Page 1
361© The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG 2018 B. O’Sullivan, From Crisis to Crisis, Palgrave Studies in the History of Finance, https://doi.org/10.1007/978-3-319-96698-4
Appendix
profiles of the British MerchAnt BAnks operAting Between 1914 And 1939
An attempt has been made to identify as many merchant banks as possible operating in the period from 1914 to 1939, and to provide a brief profile of the origins and main developments of each firm, includ-ing failures and amalgamations. While information has been gathered from a variety of sources, the Bankers’ Return to the Inland Revenue published in the London Gazette between 1914 and 1939 has been an excellent source. Some of these firms are well-known, whereas many have been long-forgotten. It has been important to this work that a comprehensive picture of the merchant banking sector in the period 1914–1939 has been obtained. Therefore, significant efforts have been made to recover as much information as possible about lost firms. This listing shows that the merchant banking sector was far from being a homogeneous group. While there were many firms that failed during this period, there were also a number of new entrants. The nature of mer-chant banking also evolved as stockbroking firms and issuing houses became known as merchant banks. The period from 1914 to the late 1930s was one of significant change for the sector.
Page 2
362 APPENdIx
Firm
Profi
le
T. H
. Alla
n &
Co.
17 G
race
chur
ch S
t.,
Lon
don,
EC
1874
to
1932
Eas
t In
dia
Age
nt. d
escr
ibed
in a
dver
tisem
ent
in 1
928
as “
Cof
fee
Impo
rter
s si
nce
1874
”, o
ffer
ing
“Lib
eral
Adv
ance
s gi
ven
agai
nst
cons
ignm
ents
”.1 T
he fi
rm h
ad a
n ag
ent
in K
enya
in 1
9292
File
d B
anke
rs’ R
etur
ns b
etw
een
1914
and
193
2.3 P
rinc
ipal
s de
scri
bed
as M
erch
ant
Ban
kers
in 1
932
retu
rn. d
ecla
red
bank
rupt
in N
ovem
ber
1932
with
the
firm
des
crib
ed a
s M
erch
ants
and
Pla
nter
s4
Arb
uthn
ot,L
atha
m &
Co.
To 1
929:
33 &
34
Gre
at S
t H
elen
’s,
Lon
don,
EC
From
192
9:9
St. H
elen
’s P
lace
Lon
don,
EC
1833
to
1981
Foun
ded
in 1
833
as A
rbut
hnot
& L
atha
m. I
n 18
61 A
lfred
Lat
ham
bec
omes
Gov
erno
r of
the
Ban
k of
Eng
land
In 1
891
Con
solid
ated
Est
ates
Com
pany
form
ed t
o m
anag
e th
e fir
m’s
Cey
lone
se a
nd I
ndia
n in
ter-
ests
. The
firm
’s c
hief
mar
ket
was
Ind
ia, b
ut it
als
o tr
aded
in t
he W
est
Indi
es a
nd C
entr
al A
mer
ica5
In 1
921
Arb
uthn
ot, L
atha
m &
Co
conv
erts
to
a lim
ited
liabi
lity
com
pany
. The
gro
unds
giv
en w
ere
“fam
ily r
easo
ns”,
whi
ch s
eem
to
be t
he a
bsen
ce o
f son
s to
con
tinue
par
tner
ship
6
In 1
944
John
K. G
illia
t &
Co
was
acq
uire
d.7 I
n 19
81 t
he fi
rm w
as a
cqui
red
by d
ow S
kand
ia
Ban
king
Gro
up8
In 2
005
the
Arb
uthn
ot n
ame
resu
rfac
ed a
s th
e A
rbut
hnot
Ban
king
Gro
up, w
hich
can
tra
ce it
s ro
ots
to A
rbut
hnot
Lat
ham
& C
o. L
td.
Bal
four
, Will
iam
son
&
Com
pany
7 G
race
chur
ch S
tree
t,L
ondo
n, E
C
1851
to
1960
Foun
ded
in L
iver
pool
by
Scot
tish
trad
ers
in 1
851.
Ini
tially
ass
ocia
ted
with
the
Chi
lean
tra
de, l
ater
ex
tend
ed t
o C
alifo
rnia
. Inv
olve
d in
frui
t an
d gr
ain
trad
eT
he S
outh
Am
eric
an o
pera
tion
was
und
erta
ken
from
186
3 by
Will
iam
son,
Bal
four
& C
o. in
V
alpa
rais
o, C
hile
.9 In
1869
a p
artn
ersh
ip w
as fo
rmed
in t
he U
SA c
alle
d B
alfo
ur, G
uthr
ie &
Co.
10
In 1
960
it w
as a
cqui
red
by t
he B
ank
of L
ondo
n &
Sou
th A
mer
ica,
whi
ch h
ad b
een
a su
bsid
iary
of
Llo
yds
Ban
k si
nce
1918
11
(con
tinue
d)
Page 3
APPENdIx 363
Firm
Profi
le
J. L
ione
l, B
arbe
r an
d C
o. L
td.
(Ban
king
Hou
se)
5 L
othb
ury
Lon
don,
EC
2(C
omm
erci
al H
ouse
and
Hea
d of
fice)
411
Tow
er B
uild
ing,
Liv
erpo
ol
c.19
10–1
921
J. L
ione
l Bar
ber
chai
red
the
Lam
pa M
inin
g C
o.—
a si
lver
min
ing
com
pany
reg
iste
red
in L
iver
pool
in
190
6. H
e fo
rmed
the
Cor
ocor
o U
nite
d C
oppe
r M
ines
in 1
909,
whi
ch o
pera
ted
prop
ertie
s in
B
oliv
ia.12
In
1912
the
firm
was
tak
en o
ver
as a
goi
ng c
once
rn b
y a
Liv
erpo
ol-b
ased
com
pany
with
th
e in
ject
ion
of £
100,
000.
J. L
ione
l Bar
ber
beca
me
“per
man
ent
gove
rnin
g di
rect
or”13
The
firm
had
par
tner
ship
s in
Chi
le, P
eru
and
Bra
zil a
s w
ell a
s a
Nor
th A
mer
ican
hou
se c
alle
d B
arbe
r, W
illia
ms
& C
o. I
nc. b
ased
in N
ew Y
ork14
One
of t
he fi
rm’s
man
ager
s co
nduc
ted
a fr
aud
in 1
920
invo
lvin
g bi
lls in
exc
ess
of £
60,0
00.
Prob
ably
as
a re
sult,
the
firm
sus
pend
ed p
aym
ents
on
5 M
arch
192
115
Bar
ing
Bro
ther
s &
Co.
Ltd
.8
Bis
hops
gate
,L
ondo
n, E
C
1762
to
1995
Est
ablis
hed
in L
ondo
n in
176
2 as
Joh
n &
Fra
ncis
Bar
ing
& C
o. a
s ag
ents
for
the
fam
ily m
erch
ant
busi
ness
in E
xete
r. In
180
1 it
was
ren
amed
Sir
Fra
ncis
Bar
ing
& C
o.T
he fi
rm b
ecam
e a
maj
or m
erch
ant
bank
ing
hous
e es
peci
ally
in s
over
eign
bon
d is
sues
. In
1890
it
suff
ered
a li
quid
ity c
risi
s an
d w
as r
escu
ed b
y a
Ban
k of
Eng
land
loan
gua
rant
eed
by o
ther
ban
ks. I
t w
as r
econ
stitu
ted
as B
arin
g B
roth
ers
& C
o. L
td.
It b
ecam
e in
solv
ent
in 1
995
beca
use
of a
rog
ue t
rade
r ca
lled
Nic
k L
eeso
n em
ploy
ed in
Sin
gapo
re.
Con
sequ
ently
, the
com
pany
was
acq
uire
d fo
r a
nom
inal
sum
by
ING
Gro
up o
f the
Net
herl
ands
16
Tho
mas
Bar
low
& B
roth
erC
eylo
n H
ouse
,49
& 5
1 E
astc
heap
,L
ondo
n, E
CO
ffice
s in
Man
ches
ter,
Cal
cutt
a (u
ntil
1936
), S
hang
hai
(unt
il 19
37),
Sin
gapo
re a
nd
Kua
la L
umpu
r. In
194
9 on
ly
Lon
don
and
Man
ches
ter
addr
esse
s
1863
to
1979
Foun
ded
in 1
863
by T
hom
as B
arlo
w a
s an
exp
orte
r of
cot
ton
good
s17
In t
he la
te 1
880s
, the
firm
fina
nced
tea
est
ates
and
acq
uire
d se
vera
l tea
est
ates
in C
eylo
n an
d A
ssam
. In
the
late
189
0s t
he fi
rm s
hift
ed t
o th
e cu
ltiva
tion
of r
ubbe
r, flo
atin
g th
e H
ighl
ands
& L
owla
nds
Para
Rub
ber
Co.
Ltd
. in
1906
. The
firm
too
k th
e ro
le a
s co
mpa
ny s
ecre
tari
es a
nd s
ellin
g ag
ents
fo
r a
num
ber
of p
lant
atio
n co
mpa
nies
in L
ondo
n w
hile
the
Far
Eas
tern
offi
ces
acte
d as
man
agin
g ag
ents
18
The
firm
was
incl
uded
in B
anke
r’s
Ret
urn
from
193
3 to
193
8 on
lyIn
196
5 it
mer
ged
with
one
of i
ts r
ival
s, B
oust
eads
. By
1979
the
firm
had
bec
ome
an in
vest
men
t ho
ldin
g co
mpa
ny, h
avin
g ef
fect
ivel
y di
vest
ed it
s ph
ysic
al a
sset
s du
e to
loca
l Mal
aysi
an d
eman
ds fo
r re
patr
iatio
n of
est
ate
asse
ts19
(con
tinue
d)
(con
tinue
d)
Page 4
364 APPENdIx
Firm
Profi
le
Bar
nato
Bro
ther
s10
& 1
1 A
ustin
Fri
ars,
Lon
don,
EC
1880
to
1919
In 1
880
Bar
ney
Bar
nato
est
ablis
hed
the
firm
of B
arna
to B
roth
ers
as d
iam
ond
brok
ers
and
mer
chan
t ba
nker
s. A
fter
the
Fir
st W
orld
War
the
firm
inve
sted
in r
esta
uran
ts, a
bre
wer
y, c
otto
n m
anuf
actu
r-in
g an
d th
e L
ondo
n U
nder
grou
nd20
Aft
er a
dis
pute
ove
r th
e w
ills
of fo
rmer
par
tner
s in
191
9, t
he p
artn
ersh
ip w
as d
isso
lved
, and
a p
riva
te
limite
d co
mpa
ny fo
rmed
21
The
priv
ate
com
pany
had
ext
ensiv
e op
erat
ions
in m
inin
g in
vest
men
t with
Ang
lo-A
mer
ican
Inv
estm
ent
Tru
st a
nd d
e B
eers
Con
solid
ated
Min
es. I
t lat
er b
ecam
e a
who
lly-o
wne
d su
bsid
iary
of J
ohan
nesb
urg
Con
solid
ated
Inv
estm
ent C
ompa
ny, w
hich
was
also
foun
ded
in 1
889
by B
arne
y B
arna
toR
ober
t B
enso
n &
Co.
31 B
isho
psga
te,
Lon
don,
EC
From
Nov
. 191
5:26
Old
Bro
ad S
tree
t,L
ondo
n, E
C22
1852
to
1961
The
Ben
son
fam
ily e
stab
lishe
d as
tex
tile
mer
chan
ts in
Liv
erpo
ol in
the
178
0s. T
he b
usin
ess
mov
ed
to L
ondo
n in
185
2, b
ecom
ing
a m
erch
ant
bank
. It
was
clo
sely
con
nect
ed w
ith r
ailr
oad
finan
ce
in t
he U
SA in
the
late
nin
etee
nth
cent
ury.
Mem
ber
of t
he I
nter
natio
nal F
inan
cial
Soc
iety
issu
ing
cons
ortiu
m in
186
3.23
Con
vert
ed in
to a
pri
vate
lim
ited
com
pany
in 1
92624
In 1
947
it m
erge
d w
ith L
onsd
ale
Inve
stm
ent
Tru
st t
o be
com
e R
ober
t B
enso
n L
onsd
ale
& C
o.
Ltd
., w
hich
in 1
961
mer
ged
with
Kle
inw
ort,
Son
s &
Co.
Ltd
. to
beco
me
Kle
inw
ort
Ben
son
Ltd
.25
B. W
. Bly
dens
tein
& C
o.55
& 5
6 T
hrea
dnee
dle
Stre
et,
Lon
don,
EC
4 H
ercu
les
Pass
age,
Old
Bro
ad S
tree
t, L
ondo
n, E
C
1859
to
1953
.Fo
unde
d in
185
9 by
Ben
jam
in W
illem
Bly
dens
tein
. In
the
sam
e ye
ar, h
e fo
unde
d its
Am
ster
dam
br
anch
, Tw
ents
che
Ban
k, o
f whi
ch h
e w
as a
dir
ecto
r26
In 1
928
Tw
ents
che
Ban
k w
as c
onve
rted
to
a lim
ited
com
pany
. The
re w
as a
sim
ilar
chan
ge in
its
pare
nt c
ompa
ny, d
e T
wen
tsch
e B
ank
of A
mst
erda
m. T
he p
aid-
up c
apita
l of B
. W. B
lyde
nste
in w
as
incr
ease
d fr
om £
625,
000
to £
700,
00027
From
30
Sept
embe
r 19
32, t
he fi
rm r
estr
icte
d its
act
iviti
es in
the
Lon
don
disc
ount
and
bill
mar
ket.
28
Thi
s le
d to
a c
hang
e of
par
tner
s an
d a
redu
ctio
n in
the
firm
’s c
apita
l to
£100
,000
29
In 1
953
the
firm
’s b
usin
ess
was
abs
orbe
d w
ithin
de
Tw
ents
che
Ban
k N
V a
nd d
e N
eder
land
sche
H
ande
l-M
aats
chap
pij N
V o
f Am
ster
dam
30
(con
tinue
d)
(con
tinue
d)
Page 5
APPENdIx 365
Firm
Profi
le
Bly
th, G
reen
e, J
ourd
ain
&
Co.
Lim
ited
41 E
astc
heap
,L
ondo
n, E
C
1810
to
1981
Tho
mas
Bly
th a
nd C
o. w
as e
stab
lishe
d in
Lim
ehou
se in
181
0 as
a s
ail-
mak
er a
nd s
hip
chan
dler
. The
M
auri
tius
firm
of T
hom
as B
lyth
, Son
s &
Co.
was
est
ablis
hed
in 1
830.
In
1874
the
firm
bec
ame
Bly
th, G
reen
e, J
orda
in &
Co.
and
inco
rpor
ated
as
a pr
ivat
e lim
ited
com
pany
in 1
894.
Sho
rtly
af
terw
ards
acq
uiri
ng t
he b
anki
ng b
usin
ess
of B
enec
ke S
ouch
ay &
Co.
In 1
903
the
firm
bec
ame
the
sole
age
nts
of t
he A
siat
ic P
etro
leum
Com
pany
for
Mau
ritiu
s an
d R
éuni
on. T
his
evol
ved
into
an
agen
cy fo
r Sh
ell C
ompa
ny o
f Sou
th A
fric
a. d
urin
g th
e in
terw
ar
peri
od t
he fi
rm d
id a
con
side
rabl
e am
ount
of t
rade
in r
ice
from
Bur
ma.
The
firm
was
invo
lved
in
givi
ng c
redi
t to
cus
tom
ers
abro
ad a
nd m
akin
g ad
vanc
es t
o sh
ippe
rs a
gain
st p
rodu
ce31
In 1
981
the
com
pany
was
acq
uire
d by
Joh
n Sw
ire
and
Sons
Bon
n &
Co.
62½
Old
Bro
ad S
tree
t,L
ondo
n, E
C
c.19
00 t
o 19
21In
clud
ed in
Ban
kers
’ Ret
urn
for
1914
. Max
and
Wal
ter
Bon
n w
ere
part
ners
.M
ax B
onn’
s fa
ther
pro
vide
d th
e ca
pita
l for
the
bus
ines
s. W
alte
r B
onn
was
Max
’s c
ousi
n.32
Wal
ter
Bon
n se
rved
in t
he W
elsh
Gua
rds
in t
he F
irst
Wor
ld W
ar, r
each
ing
the
rank
of M
ajor
. He
was
aw
arde
d th
e M
ilita
ry C
ross
and
dis
tingu
ishe
d se
rvic
e O
rder
.33 H
e di
d no
t re
turn
to
the
firm
. Fr
om 3
0 Ju
ne 1
919,
Max
Bon
n w
as s
ole
part
ner.34
The
firm
was
acq
uire
d by
Hel
bert
, Wag
g &
C
o. in
192
135
Bou
lton
Bro
ther
s &
Co.
39 O
ld B
road
Str
eet,
Lon
don,
EC
1907
to
1924
Est
ablis
hed
in 1
907.
Acq
uire
d A
lexa
nder
Fle
tche
r &
Co.
in 1
910.
Fro
m 1
910
had
a co
ntro
lling
in
tere
st in
the
Rus
sian
& E
nglis
h B
ank
of S
t Pe
ters
burg
. Fro
m 1
919
deal
t in
Ind
ian
trad
e bi
lls.
Lon
don
agen
t fo
r A
llian
ce B
ank
of S
imla
. dec
lare
d ba
nkru
pt in
192
4A
rthu
r H
. Bra
ndt
& C
o.[O
ld F
irm
]39
Lim
e St
reet
,L
ondo
n, E
C
1899
to
1924
Ger
man
ori
gins
. Est
ablis
hed
in L
ondo
n in
189
9. A
rthu
r B
rand
t di
ed in
Aug
ust
1923
, but
his
firm
w
as c
ontin
ued
by t
he r
emai
ning
par
tner
s.36
In
Oct
ober
192
4, t
he fi
rm w
as a
cqui
red
by L
ondo
n &
Fo
reig
n B
anki
ng C
orpo
ratio
n37
(con
tinue
d)
(con
tinue
d)
Page 6
366 APPENdIx
Firm
Profi
le
Art
hur
H. B
rand
t an
d C
ompa
ny[N
ew F
irm
]15
8 Fe
nchu
rch
Stre
et,
Lon
don,
EC
3
1924
to
1930
Inco
rpor
ated
as
an u
nlim
ited
com
pany
on
8 N
ovem
ber
1924
with
Lon
don
& F
orei
gn B
anki
ng
Cor
pora
tion
as t
he p
rinc
ipal
sha
reho
lder
(80
%).
Spe
cial
Res
olut
ion
for
Mem
ber’
s V
olun
tary
W
indi
ng-u
p on
18
dec
embe
r 19
30. F
inal
ly d
isso
lved
on
2 O
ctob
er 1
95338
Wm
. Bra
ndt’
s So
ns &
Co.
4 Fe
nchu
rch
Ave
nue,
Lon
don,
EC
1858
to
1975
Ger
man
mer
cant
ile fa
mily
tra
ding
to
Rus
sia.
Em
man
uel H
enry
Bra
ndt,
Will
iam
’s b
roth
er, w
as t
he
Lon
don
agen
t fr
om 1
807
as E
. H. B
rand
t &
Co.
In 1
858
an in
depe
nden
t br
anch
of t
he R
ussi
an fi
rm w
as e
stab
lishe
d in
Lon
don
as W
m. B
rand
t’s
Sons
& C
o., e
xten
ding
its
busi
ness
to
Arg
entin
a, G
erm
any
and
Nor
th A
mer
ica.
In
1886
the
C
alcu
tta
hous
e of
C. S
chol
vin
& C
o. w
as a
cqui
red
but
was
clo
sed
in 1
892.
Aft
er 1
918
the
firm
di
vers
ified
into
fore
ign
exch
ange
bus
ines
s an
d re
sum
ed t
imbe
r tr
adin
g39
In 1
952
the
firm
was
con
vert
ed to
a li
mite
d co
mpa
ny. I
n 19
65 N
atio
nal &
Grin
dlay
s Ban
k ac
quire
d tw
o-th
irds o
f the
equ
ity. A
fter p
rope
rty
loss
es in
the
seco
ndar
y ba
nkin
g cr
isis o
f 197
5, G
rindl
ays B
ank
stre
ngth
ened
its c
ontr
ol a
nd a
s a r
esul
t Bra
ndts
was
exp
elle
d fr
om th
e A
ccep
ting
Hou
ses C
omm
ittee
40
Bro
wn
Ship
ley
Foun
ders
Cou
rt,
Lot
hbur
y,L
ondo
n, E
CW
est E
nd b
ranc
h:12
3 Pa
ll M
all,
Lon
don,
SW
c.18
00 t
o P
rese
ntT
he fi
rm c
an tr
ace
its o
rigin
s to
Ale
xand
er B
row
n, a
n Ir
ish li
nen
mer
chan
t in
Bal
timor
e in
the
USA
ab
out 1
800.
His
son
foun
ded
the
Liv
erpo
ol h
ouse
in 1
810
as W
illia
m B
row
n &
Co.
, bec
omin
g th
e le
adin
g ho
uses
in th
e A
mer
ican
trad
e es
peci
ally
cot
ton.
An
Am
eric
an, W
illia
m S
hipl
ey, b
ecam
e a
part
-ne
r in
182
5 an
d th
e fir
m w
as r
enam
ed B
row
n, S
hipl
ey &
Co.
in 1
837.
In
1863
the
firm
sta
rted
to
with
draw
from
mer
chan
ting
and
open
ed a
n of
fice
in L
ondo
n, c
losin
g th
e L
iver
pool
bra
nch
in 1
888
The
firm
was
mai
nly
an a
ccep
tanc
e ho
use
for t
he A
mer
ican
trad
e. I
t also
did
fore
ign
exch
ange
and
de
posit
ban
king
. It h
ad a
Wes
t End
bra
nch
for p
rivat
e cl
ient
s mai
nly
Am
eric
an b
etw
een
1900
and
195
5In
191
8 its
inte
r-lo
ckin
g pa
rtne
rshi
p w
ith B
row
n B
roth
ers i
n th
e U
SA e
nded
. Bet
wee
n th
e w
ars t
he
firm
had
litt
le e
xpos
ure
to c
entr
al E
urop
e. I
t was
invo
lved
in fi
nanc
ing
the
woo
l, tim
ber a
nd fu
r tra
des
It a
dopt
ed li
mite
d lia
bilit
y in
194
6. I
n 19
93 it
sol
d its
mer
chan
t ba
nkin
g bu
sine
ss t
o G
uinn
ess
Mah
on, c
ontin
uing
as
an in
vest
men
t m
anag
emen
t ho
use41
(con
tinue
d)
(con
tinue
d)
Page 7
APPENdIx 367
Firm
Profi
le
Cha
lmer
s, G
uthr
ie &
Co.
