
 Snowdon, W. F., Esq., 32, Side, Newcastle-on-Tyne. 
 
 Spence, C. J., Esq., South Preston Lodge, North Shields. (Five Copies). 
 
 Spioer, William, Esq., Whitley. 
 
 Storey, H., Jun., Esq., 1, North Bridge Street, Sanderland (per Hills & Co.). 
 
 Spicer, William, Esq., York City and County Bank, Newcastle-on-Tyne. 
 
 Sutton, William, Esq., Eskbank, Newcastle-on-Tyne. 
 
 Swallow, J. H., Esq., Sowerby Bridge, General Manager Halifax Joint Stock Bank, Halifax. 
 
 Taylor, Hugh, Esq., J. P., 57, Gracechurch Street, London. 
 Thompson, S. D., Esq., Lambton & Co., Newcastle-on-Tyne. 
 Thompson, Thomas, Esq., Winlaton-on-Tyne. 
 Thorne, Thomas, Esq., Blackett Street, Newcastle-on-Tyne. 
 Thorburn, John, Esq., 95, Jesmond Road, Newcastle-on-Tyne. 
 Tone, William, Esq., Roker, Sunderland (per Hills & Co.). 
 Towers, Edward, Esq., 4, Latimer Street, Tynemouth. 
 Turner, J. Grey, Esq , 64, Maple Street, Newcastle-on-Tyne. 
 Turner, Johnson, Esq., The Bank, Hexham. 
 
 Ulster Bank Limited (per G. Higinbotham, Secretary), Belfast. 
 
 Waddington, G. W., Esq., Grosmont, York. 
 
 Wait, James, Esq., J. P., 16, Northumberland Square, North Shields. 
 
 Walker, Rev. John, Whalton Rectory, Newcastle-on-Tyne. 
 
 Walrond, Arthur F., Esq., Sub- Agent, Branch Bank of England, Leeds. 
 
 Watson, Joseph Henry, Esq., 55, Percy Park, Tynemouth. 
 
 Watson, Robert R., Esq., Park Villas, Gosforth. 
 
 Watson, Robert Spence, Esq., LL.D., Bensham Grove, Gateshead-on-Tyne. 
 
 Watson, Rowland de Araila, Esq., 33, Town Wall, Hartlepool. 
 
 West, Reginald J., Esq., Agent, Branch Bank of England, Leeds. 
 
 Wilcock, Laurence, Esq., London and Yorkshire Bank, Batley. 
 
 Wilson, J. Straker, Esq., Roseworth Tower, Gosforth. 
 
 Wilson, Richard, Esq., Westfield, Armley, Leeds. 
 
 Winter, John M., Esq., J.P., Percy Gardens, Tynemouth, 
 
A HISTORY OF 
 
 BANKS, BANKERS, AND BANKING, 
 
 IN 
 
 NORTHUMBERLAND, DURHAM, AND NORTH YORKSHIRE. 
 
 CHAPTER I. 
 BANKING IN LONDON. 
 
 Introduction of Banking — The Jews — They invent Bills of Exchange — Work in 
 precious metals — Advance on securities — Massacre at York — The Lombards — 
 They teach their arts to the Londoners who become Goldsmiths — Charles I. 
 seizes cash in the Mint — Charles II. closes the Exchequer — Goldsmiths develop 
 into Bankers — Pamphlet on the "Mystery" of it — Treatment of "juniors" — 
 Bank of England established — William Paterson the originator — Its Charter — 
 Began business in Grocers' Hall — Object of its formation — New premises built 
 in 1734 — Original building —Bank at the present day — Pass-books introduced — 
 Cheques originated — Provincial Banks commence. 
 
 THE arts and mysteries of the banking profession were practised in London 
 and Edinburgh a long time before their introduction into the provinces. 
 It will, therefore, be necessary to give some slight account of banking in 
 the cities named, before proceeding to review its birth and growth in the North of 
 England. 
 
 It is not intended to trace the absolute origin of banking, or its development 
 through the ages anterior to the Conquest. It will suffice for our purpose to state 
 that the Jews, who were introduced into England by William the Conqueror, 
 expanded the art of banking by inventing bills of exchange, and similar modes of 
 transferring values without the aid of coin. They were the most skilled workers 
 in the precious metals, which, in times of prosperity, they sold to the ecclesiastical 
 establishments, and in times of adversity, were equally willing to receive in 
 pledge for money advanced. 
 
 The manellous proclivity of the Jews for accumulating money has ever been 
 proverbial. It was their practice to deposit the securities for advances in some 
 public building, and it is related that '^^t the general massacre of the Jews at York, 
 
[^j 
 
 in the early part of the reign of Richard I., the gentry of the neighbourhood, who 
 were all indebted to the Jews, ran to the cathedral, the place where their bonds 
 were kept, and made a solemn bonfire of the papers before the altar." Many 
 such stories of the atrocities practised upon the Jews, blacken the pages of the 
 history of our country, culminating in the expulsion of the race and the confiscation 
 of their property. 
 
 Their place in the banking world was taken by the Lombards, who settled in 
 London, and gave tlieir name to the street, renowned as the abode of the banker 
 of the present day. The early Lombards were artificers in gold and silver, dealers 
 in pawns, and money-lenders. Their arts and their crafts they imparted to the 
 Londoners, who, as years advanced, became the noted goldsmiths of the sixteenth 
 and seventeenth centuries. These tradesmen, in their turn, grew exceeding rich, 
 and lent their wealth to commoners and to kings, many of whom behaved to them 
 almost as shamefully as their predecessors had treated the Jews. 
 
 Some deeds stand out prominently — such as the act of Charles L, in seizing 
 the bankers' surplus cash, that was then kept in the Mint, amounting to some 
 ^200,000 ; and the no less monstrous injustice practised by his royal son Charles 
 IL in 1672, when he offered the "White Staff," or Lord Treasurer's position, to 
 any one who could mention a way of raising ;^ 1,500,000. Sir Thomas Clifford 
 suggested the closing of his Majesty's Exchequer, which contained a million and a 
 half of money belonging to the bankers. The king was not slow to avail himself 
 of such a bold idea, however unjust and tyrannical it might be. "The money thus 
 forcibly seized, did, in point of fact, belong to the trading community, and the 
 failure of the bankers, which was the natural result, caused, for a time, a general 
 suspension of all monetary transactions." 
 
 In spite of such treatment, the goldsmith grew more and more wealthy, and 
 gradually developed into the banker, as known in the present day. The transition 
 from goldsmith to banker is admirably and quaintly described in a pamphlet 
 published in 1676 (a copy will be found in the Guildhall Library), entitled, 
 " The Mystery of the New Fashioned Goldsmiths or Bankers : their Rise, 
 Growth, State, and Decay, Discovered in a Merchant's Letter to a Country Gent 
 who desired to bind his Son Apprentice to a Goldsmith ; printed in the year 1676." 
 
 It commences : — 
 
 " Sir, — Since you be pleased to demand my advice in the disposal of your Son to the Goldsmiths 
 Trade, and my opinion of the Trade itself, I must trouble you more than I was willing to set down 
 what I have observed of the Goldsmiths since I have Traded, and the steps of their Rise and Progress, 
 and leave the judgment of the whole to your Self, 'tis but fit that a Son should owe the good choice of 
 
[J] , 
 
 his employment and way to his fortunes to the prudence and love of his Father. If I could now 
 discourse you, I ought to be satisfied whether you have thoughts to put your Son to a Goldsmith of the 
 Old or New Fashion, those of that profession having of late years wholly changed their way of Trading. 
 
 " In my time their whole imployment was to make and sell Plate, to buy forreign Coyns and 
 Gold and Silver imported, to melt and cull them, and cause some to be coyned at the Mint, and with 
 the rest to furnish the Refiners, Plate Makers, and Merchants, as they found the price of gold and 
 silver to vary. But about thirty years since, the civil Wars giving opportunity to Apprentices to leave 
 their Masters at will, and the old way having been for Merchants to trust their cash in one of their 
 Servants custody, many such Cashiers left their Masters in the lurch and went to the Army and 
 Merchants knew not how to confide in their Apprentices ; then did some Merchants begin to put their 
 Cash into Goldsmitlis hands to receive and pay for them (thinking it more secure) and the trade of 
 Plate being but little worth, most of the Nobility and Gentry and others melting down their old plate 
 rather than buying new, and few daring to use or own plate, the Goldsmiths sought to be the ^lerchants 
 Cash keepers, to receive and pay for nothing, few observing or conjecturing their profit they had for 
 their pains." 
 
 The pamphlet is answered by another, headed, " Is not the Hand of Joab in 
 all this ; or An Enquiry into the Grounds of a late Pamphlet Intitled the Mystery 
 of the Xew-fashioned Goldsmiths or Bankers, &c., And answering the Exceptions 
 in it to the Bankers Trade, Printed in the Year 1676." 
 
 From these papers we gather the spirit of the times, and with the aid of 
 "A Handbook of London Bankers," by Mr. Hilton Price, we can trace, in a most 
 interesting manner, the history and lineage of many of the London firms of the 
 present day. 
 
 The treatment that some of the clerks or apprentices received at the hands of 
 these old goldsmith bankers, would hardly be acceptable to the present "junior." 
 One good master and his wife complained " to the Wardens, of their apprentice," 
 William Bowden, " who irreverently, shamefully and of frowwinesse " had beaten 
 his said mistress. His punishment, as ordered by the Wardens, was that he should 
 be " had into y^ kechyn of the Hall, and there stripped naked, and by the hands 
 of his master beaten until such times as he raised blood upon his body, in 
 likewise as he did upon his mistress, and that he should then be made to ask his 
 master and mistress of g'ace and m'cy, nakyd as he was betyn." 
 
 In 1694 a great event happened in the commercial world, namely, the 
 establishment of the Bank of England. Its origin was due to William Paterson, 
 a Scotsman, who commenced his scheme as early as 1691. On July 27th, 1694, he 
 obtained the incorporation of the society, the style of which was "The Governor 
 and Company of the Bank of England." The present year, therefore, is its 
 bi-centenar}'. One most important clause of the Charter, was that which gave 
 the proprietors the exclusive right of banking in England for a teim of twelve 
 years. 
 
[±] 
 
 On January ist, 1695, they commenced actual business in the Grocers' Hall 
 in the Poultry, and on the nth of the following month, they authorised their 
 cashiers to give notes on their behalf, " either for payment of money or bills, for 
 which they are to be accountable." Notes w^ere not then issued for less than £20. 
 In the primitive days of note issue, it was not an uncommon practice to repay 
 the notes by instalments, the amount so paid being endorsed on the back. 
 
 The primary object of the formation of the bank was to raise ^1,200,000 by 
 voluntary subscription, which was to be lent to the Government ; and a further 
 sum of ^300,000, for which the contributors were to receive annuities for one, two, 
 or three lives. The Government was to pay 8 per cent, for the accommodation, 
 and ^4,000 per annum for management. The whole amount was subscribed 
 in a very few days. Mr. Price quotes an interesting letter, written to Sir 
 Francis Child, by the first Duke of Leeds, dated 25th June, 1694: — "Sir, — I 
 am informed that the subscription to the Bank do fill so fast that there is att this 
 day neare ^700,000 subscribed, so that it must now necessarily be a bank ; I, 
 therefore, desire that you will subscribe foure thousand pounds for mee, and pay in 
 one thousand pounds on my account as the Act directs." 
 
 Business was carried on in Grocers' Hall until 1734, when new premises were 
 built upon the site of the house and garden of Sir John Houblon. A church — St. 
 Christopher-le-Stocks — five taverns, and upwards of twenty houses, were required 
 in addition, before " The Bank," as known in the present day, was completed. 
 The original building was from the design of George Sampson ; but great alterations 
 and additions were made by Sir John Soane, the founder of the valuable (though 
 too little visited) museum that bears his name and retains the treasures that he 
 accumulated in his old mansion in Lincoln's Inn Fields, where yet may be seen 
 most of the working drawings from which the designs of Sir John were executed. 
 
 After the establishment of the Bank of England, many customs and practices 
 gradually developed, the record of some of which we find in Mr. Price's work. 
 Pass books were introduced early in the eighteenth century. A letter 
 from the Earl of Litchfield to Messrs. Child in 1713 shows the method prior to 
 their invention. He says : — " I love to go on in old formes if there be no 
 reasons of consequence to y® contrar}^, and therefore I send you y® writing that 
 was all ways put to y® foot of y^ accounts between Mr. Coggs (Coggs & Dann, 
 Bankers) and I when they were passed for every halfe yeares rents, and to this 
 writing Mr. Dann and I sett our hands." Lady Carteret evidently prefeiTed the 
 new introduction of the pass book, as two years later she writes to Mr. Child, 
 " I should be glad of a Book as I used to have at Mr- Mead's w*^- an account 
 of all that you have reC^^- upon this article." The cheque was of prior origin, 
 
[5] 
 
 though it was a long time before it came into general use. " The goldsmiths 
 usually issued receipts or cash notes (for money left with them) payable on 
 demand, and these receipts passed from hand to hand, and were called goldsmiths' 
 notes. A customer wishing to withdraw any sum would draw a note or draft 
 payable to his own or some one else's order, and this was the origin of cheques." 
 
 As trade in the provinces increased, substantial men began to feel the 
 inconvenience of being their own bankers, and retaining all their wealth in their 
 oaken chests. Gradually they began to open accounts with some of the London 
 bankers, which the}' utilised for their business transactions. Doubtless such men 
 were beset by many friends and customers to accommodate them through their 
 banking account, and thus the well-to-do-trader developed into the country banker, 
 with his London agent, who much preferred to do business and incur carriage and 
 postage with some one leading fimi in a town, to having several small customers in 
 the same place. My impression is, that towards the end of the last century, 
 the London bankers grew jealous of the trading banker, and in many cases 
 introduced some junior member of their firm, who, in conjunction with local 
 gentlemen, started as provincial bankers. I give, at the end of these chapters, a list 
 of the North-country banks that have struck me as probably owing their 
 origin to this cause. 
 
[6] 
 
 CHAPTER II. 
 
 BANKING IN SCOTLAND. 
 
 North-Humber-land more affected by Scottish than by London Banking — Bank of 
 Scotland founded in 1695 — Notes issued — One Pound Note — Bank stopped 
 payment in 1704 — Importance of Note issue — Branches started — Charter expires 
 — Free Banking — Royal Bank of Scotland — War between the Banks — Bank of 
 Scotland stops payment in 1728 — Optional Notes — British Linen Company 
 become Bankers — A mutual foe — Banking Company of Aberdeen — Its failure — 
 The " Ship" Bank — " Glasgow Arms" Bank — Notes paid in Sixpences — Private 
 Bankers — John Coutts of Edinburgh — Connection with Newcastle — Rapid 
 Development of Banking in Scotland — Publicans issue notes — Forgery on the 
 " Thistle" Bank. 
 
 IN times remote, " North-Humber-land " was perhaps as much if not more 
 influenced by the ways and doings of her neighbours across the northern 
 border, as by the events that transpired in the great metropolis of the 
 south. It is therefore necessary that we should scan the development of banking on 
 the north, as w^ell as on the south of the district under review. 
 
 The success that attended the establishment of the Bank of England in 1694, 
 naturally led to a desire for the formation of a similar institution in Scotland. 
 Little time could have been lost, for in 1695 the Scottish Parliament passed " An Act 
 for Establishing a Public Bank." The Capital was to be " a joynt stock amountmg 
 to the soume of twelve hundred thousand pounds money" (Scots, equal to ^100,000 
 sterling). Subscriptions for the same to be received in Edinburgh and London, 
 from ist November, 1695, to ist January, 1696, the body corporate to bear the name 
 of the Governor and Company of the Bank of Scotland. They w^ere granted 
 the exclusive privilege of banking in Scotland, for a period of twenty-one years. 
 The directors very soon issued notes for the value of ;^ioo, ^50, £20, £10, 
 and £^. Useful as these proved for many purposes, a great want of small change 
 was felt. Coin was very scarce and subject to considerable depreciation from wear 
 and tear. The Bank of Scotland therefore in 1704, commenced the issue of one 
 pound notes, little thinking of the mighty power they w^ere creating for the 
 development of the country, and little dreaming that after a trial of nearly 
 two hundred years, the one pound note would still be the cun^ency dearest to the 
 heart of a Scotchman. 
 
l7l 
 
 For some years the issue of one pound notes was given up. The Scots' 
 Magazifie for August, 1768, announces : — "The Edinburgh Banks have discontinued 
 issuing 20'- Notes since May, and have issued 21 -." This was occasioned by the 
 scarcity of silver for change. The Guinea notes were put up into packets 
 containing nineteen, which with i/- added, provided convenient change for a 
 twenty pound note. 
 
 In 1 704, the Bank of Scotland stopped pajTnent from want of specie. An almost 
 unaccountable run occurred which could not be met, though its solvency was un- 
 qestionable. Ere we condemn the early bank for not being prepared for this emergency, 
 we must think of the difficulty and cost of obtaining specie, which was principally 
 in silver, and had to be collected in London and forwarded north, at a cost of £y 
 or £8 per cent. The note issue was looked upon by the directors as all-important, 
 and to extend it and prevent a rival entering the field, branches were opened in 
 Glasgow, Aberdeen, Dundee, and Montrose, but they did not answer the 
 expectations formed and were soon closed, the money used by them being brought 
 back to Edinburgh by " Horse Carriage." The directors soon began to receive 
 money upon deposit at fixed rates of interest; they also granted cash credit 
 accounts. At the expiration of their original charter in 17 16, the proprietors of 
 the Bank of Scotland made no effort to get it renewed. The neglect was probably 
 from inadvertency, or possibly from an idea that they were so well established that 
 they need fear no rival ; but from whatever cause the non-application arose, it 
 was not long before they deeply regretted it. There can be little doubt that the 
 lapse of the charter proved a great boon, as it enabled banking to become a free 
 trade in the country, w];jile in England, it was hedged around with restrictions and 
 protection. 
 
 Out of a fund termed the Equivalent Fund (into the particulars of which it 
 is not necessary to enter), arose the Royal Bank of Scotland, a company that 
 obtained a charter for banking purposes in 1727. The granting of it was bitterly 
 opposed by the proprietors of the Bank of Scotland. They used every conceiA^able 
 means to prevent the fonnation of the bank, going so far as to petition the King, 
 and endeavouring to show that although their charter had expired, they had a vested 
 interest in the trade of banking. The consequence of this opposition was, that 
 when the Royal Bank commenced business, the two establishments were not only 
 rivals, but foes openly pronounced. Then began the Battle of the Banks ! Each 
 one deliberately tried to " rush " the other. The old bank relied upon its age and 
 respectability, the Royal upon that popularity which often attends new ventures, 
 especially when their supporters hope to receive extended credit from them. It 
 also had a certain amount of government work, and declined to receiv^e the notes 
 
[8] 
 
 of the Bank of Scotland in payment of taxes. Each estabhshment dihgently 
 hoarded the notes of its opponent until it had collected a greater number than it was 
 probable could be met in specie. Disappointment often followed, but the 
 Royal had the best of the fight. It was new, its capital was large and 
 comparatively intact, while that of the old bank was locked up in advances, re- 
 gardless of its note issue. The crisis was reached in March, 1728. The 
 Lord Provost of Glasgow, a patron of the Royal, presented /900 worth of notes 
 to the Bank of Scotland, demanding coin which they could not supply. The 
 Royal most politely cashed the notes for their client, and lost no time in 
 instituting proceedings against the old bank, which suspended its cash payments 
 for a few months, but afterwards redeemed its notes with interest. To avoid the 
 repetition of such a difficulty, they introduced the celebrated " option clause " 
 on November 19th, 1730. Their ;^ 5 notes read, "on demand, or ^5 2s. 6d. six 
 months after being presented for payment, in the option of the Bank," and on 
 December 12th, 1732, their £1 notes had a clause to the same effect. 
 
 In 1746, an important company obtained a charter for the manufacture of 
 linen, their registered name being " The British Linen Company." They soon 
 commenced to issue notes for the raw material that they purchased. These notes 
 obtained a distinct standing in the financial market. Gradually they found — 
 
 " that it would be of more utility, and better promote the objects of their institution, by enlarging 
 the issue of their notes to traders and manufacturers than by being traders and manufacturers them- 
 selves They therefore relinquished all mercantile and manufacturing operations in the 
 
 year 1763, confining themselves to the discount of bills, advances on discounts, and other banking 
 transactions." 
 
 An interesting history of the early Scottish banks will be found in " The One 
 Pound Note," by William Graham (James Thin, Edinburgh), from whose pages I 
 cull much information. 
 
 By 1750 the Bank and the Royal Bank of Scotland had lost much of their earl)- 
 bitterness. There was a common foe to attack, which has been the cause on many 
 occasions of bringing old enemies to fight shoulder to shoulder. Messrs. Living- 
 ston, Mowat, Bremner, and Dingwall, had begun a private bank in Aberdeen, under 
 the title of '' The Banking Company of Aberdeen." They had gathered a con- 
 siderable connection, their notes were freely accepted, and in that district displaced 
 those of the two old banks. Recently these old banks had commenced a system 
 of note exchange between themselves, and thought it no sin to compel their 
 northern rival to respond to their lead. Unitedly they presented such batches of 
 notes upon the Aberdonian that it could not meet the payment. A lengthy 
 and expensive law suit was. the result, ending in the extinction of the Aberdeen 
 bank in 1753. 
 
[9} 
 
 In Glasgow, "The Ship Bank," (Dunlop, Houston, & Co.) was founded 
 under the auspices of the Bank of Scotland. Their early rival, the Royal, not to be 
 out-done, soon after contrived the establishment of the "Glasgow Arms Bank," 
 (Andrew Cochrane and John Murdock.) For a little time the old fighting was 
 resumed, but before long the new firms threw off the patronage of their promoters. 
 This so incensed the parent banks, that they once again arranged joint war 
 against the enemy. Their mode of procedure was to send to Glasgow as their 
 agent, Mr. Archibald Trotter, whose mission was to collect the notes of Murdock 
 and Co., which he presented at inter^^als, demanding gold or Edinburgh notes. Mr. 
 Trotter's polite attentions were duly weighed by the Glasgow banker, who was 
 prepared for the occasion. Payment was not refused, but was delayed in all 
 conceivable ways. Mr. Trotter has left a record of the affair, and says :— 
 
 " When their notes were presented at the office for payment a Bag of Sixpences was with great delibera- 
 tion produced and laid upon the table ; the Teller then proceeded with ridiculous slowness to open up 
 the Bag and Count the Money. He would first Tell over a pound sterling, in Single Sixpences ranked 
 upon the Table, and then affecting to be uncertain about the Reckoning, he would gather this small 
 money, and count it over again from One hand to the Other, sometimes letting fall a Sixpence for a 
 Pretence to begin anew and count it over again ; on other occasions he would make Time by ridiculous 
 discourses upon the odd size or shajye of Particular Sixpences, SOUND another upon the Table, to try 
 if it was sufficient coin, and sotnetimes he would quit his occupation altogether upon Pretence of some 
 sudden Errand or Call out of the room. Very often they employed one Coggill, by his ordinary occu- 
 pation a Porter, to act the Teller, and he lost time and blundered with great alacrity — being instructed 
 to do his worst." 
 
 So the game went on ! During thirty days Trotter only got payment for 
 notes to the value of under ^i,ioo. This programme continued for months, till — 
 
 " Mr. Trotter's flesh and blood could endure this treatment no longer ; and, accordingly, we find him in 
 Murdock's telling-room on 23rd January, 1759, solemnly accompanied by a notary and two witnesses. 
 Utterly abandoned, the shameless Coggill was again set to work * in the usual manner of payment ' in 
 sixpences. Some noteholders were not so well treated as Mr. Trotter, being called ' scoundrels ' by the 
 tellers, and otherwise abused. Sometimes a beating was threatened, and one man was said to have got 
 both a beating and payment in sixpences. The instant the clock struck five all troublesome parties 
 were ' thrust out of doors by the shoulders ' — a mode of satisfaction of which there is little doubt Mr, 
 Trotter had experience." 
 
 Litigation followed, in the course of which it was shown that with a capital of 
 only ;^i 5,000, Murdock and Co. had a note circulation of ;^20o,ooo. 
 
 During the growth of the three large companies — the Bank of Scotland, the 
 Royal Bank, and the British Linen Company — another class of trader had developed, 
 namely, the private banker. An advertisement from a newspaper of July, 1730, 
 gives some idea of the business they undertook. James Blair, Merchant, at the 
 head of the Saltmarket, in Glasgow, announces the following : — 
 
 " All persons who have occasion to buy or sell bills of exchange, or want to borrow money, or have 
 money to lend on interest, or have any sort of goods to sell, or want to buy any kind of goods, or who 
 
__^ [_io] 
 
 want to buy Sugar house notes, or other good bills, or desire to have such notes or bills discounted, 
 or who want to have policies signed, or incline to underwrite policies on ships or goods, may deliver 
 their commands." 
 
 Many of these merchant bankers acted as agents for the distribution of the 
 notes of the Bank and the Royal Bank of Scotland. Prominent amongst them 
 stood out John Coutts, of Edinburgh (afterwards Sir William Forbes & Co.), 
 whose son James migrated south as many a Scotchman has done since, and 
 married the niece and became the partner of Mr. Campbell, the firm becoming 
 Campbell and Coutts of London. A mutual friend of John Coutts of Edinburgh 
 and George Campbell of London, was Ralph Carr, Merchant, of Newcastle, who, 
 in conjunction with the Edinburgh and London firms, found the gold required to 
 pay the Government troops during the rising of 1745. (See "Old Bank," 
 Newcastle). 
 
 The development of banking and the issue of paper money made rapid 
 progress in Scotland. The Darlington Pamphlet for July 3rd, 1772, announces : — 
 
 " To so high a pitch had the Scotch carried their rage for paper money that there is hardly a fishing- 
 town in the kingdom but has a bank. Even their publicans were wont to issue notes. It is reported of 
 one of them that when one of his notes was brought to him for payment he could not discharge it, but 
 he gave the bearer a pot of beer, and marked it upon the back of the bill as part of payment. It is 
 said that the Scotch have ten times more paper money in proportion to their specie, than ever the 
 English had." 
 
 At various times the forgery of their notes troubled the early Scotch bankers. 
 A Newcastle paper, of September 9th, 1768, says: — 
 
 " We are informed from Aberdeen, that on account of the late forgery of the Thistle Bank, of Glasgow, 
 the Banking Company there have refused taking any kind of their notes, as the counterfeited notes are 
 fabricated so much like the real notes that they cannot easily be discovered." 
 
 Having given an outline of the early formation and growth of the Scottish 
 banks up to the time of similar institutions being opened in the district we have 
 undertaken to review, we quit the subject as far as banking north of the 
 Tweed is concerned, and leave the consideration of the wonderful development of 
 the Scottish banking system, that now spreads like a network over the whole 
 country, and has become proverbial for its ability and stability. 
 
[II] 
 
 CHAPTER III. 
 
 INCIDENTS PRIOR TO PROVINCIAL BANKING. 
 
 Early use of coined money — The Northumbrian " Styca " — Silver Pennies — Their 
 almost exclusive use till the reign of Edward III. — Establishment of local 
 Mints and provincial Exchanges — Account of York Mint — Durham Mint — 
 Newcastle Mint — Specimens of various coins — London and Provincial Trade 
 Tokens — Counterfeit Copper — The new Copper Coinage of 1797 — Silver 
 Tokens — Set issued by John Robertson, of Newcastle — Carriage of Treasure 
 —Money hidden— The Will of Ricliard Belassis— Robbery of Gold— The 
 Town's Hutch — Towers of the Guilds — Assay Office opened in Newcastle — 
 " The Pretender " in Scotland — Duke of Cumberland in Newcastle — Cash 
 wanted for Troops — Ralph Carr supplies it — George Campbell suggests Bank 
 in Newcastle. 
 
 HAVING given some slight account of the state of banking in the great 
 centres of commerce to the North and South of Newcastle, as repre- 
 sented by London and Edinburgh, let us now consider a few incidents 
 relative to monetary transactions prior to the foundation of the first Bank in the 
 district. 
 
 The use of coined money for the purposes of trade goes back to the earliest 
 period of our history ; but there are no pieces either in the scanty coinage of 
 Britain or among the numerous hoards of Roman money which the northern 
 camps have yielded, which can be assigned to a definite locality in the North 
 of England, although among the former a distinct class of coins of very rude 
 workmanship is found exclusively in the territory of the Brigantes. 
 
 The first English coinage of 
 copper, however, is of a type 
 peculiar to Northumbria, and is 
 supposed to owe its origin to the 
 survival in the North of England 
 of the later Roman small brass 
 g^ ' coinage long after the withdrawal 
 
 of the legionaries. Large hoards 
 of these coins are from time to time unearthed upon the line of the Roman Wall, 
 and they were probably used'in Saxon times concurrently with the silver Sceatta. 
 
[^ 
 
 The Northumbrian coin which succeeded them is called the Styca. It is a 
 small copper piece about half an inch in diameter, having upon one face the 
 
 StYCAS of iETHELRED II. AND WiGMUND, AeCHBISHOP OF YORK. 
 
 name of a king or archbishop and upon the other that of his moneyer, with the 
 simplest possible device, usually a small cross or circlet with a dot in the centre. 
 The earliest known specimen is assigned to ECGFRITH, King of Northumbria 
 from 670 to 685. This series includes a vast number of varieties of a very uniform 
 type and is continued intermittently through a line of Kings of Northumbria and 
 Archbishops of York for about two centuries, when it is superseded by the silver 
 pennies of the Danish and Norse Kings of Northumbria. 
 
 The large collection of stycas in the Museum of the Society of Antiquaries of 
 Newcastle was formed chiefly from the enormous find made in 1832 by the sexton 
 in digging a grave on the north side of Hexham Abbey Church, when upwards of 
 8,000 specimens were discovered hoarded in a large bronze pail. 
 
 The series of silver pennies and halfpence coined under the Danish and Norse 
 Kings covers the next two centuries, and though it exhibits little that is artistic in 
 its design and the slightest possible variation in type, is distinguished by great 
 precision of workmanship. 
 
 Pennies of Guthred Gndt, Danish King of Northumbria. 
 
 A very large proportion of the recorded specimens are from a deposit of about 
 7,000 coins and 1,000 ounces of silver bullion found in the banks of the river Ribble, 
 at Cuerdale, in 1840. 
 
[^3j 
 
 Pennies continued to be struck at York during the remainder of the pre- 
 conquest period, but with the exception of a ver}' doubtful attribution of a coin to 
 Corbridge there is no other place of mintage in Anglo-Saxon times which comes 
 within the geographical limits of this work. 
 
 Penny op ^thelstan, stbuck at York. 
 
 For several centuries the currency of England consisted almost exclusively of 
 silver pennies, and until the reign of Edward III. there was no regular coinage of 
 pieces of a higher value. 
 
 Owing to the difficulty of conveying money to distant places, local mints were 
 at an early period, established at various towns in England, and the dies for coining 
 were issued to them from the central mint at the Tower of London, subject to the 
 payment of a rent for their use. To facilitate the circulation of the money coined 
 by provincial mints. Exchanges were established in some of the chief towns, 
 at which bullion and plate were purchased, and where a table was kept 
 setting out the rates at which English money would be exchanged for foreign 
 specie. The exchanges in the north of which we have records were at York, 
 Newcastle-upon-Tyne, and Hull, and at the same towns, with Durham and 
 Berwick-upon-Tweed, were the principal mints in the North-east of England. 
 
 The English mints at Bersvick-upon-Tweed and Kingston-upon-Hull were in 
 operation only under the first three Edwards. To the former town is assigned a 
 mintage in the Scottish coinage of pennies issued under the Northumbrian earldom 
 of Henry, son of David I., some of whose coins have been attributed by Mr. 
 Longstaffe to Bamburgh. 
 
 YORK MINT. 
 
 Both a Royal and an Episcopal mint existed at York. The earliest record of 
 the latter is in the Styca of ECGBEHRT, Archbishop, 734, and it was continued 
 at intervals to the dissolution. Thomas Wolsey, who was archbishop from 1515 
 to 1 53 1 struck, in addition to the pennies which were the staple coinage of the 
 provincial mints, groats, half groats, and halfjpence, marked with the cardinal's hat. 
 
[Hj 
 
 and in some cases with the crossed keys and his initials, T.W., and one of the 
 articles of accusation against him at his impeachment was this use of his own 
 private mint marks upon the larger pieces of money. 
 
 Groat and Halp-Groat of Henry VIII., Struck at York by Cardinal Wolsey. 
 
 The first certain appearance of the Royal Mint at York is under Athelstane, 
 and several of his successors coined there. After the conquest the mint continued 
 to increase in importance and under Edward I. was allowed twelve furnaces. It is 
 supposed that the greater part of the University plate which was ceded to 
 Charles I. during the Civil Wars, was made into coin at York. The mint was once 
 more re-opened when the worn and obsolete money was called in under William III., 
 1695 to 1697. -^ letter Y under the bust marks the pieces which were then issued 
 at York, and with this re-coinage the old provincial mints finally ceased their 
 operations. 
 
 DURHAM MINT. 
 
 No pre-conquest coins have been assigned to Durham, a penny of William I. 
 being the earliest which bears the name of this city. The interest of the Royal 
 Mint at Durham is completely overshadowed by that of the Episcopal, which has 
 received much attention at the hands of numismatists. The date of its foundation, 
 however, has not been ascertained, but it appears that it was situated within the 
 castle. 
 
 It is recorded that Henry II. when he placed dies at Newcastle reduced the 
 rent of those in use at Durham from ten to three marks. 
 
 The pennies of Bishop Beck (1283-1310), the earliest of which we have existing 
 examples, are distinguished by bearing as a Mint mark, or in one quarter of the 
 
[i5j 
 
 reverse the arms of his family, a cross moline. His successors, Bishops Kellow and 
 Hatfield, curled the end of one of the arms of the great cross on the reverse of their 
 coins in the form of a pastoral staff. 
 
 Lawrence Booth, Bishop 1457, marked his coins with the initial of his name 
 B., and manufactured, under a licence from Edward IV., for his own use the 
 standard and trussells bearing the dies for his coinage of sterlings and halfpence, 
 but this pri\ilege was withdrawn by Richard HI., who ordered the standards and 
 trussells made at Durham to be broken and others to be issued from the Tower of 
 London in their stead. 
 
 DoBHAM Pennies — Edward I., Bishops Beck, Kellow, and Wolsey. 
 
 The coins of the succeeding bishops were for the most part marked with their 
 initials for a difference, those of Wolsey bearing in addition the Cardinal's hat. The 
 extent of his coinage is indicated in the following extract from a letter addressed to 
 him by Wm. Frankeleyn, Chancellor of Durham* : — " At my last being at London 
 I spake to a frende to pro\yde me silver for coining at Duresme and on Good Fryday 
 I received a I're from hym whereby I p'ceive that I shall have of hym every yere 
 1200.1. of silver whiche will be very profettable bothe to your grace and also to all 
 the countrie. I intend to bringe downe with me from London as miche silver as I 
 can get and 2 or 3 moo coynars, and also we must have many moo coyning yrons, 
 for I received but 24 from Mr. Toynes, whyche yrons will endure but a litell space 
 if we have plentie of silver and workmen as I trust to have." 
 
 Tunstal, who succeeded Wolsey in 1529, was the last Bishop of Durham who 
 enjoyed the privilege -of coining. 
 
 ♦ Noble's Dissertation apon the^Coins of Durham. 
 
[i6] 
 
 NEWCASTLE MINT. 
 
 A mint was first granted to Newcastle by Henry II. whose moneyer inscribes 
 his name WILLEM. ON. NEVCAS. upon some of the pennies of this reign. 
 
 Arkenwaldus and WiHiam, the son of WiUiam, are mentioned as moneyers 
 under King John, and Brand quotes a mandate of King Henry III. of the year 
 1249, commanding the baihffs and good men of Newcastle-upon-Tyne to elect 
 four persons to be moneyers and four others to have custody of the Royal Mints. 
 Two goldsmiths were also to be chosen to assay the money, and a clerk to 
 keep the exchange. 
 
 Pennies Struck at Newcastle-upon-Tyne and Berwick-upon-Tweed. 
 
 Under Edward I. the Newcastle mint had two furnaces, and houses were 
 built for coiners who were to come from beyond the sea. The last coins issued 
 from this Mint are the pennies of Edward II. 
 
 During the Civil Wars the Royal Mint in following the fortunes of the King 
 suffered many vicissitudes, and among the interesting pieces of necessity and siege 
 pieces issued during this period two are from towns in the North-east of England, 
 
 Ohaeles II. Pontepeact Shilling— " Post Mortem patris pro filio." 
 
[TTj 
 
 the octagonal shilling of Pontefract and the Scarborough siege money, stamped 
 upon irregularly cut pieces of silver plate. 
 
 The much abused patents for the issue of copper farthings granted by James I. 
 to Lord Harrington and continued by Charles I. were cancelled by the Parliament, 
 and the scarcity of small change which ensued was followed by the issue of a vast 
 number of private tokens by London and provincial tradesmen which were in 
 circulation from 1648 until 1672, when our modern copper coinage was originated 
 
 Tradesmen's Tokens — Seventeenth Century. 
 
 by Charles IL These small tokens were much less commonly used in the border 
 counties, probably because the Scotch copper had obtained a considerable 
 circulation in the North of England. 
 
 In the later years of George IL it was estimated that nearly one-half of the 
 pence and half-pence in circulation was counterfeit, and the copper coinage 
 generally had been allowed by neglect to fall into so bad a state that in 1787, 
 private tokens were again tolerated ; they were issued in enomious numbers by 
 traders throughout the kingdom, and their devices often record matters of interest 
 in local history, many of the pieces were struck rather for the curious collector 
 than for actual monetary use, and the changes of type introduced with this view 
 multiplied the varieties to a very large total, in which most of the principal towns 
 in the North of England are represented. 
 
[i8] 
 
 ""^n 
 
 Northumberland and Durham Tokens. 
 
 The new coinage of copper for the State, struck by Mr. Bolton, at the Soho 
 Works, Birmingham, in 1797, was the first step in the direction of a better national 
 currency. The suspension of specie payments by the Bank of England in the same 
 year, and the consequent depletion of bullion, aided by the drain of foreign war, so 
 intensified the scarcity of silver, that the various attempts to supply the want, first 
 by the issue of Spanish dollars, countermarked with the head of George III., and 
 
 Spanish Doliab, Countermarked with the Head op George III. 
 
[J9] 
 
 later, by the authorised coinage of silver tokens by the Bank of England, were 
 altogether inadequate. 
 
 
 / 
 
 '.'/ 
 
 '^■'^■uiiuui^iiti*^ 
 
 Bank of England Tokens. 
 
 Counterfeits were in circulation almost as soon as the new coins appeared, and 
 each succeeding issue, though diminished in weight to meet the steady rise in the 
 price of bullion, after a brief existence, and in spite of all penal enactments, found 
 its way to the inevitable melting-pot. 
 
 The difficulties and scarcity increased, and in the years 1811-12 private local 
 tokens in silver were coined in considerable quantities. Many of the towns in 
 Yorkshire appear in this series, and a set consisting of half-crown, eighteenpence, 
 shilling, and sixpence, of more than the average merit in design and execution, were 
 issued by John Robertson, of Newcastle-upon-Tyne. These coins in common with 
 most of their class are very much below the standard weight, though they are struck 
 on silver of higher quality than is usual. The melting down of the heavier bank 
 tokens to supply material for manufacture of those issued by tradesmen led to the 
 passing of an Act which prohibited the use of the latter coin after Lady Day, 18 13, 
 and the issue of private tokens in copper was also made penal in 18 18. 
 
[20] 
 
 Kobertson's Newcastle Tokens. 
 
 Newcastle Tokens. 
 
 The completion of the great re-coinage, instituted in 1816, in a few years 
 removed finally all need for the circulation of provincial specie in the North of 
 England and throughout the Kingdom. 
 
[21J 
 
 The transport of money from town to town was both difficult and dangerous. 
 We are informed that 
 
 " in 1304, £4,000 was transmitted from York to Scotland ; five carters were engaged for the transit ; 
 twelve archers accompanied them, six men to watch the carriage ; besides John le Convers and Walter 
 de Gilling, who had general oversight of the transaction. The money was packed in eight barrels made 
 out of three empty casks. The first day they reached Easingwold, the next passed through North 
 Allerton to Darlington. In 1339 £200 was carried from York to Durham in three days, laid in 
 panniers on a horse's back, and two men-atarms and four archers guarded it." 
 
 Even at the close of the sixteenth century the fortunate possessor of money 
 had great difficulty in finding safe places of deposit ; the country was infested with 
 thieves, and burying and hiding were often resorted to. The will of Richard 
 Belassis, of Morton Grange, Houghton-le-Spring (1599), which is printed in vol. 38 
 of the Surtees Society's publications, gives an interesting illustration of this practice. 
 His property consists of " old angels, old rials and new rials or sovereigns, English 
 crowns, French crowns, shillings, testons, current coin of gold, double ducats, old 
 nobles, etc. One sum of ^400 made up of shillings and testons in eight leather 
 bags." A great part of the money was done up in paper or lead and hidden in 
 most extraordinary places. ;^200 consisting of shillings and testons was put 
 " edgeways into a box, walled up, in a hollow place, within the wall of the newe 
 great chamber." The will contains minute descriptions of where the money may 
 be found. It appears to have been hidden for safety and not from a miserly spirit. 
 
 A story from the "Annals of Yorkshire" will also illustrate the absence of the 
 country banker in Charles the First's time. Samuel Sunderland, Esq., resided at 
 Arthing Hill, near Bingley. He was a wealthy man and known to have a great 
 quantity of gold stored in bags and hidden in the house. Two men determined 
 to relieve him of some of it, and soon carried their resolve into effect. Before 
 starting they had taken the precaution to have their horses "shod backwards" so 
 that any one pursuing should be put off the scent. They made good their escape, 
 but forgot a dog they had brought with them and fastened up. The animal was 
 discovered by the loser of the property and a use for him speedily devised. A 
 pursuit party was organised, who were to follow the dog directly he was set loose, 
 care being taken to damage one of his legs so that he might not be too swift for 
 the pursuers' horses. The robbers found the stolen gold heavier than they antici- 
 pated, so they left part of it on Blackmoor and carried the rest to Collingham. Thither 
 the dog made his way, the door of the room was burst open, and the thieves caught 
 in the act of dividing the spoil. " They were sent to York, tried, condemned to 
 die, and their own apprentice was compelled to act the part of executioner." 
 
[22j 
 
 The management of the coinage was in the hands of the Government, but in 
 very early days the temptation to grow suddenly rich called out the art of the 
 base coiner. In 1565 Hugh Partridge was "put down for coyning false money 
 in the great innes in Pilgrim Street," and soon after " one Thomas a Scottsman," 
 was trying to coin " hard heddes " * upon Coquet Island, but relinquished the 
 attempt when he found he could not bring the coins to perfection. 
 
 Very little gold was to be had, and silver — ^the great medium of exchange — 
 
 was filed and clipped to an alarming extent. The "Rev. W. Fleetwood, Chaplain- 
 
 in-Ofdinary to their Majesties, " preached his renowned sermon against Clipping 
 
 before the Lord Mayor and Court of Aldermen at Guildhall Chapel, December 
 
 1 6th, 1694. 
 
 With professional clippers the North of England was as well provided as any 
 part of the country ; the very act that was so justly condemned by one reverend 
 gentleman was systematically practised by another. The vicar of Bothal near 
 Morpeth, carried on a considerable business in clipping and filing silver coins, 
 melting the produce into ingots, and selling them to the Newcastle silversmiths. 
 
 The " Town Hutch," 
 and the " Hutches " belonging 
 to the various guilds, were the 
 only receptacles for public 
 monies. A recent writer says : 
 — " Several of the companies 
 are provided with strong boxes 
 in which, before banks were 
 established, they kept their 
 cash, and there is one of these 
 ancient chests still in the Cor- 
 poration Treasurer's office. The 
 Cordwainers' strong box is a 
 work of art. There are seven 
 
 The " Town Hutch," Newcastle-upon-Tyne. 
 
 locks which are opened from one keyhole in the centre of the lid." The " Towers " 
 of these guilds were also used as places of safe custody for many title-deeds and 
 valuable papers. The Receiver of Inland Revenue was paid in cash, 
 which he had great difficulty in remitting to head-quarters. He was allowed to 
 keep the money for a certain time that he might, if possible, purchase bills fi-om 
 merchants and traders payable in London. Manufacturers in many places when 
 short of coin, were paying their workpeople with " promises to pay" written upon 
 
 * See Chapter XII. 
 
[23] 
 
 paper, and so initiating a kind of countr}^ bank note. Wealthy tradesmen and 
 manufacturers were obliging their customers and friends by keeping their money 
 for them, and allowing a small interest upon the same. 
 
 In 1702 an Assay office was established 
 in Newcastle for the purpose of testing and 
 marking gold and silver articles manu- 
 factured in the town. 
 
 The death of one of the Masters is thus 
 announced, April 14th, 1759. "Last week 
 died the Ingenious and Mathematical Mr. ^^^^^ Marks. 
 
 William Yryox, Assay Master of the Plate Office here and for the counties of 
 Durham and Northumberland, eminent for musical instruments and toys." 
 
 In 1745 the Pretender, Prince Charles Edward, landed in Scotland, gathered 
 sundr}' supporters around him, gained possession of Edinburgh, and soon after 
 defeated General Cope at Preston Pans, the General and his army retiring to Ber- 
 wick. Such proceedings naturally spread consternation throughout Newcastle. 
 Men were called to arms. Royal troops were going and coming. The Duke of 
 Cumberland passed through the town at the head of a fomiidable army, en route 
 for Scotland. Money was required in Newcastle to pay the troops, and all the gold 
 that could possibly be gathered, had to be sent to Scotland for a like purpose. The 
 business was undertaken by Ralph Can, general merchant. The fulfilment of 
 these obligations put him in constant communication with Mr. Coutts of Edinburgh, 
 and Mr. Campbell of London. So well did Mr. Carr carry out the commission 
 entrusted to his charge, that after the country had been restored to quietness, Mr. 
 Campbell suggested to him the suitability of his forming a bank in Newcastle, 
 which he subsequently accomphshed. 
 
 There was no friendly banker to take charge of the plate chest. The Wardens 
 of All Saints' Church, Newcastle-upon-Tyne, were possessed of some very valuable 
 plate. In 1745 (when the town was in great alarm from fear of the Pretender), 
 their books show a payment of 5s. to the gravedigger for concealing the plate. 
 
 Only a few years before the establishment of the first bank in Newcastle we 
 read (January 2nd, 1749), "This day the Duke of Newcastle's grand service of 
 plate, valued at ;^400,ooo, was brought in a keel to the Custom House in 
 Newcastle, properly guarded from Shields, it having arrived there a few days 
 before in a vessel from Holland. The next day a waggon loaded with it set 
 forward for London escorted by a party of dragoons." 
 
[24] 
 
 CHAPTER IV. 
 
 PROVINCIAL BANKING— 1755 to 1775. 
 
 Ralph Carr forms first Provincial Bank, 1755 — Mail guarded — Coiners at work — 
 Lottery Tickets issued — Subscriptions received — Difficulties of Postage — 
 Exchequer Bills — Foreign Gold — Newcastle Forgery — " Exchange " Bank 
 — " Bogus " Notes — Robbery of Mail Bags — Hazlet hung in chains on 
 Gateshead Fell — Clement, first Banker of Darlington — First Panic, 1772 — 
 Notes guaranteed — List of Names — Coaches will not carry Money — Roberts, 
 the Coiner, executed — Small Paper Money — J. & J. Backhouse's " Banking 
 Shop " started — Light Gold — Smugglers clear the country of it — Increase of 
 Small Notes. 
 
 A CTING upon the suggestion made by Mr. Campbell, as related in the last 
 XjL chapter, Mr. Carr, with three other gentlemen, formed the bank of 
 Bell, Cookson, Carr, and Airey. When other firms started, the 
 pioneers were accorded the title of the " Old Bank," and were afterwards known 
 as " Sir Matthew White Ridley & Co." The exact date of their commencing 
 business is uncertain ; but it was not later than August, 1755, as in that month 
 they issued their own notes.* This I claim to be the first regularly constituted 
 country bank in England. f The reasons for the same will be seen in the account 
 of the firm. They adopted all the branches of a regular banking business — 
 opened drawing accounts, received money on deposit, discounted bills, and 
 issued drafts on their London agents. 
 
 So far as we know at present, the first banking house was situated in Pilgrim 
 Street, near the end of Silver Street, the ancient name of which was " Jews' Gate," 
 probably pointing to a time when the Hebrew resided in that locality, and was the 
 banker of his day, afterwards giving place to the Silver Smith, who, in his turn 
 made way for the modern banker. 
 
 * la some places the introduction of private bank notes met with opposition. In " A Century of Banliing 
 in Dundee," Mr. Boase says—" On the 16th August, 1768, the heritors in Haddington resolved not to receive in 
 payments the notes of any other bank tlian the two banks established by public authority, except at a discount 
 of Id. each £1, being the rate charged by Johnston & Smith for such notes in Edinburgh. And, on the 4th 
 October, the freeholders of Berwick resolved not to receive any notes, except those of the two Edinburgh Banks, 
 without being endorsed by the party giving them ; and this only till 10th January next. After that date they 
 will not, on any consideration whatever, receive such notes in payments, or otherwise." 
 
 + Since writing the above, I have been in correspondence with Mr. F. C. Smith of Nottingham, who 
 challenges my assertion, and kindly favours me with some interesting information regarding the foundation of 
 the well-known banking house of Samuel Smith & Co., Nottingham. (See " Old Bank.") 
 
[25} 
 
 Confidence was soon established regarding the notes of the new bank. In 
 February, 1757, it was announced that the Collector of Excise would accept the 
 same in pa}'Tnent or give cash for them. How the bank obtained its treasure we 
 have no record, but it must have been a difficult and dangerous matter. Two 
 years after it commenced, "the South Mail came guarded by a person on 
 
 horseback with a sword drawn, and behind 
 by another with a charged blunderbuss, which 
 precaution is now taken on all the principal 
 roads to prevent it being robbed." Thanks 
 to the preserving hand of Alderman Cail (since 
 deceased), we are able to give a representation 
 of the identical blunderbuss that was carried. 
 
 At this time coiners of base money were 
 at work. One, John Heslop by name, was in 
 custody at Morpeth, and there detained while 
 the authorities advertise for "all persons who 
 can give evidence against him." 
 
 Announcements early appeared in the local 
 
 papers stating that " Lotter}^ Tickets can be 
 
 obtained at the bank ; " the trade pre\iously 
 
 having been in the hands of the stationers. 
 
 The practice of receiving money at the banks 
 
 for public purposes was also soon instituted. 
 
 Prior to this date the coffee houses and circulating libraries were the depots for the 
 
 subscription lists. The new banks required interest tables, which were supplied by 
 
 "John Payne of the Bank of England," each copy being signed by the author. 
 
 Originally, all the notes issued by each bank were from one plate ; the 
 amount, and the name of the person to whom they were issued being filled in by 
 hand. For sums above £1, the practice of inserting the name of the first holder 
 (or an assumed name for all notes) was retained for many years. 
 
 The difficulties of postage would astonish the modem banker with his 
 numerous local branches. The Newcastle Courant of March ist, 1760, says : — 
 
 *' Notice is hereby given, ' That the Post Master of Newcastle, upon the resignation of Mrs. Bewley, 
 Post Mistress of North Shields, has appointed Henry Dixon of the same place to be his deputy whose 
 fidelity he will be answerable for. At whose office in the Fish Market in North Shields all letters are 
 taken in at one half -penny each letter, and will be carefully forwarded from thence, Sundays, 
 Tuesdays, and Fridays, at 6 o'clock on the same evenings. N.B. — All letters directed on board the 
 Ships, pays the postage on putting in also all foreign letters.' " 
 
[26j 
 
 In 1760, Exchequer Bills were likely to press out bank notes. The Newcastle 
 Courant says : — 
 
 " It may be necessary to observe that, as many Exchequer Bills are now issued for circulation, that 
 they bear a daily interest of two pence for every £100, and one penny for every £50 and so on, as there 
 are days elapsed since there being signed, so that on negotiating them so many days Interest is 
 transferable and by which they are preferable to Bank Notes which never grow better by keeping, 
 whereas these daily improve." 
 
 An Exchequer Bill, though issued at a much earlier date, is here produced. 
 It bears interest at one farthing per day. 
 
 i^ 
 
 'hliHlli: 
 
 V 
 
 The endorsements on the back are also shown. 
 
 . y i ay. ; ^,U,(|.' y.^|^.;v.~.^g»r-f'~-^T;. 
 
 I have previously spoken of the practice resorted to by some of the Scotch 
 bankers when pressed for the payment of their notes, of cashing the same in 
 sixpences, each coin being deliberately handled so as to gain as much time as 
 possible. There is every appearance of the following announcement referring to 
 some such event. Newcastle Journal, February 21st, 1761 : — 
 
 " By a letter from Berwick we are advised, that a few days ago a Post Chaise passed through that place 
 from Edinburgh with upwards of £3,000 in silver, mostly sixpences, which the Old Bank of Scotland 
 has paid for their Notes to Sundry Tradesmen from England. This method of payment, as also of 
 bringing cash by land and sea from London (from whence 1500 in Silver for the Bank was taken, 
 wrecked in a ship lost near Dundee) is supposed to be taken to keep up the present high Exchange on 
 Bills, which for some time past has borne the extravagant Premium of one, and one and a quarter per 
 
[J7] . 
 
 cent., at 30 days. These practices may enrich individuals but they greatly distress the Trade of that 
 City in general." 
 
 A great deal of foreign gold appears to have been in circulation, some of which 
 was spurious. The public were often warned against taking " thirty-six shilling 
 pieces or Johannas, twenty-seven shilling pieces or moidores, and three pound 
 twelve shilling pieces." 
 
 In 1765 the bank was troubled with the first forger}' of notes. It occasioned 
 a visit of two of the partners to Edinburgh, but eventually the forger proved to be 
 a Newcastle engraver, who escaped b}' the false swearing of a female friend. She 
 was subsequently pilloried for her crime. 
 
 In 1768 the second bank was opened in Newcastle under the name of the 
 "Exchange Bank," the partners being Aubone Surtees and Rowland Burdon, 
 gentlemen long known in the town and district as merchants of high standing and 
 great wealth. Their premises were at the corner of Silver Street and Pilgrim 
 Street. We have every reason to believe that they obtained a good share of 
 public support. A £1 note of theirs dated November 8th, 1770, is the first that 
 has come under my notice. 
 
 "Bogus" notes were issued as early as 1770. 
 
 " Certain false notes of hand resembling bank notes of copper plate print on thin paper, with a number, 
 letter, and shepherdess (instead of Britannia) at the corner, and the sum in white letters on black spots 
 at the bottom in smaller strokes than in real bank notes, were circulating round the town." 
 
 The dangers in fomier days to which bankers and merchants were exposed, 
 when sending remittances by post, are illustrated by the following : — 
 
 "In 1770 Miss Margaret Banson, sister of the wTiting master of the Free 
 Grammar School, Newcastle,* was returning in a post chaise from Durham to 
 Newcastle on August 6th, about 9 o'clock in the evening. On Gateshead Fell she 
 was attacked by a highwayman and robbed of half-a-guinea. When Miss Banson 
 got near Gateshead she met the postman, whom she informed of her adventure 
 and advised to return to Newcastle for a guard. This advice he refused. When a 
 few miles along the road, he was joined by a countryman whom he told of the 
 robbery of Miss Banson. They travelled a little way in company when the 
 stranger showed his true colours and demanded the mail bags on pain of death. 
 The bags contained a £20 bank note and some bills. The highwayman proved to 
 be Robert Hazlet. He was subsequently taken, tried at Durham, and sentenced to 
 death. He was executed near that city, and after hanging some time, the body 
 was cut down and carried in a cart to a gibbet twenty-five feet high. It was 
 
 ♦ " The complete Exchange Tables of Exchange for ready and exact computation of any sum of money 
 remitted from Great Britain to Holland. By Wm. Banson, 1717, dedicated to the Right Worshipful Richard 
 Ridley, Esq., Merchant Adventurer, sold by the Author, Master of the Free Writing School, Newcastle upon-Tyne." 
 
w 
 
 erected about three miles from Gateshead on the east side of the road, and here 
 for many years the ghastly sight might be seen as a supposed warning to all evil 
 doers." 
 
 The newspapers of the time have paragraphs on the matter : — 
 
 August 25th, 1770. " The mail that Hazlet robbed on the Gth inst. was found on Saturday last, 
 by his directions, in a Corn Field about a mile from the Eoad." 
 
 September 8th. " The Warrant for the execution of Hazlet on Tuesday the 18th is come to 
 the Sheriff of the County of Durham, and we hear chains are ordered for his being gibbetted." 
 
 September 15th. " The place where the Gibbet is to be fixed for Hazlet, who is to be hanged at 
 Durham on Tuesday is a considerable Distance on the East Side of the Road where the Robbery of 
 the Mail was committed. 
 
 " The following affecting scene happened last week : — A Person advanced in years, was observed 
 several Days to go and kneel before the Gibbet on Gateshead Pell where he staid a considerable Time 
 regardless of the Wetness of the Weather. The last Day in particular, he prostrated himself on his bare 
 knees for upwards of an hour and became so enfeebled that he could not rise till some People gave him 
 Assistance, after which he drew out of his Pocket a Hatband and putting it on said ' He then was 
 easy ' and took his Leave of the melancholy Spectacle before him. Who he is was not known." 
 
 On November 17th, 1771, an extraordinary inundation occurred. All the 
 bridges over the Tyne, except that of Corbridge, were swept away. The damage 
 to property and the sacrifice of human life were very great. On January 25th of 
 the following year, "Subscriptions for the Relief of sufferers in the late inundation" 
 were received at the " Exchange " and the " Old " banks. 
 
 About this time a third banker appeared in the field. In 1772, "J. Clement, 
 Banker, of Darlington," advertised to give " Guineas or drafts at one month on 
 London in exchange for Portugal Gold." Ere the year closed, the existing firms 
 experienced their first difficulties. So far, confidence (which is everything) in the 
 notes of the country banker was unbounded. Upon this subject a writer says : — 
 
 " The credit given to the circulation of country bankers' notes must owe its maintenance to the 
 spontaneous confidence of the public, for credit is a consequence, not a cause ; the effect of a substance, 
 not a substance ; 'tis the sunshine, not the sun ; the quickening that gives life to trade, gives being to 
 the branches and moisture to the root : it is the oil of the wheel, the marrow in the bones, the blood 
 in the veins, and the spirit in the heart, of all negotiations of trade, cash, and commerce." 
 
 In 1772 this confidence received its first rude check. In June a panic occurred 
 in London. Sir Richard Glyn and Hallifax, Bankers, stopped payment, and general 
 consternation followed, which in time spread to the provinces. Of what really 
 took place in Newcastle I have slight account, as the local newspapers do 
 not refer to it. My only information is gained from an Edinburgh paper of 
 July 3rd, which has the following announcement : — 
 
 " We whose names are hereunto subscribed, do hereby agree, in support of 
 the credit of Messrs. Bell, Cookson, Carr, Widdrington, and Saint, proprietors of 
 
[29] 
 
 the Newcastle Bank, and of Messrs. Surtees and Burdon, proprietors of the 
 Exchange Bank in Newcastle, to take the notes of the said banks respectively in 
 payment, or to give promissorj^ notes for the value of such Bank Notes payable 
 one month after date ; and which promissor\^ notes we have authorised, and do 
 hereby authorise Mr. Joseph Paxton, and Mr. John Graham, of Newcastle-upon- 
 Tyne, or either of them to sign on our joint account : And we agree hereby to 
 pay the several sums for which such notes shall be given. Witness our hands, 
 this 29th day of June, 1772." 
 
 Thomas Lyon, for the Earl of 
 
 Strathmore. 
 Walter Blackett. 
 Matthew Ridley. 
 John Simpson. 
 Joseph Reay. 
 Giles Alcock. 
 Cristopher Fawcett. 
 Edward Mosley. 
 John Hedley. 
 Matthew Scaife. 
 Richard Lambert. 
 Percival Clennell. 
 Thomas Riddell. 
 Alexander Adams. 
 Nicholas Walton. 
 George Stevenson. 
 Nicholas Walton, jun. 
 Henry Colliugwood. 
 Henry Airey. 
 Langdale Sunderland. 
 Jonathan Airey. 
 Aitkinson and Hall. 
 Monkhouse and Hopper. 
 John S. Ker. 
 Benjamin Gibson. 
 
 Landell and Chambers. 
 Richard Brown. 
 Barker and Wolfall. 
 James Clarke. 
 Jonathan Sorsbie, jun. 
 Thomas Ismay. 
 Jonathan Skelton. 
 William Nisbitt. 
 Stodart Rutherford. 
 Ormston and Lamb. 
 William Scurfield. 
 John Erasmus Blackett. 
 John Kirsop. 
 Thomas Swainston. 
 Middleton Hewitson. 
 Richard Burdus. 
 Williajn Coulson. 
 Thomas Hindmarsh. 
 Davidson Richd. Grieve. 
 Richard Lacy. 
 Thomas Maude. 
 John Kirkup. 
 Shaftoe Coulter & Co. 
 William Darnell. 
 William Harbottle. 
 
 Thompson and Reay. 
 William Gibson. 
 William Cuthbert. 
 Joseph Whiteby. 
 Matthew Reed. 
 John Graham. 
 Benjamin Emmerson. 
 Blagdon and Cramlington. 
 John Bell. 
 William Peareth. 
 William Johnson. 
 Robert Lisle. 
 Cristopher Wilkinson. 
 Matthew Bell, jun. 
 Robert Greenwell. 
 Cornelius Charleton. 
 George Anderson. 
 Matthew Waters. 
 Henry Ellison. 
 Charles Brandling. 
 William Lowes. 
 Joseph Ord. 
 Henry Gibson. 
 Ralph Stodart. 
 Thomas Hawdon. 
 Edward Anderson. 
 
 Robert Young. 
 
 N.B. — The original undertaking is deposited with the Town Clerk of Newcastle. Mr. Joseph 
 Paxton will give attendance at the usual hours at Messrs. Bell, Cookson, Carr, Widdrington, and 
 Saint's bank, and Mr. John Graham at Messrs. Surtees and Burdon's bank." 
 
 Public confidence would be further strengthened by the following announce- 
 ment that appeared in the Newcastle Journal of July 4th, 1772 : — 
 
 " The Old and New Bank at Newcastle. 
 
 Whereas divers persons who are obliged to pay me several considerable sums of money at stated 
 and short times, may imagine that I expect to have the same paid in specie. 
 
 Now I hereby declare that I will in any event whatever accept from such persons for payment 
 thereof, notes from either or both of the said Banks, in their common foma, and with their usual 
 signatures, as witness my hand— Alnwick, July 2, 1772, Coll Foster." 
 
M_ 
 
 It would appear that the panic of 1772 arose from stock exchange speculations, 
 if we may judge from a paragraph that appeared in the Newcastle Chronicle, 
 July 25th:— 
 
 " So great are the losses and inconveniences sustained by many individuals from a late 
 bankruptcy, that a great number of eminent merchants and gentlemen of fortune at a meeting held 
 for that purpose, have come to a resolution not to keep their cash at any Banker who jointly or 
 separately by themselves or agents, are known to sport in the alley in what are called bulls or bears, 
 since by one unlucky stroke in this illegal traffic, usually called speculation, hundreds of their creditors 
 may be ruined ; a species of gaming that can no more be justified in persons so largely intrusted with 
 the property of others, than that of gambling at the hazard tables." 
 
 It is probable that the extra transit of money throughout the country at this 
 time, may have rendered travelling by coach more dangerous from the temptation 
 offered to the numerous highwaymen that infested the roads. An advertisement 
 of the coach from Newcastle to London that appeared in the Darli7igto7i Pamphlet, 
 shows that the owners were declining to cany money. It concludes, "The 
 Proprietors of this Machine beg leave to acquaint the Public, that they are 
 determined not to carry Money, Plate, Jewels, or Watches, upon any consideration 
 whatever : And that the said Proprietors do hereby give notice, they will not be 
 answerable for any such Articles, sent by the said Machine after the date hereof. 
 
 Sam. Wilkinson, Clerk." 
 
 The same newspaper informs us that bad silver was very plentiful. The 
 notorious Samuel Roberts was putting up base coin into convenient parcels of £^^0 
 or ^100, sorted into qualities and sold at fairs by pretended horse dealers. He 
 was also an expert "clipper" and milled the tampered coins again with special 
 machinery, the same as that in use at the Mint. On June 6th, his execution 
 cut short his further exploits. 
 
 About this time silver was so scarce that paper money was given instead. The 
 Scots Magazine for July 25, 1774, says: — 
 
 " Tickets of three, five, and seven shilling pieces, payable at sight the same as bank notes, are 
 issued by a capital person of most towns in England, which pass current, and are a great relief at this 
 time to tradesmen, especially when gold, particularly quarter guineas, is so much scrupled by the 
 farmers and country people." 
 
 In 1774 another bank was added to the list, Darlington being the field of its 
 operations. The Quaker family of Backhouse, who had long been mill-owners and 
 manufacturers of huckaback, opened a " Banking Shop." The partners were James 
 Backhouse and his son Jonathan. Little did the founders dream of the extent 
 to which the business then started would grow ! After a life of 120 years it 
 still flourishes, and by a network of branches covers the whole county of 
 Durham. It has the longest record of any north-country bank, and has always 
 retained the same name. 
 
[30 
 
 In 1773 the Government took up the question of hght gold, and eventually a 
 proclamation was issued stating that all light guineas and half guineas could be 
 exchanged for good from the 15th to the 31st August, 1774, the date and weight 
 to be the following : — 
 
 Weight, 
 dwts. grs. 
 
 Guineas prior to George III 5 3 
 
 Half Guineas 2 13 
 
 Guineas of George III. to and with 1771 5 6 
 Half „ „ 2 14 
 
 Weight, 
 dwts. grs. 
 Quarter Guineas of George III. to and 
 
 with 1771 1 7 
 
 All of George III. of 1772 and since . . 5 8 
 Half „ „ .. 2 16 
 
 After the 81st August no guineas of less weight than 5 dwts. 8 grs. to pass current. 
 
 The exchangers appointed by the Government for the north were Messrs. 
 Bell, Cookson, Carr, and Co., Newcastle, and Messrs. George and Matthew 
 Atkinson, of Temple Sowerby. The following extracts will give some idea of the 
 difficulty that existed in disposing of light gold prior to the appointment of the 
 official exchange. 
 
 A letter from Newcastle, dated Oct. i6, 1773, says : — " Thomas Charles Bigge, 
 of Little Benton, Esq., at the receipt of his rents on Tuesday last, generously took 
 from his tenants their light gold at nominal value." An announcement to the same 
 purport is made regarding Robert Shafto, Esq., of Whitworth, the Right Hon. 
 Lord Ravensworth, and the Collector of Customs. A \NTiter to a Yorkshire 
 paper gives us an idea of the state of things in that county : — 
 
 "There is no vocation or calling, within a great many miles distant from Yorkshire Coast, that 
 is so attentively executed as that of smuggling and more in particular since light gold was refused ; 
 that a great many, who could not purchase the Price of the Pegg (half an anker) before the Gold Act 
 took place, are now provided with both money and a Horse at their call, which are furnished by those 
 who have quantities of light money by them, as the Smuggling Cutters refuse none, but it is thought 
 by their increasing Trade and innumerable Customers, they will vend their Goods as quick as it is 
 possible for the Smugglers to procure them ; that if there is no Stop or Hinderance put to this pernicious 
 Practice, soon Yorkshire will have little of either light or heavy Gold, for by a moderate computation 
 what is disposed of on the Yorkshire coast in one year, amounts at least to the sum of £15,000. 
 
 We have every reason to believe that the issue of notes increased verj'^ rapidly, 
 and became a general medium of exchange for small sums. Lawson says, 
 "Previous to the year 1774, there was no legislative restriction to the issue of 
 small notes, which were circulated freely in various parts of the country, but 
 more especially in the Northern Counties." The legislation introduced in the 
 following year will be duly noted in the next chapter. 
 
[32] 
 
 CHAPTER V. 
 
 PROVINCIAL BANKING-1775 TO 1790. 
 
 Acts restraining the issue of Notes under £^ — Tyne Bank commenced — Early Forgery 
 of their Notes — Robert Knowles, Postman, executed— Several new firms start 
 at Whitby, Darlington, and Stockton-on-Tees — Commercial Bank opened in 
 Newcastle — Simpson & Chapman, Whitby — Meeting of Bankers at York to 
 oppose Tax on Receipts, &c. — Mr. Carr retires from the Old Bank — Formation 
 of Davison-Bland & Co.— The "Nabob's Bank"— R. J. Lambton & Co.— 
 Newcastle Bankers' Association — Records of their Meetings — Bad State of 
 the Copper Coinage — Quantity of Base Copper — Notices in the Newspapers 
 regarding Counterfeit Half-pence — Scale-de-Cross Bank — Official Instructions 
 as to sending Notes by Post— Gordon Riots — Bank of England in danger — 
 Note Circulation in Yorkshire — Risks of Travelling. 
 
 IN the year 1775, an Act was passed to "restrain the negotiation of 
 promissory notes, and inland letters of exchange, for any sum less than 
 twenty shiUings." I have not found any instance of a banker in the 
 district under review having ever issued a note for sums under ;^i, so that the 
 act would not affect the North of England. A few of the Scotch banks were 
 issuing notes for five shillings, and possibly some English bankers may have done 
 the same. Tw^o years later came another Act " for further restraining the 
 negotiation of promissory notes and inland bills of exchange for any sum less than 
 five pounds." In 1787 this act was made perpetual. 
 
 We may naturally infer that it would be badly received in the north, as it 
 prohibited the Northumbrian from doing what his neighbours just across the 
 border might do with impunity. Ten years afterwards, the act, as far as it 
 related to notes between the value of £1 and ^5 was suspended, which 
 suspension, by subsequent enactments, was continued for many years. 
 
 In October, 1776, T. Slack of Newcastle announced that he w^ould take light 
 gold for lottery tickets. In the same year, Mr. R. Beilby, engraver, handed to 
 the treasurer of the Infirmary " a tw^enty shilling note left by a person who 
 applied to him for a copper-plate in order to defraud the Perth United 
 Banking Company." 
 
 In March, 1777, a third bank was commenced in Newcastle, trading under the 
 name of the "Tyne Bank." Their first premises were "In the Close near Tyne 
 
[33] 
 
 Bridge." A note of theirs for £s dated June 3rd of that year, is signed — " For 
 Baker, Shafto, Ormston, Cuthbert, and Self— Joseph Lamb." In October of the 
 same year, they were troubled by the forgery of their £s notes. Those presented 
 they judiciously paid, called in all their outstanding paper, and " issued £s notes 
 from a beautiful new plate very different from the old one." About this time 
 Robert Knowles the North Shields postman, was executed for stealing a letter 
 containing two Bank of England bills, the property of Robert Rankin, merchant, 
 who subsequently became a banker. 
 
 During the next few years several new firms entered the field. It is very 
 difficult to find the exact date of their commencement, as in many cases they 
 were previously merchants or tradesmen, doing a little lending or borrowing, and 
 gradually developed into acknowledged bankers. In this way originated Thomas 
 Pearson and Sanders and Sons of Whitby ; Richardson and Mowbray of 
 Darlington (who were surveyors as well as bankers) ; Lumley and Smith of 
 Stockton-on-Tees ; and George and Henry Hutchinson of the same place. 
 
 In 1784 another properly constituted bank opened in Newcastle, making the 
 fourth in that town, the partners being Joseph Forster, Palfrey George Burrell, 
 Robert Rankin, and Joseph Harris. They traded as the "Commercial Bank," 
 their premises being in the Close opposite the Long Stairs. 
 
 In 1785 another Whitby bank commenced, the partners in which were 
 Wakefield Simpson and Abel Chapman. They subsequently obtained the title of 
 the " Old Bank," and ran their course for upwards of a century. Whitby was 
 evidently a busy town at that time, for shortly afterwards two other banking 
 firms were founded, viz., Clark, Richardson, & Hodgson ; and Pease & Co., of 
 Whitby and Malton. 
 
 The country bankers must soon have formed some kind of society for 
 mutual action in matters affecting their general welfare, for in 1783 a Bill was 
 introduced for taxing receipts and promissor}'- notes, and to protest against such a 
 measure, the north-country Bankers held a meeting at York Tavern, York. 
 Twelve firms appear to have been represented, the first on the list being 
 Messrs. Bell, Cookson, Carr, & Widdrington. 
 
 Steps to oppose the suggested tax were taken in Newcastle. We read : — 
 
 •' A very numerous meeting of the principal tradesmen of the town was yesterday held at the 
 Merchants' Court, respecting the tax intended to be laid upon receipts, when several letters received 
 from a Committee in London were laid before them. It was unanimously resolved — that the tax 
 upon receipts will be in the highest degree oppressive and injurious to the trade in this town and 
 neighbourhood. A Committee of twelve persons was appointed to correspond with other Committees 
 and to consider of the mo3t proper steps to be taken in the further prosecution of this business," 
 
 E 
 
[34] 
 
 Soon after it was announced : — 
 
 "iThe tax on promissory notes is to extend to 
 notes issued by banks, and also private 
 bankers, all over Great Britain. Guinea notes 
 of the Bank of Scotland are exempted from 
 any tax ; five pound notes to pay 3d. ; ten 
 pound notes to pay 6d; fifties, and all 
 above, Is," 
 
 Banking had now become pretty- 
 general throughout the country, and 
 competition was evident even at this 
 early date. On the 31st December, 
 1787, Ralph Carr, the originator of 
 the first bank, retired from the firm 
 in disgust, as will be seen in the 
 account of the '' Old Bank." Doubt- 
 less his remarks at this time were 
 occasioned by rumours that were 
 abroad in Newcastle as to the 
 formation of another new bank. 
 Meetings were being held at the time he penned his protest, 
 and on the ist February of the following year, a fresh 
 establishment opened its doors in Pilgrim Street, opposite 
 the end of the High Bridge. It was to be styled " Thomas 
 Davison-Bland & Co., The Bank in Newcastle." According 
 to a clause in an Act passed in sixth of Anne, the Bank of 
 England obtained the sole right to have a partnership of more 
 than six persons. The new bank starting in Newcastle in 
 1788, availed itself of the full number of partners allowed, 
 who were duly announced. In reality there were seven 
 partners, though the name of the last never appeared before 
 the public. Several of the proprietors were in some way or 
 other connected with India. So much was this the case, that 
 the new establishment was locally known as the " Nabobs' 
 Bank." The partnership thus formed only retained its original 
 title for two years, when some of the founders retired, new 
 members were admitted, and the name of the firm changed to 
 R. J.Lambton & Co., the well-known house of the present day. 
 
 Before me is a letter written by the Newcastle bankers 
 
[35] 
 
 " In the matter of the separate commission of Bankruptcy against James King." It 
 commences, " We, the Committee of Bankers in Newcastle-upon-Tyne," and 
 finishes, " Witness our hands this 30th day of July, 1788." * 
 
 This is the first intimation that the Newcastle bankers had a properly 
 constituted Association. The members of it met to consider the opening of the 
 New Bank, and agreed to deal with it upon " amicable terms." 
 
 Fortunately we are able to give some record of the resolutions passed at 
 various meetings held by this Association of bankers soon after this date, and 
 feeling sure that they will be of interest to the banker of the present day, these 
 are given in full. Some of the charges agreed upon will cause a sigh for the 
 "good old times." 
 
 " At a Meeting of the Partners of the Different Banks in Newcastle, 22nd March, 1790. 
 
 Pbesent : — 
 For Old Bank - - Mr. Widdrington, Mr. Gibson, Mr. Wilkinson. 
 
 Exchange - - Mr. A. Surtees, jun. 
 
 Tyne Bank - - Mr. Lynn. 
 
 Commercial Bank - Mr. Kent. 
 
 Bank in Newcastle - R. Chambers. 
 
 Besolved — That the Interest to be given by each Bank in future be 2J per cent, provided the Money lays 
 3 Months. 
 
 Resolved— Th&t the par Date for drawing upon London be 40 days. 
 
 Resolved — That it be taken into consideration against next Winter whether it wou'd be right to finish 
 Business at 3 o'clock in the afternoon during the 3 Winter Months. The Custom House shuts 
 up at that hour. 
 
 Dec. 1, 1790. — A meeting of the Bankers in Newcastle was held at Turner's this day, when they 
 agreed to shut up at 3 o'clock till 1st February next, every day except Saturday which is to remain as 
 before till 5 o'clock Present— Messrs. Wilkinson, Gibson, A. and J. Surtees, Lamb, Waldie, Rankin, 
 Kent, and R. Chaonbers. 
 
 1st July, 1791.— At a Meeting of the Bankers — Present — Mr. Widdrington, Mr. Gibson, Mr. 
 Wilkinson, Mr. John Surtees, Mr. Lynn, Mr. Forster, Mr. Landell, R. Chambers ; 
 
 1st.— It was proposed on the 1st of August next by J. Surtees, to charge all stamps for bills under £50 
 and none above that sum. 
 
 2nd. — To discount bills down to 30 days on London. 
 
 3rd.— To charge 1 per cent, and Postages on Returned Bills. 
 
 4th. — To allow no Interest on cash accounts. 
 
 5th.— If any person requiring a Bill on London at 60 days shou'd ask a Return of 20 days Interest not 
 to grant it. 
 
 6th. — To charge Bills on Sunderland and Shields 2s. 6d. per cent, besides postage and Interest. 
 * Messrs. Davison-Bland & Co. having so recently started their bank (February, 1768), would not be interested. 
 
[3^ 
 
 7th. — To charge Bills on other places in England, 5s. per. cent., also Edinburgh and Leith. To charge 
 Bills on other places in Scotland 10s. per cent. 
 
 N.B. — Agreed to meet again about the 20th inst. in order to determine matters after considering these 
 
 proposals. 
 
 26th July, 1791. — At a meeting of the Proprietors of the Banks of Newcastle and Durham. 
 
 Pbesent : — 
 Old Bank - . . . . Messrs. Wilkinson and Gibson. 
 
 Exchange Bank . - - . Mr. John Surtees. 
 
 Tyae Bank ----- Mr. Lynn. 
 
 Commercial Bank . . - - Messrs. Forster and Rankin. 
 
 Bank in Newcastle - - - - Mr. Chambers. 
 
 Durham Bank ... - Mr. Pearson. 
 
 Resolved and Agreed — 1st. — To take no London Bills at longer dates than 30 days par. 
 
 2nd. — Not to draw on London under 40 days par, and not to allow interest on bills which they draw at 
 longer date so as to reduce them to 40 days date. But this is not to extend to Bankers with 
 whom they exchange notes ' or to customers who have had the value 40 days at the Bankers.' 
 
 3rd. — No interest to be allowed on cash accounts. Interest is only to be allowed on notes drawn payable 
 with 2 J per cent, to be specially payable so as to prevent their transfer. Or upon Bankers' Receipts 
 with a NT. that such Interest shall be paid for the money. In amount not under £100 and only 
 in case the money remain 3 months in our hands payable with interest. 
 
 4th. — To charge on return'd bills £1 5s. per cent., for Exchange 15s., and Commission 10s., besides 
 
 Postage and Protest, and interest when due. 
 [This appears to be a mistake, except it be intended to state that if a return'd bill continued long 
 
 unpaid after its return, that Interest is to be paid from the time it falls due. — J. S.] 
 
 5th. — To charge upon Bills on Sunderland and Shields and other places in the Counties of 
 
 Northumberland and Durham and Berwick 2s. 6d. per cent, besides postage and interest. 
 6th. — To charge on bills on other places in England 5s. per cent. 
 7th. — Do. on Edinburgh and Leith 5s. per cent. 
 8th. — Do. on other places in Scotland 15s. per cent. 
 9th. — To allow no interest on London Bills paid to them at a short date. 
 
 10th. — When Stock is purchased for any customer he is to deposit the money 43 days before the 
 Purchase be made, or pay Interest for that Time. 
 
 11th. — Not to make cheques payable by bills on London but generally upon Demand by the Banker on 
 whom drawn. 
 
 12th. — These resolutions to take place on the 1st August next. " Not to extend to transactions at 
 Berwick." 
 
 Baker and Co. have made their additions which were not attended to at the meeting. 
 
 20th April, 1792. — At a meeting of the Proprietors of the Banks of Newcastle. 
 
 Peesent : — 
 Old Bank - Sir Matthew White Ridley, Bt., Mr. Widdrington, and Mr. Gibson. 
 Exchange Bank - - - Mr. Aubone Surtees, jun., and Mr. J. Surtees. 
 
 Tyne Bank - - - Mr. Lamb. 
 
 Commercial Bank - - None. 
 
 Bank in Newcastle - ■ - R. H. Williamson, Esq., R. Chambers. 
 
ijTj 
 
 Sir Benjamin Hammett's Bill being procured, or rather the heads of this intended Bill moved 
 for in the House of Commons, for the making bankers' real estate liable for their simple contract 
 debts. 
 
 Resolved — That Mr. Hopper Williamson be requested to draw up his sentiments on Paper, which he 
 has expressed verbally to the gentlemen present, and which seems to be the sense of the whole 
 meeting and to send the same to George Pearson, Esq., one of the proprietors of the Durham 
 Bank, who proposes going to London in a day or two and to request he will wait upon Sir John 
 Scott upon this Business." 
 
 From 1779 to the end of the century the state of the copper coinage and the 
 quantity of base copper in circulation, appears to have caused great trouble to the 
 tradesmen of the North of England. 
 
 The Newcastle Journal of October 23rd, 1779, says : — 
 
 " It has for many months been the practice of interested and ill-minded persons to purchase 
 bad copper coin, for little more than half-price, and by the means of xmder agents concerned in the 
 coal works and manufactories upon the River Tyne and Wear, to pay the same away amongst 
 Keelmen, Pitmen, Artificers, Mechanics, and Labourers. The incredible and amazing quantity of bad 
 half-pennys, introduced by such illegal means into this town, has induced the principal Merchants 
 and Tradesmen to take into consideration the proper mode of preventing this evil. With these views 
 they have applied to the Magistrates, who have readily assented to put in force the laws against 
 circulating counterfeit copper coin (see the advertisement), and the Merchants and Tradesmen have 
 also at the same time come to the resolution, not only to refuse such base coin in payment from 
 country shop-keepers, but have also entered into a subscription to prosecute all persons who shall 
 presume to circulate it for the future." 
 
 The advertisement referred to was the following : — 
 
 Newcastle, Octobeb 21st, 1779. 
 
 COUNTERFEIT HALFPENNYS. 
 
 The Statute of the II. Geo. 3, c. 40. For the more efiectuaUy preventing the Counterfeiting the 
 Copper Coin of this Realm, Enacts as followeth : — 
 
 1st. — " That if any Person or Persons shall make coin or counterfeit any of the Copper monies 
 of this Realm commonly called Half-penny or a Farthing, such person or persons offending therein, 
 his, her, or their Counsellors, Aiders, Abettors, and Prosecuters, shall be judged guilty of Felony. 
 
 If any person deals in copper coin below standard value . . . . to be considered Felony. 
 
 A REWARD OFFERED. 
 
 " Any person or persons who shall by an information on oath before a Magistrate, discover any 
 offender against the said Act in this town and county, so as he, or they, may be prosecuted to 
 conviction, shall be paid by the Town Clerk a reward of Twenty Guineas for each offender so 
 convicted." 
 
 A long Caution is detailed and finishes " Let all Ship Masters, Waggoners, and Carriers, be 
 aware that they don't make themselves aiders and abettors of the Coiners, by knowingly carrying their 
 Counterfeit Money. It is recommended to all labouring persons who are usually paid their wages in 
 Copper Coin, that they carefully inspect the Halfpennys they receive, and return all that are bad to 
 the payers." 
 
[38] 
 
 In 1780 the following hand-bill was issued : — 
 
 A CAUTION. 
 
 1\ /["ANY Inconveniences daily arising from the great Circulation 
 ^^^ of COUNTERFEIT HALF-PENCE in this Town and 
 Neighbourhood ; in Order to put a Stop to such illegal and 
 pernicious Practice, the Traders here have resolved, that from 
 and after the 21st Day of August inst, they will not receive any 
 COUNTERFEIT COPPER COIN in Payment. Such Resolu- 
 tion they conceive will be the only effectual Means of suppressing 
 the increasing Intercourse and Traffic of lawless Coiners and 
 some unknown atrocious Individuals, their Associates in the 
 Villany. 
 
 Newcastle, Aug. 21, 1780. 
 In 1782, a newspaper announces : — 
 
 Newcastle, October 31st, 1782. 
 
 COUNTERFEIT HALFPENNYS. 
 
 " Whereas attempts have been made to introduce large quantities of base and Counterfeit 
 Copper Coin into Circulation in this Town, an Evil, which unless timely checked may be attended with 
 great Injury to the fair Trader, and distress the Manufacturers and Workmen. The Magistrates, 
 therefore, in order to correct the Abuse, do hereby give Orders to all Sergeants at Mace and Constables, 
 to seize and bring before them all such Quantities of Counterfeit Copper Money as shall be brought 
 into this Town by Land or Water Carriage, in order that the same may be cut in Pieces or melted 
 down, and the offenders brought to condign Punishment." 
 
 Newcastle, Novembeb 7th, 1782. 
 
 " In consequence of last week's advertisement, a numerous meeting of the Merchants and 
 Traders in this Town was held in the Merchants' Court, the Right Worshipful the Mayor in the 
 Chair, when a Subscription was opened, and a Committee appointed for the purpose of pursuing the 
 most effectual measures for suppressing the Circulation of Counterfeit Copper Coin in this Town. 
 
 And at a Meeting of the Committee this Day the following Resolutions were agreed to :^ 
 
 1st. — That the Circulation of Counterfeit Copper Coin in this Town and Neighbourhood is an Evil 
 which ought to be remedied. 
 
 2nd. — That all base and Counterfeit Copper Coin so imported or introduced into this Town by Land or 
 Water carriage be immediately seized and carried before a Magistrate in order to its being melted 
 down. 
 
 3rd. — That all Persons seizing such Copper Coin so imported or introduced and carrying it before a 
 Magistrate shall not only be paid a Reward of Ten Pounds per cent, for the nominal value 
 of the Copper Coin so seized and melted, but shall be indemnified by the Committee against any 
 action that shall be brought against them for such Seizures. 
 
 4th. — That in future no Payments in Copper Coin from the Country be accepted. 
 
 WM. DARNELL, Chairman." 
 
[J9] 
 
 The Newcastle Chronicle for April 5th, 1783, contains the following 
 paragraph : — 
 
 " Last Saturday certain persons buying groceries, &c., in the retail shops, offered in payment small 
 quantities of counterfeit half-pennys of a New Coinage, unmixed with others, and better executed than 
 any counterfeits that have yet appeared here. The head side is George III., the other the crown and 
 harp, 1775 ; they are very thin and light, and (like most other counterfeits) are stained with a dark 
 colour, to disguise the complection of the base metal." 
 
 A meeting of the Committee was called in reference to the above, when 
 many of the old resolutions were revived with an addition, 
 
 "That a Petition of the Merchants, Manufacturers, and Traders, of this Town and County, to 
 Parliament, for such addition to or Amendment of the present Laws relating to Copper Coin, foif 
 the more effectual preventing the Coining, conveying, having in Custody, uttering, and circulating 
 Counterfeit Copper money, and for seizing the same and prosecuting the possessors of it, as to the 
 wisdom of Parliament shall seem meet, be forthwith prepared and laid before the Committee for their 
 approbation." 
 
 The question came up again in September, 1784. An advertisement 
 appeared quoting various sections of the Act against this offence, A reward of 
 £20 was offered for any evidence that would convict an offender, and a Caution 
 given that states : — 
 
 " All those evil-minded persons who for the sake of private Lucre buy, take, or receive this base Money 
 at an under rate value and put it off in payment for the full value, are involved in the same Guilt with 
 the Coiners and their accomplices the Vendors and Sellers, and may justly be considered as Aiders and 
 Abettors of the Coiners. They are as much accessories to the Coiners as the receivers of Stolen Goods 
 are Abettors to Thieves, for if Coiners and Thieves could not get their false money and Stolen Goods 
 disposed of, they would cease from coining and stealing. 
 
 Let all Ship-masters, Waggoners, and Carriers, be aware that they don't make themselves 
 Aiders and Abettors of the Coiners, and thereby subject themselves to the same Punishment as the 
 Coiners, by knowingly carrying their Counterfeit Money. . . . It is recommended to all labouring 
 Persons who have heretofore been usually paid their wages in Copper Coin, that they take no more at 
 one payment than five Pence three Farthings, and that only of good Mint Coin, and that they carefully 
 inspect the Half-pence they receive, and return all that are bad to the Payers, and if the Payers refuse 
 to pay them with legal Monies ; that they will then apply to a Magistrate for Redress." 
 
 On September ist, a Meeting of the Principal Merchants and Traders of 
 Newcastle and Gateshead was held at the Guildhall, when the Mayor was asked 
 " to communicate a request to all Coal Owners, Fitters, Glass Owners, Manufac- 
 turers, and others, that they will pay no larger quantities of copper coin to their 
 workmen, servants, and labourers, than shall be necessary for change, and that 
 only in real Mint Half-pennys." 
 
' [40] ^^__ 
 
 The Newcastle Chronicle of September 4th, announced : — 
 
 Newcastle, August 23rd, 1784. 
 
 " WE, the COMPANY of BUTCHERS of this Town being unable any longer to support the 
 intolerable Burthen and increasing Losses and Injuries, we have collectively and separately long 
 laboured under from the boundless growing Circulation of Counterfeit Half-pence, have this Day 
 assembled at our Meeting House, to consider of the best Means in our Power to stop so insupportable 
 a public Grievance. The greatest Part of the Money we have received for our Meat sold in the Market 
 for several years past, has been chiefly of base Counterfeit Copper Coin, not intrinsically worth half 
 its nominal value ; our Graziers, and those we buy Cattle of, will not receive such Money in Payment 
 from us, and even good Half-pence in any larger Quantities than the necessary Change : Under this 
 Oppression we cannot carry on our Business, and find ourselves reduced to the Necessity of resolving, 
 which we unanimously do, that we will not hereafter take in Payment any base or Counterfeit Half- 
 pence whatever, nor any more good Mint Half-pence at any one Payment, than shall be necessary for 
 Change, not exceeding Five-pence Three Farthings: And to prevent any Disappointments in the 
 Market, we authorize our Stewards to publish this our firm Resolution, under their Hands, both by 
 Hand-Bills, and in the Newcastle Newspapers, that all Persons concerned, may take Notice thereof, 
 particularly those who have heretofore made a Practice of paying their Keelmen, Pitmen, Glassmen, 
 Workmen and Labourers Wages, with Copper Money, and those who have usually, either brought 
 such Money to the Market themselves, or sent it by their Housekeepers, Servants, or others ; hoping 
 that they will in future bring or send ODly good Gold or Silver Coin to Market. 
 
 And we recommend it to all those Working and Labouring People, who have heretofore been 
 generally paid their Wages with Half-pence, to refuse such payments in future ; assuring them, that 
 no Person is by Law obliged to take more Copper Money at any one Payment than Five-pence three 
 Farthings, even of the real Mint Coin. 
 
 Signed by Order of the Company, 
 
 )B JOHNSON. ^ 
 
 Stewards." 
 
 JACOB JOHNSON, ^ 
 
 JOHN HUTCHINSON, 
 
 " WE, the COUNTRY BUTCHERS who attend Newcastle Market with Meat, having for a long Time 
 past been greatly injured and oppressed by the large increasing Circulation of COUNTERFEIT 
 COPPER COIN in that Town and Market ; and having seen a Resolution lately entered into by the 
 Company of FREE BUTCHERS there, for the purpose of stopping so intolerable a Grievance ; We do 
 most heartily approve of, and concur in the same, and hope they will persevere therein : And do 
 hereby resolve in Conjunction with them, that we will not hereafter take in Payment any BASE or 
 COUNTERFEIT HALF-PENCE whatever, nor more good Mint Half-pence in any one Payment 
 than what shall be necessary for change, not exceeding Five-pence Three Farthings : And we desire 
 this may be published along with the Company's Resolution. Given under our Hands this first day of 
 September, 1784. 
 
 John Fenwick, Francis Singleton, William Partis, Ra. Potts, jun. John Embleton, 
 
 William Cleugh, Thomas Potts, George Fenwick, Edw. Challoner, Tho. Embleton, 
 
 Jos. Forster, Archibald Dunn, George Wallis, Edw. Turner, John White, 
 
 James Forster, Ra. Potts, Robert Potts, John Challoner, Richard Swan." 
 
[4^ 
 
 A few days later the following hand-bills were issued : — 
 
 Newcastle, September nth, 1784. 
 
 MANY Persons in this Town being unable to distinguish the 
 MINT HALFPENNYS of the present King's Coin, from 
 some of the Counterfeits resembling them, have therefore without 
 Distinction refused to receive all Halfpennys bearing the impression 
 of King George the Third, and of Consequence to avoid the 
 Counterfeit Halfpennys, have refused many good Mint Halfpennys, 
 which ought to have been received as Change, or in Payments 
 under Sixpence : The Mayor, therefore, desires that the Merchants 
 and Traders of this Town will meet him in the Mayor's Chamber 
 in the Guildhall, on Monday next, at Eleven o'Clock, to consider 
 of the best Means to avoid Doubts and prevent Mistakes of this 
 sort. 
 
 NEWCASTLE-UPON-TYNE. 
 
 13th September, 1784. 
 A T a numerous and respectable Meeting of the MERCHANTS 
 ■^^ and TRADERS of this Town and County, held at the 
 Guildhall this day, to consider of the best Means to avoid Doubts 
 and prevent Mistakes, respecting the difficulty of distinguishing 
 the MINT HALFPENNYS of his present Majesty's Coin, from 
 some of the Counterfeit Halfpennys resembling them, 
 
 CHARLES ATKINSON, Esq., Mayor, in the Chair. 
 
 It is Resolved as followeth, viz. 
 
 I St. That no Halfpennys bearing the Impression of King 
 George the Third be received, even as Change, but only such as 
 the Receivers shall be clearly satisfied are pure good Copper, and 
 of the real Mint Coin. 
 
 2d. That old real Mint Halfpennys of the Coinage of former 
 Kings of this Realm be taken as Change. 
 
 3d. That the Resolution of the former Meeting, not to 
 receive a greater Quantity of Halfpennys at any one Payment, 
 than shall be necessary' for Change, and that only of real Mint 
 Coin, be strictly adhered to and persevered in. 
 
 4th. That the Representatives of this Town and County be 
 desired to apply to Parliament for a new Act to amend the Laws 
 now in being, respecting the Copper Coin of this Realm. 
 
 5th. That the Bankers of this Town be desired to procure 
 from the Mint, such Quantities of full Weight Half Guineas, and 
 Silver Coin, as shall be sufficient to answer the Purposes of Trade 
 in this Town, and to put the same in Circulation. 
 
[42j 
 
 The nuisance of surplus and spurious copper did not abate. The following 
 curious announcement appeared in the Newcastle Chronicle, October 2nd, 1784 :— 
 
 TO THE PUBLIC, 
 
 Respecting the Seizure of Halfpennys. 
 
 "BEING much overstocked with Halfpence, which has been the Case with me for Years past, 
 and which Inconvenience most People in the mercantile Line, especially in this Town, have been 
 subject to. In Consequence thereof, on the 3d and 11th September last, one Box containing 211. 15s. 
 and 12 Parcels containing 611. were by my Order forwarded to Glasgow per Hen. Howey's Waggon. 
 Said Box, and 6 of the Parcels were addressed to Mess. Corbett, Russel, and Co. the other 6 to Mess. 
 Christie and Smith, Merchants in Glasgow. This will appear by the following Letters, which were the 
 whole of our Correspondence on the Subject. However, in consequence of anonymous Letters sent per 
 Post, from Newcastle, the box of Halfpennys was seized by an Officer of Excise, at Glasgow, likewise 
 the 12 Parcels at Edinburgh. — After the candid Public have perused the said Letters of Correspondence, 
 the Affidavit sent to the Lord Provost of Edinburgh, and the anonymous Letters of Information, I 
 leave them to judge of the Equity and Fairness of the Transaction, and the malevolent Disposition of 
 the Informer or Informers. 
 
 If any Person or Persons will upon Oath, discover the Author or Authors of the said anonymous 
 Letters, so that he or they may be legally charged with the same, they shall be paid a reward of 
 
 Two Guineas. At the same Time I embrace the present Opportunity of returning my sincere Thanks 
 
 to my Friends and the Public for their many favors conferred upon me, and beg Leave to inform them, 
 that I have purchased at Glasgow, a large Quantity of Tobacco from the latest Imports, which I 
 purpose selling "Wholesale and Retail, on the very lowest Terms, and do solicit their future Commands, 
 which will be faithfully executed and gratefully acknowledged, by their most obedient and much 
 obliged humble Servant, JOHN JAMES. 
 
 Full copies of letters and affidavits are given but they are too long for 
 publication. Of the final resting-place of the copper there is no record. 
 
 Some enterprising tradesmen endeavoured to take advantage of the glut of 
 copper in the district. An advertisement of February 4th, 1786, reads : — " One half 
 taken in Copper. If of the present reign and full weight. Great Sale of Woollen 
 Goods in the Bigg Market, &c., &c. 
 
 N.B. — The proprietors will not take copper after the above period on any consideration whatever and 
 they presume one moment's reflection will convince any family in want of any article in the above 
 branches, they never will meet with so fair and eligible an opportunity of parting with halfpence as 
 that which now presents itself." 
 
 A few weeks afterwards we have an account from Newcastle of a man on 
 horse back riding up The Side with a sack slung in front, from a hole in which 
 half-pence were tumbling out. A by-stander picked some of them up and 
 shouted to the man to stop, others soon joined in the scramble, and in the shout, 
 but the louder they shouted the faster the horse galloped away. The mystery 
 was explained when the coins were examined— they were all bad. 
 
[43j ^ 
 
 Shortly afterwards the nuisance appears to have abated, but in 1796 it came 
 up again, and at a Meeting held on February i8th, the following gentlemen were 
 appointed a Committee to take the necessar}" steps to " more effectually put a 
 stop to this evil " : — 
 
 Charles Ogle, Esq. 
 
 Mr Nathaniel Clayton, 
 
 Mr John Green, 
 
 Mr William Wolf all, 
 
 Mr Malin Sorsbie, 
 
 Mr William Batson, 
 
 Mr John Russell, 
 Mr John Shield, 
 Mr George Ludlow, 
 Mr Anthony Easterby, 
 
 AND 
 
 Mr Solomon Hodgson. 
 
 Apparently the difficulty regarding the copper coinage was not confined to 
 this district. Miss Carter writing to Mrs. Montague at Denton Hall near 
 Newcastle on October nth, 1784, says : — 
 
 " I sympathise with you in the distress of the reprobation of your copper coin, the prohibition in 
 London is very whimsical ; sometimes a half-penny is as accurately examined as a guinea and at others 
 all kinds pass without difficulty." 
 
 The number of notes put into circulation by bankers recently established, and 
 the opening of the "Commercial Bank" January 24th, 1784, suggested the 
 production of a satirical note purporting to be issued by the " Scale-de-Cross Bank." 
 The six partners are strictly adhered to, all of them being " Knights of St. Crispin." 
 
 N'i 
 
 •44^ 
 
 ^// 
 
 ; 
 
 v> 
 
 
 (imojJcncc. 
 
 '^ 
 
 
 Mr. James Potts who was a clerk for some years in the Commercial Bank 
 says : — " Notes similar to the above were circulated in derision of the Commercial 
 
 Bank. They were the production of Mr. James Calton and and 
 
 afforded a good deal of amusement to the jokers of that day. I knew nothing 
 belonging this concern beyond common report." 
 
[44] 
 
 The notes evidently had a reputation beyond Newcastle, as the Ge^itleman's 
 Magazine has : — 
 
 " Died at Newcastle, February, 1791, in an advanced age, James Duncan, cobbler, better known by the 
 appellation of Sir James Duncan, principal proprietor of the Scale-de-Cross Bank, the two-penny notes 
 of which have had a wide circulation for some years past." 
 
 Probably the notes were sold, and the proceeds given to charitable objects, as 
 we read — " A few weeks after the establishment of this bank the proprietors gave 
 two guineas to the Newcastle Dispensary and one guinea to the Lying-in-Hospital." 
 
 " On Jan. 17, 1787, at the sessions in Newcastle, Hugh Peel, horse dealer, was convicted of a fraudulent 
 deceit, in putting off a Scale-de-Cross note of no value, as and for a Newcastle bank note of the value 
 of £5, to an unlettered person in part payment of the price of a mare, which Peel had bought of the 
 said person, for which Peel was sentenced to 12 months imprisonment." 
 
 The use of the cheque for remittance by post would be very slight. Post 
 Office Orders were not invented, but to help and instruct those who had money 
 to remit, a notice was issued from the General Post Office, that drafts or notes if 
 sent by post should be cut in the manner indicated. 
 
 No 
 
 . io8. 
 
 
 Bank off 
 
 
 
 No. io8. 
 
 1>N 
 
 1 
 
 ' protnise 
 
 to pay to/ John 
 
 
 
 or bearer 
 
 
 on 
 
 Demand 
 
 the siimlnf Ten Pounds. 
 
 
 
 
 £io 
 
 
 Loii\don g 
 
 day of Feb. 
 
 , 1782. 
 
 
 Entd. 
 
 Thos. Sykes \For 
 
 the Gov. 
 
 & C.B.ofE. 
 
 N.B.— " The note is to be cut exactly where marked with a black lino, first writing the date and year 
 at one end of the note and the number at the other end, by which means each part will contain a 
 sufficient specification of the whole." 
 
 During the period under consideration, one event happened in the metropohs 
 that cannot be passed over, as the Bank of England narrowly escaped looting. 
 On June 2nd, 1780, commenced the Lord George Gordon riots. For a few 
 days London was in the hands of the mob, Newgate was attacked and the 
 prisoners liberated, utter consternation prevailed, and business was brought to a 
 standstill. At night the city was illumined by the light of over thirty fires. The 
 houses of the nobility and gentry were demolished, and the Bank of England 
 hourly expected an attack. " The old inkstands were cut into bullets, a strong 
 force was placed within, while the mihtar)-' awaited their arrival without the walls. 
 The officers of the establishment were called upon to assist, and another force 
 was placed on the roof to fire upon the assailants if they entered. Every possible 
 arrangement was made for the defence of a building far more important to the 
 credit of the country than any in the capital." Fortunately the spirited resistance 
 
[4^^ 
 
 instituted by the authorities saved the bank, and the country from a general panic. 
 The danger that the estabhshment was placed in led the directors to arrange 
 that in future a militar}^ force should nightly be in attendance at the bank. 
 
 About this time an advertisement appeared in a Newcastle paper that shows 
 the condition of the note circulation in the North Riding of Yorkshire. 
 
 Newcastle Chronicle, March i6th, 1782 : 
 
 " Cleveland, Yobks, February 15th, 1782. 
 " Whereas many Inconveniences have been experienced in this Neighbourhood by the great Increase 
 of Five Pounds and Five Guinea Notes, made payable in London only, or otherwise by Drawers of 
 such Notes themselves, at his and their usual Place of Residence only ; and which it is apprehended in 
 some Measure contributes to lessen the Circulation of Cash in the Country, to the great Prejudice of 
 the Community in general ; and many Persons having expressed their earnest Wishes to prevent as 
 far as may be in their Power, the Circulation of all such Notes, but what are made payable as 
 well by the Drawers of such Notes themselves, at his or their usual Place of Residence, as in London ; 
 and as the most likely Means of doing so, have thought proper to enter into an Agreement, engaging 
 themselves not to accept any such Notes in Payment, (save such as are made payable as aforesaid, 
 from and after the 1st Day of May next) ; and have also thought proper to give this public Notice, 
 that Duplicates of such Agreement already signed by several respectable persons, are now left in the 
 Hands of Mr. Harrison in Guisborough and Mr. Preston in Stokesley, where all Persons who have not 
 already signed the same and are desirous to promote the said Plan, may have an opportunity of signing 
 such Agreement." 
 
 This announcement evidently refers to the use of " optional " notes upon 
 which we remark in the next chapter. 
 
 The following extracts from a York paper illustrate the mode of travelling and 
 the dangers of the roads at this period : — 
 
 " 1782, Aug. 10. — An attack on one of the York diligences was perpetrated on Pinchley Common 
 about dusk. The villains robbed the coach and passengers of everything valuable. They had two 
 carts at hand in which they deliberately deposited the stolen property and weut oft unmolested." 
 
 " 1790, Fob 1. — The York and Newcastle coach with a guard all the way and carrying five inside 
 passengers, sets out from York Tavern, the George, and the Black Swan luns alternately every morning 
 at 6 o'clock. This coach meets at the above places the Highflyer and Paul Jones post coaches, carrying 
 six inside passengers with a guard all the way and sets out from York every morning at 5 o'clock for 
 London. Fares, Newcastle to York, inside £1 4s., outside 12s ; York to London, inside £2 10s., outside 
 £1 53." 
 
 Fortunately there is no special commercial panic to record during this time, 
 but the calm was only a prelude to the storm. 
 
[46] 
 
 CHAPTER VI. 
 
 PROVINCIAL BANKING— 1790 to 1800. 
 
 England at peace — New banks open — " Optional " Notes — War with France — Panic 
 in London — It spreads to the provinces — Difficulty of obtaining specie — 
 Newcastle banks suspend payment — Meetings held in their support in the 
 principal towns in the north — Guarantee Fund started — Panic said to have 
 originated in Newcastle — Statement shown to be incorrect — Mr. Bagshot's theory 
 confirmed — Notes displace gold — Private estates of bankers liable for trade 
 debts — Commercial Bank winds up — Forged French assignats — Harriet 
 Martineau— Her connection with Newcastle — Pitt and the Bank of England — 
 Fear of French invasion — Government orders returns of farm implements, etc. — 
 Panic amongst the farmers — Run on Newcastle banks — They suspend — 
 Meetings in their support — Letter from Charnley — Difficulties of the Bank of 
 England — Cash payments prohibited — City merchants support Bank — Issue of 
 £1 and £2 notes — Great fall in stocks. 
 
 DURING the early part of the decade that this chapter reviews, England was 
 at peace after a long and costly war. Commerce revived, and numerous 
 provincial bankers sprang into existence, who freely discounted the bills 
 of necessitous traders, giving in exchange the paper of the newly formed establish- 
 ments, and by that means greatly increased the note issue of the country. 
 
 The bankers that commenced business in this district from 1790 to the close of 
 the century, were Messrs. Batson, Wakefield, and Scott, at Newcastle, Berwick, 
 North Shields, and Morpeth ; Russell, Allan, Maling, and Wade, at Sunderland ; 
 Mills, Hopper, & Co., and William Shields, at Durham ; Sir John Lawson, at 
 Richmond ; Peirse, Consett, Topham, and Walton, at Northallerton ; Fenton, 
 Scott, & Co., at Thirsk ; Hayes, Leatham, & Co., and Sir Christopher Sykes, at 
 Malton ; Simpson, Sanderson, and Taylorson, at Stokesley ; Pease & Co., and 
 Campion & Co., at Whitby. 
 
 We are told that about this time, country bankers commenced inserting an 
 "optional" clause into their notes, which gave the holder the choice of payment, 
 either at the place of issue, or in London, and that so general had the custom 
 
[47] 
 
 become, that 204 out of 279 country banks adopted the clause. The accompanying 
 illustration is a rare example of the optional note. 
 
 :-.. \y 
 
 'rs^..i::'ML 
 
 
 ^ 
 
 % 
 
 \ 
 
 
 >v 
 
 
 
 
 ^ 
 
 '^'/ 
 
 
 </ 1 / ^'^ 
 
 In 1792, these country notes came upon the London shopkeepers in such 
 numbers that they grew alarmed, discredit of the notes of the provincial banker 
 commenced, and discredit once set in was as uncontrollable as the rising tide. 
 Holders of the notes could not dispose of them, so naturally took the readiest 
 means to convert them into coin, the stock of which soon became low in the 
 metropolis, and almost exhausted in the countr}\ These circumstances appear to 
 have given rise to the production of a derisive note, a copy of which is here 
 produced. 
 
 TN ''~N 
 
 / jf nil jUcon .M.sc-v.v ciiARTA )b,\nl: 
 
 
 ) A 
 
 /■/■ 
 
 /^ ///'///'/// 
 
 L__ 
 
___^ U8]_ 
 
 In the early part of 1793 great uneasiness prevailed in London. On February 
 19th the Bank of England refused the paper of Lane, Son, and Fraser, who the 
 next day failed for a million. This event, with other causes, led to a panic in 
 the City, which in time spread to the provinces. 
 
 We learn by an interesting letter written from Newcastle, March 20th, 1793, 
 by one of the firm to the senior partner of Lambton & Co., that things in the 
 North up to that time were quiet. He says : — " Notwithstanding some convulsions 
 amongst the bankers in different Parts of the Kingdom, we remain quiet and 
 undisturbed here." Ere the month closed, we find a very different state of things. 
 A general panic was raging in London, many bankers failed, some of whom 
 acted for their northern brethren. Fresh London agents had to be appointed, 
 and duly advertised in the local papers. This helped to spread alann. Every 
 holder of a note was anxious to convert it into gold. Scores of country bankers 
 were in London, trying, by any means, to gather the precious metal, with which 
 when obtained, they instantly posted home, disregarding the perils of robbery on 
 the road. The very bank that reported all "quiet and undisturbed" on the 20th had 
 before the close of the month first a clerk and then two partners in London seeking 
 gold ; a supply of which they obtained, and carried north with all speed. Mr. Row- 
 land Burdon, partner in the Exchange Bank, Newcastle, was in the metropolis upon 
 the same mission. On the return journey, his post chaise was stopped by footpads, 
 who pinioned the banker and rifled his pockets. The bullion fortunately escaped 
 their notice. In Newcastle, things had grown desperate. From Monday, April ist, 
 to Saturday, the 6th, all the banks had been sorely pressed, but had stood their 
 ground. Then the proprietors of the " Commercial " felt that they could hold 
 out no longer. On Monday morning, April 8th, they issued a notice stating that 
 they must for a short time suspend their payments. They comforted their friends 
 with the assurance that they could show a clear surplus of ;^25,ooo. 
 
 On the same day a public meeting was held, of which the following is 
 the report : — 
 
 "At a very numerous Meeting of the Gentlemen, Merchants, and Inhabitants of this town and 
 neighbourhood, held at the Merchants' Court, this Eighth day of April, 1793, to take into consideration 
 the Propriety of giving at this juncture every possible Support to public Credit, and to the Commercial 
 Engagements of this part of the Country, James Rudman, Esq., Mayor, in the Chair. Eesolved 
 unanimously : — That the Banks of Ridley, Cookson, and Company ; Surtees, Burdon, and Company ; 
 Baker, Hedley, and Company; and Lambton and Company; of this Town, are Banks of 
 unquestionable Credit, and are entitled to the Confidence of the Public in the fullest Extent. Resolved 
 unanimously : — That we in our several Capacities will, as usual, accept in payment the Notes issued 
 by any of the above-mentioned Banks, and will do our utmost Endeavours to induce others to do the 
 same. Resolved unanimously : — That a Committee of Sixteen Gentlemen be appointed to communicate 
 these Resolutions to the Gentlemen, Merchants, and Inhabitants of the neighbouring Counties and to 
 
[49] 
 
 the Public at Large ; and that these Resolutions be signed by all present, and by all others who shall 
 approve the same, and that Mr. Mayor, Mr. Alderman Blackett, Mr. Alderman Cramlington, Mr. Gray, 
 Mr. Reay, Mr. Graham Clarke, Mr, Emerson Headlam, Mr. Walter Hall, Mr. Hood, Mr. Brown, 
 Mr. Hopper, Mr. Davidson, Mr. Pearson, Mr. Ward, Mr. Clayton, and Mr. Heron, be such Committee." 
 "These Resolutions were signed by the several Gentlemen, whose Names are subscribed, and the 
 same will remain for further signature at the Town Clerk's Office." 
 
 Jas. Rudman, Mayor 
 
 J. Eras. Blackett 
 
 Ra. Wm. Grey 
 
 Chas. Atkinson 
 
 Wm. Yielder 
 
 Fras. Johnson 
 
 Wm. Cramlington 
 
 Jno. Graham Clarke 
 
 Matt. Pringle, Sheriff 
 
 Henry Utrick Reay 
 
 Wm. Surtees 
 
 Robert Pearson 
 
 Wm. Darnell 
 
 Hopper and Monk- 
 house 
 
 Richard Lambert 
 
 Nath. Clayton, Town 
 Clerk of Newcastle 
 
 Wm. Adair 
 
 Chas. Ogle, Collector 
 of his Majesty's 
 Customs 
 
 Henry Moorhouse 
 
 Robt. Clayton 
 
 Chr. Blackett, Treas- 
 urer of the County 
 of Northumberland 
 
 Blackett and Dixon 
 
 Thos. Harvey 
 
 Thos. Robinson 
 
 Robt. Greenwell 
 
 Henry Mewburn 
 
 John and Robert Chap- 
 man 
 
 John Stoddart 
 
 Robert Rayne 
 
 Geo. Henderson 
 
 Jno. Hawks 
 
 Wm. Richardson 
 
 Gregory and Crawford 
 
 Errington and Ward 
 
 James Row 
 
 Peter Paxton 
 
 Joseph Hogg 
 
 Edward Brown 
 
 G. Parker 
 
 Wm. Halliday 
 
 Thos. Davidson 
 
 Geo. Brumell 
 
 L. and M. Atkinson, 
 Brothers 
 
 Jas. Atkinson 
 
 Geo. Burdon 
 
 Doubleday and East- 
 erby 
 
 Wm. Row 
 
 Richd. Keenlyside 
 
 Walter Hall and Co. 
 
 Jos. Pollard 
 
 Stephen Humble 
 
 Geo. Liddell 
 
 Alex. Chatto 
 
 John Davidson, Clerk 
 of the Peace for the 
 County of North- 
 umberland 
 
 John Haigh 
 
 Michael and W. R. 
 Callender 
 
 Wm. Hawkes 
 
 Shaftoe Robert Coul- 
 ter 
 
 John Robinson 
 
 Thos. Taylor & Co. 
 
 David Orr 
 
 Pickering and Fish 
 
 Robert Lisle 
 
 James Jno. Davis 
 
 Nichs. Andrews 
 
 Henry Shadf orth, Jun. 
 
 Robert Walters 
 
 M. Morrison 
 
 George Brown 
 
 Dixon and Straker 
 
 John and Thos. 
 Featherston 
 
 Samuel Lawton 
 
 Joseph Snowball 
 
 Barker and Wolfall 
 
 St. Pemberton 
 
 Tallentire and Liddell 
 
 Rudman and Hall 
 
 W. and H. Cramling- 
 ton 
 
 For Northumberland 
 Glass Co., John 
 Graham Clarke 
 
 T. E. Headlam 
 
 Matthew Hedley 
 
 Ralph Heron 
 
 John Hedley and Son 
 
 John Humble 
 
 John Summers 
 
 Airey and Gibson 
 
 Jasper Browell 
 
 RatclifE Manchester 
 
 Joseph Watson 
 
 William Brown 
 
 Henry Jos. Hounsom 
 
 Anth. Hood 
 
 Edw. Wilson 
 
 David Stephenson 
 
 John Marley 
 
 Shall et Dale 
 
 For James Moncas-\ 
 ter, Esq., Walls-' 
 end, Shallet Dale, f 
 
 
 Wine Mercht 
 John Roddam 
 John Unthank 
 John Errington 
 William Ingham 
 Mosley and Airey 
 
 On Tuesday morning, April 9th, the banks were compelled to issue a joint 
 notice as follows : — 
 
 Messrs. RIDLEY, COOKSON, and COMPANY, 
 
 SURTEES, BURDON, and COMPANY, 
 
 BAKER, HEDLEY, and COMPANY, 
 
 R. J. LAMBTON and COMPANY, 
 
 PJ^INDING that notwithstanding the liberal Offer of Support, 
 
 made at the Meeting yesterday, the public Alarm still 
 
[^oj 
 
 continues to Occasion such considerable and unusual Demands for 
 Gold, that those Funds, which, a few days ago, were greatly- 
 superior to every probable Exigency, are now found not adequate 
 to the present immediate Circumstances of the Country, think it 
 their duty to request the indulgence of the Public for a short 
 Interval, for the purpose of supplying themselves with such 
 additional Funds, as the present extraordinary Demands make 
 necessary. 
 
 A public meeting was held the next day, Wednesday, April loth, when the 
 committee handed in their report and proposals : — 
 
 Newcastle-upon-Tyne, 10th April, 1793. 
 
 " A T a very numerous MEETING of the GENTLEMEN, MERCHANTS, TRADESMEN, and 
 
 INHABITANTS of Newcastle-upon-Tyne, held on Tuesday, the 9th Day of April inst. 
 
 JAMES RUDMAN, Esq., Mayor, in the Chair, 
 
 It was RESOLVED— THAT a COMMITTEE, to consist of Fifteen Gentlemen present, be 
 appointed to deliberate on the best Means of restoring the Public Credit at this Juncture, and that 
 they report thereon to a General Meeting, to be held To-morrow Morning at Ten o'Clock : 
 
 AND that the following Gentlemen constitute that Committee : The Mayor, Mr. Bigge, Mr. Reay, 
 Mr. Graham Clarke, Mr. Walter Hall, Mr. Malin Sorsbie, Mr. Darnell, Mr. Heron, Dr. Pemberton, 
 Mr. Adams, Mr. Alderman Blackett, Mr. Hood, Mr. Headlam, Mr. Lawton, Mr. N. Clayton. 
 
 THE Committee accordingly met, and after possessing themselves of every necessary Information, 
 and deliberating thereon, unanimously agreed upon the following Report, which they this Day 
 presented to a most numerous and respectable Meeting, and which was instantly adopted without a 
 dissenting Voice. And the Committee were desired to continue their Exertions, till the full effect of 
 the Plan recommended in their Report, shall be obtained. 
 
 The REPORT of the COMMITTEE. 
 
 WE, your Committee, proceed, with satisfaction, to report what we have done in the execution of 
 the important duty committed to us, because we have found in the Funds of the respective Banks of 
 Ridley, Cookson, and Co. — Surtees, Burdon, and Co, — Baker, Hedley, and Co. — and Lambton and Co. 
 a stability beyond our most sanguine expectations. 
 
 These Funds appeared so substantial, and so effective, that we found much difficulty in prevailing 
 upon ourselves to accept the offer of those Gentlemen, to pledge specifically their respective private, 
 real and personal Estates, for the fulfilment of their Banking Engagements. But the offer was made 
 with so much earnestness, that we have incorporated that measure into the plan we have to submit to 
 your consideration. 
 
 Our inquiries were directed to the ascertaining with precision, the amount of the paper issued by 
 these Banks, and now in circulation ; and we learnt, that it did not exceed in the whole, TWO 
 HUNDRED and THIRTY THOUSAND POUNDS, a sum which bears a small proportion to the 
 amount of their Funds. Adverting to their private fortunes, we found in them, a security almost 
 without limit. 
 
^5^1 
 
 In such circumstances, we deem the plan about to be proposed necessary, only because, at such a 
 juncture as the present, nothing ought to be omitted that may remove from the most distrustful, every 
 particle of doubt and suspicion. 
 
 With this view we suggest the propriety of all, who are any way connected with the landed or 
 Commercial interests of this town, and the adjoining counties, entering into a guarantee for the 
 space of twelve months, securing to the holders of the notes of these Banks, the full sums due upon 
 them. It is our idea that every gentleman should name the sum for which he will be answerable, and 
 that proper persons should be authorised to call for the sums subscribed, or any part of them, if ever 
 they should be necessary to aid the funds of the Banks, which we confess, to us appears hardly possible. 
 We have explained this branch of our plan, by preparing a subscription paper, signing it, and by 
 adding, opposite to our names, the simis we are ready to advance if called upon. It is intended that 
 this subscription shall be kept open until it amounts to £230,000 at least, the value of the notes in 
 circulation ; and that the gentlemen, to whom this authority is committed, shall be of the highest 
 respectability ; and to them shall be given by the Bankers that pledge of their private fortunes, which 
 they so honorably propose. 
 
 We wish to recommend to these gentlemen not to resume their business till some day in the 
 ensuing week, by which time it is evident to us, that they will be fully enabled to answer every possible 
 demand, and in the mean time to issue such cash as may be necessary to answer the demands of all 
 who are employed in the Coal-works and Manufactories. 
 
 The Proprietors of the Commercial Bank having stated to the public meeting yesterday, that it 
 was not their intention to continue Bankers ; and having given the strongest assurances of their ability 
 to answer every demand upon them, we did not think it necessary to examine particularly the state 
 of their debts and credits ; but we wish to recommend it strongly to the other Bankers, that as soon as 
 possible, every proper aid be given to that house, to enable them to liquidate their affairs with the 
 utmost dispatch. 
 
 We cannot conclude this report without expressing ourselves highly satisfied with the conduct of 
 the Gentlemen of the four Banks who gave us a meeting, and who with that openness and liberality 
 becoming men conscious of their integrity, afforded us the fullest information concerning their circum- 
 stances and treuisactions. 
 
 JAMES RUDMAN, Chaibman. WALTER HALL. NATH. CLAYTON. 
 
 THO. CHA. BIGGE. T. E. HEADLAM. RALPH HERON. 
 
 HENRY U. REAY. WM. DARNELL. MALIN SORSBIE. 
 
 JOHN GRAHAM CLARKE. ST. PEMBERTON. ANTH. HOOD. 
 
 A. ADAMS. SAM. LAWTON. JOHN E. BLACKETT. 
 
 IN Consequence of this, the following Guarantee was immediately entered into by the Gentlemen 
 whose Names are subscribed, with the Simas respectively opposite to them. 
 
 10th APRIL, 1793. 
 We, the undersigned, do hereby promise to pay to James Rudman, Esq., Mayor of Newcastle-upon- 
 Tyne ; Henry CoUingwood, Esq., High Sheriff of the County of Northumberland ; and Sir Hedworth 
 Williamson, Baronet, High Sheriff of the County of Durham, or their Order, on their Demand, the 
 several sums set opposite to our respective Names, for the purpose expressed in the Report of the 
 Committee, appointed to deliberate upon the best means of restoring the public credit at this juncture, 
 by a General Meeting of the Gentlemen, Merchants, Tradesmen, and Inhabitants of Newcastle-upon- 
 Tyne, and its Neighbourhood, held the ninth Instant, and which Report bears date this day. 
 
lS2j 
 
 It bears 148 signatures. The sums named vary from ^20,000 to :^5oo. 
 ;^6o,5oo was subscribed from North Shields, which, added to the Newcastle list, 
 made a total of ;^320,200. A foot-note says : — " The engagement remains at the 
 office of the Town Clerk for the subscriptions of friends to the measure." South 
 Shields was also loyal to the banks, and sent a subscription list, headed, 
 
 " We, the under-signed, do fully approve of the measures adopted and entered into at Newcastle- 
 upon-Tyne in support of the banks of Messrs. Eidley, Cookson, & Co. ; Surtees, Burdon, & Co. ; 
 Baker, Hedley, & Co. ; and Lambton & Co., and for that purpose we subscribe the several sums opposite 
 our respective names. South Shields, April 11th, 1793." 
 
 S. Temple, jun., R. Bulmer & Co., and Wm. Wallis are each down for 
 ;^3,ooo. The total amount raised at South Shields was ^30,500. Thirty names 
 are attached. 
 
 Another important gathering was held on April the loth, at Newcastle-upon- 
 Tyne : — 
 
 " At a meeting held this day of the wholesale tradesmen of this town and Gateshead, the 
 following declaration was unanimously agreed to : — We whose names are hereunto subscribed, being 
 fully assured that the funds of all the banks in Newcastle are more than adequate to pay every demand 
 upon them, think it necessary to inform our customers in all parts of the country that we continue to 
 take the notes of the undermentioned banks in payment, viz. — Sir M. W. Eidley & Co. ; Surtees, 
 Burdon, & Co. ; Baker, Hedley, & Co. ; Lambton & Co. The proprietors of the Commercial Bank 
 having determined not to re-commence the banking business, their notes cannot at present be taken ; 
 but we have the strongest assurance that as soon as the affairs of that bank can be wound up, the 
 notes will be paid in full. — Anthony Easteeby, Chairman." 
 
 The document bears 74 signatures. 
 
 The excitement of the times was not confined to Newcastle. At Sunderland, 
 on April loth, a large meeting was held "at the house of Mrs. Reay, it was 
 unanimously agreed to take in payment, as usual, the bank notes of Messrs. 
 Russell, Allan, and Wade ; and we do hereby agree to indemnify the public for the 
 amount of any Sunderland bank notes they may hold." One hundred and eighteen 
 signatures are recorded. From these accounts it would appear that Sunderland had 
 only one bank at this time, and that North and South Shields were dependent 
 upon Newcastle for their banking accommodation. 
 
 At Durham the excitement was evidently great. A meeting was held on the 
 loth of April, when steps were taken to sustain the credit of the Durham Bank, 
 (Messrs. Mills, Hopper, Pearson, and Chipchase.) A Committee of seventeen 
 Gentlemen was appointed and various resolutions passed. The Committee met on 
 the following day and appointed from their number a Select Committee to examine 
 the statement of the funds and affairs of the bank. At a meeting held in the Town 
 Hall on April nth, the Select Committee handed in a most favourable report. 
 
• [53} 
 
 Seven names are attached to the document, one of the signatures being that /of 
 Wilham Hoar, who for some time was a silent partner in Messrs. Lambton's Bank. 
 
 Another announcement says : — 
 
 " At a meeting of the Noblemen and Gentlemen of the Counties of Northumberland and Durham, 
 held at the St. Alban's Tavern in St. Alban's Street (London) on Monday, the 15th day of April, 1793, 
 to consider of the means of supporting the Banks of Newcastle-upon-Tyne. Present — Henry 
 CoUingwood Esq., the High SherifE of Northimiberland, in the Chair; Duke of Portland, Earl of 
 Carlisle, Earl of Jersey, Earl of Scarborough, Earl of Tankerville, Earl of Strathmore, Lord Delaval, 
 Sir Wm. Middleton, Sir John Eden, Sir T. RiddeU, Six Wm. Scott, Solicitor General ; Mr. Sergeant 
 Clayton (who was previously a partner in Messrs. Masters & Co., Bankers, London, and often referred 
 to in the formation of Messrs. Davison-Bland & Co.), and twenty-eight County Gentlemen." 
 
 •' The following Resolutions were moved by Lord Delaval, seconded by Sir Wm. Middleton, and 
 unanimously adopted. ' Intelligence having been received since the High Sheriff of Northumberland 
 summoned this Meeting, that vigorous measures have been taken in Newcastle for supporting the 
 Credit of the four Banks of Ridley & Co., Surtees, Burdon, & Co., Baker & Co., and Lambton & Co., 
 and there being strong Grounds for hoping that such Measures will have the desired Effect, Resolved — 
 That this Meeting return their thanks to the Mayor of Newcastle, and the Gentlemen, Merchants, and 
 others who have exerted themselves with so much public spirit, and will, on their Parts, use their best 
 Endeavours to give Effect to the Measures adopted at Newcastle, and particularly will direct their 
 respective Agents to assist the Credit of the four Banks, by receiving their Notes in Payment as 
 usual.' " A Committee was appointed consisting of Lord Delaval, Sir Wm. Middleton, Messrs. H. 
 Lambton, Charles Brandling, and Nicholas Ridley, to confer with and assist the Newcastle Committee. 
 
 Though rather late in the day, even Wooler held a meeting on April 1 8th, Sir 
 Francis Blake, Bart., in the chair. A resolution was passed pledging those who 
 signed the declaration to take the notes of the four Newcastle banks, also of 
 Messrs. Surtees, Burdon, Embleton, & Co., Berwick-upon-Tweed, and Messrs. Mills, 
 Hopper, & Co., of Durham. The signatures of sixty-nine gentlemen are given. 
 
 The various meetings and resolutions had the effect of restoring confidence, 
 the banks in the meantime having secured a fair amount of coin. On April i8th 
 the Newcastle firms announce that " having by the Direction of the Committee, 
 deferred the Re-commencement of their Payments till Saturday the 20th inst., 
 they respectfully inform the Public that Business will be transacted as usual at their 
 respective Banks on that Day." True to their promise, the banks duly opened on 
 the Saturday, and business was resumed as usual. It may now be somewhat 
 amusing to contemplate the stoppage of all the banks in an important town from 
 Monday, the 8th of April, until Saturday, the 20th, yet such was the state of 
 things just a century back.* 
 
 * Referring to matters about the end of the last century a correspondent says:— "The coach charge (for 
 carrying specie) was Id. for 20/-, but there is some question of Insurance also. The waggon seems to be 7/6 per 
 jEIOO. Insurance from Calcutta to London j£26 5s. per XlOO, the same to Copenhagen. I have a Bill from 
 Calcutta 365 days after sight, the ship would be 5 or 6 months on the voyage, so this would be a slow process 
 for sending money." The cost of the carriage of silver from London to Dundee was about £2 5s. per cent. 
 
[J^ '__ 
 
 Although the banks had resumed their payments, the committee advertised 
 from week to week the particulars of the further support that they received. On 
 April 27th, they stated that the sum guaranteed was Four hundred and ninety- 
 eight thousand six hundred pounds. 
 
 In the "Theory and Practice of Banking," Mr. H. D. Macleod in writing 
 upon the panic of 1793, adopts the statements made by Lawson in his " History of 
 Banking," p. 268, regarding the Newcastle bankers, and further states that the 
 panic began in Newcastle. This I think can be shown to be incorrect. Mr. 
 Macleod says :— 
 
 " The declaration of war, though it must evidently have been foreseen, gave a shock to credit, which 
 was already staggering. On the 15th February, a house of considerable magnitude, deep in corn 
 speculations, failed, and on the 19th, the Bank refused the paper of Lane, Son, and Fraser, who stopped 
 next morning to the amount of nearly one million, involving a great number of other respectable houses. 
 In the meantime, the panic spread to the bankers. It began in Newcastle. The partners in the banks 
 at Newcastle were opulent, but their private fortunes were locked up. They issued notes which allowed 
 interest to commence at some months after date, and then they were payable on demand ; when the 
 run came they were unable to realise, and stopped payment." 
 
 A perusal of the present chapter, and a reference to the letters quoted in the 
 account of Messrs. Lambton's bank will show most clearly that the panic did not 
 begin at Newcastle, and that for six weeks after the failure of Lane, Son, and 
 Fraser on February 19th, the Newcastle Banks were conducting their business 
 as usual. 
 
 On March 9th, Lambton & Co. ordered the purchase of ;^ 10,000 Consols, as 
 they had " a considerable balance " in the hands of their London agents, and one 
 of the partners remarking upon the satisfactory state of the bank says : — " We 
 have also steered clear of any losses by the late Failures amongst the West India 
 Houses in London." 
 
 The letter from the firm to Mr. Lambton on March 20th, in which the writer 
 says that "we remain quiet and undisturbed here" of course refers to all the banks 
 in the locality, as he afterwards proceeds to show the exceptionally sound position 
 of their own establishment. It was not till the end of the month that any urgent 
 need of gold was felt, and all the banks kept open until April 8th, fully six weeks 
 after London was first affected. Mr. Macleod also repeats Lawson's statement 
 that the Newcastle banks "issued notes which allowed interest to commence 
 some months after date." I have not met with any confirmation of this statement. 
 Some of the Durham and North Yorkshire bankers had an optional clause, as will 
 be seen on the ^5 5s. Note of Messrs. Backhouse & Co., dated 1779, where they 
 undertake to pay upon demand at Darlington, or twenty-one days after sight at 
 Messrs. Smith, Wright, & Gray's, London ; but I do not know of any Northumbrian 
 
^ [^5j 
 
 note that gave such an option. It happened in several cases that after a bank had 
 suspended, the notes were subsequently paid with interest from a given date. 
 These are the only interest notes that I have met with. 
 
 There can be no doubt that nearly all the local banks were sound, and the 
 difficulty of obtaining specie was the only cause of their stoppage. Their 
 geographical position enhanced this difficulty. When panic arose, there was only 
 a given quantity of gold in the country ; — "first come first serv^ed " was the order of 
 the day, so that naturally the banks farthest from the depot of bullion were likely 
 to come off the worst. On the other hand, Mr. Walter Bagehot in his able work, 
 "Lombard Street," points out that 
 
 "ultimate payment is nob what the creditors of a bank want; they want present, not postponed, 
 payment, they want to be repaid according to agreement ; the contract was that they should be paid 
 on demand, and if they are not paid on demand they may be ruined." 
 
 The publicity given to the bankers' accounts during the panic of 1793 enables 
 us to get some slight knowledge of the note issue of that period, and although the 
 statement is very incomplete, I deem it worthy of record, as deductions may be 
 drawn from it that will probably be of future use. I am especially led to do this 
 from some observ^ations made by Mr. Bagehot. He describes the manner in which 
 banks of issue grew to be banks of deposit, and remarks that complete accounts of 
 the country banks of the last century are wanting. After enumerating the various 
 functions of the early banks, he says : — " These are all uses other than those of 
 deposit banking which banks supplied that afterwards became in our English sense 
 deposit banks. By supplying these uses, they gained the credit that afterwards 
 enabled them to gain a living as deposit banks. Being trusted for one purpose, 
 they came to be trusted for a purpose quite different, ultimately far more important, 
 though at first less keenly pressing. But these wants only affect a few persons, 
 and therefore bring the bank under the notice of a few only. The real introductory 
 function which deposit banks at first perform is much more popular, and it is only 
 when they can perform this more popular kind of business that deposit banking 
 ever spreads quickly and extensively. This function is the supply of the paper 
 circulation to the country, and it will be observed that I am not about to overstep 
 my limits and discuss this as a question of currency. In what form the best 
 paper currency can be supplied to a country is a question of economical 
 theory with which I do not meddle here. I am only narrating unquestionable 
 history, not dealing with an argument where every step is disputed. And 
 part of this certain history is that the best way to diffuse banking in a community 
 is to allow the banker to issue bank notes of small amount that can supersede the 
 metallic currency. This amoimts to a subsidy to each banker to enable him to 
 
[56] 
 
 keep open a bank till depositors choose to come to it. The country where deposit 
 banking is most diffused is Scotland, and there the original profits were entirely 
 derived from the circulation. The note issue is now a most trifling part of the 
 liabilities of the Scotch banks, but it was once their mainstay and source of profit. 
 A curious book, lately published, has enabled us to follow the course of this in 
 detail. The Bank of Dundee, now amalgamated with the Royal Bank of Scotland, 
 was founded in 1763, and had become before its amalgamation, eight or nine years 
 since, a bank of considerable deposits. But for twenty-five years from its 
 foundation it had no deposits at all. It subsisted mostly on its note issue, and a 
 little on its remittance business. Only in 1792, after nearly thirty years, it began 
 to gain deposits, but from that time they augmented very rapidly. The banking 
 history of England has been the same, though we have no country bank accounts 
 in detail which go back so far." 
 
 The statement of the Bank of Dundee was the following : — 
 
 Statement op Cibculation and Deposits op the Bank op Dundee at 
 
 Inteevals op Ten Yeaes between 1764 and 1864. 
 Year. Circulation. Deposits. 
 
 1764 .. .. .. 30,395 
 
 1774 
 
 
 
 27,670 
 
 
 
 — 
 
 1784 
 
 
 
 56,342 
 
 
 
 — 
 
 1794 
 
 
 
 50,254 
 
 
 
 48,809* 
 
 1804 
 
 
 
 54,096 
 
 
 
 157,821 
 
 1814 
 
 
 
 46,627 
 
 
 
 445,066 
 
 1824 
 
 
 
 29,675 
 
 
 
 343,948 
 
 1834 
 
 
 
 26,467 
 
 
 
 563,202 
 
 1844 
 
 
 
 27,504 
 
 
 
 535,253 
 
 1854 
 
 
 
 40,774 
 
 
 
 705,222 
 
 1864 
 
 
 
 41,118 
 
 
 
 684,898 
 
 I summarise below a statement of the note issue. 
 
 deposi 
 
 ts, and capital of the 
 
 [orthern banks, as far as can be ascertained : — 
 
 
 
 Year. Note Issue. 
 
 Depos 
 
 its. Capital. 
 
 £ 
 
 £ 
 
 £ 
 
 Old Bank (Newcastle).. 1756 .. 13,500 
 
 10,00 
 
 . . 2,000 
 
 1771 .. 82,000 
 
 — 
 
 — 
 
 1773 .. 102,000 
 
 — 
 
 — 
 
 1774 .. 170,000 
 
 — 
 
 8,000 
 
 1776 .. 180,000 
 
 85,00 
 
 . . 8,000 
 
 1777 .. 128,000t .. 
 
 87,00 
 
 . . 8,000 
 
 Davison-Bland & Co, ] 1788 .. — 
 
 — 
 
 . . 14,000 
 
 (Newc 
 
 astle.) 
 
 f 
 
 1793 . . 60,0( 
 
 X) 
 
 — 
 
 — 
 
 * The Bank did not begin to receive deposits till 1792, in which year they amounted to ^635,944. 
 t The great falling off is presumed to be from the number of new banks which started about this time. 
 
[57] 
 
 Year. 
 
 \ Aug. 1789 
 Bell, Woodall, & Co., ^ ,^„^ 
 
 (Scarborough) Opened " 
 May 1st, 1788. 
 
 Mills, Hopper, & Co.) 
 (Durham.) I 
 
 Total circulation of four) 
 
 Newcastle Banks. 
 
 1790 
 1801 
 1814 
 
 1793 
 1793 
 
 rote Issue. 
 
 Deposits. 
 
 Capital. 
 
 £ 
 
 £ 
 
 £ 
 
 20,300 
 
 — 
 
 2.000 
 
 22,000 
 
 — 
 
 much increased 
 
 35,400 
 
 — 
 
 — 
 
 60,000 
 
 — 
 
 — 
 
 31,420 
 
 230,000 
 
 In 1793 the following banks were existing in the district : — 
 
 London Agents. 
 Scarborough .. Bell, Woodall, & Co. 
 
 Malton, Whitby, and Scarborough Bank (Hayes, Lea- 
 tham, Hodgson, Walker, and Lister) 
 
 Down & Co. 
 
 Whitby 
 
 Whitby and Maltc 
 Thirsk . . 
 Northallerton 
 Darlington 
 
 »> 
 Stockton 
 
 Richmond 
 'Durham.. 
 
 Sunderland 
 Newcastle 
 
 Berwick 
 
 Thomas Pearson. 
 
 Sanders and Sons. 
 
 Simpson, Chapman, & Co. 
 
 Clarke, Richardson, and Hodgson 
 
 Pease & Co. 
 
 Scott & Co. . . 
 
 Peirse, Consett, & Co. . . 
 
 Backhouse & Co. 
 
 Richardson and Mowbray 
 
 Lumley, Smith, & Co. .. 
 
 George and Henry Hutchinson 
 
 Smith, Elstob, & Co. . . 
 
 Sir John Lawson 
 
 William Shields 
 
 Benjamin Dunn 
 
 Mills, Hopper, & Co. 
 
 Russell, Allan, and Wade. 
 
 The Old Bank (now Ridley, Cook 
 
 son, & Co.) 
 
 Exchange (Surtees, Burdon, & Co.) 
 Tyne (Baker, Hedley, & Co.) 
 Commercial (Forster, Burrell, Ran- 
 kin, & Co.) . . 
 The Bank in Newcastle (R. J. 
 
 Lambton & Co.) 
 Surtees, Burdon, Embleton, & Co. 
 
 R. and T. Harrison & Co. 
 
 R. and T. Harrison & Co. 
 
 Boldero. 
 
 Boldero. 
 
 Smith, Wright, Gray, & Co. 
 
 Dorriens & Co. 
 
 R. and T. Harrison & Co. 
 
 R. and T. Harrison & Co. 
 
 R. and T. Harrison & Co. 
 
 Harrison, Ainsley, & Co. 
 
 Harrison & Co. 
 
 Lefevres, Curries, Yallowby, & Co. 
 
 Vers, Glyn, Hallifax, & Co. 
 
 and Coutts & Co. 
 Brown and Collinson. 
 
 Newnham, Everett, 
 mond, & Co. 
 
 Masters & Co. 
 Brown and Collinson. 
 
 Drum- 
 
 With the exception of the three banks marked with an asterisk, I believe all to 
 have been banks of issue. 
 
 From the statements made in the time of panic in 1793, we learn that the 
 collective issue of four of the Newcastle Banks, was ;^2 30,000 (an average of 
 ;^57,500 each) ; that the Durham Bank (Mills, Hopper, & Co.), had an issue of 
 
w ^ 
 
 ;^3 1,420; and Messrs. Bell, Woodall, & Co., ^25,000. Besides the four 
 Newcastle banks mentioned above, there were eighteen issuing banks carrying on 
 business at this time. If we estimate that they had an average issue of ^25,000 
 each, which would certainly be within the mark, we reach a total of ^450,000 ; 
 if we add to this the issue of the four Newcastle banks, which is known to have 
 been ^230,000, there appears to have been a total of ;^68o,ooo of notes in 
 circulation. 
 
 In Mr. Palgrave's "Notes on Banking" he quotes a remark of Mr. Huskisson 
 as follows : — ■" Of a paper currency there are two sorts, the one resting upon 
 confidence, the other on authority." Certainly the three-quarters of a million of 
 money represented by this paper issue, rested entirely upon confidence. The 
 subscribed capital of the bankers was insignificant, and we may assume that the 
 deposits would come under the same term, as the lives of many of the banks were 
 very short. We see that the Dundee Bank existed for thirty years before its 
 deposits reached in round figures, the amount of the note issue. The North-country 
 banks as a body did not exist long enough to prove the truth of Mr. Bagehot's 
 theory of evolution from bank of issue to bank of deposit. Panic arose — confidence 
 was broken — all the banks were distressed — many succumbed, but those that did 
 weather the storm, gained immensely in public opinion. Let me give one instance ! 
 By the successful manner in which Jonathan Backhouse & Co. stood the panic 
 of 1825, they rose high in public favour, so much so, that for years, in every market 
 or fair in the county of Durham, a " Jonathan " was infinitely preferred to a note 
 of the Bank of England. Four only of the banks enumerated now remain as 
 private banks, namely, Lambton & Co., Newcastle ; Backhouse & Co., Darlington ; 
 Woodall, Hebden, & Co., Scarborough ; and Roper & Priestman (Sir John Lawson), 
 of Richmond. The first-named house relinquished its notes in 1840. The authorised 
 issue of the other firms, taking them in the order named, is — ;^86,2 18 — ^24,8 13 — 
 ;^6,889=/i 17,920 ; their average amount in circulation is ^40,500 — ^9,500 — 
 ^3^500=^53,500; whilst from two of these bankers who now publish balance 
 sheets we find that Lambton & Co. have current accounts and deposits amounting 
 to ^3,067,000, and Backhouse & Co. current and deposit accounts of ^2,993,410 
 — together ;^6,66o,4io against a note issue of under ;^5o,ooo — thus proving 
 Mr. Bagehot's theory in a remarkable manner. Looking at the banks individually, 
 we see that a great number perished ere the change from banks of issue to banks 
 of deposit was accomplished. Could we obtain the particulars of the deposits of 
 the other banks in the district, so as to show what the total deposits now are, 
 we should get some idea of the revolution in banking during the century that has 
 passed since the panic of 1793. 
 
[59] 
 
 It is probable that the great increase of country banking, and consequently of 
 the numbers of notes issued displaced much of the gold currency. The only re- 
 cord I can give is from the books of Messrs. Backhouse & Co., Darlington, for a 
 short period from December, 1778, to November, 1779. It is much to be regretted 
 that no other particulars are available. During the time named they remitted to 
 London 34,490 Guineas. If other bankers were consigning bullion in the same 
 way, the influx of gold to the metropolis must have been great. 
 
 Particulars of Gold remitted by Messrs. Backhouse & Co., Darhngton, to their 
 London Agents ; — 
 
 
 Date. 
 
 Number of Remittances. 
 
 Guineas 
 
 1778 
 
 11th Month 
 
 4 
 
 
 2,400 
 
 
 12th „ 
 
 . 
 
 9 
 
 
 3,010 
 
 1779 
 
 1st 
 
 
 11 
 
 
 4,500 
 
 
 2nd „ 
 
 
 8 
 
 
 8,700 
 
 
 3rd „ 
 
 
 6 
 
 
 3,030 
 
 
 4th „ 
 
 
 15 
 
 
 5,250 
 
 
 5th „ 
 
 
 10 
 
 
 4,200 
 
 
 fth „ 
 
 
 5 
 
 
 3,400 
 
 
 7th „ 
 
 
 3 
 
 
 1,700 
 
 
 8th „ 
 
 
 5 
 
 
 2,700 
 
 
 10th „ 
 
 
 2 
 
 
 600 
 
 34,490 
 
 The money would probably be brought to the markets and fairs of Darhngton 
 by the country people, and in the course of trade it would be replaced by the 
 notes of the Darlington bankers. Each parcel contained from three hundred to 
 a thousand guineas, and to lessen the risk of robbery they were sent by various 
 modes of conveyance to different addresses in London, the agents being duly 
 advised of the same. I quote a few of the directions — 
 
 17th 11th Mo. 1778. — 1000 Guineas per John Wetherell (a Darlington merchant). 
 
 8th of 12 Mo. — 400 Guineas per Diligence to York, thence per Coach to the Rose and Crown, St. 
 John's Street, directed to James Phillips, George Yard, Lombard St., London. 
 
 14th of 12th Mo. — 300 Guineas No. 1 per Diligence to York, thence per Coach directed to 
 Jennings and Kidson, Linen Drapers, London. No. 2. — 300 Guineas per Newcastle Coach, directed as 
 the other. 
 
 17th of 12th Mo. — 300 Guineas.— No. 1 directed to John Hooker, No. 23, Cheapside, per 
 Diligence to York, thence by Coach. No. 2 directed as above, per Newcastle Coach. 
 
 29th of 12.— 500 Guineas per John Pease's Pack to Thomas Stevenson in Queen Street. 
 
 2nd of 1 Mo. 1779.— 300 Guineas per Diligence. 300 Guineas per Fly directed to J. Good. 
 
 18th of 1 Mo. — 600 Guineas sent in a pack of Edwd. Pease, Jun., directed to Divetts, West- 
 smithfield. 600 Guineas sent the same day per same conveyance directed to Matthew Stainton, 
 Aldermanbury. 
 
[Jo] ■ 
 
 From this time Pease's pack became the favourite mode of conveyance. 
 
 After the panic of 1793, a popular idea appears to have existed, that the 
 private estates of bankers were not hable for their trade debts, but an opinion 
 given by the Recorder of Hull and Beverley dispelled the illusion, as will be seen 
 in the account of Messrs. Peirse, Consett, & Co. 
 
 The proprietors of the Commercial Bank of Newcastle having declined 
 business, took prompt measures to wind up their affairs. From time to time they 
 issued various notices, and fixed a date from which they would pay interest upon 
 their liabilities, which they eventually discharged in full. 
 
 There is very little information to be obtained as to the fate of the banks in 
 the other towns of the north. An advertisement in the local paper would imply 
 that Messrs. Richardson & Mowbray of Darlington had been in difficulties, and 
 that Mr. Richardson had died. In 1794, Mr. Mowbray informs the holders of 
 notes issued by the late Mr. Richardson and himself, that he will pay the said 
 notes with interest. Of course the satirist availed himself of the opportunity and 
 announced " A plea for assisting Public credit both novel and effectual, viz. — That 
 Gentlemen of all parties and gentlemen who are not of any party, shall forthwith 
 proceed to discharge their Tradesmen's accounts." 
 
 In July of the same year, the partners in the Tyne Bank made overtures to 
 Messrs. Lambton, " for the union of their interests in the Banking concerns," but 
 the latter firm did not consider the time opportune for such an amalgamation. 
 
 When the agitation caused by the panic had calmed down, trade resumed its 
 ordinary course. New bankers started, room for their enterprise probably being 
 made by the retirement of some who had seen enough of the business. The 
 difficulties and trials of a banker's life are well brought out in one of Hamet 
 Martineau's series of books upon Political Economy — " Berkeley, the Banker." 
 It depicts a country gentleman adopting banking as affording a pleasant way of 
 occupying his spare time, and an absolutely safe investment for his surplus capital. 
 The story shows the fallacy of both ideas. As Miss Martineau's grandfather, 
 Robert Rankin, was a partner in the Commercial Bank of Newcastle at the time 
 of its suspension, and as the well-known authoress had paid many visits to the 
 town, it is highly probable that family experiences may have suggested the story. 
 
 In 1793 the Haughton Paper Mills were busy manufacturing paper for the 
 Government whereon assignats were printed, but an account of them requires 
 
[^ 
 
 some explanation. At the commencement of the great Revolution in France, 
 1789, Talleyrand proposed in the National Assembly to confiscate all the Church 
 property, and though much opposed, it was ordered to be carried out. But an 
 unexpected difficulty arose — purchasers could not be found. The next step of the 
 Government was to issue paper money called Assignats, " because to the holders 
 of this paper was assigned a certain lien " upon the Church estates. When war was 
 declared between England and France, the notion was conceived (it is said by Mr. 
 Pitt), to forge these assignats, and pay the expenses of the war with them. 
 Of course the fraud would be found out and would immediately depreciate the 
 value of the real assignat, as the holders would not be able to distinguish the 
 genuine from the spurious. At first the representatives of the British Government 
 denied all knowledge of the forgery, but a trial (Strongitharm v. Lakyn) 
 Mich. Term 36 Geo. III. upon a Promissory Note proved the case. The 
 defendant Lakyn showed that the note was given in payment to the plaintiff, an 
 engraver, " for engraving of copper plates upon which the French assignats were 
 to be forged, and contended that, as the consideration of the note was a fraud, it 
 contaminated the whole transaction and rendered the note not recoverable by law. 
 A witness stated that the defendant, having it in contemplation to strike off 
 impressions of a considerable quantity of assignats to be issued abroad, applied to 
 him for the purpose of recommending an engraver, representing to him that they 
 were for the Duke of York's army. He applied to the plaintiff wiio at first 
 declined the business totally, but being assured by the witness that it was 
 sanctioned by Government, at length undertook the work." The local interest in 
 the matter is this — the paper for the forged assignats was made in this locality. 
 One writer stated that some of it was made at Langley Paper Mills (near Durham). 
 A communication from Sir Walter Trevelyan shows that the paper for the forged 
 assignats was also made on the North Tyne at the Haughton Paper Mills.* The 
 following statement is interesting : — 
 
 " The paper mill on North Tyne was occupied some time by the undersigned, and the owner of the 
 mill, Mr. Smith, of Haughton Castle, had the mould in his possession from which the paper was made. 
 On two occasions, Mr. Smith brought it to the mill to have a few sheets made to give to his friends. Of 
 course it was only blank paper with the French wire mark in it. The notes were sent to a Midland 
 town to be printed. The object the Government had in view was to get them circulated in Prance, so 
 as to depreciate the value of French Paper and also to pay the expenses of our army. It apparently 
 had the desired effect, for the French paper money came down to one fourth of its nominal value, as 
 stated in the House of Commons by the Chancellor of the Exchequer, November 30, 1794." 
 
 T. FOEDYCE, Newcastle. 
 The mould from which the paper was made is still in existence though much 
 
 * See Journal of the Institute of Bankers, May, 1Q94, p. 305. 
 
\._^ 
 
 dilapidated. I have been favoured with a photograph of the same by Mr. J. P. 
 Gibson of Hexham. 
 
 The forged assignats were evidently issued on different forms and for various 
 amounts. Paper manufactured from another mould at the Haughton Mills is to 
 
 be met with in the 
 locality. Mr. Simmonds 
 of Humshaugh pos- 
 sesses a sheet that was 
 presented to his grand- 
 father, the late Mr. 
 White, by Mr. William 
 Smith the proprietor 
 of the mills. The full 
 sheet was intended to 
 be divided into four. 
 The accompanying 
 block shows the water 
 mark of one of the 
 quarters. 
 
[^ 
 
 It was not long before tightness in the money market again manifested itself. 
 Many who had gold judged from late experiences that they were the best 
 custodians of it. Bankers discounted with a caution which crippled trade and 
 created uneasiness. The nation was involved in an expensive war with France, 
 and the Government were making enormous demands on the Bank of England. 
 During 1795 and 1796, constant meetings of the officials were recorded, at 
 which Prime Minister Pitt was " told that he must not overdraw his account 
 so largely, or his cheques would be returned." He as constantly promised 
 amendment, and at the same time asked for larger loans. Fears of an immediate 
 invasion were abroad. For some months in 1795, the coasts of Northumberland 
 and Durham were one long camp. At Whitburn were the 8th Regiment of Foot, 
 Durham Militia, and Durham Fencibles, under the command of General Osborne ; 
 at Whitley were the 37th Regiment of Foot, Royal Lancashire Volunteers, North 
 York Militia, and a considerable park of artillery, Lord Mulgrave being in charge. 
 The " Camp Field " at Whitley — within a stone's throw from where these lines 
 are penned — is named from the use it was put to at that time. Uncertainty 
 prevailed, those who had money held it the closer ; those who required money 
 had great difficulty in procuring any. 
 
 In February, 1797, some 1,200 French troops landed in Wales. 
 
 " The Government issued general orders to have all the stocks of farmers near the coast inventoried 
 and driven into the interior. This prudent step, and for the farmers themselves beneficial arrange- 
 ment, caused great alarm among that class, and those near Newcastle taking the lead, drove their 
 grain into the town, and sold it at any price they could get, and being paid in Bank notes rushed to 
 the Banks demanding specie." 
 
 They were so persistent, that once again all the banks had to take united action. 
 They held a meeting on Saturday, February i8th, and unanimously agreed that if 
 the demand for gold was as great on Monday morning as it had been during the 
 week, they would all suspend payment until more specie could be obtained. An 
 account written at the time says : — 
 
 " The inevitable consequences of the present ruinous war, which we' have all along predicted, have 
 lately become so obviously apparent, that an alarm arising from the absurd measures of the ministry 
 in causing returns to be made to Government of grain, live stock, carts, defensive instruments, etc., 
 has created amongst the farmers a great degree of suspicion, and apprehension of the stability of the 
 different Banking houses in the Country ; amongst others those of this town, by persons who consult 
 nothing but their fears, have experienced so great and unusual a demand for specie as no probable 
 prediction could have induced them to provide for, and in consequence the four banks of this town 
 have thought it expedient to delay the payment of their notes now in circulation till a.n adequate 
 supply of cash can be obtained from the ample means of resources to which they have at all times the 
 power of recurring, without the fear of disappointment, and we have little doubt that the numerous 
 signatures of the merchants will evince to those less intimately connected or interested in extensive 
 pecuniary negotiations, that their property cannot be placed in more advisable or perfect security. 
 
[^ 
 
 Convinced as we are of the extensive individual property of the gentlemen concerned in the different 
 Banks of this town, their known probity, enables us to state to our readers, that we think their security 
 equal to any in the kingdom, the Bank of England not excepted. The farmers who have made this 
 extraordinary demand for cash will, we are well assured, immediately feel, to their loss, the injurious 
 consequences of their attempt to hoard up the necessary current specie of the country, by the 
 depreciation of every article they produce, and we are farther authorised to say, that the principal 
 gentlemen of landed property in this neighbourhood, instead of granting the usual indulgence 
 respecting the payment of their rents, have determined that all the rents due at Martinmas shall be 
 immediately paid, in order that the cash they hold may be returned to the Banks, and again thrown 
 into the usual channel of circulation." 
 
 The banks thus closed, the usual steps were taken to try and restore confidence. 
 This being the third occasion of the kind, the inhabitants must have become 
 quite accustomed to the proceedings. 
 
 A notice was issued of a meeting to be held at Farmer's Inn, February 20th : 
 
 " To consider the most proper means of removing the inconvenience that may be experienced in trade 
 during the temporary suspension of payment in specie at the different Banks." 
 
 The meeting was duly held (the same day that the banks suspended), Robert 
 Rankin presiding. At the time of the last panic he was a partner in the Commer- 
 cial Bank. A resolution was passed : " That we whose names are hereunto 
 subscribed will receive the Notes of All the Banks here, in Payment as usual." 
 The Bankers issued the following notice : — 
 
 " As the very Great Demand for Gold which has continued for some time to be pressed upon all the 
 Banks in this Town makes it necessary that an extraordinary Quantity of Specie should be brought 
 into the Country. 
 
 Messbs. Ridley, Widdbington, & Co. 
 
 ,, SUBTEES, BUEDON, & Co. 
 
 ,, LOBAINE, BaKEE, & Co. 
 
 ,, Ralph J. Lambton, J. Bdlman, & Co. 
 Respectfully inform the public, that they intend to take immediate measures for that Purpose, and 
 they earnestly hope that any further call upon them for Gold will be suspended in the meantime, till 
 they can obtain a supply adequate to the occasion." 
 
 On the next day a meeting was held at Sunderland, and a resolution passed 
 " To receive in payment as usual the several Notes issued by the Banks of Sun- 
 derland, Newcastle, and Durham." A meeting was held in the Town Hall, 
 Durham, February 22nd, John Starforth, Esq., Mayor, in the Chair, when 
 resolutions were passed, ■ supporting the notes of Messrs. Mills, Hopper, & Co., 
 and also the Banks of Newcastle and Sunderland. The same day action was 
 taken at North Shields :— 
 
 " At a meeting of the Gentlemen, Ship-owners, Merchants, and Tradesmen of Dockwray Square, North 
 Shields, Tynemouth, and Places adjacent, held this day at Mrs. Carr's, the Half-Moon, in North 
 Shields, in pursuance of Public Advertisement, John Walker, Esq., in the Chair : — It was unanimously 
 Resolved that we whose names are hereunto subscribed, will receive in Payment the Notes of all the 
 Newcastle Banks as usual." 107 names appear on the list. 
 
[65_J 
 
 At South Shields a meeting was held in the Town Hall, R. Green, Esq., in 
 the Chair, February 23rd, when it was recorded : — 
 
 •'This Meeting being exceedingly concerned that the Country should have discovered so great a want 
 of Confidence in the neighbouring Banks, and lamenting that many People should exchange Bank 
 Notes for specie in order to lock up the same (a measure highly injurious to Commerce and which if 
 generally adopted may greatly injure the Country). Do unanimously Resolve : — That the Banks in 
 Newcastle, Sunderland, and Durham are entitled to the confidence of the Public : and that the 
 undersigned will receive in Payment the Notes of any of the above-mentioned Banks and recommend 
 to others to do the same." 193 signatures are attached. 
 
 At a meeting held at the Town Hall, Berwick, March 7th, 1797, it was agreed 
 to take the notes of the Bank of England, and those of Messrs. Surtees, Burdon, 
 Embleton, & Co. A meeting was also held at Northallerton, where the notes 
 of its bank (Peirse, Consett, & Co.) were guaranteed in the usual manner. 
 
 The Duke of Northumberland being one of the largest landowners in the 
 north, it was very important to get his sanction for his agents to accept the notes 
 of the local banks at the approaching audit. On March 4th and i ith, the following 
 announcement appeared in the northern papers : — 
 
 To the Tenants of the Duke of Northumberland. 
 THE DUKE OF NORTHUMBERLAND having received the following Letter from the 
 Proprietors of the Banks at Newcastle, and wishing, as much as in him lies, to alleviate the Distress 
 which the Circumstances mentioned in their Letter must occasion in the Country, has directed his 
 Auditors to receive their Notes in Payment of his Rents at the approaching Audit. 
 
 London, 25th February, 1797, 
 
 MY LORD DUKE, 
 
 A very extraordinary and unforseen Call having taken Place upon the Banks at Newcastle, the 
 Proprietors found it impossible for them to supply the Demand immediately, and were therefore under 
 the Necessity of reserving their Specie to supply the Payments to the Collieries and great Manu- 
 factories of the Country. The Merchants, and the Coal-Owners and many of the Gentlemen of the 
 County, having entered into an Agreement to receive the Notes in all Payments as before, we are 
 induced to hope that the Alarm which caused the Distress will speedily subside. As we cannot but 
 sensibly feel how very much the Influence of your Grace must tend to produce this Effect, we are 
 induced earnestly to solicit your Favour and Support, and to intreat that your Grace would have the 
 Goodness to direct your Agents to receive, at the ensuing Audit, their Notes in Payment of your Grace's 
 Rents as usual ; and should they be so fortunate as to meet with your Grace's Indulgence, they would 
 further request that you would take the Trouble to communicate your kind Intention to your Tenants 
 as soon as convenient, as, under the Sanction of your Grace's Support, the Proprietors flatter them- 
 selves that the Preparations they are maljing will enable them to open their Houses for the general 
 Accommodation, at a very early Period. 
 
 We have the Honor to be. 
 
 My Lord Duke, 
 Your Grace's most obedient and most humble Servants, 
 Signed— MATTHEW WHITE RIDLEY, for Self and Co. 
 
 ROWLAND BURDON, for Surtees, Burdon, and Co. 
 For Self, Baker, Pearson, Maude, and Co., WILLIAM LORAINE. 
 RALPH JOHN LAMBTON, for Self, J. Bulman, Chambers, and Co. 
 
 I 
 
w 
 
 Earl Tankerville and Lord Charles Aynsley also publicly announce that they 
 will receive notes in payment for their rents. 
 
 The inconvenience of the stoppage of all the banks is brought before us by the 
 following letter from Mr. Charnley, the noted bookseller of Newcastle, to Mr. 
 John Todd, who was in the same line of business at York : — 
 
 '^t^ 
 
 U*-,.^^^ t^/^s*—*- ^ie^^^^<>^h^ /*^~i9^<s;<^'C 0^^>7^t^^^^^/t-^9^ /^^>e^ Jk^-^m ■^z.-' 
 
 I have previously referred to the perplexity the Governor and Directors of 
 the Bank of England were in regarding the frequent applications of Mr. Pitt, and 
 to their repeated remonstrances thereupon. The large sums supplied to the 
 Government had crippled the Bank's resources and compelled them to curtail 
 advances to an alarming extent. 
 
 " On the 9th February, 1797, the Court of Directors ordered the Governor of the Bank to tell Mr. Pitt 
 that under the present state of the Bank's advances to Government, to agree to his request of making 
 a further advance of £1,500,000, as a loan to Ireland, would threaten ruin to the Bank, and most 
 probably bring the Directors under the necessity of shutting up their doors. These several 
 remonstrances to the Ministers seem to have had little or no effect ; and the result anticipated, viz,, a 
 stoppage of the Bank of England, took place even at an earlier period than the Directors themselves 
 calculated upon. The run — to speak in commercial phraseology — commenced upon some of the 
 country bankers, and the great demand for specie to supply them induced the Directors to lay the 
 state of their affairs before the Ministers, in consequence of which the following results took place : — 
 At a meeting of the Privy Council held at Whitehall, February 26th, 1797, an order was issued 
 for the Bank of England to suspend its cash payments. It is the unanimous opinion of the Board 
 that it is indispensably necessary for the public service that the Directors of the Bank should forbear 
 issuing any cash in payment until the sense of Parliament can be taken on that subject, and the 
 proper measures adopted thereupon for maintaining the means of circulation, and supporting the 
 public and commercial credit of the Kingdom at this important juncture." 
 
 There was a difference of opinion in the City on this proceeding. Some men 
 thought they saw national ruin staring them in the face, others welcomed the 
 prospect of an increase of money though it only came in bank notes. A meeting 
 
m 
 
 of the merchants was speedily called, and now they had to testify their willingness 
 to receive in payment the notes of the Bank of England, in the same manner that 
 they had seen so many in the pro\inces supporting the notes of the local bankers. 
 Opinions still widely differ as to the wisdom or justice of the suspension. Doubtless 
 meetings in support of the notes of the Bank of England and those of the country 
 bankers, were held in all large towns throughout the kingdom. I have note of 
 such gatherings at York, Doncaster, and Kingston-upon-Hull. 
 
 So strictly did the Bank of England act up to the order of Council, that many 
 London bankers could not procure coin sufficient to pay sums under £^. After 
 the panic in 1797, to obviate the difficulty of getting change, an Act was passed, 
 allowing an issue in England of notes under ^5, and in Scotland of notes under £1. 
 
 By March loth, £1 and £2 notes of the Bank of England were ready for use. 
 The new issue was not altogether acceptable. One writer says : — 
 
 " They (Bank of England) now insult the public by offering notes of twenty shillings as substitutes for 
 the metal we have long been accustomed to consider as intrinsic, and what tends still more to 
 depreciate the Public Credit is the notification of the Chancellor of the Exchequer that manufacturers 
 should be empowered to issue notes for small sums, a measure which, should it ever be adopted, would 
 render all bank paper of little more estimation than common waste paper." 
 
 Various stinging articles appeared in the northern papers ; jokes, quips, and 
 sarcastic remarks of all kinds, were hurled at the banks. The effect of the 
 suspension of cash pa3'ments upon the various stocks was most lamentable. 
 Lawson informs us that the highest price the funds had ever reached, prior to 
 1797, was the following : — Three per cent. Consols, 97^ ; Four per cent. Consols, 
 105!; Five percent. Consols, 120; Bank Stock, 219. A month after the panic 
 they stood : Three per cent. Consols, 47! ; Four per cent. Consols, 6o| ; Five per 
 cent. Consols, 72 J ; Bank Stock, 12 if. 
 
 But time the great healer passed on. Money was wanted, which anybody 
 by calling himself a banker could create, so that before the close of the century 
 numerous new banks sprang up, and money in the shape of notes was more 
 plentiful than ever. It is estimated that prior to the panic of 1797, there were 280 
 country bankers, but as licenses were not then required, no accurate return can be 
 obtained. By 18 13 they were said to number upwards of 900. 
 
 Towards the closing days of the eighteenth century, the Old Bank of 
 Newcastle was troubled with the forgery of its notes. The particulars of the 
 chase and capture of the culprit will be found in the account of the bank. 
 
[68] 
 
 CHAPTER VII. 
 
 PROVINCIAL BANKING— 1800 to 1810. 
 
 New Banks opened — Letter from Thomas Bewick— Suspension of Surtees, Burdon, & Co. 
 — Panic of 1803 — Bankers' Notes again guaranteed — The original document — 
 Wear Bank in difficulties — Its notes supported — Cook, Robinson, & Co. suspend 
 payment — Shadforth, Batson, & Co. dissolve partnership — List of public holidays 
 — Alteration of Stamp Act. 
 
 At the close of the previous chapter, we remarked upon the number of new 
 J^~\^ banks that commenced business about this time. The following firms 
 opened in the north : — Messrs. Cook, Robinson, & Co., and Goodchild, 
 Jackson, & Co., at Sunderland ; Hutton, Other, & Co., at Richmond ; Miles, 
 Wells, & Co., at Whitby ; Hammond, Hirst, & Co., at Northallerton ; Lister, 
 & Co., at Scarborough ; Smith, Elstob, & Co., at Stockton ; and Bower & Co., 
 at Malton. When we consider that each of these bankers as well as those 
 previously existing were floating their paper as fast as they could, there certainly 
 must have been plenty of money in quantity if the quality were only satisfactory. 
 
 At this period, Thomas Bewick, the reviver of the art of carving in wood, was 
 the principal note engraver in the north. Robinson's "Life of Bewick" has the 
 following interesting letter : — 
 
 Tynemouth, Tuesday Night, 13th Oct., 1801. 
 Dear Aunty, 
 
 I have just now received a letter from Luke (Clennel) informing me that the Newcastle Bank 
 
 wants a number of Bills printed immediately, therefore as soon as you receive this letter you must go 
 
 along to the shop with the key of the Desk which you will find in my Pocket Book, in my night cap 
 
 drawer — it is the largest key of the bunch — and when you have opened the Shop Desk with it you must 
 
 desire George to get the Bill Plate wanted which he will find in the bool hole over which there is a 
 
 paper pasted with Notes upon it Luke does not know the Plate and it is on that acct. that you 
 
 must get George to seek it out from amongst the other plates of the same kind which are in the same 
 
 place along with it T. Bewick. 
 
 Mr. Robinson remarks : — 
 
 " About this time (1806) Bewick was much occupied in devising means to prevent forgery of bank notes. 
 After considerable time had been consumed, and a very lengthy correspondence with bank officials, he 
 found, like many other ingenious men, that his suggestions had only served to build up the fortunes of 
 others. Sir Wm. Congreve, who was in a position to cull and select from the designs contributed by 
 various talented artists, and appropriate ideas thus made known to him, somewhat disguised by modi- 
 fications of his own, reaped in the end all the honour and advantage." 
 
[69j 
 
 In May, 1802, the partnership that had existed between Messrs. Mills, 
 Hopper, & Chipchase (The Wear Bank, Durham), was dissolved, and as Messrs. 
 Wetherell, Mowbray, & Co. (originally of Darlington), who now had a branch in 
 Durham, undertook to cash all notes of the dissolved firm, we presume that they 
 succeeded to their general business. In the following month the Commercial 
 Bank, Stokesley (Messrs. Simpson, Sanderson, Taylorson, Grainger, & Co.), 
 became bankrupt. It was only established six years before. 
 
 On the 30th of June, 1803, the financial world of Newcastle was startled by 
 the issue of a small hand-bill, proclaiming the suspension of Surtees, Burdon, & Co. 
 Of course such an announcement produced a panic in the town and district. The 
 notes of the other finns came upon them in great numbers. As no banker 
 attempted to keep bullion sufficient to meet a sudden run, and however well he 
 stood with his London agent, some days must elapse before a supply of the 
 precious metal could arrive, the towns-people again had to take the matter in 
 hand. A declaration was issued : — " We whose names are hereunto written do 
 hereby engage to take the notes of the several banks of Sir M. W. Ridley & Co., 
 Sir W. Loraine, Baker, & Co., Messrs. R. J. Lambton & Co., and Messrs. Batson 
 & Co., in all payments whatsover." 
 
 I have been fortunate in discovering the identical list that was signed at this 
 time. It is in the possession of Mr. Wm. Boyd of Benton. As it contains many 
 interesting signatures, I give a reduced facsimile of two sheets on the following page. 
 
 Sunderland came to the rescue of the Wear Bank (Messrs. Goodchild, Jackson, 
 Heurtley, & Co.). On July 23rd a meeting was held, when "in order to appease 
 the general alarm," the notes of the bank in question were guaranteed by those 
 assembled. To assist in allaying the panic some well-meaning inhabitant of North 
 Shields issued the following notice in the form of a hand-bill : — 
 
 To THE Public. 
 
 At this particular Crisis when every Man is bound to stand forth in defence of the violated Rights 
 of his KING and COUNTRY, it is lamentable to think there should be amongst them Individuals who 
 are endeavouring to strike at the Root of Public Credit, by refusing the Paper of the existing Banks in 
 Newcastle, and Neighbourhood : — assuredly no Measure could more effectually serve the Purposes of 
 the ENEMY ! It therefore behoves every ENGLISHMAN, whatever be his Rank or Station in Life, 
 to use every Means in his Power to check this Spirit of Jacobinism ; for to do away public Confidence 
 and by that Means to deprive the different Classes of labouring People of having their Wages safely 
 and regularly paid, can be attributed to no other Principle. 
 
 July 29th, 1803. A?i Englishman. 
 
 Upon the same date Messrs. Surtees, Burdon, and Co., who suspended 
 payment on June 30th, issued a notice stating that they had "determined to 
 decline entirely the business of Banking," and that they were going to place their 
 
[70] 
 
 accounts before " gentlemen of the first respectability." Holders of notes were 
 advised on no account to part with them for less than their full value, and the 
 public were assured that there would be ample to pay all demands ; they further 
 
 undertook to allow interest on 
 all notes. Messrs. Surtees & 
 Co. had been looked upon as 
 a most stable establishment, 
 and the notice of their intention 
 to wind up and decline banking 
 business only increased the 
 alarm. 
 
