Personal Recollections of Birmingham And Birmingham Men
Personal Recollections of Birmingham And Birmingham Men
Edwards Eliezer
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Keep, W. Middlemore, C. H. Wagner, and W. A. Adams were directors. The capital, to the required extent, was eagerlysubscribed. Mr. Joseph Beattie, of London, was appointed manager, and the bank opened its doors, in Temple Row West, on New Tear's Day, 1862. The directors, at their preliminary meetings, had come to some verywise resolutions, having for their tendency the creation of publicconfidence in the good management and complete stability of the newventure. One of these was that no one of t...he directors could at anytime, or under any circumstances, overdraw his account at the bank. Recollections of what had been done aforetime showed the publicthe wisdom of this step, and the shares became consequently in gooddemand, and soon reached a fair premium. The directors, with greatjudgment, had made a large reserve of unallotted shares, and nowthat they had become a popular investment, they offered them to largetraders at par, on condition of their opening accounts at the newbank. Other inducements were held out to attract business, and in avery short time the bank was doing at least as large a business assome of its competitors.
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