Ltd
.[O
ld F
irm
]9
Idol
Lan
e,L
ondo
n, E
CFr
om 4
Jan
uary
192
6:So
uth
Sea
Hou
se,
37 T
hrea
dnee
dle
Stre
et,
Lon
don
c.18
20 t
o 19
27d
avid
Cha
rles
Gut
hrie
(17
88–1
859)
co-
foun
ded
the
firm
in d
unde
e an
d L
ondo
n in
c.1
820.
In
1865
his
son
, Arb
uthn
ot C
harl
es G
uthr
ie, a
cqui
red
Tor
osay
Cas
tle o
n th
e is
land
of M
ull,
whi
ch
beca
me
the
fam
ily e
stat
e42
The
ori
gina
l par
tner
ship
was
inco
rpor
ated
in A
ugus
t 18
99 w
hen
the
firm
’s b
usin
ess
was
bas
ed in
L
ondo
n, G
uate
mal
a an
d C
olum
bia
In 1
926
Cha
lmer
s &
Gut
hrie
(M
erch
ants
) L
td. w
as fo
rmed
to
acqu
ire
the
mer
chan
ting
busi
ness
. T
he o
rigi
nal fi
rm h
eld
59%
of t
he c
apita
l, bu
t in
192
7 it
was
wou
nd-u
p vo
lunt
arily
Patr
ick
Reg
inal
d C
halm
ers
late
r w
rote
a n
ovel
, The
Gol
den
Bee
, bas
ed o
n hi
s tim
e w
ith t
he fi
rmC
halm
ers,
Gut
hrie
& C
o. L
td.
[New
Fir
m]
9 Id
ol L
ane,
Lon
don,
EC
1927
to
1938
New
com
pany
form
ed w
ith t
he s
ame
nam
e as
ori
gina
l and
was
bas
ed a
t th
e or
igin
al a
ddre
ss. N
one
of t
he d
irec
tors
of t
he o
ld fi
rm t
rans
ferr
ed t
o th
e ne
w fi
rmT
he fi
rm b
ecam
e an
issu
ing
hous
e. I
t m
anag
ed is
sues
for
R. M
. C. T
extil
es (
1928
) L
td. i
n 19
28,
Tro
wbr
idge
Tyr
e &
Rub
ber
Com
pany
(19
29)
Ltd
in 1
929
and
Hic
kson
, Llo
yd &
Kin
g L
td. i
n 19
3043
Aft
er 1
931
ther
e w
ere
vari
ous
dire
ctor
s ap
poin
ted
usua
lly fo
r sh
ort
peri
ods.
In
Apr
il 19
31 a
25,
000
debe
ntur
e w
as r
aise
d, w
hich
res
ulte
d in
rec
eive
rshi
p in
Oct
ober
193
2. B
y N
ovem
ber
1933
the
de
bt w
as s
atis
fied,
but
the
com
pany
was
dis
solv
ed b
y M
ay 1
938
Cha
plin
, Miln
e, G
renf
ell &
C
o. L
td.
6 Pr
ince
’s S
tree
t,L
ondo
n, E
C
1898
to
1914
Ori
gina
lly t
he A
nglo
-Am
eric
an h
ouse
of M
orto
n, R
ose
& C
o., w
hich
was
sev
erel
y im
pact
ed b
y th
e B
arin
gs c
risi
s of
189
0. I
t re
cons
titut
ed it
self
as C
hapl
in, M
ilne,
Gre
nfel
l & C
o. L
td. i
n 18
98. I
t su
spen
ded
paym
ents
in J
une
1914
as
a re
sult
of s
pecu
latio
n in
mai
nly
Can
adia
n se
curi
ties44
Art
hur
Gre
nfel
l was
a m
embe
r of
the
Gre
nfel
l ban
king
fam
ily. H
e m
arri
ed t
he d
augh
ter
of E
arl
Gre
y, t
he G
over
nor
Gen
eral
of C
anad
a. H
e al
so t
he p
rinc
ipal
sha
reho
lder
in t
he C
anad
ian
Age
ncy,
an
issu
ing
and
finan
ce h
ouse
for
mai
nly
Can
adia
n se
curi
ties,
whi
ch a
lso
faile
d in
191
4
(con
tinue
d)
(con
tinue
d)
Page 8
368 APPENdIx
Firm
Profi
le
Clo
se B
roth
ers
& C
o.7,
9 &
11
Moo
rgat
e,L
ondo
n, E
CFr
om c
.192
8:N
o. 9
Cle
men
ts L
ane,
Lon
don
EC
4
1878
to
Pre
sent
Will
iam
Bro
oks
Clo
se fo
unde
d th
e bu
sine
ss in
187
8, in
itial
ly p
rovi
ding
farm
mor
tgag
es in
Iow
a,
and
late
r fin
anci
ng t
he fi
rst
railw
ay in
Ala
ska.
45 T
he fi
rm c
lose
d its
Chi
cago
offi
ce in
192
1In
his
will
W. B
. Clo
se d
irec
ted
that
Clo
se B
roth
ers
shou
ld b
e w
ound
up
and
a ne
w c
ompa
ny
crea
ted
with
the
sam
e na
me.
Hal
f the
unq
uote
d in
vest
men
ts h
eld
by t
he o
rigi
nal c
ompa
ny w
ere
tran
sfer
red
to h
is e
stat
e.46
The
vol
unta
ry li
quid
atio
n oc
curr
ed in
192
447
Art
hur
Mar
tens
bec
ame
a di
rect
or in
193
4. H
e co
ncei
ved
the
idea
of a
pub
lic c
ompa
ny t
hat
wou
ld c
onso
lidat
e sm
alle
r in
depe
nden
t ga
s co
mpa
nies
. The
firm
form
ed t
he S
outh
Wes
tern
Gas
C
orpo
ratio
n.48
Fro
m 1
935
until
aft
er t
he S
econ
d W
old
War
whe
n th
e in
dust
ry w
as n
atio
nalis
ed,
the
firm
man
aged
var
ious
gas
and
ele
ctri
city
com
pani
es.
The
firm
was
a fo
unde
r m
embe
r of
the
Iss
uing
Hou
ses
Ass
ocia
tion
in 1
946.
In
1973
it w
as a
cqui
red
by C
onso
lidat
ed G
old
Fiel
ds. I
n 19
78 t
here
was
a m
anag
emen
t bu
y-ou
t. I
n 19
82 t
he fi
rm
acqu
ired
a S
tock
Exc
hang
e qu
otat
ion.
Cul
land
Com
pany
Lim
ited
11 T
hrog
mor
ton
Ave
nue,
Lon
don,
EC
1921
to
1943
Est
ablis
hed
in 1
921
as a
pri
vate
ban
king
and
fina
ncia
l hou
se, c
onve
rtin
g to
an
unlim
ited
com
pany
in
1922
. The
par
tner
s w
ere
stoc
k jo
bber
with
par
ticul
ar e
xper
tise
in o
il sh
ares
.49 I
n 19
22 it
pur
chas
ed
the
bulk
of t
he R
oyal
dut
ch C
ompa
ny’s
hol
ding
in t
he S
hell
Tra
nspo
rt &
Tra
ding
Com
pany
for
£5.7
m.50
It
also
had
inte
rest
s in
var
ious
min
ing
com
pani
esT
he n
ovel
ist,
Ian
Fle
min
g, w
orke
d fo
r th
e co
mpa
ny in
193
3.51
In
1935
the
firm
bec
ame
limite
d co
mpa
ny. I
n 19
43 M
orga
n G
renf
ell a
gree
d to
tak
e ov
er it
s bu
sine
ss a
nd in
194
4 pu
t th
e co
mpa
ny
into
vol
unta
ry li
quid
atio
n52
(con
tinue
d)
(con
tinue
d)
Page 9
APPENdIx 369
Firm
Profi
le
Cun
liffe
Bro
ther
s2
Whi
te L
ion
Cou
rt,
Cor
nhill
,L
ondo
n, E
C
1890
to
1920
In 1
890
Wal
ter
Cun
liffe
and
his
tw
o br
othe
rs A
rthu
r an
d L
eona
rd fo
unde
d th
e m
erch
ant
bank
C
unlif
fe B
roth
ers.
On
his
fath
er’s
dea
th in
189
5, h
e ca
me
into
a s
ubst
antia
l for
tune
. Thi
s fo
rtun
e sh
ould
hav
e in
crea
sed
both
his
abi
lity
to d
o bu
sine
ss a
nd t
he s
tatu
re o
f his
hou
se. N
ever
thel
ess,
C
unlif
fe B
roth
ers
was
nev
er a
fron
t-ra
nk fi
rm, a
nd o
n 1
Janu
ary
1920
—fiv
e da
ys b
efor
e hi
s de
ath—
it w
as a
bsor
bed
by t
he m
erch
ant
bank
Frü
hlin
g an
d G
osch
en, w
hich
bec
ame
the
new
ho
use
of G
osch
ens
& C
unlif
fe (
whi
ch fa
iled
in d
ecem
ber
1939
). L
ord
Cun
liffe
was
Gov
erno
r of
th
e B
ank
of E
ngla
nd fr
om 1
913
to 1
918,
dur
ing
the
criti
cal W
orld
War
I e
ra. H
e w
as c
reat
ed 1
st
Bar
on C
unlif
fe in
191
4D
awna
y, D
ay &
Co.
Ltd
.To
c.1
932:
54 T
hrea
dnee
dle
Stre
et,
Lon
don,
EC
2Fr
om c
.193
2:15
Moo
rgat
e,L
ondo
n, E
C2
1928
to
1950
The
firm
was
foun
ded
in 1
928
by M
ajor
-Gen
eral
daw
nay
and
Maj
or d
ay. I
t w
as in
itial
ly a
n is
suin
g ho
use,
but
in t
he e
arly
193
0s b
ecam
e in
volv
ed in
reo
rgan
isin
g th
e ga
s in
dust
ry. S
outh
Eas
tern
Gas
C
orpo
ratio
n w
as la
unch
ed in
193
2 by
the
firm
and
Edw
ard
de S
tein
and
Co.
The
new
com
pany
ha
d co
ntro
l of s
ever
al lo
cal g
as c
ompa
nies
. Sim
ilar
vent
ures
wer
e fo
rmed
with
the
Sev
ern
Val
ley
Gas
Cor
pora
tion,
Gas
Con
solid
atio
n an
d Pa
latin
e G
as C
orpo
ratio
n53
Maj
or-G
ener
al d
awna
y w
as c
hair
man
in 1
925–
1929
of t
he t
roub
led
Bri
tish
Cel
anes
e C
ompa
ny a
nd
in 1
929–
1936
of t
he a
rmam
ents
and
eng
inee
ring
com
pany
Arm
stro
ng W
hitw
orth
. He
had
an
impo
rtan
t ro
le in
the
indu
stri
al r
atio
nalis
atio
n m
ovem
ent
In 1
934
the
firm
laun
ched
the
Inv
esto
rs G
ener
al F
ixed
Tru
st w
ith a
por
tfol
io o
f com
pani
es in
the
ga
s an
d el
ectr
ical
indu
stri
es. I
t la
unch
ed fi
ve o
ther
fixe
d tr
usts
in t
he 1
930s
. In
1936
it la
unch
ed
Inve
stor
s Fl
exib
le T
rust
, a m
anag
ed u
nit
trus
t. I
n 19
37 c
lose
inte
rest
s of
daw
nay,
day
and
Co.
ac
quir
ed F
iftee
n M
oorg
ate
Uni
t T
rust
s54
In 1
950
the
firm
bec
ame
an in
vest
men
t tr
ust
and
tran
sfer
red
its fi
nanc
e bu
sine
ss t
o E
dwar
d de
Ste
in
and
Co.
55
(con
tinue
d)
(con
tinue
d)
Page 10
370 APPENdIx
Firm
Profi
le
Den
t, P
alm
er &
Co.
1 G
resh
am H
ouse
,L
ondo
n, E
C
1835
to
1923
In 1
835
Tho
mas
den
t jo
ined
a fi
rm w
hich
bec
ame
know
n as
Pal
mer
, Mac
killo
p, d
ent
& C
o. I
n 18
58 J
ohn
Hor
sley
Pal
mer
, a fo
rmer
gov
erno
r of
the
Ban
k of
Eng
land
(18
30–3
3), a
s w
as h
is s
on
Edw
ard
How
ley
Palm
er (
1877
-9),
and
Jam
es M
acki
llop
retir
ed fr
om t
he fi
rm. T
he r
emai
ning
pa
rtne
rs c
ontin
ued
the
busi
ness
as
den
t, P
alm
er &
Co.
In 1
923
the
firm
was
dec
lare
d ba
nkru
pt b
ecau
se o
f the
with
draw
al o
f £73
,000
by
a pa
rtne
r, N
icol
as
Mid
dard
.56 T
he fi
rm w
as a
lso
sued
by
N. M
. Rot
hsch
ild &
Son
s fo
r de
faul
ting
on t
he p
aym
ent
to
the
bond
hold
ers
of a
n O
ttom
an L
oan57
The
goo
dwill
of t
he b
ankr
upt
firm
was
pur
chas
ed fr
om t
he li
quid
ator
in 1
923
for
£100
0 by
S. B
. K
Har
riso
n an
d tw
o ot
her
inve
stor
s. H
owev
er, H
arri
son
had
finan
cial
diffi
culti
es t
hat
led
to t
he c
ol-
laps
e of
a L
loyd
s sy
ndic
ate
man
aged
by
Har
riso
n, R
eid
& C
o. L
td. T
he n
ew p
artn
ersh
ip in
den
t,
Palm
er &
Co.
was
the
refo
re w
ound
up
in s
hort
ly a
fter
est
ablis
hmen
tde
Pur
y, G
auts
chi&
Co.
To 1
919:
17 S
t H
elen
’s P
lace
,L
ondo
n, E
CFr
om 1
920:
25 C
olle
ge H
ill,
Lon
don,
EC
1903
to
c.19
23T
he d
e Pu
ry fa
mily
wer
e of
Hug
ueno
t or
igin
s fr
om N
euch
atel
, Sw
itzer
land
. dav
id d
e Pu
ry a
nd h
is
son
Her
man
n E
. de
Pury
wer
e in
bus
ines
s in
Lon
don
from
the
late
nin
etee
nth
cent
ury
until
190
2 as
de
Pury
, Son
and
Co.
The
firm
de
Pury
, Gau
tsch
i & C
o w
as fo
rmed
on
the
retir
emen
t of
dav
id
de P
ury
and
the
adm
issi
on o
f Geo
rge
G. G
auts
chi t
o th
e pa
rtne
rshi
p in
190
358
Whe
n H
erm
ann
E. d
e Pu
ry r
etir
ed fr
om t
he fi
rm in
190
9, G
eorg
e G
. Gau
tsch
i bec
ame
the
gene
ral
part
ner.
He
had
thre
e lim
ited
part
ners
.59 T
here
wer
e fa
mily
link
s in
the
par
tner
ship
. Hen
ry
dur
ler’
s si
ster
mar
ried
Geo
rge
G. G
auts
chi a
nd A
lexa
nder
Ing
ham
Whi
take
r m
arri
ed d
avid
de
Pury
’s d
augh
ter
- bo
th d
urle
r an
d W
hita
ker
wer
e pa
rtne
rs in
the
firm
60
Geo
rge
G. G
auts
chi w
as a
lso a
silv
ersm
ith w
ith a
regi
ster
ed h
allm
ark.
Hen
ry d
urle
r had
a su
cces
sful
bus
i-ne
ss in
Lut
on a
s a st
raw
pla
it m
erch
ant a
nd b
leac
her.
His
son
beca
me
a di
rect
or o
f the
che
mic
al fi
rm
Lap
orte
in 1
928.
Ale
xand
er I
ngha
m W
hita
ker w
as th
e ow
ner o
f Gra
ysho
tt H
all i
n Su
rrey
unt
il 19
27G
eorg
e G
. Gau
tsch
i die
d in
191
9 an
d w
as su
ccee
d in
the
part
ners
hip
by h
is w
idow
. The
firm
was
incl
uded
in
the
Ban
kers
’ Ret
urns
from
191
4 to
192
3, b
ut th
e bu
sines
s see
ms t
o ha
ve c
ease
d in
the
early
192
0s
(con
tinue
d)
(con
tinue
d)
Page 11
APPENdIx 371
Firm
Profi
le
Edw
ard
de S
tein
& C
o.Pi
nner
s H
all
Aus
tin F
riar
sL
ondo
n, E
C2
1925
to
1960
The
firm
was
est
ablis
hed
in 1
925
and
spec
ialis
ed in
new
issu
es a
nd in
vest
men
t tr
usts
61
de
Stei
n hi
mse
lf w
as a
dir
ecto
r of
the
Col
umbi
a G
raph
opho
ne C
ompa
ny fr
om a
bout
192
0 an
d w
as
invo
lved
with
its
mer
ger
in 1
931
with
the
Gra
mop
hone
to
form
Ele
ctri
c an
d M
usic
al I
ndus
trie
s L
td. (
late
r E
MI
Ltd
.). H
e w
as c
hair
man
of t
obac
co m
anuf
actu
rers
Gal
lahe
r L
td. o
f Bel
fast
, fol
low
-in
g hi
s or
gani
zatio
n of
a s
yndi
cate
to
acqu
ire
the
busi
ness
from
its
foun
ding
fam
ily in
192
8. H
e w
as a
lso
chai
rman
of t
he fi
nanc
e ho
use
Mer
cant
ile C
redi
t fr
om t
he e
arly
193
0s t
o th
e 19
50s,
at
a tim
e of
its
expa
nsio
n in
to h
ire
purc
hase
The
firm
acq
uire
d th
e fin
ance
bus
ines
s of
daw
nay
day
in 1
950.
Lat
er in
196
0 th
e fir
m m
erge
d w
ith
Laz
ard
Bro
ther
s, E
dwar
d de
Ste
in d
ied
in 1
96562
Sam
uel D
obré
e &
Son
s7,
9 &
11
Moo
rgat
e,L
ondo
n, E
C
c.17
20 t
o 19
29T
he fi
rm o
rigi
nate
d in
Gue
rnse
y in
the
ear
ly e
ight
eent
h ce
ntur
y an
d la
ter
tran
sfer
red
to L
ondo
n in
ab
out
1720
Mem
ber
of t
he I
nter
natio
nal F
inan
cial
Soc
iety
issu
ing
cons
ortiu
m in
186
363
In 1
914
this
firm
was
one
of t
he o
ldes
t m
erca
ntile
firm
s in
the
City
. The
last
par
tner
s fr
om t
he
dob
rée
fam
ily w
ere
Bon
may
dob
rée,
who
die
d in
190
7, a
nd h
is s
on H
arry
Han
key
dob
rée,
who
di
ed in
190
8. B
onm
ay w
as a
dir
ecto
r of
the
Lon
don
& W
estm
inst
er B
ank
for
50 y
ears
. His
fath
er
was
Gov
erno
r of
the
Ban
k of
Eng
land
in 1
85964
By
1927
the
firm
had
a g
loba
l mer
cant
ile b
usin
ess
deal
ing
in a
ran
ge o
f com
mod
ities
, but
und
er-
wen
t a
reco
nstr
uctio
n in
clud
ing
the
form
atio
n of
a n
ew d
epar
tmen
t fo
r se
curi
ties
issu
ance
The
firm
bec
ame
bank
rupt
in 1
929
Dun
n, F
isch
er &
Co.
41 T
hrea
dnee
dle
Stre
et,
Lon
don,
EC
1905
to
1914
Est
ablis
hed
in 1
905,
but
eff
ectiv
ely
ceas
ed in
191
465
Jam
es d
unn
beca
me
a m
ajor
Can
adia
n fin
anci
er a
nd in
dust
rial
ist
duri
ng t
he in
terw
ar p
erio
d
(con
tinue
d)
(con
tinue
d)
Page 12
372 APPENdIx
Firm
Profi
le
Erl
ange
rs8
Cro
sby
Squa
re,
Lon
don,
EC
1859
to
1959
Tra
ces
its o
rigi
ns t
o th
e E
rlan
ger
fam
ily o
f Fra
nkfu
rt. I
n 18
59 E
mile
Erl
ange
r es
tabl
ishe
d E
mile
E
rlan
ger
& C
o. in
Par
is, s
peci
alis
ing
in t
he is
sue
of b
onds
for
sove
reig
n cl
ient
s. I
t w
orke
d cl
osel
y w
ith J
. Hen
ry S
chro
der
& C
o. I
n 18
70 a
Lon
don
bran
ch w
as o
pene
d, a
nd t
he fo
cus
of t
he fi
rm
shift
ed fr
om P
aris
. The
firm
was
invo
lved
in b
oth
bond
issu
ance
and
acc
epta
nce
finan
ceT
he fi
rm b
ecam
e kn
own
as E
rlan
gers
from
191
7 an
d be
cam
e a
priv
ate
limite
d co
mpa
ny in
192
8. I
n th
e 19
30s
it sp
ecia
lised
in c
orpo
rate
fina
nce
for
Bri
tish
indu
stry
In 1
959
it m
erge
d w
ith P
hilip
Hill
, Hig
gins
on &
Co.
Ltd
. to
form
Phi
lip H
ill, H
iggi
nson
, Erla
nger
s L
td.,
whi
ch in
196
5 m
erge
d w
ith M
. Sam
uel &
Co.
Ltd
. to
form
Hill
Sam
uel &
Co.
Ltd
.66
Sam
e ad
dres
s as
Rob
ert
Flem
ing
& C
o. in
191
4. I
nclu
ded
in B
anke
rs’ R
etur
n fo
r 19
14–1
928
O. T
. Fal
k &
Com
pany
10, O
ld J
ewry
,L
ondo
n, E
C2
1932
to
1934
Five
sto
ckbr
oker
s re
sign
ed fr
om B
uckm
aste
r &
Moo
re t
o fo
rm t
his
firm
in F
ebru
ary
1932
.67 O
.T.
