THE FIRST BANK.

New Zealand Mail, Issue 938, 21 February 1890, Page 19

THE FIRST BANK.

TO THE EDITOR OF THE NEW ZEALAND MATE. Sir, —lt is stated in your issue of the 24th that ‘-‘ By the ship Glenbervie, which arrived in 1849, the iron safe ap,d other necessary materials for the establishment of the first bank (a branch, of the Union Bank of Australia) was landed,” eta. The abpvo is clearly a

mistake, for when I arrived in Wellington in 1848, the bank was then in existence in Lombard-street, under the managership of the late Mr Alexander McDonald, who died in Sydney in 1888, and I have always been given to understand that it was established shortly after the foundation of the settlement.—l am, etc. J. E. W ATKIN Sydney, 11th February. TO THE EDITOR OF THE NEW ZEALAND MAIL. Sir, — It strikes me that the date of 1849, given in your journal of 24fch January (according to Mr Watkin) must be a printers’ error, and ought to have been 1840 or 41 (whenever the Glenbervie arrived). When I arrived in Wellington in November, 1842, I found the Union Bank established in Lombardstreet (probably so called from that very reason). It was managed by an elderly Scotchman, a Mr Smith, who it was stated sat by day and slept by night on a big iron box, which constituted the bank safe, and contained its cash. From this fact he got the “sobriquet” of Johnny Box, and was seldom spoken of otherwise. Mr Alexander McDonald mentioned by Mr Watkin, was at that time, and for several years after, manager of the Nelson branch of the same b.Tnk, and removed to Wellington about 1848. . I kept my accounts for several years at the two establishments—Wellington and Nelson, so may be regarded as an authority. Mr McDonald was afterward promoted to the management of the Union Bank of Sydney, where, during the early gold period he carried on the bank’s affairs with great ability and success, and afterward went into commercial business on his own account, in which, I believe, ha was equally successful. I had the pleasure of seeing him there in 1884.—1 am, &c., W. Fox. Wellington, February 18. TO THE EDITOR OF THE NEW ZEALAND 'iIMES. Sir, —In to day’s issue of your paper appears a letter from Mr J. E. Watkin, formerly a resident ,of Wellington. He is correct in what he states about the U.B A. But to come a little nearer to its establishment here, I may state that when 1 arrived at Wellington, in the early part of 1842, it was flourishing, and the manager was one John Smith. At that time there lived at Pipitea a man named John Box, a sort of veterinary surgeon. One night some wags removed his signboard and stuck it up over the bank in Lombard-street, much to the disgust of the manager when he discovered it in the morning. By this practical joke he was afterward popularly known by the name of Johnny Box.—l am &c., Balina. Wellington, 18th February.