PLYMOUTH |
The Encyclopaedia of Plymouth History |
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DEVON AND CORNWALL BANKING COMPANY Ltd
Messrs Symons, Saltau and Company formed their banking partnership in 1809. Although the partnership is not listed in Plymouth in 1830, it is said that following the introduction of the Banking Copartnership Act of 1826, it was re-formed as the Plymouth & Devonport Banking Company in 1832. Then, in either 1833 or 1836 (sources differ), when Hingston's General Bank was absorbed, it was renamed the Devon & Cornwall Banking Company. [1] In 1850 it had branches at 32 Bedford Street, Plymouth, and 38 Fore Street, Devonport. [2] This differs from the information provided on the accounts presented to shareholders at the Fifty-Fourth Annual General Meeting on February 19th 1886. This shows the date of formation as January 1832. [3] At that time the chairman of the Board of Directors was Mr Charles Prideaux, and his Deputy was Mr William Henry Prance. The other Directors were: Mr Charles Albert Hingston; Mr George Hubbard; Mr George Jackson; Captain Thomas Archer Julian; and Mr Charles Salmon Vallack. The Bank's capital comprised £1,000,000 in shares of £200. [3] The Head Office Bank was managed by Mr Alfred Hingston, with Mr Frederick C Hingston as Sub-Manager and secretary. Mr Edmund F Kent was Assistant Secretary and Mr Arthur E Pridham was Superintendent of Branches. [3] It is of some interest to note that at the end of 1885 the Bank held £232,225 0s 10d in cash and had investments totalling £1,496,357 11s 1d in English Government Securities, Bank of England Stock, Colonial Government Securities, and Railway Debenture Stocks. [3] In 1897 it was listed at 36 Bedford Street, and 31 Fore Street, with additional premises at 12 Edgcumbe Street, Stonehouse,and 9 Belgrave Terrace, Mutley Plain. [4] The freehold of the Stonehouse premises was purchased on November 24th 1899 for £136 10s 10d and the branch was rebuilt in 1907. [5] It had 55 branches throughout Devon, Cornwall and Dorset when it was absorbed into Lloyd's Bank Ltd on January 1st 1906. [6] Sources:
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