Falk
was
a w
ell-
know
n co
mm
enta
tor
on e
cono
mic
issu
es. H
e w
as a
dir
ecto
r of
the
mer
chan
t ba
nk
Cha
lmer
s G
uthr
ie b
etw
een
1925
and
192
8. T
he fi
rm w
as d
isso
lved
in S
epte
mbe
r 19
34.68
In
1937
O
. T. F
alk
form
ed P
ower
Jet
s L
td. t
o fin
ance
the
dev
elop
men
t of
the
Whi
ttle
jet
engi
ne.69
The
co
mpa
ny w
as la
ter
natio
nalis
edM
. & F
. Feu
chtw
ange
r16
5-7
Moo
rgat
e,L
ondo
n, E
C2
c.19
34Pa
rt o
f a J
ewis
h ba
nkin
g fa
mily
. Thi
s fir
m w
as e
stab
lishe
d in
Lon
don
by t
he b
roth
ers
Mor
itz a
nd
Fritz
70
Rob
ert
Flem
ing
& C
o.8
Cro
sby
Squa
re,
Lon
don,
EC
1873
to
2000
The
firm
was
est
ablis
hed
in d
unde
e in
187
3 an
d m
oved
to
Lon
don
in 1
909
Rob
ert
Flem
ing
was
kno
wn
as t
he ‘f
athe
r of
the
inve
stm
ent
trus
t’. T
he fi
rm h
ad fe
w in
tere
sts
out-
side
of t
he U
SA b
efor
e th
e Fi
rst
Wor
ld W
ar71
In 1
970,
Rob
ert
Flem
ing
ente
red
into
an
inve
stm
ent
bank
ing
join
t ve
ntur
e w
ith H
ong
Kon
g ba
sed
Jard
ine
Mat
heso
n, fo
rmin
g Ja
rdin
e Fl
emin
g72
In A
pril
2000
, Rob
ert
Flem
ing
Hol
ding
s w
as s
old
to C
hase
Man
hatt
an B
ank
for
$7.7
bill
ion
(con
tinue
d)
(con
tinue
d)
Page 13
APPENdIx 373
Firm
Profi
le
Früh
ling
& G
osch
en12
Aus
tin F
riar
s,L
ondo
n, E
C
1814
to
1920
The
firm
was
est
ablis
hed
in L
ondo
n in
181
4 by
a G
erm
an m
erch
ant,
W. H
. Gos
chen
, to
act
as
com
mis
sion
age
nts
expo
rtin
g co
loni
al p
rodu
ce a
nd c
otto
n to
Ger
man
y. H
is s
on V
isco
unt
Gos
chen
be
cam
e C
hanc
ello
r of
the
Exc
hequ
erT
he fi
rm la
ter
acte
d as
mer
chan
ts a
nd fo
reig
n ba
nker
s. I
t w
as a
mem
ber
of t
he I
nter
natio
nal
Fina
ncia
l Soc
iety
issu
ing
cons
ortiu
m in
186
373
On
1 Ja
nuar
y 19
20, C
unlif
fe B
roth
ers
was
abs
orbe
d by
Frü
hlin
g an
d G
osch
en, w
hich
bec
ame
the
new
hou
se o
f Gos
chen
s &
Cun
liffe
Ant
ony
Gib
bs &
Son
s22
Bis
hops
gate
,L
ondo
n, E
C
1808
to
1980
The
firm
was
est
ablis
hed
in L
ondo
n in
180
8. T
he b
usin
ess
was
mai
nly
focu
sed
on L
atin
Am
eric
a,
beco
min
g th
e le
ader
in p
rodu
ctio
n an
d m
arke
ting
of n
itrat
e. F
rom
188
7 it
broa
dene
d its
bus
ines
s in
to b
ond
issu
ance
, pri
vate
ban
king
and
acc
epta
nce
finan
ce. L
ater
exp
andi
ng in
to A
ustr
alia
In 1
918
the
nitr
ate
trad
e co
llaps
ed, a
nd t
he fi
rm fe
ll ba
ck o
n its
oth
er b
usin
esse
s an
d di
vers
ified
aw
ay fr
om L
atin
Am
eric
a. I
t ex
pand
ed in
to in
sura
nce
brok
ing
and
esta
blis
hed
a si
gnifi
cant
tim
ber
trad
ing
busi
ness
esp
ecia
lly in
Aus
tral
iaA
fter
the
Sec
ond
Wor
ld W
ar t
he d
iffer
ent
part
ners
hips
wer
e re
orga
nise
d in
to li
mite
d co
mpa
nies
. In
1972
the
Hon
g K
ong
& S
hang
hai B
anki
ng C
orpo
ratio
n ac
quir
ed 2
0%, o
btai
ning
full
owne
rshi
p in
198
074
John
K. G
illia
t &
Co.
7 C
rosb
y Sq
uare
,L
ondo
n, E
C
1786
to
1944
In 1
786
the
brot
hers
Joh
n an
d T
hom
as G
illia
t es
tabl
ishe
d th
e fir
m in
Vir
gini
a an
d L
ondo
n. I
n th
e m
id-n
inet
eent
h ce
ntur
y th
e fir
m b
ecam
e Jo
hn K
. Gill
iat
& C
ompa
ny, a
mer
chan
t ba
nkin
g co
m-
pany
tha
t tr
aded
in E
ngla
nd a
nd A
mer
ica75
In 1
944
the
firm
was
acq
uire
d by
Arb
uthn
ot L
atha
m &
Co.
Ltd
.76
Gos
chen
s &
Cun
liffe
12 A
ustin
Fri
ars,
Lon
don,
EC
1920
to
1940
New
par
tner
ship
form
ed o
n th
e m
erge
r of
Cun
liffe
Bro
ther
s an
d Fr
ühlin
g &
Gos
chen
. The
firm
ce
ased
tra
ding
in 1
940.
H. K
. Gos
chen
bec
ame
a pa
rtne
r of
Ant
ony
Gib
bs a
nd S
ons
in 1
947
(con
tinue
d)
(con
tinue
d)
Page 14
374 APPENdIx
Firm
Profi
le
Gra
ce B
roth
ers
& C
o. L
td.
144
Lea
denh
all S
tree
t,L
ondo
n, E
C
1876
to
1937
W. R
. Gra
ce &
Co.
was
foun
ded
in P
eru
in 1
854
by W
illia
m R
usse
ll G
race
. The
com
pany
set
up
head
offi
ce o
pera
tions
in N
ew Y
ork
City
in 1
865.
It
wou
ld b
ecom
e a
maj
or m
erch
ant
ship
per,
and
esta
blis
hed
the
Gra
ce N
atio
nal B
ank,
fore
runn
er o
f Mar
ine
Mid
land
Ban
k, in
191
4. I
t co
ntin
ues
toda
y as
spe
cial
ist
chem
ical
s an
d m
ater
ials
con
glom
erat
e77
The
mer
chan
t ba
nkin
g af
filia
te o
f the
W. R
. Gra
ce &
Co.
was
est
ablis
hed
in P
eru
in 1
876
by
Will
iam
R. G
race
and
his
bro
ther
Mic
hael
. It
had
deve
lope
d fr
om a
shi
p’s
chan
dler
bus
ines
s ca
lled
Bry
ce &
Co.
Mic
hael
Gra
ce s
tart
ed t
o sp
end
mor
e tim
e in
Eng
land
from
whi
ch t
he L
ondo
n m
er-
chan
t ba
nk e
volv
ed. I
n 19
37 G
race
Bro
ther
s &
Co.
dis
cont
inue
d its
ban
king
bus
ines
s.G
uinn
ess
Mah
on &
Co.
81 L
omba
rd S
tree
t,L
ondo
n, E
C
1836
to
1998
Foun
ded
in d
ublin
in 1
836.
Ope
ned
an a
genc
y in
Lon
don
in 1
879.
dur
ing
the
Firs
t W
orld
War
, th
e L
ondo
n bu
sine
ss b
ecam
e m
orib
und.
78 T
he p
artn
ersh
ip w
as r
estr
uctu
red
in 1
923.
79 W
alte
r Ff
enne
ll of
Wog
au &
Co.
bec
ame
a pa
rtne
r, al
thou
gh t
he fi
rms
cont
inue
d to
ope
rate
sep
arat
ely80
A c
orpo
rate
par
tner
, Eri
n T
rust
Lim
ited,
was
incl
uded
from
192
5. I
n 19
39 it
acq
uire
d W
ogau
&
Co.
and
the
Lon
don
Mer
chan
t B
ank.
In
Febr
uary
194
2 th
e pa
rtne
rshi
p w
as t
rans
form
ed in
to a
pr
ivat
e co
mpa
nyIn
197
2 G
uinn
ess
Mah
on m
erge
d w
ith o
ne o
f the
City
’s la
rge
com
mod
ity t
rade
rs a
nd m
erch
ants
, L
ewis
& P
eat.
The
com
bine
d gr
oup
beca
me
know
n as
Gui
nnes
s Pe
at81
Gui
nnes
s M
ahon
was
acq
uire
d by
the
Ban
k of
Yok
oham
a in
199
1 an
d la
ter
sold
to
Inve
stec
in 1
998
Haa
rble
iche
r &
Sch
uman
n14
4 L
eade
nhal
l Str
eet,
Lon
don,
EC
1867
(?)
to
1918
(?)
Ear
liest
rec
ord
foun
d of
“Jo
hn S
amue
l Haa
rble
iche
r, of
No.
140
, Lea
denh
all-
stre
et, i
n th
e C
ity o
f L
ondo
n, M
erch
ant,
and
Joh
ann
Lud
wig
Sch
uman
n” is
dat
ed 1
86782
Bec
ame
Har
ker,
Mar
tin &
Tilb
rook
in 1
917
and
Pedd
le, H
arke
r &
Mar
tin in
191
8. d
escr
ibed
as
Fore
ign
Ban
kers
83
Sam
e ad
dres
s as
Gra
ce B
roth
ers
& C
o. L
td.
des
crib
ed a
s B
anki
ng a
nd d
isco
unt
Age
nts
in B
anke
rs’ R
etur
n fo
r 19
14
(con
tinue
d)
(con
tinue
d)
Page 15
APPENdIx 375
(con
tinue
d)(c
ontin
ued)
Firm
Profi
le
C. J
. Ham
bro
& S
on70
Old
Bro
ad S
tree
t,L
ondo
n, E
C
1839
to
1998
The
firm
ori
gina
ted
as t
he L
ondo
n br
anch
of t
he J
. C. H
ambr
o &
Son
of C
open
hage
n, w
hich
was
es
tabl
ishe
d in
c.1
800.
It
amal
gam
ated
with
the
Bri
tish
Ban
k of
Nor
ther
n C
omm
erce
Ltd
. in
1920
an
d ev
entu
ally
was
kno
wn
as H
ambr
os B
ank
It w
as a
spe
cial
ist
in A
nglo
-Sca
ndin
avia
n bu
sine
ss w
ith e
xper
tise
in t
rade
fina
nce
and
inve
stm
ent
bank
ing.
It
was
the
sol
e ba
nker
to
the
Scan
dina
vian
kin
gdom
s fo
r m
any
year
sIn
198
6, t
he H
ambr
o T
rust
, est
ablis
hed
in 1
929
and
the
maj
ority
sha
reho
lder
in t
he b
ank,
was
dis
-so
lved
and
the
fam
ily w
ent
thei
r se
para
te w
ays.
In
Febr
uary
199
8 th
e ba
nk w
as s
old
to t
he F
renc
h ba
nk S
ocié
té G
énér
ale
Lio
nel H
ardi
nge
& C
ompa
ny12
7 Fe
nchu
rch
Stre
etL
ondo
n, E
C3
c.19
34T
he o
nly
info
rmat
ion
abou
t th
is fi
rm is
an
adve
rtis
emen
t in
The
Tim
es o
n 14
dec
embe
r 19
34 t
hat
stat
ed:
“Lio
nel H
ardi
nge
& C
ompa
ny, M
erch
ant
Ban
kers
. Und
erta
ke t
he fi
nanc
ing
of I
ndus
tria
l E
nter
pris
es in
the
sta
ges
imm
inen
t to
the
ir c
onve
rsio
n in
to P
ublic
Com
pani
es. A
lso,
the
U
nder
wri
ting
of F
irst
Cla
ss I
ndus
tria
l Iss
ues”
84
G. H
asw
ell V
eitc
h &
Co.
1 C
ornh
ill,
Lon
don,
EC
3
c.19
23T
he o
nly
info
rmat
ion
abou
t th
is fi
rm is
an
adve
rtis
emen
t in
The
Tim
es o
n 30
dec
embe
r 19
34 t
hat
stat
ed: “
Mer
chan
t B
anke
rs. N
ew I
ssue
s of
Cap
ital f
or e
stab
lishe
d B
ritis
h an
d ot
her
Und
erta
king
s.
Purc
hase
and
Sal
e of
Bri
tish
and
othe
r Se
curi
ties.
Und
erw
ritin
g of
app
rove
d C
apita
l Iss
ues”
Hel
bert
, Wag
g &
Co.
37 T
hrea
dnee
dle
Stre
et,
Lon
don,
EC
1804
to
1962
Est
ablis
hed
as s
tock
and
sha
re b
roke
rs in
180
4 as
Hel
bert
and
Wag
g.85
Mov
ed fr
om s
tock
brok
ing
to
mer
chan
t ba
nkin
g86
In 1
962
Schr
oder
s ac
quir
ed H
elbe
rt W
agg.
It
spec
ialis
ed in
issu
es fo
r do
mes
tic c
lient
s an
d he
lped
de
velo
p Sc
hrod
ers’
inve
stm
ent
advi
sory
bus
ines
s87
(con
tinue
d)
Page 16
376 APPENdIx
Firm
Profi
le
Hig
gins
on &
Co.
1 B
ank
Bui
ldin
gs,
Prin
ces
Stre
et,
Lon
don,
EC
From
191
7:80
Lom
bard
Str
eet,
Lon
don,
EC
3
1907
to
1950
Lon
don
hous
e of
Lee
, Hig
gins
on &
Co.
of B
osto
n, U
SAL
ee, H
iggi
nson
& C
o. w
as e
stab
lishe
d in
the
184
0s. T
he fi
rm c
olla
psed
in t
he S
wed
ish
mat
ch
scan
dal i
n 19
32T
he L
ondo
n ho
use
cont
inue
d in
bus
ines
s af
ter
failu
re o
f the
Am
eric
an fi
rm in
193
2It
was
acq
uire
d by
the
Phi
lip H
ill I
nves
tmen
t T
rust
in 1
950.
88 T
he m
erge
d fir
m w
as k
now
n as
Phi
lip
Hill
, Hig
gins
on &
Co.
Ltd
.In
195
9 it
mer
ged
with
Erl
ange
rs t
o fo
rm P
hilip
Hill
, Hig
gins
on, E
rlan
gers
Ltd
., w
hich
in 1
965
mer
ged
with
M. S
amue
l & C
o. L
td. t
o fo
rm H
ill S
amue
l & C
o. L
td.89
Phi
lip H
ill &
Par
tner
s L
td.
55–5
6 Pa
ll M
all
Lon
don,
SW
1
1932
to
1965
In 1
929
Phili
p H
ill b
ecam
e a
dire
ctor
of t
he E
agle
Sta
r In
sura
nce
Com
pany
. With
the
sup
port
of
Eag
le S
tar’
s ch
airm
an, S
ir E
dwar
d M
ount
ain,
in 1
932–
1933
he
set
up P
hilip
Hill
& P
artn
ers
In 1
950,
it m
erge
d w
ith H
iggi
nson
s to
form
Phi
lip H
ill, H
iggi
nson
& C
o. L
td.
In 1
959
it m
erge
d w
ith E
rlan
gers
to
form
Phi
lip H
ill, H
iggi
nson
, Erl
ange
rs L
td.,
whi
ch in
196
5 m
erge
d w
ith M
. Sam
uel &
Co.
Ltd
. to
form
Hill
Sam
uel &
Co.
Ltd
.90
L. H
irsc
h &
Co.
War
nfor
d C
ourt
, Thr
ogm
orto
n St
reet
,L
ondo
n, E
CFr
om 1
0 N
ov. 1
919:
233
Salis
bury
Hou
se,
Lon
don,
EC
c.18
80 t
o 19
23B
aruc
h H
irch
and
his
thr
ee s
ons
Leo
pold
, Ado
lph
and
Hei
nric
h le
ft G
erm
any
in 1
880s
and
foun
ded
the
firm
in L
ondo
n. I
t w
as m
ainl
y in
volv
ed in
Sou
th A
fric
an g
oldm
ines
and
Eng
lish
coal
min
es91
L
eopo
ld H
irsc
h be
cam
e th
e br
oker
to
Wer
nher
, Bei
t &
Co.
in t
he 1
890s
. One
of t
he p
artn
ers
was
th
e br
othe
r of
Sig
ism
und
Neu
man
n92
Incl
uded
in B
anke
rs’ R
etur
n fo
r 19
14. A
par
tner
, Tho
mas
Low
insk
y, m
oved
to
the
stoc
kbro
king
fir
m o
f Hir
sch,
Sto
kes
& W
ilson
in 1
923.
L. H
irsc
h &
Co.
cea
sed
to o
pera
te a
t th
e en
d of
192
393
(con
tinue
d)
(con
tinue
d)
Page 17
APPENdIx 377
Firm
Profi
le
And
rew
Hol
t an
d C
ompa
ny7
Gra
cech
urch
Str
eet,
Lon
don,
EC
331
7 Po
wer
Bui
ldin
gM
ontr
eal,
Can
ada
c.19
24 t
o 19
29Si
r H
erbe
rt S
amue
l Hol
t (1
856–
1941
) w
as a
n Ir
ish-
born
Can
adia
n ci
vil e
ngin
eer
who
bec
ame
a bu
sine
ssm
an, b
anke
r, an
d co
rpor
ate
dire
ctor
with
a r
uthl
ess
busi
ness
rep
utat
ion.
He
was
Pre
side
nt
of t
he R
oyal
Ban
k of
Can
ada;
Mon
trea
l Lig
ht, H
eat
& P
ower
, and
a d
irec
tor
of s
ome
250
com
pa-
nies
wor
ldw
ide,
with
ass
ets
valu
ed a
t ar
ound
$20
0 m
illio
nH
is s
on M
ajor
And
rew
Pat
on H
olt
succ
eede
d hi
s fa
ther
in m
any
of h
is b
usin
ess
vent
ures
in
Mon
trea
l. H
e be
cam
e a
dire
ctor
of B
razi
lian
Tra
ctio
n L
ight
and
Pow
er C
ompa
ny in
192
4.L
ittle
is k
now
n ab
out
his
firm
. It
adve
rtis
ed in
The
Tim
es in
192
9 as
a m
erch
ant
bank
bas
ed in
L
ondo
n an
d M
ontr
eal94
Hor
stm
an &
Co.
2 C
rosb
y Sq
uare
,L
ondo
n, E
C
1802
to
1928
Ger
man
. Est
ablis
hed
in L
ondo
n in
180
2 by
Joh
n H
orst
man
. By
the
mid
-nin
etee
nth
cent
ury,
the
fir
m’s
sen
ior
part
ner
was
Ado
lf d
eich
man
n; a
mem
ber
of t
he fa
mily
tha
t ow
ned
one
of G
erm
any’
s m
ost
pres
tigio
us p
riva
te b
anks
, dei
chm
ann
& C
o.95
On
his
deat
h in
190
7, h
is s
econ
d w
ife,
Bar
ones
s vo
n d
eich
man
n (n
ée H
ilda
Eliz
abet
h de
Bun
sen)
, bec
ame
the
owne
r of
the
firm
.96 H
er
daug
hter
s al
so h
eld
loan
sto
ck in
the
firm
It w
as a
foun
der
mem
ber
of t
he A
ccep
ting
Hou
ses
Com
mitt
ee. I
n 19
21 it
ow
ed t
he B
ank
of
Eng
land
£40
0,00
0 fo
r ad
vanc
es o
n pr
e-m
orat
oriu
m b
ills.
But
it w
as r
egar
ded
a G
erm
an fi
rm a
nd
was
una
ble
to c
ontin
ue in
bus
ines
s. I
n 19
28 it
was
sol
d to
a n
ewly
cre
ated
pri
vate
com
pany
cal
led
J. H
orst
man
and
Co.
Lim
ited
J. H
orst
man
and
Co.
Ltd
.48
Bis
hops
gate
,L
ondo
n, E
C2
1928
to
1929
The
old
firm
was
sol
d on
19
dec
embe
r 19
28 t
o a
new
ly c
reat
ed p
riva
te c
ompa
ny c
alle
d J.
H
orst
man
and
Co.
Lim
ited.
Alb
ert
Joha
n Fr
anse
lla w
as a
dir
ecto
r of
the
new
firm
as
wel
l as
J. C
. im
Thu
rn &
Son
s L
td.
The
firm
faile
d in
192
9 as
a c
onse
quen
ce o
f hea
vy lo
sses
incu
rred
thr
ough
a s
erie
s of
frau
dule
nt
tran
sact
ions
97
(con
tinue
d)
(con
tinue
d)
Page 18
378 APPENdIx
Firm
Profi
le
Fred
eric
k H
uth
& C
o.[O
ld F
irm
]12
Tok
enho
use
Yard
,L
ondo
n, E
C
1809
to
1928
The
com
pany
was
foun
ded
by F
rede
rick
Hut
h, a
Ger
man
mer
chan
t, in
180
9. M
embe
r of
the
In
tern
atio
nal F
inan
cial
Soc
iety
issu
ing
cons
ortiu
m in
186
398
Hut
hs e
xper
ienc
ed fi
nanc
ial d
ifficu
lties
dur
ing
the
Firs
t W
orld
War
and
in 1
921
rece
ived
ass
ista
nce
from
the
Ban
k of
Eng
land
. In
1922
the
firm
mer
ged
with
Kön
ig B
roth
ers.
The
old
Hut
hs fi
rm
was
inco
rpor
ated
in M
arch
192
8 in
the
nam
e of
Cor
dille
ra I
nves
tmen
ts L
td.,
with
Aco
rn T
rust
ta
king
415
non
-vot
ing
shar
es a
nd t
he B
ank
of E
ngla
nd 4
15 v
otin
g sh
ares
. Cer
tain
rea
lisat
ions
w
ere
mad
e in
the
193
0s a
nd t
he p
roce
eds
used
to
redu
ce t
he o
utst
andi
ng d
ebt
to t
he B
ank99
From
191
2–19
24 t
he fi
rm h
ad a
fur
war
ehou
se a
t 64
Par
k St
reet
, Sou
thw
ark,
and
from
192
5 to
19
36 a
t 58
–60
Can
non
Stre
et10
0
Fred
eric
k H
uth
& C
o.[N
ew F
irm
]19
22 t
o 19
36In
192
2 th
e ol
d H
uth
firm
mer
ged
with
Kön
ig B
roth
ers.