 On July 28th, great conster- 
 nation occurred at Sunderland, 
 the proprietors of the Shields 
 and Sunderland Bank (Messrs. 
 Cook, Robinson, and Co.), 
 having issued a notice stating 
 that from " recent failures in 
 the Mercantile part of the 
 community " they were obliged 
 to suspend payment for the 
 present, and intended sub- 
 mitting their accounts to a 
 number of gentlemen who 
 would soon lay the same before 
 their creditors. The committee 
 were nearly a month before 
 they issued their report, as it 
 did not appear until August 
 23rd. They then stated that 
 the figures laid before them 
 showed a considerable balance 
 after discharging all the liabilities of the bank. Messrs. Cook, Robinson, and Co. 
 added a notice saying that they fully hoped to resume business in a few months, 
 and that in the meantime they would allow interest upon their notes and bills 
 of exchange. The distress caused in the two counties by the suspension of 
 such important banks was very great. Eventually the proprietors of the Sunderland 
 bank resumed payment, and for some years carried on a considerable business. 
 
 
 '/*/•/»•» 
 
[71] 
 
 
 
 i:. 
 
 I '■ ~ 
 
 J?. 
 
 ,g^^^<^- 
 
 
 The affairs of Surtees, Burdon, & Co. were placed in the hands of a committee 
 who used every endeavour to get matters wound up. Although the business was 
 brought into a ver}^ much smaller compass, an entire liquidation could not be 
 
 effected, and in 1816 Aubone 
 Surtees, John Surtees, Rowland 
 Burdon, John Brandling, and 
 John Embleton, were all declared 
 bankrupt. From time to time 
 the different properties and vested 
 interests of the several partners 
 were offered for sale by public 
 auction. The total amount 
 of debts proved was nearly 
 j^400,ooo ; this was after the 
 committee had settled many 
 claims. The final dividend was 
 not paid until 1832, just twenty- 
 nine 5'ears after the failure. In 
 the same commercial panic, 
 Richard Chambers was pro- 
 claimed a bankrupt. He was the 
 surviving partner in the firm of 
 Landell and Chambers ; both 
 gentlemen had been members of 
 the house of James Davison- 
 Bland & Co., bankers, when it 
 was established in 1788. Mr. 
 ' ' Landell died in 1793, and Mr. 
 
 Chambers left the bank a short 
 ; ^ time before his failure. 
 
 
 /../ 
 
 A. 
 
 /r4,'yri^^ 
 
 
 ^— ^- -^ In 1808 notice was given that 
 
 the partnership existing between Thomas Shadforth, William Batson, and Thomas 
 Richard Batson, as Bankers at Berwick-upon-Tweed, under the name of 
 Shadforth, Batson, & Co. was amicably dissolved and a new firm constituted. I 
 cannot account for this bank announcing eight partners, when the law at this 
 time only allowed six ; except it be that Berwick was not amenable to English 
 jurisdiction. 
 
 The public holidays observed at this date must have caused great confusion to 
 
[72] 
 
 business men. It was necessary to have printed lists of them. Those observed in 
 1811 were : — 
 
 January 1st, New Year's Day. Ma/y 29th, King Charles II. restored. 
 
 18th, Queen's Birth Day. June 3rd, Whit Monday. 
 
 30th, King Charles' Martyrdom. 4th, Whit Tuesday. 
 
 February 27th, Ash Wednesday. October 25th, King's Accession. 
 
 April 12th, Good Friday. November 5th, Gun Powder Plot. 
 
 15th, Easter Monday. December 25th, Christmas Day. 
 
 16th, Easter Tuesday. 26th, St. Stephen's Day. 
 
 May 23rd, Holy Thursday. 27th, St. John's Day. 
 
 In the hst for 18 15, Jan. i — New Year's Day; Jan. 30 — King Charles' 
 martyrdom ; and May 29 — King Charles II. restored ; are omitted. The list for the 
 following year (18 16) has New Year's Day and King Charles' Martyrdom 
 re-instated. 
 
 During this period the Stamp Act was under consideration. For some years 
 the ordinary promissory note and bill of exchange had been subject to a tax. 
 About- 1 79 1 this tax was applied to bank notes. It was soon pointed out that an 
 ordinary promissory note has only one life — if we may so express it — whereas the 
 lives of a bank note are many. A suggestion was made to tax the note on every 
 issue, but this was found impracticable. In 1804, an Act was passed limiting the 
 life of a country bank note to three years from the date of issue. This Act gave 
 the bankers great trouble. By accident and oversight notes were constantly used 
 beyond the prescribed time, and fines for considerable amounts were the result. 
 Eventually the duty was increased to cover the average life of any note. Lawson 
 gives the following statement of the duties charged. 
 
 1797. 
 
 Duty. 
 s. d. 
 
 
 
 1815 
 
 
 Duty. 
 
 s. d. 
 
 £2 not exceeding £30 
 
 2 
 
 
 Not exceeding £1 
 
 1 
 
 6 
 
 £30 „ £50 
 
 3 
 
 £1 
 
 1 
 
 £2 
 
 2 
 
 10 
 
 £50 „ £100 
 
 4 
 
 £2 
 
 2 
 
 £5 
 
 5 
 
 1 3 
 
 £100 „ £200 
 
 6 
 
 £5 
 
 5 
 
 £10 
 
 
 
 1 9 
 
 £200 
 
 8 
 
 £10 
 
 
 
 £20 
 
 
 
 2 
 
 
 
 £20 
 
 
 
 £30 
 
 
 
 3 
 
 
 
 £30 
 
 
 
 £50 
 
 
 
 5 
 
 
 
 £50 
 
 
 
 £100 
 
 
 
 8 6 
 
[73] 
 
 CHAPTER VIII. 
 
 PROVINCIAL BANKING— 1810 to 1820. 
 
 Scarcity of Silver — Issue of trade tokens — Whitby and York Shillings — Riot in 
 Sunderland — Issue of Spanish Dollars from the Bank of England — Bank 
 Tokens — Dollars and Tokens in the North of England — Backhouse & Co. — 
 New Silver coinage — Tradesmen issue paper money — Gold much appreciated — 
 Parliament take up the matter — Act regarding Licences — No Collection of 
 Bank Notes — New banks open — Panic of 1815 — Banks supported — Messrs. 
 Cook's bankruptcy — Loraine, Baker, & Co. decline business — Newcastle Banks 
 again supported — "Montague" Bank — Establishment of Savings' Banks — 
 Increase in forgeries — Numerous executions — Bank of England blamed — 
 Quotations from The Black Dwarf — Action of the Society of Arts — Fish v. Ranson 
 — Cruickshank's Note — Penal Code revised. 
 
 DURING the early part of the period embraced by this chapter, silver 
 became remarkably scarce, and the coin in circulation was in a very 
 bad condition. To meet the difficulty, tradesmen in many parts of the 
 country manufactured their own tokens. In Newcastle, John Robertson, silversmith, 
 issued a silver shilling, a sixpence, and subsequently a half-crown. (See page 20.) 
 Mr. Kelly, silversmith, Newcastle, also issued coins. The Bewick Main Colliery 
 used both silver and copper money of their own production. Messrs. Christopher 
 and Jennett, booksellers, Stockton, and many others adopted the issue of trade 
 tokens. The " Whitby shilling " and the " York shilling " (the latter issued by Messrs. 
 Cattell and Barber), had a large circulation and were freely taken all over the North 
 and East Ridings. The use of trade tokens had little effect upon the state of the 
 currency ; coin gradually depreciated in value. It was know^n that the Government 
 had taken up the matter and w^ere going to provide large quantities of new silver. 
 In many places an impression prevailed that w^hen the new coins were ready they 
 would only be exchanged for weight and not for face value. In 18 16 a riot 
 occurred at Sunderland in consequence of this idea. We read — 
 
 " Many of the tradesmen of Sunderland injudiciously refused taking the shillings and sixpences that 
 were plain and without remains of the impression. In consequence of this a large concourse of the 
 poor inhabitants met after dark and commenced an attack upon the shops of Messrs. Caleb Wilson, 
 Nattrass, Middlebrook, Walton, Andrew Hall, etc., all grocers and flour dealers ; the windows of both 
 shops and houses were nearly demolished, and the shop of Middlebrook completely gutted by the mob, 
 who were seen running away with hams, groceries, etc. After the shop had been forced open, the 
 
 J 
 
[74] 
 
 33rd regiment was called out, and on the riot act being read about midnight they prepared to act hostilely, 
 when the mob in a great degree dispersed, but not before several soldiers received bruises from 
 bricks, etc. The house of Mr. Barnes, Surgeon, being at this time re-building, the mob took thence 
 many hundred bricks for their destructive purposes. The town continued in great alarm and 
 commotion for some time on this event." 
 
 On the other hand, the hope that the Government would take any coins in 
 exchange for new silver, brought a great variety of foreign and spurious specimens 
 into circulation. 
 
 "A public meeting was held at Stockton, September 9th, 1816, to determine upon the necessary 
 measures to prevent loss and inconvenience from the same, when a resolution was passed recommending 
 ' to tradesmen and others to receive in payment small sums only of such silver as appears to be the 
 regular coinage of this country ; and also of such plain shillings as shall weigh 2 dwts. and 16 grains or 
 upwards ; and that French and Irish shillings and sixpences be wholly rejected and refused.' " 
 
 From time to time various coins were issued to facilitate trade. The Bank of 
 England, having a large stock of Spanish dollars, issued them " with a small head of 
 George the Third stamped on the head of Ferdinand of Spain." (See page i8.) They 
 were valued at five shillings and sixpence each. Their issue gave rise to the 
 following rhyme : — 
 
 "The Bank, to make their Spanish dollars pass, 
 Stamped the head of a fool on the head of an ass." 
 
 On May 12th, 1804, the Directors of the bank gave notice that dollars were 
 to be stamped at Mr. Bolton's manufactory, " with His Majesty's head and an 
 inscription, 'Georgius III, Dei Gratia, Rex'; and Britannia with the words 'Five 
 Shilling Dollar, Bank of England, 1804,' on the reverse. (See page ig.) On the 
 first appearance of these tokens, the glaring impropriety of an inscription composed 
 of two languages was much animadverted upon, it then being the only instance of 
 the kind in England." On July 9th, 181 1, the bank issued silver tokens for three 
 shillings, and one shilhng and sixpence. On July 12th, 18 12, the Act relating to 
 the dollar was renewed until the ist of August, 18 13. It also extended to the 
 tokens for three shiHings and one shilling and sixpence. On July nth, 18 17, 
 an Act was passed restricting the use of the dollars and tokens issued by the 
 bank, to March 25th, 18 18, but they could be presented at the bank until 
 March 25th, 1820. The bank issued a notice stating that after the ist of 
 August, all tokens, &c., would be exchanged either for gold or silver current coin 
 of the realm, or for notes. The notice was repeated on February 12th, 18 18, and 
 all postmasters were requested to exhibit the same. On March 12th, the bank 
 gave notice that they would be ready on and after the 19th of the month "to issue 
 to each of the bankers in London current silver coin of the realm to the amount of 
 twenty thousand pounds in exchange for bank notes, provided apphcation should 
 be made for the same before the 5th of July." According to returns made to the 
 
[75] 
 
 House of Commons, on the ist June, 1818, there had been coined up to that date 
 in silver — shilhngs, 50,490,000 ; sixpences, 30,436,560.* 
 
 That the dollar and token found their way to the North of England is proved 
 by frequent entries regarding them, in the books of Messrs. Backhouse. Richard 
 Counsellor, their agent at Chester-le-Street, writes to the Durham branch — 
 
 " 6 Mo. 27, 1818— Dear Sir, I have sent with John £23 in Notes and £3 12s. in Bank Tokens— please 
 inform me if I may take Tokens any longer " 
 
 Large consignments of tokens were sent from Darlington to John Allard, London. 
 On 4 Mo. ist 1819 he is debited ^218 is. for tokens, and 4 mo. 9th of the same 
 year, ^406 12s., and the Sunderland branch is credited 4 mo. 5th : — By tokens 
 ;^400 1 6s. 6d. We are not informed why the tokens were sent to John Allard 
 rather than to the London agents of the bank. 
 
 Early in 1 8 1 7 the new issue of silver coins was sent into the country. Towards 
 the end of January 
 
 " Twenty-three artillery train waggons loaded with new silver coin left London for the North. Three 
 upon arriving deposited their lading, amounting to some £24,000 with the bankers at York ; each 
 waggon was drawn by six horses with their riders and accompanied by a military escort." On January 
 30th "eighteen artillery waggons passed through Newcastle on their way to Scotland, they were under 
 a full military escort. They were laden with silver the weight of which was recorded as twenty-four 
 tons." 
 
 The supply for Newcastle arrived very soon after, and was deposited at the 
 Mint Office in the Close. On February 13th, 1817, the public could obtain the 
 same "in exchange for the old standard coin of the realm however defaced or 
 reduced in weight by use." The exchange for silver coin commenced simulta- 
 neously in all parts of the kingdom, and lasted for a fortnight, after which the old 
 money ceased to be current, with the exception of bank tokens which were still to 
 circulate. 
 
 An extract from a letter written by Thos. Henry Faber,t from Auckland 
 Castle, to Messrs. Backhouse & Co., Durham, dated February 14th, 18 17, shows 
 the difficulty of procuring change at that time. He says : — 
 
 " I shall send to-morrow to be exchang'd nine or Ten Pounds in old Silver, which have been taken in 
 Shillings and Sixpences of almost every poor family in this town to-day, for articles of food which we 
 deliver out at reduced prices ; now I am informed that I can only receive in return twenty shillings of 
 the new coinage the remaining sum being paid in a check upon you for notes ; if this be the case I fear 
 our town will soon be drain'd of silver ; under a peculiar circumstance like this you perhaps may have 
 it in your power to accommodate me with change to the amount which the Bearer will carry in to you. 
 Though in my hands as treasurer the above Sum may be said to be the property of many. I feel 
 greatly obliged by your attention to my request in sending £5 in change on Wednesday." 
 
 ♦ For a full account, see Lawson's "History of Banking," Chap. IV. 
 + " Mr. Faber was Agent of the Bishop of Durham from 1813 to 1833. He resided close to the gates of the castle, 
 the office being within the gates. Mr. Faber's sou, F. W. Faber, became the celebrated Catholic divine and 
 hymn writer," 
 
17^ 
 
 In 1819, in some places silver was again very scarce. So much so, that trades- 
 men had to issue paper money. W. Braithwaite, T. Jennett, and T. Eeles, of 
 Stockton, all adopted paper notes for 2I6, and in other places both 5/- and 2I6 notes 
 were in circulation. 
 
 During this period gold became appreciated in value, and consequently notes of 
 the Bank- of England depreciated ; the guinea was worth about twenty-four shil- 
 lings. In 181 1, the market price of gold rose to £s us. per ounce, and the value 
 of the £1 bank note fell to 14/-. This state of things was brought to a climax by 
 Lord King issuing a notice to his tenants, stating that he would only receive his 
 rents in gold, or in paper money with an addition of ;^i7 los. per cent. The 
 question was brought before parliament, the discussions on the subject being well 
 worthy of perusal. Eventually a bill was passed, which enacted " that the taking 
 of gold coin at more than its value or bank notes at less, shall be deemed a mis- 
 demeanour." In spite of the law, the trade in guineas still went on. An old 
 resident of Northallerton, almost a nonagenarian, related to me from his personal 
 knowledge, how in that district the guards of the coaches gathered all the gold 
 they could possibly get from the country people at a small premium, and disposed 
 of it to a certain watchmaker in Northallerton, who in this way did a considerable 
 contraband business. 
 
 About this time an Act was passed making it compulsory upon 
 
 *' Each individual or company issuing notes to take out a license renewable annually, the cost of which 
 is £30. This license specifies the names and places of abode of the body corporate, person or persons, 
 in the firm to whom it is granted, the name of such firm, the place where the business is carried 
 on, etc., and a separate license must be taken out for every town or place where any note shall be 
 issued by or on account of any banker. 
 
 Unless the license granted to persons in partnership set forth the names and places of abode of all 
 persons concerned in the partnership, whether their names appear on the notes issued by them or not, 
 such license shall be absolutely void." (55 Geo. III., c. 144.) 
 
 It is stated that in 1814 there were 940 country bankers who took out licenses, 
 and most of these issued their own notes. It was also made compulsory that a 
 specimen of every note it was intended to issue should be deposited with the 
 officials at Somerset House. It occurred to me that if the specimen notes and 
 licenses were retained, they would afford most interesting and reliable data of the 
 country bankers that were in existence at that period. I therefore put myself into 
 communication with Mr. J. G. Purcell, Controller of Stamps, who most courteously 
 promised to make every search for me. Subsequently, upon a personal interview, 
 I was disappointed to learn that these valuable records were only preserved for a 
 very few years. I was further surprised to find that there does not appear to be 
 any public collection of the old notes of the country bankers. The British 
 
\jr\ 
 
 Museum, the Guildhall Library, and the Soane Museum, all failed me. Sir John 
 Lubbock and Mr. Hilton Price also informed me that they were not aware of any 
 such collection. As the day, undoubtedly, will come when the note of a country 
 banker will be as rare as the note of an old London goldsmith, would it not be 
 advisable for the officials of the British Museum to endeavour to fonii a collection 
 of such notes, which, year by year, must become more and more scarce and 
 interesting ? 
 
 The new bankers who started business in the north during this period were 
 Messrs. Skinner, Atty, & Holt, at Stockton ; Hague, Strickland, & Co., at Malton ; 
 Chapman & Co., at Newcastle and Shields ; and J. & J. Frankland, at Whitby. 
 
 In July, 1815, the old estabhshed bank of Mowbray, Hollingsworth, & Co., of 
 Darlington, Durham, Thirsk, and London, stopped payment from causes which 
 will be seen in the account of that bank. About the same period the trade of 
 Sunderland and Northallerton was thrown into confusion by bank failures. At the 
 former place, Messrs. Lumley, Smith, & Co., and at the latter, Messrs. Hammond, 
 Hirst, and Close, suspended payment. Messrs. Goodchild, Jackson, & Co., of 
 Sunderland, were also in difficulties. One hundred gentlemen generously offered to 
 become security on behalf of this bank, for j^500 each, but it was of no avail, and 
 eventually it had to suspend. Naturally such occurrences led to a run upon all the 
 other banks in the district, their notes coming upon them in greater numbers than 
 they could cope with. For the fifth time since 1772, the patient long-suffering 
 inhabitants of Newcastle had to rally to the support of their banks. The follow- 
 ing notice was issued : — 
 
 "Newcastle-upon-Tyne, 22nd July, 1815. At a meeting held this day at Mr. Foster's Long Room in 
 Pilgrim Street, of several Owners of Lands in the Counties of Durham and Northumberland, John 
 Carr, of Dunston, Esq., in the Chair, It was declared to be the unanimous Sentiment of the Meeting 
 that all the Banks of Newcastle are entitled to the fullest Confidence of the Public, and it was 
 unanimously resolved therefore That the notes issued by the undermentioned Banks, will be received 
 in Payment to any Amount by every Person present at the Meeting: — SIR M. W. RIDLEY, 
 BART., & CO.; SIR CHARLES LORAINE, BART., & CO.; R. J. LAMBTON, ESQ., & CO.; 
 MESSRS, REED, BATSON, & CO. And it was also resolved :— That a paper be forthwith prepared 
 expressive of the sentiments and intentions of this meeting and distributed through the said counties 
 for the signature of the land owners not present. 
 
 Then came the usual declaration : — " We the underwritten Land Owners of 
 the Counties of Durham and Northumberland do testify our entire assent to the 
 Resolution of the Meeting of the Land Owners of the said Counties held in 
 Foster's Long Room in Newcastle." Ninety-six names are given upon the list 
 before me. The Merchants and Tradesmen of Newcastle also issue a notice : — 
 " We the undersigned having the most unlimited Confidence in the Solidity of the 
 undermentioned banks, do hereby undertake to receive the notes of all the said 
 
[78j 
 
 banks in payment to any amount." The list bears 133 names. One of the 
 signatures is that of W. & T. Jophn & Co., who were Raff merchants at 
 Egypt, Newcastle. I shall subsequently show what an influence the signing of the 
 list by this firm had upon the formation of joint stock banks. So great was the 
 panic in the county of Durham, that even Backhouse & Co., of Darlington, were 
 " talked about.' ' Their clients and friends rallied round them and issued a declaration 
 stating that they had " the most perfect confidence in the stability and security of 
 the bank, a confidence fully justified by the substantial manner in which they have 
 carried on business uninterruptedly for the space of 40 years." How the signatures 
 to the said declaration were obtained by Mr. John Ord of Newton, who took a 
 long "sabbath day's journey" in so doing, is duly recorded in the account of 
 Messrs. Backhouse & Co. 
 
 The excitement and distress occasioned by the panic of 181 5 had hardly 
 subsided ere the credit of the banking community was again upset. In 18 16 
 Messrs. Cook's bankruptcy deprived Sunderland of another bank which had a very 
 large circulation. The Newcastle Chronicle of July 27th says : — " A Correspondent 
 from Sunderland informs us, that the greatest distress still continues there, from 
 the failure of Messrs. Cook's bank ; but that some relief is expected to be 
 experienced from a bank having been opened there within these few days by 
 Messrs. Backhouse of Darlington." At the same date Newcastle traders were 
 startled by the announcement that Sir Charles Loraine, Baker, and Co., had 
 determined to decline business. They assure their friends and the public that the 
 funds of the bank are fully adequate to meet all demands upon them, and claim 
 their indulgence until they can get matters arranged. Four gentlemen were to 
 inspect their accounts, and on the 24th July they announced that they were 
 " satisfied of their stability," and observed that the partners " do not appear to 
 have been engaged in any Trade or Speculation whatever." To allay public alarm 
 twenty -five country gentlemen guaranteed the payment of the bank's notes to the 
 amount of ^76,000, a sum " that greatly exceeds the Amount of the notes of the 
 Bank now in Circulation." 
 
 The friends of the other Newcastle Bankers had for the sixth time to come to 
 their aid. On July 24th, 18 16, the following notice appeared in the Newcastle 
 papers : — 
 
 " We whose names are subscribed, being satisfied of the stability of the Banks of Sir M. W. Eidley, 
 Bart., and Co., Messrs. R. J. Lambton, Bulman, and Co., Messrs. Reed, Batsons, Reeds, and Co., agree 
 to take in Payment the notes issued by them to any Amount. We also think it right to state that we 
 entertain no doubt of the Stability of the Bank of Sir Charles Loraine, Bart., and Co., but we deem it 
 unnecessary to extend this engagement to the notes issued by that House, as they have signified their 
 Intention to decline the Business of Bankers." The list contains 121 signatures, and a postscript 
 
[79j 
 
 states : — " It is thought right to inform the public that the above engagement has been prepared, 
 signed, and published, without any previous Communication with the Banking Houses whose support 
 is the object of it." 
 
 Messrs. Reed, Batsons, and Co. had a branch in North Shields, and steps were 
 taken there also to support the credit of the banks. 
 
 A long letter appeared in the Newcastle Courant of July 27th. Its tone and 
 arguments are good, but want of space prevents our inserting it in full. The writer 
 concludes : — " That we may receive credit from them (the bankers) let us give 
 credit to them, and then mutual confidence with all its blessed consequences will 
 
 be once more re-established These remarks are for the public good 
 
 and the result of a strong conviction that this running "d.xi^ hunting down the credit 
 of our banks is a chase in which no wise man ought to join. It may be ' sport ' to 
 some now, but if persevered in it will be death hereafter." 
 
 Large hand-bills were placed in many shop windows announcing, "The Notes 
 of all the Banks in Newcastle will be taken here." 
 
 In the autumn of the year the issuers of bogus notes were again at work in 
 Newcastle. Presumably they did a good business, as the Mayor sent out the 
 following hand-bill : — 
 
 " Caution. — There are a Set of Swindlers in the Fair attempting to put off as 
 and for Five Pound Notes, certain fictitious notes purporting to issue from the 
 Montague Bank, for the Payment of Five Half-pence ! ! ! 
 
 Mayor's Chambers, Newcastle, 28th October, 18 16." 
 
 A facsimile slightly reduced of a Montague Bank Note in the possession of 
 the writer is given. 
 
 (^J\Ht Jtlontaauc 
 
 
 
 /S 
 
w 
 
 In 1819, some evil-disposed persons fabricated and circulated a rumour 
 prejudicial to Messrs. Backhouse & Co., which led to the publication of a hand-bill 
 announcing a reward of ;^300 to any one " who will give such information of said 
 conspiracy, as shall convict the authors and promoters thereof." 
 
 About this time, benevolent persons were receiving small sums from working 
 people, allowing interest upon the same, and so commenced our Savings' Banks, 
 the first being claimed by Ryton-on-Tyne, where, it is stated, one was founded in 
 1796. In 18 1 7 the Government took up the matter, and arranged a code of rules 
 for their management. Newcastle availed itself of the opportunity thus afforded, 
 and founded a Savings' Bank in November of that year. In a short time, 
 similar institutions were established in nearly every town in the north. We cannot 
 review them all, so confine our remarks to a detailed account of the Newcastle 
 Savings' Bank, which has an interesting history. 
 
 The great increase of forgeries committed on the Bank of England during 
 this period, led to the formation of a Parliamentary Committee to enquire 
 into the matter. The number of people executed for uttering the forged notes 
 was most appalling, though it was very seldom that the actual producer was 
 taken. The Directors of the Bank of England were condemned for the simplicity 
 of their notes, which it was said rendered them most easy to imitate, and charges 
 were made against the Directors of inertness in not accepting some of the numerous 
 suggestions that were daily poured in upon them by every individual who fancied 
 he could produce a note that would defy imitation. 
 
 From the report of the Parliamentary Committee, dated February 15th, 18 19, 
 we find that the Bank Officials are quite exonerated from the charges of wilful 
 indifference made against them. The Committee state that they had requested 
 the bank to supply some account of the efforts made to devise means of preventing 
 forgeries. 
 
 "They did accordingly furnish us without delay with a detailed account of 108 projects regularly 
 classed and arranged, together with the correspondence respecting them, a statement of the trials to 
 which they had been subjected, and specimens of the proposed originals and of the imitations executed 
 by order of the bank. They also laid before us about seventy varieties of paper made at their 
 manufactory in experiments for its improvement, in wliich almost every alteration recommended for 
 
 adoption had been tried, and in some instances anticipated by their own manufacturer 
 
 We do not wish to represent those difficulties as precluding the propriety of an attempt to remove the 
 existing evils by a change in the form of the notes issued by the Bank of England ; but we do feel them 
 to be such as make it imperative upon those with whom the responsibility rests, to be fully satisfied 
 that they shall produce an improvement before they venture to effect a change." 
 
 The report is signed by Jos. Banks, William Congreve, William Courtenay 
 Davies, Gilbert Jer. Harman, W. H. Wollaston, Charles Hatchett. 
 
[^ 
 
 The press in general was strong in denouncing the number of prosecutions and 
 executions. A volume of the Black Dwarf (a London Weekly publication, edited 
 by T. J. Wooler), has been brought to my notice. The verse with which each 
 number is headed gives some idea of the spirit of the contents : — 
 
 " Satire's my weapon ; but I'm too discreet 
 To run a muck and tilt with all I meet. 
 I only wear it in a land of Hectors, 
 Thieves, supercargoes, sharpers, and directors." — Pope. 
 
 The editor plainly announces his intention to attack the action of the bank, 
 and to direct public attention to the matter. He states : — " The means of 
 comparatively preventing the forgery of small notes is easy, and several plans to this 
 
 effect have been laid before the Directors The appeal of the public has 
 
 been answered by the hangman, and the system has proceeded to such an extent 
 that thousands upon thousands are yearly expended to punish what ingenuity 
 
 and humanity might almost entirely prevent " The number for 
 
 September 23rd, 1818, commences: — "Forgery of Bank Notes — Welsh Great 
 Sessions!" An account follows of a Carnarvon jury who after the plainest 
 evidence of guilt return a verdict of "Not Guilty." Chief Baron Richards then 
 said : — " Prisoner, you have been tried for a very great offence, but the jury both 
 yesterday and to-day thought proper to bring in a verdict of ' Not Guilty.' Such 
 a verdict after such a mass of evidence must be extremely prejudicial to the public 
 interest, and for my own part, I cannot conceive how they can answer it to their 
 own conscience. That you are guilty is as clear as that two and two make 
 
 four " The same paper continues to give weekly accounts of the 
 
 prosecutions in different parts of the country, and complains that the bank holds the 
 power of life and death in its hands, by being allowed to select its victims. Some 
 were simply charged with having forged notes in their possession, and they were 
 sentenced to fourteen years' transportation, while those convicted of "uttering" 
 the notes were condemned to death. According to the Black Dwarf , these 
 prosecutions from 1797 to 181 7, cost the Bank of England nearly a quarter of a million 
 of money. Between 1805 and 18 18, 501 convictions were obtained, which resulted 
 in 207 executions. In the year 181 7, 28,412 forged notes of ^i were detected. 
 At the Middlesex Sessions, January, 18 18, both the grand jury and the twelve 
 jurymen who tried some of the cases, separately entered a very strong protest 
 against the extreme simplicity of the notes, and the severe punishment for the 
 forgery of them, and express an earnest hope that immediate steps may be taken 
 to stay the sacrifice of human life. Page after page of the paper abounds in start- 
 ling statements. Various cases are cited of notes being issued unsigned — notes 
 paid issued unsigned — notes paid and afterwards pronounced forged — notes issued 
 
[82] 
 
 by the bank subsequently declared forgeries, &c., and amongst others the follow- 
 ing instance is given : — 
 
 " A mercantile establishment in the course of business received a one pound 
 note from the Bank of England stamped ' Forged,' but relying on the correctness 
 of their own judgment in the matter they sent it back to the bank persisting that 
 it was a good and valid note. The bank thereupon replied, ' On re-inspection, it 
 appears to be a genuine note ! and therefore I enclose you one of the same value." 
 Birmingham Chronicle, September 22nd, 1818." 
 
 The Black Dwarf iox October 21st, 18 18, commences "One forgery makes a 
 felon — millions a statesman ! " And then follows a full account of the forged 
 Assignats, with comments thereon. 
 
 At the time this publication was so bitterly criticising the conduct of the bank 
 officials, the Society of Arts were voluntarily seeking information and giving sug- 
 gestions for the prevention of forgery. In 18 19 was issued "The Report of the 
 Committee of the Society of Arts, etc., together with the Approved Communica- 
 tions and Evidence upon the same, relative to the mode of Preventing the Forgery 
 of Bank Notes." As there are matters of considerable local interest in this report, 
 I extract from it pretty freely. It states : — 
 
 " The rapid increase during the last three or four years of convictions before the criminal courts, for 
 the circulation of Forgeries of the Bank of England Notes, is such as to have made a very serious 
 impression on the public mind. The increased reluctance of Juries to visit with the extreme penalty 
 of the law a crime for the prevention of which no successful precautions have apparently been taken, 
 and the notorious fact, corroborated by evidence produced at several recent trials, that Forged Notes 
 have passed through the scrutiny of the Bank Inspectors, have attracted general attention. Under 
 these circumstances the Members of the Society for the Encouragement of Arts, Manufactures, and 
 Commerce, have thought it neither unworthy of, nor foreign to the object for which they are associated, 
 to enter upon an investigation for the purpose of ascertaining whether there exist any means within 
 the compass of the fine and mechanical arts, not of fully preventing the Forgery of Bank Notes (for 
 that is obviously impossible), but of increasing the difficulty of imitation, and thus checking the 
 prevalence of the crime." 
 
 They point out that the chance of detection increases with the increase of the number of hands 
 concerned in producing a forged note. That forgeries are "usually committed by inferior and 
 necessitous men or prentice boys." That if the component parts of a note consisted of the work of 
 various branches of the engraver and printer's arts — say that it contained the work of " a first-rate 
 historical engraver, writing engraver, rose or other engraver, die sinker, engraver on wood, turner on 
 wood, paper maker," . . . . " it is not within the verge of reason to suppose that seven first-rate 
 professors in distinct branches of the arts would combine for the purpose of committing forgeries, and 
 more particularly so as the attempt could only be made at a great expense of time and money, and 
 after all could not escape speedy, if not immediate detection." 
 
 After the general report, follow a number of communications from various 
 leading artists who had given much attention to the subject. Some of them are 
 
[83] 
 
 accompanied by specimen notes of most beautiful workmanship. One of these 
 contributions is of local interest, so I give it in full. 
 
 MR. RANSON'S COMMUNICATION. 
 
 " gir, — I request that you will lay before the Society the enclosed plan, which in my opinion, will 
 prevent or at least greatlj' diminish the Forgery of Bank Notes. It consists essentially in a combination 
 of the efforts of men of acknowledged ability in the art of engraving in the usual mode and in relief." 
 
 1 
 
 
 '^^ Of Ojvx^^ 
 
 
 The note is an exquisite piece of workmanship. The centre picture is from 
 a design painted expressly for the purpose by J. Thurston, the engraving being by 
 Ranson, Lambert, and others. Thomas Fryer Ranson was born at Sunderland 
 in 1784, and served his apprenticeship as an engraver with J. A. Kidd of Newcastle, 
 after which he removed to London, and in 18 14 received the medal of the Society 
 of Arts for engraving a portrait of Sir Thomas Gresham. High as Mr. Ranson 
 stood in the Art world, it was from a fight with the Bank of England in 1818 that 
 he became more widely known. The accoimt of the trial is curious and interesting. 
 
 " Mr. Ranson in the course of business paid a £1 Bank of England note to Mr. Mitchener who kept the 
 Hole-in-the-Wall in Fleet Street. The note was subsequently stopped by the Bank officials and 
 pronounced a forgery. Mitchener applied to Ranson for repayment of the £1, but Ranson refused 
 unless the note were returned to him. Mitchener then summoned Ranson to the Court of Conscience 
 in Fulwood's-rents where Mr. Fish an official from the Bank of England produced the note. Ranson 
 asked to look at it, and then coolly put it in his pocket. Mr. Fish appealed to the magistrate who said 
 he could not interfere. Ranson walked off with the note, proceeded to Mitchener's house and paid 
 him 20/-. But the matter did not rest here, the Bank of England could not allow such an insult to 
 pass, and so instructed Fish to summon Ranson for being in possession of a note knowing the same to 
 be forged. The case came on at Marlborough Street Court before Mr. Baker. Ranson refused to give 
 up the note and was committed to Cold Bath Fields prison where to remain until duly discharged by 
 law. He was there from 23rd to 27th January, 1818, when he was again brought up. Mr. Fish and 
 
[B±] 
 
 his solicitor Mr. Westwood offered to let him off if he would give up the note. Eanson said that he 
 wished the question tried, whether the note really was a forgery, and that he would surrender the note 
 to the magistrate upon those conditions. Mr. Fish said he must consult the Bank officials. The case 
 came up again on the following day, when Ranson said he had changed his mind and would on no 
 conditions give up the note. Mr. Baker declined to send him to prison a second time and eventually 
 liberated him upon bail, himself in £200 and two securities of £100 each — binding him over to appear 
 on a future day. Now came Ranson's turn — and he duly instituted proceedings against Fish for false 
 imprisonment claiming heavy damages. The case came before Chief Justice Abbot and a Special Jury 
 at the Court of King's Bench, on February 22nd, 1819, and witnesses were called to prove the 
 genuineness of the note. Mr. Gurney the counsel for Fish said that " the defendant was taken by 
 surprise with respect to this evidence, and therefore no person was present on the part of the Bank of 
 England to prove that the note was forged." The account of the case in the Times of that date has a 
 foot-note which says : — " We observed however that Mr. Lees, an inspector of the Bank, on whose 
 evidence many persons have been convicted, was then sitting in Court, as was another gentleman an 
 engraver, who is employed by the Bank." Eventually the verdict was given for the plaintiff — 
 damages £100. Mr. Ranson was not idle during the time of his incarceration. He engraved " An 
 interior view of Cold Bath Fields Prison," adding " in which Thomas Ranson was unlawfully confined 
 by the Bank of England for holding an alleged forged One pound note (that he paid forty shillings for) 
 which was proved to be genuine by a Court of Justice. Dedicated without permission to the Governor 
 and Company of the Threadneedle Street Paper Establishment." 
 
 There can be little doubt that in this case by some inadvertency the Bank 
 officials had pronounced a good note to be a forgery. 
 
 Ranson evidently kept up a correspondence with his Newcastle friends. 
 Before me are two letters from him addressed to Mr. Charnley. The conclusion 
 of one is shown on the page opposite. 
 
 In spite of the report of the Parliamentary Committee, the interest taken by 
 the Society of Arts, and the scandal that arose from such cases as Fish v. Ranson, 
 little appears to have been done to improve the quality of the note, and forgery 
 continued. Gradually public feeling waxed hot upon the matter. It was difficult 
 to get juries to convict, and many persons refused to prosecute, preferring to bear 
 the loss rather than to hand a poor victim over to certain death. About this 
 time a caricature note drawn by George Cruickshank, did much, according to his 
 own account, to bring about an alteration of the law. He writes to his friend 
 Whitaker : — * 
 
 " There were one pound Bank of England notes in circulation, and unfortunately there were forged 
 one pound notes in circulation also : and the punishment for passing these forged notes was in some 
 cases transportation for life and in others Death. At that time I resided in Dorset Street, Salisbury 
 Square, Fleet Street, and had occasion to go early one morning to a house near the Bank of England, 
 and in returning home between eight and nine o'clock down Ludgate Hill, and seeing a number of 
 persons looking up the Old Bailey I looked that way myself and saw several human beings hanging on 
 the gibbet opposite Newgate prison ; and to my horror two of them were women and upon enquiry 
 found one woman was hung for passing forged one pound notes. The fact that a woman could be put 
 to death for such a minor offence had a great effect upon me and I at once determined if possible to 
 put a stop to this shocking destruction of life for merely obtaining a few shillings by fraud. 
 
 I went home and in ten minutes designed and made a sketch of the " Bank note not to be 
 imitated." About half an hour after this was done William Hone came into my room and saw the 
 
 ♦ " Old Time Punishments," page 218. 
 
[85] 
 
 ■w^jT'^-**^ 
 
 'y ^ -^ 
 
 
[86] 
 
 sketch lying on my table, and said " What are you going to do with this, George ? '' " To publish it " I 
 replied. Then he said " Will you let me have it ? " To his request I consented, made an etching of it 
 and it was published. Mr. Hone then resided in Ludgate Hill, not many yards from the spot whelre I 
 had seen the people hanging on the gibbet, and when it appeared in his shop windows, it caused a 
 great sensation, and the people gathered round his house in such numbers that the Lord Mayor had to 
 send the City Police to disperse the crowd. The Bank directors held a meeting immediately upon the 
 subject and after that they issued no more one pound notes, and so there was no more hanging for 
 passing forged one pound notes. I consider it the most important design and etching that I ever made 
 in my life, for it saved the lives of thousands of my fellow creatures." 
 
 A facsimile of the note is produced. 
 
 "^11 
 
 
 ^^-^ana: of England . 
 
 .^/2- 
 
 ^/^g6^ 
 
 Probably Mr. Cruickshank claims more than his share of merit in bringing 
 about the suppression of ^i and £2 notes : doubtless many circumstances tended 
 to induce the directors of the Bank of England to relinquish the issue of small 
 notes, and so relieve themselves of a responsibility that must have been most trying 
 and perplexing. 
 
 A few years later the penal code was revised and punishment by death for 
 forgery abolished, excepting for some special offences. Executions for the offence 
 of uttering forged notes were not confined to the South. Mr. R. O. Heslop, 
 favours me with the following : — 
 
 " An aunt of mine, born in 1793, told me she well remembered as a girl seeing a young fellow drawn 
 through the streets of Carlisle with his coffin, to be executed at the gallows on the Sands there. He 
 had been convicted of tendering a one-pound note which turned out to be a forgery. The youth was 
 gentlemanly-looking and was well connected, and great efforts had been made to obtain a respite. The 
 case was a marked one because of this, and because the shopwoman who received the note was the only 
 witness of his identity, on which point she had obstinately insisted." 
 
[87] 
 
 CHAPTER IX. 
 
 PROVINCIAL BANKING— 1820 to 1830. 
 
 More New Banks in the North — Sir Francis Blake, Reeds, & Co. stop payment — 
 The public become impatient — " Capt." Starkey — Forgery of country bank 
 notes — Thomas Joplin commences his agitation — He issues pamphlets in favour 
 of the Scotch system of banking — Calls a Meeting in Newcastle to consider the 
 formation of a Joint Stock Bank — Petitions the House of Commons on the 
 subject of the currency— Cash payments resumed by the Bank of England — 
 Prosperous year of 1824 — Panic of 1825 — Wentworth & Co. of York stop 
 payment — Sir Peter Pole & Co. of London suspend — Bank of England issue 
 £\ and £1 notes — Bank failures in the County of Durham — Skits on "Rag" 
 money — Bank of England relinquish privilege — Joplin renews his agitation in 
 the North — Branch Banks of England proposed — Great opposition — " Circulars 
 to Bankers" — Formation of Committee of Country Bankers — Project to restrain 
 the issue of Small Notes — Opposition from Newcastle Chamber of Commerce — 
 Petition re Small Notes — Debate in the House of Commons — Speech by Sir 
 M, W. Ridley — Government Stocks reduced. 
 
 THE new banks that appeared in the district about this period were : — Messrs. 
 Britain & Co., Raper, Swann, & Co., and Joseph Dresser & Co., Thirsk ; 
 Baxter & Co., Darlington ; Fletcher, Stubbs, & Co., Northallerton ; Sir 
 Wm. Chaytor, Frankland, & Co., Sunderland ; and last, though certainly not least 
 in importance, the Branch Bank of England at Newcastle-upon-Tyne. 
 
 Early in the decade under review, trade was once again impeded by bank 
 failures. On November 30th, 1821, Sir Francis Blake, Reeds, & Co. stopped 
 payment. They announced that they were preparing a statement of their affairs, 
 which they would lay before " Persons of the highest respectability." This bank 
 had a considerable business and a large note circulation. 
 
 The constant stoppages of the Newcastle houses brought their notes into 
 great discredit, and the temper of a long-suffering public was evidently getting 
 ruffled. Various skits and squibs appeared, tradesmen speculated in the notes of 
 the fallen bankers, and from Alston was issued a letter from Peter Pry to his 
 Cousin Bob Fudge in Newcastle, which shows so well the spirit of the times that 
 it is worthy of being copied in full in the appendix. It commences : — "Away with 
 Old Rags. Gold for ever ! ! " 
 
[88] 
 
 The events of the day were made use of by the street mendicants. " Capt. 
 Starkey," a well-known character, did a considerable business by raising loans for one 
 
 halfpenny. For this he always gave his 
 promissory note, which was frequently 
 retained by his creditors as a curiosity. 
 His memoirs written by himself, with a 
 portrait (see margin) and facsimile of his 
 hand-writing, were published in New- 
 castle in 1818. He died July 9th, 1822. 
 
 It is evident that at this time country 
 bankers generally were not having a very 
 agreeable time. The failures of the weak 
 were a constant worry and trial to the 
 strong. Forgery was not confined to 
 the notes of the Bank of England ; 
 probably as their small notes were 
 discontinued, the forger paid more atten- 
 tion to those of the country bankers 
 which were still in circulation. Mr. 
 William Boyd, one of the partners in 
 the "Old Bank," Newcastle, appears 
 to have taken great interest in the 
 matter, and although he states that their own bank had not suffered for some time, 
 he, in conjunction with Mr. Bewick the engraver, made diligent enquiry into the 
 merits of the various projects for preventing forgery that were brought before them, 
 regarding paper, ink, water marks, and engraving in general, by a number of 
 would-be inventors. 
 
 There was a feeling abroad, especially in Newcastle, that the system of 
 banking was not on a sound basis, or such constant panics and failures would not 
 arise. In 182 1 Thomas Jophn, a Raff (timber) Merchant at "Egypt," in the 
 New Road, Newcastle, was propounding a theory (first to his friends, whom he 
 button-holed on every possible occasion, and subsequently by more decisive 
 measures) that the clause in the charter of the Bank of England, which forbade more 
 than six partners in any one bank, was at the bottom of all the mischief that had 
 befallen the country banker. 
 
 There are now only a very few citizens of Newcastle who personally 
 remember Joplin commencing his agitation. They state that by most of his fellow- 
 townsmen he was looked upon as a fanatical dreamer. Nevertheless by such 
 
[J9] 
 
 men are reforms often accomplished, and Joplin proved no exception to the rule. 
 In 1822, he put his ideas into practical form and published a pamphlet, entitled, 
 " An Essay on the General Principles and Present Practice of Banking in England 
 and Scotland with Observations upon the Justice and Policy of an immediate 
 alteration of the Charter of the Bank of England, and the Measures to be pursued 
 to effect it."* It bears no author's name, but locally it was well known from 
 whose pen it emanated. An extract from "An analysis and history of the 
 Currency Question," by the same writer just ten years afterwards, will best show 
 how he was led to issue his first pamphlet. In the introduction to the work 
 quoted, Joplin says : — 
 
 " In February, 1822, I published a pamphlet calling upon the inhabitants of my native place 
 (Newcastle-upon-Tyne) and two or three neighbouring towns to form a Joint Stock Bank with half a 
 million of capital, and take steps to obtain an alteration of the Bank of England's charter. This I 
 apprehend was the first pamphlet or publication of any kind in which the nature of the Scotch system of 
 banking was properly explained. But four or five years before there was a panic in the town, all the 
 banks, four in number, were in discredit with the public, and there was a run upon them which was in 
 a great measure allayed by the publication of a paper by the respectable inhabitants pledging 
 themselves to take the notes of all, or any of them, in payment to any amount. This pledge, to which 
 I was a party, was one which might have ruined many and injured most of those who gave it, for a 
 single bank had failed in the same town not many years before, indebted a million sterling, which did 
 not pay more than 4s. in the pound. It naturally led to reflection, and it appeared to me that instead 
 of coming forward in time of such danger and blindly entering into an obligation so unlimited in favour 
 of banks, which, for anything that could be possibly known to the contrary, might be insolvent, it 
 would be better for each party to become surety for his own banker for a specific sum, not only in 
 periods of difficulty but at all times, the parties thus coming forward being allowed to nominate a 
 committee to communicate with the bankers from time to time. Such an idea being once started, it 
 was only necessary to go a step further and imagine that these parties, instead of guaranteeing another 
 bank, should pay up a capital and form a bank of their own, to be managed by such a committee, in 
 order to arrive at the notion of a Joint Stock Banking Company, and be led also to reflect upon the 
 probable success of such an undertaking." 
 
 The original pamphlet is an 8vo. of 70 pages. It gives a masterly resume of 
 the results of banking in general, and its effect upon the North of England in 
 particular, during the previous half century. The writer then proceeds to show 
 the results of the banking system pursued for the same period in Scotland, and 
 how comparatively free they had been from panic and turmoil. He says : — 
 
 " Thus then, it appears to be the result of experience that while our banks are often destructive, 
 at all times dangerous, and at the very best totally inadequate, from want of stability and credit, 
 to perform the proper functions of banks, the Scotch banks never fail, nor is any danger ever 
 apprehended from them, and that in consequence banking is carried on in that kingdom to an extent 
 unknown to, and, of course, with advantages totally unfelt in, our own. The cause of this difference 
 proceeds from the charters of the Banks of England and Ireland, which prevent, in their respective 
 
 ♦ " Newcastle-upon-Tyne : Printed by Edward Walker, Pilgrim Street, and sold by Ridgeway and Co., 
 London ; Peter Hill and Co., Edinburgh ; and all booksellers." 
 
 L 
 
[90j 
 
 countries, more than six persons from entering into a banking concern, while in Scotland there is no 
 such monopoly and banks can be established on the proper principles and as many people become 
 partners in them as choose." 
 
 The writer then makes a powerful appeal to his friends to take steps to get 
 the law so altered that Joint Stock Banks may be legalised, adding : — 
 
 "The charter of the Bank of England does not however expire until 1833, and the obnoxious clause 
 will require to be immediately expunged from it. But this can be done without injuring the bank, 
 and the wishes of Ministers, with the directors of the bank, must necessarily be imperative ; nor is 
 there anything to fear from the directors themselves, who, in conducting the afiairs of the bank, have 
 always acted upon disinterested and public-spirited principles ; neither can it be supposed that any 
 measure for the public welfare which was conceded by the Bank of Ireland without objection, would 
 be resisted by the Bank of England. The consent of the directors to any alteration which benefits the 
 public without materially injuring the bank may therefore be also relied upon. The right, 
 consequently, of the bank to prevent more than six partners entering into a banking concern is, with 
 respect to the whole kingdom except London, a right which confers no advantage upon it, while it 
 loosens the whole frame of commercial credit of which banks are the pillars and support. To call it 
 therefore a right, with respect to the country, is improper; legally it may be termed a right, but 
 
 equitably it is nothing but a wrong The only persons who will be injured by it will 
 
 be the present bankers. But no set of men can expect a country to continue voluntarily to inflict 
 itself with a curse, after the cause of it is discovered, merely for their advantage. They must take 
 the fate incident to all rights or institutions built on a sandy foundation of error — as soon as the truth 
 appears the fabric must be dissolved." 
 
 Joplin's words were almost prophetic. When he wrote in 1822 the number 
 of private banks in the kingdom was nearly 1,000, to-day they are considerably 
 under 200. Of those that remain many somewhat partake of the nature of Joint 
 Stock Banks by annually publishing a statement of their accounts. Joplin used 
 every means to circulate his pamphlet and spread his ideas. He called a meeting 
 of his friends by issuing the following notice : — 
 
 Newcastle, 1 Mat, 1822. 
 " Sir, — It appearing to be the Wish of those desirous to promote the 
 Establishment of a Public Bank, that a Meeting of Gentlemen should be held in 
 the first Instance to take the Subject into consideration, I have the pleasure to 
 inform you, that such a Meeting will take place at Dodsworth's, the Queen's 
 Head, on Monday next, at one o'clock. 
 
 I am, Sir, your most obedient Servant, 
 
 THOMAS JOPLIN." 
 
 Whether the meeting was ever held, or what was the result, we have no 
 record, and can only draw inferences from a subsequent statement of Joplin's. 
 Writing in 1827, he says : — 
 
 " His (the author's) first step was to distribute his pamphlet among the leading people of Newcastle, 
 Durham, Shields, Sunderland, Manchester, and Liverpool. The influence of the existing banks so far 
 preponderated, that the only meetings which assembled to consider the project, occurred in Liverpool 
 and the County of Durham. Some of the leading merchants of the former place memorialized 
 
[9^ 
 
 ministers, and in the latter, -which had suffered much by bank failures, a meeting was held ; at which 
 the Right Honourable Lord Barrington presided, and resolutions were passed declaratory of opinion in 
 favour of the author's principles." 
 
 In 1823, Thomas Joplin presented a petition to "The Honourable the 
 Commons of the United Kingdom of Great Britain and Ireland in Parliament 
 assembled." It contains 39 clauses, and prays : — "That your Honourable House 
 will institute an enquiry into the state of the circulation of the kingdom with a 
 view to ascertain whether it is deficient : and if so, whether any immediate remedy 
 can, with prudence and safety be applied, and also, whether sounder principles 
 for the management of the currency might not be adopted." — Here for the present 
 we must leave Joplin and his projects : it will however be necessary to revert to 
 him at a subsequent page of this work. 
 
 In 182 1, cash payments were resumed by the Bank of England, after a 
 suspension of a quarter of a century. The resumption does not appear to have 
 made any perceptible impression upon the trade of the north, which like that in 
 other parts of the country, was at this time unusually brisk. The year 1824 was 
 one of marked prosperity in every channel of business. It is most difficult now 
 to decide what portion of that business was legitimate demand, and what was rash 
 speculation. A mania set in for the formation of Joint Stock Companies, 
 which were lawful for all trades but banking. Many of these Companies were 
 hollow and rotten, yet we read that " no year has ever exceeded that of 1824 in 
 its exports, and the Chancellor of the Exchequer, in an exultant tone of triumph, 
 congratulated the House on the auspicious circumstances of the period." The 
 early months of 1825 found men restless and excited. New bubble companies 
 were daily announced ; the shares of most of them were eagerly applied for, and 
 again dealt in at high premiums ; trade and toil appeared to be growing old- 
 fashioned; every one seemed drawn into a huge wave of speculation. The 
 bankers all discounted freely, and consequently the note circulation increased 
 enormously. But the highest tide must turn at some point, and November was 
 the time of this tide's commencing to recede. 
 
 From various causes the bullion in the vaults of the Bank of England was 
 getting lower and lower; so much so, that the directors felt compelled to 
 restrict their discounts. On November 23rd, a most exciting scene was witnessed. 
 An eager crowd was outside the bank parlour waiting to know the result of the 
 bills they had previously left. The directors accommodated all they possibly 
 could, but many would-be discounters were disappointed. The restrictions, once 
 commenced, soon resulted in panic. Early in December, Messrs. Wentworth & Co., 
 bankers at York, stopped payment, which produced great consternation in 
 
[92j 
 
 the district. A meeting was speedily called to support the notes of the York 
 bankers, and the following resolution was passed : — 
 
 " We, the undersigned merchants, traders, and others, of the City of York, think it right to express 
 our determination to receive in payment the notes of Messrs. Swann, Clough, & Co., and Messrs. 
 Wilson, Tweedy, & Co., being perfectly satisfied with their stability, and also considering the great 
 inconvenience that would result to the public should their notes be withdrawn from circulation." It 
 is further stated, " The above measure took place for the convenience of the public, and not from any 
 wish on the part of the bankers, who, from their known respectability and caution, are at all times 
 ready to meet any demands upon them, but it was thought that should their notes be taken in for 
 payment, great inconvenience would be caused to the public by so large a part of the circulating 
 medium being withdrawn from the city and neighbourhood." 
 
 On December 12th, the London house of Sir Peter Pole & Co. suspended, 
 and as they were agents for upwards of forty firms in various districts, sudden 
 alarm and consternation was created, each holder of "rag" money being eager 
 to have it changed for gold. Bankers at Carlisle, Leyburn, Penrith, Richmond, 
 Scarborough, Stockton, and Stokesley drew upon Sir Peter Pole & Co., and would 
 all be seriously affected by their sudden stoppage. The partners in the country 
 banks rushed to London to try and obtain gold, but found the greatest difficulty 
 in converting the best bills or securities into specie. Failure after failure 
 was announced, and the gold of the Bank of England was almost exhausted, 
 when the officials bethought themselves of a stock of £\ and £2 notes 
 that they still had remaining. Government sanction was obtained to issue 
 these, and they were freely accepted by many country bankers. At Norwich, it 
 is said, the very sight of them allayed the panic, and in London they worked 
 wonders. One writer says : — " The Bank of England would have been compelled 
 to have suspended cash payments had not the directors fortunately stumbled over 
 a lot of One Pound Notes which had not been issued." This is incorrect ; the 
 existence of the notes was well known. In the writer's possession is a note of 
 this period ; it is a curious circumstance that it bears two dates. 
 
 
 ONE. 
 
 
 BANK OP ENGLAND, 1821. 
 
 No. 94141. 
 
 I promise to pay Mr. Henry Hase or bearer No. 94141. 
 on Demand the Sum of ONE POUND. 
 
 
 1826. Jany 10. London. 10 Jany- 1826. 
 
 XjOne 
 
 For the Govr. and Compy. 
 of the Bank of England. 
 
 H. BOCK. 
 
 We may presume that the note was printed in 1821, but numbered and 
 re-dated when issued. 
 
[93} ^_ 
 
 By Saturday, December 17th, the storm had spent itself, but between sixty 
 and seventy country bankers had bowed their heads to the gale. The effect in the 
 Newcastle district was exceptionally light. The Newcastle Chrojiicle of December 
 17th, says : — "The distress now prevailing in the money market in London has 
 scarcely extended to this part of the country. After the failure of the York Bank 
 slight runs took place upon the banks of this town (Newcastle), Sunderland, 
 Durham, &c., but they were promptly met and soon subsided." In some parts of 
 Durham the result was not so satisfactory. The Darlington banks had a smart 
 raid made upon them. Skinner and Co., of Stockton, were saved by a timely 
 arrival of specie (see account of that bank). A declaration of acceptance of their 
 notes was issued. Messrs. Hutchinson & Place, of Stockton ; Baxter & Co., a 
 small bank at Darlington ; and Messrs. Hague, Strickland, & Co., of Malton ; all 
 suspended, and two years afterwards the list was swollen by the failure of 
 Goodchild, Jackson, & Co., of Sunderland. The demand for gold must have been 
 very great. The Hertford Mercury, for December, 1825, says : — " Upwards of a 
 million sovereigns passed through Ware on Saturday last and considerable quantities 
 subsequently, as a rehef to country bankers." 
 
 Tradesmen again speculated in the notes of the bankers under suspension. In 
 many shop windows notices were posted stating that the proprietors would give 
 goods for the notes of such and such a banker. Squibs were issued that contained 
 more sarcasm than learning. Two of those published about this date are shown 
 on the next page — doubtless they are samples of many others that appeared. 
 
 When men had time to breathe after the exciting incidents of December 1825, 
 every one was ready to denounce some invisible foe who had been the cause of so 
 much disaster. Some blamed the Bank of England, some the formation of the 
 bubble companies, others the over-issue of the country bankers. Whatever the 
 cause, the effect was, that the Chancellor of the Exchequer and the representatives 
 of the Bank of England entered into negotiations that very soon resulted in the 
 establishment of two radical changes in the banking world, viz.. That the Bank 
 of England should establish branches of its own in different parts of the country, 
 and that the bank should give up its exclusive privilege as to the number of 
 partners engaged in banking, except within a radius of 65 miles from the 
 metropolis, and that steps should be taken to suppress the issue of all bank notes 
 under ^5.* 
 
 * In "A Century of Banking in Dundee " is the following announcement.— 1826. " Emancipation of Banks in 
 England. The Act of 1708, forbidding the issue of notes in England by banks having more than six partners 
 was, with the consent of the Bank of England, it being one of its protections, now repealed, except as to London 
 and its neighbourhood, to the extent of sixty-five miles on all sides. From this date commences the 
 establishment of the Provincial Joint Stock Banks in England, which were formed as follows— in 1826, 3; 1827, 
 4 ; 1829, 7 ; 1830, 1 ; 1831, 9 ; 1832, 7 ; 1833, 9 ; 1834, 10; 1835, 9 ; 1836, 45." 
 
[94] 
 
 COANQ^ Md4j0tm QOOPS' itsTTO Q^OhV J'QWRETQUS^WB^C^H 
 
 KHfiP A^j'Bofiv TiMn, ^ramr you Ai^y ^Ujr tbj^ ^dJU^ 
 tRor^mj TOO Em Cf,^rr hOM^m tban ,youf< y)5'/;^/2V'<T mc« 
 
 TCXC A re re jata mJ^Kcnsdn 
 
 PAVMt iArcolj)^ mi wi)) 
 
[_95^ 
 
 About this time Joplin again renewed his efforts for the formation of a bank 
 in Northumberland and Durham, to be incorporated by Royal Charter. The 
 propositions were much the same as those contained in his pamphlet of 1822. 
 
 A circular dated from Newcastle, December 27th, 1826, issued by the solicitors 
 to the undertaking (Messrs. C. & P. Fenwick) will explain how matters stood. 
 
 " SiH, — Since we had the honour of addressing you on the subject of the proposed Joint Stock Banking 
 Company for the Counties of Northumberland and Durham, we have endeavoured to ascertain the 
 feelings and sentiments of Her Majesty's Ministers regarding it, and we are happy to state that they 
 have expressed themselves highly in its favour. 
 
 We have reason, however, to believe, that ministers would be unwilling to have the subjects 
 either of Banking or Currency forced upon their consideration this Session of Parliament. It is 
 probable they wish for the opportunity of giving them their more undivided attention. 
 
 This being the case, it appears to us that it might be impolitic to take the steps at this moment, 
 pointed out in our last circular, and in the exercise of what we trust, the friends of the undertaking 
 will consider a sound discretion, we shall venture to postpone for the present, the meeting that was to 
 have been held this month. Should nothing occur to render an earlier meeting desirable, we propose 
 to take the liberty of calling upon the friends of the measure to meet shortly after the prorogation 
 of Parliament. In the meantime, we shall not be inattentive to the interests of the establishment, 
 and as a few months' delay cannot diminish the necessity for, or the value of, the undertaking, we 
 hope it will have no other effect upon its numerous and we trust rational supporters, than to confirm 
 them in the sentiments they at present entertain." 
 
 The negotiations between the Bank of England and the Chancellor of the 
 Exchequer were soon brought into shape, and steps taken for the formation of 
 branch banks, Gloucester being fixed upon as the first field of enterprise. There 
 on July 19th, 1826, the earliest Branch Bank of England was opened. The agent 
 was ready to do ordinary banking business, but the primary object was the 
 circulation of notes. These were dated from the branch and made payable in the 
 town of issue or in London. The country bankers were naturally alarmed at this 
 invasion of their territory. Great diversity of opinion was expressed as to the 
 poHcy of the directors of the Bank of England adopting such a course. The 
 country bankers do not appear to have had any organised association for self- 
 defence. Not till Messrs. H. Burgess & Co. commenced their "Circular to 
 Bankers, etc.," (the first number of which is dated July 27th, 1827) do any active 
 steps by way of opposition appear to have been taken. Mr. Burgess denounces the 
 action of the Bank of England in no doubtful language, and urges the provincial 
 bankers to combine for their own defence, and proposes " that a committee of the 
 principal country bankers to digest a plan of operation in London, would be the 
 most likely means of speedily attaining the object in a satisfactory manner." 
 The Circular to Bankers was issued weekly, the latest news being often recorded 
 
M 
 
 in MS. The following is extracted from the MS. in Circular No. 3, dated 
 August loth, 1827 : — 
 
 " There have been many meetings privately of late, amongst bankers in the North and in the West of 
 England, to deliberate on the present state of the banking interests, it is clear that if the London 
 bankers are made to act in such a manner as from their station they ought, it vyill be only because 
 the country bankers present to them some powerful motive for doing so. The bank directors certainly 
 intend to take the whole circulation of the country into their own hands. They receive and pay 
 dividends and transfer money gratis, and they will certainly be resorted to by some amongst the 
 country gentlemen for depositing without interest their surplus money." 
 
 Mr. Burgess is most persistent in his defence of the provincial banker. By 
 Tuesday, October 9th, 1827, arrangements were made for a committee of the 
 London bankers '' to receive and consider a communication from the country 
 bankers then in London, respecting the unreasonable, grasping, and dangerous 
 proceedings of the bank directors, manifested in their establishing branch banks 
 and endeavouring to obtain as much as possible of the business of private bankers." 
 Mr. Swann of York is the only north-country banker reported present. At the 
 meeting, documents were laid before the London firms, one of which 
 commences : — 
 
 " While some difference of opinion, as might naturally be expected, exists among Country Bankers, as 
 to the course most expedient to be pursued, they all entertain a common feeling of apprehension as to 
 the effect which the establishment of Branch Banks must have upon their interests and the general 
 interests of the public, and are anxious that some well digested plan for their protection should, if 
 possible, be devised." 
 
 The case was fully discussed, and it was agreed to adjourn the meeting till 
 Saturday the 13th, when more bankers were expected to be in town. At the 
 adjourned meeting the following resolution was passed : — 
 
 " That this Committee deeply feel impressed with the injurious tendency of the measure in question, 
 and will be happy to receive from the body of Country Bankers any plan of proceedings applicable to 
 the case, and to give it their immediate attention." 
 
 Mr. John Easthorpe, who acted as secretary, in due time issued the 
 following : — 
 
 " At a meeting of several Country Bankers, held in pursuance of the circular letter of Mr. Easthorpe. 
 P. M. James, Esq., of Birmingham, was appointed to the Chair. It appearing to this meeting highly 
 desirable, at all times, to be enabled to collect the opinions, and to combine the efforts of so numerous 
 and important a body as the Country Bankers of England and Wales on any question considered likely 
 to affect their general interest, It was resolved ... to form a Committee of Country Bankers." 
 
 A meeting was held at the Old Tavern, Bishopsgate Street, December 7th, 
 Sir John Wrottesley, Bart., M.P., in the chair. Sundry resolutions were passed, 
 and a deputation appointed to wait upon Lord Viscount Goderich, and the 
 Chancellor of the Exchequer, and the meeting was adjourned until Monday, 
 December loth, when the chairman gave an account of the interview of the 
 
[JlJ 
 
 deputation with the Premier and the Chancellor of the Exchequer, and read their 
 answer as follows : — 
 
 "Lord Goderich and the Chancellor of the Exchequer stated to the Deputation that they were fully 
 sensible of the great importance of the subjects which were brought before them by the Deputation, 
 and that although it was obviously impossible that they could undertake on the part of the Government 
 to express upon that occasion any opinion upon the matter under consideration, they could assure the 
 Deputation that all that had been communicated should receive the most deliberate and serious 
 attention." 
 
 The bankers next appointed a standing committee of twenty-seven members 
 representing firms in all parts of the country, to watch the general interests of the 
 community. Mr. J. Backhouse of Sunderland was a member of this committee. 
 The result of the bankers' agitation it is difficult to detennine ; several branches of 
 the Bank of England were opened, but in Circular No. 7 Mr. Burgess says :— 
 " A rumour prevails in various parts of the country, that the Directors of the Bank 
 of England have resolved to establish Forty Branch Banks in addition to those 
 already opened for business. And as a \ery high and respectable authority has 
 been mentioned to us for the truth of this, we deem it right to give our opinion on 
 the matter immediately." As the number of branches opened never amounted to 
 half this number, it is possible that the action of the country bankers may have 
 had some effect. The merchants and tradesmen in many districts also objected to 
 the branches being opened. The MS. in Circular No. 12, October 12th, 1827, 
 says : — " The Bank Directors have answered the representation of the people of 
 Hull, that they do not like to be dictated to, but that the project of establishing 
 a Branch there will not be acted upon for the present." 
 
 Differences of opinion regarding the advisability of the branch system appear 
 to have existed even amongst the Directors of the Bank of England. Mr. William 
 Leatham in his " Letters on the currency question addressed to Charles Wood, 
 Esq., M.P.," says : — 
 
 " It is well known this proceeding of the Bank becoming a country banker, proposed by one director, 
 and supported by others, was met by some other directors of long experience with opposition, as a 
 measure of doubtful wisdom, and degrading to the dignity of the bank and its direction. I believe 
 more than one director withdrew at this period, and I know that J. Harman, Esq., was one of them. 
 He had passed the chair ; and his highest rank as an old English merchant is acknowledged by all his 
 fellow citizens." 
 
 An account of the active opposition taken by the Chamber of Commerce 
 in Newcastle against the Bank of England opening there, and the letters written 
 by "Alfred" will be found in the record of the Newcastle Branch. 
 
 About this time the Northern bankers instituted a periodical meeting of their 
 various representatives. They first assembled at Thirsk, but that place was soon 
 
 M 
 
__^ w 
 
 changed for Northallerton. Exchanges of notes were made, and matters affecting 
 the general interests of their business discussed. 
 
 The law affecting notes under ^5 was, in 1822, extended until 5th January, 
 1833, but the panic of 1825 so frightened the Government, that they passed an 
 Act restraining the issue of one pound notes by country bankers to 1829. 
 Petitions in favour of small notes remaining in circulation were presented from 
 several quarters. 
 
 In Newcastle-upon-Tyne the matter was taken up by the Chamber of 
 Commerce at a Special General Meeting, held March 8th, 1828. " Mr. Lamb gave 
 notice that at the next Committee Meeting (in April) he would bring forward a 
 motion respecting the one pound notes." 
 
 The following extracts from the records of the Newcastle Chamber of 
 Commerce have been furnished by Mr. B. Plummer. 
 
 COMMITTEE MEETING, Uth April, 1S28. 
 
 Peesent : — 
 ANTHONY EASTERBY, Esq., in the Chair. 
 
 Messrs. J. Lamb. Messrs. M. Plummer. Messrs. R. Ohmston. 
 ,, J. Potts. ,, E. H. Campbell, ,, W. Armstrong. 
 
 ,, W. Redhead. ,, Jos. Price. ,, Jos. Shield. 
 
 ,, R. Marshall. „ T. Hedley. ,, T. Cookson. 
 
 ,, G. Burnett. ,, T. Doubleday. 
 
 Mr. Lamb read the Draft of a Petition to Parliament against the Act which restrains the Issue of 
 One Pound Notes by Country Bankers, after the month of April, 1829. 
 
 After a good deal of Discussion (it being carried by a great majority that a Petition should be 
 addressed to Parliament on the question of the One Pound Notes) It was Resolved — That on so very 
 important a matter as the Currency a General Meeting should be convened by the Secretary, on 
 Wednesday the 16th inst., vrhen all the Premises should be taken into due consideration. 
 
 GENERAL MEETING, 16th April, 1828. 
 
 Present : — 
 A. EASTERBY, Esq., in the Chair. 
 
 Messrs. Campbell. Messrs. J. Potts. Messrs. R. Marshall. 
 „ T. Doubleday. „ A. Clapham. „ M. Plummer. 
 
 ,, W. Armstrong. ,, G. Burnett. ,, A. Hall. 
 
 „ Brockett. „ R. HoYLE. „ T. Hedley. 
 
 „ R. Ormston, Jr. „ W. Redhead. 
 
 The Secretary having read a Petition submitted by Mr. Plummer, respecting the small note 
 Currency, as also that which had been previously recommended by Mr. Lamb, a good deal of discussion 
 ensued as to which should be adopted. It was finally carried that the Petition brought forward by 
 Mr. Lamb should be adopted subject to a trifling alteration, and transmitted to the Hon. H. T. Liddell 
 to be bj' him presented to the House of Commons. 
 
[99] 
 
 Nbwcastle-on-Tyne, 17th April, 1828. 
 Hon. H. T. Liddell, M.P., London. 
 
 I have the honor to enclose you the copy of a Petition to Parliament on the subject of the Act 
 which restrains the Issue of Small Notes, which Petition was unanimously agreed to yesterday by the 
 Chamber of Commerce of this town. 
 
 I am desired, Sir, on the part of the Chamber to request that you will have the goodness to 
 present this Petition to Parliament, and that you will be pleased to give it your powerful support in 
 the House. The original Petition engrossed on Parchment was forwarded you in a parcel per the 
 
 mail this evening. 
 
 I have the Honor, &c., 
 
 (Signed) T. GRIEVSON, Secretary. 
 
 Newcastle on-Tyne, 17th April, 1828. 
 Matthew Bell, Esq., M.P., London. 
 
 I am requested by the Chamber of Commerce to acknowledge the receipt of your highly obliging 
 letters under date of the 10th and 21st ultimo, and to express their warmest acknowledgments for the 
 trouble you were pleased to take in the affair of the Branch of the Bank of England about to be 
 established in this Town. 
 
 On the present occasion, Sir, I have the honour to enclose you the copy of a Petition to the 
 Legislature on the subject of the small Note currency. The Petition itself was forwarded by this 
 night's mail to the Hon. Mr. Liddell, with a request that he would be so good as present it to the 
 House. The Chamber of Commerce earnestly hope. Sir, that you will also honour it with your support. 
 
 I have the Honour, &c., 
 
 (Signed) T. GRIEVSON, Secretary. 
 
 Newcastle-on-Tyne, 21st April, 1828. 
 Matthew Bell, Esq., M.P., London. 
 
 I have the honour this morning to receive your obliging favor dated the 19th instant. I regret 
 exceedingly that in the hurry of expediting my Letters last Thursday evening I should have omitted 
 enclosing you a copy of the Petition respecting the small Note currency. I trust however, that the 
 Newcastle papers (the Petition being published therein) will have put you in possession of the 
 Arguments used in that Document at least a couple of days before this can possibly reach you. 
 
 I have the Honour, &c., 
 
 (Signed) T. GRIEVSON, Secretary. 
 
 PETITION RE SMALL NOTES. 
 
 To the Honourable the Commons of Great Britain and Ireland in Parliament 
 
 assembled : — 
 
 The humble Petition of the Chamber of Commerce of Newcastle-upon-Tyne sheweth — That your 
 Petitioners are deeply interested in all that concerns the commerce and manufacture of Newcastle 
 and the surrounding district. 
 
 That by an Act of Parliament some little time ago passed, the period for the circulation of any 
 Promissory Notes to Bearer under the value of £1— -will expire on the 5th of April, 1829. That now for 
 many years a great proportion of the circulating medium of this district has consisted of a local 
 currency of £1 notes and that with great advantage to the community at large. That your petitioners 
 are fully aware that while Country Bankers were not under the salutary check of being obliged on 
 demand to pay their notes in a metallic currency, a great temptation was held out to an over-issue of 
 paper ; that your Petitioners however in confining themselves to the state of the Northern Counties 
 feel bound to declare that at no time has the issue here of bank notes been exclusive or beyond what 
 the circumstances of trade fairly required. That in this part of the kingdom no inconvenience has 
 been, or is likely to be experienced from the existing system of paper circulation and that your 
 
[ 100 ] 
 
 Petitioners must therefore deprecate any measure having for its object a change in the local currency. 
 That in particular your Petitioners must deprecate the suppression of the £1 notes — a species of 
 circulation without which it must be extremely difficult to effect the payment of wages and the 
 smaller interchange of trade. Your Petitioners will not press upon the attention of your Honourable 
 House the inconveniences which must be felt in all the retail branches of business from the suppression 
 of the £1 notes, as they are such as must be evident to every person, but they deem it necessary 
 clearly to explain the difficulties which must be experienced in the payment of wages to the workmen 
 connected with the collieries and the various manufacturing concerns in the district. It is usual to 
 pay such persons once a week or once a fortnight, and the sum which each person has to receive may be 
 from £1 to £2 at a time. There are some concerns here which for wages and trifling purchases, pay as 
 much regularly as £4,000 in a fortnight, and your Petitioners can positively state that out of £4.000 
 advanced for such purposes, not more than £800 or £1,000 can in general be paid (without subjecting 
 the parties receiving to great inconvenience) in notes of £5 or upwards. The consequence necessarily 
 is that a large proportion of the paper circulation in the district consists of £1 notes, and that to make 
 a forcible substitution of gold for such notes would be in a great measure to deprive the public of the 
 utility of banking establishments. 
 
 That your Petitioners have most respectfully to observe upon the anomaly of the law as affecting 
 England and Scotland. At a distance of not more than 60 miles from Newcastle, the Scotch bankers 
 or any other bankers choosing to establish themselves on the borders of Scotland will have it in their 
 power to issue £1 notes, and which in the nature of things cannot be prevented circulating in this 
 populous neighbourhood. The law therefore in this part of the kingdom as regards the suppression of 
 the £1 notes must be altogether ineffectual, and while in that respect ineffectual, it must subject both 
 bankers and traders here to the most serious restraint and embarrassment. 
 
 That so long as the paper currencjy is convertible into gold on demand, your Petitioners see 
 nothing to apprehend on the score of over issue of £1 notes, and being fully convinced that a circulation 
 of small notes affords both facility and advantage to commerce 
 
 Your Petitioners humbly pray that your Honourable House will be pleased to take into 
 due consideration the premises here set forth, with a view to a Repeal of the Act of Parliament which 
 limits the circulation of £1 notes to the 5th April, 1829. 
 
 And your Petitioners will ever pray, &c. 
 
 Signed on behalf of the Chamber, 
 Newcastle, Apeil 16, 1828. ISAAC COOKSON, President. 
 
 The whole question of the issue or small notes was brought to a very abrupt 
 conclusion in the following manner. Upon applying to the Stamp Office for a 
 supply of stamps to meet their requirements till 1829, the country bankers were 
 informed, that no more stamps for one pound notes would be issued. " This step 
 was not only in direct violation of the law, but was a breach of faith on the part 
 of the Government." Mr. Burgess in Circular to Bankers No. 42, gives a full 
 account of the proceeding, and says, " The wanton and unprovoked breach of the 
 law committed by this Act of the Treasury against the country bank interest, 
 ought to have been a matter of grave investigation in Parliament." 
 
 An attempt was made to suppress the circulation of small notes in Scotland, 
 but it met with such strong opposition that it was abandoned. Some letters upon 
 
[lOl] 
 
 the subject appeared in an Edinburgh newspaper, signed "Malachi Malagrowther." 
 They were humorous, admirably written, and strongly supported the small note 
 circulation in Scotland. Sir Walter Scott was subsequently proved to be the 
 author of the letters. 
 
 On June 3rd, 1828, the Chancellor of the Exchequer brought forward amotion 
 " to restrain the Circulation of Scottish notes in England."* It gave an 
 opportunity for opening up the discussion of the whole question of small notes. 
 Numerous speakers joined in the debate. Mr. John Maberly, of Shirley Park, 
 M.P. for Abingdon, though a banker in Scotland, pointed out the inconvenience 
 that would arise to numerous people just over the border who freely used the 
 Scotch notes. Sir M. W. Ridley, member for Newcastle, and partner in the " Old 
 Bank," availed himself of the opportunity to refute the charges brought against 
 the country bankers respecting the panic of 1825-6. He said : — 
 
 " At that time there were 770 country bankers — 63 stopped payment, 23 had subsequently resumed 
 their business and paid 203. in the pound, 81 were making arrangements for payments of their debts, 
 and there was a great hope that every farthing would be paid. The country bankers who failed in 1826 
 
 had averaged a payment of 17s. 6d. in the pound. It was not 
 the use but the abuse of a paper currency that had led to the 
 misfortunes of the commercial world, and it was rash and 
 unstatesman-like to abandon a course altogether, which was 
 only injurious because it was abused. The Vice-President of 
 the Board of Trade had said that the panic was caused by the 
 country bankers coming to the Bank of England for gold. 
 Those who held the paper of the Bank of England were 
 entitled to gold, which they could not get. He for one only 
 requested the Bank of England to act to him as he acted to 
 his customers. In fact it had not acted so well — country 
 bankers had helped the Bank of England and taken their 
 notes. He spoke from personal experience, and he knew that 
 for many days he had received as a country banker not a 
 single guinea from the Bank of England, nothing but Bank 
 of England Notes. As long as the public were satisfied it 
 was of no consequence to the Country Banker whether he 
 paid in notes or gold." The motion of the Chancellor of the 
 Exchequer was eventually carried. 
 
 During the period under consideration, 
 reductions were made in the amount of interest 
 " Symptoms of the 3 Pr. ct.. Bediiced. pebmary. 1826." paid ou souic of tlic Govcmment Stocks. The 
 subjoined portrait from a collector's scrap book, shows the result. It might do 
 for a " Goschen " of the present day. 
 
 » Mr. G. W. Boase says :— " Although the Acts of 1775 and subsequeut dates prohibited the issue of small 
 notes in England, it did not forbid the circulation of Scotch notes there, and consequently these continued to 
 pass freely in the Northern Counties, and were found to be very convenient. This was now interfered with (for 
 uniformity sake) by the Act 8 George IV. c. 65, which passed in spite of numerous petitions against it from the 
 border district, which set forth that seven-eighths of all rents were usually paid in Scotch notes, and had been 
 80 for seventy years without loss." 
 
[102] 
 
 CHAPTER X. 
 
 . PROVINCIAL BANKING— 1830 to 1840. 
 
 Introduction to the North of England of Banking on the Joint Stock Principle — List 
 of New Banks — Changes in Bank Premises — Thomas Joplin — Portrait — His 
 Ancestry — His Writings — Views on the Currency Question — Opposition to them 
 — Joint Stock Banks founded in various towns — National Provincial Bank of 
 England formed by Joplin, assisted by George Fife Angas — Charter of the Bank 
 of England — Committee of Secrecy to report upon it — Evidence of Country 
 Bankers 
 
 THE great event of the period under consideration w^as the introduction to 
 the North of England of banks conducted on the joint stock principle. 
 Difficulties and impediments that had beset their formation were 
 removed, and similar establishments had been started in other parts of the 
 kingdom. The new banks showed a most satisfactory result to the investor 
 by the daily rise in the market price of their shares, so that the desire to become 
 a partner in such a lucrative business as banking appeared to be, soon spread to 
 the north, where the ground had been tilled and the seed sown ten years before 
 by Thomas Joplin. 
 
 The first bank in the district that was constituted on the new principle was the 
 Darlington District Banking Company, opened in 1831. Next came the " North 
 of England Joint Stock Bank " at Newcastle-upon-Tyne in 1832. A project was 
 started at Sunderland to form the " Wear Joint Stock Bank," but it never reached 
 maturity. Four years elapsed before another appeared, which brings us 
 to the memorable year of 1836, when quite a mania set in for founding every 
 conceivable business upon joint stock principles. Banking certainly had its share 
 of attention. The old firm of Messrs. Hutton, Other, & Co., of Richmond and 
 Leyburn, became the " Swaledale and Wensleydale Joint Stock Bank " ; and 
 Messrs. Chapman & Co., of Newcastle, converted their business into the 
 " Newcastle, Sunderland, North and South Shields Union Bank," incorporating 
 with it the Sunderland business of Sir William Chaytor, Frankland, & Co. The 
 
[103] 
 
 financiers of Newcastle-upon-Tyne issued a prospectus announcing the formation 
 of the " Northumberland and Durham District Bank " with a very large capital 
 and strong directorate. Some of the promoters successfully negotiated with 
 Messrs. Backhouse & Co. for the purchase of their Newcastle connection. The 
 amalgamation was not to the liking of a section of the originators, who 
 immediately issued a prospectus of the " Newcastle Joint Stock Bank." 
 So great was the excitement in the town that Messrs. Lambton & Co. were 
 nearly drawn into the whirlpool, but the timely protest of a very important 
 client saved them. The merchants on the banks of the Wear were provided 
 for by the formation of the " Sunderland Joint Stock Bank." During 
 this year (1836) the National Provincial Bank of England acquired the 
 business of Messrs. Skinner & Co. at Stockton. In 1838 the "Stockton and 
 Durham County Bank " was formed, and this closes the list of new banks for that 
 period. There is one other important change to chronicle, namely, the transfer 
 in 1839 of the "Old Bank," Newcastle-upon-Tyne (Sir M. W. Ridley and 
 Partners), to the recently formed Northumberland and Durham District Bank. 
 About the same period the tragic events of arson and murder, that occurred in the 
 Savings' Bank of Newcastle, created an excitement that spread far beyond the 
 scene of the occurrence, and took some time to allay. 
 
 Several alterations in bank premises were made. The Bank of England left 
 their birth-place in the Postern for Upper Dean Street, which was subsequently 
 given the more aristocratic name of Grey Street. The District Bank commenced 
 business in the offices previously occupied by Messrs. Backhouse & Co., at the 
 south-east corner of Grey Street, and subsequently moved to premises adjoining 
 the Bank of England, which, upon obtaining the business of Sir M. W. 
 Ridley & Co., they vacated, removing the staffs from both establishments to the 
 commodious premises now occupied by Messrs. Lambton & Co. No decade in the 
 history of north-country banking witnessed such a revolution in banks and 
 banking as that of 1830 to 1840. No particular panic occurred, and all the 
 firms appear to have obtained a fair amount of support. 
 
 It often happens that great inventors participate to a very small degree in 
 the honour and emoluments arising from their inventions. It is very remarkable 
 that the man who invented (if we may so apply the expression) and promulgated 
 the principles of joint stock banking, does not appear to have shared in the direct 
 formation of any one of the numerous joint stock banks that were formed in his 
 native town and places adjacent. The old proverb that "a prophet hath no 
 honour in his own country " may somewhat account for it. We cannot find a 
 more suitable place to pause and review the early life and subsequent work of 
 
[i04j 
 
 Northumberland's most indomitable advocate for banks upon the joint stock 
 principle — Thomas Joplin. 
 
 In the " History of the 
 Baptist Churches," by Douglas, 
 we are informed that the Joplin 
 family were amongst the earliest 
 adherents of that body at their 
 settlement on the banks of the 
 Derwent. Surtees mentions an 
 Andrew Joplin as a freeholder 
 of Satley in 1687. This is the 
 ancestor of the family. The 
 grandfather of the subject of this 
 sketch was Caleb Joplin of Satley, 
 born about 1730. He had one 
 son, Thomas, and a daughter, who 
 married John Angas, of Dotland. 
 She became the mother of Caleb 
 Angas, the coach-builder of New- 
 castle, and grandmother of George 
 Fife Angas, the pioneer of South 
 Australia. 
 
 Thomas Joplin (only son of 
 Caleb of Satley) was of New- 
 castle, and had a banking account 
 ^f^'^'"^ 'i^J^^^-^f^ with James Davison-Bland & Co., 
 ^^"^ 1788 to 1790. The nature of 
 the transactions pointed to his 
 being in the timber trade. He 
 died at Brancepeth in 1808. He 
 had a family of three sons, William, Thomas, and Charles, and a 
 daughter who died unmarried. The third son died young, but William and 
 Thomas succeeded to the timber business. The Newcastle Chronicle of May 
 27th, 1815, announces: — "Spey Timber. W. & T. Joplin & Co. have just 
 imported a large supply of this kind of timber, etc., etc. Egypt* Raff Yard, 
 Newcastle-upon-Tyne." 
 
 ♦ Egypt — Thus named in 1796, " when so great had been the importation of grain into Newcastle that no ware- 
 house room could be obtained for storing it, and in consequence, temporary wooden buildings were erected in a 
 fleld adjoining the New Road, behind Sandgate, for 120,000 bushels." 
 
[^o^j 
 
 Soon afterwards the timber business appears to have passed into other hands, 
 Wilham, the senior partner, went to America, and Thomas devoted the whole of 
 his time to matters regarding financial currency. During the' years 1819 to 1822 
 great agricultural distress prevailed, wheat having fallen from 80/- to 40,'- per 
 quarter. Mr. Joplin wrote a great deal upon the question, maintaining that a 
 restriction in the currency was the cause of the agricultural depression. One of 
 his works published at this time was " Outlines of a System of Political Economy." 
 By the very few who remember him personally, he is described as of com- 
 manding presence, standing about 6ft. 2in., usually dressed in a blue coat with 
 brass buttons, knee breeches, and top boots. Reference has previously 
 been made {^page 88) to the circumstances that first led him to contem- 
 plate the joint stock system, and the steps that he took in 1822 to 
 establish a bank in Newcastle. Failing in this attempt he journeyed to London, 
 where, by the letters he contributed to the papers, and the spread of his pamphlets, 
 he soon became intimately associated with the leading financiers of the day. He 
 again returned to the north, and advocated the formation of a bank. Subsequently, 
 
 " A meeting was held in the City of Durham at which the late Lord Barrington presided, with a view 
 to promote such an undertaking. The country gentlemen were greatly in its favour, but it was found 
 that, without a degree of encouragement from the Government, which Ministers were not willing to 
 afford, such a bank could not be formed, for the parties willing to form a company required a charter 
 to limit their liability to the amount of the capital subscribed, and the Government declined promising 
 them a charter on such principles." 
 
 In 1823, Mr. Joplin was in\ated by Mr. Attwood, of Whitehaven, to assist 
 in forming the Provincial Bank of Ireland, which was successfully accomplished. 
 
 ♦' This was, strictly speaking, the first Joint Stock Bank formed, but it was not the first registered; the 
 directors applied for, and obtained a Public Banking Act for Ireland, upon which a respectable private 
 bank in Belfast converted itself into a public company, and was the first to legally avail itself of the 
 privilege obtained." 
 
 In the notorious panic of 1825, Mr. Joplin took a view of the situation 
 directly opposed to the press, the Ministry, and the Directors of the Bank of 
 England. They all by their writings and actions advocated a restriction of the 
 currency as a cure for the disease. Joplin declared that an increase of currency 
 almost to any amount, was the only course to be adopted to stay the panic. 
 Suddenly the Ministry and the Directors veered round to his opinion. This he 
 shows in his writings, but he bitterly complains that no acknowledgment was ever 
 made of the adoption of his suggestions. 
 
 The following shows the increase of the circulation : — 
 
 1825, November 19 .. .. .. 17,594,301 
 
 December 3 
 
 17 
 
 24 
 
 1826, February 22 
 
 17,477,294 
 23,942,827 
 25,709,425 
 24,399,080 
 
. [^ 
 
 Mr. Joplin became Secretary to the Provincial Bank of Ireland, but he soon 
 relinquished the appointment, returned to England, and promoted the establishment 
 of Joint Stock Banks in many parts of the country. At Whitehaven and 
 Workington he was successful. Again he tried to form a bank in Northumberland, 
 but with the old result ; 
 
 " The influence of the private banks preventing commercial men from coming forward, and though the 
 country gentlemen were very desirous of the formation of a bank, they would not move without a 
 charter to limit their liability, which could not be obtained." 
 
 His exertions were then directed to Huddersfield, Bradford, and Norwich. At 
 each of these towns banks were formed — but little pecuniary reward seems to have 
 personally attended his labours. He endeavoured to establish himself as broker 
 to the banks thus formed, but this he could not carry out. He next attempted the 
 formation of a large London Company. Of this event the biographer of George 
 Fife Angas says : — 
 
 "Prom the early age of eighteen, when he established in his father's factory (Caleb Angas, Coach 
 Builder) a Savings' Bank and Provident Fund for working men, George Angas had shown strong 
 proclivities towards banking and kindred institutions. In 1828 his cousin, Mr. Thomas Joplin, who 
 had made banks and banking a speciality and had written various pamphlets on the subject, submitted 
 to him a scheme for associating a number of provincial banks together, with a certain amount of 
 local government, but under the general management of a central establishment in London, such 
 institution to be called ' The National Provincial Bank of England.' Singular as it may appear, 
 the probable expense of making the experiment was estimated at the modest sum of £300, which 
 Mr. Angas was asked to advance, and in the event of success ensuing, he was to become a Director. 
 At first he did not respond, but on a renewal of the application in the following year, he promised to 
 find the amount required for necessary expenses, to take a certain number of shares, and to become a 
 Director. The time, however, was not then ripe, owing to the disturbed state of the country, and the 
 political changes consequent upon the passing of the Keform Bill. It was not, therefore, until 
 
 April, 1833, that the scheme was revived It was not to be expected that a large 
 
 undertaking like this could be started without difficulty, and thoughout this year we find constant 
 notes in the diary, referring to frequent, protracted, and somewhat stormy meetings, and had it not 
 been for the sake of his cousin, Mr. Joplin, he would have retired from the direction." 
 
 At last all difficulties were overcome, and on August 4th, 1833, Mr. Angas 
 makes in his diary the following very important entry : — 
 
 " Last night, after some difiiculty and discussion, I succeeded in getting Mr. Joplin's name placed in 
 the Deed of Settlement for the new National Bank as one of the Directors, and as the originator of 
 the Bank." 
 
 The biographer adds : — 
 
 " This was perfectly true, but it was an unusual instance of disinterestedness, as the scheme would 
 probably never have been accomplished but for the persistent labours of Mr. Angas, and for his supply 
 of the sinews of war." 
 
[io7] 
 
 The position thus gained upon the board of the new bank was not retained 
 long. Mr. Joplin was a man of distinct individuality. When the question of the 
 establishment of branches came to be considered, his plan not being acceptable 
 to the majority of the directors, and other differences arising, he withdrew from 
 the undertaking upon being recouped the expenses he had incurred. 
 
 During 1836, the policy of the joint stock banks was questioned by the 
 Government. Mr. Joplin defended the banks in a series of very able articles 
 published in the Economist.^ 
 
 His next proposition was a gigantic plan for converting all the private banks 
 into one huge Joint Stock Company, but the difficulties proved insurmountable. 
 Over these various schemes Mr. Joplin expended considerable sums of money and 
 greatly impaired his health. 
 
 "He always indeed anticipated that the Joint Stock Banks would acknowledge him as the founder of 
 the system and treat him accordingly. But when they became popular, his efforts were unknown to 
 the majority of persons connected with them. The small beginnings in these cases are the most 
 difficult, and the preliminary steps do not present themselves to notice after they have attained the 
 purpose for which they were commenced. They appear to be small and insignificant, and unworthy 
 of the mighty results to which they have given rise, though these comparatively mean exertions may 
 have laid the foundation of the whole superstructure." 
 
 During this time, Mr. Joplin was a most voluminous writer upon all questions 
 of political economy. A list of his works will be found in the account of him 
 given in the "Dictionary of National Biography." In spite of such a busy life, 
 he found time to forward many philanthropic and benevolent institutions, indeed 
 his later years were entirely devoted to such objects. About 1843 he went for a 
 visit to Grafenberg for the water treatment under Preissnitz the founder of the 
 system, and derived much benefit. In 1846 his health again necessitated a visit 
 to the continent. On April 12th, 1847, his sudden death is announced : — 
 
 " Died at Bomischdorf, Silesia, Mr. Thomas Joplin, the founder of Joint Stock Banking, and author 
 of numerous works on the currency. Mr. Joplin was a native of Newcastle, and was for some years in 
 one of the banks of that town." (I have not met with any confirmation of this last statement.) 
 
 Mr. Joplin left a widow but no family. A cousin of his is now residing at 
 Chelsea, and to him we are indebted for the portrait given. 
 
 One of the numerous suggestions that were made to prevent the forgery of 
 bank notes, was the repetition of a well-known face round the margin. A specimen 
 of this character is given in the Gilbart Prize Essay by Granville Sharp, and may 
 
 ♦Joplin was the founder of the Economist Newspaper, and for some time forwarded each Member of 
 Parliament a copy of the paper. 
 
[ io8 ] 
 
 be familiar to many ; but it is not generally known that the portrait selected was 
 that of Thomas Joplin. 
 
 In 1832, the Charter of the Bank of England came before the House of 
 Commons. On May 22nd, Lord Althorp moved for a Committee of Secrecy to 
 report upon the expediency of renewing the bank privileges. This step 
 immediately brought the country bankers together for united action. They held 
 a meeting at Henderson's Hotel, Bridge Street, Blackfriars, when representatives 
 were present from eighteen firms. The meeting was adjourned to May 30th, 
 when twenty-nine bankers assembled from all parts of England, Mr. James 
 Backhouse of Darlington representing this district. Mr. Henry Burgess was 
 appointed Secretary. Various resolutions were passed, of which the following 
 was the most important : — ■ 
 
 " That a Petition be presented to the House of Commons, setting forth the injustice which Country 
 Bankers have sustained by the erroneous assumptions of the Government on former occasions, and 
 praying that they may be examined before the Committee on the Bank Charter." 
 
 The Committee appointed by the Government were : — Lord Althorp, Sir R. 
 Peel, Lord J. Russell, Mr. Goulburn, Sir J. Graham, Mr. Herries, Mr. P. Thompson, 
 Colonel Maberly, Sir H. Parnell, Mr. Vernon Smith, Mr. John Smith, Mr. Roberts, 
 Sir M. W. Ridley, Mr. Attwood, Sir John Newport, Mr. A. Baring, Mr. Irving, Mr. 
 Warburton, Sir G, Phillips, Lord Morpeth, Mr. Morrison, Mr. Heywood, Lord 
 
[109] 
 
 Ebrington, Sir J. Wrottesley, Mr. Cavendish, Mr. Wood, Mr. B. Carter, Mr. Strutt, 
 and Mr. Stanley. 
 
 The prayer of the country bankers was duly attended to, and several of 
 their body selected to give evidence before the Committee, Mr. Backhouse, of 
 Darlington, being one of the number. The Courier of June 28th says: — "We 
 understand that the country bankers at present likely to be examined by the 
 Committee on the Bank Charter are Mr. Rickford, of Aylesbury, M.P., and Mr. 
 Backhouse, of Newcastle." 
 
 The Committee of the country bankers met again on July 25th, and resolved : — 
 
 " That their Chairman should write to Lord Althorp, urging the claims of Country Bankers to have 
 their interests duly considered by the Secret Committee, on the ground of justice, as well as on that of 
 the letter from the Treasury, under the Duke of Wellington's administration, to Sir John Wrottesley, 
 implying a sort of pledge from the Government that those interests should be duly regarded in any 
 negotiation, or arrangement, concerning the Renewal of the Charter of the Bank of England." 
 
 Various meetings of the Provincial Bankers were held during the time the 
 Bank Charter was under consideration. Full and interesting accounts of them 
 will be found in the " Circular to Bankers" of that day. 
 
 On July 24th, 1833, a meeting was held at Radley's Hotel. A few of the 
 resolutions passed will best explain its nature ; — 
 
 Moved, etc., etc., " That the thanks of this meeting are also due to the Committee of Country Bankers 
 for their efficient exertions, in bringing to a successful issue the opposition to the plan lately brought 
 forward by the Government, for the injury, if not for the annihilation of Country Banking Establish- 
 ments . . . That the satisfactory result of those exertions whereby the attention of members of the 
 legislature was awakened to the public benefits arising from Country Banks of Issue, proves the 
 
 necessity of continued preparation for defence, and the great value of timely co-operation 
 
 That a permanent Association of Country Bankers in England and Wales be now formed, with a 
 Committee and Secretary, for the purpose of watching over the just rights and privileges of Country 
 Bankers, and of protecting the important interests connected with their system of Banking and 
 Currency. . . • That to sustain the expenses which may arise from this Institution, a subscription 
 of £1 Is. be annually paid by each Banking Firm." 
 
 We may presume that the association was numerically large, as 6^6 
 banking firms took out licenses for that year. 
 
 The evidence taken before the Committee of the House of Commons was 
 most voluminous. Perhaps the most valuable of Thomas Joplin's publications 
 was " A Digest of the Evidence on the Bank Charter taken before the Committee 
 of 1832." 
 
 In a few years the banking laws again came under the consideration of 
 Parliament. During the session of 1836, another Secret Committee was appointed 
 to enquire into the acts regarding joint stock banks. 
 
[no] 
 
 CHAPTER XI. 
 
 PROVINCIAL BANKING— 1840 to 1894. 
 
 Note Issue of Messrs. Lambton withdrawn — Bank of England divided into " Issue " 
 and "Banking" — Quotations from the Act of Parhament — It fixes the Note 
 Issue of all Banks — Particulars of Note Issue in the North — Failure of Northern 
 Joint Stock Banks — Mr, Headlam introduces a Bill to limit the responsibility of 
 Shareholders in them — Extracts from the Debate — Bill brought in by Mr. 
 Apsley Pellatt to legalise " Crossing " of Cheques — Suspension of the " District " 
 Bank — Woods & Co. open — Dale, Miller, & Co. formed — National Provincial 
 Bank come to Newcastle — North Eastern Bank announced — Bankers' Clearing 
 Association formed in Newcastle — Early mode of " Clearing " — Present method 
 — Suggestion for its improvement — Association of Country Bankers re-constituted 
 — York City and County Bank absorb " Darlington District " and enter 
 Newcastle — Simpson, Chapman, & Co. join the York Union Banking Company. 
 
 IN September of 1840, a note issue that had been familiar to the Newcastle 
 district for upwards of half a century was withdrawn from circulation, 
 Messrs. Lambton & Co. having made arrangements to issue only the paper 
 of the Bank of England. 
 
 About this time several alterations occurred in banking premises. The 
 District Bank having vacated their offices in the middle of Grey Street, they 
 were purchased in August 1841 by the Governor and Company of the Bank of 
 England, and added to their adjoining buildings, the whole forming the present 
 handsome block as now occupied by them. Messrs. Backhouse's old establishment 
 at the south-east corner of Grey Street was re-built to harmonise with the 
 surrounding architecture. The premises of the Union Bank in St. Nicholas' Square 
 were pulled down, and new offices erected. The proprietors of the same bank, 
 having purchased the buildings at the south-west corner of Pilgrim and Mosley 
 Streets (for so many years occupied by the Old Bank), " caused the same to be 
 partially cased with stone." 
 
 The year 1844 saw the passing of an Act of Parliament, that made 
 radical changes in the banking customs of the country. By it the Bank of England 
 
[III] 
 
 was divided into two distinct departments, viz., "Issue" and "Banking." An 
 interesting account of the working of the Bank of England when so divided, 
 was written by Mr. Thomson Hankey, entitled, " The Principles of Banking, its 
 utility and economy, with remarks on the Working and Management of the Bank 
 of England." The fourth edition published in 1887 is ably revised "as regards the 
 working and management of the Bank," by Mr. Clifford Wigram, one of the 
 directors. 
 
 The part of the Act that most affected the country bankers was that relating 
 to the note circulation. Virtually it rang the death-knell of all provincial bank 
 notes and established the Bank of England as the 07ie Bank of Issue. On the 
 justice and expediency of the Act, great diversity of opinion existed. Lawson in 
 his " History of Banking " says : — 
 
 " The 7 and 8 Vic, cap. 32 was, without doubt, one of the most singular, and in the opinion of many, 
 the most ill-judged legislative regulations in reference to country bank notes that has ever been passed. 
 It is called, ' An Act to regulate the Issue of Bank Notes, and for giving to the Governor and Company 
 of the Bank of England certain privileges for a limited period.' The following are some of the clauses 
 of the Act : — ' That, from and after the passing of this Act, no person other than a banker, who on the 
 sixth day of May, 1844, was lawfully issuing his own bank notes, shall make or issue bank notes in 
 any part of the United Kingdom.' 
 
 Section 12 prohibits bankers who may cease to issue notes, thereafter to issue any such notes. 
 
 Section l.S provides that existing banks of issue may continue, under certain limitations, to issue. 
 
 Section 14. — Where two or more banks unite in one, such united banks may issue notes subject 
 to the regulations of this Act. 
 
 Section 18 enacts that every banker shall render to the Commissioner an account of the amount 
 of the notes in circulation on such day as may be fixed by the Commissioners of Stamps and Taxes. 
 
 Section 19. — The mode of ascertaining the average amount of bank notes of each banker in 
 circulation during the first four weeks after 10th October, 1844. 
 
 Section 21 provides that all bankers in England and Wales shall, on the Ist of January in each 
 year, make a return to the Commissioners of the residence and occupation of every partner, whether 
 joint stock or private co-partnership. 
 
 Section 22 enacts that every banker issuing notes shall take out a separate license for every 
 place at which he issues notes or bills." 
 
 By the provisions of the bill if any country banker were to cease to issue his 
 own paper, the Bank of England should be entitled to " issue additional notes to 
 the amount of two-thirds of the authorised issue of the said banker." Mr. Lawson 
 adds : — 
 
 " We can well understand the placing a wholesome restraint upon the issuers of bank notes, and calling 
 upon them to prove their ability to pay them ; but why an aggregate amount of notes circulating 
 through a country during four weeks after the 10th October, 1843, should be the maximum amount 
 
[112] 
 
 to be circulated in all time to come, we are really at a loss to imagine. . . . If we may judge from 
 the proceedings of the Government in the month of October, 1847, when they, by a special letter, 
 authorised the Bank of England to extend their issue beyond the amount fixed by law, the principle upon 
 which the limitation of bank notes had been founded was proved to have been unsound." 
 
 The issue of notes allowed by the Acts is as follows : — 
 
 I Bank of England 
 196 English Private Banks 
 Sy English Joint Stock Banks 
 
 14,000,000 
 
 4,999,444 
 3,418,277 
 
 22,417,721 
 
 The note issue thus allowed to the banks within the district that we are 
 
 considering was the following : — 
 
 Darlington Bank, Backhouse & Co. 
 
 Frankland and Wilkinson, Whitby 
 
 East Eiding Bank, Bower & Co. . . 
 
 Richmond Bank, Roper and Priestman 
 
 Scarborough Old Bank, Woodall, Hebden, & Co. 
 
 Whitby Old Bank, Simpson, Chapman, & Co. 
 
 Darlington District Bank 
 
 Newcastle, Shields, and Sunderland Union Joint Stock Bank 
 
 Stockton and Durham County Bank 
 
 Swaledale and Wensleydale Joint Stock Bank, Richmond 
 
 To January, 1894, ^^^ following issues have lapsed : — 
 
 Frankland and Wilkinson, transferred to York City 
 Whitby Old Bank, transferred to York Union 
 Darlington District Bank, amalgamated with York City 
 Newcastle, Shields, and Sunderland Union Joint Stock Bank 
 Stockton and Durham County Bank 
 
 86,218 
 
 2,076 
 
 53,392 
 
 6,889 
 
 24,813 
 
 14,253 
 
 26,134 
 
 84,130 
 
 8,290 
 
 54,372 
 
 360,572 
 
 2,076 
 
 14,258 
 
 26,134 
 
 84,130 
 
 8,290 
 
 134,888 
 225,684 
 
 Of the five issuing banks left in the present day, four belong to Yorkshire and 
 one to Durham, Northumberland having ceased to have a note issue. 
 
 From "A return of the Quarterly average amount of Promissory Notes 
 payable to Bearer on Demand in Circulation by Private Banks in each County in 
 England and Wales from the i8th September, 1841, to the 4th December, 1847," 
 the following record is obtained : — 
 
 12th Nov., 14th Oct., 7th Deo., 31st Jan., 3rd Jan., 4th Dec, 
 1842. 1843. 1844. 1846. 1847. 1847. 
 
 Durham and Northumberland 73,499 66,107 76,612 80,910 82,6^8 69,030 
 
[113] 
 
 A return of the Average Circulation of Branch Bank of England notes in 
 each year from 1842 to 1847 inclusive, may prove interesting : — 
 
 BANK OF ENGLAND.— BRANCH CIRCULATION. 
 
 An Account of the Average Circulation of Branch Bank Notes in 1832, and in each Year from 1842 
 
 to 1847 inclusive ; distinguishing the Amount from each Branch Bank. 
 
 
 1832. 
 
 1842. 
 
 1843. 
 
 1844. 
 
 1845. 
 
 1846. 
 
 1847. 
 
 Gloucester 
 
 Manchester 
 
 Swansea 
 
 Birmingham .... 
 
 Liverpool 
 
 Bristol 
 
 £ 
 
 56,068 
 
 1,315,296 
 
 49,428 
 
 403,622 
 
 377,144 
 
 113,320 
 
 199,005 
 
 51,146 
 
 59,272 
 
 30,245 
 
 3*1*154 
 
 £ 
 
 278,239 
 
 1,604,054 
 
 84,235 
 
 555,496 
 
 777,838 
 
 168,407 
 
 297,082 
 
 498,704 
 
 80,486 
 
 19,369 
 
 254,623 
 
 267,424 
 
 "eei 
 
 £ 
 
 121,917 
 
 1,780,994 
 
 83,681 
 
 605,095 
 
 919,047 
 
 252,744 
 
 325,774 
 
 543,287 
 
 89,137 
 
 55,738 
 
 291,995 
 
 867,377 
 
 '"610 
 
 £ 
 
 103,731 
 
 2,154,502 
 
 96,113 
 
 600,900 
 
 1,241,467 
 
 324,696 
 
 322,372 
 
 598,290 
 
 98,826 
 
 65,980 
 
 364,817 
 
 417,521 
 
 127,205 
 
 564 
 
 £ 
 
 90,897 
 
 2,398,540 
 
 99,150 
 
 592,107 
 
 1,367,365 
 
 436,426 
 
 403,292 
 
 666,086 
 
 124,523 
 
 30,752 
 
 851,402 
 
 383,557 
 
 183,507 
 
 £ 
 
 83,290 
 
 2,323,185 
 
 106,869 
 
 608,589 
 
 1,129,299 
 
 446,027 
 
 396,204 
 
 695,130 
 
 122,582 
 
 12,290 
 
 382,058 
 
 343,203 
 
 174,910 
 
 £ 
 
 71,975 
 
 2,129,062 
 
 106,634 
 
 658,231 
 
 1,118,691 
 
 421 500 
 
 Leeds 
 
 369,595 
 742,628 
 112,039 
 10,553 
 811,480 
 317,332 
 168,020 
 
 Newcastle 
 
 Hull 
 
 Norwich 
 
 Plymouth 
 
 Portsmouth 
 
 Leicester 
 
 ♦Exeter 
 
 
 
 
 2,695,700 
 
 4,886,618 
 
 5,437,396 
 
 6,516,984 
 
 7,127,604 
 
 6,773,636 
 
 6,527,740 
 
 ♦ N.B.— This Branch was removed to Plymouth, 1st May, 1843. 
 
 In 1846 and 1847 sundry changes took place. The private firm of Clark, 
 Richardson, & Co., of Whitby, transferred their business to the York City and 
 County Bank. The Stockton and Durham County Bank handed their establish- 
 ment over to the National Provincial. In January, 1846, the Newcastle Joint 
 Stock Bank came to an untimely end. In March, 1847, the North of England Joint 
 Stock Bank (whose head office was in Newcastle) did the same. In October the 
 Newcastle, Sunderland, and North and South Shields Union Bank suspended 
 payment, and a few years later, the Sunderland Joint Stock Bank followed suit. 
 The Northumberland and Durham District Bank was hard pressed, but the Bank 
 of England, the foe that the merchants and country bankers so much feared in 
 1827, now proved the salvation of the commercial credit of the North of England, 
 as the timely aid afforded by Mr. Grote, the agent of the Newcastle Branch, 
 allayed the panic. 
 
 At this time an immense amount of money was withdrawn from circulation. 
 One writer says "that the failure of the three Joint Stock Banks caused the 
 withdrawal of four millions of money." Mr. Mewburn in his diary writes : — 
 
 " I learn from a banker that the late panic was most injurious to country bankers, especially in the 
 North, even to those upon whom there was no apparent run ; for their circulation was reduced more 
 than one-third during the panic. Timid men who did not like going to the banks for notes or gold in 
 lieu of those issued, paid them to their bankers first, and a day or two afterwards asked for gold or 
 notes (Bank of England), under various pretexts ; really frightened fellows demanded the gold or notes 
 
[114] 
 
 instanter, and kept their money secreted in their houses until they could get securities. In all the 
 panics I have known, I think the late produced the greatest difficulty in obtaining money on securities, 
 especially on bonds even of the most unexceptional kind." 
 
 The inconvenience and distress caused by the failures was most terrible, 
 alike to the clients of the banks, to the depositors, and to the enormous 
 number of shareholders whose liability being imlimited, were subject to " call " 
 upon "call"; until many found rest in the Bankruptcy Court, and some were 
 driven to commit suicide. Many tradesmen determined to return to the 
 customs of pre-banking days — to make the iron safe in their own warehouse their 
 Banker. 
 
 One of the results of these numerous failures was the contemplation of a 
 limited liability for investors in bank shares. In 1849 Thomas Emerson Headlam, 
 M.P. for Newcastle, introduced a bill, the object of which was to limit the 
 responsibility of shareholders in joint stock banks. He delivered an able speech 
 on the subject, on May 8th, which was subsequently published in pamphlet form, 
 together with an account of the alterations proposed. He stated that the terrible 
 sufferings caused by the failure of banks in the district which he represented led 
 him to give his attention to the subject. Many of Mr. Headlam's remarks are so 
 striking that I quote freely from his speech. He says : — 
 
 " When banks are well conducted, the result is that not only the surplus capital of the wealthy, not 
 only the gains of the middle classes, but also the savings of the poor, large in the aggregate though 
 small in the individual amount, are collected into one fund, which is again sent forth to give life and 
 energy to new trade and industry, and to call forth the natural resources of the country. When a 
 failure of a joint stock bank occurs, the first question asked is, ' Will the public be paid ? ' The answer 
 probably is, ' That though there will be great pressure upon the shareholders, sooner or later the 
 creditors will be paid,' little regard being given to the unfortunate shareholder. . . . The social 
 evils are perhaps still greater. The poorer part of the shareholders, who have invested their whole 
 fortune in the purchase of shares, find themselves suddenly ruined by the loss of their investment. 
 The middle class not only lose the value of their shards, but find themselves suddenly liable to sums, 
 the magnitude of which is to them almost unintelligible. The wealthier portion are selected as the 
 first victims, and however small their interest may have been in the concern, they are called upon to 
 pay sums which no private fortune can meet. The courts of bankruptcy and insolvency then become 
 wonderfully active. Others have not strength of mind to contend against such calamities. It is 
 within my own knowledge that suicide and lunacy have been amongst the consequences of such 
 failures." 
 
 He points out that many are deluded by the prospectus announcing limited 
 responsibility, and shows that " the law distinctly prohibits any such limitation." 
 Mr. Headlam quotes some very strong cases of hardship that have resulted from 
 the state of the law : — 
 
 " A shareholder died, his executors received a dividend from a bank share ; they never intended to 
 make themselves shareholders, and were not on the register. The bank failed, and, to their utter 
 astonishment, they were held liable to the extent of their private fortunes. ... A single woman 
 
[^ 
 
 had some shares left her ; she never received any dividends upon them in consequence of there being 
 some arrears due for calls. Some years afterwards she married. Subsequently the husband was made 
 liable, and judgment obtained against him." 
 
 The speaker further shows that with the law in this state no substantial 
 people will become shareholders : — 
 
 " The tendency of the law, therefore, is gradually to place the whole control of the banking system of 
 this country in a speculating class of men. It is impossible to conceive a law more likely to give such 
 a character to a trade than that which imposes this unreasonable liability upon the shareholders in a 
 joint stock bank. ... If losses are made, the directorate consider the risk of re-establishing the 
 bank too great, and allow things to drift to their ruin, while they quietly dispose of their share, which, if 
 they are fortunate enough to do three years prior to the crash that must eventually come, their 
 responsibility comparatively ceases." 
 
 The honourable member proceeds : — 
 
 " The storm that raged in the commercial world during the year 1825 almost swept away the private 
 banks, while the Bank of England stood firm. Public opinion, struck with this fact, demanded that 
 the law should be altered so that banks might be formed similar in their constitution to the constitution 
 of the Bank of England. The result was the statute of 7 Geo. IV., cap. 46, which law regulates the joint 
 stock banks to the present day. . . . The Bank stipulated that these new establishments should 
 not be within sixty-five miles of London, that all partners in them should be individually liable, and 
 they made other conditions for the purpose of weakening the strength of the new banks. It was not, as 
 many men suppose, a prudent precaution taken for the public by the Legislature. On the contrary, it 
 was forced upon the Government against its own views by the Bank of England stipulating for its own 
 interests. The statesmen who sought to obtain for the public this principle of limited liability were 
 the late Lord Liverpool and Mr. Huskisson — men whose authority is of no small weight on 
 such questions. The late Lord Ashburton was of the same opinion. He says : — ' If the Right 
 Honourable Gentleman (Mr. Huskisson) had allowed persons to combine together on condition 
 of depositing their capital and of limiting their responsibility to their capital, he would have 
 found plenty of individuals ready to engage in such associations. Landed gentlemen would put 
 down their five, their ten, or their twenty thousand pounds as might be convenient, and banks would 
 be formed all over the country on the best principles.' To which Mr. Huskisson replied that ' he 
 allowed that it would be a great improvement if under a proper system chartered banks were 
 established with only a limited liability. But the bank objected to the extension of this limited 
 liability, it would no doubt induce many persons of great credit and fortune to invest their money in 
 shares in such banks.' When the Bank Charter was renewed in 1833, Lord Althorp made an attempt 
 to get the law altered but he was unsuccessful. Since then the Bank of England had given up 
 many of the conditions it stipulated for, it is now strong in public opinion, it is beyond the fear of 
 competition, it does not stand in need of enactments made for the purpose of weakening rival 
 establishments, it has discovered that its interest is identical with that of the public. I have 
 therefore good reason to hope that no opposition will arise from the Bank of England, but that it will 
 adopt with respect to this last remaining condition, the same liberal policy that it has pursued with 
 respect to the other conditions for which it stipulated in 1826 and which it has subsequently given up." 
 
 Regarding the liability of holding a share in a joint stock bank, Mr. Leatham 
 in his "Letters on the Currency, addressed to Charles Wood, Esq., M.P.," says : — 
 
 " I am informed by a gentleman, ' he would not accept the gift of one share with £5,000 added ; ' and 
 on conversing with aaiother gentleman high in the monied world in London, he said, * I would not 
 
[^ 
 
 be a holder of one share in a joint stock bank, if £20,000 were offered with it, as they are now 
 constituted.' I name these facts to get the law of construction improved." 
 
 Mr. Headlam's efforts were not immediately successful, but the seed sown 
 was not lost, and eventually the law of limited liability was placed on its present 
 footing in 1862. 
 
 In 1852 an idea of the gold circulation is gained from an extract from the 
 " Larchfield Diary." " I observe gold is extending in the country ; * bankers pay 
 more frequently than they did in that coin. This is inconvenient to the receiver, 
 for he must be prepared with his scales to weigh sovereigns as in olden times when 
 every man had his scales and weights." 
 
 In 1856, a useful Bill (which subsequently became law) was brought in by Mr. 
 Apsley Pellatt, member for Southwark, to legalise the "crossing" of cheques. This 
 had been the custom for some time, but a recent decision of Lord Campbell's had 
 thrown doubt upon a banker's right to decline to pay a cheque to bearer, although 
 it was crossed. On introducing a second reading of the Bill, Mr. Pellatt said " he 
 believed that the system of crossed cheques arose in this way : — ■ 
 
 " A gang of swindlers paid into a bank some bills due on a certain day at a certain house. When the 
 banker's clerk presented himself, they seized him, tied him up, took away all his bills, went round 
 with them to the different bankers, and then left the town with their booty. The system of crossed 
 cheques was adopted in order to prevent the repetition of such wholesale robbery." 
 
 Great as had been the havoc amongst the joint stock banks of the north, the 
 atmosphere was not cleared. In 1855, the "Commercial," a comparatively small 
 bank, had to close its doors, but the culmination of the storm came in 1857, when 
 the Northumberland and Durham District Bank failed for an enormous amount, 
 and by the misery and distress it caused, eclipsed all previous bank failures in the 
 North of England. Of the joint stock banks so hastily formed around Newcastle, 
 the "District" was the largest. It had incorporated the Newcastle branch of 
 Backhouse & Co., and the entire business of Sir M. W. Ridley & Co. 
 
 It was the last joint stock to survive, and when it exploded, Newcastle was 
 again left (with the exception of the Bank of England) in the hands of the private 
 bankers, who duly availed themselves of the situation. From the ashes of the 
 departed " Union," Phoenix-like, arose the private bank of Messrs. Woods & Co., 
 who retain their position to the present day. Similarly from the District 'Bank, 
 arose the firm of Hawks, Grey, Priestman, & Co., but they soon dissolved their 
 establishment. Messrs. Lambton & Co. removed from Dean Street to the spacious 
 premises in Grey Street (originally occupied by the District), where they have ever 
 
 * The increase of the gold circulation was no doubt attributable to the recently obtained supplies from 
 California. 
 
[iiTJ 
 
 since been located. Two years later (1859) a new private bank was formed. 
 Mr. Robert Spence, who had had a long experience of banking, gathered round him 
 three other gentlemen, all members of well-known commercial families. Unitedly 
 they formed the firm of Hodgkin, Barnett, Pease, & Spence. They are the 
 youngest of the Newcastle private banks, and may be, judging from the signs of 
 the times, the last ever formed in Newcastle. 
 
 Confidence was so shaken in the joint stock banks, that it was many years 
 before another could be firmly established. Several feeble attempts were made — 
 in 1862, the " London and Northern " ; in 1864, the " London Bank of Scotland " ; 
 and in 1865, the "Tyne Exchange." But other enterprises were more successful. 
 Mr. John B. Dale (who had been a partner in Hawks, Grey, Priestman, & Co.), 
 joined other gentlemen, and in 1858 formed the firm of Dale, Miller, & Co., at 
 South Shields. After sundry changes in partnership and locality, they were 
 absorbed into the vortex of the joint stocks in 1892. In 1865 that octopus-hke 
 establishment — the National Provincial Bank of England— opened a branch in 
 Newcastle, and laid the foundation of the important position that it now occupies 
 in the district. Not till 1867 — ^just ten years after the failure of the " District" — was 
 a substantial and successful effort made to establish another joint stock. In that 
 year the North Eastern Bank was announced, was duly constituted, and by 
 judicious management has inspired confidence in both shareholders and clients, and 
 proved that a joint stock bank can be planted and flourish in Northumbrian soil. 
 It has turned the quarter century of its history, the first and only Newcastle-born 
 joint stock bank that has ever done so. In 1871, the "Northern Counties Bank " 
 was instituted, and in the following year the " Industrial Bank " appeared, both 
 being Newcastle establishments. Their lives were neither long nor glorious. 
 
 In 1872 a Bankers' Clearing Association was instituted in Newcastle, but 
 before giving an account of it, it will be well to record the earlier practices that 
 were in vogue to facilitate bankers' exchanges. 
 
 Unfortunately very little information upon the subject is available. It has been 
 stated (page 25) that the Newcastle bankers prior to 1788 had a properly organised 
 association, with rules framed by mutual consent, to guide and regulate many of 
 their charges. A custom also seems to have prevailed of periodically presenting 
 their notes upon each other, when as far as possible notes per contra were given, 
 the balance being settled by a draft upon London, but from the account of Messrs. 
 Davison-Bland we plainly see that in 1788-9 this was only aistofnary and not 
 cofnpulsory. Bitter complaints were made against Mr. Benjamin Dunn, banker, 
 at Durham, Messrs. Surtees, Burdon, and Co., Newcastle, and others, because they 
 
[^i8j 
 
 would demand gold in settlement. The following letter, dated March 19th, 1790, 
 shows the custom of settling weekly, and also proves that no fixed rules existed 
 for settlement. 
 
 " Baker, Hedley, and Co., (Commercial Bank, Newcastle) present their compts. to Messrs. 
 Lambton, Williamson, and Co. In future they would wish the Balance of their weekly settlements to 
 be paid either in Gold or in a Bill at 10 Days upon London, and five shillings per cent. Carriage, in the 
 option of the Payers." 
 
 From the same source we gather what the Scotch custom was at a little 
 earlier period. (Interesting particulars are given besides those relating to clearing, 
 so the letter is given in full). Mr. Graham, of the Thistle Bank, Glasgow, writing 
 January 8th, 1788, says : — 
 
 " Five pound notes are bound in books of £300 each. They are numbered No. J, J, &c.. No. f , |, &c. 
 A book is kept for entering the particular number of notes destroyed when worn out. This we call our 
 burning book. We settle with our neighbours in Glasgow once a week and the same in Edinburgh, 
 paying the balances by drafts on Edinburgh. We settle in this manner with none but our neighbours 
 of Glasgow, Paisley, and Greenock, and the banks in Edinburgh. Other country notes we send to 
 Edinburgh as' money, every bank in the country exchanges as we do in Edinburgh. In numbering 
 you may make under every letter as many notes as you please, thus No. Al, No. A2, &c. All notes 
 payable at 35 d'sight payable to order and in London only. Surplus money in London when the sum 
 comes to be large and is to be stationary, may be vested in the public funds. The Three per cent. 
 Consols are generally supposed the most eligible, but these funds and all the rest are so much affected by 
 war, rumours of war, and many other circumstances, that they may often be locked up when most 
 wanted. Exchequer biUs are thought the least liable to be affected by such circumstances, and at all 
 times command money without much loss and sometimes with profit, though not so great as the other 
 funds sometimes bring. We have generally found that they may be purchased to most advantage about 
 the month of June, wlien the new ones are usually issued." 
 
 Further information upon the subject is wanting until shortly after the panic 
 of 1825, when the northern bankers instituted a periodical meeting for purposes of 
 " clearing." Mr. Burgess, in his " Circular to Bankers," March 20th, 1829, says : — 
 
 " We are glad to notice any circumstances which indicate that the Country Bankers of England are 
 actuated by a cordial and more general feeling of union and co-operation than has heretofore prevailed 
 amongst them. Since the panic in 1825, a meeting has taken place, once a week or once a fortnight, 
 at Northallerton (previously at Thirsk for a short time), at which Bankers from Stockton, Darlington, 
 Richmond, Ripon, Knaresborough, Thirsk, Boroughbridge, &c., attended. And this meeting, we are 
 informed, has been found useful, instructive, and agreeable. It is a little centre of exchange for the 
 Bankers of that part of the country, where demands upon each other are cleared, as at the clearing- 
 house in London, bnt in a somewhat different manner — the transactions being so different." 
 
 It will be seen in the account of the Northumberland, Durham, and District 
 Bank that about 1837, shortly after their commencement, "clearing" was con- 
 ducted in a room at their establishment, then No. 35, Grey Street. This informa- 
 tion was given by a gentleman who, in his youthful days, attended the meetings ; 
 he further stated that he believed it was soon discontinued, but from what cause 
 he could not remember. 
 
[l^ 
 
 The earliest published record that has been met with upon the matter is in 
 the Banker s Magazine for 1845, p. 219, which says : — 
 
 " The Newcastle Banks formerly kept up a sort of local or provincial clearing house, at which a clerk 
 from each bank attended to exchange notes and cheques daily, and the balance of exchange was paid 
 at once in Bank of England notes or gold. Since they have opened drawing accounts with the branch 
 bank, it is now the practice for each bank to send in for its credit with the Bank of England, against 
 a certain hour daily, any cheques or notes of the other banks it may have received in the course of the 
 day, which are collected by a clerk from the Bank of England, who goes round before the usual hour of 
 closing, and receives the amount in notes or cheques upon their respective accounts." 
 
 This statement explains why the clearing held at the District Bank was 
 discontinued. 
 
 In i860 the banking houses in Newcastle besides the Bank of England were 
 Lambton and Co., Woods and Co., and Hodgkin, Barnett, and Co.; the business of 
 the town having returned to the hands of the private banker exclusively. These 
 firms all kept accounts at the Branch Bank of England and conducted their 
 exchanges very much in the way recorded in the Bankers Magazine. By 1872 
 the trade of the district had greatly increased, every confidence was felt in the 
 local banks, the custom of keeping a banking account had become general, and 
 * cheques were used for all payments. It was therefore deemed expedient to 
 establish a " Clearing House " for the Newcastle banks, mainly upon the lines of 
 the London establishment. A local association was duly formed, the agent of the 
 Bank of England elected chairman, and accommodation secured at the Branch Bank 
 for a " clearing room." The banks in the town at this time were the same as 
 those named as existing in i860, with the addition of a branch of the National 
 Provincial Bank of England, and the North Eastern Banking Company. All the 
 banks became members of the association, and for a short time the system adopted 
 worked smoothly, and proved a great advantage to its members. Unfortunately — 
 disintegration set in, which spoiled the unity and consequently the utility of 
 the system. One very important rule of the association was, that the balances at 
 the close of each day should be settled by draft upon the Branch Bank of England, 
 thus compelling any member of the Association to retire from the clearing house if 
 at any time he should discontinue his working account with the Bank of England. 
 Three of the five bankers who, with the Bank of England, originally joined the 
 clearing association, at various times closed their accounts with the bank. One 
 soon re-opened, but two important banks are still non-customers of the Bank of 
 England and therefore excluded from the clearing house. By these withdrawals 
 the system has been disorganised, and the remaining members put to great 
 inconvenience. It is most desirable that all the Newcastle bankers should be again 
 united, and the rules of the association so firamed, that any member not requiring 
 
[I20] 
 
 a working account with the Bank of England could have a clearing account only, 
 the bank being re-couped by a pro rata payment from each other clearing banker 
 for all extra labour entailed, upon a scale to be mutually agreed upon by all the 
 members of the Clearing Association. For the reason stated, the "Clearing 
 House Returns " give no adequate idea of the business of the Newcastle district. 
 
 Up to 1882 the Association was only for Town Clearing, but in that year it 
 was extended to Country Clearing, most of the banks north of York becoming 
 members. 
 
 In 1874, the "Association of English Country Bankers" was reconstituted. 
 The local firms that joined it were Backhouse & Co., Darlington ; Bower, 
 Hall, & Co., Beverley ; Dale, Young, & Co., South Shields ; Hodgkin, 
 Barnett, & Co., and Lambton & Co., Newcastle ; Roper and Priestman, 
 Richmond ; Simpson, Chapman, & Co., Whitby ; Woodall, Hebden, & Co., 
 Scarborough ; and Woods & Co., Newcastle ; Mr. E. Backhouse, M.P., Mr. George 
 Fenwick, and Mr. Thos. Hodgkin, being placed upon the General Committee. 
 
 The Bankers' Almanack for 1876 contains some very interesting tables 
 regarding the note issue of the private and joint stock banks of the kingdom. 
 
 In 1883, the first joint stock bank estabhshed in the district — the 
 Darlington District Bank — was absorbed by the " York City and County," which 
 extended its borders to Newcastle in 1890, and subsequently opened a branch at 
 Sunderland. In 1892 the old-established private bank of Simpson, Chapman, & Co. 
 of Whitby, was made over to the York Union Banking Company. 
 
[121] 
 
 CHAPTER XII. 
 
 COINING AND CLIPPING. TONTINES AND LOTTERIES. 
 
 Governments constantly troubled with "Coiners" and "Clippers" — Some cases of 
 coming in the North — Thomas Peebles at Berwick — Hugh Partridge at 
 Newcastle — Thomas, "a Scotts man coining hard heddes on Cokett Island " — 
 John Maben — Instances of Clipping in "Depositions from the Castle at York " 
 Daniel Auty — Rev. John Booth at Bothal — Specimens of Mint and " clipped " 
 half-crowns — Clipping by Wm. Guest of the Bank of England — Tontines — Act 
 prohibiting lotteries — Government break their own law — Great rage for lotteries 
 between 1785 and 1823 — Banks supply tickets — Illustrations of Lottery Bills — 
 State Lotteries abolished in 1826. 
 
 THE practice of coining spurious money, and of filing or clipping good 
 money, and so robbing it of part of its value, has ever been a trouble to the 
 banker, and has constantly occasioned perplexities to the Governments who 
 were responsible for the currency of the country. The north of England was 
 not free from these frauds. A few of the most interesting cases are recorded 
 here. 
 
 In 1564, Thomas Peebles was arrested for coining at Berwick. He confessed his guilt and 
 implicated others. One of those examined was " Hugh Partridge, gentleman." He also confessed, and 
 named as a confederate, John Bennet, of Newcastle, a well-known personage, being master of the 
 ordnance. Bennet denied the charge, but " admitted that Partridge had been in his house, ' The 
 
 Nuns,' in Newcastle, and told him of a way to coin Scotch moneys that Partridge had 
 
 called upon him at Christmas Eve, and paid him £5, which was used in paying artificers, who sent it 
 back ; stated further, that on his reproaching Partridge for bringing such money, the latter promised 
 he would never utter another penny, whereupon he condoned the offence." Edward Shadbolt, goldsmith, 
 of Wakefield, deposed that he had helped Partridge, at Newcastle, to forge plates for 12d. pieces, 
 amounting to £5, four of which he received for his pains, and having uttered one at Newcastle, he 
 threw the rest into the Tweed because they changed colour. 
 
 Bennet was in danger of losing his post but subsequently obtained forgiveness. 
 Partridge appears to have escaped for a time, but Mr. Welford, in his records from 
 the State Papers of 1565, gives the following : — 
 
 •' This yeare Partrage was put downs for coyninge fals monnye in the Great Innes in Pilgrame Streat." 
 
 P 
 
1^22] 
 
 The master of the ordnance did not long survive the trouble into which he had 
 fallen. He died on July 8th, 1568.* 
 
 Very soon after these occurrences, some coiners (probably of the same gang), 
 selected the quietude of Coquet Island (which lies off the Northumberland Coast, 
 near Warkworth), to experiment in the art of coining. 
 
 "In 1569, Rowland Foster, Captain of Wark (? Warkworth), on examination admits or states that 'he 
 had in his house at Wark about two years past before the going of the soldiers to Newhaven, one 
 Thomas a Scotts man, and then the said Thomas did take in hand to coyne hard heddes,] the which 
 
 he could not bring to any perfection there, and required me to get him a place of more secretnes to 
 work more at liberty .... before I had got hym an other place one Barber a soldier of Barwick, 
 which was acquaynted with the said Thomas before, did bring one Arthur in the night time to my 
 house to the said Thomas and said he could skill in the same art, and they both did there put in use to 
 have stamped hard hedds and could bring it to no perfection and thereupon I put them in a place 
 called the Cokett Island and there was the space of twenty days and more and yet could not bring it to 
 no perfection that was good, and having made thereof to the value of ten pounds, I took the same and 
 threw it a-way and caused them to swear on a book that they should never use that art again and so 
 they and I departed and had never more to doo.' "| 
 
 In 1744 James Maben and John Samuel were convicted of coining, and 
 sentenced to death. Maben was well connected, and during his imprisonment 
 was visited by many people in good position. On the fatal day he was dressed 
 in white and drawn on a sledge to the place of execution. Previously he had 
 attempted to escape from the Newgate Prison (Newcastle), for which he was put 
 into the dungeon and chained to the wall. He was executed " without the 
 Westgate," August nth, and, with two other felons, was buried in St. John's 
 Churchyard. 
 
 * An interesting account of Bennet (by the late James Clephan) will be found in Welford's " History of 
 Newcastle." 
 
 + Hard head— a, small coin of mixed metal or copper. " The hard head is really the French hardie, Scotifled. 
 The hardie is supposed to be so called from Philip le Hardi, under whom they were first struck, and who began 
 to reign in 1270."— Pinker ton, Essay on Medals, 1789, ii., 110. " Dailie there war such numbers of Lions (alias 
 called Hardheids) prented, that the basenes thareof maid all thingis exceiding dear." — Knox, 'Historie of the 
 Keformation,' p. 147. It is evident that the coin also bearing a lion, struck under Mary 1559, had previously 
 received this name. For the complaint quoted from Knox refers to this year." Jamieson's " Scottish Dictionary." 
 
 t State Papers quoted in Richardson's " Rare Newcastle Tracts," No. 4, 
 
[1^3] 
 
 In 1758, John Heslop was arrested on suspicion of coining. An advertisement 
 in the local paper of the day will show how evidence against a prisoner was then 
 obtained : — 
 
 Newcastle Courant, March 4th, 1758 — Northumberland. " Whereas one John Heslop alias Thomas 
 
 Anderson was lately committed to and is now a Prisoner in the Goal at Morpeth, for counterfeiting the 
 
 current coin of this Kingdom. All persons therefore who can charge the said Heslop alias Anderson 
 
 with any facts relating to coining or uttering counterfeit money are desired to make information 
 
 thereof before William Ward, Esq., and the Kev. Oliver Mayler, Clerk, two of His Majesty's Justices 
 
 of the Peace for the said County (by whom the said Heslop alias Anderson was committed) or any 
 
 other of His Majesty's Justices of the Peace for the said County. 
 
 By order of the Justices." 
 
 At the following Assizes Heslop was found guilty. He was sentenced to 
 death, but afterwards reprieved. 
 
 CLIPPING. 
 
 Coining appears to have been almost entirely confined to the lower ranks 01 
 society, but "Clipping" was practised by all classes. 
 
 A London writer in 1695 says : — "The coins had been diminished by clipping 
 and filing — many of the shillings contained only three pence in silver — an enonnity 
 attributed to the Goldsmiths who appear to have been rather sharp traders." 
 
 In the "Depositions from the Castle of York" (Surtees Soc. Pub., vol. xl.) 
 we find some interesting information upon this subject. The Editor (Dr. Raine) 
 says :— 
 
 " Cattle-stealing which is now so rare was one of the common vices both of tovni and country, but 
 perhaps the most serious and frequent crime was the clipping and deterioration of the coin. No one 
 can have any idea of the extent to which this infamous trade was carried on. I have seen the 
 confessions of several culprits, each of whom inculpated twenty or thirty others. The offence which 
 was high treason was repressed by the severest punishments, but the temptation was greater than 
 many would resist. There were few silversmiths in the north who had not purchased the proscribed 
 filings or clipped them o£E themselves. It was occasionally necessary to make a very severe example 
 of buyers as well as sellers. On one occasion a wealthy goldsmith, Arthur Mangey, the father of Thomas 
 Mangey, a well-known divine, was executed for this offence." 
 
 From the volume referred to we give two noted cases. Daniel Auty was 
 tried for clipping money in April, 1675. He was an adept at the art and boasted 
 that " he could clip as well as any man." He came to the house of a friend 
 
 " and desired him to procure of Mr. Beacham or any other, £100, or what other sum he could best 
 procure, for two or three days and he would allow this informant reasonable profitt for the loane 
 thereof, for the said Autye told him he could clipp about 3s. of every pound and doe it as well as any 
 man in England could doe it, and farther he told him it was not treason to talke of it." 
 
[1^4] 
 
 Auty was a notorious vagabond and came to an untimely end. He and his 
 son-in-law, whose name was Busby, fitted up a place for coining. A quarrel arose, 
 when Auty was killed by his partner. Busby was convicted of the murder. He 
 was executed and afterwards hung in chains near Sandhutton, the gibbet long being 
 known as "Busby-stoop." Ralph Thoreby, the antiquarian, thus refers to this 
 incident in his diary, 1703, May 17th : — 
 
 " Along the banks of Swale are the very pleasant gardens of Sir William Robinson, lately Lord Mayor 
 of York, but a few miles after a more doleful object of Mr. Busby hanging in chains for the murder of 
 his father-in-law, Daniel Auty." 
 
 The other case is that of the Rev. John Booth, vicar of Bothal, near Morpeth. 
 He was tried May 8th, 1672. 
 
 " Mrs. Anne Smithson, of Stainley, sayth that near Lent in the year 1670-1, she being at 
 Bothwell Castle was informed by Ann Martin, servant to Mr. John Booth, parson of Bothwell Castle, 
 that the said Mr. Booth was a clipper of coyn. She further sayth that shee was an eye-witness of it as 
 also Roger Ambrey, who had part of the clippings. She saw through the crannys of boards and 
 observed a furnace about a yard high with panns and sheers fastened in a table. He had an assistant 
 called Henry Thompson now say'd to be at Tangier, although believed to be near Islip in Derbyshire. 
 . Upon his defrauding my Lord Newcastle and flight upon it, the said Booth sent to his wife to be sure 
 to pull down the furnace and to throw the iron pinns over the leads. Chr. Smithson, of Stainley, 
 gen. saith, ' that Mr. Booth did clip the king's coyne for lucre sake and sold it to one Ramsgill of 
 Newcastle a goldsmith and one Andrew Bell told him that he did carry a cloth bag from Bothwell to 
 Newcastle of Mr. Booth's with great lumps of silver melted in it which thumpt him upon the back like 
 boolder stones.' Many witnesses supported the charge of clipping. Ralph Daglish said that he built 
 a fire hearth for the rector in a corner near a window in a room over the gateway in Bothall Castle. 
 Booth had borrowed a pair of bellows from the village smith, and a person came forward who heard 
 the smith say " he wondered what the parson did with his bellows for they had a better blast than 
 they had before." Ramsey, a Newcastle goldsmith, deposed that he bought of Booth ' about 900 
 ounces of rund silver or bullion at twice,' thus showing the large scale on which the operations had 
 been carried on." 
 
 Booth at once fled the country, and seems to have behaved in a most atrocious 
 manner. To one witness he offered £12 if she would swear that she had been 
 induced to give false evidence. His assistant wrote to Sir Henry Goodricke, 
 saying : — 
 
 " Now by reason of my tender years he persuaded me to get out of the country till his troubles were 
 over, for he told me that there was none knew of his actings save myself, and a made in the house. 
 But for her he would give her a dose — which young made was taken away with one Douty, a 
 highwayman, by Booth's order and brought to Knaseborough, where she dyed very strangely and 
 suddenly." 
 
 I have no record of the value of silver at that date, but if we take it at 5/- per 
 oz., and it would probably not be less than that sum, the filings bought by Ramsey 
 would be worth £22^. 
 
[1^5] 
 
 Specimens of clipped coins are here produced. 
 
 The upper illustration represents the obverse and reverse of half-crowns of 
 Charles I. the shape and size in which they left the mint. The lower one shows 
 half-crowns of the same coinage after passing through the hands of the clipper. 
 
 So notorious had the practice of clipping become, that in 1694 Fleetwood* 
 preached his noted sermon on the subject. 
 
 Francis in his " History of the Bank of England " quotes the case of William 
 Guest, one of the Tellers, who was found to have been in the habit of filing some 
 of the Guineas in his charge and afterwards procuring a newly milled edge, which 
 was executed by the use of a most ingenious machine invented by himself. Four 
 pounds eleven ounces of gold filings were found in Guest's house. 
 
 TONTINES AND LOTTERIES. 
 
 One branch of the business of the early provincial banker was the disposal of 
 lottery tickets. It is, therefore, necessary that a short account be given of State 
 Tontines and Lotteries. Fortunately they were discontinued ere the days of the 
 present generation, but for three-quarters of a century they inculcated and 
 
 ♦ A Sermon Against Clipping Preach 'd before the Bight Honourable the Lord Mayor and Court of Aldermen 
 at Guild-hall Chappel, on December 16th, 1691. By W. Fleetwood, Chaplain in Ordinary to their Majesties. 
 London : Printed by Tho. Hodgkin, and are to be Sold by John Whitlock, near Stationers'-Hall, 1691. 
 
[1^6] 
 
 sustained a love for gambling that permeated all classes of society. Many- 
 interesting particulars regarding the early State lotteries are given in " Notes on 
 the National Debt " that appeared in the Journal of the Institute of Bankers, 
 April, 1890. 
 
 The earhest form of lottery was the Tontine, instituted in 1692. Life 
 Annuities were granted on the Tontine principle which 
 
 "Instead of depending upon separate lives, depended upon series of lives, and as the members of the 
 series died off, their shares were divided among the survivors, until the aggregate annuity or a fixed 
 proportion of it, became the property of the last survivor. . . . There were also lottery loans : a 
 low rate of interest being coupled with prizes in which every investor might be a winner : and there 
 were lotteries pure and simple with blanks only for the unsuccessful." 
 
 In 1699 an Act was passed prohibiting all lotteries. It states : — 
 
 " Several evil-disposed persons, for divers years past, have set up many mischievous and unlawful 
 games called lotteries . . . and have thereby most unjustly and fraudulently got to themselves 
 great sums of money from the children, servants of several gentlemen, traders, and merchants, and 
 from other unwary persons, to the utter ruin and impoverishment of many families, and to the 
 reproach of the English laws and government." 
 
 Nevertheless the Government were the first to break their own law by special 
 Act of Parliament passed in 1710 for raising ^1,500,000 by lottery. In the 
 first half of the eighteenth century the State lotteries were only used to attract 
 subscriptions to loans, but from 1755 profit was not only aimed at but largely 
 realised. The great rage for gains was from 1785 to 1823, during which time not 
 a single year passed without the issue of a lottery. " The aggregate revenue 
 derived from this source between these dates is estimated at about /i 1,000,000." 
 
 The prizes offered ranged from /lo to ^20,000. The regulations for 
 conducting them were most elaborate, and all arranged by the State. The tickets 
 in the first place were issued by the Bank of England ; they were principally 
 purchased by dealers in lottery tickets, who required a license, which was recorded 
 in the London Gazette. The tickets were circulated through the country by 
 numerous agents called "Morocco men" (from their red leather pocket books), 
 who sold them at enormous profit. 
 
 The rush for the first issue was often very great ; we read in the London 
 letter of the Newcastle Journal, Saturday, April 19th, 1755 : — 
 
 " The crowd was so great to-day at the Bank (of England) of subscribers for Lottery tickets, that the 
 Counters were broken by the Eagerness of the people in pushing forward. The subscription closed at 
 Five this evening and it is thought that double the intended number is subscribed for." 
 
 The pages of the local papers of this date abound in the most tempting 
 advertisements regarding the lotteries. Every vendor of tickets claims to have 
 had the greatest possible luck in the chances that he had sold on previous 
 
[127] 
 
 LOTTERY HAND-BILLS. 
 
 Get 
 
 HOW TO 
 
 lip in the World. 
 
 I'M do«B ID the WO1I4, 
 
 Pray how ihall I riM 
 
 Ml tin .— Ml Ull joa, good Sir, 
 
 ! If jow'tlopeo }C«reyc«. 
 
 If I cp#n my eye*. 
 
 Pn»y •\m\ i» yow «»]■ ^ 
 
 Ttut ym'd look u tbia Ticket 
 I>t pcicbu d of BISH 
 
 WVy ■ Oimad Tvraty Thoiaiad 
 Hu Lock hat bmogbt ou! 
 
 Ak • if I had • Shut of n (able > 
 
 Phic, 
 to the world. [ aio mre. I *hoald 
 
 fuy tooa rMc. 
 
 Tlifa why don't yon b«y^— te't 
 Contnctor ooct aoi«. 
 
 Who kaov* «bat good Fortau 
 for you u in iton * 
 
 Tout adncc I will take, ud I U koiry 
 
 »wiy. 
 To purcbue > Ticket hc/«R Drawing 
 
 Slop !— We'll both go togrtber, tad 
 
 tbn we ibvU ice 
 K yoor Lock lad bum will togetbrr 
 
 agiw. 
 
 New Lottery will be all drawn in One Day, 
 the 30th of This Month, (August.) — Two 
 Prizes of £20,000, &c.— All Sterling Money.— 
 Every Ticket drawn singly. — £11,200 in Extra 
 Prizes. 
 
 Ticket and Shares are selling by 
 T. BISH, Sole Contractor, 
 
 4, CORNHILL, and 9, CHARING CROSS, 
 London. 
 
 And by all his Agents in the Country. 
 
 SIGNS 
 
 To be observed before the 
 
 21st of JANUARY, 
 
 She-wing the Wonders that may be performed on that Day 
 by the Purchase of a Ticket or Share in the present popular 
 Lottery, which consists of only 12,000 Tickets, containing 
 2 Prizes of 20,000 Guineas, and upwards of 40 other Capitals, 
 all in Sterling Money (No Stock Prizes). Begins Drawing 
 JANUARY 21, 1817. 
 
 BY A WHOLE TICKET YOU MAY 
 
 build set up and become 
 
 BY AN HALF YOU MAY 
 
 retire into buy and be the 
 
 of 
 
 become 
 
 BY A QUARTER YOU MAY 
 
 of the and after provide for those 
 
 BY AN EIGHTH YOU MAY 
 
 portion off in provide for or secure a in 
 
 BY A SIXTEENTH YOU MAY 
 
 set up buy or advance iu if iu you may be 
 
 BY A WHOLE TICKET you may build a mansimi, set up 
 
 a carriage, and become Member of Parliament. 
 BY AN HALF you may retire into the country, buy a farm, 
 
 and be the ^squire of the village. 
 BY A QUARTER you may become independent of the world, 
 
 and after death provide for those yoii love. 
 BY AN EIGHTH you may portion off a Davghter in 
 
 marriage, provide for a Son, or secure a support in 
 
 old age. 
 BY A SIXTEENTH you may set up in business, buy a 
 
 commission in tlie army, or advance in tlie church; if in 
 
 distress you may be relieved, if in affluence you may do 
 
 a tlwusand good and charitable actions. 
 
[128] 
 
 Exact Representation of Drawing the State Lottery, 
 
 For the Last Time in tliis Kingdom, 
 18tli Oct., 1826. 
 
 occasions. Twenty thousand tickets at £io was a very customary sum to be 
 raised — but the price of a ticket was often much greater. To tempt the poorer 
 classes chances were divided into halves, quarters, eighths, or sixteenths. Thomas 
 Moor "at the Burnt House in the Side," and T. Slack at the "New Printing 
 Office," were the leading Newcastle vendors from 1755 to 1760. From the 
 account of the Old Bank (Bell, Cookson, 
 & Co.) it will be seen that in 1759 they 
 were advertising to supply tickets in the 
 State Lottery upon London terms, and 
 from the books of Davison-Bland we gather, 
 that the bankers procured tickets for their 
 clients, and also invested in chances on their 
 own account. The drawing sometimes ex- 
 tended over a period of forty days. The 
 result of the tickets drawn was made 
 public daily, and if high prizes were left in 
 the wheel, speculation in the remaining 
 chances grew deeper and deeper. A large 
 prize was generally awarded to the latest 
 drawn ticket, so that to the very last the 
 excitement was maintained. 
 
 In the early part of the present 
 century Newcastle was flooded with hand- 
 bills on this subject, in prose, verse, and 
 hieroglyphics. I here produce a few 
 specimens. 
 
 The last drawing was held on i8th 
 October, 1826, as will be seen from the 
 annexed quaint illustration of the plan 
 pursued. 
 
 The writer of the article previously 
 referred to, in the Journal of the Institute 
 of Bankers, says : — 
 
 '< The demoralisation these lotteries produced 
 among all classes of society, at length compelled the 
 State to listen to the protests and warnings which 
 reflective people had constantly addressed to them 
 on the subject. In 1826 they were finally abolished, 
 and tontines and lotteries have since that time com- 
 pletely disappeared as a resource of British finance." 
 
 The Wheel containing the Numbers. 
 The Wheel containing the Prizes. 
 The Proclaimer of the Numbers. 
 The Proclaimer of the Prizes. 
 The Blue-coat Boy who draws the Numbers. 
 The Blue-coat Boy who draws the Prizes. 
 The Commissioner to watch the Drawing of the 
 Numbers. 
 
 8 The Commissioner to watch the Drawing of the 
 Prizes. 
 
 9 The Commissioner to check that the right Num- 
 ber is proclaimed. 
 
 10 The Commissioner to check that the right Prize 
 is proclaimed. 
 
 11 The President who knocks with his hammer 
 when a Number is to be drawn. 
 
 12 & 13 The Two Commissioners who file the Num- 
 bers and Prizes as they are drawn. 
 
 14 The Commissioners' Clerks who take down the 
 Numbers as they are drawn. 
 
 Hazard &. Co. Contractors for this the Last 
 of all Lotteries, respectfully remind the Public 
 that the present is positivehj and inevitably 
 the Last Lottery that will be allowed in this 
 Kingdom. 
 
 Six Prizes of £30,000! 
 
 IN ONE DAY, ISth THIS MONTH, October. 
 
 13" HAZARD and Co. in One Lottery Sold ALL the 
 
 f30,000 Prizes, and very recently THREE £20,000 
 
 Prizes in one Day. 
 
 A great Variety of Numbers are Selling by 
 
 R. HALL, Newcastle-on-Tyne, 
 
 AGENT TO HAZABD AND CO. 
 
 Boyal Exchange Gate, 26, Cornhill, d 324, Oxford 
 at. end of Regent St. 
 
[i^9] 
 
 %\6t Of 1Rortb*'Countr^ Bankers 
 
 THAT APPEAR TO HAVE BEEN CONNECTED WITH LONDON FIRMS. 
 
 LAMBTON & CO., Newcastle. 
 1788 Davison-Bland, Landell, Chambers, G. 
 Hoar, Smoult, & Ashworth. 
 
 1790 Hoar and Smoult return to India, firm 
 becomes R. J. Lambton & Co. 
 
 MOWBRAY, HOLLINGSWORTH, & CO., 
 
 Dablington, 
 1773 M. Mowbray. 
 
 1784 Richard Richardson & John Mowbray. 
 3802 Wetherell, Mowbray, & Co. 
 1806 Mowbray, Hollingsworth, Shields, 
 Boulton, Wetherell, & Mason. 
 
 NORTHUMBERLAND BANK. 
 1803 Batson, Reed, & Co. 
 1821 Stop payment. 
 Resume at Berwick as Batson, Berry, & Co. 
 
 CHAPMAN & CO., Newcastle. 
 1819 Edw. Chapman, of Whitby, Wm. 
 
 Chapman, of North Shields. 
 1824 Chapman & Co. 
 1836 Converted to Joint Stock Bank. 
 
 GOODCHILD, JACKSON, & CO., 
 Sunderland. 
 1802 John Goodchild, John Jackson, C.A. 
 Heurtley, Wm. Jackson. 
 
 BARNETT, HOARE, & CO., London. 
 1740 John Bland & Son. 
 1761 Bland, Barnett, & Co. 
 1763 Bland, Barnett, & Bland. 
 1772 Bland, Barnett, & Hoare. 
 1790 The name of Bland drops out. 
 
 HOLLINGSWORTH & CO., London. 
 
 PRESCROTT, GROTE, & CO., London. 
 1736 Pepys & Hollingsworth. 
 1748 Hollingsworth & Co. 
 1750 No trace. 
 
 1766 Prescott, Grote, Culverden, & John 
 
 Hollingsworth, 
 1801 *Prescott, Grote, & Prescott. 
 
 REMINGTON & CO., London. 
 1763 Knight, Batson, & Co. 
 1766 Batson, Stephenson, & Co. 
 1785 Batson, Stephenson, Grace, & Glover. 
 1794 Batson & Remington. 
 1812 Stephenson & Remington. 
 
 FRY & SONS, London. 
 1806 Fry & Sons. 
 1815 Frys & Chapman. 
 1824 Extinct. 
 
 JACKSON, GOODCHILD, & CO., London. 
 
 1802 Jackson, Goodchild, & Co. Recorded in 
 lists, but not in the account of the 
 banks in handbook of " London 
 Bankers." 
 
 1819 Drop out of lists. 
 
 1811 RAIKES & CO., Malton. 
 
 CURRIES & CO., London. 
 1788 A junior partner of the name of Raikes 
 
 admitted. 
 1814 Curries, Raikes, & Co. 
 
 * There was an old Darlington family of the name of Prescott. They intermarried with the Allans, another 
 Darlington family. A member of this house became partner in Bussell, Allan, & Wade, bankers at Sunderland, 
 1790 to 1800. 
 
 Q 
 
PART II. 
 
 BANKS REVIEWED 
 
 ALPHABETICALLY ARRANGED. 
 
[ 132] 
 
 ALPHABETICAL LIST OF BANKS REVIEWED. 
 
 
 PAGK 
 
 
 Alnwick & County Bank 
 
 133 
 
 
 Backhouse & Co. . . 
 
 134 
 
 
 Baker, Shafto, Ormston, & Co. 
 
 155 
 
 
 Batson, Berry, Langhorn, & Wilson . . 
 
 162 
 
 
 Batson, Wakefield, & Scott 
 
 163 
 
 
 Baxter & Co. 
 
 173 
 
 
 Beckett & Co. (see Bower d Co.) 
 
 
 
 Bell, Cookson, Carr, & Airey . , 
 
 174 
 
 
 Bell, Woodall, & Co 
 
 196 
 
 
 Blake, Sir P. & Co. [See Batson, 
 
 
 
 Wakefield d Scott) 
 
 
 
 Bower & Co 
 
 199 
 
 
 Branch Bank of England 
 
 201 
 
 
 Britain & Co. 
 
 'Al8 
 
 . 
 
 Broadley & Co. . . 
 
 218 
 
 
 Bullock, Benjamin 
 
 218 
 
 
 Campion, Margaret & Robert . . 
 
 219 
 
 
 Chapman & Co. . . 
 
 221 
 
 
 Chaytor, Sir William & Co 
 
 225 
 
 
 Clark, Richardson, & Hodgson 
 
 227 
 
 
 Clement, J. 
 
 229 
 
 
 Cooke, Robinson, & Co. . . 
 
 2.30 
 
 
 Dale & Co. 
 
 233 
 
 
 Darlington District Joint Stock Bank.. 
 
 230 
 
 
 Davison- Bland & Co. 
 
 239 
 
 
 Dresser, Joseph, & Co. . . 
 
 203 
 
 
 Dunn, Benjamin. . 
 
 263 
 
 
 Elstob, Luke 
 
 264 
 
 
 Fenton, Scott, Nicholson, & Smith . . 
 
 205 
 
 
 Fletcher, Stubbs, Dew, & Stott 
 
 266 
 
 
 Forster, Burrell, Rankin, & Co. 
 
 266 
 
 
 Frankland, John & James 
 
 273 
 
 
 Goodchild, Jackson, & Co. 
 
 274 
 
 
 Hague, Strickland, & Allen 
 
 279 
 
 
 Hammond, Hirst, & Close 
 
 280 
 
 
 Hawks, Grey, Priestman, & Co. 
 
 281 
 
 
 Hayes, Leatham, Hodgson, & Co. 
 
 283 
 
 
 Hodgkin, Barnett, Pease, Spence, & Co. 
 
 284 
 
 
 Hutchinson, Geo. & Thos. 
 
 287 
 
 
 Hutton, Other, & Co 
 
 291 
 
 
 Industrial Bank, The . . 
 
 294 
 
 
 Lambton & Co. (see Davison-Bland 
 
 
 
 d- Co.) 
 
 
 
 Lawson, Sir John 
 
 296 
 
 
 Lister & Co. 
 
 298 
 
 
 London & Northern Bank 
 
 299 
 
 
 London Bank of Scotland 
 
 803 
 
 
 Loraine, Sir Chas. & Co. (see Baker, 
 
 
 
 Shafto, d Co.) 
 
 
 
 Lumley, Smith, & Co. . . 
 
 304 
 
 
 Miles, Wells, & Co 
 
 306 
 
 
 Mills, Robinson, Hopper, & Co. 
 
 307 
 
 
 Mowbray, HoUingsworth, & Co. (see 
 
 
 
 Richardson d Mowbray) 
 
 
 
 Mowbray, HoUingsworth, Wetherell, 
 
 
 
 & Co 
 
 310 
 
 
 National Provincial Bank of England 
 
 3L3 . 
 
 
 Newcastle Commercial Joint Stock 
 
 Bank 
 Newcastle Joint Stock . . 
 Newcastle, Shields, & Sunderland 
 
 Union Joint Stock Bank 
 Northern Counties Bank 
 North-Eastern Banking Co., Limited. . 
 North of England Joint Stock Bank . . 
 Northumberland & Durham District 
 
 Bank 
 Pease & Co. 
 
 Pease, J. & J. W 
 
 Peirse, Consett, Topham, & Walton . . 
 
 Peirson, Thomas . . 
 
 Raikes & Co. 
 
 Raper, Swann, & Co. 
 
 Reed, Batson, & Co. (see Batson, 
 
 Wakefield, d Scott) 
 Richardson & Holt (see Clark, 
 
 Richardson, d Hodgson) 
 Richardson & Mowbray . . 
 Ridley, Sir Matthew White, & Co. (see 
 
 Bell, Cookson, d Co.) 
 Roper & Priestman (see Sir John 
 
 Lawson) 
 Russell, Allan, & Co. 
 Sanders & Sons . . 
 Savings Bank, The Newcastle . . 
 
 Shields, William 
 
 Simpson, Chapman, & Co. 
 
 Si:npson, Sanderson, Taylorson, & Co.. 
 
 Skinner, Atty, & Holt 
 
 Stockton and Durham County Bank . . 
 Sunderland Joint Stock Bank . . 
 Surtees & Burdon 
 Swaledale and VVensleydale Joint 
 
 Stock Bank 
 Sykes, Sir Christopher . . 
 Tyne Exchange Banking Co. . . 
 Union Joint Stock Bank, The (see 
 
 Newcastle, Shields, d Sunderland 
 
 Union Joint Stock) 
 Warwick, Lamb, Wright, & Co. 
 Wear Joint Stock Bank, The (con- 
 templated) . . 
 Wholesale Co-operative Society, Limited 
 Woodall, Tindall, & Co. (see Bell, 
 
 Woodall, d Co.) 
 
 Woods & Co 
 
 York City and County Banking Co. . . 
 
 York Union Banking Co. 
 
 Yorkshire Agricultural & Commercial 
 
 Banking Co. 
 Yorkshire Banking Co. . . 
 Yorkshire & Cleveland Bank . . 
 Yorkshire District Banking Co. 
 Yorkshire Penny Bank . . 
 
 315 
 319 
 
 320 
 326 
 328 
 330 
 
 335 
 345 
 346 
 350 
 360 
 361 
 361 
 
 353 
 
 362 
 365 
 366 
 372 
 373 
 378 
 379 
 .382 
 383 
 385 
 
 401 
 402 
 403 
 
 404 
 
 404 
 
 405 
 
 406 
 409 
 410 
 
 412 
 414 
 415 
 415 
 417 
 
Part II.— BANKS. 
 
 Hlnwich an& dount? Banft. ainwicn. 
 
 Partners. 
 
 Passed to North Eastern 
 
 Founded iSsT- William Dickson. t c- xi t r. 
 
 •^' Joint Stock Bank, Ltd., iSy;. 
 
 William Woods. "^ » > /o 
 
 THE collapse of the Northumberland and Durham District Bank in 1857, ^^ft 
 Messrs. Lambton & Co. the sole bankers at Alnwick. Deeming that there 
 was room for another bank, many of the leading tradespeople waited upon 
 their townsman, Mr. William Dickson, Solicitor, and asked him to open one. 
 Mr, Dickson conferred with his friend, Mr. William Woods, Banker, of Newcastle, 
 and in May of the following year, they formed a co-partnership, and opened the 
 " Alnwick and County Bank " ; Mr. E. A. Storer, who for some time had been 
 manager for the " District " Bank in that town, being appointed to a similar post in 
 the new firm. From time to time various branches were established. Upon the 
 death of Mr. Woods in June, 1864, Mr. Dickson became the sole proprietor. He 
 died May 14th, 1875, and verj^ soon afterwards his trustees disposed of the business 
 of the Alnwick and County Bank to the proprietors of the North Eastern Banking 
 Company, Ltd. The following circular was issued by Mr. Storer : — 
 
 "Alnwick and County Bank, Alnwick, May 28th, 1875. Dear Sir, I have accepted the general 
 management of the Alnwick and County Bank, and its branch is now associated with the North 
 Eastern Banking Company. The business of tiie bank will go on without interruption. Depositors may 
 rest assured of the ample security afforded to them, as, in addition to the estate of the late Mr. Dickson 
 (which is ample), they will have the security of the large capital of the North Eastern Banking 
 Company, of which upwards of half-a-million is uncalled. After spending thirty years amongst you 
 as a bank agent, I would gladly have entered into privacy, but my duty to the late Mr. Dickson and 
 the public, renders such a course at present impossible. 
 
 Hoping to have the confidence I have hitherto enjoyed, and with many thanks for past kindness, 
 
 I am, Sir, yours very respectfully, 
 
 E. A. STOEER." 
 
 Mr. William Dickson was the son of a Berwick solicitor. He was born 
 in 1799, and came to Alnwick about 181 6. He served his articles with Mr. Robert 
 Thorp, and in 1822 entered into partnership with that gentleman. Mr. Dickson 
 held many public appointments. He was a fellow of the Society of Antiquaries ; 
 and his " Translation of the Pipe Rolls of Northumberland " was a work of great 
 research. He also contributed many interesting papers to the Berwickshire 
 Naturalist Club. 
 
[^34j 
 
 Towards the close of 1875, a handsome testimonial was presented to Mr. 
 E. A. Storer, who for so long a period had been the leading spirit at the bank. 
 " The testimonial was in the shape of a purse containing 300 sovereigns, and a 
 handsome silver soup tureen, with stand, &c., accompanied with a book containing 
 a list of subscribers' names." A public ceremony was contemplated, but Mr. 
 Storer being unwell at the time, a deputation headed by Mr. M. H. Dand, made 
 the presentation at his private residence. He died at Alnwick, April 28th, 1877, 
 aged 50. 
 
 Bacl^bou6e S, Co. waviimton. 
 
 THE banking establishment of Messrs. Backhouse & Co. was founded in 1774, 
 now nearly a century and a quarter ago. It has retained its name and 
 maintained its fame to the present day, and holds the proud position of 
 being the only banking firm in the north of England that has achieved this 
 distinction. Darlington was their birthplace as a banking establishment, as it is 
 to-day the seat of their head office, though their various branches now encircle all 
 the business centres of the County of Durham. 
 
 Originally James Backhouse and his son Jonathan were linen and worsted 
 manufacturers in Darlington, and like many other substantial traders in other parts 
 of the country, they extended to tradesmen and farmers almost unintentionally 
 those various accommodations of a banking nature, which eventually culminated in 
 their opening at the date named, a properly constituted bank under the title of 
 James and Jonathan Backhouse & Co. Their London agents were Messrs. Smith, 
 Wright, & Gray, 2 1 Lombard Street. 
 
 Prior to their banking career, amongst other branches of business they were 
 acting as agents to the Royal Exchange Assurance Company. In 1759, September 
 15th, a notice appeared in the local paper stating : — 
 
 " That the Governor and Company of the Royal Exchange Assurance have constituted and appointed 
 James Backhouse of Darlington, Agent and Receiver in their business of Assuring houses, goods, &c." 
 
 The bank was originally situated in Northgate, not far from the present post 
 office. Upon the failure of Messrs. Mowbray, Hollings worth, and Co., in 181 5, 
 their premises on the High Row were acquired by Messrs. Backhouse, who, in 
 1866, erected the very handsome building now occupied by the firm, upon the same 
 site and adjoining properties. 
 
 We are favoured with an extract firom the letter book of James Birkett, of 
 Lancaster, West India Merchant, in which he quaintly announces the opening of 
 
[135] 
 
 this bank. In a communication addressed to William Backhouse (in America) per 
 packet 14th of 5th month, 1777, he says : — 
 
 " Thy brother Thomas was over here the beginning of last month — he told me the family at Darnton 
 were all well. Thy brother James and his son Jonathan has set up a Banking Shop there — banking is 
 now become common in all the considerable towns in the country." 
 
 In 1777 the founder of the bank quitted Darlington for a time, and went upon 
 a "mission" to Ireland. Before me is a letter dated Darhngton, 21st 9 mo., 1777. 
 The front page is written by Jane Backhouse in a cheerful affectionate manner to 
 her absent husband, and contains an interesting account of home life. The back 
 of the sheet is utilised by Jonathan Backhouse with a chatty business letter to his 
 father. It is produced in facsimile, but reduced in size. 
 
 Y^i^%J>Lr 
 
 
 
 V 
 
 Cf(f^/^,^^y^^*^^ (^/^ ^^'S^^^ ^cJ^r^^*^^ ^Z^- 
 
 
 H^ 
 
 ^ f'^f,^^ 
 
 
 // 
 
 
 W^!^<i,C^ /C/^L^^-fJ 9fray/A //A//*^' 
 
 
 
 J^, /M^/4 ^»^/fjli. 
 
 
 ' /^^ 
 
[136] 
 
 A day-book is yet in the possession of the firm, commencing 28th of loth 
 month, 1778, and ending 22nd of ist month, 1780. From its pages is compiled a 
 hst of the principal customers of that time. Judging from the nature of the entries, 
 those names that have an asterisk placed against them were acting as agents to the 
 firm for the distribution of their notes. 
 
 NAMES OF CUSTOMERS, 1778 TO 1780. 
 
 * Smith, John, Thirsk. 
 ♦Harrison, Swainston, Barnard 
 Castle. 
 
 Shephard & Brown, Knaresbro'. 
 
 Atkinson, James, Newcastle. 
 *Chapman, Solomon, Sunderland. 
 
 Smith, Wright, & Gray, London. 
 
 Crompton, Mortimer, & Co., York. 
 
 Baker, Shafto, & Co., Newcastle. 
 
 Swan, Thomas, Bedale. 
 
 Parkinson, Jane, Darlington. 
 *Oyston & Dunn, Durham. 
 *Hutchinson, Thos., Smeaton. 
 *Bradberry & Lonsdale, Reeth. 
 
 Bell, Cookson, & Co., Newcastle. 
 
 Surtees & Burdon, Newcastle. 
 
 Atkinson & Rudman, Newcastle. 
 *Row, Geo. & Leo., Reeth. 
 
 Reeve, John, Stockton. 
 
 Clement, John, Darlington. 
 
 Dunn, Benj., Durham. 
 *Wray, John, Yarm. 
 
 Hutchinson, Thos., Smeaton. 
 
 Mowbray, Wm., Bishop Auck- 
 land. 
 
 Calvert, Robt., Northallerton. 
 *Dawson, Edw., Northallerton. 
 *Emm, Wm., Bishop Auckland. 
 
 Proctor, Jos., Yarm. 
 
 Backhouse, James, 
 
 Backhouse, Dorothy, Lancaster. 
 
 Wilson, Arthington, & Co., Leeds. 
 * Watson Michael, Staindrop. 
 
 Leatham, John, Pontefract. 
 
 Anderson, Wm., Newcastle. 
 
 Clapham, Anth., Newcastle. 
 
 Travis, John, Hull. 
 
 Hartas, Wm., Spaunton. 
 
 Masterman, — , Richmond. 
 *Gibson, Leonard, Richmond. 
 *Hedley, Joshua, Stockton. 
 *Richardson, Henry, Ayton. 
 
 Cooper, Wm., Manfield. 
 *Hirst, Godfrey, Northallerton. 
 
 Collins, Chas. J., Skurrington. 
 
 Sims, Mary, Tottenham. 
 
 King, James, Newcastle. 
 
 Russell, Allan, & Co., Sunder- 
 land. 
 *Oastler, Robt., Thirsk. 
 
 Dove, Chr., Darlington. 
 
 Wright, John, Yarm. 
 *Brown, Geo., North Shields. 
 *Priestman, Hy., Scarboro'. 
 
 Wetherell, John, Field House. 
 
 Seton, Katherine, Northallerton. 
 
 Leach, Pollard, & Co., Bradford. 
 
 Ormston, Mary, Newcastle. 
 
 Pease & Harrison, Hull Bank. 
 
 Garforth, Raper, & Co., York, 
 *Elstob, Luke, Stockton. 
 
 Ward, John, Birmingham. 
 
 Pease, Edw., Jun., Darlington. 
 *Applegarth, J., Jun., Staindrop. 
 
 Lumley, Benj., Stockton. 
 
 Justice Bramwell, Hurworth. 
 
 Sir John Eden, Windleston. 
 
 Edward Shewell & Son, London. 
 
 Chapman, Jane, Whitby. 
 
 Plintoff, John, Newcastle. 
 *Tretwell, John, Boroughbridge. 
 
 Dr. Trotter, Darlington. 
 
 A few extracts from the day book named may prove interesting. 
 
 30th of 10 Mo. Wm. Andeeson, Newcastle.— £100 per John Pickersgill's man.* 
 
 31 of 10 mo. Che. Auton. — 
 By Ragget retd. £50, he 
 being gone to jail. 
 
 20 of 11 mo. Smith, Wright, 
 & Gray, London. — 
 By optionals, £899 lOs.f 
 
 * For many years Pickersgill 
 and Howey were the great 
 carriers of the district; the 
 illustration produced is from 
 the workshop of Thomas Bew- 
 ick. 
 
 + Optionals (see page i7). 
 
1^37] 
 
 21st of 11 mo. Bernaed Ogden, Sunderland. — 
 
 To 12 pair of Stockings £3 6 
 
 „ 1,000 QuiUs, at 9d. per Hd 076 
 
 3 13 6 
 
 nth of 12 mo. RoBT. Jackson, Dumfries. — 
 
 To his Dft. on us at Sight, dated By Advertising in the Dumfries 
 
 11 inst., payable to R. Kemp . . £1 4 6 Journal respecting the Forgery, 
 
 4 times £13 6 
 
 Four Newspapers 10 
 
 14 6 
 
 18th of 12 mo. John Leatham, Pontefract.— By Harding & Mosley, bill retd. £27 16s. 6d. They being 
 bad chaps and would not be seen. 
 
 23rd of 12th mo. Thos. Reed for the Dole.— To Copper £5. 
 
 2nd of 1 mo. 1779. Baker, Shapto, & Co., Newcastle. — 
 
 By Attorneys bill of expenses respecting the forgery . . . . . . £9 2 6 
 
 „ J. Nelsons bill for Chaise and Horses to Hexham and Axwell Park 
 
 respecting the same .. .. .. .. .. .. .. 160 
 
 „ Slacks bill for printing 300 hand bills 12 
 
 „ One Weeks advertising in the Newspaper . . . . . . . . 5 6 
 
 22nd of 2 mo. Benj. Lumley, Stockton. — To | of a Soldier's expenses for assisting in the pursuit of 
 a supposed John the Painter, 8d.* 
 
 28th of 6 mo. John Wethereli,, Fieldhouse. — To 6 Five Guinea Notes per Post-house Boot- 
 catcher, £31 10s. t 
 
 30th of 6 mo. Smith, Wright, & Gray. — By a present for clerks, £5 53. 
 
 2nd of 7 mo. Baker, Shafto, & Co., Newcastle. — By 2 Recpts. from the Bank of Scotland for 9 
 advertisements in 2 papers resptg J. Mathison, £4 2s. 
 
 9th of 7th mo. Query : Did J.B. leave any notes with Swainston Harrison when on his road to 
 Lancaster. Answer : Yea. 
 
 20th of 10. Baker, Shapto, & Co., Newcastle.— To 1 peck of Nuts in the Husks, 1/4 ; 2 Do. Do. 2/4 ; 
 1 out of the Husks, 2/6 ; Cask, lOd. = 7/- ; for and by order of Geo. Waldie. 
 
