J-S Banks in Surrey
JOINT-STOCK BANKS IN SURREY
After the banking crisis of 1825, in which 56 private provincial banks failed,
the Government passed an Act which permitted
the formation of joint-stock banks - prior to this the Bank of England's charter
had made joint-stock banks illegal. Joint-stock was the name given to companies which are owned by several people who each possessed a certain number of shares in the capital.
Their liability for the company's debts would be limited to that amount.
Initially formation of joint-stock banks was slow, not really taking off until
the 1830s. Eventually a large number of joint-stock banks were formed - by 1850, there were
99 joint-stock banks - by 1866, there were 154. Through a process of
amalgamation and takeover (including with and of the private banks), this number was reduced - in 1936 there were 9. Today in England & Wales we have the 'big
four' high street banks of Barclays, HSBC, Lloyds, and NatWest (which is a subsidiary of the Royal Bank of Scotland).
The Alliance Bank was started in 1862 as the Alliance Bank of London & Liverpool. For a short time around 1890 the Alliance Bank had a branch in Streatham.
CAPITAL & COUNTIES BANK (See Hampshire Banking Company)
ENGLISH JOINT-STOCK BANK
The English Joint Stock Bank was started in 1866, absorbing four other banks (including
the South Eastern Banking Co.). The bank collapsed during the panic later the
same year, three days after the failure of Overend & Gurney . The liquidators took 21 years to adjust the accounts after which they
paid 1/- (5p) per share to those shareholders still surviving.
HAMPSHIRE BANKING COMPANY
IMPERIAL BANK LTD
The Imperial Bank Ltd was started in 1862.
In 1890 the bank had a branch in Dulwich. In 1893 it was taken over by the London Joint Stock Bank.
LLOYDS BANKING COMPANY LTD
LONDON & COUNTIES BANKING COMPANY (See Surrey, Kent & Sussex Bank)
LONDON & PROVINCIAL BANK
LONDON & SOUTH WESTERN BANK
LONDON & WESTMINSTER BANK
LONDON, CITY & MIDLAND BANK
LONDON JOINT-STOCK BANK
NATIONAL PROVINCIAL BANK
SOUTH EASTERN BANKING COMPANY LTD
The South Eastern Banking Co. was started in 1864 as a non-issuer, by the amalgamation of the West Surrey Bank (Mangles Bros.) and Burgess, Canham
& Co. of Ramsgate, Kent.
Very short-lived, in 1866 it was taken over by the English Joint Stock Bank which then failed later that year.
Surrey Branches: Chertsey, Egham, Epsom, Farnham, Godalming, Guildford
SURREY, KENT & SUSSEX BANK
UNION BANK OF LONDON