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Bank of Liverpool

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One of the more curious aspects of Banking in the early part of the twentieth century is “Cattle Trade Banking”, a pioneering method of moving money quickly in connection with the buying and selling of cattle. Based on little more more trust than is perhaps advisable, it does become both successful AND profitable.

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Image © Barclays 1932

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Image © BT 1938

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The safety concerns alone would make such transactions unthinkable today, and thankfully impossible, due to the replacement of huge pockets full of cash by more modern payment methods! By the time of the merger with Barclays, Martins Bank still has many cattle market, or auction mart sub Branches.  Some of them even survive into the twenty-first century.  The way it all begins for Martins is written in the following essay by John Mashiter, (pictured, below right) who at time of writing – 1948 - is Manager of Martins Bank’s SKIPTON Branch.  Here he describes the birth of perhaps the most important of the Bank’s Cattle Market Branches – Birkenhead Woodside.

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E Reed & Sons and The Cattle Trade Bank Ltd.

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1947  to 1969 Mr John Mashiter Manager MBM-Sp69P551948 03 MBM.jpgE. Reed & Sons originated in 1863 not as bankers but as dealers in the big import cattle markets of the north-west of England. Branches were established in the markets at Salford, Wakefield and Liverpool.  About 1875 the partners became alive to the need for some form of credit finance in the markets in which they dealt and they evolved a system of banking which, although quite unorthodox, proved most successful and brought them good profits.

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1922 L & Y Cattle Market Agencies CP.jpgThe large operators who collected the herds of cattle and brought them to the market for sale were enabled to draw at once the proceeds of each day's sales, leaving it to E. Reed and Sons to recoup themselves from the individual purchasers of cattle. By 1911, Birkenhead had become the principal port of entry for the great herds of Irish beef cattle sold in this country and in that year E. Reed and Sons established a branch in the Birkenhead Lairage, which commenced business on 1st January, 1912. 

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1946 to 1955 Mr D S Burrow Manager MBM-Wi55P45.jpg

Mr D S Burrow

Manager 1946-55

The successful business which resulted was purchased in 1920 by the promoters of the Cattle Trade Bank Ltd.  In October, 1924, the surviving partner of the firm of E. Reed and Sons commenced negotiations with the Bank of Liverpool and Martins Ltd., and in the following year the latter purchased what remained of the business. Early in 1920, a syndicate of interested gentlemen decided to purchase the Birkenhead branch of E. Reed and Sons with a view to the incorporation of a limited liability company to carry on the cattle finance business of the branch.

 

The surviving partner of E. Reed and Sons, Mr. Charles H. Reed, was elected to the Board of the new company which commenced business on May 27th, 1920, in the premises at the Ferry Approach, Chester Street, Woodside, Birkenhead. As time went on the Bank extended its business but progress naturally was limited by the amount of the cattle trade which could be handled by the Woodside Lairage, although the Bank did accept customers not connected with the Market.

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The nominal Capital was £100,000 in £1 shares of which 62,800 were subscribed. A few shares were paid up, the remainder having 10/- at call and the paid-up capital totalled £32,900. The history of the bank was uneventful and it was taken over on August 28th, 1923, by the Bank of Liverpool and Martins Ltd.

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1923 to 1938  Mr J O Hughes joined here - limited authority 1928 - pro manager 1935 MBM-Au52P50.jpg

1928 to 1946 Mr John Currie Manager MBM-Su46P17.jpg

1932 to 1934 Mr T A Samuel Pro Manager MBM-Sp47P28.jpg

1937 to 1938 Mr F J Clee MBM-Wi65P06.jpg

1941 to 1942 Mr S Squirrell joined the bank here MBM-Su67P06.jpg

1942 to 1964 Mr S N Abraham Pro Manager MBM-Su64P53.jpg

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Mr J O Hughes Joined the bank here 1923-38

Limited Authority 1928

Pro Manager 1935

Mr John Currie

Manager

1928 to 1946

Mr T A Samuel

Pro Manager

1932 to 1934

Mr F J Clee

On the Staff

1937 to 1938

Mr S Squirrell

Joined the Bank Here

1941 to 1942

Mr S N Abraham

Pro Manager

1942 to 1964

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1946 to 1955 Mr D S Burrow Manager CU MBM-Wi55P45.jpg

1955 to 1964 Mr A L D Carson Manager MBM-Su64P04.jpg

BW Logo

BW Logo

BW Logo

BW Logo

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Mr D S Burrow

Manager

1946 to 1955

Mr L D Carson

Manager

1955 to 1964

 

 

 

 

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Title:

Type:

Address:

Index Number and District:

Hours:

Telephone:

Services:

Manager:

11-078 Birkenhead Woodside Cattle Trade Branch

Sub to 11-078 Birkenhead Hamilton Square

Woodside Lairage Ferry Approach Birkenhead Cheshire

005 Liverpool

Non standard to fit trading days and times

Birkenhead 557

No Nightsafe Installed

Mr L D Carson Manager (1964)

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27 May 1920

1 February 1925

3 January 1928

1964

Opened by E Reed and Sons

Bank of Liverpool and Martins

Martins Bank Limited

Closed

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