 * " John the Painter." The Annual Register, Vol. 20, p. 245, gives an account of his trial at Winchester for setting 
 several places on fire, and committing other outrages. It is possible that the name may have come to be used 
 generally to any one who may have committed a glaring crime. In February, 1788, the Newcastle Chronicle 
 advertises a reward for the apprehension of Eobert Koutledge, alias "Bob the Painter," who is suspected of 
 forgery. It seems probable that three firms had agreed to share any expenses that might be incurred regarding 
 forgeries, which were very frequent at this time, and that Messrs. Backhouse had paid a soldier 2/-, one-third of 
 which amount they pass to the debit of Benj. Lumley. 
 
 + " Boot catcher. Boots, a name for the servant in hotels who cleans boots, formerly called Boot catcher, and 
 Boot catch. Boot catcher, a servant at an inn who pulled off the guests' boots." Dr. Murray's New English 
 Dictionary. My friend R. Oliver Heslop adds, "Dr. Murray's latest example of the use of hoot-catcher is 
 in 1761, from Colman's ' Jealous Wife.' Your quotation is interesting as showing a survival of the form as late 
 as 1779. It is just possible that John Clayton in his young days may have rung his bell for the boot catcher ! 
 For the old form would be heard long after it ceased to be written let us suppose." 
 
 R 
 
[^ 
 
 Only five years after their commencement, Messrs. Backhouse & Co. were 
 much troubled with the forgery of their notes, as will be seen by the items 
 extracted from their day book. The following announcement appeared in the 
 Newcastle journal, of September 12th, 1778, and probably was a copy of that 
 
 inserted in the other papers referred to : — 
 
 Darlington, 5th September, 1778. 
 " Whereas two Bank Notes which are Forged appearing to be signed for James and Jonathan Backhouse 
 and Company, by James Backhouse, for Five Guineas each, and to be payable to Henry Gray or bearer 
 on demand at Darlington, or fourteen days after sight at Smith, Wright, and Gray's, bankers, in 
 London, have been presented for payment. The public (and shopkeepers in particular) are desired to 
 attend to the following description of the forgery, and if any suspicious person should ofier any forged 
 notes in payment they are cautioned against receiving them; and they are earnestly requested to 
 apprehend such persons, and give immediate notices to James Backhouse and Company, in 
 Darlington, or to any of the banks in Newcastle. The counterfeit notes are not well engraved, and are 
 discoverable from the real ones. The water mark'd letters in the forged notes appear to have been 
 pressed in by a roller, and the letter n in Bank is reversed in the water mark. The written part 
 (except the number and dates) in the real notes, appears to be engraved in the counterfeit ones, and then 
 run over with a pen and ink. The Figures £5 5s. are very badly done as is the word Bankers, and the 
 n and k in the same word stand very near together. J. Taylor's name (the entering clerk) is much 
 worse done than in the real ones. It has been discovered that a few days ago, a man of a suspicious 
 appearance, between thirty and forty years of age, middle size, dressed in brown clothes, and boots, 
 with his own hair, cut rather short, and who speaks the north country dialect has paid two of the 
 forged notes in the following manner, viz. : — By buying a pair of buckles in one shop, and a yard of 
 muslin in another, or something of small value, and receiving the difference in specie. He was traced 
 from Sunderland to Durham in a chaise on the 28th of August, and from thence the next day to 
 Newcastle, but he dismissed the chaise at Gateshead, to prevent (as is supposed) a discovery of his route. 
 
 Whoever apprehends the Engraver, Printer, Paper Maker, or Publisher of the forged notes, shall 
 upon conviction receive a reward of One Hundred Pounds, to be paid at the Darlington Bank. And if 
 any person concerned in the said forgery will discover his accomplice, or accomplices, he will be 
 entitled to the reward offered, and the utmost interest will be used to obtain the King's pardon. It 
 being strongly suspected that the person above described is lurking in some town in the Counties of 
 Durham or Northumberland, or in the town of Newcastle, all Inn-keepers, Hostlers, and others, are 
 desired to apprehend any person who answers the above description, which will, upon conviction, 
 entitle them to the reward. 
 
 Any persons possessed of Darlington Five Guinea Notes (of the old plate) payable to Henry 
 Gray, and chuse to have them exchanged for new ones,* are desired to apply to Oyston & Dimn, 
 Durham; Wm. Emm, Bishop Auckland; Michael Watson, Staindrop; Swainston Harrison, Barnard 
 Castle ; George and Leonard Eaw, or Robert Bradberry, in Reeth ; Leonard Gibson, Richmond ; 
 Godfrey Hirst, Northallerton; John Smith, Thirsk; Luke Elstob, Stockton; Henry Richardson, 
 Ay ton ; or to John Wray, in Yarm. 
 
 The same advertisement is repeated on September 19th. On October 3rd, 
 1778, appeared the following : — 
 
 " A Forgery. Darlington, September 28th, 17 7S. Whereas certain Bank Notes appearing to be signed 
 by James Backhouse, for James and Jonathan Backhouse & Co., for Five Guineas each, payable to 
 
 ♦ The new notes were made payable to Jolin Wright, and the time of the option was extended to twenty-one 
 days alter date. {See page 47.) 
 
[139] 
 
 Henry Gray, or Bearer, on demand, at Darlington, or fourteen days after sight, at Smith, Wright, & 
 Gray's, Bankers, in London, which are forged, have been circulated, and attempts made to circulate 
 others ; and, whereas, John Mathison of Turdoch, near Gretna Green, in Annandale, in Scotland, 
 Watchmaker, is charged upon oath as one of the principals concerned in the said Forgery, and in 
 uttering several of the said notes, knowing the same to be forged. Notice is hereby given, that any 
 person who will apprehend and secure the said John Mathison shall receive a reward of Fifty 
 Pounds " 
 
 N.B. — The said John Mathison is about 30 years of age, of a middle stature, and strong made 
 though thin ; his face a little marked with small-pox, and one of his legs appears rather thicker at the 
 ankle than the other, occasioned it is supposed, by its having been broke some time ago ; and speaks 
 the Scotch dialect."* 
 
 The firm had a considerable note circulation. They first issued notes for 
 One and Five Guineas, and these were succeeded by others for £i, £^, £io, 
 and £20. So judiciously did they regulate their stock of specie that during the 
 "runs" which occured at various periods, they were able to meet all claims. 
 
 The monetary panics which so seriously affected the banks throughout the 
 North of England in 1793 and 1797, and brought so many of them under pubhc 
 notice; appear to have been tided over by Messrs. Backhouse without their once 
 having to " boycott the public " as had to be done in many other places. The 
 year 1803 was another period of commercial panic, augmented by a very heavy 
 fraud upon the Bank of England by one of their cashiers, Robert Astlett f — which 
 amounted to ;^3 20,000. In July of this year many northern banks stopped 
 payment. Meetings were held in Newcastle, Sunderland, and Durham, at which 
 resolutions were passed binding those present to accept the notes of the local 
 banks, the paper of the Darlington firms being included in the list of notes 
 guaranteed at the Durham Meeting. At Darlington, for the first time since the 
 formation of the Bank in 1774, the inhabitants deemed it necessary to pronounce 
 their opinion on the notes of Messrs. Backhouse. Accordingly at a meeting held 
 
 ♦ Mathison was a notorious character : after committing various forgeries on provincial banks he removed to 
 London, where he took the name of Maxwell, and commenced forging the notes of the Bank of England, which 
 for some time he successfully accomplished. Eventually he was arrested on suspicion, but the evidence against 
 him was so slight that nothing could be proved. He was sent by the bank solicitors in charge of the officer 
 to a neighbouring public house, pending a consultation. While detained, Mathison made a determined effort 
 to escape, which increased suspicion. Those in charge of the case took him again before Sir John Fielding, and 
 further enquiries were msde, when to the utter confusion of the prisoner, the advertisement of the Darlington 
 Bank was produced and he was found to answer the description of Mathison who was suspected to have forged 
 the notes of that bank. This being read to him, and being asked if his name were not Mathison instead of 
 Maxwell, he all at once lost his resolution, turned pale, burst into tears, and, after saying, he found he was a 
 dead man, he added, "And now I will confess all." Mathison afterwards acknowledged the whole of his 
 forgeries, and offered to divulge his method of imitating the water mark for his freedom, but the offer was 
 declined. The wretched man was duly tried, convicted, and sentenced to be hanged, his execution being carried 
 out at Newgate on July 28th, 1779. 
 
 f Astlett was convicted and sentenced to death ; however the penalty was not exacted. 
 
[ho] 
 
 in the Post House, Darlington, Monday, July 4th, 1803, the following resolutions 
 were passed : — 
 
 " We, the undersigned, being satisfied that the proprietors of the two banks in Darlington have always 
 conducted themselves liberally and with service to the public, that the hitherto uninterrupted 
 punctuality of payment will be continued, and that their security (from the extent of their respective 
 property and the limitations of that property to their banking concerns) is unquestionable. Resolved 
 — That it is a proper measure at the present moment to make public our confidence in them, and our 
 resolution to accept their notes as usual." 
 
 In 18 1 5 another great calamity befell the bankers in the county of 
 Durham. Deposits were rapidly withdrawn, gold was demanded for notes, 
 and a third difficulty arose to the solvent banker, namely, the calls made upon 
 him for advances and discount, by firms whose available capital was locked up 
 by the numerous failures of local bankers. Under these circumstances it is not 
 surprising that rumours were afloat as to the stability of Backhouse & Co., but 
 the public voice soon spoke out in their defence. The newspapers of July 29th, 
 18 1 5, have the following: — 
 
 "Messrs. BACKHOUSE AND COMPANY'S BANK.— Having the most perfect confidence in the 
 stability and security of the Bank of Messrs. Jonathan Backhouse & Co., a confidence fully justified by 
 the substantial manner in which they have carried on business uninterruptedly for the space of 
 40 years, We the undersigned of the agricultural interest, think it due to them publicly to state that 
 we consider the establishment of such a bank a real advantage to the county, and that it is our 
 determination to receive their notes in payment to any amount as usual. Darlington, Monday, 
 July 24th, 1815." 
 
 An account of this declaration is given in the following letter from Mr. John 
 R. Ord, of Haughton Hall. 
 
 " My father at this time (1815) banked with Messrs. Backhouse, in whom he had the greatest confidence 
 in every respect. In proof of which he mounted horse and accompanied by a neighbour, Mr. Robert 
 Thornton, called upon every influential gentleman in the district, obtaining in every instance a 
 signature to a Declaration of Confidence in the Banking House of Jonathan Backhouse. The day was 
 Sunday, and at even my father called at the Friends Meeting House at Darlington, where the Quakers 
 were assembled and enquired for Mr. Backhouse. The Verger hesitated— then he whispered — 'Is it 
 about the bank ? ' The interview was at once effected. Early next morning (being the market day) 
 my father rode into Darlington and there beheld large posters having printed upon them the 
 Declaration of Confidence and all the signatures which his loyalty and energy had procured out of a 
 well-spent Sabbath. And the good old bank has continued to flourish." 
 
 Haughton Hall, 
 
 August 17 th, 1893. 
 
 List of signatures obtained by Mr. Ord and Mr. Thornton, in 1815 : — 
 
 Robert Colling, Barmpton. 
 Robert Waistell, Airey Hill. 
 Matthew Waistell, do. 
 
 Robert Thornton, Barmpton. 
 John Jolly, Worsall. 
 Thomas Ord, Newton. 
 
[141] 
 
 List of signatures (continued) 
 
 William Robson, Great Burdon. 
 John Goodburn, Ketton. 
 George Gibson, do. 
 John Smith, do. 
 
 Christopher White, Morton. 
 John Wetherell, do. 
 
 Benj. JefEerson, Beamont Hill. 
 Robert Sheratin, do. 
 
 Henry Angles, Sadberge. 
 Thomas Swinbank, AyclifEe. 
 Wm. Arrowsmith, Sherbum. 
 Robert Addison, Wallworth. 
 John Addison, Borrowby. 
 James Watson, Heworth. 
 James Watson, jun., Heworth. 
 James Page, Eldon. 
 Wm. Seymour, School Aycliffe. 
 Haigh Robson, Coatham House. 
 Thomas Ord, jun., Coatham. 
 Daniel O'Callaghan, Heighington. 
 
 Robert Ord, Newton. 
 
 John Jackson, Burdon. 
 
 Wm. Richmond, Sadberge. 
 
 Nicholas Byers, Ketton. 
 
 Hy. Douglas, Sadberge. 
 
 Jos. Pearson, Burdon. 
 
 John Rawlin, do. 
 
 John White, Barmkin Moor. 
 
 James Alderson, Coatham. 
 
 Richard Maxon, Harrowfield. 
 
 John Stamper, AycliSe. 
 
 John Stamper, Brafferton. 
 
 John Best, Heighington. 
 
 Thos. Fortune, do. 
 
 Wm. Colling, do. 
 
 John Colling, do. 
 
 T. Richardson, Aycliffe Hill House. 
 
 Hy. Dunn, Lovesome Hill. 
 
 Thomas Sowerby, Bishopton. 
 
 W. Stow Stowell, Cockerton. 
 
 On July 26th, 1815, another declaration appeared : — 
 
 "DARLINGTON BANK, Messrs. BACKHOUSE & CO.— A report having been industriously 
 circulated that Messrs. Jonathan Backhouse & Co., Beinkers, Darlington, have been under the 
 necessity of suspending their payments for a short time, the friends of the Bank have great pleasure in 
 assuring the public that there was not the least foundation for such a report, as Messrs. Back- 
 house & Co. have had no occasion whatever either before or since the failure of Messrs. Mowbray & Co. 
 to suspend their payments for a single moment, and it appears but justice to the community at large 
 that they should be informed that the commercial and agricultural interests in Darlington and its 
 neighbourhood have unanimously come forward and testified their approbation and support of Messrs. 
 Backhouse & Co., and that the utmost confidence is reposed in them, a confidence justly merited by 
 the substantial manner in which they have uniformly and uninterruptedly carried on their business 
 for Forty Years. Darlington, July 26th, 1816." 
 
 The proof of the public confidence was as follows : — 
 
 " We, the undersigned, declare that the Bank of Messrs. Backhouse & Co. do uninterruptedly continue to 
 carry on business as usual, and as we believe they are entitled to the fullest confidence of the Public 
 we shall continue to take and pay their notes as usual." The declaration bears 112 signatures. 
 
 In July of the following year (181 6) the public of Newcastle were much 
 astonished by the sudden retirement from business of Sir Chas. Loraine, 
 Baker, & Co. (Tyne Bank). In Sunderland the distress and inconvenience caused 
 by the failure of Messrs. Cook still continued, but a local paper announced that 
 " some relief is expected to be experienced from a bank having been opened there 
 within these few days by Messrs. Backhouse of Darlington." Three years 
 
[I42] 
 
 afterwards another rumour was maliciously set on foot regarding the bank, which 
 was met by issuing a quarto hand-bill to the following effect : — 
 
 300 GUINEAS EEWARD. 
 
 *' WHEREAS, there are strong grounds to believe, that certain evil-disposed 
 Persons have maliciously conspired to prejudice the Public against the Firm of 
 JONATHAN BACKHOUSE & CO., with an evident Intention to injure their 
 Credit as Bankees, a REWARD of 
 
 Three Hundred Guineas 
 is hereby offered, to be paid to any Person or Persons who will give such 
 Information of said Conspiracy, as shall convict the Authors and Promoters 
 thereof. 
 
 Daelington Bank, 
 
 lidlh of 6th month, 1819. 
 
 To meet any special or sudden demand, gold could only be procured by some 
 of the partners posting to London, but great precautions had to be used, or alarm 
 would have been created. The custom of Messrs. Backhouse was to drive quietly 
 off in a gig as if attending some meeting in a local town, and then to proceed to 
 Scotch Corner, a noted place on the North Road, where a post-chaise and four 
 would be in readiness. The accompanying vignette is from the pen of Mr. S. T. 
 Richardson, of Darlington. 
 
 The failure (1815) of Messrs. Mowbray, Holhngsworth, & Co., the principal 
 bankers in Durham, had left that city indifferently supplied with banking accom- 
 modation. Messrs. Backhouse & Co. saw their opportunity and opened a 
 branch there on September i6th, 1815. The first manager appears to have 
 been Mr. Thomas Salter ; at the same time his son Thomas was with the firm at 
 their Sunderland branch. Constant correspondence passed between the two 
 branches ; important letters were from the pen of Mr. E. Backhouse, others 
 written by Thomas Salter, jun., and commence — " Dear Father." 
 
[H3j 
 
 The first current account at Durham was opened by Gilbert Henderson who 
 paid in ^"58 14s., and the first deposit that is entered in the ledger headed 
 " Lodgements on Interest" was made by Mary Kirby for ^"155, on 23rd September, 
 18 1 5. The form of cheque used at Durham at this period is here produced; it 
 is accepted by the manager, Thomas Salter. 
 
 
 //t/a^^/€^*J^ccw?t/(j/ 
 
 At this time Richard Counsellor was acting as Agent for Messrs. Back- 
 house & Co. at Chester-le-Street. Several of his letters are before me, addressed to 
 the Durham branch. I record one that shows the scarcity of silver at this time. 
 
 " Dear Sir, — I have sent John for the Bag of Larger Pieces — he having brought the Bag of 
 
 Sixpences yesterday — if you could allow me to give change to any of my customers who are laying out 
 
 5 or 6 Shillings for goods it would perhaps do me good in Trade as I am scarce of change of my own 
 
 and I dare say 9 or Ten Pounds would be the outside of what I should want. With kind respects, 
 
 RespectfuUy Yours, RICHARD COUNSELLOR. 
 Chester, 2 mo., 28th, 1816." 
 
 In 1823 a doubt existed in the mind of the country banker regarding his 
 liability to pay in gold. A letter passed from the Sunderland to the Durham 
 Branch in which Mr. E. Backhouse says : — 
 
 ♦' Dear Thos., — I should like to know what the views of the Citizens of Durham may be with respect 
 to cash payments. Hast thou any expectation that the 1st of 5 mo.* will produce any demand for 
 gold. As we have no doubt but that Country Bankers have 2 years beyond the Bank of England, 
 according to the declaration of the late Chancellor of the Exchequer, we conceive it to he optional on our 
 part to pay in either Bank (Notes) or Gold. However the payments in Gold when the parties holding our 
 Notes insist upon it, is perhaps best yielded to ; stating at the same time that we do it optionally as a 
 matter of indifference and not worth contending about. This will render the Public less particular 
 and certainly they have no right to demand it, or the Chancellor of the Exchequer is wrong." 
 
 » The day on which " the current gold coin of the realm might be demanded in payment for the Notes of the 
 Bank of England." 
 
[144] 
 
 The resumption of cash payments by the Bank of England is thus 
 announced : — 
 
 London May 8, 1828. 
 
 " Esteemed Friends, — We beg leave to inform you that the Bank have commenced to pay. 
 
 Sovereigns to-day. 
 
 We are your assured Friends, 
 
 Messrs. Backhouse & Co., BARCLAY, TRITTON, BEVAN, & Co. 
 
 Durham." 
 
 It was the custom, even at this time, to remit valuable packets of notes by 
 post. In November, 1821, a letter from their London Agent to Backhouse & Co., 
 Durham, was lost, containing notes to the value of ;^5,ooo. Hand-bills were 
 circulated in London and throughout the country offering a reward of ;^ioo. 
 
 It appears that some malicious rumours regarding the stability of the bank 
 caused a slight run upon it in 1823. It will best be explained by the following 
 letters from Mr. E. Backhouse, of Sunderland, to Thomas Salter, at Durham : — 
 
 Sunderland Bank, Sl/lO mo., 1823. 
 " Dr. Friend T. Salter, — H. Armstrong would yesterday inform thee of a rumour at Newcastle of a 
 pretended run upon us here. I have the satisfaction to inform thee that there is not the slightest truth in 
 that rumour. He says that he understands it originated with a man who had a Dishond. Bill at one 
 of our establishments, and not being accommodated to his necessities adopted this mode of revenge at 
 the Fair, But there were other rumours about other Banks than at Newcastle likewise in circulation 
 all of which having no foundation must speedily die. Bo sure to communicate both to Darlington and 
 to us here anything that affects you, and whether any such rumours have reached Durham." 
 
 The run gave rather more trouble than was at first expected ; a letter dated 
 three days after from the same to the same says : — 
 
 Sunderland, Sjll mo., 1823. 
 "Dr. Thos., — Having got our Bank Notes from London we send thee herewith Two thousand pounds, 
 which with the Stock in thy possession and 200 of Gold per Bearer I hope will be found more than 
 sufficient, for I do fully calculate upon the run subsiding very speedily. On 7th day, I believe it was 
 at its height, and I expect we shall have much less to do to- day and that it will afterwards die. 
 However whether or not we are so prepared with regular and successive daily supplies that we will tire 
 them all out. Therefore keep up thy spirits. Don't be imposed upon by those who hold Deposits, but 
 pay them in Bills. We have therefore sent over about 500 for this purpose and thou will keep the 
 more respectable Bills taken at Durham for this purpose besides. 
 
 Q If the crowd be large and there are many applicants, it is best to pay very slowly and be always 
 
 .w s.:, sure that every transaction is right and duly entered on pai^er- -this is the way to keep the thing 
 ^1^ at arm's length. The bearer will bring us a receipt for the notes and an account of your 
 
 § ^ proceedings. I don't want many words, but take the trouble to write a line or two. 
 
 ^ Thine affectionately, E. B." 
 
 I have no record as to the time that Mr. Salter remained at Durham. A 
 humorous picture entitled "A Peep into the Durham Bank Middle Office, 
 
[ 145 ] 
 
 Feeding Time," will give some idea of the bank and its manager. The sketch is 
 endorsed on the back, " Thomas Salter, drawn by Jonathan Backhouse, 1829." 
 
 Mr. Salter was succeeded in the management by Mr. Henry Taylor. Mr. 
 John Allison followed, and after him came Mr. Barnes, who for many years was 
 held in the greatest respect. 
 
 By the year 1825 the trade of Newcastle had much increased and outgrown 
 its banking accommodation ; Messrs. Backhouse therefore in April of that year 
 opened a branch in Newcastle, under the management of Mr. Jonathan Richardson ; 
 Mr. William Backhouse, one of the partners, taking an active part. The premises 
 were situated at 18, Dean Street (on the east side, a little above the stairs). About 
 the same time they opened a branch at Stockton, and soon afterw-ards extended 
 their borders to South Shields. In December, 1825, trouble again came upon the 
 Durham bankers. Gold was very scarce, and the difficulty of procuring it will be 
 seen in the account of Skinner & Co., of Stockton and Darlington. Doubtless the 
 notes of Backhouse & Co., like those of all other bankers, would be returned upon 
 them more quickly than usual, especially in Sunderland where they had only been 
 established for a few years, but during that time they must have gained the 
 
[h6] 
 
 confidence and good will of the trading community, who deemed it advisable to 
 issue the following manifesto : — 
 
 TO THE INHABITANTS OP SUNDERLAND. 
 "Apprehensive of the distress that must be brought upon this town and neighbour- 
 hood by a total withdrawal of the local circulating medium, and being well aware 
 that the known prudence of Messrs. Backhouse & Co.'s Bank will in the present 
 crisis restrain them from giving that accommodation which the public so 
 imperiously requires, and knowing also that they are in no way connected with 
 any of the recent failures of the Banking Houses in London, We, the undersigned, 
 fully impressed with the injury that must result from the withdrawing of the 
 circulating medium, do declare our perfect and complete confidence in the 
 stability of Messrs. Backhouse & Co.'s Bank, and do solicit them to continue this 
 necessary accommodation to the Public by the Re-issue of their local notes to 
 such an extent as their prudence may dictate, and we pledge ourselves to receive 
 and pay the same in the regular course of business. — Sunderland, 17ih 
 December, 1825." The document bears about three hundred signatures. 
 
 The correspondence of the Durham branch gives evidence of a slight run 
 there, and shows the kindly expressions that were sent to the proprietors of the 
 bank by some of their clients. Cuthbert Rippon writes from Stanhope Castle, 
 December 14th, 1825 : — 
 
 " When I wrote yesterday, I was surprised that the mere failure of Wentworth's bank (York) should 
 have created such ridiculous and unreasonable panic — for the sake of public credit and quiet I trust it 
 may soon subside. Whenever you feel satisfaction in issuing your notes again, will you send me a 
 bill on London payable to B. Oorbett for £66 19s., and send the remaining balance out of £150— say 
 £83 Is. — to me by Watson the carrier, this wiU equally suit me." 
 
 Christopher Rymer writes from Wolsingham, December i8th, 1825: — "I 
 hope you have had few from this quarter with notes. I flatter myself I have 
 prevented many." 
 
 The following offer of assistance deserves to be chronicled : — 
 
 Chester-le-Steeet, 14th December, 1825. 
 
 "Sir,— The notes that I have by me of your Firm I mean to hold for the present, hoping I shall 
 
 not come to any harm. I have near 100 Sovereigns, if they will (be) serviceable to you at this time 
 
 you may have them immediately." 
 
 I am. Sir, your most obedient Servant, 
 
 Mr. Salter, Banker, Durham. RALPH RIDLEY, Chester-le-Street, Stone Mason. 
 
 A run looked imminent at Darlington also. A gentleman now resident in 
 Newcastle informs me that he was then at school in Darlington, and resided with 
 a relative, Mr. Almond, who kept the " Green Tree " Inn. The panic was impressed 
 upon his youthful mind by the fact of the Richmond carrier Hudson, locally 
 known as " Jyneck," sleeping at the inn, and announcing his intention to be first at 
 the bank door when opened in the morning. Early in the day the carrier took 
 his place long before the bank was opened, my informant swelling the crowd of 
 bystanders who congregated on the High Row. Eventually the door was unlocked ; 
 
[_i47j 
 
 one at a time the customers were to be admitted — the carrier being the first to 
 enter. When he reached the counter his fears were allayed — bushel measures were 
 standing heaped up with sovereigns — the carrier retired, and from the bank steps 
 shouted — " Lads, there's no fear — there's bushels of gold." The windows were 
 thrown up that through the iron railings the anxious applicants might see that the 
 carrier's statement was correct, and confidence was soon restored. A view of the 
 bank premises will be found in the account of Messrs. Richardson, Mowbray, & Co.; 
 it confirms the probability of this story. The following hand-bill was published 
 at this time : — 
 
 50 
 GUINEAS 
 
 Reward. 
 
 WHEREAS, 
 
 SOME evil disposed Persons continue industriously to propagate a 
 MALICIOUS AND UNFOUNDED REPORT throughout the Country 
 that the DARLINGTON BANK hath STOPPED PAYMENT, 
 A REWARD OF 
 
 FIFTY GUINEAS 
 
 WILL BE GIVEN BY 
 
 J. Backhouse & Co. 
 To any person or persons who will give such evidence as shall convict 
 the authors of the above malicious Report. 
 
 Evidence has already been obtained of three persons who have taken 
 an active part in circulating the Report, against whom legal proceedings 
 will be immediately instituted, upon the evidence which has been obtained. 
 
 Darlington, 1st Mo. (January) 4th, 1826. 
 
 In 1836 the Newcastle business of the firm was disposed of to the Northumber- 
 land and Durham District Bank, who, on June ist of that year, commenced 
 business in the premises then occupied by Messrs. Backhouse at the south-east 
 corner of Grey Street, Mr. Jonathan Richardson becoming manager, and Mr. 
 Thomas Backhouse, of York, being made a director. Shortly afterwards the 
 firm's branches at Sunderland and South Shields were also transferred to the 
 District Bank. 
 
 The immense increase of trade in the Darlington district during the last half 
 century, must have led to great demands for banking accommodation, and Messrs. 
 Backhouse have ever been ready to meet the requirements of the public. A short 
 time ago the partners, like some other private banks in the neighbourhood, 
 commenced the issue of an annual balance sheet ; a perusal of the last will show 
 the extensive nature of their transactions. It will be found at the end of this 
 account of the bank. 
 
[H^ 
 
 The centenary of the bank M'^as celebrated in 1874, when a bonus of 10 per 
 cent, upon their salaries was presented to all the employes of the establishment. 
 
 No account of the firm would be complete without mentioning the story of 
 Lord Darlington trying to break the bank. The Darlingtonians state that early in 
 the present century some dispute arose between the Earl and the Quaker Banker. 
 The former gave notice to his tenants that they were to pay their rents in 
 Backhouse's notes, intending to allow them to accumulate until he had collected a 
 greater number than the banker could pay in gold upon sudden demand. 
 
 This project of the nobleman became known to Jonathan Backhouse, who 
 immediately posted to London, obtained a large supply of bullion, with which he 
 hastened back to Darlington. It is reported that when passing through Croft, one 
 of the fore wheels came off the chaise and rather than wait to have the wheel 
 replaced, the banker piled the gold at the back part of the chaise, so " balancing 
 the cash," and driving into Darlington upon three wheels. By this sudden cojip 
 the bank was so well provided with specie that when Lord Darlington's agent 
 presented a very large parcel of notes, they were all promptly cashed, the Quaker 
 quietly remarking : — " Now, tell thy master that if he will sell Raby, I will pay 
 for it with the same metal." The incident has been well illustrated by Mr. Samuel 
 T. Richardson in a spirited sketch here produced. 
 
 HOfi^ J B ACK HOUS E & Co. B y1 L^ NCED T (1 E CASH 
 
 S/XTY YEJRi AGO 
 
 The same gentleman has immortalised the story in verse, but want of space 
 prevents my inserting it. Hitherto the incident of the wheel coming off upon Croft 
 
[149] 
 
 Bridge has been looked upon as traditional, but an inspection of the books for 1819 
 shows the following entries : — 
 
 " 1819, 6 m., 25th. To Bank and Cash to London, ^32,000," and on 31 of 
 7th mo.. Profit and Loss Account is debited " £2. 3s. — Wheel demolished." 
 These entries lead us to believe that the incidents related did occur, and that the 
 surplus cash was returned to London. 
 
 It is stated that a run upon the bank was caused by their closing on a certain 
 occasion at one instead of three o'clock. A farmer from the dales, during a time 
 of panic, came into Stockton in the afternoon and found the bank doors shut. He 
 returned home but did not neglect to tell everyone he met that Messrs. Backhouse's 
 bank was closed. This led to a run upon them. 
 
 The general panic of 1847 was also felt in Darlington. In one day the firm 
 was drawn upon by depositors and note holders to the extent of ;^2o,ooo. 
 
 An interesting and amusing story of Mr. Backhouse and a " Commercial " 
 was told of the late Jonathan Backhouse by Joshua Monkhouse of Barnard Castle, 
 and vouched for by him as having actually taken place. 
 
 " Before the time of railways, near the beginning of the century, the commercial traveller of that day 
 made his visits to the towns of the County of Durham cither by mail coach or other conveyance, and 
 sojourned for some days in each town, where he was an important person, especially at the head hotel 
 or hostelry of the place. It so happened that one of those gentlemen, after having dined freely at 
 the " King's Head," Barnard Castle, was boasting to a company present in the commercial room of his 
 own importance and wealth, and exhibiting in proof a sheaf of bank notes taken on his journey. 
 Jonathan Backhouse, attired in the usual dress of the Society of Friends, unknown to the rest of the 
 company, was in the room quietly reading his newspaper, when he was attacked by the wealthy 
 commercial, and by a series of sarcastic remarks held up to ridicule as a man out of harmony with the 
 spirit of the time and place. Following up this raillery the commercial, displaying his handful of 
 notes, offered to bet the Quaker £5 or any sum, that he could not produce as much money as he was 
 exhibiting. Mr. Backhouse after a great deal of banter said //C did not bet, but to show his indifference 
 to money offered to put a £5 note in the fire if the commercial would do the same. Suiting the action 
 to the word Mr. Backhouse took out a £5 note and put it into the fire. The commercial, not wishing 
 to be behind, did the same. Mr. Backhouse offered to repeat the process, but the commercial, 
 considerably cowed, declined ; when Mr. Backhouse quietly thanked him for having burned one of his 
 (Mr. Backhouse's) bank notes for which he had received £5, while the note he (Mr. Backhouse) had 
 burned was on his own bank, and had only cost him the paper. 
 
 Since the formation of the bank there have been seventeen partners, sixteen 
 of whom have borne the surname of the founder, and the one exception, the 
 present Mr. Edward Backhouse Mounsey, is the son of a daughter of the house. 
 Personally and as a firm, their long standing, private merit, and great general 
 interest in every movement for the good of Darlington or its people, have been for 
 
[150] 
 
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[152] 
 
 SIGNATURES. 
 
 /^^^^ 
 
 9yf^^^^i> 1721-1798. 
 
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 826. 
 
 Cl^^k^^^je^^yzf CUtAyK^^ 1757-1804. 
 
 /vi^^<^^?^a^^i>^^^^^^:J^W^.Aiii^-^^ 1 779 -1 844. 
 
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 a^i^^^^^^t^^-^'^^^''^^ 
 
[m] 
 
 years so well known that it is unnecessary to enlarge upon it here. The county 
 histories, " The Durham Thirteen," and many other publications contain interesting 
 records of various members of the family. I show in Pedigree form the names of 
 the partners. A most voluminous and exhaustive ^.mily history has very recently 
 been published, entitled " The Descendants of John Backhouse, Yeoman, of Moss 
 Side, near Yealand Redman, Lancashire." It is compiled by Joseph Foster, Hon. 
 M.A., Oxon. Its pages contain much interesting matter. The Backhouses have 
 been members of the Society of Friends from its foundation, and suffered much for 
 conscience' sake, accounts of which will be found in " Besse's Sufferings of the 
 Quakers." 
 
 As previously stated, the firm was founded in 1774 by James Backhouse and 
 his son Jonathan. James, second son of James the founder, came of age in June, 
 1778, when he was most probably admitted to the firm, as on the 5th September 
 of that year they state that their notes were signed for " James and Jonathan 
 Backhouse atid Company!' In the Books of Messrs. Davison-Bland & Co., in 
 December, 1787, they are recorded as " James, Jonathan, and James Backhouse." 
 The youngest partner, James, died in 1804 ; he left a family of four sons and six 
 daughters, but none of his descendants entered the bank. 
 
 James, the founder, died in 1798, when the style of the firm became 
 "Jonathan Backhouse & Co.," which title it has since retained. Jonathan 
 (son of James), one of the original partners, married in 1774 Ann Pease. He 
 died in 1826. In due course he was succeeded by his five sons, Jonathan, 
 William, Edward, James, and John. Jonathan was born 1779, married April 
 23rd, 181 1, Hannah Chapman, daughter of Joseph Gurney of Norwich. He was 
 a shrewd business man, and to his foresight and boldness of action, Darlington and 
 indeed the whole north of England are under lasting obligation. In 1818 two 
 schemes for connecting Stockton with the Auckland coal-fields, were under the 
 consideration of the good people of Darlington. On November r3th, a 
 meeting was held in the Town Hall for "taking into consideration the Committee's 
 report of the survey, taken a few years ago by Mr. Rennie for a canal, and lately 
 by Mr. Overton for a railway." Before me is a full report of the proceedings, and 
 a careful perusal of it shows the position which Mr. Jonathan Backhouse took. 
 He was greatly in favour of the Railway Scheme, and in a long speech in which 
 his arguments are brought forward in a most lucid manner, conclusively shows 
 the advantages of the contemplated railway, and the probability of the substantial 
 return that investors may reasonably anticipate from such an undertaking. 
 The railway scheme was carried at the meeting and a committee appointed to 
 promote the matter, the names of Thomas, Edward, and Jonathan Backhouse, Jun., 
 
[154] 
 
 appearing upon the list, the last-named gentleman being appointed treasurer. 
 The matter was carried forward with such energy that the first rail was laid May 
 23rd, 1 82 1, and the Stockton and Darhngton Railway, the first in the kingdom., 
 opened September 27th, 1825. ' 
 
 Mr. Jonathan Backhouse, jun., lived until 1842, by which time he must have 
 seen rapid strides in the railway system. 
 
 Edmund Backhouse, the present senior partner, was born November 28th, 
 1824, and educated at Grove House, Tottenham, London, He acquired his first 
 knowledge of banking in the house of his relatives, Messrs. Gurney of Norwich. 
 He subsequently returned to Darlington and took an active part in the management 
 of the bank's affairs. In September, 1848, he married Juha Mary, daughter of 
 Charles Fox, Esq., of Trebah, near Falmouth. For many years Mr. Backhouse 
 has been a magistrate for the North Riding of York and for the County of 
 Durham. By the Reform Bill of 1867 Darlington was granted a representative 
 in the House of Commons, and Mr. Backhouse was most fittingly chosen as the 
 first member. He sat for the town from 1868 to 1885. 
 
 The other partners, as will be seen on the pedigree sheet, are James Edward 
 Backhouse, Jonathan Edmund Backhouse, and Edward Backhouse Mounsey. 
 
 BACKHOUSE, J., & 00. (bankees, darlington and beanches), Balance-sheet, 31st December, 1893. 
 
 LIABILITIES. 
 
 Current and deposit accounts . . . . . . . . . . £2,993,410 2 9 
 
 Drafts and acceptances outstanding . . 
 Notes in circulation 
 
 Liabilities to the public 
 
 Partners' and sundry accounts, including rebate on bills 
 
 Capital and reserve 
 
 Contingent liability in respect of the Baring Guarantee Fund, £2,500. 
 
 ASSETS. 
 
 Cash at head office and branches and with bankers, £641,399 2s. ; cash at 
 
 call and short notice, £350,000 . . 
 Investment — British and Indian Government treasury bills and exchequer 
 
 bonds, £615,643 2s. 3d. ; consols (£126,250), English railway 
 
 debenture stocks, and bonds of, and guaranteed by, the Indian 
 
 Government, £225,157 7s. 5d. . . 
 
 (£20,000 consols are lodged as security for County Council Treasurerships.) 
 London Brokers' bills discounted 
 Advances to customers, bills discounted and loans 
 Bank premises at head office and branches, with adjacent properties 
 
 36,796 8 
 
 45,375 
 
 3,075,581 3 5 
 
 114,438 7 
 
 250,000 
 
 £3,440,019 4 
 
 £991,399 2 
 
 840,800 9 8 
 
 181,914 15 
 
 1,333,030 5 
 
 92,874 12 
 
 £3,440,019 4 
 
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[155] 
 
 Balder, Sbafto, ©rmston, Cutbbert, S. Xamb, iRewcastie-upon-u^ne. 
 
 TYNE BANK. 
 
 Founded 1777. Partners. Declined Business 1816. 
 
 ^ohn Baker. 
 Thomas Shafto. 
 Jonathan Ormston. 
 William Cuthbert. 
 
 Joseph Lamb. 
 George Baker. 
 R. N. Lynn. 
 John Hedley. 
 
 Sir Wm. Loraine. 
 Sir Chas. Loraine. 
 — Pearson. 
 Thos. Maude. 
 
 THE Newcastle Chronicle of March 22nd, 1777, announces :— " We desire to 
 inform the pubhc that we have opened a BANK (called the " TYNE BANK " ) 
 near the Bridge End, in Newcastle, for the transacting of the Banking 
 Business in all its Branches. — John Baker, Thomas Shafto, Jonathan Ormston, 
 William Cuthbert, Joseph Lamb." 
 
 Like all bankers of their day, they issued notes. One for ^5 here produced 
 is an early example. 
 
 X V ^^^ ///^' .-^v^' /^/^f^/trn ^/'///r //// 
 
 :/'iiDe 
 
 t 
 
 i' '//^^'B-6 
 
 /j/r////i/a//7^^^^n 
 
 A very few months after their opening they were troubled with the forgery 
 of their notes. On October 4th, 1777, a notice appeared in a Newcastle paper 
 which stated : — 
 
 " The forgeries lately committed upon the Tyne Bank in the Five Pound notes, we are informed has been 
 attended with no inconvenience to the Public, as that Bank has paid every forged note which has been 
 presented, and they are now issuing five pound notes from a beautiful new plate, very different from 
 the old one. The forged notes discovered to be uttered do not amount to one himdred pounds ; and as 
 
[^56] 
 
 the most diligent enquiries have been made at every place within the circulation of these notes, it is 
 certain that there are few, if any, not got in." 
 
 An unfortunate individual was arrested in Westmoreland on suspicion of 
 uttering some of these forged notes, but upon the case being investigated, he was 
 found "not guilty," and honourably acquitted. 
 
 The Tyne Bank is named in the Newcastle Directory of 1778 as occupying 
 premises " in the Close near the Tyne Bridge." 
 
 The Newcastle Chronicle for August 30th, 1783, has the following adver- 
 tisement : — 
 
 " Bank Notes Lost or Stolen. — Whereas on the 14th December last a letter was sent to Mr. Houey, 
 directed to Mr. Nathaniel Handasyde, Wooler, containing Three hundred Pounds in Five Pound Tyne 
 Bank notes, No. E2401 progressing to and with E2460 dated 18th October, 1782, signed Joseph Lamb, 
 which have not yet appeared. 
 
 It is requested that the Public will be particularly attentive to any of the above numbers if 
 offered in Payment, and give immediate notice to Mr. Nathaniel Handasyde, Wooler, or to the Tyne 
 Bank, Newcastle, so as it may be discovered by whom they are circulated." 
 
 It is reported that the original partnership only lasted for a few years, when 
 material changes occurred. This would probably be at the death of John Baker 
 in 1784. On July 30th, 1788, a letter sent by the "Committee of Bankers" is 
 signed " Baker, Hedley, & Co." This must have been George Baker and other 
 partners. At the meetings of the Bankers' Association in 1790-2, the Tyne Bank 
 is represented by Mr. Lynn and Mr. Lamb. In 1790 they address Messrs. 
 Lambton & Co. regarding the payments of their weekly balance, and sign their 
 letter " Baker, Hedley, & Co." 
 
 The Directory for 1787 says : — "Tyne Bank — North end of Tyne Bridge" 
 — and in 1790 we find, " Tyne Bank, Baker, Hedley, & Co.," at the same address. 
 In 1 79 1 they were receiving subscriptions for the abolition of slavery. 
 Little beyond these announcements is known of their business engagements, 
 until the panic caused by the scarcity of gold in 1793 brought them before the 
 pubhc. On the 8th of April in that year, they, with the rest of the banks in the 
 town failed to open their doors, and for some little time had to suspend payment. 
 At the memorable meeting held on the 8th of April, (see page 48) it was 
 unanimously resolved that the notes of this bank be accepted as usual, a great 
 number of signatures being affixed to a document pledging support ; and a 
 committee appointed to investigate its affairs duly reported that they found " a 
 stability beyond our most sanguine expectations," and generally urged patience 
 and forbearance. Cash payment was resumed on Saturday, April 20th. After 
 
[157] 
 
 the panic, Baker, Hedley, & Co. write to Messrs. Lambton & Co. suggesting the 
 amalgamation of the two firms. Messrs. Lambton's answer (see Lambton & Co.) 
 is addressed to George Baker, Esq., and Robert Newton Lynn, Esq. 
 
 Some time prior to 1795, Sir William Loraine joined the bank. In that year 
 the Tyne Bank is recorded as "at the Foot of the Flesh Market," trading as 
 " Sir William Loraine and partners." 
 
 In 1797 another panic occurred which caused all the banks in the town again 
 to suspend payment. Public meetings were held and guarantees given very much 
 in the same way as in 1793, and cash payments were soon resumed. The partners 
 in the "Tyne" then appear to be Sir Wilham Loraine, Baker, Pearson, and 
 Maude. 
 
 The fortunes of this house are a blank until a further panic in 1803 brings 
 them once more before the public, when the programme of 1793 and 1797 was 
 again enacted. 
 
 In 181 1 their notes were signed " For Sir C. Loraine, Self, Pearson, Maude, 
 Loraine, & Co. Geo. Baker." Three years later the signature is " For Sir Chas. 
 Loraine, Bt., Baker, Pearson, Maude, Loraine & Co. Wm. Loraine." In 181 5, 
 the failure of two local banks called forth another guarantee that the notes of this 
 bank would be accepted. In the following year the firm suddenly declined 
 business. The Newcastle Chronicle of July 27th, 18 16, says : — 
 
 " On Tuesday last, a strong sensation was produced in the town and neighbourhood by the unexpected 
 event of Sir Chas. Loraine, Bart., Baker, & Co., announcing to their connexion that it was their 
 intention to decline the business of Bankers." The following advertisements appeared : — 
 
 Newcastle-upon-Tyne, July 23rd, 1816. 
 " Sir Chas. Loraine, Bart., Baker, & Co., feeling the Inconvenience arising from the present agitated 
 State of the Public Mind respecting the Business of Bankers have determined to decline that Business. 
 At the same Time they assure their Friends and the Public, that the Funds of their Bank are fully 
 adequate to meet every Demand without requiring the Aid of the real Estates of the Partners ; they, 
 therefore, request the Indulgence of the Public, for a reasonable time, to enable them to make the 
 necessary Arrangements for the Payment of every Claim upon them." 
 
 Newcastle, 24th July, 1816. 
 " At the Eequest of Sir Chas. Loraine, Bart., & Co., we have this Day investigated the affairs of their 
 Bank, and are satisfied of their stability. We also have to observe that it does not appear to us that any 
 of the Partners have been engaged in any Trade or Speculation whatever ; but the Funds of the Bank 
 have been solely appropriated to the Banking business, in accommodating the Commercial and 
 Agricultural Interests. Wm. Clark, Wm. Thomas, Joseph Lamb, Wm. Armstrong."' 
 
 The issue of these notices evidently caused a run upon the other banks, and 
 on the same day a notice was published with signatures attached of those who 
 
[158] 
 
 £4,000 
 
 S. Hodson, By well 
 
 .. £3,000 
 
 3,000 
 
 Nathaniel Clayton, Chesters . . 
 
 . . 2,000 
 
 5,000 
 
 Jacob Maude,' Sellaby. . 
 
 . . 5,000 
 
 5,000 
 
 William Ogle, jun., Causey Park 
 
 . . 3,000 
 
 5,000 
 
 H. Lamb, Ryton 
 
 . . 3,000 
 
 5,000 
 
 John Hunter, Hermitage 
 
 . . 3,000 
 
 3,000 
 
 T. E. Headlam, Gateshead 
 
 . . 2,000 
 
 2,000 
 
 William Burrell, Broome Park 
 
 . . 2,000 
 
 1,000 
 
 George Waldie, Hendersyde Park 
 
 . . 5,000 
 
 2,000 
 
 Charles Bacon, Styford . . 
 
 . . 3,000 
 
 2,000 
 
 W. Trevelyan, Netherwitton . . 
 
 . . 3,000 
 
 3,000 
 
 J. R. Fenwick, Durham 
 
 . . 1,000 
 
 1,000 
 
 
 
 would take their notes, while, to allay the public excitement as far as possible, 
 the following announcement was made : — 
 
 " Sir Chas. Loraine, Bart., Baker, & Co., Bankers, having signified to their Friends and the Public 
 their Determination to decline the Banking Business, We the undersigned do hereby severally under- 
 take and agree to guarantee the Payments of their Bank to the extent of the Sum set opposite to 
 our respective Names." 
 
 Charles M. L. Monck, Belsay Castle 
 
 George Silvertop, Minster Acres 
 
 Dixon Brown, Benton . . 
 
 Wm. Clark, Benton House 
 
 Charles John Brandling, Gosf orth House 5,000 
 
 John Walker, Wall's End 
 
 Henry Witham, Lartington . . 
 
 William Cuthbert, Benwell 
 
 George Gibson, Stagshaw 
 
 Joseph Lamb, Lemington 
 
 Edmund Craster, Preston 
 
 Shaf to Craster, Craster . . 
 
 C. J. Clavering, Riddlehamhope 
 
 How the liabilities of the firm were met, I have no record. A William 
 Loraine of Newcastle-upon-Tyne, banker and coal-merchant, became bankrupt, 
 April 30th, 1 84 1. Probably he was one of the partners in the Tyne Bank. The 
 marriage of one of their staff is thus recorded : — " Mr. Walton, clerk in the Tyne 
 Bank, married to Miss Pollard, daughter of the late Mr. Pollard, flax-merchant, 
 January 19th, 1788." 
 
 JOHN BAKER.— One of the family of Bakers of Crook and Elemore, 
 CO. Durham. He married on July 3rd, 1762, Miss Read of Hertford. In 1778 
 besides being a banker he was carrying on business in the Broad Chare, Newcastle, 
 as a coal fitter, and was an alderman of the town. In 1760 he was chosen Sheriff, 
 and in the same year he erected "Tynemouth House" on the green at Tynemouth, 
 as is testified by the date over the door. 
 
 In 1768 Mr. Baker was chosen Mayor of Newcastle-upon-Tyne, and again 
 in 1776 the same honour was conferred upon him. He was twice married, but 
 he left no issue. He died Saturday, February 7th, 1784, and on the nth his 
 remains were interred with great pomp in All Saints' Church. "The following 
 gentlemen were supporters of the pall : — Charles Atkinson, Esq. ; J. C. Blackett, 
 Esq. ; Edward Mosley, Esq. ; Aubone Surtees, Esq. ; Francis Forster, Esq. ; Hugh 
 Hornby, Esq. ; John Hedley, Esq. ; and William Gibson, Esq." These pall bearers 
 are worthy of note. They were all aldermen except Mr. Gibson, and several 
 of them were bankers. 
 
[159] 
 
 ROBERT ORMSTON.— His father, Jonathan Ormston, was a member of 
 the Society of Friends. In 1773, Ormston and Lamb were in business in the Close. 
 About this time, 
 
 " A man, who had lodged a few Days at a Public house, on the Keyside went into Messrs. 
 Ormston's and Lamb's shop in the Close, under Pretence of purchasing some Goods for which he 
 tendered a Five Pound Scotch Bank-note, but Mr. Lamb suspecting the same to be forged desired him 
 to wait a little in his Shop until he stepped out to speak to a Friend, and immediately communicated 
 his suspicion to a magistrate, who ordered an officer to apprehend him, but the stranger suspecting a 
 Discovery, thought proper to walk oS before the officer or Mr. Lamb got to the Shop." 
 
 The Newcastle Directory for 1778 announces : — "Ormston and Lamb, soap 
 makers. Close (middle)." Robert Ormston, born 1748, was of Healey Hall and 
 No. 5 Saville Row, Newcastle, and died 8th October, 1836, aged 88. His wife 
 Catherine, died May i6th, 1847, aged 92. His sister Ann (daughter of Jonathan) 
 married George Waldie of Kingswood on the river Allen and Forth House, 
 Newcastle. Their daughter Jane, bom 1792, spent the early years of her life 
 amongst her mother's relations, her first five years being passed at Tynemouth. 
 She became noted as an artist and authoress. In 1821 she married Capt. George 
 A. Watts, R.N., and resided at Haughton Grange near Darlington. She died July 
 6th, 1826. Her accomplishments were sufficiently noted to gain her a place in 
 " Me7i of Mark 'twixt Tyne and Tweed." 
 
 Robert Ormston (2) son of the above, was of Healey Hall and 5, Saville Row, 
 where he died in 1882 at an advanced age. The house and furniture were left to 
 his relative Mr. R. O. Lamb. I am informed that in one of the attics, at the time 
 of his death, were many of the early books of the old " Tyne Bank." They were 
 left to his executors, the late Mr. Aldam of Frickley Hall and Sir George Waldie 
 Griffith, who after duly examining the books and papers, ordered their destruction. 
 Mr. Ormston in his youth had some banking training to fit him for a mercantile 
 profession.* 
 
 WILLIAM CUTHBERT.— It is difficult to identify this gentleman with 
 certainty. In Mr. Welford's book upon " St. Nicholas' Church, Newcastle-on-Tyne, 
 its Monuments and Tombstones," an account is given of a tablet erected by John 
 Cuthbert to the memory of John William Cuthbert, both of whom had been 
 barristers-at-law, and Recorders of the town, but the dates are too early to admit 
 of their being concerned in the Tyne Bank. 
 
 The Newcastle Directory for 1778 has — " William Cuthberts, Attorney-at-Law, 
 Pudding Chair." A correspondent favours me with a tragic account of the banker. 
 
 * For many years this family possessed two letters written by Oliver Cromwell on the eve of the battle of 
 Dunbar. One is dated " Dunbar 2d Sep 1650 " and addressed to " Sir Arthur Haselrig at Newcastle or 
 elsewhere." At this time Sir Arthur was Governor of the town. The letters were first mentioned by Brand in 
 his " History of Newcastle-upon-Tyne," and subsequently quoted by Thomas Carlyle in "Cromwell's Letters 
 and Speeches." 
 
[^ 
 
 He writes : — " The Cuthbert of that day was a very clever man — a great lawyer, 
 but owing to some little row in the Back Parlour of the Bank, he shot himself." 
 
 JOSEPH LAMB. — He was born in 1732, and was descended from the younger 
 branch of the Lambs of Seat Hill, Cumberland. He married, first, the heiress of the 
 Humble family of Ryton, by whom he had two daughters who died in infancy ; 
 secondly, Sarah, daughter of Warren Maude of Sunnyside, Sunderland. He had 
 estates at West Denton, Northumberland, and Temmon, Cumberland. His son, 
 Joseph Lamb of West Denton and Temmon, J.P. and D.L., born nth November, 
 1 78 1, married May 4th, 1824, Ameha Mary, daughter of Joseph Westbrook 
 Michael, of Stamford, Lincolnshire. He died 8th October, 1859. Several children 
 were the issue of this marriage ; their fifth son Robert Ormston Lamb, born 5th 
 November, 1836, J.P., Co. Durham, is one of the principal coal owners of 
 the north of England, and chairman of the coal trade. Mr. F. H. Lamb, for 
 many years master of the Newcastle and Gateshead Harriers, is of the same 
 family. 
 
 JOHN HEDLEY.— Sheriff of Newcastle, 1766-7 ; Mayor, 1777-8 and 1788-9. 
 Elected an Alderman 1777 in place of Sir Walter Blackett. In Newcastle Directory 
 for 1787, we find — "JohnHedley, Esq., fitter; Office, Trinity Lane, Quayside." 
 He had been of the Common Council long before the Newcastle Chronicle, of March 
 8th, 1777, announced his appointment as Alderman, adding, "The prisoners for 
 debt in Newgate return their most humble thanks to John Hedley, Esq., for two 
 guineas, on account of his being made an Alderman of this town." He died 
 January 3rd, 1797. 
 
 Sir WILLIAM LORAINE.— The family were first of Durham and then of 
 Kirkharle in Northumberland. The tourist of to-day may still see a stone in the 
 glebe ground, a little west of the present way from the mansion house to the 
 church of Kirkharle, which bears the following inscription : — " This stone was set 
 up in the place of an old one by Sir William Loraine, Bart., in 1728, in memory 
 of Robert Loraine, his ancestor, who was barbarously murdered in this place 
 by the Scots in 1483, for his good service to his country against their thefts and 
 robbery, as he was returning from the church alone, where he had been at his 
 private devotions." Interesting accounts of the family will be found in " Men 
 of Mark 'Twixt Tyne and Tweed." 
 
 GEORGE BAKER.— He was the only son of George and Judith Baker of 
 Elemore, and was born in 1753. He succeeded to his father's estates in 1774, and 
 
l^ 
 
 appears to have entered the bank after the death of John Baker in 1 784. He has 
 been styled " a genuine representative of the hunting and cockfighting squires of 
 the last century." The following conversation is said to have passed between him 
 and Mr. Surtees the historian : — " Mr. Baker : ' I wonder Mr. Surtees, why you 
 spend so much money and time over a History of Durham.' ' I wonder Mr. Baker/ 
 was the reply, ' why you spend so much money and time in following a pack of 
 hounds after a poor hare.'" In 1815 he was High Sheriff of Northumberland. 
 Mr. Baker died May 15th, 1837, in his 84th year. According to directions left in 
 his will he was buried in Pittington Church-yard and not in the family vault 
 within the church. The following inscription was placed upon his tombstone : — 
 " Here lies the last of the George Bakers of Elemore Hall, in the County of 
 Durham." 
 
 THOMAS MAUDE. — He belonged to a family who were related to various 
 north-country bankers. His grandfather, Warren Maude of Sunnyside was a 
 noted coal fitter, whose daughters are commemorated in local song. 
 
 " We'll all away to Sunnyside, 
 To Sunnyside, to Sunnyside ; 
 We'll all away to Sunnyside 
 To see the fitter's maidens." 
 
 ' Hey, skipper, our fitter 
 Haes some bonnie maidens ; 
 We'll all away to Sunnyside 
 To see our fitter's maidens." 
 
 One of the "bonnie maidens" became the second wife of Joseph Lamb, an 
 original partner in the Tyne Bank. It was probably through this marriage that 
 Thomas Maude subsequently became a partner. His father, Thomas (second son of 
 Warren Maude), bom 1733, settled in Newcastle, and on January nth, 1766, was 
 elected Master of the Trinity House. He married in 1753, Margaret, daughter of 
 John Holmes of Kendal, who died while mayor of that town. Their son Thomas 
 Maude, afterwards a partner in the Tyne Bank, was born in 1 770, and married in 1 796, 
 Jane, daughter of Henry Roxby of Clapham Rise, Surrey, and niece of Sir James 
 Sanderson, Bart., by whom he had three sons, (i) Rev. Henry Roxby Maude, 
 LL.B. ; (2) Thomas Maude, M.A., of the Middle Temple, author of a well-known 
 poetical work ; and (3) James Maude. He was the nephew of Joseph Lamb, 
 and by his marriage became connected with the Burdon family. Richard, son of Sir 
 Thomas Burdon of Jesmond, married the only daughter and heiress of Sir James 
 Sanderson, Bart., and adding the name of Sanderson to his own, founded the 
 modern family of Burdon-Sanderson. Mr. Maude afterwards resided at the 
 Woodlands, near Harrogate, and died January 28th, 1831, aged 61. His widow 
 died December nth, 1833. 
 
[I62] 
 
 Bat0on, Bern?, Xangborn, S, milBon. JSecwicn-upon^Trwee^. 
 
 TWEED BANK. 
 
 Founded about 1821. Partners. Failed 1841. 
 
 William Smith Batson. jfohn Langhorn. 
 
 William Berry. John Wilson. 
 
 SOME little time after the failure of the Northumberland Bank (Sir Francis 
 Blake, Reeds, & Co.) in 1 821, two of the partners, namely, Wilham Smith 
 Batson (who was a partner in all the branches of the bank), and William 
 Berry (who appears to have been a partner in the Berwick branch only), 
 constituted a bank at Berwick under the style of the " Tweed Bank." The firm 
 was strengthened by the addition of Mr. J. Langhorn, who had been a partner in 
 the " Berwick Bank." Subsequently Mr. John Wilson joined them. It is stated 
 that several of the partners were engaged in the whale trade, and in that business 
 lost large sums of money. The notes for January ist, 1840, bear the signature 
 of Batson, Berry, Wilson, and Langhorn. They had a branch at Alnwick 
 which, in 1837, was under the management of Mr. Joseph Hardy. Misfortune 
 overtook them in December, 1840, when William Batson, John Wilson, and John 
 Langhorn were made bankrupt. Mr. Berry's name does not appear. We are 
 informed that "the assets of the joint estate of the three partners in the late firm of 
 Messrs. Batson, Berry, & Co., bankers, Berwick, at the date of declaring the 
 dividend, amounted to £(>2,6()z^ 19s. 4d., and the debts proved to ^276,524 i8s. 4d. ; 
 that the realised assets of the separate estate of William Smith Batson amount to 
 ^795 13s-, and his debts proved and claimed together to ^4,804 los. 2d. ; and that 
 the realised assets of the separate estate of John Wilson amount to ^5,883 os. 8d., 
 and his debts proved and claimed to ^23,044 is. 5d. No dividend has yet been 
 declared upon the separate estate of John Langhorn, in consequence, it is said, of 
 the Savings' Bank of Berwick urging a preferable claim amounting to the full value 
 of the assets. In the event of its being set aside, the creditors will be entitled to 
 20/- in the pound. 
 
 Mr. T. R. Batson and Mr. W. Smith Batson owed the bank, the former 
 ^36,000, and the latter ;^54,ooo. Mr. T. R. Batson compromised his debt in 
 October, 1842, for ^12,000, payable in four instalments of ^3, 000 each." 
 
 Notes of this bank upon which debts had been proved, are marked — "Exhibited 
 under a Fiat against Batson, Wilson, and Langhorn," and are stamped with ist, 
 2nd, 3rd, 4th, and 5th dividends. The dividends paid were — July, 1842, 5/-; 
 January, 1843, 1/5 ; July, 1843, 3/1 ; February, 1845, 6d. ; January, 1856, 3d. In 
 all 10/3 in the pound. 
 
[i63] 
 
 Batson, Makeficlb, Si Scott. iRewcastie-upon-upnc. 
 
 NORTHUMBERLAND BANK. 
 
 Partners. Failed November, 1821. 
 
 Founded about 1800. 
 
 William Batson. 
 George Wakefield. 
 Robert Scott. 
 Thos. Richard Batson. 
 Wm. Smith Batson. 
 
 John Reed. 
 Archibald Beed. 
 William Reed. 
 Robert Hepple. 
 Sir Francis Blake. 
 
 THE earliest mention of this bank is at the time of panic in 1803, when it was 
 styled Messrs. Batson & Co. As it was not named among the Newcastle 
 banks in the panic of 1797, we place its foundation about 1800. 
 
 From a note of theirs issued from Morpeth in November, 1804, we 
 learn that the firm then was Batson, Wakefield, and Scott. Mr. Wakefield died 
 
 
 ^S' 
 
 ryy)/y^//^/,M z^- /v,y //.• _- / y.//,- 
 
 y^:0 
 
 
 / // ' v,-/V. ^ 
 
 Ji^u4iiil6 
 
 
 c'\ \'r:^r'r i^^'^ 
 
 in 1806, when probably the firm was re-constituted. In 1808 they were carrying 
 on business at Berwick, Morpeth, North Shields, and Newcastle. 
 
 The earhest members of the Berwick firm that we can record were : — Thomas 
 Shadforth, William Batson of Newcastle, and Richard Batson of Berwick, trading 
 as "Shadforth, Batson, & Co." The members of the Newcastle, North Shields, 
 
[^64] 
 
 and Morpeth houses were : — John Reed of Chipchase Castle, William Batson of 
 Newcastle, William Smith Batson of Newcastle, William Reed of Dockwray Square, 
 North Shields, Archibald Reed of Newcastle, and Robert Hepple of Morpeth ; 
 trading as " Reed, Batson, Reeds, & Co." 
 
 At the public meeting held in Newcastle, June 30th, 1803, it was resolved to 
 accept in payment the notes of Batson & Co. (see page 6g). In 1808, May 2nd, 
 the members of the Berwick firm dissolved partnership and constituted the new 
 firm of William Batson, John Reed, William Reed, Archibald Reed, William Smith 
 Batson, William Berry of Berwick, Thos. Richard Batson of Berwick, and Robert 
 Hepple. Two years afterwards, on December 17th, 18 10, the Newcastle firm was 
 dissolved, but re-constituted with all the old partners except Robert Hepple of 
 Morpeth. Their Newcastle business premises were then at the north end of the 
 Tyne Bridge, probably the same that the Tyne Bank vacated when they moved to 
 the Flesh Market. The early North Shields premises were on the New Quay. 
 
 The commercial excitement of 18 15 again brought trial to the bankers. At 
 the public meeting held July 22nd, John Carr of Dunston, Esq., in the chair, 
 confidence was expressed, and an agreement made, to accept the notes of Messrs. 
 Reed, Batson, & Co. with those of other bankers (see page yy). In the following 
 year it again became necessary to support the notes of the Newcastle bankers. 
 Messrs. Reed, Batson, & Co. having an establishment at North Shields, the 
 inhabitants there issued the following notice : — 
 
 "The Banking Houses of Messrs. Eeeds, Batson, & Co. having resumed their payments we the 
 undersigned having the fullest confidence in their Stability, as also of the Banking Houses of Sir M. 
 W. Ridley & Co., and Messrs. Lambton & Co., and being particularly anxious for the restoration of 
 Public Confidence, do hereby agree to accept the Notes of the above Banks in Payment as usual." 
 
 The document bears 226 names and concludes : — " N.B. The original lists are 
 at Mr. Barnes's- for further signatures. North Shields, Thursday Noon, 
 July 2Sth, 1816." 
 
 The difficulties were for the time tided over. About this period the house 
 was strengthened by the admission of Sir Francis Blake. 
 
 Mr. Archibald Reed took a very active part in the municipal affairs of the 
 town, and was appointed to the Mayoralty no less than six times. But evidently 
 he was not popular with all parties. On October 14th, 18 19, "The Mayor 
 (Archibald Reed, Esq.), had proceeded down the river with the civil power, aided 
 by the boats of his Majesty's ships, with a view of opening the navigation of the 
 river (which had been interrupted for some time by the riotous proceedings of the 
 keelmen), and had gone on shore at North Shields." While the Mayor and 
 party were in the Northumberland Arms Inn, the mob attacked the steamboat 
 
[^65j 
 
 with stones and other missiles ; the marines fired upon the mob and one man was 
 killed ; the mob then attacked the Inn, the doors and windows of which they 
 demolished, and it was with great difficulty and danger that the Mayor and party 
 escaped by the back door. 
 
 On November 20th of the following year, Archibald Reed again being Mayor, 
 Newcastle and Gateshead were illuminated "as a testimony of joy on the 
 abandonment of the bill against her Majesty Queen Carohne." A disturbance 
 occurred which brought out the following announcement : — 
 
 BANK NOTES. 
 "To THE Public— As the Conduct and Behaviour of a Magistrate (Archibald Reed, Esq.,) on Monday 
 Night, 20th November, 1820, during the Illumination, in calling out the Military, when even the Civil 
 Power was not required, has commanded universal Detestation ; and as the Publick have no means of 
 Redress, he being a Ministerial Tool of a Magistrate, acting under the Iron Hand of the Law, and so 
 incorrigible that he will not let the Odium which he incurred during his Mayoralty (a Period pregnant 
 with Wonders 1 I 1) be buried in oblivion, but still seems inclined to make Odium more odious by 
 tyrannizing over the People ; and as he places no confidence in the Publick, they cannot be expected 
 to put any Trust in him or his Promissory Notes : It is therefore requested by a number of Tradesmen 
 (who have themselves come to the Resolution) that the Northumberland Bank Notes be no longer 
 taken in Business. And as this Resolution becomes more general he will feel what the Publick can do 
 in Retaliation, and by such means he may be brought to his Senses. 
 
 It has been said in excuse that this Modern Hannibal, when he made, at the Head of the 
 Dragoons, his foolish Harangue to the People, was elevated with the Juice of the Grape ; but this will 
 not atone for the rash Act, as it might have been the Cause of a very serious Tumult, especially on a 
 Night when there was such a Multitude of People in the Streets of Newcastle. 
 
 For the above, and many other ignoble Deeds of this Noodle, he ought to be treated with ineffable 
 
 Contempt ; and each sober thinking Man may very justly exclaim, in the Words of the Poet 
 
 * Alas ! Poor Gentleman, I'm sorry for ye, 
 And pity much your upper Storey ! ' 
 22nd November, 1820." 
 
 Whether this was an empty threat of some spiteful person, or really carried 
 weight, it is difficult to determine ; but in a little more than twelve months the 
 bank stopped payment, the following announcement being issued on November 
 30th, 182 1 : — 
 
 " Sir Francis Blake, Bart., Reeds, & Co., beg Leave to assure the public that the most unremitting 
 Exertions are making for the Purpose of preparing an accurate Statement of their Affairs, and that it 
 is their Intention to submit the same forthwith to the Examination of Persons of the highest 
 Respectability, who it is expected will make their Report thereon in a few Days. 
 November 30th, 1821. 
 
 The news of the stoppage spread consternation through the North of England, 
 and brought forth the celebrated letter from " Peter Pry to Bob Fudge. (See 
 appendix^ 
 
[^66j 
 
 Some enterprising tradesmen took advantage of the opportunity to speculate 
 in the notes of the firm. JAMES HORSLEY, Linen Draper, &c., lo, Dean 
 Street, Newcastle, announces : — 
 
 " SEVENTEEN SHILLINGS PER POUND Allowed in Goods at regular prices for SIR F. BLAKE, 
 REED, & COMP'S- NOTES." 
 
 At North Shields the notes had a higher value : — 
 
 " Theatre, North Shields, Eighth Night of Subscription, on Wednesday, December 19th, 1821. Knight 
 and Wood Demon, or The Clock has struck, &c., &c. Sir Francis Blake & Co.'s Notes will be taken at 
 the Theatre for their Full Value in exchange for tickets." 
 
 In January, 1822, we gather from the following announcement the value 
 of the notes : — 
 
 " George Smith, Woollen and Linen Draper — Hatter and Hosier — Three doors above the Custom 
 House (for many years with the late Mr. Geo. James Spencer, Old Custom House Entry, Quayside), 
 &c., &c. Sir F. Blake, Reeds, & Co.'s Notes taken in full for Goods, or the best Price given in Cash 
 if required." 
 
 Before the end of the year Mr. Smith had become more cautious, and in the 
 Newcastle Coiirant for September 21st, 1822: — 
 
 " Respectfully informs his friends and the Public that his commission for the Northumberland Notes 
 ceases on the 30th of the present month, after which he will not pledge himself to receive them in 
 Full for goods as heretofore." 
 
 On October i8th he advertises in the same paper that he 
 
 " Having received a commission for £500 of the above Notes respectfully informs his Friends and the 
 Public, that he is enabled to receive them in full for goods, and pledges himself to charge every article 
 on the lowest ready money terms. Orders by Letter punctually attended to, and goods sent to the 
 country on approbation, if required. — Newcastle, October 18th, 1822" 
 
 In the next month he offers for the notes nineteen shillings in the pound 
 in cash, on condition that half the amount be taken in Goods, for which twenty 
 shillings in the pound will be allowed and the lowest ready money prices charged. 
 
 That prompt exertions were made to gather in all debts due to the firm will 
 be seen from the following circular : — 
 
 " Me Sir,— The circumstances in which Sir Francis Blake, Baronet, Reeds, & Co., are 
 
 unexpectedly placed, render it incumbent upon them to insist upon the immediate Liquidation of the 
 Debts due to them. I have therefore received their directions to make this Application for Payment 
 
 of £ and Interest due from you to them, and to inform you that, however painful it may be to 
 
 their feelings, they will be obliged to proceed to recover the same, if not paid forthwith. 
 
 I am, your obedient Servant, 
 Newcastle, 8th December, 1821. J- CHATER. 
 
 p.g. — Sir Francis Blake & Co.'s Notes will of course be received in payment. 
 
 (E. Walker, Printer, Newcastle.)" 
 
[i67] 
 
 Towards the end of the year the following skit appeared :- 
 / CHRISTMAS CAROL, 1821. 
 
 " Do NOT Chew that Hemlock Rank." 
 Tune. — " A Shepherd once had lost his Love." 
 
 A Black Bird sat beneath a brae, 
 
 With a fal-lal-la, and a falalala ; 
 
 And chirped and sang this cheerful lay, 
 
 Fal-lal-la, Palalalalala. 
 
 " bring Reed's Notes to me, I pray. 
 
 And twelve-and-sixpence I will pay — 
 
 In eighteen months bring what you may, 
 
 With a fal-lal-la, Falalalalala." 
 
 This Black Bird dealt in mugs of clay. 
 
 With a fal-lal-la, &c. — 
 
 And chamber-ware, blue, white, and grey, 
 
 Fal-lal-la, &c. 
 
 " So, My Dear Fellows," he would say, 
 
 •' Bring Reed's Bank Notes to me, I pray, 
 
 And you two-thirds in mugs I'll pay, — 
 
 With a fal-lal-la, &c." 
 
 This Bird was minus far they say, 
 
 With a fal-lal-la, &c. 
 
 And thus his Bank debt Nickt away. 
 
 Fal-lal-la, &c. 
 
 For Silly dupes who would not stay. 
 
 Brought him Reed's Notes from day to day ; 
 
 And Mugs and Bird's Eggs* hugged away. 
 
 With a fal-lal-la, &c. 
 
 But stay good folk, I pray you stay, 
 
 With a fal-lal-la, &c.. 
 
 Nor trust too far this man of clay, 
 
 Fal-lal-la, &c. 
 
 By Bird's Notes don't be charmed away, 
 
 But on Bruis'd Reeds rely you may ; 
 
 A safer tune to you they'll play, 
 
 With a fal-lal-la, Falalalalala. 
 
 At this time a considerable surplus on the estate as a whole was anticipated. 
 The following statement of the affairs of the bank appeared : — 
 
 Amount of debts 
 Assets 
 
 £406,164 14 8 Col. Reed's property valued at. 
 
 229,798 17 Sir F. Blake's Do. do. 
 
 Deficit 
 
 ,. £176,365 17 8 
 
 £180,000 
 100,000 
 
 
 
 
 
 
 
 280,000 
 176,365 
 
 
 
 17 
 
 
 
 8 
 
 £103,634 
 
 2 
 
 4 
 
 Leaving a balance in favour of 
 the Bank of 
 
 On November ist, 1822, the following official statement was issued : — 
 
 Newcastle-upon-Tyne, 1st November, 1822. 
 At a meeting of the Principal Creditors of Sir Francis Blake, Bart., Reeds, & Co., resident in 
 
 Newcastle and the immediate neighbourhood, held this day, at the Northumberland Bank, the Right 
 
 Worshipful the Mayor of Newcastle in the chair, the following Statements and Propositions were 
 
 submitted to the Meeting by the partners in the Bank : — 
 
 By the Accounts stated by Messrs. Loraine and Lamb, it appears that the debts due from 
 the Bank at the time of the suspension of their payments in November, 1821, 
 amounted to £406,174. 
 
 It further appears, by an Account now produced, that by the payment of debts due to the 
 Bank, and made in their own Notes and other Securities, and by the discharge of the 
 Debt of £80,000 and Interest, due to the Exchequer, Bill Loan Commissioners, and 
 other Debts, for securing which the Parties held Deeds and other available Securities, 
 a Reduction of the Bank Debt has been effected to the extent of . . . . . . £249 415 
 
 And that there are other payments immediately to be made to the Bank, in their own Notes 
 and Securities, to the Amount of 
 
 Which will leave the total Amount of Debt due from the Bank . . 
 
 * PromiseB eighteen months henoe. 
 
 16,530 
 
 265,945 
 £140,229 
 
[168] ■ 
 
 For the Liquidation of this Debt, the following Portions of the Estates of Sir F. Blake and 
 Col. Reed, and other Assets, are proposed to be appropriated, viz., Monies stipulated to 
 be paid to the Bank before the Period when the first Dividend is proposed to be made 13,940 
 
 Certain Estates belonging to Col. Reed, estimated to be worth . , . . . . . . 57,000 
 
 Other Estates belonging to Col. Eeed (now in Mortgage) and which are estimated to be 
 
 worth beyond the Amount of the Mortgage . . . . . . . . . . 42,000 
 
 The last-mentioned Estates will be conveyed subject to Col. Reed's private Debts, and to his 
 Liabilities to Sureties and others, but as all those last-mentioned Liabilities will be 
 discharged on Payment of the Debts of the Bank, his private Debts only (as stated 
 below) will be ultimately chargeable upon this property. 
 
 Certain Estates of Sir Francis Blake, estimated to be worth beyond the Incumbrances to 
 
 which they are subject . . . . . . . , . . . . . . . . 50,000 
 
 Assets belonging to the Bank to be got in before the Period when the last dividend will be 
 
 payable, and which according to the most moderate Calculation will amout to . . 20,000 
 
 (Besides other Assets of the Bank to a considerable Amount, but which may not be realized 
 
 within that period.) 
 
 182,940 
 
 Deduct Col. Reed's private Debts . . . . . . . . . . . . . . 16,000 
 
 £166,940 
 
 It is proposed to vest the above-mentioned Estates in Trustees for Sale, and a large Proportion 
 of the Estates valued as above at £57,000 are already advertised. 
 
 From the Produce of the last mentioned Estates, and the above-mentioned sum of £13,940, a 
 Dividend of Ten Shillings in the pound on the Debt remaining due from the Bank is proposed to be 
 made in the course of the month of February or March next ; and it is further proposed to discharge 
 the Remainder of the Debt by Two Instalments of Five Shillings in the Pound each, payable in Twelve 
 and Eighteen Months from their Date, with Interest upon the whole Debt, at £4 per cent., to be 
 calculated from the 1st Day of December, 1821, such Interest to be paid with and in addition to the 
 last Instalment. The remaining Property of the Partners, computed at upwards of £50,000 and which 
 is not included in the above Arrangements, will still remain liable to the claims of the Creditors, it not 
 being intended that they shall be released from such claims until all their debts shall be discharged. 
 
 The above Estimates of the value of the Property belonging to Sir Francis Blake and Col. Reed, 
 are made upon a very moderate Scale, and are considerably below the Sums expected to be produced 
 by a Sale of the Estate. 
 
 The following Resolutions were then submitted to the Meeting by Thomas Hanway Bigge, Esq., 
 and seconded by Thomas Fenvdck, Esq., and unanimously agreed to : — 
 Resolved, 
 
 1. That the Statement which has been produced is satisfactory to this Meeting, and leaves no Doubt 
 
 upon their Minds that the Property proposed to be vested in Trustees, together with the remaining 
 Property of the Partners in the Bank is much more than sufficient to satisfy all their debts. 
 
 2. That it is the Opinion of the Meeting, that it will be manifestly for the Interest of the Creditors to 
 
 accede to the Arrangement proposed, it being obvious that a Commission of Bankruptcy must be 
 the Result of hostile Proceedings being resorted to by any of the Creditors, and that the long delay 
 which such a Proceeding would occasion in the Settlement of the Bank Affairs, would be highly 
 prejudicial to the Interests of all Parties concerned. It is therefore most earnestly recommended 
 by the Meeting, that the Arrangement in Question be acceded to. 
 
 ROBERT BELL, Chaibman. 
 
[^69j 
 
 Further delay appears to have been unavoidable, and on April 3rd of the next 
 year (1823) the following announcement appeared : — 
 
 NORTHUMBERLAND BANK. 
 " Sir Francis Blake, Bfc., Reeds, & Co., have the Satisfaction to inform the Public, that they have 
 already received Letters from a great number of their Creditors assenting to the arrangement which 
 they have proposed : and they beg Leave most respectfully to solicit those Creditors who have not 
 already written to Mr. Loraine, to do so as soon as possible ; as the Payment of the Dividend is only 
 delayed by the Want of these communications." 
 April 3rd, 1823. 
 
 This was soon followed by the following notice : — 
 
 NORTHUMBERLAND BANK. 
 " Sir Francis Blake, Bart., Reeds, & Co., beg leave to inform the public, that a very considerable 
 Majority of their Creditors, have now signified their approbation of the arrangement proposed in their 
 former advertisement ; but as those Creditors who have not yet signified their Assent are, principally 
 Parties residing at a Distance from Newcastle ; Sir Francis Blake & Co. take the liberty most 
 respectfully to inform them, that their communications may either be addressed to Mr. Loraine, at the 
 Bank, or made personally or by Letter to any of the following Gentlemen, who will give any 
 explanation, respecting the Arrangements that may be required : — Mr. Lambert, Solicitor, Alnwick ; 
 Mr. Brumell, Solicitor, Morpeth ; Mr. Dale, Solicitor, North Shields ; Mr. Kirsopp, Solicitor, Hexham. 
 Sir Francis Blake & Co. having been given to understand that several of the Creditors supposed that 
 it will be time enough to signify their Assent to the Arrangement when they apply for their Dividends ; 
 they take the liberty to repeat, ' That The Payment Of The Dividend Is Delayed for No Other Cause 
 Than The Want Of The Necessary Communications From The Remainder Of The Creditors.' " 
 Newcastle, 21st April, 1823. 
 
 The enterprising Draper, George Smith, is again willing to speculate in the 
 assets of the bank, and in the Newcastle Courant of April 22nd, 1823, 
 announces : — 
 
 "The Creditors of the Northumberland Bank, may be accommodated with prompt Payment of 19/6 in 
 the Pound, for any Proportion of the Whole of their respective Claims upon the Bank, on Application to 
 George Smith, Woollen and Linen Draper, Hatter, Hosier, &c., Quayside, Newcastle ; in the following 
 manner, viz. : — 9/G in cash and 10/- in goods charged on the lowest Ready Money Terms. If 15/- in 
 the Pound be taken in Goods then the full change will be given." 
 
 The magnificent estates of the partners were brought to the hammer on 
 November 28th, 1822, " at Mr. Fletcher's, the Turk's Head Inn, Newcastle." The 
 names of Mr. Thomas Carr, Mr. John Fenwick, Mr. Stevenson, Mr. Stoker, Mr. 
 Cram, Mr. Ed. Bell, Mr. E. Clint, and Mr. W. Shanks, appear as the most constant 
 bidders. Another Sale was announced to be held at the same place on Tuesday, 
 28th October, 1823 (By order of the Trustees named in two several Deeds of 
 Trust, Executed by Sir Francis Blake, Bart., and Colonel Reed, Respectively). 
 
 On November 6th, 1823, they sent out the following : — 
 
 NORTHUMBERLAND BANK. 
 " Sir Francis Blake, Bart., Reeds, & Co., have the satisfaction to inform the public that the Trustees 
 in whom the real Estates of Sir Francis Blake and Colonel Reed are invested, have been enabled to 
 
[i7o] 
 
 make Sales of Property to a very considerable amount, and are now about concluding other 
 arrangements which they expect will enable them, very shortly, to give notice to the Public of the 
 specific Time when the next Dividend of Seven Shillings and Sixpence in the Pound will be paid. 
 
 As the Debts of the Bank bear Interest, the Delay (altogether unavoidable) in the payment of 
 their Instalment, will not occasion any loss to the Creditors. — Newcastle, 6th Nov., 1823.'^ 
 
 The affairs of the bank were not wound up until 1842. In that year the final 
 dividend was paid amounting to £67,220 ; the names of the Trustees then being 
 Robert Forster, John Clay, William Lowrey, Robert Grossman, and William 
 Paulin. 
 
 WILLIAM BATSON. — He was one of the first men to employ Richard 
 Grainger, who may be said to have reconstructed Newcastle. Mr. Batson 
 commissioned him to build Higham Place, which was so named from his estate at 
 Ponteland. Mr. Batson lived at No. i, Northumberland Street, Newcastle (now 
 Dawson's sale-rooms and Shops adjoining), and died there January 12th, 1826, 
 aged 83 years. 
 
 GEORGE WAKEFIELD.— He was the son of Robinson Wakefield of 
 Darlington, by his wife Ann Fell. He married Ann Wright of Stockton-upon- 
 Tees. He was a member of the Society of Friends, and near the close of the 
 last century came from Whitby to reside at North Shields. Mr. Wakefield was a 
 shipowner, and had been most successful with his vessels during the time of the 
 French Wars. 
 
 It is said that Mrs. Wakefield, led away by her husband's prosperity, 
 persuaded him to build a mansion in North Shields that was called " Wakefield 
 House." It was erected on what is now the north side of Northumberland Square, 
 and was upon such a scale of magnificence for the Quakers of that day, that 
 George Richardson of Newcastle, another member of the Society, journeyed from 
 Newcastle "to warn and admonish brother Wakefield," and accordingly 
 " solemnly warned him that if the enterprise was persisted in, few years would 
 elapse before not one stone would remain upon another of the great house." The 
 warning was disregarded, the mansion completed, and a supper given to the 
 workpeople. 
 
 In February, 1806, Mr. Wakefield left the Society of Friends and with six of 
 his children was baptised at Christ Church, Tynemouth. In July of the same 
 year he died in his new house, being only 42 years of age. His death must have 
 been sudden, as on the previous Wednesday, he and his children were confirmed 
 by the Lord Bishop of Durham in St. Nicholas' Church, Newcastle. After his 
 death the establishment was broken up, but no purchaser could be found for the 
 
[J71} 
 
 house. Eventually it was pulled down, and Northumberland Square fomied — the 
 houses on the north side being faced with the stones from the mansion. 
 
 Mrs. Wakefield lived in Shields for many years, and died there November, 
 1847, aged 80 years. 
 
 THOMAS RICHARD BATSON.— He was elected an Aldennan of Newcastle, 
 December 31st, 1835, at the first election after the passing of the Municipal Reforni 
 Act. It is said that he never made a single speech in the Council, but at wide 
 intervals seconded a motion. In 1832, at the formation of the North of England 
 Joint Stock Bank, Mr. Batson was elected managing director. In the directory 
 of 1833, he is described as a shipowner residing at i, Higham Place. In 1844, his 
 address is 4, Lovaine Terrace. He was appointed a Director of the New Gas 
 Company, January 22nd, 1829. Mr. Batson met with an untimely death. On 
 Sunday, February 21st, 1845, as he and Mrs. Batson were returning to their 
 residence at Reedsmouth after attending service at Bellingham Church, the horse 
 attached to their phaeton ran away, overturning the vehicle down a very steep 
 bank on the south side of the river Reed. Mr. Batson's head came in contact 
 with a tree, and death resulted instantly. Mrs. Batson was much shaken and 
 insensible for some time, but eventually recovered. 
 
 WILLIAM SMITH BATSON.— In the Newcastle directories for 1801— 
 1834 — 1838, he appears as residing, without profession, at No. i, Northumberland 
 Street. He died July 8th, 1858, at Bolam Vicarage. 
 
 JOHN REED (Colonel).— From " Men of Mark," I gather that the founder of 
 this branch of the family of Reed was Archibald Reed, a tradesman of Bellingham, 
 who died 1729, aged 86. A tablet to his memory is erected in Bellingham Church. 
 "Old Archie Reed" had two sons, Ralph and John, and a daughter, Martha. 
 Ralph was Sheriff of Newcastle, 1710-11, and Mayor 1716-17. He died before 
 his father, and was buried in St. Nicholas' Church, Newcastle, April 12th, 1720, s.p. 
 John, the surviving son, in 1732 purchased Chipchase Castle and estates, the old 
 family property of the Herons. In the same year he was made High Sheriff of 
 Northumberland. He married Mary, daughter of Gawen Aynsley of Little Harle, 
 died April, 1754, and was buried in the chapel at Chipchase. Having no issue he 
 left his property to his nephew Christoper Soulsby (son of his sister Martha and 
 Christopher Soulsby of Newcastle), who took the name of Reed. His marriage 
 on April 23d, 1757, was duly announced in the style of that period. " Married at 
 Norham Church, Christopher Reed, of Chipchase, Esq., to Miss Blake, eldest 
 daughter of Francis Blake, of Twizel, Esquire — an agreeable and well-accomplished 
 young lady with a fortune of ^10,000." How the fortune was conveyed to 
 
[172] 
 
 Chipchase is not known, but an account is on record of a lady, who in a neighbour- 
 ing county brought her husband a fortune of a hke amount, " in a waggon heaped 
 over with straw, accompanied by two stout fellows at the side, who were accoutred 
 with flails and pretended that they had been thrashing." The eldest son of 
 Christopher Reed and Miss Blake was the Colonel, who inherited the magnificent 
 estate of Chipchase Castle. At the time of the failure of the bank he parted with that 
 property, and lived a quiet and retired life as distributor of stamps for the Newcastle 
 District. He attained a great age, his death being thus recorded : — " February 
 2oth, 1842, Died at Felton Vicarage, John Reed, Esq., of Prestwick House, and 
 formerly of Chipchase Castle, aged 83 ; and on Sunday, the 28th, at the same 
 place. Miss Reed, sister to the deceased, aged 85, much regretted. His remains, 
 and those of his sister, were interred in the family vault at Bell's Close, in the 
 parish of Newburn, near Newcastle. The attendance of the gentry of the county 
 of Northumberland in their carriages on the mournful occasion was very numerous, 
 as was that of other classes connected with the immediate neighbourhood, all 
 being anxious to pay the last tribute of respect to those venerable, exemplary, and 
 deeply lamented persons." John Reed's eldest son, Christopher, became Vicar of 
 Tynemouth, and died at Kingston, Surrey, July 21st, i! 
 
 ARCHIBALD REED. — The seventh child and youngest son of Christopher 
 Reed, of Chipchase Castle, was given the family name of Archibald. He was 
 
 educated at the Grammar School, Newcastle, and 
 served his time with a member of the Merchants' 
 Company, beginning business on his own account 
 in 1790 on the Sandhill. He was elected Sheriff 
 in 1794 — Alderman in 1796 — Mayor in 1799, 1806, 
 181 9, 1826, 1830, and 1 83 1 — six times in all, and 
 was undoubtedly one of the most popular men of 
 his day. It was during his fourth mayoralty that 
 the Duke of Wellington visited the town. At this 
 time the salary of the Mayor was ^2, 100— free use 
 of the Mansion House— carriage and horses — state 
 barge, &c. At the close of his year of office in 
 1832, he was presented with a silver tureen valued 
 at /lOO. It bore the following inscription — 
 " Presented to Archibald Reed, Esq., Mayor of the 
 Town of Newcastle-upon-Tyne, on the occasion of his sixth mayoralty by his 
 friends and well-wishers — burgesses of that town, as a mark of personal regard, 
 and a tribute to his high character and valuable services as a magistrate." 
 
{-^y?,} ^___ 
 
 Mr, Reed died December 13th, 1842. He had lived some years at Whorlton, 
 but at the time of his death was residing in Leazes Terrace, Newcastle. He was 
 interred in Jesmond Cemetery, where in March, 1844, a handsome monument was 
 erected by public subscription, while a bust and tablet by Davies was placed in St. 
 Nicholas' Church to his memory. His portrait given here is by Thomas Bewick. 
 
 WILLIAM REED.— A relative of John and Archibald Reed. His father was 
 John Reed, who died at 39, Dockwray Square, North Shields, where he lived with 
 his son. William Reed's son, Thomas, was articled to Mr. Dale, solicitor, who 
 acted locally for the bank, and practised in North Shields for some years. His son 
 William joined his father, and still carries on his profession there. 
 
 ROBERT HEPPLE.— Probably Robert Hepple of Black Heddon, who 
 purchased West Bellasis (near Morpeth) and resided there. He married Dorothy 
 Cook, and had issue Ann, who married William Crawford of Newcastle ; Mary, 
 married to Edmond Cook of Foumart-law ; Rebecca, married to Daniel Teasdale ; 
 and Dorothy, who married Matthew Hunter of Byker Hill. The three daughters 
 — Ann, Mary, and Rebecca — inherited West Bellasis in thirds. 
 
 SIR FRANCIS BLAKE.— The second baronet of Twizel, died May 22nd, 
 1818, and was buried at All Saints, Newcastle. In the pedigree (Raine's " North 
 Durham," p. 316) he is said to have been buried on June 2nd, 18 18, aged 81. He 
 was related by marriage to the Reed family. 
 
 Bajeter ^ Co. ' Dariinaton. 
 
 Founded prior to Proprietor, Failed February, 
 
 1823. yohn Baxter. 1826. 
 
 MR. HENRY SPENCER in " Men that are gone from the Household of 
 Darlington," on page 56 says : — "After the death or removal from the 
 High Row, of Dr. Trotter and his widow, there used to stare one in the 
 face, from the front of the house, on the face of a big signboard, in huge glaring 
 gilt letters, the word BANK." This was the establishment of Mr. John Baxter, 
 who conducted a bank or loan office for a few years in Darlington. The first 
 record that I have of him is from a Directory for 1823, Messrs. Glyn & Co. being 
 his London agents. It is highly probable that he was originally a clerk with 
 Messrs. Lumley, Wilkinson, & Co., bankers, of Stockton. A note of theirs for ;^5, 
 dated October 19th, 1814, is entered by John Baxter. Lumley & Co. failed in 
 181 5, when Baxter appears to have entered the bank of Sir M. W. Ridley & Co., 
 Newcastle. 
 
[174] 
 
 In a " Book of Autographs," belonging to Mr. John Ord, of Haughton Hall, is 
 the signature of John Baxter, with ^ 
 
 the following remark against it : — Z^^^^ y^^ ^ 
 
 "A gentleman who was in the bank ^<y'^^^/^'^^ yy^^/^y^^ 
 
 of Sir M. W. Ridley in Newcastle- t^::^ ^ ^ ^'^ ^^ "^ . 
 
 upon-Tyne, 1817." 
 
 The signature corresponds with that upon the note of Messrs. Lumley & Co. 
 Probably soon after the date named he opened the bank at Darlington upon his 
 own account. 
 
 Dame Fortune did not smile upon his efforts, as he appears in the 
 Bankruptcy Court, February 23rd, 1826. I am informed that he removed to 
 London, and was in 1839 an agent for a coal merchant in the City Road. He 
 died there, March, 1843. 
 
 John Baxter married Miss Robinson, whose parents lived in the one house that 
 then represented the present town of Middlesborough. 
 
 Bell, Cooft^on, Carr, S, Hire^, 
 
 THE OLD BANK. 
 Partners. 
 
 Founded 1755. 
 
 Matthew Bell. 
 John Cookson. 
 Ralph Carr. 
 Joseph Airey. 
 Joseph Saint. 
 John Widdrington. 
 Isaac Cookson. 
 
 James Wilkinson. 
 
 Thomas Gibson. 
 
 Sir John Eden. 
 
 Sir M. W. Ridley (i). 
 
 Matthew Bell. 
 
 George Gibson. 
 
 Chas. Wm. Bigge. 
 
 TRewcastle^upon^TT^ne. 
 
 Purchased by the 
 
 Northumberland and 
 
 Durham District Bank 
 
 IN March, 1839. 
 
 Thos. Hanway Bigge. 
 
 William Boyd. 
 
 Sir M. W. Ridley (2). 
 
 Charles John Bigge. 
 
 Robert Boyd. 
 
 John Spedding, jun. 
 
 Sir M. W. Ridley {i). 
 
 IN pages 2^ and 24 of this work I have shown the circumstances that led to 
 the formation of this bank. A further account will also be found in my 
 paper upon " The Old Bank " in Archaeologia Aeliana, vol. xvi. In these 
 accounts I claim that this was the first instance upon record of a number of 
 provincial gentlemen (i) entering into partnership ; (2) individually subscribing a 
 fixed capital ; and (3) opening premises for the specific purpose of conducting a 
 
[175] 
 
 banking business ; also that all previous provincial financial matters had been con- 
 ducted by manufacturers or tradesmen, who had, in conjunction with their other 
 business, from time to time undertaken monetary transactions until they developed 
 into bankers. In some cases they retained their old business, and in others 
 relinquished it for banking pure and simple. Since the first of these pages went to 
 press, Mr. F. C. Smith, of Nottingham, has kindly forwarded me documents that 
 show the very early foundation of the well-known Nottingham banking establish- 
 ment of Samuel Smith & Co., out of which developed the London house of 
 Smith, Payne, & Smiths. He mentions that the statement of the origin of their 
 firm given by Lawson in his " History of Banking" (page 264), and since copied 
 by many writers, is incorrect.* 
 
 The documents before me contain many interesting references to a ver^' early 
 banking business, but being out of my district I must forego the pleasure of 
 extracting further from them. 
 
 I have stated on the pages quoted that the bank was founded by Mr. Carr 
 upon the suggestion of his London agent, George Campbell, who had succeeded to 
 the business of Messrs. Middleton. They were originally goldsmiths in St. Martin's 
 Lane, near St. Martin's Church. They are named in 1692, when George 
 Middleton had a partner, John Campbell. George Middleton died prior to 1748, 
 when George (or John) Campbell took his clerk, David Bruce, into partnership. 
 In 1753, George Campbell was trading alone; he had a niece. Miss Polly 
 Peagram, with whom James Coutts, a young Scotsman from Edinburgh, fell in 
 love, and eventually they were married.f 
 
 About this time Mr. Campbell took his nephew into partnership, the firm being 
 Campbell and Coutts. The house of business was near Durham Yard in the 
 Strand. James Coutts was the second son of John Coutts, of Edinburgh, whose 
 portrait is in the possession of his great-grand-daughter the Baroness Burdett- 
 
 » Mr. Smith claims that his ancestors, who were manufacturers at Nottingham, were also bankers as far 
 back as 1688, and furnishes the following extract from an interesting letter written by Abel Smith at Nottingham 
 to John Payne his partner, with a proposition of extending their banking business, December 16th, 1760:— 
 
 " You already know my sentiments in regard to making our business in London general, and wish you had 
 thought this a proper time to make a beginning, as I could bring a capital of £30,000 or £40,000 into the business 
 if it would be wanted, that I think there could not be much hazard in making the experiment. The Banking 
 business was begun here before the Revolution which has been carried on to this time with the greatest credit. 
 That I am of opinion with care and diligence we should in a few years be equal in credit to the best houses in 
 England." 
 
 \ Newcastle Journal, May 10th to 17th, 1755:— " Edinburgh, May 8th. On Saturday se'nnight was married at 
 St. George's Church, Hanover Square, London, Mr. James Coutts, of Jeffrey's Square, merchant, son to the 
 deceas'd John Coutts, esq., Lord Provost of Edinburgh, to Miss Polly Peagram, of Knlght's-Bridge, niece to 
 Mr. Campbell, Banker in the Strand, an amiable young lady, with a fortune of £30,000, and that day the 
 new-married couple set out for Bath." 
 
[^ 
 
 Coutts. To her courtesy I am indebted for the copy here given, which was 
 specially taken for this work, and the value of which is enhanced by the inscription 
 she wrote beneath it. John Coutts had four sons, John, James, Patrick, and Thomas. 
 
 
1^77 ^ 
 
 With this knowledge of the London fimi, we can now fully understand 
 an account of the formation of the Newcastle bank, written by Ralph Carr, 
 some years later. He says, "The bank has also made many thous^ 
 pounds by the interest of money in their hands, for I most assuredly charged 
 them with no interest for a great many years, being my Hobby Horse, and solely 
 begun by myself, on Mr. Campbell's recommending my beginning a bank in 
 Newcastle, to take his nephew, the present rich banker, James Coutts, as first my 
 apprentice, and after three years as a partner, for their father, my worthy friend 
 John Coutts, esq., had beg'd me to be a Father to his four sons, this accident gave 
 me the first notion of a bank, and it proved both advantageous to us and of the 
 utmost service to the country till too many others started up." We see, then, that 
 the idea of a bank pure and simple for Newcastle originated with Mr. Campbell, 
 who was an early partner in Coutts & Co., and that the Newcastle bank might 
 have had for its first "junior," " James Coutts, the present rich banker." Acting 
 upon the suggestion of Mr. Campbell, Mr. Carr eventually entered into partnership 
 with three other gentlemen of Newcastle, to carry on the business of " Bankers 
 and Dealers in Exchange." The first partners were Matthew Bell, John Cookson, 
 Ralph Carr, and Joseph Airey. The first known deed of partnership, which is 
 still in existence, is for ten years from January 1st, 1756. The banking premises 
 were to be at the residence of Mr. Joseph Airey, in Pilgrim Street.* The paid up 
 capital would be considered marvellously small in the present day, ;^500 for each 
 partner, or ;^2,ooo in all, but they were all men of considerable wealth and 
 position. Unfortunately there is some little uncertainty about the time of their 
 first opening. The date has hitherto been ascribed to 1755, but it is possible that it 
 may have been earlier. The Newcastle Coiirant, for August 23rd, 1755, announces 
 that " Yesterday, Notes were issued from the Bank Established in this Town by a 
 Company of Gentlemen of Character and Fortune, which will be of infinite 
 advantage to this place." And both the Courant and Journal of November 22nd 
 1755, advertise the following : — " Notice is hereby given that the Newcastle Bank 
 will be opened on Monday next, at the house late Mr. Robinson's, in Pilgrim 
 Street, where all Business in the Banking and Exchange Way will be transacted as 
 in London." This announcement has hitherto been held as proclaiming the 
 opening of the first bank in Newcastle, but as it was recorded on August 23rd that 
 the bank was then issuing notes, I think the announcement of November 22nd 
 
 * Miss Airey, of Bath, •writes to me as follows, January 10th, 1894 :— " I have re-read the will (at Durham) of 
 my great-great grandfather, Thomas Airey of Newcastle and Killingworth, the father of your Joseph Airey, the 
 banker, and in it, dated 1770, he leaves his leasehold dwelling house with the appurtenances situate in Pilgrim 
 Street, which he then inhabited, for the remainder of the term unexpired at his death, to my great grandfather, 
 Henry Airey, There is no number or description of the house given by which it can be identified." 
 
 W 
 
[]7^ 
 
 simply speaks of a change of premises, so that we are not yet certain of the 
 precise time or place that saw the birth of the first bank in our town. 
 
 In 1762 or 1763, Mr. Joseph Saint became a partner, and the firm was then 
 Bell, Cookson, Carr, Airey, and Saint. Mr. Airey died near the end of the year 
 1770, and his place was taken by Mr. John Widdrington (a nephew of Mr. Carr) 
 on January 2nd, 1771 ; the firm then being Bell, Cookson, Carr, Widdrington, & 
 Saint. The capital was divided into eighteen parts, the three old partners holding 
 four shares each, and the two new partners three shares each. " Messrs. 
 Widdrington & Saint had to attend to the daily business of the bank without 
 extra remuneration." 
 
 In 1772 there occurred in the metropohs a terrible money panic, which was 
 not long in spreading to the provinces. Only one other bank was in existence in 
 Newcastle, and both required public support. (See page 28.) 
 
 In 1775 another deed of partnership was entered into, the capital being 
 divided into thirty-two shares : Messrs. Bell, Cookson, Carr, and Widdrington, each 
 held seven, and Mr. Saint four, the latter to attend gratis to the business of the 
 firm. In the Directory of 1778, the bank is described as "The Old Bank," and 
 occupying premises in Pilgrim Street, near the end of Silver Street, probably the 
 same that they moved to in 1755. 
 
 Mr. Cookson and Mr. Saint both died in 1783. On January 1st, 1784, a new 
 partnership was entered into between Messrs. Bell, Carr, Cookson (Isaac, son of 
 John, the late partner), Widdrington, James Wilkinson, and Thomas Gibson, Mr. 
 Cookson, taking the place of his father, Messrs. Wilkinson and Gibson being 
 admitted in Mr. Saint's room. "Each of the first three partners held four shares 
 out of eighteen, Widdrington held three, while the two last named held three half- 
 shares each, and were bound to attend daily without remuneration. The style of 
 the bank was to be Messrs. Bell, Carr, Cookson, Widdrington, & Co." 
 
 Mr. Carr retired from the bank on 31st December, 1787, but he has left letters 
 and papers that afford a full and most interesting record of the bank's transactions. 
 
 The balance sheets for the early years of their trading are still in existence, 
 and from them it appears that at the end of 1756 the note issue was 
 ^13,523 i8s. 4d., "the odd money may be from the cost of production being 
 included." The deposits exceeded ;^io,ooo, ^11,502 2s. 7d. was in the hands of 
 Messrs. Vere, Glyn, & Halhfax, London, and /505 with Coutts & Co. ; cash in 
 hand, ^3,000 ; discounts, ;^i3,ooo. There was one overdraft of about ^1,000. The 
 profit for the year was ;^i,oi7 19s. 7d. Lord Ravensworth, Robert Ellison, jun., 
 the Newcastle Infirmary, and Marine Society were amongst the depositors. In 
 
[179] 
 
 the year 1758, the profit was ^3,522, which constituted the first dividend. There 
 was difficulty in employing the " deposits profitably in genuine banking business 
 in the neighbourhood/' and on April i8th the following resolution was passed : — 
 
 Whereas the sums advanced by us on notes and accepted bills are found insufficient to employ the 
 cash in our hands, we have agreed that any sum or sums of money not exceeding £7,000 be lent out. 
 
 A letter of September 15th, 1767, to Mr. John Moses, of Hull, shows how the 
 note circulation was increased. 
 
 Our bank remits for many of the large estates in these counties at the two terms in bills at 40 days 
 at J per cent., which in fact is receiving and remitting their money for nothing, as it always happens 
 in May, that bills are J per cent, premium, and we are then obliged to send many thousand pounds by 
 land carriage to London. Our only advantage is, that the gentlemen in Northumberland order their 
 tenants to take payment for their corn in our notes, but no trade of this kind is carry 'd on in the 
 county of Durham. Our Gentlemen have formerly suffered greatly by their agents taking bad bills. 
 
 The manner in which overdrafts were negociated is shown by a letter (March 
 15th, 1768) to Messrs. Charles and Robert Falls, of Dunbar : — 
 
 Our bank at the closing of their books last year resolved to keep stricktly to their original rules, 
 which they find absolutely necessary, one of which was that all single Merchants or Houses having 
 cash accounts sh"* give a bond to the bank with some other person as a security for the re-payment of 
 all money that may be due to the extent agreed upon, and this is accordingly comply'd with by the 
 first people in this country, and therefore no possibility that any can take it amiss being an established 
 practice at all banks. 
 
 The balance sheet for 1771 gives a total of /■i4i,340 ; discounts, ^53,202 ; 
 bills of exchange, ;^43,66o ; 20 overdrafts ; 42 depositors ; note issue, close on 
 ^82,000 ; profit, j^3,705. During the year 1772 occurred a serious panic. In 
 1773 the business fell to ^^140,000 ; note issue, ^102,000 ; and a profit of only 
 ;£"3,ooo remained. 
 
 Business revived in the next year, the balance sheet showing ^234,660 ; the 
 capital had been increased to ;^8,ooo ; and the note circulation had risen to 
 ^170,000. 
 
 In 1776 the turnover was ^278,708 ; cash in the bank, ^"53,853 ; bills of 
 exchange, ^"49,744 ; with Hallifax, Mills, Glyn, & Co., ^"36,093 ; Castell, 
 Whately, & Powell (bankers, London), ;^i 1,767; na\y bills, /i4,6o9 ; bank 
 stock, ;^8,50o ; 3^ per cent, annuities, ;^i,799 ; at the Bank of England, ^443 ; 
 overdrafts about ^38,000 ; the note issue was about /i 8 0,000 ; the capital, ^8,000 ; 
 52 depositors, ^■85,000 in amount ; profit, ^'5,712. Amongst the names of the 
 customers are Bigge, Riddell, Williamson, Collingwood, Askew, Isaacson, 
 Ravensworth, Headlam, Loraine, Clennell, Ellison, Fawcett, Dockwray, and 
 others. 
 
 In the next year there was a great falling off, probably from other banks 
 starting ; total, ^183,037 ; deposits were ;^48,ooo less ; and notes less by ;^52,ooo. 
 
n^8o] 
 
 From a letter that was lost in the post, containing two bills, which were advertised 
 for in the Newcastle paper, March, 1778, we find that one of the missing 
 documents was drawn at thirty days after date upon Castell, Whately, & Powell, 
 bankers, London (who failed about 1802). " Signed for Bell, Cookson, Carr, 
 Widdrington, and Self, Jos. Saint." 
 
 Mr. Carr's reasons for quitting the bank are shown by the following accounts 
 left by himself :■ — 
 
 Too often I have lost many thousand pounds by having large sums in their (the bank's) hands, 
 and wanted to buy stocks or other advantageous purposes. They could not pay me on the peace with 
 America of which I had early intelligence. This prevented my buying stock to the amount of 12 to 
 £15,000, by which I evidently lost, as I showed to them circa £6,800, for, on examining their discounts 
 then in 1785 with Mr. Gibson, we found discounts of near a hundred thousand pounds Intirely locked 
 up and they could not pay me and the same has repeatedly happen'd. I always had large sums in the 
 
 bank, and Messrs and .... were generally greatly in debt to the bank, and were 
 
 in fact the cause of my loss. I also lost by Mr upwards of £5,000, for when I bought .... 
 
 of him at £17,000, I ordered the bank to sell out £12,000 3 per cent, stock, then at 97 per cent., and 
 they got the licences from the Bank of England for that purpose, and it is in their hands to this day, 
 
 but Mr could not make a title for me till 1793, when stock had fallen to £48, and I still 
 
 have that stock to my great loss. 
 
 On December 31st, 1787, Mr, Carr writes : — 
 
 Having from this time quitted the bank, and turned over my share to Sir John Eden and Sir 
 Matthew Ridley, for if I had continued a banker it should have been on such terms so as to have 
 taken in no other Partners, nor were they necessary, as my fortune alone of near a Hundred Thousand 
 Pounds, was a sufficient security to the Publick as not being under settlements. The annual 
 settlements of our Banking Accounts are in Small Books to which I refer, as I always placed my 
 Bank Profits out to Interest with other savings. I calculate I have at this day made more than Forty 
 Thousand Pounds by my concern in the bank, but now that so many Banks are begun here and 
 everywhere, the business is spoiled and must be attended with daily hazard, and their competitions 
 disgraceful. I wish my nephew J. W. was clear of it. 
 
 In May, 1784, street alterations were commenced, which ended in 1789 in 
 the formation of Mosley and Dean Streets, and by 1790, the bank was established 
 at the south corner of Mosley and Pilgrim Streets, and these premises have been 
 used for banking purposes from then until the present time. Mr Bell's eldest son 
 came of age towards the end of 1791, when his name was added to the firm, also 
 that of Sir Matthew White Ridley, Bart., who now became a partner in his own 
 right, the firm being Ridley, Cookson, Widdrington, Bell, and Co. Sir John Eden's 
 name drops out, but as he had been only a partner as trustee for young Mr. Bell, 
 who had attained his majority, the omission is accounted for. 
 
 We now come to the eventful year 1793. In April, the commencement of 
 hostilities with France operated unfavourably upon public credit, and caused a 
 serious run upon the provincial banks. On the 8th of the month, all the Newcastle 
 banks had to suspend payment in specie. The same day a public meeting was 
 held, and every effort made to restore public confidence. It was resolved that the 
 
[i8i] 
 
 banks " were of unquestionable credit, and entitled to the confidence of the public 
 in the fullest extent," and those present would readily accept their notes. A 
 committee of sixteen gentlemen was appointed to investigate the affairs of the 
 banks generally, and to report. (See page 48.) 
 
 On the following day a guarantee was entered into by the merchants and 
 townspeople. Similar meetings were held in the neighbouring towns, public 
 confidence was somewhat re-established, and cash payments resumed on Saturday, 
 April 2oth. In 1797 another panic occurred, which was met and tided over in a 
 similar way. 
 
 Mr. Cookson retired in 1796, and Mr. Widdrington died in 1797. The firm 
 then became Ridley, Bell, Wilkinson, and Gibson. Mr. Wilkinson died in 1800 
 (another account says 1802), and the firm became "Ridley, Bell, and Gibson." On 
 January ist, 1803, George Gibson, brother of Thomas, entered the firm. In June 
 of this year, trouble again occurred in the Newcastle banks. On the 30th of this 
 month, Messrs. Surtees, Burdon, & Co. were obliged to close their doors. On the 
 same day a public meeting was held, and signatures solicited of those who would 
 undertake to accept the notes of the remaining banks. The list sets forth the 
 names of some four hundred firms and private individuals, who pledged themselves 
 to accept the paper of Sir M. W. Ridley, Bell, & Co., Sir Wm. Loraine, Baker, & Co., 
 Messrs R. J. Lambton & Co., and Messrs. Batson & Co. Several of the sheets 
 containing the original signatures are still in existence and two of them are shown 
 upon page 70. Many of these signatures will be of interest to Novocastrians, none 
 more so than that of Ralph Carr, the founder of the Old Bank, nearly half a 
 century before. 
 
 Mr. George Gibson died in 1806, and in the following year, August 17th, 
 Chas. Wm. Bigge of Eslington House, Northumberland, was admitted to the firm, 
 Mr. Bell having retired. On October 3rd of the same year, Thomas Hanway 
 Bigge of Benton (brother of Chas. Wm. Bigge), and Wm. Boyd of Newcastle, 
 were admitted into the partnership, the firm now being styled Ridley, Bigge, 
 Gibson, & Co. In April, 18 13, Sir M. W. Ridley died, and his son succeeded to the 
 title and to his father's share in the bank. The younger Sir Matthew had only 
 been a partner two years, when difficulties again arose in the banking world. On 
 July 22, 1815, a meeting was held at Mr. Forster's long room, Pilgrim Street, of 
 several owners of land in the counties of Durham and Northumberland, John Carr 
 of Dunston, Esq., in the chair, when the notes of Ridley & Co., Loraine & Co., 
 Lambton & Co., and Reed & Co. were once again agi'eed to be accepted. A few 
 days after, a manifesto was issued by the "Merchants and tradesmen," stating 
 that they had the most " unlimited confidence in the solidity " of the banks just 
 
[JS2] 
 
 named. In the following year Messrs. Loraine retired from banking circles, and 
 once again was it necessary to pledge the credit of the three existing banks. It 
 would be at various times during these panics that squibs and skits regarding rag- 
 money were issued. 
 
 The next break in the partnership was in December, 1824, when Mr. Thomas 
 Hanway Bigge died. On January i, 1825, Charles John Bigge, eldest son of Mr. 
 Charles Wm. Bigge, was admitted a partner, and on January i, 1827, Robert Boyd, 
 son of Mr. William Boyd, was admitted to the firm. 
 
 The branch of the Bank of England was established in Newcastle in 1828. 
 Messrs. Ridley & Co. soon opened an account with them. In February, 1829, the 
 members of the firm were : Sir M. W. Ridley, Chas. Wm. Bigge, Thomas Gibson, 
 Wm. Boyd, Chas. John Bigge, and Robt. Boyd. 
 
 On the 3rd of September, 1832, Thomas Gibson departed this life, and his 
 nephew, John Spedding, jun., was added to the firm, the style now being. Sir M. 
 W. Ridley, Bart., Chas. Wm. Bigge, & Co. The concluding account of the history 
 of the bank I copy from the interesting MS. of Mr. William Boyd : — 
 
 On Friday the 15th of July, 1836, Sir Matthew White Ridley, Bart., died of apoplexy, at Richmond 
 in Surrey, to which place ho had gone from his residence at Carlton Terrace, for change of air, and by 
 an article in the partnership deeds of the firm, his son (now Sir Matthew White Ridley, Bart.) succeeds 
 to his father's interest and shares in the bank, and the business is carried on without any alteration 
 in the style of the firm. This partnership by a special agreement was stipulated to be carried on for 
 three years, viz., for 1837, 1838, and 1889, when it was to cease and determine ; at the end of that time 
 it was understood — indeed it was the declared wish of Sir M. W. Ridley to disconnect himself with 
 business, and retire from the bank, which for so many years had been a source of great profit to his 
 father and grandfather. The other partners therefore took steps to remedy the chasm which would be 
 made in the establishment by the retiring of Sir M. W. Ridley, and after several schemes and 
 negotiations, it was determined to join a Joint Stock Bank which had been established some years in 
 Newcastle, under the title of The Northumberland and Durham District Bank. This was accomplished 
 on the 20th March, 1839. The whole weight and influence of the Old Bank were thrown into the 
 scale of the new establishment, around which all the old friends and customers of Ridley, Bigge, and 
 Company rallied, which had the effect of making the District Bank the largest establishment in the 
 North of England, Ridley & Co. transferring in money, bills of exchange, promissory notes, mortgages, 
 and customers' accounts, to the extent of upwards of £800,000. 
 
 It has been stated that all the friends of Ridley & Co. rallied round the new establishment ; to this 
 there were three exceptions, all of whom had been under great obligations to Ridley & Co. One of 
 them especially had an advance of nearly £19,000 granted during the panic of 1825-6. The house could 
 not pay a shilling in liquidation of this enormous debt, and it was foolishly imagined that these men 
 might have had some gratitude for favours received, but they were actuated by other feelings and 
 removed their accounts to other houses ; they certainly paid the debt after 1839, it having been 
 considerably reduced previously to that time, but the Old Bank was still obliged to accommodate them 
 and take their promissory notes, payable at distant periods, for the balance due in 1839. 
 
 Messrs. Bigge, Boyd, & Spedding became large shareholders in the District 
 Bank ; Mr. C. J. Bigge, Mr. Robert Boyd, and Mr. Spedding being appointed 
 directors. Thus ended the career of this notable firm, which had successfully 
 weathered the storms and gales of the banking world for 84 years. 
 
[i83] 
 
 The Old Bank had a very large note issue ; after the amalgamation this 
 paper was withdrawn and the circulation confined to the notes of the Bank of 
 England. 
 
 I now give some miscellaneous items that I have gathered regarding the 
 business of the Old Bank. 
 
 One of the early transactions of the newly-fomied bank was the issue of 
 lottery tickets. The Newcastle Journal, September 8th, 1759, says: — "Any 
 person wanting tickets in the present State Lottery may be supplied at the 
 Newcastle Bank on the same terms as at London." Some local speculator seems 
 to have been fortunate, as in the balance sheet of 1774 one of the items is a lottery 
 ticket for ;^ 10,000 ; it was probably lodged for collection. 
 
 The practice of opening subscription lists for various public purposes at the 
 banks, appears to have been of early origin. The Newcastle Courant of 
 September, 1759, announces : — 
 
 "Whereas at this time of imminent danger the speedy recruiting of His 
 Majesty's forces seems most expedient for the public service. 
 
 " Resolved unanimously ' That a subscription be forthwith opened at the 
 Newcastle Bank for an immediate voluntary contribution to be distributed in 
 bounties. Each man to have £2 2s. over Government money.' " 
 
 In 1772, the question of maintaining the standard of gold coin was perplexing 
 the Government in the early days of banking, as it has so often done since. The 
 receivers of public revenue were empowered to cut and deface all unlawfully 
 diminished coin that should be tendered to them in payment ; and all gold coin 
 under the weight specified was to be considered by them as unlawfully diminished. 
 But, for the accommodation of the holders of light money, the receivers were 
 empowered to accept all such cut money in payment at the rate of ^3 i8s. per 
 ounce, and the Bank of England would purchase cut money at the same rate. On 
 July 31st, the Bank of England gave notice that any quantity of guineas, half- 
 guineas, and quarter-guineas (cut and defaced agreeably to the act), not less than 
 fifty guineas in a parcel, would be taken in on Monday, August 2nd, and every 
 Monday, Wednesday, and Saturday, till further notice, at the rate of £'^ 17s. loJ-d. 
 per ounce. By an Act of Parliament made in King William's reign, and still 
 unrepealed, " whoever takes or pays away any milled money, not cut to pieces, 
 for less than it passed current when first coined, shall be deemed guilty of felony, 
 and suffer death accordingly." 
 
 Arrangements were subsequently made with some of the provincial banks to 
 clear the countrj^ of the light money, the Newcastle bank being one so engaged, 
 
[i84] 
 
 as they announced on August loth, 1774, " Messrs. Bell, Cookson, Carr, 
 Widdrington, & Saint, give Notice that attendance will Be given at the sign of the 
 Black Bull, in Wooler, on Thursday next at nine o'clock in the morning, to 
 exchange the light money according to His Majesty's Proclamation and 
 Appointment, made July 29th, 1773." The confidence in their notes was such 
 that within two years of their establishment it is announced, " We hear that the 
 Collector of Excise for the County of Northumberland will take Newcastle Bank 
 Notes in payment for duty or give cash for them when upon his collection." 
 
 The following letter from Matthew Bell to Ralph Carr, who was evidently in 
 London, is interesting, as it shows the commencement of the £\ issue. It is 
 dated February 6th, 1758 : — 
 
 I was desired (by the other members of the firm at their annual meeting) to send you the enclosed 
 to have a plate cut for twenty shilling notes, one pound in the body of the note, and the twenty shillings 
 at the bottom are both intended to be in the like hand that the sum is wrote in in the notes of the Bank 
 of England, and a scrawl in the left hand. You will hear of the man who cut the plate for the other 
 notes at Vere's, he lives in Wine License Court in Fleet Street, it wo'd be well you co'd bring it down 
 with you, if you give the engraver a short day he will oblige you, if you indulge him he will not be 
 punctual, you must also provide a large quantity of a strong tough paper for these notes. 
 
 I give a copy of a note (slightly reduced) which is doubtless from the plate 
 referred to, as it is dated in the following month, and bears out the instructions 
 given. It was probably one of the first one pound notes issued in the provinces. 
 
 i,>'liJ 
 
 
 
 /^^ 
 
 
 'f 
 
 
 The old banks in their early days were subject to the forgery of their notes. 
 Perhaps the earliest and most interesting instance occurs in 1765. Amongst the 
 Carr papers still exists the following letter : — 
 
[i85] 
 
 Edinburgh, November 21st, 1765. 
 Dear Sir, — Mr. Cookson and I are called to this place on account of our having last week 
 discovered a forgery of two of our five pound bank notes, and being informed that your bank as 
 well as the Royal and British Linen Comp's. are in the same situation, we wou'd request your 
 informing me if you have got already any lights and what they are in this dark affair — how many 
 notes you have detected, and whether you think it proper to pay them — it is thought here that the 
 whole forgerys have been done in Ireland — If you have the names and descriptions of any of the 
 accomplices please to fav"^ us with them directly to the care of John Forrest, Esq"". 
 
 We are now able to throw the hght upon these forgeries that Mr. Carr so 
 longed for when in Edinburgh. The forger was really a Newcastle man, and no 
 less a personage than the principal engraver in the town, Thomas Jameson. A 
 newspaper of the day says : — 
 
 Last Monday was committed to Newgate Thomas Jameson, an engraver in this town, who had a 
 few days before been apprehended at Edinburgh, charged with counterfeiting about a dozen of five 
 pound notes of the Newcastle Bank. But we hear the greater part of them are come in, and have been 
 paid, so that 'tis hoped a total stop is put to this pernicious fraud. 
 
 It was shown that a woman, named Jean Gre)'', had been detected in uttering 
 a forged note of the Newcastle Bank, value £^. Upon her examination, she 
 accused Jameson, an engraver, with whom she lived, as the person from whom she 
 got it, and said that she had seen him engrave and fill up notes, of which she made 
 
 oath of the truth and signed her examination 
 before a magistrate. Upon this evidence Jameson 
 was committed to the assizes. By the time the 
 trial came on there. Grey had relented. She knew 
 that her evidence must convict her lover, and that 
 his punishment would be death. She therefore 
 
 " boldly denied what she previously made oath of, upon which 
 the judge ordered an indictment to be drawn for perjury 
 with intent to take away the life of a man who had 
 been tried and found innocent. She was tried in an 
 hour, found guilty, sentenced to be pilloried and trans- 
 ported for seven years. On August 2, 1766, a temporary 
 pillory was erected upon the Sandhill, Newcastle, and 
 Jean Grey for the crime of perjury was exalted and stood 
 therein one hour at mid-day, as an example of public 
 shame, in the presence of many thousands of 
 spectators who behaved towards her with great 
 decency and humanity. Grey lived in the High 
 Bridge, and was famous for making excellent 
 mutton pies, to which she returned at the 
 expiration of her banishment, and resumed the 
 making of pies, for which she had a greater 
 demand than before." 
 
 X 
 
 'A View of the Pillory, made in Newcastle, December, 1812, 
 for Johnson Keed, a crimp. 
 
[i86] 
 
 It would appear that Jameson resumed his business, as in the Newcastle 
 Directory for 1788, under "Engravers" we have "Beilby and Bewick, south side 
 of St. Nicholas's Churchyard; Thomas Jameson, ditto." But in one of the lives 
 of Bewick it is stated that Jameson's business fell off, which brought the other 
 firm very rapidly to the front. 
 
 Another forgery was committed upon the bank in 1799, which might have 
 proved of very great inconvenience, had it not been nipped in the bud by the prompt 
 and energetic action of Mr. Boyd. He has left a most graphic account of the 
 chase and capture of the forger, which I copy from the MS. in his own writing : — 
 
 ACCOUNT OF LOUGH THE FOKGER. 
 
 On Wednesday the 23rd of October, 1799, between the hours of 10 and 11 in the forenoon, a 
 decent, well-dressed young man entered the Newcastle Bank and presented nine twenty shilling notes 
 to Mr. Geo. Gibson, the cashier. On looking them over he immediately knew eight of them to be 
 forged, and carried them into the inner room to Mr. Wilkinson, one of the partners, who called Mr. 
 Marshall and myself into the room where he was, and informed us of the circumstance. The person 
 who presented them was then called for. On enquiring where he had got the notes then lying on 
 Mr. Wilkinson's desk, he answered he could not tell of whom he had received them, and on further 
 enquiry said his name was Lough, that he travelled for the house of Messrs. Cooperthwaite & Co., of 
 London, and that at present he was upon his round, that he received the notes in question in the 
 neighbourhood of Carlisle, and that having offered them with others at the house of Messrs. Toritus 
 in Carlisle for the purpose of procuring a Bill upon London to remit to his employers, Toritus told him 
 that eight of the notes were forged, and that they could not take them, upon which he took a seat in 
 the diligence and came to Newcastle to get value for them. Mr. Wilkinson informed him that he would 
 not give cash for them, but desired him to call in a short time, and that he should have a final answer. 
 Lough asked in how short a time, Mr. Wilkinson answered at any time before 3 o'clock in the 
 afternoon at which time the bank closed. Three o'clock arrived, but Lough returned not. He was 
 of course strongly suspected of being concerned in the forgery, and enquiry having been made for him 
 at Sunderland's Inn where the Carlisle coach comes to, it was found he had not been there since the 
 morning, and had left his bill unpaid, it was then determined that some person should be sent in 
 pursuit of him, and as it was suspected that he had taken the Carlisle road which he had come the day 
 before, after procuring a warrant to apprehend him I set off about six o'clock in a post chaise with 
 Manners the county bailiS for the purpose of pursuing him. We made several enquiries on the road, 
 but got no intelligence till we arrived at Heddon-on-the-Wall, when describing his dress and person to 
 a woman who lives in a public house in that village she thought she remembered to have seen a person 
 answering the description pass her house in the forenoon of that day. We then proceeded to Harlow 
 Hill where we found that Lough had dined, and not being able to procure a post chaise had proceeded 
 to Hexham on foot. We then resumed our journey, and arrived at Hexham at ten in the evening. 
 On enquiring for Lough we found he had been there some time ago, and that he had enquired for a 
 post chaise to take him forward towards Carlisle, but not being able to procure one he had hired a 
 horse to carry him to Glenwhelt. We found from the landlady of the Golden Lion at Hexham that 
 he had lived there from the Friday preceding till the Tuesday, when he went in the diligence to 
 Newcastle, and that before he had set ofi for Glenwhelt he had packed up a trunk and parcel, and had 
 given them to the Alston carrier. We found the carrier in bed, and told him we had a warrant to 
 apprehend the person who had left with him the trunk and parcel, and that he must deliver them to 
 us. After some hesitation he complied, and we found them directed to "Richard Thompson, 
 Milmerby, to be left at Alston till called for, carriage paid." These we committed to the charge of 
 Mrs. Hutchinson at the Golden Lion till we returned. On enquiring of her whether Thompson (for 
 he went by that name in Hexham) had discharged his bill, she said he had, and that he behaved very 
 
[i87] 
 
 decently whilst in her house, but they wondered very much what his business could be, as he never 
 stirred out of the house, and did not seem to be acquainted with any person ; she said he paid his 
 bill on Tuesday when he set out for Newcastle with a Scotch note, but that this afternoon he 
 had given her a 20s. Newcastle note. I immediately requested to see this last note ; Mrs. H. said she 
 had it not, for not having silver sufficient to change it she had sent it to a neighbour for that purpose. 
 The person was then sent to who returned the note by a servant to the inn, and I found it to be a 
 forged note. We immediately proceeded in a chaise with four horses to Glenwhelt ; the keeper of the 
 turnpike gate remembered to have seen a man answering Lough's description pass through the gate 
 on a brown horse and enquiring the road to Glenwhelt. At Haydon Bridge he had passed unobserved ; 
 at Haltwhistle the landlord of the inn informed us that a person such as we described had called there 
 on the preceding evening (it being now the morning of the 24th October) and had got a glass of spirit 
 without alighting and enquired how far it was to Glenwhelt. To this place we proceeded, and learnt 
 from the servant of the inn that the person we were in quest of was in the house and in bed. We 
 ordered the landlord to be called, and on being made acquainted with our business readily granted us 
 his assistance. We now proceeded to the bed room where Lough slept, and having entered the room 
 found the object of our search. The bailiff immediately arrested him, his clothes being searched wo 
 found a red morocco pocket book and a parcel resembling a half bound octavo book wrapped in a hand 
 bill, and tied with a piece of string, the pocket book contained a variety of memorandums and a letter 
 to Mr. Blair, White Lion Inn, Carlisle. On opening the parcel it was found to contain the engraved 
 plate from which the notes had been struck, and about 200 notes ready for filling up (on being counted 
 the parcel contained 196 notes). During our stay at Glenwhelt Lough avoided all conversation, and 
 only gave evasive answers to all questions put to him during our journey to Newcastle, where we 
 arrived at one o'clock p.m. On searching Lough's trunk 16 notes filled up and ready for circulating 
 were found in a small book of the roads with the following letters on its back — R. L., 1799. After 
 being examined by the magistrates he was fully committed to take his trial at the next assizes. Lough 
 remained about three months in gaol, and contrived with three other prisoners to make a hole in the 
 wall of the prison through which he and two others escaped. Lough's chains were found in the 
 plantation at Fenham ; ho proceeded to Liverpool, took shipping for America, and was never after 
 heard of. W. BOYD. 
 
 A local paper tells how Lough and two other prisoners effected their escape: — 
 
 " Wrenching a bar from the inside of the chimney of their cell, they forced their way up the chimney 
 to the roof of the prison, whence, cutting their bed-clothes and knotting the pieces together which they 
 tied to a sun-dial on the roof, they descended to the field adjoining Gallowgate. Another man 
 attempted to escape at the same time, but being rather corpulent, he stuck fast in the chimney and 
 could neither get out or back again till he was assisted down by the keeper." Two of the men were 
 recaptured, but Lough escaped. 
 
 From time to time various interesting advertisements appear regarding the loss 
 of the notes of this bank. 
 
 January 22, 1757. A promissory note. No. 680, dated the 16th February, 1756, for £40 payable 
 to Thomas Aubone or bearer, and issued by Matthew Bell, Esq., and Company, is lost, and a reward of 
 five guineas offered for its recovery. 
 
 March 6, 1756. Lost an old bank note for £100. As it is not yet restored, though ten guineas' 
 reward has been offered, it's probable the person who found it is resolved to keep it. That such 
 dishonesty may be brought to light 'tis earnestly entreated that such as are possessed of an old 
 hundred pounds note will send them to the bank office, where they will get other notes or money to the 
 value, or it that be inconvenient, they will please to acquaint Mr. James Spencer, Secretary to the 
 bank, of their names or places of abode, and the number and date of the notes they have. 
 
 Another announcement records the loss of a £20 note, " late in the possession 
 of William Smith, surgeon :" the owner does not know the number but offers a 
 reward of five guineas to anyone who has lately paid him a £2Q> note, and can give 
 
[^ 
 
 such particulars as will lead to finding the number of the lost note — information to 
 be given to Mr. Henry Aiskell, attorney, in the Middle Street. These early notes 
 were all issued in the name of the first holder or bearer, and were afterwards 
 freely circulated. One of the firm, Mr. William Boyd, took a great interest in the 
 various methods used to prevent forgery. A letter from him to Mr. Barnes dated 
 May 10, 1822, has a long account regarding forged notes and paper, and says, "Mr. 
 Bewick spent all one afternoon examining some paper you sent," and adds, " our 
 notes have not been forged for twenty years," and lays claim to general good 
 workmanship and certain red flourishes which are very difficult to imitate. 
 
 MATTHEW BELL (i). — One of the Woolsington family, several generations 
 of which were closely connected with the commerce of Newcastle and district. 
 He married Jane, daughter of Richard Ridley of Heaton Hall. Mr. Bell was 
 elected Sheriff of Newcastle in 1736, and Mayor and Alderman in 1757. In 1778 
 he resided in the middle of Westgate Street. He died September 3rd, 1786. 
 
 MATTHEW BELL (2).— Son of Matthew Bell (i). In 1767 he married 
 Dulcibella, daughter of Sir John Eden of Windlestone. He was Lieut.-Col. of the 
 Northumberland Militia, and in the Newcastle Directory of 1778 is described as 
 " Fitter — foot of Ruecastle-chair — Quayside." In the Register of All Saints' Church, 
 Newcastle, his burial is recorded under date January 2nd, 1783, "Matthew Bell, jun., 
 Col. in Northumberland Militia." He died in the life-time of his father, and his son 
 
 MATTHEW BELL (3) came of age about the end of 1791, when he joined 
 the bank. He married (by special license at Middleton Lodge, Yorkshire), in 
 1792, Sarah Frances, daughter of Chas. Brandling, Esq., Gosforth. He was High 
 Sheriff of Northumberland in 1797, and died April 20th, 181 1. 
 
 RALPH CARR of Newcastle and Dunston Hill (son of John Carr of Dunston 
 Hill,) was born September 22nd, 171 1. He was apprenticed to Matthew Bonner, 
 Merchant Adventurer and Boothman. At the age of 47 he 
 married Isabella, daughter of Rev. Henry Byne, Vicar of 
 Ponteland. He resided at Cross-house, Westgate, afterwards 
 at Hanover Square. He was a member of the Hanover 
 Square Chapel, and one of the trustees. He died May 7th, 
 1806, and was buried in the chancel of Ponteland Church. 
 A pedigree and account of the family is now in the press for 
 private circulation. I have been favoured with the proof- 
 sheets, and from them I have gathered much of my information 
 regarding the Old Bank. 
 
 JOHN COOKSON.— A son of Isaac Cookson (son of Wilham Cookson of 
 Penrith), who settled in Newcastle about 1700 as a Merchant Adventurer. 
 
 
[i89] 
 
 John Cookson purchased Whitehill, near Chester-le-Street, about 1745. He 
 was a member of the Hanover Square Chapel. He died in 1783, leaving by his 
 wife Elizabeth (daughter of Thomas Lutwidge of Whitehaven), a numerous issue, 
 intimately connected with the trade of Tyneside. His death is thus recorded in 
 the Newcastle Chronicle, December 20th, 1783: — "Died, Wednesday, at an 
 advanced age, Isaac (? John) Cookson, Esq., of Whittle, in the county of Durham, 
 one of the proprietors of the Newcastle Bank, and of the Close-gate Glasshouse 
 in this town." 
 
 His daughter Elizabeth married Samuel Castell, Esq., Banker (Castell, 
 Whately, and Powell, 65, Lombard Street), May, 1768. 
 
 ISAAC COOKSON, son of John, became a partner in the bank at the death 
 of his father. He married, at All Saints' Church, February 29th, 1772, "Miss 
 Peggy Wilkinson, of Pilgrim Street," daughter of Richard Wilkinson, Attorney. 
 
 Mr. Cookson doubtless carried on many of his father's business undertakings. 
 The Newcastle Directory for 1778, gives: — "Cookson & Co., Founders, near 
 Close-gate," and under "Glass Ware-houses" we find "Cookson & Co. without 
 the Close-gate." 
 
 The Cookson family for many years were members of the Hanover Square 
 Congregation, founded by the celebrated Dr. Gilpin near the Close-gate. The new 
 place of worship in Hanover Square was to have been opened August 28th, 1726, 
 but Mr. Bennett the minister was seized with a sudden illness and died in a few 
 days. His son Timothy Bennett, who afterwards settled as a physician at Norwich, 
 conveyed the ground to twelve trustees, amongst whose names we find Isaac 
 Cookson and Joseph Airey (Old Bank), and David Landell (probably the partner 
 in Messrs. Davison-Bland & Co.), in trust for the Congregation of Protestant 
 Dissenters at Newcastle. " Isaac Cookson, Sen., Esq., presented to the vestry of 
 this chapel, six quarto volumes of MS. notes of Bennett's sermons written out by 
 his father, John Cookson, when apprenticed to Mr. Joseph Airey." (Mackenzie.) 
 
 Ehzabeth, the eldest daughter of Isaac Cookson, married at Chester-le-Street, 
 October 24th, 181 1, Robert Surtees of Redworth Hall, and died there May 8th, 
 1847, aged 63. Another daughter, Emma Donna, married at Chester-le-Street, 
 2ist June, 1832, Colonel Robert Bell of Fenham, and was left a widow, January 
 loth, 1851. She died August ist, 1859, aged 'ji. Mr. Cookson was Sheriff of 
 Newcastle-on-Tyne, 1779-80, and died December 13th, 183 1. 
 
 JOSEPH AIREY. — Members of the Airey family were numerous and 
 influential in the North of England in the seventeenth century, and their inter- 
 relationship puzzled even Sir Cuthbert Sharpe. Joseph Airey resided in Pilgrim 
 
[i9o] 
 
 Street, and the early offices of the bank were at his house. He was a great- 
 grandson of the famous Puritan Alderman, Ambrose Barnes. When Thomas 
 Barnes, younger son of Ambrose, made his will in 1731, he appointed Joseph and 
 Ruth Airey his executors, and left them property in Sidgate and two mills at 
 Chimney Mills. 
 
 The Aireys are not to be found among the members of the Corporation of 
 Newcastle, for they were uncompromising dissenters, and the sacramental test 
 kept them out. It was through the Airey family that the valuable MS. of 
 Ambrose Barnes came into the possession of the Rev. William Turner, one of the 
 famous ministers at Hanover Square Chapel, and by him was presented to the 
 Literary and Philosophical Society of Newcastle. It was subsequently published 
 as Vol. 50 of the Surtees Society's Publications. The MS. was most unfortunately 
 destroyed in the recent fire at the institution named. 
 
 Joseph Airey was one of the projectors of the Infirmary, and its first Treasurer. 
 He belonged to a club (of which Mr. Lambert the surgeon was also a member), 
 which is supposed to have issued the paper published in the Newcastle Coiirant 
 signed ^*B.K.," which suggested the first idea of an Infirmary. To preserve the 
 memory of this paper, one of the principal wards is called B.K. The Newcastle 
 Coiirant of June 4th, 1757, has the following announcement : — 
 
 " Saturday last, Mr. Joseph Airey, Treasurer of the Infirmary and one of the 
 proprietors of the Bank, was married at All Saints' Church to Miss Fanny Hendy, 
 a very agreeable and accomplished young lady," to which announcement the 
 Newcastle Journal added the remark : — " A lady endowed with every accomplish- 
 ment to render the married state happy." Mr. Airey died in the latter end of the 
 year 1770. His nephew. Sir George Airey, greatly distinguished himself in the 
 Peninsular war, and died in Paris. He was father of the Crimean veteran who 
 became Baron Airey. 
 
 JOSEPH SAINT. — Mr. Saint's name appears for the first time in local history 
 under date 1770, when he succeeded Joseph Airey in the Treasurership of the 
 
 Infirmary. In Brand's History of 
 Newcastle, Vol. I. p. 413, is a view 
 of the institution which bears this 
 inscription, "To the memory of 
 Mr. Joseph Saint, Late Treasurer 
 of the Infirmary of Newcastle-upon-Tyne — this view of the Edifice which he had 
 ordered to be taken and engraved at his Expense is most respectfully inscribed." 
 At the foot of the engraving is a vignette — upon an urn is the motto " Vivit post 
 
[^91] 
 
 Funera Victas," and on a scroll at the bottom "Tis all a brother all a friend can 
 give." In 1778, Joseph Saint was a Common-Councilman, and resided at the foot 
 of Pilgrim Street. 
 
 Mr. Saint's death is announced in the Newcastle Chrojiicle of October 4th, 
 1783, thus : — " Died— Saturday, at his house in Pilgrim Street, in the 53rd year of 
 his age, Mr. Joseph Saint, one of the proprietors of the Newcastle Bank, the 
 treasurer to the Infirmary, and one of the common-council of the Corporation. 
 His remains were interred at Morpeth on Tuesday." 
 
 JOHN WIDDRINGTON was the only son of John Widdrington of New- 
 castle, "the honest attorney of the north," by his marriage with Jane, daughter of 
 John Carr of Dunston Hill, and niece of Ralph Carr, the founder of the bank. He 
 joined the bank in 1771, resided in Hanover Square, and married Jane, daughter 
 of Rev. William Swinburn, Vicar of Tinden, Essex, and Midhurst, Sussex., a cadet 
 of a Northumbrian family. In 1783, Mr. Widdrington succeeded, by the death 
 of his cousins John and Nathaniel, to his patrimonial estates at Hauxley, which 
 the Widdrington family had held since the dissolution of the monasteries. He was 
 appointed auditor to the Duke of Northumberland, March 1767, in the room of 
 Richard Seamour, Esq., resigned. 
 
 The Newcastle Chronicle, October 8th, 1774, contains the following announce- 
 ment :— " Notice is hereby given that John Widdrington will hold his Audit for 
 the receipt of Fee Farm Rents at Newcastle, at his house in Hanover Square, on 
 Wednesday, October 12th." A receipt for Fee Farm Rent, signed by Mr. 
 Widdrington, is here given : — 
 
 T^orthumb' 1 p Ecelved this / ^ 
 
 
 the Sum of %//'jt /-h^^^u-*^^ 
 
 Da^ of OSIober, 1 79 ^^of "> ^. 
 
 \ 
 
 - f^ 
 
 being Half a Year's Fee-Farm Rent, granted from the 
 Crown, and' due ^^^ Mi^k^^i.,,^, i-ift .,^*^^ ^!^. yy, jiA^„ / /^ ^ . P 
 
 t^rii^t/. Uy/^^A ffc^ z _ rpr ^u<^ 
 
 and- due at Michaelmas laft, unto ^^'y^^/C'^off S^/it • 
 
 in the faid County oi Northutnherland* 
 Allowed, out of the Sum above-mentioned to be received, the Sum of ^^^'K^ //L^^oc^ l^ ^ , 
 
 7.^y7K Rec'. 
 
 /_ 
 
 on Account of Land Tax. 
 
 Acquittance 4^. 
 
 'yon art btnhj i,j;„d ta pay, nitbout furtbA- lulice, enihe ^ , ^ 
 
 J "/*'-'<"■'"'""' 'J '*' /ome doj, ibt /urn that viill k.comt due at LaJj-Daj next. 
 
 itj of April »<»/, at the White Swan, In Alnwick, ami 
 rent atovc-meiUitieJ, andtofridmealthe/amtlimttbu 
 
 mt toy 
 
[i92] 
 
 John Widdrington died at Hauxley, November nth, 1797, S.P., having by 
 his will, dated August 6th, 1783, devised his real estate to his two kinswomen, 
 Sarah, daughter of Edward Brown of Broomhill, and Sarah, daughter of Captain 
 Teasdale, who were enjoined to assume the surname of Widdrington. In conse- 
 quence of his connection with the bank, his executors became involved in a 
 chancery suit which terminated successfully in 1809, and is commemorated by a 
 stone pillar in the park, south of Hauxley Hall. The Newcastle Advertiser of 
 November 25th, 1797, contains a eulogy upon his character. His reputation 
 extended far beyond the district in which he laboured. 
 
 JAMES WILKINSON, merchant, was for many years an elector and 
 member of the Common Council of Newcastle. Beyond those positions he could 
 not be tempted to rise. In 1757 he and two others were fined for refusing to serve 
 the office of Sheriff, and in 1795 he and several others were fined 200 marks, 
 or ^133 6s. 8d. each, for declining to don the gown and assume the magisterial 
 responsibilities of aldermen. The middle of Saville Row was his residence in 1788. 
 
 THOMAS GIBSON became a partner in 1783. 
 
 GEORGE GIBSON joined the firm in 1803, and died in 1806. It is difficult 
 to identify these partners. They were probably the sons, or son and grandson of 
 Wilham Gibson, town clerk, who died July 4th, 1785. Thomas Gibson's death 
 is recorded as follows : — "Died, September 3rd, 1832, Thomas Gibson, Banker, a 
 partner in Ridley & Co.'s Bank, in London, aged 73." He would therefore have 
 been only 24 years of age when he joined the bank in 1783. 
 
 SIR MATTHEW WHITE RIDLEY (i).— On June i8th, 1750, Matthew 
 White, Esq., of Blagdon, died there. He was son of Alderman Matthew White, 
 and was succeeded by his son, Matthew White, whom he had by the eldest 
 daughter and one of the co-heirs of John Johnson, Esq., of Bebside. He left also 
 one daughter, the wife of Matthew Ridley, Esq. Matthew White, the son, was 
 created a baronet by King George the Second, in April or May 1756, and in default 
 of heirs male the title descended to the heirs male of his sister, " now wife of 
 Matthew Ridley of Heaton, Northumberland, alderman of Newcastle, and one of 
 the representatives in Parliament for that town." Sir Matthew White died 
 childless, and the title passed to the eldest son of Matthew Ridley, who 
 became Sir Matthew White Ridley. He was chosen one of the members 
 of Parhament for Morpeth, 1768 — Mayor of Newcastle, 1774, 1782, and 
 1791 ; M.P. for Newcastle in eight successive Parliaments, namely, those 
 which began in 1774, 1780, 1784, 1790, 1796, 1802, 1806, 1807. In the 
 Newcastle Directory for 1778 he heads the list of aldermen, and is described 
 
[i93] 
 
 as residing at the head of Westgate Street. He died April i6th, 1813, 
 after an illness of two days, at his house in Portland Place, London, aged 66. 
 He was buried in St. Nicholas' Church, Newcastle, May 3rd. In 1820 a beautiful 
 monument, by Flaxman, was erected to his memory in the nave of St. Nicholas' 
 Church. 
 
 SIR MATTHEW WHITE RIDLEY (2) of Blagdon and Heaton Hall, was 
 the eldest son of the second baronet, by his wife Sarah, sole heiress of Benjamin 
 Colbome of Bath. He was born August 18th, 1778, matriculated at Christ Church, 
 Oxford, April 24th, 1795, and took his degree of B.A., March 9th, 1798. He was 
 first elected member for Newcastle, 18 12, upon the retirement of his father. He 
 sat during seven parliaments, extending over twenty-four years. He married, 
 August 3rd, 1803, Laura, youngest daughter of George Hawkins, Esq., by w^hom 
 he had six sons and six daughters. He died at Richmond, Surrey, July 15th, 1836, 
 in his 58th year, and is described as "head of the old established banking house of 
 Newcastle." 
 
 SIR MATTHEW WHITE RIDLEY (3) was the eldest son of the third 
 baronet, and at his father's death succeeded to his position in the bank, which he 
 retained till the business was transferred to the Northumberland and Durham 
 District Bank, in 1839. He died in 1877. The present bearer of the name and 
 title is his eldest son. 
 
 CHARLES WILLIAM BIGGE was the son of Thomas Charles Bigge of 
 Newcastle and Little Benton. He was born October i8th, 1773. At the death of 
 his father in 1794, he came into the family property. He subsequently purchased 
 the Linden estates (near Long-horsley), from the Earl of Carlisle. In 1802 he 
 married Alice Wilkinson of Thorpe, Yorkshire, kinswoman of Isaac Cookson, 
 Banker. In the year of his marriage he was High Sheriff of Northumberland. In 
 1838 it was understood that a baronetcy was offered to him, but with characteristic 
 modesty he declined the honour. His portrait, painted by Snow, was presented 
 to the Mechanics' Institute, Newcastle. For 50 years Mr. Bigge was one of the 
 leaders of the Whig party in Northumberland. He died at Linden, December 
 8th, 1849, aged y6 years, and was succeeded in the estates by his grandson, Charles 
 Selby Bigge ; his eldest son (Charles John), having died before him (March 1 6th, 
 1846). 
 
 THOMAS HANWAY BIGGE, youngest brother of Charles William, married 
 Charlotte, daughter of the Rev. James Scott, Rector of Itchen Ferry, and St. 
 Mary's, Southampton, and died December 24th, 1824, leaving issue. He was 
 buried in Ovingham church-yard. 
 
[i94] 
 
 A few incidents relating to the members of the Bigge family, indicative of the 
 times, are given in a footnote.* 
 
 JOHN SPEDDING was a prominent member of the Reformed Town Council 
 (elected Jan. ist, 1835), and one of the first Aldermen appointed under the 
 Municipal Reform Act. He was nephew of Mr. Thomas Gibson, and was admitted 
 to the firm at the death of his uncle in 1832. 
 
 WILLIAM BOYD (2). — It is stated that ancestors of the Boyd family were 
 sturdy yeomen in the neighbourhood of Alnwick, who about the year 1700 
 migrated to Newcastle. William Boyd (i) was born in 1739, married Juhana Peat, 
 
 the only child of Robert Peat, 
 silversmith, of Newcastle. Tra- 
 dition had it that Mr. Boyd 
 was a clerk in the " Old Bank." 
 An endorsement in his writing 
 upon the back of a draft dated 
 August, 1789, as shown in the 
 margin, translates tradition into 
 fact, and shows that at that 
 time he held a confidential 
 position in the bank. He died 
 in the same year, leaving a son 
 WiUiam Boyd (2), born October 
 26th, 1 773, and therefore sixteen 
 years old at the time of his father's death. He entered the bank as a clerk, 
 married Esther Locke, daughter of Robert Locke, shipowner, of Newcastle, and 
 presumably passed through various stages of promotion. In 1799 he was entrusted 
 with the pursuit of Lough the forger, and the clever and expeditious manner in 
 which he effected the capture of the fugitive may have hastened his advancement. 
 
 * " August 20th, 1763.— A few days ago was married at St. Nicholas' Church, Bath, Thomas Bigge of Little Benton in 
 Northumberland, Esq. (late an eminent Mercer on Ludgate Hill) to Miss Kundell of Baldud's Buildings in that 
 city." " November 26th, 1763.— On Tuesday night the house at West Jesmond belonging to Edward Bigge, Esq., 
 was broken into and robbed of several pieces of Plate, and some other things of considerable value." 
 " September 8th, 1764.— This morning James Edgar, who was found guilty at our Assizes of a Burglary and 
 Larceny committed in the house of Edw. Bigge, Esq., was pursuant to his sentence, executed without the West 
 Gate. He was attended at the Place of Execution by four Dissenting Ministers, and haved with great Decency, 
 earnestly exhorting the Spectators to take Warning by his unhappy Fate, to avoid irregular Courses and the 
 Allurements of Vice." "November 29th, 1765.— On Saturday night last, as Thomas Chas. Bigge, Esq., and his 
 servant were riding to Little Benton from this town, they were stopped by two foot-pads, who demanded their 
 Money, but making some resistance, one of the Fellows aimed a blow with a club at the gentleman's servant, 
 which happily missed him but hit his horse on the head, and brought him to his knees, some persons then 
 coming up the villains immediately got off." " January llth, 1760.— Saturday last, the Lady of Thomas Bigge of 
 Little Benton of a son and heir." 
 
[^95^ 
 
 A paid bill drawn by Surtees, Burdon, & Co., upon Barclays, Tritton, & Bevan, 
 dated November 27th, 1802, is released "p. pro Ridley & Co. Wm. Boyd," 
 showing the important position he held at that time. In 1807 Mr. Boyd was 
 admitted a partner, the reward of able and valuable services, more often obtained 
 then than now. Mr. Price, in his account of the London Banks, quotes many 
 interesting cases of clerks rising to partnerships, and Sir Wm. Forbes, in his 
 " Memoirs of a Banking House," records several others. 
 
 Mr. Boyd evidently took a very active part in the management of the bank, 
 which he continued until the business was transferred to the Northumberland and 
 Durham District Bank in 1839. He evinced great interest in the early history of 
 his own bank, and those of his neighbours. His copy of Brand's " History of 
 Newcastle" is interleaved with many interesting documents and notes, amongst 
 them being (i) a Twenty Shilhng Note, dated March 17th, 1758 — the earliest 
 English provincial one pound note issued ; (2) the original sheets that were signed 
 when the merchants and others agreed to take the notes of the Newcastle bankers 
 on June 30th, 1803 ; (3) an historical account of the bank, written by himself; 
 and (4) a graphic description of his capture of Lough the forger. The volume is 
 now in the possession of his grandson Mr. Wm. Boyd of Benton. From his letters 
 and papers I gather that Mr. Boyd played an active part in steps that were taken 
 from 181 5 to 1820 to stay the alarming spread of forgery. He corresponded with 
 all the known experts on the subject, and had many interviews with Thomas 
 Bewick, the master engraver of his time. Mr. Boyd left active work when the 
 bank was transferred, and died February i8th, 1855, aged 82. 
 
 ROBERT BOYD, eldest son of Wm. Boyd, became a partner in the firm 
 January ist, 1827, and remained so until the transfer of the business to the District 
 Bank in 1839, when he became a director in that estabhshment. He was never 
 married, and died at sea on board the "Romulus," off Carthagena, December 
 14th, 1844, aged 40. 
 
 William Boyd (3), second son of the banker, became Vicar of Anclifife and 
 Archdeacon of Craven. He died July i8th, 1893. ^Y ^^s marriage with Isabella 
 Twining, he became connected with another noted banker's family. 
 
 Miss Juliana Boyd (daughter of E. Fenwick Boyd of Moorhouses), grand- 
 daughter of the banker, will be remembered as an ardent antiquary and collector, 
 and authoress of "Bewick Gleanings, with Lives of Bewick and his Pupils." She 
 died January loth, 1892. 
 
 The family is now represented by Mr. William Boyd, of Longbenton ; Mr. 
 George Fenwick Boyd, of Whitley ; and Mr. Hugh Fenwick Boyd, Barrister-at-Law, 
 all grandsons of the banker. 
 
[196] 
 
 Bell, Moo^aU, d Co. 
 
 Founded 1788. 
 
 ScarborouQb. 
 
 Partners. 
 
 Edward Hopper Hebden. 
 William Hebden. 
 yohn Woodall Woodall. 
 Charles William Woodall. 
 
 Henry Cook. 
 John Bell. John Woodall {2) 
 
 John Woodall (i) John Tindall. 
 
 James Tindall. Timothy Hardcastle. 
 
 Gawan Taylor. John Woodall (3) 
 
 ON May ist, 1788, John Bell, John Woodall, James Tindall, and Gawan 
 Taylor entered into partnership as bankers, each subscribing ;^500, in all 
 ^2,000. Previously the partners had been shipowners, and engaged in 
 various branches of business. They at once commenced to issue notes which 
 appear to have been freely accepted, as by August, 1789, the amount outstanding 
 was ^20,328 los., which upon the first balance of accounts in January, 1790, had 
 extended to ;^22,ooo. The original premises occupied were situated at Palace 
 Hill, Merchants' Row (near the present Eastborough Congregational Church). 
 They subsequently removed to Queen Street, and in 1864 erected the present 
 commodious building in Newborough Street. 
 
 S^mrbprotiffl) ©iTiii? 
 
 y/r^///. 
 
 
 r 
 
 
 \ 
 
 ■'•••••'-) ' / 
 
 ^ 
 
 . y.y 
 
 \ (^ . „r" .y-yC^- ":,.y^.^^:^^6pz- 
 
 Mr. Bell died in January, 1791, the three remaining partners carrying on the 
 business till the close of the century. In 1801 Henry Cook (who for some years 
 had been confidential clerk to the firm) was taken into partnership. At this time 
 the note issue was — five guinea notes, ^26,000 ; guinea notes, ;^8,5oo, both 
 payable in Scarborough only ; accepted notes, payable in London, ;^900 — in all 
 ;^35,400. The London notes expired prior to 18 10. As the capital of the partners 
 had been considerably increased since the commencement of the bank, the note 
 
[197] 
 
 issue was very much more in proportion to capital than many banks that we have 
 reviewed, which may account for the firm weathering the storms that swept away 
 their colleagues. A five guinea note is here produced, bearing the signature of one 
 of the original partners. 
 
 In other parts of this work I remark upon the practice of cutting off all 
 unnecessary margin of a note to reduce the weight, and so save postage. The 
 illustration is a good example of the custom, as this note is pared down to the 
 printed matter on every side. 
 
 In 1811 James Tindall left the firm, John Woodall, Jun., and John Tindall 
 being admitted to the partnership. 
 
 In 1 8 14 the note issue appears to have reached its greatest height, being close 
 upon ;^6o,ooo. By the Act of 1844 the note issue was fixed at ^24,873. About 
 half this sum appears to be the present average circulation. 
 
 Henry Cook is omitted from the firm in 183 1, his place being taken by 
 Timothy Hardcastle. John Woodall, Sen., one of the original partners, died in 1832, 
 and about this time his grandson, John Woodall, son of John Woodall, jun., was 
 admitted to the partnership. 
 
 In 1840 the firm is announced as the "The Old Bank," Messrs. Woodall, 
 Tindall, Hebden, & Co., 39, Queen Street, and they are stated to own a great part 
 of Falsgrave. By 1848 Mr. Tindall had retired, the remaining partners being 
 John Woodall, Edward Hopper Hebden, and Timothy Hardcastle, all of 
 Scarborough. In 1855 Mr. Hardcastle's name is omitted. By 1863 WiUiam 
 Hebden and John Woodall Woodall are added to the firm. 
 
 In 1878 John Woodall ceases to be a partner, Edward Hopper Hebden 
 becoming senior and Charles William Woodall the junior partner. In 1881 the 
 firm consisted of William Hebden, John Woodall Woodall, and Charles William 
 Woodall, and it remains intact at the present day. To the courtesy of these 
 gentlemen I am indebted for much of my information. 
 
 Their first London Agents were Down & Co., which firm in 181 6 became 
 Sir Peter Pole & Co. (they having joined Messrs. Down in that year). In 1825 
 Messrs. Pole stopped payment, and caused much inconvenience to the numerous 
 country bankers for whom they were agents. Messrs. Denison then became 
 London Agents for the Scarborough firm. Subsequently, Messrs. Barclay & Co. 
 were appointed, and retain the agency to the present time. 
 
 The Woodalls have been a prominent family in Scarborough for at least 150 
 years, and have done much for that Queen of watering-places. As Bailiffs in the 
 olden time, and Mayors in the later, they have ever worked hard in the service of 
 the town. 
 
[_i^8j 
 
 JOHN WOODALL, the great-grandfather of the present partners, was the 
 founder of the bank in 1788. He died in 1832, and was buried in Seamer Church, 
 where a handsome monument was erected to his memory. His son, JOHN 
 WOOD ALL, entered the bank in 181 1. He married Ann, eldest daughter of John 
 Dowker, Esq., of Salton, Yorkshire, and died in 1836, and was buried at Seam.er. 
 
 His eldest son, JOHN WOODALL, the third of the name in the bank partner- 
 ship, was born October 25th, 1801. After spending several years at sea, and some 
 time longer in extensive travel, Mr. Woodall entered the bank, and became a member 
 of the firm about the time of his grandfather's death. Following in the footsteps 
 of his father and grandfather, he had twice served the town as junior and senior 
 bailiff before the passing of the Municipal Corporation Acts in 1835, and was the 
 only member of the old corporate body who was elected to the new Council. He 
 was chosen Mayor in 185 1-2, and on his retirement, presented to the Corporation 
 the splendid gold chain which has been worn by the Mayors ever since. He 
 owned a large amount of property in the neighbourhood of Scarborough, was a 
 County Magistrate, and a Deputy Lieutenant for the North Riding. As Chairman 
 of the Board of Guardians and of the Water Company, he was most energetic, 
 untiring, and unceasing in his attention to the health and prosperity of the town. 
 He married his cousin, the daughter of the Rev. W. Woodall, Rector of Branston 
 and Waltham, Leicestershire. In 1846 he rebuilt St. Nicholas' House, where the 
 family now reside. He died February 9th, 1879, and was buried at Seamer. 
 
 JOHN WOODALL WOODALL, M.A., F.G.S., &c., eldest son of the third 
 John Woodall, was born December 3rd, 1831. Educated at Rugby and Oxford, 
 Mr. Woodall took his degree in 1854. In the University calendar he is marked 
 first class in natural science. In 1862 he became a partner in the bank. Soon after 
 this he entered the Council, and has served four times as Mayor. He is also a 
 Magistrate and a Deputy Lieutenant for the North Riding, besides holding a 
 number of other positions of a public character, but he is perhaps best known in 
 connection with the Fishery Boards and Committees, where his great knowledge 
 of the subject, and his deep interest in it, have made him a most valuable colleague. 
 
 CHARLES W. WOODALL, another son of the third John Woodall, is a 
 barrister, but joined the partnership in 1878, shortly before his father's death. 
 
 EDWARD HOPPER HEBDEN married the sister of John Tindall, one of 
 the former partners of the bank, and was connected with it for at least forty years. 
 His third son William followed him. 
 
 WILLIAM HEBDEN, the present head of the firm, joined the partnership 
 in 1862 or 1863. He married Juha, daughter of Col. Salmond, of Waterfoot, 
 Cumberland. He is a magistrate for North Yorkshire, and a Lieut.-Col. of the 
 2nd North Yorkshire Volunteers. 
 
[i99] 
 
 BecRett S, Co. l^orft. 
 
 (See Bower & Co., Malton.) 
 
 BIaF?e, Sir Jfrancis, $i (To. iRewcastie-upon-xrgne. 
 
 (See Batson, Wakefield, & Scott.) 
 
 Bower, Dcw6bur^, S. Co. noaiton. 
 
 Founded between 1805 & 1812. Now Beckett & Co., York. 
 
 Partners. 
 
 — Bower. James Smith. W. B. Denison. 
 
 — Dewshury. Harold Barkworth. C. B. Denison. 
 
 R. Bower. R. H. Bower. W. F. H. Thomson. 
 
 H. W. Hutton. John Hall. E. W. Beckett. 
 
 E. T. Hutton. J. R. Pease. E. B. Faber. 
 
 James Hall. G. A. Buncombe. 
 
 AT some period between 1805 and 181 2, this bank was commenced at Malton. 
 It does not appear in the lists for 1805. Messrs. Campion's books show 
 that they had banking transactions with the firm in 18 12, as Bower, 
 Dewsbury, & Co. They are mentioned in 18 16 as Bower & Co.; London Agents, 
 Curtis & Co. 
 
 By 1825 they had evidently attained a considerable position, with an extensive 
 note issue. The great panic of that year was felt even at Malton, where the notes 
 of the country bankers w^ere looked upon with discredit. It was deemed necessary 
 to hold a public meeting regarding them, when the following announcement was 
 made : — 
 
 " Malton Banks. — In consequence of the present unsettled state of the public mind in respect to the 
 circulation of Country Bankers Notes, We, the undersigned Malton Traders and Inhabitants of New 
 Malton and its vicinity, do hereby declare that we have the highest confidence in the stability and 
 integrity of the gentlemen composing the above firms and in confirmation thereof we further declare that 
 we do and shall continue to take their notes as usual. December 17th, 1825." 
 
 A long list of signatures is attached. The other banks at Malton at this period 
 were : — Messrs. Hague, Strickland, & Allen ; and Pease, Dunn, & Co. 
 
 In 1840 the firm had become Bower, Hutton, & Hall ; they were in 
 Yorkersgate, James Smith being Cashier. In the Bankers' Almanack for 1846, we 
 have "East Riding Bank — Bower, Hutton, & Co., a very old establishment. 
 Note issue £53,392'" 
 
[ 200 ] 
 
 By 1847 they had made Beverley their head-quarters, and are announced as 
 Bower & Co. of Beverley, Driffield, Malton, and Pickering ; the partners being 
 Robert Bower, Welham House, near Malton ; Henry William Hutton, Beverley ; 
 James Hall, Scorboro', near Beverley ; Edward Thomas Hutton, Beverley ; their 
 fixed note issue being ;^53,ooo. In 1850 a change of partners occurs. They then 
 become Bower, Hall, & Co. ; partners — Robert Bower, Welham House, near 
 Malton ; James Hall, Scorboro' ; James Smith, Malton (probably the previously 
 named cashier) ; Harold Barkworth, Beverley. 
 
 Another alteration took place about 1863. Mr. Smith's name is omitted, and 
 Robert Hartley Bower, Firby Hall, near Malton, and John Hall, of Scorboro', 
 were added to the firm. In 1867 Robert Hartley Bower was of Sutton Cottage, 
 near Malton. By 1869 the firm was James Hall, Robert Hartley Bower (now of 
 Welham House), and James Robinson Pease, Westwood, Beverley. In January, 
 1 87 1, George Augustus Duncombe, Beverley, joined the partnership. 
 
 On 31st December, 1875, Mr. James Hall retired, and William Beckett 
 Denison, and Christopher Beckett Denison, came in as senior partners (they 
 were also partners in the firm of Beckett & Co., bankers, Leeds), when the name 
 of the bank was changed to Beckett & Co., East Riding Bank. Upon the failure 
 of Messrs. Swann, Clough, & Co., bankers, at York, on May 8th, 1879, their business 
 was purchased by the East Riding Bank, and in 1884 York became the head 
 office of Messrs. Beckett & Co. Mr. C. Beckett Denison died October 30th, 1884; 
 in the same year Mr. J. R. Pease left the firm (He died January 13th, 1888). 
 Mr. R. H. Bower died May 25th, 1886, when the senior partner, Mr. William 
 Beckett (who had relinquished the name of Denison), and Mr. George Augustus 
 Duncombe were the only partners. 
 
 In the following year Wilfred Forbes Home Thomson entered the firm. 
 Mr. William Beckett died 23rd November, 1890, when his son, Ernest William 
 Beckett, and Edmund Beckett Faber joined the partnership ; these two gentlemen 
 being partners also in Beckett & Co., Leeds. The present partners, therefore, are 
 G. A. Duncombe, Beverley ; Ernest William Beckett, Kirkstall Grange, Leeds ; 
 Edmund Beckett Faber, Belvedere, Harrogate ; and W. F. H. Thomson, 
 Nunthorpe, York. This is one of the few private banks that have survived 
 for nearly a century, although its name and the situation of its head office have 
 changed. 
 
 It is probable that the Bower family originally came from Newcastle-upon- 
 Tyne, as in old St. Mary's Church, Malton, upon a tablet facing the altar, is the 
 following inscription : — " Here lieth the body of Mr. John Bower, late of 
 Newcastle, Mercer, who departed July 26, 171 5, aged 32. 
 
[20l] 
 
 Brancb 1Bm\\\ of jEnglanb, •Rewcastie-upon-xcpne. 
 
 Opened April 2ist, 1828. 
 
 THE circumstances that led to the formation of Branches of the Bank of 
 England in various towns throughout the kingdom having been explained 
 in the general account of banking in the north (page pj), it is now only- 
 necessary to show how the merchants and bankers of Newcastle viewed the coming 
 event. The hostility shown throughout the provinces by the country bankers and 
 merchants, against the policy of the directors of the Bank of England in extending 
 their business beyond the limits of the metropolis, was not lacking in the north. 
 As early as 1825, it would be known that Newcastle was one of the towns named 
 as suitable for the establishment of a branch, but it was not until premises were 
 actually engaged that active steps were locally taken to prevent if possible the 
 opening of a Branch Bank in the town. The country bankers of the Newcastle 
 district had united their protest with the rest of their profession when the scheme 
 was first mooted, and now the merchants and tradesmen took up the cudgels 
 against the Bank. 
 
 Eight branches had already entered into competition with the provincial 
 bankers, namely, Gloucester, opened 19th July; Manchester, 21st September; 
 Swansea, 23rd October, 1826 ; Birmingham, ist January ; Liverpool, 2nd July ; 
 Bristol, 1 2th July; Leeds, 23rd August; Exeter, 17th December, 1827; and 
 rumour was rife that the Directors had resolved to open forty others. The matter 
 was considered by the Newcastle Chamber of Commerce (as will be seen by the 
 following extracts from their minute book), when they drew up and forwarded to 
 London a petition against the formation of a Branch Bank of England in Newcastle. 
 
 Extracts from Minute Book of the Newcastle Chamber of Commerce : — 
 
 COMMITTEE MEETING, 7th March, 1828. 
 
 Present : — 
 
 S. W. PARKER, Esq., in the Chair. 
 
 Mr. J. Lamb. Mr. T. Loggan. Mr. A, Clapham. 
 
 „ W. Armstrong. ,, R. Ormston. „ R. Belt. 
 
 „ W. Redhead. „ R. Marshall. „ T. Hedley. 
 
 ,, E. H. Campbell. 
 
 Mr. Lajuh read the Draft of a Memorial to the Directors of the Bank of England, on the subject 
 of the proposed Institution of a Branch of the Bank of England in Newcastle. 
 
 Resolved — That the memorial now read is unanimously adopted by this meeting, and that the 
 Secretary be requested to convene a special general meeting of the subscribers to the Chamber, 
 to-morrow, at 2 o'clock, for the purpose of confirming the proceedings this day. 
 
 Z 
 
[ 202 ] 
 
 SPECIAL GENERAL MEETING, 8th March, 1828. 
 
 Pbesent : 
 
 Mr. J. Lamb. 
 
 S. W. Parker. 
 W. Redhead. 
 J. CooKSON, jun. 
 
 R. HOYLE. 
 
 R. Oemston, jun. 
 M. Plummer. 
 
 Mr. R. Marshall. 
 
 ,, C. Angas. 
 
 ,, W. Armstrong. 
 
 „ G. Burnett. 
 
 ,, R. Plummer. 
 
 „ R. Todd. 
 
 ,, A. Clapham. 
 
 Mr. T. Loggan. 
 
 ,, T. Hedley. 
 
 ,, E. Walker. 
 
 ,, E. H. Campbell. 
 
 ,, T. COOKSON. 
 
 „ J. Cboser. 
 
 ,, I. Price. 
 
 A. EASTERBY, Esq., in the Chair. 
 
 The memorial to the Bank Directors being again read, it was moved by Mr. J. Lamb, and 
 unanimously carried, that the same be transmitted to M. Bell, Esq., M.P., London, to be by him 
 presented to the Directors of the Bank of England, after Mr. Cookson, the President, had added his 
 signature to it. 
 
 Mr. Lamb gave notice that at the next Committee Meeting (in April) he would bring forward a 
 motion respecting the one pound notes. 
 
 Newcastle-upon-Tyne, 8th March, 1828. 
 Matthew Bell, Esq., M.P. 
 
 Sir, — I am directed by the Chamber of Commerce to forward to you the enclosed Memorial 
 addressed to the Governor and Company of the Bank of England on the subject of the proposed 
 establishment of a Branch of the Bank of England in Newcastle, and to request that you will have 
 the goodness to transmit to them the same. 
 
 I think it right to observe, that the Memorial was unanimously agreed to in a very full Meeting 
 of the Chamber, including many Gentlemen of the greatest Commercial Weight in this town. 
 
 (Signed), P. GRIEVSON, Secretary. 
 
 To the Governor and Company of the Bank of England. 
 
 The Memorial op the Chamber op Commerce of Newcastle-upon-Tyne 
 " Most respectfully sheweth that your Memorialists are informed, that it is the intention of the 
 directors of the Bank of England to establish a Branch of that institution in Newcastle-upon-Tyne. 
 That your Memorialists are all, more or less, extensively engaged in the commerce and manufacture 
 of this town and neighbourhood, and that in the conducting of their various concerns they have 
 hitherto experienced from the Bankers here, every degree of accommodation they could reasonably 
 expect or desire. That Newcastle is the centre of a most important mining and commercial district, 
 and that the system of banking which obtains here, has become adapted to the wants, and conducive 
 to the benefit of all classes of the people. That, in proof of the soundness and ability of the existing 
 system of banking, your Memorialists have only to refer to the calamitous period of little more than 
 two years ago, in which the credit of the country was shaken in almost every direction ; it being well 
 known, that during the whole of that period of unexampled commercial distress, the resources and 
 liberality of the Newcastle Bankers served effectually to protect this part of the country from any 
 serious inconvenience. That your Memorialists, in the absence of any avowed motive for the 
 establishment of a Branch of the Bank of England, in Newcastle, see no prospect whatever of good 
 from such an establishment. 
 
 That they beg leave to assure you that no doubt is entertained of the security of the notes in 
 circulation here, and that they have not heard of any complaint of the insufficiency of banking 
 accommodation. 
 
[^03] 
 
 Your Memorialists therefore most earnestly recommend to the Directors of the Bank of England 
 to re-consider the policy of the measure they are about to adopt, and to abstain from trying an 
 experiment on a system of banking, the advantages of which are so generally felt and admitted ; an 
 experiment which, in the deliberate opinion of your Memorialists, is but too likely to be injurious 
 while it cannot possibly be beneficial to the interests of a town circumstanced as this most fortunately 
 is with respect to every commercial facility which the operation of banking is calculated to afford. 
 
 Signed on behalf of the Chamber, Newcastle, 
 March 8th, 1828. ISAAC COOKSON, President. 
 
