|
 sp2At
the beginning of 1951, Martins Bank amalgamates with the British Mutual Bank,
and inherits just three outlets – London St James’s Street, The Cross-Channel
Banking Service on the Townsend Dover to Calais Ferry, and a Branch at 2 St
Bride Street London, known as Ludgate Circus Branch. Under the British Mutual Bank, the Branch
has been open since 1857. On his tour
of the country to bring us modern day images of Martins Bank’s branches, Dave Baldwin has snapped Ludgate
Circus for us – a branch for which there are unfortunately no period images
in Barclays’ collection of Martins photographs.
|
In Service: 1857 until
10 March 1978
(but see
also history at foot of page)
Image © Martins Bank
Archive Collections – with thanks to Grace’s Guide
Advertisement
re-mastered January 2022
|
|
 Today the branch is home to a world class
restaurant, which befits these lovely premises, and their origins as a branch
of the British Mutual Bank, then Martins Bank and later a Branch of
Barclays. No 2 St Bride Street is
particularly difficult to photograph, and Dave has taken this image in
extremely high quality from a distance. We have then zoomed in to obtain the
best view we can. So to our features
for Ludgate Circus Branch – The Spring 1951 issue of Martins Bank Magazine
carries a detailed article in which it welcomes the staff of the British
Mutual into the fold. There is also a
retirement feature for Mr Lowe, Manager of Ludgate Circus from 1957 to
1968. We are also most grateful to Don
Evans for supplying us with a photograph, believed to have been taken inside
the Branch, at Mr Lowe’s retirement party…
Our New Colleagues…
 IT
is not often that we hear of a bank amalgamation these days, and the last
fusion in Martins Bank took place as long ago as 1928, when the Bank of
Liverpool and Martins Ltd. amalgamated with the Lancashire and Yorkshire Bank
Ltd. It was, therefore, with
more than ordinary interest that we learned of the negotiations which have resulted in the acquisition of the British Mutual
Bank Ltd. The history of this bank is
interesting. In 1857 the British Mutual Investment Loan and Discount Company
Limited was incorporated, its objects being to receive or borrow money and to
grant loans but not to transact any business peculiar to a bank or an
Assurance Office. The Company was acquired
in 1869 by a new company called British Mutual Investment Company Limited,
whose objects were to transact the business of a Loan, Discount and Banking
Company. The first directors of this Company were the Rev. James Gillman,
Edgar Home, Henry Harben, J. Wilkinson, M. Hopgood, E. Chatfield and R.
Strange. The directors at the date of the amalgamation were: The Rt. Hon.
Lord Broughshane, k.b.e., d.l. (Chairman),
Sir Nigel Davidson, c.b.e. (Deputy
Chairman), Thomas J. Bond, f.c.a., E.
J. W. Borrajo, m.b.e., a.i.a., H. S. Lane, m.c., His Grace the Duke of Richmond
and Gordon. The General Manager was Mr. Cecil R. C. Marlow.
|
The
Ludgate Circus Staff is pictured here
at the
time of Martins Bank’s
amalgamation
with the
British
Mutual Bank in 1951.
(Mr
James is seated
front row, centre)
|
|
The name of the company was changed both in 1875 and 1877, and in
1882 it became the British Mutual Banking Company Limited, the title being
shortened to British Mutual Bank Limited in 1945. Since the Company first transacted banking business the
Prudential Assurance Company Limited have been represented on the Board of the Bank, although their shareholding has for many years been only a small
percentage of the Issued Capital.
 In 1950 the Bank opened its first branch
in St. James's Street and also opened the first cross-channel bank on the
Dover-Calais service. The Bank has built up a reputation for the skilled
personal service it gives to its customers, and the amalgamation with Martins
Bank will enable this policy to be continued. We feel sure that the
amalgamation is pleasing to the shareholders, the customers and the staff of
British Mutual Bank and should prove a valuable acquisition to Martins Bank
Limited. We visited the two London branches
on February 12th and 13th to make the acquaintance of our new colleagues and
we received a most cordial and friendly welcome from them all. We went to St.
James's Street first and the following
morning we visited Ludgate Circus office, where we were struck by the cordial
and happy spirit prevailing. Mr. James and his senior colleagues, Mr. Hunter,
Mr. Price and Mr. Geary, welcomed us and as in the case of the smaller branch
we were impressed by the attractive interior and the spaciousness of the
office. We regret that we did not have time to greet everyone personally as
our visit, made on the way to Maidstone, was limited by train times, but we
hope to call there again on some future occasion. In the meantime, on behalf of all our colleagues we would
like to express our good wishes to the members of the British Mutual Bank who
have now become one with us, and we shall look forward to meeting them at our
various social functions from time to time.
|
|
A Fleet
Street Farewell…
 manager at Ludgate Circus for the past
eleven years, Hubert Lowe's 43 years' service began at Middlesbrough and continued
in London District after his years with H.M. Forces. He was appointed Manager
at Holloway Road in 1950 and at Moorgate in 1954. At his own request no formal ceremony was
held but he invited some seventy colleagues to the Presscale Club in Fleet
Street on December 28. Unfortunately
Mrs Lowe was unable to attend owing to ill health but the good wishes of all
were expressed by sending her some flowering bulbs. Mr A. L. Watling (Pro
Manager), the only member of the branch who had served continuously with Mr
Lowe at Ludgate Circus, presented a set of matching travelling cases, a
cheque and a bound book of signatures.
|
Image © 1968 Martins
Bank Archive Collections: Don Evans
|
|
