Session 2: A Bank in Trouble
General Summary
Thursday 25th February 1886
On the 24th of February 1886, the following notice was placed on the front door of the Commercial Bank of South Australia at 74 King William Street - "This Bank will be closed until further notice. A special general meeting of shareholders will be held tomorrow at twelve o'clock in the morning. By order of the Board. Alex Crooks, Manager". Sir Henry Ayers instructs the party to save the bank, a test of their capability. At 12:00 pm on the 25th in the Auditorium of the Adelaide Town Hall, the party joins the shocked and hostile shareholders. Many attendees are intent on lynching the Board of Directors, the Bank Manager Alexander Crooks, and the Bank Accountant, Alexander M. Wilson. Crooks and Wilson are arrested by Detective Peter Dunlevey and his constables, partly for safety from enraged shareholders, and removed from the meeting. After a spirited discussion, a "no confidence in the Board" motion is put forward by James Sinclair Hindmarsh, seconded, and passed by unanimous vote. The shareholders are then treated to an inspirational speech by James Arthur Howard, the career diplomat. The party are nominated as the replacement Board of Directors, with James Arthur as the Chairman of the Board. Both votes are unanimous, again. The shareholder meeting winds up and the new Board of Directors walk north along King William Street to the bank's Head Office which is, surprisingly, already open for business.Created Content
Person
Mr. Cauldfield Barton, English, new Bank Manager, Commercial Bank of South Australia (previously Manager, Gawler Branch)Mr. Theodore Berens , German, new Bank Accountant, Commercial Bank of South Australia (previously Ledgerkeeper A to D, Head Office)
Mr. Jonathan Breuer, Austrian, Inquiry Agent for Sir Henry Ayers
Mr. Andrew Burchell, English, Detective, South Australian Police
Mr. Alexander Crooks, former Bank Manager, Commercial Bank of South Australia
Mr. Peter Dunlevey, Irish, Detective, South Australian Police
Mr. Edern Grenville, Cornish, Inquiry Agent for the League of Gentlemen
Mr. Alexander M. Wilson, former Bank Accountant, Commercial Bank of South Australia
Landmark
Commercial Bank of South AustraliaSouth Australian Hotel
Organisation
Commercial Bank of South AustraliaSouthern Cross Hotel
Document
General Abstract January 1886, the most recent financial results published by the Bank's Manager and Accountant Minutes of Commercial Bank of South Australia Shareholders' Meeting, Thursday 25th February 1886 (as recorded by Thomas Wellington)South Australian Weekly Chronicle, Adelaide, 27th February 1886, article on:
- the arrest of Alexander Crooks and Alexander McKenzie Wilson by Detective Dunlevey and several constables from the South Australia Police
- shareholders' meeting of the Commercial Bank of South Australia
- appointment of the new Board of Directors
- appointment of a new Chairman, Board of Directors
- reopening of the bank with considered restrictions on withdrawals for the time being.
Sanford Cleve Kirkham
Head Alienist Dr Sanford Cleve Kirkham
( 64 / Male ) from
Adelaide Lunatic Asylum at North Terrace
James Arthur Howard
Diplomat James Arthur Howard, Esq.
( 46 / male ) from
Adelaide
Report Date
08 Nov 2020
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