 The Governor took twelve days to consider the short but significant answer 
 that he returned. 
 
 Bank of England, 20th March, 1828. 
 
 Sir, — I am desired by the Governor to acquaint you that the memorial which he had the honour 
 
 to receive from you, dated the 8th Inst., on the subject of the Branch of the Bank of England, proposed 
 
 to be instituted at Newcastle-upon-Tyne, has been submitted to the consideration of the Court of 
 
 Directors, and that they do not see reason to alter the intention of establishing a Branch Bank 
 
 in that town. 
 
 I have the honour to be 
 
 Your most obedient humble servant, 
 
 Matthew Bell, Esq., M.P., Northumberland. JOHN KNIGHT, Ass. Sec. 
 
 The matter was further brought before the pubhc by some strong letters that 
 appeared in the local press. They were subsequently published in pamphlet form, 
 entitled — 
 
 " The Bank of England and the Country Bankers. Three letters addressed to the editor of the Tyne 
 Mercury, under the signature of ' Alfred,' pointing out the danger to be apprehended from the 
 provincial establishment of the Bank of England, and in particular the inexpediency of the 
 establishment of a Branch of the Bank of England in Newcastle-upon-Tyne. ' It is good not to try 
 experiments in states except the necessity be urgent or the utility evident.' — Bacon. Newcastle : 
 printed by J. and J. Hodgson, Union Street, and sold by E. Charnley, Bigg Market, and Baldwin and 
 Cradock, Paternoster Row, London, 1823." 
 
 The letters are inscribed " To Isaac Cookson, Esq. (partner in Sir M. W. 
 Ridley's Bank), President of the Chamber of Commerce, Newcastle-on-Tyne. 
 The dedication concludes : — 
 
 " If the following letters, embracing a subject so important as a change of our local currency, should 
 be found in any degree to meet with your approbation I shall deem myself amply rewarded for any 
 little trouble the composition of them may have cost me." — " Alfred," April 19, 1828. 
 
 Alfred's contributions are too long to give here, but thinking that my readers 
 might like to hear of the dire calamities that he prognosticated, the letters are 
 printed in full in the appendix. At the time these epistles appeared, they 
 undoubtedly did create some alarm in the mind of the public. 
 
 Notwithstanding this local opposition, on April 2ist, 1828, a Branch of the 
 Bank of England was duly opened in Newcastle, the premises secured being the South 
 corner of the Bailiffgate. The buildings were pulled down for railway improvements 
 
[^04] 
 
 some time ago. The staff consisted of an Agent, Sub-Agent, Chief Clerk, two or 
 three juniors, and one messenger. The Agent appointed was Mr. George Carr. 
 He was not connected with the north, and had previously been a merchant in the 
 Russian trade ; he resided upon the premises in the Bailiffgate. The Sub-Agent 
 was Mr. Timothy Cutforth, a local gentleman, described in the Newcastle 
 Directory as " Ship and Insurance Broker and Agent to the London Union Fire 
 and Life Office, Fenwick's Entry, Quayside." Mr. Cutforth was a member of the 
 Society of Friends ; he then and subsequently resided at Swinburne Place. For 
 some time he was a Director of the Savings' Bank.* 
 
 The Chief Clerk, Mr. Wm. Chas. McCreight, came from the head office, but 
 had relatives in the town. The requisite amount of notes and bullion for opening 
 the Branch were brought down by coach in charge of Mr. McCreight and his 
 junior Mr. Hoddle. The Mail was very late in arriving and the custodians and 
 their treasure spent the night at the house of Mr. Robert Dees (brother-in-law of 
 Mr. McCreight), Russell Court, Westgate Road. 
 
 The practice of the Directors of selecting gentlemen who had not had banking 
 experience as Managers at all the Branches, drew forth remarks from many 
 quarters. The early pages of " The Circular to Bankers " are full of condemnation 
 of the Branch System in general and the selection of the Agents in particular. 
 
 The question of the conducting of the business at the Branches was made the 
 subject of discussion at each half-yearly meeting of the proprietors. 
 
 The publication just referred to states : — 
 
 " How remarkable it is that information respecting the proceedings of the Bank Managers is never 
 submitted to the Meetings of Proprietors ! Neither the gross amount of the sum discounted at the 
 Branch Banks, nor the proportion of substantial or undoubted bills, and of fictitious or accommodation 
 bills, is known. Yet upon this depends the success or the failure of a Branch Bank establishment. 
 We believe that the Directors, in the appointment of the Managers of the Branch Banks, were entirely 
 uninfluenced by any jobbing motives in regard to their selection. But it is obvious that they are wholly 
 unfitted for being entrusted with a matter of so much delicacy and importance as the deciding upon 
 the credit of individuals and the regulating the amount of that credit, which shall at any time be 
 exchanged for the notes or the gold of the Bank of England. 
 
 The crudeness which marked its conception (the Branch Bank system) and the absurdity of its 
 arrangement and management, are in perfect parallel." 
 
 The business of the Branch at the commencement w^as very small. It was not 
 to be expected that an establishment opened against the expressed wish of the 
 merchants, with an agent a stranger to the town and to banking business, should 
 
 * We may presume that the family had been many years resident in the town, as the Netvcastle Journal of 
 December 19th, 1778, announces:—" On Thursday at the Quaker's Meeting in this town Mr. Joseph Storey to Miss 
 Eliza Cutforth, Newgate Street, a young lady endowed with every qualification requisite to make the marriage 
 state superlatively happy." 
 
[^05] 
 
 prove a very formidable rival to the existing banks, which then Avere Sir. M. W. 
 Ridley & Co. ; Lambton & Co. ; Backhouse & Co. ; and Chapman & Co. There 
 are no data to show how these firms were affected ; but idle rumour, and 
 possibly the letters of "Alfred" previously referred to, did materially affect the 
 business of the Newcastle Savings' Bank, as will be seen in the account of that 
 establishment. 
 
 One primary^ object in forming the branch banks was a desire to substitute the 
 paper currency of the Bank of England for that of the country bankers, and 
 on this account a considerable stock of notes and bullion had to be kept at the 
 Branch, thus placing great responsibility upon the Agent. Lawson says : — 
 
 "The agent of the bank represents the authority of the Bank of England at the Branches; he is 
 responsible in a bond of £20,000 for his proper conduct, and also for using a due discretion and 
 diligence in the administration of the affairs of the branch." 
 
 The branch had been established a little over a year when Mr. Cutforth fell 
 into ill-health, and in March, 1829, went for a visit to the South of France. He 
 returned to business for a short time, but died in August of the same year. His 
 post was filled by Mr. H. J. Dorrien ;* he resided at Gateshead, and became a 
 member of the Northern Counties' Club. 
 
 Soon after the establishment of the Branch, the Act of Parliament came into 
 operation that compelled the withdrawal from circulation of all bank notes under 
 the value of ^5. In conjunction with many others, the Chamber of Commerce in 
 Newcastle sent a petition to the Commons praying for the repeal of the said Act 
 (see page g8). It however, was unavailing, and upon the 5th of April, 1829, the 
 Act came into operation. This step necessitated the substitution of a large amount 
 of gold coin, which was paid to the local bankers through the Branch Banks. 
 Terms were arranged upon which the country bankers could open discount 
 accounts with the Bank of England. For gold required, one week's notice had to 
 be given, and if notice were given, it must be removed upon the day named. 
 
 " The mode adopted in fixing the amount which the Bank of England undertook to advance to any 
 bank applying for discount was, in the case of a previous circulation by such bank, to show the amount 
 of its notes ; and if it could prove, to the satisfaction of the Bank of England, that it was able to keep 
 out a circulation of £60,000 or £100,000, that amount of discount was afforded, but when there was no 
 previous circulation, they found it difficult to fix an amount and therefore gave an open account for 
 the year, to try what amount would be permanently required." 
 
 Most of the North-country bankers soon opened accounts at the Branch Bank, 
 and must have found much' convenience and safety in the depot for gold thus 
 opened in the North. By judiciously holding a stock of Branch Bank notes they 
 could ensure their conversion into gold in as many hours as it would previously 
 
 ♦ Probably a relative of the London Bankers, Dorriens, Mello, & Co., who in 1842 amalgamated with 
 Curries it Co. of Cornhill. 
 
[206] 
 
 have taken days to send to London for the precious metal. The Bankers 
 Magazine for 1845, gives the following : — 
 
 " The chief part of the business of the Branch Bank of England is understood to be derived from 
 discounting the Bills of, and supplying the notes to, the other banks. In 1828, the amount of notes 
 issued by the Branch Bank of England at Newcastle was only £8,000. In 1837 it had increased to 
 £245,000 ; but, by the latter period, accounts for circulation had been opened with the Northumberland 
 and Durham District Bank, and the Bank of Head & Co., of Carlisle. A similar account was opened 
 with the Sunderland Joint Stock Bank, in May, 1838. In 1839, the amount of notes in circulation 
 had increased to £341,000 ; and the total amount of credit allowed to the three banks above mentioned 
 was £315,000. Since that period, the Bank of England has opened accounts with all the banks in 
 Newcastle, as already mentioned, except one ; and, excluding the Bank of Head & Co., of Carlisle, and 
 the Sunderland Joint Stock Bank, the circulation of Northumberland may be taken, as above stated, 
 at about £400,000. 
 
 The aggregate capital of the Newcastle Banks seems inadequate to the business they transact, 
 and to the demands of trade. They have all, with one exception, discount accounts with the Bank of 
 England ; and, although it is understood that the Bank has always acted with much liberality in the 
 discount of their paper, the supplies obtained in this manner do not appear sufficient for the wants of 
 that district. They are in the habit of drawing large supplies from other quarters, — of re-discounting, 
 both with the Bank of England and with other banks, to a heavy amount. Their bills are to be met 
 with, not only among the London brokers, but in the banks of Cumberland, Westmoreland, Lancashire, 
 Norfolk, and other monied counties ; and also in different parts of Scotland. It is, of course, well 
 known that the same practice is followed by banks situated in other commercial towns, where the 
 demands of trade require more capital than the locality can of itself furnish." 
 
 Another source of business for the Branch was the collection of money from 
 the various Receivers of Inland Revenue, a clerk from the Bank attending at all 
 the towns where the receipts were held in Northumberland, Durham, North 
 Yorkshire, and parts of Cumberland and Westmoreland. Country bank notes 
 payable in the town of receipt were taken by the Collectors, but they were not 
 otherwise accepted unless a country banker placed to his credit with the Branch 
 Bank of England a sum agreed upon to meet the encashment of such notes. 
 When the Branches were first opened, country bank notes were rigorously refused 
 for all payments across the counter, but the action of Mr. Wood the well-known 
 Gloucester banker, led to this rule being somewhat relaxed. One writer says : — 
 
 " But we know that the Managers do not in all cases, conform to the rules laid down by their 
 superiors, but exercise a discretion in deviating from them. At Gloucester, for example, the notes of 
 some country bankers who have opened no accounts, and made no deposits are refused to be taken at 
 the Branch Banks ; while others, who have likewise neither opened an account nor made a deposit, 
 are taken. The Notes of Mr. James Wood a banker in Gloucester, were, at first refused ; but, 
 after he had remonstrated, in his peculiar manner, they were taken. ' What ! I refuse the notes of 
 one of your Masters ? ! ! Who, I should like to know, holds more Bank Stock than I do ? 1! ' Since 
 this remonstrance, Mr, Wood says his notes have never been refused." 
 
 In the early days of the Branch, a journey to London was no trifling matter, 
 either as regarded time or safety. There was little to choose between the perils 
 by land or by water. Mr. Carr, the Agent, visited London in June, 1831, and 
 proposed to return home by water. On the 25th, he wrote to a member of his 
 
[^07] 
 
 family " I embrace this opportunity to inform you that I shall embark on board 
 the steamer on Tuesday evening, and hope to be with you on Friday next." Mr. 
 Carr did not reach his destination as expected, and no tidings could be ascertained 
 of the vessel. Nine days afterwards enquiry was made at the Steam Packet Office 
 in London, where the welcome news was received that the vessel had been 
 detained in the Yarmouth Roads, but that all was well. A day or two afterwards 
 Mr. Carr reached Newcastle. 
 
 Death made many inroads amongst the original staff of the Branch. Mr. 
 McCreight the Chief Clerk, resided in the then pleasant and rural district 
 surrounding Summer Hill Grove. He was very fond of his garden, and a great 
 cultivator of bees. In the summer of 1832 he was removing a hive when he 
 accidentally fell and upset the load he was carrying ; the bees immediately set 
 upon him and stung him so terribly that fever supervened, to which Mr. McCreight 
 succumbed in a few days. He died on July loth. For many years the Directors 
 of the Bank of England with their accustomed liberality made an allowance to the 
 " orphans of the late W. C. McCreight," through their relative, Mr. Robert Dees. 
 The eldest son of Mr. McCreight entered the North of England Joint Stock Bank, 
 and subsequently became an accountant, first in Newcastle and then in London.* 
 Mr. Hines, from the head office, was appointed Chief Clerk at the Branch upon 
 the death of Mr. McCreight. 
 
 In August, 1834, Mr. H. J. Dorrien, the Sub-Agent, became Agent of the 
 Swansea Branch ; he subsequently removed to Portsmouth, and died there loth 
 September, 1868. Mr. Joseph Grote, a retired Naval Officer, was appointed 
 Sub- Agent at Newcastle. 
 
 Two years after this Mr. Carr fell into ill-health and died ; his death being 
 thus announced : — "At Cronstadt, December 6th, 1836, George Carr, Esq., late 
 Director of the Branch Bank of England, Newcastle, Aged j"]!' Mr. Carr was 
 much respected by all who knew him. His son, George Carr, jun., solicitor, 
 resided for many years in Northumberland Street, opposite the end of Bath Road, 
 and was appointed a Director of the Newcastle Savings' Bank, March 24th, 1842. 
 The Sub- Agent, Mr. Joseph Grote, was promoted to the Agency, Mr. Robert 
 Anderson being appointed Sub-Agent. I am informed that after completing his 
 education under the care of a private tutor, at the age of seventeen Robert 
 
 * The Birmingham Post made an announcement which it deems " will prove not a little startling both to 
 the shareholders of the late Birmingham Bank and to the public. Mr. McCreight, the former oflScial liquidator 
 has just sent in his bill to the committee who are now entrusted with the task of gratuitously winding up the 
 affairs of this unfortunate concern. Mr. McCreight's services began in October, 1866, and ended in May or June, 
 1869, a period of about two years and a half. For the work done in liquidation during this term, Mr. McCreight 
 charges, we understand, the enormous amount of between £27,000 and £28,000." The announcement certainly 
 was "startling," but the charges were probably capable of explanation. 
 
[208] 
 
 Anderson entered the maritime service of the Honourable East India Company, 
 which was dissolved about 1834. Through his guardian, Mr. J. Palmer, he received 
 the appointment in the Bank of England. The chief clerk, Mr. Hines, had been 
 at sea for some time prior to his entering the Bank, the Branch therefore was in 
 the hands of three retired "salts," and so continued for many years. 
 
 Mr. Grote resided at the premises in the Bailiffgate, Mr. Anderson living at 
 Leazes Terrace. The neighbourhood of the Bailiffgate was not a choice situation 
 when the Branch was opened in 1828, and it had rapidly decayed. Complaints 
 were early made to head-quarters of the "damp which spoiled the notes," and of 
 the annoyance the Agent was put to by " the dead cats and other rubbish thrown 
 over the wall." The children, as in all poor locahties, had then only the streets 
 to play in. The noise they made was so irritating to the managers after the 
 quietude of the sea, that for " a shilling a week an old woman was employed to 
 drive the children from the door-step." Such was the state of things in 1837, 
 when Grainger was erecting the magnificent block of buildings that formed the 
 new Grey Street, and hither the Branch was removed in 1838. The premises 
 taken comprised the four northern windows upon the ground-floor of the present 
 bank, which, it will be noted in the illustration produced, are upon a different 
 level from the southern windows. 
 
 During the sojourn of the Branch in the Bailiffgate, the business had 
 considerably increased and the staff had grown in a corresponding manner. The 
 trade of the town had extended by leaps and bounds, and the character of the 
 private banks had materially altered. The system of banking on the joint stock 
 principle had been introduced into the North, and several establishments opened. 
 The North of England Joint Stock Bank, the Northumberland and Durham 
 District Bank, and the Union Bank, all issued their own notes, while Messrs. 
 Lambton & Co., the Commercial Bank, the Newcastle Joint Stock Bank, and the 
 Sunderland Joint Stock Bank, compounded with the Bank of England and used 
 their notes only. For this purpose special notes were printed, being in all respects 
 like an ordinary branch note with the addition of a star on the dexter and sinister 
 sides. A letter by way of sign was allotted to each bank with which the notes 
 that they drew from the Bank of England were marked. When in the course of 
 business these notes found their way back to the branch, they were sorted into 
 their various letters, and as required were repaid to the bank that had originally 
 drawn them, the issuing banker being paid commission upon the amount of notes 
 he could keep in circulation. 
 
 A few years afterwards the issue of notes for ^30, £^0, and ;^5oo was 
 abohshed. 
 
[209] 
 
 In August, 1 84 1, the Bank of England purchased the southern part of their 
 present premises (then recently vacated by the District Bank). Material alterations 
 were made, and the entire building adapted for one bank, the Agent residing over 
 
 Branch Bank of England, Grey Street, Newcastle-upon-Tyne. 
 
 the northern half, and the Sub-Agent over the southern. A dining-room for the 
 Agent was constructed upon the ground floor in the north-west portion of the 
 original bank ; at a later date, this room was thrown into the general office. 
 
 In 1847 the great commercial panic that swept over the country visited 
 Newcastle. Many mercantile houses failed. The North of England Joint Stock 
 Bank went down. Mr. Mewbum of Darlington writes in his diary : — 
 
 •' At one period of the panic Mr. Pease had bills drawn upon and accepted by Barings, and other bills 
 of the Victualling Office, all endorsed by Overend, Gumey, & Co., and having only five days to run. 
 Not one of them could he get discounted at any rate. 
 
[210] 
 
 When the panic reached Newcastle, Jonathan Richardson, the great stay of the Newcastle 
 District Bank, went to London and applied to the Bank of England and the Chancellor of the 
 Exchequer for assistance, which was refused. He returned home and found the panic extending so far 
 and wide, as to induce him to lay the facts and circumstances before Mr. Grote, the Manager of the 
 Bank of England, whom he told that if assistance were not given to the bankers in the town 
 (Chapman's having then gone) of whose solvency there was no doubt, every bank in the North must 
 stop payment. And what would be the consequences ? A revolution or alarming food riots. Mr. 
 Grote on his own responsibility afforded accommodation to the banks and saved the North from a 
 convulsion. All honour to Mr. Grote ! " 
 
 Mr. Grote is spoken of by all who remember him as reserved, but a shrewd, 
 capable man. A story told of him, which probably occurred during the panic, is 
 worth recording. Whilst the run was proceeding, he called at the District Bank 
 parlour about two o'clock to see how matters were progressing. A clamorous 
 crowd besieged the counter, wanting gold in exchange for notes and for deposit 
 withdrawals. The manager informed Mr. Grote that they were getting on pretty 
 well, and although the run had been sharp, they would pull through for that day 
 at any rate, as they had only another hour to go until 3 o'clock— closing time. 
 Mr. Grote replied, "If you take my advice, you will not close at 3 o'clock. I 
 should say, keep your doors open as long as ever there are any applicants, to any 
 reasonable time at night." Fortunately the advice was taken ; such a bold front 
 soon begat confidence, and the run was stayed. Tradition says that the 
 independent action of Mr. Grote did not give satisfaction at the head office, and 
 that the friction which followed led to Mr. Grote (who was quite independent of 
 the bank) resigning his appointment. 
 
 He severed his connection with the establishment in July, 1849, and a few 
 years afterwards became a partner in Messrs. Prescott, Grote, & Co., the well- 
 known London bankers, subsequently becoming senior partner. He died 
 November 14th, 1876, in his 76th year, at his residence, Wexham Park, Slough, 
 having retired from business a short time previously. 
 
 Mr. Anderson was promoted to the vacant Agency, Mr. D. H. Goddard 
 coming as Sub-Agent, a position he had held at the Gloucester Branch, which had 
 been recently closed. Mr. Goddard had been a clerk in the establishment ; his 
 appointment was therefore a deviation from the rule, which was then, as now — 
 that no clerk should be promoted to the Agency or Sub-Agency ; which rule is 
 almost as unalterable as those attributed to the Medes and Persians. 
 
 Another bank panic occurred in 1857, when the unfortunate Northumberland 
 and Durham District Bank closed their doors. They were by far the largest bank in 
 the North of England. The Agent to the Branch had discounted their paper to a 
 very large amount, and every effort had been made to enable them to continue 
 
[2^ 
 
 their business. A director of the Bank of England (Mr. Kirkman Hodgson), 
 personally attended and watched the course of events, but it was found that the 
 District Bank was so hopelessly involved, that the time must come when the daily 
 batch of bills brought in by the official for discount must be declined. Mr. 
 Anderson was a kind and sympathetic man who did not like to say "No" to any 
 request. It was therefore arranged that when their next bills were presented, the 
 Agent should call in the Chief Clerk, Mr. Hines, and ask in a consulting manner, 
 what there was under discount for the " District," and if more could be done, and 
 that Mr. Hines was to give a very emphatic answer in the negative. The bank 
 official arrived with the bills — Mr. Hines was called in — the question was put — 
 "Can we take any more for the District, Mr. Hines" ? and the answer came 
 "As far as regards that 'ere" (his common manner of prefacing a sentence), " Mr. 
 
 Anderson, I'm d d if we can " ! The old sailor's answer was rather more 
 
 emphatic than the Agent anticipated, but no more bills were taken, and that 
 terrible calamity, the suspension of the District Bank, followed. 
 
 The stoppage of the "District" caused a rush of accounts to the Bank of 
 England. Merchants and manufacturers had their available capital locked up. 
 Wages must be provided for, and all who had reasonable security to offer were 
 accommodated. In a few days, more accounts were opened at the Branch than 
 during many previous years. The staff was sorely pressed by the sudden extra 
 work ; for some months it was often midnight before each day's work was closed. 
 
 On September 28th, 1859, a curious case was heard in the Newcastle County 
 Court — "Co well v. the Governor of the Bank of England." It arose out of the 
 circumstance of a married woman having been allowed to draw money deposited 
 by her husband. 
 
 Mr. Anderson retained the Agency until his death, which occurred on April 
 6th, 1868. His loss was sincerely mourned by all who knew him ; he was 
 universally beloved, a man of high principle, rigidly attentive to the interests of 
 the establishment, yet kind and genial to all under his authority. At the time of 
 his death Mr. Anderson was a governor of the Newcastle Infirmary, and the 
 treasurer of many charitable institutions. The Sub-Agent, Mr. Goddard, was 
 appointed Agent, and Mr. F. B. Fairley, who was second in charge at the 
 Leicester Branch (which closed 29th February, 1872), was transferred to 
 Newcastle. 
 
 Mr. Fairley was no stranger to banking, having served his apprenticeship with 
 the Royal Bank of Scotland. At the age of twenty-three he obtained an appoint- 
 
[212] 
 
 ment in the Oriental Banking Corporation, which at that time was looked upon as 
 the Bank of England of the East. He proceeded to China to join the Hong Kong 
 Branch, but on the way out was intercepted at Singapore, where his services were 
 required for three months. At the expiration of that time he completed his 
 voyage, and acted as Sub-Accountant in the Hong Kong establishment of the 
 Company. Mr. Fairley was in China during the War of i860, and had a most 
 varied and interesting career, coming in contact with many notable people and 
 going through some strange experiences. After travelling for four years between 
 the different Treaty Ports in China, he accepted the management of the Bank of 
 India at Shanghai, which position he held until he returned to England in 1866, 
 and shortly afterwards was offered by Mr. Robert Wigram Crawford, M.P. for the 
 City of London, the Sub-Agency of the Leicester Branch of the Bank of England. 
 
 In 1872 a " Clearing House " was re-established amongst the Newcastle 
 bankers, the Agent of the branch being appointed Chairman of the Association, and 
 a room at the bank set apart for representatives of the various bankers to meet in. 
 
 Mr. Goddard resigned his post as Agent in 1875, and retired into private hfe at 
 Chester-le-Street, where for some years he had principally resided on account of 
 the failing health of Mrs. Goddard. On August 4th, 1875, the bankers of the 
 town made him a very handsome present of silver plate. Mr. Fenwick 
 (Lambton & Co.) warmly congratulated Mr. Goddard on the pleasant relations 
 that had existed amongst the bankers during the 25 years that he had been Agent. 
 The inscription upon the plate was as follows : — • 
 
 " Presented to Daniel Haill Goddard, Esq., late Agent of the Bank of England at Newcastle-on-Tyne, 
 by the bankers of this town, in remembrance of business relations agreeably existing between them for 
 a period of upwards of twenty-five years, and for his establishing of the Bankers' clearing house. — 
 July, 1875." 
 
 Mr. Goddard was appointed J.P. for the County of Durham, and did good 
 service in that capacity, and also to many of the charitable institutions of the 
 district. His death occurred on March nth, 1883, he then being in the 74th year 
 of his age. 
 
 Upon Mr. Goddard's retirement from the Bank in 1875, Mr. Fairley was 
 promoted to the Agency, Mr. R. F. Hadow being appointed Sub-Agent, which 
 position he held for five years and then removed to the Manchester Branch, the 
 vacancy at Newcastle being filled by Mr. S. M. Gregson, who retained the 
 Sub-Agency until July, 1886, when he was appointed to a similar post at the Hull 
 Branch, but owing to ill-health he never entered on the duties, and soon after 
 retired from the service. 
 
[213] 
 
 Mr. William Berkeley Molyneux, the Sub-Agent at Plymouth, was transferred 
 to Newcastle. Mr. Molyneux served his apprenticeship with Messrs. Baring Bros, 
 of Liverpool. He subsequently entered the banking house of Messrs. Clements, 
 Royds, & Co. of Rochdale. He remained at Newcastle until July, 1887, when he 
 proceeded to the Birmingham Branch of the Bank of England, Mr. Henrys Adeane 
 Erskine taking the post at Newcastle. Mr. Erskine gained his experience in the 
 Agra Bank, having been Manager at Lahore, and subsequently Sub-Manager at 
 the Calcutta establishment of the bank named. 
 
 In June, 189 1, Mr. F. B. Fairley, who had been Agent since 1875, was 
 transferred to the Law Courts Branch. During his sojourn in Newcastle the 
 business of the branch much increased. In 1882 he promoted the extension of 
 the Newcastle Clearing to " Country Clearing," by which all the banks from York 
 to Berwick were included in the Association. On Saturday, the 7th March, 1874, 
 the Newcastle Banks commenced to close at one o'clock. This boon was in a 
 great measure due to Mr. Fairley's efforts. Mr. Colin George Ross, Sub-Agent 
 at the Manchester Branch, was appointed to the Newcastle Agency. He was the 
 son of Horatio Ross of Rossie Castle, N.B., one of the original directors of the 
 National Provincial Bank of England. In the following month Mr. Erskine 
 removed to Manchester, his position at Newcastle being taken by Mr. Ernest 
 Edye, who entered upon his appointment 21st August, 1891. Mr. Edye had 
 considerable banking experience. About 1871 he became attached to the West of 
 England Bank, Plymouth, moving about from branch to branch until 1874, when 
 he accepted an appointment in the Oriental Banking Corporation. In April, 1876, 
 he changed to the Standard Bank of South Africa, and proceeded to the Cape with 
 the intention of undertaking the duties of Assistant Inspector, but he was retained 
 at Cape Town as second in command. In 1880 Mr. Edye was appointed 
 manager of one of the Eastern branches, retaining that post for three years, when 
 he visited England to recruit his health after malarial fever. Being offered an 
 appointment in the home country, he resigned his position in the South African 
 Bank, and became, in 1884, Deputy-Inspector of the London and Brazilian Bank, 
 and the following year was appointed Inspector ; subsequently he held the position 
 of Secretary and Superintendent of Branches. In 1891, with the deepest regret, 
 he resigned his position in the London and Brazilian Bank, and took up his 
 appointment at Newcastle. In December, 1893, changes again occurred in the 
 management of the branch, Mr. Edye being promoted to the Agency of the 
 Leeds establishment of the Bank of England, which post he retained only a few 
 months, and was then appointed to the responsible position of Chief Auditor of 
 the Bank of England. Mr. F. W. Peel succeeded to the vacant Sub-Agency at 
 Newcastle. 
 
[214] 
 
 I give the following particulars regarding the Branch Banks from " a Digest 
 of the Evidence of the Bank Charter taken before the Committee of 1832." 
 
 An Account of the Average Circulation of Branch Bank Notes and 
 Twenty-one Day Bills, during the Years 1828, 1829, 1830, and 
 1831 ; distinguishing the Amount from each Branch Bank. 
 
 
 1828. 
 
 1829. 
 
 1830. 
 
 1831. 
 
 
 & 
 
 £ 
 
 £ 
 
 £ 
 
 Gloucester 
 
 41,000 
 
 48,000 
 
 49,000 
 
 49,000 
 
 Manchester 
 
 258,000 
 
 411,000 
 
 904,000 
 
 1,197,000 
 
 Swansea 
 
 60,000 
 
 50,000 
 
 47,000 
 
 40,000 
 
 Birmingham 
 
 133,000 
 
 178,000 
 
 268,000 
 
 357,000 
 
 Liverpool 
 
 64,000 
 
 109,000 
 
 212,000 
 
 305,000 
 
 Bristol 
 
 24,000 
 
 59,000 
 
 85,000 
 
 110,000 
 
 Leeds 
 
 16,000 
 
 54,000 
 
 106,000 
 
 157,000 
 
 Exeter 
 
 10,000 
 
 18,000 
 
 23,000 
 
 27,000 
 
 Newcastle 
 
 8,000 
 
 23,000 
 
 35,C00 
 
 37,000 
 
 Hull 
 
 
 29,000 
 
 64,000 
 
 53,000 
 
 Norwich 
 
 •• 
 
 •• 
 
 25,000 
 
 40,000 
 
 
 £614,000 
 
 £979,000 
 
 £1,818,000 
 
 £2,372,000 
 
 An Account of tlie Amount of Bank Notes which have been paid into 
 the Bank in London, during the Years 1828, 1829, 1830, and 
 1831, and issued at the Branch Banks. 
 
 
 1828. 
 
 1829. 
 
 1830. 
 
 1831. 
 
 
 £ 
 
 £ 
 
 £ 
 
 £ 
 
 Gloucester 
 
 107,000 
 
 163,000 
 
 232,000 
 
 206,000 
 
 Manchester 
 
 771,000 
 
 2,113,000 
 
 4,383,000 
 
 5,380,000 
 
 Swansea 
 
 152,000 
 
 187,000 
 
 150,000 
 
 137,000 
 
 Birmingham 
 
 401,000 
 
 628,000 
 
 747,000 
 
 798,000 
 
 Liverpool 
 
 46,000 
 
 120,000 
 
 697,000 
 
 837,000 
 
 Bristol 
 
 90,000 
 
 198,000 
 
 360,000 
 
 408,000 
 
 Leeds 
 
 38,000 
 
 163,000 
 
 214,000 
 
 338,000 
 
 Exeter 
 
 40,000 
 
 107,000 
 
 137,000 
 
 116,000 
 
 Newcastle 
 
 22,000 
 
 281,000 
 
 492,000 
 
 416,000 
 
 Hull 
 
 , , 
 
 80,000 
 
 95,000 
 
 52,000 
 
 Norwich 
 
 •• 
 
 1,000 
 
 278,000 
 
 366,000 
 
 
 £1,667,000 
 
 £4,041,000 
 
 £7,785,000 
 
 £9,054,000 
 
 Note. — The Country Bankers, who have Accounts at the Branch 
 Banks, receive free of all charge, except postage, the Amounts 
 paid in for the credit of their accounts by their London or 
 Country Correspondents. 
 
[215] 
 
 An Account of the Amount of Bank Notes paid 
 in at the Branch Banks, chiefly by Country 
 Bankers, for the credit of the London Bankers, 
 and issued to them in London. 
 
 In 1828 £1,250,000 
 
 1829 3,430,000 
 
 1830 4,447,000 
 
 1831 6,142,000 
 
 Note. — The London Bankers receive, free of all 
 charge, except postage, the Amounts paid in for 
 their credit by their Country Correspondents. 
 
 An Account of the Average Proportion of Coin to 
 the Liabilities retained at the Branch Banks, 
 during the years 1828, 1829, 1830, and 1831. 
 
 In 1828 Nearly one-half. 
 
 1829 Ditto. ditto. 
 
 1830 .. .. .. Above one-third. 
 
 1831 One-third. 
 
 An Account of tlie Amount of Coin which has 
 been transmitted to tJie Branch Banks, during 
 the years 1828, 1829, 1830, and 1831. 
 
 
 Gold Coin. 
 
 Silver Coin. 
 
 
 Guineas. 
 
 Half Sovereigns. 
 
 
 £ 
 
 £ 
 
 
 £ 
 
 £ 
 
 In 1828 
 
 1,194,000 
 
 21,000 
 
 In 1828 
 
 38,717 
 
 — 
 
 1829 
 
 1,593,000 
 
 53,0(0 
 
 1829 
 
 61,561 
 
 — 
 
 1830 
 
 1,218,0C0 
 
 83,000 
 
 1830 
 
 64,473 
 
 126,500 
 
 1831 
 
 J, 039,200 
 
 157,000 
 
 1831 
 
 46,966 
 
 66,500 
 
 An Account of the Ammmt of Coin transmitted 
 from the Branch Banks to London, during the 
 years 1828, 1829, 1830, and 1831. 
 
 An Account of the Average Amount of Bills under Discount at each 
 of the Branch Banks, during the years 1828, 1829, 1830, and 1831. 
 
 
 1828. 
 
 1829. 
 
 1830. 
 
 1831. 
 
 
 £ 
 
 £ 
 
 £ 
 
 £ 
 
 Gloucester 
 
 18,000 
 
 58,000 
 
 66,000 
 
 79,000 
 
 Manchester 
 
 105,000 
 
 144,000 
 
 75,000 
 
 194,000 
 
 Swansea 
 
 33,000 
 
 55,000 
 
 55,000 
 
 84,000 
 
 Birmingham 
 
 98,000 
 
 295,000 
 
 277,000 
 
 590,000 
 
 Liverpool 
 
 9,000 
 
 46,000 
 
 63,000 
 
 336,000 
 
 Bristol 
 
 8,000 
 
 47,000 
 
 41,000 
 
 102,000 
 
 Leeds 
 
 10,000 
 
 53,000 
 
 48,000 
 
 128,000 
 
 Exeter 
 
 
 6,000 
 
 2,000 
 
 18,000 
 
 Newcastle 
 
 .. 
 
 19,000 
 
 19,000 
 
 38,000 
 
 Hull 
 
 , . 
 
 30,000 
 
 24,000 
 
 62,000 
 
 Norwich 
 
 •• 
 
 1,000 
 
 32,000 
 
 87,000 
 
 
 £281,000 
 
 £754,000 
 
 £702,000 
 
 £1,718,000 
 
An Account of 
 during the 
 
 [2l6] 
 
 the Loss sustained on Discounted Bills unpaid at each of the Branch Banks 
 years 1828, 1829, 1830, and 1831. 
 
 Names of 
 
 Bills 
 
 
 Amount 
 
 Amount 
 
 
 
 Total loss at 
 
 Branches, 
 
 returned. 
 
 
 received. 
 
 likely to be 
 
 Total loss. 
 
 each Branch. 
 
 and Years. 
 
 
 
 
 received. 
 
 
 
 
 Birmingham. 
 
 £ s. 
 
 d. 
 
 £ s. d. 
 
 £ S. 
 
 d. 
 
 £ s. d. 
 
 £ s. d. 
 
 1828. 
 
 596 10 
 
 6 
 
 165 11 9 
 
 70 
 
 
 
 160 18 9 
 
 
 1829. 
 
 1,235 4 
 
 6 
 
 598 1 4 
 
 
 
 637 3 2 
 
 
 1830. 
 
 654 
 
 
 
 
 130 
 
 
 
 524 
 
 
 1831. 
 
 7,730 
 
 7 
 
 991 
 
 1,400 
 
 
 
 5,839 7 
 
 6,661 2 6 
 
 Hull. 
 
 
 
 
 
 
 
 
 1829. 
 
 481 14 
 
 
 
 278 19 2 
 
 50 
 
 
 
 152 14 10 
 
 
 1831. 
 
 
 
 , , 
 
 
 
 98 10 
 
 251 4 10 
 
 Bristol. 
 
 
 
 
 
 
 
 
 1829. 
 
 10,082 7 
 
 5 
 
 3,267 7 10 
 
 800 
 
 
 
 6,014 19 7 
 
 
 1831. 
 
 8,623 4 
 
 8 
 
 2,692 4 10 
 
 2,150 
 
 
 
 3,780 19 10 
 
 9,795 19 5 
 
 Leeds. 
 
 
 
 
 
 
 
 
 1829. 
 
 490 
 
 
 
 25 2 3 
 
 
 
 464 17 9 
 
 464 17 9 
 
 Swansea. 
 
 
 
 
 
 
 
 
 1829. 
 
 8,376 6 
 
 10 
 
 5,889 11 7 
 
 2,486 15 
 
 3 
 
 
 
 Newcastle. 
 
 
 
 
 
 
 
 
 1830. 
 
 3,849 18 
 
 11 
 
 3,500 9 9 
 
 349 9 
 
 2 
 
 
 
 Liverpool. 
 
 
 
 
 
 
 
 
 1830. 
 
 160 
 
 
 
 17 10 
 
 , , 
 
 
 159 2 2 
 
 159 2 2 
 
 Manchester. 
 
 
 
 
 
 
 
 
 1831. 
 
 500 
 
 
 
 5 8 6 
 
 150 
 
 
 
 344 11 6 
 
 344 11 6 
 
 Norwich. 
 
 
 
 
 
 
 
 
 1831. 
 
 39,015 14 
 
 7 
 
 3,959 19 1 
 
 3,000 
 
 
 
 32,055 15 6 
 
 32,055 15 6 
 
 Gloucester. 
 
 Nil. 
 
 
 ^ , 
 
 
 
 , , 
 
 
 Exeter. 
 
 Nil. 
 
 
 
 
 
 
 
 
 49,732 13 8 
 
 An Account of the Amount received at each of the Branch Banks for 
 Interest on Bills discounted during the Years 1828, 1829, 1830, and 
 1831. 
 
 
 1828. 
 
 1829. 
 
 1830. 
 
 1831. 
 
 
 £ s. d. 
 
 £ s. 
 
 d. 
 
 £ s. d. 
 
 £ s. d. 
 
 Gloucester 
 
 844 14 3 
 
 2,462 6 
 
 5 
 
 2,408 1 10 
 
 2,989 19 4 
 
 Manchester . . 
 
 3,968 2 11 
 
 5,154 3 
 
 6 
 
 2,780 12 7 
 
 7,127 17 11 
 
 Swansea 
 
 1,351 8 6 
 
 2,041 10 
 
 1 
 
 2,224 3 10 
 
 3,034 2 10 
 
 Birmingham . . 
 
 4,343 17 5 
 
 11,688 12 
 
 2 
 
 10,811 18 
 
 21,387 3 8 
 
 Liverpool 
 
 351 19 6 
 
 1,758 13 
 
 
 
 2,880 2 9 
 
 11,702 1 4 
 
 Bristol 
 
 488 4 4 
 
 1,779 11 
 
 8 
 
 1,888 9 
 
 8,759 17 9 
 
 Leeds .. 
 
 5il 9 3 
 
 1,941 16 
 
 4 
 
 1,845 8 6 
 
 5,114 15 5 
 
 Exeter 
 
 , , 
 
 194 5 
 
 3 
 
 85 1 
 
 653 11 
 
 Newcastle 
 
 , , 
 
 726 5 
 
 5 
 
 710 7 11 
 
 1,766 10 9 
 
 Hull .. 
 
 
 1,252 18 
 
 
 
 1,006 4 11 
 
 2,382 4 
 
 Norwich 
 
 •• 
 
 8 4 
 
 9 
 
 1,628 1 2 
 
 3,211 5 2 
 
 
 £11,889 16 2 
 
 £29,008 6 
 
 7 
 
 £28,117 18 3 
 
 £63,129 5 6 
 
 Total 
 
 £132,145 6 6 
 
[^^7] 
 
 An Account of the total Expenses of the Branch Banks during 
 the years 1828, 1829, 1S30, 1831, and 1832. 
 
 In 1828 
 1829 
 1830 
 1831 
 1832 
 
 & s. 
 27,082 5 
 32,639 17 
 36,421 11 
 37,725 17 
 34,210 
 
 d. 
 5 
 5 
 9 
 
 8 
 
 
 £168,079 12 
 
 3 
 
 An Account of Commission received at each of the Branch Banks during 
 the Years 1828, 1829, 1830, and 1831. 
 
 
 1828. 
 
 1829. 
 
 1830. 
 
 1831. 
 
 
 € s. 
 
 d. 
 
 £ s. 
 
 d. 
 
 £ s. 
 
 d. 
 
 £ s. d. 
 
 Gloucester . . 
 
 183 2 
 
 6 
 
 215 2 
 
 1 
 
 230 9 
 
 7 
 
 306 5 1 
 
 Manchester .. 
 
 110 7 
 
 6 
 
 181 10 
 
 8 
 
 248 5 
 
 9 
 
 464 13 7 
 
 Swansea 
 
 158 12 
 
 7 
 
 175 14 
 
 
 
 148 14 
 
 8 
 
 271 3 10 
 
 Birmingham . . 
 
 492 8 
 
 3 
 
 972 18 
 
 8 
 
 911 6 
 
 2 
 
 871 15 5 
 
 Liverpool 
 
 165 15 
 
 1 
 
 298 15 
 
 5 
 
 324 12 
 
 10 
 
 1,510 13 2 
 
 Bristol 
 
 227 19 
 
 7 
 
 240 18 
 
 
 
 367 9 
 
 5 
 
 801 19 1 
 
 Leeds • . 
 
 22 4 
 
 10 
 
 138 4 
 
 11 
 
 135 19 
 
 
 
 235 4 10 
 
 Exeter 
 
 85 7 
 
 8 
 
 119 16 
 
 6 
 
 140 7 
 
 8 
 
 179 
 
 Newcastle 
 
 23 16 
 
 11 
 
 109 9 
 
 6 
 
 167 1 
 
 3 
 
 126 15 9 
 
 Hull . . 
 
 
 
 102 2 
 
 8 
 
 101 3 
 
 2 
 
 152 2 4 
 
 Norwich 
 
 •• 
 
 
 
 
 96 
 
 10 
 
 161 5 6 
 
 
 £1,469 14 
 
 11 
 
 £2,554 12 
 
 5 
 
 £2,861 10 
 
 4 
 
 £5,080 18 6 
 
 
 Total 
 
 •• 
 
 •• 
 
 
 £11,966 16 
 
 2 
 
 
 
 
 
 
 
 
 
 
 The Number of Country Bankers who act with 
 Bank of England Notes exclusively, having 
 fixed Amounts assigned ; the Total Amount of 
 the Credit; and the Rate at which they 
 discount. 
 
 Gloucester 
 Birmingham 
 Liverpool 
 Hull .. 
 
 Eleven £ 
 
 £ 
 
 30,000 
 426,000 
 300,000 
 
 30,000 
 
 786,000 
 
 ♦ N.B.— With two of these Parties the Limit is not yet 
 actually fixed. 
 
 Rate of Discount charged to ) „ o „„> „„„,. „„, a„„„™ 
 the Country Bankers \ ^•3- Per cent, per Annum. 
 
 An Account of Country Bankers who issue their 
 oum Notes, and who have been supplied with, or 
 are now receiving. Coin from the Branch 
 Banks, as occasion may require. 
 
 Gloucester . . 
 
 
 10 
 
 Manchester 
 
 
 
 8 
 
 Swansea 
 
 
 
 7 
 
 Birmingham 
 
 
 
 43 
 
 Liverpool . . 
 
 
 
 1 
 
 Bristol 
 
 
 
 12 
 
 Leeds 
 
 
 
 20 
 
 Exeter 
 
 
 
 14 
 
 Newcastle . . 
 
 
 
 8 
 
 HuU 
 
 
 
 7 
 
 Norwich 
 
 
 
 4 
 
 
 TOTA 
 
 D 
 
 134 
 
[^i8] 
 
 Britain S, do. xrbtrsft. 
 
 Established Prior to 1822. Partners. Discontinued Prior to 1838. 
 
 Information incomplete. 
 
 THE year 1822 supplies my earliest note of this firm being in the district 
 under review. Their head office was at Ripon. I am informed that Messrs. 
 Britain were also merchants at Leeds, doing a considerable business with 
 South America. 
 
 In the year named, Mr. Francis Hansell was their agent at Thirsk, his 
 premises being situated in Millgate. The firm are not quoted at Thirsk in 1838, 
 but I have no record as to when they relinquished their business. 
 
 K C. BroaMe^ S, Co. /lOaiton. 
 
 Established Prior to 1801. Partners. Discontinued Prior to 1838. 
 
 Information incomplete. 
 
 TT GULDEN'S Country Directory for 1802-3-4 announces the above firm as 
 bankers at Malton, their London agents being Dennison & Co. 
 
 Bulloch, Benjamin. ^orpetb. 
 
 Commenced 1847. Proprietor. Retired 1852. 
 
 Benjamin Bullock. 
 
 SOME little time prior to 1833, Messrs. Chapman & Co., of Newcastle, 
 opened a branch at Morpeth, appointing as their agent Mr. Benjamin 
 Thompson, who carried on business for them in the premises now occupied 
 by Mr. Webb as agent for the North-Eastern Banking Company. Subsequently 
 the Thompsons inherited the Spital Hall property at Mitford, when the family 
 name was changed to Bullock. In 1836 Messrs. Chapman's business was made over 
 to the Newcastle, Shields, and Sunderland Union Bank. When they suspended 
 payment in October, 1847, Mr. Benjamin Bullock (son of the above-mentioned 
 Benjamin Thompson), started banking in Morpeth on his own account. He is 
 placed amongst the private bankers in the Bankers' Almanack for 1849, 1850, 
 and i85i,but he does not appear to have had a London Agent. A Morpeth 
 informant says, " As far as I can make out it seems to have been looked on locally 
 as a kind of joke, the saying being, ' Mr. Bullock was open to receive deposits but 
 not to make advances.' " Subsequently he disposed of the Spital property to 
 Mr. Grey. Mr. Bullock left the North and retired to the neighbourhood of 
 London. Mr. Thompson was originally by trade a skinner, wool merchant, and 
 flannel weaver. 
 
[219] 
 
 Campion, nDargaret anb TRobert mmD^. 
 
 Founded 1800. Partners. Failed 1841. 
 
 Margaret Campion. Robert Campion. John Campion. 
 
 WE have now to record the first and only instance that has come under our 
 notice of a Lady banker. On January 2nd, 1800, Mrs. Margaret 
 Campion, in conjunction with her son Robert, added the profession of 
 banking to their other undertakings at Whitby. Mrs. Campion retired or died 
 prior to February 15th, 1804, from which date Mr. Robert Campion carried on the 
 business by himself, until some time after 18 17, when his son John was added to 
 the firm. In 1823 they are announced as in Church Street, their London Agents 
 being Curtis & Co. One of their notes for ^5 is dated 9th February, 1836, signed 
 for Robert and John Campion, John Campion. Entered by William Campion. The 
 banking was carried on until they suspended payment in 1841, and subsequently 
 became bankrupt. Their books show banking transactions with the following firms 
 (probably for the exchange of notes, as the Cheque system of the present 
 day was then very little in use), Messrs. Simpson, Chapman, & Co., Clark, 
 Richardson, & Co., Holt & Richardson, Jon. Sanders & Son, all of Whitby ; 
 Hutchinson & Place, Lumley, Smith, & Co., Smith, Elstob, & Co., of 
 Stockton ; Heaton & Morritt, R. W. G. & T. Moxon, of Hull ; Pease & Co., 
 Pease & Richardson, Richard Nightingale, Yarm ; Raper, Swann, & Co., York ; Sir 
 Christopher Sykes, Bart., & Co., Woodall, Tindall, & Co., Bower, Dewsbury, & Co., 
 J. Grainger & Co., Pease, Dunn, & Co., Malton; Jno. Tindall & Co., Scarborough; 
 Wentworth «& Co., Wilson & Co., Wilson, Tweedy, & Co., all of York ; Geo. 
 Clarke & Co., Boston ; Robarts, Curtis, & Co., London. 
 
 The last-named firm for seven years (1812 to 18 18,) are annually credited, 
 "Clerks' Xmas gifts, £2 2s." showing a pernicious and humihating practice that 
 used to exist of augmenting the clerks' salaries by contributions from the customers 
 of the bank. 
 
 In 1828 Messrs. Campion were receiving subscriptions for the Abolition of 
 Slavery. They engaged in several other businesses, being general merchants, 
 wine merchants, and manufacturers of sail-cloth on a large scale. They carried on 
 each branch of this trade — flax-dressing, weaving, and bleaching. The spinning 
 used to be done in private houses. 
 
 In 1807 Mr. R. Campion erected a spinning manufactory next his sail-cloth 
 factory in Bagdale. In 18 14 he substituted a larger factory with many improve- 
 ments. " It contained 12 spinning frames, each having 30 or ^6 spindles, besides 
 
[ 220 ] 
 
 carding frames and other ingenious machinery, the whole driven by an excellent 
 steam engine of 12 horse-power. ... A part of the work is allotted to the 
 preparation of the yarn for making sail-cloth without starch or any substitute for 
 it — an invention for which Mr. Campion received a patent in 1813." 
 
 A writer of the day says : — " The working of the Commission of Bankruptcy 
 up to November ist, 1842, shows these results : 'The parties were shipowners as 
 well as bankers. The debts proved against R. & J. Campion in the latter capacity 
 were ;^2 1,550, upon which a dividend of 1/3 in the pound has been paid ; against 
 J. & W. Campion as shipowners, ;^i 7,881 — dividend 1/6 ; against the separate 
 estate of R. Campion ;^2 3,348 — no dividend ; and upon the separate estates of 
 J. & W. Campion about ^6,000 each — dividend upon that of W. Campion 3/-, and 
 upon that of J. Campion 2/4 in the pound.' " 
 
 I am not able to record what occasioned these reverses of fortune, but there 
 can be no doubt that at one time the family were in a most substantial position. 
 Looking through the records of Whitby for a series of years, the names of Robert 
 and John Campion appear in connection with every public, literary, and 
 philanthropic movement. Robert Campion owned the farm of Foulsyth, 
 Trafford Hill Manor, his agent there being Richard Nightingale, and bills for 
 considerable amounts were constantly drawn upon each other. He was lord of 
 the manor of Easby, near Stokesley, and sometimes resided at Easby Hall, " a 
 neat, modern mansion, standing near the site of the ancient hall, which was long 
 the seat of the Lords Eure of Eure, the last of whom died in 1698." 
 
 In 1827, Mr. Robert Campion erected upon the highest point on Easby Moor 
 a monument in memory of Captain Cook. The foundation stone was laid July 
 12th, being the anniversary of Mr. Campion's birth, and the same day of the 
 month upon which Captain Cook left Plymouth upon his last voyage, 12th July, 
 1776. The work was completed October 27th, 1827, Captain Cook's birthday. 
 The obelisk is 12 feet square at the base, and 31 feet high. The inscription is 
 upon three cast iron plates, and records his birth at Marton, near Whitby, October 
 27th, 1728, and his massacre at Owhyhee, February 14th, 1779. The monument 
 still forms a conspicuous land-mark for many miles around the Cleveland Hills. 
 
 Robert Campion at one time was considered the most prosperous man in 
 Whitby. He married Miss Jane Smales of Whitby. Her father was a substantial 
 shipowner, and in spite of Mr. Campion's position he would insist upon his 
 daughter's portion being settled upon her ; this wise precaution proving most 
 valuable in after years. To show the changing values of landed interests, I may 
 state that Mr. Campion purchased from his sisters two shares of the Trafford Hill 
 
[22l] 
 
 estate for / 18,000, his own share being worth another ;^9,ooo. A few years ago, 
 for the whole property ^9,000 was all that was offered at an auction. 
 
 I am informed that eventually the Campion estate realised much better than 
 was anticipated — 1 6/- in the pound being paid. 
 
 Mr. R. Campion died December loth, 1866, aged 93, and was buried at St. 
 Mary's Church, Whitby. 
 
 After the failure, Mr. John Campion gave up commercial life, and entered 
 the Established Church. He took his M.A. degree, and was ordained at Lambeth 
 in 1845 by the Archbishop of Canterbury. In 1869 Lord Grimthorpe presented 
 him with the living of St. James's, Doncaster, from which he recently retired, and 
 is now living in privacy. 
 
 Since the abov-e was written, the following account has reached me : — 
 
 "The death took place on Saturday morning, May 19th, at the advanced age of 91, of the Rev. J. 
 Campion, formerly vicar of St. James', Doncaster. Mr. Campion was born at Whitby, on May 8th, 1803, 
 and he was held in the highest esteem by his old parishioners, and, indeed, by all who knew him. He 
 was made a deacon in 1843, and was ordained a priest in 1845 by the Bishop of Ripon. He was curate 
 of Knaresborough from 1848 to 1847, curate of Christ Church, Doncaster, from 1845 to 1848, and vicar 
 of East Acklam from 1847 to 1864. In 1869 he was appointed to the living of St. James', Doncaster, by 
 Mr. E. Denison and Mr. E. B. Denison, and in January, 1890, he resigned the living, to which the Rev. 
 E. H. Bennett was appointed. The rev. gentleman had been in failing health for several months. In 
 October he caught a chill on leaving church, and had only been out on three occasions since, and then 
 only for a short drive. Yesterday morning at St. James' Church, Doncaster, the Rev. H. Boultbee, 
 curate, briefly alluded to the death of Mr. Ctanpion. He said they knew his work as vicar of that 
 parish for over 30 years— his message to them was always the same, Jesus Christ and Him crucified, 
 and both in his life and in his message Jesus was the beginning and the end. In the evening the 
 vicar, the Rev. E. H. Bennet, also made a passing allusion to Mr. Campion's death. The funeral will 
 take place at Warmsworth on Wednesday afternoon. A memorial service will be held at St. James' 
 Church at the same time." 
 May, 1894. 
 
 Cbapman d Co. -Rewcastle-upon-XIsne. 
 
 Founded iBiS. Converted to Joint Stock Bank, 1836. 
 
 Partners. 
 
 Robert Spence. William Chapman. 
 
 Edward Chapman. Frederick Chapman. 
 
 John Mellor Chapman. 
 
 THE foundation of this bank was laid by Robert Spence, Draper, of North 
 Shields, a member of the Society of Friends, and a man in whom all other 
 men placed implicit confidence. In the early part of the present century, 
 like many of his compeers, he combined with his drapery business, the various 
 
[ 222 ] 
 
 mysteries in monetary transactions that constitute banking — though he was not 
 pubhcly announced as a banker. In 1818 two Friends, namely, Edward Chapman 
 of Whitby, whose relatives had been bankers there for many years, and William 
 
 Chapman* of Dockwray Square, North Shields, 
 entered into co-partnership with Robert Spence 
 to form the "North and South Shields Bank," 
 and carry on the "trade or business of bankers." 
 
 The deed of partnership is dated August, 
 
 1 8 18. The shares were to be held in the 
 
 following proportions : — Edward Chapman, one 
 
 quarter ; William Chapman, one half ; and 
 
 Robert Spence, one quarter. It was further 
 
 agreed : — " That Edward Chapman be allowed 
 
 at any time during the partnership to introduce 
 
 any son of any branch of the Chapman family 
 
 as a partner in the said trade, granting him 
 
 such portion of his one fourth share as he may 
 
 think proper." William Chapman to have the 
 
 same liberty to introduce his brother Frederick 
 
 Robert Spence. Chapman as a partner, with a portion of his 
 
 half share on his attaining 21 years. The term of the partnership was 14 years— 
 
 Edward Chapman to give as much of his time as he thought proper — William a 
 
 general superintendence — and Robert Spence his whole time from 10 to 3 o'clock. 
 
 It was originally stipulated that the capital required should be lent by the 
 Messrs. Chapman, but when the business was established, each of the three 
 partners subscribed the proportion represented by his share. 
 
 Business was commenced in North Shields, January ist, 18 19, the South 
 Shields Branch being opened soon afterwards. By 1823 they had extended their 
 borders to Newcastle. At that date they are announced at the West End of 
 Mosley Street, or 39, St. Nicholas' Square — which eventually became the 
 head office. 
 
 Messrs. Fry and Chapman were appointed their London Agents, and a good 
 and profitable business was carried on from the first. Towards the close of 1828, 
 Messrs. Fry and Chapman stopped payment. Their failure occasioned a most 
 scurrilous article in Cobbett's "Weekly Political Register," November 29th, 1828. 
 As they were the London Agents for a great many country bankers, it naturally 
 
 ♦ Sarah Chapman (mother of William Chapman of Whitby), left in 1757, j£50 in trust to George Wakefield, 
 Mercer, and others, for the repair of the Meeting House and Burial Ground at North Shields. 
 
[^^3] 
 
 caused some alarm, and occasioned a sharp run upon Messrs. Chapman, at their 
 head office and branches, and sent a rush of notes suddenly upon them. 
 Fortunately they were well prepared for such an emergency. An extract from the 
 diary of Mr. Spence (from which source much of my information is gathered) thus 
 briefly records the progress of the run : — 
 
 " Bank (notes) and Gold on hand on the 26th when the account reached Shields, £31,000 odd, paid at 
 
 Shields No. So. Shields. Newcastle. 
 
 6,100 3,320 2,500 
 
 1,800 688 2,000 
 
 258 179 1,200" 
 
 Being /ii,920 the first day, £4,488 the second, and £\fiyj the third — Total, 
 ^18,045. The rush was sharp but short. The diarist adds: — "Confidence 
 completely restored and many gratifying instances of it." 
 
 The firm issued their own notes. One dated August ist, 18 18, is here 
 produced. 
 
 N^?,^1>(^ v/^S0at(i:^:>fii<4S %'Mnr 
 
 In 1 83 1 Mr. Spence's son Robert 
 
 "left school at the age of fourteen to enter his father's ofl&ce, with the expectation of one day taking 
 his place in the firm. He had a great natural aptitude for figures, and a large part of the work of the 
 busy little office (at North Shields) was soon thrown upon him, for his father was frequently called 
 away by other business or by public duties, and the elderly clerk would take the same opportunity to 
 slip out to enjoy convivial society and his flute." 
 
 At the expiration of the first term of fourteen years, the original partners 
 entered into a second agreement for a similar period from January ist, 1833. The 
 
[224] 
 
 names of Frederick Chapman (brother of William) and John Mellor Chapman 
 were also included in the co-partnership, the former having joined in 1826, and the 
 latter about the same time. The capital was to be ^20,000, subscribed in 
 proportion to the shares held by each partner. In addition to this, Edward 
 Chapman undertook to find a further sum of ;^ 10,000, in case of need at any time. 
 No personal attention was to be required from Edward Chapman, and for 
 services to be rendered William was to receive a salary of ;^2oo per annum. The 
 profits of the establishment were to be divided in the following manner : — Edward 
 Chapman ^\ and ^V, William Chapman ^% Robert Spence ^^, Frederick Chapman ^-g, 
 John M. Chapman ^\ and ^V- Each of the partners to have power to bequeath his 
 share by will to a successor. Frederick Chapman retired from the firm in 1835. 
 
 On the 20th January, 1836, the senior partner, Edward Chapman, met with 
 an accident that resulted in his death two days afterwards. Probably this circum- 
 stance, and the rage that was then abroad for banks under the Joint Stock 
 principle, led to the conversion of the establishment into such an institution. On 
 June 7th, 1836, the goodwill of the business was disposed of for ;^20,ooo to the 
 Newcastle, Shields, and Sunderland Union Joint Stock Bank ; the old partners 
 becoming large shareholders and continuing in the management. The new 
 business commenced on July ist, 1836, in the premises occupied by the old firm in 
 Newcastle, North and South Shields, and Morpeth, where a branch had been 
 recently established. 
 
 From a friend who was "Junior" with Messrs. Chapman, at the time of the 
 transfer, I have gathered some interesting particulars regarding the conveyance of 
 money at that time. Once a week he had to go to Mr. Benjamin Thompson, the 
 Morpeth Agent, to bring away his surplus cash. This was placed in a strong oak 
 box heavily bound with iron, with a projecting "eye." In the boot of the coach 
 was a heavy iron chain, one end of which was fastened to the coach and the other 
 pad-locked to the box. The " pays" for Haswell Colliery were in the same manner 
 conveyed to Durham, where an agent from the colliery met the bank official, and 
 took the contents fi^om the box. 
 
 ROBERT SPENCE originally sprang fi-om Nidderdale in Yorkshire, and was 
 a member of a family of Quaker yeomen. He came to North Shields in 1804 to 
 join his relative Joseph Procter in business, their premises then being at the 
 Wooden Bridge. Robert Spence was the first Treasurer after the Incorporation of 
 the Borough. Some of his sons early showed an interest in municipal and political 
 matters. For fifty years no two men have done more public work in the district 
 than John Foster Spence and Joseph Spence (the former still in full service), sons 
 of the first Robert Spence. The founder of the bank was born 1774, and died 
 
[^^5] 
 
 August 17th, 1846, honoured and respected by all men. His son Robert, who 
 so early entered his father's business, became the well-known partner in Hodgkin, 
 Barnett, & Co., in the account of which bank further particulars regarding him 
 will be found. 
 
 The Chapmans were a Whitby family (see account of Simpson, Chapman, & Co.). 
 They must have had some early associations with North Shields, as in 1757, Sarah 
 Chapman of Whitby left £^0 in trust to Robert Chapman of North Shields, master 
 mariner, and others, to repair North Shields Quaker meeting-house and burial- 
 ground. I am informed that Edward Chapman resided in Whitby, and only 
 occasionally visited North Shields. He died at Whitby, and a York paper giving 
 an account of the accident which caused his death says : — 
 
 *' The death of this much respected Gentleman was occasioned by his accidentally falling from the 
 deck of the ' Camden,' a family ship, the repairs of which he was superintending, into the hold, a 
 depth of 22 feet, and although medical assistance was promptly procured, yet it was found unavailing 
 to repair the injuries he had received, and after lingering in great pain from Wednesday until Friday, 
 his spirit returned to the God who gave it." 
 
 WILLIAM CHAPMAN was a rope-maker on the Ropery Banks, North 
 Shields, at the time of his joining the bank. In after years he aspired to Parha- 
 mentary honours. In July, 1841, he unsuccessfully contested the Borough of 
 Tynemouth in the Conservative interest, Mr. Mitcalfe being the fortunate candidate. 
 The defeated party consoled themselves by a public dinner held in North Shields, 
 on August 9th, 1 84 1. During his residence in Newcastle he was a prominent 
 figure in all public movements of a religious and philanthropic nature. After the 
 failure of the Union Bank he left the country and for some time resided in Italy, 
 but he eventually returned to England and lived in extreme retirement to an 
 advanced old age. 
 
 Cba^tor, Sir Milliam, 6< Co, sun&erian&. 
 
 Purchased by The Union 
 
 Founded 1829. Partners. 
 
 Joint Stock Bank, 1836. 
 
 Sir William Chaytor. 
 John Frankland. 
 James Wilkinson. 
 
 THE partnership consisted of Sir William Chaytor of Witton Castle, John 
 Frankland of Whitby, and James Wilkinson of Sunderland. Business was 
 commenced on October 20th, 1829, at Sunderland, Durham, Whitby, and 
 occasionally at Bishop Auckland. A branch was opened at Hartlepool (December, 
 
\_226'] 
 
 1833) which was the first banking establishment possessed by that town. At first 
 the firm issued their own notes (one of which is here produced), and had a 
 circulation of from ^30,000 to ;^35,ooo. 
 
 Subsequently the note issue was abandoned, and the paper of the Bank of England 
 substituted, the notes being drawn from the Newcastle Branch of that establishment. 
 The notes of Chaytor & Co. were destroyed by burning them as they were 
 written off the circulation. 
 
 In June, 1836, Messrs. Chapman & Co. s bank in Newcastle was turned into 
 a Joint Stock Company, under the style of the Newcastle, Shields, and Sunderland 
 Union Joint Stock Bank. They commenced business July ist of that year, and 
 arrangements were soon made for purchasing the connection of Sir William 
 Chaytor & Co. The reasons for sale were " partly because some of the partners 
 were getting up in age, and partly because it was thought that the Joint Stock 
 Banks, then very popular, would take away the business from the private banks." 
 Mr. Henry Chaytor, a son of Sir William, felt strongly that it was a mistake to 
 dispose of the business, and subsequent events fully justified that opinion. 
 
 Sir William Chaytor of Witton Castle contested the representation of Durham 
 in August, 1830, but was unsuccessful. At the first election for the borough of 
 Sunderland he was returned at the head of the poll. He was not a fortunate 
 candidate at the next general election, and was again defeated in 1837. On 
 August 1 8th of that year, "a public dinner was given in Sunderland to 
 H. Lambton, Esq., M.P., and Sir Wm. Chaytor, Bart., by the Liberals of that 
 
l^^l^ 
 
 District." In 1839 Sir William sold the Witton Castle estate to D. Maclean, Esq., 
 M.P. for Oxford, for ;^95,ooo. The purchase money was not forthcoming, and 
 was never paid. In July, 1846, Mr. Maclean was made a bankrupt, having fled 
 the country deeply in debt. In 1851 the property was re-sold to Mr. H. Chaytor 
 for ^53,540. Sir William Chaytor died January 28th, 1847, at Clervaux Castle, 
 near Croft, aged 'jd. 
 
 After the bank was taken over by the Union Joint Stock Bank, the notes of 
 that Company were issued, the circulation reaching about ^90,000. After the 
 stoppage of the Union Bank, these notes were gradually written off and destroyed 
 by Mr. Henry Chaytor, one of the Committee appointed for winding up the Union 
 Bank. The business of the Sunderland branch after the transfer to the Union Bank, 
 was under the able management of Mr. Matthew Hutton Chaytor. 
 
 Clarke, IRicbarbeon, & IbobGSOU, Mbttbip. 
 
 Passed to York City and 
 
 Founded 1786. Partners. 
 
 County Bank, 1846. 
 
 Information incomplete. 
 
 THIS was the second finn in Whitby to open their doors to the public as 
 regular bankers, which they did September 26th, 1786, though it is highly 
 probable that prior to that date Christopher Hodgson, and Clarke, 
 Richardson, & Co. had transactions of a banking nature in conjunction with their 
 other business. In 1781, Christopher Hodgson is named as a merchant. He 
 married first on June 3rd, 1774, Diana Robson, who died October 2nd, 1788. Her 
 monumental inscription describes her husband as a "Banker." His second 
 marriage is thus announced : — 
 
 "August 17th, 1792, Christopher Hodgson, Esq., banker, of Malton, Co. York, to Miss Eliz. Gilder, 
 daughter of the late Eev. Jonathan Gilder, rector of Arpeden, Herts." 
 
 In the marriage license he is named as "Mercer and Draper," and in the Lythe 
 churchwardens' accounts, as Wine Merchant. 
 
 In the York Courant, April 15th, 1788, Mr. Hodgson advertised for a clerk : — 
 " Wanted a principal Clerk in a Banking House in the North Riding of Yorkshire. 
 Apply by letter to Mr. C. Hodgson, Whitby." 
 
 In 1789 the drapery business was advertised for sale : — 
 
 " To let at May Day a house and well accustomed Woollen Drapery business in Baxter Gate Whitby 
 who is going to decline the business which is to be disposed for liberal terms. — March 17th, 1789." 
 
[228] 
 
 Mr. Hodgson soon after retired from the firm and joined Messrs. Hayes, 
 Leatham, and Hodgson, Bankers, Malton, where they are recorded in 1793. 
 Ultimately his affairs came into bankruptcy or assignment. His premises in 
 Baxtergate, Whitby, were in possession of the late John Morrell, Watch-maker, 
 who for 21 years paid a nominal amount into Messrs. Simpson, Chapman, & Co.'s 
 bank, and by withdrawing the same, he or his family M^as able to give a title. 
 
 It would appear that a member of the Pease family entered the Whitby firm, 
 as the British Directory for 1790 announces: — "Pease, Richardson, & Co., 
 Bankers, Whitby," and Messrs. Campion's books show banking transactions with 
 Pease & Richardson, 1792 to 1814 (Messrs. Pease & Co. are also named during 
 part of the same period). 
 
 The firm seems to have suspended payment for a short time during the panic 
 of 1793. In the Newcastle Chronicle for May 18th, 1793, the friends of Messrs. 
 Pease & Harrison of Hull, and Messrs. Richardson & Co. of Malton and Whitby, 
 are informed : — 
 
 " That their respective Banks have again opened for business with the same punctuality and attention 
 as has always distinguished their conduct until that fatal moment which involved almost every Bank 
 in the Kingdom in disappointment and temporary distress." 
 
 On January ist, 1816, the firm of Richardson, Holt, & Co. are announced, 
 their premises being in the old Market Place, where for many years they carried 
 on an extensive business.* In 1823, Messrs. Richardson, Holt, & Co. are recorded 
 in Flowergate, their London Agents being Messrs. Curtis & Co. In 1840, the 
 same firm are quoted in the old Market Place. They appear in the lists of 
 Whitby bankers up to 1846, when they were absorbed by the York City and 
 County Bank. 
 
 Regarding the close of the bank, I have been favoured with the following : — 
 
 " At the time of the voluntary winding-up of the Firm, it consisted of Christopher Richardson and 
 John Holt ; for some reason they wished to end their business as bankers and approached the York 
 City, but the latter seem to have wanted payment for taking over the bank, Messrs. Richardson and 
 Holt being quite solvent, naturally declined, and proceeded to wind up voluntarily. Eventually some 
 arrangement was made with the York City, but I am told that no money passed between the two 
 banks. Mr. Christopher Richardson, one of the family, afterwards became manager of the Whitby 
 Branch of the ' York City,' and continued in that post for many years." 
 
 An amusing story is told regarding a descendant of Mr. Hodgson. The Rev. 
 William Keene, incumbent of Whitby about 1842, married a daughter of Judge 
 Thomas of the Madras Presidency. She was grand-daughter of old Christopher 
 Hodgson, draper and banker at Whitby. When the happy pair were receiving 
 
 ♦In 1800 the London banking firm of Joseph Smith & Co., 60, Old Broad Street, became Smith and Holt. 
 
[229] 
 
 the guests at the Rectory, "all sorts and conditions" of visitors called. One 
 well-intentioned but misguided individual brought and duly presented, as of much 
 interest and curiosity to the bride, the identical sign-board (about 2 -ft. by i-ft. 4-in.) 
 that graced Christopher Hodgson's shop when he practised the arts and mysteries 
 of the drapery trade. 
 
 At the time the bank commenced, Christopher Richardson was a wine 
 merchant. In October, 1778, he obtained a license for premises that had till then 
 been the ecclesiastical Chapel of St. Ninian's. The building is still standing and 
 forms No. 3, Baxtergate, and is at present in the occupation of Mr. W. H. 
 Falkenbridge. It retains many points of interest. Up to the time of Mr. 
 Richardson obtaining possession it had been used for sacred services, and its 
 desecration brought forth some verses from a local poet : — 
 
 ' Where Eske, when swelled by frequent hail and rain 
 Bolls swift its tribute to the neighbouring main : 
 A sacred fane there stood in days of yore, 
 Where ancient dames repair'd to pray — or snore ; 
 Its gilded spires they say were seen by few, 
 I knew them well— as every blind man knew; 
 But like the temple once— the clergy fled, 
 A most abandon'd tribe reign in their stead : 
 Where Scripture texts once purg'd away old leaven 
 Now purging balls and diet drinks are given ; 
 The Bostrum that did once its wall adorn 
 Is now a reservoir of pilfer'd com ; 
 
 Where — 's soft voice once charmed the listing ear 
 You nothing now but neighing coursers hear, 
 Without, the nymphs of Cloacine dispense 
 Ambrosial odours grateful to the sense, 
 Along its walls the fllth of all the town 
 Dead dogs, cats, stones, and dirt come tumbling down; 
 Incessant is the noise upon the shore. 
 Where wenches wrangle and where porters roar 
 While dogs from dogs the pilfer'd bones purloin. 
 And men, cats, queans, and boys the squalling concert 
 join." 
 
 Mr. Richardson died at Whitby, April 26th, 1825, aged 'j'i,. 
 
 Mr. Clarke was of a Whitby family : at one time he owned the Woodlands 
 estate, which he sold to Mr. Yeoman early in the present century ; he also 
 possessed several ships. 
 
 Mr. John Holt died July 6th, 1828, aged 86. He was succeeded by his son 
 John Holt, who remained a partner in the bank until the business was given up as 
 before stated. He died at Whitby on 25th September, 1850, having had three 
 sons and six daughters. 
 
 Clement, 3obn» 
 
 Founded about 1772. 
 
 H)arllnatoii. 
 
 Extinct prior to 1790. 
 
 Proprietor. 
 John Clement. 
 
 IN 1772, J. Clement was established in Darlington. When he commenced 
 business cannot be ascertained, our earliest infomiation regarding him being 
 in connection with the circulation of Portugal Gold. In the year named, the 
 currency of the country was both very scarce and very defective. There was a 
 great quantity of Portugal Gold in circulation in the North of England, but from 
 frequent announcements in the newspapers of the day, we gather that much of it 
 
[^30] 
 
 was spurious and difficult to detect. The district around Darlington appears to 
 have been flooded with these coins. One writer says : — 
 
 " About this time there was an extraordinary antipathy among the people to taking Portugal gold, 
 which was then in abundant circulation. This rose to such a height, that when a farm-house near 
 Gainford was robbed, the villains only took some ten guineas out of a purse holding about £14, the 
 rest being Portugal gold, owing as it was supposed to the difficulty in passing it. The indiscriminate 
 refusal of this gold caused such great inconvenience, that at a meeting at the Posthouse on September 
 22nd, 1772, the gentlemen and tradesmen of Darlington unanimously agreed to receive as usual all 
 Portugal coin that was good. This encouragement of its circulation was however almost rendered 
 abortive by the collector of the revenue and the farmers in general refusing to take it. Another 
 meeting was held in the ToUbooth on February 26th following, and all good foreign gold agreed to be 
 taken in payment as usual." 
 
 In October, 1772, Mr. John Clement of Darlington, Banker, advertised to 
 give in change for Portugal Gold, guineas or London Drafts at one month.* 
 
 In the year 1767, the Darlingtonians were contemplating the formation of a 
 canal from Stockton by Darlington to Winston. A meeting was held at the Post- 
 house, November 9th, when it was resolved to open a list for voluntary subscriptions 
 to defray preliminary expenses. A list of the subscribers is before me, and amongst 
 them is John Clement. The names also appear of Sir John Eden, James Bland, 
 William, Thomas, and Ralph Hutchinson, Thomas Peirse, James and Jonathan 
 Backhouse, John, Joseph, Edward, and Thomas Pease, Richard Richardson, Wm. 
 Wetherell, and William Chaytor, nearly all of whom subsequently became bankers. 
 
 The day-book of Messrs. Backhouse & Co., Darlington, for 1778 to 1780, 
 shows numerous banking transactions with John Clement. His name is not 
 mentioned at Darlington in the British Directory for 1790. 
 
 (lOQ>\{C, 1Robtn0On, ^ Co* Sunberlant). 
 
 THE SHIELDS AND SUNDERLAND BANK. 
 Founded prior to 1803. Partners. Failed in 1816 
 
 John Coohe. — Robinson. Thomas Coohe. 
 
 NO information has been obtained of the date of the formation of this Bank. 
 The panic of 1803 is the first public notice that we have found concerning 
 them. At that time they craved the indulgence of the public in the 
 following announcement : — 
 
 " Messrs. Cooke, Robinson, & Co. respectfully inform the Public, that from the recent Failures that 
 have taken Place in the Mercantile Part of the Community, and the Injury which the public credit 
 
 * From a file of the Darlington Pamphlet or County of Durham Intelligence, published by Sadler, June 5th to 
 November 6th, 1772, now in the possession of Mr. O. B. Wooler of Darlington, and very rarely to be met with, I 
 copy the following: — "Portugal Gold Exchanged. — Guineas or London Drafts at one month for Portugal Gold 
 Sterling of the 36/8 coin, not wanting in weight more than one shilling a 36/s piece. And for Lighter 36/s pieces 
 and moidores, £i 18s. 6d. per ounce or the then price of gold coin. For which price see this paper. Apply to 
 Mr. John Clement of Darlington." In another part of the same paper, gold is quoted in coin or bar at 
 £Z 183. Cd. per ounce. 
 
[^3i] 
 
 has sustained in consequence, they are under the Necessity of suspending their Payments for the 
 present ; and therefore request the indulgence of those who hold their Notes and Bills until effectual 
 Arrangements can be made for their Discharge. IMessrs. Cooke, Robinson, & Co. are busied in preparing 
 a statement of their Accounts, which they purpose laying before Gentlemen of Respectability in a short 
 space of Time, whose Report, they trust, will be satisfactory to the Public, to whom they have the 
 Confidence to state the ultimate Stability of their Funds. 28th July, 1803." 
 
 The Committee appointed were : — William Peareth, Robert Allan, William 
 Ettrick, Jacob Maude, C. T. Thomhill, and Thomas Wright, of Sunderland, and 
 on the 23rd of August, 1803, they issued their report as follows : — 
 
 " At the request of Messrs. Cooke, Robinson, & Co., we have carefully inspected the Statement of their 
 Accounts laid before us, and have the satisfaction to acquaint the Public that, from the Capital 
 employed by them and the different Securities in their Hands, it appears to us that a considerable 
 Balance will remain, after discharging all their Notes and other Bank Debts, exclusive of their private 
 Property. We are assured that Messrs. Cooke, Robinson, & Co., are making every Exertion in their 
 Power to enable them to resume their payments, and therefore request the Indulgence of the Public 
 in their Favour until such Arrangements can be effected." The firm '* Respectfully inform the Public 
 that they hope the Arrangements above alluded to will enable them to resume their Payments, and to 
 meet the whole Demands of the Public, in the course of a very few Months ; and to prevent any Loss 
 to the Holders of their Notes and Bills in the mean Time, they engage to allow legal Interest for the 
 same from the 23rd July last to the Time of their Discharge." 
 
 The obligation thus voluntarily incurred by the bankers must have been 
 heavy, as of course from the date named all holders of notes would claim interest, 
 which on the arrival of the day of reckoning must have been considerable. The 
 distress and inconvenience caused throughout the north by these constant bank 
 collapses must have been very great. A London paper of September 7th, 1803, 
 says : — 
 
 " Such is the distress in the northern counties— Northumberland, Durham, &c. — owing to the 
 cessation of payment by the country banks, that hardly any one will give change for a twenty-shilling 
 note. Cash has totally disappeared." 
 
 J. P. Halbert, the enterprising woollen draper of Dean Street, Newcastle, 
 announced about this time that for all goods the notes of Messrs. Cooke, 
 Robinson, & Co. would be taken as usual. In due course the bank resumed cash 
 payments, and for some years their notes must have had a free circulation. In 
 1805 the firm had become John and Thomas Cooke & Co., for one-pound notes 
 dated in that and the following year are signed " For John and Thomas Cooke & 
 Co., J. Cooke." 
 
 The years 1815 and 18 16 were black with bank failures, and panic was wide- 
 spread on the banks of the Wear. In 18 16, their promissory notes, with othe? 
 liabilities, came so thickly upon Messrs. Cooke that they were compelled to close 
 their doors, and John Cooke, who appears then to have been the sole partner, 
 eventually came into the Bankruptcy Court. 
 
 A quarto hand-bill, headed " Cooke's Bankruptcy," desires " the Creditors who have proved their debts 
 under a Commission of Bankruptcy, awarded and issued against John Cooke, of Coxhoe, in the Coimty 
 
[232] 
 
 of Durham, carrying on tlie Trade of Banker at Sunderland-near-the-Sea, . . . under the firm of 
 ' John and Thomas Cooke and Co.' ... to meet the Assignees of his Estate and Effects, on 
 Friday, the 22nd November, at the Commission Room, in the Exchange Buildings, in Sunderland 
 . . . to assent and confirm . . . the Resolutions . . . entered into on November 9th." 
 
 The distress throughout the county at this time was very great, the Wear 
 Bank (Goodchild, Jackson, & Co.), Messrs. Mowbray, Holhngsworth, & Co., 
 bankers, at Durham, and Lumley & Co. (Stockton and Cleveland Bank), having 
 all failed shortly before Messrs. Cooke's stoppage. 
 
 We have no further record regarding this bank until 1824 — eight years after 
 the failure — when an announcement of rare integrity and generosity is made : — • 
 
 " The Assignees of John Cooke, late of Sunderland, Banker, will attend at the Commission Room, in 
 the Exchange Buildings, Sunderland, on Monday, the 26th, Tuesday, the 27th, Wednesday, the 28th, 
 and Saturday, the 31st inst., from 10 till 4 o'clock on each day, for the purpose of dividing amongst 
 the Creditors of the above-named John Cooke, a sum of Money presented to them by his eldest Son. 
 The Creditors will be then required to produce all their Notes and other Securities which are yet in 
 their possession." 
 
 Sunderland, 15th January, 18li4. 
 
 A local paper commenting upon the above, says : — 
 
 " We feel much pleasure in calling the attention of our readers to an advertisement in another column, 
 referring to an act of liberality, seldom equalled, on the part of the eldest son of Mr. Cooke, late 
 banker, of Sunderland. He has raised the sum of 13,0001. on his inheritance in an estate, his father's 
 life interest in which has been already sold for the benefit of the creditors, and in the handsomest 
 manner presented it to them." 
 
 A foot-note in Fordyce's " History of Durham," Vol. IL, p. 520, says : — 
 
 " So recently as May, 1843, Mr. Commissioner Ellison, in the Newcastle-upon-Tyne District Court of 
 Bankruptcy, investigated certain claims in John Cooke's bankruptcy. It was found that a first 
 dividend of Is. 6d. in the pound was made in 1821, and a second, of 2d. in the pound, about the year 1836 ; 
 the total debts being upwards of 134,0001. Further assets had afterwards been collected, but no steps 
 taken to divide them, a claim in equity having been made against the assignees. Mr. Commissioner 
 Ellison, having disallowed this claim, fixed sittings to audit and divide the remaining assets. Several 
 persons in humble life appeared, to prove on the promissory notes of the bank. Not having done so for 
 27 years, they were strictly examined by the court, but swore that the notes were taken by them for 
 value before the commission issued in 1816, and were admitted to prove. There were proofs on the 
 proceedings to the amount of 18,4281. which had not been expunged, but upon which, nevertheless, the 
 first and second dividends had not been computed ; this class of creditors having, from friendship to 
 the bankrupt, and a desire to augment the dividends payable, voluntarily abandoned their claim. The 
 assignees, the solicitors, and some of the commissioners were since dead ; but it was decided that 
 these proofs should be admitted. In 1822, before the bankrupt obtained his certificate, his friends paid 
 a bonus of 2/- in the pound to 1,400 creditors, upon notes, who had not then or since proved, but who 
 upon receipt thereof, gave up such notes, which the assignees, to prevent fraudulent transfer, 
 destroyed. Some of these creditors now claimed, and were allowed to prove. The final dividend, 
 after all those claims upon the small amount of assets in hand were allowed, was, of course, very 
 small. 
 
 " The previous dividends were paid at Sunderland, Newcastle, and Shields. On the second 
 occasion constables had to be employed at Sunderland to keep order among the recipients, who were 
 admitted by a door, and passed out through the window and down a ladder to prevent confusion. A 
 waggon load of books were subsequently transferred to the official assignee." 
 
[^33] ^___ 
 
 Bale Si do. Soutb Sbtel&s. 
 
 Founded 1858. Passed to North Eastern Banking 
 
 Company, Newcastle-upon-Tyne, 1892. 
 Partners. 
 
 ^ohn Brodrick Dale. Henry Nelson. 
 
 John Harrison Miller. Brodrick Dale. 
 
 James Young. Thomas Nelson. 
 
 Charles Henry Green. Charles William Anderson. 
 
 John Henry Dale. Charles W. M. Dale. 
 
 ABOUT the month of June, 1858, John Brodrick Dale opened a bank 
 j^-^ in South Shields, as "Dale & Co.," his London agents being Messrs. 
 Glyn & Co. Mr. Dale was no stranger to banking, or to South Shields. 
 He had gained a thorough knowledge of the business in the establishment of the 
 Northumberland and Durham District Bank. In 1852 he became manager of the 
 South Shields branch of that house, the vacancy being caused by the retirement of 
 Mr. Clay. Upon the failure of the bank in 1857, for a short time Mr. Dale became 
 partner in Messrs. Hawks, Grey, Priestman, & Co., but upon the dissolution of 
 that firm in May, 1858, he was urged by many friends to open a bank in South 
 Shields, where as manager for the "District" he had gained considerable popularity. 
 
 In October of the same year, Mr. Dale was joined by John Harrison Miller, 
 who was introduced to him by Sir Richard Glyn. The firm became Dale, 
 Miller, & Co. A steady and extending business followed, until 1866, when 
 Mr. Miller died. Mr. Dale was then joined by James Young of South Shields, and 
 Charles Henry Green of Newcastle, the style of the firm being Dale, Young, & Co. 
 Later in the same year the business was further extended by opening a branch at 
 Jarrow, Robert Dickinson being appointed agent, which position he held until 1875, 
 when John Henry Dale, son of the senior partner, assumed the management. In 
 the following year he was admitted to the firm. 
 
 Mr. Green died in 1879, the three remaining partners constituting the firm 
 imtil 1882, when the style of the house became Dale, Young, Nelson, & Co., the 
 partners being John Brodrick Dale, Westoe, South Shields ; James Young, Ogle 
 Terrace, South Shields ; Henry Nelson, Westoe, South Shields ; John Henry Dale, 
 Victoria Terrace, South Shields ; and Brodrick Dale, Ormonde Street, Jarrow. In 
 1883 the head office was removed to Newcastle-upon-Tyne. In 1886 Thomas 
 Nelson, son of one of the partners, was admitted to the firm. In the following 
 year, Mr. Young's name was omitted from the partnership, his place being taken 
 by Charles William Anderson of South Shields. Mr. Nelson, sen., died in 1891; 
 Mr. Nelson, jun., retired in the same year ; * and Charles William Mitcalfe 
 
 ♦ Mr. Thos. Nelson died July, 1894, while these pages were going through the press. 
 
[234] 
 Messrs. DALE. 
 
 ^ohn Henry Dale. 
 Brodrick Dale, 
 
 John Brodrick Dale. 
 Charles W. M. Dale. 
 
[235] 
 
 Dale, Barrister-at-law, another son of the founder, was admitted to the partnership, 
 the firm reverting to its old name of Dale, Young, & Co. On October ist, 1891, 
 the head office was removed from King Street, Quayside, to commodious and 
 well-appointed offices in Grey Street, Newcastle. The firm was one of the first 
 of the private banks in the North to publish an Audited Balance Sheet. This 
 step of voluntarily laying their affairs before their clients met with the cordial 
 approval of all classes. The balance sheet will show the extent of their business, 
 and the position of affairs at the date named. 
 
 DALE, YOUNG, & CO., Balance-sheet, 31st December, 1891. 
 
 LIABILITIES. 
 
 Partners' capital and reserve 
 
 Deposit, current and other accounts . . 
 
 Acceptances by London agents (Messrs. Glyn and Co.) . 
 
 £100,000 
 
 391,556 12 5 
 
 14,991 16 
 
 ASSETS. 
 
 Cash in hand, at Bank of England, Newcastle, and at agents 
 
 £22,000 2 j per cent, consols, at 92 . . 
 
 Bills discounted in hand 
 
 Advances to customers on current and other accounts . 
 
 Liability of customers for acceptances, as per contra 
 
 Bank premises and other securities . . 
 
 £506,548 8 5 
 
 £100,900 18 11 
 
 20,240 
 
 226,078 11 
 
 135,470 10 10 
 
 14,991 16 
 
 8,866 11 8 
 
 £506,548 8 5 
 
 Mr. John Henry Dale died in February, 1892. For some years previously 
 the state of his health would not permit him to take any active part in the 
 business. In July of the same year arrangements were pending for amalgamation 
 with the North Eastern Banking Company, and soon afterwards the following 
 joint circular was issued : — 
 
 Bank, Nbwcastle-on-Tyne, 9th July, 1892. 
 We have the pleasure to inform you that our Banking business has been amalgamated with that of the 
 North Eastern Banking Company, Limited, and it will be carried on by them at our premises in 
 Newcastle, South Shields, and Jarrow. 
 
 The arrangements thus made will secure a continuance of all the conveniences and advantages 
 which it has hitherto been our privilege to offer to our customers, besides other facilities, which the 
 amalgamation with a larger Bank, having numerous branches, will afford. 
 
 We therefore hope that you will repose in the North Eastern Banking Co., Limited, the 
 confidence which we have enjoyed for so many years, and for which we sincerely thank you. 
 
 As our valued friends, Messrs. Glyn, Mills, Currie, & Co., are also the London Agents of the 
 North Eastern Banking Co., there will be no change in this respect. 
 
 We may add that our senior partner, Mr. John Brodrick Dale, joins the Board of the North 
 Eastern Bank, and that his two sons, Mr. Brodrick Dale and Mr. 0. W. M. Dale, are to hold 
 influential positions therein ; also that the North Eastern Bank have the assistance of the whole of 
 our present staff.— We are, your faithful servants, Dale, Young, & Co. 
 
[236] 
 
 22, Grey Steeet, Newcastle-upon-Tyne, 9th June, 1892. 
 With reference to the annexed Circular of Messrs. Dale, Young, & Co., notifying the 
 amalgamation of their Bank with this Company, I am instructed by my Directors to express their 
 hope that we may be favoured with a continuance of the confidence and support wliich you have 
 hitherto accorded to Messrs. Dale, Young, & Co. 
 
 I have the pleasure to enclose a copy of our last Half-yearly Report. 
 
 I am, your obedient Servant, 
 
 For the North Eastern Banking Co., Limited, 
 B. Noble, General Manager. 
 
 Thus terminated a successful business of 34 years' trading, the founder, John 
 Brodrick Dale, having remained the senior partner during the entire period. With 
 the exception of having a seat upon the Board of the North Eastern Bank, Mr. 
 Dale retired into private life, but was not long spared to enjoy his well-earned rest. 
 He died in December of the same year, after spending over fifty years of his life in 
 active banking work. At the time of his death, Mr. Dale was a member of the 
 Committee of the Association of English Country Bankers. He was born in 1821, 
 so that he would be in his seventy-second year at the time of his death. He was 
 the son of John Dale of Dockwray Square, North Shields, who married Isabella, 
 one of the daughters of Mr. William Mitcalfe of Tynemouth House, an extensive 
 shipowner. Mr. Mitcalfe had several daughters who from their father's wealth 
 acquired the name of the " Golden Dumplings." 
 
 Mr. J. B. Dale commenced his business training in the Northumberland and 
 Durham District Bank, at their head office, about the time of their beginning business 
 in 1836, travelHng to Newcastle from North Shields daily by coach. One of his 
 first duties was to clip the notes of other country bankers passing through the 
 bank's hands by post, in order to reduce the weight of letters, the minimum for 
 postage in those days being i/- per letter. 
 
 Darlinoton Dietrict BanJ^ing Co, DarUnoton. 
 
 Founded 1831. Passed to York City and County Bank, 1884. 
 
 DARLINGTON appears to have been the first town in the north of 
 England to avail itself of the newly-acquired powers of forming a bank 
 under the Joint Stock Act. Hitherto the private banks had met the 
 requirements of the district. Doubtless the great prosperity that had attended 
 one of these tempted the tradesmen and others to form a bank, the profits of 
 which might be shared by themselves. The earliest public announcement to be 
 found of the formation of this bank is in the Durham Chronicle, September loth, 
 1831. It says : — 
 
 " Darlington Joint Stock Banking Company. Capital £400,000, in 4,000 shares of £100 each. Several 
 gentlemen, merchants, tradesmen, and others interested in the welfare and prosperity of the town of 
 
[2^7^ 
 
 Darlington and the neighbouring districts of the counties of Durham and York, propose to establish a 
 Joint Stock Company, to be called the Darlington District Banking Company, under the authority and 
 agreeably with the provisions of the Act of the 7th George IV. cap. 46. Prospectuses showing the 
 object and advantages of the measure and the principles on which it is proposed to establish and 
 conduct the Bank may be had on application at the office of Messrs. Allison and Nesham, Solicitors, 
 Darlington, who are authorised to receive applications for shares.— Daelington, August 20th, 1831." 
 
 The editor of the paper remarks upon the announcement : — 
 
 " The Joint Stock Banking Co. about to be established in Darlington, Stockton, and the adjoining 
 districts, is in our opinion a most desirable measure. Had banks been thus established before the 
 fatal years of 1815 and 1825, the calamities which in those years fell upon the inhabitants of this 
 country would have been averted, for since the former year no less than five large banking concerns 
 have failed and brought ruin upon thousands." 
 
 It is evident that the Joint Stock plan was expected to be a panacea for all 
 the ills of banking. The next announcement made by the promoters shows their 
 opinion of the stability of such banks. 
 
 At a general meeting of the gentlemen, merchants, tradesmen, and others, who have taken shares in 
 the above company, held at the house of Mr. Scott, the King's Head Inn, Darlington, on Thursday, 
 October 13th, pursuant to order and public advertisement, Warren Maude, Esq., in the Chair, 
 resolutions to the following effect were passed : — That the district affords a wide field for the successful 
 operations of a Bank. That the prosperity of those banks that have been formed upon these principles 
 is notorious. That the idea of shareholders incurring any loss from personal liability in a Joint Stock 
 Banking Company is altogether imaginary. That a Bank can only be ruined by degrees, many years being 
 required for the worst managed bank to lose a large capital, and that no Public Company which has 
 annually to report the result of its management to the general body of Shareholders can possibly bo 
 carried on until it has placed them in danger, the more especially with a provision in the articles of 
 the bank that it shall be dissolved upon the loss of one-fourth part of its capital. It was reported by 
 the solicitors that upwards of 1,500 shares, as required by the prospectus, had already been subscribed 
 for — no individual to hold more than 100 shares or less than five. Deposit of 10/- per share. First 
 call — £4 10s. per share, £5 per share to follow shortly — further calls as the Directors fix, not more 
 than 5 per cent, in any one year. To be managed by seven Directors— two to retire annually — 
 qualification fifty shares— a declaration of secrecy to be signed by each Director. That the Directors 
 shall appoint two of their own body not engaged in business to take the principal management, to be 
 called the Managing Directors — Directors to appoint officers of the Company. The funds of the 
 Company shall not be invested in Foreign Loans, Mining Institutions, or articles of Merchandise. 
 Annual Meeting in January of each year. That if ever the guarantee fund shall be exhausted, and one- 
 fourth of the capital actually paid up be lost, the Directors shall within twenty days call a General 
 Meeting when the Company shall be, ipso facto, dissolved. That the following gentlemen be appointed 
 a committee, of whom five shall form a quorum, with power to arrange for commencing business. The 
 Right Honourable the Earl of Tyrconnel, Kiplin Park ; Warren Maude, Esq., Darlington ; George P. 
 Hutchinson, Esq., Eggleston ; Captain Watts, R.N., Langton Grange ; Frederick Hardmge, Esq., 
 Coatham ; Edward Dale, Esq , Trimdon House ; Robert M. Dinsdale, Esq., Neasham Hall ; Thomas 
 S. Walker, Esq., Mawnby Hall ; Thomas M. Maude, Esq., Sellaby ; Thomas W. Hill, Esq., 
 Startford; Henry Hewgill, Esq., Hornby Grange; Roderick J. Murchison, Esq., London; Henry 
 Allison, Esq., East Layton ; Dr. Keenlyside, Stockton ; Messrs. John Kipling, Richard Hodgson. 
 William Walters, George D. Lightfoot, Humphrey Thompson, of Darlington; William Dighton, 
 Northallerton ; George Maw, Bishop Auckland ; Richard Heppell, Staindrop ; John Park, Stokesley ; 
 
[238j 
 
 Richard Child, Guisborough ; Joseph Waugh, Haughton ; Richard Stamper, Blackwell ; William 
 Sheraton, Beaumont Hill ; W. S. Stowell, Faverdale ; Hugh Gowrie, Kiplin ; John Pothergill, 
 Aiskew. The Committee to meet each Tuesday at the Solicitors' office. That the Committee shall on 
 November 8th appoint Directors for the ensuing year, and fix such remuneration for two or more 
 Directors as they may think fit. That Mr. Charles Barrett be appointed the Manager of the Bank. 
 That Messrs. Allison and Nesham be the Solicitors. That Warren Maude, Esq., be requested to act 
 as Treasurer pro tern., and that the proceedings be printed in the Durham Advertiser, DurJiam 
 Chronicle, York Herald, and Yorkshire Gazette. 
 
 The bank was duly constituted, and for some time did a fair amount of 
 business. Several branches were subsequently opened. In 1836, the agents 
 were — at Barnard Castle, Mr. Barnes ; Northallerton, Mr. Welbeck ; Stockton, 
 Mr. Joseph Byers ; Stokesley, Mr. T. Barr. 
 
 By 1883, branches had been opened at Stockton, Guisborough, Stokesley, Barnard 
 Castle, Leyburn, Hawes, and Northallerton. In June of that year a slight run 
 upon the bank occurred in the Bedale district. It was rumoured that something 
 was not right regarding the bank. Of course exaggerated reports of all kinds were 
 soon abroad, which occasioned some inconvenience, especially at the Hawes and 
 Leyburn branches. When the true story was revealed, it appeared that the 
 district manager was involved in heavy speculations on the Stock Exchange to the 
 extent of ;^2 2,000 ; that a great part of this amount had been borrowed personally 
 from friends and customers of the bank, and that his actual indebtedness to the 
 bank was not very great. The defaulting official was afterwards prosecuted " for 
 
 inducing, by false representations, T C to execute a promissory note for 
 
 ^500." The charge was proved, and a heavy sentence awarded. The late 
 manager was declared bankrupt, and at the first meeting of his creditors at York, 
 proofs were put in for upwards of ;^ 14,000. 
 
 In the autumn of the same year a powerful neighbour, the York City and 
 County Bank, opened negotiations for purchasing the business of the Darlington 
 District Bank. A meeting was held on September 5th. Mr. Yeoman, the 
 chairman of the Darlington Company, presided. Mr. R. Willan, of Darlington, 
 solicitor to the company, read the provisional agreement for sale and purchase. 
 The " York City and County " were to pay ^70,000, and take over all liabilities. 
 " There was, however, reserved by the Darlington shareholders the Merrybent, a 
 mineral railway costing /8o,ooo, but out of use, the company carrying it on having 
 failed, and the Darlington Bank holding a judgment order on the same for 
 ;^20,ooo." By this arrangement the shareholders of the District Bank were put 
 into an excellent position. The whole of the subscribed capital would be 
 returned, and in addition they would divide pro rata the reserve fund, which 
 stood at ^16,167. 
 
[239] 
 
 A formal meeting was held in November, 1884, to wind up the company by- 
 liquidation. A report of the same says that the shareholders 
 
 " have been fortunate enough to realise, with the £1 per share declared at the meeting, £18 per share 
 for each £12 paid. There is still a balance in hand by the company in the shape of the Merrybent 
 Railway, which if fairly sold should make £2 or £3 more per share. Formal resolutions approving of 
 liquidation as a means of settling the affairs of the company were passed, and Mr. John H. Bowman, 
 one of the directors, and Mr. John Williamson, both of Darlington, were appointed joint liquidators." 
 
 As the result of the transfer, the authorised note circulation lapsed ; it was 
 £26,1^^. The business thus procured has been well maintained by the York City 
 and County Bank, the Darhngton branch being under the courteous management 
 of Capt. Leatham. At the time of the transfer the Darlington District Banking 
 Co. had branches at Barnard Castle, Guisborough, Hawes, Leyburn, Northallerton, 
 Stockton, and Stokesley. 
 
 Founded 1788. BANK IN NEWCASTLE. Now Lambton & Co. 
 
 
 
 Partners. 
 
 
 
 Entered the 
 
 Left the 
 
 Entered the 
 
 Left the 
 
 
 Firm. 
 
 Firm. 
 
 
 Firm. 
 
 Firm. 
 
 Thomas Davison-Bland - 
 
 1788 ■ 
 
 1790. 
 
 John Steavenson 
 
 1828 - 
 
 1846. 
 
 David Landell 
 
 1788 - 
 
 1793- 
 
 George Fenwick 
 
 1833 - 
 
 1883. 
 
 Richard Chambers - 
 
 1788 - 
 
 1797. 
 
 John Carr - 
 
 — 
 
 — 
 
 George Hoar, jun. - 
 
 1788 - 
 
 1790. 
 
 George John Fenwick 
 
 1843 - 
 
 — 
 
 William Smoult 
 
 1788 - 
 
 1793- 
 
 Henry Ralph Lambton - 
 
 1844 - 
 
 — 
 
 David Ashworth 
 
 1788 - 
 
 1788. 
 
 Ralph Brown 
 
 1853 - 
 
 — 
 
 William Hoar 
 
 1788 - 
 
 — 
 
 Somerset A . Beaumont 
 
 1859 - 
 
 1863. 
 
 Ralph John Lambton 
 
 1790 - 
 
 1844. 
 
 George Anthony Fenwick - 
 
 1861 - 
 
 — 
 
 Robert Hopper Williamson 
 
 1790 - 
 
 1835 
 
 Thomas Wm. Bulman - 
 
 1861 - 
 
 1879. 
 
 James Pybus 
 
 1794 - 
 
 1828. 
 
 Hugh Fenwick 
 
 1864 - 
 
 1893. 
 
 Thomas Fenwick - 
 
 1795 - 
 
 1852. 
 
 Henry N. Middleton 
 
 1880 - 
 
 — 
 
 Job Bulman • 
 
 1797 - 
 
 1818. 
 
 Mark Fenwick 
 
 1883 - 
 
 — 
 
 — Hodgson - 
 
 1820 - 
 
 182I. 
 
 Gerard Fenwick 
 
 1892 - 
 
 — 
 
 John Anderson, jun. 
 
 1822 - 
 
 1858. 
 
 Ralph Edward Lambton - 
 
 1892 - 
 
 — 
 
 William Henry Lambton 
 
 1824 - 
 
 1867. 
 
 
 
 
 IT often happens that the record of a firm can only be obtained after they have 
 stopped payment, and their affairs, by that means, have become somewhat 
 public. In reviewing the account of this bank, an agreeable change occurs, 
 as in this instance not only is the writer enabled to give some account of the manner 
 in which the establishment has pursued its course from its commencement in 1788 
 
^__ [^40] 
 
 until the present day, but by the kindness of the partners, he has been 
 permitted to inspect the records of the preHminary meetings anterior to the 
 positive opening of the bank. 
 
 The gentlemen who thus formed themselves into co-partnership were : — Thomas 
 Davison-Bland, David Landell, Richard Chambers, George Hoar, jun., William 
 Smoult, and David Ashworth. 
 
 The firm that they had selected as their London agents was Messrs. 
 Masters & Co., who in 1787 opened a bank at 26, Chancery Lane, the partners 
 being Richard Masters, Edward Dawson, George Brooks, John Kirton, and Ralph 
 Clayton. It probably was the connection of the last-named gentleman with the 
 well-known family of Newcastle and the " Chesters," that led to Messrs. Masters 
 becoming the London representatives of the new firm. It was under his assistance 
 and advice " that details for opening the bank were to be conducted." 
 
 A set of books was to be forwarded from London ; other necessary fittings 
 for a bank were to be obtained locally under the directions of Mr. Landell. Notes 
 were to be procured " as near the Old Bank as possible ; " also a plate for notes 
 made payable in London at 35 days' sight. A resolution passed at a preliminary 
 meeting of the partners reads : — 
 
 " The form of the note we at present wish for is to be a large single castle in the frontispiece with the 
 word Newcastle to be wrote above it and upon-Tyne below it, in very small letters and following that, 
 upon the top of the note Bank in Newcastle." 
 
 This rather exceptional title is retained to the present day. Mr. Clayton 
 promised to come dowm for a few days before the opening. The question of that 
 indispensable adjunct to all banks — the clerk — soon had to be considered, when it 
 was resolved that " if the loan of a clerk can be accomplished on liberal terms we 
 prefer that to hiring one at present ; if not, a clerk must be had." Apparently a 
 clerk could not be got " upon loan," so Mr. James Pybus of " Prescott & Co." 
 was appointed, whose salary was to be " quatre-vingt livres sterling." " Mr. 
 Storey's nephew" applied as junior, of whom it is recorded : — "The young man 
 has been modest enough to leave wages to ourselves. He shall not fare the worse 
 for that. He must live on the premises." 
 
 At a meeting of the partners held December, 1787, it was resolved : — 
 
 " To endeavour to form a plan of numbering the notes so as the other banks shall not know how many 
 we issue." 
 
 " It appears prudent to avoid underwriting, lending money on Bottomry, and employing out 
 Agents." 
 
 " To open February 1, 1788." 
 
 " To get 15,000 of the notes with 3d, stamps in London, one thousand 6d., 500 12d., as we have 
 no stamp press in Newcastle." 
 
 " Notes to be issued for £5, £10, and £20. The hours of attendance to be from 10 to 3 o'clock, 
 and the cash accounts to be closed before dinner." 
 
[241] 
 
 The partners' capital appears to have been £2,000 each, to be paid in 
 London — ^5,000 to be left in the hands of the London Agent, and ^9,000 sent to 
 Newcastle in specie. It was proposed that a card be sent to the banks of 
 Newcastle, Durham, Sunderland, Stockton, Darlington, and York, as follows : — 
 
 " Messrs. Bland, Landell, Chambers, G. Hoar, Smoult, and Ashworth present their compliments 
 
 to , and beg to inform them that they have this day opened 
 
 a bank under that title in Newcastle, and will be happy to do business with them upon friendly and 
 liberal terms." 
 
 Their London advisers approved of the " card " being sent to the Newcastle 
 banks, but " think it quite improper to those in the other towns," and write : — 
 
 " You may perhaps at a future period find it necessary with the rest of the Banks in Newcastle to 
 enter into an Association against them, which you could not with any credit do, after offering your 
 services to them in writing." 
 
 Mr. G. Hoar, writing from London, January 2nd, 1788, says : — 
 
 " Mr. Clayton does not recommend sending money by waggon, he having already met with a loss by 
 the waggon being robbed. As I propose bringing my family with me, in case I have a large sum of 
 money with me, I must hire another post-chaise, therefore pray give me your advice and opinion ; also 
 desire Mr. Bland and my brother* to pay Messrs. Masters & Co. £2,000 each when they make a demand 
 for it, which will entirely put it in their power to dispatch me when they please ; but I could wish to 
 diminish the sum I am to carry as much as possible. About the 20th inst. is proposed for me to set 
 out." 
 
 Messrs. Masters & Co. write : — 
 
 " We are collecting the £9,000 in specie, and will have it ready for Mr. Hoar on Monday. By favour 
 at the Bank we have already prepared 7 Bags of £1,000 each, the greater part of which is new gold, 
 and there are some hundreds of half-guineas of the last coinage which we were anxious to procure as 
 we thought they would please many of your female customers. All the gold has been carefully 
 weighed, so that I trust you will not find a light guinea among them, though the friction of travelling 
 may make some slight alteration. We heartily congratulate you on the near approach of your 
 commencement. Mr. B. Clayton, who arrived here yesterday, tells us that your establishment is 
 rather popular at Newcastle, and that you have got the title of the ' Nabobs' Bank.' " 
 
 This title would arise from so many of the partners being directly or indirectly 
 connected with India, then the land in which fortunes were rapidly accumulated. 
 Mr. G. Hoar held a commission under the East India Company. Mr. Smoult had 
 some connection with India, and he was related to Mr. Chambers, whose brother 
 (Sir Robert Chambers) was Chief Judge of Calcutta. 
 
 Mr. Hoar duly arrived with his valuable burden on January 25th. Mr. 
 Chambers, when informing his London friends of the fact, adds : — 
 
 " We are going to open February 1st. Although it is publicly known here, we are happy to find that 
 not a murmur has transpired even among the bankers themselves ; they have all been uncommonly 
 civil to Mr. Landell and myself ever since the report has first been spread abroad." 
 
 * William Hoar, the seventh partner in the bank. (See page 34.) 
 
[243] 
 
 In due time the following advertisement appeared in the Newcastle papers : — 
 
 " 1 Feb., 1788. — Messrs. Bland, Landell, Chambers, G. Hoar, Smoult, & Ashwortb beg leave to inform 
 the Public they have this day opened a BANK under that firm in Pilgrim Street, Newcastle." 
 
 The premises occupied were opposite the end of the High Bridge. 
 
 Mr. Ash worth was to "stand at the till." There is a most suggestive entry- 
 concerning the senior partner, namely — " That as soon as possible a borough shall 
 be purchased for Mr. Bland." 
 
 Letters were wTitten to Sir William Forbes & Co. of Edinburgh, and Mr. 
 Graham of the Thistle Bank, Glasgow, for information as to the exchange of 
 notes, &c., and requesting that they would act as agents in their respective towns. 
 
 On the opening day the London Agents were asked to press forward the 
 plates for the £io and £20 notes, and were informed, " We find that we shall not 
 have much occasion for the optional notes, you will therefore not send any more 
 at present." (See page 4.6.) 
 
 Mr Chambers carried on the correspondence ; letters were written to many 
 influential friends stating the firm's wish to do business with them. 
 
 In reply to one such letter the following was received : — 
 
 " February 4th, 1788. Sir B. Conyers presents his compliments to Messrs. Bland, Chambers, & Co., and 
 begs to inform them that he resolved some years past that he would never have any dealings with any 
 Bank but the Old Bank ; for the same reason he refused the Commercial Bank, yet he very sincerely 
 wishes them success." 
 
 The other banks existing in Newcastle when Bland & Co. started were : — 
 The " Old Bank," Sir Matthew White Ridley & Co. ; the " Exchange," Messrs. 
 Surtees, Burdon, & Co. ; the " Tyne," Messrs. Baker, Loraine, & Co. ; and the 
 "Commercial," Messrs. Forster, Burrell, & Co. They had an association for 
 considering questions of mutual interest and soon met to determine what action 
 they should take towards the new bank. Messrs. Bland wrote to their London 
 Agents, February 4th :— " We have the pleasure to inform you that the Bankers 
 here after having had a general meeting on Saturday last, have agreed to deal with 
 us on amicable terms." 
 
 Procuring tickets in the various lotteries issued by the State was part of the 
 business of the early bankers ; they also as individuals and as firms invested in 
 chances. The day after their opening, Mr. Chambers wrote to London : — 
 
 " We desire the favour of your procuring us the following lottery tickets : — 1 Ticket registered in the 
 name of Mrs. Elizabeth Pye, at Whitburn, near Sunderland ; 1 Ticket in the name of Lieutenant 
 William Bathurst Pye, at Whitburn ; 1 Ticket in the name of George Hoar, jun., at Newcastle ; and 
 1 Ticket in the name of Mrs. George Hoar, jun. The two former you will please send by post, and 
 keep those for Mr. and Mrs. Hoar in your hands, advising us of the numbers and prices of each." 
 
[^43] 
 
 A few years later (after Mr. Bland had left the firm), Mr. Chambers writes to 
 him : — 
 
 " We wrote on the 13th informing you of the fate of ticket No. 28,485. We have this day received 
 advice of the other ticket, No. 28,481, belonging to the late partnership being also drawn a prize of £20 
 and your account will be credited with your proportion of both when in Cash." 
 
 Again on March 6th, 1794, Mr. Chambers writes to Mr. R. J. Lambton : — 
 
 " Deab Sir, — Enclosed are the two lottery tickets you ordered, for which we debit your account 
 £38 12s., the sum charged by Boldero and Co. I heartily wish they may be fortunate. The partner- 
 ship have one in the wheel still." 
 
 Although the existing banks had resolved to deal with the new-comers " on 
 amicable terms " there is little doubt that they soon began to try to "rush " them 
 with their notes, which compelled the new bank to be on its guard by providing 
 specie, or a large number of the notes of the other local banks. Letters were 
 written to several friends in the following strain : — 
 
 " Deab Sib, — We now write to you in confidence, and hope you will be as secret as possible in the 
 business we are about to request you to do for us. You must know that the two Old Banks have for 
 two or three weeks had considerable balances against us which they insisted upon having in specie ; 
 in order therefore to prevent that next week, we enclose you the following bills on London and will 
 be obliged by your endeavouring to procure their notes for them, and send a special messenger with 
 what you collect against Monday evening or early on Tuesday morning, that is to say before 10 o'clock." 
 
 It was customary at that time to appoint agents at various places for the 
 exchange and distribution of the notes. A list of the names of the agents and 
 their remuneration is preserved, but unfortunately the addresses are not given. 
 
 George Wakefield £25 a year. 
 
 John Potter . . . . . . . . . . do. 
 
 Edward Stamp, Alnwick £10 and use of £200. 
 
 Longridge and Bushby £25 and use of £500 on Bond. 
 
 Nicholas Teasdale £25 do. do. 
 
 Caleb Fairless 
 
 Robert Hutton What he deserves. 
 
 Thos. Fishburn 
 
 William Walton 
 
 Thomas Fenwick, Morpeth £30 and use of £300. 
 
 Charles Kingston £10 lOs. 
 
 Matthew Wadeson £10 10s. 
 
 James Elder, Alnwick £25. 
 
 James Wardle £10 and use of £300. 
 
 At first the Collector of Customs declined to accept the notes of the new 
 firm, but the difficulty was overcome by the partners giving a joint bond for 
 
 ;^2,000. 
 
r^44] 
 
 On June 9th, 1788, Thomas Fenwick, son of Mr. George Fenwick of South 
 Hill, entered the bank, he then being 15^ years old ; probably he came for six 
 months on trial, as on December 6th, 1788, it is recorded : — 
 
 " Agreed with Mr. Fenwick for his son's being bound for seven years at £40, £50, and £60, and after 
 that £60 a year if he obtain his freedom, if not, £80 a year for the last four years, his board to be 
 deducted, namely, £20 a year." 
 
 At the close of each year's trading, the ledger was signed by all the partners ; 
 a copy of the signatures affixed in 1790 is given here. 
 
 
 <« 
 
 -y 
 
 
 Illness and death soon made inroads upon the staff. On July 7th, 1789, Mr. 
 Chambers wrote to Mr. Charles Kingston of Kirkleatham (evidently a friend of 
 the partners), "Your nephew, William, who is still very poorly, will go home and 
 wait till he hears from you before he set out." William Kingston entered the 
 service in the previous February for three years at £20, £20, and £-^0 per annum. 
 On October 25th, the death of Mr. Ashworth the junior partner who had to 
 "stand at the till" is recorded. 
 
 One of the early commercial customers of the bank was Thomas Joplin, who 
 then had a Raff Yard at Egypt, Newcastle. (His son afterwards took a prominent 
 part in the establishment of Joint Stock Banks.) An enquiry is made for him 
 regarding a Mr. Beynon who certainly had a curious address, " At the Tippling 
 Philosopher, Liquor Pond Street, Gray's Inn Lane, London." 
 
[245] 
 
 In the days when conveyance of treasure was both difficult and expensive, every 
 opportunity had to be taken to secure the services of personal friends who were 
 going from home. A letter to Berwick states : — " Mrs. Thompson, a relative of our 
 Mr. R. Chambers, who takes the trouble of this letter, with her little nephew is 
 staying a few days at Berwick." The letter contained notes upon the Berwick 
 Banks for £ioo which Mrs. Thompson was to convert into gold and bring back to 
 Newcastle. 
 
 An entry in the books at this time reminds us of the objectionable practice of 
 " Xmas Money " for the clerks, that existed for so many years. 
 
 "To Messrs. the Clerks at Ed. Master, Esq., & Co. Newcastle, 4th March, 1789. 
 
 Gentlemen, — Enclosed are two notes value Ten Guineas of which we beg your acceptance as we 
 understand this is customary at this season of the year." 
 
 At the end of the second year of the partnership considerable alterations 
 occurred. The senior partner, Thomas Davison-Bland, evidently retired, but no 
 reason is given for his so doing. Mr. George Hoar "being called to his appoint- 
 ment under the Honourable East India Company," left the firm and returned to 
 India. The gaps thus made were filled by Ralph John Lambton of Southall, 
 and Robert Hopper Williamson of 4^ JJa / // 
 
 Newcastle, gentlemen representing /o^fjl^lvtvyjr tv \ l//t (X^^yrvyf-YJ 
 two influential families. The former 
 
 was uncle to the first Lord Durham, and brought to the bank the name by which 
 it has been so widely known for more than a century. At this time gold was 
 a scarce commodity, and bankers were not so willing to pay as to receive the 
 precious metal. Mr. Chambers wrote, "We had a balance against Eden & Co. 
 (Old Bank) of ^650 ; they gave us a bill at 10 days without paying the carriage." 
 Mr. Dunn of Durham was evidently a trial to the Newcastle firm. In a letter 
 to Mr. George Fenwick, dated Newcastle, June 23rd, 1790, Mr. Chambers 
 writes : — 
 
 " Mr. Dunn of Durham made a demand upon us to-day for £610 in Gold, and comes every week upon 
 the same errand for considerable sums ; we will be much obliged by the Favour of your com- 
 municating this circumstance to Mr. Tempest who we are certain wou'd not countenance such 
 conduct. If it was for the purpose of making Colliery Payments we wou'd not Complain, but the 
 Money goes out of this neighbourhood to Manchester or some distant Part of the Kingdom. Any 
 means of counteracting this disagreeable Business of Mr. D's. will be very desirable." 
 
 In the early months of 1792 gold was very scarce in Newcastle, so the firm 
 despatched their clerk Joseph Cowing to Edinburgh, to try and procure specie 
 from Sir W. Forbes & Co. A letter dated February 25th, 1792, from the firm to 
 their London Agents explains the situation : — 
 
 " Gentlemen, — In consequence of the enclosed Advertisement by Way of Caution, lest any unusual 
 Demand shou'd happen, we have drawn four Bills upon you this day at Ten Days Date for One 
 
[^46] ^ 
 
 thousand Pounds each, payable to Mr. Joseph Cowing one of our clerks, whom we have sent to 
 Edinburgh as the most speedy means of getting Specie, if he shou'd not succeed the bills will of course 
 be remitted to you and in the mean Time we will be obliged by the Favor of your forwarding Two 
 thousand Pounds of the Money we have already wrote for by the Mail Coach agreeing for the carriage 
 on the lowest Terms you can, and the Eemainder by the first Waggon." 
 
 Changes soon again occurred in the firm. Mr. David Landell died February 
 2nd, 1793, and at the same time Mr. Smoult retired, and requested that his money 
 might be remitted to India, where he proposed staying a few years longer. The 
 vacancies do not appear to have been immediately filled up. 
 
 In the early part of the year great disturbances arose at Shields, Sunderland, 
 and Newcastle, in consequence of the sailors banding together to resist the 
 press-gang. They drove them out of Shields with their "jackets reversed," 
 and vowed that " should they ever attempt to enter Shields, they should be 
 torn limb from limb." Riots occurred in other places. It was, therefore, deemed 
 prudent to remove the stock of notes, both cancelled and new, from the bank to 
 the private residence of Mr. Williamson in Hanover Square. 
 
 " Sent to Mr. Robt, Hopper Williamson, February 13th, 1793 — 
 
 Notes, No. 1, examined to be cancelled as per the burning-book, page 47, £27,975 16 6 
 
 Tin Box No. 2 . . . . . , . . . . . . 20,000 
 
 1 Paper Parcel, No. 8 . . . . . . . . . . 33,225 
 
 Delivered by Joseph Cowing .. .. .. .. £81,200 16 6 
 
 March 4th, 1793, By the above Notes returned . . . . . . £81,200 16 6 
 
 Mem. — The above notes were sent to Mr. Williamson to keep in his possession on account of 
 an alarm of Riot amongst the sailors, and returned to the bank on the day above-named. 
 
 Witness, R. CHAMBERS." 
 
 On March 9th, 1793, Mr. Chambers wrote to Mr. Lambton regarding the 
 annual statement of accounts which had recently been made up, and remarked that 
 it was very satisfactory, adding : — 
 
 " Having a considerable Balance in Masters & Co.'s Hands we have wrote to desire they will purchase 
 
 Ten thousand Pounds Stock for us in the 3 p.c. Consols which Power Mr. Williamson 
 
 thinks shou'd lay by us to be ready upon any emergency. I have the satisfaction to add that we have 
 had no losses during the last Year and that our Circulation keeps its Ground in Spite of the 
 Multiplicity of Banks that are daily creeping in upon us in the neighbourhood. We have also steered 
 clear of any losses by the late Failures amongst the West India Houses in London." (See page 54.) 
 
 For some weeks a panic had prevailed in London and other places, but so far, 
 the Newcastle district had not been affected. Mr. Chambers in a letter written 
 to Mr. R. J. Lambton addressed to Melton-Mowbray on the 20th March, 1793, 
 says : — 
 
 " Notwithstanding some convulsions amongst the Bankers in different parts of the kingdom, we remain 
 quiet and undisturbed here, indeed, with respect to ourselves, we never were better prepared against a 
 
[247] 
 
 run than at present ; we have only 60,000 in circulation and can command Forty Thousand 
 immediately within our reach, the remaining 20,000 being mostly in negotiable bills, might also be 
 converted into money in a few days so that we have nothing to fear." 
 
 This, and the previous letter quoted, are very important, as they show most 
 conclusively the sound condition of the bank up to March 2oth, and the 
 prudence that regulated its transactions. They entirely refute in this instance the 
 charge of reckless trading that had often assailed the country banker. The sequel 
 shows how suddenly the panic storms burst over certain districts in the olden days. 
 Before the month was out, distrust — the banker's worst foe — had reached 
 Newcastle. Every effort had to be put forth to procure gold, both locally and 
 from other parts. Mr. Hall, one of the clerks, was despatched to London to get 
 a supply of specie from Messrs. Masters & Co., who were unable to procure it, 
 and made some paltry excuse regarding the state of the account. On the 6th 
 April, Mr. Chambers wrote to Mr. Hall to the following effect : — " We hope 
 you are not still in London, but if you are, try and bring ;^4,ooo with you 
 immediately, or all you can get." Things grew desperate ; all the banks in the 
 town and district were pressed ; gold must be procured or the doors closed. 
 Mr. Hopper WiUiamson posted up to London to see what he could do ; only to 
 find Mr. Lambton was there before him. While they were away, the Newcastle 
 traders had to take up the question. On April 8th, a meeting was held in 
 the Merchants' Court " to take into consideration the propriety of giving, at this 
 juncture, every possible support to public credit, and to the commercial engagements 
 of this part of the country." Resolutions were passed which stated that four of 
 the banks (of which Messrs. Lambton's was one) " are entitled to the confidence 
 of the public in the fullest extent," and that those present would accept their notes. 
 On the 9th, the four banks — Ridley's, Surtees', Baker's, and Lambton's (the 
 "Commercial," Messrs. Burrell, Rankin, & Co., being omitted), issued a joint notice 
 asking the indulgence of the public for a short interval for the purpose of 
 supplying themselves with such additional funds as the present extraordinary 
 demands make necessary. A public meeting was held in Newcastle on the next 
 day, when about a quarter of a million sterling was guaranteed to be paid to the 
 Mayor on demand, to uphold the public credit. Meetings were also held in the 
 local towns. In the meantime, all the banks had to suspend payment ; Saturday, 
 April 2oth, being the day mutually agreed upon when they would resume business. 
 (For account of the panic see page 48). There is no doubt that Messrs. Lambton 
 could have paid cash sooner, but they acted in concert with the other banks. 
 A letter to their London Agent, April 13th, (Saturday) proves this, and shows 
 what two of the partners were doing in London while meetings were being held in 
 the north. 
 
[^48j 
 
 " To Messrs. Masters & Co., Gentlemen, — Mr. Williamson left this place on Tuesday morning last 
 (April 8th) intending to call upon you, but finding Mr. Ralph Lambton ready to set out for Newcastle 
 with a considerable supply of money, he returned immediately with him after staying a few hours in 
 London, and arrived here this morning. We doubt not you have heard of the disagreeable 
 circumstances the four banks here at present labour under, and we have the pleasure to assure you 
 the popular alarm appears to be in a great measure subsided, so that in a few days we hope everything 
 will go on as before." 
 
 The banks re-opened on April 20th, the " Commercial " declining to continue 
 banking, but subsequently paying all its notes with interest. In a short time 
 public confidence was regained, and Messrs. Lambton's business went on as usual. 
 The difficulty of procuring gold from Messrs. Masters & Co. probably led to 
 a change of the London Agent, for very soon afterwards, the account was transferred 
 to Messrs. Boldero, Adey, Lushington, & Boldero. 
 
 In the July following the panic, the proprietors of the Tyne Bank made 
 overtures to Messrs. Lambton & Co. for the amalgamation of the two firms, the 
 following reply showing the result : — 
 
 "Newcastle, July 11th, 1793. 
 " To George Baker, Esq., and Robert Newton Lynn, Esq. 
 " Gentlemen, — We have considered your proposal for a union of our interests in the Banking concerns, 
 but being apprehensive that under the present circumstances of the country any change might be 
 attended with inconvenience, we feel ourselves on that account induced to decline your obliging and 
 friendly offer." 
 
 In 1 794, Mr. James Pybus became a partner. Doubtless he was the gentleman 
 who came from Prescott & Sons as clerk, at the formation of the bank. From a 
 letter written by him to Mr. Boyd in 1828, we have procured some of the 
 particulars regarding the bank. In 1795, at the termination of his apprenticeship, 
 Mr. Thomas Fenwick entered the partnership. On the ist February, 1797, Mr. 
 Job Bulman joined the firm, which became Lambton, Bulman, Chambers, Fenwick, 
 and Pybus. 
 
 Before the end of the month named, gold again became very scarce. On 
 February 20th, the banks unitedly issued a notice stating that they were taking 
 immediate steps to procure specie. On the same day a public meeting was held 
 at Turner's Inn (one of the noted Coffee Houses on the Sandhill), when 
 resolutions in support of the banks were passed. On Saturday the bankers held a 
 meeting at which they resolved, that if the demand for gold continued on the 
 Monday morning, they would all suspend payment until it could be obtained. 
 This course they had to adopt. It must be remembered that so scarce was gold 
 at this time, that " by order of council " the Directors of the Bank of England 
 were prohibited from giving cash for their notes. The local banks soon resumed 
 their payments.* 
 
 * For panic of 1797, see page 63. 
 
[^49] 
 
 After the panic, the Newcastle banks evidently took some united action 
 regarding the distribution of their notes. Messrs. Lambton wrote in May to Mr. 
 E. Blackbird, one of their agents : — 
 
 " From an arrangement lately made by the different Banks here, it has become unnecessary for them 
 to trouble any of their friends to circulate their paper in the way of exchange for other notes. We 
 shall not therefore have occasion to avail ourselves of your good offices in that respect in future." 
 
 Soon after the panic, Mr. Chambers became involved in commercial 
 difficulties, and ultimately (in 1803) came to the bankruptcy court. In August, 
 1797, he severed his connection with the bank, being the last of the original 
 partners. In the local papers appeared the following : — 
 
 " Bank in Newcastle. R. J. Lambton & Co. respectfully inform their friends and the Public that 
 the Banking business lately carried on under the Firm of R. J. Lambton, J. Bulman, Chambers & Co., 
 will, in future, be conducted under the firm of R. J. Lambton, J. Bulman & Co." 
 Newcastle, 21st August, 1797. 
 
 In June, 1803, another commercial panic occurred in the north, when the 
 programme of guaranteeing the notes was again carried through. On this occasion 
 the old established bank of Surtees, Burdon, & Co. had to relinquish the race, and 
 subsequently became bankrupt. 
 
 Early in the century, Messrs. Lambton removed from Pilgrim Street to 
 premises on the west side of Dean Street, situated a little above the present 
 railway arch. The site is marked No. 188 on Oliver's Map, and is now numbered 
 52, Dean Street. 
 
 Again in 1815, July 22nd, it became necessary to guarantee the notes of the 
 Newcastle bankers. A meeting was held in Foster's Long Room in Pilgrim 
 Street, at which Ridley's, Loraine's, Lambton's, and Reed's notes were guaranteed. 
 
 In the same month (July 24th) of the following year, it was once more 
 necessary to support the local notes by public declarations proclaimed as in former 
 times. On this occasion the townspeople were greatly astonished by Sir Charles 
 Loraine & Co. stating that they were declining the banking business. It can well 
 be imagined that the work of the surviving banks was augmented by the constant 
 disappearance of their rivals. In 1821 Messrs. Reed, Batson, & Co. found their 
 way to the bankruptcy court, which gave another influx of business to Messrs. 
 Lambton. 
 
 In 1836 the mania for Joint Stock Banks seized even Messrs. Lambton & Co. 
 In June of that year they issued a prospectus, proposing to form a Joint Stock 
 Bank to be entitled, " The Lambton Banking Company." The popular opinion 
 has hitherto been that the prospectus was drawn up but never issued. Such, 
 however, was not the case, as the copy here given passed through the post. 
 
[250] 
 
 PEOPOSAL 
 
 FOR A 
 
 JOINT STOCK BANK, 
 
 IN NEWCASTLE-UPON-TYNE, 
 TO BE CALLED 
 
 THE LAMBTON BANKING COMPANY. 
 
 That the Banking Company be formed upon the basis of the private Bank of Messrs. 
 
 R. J. I/AMBTON AND CO. 
 
 That the Capital be £1,000,000, and be divided into 20,000 Shares of £60 each. 
 
 That each of the Partners in the Firm of Messrs. R. J. Lambton and Co. shall 
 become a Shareholder, and shall be entitled to hold 300 Shares. 
 
 That the requisite numbers of Shares shall be appropriated for the Customers of the 
 present Firm, and the rest for the Public. 
 
 That a Premium of £2 10s. per Share be paid to Messrs. R. J. Lambton and Co. as a 
 compensation to them for relinquishing their business in favour of the nev? Banking Company. 
 
 That the necessary arrangements until the appointment of Directors, shall be intrusted 
 to a Provisional Committee, to consist of the Partners of the Firm of Messrs. R. J. Lambton 
 AND Co., and such six Gentlemen as they shall choose out of the applicants for Shares ; and 
 the allotment of the Shares shall be made by a Committee to be chosen at a General 
 Meeting of the Applicants to be called by the Provisional Committee. 
 
 That the Premium, and £10 per Cent, on each Share, shall on the allotment of the 
 Shares, or within ten days after, be deposited in the Bank of Messrs. R. J. Lambton and Co. : 
 the £10 per Cent, to be paid over by them to the new Banking Company immediately upon 
 the opening of the Establishment, which will take place on the 1st August next ; and the 
 remainder of the Capital, or such part thereof, as the Directors shall think necessary, shall be 
 paid up at such times as they shall appoint ; of which times three months' notice shall be 
 given. 
 
 That no person, except as aforesaid, shall be entitled to hold more than 150 Shares, nor 
 less than five Shares. 
 
 That the qualification for a Director shall be 100 Shares. 
 
 That no Shares shall be sold or transferred before the end of the first year of the 
 Co-partnership ; and that any Shareholder desirous of disposing of his Shares, shall first offer 
 them to the Company, at such price as shall be fixed by the Directors as the then general 
 value of Shares. 
 
 That the three present Managing Partners of the Bank of Messrs. R. J. Lambton and Co. 
 shall be appointed Managers of the new Banking Company, subject to the superintendence 
 of, and with such salaries as shall be fixed by the Directors. 
 
 That a general Meeting of the Shareholders shall be held in Newcastle-upon-Tyne, at 
 such time and place as the Provisional Committee shall appoint, for the purpose of choosing 
 Directors. 
 
 That there shall be seven Directors, three of whom shall retire annually, but shall be 
 capable of being re-elected. 
 
 That the Directors shall annually appoint three Shareholders, not being Directors, to 
 audit and certify the accounts to be produced at an Annual Meeting of the Shareholders. 
 
 That at all General Meetings, the Proprietors shall be entitled to vote in respect of their 
 Shares as follows ; that is to say, for Five Shares, One Vote ; Fifteen Shares, Two Votes ; 
 Thirty Shares, Three Votes ; Fifty Shares, Four Votes ; One Hundred Shares, Five Votes ; 
 One Hundred and Fifty Shares, Six Votes. 
 
 That the sale, or transfer of every Share, shall be evidenced by some instrument in 
 Writing, and no Person shall be a Partner by reason thereof, until such instrument be 
 produced to the Directors, and entered in a Book to be kept for that purpose. 
 
 That persons to whom Shares are allotted neglecting to pay the Premium and their 
 proportion of Capital within one month after the time appointed for the payment thereof, 
 shall forfeit their Shares. 
 
 That Shareholders be allowed to vote by a written Proxy, such Proxy to be held by a 
 Shareholder. 
 
 _ That a deed of Co-partnership be prepared on the basis of this proposal, which shall also 
 contain all such other provisions as may be necessary for effectuating the object of the 
 Company. 
 
[251] 
 
 Newcastle, nth jfime, 1836. 
 
 WE beg leave to acquaint you, that we have detevmined, in consequence 
 of the strong feeling expressed by the Public in favour of Joint Stock Banking 
 Companies, to offer to our Friends a participation in our Establishment. 
 
 Agreeably to this determination, we take the liberty of handing to you a 
 copy of our Proposal, and should you be desirous of becoming a Shareholder, we 
 request you will, at your earliest convenience, inform us how many Shares you 
 wish to have allotted to you. 
 
 Should you require any further explanation, we shall be most happy to 
 afford it to you ; and remain, 
 
 Vi_^ 
 
 Yours very obediently. 
 
 The circulars issued were almost immediately recalled, and the project given 
 
 up. 
 
[^5^] 
 
 I am informed upon most reliable authority that the withdrawal of the circular 
 and the abandonment of the scheme were due to Mr. John Abbott of Gateshead. 
 He always had large sums of money on deposit with Messrs. Lambton & Co., and 
 he was so strongly in favour of their remaining a private bank, that he induced 
 them to accede to his request. 
 
 In September, 1840, the proprietors of the bank decided to accept the offer 
 made by the Bank of England to all country bankers, to relinquish the issue of 
 their own notes, and upon a commission of 7/- per cent, issue only the notes of 
 the Bank of England. A local paper records, 
 
 " This month (September, 1840) the old and highly respectable banking house of Lambton & Co,, 
 Newcastle, made arrangements to withdraw their own notes from circulation, and to issue no paper 
 but that of the Bank of England." 
 
 jtwiyw"." 1 < . ^ 1 1 
 
 7^.94^ \%inliTii")tcturaoffe 
 
 '/zwi/ 
 
 \Hn 
 
 The year 1857 saw another bank crash in Newcastle. In December of that 
 year the Northumberland and Durham District Bank closed its doors. Being by 
 far the largest house in the north, its suspension naturally caused its numerous 
 customers to seek special accommodation from the other establishments in the 
 town, and many found welcome and generous assistance from Messrs. 
 Lambton & Co. Overtures were afterwards made to obtain the very handsome 
 premises occupied by the District Bank, in Grey Street. A removal thither was 
 soon after effected, and here Messrs. Lambton have since continued to carry on 
 their extensive business. 
 
 From time to time branches have been established at most of the commercial 
 centres in the vicinity, so that they now cover the principal business ground of the 
 
fll>c69r0. Xambton S, Co, 
 
 Partners in 1894. 
 
 •^ ^ 
 
 
 ^^«'^^^^-^^^^^<^^'^' 
 
 R. E RUDDOCK, 
 
 Keweastle-oii-Tyiie. 
 
 Henry N. Middleton. Ralph Brown. Mark Fenwick. 
 
 George John Fenwick. Henry Ralph Lambton. 
 Ralph E. Lambton. George A. Fenwick. Gerard Fenwick. 
 

[^53] 
 
 district. The centenary of the bank on February ist, 1888, was celebrated by a 
 bonus of 10 per cent, on their salaries being presented to the whole of the staff. A 
 banquet was held in the Assembly Rooms, Newcastle, Mr. Henry Ralph Lambton, 
 the senior partner, being in the chair. Representatives were present of most of 
 the old partners and the other banking establishments of the district. 
 
 A few years since, the firm adopted the practice of issuing an annual balance 
 sheet, certified by a chartered accountant. The statement for 1893 will show the 
 very extensive business now carried on by the firm. 
 
 LAMBTON & CO., Newcastle-upon-Tyne, Balance-sheet, 31st December, 1893. 
 Dr. 
 Current, deposit and other accounts . . . . . . . . . . £3,067,103 19 8 
 
 Acceptances . . . . . . . . . . . . . . 15,344 
 
 Liabilities to the pubUc .. .. .. .. .. .. £3,082,447 19 8 
 
 Partners' capital, reserve, and current account . . . . . . 702,122 12 8 
 
 £3,784,570 12 4 
 
 Cr. 
 
 Investments :— £375,000 2| consols at 95, £356,250 ; £125,000 2^ consols at 
 93, £116,250 ; £27,500 exchequer bills, £27,500— £500,000 ; securities 
 of, or guaranteed by the Governments of India and British colonies, 
 English municipal corporation stock, and debenture, preference and 
 ordinary stocks of English railways, £973,565 19s. Id. ; other 
 investments, £82,615 16s. 7d. . . 
 
 Cash at head office and branches, £165,502 13s. Od. ; cash with Bank 
 of England, Messrs. Barclay & Co., and other banks, £208,526 17s. lid.; 
 cash with London bill brokers at call and seven days' notice, £251,277 
 12s. 3d. 
 
 Advances to customers and bills discounted . . 
 
 Acceptances for customers against security, per contra 
 
 Freehold bank premises, head office and branches 
 
 THOMAS DAVISON-BLAND. The personal history of the eariy partners 
 is remarkably complicated, and from the important part that they or their 
 immediate relatives played in the history of the times, highly interesting. Their 
 relationships have been very difficult to unravel, and the exceptional frequency of 
 a change of family name has added to the task. The accompanying sheet, in 
 pedigree form, will best show the connection of many of the founders of the firm, 
 but fuller explanation is desirable. 
 
 Sir Alexander Davison, a merchant of Newcastle, and his son, Joseph, were 
 killed upon the walls of Newcastle, when gallantly defending the town against the 
 Scots, at the memorable siege in October, 1 644, Sir Alexander being then in his 
 
 £1,556,181 15 
 
 8 
 
 625,307 8 
 
 1,521,074 6 
 
 15,344 
 
 66,663 6 
 
 2 
 
 10 
 
 8 
 
 £3,784,570 12 
 
 4 
 
[254] 
 
 8oth year. (For a fuller account see " Men of Mark/' by Richard Welford.) At 
 the time of his death, he was owner of the Blakiston estates, co. Durham. His son 
 Thomas married Elizabeth, daughter of William Lambton, of Lambton, and the 
 grandson of this union married for his first wife — Ann, daughter of Sir John Bland 
 of Kippax Park, co. York. Their son married Martha, daughter of William Hoar 
 of Limehouse, who inherited an estate in Middlesex. Thomas, the eldest son of 
 this marriage, born January 8th, 1744-5, was devisee of Miss Bland of Kippax 
 Park, and added her name to his own, and so became Thomas Davison-Bland, by 
 royal license dated at Whitehall, July 3rd, 1786, viz : — 
 
 " The King has been pleased to grant to Thomas Davison of Blakiston, in the county of Durham, Esq., 
 His Eoyal License and Authority that he and his issue may assume and take the Surname of Bland, 
 and also bear the arms of Bland, pursuant to the Will of Anne Bland, late of Kippax Park, in the 
 county of York, Spinster, deceased, such arms being first duly exemplified according to the Laws of 
 Arms, and recorded in the Herald's Office ; and also to order that His Majesty's Concession and 
 Declaration be registered in the College of Arms." 
 
 Mr. Bland removed to Kippax Park, and became senior partner in the bank 
 under consideration (being first cousin to two of his partners — George and Wilham 
 Hoar). In April 1776, he married Anne, youngest of the three daughters and 
 co-heirs of Godfrey Meynell, Esq., of Yeldersley, co. Derby. The birth of one of 
 his children is announced thus : — ''On Tuesday se'night the lady of Thomas Davison- 
 Bland was safely delivered of a daughter at his seat, Kippax, Yorkshire." He died 
 April 27th, 1794, but appears to have previously retired from the bank. The 
 Blakiston property was subsequently sold to William Russell, Esq., of Brancepeth, 
 banker (Russell, Allan, and Wade). In Neal's " Views of Gentlemen's Seats," 
 No. 53 is an engraving of Kippax Mansion. 
 
 It is a curious coincidence that at the same time that Messrs. Bland & Hoar 
 were partners in the Newcastle bank, the same names appear in the well-known 
 London banking firm of Barnett, Hoare, & Co. From " A History of the Ancient 
 Family of Bland," by Nicholas Carlisle, pubhshed in 1825, we find that the London 
 bankers were the Blands of Maidwell, co. Northampton. John Bland was of 
 Lombard Street, Goldsmith and Banker, and of Tottenham. His will is dated 
 January 6th, 1764, and was proved May 2nd, 1765. " The family appear to have 
 possessed the Religious Tenets of the Quakers, and whose calm and uniform Life, 
 is distmguished for Charity, Humanity, and General Benevolence." John Bland's 
 son. Stamper Bland, was a member of the London firm ; he was twice married but 
 died without issue in the life-time of his father. John, the third son of John Bland, 
 also joined the firm, and was of North End, Hampstead. He died very suddenly 
 on October 21st, 1878, aged 65. He married Margaret Bland, daughter of Michael 
 and Patience Bland of Bucklesbury. He left one daughter, Priscilla, who married 
 
[255] 
 
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 George 
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 Lodge, 
 Hants, 
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 inNewc 
 1788. 
 1754. 
 
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[256] 
 
 Charles Hanbury, Esq., of Halstead, Essex. No actual relationship is shown 
 between the two banking families of Bland, but the writer of the family history 
 considers that they came from a common ancestor. 
 
 George Hoar, the father of the partners in the bank (son of William Hoar of 
 Limehouse), was Deputy-Keeper (another account says Keeper) of the Jewels at 
 
 the Tower. Through 
 the courtesy of Sir 
 Michael Biddulph, 
 search has been made 
 for the date of his 
 appointment, but no 
 information can be ob- 
 tained regarding it, or 
 from whom he received 
 his position. His con- 
 nection with the North 
 appears to have arisen 
 from his marriage with 
 Frances, daughter of 
 William Sleigh of Stock- 
 ton. She died January 
 24th, 1 76 1, aged 31, 
 and was buried in 
 Stockton church, where 
 there is a monument to 
 her memory, a drawing 
 of which has been 
 The arms are Hoar 
 
 (INSCRIPTION.) 
 
 Sacred to the memory of Frances, the wife of George Hoar, Esq., and 
 daughter of William Sleigh, Esq., of this place, who, in the short space 
 of 31 years, graced a most amiable person with every virtue which can 
 adorn the longest life and procure esteem on earth, and finished her 
 course (Alas ! too early for our wishes) on the 24th January, 1761. 
 [Followed by 8 lines of verse.] 
 
 kindly supplied by the Vicar, the Rev. Henry Martin 
 impaling Sleigh. 
 
 The issue of this marriage was four sons, all of whom attained some celebrity, 
 and two of whom were partners in the bank. 
 
 I. WILLIAM HOAR — the seventh partner in the bank — born 1750, 
 Barrister-at-Law of the Middle Temple. He resided at Durham in 1788, and was 
 interested in some lead mines there. In 1806, he was appointed Recorder of 
 Durham, on the resignation of Sir Frederick N. Eden, Bart. Some little time 
 after the death of his brother Charles, in 18 10, he assumed the surname of 
 Harland. He resided for many years in the North Bailey, Durham, in the house 
 now occupied by John Fawcett, Esq. His death is announced in the Durham 
 
[2Sl] 
 
 Advertiser of November 22nd, 1833, ^s follows : — " In this City at his residence 
 in the Bailey on Saturday last, aged ^^, Wni. Harland, Esq., brother of the late 
 Sir Charles Hoar Harland, Bart., and father of William Charles Harland, Esq., one 
 of the representatives of this City in Parliament." He was buried in Durham 
 Cathedral. In the north transept a monument was erected to his memory, 
 bearing the following : — 
 
 " Sacred to the memory of William Harland, Esq., who died on the 16th November, 1833, aged 83 : 
 This monument is erected by his Widow and Children as a memorial of their affection and testimony 
 of his many virtues. Near this spot and in the same vault are deposited the remains of Anne, the 
 wife of William Harland, Esq,, who died the 16th day of January, 1842, aged 82." 
 
 Although Mr. Hoar assumed the name of Harland, he was known in Durham 
 to the majority of people as " Lawyer Hoar " until his death. There are a few- 
 gentlemen still residing in Durham who personally knew Mr. Hoar. His son, 
 William Charles Harland was returned for Durham, 1832, 1835, ^^id 1837. He 
 died at Sutton Hall, Yorkshire, March loth, 1863, aged 60. He married a sister 
 of the late R. D. Shafto of Whitworth, near Durham. 
 
 2. GEORGE HOAR, bom in 1754. In his youth he held a commission 
 in the service of the East India Company. He was afterwards an active partner 
 in Bland, Hoar, & Co., as will be seen in the account of the firm. He was then 
 of Twyford Lodge, near Winchester, co. Hants. After a further residence of some 
 years in India, he returned to England, and resided at Twyford. The amis borne 
 by the Twyford family were " Quarterly sable and gules over all eagle displayed 
 with two heads, argent within a bordure invecked counter changed." 
 
 " Crest. Eagle's head erased argent charged with three Ermine Spots 
 pendent from beak an amulet." 
 
 In the pedigree of the Hoare family by Edward Hoare, late Captain of the 
 North Cork Rifles, no mention is made of the Twyford family, though the writer 
 states that the family name has been variously spelled. In his notes at the end of 
 the book he writes : — " The Armorial Bearings of the family of Hore of Risdon, in 
 Devonshire, were sable, an eagle displayed with two necks, within a bordure 
 engrailed, argent. However, on the 17th of December, 1776, Henry Hoare, Esq., 
 of Stourhead, in the county of Wilts., had his Armorial Bearings exemplified and 
 registered in the College of Arms, London, and an addition was then made thereto 
 of an ermine spot to both the arms and the crest. No members of the family 
 should bear the ermine spot on either the arms or the crest except those 
 directly descended from the second Sir Richard Hoare, Knight, Lord Mayor of 
 London in 1745, to whose descendants alone this grant extended." The coat 
 of arms depicted at Stockton in 1761, and the amis borne by the Twyford branch, 
 
[258] 
 
 point strongly to the family being of the same ancestry as Sir Richard Hoare, 
 Knight, Lord Mayor of London in 1745. 
 
 The similarity of the arms here produced, and those affixed to the tablet 
 in Stockton Church, further point to a relationship between the families. 
 
 Mr. Hoar died at Twyford Lodge, 
 and was buried in the church there. 
 Upon a memorial tablet fixed on the 
 wall of the vestry of that church is the 
 following : — " Sacred to the memory of 
 George Hoar^ Esq., of Twyford Lodge, 
 who died on the ist of April, 1 831, in the 
 78th year of his age, and lies buried in 
 the same vault with his brother, Rear- 
 Admiral Sir Thomas Bertie, near to this 
 place. Also of Ann Russell Hoar, 
 relict of George Hoar, Esq., who died 
 February 5th, 1839, aged 76 years." 
 
 3. Charles, the third son of George 
 Hoar, married Ann, daughter of Philip 
 Harland of Sutton Hall. He assumed the 
 name of Harland, was created a Baronet 
 in 1808, and died without issue in 18 10. 
 
 4. Thomas, the youngest son, born at Stockton, July 3rd, 1758, married 
 Dorothy, daughter of Peregrine Bertie, Esq., of Low Layton, Essex. He entered 
 the navy, and commenced active service in October, 1773, on board the Seahorse, 
 in which vessel he had for his messmates. Nelson and Trowbridge, with whom an 
 intimate friendship was formed, which lasted through life. He greatly distinguished 
 himself in numerous engagements, and rose through various grades until May 
 28th, 1825, when he attained the rank of Admiral. He assumed the name of 
 Bertie, and was well-known as Admiral Sir Thomas Bertie. He died at Twyford 
 Hall, the residence of his brother. Upon a tablet on the wall of Twyford Church, 
 near the vestry door, is the following : — " Sacred to the memory of Sir Thomas 
 Bertie, Admiral of the Blue, who died June 14, 1825. In early life he was the 
 comrade of Nelson and Trowbridge, and proved himself not unworthy of having 
 been the associate of these great men. He was greatly distinguished in the hard- 
 fought battle of Copenhagen. And after a service of upwards of fifty years in 
 every quarter of the globe, by which his health was materially impaired, he 
 
[^59] 
 
 breathed his last in the house of his brother George Hoar, Esq., of Twyford Lodge, 
 regretted as a brave, upright, and honourable man, and dying in the firm and 
 confident hope of a blessed Resurrection." A plain flat stone, situated on one of 
 the paths leading to the south entrance door bears the following inscription, now 
 almost illegible from age, wear, &c. : — " Here lies the remains of Sir Thomas 
 Bertie, Admiral of the Blue, who departed this life June 14th, 1825, aged 66 years. 
 Also of his brother George Hoar, Esq., of Twyford Lodge, who departed this life 
 April ist, 1 83 1, aged 78 years. And of Ann Russel Hoar, relict of George 
 Hoar, Esq., who departed this life February 5th, 1839, aged 76 years." 
 
 Thus we see that three of the four sons of George Hoar, assumed other 
 surnames. 
 
 RICHARD CHAMBERS.— The second of three sons of Robert Chambers, 
 a solicitor of Newcastle. He was a free brother of the Saddlers' Company, and 
 prior to the commencement of the bank was engaged in many businesses. On 
 February 2nd, 1760, he entered into partnership with Gabriel Hall, Saddler, and 
 Roger Heron, Hardwareman, of Newcastle, for the buying and selling of 
 hardware and other goods during seven years. The capital was ;^6,ooo, in 
 proportions of ^2,000 or ^ share to each. The business was to be carried on at 
 the shop and warehouse in Newcastle then occupied by Hall and Heron. In 
 another partnership deed, dated June 3rd, 1763, Gabriel Hall, Saddler ; Thomas 
 Swinhoe, Skinner and Glover ; Roger Heron, Hardwareman ; Richard Chambers, 
 Hardwareman ; John Thompson, Gentleman ; and Hannah Weatherley, Spinster, 
 all of Newcastle, agree to become partners in the trade of dressing sheep, deer, 
 and other skins into oil leather for seven years. The capital was /i,2oo, 
 contributed in the following proportions : — Gabriel Hall, ;^45o, or | ; Thomas 
 Swinhoe, ;^3oo, or |; and the other partners £iso, or ^ each ; business to be 
 carried on at the house and yard in Pilgrim Street, and the house and mill on 
 Beamish Burn, where a like trade had been carried on by Gabriel Hall & Co. 
 Richard Chambers was also partner with Mr. David Landell in the hardware 
 trade. In December, 1784, he was appointed Sheriff of Newcastle, and in May, 
 ^795) was created an Alderman under very peculiar circumstances, five gentlemen 
 (many of them bankers) having preferred to decline the honour, and accept the 
 penalty inflicted (namely, a fine of two hundred marks — ^133 6s. 8d.) rather than 
 wear the Aldermanic gown. '' The next year his affairs became embarrassed. His 
 partnership in the bank was dissolved, insolvency followed, and heavy losses were 
 incurred by numbers of industrious persons. After the failure, he went to 
 London, started business afresh, and there he died December 23rd, 1806, aged 
 sixty-eight." 
 
[26o] 
 
 It was probably through his brothers, Robert and WiHiam, that he became 
 intimate with so many gentlemen that were or had been connected with India. 
 Robert, his elder brother, became Sir Robert Chambers, Judge in the Supreme 
 Court of Judicature in Bengal. He married the beautiful Miss Wilton, only 
 daughter of Joseph Wilton, R.A. Sir Robert was a great linguist, and when at 
 Oxford numbered Burke, Goldsmith, Johnson, and Garrick amongst his intimate 
 friends. He was the actor in the story of the snails told by Lord Eldon. 
 " I had a walk in New Inn Hall Garden with Dr. Johnson, Sir Robert Chambers, 
 and some other gentlemen. Sir Robert was gathering snails, and throwing them 
 over the wall into his neighbour's garden. The doctor reproached him very 
 roughly, and stated to him that this was unmannerly and unneighbourly. ' Sir,' 
 said Sir Robert, ' my neighbour is a Dissenter.' ' Oh ! ' said the doctor, ' if so, 
 Chambers, toss away, toss away, as hard as you can ! ' " " William Chambers was 
 a celebrated linguist, and acted as interpreter in his brother's court." 
 
 WILLIAM SMOULT was a relative of Chambers. He appears to have 
 resided in India while he was a partner in the bank. " His abilities gained him 
 distinction, and he was employed in some important undertakings. He was one 
 of the founders of the Asiatic Society, and a paper of his, entitled, ' Remarks made 
 during a voyage and journey from Bengal to Alexandria, by way of the Red Sea, 
 the Isthmus of Suez, the Monastery of Mount Sinai, Grand Cairo, &c.,' was read 
 before the Literary Society of Newcastle in 1824 — twenty-eight years after his 
 death." St. George's Chapel in St. Nicholas' Church, Newcastle, contains a 
 tablet to his memory, bearing the following inscription : — "Sacred to the Memory 
 of William Smoult, Esq., a worthy native of this town, who after a long residence in 
 Bengal, returned with Health much impaired in the year 1794, and died here on 
 nth Day of February in the year of our Lord 1796, in the 39th year of his Age. 
 He was a man of strict Integrity and amiable Manners whose loss was much 
 regretted by Many but most lamented by his afflicted Widow who caused this 
 Monument to be erected." 
 
 Of DAVID LANDELL and DAVID ASHWORTH I have no information. 
 
 The various members of the Lambton and Fenwick families who have been 
 partners in the firm are enumerated on the first page of the account of this 
 bank. Their personal history is so easily obtained from other sources, that it 
 is unnecessary to reproduce it here. 
 
 ROBERT HOPPER WILLIAMSON was descended from the family of 
 Hopper of the County Palatine. He married the heiress of Dr. Williamson of 
 Whickham and assumed that name in addition to his own. He was a 
 
[26l] 
 
 PAST PARTNERS. 
 
 George Fenwich. 
 Thomas W. Bulman. 
 
 Ralph John Lambton. 
 Thomas Fenwich. 
 
 jfoh Bulman. 
 Hugh Fenwich, 
 
[262j 
 
 barrister-at-law, and was elected Recorder of Newcastle-upon-Tyne in 1794, 
 which appointment he resigned in 1829. In 1819, Bishop Barrington appointed 
 him his temporal chancellor of Durham. He practised as a chamber counsel for 
 many years,his opinions being held in the highest esteem. He died at his residence 
 in Clavering Place, Newcastle, January 13th, 1835, in the 8ist year of his age, 
 and was interred at Whickham. A monument to his memory was erected in St. 
 Nicholas' Church, Newcastle. 
 
 JOB BULMAN, "a medical man who returned to England, after a prosperous 
 career in India, with a professional friend who had been medical adviser to the 
 Nabob of Arcot. His friend purchased land near Cramlington, and erected Arcot 
 Hall. Mr. Bulman bought land at Gosforth, and built Coxlodge Hall." Some of 
 the land was afterwards sold for building sites. The houses erected there were at 
 first locally known as "The Buildings" until "about the year 1830, when the 
 builder, Mr. Robson of Wideopen, by direction of Mr. Cuthbert Burnup of 
 Newcastle, cut the words " Bulman Village " on the house at the south-west 
 corner of North Cross Street. The intention evidently was to compliment the 
 landowner, Mr. Bulman, and hand down his name to posterity. From that date, 
 Bulman Village became the name of the locality, and, as we know, continued so 
 to be until 1872, when the Government, in settling the boundaries of the Local 
 Board district, refused to recognise it."* Mr. Bulman died February, 18 18, his 
 property passing to his son. Job James Bulman. In 1832, Coxlodge Hall, and 
 about 30 acres of land were sold to Mr. JOHN ANDERSON, a partner in the same 
 bank, for ^7,225. Mr. Anderson died in 1859. 
 
 THOMAS WILLIAM BULMAN, son of Job James, became a partner in the 
 bank in 186 1. He married Jane Anne, daughter of Wm. Isaac Cookson, Esq., and 
 for some time owned and resided at Whitley Park, where he made extensive 
 improvements. He died June 14th, 1879, after a short illness, at the age of 49. 
 
 Mr. JOHN STEAVENSON appears to hold the unenviable position of having 
 been the only banker among those under notice who fought a duel. A Newcastle 
 paper for October 4th, 1832, states : — 
 
 " On Thursday morning last, a hostile meeting took place on the town-moor 
 here between John Steavenson, Esq., banker, and William A. Surtees, Esq., the 
 late Sheriff of the town ; the former was attended by J. L. Hood, Esq., and the 
 latter by William Forster, Esq. After an exchange of shots, the affair terminated 
 by Mr. Hood withdrawing his friend, Mr. Steavenson, from the ground. 
 
 ♦ Welford's " History of Gosforth." 
 
[^63] 
 
 2)rc0«er, 3o0epb, d do. ixbtrsft. 
 
 Founded between Partners. Transferred to Yorkshire 
 
 1820 AND 1830. District Banking Co. in 1835. 
 
 Information incomplete. 
 
 FOR an account of this bank I am indebted to a bank manager — still in 
 harness — who fifty-six years ago (then a lad of nineteen) entered a 
 banking establishment at Thirsk. He says : — " I remember the opening 
 of the bank of Joseph Dresser & Co. in Kirkgate, Thirsk, in m}^ boyhood. 
 Joseph Dresser was the thriving owner, I believe, of the Water Corn Mill, near 
 Top Cliffe, which has still a large business. He carried it on, and was reputed to 
 rule the Com Market of Thirsk and Ripon ; and I remember he was said to have 
 a wonderful memorj^, and would go into the market and buy of a number of 
 farmers without making notes of either prices or quantities. His son Henry had 
 banking experience, I think, in Hull, and became the manager at Thirsk. He 
 was in the firm. Another member of it was Mr. Tetley, of Asenby, near Top 
 Cliffe, a quiet. Christian gentleman, who Was looking for our Lord's advent, and 
 ' had a knife and fork laid for Him ' if He should come. Dresser & Co. ere long 
 joined the ' Yorkshire Banking Co.' " 
 
 The transfer was effected on February 17th, 1835. Mr. Henry Dresser took 
 the management at Thirsk on behalf of the Yorkshire District Banking Company. 
 The business of the latter firm w^as, in 1843, taken over by the Yorkshire 
 Banking Company, Mr. Henry Dresser being appointed manager of the head 
 office at Leeds. 
 
 2)unn, Benjamin. Durbam. 
 
 Founded prior to 1779. Proprietor, Termination unknown. 
 
 Benjamin Dunn. 
 
 BENJAMIN DUNN is named in the books of Messrs. Backhouse & Co. in 
 April, 1779. From the same record it appears that Messrs. Oj'ston & Dunn 
 of Durham were acting as note agents for Messrs. Backhouse from 1778 
 to 1780. The British Directory for 1790 has — Benjamin Dunn, Mercer, Draper, 
 
__^______ [^64] 
 
 and Banker. Reference to Mr. Dunn is made in the papers of Lambton & Co., 
 Newcastle-upon-Tyne. On June 23rd, 1790, Mr. Chambers, one of the partners, 
 writes to Mr. Fenwick complaining 'of Mr. Dunn of Durham demanding his 
 payment in gold. Among some paid vouchers of Surtees, Burdon, & Co., 
 Newcastle, on Barclay & Co., London, are two bills drawn to the order of 
 Benjamin Dunn, dated-March 19th, 1800 — one at 60 d/d 
 for £92^ 1 8s. — the other 50 d/d for ;^7oo. Both drafts 
 are endorsed by Benjamin Dunn with an ingenious ^-<-a/-c//7-, 
 signature of which a copy is produced. 
 
 In November, 1760, Mr. Benjamin Dunn was chosen Alderman for the city of 
 Durham. 
 
 }8l6tob, Xuke. stocftton. 
 
 Founded prior to 1779. Partners. Termination unknown. 
 
 Information incomplete. 
 
 THE Day Book of Messrs. Backhouse & Co., bankers, Darlington, shows that 
 in February, 1779, Luke Elstob was acting as their Agent at Stockton 
 for the circulation of their notes. On February 2nd one hundred Five 
 Guinea notes were advanced to him. Many transactions of a similar nature are 
 subsequently recorded. 
 
 The books of Messrs. R. and J. Campion, bankers, at Whitby, show that in 
 1807-8 they were doing banking business with Messrs Smith, Elstob, & Co., of 
 Stockton. 
 
 Among some paid vouchers of Surtees, Burdon, & Co., Newcastle, on 
 Barclay & Co., London, are two bills drawn to the order of Smith, Elstob, & Co., 
 one dated 6th March, 1802, at 10 d/d, for £649 is. id. ; another dated November 
 20th, 1802, at 10 d/d, for £1,076 i8s. 6d. Both drafts are endorsed over to 
 Harrison & Co. and duly receipted by them. They were probably the London 
 Agents for Smith, Elstob, & Co. 
 
 A copy ofthe signature upon the back ^ ^ ^^3^y ^ V/O 
 of the draft named is here shown. ^^i^Tt^^^^rA^ iPt^^o ^ ^ o^ 
 
[^65] 
 
 jfenton, Scott, IRicbolaon, d Smitb. 
 
 Founded prior to 1793. 
 
 Partners. 
 
 Ubirsft. 
 
 Extinct prior to 1816. 
 
 Fenton. 
 Scott, 
 
 Lucas Nicholson. 
 — Smith. 
 
 A York newspaper for March 3rd, 1793, contains the following announce- 
 ment : — 
 
 "We are authorised from Benjamin Swineyard, Esq., His Majesty's Collector of Excise, to inform the 
 public that he will receive nothing but Cash, Bank of England notes, and the three York Bank notes, 
 and Thirsk Bank notes in payment for the King's taxes, this and every ensuing round." 
 
 Probably Messrs. Fenton, Scott, & Co. were the bank referred to, as in the 
 list of country banks for 1805 they are the only firm announced at Thirsk, their 
 London Agents being Messrs. Boldero & Co. A £c^ 5s. note of theirs dated 
 5th March, 1806, signed for Fenton, Scott, Nicholson, & Smith — Lucas Nicholson 
 — is an interesting example of the "optional" note. 
 
 It will be seen that the issuers promise to pay " in Bank of England Notes 
 or Cash." This is the only instance that has come under notice of an " optional " 
 note of that nature having been used in the North of England. The circumstance is 
 made more remarkable by the note being issued during the time that the Bank of 
 England was under suspension of gold payments for their own notes, so that the 
 holders of this " promise to pay " of the Thirsk Bank could be paid with a 
 " promise to pay " of another bank which by Act of Parliament was ordered not to 
 pay. 
 
 H' 
 
[266] 
 
 Per favour of Sir John Evans, I have record of another five guinea note of this 
 firm issued from Thirsk, and dated 3rd November, 18 14, and from a one pound 
 note dated Leeds, August 29th, 1809, we gather that their head office was in that 
 town. 
 
 They are not named in the hsts for 1816 ; tradition says that they suspended 
 payment in the panic of 1 8 1 5 . 
 
 ffictchcv, Stubb0, Dew, d Stott •Wortballerton, 
 
 Founded prior to 1823. Partners. Termination unknown. 
 
 Information incomplete. 
 
 THE Directory for 1823 gives the above firm as bankers at Northallerton, 
 the London Agents being Glyn & Co. I am informed that they were not 
 local gentlemen, and carried on their business principally at Boroughbridge, 
 where it is stated their head office was situated. The books of Messrs. 
 Backhouse & Co. show that they had an account with the firm at Boroughbridge. 
 
 Jforster, BiutcU, IRanFiin, 8. Co, iFiewca8tie=upon=Trpne. 
 
 Founded 1784. THE COMMERCIAL BANK. Discontinued 1793. 
 
 Partners. 
 
 Francis Forster. Joseph Harris. 
 
 Joseph Forster. Charles Atkinson. 
 
 Palfrey George Burrell. John Burdon. 
 
 Robert Rankin. William Kent. 
 
 RESUMABLY the development of trade, and perchance the prosperity of 
 the existing banks, led to the formation of a fourth bank in Newcastle on 
 July 24th, 1784. 
 
 I produce a copy of one of their early notes. Though payable to bearer, it 
 was originally issued to Mr. Thomas Denham. It must have been one of the first 
 
 P 
 
[267j - 
 
 notes of the bank in question, as it is dated the day before their opening to the 
 pubhc. 
 
 U:^ 
 
 / 
 
 J/m 
 
 '/>//, u /^'A' 
 
 m 
 
 ^ 
 
 r ^. 
 
 
 ^^^^^:fi^^^^ ' 7^:y^^:\ 
 
 Francis Forster of Newcastle, Palfrey George Burrell of Alnwick, Robert 
 Rankin and Joseph Harris both of Newcastle, opened premises in the Close, 
 opposite the Long Stairs, trading as the Commercial Bank. Mr. Harris acted as 
 managing partner mitil October, 1785, when he quitted the firm. Evidently some 
 dispute had arisen, as subsequently Mr. Harris brought an action against the pro- 
 prietors of the bank, when it was shown that he had been a partner, but had received 
 notice to withdraw. He disregarded it, and some time afterwards came to the 
 office, and began to inspect the books, which two of the partners forcibly wrenched 
 from him. Two clerks were called to give evidence, who substantiated the facts 
 related, and stated that Mr. Harris had grossly neglected keeping the books, the 
 department of the business which he had undertaken, and that it occupied them 
 six months after he left, to get the accounts into proper form. The deed of 
 partnership was produced, and showed that for neglect of duty or misconduct, any 
 member of the firm could be dismissed, by the other partners giving him six 
 months' notice. This notice having been given prior to the assault, the plaintiff 
 was non-suited, and " strongly reprobated by Justice Butler for the absurdity of 
 bringing the case all the way from Newcastle to Guildhall." 
 
 The place of Mr. Harris in the bank was taken by Alderman Charles Atkinson 
 of Newcastle. His partnership was of short duration, as he soon afterwards 
 
[268] 
 
 became involved in some colliery transactions in Scotland, which caused him to 
 suspend payment. 
 
 In May, 1786, Mr. John Burdon of Hardwick, County Durham, and Mr. 
 William Kent, merchant of Newcastle, joined the firm, which then became 
 Burdon, Forster, Burrell, Rankin, and Kent. In 1788, a letter previously referred 
 to (see page 24), from the Committee of Bankers, is signed Burdon, Forster, & Co. 
 
 On December 31st, 1791, the bank offices were removed from the Close to 
 the west end of Mosley Street, opposite St. Nicholas' Church. Here they pursued 
 the ordinary avocation of bankers until the general panic in 1793. 
 
 Like the other banks in the town, the ''Commercial" had a considerable note 
 issue. The panic in the year named caused such a demand for gold in payment 
 of notes, that on Monday, April 8th, 1793, the bank failed to open its doors. 
 
 The following notice intimated their intention to the pubhc : — 
 
 " The Proprietors of the Commercial Bank under the firm of Burdon, Forster, Burrell, Rankin, and 
 Kent, lament that the Agitation of the Public Mind, and the run upon them resulting from it, will 
 lay them under the Necessity of suspending their Payments for a short Time. 
 
 They have however the Consolation of giving to their Friends and the Public the most positive 
 Assurance that their Funds are infinitely beyond their Debts, and that a short space of Time, employed 
 in their Arrangement, will make them abundantly productive. 
 
 They are ready to show an accurate State of their Affairs, from which it will appear, that after 
 the Discharge of all Demands upon them, a clear Balance of 25,0001. will remain in the Office over 
 and above their private Property. 
 
 Newcastle-upon-Tyne, Monday Morning, April 8th, 1793." 
 
 Upon April 8th, as recorded at page 48, a public meeting was held in 
 Newcastle, the Mayor presiding, and a Committee of Investigation was appointed. 
 On the following day the Committee reported that the proprietors of the Commercial 
 Bank having stated to the public their intention to discontinue their business, it 
 was not deemed necessary to go into their accounts. Subsequently, however, two 
 of their number did examine them. 
 
 A meeting was held in Gateshead on April loth, when it was stated that 
 
 " The Proprietors of the Commercial Bank having determined not to recommence the Banking 
 business their notes cannot at present be taken, but we have the strongest assurance that as soon as 
 the Affairs of that Bank can be wound up their Notes will be paid in full." 
 
 On April 12th, the proprietors of the Commercial Bank publicly announce— 
 
 " That no Effort or Sacrifice on their Part shall be wanting to give effect to their earnest Wishes to 
 restore to the Holders of their Paper its full Value, that in liquidating their affairs they will not regard 
 their own advantage but the benefits resulting to their clients, and their private fortunes shall be at 
 once called out in addition to their joint funds. The Protection and Countenance they have hitherto 
 received is a sure Pledge of the Indulgence being afforded them which the general State of Public 
 Credit makes necessary." 
 
[269] 
 
 On April i8th they issued a notice saying that according to promise they had 
 prepared a statement of their Debts and Credits, and wished the Committee to 
 examine it immediately, but they had been so engaged with other affairs that they 
 could not do so till next week, when they would be able to show they could pay 
 all demands. They also state that as soon as possible they will fix a date from 
 which depositors and holders of notes shall receive interest, and that they will 
 receive their own notes in all payments due to them. On the 26th of April 
 the firm 
 
 "respectfully acquaint the Public that they will allow Interest at the rate of 61. per Cent, per Annum, 
 to commence the 12th May next, upon their Notes and other Bank Debts, which shall then remain 
 unpaid, and to continue till such Demands be discharged, or a day appointed for that Purpose. 
 
 They also beg Leave to lay before the Public the Report of the Gentlemen who did them the 
 Favour to examine the State of their Debts and Credits, and trust it will satisfactorily show that 
 Stability in their Funds which they before assured the Public they possessed." 
 
 [copy of the bepoht.] 
 
 •* Newcastlb-upon-Tynk, April 24th, 1793. 
 We, the undersigned, being two of the Committee for the Support of Public Credit in this Town, having 
 been particularly requested by Messrs. Burdon, Forster, & Co., to examine into the State of their 
 Accounts and report our opinion thereof, and the Committee approving of their request, and 
 recommending our compliance therewith, We, this day, fully investigated the same, and it appears to 
 us, from the Books of Account, and other Documents, produced by those Gentlemen, that, after 
 discharging all their Banking Engagements, there will remain a Balance of £27,000 and upwards of 
 their public Funds, exclusive of their private Fortunes. 
 
 A. ADAMS. 
 
 T. E. HEADLAM." 
 
 The proprietors of the bank were true to their word, and on September 26th 
 of the same year announced " that they will be prepared to pay the Remainder of 
 their Notes now in circulation on Monday, the 14th Day of October, 1793, and 
 request the Holders of such Notes will present them for Payment at their Office 
 on that Day or in the Course of that Week. And they give Notice that the 
 Allowance of Interest will cease on the 14th Day of October." 
 
 It would appear that Messrs. Surtees, Burdon, & Co. took up the business 
 left by the retiring bank, as a newspaper advertisement states : — 
 
 " AH Bills drawn by Messrs. Gurneys, Birkbeck, & Taylor on Messrs. Burdon, Forster, & Co. will be paid 
 by Messrs. Surtees, Burdon, & Co.— Newcastle, April 18, 1793." 
 
 Much of my information regarding this bank is from an interesting MS., 
 which says : — 
 
 " The writer was five years in the Bank, say from 1788 to 1793, and is the only person living belonging 
 to that establishment. (Signed) James Potts. 
 