Hut
hs w
as w
ound
up
in 1
936
and
the
surv
ivin
g bu
sine
ss t
rans
ferr
ed t
o th
e B
ritis
h O
vers
eas
Ban
kJ.
C. i
m T
hurn
& S
ons
[Old
Fir
m]
1 E
ast
Indi
a A
venu
e,L
ondo
n, E
CB
y 19
25:
17 T
hrog
mor
ton
Ave
nue,
Lon
don
EC
2
1844
to
1925
The
firm
was
foun
ded
in 1
844
by J
ohn
Con
rad
im T
hurn
. In
1875
it s
uspe
nded
pay
men
ts w
ith
gros
s lia
bilit
ies
of £
3m, i
nclu
ding
acc
epta
nces
of £
2m.10
1 The
bus
ines
s la
ter
reco
vere
dIn
191
4 th
ere
wer
e fo
ur p
artn
ers:
tw
o so
ns o
f the
foun
der
and
thei
r so
ns. I
n 19
14 J
ohn
Con
rad
im
Thu
rn, J
nr. w
as a
dir
ecto
r of
the
Bri
tish
Ban
k of
Sou
th A
mer
ica,
and
Arg
entin
e ut
ility
com
pa-
nies
.102 H
e re
sign
ed fr
om t
he b
ank
in 1
919
due
to “
pres
sure
of p
riva
te e
ngag
emen
ts”10
3
In 1
921
J. R
. War
ren
beca
me
a pa
rtne
r. In
192
3 A
rthu
r L
aden
burg
join
ed t
he fi
rm, a
mal
gam
atin
g th
e bu
sine
ss o
f W. L
aden
burg
& C
o104
Alb
ert
Joha
n Fr
anse
lla jo
ined
the
firm
in M
ay 1
924.
105 F
rans
ella
, Lad
enbu
rg a
nd W
arre
n w
ere
the
only
par
tner
s in
the
Ban
kers
’ Ret
urn
in F
ebru
ary
1925
.106 T
he fi
rm w
as d
isso
lved
in d
ecem
ber
1925
and
a n
ew li
mite
d co
mpa
ny fo
rmed
107
(con
tinue
d)
(con
tinue
d)
Page 19
APPENdIx 379
Firm
Profi
le
J. C
. im
Thu
rn &
Son
s L
td.
[New
Fir
m]
37 T
hrea
dnee
dle
Stre
etL
ondo
n E
C2
From
Jul
y 19
37:
14 F
insb
ury
Cir
cus,
Lon
don,
EC
2
1925
to
1962
The
new
firm
con
tinue
d af
ter
the
liqui
datio
n of
the
old
firm
, alth
ough
the
re w
as n
o co
nnec
tion
betw
een
the
two
The
dir
ecto
rs s
at o
n th
e bo
ards
of v
ario
us in
vest
men
t tr
usts
. For
inst
ance
, J. N
. Buc
hana
n w
as a
di
rect
or o
f the
Ind
ustr
ial F
inan
ce a
nd I
nves
tmen
t C
orpo
ratio
n L
imite
d in
192
8T
he c
ompa
ny w
as w
ound
-up
volu
ntar
ily in
196
2108
S. J
aphe
t &
Co.
20 C
opth
all A
venu
e,L
ondo
n, E
C1
Shor
ter’
s C
ourt
,T
hrog
mor
ton
Stre
et,
Lon
don,
EC
1896
to
1986
Ger
man
bro
kera
ge fi
rm t
hat
open
ed a
bra
nch
in L
ondo
n in
189
6. I
n 19
00 it
mov
ed t
o L
ondo
n.
The
firm
con
cent
rate
d on
bro
king
and
arb
itrag
e, b
ut in
191
9 m
oved
to
mer
chan
t ba
nkin
g fr
om
stoc
kbro
king
109
The
firm
was
acq
uire
d by
the
Cha
rter
hous
e G
roup
in J
une
1954
, bec
omin
g C
hart
erho
use
Japh
et
A. K
eyse
r &
Co.
21 C
ornh
ill,
Lon
don,
EC
From
191
7:31
Thr
ogm
orto
n St
reet
,L
ondo
n, E
C2
1868
to
1981
The
firm
was
est
ablis
hed
by S
amue
l Mon
tagu
(la
ter
Lor
d Sw
ayth
ling)
, in
addi
tion
to S
. Mon
tagu
&
Co.
, to
prov
ide
role
s fo
r so
me
of h
is s
ons
who
, by
virt
ue o
f the
ir n
umbe
rs, c
ould
not
bec
ome
part
-ne
rs in
S. M
onta
gu.11
0 The
firm
was
con
trol
led
by S
amue
l Mon
tagu
unt
il 19
08 w
hen
it be
cam
e in
depe
nden
t. A
ssur
Key
ser
retir
ed fr
om t
he fi
rm in
189
0111
dur
ing
the
inte
rwar
per
iod
the
firm
was
mai
nly
conc
erne
d w
ith s
ecur
ities
arb
itrag
e be
twee
n Pa
ris,
O
slo,
New
Yor
k an
d L
ondo
n.11
2 It
beca
me
a pr
ivat
e co
mpa
ny in
194
6In
196
2 th
e fir
m m
erge
d w
ith U
llman
n &
Co.
Lim
ited
to b
ecom
e K
eyse
r, U
llman
n L
imite
d. T
he
new
firm
lost
hea
vily
in t
he s
econ
dary
ban
king
cri
sis
in 1
973–
1975
. In
1981
Cha
rter
hous
e Ja
phet
ac
quir
ed K
eyse
r U
llman
n L
imite
d
(con
tinue
d)
(con
tinue
d)
Page 20
380 APPENdIx
Firm
Profi
le
Kle
inw
ort,
Son
s &
Co.
20 F
ench
urch
Str
eet,
Lon
don,
EC
1855
to
1995
Kle
inw
orts
was
foun
ded
in 1
855
by A
lexa
nder
Kle
inw
ort,
alth
ough
its
orig
ins
may
be
trac
ed t
o a
firm
est
ablis
hed
in L
ondo
n by
Her
man
Gre
veru
s in
183
0. H
e fo
rmed
a p
artn
ersh
ip w
ith E
dwar
d C
ohen
in 1
851,
but
ret
ired
in 1
855,
whe
reup
on A
lexa
nder
Kle
inw
ort
beca
me
Coh
en’s
par
tner
, an
d th
e fir
m w
as r
esty
led
Kle
inw
ort
and
Coh
enIn
188
1, H
erm
an G
reve
rus
Kle
inw
ort,
Ale
xand
er’s
eld
er s
on, b
ecam
e a
part
ner.
In 1
883,
whe
n E
dwar
d C
ohen
ret
ired
, Ale
xand
er’s
you
nger
son
, Ale
xand
er d
rake
Kle
inw
ort,
als
o be
cam
e a
part
-ne
r, th
e fir
m b
eing
ren
amed
Kle
inw
ort,
Son
s an
d C
ompa
nyA
lexa
nder
sen
ior
died
in 1
886
and
the
busi
ness
was
con
tinue
d by
his
tw
o so
ns u
ntil
1907
, whe
n th
eir
neph
ew H
erm
an A
nton
And
reae
als
o be
cam
e a
part
ner.
In 1
927,
Sir
Ale
xand
er d
rake
K
lein
wor
t’s
two
sons
, Ern
est
Gre
veru
s K
lein
wor
t an
d C
yril
Hug
h K
lein
wor
t, w
ere
brou
ght
into
th
e pa
rtne
rshi
p. S
ir A
lexa
nder
dra
ke K
lein
wor
t di
ed in
193
5. H
is b
roth
er H
erm
an G
reve
rus
Kle
inw
ort
with
drew
com
plet
ely
from
the
par
tner
ship
in 1
939
and
died
in 1
942
In 1
948
the
part
ners
hip
beca
me
a pr
ivat
e lim
ited
com
pany
. In
1961
a m
erge
r w
ith t
he fi
rm o
f R
ober
t B
enso
n, L
onsd
ale
and
Com
pany
, inv
estm
ent
bank
ers,
cre
ated
Kle
inw
ort,
Ben
son
Lim
ited.
, w
hich
was
acq
uire
d by
dre
sdne
r B
ank
in J
une
1995
Kno
wle
s &
Fos
ter
48 M
oorg
ate
Stre
et,
Lon
don,
EC
1826
to
1965
In 1
826
prin
cipa
ls in
volv
ed in
the
Bra
zilia
n tr
ade.
In
1828
foun
ded
as F
oste
r B
roth
ers
but
rena
med
in
185
3 as
Kno
wle
s &
Fos
ter.
It s
peci
alis
ed in
tra
de b
etw
een
Bri
tain
, Por
tuga
l, an
d B
razi
l. It
was
at
var
ious
tim
es a
s ba
nker
s to
Por
tugu
ese
Roy
al F
amily
and
to
the
Bra
zilia
n E
mpe
ror
Tho
mas
Fos
ter
Kno
wle
s w
as t
he m
ost
activ
e pa
rtne
r (1
878–
1939
). H
e cr
eate
d th
e E
nglis
h B
ank
of
Rio
de
Jane
iro,
act
ed a
s di
rect
or o
f Lon
don
and
Riv
er P
late
Ban
k, a
nd t
he R
io F
lour
Mill
s C
o.11
3
In 1
928
the
firm
acq
uire
d Pi
nto
Lei
te &
Nep
hew
s. I
n 19
65 K
now
les
& F
oste
r fa
iled
(con
tinue
d)
(con
tinue
d)
Page 21
APPENdIx 381
Firm
Profi
le
Kön
ig B
roth
ers
1 St
Mic
hael
’s A
lley,
Cor
nhill
,L
ondo
n, E
C
c.19
14 t
o 19
22Fr
itz K
önig
was
the
dec
ease
d fa
ther
of t
he t
wo
brot
hers
who
wer
e th
e pa
rtne
rs in
Kön
igs.
He
pro-
vide
d ca
pita
l for
the
firm
for
a pe
riod
of fi
ve y
ears
, aft
er w
hich
it w
as d
ue t
o be
dis
trib
uted
to
the
bene
ficia
ries
of t
heir
fath
er’s
will
, inc
ludi
ng fo
reig
n be
nefic
iari
es—
Ger
man
and
Am
eric
anO
n 30
dec
embe
r 19
22, t
he B
ank
of E
ngla
nd e
nter
ed in
to a
sec
ret
agre
emen
t w
ith t
he B
oard
of
Tra
de a
nd K
önig
Bro
ther
s. T
he fi
rm w
as t
o be
mer
ged
with
Hut
hs a
nd p
rovi
de a
cap
ital i
njec
tion
in r
etur
n fo
r of
ficia
l ass
uran
ces
that
fore
ign
clai
ms
wou
ld n
ot b
e al
low
edL
eopo
ld J
osep
h &
Son
s10
–11
Aus
tin F
riar
s,L
ondo
n, E
C2
1919
to
2004
Leo
pold
Jos
eph
was
app
oint
ed a
man
ager
of t
he L
ondo
n of
fice
of S
wis
s B
ankv
erin
in 1
910.
114 H
e re
sign
ed in
191
7.11
5 Lat
er e
nter
ing
into
par
tner
ship
with
Her
man
n St
raus
s an
d ot
hers
as
Leo
pold
Jo
seph
& S
trau
ss, f
orei
gn b
anke
rs, u
ntil
1929
whe
n it
was
dis
solv
ed.11
6 Lat
er fo
rmin
g L
eopo
ld
Jose
ph &
Son
s, w
hich
was
incl
uded
in t
he B
anke
rs’ R
etur
ns fr
om 1
931
to 1
938
Fam
ily c
ontr
ol t
rans
ferr
ed in
196
3. F
loat
ed o
n th
e L
ondo
n St
ock
Exc
hang
e in
197
1.11
7 Sur
vive
d th
e se
cond
ary
bank
ing
cris
is o
f 197
3–19
75 b
y ob
tain
ing
a ca
pita
l inj
ectio
n fr
om t
wo
Wes
t G
erm
an
bank
s in
ret
urn
for
25%
sta
ke.11
8 Acq
uire
d by
the
Ban
k of
NT
But
terfi
eld
of B
erm
uda
in 2
00411
9
W. L
aden
burg
& C
o.10
Ang
el C
ourt
,L
ondo
n, E
CLa
ter:
18 S
t H
elen
’s P
lace
,L
ondo
n, E
C3
1785
to
1923
Est
ablis
hed
in 1
785.
The
firm
wen
t in
to li
quid
atio
n in
192
3 ow
ing
the
Ban
k of
Eng
land
abo
ut
£300
,000
on
pre-
mor
ator
ium
acc
epta
nce
adva
nces
Art
hur
Lad
enbu
rg b
ecam
e a
part
ner
in J
. C. i
m T
hurn
, but
thi
s pa
rtne
rshi
p w
as d
isso
lved
in 1
925.
In
192
6 he
pro
pose
d st
artin
g an
issu
ing
hous
e un
der
the
old
nam
e of
W. L
aden
burg
, but
it w
as
not
a su
cces
s an
d th
e bu
sine
ss w
as s
old
to t
he S
anct
uary
Tru
st. H
e re
mai
ned
in t
he fi
rm o
n a
sala
ried
bas
isH
enry
Lad
enbu
rg d
ied
in 1
933
leav
ing
an e
stat
e of
£10
0T
he li
quid
atio
n of
the
firm
was
com
plet
ed in
193
9, t
he d
ebt
to t
he B
ank
bein
g so
me
£190
,000
120
(con
tinue
d)
(con
tinue
d)
Page 22
382 APPENdIx
Firm
Profi
le
Laz
ard
Bro
ther
s &
Co.
40 T
hrea
dnee
dle
Stre
et,
Lon
don,
EC
1870
to
Pre
sent
Laz
ard’
s ro
ots
bega
n in
the
184
0s w
ith t
he e
mig
ratio
n of
five
Fre
nch
brot
hers
and
sev
eral
cou
sins
to
the
Uni
ted
Stat
es. I
n 18
48 L
azar
d Fr
ères
& C
o. w
as fo
unde
d in
New
Orl
eans
as
a dr
y go
ods
mer
chan
t. B
y 18
51, L
azar
d Fr
ères
had
mov
ed t
o Sa
n Fr
anci
sco,
whe
re it
wou
ld e
xpan
d in
to
bank
ing
and
fore
ign
exch
ange
. In
the
sam
e ye
ar, o
ne o
f the
bro
ther
s op
ened
a N
ew Y
ork
offic
e. I
n 18
54, L
azar
d Fr
ères
ope
ned
an o
ffice
in P
aris
, and
in 1
870
one
in L
ondo
n. T
he fi
rm e
volv
ed in
to
the
thre
e ‘H
ouse
s of
Laz
ard’
121
In 1
920
arra
ngem
ents
wer
e m
ade
by S
. Pea
rson
& S
ons
to b
uy 4
0% o
f the
firm
from
the
Fre
nch
part
ners
, bri
ngin
g E
nglis
h sh
areh
olde
rs’ i
nter
ests
to
53%
. In
1931
furt
her
purc
hase
s by
S. P
ears
on
& S
ons
incr
ease
d its
hol
ding
to
80%
with
the
Fre
nch
firm
ow
ning
20%
122
In J
uly
1931
, irr
egul
ariti
es w
ere
disc
over
ed in
the
Lon
don
firm
’s B
russ
els
bran
ch, w
hich
indi
cate
d ne
t lia
bilit
ies
of £
5.85
m. T
he B
ank
of E
ngla
nd le
nt £
3m t
o S.
Pea
rson
& S
ons
to r
escu
e th
e fir
m.
As
part
of t
his
resc
ue a
ll fo
reig
n of
fices
of t
he L
ondo
n fir
m w
ere
to b
e cl
osed
123
H. S
. Lef
evre
& C
o.16
Bis
hops
gate
,L
ondo
n, E
C
c.17
90 t
o 19
49In
the
nin
etee
nth
cent
ury,
the
firm
bec
ame
clos
ely
asso
ciat
ed w
ith t
he c
omm
erci
al e
nter
pris
es
of B
aron
Lud
wig
Kno
op, i
nclu
ding
de
Jers
ey &
Co.
in M
anch
este
r.124 T
he fi
rm la
ter
beca
me
invo
lved
in C
anad
ian
and
US
railw
ay s
ecur
ities
125
Alth
ough
Gas
pard
Far
rer
join
ed B
arin
gs in
190
2 an
d re
mai
ned
with
the
m u
ntil
1925
, he
rem
aine
d a
part
ner
in t
his
firm
and
eve
n re
turn
ed t
o it
afte
r 19
25In
193
0 its
fore
ign
busi
ness
was
acq
uire
d by
the
Bri
tish
Ove
rsea
s B
ank.
due
to
succ
essi
on p
rob-
lem
s, t
he s
ole
surv
ivin
g pa
rtne
r w
ound
-up
the
firm
in 1
94912
6
(con
tinue
d)
(con
tinue
d)
Page 23
APPENdIx 383
Firm
Profi
le
Gor
don
Lei
th &
Co.
7 L
othb
ury,
Lon
don,
EC
2(F
rom
192
7, t
he E
urop
ean
Mer
chan
t B
anki
ng C
o. L
td.
oper
ated
from
the
sam
e ad
dres
s)12
7
1922
to
1927
and
193
6–c.
1941
Unt
il 19
22 G
ordo
n L
eith
was
a p
artn
er in
Spe
yer
Bro
ther
s. T
he n
ew fi
rm w
as e
stab
lishe
d af
ter
the
dem
ise
of S
ir E
dgar
Spe
yer.
It a
cted
as
the
Lon
don
agen
ts fo
r Sp
eyer
& C
o., N
ew Y
ork
In M
arch
192
7 G
ordo
n L
eith
was
tak
en in
to p
artn
ersh
ip w
ith K
uhn,
Loe
b &
Co.
The
firm
, G
ordo
n L
eith
& C
o., w
as d
isso
lved
and
the
par
tner
s be
cam
e di
rect
ors
of t
he E
urop
ean
Mer
chan
t B
anki
ng C
o. L
td.,
repr
esen
ting
Kuh
n. L
oeb
& C
o. in
Eur
ope.
Thi
s ar
rang
emen
t w
as fa
irly
loos
e an
d by
193
6 G
ordo
n L
eith
& C
o. h
ad b
een
refo
rmed
128
Gor
don
Lei
th d
ied
in 1
941
Lon
don
Mer
chan
t B
ank
38 L
omba
rd S
tree
t,L
ondo
n, E
C
1873
to
1939
Est
ablis
hed
in 1
873
as t
he L
ondo
n &
Han
seat
ic B
ank
Ltd
. Sev
erel
y da
mag
ed b
y th
e Fi
rst
Wor
ld
War
, it
was
reo
rgan
ised
in 1
916
as t
he L
ondo
n M
erch
ant
Ban
k L
td.
At
the
outb
reak
of t
he S
econ
d W
orld
War
, it
was
tra
nsfe
rred
to
Gui
nnes
s M
ahon
& C
o. I
t w
as la
ter
rena
med
Lon
don
Mer
chan
t Se
curi
ties12
9
Mat
heso
n &
Co.
3 L
omba
rd S
tree
t,L
ondo
n, E
C
1848
to
Pre
sent
The
mer
chan
t ho
use
of J
ardi
ne, M
athe
son
was
foun
ded
in C
anto
n in
183
2. I
t de
velo
ped
a cl
ose
rela
tions
hip
with
the
mer
chan
t ba
nkin
g ho
use
Mag
niac
Sm
ith &
Co.
, whi
ch fo
und
itsel
f in
finan
-ci
al d
ifficu
lties
in 1
847.
A n
ew m
erch
ant
bank
ing
part
ners
hip
was
form
ed in
184
8 by
Ale
xand
er
Mat
heso
n, w
ho w
as a
lso
a pa
rtne
r in
Jar
dine
Mat
heso
n. T
he c
onne
ctio
n co
ntin
ues
to t
he p
rese
ntM
edit
erra
nean
Mer
chan
t B
ank
Lim
ited
No
info
rmat
ion
1920
to
1923
(D
id n
ot t
rade
)In
corp
orat
ed o
n 10
Feb
ruar
y 19
20d
isso
lved
on
17 A
ugus
t 19
23N
o ev
iden
ce t
hat
it tr
aded
. Onl
y 4
shar
es a
llott
edM
erch
ant
Ban
k of
Gre
at
Bri
tain
Lim
ited
No
info
rmat
ion
1885
to
1891
[?],
but
bef
ore
1916
(D
id n
ot t
rade
)In
corp
orat
ed o
n 7
Janu
ary
1885
dis
solv
ed o
n 8
dec
embe
r 18
91[?
], b
ut b
efor
e 19
16N
o ev
iden
ce t
hat
it tr
aded
(con
tinue
d)
(con
tinue
d)
Page 24
384 APPENdIx
Firm
Profi
le
Mild
red,
Goy
enec
he &
Co.
8 St
Hel
en’s
Pla
ce,
Lon
don,
EC
By
1921
at:
36 N
ew B
road
Str
eet,
Lon
don,
EC
1796
to
1921
The
firm
car
ried
on
busi
ness
mai
nly
in S
pain
, but
als
o in
Sou
th A
mer
ica
and
Indi
a. I
t ac
ted
as b
ank-
ers
to m
any
impo
rtan
t Sp
ania
rds,
incl
udin
g R
oyal
ty, a
nd w
as a
gent
for
the
Ban
k of
Spa
in. I
n 19
20
it go
t in
to d
ifficu
lties
due
to
failu
re o
f Ban
co d
e B
arce
lona
and
els
ewhe
re in
Spa
in. I
t su
spen
ded
paym
ents
in M
arch
192
1130
Sam
uel M
onta
gu &
Co.
60 O
ld B
road
Str
eet,
Lon
don,
EC
1853
to
1974
Spec
ialis
ts in
arb
itrag
e or
tra
ffick
ing
bills
of e
xcha
nge
and
curr
enci
es t
o ta
ke a
ccou
nt o
f rat
es in
di
ffer
ent
cent
res13
1
Ern
est
Fran
klin
’s t
wo
brot
hers
wer
e pa
rtne
rs in
A. K
eyse
r &
Co.
