Bank of South Australia (1837)

Last updated

The first Bank of South Australia was founded by the South Australian Company in 1837 and became defunct in 1892.

The South Australian Company was formed in London on 9 October 1835, after lobbying by the South Australian Association. The founding board, headed by George Fife Angas, consisted of wealthy British merchants in order to develop a new settlement in South Australia; its purpose was to build a new colony by meeting an essential financial obligation of the South Australia Act 1834.

Contents

It was essentially a British venture, closely supervised by British directors, but utilizing the knowledge and advice of local managers in South Australia. [1]

From 1840, it was associated with or a subsidiary of the South Australian Banking Company. From 1868, there was only one body, the Bank of South Australia. [2]

Foundation

Officers:

Edward Stephens (Australian settler) Australian businessperson

Edward Stephens was one of the earliest settlers in the Colony of South Australia.

Board of Directors: [3]

George Fife Angas Australian politician

George Fife Angas was an English businessman and banker who, from England, played a significant part in the formation and establishment of the Province of South Australia. He established the South Australian Company and was its founding chairman of the board of directors. In later life he migrated to the colony and served as a member of the first South Australian Legislative Council. His financial contribution of some £40,000 was instrumental to the creation of South Australia.

Raikes Currie was Member of Parliament (MP) for Northampton from 1837 to 1857. He was a partner of the bank Curries & Co, along with his father, Isaac Currie, in Cornhill, City of London, and had several interests in the newly developing colony of South Australia. He restored Minley Manor and made substantial improvements to the estate, work which was continued by his son and grandson.

Charles Hindley (politician) British politician

Charles Hindley was an English cotton mill-owner and Radical politician who sat as Member of Parliament for Ashton-under-Lyne, Lancashire from 1835 until his death in 1857. He was active in the Factory Reform movement, in the opposition to the New Poor Law, and in opposition to state involvement in religious and educational matters, but was rarely prominent in them, being more sought after as a chairman of meetings than as a speaker at them, and too inclined to moderation and compromise to be accepted as a reliable leader. He was the first member of the Moravian Church to be a British member of parliament. A portrait of Hindley is in the collection of the National Portrait Gallery, London

Managers

(later occasionally titled "Colonial Manager" – South Australian Company title or to distinguish from branch managers?)

Thomas Drury Smeaton

Thomas Drury Smeaton trained in England as an engineer, emigrated to the British colony of South Australia, where he was known as a banker and amateur scientist.

In 1892, under pressure of falling share values, and following collapse of banks in Victoria, the Bank of South Australia was taken over by the Union Bank of Australia. [7]

Related Research Articles

William Giles (colonial manager) Australian businessperson and politician

William Giles, occasionally referred to as William Giles, sen. to distinguish him from his eldest son, was the third colonial manager of the South Australian Company, and a South Australian politician, who was prominent in the founding of the colony of South Australia.

Thomas Hardy (winemaker) Australian winemaker

Thomas Hardy was a winemaker in the McLaren Vale, South Australia. He has been called the "Father of the South Australian Wine Industry".

English, Scottish and Australian Bank bank in the United Kingdom and Australia

The English, Scottish & Australian Bank Limited was an Australian bank founded in 1852 by Royal Charter in London and named English, Scottish and Australian Chartered Bank. Following a financial reconstruction in 1893 its business was renamed English, Scottish and Australian Bank Limited.

David McLaren (colonial manager) British accountant

David McLaren was a Scottish accountant and lay preacher who served as Resident Manager of the South Australian Company for the Colony of South Australia from 1837 to 1841.

Union Bank of Australia former banking company in Australia and New Zealand

The Union Bank of Australia was an Australian bank in operation from 1837 to 1951.

E. J. Woods architect

Edward John Woods F.R.I.B.A. was a prominent architect in the early days of South Australia.

Henry Mildred Australian farmer and politician

Henry Richard Mildred was a politician in the early days of the Colony of South Australia.

Thomas Hyland Smeaton Australian politician

Thomas Hyland Smeaton was an Australian politician and trade unionist. He was a member of the South Australian House of Assembly from 1905 to 1921, representing the electorates of Torrens (1905-1915) and Sturt (1915-1921). He was a member of the Labor Party until being expelled in the 1917 Labor split over conscription, and represented the splinter National Party until he left parliament.

Henry Simpson, often referred to as "Captain Simpson", was a ship's captain, ship owner and businessman in South Australia.

At least nine ships were employed by the South Australian Company in 1836 to carry its staff and the first European settlers from England to the south coast of Australia for the establishment of the City of Adelaide and the province of South Australia.

John Moule (politician) Australian politician

John Moule was a wheat merchant and politician in the colony of South Australia.

William Rodolph Wigley was a lawyer and politician in the British colony of South Australia.

Arthur Onslow Whitington, generally known as A. O. Whitington or simply "A.O.", was a businessman and sportsman in South Australia, the highly regarded founding secretary of the revived South Australian Jockey Club, serving from 1888 to 1919.

Adelaide Jubilee International Exhibition

The Adelaide International Jubilee Exhibition of 1887 was a celebration of the 50th anniversary of Queen Victoria's accession to the throne on 20 June 1837, held in Adelaide, South Australia in 1887. It was also a celebration of the 50th anniversary of the Proclamation of South Australia which occurred around six months earlier, on 28 December 1886.

Corporate Town of Burra former local government area of South Australia

The Corporate Town of Burra was a local government area in South Australia from 1876 to 1969.

Richard Francis Newland was a banker and politician in the colony of South Australia, appointed as an acting non-official member of the Legislative Council of South Australia, serving from January 1847 to July 1847.

Thomas Gill CMG ISO was a public servant in South Australia who served as Under-Treasurer from 1894 to 1920.

South Australian Literary Societies' Union (1883–1926) was a peak or advocacy organization of literary societies in South Australia. It organised competitions between the member societies and established a "Union Parliament" to debate issues of the day. In 1932 a similar organization named Literary Societies' Union of South Australia was founded.

References

  1. ↑ Holder, R. F., (1970, Bank of New South Wales; a history, Vol One: 1817-1893, Sydney, Angus & Robertson, p.101. ISBN   0207953627
  2. ↑ "COMMERCIAL AND MONEY MARKET". The South Australian Advertiser . Adelaide. 14 April 1868. p. 3. Retrieved 29 November 2015– via National Library of Australia.
  3. ↑ "Advertising". Southern Australian . Adelaide. 9 June 1838. p. 1. Retrieved 29 November 2015– via National Library of Australia.
  4. ↑ "The Late Mr. T. D. Smeaton". The Register . Adelaide. 19 February 1908. p. 5. Retrieved 29 November 2015– via National Library of Australia.
  5. ↑ "OBITUARY". South Australian Register . Adelaide. 12 January 1897. p. 3. Retrieved 29 November 2015– via National Library of Australia.
  6. ↑ "Death of Mr. Vipont Howgate". The Express and Telegraph . Adelaide. 18 December 1886. p. 2. Retrieved 29 November 2015– via National Library of Australia.
  7. ↑ "Collapse of the Bank of South Australia". Port Adelaide News and Lefevre's Peninsula Advertiser . SA. 22 April 1892. p. 3. Retrieved 29 November 2015– via National Library of Australia.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.