 Newcastus-upon Tyne, September 21st, 1829." 
 
[^70] 
 
 The firm had a branch at Alnwick, probably the first bank possessed by that 
 town. The British Directory for about 1790 has under the "Traders " of Alnwick, 
 " Palfrey George Burrell, Banker." The accompanying form shows that they 
 issued drafts from Alnwick payable in London. 
 
 
 Lz)ffMJ \a/f4^ /:^it^ /mij /<^ t/n' O/t/tr of 
 
 -V/l/u£j %C(W4^ 
 
 
 N? 
 
 i?w.,« ^^^^ 
 
 FRANCIS FORSTER. — He appears to have been a partner for a very short 
 time. The bank was opened July 24th, 1784, and in a local paper of October 4th 
 of the same year we read : — " Francis Forster, Esq., a proprietor of the Sugar 
 House, partner in the Commercial Bank, and one of the aldermen of Newcastle, 
 died at his house at Seaton Burn, in Northumberland." 
 
 The family is supposed to have descended from the Adderstone Forsters 
 through a branch of the family settled at Buston. Mr. Forster was a merchant of 
 Newcastle, and acquired property at Seaton Burn, where he resided. In 1761 he 
 joined several other gentlemen in the purchase of premises in Hillgate, Gateshead, 
 for a sugar baker}^ He was the head of the firm of Forster, Rankin, & Atkinson, 
 who owned sugar-houses in the Close. He became a member of the Common 
 Council 1763, was elected Sheriff six years later, and Mayor in 1769 and 1779. 
 His name appears in the list of Aldermen of 1778, w^ien he was residing near 
 Nun-gate. The newspapers of the day speak most highly in his praise. His 
 daughter Eleanor married Rev. James Manisty, B.D., Vicar of Edlingham, 
 and became in 1808 the mother of Henry, afterwards Sir Henry Manisty, one of 
 Her Majesty's judges. At the death of Mr. Forster, his son Joseph succeeded his 
 father in the sugar-house and the bank. 
 
[^71] 
 
 JOSEPH FORSTER. — He was born in 1762, and brought up at Seaton Burn 
 and Newcastle, He married on July 8th, 1794, Mary, only daughter of Henry Scott, 
 and favourite niece of Sir John Scott, then Attorney-General, afterwards Lord 
 Eldon. By his marriage he was brought into intimate connection with the leading 
 families of the district. " Remember me affectionately to Mr. and Mrs. Forster," 
 was the message which Lord Eldon sent to his niece and her husband when 
 announcing to his brother Henry his elevation to the peerage, July, 1799. He 
 was elected Mayor in 1801, being then an Alderman. On his retirement, October 
 9th, 1802, his praises were sounded by the local papers. He was joint-receiver of 
 the Derwentwater estates for the Commissioners of Greenwich Hospital. He was 
 appointed Mayor a second time in 1808, and a third time in 18 18. He died at his 
 town house in Westgate Street, April 7th, 1821, aged 59, and was buried in St. 
 Nicholas' Church. His wife survived him many years, and spent much of her 
 time with Lord Eldon. She collected and noted down numerous little incidents 
 of family life, which formed part of the valuable materials from which Twiss 
 compiled his " Life of Lord Eldon." Mrs. Forster died April 17th, 1846, aged 71, 
 and was interred in St. Nicholas' Church beside her husband. The tomb bears the 
 following inscription : — 
 
 " Sacred to the memory of Joseph Forster of Seaton Burn, in the county of Northumberland, Esquire ; 
 formerly alderman of this town, who died April 7, 1821, aged 59 years. And of Mary his wife, 
 daughter of Henry Scott, Esq., who died April 17, 1846, aged 71 years. And also of their children — 
 Henry, who died June 5, 1823, aged 28 years ; Joseph Francis, who died May 17, 1823, aged 31 years ; 
 Ellen, who died December 12, 1841, aged 43 years." 
 
 ROBERT RANKIN.— A partner with Forster & Atkinson as sugar-boilers. 
 His eldest daughter, Elizabeth, married Mr. Martineau, a manufacturer of Norwich, 
 and became the mother of Harriet Martineau. Miss Martineau in her 
 Autobiography writes : — 
 
 " On the occasion of the Revocation of the Edict of Nantes, in 1685, a surgeon of the name of 
 Martineau and a family of the name of Pierre crossed the Channel, and joined the Huguenots in 
 England. My ancestor married a Miss Pierre, and settled at Norwich, and his descendants afforded 
 a succession of surgeons up to my own day. My eminent uncle Philip Meadows Martineau, and my 
 eldest brother, who died at the age of thirty, were the last Norwich surgeons of the name. . . . 
 My Father when established at Norwich as a manufacturer, married Elizabeth Rankin, the eldest 
 daughter of a sugar-refiner at Newcastle." 
 
 Miss Martineau gives a graphic account of her journey as a child in 1807, to 
 pay a visit to her grand-parents at Newcastle, and mentions their attending the 
 ministry of the Rev. WiUiam Turner in Hanover Square. In 1838 Miss Martineau 
 came to Tynemouth, an invalid, to be near her brother-in-law Dr. Greenhow, 
 Newcastle, and while there wrote her well-known book " Life in a Sick Room." 
 
[^7^] 
 
 In the Newcastle Directory for 1787, we find "Robert Rankin & Son, 
 Merchants, Bigg Market (foot)." Mr. Rankin died at the Hebburn Office, 
 Quayside, December, 1823.* 
 
 JOSEPH HARRIS. — He was (most probably) previously to his entering the 
 firm, a clerk with Messrs. Surtees, Burdon, & Co., as a one pound Note before me 
 of that firm, dated November 8th, 1770, is signed — "For Aubone Surtees and 
 Rowland Burdon. Joseph Harris," and from the account I give of the action 
 brought against the Commercial Bank by Mr. Harris, it will be seen that he had 
 undertaken to superintend the book-keeping when he joined the firm. 
 
 WILLIAM KENT. — In the Newcastle Directory for 1787, he appears as a 
 Fitter, having his office on the Quayside. 
 
 CHARLES ATKINSON.— He was elected Sheriff of Newcastle in 1765, and 
 Mayor in 1775 and 1783. During his first term of office, on July 8th, 1776, he laid 
 the foundation-stone of the southern pier of a bridge that was then being built 
 over the Tyne, to replace one destroyed by the "great flood." A copper medal 
 in a glass case was deposited in the stone. When the bridge was demolished in 
 1867 to make way for the Swing Bridge, the case was found and removed to the 
 Museum at the Black Gate. On April 13th, 1778, Mr. Atkinson was one of the 
 pall-bearers at the interment of Matthew Ridley of Heaton Hall. He married 
 Frances, daughter of James Moncaster, merchant, who in 1724-5 was Sheriff of 
 Newcastle. She died in 1793, aged 68. The Newcastle Directories for 1778 and 
 1787 show that Mr. Atkinson resided in the Side. He was a partner with Forster 
 and Rankin, sugar-bakers in the Close. He very soon left the bank, being involved 
 in some colliery transactions in Scotland, where he came to an untimely end. On 
 February 12th, 1797, in company with his son, he was inspecting the collieries in 
 which they were interested near Dunfermline, and whilst looking down an old 
 pit, a piece of timber on which he was standing gave way, and he was precipitated 
 to the bottom of the shaft — a depth of 40 fathoms. It was many hours before 
 his remains could be recovered ; the body was brought to Newcastle, and on the 
 19th was interred in St. Nicholas' Church, in the presence of an immense crowd 
 of people. Mr. Atkinson was held in high esteem ; a local chronicler wrote of 
 him as follows : — 
 
 " As a magistrate he was respected for his stern and incorruptible integrity and punctual attention to 
 the duties of his office ; and as a man, the goodness of his heart, and the affability of his manners, 
 
 ♦"In 1776, August 21st, Robert Knowles the North Shields postman was executed upon the Town Moor, New- 
 castle, for stealing a letter out of the Newcastle post-office, in the preceding October. It contained two £50 
 Bank of England bills, the property of Mr. Robert Rankin. Knowles was apprehended November, 1775, but in 
 June 1776, he cleverly entrapped the jailer in his cell, fastened the door upon him and made his escape. A 
 reward of £20 was offered for his re-capture. A few days afterwards he was re-taken near Walker Colliery. At 
 the execution, Knowles was dressed in black, and read a paper, admitting his sentence to be just." 
 
[273] 
 
 gained him the affection of all. His general worth and merit produced him an extraordinary popu- 
 larity, and his life was justly considered as a bright example of moral excellence. He ever stood forth 
 as a strenuous champion for the rights and privileges of his fellow-citizens." 
 
 In addition to his residence in the Side, Mr. Atkinson had a house at 
 Wallsend, for Bourne the historian mentions the beautiful houses and gardens 
 at Wallsend, one of which belonged to " Mr. Charles Atkinson of Newcastle, 
 Hostman," while another was owned by his father-in-law, Mr. James Moncaster, 
 Merchant. 
 
 JOHN BURDON. — He was the son of Nicholas, and the grandson of 
 Thomas Burdon of South Shields. The family, it is said, came from Nottingham. 
 John was born at South Shields, and was the youngest of eighteen children. In 
 1748 he purchased the manor of Hardwick (near Sedgefield). The mansion, 
 known as Hardwick Hall, was a spacious building in a commanding situation — 
 surrounded by very extensive pleasure-grounds, which Mr. Burdon greatly 
 improved. In 1780, he conveyed the property (reserving the life interest) to 
 William Russell, Esq. (Russell, Allan, and Wade, bankers, Sunderland), of 
 Brancepeth.* 
 
 jfranftlanb, 3obn anb 3ame6. imbim. 
 
 Founded about 1820. Partners. Purchased by York 
 
 City Bank, 1845. 
 
 John Franhland. James Wilkinson. 
 
 James Franhland. Matthew Hutton Chaytor. 
 
 Sir William Chaytor. 
 
 JOHN and JAMES FRANKLAND were drapers who subsequently developed 
 into bankers, like so many country traders in the early part of the century. 
 Messrs. Peirson, who opened a bank at Whitby in 1 778, retired from the 
 profession about 1820, and upon the foundation thus left Messrs. Frankland built. 
 
 In one list for 1823 they are announced as John and James Frankland, Church 
 Street ; London Agents, Curtis & Co. ; and in another list of the same date as 
 Frankland and Wilkinson. By 1829 they had considerably extended their field of 
 operations. On October 20th of that year they entered into partnership with Sir 
 William Chaytor ; the members of the firm then being Sir William Chaytor of 
 
 * " Mr. Burden's politics will be shown by the following :— ' Newcastle, June 3rd, 1775.— Monday being the 
 Anniversary of the Restoration of King Charles II. it was observed by ringing of Bells. 
 
 The same Day the Bells of Sedgefield wore ordered to be rung on the above Occasion by John Burdon Esq. 
 of Hardwick; but that Demonstration of Joy not meeting the Approbation of a neighbouring Gentleman, he 
 took the Key of the Bell-room from the Parish Clerk and would not suffer ihem to give one Peal for the 
 Beatoration.' " 
 
[274] ^ 
 
 Wittoii Castle, John Frankland of Whitby, James Wilkinson of Sunderland, and 
 Matthew Hutton Chaytor. Their head office was at Sunderland, and they had 
 branch establishments at Durham and Whitby (occasional attendance at Bishop 
 Auckland), and subsequently at Hartlepool. (See Sir William Chaytor & Co.) 
 
 A period of seven years brought a separation of interests. In 1836 Messrs. 
 Chapman, bankers, of Newcastle, turned their business into a Joint Stock Company, 
 under the style of the Newcastle, Shields, and Sunderland Union Joint Stock 
 Bank, and soon after obtained the business of Sir William Chaytor, Frankland, & Co. 
 The Whitby establishment does not appear to have been included in this arrange- 
 ment. Messrs. Frankland and Wilkinson retained the business at the Yorkshire 
 seaport, and are regularly reported in the lists up to 1845. During this year their 
 connection was disposed of to the York City and County Bank, their note issue, 
 which was only ^2,076, thus becoming extinct. The Franklands were an old 
 and highly respected Whitb}^ family, and are recorded there very early in 1700. 
 
 The Wilkinsons were also originally drapers in Whitby, their standing being 
 much improved by the marriage of James Wilkinson with Jane Marsingale, who 
 was heiress to the Dunsley property. Mr. Samuel Wilkinson, solicitor, of Sleights, 
 near Whitby, is the present representative of the family. 
 
 (Boobcbilb, 3acl^6on, & Co. sun&erian&. 
 
 Founded about 1800. WEAR BANK. Failed 1815. 
 
 Partners. 
 
 y^ohn Goodchild. John Goodchild, jun. 
 
 John Jackson. James Jackson. 
 
 William Jackson. Thomas Jones. 
 — Heurtley. 
 
 THERE is the strongest probability that this bank arose from, or was a 
 branch of a London bank bearing the same names, but reversed in order. 
 The list of London Bankers for 1801, has no mention of either name, but 
 in the list for 1802 appears Jackson, Goodchild, & Co., Cousen Lane, Upper 
 Thames Street, and in 18 12 the address is Dowgate Iron Wharf. They are 
 regularly recorded until 1819, the last year in which they are named. Later in 
 this account I shall be able to show that two members of the Sunderland firm had 
 the Dowgate Wharf address. 
 
[275] 
 
 The earliest record that I have of the Sunderland firm is in the panic of 1803. 
 On July 23rd of that year, the following announcement was made : — 
 
 Sunderland, July 23rd, 1803. 
 
 " We, whose Names are hereunto subscribed, being fully convinced of the Ability of Messrs. Goodchilds, 
 Jackson, Heurtley, and Co. Proprietors of the Wear Bank, to answer every Demand upon them, do, 
 in order to appease the general Alarm, engage to support their Credit, and indemnify the public against 
 any Loss by their Notes, to the Amount of the Sums set opposite to our respective Names : — 
 
 Hedworth Williamson . . 5,000 
 
 William Peareth . . 5,000 
 
 Trustees of the late) inr\nn 
 
 J. Stafford, Esq. J ^^'^^ 
 
 Cooper Abbs, & Co. . . 10,000 
 
 Edward Grey . . . . 6,000 
 
 Stephen Pemberton . . 2,000 
 
 Thomas Nicholson . . 5,000 
 
 Richard Pemberton . . 5,000 
 
 Thomas Horn and Son 5,000 
 
 Michael Longridge . . 2,000 
 
 Robert Biss . . . . 5,000 
 
 George Robinson . . 5,000 
 
 William Hayton . . 2,000 
 
 Rankin, Horn, & Walton 3,000 
 
 Robt. Gibbon, Jun.& Co. 1,000 
 
 Thomas Wake . . . . 5,000 
 
 Matthew Fairless . . 5,000 
 
 C. T. Thornhill . . . . 3,000 
 
 John White .. .. 1,000 
 
 Edward Wylam, Jun. . . 3,000 
 
 Christopher John Cay. . 5,000 
 
 Richard Mordey . . 3,000 
 
 George Matthews . . 1,000 
 
 Robert Reay . . . . 3.000 
 
 Threlkeld Busby . . 1,000 
 
 Christopher Dobson . . ] ,000 
 
 Charles Simpson . . 3,000 
 
 G. W. Meadley . . . . 1,000 
 
 William IMaude Ogden . . 3,000 
 
 Bernard Ogden . . . . 2.000 
 
 Joshua Lynn . . . . 1,000 
 
 John Burrell . . . . 1,000 
 
 Ovington, and Co. . . 1,000 
 
 Cuthbert Vaux . . . . 1,000 
 
 Nath. Horn . . . . 3,000 
 Grimshaw, Webster, & Co. 5,000 
 
 Rowland Webster, jun. 2,000 
 
 Thomas Collingwood . . 1 ,000 
 
 William Paley .. .. 1,000 
 
 Solomon Chapman . . 1,000 
 
 John Nicholson . . .. 1,000 
 
 Robert Cropton . . . . 5,000 
 
 Ralph Preston Robson . . 5,000 
 
 Joseph Harrison . . 4,000 
 
 William Wealands . . 4,000 
 
 John Bonner . . . . 4,000 
 
 Thomas Taylor . . . . 4,000 
 
 James Myers . . . . 3,000 
 
 Francis Lowes . . . . 3,000 
 
 Thomas Brunton . . 3,000 
 
 Union Pottery . . . . 3,000 
 
 John Davison . . 
 
 £ 
 3,000 
 
 Cooper Abbs 
 
 2,000 
 
 Bonner and Taylor 
 
 2,000 
 
 Stonehouse and Satchel 
 
 1 800 
 
 James Hogg 
 
 800 
 
 John Rennet 
 
 800 
 
 John Chrisp 
 
 600 
 
 John Hunter 
 
 500 
 
 Thomas Hunter. . 
 
 500 
 
 William Haddock 
 
 500 
 
 Thomas Collin . . 
 
 500 
 
 Robert Davidson 
 
 500 
 
 Thomas Young . . 
 
 500 
 
 Robert Hutton . . 
 
 500 
 
 William Eden . . 
 
 500 
 
 George Stephenson 
 
 500 
 
 George Hassall . . 
 
 500 
 
 Thos. Robson . . 
 
 3,000 
 
 John Stamp 
 
 500 
 
 Lowes and Scaling 
 
 1,000 
 
 For Jas. Jackson, Esq. i 
 
 10,000 
 
 Thos. Sanderson )" 
 
 John Galley 
 
 2,000 
 
 Brunton and Raffield . 
 
 2,000 
 
 Southwick Crown Glas 
 
 
 Co 
 
 2,000 
 
 Ridley and Naggs 
 
 2,000 
 
 Thomas Mounsey 
 
 2,000 
 
 J. and P. Laing 
 
 2,000 
 
 James Brewis . . 
 
 1,500 
 
 Ann Taylor 
 
 1,500 
 
 George Lawson . . 
 
 1,500 
 
 John Booth 
 
 1,500 
 
 Robert Cairns . . 
 
 1,500 
 
 Joseph Lee 
 
 1,200 
 
 Robert Whinnam 
 
 1,500 
 
 Taylor and Wilkinson . 
 
 1,000 
 
 John Taylor 
 
 1,000 
 
 Thomas Burn . . 
 
 1,000 
 
 Anthony Scott . . 
 
 1,000 
 
 John Taylor 
 
 1,000 
 
 Eleanor Palmer 
 
 1,000 
 
 John Eggleston.. 
 
 1,000 
 
 John Blenkinsop 
 
 800 
 
 Thomas Bell . . 
 
 500 
 
 John Matthews . . 
 
 500 
 
 Samuel Stephenson 
 
 500 
 
 John Lawson . . 
 
 500 
 
 Robert Ord 
 
 500 
 
 John Heppell . . 
 
 500 
 
 William Booth . . 
 
 500 
 
 John Givens 
 
 500 
 
 John Hunter 
 William Kirk . . 
 John Coxon 
 George LongstafE 
 William Budlo .. 
 EUerby and Ranson 
 Thomas EUerby 
 Thomas Smith . . 
 George Todd 
 Thomas Myers . . 
 Thomas Reed . . 
 Christopher Kilvington 
 Crozier and Co. . . 
 William Crosier. . 
 George Raffield . . 
 John Howlgate . . 
 Sharp Stothard . . 
 William Burn . . 
 Thomas Bonner 
 Andrew Walker. . 
 George Howe 
 Ord and Ewbank 
 James Lawson, jun. 
 Anthony Snowball 
 William Kirsop . . 
 William Shevill 
 Jane Brunton . . 
 Charles Graydon 
 Joseph Wilkinson 
 George Gregson . . 
 John Knaggs 
 John Ridley, jun. 
 Robert Embleton 
 John Lamb and Son 
 Thomas Scaling 
 William Cornforth 
 Ralph Hills 
 Orton and Beckwith 
 Owners of Leefield I 
 Colliery ) 
 
 C. I. Humble and Co 
 William Lee 
 William Ferry • . 
 Robert Storey . . 
 Richard Graydon 
 William Surtees 
 Jacob Claude 
 Thos. Matthews 
 Matthew Barker 
 Andrew Simpson 
 
 £ 
 
 500 
 500 
 500 
 400 
 400 
 300 
 300 
 300 
 200 
 500 
 300 
 500 
 500 
 500 
 50O 
 500 
 500 
 500 
 500 
 500 
 500 
 500 
 500 
 500 
 500 
 500 
 600 
 600 
 500 
 500 
 500 
 500 
 500 
 500 
 500 
 300 
 300 
 2,000 
 
 4,000 
 
 3,000 
 
 500 
 
 500 
 
 1,500 
 
 1,000 
 
 1,000 
 
 5,000 
 
 300 
 
 1,000 
 
 500 
 
 £267,600 
 
[276^ 
 
 The guarantee had the desired effect, and the notes of the bank were freely 
 accepted. A One Pound Note of the firm is here shown. 
 
 The year 1815 was another trying time to the banker, and on June 29th, 
 Messrs. Goodchild, Jackson, and Co. were again in difficulties. One hundred 
 gentlemen in the district most generously came forward and were each willing to 
 become security for the bank to the extent of ^^500. On July ist, 1815, the 
 proprietors of the Wear Bank, Goodchild, Jackson, & Co., express their thanks 
 and gratitude for the assistance that had been offered, but regret to state " that 
 the mode proposed of raising the sum to meet the present demand on them not 
 having succeeded, they are in consequence under the painful necessity of 
 suspending payment." Every effort was made to resuscitate the bank, but in the 
 October following the partners were declared bankrupt. 
 
 The partners in the Wear Bank at the time of the failure were : — " John 
 Goodchild the elder of Low Pallion ; John Jackson and William Jackson both 
 now or late of Dowgate Wharf in the City of London ; John Goodchild the 
 younger of High Pallion ; James Jackson now or late of Eppleton in the County 
 of Durham ; and Thomas Jones the elder now or late of Greencroft, in the 
 County of Durham." The partners had notice to appear at the house of Thomas 
 Jowsey, the Bridge Inn, Bishopwearmouth, on the 15th and i6th of January, and 
 the 3rd of February, and make a full discovery and disclosure of their estate and 
 effects. The creditors were requested to come and prove their debts and appoint 
 assignees. In a further announcement, creditors are requested to send in their 
 
l^n'] 
 
 claims so that they may be examined and adjusted, attendance being given at the 
 bank each day from 1 1 to i for this purpose. 
 
 The only particulars of dividends that I have note of are from the following 
 announcement made October 21st, 1833 : — 
 
 " The trustees will be ready to pay the dividend declared on September 18th, that is to say, 8|d. in the 
 £ on the debts proved against the Bank Estate — 2MJ in the £ on debts proved against the estate of 
 John Goodchild the younger, and 3Jd. in the £ against the Estate of James Jackson, and all the 
 previous dividends declared on New Proofs made on the above day. 
 
 JOHN P. KIDSON, Solicitor, Sunderland." 
 
 The Goodchilds were an old family in Sunderland. 
 
 In 1 85 1 at a ".Halmote Court," held at Sunderland in connection with cop}'hold 
 property, the clerk made the following proclamation for the heirs of the deceased 
 trustees, varying the names to suit each case i-^-" O Yes ! O Yes ! O Yes ! The 
 heirs and next-of-kin of John Goodchild (of Pallion), trustee for John Johnson, 
 come forth and claim the customary lands and tenements which he held in 
 Wearmouth, or you will lose your right." 
 
 One son of John Goodchild the banker is well remembered. Lawrence 
 Goodchild the " Blind Scholar " was for thirty years a familiar figure in Newcastle, 
 the long stick (higher than himself) with which he guided his course, making him 
 noticeable. He was born at Pallion, December ist, 1813, only two years before 
 his father's misfortunes. After the failure of the bank the family removed to 
 Perthshire, where they resided until the death of Mr. Goodchild, when the widow 
 and children returned to Sunderland. Lawrence was educated at the school of 
 Dr. Wood of Monkwearmouth. He was an able and diligent scholar, so much so, 
 that when at the age of twenty, blindness came upon him, he was competent to 
 act as classical master in the school of Mr. Weyms at Durham. He afterwards wrote 
 several works — " Hoel, a Cambrian Tale," " Warkworth," " The Rebel's Wooing," 
 and many others. " He undertook the sale of his work himself, traversing with it, 
 mostly on foot, nearly every county in England." He died after a few days' illness, 
 March 21st, 1881, aged 68. 
 
 THOMAS JONES the junior member, entered the partnership in 1806. When 
 it failed he had drawn out about ^80,000. This bankrupt was under examination 
 for five days at Sunderland — March 23rd, April 8th, 9th, loth, and 15th, 18 16. 
 When called upon on the morning of the sixth day, he did not appear, and was 
 consequently outlawed. The substance of his examination was afterwards published 
 in pamphlet form, and shows a most lamentable amount of fraud and dishonesty 
 on the part of Jones, and great laxity and carelessness on the part of his partners. 
 
[J7l} 
 
 The bankrupt had not kept any accounts. The following statement will give some 
 idea of the position of his affairs : — 
 
 Db. 
 
 THOMAS JONES in Account with the Wear Bank, Sunderland. 
 
 Cr. 
 
 To Book debts as per Ledger 
 
 £1,564 9 
 
 
 
 By Sundries delivered up at and 
 
 
 
 ,, Sundries embezzled or not 
 
 
 
 prior to his Examination, 
 
 
 
 entered as per Vouchers 
 
 11,202 9 
 
 
 
 viz., Smith's Note . 
 
 £180 
 
 
 
 ,, Cash Balance, for a great part 
 
 
 
 ,, Rain's Bill 
 
 228 
 
 10 
 
 of which there are Vouchers 
 
 
 
 ,, Croudace's ditto .... 
 
 130 
 
 
 
 fraudulently accounted for . 
 
 59,729 7 
 
 4 
 
 ,, Oyston's ditto .... 
 ,, Beckworth's ditto 
 
 88 
 25 
 
 6 
 
 
 £72,497 5 
 
 4 
 
 8 
 
 „ Two bills lying unpaid in 
 
 
 
 
 
 
 London 
 
 1,860 12 
 
 
 
 
 
 
 ,, Two ditto on W. Spence and 
 
 
 
 
 
 
 T. Jones, Jr. (Bkpts.) 
 
 802 15 
 
 
 
 
 
 
 ' 
 
 £75,160 12 
 
 4 
 
 
 Note. — From the small amount of profit in the year before he was a partner, 
 there is reason to fear a considerable embezzlement, but of the first six years' 
 Vouchers, only six months are left at the bank. His list of tradesmen's bills paid 
 within the first five months amounts to ^221 i8s., during which time nothing is 
 charged to his account, though he admits he had no other resources ; and in his 
 statement put in the last day, states that about the same time he paid an old debt 
 and costs amounting to ;^i8o. The bankrupt attempted to explain how he had 
 lost or disposed of his property. He admitted having drawn from the bank for 14 
 years, salary* and profit, ^"3,150 6s., for other money drawn from the bank, 
 ;^72,497 5s. 4d., other money received brings the total amount to ^84,220. Some 
 of the principal items of loss or expenditure are the following : — 
 
 ' Loss on Pictures 
 
 
 . 
 
 
 £19,318 
 
 Wear Bank for Interest 
 
 
 
 
 11,477 
 
 My Brother James Jones 
 Loss on Garden 
 
 
 
 
 1,300 
 700 
 
 Do. Furniture 
 
 
 
 
 8,000 
 
 Do, Plate 
 
 
 
 
 300 
 
 Do. Horses 
 
 
 
 
 150 
 
 Journeys to London 
 
 Law Expenses 
 
 Green— Organist 
 
 Proceeds of the Furniture at Gr 
 
 eencroft 
 
 and other Proper 
 
 ty 
 
 500 
 
 500 
 
 135 
 
 3,000 
 
 14 Years and upwards Expenditi 
 kept a regular Account 
 
 ire and o 
 
 ther omissions, 
 
 not having 
 
 34,000 
 
 Mr. Jones was probably a clerk in the bank for some years before he became a partner. 
 
[279] 
 
 One hundred pounds reward was offered for the bankrupt's apprehension by- 
 Messrs. Hustler, Hunter, and Bell, assignees of the estate. The bankrupt is 
 described as 
 
 " about 52 years of age, of slender make, stature much below the middle size, dark or sallow visage, 
 presenting an appearance as if he had recently recovered from an illness, broad face, high cheek 
 bones, dark eyes, which when in the act of speaking, he keeps steadfastly fixed on the countenance 
 of the person he is talking to ; dark hair, inclining to curl : quick gait, and uses a small stick in 
 walking, good address, speaks the south-country dialect in a smooth insinuating manner, and 
 occasionally used a pair of gold mounted spectacles. He lately resided at Greencroft, in the county 
 of Durham ; was formerly a glover at Ludlow, afterwards in trade in Birmingham, and about 15 years 
 ago was employed as a clerk in a bank at Stourbridge." 
 
 IbaGues, StricFilant), d alien. /iDaiton. 
 
 Founded about i8i6. NORTH RIDING BANK. Suspended Payment 
 
 Partners. 1825. 
 
 Thomas Hague. — Allen. 
 
 — Hague. John Barnhy. 
 
 Arthur Strickland. 
 
 AT some date between 1816 and 1822, the above firm commenced business at 
 
 /-\ Malton, their London agents being Barclay & Co. A note of theirs for 
 
 £1 — No. 1,354 B> dated Malton, 31st October, 1822, is signed "For 
 
 Hagues, Strickland, and Allen. Thos. Hague. Entered W. Allinson." It is from 
 
 a plate by Perkins, Fairman, and Heath, of London — a firm that produced work 
 
 of the highest class. 
 
 In 1823 they had a branch at Pickering in the Boroughgate — William Ashton, 
 agent. 
 
 They had not a ver}'- long course, though they had a considerable note issue, 
 and must have had an extensive business. In the eventful year of 1825 they were 
 compelled to close their doors. An extract from the York Courant, February 
 2 1 St, 1825, will best explain the situation : — 
 
 " We regret to announce that the respectable Banking Establishment of Messrs. Hagues, Strickland, 
 and Allen, of Malton, have been compelled to suspend their payments. In a notice issued by them 
 and circulated yesterday (Monday), they state that they have been compelled to take this step 
 " owing to the long continued and eiicreasing pressure upon their establishment, and the utter 
 impossibility of getting in their resources, in consequence of the present stagnation in the trade and 
 commerce of the country." 
 
 Messrs. Hagues and Co , however, assure the public, that on an inspection of the situation of 
 their affairs " there will be found more than sufficient to pay every demand in full." — The nolice further 
 contains the following singular explanatory paragraph : " When Messrs. Hagues and Co. state to the 
 
[28o] 
 
 public, that, about five years ago, they were defrauded and robbed by their late partner, John Barnby, 
 and his accomplices, to the amount of sixty thousand pounds and upwards — that notwithstanding, 
 Messrs. Hagues and Co., have maintained their credit and characters unimpeached ever since, though 
 they had to contend with numerous prejudices arising out of the misconduct of that partner^and 
 further, that they had within the last two months, amidst the difficulties and troubles of the country, 
 paid near one hundred and twenty thousand pounds in discharge of their engagements, Messrs. 
 Hagues and Co. feel assured that the public will sympathize with them in the present situation, and 
 allow them time for the settlement of their affairs, under the direction of proper persons to be 
 appointed for that purpose." 
 
 A further announcement says : — 
 
 " Last week, it was our painful duty to add the respectable firm of Messrs. Hagues, Strickland, and 
 Allen, of Malton, to the melancholy list of banks, which have stopped payment, during this most 
 unexampled period of severe trial. It is, however, with much satisfaction we perceive, by an 
 advertisement in our first page, that the accounts have been looked over by persons fully competent 
 to understand them, and that they show a very considerable surplus after payment of every demand 
 in full. 
 
 We understand, the amount of their notes in circulation, is now little more than 24 or £25,000, 
 that the total amount of the claims upon the house do not exceed £90,000, and that the effects to meet 
 that sum, amount to somewhere about £111,000, exclusive of the private estate of each partner. The 
 firm is rapidly winding up its concerns, and the partners confidently hope, to pay off one third of 
 their obligations within three months, and the remainder within a very short period." 
 
 The firm circulated a handbill explaining these circumstances. They were 
 allowed to wind up voluntarily, though Arthur Strickland became bankrupt, 
 February 20th, 1827. 
 
 1banlmon^, Ibtrst, a Close. iRortbaiierton. 
 
 Founded prior to NORTH RIDING BANK. Stopped Payment 
 
 1804. Partners. about 1820. 
 
 Anthony Hammond. Henry Hirst. jfohn Close. 
 
 THE earliest record gathered of this firm is from one of their notes for five 
 guineas which bears date, March 14th, 1804. They then styled 
 themselves the " North Riding Bank," and in a vignette upon their note 
 they have a view of the Register Office, Northallerton. 
 
 The partners were : — Anthony Hammond, of Hutton Bonville Hall, near 
 Northallerton ; Henry Hirst, a Solicitor of Northallerton ; and John Close. I 
 incline to think that they took over the business of Messrs. Peirse, Consett, 
 Topham, and Walton, as the bank bears the same name, and the same view of the 
 Register Office is upon their notes, though the blocks from which the views are 
 printed are executed by different artists, the fomier being by Beilby and Bewick 
 of Newcastle ; and the latter by Gale and Buden of London. They are named as 
 
[28^j 
 
 Hammond & Co. in the bankers' list for 1813, with WiHis & Co. as their London 
 Agents. They are not in the list for 1823, so that they ceased business some time 
 between 1813 and 1823. The bank stopped payment, but avoided the Bankruptcy 
 Court. 
 
 ANTHONY HAMMOND.— His name originally was Ewbanke, but he 
 took the name of Hammond under the will of his great-uncle Peter Hammond, 
 of Bolton Hall, near Wensley, who left him estates in various parts of 
 Yorkshire. His marriage was announced thus : — " 1790, October 21st. — At 
 Richmond, Anthony Hammond, Esq., of Hutton-Bonville, near Northallerton, 
 was married to Miss Close of the former town." He purchased the Hutton- 
 Bonville estates from Richard William Peirse in 1785. At the time of the bank 
 failure he broke the entail, and sold the estates in 1825 to Henry Peirse, a 
 member of the same family that parted with them in 1785. In 1840 they were the 
 property of Miss Mary Ann Peirse, and are described as containing 1080 acres of 
 land. Miss Peirse was also patroness of the living. At her death they came to 
 Henry de la Poer Beresford, who took the name of Peirse. 
 
 Mr. Hammond retired to Durham, where he resided for some little time ; he 
 then went to Richmond, to which place he originally belonged. He died there 
 about 1835, aged 80, and was buried at Easby. 
 
 The Hirst family were numerous in the Northallerton district, and for many 
 years were the proprietors of the celebrated Golden Lion Inn. I cannot see that 
 any of the firm were connected with the Register Office, a view of which 
 appears upon their notes, though it is stated in the account of this institution 
 (see Peirse, Consett, & Co.), that prior to the establishment of the present office, 
 John Close of Oulston, near Easingwold, was, in 1726, Acting-Registrar. 
 
 1baw?i0, (Brc^, prieetman, d Co. mewcastie-upon-usne. 
 
 Founded December i2th, 1857. Partners. Dissolved May, 1858. 
 
 Joseph Hawks. James Sillick. 
 
 John Grey. John Brodrick Dale. 
 
 Jonathan Priestman. Jonathan Priest man, j'un. 
 
 A FEW days after the suspension of the Northumberland and Durham District 
 Bank, the following paragraph appeared in a Newcastle paper : — 
 
 " THE NEW BANK PROJECT. 
 " We are promised a reopening of the District Bank under new auspices. The time of opening is 
 uncertain, it was expected this week — and we are informed that the arrangements for it are still in 
 
 J* 
 
[282] 
 
 progress. A private partnership, composed of gentlemen holding a heavy stake in the suspended 
 bank, propose to carry on the business, partly on their own account, and partly on behalf of the 
 general body of shareholders. This arrangement, from the success which has attended it in the case 
 of the Union Bank, is regarded with considerable favour, and it would at all events, tend to relieve 
 parties who are inconvenienced by the late suspension. . . . The New Bank will start, we 
 presume with sufficient to meet the wants of a moderate and legitimate business. Its promoters are 
 men of respectability and influence, they labour however under the disadvantage of being liable for 
 no slight proportion of the claims of the original undertaking, and on this account, they can hardly 
 look — just now, at least — for the confidence and support which parties otherwise situated would have 
 readily obtained." 
 
 The gentlemen who thus banded themselves together were : — Joseph Hawks 
 of Gateshead, John Grey of Dilston, Jonathan Priestman of Shotley Bridge, 
 Alderman James Sillick of Newcastle, John Brodrick Dale of South Shields, and 
 Jonathan Priestman, jun., who upon Saturday, December 12th, 1857, utihsed the 
 premises and a few of the clerks of the recently closed District Bank, and offered 
 themselves to the public as bankers under the above firm. After a short time the 
 bank was moved to St. Nicholas' Square. 
 
 For a few months a small business was done, but the disadvantage mentioned 
 above proved insurmountable. Just five months after the opening, the firm 
 issued the following circular, which fully explains their position : — 
 
 BANK, Newcastle-upon-Tyne, May ISth, 1858. 
 We have to intimate to you our intention of relinquishing our business as Bankers. Our Banking 
 House will remain open for the present, but only for the purpose of discharging the demands upon us, 
 and for the receipt of the sums due to our Firm. 
 
 It is with reluctance that we have come to this decision ; but we have felt that, after the 
 publication of the Accountants' Report on the position of the Northumberland and Durham District 
 Banking Company, we could not, with so many of our partners liable as Shareholders in that concern 
 calculate upon inspiring that amount of confidence requisite to justify the continuance of our 
 operations. 
 
 In opening the Bank we were desirous, by the appropriation of a large portion of the anticipated 
 profits, to relieve to the utmost of our power the Shareholders in the District Bank ; and the short 
 experience we have had abundantly proves that had we been enabled to continue our business, the 
 position of those Shareholders might thus have been materially alleviated. 
 
 We are deeply sensible of the confidence which you have reposed in us, and we anxiously hope 
 that our determination may not cause even temporary inconvenience to those who have so kindly 
 supported us. 
 
 We remain, 
 
 Your obedient Servants, 
 
 HAWKS, GREY, PRIESTMAN, & CO. 
 
 All the partners, with the exception of Mr. Dale, finally retired from the 
 banking world, but the latter gentleman soon after commenced the business of 
 Dale & Co., bankers, South Shields, and under that heading an account of him will 
 be found. 
 
[^83j 
 
 Iba^e, Xeatbam, 1bo^g60^, MalF^cr, S, %\etcx. /loaiton, (Xc 
 
 MALTON, WHITBY, AND SCARBOROUGH BANK. 
 
 Founded 1792. Partners. Extinct prior to 1816. 
 
 Information incomplete. 
 
 A YORKSHIRE paper announces under June 19th, 1792, "A bank was 
 opened at Malton, Scarbro', and Whitby, under the firm of Hayes, 
 Leatham, Hodgson, Walker, and Lister." Their London Agents were 
 Messrs, Harrison & Co. On April i8th, 1793, they stated that "all Drafts and 
 Notes drawn by Messrs. Hayes, Leatham, Hodgson, Walker, and Lister, 
 addressed payable at Messrs. Robert and Thomas Harrison & Co., will be paid 
 by Messrs. Bond & Son, Bankers in London." In 1794, they advertised themselves 
 as willing to receive contributions towards the fund being raised for the internal 
 defence of the country. In the list of bankers for 1805, they appear as Hayes Sl Co., 
 at Malton, and there is a Lister & Co. at Scarborough, presumably the junior 
 partner in the previous firm ; the London Agents in both cases being Bond & Co. 
 In 1 8 1 6 they do not appear amongst the Malton bankers, and at Scarborough they 
 are described as Listers, Moorson, & Co. ; London Agents, Bond & Co. I 
 therefore presume that they relinquished the Malton business at some date between 
 those named. In 1823, under Scarborough, we find J. & R. M. Lister, 
 Moorson, & Co. London Agents, Bond & Co. 
 
 THOMAS HAYES, the originator of the firm, came from Whitby, where he 
 owned St. Hilda's Terrace, in which he built the first house. During the time of 
 the wars towards the end of the last century, he was the owner of several 
 privateers, one of which he personally accompanied. On one occasion when he 
 returned after a very successful voyage, he found that his wife had spent all the 
 available money that he had left on shore, in gambling at cards with a Lady 
 Compton. This led to a separation between Hayes and his wife, and the house at 
 Whitby was divided into two establishments, some of the rooms crossing each 
 other. At the present day the division remains, the house being held by different 
 owners. Hayes subsequently built Aislaby Hall, near Pickering. 
 
 The old privateer and banker had no family ; two nephews were the probable 
 inheritors of the property, they being alternately in great favour with their uncle. 
 To save anxiety, and the trouble of "nursing" the old gentleman, they hit upon 
 the novel expedient of secretly agreeing between themselves, that whichever of 
 them proved the final favourite and inherited the money, he would divide the spoil 
 equally with his brother. Eventually the elder nephew inherited the property, 
 
, [284j . 
 
 and honourably carried out the compact. The death of Mr. Hayes is announced 
 thus : — " 1 8 10, July ist, died at Aislaby Hall, near Pickering, Thomas Hayes, Esq., 
 aged 84, one of His Majesty's Justices of the Peace, and Deputy Lieutenant for 
 the North Riding of Yorkshire." 
 
 Mrs. Dorothy Hayes was resident owner of Aislaby Hall in 1 840. Descendants 
 of the family are still residing at Whitby. 
 
 ISAAC LEATHAM was a land agent at Appleton-le-Street, where he held 
 property. With others he purchased an interest in the Marquis of Salisbury's 
 Tinnington estates. He subsequently went to Pontefract, and established the 
 firm of Messrs. Leatham, Tew, & Co. of that town. His son William was for 
 many years a member of the Pontefract firm ; he died at Leamington, where he 
 had gone for change of air, October 19th, 1842, aged 58. He was buried in the 
 Friends' burying-ground at Pontefract. Many members of the family belonged to 
 the Society of Friends. 
 
 The " Book of Autographs " of Mr. J. Ord has the signature of Isaac Leatham. 
 Against it is noted, "A Land Agent and Banker of Malton in Yorkshire, 1800." 
 There is also the signature of Henry Leatham, " A Gentleman and a Banker, and 
 son of Isaac Leatham, Esq., of Malton, one of the Society of Friends." 
 
 The Mr. Hodgson in the firm was previously a partner in Clarke, 
 Richardson, & Hodgson, subsequently Richardson & Holt (whose business was 
 taken over about 1847 by the York City and County Bank). An account of him 
 will be found under the first-named bank. 
 
 Ibobolf^in, Barnett, pcaee, S, ©pence. Bewcastie-upon-usne. 
 
 Founded 1859. Partners. 
 
 Thomas Hodgkin. Robert Gurney Hoare. 
 
 William Edward Barnett. Newton C. Ogle. 
 
 Johi William Pease. Charles James Spence. 
 
 Robert Spence. Howard Pease. 
 
 THE firm of Hodgkin, Barnett, Pease, & Spence, began business on the 
 14th March, 1859. It came into existence owing to the failure of the 
 Northumberland and Durham District Bank in the autumn of 1857, which 
 left a void in the banking world that seemed to invite the formation of a private 
 bank, joint stock banks being for the time somewhat unpopular in the district. 
 
o 
 
 a. 
 
 
 
 o 
 
 
 00 
 
 ^ ^ 
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 z 
 
 H 
 OS 
 
 < 
 
 ,11: 
 
 hn 
 
 
 ^ 
 
 o 
 
 ^H 
 
 ^ 
 
 s 
 
 tt^ 
 
[285] 
 
 The original members of the firm were : — Thomas Hodgkin, son of John Hodgkin 
 of Lewes, Sussex, barrister-at-law ; Wilham Edward Barnett, son of Robert Barnett 
 of Blackheath, stockbroker, and nephew of the senior partner in the firm of 
 Barnett, Hoare, & Co., bankers, London ; John Wilham Pease, son of John 
 Beaumont Pease of Darlington, who, with his father and uncle, was one of the 
 original promoters and largest shareholders in the Stockton and Darlington railway ; 
 and Robert Spence of North Shields, bank manager. Mr. Spence was the eldest son 
 of Robert Spence, partner in the firm of Chapman & Spence, afterwards absorbed in 
 the Union Joint Stock Bank. On the failure of that bank (in which nearly all the 
 members of his family were shareholders), Mr. Spence devoted all his energies to 
 the business of the new bank, which was formed upon its ruins, and out of the 
 profits of which a considerable return was made to the shareholders who had 
 suffered by the previous failure. The conversion of this business into a private 
 bank (under the style of Messrs. Woods, Parker, & Co.), left Mr. Spence at liberty 
 to join the new firm of Hodgkin, Barnett, & Co., in which he was for nearly thirty 
 years the most active partner. 
 
 The firm began business in the buildings on the south side of St. Nicholas' 
 Square now occupied by Mr. Franklin's shop. In September, 1 86 1, they removed to 
 premises in the Town Hall Buildings (formerly occupied by Hawks, Grey, 
 Priestman, & Co., and now by the Rate Office 
 of the Newcastle Corporation), and from thence 
 on the 26th September, 189 1, they removed to 
 the new buildings in Collingwood Street, which 
 they had erected on the site of the old Turf 
 Hotel. 
 
 Of the original firm only two partners — 
 Messrs. Hodgkin and Pease — now survive. Mr. 
 Barnett died of scarlet fever at Bywell, in 
 March, 1869, and was succeeded in the firm by 
 Robert Gurney Hoare, son of Mr. John Gurney 
 Hoare, who was then the senior partner in the 
 firm of Barnett, Hoare, & Co., who with their 
 successors, Lloyd's Banking Company, Limited, 
 have been always the London correspondents of 
 the firm. At the same time Newton C. Ogle, of 
 Kirkley Hall, joined the firm, but retired a few 
 years later. The partnership now consists of the three gentlemen above-named 
 
 WlLIilAH EDWABD BABNBTT. 
 
[286] 
 
 BOBEBT SpENCE. 
 
 with Charles James Spence, son of Mr. Robert Spence, and Howard Pease, 
 
 son of Mr. J. W. Pease. 
 
 From the first establishment of the business, 
 there have been branches at North and South 
 Shields. To these in course of time have been 
 added Morpeth, Alnwick, Rothbury, Shotley 
 Bridge, Consett, Jarrow, Blyth, Wallsend, 
 Bellingham, and Amble, with sub-branches at 
 Stanley, Annfield Plain, Byker, Westgate, and 
 Ashington. 
 
 Mr. Robert Spence died in 1890. The 
 Bankers Magazine for October of that year 
 contains an obituary notice regarding him, from 
 which I extract the following : — 
 
 " Having made arrangements with Messrs. Hodgkin, Barnett, 
 
 and Pease, he commenced business with them as a private 
 
 banker on the 14th of March, 1859. Branches were shortly 
 
 opened at North and South Shields, and eventually in most 
 
 of the towns of Northumberland and Tyneside. In the 
 
 new firm thus constituted, (Hodgkin, Barnett, Pease, and 
 
 Spence) Mr. Spence, in right of his long and valuable 
 
 experience, naturally took the lead, and till shortly before his death he continued one of the most 
 
 active partners. He has seen four generations of his family engaged in practical banking, his 
 
 son having entered the bank in 1866, and his grandson in 1889. 
 
 After his serious illness in early life, he was unable to take any active part in public affairs, and 
 his close attention to business would alone have rendered this impossible. His holidays were always 
 spent in exploring some new district of his native country, and his leisure at home in the study of his 
 various bibliographical and antiquarian collections. After the death of his wife, twelve years ago, his 
 health steadily declined, and for some months preceding his death, he was unable to attend to business. 
 We may say a word or two, in conclusion, as to the business character of one who, of late years, 
 might fitly be styled the Nestor of banking in the North of England. His diagnosis of an account (if 
 a medical simile may be pardoned), was unusually clear and correct. When he was in his vigour, few 
 men could equal him in the instinct with which he scented out accommodation transactions, or in his 
 perception of the fact that a customer was no longer deserving of the banker's confidence. Naturally 
 of a somewhat impetuous disposition, he was on principle gentle and courteous to his customers, even 
 when their applications had to be most steadily refused. ' Take things by their smooth handle,' was 
 a proverb which he often quoted, and continually exemplified in practice. 
 
 Towards his clerks, and all in any way dependent upon him, he was the most generous and 
 considerate of employers. The trouble which he himself had gone through from broken health and 
 the shipwreck of the Union Bank, had given him a vivid sympathy with the difficulties of persons of 
 slender means ; and the acquisition of wealth did not, as is sometimes the case, deaden this sympathy, 
 but rather seemed to quicken and intensify it. It may seem like the utterance of a conventional 
 commonplace, but it is in an unusual degree true of him, that by his death all who were brought into 
 intimate relation with him, as partners, clerks, or customers, feel that they have lost a friend, and one 
 whose loss will not be easily replaced." 
 
[287] 
 
 Ibutcbineon, 6covqc, Zboume, anb 1benr^, stocftton. 
 
 Founded 1785. TEES BANK. Failed 1826. 
 
 Partners. 
 
 George Hutchwson. Henry Hutchinson. 
 
 Thomas Hutchinson. John Hutchinson. 
 
 Henry Hutchinson. Thomas Place. 
 George Hutchinson, jun. 
 
 THE founders of this establishment were George, Thomas, and Henry- 
 Hutchinson, brothers, who opened their doors as bankers in 1785. 
 Previously (1776), George was a timber merchant.* In February 1788, 
 they are recorded as Thomas Hutchinson & Co., Tees Bank, and as such pay 
 £1 IS. into Messrs. Backhouse & Co., Darlington, towards the fund for the 
 Abolition of Slavery. They are also met with in the books of R. & J. Campion, 
 bankers at Whitby, as Thomas Hutchinson & Co. In the course of time the 
 original partners retire or die out, and are succeeded by George Hutchinson, jun., 
 and Henry Hutchinson, sons of the senior partner, and John Hutchinson, son of 
 John Hutchinson of Penrith, and cousin of George and Henry. Subsequently, 
 Mr. Thomas Place, timber merchant of Stockton, was admitted to the bank, the 
 style of the firm becoming Hutchinsons and Place. 
 
 Very little can be recorded of the bank from birth to burial. They weathered 
 the years of panic until 1825, when towards the end of December of that year, 
 their London Agents, Messrs. Pole & Co., succumbed to the pressure of the times ; 
 and upon January 2nd, 1826, Messrs. Hutchinsons and Place, had to suspend 
 payment, and were soon added to the list of bankrupt bankers, the members of 
 the firm then being, " George Hutchinson, John Hutchinson, Henry Hutchinson, 
 and Thomas Place, all of Stockton-upon-Tees, Bankers." 
 
 A writer of the day says : — 
 
 "The failure created the greatest astonishment. It is recorded that only a little before the 
 stoppage, farmers and country people actually ran to exchange Backhouse's and Skinner's notes for 
 Hutchinson & Co.'s. Everybody thought he was safe with them. Hutchinson's was a great Bank for 
 deposits ; the amount was greater than that of any other in the north except the bank of Sir M. W. 
 Ridley & Co." 
 
 It is announced on February 22nd, 1826, 
 
 " All Persons indebted to the late firms of Hutchinsons and Place, bankers, and Place and Hutchinson, 
 timber merchants, at Stockton upon Tees or Thomas Place separately, are requested to pay their 
 respective debts to the assignees, at the late Banking House in Stockton aforesaid." 
 
 ♦ The Churchwardens' Accounts for Northallerton Church have—" 1780. Paid horse hire for W. Thompson to 
 Stockton to buy planks and deals for seating the church 8/6, paid Messrs. Webster and Hutchinson 60 deals £6, 
 
 4 planks 14/- paid." 
 
[288] 
 
 On Monday, 20th of March, the sale is announced " For ready money 
 only," of the stock of timber, consisting of " Memel, American, and Norway 
 Timber, Deals, &c." A few days before, namely, upon March 15th, "at the 
 house of Mrs. Martha Howson, the Black Lion Hotel," were sold by order of the 
 assignees of John Hutchinson and Thomas Place 
 
 " a most desirable Freehold Estate at Cleveland, consisting of a messuage or Dwelling House called 
 Worsall Hall, suitable for the residence of a genteel family, with Gardens, Pleasure Grounds, and 
 Plantations, comprising about 5 acres, lately occupied by Thomas Place. . . . Also Warehouses, 
 Granaries and Quay at Worsall 87 Acres of Excellent land now in the occupation of Thomas Place, 
 John Lodge, Luke Walker, George Cummins, John Mudd, and Thomas Atkinson. Also one undivided 
 moiety or half-part of the Corn Tithes of Worsall, etc., etc. Also a compact and very eligible Freehold 
 and Copyhold Estate, called Grassy Nook, in the parish of Norton, Dwelling House and 41 acres of 
 land, lately occupied by John Hutchinson. Also a Freehold dwelling house in Stockton, occupied by 
 Wilson Toplin. For further particulars apply to Mr. Wright, Solicitor, Stockton." 
 
 A serious dispute arose between two of the bankrupts regarding the reported 
 destruction of some of the firm's books, which drew forth the following 
 advertisement : — 
 
 " Hutchinson & Place's Bankruptcy. — Whereas a report has been industriously circulated that I, 
 the undersigned Thomas Place, one of the partners in the above firm, had burnt my books of account, 
 I, the said Thomas Place, feel it a duty which I owe to the public and my own character, to contradict 
 so base and scandalous an assertion, and to state that I have delivered to my assignees nineteen day 
 books, ten ledgers, and various other books, papers, and writings, which contain a just and true account 
 of all business transacted, and monies received and paid by me, during the time that I was a partner 
 in the above firm, and for several years previous thereto, and that the said report is totally false and 
 unfounded, and has been maliciously and unjustly propagated with a view to injure me in the 
 estimation of my Creditors. 
 
 Worsall, near Yarm, ii2nd February, 1826." 
 
 Mr. Hutchinson rephed in a letter, dated February 28th, 1826. It is too long 
 to give in full. He speaks of a letter 
 
 " of so extraordinary a nature as to require my candid and prompt explanation, for I am the person he 
 alludes to and denounces as the author of the ' base and scandalous assertion ' of his having burnt his 
 books of account." 
 
 Mr. Hutchinson states that upon his return from London after the docket 
 had been struck, he called upon Mr. Place and asked to see his pass-book. 
 
 " To my surprise and astonishment he told me he had not one. ' Have not one ! ' replied I, 
 ' impossible I I know you have had two books of this description.' ' No, I have not had one for many 
 
 years,' was his reply. ' Good G , and can you have lost a book of such consequence ; the thing is 
 
 impossible — incredible ; and I beg (for your own sake) that you will find it.' " 
 
 A long account follows containing charges and counter-charges. Eventually 
 all the books were handed over to the assignee. How the assets of the bank were 
 realised, and what dividend was paid, I am unable to record. 
 
_^ [289] 
 
 The Tees Bank had a considerable note issue. Very recently two of these 
 notes were presented in payment by a country dealer to a wholesale firm in 
 Newcastle. The notes are before me ; one bears date September 6th, 1817, and 
 is payable to Thomas Swinburne, Esq., and entered by G. T. Hutchinson. The 
 other is dated May 13th, 1825, and is payable to Warcop Consett, Esq. (see 
 Peirse, Consett, Topham, & Walton, of Northallerton), and entered by G. H. 
 Swaine. Both notes have the following endorsement on the back : — " At the 
 Black Lion Hotel, in Stockton, August 24th, 1826, exhibited as under a renewed 
 Commission of Bankruptcy against George Hutchinson, John Hutchinson, Henry 
 Hutchinson, and Thomas Place, Bankrupts. Marshall Robinson, R. Pulman, John 
 Thomas Sanderson." The corners of the notes are clipped off. 
 
 The Hutchinsons were an old Stockton family. 
 
 GEORGE HUTCHINSON was Mayor of Stockton, 1776 and 1777 ; he 
 was one of the committee of the Subscription Library established in 1791. 
 
 GEORGE HUTCHINSON, Jun., contracted a marriage that brought him 
 into some trouble. The Newcastle Chronicle of June 29th, 1793, says : — 
 
 " George Hutchiason, jun., Esq., of Stockton was brought into the Court of Chancery on Wednesday 
 se'night, he having taken a Miss Dawson niece of the late Mrs. Duyenes on a matrimonial trip to Gretna 
 Green. The young lady is a ward of the Court, and for this offence the Lord Chancellor committed 
 Mr. Hutchinson to the Fleet Prison." 
 
 In 1796, when all the country was arming and forming volunteer corps, 
 Stockton was not behind-hand, G. Hutchinson, jun., taking an active part in. the 
 matter. In 1803 he was a Captain in " The Loyal Stockton Volunteers." In 1805 
 and 1806 he was Mayor of Stockton. He died at Whitton, May 19th, 1856, aged 
 88. His brother HENRY HUTCHINSON was Mayor 1816 and 1817. He 
 died at Douglas, Isle of Man, April 14th, 1847, aged 68. 
 
 HENRY HUTCHINSON, one of the founders, died October 14th, 181 1. 
 
 JOHN HUTCHINSON, cousin to George and Henry, was a lieutenant in 
 the Loyal Stockton Volunteers, and was elected Mayor of Stockton in 18 10. 
 The family were related to Wordsworth, the Poet Laureate, he having married 
 Miss Mary Hutchinson, sister of John, and it was during a visit to his brother-in- 
 law at Stockton that Wordsworth wrote " The White Doe of Rylstone " 
 (December, 1796). Mrs. Wordsworth's poetic appreciativeness, manifest to all 
 who knew her, is attested by the poet's assertion that two of the best lines in the 
 poem of " The Daffodils " were her composition — 
 
 " They flash upon that inward eye 
 Which is the bliss of solitude " — 
 
[^90] 
 
 A few years subsequently, John Hutchinson turned author, and in 1822 
 pubhshed a httle work entitled, " Origin and Pedigree of the Stockton Shorthorns, 
 with remarks, an appendix, and a supplementary essay ; the whole intended to 
 elucidate many points necessary to be known by south-country breeders and 
 amateurs." * 
 
 Probably the banker had caught some of the poetic flame from his brother-in- 
 law, as he soon afterwards published odes fired with patriotic fervour, entitled, 
 '* Carmina Voluntaria, being Odes on the Royal Trip to Scotland, and the King's 
 Return." (T. Eeles, printer.) One stanza will show the nature of the poem :^ 
 
 "NEPTUNE, HO! HO!! 
 Thy rugged features smoothe into a smile ; 
 Proud day for thee and for thy kingdoms this, 
 Whilst George the Fourth, ' King of the mighty isle,' 
 
 (Salute him, Neptune, with a smile,) 
 Ploughs thy green ocean's deep abyss, 
 Great George the Fourth, Britannia's King, 
 Well deserves thy welcoming ! 
 
 Neptune, ho ! ho 1 1 " 
 
 In 1824 John Hutchinson was a member of the Stockton Corporation, and at 
 a meeting of that august body held April 27th, a petition to Parliament against the 
 proposed "Northern or Tees and Weardale Railroad" was moved by Mr. Rd. 
 Jackson. A petition in its favour was moved as an amendment by Mr. Crowe, and 
 seconded by Mr. John Hutchinson, the banker and his friends winning the day. 
 Mr. John Hutchinson died in 1833, ^g^d 65. 
 
 On January 31st, 1824, a robbery of an extraordinary nature was committed 
 upon this bank. Accounts of it are given in nearly all the local histories, which 
 while agreeing in the main particulars, vary so much in detail that it is difficult to 
 get at the exact facts. The case appears to be as follows : — 
 
 Messrs. Hutchinson were in the habit of sending at stated periods a confidential clerk from Stockton 
 to Sunderland and Newcastle to effect exchanges as might be required in bills, notes, or coin. 
 Probably the clerk always left by a certain coach at a fixed time. About 3 o'clock in the morning of 
 the day named, Mr. John Dobson, clerk in the Tees Bank, opened the door of the York and Newcastle 
 coach on its arrival in Stockton, when a passenger alighted wrapped in a heavy overcoat, discharged 
 his fare, and leisurely walked away. The banker's clerk placed under the seat his portmanteau or box, 
 containing effects to the value of £5,000. The coach being empty, he retired into the Inn for some 
 refreshment ; keeping a watch upon the conveyance while so doing. Soon after this the coach 
 started ; in due time Sunderland was reached, when much to his dismay, Dobson discovered that his 
 package was missing. A hue and cry was instantly made— one young gentleman who had been his 
 travelling companion part of the journey was the only person who could be suspected; he was tracked 
 by the police from place to place for some days, and at last was arrested on suspicion at the Turf 
 Hotel, Newcastle, but after great trouble and delay he so conclusively proved his high character and 
 
 * In prose and verse (W. Eobinson, Printer). 
 
[^9i] 
 
 position that the matter was abandoned. Advertisements were inserted in the London and Stockton 
 papers, announcing that a box containing a large sum of money had been lost, and offering a handsome 
 reward for the recovery of it. No answers came in response to the advertisements although they were 
 often repeated, and at last the matter was given up. Some time afterwards, the bankers received a 
 letter from London in which it was stated that the writer knew of a box being found at Stockton on 
 the night of the loss — and that the same should be returned with the contents intact, in exchange for 
 a draft of £2,000 and £700 more for expenses. This looked so like compounding a felony— that a 
 contra offer was made, but no response received. Eventually the full terms were agreed to, and 
 documents binding the bank were forwarded to London. Some hours before the mail returned, a 
 gentleman entered tho office, bowed politely to the manager, and produced the missing box and the 
 agreement ; whereupon he was paid the stipulated amount of £2,700. He then left without uttering 
 a syllable, entered a chaise drawn by four horses that was standing at the door, and posted back to 
 London the same way that he came. A short time afterwards Mr. Hutchinson received a case of wine 
 from London, also a note thanking him for his good faith, and stating that the expenses of the writer's 
 party in the transaction had been very heavy as they had previously made four attempts before they 
 succeeded. There is no doubt that the whole robbery had been well planned, and that when the 
 clerk at Stockton let out * the only passenger ' by the coach, the said individual passed round to the 
 other side of the conveyance, opened the door, abstracted the box, and at once made for London in a 
 chaise and four that was in attendance. 
 
 The following are some of the bills that were thus recovered : — 
 
 " David Carrick, Carlisle, £10 lOs. 7d. ; Charles Smith on John Rayne, Newcastle, £23 4s. ; George 
 Coverdale, Stokesley, on T. Temple & Co., Newcastle, £100 ; ditto on IMatthew Renwick, Newcastle, 
 £46 9s. 4d. ; ditto John Hodgson, Newcastle, £20 ; ditto on Samuel, Newcastle, £24 lis. 7d. ; 
 R. Wood, Wynyard, on T. & G. Hutchinson, Sunderland, £352 ; John Reed, Yarm, on Thomas 
 Morland, Newcastle, £25 17s. 6d. ; ditto on W. Marley, Newcastle, £80 14s. 6d. ; T. Wetherell, 
 Durham, on Mark Hopper, Durham, £10 5s. ; George Coates, Norton, on John Riseborough, 
 Sunderland, £77 5s. ; T. P. Wimberley, Doncaster, on Slessrs. Jowsey, Sunderland, £7 5s. ; ditto on 
 John Oyston, South Shields, £6 13s. Id." 
 
 Ibutton, ®tbcr, Si do. iRicbmonD. 
 
 RICHMOND AND SWALEDALE BANK. 
 
 Converted into Swaledale and 
 Founded prior to 1805. Partners. Wensleydale Banking Co., 1836. 
 
 ^ohn Hutton. — Ellis. 
 
 — Wood. Thomas Simpson. 
 
 Thomas Other. Christopher Other. 
 John Rohson. 
 
 CLARKSON'S "History of Richmond" states :— 
 " Shambles— a little lower down the street is the New Bank of Hutton, Other, and Simpson* 
 established in 1806, and enjoying the full confidence of the public. They are the Deputy- 
 Receivers of Taxes for the North Riding of Yorkshire, which circumstance makes their Banking 
 concerns very extensive." 
 
[292] 
 
 I have reason to believe that the bank was commenced rather earlier than the 
 date given, at any rate so far as Leyburn was concerned. Another local historian says : — 
 
 " A little lower down the street is the New Bank of Messrs. Hutton, Wood, & Co., where every 
 accommodation is met with in a very liberal and polite manner." 
 
 By 1812, the firm had grown to the full complement of six partners. 
 
 V v_ . — 
 
 .s% 
 
 KiT' '-JiC' I. / ^ 
 
 Upon a recent visit to Richmond, I was shown a guinea note, dated 
 December 5th, 18 12, signed "For Hutton, Wood, Other, Robson, Ellis, and 
 Simpson, Thomas Simpson." It was found in 1890 in a drawer of an old piece of 
 furniture at Leyburn, cashed in honour by Capt. Other of Coverham, and given by 
 him to Mr. Ness Walker, manager of the Swaledale and Wensleydale Bank, by whose 
 kind permission I am able to produce a fac simile. Subsequently I interviewed 
 Mr. CHRISTOPHER OTHER (locally known as Capt. Other) at his retreat at 
 Coverham Abbey, and from my conversation with him, gathered much of my 
 knowledge of the bank. Mr. Other was born in 1809, and when I saw him was 
 in his 84th year. 
 
 Of the early proprietors, I gathered that Mr. JOHN HUTTON was of 
 Marske Hall, Richmond, a considerable landed proprietor. At his coming of age, 
 September 24th, 1795, " an elegant entertainment and ball were given to the ladies 
 and gentlemen of the neighbourhood of Marske Hall, the family seat." 
 
 Mr. WOOD was of West Burton ; he did not remain in the firm very many years. 
 
 THOMAS OTHER (the fether of my informant), was of Elm House, 
 Redmire ; born 1769, died November 15th, 1834 j ^^^^ was actively connected with 
 the bank until his decease. 
 
[^93] 
 
 JOHN ROBSON (of whom more anon), and . . . ELLIS were both 
 from London. THOMAS SIMPSON was of Richmond. 
 
 The bank did a small but prosperous business. The quiet dales of Yorkshire, 
 prior to the days of railways and telegraphs, were unmoved by the panics that from 
 time to time agitated the busy centres of commerce. The notes were always held 
 with confidence, and Mr. Other knew of no " run " ever occurring through want of 
 specie. Being deputy-receivers for the Inland Revenue, they had twice a year to 
 attend upon the Collector at all places of any importance in the North Riding 
 of Yorkshire. Mr. Christopher Other had paid many visits on this business, 
 taking the precaution always to travel in the daylight, and at all times being 
 fully armed. The bulk of the receipt was in the notes of the local bankers, 
 which were exchanged for those of Hutton, Other, & Co., or converted into drafts 
 on London. Mr. Other still retains an active interest in the banking world as 
 Chairman of the Swaledale and Wensleydale Banking Co. He is a very extensive 
 land-owner, the Coverham property alone, which he inherited from the Listers, 
 comprising some 20,000 acres of land. Indulging somewhat in the eccentricities 
 pennissible to a country gentleman of the old school, he is, notwithstanding, 
 spoken of as a generous landlord, 20 per cent, being often returned upon rent day. 
 
 Mr. Thomas Other, one of the founders of the bank, was a Captain in the 
 " Loyal Dale Volunteers," in the early years of the present century, whom a local 
 writer describes thus : — 
 
 "tight little red coats, tight stiff stock, tight white nether integuments, old Brown Bess, and a 
 Volunteer as stiff as if he had accidentally swallowed the old girl's ramrod. But in the perilous times of 
 ' Old Boney,* the Wensleydale Volunteers proved themselves to he made of the right stuff. One night 
 the fire on Penhill sent forth its lurid blaze in response to a similar fire on Roseberry Topping, the 
 signal agreed upon to herald the announcement that the French had landed upon our shores. The 
 bugle was sounded — men were hastily mustered. Led by their gallant Captain, they made from 
 Redmire to Spennythorn, when Major Van Straubenzie took command. A short delay, to give time 
 to the men from out-of-the-way places — but soon every man was reported at his post, when the gallant 
 little band marched to Masham, the appointed place of rendezvous, here to be disappointed with the 
 news that the man on Roseberry Topping had raised a false alarm. In due time the Volunteers 
 received the thanks of both Houses of Parliament, for their prompt and smart response to the call of 
 danger." 
 
 I subsequently heard that the son of Mr. John Robson, one of the partners in 
 18 1 2, was living in retirement at Thornton Stewart. During a conversation with 
 him he informed me that his father was at the commencement of the century a 
 clerk with Messrs. Gosling & Sharp, bankers, London ; that he joined the firm of 
 Hutton, Other, & Co., and took the management of the bank at Leyburn ; that he 
 resided there at the bank, which was the house now adjoining the present 
 Wesleyan Chapel upon the west side, and in that house the eldest daughter, Ellen 
 
[^94] 
 
 Robson (afterwards Madame Santag) was bom on November nth, 1805. This 
 being the case, the bank had an earher foundation than quoted by Clarkson in his 
 "History of Richmond," viz., 1806, or the business at Leyburn must have been 
 started prior to that of Richmond. 
 
 Mr. Robson subsequently moved to the premises on the other side of the 
 road, now occupied by the Swaledale and Wensleydale Bank. One son and two 
 more daughters completed the family. Mr. Robson conducted the Leyburn Bank 
 until 18 1 9, and in that year, driving from Richmond to Leyburn, as he was leaving 
 the former place, his horse fell ; he was thrown out of his conveyance, and received 
 injuries to which he soon after succumbed. He was born January 3rd, 1774, 
 and married Frances Robson (born April i8th, 1781, died July 29th, 181 6). He 
 died November 22nd, 18 19. At the time of the accident my informant, 
 William Birkbeck Robson, was 1 1 years of age. Mr. Hutton had him educated 
 at Newby's School at Barningham, and made Marske Hall his home during the 
 holidays. After a long business career in York and London, he retired in 1868, 
 and now resides with his two maiden sisters at Thornton Stewart ; the trio being 
 octogenarians, but all vigorous and full of information. 
 
 For many years the London Agents of the bank were Messrs. Pole & Co., 
 who collapsed during the storm of 1825. The bank pursued the even tenor of its 
 way until 1836, when it was converted into a Joint Stock Company, under the 
 style of the Swaledale and Wensleydale Banking Company. 
 
 3nbU9triaI Bank, Ximiteb. mewcastie-upon-Usne. 
 
 Founded 1872. Failed 1876. 
 
 IN 1872 a bank was projected in Newcastle under the above name. The 
 Prospectus issued at the time will best explain the aim and purport of the 
 promoters. It states : — 
 
 " This company is formed with the object of supplying Banking facilities to Industrial Societies, and 
 to the trading and commercial classes generally, on the mutual principle. That principle, as applied 
 to Assurance, is well understood, and has had a large success. After providing for a reserve fund, all 
 profits above 10 per cent., will be equally divided between capital, and those members who are 
 customers and whose transactions with the company have been profitable. The Company proposes to 
 undertake all legitimate Banking business. Its operations will not be confined to Industrial Societies, 
 although both from them and from the general public it has already received promises of a large 
 amount of support. From a return ordered by the House of Commons to be printed on 26th April, 
 1871, it appears that of 1,375 Industrial Societies, which had been registered to 31st December, 1870, 
 749 made returns. The number of members of these 749 Societies, was 249,113 ; the Share Capital, 
 
[^95] 
 
 £2,034,261, the Loan Capital £179,128, the amount received in goods, £8,202,466. The value of 
 buildings, fixtures, and land, £962,276 ; the capital invested with companies incorporated under the 
 Companies' Act, £204,696 ; and the disposable net profit realized from all sources during the year, 
 £555,435. In Northumberland there are 27 Industrial Societies which gave returns, with 12,426 
 members, a turn-over of £384,617, and net profit amounting to £28,479. In Durham the numbers 
 were — Societies, 42 ; members, 18,019 ; cash received for goods, £509,584 ; profits, £47,338. 
 
 . . . The Directors guarantee that the Company will commence business with the entire 
 Capital perfectly intact, the whole of the preliminary, legal, and other expenses being covered by the 
 fund created by the payment of 1/- per share, and any surplus therefrom will go to the formation of a 
 reserve fund. ... A considerable number of shares has already been applied for, but it is intended 
 that all bona fide applications shall be fairly considered, regard being had to priority of date of 
 application. 
 
 Capital. 
 
 Total Capital £250,000 
 
 Cash Capital, to be paid up £150,000 
 
 The capital of the Company is composed of Fifty Thousand Shares of £5 each, 10,000 of which 
 are now issued, £3 per Share to be paid as follows : — 11/- on application, 1/- of which will be devoted 
 to the payment of preliminary expenses, &c., 10/- on Allotment ; First Call of 10/- on 1st August, 1872, 
 the remaining Calls not to exceed 10/- per Share, and one month's notice to be given of each Call. 
 
 Provisional Directors— John Hunter Rutherford, William Douglass, John Curry, Joseph 
 France, George Fryer, Samuel Thompson, John Burnip ; Manager — Alexander Hannay ; London 
 Agent — The Alliance Bank, Ld. ; Solicitor — W. Brewis Elsdon ; Auditors — Benson, Eland, & Co. ; 
 Secretary (pro tern.) — John McPherson ; Temporary Offices, 4, Royal Arcade." 
 
 The shares appear to have been freely applied for, most of the large 
 Co-operative Societies in the district becoming holders. The doors of the bank 
 were opened for business on Monday, July 8th, 1872, the offices being at the south 
 side of the Pilgrim Street entrance to the Royal Arcade, the same premises that 
 had been occupied by the Newcastle Savings' Bank. A considerable business was 
 done, especially with the Co-operative Societies. In July, 1875, the report is as 
 follows : — 
 
 " The directors congratulate the shareholders that notwithstanding the depression of trade during the 
 half year, the bank has made steady progress. 801 new shares have been issued, and from the premiums 
 £100 has been added to the reserve fund, which now stands at £1,300." A net profit was shown of 
 £1,020, out of which it was proposed to pay a dividend of 3/- per share, or at the rate of 10 per cent. 
 per annum. 
 
 At the meeting held in January, 1876, a dividend of 1/6 per share was resolved 
 upon. Sundry questions were asked as to the bank's position in regard to the 
 Ouseburn Engine Works (started and carried on for a few years upon co-operative 
 principles), which had recently failed. The officials reported that there might be 
 a loss, though not greater than the reserve fund would cover. But dark days 
 were in store, and the Ouseburn Engine Works proved to be a mill-stone that 
 dragged the ill-fated bank to the ground. Early in October, 1876, rumours were 
 
[296] 
 
 abroad regarding the stability of the " Industrial" and on the 6th of that month 
 the following notice was posted on the doors : — " Pending the negotiations for 
 amalgamation with the Wholesale Co-operative Society, the business of this bank 
 will be suspended for a few days." 
 
 The business of the bank being greatly confined to the Co-operative Societies, 
 little public inconvenience was experienced by the stoppage. 
 
 A great number of meetings were held, complications arose between the 
 bank, the Co-operative Wholesale Society, and the Ouseburn Engine Works. 
 Eventually liquidators were appointed and the bank was wound up. On January 
 24th, 1877, a first dividend of 3/4 in the pound was paid. 
 
 Xantbton d, Co. TWewcastie-upon-xr^nc. 
 
 (see Davison-Bla?id & Co.) 
 
 Xaw6on, Sir 3obn, iRicbmon&. 
 
 RICHMOND BANK. 
 
 Founded 1792. Partners. Now Roper and Priestman. 
 
 Sir John Law son. Thomas Stapleton. William Priestman. 
 
 Miles Stapleton. Gilbert Stapleton. Henry C. Priestman. 
 
 John Robinson. Peter Constable Maxwell. George Roper. 
 
 George Kay. R. S. D. Rome Roper. 
 
 THIS establishment, which is now represented b)^ Messrs. Roper and 
 Priestman, is one of the very few private banks left in North Yorkshire, 
 It was originally commenced by Sir John Lawson and Miles Stapleton, Esq., 
 gentlemen of high position in the district, who, I am told, were led to open 
 the bank by the thrifty people in the lovely dale of the Swale bringing their 
 savings, and asking them to take care of the money. It was established in 1792. 
 The earliest notice that I have of the firm is from a note for five guineas (fac simile 
 of which is produced on the opposite page), No. D5565, dated March 23rd, 
 
 1792, and signed, "For Sir John Lawson, Bart., Miles Stapleton, Esq., & Co. 
 John Law^son." Entered by C. Priestman (grandfather of the present proprietor). 
 Of this note more presently. 
 
 Their London agents at this time were Harrison and Co. On March 30th, 
 
 1793, the following advertisement appeared in the Newcastle Chronicle ;— 
 
 " Richmond Bank. All Drafts drawn by Sir John Lawson & Co. upon Robert and Thomas Harrison, 
 will be accepted and paid at the Bank of Messrs. Wright, Selby, and Robinson, Henrietta Street, 
 Oovent Garden, London." 
 
[297] 
 
 A note for one guinea, dated April, 179 (last figure torn off), is also signed 
 John Lawson. In the list of bankers for 1805 they are quoted as Lawson & Co., 
 London agents, Moffatt & Co. Sir John Lawson died June 27th, 181 1, aged 6y, 
 and soon afterwards the fimi became Stapleton, Robinson, & Kay. In the list of 
 banks for 181 6, they are named Stapleton & Co., Market Place, Richmond. 
 London agents, Barclay & Co. 
 
 ^.>;/?.xyi/ 'a \yj/iL\ 
 
 
 Clarkson in his " History of Richmond," written in 182 1, says : — 
 
 "In the Market Place there is also situated the Old Bank of Stapleton, Robinson, and Kay, a bank 
 conducted by gentlemen of well known property and respectable connections, established in 1792." 
 
 If the commencement of the bank were not prior to that date they must have 
 issued their notes pretty freely to have reached No. D5565 by March 23rd of that 
 year. A one pound note dated August ist, 1822, shows the partners then to be: — 
 Thomas Stapleton (son of the founder), John Robinson, and George Kay. The 
 note is entered by William Priestman. 
 
 In 1840 they are announced as Gilbert Stapleton, Market Place, Richmond, 
 who at that time seems to have been the sole proprietor. Upon his retirement in 
 1848, the bank was taken over by Peter Constable Maxwell, Roper Stote Donnison 
 Rowe Roper, and William Priestman. (The latter gentleman had for many years 
 been a confidential clerk in the establishment.) Their note issue then was ;^6,889. 
 On the death of Mr. Maxwell in 185 1, the business was carried on by the surviving 
 partners. At the decease of Mr. William Priestman, the firm became R. S. D. R. 
 Roper, Henry Christopher Priestman, and George Roper. Mr. R. S. D. R. Roper 
 died in 1868, and since then the business has been conducted by the present 
 partners, Mr. Henry Christopher Priestman and Mr. George Roper. 
 
.^ [J98] 
 
 Upon a recent visit to Richmond, I was shown the notes referred to. They 
 are from a set of seven notes for £c, 5s., all dated much about the same time, and one 
 note for one guinea. They were presented for payment on May 15th, 1874, 
 having then been found at Northallerton between two leaves of an old book. 
 They were duly honoured by the bank proprietors. The firm have issued notes 
 for ;^5 5s., £s> £^ IS., and £1. The £c^ notes are still in circulation. 
 
 Regarding the death of Sir John Lawson, in June, 181 1, a York Newspaper 
 records: — "Died at Brough Hall, near Catterick, Sir John Lawson, Bart. Dying 
 without male issue, the Baronetage and estates devolved on Henry Maire, Esq., 
 of Lartington, near Barnard Castle, his next brother. The goodness of his heart 
 was eminently distinguished by his universal benevolence, urbanity, and generosity 
 to his friends, tenantry, and to the poor, who never pleaded in vain. His loyalty 
 to his Sovereign in the most perilous times was evinced by raising the Catterick 
 Armed Association, and afterwards the Catterick and Richmond Volunteers. His 
 hospitality was unbounded, and the neighbourhood where he resided would, it was 
 said, long and severely feel the loss of so worthy a man and so excellent a 
 landlord. Sir J. Lawson though not deeply engaged on the turf, was the breeder of 
 several good racers, viz., Brough, Sir John, Quiver, Lady Brough, and Byker. 
 The meetings at Catterick and Richmond severely felt his loss, as he was the 
 promoter of every rational and exhilarating amusement in his neighbourhood." 
 
 Xtster Si Co. Scarborouab- 
 
 Founded prior to 1805. Partners. Failed 1822. 
 
 Information incomplete. 
 
 FROM the account of Messrs. Hayes, Leatham, Hodgson, & Lister (who 
 commenced a bank at Malton in 1792, with branches at Whitby and 
 Scarborough), there appears to be a strong probability that the junior 
 partner conducted the Scarborough branch, and subsequently left the Malton firm 
 and continued the business at the now fashionable watering-place, in conjunction 
 with other gentlemen. 
 
 In the hst of country bankers for 1805, is announced : — Lister & Co., 
 Scarboro' ; London agents. Bond & Co. In 18 16 they are recorded as Lister, 
 Moorson, & Co., their London agents being the same. In 1823 they are named 
 as J. & R. M. Lister, Moorson, & Co. Probably the information would be 
 
I 299] 
 
 gathered early in 1822, as on March 12th, 1822, amongst the bankrupts, I find 
 Wilham Moorson, banker, Scarborough, Yorkshire. That is the last record I have 
 of the firm. A few years afterwards, their London agents, Messrs. Bond & Co., 
 are likewise found in the Bankruptcy Court. 
 
 A £1 note of this firm dated fi-om Scarborough, July ist, 18 19, No. 734, is 
 signed for Lister, Moorson & Co., Wm. Moorson. On the left hand side is a small 
 vignette giving a view of the Castle. 
 
 Olonbon & mortbcrn Joint Stock Banfi, Xtmitc^ 
 IRewcastle-upon-Tr^ne. 
 
 _, n^ Newcastle Branch 
 
 Founded 1862. 
 
 abandoned 1864. 
 
 TN November, 1862, a bank was floated in Newcastle under the above 
 title. The first intimation of it is gathered from a circular marked 
 
 " (Private and Confidential.) 
 
 London and Northern Bank Limited. Capital £1,000,000. In 10,000 Shares of £100 each, of which 
 it is not intended to call up more than £20 per Share. First issue 5,000 Shares. 
 
 Directors — George Cobden, Esq., (Messrs. Cobden & Co.) London and Manchester. Thomas 
 Cotterell Esq., Director of the Bank of Hindustan. Thomas D'IfEanger, Esq., Director of the 
 London and Colonial Bank. J. T. Dobson, Esq., London and Hull, Sheriff of Hull. John Geary, Esq., 
 Director of the Metropolitan and Provincial Bank. J. W. Johns, Esq., Director of Newtown 
 and Oswestry Railway Co. Richard Kyrke Penson, Esq., Director of the Aberystwith and Welsh 
 Coast Railway Company. George Palmer Robinson, Esq., Director of the Alliance Bank of London 
 and Liverpool. Ralph Walters, Esq., Director of the Great Eastern Railway Company. Solicitors — 
 Davidson, Bradbury, Hardwicke, and Carr. Bankers — Metropolitan and Provincial Bank, 75 CornhiU, 
 London. Secretary — J. H. Duke, Esq., 75 CornhiU, London. 
 
 " The acknowledged deficiency of Banking accommodation in some of the most important 
 Towns in the North of England, and the advantages to be derived from the establishment of a General 
 Board of Management in the Metropolis, have suggested the formation of the London and Northern 
 Bank (Limited). . . . The Directors consider that, without attempting to carry on any kind of 
 Banking business within the Metropolis, the existence of a Board of Management in London, free 
 from local prejudices and influences, and simply enforcing the observance of strict Banking principles, 
 cannot fail to exercise a very salutary influence upon the ordinary temptations attendant upon 
 country Banking. It gives facilities, too, for the investment of capital, and affords many other 
 advantages which no purely provincial company can possess. The Directors, after careful consideration, 
 have selected Newcastle-on-Tyne and Sunderland as the most eligible towns in the North of England 
 for the commencement of their operations." 
 
[300] 
 
 Then follows a statement of the returns of the various trades of the district — 
 the number of banks then existing — the growth of the population — and cogent 
 reasons why a new bank was required — winding up with 
 
 " an extract from the Speech of the Chancellor of the Exchequer on the occasion of his excursion 
 down the Tyne on the 8th of October last. ' I know not where to seek even in this busy country a 
 spot or district in which we perceive so extraordinary and multifarious a combination of the various 
 great branches of Mining, Manufacturing, Trading, and Shipbuilding Industry, and I greatly doubt 
 whether the like can be shown, not only within the limits of this land, but upon the whole surface of the 
 globe.' " 
 
 It was proposed to call up only £20 per share, as the remaining ;^8o would 
 form an ample guarantee to the customers of the bank. 
 
 A second circular was subsequently issued embodying nearly all the old notice, 
 with the exception that £2^^ instead of £20 had to be called up, and stating the 
 Deposit on Application was to be £1 per share ; Payment on Allotment, £2 per 
 share. Calls not exceeding £^ per share at intervals of not less than three months. 
 A list of fifteen directors is given, but Messrs. D'Ififanger, Dobson, Geary, and Ralph 
 Walters, are the only names remaming out of the nine first announced. Two other 
 local names are added, Edward Temperley Gourley, Esq., Shipowner, Sunderland, 
 and William Pears, Esq., Fenham Hall, Newcastle.* The circular also states : — 
 "Negotiations are pending for the transfer of the business of two successful 
 Private Banks in the North of England, upon advantageous terms, which will be 
 submitted to the Shareholders." No mention is made of a branch at Sunderland ; 
 but Leeds, Newcastle, Hull, and Middlesbrough are the towns selected at 
 which to open establishments. 
 
 On November 26th, 1862, the Secretary, J. H. Duke, announced: — "No 
 further application for shares will be received after December 3rd." A few days 
 afterwards, they advertised for Managers for London, Leeds, Hull, Newcastle, 
 and Middlesbrough. At this time the following article appeared in a local paper :^ 
 
 " The London and Northern Bank, Limited, the prospectus of which has now been for some time before 
 the public — whatever its success elsewhere — may be pronouncad a failure in Newcastle, so far as the 
 obtainment of shareholders. ' Burnt bairns dread the fire,' and although this is to be a ' limited' company, 
 the Act under which it is to be established will, we fear, be found not very securely to limit the power of 
 the directors, for whose acts the shareholders will have to be to a large extent responsible. Nor is the 
 name of the only resident director calculated to attract customers to the bank when opened. The 
 managers of a bank should be men of strong and well-balanced minds, and all connected with it should 
 have the highest character for integrity and discretion. Of course no one will dispute the advantages 
 the bank may confer by bringing additional capital to the town. There can be no doubt that if it is 
 prepared to render assistance to enterprising tradesmen and others, it may gradually work its way into 
 public favour, but this must be done with a frank discrimination, and not with the spirit of a 
 pawnbroker's shop or of a usurious money-lender. The bank established a few years ago by Messrs. 
 Hodgkin, Barnett, Pease, and Spence, has we believe been eminently successful, but then the very 
 names of the partners gave them a favourable introduction." 
 
 * These gentlemen apparently resigned shortly afterwards. 
 
[30i] 
 
 The London and Northern Bank was eventually opened at Exchange Buildings, 
 Quay Side. Local Manager, Peter Davidson. Local Solicitors, Messrs. Ingledew 
 and Daggett. London Agent, Bank of London. The terms of business were 
 advertised thus : — 
 
 " Current Accounts. — Where the balance shall not at any time during the half-year have been below 
 £500, interest at the rate of £3 per cent, per annum will be allowed thereon, and if under £500 and not 
 below £200, interest will be allowed at the rate of £2 per cent, per annum. 
 
 Deposit Accounts. — Sums of £10 and not exceeding £100, will be received repayable without 
 notice, and interest allowed thereon. 
 
 Sums of £100 and upwards will be received and interest allowed thereon at the current rate of 
 the day subject to notice of withdrawal. 
 
 The utmost facilities will be given to parties keeping accounts with the bank for transacting 
 business between London and the principal towns in England, Ireland, and Scotland." 
 
 The Manager, Mr. Peter Da\idson, M'as not a stranger to Newcastle ; he was 
 formerly manager of the Commercial Bank. He had recently been inspector of 
 branches of the West of England and South Wales Banks. In 1864 the directors 
 announced that in compliance with a requisition addressed to them from Hexham, 
 " They beg to intimate that a Branch will be opened in that town on Monday, 
 nth April next, under the agency of Mr. William Taylor." Branches had 
 previously been opened at Morpeth (James Hood, agent), and Alnwick (Thomas 
 Duncan, agent). The life of the London and Northern Bank was not a very long 
 or a very happy one. 
 
 In October, 1864, the shareholders were informed that the directors had 
 entered into a conditional agreement for the amalgamation of their bank with 
 another banking company upon advantageous terms. A special general meeting 
 was held in Newcastle, Mr. Ralph Walters presiding, when formal resolutions 
 were passed for amalgamating with the Midland Banking Company. 
 
 The chairman showed the advantages that would accrue to the shareholders 
 from this arrangement. In response to a vote of thanks to the chairman and 
 directors for the way in which the business had been conducted, the chairman said 
 that whatever had been done by their manager had been in the interest of the 
 company alone, and the directors exonerated him from all blame. The reference 
 was to the fact that a risky and speculative business had been done, which had 
 occasioned heavy losses, the matter perhaps being brought to a climax by a certain 
 shareholder — Mr. Frederick Symons of 64, Lower Thames Street — who had filed 
 a bill to compel the company to wind up. It was stated that his object was only 
 a personal one, as had the directors purchased Mr. Symons' shares at par, 
 nothing would have been heard about the bill, and so strongly did the directors 
 feel this that they issued a summons against Mr. Symons for an attempt to extort 
 money. 
 
[302] 
 
 The case came on at the Mansion House before Mr. Alderman Stone, and the 
 account of it occupies three columns of the paper before me. Some extracts from 
 an article upon the matter give a good digest of the history of the bank. 
 
 " The facts made public yesterday regarding the London and Northern Bank, one of the numerous 
 family of companies concocted by practised promoters, who undertake the trouble at the rate of 
 £10,000 per company, are such as should convey further useful points of reflection to the subscribing 
 classes. 
 
 This concern was started in London, November, 1862, with a capital of £1,000,000, and branches 
 at Leeds, Newcastle, Hull, and Middlesbrough, and until last month nothing transpired of its 
 operations beyond the routine circumstances of appropriation being made for dividends and reserve, 
 and of previously unissued shares being offered at a premium. 
 
 At a meeting of creditors of Manual and Brillman, a failed firm, who showed liabilities for 
 £99,864, and actual assets for £6,504, it was then announced that the insolvents had been assisted by 
 the London and Northern Bank, who had made them advances — not in money, but by accepting 
 their drafts, or, in short, by the manufacture of accommodation paper. This was sufficient to give an 
 unpleasant insight into the mode of management, and yesterday many further particulars were 
 elicited by an examination which took place at the Mansion House, when a Mr. Symons, a share- 
 holder, was charged by the directors with having attempted to extort money by threatening to 
 publish injurious matters. 
 
 It appears that Mr. Symons when he found the shares had gone to a heavy discount, made 
 considerable efforts to induce the directors to buy him out at par. But it also appeared that the 
 manager at the Bank had at all events become a party to such a negotiation by telling him he would 
 see what he could do. At the same time it was far from clear that the publication threatened by Mr. 
 Symons was of the character to render him amenable to the charge on which he had been brought 
 up, and the magistrate therefore dismissed the summons. 
 
 On the other hand, nothing came out to affect the moral character of the directors. Indeed 
 they seem to have resisted the idea of making any compromise to procure silence with considerable 
 firmness. But the extent to which the question of their fitness for the management of a bank with a 
 million of capital was affected by their own admissions, and that of their Solicitor, is a point on 
 which the commercial public will perhaps entertain strong opinions. 
 
 In the first place their solicitor represented that the bank had been attended with ^absolute 
 success,' since up to September they were making a clear profit of £20,000 a year ; that during the last 
 eight weeks, it had been found there were losses of £35,000, and that this amount is not only of itself 
 • comparatively small for a bank under the circumstances,' but would be reduced by dividends. It is 
 also a peculiar kind of boast that a bank which had been making at the rate of £20,000 a year, by 
 discounting perilous bills, which when they come to be tested involve a reduction of one-third of the 
 assets, may be termed to have been up to the moment preceding the non-payment of the bills 
 ' absolutely successful.' In the next place, the facts that the director who attended to represent the 
 bank declares he was ' totally unaware that any discounting business was being done in London by 
 the bank,' and that he was also ignorant not only that it is highly improper for a bank to advance 
 money by accepting bills, but even of the possibility ' that a bank can be carried on without acceptances,' 
 are such as to deserve attention. Coupled with all the revelations of the past month, such things 
 might be expected to put a stop to the trade not only of the promoters of banks, but of a majority of 
 the other descriptions of companies that are brought out under analogous conditions." 
 
 The amalgamation with the Midland Banking Company was subsequently 
 arranged, but the Newcastle branch was abandoned. 
 
[303] 
 
 Xonbon Bank of Scotland), XD. mewcastie^upon-xcpne. 
 
 Founded 1864. Wound up 1865. 
 
 TALKING of banks, I understand we are shortly to have another one started 
 in Newcastle. The London Bank of Scotland is about to establish a branch 
 in St. Nicholas' Square, in the premises occupied by Messrs. Hodgkin, 
 Barnett, & Co. before they removed to their present place of business." 
 
 Such was the announcement made in one of the daily papers. The official 
 intimation in May, 1864, was : — 
 
 " London Bank of Scotland, Limited. Capital £1,000,000. An agency of this bank was opened in 
 the Bank Buildings, St. Nicholas' Square, on Monday, 2Dd May inst., under the management of 
 Samuel Hedley, Esq. By order of the directors, W. H. Logan, General Comptroller of Agencies." 
 
 This bank was opened in Berwick the November previous, with W. W. 
 Cargill, Esq., M.P. for Berwick, as Chairman of Directors. A year afterwards, the 
 establishments at Newcastle, Alnwick, Morpeth, Berwick, and Hexham, were 
 merged in the London and Scottish Bank, with a capital of ^500,000. Mr. 
 Cargill's name was dropped from the list of directors, and Mr. W. H. Logan was 
 appointed managing director for Scotland. He was the Berwick agent of the 
 Northumberland and Durham District Bank at the time of its failure, and then 
 started on his own account the Scottish Border Bank, the business of which Mr. 
 Alexander Logan conducted, as well as becoming agent for the London and 
 Scottish Bank at Berwick. 
 
 The London and Scottish Bank was " formed for the purpose of continuing 
 the business of the branches of the London Bank of Scotland, which had not been 
 included in the arrangements entered into between that bank and the Mercantile 
 and Exchange Bank of Liverpool." 
 
 Its business operations in Newcastle were very limited, and in less than five 
 months the bank suspended payment. The city article of the Daily News for 
 April 13th, 1865, says : — 
 
 " Some drafts drawn upon the London and Scottish Bank (Limited) remained improvided for on 
 Tuesday. This concern was formed in October, 1864, and its paid-up capital is only £25,000. 
 
 At Newcastle, where exists one of the principal branches of the undertaking, proceedings were 
 conducted as usual up to 11 o'clock yesterday morning, when, as announced in the third edition of the 
 Chronicle, business was suspended. The following telegram has been received by Mr. Hedley, manager 
 of the Newcastle branch : — ' B. Williams, London, to Samuel Hedley, Newcastle. Send by to-night's 
 post quarterly statement to 31st March, to enable us to complete arrangements with another bank.' 
 The head office is in the Old Jewry, London, and the various branches at Edinburgh, Dundee, Falkirk, 
 Jedburgh, Hawick, Berwick, Alnwick, Morpeth, Newcastle, and Hexham. The above telegram would 
 seem to indicate that the difficulty by which the bank has been unhappily overtaken, is but of a 
 temporary character, and that operations in connection with the undertaking will shortly be resumed." 
 
[304] 
 
 The stoppage in Newcastle caused little excitement, but at Berwick it created 
 considerable inconvenience. Seven petitions for winding up were immediately 
 presented, two of them by local firms, Thomas Richardson, trading as 
 M. Stenhouse & Co., being one, and Messrs. Woods & Co., bankers, the other. The 
 Master of the Rolls decided that there should be a compulsory winding up. 
 Subsequently (in January, 1870) Mr. William Hugh Logan made a considerable 
 claim for salary as late manager of the bank. He asked to be allowed to prove for 
 ;^2,400, "being three years' salary at ^800 per annum." Mr. Logan became 
 manager of the bank in 1864, under an agreement incorporated with the articles of 
 association, which provided that in the event of his ceasing to be em.ployed from 
 any cause except gross misconduct, he should be paid as compensation a sum equal 
 to three years' salary. The winding up commenced in May, 1865, when his 
 employment of course ceased. Counsel for the official liquidator " contended that 
 there ought only to be an inquiry what was proper to be paid by way of damages. 
 His Lordship said the termination of the employment by the winding up could 
 not have been contemplated when the agreement was made ; but the agreement 
 must be taken most strongly against the company, and as it clearly provided that in 
 the event of the cessation of Mr. Logan's employment from any cause except 
 gross misconduct, three years' salary should be payable, the claim must be allowed." 
 
 Xoraine, Sir (Tbaa, Si do mewcastie-upon-Ume. 
 
 (see Baker, Shafto, & Co.) 
 
 Xumlei?, Smitb, ^ Co. 
 
 STOCKTON AND CLEVELAND BANK. 
 Founded Prior to 1774. Partners. 
 
 Stocftton. 
 
 Failed 1815. 
 
 Benjamin humUy. Robert Wilkinson. 
 
 — Brown. George Snowdon. 
 
 Christopher Smith. John Frederick Lumley. 
 
 BANKING in Stockton probably commenced, as it did in so many other 
 places, by some monied and enterprising tradesman making small advances 
 to neighbours who required it, discounting a bill now and then for some 
 one who could not await its maturity, or holding the deposits of others in safe- 
 keeping upon some low rate of interest ; and thus almost unknowingly adding the 
 business of banking to his original trade. 
 
[ 305] 
 
 There is good reason to believe that in this way, some time prior to 1774, 
 Messrs. Lumley and Smith, drapers, became bankers. In the letter book of 
 Davison-Bland & Co., in December, 1787, they are named as Messrs. Lumley, 
 Brown, and Smith. In the books of Messrs. R. & J. Campion, bankers, at 
 Whitby, they are recorded first, as Lumley & Co., and then as Lumley, 
 Smith, & Co. The list of Mayors for the town of Stockton for 1774 and 
 1775 says, "Benjamin Lumley, Banker and Draper," in 1789 "Benjamin 
 Lumley, Draper and Banker," in 1786 and 1787, "Christopher Smith, 
 Draper," presumably the partner of Benjamin Lumley. At Mr. Smith's election 
 in 1787 an amusing incident occurred, of which more anon. 
 
 Of their business transactions I have no record until March, 1793. In that 
 year the suspension of payment of Messrs. R. & T. Harrison of London caused 
 them to change their London agents, as announced by the following advertisement: — 
 
 " Stockton and Cleveland Bank.— All Notes and Drafts drawn by Messrs. Lumley, Smith, & Co., of 
 Stockton, upon or payable at Messrs. Robert and Thomas Harrison & Co., will now and in future be 
 paid at Messrs, Sikes, Snaith, and Snaith, Bankers, in London" (first mentioned in the London list of 
 Bankers, 1791, then at 5, Mansion House Street). 
 
 Sometime prior to 18 12, Robert Wilkinson joined the Stockton firm. He was 
 the son of John Wilkinson, Mayor of Stockton, 1766, who married Ann, daughter 
 of William Hoar of Limehouse, two of her nephews, Geo. and William Hoar, 
 being partners in Davison-Bland & Co., bankers, Newcastle. By 1812 the firm 
 had become Lumley, Wilkinson, & Snowdon, for notes dated May 6th and 
 November 4th in that year are signed by George Snowdon. Two years later, a 
 Five pound note, having in vignette a view of Stockton (printed by Lambert & Co. 
 of Newcastle), dated October 19th, 18 14, is signed in the same way. Entered by 
 John Baxter. In another two years the bank had run its course. On July 27th 
 of that fatal year, 18 15, Messrs. Lumley & Co. (Stockton & Cleveland Bank) 
 dechned business — a declaration which was followed by the announcement of their 
 bankruptcy. They evidently had a very extensive note issue ; I have inspected 
 more notes of theirs than of any other bank of the same period. The various 
 properties owned by the members of the firm were advertised for sale on May 3rd, 
 181 6, at Stockton. 
 
 The amusing incident regarding Mr. Christopher Smith's re-election as Mayor 
 to which I previously alluded, occurred October 2nd, 1787. Ritson, a local 
 chronologist who was present, thus writes : — 
 
 "The election of a Mayor came on last night, at which our friend Wear cut a most conspicuous figure, 
 having to oppose the re-election of his late worship, and of course the whole corporation, by his single 
 solitary vote ; several who had solemnly engaged to support his cause turning tail like true Stocktonians, 
 and either refusing to poU or going over to the enemy. Great souls, however, are incapable of 
 
[306] 
 
 depression, and our hero concluded his opposition hy demanding a scrutiny against a majority of 
 20 to 1. In truth it was a high scene and such a one as I may safely venture to say was never before 
 exhibited on that stage." 
 
 An interesting entry regarding Benjamin Lumley of Stockton will be found in 
 the account of Messrs. Backhouse & Co. (See page 137.) 
 
 Founded prior to 1802. WHITBY BANK, Extinct prior to 1816. 
 
 AFTERV?ARDS 
 
 NEW BANK. 
 
 Partners. 
 Jonathan Miles. Dymohe Wells. 
 
 UPON September nth, 1802, Jonathan Miles, of Smeaton, near Whitby, and 
 Dymoke Wells, of 1 1, Gate Street, Lincoln's Inn Fields, London, leased 
 the premises at the west end corner of the Bridge in Whitby, from 
 Jonathan Lacy, Rope Maker, for a term of seven, fourteen, or twenty-one years. 
 Here they commenced business as bankers and merchants, but the partnership 
 was soon dissolved, and the following advertisement appeared in the Yorkshire 
 paper : — 
 
 " Whitby Bank. — Notice that the partnership between Jonathan Miles and Dymoke Wells, of Whitby, 
 trading under the firm of Miles, Wells, & Co., Bankers and Merchants, is dissolved by mutual consent. 
 The business will be carried on by Dymoke Wells alone upon his own account. — July 9th, 1803." 
 
 In the list of bankers for 1805 they are named as "New Bank, Wells & Co.," 
 with Wilkes & Co. for their London Agents. The bank is not recorded in the list 
 for 18 16, which is very imperfect. I have no further information regarding this 
 establishment. 
 
 JONATHAN MILES was the owner of the Smeaton estates which were sold 
 to Col. James Wilson, August 8th, 1812, for ;^4,5oo. He died in 1821 ; his death 
 being thus announced in the Ge?itlema7i s Magazine : — 
 
 " July 22nd, 1821, at Ealing, in his 60th year, suddenly, while in bed. Sir Jonathan Miles, Kt. Lady 
 Miles was awakened by a noise in his throat and called up the servants, when medical advice was 
 applied to, but in vain, A coroner's inquest was held — Verdict — Died by the visitation of God. Sir 
 Jonathan Miles served the office of Sherifi of London and Middlesex with Sir James Branscomb in 
 1806-7." 
 
 The following announcement would almost imply that Dymoke Wells was a 
 banker in London as well as at Whitby, but I cannot find the name in conjunction 
 with any of the London banks of that date. "March 25, 1804, at Whitby, the wife 
 
[307] 
 
 of Dymoke Wells, Esq., banker, of Great St. Helens, Bishopsgate Street, of a son." 
 For some time he resided at Smeaton, and was agent there for Jonathan Miles. 
 DYMOKE WELLS died at Kexby Grange, Lincolnshire, August i6th, 1832, 
 aged 60. 
 
 The Gentleman s Magazine, Vol. 37, N.S., 1852, says : — " Died February 2, 
 1852, Dymoke Wells, Esq., of Grebby Hall, co. Lincoln. He was the second son 
 of the late Dymoke Wells, by Anne, daughter and co-heiress of Thomas 
 Waterhouse, Esq., of Beckingham Hall, Notts. His father claimed in 18 19 the 
 barony of Marmion, being descended from Edward, the second son of Sir Charles 
 Dymoke who performed the office of Champion* at the coronation of Charles H., 
 the present Henry Dymoke, Esq., of Scrivelsby, now Queen's Champion by the 
 tenure of that manor, being descended from John, the fourth son of the same 
 Sir Charles." 
 
 flDUIa, IRobineon, Ibopper, pcarsou, a (Tbipcbasc, 2)urbam. 
 
 Founded prior to 1787. DURHAM BANK. Dissolved 1802. 
 
 Partners. 
 
 Henry Mills. — Pearson. 
 
 — Robinson. Thomas Chipchase, 
 
 Hendry Hopper, 
 
 THE earliest record that I have of this firm is from the list of bankers with 
 whom Messrs. Davison-Bland proposed to do business when they made 
 their preliminary arrangements in December, 1787, when the members of 
 the firm are quoted as above. Before me is a blank draft bearing the same 
 names. The next information of the bank under consideration is at the time of the 
 panic in 1793, when they are recorded as Mills, Hopper, & Co., "Durham Bank." 
 This panic, so often referred to in connection with the Newcastle banks, also 
 affected the City of Durham. 
 
 A pubhc meeting was held on April loth. The copy of a hand-bill issued at 
 the close of the meeting will show what transpired. As some of my readers may 
 be interested in the nomenclature of the city one hundred years ago, I give a full 
 copy of the document. 
 
 * Office of Champion.— " William the Conqueror granted large lots of land to Robert de Marmyon on condition 
 that he and his heirs filled the office of King's Champion. The male line of the family closed in the year 1292, 
 and by marriage the championship passed to the Dymokes. At the coronation of the English monarchs from 
 the time of Richard II. to the days of George IV.— four and a half centuries— the representative of the Dymokes 
 rode into Westminster Hall at the coronation feast during dinner, between the first and second courses, 
 mounted on one of the King's horses and clad in one of the King's best suits of armour." 
 
[3o8] 
 
 CITY OF DURHAM. 
 
 At a numerous Meeting of the Gentlemen, Clergy, Merchants, and Inhabitants of 
 this City and its Neighbourhood, held in the Town-hall, this loth Day of 
 April, 1793 ; to take into Consideration the Propriety of giving every 
 possible Support to the public Credit and Commercial Engagements of this 
 City and Neighbourhood, at this Juncture. 
 
 Gilbert Starforth, Esq., Mayor, in the Chair. 
 
 Besolved unanimously, 
 
 That the Durliam Bank, which has been established for several Years, has ever since its 
 Establishment transacted Business on the most liberal Plan ; and that the Proprietors thereof 
 being Persons of undoubted real and Personal Property, are entitled to the fullest Confidence 
 and Countenance of the Public. 
 
 That from this Conviction of the Sufficiency of the Durham Bank and the Proprietors 
 thereof, and from a persuasion that all Persons possessing Property, whatever their Station 
 may be, must materially suffer by the present general Alarm and uncertain State of Public 
 Credit, ucless immediate and effectual Means be taken to quiet the one and confirm the 
 other ; we will as usual, in all Payments which may be made to us, accept and take the 
 Notes issued by them ; and will exert our utmost Influence and Endeavours to induce others 
 to do the same. 
 
 That a Committee of seventeen Gentlemen be appointed to communicate these Resolu- 
 tions to the Gentlemen, Clergy, Merchants, and Inhabitants of this County, and of the 
 Neighbouring Counties, and to the Public at large, in such Manner as they shall think 
 expedient. And that these Resolutions be signed by all present and all others who shall 
 approve the same. And that Mr. Mayor, Sir John Eden, Mr Ord, Mr. H. U. Reay, Mr. 
 Spearman, Mr. Nesfield, Mr. Hoar, Mr. Emm, Mr. Bowes, Mr. Kirton, Mr. Wood, Mr. 
 Parker, Mr. Britton, Dr. Fen wick, Mr. Burke, Mr. Shields, Mr. Castle, and Mr. Scruton, 
 be such Committee. 
 
 These Resolutions were signed by the several Gentlemen whose Names are subscribed, and 
 the same will remain for further Signatures at the Town Clerk's Office on the Palace 
 Green. 
 
 Gilbert Starforth,Mayor 
 John Eden 
 Ralph Milbanke 
 Charles Spearman 
 Cooper Abbs 
 Robert Thorpe, D.D. 
 W. S. Donnison, Clerk 
 William Robinson 
 William Nesfield 
 George Barrington 
 George Maclellan 
 0. Cooper, D.D. 
 Richard Richardson 
 William Hoar 
 William Emm 
 Robert Curry 
 R. Scruton 
 Ralph Ord 
 Henry Methold 
 Thomas Bowes 
 Carr Ibbetson 
 G. Robinson 
 Robert H. Macdonald 
 George Hodgson 
 William Kirton 
 John Drake Bainbridge 
 
 John Greenwell 
 Henry U. ,Reay 
 J. T. H. Hopper 
 George Wood 
 Edward Parker 
 Arthur Mowbray 
 James Britton 
 John Ralph Fenwick 
 Robert Anderson 
 R. G. Bouyer 
 Samuel Vyner 
 Smith Burke 
 John Wilde 
 Thomas Reed Ward 
 John Ward 
 Sober Watkin 
 Donald McDonald 
 Thomas Swinburn 
 Samuel Castle 
 Martin Wilkinson 
 John Hutchinson 
 John Ward, jun. 
 John Starforth 
 George Finch 
 Thomas Woodness 
 William Darnell 
 
 John Burlison 
 Stephen Arrowsmith 
 John Griffith 
 Abraham Oliver 
 Thomas Byers 
 William Stott 
 Thomas Liddell 
 Jonathan White 
 Anthony Smith 
 Thomas Rippon 
 William Scales 
 William Addison 
 W. Alston 
 William Shields 
 William Pringle 
 Nicholas Proud 
 William Appleby 
 William Worthy 
 Phipps Weston 
 John James 
 Robert Bone 
 Richard Shuttleworth 
 William Grey 
 Edward Walsh 
 James Eggleston 
 
 John White 
 John Smith 
 John Lofthouse 
 Robert Adamson 
 Thomas Richardby 
 John Patrick 
 Robert Mitcheson 
 James Barry 
 Lewis Legg 
 John Martindale 
 Francis Smales 
 Robert Burrell 
 George Johnson 
 M. Featherstonhaugh 
 Matthew Forster 
 John Flintoff 
 T. Croudace 
 M. Morrison 
 W. Stobart 
 Samuel Barrass 
 John Smith 
 William Watson 
 Ralph Harrison 
 Barnabas Brough 
 Lewis Pennington 
 
[309] 
 
 Another meeting was held at the same place at 10 o'clock on the following 
 day, when it was resolved — 
 
 " That the resolutions of yesterday, with the signatures thereto, be printed in all the Newcastle papers.* 
 That another meeting be held Tomorrow Morning at eleven o'clock, for the purpose of receiving the 
 Report of the Committee, a Meeting of which will be held this afternoon. That a Select Committee, 
 consisting of the following Gentlemen, be appointed to examine the Statements of the Funds and 
 Affairs of the Bank, and the Proprietors individually, viz. : — Gilbert Starforth, Esq., Slayor, George 
 Wood, Esq., Dr. Fenwick, Henry Utrick Reay, Esq., William Hoar, Esq., Charles Spearman, Esq., 
 and Mr. Alderman Shields, or any five or more of them. — And that such Select Committee do 
 immediately proceed in the business and Report the Result of their Enquiries at a general Meeting of 
 the Inhabitants of this City to be held at the Town Hall tomorrow Morning at Eleven o'clock." 
 
 On the day following, the Committee handed in their report stating that 
 they had 
 
 •' required the Proprietors of that Bank to show— 1st. The amount of their Notes now in Circulation. 
 2ndly. The Specie now in their hands towards the discharging of those notes. 3rdly. The Commissions 
 they have given for a further Supply of Specie ; their Grounds for expecting that those Commissions 
 will be complied with, and how soon. 4thly. The Amount of Bills of Exchange drawn or accepted 
 by them. 5thly. The amount of Bills of Exchange payable to them, as well those now in their own 
 Hands as those in the Hands of their Bankers in London. 6thly. The Particulars and Amount of 
 their other Debts. 7thly. The Particulars and Amount of their other Funds and Securities, 
 distinguishing the Natures of such Securities. 8thly. The Amount of the Payment in Specie made 
 by the Bank in each Day of this Week. . . . The Amount of the Durham Bank Notes now in 
 Circulation is only Thirty-one Thousand Four Hundred and Twenty Pounds, even including the 
 Notes in their Agents' Hands ; f a Sum greatly within the Amount of the Co-partnership Funds of the 
 Bank and a Sum which, exclusive of those Funds, the private and separate Property of several of the 
 
 Individuals of the Bank is adequate to the Discharge of We have the most sincere 
 
 satisfaction in informing you that the Funds and Securities of the Durham Bank enable them to 
 answer in the fullest manner their engagements with the Public, and leave a very large Surplus. 
 They have moreover made an unsolicited Offer of pledging their respective private Properties, real 
 and personal (if necessary), in aid of their Banking Engagements, so that we most firmly hope that 
 the Public will afford them the fullest credit in the continuance of their Commercial Transactions, 
 which their Regularity, Stability, and Integrity, appear to us so justly to deserve." 
 
 At public meetings held at Newcastle and Sunderland in support of the 
 various banks no mention is made of the " Durham Bank," but it is curious to note 
 that at a meeting held at Wooler, an account of which I give on page 53, the 
 persons present agree to accept the notes of the Newcastle and Berwick banks, 
 and " those of Mills, Hopper, & Co. of Durham." 
 
 The satisfactory report of the Committee restored the public confidence, and 
 a newspaper of the following week announced : — 
 
 " We are happy to hear that the late run upon the Durham Bank entirely subsided on Saturday last, 
 
 the public having become fully satisfied with the security they held, and convinced of its permanent 
 
 stability. The business of that house now proceeds in its usual state of regular tranquil negotiation." 
 
 * Durham had no newspaper at that date. The Advertiser commenced 1814, the Chronicle 1820. 
 
 + The mention in the report of " Notes in the hands of their Agents" shows that they like other bankers of their 
 day had "Note Agents" in various towns adjacent. 
 
L3I0] 
 
 Nothing is known of the further doings of the bank until 1797, when the 
 occurrence of another panic brings it again before the public, the partners then 
 being Henry Mills, Hendry Hopper, — Pearson, and Thomas Chipchase. The 
 Newcastle banks had all suspended cash payments, and on February 22 nd 
 a public meeting was held in Durham, when it was reported that 
 
 " At a General Meeting of the Gentry, Clergy, and Tradesmen of the City and Neighbourhood of 
 Durham, convened by public Advertisement, and held at the Townhall this 22nd Day of February, 1797, 
 John Starforth, Esq., Mayor, in the chair. The Persons whose Names are underwritten being 
 convinced of the Necessity of supporting the credit of respectable Paper Currency at this juncture, and 
 having long experienced the Stability of the Banking House of Messrs. Mills, Hopper, Pearson, and 
 Chipchase, do hereby promise to receive their Notes in Payment as usual." 
 
 The list is headed " For and by the Authority of the Lord Bishop of Durham, 
 Samuel Castle" — and is signed by loi of the leading inhabitants of the City and 
 district. 
 
 At some subsequent period Mr. Pearson died or retired, and in 1802 it appears 
 that the partnership was dissolved, and the business taken over by another bank 
 that then existed in Durham. 
 
 "Notice is hereby given that the Partnership between Henry Mills, Hendry Hopper, and Thomas 
 Chipchase, of the City of Durham, Bankers, was this Day dissolved by mutual consent, and that all 
 Notes issued by them which are now in Circulation will be paid by Messrs. Wetherell, Mowbray, & Co., 
 Bankers, in the said City. — Dated this 12th Day of May, 1802." 
 
 flDowbra^, Ibolling^wortb, S, (To. ©aritnoton. 
 
 (see Richardson & Mowbray), 
 
 flDowbra^ S, (To, Berwtcft-upon-UweeO. 
 
 Founded about 1803. BERWICK BANK. Extinct about 1820. 
 
 Partners. 
 
 ^ohn Mowbray. Christopher Mason. 
 
 G. L. Hollingsworth, John Bailey. 
 
 John Wetherell. jfohn Langhorn. 
 
 IN the early years of the present century the above bank appears to have been 
 opened at Berwick. It is highly probable that they took up the local 
 business of Messrs. Surtees, Burdon, & Co., who failed in 1803, and who 
 then styled their establishment in the border town the "Berwick Bank." Houlden's 
 
[Jll] 
 
 Directory for 1802 announces Surtees & Co., Berwick. The same Directory for 
 181 1 has — Berwick and Kelso, Mowbray & Co. London Agent, Everett & Co. 
 
 The first-named fom^ gentlemen who constituted the firm were also partners 
 in the "Durham and Darlington Bank." (See Richardson and Mowbray.) 
 Mr. Mason retired from the Durham bank prior to its collapse in July, 1815. 
 
 ^r^ ^^ Mr. Langhom was previously 
 
 £v^* Z^ ot^^^^</^i^^xl^^^' '^vi*!?— -^ ^ clerk with Sir J. Lawson & Co., 
 
 y^/ A/' y^^ // ^ bankers, Richmond. A paid 
 
 C^ ^^V^ ^/<crl _ ^,x>r:r: « voucher of Surtees, Burdon, & Co. 
 
 upon Barclay & Co., dated March 
 22nd, 1800, is endorsed p. pro Sir 
 J. Lawson, Bt.,& Co., J. Langhom. 
 
 Upon the failure of the Durham Bank, complications appear to have arisen, 
 which called forth the following circular : — 
 
 " BERWICK BANK. 
 Messrs. Mason, Bailey, and Langhom, feel it a duty they owe to themselves and to the Public, to 
 state that the Extent issued against the Partners of the Durham Bank, for the Sum of Five Thousand 
 Seven Hundred and Forty Five Pounds, Seventeen Shillings, and Eleven Pence, in aid of a Debt due 
 to the Crown by Messrs. Reed, Batsons, and Company, directed to the Mayor and Bailiffs of the 
 Borough of Berwick upon Tweed, by virtue of which, the Effects of the Berwick Bank have been 
 attached, is of no efficacy whatever in consequence of the Bankruptcy of the parties against whom the 
 Extent was issued ; such Bankruptcy having taken place antecedent to the teste of the Extent. 
 
 Messrs. Mason, Bailey, and Langhom, make this Communication, to remove from the Public 
 mind any anxiety or alarm which the Extent may have occasioned ; and they repeat with confidence, 
 their ability to discharge every demand upon the Berwick Bank. 
 
 BEBVfiCK, July 28th, 1815." 
 
 Of the ftiture history of this bank I have no reliable record, but the probability 
 is that about 1821 Mr. Mason died or retired from the firm, and that Mr. Langhorn 
 then joined Messrs. Batson, Berry, and Wilson, and formed the "Tweed Bank" at 
 Berwick. A further account of him will be found under that heading. 
 
 The notes for the Berwick Bank were printed by Thomas Bewick. In the 
 "Bewick Gleanings," many records will be found of communications between 
 Bewick and Mr. Mason, who, as well as being a banker at Berwick, was land 
 steward for the Earl of Tankerville at Chillingham. He was an intimate 
 personal friend of Bewick.* Mr. Mason's daughter became the wife of Mr. J. 
 Langhorn, her father's partner. 
 
 * " It was when staying with him in 1789 that Bewick made his sketch for the Chillingham Wild Bull, and to him 
 the first copy on vellam of the only ten printed before the block split was ^ven."— Bewick Gleanings, p. 62. 
 
[312] 
 
 The copy of a note here shown is from a plate by Thomas Bewick. The 
 accompanying letter from him to Mr. Mason, has some interesting references to 
 the "cross hatching" which the renowned engraver thought was very difficult 
 to imitate. 
 
 7i^-<\( C 
 
 
 
 Jrtfe|l0«il5g 
 
 Mj/u/^u &2^^-i^/io7y?^ 
 
 " Newcastle, 5th February, 1818. 
 Dear Sib, — I have had a painfzilly busy time with the notes for the Northumberland Bank ; 
 for, not knowing that my first two plates would so soon wear out, I felt taken by surprise that 
 5,000 finished one of them and 7,000 the other, and was much grieved to find that their 
 demand for a fresh supply was urgent in the extreme. 
 
 We have, however, by working unremittingly late and early, Sunday and Warday (sic), 
 very nearly finished two plates, and with which we expect to be at work on Monday morning — 
 if our printer is well enough to stand to the work ; if otherwise, I shall feel a continuation 
 of the extreme anxiety with which the New Year has set in upon me. I find we must 
 instantly set to work with other 2 new plates, and these, from the manner in which we shall 
 engrave and etch them, shall print almost till doomsday. As soon as these are done — and I 
 think that will be nearly about a month (more or less)— then I shall use the same kind 
 of exertions (if that time will suit you) to get your 20s. one done. But there has been 
 something ominous or unlucky hitherto in everything I have had to do with ' Berwick Bank.' 
 I think I have lost about ^ a year's work to no good purpose. However, I still hope for better 
 in time to come. I think, as you intend to change your device, I would recommend the 20s. 
 note to be done something like this — [here followed a sketch] — with the white cross hatching 
 done slantingly like a net hanging over a view of Berwick. But I wou'd like well if you 
 cou'd send a finished drawing, done so as to please the Gentlemen of the Bank, as I shall in 
 that case have nothing to do but fall to work with it, and endeavour to give you and them 
 satisfaction. The net-work I wou'd do with both white and black cross hatching, so as to cut 
 out a pretty job for the imitation of (any) either pen and ink, wood-cutting, or engraving 
 villain to imitate it. I have long had it in contemplation to do bankers' plates in such a 
 manner as to wear until they were tired at looking at the sameness — thousands and tens of 
 thousands of impressions, and not in the slight way you recommend. This, I hope, I shall 
 accomplish when the now neglected ! Fables are out of hand." 
 
[313] 
 
 IFlational provincial Banh of iBriGlanb. iRewcastie-upon-Trpne, 
 
 Founded 1833. SiC, S<C. 
 
 THE history of this bank should be of interest to all North-countrymen, as it 
 was formed mainly through the exertions and perseverance of Thomas 
 Joplin and George Fife Angas, both Newcastle citizens. The scheme was 
 conceived by the former, and the money necessary for preliminary expenses, 
 advanced by the latter gentleman. The first mention of its formation that I have 
 met with is in the Times for May ist, 1833, where is announced the following : — 
 
 "Prospectus of a National Metropolitan Establishment for Banking in the Country. In 1830 a 
 Meeting took place, Sir H. Parnell, Bt., M.P. in the chair, 
 
 When the following gentlemen formed themselves into a Committee to take the steps necessary 
 to promote the formation of a Metropolitan Joint Stock Company for Banking in the Country. (The 
 names of sixteen influential gentlemen, of whom Thomas Joplin is one, are recorded.)" A long 
 statement is then given showing the advantages to be derived from Joint Stock Banking, and quoting 
 the price of the shares of many of the banks then existing. It continues : — " From these results the 
 disposition of the public to subscribe to such undertakings cannot be doubted, more especially to one 
 on a large scale such as proposed, which will divest banking of nearly all risk and reduce its profits 
 to an average certainty. 
 
 Under these impressions, steps are now being taken for the immediate formation of such an 
 institution, and at a meeting held for this purpose a Committee was chosen to carry it into effect. 
 The object of the Committee is, therefore, to form such an institution as has been described — 
 namely, which shall spread its branches in all directions, and not only carry banking on its best 
 principles, into the agricultural as well as commercial districts, but, in times of difficulty, form a stay 
 and support to the existing private banks wherever its branches may be established, &c., &c. It is 
 therefore proposed : — 
 
 1. That a Metropolitan Establishment shall be formed for Banking in the Country. 
 
 2. That it shall have its supreme seat of direction in London. 
 
 3. That it shall have branches in the Provincial towns where they now, or hereafter, may be 
 
 admitted by law, and where they can be formed with the prospect of advantage to the 
 institution. 
 
 4. That the Board of London shall consist of twenty-four or such other number of acting 
 
 directors as may bo hereafter agreed upon, together with Honorary Directors, President, 
 &c., with such power as may be hereafter determined. 
 
 5. That the business of the branches shall be conducted by Boards of Local Directors on 
 
 principles to be hereafter agreed upon." 
 
 The Original Capital was to be one million, provision being made for increasing the amount as 
 required. Notice is given that prospectuses can be obtained from solicitors in a great many of the large 
 towns in England, Messrs. C. and P. Fenwick at Newcastle, and Bayley and Newby at Stockton, being 
 amongst the number. Provision is made that "these terms and conditions shall be subject to any 
 alteration or modification which may be thought advisable." 
 
 Probably the name of the bank was one of the questions considered, as it 
 seems to have been altered several times before it assumed its final form. 
 
[3H] 
 
 The next notice that I have met with is from the Times of June 21st, 1833 ; 
 it states : — 
 
 " Pkovincial Bank op England, Levant House, St. Helen's Place, Bishops-gate, June 21st, 1833. — 
 
 The Directors of the Provincial Bank of England give notice, that the Holders of the Provincial Bank 
 
 Shares may obtain Scrip Certificates for the deposits on their shares in exchange for their letters upon 
 
 application at the above office. 
 
 T. LA.MIE MURRAY, Hon. Sec." 
 
 The deed of settlement is dated September 23rd, 1833. The directors 
 recorded were : — 
 
 " Douglas Gordon Hallyburton ; George Fife Angas of Jeffrey's Square, London ; George Barnes ; 
 Edward Blount ; Sir Robert Campbell of Argyle Place, London ; Sir William Conway of Sandgate, Kent, 
 Knight ; James Gordon Duff, Mark Lane, London ; Oliver Farrer, Lincoln's Inn Fields ; Andrew 
 Leith Hay ; William James of Barrock Lodge, Carlisle ; Thomas Joplin of Levant House, St. Helen's 
 Place, London, the a>-iginator of the Company (so stated in the deed of settlement) ; Samuel Eustice 
 Morgan of Hornsey, Middlesex ; George Richard Robinson, Broad Street, London ; James Garthorne 
 Remington ; Horatio Ross of Rossie Castle, North Britain ; Joshua Scholefield, Birmingham ; 
 Edward Stewart and John Wright of Henrietta Street, Covent Garden ; all of whom are parties to 
 these presents and each of whom is a holder in his own right of twenty shares or upwards in the 
 capital of the Society or Co-partnership, shall be and they are hereby appointed the first and present 
 Directors of the said Society or Co-partnership." 
 
 Though the originator of the bank, Joplin did not long remain a director. A 
 correspondent favours me with the following : — 
 
 " He (Joplin) informed me that there was a great disagreement between himself and the Directors 
 while the Deed of Settlement was being prepared. That he, judging it necessary from his past 
 experience, insisted that a clause should be inserted securing to him an annuity in the event of the 
 Bank paying a Certain Amount of Dividend, and that the annuity should increase with an increase 
 in the Dividend (there was also something about an increase of the capital). In short that he should 
 in some degree share in the prosperity of the undertaking. Whilst on the other hand the Directors 
 maintained that any such clause in the Deed would militate against their getting shareholders and 
 that he might safely rely upon the honour of the Bank to do him justice. I do not know to what 
 extent the battle raged." 
 
 From the very first the National Provincial Bank had an extensive business, 
 numerous branches being established. Darlington and Stockton were both 
 invaded on August 23rd, 1836, by the "National" taking over the business 
 of Messrs. Skinner, Atty, and Holt, who for many years had banking houses 
 in the towns named. In 1846 the Stockton connection was augmented by the 
 addition of the remnants of the business of the " Stockton and Durham County 
 Bank." Stokesley, Hartlepool, North and South Shields, were soon after occupied. 
 
 Towards the close of 1865 the Newcastle-upon-Tyne branch was formed, and 
 in December of that year a sub-branch was commenced in Gateshead, being the first 
 bank to open in that borough. The lead was immediately followed by Messrs. 
 Lambton & Co. and Messrs. Woods & Co., bankers at Newcastle. 
 
[3I5J 
 
 The event called forth the following letter to the Editor of the Gateshead 
 Observer : — 
 
 " Eyton Basks, Disember th' eyt, 1865. 
 Ti Th' Edditob o' Th' Gyetsed Obsarvor. 
 Deer Sob, — Aw's not fond ov swherin, but what for ye did'nt send word ye'd shifted yor offis. The 
 milk laddie browt my lettor back agyen, an' if it haddent been the manadge man ye waddent hev had 
 my lettor this week. Mind, when aw beer the particklars aw forgie ye, but will ivorybody dee that, 
 aw ax, an' answor yes, 'cas ye've gyen oot ov yor pleyce ti' myek room for a new bank, which like a 
 Scotchman has a lang nyem an' greet conneckshuns. But, sor, it nivor rains but it poors, there's 
 byeth Woods' and Lamtin's gannin' ti hev a bank a peece iv yor borro'. Noo, whee wad hev thowt ov 
 three banks iv Gyetsed ; wey the brass '11 rowl intiv yor pockets whether ye will or not. Yor new 
 bank mun be forst-rate, 'cas iv maw day they wor consithor'd sumbody that was cumpinny for the 
 Lamtins. But, sor, aw see yor drift iv ye gannin' tiv a new offis, ye'U be next door tiv the telegraft 
 offis, iv Wellington Street, aside the end ov the High Level. Ye knaw what yor aboot, an' ye'll hev 
 news afore onnybody else, and then iverybody 'ill want the Obsarvor. Yor a queer un." 
 
 In 1844 the bank's authorised note issue was fixed at ^442,371, but this they 
 had to relinquish upon the opening of their London establishment in January, 1867. 
 This was by far the largest note issue ever surrendered. 
 
 The development of the bank is something phenomenal. At the close of 
 1893 its position was: — Subscribed capital, ;^i 5,900,000 ; paid-up capital, 
 ;£"3,ooo,ooo ; reserve fund, ;^2,ooo,ooo ; partners, 11,544; branches, 168; sub- 
 branches, 45. 
 
 IRewcastle Commercial 3oint Stock Banking Co. 
 •Hewcastle-upon-Usne. 
 
 Founded 1836. Failed 1856. 
 
 IN the spring of 1836, the newspapers were flooded with announcements of the 
 formation of companies of every conceivable description, to be carried on 
 under the Joint Stock principle. 
 
 Two new banks jostled each other in the advertisements of the Newcastle 
 Chronicle of May in that year — the "Newcastle Commercial Bank," and the 
 " Newcastle Joint Stock Bank." The former had the priority by a day or two, so 
 it claims our attention first. 
 
 The prospectus is dated May 21st, and it will tell its own story. 
 
 " The advantages of Joint Stock Banks having been so thoroughly tested during the last ten years, 
 and the public voice so loudly declared in their favour, it is superfluous on the present occasion to 
 prove the soundness of the principle on which they are founded, or to point out in detail the 
 incalculable benefits they have conferred and are likely to confer on the commercial and agricultural 
 
[3i6j ^___ 
 
 classes of society. The security which Joint Stock Banks afford the public and the subscribers has 
 never been doubted. The subscribers know that it is their own capital that is employed and managed 
 by directors under their own control, while it is the duty of such without partiality to assist the 
 subscribers from temporary embarrassment on sufficient security being handed them. The experience 
 of 10 years shows not a single failure amongst the Joint Stock Banks, and from an official source a 
 table is given of their approved value. It might be here shown that these establishments are required 
 in a place like Newcastle, more than in a place of less commercial importance, where several such 
 institutions have been advantageously formed. It is however sufficient for the purpose to state that 
 the public hailed with satisfaction the announcement of a second establishment on Joint Stock 
 principles. The shares were speedily bought up at a high premium, and every necessary step was 
 taken to commence operations, when, to the surprise of many shareholders and the public, it has just 
 been announced that a juncture has taken place with a wealthy Banking company on condition of 
 being allowed certain shares therein, and one of the partners appointed as manager. The public and 
 shareholders have thus been disappointed by the apparent monopoly. The advantages anticipated 
 from branches of adjacent towns are only to be held in common with a party admitted as share- 
 holders, and who must be actual competitors in every such town, the interest of one party of 
 shareholders being diametrically opposed to that of the other. Such proceedings the public cannot 
 countenance, and the advantages of another Joint Stock Bank being as evident now as when the one 
 alluded to first originated, a number of individuals of commercial influence have determined that one 
 shall be formed under the denomination of the Newcastle Commercial Banking Co." 
 
 The allusion in the circular was to the Northumberland and Durham District 
 Bank, the prospectus of which was issued in the March previous, and arrangements 
 subsequently made for incorporating the Newcastle business of Messrs. 
 Backhouse & Co. 
 
 The proposed capital of the Commercial Bank was ^500,000, to be raised in 
 ;^io shares, the company to be considered formed when the shares subscribed for 
 amounted to ^10,000. Allotment of shares to be made under the management 
 of the provisional committee. Application for shares to be made to Mr. Fordyce, 
 share-broker, 48, Dean Street. Geo. Wm. Cram, solicitor. 
 
 On June nth, it is announced that "upwards of 25,000 shares have been 
 applied for, but applications from individuals who can promote the business of the 
 Bank will continue to be received." A manager is also advertised for. On the 
 1 8th the provisional committee inform the shareholders that a general meeting 
 will be held at Mr. Lough's, Queen's Head Inn, on the 22nd inst., to appoint 
 directors ; and a meeting on July 5th, to agree to the draft of the deed of 
 settlement. The directors appointed were George Edward Sawyer, James Dent 
 Weatherley, Edward Twizell Wawn, and George William Cram, the manager being 
 Lawrence Black. Business was to be commenced on August ist, in the upper 
 part of the premises at the Bridge End, lately occupied by the Savings' Bank ; this 
 position being chosen for the convenience of the Gateshead shareholders and 
 clients, of whom the bank had a strong contingent. 
 
[^^71 
 
 The capital of the bank was ultimately fixed at ^100,000 (instead of ;^5oo,ooo), 
 ^75,000 being called up. The first call of £2 los. was to be made by the opening 
 day ; shares not paid up in 10 days after to be forfeited. 
 
 The bank issued its own notes until 1840, when they were withdrawn, and 
 only the notes of the Bank of England circulated. The business was small, and 
 the subscribed capital being more than they could utilise, in July, 1845, it was 
 reduced to ^50,000 by the repayment of £2 los. per share to the shareholders. 
 In 1847 Mr. Peter Davidson had become the manager, and he retained that 
 position for some years. 
 
 By 1855 the business of the bank had dwindled away so much that suggestions 
 were made to wind it up. On October 5th a meeting of the shareholders was 
 held to consider the matter. The proposition was however abandoned, and it 
 was stated that the directors had opened communications through Mr. Alderman 
 Kennedy with influential capitalists in London, who were willing to purchase the 
 interest of all or any of the existing shareholders at the par price of £c^ per share. 
 The shareholders expressed their approbation of this step, and a new board was 
 constituted of Messrs. R. H. Kennedy, R. Keating, M.P., Farmery John Law, 
 James Sadleir, M.P., and F. Valiant of London ; and W. Walker of Gateshead. 
 
 This new constitution was the beginning of the end of the ill-fated Commercial 
 Bank. The local men were made the dupes of the notorious John Sadleir, and 
 the ruin of the bank formed part of the gigantic frauds carried out by him. Before 
 the negotiations for the purchase of the shares were completed, the local manager 
 had instructions to pass various sums of money to the London representatives, and 
 in this way, almost the entire local capital found its way to London, and was made 
 use of to prop up the "Tipperary Bank," then in the last stage of its existence 
 in consequence of its vast advances to Sadleir. In August following, the bank was 
 compelled to stop payment. Fortunately, the liabilities were only ;^24,ooo, so 
 that no very great inconvenience was felt locally. On the 27th of August, 1856, 
 the following circular was issued : — 
 
 " Sir, — It appears by the books of the Newcastle Commercial Bank, that the Company are indebted to 
 you as a customer. I regret to be obliged to claim your indulgence on behalf of the shareholders and 
 myself, and to ask you to stay the pressure of your demand for a short time to enable the directors to 
 collect money due to the company. You are doubtless aware that upwards of £50,000 belonging to the 
 company have been fraudulently misapplied by a portion of the late London Board of Directors. The 
 assets of the company are however sufficient to meet all demands against us, and in a short time 
 the amount duo to you will be paid with 5% interest from this day to date of payment. The amount 
 owing by the company to the public is under £24,000— our shareholders are upwards of 100 in number, 
 and many of these are individuals possessed of considerable means. The fortune of each shareholder 
 is available for the creditors of the bank until every debt is discharged. Wm. Walker, Managing 
 Director." 
 
[3I8J 
 
 The winding-up of the bank extended over a considerable time, and led to 
 many disputes, charges, and counter-charges amongst the directors and shareholders. 
 Mr. Walker appears to have advanced considerable sums of money while the 
 bank was tottering, which advances were afterwards disputed by the other directors. 
 Before me is a circular issued by Mr. William Walker, from Walker Terrace, 
 Gateshead, dated October 20th, i860. It is a four-paged quarto, with double 
 columns, and is addressed to the Shareholders of the Newcastle Commercial 
 Banking Co. It is much too long to insert, but a few quotations will show its 
 purport : — 
 
 " Gentlemen, — In laying before you the facts and observations contained in this circular, I do so for 
 the purpose of clearing my character from the stigma that has been attached to it from various 
 circulars which have been issued during the last fev? years. The •whole of the charges that have been 
 preferred against me have been proved in the various courts to be totally unfounded, being only 
 supported by the false evidence of malignant men." 
 
 Judging from Mr. Walker's statement, he certainly had many difKculties to 
 contend with. He reviews the whole of the circumstances that occurred after 
 the introduction of the London men, and gives copies of numerous letters, &c. 
 He also shows the position of the London people when they opened negotiations. 
 
 " The first gentleman — one of the three on the agreement — was the introducer of the whole party, and 
 was both an Alderman and Sheriff of London, of undoubted wealth, even up to the present time, with 
 a pension of about £1,000 a year from the East India Company. . . . The second was a director 
 of the London and County Bank ; the third, a landed proprietor who married an English lady with 
 £10,000 fortune. He was at the head of the Tipperary Bank and an M.P. Three others were men of 
 standing, and solicitors for the London and County Bank. The seventh, John Sadleir, was a large 
 landowner, and Chairman of the Directors of the London and County Bank, and had lent on mortgage 
 £130,000 on an English Duke's estates, and was an M.P., and had held the high situation of one of the 
 Lords of the Treasury. The eighth was a private gentleman, and Director in the London and County 
 Bank, and was an M.P. The ninth was also a private gentleman, and was an M.P. The tenth was a 
 Captain in the Army, and the son of a General. The Eleventh is now a judge at Bombay, with a salary 
 of £5,000 or £6,000 a year. Men must be taken with the characters they held at the time of their 
 appointment (not when fallen). The Bank of Ireland thought well of the Irishmen, for they, as 
 neighbours to the Sadleirs, lost more than £20,000 by the Tipperary Bank." 
 
 Mr. Martin, a Chancery barrister, speaks highly of Mr. Walker : 
 
 "It is admitted that Mr. Walker for nineteen years conducted this company in the best possible 
 manner, . . . and during the whole of that time by his good management it paid an 
 average dividend out of the profits of the company of 6 per cent. . . . The Bank was one of the 
 few companies that was in a perfectly sound condition, and which survived the great crisis of 1847, and 
 was still in a sound condition in 1855." 
 
 Mr. Walker finishes his circular thus : — 
 
 " It is bad taste and unfeeling to wilfully annoy an affiicted fellow- creature like myself, who has neither 
 been able to stand or walk during the last seven years." 
 
_^ [319] 
 
 IRewcaetle Joint Stoch Bantling Co. -wewcastie-upon-XTpne. 
 
 Founded 1836. Failed 1846. 
 
 THE second prospectus that was issued to tempt the public to the formation 
 of another bank was that of the Newcastle Joint Stock Banking Company, 
 the Arcade being again chosen as the field of operations. The prospectus 
 is dated May 23rd, 1836, and states : — 
 
 " Capital— £500,000, in 20,000 Shabes op £25 each. Public opinion has been so often unequivocally 
 expressed in favour of Joint Stock Banks, that it would be quite superfluous to offer any observations 
 on the subject. It is therefore at once proposed to establish a Bank in Newcastle under the style of 
 ' The Newcastle-upon-Tyne Joint Stock Banking Company.' . . . No individual shall hold more 
 than 200 shares or less than five. Each subscriber shall on the call of the Committee pay £2 10s. on 
 each share, further calls as the Directors require at one month's notice. The management to be 
 vested in a Chairman and not fewer than four and not more than six directors. If the bank should at 
 any time lose its surplus profit, the directors shall forthwith call a general meeting when the affairs of 
 the Company may be dissolved. If any shareholders be desirous to continue the business of the Bank 
 they shall be at liberty to do so, on paying the dissentients the value of their shares. It is intended 
 that the Bank shall be conducted in a liberal manner but with the greatest secrecy as to its 
 transactions with customers, and with strictest economy in all its departments. George T. Gibson, 
 Solicitor." 
 
 At a meeting held May 24th — Richard C. Askew, Esq., in the chair — it was 
 reported that 5,000 shares had been taken up, and it was agreed that the following 
 gentlemen form a Committee of Management : — R. C. Askew (chairman), Andrew 
 White (Mayor of Sunderland), and Matthew White ; that a meeting be held on 
 the 31st inst., at the Turf Hotel, to appoint directors for the ensuing year, and 
 that John Morrison be appointed manager of the head establishment, and S. M. 
 Bell, sub-manager. 
 
 On June 25th it is announced that the directors have procured and are fitting 
 up very eligible premises opposite the Post Office, in the Royal Arcade, and that 
 business will be started on Saturday, August 2nd. 
 
 On July 2nd it is stated that another allotment of shares will take place on 
 Friday, July loth, until which date applications for shares will only be received 
 from persons likely to do business with the bank. 
 
 On December 5th, in the year of opening, an unusually strong gale of wind blew 
 down a chimney stack, considerably damaging the glass roof of the Arcade and 
 the premises of the bank. This may have led to a change of address, for the Newcastle 
 Directory of 1844 announces the bank in St. Nicholas' Square, with H. Bleckley 
 as manager. Here they remained until their failure in 1846 ; on January 22nd of 
 that year their London agents refused their drafts. 
 
[3^0] 
 
 The business of the bank was small, the shareholders only numbered one 
 hundred. The managers contrived to keep the premises in St. Nicholas' Square 
 open for some days, and the deposit accounts were promptly paid, so that the 
 stoppage was very slightly felt. 
 
 Thus another Joint Stock Bank vanished from the business life of Newcastle. 
 
 1Flewca0tle, Sbielba, & Sunberlanb Tnnion Joint StocFi Banh. 
 
 Founded 1836. Suspended 1847. 
 
 Purchased by Woods & Co., January, 1859. 
 
 'T^HE contemplated formation of the bank was announced thus : — 
 
 ■*- " Prospectas for converting the old established bank of Messrs. Chapman & Co. into a Joint 
 Stock Banking Company to be called the 'Newcastle, Shields, and Sunderland Union Joint Stock 
 Bank.' Provisional Committee — Messrs. Chapmans & Company. Newcastle, Messrs. Wm. Angus, 
 Jos. Arundale, Jno. T. Carr, Harrison Colbeck, Jos. Grey, Jos. Hedley, Jos. Hedley, Jr., Thomas Hogg, 
 Wm. Hymers, Wm. Knox, Robt. Kidd, James Badford, Wm. Winder, Ralph Wilson. Noeth Shields, 
 Thomas Atkinson, Wm. Brown, Alex. Crighton, Thos. Dryden, Jos. Elder, Jno. Fenwick, Preston Villa ; 
 Thos. Fenwick, South Preston ; Richard Fenwick, Robt. Hansell, John Harrison, Jos. Laing, 
 Solomon Mease, Hy. Mitcalfe, Jos. Ogilvie, Wm. R. Omond, Robert Pow, John Rennison, Alex. Russell, 
 Michael Spencer, Jos. Straker, Wm. Wheatley, Thos. Young. South Shields, Thos. Barker, Jas. 
 Brown, James Eddowes, James Edwards, John Eden, Francis Jefferson, Robt. Jefferson, A. J. F. 
 Marreco, John Oyston, John Robinson, John White. Mr. Robert Anderson, Hon. Sec. 
 
 Messrs. Chapman & Company at the solicitation of many of their friends, who have long 
 honoured them with their confidence, and of other respectable individuals in this neighbourhood, have 
 agreed to convert their Banking Establishments at Newcastle, North Shields, and South Shields, with 
 the Branch at Morpeth (which have been in prosperous existence for many years), into a Joint Stock 
 Company, under the above designation. 
 
 They have made arrangements with the Provisional Committee for this purpose, and often the 
 following as an outline of the proposed constitution of the Company." 
 
 The particulars are too long to give in full. The leading points are the 
 following : — 
 
 Change from Private to Public Bank 1st July, 1836. Present banks under management of present 
 partners — Manager to be appointed for Sunderland — William Chapman, General Director. Capital 
 £300,000. 30,000 shares of £10 each. To be increased when necessary to £500,000. Present shares to be 
 appropriated as follows:— 3,000 to the present partners at par— one half of the remainder to such 
 Customers and Friends of the Bank as may wish to take them at par. The rest to the Public at a 
 premium of £1 per share. Provisional Committee to appoint directors and allot shares. General 
 meeting of Shareholders to be held in Newcastle, June 28th, at which three Shareholders residing at 
 Newcastle, two at North Shields, two at South Shields, and two at Sunderland shall be elected Directors 
 for the first year. On first allotment no application less than five, or more than 200 shares. Directors 
 to have power to grant a Customer cash credit to the extent of two thirds of his paid-up capital. A 
 
I 32i] 
 
 form of application is attached, and the document concludes : — " June 8, 1836, We take the liberty to 
 hand you the annexed prospectus, from which you will learn that at the solicitation of many of our 
 friends, we have been induced to form our present establishment into a Joint Stock Bank," etc., etc. 
 
 It is not stated on the prospectus, but from the account of Messrs. Chapman's 
 bank, we gather that ^2 0,000 was to be paid to the vendors for the good will of 
 the business (see page 22^. 
 
 The shares appear to have been well taken up. The allotment letter is dated 
 June 2ist, 1836, and announces a general meeting of the shareholders at the Turf 
 Hotel, Tuesday, 28th June, for choosing directors, &c. A list is before me of 
 persons holding fifty shares and upwards ; it contains 178 names, many of them 
 being well known in the district. Wm., J. M., and Abel Chapman of Newcastle ; 
 Edward H., Edward W., and Thomas Chapman of London ; are all on the list. 
 
 The first report is presented to the proprietors July 25th, 1837. General 
 congratulations are expressed. 
 
 '• The Directors consider it due to Messrs. Chapman & Co. to state that the representations of those 
 gentlemen have been fully verified, and they have the gratification of stating their conviction that no 
 Bank can be in a more sound and healthy condition." 
 
 The system is highly approved, business has increased, more agencies are to 
 be opened, those now reported are : — 
 
 Alston - - - Mr. Jos. Dickinson, jun.* ... 28 July, 1836. 
 Hartlepool - - „ Thos. Rowell - - - - 29 „ „ 
 
 Hexham - - >, John Oliver - - - - 12 Oct. ,, 
 
 Blyth - - . „ William Shepherd . - - 18 „ „ 
 
 Alnwick - - - „ Edward Thew, jun. ... 16 Nov. ,, 
 
 The sum of £3,430 has been received as premiums on shares allotted, " which has been applied to the 
 reduction of the Bonus Account, leaving a balance due thereon of £16,570, which the directors expect 
 will be greatly liquidated by premiums on the 6,375 shares which remain to be disposed of." f 
 £11,785 15s. remains for distribution. £2,631 Is. 3d. to the Guarantee Fund, and a dividend of £10 per 
 cent, upon paid-up capital are proposed ; . . . " most favourable expectations may be entertained 
 as to the future." 
 
 (Signed) WILLIAM CHAPMAN, Chairman. 
 
 The second report was submitted at a meeting held in the Assembly Rooms, 
 Newcastle, 30th January, 1838. General congratulations were again exchanged, 
 and a 10 per cent, dividend recommended. The principal business reported was 
 union with Sir Wm. Chaytor & Co., bankers, at Sunderland. One thousand shares 
 were granted to the said firm, and their business carried on at Sunderland, 
 Durham, and Hartlepool was transferred to the Union Bank. 
 
 * Subsequently Mr. Dickiuson became a banker at Alston, and conducted business there until 1890, when the 
 bank was taken over by the Carlisle City and District Bank, Mr. Dickinson acting as the agent for that 
 company, which position he still retains. 
 
 + It would thus appear that from the bonus account was to come the £20,000 that bad to be paid to Messrs. 
 Chapman for good will. 
 
 0^ 
 
 ^1 
 
[322] 
 
 Mr. Matthew H. Chaytor took joint management at Sunderland with Mr. Ord, 
 Mr. Ramshaw continued at Durham, and at Hartlepool, Mr. Rowell, the manager 
 of the " Union," was installed. 
 
 From the commencement of the bank, the entire management of the North 
 Shields branch was in the hands of Mr. Robert Spence. In July, 1838, it was 
 proposed that Abel Chapman be appointed assistant manager at Newcastle, while 
 John Mellor Chapman the Newcastle manager was relieved from constant 
 attendance, but was to give personal services as required at a reduced salary. 
 
 In Jul}', 1841, "The directors are glad to state that the alterations made in the Newcastle House 
 with the further improvements of which it is capable, have saved the Cost of a New Building." 
 
 About this time Messrs. Chapman removed from their premises in St. Nicholas' 
 Square (now Messrs. Franklin's) to the old house so long occupied by Sir M. W. 
 Ridley's bank at the corner of Mosley and Pilgrim Streets (now Messrs. 
 Woods & Co.) 
 
 In July, 1843, the subject is further alluded to : — 
 
 " The directors have to state that they have just completed the desirable purchase of the premises 
 now occupied in Newcastle which with moderate alterations, will afford all the Accommodations of a 
 New Banking House and save the Company the expenditure of a large sum. They have also made 
 a good sale of the House in St. Nicholas' Square." 
 
 The thirteenth report was submitted July 28th, 1846 : — 
 
 •' The Directors desire to give publicity to the Minute which was recorded by them on the melancholy 
 occasion of the death of Mr. Robert Spence, the manager of the North Shields Branch. ' In reference 
 to the death of Robert Spence, Esq., which took place on the 17th August last, the directors are at a 
 loss how to enter any Minute expressive of their feelings of respect and attachment to his honoured 
 memory, in common with all who knew him. They desire to record their admiration of his character 
 in his unblemished integrity, in his devoted attention to the duties of his office, and in the courtesies 
 and sympathies of life by which he was ornamented, and which caused him to be greatly beloved.' 
 Mr. Robert Spence was immediately appointed to succeed his excellent Father, under whom he long 
 acted in the most exemplary manner ; and although his state of health rendered it necessary that 
 he should spend some months in Madeira, the Directors are glad to say that he has returned home 
 much restored, and is again discharging his official duties," 
 
 Regret is also expressed that Mr. Chaytor had resigned the management at 
 Sunderland, as he had settled in London. Mr. Armstrong was appointed manager 
 in his place. 
 
 The fourteenth report is a most important one, and was presented July 27th, 
 1847. The usual dividend of 10 per cent, is recommended. ;^5,268 6s. 7d. is 
 carried to the Guarantee Fund, which then amounted to ^60,444 15s. lod. 
 
 " Notwithstanding the general restrictions in Trade, the business of the Bank has increased, and has 
 been of that legitimate character as to afford the prospect of continued advancement." The directors 
 and managers are recorded as : — " Samuel Parker, John M. Chapman, and Ralph Wilson for 
 Newcastle ; Thomas Atkinson and William Brown for North Shields ; Robert Anderson and John 
 
[^22,] 
 
 Eden for South Shields. Tha Branches are :— North Shields— Robert Spence. South Shields- 
 Joseph Hargrave. Sunderland — Henry Armstrong, Managers. — Durham — W. Ramshaw. Alnwick — 
 Edwd. Thew, jun. Berwick— Andrew Mallock, Agents. The Report is signed by William Chapman, 
 General Director." 
 
 The bank had a note issue of which an example is here given. 
 
 uJiuit 
 
 ^Kn\^ 
 
 If? til 
 
 -i/^jy 
 
 
 ^^- /" ^ Ar^^^- 
 
 -A 
 
 
 In the spring of 1847 there had been a period of sharp financial pressure, and 
 apprehension had been aroused in Newcastle by the failure in March of the North 
 of England Joint Stock Bank. During August and September failures among the 
 large commercial houses in England and Scotland were incessant. On the 21st of 
 October, when the panic was at its height, the Union Bank closed its doors. 
 The sudden stoppage of the bank caused a great sensation in the town, which was 
 increased by the report that William Chapman, the managing director, had 
 decamped. 
 
 A special general meeting was called immediately after the stoppage, and was 
 held on the 29th of October. "William Woods of Newcastle-upon-Tyne, 
 merchant, holder of 470 shares, was called to the chair, and the following 
 shareholders — William Woods, Robert Pow, Errington Bell, Wm. Ord, John 
 Dryden, William Anderson, Thomas Barker, Thomas Hewitt, and William Chaytor, 
 were appointed a committee to assist the directors and solicitor of the bank in 
 examining into the affairs of the Company, and were empowered to adopt such 
 measures as they might deem advisable for arranging the affairs of the bank and 
 protecting the interests of the shareholders." Mr. Woods was elected chairman, 
 
[3^4] 
 
 and the committee proceeded at once to draw up and issue " The Basis of a Plan 
 which they recommended to the shareholders for resuming the business of the 
 Bank." Among other changes it provided that the office of General Director 
 should be abolished, and that there should be one manager and two responsible 
 paid directors associated with him in authority. The capital was to be provided 
 by the creation and issue of 30,000 7 per cent. £10 preference shares, upon which 
 £^ was to be paid. The note issue to be abandoned, Bank of England notes only 
 to be circulated. 
 
 The report of this committee was presented to an adjourned general meeting 
 on the 8th August, 1848. It shows that the liabilities of the bank at the date of 
 its stoppage were ^1,741,572, and that already the gross liabilities to parties other 
 than shareholders were reduced to ^309,724. The utmost amount of the ultimate 
 deficiency which the shareholders would be required to meet was estimated at 
 ^80,000. Meanwhile a call of two pounds had been made upon the ordinary shares 
 of the company, and this was followed at frequent intervals during the next two 
 years by other calls, amounting in all to ^20 on each of the original ^10 shares. 
 
 Mr. Woods in his opening remarks as chairman of the adjourned meeting, 
 stated with regret, that the scheme for immediate reconstruction had not received 
 a sufficient support, and that a proposal from the National Provincial Bank to 
 purchase the North and South Shields branches had been declined. He moved 
 that the North and South Shields branches of the Union Bank should be forthwith 
 reopened, and that the capital required should be provided by a loan from 
 individual shareholders at 6 per cent. He announced that the management would 
 be entrusted to Mr. Robert Spence, and that "it was due to Mr. Spence to state 
 that if the affairs throughout had been conducted with the same ability as at North 
 Shields, the shareholders would not have been assembled there that day in the 
 unfortunate circumstances in which they were placed." 
 
 Notwithstanding the stoppage of the company, business had been continuously 
 transacted with several of the customers, and although only £2,000 of the 
 promised capital was at first forthcoming, the reopening of the offices at North 
 and South Shields was so successful, that it was followed in November of the same 
 year, by the opening of the Berwick branch. In 1849 the offices at Newcastle and 
 Sunderland where the company had sustained all its serious losses, were also 
 reopened. At the annual meeting in 1850, the auditors in their report suggest that 
 Mr. Spence should transfer his management to the Newcastle bank, and that it 
 should be made the head office. Mr. Woods acted as chairman of the directors 
 from 1849 to 1853, and gave constant attention to the business. His co-directors 
 were : — For Newcastle — Samuel Parker and George Bargate. North Shields — 
 
[3^5] 
 
 Thomas Barker and Robert Pow. South Shields— ^\\\mm Anderson. Sunderland — 
 William Ord. Trustees^^iWmm Woods, Robert Pow, and Charles Henry Cooke. 
 Auditors — George Baynes, William Douglas, Joseph Blacklock. 
 
 The net profits, which for the past year were stated at ^13,251, were rapidly 
 and steadily increasing; and there seemed every reason to expect that the 
 shareholders, who had for the most part met their calls with promptitude, would 
 not only be freed from any ultimate loss, but would become proprietors of a 
 business much more safe, profitable, and extensive than that of the Union Bank 
 under William Chapman. Unfortunately, however, in January, 1853, John Teather 
 of Alstonby, whose name appears frequently in the reports as a seconder of 
 resolutions, declined to continue the payment of his calls, and in consequence, 
 having been sued by the company, he presented a petition to the Court for its 
 dissolution under the Joint Stock Companies' Winding-up Act of 1848-9. 
 
 A report signed by William Woods as chairman of the directors and committee 
 was presented to a general meeting of the shareholders on the 8th Janiiary, 1853, 
 and on the motion of Mr. Woods it was decided that the affairs of the company 
 should be placed under the provisions of the Winding-up Act, and further, it was 
 resolved : — 
 
 " in order to preserve the valuable and increasing business of the Company, to establish a new bank 
 under Sir Robert Peel's Banking Act, in which each shareholder shall have an opportunity of taking 
 shares, and until that object shall have been effected, the business shall be taken up and carried on by 
 six gentlemen, who will provide the necessary capital, and who will be ready to transfer the business 
 to the new Company when formed. 
 
 The six gentlemen who undertake to carry on the business intermediately, and whose names 
 will ensure the confidence of the shareholders and the public, are : — 
 
 William Woods, Esq., ) 
 
 , „ , ^ \ Newcastle. 
 
 Samuel Parker, Esq., ) 
 
 William Ord, Esq., Sunderland. 
 
 Thomas Barker, Esq.jX 
 
 Robert Pow, Esq., (• North Shields. 
 
 John Dryden, Esq., 
 
 To whom a transfer will be made of the Current Accounts and who will hold the bank premises 
 under a lease until the new Company shall be formed." 
 
 It was also resolved that the following gentlemen should be recommended as 
 official managers under the Winding-up Act : — " Mr. George Bargate, William 
 Anderson, Esq., J.P., Mr. John Rennison, Mr. WiHiam Douglas." 
 
 Arrangements for the formation of the new company were immediately set 
 on foot, and when the share list was closed at the end of January, 1853, applications 
 had been received for about 1,800 shares, the number to be issued being 1,000. 
 A meeting was held for allotment of shares, but some difference of opinion 
 having arisen between two of the members of the committee as to a proposed 
 increase of the capital, nothing was actually done, and two years elapsed before 
 
\.J26^ 
 
 another meeting, called by Mr. Woods on behalf of the Committee, was held at 
 the Assembly Rooms. It was then decided that the formation of the new bank 
 should be proceeded with forthwith, and that the capital should be ;^2oo,ooo. The 
 profits made during the previous two years were stated at £^[6,2^^2, and the work 
 of establishing the new company was delayed during the whole of 1855 by a 
 discussion as to the proportion of this profit which should be allotted to the official 
 managers. Owing to the suspension of the Royal British Bank in 1856, it was 
 considered prudent by all parties concerned to delay operations until the following 
 spring. Discussion was continued up to the date of the stoppage of the District 
 Bank in 1857, when Chancery proceedings, which had been instituted by the official 
 managers, were deferred owing to a desire that the general business of the Union 
 Bank might not be inconvenienced during the monetary crisis. 
 
 The project for the formation of a new Joint Stock Bank was not again 
 revived, and during the next two years negotiations between Mr. John Clayton, 
 acting for Messrs. Woods, Parker, & Co., and Mr. Joseph Watson for the 
 shareholders and official managers, resulted towards the end of the year 1859 in 
 the purchase of the business by the former. The Newcastle papers of the day 
 commenting on the change, prophesy " a career of great prosperity and usefulness 
 to the now private bank of Messrs. Woods, Parker, & Co." 
 
 Mr. Spence, whose energies had been entirely devoted to the interests of the 
 old shareholders, resigned the management, and joined in the establishment of the 
 new firm of Messrs. Hodgkin, Barnett, Pease, and Spence, in March, 1859. 
 
 IRortbern Countiee' BanF?. iRcwcastie-upon-xrpne. 
 
 Founded 1871. Failed 1881. 
 
 'HE Investors Guardian for 21st January, 1871, states : — 
 
 T 
 
 " As the name imports, this is a Banking Company with a capital of £50,000, in 1,000 shares of 
 £50 each, the objects being to carry on the business of bankers, money brokers, and bill discounters, the 
 lending of money to any person or persons whatsoever upon real or personal security, the discounting 
 of Bills of Exchange and promissory notes, &c. The first directors were to be John Summerskill, 
 Grainger Street, Newcastle, Commercial Traveller ; W. H. Darnell, 66, Clayton Street, Draper ; J. H. 
 Eutherford, Elswick Lodge, Surgeon; James Taylor, Campbell Street, Draper. Qualification for 
 director, 20 shares — remuneration £1 Is. for every attendance to directors. Mr. Edwin Ovenden shall 
 be manager, who shall have a seat at the board, and shall not be discharged during the first five years 
 after the registration of the Company, or at any other time except by special resolution at general 
 meeting." 
 
\.?,27^ 
 
 It was announced that business would bs commenced at Cross House, 
 Westgate, on February 20th, 1871, Edwin Ovenden being manager. Mr. Ovenden 
 had previously been manager of the Northern Counties' Loan and Discount 
 Company. 
 
 In July, 1 87 1, the first ordinary half-yearly meeting was iheld, when a most 
 favourable report was submitted. The trading had only been for four months, but 
 
 "besides making a considerable reduction from the charges of formation, the Company have declared 
 a dividend at the rate of seven and a half per cent, per annum, and have also carried a considerable 
 sum to the formation of a reserve fund." 
 
 On April 13th, 1872, Mr. Ovenden writes an indignant letter to the editor of 
 a local paper, drawing his attention to the fact that he had omitted the Northern 
 Counties' Bank from a list of the banks of the town of that day, stating : — 
 
 " We are registered under the same Acts as the North Eastern Bank ; have our London Agents, 
 Banker's Licenses, Open Current Accounts, Issue Drafts, Advise Bills, Compound with Government 
 for the issue of unstamped Bills of Exchange, and transact every operation connected with banking." 
 
 At the fourth general meeting held in August, 1872 (William Henry Darnell, 
 Esq., presiding), the directors reported that " the accounts and securities having 
 been thoroughly audited and investigated by the accountants, show a considerable 
 increase of business during the half-year." After making due allowances for 
 depreciation, &c., a dividend was recommended of 10 per cent. It was further 
 reported — 
 
 " that your directors are of opinion that the time has now arrived when the continual increase of 
 business renders an increase of capital essential ; this may be done either by allotting the remaining 
 shares or making further calls. This subject will receive careful and due deliberation and the result 
 be communicated to the shareholders." 
 
 At the meeting in February, 1873, it is stated : — 
 
 " The accounts having been thoroughly audited and certified, the directors congratulate the share- 
 holders on the steady progress the Bank continues to make," 
 
 a dividend of 10 per cent, being recommended. In 1874, July 31st, they state : — 
 
 " Notwithstanding the general dulness in trade the bank has continued to make steady progress, 
 every department showing some degree of advancement. Deposit accounts continue to increase and 
 now amount to £38,925 123. 9d." 
 
 A dividend of 8 per cent, is recommended. At the meeting in Januarj'-, 1875, the 
 directors say : — 
 
 " In pursuance of the necessity for increased capital referred to in the last report, the directors 
 propose to offer 2CX) new shares to the present shareholders at £4 per share premium, such premium to 
 be paid by two instalments, viz., £2 with the first call and £2 not within six months after, but should 
 these not be speedily taken up by the present proprietary, they will be offered to the public at a 
 premium of £5, of which £3 is to be paid on allotment, and the remaining £2 six months after." 
 
 A dividend of 7^ per cent, was recommended. In January, 1876, the dividend 
 dropped to 5 per cent., the same amount being paid the next year. At the 
 meeting held February 5th, 1878, it was announced that Mr. Darnell had retired 
 
[328] 
 
 from the management, and that Mr. Henry John Robson had been appointed in 
 his stead. Things progressed to the pubhc eye, much in their usual manner, until 
 September, 1881, when reports began to be circulated regarding the stability of the 
 bank, which unfortunately became confirmed on September 13th, by the doors 
 being closed and the following notice posted on them : — " The Northern Counties 
 Bank, Limited. Payment suspended, September 13th, 1881." 
 
 A meeting of the shareholders was held during the day ; it was then stated 
 that if voluntary liquidation were adopted, they hoped to be able to pay 20s. in 
 the £. The investigations that followed disclosed a melancholy state of affairs, 
 and, the more they were looked into, the worse they appeared. Mr. Edmund 
 Nichols was appointed liquidator. 
 
 IRortb^'iEastern Banking Co*, Xt). iRewcastie-upon irrne. 
 
 Established 1872. 
 
 THE collapse of the Northumberland and Durham District Bank in the late 
 autumn of 1857, left the trade of Newcastle again in the hands of the 
 private banker. It was fifteen years before another vigorous effort 
 was made to establish a bank on the joint stock principle. It is true that 
 three flickers appeared, the "London and Northern" in 1862, the "London Bank 
 of Scotland " in 1864, and the "Tyne Exchange" in 1865, but they each came so 
 quietly, and passed from the busy centre of Newcastle life so rapidly, that in the 
 present day their short existence has been almost forgotten. 
 
 The earliest note that I have of the formation of the North-Eastern Bank, is 
 contained in a private letter from a London banker to a friend in Newcastle, dated 
 March 25th, 1872. He writes that it had been talked of for some time, and that 
 the promoters were all gentlemen in good position, namely : — William John 
 Wilkinson, Ealing, solicitor ; Sir James Anderson, 16, Warrington Crescent ; Lord 
 Wm. Montague Hay, The Albany ; J. B. Wauklyn, i. Angel Court ; Wm. M. 
 Wilkinson, 44, Lincoln's Inn Fields ; John S. Louth, 28, Palmerston Buildings ; 
 W. Abbott, 10, Token House Yard, stock-broker. During the following month 
 the prospectus was issued. It announces : — 
 
 " Issue at Two Pounds per Share Premium of 50,000 Shares of £20 each, £10 per share to be 
 paid up, of the North Eastern Banking Company, Limited. Head Offices — Newcastle-on-Tyne, 
 Middlesborough-on-Tees. Incorporated under . . . conferring Limited Liability, 
 Total Capital .. .. .. .. £1,020,000 
 
 Cash Capital to be Paid up .. .. .. £500,000 
 
 Reserve Fund (derived from Premiums) . . £100,000 
 
[3^9] 
 
 The Capital of the Company is composed of — 
 I. — " Fifty thousand Ordinary Shares of £20 each (now issued at £2 premium), £10 per share to be paid 
 as follows : — £1 on application, £2 on allotment, £1, and £2 per share premium, in three months 
 from date of allotment, £6 in six months from date of allotment. 
 II. — One thousand Deferred Shares receiving no dividend in any one year until seven per cent, has been 
 earned on the paid-up capital of the Ordinary Shares, then to receive one-fifth of the surplus 
 profits, to be given in payment of all promotion and preliminary expenses. No Cash preliminary 
 expenses of any kind whatsoever are to be charged to the Company, which will commence 
 business with its Ordinary Capital perfectly intact and a Reserve Fund of £100,000 equal to £20 
 per cent, of the £500,000 Capital to be paid up. 
 Directors : — William Brown, Gateshead (late John Abbott & Co.) ; George Cayley, Malton ; Thomas 
 Hedley, Coxlodge (Chairman of Gas Co.); R. W. Hodgson, Gateshead; Sir Harcourt Johnstone, 
 Bart., M.P., Hackness Hall, Scarborough; the Hon. George Edwin Lascelles, Sion Hill, Thirsk ; 
 J. Stovin Pennyman, Ormesby HaU Middlesboro' ; George Wilson, Whitby. Managing Director — 
 Benjamin Noble, Newcastle upon-Tyne (late manager of the Clydesdale Bank at Greenock). Bankers — 
 Glyn & Co., London ; Union Bank of Scotland, Glasgow. Solicitors — Wilkinson & Son, London. 
 Auditors— John Cleghorn and Robert Fletcher. Secretary {pro tern.), Hurst Daniell. Temporary 
 Offices, Newcastle — St. Nicholas' Buildings ; Middlesboro' — Royal Exchange Buildings." 
 
 The prospectus states that the bank is formed to supply further banking 
 facihties which are required in the North Eastern counties, especially Newcastle- 
 upon-Tyne, and the Cleveland Iron district. It draws attention to the development 
 of the North Eastern district in trades connected with Iron, Coal, Machinery, 
 Chemicals, Shipbuilding, &c. — to the great increase in the value of North Eastern 
 Railway Stock — the vessels cleared on the river Tyne — and gives the usual tempting 
 hst of prices of other prosperous Joint Stock banks. 
 
 The directors state they " have secured as managing director the services of 
 Mr. Noble, who has successfully managed the Clydesdale bank at Greenock, up to 
 the present time, and who is thoroughly acquainted with the principles of banking 
 prevailing in Scotland, which this company proposes as far as possible to adopt." 
 
 Mr. Hugh Rose (from Messrs. Glyn & Co., London) was appointed Secretary, 
 June 27th, 1872. The bank opened for business May 21st, 1872, at Newcastle, 
 and about a week later at Middlesborough. 
 
 The first report of the company was issued in February, 1873, the meeting of 
 shareholders being held at the Station Hotel, York. 
 
 " The directors congratulate the shareholders on the success which has attended the operations of the 
 company. Since it commenced business in Newcastle and Middlesborough at the end of May last, 
 branches have been advantageously opened at West Hartlepool, Consett, Jarrow, and Gateshead ; and 
 also under circumstances of much promise at Barrow-in-Furness. . . . The balance sheet shows 
 that after paying all expenses, and allowing for depreciation of bank property, and for rebate on 
 undue bills, there remains an available balance of profit amounting to £4,756 2s. 8d., equal to rather 
 more than four per cent, per annum on the capital as paid up. . . . The directors recommend that 
 £4,000 be paid out of the profits by way of dividend at the rate of two shillings per share free of 
 income tax, being equivalent to three-and-a-half per cent, per annum, and that the balance of £756 
 2s. 8d. be carried forward." 
 
 The business of the bank was considerably augmented in 1875 by the purchase 
 
[330] 
 
 of the Alnwick and County Bank (see page ijj). From time to time" various 
 branches have been opened, and the business expanded until 1892, when another 
 considerable addition was made by the amalgamation with Messrs. Dale, 
 Young, & Co., of Newcastle and South Shields (see page 255). 
 
 The branches now exceed forty in number, and are stationed at most of the 
 business centres in the two northern counties. The shares have steadily increased 
 in market value. 
 
 The original managers (Messrs. Noble and Rose) are still in office. The hfe 
 of the bank is now longer than that ever attained by any joint stock bank in the 
 Newcastle district. 
 
 IRortb of lEnolanb 3oint Stoch Banking Co, 
 IRevvcastle = upon - 'Q;^ne. 
 
 Established 1832. Failed 1847. 
 
 DOUBTLESS the vigorous writings and strenuous advocacy of " Banking 
 upon Joint Stock Principles," by Thomas Joplin, were effective in 
 leading the people of the north to establish a joint stock bank, though it 
 was not until four years after the passing of the Act which enabled banks to have 
 more than six partners, that they availed themselves of its provisions. Before me 
 is a prospectus that was issued in 1832, and as it is almost the first of its kind that 
 appeared in Newcastle, I extract from it extensively : — 
 
 " Prospectus of a Joint Stock Banking Company to be established at Newcastle-upon-Tyne, under the 
 title of ' The North of England Joint Stock Banking Company.' Capital, Two Millions. 20,000 
 Shares, £100 each. 
 
 Until the year 1826, Joint Stock Banks which had for so long a period, proved highly beneficial 
 to Scotland, could not legally be formed in England. At that eventful crisis of commercial panic and 
 distress, the Legislature wisely removed those restrictions which had for many years been imposed in 
 favour of the Bank of England, and which limited the number of partners in other Banking 
 Establishments to six— restrictions which were the chief cause of our Banking system being formed 
 upon principles not merely inadequate in their operation, but ruinous in their tendency." 
 