Aft
er t
he d
eath
of i
ts fo
unde
r, Sa
mue
l Mon
tagu
, the
firm
was
ow
ned
by a
fam
ily t
rust
, Mon
tagu
T
rust
Mid
land
Ban
k ac
quir
ed a
sta
ke in
the
tru
st in
196
7, a
nd in
197
4 ac
quir
ed t
he fi
rmM
orga
n, G
renf
ell &
Co.
22 O
ld B
road
Str
eet,
Lon
don,
EC
1838
to
1989
Geo
rge
Peab
ody,
a p
artn
er in
Pea
body
Rig
gs a
nd C
ompa
ny o
f Bal
timor
e, e
stab
lishe
d hi
s ow
n bu
si-
ness
as
a m
erch
ant
in L
ondo
n in
183
8. H
e en
ded
his
asso
ciat
ion
with
the
Am
eric
an fi
rm in
184
3.
The
firm
was
kno
wn
as G
eorg
e Pe
abod
y an
d C
ompa
ny, m
erch
ants
In 1
854
Juni
us S
penc
er M
orga
n be
cam
e a
part
ner
and
upon
Pea
body
’s r
etir
emen
t in
186
4 th
e st
yle
of t
he fi
rm b
ecam
e J.
S. M
orga
n an
d C
ompa
nyE
dwar
d G
renf
ell b
ecam
e a
full
part
ner
in 1
904
and
the
styl
e M
orga
n G
renf
ell w
as a
dopt
ed o
n 1
Janu
ary
1910
. Bet
wee
n 19
18 a
nd 1
934
the
bank
was
a p
riva
te u
nlim
ited
com
pany
, and
in 1
934
it be
cam
e a
priv
ate
limite
d co
mpa
nyIn
198
9 M
orga
n G
renf
ell w
as a
cqui
red
by d
euts
che
Ban
kM
orri
s, P
revo
st &
Co.
25 O
ld B
road
Str
eet,
Lon
don,
EC
1822
to
1914
Est
ablis
hed
in t
he p
rovi
nces
in 1
822,
mov
ing
to L
ondo
n in
183
8132
Aug
ust
Prov
ost
was
Gov
erno
r of
the
Ban
k of
Eng
land
in 1
901.
Bar
ing
Bro
ther
s ac
quir
ed t
he fi
rm in
19
1413
3
(con
tinue
d)
(con
tinue
d)
Page 25
APPENdIx 385
Firm
Profi
le
Nel
ke, P
hilli
ps &
Co.
4 M
oorg
ate
Stre
et,
Lon
don,
EC
By
1921
at:
9 A
ngel
Cou
rt,
Lon
don,
EC
1917
to
1921
The
sto
ckbr
okin
g fir
m o
f the
sam
e na
me
was
dis
solv
ed in
Apr
il 19
17 a
nd t
he n
ame
tran
sfer
red
to a
ne
w fi
rm o
f mer
chan
t ba
nker
sT
he b
usin
ess
was
wou
nd-u
p in
Sep
tem
ber
1921
.134 T
he w
indi
ng-u
p w
as h
andl
ed b
y C
ull &
Co.
, w
here
Her
man
n M
arx
beca
me
a pa
rtne
r
Neu
man
n, L
uebe
ck &
Co.
241
to 2
50 S
alis
bury
Hou
se,
Lon
don
Wal
l,L
ondo
n, E
C
1907
to
c.19
45Si
gism
und
Neu
man
n w
as b
orn
in 1
857
in B
avar
ia, t
he s
on o
f a G
erm
an J
ew. H
e em
igra
ted
to S
outh
A
fric
a in
his
late
tee
ns. I
n 19
07 h
e es
tabl
ishe
d N
eum
ann,
Lue
beck
in t
he C
ity w
ith t
he fo
rmer
L
ondo
n m
anag
er o
f the
dre
sdne
r B
ank13
5
Foun
ding
mem
ber
of t
he A
ccep
ting
Hou
ses
Com
mitt
eeIn
clud
ed in
Ban
kers
’ Ret
urn
for
1945
B. N
ewga
ss &
Co.
Ltd
.75
& 7
6 L
omba
rd S
tree
t,L
ondo
n, E
C
1911
to
1937
Ben
jam
in N
ewga
ss w
as a
Liv
erpo
ol b
anke
r w
ho t
rans
ferr
ed h
is b
usin
ess
to L
ondo
n. H
e ha
d la
rge
Am
eric
an in
tere
sts.
136 T
he c
ompa
ny w
as in
corp
orat
ed t
o ta
ke o
ver
the
inte
rest
s of
Mes
srs
B.
New
gass
& C
o. in
191
1. T
he c
ompa
ny w
ent
into
vol
unta
ry li
quid
atio
n in
193
7137
Ost
rer
Bro
ther
s4
Bro
ad S
tree
t Pl
ace
Lon
don
EC
From
c.1
925:
25–3
1 M
oorg
ate
Lon
don
EC
1921
to
1927
Isid
ore
Ost
rer
set
up t
he L
othb
ury
Inve
stm
ent
Cor
pora
tion
in 1
919
and
Ost
rer
Bro
ther
s M
erch
ant
Ban
k w
ith t
wo
of h
is b
roth
ers,
Mau
rice
and
Mar
k, in
192
1. I
n th
e 19
20s
Ost
rer
Bro
ther
s w
ere
resp
onsi
ble
for
a nu
mbe
r of
com
pany
flot
atio
ns, t
he m
ost
impo
rtan
t of
whi
ch w
ere
Am
alga
mat
ed
Tex
tiles
in 1
920
and
the
Gau
mon
t-B
ritis
h Pi
ctur
e C
orpo
ratio
n in
192
7. T
he c
omin
g of
the
‘tal
k-ie
s’ e
ncou
rage
d Is
idor
e to
ass
ume
dire
ct c
ontr
ol o
f Gau
mon
t-B
ritis
h. I
n A
ugus
t 19
29 h
e be
cam
e ch
airm
an, w
ith M
ark
as v
ice-
chai
rman
and
Mau
rice
join
t m
anag
ing
dire
ctor
.138 F
rom
192
7 M
ark
Ost
rer
beca
me
the
sole
par
tner
in O
stre
r B
roth
ers.
139 W
hile
the
des
crip
tion
of m
erch
ant
bank
was
st
ill u
sed,
the
firm
had
ess
entia
lly b
ecom
e a
film
pro
duct
ion
com
pany
by
1927
(con
tinue
d)
(con
tinue
d)
Page 26
386 APPENdIx
Firm
Profi
le
Par
ry, M
urra
y &
Co.
70 G
race
chur
ch S
tree
t,L
ondo
n, E
C
c.18
00 t
o 19
20 (
with
draw
al fr
om b
anki
ng)
The
com
pany
was
est
ablis
hed
in t
he la
te e
ight
eent
h ce
ntur
y by
Tho
mas
Par
ry a
nd m
ade
its n
ame
initi
ally
as
a m
anuf
actu
ring
and
tra
ding
hou
se in
Ind
ia. P
arry
Mur
ray
with
drew
from
ban
king
in
1920
to
conc
entr
ate
on m
erch
antin
g140
In 1
937
John
Rob
ert
Mur
ray
join
ed a
s a
part
ner
and
regi
ster
ed P
arry
Mur
ray
as a
com
pany
in
Lon
don.
In
1960
the
firm
beg
an d
istr
ibut
ing
hand
wov
en fa
bric
s fo
r fu
rnis
hing
s141
Pin
to L
eite
& N
ephe
ws
45 M
oorg
ate
Stre
et,
Lon
don,
EC
1846
to
1928
The
firm
com
men
ced
trad
ing
as a
mer
chan
t in
Man
ches
ter
in 1
846,
but
by
1890
had
add
ed a
L
ondo
n-ba
sed
bank
ing
oper
atio
n. I
t w
as o
pera
ting
as a
n ac
cept
ing
hous
e at
the
out
brea
k of
war
in
1914
and
was
incl
uded
in B
anke
rs’ R
etur
n fo
r 19
14In
Aug
ust
1922
it s
till o
wed
the
Ban
k of
Eng
land
£24
8,00
0 on
pre
-mor
ator
ium
bill
s.14
2 It
was
gi
ven
a sp
ecia
l adv
ance
whi
ch w
as r
epai
d w
ithin
tw
o ye
ars,
but
by
1926
the
firm
was
dec
lare
d ba
nkru
pt.14
3 In
1928
Kno
wle
s &
Fos
ter
acqu
ired
the
firm
, but
by
the
1930
s th
e M
anch
este
r op
erat
ion
was
clo
sed14
4
Ral
li B
roth
ers
35 F
insb
ury
Cir
cus,
Lon
don,
EC
1818
to
1959
The
Ral
li fa
mily
, ori
gina
lly fr
om t
he G
reek
isla
nd o
f Chi
os, w
as in
volv
ed fr
om t
he e
ight
eent
h ce
ntur
y in
the
mer
cant
ile t
rade
bet
wee
n th
e L
evan
t an
d E
urop
e w
ith b
ases
in s
ever
al E
urop
ean
and
Med
iterr
anea
n po
rts.
In
1818
, tw
o br
othe
rs, J
ohn
Step
hen
Ral
li an
d E
ustr
atio
Ste
phen
Ral
li,
esta
blis
hed
a fir
m in
Lon
don.
Fro
m 1
826
it w
as b
ased
at
25 F
insb
ury
Cir
cus,
whe
re it
rem
aine
d fo
r ne
arly
150
yea
rs t
o 19
61T
he fi
rm t
rade
d in
cot
ton
good
s, a
nd a
Man
ches
ter
bran
ch w
as o
pene
d in
182
7, a
Cal
cutt
a br
anch
in
185
1, a
nd a
Bom
bay
bran
ch t
en y
ears
late
r. In
187
1 a
bran
ch w
as o
pene
d in
New
Yor
k, w
hich
w
as c
lose
d do
wn
in 1
931,
and
the
bus
ines
s hi
ther
to w
as d
one
thro
ugh
an a
gent
The
firm
rem
aine
d a
fam
ily p
artn
ersh
ip u
ntil
1931
, whe
n it
beca
me
a pr
ivat
e lim
ited
com
pany
, Ral
li B
roth
ers
Lim
ited.
It
beca
me
a pu
blic
com
pany
in 1
941,
and
in 1
959
was
tak
en o
ver
by G
ener
al
Gua
rant
ee C
orpo
ratio
n L
imite
d. I
n 19
69/
70 it
was
acq
uire
d by
Sla
ter
Wal
ker
(con
tinue
d)
(con
tinue
d)
Page 27
APPENdIx 387
Firm
Profi
le
R. R
aphe
al &
Son
s2
Aus
tin F
riar
s,L
ondo
n, E
C
1870
to
1983
Spec
ialis
ts in
arb
itrag
e or
tra
ffick
ing
bills
of e
xcha
nge
and
curr
enci
es t
o ta
ke a
ccou
nt o
f rat
es in
di
ffer
ent
cent
res.
145 M
ainl
y a
stoc
kbro
ker
that
con
duct
ed b
anki
ng b
usin
ess
from
187
0146
In 1
983
the
bank
ing
busi
ness
was
sol
d to
Fro
st G
roup
, and
the
sto
ckbr
okin
g co
ntin
ued
as a
spe
cial
-is
t pr
ivat
e cl
ient
sto
ckbr
oker
147
Rat
hbon
e B
roth
ers
& C
o.R
oyal
Liv
er B
uild
ing
Pier
Hea
dL
iver
pool
1742
to
Pre
sent
The
ear
liest
rec
ord
of t
he R
athb
one
busi
ness
dat
es fr
om 1
742,
alth
ough
it is
like
ly t
hat
the
busi
ness
w
as o
pera
ting
in L
iver
pool
bef
ore
that
dat
e. O
rigi
nally
mer
chan
t an
d sh
ipbu
ilder
s, it
dev
elop
ed
a tr
adin
g ne
twor
k ac
ross
the
Far
Eas
t, E
urop
e an
d th
e A
mer
icas
. By
the
earl
y ni
nete
enth
cen
tury
m
ost
of t
he t
ea im
port
ed t
o B
rita
in c
ame
thro
ugh
Rat
hbon
esW
illia
m L
idde
rdal
e, a
par
tner
in 1
864–
1898
, was
Gov
erno
r of
the
Ban
k of
Eng
land
dur
ing
the
Bar
ings
Cri
sis
in 1
890
Rat
hbon
e B
roth
ers
is n
ow o
ne o
f the
UK
’s le
adin
g pr
ovid
ers
of in
vest
men
t m
anag
emen
t se
rvic
es fo
r pr
ivat
e cl
ient
s, c
hari
ties
and
prof
essi
onal
adv
iser
s148
Rea
, War
ren
and
McL
enna
n L
imit
ed3
St H
elen
’s P
lace
Lon
don,
EC
1919
to
1999
Rea
, War
ren
and
McL
enna
n L
td w
as in
corp
orat
ed o
n 17
dec
embe
r 19
19. I
t ad
opte
d th
e na
me
Rea
Bro
ther
s in
194
3. I
n 19
50 it
acq
uire
d th
e ba
nkin
g fir
m o
f Wal
ter
H. S
alom
on &
Co.
, whi
ch
was
est
ablis
hed
in L
ondo
n in
193
8.14
9 The
firm
bec
ame
a m
embe
r of
the
Acc
eptin
g H
ouse
s C
omm
ittee
in 1
969.
It
was
acq
uire
d by
Clo
se B
roth
ers
in 1
999
Ree
ves,
Whi
tbur
n &
Co.
1859
to
1938
Foun
ded
1859
. Ban
kers
and
ban
king
& d
isco
unt
agen
ts15
0
Old
est
disc
ount
hou
se in
Lon
don.
Con
vert
ed t
o a
limite
d co
mpa
ny in
192
5151
Bus
ines
s ta
ken
over
by
Nat
iona
l dis
coun
t fr
om 2
5 Ju
ly 1
93815
2
(con
tinue
d)
(con
tinue
d)
Page 28
388 APPENdIx
Firm
Profi
le
Rod
ocan
achi
, Son
s &
Co.
Palm
erst
on H
ouse
,12
9 O
ld B
road
St.
,L
ondo
n, E
C
1830
to
1930
The
firm
was
sta
rted
in 1
830
as m
erch
ants
and
ban
kers
with
inte
rest
s in
shi
ppin
g. I
t w
as in
clud
ed in
th
e B
anke
rs’ R
etur
n fo
r 19
14A
fter 1
925
the
Rod
ocan
achi
fam
ily w
ere
no lo
nger
con
nect
ed w
ith th
e fir
m. I
n Fe
brua
ry 1
929
d. N
. C
opsid
es b
ecam
e a
part
ner.
He
was
late
r acc
used
of r
eckl
ess fi
nanc
ial b
usin
ess t
hat l
ed to
the
bank
rupt
cy
of th
e fir
m in
193
0, re
sulti
ng fr
om b
ad d
ebts
due
from
faile
d G
erm
an a
nd I
talia
n tr
adin
g pa
rtne
rsN
. M. R
oths
child
& S
ons
New
Cou
rt,
St S
with
in’s
Lan
e,L
ondo
n, E
C
1811
to
Pre
sent
In th
e la
te e
ight
eent
h ce
ntur
y an
d ea
rly n
inet
eent
h ce
ntur
y, M
ayer
Am
sche
l Rot
hsch
ild r
ose
to b
ecom
e on
e of
Eur
ope’
s m
ost p
ower
ful b
anke
rs in
Eur
ope.
His
sons
sta
rted
ban
king
ope
ratio
ns in
the
vario
us
capi
tals
of E
urop
e, in
clud
ing
send
ing
his
third
son
, Nat
han
May
er R
oths
child
, to
Eng
land
Nat
han
May
er R
oths
child
firs
t se
ttle
d in
Man
ches
ter,
whe
re h
e es
tabl
ishe
d a
busi
ness
in fi
nanc
e an
d te
xtile
tra
ding
. He
late
r m
oved
to
Lon
don,
whe
re h
e fo
unde
d N
.M. R
oths
child
& S
ons
in 1
811,
m
akin
g a
fort
une
in t
he g
over
nmen
t bo
nds
mar
ket
The
Fir
st W
orld
War
mar
ked
a ch
ange
of f
ortu
ne a
nd e
mph
asis
for
Rot
hsch
ilds.
Aft
er t
he W
ar, t
he
firm
beg
an a
ste
ady
tran
sitio
n to
war
ds a
dvis
ory
wor
k an
d se
curi
ties
issu
ance
for
com
mer
cial
con
-ce
rns.
It
cont
inue
s in
thi
s ro
le t
oday
A. R
üffe
r &
Son
s39
Lom
bard
Str
eet,
Lon
don,
EC
1872
to
1946
The
acc
eptin
g ho
use
A. R
üffe
r w
as fo
unde
d in
187
2 an
d sp
ecia
lised
in fi
nanc
ing
the
Ang
lo-F
renc
h an
d B
elgi
an w
ool t
rade
. It
was
a p
re-m
orat
oriu
m a
ccep
tanc
e de
btor
to
the
Ban
k of
Eng
land
. In
1922
, rec
ogni
sing
the
nee
d fo
r lo
nger
-ter
m s
uppo
rt, t
he fi
rm w
as in
corp
orat
ed a
s a
limite
d co
m-
pany
with
the
Ban
k of
Eng
land
tak
ing
£700
,000
ord
inar
y sh
ares
out
of a
tot
al o
f jus
t un
der
£1
mill
ion
in s
ettle
men
t of
the
firm
’s d
ebt
The
Ban
k of
Eng
land
’s s
hare
s w
ere
held
by
the
Secu
ritie
s T
rust
. Rüf
fers
sus
tain
ed lo
sses
in 1
930
and
1931
but
man
aged
to
surv
ive
until
Wor
ld W
ar T
wo.
det
erio
ratin
g co
nditi
ons
in F
ranc
e an
d B
elgi
um, a
nd t
he c
all-
up o
f som
e of
the
dir
ecto
rs m
ade
win
ding
-up
inev
itabl
eV
olun
tary
liqu
idat
ion
cam
e in
194
1, a
nd t
he li
ttle
ban
king
bus
ines
s th
at r
emai
ned
was
tra
nsfe
rred
to
Gly
n M
ills
in 1
946.
The
com
pany
was
fina
lly d
isso
lved
in 1
96415
3
(con
tinue
d)
(con
tinue
d)
Page 29
APPENdIx 389
Firm
Profi
le
Sale
& C
o.21
Old
Bro
ad S
tree
t,L
ondo
n, E
CFr
om 1
934:
10 S
t. S
with
in’s
Lan
e,L
ondo
n, E
C4
From
193
9:22
6 C
entr
al B
uild
ings
,So
uthw
ark
Stre
et,
Lon
don,
SE
1
1907
–194
6 (?
)Sa
le &
Co.
wer
e fo
reig
n m
erch
ants
in Y
okoh
ama
until
190
3. F
rom
190
4 to
190
7 Sa
le &
Fra
zar
oper
ated
as
trad
e an
d in
sura
nce
agen
ts in
Jap
an, i
nclu
ding
Cha
rles
V. S
ale.
154
In 1
907
Sale
& C
o. w
as d
escr
ibed
in t
he B
anke
rs’ R
etur
ns a
s th
e “L
ondo
n H
ouse
of S
ale
and
Fraz
er, L
td.,
of Y
okoh
ama,
a C
ompa
ny r
egis
tere
d un
der
Japa
nese
law
”155
In t
he P
ost
Offi
ce d
irec
tory
for
1914
, it
was
list
ed u
nder
Mer
chan
ts—
Japa
n. I
nclu
ded
in B
anke
rs’
Ret
urn
for
1907
–194
6, a
part
from
191
2 an
d 19
25C
harl
es V
. Sal
e be
cam
e d
eput
y G
over
nor
of t
he H
udso
n’s
Bay
Com
pany
in 1
915,
suc
ceed
ing
Lor
d K
inde
rsle
y as
Gov
erno
r in
192
5156
In 1
930
a sp
ecia
l com
mit
tee
of in
quir
y ex
amin
ed t
he a
ffai
rs o
f th
e H
udso
n’s
Bay
Com
pany
, in
clud
ing
the
deal
ing
of t
he G
over
nor
and
his
firm
. Thi
s in
quir
y w
as t
he r
esul
t of
cha
rges
m
ade
by M
r C
. L. N
ordo
n. d
urin
g th
e Fi
rst
Wor
ld W
ar, M
r Sa
le a
nd h
is f
irm
mad
e ve
ry la
rge
prof
its
by c
hart
erin
g sh
ips
and
purc
hasi
ng s
uppl
ies
on b
ehal
f of
cer
tain
Alli
ed
Gov
ernm
ents
. Thi
s bu
sine
ss c
onti
nued
to
1921
. Alt
houg
h th
e co
mm
itte
e w
as c
riti
cal o
f so
me
of t
he a
ctio
ns o
f th
e bo
ard
of t
he H
udso
n’s
Bay
Com
pany
, it
foun
d “n
o w
ant
of g
ood
fait
h”T
he fi
rm fa
iled
in 1
965
with
a d
efici
t of
£3.
8m o
wed
mai
nly
to J
apan
ese
bank
s157
F. G
. Sal
e &
Son
s20
Bis
hops
gate
,L
ondo
n, E
C2
1915
–193
3d
eale
rs in
Jap
anes
e an
d M
unic
ipal
bon
ds. F
raze
r &
Com
pany
wer
e its
New
Yor
k co
rres
pond
ents
158
Bel
ieve
d to
hav
e be
en e
stab
lishe
d in
191
5 by
Fre
deri
ck G
eorg
e Sa
le, m
erch
ant
bank
er a
nd s
ole
part
ner.
