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SOME IMPORTANT DATES IN THE C.B.C.'s HISTORY See http://www.getphpbb.com/phpbb/posting.php?mode=quote&p=171&mforum=cbcbank1816 Nov 20 Macquarie calls for a meeting of 14 people to discuss plans for opening a Bank
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Dec 5 Public meeting for subscribers of Bank held
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Dec 18 Public meeting for subscribers of Bank held
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1816 Bank of NSW is formed
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1817 April 8 Bank of New South Wales opened doors for first time at Mary Reiby's house in Macquarie Place
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1819 Jun 5 Public Meeting chaired by Macquarie to establish a Savings Bank
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1819 Jul 17 1st Savings Bank in Australia founded by Barron Field & Robert Campbell & known as Campbells Bank opens in Sydney, Parramatta, Liverpool & Windsor
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1822 October Mr Leslie Duguid arrived in New South Wales and for a time pursued pastoral pursuits.
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1824 Northern Bank is established in Northern Ireland
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1826 Bank of Australia commenced business as "the second Bank"
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1826 May Mr Leslie Duguid joined the Bank of Australia as Teller
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1832 Bank of England Charter renewed.
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1834 Sydney had 2,000 houses, Brisbane and Perth were not yet 10 years old,
1834 Melbourne and Adelaide did not exist
1834 more than a third of what was then the Commonwealth was concentrated in Tasmania
1834 August 5 Rate of interest for loans, etc was fixed at 8% per annum.
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1834 September 8 Monday a notice appeared in the Sydney Herald :- "Commercial Banking Company of Sydney"
"It is proposed the institute an additional Discount Bank on Sydney, to be conducted on the principle of the Scotch Banks, and with a view of affording the Community at large, greater facility in the transaction of money matters, to discount at least three times a week.
"Great inconvenience is at present felt from the existing Banks confining their Discounts to one day in the week.
The high rate of Discount obtained by private individuals toward the end of the week, and the number and quality of the bills offered, at once shows the existence of the evil, and confirms the fact that there is abundance of good Bills in the market, which the Banks, though liberal in their Discounts, either do not, or have no opportunity of Discounting.
"The very high rate of Premium upon Bank Shares, and the competition which exists for them, tend to confirm the prosperity and stability of the present Banks, at the same time giving proofs of a considerable sum of unemployed capital, and afford good grounds for believing that by the dissemination of the Shares of another Bank and the Trading and Agricultural interests, much general benefit would accrue, and the business of the Colony be in a great measure secured to Colonial Institutions, instead of being transacted by a Bank having Managers and Proprietors in London, and Branch Banks in different Colonies, mismanagement of any one of which might involve the ruin of the whole.
"It is considered that a Bank consisting of 1200 Shares of 100 pounds each, affording a nominal Capital of 120,000 pounds, can successfully be established in Sydney, and can commence business upon a general call of 10% which, with the amount of holders of the first 250 shares are desirous of paying up, insures a Capital of at least 20,000 pounds at starting; but as 1200 Shares have already been subscribed for, the application for many others made, without any opportunity for the Agricultural part of the Community to come forward, a Meeting of Subscribers will be held at the Pulteney Hotel on Tuesday next, the 9th instant, at Twelve o'clock prcisely, to consider how far it is advisable to extend the shares to 1500.
"In the meantime, application for Shares will be received by the undersigned.
Leslie Duguid,
Interim Secretary. Sydney, September 5, 1834"
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1834 September 9:
Proprietors of the Commercial Banking Company of Sydney (CBCofS) held their first meeting in Pulteney Hotel Bent & O'Connell Streets, Sydney.
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1834 September 24 Wednesday
a meeting of CBCofS subscribers was held at the Pulteney Hotel for the purpose of receiving the report of the provisional Committee and proceeding to the election of a President, Board of Directors and Solicitor. The qualification of a director was the holding of 20 shares or having at least 10 shares on which 200 pounds would be paid up.
At this meeting the following were elected as Directors of the Bank:-
Chairman: William Macpherson
Deputy Chairman: John Lamb
Directors: Thomas Barker, Robert Scott, Robert Johnston, Thomas Marsden, Robert How, F.A. Hely, JT Goodsir, Joseph Hickey Grose, Roger Therry, Thomas Potter Macqueen.
Mr Lesslie Duguid was appointed to the office of CBCofS Managing Director and Cashier and Mr Francis Stephen was elected as the bank's first Solicitor.
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1834 October 24 a special meeting of the proprietors of CBCofS was held in the Pulteney Hotel for submitting a Deed of Settlement for the approval of the meeting. The Deed was approved.