 Then follow quotations from speeches of Mr. Peel, made in the Parliamentary 
 Debates of 1826; and some remarks upon the note question. The prospectus 
 continues : — 
 
 " Little more need be added in recommendation of Joint Stock Banks; the subject has for the last 
 10 years attracted the attention of the people of England. The principles upon which they are 
 formed have been fully investigated and fully approved. Their peculiar advantages consist : — 
 
 1. In affording ample and unquestionable security to the Public. 
 
 2. In being able to transact business at a cheap rate. 
 
 3. In the extensive accommodation they are able to afford. 
 
 These and other advantages of Joint Stock Banks arise, First, from the individual and collective 
 responsibility of the Shareholders. 
 
l33i] 
 
 Second, from their having a large available capital devoted solely to the business of Banking. 
 
 Third, being under no apprehension of a run, they can discount Bills of longer date, and lend 
 Money on proper security for longer periods, than can be expected in Banking Establishments where 
 the number of Partners is limited. 
 
 Joint Stock Banks have been formed in Liverpool, Manchester, Birmingham, SheflBeld, Norwich, 
 Huddersfield, Bradford, Halifax, York, Lancaster, Carlisle, Darlington, Workington, Whitehaven, &o. 
 Many of these Banks have established Branch Banks . . . and we are compelled to believe 
 that the time is close at hand when a Joint Stock Bank will be formed in every Town of importance 
 in this Kingdom." 
 
 A most tempting list is given of the comparative value of shares in many of 
 the existing joint stock banks, and the promoters finally state : — 
 
 " The success of Joint Stock Banking Companies is thus sufficiently proved. If this town and 
 neighbourhood had never suSered from private banks, and if a sufficient number of them existed, so 
 that capital and competition caused the greatest accommodation to be afforded on the lowest possible 
 terms, yet the superiority of the principle on which Joint Stock Banks are formed, renders it of the 
 highest importance to the welfare and prosperity of the district, that such a public company should be 
 established in Newcastle." 
 
 A list is given of solicitors in London and all the principal towns from 
 Darlington to Berwick where prospectuses may be obtained. Messrs. Carr and 
 Jobling, and George Tallentire Gibson, were the local solicitors. A meeting was 
 fixed for September 6th, in the Assembly Rooms, Newcastle, to receive the report 
 of the provisional committee, to appoint directors, and make arrangements for 
 commencing business. 
 
 On September 20th a General Meeting was held, when the directors appointed 
 were : — " Thomas Richard Batson, Nathaniel Grace, Thomas Brown, James 
 Lowndes, Anthony Clapham, James Carr, Charles Attwood, George Burdis, John 
 Scott, William Maude, esquires, and Lieut.-General Austin." Thomas Richard 
 Batson and Nathaniel Grace were elected managing directors. It was announced 
 that premises had been taken in the west end of the Arcade, and as soon as possible 
 business would be commenced. The offices were in Pilgrim Street, on the north 
 side of the entrance to the Arcade, now owned and occupied by Thos. Young and 
 Sons. 
 
 On November 24th, it was announced that the Deed of Settlement was ready for 
 execution at the office of Messrs. Carr and Jobling, solicitors, Mosley Street, where 
 copies might be had by shareholders, and all subscribers were requested to pay in the 
 amount of the first call before December ist, on which day it was intended to open 
 the bank. It would appear that some dispute or difference must have arisen 
 amongst the promoters, as the Newcastle Chronicle of December ist has the 
 following advertisement : — 
 
 " North of England Joint Stock Bank. — Notice is hereby given that we the undersigned do not 
 continue members or co-partners in the North of England Joint Stock Bank, and we do hereby 
 
[33^] 
 
 expressly dissolve the said co-partnership or company, and require the same or the affairs thereof to 
 be immediately wound up, and the present funds applied to the satisfaction of the debts and engage- 
 ments of the concern, and the surplus distributed. — November 23rd, 1832." 
 
 The document bears about seventy signatures. This probably led to changes 
 in the officials, which according to the Deed of Settlement were : — 
 
 Managing Directors— Thomas Richard Batson, Esq., Chairman ; Nathaniel Grace, Esq. Directors- 
 Thomas Brown, Esq. ; Benjamin Thompson, Esq. ; Mr. Anthony Clapham, Merchant ; John Carr, Esq. ; 
 George Burdis Esq. ; William Maude, Esq, ; General Austin ; Mr. George Walker, Merchant ; Mr. 
 Andrew White, Merchant. . . . Manager— Mr. George Lockwood. Solicitors— Messrs. Carr and 
 Jobling. Bankers in London — Messrs. Jones, Loyd, & Co. 
 
 Notwithstanding the notice quoted, the bank was opened on December ist, 
 1832, and the event was commemorated by a dinner in the Assembly Rooms, 
 General Austin in the chair. The bank soon availed itself of the presence of the 
 Branch Bank of England, and opened an account with them early in 1833. In 
 1844 Samuel Hedley is recorded manager. The bank issued its own notes (of 
 which the following is an example) until 1842, when they were withdrawn, and 
 only the paper of the Bank of England circulated. The business extended 
 rapidly, and branches were opened at Sunderland, North and South Shields, 
 Durham, Berwick, Morpeth, Blyth, Hexham, Alnwick, and Wooler. 
 
 
 
 7// A />////, 
 
 i ^eluwotif upoiijJ'inu* 
 
 ^ . 
 
 ) / 
 
 In 1846 an extensive robbery occurred at the Berwick branch. 
 
 " Great sensation was created in Berwick (on August 21st), on it becoming known that the North of 
 England Branch Bank had been entered through the night, and notes and coin to the amount of £3,000 
 carried away. It appeared that Mr. Thompson, the agent, was from home, and Mr. Short, the senior 
 
[333] 
 
 clerk, slept on the premises in his absence. In the morning, the robbery was discovered by a servant, 
 when the safe was found unlocked, a bolt proceeding from the room above having been raised, and the 
 whole of the property removed. On the police examining the premises, it was suspected that the 
 robbery had been effected by some one in the house, and on search being made, a large quantity of 
 silver and notes was discovered in the yard, and the remainder of the missing property in Mrs. 
 Thompson's bed-room, where it was concealed in pillow-cases, &c. Mrs. Thompson was immediately 
 apprehended, and was tried for the ofEence on the 26th October, before the Recorder, Mr. Ingham, but 
 the testimony of the female servants being somewhat contradictory, she was acquitted." 
 
 By 1847, the shareholders had reason to find that banking, even on joint stock 
 principles, if not properly managed, is subject to disaster and failure. 
 
 In the spring of the year named, the officials were pressed for money. 
 Eventually, two of the directors went to London to make final arrangements with 
 the London and Westminster Bank for the future working of the account. Matters 
 were almost settled when on Saturday morning, March 6th, the London house 
 "came to the determination to refuse to honour the drafts of the Newcastle bank," 
 which step necessitated closing the doors of the Newcastle establishment, and of 
 all the various branches. 
 
 It soon transpired that of the ;^2 ,000,000, the proposed capital, the amount 
 really paid up was only ^^340,9 5 5, on 18,098 shares, with 420 proprietors, who 
 were on the register at the time of failure. Very heavy losses had been incurred 
 soon after the commencement of business, and it was stated that within five years 
 of its birth, all the original capital had been lost, and the shares written down from 
 ;^ioo to ^20. At the time of suspension, the liabilities were said to be ^1,864,856, 
 and the deficiency estimated at ^144,493, but eventually the shareholders had to 
 pay about three times the latter amount. 
 
 Attempts were made to raise the required sum by voluntary call, but it was 
 unavailing, and the bank had to be wound up under the Joint Stock Companies' 
 Winding-up Act, in November, 1848. Three official managers were appointed — 
 Messrs. Henderson, Hewson, and Ross. A call of ;^30 per share brought in 
 ;^240,ooo ; a second call of ^20 produced ^100,000 ; a third of ^15 only ^35,000 — 
 showing the difficulty the shareholders had to meet the payments. Subsequently, 
 the small number of shareholders who had met all the calls, received 
 repayments first of £},, then of £^, and lastly of I'j per share. 
 
 Shortly after the suspension, the directors determined to return all deposits 
 under £-^o, and all sums deposited for special purposes. "One firm had paid 
 in on Saturday, upwards of ^1,000 to meet an engagement on Monday. The 
 determination of the directors is spoken of as highly creditable." For some time 
 prior to the stoppage, a dividend of 5 per cent, had been regularly paid. 
 
[334] 
 
 A very great deal of distress was caused throughout the north of England, 
 many of the shareholders having to seek the protection of the Bankruptcy Court. 
 One quotation will indicate how some other unfortunate investors were affected : — 
 
 " lS'i7, April 26. Mr. Thomas Harrison, a repectable plumber and glazier in Alnwick, GO years of 
 age, committed suicide this morning while in a depressed state of mind, arising from his heavy 
 liabilities as a shareholder in the North of England Joint Stock Bank." 
 
 A shareholder, who at one time had been a managing director, at his death had 
 left special instructions that his shares should be sold at whatever price they might 
 fetch. This led some to suspect that the business was not sound. 
 
 Mr. Mewburn, in the Larchfield Diary, says : 
 
 " It is often asked what led to the stoppage of this Bank. The answer is that the first directors drew 
 out in the first twelve months one half of the capital ; the consequence was, that to enable them to 
 get business, they accommodated all sorts of speculators. Thus they went on, until there was an 
 enquiry into the state of their affairs, when it was ascertained there was so large a loss that the shares 
 were reduced from £100 to £20 per share. A new manager was appointed, who conducted the concern 
 securely, but in truth profitlessly. This gave dissatisfaction, another new manager was appointed, and 
 some fresh adventurous directors also. They plunged into all sorts of accommodations; corn 
 speculators and coal owners cum multus aliis, opened accounts with them. In short, the Bank was 
 found in most of the bad concerns in and about Newcastle. The shares being reduced to £20 each, 
 and the dividends apparently large, persons of small capital purchased into the Bank, and even persons 
 of substance were tempted to buy shares. But observers of passing events in Newcastle saw how the 
 concern was conducted, and for two years previously to the failure pressed on their friends the 
 prudence of selling out. The directors durst not refuse their assent to sales of shares for fear of too 
 early an exposure. The result was that on the stoppage of the Bank there were found few good 
 proprietors." 
 
 A Newcastle paper, dated November 3rd, 1870, states : — 
 
 " North of England Joint Stock Banking Company. — We understand that the official managers of 
 this Bank propose, forthwith, with the sanction of the Master of the Rolls, to make a further return 
 of £6 per share out of surplus assets to the contributors, making with returns already made, £29 per 
 share. The Bank stopped payment on the 6th March, 1847, with liabilities exceeding £1,864,000. 
 On the 17th November, 1848, an order was obtained for winding-up its affairs, the official managers 
 appointed being John Henderson, Esq., M.P., of Leazes House, Durham ; John Hewson, Esq., of 
 Carlisle ; and James Ross, Esq., of Stanwix, near Carlisle, three shareholders, to whom the winding- 
 up of the Bank was originally entrusted. Mr. Hewson died in 1856, and since that date the 
 liquidation has devolved solely upon the survivors. On 17th November, 1848, the liabilities had been 
 reduced to about £522,000, and it is now many years since the creditors were paid their debts in full, 
 with interest at five per cent. Three several calls were made by the court, amounting altogether to 
 £65 per share. The amount divided among the contributories, including the proposed return, is over 
 £85,000. This result, we believe is unparalleled in the liquidation of public companies, and has been 
 obtained only by the most unwearied exertion on the part of the official managers. Many of the 
 assets were of a very doubtful value, and had they been forced upon the market in the earlier stage of 
 the liquidation, great loss must have resulted to the shareholders. Much has been done by judicious 
 compromises, by patiently waiting until a market could be found for securities, and for the issue of 
 the various Chancery suits, over many of which the official managers had very little control. The 
 liquidation has been a long one, but it contrasts most favourably with others pursued under different 
 circumstances. It is hoped before long the labours of the official managers will be brought to a 
 final close." 
 
[ 335 ] 
 
 IRortbuinberlanb an^ 2)ui'bam 5)i6trict Banking Company. 
 
 IRewcastle-upon-Upne. 
 
 Established 1836. Failed 1857. 
 
 THE Newcastle Chronicle of March 12th, 1836, prints the following announce- 
 ment : — 
 
 "Prospectus of a Joint Stock Banking Co., to be entitled 'The Newcastle, Sunderland, 
 Durham, and North and South Shields District Banking Co,' Capital — £500,000, in 50,000 shares of 
 £10 each. The avidity with which the shares in Banking Companies are now sought after by the 
 public in general after an experience of their results in England of several years, at once shows the 
 high estimation in which they are held, and requires no arguments to point out the great advantages 
 derived from them not only to the shareholders themselves (who have almost in every instance 
 acquired large premiums and heavy dividends), but also to the districts in which they are established. 
 So generally has this been the case that when it is not so, either bad management or the grossest 
 culpability can be traced, and in fact, it is admitted on all hands that the only requisite for the success 
 of a new Joint Stock Banking Company is a proper field for its operations, well conducted, and 
 therefore the projectors of this establishment only ask the Public after looking round them to judge 
 for themselves whether or no the field here selected, offers to them every probability of success." 
 
 Remarks follow regarding the banking accommodation of the town, and the 
 prospectus continues : — 
 
 " The projectors feel they cannot close their observations, without stating their strict determination to 
 use the utmost of their power and influence, to place this establishment in such hands as from their 
 respectability and character, will insure its being carried on upon firm, sure, and constitutional 
 principles, with every possible regard to economy, and with all human caution consistent with the 
 liberal spirit of the times." 
 
 The conditions are then enumerated. They are 18 in all, and much on the 
 lines of other banks. Shareholders keeping an account are to be allowed a cash 
 credit to the extent of two-thirds of their paid-up capital, &c., &c. 
 
 The rush for shares must have been great, for on March 19th it was 
 announced : — 
 
 " Since the 11th instant the Provisional Committee have received applications for upwards of 18,000 
 shares, but in accordance with the prospectus, 'influential applicants in the place or places and 
 neighbourhood of the Bank and Branches, to be preferred to those at a distance,' will still insure to 
 Residents in this district a Preference on application to Mr. Holmes, Share Broker." 
 
 The announcement was repeated in the next week's paper, when the applications 
 for shares amounted to 26,000. The Provisional Committee met on April 6th, 
 and found that 39,800 shares had been applied for. They therefore declared 
 the said bank formed, and stated that " in the meantime the Provisional Committee 
 will receive applications from such parties as can promise influence on behalf of, 
 or to open an account with the Bank." 
 
 Suitable and commodious premises were required "by the ist of May in 
 Mosley or Dean Street for a Banking House," and they advertise that "A manager 
 
[336J 
 
 is wanted for this bank. The highest testimonials as to Character, Talent, and 
 Knowledge of District Banking will be required." 
 
 On May 7th it is announced : — " The first General Meeting of Shareholders 
 for the election of directors and other officers will be held at the Queen's Head, 
 Newcastle, on Thursday, May 12th, at 12 o'clock." 
 
 Negotiations were very soon entered into by the executive of the new bank 
 for the purchase of, or amalgamation with, Messrs. Backhouse & Co., as far as 
 regarded their branch in Newcastle. Messrs. Backhouse had opened there after 
 the commercial strain in 1825, and had gathered a substantial though not very 
 extensive business, their establishment being then situated in Theatre Square, now 
 the south-east corner of Grey Street. (The premises were subsequently rebuilt, 
 and assumed their present form in September, 1843.) The terms of amalgamation 
 must have been soon settled, but the step did not please some would-be share- 
 holders, who therefore launched a scheme for the Newcastle Commercial Joint 
 Stock Bank (see page 316). 
 
 On May 28th it was announced : — 
 
 " At the first General Meeting of Shareholders in the Newcastle, Sunderland, Durham, and North and 
 South Shields District Bank, held May 12th, Andrew White, Esq., Mayor of Sunderland, in the chair, 
 the following gentlemen were appointed directors for one year : — 
 
 The Right Honourable John Simpson, Lord 
 
 Mayor of York. 
 William Beaumont, Esq., Newcastle. 
 Thomas Jamieson, Esq., Newton Villa. 
 
 John Twizel Wawn, Esq., West Boldon. 
 Ralph Park Philipson, Esq., Newcastle. 
 Mr. William Holmes, Newcastle. 
 Mr. Robert Robinson, Newcastle." 
 
 It was further announced that the directors had made arrangements with 
 Messrs. Backhouse & Co. for the incorporation of the business of their Newcastle 
 branch in this establishment, and that the company would commence business on 
 June ist, under the general management of Mr. Jonathan Richardson (subsequently 
 appointed a director), in the premises occupied by Messrs. Backhouse & Co. 
 Notice was given that the first call of £2 los. od. per share would be due June 
 loth, and a second call of the same amount on August loth. Some alterations 
 were made in the conditions of formation, the most important being the change of 
 name for brevity's sake to the " Northumberland and Durham District Bank." 
 
 The rage for the formation of joint stock banks was certainly great at this 
 time, for ere the "District" had fairly started, three other joint stock banks 
 were in the field, the " Commercial," the " Newcastle-upon-Tyne," and the 
 " Sunderland Joint Stock Banking Co.," and before the month of June was out, 
 Messrs. Chapman were turning their private bank into a "joint stock." Shortly 
 after the formation of the District Bank, their business was extended to Sunderland 
 
^ [337] 
 
 and South Shields by incorporating the branches of Messrs. Backhouse & Co. in 
 those towns. They were opened under the new title on July ist, 1836. On the 
 2ist of the same month, a branch was opened at North Shields. Some little time 
 after they had got well into working order, the situation of the bank was changed. 
 Grainger was then building Grey Street, and the proprietors of the District Bank 
 negotiated with him for the premises now numbered 33, Grey Street (the southern 
 half of the present Branch Bank of England). While the " District " was in these 
 offices, a clearing house was instituted [see page 118). The bank counter ran 
 from east to west. The south-east room was occupied by the partners, and the 
 south-west room was used for the "clearing." 
 
 A copy of the report of the Directors at their second General Meeting, held 
 January 23rd, 1838 (after eighteen months of trading), will show the position of 
 the bank at that time. 
 
 " In meeting the proprietors the directors have the gratifying duty to perform of rendering a highly 
 satisfactory Statement of the affairs of the Company. 
 
 Since the establishment of the Bank the Business has been very considerably extended and 
 continues progressively to increase ; the Directors consider this the more important, inasmuch as they 
 have not deemed it for the interest of the Proprietors to establish any new Agencies since their former 
 report. 
 
 The further experience which has been had of the advantages consequent upon the issue of the 
 notes of the Bank of England has confirmed the directors in the opinion that in adopting that system 
 instead of an issue of Local Notes they effectually promoted the best interests of the establishment. 
 
 The amount of paid-up capital on the 30th December, 1837, is £139,787 10s., and the gross 
 profits arising from the usual Business of the Bank for the past half year amount to £10,879 8s. 6d., 
 from which is to be deducted for current expenses £1,9G2 4s., leaving net profit £8,917 4s. 6d., out of 
 which the Directors propose that a half-yearly Dividend at the Rate of 10 per cent, per ann. should be 
 made to the proprietors, which upon present paid-up capital amounts to £6,989 7s. 6d., leaving a balance 
 of £1,927 178. Od. to be carried to the guarantee fund, which (including Interest) will then amount to 
 £8,070 lis. 2d. In addition to the above, the Bank receives the premiums on shares allotted, a further 
 sum of £3,115 10s. 
 
 The Directors in surrendering to the proprietors the highly important trust received at their 
 hands, have to express their high sense of the confidence reposed in them, and their conviction that 
 the Bank is now placed on so satisfactory and firm a basis as to afford the highest expectation of its 
 increasing and permanent Prosperity. (Signed) Ralph Park Phiupson, Chairman." 
 
 In the following year a very important event happened in the life of the 
 District Bank, namely, the amalgamation with the "Old Bank" — Messrs. Ridley, 
 BJggG, & Co. — who had been trading in Newcastle as bankers from 1755. 
 When the negotiations for the amalgamation were completed, Messrs. Ridley, 
 Bigge, & Co. issued a circular which explained the circumstances that led to the 
 
 0^ 
 
[_338J 
 
 junction. The following is copied from the MS. left by one of the then partners : — 
 
 "Newcastle Bank, March 20th, 1839. 
 Sir, — The terms of our partnership with Sir M. W. Ridley expiring on the 31st December, we had, in 
 anticipation of the arrival of that period, completed the requisite arrangements for the continuance of 
 our Banking business, when a proposal was made to us by the directors of the Northumberland and 
 Durham District Bank to form a junction with that establishment. 
 
 Having long observed an increasing preference on the part of the public for the proprietory 
 system of Banking as affording under proper management both the most unquestionable security, and 
 at the same time, a very advantageous investment of Capital for the Proprietors, we were not indisposed 
 to entertain the proposition. 
 
 We have now to announce to you the completion of this arrangement, and that the junction of 
 the banks takes place on the 22nd instant. Our partners Mr. Bigge of Linden, Mr. Boyd, Mr. 0. J. 
 Bigge, Mr. Robert Boyd, and Mr. Spedding, become large proprietors in the bank, in which also the 
 three last-named gentlemen will be directors. The Company thus extended, will offer an amount of 
 security, available capital, and power of conducting banking operations which we cannot doubt will be 
 duly appreciated by friends and the public at large. We trust that the confidence which you have 
 hitherto placed in the Old Bank will be continued to the united establishment, and that you will 
 permit your account to be transferred to our new books. Its note circulation will be exclusively that 
 of the Bank of England, under arrangement with the Governor and Company of that corporation. 
 
 For the convenience of our friends, the business will for some time be carried on both in our 
 present premises and at the banking house in Grey Street. We shall be happy personally to give you 
 any further information, and are. Your faithful and obliged servants, 
 
 RIDLEY, BIGGE, & CO." 
 
 The amalgamation thus formed, made the "District" undoubtedly the strongest 
 bank in the North of England. Besides the Newcastle business, they had branches 
 at Alnwick, Durham, North Shields, South Shields, and Sunderland. That the 
 two establishments in Newcastle might be brought under one roof, larger 
 premises were required. In November, 1838, Mr. Richard Grainger, who was 
 building the higher part of Grey Street, proposed to the Corporation of 
 Newcastle that he should erect new Assize Courts and Corporate offices 
 upon a very eligible site that he had at disposal for the sum of ;^20,ooo, 
 but before the negotiations were settled, Mr. Grainger withdrew his offer, 
 and treated with the Directors of the District Bank for the magnificent 
 buildings now occupied by Messrs. Lambton & Co. To these premises the 
 "District" subsequently removed their staff from s^, Grey Street, and 
 from Messrs. Ridley's old premises at the corner of Mosley Street and Pilgrim 
 Street. The business and apparent prosperity of the bank were great, and from 
 time to time the directors favoured the shareholders with dividends ranging from 
 10 to 12 per cent. A guarantee fund was formed, which gradually rose, and was 
 quoted in 1847 as ;^90,ooo. 
 
[339] 
 
 A wave of misfortune passed over the Newcastle banks in 1847. The North 
 of England Joint Stock Banking Co. and the Union Bank both stopped payment. 
 The District Bank was hard pressed, but timely and judicious assistance granted 
 by Mr. Grote, the local Agent of the Bank of England, enabled them to weather 
 the storm. The directors perceived that the calamity that had befallen the other 
 banks was their opportunity for greater business had they the necessary capital to 
 meet the requirements. Mr. Charles Wm. Bigge, the chaimian, addressed a 
 circular to the shareholders calling a meeting for Monday the 15th September 
 (1847), intimating that the Directors would then bring forward the following 
 proposition : — 
 
 " That the capital of the bank be doubled by the creation of 60,000 additional shares of £10 each, and 
 that the same be offered to the proprietors at par, in the proportion of one new share for each old 
 share, and in case any part of the shares so offered shall not be accepted on or before the 15th day of 
 January next, such shares may be disposed of by the directors at their discretion ; that the sum of £5 
 per share be paid when the shares shall respectively be taken, and that the holders thereof shall be 
 entitled to dividends from that time." 
 
 " With the additions of the new shares the capital of the bank will be £1,200,000, of which 
 £600,000 will have been paid up. . . . The extensive and increasing business of the bank has for 
 some time past impressed the directors with the conviction that a commensurate increase of the 
 capital should be made, and this conviction has been strengthened by the recent events which have 
 so greatly diminished the number of similar establishments in this district ; the directors consider the 
 present juncture offers a favourable opportunity for employing an increased capital with advantage to 
 the proprietors and benefit to the trading community of the counties of Northumberland and Durham. 
 . . . Under the circimistances the directors confidently recommend the proposed measure to the 
 proprietors, satisfied as they are, that it will tend in an eminent degree to promote the true and 
 permanent interests of this large establishment, and enable it at the same time more effectually to 
 support the extensive and legitimate commercial transactions of the important locality which is the 
 seat of its operations." 
 
 The resolutions were eventually adopted by the shareholders. A circular 
 dated September, 1848, gives notice of a call of £s per share in four equal 
 instalments — on the 9th of November, December, January, and February next. For 
 this step the directors give the reason that a great accession of business must 
 naturally require more capital. 
 
 Another clause of the circular states : — 
 
 *' The propriety of an alteration in the law so as to facilitate the formation of Chartered Banks with 
 limited liability has been much under discussion during the current year, and it is not improbable that 
 this change may bo made in the next session of Parliament. It would be most important that the 
 Bank should be able to avail itself of any opportunity that may be presented for obtaining a charter, 
 and this, it is obvious, can only be done by an increase of the paid-up capital." 
 
 In 1848 an account was opened to meet "bad and doubtful debts," and after 
 this time a certain portion of the profits was annually placed to this 
 account. Want of space prevents my recording the annual growth of the business 
 
[340] 
 
 of the bank, but a copy of their balance sheet issued December 31st, 1856 — the 
 twentieth year after their foundation — will show to what extent the transactions had 
 been carried. The business of the town must have increased enormously during 
 the period from 1836 to 1856, and the "District" had certainly obtained a good 
 share of custom. Had more prudence guided the actions of those in 
 responsible positions, a very different future might have been its lot. 
 
 Liabilities. Assets. 
 
 Proprietors' Capital . . 
 Deposit and Credit Balance . . 
 Guarantee Fund 
 Balance being Gross Profit . . 
 
 £ 
 655,491 
 3,379,816 
 90,874 
 
 s. d. 
 
 5 
 
 8 4 
 
 3 6 
 
 5,574 12 11 
 
 £4,214,756 9 9 
 
 Cash, Bills, Notes, Debit 
 
 Balances, and other Securities 4,152,085 5 
 Dividend of £3 10s. per cent, for 
 
 half year to 30th June, 1856 23,191 11 9 
 Bank premises in Newcastle and 
 
 branches .. £20,431 10 8 
 
 Rebuilding the premises of the 
 
 South Shields branch £734 
 
 21,165 10 8 
 
 Expenses of Establishment — 
 Salaries .. £11,646 5 
 OtherCharges,&c. 6,668 1 11 
 
 38,314 6 11 
 
 £4,214,756 9 9 
 
 PROFIT AND LOSS ACCOUNT. 
 
 Dr. £ s. 
 
 Dividend paid of £3 10s. per cent, for 
 half year to 30th June, 1856, less 
 interest retained on unpaid calls 23,191 11 
 
 Dividend of £3 10s. per cent, for 
 half year to 31st December, 
 1856, less interest retained on 
 unpaid calls 23,227 9 
 
 Balance 23,841 4 
 
 £70,260 6 
 
 Cr. 
 
 Gross Profit . . 
 
 Deduct expenses as above 
 
 £ s. d. 
 88,574 12 11 
 18,314 6 11 
 
 Net Profits 
 
 £70,260 6 
 
 At this time their customers were requiring upwards of ;^3 5,000 in cash each 
 week for the colliery and other pays. The shares were held by 402 proprietors. 
 
 The next annual meeting was held on February 24th, 1857. The balance 
 sheet and report were adopted — a dividend declared of £7 per cent., and 
 ;^23,84i 4s. 8d. carried to the contingent fund. One clause in the report states : — 
 
 •' The business of the bank during the preceding year has fully answered the expectations of the 
 directors and affords a very satisfactory result." 
 
[34^j 
 
 Such was the state of things in February ; — before the close of the year the 
 bank had failed and spread disaster and ruin on every side. It was known that 
 they were very large creditors of a firm of Newcastle merchants who had failed 
 the previous August for £^20,000, and that an undue amount of their capital was 
 locked up in iron-works and collieries. Distrust gradually crept in, and although 
 there was no great rush or panic such as foreshadows the stoppage of many banks, 
 still, depositors were urgent throughout the summer to withdraw their money, and 
 by the middle of November many would only accept gold. A story was related 
 to me by a gentleman who witnessed the incident. One man drew some seven 
 or eight hundred pounds in sovereigns ; he had no bag, and of course the bank 
 would not give one, so he took the money in his hat. When on the door step, the 
 crown came out, and he had the greatest difficulty to save his treasure. The bank 
 had been re-discounting their customers' bills at the local branch of the Bank of 
 England for very large amounts, and by the middle of November matters had 
 become so complicated that the local authorities desired the personal presence 
 of a director from the head office. So long as the Bank of England would 
 continue to discount, it was hoped matters might be tided over, but if that 
 establishment once declined — then all was lost. As usual in such cases, 
 the first real alarm that the public experienced was caused by reports from 
 London. On Saturday evening, November 22nd, a telegraphic announcement was 
 made from London to the effect that a North of England Joint Stock Bank had 
 been mentioned in the afternoon on the Stock Exchange as in embarrassed 
 circumstances, but it was added, that the agency house in London disclaimed all 
 knowledge of such being the fact. 
 
 Notwithstanding this rumour, the bank kept open on Monday and Tuesday. 
 On the latter day, the London Express says : — " The London agents of this bank 
 (The Northumberland and Durham District Bank) refuse to honour their drafts." 
 It is difficult to say what really was " the last straw," but after bank hours on 
 Tuesday, it was pretty generally believed that the bank would not open again. 
 On Wednesday morning the following announcement was posted on the doors — a 
 large crowd of eager people struggling to read it : — 
 
 *' The Directors of the Northumberland and Durham District Bank lament to announce that owing to 
 a long continued monetary pressure, and the difficulty of rendering available the resources of the Bank 
 they have felt themselves obliged to suspend its operations. Deposits and Credit Balances will be 
 fully paid with as little delay as possible. A meeting of the shareholders will be convened for an 
 early day." 
 
 A notice to the same effect was posted at all the Branches. Before me is the 
 identical notice (which is here reproduced) that gave the unwelcome news to 
 
[342] ^ 
 
 South Shields, in the handwriting of W. B. Ogden, Acting Director, who was killed 
 in the railway accident at Brockley Whins in 1871. 
 
 ^ jf^u/la /uiLdO ^a^//i Ox/ ^i^^ ^e(^c^</ 
 
 A meeting of shareholders was held the next day and the following circular 
 issued : — 
 
 •' At a meeting of several of the shareholders of the Northumberland and Durham District Bank held 
 in their Banking House this 27th day of November, 1857, George Ridley, Esq., M.P., in the chair. 
 ' Resolved that a call of £5 per share be now made and be payable on the 14th day of December next, 
 at the banking-house in Grey Street, Newcastle.' " 
 
 A copy of this was forwarded to the shareholders, accompanied by a letter 
 which stated : — 
 
 *' I have to transmit to you the copy of a resolution passed at a meeting of a considerable number of 
 
 shareholders held here this day, and have to impress upon you the absolute necessity of the payment 
 
 of this call being promptly made, and that if it be possible, the day of payment should be anticipated. 
 
 This is imperatively necessary for the protection of the shareholders, and if this intimation be not 
 
 complied with, it may subject them to the most serious consequences. I am enabled to assure you 
 
 that a large number of the shareholders have already expressed their entire approval of this measure. 
 
 It is hoped that it may also receive your sanction and that you will convey to me your decision 
 
 without delay. 
 
 (Signed) W. B. OGDEN, Acting Director." 
 
 At the same time an advertisement stated : — " The parties who have Accounts 
 with the above Establishment and the public in general are respectfully informed 
 that arrangements are in progress for the future transaction of the business 
 heretofore conducted by the Bank." For a few days things hung fire. Messrs. 
 
[343] 
 
 Hawks and Allhusen journeyed to London to interview some of the London 
 bankers. Rumours were afloat of a new Private Bank being formed. The 
 newspapers abounded in articles and letters of all shades of opinion. The share- 
 holders were summoned for Tuesday, December 15th ; notice was also given that 
 one object of the meeting " is for the purpose of assenting to the registration of 
 this company under the Joint Stock Companies' Act, 1857." Prior to the time of 
 the meeting, the formation of the private bank of Hawks, Grey, Priestman, & Co., 
 was announced. The old premises were utilised, customers for the new bank were 
 welcomed by the main door, while persons having business with the old bank 
 were referred to the " door round the comer." This bank was opened on Saturday, 
 December 12th. 
 
 The meeting of shareholders in the old bank as announced was held on the 
 following Tuesday ; so great was the gathering that an adjournment had to be 
 made to the long room of the Royal Exchange Hotel. At first none but 
 shareholders were admitted, their names being checked against the registered list. 
 A small army of reporters were denied entrance, but subsequently they were 
 allowed to attend. 
 
 " A report was read by Mr. Ogden, which stated in general terms that things 
 were not so bad as had been contemplated. That Mr. Jonathan Richardson had 
 guaranteed payment of the Consett Works, that Mr. Bigge and Mr. Richardson had 
 withdrawn from the directorate, Jonathan Priestman and J. Richardson being 
 appointed in their stead. A Committee of five shareholders, with power to add to 
 their number, was appointed to confer with and assist the directors, and to 
 report within three months. Messrs. Mackreth, Milner, Joicey, Graham, and 
 J. Priestman, jun., to be the Committee." 
 
 The new bank was referred to by Mr. Allhusen. It was generally 
 understood that the gentlemen who formed the undertaking had only done 
 so to try to retain and accommodate the bank's clients, and that they 
 would be quite willing to turn it over to a joint stock company if one could 
 be formed. Other meetings were held, and John Fogg Elliott, William 
 Bainbridge, and Joseph Fairs, were appointed liquidators. They submitted 
 the affairs of the bank to Mr. J. E. Coleman of the firm of Coleman, Turquand, 
 Youngs, & Co. of London. 
 
 On April 13th, Mr. Coleman submitted his report to the liquidators, which, 
 considering the short time he had to prepare it (eight days), is a most exhaustive 
 document. As well as a general account, it gives a tabulated statement of the 
 depositors and creditors at each of the branches, namely, Sunderland, Alnwick, 
 
[344] 
 
 Berwick, Durham, North and South Shields — these again being classified under 
 different amounts. 
 
 £ s. d. 
 
 Mr. Coleman estimated the total liabilities that would rank against the bank 2,255,200 
 The Assets of the Bank, excluding the value of the Derwent Iron Works, are 
 
 estimated to yield 1,064,082 
 
 1,191,118 
 The amount of capital paid by shareholders, inclusive of that portion of a call 
 of £5 made by the Directors after the suspension and prior to 
 liquidation, amounts to . . . . . . . . . . . . . . 644,032 
 
 Thus making the total loss made by the Bank, subject to reduction by such 
 
 amount as may hereafter be realised from the Derwent Iron Works . . 1,835,150 
 
 Shortly afterwards, Mr. Pugh, chief clerk to the Vice-Chancellor, held a court 
 in the bank premises. Grey Street, for the purpose of settling the list of contributories 
 to the calls that would be made. The list of the shareholders was gone through 
 seriatim : many a legal fight occurred between Mr. Pugh and the representatives 
 of the unfortunate shareholders. The court resumed its sitting on the following 
 day, when it was stated by the liquidators that they deemed it necessary to make 
 a call of ;^35 per share : many of the shareholders held over one hundred shares, 
 several upwards of a thousand, and the executors of one gentleman were down for 
 3,375 shares. The amount that would, therefore, be due from various shareholders 
 was positively appalling, and meant ruin and desolation to hundreds of families. Such 
 was the failure of the last of the joint stock banks that had been established in New- 
 castle. The ruin occasioned was worse than that caused by the failure of all the other 
 banks put together. The first joint stock bank started in the north of England 
 was the Darlington District Bank in December, 1831. In their prospectus they 
 state, "the idea of shareholders incurring any loss from personal liability in a Joint 
 Stock Banking Company is altogether imaginary," and that " a bank can only be 
 ruined by degrees — many years being required for the worst managed bank 
 to lose a large capital." 
 
 Such was the general anticipation when the Joint Stock Act first came into 
 force, but how different was the reahsation ! The "Darlington District" was 
 the only Northern Joint Stock Bank then standing, and its life had been beset 
 with many difficulties. 
 
 To attempt to give an account of the liquidation of the District Bank would 
 require a separate volume, and my space is already occupied. The anticipated 
 cost of the winding up soon began to occupy the attention of the shareholders. 
 A requisition was drawn out to Vice-Chancellor Sir Richard Torin Kindersley 
 to fix the remuneration to be paid to the liquidators. The gentlemen " do 
 
[345] 
 
 not claim," but suggest that they should each receive a salary of ;^ 1,500 
 a year for the first three years, which would amount to ;^i 3,500. Mr. Coleman 
 claims 2 per cent, on the assets collected, which on the estimated sum of ^2,250,000 
 would amount to ;^45,ooo — ^jointly ^58,500, exclusive of ofiice expenses, clerks' 
 salaries, law expenses, &c. 
 
 The requisitionists point out that such remuneration far exceeds any allowance 
 that has been made in similar cases, and suggest that payment should be made in 
 accordance with the time occupied. 
 
 Undoubtedly the liquidation was a most arduous and responsible task, apd 
 considering the complicated circumstances of the case, was carried out most ably. 
 The dividends paid were the following: — October 8th, 1858 — 5s. ; July 9th, 1859 
 — 5s.; January 12th, 1862 — 2S. 6d. ; March loth, 1863 — ^2S. ; September 7th, 
 1864 — 4s. ; January loth, 1865 — is. ; producing ultimately 19s. 6d. in the pound. 
 
 Ipeaee & Co. Mbttbi? an& /IDalton. 
 
 Founded prior to 1790. Partners. Not recorded after 1823. 
 
 Information incomplete. 
 
 THE branches of the family of Pease were so numerous, and appear to have 
 been connected with so many early banking firms in Yorkshire, that 
 without obtaining the Christian names of the partners, it is impossible to 
 identify them. 
 
 At one period some member of the family was a partner in Richardson & Co. 
 of Whitby and Malton. Messrs. Campion's books show that they were doing 
 banking business with Pease and Co. from 1790 to 1802, and with Pease and 
 Richardson, 1792 to 1797, and in 18 14. Also with Pease, Dunn, & Co., bankers, 
 Malton, 18 18 to 1820. They likewise had transactions with Pease and Harrison 
 of Hull and Biverley, in 1782. 
 
 The list of bankers for 1805 gives : — Malton and Whitby— Pease & Co., 
 London Agents — Harrison & Co. Whitby — Pease & Co., same London Agents. 
 
 In a list for 18 16 (very imperfect) they are not quoted either at Whitby or 
 Malton. 
 
 In 1823 they are not quoted at Whitby; at Malton they are announced 
 Pease, Dunn, & Co., London Agents — Lubbock & Co. This is the last record I 
 have of the firm at Whitby or Malton. 
 
[346] 
 
 The Peases were an old Whitby family ; John Pease, Mercer, was Church- 
 warden in 1727 ; he had a large family, many of whom were buried at Whitby. 
 In St. Mary's Church-yard a ledger tomb-stone records the burial of seven sons 
 and five daughters of John and Elizabeth Pease. 
 
 3. d 3, M. peaae. DarUnaton. 
 
 Founded about 1820. Partners 
 
 Joseph Pease. Edward Pease. Alfred E. Pease, 
 
 Joseph Whitwell Pease. Giirney Pease. Joseph Albert Pease. 
 
 Arthur Pease. Charles Pease. 
 
 THE family of Pease settled in Darlington early in the last century, where 
 the different members were engaged in the worsted trade, " buying wool 
 through the northern counties, manufacturing it into yarn, and selling it 
 to the manufacturers in Scotland and the West Riding." For many years the 
 business was carried on under the firms of Edward and Joseph Pease, John and 
 John Beaumont Pease, Henry Pease & Co., and subsequently, Henry Pease & Co.'s 
 Successors. 
 
 Before banks were properly constituted, it was the custom of many large 
 mill-owners to keep a running account with, or receive money on deposit from the 
 trader, upon which a small interest was allowed. In this way many 
 substantial accounts were gathered at the mill office, which were more or less of 
 the character of banking, and were afterwards transferred to the banking 
 establishment. 
 
 The formation of the first Stockton and Darlington Railway gave a great 
 impetus to all trades in the vicinity of Darlington, and offered many opportunities 
 for capitalists to extend their business operations. In 18 18, an important 
 battle was fought at Darlington — " Canal v. Railway " — fortunately the latter 
 triumphed. At a meeting held November 13th of the year named, a committee 
 was formed to carry out the railway scheme, Jonathan Backhouse, who was a 
 banker, being appointed treasurer. Subsequently the Pease family made large 
 advances to the New Railway Companies, and Joseph Pease became treasurer 
 to the Great North of England Railway (Darlington to York). 
 
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[347] 
 
 At the resuscitation of the Derwent and Consett Iron Co. after the 
 Northumberland and Durham District Bank failed in 1857, Joseph Pease 
 became banker to the revived Company, — now the well-known Consett Iron Co. 
 — he having also at the time several Iron Accounts in the neighbourhood of 
 Middlesbrough, in addition to all the banking connected with the numerous 
 Collieries, Ironstone Mines, &c., &c., carried on by the various members of the 
 Pease family. 
 
 Until 1870, Joseph Pease was the sole proprietor of the bank ; in 
 that year his son Joseph Whitwell (now Sir Joseph W. Pease, Bart.) joined the 
 firm. Two years afterwards, the head of the finn died, when the surviving 
 partner was joined by his four brothers, Arthur, Edward, Gumey, and 
 Charles Pease. Upon the death of the three last-named gentlemen, two sons of 
 Sir Joseph were admitted to the firm, namely, Alfred E. Pease, and Joseph Albert 
 Pease ; these gentlemen, with their father and uncle, constituting the present 
 partnership. Although the clients of Messrs. Pease are not of the general public, 
 a very extensive business is done. The firm have no branches ; they are first 
 recorded in the Bankers Almanac for 1893 ; they never had a note issue. 
 
 In my record of Messrs. Skinner, Atty, and Holt, willlDe found an account of 
 how Edward Pease stayed a run upon that bank. 
 
 The relationship of the members of the family who have been connected with 
 the bank is shown on the next page. 
 
 The Pease family are members of the Society of Friends, and they have ever 
 been foremost in every good work of local or national importance. 
 
 Mr. Joseph Pease was returned to Parliament for South Durham in 1832. 
 The presence of the first Quaker Member in the House of Commons is noticed in 
 the Ingoldsby Legend, " Mr. Barney Maguire's Account of the Coronation," as 
 follows : — 
 
 " Then the noble Prussians, likewise the Russians, 
 
 In fine laced jackets with their goulden cuffs ; 
 And the Bavarians, and the proud Hungarians, 
 
 And Everythingarians all in furs and muffs. 
 Then Misthur Spaker, with Misthur Pays the Quaker, 
 
 All in the Gallery you might persave ; 
 But Lord Brougham was missing, and gone a-fishing 
 
 Ounly crass Lord Essex would not give him lave." 
 
 Before quitting the Pease family I give a slight account of a relative of theirs, 
 who through their introduction attained to eminence in the financial world. 
 
 Thomas Richardson was born at Darlington, 1771. His father originally came 
 from Hull, his mother from Great Ayton, her maiden name also being Richardson. It 
 
[348] 
 
 
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[3491 
 
 is stated that early in life the subject of this sketch was apprenticed to a " Friend," 
 a grocer in Sunderland. " The work was hard but the discipline good." At the close 
 
 of his apprenticeship he returned to Darling- 
 ton, when his relative, Edward Pease, sent 
 him to London, paid his passage, gave him 
 a guinea, and a letter of introduction to 
 Messrs. Smith, Wright, and Gray, bankers, 
 Lombard Street, the partners being all 
 " Friends." Richardson was engaged as 
 errand boy at first, but soon rose to a better 
 position, namely, a clerkship of £^o a year. 
 In 1799, he had attained an income of ;^8o 
 and in the same year married Martha Beeby, 
 whose friends lived at Allonby, Cumberland. 
 
 Messrs. Smith, Wright, & Co. united 
 with Esdaile & Co., and w^ere for many 
 years known by the latter name. Early in 
 the century Richardson decided to leave the 
 firm, and with a young Quaker friend, John 
 Overend, who was then a clerk with Joseph 
 Smith & Co., bankers, London, commenced 
 business on his own account. They started 
 bill-broking,* then an entirely new idea. 
 They began operations in a small room in 
 Finch Lane, but soon moved to more 
 extensive prem.ises in Lombard Street. Their 
 business proved an immense success. 
 
 They were joined by Samuel Gurney, 
 whose relative, John Gurney of Norwich, 
 had watched and assisted the founders of 
 The history of the noted house of Overend, Gurney, & Co., is too well 
 known to need further remark. 
 
 Mr. Richardson retired from the firm in the hey-day of its prosperity. He 
 subsequently went to reside at Stamford Hill, Great Ayton, where he devoted his 
 time and a large part of his great wealth to philanthropic works. In the Friends' 
 School there he took a deep interest. 
 
 * Mr. Richardson in his evidence before the Bullion Committee ("Lombard Street" p. 286) fully explains the 
 nature of the business of a " bill broker " that he had introduced. 
 
 "A Friend in Lombard Stkeet." 
 
 Thomas Eichardson. 
 
 From " City Characters drawn and etched by 
 
 Richard Dightou (1834)." 
 
 the firm. 
 
[ 35oJ 
 
 pciVBC, Consctt, ^opbam, S, Malton. iwortbaiierton. 
 
 Founded 1793. NORTH RIDING BANK. Extinct prior to 
 
 Partners. 1804. 
 
 Richard William Peirse. Edward Topham. 
 
 Warcop Consett. Thomas Walton. 
 
 THE first firm of whom I have any record as bankers at Northallerton were 
 Messrs. Peirse, Consett, Topham, and Walton, but as they are announced 
 as a New Bank, possibly there may have been a banking firm in that 
 town anterior to their existence. They publish their intention of opening in the 
 Newcastle Chronicle for January 19th, 1793 : — 
 
 " PUBLIC NOTICE. 
 " NoBTH Riding Bank, Noethallerton, Yorkshire. — This is to inform the public that early in the 
 Month of February next (1793) will be opened at Northallerton a New Bank under the above title. 
 The Firm to be Messrs. Peirse, Consett, Topham, and Walton. The Respectability and known 
 Property of the above Firm, it is humbly presumed, will be a most suflBcient Recommendation and 
 Security for the property vested with them. The London business of the firm will be conducted by 
 Messrs. Boldero, Adey, Lushington, and Boldero. 
 
 A Clerk is wanted to the above Bank who has been used to the business, and who must give the 
 most ample and satisfactory security for his conduct and the trust reposed in him. — January 10th, 
 1793." A subsequent advertisement has : — " N.B. — Clerks are already engaged in the above Bank." 
 
 It was a difficult time for a new bank to start, though the opening probably 
 arose from the stoppage of some other house in the district. The newspaper 
 above quoted, remarks on the 30th March : — 
 
 "The alarm created in Yorkshire by the late failures or stoppages of some banks, has had a most 
 injurious effect, by creating a general distrust in the minds of tradesmen, farmers, and others, almost 
 amounting to a suspension of all pecuniary transactions. We have, however, reason to believe that 
 the different concerns are possessed of ample property to satisfy every demand that can be made upon 
 them, as soon as the run now making can be provided for by the liquidation of the securities they 
 have obtained for the investment of their property." 
 
 Just at this time Messrs. Robert and Thomas Harrison, bankers, had stopped 
 payment, and as they were the London Agents for several of the North Riding 
 banks, matters became still more complicated, and this probably accounts 
 for the New Bank at Northallerton issuing the following announcement in the 
 Newcastle Chronicle for March 30th, 1793 : — 
 
 " The North Riding Bank, Northallerton, opened on Thursday, February 7th (1793), to the public. 
 Where great property is confided, perhaps it is but right that those who trust should know the grounds 
 on which they are to rely. In order, therefore, that the public may be perfectly secured in all 
 Transactions at this Bank, We, the undersigned Firm, have inserted a clause in our articles of 
 agreement, expressly charging our joint and separate personal and landed Estates with the payment 
 of all Demands on the Bank during our joint lives, and further after our respective deaths.^Richard 
 William Peirse, Warcop Consett, Edward Topham, Thomas Walton, Deputy Register, North Riding." 
 
[351] 
 
 There evidently was a popular opinion abroad about this time that the landed 
 estates of bankers were not liable for their trade debts, and to satisfy the mind 
 of the public upon the matter, a case was submitted to Mr. Osborne, the learned 
 Recorder of Hull and Beverley ; the questions asked and the Recorder's answers 
 being advertised in the Yorkshire Herald of March 23rd, 1793. 
 
 " Mr. Osborne is desired to give his opinion upon the following question, * Are the landed Estates of 
 Bankers liable to payment of their notes and their other debts on simple contract?' Answer. 
 ' Bankers as well as other traders, are subject to the Bankruptcy Laws, and if on failure of payment 
 of their debts a commission of Bankruptcy be taken out against them, the Landed Estates of all the 
 partners (subject to any settlement or mortgage that may have been previously made thereon) as well 
 as the whole of their personal property, are, after payment of their private debts, liable to the payment 
 of their notes and other debts contracted in the course of their trade.' — Hull, March, 1793. R. Osborne." 
 
 The liability though applying to all bankers, w^as exceptionally important m 
 this instance, as all the partners were owners of landed property. 
 
 Doubtless a bank of such stability would have a considerable note issue, 
 though I have not been able to trace any. Before me is one of their drafts 
 upon their London Agents, Messrs. Willis, Wood, Percival, & Co. The vignette 
 (by Beilby and Bewick, Newcastle) is a view of the Register Office, evidently 
 chosen because Thomas Walton was Deputy Registrar. 
 
 The panic of 1797 caused by the great want of specie was evidently felt in 
 Northallerton, and brought out the following announcement : — 
 
 "NORTH RIDING BANK, NORTHALLERTON. 
 
 Whereas it appears that the present demands for Specie arise from ill-founded or exaggerated alarms, 
 and not from insufficiency of Credit or want of Stability in the Firm of the said Bank ; therefore the 
 Gentlemen undernamed, to prevent Public Inconveniences or Obstructions of Business, and also to 
 manifest their confidence in the said Firm have agreed to receive in payment their Notes as Usual, 
 and do recommend it to all others to do the same. . . . N.B. — The original Resolution is left at 
 the BANK for signatures. March 2, 1797." 
 
 The list published has the names classified : — Baronets (of whom three sign)— 
 Sir Robt. D'Arcy Hildyard, Sedbury ; Sir Thomas Frankland, Thirkleby ; Sir Alex. 
 Ramsay Irvine, East Harlsey ; Esquires — twelve signatures, Anthony Hammond 
 of Hutton-Bonville being one, who subsequently became a banker at Northallerton; 
 Clerks — Rev. William Peacock heading the list ; and next, the tradesmen of 
 Northallerton, Newbuildings, Thirsk, Sowerby, and Topcliffe. What became of 
 the bank after this I am unable to determine. Doubtless their notes and other 
 liabihties were all honourably met ; but in 1 804, only seven years after the incident 
 named, I find Messrs. Hammond, Hirst, and Close, styling themselves " North 
 Riding Bank," and having on a five guinea note the same vignette view of the 
 Register Office. It would appear that they had at some time between 1797 and 1 804 
 
[352] 
 
 taken over the business of the old firm, or commenced a fresh undertaking under 
 the same name. For an account of their bank see page 280, 
 
 The Register Office is still in existence, and has an interesting history. 
 
 An Act of Pariiament (8 Geo. II., cap. 6), was passed for the public registration 
 of all deeds, &c., made within the North Riding of York after September 26th, 
 1736. It was decided that Northallerton was the central market town, and on 
 July 17th, 1735, the office was established there. An advertisement in a Newcastle 
 paper of 1726 shows that at Thirsk, North Riding deeds had previously been 
 registered : — 
 
 "The Office for Registration of deeds or conveyances for the North Riding of York will be kept at 
 Mrs. Lowrey's in Thirsk, where attendance will be given every Monday from 10 to 4 ; by Mr. John 
 Close, of Oulston, near Easingwold." 
 
 In 1782, the office represented was erected, and additions made to the old 
 one to form it into a residence for the Registrar. Various gentlemen held the 
 position until 1774, when George Crowe, Esq., was made Registrar, and Thomas 
 Walton, Esq., banker, Deputy. In 1783 Mr. Crowe died, and the post became 
 vacant. February 12th, 1784, was fixed for the election, Matthew Butterwick, 
 of Thirsk, Esq., Richard William Peirse, Esq., banker, and Henry Pulleine, 
 Esq., being candidates. Mr. Butterwick gained the appointment. 
 
 " In 1828 the office was again vacant, when Richard William Christopher Peirse, of Thimbleby Lodge, 
 John Sanders Walton (both sons of the old bankers), and Henry Hewgill, of Hornby Grange, applied 
 for the office. May 26th was the day fixed for the election. Mr. Hewgill retired, but the other two 
 candidates strained every nerve for victory ; the contest was almost as exciting, and the expense almost as 
 great as a Parliamentary election in the olden days. Four magistrates were appointed scrutators ; the 
 Venerable Archdeacon Headlam, President ; Lupton Topham, Secretary ; and William Wait, poll clerk 
 to the scrutators. Counsel for Mr. Peirse —P. Maude and C. H. Elsley ; for Mr. Walton — James Losh 
 and G. Fielding. Managers — R. Smithson, of York, and Robert B, Walton, of Northallerton. Poll 
 clerks — W. D. Walker, Esq., of Leeds, and Robert Davidson, of Northallerton. Check clerks — 
 Messrs. Smithson and Fairbank. The poll lasted for four days. Nearly every solicitor in the Riding 
 was retained for either one side or the other ; all wore the aspect of bustle and excitement, and 
 Northallerton became literally crowded with chaises, gigs, and other vehicles, freeholders having been 
 brought from the extremities of the Riding, and several from distant parts of the kingdom. The end 
 of the second day Mr. Peirse was only 17 votes ahead, and at the close of the poll he led by 26 votes." 
 
 On July 1 2th, 1833, Mr. Richard William Peirse was appointed one of the 
 deputies. Mr. R. W. C. Peirse died December 24th, 1844, when his son Richard 
 William Peirse succeeded him without opposition. In 1780 he married Eliza, 
 eldest daughter of Christopher Fawcett, Esq., Recorder of Newcastle. She died 
 at Thimbleby, August 2'], 1791, aged 33. I am informed the appointment is worth 
 about ;^i,200 per annum. There are only four such offices in the kingdom. 
 
 Henry Peirse, M.P. for Northallerton 1713, was the eldest son of John Peirse 
 of Bedale. He was born 1692, and married Anne Johnson. He inherited his 
 
[353] 
 
 Northallerton estates from his grandfather, and the Bedale estates from his great- 
 uncle, John Peirse. He died 1759. 
 
 Henry, son of the above, was M.P. for Northallerton 1775. He was born 
 1754, and married in 1777, Charlotte Grace, second daughter of John, second Lord 
 Monson. In 1825 he purchased the Manor of Hutton Bonville from Anthony- 
 Hammond of Richmond (who had purchased it in 1785 from Richard William 
 Peirse, banker, of Thimbleby). 
 
 The Consetts were a North Riding family now represented by William 
 Warcop Peter Consett, Esq., of Crosby Court and Brawith Hall, Yorkshire. 
 
 1Rec^, JBatson, Si Co. •Wcwcastie-upou-xisne. 
 
 (see Batson, Wakefield, & Scott.) 
 
 1Ricbarb0on 8i 1bolt. 
 
 (see Clark, Richardson, & Hodgson.) 
 
 IRicbarbson R flDowbra^. 
 
 Founded prior to 1778. 
 
 Partners. 
 
 TOUbitb)?. 
 
 Darltnoton. 
 
 Failed in 1815. 
 
 William Shields. 
 Wtlliam Boulton. 
 John Wetherell. 
 Christopher Mason. 
 William Richard Stokes. 
 
 Richard Richardson. 
 
 Richard Richardson, jiin. 
 
 John Mowbray. 
 
 John Wetherell. 
 
 Arthur Mowbray. 
 
 Geo. Lewis Hollingsworth. 
 
 THE exact date of the foundation of the bank has not been ascertained. 
 Darlington appears to have been its birthplace. The earliest record is 
 obtained from an advertisement in the Newcastle Chronicle, which 
 announces the loss of a letter whilst passing through the post ; it contained two 
 drafts, one of which is here cited: — "Darlington, February 4th, 1778. Thirty 
 days after date pay Mr. Robert Forster or order twelve pounds. (Signed), May 
 Mowbray." It is addressed to " Messrs. Thos. and Richard Richardson, 54, London 
 Wall." Bailey s British Directory for 1 781, has: — Richard Richardson, Son, and 
 John Mowbray, bankers. In 1784 they are announced as Richard Richardson, sen.. 
 Sons, and John Mowbray, bankers, Derby, but it is undoubtedly a mistake and 
 should be Darlington. A directory for 1790, in the list of traders in Darlington, 
 
[354] 
 
 has : — Richardson & Mowbray, bankers and surveyors, their London agents being 
 Messrs. Dorriens, Mello, Martin, & Harrison. As surveyors and estate agents, 
 several of their advertisements may be found in the Yorkshire papers of that date. 
 Upon June loth, 1794, the following notice appeared in a local paper : — 
 
 " Mr. Mowbray Respectfully returns his sincere thanks to his Friends and the Public in general for the 
 many Favours he has received, and begs to inform the Holders of Notes issued by the late Mr. Richard 
 Richardson and himself, that on the 12th August next, all such Notes then outstanding, vrith Interest 
 to that day will be paid at his office in Darlington." 
 
 From this announcement it seems highly probable that Messrs. Richardson and 
 Mowbray were compelled, in the panic of 1793, from general want of specie, to 
 suspend cash payments, and that in 1794 the surviving partner re-opened his doors 
 to pay the notes with interest. Some time prior to 1802, the firm became Messrs. 
 Wetherell, Mowbray, & Co., with business premises at Darlington and Durham, 
 for when in May of that year Messrs. Mills, Hopper, and Chipchase, of Durham, 
 dissolved partnership, their outstanding notes were taken up by Messrs. Wetherell, 
 Mowbray, & Co. The Gentleman' s Magazine informs us that on " October 8th, 
 1805, died (aged 71) much lamented, John Wetherell, Esq., of Field House, near 
 Darlington, one of the partners in the Durham and Darlington Banks." By 
 January, 1806, the firm had grown to the full limit of partners allowed. One of 
 their £1 notes of that date is headed, "Durham Bank," and signed, "For 
 Mowbray, Hollingsworth, Shields, Boulton, Wetherell, and Mason. J. Wether 5II." 
 
 The note has a small vignette of the Bishop's Mitre. In Houlden's directory 
 for 181 1, Messrs. Mowbray & Co. are announced as having estabhshments at 
 Berwick and Kelso, Darlington and Durham. (See Mowbray, Hollingsworth, & Co., 
 Berwick Bank.) 
 
 They doubtless had an extensive issue of small notes, which like all others 
 of their day were subject to forgery. It was for a forgery upon this bank 
 that John Boyd was executed at Morpeth in 1809. The following records copied 
 from the originals will show the procedure : — 
 
 ORDER OF THE MAGISTRATE TO THE KEEPER OF THE NEWCASTLE GAOL. 
 
 Town and County op] To the Keeper of the Qaol of Newcastle 
 
 Newcastle-upon-Tyne. J in the said Town and County. 
 
 Receive into your Custody the body of John Boyd late of the Town of Newcastle-upon-Tyne 
 in the County of the same Town, whom I herewith send you, he having been apprehended and 
 brought before me one of his ^Majesty's Justices of the Peace, in and for the said Town and 
 
[355] 
 
 County of Newcastle-upon-Tyne, charged with having on the 22nd day of April last at the 
 Town and County aforesaid feloniously uttered as true to divers persons divers (to wit) Twenty 
 pieces of paper partly written and partly printed purporting to be promissory notes for the 
 payment of money (that is to say) the sum of twenty shillings each, such promissory notes 
 being false, forged, and counterfeited, and the said Jolin Boyd at the time of so uttering the 
 same knowing the same to be forged, with an Intent to defraud the said persons, and also to 
 defraud Arthur Mowbray, George Lewis HoUingsworth, William Shields, William Boulton, 
 John Wetherell, and Christopher Mason. 
 
 I do therefore command you to keep the said John Boyd safely in Custody in the said 
 Prison until he shall be from thence delivered by due Course of Law. 
 
 Given under my hand and Seal the Nineteenth Day of May, 1809. 
 
 (Signed) H. CRAMLINGTON. 
 
 ORDER OP THE CLERK OP ASSIZE TO THE OPPICIALS OP MORPETH GAOL. 
 
 George the Third by the grace of God of the United Kingdom of Great Britain and Ireland King, 
 Defender of the faith. To our Sheriff of our County of Northumberland, Greeting. — Whereas for 
 certain reasons us thereunto moving We have lately commanded our Sheriff of our Town of Newcastle- 
 upon-Tyne and County of the same Town to convey the Body of John Boyd detained in our Prison of 
 our said Town of Newcastle-upon-Tyne and County of the said Town, under his custody and to deliver 
 him to you without delay, together with the Cause of his being taken and detained. We therefore 
 command you firmly injoining you to receive the said John Boyd from our Sheriff of our said Town of 
 Newcastle-upon-Tyne and County of the same Town and that you do without delay cause him to be 
 kept under safe and secure custody as you will answer to us thereupon, until he shall from thence be 
 delivered by due course of law, and this you are not to omit on peril that may fall thereon. Witness — 
 Sir Alan Chambre, Knight, at the Guildhall of the Town of Newcastle-upon-Tyne, the twenty-ninth 
 day of July in the forty-ninth year of our reign. — Rigge (Clerk of Assize). 
 
 Endorsement for the King — Geo. Wood. 
 
 Endorsed upon the first warrant is the following : — 19th May, 1809. John Boyd's Warrant. 
 
 Assizes, 29th July, 1809. John Boyd's Warrant. 19th August, 1809. The within-named 
 
 John Boyd was Executed according to his Sentence. 
 
 A local paper writes, August 19th : — 
 
 " John Boyd was executed at Morpeth, pursuant to his sentence, for a forgery on the Durham Bank. 
 He was taken to the place of execution in a chaise, handsomely dressed in a suit of black, with black 
 silk stockings, in which attire, at his own request, he was deposited in the earth. This unfortunate 
 young man, who was only twenty-one years of age, had very respectable connections in Ireland, but 
 had assumed a false name that this history of his guilt might never rea.ch the knowledge of his friends 
 and relatives." 
 
 I am informed that while Boyd was upon the scaffold, two gentlemen came 
 up on horseback and saluted the wretched prisoner, and then rode away. It is 
 also related that the condemned man, while in Morpeth prison, presented his 
 gold watch to the daughter of the governor. 
 
[356] 
 
 In 1 8 10 a Durham note is signed "For Mowbray, Hollingsworth, Wetherell, 
 Mason, Shields, and Boulton, Wm. Shields." Another change in the firm occurs 
 prior to June 22nd, 1813, when a Darhngton note is signed "For Mowbray, 
 Hollingsworth, Wetherell, Shields, Boulton, & Co., George Lewis Hollingsworth 
 (Mr. Mason having quitted the partnership). Entered by Nath. Plews." A 
 Durham note, dated 29th July, 1814, names the same partners and is signed by 
 Wm. Shields. Entered by H. Simpson. Mr. Shields appears to have been the 
 active member of the firm at Durham, where the bank is still remembered as 
 "Shields's Bank." Probably he was the William Shields named at Durham in 1790 
 as Mercer, Draper, and Banker. Several of the notes quoted are from a " pile " 
 recently found, and supposed to have been part of the spoil of a robbery in 18 15, 
 interesting particulars of which have been furnished by a Durham magistrate, 
 and will be found at the end of the history of this bank. 
 
 Up to this date all the notes of the firm that have come before me are for £1 
 or £^ ; on October ist, 18 14, they were issuing notes for one guinea. 
 
 The following year saw the close of their banking career. In July of 18 15, 
 they were proclaimed bankrupt, wiien the partners were Arthur Mowbray, 
 George Lewis Hollingsworth, John Wetherell, Wm. Shields, William Boulton, and 
 Wilham Richard Stokes, trading as bankers at Darlington, Durham, Thirsk, and 
 Lothbury, London. The firm had recently opened a London house, as in the list 
 
 of Metropolitan bankers for 
 1 8 14, Mowbray, Hollings- 
 worth, & Co. are announced; 
 they do not appear in any 
 subsequent list. They were 
 probably led to open a bank in 
 London by their new partner, 
 Mr. William Richard Stokes, 
 evidently a brother-in-law of 
 Mr. Hollingsworth who had 
 married Miss Mary Stokes of 
 Queen's Square, London. 
 
 The premises occupied by 
 the bank in Darlington were 
 situated upon the High Row. 
 
 After the failure of the firm the property was acquired by Messrs. Backhouse & Co. 
 
 (see page i^y). A sketch of the premises is given in the margin. 
 
[357] 
 
 17, & 18, from 10 
 
 'clock to 4 each 
 
 day. 
 
 19 & 20, 
 
 
 
 21 
 
 
 
 23, 
 
 
 
 24, 
 
 
 
 26 & 27, 
 
 
 
 30, 
 
 
 
 81, 
 
 
 
 informed what the terms were that Mr. Mason 
 
 It has been stated that Mr. Mason retired from the firm some httle time 
 prior to the stoppage, but doubtless many notes with his name upon them would 
 still be in circulation. For these notes he considered himself liable ; he therefore 
 made the following arrangements. The Durham County Advertiser ^ December 
 7th, 1 8 1 6, announces : — 
 
 MOWBEAY & CO.'S BANKRUPTCY. 
 " The Holders of Cash Notes of the Durham and Darlington Banks bearing Mr. Slason's name are 
 requested to meet him at any of the undermentioned times and places, when (the notes being produced) 
 such mode of payment will be offered as he trusts will be satisfactory. 
 
 At Mrs. Smurthwaite's, Hat and Feathers, Durham, Dec. 16, 17, & 18, from 10 o 
 
 ,, Scott's, Darlington 
 
 ,, Harrison's, Barnard Castle 
 
 ,, Ferguson's, Catterick Bridge 
 
 ,, Haseltine's, Thirsk 
 
 „ Hewson's, Stockton 
 
 „ Loftus', Newcastle 
 
 ,, Black Bull, Hexham 
 Durham, 13th November, 1816." 
 
 Unfortunately we are not 
 offered. I received a letter from Mr. John R. Ord of Haughton Hall, dated 
 August i/th, 1893, that contains some interesting information regarding the above. 
 He says :— 
 
 " Early in the century — probably its second decade, my father, the late John Oxd of Newton Ketton, 
 near Darlington, was journeying towards York. In the company was a gentleman — a partner in one of 
 the then Darlington Banks — who took every opportunity of passing off some Bank Notes, erasing his 
 own name before doing so." 
 
 It is highly probable that the gentleman referred to was Mr. Mason, and that 
 after he left the bank he made a point of erasing his own name from all the notes 
 of the old firm that came through his hands. 
 
 The most active partner in the firm at the period of their collapse was 
 Mr. Hollingsworth. Some little time after the stoppage, he issued a pamphlet 
 from which a good idea of the cause of their failure is gathered. It is entitled : — 
 
 " A Plain Statement of Facts Concerning the Cause of the Failure of the Durham, Darlington, and 
 Thirsk Banks, and with regard to certain reports which have been circulated relative to the writer of 
 these pages." By George Lewis Hollingsworth, lately a partner in those Banks. A New Edition with 
 additional Notes. " I will a round, unvarnished tale deliver." — Othello. Printed for the Author 
 (and not Published) By Edward Walker, Pilgrim Street, Newcastle, 1815." 
 
 After the preamble, the writer states : — 
 
 " That the debt of Easterby, Hall, & Co., proprietors of lead mines in Arkendale and Derwent, may be 
 considered the exclusive cause of the Bank's failure. The account with that house commenced in 1805, 
 advances wore made from time to time until by 1808 they were debtors to the bank of £100,000 (which 
 by the time of the failure had grown to £170,000). Many of the needy creditors of Easterby, Hall, & Co., 
 got to know that the Bank was so deeply involved that it could not let them stop, pressed their claims 
 
L_358j 
 
 and so increased the difficulties. la 1812 the Arkendale and Derwent Mines Company was formed. 
 The persons who joined Easterby, Hall, & Co., gave them £216,000 for twenty-seven fiftieths of the 
 mines, and the remaining twenty-three fiftieths were reserved by Easterby and assigned to trustees for 
 the security of the Bank. 
 
 Mr. HoUingsworth recounts a chapter of misfortunes and disappointed expectations of reducing 
 the debt of Easterby, Hall, & Co., that doubtless are too often the fate of bankers who have over- 
 advanced to one firm. Two vessels were despatched with lead to Petersburgh, where it was selling at 
 a high price, and they were to bring back Russian produce. At least £20,000 was expected ; the 
 matter, however, was mismanaged and no payment was received. In 1809 a considerable sum was 
 anticipated from Hazlehurst & Co. of Philadelphia, who owed Easterby £25,000, but they failed and 
 assigned all their property to American Creditors. A large sum was expected from an arbitration with 
 respect to damage which had been done to the Derwent Mines of Easterby, Hall, & Co., by the Lead 
 Company, usually denominated the Quakers' Company, who had formerly occupied them. In the year 
 1809 a verdict was obtained against that company at the Assizes in Durham for £100,000, subject to the 
 award of a very respectable Counsel, to whom the case was referred. *' The award, however, was made 
 only for £9,000, and our hopes from this source were of course frustrated." 
 
 Mr. Stokes, father-in-law of Mr. HoUingsworth, had run up an over-draft of 
 about ;^ 1 2,000 which led to family recriminations and lengthy explanations. The 
 pamphlet consists of 30 pages ; it also contains an account of Hollingsworth's 
 private property and expenditure. 
 
 The statements made by Mr. HoUingsworth were vigorously assailed by " A 
 Creditor " in a letter to the Durham Advertiser, to which he sends a long 
 rejoinder from Haltwhistle, dated February 19th, 18 16, but it simply recapitulates 
 the pamphlet and contains no new information. The estate was not wound up 
 until 1849, when a final dividend was paid of 3/4 in the pound. 
 
 ARTHUR MOWBRAY was Receiver for Bishop Barrington of rents and 
 fines belonging to the See of Durham, and owned and resided at Sherburn Hall, 
 near Durham. 
 
 " Sir Henry Vane Tempest died Augusb 1st, 1813, and on the 17th the Court of Chancery appointed a 
 manager and receiver of his collieries in the interest of his only child Lady Frances Emily Vane 
 Tempest ; and the Lord Chancellor observed that he was well acquainted with these collieries and 
 was convinced that a single week's delay would be disastrous, and Arthur Mowbray was appointed to 
 the post. When he bacame bankrupt at the time of the stoppage of the bank, the Court of Chancery 
 made an order that all unsatisfied claims should be proved before the Master on or before February 
 30th, 1816. In April, 1819, the Lady Frances Emily married Charles William Stewart, who became 
 Marquis of Londonderry." 
 
 GEORGE LEWIS HOLLINGSWORTH, of Darlington, married January 
 24th, 1807, Mary Stokes, the daughter of Henry Stokes, Esq., of Brunswick Row, 
 Queen's Square, London. Mr. HoUingsworth was owner of some fields in the 
 vicinity of Darlington through which a very pleasant footpath passed. He had 
 the foot-way closed to the public " to the great indignation of the Cockerton 
 weavers, who repeatedly demolished portions of the excluding fence." G. L. 
 
[359] 
 
 Hollingsworth appears as a subscriber of £20 to the Hartlepool pier fund about 
 18 1 3, and of £20 to the fund for procuring an Act of Parliament for the same 
 town. In 1808, April 13th, he laid the foundation stone of the New Town Hall, 
 Darlington. 
 
 The bank very early in their history had an agency at Barnard Castle. In 
 1 79 1 Messrs. Harrison, Swainston, and Son, Grocers and Drapers, were their 
 agents in that town. One of the employes of this establishment became a man 
 of some eminence. Mr. Nathaniel Plews was a clerk in the bank for some years, 
 and a great many of the old notes are entered by him. Upon its failure he 
 transferred his services to Messrs. Backhouse & Co., where he became cashier. 
 Subsequently he joined his brothers in conducting their father's business as brewers 
 at Bedale, still retaining his position in the bank. He took an active part in 
 promoting the formation of the North of England Railway, and finally became 
 a director, holding that position until his death. Through his interposition, a 
 scheme for removing the Railway Shops from Darlington to York was abandoned. 
 He died November 17th, 1858, his funeral being one of the largest ever seen in 
 the town. 
 
 I have been favoured with the following account of the robbery of a number 
 of notes of this bank : — 
 
 " In the winter of 1814-15, Mr. Richardson, a messenger of the London Lead Company, was returning 
 on horseback from Durham with money for the ' Pays,' amounting to £1,500, said to consist of £1,000 
 in gold and £500 in notes of Mowbray & Co. He crossed the moors lying between Weardale and 
 Teesdale, and when he was near St. John's two men in disguise attacked him and robbed him of the 
 whole £1,500 ; he afterwards recognised one of his assailants in Romaldkirk. At this date. Parish 
 Constables represented the law, and they, being unwilling ratepayers annually elected at the 
 Parish Meeting to serve the office of Constable, but little effort was made by them to trace out and 
 apprehend offenders against the laws. Reports and suspicions were very rife in the neighbourhood, 
 one person hinted at being a farmer living on a small and poor farm near the moors, about three miles 
 from where the robbery took place, and known to be deficient in worldly means ; very soon afterwards 
 he took a much larger farm and found ample means to stock the land ; this fact made suspicion a 
 certainty in the eyes of his neighbours. 
 
 Time passed on bringing many changes with it and the Robbery became a dim memory of the 
 past, only lingering in the fireside talk of some of the aged people, but it was revived by a 
 singular occurrence. On March 4th, 1885, a woman changed a £5 note at a draper's in Towlaw, a 
 town about four miles from where Richardson was robbed in 1815. She received £2 13s. in cash 
 and £2 7s. in goods; it was soon discovered that the note was one of the Durham Branch of 
 Mowbray & Co. which suspended payment in 1815. She was apprehended and charged with " obtaining 
 monies and goods by false pretences by tendering a bad bank note. She was released on bail, and on 
 March 11th the Justices sitting at Wolsingham adjourned the case to April 7th, when she was 
 discharged, as it was shown that all the parties at the time expected, or thought, the note was a good 
 one. The goods and monies were returned to the draper, and the note was detained by the 
 Justices' Clerk. 
 
 OF TH£ 
 
 UNIVERSITY 
 
[36o] 
 
 The woman's husband said he found the note by the roadside and he and his wife were told by 
 several people that it was good and worth £5. It could not be proved that the woman knew it was 
 valueless, in fact, what evidence there was, went to show that she was under the impression 
 it was good, but the prosecution held the opinion that she obtained the note from the 
 Housekeeper of a gentleman, formerly a farmer, living on his own land about four miles from 
 where the robbery of 1815 took place, who is a descendant of an ancient family that had been owners 
 of the land for many years. In 1884 he sold the property and removed to Tow Law, but before he left, 
 report says, he found a roll or pile of Durham Bank Notes, amounting in value to near £500, and this 
 being the amount said to have been stolen from Richardson, it was supposed that the robbers had 
 utilised the gold and hidden the notes, and the bank suspending payment a few months afterwards, no 
 attempt had been made to put them in circulation. 
 
 A Rate Collector stated that he called at the house shortly before the removal, and visitors being 
 but few, for the house is some distance from any public road, he made a long visit, and in the course 
 of conversation he was asked if he would have a £5 note as a present ; a pile near six inches thick 
 was produced and one was given to him." 
 
 pelrson, XTbomaa^ 
 
 Founded about 1778. 
 
 Extinct about 1820. 
 
 Partners. 
 
 Thomas Peivson. 
 George Peirson. 
 
 THE Peirson family originally came from Helmsley, where they carried on 
 the business of tanners. They paid rates in Whitby, 1697, and had a 
 tannery at Spital Bridge until 1754. Subsequently they became drapers, 
 and latterly merchants. 
 
 About the year 1778 Thomas Peirson commenced (most probably) the second 
 bank established in Whitby. A Whitby historian says : — 
 
 "The notes issued by the three earliest bankers, viz., Simpson, Peirson, and Sanders, were at first 
 made payable in London, and many of them were ^os^ Bills, that is, bills not payable on demand, but 
 a few days after sight. It was in 1785 that notes began to be issued in the present manner, and the 
 bank bills of the old form did not continue later than 1789." 
 
 A mural tablet in St. Mary's Church, Whitby, informs us that Thomas Peirson, 
 Esq., banker and merchant, died November loth, 18 18, aged 6"/, and a headstone 
 in the Churchyard records that his wife Frances died May 13th, 1794, aged 32. 
 Other members of the family are buried near — James Peirson, Esq., of Whitby, 
 died in London, January ist, 1827. Jane (wife of Thomas Richardson) died June 
 24th, 1859, aged 70. Robert Peirson, Esq., of Coleman Street and Pentonville, 
 London, died in 1830 and left the following legacies to Whitby charities : — 
 Seamen's Hospital, ^^300 ; Female Charity, Public Schools, Dispensary, and 
 
[36^j 
 
 Clothing Charity, ;^ioo each. WilHam Peirson gave two houses for the poor in 
 Whitby in 1772, and John Peirson gave £20 for Church Ornaments in 1770. Mr. 
 George Peirson was the last of the family to carry on the bank, which he 
 relinquished about 1820. He died about i860, but left no male issue. It speaks 
 well for the stability and prudence of the Whitby bankers, that during the time of 
 panic which affected other parts of the North of England in 1793, 1797, 1803, 
 18 1 5, and 18 1 6, they stood their ground. I have not met with any record 
 regarding the guaranteeing of their notes, and no bank appears to have suspended 
 payment until the failure of Messrs. R. and J. Campion in 1841. 
 
 1RaiJ^C0 & Co, /iDaiton. 
 
 Founded Prior to 1810. Partners. Extinct prior to 1838. 
 
 Information incomplete. 
 
 IN the list of country bankers given at the end of Houlden's London Directory 
 for 18 1 1, the above firm is announced. In another place in the same 
 directory, they are named Raikes & Curries. Their London agents were 
 Lefevre & Co. Mr. Price in his " Hand-book of London Bankers," says : — 
 " Curries & Co. . . . In 178 1 the firm was Currie, Lefevre, James, & Yallowby ; 
 and in 1785, Lefevre, Curries, James, & Yallowby. In 1788 Mr. James's name 
 ceased to appear, and a junior partner of the name of Raikes was admitted into the 
 firm. . . . In 1 8 14 the firm was styled Curries, Raikes, & Co.; and from 
 1827 until 1864, when they amalgamated with Messrs. Glyn, Mills, & Co., the 
 style of the firm was Curries & Co." 
 
 IRaper, Swann, a Co. xrwrsft. 
 
 Established at Discontinued at 
 
 York 1771. Partners. Thirsk by 1827. 
 
 Information incomplete. Failed at York 
 1879. 
 
 IN 1823, Francis Amitt, who combined the business of tanner, grocer, and 
 draper, was agent for the above firm, his premises being situated on the west 
 side of the Market Place, Thirsk. Mr. Arnitt failed in 1827, when the 
 Thirsk branch of this firm appears to have been discontinued. 
 
 The head office of the bank was at York where it was founded in 1771. 
 In the postscript of the letter of Jonathan Backhouse of Darlington, written to his 
 
[^62j 
 
 father in 1777, and given on page 135 of this work, it will be noted that he says : — 
 "John Swann of York Bank called here yesterday." In 1822 the firm are 
 announced as Raper, Swann, Clough, Swann, Bland, & Raper, their London agents 
 being Glyn & Co. They carried on an extensive business until June, 1879, when 
 they suspended payment. At a statutory meeting of creditors, the Receiver, 
 Mr. Young, of Young, Turquand, & Co., stated that the habilities were ;^225,ooo. 
 Assets ^171,000. Deficiency ;^54,ooo. The business of the York Bank was 
 taken over by Messrs. Beckett & Co. of Beverley. 
 
 IRiMei^, Sir HDattbcw Mbite, d, Co. Bewcastie-upon-xr^ne. 
 
 (see Bell, Cookson, &" Co.) 
 
 IRoper a prteetman. iRtcbmont). 
 
 (see Sir John Lavoson.) 
 
 1Ru69eII, ailan, d flDaling. Sun&erlan&. 
 
 Founded prior to SUNDERLAND BANK. Relinquished prior 
 
 1787. Partners. to 1803. 
 
 William Russell. John Maling. 
 
 Robert Allan. — Wade. 
 
 HThIS firm is recorded in the letter book of Davison-Bland & Co., December, 
 1787, under the above title. We have no further information regarding 
 them until the panic of 1793. A newspaper of that date has the following 
 announcement : — 
 
 " SuNDEELAND, April 10th, 1793. 
 At a numerous Meeting held this Day at the house of Mrs. Reay, it was unanimously agreed to take in 
 Payment, as usual, the Bank Notes of Messrs. Russell, Allan, and Wade, and we do hereby agree, to 
 indemnify the Public for the Amount of any Sunderland Bank Notes they may hold." The list is 
 signed by 117 firms or private individuals. 
 
 We may presume from the announcement, that at this time they were trading 
 as the "Sunderland Bank," and were the only bank in that town. This idea is 
 strengthened by the fact that the list before me is signed by three gentlemen who 
 subsequently became bankers, viz., Charles Abel Heurtley, John Goodchild, sen., 
 
[363] 
 
 and John Goodchild, jun. The next pubhc record of a Sunderland bank is in 1797, 
 when a public meeting was held and a resolution passed to accept the notes issued 
 by the Banks of Sunderland, Newcastle, and Durham. It is impossible to tell 
 from this announcement whether Russell & Co. were still in business. The list is 
 signed by C. A. Heurtley, but not by the Goodchilds. In the next year of panic, 
 1803, a public meeting was held in Sunderland to guarantee support to the local 
 bank, the only one named being the Wear Bank, Messrs. Goodchild, Jackson, 
 Heurtley, & Co. ; so I presume that at some time between 1793 and 1803, Messrs. 
 Russell, Allan, and Wade, must have given up the business of bankers. 
 
 Matthew Russell was the second son of Matthew Russell, of Rowenlands, in 
 Cumberland. He settled in Sunderland in 1 717; in business he was a timber 
 merchant and ship builder, and amassed a considerable fortune. He subsequently 
 became blind, when the business was conducted by his nephew, William Russell, 
 banker, of Sunderland, to whom at his decease he bequeathed ;^io,ooo. WILLIAM 
 RUSSELL was the second son of the then Squire of Rowenlands, and from his 
 father inherited another ;^i 0,000, so that early in life he was master of ;^2o,ooo, a 
 large sum a hundred years ago. He subsequently became proprietor of the 
 Wallsend colliery, the coals from which as " Russell's Wallsends " had a world-wide 
 reputation. He was considered one of the wealthiest commoners in England. He 
 lived for some time at Newbottle, and afterwards purchased Brancepeth Castle. 
 He married Mary, daughter of Robert Harrison, Esq. of Sunderland, who with her 
 sisters, Elizabeth, wife of Robert Allan, and Ann, wife of John Maling, were 
 co-heiresses of their father. Mr. Russell died June 8th, 1817; a notice in the 
 Gentleman s Magazine states : — 
 
 " Died at Brancepeth Castle, in the county of Durham, in his 83rd year, William Russell, Esq., whose 
 mild and amiable qualities had not less endeared him to his family and friends, than his genuine 
 benevolence and public spirit had entitled him to universal respect and esteem. Among many other 
 instances of his well-directed munificence and patriotism may be mentioned an hospital, which he 
 founded and liberally endowed some years previously in the county of Durham, for a considerable 
 number of aged persons, with a school attached for a large establishment for boys and girls. In 1795, 
 Mr. Russell was prominently instrumental in raising a large body of infantry in the county of Durham, 
 to the expense of which he mainly contributed, and subsequently, at the cost of several thousand 
 pounds, entirely borne by himself, he raised and equipped a numerous corps of sharp-shooters (the 
 Wallsend riflemen, commanded by John Buddie, Esq.,) esteemed one of the most complete in the 
 kingdom. During the period which shortly preceded his decease, and up to the moment of his death, 
 he received and maintained the poor coming from all quarters in barracks constructed for the purpose, 
 where every requisite comfort and accommodation was provided for them, while he kept alive their 
 habits of industry by employing such as were able, in various works upon his extensive estates." 
 
 At the death of Mr, Russell, the property passed to his son William, whose 
 daughter married Viscount Boyne. 
 
[364] 
 
 " Boyne, Viscount and Lord. Gustavus Frederick, 7th Viscount. Born 11 May, 1797, married 9 Sept., 
 1828, Emma Maria, daughter of William Eussell, Esq., M.P., of Brancepeth Castle, Co. Durham. On 
 her succeeding to that property, on the death of her brother in 1850, he assumed, by Eoyal license, 
 the name and arms of Eussell in addition to those of Hamilton. His Lordship had issue by her (who 
 died 29 April, 1870) Gustavus Eussell, now Viscount Boyne. His Lordship was created Baron 
 Brancepeth, 31 Aug., 1866. He died Oct. 22, 1872." 
 
 The Allan family were of Darlington and Blackwell Grange. George Allan, 
 bap. June 1694, married Thomasina, daughter of George Prescott of Darhngton, 
 August 13th, 17 17. From the Prescott family he inherited considerable property. 
 He built Blackwell Grange. His last surviving daughter, Anne, who died in 1787, 
 devised the estates to her cousin James Allan of Darhngton. James married 
 Elizabeth, daughter of William Pemberton of Darlington. His eldest son George, 
 inherited Blackwell, and became an eminent antiquary. His pedigree and portrait 
 are given in Surtees' History of Durham. 
 
 ROBERT ALLAN (his second son,) born 12th September, bap. 24th October, 
 1740, at Bishopwearmouth, married February 23rd, 1767, Elizabeth, daughter and 
 co-heiress of Robert Harrison of Sunderland, and at some time was a banker in 
 co-partnership with his brothers-in-law, — William Russell and John Maling — the 
 three partners having married sisters. He died March 28th, 1806. His son 
 Robert married Hannah, daughter of William Havelock of Sunderland. 
 
 JOHN MALING, third son of William Mahng and Catherine Thompson. 
 Born 29th November, 1746; built and resided at the Grange, Bishopwearmouth. 
 He married first, September 6th, 1768, JMargaret, only daughter of Hugh 
 Awdos, Esq., of Bishopwearmouth (whose wife was Mary, daughter of Thomas 
 Holmes, Esq., of Kendal, and whose other daughter, Sarah, was married to 
 Warren Maude, Esq., of Sunderland), by whom he had issue a son and daughter. 
 
 His wife died January 23rd, 1774. Mr. Maling married again at Sunderland 
 Church, Ann, widow of Hodgson Thompson, Esq., of Sunderland. She was the 
 daughter of Robert Harrison, Esq., of Sunderland, and co-heiress with her sisters 
 (Mrs. Russell and Mrs. Allan), of her father. Mr. Maling died November 6th, 1823, 
 and left issue by his second wife, three sons and four daughters. William Maling, 
 the eldest son by the first wife, was born June 7th, 1769. He married May loth, 
 1800, Elizabeth, only daughter of William Haygarth of Kidside Lodge, West- 
 moreland. 
 
 Many branches of the family still hold leading positions in Sunderland. 
 
 Mr. WADE. — Of this gentleman I can get no positive information. He may 
 have been Thomas Wade of Hylton Castle. 
 
[365] 
 
 Founded 1779. Partners. Relinquished about 1830. 
 
 Jonathan Sanders. Jonathan Sanders, jun. Joseph Sanders. 
 
 THIS bank was commenced June 14th, 1779, by Jonathan Sanders and Sons, 
 who appear to have carried on the ordinar}' business of bankers. They 
 are named in the books of Messrs. Campion & Co., bankers, Whitby, from 
 1 800 to 1805. Mr. Sanders, sen., died prior to 1 8 11 , when the firm became Jonathan 
 and Joseph Sanders. In 1823 they are quoted as bankers in Church Street, 
 Whitby, their London Agents being Masterman & Co. 
 
 In 1828, amongst the bankers at Whitby wilHng to receive subscriptions for 
 the abohtion of slavery, and for the sufferers from disasters in the whale fishery, 
 are Jonathan and Joseph Sanders. Jonathan Sanders, jun., died at Whitby, 
 March 31st, 1829, aged 75. The surviving partner soon after rehnquished the 
 banking business. 
 
 I gather that the family came to Whitby towards the close of the seventeenth 
 century, one member being Collector of Customs for that port. They paid taxes 
 there in 1699. They joined the Society of Friends about 1750. A few years 
 afterwards, Mr. Jonathan Sanders commenced the first manufactory for sail-cloth 
 in Whitby, the business developing rapidly, Messrs. Campion and Messrs. 
 Chapman (who were also bankers) being the other firms engaged in this trade. 
 In 18 17 Messrs. Sanders' business "comprised two or three branches; one near the 
 Market Place containing 1 1 looms, one in Tate Hill, containing 1 6 looms, and one 
 in Guisborough, of about the same number." 
 
 It is reported that this bank was the establishment Mrs. Gaskell had in view 
 when she wrote her sad but very interesting story entitled " Sylvia's Lovers." 
 Any one acquainted with Whitby history, and especially with the press-gang 
 episodes, will see how many facts have been woven into the story, so that 
 probably the bankers pourtrayed had as real an existence as the other characters 
 in the book. 
 
[z(>(>^ 
 
 Savinge' Ban??, 
 
 1Flewcastle*upon*'G;sne. 
 
 Established 1817. 
 
 AT various times benevolent people have opened banks to receive the savings 
 jT"^ of those whose means were not sufficient to enable them to invest their 
 surplus in the ordinary channels. The honour of starting the first 
 savings' bank in the country is claimed by Ryton-on-Tyne, where a bank was 
 started in 1796, probably for "Crowley's Crew," the iron workers at Winlaton. 
 Various other banks sprang up in other parts of the country. 
 
 In 1799 the Rev. J. Smith of Andover, agreed to receive small sums from his 
 parishioners, during the summer, to be returned at Xmas with one-third bounty. 
 The Rev. H. Duncan of Ruthwell, Dumfriesshire, had a most successful savings' 
 bank in 18 10. 
 
 In 18 17 Government took up the question, and a bill was passed to give 
 stability to such undertakings, and ensure a regular line of procedure. Newcastle 
 soon availed itself of the provisions of the new Act. In November, 18 17, the 
 following requisition was addressed to the mayor : — 
 
 " We the undersigned request you will have the goodness to call a meeting of the inhabitants of 
 Newcastle and neighbourhood for the purpose of adopting means for the establishment of a Savings' 
 Bank in Newcastle, in conformity with the provisions of an Act passed in the last Session of 
 Parliament, entitled " An Act to encourage the establishment of Banks for savings in England. 
 November 11th, 1817." 
 
 M. W. Ridley. 
 Outhbert Ellison. 
 Thomas Burdon. 
 Joseph Porster. 
 Isaac Cookson, jun. 
 George Forster. 
 Benjamin Sorsbie. 
 John Smith, Vicar. 
 John CoUinson, Rector of 
 Gateshead. 
 
 In consequence of the above requisition and for the purpose therein specified, I do hereby 
 
 appoint a public meeting of the inhabitants of Newcastle and the neighbourhood, to be holden in the 
 
 Guildhall on Tuesday the 21st instant, at 12 o'clock. 
 
 ROBERT CLAYTON, Mayor." 
 
 The Mayor presided at the meeting, when the bank was duly constituted. 
 
 " Mr. Potts was elected Treasurer, and a Committee was appointed, consisting of the Mayor, A. Reed, 
 Jos. Forster, Sir J. Burdon, B. Sorsbie, J. Smith (Vicar), James Losh, Revd. J. Collinson (Gateshead), 
 T. H. Bigge, Geo, Hawks, C. W. Wawn, Rev. W. Turner, Robert Reay, Rev. R. Green, Dr. Headlam, 
 Mr. Potts, Rev. J. Blackburn, Mr. N. Clayton, Mr. Armstrong, Mr. Clarke, Mr. Charnley, Rev. 
 C. Benson, with all subscribers of one guinea and upwards." 
 
 John Akenhead 
 R. C. Askew 
 Christopher Benson. 
 Thos. H. Bigge. 
 Emmerson Charnley. 
 E. H. Campbell. 
 Thos. Davidson. 
 Thos. Harvey. 
 W. S. Hawks. 
 Geo. Hawks. 
 
 John Hawks. 
 
 T. E. Headlam, 
 
 T. E. Headlam, Newcastle. 
 
 James Losh. 
 
 James Potts. 
 
 Geo. Richardson, 
 
 Wm, Turner, 
 
 Robert Walters. 
 
 Edw. Walker. 
 
 C. W. Wawn. 
 
[J^ 
 
 A subscription list was opened to defray the formation expenses. The 
 Corporation of Newcastle headed it with £^^0. At the first meeting /i 17 was 
 announced, which by the next week had risen to £160. Another meeting was 
 held December 12th at the Literary and Philosophical Institute. 
 
 On January 3rd, 18 18, it was announced : — " The Savings' Bank in Newcastle 
 will open for the receipt of deposits on Saturday, the loth January, from 11 to i, 
 and from 8 to 9 in the evening," and the following week it is stated that the 
 meeting will be at the Guildhall, the same hours being retained. 
 
 The executive comprised nine trustees, a treasurer, a secretary, three auditors, 
 twenty-four directors, an arbitrator, and an actuary. At the first meeting seventy 
 depositors paid in ;^300. Unfortunately, the minutes of the meetings were not 
 recorded until April, 1821, but from that date they are in excellent preservation. 
 
 On April 8th, 1822, it was resolved: — 
 
 " In consequence of the increase of business of the Bank, the Salary of the Clerk (Archibald Bolam) be 
 in future £50 per Ann., and that a donation of £10 be paid in addition to his last year's salary of £30." 
 
 Messrs. Timothy Cutforth (first sub-agent of the Branch Bank of England), 
 J. R. Batson, James Archibold, and Wm. Beaumont, were elected directors. Rev. 
 Anthony Hedley* was acting as secretary, and Wm. Potts, treasurer. In April, 
 1823, Mr. Bolam's salary was again raised. 
 
 " Taking into consideration the increased business of the Bank and at the same time Mr. Archibald 
 Bolam — the clerk's general punctuality and assiduity. It was unanimously liesolved that his Salary 
 be increased to £75 per Ann. — the addition to take place from April, 1823." 
 
 A very strong resolution was passed on March 3rd, 1824, showing how eager 
 the general public was to avail itself of the large interest offered. 
 
 " Resolved — That the investment of money in Savings' Banks by persons who from their wealth and 
 situation in life can save and act for themselves is a great perversion of those excellent Institutions 
 from their legitimate end, which in the Act of Parliament by which they were established, is stated to 
 be for the safe custody and increase of small savings belonging to the industrious classes of His 
 Majesty's subjects. The directors determine to be particular from whom they receive money, and to 
 limit the amount. It is most earnestly hoped that no person in the more opulent Ranks of life will for 
 the future attempt to avail themselves of the advantages of the institution." 
 
 The Rev. Anthony Hedley resigned the post of secretary, April 21st, 1824, as he 
 was leaving the district. On February loth, 1826, Rev. William Turner presiding, 
 Mr. Bolam's salary was increased to ;^i50 per annum. In October of this 
 year, the directors are specially summoned " to consider taking premises on 
 the Bridge, lately occupied by the Northumberland Bank," Reed, Batson, & Co. 
 
 ♦ Mr, Hedley was an ardent antiquary who built the cottage at Chesterholme, near Bardon Mill, composed 
 entirely of stones taken from the Roman Wall. 
 
[368] 
 
 The Corporation offer to let them at £(iO, which is accepted ; the premises to 
 be entered November nth. In 1827, Mr. Cutforth resigned as a director 
 and was elected an auditor. In 1828, Mr. Bolam applied for permission to 
 
 occupy the rooms over the bank, 
 which was granted, " all extra taxes to 
 be paid by Mr. Bolam." 
 
 4 — ^^i*»-v«« 
 
 \^r^/^/ 
 
 y^^i 
 
 CI 
 
 ^.A^. 
 
 j »^*^» » « 
 
 
 / .yM/^, 
 
 On January loth, 1828, the first 
 decade in the history of the bank was 
 completed. The report showed that 
 the business had rapidly increased, the 
 deposits for the previous year amount- 
 ing tO;^2io,699. Banks had also been 
 opened in neighbouring towns, and in 
 one year they received the following 
 deposits : — For 1827, Berwick, £1 1,000 ; 
 Alnwick, ;^2,5oo ; Hexham ^15,000; 
 Morpeth, ;^40,ooo ; Durham, ;^i9,369 ; 
 Barnard Castle, ;^ 11,68 9; iDarlington, 
 ;^3 6,000 ; Stanhope, ;^4,6oo ; Stockton, 
 ;^24,549; Sunderland, ;^i,43 1. 
 
 The following year (1828), the New- 
 castle Bank showed another increase, 
 4,200 depositors paying in over ;^2 19,000. The next year there was a considerable 
 falhng off, there being only 4,102 depositors, who contributed ;^i93,228 — a decrease 
 of over ;^25,ooo. I mention this particularly, as the reason assigned for the 
 decrease now strikes us as remarkable. In their report the directors say : — 
 
 " On looking at the transactions of the late excellent Mr. Walker, it is found that the decrease in 1829 
 was caused by mischievous people reporting that the Bank would be broken up in consequence of the 
 establishment of the Branch Bank of England in the Town." 
 
 I have shown in my account of the Branch Bank of England what opposition 
 there was to its entering Newcastle in 1828 ; we here find an instance of it, and 
 the effect that its coming had upon the funds of the Savings' Bank. The returns 
 show that it was ten years before the amount of deposits reached the figures of 
 1828. 
 
 In one other year there was a considerable falling off, viz., 1834. This is 
 attributed to a report circulated in a local paper to the effect that the Government 
 contemplated taking all the'surplus funds of all the Savings' Banks to pay the slave- 
 owners for the emancipation of the slaves. 
 
[369] 
 
 In September, 1828, an important resolution was passed regarding new 
 premises, which shows how successful the working of the bank must have been. 
 
 " Resolved that the sum of £5,000 be forthwith withdrawn from the reserve fund of this Institution 
 and deposited in the names of the Trustees with Messrs. Ridley & Co., until an eligible investment shall 
 be found, to raise a fund to defray the expenses of purchasing or erecting suitable Buildings or other 
 purposes necessary for the management of the Bank." 
 
 In December the ;^5,ooo was invested in 4 per cent. Stock, and soon afterwards 
 £1,02^ 7s. lod. (surplus fund) was withdrawn from the Commissioners for the 
 Reduction of the National Debt, as they would not allow interest. About this 
 time the Auditors, M. Anderson, Robt. Reay, and Benjamin Sorsbie, recommend 
 laying out the surplus funds — 
 
 " In building a handsome edifice for carrying on the said concern which would be an ornament to the 
 Town, and add respectability to the establishment. We think the middle site opposite St. Nicholas' 
 Church would be a convenient situation for such an edifice, and the ground floor could be appropriated 
 to a Corn Exchange, which would leave a considerable income to the Bank." 
 
 A Sub-Committee were appointed, who negotiated with the Corporation. 
 After considerable delay they reported that they were informed that Mr. Grainger 
 was going to build an Arcade in Pilgrim Street, and that he offered them the 
 south-west site. This was thought very suitable, and several plans were submitted ; 
 eventually, "the medium plan" to cost £7,300 was accepted, and Mr. Dobson was 
 appointed architect for the bank. Plans and specifications were gone into, and on 
 July 14th, 183 1, Mr. Dobson suggested that ;^2,ooo should be fixed as the price of 
 the " scite," and ;^5,ioo for the building. The resolutions were duly entered in the 
 minute book, under which was added, " I do hereby agree to the above resolutions 
 as far as the same relate unto me. Signed, Richard Grainger." 
 
 Building operations were completed by Saturday, June ist, 1833, when the 
 new premises were opened to the public. It was further arranged that the part of 
 the building not required for the business of the bank, should be let to Mr. Grainger 
 on lease for 21 years at an annual rent of ;^i40. 
 
 Correspondence occurs regarding the original plans which are not forthcoming, 
 no one apparently knowing in whose custody they had been placed ; eventually, 
 Mr. Grainger presumes that they "were probably used for wastepaper" after 
 the completion of the building. 
 
 In August 1835, the directors state that they have heard that Mr. Grainger is 
 going to apply for a license for a tavern. 
 
 " Resolved, that Mr. Grainger be earnestly requested to take into consideration the great detriment 
 which the conversion of the premises into a public-house or Tavern would be to the Bank, and the 
 adjoining property, and that he forbear any further proceedings for a license on the terms of the notice 
 which he has given." 
 
[370] 
 
 Mr. Grainger agreed to this, and by mutual arrangement the lease was 
 cancelled, an old tenant, Mr. Robson, taking the shop he then occupied at £()0, 
 the rest of the premises being let to Mr. Green, architect, for ^55. 
 
 From time to time, Mr. Bolam's salary was increased — the term Clerk being 
 abandoned for that of Actuary. The salary in 1828 was ;^200. So far all other 
 work appears to have been voluntary, though in August, one of the Directors 
 proposed that " four cashiers or managing clerks be appointed with salaries (to be 
 paid out of the surplus funds) to attend the bank and receive and pay money to 
 the depositors." The motion was lost by seven to five. In May 1838, the use of 
 the rooms was granted to the British Association. 
 
 In March 1838, an assistant clerk was engaged at £(iO, Mr. Ridley being 
 appointed, but he very soon resigned, when Mr. Bolam was empowered to look 
 out for someone else. On December 4th, 1838, it was resolved — 
 
 " that Joseph Millie be appointed assistant, on the recommendation of Mr. Bolam." 
 
 Three days after this appointment, there happened as tragic an event as has 
 ever darkened the history of any bank. 
 
 Early in the morning of December 7th, 1838, the premises in the Arcade were 
 discovered to be on fire. Mr. Robson occupied the front corner shop, and 
 employed many female assistants. An eye-witness who was then at the opposite 
 corner of Pilgrim and Mosley Streets, has related to me that he saw the young 
 women, clad only in their night-dresses, crawling along the deep stone coping that 
 projects under the topmost windows of the Arcade. 
 
 The usual stir and commotion of a fire followed. The inner door of the bank 
 was broken open, and in making his way across the room, a fireman stumbled over 
 the body of a man lying on the hearth. It proved to be Millie, who was quite 
 dead, and presented a most sickening spectacle, having been battered almost 
 beyond recognition, a bent poker lying near, suggesting the instrument of attack. 
 A little farther in the room, Bolam was found ; he appeared to be insensible from 
 smoke and loss of blood from wounds inflicted upon him. The fire was quickly 
 got under, and Bolam was removed to a neighbouring doctor's. He soon regained 
 consciousness, and stated that he and Millie were working after bank hours, that 
 after a short absence he returned, when he saw Millie asleep, as he supposed, upon 
 the hearth-rug, that he did not like to disturb him, so resumed his work, when he 
 almost immediately received a fearful blow from a man whose face was blackened, 
 that he (Bolam) rushed to one of the side-windows to give an alarm, when the 
 assassin pointed to Millie and threatened to serve him in the same way if he were 
 not quiet, that he subsequently became unconscious, and so remained until the 
 firemen found him. 
 
[371] 
 
 His story was at first believed, but further examination showed that the fire 
 had been intentional, all the old useless books and papers out of the safe being 
 piled up ready for burning — that Millie's pockets were filled with coals and paper 
 — and that Bolam's wounds were superficial and might have been self-inflicted. 
 An inquest was held and evidence produced that led to the arrest of Bolam, who 
 at the adjourned inquiry, Friday, December 14th, was found guilty of wilful 
 murder. 
 
 The statements of his housekeeper, Mary Walker, were so contradictory, that 
 she too was given into custody, and eventually charged as accessory after the fact. 
 The bank officials offered — 
 
 " a reward of £100 to any person who shall give such information as will lead to conviction, &c., &c. 
 Lord John Russell will advise Her Majesty to give a free pardon to any but the actual murderer." 
 
 The prisoner Bolam came up at the Spring Assizes on March 4th, 1839, Baron 
 Parke and Baron Alderson being the Judges, and Sir Gregory Lewin, Public 
 Prosecutor. Counsel for the defence applied for a postponement, and the removal 
 of the trial to the county, public feeling being so strong in Newcastle against the 
 prisoner. After a long altercation this was arranged. So great was the anger and 
 indignation of the crowd that it was only by a ruse that Bolam was safely conveyed 
 to gaol. 
 
 The new trial commenced on Monday, July 28th, 1839, Baron Maule 
 presiding. Bolam pleaded not guilty, but the evidence adduced, though wholly 
 circumstantial, was terribly strong against him. In due time the Judge summed up, 
 
 " And in so doing proceeded to strike out all the strong points against the prisoner, accounting for some, 
 assigning plausible reasons for others, and denying many of the arguments which had been adduced by 
 the public prosecutor. Indeed, his whole address was more like a speech for the prisoner than a 
 review of the evidence. He concluded by intimating that if the jury really foimd him guilty, then 
 could he convict him but of manslaughter, and if they did not think him concerned in the death of 
 Millie, then would they give him a verdict of acquittal." Richardson's " Table Book," vol. v., page 69. 
 
 After an absence of three hours, the jury returned a verdict of manslaughter. 
 On the following day he was sentenced " to be transported beyond the sea for the 
 term of his natural life." The prisoner remarked, " My Lord, I regard that 
 sentence as my death." The trial created intense excitement. The Times went 
 to the expense of expressing the trial the whole distance to London. 
 
 On August 31st, Bolam was placed on board the "Attwood," and conveyed 
 to the hulks until his sailing for Botany Bay. The wretched prisoner survived his 
 sentence many years, and apparently gained his freedom some time before his 
 death. He is said to have presented a sun-dial to the Botanic Gardens in Sydney. 
 
[37^] 
 
 The Newcastle Chronicle, March 30th, 1863, contained the following 
 announcement among the deaths : — 
 
 " At his residence, 5, O'Conneli Street, Newtown, Sydney, New South Wales, on 25th December, 1862, 
 Mr. Archibald Bolam, in his 67th year, a native of Northumberland (Harbottle), and for some years 
 resident in Newcastle, and Actuary of the Savings Bank." 
 
 A subscription was opened for the four children left by the unfortunate Millie, 
 which eventually exceeded ;^i,ooo, Messrs. C. H. Cook, John Bulman, David 
 Akenhead, and James Finlay being appointed trustees. The last-named 
 gentleman for many years took a deep interest in the welfare of the children. 
 For a long period Millie's father kept a hardw^are shop in North Shields ; he failed at 
 one time, but some years afterwards most honourably paid all his liabilities in full. 
 
 Though the business of the bank was much inconvenienced by the terrible 
 tragedy, every effort was made to allay public alarm, and fortunately with success. 
 
 As time passed on, the premises in the Arcade were found to be inconvenient. 
 When Grainger Street was extended to the Central Station, the bank directors 
 early secured at a cost of ^2,200 the site on which the present magnificent 
 building stands. On May 3rd, 1862, the business was transferred from the 
 Arcade, and now the Newcastle Savings' Bank occupies one of the most handsome 
 banking establishments in the town. The gross cost of building and site was 
 ;^io,367. Subsequently the Arcade premises were sold for ^3,500. 
 
 Mr. G. M. Masterton was appointed to succeed Mr. Bolam, and retained the 
 position until October loth, 1856 ; he died about twelve months afterwards. Mr. 
 James Fletcher was appointed 26th November, 1856, and retained the position 
 until his death, January 25th, 1892. At the death of Mr. Fletcher, many 
 applicants clamoured for the appointment, and the directors, on February 4th, 
 1892, unanimously elected a gentleman who had the greatest claim to the 
 position, namely, Mr. H. Piper, who had acted as cashier in the bank since 
 January 30th, 1869, the appointment giving general satisfaction, both in and 
 outside of the bank. 
 
 Sbielt)0, Willianu Burbam. 
 
 Probably merged into 
 Mowbray & Co. 
 
 Founded prior to 1790. 
 
 THE British Directory for 1790, gives under Durham, William Shields, 
 Mercer, Draper, and Banker. Presumably he was the gentleman who 
 subsequently became a partner in Mowbray, Hollingsworth, & Co.. A 
 further account of him will be found under " Richardson & Mowbray." (See 
 page 3S3-) 
 
[373] 
 
 Simpson, Cbapman, S, (To. 
 
 Founded prior to 
 1785- 
 
 Partners. 
 
 Purchased by York 
 Union in 1892. 
 
 Wakefield Simpson. Thomas Simpson. John Chapman Walker. 
 
 Abel Chapman. John Chapman. Henry Simpson, jun. 
 
 Henry Simpson. Henry Simpson. Thomas Wakefield Simpson. 
 
 THIS establishment was one of the pioneers of banking in Whitby. It 
 successfully weathered the storms and panics of over a century, and when 
 these pages were commenced was still a flourishing private bank using its 
 own notes, though it has now passed over to swell the ranks of the " Joint Stocks." 
 
 :v^^,,^-,. 
 
 '' ' \lnMM^^^^^rM^ /cVM 
 
 
 sSiSii'c^r?^ 
 
 [/o^/(-'u 
 
 ^/L 
 
 J 
 
 The bank was originated by Wakefield Simpson, of Whitby, draper and grocer, 
 who "did banking business," as it was then expressed, in a small counting-house 
 "off" his shop in the Market Place. Bailey s Northern Directory for 1781, under 
 "Whitby," names no bankers, though at that time Wakefield Simpson was 
 receiving money on deposit and drawing bills on his London Agent. In 1785 he 
 
 took as his partner Abel Chapman, a 
 member of a wealthy and influential 
 Whitby family, and commenced regular 
 banking business. It is highly probable 
 that at the same time Wakefield 
 Simpson's son Henry was made a partner, as the British Directory of 1790, gives 
 Simpson, Chapman, and Simpson, bankers, Whitby. They opened their bank in 
 Grape Lane, in the same premises that are now occupied by their successors. 
 
 a/H^ 
 
[374] 
 
 Grape Lane is a very narrow thoroughfare leading off from the Bridge End 
 on the east side of the harbour. In front, the estabhshment has the appearance 
 
 of a private house. During 
 banking hours the door 
 stands open, but a "Httle 
 green gate" swings across 
 the entrance, and seems 
 to say, "No admission ex- 
 cept on business." Proceed- 
 ing along the passage, the 
 bank premises proper are 
 reached, they being in the 
 rear — light, airy, and com- 
 modious — with many win- 
 dows that overlook the 
 harbour. Here the bank 
 has flourished ever since its 
 foundation in 1785. I am 
 informed that the house was 
 formerly an old inn, known 
 by the sign of "The Grapes," 
 that it had an entrance from 
 the harbour, and duplicate 
 cellars underneath, a most 
 convenient thing in the days 
 of smuggling, for which 
 Whitby had an unenviable 
 reputation. 
 
 Wakefield Simpson died April 20th, 1806, and his executors paid on May 8th 
 of the same year the legal fine of 50/- for his being buried in linen. This mode of 
 burial was also contrary to the rules of the Society of Friends, of which body 
 Mr. Simpson was a member. 
 
 The note represented on the previous page must have been signed a very short 
 time before his death. The vignette represents the grand old abbey with the 
 great west window which fell during a gale on the 12th November, 1794. 
 
 Another guinea note before me, dated August ist, 181 1, is signed by Abel 
 Chapman. It was found in the secret drawer of an old cabinet in Pickering. It 
 
[375] 
 
 PAST PARTNERS OF THE WHITBY BANK. 
 
 Abel Chapman. 
 
 WAKEFiEiiD Simpson. 
 
 Henbt Simpson. 
 
 John Chapman. 
 
 Thomas Simpson. 
 
 Henby Simpson. 
 
 Henbt Simpson, Jun. 
 
 John Chapman WaijKeb. 
 
 Thomas W. Simpson. 
 
[_376j 
 
 was cancelled in 1884, and had probably been in its hiding-place more than 
 seventy years. 
 
 There does not appear to have been any deed of partnership between the 
 original founders (a Chancery suit in after years being the consequence), so that 
 the exact date of the changing of the members of the firm cannot be given. 
 
 On the death of Henry Simpson in 1826, his son Thomas Simpson joined the 
 firm, John Chapman, son of Abel, also becoming a partner. Thomas Simpson 
 was succeeded by his son Henry Simpson, in 1848 the firm being — Abel Chapman 
 (the founder), John Chapman (his son), and Henry Simpson (great-grandson of 
 Wakefield Simpson). Abel Chapman died in 1852 at the patriarchal age of 96, 
 having been a partner from the foundation of the bank in 1785 — a period of 67 
 years. During this time what changes must have occurred in Whitby, and in the 
 banking world generally ! 
 
 The two remaining partners, John Chapman and Henry Simpson, were the 
 only members of the firm until 1871, when John Chapman Walker (great nephew 
 of John Chapman) and Henry Simpson, jun., joined the bank. The next year John 
 Chapman died, and was followed in 1877 by Henry Simpson jun., whose place in 
 the firm was soon after taken by his brother, Thomas Wakefield Simpson. In 
 1890, John Chapman Walker retired, leaving only Henry and Thomas Wakefield 
 Simpson. Two years later, the business was consigned to the York Union Bank, 
 Mr. John Chapman Walker, one of the late partners, returning as manager. The 
 old premises were retained, but " Simpson's Bank," which had been a household 
 word in Whitby for over a century, was no more. 
 
 In 1805 their London Agents are given as Elton & Co. I do not find the 
 name amongst the London banks of that date, but possibly the firm was Elton, 
 Hammond, & Co., Wholesale Tea Dealers, 21, Milk Street. In 1816 
 Barclay & Co. had the agency, and retained it until the transfer of the bank. 
 
 Simpson, Chapman, & Co. had a considerable note issue in various 
 denominations — £\, £1 is., and £^. In 1844 the issue was fixed at ;^i4,258, 
 which was retained till the transfer, when the issue lapsed. 
 
 In the neighbourhood of Whitby the notes were alwa3^s taken with the 
 greatest confidence, and much preferred to those of the Bank of England. 
 
 A friend told me that about 1855 he went to Mrs. Wilson, Esk Inn, Bog Hall, Whitby, where he was 
 well known, and asked her to oblige him with change for a Bank of England £5 note. She replied, 
 " No 1 I'll ha' nought to do with them things, I knaw nought about them ; now if it had been a 
 ' Simpson,' I would ha' changed it with pleasure." 
 
[^77^ 
 
 The good people of Whitby were evidently proud of their bank notes, and 
 gave the name to their vessels. In January, 1827, the *' Heart of Oak " and the 
 " Bank Note," both of Whitby, were wrecked upon the Scaur, near that port. 
 
 Wakefield Simpson married a daughter of John Walker, shipowner and Quaker. 
 By this marriage he became possessed of several ships, one being the "Free Love," 
 the vessel on which Capt. Cook served his apprenticeship. 
 
 The Chapmans at one time belonged to the Society of Friends. They 
 afterwards seceded it is said, for the following reason : — As shipowners they could 
 not charter their ships for the transport of troops and stores, a lucrative business 
 during the great war, unless they carried guns on board. The early Quakers were 
 as much advocates of peace as they are now, and they resolved that the 
 Chapmans must give up their guns or the "Society" ; they apparently chose the 
 latter.* 
 
 The Chapmans, Simpsons, and Walkers have often intermarried, and have 
 been intimately connected personally and by marriage with some of the leading 
 banking families of the country. Marriages occur with the Barclays, Gurneys, 
 and Frys. Edward Henry Chapman was a director of the Bank of England. 
 
 The last head of the old bank did not long survive his retirement into private 
 life. He died at his residence, Meadowfield, Whitby, June loth, 1893, in his 
 77th year, having been born May loth, 1816. 
 
 Like many Whitby men, when young, Henry Simpson was apprenticed to the sea. In 1834 
 he was second mate of the East Indiaman " Earl of Eldon," and on this vessel he had a narrow escape 
 from death. While on a voyage from Bombay, by the Cape to London, the " Earl of Eldon " was 
 destroyed by fire. There were in all, forty-six souls on board ; they were obliged to take to the boats, 
 Mr. Simpson being in charge of one of them. They sailed for Roderigues, a distance of over 
 1,000 miles. One of the two crafts got damaged by a heavy sea, so the passengers and provisions it 
 contained were taken into the remaining boat. The occupants were literally wedged together. The 
 sufferings of all were beyond description. The heat of a tropical sun by day, cold winds by night, 
 scarcity of provisions, drenching rain, and heavy secui all added to their distress. After enduring such 
 
 ♦ The story is not at all improbable. In the Quaker burial ground at Cullercoats, was a stone to the memory 
 of the wife of Lawrence Haslem. When writing the account of this ground, I found the following incident 
 noted in the records of the Society : " Monthly Meeting 10 day 11 month 1693. Lawrence Haslem came to 
 this meeting, and friends had some discourse with him about his having Guns in his ship, and tenderly 
 admonished him of the evil consequences of it, and its inconsistency to the principles of truth, wth desire 
 that he may dwell under the weighty consideration of the matter soe as to come into the unity of ffriends in 
 his judgement and practice therein, and that ffriends who have the exercise of truth in this particular upon 
 them, may further deal with Lawrence as in ye wisdom of God they may see necessary, and give account to 
 this meeting." 
 
 Haslem was interviewed, and soon after it is recorded. "12 day 1 month 169f, Jeremiah Hunter 
 and Lawrence Weardale having spoke Lawrence Haslem about carrying Guns, does certify this Meeting that 
 he gives them an account that for the satisfaction of friends he has sold bis Gans and is to deliver them 
 very shortly." 
 
 V* 
 
[3781 
 
 hardships thirteen days, they reached land. It is remarkable that not a life was lost, although amongst 
 the number were three ladies, one of whom had a young baby. An account of their voyage was 
 subsequently written by Major Hart, one of the passengers. From the hardships he endured then, 
 Mr. Simpson's eyesight became impaired. He left the sea, and a place was found for him in the 
 old bank. 
 
 Simpeon, Sanberson, ^ai^Ioreon, (Brainier, &Co. 
 
 COMMERCIAL BANK. 
 
 Founded 1796. 
 
 Partners. 
 
 Stoftesle^. 
 
 Wound up in 1802. 
 
 Thomas Simpson. John Sanderson. 
 
 William Taylorson. Joseph Grainger. 
 
 AN advertisement in a Yorkshire paper announces : — " The Commercial 
 £^^ Bank, Stokesley, opened this day under the firm of Thomas Simpson, 
 John Sanderson, William Taylorson, Joseph Grainger, & Co. Stokesley, 
 November loth, 1796." 
 
 Before me is a five guinea note dated from Stokesley, 4th day of November, 
 1796 (a few days before the opening), and is signed— " For Thomas Simpson, 
 William Taylorson, John Sanderson, Joseph Grainger, & Co. Thos. Simpson." 
 
 From this date until their failure six years afterwards (June 5th, 1802), I have 
 no record of their proceedings. Their affairs were then in the hands of Mr. Clarke 
 of Stockton, who wound up the estate. 
 
[379] 
 
 Sfiinner, att^, d Ibolt stocftton. 
 
 COMMERCIAL BANK. 
 Founded 1815. Purchased by Nat. Prov. 
 
 Partners. Bank of England, 1836. 
 
 William Skinner. William Skinner, j'un. 
 
 — Atty. John Holt Skinner. 
 
 William Holt. 
 
 THE failure of Messrs. Lumley & Co. in July, 18 15, left Stockton with only 
 one bank (Messrs. Hutchinson and Place), and notwithstanding the fact 
 that two other banks in the county had collapsed almost at the same time, 
 gentlemen of position were still to be found who were willing to risk their fortunes 
 in the precarious business of banking. On October 2nd of this fatal year, " The 
 Commercial Bank of Stockton " was announced to take the place of the down- 
 fallen " Stockton and Cleveland Bank ; " Messrs. Skinner, Atty, and Holt being the 
 proprietors. A branch was subsequently opened at Darlington, and another at 
 Barnard Castle. 
 
 The general panic of 1825 tried the resources of the bank to the utmost. A 
 newspaper of the day announces : — 
 
 " The establishment of Messrs. Skinner & Co, of Stockton and Darlington Commercial Bank at 
 Darlington, suspended its pajTnents on Tuesday last (Dec. 13th), but resumed them again on Thursday 
 morning, and confidence with regard to the firm was completely established." 
 
 It appears that payment never ceased at the head office, for on Wednesday 
 morning — 
 
 " a number of persons apparently of the description of those who might be supposed to hold a solitary 
 note assembled at the door of Messrs. Skinner's Bank at Stockton. The confused group continued 
 there until a little after three o'clock, at which time a post chaise, drawn by four horses, arrived from 
 London with a supply of cash. The gentlemen inside the chaise were immediately cheered by the 
 populace, who in less than half an hour departed, perfectly satisfied with the honourable proceedings 
 and stability of Messrs. Skinner & Co." 
 
 At this time very great excitement prevailed in London, and on Sunday, 
 December i ith, an unusual sight was seen in Lombard Street, many of the banks 
 being open, with post-chaises at their doors ready to carry specie for the eager 
 excited country bankers, who were fortunate enough to obtain it from their 
 London agents. 
 
 The post-chaise that dashed up at such an opportune moment for the 
 Stocktonians, left London early on Monday morning as soon as the bank opened. 
 
[380] 
 
 A manifesto was issued by the Stockton people that would greatly help to allay 
 the excitement. 
 
 " CoMMEBCiAL Bank. — We, the undersigned Merchants, Tradesmen, and others, being highly pleased 
 with the handsome manner in which Messrs. William Skinner and Co. have met the sudden and heavy 
 demands upon them, and being fully satisfied with their stability and resources, will gladly take their 
 NOTES AS USUAL." The list has about 130 signatures attached. 
 
 In 1827 the Darlington establishment was on the High Row ; the firm also 
 had branches at Barnard Castle, Yarm, and Stokesley. A considerable business 
 appears to have been done. 
 
 Doubtless the numerous panics that swept the North of England from time to 
 time, would affect Messrs. Skinner as well as other bankers. It is stated that on one 
 occasion, a run upon their Darlington branch was checked by the action of Mr. 
 Pease, who we are told, went behind the counter of Messrs. Skinner & Co., and 
 wrote the following in a book lying on the table : — 
 
 " Edward Pease & Co. keep their account at this Bank, and are so satisfied of its solvency that they 
 hereby engage to indemnify creditors of the Bank to the extent of ten thousand pounds." 
 
 This promise stayed the withdrawal of deposits and the presentation of notes. 
 It is said that Messrs. Skinner never forgot their obligation. 
 
 Soon after the introduction of joint stock banks, Messrs. Skinner & Co. 
 transferred their business to one of these establishments. The National Provincial 
 Bank of England was founded in 1833, and the promoters were anxious to open 
 branches all over the country. Overtures were made to Messrs. Skinner & Co. for 
 the disposal of their business, and on August 23rd, 1836, it was announced that 
 the National Provincial Bank had succeeded to the business of the Commercial 
 Bank, that branches would be opened at Stockton and Darhngton, and that they 
 would be under the management of Mr. Wm. Skinner, jun. 
 
 The Skinner family originally belonged to Whitby, but became connected 
 with Stockton through marriage into the family of the late Richard Walker of that 
 place. Amongst other businesses they were connected with the whale fishing. 
 They owned the " William and Anne," and some of the voyages this vessel made 
 were most successful. In 1808 she returned with twenty-five fish, which produced 
 209 tons of oil. The Skinners were shipowners at Whitby for some years after 
 they opened the bank at Stockton. 
 
 In 1762, John and William Skinner purchased the Ferndale Fields at Whitby, 
 from Commodore Hayes, and soon after commenced the handsome street that leads 
 to the West Cliff, which bears the name of " Skinner Street." William Skinner, 
 jun., married at Stockton, April 23rd, 1825, Mary, daughter of the late James 
 
[J^ 
 
 Walker, Alderman of that Corporation. The families were further connected by the 
 marriage of Richard Walker of Stockton with Mary, second daughter of William 
 Skinner, formerly of Whitby, July 19th, 1827. 
 
 In reference to the timely arrival of gold from London in 1825, I received 
 an interesting letter from Mrs. Skinner of Moray House, Ryde, Isle of Wight, 
 dated January 25th, 1894, from which I extract the following: — 
 
 " I have just been reading your manuscript to my dear husband and he is immensely interested in it. 
 He well recollects that exciting drive to London in the post chaise and four, accompanied by Mr. 
 Wilson (Radcliffe Wilson, I think), solicitor to the Bank, each one armed with a pair of loaded pistols, 
 for highway robbery was no uncommon thing in those days, and a coach returning with specie from 
 the Bank was very liable to be attacked, but the good hand of his God was over him then as it has been 
 on very many other occasions. He believes it was early on Monday morning that he reached the 
 London Bank, and that he and Mr. Wilson were the first to drive away from it. Majiy a time has he 
 told the exciting story with great animation and sparkling eyes to my nephews and nieces. He loves 
 to tell of the whale fishery too. We have a picture of the " William and Anne," the " Armwell," and 
 the " Lively." His father, with others, had shares in them. He will give you his autograph." 
 
 /; ^ /p /^AX^ • ^^ ^^ exceptional to get a personal 
 
 ( y^Jz^At. ^^:T& ^/a,^<-n£^ ~> narrative of an incident that hap- 
 
 ^ pened in 1825, now very nearly 
 seventy years since.* 
 
 The Atty family appear to have belonged to Whitby also. In 1803, Mr. 
 Atty was venturing in the whale fishery, but his vessel does not appear to have 
 had much success. In other shipping interests they were much more prosperous ; 
 being large transport owners, their vessels proved very remunerative during the 
 time of the wars in the early part of the present century. 
 
 The Stockton bankers were much interested in municipal matters, as has been 
 shown in the review of the two former Stockton banks. Messrs. Skinner were no 
 exception. William Skinner, sen., was Mayor in 1820, and William Skinner, jun., 
 was elected Mayor in 1825 and 1826. 
 
 It was during his term of office that Wellington " the great Captain of the age " visited Stockton, on 
 September 24th, 1827. The town was en fete; " Welcome to the Hero of Waterloo " was the motto of 
 the day. " The Assembly Room in which refreshments were served up, was elegantly decorated. At 
 
 ♦ A correspondent sends the fcllovring :— " The Skinners owned or held shares in the following ships :— 1752— 
 'Briton,' 1781 to 1806— ' William and Anne,' 1782— ' Eliza,' 1786— ' Lorrel," 1788 to 1793— ' London,' 1789— 'Delilus, 
 1794—' Cerez.' It was the custom for the ship apprentices to live in the house of the owners, and Mr. Skinner had 
 them as guests when the ships were laid up for the winter. When not engaged on board they did house work, 
 including the nursing of the children, of whom there were fourteen. . . . This information of the ownership 
 of the vessels is gathered from what remains of the Whitby Poorhouse accounts for the delivery of oakum, 
 which happens to be the only available record of ships, those of Whitby Custom House, up to the year 1811, 
 sharing the fate of other ports in the fire of the London Custom House about 1832. It is related of Thomas 
 Dove, carpenter of the " Eliza," that on boring a treenail hole he discovered a massive over-glove ring with a 
 miniature portrait of the Dauphin of France. It was supposed to have been hidden away by some refugee 
 passenger from France." 
 
[382j 
 
 the higher end of it, was a beautiful canopy of crimson and yellow cloth, raised on a platform. Under 
 this sat the chairman, the Mayor of Stockton (Wm. Skinner, jun., Esq.), having on his right hand the 
 Duke of Wellington, the Marchioness of Londonderry, &c., &c." 
 
 On December 26th, 1835, the first election under the new Municipal Act took 
 place, when Mr. Skinner, sen., was elected a Councillor ; on the 31st he was made 
 an Alderman, and the next day, January ist, 1836, he was chosen Mayor. His 
 son, Wm. Skinner, jun., is again recorded Mayor in 1840, 1841, 1844, and 1853. 
 
 Mr. Holt was also a public man, though in a different way. When the 
 business was taken over by the Joint Stock Bank, he was made — or subsequently 
 became — district inspector for the National Provincial Bank, in whose service he 
 remained for many years. 
 
 At the formation of the Ragged Schools in 1856, he was appointed Treasurer 
 and Secretary, and he evidently took an active part in promoting the philanthropic 
 works of the town. On May 19th, 1863, 
 
 " A Tea party was held in the Borough Hall, Stockton, to bid farewell to Mr. Wm. Holt, district 
 inspector of the National Provincial Bank, who was about to leave the town for London, and to present 
 him with a testimonial of their esteem .... the cofEee pot bore the following appropriate 
 inscription : — ' Presented to William Holt, Esq., on his leaving Stockton, by 81 subscribers, as a token 
 of esteem, and of their appreciation of his services in connection with the Mechanics' Institute, British 
 School, Ragged School, Town Mission, and other kindred institutions. May 10th, 1863.' " 
 
 Mr. Holt originally came from Whitby, W'here some members of his family 
 were in the firm of Richardson and Holt, bankers {see page 22p). 
 
 ^toMon S, H)urbam County Bank. stocftton. 
 
 Established 1838. Transferred to Nat. Prov. Bank of England, 1846. 
 
 BANKING upon Joint Stock principles was not adopted at Stockton for 
 some little time after its introduction in 1825. In October, 1838, meetings 
 were held, and eventually a bank was constituted under the title of the 
 "Stockton and Durham County Bank." The capital was to be ;^i 50,000 in 
 shares of £20. The prospectus stated : — 
 
 " The opening out of various railways and branches, the increase of the exports of the port, and of the 
 trade generally in the district, hold out favourable prospects for the establishing of such an undertaking, 
 the increase of productive industry requiring a corresponding augmentation of banking facilities, and 
 experience has shown that these facilities can be best secured by the joint stock banking system." 
 
 A provisional committee was appointed, and in a short time the requisite 
 capital was secured. 
 
[ 383 ] 
 
 When we consider the loss and inconvenience that the Stocktonians had been 
 put to from time to time by the numerous failures of their private banks, it is not 
 surprising that they were anxious to try the new and popular Joint Stock principle ; 
 but experience taught them that no kind of banking business was a bed of roses. 
 By June, 1846 — eight years from its opening — the County Bank had lost about 
 ;^9o,ooo of its original capital, and the shareholders were then willing to transfer 
 the remainder of their connection to the National Provincial Bank of England, 
 which in 1836 had acquired the business of Messrs. Skinner & Co. 
 
 The bank had a note issue, and, like many others, suffered from the loss and 
 annoyance caused by forgery — 
 
 •' In November, 1844, Matthew and James Watson, Henry Russell, and D. Buglass, were committed 
 to Durham gaol to take their trial for forging and issuing notes upon this bank. They were brought 
 up at the following assizes, when they were all found guilty. Buglass was sentenced to fifteen years' 
 transportation, and the others to twenty years. James Watson, having given evidence at the trial, 
 had his sentence remitted." 
 
 When the bank was disposed of, their note issue stood at ;^8,29o. 
 
 Sun^erlant) 3oint Stock Banl^. sun&erian&. 
 
 Established 1836. Suspended payment 1851. 
 
 THE prospectus announcing the formation of this bank was issued May 28th, 
 1836. The Capital was to be ^"200,000 in 20,000 shares of ;^io each, with 
 power to increase the capital to ;^400,ooo. The projectors stated that — 
 
 " Many influential individuals connected with the trade and commerce of Sunderland had long held 
 that there was much more profitable Banking business in that town than in many of those where 
 Joint Stock Banks had been conducted in a most successful manner ; and from the spirited, opulent, 
 and enterprising character of the inhabitants, little doubt need be entertained of its usefulness and 
 prosperity. . . . One shilling per share to be paid on application, £2 10s. per share 30 days after 
 directors are elected, and a further £2 lOs. within 60 days. The remaining £5 as the directors may 
 appoint. That the business shall be that of a deposit, loan, agency, discount, and circulating bank, 
 and shall be strictly confined to such business as is usually carried on under the term of Banking. 
 Application for shares to be made to Robert Brown, solicitor, Sunderland, Wm. L. Harle, solicitor, 
 Newcastle, W. J. Barker, sharebroker, Sunderland, J. & J. Kimpster, sharebrokers, Newcastle." 
 
 The provisional committee appointed were Andrew White (Mayor), John Miller, M.D., Alderman 
 White, Alderman Kirk, and Alderman Brown. It was announced that suitable premises were wanted 
 in High Street, and a manager also, acquainted with Banking business. A meeting of shareholders was 
 advertised for July 5th, in the Arcade, to receive the report of the Provisional Committee, and appoint 
 directors. On July 9th it is stated that premises lately occupied by Panton and Son had been 
 purchased, and that the bank would open early in August. Shareholders were informed that they 
 could "pay their call of £2 lOs. per share into the North of England Joint Stock Bank at Sunderland 
 or Newcastle. Wm. Curry, Manager." 
 
[384] 
 
 The first directors appointed were: — Andrew White (Mayor), John Miller, M.D., 
 Alderman Kirk, John Clay, and Alderman White ; managing directors — H. Panton 
 and Alderman Brown. Messrs. Thomas Brown and Hill Parker were managers 
 for some time. In 1849 Hill Parker is quoted as sole manager, and he appears to 
 have been followed by Thos. C. Squance in 1850. 
 
 Prosperity smiled upon the early days of the bank. The first report 
 announced that upwards of 12 per cent, had been earned, and a dividend of 
 10 per cent, was declared. From time to time satisfactory accounts were annually 
 rendered, even up to February, 185 1. It was then stated that a balance of 
 £1,02^ remained to be carried to the reserve fund, which would then amount to 
 ;^5,684. Soon after this very heavy losses were sustained, and in November the bank 
 stopped payment. The Newcastle Chronicle of November 28th, states : — "Vague 
 alarm instinctively runs through the public mind, and spreads as it goes ; it is best 
 to check the same by giving facts as far as possible." The deficiency was first 
 reported to be about ;^20,ooo, and as £y los. per share had been paid up, a call of 
 the remaining £2 los., it was expected, would meet the difficulty. A committee 
 was appointed to investigate the accounts, when a terrible state of things was 
 discovered. The deposits held were about ^28,000 ; four or five depositors 
 owning one-half of that amount. Some of the directors had very heavy over- 
 drafts, ;^30,ooo being the amount of one. Another director, " on his petition being 
 heard . . . was remanded for two years for having fraudulently disposed of 
 his private property so as to diminish the sum to be divided amongst the 
 creditors." 
 
 A local pen upon the occasion records : — " The managing clique of Tarhiffes, over a series of years, 
 employed the capital in their own shipping transactions — concealed those transactions from the other 
 directors and clerks — had fictitious accounts opened — closed those accounts, when the speculation 
 that originated them failed, by crediting them with cheques drawn against their previously overdrawn 
 private accounts — released each other from liabilities to the bank — made arrangements out of bank 
 funds with their creditors — manufactured, amongst themselves, accommodation paper to carry on an 
 unprofitable business — and continued this business until it broke down under the weight of helpless 
 and hopeless ruin." 
 
 Another writer remarks : — " The conduct of the directors was stated by the 
 committee appointed by the shareholders to have been reckless, deceptive, and 
 improvident to a degree almost unparalleled, and the shareholders dismissed them 
 from their office with great indignation." The liabilities of the bank were all 
 cleared off by June, 1857. 
 
 This bank never opened any branches. It circulated Bank of England notes. 
 
[385] 
 
 SurtCCB Si Burbon. -newcastle d JSerwicft. 
 
 EXCHANGE BANK. 
 
 Founded 1768. Partners at Newcastle. Failed 1803. 
 
 Aubone Surtees. Aubone Surtees, jun. jfohn Brandling. 
 
 Rowland Burdon. John Surtees. 
 
 Partners at Berwick. 
 
 The above Named with — Weatherby. John Embleton. 
 
 THE second firm that opened their doors as bankers in Newcastle were 
 Messrs. Surtees and Burdon, who traded as the " Exchange Bank." They 
 commenced business some time between January and May, 1768.* The 
 original founders were Aubone Surtees and Rowland Burdon, names calculated at 
 once to gain the confidence of the public. They had been in partnership as general 
 merchants some time prior to their commencing the bank.f 
 
 In 1772, four years after its foundation, a crisis occurred amongst the 
 London bankers, which soon spread to the provincial houses, when, to allay the 
 alarm, the notes of the Newcastle bankers were guaranteed by a number of 
 influential gentlemen {see page 2p). The difficulty was tided over, and public 
 confidence restored. The Newcastle Directory of 1778 names the Exchange Bank 
 as at the end of Silver Street, and the next Directory (1787) announces it at the 
 head of Silver Street. In the latter year they are styled Surtees, Burdon, & Co., 
 and that signature is attached to a letter written by the Committee of Bankers in 
 Newcastle, dated July 30th, 1788 {seepage 34). 
 
 ♦ This information is derived from the following interesting letter written to William Boyd, Esq., in 1829:—" Mr 
 Peters presents his compliments to Mr. Boyd, and on looking into the Account Book of his late Father as 
 Receiver for the late Henry Stephenson, Esq., for his Estates at Coxlodge, Knarsdale, Usworth, &c., which 
 began in October, 1767, he finds he sent Mr. Stephenson a Remittance by Bill drawn by Jos. Saint & Co. (the 
 Newcastle Old Bank) on Glyn and Hallif ax, 2nd January, 1768— and that the next bill for the Balance of the Account 
 was drawn 25th May, 1768, by Burdon and Surtees on Browns and Collinson, so Peters conceives that the 
 Exchange or Burdon and Surtees's Bank Establishment must have taken place at or about 4th January, 1768, 
 or between that time and 25th May following, as he recollects having heard his Father say he had Directions 
 from Mr. Stephenson to make his Remittance thro' the Medium of Burdon and Surtees's or Surtees and Burdon's 
 Banking House (Mr. Surtees being brother in law to Mr. Stephenson) after he knew that it had opened, and it 
 continued to be so remitted to Mr. Stephenson and his successors from that Period, until the Stoppage of 
 Surtees', Burdon's, and Brandling's Bank in 1803. 
 
 PHiGBiM Stbeet, lat March, ISZO." 
 
 + The Newcastle Courant of November 20th, 1756, announces :— " The Shop of Messrs. Surtees and Burdon on the 
 Side was broken into by the roof, and robbed of some silver, and a great quantity of good and bad half-pence 
 and the lid of a silver tankard. Much blood was seen in several places, supposed cut from glass in compting 
 house which was broken." 
 
 W^ 
 
U86J 
 
 Another panic occurred in 1793, and so great was the demand for gold, that 
 in April all the bankers resolved to suspend payment. A public meeting was held 
 and a committee formed to look into the affairs of the four banks. A favourable 
 report was soon made upon three (the "Commercial" dechning business), and 
 a guarantee was entered into to accept their notes. Public confidence was 
 re-established, and the banks soon after resumed cash payments. 
 
 The proprietors of the bank evidently made strenuous efforts to obtain gold, 
 and from the following record we may conclude that Mr. Burdon, one of the 
 partners, went to London for the special purpose of obtaining specie. 
 
 The Newcastle Chronicle for April 27th, 1793, states : — 
 
 " Thursday se'nnight about 1 o'clock in the morning, the chaise in which Mr. Burdon and his servant 
 were conveying specie to the Bank here was attacked at the 63 mile stone, near Bugden, by three 
 footpads, who robbed Mr. Burdon of his watch and purse, and the servant of two watches and his 
 purse, and got off without being discovered. Happily the great quantity of specie was preserved by 
 the spirited conduct of Mr. Burdon, who wounded one of the ruffians with his cutlass, the robbers 
 having first thrown out the firearms." The paper of the next week adds :- " We are informed that 
 the footpads that robbed Mr. Burdon as related in our last, are taken." 
 
 Upon May 18th " John Weltshire was brought to the Public Office, Bow Street, and charged 
 before Wm. Addington, Esq., on suspicion of having committed divers footpad and other robberies, 
 likewise by Rowland Burdon, Esq., with stopping .him on the 17th April last, and robbing him of his 
 watch and twenty-five guineas. Mr. Burdon deposed that about 2 o'clock on the 17th April last, he 
 was stopped in a postchaise by three footpads ; one of whom opened the door and presented a pistol to 
 him, threatening at the same time if he did not deliver immediately he would blow his brains out. 
 Mr. Burdon immediately drew a cutlass and levelled a blow at the robber whom he believes to be the 
 prisoner, which missed him ; he immediately jumped into the chaise, and after having pinioned down 
 his arms, rifled his pockets of all the property he had about him, viz., twenty-five guineas and a gold 
 watch. His servant was dragged out of the opposite door by the prisoner's companions. Mr. Burdon 
 was bound over to prosecute, and the prisoner was on this charge fully committed for trial."* 
 
 Rumours respecting the stability of Messrs. Smith, Payne, and Smith, ot 
 London, were evidently in circulation, for on April i8th, the following announcement 
 was made : — ■ 
 
 " False reports injurious to the House of Messrs. Smith, Payne, and Smith, and its connection, having 
 been circulated in this neighbourhood, Surtees, Burdon, & Co. think it their duty to declare that they 
 are without foundation. Surtees, Burdon, & Co. continue to draw on that House as usual. — 
 Newcastle, April 18th, 1793." 
 
 By 1795 the Exchange Bank had removed to the newly-formed Mosley 
 Street. In 1797 another monetary panic occurred in the town, when the notes of 
 the bank were again supported by the townspeople. 
 
 * Bugden appears to have been a notorious place, as a York paper announces :— " 1794, November 2nd (Sunday).— 
 As Richard Lee, Esq., and his son were on their way in a post chaise from Leeds to London, they were 
 stopped near Bugden by three highwaymen, who robbed them of their watches and a small sum of money ; 
 but, very much to the satisfaction of the gentlemen, they did not search the carriage, or they would have 
 got upwards of three thousand guineas in light gold, which, together with bank notes to a considerable 
 amount, were concealed therein." 
 
[387] 
 
 On March loth, 1788, a branch was established at Berwick, the partners being 
 the Newcastle firm with local additions. The first partners were announced as 
 Surtees, Burdon, Weatherby, & Co, ; they were soon after styled Surtees, Burdon, 
 Embleton, & Co. A Berwick writer referring to the bank, says : — • 
 
 " Business is transacted here to a great amount, and in justice to the institution, it is but fair to state 
 that its matters are conducted in such a liberal and accommodating manner as reflects great honour 
 on the bank in general, but in particular upon Mr. Embleton, one of the partners who has the 
 immediate direction and management of it. The advantages which result to this to^vn and the 
 neighbouring county from this institution are exceedingly great, and they are so universally known as 
 renders it unnecessary to expatiate upon them here." 
 
 The firm issued notes of various denominations. An early example is here 
 shown. At Berwick they circulated notes for one guinea ; No. A. 482, dated 
 May 9th, 1799, is signed, "For Surtees, Burdon, and Embleton — John Embleton." 
 
 
 
 ■; ';^f:^.:z^i^r '^''^■^ f ^^^^^ 
 
 In 1800, September 30th, Aubone Surtees died at Benwell in his ninetieth year. 
 Soon afterwards, the firm was reconstituted, the two sons of the deceased partner — 
 Aubone and John Surtees — and John Brandling joining the firm. In 1801 they 
 are named as " Surtees, Burdon, Surtees, and Brandling." A note of theirs dated 
 January 3rd, 1802, is signed, " For Surtees's Burdon and Brandling — John Surtees. 
 Ent. Jno. F. Challoner." 
 
 The following year was one of great commercial excitement ; another run was 
 made upon the banks, and on June 30th, 1803, the firm issued the following notice : — 
 
 '• Messrs, Surtees's, Burdon, and Brandling respectfully inform the Public that they find themselves 
 
[3^ 
 
 obliged to request the Indulgence of the Holders of their Notes and Securities, for a short Period, for 
 the purpose of making effectual Arrangements for the Discharge of the Demands upon them, of which 
 due Notice will be given." 
 
 On the same day a public meeting was held in Newcastle, and the notes of 
 three of the banks guaranteed, but this time Messrs. Surtees's, Burdon, and 
 Brandling were omitted from the list. On July 29th, 1803, a further announcement 
 was made, in which they declined business but fully hoped to meet all their 
 engagements. 
 
 " The Proprietors of the Exchange Bank, at Newcastle, under the Firm of Surtees's, Burdon, and 
 Brandling, and of the Bank at Berwick-upon-Tweed, under the Firm of Surtees's, Burdon, Brandling, 
 and Embleton, having determined to decline entirely the Business of Banking, beg Leave to assure 
 the Public, whose Forbearance they have taken the Liberty respectfully to request, that they are 
 about to lay their Accounts before Gentlemen of the first Respectability, who, they are satisfied, will 
 soon be enabled to give a correct and satisfactory Statement of their Affairs to the Creditors at large. 
 
 Independently of the various Securities, Bills, &c., belonging to their Banks at Newcastle and 
 Berwick, the respective Partners have very ample Property, equal to more than the Liquidation of 
 the Debts of the two Establishments, of which the Circulation in Promissory Notes to Bearer will be 
 found much less than has been generally represented. 
 
 Persons therefore holding the Notes of the said Banks are respectfully requested upon no 
 Account to part with them for less than their full value. — July 15, 1803. 
 
 Messrs. Surtees's, Burdon, and Brandling, and Messrs. Surtees's, Burdon, Brandling, and 
 Embleton, anxious to prevent Loss to the Holders of their Notes and other Bank Debts, from the 
 Suspension of their Payments, engage to allow legal Interest on all such Notes and Debts, from the 
 1st of July inst. to the Time of giving Notice for their Discharge. — 29th July, 1803." 
 
 A notice was issued, dated August 5th, 1803, in which the firm say : — 
 
 " That they have committed the Arrangement of their Affairs into the Hands of the Gentlemen 
 mentioned below, in whose Honor and Knowledge of Business they repose, and they trust their 
 Creditors will repose, the utmost confidence, and who for the more complete Security of the Creditors, 
 will immediately be invested with all their Partnership Effects, and as ample a proportion of their 
 separate Property as may appear to be requisite to effect the perfect and speedy Liquidation of their 
 Engagements to the Public. 
 
 Being anxious to prevent Loss to the Holders of their Notes and other Bank Debts, from the 
 Suspension of their Payments, Messrs. Surtees's, Burdon, and Brandling, and Messrs. Surtees's, Burdon, 
 Brandling, and Embleton, engage to allow legal Interest on all such Notes and Debts, from the 1st 
 July to the Time of giving Notice for their Discharge. 
 
 CHARLES JOHN BRANDLING, Esq., of Gosforth House; WILLIAM ORD, Esq., of 
 Fenham ; WALTER TREVELYAN, Esq., of Netherwitton ; WILLIAM GRIEVE, Esq., of Ord 
 House; WILLIAM RUSSELL, Esq., of Brancepeth Castle; THOMAS HARRISON, Esq., of 
 Whitehaven; THOMAS EMERSON HEADLAM, Esq., of Gateshead; Mr. WILLIAM BERRY, 
 Mb. GEORGE RIDDELL, of Berwick-upon-Tweed; and NATHANIEL CLAYTON, ANTHONY 
 HOOD, JOHN GRAHAM CLARKE, ROBERT RANKIN, and WILLIAM LLOYD, Esqes., of 
 Newcastle-upon-Tyne. Aiigzist 5th, 1803." 
 
[^89j ^___ 
 
 Aubone and John Surtees appear to have been part proprietors of the Tyne 
 Iron Company. This partnership was dissolved October 4th, 1803. 
 
 "Newcastle upon-Tyne, 4th October, 1803. 
 Notice is hereby given that the Partnership between Aubone Surtees, John Surtees, Richard Fishwick, 
 John Gibson, and Peter John Bulmer, carrying on the Business of Iron-Masters at Lemington, in the 
 County of Northumberland, under the Firm of the Tyne Iron Company, was this Day dissolved by the 
 mutual consent of all the parties. All debts due to the said Tyne Iron Company are requested to be 
 paid to the said Peter John Bulmer, who has undertaken to liquidate all Debts due from the said 
 Company ; and the Business will be carried on as usual by the said Peter John Bulmer." 
 
 On November 3rd the following announcement regarding the winding-up of 
 the bank was made : — 
 
 " The Gentlemen who form the Committee for the Management of the Affairs of Surtees's, Burdon, and 
 Brandling, and also of Surtees's, Burdon, Brandling, and Embleton, being anxious to wind up the 
 extensive concerns of those Houses with all proper speed, request the Debtors of those Parties to 
 liquidate their Accounts immediately, as they have already experienced much Forbearance, and as 
 they must be sensible that any further Delay on their Part will materially impede the Arrangements 
 which the Committee are earnestly pursuing for the Purpose of bringing the Affairs of those Houses to 
 a speedy Settlement. Newcastle, November 3rd, 1803." 
 
 The committee do not appear to issue a report until May ist, 1804, when 
 they say — 
 
 "That they are anxious to state to the Public the Progress they have made in the Discharge of their 
 Duty. The very large Debt to Government has been entirely provided for ; many considerable 
 Accounts with Persons holding pledged Securities have been liquidated ; and nearly two-thirds of the 
 Circulating Notes issued by these Banks have been extinguished by their having been received 
 in Discharge of Debts due to them. These Measures have brought the affairs into a much narrower 
 compass, and present to the Committee the gratifying Prospect of winding them up with full 
 Satisfaction to all the Creditors. The liberal as well as prudent Forbearance the Conamittee have 
 hitherto experienced from the Public, has been attended with most beneficial Effects ; and what 
 further Indulgence may be required, the Committee pledge themselves to use for the best Advantage 
 of the Creditors.— Newcastle, 1st of May, 1804." 
 
 On January nth, 1806, the following announcement appeared : — 
 
 " Messrs. Surtees's, Burdon, and Brandling, of Newcastle, and Messrs. Surtees's, Burdon, Brandling, and 
 Embleton, of Berwick, are sensible of the great confidence given by the Creditors to their Efforts, under 
 the Direction of their Committee, to liquidate their very extensive and complicated Concerns ; and can, 
 with great Truth and Satisfaction assure them, that much Benefit and Security will be foimd to have 
 arisen from the Forbearance already shewn. The Concerns being now relieved from a great Proportion 
 of the collateral Incumbrances, and much of the Amount of their circulating Notes on Demand being 
 extinguished by their Receipt in Payment from the Debtors of the two Houses, they, under the 
 Direction of their Committee, in order to ascertain with Accuracy the Debts of every Description, and 
 especially those due on Circulating Notes, respectfully and earnestly request that all the Creditors of 
 the two Houses, will immediately send, under Cover, to Rowland Burdon, Esq., Newcastle-on-Tyne, a 
 full and accurate Statement of their Demands, of whatever Kind, on the said Houses, distinguishing 
 each Firm, with a particular Specification of the Dates and Numbers of the Circulating Notes which 
 they hold.— January 2nd, 1806." 
 
[390] 
 
 Difficulties seemed to increase, and on April 4th, general meetings of the 
 creditors were advertised to be held in Newcastle and Berwick, on April i8th 
 and 22nd. After the meetings, the following announcements were made : — 
 
 "April ISth, 1806. 
 At a Meeting of the Creditors of Messrs. Surtees's, Burdon, and Brandling, held this day at Loftus's 
 Long Room, in Newcastle-upon-Tyne, 
 
 Resolved, — That a Committee of the Creditors be appointed to confer with the present Committee, 
 and to investigate the State of the Affairs of Surtees's, Burdon, and Brandling. 
 
 That such Committee do consist of the following Gentlemen, viz., Sir John E. Swinburne, Bart., 
 Mr. 0. Blackett, Mr. Pearson, Mr. Pybus, Mr. John Goodchild, jun., Mr. W. Clarke of Wall's End, 
 Mr. A. Mowbray, Mr. James Porster of Carlisle, and Mr. Wm. Batson ; and that any two of them shall 
 be a Quorum. 
 
 That the Committee be requested to lay a Statement, as soon as conveniently may be, of the 
 Affairs of the House of Messrs. Surtees's, Burdon, and Brandling, before a General Meeting of the 
 Creditors, to be called by the Committee by Public Advertisement for that Purpose, and at the same 
 time to state their Opinion as to the most eligible Plan to be pursued in future for the final Adjustment 
 of the Concerns of that House. 
 
 At a very numerous Meeting of the Creditors of Messrs. Surtees, Burdon, Brandling, and 
 Embleton, held this day at Geo. Dixon's, King's Arms, in Berwick-upon-Tweed, the Resolutions 
 entered into at a Meeting of the Creditors of Messrs. Surtees, Burdon, and Brandling, held the 18th 
 instant, at Newcastle-upon-Tyne, were read ; and it was resolved to concur in the Appointment of the 
 same Gentlemen as a Committee, to investigate also the Affairs of Surtees, Burdon, Brandling, and 
 Embleton, and to request them to lay a Statement, as soon as conveniently may be, of the Affairs of the 
 House of Messrs. Surtees, Burdon, Brandling, and Embleton, before a General Meeting of the Creditors, 
 to be called by the Committee by Advertisement for that Purpose, and at the same Time to state their 
 Opinion as to the most eligible Plan to be pursued in future for the final Adjustment of the Concerns 
 of that House. 
 
 That Mr. John Bailey of Chillingham Castle ; Mr. John Carr of Ford ; Mr. Robert Dick of 
 Coldstream ; Mr. James Bell of Woodside ; be added on the part of this Meeting to the Committee at 
 Newcastle. 
 
 That the Thanks of this Meeting be given to the Gentlemen who compose the original Committee 
 at Berwick. ii2nd April, 1806." 
 
 Another meeting of creditors was called for May 15th, in Loftus's Long Room, 
 Newcastle, by the committee, " when a statement of the affairs of the house will 
 be laid before them." Signed, "John E. Swinburne, chairman." Evidently it was 
 impossible for the committee to carry matters through, and eventually, on June 
 6th, Aubone Surtees, John Surtees, Rowland Burdon, and John Embleton, " by 
 Indentures of Lease and Release and Assignment, . . . conveyed and assigned 
 all their joint and separate Estates and Effects unto Joseph Bulmer, William 
 Clark, and Arthur Mowbray, iip07i Trust, to sell the same and distribute the 
 proceeds amongst the joint and separate creditors who shall execute the said 
 Trust Deed, within Six Calendar Months from the Date thereof." 
 
[391] 
 
 It would appear that this arrangement did not satisfy some creditors, as in the 
 Newcastle Chronicle of July 26th, 1806, a notice is inserted that — 
 
 " Aubone Surtees, John Surtees, Rowland Burdon, John Brandling, and John Embleton, having been 
 declared Bankrupts, they are required to surrender themselves to the Commissioners on the 7th, 8th, 
 and 23rd Days of August, at the House of "William Loftus, Turk's Head, Newcastle, to make a full 
 Discovery and Disclosure of their Estates and Effects." Assignees are appointed, and all persons 
 indebted to the Bankrupts are to communicate with Mr. Joseph Bainbridge, Solicitor, Newcastle, 
 
 On January 15th, 1807, the creditors assemble to consider — 
 
 " The disposal of several Sums of Money secured to Mr. Burdon upon the Tolls of Wearmouth-Bridge, 
 Norton-Road, leading from Bishop-Wearmouth to Norton, and the Road leading from Wearmouth- 
 Bridge to Gateshead, with the Branch to South Shields " or to their applying to Parliament for Leave 
 to dispose "of all or part by Tontine or Lottery" or such other way as shall be advised, also the 
 Interest in a Ropery, called the Patent Ropery, in Bishopwearmouth, carried on under the Firm of 
 " Webster, Grimshaw, and Company." 
 
 Another meeting was held on September 24th, to consider certain proposals 
 made by Mr. Peter John Bulmer, to them and the creditors of the late Tyne 
 Iron Company, carried on at Lemington, Northumberland. 
 
 It would appear that the Parliamentary powers for a Tontine were procured, 
 and it was publicly announced as follows : — 
 
 '' Alsotole disposed of by Way of TONTINE, 
 THIRTY THOUSAND POUNDS, 
 Secured, with legal interest (regularly paid), upon the Tolls arising from that elegant Cast Iron Bridge 
 across the River Wear, in the Port of Sunderland, called Wearmouth Bridge, which opens out to the 
 commercial and shipping interest, and the Public in general, a safe and convenient Road along or near 
 the Sea Shore, from Shields to Hull. 
 
 The above Sum of 30,0001. will be divided into five Classes of 6,0001., and each Class to contain 
 60 Subscribers of 751. each, and to consist of Persons of the following Ages : 
 
 The First, of Persons under the Age of 10 Years ; the Second under 20 ; the Third under 30 ; 
 the Fourth under 40 ; and the Fifth of 40 Years and upwards. 
 
 By the above Scheme every Subscriber will be entitled to an immediate interest of 61. 6s. per 
 Cent, with Benefit of SurvivorshiJ), from the Ist June next, the Day on which the Subscriptions will 
 close. Persons desirous of subscribing must signify their Intention to do so, and inclose a deposit of 
 101. upon each Share, in Letters, Post paid, addressed to Mr Thomas Crawhall, Newcastle upon Tyne. 
 
 Printed Particulars of the Tontine Scheme, may be had of Wm Atkinson, Esq. No. 58, Chancery 
 Lane, London ; James Porster, Esq. Banker, Carlisle ; Patrick Dickson, Esq. Berwick ; Robert 
 Dick, Esq. Coldstream ; R. Strachan, Esq. Writer to the Signet, Edinburgh ; or Joseph Bainbridge, 
 Solicitor, Newcastle." 
 
 Applications to join the tontine not coming forward in a satisfactory manner, 
 the scheme was eventually abandoned, and a plan started for disposing of the 
 interest in the property by lottery. 
 
 " This could not be done, however, without the aid and authority of Parliament, and so an Act was 
 obtained in the year 1814. The commissioners named in the Act were Arthur Mowbray, of Durham ; 
 Joseph Bulmer, of South Shields ; Christopher Blackett, John Chapman, Matthew Atkinson, all of 
 Newcastle ; James Forster, of Carlisle, banker ; John Molineux, of Newcastle ; Geo. Riddell and 
 Robert Dick, both of Berwick. The Act stands in the statute-book among the local and personal Acts 
 as 54 Geo. III., cap. 117. 
 
[392] 
 
 A copy of a hand bill issued at the time is shown :- 
 
 CONTAINS 
 
 150 CAPITAL PRIZES, 
 
 Secured by Act of Parliament on the Roads, Fereies, & Tolls, of the 
 
 NOBLE BlUDGE AT 
 
 SUNDERLAND, 
 
 The GRAND ARCH of which being 236 Feet wide, and 100 Feet high, admits the 
 largest Vessels to pass under with all Sails set. 
 
 SCHEME. 
 I of ^5,000 is ^5,000 
 
 1 3,000 3,000 
 
 1 2,000 2,000 
 
 1 1,000 1,000 
 
 6 500 3,000 
 
 20 200 4,000 
 
 120 100 12,000 
 
 6,000 Tickets. 
 
 ;^30,000 
 
 THE PRIZES 
 
 Will be paid in Debentures of £100 
 each, similar to Exchequer Bills 
 or East India Bonds, bearing an 
 Interest of 5 per cent, per Annum ; 
 and, in addition to the Principal, the 
 first Half- Year's Dividend of 
 SEVEN HUNDRED AND FIFTY 
 POUNDS, 
 
 IN MONEY, 
 
 will be due, and paid the fortunate 
 Adventurers in London, directly after 
 the Drawing, which will be before the 
 Commissioners of the Lottery, 
 
 31st October, 1816. 
 
 Present Price— Ticket £7 14 
 Half ..£3 19 6 I Eighth ..£1 1 
 Quarter 2 6 | Sixteenth 11 
 
 The Trustees appointed by) SIR MATTHEW WHITE RIDLEY, Bart., M.P. 
 
 the Act 54 Geo. III. are [ CUTHBERT ELLISON, Esq M.P. 
 
 TICKETS and SHARES are Selling by 
 
 Mr. W. HEATON, 
 
 NEWCASTLE, 
 
 Agent to J. SIVEWRIGHT, the Contractor, London. 
 
[393] 
 
 Sir Matthew White Ridley and Cuthbert Ellison, Esq., were appointed trustees for the assignees 
 in the first place, and for the fortunate ticket-holders in the second place ; their trustee-ship to be 
 terminated only on the terms of the Act having been complied with. The drawing, which took place 
 previous to the first day of December, 1816, was regulated in like manner as the State Lotteries then 
 common. Medals were given to every one of the six thousand subscribers, containing a view of the 
 bridge on one side and a description of it on the other ; and the parties who obtained prizes received 
 debentures bearing interest at 5 per cent. The debentures were paid off as the Commissioners obtained 
 funds from the bridge and ferry tolls, and in the manner prescribed by the Act. The last of them was 
 duly cancelled in the year 1846 or shortly afterwards." 
 
 One of the lottery tickets is shown below :— 
 
 
 '' Lti'' 'j~.''/ "*•'/' 
 
 /• /HI ll/t 
 
 // /<• i//Jjj/i'.u i//i-)/af/i 
 
 
 A Meeting was held September loth, 1811, at the Turk's Head, Newcastle, 
 for the purpose of considering a dividend. The liabilities of the firm were 
 very considerable. 
 
 The debts proved were : — 
 
 £ s. d. 
 
 Agsunst the Estate of Aubone Surtees 75,288 5 7 
 
 „ „ John Surtees 73,841 13 4 
 
 „ „ Rowland Burden 85,368 8 10 
 
 ,1 n John Brandling . . . . . . . . , . . . 127 3 
 
 „ „ John Embleton . . . . .... 
 
 £234,625 8 
 These debts were paid in full. __^.^_^___ 
 
 Proved against the Exchange Bank — 
 
 No. of Creditors 2,425 . . . . £353,479 6 6 Ist Dividend £95,732 15 1 
 
 2nd „ 35,344 18 4 
 
 3rd „ 14,725 17 1 
 
 £145,803 10 6 
 
[394] 
 
 Proved against the Berwick Bank 
 No. of Creditors 895 
 
 c — 
 
 
 £ 8. d. 
 
 . . £91,253 
 
 1 5 1st Dividend 
 
 5,703 10 9 
 
 
 2nd 
 
 9,125 6 1 
 
 
 3rd 
 Debts Proved. 
 
 3,802 4 2 
 
 
 £18,631 1 
 
 )F Ceeditors. 
 
 Debts Paid. 
 
 
 £ B. d. 
 
 £ s. d. 
 
 .. 
 
 234,625 8 
 
 234,625 8 
 
 2,425 
 
 353,479 6 6 
 
 145,803 10 6 
 
 895 
 
 91,253 15 
 
 18,631 1 
 
 3,320 
 
 £679,357 15 11 
 
 £399,059 19 6 
 
 Against Private Estates 
 Exchange Bank 
 Berwick Bank . . 
 
 Important sales by auction were held of the various valuable properties owned 
 by the several partners. The particulars and conditions of sale of some of these 
 are to hand. 
 
 " Particulars of Mr. John Surtees' interest under the settlement made previous to his marriage with 
 his present wife, dated 6th July, 1798, which will be sold by Auction by order of the Assignees of 
 Aubone Surtees, John Surtees, Eowland Burdon, John Brandling, and John Embleton. In one Lot at 
 the house of Mr. William Loftus, the Turk's Head, in Newcastle-upon-Tyne, on Thursday, the 30th 
 July, 1807, between 11 and 1, on the same day, subject to conditions of Sale." 
 
 It then recites the marriage settlement between John Surtees, Sarah Lewis 
 (now Mrs. Surtees), Villiers William Villiers of Lansdown Place, Bath, and 
 Wilham Surtees of Greencroft, the interest being in ^2,154 5s. 5 per cent. Bank 
 Annuities, and ;^2,333 6s. 8d. 3 per cent, reduced Annuities. This sum was subject 
 to an annuity of /"/o to be paid to Frances Cotterell of Reading. The document 
 is too long to reproduce. It is followed by " Observations," and " Conditions of 
 Sale." 
 
 In the same manner was advertised Mr. Rowland Burdon's interest in the 
 Property of the late General Richard Matthews, under the settlement made 
 previous to his marriage with his present wife, dated 19th February, 1794. It 
 recites — 
 
 " The marriage settlement between Eowland Burdon of the first part ; Cotsford Matthews (now 
 Mrs. Burdon) then an infant of the age of 20 years and upwards, the only daughter of Richard 
 Matthews, then late a Brigadier- General in the E.I.C., deceased, of the second part ; Sir John Scott, 
 now the Et. Hon. John, Lord Eldon, . . . Charles Brandling, Esq., . . . Jeffrey Jackson, and 
 William Cook, Esqrs., ... of the other part ; . . . interested in the sum of £41,682 12s. 9d. 
 bank 4 per cent, annuities. . . . To be sold by Auction, Thursday, February 8th, 1809." 
 
 Also Mr. John Brandling's interest in the estates of his late Father in the Counties of 
 Northumberland, Durham, and York. It includes property and various interests in collieries, ballast- 
 shore, &c., &o., at Felling, Heworth, Jarrow, Jesmond, and North and South Gosforth, the manor of 
 Middleton, Co. York, also Middleton Hall. Also property at Woodhouse Hill, Hunslet, in the parish 
 of Leeds, and many other places. To be sold 8th February, 1809. 
 
[395] 
 
 Further, " Mr. Aubone Surtees' Life and Contingent interest in the sum of £3,836 8s. stock in 
 the 3 per cent. Consols, and £423 8s. lOd. South Sea Annuities, and also in one-tenth part of a 
 Valuable estate at Fenton. All that the manor or lordship or reputed manor or lordship of Fenton, 
 and all that town, township, village, or hamlet, of Fenton," &c., &c. A long and interesting account 
 of the property is given. To be sold February 8th, 1809. 
 
 A final dividend of 8d. in the £ was paid in 1832, making in all 8/1 in the £ 
 on the Newcastle debts. Such a realisation was e\adently unexpected ; many 
 tradespeople after the stoppage anticipating full value for their notes. One 
 enterprising individual — John Potts Halbert — " in the Woollen-Drapery Business, 
 and also in the Linen-Drapery, at his shop opposite (late Messrs. Hall and Kent's), 
 Dean Street," heads his advertisement with the enticing announcement that 
 Messrs. Surtees, Burdon, and Brandling's Notes will be taken as usual for goods. 
 
 The notice (on the following page) of a Sale of Notes by Auction probably 
 contains more hidden meaning than we can now fathom. 
 
 From a number of paid vouchers before me, it appears that in 1790, Messrs. 
 Surtees, Burdon, & Co. were drawing upon Messrs. Smith, Payne, & Co. In 1800 
 the drafts are upon Messrs. Barclay, Bevan, & Co. They are at various dates, 
 but forty days after date appears the most popular. Of the payees in 1802, 
 the names of Frederick Glenton, John Scott, John Backhouse, Jos. Pollard, and 
 Nathaniel Clayton appear. 
 
 AUBONE SURTEES. — Edward Surtees married at Ovingham Church, 
 April 9th, 1705, Frances, daughter and co-heir of William Aubone, Merchant and 
 Alderman of Newcastle (Mayor 1684-5), who, dying in 171 1, left three sons. 
 The third of these, Aubone, was baptised at 0\ingham, September 4th, 171 1. 
 He served his time to a boothman or corn-merchant of Newcastle, and married 
 Elizabeth, daughter of John Stephenson of Newcastle and Knaresdale. Through 
 the death of both of his brothers, he inherited the patrimonial estates near 
 Ovingham, and succeeded to the Receiver-Generalship of Land Tax in Durham 
 and Northumberland. He was a Wine Merchant in the Close, afterwards in Dean 
 Street — as "Surtees, Johnson, and Dale" — and a Timber-Merchant at Pandon 
 Gate — as "Surtees and Liddell," "Surtees and Lambert," and " Surtees and Brown." 
 In 1757, he gained the freedom of the Hostmen's Company. He was Sheriff of 
 the town 1744-5 (the year of the Young Pretender's Rebellion), Mayor 176 1-2 
 and 1 770-1. During his first mayoralty, his wife presented him with twin 
 daughters. A remarkable account of their baptism will be found in the local press 
 of that day. The party returned to the Mansion-house accompanied by bands of 
 music, and saluted with peals of bells. Mr. Surtees was elected an Alderman, 
 April 1 8th, 1 761, in the room of John Stephenson, Esq., his father-in-law. During 
 
[396] 
 
 ON THE 
 
 ' PALACE GREEN, BUEHAM, 
 
 On the 20th of May, Infknt, 
 
 A XARGE QUANTITY OF 
 
 Surtees & Burden's 
 
 NOTES, 
 
 Which for the accommodation of purchafers, will be put 
 Tip in Lots'. The money to arife from the fa^e to be applied, 
 in difcharging the esipeoces of Mr. Burdon'a Ele'6lion, nqi 
 
 toa, THE BENEFIT OF HIS CbEDITORS. 
 
 11^ ■! 1111 
 
 Zckl.^ Tfl£ Sdm of £200, in 5 and £10 NQtes. all figned'hy 
 the?1ate Aub6>ir.Surtees ; .thefe notes are fUppofed to be of confi. 
 derable value, as it isbiinagined that they are charged by his will oq 
 his real eftaie. on this acpount it i? expe^ed there will be.tuany bid-: 
 ders tbc this lot- 
 Lot II. The Cwnof£4G0 in one potAnd Notes, the grcateft part 
 orihenv (igned j^. Bc-.oon, th.-le being the prc^rty of Teveral poor 
 4i/ireffed iadividtiali who cannot wait longer foriheir money, will be put 
 Mp cheap, and fold Without Klerve. This lot is well worth the j^ttentioq 
 of purchafers.. 
 
 JLotlll. jf 5.000. confiftinff chiefly of £10 Notes, figned R. 
 BiJUDON, thofe notes are fuppofeflto be very yjtloable hcing'indorfed 
 by a Bifhop, an Earl> and alt, the EgertOniOoS of any note. ; This lot 
 will be found of mtrmfic value, an indorfement of this nature bcuig 
 equal to a bill at fight. 
 
 Lot IV. jTlO.OOO in Notes of various defcnptionsi Uje property 
 of certain dignified Clergymen : This lot, it is fuppofed, will be 
 bought in, as tlie proprietors are in no wojit qf money far LleElion 
 fuypojes. 
 
 The remainder of the Notes, o mounting to /200000, wnt Bq 
 difpofcd of in fuch lots as Ihall be agreed upon at the tipie of fale. 
 
 ^^ The fiile to begin at ten o clock, and continue till all be fold. 
 Further particulars will be known, on application to Abraham Bogg, 
 AuSioncer 
 
 gunDKlanO, I3th Af*>', 1807. 
 