Incl
uded
in t
he B
anke
rs’ R
etur
n of
191
8–19
21W
ent
into
vol
unta
rily
liqu
idat
ion
on 1
May
193
3 w
hen
Alfr
ed V
Sal
e w
as c
hair
man
.159 B
y th
at t
ime
it w
as a
lim
ited
com
pany
(con
tinue
d)
(con
tinue
d)
Page 30
390 APPENdIx
Firm
Profi
le
M. S
amue
l & C
o.25
& 2
7 B
isho
psga
te,
Lon
don,
EC
1831
to
1965
The
firm
was
hig
hly
succ
essf
ul in
Far
Eas
tern
tra
de. I
n th
e ea
rly
1890
s su
bsta
ntia
l pro
fits
wer
e m
ade
in t
he r
ice
trad
e, w
hich
wer
e re
inve
sted
in d
evel
opin
g oi
lfiel
ds in
Bor
neo16
0
From
189
7 th
e fir
m m
anag
ed t
he S
hell
Tra
nspo
rt &
Tra
ding
Com
pany
. The
am
alga
mat
ion
of S
hell
with
Roy
al d
utch
Pet
role
um C
ompa
ny in
190
7 le
d to
the
res
igna
tion
of M
arcu
s Sa
mue
l fro
m h
is
epon
ymou
s fir
m w
hich
the
n ce
ased
to
man
age
Shel
l161
The
old
par
tner
ship
was
inco
rpor
ated
in 1
920
In 1
965
the
firm
mer
ged
with
Phi
lip H
ill, H
iggi
nson
, Erl
ange
rs t
o fo
rm H
ill S
amue
l, w
hich
was
ac
quir
ed b
y th
e T
rust
ee S
avin
gs B
ank
(TSB
) in
198
7162
Dav
id S
asso
on &
Co.
Ltd
.12
Lea
denh
all S
tree
t,L
ondo
n, E
C
1858
to
1983
dav
id S
asso
on w
as b
orn
in B
aghd
ad in
179
2. H
e m
oved
to
Bom
bay
in 1
832
and
esta
blis
hed
a tr
ad-
ing
firm
. Cot
ton
and
opiu
m w
ere
the
two
com
mod
ities
on
whi
ch t
he fi
rm b
uilt
its s
ucce
ssIn
185
8 d
avid
’s e
ldes
t so
n Sa
ssoo
n d
avid
Sas
soon
was
sen
t to
Lon
don
to e
stab
lish
dav
id S
asso
on
& C
o. T
he fi
rm’s
suc
cess
in s
uppl
ying
Ind
ian
cott
on a
s a
repl
acem
ent
for
Am
eric
an c
otto
n du
ring
th
e ci
vil w
ar t
rans
ferr
ed t
he h
eart
of t
he b
usin
ess
to B
rita
in. B
ranc
hes
wer
e op
ened
in L
iver
pool
an
d M
anch
este
rA
noth
er s
on, A
lber
t A
bdul
lah
dav
id S
asso
on, f
urth
er d
iver
sifie
d th
e fir
m’s
inte
rest
s in
the
late
ni
nete
enth
cen
tury
, est
ablis
hing
tex
tile
mill
s an
d a
wet
doc
k in
Bom
bay.
He
sett
led
in E
ngla
nd in
18
76 a
nd w
as c
reat
ed a
bar
onet
in 1
890.
He
was
invo
lved
in t
he fo
rmat
ion
of t
he H
ong
Kon
g &
Sh
angh
ai B
ank
in 1
865
and
esta
blis
hed
a co
nnec
tion
betw
een
the
firm
and
the
Im
peri
al B
ank
of
Pers
ia16
3
The
firm
had
its
bank
ing
licen
ce w
ithdr
awn
by t
he B
ank
of E
ngla
nd in
198
3164
(con
tinue
d)
(con
tinue
d)
Page 31
APPENdIx 391
Firm
Profi
le
E. D
. Sas
soon
& C
o.17
St
Hel
en’s
Pla
ce,
Lon
don,
EC
Indi
a H
ouse
,73
Whi
twor
th S
tree
t,M
anch
este
r
1867
to
1972
On
the
deat
h of
dav
id S
asso
on in
186
4 E
lias
saw
him
self
as h
is b
roth
er’s
, Alb
ert
Sass
oon’
s, p
er-
man
ent
depu
ty, b
ut t
hree
yea
rs la
ter
he r
esig
ned
from
dav
id S
asso
on &
Son
s. T
akin
g hi
s el
dest
so
n, J
acob
(18
44–1
916)
, int
o pa
rtne
rshi
p, h
e es
tabl
ishe
d a
riva
l firm
, E. d
. Sas
soon
& C
o., b
ased
in
Bom
bay
with
offi
ces
in S
hang
hai,
whi
ch c
arri
ed o
n id
entic
al a
ctiv
ities
tra
ding
with
the
sam
e ce
ntre
s as
dav
id S
asso
on &
Son
sIt
was
soon
com
petin
g sig
nific
antly
in o
pium
and
Ind
ian
yarn
, ope
ning
offi
ces i
n E
urop
e, A
fric
a, a
nd
Am
eric
a, a
nd o
utst
rippi
ng th
e or
igin
al fi
rm. T
he tw
o ho
uses
rem
aine
d se
para
te a
nd ri
vals.
Elia
s die
d in
18
80, a
ged
fifty
-nin
e, in
Col
ombo
, Cey
lon,
whi
le v
isitin
g te
a pl
anta
tions
, and
the
busin
ess p
asse
d in
to
the
hand
s of h
is so
ns J
acob
, Edw
ard
(185
3–19
24),
Mey
er (
1855
–192
4), a
nd d
avid
(18
66–1
938)
165
E. d
. Sas
soon
Ban
king
Co.
was
reg
iste
red
in H
ong
Kon
g in
193
0 to
tak
e ov
er t
he b
anki
ng in
tere
sts
of t
he m
erch
ant
firm
. In
1952
it w
as r
egis
tere
d in
the
Bah
amas
. In
1972
it m
erge
d w
ith W
alla
ce
Bro
ther
s un
der
the
title
Wal
lace
Bro
ther
s Sa
ssoo
n B
ank
until
197
4 w
hen
the
Sass
oon
nam
e w
as
drop
ped16
6
J. H
enry
Sch
rode
r &
Co.
145
Lea
denh
all S
tree
t,L
ondo
n, E
C
1818
to
Pre
sent
In 1
818
J. H
enry
Sch
rode
r &
Co.
was
est
ablis
hed
by J
ohan
n H
einr
ich
Schr
öder
.In
192
3 a
firm
was
est
ablis
hed
in N
ew Y
ork,
the
J. H
enry
Sch
rode
r B
anki
ng C
orpo
ratio
n or
Sc
hrob
anco
as
it ca
me
to b
e kn
own
In 1
926
an in
vest
men
t de
part
men
t w
as c
reat
ed t
o de
velo
p th
e in
vest
men
t m
anag
emen
t ac
tiviti
es o
f th
e fir
mIn
196
2 Sc
hrod
ers
acqu
ires
Hel
bert
, Wag
g &
Co.
, a s
tock
bro
king
firm
foun
ded
in 1
823,
whi
ch
spec
ialis
ed in
issu
es fo
r do
mes
tic c
lient
s an
d de
velo
ps a
n im
port
ant
inve
stm
ent
advi
sory
sid
e to
its
busi
ness
167
In 2
000
Citi
grou
p ac
quir
ed S
chro
ders
’ inv
estm
ent
bank
ing
busi
ness
to
form
Sch
rode
rs S
alom
on
Smith
Bar
ney.
168 A
sset
man
agem
ent
and
rela
ted
busi
ness
es n
ow c
ompr
ise
the
who
le o
f Sch
rode
rs
busi
ness
(con
tinue
d)
(con
tinue
d)
Page 32
392 APPENdIx
Firm
Profi
le
Selig
man
Bro
ther
s18
Aus
tin F
riar
s,L
ondo
n, E
C
1864
to
1957
Est
ablis
hed
in 1
864.
169 F
ound
er m
embe
r of
the
Acc
eptin
g H
ouse
s C
omm
ittee
in 1
914
Acq
uire
d by
S. G
. War
burg
& C
o. in
195
7170
Sing
er &
Fri
edla
nder
241/
258,
Sal
isbu
ry H
ouse
,L
ondo
n W
all,
Lon
don,
EC
2
1923
to
2008
Juliu
s Si
nger
foun
ded
a st
ockb
roki
ng fi
rm in
Lon
don
in 1
907.
Sin
ger
was
join
ed s
oon
afte
r by
Ern
st
Frie
dlan
der,
a na
tive
of G
erm
any,
who
se fa
mily
had
bee
n a
prom
inen
t na
me
in B
erlin
ban
king
si
nce
the
mid
dle
of t
he p
revi
ous
cent
ury.
Fri
edla
nder
him
self
had
been
the
foun
der
of t
he fi
rst
mer
chan
t ba
nk t
o op
en in
Sou
th A
fric
a, a
nd h
e ha
d be
en n
amed
as
chai
rman
of t
he J
ohan
nesb
urg
stoc
k ex
chan
ge. F
ried
land
er’s
bac
kgro
und
gave
the
you
ng fi
rm a
str
ong
boos
t in
to t
he g
row
ing
Lon
don
exch
ange
Wor
ld W
ar I
dis
rupt
ed t
radi
ng, a
nd t
he c
ompa
ny, p
ossi
bly
beca
use
of it
s tie
s w
ith G
erm
any,
was
fo
rced
to
with
draw
from
the
Lon
don
exch
ange
. Ins
tead
, Sin
ger
and
Frie
dlan
der
ente
red
the
bank
-in
g in
dust
ry. A
fter
tak
ing
on t
wo
new
par
tner
s, J
uliu
s St
ern
and
Max
Ullm
ann,
in 1
923,
the
firm
be
cam
e th
e pa
rtne
rshi
p of
Sin
ger
& F
ried
land
er, w
hich
inco
rpor
ated
in 1
933
Sing
er &
Fri
edla
nder
was
ow
ned
in s
ucce
ssio
n by
Bow
ring
s, M
arsh
Mac
Len
nan,
Eur
opea
n Fe
rrie
s an
d B
rita
nnia
Arr
ow, b
efor
e re
vers
ing
into
Gilb
ert
Hou
se I
nves
tmen
ts s
hort
ly b
efor
e th
e O
ctob
er
1987
cra
sh a
nd b
efor
e re
gain
ing
its in
depe
nden
ce17
1
In A
ugus
t 20
05 it
was
acq
uire
d by
Kau
pthi
ng B
ank,
the
larg
est
bank
in I
cela
nd, a
nd w
as r
enam
ed
Kau
pthi
ng S
inge
r &
Fri
edla
nder
. It
wen
t in
to a
dmin
istr
atio
n in
200
8Sp
erlin
g &
Co.
Bas
ildon
Hou
se,
Moo
rgat
e St
reet
,L
ondo
n, E
C
1878
to
1945
The
firm
was
est
ablis
hed
in 1
878,
but
from
193
0 its
act
iviti
es w
ere
mai
nly
confi
ned
of c
ompa
ny r
eg-
istr
ar. I
t ce
ased
bus
ines
s in
194
5172
The
par
tner
, Edw
ard
Phili
p A
ndre
ae, w
as t
he b
roth
er o
f a K
lein
wor
ts’ p
artn
erSi
r E
. Mac
kay
Edg
ar jo
ined
the
firm
in 1
907.
He
was
form
er a
Can
adia
n st
ockb
roke
r. H
is fi
nanc
ial
affa
irs
ran
into
tro
uble
in 1
925
and
he w
ent
into
rec
eive
rshi
p, a
lthou
gh t
his
was
res
cind
ed t
he
follo
win
g ye
ar. H
e re
sign
ed fr
om t
he fi
rm a
t th
at t
ime
(con
tinue
d)
(con
tinue
d)
Page 33
APPENdIx 393
Firm
Profi
le
Spey
er B
roth
ers
7 L
othb
ury,
Lon
don,
EC
1861
to
1922
Gus
tav
Spey
er e
stab
lishe
d Sp
eyer
Bro
ther
s in
Lon
don
in 1
861.
His
son
Edg
ar S
peye
r to
ok o
ver
the
firm
. Aft
er t
he o
utbr
eak
of w
ar in
191
4, h
e w
as p
ublic
ly a
ccus
ed o
f dis
loya
lty. H
e bo
re t
hese
in
sults
for
nine
mon
ths,
but
in M
ay 1
915
he d
ecid
ed t
o ac
t. H
e re
sign
ed h
is B
ritis
h ho
nour
s in
an
ope
n le
tter
add
ress
ed t
o th
e Pr
ime
Min
ster
, Her
bert
Asq
uith
. In
late
192
1 C
row
n pr
ocee
ding
s w
ere
unde
rtak
en a
gain
st h
im. H
e w
as fo
und
guilt
y an
d an
ord
er is
sued
und
er t
he A
liens
Act
to
ensu
re t
hat
he w
ould
hen
cefo
rth
ceas
e to
be
a B
ritis
h na
tiona
l.173 H
e re
turn
ed t
o A
mer
ica
and
the
firm
Spe
yer
Bro
ther
s w
as d
isso
lved
in 1
922
J. S
tam
m &
Co.
38 T
hrog
mor
ton
Stre
etL
ondo
n E
CLa
ter
at:
20 C
opth
all A
venu
eL
ondo
n E
C
c.19
20 t
o 19
29 (
?)Pr
ior
to t
he F
irst
Wor
ld W
ar, J
uliu
s St
amm
was
a s
tock
brok
er s
peci
alis
ing
in b
usin
ess
with
con
-tin
enta
l Eur
ope.
The
out
brea
k of
war
gav
e ri
se t
o fr
eeze
in h
is b
usin
ess.
Lat
er h
e an
d ot
her
fore
ign-
born
Sto
ck E
xcha
nge
mem
bers
wer
e ex
clud
ed fr
om m
embe
rshi
p174
Lik
e Si
nger
& F
ried
land
er, J
. Sta
mm
& C
o. b
ecam
e a
mer
chan
t ba
nk a
fter
the
war
. The
firm
was
m
entio
ned
in t
he m
emoi
rs o
f Lio
nel F
rase
r as
one
of o
ne o
f a n
umbe
r of
firm
s ac
tive
afte
r th
e w
ar.17
5 Oth
er t
han
this
men
tion,
the
re is
litt
le in
form
atio
n av
aila
ble
The
par
tner
ship
with
Eug
ene
Bol
ton
was
dis
solv
ed in
192
9 an
d th
e bu
sine
ss c
ontin
ued
sole
ly b
y Ju
lius
Stam
m, b
ut it
is n
ot k
now
n fo
r ho
w lo
ng o
r, in
deed
, if a
t al
l.176 I
t is
like
ly t
hat
he d
ied
in
1938
177
Ster
n B
roth
ers
6 A
ngel
Cou
rt,
Ban
k,L
ondo
n, E
C
1834
to
1964
The
Lon
don
firm
was
est
ablis
hed
in 1
834
and
wor
ked
clos
ely
with
the
fam
ily fi
rms
in P
aris
and
Fr
ankf
urt
until
the
out
brea
k of
war
in 1
914.
178
Mem
ber
of t
he I
nter
natio
nal F
inan
cial
Soc
iety
issu
ing
cons
ortiu
m in
186
3.17
9
Sir
Edw
ard
Ster
n w
as a
lso
a di
rect
or o
f Mid
land
Ban
k an
d w
as s
ucce
eded
in t
hat
role
by
his
cous
in,
Sir
Alb
ert
Ster
n.18
0
Rec
orde
d as
an
Aut
hori
sed
dep
osita
ry in
195
4.18
1 dis
cont
inue
d bu
sine
ss in
196
4.
(con
tinue
d)
(con
tinue
d)
Page 34
394 APPENdIx
Firm
Profi
le
Ullm
ann
& C
ompa
ny L
td.
4 L
ondo
n W
all B
uild
ing,
Lon
don,
EC
2Fr
om 1
936:
85 G
race
chur
ch S
tree
tL
ondo
n E
C
1932
to
1962
The
firm
was
form
ed in
193
2 by
Max
Ullm
ann,
a fo
rmer
par
tner
in S
inge
r &
Fri
edla
nder
. It
was
in
itial
ly in
volv
ed in
fore
ign
exch
ange
and
sec
uriti
es, b
ut la
ter
mov
ed in
to c
omm
erci
al b
anki
ng
serv
ices
182
In 1
962
the
firm
mer
ged
A. K
eyse
r &
Co.
Lim
ited
to b
ecom
e K
eyse
r, U
llman
n L
imite
d. T
he n
ew
firm
lost
hea
vily
in t
he s
econ
dary
ban
king
cri
sis
in 1
973–
1975
. In
1981
Cha
rter
hous
e Ja
phet
ac
quir
ed K
eyse
r U
llman
nE
. von
der
Hey
dt &
Co.
6 A
ustin
Fri
ars,
Lon
don,
EC
2
1909
to
1917
On
11 J
une
1917
, the
Boa
rd o
f Tra
de m
ade
an O
rder
und
er t
he T
radi
ng w
ith t
he E
nem
y A
men
dmen
t A
ct, 1
916,
dir
ectin
g th
e bu
sine
ss o
f the
firm
to
be w
ound
up
Wal
lace
Bro
ther
s &
Co.
Ltd
.4
Cro
sby
Squa
re,
Lon
don,
EC
1848
to
1976
Wal
lace
& C
o. w
as e
stab
lishe
d in
184
8 as
an
Eas
t In
dia
mer
chan
t ba
sed
in B
omba
y, t
akin
g on
the
bu
sine
ss o
f Fir
th &
Co.
It
late
r ex
pand
ed in
to B
urm
a an
d fo
rmed
The
Bom
bay
Bur
mah
Tra
ding
C
orpo
ratio
n L
td. i
n 18
63In
187
8 W
alla
ce B
roth
ers
had
ente
red
into
oil
tran
spor
tatio
n an
d di
stri
butio
n in
itial
ly in
Nor
th
Am
eric
a oi
l, bu
t la
ter
in R
ussi
an o
il fo
r th
e Fa
r E
ast.
It
with
drew
from
thi
s tr
ade
by t
he e
nd o
f the
ce
ntur
y183
In 1
972
Wal
lace
Bro
ther
s &
Co.
Ltd
. mer
ged
with
E. d
. Sas
soon
Ban
king
Co.
Ltd
. to
form
Wal
lace
B
roth
ers
Sass
oon
Ban
k L
td. I
n 19
76 t
he c
ompa
ny w
as a
cqui
red
by S
tand
ard
Cha
rter
ed B
ank
afte
r lo
sses
dur
ing
the
seco
ndar
y ba
nkin
g cr
isis
184
(con
tinue
d)
(con
tinue
d)
Page 35
APPENdIx 395
Firm
Profi
le
S. G
. War
burg
& C
o.35
Kin
g W
illia
m S
tree
tL
ondo
n, E
C4
1934
to
1995
Est
ablis
hed
in 1
934
as t
he N
ew T
radi
ng C
ompa
ny, a
n af
filia
te o
f Am
ster
dam
-bas
ed W
arbu
rg &
C
o.18
5 In
1937
Sie
gmun
d W
arbu
rg in
vite
d H
enry
Gru
nfel
d to
bec
ome
his
part
ner
in t
he r
ecen
tly
form
ed m
erch
ant
bank
. In
1946
the
firm
was
ren
amed
S. G
. War
burg
& C
o.18
6
In 1
957
Selig
man
Bro
ther
s w
ere
acqu
ired
. Thi
s ac
quis
ition
res
ulte
d in
mem
bers
hip
of t
he A
ccep
ting
Hou
ses
Com
mitt
ee in
195
9187
It h
ad a
ver
y su
cces
sful
inve
stm
ent
man
agem
ent
subs
idia
ry, M
ercu
ry A
sset
Man
agem
ent,
whi
ch w
as
float
ed o
ff in
Apr
il 19
87S.
G. W
arbu
rg &
Co.
bec
ame
one
of L
ondo
n’s
lead
ing
mer
chan
t ba
nks
until
the
mid
-199
0s. I
n 19
95 it
was
acq
uire
d by
the
Sw
iss
Ban
k C
orpo
ratio
n, b
ecom
ing
SBC
War
burg
In 1
997,
SB
C W
arbu
rg w
as m
erge
d w
ith U
.S. i
nves
tmen
t ba
nk d
illon
, Rea
d &
Co.
to
crea
te
War
burg
dill
on R
ead.
By
2002
the
War
burg
nam
e ha
d be
en d
ropp
ed18
8
Jaco
b W
asse
rman
n16
5–16
7 M
oorg
ate,
Lon
don,
EC
2
1924
(?)
to 1
931(
?)In
clud
ed in
the
Ban
kers
’ Ret
urns
for
1926
–193
1 in
clus
ive
In 1
925
repr
esen
tativ
es o
f Jac
ob W
asse
rman
n, A
. Rüf
fer
& S
ons,
M. S
amue
l & C
o. a
nd t
he E
agle
St
ar &
Bri
tish
dom
inio
ns I
nsur
ance
Co.
Ltd
. wer
e ap
poin
ted
to a
Com
mitt
ee o
f Ins
pect
ion
with
th
e O
ffici
al R
ecei
ver
to e
xam
ine
the
Indu
stri
al G
uara
ntee
Cor
pora
tion,
whi
ch h
ad b
een
put
into
liq
uida
tion.
189 T
he I
ndus
tria
l Gua
rant
ee C
orpo
ratio
n’s
busi
ness
was
mot
or c
ar h
ire
purc
hase
an
d w
as la
rge
scal
e. I
t ha
d un
succ
essf
ully
foug
ht a
cas
e ag
ains
t th
e C
orpo
ratio
n of
Llo
yds
aris
ing
from
a d
efau
lting
und
erw
rite
r.190 P
resu
mab
ly t
he lo
sses
sus
tain
ed le
d to
the
liqu
idat
ion
and
Jaco
b W
asse
rman
was
a c
redi
tor
In 1
931
Jaco
b W
asse
rman
n w
as t
he C
hair
man
of t
he A
nglo
-Aeg
ean
Ban
k of
Com
mer
ce L
td.,
whi
ch
was
vol
unta
rily
wou
ld-u
p du
e to
diffi
culti
es w
ith it
s bu
sine
ss in
Gre
ece19
1
(con
tinue
d)
(con
tinue
d)
Page 36
396 APPENdIx
Firm
Profi
le
Wog
au &
Co.
4 E
astc
heap
,L
ondo
n E
C
1865
to
1923
Wog
au &
Co.
was
foun
ded
in M
osco
w in
183
9 by
M. M
. Wog
au o
f Fra
nkfu
rt, a
nd t
he L
ondo
n br
anch
was
ope
ned
by h
is p
artn
er E
dwin
Sch
umac
her
in 1
865.
