Scottish Banking(part 13)

....at Paisley only the year previous, having
commenced there on 1st October 1783. Up till
 that time all the The banking business of Paisley
 was transacted in Glasgow.

The next private bank which placed a branch in
Glasgow was Messrs. Dunlop, Houston, Gammell,&
Co.,bankers in Greenock,better known as the
 " Greenock Bank." They did so on Thursday, 28th
 July 1785. The bank commenced in Greenock on
 the previous Monday.

The Greenock Bank transacted a large business.
Besides Glasgow, they had branches at Rothesay,
Lochgilphead, etc., and an extensive and influential
connection with the West Highlands. They had also
a large circulation in Cumberland, Westmorland, and
the Isle of Man, and for many years were the Govern-
ment bank in Greenock, for receiving and remitting
to London the customs and other branches of the
public revenue.

On Sunday, 9th March 1828, the bank was robbed
of £28,350 by English thieves. One of them, named
Henry Saunders, was tried, but acquitted in September
following. Most of the money stolen was, however,
recovered afterwards.

(£28,350-TODAY = £2,310,000)

http://www.bankofengland.co.uk/education/inflation/calculator/flash/index.htm

More to follow............

Scottish Banking(part 6)

Scots Magazine, May 1756 (p.249)-

Two gentlemen from Edinburgh, with an agent,
etc., made considerable demands on the two
banks at Glasgow (Ship and Glasgow Arms)
 May 31 st and June 1st, 2nd, and 3rd.
 A protest was taken against the old bank (Ship),
that of Messrs. Dunlop,Houston,& Company,for non-
payment of £976 and £7000. Payment was offered of
the £976, in notes of the two banks of Edinburgh,but
refused and specie insisted for.

The gentlemen who demanded the £7000 were told
by the cashier that the Company’s notes were always
 paid at ordinary hours; but that so large a demand,
 after the ordinary time of doing business for the
forenoon was over-i.e.after twelve o’clock—-he did
not think proper,without previously advertising the
 Company, to pay till four o’clock afternoon ; and
they were desired to come back at that hour, when
 all the notes would be paid. Attendance was given
 at the banking office from~three o’clock afternoon
 till near five; and as the Edinburgh gentlemen
did not call as desired, an attorney was sent to their
lodgings. The principal person was gone out of town;
but the other, who was his agent or doer,was found on
the street,and required to repair to the banking office,
to receive payment of the sum demanded, the Com-
pany being always ready to pay their notes at proper
hours, in gold and silver, and Edinburgh bank-notes.


N .B .-The Edinburgh notes offered were those of the
Royal Bank, which were ''refused."



More to follow...........