 •iocsrtT. raixiUf vutiyufi 
 
[ 397 ] 
 
 his second term of office as Mayor, the Duke of Cumberland (not the victor of 
 Culloden) visited the town. After various festi\aties during the day, in the evening 
 a ball was held at the Mansion-house, when the Duke " not only danced with, 
 but paid marked attention to Miss Bessie Surtees, the Mayor's eldest daughter, 
 a most charming girl then nearly seventeen." But it is doubtful whether the 
 Mayor's civic honours, his wealth, or his fortune, would have brought such lasting 
 fame to the family, especially in the " North-countrie," as the romance which 
 followed. For within a year of the festivities referred to, one night in November, 
 1772, John Scott, a young lawyer, son of a coal-fitter who lived hard by, erected 
 a ladder to a lattice-window in the banker's house (still standing on the Sandhill, 
 Newcastle), down which the fair Bessie descended to the arms of her lover. A 
 post-chaise was in waiting, and the pair were well on to the Borders before the 
 town was ringing with the news that the banker's lovely daughter had eloped with 
 Jack Scott. At first the banker was terribly offended, and would not listen to the 
 letters begging for forgiveness that soon came from the runaways, and even treated 
 his old friend John Scott's father, with coolness. Mr. Scott chose a wiser course, 
 and offered to cover every ;^ioo that the banker would put down for his daughter 
 with another for his son. A reconciliation was soon brought about, the marriage 
 ceremony being again performed in St. Nicholas' Church. Residence in the old 
 house on the Sandhill became no longer possible, as every country yokel craned 
 his neck and opened his mouth in mute astonishment as the window was pointed 
 out to him from which the fair Bessie had escaped. Alderman Surtees removed 
 to the quiet of the White Cross, Newgate Street, and afterwards to Ben well. 
 Here he lived long enough to see the strange sequel of the run-away marriage. 
 Step by step his son-in-law rose in office till he became Solicitor-General, 
 Attorney-General, Chief Justice of the Common Pleas, and finally the Lord 
 Chancellor of England, the old banker being spared to greet his daughter as 
 Lady Eldon. He died September 30th, 1800, "the father of the Corporation," 
 and the oldest banker in the North, being then in his ninetieth year. 
 
 Those of my readers who wish to learn more particulars of the life of Lord 
 Eldon and his charming wife, I refer to the " Life of Lord Eldon," by Twiss.* 
 
 ♦ " Whether this elopement with a banker's daughter set the example I know not, but a few years afterwards 
 Lord Westmoreland followed in the wake of John Scott. The story runs that he was dining with Mr. Child, the 
 well-known London banker, and after dinner asked what course he would pursue, if he loved a girl and her father 
 would not consent to his marrying her. "Why! run away with her, to be sure," was the banker's reply. A few 
 nights afterwards Lord Westmoreland eloped with Miss Sarah Child. As soon as her flight was discovered, 
 Mr. Child gave chase. The track of the runaways was followed, and when in Cumberland, Lord Westmoreland 
 was so nearly overhauled by Mr. Child, that he stood up in his chaise, and shot dead one of the leading horses 
 of the banker's team, which enabled his Lordship to gain the border — and his bride 1 In this case the forgiveness 
 of the parent was not so easily obtained. The banker would never forgive either his daughter or her husband. 
 Mr. Child died soon afterwards, and left the whole of his immense fortune to the first daughter of the union- 
 Lady Sarah Sophia Fane, who married George Villiers, Earl of Jersey." 
 
[^98j 
 
 AUBONE SURTEES (IL), third son of Aubone Surtees (I.) Like his father 
 he entered early into municipal life. He was appointed Sheriff of Newcastle in 
 1785, having two years previously succeeded Mr. Joseph Saint in the treasurership 
 of Newcastle Infirmary. At the memorable meeting of the Council, May 13th, 
 1795 (to which I have referred in my account of James Wilkinson) he was elected 
 an Alderman, and for refusing to serve he was fined 200 marks (;^i33 6s. 8d.). The 
 same fate was also awarded to his brother John (another partner in the bank), and 
 upon the fines being enforced, all the members of the Surtees family left the 
 Corporation never to return. It is said that the failure of the bank in 1803 was 
 owing to rash speculations by the younger members of the firm. After the • 
 suspension, Aubone Surtees took refuge from arrest in the old mansion of John 
 Widdrington at Hauxley, and thence emerged only on Sundays. Until recently 
 there existed in the barred outer door a grated wicket, which was used to 
 reconnoitre strangers before admission. 
 
 Mr. Surtees married December, 1781, Mary, third daughter of Roger Altham 
 of Doctors' Commons and Islington. She died at Hauxley, July 23rd, 1810, and 
 was buried at Warkworth. The ex-banker died at Honfleur, in 1827, aged 75. 
 His son, Aubone Altham Surtees, died in Lovaine Row, Newcastle, June 30th, 
 1840. 
 
 JOHN SURTEES, sixth son of Aubone Surtees (I.), born 1757, married 
 Sarah, daughter of the Very Reverend John Lewes, M.A., Dean of Ossory, and 
 sister of Cassandra Charlotte, wife of his brother William Surtees. After the 
 failure, Mr. John Surtees retired to the Continent, and died at Chateau-le-Colinais, 
 near Dinan, Brittany, at the advanced age of 92. 
 
 The family of Surtees of Newcastle, merchants and bankers, claimed common 
 ancestry with the Durham family of the same name, of which the historian of the 
 County was a distinguished member. Memoranda for a pedigree and account of 
 the family, by Thomas Bell, the well-known antiquary, with many important 
 additions, are now in the possession of Mr. Ralph Nelson, of Bishop Auckland. 
 
 The fallen bankers never regained their old standing, but the position and power 
 of Lord Eldon proved the stepping-stone to good appointments and advantageous 
 marriages for many members of the family. We can naturally conceive that their 
 relationship to Lord and Lady Eldon was freely quoted by the Surtees family. I 
 give an amusing story illustrating it. 
 
 " By the influence of Lord Eldon, William Villiers Surtees was appointed one of the Commissioners in 
 Bankruptcy. He was so fond of quoting 'My Uncle, Lord Eldon,' 'My Aunt, Lady Eldon,' that 
 amongst ' men about town ' he went by the cognomen of ' My Uncle.' On a certain occasion, a Mr. 
 Isaacs was under examination in the Bankruptcy Court ; his answers to various questions were so 
 
L399 J 
 
 distasteful to the presiding Commissioners, of whom ' My Uncle ' was one, that they committed the 
 unfortunate bankrupt to Newgate for contempt of Court. Isaacs wai-mly remonstrated against such 
 summary proceedings. ' Sir,' said • My Uncle ' (putting on his spectacles with all the dignity of an 
 old woman going to cut her corns), ' if you are not satisfied, you can appeal to my Uncle.' ' Sir,' 
 replied the bankrupt (who naturally concluded ' My Uncle ' must mean the pawnbroker), ' I have 
 appealed to my Uncle often enough before I made my appearance here, and now you have just taken 
 my watch from me, and I have not the value of a duplicate left. Sir, you may believe me — I have 
 spouted everything.' The promptness and unaffectedness of the bankrupt overcame the gravity of the 
 Commissioners ; loud laughter followed, much to the confusion of * My Uncle,' while a • poet ' kept 
 the Bar in good humour with the following parody : — 
 
 • Who was the great Lord Chancellor, What is the theme of all I say, 
 
 Magnificent three-tailed Bashaw, And whom drag I in ev'ry way. 
 
 That made of me a Cur-si-tor ? At least five thousand times a day ? 
 
 My Uncle. My Uncle. 
 
 Who, when I was a Lawyer's clerk. And why did ' Arthurs's * throw me out — 
 
 And deeds engrossed from mom till dark. Black-balling me like any Scout ? 
 
 Appointed me an honest shark ? Why — to escape being bored about 
 
 My Uncle. My Uncle.' " 
 
 ROWLAND BURDON, justly described as "beyond all comparison, the 
 most illustrious of his race," was the only child of Rowland Burdon of Newcastle 
 and Castle Eden. He married first, Margaret, daughter of Charles Brandling of 
 Gosforth, and secondly, Cotsford, daughter of General Matthews. He was a 
 wealthy merchant as well as banker, and succeeded to his father's estates, 
 October 25th, 1786. He represented the County of Durham in three successive 
 Parliaments — 1794 to 1806 — and was Mayor of Stockton 1793-4. His charity is 
 recorded in the following quaint manner in the Newcastle Chronicle, January 9th, 
 1790: "The prisoners in Durham Gaol return their thanks to Mr. Rowland 
 Burdon for a plentiful dinner given them on Monday last — with one shilling, a 
 three-penny loaf, and a tankard of ale to each person." 
 
 It is by his pubhc works that he is best known. He conceived and carried 
 out great improvements in the turnpike roads of Sunderland and district, but 
 his boldest idea was the erection of an iron bridge across the Wear to connect 
 Bishop wearmouth and Monkwearmouth. The river was to be spanned by one arch 
 of 236 feet. The total cost of the undertaking was ^"41,000, of which ;^3o,ooo was 
 subscribed by Mr. Burdon, the sums advanced being secured by tolls with 5 per 
 cent, interest. The foundation-stone was laid September 24th, 1793. A Latin 
 inscription was put upon it composed by Tipping Brown, M.D., of which the 
 following is a translation : — 
 
 " At that time when the mad fury of French Citizens dictating acts of extreme depravity, disturbed 
 the peace of Europe with Iron War — Rowland Burdon, Esq., M.P., aiming at worthier purposes hath 
 resolved to join the steep and craggy shores of the river Wear with an Iron Bridge ; he happily laid 
 the foundation on the 24th day of September in the year of human Salvation, 1793." 
 
[400] - 
 
 After the failure of the bank, Mr. Burden's interest in the Bridge was disposed 
 of by lottery, for which an Act of Parliament was obtained. His interest in the 
 Castle Eden estates was also announced for sale, also his share in the Newcastle 
 Fire Office and Water Works, and a large pew in St. Nicholas' Church. To the 
 honour of the gentry of the county, however, they interfered to prevent the 
 alienation of Mr. Burdon's family property. A committee was formed with 
 the intention of raising a sum sufficient to present Mr. Burdon with his estates — 
 but this he stoutly declined to accept, and only as a loan would he hear of it. 
 The money was subscribed by the leading men of the county. The Bishop of 
 Durham (/"i,ooo) ; Mr. William Russell (;^i,ooo) ; Messrs. Cooke & Co., bankers, 
 Sunderland, (;^5oo) ; Messrs. Mowbray & Co., bankers, Durham, were among the 
 contributors. They were to receive 4 per cent. ; all surplus being paid to Mr. 
 Burdon. The scheme was well carried out, and in time all the money advanced 
 was repaid, and the estates handed over to Mr. Burdon. He died at Castle Eden, 
 September 17th, 1838, in his 82nd year. 
 
 JOHN BRANDLING.— In his chatty chapters upon " Men of Mark 'twixt 
 Tyne and Tweed," Mr. Welford gives some interesting accounts of the Brandhngs, 
 who appear to date their greatness, like all good citizens, from the coming of 
 William the Conqueror. First, we have '• Sir Robert Brandling, Knight, Mayor of 
 Newcastle (1531), and M.P." Then Robert Brandling, "the turbulent Squire," 
 whom the lines chosen by Mr. Welford from Shakespeare, well describe : — 
 
 " Luxurious, avaricious, false, deceitful. 
 Sullen, malicious, smacking of every sin 
 That has a name." 
 
 Then Charles John Brandling, M.P. (founder of "The Northumberland and 
 Newcastle Volunteer Cavalry"), whose brother John joined the bank of Surtees, 
 Burdon, & Co., probably from his connection with Rowland Burdon, who had 
 married his sister. 
 
 John Brandling entered into municipal life, and was for many years an 
 alderman both in the old and the reformed Corporation of Newcastle. He was 
 elected Sheriff in 1828, and Mayor in 1832. He died November 20th, 1847. His 
 brother, the Rev. Ralph Henry Brandling, was holder of the family property. 
 " To this clerical representative of the Brandlings came the misfortune of seeing 
 the estates which his family had held for 300 years pass into the hands of 
 strangers. He died in Newcastle, August 26th, 1853, at the venerable age of 
 81 years, ' the last of the long roll of Brandlings of Gosforth and Felling.' " 
 
 " Brandling for ever and Ridley for aye, 
 Brandling and Ridley carries the day ; 
 Brandling for ever and Ridley for aye, 
 There's plenty of coals on our v?aggon way." 
 
 Pitman's Song. 
 
[401] 
 
 Swalebale S, Wlenaleipbale ISanFifriG (To. iRicbmonb. 
 
 Established 1836. 
 
 THIS bank was formed in 1836, to take up the old-established business of 
 Messrs. Hutton, Other, & Co., previously recorded on page 291. The 
 first meeting of the shareholders was held at the Bolton Arms Inn, 
 Leyburn, September 26th, 1836, W. J. Anderson, Esq., in the chair, when the 
 following officers were appointed : — Directors — John Hutton of Marske Hall, 
 Christopher Other of Elm House, Robert Jaques of Easby House, William John 
 Anderson of Swinithwaite Hall, Christopher Wyvill of Burton Hall. Public 
 Officers — Messrs. Other and Anderson. Trustees — Messrs. Hutton, Jaques, and 
 Wyvill. Managers — Mr. Ware and Mr. Isaac Fisher. 
 
 The directors were duly empowered to take the premises, &c., from the old 
 bank. The deed of settlement is dated January 2nd, 1837, between the several 
 persons named of the first part, and John Hutton of Marske Hall, Christopher 
 Other of Elm House, William Ware of Leyburn, and Isaac Fisher of Richmond, 
 gentlemen, bankers and co-partners, carrying on business at Richmond, Leyburn, 
 and Bedale. 
 
 The capital was to be ;^40o,ooo, in Twenty Thousand Shares of Twenty 
 Pounds each (£2 los. per share deposit) — 
 
 •'To be distributed as follows : — Five Thousand Shares to be reserved to the said John Hutton, 
 Christopher Other, William Ware, and Isaac Fisher ; Five Thousand Shares to be appropriated to 
 their Connexions at Par, to be distributed in proportion to the value of their respective accounts. Five 
 Thousand Shares to be appropriated to Influential Parties at a Premium of Two Pounds per Share, 
 such Premium to be paid to the said John Hutton, Christopher Other, William Ware, and Isaac 
 Fisher, as a consideration to them for relinquishing their business to the Company ; and Five Thousand 
 Shares to be reserved for future distribution at such a Premium as the Directors might decide, and for 
 the general benefit of the said Company." Clause 12 in the deed of settlement says : — " That for 
 better securing secrecy, the account of each individual customer will be alone open to and regulated 
 by the said John Hutton and Christopher Other for the fixst year, and for all subsequent times the 
 same shall be alone open and regulated by two or three of the Board of Directors to be specially 
 appointed for that purpose at the Annual General Meeting of the Proprietors." 
 
 Under the new formation the old prosperity of the bank was well maintained, 
 substantial dividends being regularly paid. By 1850 the paid-up capital had 
 increased to ;^53,400, £s P^^ share having been paid. The authorised note issue 
 was ^54,372. At the Annual Meeting, January 24th, 1894, they announced, 
 "Subscribed Capital, ;^42o,ooo ; Paid-up Capital, ^"63,000 ; Surplus Fund, ;^5 1,500." 
 A dividend of j^i per share was declared, together with a bonus of 5/- per share. 
 
[402] ^^^^^^^^ 
 
 It is worthy of note that Mr. Christopher Other presided at the said meeting, 
 having been a director from the foundation of the bank in 1836, and prior to that 
 for many years partner in the old firm. The present directors are Christopher 
 Other, Coverham Abbey; James C. Winn, The Grange, Aysgarth; Charles J. 
 Burrill, Cotescue Park, Middleham ; Samuel Rowlandson, Newton Morrell, 
 Darlington ; and Gerald Walker, the Hill House, Richmond. Two of the partners 
 in the old bank became managers under the new company, namely, Mr. Isaac 
 Fisher at Richmond, and Mr. William Ware at Leyburn. Mr. Fisher retained the 
 management at Richmond until about 1854, and was succeeded by Mr. T. 
 Smurthwaite. In 1866 Mr. Christopher Other, jun., was made manager. He died 
 at Nice, February 23rd, 1875, aged ^2, and was followed by Mr. R. Roberts. Mr. 
 Ness Walker is the present manager. 
 
 S^ftes, Sir Cbrtetopber, S, Co. /iDaiton. 
 
 Founded prior to 1800. Partners. Extinct prior to 1830. 
 
 Information incomplete. 
 
 FROM Messrs. Campion's books, I gather that for a short time at the 
 commencement of the present century the above firm was in business at 
 Malton. It would undoubtedly be a branch of Sir Christopher Sykes & Co. 
 of Kingston-upon-Hull, where, in 1797, their notes were supported at a public 
 meeting held March ist.* 
 
 The Sykes family originated at Sykes Dyke, near Carlisle, in the 1 5th century, 
 when Walter of Sykes Dyke was returned amongst the gentry for the Shire of 
 Cumberland. 
 
 The Rev. Mark Sykes, rector of Roos, Co. York, was created a baronet in 
 1783, and died September of the same year. He was succeeded by his son 
 Christopher, who was born 1749, and married in 1770, Elizabeth, daughter of 
 William Tatton, Esq., of Withernshaw, Co. Chester ; she died in 1803. Sir 
 Christopher Sykes died 1801, and was succeeded by his son Mark. 
 
 ♦ There were also Sikes & Co. of Leeds, who suspended payment during the panic in the twenties, and Sikes, 
 Snaith, & Co. of London, who failed in the eventful December, 1825 ; the firm then being William and Henry 
 Sikes and Thomas WilkiQSQU. The London house was originally Boldero & Co. 
 
[4031 
 
 ^^ne l8.^cbanoe BanFitng do., X^ iRewcastie-upon-irpnc. 
 
 Announced 1865. Never formed. 
 
 THE local papers of March 28th, 1865, contained the announcement of yet 
 another bank for Newcastle, but the names of the directors were not 
 published. I give a copy of the prospectus, which was as follows : — 
 
 " Capital £200,000. In 10,000 Shares of £20 each. Deposit £1 payable on application, and £4 payable 
 on allotment, at convenient intervals. The present time is remarkably favourable for the establishment 
 of a Joint Stock Bank in Newcastle on the sound and approved basis of Limited Liability. While the 
 trade and commerce of the Tyne have been largely developed, Banking facilities have not increased in 
 the same proportion, and there is now, in fact, less accommodation for the Mercantile public than 
 existed in Newcastle and the neighbourhood a quarter of a century ago. A few influential gentlemen 
 connected with Newcastle have resolved to form a Banking Company, to be conducted on the safest 
 principles ; and reliance will be placed on local knowledge and experience in the management of its 
 business. Valuable promises of support have been tendered both by Merchants and Depositors, and it 
 is believed that a prosperous business can be speedily obtained. The Shares in a well-conducted Joint 
 Stock Bank are a safe investment for Capital, and Dividends varying from 10 to 20 per cent, are 
 frequently declared. Shares in many Joint Stock Banks in a few years have increased in value from 
 200 to 30O per cent. The liability of the Shareholders will be strictly limited to the amount remaining 
 unpaid on their Shares. Local applications for Shares will receive a preference. Prospectuses and 
 forms of application for Shares may be obtained from Mr. Thomas Lincoln, the Secretary, No. 1, 
 Lombard Street, Newcastle-on-Tyne, or from Messrs. Robert Eadie & Co., Stock and Shajce Brokers, 
 15, Dean Street, Newcastle-on-Tyne." 
 
 A " Form of Application for Shares " and a " Receipt for Deposit " were 
 attached. 
 
 In September of the same year, an advertisement appeared in a local paper 
 for a bank manager, but no names were given. It most probably applied to the 
 Tyne Exchange Bank, as that was the only one floated in Newcastle about this 
 time. The announcement is unique in its way, so I give it here — 
 
 " A London Banking Company being about to establish a branch in this neighbourhood upon such 
 principles as cannot fail to secure a large business, requires a gentleman to take the management. 
 Salary will increase annually in proportion to the business. Applicants must be gentlemen of local 
 influence and knowledge, able to give unexceptional references, and possessing some means themselves. 
 All applications by letter only, to contain full particulars, and to be addressed in the first instance to 
 ' G. M.,' 33, Fleet Street, London. All communications will be treated as strictly private and 
 confidential." 
 
 I have not been able to gather any further information regarding the company. 
 
 amnion 3oint Stock Bank, -Rewcastie-upon-XTsnc. 
 
 (see Newcastle, Shields, atid Simderlatid Ufiiofi Joint Stock.) 
 
[404] 
 
 T 
 
 MarwicF;, Xamb, Mrigbt, 3. Xamb, d Co. 
 IRewcastle-upon-Upne. 
 
 HE note here reproduced is copied from a "Sample Note" found in the 
 collection of memoranda on banking matters disposed of at Miss 
 Julia Boyd's Sale. 
 
 *^22#/y/\/.-/:/..//,-v/ 
 
 
 /<y/ 
 
 ///////'//;/, //////4///r^//,/^ 
 
 I have not been able to gather any information regarding this firm, and in the 
 absence of it, I am inclined to think that the names formed an imaginary banking- 
 house, combined by some engraver for the purpose of producing a sample note. 
 
 Mear 3oint ^tock Banl^ino Co. 
 
 Announced 1832. 
 
 SunC>erIanJ). 
 
 Never formed. 
 
 AN attempt was made in Sunderland in 1832 to estabhsh a joint stock bank 
 under the above title. A prospectus was issued on November 15th. 
 The proposed capital was ;^ 1,000,000, in 10,000 shares of £100 each, and 
 in conformity with the provisions of 7 Geo. IV., c. 46. The project collapsed 
 and was not revived. 
 
[405] 
 
 MboIC6ale Co^^operative Society, Xt), iRewcastic-upou-iri?nc. 
 
 Banking Department founded 1872. 
 
 BY the year above named, the business of this Society had assumed such 
 dimensions that the executive felt justified in forming a "Banking 
 Department." No special capital was set apart for the purpose, as under 
 the circumstances that was not necessary. All the Co-operative Societies that are 
 members of the "Wholesale" are therefore co-partners in the bank; they now 
 number over one thousand, and of these about 350 transact their banking business 
 through the " Banking Department^" of the " Wholesale." Societies can be 
 either depositors with or borrowers from the bank. 
 
 " The customer who has a credit balance with the bank will share in the profits on the earnings, in 
 proportion to the amount, varying from J to 1 per cent., over the interest the customer would get from 
 the usual terms allowed by the ordinary banker. 
 
 The debit customers share in the profits too, in a like manner, but not to the extent of the credit 
 customer, on the amount of interest which is paid on the debit balances of their account, but only to 
 half the profit of the credit customer. 
 
 A customer may be a credit and a debit customer in the same quarter, and would receive profits 
 both as borrower and lender." 
 
 The net profit of the bank for 1893 was £(>,77(), which was divided amongst 
 the members in the ratio before stated. The value of the dividend is explained by 
 Mr. Abraham Greenwood (in a paper read upon the subject) in the following 
 manner : — 
 
 " We will suppose, for the sake of illustration, that your bank was a separate institution, conducted on 
 the system of paying profits on shares, and you had 10,000 shares of £5 each paid on, thus making 
 £50,000. The above profits assisted by the interest receivable from the paid-up capital, would be 
 equal to 17J per cent, per annum, or a dividend of 17s 6d for each £5 share." 
 
 The head office of the Society is at Manchester. The turnover of the banking 
 department for 1893 was £^7)^9^)7'^3)' Their London agents are the "London 
 and County Bank." 
 
 M00^alI, ^tn^all, $i Co. Scarborouab. 
 
 (see Bell, Woodall, & Co.) 
 
[406] 
 
 Founded 1859. 
 
 William Woods. 
 Samuel Parker. 
 William Crd. 
 Thomas Barker. 
 Robert Pow. 
 John Dryden. 
 
 Partners. 
 
 Thomas Miller. 
 John Anthony Woods. 
 Christopher D. Barker. 
 Joseph Mather. 
 William Ord, jun. 
 J. F. Woods. 
 
 IRewcastle-upon-XT^nc. 
 
 Richard Clayton. 
 John Coppin Straker. 
 James Edward Woods. 
 Thomas Wallace Barker. 
 Frederic Straker. 
 
 THE origin of this bank will be seen in the account of the Newcastle, 
 Shields, and Sunderland Union Joint Stock Bank. {See page 320.) On 
 numerous occasions I have recorded the absorption of a private bank by 
 a joint stock company, but this is the only instance I can give of a private bank 
 absorbing a joint stock. If we trace the antecedents of the establishment, 
 however, a little further back, we find it only reverted to its original constitution. 
 
 In the early part of this century, Robert Spence, Draper, &c., of North 
 Shields, was adding banking to his other engagements. He was soon joined in 
 partnership by two friends, the firm becoming Chapman & Co., and spreading 
 their borders to South Shields and Newcastle. A considerable business was done, 
 and in 1836 a Joint Stock Company was formed to take it over, and so the 
 connection passed to the Newcastle, Shields, and Sunderland Union Bank. In 
 1847, difficulties overtook them, which resulted in their suspension. Business was 
 soon resumed, and carried on under a committee chosen by the shareholders, of 
 w^hich Mr. William Woods was elected chairman. For some years they were 
 very successful, and preliminary arrangements were made for the constitution of a 
 new Joint Stock Bank, but complications arose which were terminated in 1859 by 
 the disposal of the shareholders' interests to Messrs. Woods, Parker, & Co., the 
 members of the new partnership being William Woods, Newcastle, Merchant ; 
 Samuel Parker, Newcastle, Lead Merchant ; William Ord, Sunderland, Shipowner 
 and Merchant ; Thomas Barker, North Shields, Shipowner ; Robert Pow, North 
 Shields, Merchant ; John Dryden, North Shields, Shipowner. 
 
 By 1 86 1, Mr. Parker's and Mr. Pow's names had disappeared from the 
 partnership, while those of Thomas Miller of Picktree House, Durham ; John 
 Anthony Woods, Benton Hall, son of Mr. Wm. Woods ; and Christopher Dove 
 Barker, son of Mr. Thomas Barker, were added to the firm. Mr. Woods, the 
 senior partner, died on June 12th, 1864, being in his 78th year. An excellent 
 account of his hfe recently appeared in " Men of Mark," by Mr. Richard Welford. 
 
ni>e66r6. Moob6 d Co. 
 
 Partners in 1894. 
 
 n. E. RUDDOCK Photo. 
 
 Grand Studio, Newcastle. 
 
 Richard Clayton. yames Edward Woods, 
 
 jfohn Anthony Woods. 
 Thomas Wallace Barker. Frederick Straker. 
 
[407] • 
 
 During the next year, Mr. J. A. Woods became head of the firm, Mr. 
 T. Barker retired, and Joseph Mather, who for many years had been a clerk in 
 the estabhshment, was admitted as junior partner. 
 
 Mr. Miller retired about 1868, John Frederick Woods, son of Mr. J. A. Woods, 
 and Richard Clayton entering the firm. In 1873, Mr. Ord withdrew, and his son, 
 Wilham Ord, jun., entered the partnership. By 1879, Mr. Dryden and Mr. J. F. 
 Woods had retired ; the place of the former was taken by John Coppin Straker, 
 and that of the latter by his brother James Edward Woods, another son of Mr. 
 J. A. Woods. 
 
 The next change in the partnership was occasioned by the death of Mr. Mather, 
 the vacancy thus formed being filled by Thomas Wallace Barker, son of Mr. C. D. 
 Barker. Soon afterwards, Frederic Straker succeeded to the position held by his 
 brother, Mr. J. C. Straker. The only later change in the partnership has been the 
 retirement of Mr. C. D. Barker at the close of 1892. 
 
 Their present bank premises at the corner of Mosley and Pilgrim Streets, 
 have been the only abode of Messrs. Woods & Co., as they took the offices as well 
 as the business of the Union Bank. The former tenants were Sir Matthew White 
 Ridley and Partners of the "Old Bank," who moved into these offices in 1790, 
 when Mosley Street was formed, so that the premises have been occupied by 
 bankers for more than a century, the only house in the city that can claim such 
 a record. 
 
 From time to time, branches in neighbouring towns and other parts of 
 Newcastle have been opened, and the business materially extended. In recent 
 years, the firm have adopted the plan of publishing an annual balance sheet ; 
 that for 1893 is given below. 
 
 Messrs. WOODS & CO., Newcastle-on-Tynb, Balance-sheet, 31st December, 1893. 
 
 Dr. 
 Current, deposit, and other accounts.. .. .. .. .. £1,517,340 18 1 
 
 Bank premises Redemption account, rebate on bills, and other funds . . 31,755 
 
 Capital, partners' balances, and undivided profits . . . . . . 381,308 3 9 
 
 £1,930,404 1 10 
 Cr. =^__ 
 
 Cash in hand, at Union Bank of London, and other banks . . . . £353,479 7 11 
 
 Investments, viz. : — British Government securities, £310,234 ; Indian and 
 Colonial Government securities and English corporation bonds, 
 £131,070 ; British, Indian and Colonial railway debenture and 
 preference stocks, £44,000 ; other bonds and debentures, £59,000 
 
 Bills discounted 
 
 Advances to customers . . . . . . 
 
 Bank premises, head office, and branches 
 
 544,304 
 
 454,866 10 
 
 523,153 7 
 
 54,590 16 
 
 
 9 
 2 
 
 
 £1,930,404 1 
 
 10 
 
[4o8] 
 
 PAST PARTNERS. 
 
 Samuel Parker. William Woods. William Ord. 
 
 Thomas Barker. Robert Pow. John Dry den. 
 
 William Ord, jun. Chris. D. Barker. Joseph Mather. 
 
 John Coppin Striker. J. Fred. Woods. 
 
[409] 
 
 l?ork Cit^ d County BanJ^ina Company, /caiton, scarborouab, 
 
 Established 1830. ^C., ^C- 
 
 IN 1830 a joint stock bank was formed under the above title, with the head 
 oflEice at York, and branches at Selby, Howden, Malton, and Scarborough ; 
 the two latter places being within the district under consideration. A 
 general meeting of shareholders was held, Samuel Tuke, Esq., presiding, when 
 the substance of the resolutions passed was as follows : — 
 
 " That a public Company to be called ' The York City and County Banking Company' be now formed, 
 upon the principles and agreeably with the provisions of the Act of 7 Geo. IV., that the Capital Stock 
 of the Bank shall consist of Five Hundred Thousand Pounds, to be divided into 5,000 shares of 
 £100 each ; no individual being allowed to subscribe for more than 100 shares nor less than five. That 
 the Directors shall be empowered to make calls upon the Proprietors for such sums, and at such times, 
 as the wants of the Company may require. That the afEairs of the Bank shall be under the control of 
 seven Directors, to two of whom the Accounts and transactions of the Customers shall be known. That 
 the qualification of a Director shall be fifty shares and upwards, and each Director shall sign a 
 declaration of secrecy. That every holder of five shares shall have one vote, the holder of 15 shares 
 two votes, and one vote for every additional 10 shares, but no person shall have more than ten votes. 
 The following Gentlemen are appointed Directors and officers of the Establishment: — Directors — 
 Henry Croft, Esq., Stillington Hall; Thomas Price, Esq., Clementhorpe ; Thomas Barstow, Esq., 
 Naburn House ; Thomas Laycock, Esq.-, Appleton Roebuck ; Thomas Backhouse, Esq., York ; 
 Benjamin Horner, Esq., Fulford Grange ; Robert Waller, Esq., York. Manager — Mr. Thomas Barnes. 
 Solicitors — Messrs. Richardson and Richardson, London. Bankers — Messrs. Barnett, Hoares, & Co." 
 
 Business was very soon commenced which, by good management, proved most 
 advantageous to the district, and most lucrative to the shareholders. The opening 
 was very opportune, as the recent failure of Messrs. Wentworth & Co. of York and 
 Wakefield left the ground free for any new-comer. 
 
 In 1846 they are notified as having a paid-up capital of ^100,000, being 5,000 
 shares of ^20 each, annual dividends of about 10 per cent, being paid, and the note 
 issue fixed at ;^94,695. They then had eight branches. In 1848 the reserve fund 
 was i"45,743- 
 
 In 1865 the capital was increased to ^125,000, being 5,000 shares of ^25 each. 
 Eight per cent, dividend was paid and a bonus of 5 per cent. In 1873 the dividend 
 was 10 per cent, and a bonus of 6 per cent., the reserve fund reaching £'j^,2()6. 
 In 1875 the paid-up capital was ;^i 62,500 and a 20 per cent dividend paid, the 
 branches then numbering twelve, and five sub-branches. 
 
 The Company was registered under the Limited Liability Act, July 2nd, 1883, 
 when the capital was increased to ;^ 1, 000,000. In 1893 the following particulars 
 are reported: — Capital, ;^i, 250,000; Paid-up Capital, .^335,304; Reserv^e fund, 
 ^'371,202 (larger than the paid-up capital) ; authorised note issue, £94,6^^ — from 
 ;^8o,ooo to ^90,000 being kept in circulation. Branches 40, sub-branches 2^. 
 
' [410] 
 
 During the last few years the Company have firmly established themselves in 
 the northern district, and now have important branches at Newcastle and 
 Sunderland, the former being under the management of Mr. Wm. Spicer, and the 
 latter of Mr. E. H. Kirby. The dividends paid have been very substantial, varying 
 from 15 to 20 per cent. The general management was in the hands of Mr. Robert 
 Barnes from 1830 to 1852. He was succeeded by Mr. Edward Smallwood, who 
 retained office until 1873, when the present general manager, Mr. W. W. Morrell, 
 was appointed. 
 
 ^ovk innion BanF^ing Co. /iDaiton, umbitbs, ubtrsh. ac. 
 
 Established 1833. 
 
 IN February, 1833, a prospectus was issued of a joint stock bank to be established 
 at York under the title of " The York Banking Company." The capital was 
 to be ^500,000 in 5,000 shares of ;^ioo each. 
 
 The preamble states that in consequence of the very prosperous state of the York City and County 
 Bank, which was established in January, 1830, it was thought desirable to form another joint stock 
 bank. The usual attention is drawn to the soundness of banking in Scotland compared to England, &c. 
 No one shareholder is to have more than one hundred or less than five shares ; 10/- to be paid on 
 subscription, to defray expenses of establishment, £4 10s. at the call of the Committee, and £5 on signing 
 the deed of settlement if necessary. To be managed by Five directors to be chosen by the shareholders, 
 two of whom shall retire annually, but shall be eligible for re-election at the end of one year. Fifty 
 shares a qualification for director. Annual Meeting to be held in February. The Prospectus was 
 issued by Mr. Ord, Solicitor, Petergate, York, who was authorised to receive applications for shares. 
 
 The following foot-note is added : — 
 
 " N.B. — It may be proper to add that more than 2,500 shares have already been subscribed for by the 
 
 gentlemen under whose authority I act. — York, February 1st, 1833. 
 
 JOHN ORD." 
 
 A meeting of subscribers was held on February 13th, when it was resolved 
 that another meeting should be called for March 28th, to take place at the White 
 Swan Inn, Pavement, York, to receive the report of the committee — to choose 
 directors — and adopt the heads of the Deed of Settlement. 
 
 The meeting was duly held, Mr. Alderman Cooper presiding. The committee 
 handed in their report, the main points of which were : — 
 
 That the Company be denominated " The York Union Banking Company," and established under 
 Act 7 Geo. IV., cap. 46. That the capital consist of £600,000 in 6,000 shares of £100 each. That power 
 be given to create more capital if required, to be apportioned amongst persons resident in or near 
 places where branches may be established. 
 
Ui^J 
 
 On May 1st, 1833, or within ten days, £4 lOs. to be paid for shares, which, with the deposit of 
 10s. per share already paid, makes the first instalment of £5 per share. A further £5 to be paid when 
 called for. The directors may call for the remaining £90 — not more than £5 per annum to be asked for, 
 and two months' notice to be given. " That no transfer of shares shall be made to any subscriber until 
 the expiration of twelve months after the Company shall have actually commenced business, but 
 afterwards they may be sold with the approbation of the directors." The bank to be managed by five 
 directors — three to constitute a board. The directors shall appoint two of their number to be the 
 " Managing Directors." Directors to have the appointment of the requisite staff. " Private accounts 
 and concerns of customers" to be only open to managing directors. That the first annual meeting be 
 held in February, 1835. Provision was made for forming a guarantee fund. No proxies to be allowed. 
 
 The following gentlemen were then appointed directors : — D. W. Cooper, George 
 Hudson, William Scawin, Joyce Gold, and Richard Wood, the first-named being 
 appointed chairman. 
 
 Business was very soon commenced at 33, Coney Street, where a meeting 
 was held on May 20th, 1833, and it was resolved — 
 
 " That a Branch of the York Union Banking Company be established at Drifiield, and that shares be 
 allotted to the Gentlemen, Tradesmen, and others resident in Driffield, Bridlington, &c. Applications 
 to be made to ^Mr. John Ord, Solicitor, York ; Messrs. Scotchburn and Shepherd, Solicitors, Driffield ; 
 and Sir. Robert Davison, Bridlington." 
 
 The first annual meeting was held on Tuesday, February 24th, 1834, at the 
 George Inn, Coney Street. The circular calling the meeting has the following foot- 
 note : — 
 
 "It is proposed to dine on the occasion at Mr. Braithwaite's at Half-past Four o'clock. Tickets 
 lOs. 6d. each ; for which early applications are requested." 
 
 The files of the York Herald do not divulge what passed at the dinner. . 
 
 An extensive and profitable business was very soon gathered. By 1845, five 
 branches and six sub-branches had been added — Malton and Thirsk being within 
 our district. 
 
 The official date of registration is given as May ist, 1833. They were 
 registered under the Limited Liability Act in June, 1883. 
 
 The Company's authorised note issue is ;^7 1,240 — a large percentage of which 
 is kept in circulation. 
 
 In 1892 the long established business of Messrs. Simpson, Chapman, & Co., 
 of Whitby, was taken over by the Company, Mr. John Chapman Walker, who 
 had formerly been a partner in the Whitby bank, undertaking the management of 
 the branch. 
 
 For many years the dividends have ranged from 17 to 18 per cent. A reserve 
 fund has been accumulated that now amounts to ^156,000. 
 
[412] 
 
 l?orI^6bire BGriciiltural anb Commercial 
 
 Banl^ino Co. /iDaiton, Mbttbp, ^c. 
 
 Founded 1836. Failed 1842. 
 
 THIS bank was one of the numerous institutions originated in 1836, when 
 such a rage set in for estabhshing banks upon the joint stock principle. 
 The prospectus names the capital as ^500,000, to be divided into loopoo 
 shares of £c^ each. The principal promoters were : — Mr. Joseph Wood, a 
 gentleman who had made a considerable fortune in the cutlery trade, and Mr. 
 Henry Pearson, an attorney. The prospectus was issued in May. It was soon 
 announced that the required number of shares had been applied for. In August 
 the bank was opened, the head office being at York. Mr. William Gaskell, a 
 gentleman who had obtained some banking experience with the York City and 
 County Banking Company, was appointed general manager. In a short time, 
 branches were opened at Driffield, Pocklington, Hull, Leeds, Malton — under the 
 management of Mr. William Wilson — and Whitby, where Mr. Stormont Panton 
 presided. Agencies were formed at Hunmanby, Bridlington, Kirby Moorside, 
 Pickering, Market Weighton, and Tadcaster. Nearly all the establishments were 
 competitive, as in most of the places named, the ground was well occupied by 
 existing banks. In the course of the first two years, capital was called up to the 
 amount of ;^i 75,000. 
 
 In December, 1836, the directors purchased the business of the ''Northern and 
 Central Banking Co." at Leeds, giving ;^6,5oo for the goodwill, and taking over 
 accounts to the extent of ;^8o,ooo— all of which had to be paid for in cash. This 
 was deemed a most fortunate bargain for the " Northern and Central," but most 
 suicidal for the "Agricultural." A large sum of money was also most injudiciously 
 spent in building elaborate and extensive premises at York and Whitby. 
 
 Dividends averaging 6 per cent, were paid, and reports of a favourable nature 
 issued up to the early part of 1842. Soon after then, rumour was afloat of the 
 bank being in difficulties. This resulted in the appointment in June, of a 
 committee of investigation, who were to report at the next annual meeting 
 (February, 1843). Before the end of the year, the crash came. On December 
 23rd, the London and Westminster Bank (who were the London agents of the 
 "Agricultural ") refused their drafts, when the bank was compelled to close its doors 
 at the head office and all the branches. A terrible state of insolvency was soon 
 revealed. The shareholders, numbering about 580, were mostly of the thrifty middle 
 class, to whom the loss of their capital was most disastrous, the calamity being 
 enhanced by the dread of future calls. 
 
[413] 
 
 The manager, Mr. Gaskell, had relinquished his post early in 1842, and 
 had accepted an appointment elsewhere. 
 
 The report of the investigating committee was given February 2nd, 1843, and 
 is described as " one of the most remarkable documents connected with the history 
 of English Banking." It is divided into eleven paragraphs, but it is too long to 
 give here. The committee report : — 
 
 The books kept in a very confused and irregular manner — the amount of losses far greater than 
 generally supposed — scarcely any minutes of meetings kept — many documents not forthcoming — the 
 Proprietors' Account in a very unsatisfactory state — preliminary expenses very heavy — a large outlay 
 on property not consistent either with economy or the known condition of the bank — many accounts 
 taken from the Northern and Central Bank in a very doubtful state — by certain entries the property 
 made to assume an increased value which it did not possess — in 1841 the sum of £5,500 added to 
 Interest Account as recoverable on doubtful debts, with a view to increase the profit of that year and 
 enable a dividend to be declared, whilst the real losses were stated as amounting to only £27,417 — 
 gross mismanagement— a reckless system of advances and accommodation to most improper parties 
 — certain discrepancies in the " Note Account, not satisfactorily explained." The report is signed by 
 John Hopps, H. S. Thompson, and Edw. Smeeton. No charge is made of positive fraud, the primary 
 reasons for the failure being stated as "1. A pre-occupied field ; 2. Unfit, and as regards banking 
 knowledge, ignorant directors ; and 8. An imprudent and riskful manager." The statement of 
 Liabilities and Assets will show the frightful losses incurred. 
 
 YORKSHIRE AGRICULTURAL AND COMMERCIAL BANKING COMPANY, 
 
 Decembeb, 1842. 
 
 Liabilities. 
 
 £ s. d. 
 
 Due to the Public — 
 
 On Current Accounts .. .. 27,378 3 4 
 
 On Notes in Circulation . . 22,360 
 
 On Deposit Receipts . . . . 40,540 9 7 
 
 Drafts on Bankers .. .. 8,764 11 7 
 
 Sundry Bankers' Balances . . 69,597 3 7 
 
 Estimated Loss on Bills under 
 
 Re-discount 18,000 
 
 Balance of Profit and Loss . . 6,674 2 7 
 
 Capital paid up 
 
 Assets. 
 
 Probable payments from over- 
 drawn accounts 
 Bills on baind 
 Securities valued at 
 House property and furniture 
 Stamps 
 
 Due from Sundry Banks 
 Shares in DrifiieldCom Exchange 
 Cash in hand 
 
 s. d. 
 
 80,000 
 
 4,471 7 
 
 8,000 
 
 9,000 
 
 536 18 
 
 298 4 
 
 50 
 
 6,561 14 
 
 193,304 10 
 . 175,000 
 
 8 
 
 
 108,918 
 Gross Loss 259,386 
 
 4 
 6 
 
 6 
 
 2 
 
 £368,304 ]0 
 
 8 
 
 £368,304 
 
 10 
 
 8 
 
 
 
 Gross Loss as above . . . . £259,386 
 Deduct capital paid up . . . . 175,000 
 
 6 
 
 
 2 
 
 
 
 Leaves as the actual deficiency 
 
 to be raised by further calls . . £84,386 
 
 6 
 
 2 
 
 An extra call of £i per share was made to meet the deficiency of ^84,000. 
 It was stated that " the amount of the call could be obtained in a great number of 
 instances only by the sale under a bailiff's writ of the household goods of the 
 debtors. In fact, it was the operation of the demand for this extra call that 
 constituted the greatest hardship of the sufferers." 
 
 The Whitby premises were purchased by the York City and County Bank. 
 
[414] 
 
 l!?orR9bire Ban?^ing Company. ubtrsft, «xc. 
 
 Established 1843. 
 
 'T^HE origin and foundation of this bank is best explained by a copy of the 
 prospectus that was issued July 6th, 1843: — • 
 
 PROSPECTUS OF THE YORKSHIRE BANKING COMPANY. 
 
 Capital £500,000, in 20,000 Shares of £25 each, on which £10 10s. per Share will be Paid. 
 
 DiEECTORS. 
 
 JAMES AUDUS, Esq. ABRAHAM HIRST, Esq. 
 
 JOHN CLAPHAM, Esq. GEORGE HAMMOND, Esq. 
 
 JOHN HOWARD, Esq. 
 
 AUDITOB. 
 
 MAKIN DURHAM, Esq. 
 
 Manager. 
 HENRY DRESSER, Esq. 
 
 This Company is formed for the purpose of taking up that portion of the Business of the 
 Yorkshire District Bank which is good and profitable, and for purchasing of that Company all the 
 property necessary for the conducting of such business. 
 
 It is intended to confine the offer of Shares in the Bank to the present Shareholders of the 
 Yorkshire District Bank until the 15th day of August next, after which time the Shares refused or not 
 appropriated will be offered to such old Shareholders as shall, by that time, have become Shareholders 
 in the Yorkshire Banking Company, and if not wholly taken up by them, the remainder will be at the 
 disposal of the Directors for the benefit of the Bank. 
 
 The advantages to be derived by the Shareholders of the Yorkshire District Bank in this 
 Establishment have been fully explained by the Committee of Investigation appointed by the 
 Shareholders of that Establishment to a Special General Meeting held at Leeds, on the 5th instant, 
 and were such as to meet with the unanimous approbation of the very great number of Shareholders 
 then assembled. 
 
 For the purpose of guarding against imprudence and negligence in the management of the Bank, 
 it is intended that the Directorate shall consist of Gentlemen of ability and business-like talent, selected 
 from places as near to the Head Office as possible, and that two of such Directors shall be paid for 
 their attention— one of whom shall devote the whole of his time and services to the Bank, and shall 
 reside at or near the Head Office. 
 
 It is also intended that the Auditor shall be a paid Officer, and that, as his duties shall be to 
 investigate most fully the state of the Establishment every half-year, to ensure proper attention he 
 will be required by the Deed of Settlement to devote at least ten days, and not less than six hours on 
 each day, previous to each half-yearly General Meeting, in examining into every matter and thing 
 relating to the Co-partnership. To put the Shareholders in possession of as much information as 
 possible to enable them to form their own conclusions as to the state of the Establishment each half- 
 year, it is intended to report the Assets and Liabilities of the Company, to describe the nature of the 
 Securities held by the Bank, and the amount of expenses, distinguishing the sums paid for Salaries 
 from other charges. 
 
 Under such regulations it is believed that a good and profitable business may be ensured, and 
 may be safely conducted ; that it will yield a profit satisfactory in its amount, and derived from sound 
 Banking principles. 
 
[ 415] 
 
 The bank was duly constituted, the head office being at Leeds. Thirsk was 
 at that time the only branch in the district under consideration. Messrs. 
 Bamett & Co. were the London Agents. 
 
 In 1844 their authorised issue was fixed at ^122,532. Their notes are still 
 freely accepted aud largely distributed ; their average issue for 1893 was upwards 
 of ;^ 1 00,000, the largest circulation of any bank in the district, and only second in 
 the kingdom to Messrs. Stuckey's Banking Company, who took the first place. 
 
 The business has been greatly extended and many branches added. Thirsk, 
 Middlesbrough, and Northallerton are the towns in North Yorkshire where they 
 are now represented. 
 
 In August, 1 89 1, the capital was considerably increased by the issue of 5,000 
 shares at a premium of £21 los. per share, £12 los. per share being called up. 
 The reserve fund is now upwards of ^200,000 including /" 107,500 premium on 
 shares issued. The dividends for the last fifteen years have ranged from 10 to 14 
 per cent. 
 
 13oiFi0bire d (Tlcvelanb Banft. stocftton. 
 
 Founded 1884. Proprietor. Extinct by 1888. 
 
 W. R. Graham. 
 
 THE Bankers Almanac of 1884 announces a bank at Stockton under the 
 above title — W. R. Graham, manager. The bank is subsequently stated 
 to have been opened in 1880. It is afterwards named as having a branch 
 at Swainby, by Northallerton. I am informed that Mr. Graham was the only 
 proprietor, and that the business done is unknown. It ceased to exist in 1887. 
 
 13orh9bire S)i9tnct BanJ^ing do. xrbirsft, (Xc 
 
 Established 1834. Purchased by Yorkshire Banking Co. 1843. 
 
 A PROSPECTUS announcing the formation of this company was issued in 
 May, 1834. The proposed capital was ;^500,ooo in 50,000 shares of £10 
 each. The preamble so often met with in prospectuses of that date, drew 
 attention to the difference between the Scotch and English systems of banking ; 
 and the numerous panics that occurred from 1793 to 1826 were dwelt upon. One 
 
[4i6] 
 
 shilling per share was to be paid on application, £2 ids. per share 30 days after 
 the election of the board of directors, £2 los. in 90 days, and the remaining £^ 
 to be called for in one sum or by instalments at such times as the directors might 
 deem desirable. Apphcations to be made to J. H. Ridsdale, Share Broker, or 
 Messrs. Hemingway and Nelson, Solicitors, Leeds ; and Mr. George Bulmer, 
 Solicitor, York. " All letters to be post paid." 
 
 In the next announcement the following names were added to those who 
 issued the prospectus : — Mr. Tolson, Sohcitor, Bradford ; Mr. Norris, Solicitor, 
 Halifax ; Mr. Taylor, Solicitor, Wakefield ; Mr. Shepherd, Solicitor, Barnsley ; 
 Mr. Dixon, Sheffield ; and Mr. Thomas Wheeler, Solicitor, Manchester. 
 
 A General Meeting of the shareholders was held at Crossland's Hotel, Leeds, 
 on June i8th, 1834 > Isaac Spencer of York, Esq., being in the chair, when the 
 provisional committee reported upon " the highly auspicious circumstances under 
 which the bank was advancing to maturity," and the sound principles on 
 which it was being estabhshed. One of the " new and important features " 
 mentioned was, it being " the first full application of the District Plan of banking 
 to this affluent and populous county, making it different from other private and 
 joint stock banking companies." It was also stated that "the aggregate amount 
 of capital, and the wealth and affluence of the shareholders," afforded to the 
 pubhc a basis of unquestionable security, which was not confined to the head 
 office but also extended to the branches. 
 
 In fourteen days sufficient shares were applied for to found the bank. By 
 the date of the meeting the apphcations had reached 29,989, and it was proposed 
 to increase the amount of the shares from ;^io to £20. Negotiations were 
 pending with the Manchester and Liverpool District Bank^ 
 
 " by which the extensive connections and numerous branches of that and the present establishment 
 may be made mutually subservient to the monied arrangements of the two great counties of Yorkshire 
 and Lancashire." 
 
 A similar arrangement was in progress with the leading banks of Ireland and 
 Scotland. The provisional committee then formally resigned their trust. The 
 report was adopted, and the following general board of directors appointed : — 
 " Francis Marris of Roundhay, Leeds ; Isaac Spencer of Plantation, York ; 
 Thomas Smith of Huntingdon Hall, York ; William Vickers of Firs Hill, 
 Sheffield ; John Milner of Halifax ; James Gadsden of Hull ; William Rand of 
 Horton, Bradford ; Esquires." Mr. F. Marris was elected chairman. It was 
 announced that the directors hoped to be able to open the head office at Leeds 
 on July ist, 1834. Mr. Matthew Edwards was appointed general manager. 
 
[4I7J 
 
 The establishment of branches was very soon commenced, one of the earhest 
 being at Thirsk. The York Herald for February 28th, 1835, announces : — 
 
 " We understand that the highly respectable banking firm of Messrs, Joseph Dresser & Co. of Thirsk, 
 relinquished their business on the 17th instant, in favour of the Yorkshire District Bank, and that 
 Mr. Henry Dresser, the managing partner of the firm, has been appointed manager of the bank." 
 
 It was anticipated that a bank started under such " highly auspicious 
 circumstances " should have a long and prosperous career before it, but in less 
 than ten years it was in difficulties, and the " good and profitable portion " of the 
 business was bought by the Yorkshire Banking Company. (See page 41^.) 
 
 l^ort^sbire penni? Bank. Mbitbp, scarborouab, ^c, Sic. 
 
 Established 1856. 
 
 THIS institution has branches in so many towns and villages situated in the 
 district under review, and is such a marvellous illustration of the utility and 
 power of " the penny of the many," that it is well entitled to a place 
 amongst banks of greater age and ambition. An account of it appeared in " Leeds : 
 Its Art, Trade, and Commerce," from which I gather the following particulars. 
 
 Suggested in 1856, chiefly owing to the exertions of the late Colonel Akroyd, 
 it was opened in May, 1859. The first report, given in April, i860, stated that 58 
 branches had been inaugurated, and the accumulated deposits amounted to £9,777. 
 Satisfactory as this result was, the bank has advanced with extraordinary 
 rapidity, till, from the report of 1893, we obtain the following figures, which 
 show the magnitude of the present business. 
 
 During the year the number of depositors was 1,871,602, and the amount 
 deposited was /4,7i9,i04 17s. The number of withdrawals was 494,556, and the 
 amount withdrawn was ^4,1 76,457 14s. 9d. The number of Open Accounts at the 
 end of the year was 324,183, and the amount standing to the credit of depositors 
 was ^"7,317,699 15s. 7d. The interest paid to depositors or added to their accounts 
 was;^i96,4i4 6s. lod. 
 
 Established for the encouragement of thrift, it is worked with the greatest 
 economy, and every effort made to obtain safe and profitable investments. An 
 additional feature not contemplated in the original scheme has been added, 
 especially for the benefit of children, and is known as the School Transfer Fund. 
 This has also been very successful, the number of depositors exceeding 5,000. 
 The bank issues cheque-books to depositors having balances of ^50 and upwards, 
 
[418^ 
 
 which is a great advantage ; any sum under £20 can be withdrawn without 
 notice, while larger sums only require one day. The branches now number 
 1,000 ; some of them are open during ordinary banking hours. The reserve fund 
 has reached /'i9i,ooo. 
 
 The Rt. Hon. the Earl of Harewood is the President of the Bank, and is 
 supported by a numerous and influential body of Vice-Presidents and Directors. 
 The present General Manager is Mr. H. B. Sellars. He succeeded the late 
 Mr. Bent, who had been associated with the scheme from its outset, and to whose 
 untiring energy and perseverance the success of the Institution is mainly due. 
 
 Ver)^ recently extensive premises have been opened adjoining the new post 
 office at Leeds. The opening ceremony was conducted on August 17th, 1894, by 
 the Duke of Devonshire. In his address he said that the series of figures 
 showing the working of the bank — 
 
 "increased year by year in a ratio which reminded him more of a geometrical than an arithmetical 
 progression. It showed the enormous increase year by year in the number of depositors and the 
 amount of the deposits, and, generally speaking, in the amount of business done, which was a clear 
 evidence of its increasing usefulness and prosperity. In the year 1859 the amount deposited was 
 £3,252, and last year it was £4,717,104. In the year 1862 the number of accounts was 17,800, and in 
 the last year the depositors numbered 324,183 and the amount to their credit was little short of 7^ 
 millions. This great success could only have been due to the patient determination with which the 
 directors had kept in mind the desire and objects which influenced the founder, and had refused to be 
 led away from those objects. The institution op banking had undoubtedly contributed 
 
 ENORMOUSLY TO THE COMMERCIAL AND INDUSTRIAL PROSPERITY OP THE COUNTRY, AND, IN FACT, HAD 
 BEEN ONE OP THE CHIEP FACTORS IN THAT PROSPERITY." 
 
 ADDENDUM. 
 
 T^HE following is the list of signatures attached to the note guarantee given at North Shields, 
 July 25th, 1816, which, from anticipated want of space, was omitted in the account of Messrs. 
 Batson, Wakefield, and Scott, at page IGl. 
 
 William Linskill. 
 John Walker & Co. 
 Wm. Chapman. 
 Robert Laing. 
 Thomas Wright. 
 John Scott. 
 Thomas Curry. 
 John Tinley. 
 Thomas Tinley. 
 Emanuel Taylor. 
 Jon. CockerilL. 
 William Barnes. 
 James Marr. 
 George Cruddas. 
 Wm. Green. 
 Nicholas Cooke. 
 
 Alex. Russell. 
 Crawford & Russell. 
 Nehemiah Blagdon. 
 Thomas Swan. 
 Henry Hays. 
 Wm. Harrison. 
 D. McAllum. 
 Edward Hewison. 
 Mary Weatherhead. 
 James Leslie. 
 Hugh Bell. 
 Robert Rochester. 
 Eliz. Lishman. 
 W. Davison. 
 Robert Appleby. 
 John Wilkin. 
 
 Alex. Bartleman. 
 Wm. F. Hewison. 
 Thomas Dobinson. 
 I. Cram. 
 
 Thomas Appleby. 
 John Craig. 
 William Awburn. 
 Coulson & Cruddas. 
 Mary Purvis. 
 Robert Storey. 
 Robert Smails. 
 Dorothy Redpath. 
 John Fenwick. 
 A. Trotter. 
 Edmund Coppin. 
 A. Lesslie. 
 
[419] 
 
 William Robson. 
 Miles Jordeson. 
 R. Swaai. 
 John Robson. 
 William Wardle. 
 James Richardson. 
 Thomas Ramsay. 
 Thomas Bulloch. 
 James Lyon. 
 Isaac Kirton. 
 John Swan. 
 Charles Turner. 
 Mary Beall. 
 Isabella Carr. 
 John Coppin. 
 Francis Laidman. 
 Alexander Mitchell. 
 James Richardson. 
 Henry Weightman. 
 John Y. Reay. 
 John Dale. 
 Colonel Ramsay. 
 A. Watson. 
 C. Downie. 
 J. Weatherburn. 
 W. Haswell. 
 George Hindmarsh. 
 Thomas Gilholm. 
 Spence & Foster. 
 M. B. Foster. 
 Hannah Reed. 
 Barbara Alexander. 
 John Hutchinson. 
 Thomas Todd. 
 Elizabeth Bell. 
 William Pearson. 
 Edward Drury. 
 Robert Hansell. 
 W. Burnett. 
 John Gray. 
 W. Oxley. 
 George Taylor. 
 Robert Cleugh. 
 W. Robertson. 
 John Dale. 
 E. Walmsley. 
 Michael Spoor. 
 John Jefferson. 
 W. Patterson. 
 Henry Dale. 
 Samuel Hall, jun. 
 Nicholas Bird. 
 George Burrell. 
 Thomas Embleton. 
 Hugh Hume. 
 G. Gibson. 
 Thomas Pearson. 
 John Shield. 
 Sarah Wilson. 
 A. Ellison & Son. 
 Horner, Clark, & Co. 
 Proctor & Spence. 
 
 M. & J. Bell. 
 W. Wailes. 
 J. Peart. 
 Thomas Haig. 
 W. H. Aynsley. 
 John Bell. 
 T. Matterson. 
 John Bell. 
 John Thwaites. 
 H. Taylor & Son. 
 Harrop Pringle. 
 Joseph Elder. 
 Ralph Young. 
 John Weatherley. 
 W. Gott, jun. 
 John Sharp. 
 E. Dixon. 
 R. Hewitt. 
 W. Blackwood. 
 Rachael Sanderson. 
 C. Fenwick & Co. 
 N. Fenwick. 
 M. Ramshaw. 
 Jane Davidson. 
 Thomas Walker. 
 Rennison & Spencer. 
 John Bowie. 
 G. Hunnam. 
 Hannah Pringle. 
 Joseph Ogilvie. 
 R. Forster. 
 Joseph Harrison. 
 Wm. Hutchinson. 
 Thomas Reay. 
 John Walker. 
 Hannah More. 
 Wra. Vickerson. 
 John Ostle. 
 Alex. Cowey. 
 Robert Trotter. 
 P. Ibbetson. 
 John Hays. 
 Mary Thompson. 
 Matthew Carlisle. 
 William Hogg. 
 Matthew Anderson. 
 Richard Clark. 
 Ann Davenport. 
 Peter Coats. 
 Jonathan Spence. 
 Wm. Brown. 
 Robert Forrest. 
 Wm. Orange. 
 Robert Reed. 
 R. B. Storey. 
 Ann Scott. 
 Alex. Gillies. 
 Ben. Lisle. 
 Susannah Reid. 
 John Cowey. 
 Richard Brown. 
 Henry Bowmaker. 
 
 John Hearn. 
 
 W. Brown. 
 
 J. Heweth. 
 
 John Hastings. 
 
 John Newree. 
 
 Joseph Fidler. 
 
 Robert Nicholson. 
 
 W. Richardson. 
 
 John Hunter. 
 
 G. Wigham. 
 
 John Dawson. 
 
 James Wake. 
 
 John Brogdon. 
 
 Esther Rutherford. 
 
 John Whale. 
 
 Clement Appleby. 
 
 Robert Gilholm. 
 
 Henry Bewick. 
 
 Joseph James. 
 
 Joseph Bell. 
 
 Elisha Bell. 
 
 Sarah Richardson. 
 
 Ann Marshall. 
 
 James Legg. 
 
 Maria Dormond. 
 
 Thomas Sutherland. 
 
 Webster and Matthewson. 
 
 David Sutter. 
 
 Henry Dunn. 
 
 George Balmer. 
 
 Mary Salkeld. 
 
 Robert Hewison. 
 
 Elizabeth Walmsley. 
 
 Robert Dixon. 
 
 Dorothy Fithye. 
 
 Clara Carr. 
 
 John Margarets. 
 
 Matthew Stewart. 
 
 Wm. Forster. 
 
 John McLellan. 
 
 Elizabeth Newton. 
 
 Elizabeth TurnbuU. 
 
 Charles Starks. 
 
 Michael Wake. 
 
 Richard Bell. 
 
 James Nicholson. 
 
 Henry Hart. 
 
 Sarah Towns. 
 
 Robert Butler. 
 
 Jane Salkeld. 
 
 Barbara Younger. 
 
 John Armstrong. 
 
 B. C. Tyzack. 
 
 Snowden & Wardle. 
 
 John Manners. 
 
 Ellison & Temple. 
 
 N. Blagdon. 
 
 R. Barker. 
 
 R. Hume. 
 
 W. AUon. 
 
 N.B. — The original Lists are at Mr. Barnes's for further signatures. 
 North Shields, Thursday Noon, July 25th, 1816. 
 
[4^1] 
 
 APPENDIX. 
 
 AWAY WITH OLD RAGS ! 
 
 GOLD FOR EVER!! 
 
 A LETTER on BANKS, 
 
 From Peter Pry, at Alston, to his Cousin, Bob Fudge, in Newcastle. 
 
 DEAR BOB, — " Experience," says the old proverb, " teaches fools wisdom." This is true ; for 
 I was very lately blind, but the " working of events " has opened my eyes. The prejudice, 
 the bigotry, the pride which formerly blocked up all the avenues by which truth could 
 enter my uaderstanding, have been levelled by one rude blow ; and I now wonder how I could be so 
 obstinate and so silly. Let any man tell me now, that a " Promise to pay," written on a dirty bit of 
 paper, is better or as good as payment itself, and I will laugh in his face. Let me hear a fellow argue, 
 that paper is better than gold for all the purposes of security in Trade, and I will " write him down an 
 ass." — Let me hear any one lamenting the approaching resumption of cash payments by the Bank of 
 England, and talking with indifEerence of the thousands of victims sacrificed by the Old Hag in 
 Threadneedle street, and I will pronounce him a hard-hearted Scoundrel. 
 
 This train of thinking originated in the stoppage -of payments by the Banking House of Sii 
 Francis Blake, Bart., Reeds, and Co. What a Bank! and how stored it must have been with the 
 valuable metals ! Well, when the news first reached our bleak wilderness, I received it with a mixture 
 of incredulity and indignation. " It is a vile — an incredible fiction," said I. " Are not Blake, 
 Reeds, & Co." I triumphantly asked, " Bankers to the richest and wisest Peer in the realm ? Do they 
 not receive a great proportion of the taxes from the Receivers ? Are they not patronized by the very 
 loyal, and very sagacious Corporation of Newcastle ? Have they not the support of the wealthiest and 
 most zealous church and king gentry in the North ? Has not Archibald Reed had the honour, by his 
 correspondence with Lord Sidmouth, of contributing to save the country when in " a state of almost 
 rebellion," and when one hundred thousand Radical banditti were in arms on the Tyne and the Wear? 
 and will the richest and most generous government on earth not save him in return ? Did not his 
 papers in the green bag authorise the passing of the six famous acts which have preserved our property 
 and our religion ? and will the lords of the soil and our lichly beneficed clergy suffer his credit to 
 perish ? Is he not a member of the Bridge Street Constitutional Association ? and will the very elect 
 of the respectable classes not support each other, and " keep together in their chivalry ? " When that 
 hurnhig shame, an illumination for joy on the Queen's acquittal, was lighted up in Newcastle, did he 
 not gallantly scour the streets of the ragged Reformers with the Irish Dragoons ? and can the 
 ministers permit such daring zeal to remain unrequited? But it is all fudge; he who organized a 
 valiant band to protect the property of the public would never suffer that property to be injured ? In 
 fact, I lost my breath in the fervour of my enthusiasm ; and seizing the Newspapers, which were that 
 moment laid upon the table, " there ! there ! " I continued, " there, ye easy gulls I Examine the minute 
 and mercantile Tory " Hue ayid Cry " paper ; or, if you please, the faithful and impartial Whig 
 Chronicle, and you will find the Editors know nothing of this stoppage, which is said to have taken 
 place under their very noses? And is that possible?" — But my exultation vanished, and I was 
 overwhelmed with confusion and dismay when my neighbour (a knowing one) dryly said, " Well, 
 Peter, I will sell you fifty pounds of your friend's notes at a discount of fifty per cent." Apropos, it is 
 true that a brisk trade in buying and selling these notes is carried on in Newcastle, and that the 
 agents, clerks, and partners of the bank have honourably discouraged this Jewish trafic ? I hope it is so. 
 I have just read an advertisement issued from the Northumberland Bank, Two well qualified 
 gentlemen are, it seems to examine their accounts, after which a satisfactory report is to be published ; 
 
[422] ^^^^^^^^^^^ 
 
 not by the Examiners, mind, but by a Committee of polite Gentlemen, Esquires of course ! This is an 
 admirable arrangement. But the management of Surtees's affairs is not yet forgotten (By the bye, do 
 they not call your Canny Mayor Surtees ?) Nor ought a man to lay " the flattering unction to his 
 soul " unadvisedly. Let me see : there is the Bank of Surtees, Burdon, and Co. of your town, and 
 of Berwick upon Tweed — the Bank of Cooke, Robinson and Co. of Sunderland— the Bank of Thomas 
 Cooke, Esq. of the same place — the Bank of Goodchild, Jackson and Co. of Bishopwearmouth — the 
 Bank of Mowbray and Co. of Durham and Darlington — and the Bank of Lumley, Wilkinson, and 
 Snowdon — all broken up within a few years— and the Dividends paid by these dealers in old Rags are 
 not equal to the interest due upon their debts ! Stand forward then, ye admirers of the Paper System, 
 and view the distress and the sufferings it has occasioned — Open your Mouths and show how the loss 
 of nearly a Million Sterling, in the counties of Northumberland and Durham, from the failures of 
 Banks is to be regained — Take up your pens and demonstrate to the satisfaction of the Public that 
 the holders of Bank Notes are no longer in a state of risk and peril. 
 
 I wish you to send me some account, founded on known facts, of your Banks. Every man that 
 holds a One Pound of any Bank is a Creditor of that Bank, and every prudent Creditor ought to 
 scrutinize the circumstances of his Debtors. I know it is gross folly to say, — " Ah ! there is no fear 
 of such a one — he has such and such estates ; " for Bankers are generally cunning enough to get their 
 estates entailed ; which, in cases of failure, reduces the claims of their Creditors to a mere life interest 
 in their estates. Besides, estates may have been mortgaged perhaps to two-thirds of their value some 
 years ago ; and in such cases, they are not now worth the sum they are mortgaged for. The average 
 price of Corn, in one quarter last year, was 70s 'kd per Quarter ; and this year it has been only 52s 4cZ 
 and it is still falling, notwithstanding a bad harvest in the South : estates must fall in proportion, and 
 the Landholders must daily become poorer and poorer. But I wish to ask. Is it true that any of your 
 Bankers speculate deeply ? And are they insured from the losses common in Trade ? Do any of them 
 hold the keys of granaries as securities for cash advanced to adventurers in the Corn trade ? And 
 would much of this Corn sell for more than one Shilling a bushel ? Have you any Bankers, the locality 
 of whose estates are not well known ? And does the riches of any of them mainly consist in Ships, 
 that greatly depreciated species of property ? Is it true that Government secures itself by a bond 
 upon the property of those Bankers that receive the taxes ? And does this, in case of failure, give 
 Government a preference to other Creditors ? Is not every " Promise to Pay," issued by Bankers, as so 
 much debt due by the Bankers? And as the value of money is rising rapidly, is not their debt 
 proportionably increased ? 
 
 I ask these questions at the request of some of my neighbours. As for me, my cry now is 
 " Gold FOR EVER ! " and " Atoay with yotir rags," and your "Promises!" — Give me the image and 
 superscription of my Sovereign on good Mint Gold. 1 now hate to see the eternal lie, " Promise to 
 Pay," when no payment is meant ; for if we carry a One Pound Note into a country Bank, all the 
 payment we get is, another " Promise to Pay." 
 
 Aye, we are in a pretty pickle. Money progressively rising in value, and every kind of property 
 falling from the late high standard of value. Nothing can save us but a great reduction of the interest 
 of the debt, (then how will ye weep and howl, ye believers in the stability of the funds and the saving 
 banks ?) or a depreciation of the coin, that wicked, silly, and Turkish expedient — or else a repeal of 
 Peel's famous bill ; which measure by its ruinous and oppressive effects, might either ruin us in war, 
 or excite rebellion at home. Nor would any scheme restore our national prosperity without a reform 
 in that house which has involved us in such complicated and dangerous difficulties. Well, I no longer 
 think Cobbet such a fool or knave as I have been accustomed to call him. Henceforward I will get 
 gold. This will chink but not burn. Every day its value increases ; and when the approaching battle 
 between the fund lords and the land lords is over, my little hoard will yield me ample interest, while I 
 can laugh at the infatuated dupes to the paper bubble. 
 
 I am, dear Bob, 
 
 Your's to command, 
 Alston, December 8th, 1821. PETER PRY. 
 
 Marshall, Printer, Newcastle. 
 
[423] 
 
 The Bank of England and the Country Bankers : 
 
 THREE LETTERS 
 Addressed to the Editor of the Tyne Mercury, under the Signature of Alfred, 
 
 POINTING OUT 
 
 THE DANGER TO BE APPREHENDED FROM THE PROVINCIAL ESTABLISHMENTS 
 OF THE BANK OF ENGLAND, 
 
 AND IN PABTICUIiAH THE INEXPEDIEJICT OP THE ESTABLISHMENT OP A BRANCH OF THE BANK OF ENGLAND IN 
 
 NEWCASTLE-UPON-TYNE. 
 
 TO ISAAC COOKSON, ESQ. 
 
 president of the chamber of commerce of newcastle-upon-tyne. 
 
 Sib, 
 
 Though dedications are somewhat out of fashion, yet I cannot resist the opportunity, which a 
 republication of the following letters affords me, of inscribing them to you. I have long observed the 
 anxious solicitude with which you have watched over the general interests of this town, and I feel a 
 pleasure in recording that, whether as President of the Chamber of Commerce, or as a Vice-President 
 of the Literary and Philosophical Society, your conduct has ever been distinguished by the most 
 liberal, intelligent, and disinterested views. If the following letters, embracing a subject so important 
 as a change of our local currency, should be found in any degree to meet with your approbation, I 
 shall deem myself amply rewarded for any little trouble the composition of them may have cost me. 
 
 April 19, 1828, , ALFEED. 
 
 LETTER I. 
 
 The powerful interests of the Bank of England and the Country Bankers appear now to be 
 coming into active competition ; but whether such competition will be attended with results beneficial 
 or injurious to the public, is a question which calls for the most deliberate enquiry — a question which, 
 it might have been expected, would have excited more attention here than it has done ; for, strange 
 enough to say, the projected establishment of a branch of the Bank of England in Newcastle is looked 
 upon as of no more consequence than the opening of some additional draper's shop in the town. 
 Whence this indifference ? it may be asked. From an idea, probably, that the establishment is likely 
 to be in a great degree inoperative, and that the banking business of this town will continue to be 
 carried on with the same advantage to the public it has hitherto been. Now this I should very much 
 question. For a time, indeed, no material change may be felt ; but ultimately, and perhaps not very 
 distantly, the whole banking business of the country seems in danger of being swallowed up by an 
 overgrown concern. With every advantage in its favour, we see the Bank of England opposed to the 
 country bankers. The Bank of England is a chartered company ; and what are called bank proprietors, 
 
^ [4^4] 
 
 are no more answerable for the debts of the Bank beyond certain amounts of stock than they are 
 answerable for the debts of the Prince of Poyais. Country bankers, on the other hand, are answerable 
 for their engagements to the extent of whatever property they possess. Again : the stamp duties on 
 bills of exchange and promissory notes form, as everybody knows, a very heavy item in a country 
 banker's list of expenses. The Bank of England is, in a great measure, exempt from any such charge. 
 Placed, then, under such disadvantages, can we reasonably expect that, for any length of time, it will 
 be in the power of the country bankers to dispute the field with their adversary ? I take it for certain, 
 that eventually the whole of the banking business of this country, so far at least as regards the issuing 
 of promissory notes to bearer, will be engrossed by the Bank of England. And in this point of view it 
 is, that we are principally called upon to consider the innovation of the Bank of England on the 
 system, so long established, of country banking. If it be said that the institution of branch banks 
 is not with any view of supplanting the country bankers, I should be glad to know with what object 
 they are obtruded on the public ? Is it to give greater accommodation to commerce ; or is it to supply 
 a more secure paper currency ; or (knowing as we all do, the rejection of a proposition to substitute 
 Bank of England notes for the notes of country bankers) is it in the spirit of disappointed gentlemen, 
 
 " Who could not win the mistress, wooed the maid, 
 Set up themselves, and drove a separate trade ? " 
 
 As to the plea of the branch banks affording greater accommodation to trade than the country bankers 
 are in the habit of doing, I must observe, that in the way of discounting, the branch banks propose 
 doiug nothing more than what the bankers in Newcastle are in the habit of doing daily, viz. : 
 discounting all approved bills not having more than three months to run. Ay, but say the advocates 
 of the Bank of England, times have been, and may be again, when the country bankers have been 
 obliged to reject the most unexceptionable bills. Granted. But in what situation, in such periods, 
 was the Bank of England itself? We need only refer to the panic of 1825-6 ; during that alarming 
 crisis, it is notorious that the Bank of England declined discounting what was justly considered the 
 very best paper — paper, I am sure, which no merchant in Newcastle would have had any difficulty at 
 the time in making applicable to his payments in this town. Without at all wishing to be the 
 apologist of the country bankers, I put it to any intelligent man of business, whether, if at the period 
 of which I am speaking, the banking business of this town and neighbourhood had been either 
 exclusively or principally in the hands of a branch of the Bank of England, it would have been possible 
 to have carried on the various commercial, manufacturing, and mining concerns of this important 
 town and district ? I can have no hesitation in saying, it would have been quite impossible ; and in 
 that case, what must have been the picture of distress and ruin in which all classes must have been 
 more or less deeply involved ? I cannot doubt that a very general suspension of the manufacturing 
 and mining operations of the district must have been the necessary result of such a system of banking 
 as we are here contemplating : for reflect only for a moment, that the branch bank would have been 
 guided by the same principle of capricious issues which governed the conduct of the bank itself — that 
 it would have been in the hands of mere agents afraid to deviate from the strict line of their 
 instructions, and incapable, perhaps, either of comprehending, or stating to their principals, the 
 various and complex interests dependent upon them for prompt and liberal support. A system of 
 banking similar to what is practised by the Bank of England, or what I understand to be chalked out 
 for the branch banks, is wholly inapplicable to the commerce of this part of the country. The business 
 of a banker here is not the mere discounting of bills, or the receiving of dividends — he must, and very 
 frequently does, from time to time, grant accommodation to his customers without any tangible 
 security whatever ; and, I may venture to say, were the case otherwise, there are few concerns of any 
 magnitude which, on one occasion or other, would not be inconvenienced. What are the objects of 
 the branch banks ? Simply to discount any good bills that may be offered to them, and to facilitate 
 
[435] 
 
 the receipt of dividends of stock — objects by which they calculate on getting into circulation a 
 quantity of their own paper, to the detriment of the country banker, whose notes to the same amount 
 will be withdrawn, and to the detriment of every man in business, who must look to the country 
 banker alone for any real favour. 
 
 One principle on which the branch banks are conducted, goes directly to discredit the coimtry 
 banker, and to inconvenience the public. The branch banks refuse to take in payment the notes of 
 any country banker who may decline keeping in their hands a sufl&cient sum of money to cover the 
 amount of any notes of his which may happen to be paid in to them. They will not take the country 
 banker's bill at sight upon his banker in London, nor will they trust him for five minutes while they 
 may send to him and obtain payment of his notes in gold or Bank of England paper. No, they must, 
 forsooth, have the money of the country banker previously in their hands, or his notes will not be 
 received ! Now I, a mercantile man, have a bill to pay at the branch bank of £500. The sum I have 
 made up in the notes of the various other banks in the town. I go to the branch bank, and in such 
 currency tender the amount of the bill. Some prig of an agent counts over the money, and says " We 
 shall take £200 of the notes — for the remainder you must bring us our own notes or gold." I must then 
 be sent dancing about the town to get £300 of otherwise unexceptionable notes changed either for gold 
 or paper of the Bank of England — or, which is worse, I must suffer my acceptance to remain unpaid I 
 And all this for the purpose of facilitating general business — for the purpose of restoring the currency to 
 what is called "a healthy state." Good heavens 1 if such is to be the effect of the establishment of a branch 
 bank in this town, whose credit will be safe ; and in what manner is business hereafter to be 
 conducted ? 
 
 So far I have discussed the question in a local point of view — its general bearings remain to be 
 considered. The Bank of England is undoubtedly a very rich establishment ; it has a capital, I 
 think, of about 11 millions, but which has been lent to the government, and of course exists but as a 
 debt due to it from the government. I shall not question the capability of government to discharge 
 its debt to the Bank of England, but I may ask (since one great object of the branch banks is 
 presumed to be security to the public) whether the paper currency of this country, when converted 
 into notes of the Bank of England, would be thought to rest upon any more stable footing than at 
 present, when, instead of resting, as it would do, upon a capital of 11 millions, it is upheld by a capital 
 of at least 50 or 60 millions ? Here, however, we overlook a most important fact. The capital of the 
 Bank of England is already strained to support a circulation exceeding in amount the whole of the 
 paper which the country bankers keep afloat. — Can we doubt then, under all the circumstances of the 
 case, that to substitute the notes of the Bank of England for those of the country bankers, would be, in 
 effect to place the paper currency of the country in a state infinitely less secure than at present ? The 
 capital of the Bank of England is inadequate to the support of a paper currency of 40 millions ; and 
 nothing but sheer cupidity or folly would expose it to the risk with which the experiment must be 
 attended. 
 
 Do away with the coimtry bankers, and what follows ? The exchanges cannot always be kept 
 at, or above par — when below par, demands at all points would be made upon the bank for gold, and 
 the commerce of the whole kingdom would be paralyzed. Would the bank, with a view of favouring 
 the exchanges, adopt the expedient of contracting its issues ? That would be to increase the evil, and to 
 make " confusion worse confounded ; " it would add to the alarm, and by endangering the regularity 
 of mercantile payments, might involve the bank in inextricable difficulties. In a word, we might then 
 really have to witness what Mr. Cobbett fancifully calls the " puff out," or " the death of the old lady 
 in Threadneedle-street." 
 
 Do away with the country bankers, and upon what security but that of the government will the 
 paper currency be made to depend? And in what respect, then, would the paper of the Bank of 
 
[426 J 
 
 England differ from a government paper ? Every one knows the history of a Government paper in 
 America, in Austria, in France, and in Denmark ; iu all which instances the paper became excessively 
 depreciated. And why should a government paper in England escape the fate which has uniformly 
 attended a similar description of paper in so many other countries ? Laying out of the question any 
 demand for gold in consequence of an unfavourable state of the exchange, should we not, on the first 
 disturbance or alarm, have a general demand for gold? And would it, with all the assistance 
 government could render, be in the power of the bank to furnish gold to an extent at all commensurate 
 with the amount of its engagements ? I may venture to say it would not ; and that a depreciation of 
 the currency would be the inevitable result. An opponent may reply, that our present system of 
 banking is liable to the same objections. I say no. I say that under the present system the demand 
 for gold must always be comparatively small. Suspicion may attach to a particular bank, or to the 
 banks in a particular district, but can never extend to country banks in general, while perfectly 
 unconnected, as they are, with each other. A large proportion of provincial notes must, therefore, 
 always remain in undisputed credit ; thus, not only checking and restraining the demand for gold, 
 but affording at the same time to the particular bankers run upon, a most convenient substitute for 
 gold. In fact, as experience has proved, the existing system contains within itself, in a great measure, 
 the means of its own support and renovation. Not so with the Bank of England, when it shall have 
 engrossed the whole circulation. A run upon its establishment at Newcastle could not be met with 
 the notes of one of its other establishments at Northallerton or York. Gold must be found to meet 
 the exigency — no substitute presents itself — and while discredit attaches to the paper of the bank in 
 one quarter, who can estimate the danger of its spreading and convulsing the empire ? 
 
 It is made matter of charge against the country bankers, that they are prone to foster a spirit of 
 over-trading. Nothing, however, can be more groundless than the accusation. Their interests are 
 directly opposed to every scheme of rash or improvident adventure ; and those who are best acquainted 
 with country bankers, will probably agree with me in opinion, that it may very safely be left to themselves 
 to judge of the prudence or imprudence of trusting other people with their money. The charge, 
 however, against them of encouraging a spirit of over-trading, comes with a peculiarly bad grace from 
 the Bank of England, when, in its own transactions, it is about to give an instance of over-trading 
 unexampled in the history of this or any other country. 
 
 For the rest, I shall only observe, that placing in the hands of any body of men identified with 
 government a power so immense as that attendant upon a monopoly or anything approaching to a 
 monopoly of the banking business of this country, is a measure fraught with alarm to the consti- 
 tutional rights and liberties of the people. Whether the government be whig or tory — liberal or 
 illiberal — it must possess, through the agency of the Bank of England and its various establishments, 
 an influence dangerous to the free exercise of opinion, and frustrative of every attempt having for 
 its object the detection of any public abuse. 
 
 I remain, &c., 
 Newcastle, Dec. 1, 1827. ALFRED. 
 
 LETTER II. 
 
 You have informed us, and I dare say correctly, that the Directors of the Bank of England, 
 nothing moved by the representations of the Committee of country bankers assembled in London, are 
 at length making active preparations for the opening of a branch bank in Bailiff-gate, in this town. 
 On whose advice, in this instance, the Directors can have acted, it is difficult to conceive. The 
 bankers themselves cannot have urged the necessity of any such establishment ; nor is it to be 
 
[4^7] __^ 
 
 supposed that any portion of the merchants, manufacturers, or tradesmen of the town, can have been 
 actuated by a wish of seeing introduced here a principle of banking calculated solely to check the free 
 circulation of money, and thus inevitably to injure all classes of the people. The measure would seem 
 to me to bear upon the face of it every appearance of a job undertaken for the advantage of a few 
 hungry and dependent friends of the Bank. But, with whatever view this establishment and others have 
 been projected, the public are bound to look upon them with the utmost jealousy. The clause in the bank 
 charter in virtue of which the right of establishing branch banks in any part of England is claimed, 
 was never until lately considered to admit of any such construction ; if it had been supposed to invest 
 the Directors with a power of unfair competition, as against the country bankers, we may easily 
 imagine that the charter would not from time to time have been renewed without the most pointed 
 and strenuous opposition. It is only, therefore, upon what, at best, had long been a dormant right, 
 that the present very questionable policy of the Bank is founded. I need not inform you, Mr. Editor, 
 or your readers, that the bank charter was originally granted in the reign of William and Mary, and 
 that it was not until a period long subsequent that country banking can be said to have at all existed. 
 Under such circumstances, therefore, that a clause should have crept into the charter incompatible 
 with the rights of private persons, and with the interests of the public, can excite no surprise. I say 
 incompatible with the rights of private persons, because in more respects than one, the Bank of 
 England has advantages which the covmtry bankers have not; and I say incompatible with the 
 interests of the public, because the interests of the public consist only with fair and equal competition. 
 The Bank, however, would seem to say with Shylock — " I stay here on my bond." " I crave the law 1 " 
 
 It can hardly, I think, be doubted, but in the course of the present session a question will be 
 brought before parliament, if not of the right, at least of the expediency of the Bank of England 
 establishing branch banks throughout the country, not with the wishes, but absolutely against the 
 wishes of the trading classes of the people, and without a single reason having been advanced in favour 
 of such an extension of the privileges of the Bank. Surely the enlightened mind of Mr. Huskisson 
 will perceive that where no want of banking accommodation is complained of — where the stability of 
 banking establishments is beyond any rational doubt — and where innovation may do harm, and cannot 
 possibly do good, it must be the height of absurdity to risk an experiment. Upon what ground, 
 practical or demonstrative, it can occur to any man to defend the policy of the Bank, I am unable to 
 conjecture. Lord Bacon tells us, " It is good not to try experiments in states, except the necessity be 
 urgent or the utility evident." Tried by this test, how stands the conduct of the Directors ? What 
 " urgent necessity " has there been for the establishment of Branches of the Bank of England at Leeds, 
 Liverpool, Manchester, Birmingham, and other places, to which the ramifications of the Bank have 
 already been extended ? In none of those places does it appear that the slightest difficulty had been 
 found in discounting approved bills. The branch banks profess to discount no other than good bills. 
 Where, then, was the necessity of any interference ? In fact the business done by the branch banks, 
 wherever they have yet been established, has been of the most trivial amount, and necessarily so from 
 the narrow and cautious principles on which the managers are bound to proceed. Such establishments, 
 therefore, neither having " necessity " nor " utility " to recommend them, ought never to have been 
 put forward as an experiment on the credit and commercial resources of the country. 
 
 We have latterly had before the public many of those schemes expressively called " bubbles ; " 
 but nothing has appeared to me so very strongly in point with the recent measures of the Bank, as the 
 famous " South Sea bubble." The Directors of the Bank — the greater part of them young and 
 inexperienced persons — seem to take it for granted that the issues of the Bank never can be carried to 
 any dangerous extent. Now, what is this but the principle of the Mississippi scheme ? " The idea," 
 says Smith, " of the possibility of multiplying paper money to almost any extent, was the real 
 foundation of what is called the Mississippi scheme, the most extravagant project, hoth of banking and 
 
UfSj 
 
 stock-jobbing, that perhaps, the world ever saw." And yet, after the lapse of more than a century — a 
 period in which the Bank of England, on one occasion, was reduced to the necessity of paying in 
 sixpences ; on another to the necessity of obtaining an act of parliament exempting them from the 
 payment of their notes in cash ; and on another, and that quite recently, driven to an extremity which 
 threatened a general convulsion of credit (the country being said to have been " within forty-eight 
 hours of barter ")— after thus witnessing that the Bank is any thing but invulnerable, that it bears 
 " no charmed life," but yields, as other banks must yield, to force of circumstances, we must needs be 
 doomed to a new experiment on the circulating medium of the country, founded on the not very 
 obvious principle, that the more extended are the issues of the Bank, the more capable will it be of 
 meeting its engagements ! Eeally, to any man of plain understanding, it must appear incredible that 
 the Directors of the Bank of England, who only two years ago were subjected to a run which drained 
 them of almost their last sovereign, should now be taking measures for more than ever increasing their 
 issues — measures which, at the same time, most judiciously multiply the points at which, in a moment 
 of panic, the Bank would be assailable for gold ! 
 
 To the memorial presented to ministers by the committee of country bankers, I see that an 
 official answer has been returned. From that answer, it appears that, with respect to stamps, 
 ministers are willing to place the country bankers on a footing of equality with the Bank of England ; 
 but that they decline adopting the suggestion of the committee for putting down the branch banks. 
 Now supposing the country bankers, with respect to stamps, put upon a footing of equality with the 
 Bank of England, still they must be exposed to a most unfair competition, and a competition the idea 
 of which never could have occurred to them. Country bankers cannot combine, nor would it be for 
 the interest of the public that they should do so ; and yet, singly, as opposed to a chartered company, 
 backed by the government, they must labour under many disadvantages. They are not exempt from 
 liability either in person or property — have no deposits of the public money — and, be the exigency what 
 it will, they cannot have the benefit of a restriction act. These are important considerations, and 
 shew very clearly the injustice of subjecting the country bankers to a rivalship with such an institution 
 as the Bank of England. 
 
 It is said the Directors have relinquished the idea of establishing a branch at Hull, even after 
 having gone so far as to contract for premises in which to carry on the business. But why they should 
 forego a branch at Hull, and cling to a branch at Newcastle is not easy to discover. The Directors 
 must have been strangely misinformed, if they have been given to suppose that any change in the 
 system of banking is wanted here, " and least of all such change as they would bring us." There can 
 be but two grounds of complaint against bankers — either that they do not afford to the public the 
 accommodation they have a right to expect, or that the local currency, supplied by them, is not such 
 as to carry with it implicit confidence. Now I am sure, that in Newcastle no person can experience 
 the smallest difficulty in turning into money any amount of bills, at the ordinary dates, which are 
 esteemed to be good ; and as to the security of the currency, I think it may be very safely affirmed 
 that in no part of the kingdom is the stability of the paper in current circulation more amply 
 guaranteed. Can it then be pique or caprice, or ignorance on the part of the Directors, which induces 
 them to establish a branch in Newcastle in preference to Hull ? Perhaps the enlightened cambist, 
 who is to be entrusted in Newcastle with the exercise of the colossal powers of the Bank, may not 
 think it derogatory to his appointment to afford the public a solution of the riddle. 
 
 From the establishment of a branch bank in Newcastle, so far as the public are concerned, no 
 advantage, evident or remote, has ever been hinted at. In the absence, therefore, of avowed motives, 
 and in great darkness as to any imaginable cause, a writer, who undertakes the defence of our present 
 system of credit, is necessarily made to contend with arguments of a shadowy and fictitious nature. In 
 this, however, and in my former letter on the subject, I have not evaded, nor, I trust, left unrefuted. 
 
[4^9] 
 
 any argument which has occurred to me as being possible to be urged in favour of the establishment 
 here of a branch of the Bank of England. I consider such an institution as a violent experiment on 
 our circulation, demanded by no party, and holding forth no prospect whatever of good. " Let well 
 alone," is an old maxim, but one which, unfortunately, the Directors entirely put aside. In vain we 
 tell them, " We are well, our pulse and complexion prove it — let those who are sick take physic." " 
 yes," reply the Directors, "you may be very well ; but take our draughts, and we assure you you'll be 
 better." Now, this is a doctrine which goes much against the grain with us, and very naturally ; for 
 we have all heard (and we wish to profit from experience) of the epitaph on the poor Italian, who, not 
 content with the enjoyment of good health, would be better, took physic, and died ! If, however, the 
 Bank, reason cr none, will administer medicine to us, we may at least indulge the hope that their 
 practices cannot be of any long duration. The time for monopolies is past. Every man must now see, 
 that all exclusive privileges are for the emolument of a few, at the expense of the many. In a very 
 few years (if I mistake not, in 1833) the charter of the Bank of England will expire, and in the 
 meanwhile it is not to be expected that any minister will be found bold enough (or, which is often the 
 same thing, weak enough,) to propose a renewal of it, except with such alterations as will render it, if 
 not beneficial, yet at least harmless, to the community. 
 
 I remain, &c., 
 
 1st March, 1828. ALFRED. 
 
 LETTER III. 
 " Once more unto the breach- 
 
 Public feeling being at length roused to a sense of the inconvenience and detriment which the 
 proposed establishment of a branch of the Bank of England in Newcastle must inevitably inflict on 
 the commerce and manufactures of this town and neighbourhood, I may venture, without being 
 thought tedious or intrusive, to offer to yourself and your readers, a few additional reasons why 
 it becomes us to oppose, by every means in our power, the threatened innovation of the Bank of 
 England on a system of monied operations which experience has proved to have been eminently 
 conducive to the advantages of this part of the country. Under the existing system of banking, we 
 have seen that the industry and enterprise of the people have received the most effectual support and 
 encouragement. Let any man but look to the important concerns in mining, in ship-building, and in 
 liaanufactures of various descriptions — let any man but look to the activity of commerce, of navigation, 
 and of the general business of retail, as carried on, or to be observed, within a circuit of 15 miles of 
 Newcastle, and the most complete proof must be afforded to him of the efficacy and advantage of our 
 present system of banking.— Yet under these circumstances, and merely to increase the power and 
 patronage of an over-grown establishment, we must be subjected to an experiment of banking which 
 may put to hazard the most important interests of the district. Well might the Chamber of 
 Commerce be unanimous in the adoption of a memorial to the Directors of the Bank of England, 
 setting forth the inexpediency of any interference on the part of the Bank, with a system of credit and 
 currency from which so many, and such important advantages have been derived. The memorial 
 might have gone further, and shewn the positive loss to which manufacturers and others, who have 
 large sums to pay for duties or excise, will unavoidably be exposed. If such payments are to be made 
 in gold, or Bank of England notes, to which, in effect, all such payments, through the establish- 
 ment of a branch of the Bank of England must be reduced, we cannot but expect that private bankers 
 will be obliged to charge a small commission on sums advanced for such purposes. How otherwise are 
 they to be compensated for large advances in gold or Bank of England notes — a description of 
 
[43o] 
 
 currency which they can only procure from London, subject to both expense and risk? Let our 
 merchants and manufacturers who are in the habit of paying large sums to the public boards look to 
 this ; let them consider what even a very small commission on the amount of monies, advanced them for 
 such purposes, may in the course of a year amount to ; and then say whether the establishment of a 
 branch of the Bank of England in Newcastle, is likely to be attended with an augmentation of their 
 profits ? 
 
 Some friend of the branch bank may intimate, that gold or Bank of England notes will be 
 obtainable at the branch bank without any charge in the shape of commission. I admit the fact. But 
 what must be the securities on which the tied-up and timorous agents of the bank will consider 
 themselves justified in giving out gold or Bank of England notes? Bills which, however good they 
 may be, must be sent in by persons previously approved of by the Bank Directors, and which in no 
 case will be taken with less than two responsible names to them. Now I, who am a manufacturer and 
 subject to the excise — who have my customers in London or some other distant part of the kingdom, 
 and can only receive payment in bills which I must draw upon them — am reduced, as often as I have 
 money to pay the excise, to a strait of this kind, I must either beforehand send my bills for 
 acceptance, and thus subject myself both to expense and inconvenience, or I must submit to the 
 payment of that commission which the Newcastle bankers, in discounting for pa) ments to the excise, 
 find it necessary to impose. Whether, therefore, in future, I apply to a Newcastle banker or to the 
 branch bank for discounts to meet such part of my payments, it is quite clear that, from the conflicting 
 interests of the rival establishments, I must be a sufferer. Manufacturers, ye, who have large sums to 
 pay to the crown, look to yourselves ! 
 
 The projected branch will not however be more injurious to a large class of our manufacturers, 
 than to the great body of the coal-owners ; and therefore I should say it equally behoves the coal- 
 owners to take into consideration the best means of averting a measure so generally obnoxious. Let 
 the Bank of England but once obtain a footing here, and the coal-owners need trouble themselves no 
 further about any regulation of their vends. Coals must be raised, or the concerns must be laid in. 
 There is no such thing as going " on tick " with the Bank of England ; and the resources of the 
 private bankers will be found to have their limits. My firm conviction is, that the establishment of a 
 branch of the Bank of England in Newcastle will be a death-blow to the coal trade of this district. 
 It requires no conjuror to point out " the why and wherefore." But I leave the coal-owners 
 themselves to follow out these hints. Apathy must be their ruin. 
 
 The Directors are above assigning any motive for the proposed establishment. We must suppose, 
 however, that their object is either profit to the Bank or accommodation to the public. If profit to the 
 Bank — I think it must be evident to all that the experiment will end in disappointment ; the expenses 
 of the establishment must eat up every shilling of profit. If public accommodation is the object — 
 then I say that the ear of the Directors has been grossly abused. They must have had impressed upon 
 their minds an idea that the established banks are insufficient for the support and extension of our 
 commerce ; an idea for which not the slightest foundation exists. Who the worthy parties are who 
 have had so much influence with the Bank we may by and by know ; but in the meanwhile no person 
 I think can doubt that the measure in question savours strongly of a job. Job, do I say ? Why, even 
 the fitting up of the bank premises must be a job, or why send workmen from London for the purpose ? 
 Have we not in Newcastle bricklayers, joiners, and other handicrafts, capable of converting a few rooms 
 and cellars of a house to the purposes of a bank? But the very pens and ink, I understand, will be sent 
 from London to swell the account of some favoured stationer in town. Whether the Bank, in its 
 wisdom, will " send coals to Newcastle," is not yet determined. 
 
 The folly of establishing a branch in Newcastle is only to be equalled by the mischief to which 
 it may give rise. " Discontent," it has been well observed, " is the child of distress, and distress is the 
 
[431] 
 
 daughter of ill-timed experiment." Take away from the Newcastle banks the power of occasionally 
 assisting manufacturers and others in their business, and the most frightful check may be given to the 
 labouring employment of the place. True, says a friend of the branch, if any friend here it has — but 
 why should the establishment of a branch lessen the power of the Newcastle banks to accommodate 
 trade ? I say for an obvious reason. The branch bank will be sure to get into circulation a certain 
 amount of its paper — thus displacing an equal amount of the notes of the other banks, and diminishing 
 to the same extent the power of the Newcastle banks to support the various undertakings of the 
 district. But this is not all ; for the branch bank not complying with the usual rule of exchanging notes 
 once a week with the other banks, and then paying or receiving any balance by bills at sight upon 
 London,* must impose upon the Newcastle banks the necessity of keeping by them, unemployed, a 
 much larger sum in gold or Bank of England notes than would otherwise be required ; and then again, 
 from the uncertainty of the channel through which notes may be brought into them for payment, 
 they must constantly have funds both lure and in London for the liquidation of their notes. Under 
 such circumstances, the available power of the Newcastle banks may be contracted in a degree much 
 exceeding the proportion of their paper thrown out of circulation ; and thus the injury which a branch 
 bank may do the business of the place is almost incalculable. 
 
 A friend of mine talking lately with a Bank Director, and telling him of the inconvenience which 
 people in business here apprehended might result from the institution of a branch bank, was very 
 gravely assured that " in Newcastle the trading part of the community could have nothing to fear 
 from the measure, for that happen what would, they would still have the Scotch banks to fly to for 
 assistance." A most comfortable assurance truly I But can any man, not a Bank Director, for a 
 moment suppose that if from the annoyances of the branch bank, our own bankers should be induced 
 to withdraw the whole of their notes from circulation, that almost a single note of any description 
 would afterwards circulate in the district ? And in this case should we not be forfeiting all the 
 advantages which are admitted to arise from the use of a paper currency ? On a principle, as between 
 borrower and lender, of mutual advantage, the notes of the Newcastle banks are continually being put 
 into circulation, and though every note issued by a banker is destined to return to him, and that often 
 very quickly, yet where, as in Newcastle, a perfect confidence exists that the notes of the various banks 
 may at any time be converted into gold or Bank of England paper, an amount of notes adequate to all 
 the purposes of trade we may easily suppose will steadily remain in circulation. But would it be 
 possible to substitute for such a currency, either the notes of the Scotch banks, or the notes of a branch 
 of the Bank of England ? Admitting the cautious Sandy would, upon our own terms, deal with us 
 southerans, (" ask where's the north ' — at York 'tis on the Tweed,") the circumstance of the Scotch 
 notes not being payable in Newcastle, would operate as an effectual check to their circulation ; and as 
 to the notes of the branch bank, seeing that the public can never have any interest in common with 
 that establishment, there would be wanting on the part of the public that great and constant impulse 
 to circulation, without which, every effort of a banker to keep in circulation any considerable amount 
 
 * While country bankers adhere to this rule, it appears to me that no danger is to be apprehended from what is 
 called " an over-issue of paper." Under given circumstances, we may fairly assume that a certain amount of 
 paper is regularly kept in circulation. Let us suppose that a banker in Newcastle is desirous of increasing his 
 issues. He must at once perceive that his ordinary channels of circulation are incapable of taking off any 
 additional amount of notes. The manufacturers and coal-owners are the great means of circulating notes ; they 
 require, however, but a certain sum for their regular payments, and in general cannot be induced to take more. 
 Through such channels, therefore, a banker cannot lay his account for increasing his issues. What remains for 
 him? He must give out his notes to be employed in some casual transaction, a case in which they are almost 
 sure of being returned to him, through some other banker, at the end of the week, to the necessary defeat of his 
 object. It seems then to be clear, that so long as country bankers adhere to the rule in question, and so long as 
 their notes are convertible into gold on demand, or subject to any other fixed test of value, there can be no 
 ground of apprehension from what is termed an over-issue of paper— that in fact, under such circumstances, an 
 over-issue cannot exist. 
 
[43^] 
 
 of his paper must be utterly unavailing. If then, our present system of currency is to be abrogated, 
 nothing will be left for us but to revert to a course of metallic payments, the consequences of which to 
 the commercial and agricultural interests of this part of the country I leave any man to determine. 
 But the intelligent Directors of the Bank tell us " they can see no reason to alter their intention 
 of establishing a branch in Newcastle." They must, then, really wish to put down all paper currency 
 but their own, and they must bo weak enough to suppose that people here will be so enamoured of 
 their notes as to 'prefer them to gold ; for upon no other principle in Newcastle, where there are no 
 means of forcing the notes of the branch bank upon the public except through the payment of a few 
 dividends of stock, can there be a possibility of such notes ever becoming the general circulating 
 medium of the place. The Directors, in telling us " that they see no reason for altering their 
 intention," might have gone a little farther, and told us what it was that first prompted their 
 interference. They very carefully, however, abstain from giving reasons. With all the badgering 
 which the Governor underwent at the late half-yearly court of proprietors, little more could be obtained 
 from him, in justification of the provincial establishments of the Bank, than that banking was their 
 business, and that they had a right to make the most of their business ; which I consider to be just 
 as conclusive as Falstaff's defence of purse taking, " Why, Hal, 'tis my vocation, Hal ; 'tis no sin for 
 a man to labour in his vocation ! " 
 
 One observation of the Governor is particularly deserving of attention. " What he," the 
 Governor, " was most desirous of saying was this, that they (the Bank) would go only where their 
 assistance was called for, and where they thought upon due consideration they could be beneficial." 
 Now, to such a rule for the guidance of the Bank, no person could have objected. But has it been 
 attended to as regards the establishment of a branch in Newcastle ? Has such an institution been 
 " called for " by any class of persons here whatever, or even by a single individual of credit and 
 respectability in the place ? I may fearlessly assert that the Bank has never been called upon, never 
 advised by any person (not shadowing to himself employment from the Bank) to interfere with the 
 existing banking establishments of this town. For long after the first intimation of the intention of 
 the Bank to establish a branch in Newcastle, the thing was treated as quite a visionary scheme — as a 
 complete joke, indeed ; people felt that in their money transactions they were as well off as they could 
 be, and they supposed that the Bank had enough to attend to without troubling themselves with an 
 unpopular and profitless concern at Newcastle. 
 
 It seems, however, now, that the resolution is finally taken to open what the Governor calls " a 
 shop " in Newcastle — a shop which will have the singular distinction of being the only one in the town 
 in which the notes of the Newcastle banks are refused in payments. With all deference to the 
 Governor, I look upon a shop conducted on such a principle as an insult to the town. 
 
 Adieu, Mr. Editor, I have already trespassed upon your columns at much too great a length, 
 but the importance of the subject must plead my excuse. 
 
 March 29, 1828. ALFRED. 
 
[433] 
 
 INDEX. 
 
 Abbott, John & Co., Gateshead, 329. 
 
 Abbott, John, Gateshead, requests that Messrs. 
 Lambton remain a private bank, 252. 
 
 Abbot, W., formation of the North-Eastern Bank- 
 ing Co., 328. 
 
 Abbs, Cooper, panic of 1808 ; formation of a 
 guarantee fund, 275 ; panic of 1798 ; support of 
 Durham Bank, 308. 
 
 Aberdeen Branch Bank of Scotland, 7. 
 
 Aberdeen, the Banking Co. of, 8. 
 
 Abolition of issue of notes for £30, £40, & £500, 208. 
 
 Acts paseed restraining the issue of notes under 
 £6, 82 ; suspension of, 32 ; in 1797 allowing 
 issue of notes under £5 in England, 67 ; in 
 180 1 limiting life of a country bank note to 
 three years; relating to five shilling dollars 
 renewed, 74 ; in 1817 restricting use of dollar and 
 tokens issued by Bank of England, 74 ; regarding 
 the value of gold, 76 ; re license to issue notes, 
 76 ; restraining the issue of one pound notes, 
 98 ; opposition to, 98 ; in 1844 dividing Bank of 
 England into issue and banking. 111; in 1844 
 to regulate the issue of bank notes, quotations 
 from. 111 ; prohibiting lotteries, 126; compelling 
 the withdrawal of all bank notes under £5, 205 ; 
 to encourage the establishment of Savings' 
 Banks, 366. 
 
 Adair, Wm., panic in Newcastle, 49. 
 
 Adams, Alex., panic in Newcastle, 505. 
 
 Adams. A., Report of Com. of Investigation into 
 the affairs of Messrs. Burdon, Forster, & Co., 269. 
 
 Adamson, Robert, support of Durham Bank, 308. 
 
 Addendum, 418. 
 
 Addington, Wm., robbery of Mr. R. Burdon, 386. 
 
 Addison, John, Borrowby, 141. 
 
 Addison, Robert, Wallworth, 141. 
 
 Addison, William, support of Durham Bank, 308. 
 
 Agra Bank, the, 213. 
 
 Airey & Gibson, panic in Newcastle, 49. 
 
 Airey, Hy., panic in Newcastle, 29. 
 
 Airey, Jonathan, panic in Newcastle, 29. 
 
 Airey, Joseph, Old Bank, 174, 177, 189 ; treasurer 
 of the N/c. Infirmary, 190 ; death of, 178, 190. 
 
 Aiskell, Henry, loss of bank notes, 188. 
 
 Aitkinson & Hall, panic in Newcastle, 29. 
 
 Akenhead, David, 372. 
 
 Akenhead, John, formation of the Newcastle 
 Savings' Bank, 366. 
 
 Akroyd, Colonel, suggestion of Yorkshire Penny 
 Bank, 417. 
 
 Alcock, Giles, panic in Newcastle, 29. 
 
 Aldam, Mr., executor of Robert Ormston, 159. 
 
 Alderson, James, Coatham, 141. 
 
 Alderson, Baron, trial of Bolam for the murder, 
 Savings' Bank, 371. 
 
 Alexander, Barbara, 419. 
 
 " Alfred " and his letters against Branch Bank of 
 England in Newcastle, 203. 
 
 Allan, George, married daughter of George Prescott 
 of Darlington, 364. 
 
 Allan, Robert, affairs of Messrs. Cooke & Co., 231. 
 Allan, Robert, Sunderland Bank, 362, 363, 364; 
 
 married daughter of Robert Harrison of Sunder- 
 land, 364 ; died, 364. 
 Allan, Robert, married daughter of William 
 
 Havelock of Sunderland, 364. 
 Allard, John, London, consignments of tokens 
 
 sent to, 75. 
 Allen (Hagues, Strickland, & Allen), 279. 
 Allhusen, Mr., suspension of the District Bank, 343. 
 Alliance Bank, Limited, London Agent for the 
 
 Industrial Bank, Limited, 295. 
 Allinson, W., Hagues, Strickland & Allen, 279. 
 Allison & Nesham, Darlington, 237. 
 Allison, Henry, formation of Joint Stock Bank, 
 
 Darlington, 237. 
 Allison, John (Backhouse & Co.), Durham, 145. 
 Allon, W., 419. 
 Alnwick & County Bank, purchase of the, by 
 
 North Eastern Banking Co., Ltd., 133, 330. 
 Alston, W,, support of Durham Bank, 308. 
 Altham, Roger, Doctor's Commons, 398. 
 Althorp, Lord, charter of the Bank of England, 
 
 108, 109, 115. 
 Amount of bank notes paid in at Branch Banks of 
 
 England, by country bankers, account of the, 215. 
 Amount of coin transmitted to the Branch Banks 
 
 of England, account of the, 215. 
 Amount of coin transmitted from Branch Banks 
 
 of England to London, account of the, 215. 
 Amount received at each of the Branch Banks 
 
 of England for interest on bills discounted, 
 
 account of the, 216. 
 Anderson, Charles William (Dale & Co.), 233. 
 Anderson, Edward, panic in Newcastle, 29. 
 Anderson, Geo., panic in Newcastle, 29. 
 Anderson, Sir James, formation of the North 
 
 Eastern Banking Co., 328. 
 Anderson, M., auditor of the Savings' Bank, New- 
 castle, 369. 
 Anderson, Matthew, 419. 
 Anderson, John, jun. (Davison-Bland & Co.), 239, 
 
 262 ; retired, 259 ; purchased Coxlodge Hall, 262 ; 
 
 died, 262. 
 Anderson, Robert, appointed sub-agent Newcastle 
 
 Branch Bank of England, 207 ; agent, 210 ; sus- 
 pension of the District Bank, 211 ; death, 211. 
 Anderson, Robert, support of Durham Bank, 308. 
 Anderson, Robert, hon. sec. Newcastle, Shields, and 
 
 Sunderland Union Joint Stock Bank, 320, 322. 
 Anderson, Wm., Newcastle, 136. 
 Anderson, Wm., suspension of the Union Bank, 
 
 323, 325. 
 Anderson, W. J., director of the Swaledale and 
 
 Wensleydale Banking Co., 401. 
 Andrews, Nich., panic in Newcastle, 49. 
 Angas, Caleb, Newcastle, 104, 106; Newcastle 
 
 Chamber of Commerce, 202. 
 Angas, George Fife, 104 ; formation of National 
 
 Provincial Bank of England, 106, 313, 314. 
 
[ 434 ] 
 
 Angas, John, Dotland, 104. 
 
 Angles, Henry, Sadberge, 141. 
 
 Angus, Wm., Prov. Com. of the Newcastle, Shields, 
 
 and Sunderland Union Joint Stock Bank, 320. 
 Appleby, Clement, 419. 
 Appleby, Robert, 418. 
 Appleby, Thomas, 418. 
 
 Appleby, William, support of Durham Bank, 308. 
 Applegarth, J., jun., Staindrop, 136. 
 Archbishop of Canterbury, The, 221. 
 Archbold, James, Director of the Newcastle Sav- 
 ings' Bank, 367. 
 Arkenwaldus and William, 16. 
 Armstrong, Henry, manager Sunderland Branch 
 
 Newcastle Joint Stock Bank, 322, 323. 
 Armstrong, John, 419. 
 Armstrong, Mr., formation of the Newcastle 
 
 Savings' Bank, 366. 
 Armstrong, W., Newcastle Chamber of Commerce, 
 
 98, 201, 202. 
 Arnitt, Francis, agent for Messrs. Raper, Swann, 
 
 & Co., Thirsk, 361. 
 Arrowsmith, Stephen, support of Durham Bk., 308. 
 Arrowsmith, Wm., Sherburn, 141. 
 Arundale, Jos., Prov. Com. of the Newcastle, 
 
 Shields, and Sunderland Union Bank, 320. 
 Ashburton, Lord, debate on the speech of T. E. 
 
 Headlam, Esq., M.P., 115. 
 Ashton, William, agent Pickering Branch of 
 
 Messrs. Hague, Strickland, & Allen, 279. 
 Ashworth, David (Davison-Bland & Co.), 129, 239, 
 
 240, 241, 242, 260 ; retired, 239 ; death, 244. 
 Askew, Richard C, formation of the Newcastle 
 
 Joint Stock Banking Co., 319 ; formation of the 
 
 Newcastle Savings' Bank, 366. 
 Astlett, Robert, fraud upon Bank of England, 139. 
 Assay Office established, 23. 
 Assignats, issue of, 61. 
 Athelstane, Royal Mint at York, 14. 
 Atkinson, Geo. and Matthew, exchangers, 31. 
 Atkinson, Brothers, panic in Newcastle, 49. 
 Atkinson & Rudman, Newcastle, 136. 
 Atkinson, Charles (Forster, Burrell, & Co.), 49, 
 
 158, 266, 267, 272, 273 ; eleccted Sheriff of New- 
 castle, 272 ; Mayor, 272 ; married daughter of 
 
 Jas. Moncaster, Esq., 272; tragic death, 272. 
 Atkinson, James, panic in Newcastle, 49, 136. 
 Atkinson, Matthew, Sunderland Bridge lottery, 391. 
 Atkinson, Thomas, 288. 
 Atkinson, Thomas, Prov. Com. of the Newcastle, 
 
 Shields, and Sunderlaud Union Bank, 320, 322. 
 Atkinson, Wm., the Tontine Scheme, 391. 
 Attwood, Charles, director North of England Joint 
 
 Stock Banking Co., 331. 
 Attwood, Mr., formation of Provincial Bank of 
 
 Ireland, 105. 
 Attwood, Mr., Com. of Secrecy, Bank of England 
 
 Charter, 108. 
 Atty, Commercial Bank, Stockton, 379. 
 Aubone, Wm., Mayor of Newcastle, 395. 
 Audus, Jas., director of the Yorks. Banking. Co., 414. 
 Austin, Lieut.-General, director North of England 
 
 Joint-Stock Banking Co., 331, 332. 
 Auty, Daniel, tried for clipping money, 123; death 
 
 of, 124. 
 Auburn, William, 418. 
 
 Audos, Hugh, Bishopwearmouth, 364. 
 Average amount of bills under discount at each of 
 the Branch Banksof England, account of the, 215. 
 Aynslev, Lord Charles, suspension of banks, 66. 
 Aynsley, W. H., 419. 
 
 Backhouse & Co., Darlington, 54, 57, 58, 75, 103, 
 134, 205, 230, 263, 264, 266, 287, 306, 316, 359; 
 particulars of gold remitted by, to London 
 agents, 59 ; conspiracy against, 80 ; particulars 
 of note issue allowed by the Act of 1824, 112 ; 
 Associate of Country Bankers, 120 ; names of 
 customers of, 136 ; extracts from day book of, 
 136 ; forgery of five guinea notes of, 138 ; note 
 issue of, 139 ; confidence in, 140 ; declaration 
 of confidence in, 140, 141; conspiracy against, 
 142, 147 ; reward offered for information of 
 such conspiracy, 142, 147; custom of procuring 
 gold from London in case of demand, 142 ; first 
 current account at Durham opened, 143 ; form 
 of cheque used at Durham, 143 ; loss of notes, 
 
 144 ; run upon bank, 144 ; open a branch in 
 Newcastle, 145 ; Stockton, 145 ; South Shields, 
 
 145 ; Darlington Bank, fears of a run upon, 146 ; 
 declaration of confidence in, 146 ; transfer of 
 Newcastle branch to District Bank, 147, 336, 
 337 ; transfer of Sunderland and South Shields 
 branches to District Bank, 147 ; issue of balance 
 sheet, 147, 154 ; attempts by Lord Darlington 
 to break the bank of, 148 ; celebration of cen- 
 tenary of, 148 ; run upon, 149 ; past partners of, 
 150; purchase of premises of Mowbray, 
 Hollingsworth, & Co., 356 ; " banking shop," 54. 
 
 Backhouse, Alfred, photo of, 150. 
 Backhouse, Dorothy, Lancaster, 136. 
 Backhouse, Edward, photo of, 150 ; auto, of, 152. 
 Backhouse, Edward, photo of, 150 ; auto, of, 152. 
 Backhouse, E., and his liability to pay in gold, 
 
 143 ; rumours regarding stability of bank, 144 ; 
 
 Stockton and Darlington Railway, 153. 
 Backhouse, Edmund, first knowledge of banking, 
 
 154; marriage with Miss Julia M. Fox, 154; 
 
 first M.P. for Darlington, 154; on Com. of 
 
 Ass. of Eng. Country Bankers, 120 ; photo of 154. 
 Backhouse, James, 97, 108, 109. 
 Backhouse, James (Backhouse & Co.), 134, 136, 138. 
 Backhouse, James, agent to Royal Exchange 
 
 Assurance Co., 134 ; autograph of, 152; Stockton 
 
 and Darlington Canal, 230. 
 Backhouse, James, autograph of, 152. 
 Backhouse, Jas. E., 154 ; photo of 154. 
 Backhouse, John, photo, of, 150 ; auto, of, 152. 
 Backhouse, John Church, photogragh of, 150; 
 
 autograph of, 152. 
 Backhouse, John Henry, photograph of, 150; 
 
 autograph of, 152. 
 Backhouse, Jonathan (Backhouse & Co.), 134, 138 ; 
 
 letter from, to his father, 135, 361 ; photo, of, 
 
 150 ; auto, of, 135 : Stockton and Dar. Canal, 230. 
 Backhouse, Jonathan, defeats Lord Darlington's 
 
 attempt to break the bank, 148 
 Backhouse, Jonathan, and the "Commercial;" 
 
 story of, 149. 
 Backhouse, Jonathan, sketch of life of, 153 ; 
 
 formation of the Stockton and Darlington 
 
 Railway, 153, 346 ; photograph of, 150. 
 
[435] 
 
 Backhouse, Jon. E., 154; photograph of 154. 
 
 Backhouse, Thomas, York, 147 ; and the Stockton 
 and Darlington Railway, 153. 
 
 Backhouse, Thomas, director of the York City and 
 County Banking Co., 409. 
 
 Backhouse, William (Backhouse & Co.), 135, 145. 
 
 Backhouse, William, photo of, 150 ; auto, of, 152. 
 
 Backhouse, William, photo of, 150 ; auto, of, 152, 
 
 Bacon, Charles, Styford, 158. 
 
 Bagehot, Walter, " Lombard Street," 55. 
 
 Bailey, John (Mowbray & Co.), 310. 
 
 Bailey, John, Chillingham Castle, affairs of 
 Surtees, Burdon & Co., 390. 
 
 Bainbridge, John D., support of Durham Bank, 308. 
 
 Bainbridge, Joseph, bankruptcy of Messrs. Surtees, 
 Burdon, & Co., 391 ; Tontine scheme, 391. 
 
 Backhouse family, pedigree of the Bank partners of 
 the, 151 ; signatures of the bk. partners of the, 152. 
 
 Bainbridge, Wm., liquidator District Bank, 343. 
 
 Baker, Hedley, & Co., " Tyne Bank," Newcastle, 
 57, 156 ; early method of " clearing," 118. 
 
 Baker, Hedley, & Co., suspend payment, 156 ; 
 resume cash payments, 156 ; suggested amal- 
 gamation with Lambton & Co., 157 ; panic in 
 1797, payment suspended, 157. 
 
 Baker, Loraine, & Co., Tyne Bank, 242; panic in 
 Newcastle, 1793, confidence in, 247 ; suspension 
 of payment, 247 ; re-opening of, 248 ; make 
 overtures to Messrs. Lambton & Co. for amalga- 
 mation, 248 ; reply of Messrs. Lambton & Co., 
 248 ; scarcity of gold in Newcastle, 248 ; meet- 
 ings held in support of local banks, 248. 
 
 Baker, Shafto, & Co., Newcastle, 136, 187, 304. 
 
 Baker, Shafto, Ormston, Cutbbert, and Lamb, 
 33, 155 ; issue of notes of, 155 ; forgery of notes 
 of, 155 ; changes in partnership of, 156. 
 
 Baker, George (Bakei, Shafto, Ormston, & Co.), 
 155, 156, 157, 160, 248 ; High Sheriff of North- 
 umberland, 161 ; death of, 161. 
 
 Baker, John (Baker, Shafto, Ormston, & Co.), 155, 
 158 ; marriage with Miss Read, of Hereford, 158 ; 
 Sheriff of Newcastle, 158 ; erected " Tynemouth 
 House," 158 ; Mayor of N/c, 159 ; death of, 159. 
 
 Balmer, George, 419. 
 
 Bank in Newcastle, The, 239, 240. 
 
 Bank of Dundee, 56 ; statement of circulation and 
 deposits, 56. 
 
 Bank of England, 65, 103, 113 ; narrow escape of, 
 44 ; better protection of, 45 ; refuse paper of 
 Lane, Son, and Eraser, 48 ; cash payments pro- 
 hibited, 66 ; issue of £1 notes, 67 ; issue of £2 
 notes, 67 ; exchange of tokens, 74 ; issue of 
 silver tokens, 74 ; issue of Spanish dollars, 74 ; 
 increase of forgeries on, 80 ; Directors blamed 
 for the forgeries, 80 ; Directors exonerated from 
 blame for forgeries of, 80; suppression of £1 
 and £2 notes, 86 ; decrease in bullion, 91 ; 
 resumption of cash payments, 91 ; issue of £l 
 and £2 notes, 92 ; blamed for panic, 93 ; 
 relinquishes its exclusive privileges, 93 ; to 
 establish branches, 93-95 ; Branch Banks, 
 differences of opinion amongst Directors, 97 ; 
 Charter of the, 108 ; Committee of Secrecy to 
 report upon it, 108 ; Charter of 1832. Meetings 
 of country bankers, 109 ; Governor and Co. of the, 
 purchase offices of the District Bank, 110; 
 
 divided into " Issue " and " Banking, " 111 ; 
 issue of notes allowed by the Acts, 112 ; branch 
 circulation 113 ; lottery tickets issued by, 
 126 ; serious fraud upon, 139 ; resume cash pay- 
 ments, 144 ; nimiber of country bankers who 
 act with notes of, 217 ; forgeries, formation of 
 Parliamentary Committee, 80 ; report of Parlia- 
 mentary Committee, 80 ; forgeries, numerous 
 executions, 80 ; forgeries, action of Bank de- 
 nounced by Black Dwarf, 81 ; forgeries, cost 
 of prosecution, 81 ; forgeries, press denounce 
 number of prosecutions, &c., 81 ; forgeries, 
 action of officials criticised, 82 ; forgeries, 
 action of the Society of Arts, 82. 
 
 Bank of London, London agents, London and 
 Northern Bank, Newcastle, 301. 
 
 Bank Notes, announcement regarding, 165 ; no 
 record kept, 76. 
 
 Bankers' Clearing Association, instituted in New- 
 castle, 117, 119 ; early method of clearing, 117 ; 
 extended to country clearing, 120. 
 
 " Bankers' Magazine " on " Clearing," 119 ; ex- 
 tracts from, 206 ; extract from an obituary notice 
 of Robert Spence, 286. 
 
 Banking on joint-stock principle. North of England, 
 introduction to, 102. 
 
 Banks, Jos., forgeries on Bank of England, 8, 80. 
 
 Barclay, Tritton, Bevan, & Co., London, 144, 395, 
 197, 264, 311, 395. 
 
 Barclay & Co., Agents for Stapleton & Co., Rich- 
 mond, 297 ; Simpson, Chapman, & Co., 376. 
 
 Bargate, George, director of the Newcastle Union 
 Joint Stock Bank, 324, 325. 
 
 Baring Bros., Liverpool, 218. 
 
 Baring, A., Com. of Secrecy, Bank of England 
 Charter, 108. 
 
 Barker & Wolfall, panic in Newcastle, 29, 49. 
 
 Barker, Christopher D., Woods, Parker, & Co., 
 406 ; retired, 407 ; photograph of, 408. 
 
 Barker, Matthew, panic, 275. 
 
 Barker, R., 419. 
 
 Barker, Thomas, Prov. Com. Union Bank, 320; 
 suspension of the Union Bank, 323, 324 ; 
 winding up of the Union Bank, 325; Woods, 
 Parker, & Co., 406; retired, 407 ; photo of, 408. 
 
 Barker, Thomas W. , Woods & Co. , 407 ; photo of, 406. 
 
 Barker, W. J., formation of the Sunderland Joint 
 Stock Bank, 383. 
 
 Barkworth, Harold (Bower, Dewsbury, & Co.), 
 199 200. 
 
 Barnby, J.' (Hagues, Strickland, & Allen), 279, 280. 
 
 Barnes, Mr., surgeon, riot at Sunderland, 74. 
 
 Barnes, Ambrose, MS. of, presented to Lit. and 
 Phil. Society, Newcastle, 190. 
 
 Barnes, George, director of the Nat. Prov. Bank 
 of England, 314. 
 
 Barnes, Mr. (Backhouse & Co.), Durham, 145; 
 Barnard Castle Branch Darlington District 
 Banking Co., 238. 
 
 Barnes, Robert, general manager of the York City 
 and County Banking Co., 410. 
 
 Barnes, Thomas, manager of the York City and 
 County Banking Co., 409. 
 
 Barnes, William, guarantee of notes, 418. 
 
 Barnett & Co., London agents of the Yorkshire 
 Banking Co., 415. 
 
[436] 
 
 Barnett, Hoare, & Co., London, 129, 255, 285, 409. 
 
 Barnett, Robert, Blackheath, 285. 
 
 Barnett, William Edward, (Hodgkin & Co.) 284, 
 285 ; died, 285 ; photo of, 285. 
 
 Barr, T., Stokesley Branch Darlington District 
 Banking Co., 238. 
 
 Barras, Samuel, support of Durham Bank, 308. 
 
 Barrington, Bishop, 262. 
 
 Barrington, George, support of Durham Bank, 308. 
 
 Barrington, Right Hon. Lord, 91, 105. 
 
 Barry, James, support of Durham Bank, 308. 
 
 Barstow, Thomas, director of the York City and 
 County Banking Co., 409. 
 
 Bartleman, Alex., guarantee of notes of, 418. 
 
 Base Coinage, 22. 
 
 Batson, Berry, & Co. (Northumberland Bank), 129. 
 
 Batson & Bennington (Rennington & Co.), 129. 
 
 Batson, Berry, Langhorn, & Wilson, 162 ; 
 failure of, 162. 
 
 Batson, Berry, & Wilson, 311. 
 
 Batson, Stephenson, & Co., 129. 
 
 Batson, Stephenson, Grace, & Glover, 129. 
 
 Batson, Reed, & Co. (Northumberland Bank), 129, 
 
 Batson, Wakefield, & Scott, 46, 163, 164, 181, 
 353 ; panic of, 69 ; guarantee of notes of, 418. 
 
 Batson, J. R., director of the Savings' Bank, 367. 
 
 Batson, Richard (Shadforth, Batson, & Co.), 163. 
 
 Batson, Thos., dissolution of partnership, 71. 
 
 Batson, T. R., debtor to Tweed Bank, 162 ; North- 
 umberland Bank, 163, 164, 172 ; elected an 
 alderman of Newcastle, 172 ; elected managing 
 director Northumberland Joint Stock Bank, 172, 
 331, 332 : appointed director of new Gas Co., 
 172 ; untimely death of, 172. 
 
 Batson, Wm., counterfeit coinage, 43 ; dissolution 
 of partnership, 71 ; Shadforth, Batson & Co., 
 163; North'd Bank, 163, 164, 190; one of the 
 first men to employ Richard Grainger, 170 ; death 
 of, 170; affairs of Surtees, Burdon, & Co., 390. 
 
 Batson, Wm. Smith, Tweed Bank, 162 ; Northum- 
 berland Bank, 163, 164, 171 ; death of, 171. 
 
 Baxter & Co., Darlington, 87, 173; suspension 
 of payments of, 93 ; failure of, 174. 
 
 Baxter, John, 173 ; enters bank of Sir M. W. 
 Ridley & Co., 173 ; autograph of, 174 ; failure 
 of, 174 ; married Miss Robinson, 174 ; Lumley, 
 Wilkinson, & Co., 305. 
 
 Bayley & Newby, Stockton, 313. 
 
 Baynes, Geo., auditor for the Union Bank, 325. 
 
 Beall, Mary, 419. 
 
 Beaumont, Somerset A. (Davison-Bland & Co.), 
 239 ; retired, 239. 
 
 Beaumont, William, director of the Northumber- 
 land & Durham District Bank, 836 ; director of 
 the Newcastle Savings' Bank, 867. 
 
 Beckett & Co., York, 199, 200; purchase of the 
 York Bank, 352. 
 
 Beckett, E. W., (Bower, Dewsbury, & Co.), 199, 200. 
 
 Beckett, William (Bower, Dewsbury, & Co.), 200; 
 died, 200. 
 
 Beilby & Bewick, Engravers, 186, 280 ; Newcastle, 
 351. 
 
 Bell, Cookson, Garr, & Airey, 24, 136, 174. 177, 362 ; 
 issue of tickets for the State Lottery, 128; 
 balance sheets of, 178. 
 
 Bell, Cookson, Carr, Widdrington, & Saint, 29. 
 
 Bell, Woodali, & Co., Scarborough, 57; statement 
 
 of note issue, deposits, &c., 57; 196 | issue of 
 
 notes of, 196 ; account of note issue of, 196, 197 ; 
 
 " Old Bank," 197 ; 405. 
 Bell, M. & J., guarantee of notes, 419. 
 Bell, Edw., sale of estates, 169. 
 Bell, Elisha, guarantee of notes, 419. 
 Bell, Elizabeth, guarantee of notes, 419. 
 Bell, Errington, stoppage of the Union Bank, 323. 
 Bell, Hugh, guarantee of notes, 418. 
 Bell, James, affairs of Messrs. Surtees, Burdon, 
 
 & Co., 890. 
 Bell, John, panic in Newcastle, 29. 
 Bell, John (Bell, Woodali, & Co.), 196; died, 196. 
 Bell, John, guarantee of the notes, 419. 
 Bell, Joseph, guarantee of, 419. 
 Bell, Matthew (1), Old Bank, 174, 177, 184, 188; 
 
 married Miss Ridley, 188 ; Sheriff of Newcastle, 
 
 188 ; Mayor of Newcastle, 188 ; died, 188. 
 Bell, Matthew (2), 188; married daughter of Sir 
 
 John Eden, 188 ; died, 188. 
 Bell, Matthew (3), Old Bank, 188; married daughter 
 
 of Chas. Brandling, Esq, 188 ; retired, 181 ; 
 
 High Sheriff of Northumberland, 188 ; died, 188. 
 Bell, Matthew, Jan., panic in Newcastle, 29. 
 Bell, j\Iatthew, M.P., petition re small notes, 99 ; 
 
 petition against formation of Branch Bank of 
 
 England in Newcastle, 202, 203. 
 Bell, Richard, guarantee of notes, 419. 
 Bell, Robt., liquidation of Blake, Reeds, & Co., 168. 
 Bell, Colonel Robert, Fenham, 189. 
 Bell, S. M., sub-manager of the Newcastle Joint 
 
 Stock Banking Co., 319. 
 Bell, Thomas, panic, 275. 
 Bell, Thomas, memoranda for a pedigree and 
 
 account of the Surtees family by, 398. 
 Belassis, Rich., will of, 21. 
 
 Belt, R., Newcastle Chamber of Commerce, 201. 
 Bennett, Rev. E. H., 221. 
 Bennett, John, coinage of base money, 120. 
 Bennett, Timothy, 189. 
 Benson, Eland, & Co., auditors for the Industrial 
 
 Bank, Limited, 295. 
 Benson, Rev. C, formation of the Newcastle 
 
 Savings' Bank, 866. 
 Bent, Mr., Yorkshire Penny Bank, 418. 
 Beresford, Henry de la Poer, 281. 
 Berry, William (Tweed Bank), 162, 164; failure of 
 
 Surtees, Burdon, & Co., 388. 
 Bertie, Rear-Admiral Sir Thomas, 258, 259. 
 Berwick, Savings' Bank of, 162. 
 Berwick Bank, 310, 812 ; circular regarding failure 
 
 of Durham I3ank, 311 ; copy of a note of, 812. 
 Best, John, Heighington, 141. 
 " Bewick Gleanings," 311. 
 
 Bewick Main Colliery, silver and copper money, 73. 
 Bewick, Henry, guarantee of notes, 419. 
 Bewick, Thos., letter from, 68 ; forgery of bk. notes, 
 
 68, 88, 188,1185 ; notes of Berwick Bank, printed by, 
 
 311 ; copy of a letter from, to Mr. Mason, 312. 
 Beynon, Mr., "at the Tippling Philosopher, Liquor 
 
 Pond Street, Gray's Inn Lane, London," 244. 
 Biddulph, Sir Michael, 256. 
 
 Bigge, Charles John, Old Bank, 174, 182; died, 193. 
 Bigge, C. J., District Bank, 198, 338, 889 ; with- 
 drawal from directorate of, 343. 
 
[437] 
 
 Bigge, Chas. Wm., Eslington House, Northumber- 
 land, 174, 181, 182, 338 ; married Miss Wilkinson 
 of Thorpe, 193 ; High Sheriff of Northumberland, 
 193 ; died at Linden, 193. 
 
 Bigge, Thomas Charles, Newcastle, 193. 
 
 Bigge, Thos. Chas., exchange of gold with his 
 tenants, 31 ; panic in Newcastle, 50, 51. 
 
 Bigge, Thos. Hanway, Old Bank, 174, 181, 193 ; 
 liquidation of Blake, Reeds, & Co., 168 ; married 
 Charlotte, daughter of Rev. Jas. Scott, 193 ; 
 died, 182, 193 ; formation of the Newcastle 
 Savings' Bank, 366. 
 
 Bill for taxing receipts and promissory notes, 33. 
 
 Bill-broking, 349. 
 
 Bird, Nicholas, 419. 
 
 Birkett, James, extract from the letter book of, 134. 
 
 Bish, T., lottery contractor, 127. 
 
 Bishop 13eck, pennies of, 14. 
 
 Bishop Booth, coinage of, 15. 
 
 Biss, Robert, panic of 1803, 275. 
 
 " Black Dwarf," quotations from, 81, 82. 
 
 Black, Lawrence, manager of the Newcastle Com- 
 mercial Bank, 316. 
 
 Blackbird, E., agent for Messrs. Lambton, 249. 
 
 Blackett & Dixon, panic in Newcastle, 49. 
 
 Blackett, Chas., treasurer for Northumberland, 
 49; winding up of Surtees.Burdon, &Co.,390,39l. 
 
 Blackett, J. C, 158. 
 
 Blackett, John E., panic in Newcastle, 29, 49, 
 50, 51. 
 
 Blackett, Walter, panic in Newcastle, 29. 
 
 Blackburn, Rev. J., formation of the Newcastle 
 Savings' Bank, 866. 
 
 Blacklock, Joseph, trustee for the Union Bank, 825. 
 
 Blackwood, W., guarantee of notes, 419. 
 
 Biagdon & Cramlington, panic in Newcastle, 29. 
 
 Blagdon, Nehemiah, guarantee of notes, 419, 418. 
 
 Blair, James, private banking, 9. 
 
 Blake, Sir Francis, Reeds, & Co., Northumberland 
 Bank, 162 ; stop payment, 87, 165 ; skit on, 167 ; 
 statement of affairs of, 167 ; publication of 
 official statement of, 167; creditors assent to 
 arrangement of , 169; announcements to creditors 
 of, 169 ; sale of estates of, 169 ; announcement 
 of sale of estates of, 169 ; winding up of, 170 ; 
 payment of final dividend, 170 ; Northumber- 
 land Bank, 163, 164, 173 ; second baronet of 
 Twizel, 173 ; death of, 173. 
 
 Bland, Barnett, & Hoare, 129, 257. 
 
 Bland, James, Stockton & Darlington Canal, 230. 
 
 Bland, John, sen. (Barnett & Co., London), 254. 
 
 Bland, John, jun. (Barnett & Co., London), 254. 
 
 Bland, Sir John, Kippax Park, co. York, 254. 
 
 Bland, Michael, Bucklesbury, 254. 
 
 Bland, Stamper (Barnett & Co., London), 252. 
 
 Bleckley, H., manager of the Newcastle Joint 
 Stock Banking Co., 319. 
 
 Blenkinsop, John, guarantee fund, 275. 
 
 Blount, Edward, director of the National Pro- 
 vincial Bank of England, 314. 
 
 Bogus notes, issue of, 27, 79 ; handbills published 
 against, 79. 
 
 Bolam, Archibald, clerk of the Newcastle Savings' 
 Bank, 367 ; autograph of, 358 ; arrest of, for 
 murder of Millie, 371 ; sentence of transporta- 
 tion for life 371 ; death of, 372. 
 
 Boldero & Co., lottery tickets, 243 : London Agents 
 for Messrs. Fenton, Scott, & Co., 265. 
 
 Boldero, Adpy, Lushington, and Boldero, 350 ; 
 London Agents for Davison-Bland & Co., 248. 
 
 Bolton, Mr., copper coinage, 18 ; dollars stamped 
 by, 74. 
 
 Bond & Son, Bankers, London, 283. 
 
 Bond & Co., agents for Lister & Co., 298, 299. 
 
 Bone, Robert, support of Durham Bank, 3U8. 
 
 Bonner and Taylor, guarantee fund, 275. 
 
 Bonner, John, guarantee fund, 275. 
 
 Bonner, Matthew, 188. 
 
 Bonner, Thomas, guarantee fund, 275. 
 
 Booth, John, guarantee fund, 275. 
 
 Booth, Rev. John, tried for clipping money, 124. 
 
 Booth, William, formation of a guarantee fund, 275. 
 
 Boultbee, Rev. H., 221 
 
 Boulton, William (Richardson & Mowbray), 353, 
 354, 355, 366. 
 
 Bourne, the historian, 273. 
 
 Bouyer, R. G., support of Durham Bank, 308. 
 
 Bowden, Wm., treatment of apprentices, 3. 
 
 Bower & Co., Beverley, Driffield, &c., 68, 200 ; East 
 Riding Bank, note issue allowed by Act, J 12. 
 
 Bower, Dewsbury, & Co., Malton, 199, 219; 
 panic of 1825, 199 : confidence in, 199 ; changed 
 to Beckett & Co., 200. 
 
 Bower, Hall, & Co., Beverley, 120. 
 
 Bower, Hutton, & Co., East Riding Bank, 199. 
 
 Bower, Hutton, & Hall, Malton, 199. 
 
 Bower, — (Bower, Dewsbury, & Co.), 199. 
 
 Bower, R. (Bower, Dewsbury, & Co.), 199, 200 
 
 Bower, R. H. (Bower, Dewsbury, & Co.), j 99, 200; 
 died, 200. 
 
 Bowes, Thos., support of Durham Bank, 308. 
 
 Bowie, John, 419. 
 
 Bowmaker, Henry, 419. 
 
 Bowman, John H. winding up of the Darlington 
 District Banking Co., 239. 
 
 Boyd, E. Fenwick, Moorhouses, 195. 
 
 Boyd, George Fenwick, Whitley, 195. 
 
 Boyd, Hugh Fenwick, barrister-at-law, 195. 
 
 Boyd, John, executed at Morpeth for forgery on 
 Durham Bank, 354, 855. 
 
 Boyd, Miss Juliana, authoress of " Bewick Glean- 
 ings, with lives of Bewick and his pupils," J95; 
 copy of a " Sample Note " found in the sale of 
 the memoranda of, 404. 
 
 Boyd, Robert, Old Bank, 174, 182; director in 
 District Bank, 195 ; died at sea, 195. 
 
 Boyd, Robert (Ridley, Bigge, & Co.), 248, 338. 
 
 Boyd, William, Old Bank, 69, 88. 174, 194, 195. 
 
 Boyd, William (1), married Miss Juliana Peat, 
 194 ; died, 194. 
 
 Boyd, William (2), Old Bank, 181, 182, 194; 
 history of Old Bank, 182, 186 ; account of Lough 
 the forger, 186 ; autograph of, 194 ; married 
 Esther, daughter of Robert Lock, 194 ; pre- 
 vention of forgery, 195 ; died, 195. 
 
 Boyd, William (3), Vicar of Ancliffe, &c., 195; 
 married Miss Isab. Twining, 195 ; died, 195. 
 
 Boyne, Viscount, 363, 364. 
 
 Bradberry & Lonsdale, Reeth, 136, 138. 
 
 Braithwaite, W., adoption of paper money, 76. 
 
 Bramwell, Justice, Hurworth, 136. 
 
[438] 
 
 Branch Bank of England, Newcastle-upon-Tyne, 
 119, 201, 367; petition against formation of, 
 202, 368 ; reply of Bank of England re petition 
 against, 203 ; letters to the press re, 203 ; opened, 
 203 ; selection of manager.-j, 204 ; substitution 
 of paper currency of, for that of the country 
 bankers, 205 ; Act compelling withdrawal of all 
 bank notes under £5, 205 ; accounts opened 
 with North-country bankers, 205 ; collection of 
 money from the Receivers of Inland Revenue, 
 206 ; removal to new premises in Grey Street, 
 208 ; printing of special bank notes, 208 ; issue 
 of notes for £80, £40, and £500 abolished, 208 ; 
 extension of premises, 209 ; panic, 210 ; " Clear- 
 ing House" re-established, 212; notes and 
 twenty-one day bills, account of average circula- 
 tion of, 214 ; hostility agamst the formation of, 
 95, 96, 201 ; particulars regarding, 214 ; average 
 circulation of branch bank notes, &c., 214 ; 
 amount of bank notes paid in at, chiefly by 
 country bankers, 215 ; amount of coin trans- 
 mitted to,' 215 ; amount of coin transmitted 
 from, to London, 215 ; average proportion of 
 coin to the liabilities retained at the, 215 ; 
 average amount of bills under discount at each 
 of the, 215 ; loss sustained on discounted bills 
 at each of the, 216 ; amount received at 
 each of the, for interest on bills discounted, 
 216 ; total expenses of the, 217 ; commissions 
 received at each of the, 217 ; numbers of 
 country bankers who act with Bank of England 
 notes extensively, &c., 217 ; account of country 
 bankers who have been supplied with or are now 
 receiving coin from the, 217. 
 
 Brandling, Charles, Gosforth, 188, 399 ; panic in 
 Newcastle, 29, 53, 394. 
 
 Brandling, C. J., Gosforth House, 168 ; failure of 
 Surtees, Burdon, & Co., 388. 
 
 Brandling, Charles John, M.P., founder of " the 
 Northumberland and Newcastle Volunteer 
 Cavalry," 400. 
 
 Brandling John, 385, 387, 400; debts proved 
 against the estate of, 71, 393 ; sale of estates of, 
 394; Sheriff of Newcastle, 400 ; Mayor of New- 
 castle, 400 ; died in Newcastle, 400. 
 
 Brandling, Rev. Ralph Henry, 400. 
 
 Brandling, Robert, " the turbulent squire," 400. 
 
 Brandling, Sir Robert, Mayor of Newcastle, 400. 
 
 Branscomb, Sir James, Sheriff of London and 
 Middlesex, 306. 
 
 Brewis, James, guarantee fund, 275. 
 
 Britain & Co., Thirsk, 87, 218. 
 
 British Linen Company, 8, 185. 
 
 British Museum, The, 77. 
 
 Britton, James, support of Durham Bank, 308. 
 
 Broadley, R. C. & Co., Malton, 218. 
 
 Brockett, Mr., N/c. Chamber of Commerce, 98. 
 
 Brogdon, John, guarantee of notes, 419. 
 
 Brooks, George (Masters & Co., London), 240. 
 
 Brough, Barnabas, support of Durham Bank, 308. 
 
 Browell, Jasper, panic in Newcastle, 49. 
 
 Brown, — (Lumley, Smith, & Co.), 304. 
 
 Brown, Alderman, formation of the Sunderland 
 Joint Stock Bank, 383, 384. 
 
 Brown, Dixon, Benton, 158. 
 
 Brown, Ed., panic in N/c, 49 ; Broomhill, 192. 
 
 Brown, Geo., panic in Newcastle, 49, 136. 
 
 Brown, Jas., Prov. Com. Union Bank, 320. 
 
 Brown, Ralph (Davison-Bland & Co.), 239 ; photo 
 of, 252. 
 
 Brown, Rd., panic, 29 ; guarantee of notes, 419. 
 
 Brown, Rbt., formation of Sunderland Bank, 383. 
 
 Brown, Thomas, director North of England Joint 
 Stock Banking Co., 331, 332 ; manager, Sunder- 
 land Joint Stock Bank, 384. 
 
 Brown, Tipping, M.D., inscription upon Sunder- 
 land Bridge, 399. 
 
 Brown, W., guarantee of notes, 419 ; panic in 
 Newcastle, 49 ; Prov. Com. of Union Bank, 320, 
 322 ; director of No. Eastern Banking Co., 329. 
 
 Brumell, Geo., panic in Newcastle, 49. 
 
 Brumell, Mr., arrangements respecting creditors 
 of Northumberland Bank, 169. 
 
 Brunton & Raffield, guarantee fund, 275. 
 
 Brunton, Jane, guarantee fund, 275. 
 
 Brunton Thomas, panic of 1803, 275. 
 
 Budle, William, panic of 1803, 275. 
 
 Bullock, Benjamin, Morpeth, 218 ', retired, 218. 
 
 Bullock, Thomas, guarantee of notes, 419. 
 
 Bulman, Job (Davison-Bland & Co.), 239, 248, 249, 
 261 ; retired, 239 ; erected Coxlodge Hall, 262 ; 
 died, 262 ; photo of, 261. 
 
 Bulman, Job James, 262. 
 
 Bulman John, 372. 
 
 Bulman, Thomas Wm. (Davison-Bland & Co.), 
 239, 261, 262 ; retired, 239 ; married Miss Cook- 
 son, 262 ; died, 262 ; photo of, 261. 
 
 " Bulman Village," Gosforth, 262. 
 
 Bulmer & Co., R., guarantee Fund, Newcastle, 52. 
 
 Bulmer, George, formation of the Yorkshire Dis- 
 trict Bank, 416. 
 
 Bulmer, Jos., bankruptcy of Surtees & Co., 390, 391. 
 
 Bulmer, P. J., Tyne Iron Co., dissolution of part- 
 nership, 389, 391. 
 
 Burdett-Coutts, Baroness, 176. 
 
 Burdis, George, director North of England Joint 
 Stock Banking Co., 321, 332. 
 
 Burdon, Forster, & Co., 268, 269. 
 
 Burdon, Geo., panic in Newcastle, 49. 
 
 Burdon, John (Forster, Burrell, & Co.), 266, 268, 
 273 ; purchased the Manor of Hardwick, 273. 
 
 Burdon, Sir J., form, of the N/c. Savings' Bank, 366. 
 
 Burdon, Rowland, of Newcastle and Castle Eden, 
 27, 48, 272, 385 ; robbed while bringing specie 
 from London, 386 ; winding up of Messrs. 
 Surtees, Burdon, & Co., 389 ; bankruptcy of, 71, 
 390, 391 ; debts proved against the estate of, 393 ; 
 sale of estates of, 394, 400 ; married first the 
 daughter of Chas, Brandling, 399 ; married 
 secondly the daughter of General Matthews, 
 399 ; M.P. for Durham, 399 ; Mayor of Stockton, 
 399 ; erection of an iron bridge across the river 
 Wear, 399 ; formation of a committee to present 
 back the estates of, 400 ; death, 400. 
 
 Burdon, Thomas, South Shields, 273. 
 
 Burdon, Thomas, formation of the Newcastle 
 Savings' Bank, 366. 
 
 Burdon, Sir Thomas, Jesmond, 162. 
 
 Burdon-Sanderson, founding of family of, 161. 
 
 Burdis, Rich., panic in Newcastle, 29. 
 
 Burgess & Co.'s " circular to bankers," 95, 96, 
 97, 100. 
 
[439] 
 
 Burgess, Mr., •' circular to bankers," 118. 
 
 Burgess, Henry, 108. 
 
 Burke, Smith, support of Durham Bank, 308. 
 
 Burlison, John, support of Durham Bank, 308 
 
 Burn, Thomas, guarantee fund, 275. 
 
 Burn, William, guarantee fund, 275. 
 
 Burnett, G., N/c. Chamber of Commerce, 98, 202. 
 
 Burnett, W., guarantee of notes, 419. 
 
 Burnip, John, prov. dir. of the Industrial Bank, 295. 
 
 Burnip, Cuthbert, Newcastle, 262. 
 
 Burrell, George, 419. 
 
 Burrell, John, guarantee fund, 275. 
 
 Burrell, Palfrey George (Forster, Burrell, & Co.), 
 266, 267, 270. 
 
 Burrell, Robert, support of Durham Bank, 308. 
 
 Burrell, \Vm., Broome Park, 158. 
 
 Burrell, Charles J., director of the Swaledale and 
 Wensleydale Banking Co., 402. 
 
 Busby, Mr., executed for killing his father-in-law 
 (Daniel Auty), 124. 
 
 Busby, Threlkeld, guarantee fund, 275. 
 
 Butler, Justice, Harris v Commercial Bank, 260. 
 
 Butler, Robert, 419. 
 
 Butterwick, Matthew, registrar, North Riding of 
 York, 352. 
 
 Byers, Joseph, Stockton branch, Darlington Dis- 
 trict Banking Co., 238. 
 
 Byers, Nicholas, Ketton, 141. 
 
 Byers, Thomas, support of Durham Bank, 308. 
 
 Byne, Rev. Henry, Ponteland, 188. 
 
 Cairns, Robeet, guarantee fund, 275. 
 
 Callender, Michael and W. R., panic in N/c, 49. 
 
 Calvert, Robert, Northallerton, 136. 
 
 " Camp Field," Whitley, The, 63. 
 
 Campbell and Coutts, Messrs., 10, 23, 175. 
 
 Campbell, E. H., Newcastle Chamber of Com- 
 merce, 98, 201, 202 ; formation of the Newcastle 
 Savings Bank, 366. 
 
 Campbell, John, 175. 
 
 Campbell, Lord, '• Crossing" of cheques, 116. 
 
 Campbell, Sir Robert, Director of the National 
 Provincial Bank, 314. 
 
 Campion, Margaret and Robert, Whitby, 219 ; 
 failed, 219, 
 
 Campion, Messrs., 46, 228, 365. 
 
 Campion, R. & J., bankers, Whitby, 264, 287, 305, 
 345 ; failure of, 361, 402. 
 
 Campion, John, 219, 220 ; Abolition of Slavery, 219; 
 entered the Established Church, 221 ; ordained, 
 221 ; presented with the living of St. James's, 
 Doncaster, 221 ; account of the death of, 221. 
 
 Campion, Margaret, 219 ; retired, 219. 
 
 Campion, Robert, 219, 220 ; Abolition of Slavery, 
 219 ; spinning manufactory, 219 ; Lord of the 
 Manor of Easby, 220 ; erected a monument in 
 memory of Captain Cook, 220 ; married Miss 
 Smales of Whitby, 220 ; died, 221. 
 
 Campion, William, 219. 
 
 Cargill, W. W., M.P., Berwick, 303. 
 
 Carlisle, Earl of, support of Newcastle Banks, 53. 
 
 Carlisle, Matthew, guarantee of notes, 419. 
 
 Carlisle, Nicholas, " A History of the Ancient 
 Family of Bland," 254. 
 
 Carr & Jobling, solicitors to the North of England 
 Joint Stock Banking Co., 331, 332. 
 
 Carr, Clara, 419. 
 
 Carr, Geo., Agent of the Newcastle Branch Bank 
 of England, 204, 206, 207 ; death of, 207. 
 
 Carr, George, jun., appointed a Director of the 
 Newcastle Savings' Bank, 207. 
 
 Carr, Isabella, 419. 
 
 Carr, Jas., 331. 
 
 Carr, John, Dunston, 164, 181, 239. 
 
 Carr, John, Dunston Hill, 188, 191 ; Director 
 North of England Joint Stock Banking Co., 331 ; 
 affairs of ]Messrs. Surtees, Burdon, & Co., 390. 
 
 Carr, John T., Prov. Com. of the Newcastle, 
 Shields, and Sunderland Union Bank, 320. 
 
 Carr, Ralph, Newcastle, 10, 23, 174, 177, 181, 184 ; 
 money raised for the troops at Newcastle, 23 ; 
 retirement from Old Bank, 34, 178 ; account of 
 formation of Old Bank, 177 ; reasons for retiring 
 from Old Bank, 170 ; married Isabella, daughter 
 of Rev. Henry Byne, 188 ; died, 188 ; coat of 
 arms of, 188 ; portrait of, front. 
 
 Carr, Thos., sale of estates of Messrs. Reeds & Co., 
 169. 
 
 Carter, Mr. B., Com. of Sec, Bank Charter, 109. 
 
 Castell, Whately, & Powell, London, 179, 180, 189. 
 
 Castle, Samuel, support of Durham Bank, 308, 310. 
 
 Cattell & Barber, issue of the " York shilling," 73. 
 
 Cavendish, Mr., Com. of Sec, Bank Charter, 109. 
 
 Cay, Christopher, guarantee fund, 275. 
 
 Cayley, George, Director North Eastern Co., 329. 
 
 Challoner, Edward, counterfeit coinage, 40. 
 
 Challoner, John, counterfeit coinage, 40. 
 
 Challoner, Jno. F., Surtees's, Burdon, & Co., 387. 
 
 Chambers, Richard (Davison-Bland, & Co ), 129, 
 239, 240, 241, 242. 246, 248, 259 ; retired, 239, 
 249 ; lottery tickets, 242, 243 ; autograph of, 244 ; 
 conveyance of treasure, 245 ; annual statement 
 of accounts, letter from re, 246 ; condition of 
 the bank, 246 ; panic in Newcastle, 247 ; became 
 bankrupt, 249 ; entered into partnership with 
 Messrs. Hall and Heron, 259 ; partner with Mr. 
 David Landell in the hardware trade, 259 ; 
 appointed Sheriff of Newcastle, 259 ; created 
 an alderman, 259 ; partnership with Messrs. 
 Davison-Bland, & Co. dissolved, 259 ; died, 259. 
 
 Chambers, Robert, Newcastle, 259, 260. 
 
 Chambers, Sir Robert, Chief Judge of Calcutta, 
 241, 260 ; married the beautiful Miss Wilton, 
 260 ; Lord Eldon and the story of the snails, 260. 
 
 Chambers, William, 260. 
 
 Chancellor of the Exchequer, 95, 96, 97 ; extract 
 from the speech of the, 300. 
 
 Chapman, John & Robert, panic in Newcastle, 49. 
 
 Chapman & Co., Newcastle-upon-Tyne, 77, 102, 
 205, 221, 222,336,365; run upon, 223; issue 
 of notes, 223 ; division of profits, 224 ; converted 
 to Newcastle, Shields, & Sunderland Union 
 Bank, 218, 224, 274, 285, 320, 321, 322, 406. 
 
 Chapman, Abel, Newcastle, Union Bank, 321 ; 
 appointed assistant manager, 322. 
 
 Chapman, Abel, Whitby (Simpson, Chapman, & 
 Co.), 373, 374, 375, 376; autograph of, 373; 
 death of, 376 ; photo of, 375. 
 
 Chapman, Edw. (Chapman & Co.), 122. 
 
 Chapman, Edward (Chapman & Co.), 221, 222, 225 ; 
 accoimt of death of, 224, 225. 
 
L440] 
 
 Chapman, Edward, shareholder Newcastle Union 
 Joint Stock Bank, 320. 
 
 Chapman, Edward Henry, director of the Bank of 
 England, 877. 
 
 Chapman, Edward W., 321. 
 
 Chapman, Frederick, 221, 224 ; retired, 224. 
 
 Chapman, Jane, Whitby, 186. 
 
 Chapman, John, 373, 375, 376 ; died, 376. 
 
 Chapman, John, Sunderland bridge lottery, 391. 
 
 Chapman, John Mellor (Chapman & Co.), 221, 
 224 ; manager of the Newcastle Union Joint 
 Stock Bank, 321, 822. 
 
 Chapman, Robert, North Shields, 225. 
 
 Chapman, Sarah, Whitby, 225. 
 
 Chapman, Solomon, Sunderland, 136, 275. 
 
 Chapman, Thomas, shareholder Newcastle Union 
 Joint Stock Bank, 321. 
 
 Chapman, William (Chapman & Co.), 129, 221, 
 222, 225 ; general director Union Bank, 320, 
 321, 323, 325 ; flight of, 323, 419. 
 
 Chapman family, account of, 225. 
 
 Charles I., seizure of cash in the Mint, 2. 
 
 Charleton, Cornelius, panic in Newcastle, 29. 
 
 Charnley, Emmerson, formation of the Newcastle 
 Savings' Bank, 866. 
 
 Charnley, William, letter from, re stoppage of 
 banks ; letter from Mr. Hanson to, 84. 
 
 Chater, J., liquidation of debts, 166. 
 
 Chatto, Alex., panic in Newcastle, 49. 
 
 Chaytor, Prankland, & Co., Sunderland, 87. 
 
 Chaytor, Sir Wm., Frankland, & Co., 102. 
 
 Chaytor, Sir William, & Co., Sunderland, 102, 
 225, 274 ; business commenced, 222 ; opening 
 of a branch at Hartlepool, 226 ; issue of notes, 
 226 ; note issue abandoned, 226 ; business pur- 
 chased by Union Bank, 226, 321. 
 
 Chaytor, Henry, re Chaytor & Co.'s Bank, 226 ; 
 purchase of Witton Castle estate, 227. 
 
 Chaytor, Matthew Hutton, 227 ; (Frankland, John 
 and James), 129, 278, 274; Union Bank, 
 Sunderland Branch, 822 ; resignation of, 822. 
 
 Chaytor, Wm., Stockton and Darlington Canal, 
 280 ; suspension of the Union Bank, 323. 
 
 Chaytor, Sir William (Chaytor & Co.), 225, 226, 
 273 ; death of, 227. 
 
 Cheques, 4. 
 
 Child, Sir Francis, formation of Bank of Eng- 
 land, 4. 
 
 Child, Richard, formation of Darlington Bank, 238. 
 
 Chipchase, Thomas (Mills, Robinson, & Co.), 307, 
 310 ; dissolution of partnership, 810. 
 
 Chrisp, John, guarantee fund, 275. 
 
 Christmas Carol, 167. 
 
 Christopher & Jennett, Stockton, trade tokens, 78. 
 
 Circular to Bankers, The, appointment of directors 
 Newcastle Branch Bank of England, 204. 
 
 Circulation of bad silver, 30. 
 
 Circulation of foreign coins, 74. 
 
 City merchants support Bank, 67. 
 
 Clapham, A., Newcastle Chamber of Commerce, 
 98, 136, 201, 202 ; director North of England 
 Joint Stock Banking Co., 331, 382. 
 
 Clapham, John, director of the Yorkshire Bank- 
 ing Co., 214. 
 
 Clark, Richardson, & Co., Whitby, 33, 57 ; transfer 
 of, to York City & County Bank, 113 ; 219, 353. 
 
 Clark, Richard, 419. 
 
 Clark, Wm., Benton House, 158. 
 
 Clarke, Richardson, & Hodgson, Whitby, founded, 
 
 227, 284; passed to York City & County 
 
 Bank, 228. 
 Clarke, Geo. & Co., Boston, 219. 
 Clarke, Jas., panic in Newcastle, 29, 
 Clarke, John Graham, panic in Newcastle, 49, 50, 
 
 51 ; failure of Surtees, Burdon, & Co., 358. 
 Clarke, Mr., formation of the Newcastle Savings' 
 
 Bank, 366 ; Stockton, winding up of the Com- 
 mercial Bank, Stokesley, 378. 
 Clarke, W., bankruptcy of IMessrs. Surtees, Bur- 
 don, & Co., 390. 
 Clarkson's " History of Richmond," 291, 294, 297. 
 Clavering, C. J. Riddlehamhope, 158. 
 Clay, John, trustee of Blake, Reeds, & Co., 170; 
 
 formation of the Sunderland Bank, 384. 
 Clayton, John, 326. 
 Clayton, Nathaniel, Chesters, 158; failure of 
 
 Surtees, Burdon, & Co., 388 ; counterfeit coinage, 
 
 43; panic in Newcastle, 49, 50, 51 ; formation of 
 
 the Newcastle Savings' Bank, 866. 
 Clayton, Ralph (Masters & Co., London), 240 ; 
 
 conveyance of specie, 241. 
 Clayton, Richard, Woods & Co., 407 ; photo, of 406. 
 Clayton, Robt., panic in Newcastle, 49. 
 Clayton, Robt., Mayor of Newcastle, 366. 
 Clayton, Mr. Sergeant, support of Newcastle 
 
 banks, 53. 
 "Clearing House" re-established, 212. 
 Cleghorn, John, auditor of the North Eastern 
 
 Banking Co., 329. 
 Clements, Royds, & Co., Rochdale, 213. 
 Clement, John, Darlington, 28, 136; founded 
 
 229 j circulation of Portugal gold, 229 ; 
 
 formation of the Stockton and Darlington 
 
 Canal, 230. 
 Clennell, Percival, panic in Newcastle, 29. 
 Clerk of the Assize to the Officials of Morpeth 
 
 Goal, Order of the, 355. 
 Cleugh, Robert, 419. 
 Cleugh, Wm., counterfeit coinage, 40. 
 Clifford, Sir T., proposal to close the Exchequer, 2. 
 Clint, E., sale of estates of Messrs. Blake, Reeds, 
 
 & Co., 169. 
 Clipping, 128. 
 Close, John (Hammond, Hirst, & Close), 280, 281 ; 
 
 registration of deeds, &c., 852. 
 Clydesdale, Bank, The, Greenock, 329. 
 Coats, Peter, 419. 
 
 Cobbett's " Weekly Political Register," 222, 
 Cobden, George (Messrs. Cobden & Co.), 299. 
 Cockerill, Jon., 418. 
 
 Coinage of silver tokens. Bank of England, 19. 
 Coined money, early use of, 11. 
 Colbeck, Harrison, Prov. Com. of the Newcastle, 
 
 Shields, and Sunderland Union Bank, 820. 
 Colborne, Benjamin, Bath, 193. 
 Coleman, Turquand, Young, & Co., London, 348. 
 Coleman, J. E., affairs of the District Bank, 343, 
 
 845 ; report of, 844. 
 Collector of Excise and notes of new bank, 25. 
 Colling, Thos., guarantee fund, 275. 
 Colling, John, Heighington, 141. 
 Colling, Robert, Barmpton, 140. 
 
[44i] 
 
 Colling, Wm., Heighington, 141. 
 
 Collingwood, Hy., 29 ; support of banks, 63. 
 
 Collingwood, Thomas, guarantee fund, 275. 
 
 Collins, Chas. J., Skurrington, 136. 
 
 Collinson, Rev. J., formation of the Newcastle 
 Savings' Bank, 366. 
 
 Commencement of new banks, 33. 
 
 Commerce, revival of, 46. 
 
 " Commercial Bank," the, 33, 57, 208, 242, 247, 
 266, 267, 268, 272, 336; winding up of, 60; 
 failure of, 116 ; founded 1784, suspension of 
 payment, 48, 268 ; appointment of a committee 
 of investigation, 268 ; discontinued, 248, 268, 
 386 ; report of committee of investigation, 269 ; 
 Stockton, 379, 380 ; Stokesley, 378 ; bankruptcy 
 of, 69. 
 
 Committee of Bankers, The, 268. 
 
 Company of Butchers, Newcastle, meeting pro- 
 testing against counterfeit money, 40. 
 
 Compton, Lady, 283. 
 
 Congreve, Sir William, forgery of bank notes, 68 ; 
 forgeries on Bank of England, 80. 
 
 Consett Iron Co., The, 343, 347. 
 
 Consett, Warcop, 289, 350. 
 
 Consett, William Warcop Peter, Yorkshire, 353. 
 
 Conway, Sir William, dir., Nat. Prov. Bank, 314. 
 
 Conyers, Sir B., 242. 
 
 Cook, Captain, erection of a monument in memory 
 of, 220 ; the "Free Love," 377. 
 
 Cook, C. H., 372. 
 
 Cook, Henry (Bell, Woodall & Co.), 196, 197. 
 
 Cook, William, 394. 
 
 Cooke, John and Thomas, & Co., 231 ; suspension 
 of payments, 231 ; failed 231. 
 
 Cooke, Robinson, & Co., Sunderland, 68, 230, 
 suspension of payments, 70, 231 ; appointment 
 of Committee to enquire into, 231 ; Report of Com- 
 mittee, 231 ; resumption of cash payments, 231 ; 
 firm changed, 231 ; failure of, 78, 231 ; creditors 
 of, presented with a sum of money, 232. 
 
 Cooke & Co., formation of a committee to present 
 Mr. Rowland Burdon with his estates, 400. 
 
 Cooke, Charles H., trustee of the Union Bank, 
 325. 
 
 Cooke, John, 230, 232 ; became bankrupt, 231 ; 
 particulars of bankruptcy of, 232. 
 
 Cooke, Nicholas, 418. 
 
 Cooke, Thomas (Cooke, Robinson, & Co.), 230. 
 
 Cookson & Co., founders, 189. 
 
 Cookson, Isaac, Old Bank, ]74, 189 ; married Mi=s 
 Wilkinson, 189; Sheriff of Newcastle, 189; 
 died, 189; president Newcastle Chamber of 
 Commerce, 100, 202, 203. 
 
 Cookson, Isaac, jun., formation of the Newcastle 
 Savings' Bank, 366. 
 
 Cookson, John, Old Bank, 174, 177, 188 ; retirement 
 of, 181 ; forgery of bank notes, 187 ; death, 189. 
 
 Cookson, J., jun., Chamber of Commerce, 202. 
 
 Cookson, T., Newcastle Chamber of Commerce, 
 98, 202. 
 
 Cookson, William, Penrith, 188. 
 
 Cookson, William Isaac, 262. 
 
 Cooper, C, D.D., support of Durham Bank, 308. 
 
 Cooper, Alderman D. W., formation of the York 
 Union Banking Co., 410, 411. 
 
 Cooper, William, Manfield, 136. 
 
 Copper Coinage, origin of, 17 ; state of the, 37 ; 
 circulation of base, 37. 
 
 Copper Farthings, issue of, 17. 
 
 Coppin, Edmund, 418. 
 
 Coppin, John, 419. 
 
 Cordwaiuer's strong box, 22. 
 
 Cornforth, William, guarantee fund, 275. 
 
 Cotterell, Thomas, dir., Bank of Hindustan, 299. 
 
 Coulson & Cruddas, guarantee notes, 418. 
 
 Coulson, Wm., panic in Newcastle, 29. 
 
 Coulter, Shaftoe Robert, panic in Newcastle, 49. 
 
 Counsellor, Richard (Messrs. Backhouse & Co.), 75 ; 
 scarcity of silver, 143, 
 
 Counterfeits, circulation of, 19 ; halfpennys, 37 : 
 halfpence, notices inserted in newspapers against, 
 38 ; halfpennies, hand-bills issued against, 38, 
 41 ; money, orders to seize all, 38. 
 
 Counterfeitors, oiler of reward of £20 for, 39. 
 
 Counterfeit coinage, meeting of Newcastle mer- 
 chants and traders against, 41 ; enterprise of 
 tradesmen, 42 ; abatement of, 43. 
 
 Country bank notes, forgery of, 88. 
 
 Country bankers, 5 ; formation of a committee of, 
 96 ; association of, reconstituted, 120 ; appoint- 
 ment of a standing committee, 97 ; permanent 
 association of, 109 ; who issue their own notes, 
 account of, 217. 
 
 Country butchers protest against counterfeit 
 money, 40. , 
 
 "Country Clearing," promotion of extension of 
 Newcastle clearing to, 213. 
 
 Coutts & Co., 178. 
 
 Coutts, James, 175, 177. 
 
 Coutts, John, 10 ; payment of the troops at New- 
 castle, 20 ; portrait of, 176. 
 
 " Cowell V. the Gov. of the Bank of England," 211. 
 
 Cowey, Alex., 419. 
 
 Cowey, John, 419. 
 
 Cowing, Joseph, scarcity of gold in N/c, 245, 246. 
 
 Coxon, John, guarantee fund, 275. 
 
 Craig, John, 418. 
 
 Cram, Geo. Wm., sol., N/c, Commercial Bank, 316. 
 
 Cram, J., 418. 
 
 Cram, Mr., sale of estates, 169. 
 
 Cramlington, W. & H., panic in Newcastle, 49. 
 
 Cramlington, H., forgery on Durham Bank, 355. 
 
 Cramlington, Wm., panic in Newcastle, 49. 
 
 Craster, Edmund, Preston, 158. 
 
 Craster, Shafto, Craster, 158. 
 
 Crawford & Russell, guarantee notes, 418. 
 
 Crawford, Robert Wigram, M.P., 212. 
 
 Crawhall, Thomas, tontine scheme, 391. 
 
 Crighton, Alex., Prov. Com. of the Union Bank, 320. 
 
 Croft, Henry, dir., " York City & County," 409. 
 
 Crompton, Mortimer, & Co., York, 136. 
 
 Crosier, J., Newcastle Chamber of Commerce, 202. 
 
 Crosier, William, guarantee fund, 275. 
 
 " Crossing " of Cheques, bill to legalise, 116. 
 
 Grossman, Rbt., trustee of Blake, Reeds, & Co., 170. 
 
 Croudace, T., support of Durham Bank, 308. 
 
 Crowe, George, Registrar, North Riding of York, 
 352 ; died, 352. 
 
 Crowe, Mr., 290. 
 
 " Crowley's Crew," 366. 
 
 Crozier & Co., formation of a guarantee fund, 275. 
 
 Cruddas, George, guarantee of notes, 418. 
 
[442] 
 
 Cruickshank, George, caricature note by, 84. 
 
 Cumberland, Duke of, visit to Newcastle, 397. 
 
 Cummins, George, 288. 
 
 Currie, Lefevre, James, and Yallowby, 361. 
 
 Curries & Co., London, 129, 361. 
 
 Curries, Raikes, & Co., 129,361 ; amalgamation with 
 
 Messrs. Glyn, Mills, & Co., 361. 
 Currie, John, Prov. Dir., Industrial Bank, 295. 
 Curry, Robert, support of Durham Bank, 308. 
 Curry, Thomas, 418. 
 Curtis & Co., 219 ; London, 228; Agents for Bower 
 
 & Co., 199 ; Agents for J. & J. Frankland, 273. 
 Cutforth, Timothy, Sub-Agent Newcastle Branch 
 
 Bank of England, 204 ; death of, 205 ; Director 
 
 of the Newcastle Savings' Bank, 367, 368. 
 Cuthbert, Wm., panic in Newcastle, 29 ; (Baker, 
 
 Shafto, Ormston, & Co.), 155, 158, 159 ; attorney- 
 
 at-law, 159 ; tragic end of, 160. 
 
 Dale & Co., South Shields, founded, 233 J 
 photo, of partners of, 234 ; South Shields, 282. 
 
 Dale, Miller, & Co., South Shields, 117; 233. 
 
 Dale, Young, & Co., South Shields, 120, 233, 235 ; 
 open a branch at Jarrovv, 233 ; balance sheet of, 
 235 ; amalgamation with North-Eastern Bank- 
 ing Co., 235, 330 ; circular re amalgamation, 235. 
 
 Dale, Young, Nelson, & Co., South Shields, 233 ; 
 removal of head office to Newcastle, 233. 
 
 Dale, Brodrick. 233, photo of, 234, 235. 
 
 Dale, Chas. W. M., 233, photo of, 234, 235. 
 
 Dale, Edward, formation of Joint Stock Bank, 
 Darlington, 237. 
 
 Dale, Henry, guarantee of notes, 419, 
 
 Dale, John, North Shields, 236, guar, of notes, 419. 
 
 Dale, John B. (Hawks, Grey, Priestman, & Co.), 
 117, 281, 282 ; (Dale & Co.) 233, 234, 235 ; Dis- 
 trict Bank, 233; (Dale, Young, & Co.), 233; 
 (Dale, Young, Nelson, & Co.), 233; member of 
 the Ass. of Country Bankers, 236 ; died, 236. 
 
 Dale, John Henry (Dale & Co.), agent Jarrow 
 branch, 233, 234 ; death of, 235. 
 
 Dale, Mr., arrangements respecting creditors of 
 Northumberland Bank, 169. 
 
 Dale, Shallet, panic in Newcastle, 49. 
 
 Dand, M. H., presentation to Mr. E. A. Storer, 134. 
 
 Dangers of Bankers, illustration of, 27. 
 