By
1914
the
Rus
sian
firm
had
be
com
e a
wid
e-ra
ngin
g in
vest
men
t gr
oup
with
inte
rest
s in
sug
ar r
efini
ng, p
aper
mill
ing,
met
als
and
chem
ical
s. T
he L
ondo
n fir
m w
as a
lead
ing
mer
chan
t ba
nk w
ith c
apita
l of c
.£1m
192
dur
ing
the
Rus
sian
Rev
olut
ion,
the
Bol
shev
ists
con
fisca
ted
the
asse
ts o
f the
Rus
sian
firm
.193 W
alte
r Ff
enne
ll be
cam
e a
part
ner
in G
uinn
ess
Mah
on &
Co.
in 1
923
and
the
Lon
don
firm
was
gra
dual
ly
abso
rbed
by
it
1 The
Tim
es, 1
3 M
arch
192
82 h
ttp:
//
ww
w.n
tz.in
fo/
gen/
n012
89.h
tml#
id03
414.
Acc
esse
d 16
Oct
ober
201
13 L
ondo
n G
azet
te, 2
0 Fe
brua
ry 1
914;
27
Febr
uary
192
0; 2
6 Fe
brua
ry 1
926;
26
Febr
uary
193
24 L
ondo
n G
azet
te, 1
Nov
embe
r 19
325 T
he T
imes
, 9 N
ovem
ber
1927
6 The
Tim
es, 1
Jul
y 19
217 w
ww
.arb
uthn
otla
tham
.co.
uk/
ourh
isto
ry.a
spx.
Acc
esse
d 10
Oct
ober
200
98 T
he T
imes
, 10
dec
embe
r 19
819 W
allis
Hun
t. H
eirs
of G
reat
Adv
entu
re: T
he H
istor
y of
Bal
four
, Will
iam
son
and
Com
pany
Lim
ited
—Vo
lum
e I,
185
1–19
01 (
Lon
don,
195
1), p
. 45
10H
unt,
Hei
rs, V
ol. I
(19
51),
p. 6
711
John
Orb
ell a
nd A
lison
Tur
ton,
Bri
tish
Ban
king
: A G
uide
to H
istor
ical
Rec
ords
(A
lder
shot
, 200
1), p
. 63;
The
Tim
es, 2
3 Se
ptem
ber
1960
12M
ira
Wilk
ins
and
Har
m S
chrö
ter,
The
Fre
e-St
andi
ng C
ompa
ny in
the
Wor
ld E
cono
my,
183
0–19
96 (
Oxf
ord,
199
8), p
. 229
13Fi
nanc
ial T
imes
, 18
Oct
ober
191
214
The
Tim
es, 2
3 Ja
nuar
y 19
2315
Fina
ncia
l Tim
es, 3
0 d
ecem
ber
1920
; 18
Janu
ary,
5 M
arch
, and
16
Apr
il 19
2116
Orb
ell a
nd T
urto
n, B
riti
sh B
anki
ng (
2001
), p
p. 2
88–2
9017
The
Tim
es, 1
6 Se
ptem
ber
1963
18ht
tp:/
/w
ww
.s-a
sian
.cam
.ac.
uk/
barl
owje
.htm
l. Acc
esse
d 4
Nov
embe
r 20
1119
http
://
ww
w.s
-asi
an.c
am.a
c.uk
/ba
rlow
hs.h
tml. A
cces
sed
4 N
ovem
ber
2011
(con
tinue
d)
(con
tinue
d)
Page 37
APPENdIx 39720
Stan
ley
Cha
pman
, The
Rise
of M
erch
ant B
anki
ng (
Ald
ersh
ot: 1
992)
, pp.
147
–149
21T
he T
imes
, 25–
26 J
uly
1919
; 21
Oct
ober
191
922
The
Tim
es, 1
9 N
ovem
ber
1915
23C
hapm
an, M
erch
ant B
anki
ng (
1992
), p
. 133
24T
he T
imes
, 6 A
pril
1926
25O
rbel
l and
Tur
ton,
Bri
tish
Ban
king
(20
01),
p. 1
0326
The
Tim
es, 1
3 A
pril
1914
27T
he T
imes
, 1 N
ovem
ber
1928
28T
he T
imes
, 16
July
193
229
The
Tim
es, 1
Oct
ober
193
230
The
Tim
es, 2
0 Fe
brua
ry 1
953
31A
ugus
tus
Mui
r. B
lyth
, Gre
ene,
Jou
rdai
n &
Com
pany
Lim
ited
181
0–19
60 (
Lon
don,
196
1)32
W. L
ione
l Fra
ser.
All
to th
e G
ood
(Lon
don,
196
3), p
. 32
33ht
tp:/
/th
epee
rage
.com
/p8
343.
htm
. Acc
esse
d 8
July
201
234
Lond
on G
azet
te, 1
Jul
y 19
1935
L. E
. Jon
es, G
eorg
ian
Aft
erno
on, p
. 147
; The
Tim
es, 1
2 M
ay 1
921
36T
he T
imes
, 29
Aug
ust
1923
37T
he T
imes
, 10
Oct
ober
192
438
TN
A, B
T 3
1/36
065/
2015
77, C
ompa
nies
Reg
istr
atio
n O
ffice
: File
s of
dis
solv
ed C
ompa
nies
, Com
pany
No:
201
577,
Art
hur
H. B
rand
t an
d C
ompa
ny39
Orb
ell a
nd T
urto
n, B
riti
sh B
anki
ng (
2001
), p
. 239
40T
he T
imes
, 16
Sept
embe
r 16
5; 1
May
197
5. M
arga
ret
Rei
d, T
he S
econ
dary
Ban
king
Cri
sis, 1
973–
1977
: Its
Cau
ses a
nd C
ours
e (L
ondo
n, 2
003)
, p. 9
841
Orb
ell a
nd T
urto
n, B
riti
sh B
anki
ng (
2001
), p
p. 1
28–1
3042
http
://
ww
w.s
cots
conn
ectio
n.co
m/
clan
_cre
sts/
Gut
hrie
.htm
. Acc
esse
d 6
Janu
ary
2012
43T
he T
imes
, 14
May
192
8; 5
Mar
ch 1
929;
25
June
193
044
Cha
pman
, Mer
chan
t Ban
king
(19
92),
pp.
54,
80
45ht
tp:/
/w
ww
.clo
sebr
othe
rs.c
o.uk
/hi
stor
y.as
px. A
cces
sed
30 O
ctob
er 2
011
46W
endy
Vai
zey,
A B
rief
Hist
ory
of C
lose
Bro
ther
s (L
ondo
n, 1
995)
, p. 1
047
Lon
don
Gaz
ette
, 29
Febr
uary
192
448
Vai
zey,
Clo
se B
roth
ers (
1995
), p
. 11
49R
anal
d M
ichi
e, T
he L
ondo
n St
ock
Exc
hang
e: A
Hist
ory
(Oxf
ord,
199
9), p
. 109
50T
he T
imes
, 13
June
192
251
http
://
ww
w.e
ncyc
lope
dia.
com
/do
c/1G
2-25
0630
0065
.htm
l. A
cces
sed
15 O
ctob
er 2
011
52ht
tp:/
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ww
.aim
25.a
c.uk
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esse
d 15
Oct
ober
201
153
The
Tim
es, 9
dec
embe
r 19
32; 9
May
193
4; 3
0 A
pril
1935
; 3 J
une
1936
Page 38
398 APPENdIx
54T
he T
imes
, 7 J
anua
ry 1
937
55T
he T
imes
, 15
Mar
ch 1
958
56T
he T
imes
, 5 M
ay 1
923
57T
he T
imes
, 25
Oct
ober
192
358
Lond
on G
azet
te, 2
Jan
uary
190
359
The
Tim
es, 1
Jan
uary
190
960
H.
L.
Slat
er,
Gat
eway
s: T
he S
tory
of
Lapo
rte,
188
8–19
88.
Ava
ilabl
e at
: ht
tp:/
/w
ww
.cat
alys
t.or
g.uk
/do
wnl
oad/
His
tori
cal/
Lap
orte
%20
His
tory
%20
Nov
embe
r%20
2012
.pdf
; htt
p:/
/w
ww
.gra
ysho
tt-a
rchi
ve.o
rg.u
k/m
odul
es.p
hp?n
ame=
New
s&fil
e=ar
ticle
&si
d=11
561
John
Orb
ell,
‘Ste
in, S
ir E
dwar
d A
dolp
he S
inau
er d
e (1
887–
1965
)’, O
xfor
d D
icti
onar
y of
Nat
iona
l Bio
grap
hy (
Oxf
ord,
200
4). A
vaila
ble
at: h
ttp:
//
ww
w.
oxfo
rddn
b.co
m/
view
/ar
ticle
/32
793.
Acc
esse
d 11
Nov
embe
r 20
1262
The
Tim
es, 1
5 M
arch
195
8; 1
0 Fe
brua
ry 1
960;
4 N
ovem
ber
1965
63C
hapm
an, M
erch
ant B
anki
ng (
1992
), p
. 133
64T
he T
imes
, 14
Mar
190
7; 6
Oct
ober
190
865
Ran
ald
Mic
hie,
‘dun
n, F
isch
er &
Co.
in t
he C
ity o
f Lon
don,
190
6–19
14’,
Bus
ines
s Hist
ory,
Vol
. 30,
No.
2 (
1988
), p
p. 1
95–2
1866
The
Tim
es, 1
2 Ja
nuar
y 19
6567
The
Tim
es, 2
0 Ja
nuar
y 19
3268
Lond
on G
azet
te, 2
1 Se
ptem
ber
1934
69T
he T
imes
, 7 J
anua
ry 1
944
70A
JR I
nfor
mat
ion,
Jun
e 19
6871
Cha
pman
, Mer
chan
t Ban
king
(19
92),
p. 5
972
The
Tim
es, 3
0 Ja
nuar
y 19
7073
Cha
pman
, Mer
chan
t Ban
king
(19
92),
p. 1
3374
The
Tim
es, 9
Apr
il 19
8075
http
://
gilli
at1.
50m
egs.
com
/cu
stom
.htm
l. A
cces
sed
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une
2011
76w
ww
.arb
uthn
otla
tham
.co.
uk/
ourh
isto
ry.a
spx.
Acc
esse
d 10
Oct
ober
200
977
http
s:/
/gr
ace.
com
/en
-us/
hist
ory/
Page
s/gr
ace-
hist
ory.
aspx
78Iv
y Fr
ance
s Jo
nes,
The
Rise
of a
Mer
chan
t Ban
k: A
Sho
rt H
istor
y of
Gui
nnes
s Mah
on (
dub
lin, 1
974)
, p. 3
879
Lond
on G
azet
te, 2
7 A
pril
1923
; BoE
, C48
/26
, dis
coun
t O
ffice
File
s, G
uinn
ess
Mah
on, L
ette
r fr
om H
. S. G
uinn
ess
to M
. Nor
man
, 20
Apr
il 19
2380
The
Tim
es, 2
8 A
pril
1923
81T
he T
imes
, 8 d
ecem
ber
1972
82Lo
ndon
Gaz
ette
, 8 M
arch
186
783
Forr
est
Cap
ie, A
lan
Web
ber,
A M
onet
ary
Hist
ory
of th
e U
nite
d K
ingd
om, 1
870–
1982
: Dat
a So
urce
s …, V
olum
e 1,
p. 5
4784
The
Tim
es, 1
4 d
ecem
ber
1934
85Fr
aser
(19
63),
p. 7
7
Page 39
APPENdIx 39986
Cha
pman
, Mer
chan
t Ban
king
(19
92),
p. 6
087
http
://
ww
w.s
chro
ders
.com
/gl
obal
/ab
out-
schr
oder
s/sc
hrod
ers-
over
view
. Acc
esse
d 2
June
201
588
The
Tim
es, 9
Jun
e 19
5089
The
Tim
es, 1
2 Ja
nuar
y 19
6590
The
Tim
es, 1
2 Ja
nuar
y 19
6591
http
://
arch
iver
.roo
tsw
eb.a
nces
try.
com
/th
/re
ad/
BR
ITIS
H-J
EW
RY/
2005
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1129
4173
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cces
sed
24 M
arch
201
392
Cha
pman
, Mer
chan
t Ban
king
(19
92),
p. 5
193
The
Tim
es, 2
9 Ju
ne 1
923;
15
Sept
embe
r 19
3294
The
Tim
es, 1
9 A
ugus
t 19
24; 5
Feb
ruar
y 19
2995
dei
chm
ann
& C
o. w
as e
stab
lishe
d in
185
8, b
ut s
uspe
nded
pay
men
ts i
n 19
31.
See:
The
Tim
es,
25 S
epte
mbe
r 19
31.
Bru
no S
chrö
der
mar
ried
Em
ma
dei
chm
ann
in 1
894
96Fo
r de
tails
of
the
de B
unse
n fa
mily
see
: M
arqu
is o
f R
avig
ny a
nd R
aine
val,
The
Pla
ntag
enet
Rol
l of
the
Roy
al B
lood
: Mor
tim
er-P
ercy
Vol
ume
(Bal
timor
e:
Gen
ealo
gica
l Pub
. Co.
, 199
4)97
The
New
Yor
k T
imes
, 15
Nov
embe
r 19
2998
Cha
pman
, Mer
chan
t Ban
king
(19
92),
p. 1
3399
Ban
k of
Eng
land
, NA
12
100 h
ttp:
//
ww
w.a
im25
.ac.
uk/
cgi-
bin/
vcdf
/de
tail?
coll_
id=
1683
7&in
st_i
d=11
8&nv
1=br
owse
&nv
2=su
b. A
cces
sed
8 O
ctob
er 2
011
101 T
he T
imes
, 15
Mar
ch 1
875
102 T
he T
imes
, 3 d
ecem
ber
1912
; 5 d
ecem
ber
1913
; 1 A
pril
1915
103 T
he T
imes
, 25
Apr
il 19
1910
4 The
Tim
es, 2
2 Ju
ne 1
923
105 T
he T
imes
, 6 M
ay 1
924
106 L
ondo
n G
azet
te, 2
1 Fe
brua
ry 1
925
107 T
he T
imes
, 31
dec
embe
r 19
2510
9 Lon
don
Gaz
ette
, 5 O
ctob
er 1
962
109 C
hapm
an, M
erch
ant B
anki
ng (
1992
), p
. 60
110 O
rbel
l and
Tur
ton,
Bri
tish
Ban
king
(20
01),
p. 4
6411
1 The
Tim
es, 1
Jul
y 18
9011
2 The
Tim
es, 1
7 Se
ptem
ber
1962
, Pro
spec
tus
of K
eyse
r, U
llman
n L
imite
d11
3 htt
p:/
/w
ww
.bus
ines
shis
tory
.com
/w
s_m
erch
_ban
ks.p
hp. A
cces
sed
22 O
ctob
er 2
011
114 T
he T
imes
, 25
Janu
ary
1910
115 T
he T
imes
, 7 A
pril
1917
116 L
ondo
n G
azet
te, 2
2 M
arch
192
911
7 The
Tim
es, 1
1 Ja
nuar
y 19
71
Page 40
400 APPENdIx
118 M
arga
ret
Rei
d, T
he S
econ
dary
Ban
king
Cri
sis, 1
973–
1975
: Its
Cau
ses a
nd C
ours
e (L
ondo
n, 1
982)
, p. 1
6711
9 htt
p:/
/w
ww
.thi
sism
oney
.co.
uk/
mon
ey/
new
s/ar
ticle
-151
4498
/B
erm
uda-
bank
-buy
s-L
eopo
ld-J
osep
h.ht
ml.
Acc
esse
d 6
Nov
embe
r 20
1112
0 Ban
k of
Eng
land
, dS/
UK
/51
121 h
ttp:
//
ww
w.la
zard
.com
/ab
out-
laza
rd/
hist
ory/
. Acc
esse
d 15
Mar
ch 2
014
122 B
odle
ian
Lib
rary
, Bra
nd P
aper
s, F
ile 1
99, M
emor
andu
m t
o C
hanc
ello
r of
the
Exc
hequ
er, 8
May
194
412
3 Ban
k of
Eng
land
, Fre
edom
of
Info
rmat
ion
dis
clos
ures
: ‘C
omm
ittee
of
Tre
asur
y M
inut
es o
f 17
, 18
and
21 J
uly
1931
whi
ch r
efer
to
the
Ban
k’s
supp
ort
oper
atio
ns o
f Laz
ards
.’ d
ate
of R
elea
se: 1
8 Ju
ly 2
005.
Ava
ilabl
e at
: htt
p:/
/w
ww
.ban
kofe
ngla
nd.c
o.uk
/pu
blic
atio
ns/
foi/
disc
0507
18.h
tm12
4 Cha
pman
, Mer
chan
t Ban
king
(19
92),
pp.
144
–146
125 P
hilip
Zie
gler
, The
Six
th G
reat
Pow
er: B
arin
gs, 1
762–
1929
(L
ondo
n, 1
988)
, p. 2
7212
6 Orb
ell a
nd T
urto
n, B
riti
sh B
anki
ng (
2001
), p
p. 1
25, 3
1912
7 The
Tim
es, 1
Apr
il 19
2712
8 Sto
ck E
xcha
nge
Prac
tices
, Hea
ring
s Bef
ore
[the
US
Sena
te]
Com
mit
tee
on B
anki
ng a
nd C
urre
ncy,
Pur
suan
t to
S. R
es. 8
4 an
d S.
Res
. 56
and
S. R
es. 9
7,
1932
–194
1 (P
ecor
a C
omm
ittee
)12
9 Orb
ell a
nd T
urto
n, B
riti
sh B
anki
ng (
2001
), p
p. 3
54–3
5513
0 The
Tim
es, 1
4 M
arch
192
1; 8
Apr
il 19
21; 2
7 Ju
ly 1
921
131 C
hapm
an, M
erch
ant B
anki
ng (
1992
), p
. 47
132 C
hapm
an, M
erch
ant B
anki
ng (
1992
), p
. 205
133 Y
ouss
ef C
assi
s, C
ity
Ban
kers
189
0–19
14 (
Cam
brid
ge, 1
994)
, pp.
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4113
4 Lon
don
Gaz
ette
, 17
Apr
il 19
17; 3
0 Se
ptem
ber
1921
135 d
avid
Kyn
asto
n, T
he C
ity
of L
ondo
n: V
olum
e II
: Gol
den
Year
s 189
0–19
14 (
Lon
don,
199
5), p
. 337
136 M
ira
Wilk
ins,
The
Hist
ory
of F
orei
gn I
nves
tmen
t in
the
Uni
ted
Stat
es to
191
4 (C
ambr
idge
, MA
, 198
9), p
. 477
137 L
ondo
n G
azet
te 1
2 N
ovem
ber
1937
138 R
ober
t M
urph
y, ‘
Ost
rer,
Isid
ore
(188
9–19
75)’
, O
xfor
d D
icti
onar
y of
Nat
iona
l B
iogr
aphy
(O
xfor
d, 2
004)
htt
p:/
/w
ww
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ordd
nb.c
om/
view
/ar
ti-cl
e/48
090.
Acc
esse
d 2
Mar
ch 2
013
139 L
ondo
n G
azet
te, 1
5 N
ovem
ber
1927
140 H
ilton
Bro
wn,
Par
ry’s
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adra
s: A
Sto
ry o
f Bri
tish
Ent
erpr
ise in
Ind
ia (
Mad
ras,
195
4), p
. 212
141 h
ttp:
//
ww
w.p
arry
mur
ray.
co.u
k/. A
cces
sed
8 O
ctob
er 2
011
142 T
NA
, T16
0/99
8, A
dvan
ces
on p
re-M
orat
oriu
m B
ills,
Arr
ange
men
ts a
fter
31
Aug
ust
1922
, Let
ter
from
Har
vey
to T
reas
ury,
23
July
192
414
3 The
Tim
es, 1
0 A
pril
1926
144 T
ed K
avan
agh,
The
Hist
ory
of K
now
les &
Fos
ter,
1828
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8 (L
ondo
n, 1
948)
, p. 8
614
5 Cha
pman
, Mer
chan
t Ban
king
(19
92),
p. 4
714
6 Cha
pman
, Mer
chan
t Ban
king
(19
92),
p. 6
014
7 Sta
nley
d. C
hapm
an, R
apha
el B
icen
tena
ry 1
787–
1987
(L
ondo
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, p. 4
614
8 htt
p:/
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ww
.rat
hbon
es.c
om/
. Acc
esse
d 6
June
201
5
Page 41
APPENdIx 40114
9 The
Tim
es, 1
0 O
ctob
er 1
960
150 T
he T
imes
, 9 J
anua
ry 1
912
151 T
he T
imes
, 7 A
ugus
t 19
2515
2 The
Tim
es, 2
3 Ju
ly 1
938
153 B
oE, d
S/U
K/
3215
4 htt
p:/
/w
ww
.mei
ji-po
rtra
its.d
e/m
eiji_
firm
s_s.
htm
l. A
cces
sed
27 J
une
2011
155 L
ondo
n G
azet
te, 1
8 Fe
brua
ry 1
907
156 T
he T
imes
, 1 O
ctob
er 1
915;
29
June
194
315
7 The
Tim
es, 2
9 Se
ptem
ber
1965
158 T
he T
imes
, 23
Janu
ary
1920
159 L
ondo
n G
azet
te, 5
May
193
316
0 Rob
ert
Hen
riqu
es,
Mar
cus
Sam
uel,
Firs
t V
iscou
nt B
ears
ted
and
Foun
der
of t
he ‘
Shel
l’ Tr
ansp
ort
and
Trad
ing
Com
pany
, 18
53–1
927
(Lon
don,
196
0),
pp. 4
9–53
161 H
enri
ques
, Mar
cus S
amue
l (19
60),
p. 4
9516
2 The
Gua
rdia
n, 3
Oct
ober
198
716
3 Ser
ena
Kel
ly, ‘
Sass
oon
Fam
ily (
per.
c.18
30–1
961)
’, O
xfor
d D
icti
onar
y of
Nat
iona
l Bio
grap
hy (
Oxf
ord,
200
4). A
vaila
ble
at: h
ttp:
//
ww
w.o
xfor
ddnb
.com
/vi
ew/
artic
le/
5822
1. A
cces
sed
10 M
arch
201
316
4 The
Tim
es, 3
0 A
ugus
t 19
8316
5 Ser
ena
Kel
ly, ‘
Sass
oon
Fam
ily (
per.
c.18
30–1
961)
’, O
xfor
d D
icti
onar
y of
Nat
iona
l Bio
grap
hy (
Oxf
ord,
200
4). A
vaila
ble
at: h
ttp:
//
ww
w.o
xfor
ddnb
.com
/vi
ew/
artic
le/
5822
1. A
cces
sed
10 M
arch
201
316
6 Geo
ffre
y Jo
nes,
Bri
tish
Mul
tina
tion
al B
anki
ng 1
830–
1990
(O
xfor
d, 1
993)
, p. 4
1216
7 htt
p:/
/w
ww
.sch
rode
rs.c
om/
glob
al/
abou
t-sc
hrod
ers/
schr
oder
s-ov
ervi
ew. A
cces
sed
2 Ju
ne 2
015
168 N
ew Y
ork
Tim
es, 1
9 Ja
nuar
y 20
0016
9 Ros
s L
. Mui
r an
d C
arl J
. Whi
te, O
ver
the
Long
Ter
m …
: The
Sto
ry o
f J. &
W. S
elig
man
& C
o. 1
864–
1964
(N
ew Y
ork,
196
4), p
. 49
170 T
he T
imes
, 5 A
pril
1957
171 T
he F
inan
cial
Tim
es, 2
3 A
ugus
t 20
0417
2 The
Tim
es, 1
8 O
ctob
er 1
945
173 A
ntho
ny L
entin
, Ban
ker,
Trai
tor,
Scap
egoa
t, Sp
y? (
Lon
don,
201
3), l
oc. 2
105
174 M
ichi
e, L
ondo
n St
ock
Exc
hang
e (1
999)
, pp.
