Bank of Liverpool

Chandler stressed the prudent policy of the directors and it did enable the Bank to weather the frequent financial crises.

In particular it remained profitable in 1847 when the similar-sounding Royal Bank of Liverpool failed, also during the American Civil War which disrupted the cotton trade, and the collapse in 1866 of Overend, Gurney and Company.

It first consolidated its position as the premier Liverpool bank by acquiring Arthur Heywood, Sons and Company in 1883.

[4] Arthur and Benjamin Heywood were merchant traders, becoming "experienced in the African trade, engaged to some extent in privateering and had their Letters of Marque".

In 1888 the Bank took over the Liverpool business of Brown, Shipley & Co. when the latter moved its headquarters to London.

At the time of its acquisition its head office was at Skipton and there were 14 branches, taking the Bank of Liverpool's total to 71.

Succession issues at the North Eastern led to its management approaching the Bank of Liverpool with a view to merging.

In 1914 the two banks agreed the merger (although, in practice, it was a takeover by Liverpool) and formed the largest English bank with its head office outside London; the North Eastern, headquartered in Newcastle, brought with it 72 branches and 27 sub-branches.

Unsuccessful overtures were made to both Glyn's (the bank's London agent), and to Cocks, Biddulph.

The increased standing possessed by the Bank of Liverpool following its entry into the clearing house system then persuaded the private West End firm of Cocks, Biddulph[11][full citation needed] to agree to its acquisition.

[4] Fresh from its acquisition of Martins and Cocks, Biddulph in London, the bank sought to consolidate its position in the north of England.

The Palatine had been established in 1899, in response to Manchester businessmen objecting to local banks falling under the control of London institutions.

It was constituted as a joint-stock bank in 1836 under the Halifax Commercial name, its immediate predecessor having been Rawdon Briggs and Sons.

New branches were regularly opened in the south of the country to complement the extensive network in the north.