The North and South Wales Bank

[1] A prospectus was issued offering shares of £20, with £10 paid up, and calling attention to the needs of: “extensive and important mining, manufacturing and agricultural districts comprised within the proposed sphere of operations" The prospectus went on to state that: "proprietors of collieries, mining and smelting works are reduced to the necessity of doing most of their banking business out of the district, and in some instances, of submitting to the inconvenience of being their own bankers!”[1] The bank envisaged a branch system that would extend throughout Wales, despite the challenges concerning transport and communication, as there were no railways in Wales at this time.

These deputations were equipped with "a phaeton and a good strong horse" and were sent throughout Wales with: "full powers to treat with any bank or bankers for the purchase of the business of their establishments and also for the appointment of any clerk or clerks they may think fit" the deputations were also to: "proceed to such places as they may think proper with a view to open banks”[1] Sir Love Parry Price Parry, Ambrose Lace and John Dean Case were appointed trustees of the bank.

[1] In the first year of operations the bank had established 13 branches and 10 sub-branches, the furthest one being 100 miles from Liverpool.

In 1880 the bank moved to premises in the Town Hall where they employed 10 clerks and it remained here until completion of a new building in 1900 made from locally quarried Talacre stone and Ruabon red bricks.

[1] Under the management of George Rae (banker) the selection and training of staff and the efficiency of book-keeping systems were given high priority in comparison with other country banks.

The merger was initiated by Sir Edward Holden, 1st Baronet who was the chairman of Midland Bank and its managing director (chief executive officer).

In particular, the business cycle of the cotton industry and the Panic of 1907 led to a decision to merge with Midland Bank.

[10] Plaid Cymru has said that Wales should be given back the powers to create its own bank notes, in order to give the nation equal status with Scotland and Northern Ireland.

Jonathan Edwards (Welsh politician), the party’s Treasury spokesman, said that Wales had been: “denied an opportunity to be treated as an equal nation within the UK”.

The proposal would see a new private bank granted the power to issue its own notes for the first time in more than 170 years.