This marker is on the former National Westminster Bank building which is on the corner of Peel Street and Albert Street in the town of Ramsey.
This fine three storey building on the corner of Albert Street and Peel Street was built in 1890 as the Ramsey Branch of Dumbell's Banking Co. Ltd.
The Building is No. 3 on Ramsey Rotary Club's Heritage Trail in Ramsey and is entitled - 3. National Westminster Bank.
This former National Westminster Bank on Albert Street/Peel Street, Ramsey is now a Bridal wear/dressmakers shop and also six residential apartments.
Dumbell's was formed in 1874 as a joint stock bank to acquire the business of the existing private bank Dumbell, Son & Howard (est. 1853), based in Douglas with branches in Castletown and Ramsey. Its paid-up capital was £60,000.
The bank assumed limited liability in 1874, becoming Dumbell's Banking Co Ltd. In 1899 its balance sheet totalled £1.3 million, but the bank was troubled by substantial bad debts.
In 1900 the bank suspended payments. Its premises and goodwill were acquired by Parr's Bank for £40,300. The bank’s managers were later jailed in connection with the bank’s failure.
Branches: at the time of its suspension of payments in 1900, the bank was operating 4 branches and one sub-branch.
Parr's Bank Ltd was established in Winwick Street, Warrington, in 1788 as Parr & Co by Joseph Parr, sugar refiner, Thomas Lyon, brewer and sugar refiner, and Walter Kerfoot, attorney; it was also known as Warrington Bank. The bank was styled Parr, Lyon & Greenall from 1825 to 1851 and Parr, Lyon & Co from 1855 to 1865. Branches were opened in St Helens (1839) and Runcorn (1853). In 1865 the bank was reconstructed as a joint stock bank with limited liability, Parr’s Banking Co Ltd. The partners in the old business were paid £100,000 and the paid-up capital of the new bank was £100,000. Joseph Parr's son Thomas Parr was appointed chairman and the bank recruited John Dun, from Bank of Scotland, as its first general manager.
In 1877 a purpose-built banking house was opened in Winwick Street. The bank expanded by acquisition of Thomas Firth & Sons, bankers of Northwich, in 1865; Thomas Woodcock, Sons & Eckersley, bankers of Wigan, in 1874; Dixons & Co, bankers of Chester, in 1878; F W Jennings, bankers of Leek, in 1878; Shrubsole & Co, bankers of Kingston-upon-Thames, in 1894; National Bank of Liverpool Ltd, in 1883; Fuller, Banbury, Nix & Co, bankers of London, in 1891; Alliance Bank Ltd, bankers of Liverpool and London, in 1892; Croxon, Jones & Co (Old Bank) Ltd of Oswestry, in 1894; Sir Samuel Scott Bart & Co, bankers of London, in 1894; Consolidated Bank Ltd, of Manchester and London, in 1896; Derby & Derbyshire Banking Co Ltd, of Derby, in 1898; Ashton, Stalybridge, Hyde & Glossop Bank Ltd, of Ashton-under-Lyne, in 1900; Dumbell’s Banking Co Ltd, bankers of Douglas, Isle of Man, in 1900; Pares’s Leicestershire Banking Co Ltd, of Leicester, in 1902; Whitehaven Joint Stock Banking Co Ltd, of Whitehaven, in 1908; Robin Brothers, bankers of Jersey, Channel Islands, in 1908; Stuckey’s Banking Co Ltd, of Taunton, in 1909; Crompton & Evans’ Union Bank Ltd, of Derby, in 1914; and Thomas Barnard & Co, bankers of Bedford, in 1915. In 1892 the bank became known as Parr’s Banking Co & Alliance Bank Ltd. By 1890 it had 43 branches and sub-branches, rising to 136 in 1900 and to 329 by 1918. In 1896 the company’s name was shortened to Parr’s Bank Ltd. In 1918 Parr’s Bank Ltd amalgamated with London County & Westminster Bank Ltd of London, to form London County Westminster & Parr’s Bank Ltd.
Through subsequent mergers and acquisitions London County Westminster & Parr's Bank Ltd evolved into National Westminster Bank (NatWest) which was the name of the last bank to operate a branch from this building.
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