OLD PLYMOUTH . UK
www.oldplymouth.uk
 

  Brian Moseley, Plymouth
Webpage created: January 22, 2019
Webpage updated: January 22, 2019

        

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DEVON AND CORNWALL BANKING COMPANY LIMITED

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 and 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 and Cornwall Banking Company.

This differs slightly from the information provided on the accounts presented to shareholders at the Fifty-Fourth Annual General Meeting on February 19th 1886, when the date of formation was given as January 1832.

In 1850 Mr David Derry was the manager of the Head Office Bank at 31 Bedford Street, Plymouth, assisted by sub-manager, Mr Alfred Hingston and Mr P C Clarke was manager of the Devonport Branch at 38 Fore Street.

At that time of the Fifty-Fourth Annual General Meeting in 1886, 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.

The Head Office Bank at number 32 Bedford Street, Plymouth, 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.

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 totaling 1,496,357 11s 1d in English Government Securities, Bank of England Stock, Colonial Government Securities, and Railway Debenture Stocks.

Owing to street renumbering in 1897 it was listed at 36 Bedford Street, and 31 Fore Street, with additional premises at 12 Edgcumbe Street, East Stonehouse, and 9 Belgrave Terrace, Mutley Plain.

The freehold of the East Stonehouse premises was purchased on November 24th 1899 for 136 10s 10d and the branch was rebuilt in 1907.

It had 55 branches throughout Devon, Cornwall and Dorset when it was absorbed into Lloyd's Bank Limited on January 1st 1906.