 Dangers of travelling, 45. 
 
 Daniell, Hurst, secretary (pro tern.) North-Eastern 
 Banking Co., Limited, 329. 
 
 Danish and Norse Kings, silver pennies of, 12. 
 
 Darlington, first town in North of England to form 
 a bank under the Joint Stock Act, 236 ; formation 
 of Joint Stock Bank, 237. 
 
 Darlington five-guinea notes, 138. 
 
 Darlington District Banking Co., 102 ; note issue 
 allowed, 112. 
 
 Darlington District Banking Co., Darlington, 
 236, 344; formed, 237; announcements, re- 
 formation of, 236 ; further announcement by 
 proprietors of, 237 ; prospectus of, 237 ; formation 
 of a committee, 237 ; appointment of officials, 
 238 ; opening of branches, 238 ; run upon bank, 
 238 ; prosecution of the district manager, 238 ; 
 negotiations opened with the York City and 
 County Bank for purchasing the, 120, 238; 
 winding up of, 239. 
 
 Darlington, Lord, attempts to break Messrs. 
 Backhouse's bank, 148. 
 
 Darnell, William., panic in Newcastle, 29, 49, 
 50, 51 ; support of Durham Bank, 308. 
 
 Darnell, W. H., formation of Northern Counties' 
 Bank, Newcastle, 326, 327 ; retirement of, 328. 
 
 Davenport, Ann, 419. 
 
 Davidson, Jane, 419. 
 
 Davidson, John, Clerk of the Peace, 49. 
 
 Davidson, Peter, manager London and Northern 
 Bank, Newcastle, 301 ; manager of the New- 
 castle Commercial Bank, 316. 
 
 Davidson, Robert, 275; North Riding election, 352. 
 
 Davidson, Thos., 49 ; Newcastle Savings' Bank, 366. 
 
 Davies, Wm. C, forgeries on Bank ot England, 80. 
 
 Davies, James J., panic in Newcastle, 49. 
 
 Davison, Bradbury, Hardwicke, & Carr, 299. 
 
 Davison, Sir A., killed at the siege of Newcastle, 253. 
 
 Davison, John, guarantee fund, 275. 
 
 Davison, Jos., killed at the siege of Newcastle, 253. 
 
 Davison, Robert, formation of the Driffield Branch 
 York Union Banking Co., 411. 
 
 Davison, Thomas, son of Sir A. Davison, 254 ; 
 married Eliz., daughter of Wm. Lambton, 254. 
 
 Davison, W., 418. 
 
 Davison-Bland & Co., Newcastle, founded, 34, 53 
 71, 104, 128, 129, 189, 239, 296, 305, 307, 362 
 statement of note issue, deposits, &c., 56 
 early method of " clearing," 117 ; procure 
 tickets for lotteries, 128 ; selection of London 
 agents of, 243 ; selection of bank note of, 240 ; 
 appointment of clerk, 240 ; meeting of partners 
 of, 240; issue of "cards" to banks in New- 
 castle, &c., 241 ; London advisors approve 
 of cards being sent to Newcastle banks, 241 ; 
 conveyance of specie from London, 241 , 
 opening of, 242 ; invest in lottery tickets, 242 ; 
 attempt by existing banks in Newcastle to rush, 
 242, 243 ; list of names of the agents and their 
 remuneration of, 243 ; collector of customs de- 
 clines to accept notes of, 243 ; conveyance of 
 treasure, 245 ; practice of " Xmas money," 245 ; 
 change in partnership of, 245 ; large demands 
 for gold made upon, 245 ; scarcity of gold in 
 Newcastle, 245 ; disturbances at Shields, &c., on 
 account of press-gang, 246 ; removal of notes 
 from Shields, &c., 246 ; panic in Newcastle, 247 ; 
 serious state of affairs, 247 ; difficulty of procur- 
 ing gold, 247 ; meetings of merchants held in 
 support of the banks, 247 ; suspension of pay- 
 ments, 247 ; re-opening of Newcastle banks, 
 248 ; scarcity of gold, 248 ; pedigree showing 
 the connection between the early partners in, 255. 
 
 Davison-Bland Thomas 239, 240, 241, 242,243, 253 
 retirement of, 239, 245 ; autograph of, 244 
 married daughter of Godfrey Meynell, Esq., 254 
 died, 254. 
 
 Dawson, Edward, Northallerton, 136. 
 
 Dawson, Edward (Masters & Co., London), 240. 
 
 Dawson, John, guarantee of notes, 419. 
 
 Dees, Robert, Newcastle, 204, 207. 
 
 Delaval, Lord, support of Newcastle banks, 53. 
 
 Denham, Thomas, first bank note of Messrs, 
 Forster, Burrell, & Co., 266. 
 
 X^6Qisoii ]\X6ssrs. 197. 
 
 Denison, C. B. (Bower & Co.), 199, 200 ; died, 200, 
 
[443] 
 
 Denison, E., 221. 
 
 Denison, E. B., 221. 
 
 Denison, W. B. (Bower, Dewsbury, & Co.), 199, 
 
 200 ; changed to William Beckett, 200 ; died, 200. 
 Depositions from the Castle of York, instances of 
 
 clipping from the, 123. 
 Deposits at interest (Bank of Scotland), 7. 
 Deposit Banks, Bagehot, 55 ; originated from 
 
 banks of issue, 55, 58. 
 Derwent and Consett Iron Co., 346. 
 Devonshire, Duke of, opening of the Leeds Branch 
 
 of the Yorkshire Penny Bank, 418. 
 Dewsbury — (Bower, Dewsbury, & Co.), 199. 
 Dick, Robert, affairs of Surtees, Burdon, & Co., 
 
 390 ; Tontine scheme, 391. 
 Dickinson, Jos. jun., Agent Alston Branch Union 
 
 Bank, 321. 
 Dickinson, Robert, Agent Jarrow Branch Dale, 
 
 Young, & Co., 233. 
 Dickson, Patrick, tontine scheme, 891. 
 Dickson, Wm., Alnwick and County Bank, 133 ; 
 
 sketch of life of, 133 ; death of, 133. 
 D'Iffanger, Thomas, Director of the London and 
 
 Northern Bank, 299, 300. 
 Difficulties of Postage, 25 ; of obtaining specie, 48, 
 
 55, 145 ; of procuring change, 75. 
 Dighton, William, formation of Joint Stock Bank, 
 
 Darlington, 237. 
 Dinsdale, Robert M., formation of Joint Stock 
 
 Bank, Darlington, 237. 
 District Bank, The, 110, 335, 336 ; amalgamation 
 
 with Messrs. Ridley, Bigge & Co., 337, 338. 
 Dixon & Straker, panic in Newcastle, 49. 
 Dixon, E., 419. 
 Dixon, Mr. Sheffield, formation of the Yorkshire 
 
 District Bank, 416. 
 Dixon, Robert, guarantee of notes, 419. 
 Dobinson, Thomas, guarantee of notes, 418. 
 Dobson, Christopher, guarantee fund, 275. 
 Dobson, J. T., Sheriff of Hull, 299, 300. 
 Dobson, Mr., architect of N/c. Savings' Bank, 369. 
 Dollars and Tokens in North of England, 75. 
 Donnison, W. S., support of Durham Bank, 308. 
 Dormond, Maria, guarantee of notes, 419. 
 Dorriens, Mello, ^lartin, & Harrison, 353. 
 Dorrien, H. J., Newcastle Branch Bank of England, 
 
 205 ; appointed agent, Swansea Branch Bank of 
 
 England, 207 ; died at Portsmouth, 207. 
 Doubleday & Easterby, panic in Newcastle, 49. 
 Doubleday, T., N/c. Chamber of Commerce, 98. 
 Douglas, — " Hist, of the Baptist Churches," 104. 
 Douglas, Hy., Sadberge, 141. 
 
 Douglass, Williajn, prov. dir. Industrial Bank, 295. 
 Douglas, Wm., auditor of the Union Bank, 325. 
 Dove, Chr., Darlington, 136. 
 Dowker, John, Salton, 198. 
 
 Down & Co., agents of Bell, Woodall, & Co., 197. 
 Downie, C, 419. 
 
 Dresser, Joseph, & Co., Thirsk, 87, 263 ', trans- 
 ferred to Yorkshire District Banking Co., 263, 417. 
 Dresser, Henry, manager of Dresser & Co., Thirsk, 
 
 263 ; appointed manager of Yorkshire Banking 
 
 Co., Leeds, 263, 414 ; appointed manager of the 
 
 District Banking Co., 417. 
 Dresser, Joseph (Dresser & Co.), Thirsk, 263. 
 Drury Edward, 419. 
 
 Dryden, John, suspension of the Union Bank, 323 ; 
 winding up of the Union Bank, 325 ; Woods, 
 & Co., 406 ; retired, 407 ; photograph of, 408. 
 
 Dryden, Thos. Prov. Com. of the Union Bank, 320. 
 
 Duff, James Gordon, dir. Nat. Prov. Bank, 314. 
 
 Duke, J. H., secretary of the London and Northern 
 Bank, Limited, Newcastle, 299, 300. 
 
 Duncan, Rev. H. R., Savings' Bank of 1810, 366. 
 
 Duncan, Jas., cobbler, Scale-de-Cross Bank, 44. 
 
 Duncan, Thomas, Alnwick agent, London and 
 Northern Bank, 301. 
 
 Duncombe, G. A. (Bower, & Co.), 199, 200. 
 
 Dundee Branch Bank of Scotland, 7. 
 
 Dunlop, Houston, & Co., 9. 
 
 Dunn, Arch., counterfeit coinage, 40. 
 
 Dunn, Benjamin, Durham, 57, 136 ; 263 ', 264 ; 
 autograph of, 264 ; Alderman for the City of 
 Durham, 264 ; early method of " clearing," 117. 
 
 Dunn, Henry, Lovesome Hill, 141, 419. 
 
 Dunn, Mr., Durham, makes demands upon Davi- 
 son-Bland for large quantities of gold, 245. 
 
 Durham & Darlington Bank, the, 311. 
 
 Durham Bank, 307, 308, 309 311, 354; copy of a 
 circular issued during panic, in support of the, 
 308 ; appointment of committee, 308 ; report of, 
 309 ; resumption of business, 309 ; support of, 310; 
 dissolution of partnership, 310 ; forgery upon, 354. 
 
 Durham Bankers, scarcity of gold, 145. 
 
 Durham Mint, 14. 
 
 Durham, Lord, 245. 
 
 Durham, the Lord Bishop of, 310; form, of com. 
 to present Mr. Burdon with his estates, 400. 
 
 Durham, Makin, auditor of the Yorkshire Bank- 
 ing Co., 414. 
 
 Duyenes, Mr., 289. 
 
 Dymoke, Sir Charles, 307. 
 
 Dymoke, Henry, Scrivelsby, 307. 
 
 Eadie, Robert, & Co., Newcastle, 403. 
 
 " East Riding Bank," 199. 
 
 Easterby, Hall, & Co., debt of, considered cause of 
 failure of Mowbray & Co., 357. 
 
 Easterby, Anthony, 42, 52 ; Chamber of Com., 98, 202. 
 
 Easthorpe, Mr. John, 96. 
 
 Ebrington, Lord, Committee of Secrecy, Bank of 
 England Charter, 109. 
 
 Eddowes, Jas., Prov. Com. Union Bank, 320. 
 
 Eden & Co., Old Bank, 245. 
 
 Eden, Sir Frederick N., Bart., 256. 
 
 Eden, John, Prov. Com. Union Bank, 320, 322. 
 
 Eden, Sir John, Old Bank, 136, 174, 180, 188 ; 
 support of Newcastle banks, 53 ; Stockton and 
 Darlington Canal, 230 ; support of the Durham 
 Bank, 308. 
 
 Eden, William, guarantee fund, 275. 
 
 Edinburgh, early banking, 1. 
 
 Edwards, James, Prov. Com. Union Bank, 320. 
 
 Edwards, Matthew, general manager of the York- 
 shire District Bank, 416. 
 
 Edye, Ernest, West of England Bank, 213 ; Oriental 
 Banking Corporation, 213 ; Standard Bank of 
 South Africa, 213 ; deputy-inspector of the 
 London and Brazilian Bank, 213 ; sub-agent 
 Newcastle Branch Bank of England, 213 ; pro- 
 moted agent of the Leeds Branch, 213 ; ap- 
 pointed chief auditor of the Bk. of England, 213. 
 
[444] 
 
 Eeles, T., adoption of paper money, 76. 
 
 Eggbehrt, Styca of, 13. 
 
 Eggfrith, Styca of, 12. 
 
 Eggleston, James, support of Durham Bank, 308. 
 
 Eggleston, John, guarantee fund, 275. 
 
 Elder, James, Alnwick, agent for Messrs. Davison- 
 Bland, & Co., Newcastle, 243. 
 
 Elder, Jos., Prov. Com. of the Union Bank, 320, 419. 
 
 Eldon, Lord, 271, 394, 397, 398 ; the Story of the 
 Snails, 260. 
 
 Ellerby & Ranson, guarantee fund, 275. 
 
 EUerby, Thos., guarantee fund, 275. 
 
 Elliott, John Fogg, liquidator District Bank, 343. 
 
 Ellis, — (Hutton, Other, & Co.), 291, 292. 
 
 Ellison, A., & Son., 419. 
 
 Ellison & Temple, 419. 
 
 Ellison, Commissioner, Cooke's bankruptcy, 232. 
 
 Ellison, Cuthbert, formation of the Newcastle 
 Savings' Bank, 366 ; trustee of the Sunderland 
 Bridge Lottery, 392, 393. 
 
 Ellison, Henry, panic in Newcastle, 29. 
 
 Ellison, Robert, jun., depositor at Old Bank, 178. 
 
 Elsdon, W. Brewis, solicitor of the Industrial 
 Bank, Limited, 295. 
 
 Elsley, C. H., North Riding Election, 352. 
 
 Elstob, Luke, Stockton, 136, 138 ; acting as agent 
 for Messrs. Backhouse & Co. at Stockton, 264. 
 
 Elton & Co., London agents for Simpson, Chap- 
 man, & Co., 376. 
 
 Embleton, John, counterfeit coinage, 40 ; (Surtees, 
 Burdon, & Co.), 385, 387, 394 ; bankruptcy of, 
 71, 390, 391 ; debts proved against the estate 
 of, 303. 
 
 Embleton, Robert, guarantee fund, 275. 
 
 Embleton, Thomas, counterfeit coinage, 40 ; 419. 
 
 Emm, Wm., Bishop Auckland, 136, 138, 308. 
 
 Emmerson, Benjamin, panic in Newcastle, 29. 
 
 England, Bank of, 3 ; coinage of silver tokens, 19. 
 
 English Coinage, first, 11. 
 
 English Joint Stock Banks, issue of notes allowed 
 by the Acts, 112. 
 
 English Private Banks, issue of notes allowed by 
 the Acts, 112. 
 
 Errington & Ward, panic in Newcastle, 49. 
 
 Errington, John, panic in Newcastle, 49. 
 
 Equivalent Fund, 7. 
 
 Erskine, Henry A., sub-agent, N/c. Branch Bank 
 of England, 213 ; removed to Manchester, 213. 
 
 Esdaile & Co., amalgamation with Smith, Wright, 
 & Gray, London, 349. 
 
 Ettrick, William, affairs of Cooke & Co., 231. 
 
 Evans, Sir John, 266. 
 
 Everett & Co., agents for Mowbray & Co., 311. 
 
 Exchange Bank, The Newcastle, 27, 57, 385; 
 notes of, guaranteed, 385 ; removal of the, to 
 Mosley Street, 386 ; notes of, again supported, 
 386 ; debts proved against the, 393, 394 ; debts 
 paid, 394. 
 
 Exchange of light guineas, &c., for good, 31. 
 
 Exchangers appointed, 31. 
 
 Exchange of new silver coin for old standard 
 coin, 75. 
 
 Exchequer bills, 26. 
 
 Existing banks, first difficulties of, 28. 
 
 Fabbe, E. B. (Bower, Dewsbury, & Co.), 199, 200. 
 
 Paber, Thos. Henry, Auckland Castle, 75. 
 
 Fairless, Caleb, agent for Davison-Bland & Co., 243. 
 
 Pairless, Matthew, guarantee fund, 275. 
 
 Fairley, P. B., 211, 212 ; appointed agent of New- 
 castle Branch Bank of England, 212; transferred 
 to Law Courts Branch, 213 ; promotion of 
 extension of Newcastle Clearing to " Country 
 Clearing," 213 ; commencement of the one 
 o'clock closing, 213. 
 
 Fairs, Joseph, liquidator District Bank, 343. 
 
 Palls, Chas. and Robert, Dunbar, 179. 
 
 Farrer, Oliver, director of the Nat. Prov. Bank, 314. 
 
 Pawcett, Chris., panic in Newcastle, 29. 
 
 Pawcett, Christopher, Recorder of Newcastle, 352, 
 
 Pawcett, John, Durham, 256. 
 
 Peatherston, John and Thos., panic in N/c, 49. 
 
 Featherstonhaugh, M., support of Durham Bk., 308. 
 
 Fenton, Scott, Nicholson, & Smith, Thirsk, 46, 
 265 I suspended payment in panic, 266. 
 
 Fenton, — (Fenton, Scott, & Co.), Thirsk, 265. 
 
 Fenwick, C, & Co., guarantee of notes, 419. 
 
 Fenwick, Messrs. C. & P., 95, 313, 
 
 Fenwick, George, counterfeit coinage, 40. 
 
 Fenwick, George, Associate of English Country 
 Bankers, 120; (Davison-Bland & Co.), 239, 244, 
 245, 261 ; retired, 239 ; photo of, 261. 
 
 Fenwick, Geo. Anthony 239 ; photo of, 252. 
 
 Fenwick, George John 239 ; photo of, 252. 
 
 Fenwick, Gerard, 239 ; photo of, 252. 
 
 Fenwick, Hugh 239 ; retired, 239 ; photo of 261. 
 
 Fenwick, John, counterfeit coinage, 40 , sale of 
 estates of Messrs. Blake, Reeds, & Co., 169 ; 
 Prov. Com. of the Union Bank, 320 ; 418. 
 
 Fenwick, J. R., Durham, 158, 308, 309. 
 
 Fenwick, Mr., Lambton & Co., 212. 
 
 Fenwick, Mark, 239 ; photo of, 252. 
 
 Fenwick, N., 419. 
 
 Fenwick, Richard, Prov. Com. of the Union Bank, 
 320. 
 
 Fenwick, Thomas, liquidation of Blake, Reeds, 
 & Co., 168. 
 
 Fenwick, Thomas (Davison-Bland & Co.), 239, 244, 
 248 ; retired, 239 ; photo of, 261. 
 
 Fenwick, Thomas, Morpeth, agent for Messrs. 
 Davison-Bland & Co., Newcastle, 243. 
 
 Fenwick, Thos., Prov. Com. of the Union Bank, 320. 
 
 Ferry, William, guarantee fund, 275. 
 
 Pidler, Jos., guarantee of notes, 419. 
 
 Fielding, G., North Riding Election, 382. 
 
 Fifty Pound Notes, &c., tax on, 34. 
 
 Pinch, George, support of Durham Bank, 308. 
 
 Finlay, James, 372. 
 
 Fish, Mr., Bank of England, 83. 
 
 Fish V. Ranson, trial of, 83. 
 
 Pishburn, T., agent for Davison-Bland & Co., 283. 
 
 Fisher, Isaac, manager of Swaledale Bank, 401, 
 402. 
 
 Fishwick, Rd., dis. of partnership, Tyne Iron Co., 
 389. 
 
 Fithye, Dorothy, guarantee of notes, 419. 
 
 Five Pound Notes, tax on, 34. 
 
 Fleetwood, Rev., 22 ; sermon against clipping, 125. 
 
 Fletcher, Stubbs, Dew, & Stott, Northallerton, 
 87, 266. 
 
 Fletcher, James, appointed Actuary to the New- 
 castle Savings' Bank, 372. 
 
[445] 
 
 Fletcher, Kobert, anditor N.-E. Banking Co., 329. 
 
 Flmtoff, John, Newcastle, 136, 308. 
 
 Forbes, Sir William, & Co., Edinburgh, 242 ; scar- 
 city of gold in Newcastle, 245 ; " Memoirs of a 
 Banking house," 195. 
 
 Fordyce's "History of Durham," extract from, 232. 
 
 Fordyce, Mr., applications for shares of the New- 
 castle Commercial Bank, 316. 
 
 Fordyce, E., Forged Assignats, 61. 
 
 Foreign gold, circulation of spurious, 27. 
 
 Forgery of Bank Notes, suggestion for prevention 
 of, 107. 
 
 Forgery of notes of Backhouse & Co., description 
 of forger, 138 ; reward offered for detection of 
 forger, 138, 139. 
 
 Formation of a Canal to Winston, 236. 
 
 Forrest, Robt., guarantee of notes, 419. 
 
 Forster, Burrell, Kankin, & Co., Newcastle, founded 
 266, 208; action brought against, by Mr. 
 Harris, 267, 272 ; suspension of payment, 268 ; 
 appointment of a committee of investigation, 
 268 ; discontinued, 248, 268 ; statement of debts 
 and credits of, 269 ; report of committee, 269. 
 
 Forster, Burrell, Rankin, & Harris, 33, 57. 
 
 Forster, Rankin, & Atkinson, Newcastle, 270. 
 
 Forster, Francis (Forster, Burrell, & Co.), 158, 
 266, 267, 270 ; member of the Common Council. 
 270 ; Sheriff of Newcastle, 270 ; Mayor of New- 
 castle, 270 ; died, 270. 
 
 Forster, Geo., form, of the Savings' Bank, 366. 
 
 Forster, James, counterfeit coinage, 40. 
 
 Forster, James, Carlisle, affairs of SurteesA Co., 390. 
 
 Forster, James, particulars of the tontine scheme. 
 
 Forster, Jos., counterfeit coinage, 40. 
 
 Forster, Joseph (Forster, Burrell, & Co.), 266, 270, 
 271 ; married daughter of Henry Scott, Esq., 
 271 ; Mayor of Newcastle, 271 ; joint receiver of 
 the Derwentwater estates, 271 ; died, 271 ; 866. 
 
 Forster, Matthew, support of Durham Bank, 308. 
 
 Forster, R., trustee of Blake & Co., 170 ; 419. 
 
 Forster, William, duel between John Steavenson, 
 and William A. Surtees, 262 ; 419. 
 
 Fortune, Thomas, Heighington, 144. 
 
 Foster, Jos., Hon., M.A., Oxon. history of Back- 
 house family, 153. 
 
 Foster, M. B., guarantee of notes of, 419. 
 
 Foster, Rowland, coinage of '• Hard heddes," 122. 
 
 Fothergill, John, form, of Darlington Bank, 238. 
 
 France, Joseph, prov. dir. of Industrial Bank, 295. 
 
 Francis, " History of the Bank of England," 125. 
 
 Frankeleyn, Wm., Chancellor of Durham, 15. 
 
 Frankland & Wilkinson, 273, 274 ; Whitby^ note 
 issue allowed by Act, 112. 
 
 Frankland, John & James, Whitby, founded, 77, 
 273 ', entered into partnership with Sir Wm. 
 Chaytor,273; trans, to "York City & County," 274. 
 
 Frankland, James (Frankland, John & James), 273. 
 
 Frankland, John (Chaytor & Co.), 225 ; (Frank- 
 land, John & James), 273, 274. 
 
 Frankland, Sir Thomas, support of N. R. Bank, 351. 
 
 Franklin, Messrs., Newcastle, 322. 
 
 French Assignats, forgery of, Pitt, 61, 62. 
 
 French Invasion, goverment orders, returns of 
 farmers' stock, &c., 63 ; run on Newcastle banks, 
 63 ; fear of, 63 ; panic amongst the farmers, 63 ; 
 Newcastle banks suspend payment, 63. 
 
 French troops land in Wales, 63. 
 Fry & Chapman, London, stopped payment, 222. 
 Fryer, George, prov. dir. of Industrial Bank, 295. 
 Frys & Chapman, 129. 
 
 Gadsen, James, dir. of Yorkshire Dis. Bank, 416. 
 
 Gale & Buden, London, 280. 
 
 Galley, John, guarantee fund, 275. 
 
 Garforth, Raper, & Co., 136. 
 
 Gaskell, Mrs., " Sylvia's Lovers," 365. 
 
 Gaskell, Wm., general manager of the Yorkshire 
 
 Agricultural Bank, 412, 413. 
 Gateshead Observer, letter to the editor of the, 
 
 regarding the Nat. Prov. Bank of Gateshead, 315. 
 Geary, John, dir. Loudon and Nor. Bank, 299, 300. 
 Gibbon, Robert, jun., & Co., panic, 275. 
 Gibson, Benjamin, panic in Newcastle, 29. 
 Gibson, George, Ketton, 141. 
 Gibson, George, Stagshaw, 158 ; Old Bank, 174, 
 
 181, 192 ; died, 192. 
 Gibson, G., 419. 
 
 Gibson, George T., solicitor to the Noith of Eng- 
 land Joint Stock Banking Co., 331. 
 
 Gibson, Henry, panic in Newcastle, 29. 
 
 Gibson, John, Tyne Iron Co., dissolution of 
 partnership, 389. 
 
 Gibson, J.P., Hexham, 62. 
 
 Gibson, Leonard, Richmond, 136, 138. 
 
 Gibson, Thomas, Old Bank, 174, 181, 192; died, 
 
 182, 192. 
 
 Gibson, Thomas, Town Clerk, 192. 
 
 Gibson, William, 158 ; panic in Newcastle, 29. ' 
 
 Gilder, Rev. Jonathan, 227. 
 
 Gilholm, Robert, guarantee of notes, 419. 
 
 Gilholm, Thomas, guarantee of notes, 419. 
 
 Gillies, Alex., guarantee of notes, 419. 
 
 Gilpin, Dr., 189. 
 
 Givens, John, guarantee fund, 275. 
 
 Glasgow Arms Bank, 9. 
 
 Glasgow Branch Bank of Scotland, 7. 
 
 Gloucester Branch Bank of England opened, 95. 
 
 Glyn & Co., London Agents of Baxter & Co., 173 ; 
 Dale & Co., 233, 235; Fletcher, Stubbs, and 
 Stott, 266; Raper, Swann, & Co., 362; North 
 Eastern Banking Co., Limited, 329. 
 
 Glyn, Mills, & Co., amalgamation with Curries, 
 Raikes, & Co., 361. 
 
 Glyn, Sir Rich., & Hallifax, bankers, payment 
 stopped by, 21 ; Sir Richard, 233. 
 
 Goddard, D. H., sub-agent Branch Bank of Eng- 
 land, Newcastle, 210; agent, 211 ; resignation 
 of, 212; presented by bankers of Newcastle 
 with silver plate, 212 ; died, 212. 
 
 Goderich, Lord Viscount, 96, 97. 
 
 Gold, appreciation of value of, 76. 
 
 Gold coin, maintenance of the standard of, 188, 
 
 Gold, Joyce, dir. of the York Union Bank, 411. 
 
 " Golden dumplings," The 236. 
 
 Goldsmiths, The, 2, 5. 
 
 Goldsmith's notes, 5. 
 
 Goodburn, John, Ketton, 141. 
 
 Goodchild, Jackson, & Co., Sunderland, founded, 
 68, 129, 274, 275; difficulties of, 69, 77; 
 notes of, supported, 69 ; panic of 1803 ; guarantee 
 fund raised in support of, 275 ; bankruptcy of, 
 77, 276 ; failure of, 93, 232 ; fraud upon, 277, 278. 
 
[446] 
 
 Goodchild, Jackson, Heurtley, & Co., Sunderland, 
 
 363. 
 Goodchild, John (Goodchild, Jackson, & Co.), 129. 
 Goodchild, John, senr., 274, 276, 277, 362. 
 Goodchild, John, jun., 274, 276, 277 ; winding up 
 
 of Messrs. Surtees, Burden, & Co., 390, 362. 
 Goodchild, Lawrence, the " Blind scholar, 277 ; 
 
 died, 277. 
 Goodricke, Sir Henry, coinage of base money, 124. 
 Gordon, riots, commencement of, 44. 
 Gosling & Sharp, bankers, London, 293. 
 Gott, W., jun., guarantee of notes, 419. 
 Goulburn, Mr. J., committee of secrecy, Bank of 
 
 England charter, 108. 
 Gourley, Edward Temperley, director of the 
 
 London & Northern Bank, Newcastle, 300. 
 Government and the question of light gold, 31. 
 Government Stocks, reductions in, 101. 
 Government troubled with " coiners " and " clip- 
 pers," 121. 
 Government the first to break the law prohibiting 
 
 lotteries, 126. 
 Gowrie, Hugh, formation of Joint Stock Bank, 
 
 Darlington, 238. 
 Grace, Nathaniel, director. North of England 
 
 Joint Stock Banking Co., 331, 332. 
 Graham, John, panic in Newcastle, 29, 
 Graham, Sir J., committee of secrecy, Bank of 
 
 England charter, 108. 
 Graham, Mr., early method of " clearing " in 
 
 Scotland, 118; Thistle Bank, Glasgow, 242; 
 
 failure of District Bank, 343. 
 Graham, W. R., Yorkshire & Cleveland Bank, 415. 
 Grainger, J., & Co., 219. 
 
 Grainger, Jos., Commercial Bank, Stokesley, 378. 
 Grainger, Richard, erection of buildings in Grey 
 
 Street, Newcastle, 338 ; building of the New- 
 castle Arcade, 369. 
 Grape Lane, Whitby, account of, 374. 
 Gray, John, guarantee of notes, 419. 
 Graydon, Charles, guarantee fund, 275. 
 Graydon, Richard, guarantee fund, 275. 
 Green, Charles Henry (Dale & Co.), 233 ; died, 233. 
 Green, John, counterfeit coinage, 43. 
 Green, R., South Shields, 65. 
 
 Green, Rev. R., formation of N/c. Savings' Bk., 366. 
 Green, Wm., guarantee of notes, 418. 
 Greenhow, Dr., Newcastle, 271. 
 Greenwell, John, support of Durham Bank, 308. 
 Greenwell, Robert, panic in Newcastle, 29, 49. 
 Greenwood, Abraham, 405. 
 Gregory & Crawford, panic in Newcastle, 49. 
 Gregson, George, guarantee fund, 275. 
 Gregson, S. M., Newcastle Branch Bank of 
 
 England (sub agent), 212. 
 Gresham, Sir Thomas, 83. 
 Grey, Edward, guarantee fund, 275. 
 Grey, Jean, detected in uttering a forged note, 185. 
 Grey, John (Hawks & Co.), 281, 282. 
 Grey, Jos., Prov. Com. of the Union Bank, 320. 
 Grey, R. Wm., panic in Newcastle, 49. 
 Grey, William, support of Durham Bank, 308. 
 Grieve, Davidson, R., panic in Newcastle, 29. 
 Grieve, Wm, failure of Surtees, Burden, & Co., 388. 
 Grievson, F., sec. N/c. Cham, of Commerce, 99, 202. 
 Griffith, John, support of Durham Bank, .308. 
 
 Grimshaw, Webster, & Co., 275. 
 
 Grimthorpe, Lord, 221. 
 
 Grocer's Hall (Bank of England at), 4. 
 
 Grote, Joseph, appointed sub-agent Newcastle 
 
 Branch Bank of England, 207. 
 Grote, Geo., appointed agent Newcastle Branch 
 
 Bank of England, 113, 207, 210, 339 ; resignation 
 
 of, 210 ; death of, 210. 
 Guest, Wm., clipping of coins, 125. 
 Guildhall Library, The, 77. 
 
 Guinea Notes (Scotland), 7 ; exempted from tax, 34. 
 Gurney, John, Norwich, 349. 
 Gurney, Samuel (Overend, Gurney, & Co.), 349. 
 Gurneys, Birkbeck, & Taylor, 269. 
 
 Haddock, William, guarantee fund, 275. 
 
 Hadow, R. P., sub-agent Newcastle Branch Bank 
 of England, 212. 
 
 Hagues, Strickland, & Allen, Malton, founded, 
 77, 199, 279 ; suspension of payment, 93, 279. 
 
 Hague, — (Hagues, Strickland, & Allen), 279. 
 
 Hague, Thomas (Hagues, Strickland, & Allen), 279. 
 
 Haig, Thomas, guarantee of notes, 419. 
 
 Haigh, John, panic in Newcastle, 49. 
 
 Halbert, John Potts, Newcastle, 231 ; offers to take 
 notes of Surtees, Burdon, & Co. for goods, 395. 
 
 Hall & Co., Walter, panic in Newcastle, 49, 50, 51. 
 
 Hall, Gabriel, & Co., 259. 
 
 Hall, Andrew, riot at Sunderland, 73. 
 
 Hall, Newcastle Chamber of Commerce, 98. 
 
 Hall, Gabriel, Newcastle, saddler, 259. 
 
 Hall, James (Bower, Dewsbury, & Co.), 199, 200 ; 
 retirement of, 200. 
 
 Hall, John (Bower, Dewsbury, & Co.), 199, 200. 
 
 Hall, Mr. (Davison-Bland & Co., Newcastle), de- 
 spatched to London for a supply of specie, 247. 
 
 Hall, Samuel, jun., guarantee of notes, 419. 
 
 Halliday, Wm., panic in Newcastle, 49. 
 
 Hallyburton, D. G., director of the National Pro- 
 vincial Bank of England, 314. 
 
 Hammond, Hirst, & Close, Northallerton, 68, 
 280i 281, 351 ; suspension of payment, 281. 
 
 Hammond, Anthony (Hammond, Hirst, & Close) 
 280, 281, 353 ; marriage with Miss Close, 281 
 purchase of the Hutton-Bonville estates, 281 
 death of, 281 ; support of No. Riding Bank, 351. 
 
 Hammond, Geo., dir. of Yorkshire Bkg. Co., 414. 
 
 Hammond, Peter, of Bolton Hall, 281. 
 
 Hanbury, Charles, Halstead, Essex, 256. 
 
 Handasyde, Nathaniel, loss of bank notes, 156. 
 
 Hankey, Thomson, " The Principles of Banking," 
 111. 
 
 Hannay, Alex., man. of Industrial Bk., Ltd., 295. 
 
 Hansen, Francis, agent Britain & Co., Thirsk, 218. 
 
 Hansen, Robt., Prov. Com. Union Bank, 320, 419. 
 
 Harbottle, Wm., 29. 
 
 Hardcastle, Tim. (BeU, Woodall, & Co.), 196, 197. 
 
 Hardinge, Frederick, formation of Dar. Bank, 237. 
 
 Hardy, Jos. (Tweed Bank, Alnwick), 162. 
 
 Harewood, Right Hon. the Earl of, president of 
 the Yorkshire Penny Bank, 418. 
 
 Hargrave, Jos., manager, 323. 
 
 Harland, Sir Charles Hoar, Bart., 257. 
 
 Harland, William Charles, 257 ; M.P. for Durham, 
 257 ; died, 257. 
 
 Harle, Wm. L., formation of Sunderl'd Bank, 383. 
 
L447] 
 
 Harman, Gilbert J., forgeries Bank of England, 80. 
 
 Harrington, Lord, patents granted by Jas. I. to, 17. 
 
 Harris, Joseph (Forster, Burrell, & Co.), retired, 267 ; 
 action against Commercial Bank, 267, 272. 
 
 Harrison & Co., London agents for Smith, Elstob, & 
 Co., 264 ; Hayes, Leatham, Hodgson, & Co., 
 283; Sir John Lawson & Co., 296 ; Pease & Co., 
 845 ; suspension of payment of, 805, 350. 
 
 Harrison, Swainston, Barnard Castle, 136, 138, 359. 
 
 Harrison, John, Prov. Com. Union Bank, 320. 
 
 Harrison, Joseph, 275, 419. 
 
 Harrison, Ralph, support of Durham Bank, 308. 
 
 Harrison, Robert (Harrison & Co.), 296 ; Sunder- 
 land, 363, 364. 
 
 Harrison, Thomas (Harrison & Co.), 296 ; failure 
 of Surtees & Co., 388. 
 
 Hart, Henry, 419. 
 
 Hartas, William, Spaunton, 136. 
 
 Harvey, Thomas, 49. 
 
 Harvey, Thomas, form, of N/c. Savings' Bank, 866. 
 
 Hassal George, 275. 
 
 Hastings, John, 149. 
 
 Haswell, W., 419. 
 
 Hatchett, Chas., forgeries on Bank of England, 80. 
 
 Hatfield, Bishop, marking of coins of, 15. 
 
 Haughton Paper Mills, 60 ; paper for forged 
 assignats made at, 61. 
 
 Havelock, William, Sunderland, 364. 
 
 Hawdon, Thomas, 29. 
 
 Hawkes, Wm., 49. 
 
 Hawkins, George, 193. 
 
 Hawks, Grey, Prieatman, & Co., Newcastle, 
 founded, 116, 117, 233, 281, 285, 343; account 
 of the New Bank project, 281 ; dissolution of 
 partnership, 282. 
 
 Hawks, Geo., form, of the N/c. Savings' Bank, 366. 
 
 Hawks, John, 49, 366. 
 
 Hawks, Joseph (Hawks & Co.), 281, 282. 
 
 Hawks, Mr., suspension of District Bank, 343. 
 
 Hawks, W. S., form, of the N/c. Savings' Bank, 366. 
 
 Hay, Andrew Leith, director of the National Pro- 
 vincial Bank, 314. 
 
 Hay, Lord Wm. Montague, 323. 
 
 Hayes, Leatham, Hodgson, Walker, & Lister, 
 Malton, 46, 57, 228, 283, 298. 
 
 Hayes, Commodore, 380. 
 
 Hayes, Mrs. Dorothy, 284. 
 
 Hayes, Thomas (Hayes, Leatham, & Co.), 283 ; 
 separates from his wife, 283 ; built Aislaby 
 Hall, near Pickering, 283 ; death of, 284. 
 
 Haygarth, Wm., Kidside Lodge, Westmorel'd, 364. 
 
 Hays, Henry, 48. 
 
 Hays, John, 419. 
 
 Hayton, William, 275. 
 
 Hazlet, Robert, execution of, for robbery, 27. 
 
 Headlam, Ven. Arch., election of Registrar for the 
 No. Riding of Yorkshire, 352. 
 
 Headlam, T. E., 49, 50, 51. 
 
 Headlam, Thomas E., M.P., Joint Stock Banks, 
 114 ; extracts from speech by, 114, 115 ; report 
 of Com. of Investigation into the affairs of 
 Messrs. Burden, Forster, & Co., 269, 
 
 Headlam, T. E., Gateshead, 158 ; failure of Surtees, 
 Burdon, & Co., 388. 
 
 Headlam, T, E., form, of N/c. Savings' Bank, 366. 
 
 Hearn, John, 419. 
 
 Heaton & Morritt, Hull, 219. 
 
 Heaton, W., Sunderland Bridge Lottery, 392. 
 
 Hebden, Edward Hopper (Bell, Woodall, & Co.), 
 
 196 197 198 
 Hebden, William (Bell, Woodall, & Co.), 196, 197, 
 
 198 ; married Julia, daughter of Col. Salmond. 
 Hedley, John & Son, 49. 
 Hedley, Anthony, secretary Newcastle Savings' 
 
 Bank, 367 ; resignation of, 367. 
 Hedley, John (Baker, Shafto, & Co.), 29, 155, 158, 
 
 160; Sheriff of Newcastle, 160; Mayor of 
 
 Newcastle, 100 : death of, 160. 
 Hedley, Jos., Prov. Com. of the Union Bank, 320. 
 Hedley, Jos., jun., 320. 
 Hedley, Joshua, Stockton, 136. 
 Hedley, Matt., 49. 
 
 Hedley, Samuel, manager London Bank of Scot- 
 land, Ltd., Newcastle, 303 ; manager North of 
 
 England Joint Stock Banking Co., 332. 
 Hedley, T., N/c. Chamber of Commerce, 98, 201, 202. 
 Hedley, Thomas, dir. No.-Eastern Bank. Co., 329, 
 Hemingway & Wilson, Leeds, 46. 
 Henderson, George, 49. 
 Henderson, Gilbert, first current account opened 
 
 at Backhouse & Co., Durham, 143. 
 Henderson, John, M.P., winding up of the North 
 
 of England Joint Stock Bank, 333, 334. 
 Henry III, mandate of, 16, 
 Heppell, John, 275, 
 
 Heppell, Rich., formation of Darlington Bank, 237. 
 Hepple, Robert, Northumberland Bank, 163, 164, 
 
 173 ; purchase of West Bellasis, 173 ; marriage 
 
 with Dorothy Cook, 173. 
 Heron, Ralph, 49, 60, 61. 
 Heron, Roger, Newcastle, hardwareman, 259. 
 Herries, Mr., committee of secrecy. Bank of 
 
 England charter, 109. 
 Heslop, John, coinage of base money, 25 ; arrested 
 
 on suspicion of coining, 123. 
 Heslop, R. 0., execution for the offence of uttering 
 
 forged notes, an account by, 86. 
 Heurtley, C. A., 129, 274, 362, 363. 
 Heweth, J., 419. 
 Hewgill, Henry, formation of Darlington Bank, 
 
 237 ; election of Registrar for the North Riding 
 
 of York, 352. 
 Hewison, Edward, 418. 
 Hewison, Robert, 419, 
 Hewison, Wm. F., 418, 
 Hewison, Middleton, 29. 
 Hewitt, R., 419. 
 
 Hewitt, Thos., suspension of the Union Bank, 323. 
 Hewson, John, winding up of the North of England 
 
 Joint Stock Bank, 333, 334. 
 Heywood, Mr., committee of secrecy, Bank of 
 
 England charter, 108. 
 Hildyard, Sir Robert D'Arcy, 361. 
 Hill, Thos. W., formation of Darlington Bank, 287. 
 Hills, Ralph, 275, 
 Hindmarsh, George, 419, 
 Hindmarsh, Thomas, 29. 
 
 Hirst, Abraham, dir. of the Yorkshire Bkg. Co., 414. 
 Hirst, Godfrey, Northallerton, 136, 138. 
 Hirst, Henry (Hammond, Hirst, & Close), 230. 
 Hoar, Charles, third son of George Hoar, 258 ; 
 
 married i\liss Harland, of Sutton Hall, 258; 
 
[448] 
 
 assumed the name of Harland, 250 ; created a 
 baronet, 258, died, 258. 
 Hoar, G. (Lambton & Co.), 129, 305. 
 Hoar, George, deputy-keeper of the jewels at the 
 Tower, 268. 
 
 Hoar, George, jun. (Davison-Bland & Co.), 239, 
 240, 241, 242, 254, 257, 258, 259 ; retired, 239, 
 245 ; lottery tickects, 242 ; autograph of, 244 ; 
 commission in the East India Co., 257; active 
 partner in Bland, Hoar, & Co., 257 ; crest of, 
 257 ; died, 258. 
 
 Hoar, Thomas, youngest son of George Hoar, 258 ; 
 married Miss Bertie of Low Layton, Essex, 258 ; 
 entered the navy, 258 ; attained the rank of 
 admiral, 258 ; assumed the name of Bertie, 258 ; 
 as Admiral Sir Thomas Bertie, 258 ; died, 258. 
 
 Hoar, William (Davison-Bland & Co.), 239, 241, 
 254, 256, 305 ; autograph of, 244 ; appointed 
 Recorder of Durham 256 ; assumed the surname 
 of Harland, 256 ; died, 257. 
 
 Hoar, William, support of Durham Bank, 308, 309. 
 
 Hoar, William, Limehouse, 254, 256, 305. 
 
 Hoare, Edward, pedigree of the Hoare family, 
 257. 
 
 Hoare, Henry, Stourhead, armorial bearings of, 
 257, 258. 
 
 Hoare, John Gurney, 285. 
 
 Hoare, Sir R., Lord Mayor of London, 257, 258. 
 
 Hoare, Robert Gurney, 284, 285 ; photo of, 284. 
 
 Hoddle, Mr., N/c. Branch Bank of England, 204. 
 
 Hodgkin, Barnett, Pease, & Spence, founded, 117, 
 119, 120, 284, 285, 286, 300, 303; establish- 
 ment of branches of, 286. 
 
 Hodgkin, John, Lewes, Sussex, 285. 
 
 Hodgkin, Thomas, 284, 285 ; Assoc, of English 
 Country Bankers, 120 ; photo of, 284. 
 
 Hodgson — (Davison-Bland & Co.), 239. 
 
 Hodgson, Christopher (Clarke, Richardson, and 
 Hodgson), 227 ; retirement of, 228. 
 
 Hodgson, Geo., support of Durham Bank, 308. 
 
 Hodgson, Kirkman, 211. 
 
 Hodgson, Richard, form, of Darlington Bank, 237. 
 
 Hodgson, R. W., director No.-Eastern Bkg. Co., 329. 
 
 Hodgson, Solomon, counterfeit coinage, 43. 
 
 Hodson, S., Bywell,158. 
 
 Hogg, James, 275. 
 
 Hogg, Joseph, 49. 
 
 Hogg, Thos, prov. com. of the Union Bank, 320. 
 
 Hogg, William, 419, 
 
 Hollingsworth & Co., London, 129. 
 
 Hollingsworth, Geo. Lewis (Richardson and Mow- 
 bray), 310, 353, 354, 355, 356, 358; pamphlet 
 regarding failure of Hollingsworth & Co., 357. 
 
 Holmes, John, Kendal, 161. 
 
 Holmes, Mr., application for shares of District 
 Bank, 335. 
 
 Holmes, Thos., Kendal, 364. 
 
 Holmes, William, dir. Northumberland and Dur- 
 ham District Bank, 336. 
 
 Holt & Richardson, Whitby, 219. 
 
 Holt, John (Richardson & Co.), 228 ; died, 229. 
 
 Holt, John, Whitby, 229 ; died, 229. 
 
 Holt, William, Commercial Bank, Stockton, 379; 
 district inspector of the Nat. Prov. Bank, 382. 
 
 Hone, Wm., " Cruickshank's note," 84. 
 
 Hood, Anth., 47, 50, 51, 388, 
 
 Hood, James, Morpeth agent London and Nor. 
 
 Bank, .301. 
 Hood, J. L., duel between John Steavenson and 
 
 Wm. A. Surtees, 262. 
 Hopper & Monkhouse, 49. 
 Hopper, Hendry (Mills, Robinson, and Co ) 307, 
 
 310 ; dissolution of partnership, 310. 
 Hopper, J. T. H., support of Durham Bank, 308. 
 Hore of Risdon, armorial bearings of the family 
 
 of, 257. 
 Horn, Thomas, & Son, 275. 
 Horn, Nath., 275. 
 Hornsby, Hugh, 158. 
 Horner, Clark, & Co., 419. 
 Horner, Benjamin, director of the York City & 
 
 County Banking Co., 409. 
 Horsley, James, speculates in notes of Blake, Reed, 
 
 & Co., 166. 
 Hounsom, Henry Jos., 49. 
 House of Commons, returns of silver coins, 75 ; 
 
 debate on the circulation of Scottish notes in 
 
 England, 101. 
 Howard, John, dir. of Yorkshire Banking Co., 414. 
 Howe, George, panic, 275. 
 Howlgate, John, 275. 
 
 Howson, Mrs. Martha, Black Lion Hotel, 288. 
 Hoyle, R., N/c. Chamber of Commerce, 98, 202. 
 Hudson, George, director of the York Union 
 
 Banking Co., 411. 
 Humble, C. J., & Co., 275. 
 Humble, John, panic in Newcastle, 49. 
 Humble, Stephen, 49. 
 Hume, Hugh, 419. 
 Hume, R., 419. 
 Hunnam, G., 419. 
 Hunter, John, Hermitage, 158. 
 Hunter, John, 275, 419. 
 Hunter, Thomas, panic, 275. 
 Huskisson, Mr., paper currency, 58 ; debate on the 
 
 speech of T. E. Headlam, Esq., M.P., 115. 
 Hutchinson & Place, Stockton, 219, 287, 379; 
 
 suspend payment, 93. 
 Hutchinson, George, Thomas, & Henry, Stockton, 
 
 founded, 33, 57, 287 J failed, 287 ; extensive 
 
 robbery upon, 290 ; particulars of some of the 
 
 bills recovered from robbery upon, 291. 
 Hutchinson, George (Hutchinson & Co.), 287, 289 ; 
 
 Mayor of Stockton, 289. 
 Hutchinson, George, jun. (Hutchinson & Co.), 
 
 287, 289 ; committed to prison for marrying 
 
 Miss Dawson, 289 ; captain in " The Loyal 
 
 Stockton Volunteers, 289 ; Mayor of Stockton, 
 
 289 ; died at Whitton, 289. 
 Hutchinson, George P., formation of Darlington 
 
 Bank, 237. 
 Hutchinson, G. T., Tees Bank, 289. 
 Hutchinson, Henry (Hutchinson & Co.), 287, 289 ; 
 
 Mayor of Stockton, 289 ; died at Douglas, 289. 
 Hutchinson, Henry (Hutchinson & Co.), 287, 289 ; 
 
 died, 289. 
 Hutchinson, John, counterfeit coinage, 40. 
 Hutchinson, John, Penrith, 287. 
 Hutchinson, John (Hutchinson & Co.), 287, 288, 
 
 289 ; bankruptcy of, 287 ; sale of estate of, 288 ; 
 
 dispute regarding reported destruction of the 
 
 books of Hutchinson & Co., 288 ; lieutenant in 
 
[449] 
 
 the Royal Stockton Volunteers, 289 ; Major of 
 Stockton, 289 ; family related to Wordsworth, 
 the Poet Laureate, 289 ; member of the Stockton 
 Corporation, 290 ; petition to Parliament in 
 favour of the proposed "Northern or Tees and 
 Weardale Road," 290 ; died, 290. 
 
 Hutchinson, J., support of Durham Bank, 308, 419. 
 
 Hutchinson, Ralph, Stockton and Dar. Canal, 230. 
 
 Hutchinson, Thos. Smeaton, 136. 
 
 Hutchinson, Thos., Stockton and Dar. Canal, 230. 
 
 Hutchinson, Thomas (Hutchinson & Co.), 287. 
 
 Hutchinson, Wm., Stockton & Dar. Canal, 230,419. 
 
 Hutton, Other, & Co., Richmond, G8, 102, 291, 
 293, 294, 401 ; deputy receivers for the Inland 
 Revenue, 291, 293 ; converted into Swaledale & 
 Wensleydale Banking Co., 294. 
 
 Hutton, Other, & Simpson, Richmond, 291. 
 
 Hutton, Wood, & Co., 292. 
 
 Hutton, E. T. (Bower, Dewsbury, & Co.), 199, 200. 
 
 Hutton, H. W. (Bower & Co.), 199, 200. 
 
 Hutton, John (Hutton, Other, & Co.), 291, 292, 294. 
 
 Hutton John, dir. Swaledale and Wensleydale 
 Banking Co., 401. 
 
 Hutton, Robert, agent for Davison-Bland & Co., 
 N/c , 243, 275. 
 
 Hymers, Thos., prov. com. of the Union Bank, 320. 
 
 Ibbetson, Cakb. support of Durham Bank, 308. 
 
 Ibbetson, F., 419. 
 
 Industrial Bank, Limited, Newcastle-upon-Tyne, 
 founded, 117, 294 ', prospectus of, 294 ; opened 
 for business, 295 ; report of the directors, 295 ; 
 dividend, 295 ; the Ouseburn Engine Works, 
 295 ; failed, 296 ; negotiations for amalgamation 
 with the Wholesale Co-operative Society, 296. 
 
 Ingham, Wm., 49. 
 
 Ingledew & Daggett, solicitors, London & Nor. 
 Bank, 301. 
 
 Inundation of the Tyne, relief fund opened, 28. 
 
 Irvine, Sir Alex. Ramsay, support of North Riding 
 Bank, 351. 
 
 Irving, Mr. com. of secrecy, Bank of E. charter, 108. 
 
 Ismay, Thomas, 29. 
 
 Jackson, Goodchild, & Co., London, 129, 274. 
 
 Jackson, James, 274, 275, 276, 277. 
 
 Jackson, Jeffrey, 394. 
 
 Jackson, John (Goodchild, Jackson, & Co.), 129, 
 
 274, 276. 
 Jackson, John, Burdon, 141. 
 Jackson, Rd., petition to Parliament against the 
 
 proposed " No. or Tees and Weardale Rd., 290. 
 Jackson, Robert, Dumfries, 137. 
 Jackson, Wm. (Goodchild, Jackson, & Co.), 129, 
 
 274, 276. 
 James, John, seizure of halfpennies, 42 ; support 
 
 of Durham Bank, 308. 
 James, Jos., 419. 
 James, P. M., Birmingham, 96. 
 James, William, director of Nat. Prov. Bank, 314. 
 Jameson, Thos., arrested for forgery of notes of 
 
 Newcastle Bank, 185, 186. 
 Jamieson, Thomas, dir. Nor. and Durham District 
 
 Bank, 336, 
 Jaques, Robert, director of the Swaledale and 
 
 Wensleydale Banking Co., 401. 
 
 Jefferson, Benjamin, Beaumont Hill, 141. 
 
 Jefferson, Francis, prov. com. Union Bank, 320. 
 
 Jefferson, John, 419. 
 
 Jefferson, Robt., prov. com. Union Bank, 320. 
 
 Jennett, T., adoption of paper money, 76. 
 
 Jersey, Earl of, support of Newcastle banks, 53. 
 
 Jews and Banking, 1, 24. 
 
 " John Payne of the Bank of England," 25. 
 
 Johns, J. W., dir. of London and Nor. Bank, 299. 
 
 Johnson, Dr., Lord Eldon and the story of the 
 snails, 260. 
 
 Johnson, Fras., 49. 
 
 Johnson, George, support of Durham Bank, 308. 
 
 Johnstone, Sir Harcourt, Bart., M.P., dir. N.-E. 
 Banking Co., 329. 
 
 Johnson, Jacob, counterfeit coinage, 40. 
 
 Johnson, John, Bebside, 192. 
 
 Johnson Wm., 29. 
 
 Joicey, Mr., failure of District Bank, 343. 
 
 Joint Stock Banks, secret committee appointed to 
 enquire into, 109 ; distress caused by failure of, 
 114 ; introduction of Bill to limit responsibility 
 of shareholders in, 114. 
 
 Joint Stock Companies, formed, 91. 
 
 Jolly, John, Worsall, 140. 
 
 Jones, Lloyd, & Co., London bankers for the No. 
 of England J. S. Bkg. Co., 332. 
 
 Jones, Thomas (Goodchild, Jackson, & Co.), 274, 
 276, 277, 278 ; fraud upon Messrs. Goodchild & 
 Co., 277 ; statement of the position of affairs of, 
 with Wear Bank, 278 ; reward offered for the 
 apprehension of, 279, description of, 279. 
 
 Joplin & Co., raff merchants, Egypt, N/c, 78, 104. 
 
 Joplin, Andrew, Satley, 104. 
 
 Joplin, Caleb, Satley, 104. 
 
 Joplin, Thos., 102 ; commencement of agitation of, 
 88 ; issue of pamphlets in favour of Scotch bank- 
 ing, 89 ; attempt to legalise Joint Stock Banks, 
 90 ; meeting to form a Joint Stock Bank, 90 ; 
 petitions Parliament on the subject of the cur- 
 rency, 91 ; renews his agitation, 96 ; sketch of 
 the life, &c., of, 104, 105 ; writings of, 105 ; on 
 the currency question, 105 ; advocates the forma- 
 tion of a bank, 105 ; formation of Prov, Bank of 
 Ireland, 105; becomes secretary of Prov. Bank 
 of Ireland, 106 ; promotes the establishment of 
 Joint Stock Banks, 106 ; attempts to form a 
 bank in Northumberland, 106 ; forms banks at 
 Huddersfield, Bradford, and Norwich, 106 ; for- 
 mation of Nat. Prov. Bank of England, 106, 313, 
 314 ; efforts to convert private banks into one 
 Joint Stock Co., 107 ; death of, 107 ; early com- 
 mercial customer of Davison-Bland & Co., 244 ; 
 disagreement with directors of Nat. Prov. Bank, 
 314; "Banking upon Joint Stock Principles," 
 330 ; portrait of, 104. 
 
 Jordeson, Miles, 419. 
 
 Jowsey, Thomas, Bishopwearmouth, 276. 
 
 Kay, George (Sir John Lawson & Co.), 269, 297. 
 
 Keating, R., M.P., dir. of the N/c. Comcl. Bank, 317. 
 
 Keene, Rev. Wm., Whitby, 228. 
 
 Keenleyside, Dr., form, of Darlington Bank, 237. 
 
 Keenleyside, Richd., 49. 
 
 Kellow, Bishop, marked coins of, 15. 
 
 Kelly, Mr., coins issued by, 73. 
 
[450] 
 
 Kennedy, Alderman R. H., director of the N/c. 
 Commercial Bank, 317. 
 
 Kent, Wm. (Forster, Burrell, & Co.), 266, 268, 272. 
 
 Ker, John S., 29. 
 
 Kidd, J. A., Newcastle, 83. 
 
 Kidd, Robt., Prov. Com. of the Union Bank, 520. 
 
 Kidson, John P., Sunderland, 277. 
 
 Kilvington, Chris., 275. 
 
 Kimpster, J. &. J., form, of the Sund. Jt. S. Bk., 383. 
 
 Kindersley, Vice-Chancellor Sir R. Torin, 344. 
 
 King, James, Newcastle, 186, 
 
 King, Lord, notice to tenants, 76. 
 
 Kingston, Chas., agent for Davison-Bland & Co., 
 Newcastle, 243, 244. 
 
 Kingston, Wm. (Davison-Bland & Co.), 244. 
 
 Kipling, John, formation of Darlington Bank, 237. 
 
 Kirby, E. H., manager Sunderland branch York 
 City and County Banking Co,, 410. 
 
 Kirby, Mary, first deposit Backhouse & Co., 
 Durham, 143. 
 
 Kirk, Aid., form, of the Sunderland Joint Stock 
 Bank, 383, 384. 
 
 Kirk, William, 275. 
 
 Kirkup, John, 29. 
 
 Kirsop, John, 29 
 
 Kirsop, William, 275. 
 
 Kirsopp, Mr., 169. 
 
 Kirton, Isaac, 419. 
 
 Kirton, John (Masters & Co., London), 240. 
 
 Kirton, Wm., support of Durham Bank, 308. 
 
 Knaggs, John, 275. 
 
 Knight, Batson, & Co. (Remington & Co.), 129. 
 
 Knight, John, Bank of England, 203. 
 
 " Knights of St. Crispin," The, 43. 
 
 Knowles, Robert, North Shields Ipostman, execu- 
 tion of, 33. 
 
 Knox, Wm., Prov. Com. of the Union Bank, 320. 
 
 Lacy, Riohabd, panic in Newcastle, 29. 
 
 Laidman, Francis, 419. 
 
 Laing, J. & P., 275. 
 
 Laing, Jos., Prov. Com. Union Bank, 320. 
 
 Laing, Robert, 418. 
 
 Lamb, John & Son, 275. 
 
 Lamb, H., Ryton, 158. 
 
 Lamb, J., N/c. Chamber of Commerce, 98, 201, 202. 
 
 Lamb, Joseph, Lemington, 158. 
 
 Lamb, Joseph (Baker, Shafto, & Co.), 155, 156, 160 ; 
 marriage with heiress of Humble family, Ryton, 
 160 ; with Miss Maude of Sunnyside, 160. 
 
 Lamb, R. 0., 159, 160. 
 
 Lambert & Co., Newcastle, 305. 
 
 Lambert, Mr., arrangements respecting creditors 
 of Northumberland Bank, 169 
 
 Lambert, Richard, 29, 49. 
 
 Lambton Banking Co., The, 249. 
 
 Lambton & Co., Newcastle-upon-Tyne, 34, 57, 58, 
 103, 119, 120, 129, 181, 205, 208, 296 ; pur- 
 chase of £10,000 Consols, 53 ; panic, 77 ; 
 stability of, 78 ; notes of, accepted, 164, 181 ; 
 panic in Newcastle, 247 ; suspension of pay- 
 ments, 49, 247 ; re-opening of, 248 ; Tyne Bank 
 make overtures to, 248 ; reply of, to Tyne Bank, 
 248 ; scarcity of gold in Newcastle, 248 ; meet- 
 ings held in support of local banks, 248 ; distri- 
 bution of notes, 249 ; change in partnership, 249 ; 
 
 issue of prospectus proposing to form Joint 
 Stock Bank, 240, 250, 251 ; autograph of, 251 ; 
 withdrawal of notes of, from circulation, 110, 
 252 ; purchase of premises of District Bank, 
 252 ; celebration of centenary of, 252 ; issue of 
 annual balance sheet, 253 ; balance sheet, 253 ; 
 photographs of past partners of, 261 ; reference 
 to Benjamin Dunn in papers of, 264; formation 
 of a sub-branch at Gateshead, 314 ; erections of 
 buildings now occupied by, 116, 338. 
 
 Lambton, Bulman, & Co., 64, 248. 
 
 Lambton, Williamson, & Co., early method of 
 " Clearing," 118. 
 
 Lambton, H., 53. 
 
 Lambton, H., M.P., 266. 
 
 Lambton, Henry Ralph (Davison-Bland & Co.), 
 239 ; celebration of centenary of R. J. Lambton 
 & Co., 253 : photograph of, 252. 
 
 Lambton, Ralph Edward (Davison-Bland & Co.), 
 239 ; photograph of. 252. 
 
 Lambton, Ralph John (Davison-Bland & Co.), 239, 
 245, 246, 248, 249, 261 ; retired, 239 ; lottery 
 tickets, 243 ; letter to, re condition of bank, 246 ; 
 panic in Newcastle, 247, 248 ; photo, of 261. 
 
 Lambton, William, Lambton, 254. 
 
 Lambton, William Henry (Davison- Bland & Co.), 
 239 ; retired, 239. 
 
 Landell & Chambers, 71, 29. 
 
 Landell, Mr. (Landell & Chambers), 71. 
 
 Landell, David, 129, 189, 239, 240, 241, 242, 260 ; 
 (Davison-Bland & Co.) ; retired, 239 ; auto- 
 graph of, 244 ; death of, 246. 
 
 Lane, Son, and Fraser, failure of, 48. 
 
 Langhorn, John (Tweed Bank), 162, 310; auto- 
 graph of, 311. 
 
 Langley Paper Mills, paper for forged assignats 
 made at, 61. 
 
 " Larchfield Diary," gold circulation, 116. 
 
 Lascelles, The Hon. G. E., director North-Eastern 
 Banking Co., 329. 
 
 Law, Parmery John, director of the Newcastle 
 Commercial Bank, 317. 
 
 Lawson, "History of Banking," 54, 111; state- 
 ment of Stamp Act, 73. 
 
 Lawson, Sir John, Richmond, founded, 46, 57, 58, 
 296. 297, 362; autograph of, 311, 296, 297; 
 died, 297 ; announcement of the death of, 298. 
 
 Lawson, George, 275. 
 
 Lawson, James, 275. 
 
 Lawson, John, 275. 
 
 Lawton, Samuel, 49, 50, 51. 
 
 Laycock, Thomas, director of the York City and 
 County Banking Co., 409. 
 
 Leach, Pollard, & Co., Bradford, 136. 
 
 Leatham, Tew, & Co., Pontefract, 284. 
 
 Leatham, Capt., York City, Dar. Branch, 239. 
 
 Leatham, Henry, 284. 
 
 Leatham, Isaac (Hayes, Leatham, & Co.), 284; 
 purchase of an interest in the Marquis of Salis- 
 bury's Tinnington estates, 284. 
 
 Leatham, John, Pontefract, 136, 137. 
 
 Leatham, Wm., on the currency question, 97, 115 ; 
 Leatham, Tew, & Co., 284. 
 
 Lee, Joseph, 275. 
 
 Lee, WilUam, 275. 
 
 Leefield Colliery, owners of, 275. 
 
[451] 
 
 Lefevre & Co., London agents for Eaikes & Curry, 
 Malton, 361. 
 
 Lefevre, Currie, James, & Yallowby, 361. 
 
 Legg, James, 419. 
 
 Legg, Lewis, support of Durham Bank, 308, 
 
 Leicester Branch Bank of England closed, 211. 
 
 Leslie, James, 418. 
 
 Leslie, A., 418. 
 
 Lewes, The Very Rev. John,-M.A., 898. 
 
 Lewin, Sir Gregory, trial of Bolam for the Savings' 
 Bank murder, 371. 
 
 Liddell, George, 49. 
 
 Liddell, Hon. H. T., M.P., petition re small notes, 
 98,99. 
 
 Liddell, Thomas, support of Durham Bank, 308. 
 
 Lightfoot, George D., formation of Dar. Bank, 237. 
 
 Light gold and smuggling, 300. 
 
 Limited Liability, law of, passed, 116. 
 
 Linskill, William, 418. 
 
 Lishman, Elizabeth, 418. 
 
 Lisle, Ben., 419. 
 
 Lisle, Robert, 29, 49. 
 
 Lister & Co., Scarboro', 68, 283, 2981 failed, 
 299. 
 
 Lister, Morrison, & Co., Scarboro', 283, 298, 299. 
 
 Liverpool, Lord, debate on Mr. Headlam's speech, 
 115. 
 
 Livingstone, Mowat, & Co., 8. 
 
 Lloyd, William, failure of Surtees & Co., 388. 
 
 Lloyd's Banking Company, Limited, 285. 
 
 Local mints established, 13. 
 
 Locke, Robert, Newcastle, 194. 
 
 Lockwood, George, manager of North of England 
 Joint Stock Banking Co., 332. 
 
 Lodge, John, 288. 
 
 Lofthouse, John, support of Durham Bank, 308. 
 
 Logan, Alex., manager Scottish Border Bank, 303 ; 
 agent London & Scottish Bank, Berwick, 303. 
 
 Logan, W. H., General Comptroller of Agencies, 
 303, 304 ; claim for three years' salary, 304. 
 
 Loggan, T., N/c, Chamber of Com., 201, 202. 
 
 Lombards, The, 2. 
 
 London, early banking, 1. 
 
 London agents, 5. 
 
 London banks, failure of, 48. 
 
 Lincoln, Thomas, Secretary of the Tyne Exchange 
 Banking Co., 403. 
 
 London banks, appointment of fresh agents, 48. 
 
 London bankers, inability of, to procure coin, 67. 
 
 London, Bank of Scotland, Ltd., Newcastle-upon- 
 Tyne, founded, 117, 303, 328 ; woundup, 304 ; 
 claim by INIr. Logan for three years' salary, 304. 
 
 London and Brazilian Bank, The, 213. 
 
 London and County Bank, London, 405. 
 
 London and Northern Joint Stock Bank, Limited, 
 328 ; founded, 117, 299, 300, 301 ; circular re 
 formation of, 299 ; issue of a second circular, 
 300 ; opening at Newcastle, 301 ; terms of busi- 
 ness of, 301 ; opening of a branch at Hexham, 
 301 ; amalgamation with the Midland Banking 
 Co., 301, 302 ; attempt to extort money by one 
 of the shareholders, 301 ; prosecution of the 
 shareholder, 302 ; extract from an article upon 
 the prosecution, 302 ; Newcastle Branch aban- 
 doned, 302. 
 
 London and Scottish Bank, The, 303. 
 
 London and Westminster Bank, 333 ; refuse the 
 drafts of the Yorkshire Agricultural Bank, 412. 
 
 Longridge and Bushby, agents for Messrs. Davison- 
 Bland, & Co., 243. 
 
 Longridge, Michael, 275. 
 
 Longstaff, George, 275. 
 
 Loraine, Sir Chas., & Co., N/c, 157, 304. 
 
 Loraine, Baker, & Co., 64, 69, 157, 181 ; panic, 
 77; decline business, 78, 141, 157, 182, 249; 
 satisfactory state of accounts, 78 ; notes of, 
 guaranteed, 78, 181 ; payments guaranteed, 158. 
 
 Loraine, Sir Chas. (Baker, Shafto, & Co.), 155. 
 
 Loraine, Sir Wm. (Baker & Co.), 155, 157, 160. 
 
 Losh, James, North Riding Election, 352 ; forma- 
 tion of Savings' Bank, 366. 
 
 Loss sustained on discounted bills, 216. 
 
 Lottery handbills. Illustrations of, 127. 
 
 Lottery tickets, 25 ; investments in, 242, 243. 
 
 Lough, the forger, account of, 186 ; escape of, 187, 
 
 Louth, John S., form, of the N.-E. Bkg. Co., 328. 
 
 Lowes and Scaling, 275. 
 
 Lowes, Francis, 275. 
 
 Lowes, Wm., 29. 
 
 Lowndes, James, dir. of No. of E. Bkg. Co., 331. 
 
 Lowrey, Wm., trustee of Blake, Reeds, & Co., 170. 
 
 "Loyal Dale Volunteers," description of the, 293. 
 
 Lubbock & Co., London agents for Pease, Dunn, & 
 Co., 345. 
 
 Lubbock, Sir John, collection of bank notes, 77. 
 
 Ludlow, Geo., counterfeit coinage, 43. 
 
 Lumley, Brown, and Smith, Stockton, 305. 
 
 Lumley, Smith, & Co., Stockton, 33, 57, 219, 304, 
 305 ; bankruptcy of, 77, 173, 232, 305, 379. 
 
 Lumley, Wilkinson, & Snowdon, Stockton, 305. 
 
 Lumley, Benjamin (Lumley, Smith, & Co.), 136, 
 137, 304, 305, 306 ; Mayor of Stockton, 305. 
 
 Lumley, John Fred. (Lumley, Smith, & Co.), 304. 
 
 Lutwidge, Thos., Whitehaven, 189. 
 
 Lynn, Joshua, 275. 
 
 Lynn, R. N. (Baker, Shafto, & Co.), 155, 156, 157. 
 
 Lynn, Robert Newton, Tyne Bank, reply of Messrs. 
 'Lambton & Co. re proposed amalgamation, 249. 
 
 Lyon, James, 419. 
 
 Lyon, Thomas, 29. 
 
 Mabek, James, executed for coining, 122. 
 Maberly, John, M.P., circulation of Scottish notes 
 
 in England, 101. 
 Maberly, Colonel, Committee of Secrecy, Bank of 
 
 England Charter, 108. 
 Macdonald, Robt. H., support of Durham Bk., 308. 
 Mackreth, Mr., failure of District Bank, 343. 
 Maclellan, Geo., support of Durham Bank, 308. 
 Macleod, H. D., " Theory and Practice of Bank- 
 ing, 54. 
 ^Magistrate to the Keeper of Newcastle Gaol, order 
 
 of the, 354. 
 " Maguire's account of the Coronation," 347. 
 Mail bags, robbery of, 27. 
 Maire, Henry, Lartington, 298. 
 Maling, John, Sunderland Bank, 362, 363, 364 ; 
 
 mar. a daughter of Hugh Awdos, 364 ; mar. 
 
 widow of Hodgson Thompson ; death of, 364. 
 Mallock, Andrew, agent Berwick Branch Newcastle 
 
 Joint Stock Bank, 323. 
 Malton, Whitby, & Scarborough Bank, The, 283. 
 
[452] 
 
 Manchester, Eatcliff, 49. 
 
 Mangey, Arthur, executed for clipping, 123. 
 
 Manisty, Sir Henry, 270. 
 
 Manisty, Rev. James, Vicar of Edlingham, 270. 
 
 Manners, John, 419. 
 
 Margarets, John, 419. 
 
 Marine Society, The, 178. 
 
 Marley, John, 49. 
 
 Marr, James, 418. 
 
 Marreco, A. G. P., Prov. Com. Union Bank, 320. 
 
 Marris, Francis, dir. of Yorkshire Dis. Bank, 416. 
 
 Marshall, Ann, 419. 
 
 Marshall, R., N/c. Cham, of Com., 98, 201. 202. 
 
 Martin, Mr., and the charges against Mr. Walker, 
 
 of the Commercial Bank, 318. 
 Martin, Rev. Henry, 256. 
 
 Martindale, John, support of Durham Bank, 308. 
 Martineau Harriet, "Berkeley the Banker," 60, 
 
 271 ; her connection with Newcastle, 60 ; extract 
 
 from autobiography of, 271 : " Life in a Sick 
 
 Room," 271. 
 Martineau, Mr., Norwich, 271. 
 Martineau, Philip Meadows, 271. 
 Mason, Bailey, & Langhorn, Berwick Bank, 311. 
 Mason, Christopher (Richardson & Mowbray), 810, 
 
 353, 354, 355 ; retirement of, 311, 356, 357. 
 Mason, C, land steward for Earl of Tankerville, 
 
 311 ; copy of a letter from Thos. Bewick to, 312 ; 
 
 bankruptcy of Messrs. Mowbray & Co., 357. 
 Masterman & Co., London agents for Sanders, 365. 
 Masterman, Mr., Richmond, 136. 
 Masters & Co., bankers, London, 53 ; agents for 
 
 Davison-Bland & Co., 240, 246 ; conveyance of 
 
 specie, 241 ; practice of Christmas money, 245 ; 
 
 panic in N/c, 247, 248; agency for ^Davison- 
 Bland & Co., discontinued, 248. 
 Masters, Richard (Masters & Co., London), 240. 
 Masterton, G. M., actuary to the Newcastle 
 
 Savings' Bank, 372. 
 Mather, Joseph, Woods & Co., 407; death of, 407 ; 
 
 photograph of, 408. 
 Mathison, John, suspected of forging notes, 139; 
 
 description of, 139 ; reward offered for capture 
 
 of, 139. 
 Matterson, T., 419. 
 Matthews, George, 275. 
 Matthews, John, 275. 
 Matthews, General Richard, sale of Mr. Burdon's 
 
 interest, 394, 399. 
 Matthews, Thomas, 275. 
 Maude, F., North Riding election, 352. 
 Maude, Rev. Henry Roxby, LL.B., 161. 
 Maude, Jacob, Sellaby, 158; affairs of Cooke, 
 
 Robinson, & Co., 231, 275. 
 Maude, James, 161. 
 Maude, Thos., 29; Baker, Shafto, & Co., 155, 157, 
 
 161 ; married Miss Roxby, 161 ; death of, 161. 
 Maude, Thomas, M.A., Middle Temple, 161. 
 Maude, Thomas M., formation of Dar. Bank, 237. 
 Maude, Warren, Sunnyside, 161 ; Sunderland, 364. 
 Maude, Warren, formation of Darlington Bank, 
 
 237. 
 Maude, Wm., director North of England Joint 
 
 Stock Bank, 331, 332. 
 Maule, Baron, trial, 371. 
 Maw, George, formation of Darlington Bank, 237. 
 
 Maxon, Richard, Harrowfield, 141. 
 
 Maxwell, Peter Constable (Sir John Lawson& Co.), 
 
 296, 297; death of, 297. 
 Mayler, Rev. Oliver, J. P., coinage of base money, 
 
 123. 
 McAlium, D., 418. 
 McCreight, Wm. Chas., Chief Clerk Newcastle 
 
 Branch, Bank of England, 204 ; death of, 207. 
 McDonald, Donald, 308. 
 McLean, D., M.P., Purchase of Witton Castle 
 
 Estate, 227 ; made a bankrupt, 227. 
 McLellan, John, 419. 
 McPhersou, John, secretary of the Industrial 
 
 Bank, 295. 
 Meadley, G. W., 275. 
 
 Mease, Solomon, Prov. Com. Union Bank, 320. 
 Mercantile & Exchange Bk. of Liverpool, 303. 
 Merrybent Railway, The, 238. 
 Methold, Henry, 308. 
 
 Metropolitan and Provincial Bank, London, 299. 
 Mewburn, Henry, 49, 
 Mewburn, Mr., Darlington, 209 ; the Larchfield 
 
 Diary, 334. 
 Meynell, Godfrey, Yeldersley, co. Derby, 254. 
 Michael, Joseph Westbrook, Stamford, 160. 
 Middlebrook, Mr., riot at Sunderland, 73. 
 Midland Banking Co., proposed amalgamation 
 
 with London and Nor. Bank, N/c, 301. 
 Milbanke, Ralph, 308. 
 Middlesex Sessions, Jury protest against Bank of 
 
 England notes, &c., 81. 
 Middleton, Messrs., 175. 
 Middleton, Henry N., 239. 
 Middleton, Sir Wm., 53. 
 
 Miles, Wells, & Co., Whitby, 68, 306 ', dissolu- 
 tion of partnership, 306. 
 Miles, Jonathan (Miles, Wells, & Co.), 306, 307 ; 
 
 owner of the Smeaton estates, 306 ; died at 
 
 Ealing, 306 ; Sheriff of Lond. & Middlesex, 306. 
 Miller, John, M.D., formation of the Sunderland 
 
 Joint Stock Bank, 383, 384. 
 Miller, John H. (Dale & Co.), 233; died, 233. 
 Miller, Thomas (Woods & Co.), 406; retired, 407. 
 Millie, Joseph, appointed assistant clerk N/c. 
 
 Savings' Bank, 370 ; murder of, 370, 371 ; fund 
 
 raised for the children of, 372. 
 Mills, Robinson, Hopper, Pearson, & Chipchase, 
 
 Durham, 46, 52, 67, 64, 307, 309. 
 Mills, Hopper, & Co., Durham, statement of note 
 
 issue, deposits, &c, 57 ; panic, 307 ; copy 
 
 of a circular issued during panic, in support of, 
 
 308 ; dissolution of partnership, 69, 310, 354. 
 Mills, Henry (IMills, Robinson, Hopper, & Co.), 
 
 307, 310; dissolution of partnership. 310. 
 Milner, John, dir. of the Yorkshire Bkg. Co., 416. 
 Milner, Mr., failure of District Bank, 343. 
 Mint, increase of, 14. 
 
 Mint and clipped coins, specimens of, 125. 
 Mitcalfe, Mr., 225. 
 
 Mitcalfe, Thos., prov. com. Union Bank, 320. 
 Mitcalfe, William, Tynemouth Ho., 236. 
 Mitchell, Alexander, 419. 
 
 Mitchener, Mr., Hole-in-the-Wall, Fleet St., 83. 
 Mitcheson, Robert, 308. 
 
 Moffatt & Co., Lond. agents for Lawson & Co., 297. 
 Molineux, John, Sunderland Bridge Lottery, 391. 
 
[453] 
 
 Molyneux, William B., sub-agent N/c. Branch 
 Bk. of E., 213 ; transferred to Birmingham 
 Branch, 213. 
 
 Moncaster, James, 49, 272, 273 ; sheriff of N/c, 
 272. 
 
 Monck, Chas. M. L., Belsay Castle, 158. 
 
 Money received at banks, 25. 
 
 Monkhouse & Hopper, 29. 
 
 Monkhouse, Joshua, Barnard Castle, 149. 
 
 Monson, Lord, 353. 
 
 Montague Bank, 79 ; note of, 79. 
 
 Montrose Branch Bank of Scotland, 7. 
 
 Moor, Thomas, vendor of lottery tickets, 128. 
 
 Moorhouse, Hy., 49. 
 
 Moorson, William, banker, Scarboro', 299. 
 
 Mordey, Richard, 275. 
 
 More, Hannah, 419. 
 
 Morgan, Samuel E., dir. of the Nat. Prov. Bk.. 314. 
 
 Morocco Men, 126. 
 
 Morpeth, Lord, Com. of Secrecy, Bank of England 
 Charter, 108. 
 
 IMorrell, John, 228. 
 
 Morrell, W. W., general manager of the York City 
 and County Banking Co., 410. 
 
 Morrison, John, manager of the Newcastle Joint 
 Stock Banking Co., 319. 
 
 Morrison, M., 49 ; support of Durham Bank, 308. 
 
 Morrison, Mr., Com. of Secrecy, Bk. of Eng., 108. 
 
 Moses, John, Hull, 179. 
 
 Mosley & Airey, 49. 
 
 Mosley, Edward, 158, 29. 
 
 Mounsey, Edward Backhouse, 149 ; photo, of, 154. 
 
 Mounsey, Thomas, 275. 
 
 Mowbray & Co., Berwick-upon-Tweed, 310, 31L 
 
 Mowbray, Hollingsworth, & Co., 129, 310, 354, 
 356 ; forgery upon, 354, 355 ; issue of notes of, 
 for one guinea, 356 ; proclaimed bankrupt, 77, 
 134, 142. 232, 356, 357 ; opening of a London 
 house, 356 ; account of the robbery of notes of, 
 359 ; com. to present Mr. R. Burdon with his 
 estates, 400. 
 
 Mowbray, Arthur, support of Durham Bank, 308. 
 
 Mowbray, Arthur (Richardson & Mowbray), 353, 
 354, 355, 356, 358; receiver for Bishop Bar- 
 rington of rents and fines, 358 ; appointed 
 manager and receiver of the collieries of the late 
 Sir Henry Vane Tempest, 358 ; bankruptcy of 
 Surtees and Co., 390, 391. 
 
 Mowbray, John (Mowbray & Co.), 129, 310, 353, 
 354. 
 
 Mowbray, M. (Mowbray & Co.), 129. 
 
 Mowbray, M&j, 353. 
 
 Mowbray, William, Bishop Auckland, 136. 
 
 Moxon, R. W. G. & T., Hull, 219. 
 
 Mudd, John, 288. 
 
 Mulgrave, Lord, 63. 
 
 Murchison, Roderick J., formation of Darlington 
 Bank, 237. 
 
 Murdock & Co., Messrs., 9. 
 
 Murray, T. Lamie, Hon. Sec. National Provincial 
 Bank of England, 314. 
 
 Myers, James, 275. 
 
 Myers, Thomas, 275. 
 
 Nabob op Arcot, The, 262. 
 Nabob's Bank, The, 34, 241. 
 
 National Metropolitan Establishment for Banking 
 in the Country, prospectus of a, 3 13. 
 
 National Provincial Bank of England, Newcastle- 
 upon-Tyne, 103, 113, 213, 313, 314; first pro- 
 spectus of, 313 ; directors of, 314; establishment 
 of branches, 314 ; purchase of the business of 
 Messrs. Skinner, Atty, & Holt, 314, 380 ; pur- 
 chase of the Stockton & Durham County Bank, 
 314, 383 ; formation of the Newcastle-on Tyne 
 branch, 117, 119, 314 ; formation of a sub- 
 branch in Gateshead, 314 ; authorized note issue 
 of, 315; particulars of the position of, 315; 
 proposal to purchase North and South Shields 
 Branches of the Union Bank, 323. 
 
 Nattrass, Mr., riot at Sunderland, 73. 
 
 Neal's " Views of Gentlemen's Seats," 254. 
 
 Nelson, Henry (Dale & Co.), 233; died, 233. 
 
 Nelson, Ralph, Bishop Auckland, 398. 
 
 Nelson, Thomas (Dale & Co.), 233; retired, 233; 
 died, 233. 
 
 Nesfield, Wm., support of Durham Bank, 308. 
 
 New Bank, confidence in, 25. 
 
 New Bank, Whitby, 306. 
 
 New banks opened in the North, 87. 
 
 New Bank project, the account of, 281. 
 
 New copper coinage, 18. 
 
 New counterfeit coinage, circulation of, 39. 
 
 New silver coins, issue of, 75, 
 
 Newcastle, first bank established, 23. 
 
 Newcastle, panic in, 247 ; meetings held in support 
 of local banks, 247 ; opening of local banks, 248 ; 
 scarcity of gold, 245, 248 ; meetings held in 
 support of local banks, 248 ; panic in, 249 ; notes 
 of local banks guaranteed, 249. 
 
 Newcastle Bankers' Association, 35 ; records of 
 meetings, 356. 
 
 Newcastle banks, collective issue of four of, during 
 1793, 57 ; meetings held in support of, 64 ; 
 commencement of the one o'clock closing, 2 3. 
 
 Newcastle Branch Bank of England opened, 87. 
 
 Newcastle Chamber of Commerce, extracts from 
 records of, 98 ; petition to Parliament re small 
 notes, 99 ; extracts from minute book of, 201 ; 
 petition against formation of branch Bank of 
 England in Newcastle, 201, 202 ; special meeting 
 of, 202 ; reply from Bank of England, re petition, 
 203 ; petition to Parliament against the repeal 
 of the Act withdrawing all bank notes under £5 
 from circulation, 205. 
 
 Newcastle & Exchange Banks, agreement to take 
 notes of, 29. 
 
 Newcastle Commercial Joint Stock Banking Co., 
 208, 315, 316, 318, 336; prospectus of, 315; 
 appointment of directors, 316 ; fixing of capital 
 of, 317 ; issue of notes of, 317 ; appointment of 
 a new board of directors, 317 ; frauds upon 
 shareholders of, 317 ; suspension of payment, 
 317 ; issue of a circular to customers, 317 ; 
 winding up of the, 318 ; issue of a circular to 
 the shareholders of the, 318. 
 
 Newcastle Infirmary, The, 178. 
 
 Newcastle Joint Stock Banking Co., 103, 315, 
 319, 336; issue of prospectus of, 319 ; failureof, 
 113, 319 ; Lond. agents refuse the drafts of, 319. 
 
 Newcastle Mint, 16. 
 
 Newcastle Savings Bank, 206. 
 
[454] 
 
 Newcastle Town Hutch, 22. 
 
 Newcastle, Shields, and Sunderland Union Joint 
 Stock Bank, 102, 112, 118, 274, 320, 403, 
 406, 407 ; purchase of Chapman & Co.'s Bank, 
 224 : issue of notes of, 227 ; particulars of 
 formation of, 320 ; allotment of shares, 321 ; 
 first report of the directors of, 321 ; opening of 
 agencies, 321 ; amalgamation with Sir Wm. 
 Chaytor and Co., 224, 321 ; purchase of new 
 premises, 322 ; extract from 13th report of 
 directors, 322 ; extract from 14th report of 
 directors, 322 ; managers and directors of, 322 ; 
 suspension of payments, 113, 218, 323 ; special 
 meetings held, 323 ; formation of a committee, 
 323 ; its report, 324 ; proposal from Nat. Prov. 
 Bank to purchase No. and So. Shields Branches 
 of, 324 ; re-opening branches of, 324; re-opening 
 of Newcastle and Sunderland offices, 324 ; ap- 
 pointment of directors, &c., 324 ; petition by 
 John Teather for the dissolution of, 325 ; wind- 
 ing up of the, 325 ; formation of new company, 
 325 ; purchase by Messrs. Woods, Parker and Co., 
 326, 406. 
 
 Newport, Sir John, Com. of Secrecy Bank of 
 England Charter, 108. 
 
 Newree, John, 419. 
 
 Newton, Eliz., 419. 
 
 NichoUs, Edmund, appointed liquidator of the 
 Northern Counties' Bank, Newcastle, 328. 
 
 Nicholson, Jas., 419. 
 
 Nicholson, John, 275. 
 
 Nicholson, Lucas (Fenton & Co., Thirsk),265. 
 
 Nicholson, Eobert, 419. 
 
 Nicholson, Thomas, 275. 
 
 Nightingale, Richard, Yarm, 219. 
 
 Nightingale, Richard, TrafEord Hill Manor, 220. 
 
 Nisbitt, Wm., 29. 
 
 Noble, B., N.E. Banking Co., 236; circulars re 
 amalgamation with Dale, Young, & Co., 236; 
 managing director, N.E. Bank, 329, 330. 
 
 Nor'ris, Mr. Halifax, formation of the Yorkshire 
 District Bank, 416. 
 
 North Country Bankers, Meeting of, at York, to 
 oppose tax on receipts, &c., 33. 
 
 North Country Bankers, connected with London 
 firms, List of, 129. 
 
 North and South Shields Bank formed, 222. 
 
 North of England Joint Stock Banking Co., New- 
 castle-upon-Tyne, 102, 208, 330, 331, 332, 334 ; 
 prospectus of the, 330, 331 ; appointment of 
 directors, 331 ; opening of an account with 
 Bank of England, 332 ; opening of branches, 
 332 ; extensive robbery at Berwick branch of, 
 332 ; failure of, 113, 209, 323, 333, 334 ; winding 
 up of, 333, 334. 
 
 North-Eastern Banking Co., Ltd., Newcastle-upon- 
 Tyne, 117, 119, 218, 327, 328) issue of 
 prospectus of the, 328 ; appointment of directors 
 of the, 329 ; opening of Newcastle branch of the, 
 329 ; first report of the directors, 329 ; purchase 
 of the Alnwick & County Bank, 330 ; amalgama- 
 tion with Dale, Young, & Co., N/c, 235, 330. 
 
 " Northern or Tees & Weardale Railroad," 290. 
 
 Northern & Central Banking Co., Leeds, purchase 
 of, by Yorkshire Agricultural Bkg. Co., 412, 413. 
 
 Northern bankers, periodical meetings of, 97. 
 
 Northern banks, statement of note issue, deposits, 
 and capital of, 56. 
 
 Northern Counties' Bank, Newcastle-upon-Tyne, 
 117, 326, 327, 328 ; report of directors of, 327 ; 
 recommendation of dividends, 327 ; failure of, 
 328. 
 
 Northern Counties' Loan and Dis. Co., the, 327. 
 
 North Riding Bank, the, 277, 280, 350 ; opening of, 
 .350 ; panic of 1797, support of notes of, 351. 
 
 North Riding of York, election of registrar for 
 the, 352. 
 
 Northumberland, Duke of, sanction for agents to 
 accept notes of local banks, 65. 
 
 Northd. Bank, the, 129, 162, 163, 169, 312, 367. 
 
 Northd. & Durham District Banking Co., New- 
 castle-upon-Tyne, 103, 113, 182, 208, 233, 236, 303, 
 316, 335, 336, 339 ; prospectus of the, 335 ; 
 rush for shares, 335 ; purchased business of 
 Backhouse & Co., N/c, 336 ; appointment of 
 directors of the, 336 ; opening of branches, 337 ; 
 institution of a clearing house, 337 ; copy of 2nd 
 report of directors of, 337 ; amalgamation with 
 the " Old Bank," 337 ; formation of a guarantee 
 fund, 338 ; proposal to increase the capital of, 
 339; copy of balance sheet for year ending, Dec, 
 1856, 340 ; profit and loss account of, 340 ; Lon- 
 don agents refuse drafts of, 341 ; suspension of 
 payments of, 116, 211, 252, 281, 282, 284, 328, 
 
 341, 347 ; original notice posted up at So. Shields 
 Branch, 342 ; meetings of shareholders held, 
 
 342, 343 ; appointment of liquidators, 343 ; their 
 report, 344. 
 
 Notes, first forgery of, 27 ; increase of issue of, 31 ; 
 circulation of Yorkshire, 45 ; supersede gold, 58. 
 
 Oastler, Robt., Thirsk, 136. 
 
 O'Callaghan, Daniel, Heighington, 141. 
 
 Ogden, Bernard, Sunderland, 137, 275. 
 
 Ogden, W. B., suspension of the District Bank, 
 342 ; report of, 343. 
 
 Ogden, William M., 275. 
 
 Ogilvie, Jos., prov. com. Union Bank, 320 ; note 
 guarantee, 419. 
 
 Ogle, Chas., counterfeit coinage, 43 ; 49. 
 
 Ogle, Newton C. (Hodgkin & Co.), 284, 285. 
 
 Ogle, William, jun.. Causey Park, 158. 
 
 Old Bank, Newcastle, 24, 57, 174, 242, 247 ; state- 
 ment of note issue, &c, 56 ; account of forma- 
 tion of, 177 ; issue of notes, 177 ; panic of 1772, 
 
 178 ; Negotiation of overdrafts, 179 ; increase of 
 note circulation, 179 ; balance sheet for 1771, 
 
 179 ; names of customers of, 179 ; panic of 1793 
 and 1797, 181 ; issue of lottery tickets, 183 ; 
 exchange of light money, 184 ; forgery of notes 
 of, 67, 285, 186 ; loss of notes of, 187 ; scarcity 
 of gold in Newcastle, 248 ; amalgamation with 
 District Bank, 103, 337, 338, 407. 
 
 Oliver, Abraham, support of Durham Bank, 308. 
 Oliver, John, agent, Hexham, 321. 
 Omond, Wm. R., Prov. Com. Union Bank, 320. 
 One pound notes (Scotland), issue of, 6; first 
 
 issue of, 184. 
 Opening of subscription lists, origin of, 183. 
 Opposition to the tax on receipts, &c., 33. 
 
[455] 
 
 "Optional notes," origin of, 46; London shop- 
 keepers alarmed, 47 ; optional notes, 242, 265. 
 
 Orange, Wm., 419. 
 
 Ord & Ewbank, 275. 
 
 Ord, J., Newton Ketton, 78, 357. 
 
 Ord, John, sol., form, of York Union Bk., 410, 411. 
 
 Ord, John R., Haughton Hall, 140; bankruptcy 
 of Mowbray & Co., 357 ; " Book of Autographs," 
 174, 284. 
 
 Ord, Jos., 29. 
 
 Ord, Ralph, support of Durham Bank, 308. 
 
 Ord, Robert, Newton, 141 ; panic, 275. 
 
 Ord, Thomas, Newton, 140. 
 
 Ord, Thomas, jun., Coatham, 141. 
 
 Ord, Wm., Newcastle Joint Stock Bank, Sunder- 
 land branch, 322 ; stoppage of the Union Bank, 
 323, 325 ; winding up of the Union Bank, 325 ; 
 Woods, Parker, & Co., 406 ; retired, 407 ; photo- 
 graph of, 408 ; failure of Surtees & Co., 388. 
 
 Ord, Wm., jun. (Woods & Co.), 407 ; photo of, 408. 
 
 Oriental Banking Corporation, The, 213. 
 
 Ormston & Lamb, Close, 159, 29. 
 
 Ormston, Jon. (Baker, Shafto, & Co.), 155, 158. 
 
 Ormston, Mary, Newcastle, 136. 
 
 Ormston, Robert (Baker, Shafto, & Co.), 159 ; 
 death of, 159 ; death of Catherine, wife of, 159. 
 
 Ormston, Robert, Healey Hall, 159 ; death of, 159. 
 
 Ormston, R., N/c. Chamber of Commerce, 98, 201. 
 
 Ormston, R., jun., N/c. Cham, of Com., 98, 202. 
 
 Orr, David, 49. 
 
 Orton & Beckwith, 275. 
 
 Osborne, General, 63. 
 
 Osborne, R., landed estates of bankers liable for 
 their trade debts, 351. 
 
 Ostle, John, 419. 
 
 Other, Christopher (Hutton, Other, & Co.), 291, 
 292, 293 ; chairman of the Swaledale and Wens- 
 leydale Banking Co., 293 ; director of the Swale- 
 dale and Wensleydale Banking Co., 401, 402. 
 
 Other, Christopher, jun., manager of the Swaledale 
 and Wensleydale Bkg. Co., 402 ; died at Nice, 402. 
 
 Other, Thomas (Hutton, Other, & Co.), 291, 292 ; 
 captain in the " Loyal Dale Volunteers," 293. 
 
 Ouseburn Engine Works, The, and the Industrial 
 Bank, Limited, Newcastle, 295, 296. 
 
 Ovenden, Edwin, 326, 327. 
 
 Overend, Gurney, & Co., 349. 
 
 Overend, John, clerk with Messrs. Joseph Smith 
 & Co., London, 349. 
 
 Ovington & Co., 275. 
 
 Oyston & Dunn, Durham, 136, 138 ; acting as 
 note agents for Backhouse & Co., 263. 
 
 Oyston, John, Prov. Com. Union Bank, 320, 
 
 Oxley, W., 419. 
 
 Page, James, Elsdon, 141. 
 
 Paley, William, 273. 
 
 Palgrave's " Notes on Banking," 59. 
 
 Palmer, Eleanor, 275. 
 
 Palmer, J., 208. 
 
 Panic in London, 28, 48, 181. 
 
 Panic in Newcastle, 1772 ; guarantee fund, 29. 
 
 Panic in Newcastle, 1793 ; all the banks suspend 
 payment, 48, 386 ; guarantee fund started, 49 ; 
 loyalty of South Shields, 52; appointment 
 of conmiittee, 50 ; their report, 50 ; excitement 
 
 at Durham, meetings held, 52 ; confidence re- 
 stored and banks opened, 53 ; meeting at 
 Wooler in support of local banks, 53. 
 
 Panic of 1793 said to have originated in Newcastle, 
 54 ; proved not to have originated in Newcastle, 
 54 ; copy of a circular issued during, in support 
 of Durham Bank, 308. 
 
 Panic in N/c, 1797, banks suspend payment, 64. 
 
 Panic in Newcastle, 1803, issue of hand-bill, 69 ; 
 issue of a declaration, 69 ; run on N/c. banks, 
 69 ; northern b^,nks stop payment, 139 ; meet- 
 ings held in support of local banks, 139 ; forma- 
 tion of a guarantee fund, 69, 275 ; copy of 
 original signatures, 70, 71. 
 
 Panic in Newcastle, 1815, run on banks, 77 ; meet- 
 ing of landowners in Newcastle, 77 ; banks to be 
 supported, 77 ; merchants and tradesmen sup- 
 port banks, 77 ; Backhouse & Co., Darlington, 
 talked about, 78 ; confidence in Messrs Back- 
 house & Co., 78. 
 
 Panic in Newcastle, 1816, notes guaran ted, 78. 
 
 Panic of 1825, 91. 
 
 Panic of 1847, felt in Darlington, 149. 
 
 Panic in Newcastle, 1857, 210. 
 
 Panton H., formation of the Sunderland Joint 
 Stock Bank, 384. 
 
 Panton, Stormont, 412. 
 
 Paper money, issue of by tradesmen, 76. 
 
 Park, Richard, form, of Darlington Bank, 237. 
 
 Parke, Baron, trial of Bolam for the Savings' 
 Bank murder, 371. 
 
 Parker, Edward, 308. 
 
 Parker, G., 49. 
 
 Parker, Hill, 384. 
 
 Parker, Samuel, Newcastle, Union Bank, 322, 324; 
 winding up of the Union Bank, 324 ; Woods, 
 Parker, & Co., 406 ; photo of, 408. 
 
 Parker, S. W., N/c. Chamber of Com., 201, 202. 
 
 Parkinson, Jane, Darlington, 136. 
 
 Parnell, Sir H., Committee of Secrecy Bank of 
 England Charter, 108 ; formation of the National 
 Provincial Bank of England, 313. 
 
 Partis, Wm., Counterfeit coinage, 40. 
 
 Patrick, John, support of Durham Bank, 308. 
 
 Partridge, Hugh, 22 ; arrested for coining at New- 
 castle, 121 ; death of, 122. 
 
 Pass books, introduction of, 4. 
 
 Paterson, William, 3. 
 
 Patterson, W., 419. 
 
 Paulin, Wm., trustee of Blake, Reeds, & Co., 170. 
 
 Paxton, Joseph, authority to sign notes, 29. 
 
 Paxton, Peter, 49. 
 
 Peacock, Rev. William, support of N. R. Bank, 351. 
 
 Peareth, William, 29 ; affairs of Messrs. Cooke, 
 Robinson, & Co., 231 ; panic, 275. 
 
 Pears, William, director of the London and 
 Northern Joint Stock Bank, Ltd. , Newcastle, 300. 
 
 Pearson, Henry, promotion of the Yorkshire Agri- 
 cultural Bank, 412. 
 
 Pearson, Joseph, Burdon, 141. 
 
 Pearson, Mr. (Mills, Robinson, & Co.), 307, 309 ; 
 winding up of Surtees, Burdon, & Co., 390. 
 
 Pearson, Robert, 49. 
 
 Pearson, Thomas, 33. 49, 57. 
 
 Pearson, William, 419. 
 
 Peart, J., 419. 
 
[456] 
 
 Pease & Co., Whitby and Malton, 33, 46, 57, 219, 
 
 228, 345. 
 Pease & Harrison, Hull and Beverley, 136, 228, 345. 
 Pease & Richardson, 219, 228, 345. 
 Pease, Dunn, & Co., Malton, 199, 219, 345. 
 Pease, E., & Co., 380. 
 Pease, Edward & Joseph, 346. 
 Pease, Henry, & Co., 346. 
 Pease, Henry, & Co.'s, successors, 346. 
 Pease, J. & J. W., Darlington, 346, 347. 
 Pease, John & John Beaumont, 346. 
 Pease family, relationship of the members of the, 
 
 who have been partners in the bank, 348. 
 Pease, Alfred E. (J. & J. W. Pease), 346, 347 ; photo 
 
 of, 346. 
 Pease, Arthur (J. & J. W. Pease), 346, 347; photo 
 
 of, 346. 
 Pease, Charles (J. & J. W. Pease), 346, 347. 
 Pease, Edward, Stockton and Darlington Canal, 
 
 280 ; J. & J. W. Pease, 346, 347, 349 ; checks run 
 
 upon the Dar. branch of Messrs. Skinner, 380. 
 Pease, Edward, jun., Darlington, 136. 
 Pease, Gurney (J. & J. W. Pease), 346, 347. 
 Pease, Howard (Hodgkin, Barnett, Pease, and 
 
 Spence), 284, 286; photo of, 284. 
 Pease, John, Stockton and Darlington Canal, 230. 
 Pease, John, Whitby, 346. 
 Pease, John Beaumont, Darlington, 285. 
 Pease, Jos., Stockton and Darlington Canal, 230. 
 Pease, Joseph (J. & J. W. Pease), 346, 347 ; trea- 
 surer to Great North of England Railway, 346 
 
 banker to the Consett Iron Co., 347 ; death of 
 
 347 ; M.P. for Durham, 347. 
 Pease, Joseph A. (J. & J. W. Pease), 346, 347 
 
 photo of, 346. 
 Pease, J. R. (Bower, Dewsbury, & Co.), 199, 200 
 
 retired, 200 ; died, 200. 
 Pease, John William (Hodgkin, Barnett, & Co.), 
 
 284, 285, 286 ; photo of, 284. 
 Pease, Sir Joseph W., Bart., 346, 347; photo 
 
 of, 346. 
 Pease, Thos., Stockton and Darlington Canal, 230. 
 Pease's Pack, 60. 
 Peat, Robert, Newcastle, 194. 
 Pedigree showing the connection between the 
 
 early partners in Davison-Bland & Co., 255. 
 Peebles, Thos., arrested for coining at Berwick, 121. 
 Peel, P. W., sub-agent N/c. Branch Bk. of E., 213. 
 Peel, Hugh, convicted of passing a scale-de-cross 
 
 note, 44. 
 Peel, Sir R., Committee of Secrecy, Bank of Eng- 
 land Charter, 108 ; Banking Act, 325. 
 Peirse, Consett, Topham, & Walton, Northallerton, 
 
 founded, 46, 57, 60, 65, 280, 281, 289, 350 ; the 
 
 opening of, 350. 
 Peirse, Henry, M.P. for Northallerton, 352 ; 
 
 died, 353 ; purchase of the manor of Hutton- 
 
 Bonville, 281, 353. 
 Peirse, John, Bedale, 352. 
 Peirse, Miss Mary Ann, 281. 
 Peirse, Richard Wm., North Riding Bank, 350, 
 
 353 ; election of registrar of the North Riding 
 
 of York, 352 ; appointed deputy-registrar, 352 ; 
 
 registrar, 352. 
 Peirse, R. W. C, election of registrar of the 
 
 North Riding of York, 352 ; died, 352. 
 
 Peirse, Thomas, Stockton and Dar. Canal, 230. 
 
 Peirson, Messrs., bankers, Whitby, 273. 
 
 Peirson, George, Whitby, 360, 361 ; died, 361. 
 
 Peirson, James, Whitby, 360. 
 
 Peirson, John, Whitby, 361. 
 
 Peirson, Robert, London, 360. 
 
 Peirson, Thomas, Whitby, 360 ', died, 360. 
 
 Peirson, William, Whitby, 361. 
 
 Pellatt, Apsley, " crossing " of cheques, 116. 
 
 Pemberton, Richard, 275. 
 
 Pemberton, Stephen, 49, 50, 51, 275. 
 
 Penal code, revision of, 86. 
 
 Pennington, Lewis, .308. 
 
 Pennyman, J. S., dir.. No. E. Banking Co., 329. 
 
 Penson, Richard Kyrke, 299. 
 
 Pepys & Hollingsworth, 129. 
 
 Perkins, Fairman, & Heath, London, 279. 
 
 Philipson, Ralph P., director, Northumberland & 
 
 Durham District Bank, .336, 337. 
 Phillips, Sir G., Committee of Secrecy, Bank of 
 
 England Charter, 108 
 Pickering & Pish, 49. 
 
 Piper, H., appointed actuary to Savings' Bank, 372. 
 Pitt and the Bank of England, 1795-96, 68, 66, 96. 
 Place, Thomas (Hutchinson & Co.), 287, 288, 289 ; 
 
 bankruptcy of, 287 ; sale of the estate of, 288 ; 
 
 dispute regarding reported destruction of the 
 
 books of Hutchinson & Co., 288. 
 Plows, Nathaniel, cashier. Backhouse & Co., 359. 
 Plummer, B., 98. 
 
 Pluramer, M., N/c. Chamber of Com , 98, 202. 
 Plummer, R., N/c. Chamber of Commerce, 202. 
 Pole, Sir Peter, & Co., 197 ; suspend payment, 
 
 92, 197, 287, 294. 
 Pollard, Jos., 49. 
 
 Pontefract, octagonal shilling of, 17. 
 Portland, Duke of, 53. 
 Portugal gold, circulation of, 229. 
 Postage of Notes, official instructions, 44. 
 Potts, J., Newcastle Chamber of Commerce, 98; 
 
 269 ; formation of Savings' Bank, 366. 
 Potter, John, agent for Davison-Bland & Co., 248. 
 Potts, Ra., counterfeit coinage, 40. 
 Potts, Ra., jun., counterfeit coinage, 40. 
 Potts, Robert, counterfeit coinage, 40. 
 Potts, Thomas, counterfeit coinage, 40. 
 Potts, Wm. , treasurer of the N/c. Savings' Bank, 867. 
 Pow, Robert, Prov., Com. Union Bank, 320 ; 
 
 suspension of bank, 323, 325 ; winding up, 325 ; 
 
 Woods, Parker, & Co., 406 ; photograph of, 408. 
 Prescott, Grote, Culverden, and John Hollings- 
 worth, 129. 
 Prescott, Grote, & Co., London, 129, 210, 240, 248. 
 Prescott, George, Darlington, 361. 
 Price, Hilton, collection of bank notes, 77. 
 Price, Jos , N/c. Chamber of Commerce, 98, 202. 
 Price, Mr., " Handbook of London Bankers," 195, 
 
 361. 
 Price, Thomas, director of the York City and 
 
 County Banking Co., 409. 
 Priestman, C, Richmond Bank, 296. 
 Priestman, Hy., Scarborough, 136. 
 Priestman, Henry C. (Sir John Lawson & Co.), 
 
 296, 297. 
 Priestman, Jonathan, 281, 282, 843. 
 Priestman, J., jun., 343. 
 
[457 J 
 
 Priestman, William (Sir John Lawson & Co.), 296, 
 
 297 ; death of, 297. 
 Principal merchants, Newcastle, meeting of, 39. 
 Pringle, H., 419. 
 Pringle, Harrop, 419. 
 Pringle, Matt., sheriff, 49. 
 
 Pringle William, support of Durham Bank, 308. 
 Prior, William, assay master, 23. 
 Private estates of bankers liable for trade debts, 60. 
 Proctor & Spence, 419. 
 Proctor, Joseph, Yarm, 136. 
 Procter, Joseph, No. Shields, 224. 
 Promissory notes, tax on, 34 ; in circulation in 
 
 Nor. and Durham, 1841-1847, return of, 112. 
 Proposal for a Joint Stock Bank in Newcastle, 
 
 to be called the Lambton Banking Co., 250. 
 Prosecution of coiners, reward offered for, 37. 
 Prosperity of the year 1824, 91. 
 Proud, Nicholas, support of Durham Bank, 308. 
 Public confidence further strengthened, 29. 
 Public holidays 1811-1816, list of, 72. 
 Pugh, Mr., chief clerk to the V. -Chancellor, 344. 
 Pulleine, Henry, election registrar, 352. 
 Pulman, R., 289. 
 
 Purcell, J. G., controller of stamps, 76. 
 Purvis, Mary, 418. 
 Pybus, James (Davison-Bland & Co.), 239, 240, 
 
 248 ; retired, 239. 
 Pybus, Mr., winding-up Surtees, Burden, & Co., 
 
 390. 
 Pye, Mrs. Elizabeth, lottery tickets, 242. 
 Pye, Lieut. W. B., lottery tickets, 242. 
 
 Radford, James, Prov. Com. Union Bank, 320. 
 
 Radfield, George, 275. 
 
 " Rag " money, 92. 
 
 Raikes & Co., Malton, 129, 361- 
 
 Raikes & Curries, Malton, 361. 
 
 Ramsay, Colonel, 419. 
 
 Ramsay, Thos., 419. 
 
 Ramshaw, Mr., agent Durhsun branch, 322, 323. 
 
 Ramshaw, N., 419. 
 
 Rand, William, director of the Yorkshire District 
 Bank, 416. 
 
 Rankin, Horn, & Walton, 275. 
 
 Rankin, Robert, " Commercial Bank," 60, 64 ; 
 failure of Surtees, Burdon, & Co., 388. 
 
 Rankin, Robert (Forster, Burrell, & Co.), 266, 267, 
 271 ; died, 272. 
 
 Rankin, Robt., & Son, merchants, Newcastle, 272. 
 
 Ranson, Lambert, & Co., 83. 
 
 Ranson, Thomas, autograph of, 85. 
 
 Ranson, Thomas F., forgery of bank notes, 83. 
 
 Raper, Swann, & Co., Thirsk, 219, 361 ; Discon- 
 tinuation of, 361. 
 
 Raper, Swann, Clough, Swann, Bland, & Raper, 
 362 ; suspended payment, 362 ; transferred to 
 Messrs. Beckett & Co., Beverley, 382. 
 
 Ravensworth, Lord, exchange of light gold with 
 his tenants, 31 ; -depositor at Old Bank, 178. 
 
 Rawlin, John, Burdon, 141. 
 
 Rayne, Robert, 49. 
 
 Reay, H. Utrick, 49, 50, 51 ; support of Durham 
 Bank, 308, 309. 
 
 Reay, John Y., 419. 
 
 Reay, Joseph, 29. 
 
 Reay, Robert, 275 ; formation of the Newcastle 
 
 Savings' Bank, 366, 369. 
 Reay, Thomas, 419. 
 
 Redhead, W., N/c. Chamber of Com., 98, 201, 202. 
 Redpath, Dorothy, 418. 
 Reed, Batson, & Co., 77 ; confidence in, 164 ; 
 
 notes of, 164. 
 Reed & Co., acceptance of notes of, 181. 
 Reed, Batson, & Co., became bankrupt, 249, 353| 
 
 367, 164, 311 ; dissolved, 164. 
 Reed, Archibald, Northumberland Bank, 163, 164, 
 
 171 ; attacked by a mob, 165 ; abandonment of 
 
 Bill against Queen Caroline, 165 ; Sheriff of 
 
 Newcastle, 172; Alderman of Newcastle, 172 ; 
 
 Mayor of Newcastle, 172 ; visit of Duke of 
 
 Wellington to Newcastle, 172 ; salary of Mayor, 
 
 172 ; presentation by burgesses, 172 ; death, 173. 
 Reed, A., formation of Savings' Bank, 366. 
 Reed, Christopher, Chipchase, 171 ; married Miss 
 
 Blake, 171. 
 Reed, Hannah, 419. 
 Reed, John, 171 ; purchased Chipchase Castle. 
 
 171 ; High Sheriff of Northumberland, 171 ; 
 
 married Miss Aynsley, 171 ; death of, 171. 
 Reed, John (Colonel), Northumberland Bank, 163, 
 
 164, 172 ; died, 172. 
 Reed, Matthew, 29. 
 Reed, Ralph, Sheriff of Newcastle, 171 ; Mayor, 
 
 171 ; death of, 171. 
 Reed, Robert, 419. 
 Reed, Thomas, 137, 275. 
 
 Reed, Wm., Northumberland Bank, 163, 164, 173. 
 Reeve, John, Stockton, 186. 
 Reid, Susannah, 419. 
 Remington & Co., London, 129. 
 Remington, James G., dir. Nat. Prov. Bank, 314. 
 Renner, John, 275. 
 Rennison & Spencer, 419. 
 
 Rennison, John, prov. com. Union Bank, 320, 325. 
 Richardby, Thos., support of Durham Bank, 308. 
 Richards, Chief Baron, on Bank of England 
 
 forgeries, 81. 
 Richardson &Co., Malton and Whitby, 228, 345. 
 Richardson & Holt, Whitby, 353. 382. 
 Richardson, Holt, & Co., absorbed by York City 
 
 & County Bank, 228, 284 ; account of closing of, 
 
 229. 
 Richardson & Mowbray, Darlington, 33, 57, 60, 
 
 353| 354, 372 ; suspen. of cash payments, 354. 
 Richardson & Richardson, London, 409. 
 Richardson, Thos. & Richard, 353. 
 Richardson, Christopher, 228, died, 229. 
 Richardson, George, Newcastle, 171 ; formation of 
 
 the Newcastle Savings' Bank, 366. 
 Richardson, Henry, Ayton, 136, 138. 
 Richardson, James, 419. 
 
 Richardson, Jonathan (Backhouse & Co.), New- 
 castle, 145, 147 ; Newcastle District Bank, 210 ; 
 
 general manager District Bank, Newcastle, 336 ; 
 
 guarantee of Consett Works, 343 ; withdrawal 
 
 from directorate of District Bank, 343 ; failure 
 
 of the District Bank, 343. 
 Richardson, Richard, Mowbray, Hollingsworth, 
 
 & Co., 129 ; Stockton & Darlington Canal, 230 ; 
 
 (Richardson & Mowbray), 353, 354, 308. 
 Richardson, R., jun. (Richardson & Mowbray), 353. 
 
 pa 
 
[ 458 ] 
 
 Eichardson, Sarah, 419. 
 
 Richardson, S. T., Darlington, 142. 
 
 Richardson, Samuel T., how Jon. Backhouse 
 balanced the cash, 148. 
 
 Richardson, T., Aycliffe Hill House, 141. 
 
 Richardson, Thomas, 304 ; account of the career 
 of, 347. 
 
 Richardson, William, 49. 
 
 Richardson, W., 419. 
 
 Richmond and Swaledale Bank, the, 291, 296, 297 ; 
 guinea note of, 292. 
 
 Richmond, William, Sadberge, 141. 
 
 Rickford, Mr., M.P., charter of Bank of England, 
 109. 
 
 Riddell, George, failure of Surtees, Burdon, & Co., 
 388 ; Sunderland Bridge Lottery, 391. 
 
 Riddell, Thomas, 29. 
 
 Riddell, Sir T., 53. 
 
 Ridley and Naggs, 276. 
 
 Ridley, Bell, & Co., Sir M. W., 181. 
 
 Ridley, Bigge, & Co., amalgamation with District 
 Bank, 337, 338. 
 
 Ridley, Cookson, & Co., 49, 57, 65, 181. 
 
 Ridley, Widdrington, & Co., 64. 
 
 Ridley, George, M.P., 342. 
 
 Ridley, John, jun., 275. 
 
 Ridley, Mr., appointed assistant clerk Newcastle 
 Savings' Bank, 370. 
 
 Ridley, Matthew, 29 ; Heaton Hall, 272. 
 
 Ridley, Sir M. W. & Co., Newcastle-upon-Tyne, 
 24, 103, 116, 205, 242, 287, 322, 362, 407; 
 panic, 69, 77 ; satisfaction of stability of, 78 ; 
 " District Bank," failure of, 116; acceptance of 
 notes of, 164, 173 ; panic in Newcastle, con- 
 fidence in, 247 ; suspension of payment, 247 ; 
 re-opening of, 248 ; scarcity of gold, 248 ; meet- 
 ings in support of local banks, 249. 
 
 Ridley, M. W., formation of the Newcastle Savings' 
 Bank, 366. 
 
 Ridley, Sir M. W., M.P., circulation of Scottish 
 notes in England, 101 ; Com. of Secrecy, Bank 
 of England Charter, 108 ; (1) Old Bank, 174, 180, 
 181 ; (1) 181, 192 ; M.P. for Morpeth, 192 ; thrice 
 Mayor of Newcastle, 192 ; M.P. for Newcastle 
 in 8 Parliaments, 192 , died, 193 ; (2) Old Bank, 
 174; (2) 182, 193; M.P. for Newcastle, 193; 
 married, 193 ; died, 193 ; (3) Old Bank, 174, 182, 
 193 ; died, 193 ; 338 ; trustee of the Sunderland 
 Bridge Lottery, 392 ; 393. 
 
 Ridley, Nich., 53. 
 
 Ridley, Ralph, run upon Backhouse & Co., 
 Durham, 146. 
 
 Ridley, Richard, Heaton Hall, 188. 
 
 Ridsdale, J. H., formation of the Yorkshire Dis- 
 trict Bank, 416. 
 
 Riot in Sunderland, 73. 
 
 Rippon, Cuthbert, run upon Backhouse & Co., 146. 
 
 Rippon, Cuthbert, support of Durham Bank, 308. 
 
 Robarts, Curtis, & Co., London, 219. 
 
 Roberts, Mr., Com. of Secrecy, Charter, 108. 
 
 Roberts, R., manager of the Swaledale & Wensley- 
 dale Bank, Richmond, 402. 
 
 Roberts, Samuel, coinage of base money, 80. 
 
 Robertson, John, issue of coins, 19, 73. 
 
 Robertson, W., 419. 
 
 Robinson, " Life of Bewick," 68. 
 
 Robinson, — 230. 
 
 Robinson, George, 275 ; support of Durham Bank, 
 
 308 ; director of the Alliance Bank, 299. 
 Robinson, G. R., dir. of the Nat. Prov. Bank, 314. 
 Robinson, John, panic in Newcastle, 49 ; Sir John 
 
 Lawson & Co., 296, 297; Prov. Com. Union 
 
 Bank, 320. 
 Robinson, Marshall, 289. 
 Robinson, Mr. (Mills, Robinson, & Co.), 307. 
 Robinson, Robert, director, Northumberland & 
 
 Durham District Bank, 336. 
 Robinson, Thomas, 49. 
 
 Robinson, William, support of Durham Bank, 308. 
 Robson, Haigh, Coatham House, 141. 
 Robson, H. J., manager. Northern Counties Bank, 
 
 Newcastle, 328. 
 Robson, John (Hutton, Other, & Co.), 291, 292, 
 
 293, 419 ; manager of the Leyburn Bank, 293, 
 
 294 ; death of, 294. 
 Robson, Mr., Wideopen, 262. 
 Robson, Ralph P., 275. 
 Robson, Thomas, 275. 
 Robson, William, Great Burdon, 141, 419. 
 Robson, William Birkbeck, 294. 
 Rochester, Robert, 418. 
 Roddam, John, 49. 
 Roper & Priestman, Richmond, 58, 120, 296, 
 
 362 ' note issue allowed by Act, 112. 
 Roper, George (Sir John Lawson & Co.). 296, 297. 
 Roper, R. S. D. Rowe (Sir John Lawson & Co.), 
 
 296, 297 ; died, 297. 
 Rose, Hugh, appointed sec. No. E. Bank, 329, 330. 
 Ross, Colin George, Bank of England, appointed 
 
 to the Newcastle agency, 213. 
 Ross, Horatio, dir., Nat. Prov. Bank, 213, 314. 
 Ross, James, winding up of the North of England 
 
 Joint Stock Bank, 333, 334. 
 Row, George & Leo, Reeth, 136, 138. 
 Row, James, panic in Newcastle, 49. 
 Row, William, panic in Newcastle, 49. 
 Rowell, Thomas, Hartlepool, 321, 322. 
 Rowlandson, Samuel, director Swaledale and 
 
 Wensleydale Banking Co., 402. 
 Roxby, Henry, Surrey, 161. 
 Royal Bank of Scotland, origin of, 7. 
 Royal British Bank, suspension of, 326. 
 Rudman & Hall, panic in Newcastle, 49. 
 Rudman, James, 49, 50, 51. 
 Russell, Allan, & Maling, Sunderland, 46, 57, 136, 
 
 254, 273, 362, 363; panic, 52; support of 
 
 notes of, 362. 
 Russell, Alex., Prov. Com., 320, 418. 
 Russell, John, counterfeit coinage, 43. 
 Russell, Lord J., Com. of Secrecy, Charter, 108. 
 Russell, Matthew, Rowenlands, 363. 
 Russell, William, Brancepeth, 254. 
 Russell, William, Sunderland Bank, 273, 362, 363, 
 
 364 ; proprietor of Wallsend Colliery, 363 ; 
 
 purchase of Brancepeth Castle, 363 ; obituary 
 
 notice of death of, 363 ; married daughter of 
 
 Robert Harrison of Sunderland, 363 ; failure of 
 
 Surtees, Burdon, & Co., 388 ; formation of a 
 
 Committee to present Mr. Burdon with his 
 
 estates, 400. 
 " Russell's Wallsends," 363. 
 Rutherford, Esther, 419. 
 
[459] 
 
 Rutherford, John H., pro. dir. Industrial Bk., 295. 
 Rutherford, J. H., formation of No. Co. Bank, 326. 
 Rutherford, Stodart, 29. 
 Rymer, Christopher, run upon Backhouse & Co., 
 
 Durham, 146. 
 Ryton-on-Tyne, first Savings' Bank started at, 366. 
 
 Sadleir, James, M.P., director of the Newcastle 
 Commercial Bank, 317. 
 
 Sadleir, John, gigantic frauds upon the share- 
 holders of the N/c. Commercial Bank, 317, 318. 
 
 Saint, Joseph, Old Bank, 174, 178, 190 ; autograph 
 of, 190 ; treasurer of the Infirmary, 190, 398 : 
 elected a Com.-Councilman, 190 ; death of, 191. 
 
 Salkeld, Jane, 419. 
 
 Salkeld, Mary, 419. 
 
 Salmond, Col., Waterfoot, 198. 
 
 Salter, Thos. (Backhouse & Co.), 142. 
 
 Salter Thomas (Backhouse & Co.), Durham, 143, 
 144, 145. 
 
 Salter. Thos., jun. (Backhouse & Co.), 142. 
 
 Sampson Geo., original designer of the B. of E. 4. 
 
 Samuel, John, executed for coining, 122. 
 
 Sanders & Sons, Whitby, founded, 219, 365. 
 
 Sanders, Jonathan (Sanders & Sons), 365 ; death 
 of, 365. 
 
 Sanders, Jonathan, jun. (Sanders & Sons), 365 ; 
 died, 365. 
 
 Sanders, Joseph (Sanders & Sons), 365. 
 
 Sanderson, Sir James, 161. 
 
 Sanderson, John, Commer. Bank, Stokesley, 878. 
 
 Sanderson, John Thomas, 289. 
 
 Sanderson, Rachael, 419. 
 
 Sanderson, Thos. 275. 
 
 Santag, Madame, 294. 
 
 Savings' Bank, The, Newcastle, 80, 316, 366 ; 
 government arranged rules for management of, 
 80 ; opening of a subscription list, 367, 368 ; 
 selection of a site for new buildings, 369 ; open- 
 ing of the new bank, Arcade, 369 ; discovery of 
 fire at the, 370 ; murder of the assistant clerk 
 of the, 370 ; trial of Bolam for wilful murder, 
 371 ; transferred to present premises, 372 ; 
 appointment of a new clerk, 372. 
 
 Sawyer, Geo. Edw., dir. of the N/o. Com. Bank, 316. 
 
 Scaife, Matthew, 29. 
 
 " Scale-de-Cross Bank," 43. 
 
 Scales, William, support of Durham Bank, 308. 
 
 Scaling, Thomas, 275. 
 
 Scarborough Siege Money, 17. 
 
 Scarborough, Earl of, support of N/c. banks, 53. 
 
 Scarcity of silver, 30. 
 
 Scawin, Wm., director of the York Union Bk., 411. 
 
 Scotch bankers, practice resorted to by, 26. 
 
 Scotch system of early "clearing," 118. 
 
 Scotchburn & Shephered, solicitors, Driffield, 411. 
 
 Scotland, Bank of, 6. 
 
 Scotland, Royal Bank of, 7, 56, 211. 
 
 Scotland, Act passed 1797 allowing issue of notes 
 under £1, 67 ; attempts to suppress small notes, 
 100. 
 
 Scott & Co., Thirsk, 57. 
 
 Scott, — (Fen ton, Scott, & Co., Thirsk), 265. 
 
 Scott, Ann, 419. 
 
 Scott, Anthony, 275. 
 
 Scott, Henry, 271. 
 
 Scott, Rev. James, rector of Itchen Ferry, 193. 
 Scott, Sir John, 271 ; elopement with Miss Bessie 
 
 Surtees, 397 ; created Lord Eldon, 397, 418. 
 Scott, John, director, North of England Banking 
 
 Co., 331. 
 Scott, Mr., King's Head Inn, Darlington, 237. 
 Scott, Robert, Northumberland Bank, 163. 
 Scott, Sir Walter, " Malachi Malagrowther," 101. 
 Scott, Sir William, 53. 
 Scottish Border Bank, the, 303. 
 Scholefield, Joshua, dir., Nat. Prov. Bank, 314. 
 Scruton, R., support of Durham Bank, 308. 
 Scurfield, William, 29. 
 Seamour, Richard, 191. 
 Seizure of half-pennies, 42. 
 Sellars, H. B., general manager, Yorkshire Penny 
 
 Bank, 418. 
 Seton, Katherine, Northallerton, 136. 
 Seymour, William, School, AyclifEe, 141. 
 Shadbolt, Edw., coinage of base money at N/c, 121. 
 Shadforth, Batson, & Co., Berwick, 163 ; dissolve 
 
 partnership, 71, 164. 
 Shadforth, Henry, jun., 49. 
 
 Shadforth, Thomas, 163 ; dissolution of partner- 
 ship, 71. 
 Shaftoe, Coulter, & Co., 29. 
 Sbafto, Robert, exchange of light gold with his 
 
 tenants, 31. 
 Shafto, R. D., Whitworth, 257. 
 Shafto, Thomas (Baker, Shafto, & Co.), 155. 
 Shanks, W., sale of estates of Messrs. Blake, Reeds, 
 
 and Co., 169. 
 Sharp, Granville, Gilbart prize essay, 106. 
 Sharp, John, 419. 
 Sharp, Sir Cuthbert, 189. 
 Shephard and Brown, Knaresborough, 136. 
 Shepherd, Mr., formation of Yorkshire Dis.Bk., 416. 
 Shepherd, William, Blyth, 321. 
 Sheratin, Robert, Beamont Hill, 141. 
 Sheraton, Wm., formation of Darlington Bk., 238. 
 Shevill, William, 275. 
 Shewell & Son, London, 136. 
 Shield, John, counterfeit coinage, 43. 
 Shield, John, 419. 
 
 Shield, Joseph, N/c. Chamber of Commerce, 98. 
 Shields and Sunderland Bank, The, 230. 
 " Shields's Bank," Durham, 356. 
 Shields, Sunderland, &c., riot among sailors 
 
 against the press gang, 246. 
 Shields, Mr., support of Durham Bank, 308, 309. 
 Shields, William, Durham, 46, 57 ; support of 
 
 Durham Bank, 308, 353, 354, 355, 356, 372. 
 Ship Bank, The (Glasgow), 9. 
 
 Shuttleworth, Rd., support of Durham Bank, 308. 
 Sikes, Snaith, & Snaith, London, 305. 
 Sillick, James (Hawks & Co.), 281, 282. 
 Silver Sceatta, The, 11. 
 
 Silver tokens, coinage of (Bank of England), 19. 
 Silversmith, The, 24. 
 Silver, scarcity of, 73. 
 Silvertop, George, Minister Acres, 158. 
 Simmond, Mr., Humshaugh, 62. 
 Simpson, Chapman, & Co., Whitby, 33, 67, 120, 
 
 219, 225, 228, 373, 376 ; purchased by York 
 
 Union Bk., 120, 376, 411 ; note issue of, 112, 376 ; 
 
 photos of partners, 375, 
 
[460] 
 
 Simpson, Sanderson, Taylorson, Grainger, & Co., 
 Stokesley, 46, 378 ; failed, 69, 378. 
 
 Simpson, Andrew, 275. 
 
 Simpson, Charles, 275. 
 
 Simpson, Henry (Simpson, Chapman, & Co.), 373, 
 375 ; died 376 ; photo of, 375. 
 
 Simpson, Henry (Simpson, Chapman, & Co.), 373, 
 375, 376 ; death of, 877 ; photo of, 375. 
 
 Simpson, Henry, jun. (Simpson, Chapman, & Co.), 
 373, 375, 376 ; death of, 376 ; photo of, 375, 
 
 Simpson, John, panic in Newcastle, 29. 
 
 Simpson, The Rt.-Hon. John, director of the 
 Northumberland District Banking Co., 336. 
 
 Simpson, Thomas (Hutton, Other, & Co.), 291, 292. 
 
 Simpson, Thos, (Simpson, Chapman, & Co.), 373, 
 375, 376 ; photo of, 375. 
 
 Simpson, Thos., Commer. Bank, Stokesley, 378. 
 
 Simpson, Thomas W. (Simpson, Chapman, & Co.), 
 373, 375, 376 ; photo of, 375. 
 
 Simpson, Wakefield (Simpson, Chapman, & Co.), 
 373, 375, 377 ; died, 374 ; photo of, 375. 
 
 Sims, Mary, Tottenham, 136. 
 
 Singleton, Francis, counterfeit coinage, 40. 
 
 Skelton, Jonathan, 29. 
 
 Skinner, Atty, & Holt, Stockton, 77, 93, 103, 145, 
 379 ; suspension of payments, 379 ; support 
 of notes of, 380 ; run upon Darlington branch 
 checked by Mr, E. Pease, 380 ; transferred to 
 Nat. Prov, Bank of England, 314, 380, 383, 
 
 Skinner, John & Co., purchase of the Ferndale 
 Fields, Whitby, 380. 
 
 Skinner, John Holt, Commercial Bank, Stockton, 
 379 ; autograph of, 381. 
 
 Skinner, Mrs., letter from, with reference to the 
 timely arrival of gold, 381, 
 
 Skinner, William, Commercial Bank, Stockton, 
 379, 381 ; Mayor of Stockton, 381 ; elected a 
 Councillor, 382 ; elected an Alderman, 382 ; 
 elected Mayor of Stockton, 382. 
 
 Skinner, Wm., jun.. Commercial Bank, Stockton, 
 379, 380 ; elected Mayor of Stockton, 381, 382. 
 
 Skinner Street, Whitby, commencement of build- 
 ing of, 380. 
 
 Slack, T., light gold for lottery tickets, 32 ; vendor 
 of lottery tickets, 128. 
 
 Slavery, fund raised for the abolition of, 287. 
 
 Sleigh, William, Stockton, 256. 
 
 Sloane, Sir John, 4. 
 
 Smails, Robert, 418. 
 
 Smales, Francis, support of Durham Bank, 308. 
 
 Smallwood, Edward, general manager, York City 
 & County Banking Co., 410. 
 
 Smith & Co., Nottingham, 175. 
 
 Smith, Elstob, & Co., Stockton, 57, 68, 219, 264 ; 
 copy of the signature of, 264. 
 
 Smith, Joseph, & Co., London, 349. 
 
 Smith, Payne, and Smith, London, 175 ; circula- 
 tion of rumours regarding stability of, 386, 395. 
 
 Smith, Wright, and Gray, London, 54, 134, 136, 
 137, 138, 349. 
 
 Smith (Fenton, Scott, & Co., Thirsk), 265. 
 
 Smith, Anthony, support of Durham Bank, 308. 
 
 Smith, Christopher (Lumley, Smith, & Co.), 304 ; 
 Mayor of Stockton, 305 ; amusing incident re- 
 garding re-election as Mayor of, 305. 
 
 Smith, F. C„ Nottingham, 175, 
 
 Smith, George, offers to take notes of Blake, 
 
 Reed, & Co., 166 ; speculation in assets of 
 
 Northumberland Bank, 169. 
 Smith, James (Bower, Dewsbury, & Co.), 199, 200. 
 Smith, Rev. J., Andover, Savings' Bank of the, 366. 
 Smith, John, Com. of Sec, Bk. of Eng. Charter, 108. 
 Smith, John, Thirsk, 136, 138. 
 Smith, John, Ketton, 141 ; support of Durham 
 
 Bank, 308. 
 Smith, Thomas, York, 275, 416. 
 Smith, Vernon, Com. of Secrecy, Bank of England 
 
 Charter, 108. 
 Smith, William, Haughton Castle, 61, 62. 
 Smith, William, surgeon, 187. 
 Smithson & Fairbank, North Riding election, 352. 
 Smithson, R., North Riding election, 352. 
 Smoult, William (Davison-Bland & Co.), 129, 239, 
 
 240, 241, 242, 260 ; retired, 239, 246 ; one of the 
 
 founders of the Asiatic Society, 260 ; died, 260 ; 
 
 tablet to the memory of, 260. 
 Smurthwaite, T., manager of the Swaledale and 
 
 Wensleydale Bank, Richmond, 402. 
 Snowball, Anthony, 275. 
 Snowball, Joseph, 49. 
 Snowden & Wardell, 419. 
 
 Snowdon, Geo. (Lumley, Smith, & Co.), 304, 305. 
 Soane Museum, The, 77. 
 Society of Arts, report of, upon forgery of bank 
 
 notes, 82. 
 Sorsbie, B., form, of N/c. Savings' Bank, 366, 369. 
 Sorsbie, Jonathan, junr., 29. 
 Sorsbie, Malin, counterfeit coinage, 40 ; panic in 
 
 Newcastle, 50, 51. 
 Southwick Crown Glass Co., The, 275. 
 Sowerby, Thomas, Bishopton, 141. 
 Spanish dollars, issue of, 18, 74. 
 Spearman, Chas., support of Durham Bk., 308, 309. 
 Specie payments, suspension of, 18. 
 Spedding, John, jun., Old Bank, 174 182, 194; 
 
 member of the Reformed Town Council, 194 ; 
 
 one of the first aldermen appointed under the 
 
 Municipal Act, 194. 
 Spedding, Mr., Ridley, Bigge, & Co., 338. 
 Spence & Foster, 419. 
 
 Spence, C. J. (Hodgkin, Barnett, & Co.), 284, 386. 
 Spence, John Foster, 224. 
 Spence, Jonathan, 419. 
 Spence, Joseph, 224. 
 Spence, Robert (Chapman & Co.), 221, 222, 224 ; 
 
 extract from diary of, 223 ; first treasurer borough 
 
 of Tynemouth, 224 ; manager North Shields 
 
 Branch of Union Bank, 322 ; death of, 225, 322 ; 
 
 photo of, 222. 
 Spence, Robert (Hodgkin & Co.), 225 ; succeeded his 
 
 father as manager of the Union Bank, North 
 
 Shields, 322, 323, 324 ; resignation of, 326 ; 
 
 formation of Hodgkin & Co., 117, 284, 285, 286 ; 
 
 death of, 286 ; extract of an obituary notice of, 
 
 from Bankers Magazine, 286 ; photo of, 286. 
 Spencer, Henry, 173. 
 
 Spencer, Isaac, dir. of the Yorkshire Dis. Bank, 416. 
 Spencer, James, Old Bank, 187. 
 Spencer, Michael, prov. com. Union Bank, 300. 
 Spicer, Wm., manager Newcastle Branch, York 
 
 City and Co. Banking Co., 410. 
 Spoor, Michael, 419. 
 
[46i] 
 
 Squance, Thomas C, manager of the Sunderland 
 Bank, 384. 
 
 Stafford, J., trustees of the late, 275. 
 
 Stamp Act, 1815, alteration of, 72. 
 
 Stamp, Edward, Alnwick, agent for Davison- 
 Bland & Co., Newcastle, 243. 
 
 Stamp, John, 275. 
 
 Stamper, John, Ayclifie, 141. 
 
 Stamper, John, Brafferton, 141. 
 
 Stamper, Kichard, form. Darlington Bank, 238. 
 
 Standard Bank of South Africa, The, 213. 
 
 Stanley, Mr., Com. of Secrecy B. of E. Charter, 109. 
 
 Stapleton & Co., Richmond, 297. 
 
 Stapleton, Gilbert (Sir John Lawson, & Co.), 296, 
 2-j7 ; retired, 297. 
 
 Stapleton, Miles (Lawson, Sir John, &Co.), 296. 
 
 Stapleton, Thos. (Sir John Lawson & Co.), 296, 297. 
 
 Starforth, Gilbert, Mayor of Durham, 308, 309. 
 
 Starforth, John, Mayor of Durham, 64 ; support 
 of Durham Bank, 308, 310. 
 
 Starkey, Captain, 88. 
 
 Starks, Charles, 419. 
 
 State lottery, 1826, illustration of, 128 ; abolished, 
 128. 
 
 Steavenson, John (Davison-Bland, & Co.), 239, 
 262; retired, 239; fought a duel with Wm. A. 
 Suitees, 262. 
 
 Stenhouse, M., & Co., 304. 
 
 Stephenson & Remington, 129. 
 
 Stephenson, David, 49. 
 
 Stephenson, George, 275. 
 
 Stephenson, John, Newcastle and Knaresdale, 395. 
 
 Stephenson, Samuel, 275. 
 
 Stevenson, George, 29. 
 
 Stevenson, Mr., sale of estates of Messrs. Blake, 
 Reeds, & Co., 169. 
 
 Stewart, Chas. Wm., Marquis of Londonderry, 358. 
 
 Stewart, E., director of Nat. Prov. Bank, 314. 
 
 Stewart, Matthew, 419. 
 
 Stobart, W., support of Durham Bank, 308. 
 
 Stocks, effect of suspension of cash payments upon, 
 67. 
 
 Stockton and Cleveland Bank, 304, 305, 379 ; failure 
 of, 232. 
 
 Stockton and Darlington Railway opened, 154, 346. 
 
 Stockton and Durham County Bank, Stockton, 
 103, 382 ', transferred to the Nat. Prov. B. of 
 Eng., 113, 314, 383 ; forgery of notes of, 383. 
 
 Stodart, Ralph, panic in Newcastle, 29. 
 
 ytoddart, John, panic in Newcastle, 49. 
 
 Stokes, Mr., sale of estates of Messrs. Blake, 
 Reeds, & Co., 169. 
 
 Stokes, Henry, London, 358. 
 
 Stokes, Wm. Richard (Richardson & Mowbray), 
 353, 356, 358. 
 
 Stonehouse & Satchell, 275. 
 
 Stoppage of banks, inconvenience of, 66. 
 
 Storer, E. A., Alnwick & County Bank, 133 ; pre- 
 sented with a testimonial, 134. 
 
 Storey, Mr., 240. 
 
 Storey, Robert, 275, 418. 
 
 Storey, R. B., 419. 
 
 Stothard, Sharp, 275. 
 
 Stott, William, support of Durham Bank, 303. 
 
 Stowell, William, formation of Dar. Bank, 238. 
 
 Stowell, W. Stow, CockerelL 141. 
 
 Strachan, R., particulars of Tontine scheme, 391. 
 
 Straker, Frederic, Woods & Co., 407 ; photo of, 406. 
 
 Straker, John C, Woods & Co., 407 ; photograph 
 of, 408. 
 
 Straker, Jos., Prov. Com. Union Bank, 320. 
 
 Strathmore, Earl of, panic in Newcastle, 29, 53. 
 
 Strickland, Arthur (Hagues, Strickland, & Allen), 
 279 ; became bankrupt, 280. 
 
 Strongitharm v Lakyn, trial of, 61. 
 
 Strutt, Mr., Committee of Secrecy, Bank of Eng- 
 land Charter, 109. 
 
 Stuckey's Banking Company, 415. 
 
 Styca, The, 12. 
 
 Styca of Eggbehrt, 13. 
 
 Summers, John, panic in Newcastle, 49. 
 
 Summerskill, John, formation of No. Co. Bank, 326. 
 
 Sunderland Bridge lottery, handbill of, 391, 392. 
 
 Sunderland Joint Stock Bank, 103, 208, 336, 363, 
 383 ; prospectus of, 383 ; appointment of a 
 Provisional Committee, 383 ; first report of 
 directors of the, 384 ; suspension of payments, 
 113, 384. 
 
 Sunderland, Langdale, 29. 
 
 Sunderland and Northallerton, trade of, 77. 
 
 Surtees & Burdon, Newcastle and Berwick, founded 
 311, 385 ; notes of, guaranteed, 29, 385 ; notes 
 of, again supported, 386 ; establishing of a 
 branch of, at Berwick, 389 ; re-constituting of, 
 387 ; announcement of sale of notes of, 396. 
 
 Surtees, Burdon, & Co., Newcastle, 57, 64, 65, 71, 
 136, 195, 242, 247, 264, 269, 272 ; early method 
 of " clearing," 117 ; panic in Newcastle, 247 ; 
 confidence in, 247 ; suspension of payments, 49, 
 69, 181, 247 ; re-opening of, 248 ; scarcity of 
 gold, 248 ; meeting in support of local banks, 
 248; became bankrupt, 70, 249, 310, 311 ; rumours 
 re Smith, Payne, & Co., 386. 
 
 Surtees, Burdon, & Brandling, 395, 400 ; suspension 
 of payments, 388 ; decline business, 388 ; an- 
 nouncements regarding winding-up of, 389 ; 
 general meeting of creditors of, 390, 391 ; an- 
 nouncement of a Tontine scheme, 391. 
 
 Surtees, Burdon, Embleton, & Co., Berwick, 57, 
 387 ; announcements regarding winding-up of, 
 389 ; general meeting of creditors of, 390, 391 ; 
 announcement of a Tontine scheme, 391 ; debts 
 proved against, 393, 394 ; debts paid, 394. 
 
 Surtees, Burdon, Surtees, & Brandling, 387. 
 
 Surtees, Burdon, Weatherby, & Co,, Berwick, 387. 
 
 Surtees, Aubone, 272, 385, 395, 398; died, 387, 
 397 ; married the daughter of John Stephenson, 
 Newcastle, 395 ; gained the freedom of the 
 Hostmen's Company, 395 ; Sheriff of Newcastle, 
 395 ; Mayor of Newcastle, 395 ; elected an 
 Alderman, 395 ; account of the elopement of 
 the daughter of, 397 ; of Exchange Bank, 385. 
 
 Surtees, Aubone, jun., Exchange Bank, Newcastle, 
 158, 385, 387, 394, 398; part proprietor of the 
 Tyne Iron Co., 389; bankruptcy of, 71, 390; 
 debts proved against the estate of, 393 ; sale of 
 estates of, 395 ; Sheriff of Newcastle, 398 ; 
 treasurer of Newcastle Infirmary, 398 ; fined for 
 refusing to serve the office of Alderman of 
 Newcastle, 398 ; married third daughter of 
 Roger Altham of Islington, 398 ; died at Hon- 
 fieur, 398. 
 
[462] 
 
 Surtees, Aubone Altham, died in Newcastle, 398. 
 Surtees, Miss Bessie, account of elopement of, 397. 
 Surtees, Edward, married daughter of William 
 
 Aubone, 895. 
 Surtees, John, Exchange Bank, N/c, 385, 387 ; 
 
 part proprietor of the Tyne Iron Co., 388 ; 
 
 bankruptcy of, 71, 390 ; debts proved against the 
 
 estate of, 393 ; sale of estates of, 394 ; fined for 
 
 refusing to serve the office of Aid. of ISf/c, 398. 
 Surtees, Robert, Redworth Hall, 189. 
 Surtees Wm., panic in N/c, 49, 275, 394, 398. 
 Surtees, Wm. A., duel with John Steavenson, 
 
 262. 
 Sutherland, Samuel, 21. 
 Sutherland, Thomas, 419. 
 Sutter, David, 419. 
 Swaine, G. H., Tees Bank, 289. 
 Swainston, Thos., 29. 
 Swaledale & Wensleydale, Banking Co., Richmond, 
 
 102, 291, 292, 298, 294, 2, 401 ; particulars of 
 
 note issue of the, 112 ; appointment of directors 
 
 of, 401 ; prospectus of the, 401. 
 Swan, John, 419. 
 
 Swan, Richard, counterfeit coinage, 40 ; proposi- 
 tion of Messrs. Lambton & Co. to form a Joint 
 
 Stock Bank, 251. 
 Swan, R., 419. 
 
 Swan, Thomas, Bedale, 136, 418. 
 Swann & Co., Thirsk, 87. 
 Swann, Clough, & Co., York, 92 ; failed, 200. 
 Swann, John, York Bank, 96, 362, 
 Swinbank, Thomas, Ayclifie, 141. 
 Swinburne, Sir J. E., Bart., winding up of Messrs. 
 
 Surtees, Burdon, & Co., 390. 
 Swinburne, Thomas, 289 ; support of Durham 
 
 Bank, 308. 
 Swinburne, Rev. Wm., vicar of Tinden, 191. 
 Swineyard, Benjamin, collector of excise, 265. 
 Swinhoe, Thomas (Skinner & Glover, N/c), 259. 
 Sykes, Sir Christopher, & Co., Malton, 46, 219, 
 
 402 ; Sir C. Sykes died, 402. 
 Sykes, Christopher, married the daughter of Wm. 
 
 Tatton of Withernshaw, 402. 
 Sykes Family, origin of, 402. 
 Sykes, Rev. Mark, created a baronet, 402 ; died, 
 
 402. 
 Symons, Fredk., Bill to compel the London and 
 
 No. Bank to wind up, 301 ; prosecution of, 302. 
 
 TaLLENTIRE & LiDDELL, 49. 
 
 Talleyrand, proposal to confiscate all the Church 
 
 property, 61. 
 Tankervillc, Earl of, support of N/c. Banks, 58 ; 
 
 suspension of bank, 66 ; Chillingham, 311. 
 Tatton, William, Withernshaw, 402. 
 Taylor, H. & Son, 419. 
 Taylor & Co., 49. 
 Taylor & Wilkinson, 275. 
 Taylor, Ann, 275. 
 Taylor, E., 418. 
 
 Taylor, Gawan (Bell, Woodall, & Co.), 196. 
 Taylor, George, 419. 
 
 Taylor, Hy. (Backhouse & Co.), Durham, 145. 
 Taylor, J. (Backhouse & Co.), 138. 
 Taylor, James, formation of No. Co. Bk., N/c, 326, 
 Taylor, John, 275, 
 
 Taylor, Mr., Wakefield, formation of the Yorkshire 
 District Bank, 416. 
 
 Taylor, Thomas, 275. 
 
 Taylor, Wm., Hexham agent. London & Northern 
 Bank, 301. 
 
 Taylorson, Wm., Commercial Bank, Sfcokesley, 378. 
 
 Teasdale, Captain, 192. 
 
 Teasdale, Nicholas, agent for Messrs. Davison- 
 Bland & Co., Newcastle, 243. 
 
 Teather, John, petition for the dissolution of 
 Union Bank, 325. 
 
 Tees Bank, The, founded, 287, 289 ; failed, 287, 
 
 Tempest, Mr., large demands for gold upon Messrs, 
 Davison-Bland & Co., Newcastle, 245. 
 
 Tempest, Sir Henry Vane, died, 358. 
 
 Temple, S., jun., 52. 
 
 Ten pound notes, tax on, 34. 
 
 Tetley, Mr., Dresser & Co., Thirsk, 263. 
 
 " The Bank in Newcastle," 57. 
 
 " The Buildings," 262. 
 
 Thew, Edward, jun., agent Alnwick branch New- 
 castle Joint Stock Bank, 321, 323. 
 
 Thomas, "a Scotts man coining hard heddes on 
 Cokett Island," 122. 
 
 Thomas, Judge, Madras Presidency, 228. 
 
 Thompson & Reay, panic in Newcastle, 29. 
 
 Thompson, Benjamin, agent for Messrs. Chapman 
 & Co., Morpeth, 218; family name changed to 
 Bullock, 218, 224 ; director North of England 
 Joint Stock Banking Co., 332. 
 
 Thompson, Hodgson, Sunderland, 364. 
 
 Thompson, Humphrey, formation Joint Stock 
 Bank, Darlington, 237. 
 
 Thompson, John, gentleman, Newcastle, 259. 
 
 Thompson, Mary, 419. 
 
 Thompson, Mrs., conveyance of treasure, 242. 
 
 Thompson, P., Com. of Secrecy, Bank of England 
 Charter, 108. 
 
 Thompson, Samuel, 295. 
 
 Thompson, W. F. H. (Bower, Dewsbury, & Co.), 
 199, 200. 
 
 Thoresby, Ralph, antiquary, 124. 
 
 Thornhill, C. T., affairs of Cooke & Co., 231, 275. 
 
 Thornton, Robert, Barmpton, 140. 
 
 Thorpe, Robt.,D.D., supportof Durham Bank, 308. 
 
 Thurston, J., engraver, 83. 
 
 Thwaitea, John, 419. 
 
 Tindall, Jno. & Co., Scarborough, 219. 
 
 Tindall, Jas. (Bell, Woodall, & Co.), 196; retire- 
 ment of, 197. 
 
 Tindall, John (Bell, Woodall, & Co.), 196, 197; 
 retired, 197. 
 
 Tinley, John, 418. 
 
 Tinley, Thomas, 418. 
 
 Tipperary Bank, transfer of local capital of New- 
 castle Commercial Bank to, 317, 318, 
 
 Todd, George, 275. 
 
 Todd, John, bookseller, York, 66. 
 
 Todd, R., Newcastle Chamber of Commerce, 202, 
 
 Todd, Thomas, 419. 
 
 Tokens, issue of, 17. 
 
 Tolson, Mr., Bradford, formation of the Yorkshire 
 District Bank, 416. 
 
 Tontine, Parliamentary powers for a, procured, 891. 
 
 Tontine principle, life annuities granted upon the, 
 126. 
 
[463] 
 
 Tontines and lotteries, 125. 
 
 Topham, Edward, North Riding Bank, 350. 
 
 Topham, Lupton, election of registrar for North 
 Riding of York, 352. 
 
 Toplin, Wilson, 288. 
 
 Total expenses of the Branch Banks of England 
 during 1828-1830, account of the, 217. 
 
 Town hutch, Newcastle, 22. 
 
 Towns, Sarah, 419. 
 
 Trade impeded by bank failures, 87. 
 
 Trade tokens, issue of, 73. 
 
 Tradesmen speculate in suspend, bankers notes, 93. 
 
 Trading bankers, 5. 
 
 Transit of money considered dangerous, 30. 
 
 Travis, John, Hull, 136. 
 
 Tretwell, John, Boroughbridge, 136. 
 
 Trevelyan, Sir Walter, forged assignats, 61. 
 
 Trevelyan, W., Netherwitton, 158 ; failure of 
 Surtees, Burdon, & Co., 388. 
 
 Trotter, Archibald, agent of " The Ship Bank," 9. 
 
 Trotter, A., 418. 
 
 Trotter, Dr., Darlington, 136. 
 
 Trotter, Robert, 419. 
 
 Tuke, Samuel, form, of the York City and County 
 Bank, 409. 
 
 Tunstal, Bishop, 15. 
 
 Turnbull, Eliz., 419. 
 
 Turner, Charles, 419. 
 
 Turner, Edw., counterfeit coinage, 40. 
 
 Turner, Rev. William, Newcastle, 271 ; MS. of 
 Ambrose Barnes, 190 ; form, of the Newcastle 
 Savings' Bank, 366, 367. 
 
 Tweed Bank, The, 162, 311 ; payment of dividends, 
 162 ; failure of, 162. 
 
 Twiss, "Life of Lord Eldon," 271, 397. 
 
 Twyford, arms of Hoar of, 257. 
 
 " Tyne Bank," Newcastle, 32, 57, 155, 242, 247 ; 
 forgery of notes of, 33, 155 ; issue of new £5 
 notes, 33, 155 ; make overtures to Messrs. Lamb- 
 ton & Co. for amalgamation, 60, 248 ; reply of 
 Lambton& Co., 248; scarcity of gold in N/c, 248. 
 
 Tyne Exchange Banking Co., Ltd., Newcastle- 
 upon-Tyne, 117, 328, 403 I copy of prospectus 
 of the, 403. 
 
 Tyne Iron Co., dissolution of partnership of the, 
 389, 391. 
 
 Tyrconnel, Right Hon. the Earl of, formation of 
 Darlington Bank, 237. 
 
 Tyzack, B. C, 419. 
 
 Union Joint Stock Bank, The Newcastle-upon- 
 Tyne, 110, 208, 225, 282, 285, 286, 403 ', pur- 
 chased business of Chapman & Spence, 285, sus- 
 pension of payments of, 339. 
 
 Union Bank of Scotland, The, Glasgow, 329. 
 
 Union Pottery, The, 275. 
 
 Unthank, John, panic in Newcastle, 49. 
 
 VaIjIANT, F., dir. of the N/c. Commercial Bk., 317. 
 
 Van Straubenzie, Major, *'Loyal Dale Volunteers," 
 293. 
 
 Vaux, Cuthbert, 275. 
 
 Vere, Glyn, & Hallifax, London, 178, 179. 
 
 Vickers, William, Sheffield, director of the York- 
 shire Dis. Bank, 416. 
 
 Vickerson, Wm., 419. 
 
 Villiers, Villiers William, Bath, 394. 
 
 Vyner, Samuel, support of Durham Bank, 808. 
 
 Wade, — , Sunderland Bank, 362, 364. 
 
 Wadeson, Matthew, agent for Davison-Bland & 
 
 Co., 243. 
 Wailes, W., 419. 
 
 Waistell, Matthew, Airey Hill, 140. 
 Waistell, Robert, Airey Hill, 140. 
 Wait, William, poll clerk No. Riding election, 352. 
 Wake, James, 419. 
 Wake, Michael, 419. 
 Wake, Thomas, 275. 
 Wakefield, Geo., Northumberland Bank, 163, 171 ; 
 
 married Miss Wright of Stockton-upon-Tees, 171 ; 
 
 erected " Wakefield House," 171 ; death of, 171. 
 Wakefield, Geo., agent for Davison-Bland, 243. 
 Wakefield, Robinson, Darlington, 171. 
 Waldie, George, Hendersyde Park, 158. 
 Waldie, George, Kingswood, 159 ; married Miss 
 
 Ormston, 159. 
 Walker, John, & Co., 418. 
 Walker, Andrew, 275. 
 
 Walker, E., Newcastle Chamber of Commerce, 202. 
 Walker, Edw., formation of the Newcastle Savings' 
 
 Bank, 366. 
 Walker, Geo., director No. of Eng. Jt. St. Bk., 332. 
 Walker, Gerald, director of the Swaledale and 
 
 Wensleydale Banking Co., 402. 
 Walker, James, Stockton, 381. 
 Walker, John, Wall's End, 158, 376, 419. 
 Walker, John Chapman (Simpson, Chapman, 
 
 & Co.), 373, 375, 376, 411 ; retired, 376 ; portrait 
 
 of, 375. 
 Walker, Luke, 288. 
 Walker, Ness, guinea note of Messrs. Hutton, 
 
 Wood, Other, & Co., 292 ; present manager of the 
 
 Swaledale and Wensleydale Bk., Richmond, 402. 
 Walker, Richard, Stockton, 380, 381. 
 Walker, Thomas, 419. 
 
 Walker, Thomas S., form, of Darlington Bank, 237. 
 Walker, W., managing director of the Newcastle 
 
 Commercial Bank, 317 ; issue of a circular to 
 
 customers of Newcastle Commercial Bank, 317 ; 
 
 issue of a circular to shareholders of Newcastle 
 
 Commercial Bank, 318. 
 Walker, W. D., North Riding election, 352. 
 Walker, Robert, director of the York City and 
 
 County Bank, 409. 
 Wallis, George, counterfeit coinage, 40. 
 Wallis, William, 52. 
 Walmsley, Elizabeth, 419. 
 Walsh, Edward, support of Durham Bank, 308. 
 Walters, Ralph, director of the London and 
 
 Northern Bank, 299, 300, 301. 
 Walters, Robert, 49 ; formation of the Newcastle 
 
 Savings' Bank, 366. 
 Walters, Wm., formation of Darlington Bank, 237. 
 Walton, J. S., election of Registrar of the North 
 
 Riding of York, 352. 
 Walton, Nicholas, 29. 
 Walton, Nicholas, jun., 29. 
 Walton, Mr., riot at Sunderland, 73. 
 Walton, Robert B., North Riding election, 352. 
 Walton, Thomas, North Riding Bank, 350 ; Deputy 
 
 Registrar North Riding of York, 350, 351, 352. 
 
[464] 
 
 Walton, William, agent for Messrs. Davison-Bland 
 
 & Co., Newcastle, 243. 
 Warburton, Mr., Com. of Secrecy Bank of England 
 
 Charter, 108. 
 Wardle, James, agent for Davison-Bland & Co., 
 
 Newcastle, 243. 
 Ward, John, Birmingham, 136 ; support of Dur- 
 ham Bank, 308. 
 Ward, John, jun., support of Durham Bank, 308. 
 Ward, Thos. Reed, support of Durham Bank, 308. 
 Ward, William, J. P., coinage of base money, 123. 
 Wardle, William, 419. 
 Ware, Wm., manager of the Swaledale & Wensley- 
 
 dale Banking Co., 401, 402. 
 Warwick, Lamb, Wright, J. Lamb, & Co., 404 
 Waterhouse, Thos., Beckingham Hall, Notts, 307. 
 Waters, Matt., 29. 
 
 Watkin, Sober., support of Durham Bank, 308. 
 Watson, A., 419. 
 Watson, James, Heworth, 141. 
 Watson, James, jun., Heworth, 141. 
 Watson, Joseph, 49. 
 Watson, Michael, Staindrop, 136, 138. 
 Watson, William, support of Durham Bank, 308. 
 Watts, Capt. George A., R.N., married Miss Jane 
 
 Ormston, 159. 
 Watts, Capt., R.N., form, of Darlington Bank, 237. 
 Waugh, Joseph, form, of Darlington Bank, 238. 
 Wauklin, J. B., formation of the North-Eastern 
 
 Banking Co., 328. 
 Wawn, C. W., form, of the N/c. Savings' Bank, 366. 
 Wawn, Edw. Twizell, director of the Newcastle 
 
 Commercial Bank, 316. 
 Wawn, John T., director Northumberland and 
 
 Durham District Bank, 336. 
 Wealands, William, 275. 
 Wear Joint Stock Banking Co., Sunderland, 274, 
 
 275, 276, 404 ; failure of, 282 ; fraud upon, 278. 
 Weatherburn, J., 419. 
 Weatherby, — , (Surtees, Burdon, & Co.), Berwick, 
 
 385. 
 Weatherhead, Mary, 418. 
 
 Webster, Grimshaw, & Co., Bishopwearmouth, 391. 
 Webster, Rowland, jun., 275. 
 Weightman, Henry, 419. 
 Welbeck, Mr., Northallerton Bch. Dar. Dis. Bk., 
 
 238. 
 Welford, Richard, State papers, 121 ; St. Nicholas' 
 
 Church, N/c, 159 ; " Men of Mark," 254, 400, 406. 
 Weatherley, Hannah, Newcastle, 259. 
 Weatherley, James D., dir. of N/c. Com. Bk., 316. 
 Weatherley, John, 419. 
 Webster & Matthewson, 419. 
 Wellington, Duke of, 109 ; visits Stockton, 381. 
 Wells & Co., Whitby, 306. 
 Wells, Dymoke (Miles, Wells, & Co.), 306, 307; 
 
 died at Kexby Grange, Lincolnshire, 307 ; claim 
 
 of the barony of Marmion, 307. 
 Wells, Dymoke, Grebby Hall, Lincoln, 307 ; died, 
 
 307. 
 Weltshire, John, arrested for the robbery of Mr. 
 
 Burdon, 386. 
 Wentworth & Co., York, 219, suspend payment, 91. 
 West of England Bank, The, Plymouth, 213. 
 West India Houses in London, failures of the, 246. 
 Weston, Phipps, support of Durham Bank, 308. 
 
 Wetherell, Mowbray, & Co., Darlington, 69, 129, 
 310, 354 ; outstanding notes of Mills, Hopper, & 
 Co. taken up, 354. 
 
 Wetherell, John, Field House, 136, 137, 310; 
 (Richardson & Mowbray), 353, 354, 355, 356 ; 
 died, 354. 
 
 Wetherell, John, Morton, 141. 
 
 Wetherell, Wm., Stockton and Dar. Canal, 230. 
 
 Weyms, Mr., Durham, 277. 
 
 Whale, John, 419. 
 
 Wheatley, Wm., Prov. Com. Union Bank, 320. 
 
 Wheeler, Thomas, formation of the Yorkshire 
 District Bank, 416. 
 
 Whinnam, Robert, 275. 
 
 Whitby Bank, Whitby, 306; past partners of, 375. 
 
 " Whitby Shilling," the circulation of, 73. 
 
 White, Aid., formation of Sunderland Bk., 383, 384, 
 
 White, Andrew, formation of the Newcastle Joint 
 Stock Bank, 319 ; formation of the Sunderland 
 Joint Stock Bank, 383, 384 ; director North of 
 England Joint Stock Bank, 332 ; director North- 
 umberland and District Banking Co., 336. 
 
 White, Christopher, Morton, 141. 
 
 White, John, counterfeit coinage, 40. 
 
 White, John, Barmkin Moor, 141, 275 ; support of 
 Durham Bank, 308 ; Prov. Com. Union Bk., 320. 
 
 White, Jonathan, support of Durham Bank, 308. 
 
 White, Alderman Matthew, 192. 
 
 White, Matthew, Blagdon, 192 ; formation of the 
 Newcastle Joint Stock Bank, 319. 
 
 Whiteby, Joseph, 29. 
 
 Wholesale Co-operative Society, Limited, New- 
 castle-upon-Tyne, 405 i formation of a bank- 
 ing department of the, 405 ; negotiations for 
 amalgamation with the Industrial Bk,, Ltd., 296. 
 
 Widdrington, John, Old Bank, 174, 178, 191 ; 
 married, 191 ; appointed auditor to Duke of 
 Northumberland, 191 ; audit for the receipt of 
 fee farm rents, 191 ; died, 181, 192. 
 
 Wigham, G., 419. 
 
 Wigram, Clifford, dir. Bank of England, revised 
 Mr. Thomson Hankey's book. 111. 
 
 Wilde, John, support of Durham Bank, 308. 
 
 Wilkes & Co., agents for Wells & Co., 306. 
 
 Wilkin, John, 418. 
 
 Wilkinson & Son, London, 329. 
 
 Wilkinson, Chris., 29. 
 
 Wilkinson, James, Old Bank, 174 ; death of, 181 ; 
 member of the Common Council of Newcastle, 
 192 ; fined for refusing to serve the office of 
 Sheriff, 192. 
 
 Wilkinson, James (Chaytor & Co.), 225. 
 
 Wilkinson, James (Frankland, John and James), 
 273, 274 ; married Miss Jane Marsingale, 274. 
 
 Wilkinson, John, Mayor of Stockton, 305. 
 
 Wilkinson, Joseph, 275. 
 
 Wilkinson, Martin, support of Durham Bank, 308. 
 
 Wilkinson, Richard, attorney, 189. 
 
 Wilkinson, Robert (Lumley, Smith, & Co.), 304, 305. 
 
 Wikinson, Sam., clerk of the London and New- 
 castle coach, 30. 
 
 Wilkinson, Samuel, Sleights, 274. 
 
 Wilkinson, William J., formation of the North- 
 Eastern Banking Co., 328. 
 
 Wilkinson, Wm. M., formation of the North- 
 Eastern Banking Co., 328. 
 
[465] 
 
 Willan, R,, purchase of Darlington District Bkg. 
 Co. by York City and County Bank, 238. 
 
 Williams, B., London. 303. 
 
 Williamson, Dr., Whickham, 260. 
 
 Williamson, Hedworth, 275. 
 
 Williamson, John, winding-up Dar, Dis. Bk., 239. 
 
 Williamson, Robert Hopper (Davison-Bland, & 
 Co.), 239, 245 ; retired, 239 ; autograph of, 245 ; 
 removal of notes from bank to private residence 
 of, 246 ; panic in Newcastle, 247, 248 ; descended 
 from the family of Hopper of the County 
 Palatine, 260; married the heiress of Dr. 
 Williamson, of Whickham, 260 ; assumed the 
 surname of Williamson, 260 ; elected Recorder 
 of N/c, 262 ; appointed Temporal Chancellor of 
 Durham, 262 ; died, 262. 
 
 Willis & Co., agents for Hammond & Co., 281. 
 
 Willis, Wood, Percival, & Co., 351. 
 
 Wilson, Arthington, & Co., Leeds, 136. 
 
 Wilson, & Co., York, 219. 
 
 Wilson, Tweedy, & Co., York, 92, 219. 
 
 Wilson, Caleb, riot at Sunderland, 73. 
 
 Wilson, Edw., 49. 
 
 Wilson, George, director No. -East. Bkg. Co., 329. 
 
 Wilson, Col. Jas., purchase of the Smeaton estates, 
 306. 
 
 Wilson, John (Tweed Bank), 162. 
 
 Wilson, Ralph, Prov. Com. of the Union Bank, 
 320, 322. 
 
 Wilson, Sarah, 419. 
 
 Wilson, William, 412. 
 
 Wilton, Joseph, R.A., 269. 
 
 Winder, Wm., Prov. Com. of the Union Bank, 320. 
 
 Winn, James C, director of the Swaledale & Wens- 
 leydale Banking Co., 402. 
 
 Witham, Henry, Lartington, 158. 
 
 Wolfall, William, counterfeit coinage, 43. 
 
 Wollaston, W. H., forgeries on Bank of England, 
 80. 
 
 Wolsey, Thomas, coins struck by, 13. 
 
 Wood, Charles, M.P., 97 ; shares in Joint Stock 
 Banks, 115. 
 
 Wood, Dr. Monkwearmouth, 277. 
 
 Wood, George, support of Durham Bank, 308, 309. 
 
 Wood, John, promotion of the Yorkshire Agricul- 
 tural Bank, 412. 
 
 Wood, Mr., Com. of Secrecy, Bank of England 
 Charter, 109 ; refusal of country bank notes by 
 Branch Banks of England, 206. 
 
 Wood, Mr. (Hutton, Other, & Co.), 291, 292. 
 
 Wood, Richard, dir. of York Union Bkg. Co., 411. 
 
 Woodall, Hebden, & Co., Scarborough Old Bank, 
 note issue allowed by Act, 112, 120. 
 
 Woodall, Tindall, & Co., Scarborough, 219, 405. 
 
 Woodall, Charles W. (Bell, Woodall, & Co.), 196, 
 197, 198. 
 
 Woodall, John (1) (Bell, Woodall, & Co.), 196, 198, 
 died, 197, 128. 
 
 Woodall, John (2) (Bell, Woodall, & Co.), 196, 198; 
 married Ann, daughter of John Dowker, Esq., 
 Elton, 198 ; died, 198. 
 
 Woodall, John (3) (Bell, Woodall, & Co.), 196, 198 ; 
 Mayor of Scarborough, 198 ; married the daugh- 
 ter of the Rev. W. Woodall, rector of Branston, 
 198 ; died, 198. 
 
 Woodall, John, jun. (Bell, Woodall, & Co.), 197. 
 
 Woodall, John Woodall (Bell, Woodall, & Co.), 196, 
 
 197, 198. 
 Woodall, Rev. W., rector of Branston, 198. 
 Woodness, Thomas, support of Durham Bank, 808. 
 Woods & Co., Newcastle-upon-Tyne, founded, 116, 
 
 119, 120, 304, 322, 406, 407; opening of 
 
 branches of, 314, 407 ; balance sheet of, 407 ; 
 
 past partners of, 408 ; present partners of, 406. 
 Woods, Parker, & Co., 285 ; purchase of the Union 
 
 Joint Stock Bank, 326, 406. 
 Woods, John A. (Woods, Parker, & Co.), 406, 407 ; 
 
 photo of, 406. 
 Woods, Jas. E. (Woods & Co.), 407 ; photo, of, 406. 
 Woods, John F. (Woods & Co.), 407 ; retired, 407 ; 
 
 photo, of, 408. 
 Woods, Wm., Alnwick & Co. Bk., 133 ; death of, 133. 
 Woods, Wm., suspension of the Union Joint Stock 
 
 Bank, 323, 324 ; chairman of the directors of the 
 
 Union Bank, 323, 406 ; winding-up of the Union 
 
 Joint Stock Bank, 325, 326; Woods, Parker, 
 
 & Co., 406 ; died, 406 ; photo, of, 408. 
 Woods, T. J., editor of the " Black Dwarf," 81. 
 Wordsworth, the poet-laureate, 289. 
 Worthy, Wm., support of Durham Bank, 308. 
 Wray, John, Yarm, 136, 188. 
 Wright, Selby, & Robinson, London, 296. 
 Wright, John, Yarm, 136. 
 Wright, John, director, Nat. Prov. Bank, 814. 
 Wright, Thomas, affairs of Cooke & Co., 231, 418. 
 Wrottesley, Sir John, Bart., M.P., 96; Committee 
 
 of Secrecy, Bank of England, 109. 
 Wylam, Edward, jun., 275. 
 Wyvill, Christopher, director of the SwaJedale & 
 
 Wensleydale Banking Co., 401. 
 
 Ykoman, Mr., purchase of Darlington District 
 Bank by York City & County Bank, 238. 
 
 Yielder, William, 49. 
 
 York, pennies struck at, 13. 
 
 York City and County Banking Co., Malton, 113, 
 409, 412; open a branch in Newcastle, 120; 
 absorb Darlington District Bank, 120 ; open a 
 branch in Sunderland, 120 ; transfer of Richard- 
 son, Holt, & Co. to, 228 ; negotiations opened 
 for purchasing the Darlington District Bank, 
 238 ; purchase of the business of Prankland & 
 Wilkinson, 274 ; purchase of business of Richard- 
 son & Holt, 284 ; formation of, 409 ; registered 
 under the Limited Liability Act, 409. 
 
 York Mint. 13. 
 
 " York Shilling," the circulation of, 73. 
 
 York Union Banking Co., Malton, Whitby, Thirsk, 
 &c., 120, 410 i meetings of subscribers held, 
 410 ; report of the committee of the, 410 ; 
 establishment of a branch at Driffield, 411 ; 
 registered under the Limited Liability Act, 411 ; 
 note issue of the, 411 ; purchase of Messrs. 
 Simpson, Chapman, & Co., Whitby, 411. 
 
 Yorkshire and Cleveland Bank, Stockton, 415. 
 
 Yorkshire Agricultural and Commercial Banking 
 Co., Malton, Whitby, &c,, 412 ; opening of 
 branches of the, 412 ; purchase of the business 
 of the "Northern and Central Banking Co.," 
 Leeds, 412 ; failure of, 412 ; refusal of drafts of 
 the, 412 ; report of the investigation Committee, 
 418 ; particulars of liabilities & assets of the, 418. 
 
[466] 
 
 Yorkshire Banking Co., Thirsk, established, 263, 
 4-I4 ; copy of prospectus of the, 414 ; authorised 
 note issue of the, 415 ; formation of branches of 
 the, 415 ; purchase of the Yorkshire and District 
 Banking Co., 263, 417. 
 
 Yorkshire District Banking Co. , Thirsk, estabHshed, 
 263, 415 ; report of the Provisional Committee 
 of the, 416 ; appointment of directors of the, 416 ; 
 transfer of Jos. Dresser & Co. of Thirsk to the, 
 268, 417 ; purchase of by the Yorkshire Banking 
 Co., 263, 417. 
 
 Yorkshire Penny Bank, Whitby, Scarborough, &c., 
 established, 417 ; first report of the, 41 7 ', num- 
 ber of depositors, 417 ; addition of the school 
 transfer fund, 417 ; opening of the new premises 
 
 • of the, at Leeds, 418. 
 
 Young, Turquand, & Co., 362, 
 
 Young, Thomas, & Sons, Arcade, Newcastle, 331. 
 
 Young, James (Dale & Co.), 233 ; retired, 233. 
 
 Young, Ralph, 49. 
 
 Young, Robert, 29. 
 
 Young, Thos., 275 ; Prov. Com. Union Bank, 320. 
 
 Younger, Barbara, 419. 
 
J9 
 
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