Webpage created: May 15, 2020
Webpage updated: May 15, 2020
THREE TOWNS BANKING COMPANY
The Three Towns British Mutual Subscription Loan Society was founded in 1850. It transformed itself into a joint stock bank in 1863 or 1864, when it was situated at 12 Edgcumbe Street, East Stonehouse, which it rented for £50 a year. On March 28th 1877 the Bank purchased the lease of these premises from the Earl of Mount Edgcumbe for £800.
Mr William Adams Clark became chairman of the Banking Company in 1874. They opened a branch at 64 Old Town Street, Plymouth, in 1875 and this was managed by Mr Thomas Waldo How.
Business boomed and the premises became a great inconvenience to both staff and customers. On Monday December 24th 1888 the Bank moved in to new premises on the corner of Old Town Street and Drake Street, 32 Old Town Street. It had formerly been the Lord Exmouth Inn and had been adapted for its new purpose by Mr Thomas Andrew Bearhope Kennedy, of Glanville Street, Plymouth.
Entered at the corner of the building through plate-glass doors, the floor of the banking hall was covered with "herring bone" oak. A flight of pitch pine stairs led down to the strong room. The ceiling of the strong room and the floor of the banking hall were of Portland cement concrete supported on iron girders. The room was lit by means of Hayward's semi-prismatic pavement lights and it was protected by a Chubb fire and thief-proof door with diagonal bolts.
A separate entrance in Drake Street led into a commodious bank parlour.
Following the death of the general manager, Mr Thomas Skinner Bayly, Mr Thomas Waldo How was promoted to fill his post, with a Mr Edward James Adams becoming the new manager of the Plymouth branch.
On April 28th 1890 the Three Towns' Banking Company was absorbed into the Devon and Cornwall Banking Company.