Fox, Fowler and Company
From Wikipedia, the free encyclopedia
Fox, Fowler, and Company was a British private bank, based in Wellington, Somerset. The company was founded in 1787 as a supplementary business to the main activities of the Fox family: shepherding and wool-making.
Under the Bank Charter Act 1844, no new banks could issue notes in the United Kingdom, and the number of note-issuing institutions fell gradually with financial sector consolidation. Fox, Fowler, and Company was the last commercial note-issuing bank in England and Wales, until it was bought-out by Lloyds Bank in 1921. [1] Some commercial banks in Scotland and Northern Ireland retain the right to issue bank notes, but only the Bank of England may now issue sterling bank notes in England and Wales.
[edit] References
- ^ Peter Mathias, The First Industrial Nation, Routledge, pp. 326, ISBN 978-0-415-26672-7
