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The Encyclopaedia of Plymouth History

BANKING

WESTERN DISTRICT BANKING COMPANY

The Western District Banking Company was established at Devonport on September 12th 1836, with Mr George Hawtayne as its general manager.   The main office was in Saint Aubyn Street, Devonport.

It soon opened branches at Kingsbridge, Totnes and Plymouth, in Devon, and at Falmouth, Saint Columb, Truro, Helston and Penzance in Cornwall.   However, it was not a well-established concern and the branches at Kingsbridge and Plymouth were closed in 1842, Totnes in 1843 and the Helston branch and Devonport headquarters in 1844.

The remaining branches at Penzance, Falmouth, Saint Columb and Truro were dissolved on August 14th 1844 and business transferred to Messrs Ricketts, Enthoven and Company, of London, in the September.  The shareholders lost some £120,000 along with the surplus fund and a quarter of the capital.

Sadly the new owners did no better than the old ones and they, too, ran in to financial difficulties, the four Cornish branches finally closing down on October 11th 1847.

Sources:

[1]

©  Brian Moseley, Plymouth, UK

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