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1834 October 27 The following advertisement appeared in the Sydney Herald:- "Commercial Banking Company of Sydney"
"Notice is hereby given that the Deed of Settlement as agreed at a meeting of the Proprietors held this day at the Pulteney Hotel will be ready for signature on Saturday 1 November at the temporary office of this Bank, No 1 Colonnade, Bridge Street; where the first instalment of 5 pounds per share will be received and the business of the Bank for the present carried on. No notes payable on demand will be issued by this Bank before Proprietors holding at least 1500 shares have subscribed to the Deed and due notice will be given of the days on which the Directors propose meeting for the purpose of discount.
By order of the Board of Directors,
Lesslie Duguid, Managing Director,
No. 1 Colonnade, Bridge Street, October 24, 1834"
1834 October 30 was date of Notice in the Sydney Herald announcing tha the "Bank [CBC] will on
1834 November 1 discount approved Bills not having more than three months to run"
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1834 Nov 1 The Commercial Banking Co of Sydney opened its doors in The Colonnade. Sydney.
The second oldest bank in Australia, after Bank of New South Wales which was formed in 1817.
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1834 November 4 Tuesday was notice in the "Australian":- "The Directors of the Commercial Bank sat for discount for the first time on Saturday last, according to public advertisement. We are given to understand that the enormous amount of upwards for 16,500 pounds was prtesented to the consideration of the Directors and that scarcely a sixth part of that sum was taken into consideration." 1 November 1834 may be regarded therefore as the day the bank opened for business.
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1834-1981 The Commercial Banking Company of Sydney Limited
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1835 March population of Maitland was 1456 with 536 in Newcastle
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1835 March: decision was made to open CBCofS Maitland agency
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1836 July 16 CBCofS moved to new bank premises in George Street Sydney
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1838 Clydesdale Bank is established in Scotland
1838 January 26 was 50 years since Colony of New South Wales was established
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end of 1830s wool fell by 50%
end of 1830s two year drought into the early 40s
end of 1830s labour was very expensive as the drought continued
1839-40 Wool was bringing a high price drought continued
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1840 Jan 1 CBCofS Branch closed at Melbourne as financial depression of the 40s drought continued
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1842-43 the depression continued.
Sheep sold for as low as 6 pence per head.
Drought continued. Stations were given in.
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1843 Bank of Australia "the second bank" closed its doors in the financial depression. Drought continued.
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1843 end - signs of recovery were visible
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1844 Mar 31 CBC Branch closed at Goulburn in financial depression of the 40s
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1844 Mar 31 CBCofS Maitland had been converted from Agency to Branch
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1844 Mar 31 CBCofS closed Maitland branch in financial depresssion of the 40s
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1844 CBCofS closed all branches due to a depression throughout the colony
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1845 July Retirement of Mr John Lamb from Chairman & Director of CBCofS
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1845 July 18 Mr Edward Knox was appointed a director of CBCofS
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1847 Jul 7 TA Dibbs joined CBCofS at Geo St near King St
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1847 July 13 Half-Yearly Meeting defalcations totalling £10,700 of Accountant and of the Managing Director through embezzlement.
The Managing Director was dismissed and Mr Edward Knox appointed Managing Director.
£100 was awarded to bank clerk Mr Harkness for discovering the defalcations.
Two Inspectors were appointed to inspect monthly the books and papers and report monthly to the Board, and to half yearly general meetings. Five Guineas per month was to be paid to the Inspectors. --------------------------------------
1847 Nov 22 Mon General Meeting to wind up old bank into new bank.
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1847 Sir Edward Knox became Managing Director of CBCofS
1847 John Lamb became Chairman of CBCofS
1847 Thomas Allwright Dibbs joined the Bank's service
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1848 May 15 New Bank CBCofS was incorporated as a limited liability company
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1848 June 17 Act of Incorporation of CBCofS was assented to
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1848 Sir Edward Knox appointed manager of CBCofS
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1849 January 16 first meeting of shareholders of CBCofS as a limited liability company
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1851 Feb 12 gold discovered at Bathurst by EH Hargraves
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1851 April CBCofS purchased from Mr Moses Joseph land on the corner of George & Barrack St 92 feet for £3900
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1851 strip in Barrack St was purchased by CBCofS Barrack St is where the Barracks were prior to Vic Barracks at Paddington
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1851 Sir Edward Knox transferred from Manager of CBC Ltd to Director of CBC Ltd
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1851 CBCofS Accountant Mr AH Huthinson promoted to Manager of CBCofS
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1851 August 16 Charles La Trobe, lieutenant-governor of Victoria, declared that gold in its natural place of deposit belonged to the Crown, and no person should dig for it until licensed at a cost of 30 shillings a month.
