Banking in Manchester: Difference between revisions

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Many banks
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Manchester's first bank was the Manchester Bank of Byrom, Allen, Sedgewick and Place on Bank Street in 1771.<ref name=PB89PB87>{{Harvnb|Parkinson-Bailey|2000|p=8987-95}}</ref> Over the next century many new banks were founded. They built impressive buildings in the city. [[The Co-operative Bank]] was formed in 1872 as the Loan and Deposit Department of Manchester's [[Co-operative Wholesale Society]], becoming the CWS Bank four years later. However, the bank did not become a [[limited company|registered company]] until 1971.<ref>[http://www.cfs.co.uk/servlet/Satellite?c=Page&cid=1168854206147&pagename=Corp%2FPage%2FtplCorp Co-operative Financial Services History] . Retrieved 18 December 2008.</ref> It's global headquarters is in Balloon Street, and the group headquarters is in the [[Co-operative Insurance Tower]] on Miller Street.
==Commerce in Manchester==
 
Manchester was cotton. In the early nineteenth century, there was some [[Cotton mill|cotton manufacturing]] around [[Murray Mills|Redhill Street]] in Ancoats, but as the century progressed spinning moved away from the city centre, to towns such as [[List of mills in Bolton|Bolton]] and [[List of mills in Oldham|Oldham]], and weaving further away towards north and east Lancashire. Manchester was where the merchants met to sell their grey cloth. Manchester merchants, bought the grey (unfinished cloth had it bleached, dyed and printed and finishes and packed. He finances the cloth until it is bought by a foreign importer. Some merchants import cotton, and have cotton mills in Bombay or Shanghai while also exporting there. They met to trade twice a week at the [[Royal Exchange, Manchester|Royal Exchange]] building, on the largest trading floor in the world. Eight thousand members would have an allocated spot on the floor. Trading was a quiet matter between buyer and seller.<ref name=PB94>{{Harvnb|Parkinson-Bailey|2000|p=94}}</ref> Around the city were the [[Manchester cotton warehouses|warehouses]] that acted as showrooms and packing facilities. Near the [[Railway stations in Manchester|stations]] were the shipping warehouses of the railway companies.
==The Early Banks==
*Manchester Bank of Byrom, Allen, Sedgewick and Place built on Bank Street in 1771.<ref name=PB87/>Demolished.
*John Jones, Bankers and Tea Dealers <ref name=PB88>{{Harvnb|Parkinson-Bailey|2000|p=88}}</ref>
*[[Heywood's Bank]] King Steet (1784) then St Ann's Square <ref name=PB88/>
*Brooks Bank , Market street (1827), Brown Street then Lombard Chambers, Brown Street.<ref name=PB93>{{Harvnb|Parkinson-Bailey|2000|p=93}}</ref>
*[[Bank of England]], King Street (1845) <ref name=PB91>{{Harvnb|Parkinson-Bailey|2000|p=91,144}}</ref>
*Bank of Manchester, Market Street (1829)<ref name=PB89only/>
*[[District Bank|Manchester & Liverpool District Bank]], Spring Gardens (1834) <ref name=PB89only/>
*Manchester & Salford Bank, [[Mosley Street]] (1836)<ref name=PB89only/>
*Manchester & Salford Bank, 38-42 Mosley Street: now Williams & Glyn's and thus Royal Bank of Scotland
*Lancashire & Yorkshire Bank, 73,5 King Street: <ref name=PB93/>
*William Deacons Bank, 45 Mosley Street/ York Street: now Williams & Glyn's and thus Royal Bank of Scotland<ref name=PB175>{{Harvnb|Parkinson-Bailey|2000|p=175}}</ref>
 
==References==