156
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175 L
ione
l W. F
rase
r, A
ll to
the
Goo
d (L
ondo
n, 1
963)
, pp.
68–
6917
6 Lon
don
Gaz
ette
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Febr
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192
917
7 The
Tim
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0 d
ecem
ber
1938
178 T
he T
imes
, 3 J
anua
ry 1
966
179 C
hapm
an, M
erch
ant B
anki
ng (
1992
), p
. 133
Page 42
402 APPENdIx
180 T
he T
imes
, 27
Janu
ary
1934
181 L
ondo
n G
azet
te, 2
1 d
ecem
ber
1954
182 T
he T
imes
, 17
Sept
embe
r 19
62, P
rosp
ectu
s of
Key
ser,
Ullm
ann
Lim
ited
183 P
oint
on, W
alla
ce B
roth
ers (
1974
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p. 2
6–28
184 T
he T
imes
, 8 d
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ber
1976
185 N
iall
Ferg
uson
, Hig
h Fi
nanc
ier:
The
Liv
es a
nd T
ime
of S
iegm
und
War
burg
(L
ondo
n, 2
010)
, p. 9
018
6 The
Ind
epen
dent
, 12
June
199
918
7 The
Tim
es, 5
Apr
il 19
57; 1
2 Ju
ne 1
959
188 T
he D
aily
Tel
egra
ph, N
ovem
ber
13, 2
002
189 L
ondo
n G
azet
te, 7
Apr
il 19
2519
0 The
Tim
es, 1
May
192
419
1 Lon
don
Gaz
ette
, 20
Nov
embe
r 19
3119
2 Sta
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Cha
pman
, Mer
chan
t Ent
erpr
ise in
Bri
tain
: Fro
m th
e In
dust
rial
Rev
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ion
to W
orld
War
I (
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193 T
he T
imes
, 22
Oct
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192
6
Page 43
403© The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG 2018 B. O’Sullivan, From Crisis to Crisis, Palgrave Studies in the History of Finance, https://doi.org/10.1007/978-3-319-96698-4
AAccepting Houses Committee, 5, 90,
91, 111, 151, 196, 292, 336, 392. See also AHC
Addis, Charles, 141AHC, 5, 16, 17, 90, 97, 102, 111,
117, 118, 128, 158, 196, 216, 218, 292, 295, 296, 303, 307, 320, 336–339, 342, 343, 345
Aitken, Max. See Beaverbrook, LordA. Keyser & Co., 333, 334, 379Anglo-American, 2, 7, 10, 22, 69, 81,
87, 164, 176, 180, 181, 215, 262, 292, 318, 355
Anglo-Persian Oil Company. See APOC
Anglo-South American Bank, 146, 209, 214, 289, 357. See also ASAB
Antony Gibbs & Son, 5, 373. See also Gibbs
APOC, 293, 319Arbuthnot, Latham & Co., 14, 96, 97,
212, 285–287, 307, 312, 313, 315, 316, 332, 339, 354, 362
Arthur H. Brandt, 16, 17, 28, 91, 118, 130, 131, 300, 303, 304, 321, 365
A. Rüffer & Sons, 17, 121, 122, 388. See also Rüffers
ASAB, 146, 209, 211, 214, 289–291, 294
BBaldwin, Stanley, 124Balfour of Burleigh Committee, 152,
159Balfour of Burleigh, Lord, 50, 52Balfour Committee, 254, 271, 274Balfour, Williamson & Company, 5,
264, 285, 287, 311–313, 315, 331, 344, 362
Balogh, Thomas, 65, 207, 234, 270Bankers Industrial development
Company. See BIdCBank of England, 3, 25, 42, 70, 73,
82, 84, 101, 102, 110, 125, 132, 134, 139–142, 156, 157, 170, 189, 195, 203, 205, 206,
index
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215–219, 231, 243–246, 253, 275, 291, 318, 321, 329, 354, 356, 363, 388, 399, 400. See also BoE
Bank of London and South America, 144, 209, 331. See also BOLSA
Bank of Montreal, 56, 59Barclays Bank, 23, 63, 143–145, 156,
237, 255, 339Baring Brothers, 22, 45, 97, 103, 157,
215, 363, 384. See also BaringsBarings, 1–4, 10, 11, 15, 18, 22, 24,
42–44, 48–51, 53, 55, 57, 62, 68–70, 84, 95, 128, 145, 149, 157, 175, 180, 183, 189, 192, 193, 195, 197, 198, 209, 216, 229, 234, 238, 252, 313, 329, 333, 340, 342–345, 348, 400
Barnato, Barney, 291Barnato Brothers, 5, 292, 364BBFT, 152BBTC, 297, 298Beaverbrook, Lord, 47Beecham Trust, 262, 275Benson, Robert, 53, 151BFCC, 261, 262BIC, 151, 152BIdC, 236, 237, 244, 245Big Bang, 59, 341, 342, 345Birch Crisp, Charles, 50, 52, 71, 72Blyth, Greene, Jourdain & Co., 285,
331, 332, 365BOB, 145, 146, 152, 154, 211, 213BoE, 3, 7, 12, 16, 17, 19, 29, 42, 43,
48, 56, 57, 59, 64, 67, 69, 72, 82, 84, 90, 92, 93, 97, 110–116, 118–121, 123–134, 140, 141, 143–148, 150–155, 157, 159, 170, 174–177, 183, 191, 192, 194–196, 199, 202–214, 216–218, 231–234, 236, 240, 241, 243–246, 253, 257, 269,
278, 291, 294, 297, 299, 300, 303, 319–321, 329, 334, 335, 338, 343, 346, 356–358
BOLSA, 144, 209, 291, 314Bombay Burmah Trading
Corporation, 296, 394. See also BBTC
Bonn & Co., 95, 97, 365Boulton Brothers, 16, 28, 50, 72, 96,
97, 103, 365Brand, Robert H., 82, 191, 192, 256Britannia Arrow, 338, 339, 342British Airways, 263British Bank for Foreign Trade, 50,
152. See also BBFTBritish, Foreign and Colonial
Corporation, 128, 261British Italian Corporation. See BICBritish Merchant Banking and
Securities Houses Association, 339
British Overseas Bank, 7, 14, 17, 145, 191, 211, 287–291, 302, 315, 359, 378, 382. See also BOB
British Shareholders’ Trust Ltd., The, 261. See also BST
British Thomson-Houston. See BTHBritish Trade Corporation, 150. See
also BTCBrown Shipley, 4, 52, 56, 87, 171,
175, 308–312, 322, 323, 354, 366
BST, 261BTC, 150–152, 154BTH, 266
CCanadian Agency, 48, 71CEB, 265Central Electricity Board, 233, 265.
See also CEB
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Chalmers, Guthrie & Co., 16, 263, 264, 272, 300, 304, 367, 372
Chamberlain, Austen, 50Chaplin, Milne, Grenfell & Co., 48, 367Charterhouse, 128, 268, 278, 337, 338Charterhouse Japhet, 335, 337, 379,
394City Revolution. See Big BangClearing banks, 3, 9, 12, 16, 19, 62,
68, 127, 139–147, 149–151, 153–155, 163, 174, 202, 209, 212, 225–227, 232–238, 240–242, 252, 254–256, 288, 291, 335, 339, 345, 356–359. See also Joint-stock banks
C.J. Hambro & Son, 153. See also Hambros
Close Brothers, 5, 24, 263, 272, 276, 354, 368, 397
Colwyn Committee, 142Committee on Commercial and
Industrial Policy after the War, 1918. See Balfour of Burleigh Committee
Committee on Industry and Trade, 1929. See Balfour Committee
Compagnia Italo-Britannica, 151Compania de Salitre de Chile. See
COSACHCompany Law Amendment
Committee, 1918, 257, 274COSACH, 294Courtaulds, 260, 261Creditanstalt, 147, 201, 210Crown Agents, 56, 336Cull & Co., 6, 15, 17, 368Cunliffe Brothers, 97, 302, 369, 373Cunliffe, Lord, 97, 141, 142
Ddanatbank, 201david Sassoon & Co., 285, 390
dawes Plan, 176, 177, 183dawnay day & Co., 6, 263, 270, 272,
329, 333–335, 369de Havilland Aircraft Company, 263dent Palmer & Co., 119, 126, 370de Pury, Gautschi & Co., 17, 370deregulation of UK financial markets
in 1986. See Big Bangderenburg & Co., 86deutsche Bank, 148, 157, 158, 165,
293, 343docker, dudley, 27, 149, 158, 274,
275dunlop, 260, 262dunn, Fischer & Co., 48, 371dunn, Sir James, 48
EEAC, 239, 244, 246, 278Economic Advisory Council. See EACEdgar, E. Mackay, 48E.d. Sassoon & Co., 52, 285, 336,
391Edward de Stein & Co., 128, 233,
263, 266, 272, 333, 369, 371Erlangers, 56, 59, 200, 229, 263, 271,
290, 333, 372, 376E. von der Heydt & Co., 93, 394
FFalk, Oswald Toynbee, 304, 372Faringdon Committee, 148, 149Farrer, Gaspard, 53, 145, 149, 157FBI, 151Federation of British Industries. See
FBIFirst World War, 1, 2, 9–11, 15, 26,
41, 65, 67, 69, 81, 82, 89, 93, 97, 99, 101, 109, 110, 129, 141, 147, 154, 163, 164, 167, 169, 170, 182, 215, 266, 286, 289,
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292, 293, 296–298, 305, 317, 320, 330, 355–357
F.G. Sale & Sons, 306Forres, Lord, 264, 265, 311, 314Fraser, Lionel, 29, 95, 393, 397Frater Taylor, James, 240, 246FRBNY, 29, 156, 182Fred. Huth & Co. See HuthsFredk. Huth & Co. See HuthsFreedom of Information, 16, 218,
318, 400Frühling & Goschen, 15, 91, 92, 97,
373FSA, 69
GGibbs, 14, 15, 24, 83, 285–287, 291,
293–295, 308, 312, 319, 322, 332, 339
Global Bang, 342Globalisation, 7, 9, 21, 25, 26, 28, 41,
70, 73, 82, 183, 219, 320Glyn Mills, 5, 53, 146, 235, 252Goldman Sachs, 47Goschen, Kenneth Huen, 145Goschens & Cunliffe, 129, 145, 195,
212, 213, 230, 239, 287, 289, 300, 302–304, 315, 321, 369, 373
Goschen, William Henry Neville, 145Grace Brothers, 310, 374Grenfell, Arthur, 48, 71, 96Grenfell, Edward, 94, 153, 170, 191,
292Grenfell, Riversdale, 29, 48, 71, 103Gresham Trust, 268Grindlays Bank, 336Guggenheim Brothers, 294Guinness Mahon, 15, 24, 97, 98, 123,
129, 296, 302, 320, 321, 329, 332, 342, 346, 374, 398
HHambro, Everard, 84, 98, 153Hambro, Olaf, 197Hambros, 2, 24, 49, 65, 98, 103, 198,
210, 211, 218, 229, 329, 334, 340, 341, 345, 346
Harrisons & Crosfield, 287, 317Hatry, Clarence, 201, 235Helbert Wagg, 5, 15, 47, 97, 263,
266, 268, 272, 276, 333, 375Higginson, Lee, 201Higginsons, 56, 59, 158, 237, 262,
263, 266, 268, 271, 272, 276, 376
Hill Samuel, 6, 128, 333, 334, 338, 342, 345, 372, 376, 390
Hire purchase, 231–233, 335HofC, 72, 73Holden, Edward, 140, 141Horstman & Co., 17, 91, 112, 117,
118, 377House of Morgan. See J.P. Morgan &
Co.; Morgan GrenfellHSBC, 23, 51, 52, 289, 339Hudson’s Bay Company, 17, 305, 321Huth Jackson, Frederick, 64, 65, 67,
73, 74, 92, 125, 148, 191Huths, 64, 90, 96–98, 119, 123–126,
146, 148, 155, 175, 176, 191, 195, 212, 300, 302, 304, 313, 315, 378
IICI, 260, 261Imperial Chemical Industries. See ICIImperial & Foreign Corporation, 50
JJaphets, 12, 47, 53, 198, 200, 208,
212, 269, 337
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INdEx 407
Japhet, Samuel, 93, 208Jardine Matheson. See MathesonsJarvie, J. Gibson, 231J.C. im Thurn & Sons, 17, 115, 116,
130, 229, 377, 378. See also Thurns
J. Henry Schroder Banking Corporation. See Schrobanco
Joint-stock banks, 2, 7, 9, 10, 18, 42, 43, 49, 57, 59, 62–66, 68, 87, 139, 207, 208, 288, 355, 360
J.P. Morgan & Co., 10, 169, 182, 294, 348
KKeith, Sir Kenneth, 334, 338Keynes, John Maynard, 84, 86, 87,
100, 140, 156, 203Keyser Ullmann, 333–335Kidder Peabody, 10, 192, 193, 209,
216Kidder-Peabody Acceptance
Corporation, 175Kindersley, Robert, 67, 89, 153, 164,
174, 175, 191, 196, 197, 216, 218
Kleinwort Benson Limited, 333, 364, 380
Kleinworts, 7, 12, 47, 91–93, 98, 113, 129, 165–167, 180, 195, 199, 202, 207, 209, 211, 212, 228, 232, 238, 243, 269, 286, 340, 343, 345, 353, 364, 380
Knowles & Foster, 300, 318, 321, 332, 380, 386, 400
König Brothers, 91, 124, 378, 381. See also Königs
Königs, 124–126Kuhn Loeb, 51, 59, 94, 169, 170
LLadenburgs, 114–118, 126, 378, 381Lazard Brothers, 218, 333. See also
LazardsLazard Frères, 209Lazards, 16, 55, 67, 82, 97, 153, 164,
174, 191, 195, 199, 209, 218, 256, 261, 263, 266, 341, 345, 357, 382, 400
LCC, 236LCMB, 49, 63LCWB, 52, 55, 57, 59, 63, 66, 113,
114, 119, 143, 149, 151Leopold Joseph & Sons, 6, 329, 336,
381LETB, 152Lever Brothers, 260, 261, 275LFBC, 118L. Hirsch & Co., 5, 376Lindenberg, Paul, 208, 217Lloyd George, david, 82, 92, 100–
102, 111, 129, 214Lloyds Bank, 11, 23, 49, 52, 55, 57,
63, 143, 144, 149–151, 156, 235, 244, 256, 274, 291, 331, 339
LMB, 121–123, 195, 198–200, 208, 218
London Underground, 252
MMacmillan Committee, 23, 67, 74,
89, 102, 164, 174, 181, 183, 196, 197, 203, 204, 216, 217, 227–229, 231, 239, 242, 243, 245, 255, 267, 274, 278
Mathesons, 289, 296–298, 315, 383Mercantile Credit, 233, 243, 244Metal Box Company, 260–262
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Midland Bank, 49, 140, 149, 156, 174, 227, 235, 255, 256, 258, 267, 339
Mildred, Goyeneche & Co., 2, 118, 126, 132, 384
M.M. Warburg, 169, 182Montagu, Samuel. See Swaythling,
LordMorgan Grenfell, 10, 13, 15, 24,
26, 27, 103, 104, 159, 170, 175, 191, 192, 195, 209, 210, 215, 218, 232, 238, 240, 246, 266, 272, 278, 292, 294, 295, 310–312, 318, 319, 323, 340, 343, 345, 348, 384
Morgan, J.P., 15, 94, 141, 153, 169, 170, 182, 192, 309, 311, 348
M. Samuel & Co., 51, 59, 158, 195, 197, 229, 230, 292, 293, 312, 390
NNational Provincial Bank, 11, 145,
149, 150, 156, 239Neumann Luebeck & Co., 5, 292,
385N.M. Rothschild & Sons. See
RothschildsNordwolle, 201Norman, Montagu, 18, 83, 87,
110, 114, 119–121, 123, 125, 145, 146, 150, 176, 177, 191, 201–203, 208, 212, 218, 231, 232, 234–236, 238–240, 268, 269, 294, 299–301, 304, 329, 333, 398
Nugent, Christopher, 90, 142, 143, 156
OOstrer Brothers, 263, 264, 272, 385
PPanmure Gordon, 51Parr’s Bank, 49, 51, 150, 156, 158,
217Parsons Committee, 276, 277Peacock, Edward R., 48, 234, 237,
240Pearsons, 209Philip Hill, Higginson, Erlangers Ltd.,
333, 372, 376Philip Hill & Partners, 6, 329, 376Pilkington Brothers, 260Pinto Leite & Nephews, 17, 118, 131,
299, 380, 386. See also PintosPintos, 118, 299, 300, 304, 315
RRadcliffe Committee, 23Ralli Brothers, 5, 15, 285, 298, 299,
307, 320, 330, 331, 334, 346Raphaels, 5, 24, 53, 72, 266, 400Revelstoke, Lord, 50, 69, 71, 84, 193,
238Ridpath, Guy, 238, 245Robert Benson Lonsdale & Co. Ltd,
5, 71, 266, 269, 272, 333, 364, 380
Robert Fleming & Co., 6, 246, 269, 337, 341, 345, 372
Rothschild, Nathan Meyer, 64Rothschilds, 2, 10, 11, 15, 18, 42–44,
53, 54, 56, 57, 65, 83, 147, 157, 176, 192, 193, 195, 210, 213, 240, 269, 287, 292, 293, 313, 318, 329, 333, 340, 342, 353, 354, 388
R. Raphael & Sons, 5, 53. See also Raphaels
Rüffers, 122, 123
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INdEx 409
SSale, Charles V., 305Sale & Co., 17, 18, 51, 285, 287,
305–307, 332, 389Samuel dobrée & Sons, 2, 126, 371Samuel, Marcus, 51, 72, 293, 319,
401Samuel Montagu & Co., 12, 95, 334,
339, 384SCB, 320, 321Schrobanco, 10, 15, 175, 199, 213Schroders, 2, 10–13, 15, 24, 26–28,
47, 48, 52, 55, 57, 71, 91–93, 98, 103, 119, 120, 130, 132, 155, 157, 165, 166, 175, 176, 181, 183, 192, 193, 195, 197–200, 207, 209, 212, 216–219, 232, 240, 243, 266, 269, 278, 295, 319, 329, 333, 340, 341, 344–346, 353, 354, 391
Schuster, Felix, 140, 170Secondary banking crisis, 317, 331,
335–338Second World War, 1, 21, 123, 287,
297, 298, 329–331, 340, 344, 345, 358
Seligman Brothers, 12, 191, 338, 392S.G. Warburg, 6, 329, 338, 392, 395Shell Transport & Trading Co., 51,
72, 293, 319, 401Singer & Friedlander, 5, 94, 339, 342,
347, 392S. Japhet & Co., 5, 379. See also
JaphetsSlater, Jim, 338Slater Walker, 331, 338, 339S. Pearson & Sons. See PearsonsSperling & Co. See SperlingsSperling Combine, 24, 238, 242, 245Sperlings, 238, 266, 392Speyer Brothers, 54, 94, 383, 393. See
also SpeyersSpeyer, Edgar, 54, 94, 103, 252
Speyers. See also 95Standard Chartered Bank, 317, 320,
336Standstill, 206, 210–213, 218Stock Exchange, 53, 67, 85, 86, 94,
103, 140, 238, 254, 275, 277, 397, 400, 401
Strong, Benjamin, 16, 90, 102, 140, 169Swaythling, Lord, 334, 379Szarvasy, F.A., 128, 262, 276
TT.H. Allan & Co., 308, 362Thomas Barlow & Brother, 96, 313,
314, 316, 331, 363Thurns, 116–118, 130TNA, 15–17, 19, 28, 29, 72, 74,
101–103, 112, 113, 129–134, 156–158, 181, 183, 215, 217, 218, 242, 244, 246, 274, 277, 278, 306, 320, 321
Trade Facilities Act, 1921, 153, 192, 265
Turner Review, The, 25, 69
UUdT, 231–233, 243
VVassar-Smith Committee, 271, 274
WWallace Brothers, 14, 28, 210, 218,
285, 287, 289, 292, 296, 297, 299, 302, 315, 317–321, 336, 391, 394, 402
Wallace Brothers Sassoon Bank, 317, 336, 391, 394
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Wm. Brandts, 48, 65, 92, 336, 338, 339
Wm. Brandt’s Sons, 4, 15, 48, 49, 195, 336, 366. See also Wm. Brandts
Wogau & Co., 97, 295, 296, 298, 299, 320, 321, 374, 396
Wood, Charles Frederick, 145
YYoung Plan, 194, 216Yule Catto, 15, 312, 323
Wall Street, 9, 25, 100, 194, 200, 354Warburg, Paul, 169Warburg, Siegmund, 13, 28, 402Weir Committee, 265, 277Wernher Beit & Co., 291, 376Westminster Bank, 11, 22, 52, 66,
101, 113, 143, 156, 158, 202, 207, 217, 275, 304
Wheeler, Arthur, 128, 268, 269Williamson, Archibald. See Forres,
LordWilliamson Committee, 264, 277W. Ladenburg & Co. See Ladenburgs
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