Brecon Old Bank
The Brecon Old Bank was founded in Brecon in 1778 by John Wilkins (1713–1784),{{cite web |url=https://biography.wales/article/s-WILK-INS-1350 |title=WILKINS | Dictionary of Welsh Biography |website=biography.wales |access-date=30 September 2009}} who was highly regarded by the directors of the Bank of England.Early Banks in West Wales, by Francis Green (in West Wales Historical Records, The Annual Magazine of The Historical Society of West Wales, Volume VI, edited by Francis Green, Printed by W. Spurrell & Son, 1916)
Development
The bank was originally operated under the style Wilkins & Co. and developed steadily, opening up branches in Merthyr Tydfil, in 1812, and Cardigan, Carmarthen and Haverfordwest, in 1832. The branch at Brecon is now the site of Lloyds Bank.Haslam, R., 2001, Pevsner Architectural Guides, The Buildings of Wales, Powys, Penguin Books/University of Wales Press {{ISBN|0-14-071051-5}} The branch at Cardigan was located on the High Street next to Lloyds Bank.Lloyd., T., Orbach., J., Scourfield, R., 2006, Pevsner Architectural Guides, The Buildings of Wales, Carmarthenshire and Ceredigion, Yale University Press {{ISBN|0-300-10179-1}}
After 1830, the enterprise operated under the name Brecon Old Bank. The bank did well in West Wales, but did encounter a run against its assets in 1866, the year of the Overend, Gurney and Company failure in London. Around a hundred depositors claimed that they wanted their money back to erect water mills, while others said they wanted to build new houses and other buildings. However, bank officials had sufficient resources to meet all calls for this fictional building boom, and all cheques were paid promptly. Depositors were then invited to re-deposit money with the bank once their fears were over. The run on the bank lasted seven days. Afterwards, nearly every depositor reopened an account at the bank.
Sale to Lloyds Bank
References
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Further reading
- {{cite journal |last1=Roberts |first1=R. O. |title=The Operations of the Brecon Old Bank of Wilkins & Co. 1778–1890 |journal=Business History |date=January 1958 |volume=1 |issue=1 |pages=35–51 |doi=10.1080/00076795800000005}}
External links
- [https://www.peoplescollection.wales/items/8472 Cheque of Brecon Old Bank paid out to Madame Patti Nicolini] (see Adelina Patti)
Category:Defunct banks of Wales
Category:Banks established in 1778
Category:1778 establishments in Wales