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1851 September, a year after the colony of Victoria was formed, 75-year-old John Dunlop found gold under the wattle trees at Ballarat.
Shepherds deserted their flocks, bank tellers deserted their counters and servants deserted their masters to take to the diggings at a rate that greatly alarmed the British authorities. Gold held the promise of release from wage slavery and, like office workers queuing for a lotto ticket, labourers throughout the colony, and indeed in England, Scotland, Ireland, Wales, California, France, Italy, Canada and later China, queued for transportation to the Australian goldfields.
1851 September 23, in a letter to his friend Karl Marx on September 23, 1851, Friedrich Engels remarked that the scale of the Australian gold strikes had the potential to turn the world upside down. Certainly for the fine English gentlefolk of the colonies it must have seemed as though that had already happened.
Moral sermons from church men about the evils of easy money, grog and dissolution appeared to have no impact on the grubby diggers that began to appear, drunk and rich, in previously exclusive and refined establishments of Sydney and Melbourne.
But the excitement posed more serious threats to the British colonists. The radicals and republicans of Sydney and Melbourne had already begun to talk of forging a new, independent nation from the newly found riches. Convict transportation, already in steep decline, was brought to a halt by the phenomenon — the British government loath to send criminals, for free, to make their fortune in Australia.
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1852 Oct The Bank of Victoria Ltd formed
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1852-1927 Bank of Victoria Ltd
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1852 November Mr AH Hutchinson resigned as Manager of CBCofS after service in the Bank of for 13 years. He died shortly thereafter.
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1852 November Mr John Taylor appointed Manager of CBCofS
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1853 January 3 The Bank of Victoria Ltd opened for business in Swanston Street, Melbourne
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1853-1854 Bendigo Bank
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1853 Jan 17 CBCofS Melbourne branch was established
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1853 CBCofS Melbourne branch was closed
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1854 Bendigo Bank merges with Bank of Victoria
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1854 CBCofS occupied new premises at 343 George St
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1855 CBCofS Haymarket, our oldest city branch, opened at 563 George Street Sydney on a corner on the eastern side of George Street (later to become City Council Library)
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1855 The Colonial Bank of Australasia is established
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1856-1918 Colonial Bank of Australasia Ltd
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1856 CBCofS was representative of Bank of Vic in NSW
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1856 Manager of CBCofS, Mr John Taylor, resigned to join Gilchrist Watt & Co
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1856 Mr Zachary Ingold was appointed Manager of CBCofS
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1856 Sir Edward Knox was transferred from CBCofS Director to CBCofS Auditor.
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1858-1981 The National Bank of Australasia Ltd
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1858 The National Bank of Australasia (NBA) is established in Melbourne
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1858 December Mr Robert Napier appointed Manager of CBCofS
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1858 December CBCofS Morpeth branch opens
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1859 CBCofS Maitland re-opened
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1859 Queensland becomes a separate colony
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1859 August 8 London branch was opened
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1859 Yorkshire Bank is established
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1859-60 CBCofS branches were opened at:- Albury Wollongong West Maitland Cooma (by Mr TA Dibbs) Eden Queanbeyan Kiama Shoalhaven
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1860 Mr Richard Jones became Director
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1861 Bank of New Zealand (BNZ) is established
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1861 TA Dibbs opened Cooma branch of CBCofS
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1862 Sir Edward Knox transferred from CBCofS Auditor to CBCofS Director
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1862 Dec 2 CBCofS Brisbane branch was opened
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1862 Dec 2 CBCofS Agency at Maryborough was converted to a branch
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1863 amendments were made in CBCofS Deed of Settlement by Act of Parliament with Directors of the Company to be :- John Henry Challis, Stuart Alexander Donaldson, John Lamb, Henry Watson Parker, Henry Gilbert Smith.
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1863 May 1 The two shops between Bank of NSW were acquired one by Bank of NSW and the other by CBCofS.
1863 CBCofS extended 343 Geo St to the boundary of the new building purchased.
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1865-1955 Ballarat Banking Company Ltd
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1865 The Ballarat Banking Company is established
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1867 March 20 Manager of CBCofS Robert Napier Esq passed away
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1867 Mr TA Dibbs Assistant Manager appointed Manager of CBC. 1867
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1870 CBCofS Molong building is built
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1870 gold fever in nsw ended
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1872-1948 Queensland National Bank Ltd
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1872 The Queensland National Bank is established
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1877 disastrous drought brought ruin to many pastoralists
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1878 Sir Edward Knox no longer a Director
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1882 General Manager CBCofS was title previously Manager CBCofS. Thomas Allwright Dibbs, the Manager, was appointed General Manager.
