| Code | DS/UK/88 |
| Corporate Name | Bank of England Newcastle Branch |
| Dates | 1828 - 1997 |
| Activity | The possibility of a branch in Newcastle was first discussed in May 1827 and opened for business on 21 April 1828 in premises on the corner of Clavering Place and Bailey Gate. The month before, Newcastle's new Chamber of Commerce had petitioned the Bank to 'abstain from trying the experiment' of a branch on Tyneside. The first Agent was George Carr and Timothy Cutforth was appointed Sub-Agent although he died the next year and was replaced by Henry John Dorrien.
In 1834, the Newcastle Branch was reported to be 'much in debt and gradually growing worse'. Local hostility and the inconvenient location of the premises were blamed for this initial failure. During its early years the dampness of the branch premises caused damage to its stock of notes, dead cats and refuse were thrown over the wall and the neighbourhood children were so troublesome that an old woman had to be employed at 1s a week to drive them away from the doorstep. The locals weren't the only problem. In 1834 the Agent complained that Messrs Ridley & Co gave unnecessary trouble to the Bank by sending 'poor persons with London Notes and Post Bills in order to demand gold'. In 1835 Joseph Grote was appointed Sub Agent in place of H J Dorrien, who moved as Agent to Swansea, but matters still did not improve and in April 1836 the Agent, George Carr, resigned and was succeeded by Mr Grote. It was then decided to acquire new premises for the branch. An initial offer for premises in Pilgrim Street was rejected, after which the Directors approved a proposal by the Bank's architect, Mr Cockerell, that ground should be purchased and a purpose-built Branch Bank erected in the 'new street' being planned at the time by Mr Grainger (and later named Grey Street). The new building, the first purpose-built branch of the Bank of England, was erected between 1837 and 1838 and towards the end of that year the business of the Branch moved to Grey Street and the old premises were sold. After Mr Grote's appointment there was a great improvement in the amount of business done by the Branch and in March 1838 the Principal of the Branch Banks Office reported that the Branch was 'very satisfactory in all respects' and the adverse balance was quickly disappearing. Progress continued and as a result of the increased business a house adjoining the branch, which had been occupied by the Northumberland and Durham District Bank, was purchased in 1840 and incorporated into the Bank premises.
The branch stayed in Grey Street until 1971, when it was decided to move to Pilgrim Street. After the decision to close the Bank's branches with the exception of Leeds in late 1997, bank note operations at Newcastle ceased on 6 June after 169 years, although the branch continued to deal with Scottish banks until 20 June. The branch was formerly closed on 31 October and became the new North East and Cumbria Agency, which was initially based in the Pilgrim Street premises of the former branch. In May 1998, the Agency moved across the road to offices on the first floor of Alderman Fenwick's House, 98-100 Pilgrim Street, dating back to the 1600s. The purpose-built Pilgrim Street site was sold by the Bank in late 1990s/early 2000s.
In April 2008, the Newcastle Agency left 98-100 Pilgrim Street and moved to The Dobson Building, Prestwick Park, Newcastle, NE20 9SJ. |
| Source | Second paragraph taken from 'The Old Lady', Nov 1973. |
Show related catalogue records