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first Bank in NZ was at Port Nicholson 1840

Journal by ngairedith

from Hutt City Libraries
... Somewhere in Petone is located the site of the first bank to be established in New Zealand—the Union Bank of Australia. Just where that site is will probably never be known, the only clue is contained in a paragraph in a copy of the New Zealand Gazette, published in May, 1840 (probably May 2nd), which reads: "The Rev. J. Mcfarlane of the Kirk of Scotland will perform" Divine Service at half-past ten o'clock, and the Rev. J. G. Butler "at twelve o'clock, every Sunday, at the Council House, in front "of the Bank."
E. J. Wakefield tells us that the Council House was half-a-mile from Pito-one, i.e., the pa.
The date when the bank opened is fixed by an advertisement in the New Zealand Gazette, establishing the fact that business was commenced on Tuesday, 24th March, 1840. A typical letter in the New Zealand Gazette> reads, "The Bank has arrived and will" relieve us from the inconvenience of barter trade."
In regard to the location, half-a-mile along the beach would give the end of Nelson Street, but it is more than likely that the bank was situated nearer Victoria Street. Elsewhere, reasons are given for believing that Clyde Terrace was somewhere in this locality. We do know that the Rev. J. Mcfarlane lived in Clyde Terrace, and that a letter states that "the houses there are "the best in the colony."
On the arrival of the Glenbervie, by which the "bank" arrived, Captain Mein Smith was living in "a large tent," so that the building of his house must have been after the bank was established.

the following extracts taken from New Zealand Gazette and Wellington Spectator
used here to try and locate where the Bank premises back then (supposing Petone)

18 April 1840

A PUBLIC MEETING of the inhabitants of Port Nicholson will take place at the residence of Mr Crawford, at twelve o'clock THIS DAY, 18th April, to consider the propriety of establishing a Local Bank.
Port Nicholson, 18th April, 1840

18 April 1840
BRANCH BANK in New Zealand

The Directors of the New Zealand Land Company hereby give notice, that they have effected an arrangement with the Union Bank of Australia, No, 38, Old Broad-street, London, for the establishment of a BRANCH BANK in NEW ZEALAND, through which the business of the New Zealand Land Company will be transacted, The Directors therefore recommend to Colonists the Union Bank of Australia as an establishment possessing their entire confidence and able to provide effectually for the financial wants of the first settlement.
By order of the Board,
JOHN WARD, Secretary
New Zealand Land Company's Office,
1 Adam-street, Adelphi, 27th Aug. 1839

George Fife Angas, Esq.,
Robert Brooks, Esq.,
James John Cummins, Esq.,
Robert Gardner, Esq.,
John Gore, Esq.,
Charles Hindley, Esq., M.P.
Benjamin E. Lindo, Esq.,
Charles Edward Mangles, Esq.,
Christopher Rawson, Esq., Halifox,
Thomas Sands, Esq., Liverpool
James Bogle Smith, Esq.
James Ruddell Todd, Esq.,
George Carr Glynn, Esq
John Gore, Esq.,
James J. Cummins, Esq.,
George Carr Glyn, Esq.,
John Gore, Esq.,
James J. Cummins, Esq.,
Messrs Glyn, Hallifax, Mills, and Co.,
Samuel Jackson, Esq.,
Colonial Inspector
J. C. McLaren, Esq.,

Local Directors: Geo S. Evans, Esq., D.C.L., Edward Betts Hopper, Esq., and George Hunter, Esq.,
Manager: John Smith, Esq., late of the Commercial Bank of England, Manchester
Arrangement having been made for the opening of a Branch in New Zealand, notice is hereby given, that Bills on Sydney, at thirty days' sight, will be issued at this office to the Settlers, for such sums as may be required at a charge of two per cent., redeemable in New Zealand, in the notes of this Bank, with a return of the two percent, thus enabling the colonists to transmit their funds without deduction.
The Directors likewise continue to grant letters of credit, payable at sight, for any sum not exceeding 300 and bills at thirty days' sight, for larger amounts, on their Branches at Sydney, Hobart Town, Launceston and Melbourne, Port Philip,
on the usual terms.
By order of the Board,
The Business of the Branch Bank commenced at Port Nicholson, New Zealand, 24th March, 1840

18 April 1840

Messrs Wallace, White and Wallace respectfully inform the Colonists that they will next week open their Store-house, situate next to the Bank, for the sale of Miscellaneous Goods, all of the best quality and at low prices
April 11, 1840

25 April 1840

A PUBLIC MEETING of the colonists will be held on Tuesday, the 28th., inst at the House of Mr Crawford, on the Beach (he was still living in a tent on the beach), at Port Nicholson, at one o'clock precisely, to consider the Prospectus of this Bank, prepared by the Committee to whom it was referred at the Meeting of the 18th inst.

9 May 1840
Messrs Wallace, White and Wallace

(identifying location of bank)
All parties holding bills of lading by the "Glenbervie" are requested to leave the same, endorsed, at Messrs Wallace, White and Wallace, next door to the Bank, addressed to Capt. Black
Port Nicholson, May 6, 1840

The Capital & Regulations of the Bank

23 May 1840
Mr J. Telford is instructed to offer for sale, at the house of Mr A. Duncan, near the Bank, on Wednesday next, at two o'clock:
An eight-day clock
A barometer
Scotch made iron plough, two set of horse and one set mule harness, riding saddle and bridle, car, mounting wheels and axle, double barreled gun, &c. &c.,
A. SCOTT, Auctioneer
Port Nicholson, May 23, 1840

23 July 1840

The PROVISIONAL COMMITTEE announce that this Bank will be ready to go into operation as soon after the delivery of the Town Lands as possible
June 19, 1840

12 Dec 1840

In conformity with a Resolution passed at a public meeting held at Barrett's-Hotel, Wellington, by adjournment, on Tuesday, the 8th inst., notice is hereby given, that from and agter the 14th inst. Lists will be open to receive the names of persons desirous of becoming Shareholders in this Company, at the following places, viz -
* Barrett's Hotel
* the Durham Arms
* the Lambton Tavern
* the Queen's Head
* the Union Bank of Australia
* Mr Allen's
HENRY St. HILL, Hons. Sec.
Wellington, December 9, 1840

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on 2016-04-11 02:25:49

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