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1884 disastrous drought brought ruin to many pastoralists
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1885-1917 Royal Bank of Queensland
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1885 Mr James Rennie Dryhust joined the staff of CBCofS
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1886 The Bank of Queensland is established
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1888-1917 Bank of North Queensland Ltd
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1892 disastrous drought brought ruin to many pastoralists
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1892 Director Mr Richard Jones passed away
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1892 Mr Jones' son Richard Jones appointed Director
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1893 June 19 Monday CBCofS Ltd re-opened doors
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1893 October 16 first general meeting of CBCofS Ltd when former directors were elected:- Hon. Edward Knox M.L.C. Chairman, Mr George Judah Cohen (Deputy Chairman), Hon. Henry Edward Kater, M.L.C., Mr. Richard Jones. Mr TA Dibbs remained General Manager
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1917 Thomas Allwright Dibbs knighted for services to banking.
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1920 Adelaide Office opened.1927 C.B.C. amalgamated with The Bank of Victoria. 1955 Perth Office opened, 1956 C.B.C. Savings Bank Limited established. 1958 Bank established Commercial & General Acceptance Limited 1958 Hobart Office opened.
1966 Fernleigh Castle established as CBC Bank's principal staff training college.
1969 Jan 2 Circular from General Manager Mr R H S Cavan that CBC is talking to NBA about amalgamating operations to give each bank better representation throughout Australia
1969 Dec 16 Advice to Managers and staff that merger discussions with NBA have ceased
1969 First Instant Cash Dispenser in Australia installed at Double Bay Branch
1970 July Administrative Officer (Automation) establishes Forms Control (later Forms Design) Section to Procedures Department in Systems Division
1971 Darwin branch opened.
1972 St. Leonards Centre officially opened.
1973 March R Raymond-Jones joined Procedures as Senior Forms Officer reporting to Greg Thorp (to G Owens to D Smith to R Howard to N Winckle)
1973 the other Snr Procedures Officer Les Saker was in charge of Consolidated Circular Instruction Book which became the Procedures Manual
1973 New York Representative Office opened.
1973 C.B.C. appoints first female branch accountant in Australia.
1975 C.B.C. appoints first woman branch manager in Australia.
1977 Tokyo Representative Office opened.
R Raymond-Jones became Manager Forms Design with G Foulcher handing to J France Snr Procedures Officer Automation Procedures Manuals. G Foulcher moved to Chief Procedures Officer
1979 approx Forms Design & Procedures moved from Level 7 to Level 4 at St. Leonards Centre.
1980 major rationalisation of the branch network was virtually completed during the year to 30 June 1980. Three new branches were established, two branches were reduced in status and representation was withdrawn from two points, leaving the Bank represented at 613 points compared to 653 in June 1976.
An accelerated program of remodelling or replacing branch buildings has been commenced and total expenditure on premises rose sharply during the year to 30 June 1980. (1980 Annual Report page 5)
1978 decentralising of the administration of the branch network was continued during the year with the establishment of additional regions in New South Wales and Victoria.' (1980 Annual Report page 5). G Owens handed over Chief Programmer to Peter Dominish (1981 May Current Accounts Pg 11 - "Procedures and Forms Design operated under Systems Division"
1981 May 21 CBC & NBA issued joint statement on merger
1981 CBC Annual Report : "Number of Branches, Sub-Branches & Branch Agencies 618 . Staff 7,080 Planning is proceeding for redevelopment of the Head Office Project with completion in 1985. New Bank will have nearly 1300 branches"
1981 October 1 CBC was subsidiary of NBA
1982 January 1 CBC & NBA branches became National Australia Bank
1982 Merged with National Bank of Australasia Limited (which had commenced operation in 1858) to form National Commercial Banking Corporation of Australia Limited.
1982 P Dominish took over from David J Smith who moved to Charge Card Services
1983 January 4 name changed from National Bank of Australasia Ltd (NBA) to National Commercial Banking Corporation of Australia Ltd (NCB)
1984 Oct 4 name changed from National Commercial Banking Corporation of Australia Ltd (NCB) to National Australia Bank Limited (NAB) 2006 Merged bank to be known simply as "nab".
Details supplied by John Beer
Last modified: 29/12/2010 13:58
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