Newcomen Bank

Last updated
Newcomen Bank
20130807 dublin033.JPG
Newcomen Bank
Interactive map of Newcomen Bank
General information
StatusOffice
TypeHouse
Architectural style Georgian
Neoclassical
Location Dublin, Ireland
Coordinates 53°20′38″N6°16′04″W / 53.3438702°N 6.2677291°W / 53.3438702; -6.2677291
Estimated completion1781
OwnerDublin City Council
Technical details
Material Portland stone
Floor count5 over basement
Design and construction
Architects Thomas Ivory and James Hoban (1781)
William Caldbeck (1856-62)
Developer Sir William Gleadowe-Newcomen, 1st Baronet

Newcomen Bank is a former Georgian bank building and private residence on the junction of Cork Hill, Lord Edward Street and Castle Street, designed by architect Thomas Ivory in 1781 with the assistance of James Hoban. [1] [2]

Contents

The bank itself was usually referred to as Newcomen's bank, Newcomen bank or Gleadowe-Newcomen's bank.

The building was constructed and named for the Newcomen family.

History

The banking business originated as Swift's bank at 17 Eustace Street (then number 22 Eustace Street), founded around 1722 by the merchant James Swift. [3] [4]

In 1742 the bank moved to Castle Street and by 1745 James Swift had died and the business was taken over by the new firm of Thomas Gleadowe & Company. In 1767, Thomas was succeeded by his son William Gleadowe. Five years later William had married an heiress, Charlotte Gleadowe-Newcomen, 1st Viscountess Newcomen and assumed the Newcomen name. [5]

After the business collapsed in 1825, the building was later acquired by the Hibernian bank out of bankruptcy. The Hibernian bank had been founded in April 1825 as a response to anti catholic discrimination by the Bank of Ireland and had its first premises at 81 Marlborough Street before moving to the old Newcomen bank building in 1831. The Hibernian bank was itself later taken over by the Bank of Ireland in 1958. [6] [7] [8] [9]

1820s Banking crash

By 1820, there were around 28 banks in Ireland. [10] Following the initial collapse of Stephen and James Roche's bank in Cork in May 1820 followed soon after by Leslie and Company also in Cork, started a generalised Irish banking crash and economic malaise which followed a deflationary period after the end of the Napoleonic wars. [11]

Newcomen bank as well as several other banks in the city of Dublin such as Sir William Alexander's bank also collapsed in the 1820s. [12] The Newcomen family and several other prominent families were financially ruined leading to Thomas Gleadowe-Newcomen, 2nd Viscount Newcomen shooting himself in his office either at the bank or at his residence at Killester House on 15 January 1825. [13] [14]

Building

The building was constructed as a private residence in a neo-classical Georgian style in 1781 and faced in white portland stone. It was located opposite some of Dublin's most notable buildings including the Royal Exchange, Dublin Castle, La Touche Bank and Benjamin Burton's Bank (1700-33) in what was then a prestigious location. [15] [16] [17]

Some of the interior stucco work was carried out by Vincent Waldré while the sculptor Simon Vierpyl was also involved in completing elements of the friezes throughout the building.

Further works were later carried out by William Caldbeck at the bank between 1856-62 doubling the Cork Hill bowed frontage and adding an Ionic portico also in matching portland stone. [18]

The northern end gable was added by Dublin Corporation architect Daniel J Freeman in 1884.

The bank was acquired by Dublin Corporation in 1886 and was later usually referred to as the rates office. [19] It remained in use as the rates office until the early 2000s.

As of 2023, it is planned to restore the building for use as a multipurpose events and conferencing space. [20] [21]

See also

References

  1. ↑ "CO. DUBLIN, DUBLIN, CASTLE STREET, NO. 016 (NEWCOMEN'S BANK) Dictionary of Irish Architects -". www.dia.ie. Retrieved 27 September 2023.
  2. ↑ "Dublin City Council, 16 Cork Hill, Castle Street/Lord Edward Street, Dublin 2, DUBLIN". Buildings of Ireland. Retrieved 19 October 2023.
  3. ↑ "Irish Theatre Institute, 17 Eustace Street, Dublin 2, DUBLIN". Buildings of Ireland. Retrieved 27 October 2023.
  4. ↑ "17 Eustace Street: A History" (PDF). irishtheatreinstitute.ie. Retrieved 27 October 2023.
  5. ↑ "Goldsmith banker". The Old Currency Exchange is a specialist dealer and valuer of Irish & GB coins, tokens and banknotes. Retrieved 27 October 2023.
  6. ↑ "CO. DUBLIN, DUBLIN, CASTLE STREET, NO. 016 (HIBERNIAN BANK, FORMERLY NEWCOMEN'S BANK) Dictionary of Irish Architects -". www.dia.ie. Retrieved 27 September 2023.
  7. ↑ "Dublin City Architects Blog — THE FORMER NEWCOMEN BANK (Dublin City Council Rates Office)" . Retrieved 27 September 2023.
  8. ↑ "JOURNAL ARTICLE Wildcat bankers or political failure? The Irish financial pantomime, 1797–1826". academic.oup.com. Retrieved 27 September 2023.
  9. ↑ Barrow, G. L. (1972). "Some Dublin Private Banks". Dublin Historical Record. 25 (2): 38–53. JSTOR   30104373 . Retrieved 24 October 2023.
  10. ↑ "Introduction to Irish Paper Money Issues ca1670 - 2001". www.irishpapermoney.com. Retrieved 9 December 2025.
  11. ↑ mclaughlin, eoin. "Black Thursday: When TWO Cork city banks failed" (PDF). www.eoinmclaughlin.ie. Retrieved 9 December 2025.
  12. ↑ "Alexander, Sir William". www.dib.ie. Retrieved 9 December 2025.
  13. ↑ Dungan, Myles (15 January 2016). "On This Day – Drivetime – 15.1.1825 Suicide of banker Thomas Newcomen". Myles Dungan. Retrieved 24 October 2023.
  14. ↑ "The lonely Thomas Gleadowe-Newcomen". Come Here To Me!. 19 November 2012. Retrieved 24 October 2023.
  15. ↑ "Dublin City Architects Blog — THE FORMER NEWCOMEN BANK (Dublin City Council Rates Office)" . Retrieved 19 October 2023.
  16. ↑ "1730s – La Touche Bank, Cork Hill, Dublin | Archiseek - Irish Architecture". 9 June 2012. Retrieved 19 October 2023.
  17. ↑ "Burton, Benjamin | Dictionary of Irish Biography". www.dib.ie. Retrieved 27 October 2023.
  18. ↑ "Dublin City Council, 16 Cork Hill, Castle Street/Lord Edward Street, Dublin 2, DUBLIN". Buildings of Ireland. Retrieved 24 October 2023.
  19. ↑ "Plans for €9m redevelopment of historic Newcomen Bank in Dublin". Independent.ie. 18 August 2023. Retrieved 27 September 2023.
  20. ↑ "Newcomen Bank | Dublin City Council". www.dublincity.ie. 17 August 2023. Retrieved 24 October 2023.
  21. ↑ "Howley Hayes Cooney". www.hhcarchitecture.ie. Retrieved 24 October 2023.
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