Llanelly Bank
Encyclopedia
History
Little is known about the history of Llanelly Bank. However, the House of LordsHouse of Lords
The House of Lords is the upper house of the Parliament of the United Kingdom. Like the House of Commons, it meets in the Palace of Westminster....
Sessional Papers, of 1801-1833, record that the bank’s licence was renewed in 1812, and that the licence was granted to Richard Pemberton, the Elder of Barnes, Durham
Durham
Durham is a city in north east England. It is within the County Durham local government district, and is the county town of the larger ceremonial county...
, Ralph Stephen Pemberton of Llanelli, Carmarthenshire
Carmarthenshire
Carmarthenshire is a unitary authority in the south west of Wales and one of thirteen historic counties. It is the 3rd largest in Wales. Its three largest towns are Llanelli, Carmarthen and Ammanford...
, and Richard Pemberton, the Younger of Castle Street, Holborn
Holborn
Holborn is an area of Central London. Holborn is also the name of the area's principal east-west street, running as High Holborn from St Giles's High Street to Gray's Inn Road and then on to Holborn Viaduct...
, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
.
By 1822, the bank appeared to be a branch
Branch (banking)
A branch, banking center or financial center is a retail location where a bank, credit union, or other financial institution offers a wide array of face-to-face and automated services to its customers....
or subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
enterprise of ‘Swansea Bank, Glamorganshire’ because, by then, both banks were run by the same partnership
Partnership
A partnership is an arrangement where parties agree to cooperate to advance their mutual interests.Since humans are social beings, partnerships between individuals, businesses, interest-based organizations, schools, governments, and varied combinations thereof, have always been and remain commonplace...
, known as ‘Haynes, Day, Haynes and Lawrence’
George Haynes
George Haynes , British entrepreneur, pottery manufacturer, banker, and newspaper proprietor of Swansea, Wales-Early career:Haynes was born in 1745 to a Quaker family with its origins in Henley-in-Arden, Warwickshire, although his exact place of birth and continuing religious affiliations are...
.
The bank appears to have closed by 1830, as no mention is made of it, or any other bank in Llanelli, in Pigot & Co’s ‘Commercial Directory’ for that year.
Bank notes
Up to 1916, there appeared to be only one Llanelly Bank note in existence, for the sum £1 1s. All enquiries at that time failed to reveal any further notes, or information, regarding the history of the bank. However, a number of Llanelly Bank notes have come up for auction:- In 2006, Spink and Son auctioned a very fine, and rare, £1 note with serial number 660, dated 10 March 1825. This bank note was in black and white, with a classicalClassical architectureClassical architecture is a mode of architecture employing vocabulary derived in part from the Greek and Roman architecture of classical antiquity, enriched by classicizing architectural practice in Europe since the Renaissance...
friezeFriezethumb|267px|Frieze of the [[Tower of the Winds]], AthensIn architecture the frieze is the wide central section part of an entablature and may be plain in the Ionic or Doric order, or decorated with bas-reliefs. Even when neither columns nor pilasters are expressed, on an astylar wall it lies upon...
in the centre and initials top left in an oval frame, with the value low left. It was printed for Day, Haynes and Lawrence.
- In 2000, Philips auctioned a Llanelly Bank note dated 1823, having a frieze at the centre and a seated woman with an anchor at the top. The note has bankruptcy stamps on either side. The bankruptcy stamps appear to confirm that the bank went out of business prior to 1830.
Other Carmarthenshire banks
Other Carmarthenshire banks include: Carmarthen Furnace BankCarmarthen Furnace Bank
This is a bank established in Carmarthenshire in the 18th century as a result of the efforts of a Welsh entrepreneur and businessman called John Morgan. The banking business started by issuing tokens to facilitate an iron and tin works operation and then developed into a full-fledged bank...
, Carmarthen Bank
Carmarthen Bank
This was a bank that was established in, and operated in, Carmarthenshire during the 19th century. It became bankrupt in 1832 and its name was then adopted by another Carmarthenshire based bank.-History:...
, Llandovery Bank
Llandovery Bank
The Llandovery Bank was established in Llandovery in 1799 in the premises known as the King’s Head on Stone Street , where it remained for many years...
, Marten & Co., David Morris & Sons
David Morris & Sons
David Morris & Sons was a bank which was established in Carmarthenshire, Wales in the 18th century. It now a constituent part of The Royal Bank of Scotland Group.-History:...
, and Wilkins & Co.