to London, twenty-one years ago. The Bank of
England opened a "West End" branch in Burlington Gardens, London,
and the Captain was appointed its first manager. This new branch was
opened October 1st, 1856. The resolution of the Board of Directors to
appoint Mr. Tindal to this position seems to have been taken suddenly,
for Mr. Chippindale, who had been sub-manager for some years, and was
now placed at the head of the Birmingham branch, did not know of it
until he was informed of his appointment by a customer of the bank.
This gentleman, who was a merchant in the town, tells me that he "was
the first to tell him of it. He said it was not true, and he must go
out and contradict it. I told him I _knew_ it _was_ true, but even
then he was incredulous." Mr. Chippindale has recently retired, and
has been succeeded by Mr. F.F. Barham.

Soon after Mr. Chippindale's appointment, a friend of mine received
from New York a large sum in four months' bills upon Glasgow, which
he wished to discount. He was well known in Birmingham, but had no
regular banking account. The bank rate in London was four per cent. He
took the bills first to the National Provincial Bank, where Mr. Henry
Rotton offered to "do" them at four-and-a-half. This he thought too
high, and he next took them to the Bank of England. Mr. Chippindale
told him that the rule of the bank was not to discount anything having
more than ninety days to run; but, if he left the bills as security,
he could draw against them for the cash he wanted, and, as soon as the
bills came within the ninety days' limit, they could be discounted at
the London rate of the day. This arrangement was entered into, but,
unfortunately for my friend, a sudden turn in the market sent the rate
up three per cent. within the month, so that, when the transaction was
completed, he had to pay seven per cent. It made a difference to him
of between L200 and L300.

From the time of Mr. Chippindale's appointment, the branch bank has
gone quietly on in its useful course. It does not compete much with
the other banks in general business; indeed, its office seems to be
rather that of a bank for bankers. Now that none of the local banks
issue their own notes, it is a great convenience to them to have on
the spot a store of Bank of England paper, available at a moment's
notice, to any required amount.

The ten years from 1826 were very fruitful of joint stock banks in
Birmingham. Some have survived, but many are