Regional Bank–Industry Relations during the Mid-Nineteenth Century: Links between Bankers and Manufacturing in Sheffield, c.1850 to c.1885¹

1. This paper is based upon L.A. Newton, ‘The Finance of Manufacturing Industry in Sheffield c.1850 to c.1885’ (unpublished Ph.D. thesis, University of Leicester, 1994) and the Leverhulme Trust-financed research project, ‘The Constituencies of English and Welsh Domestic Joint Stock Banks. 1826–1885’.

Abstract

This article examines the relationships between banks and manufacturing industry in mid-nineteenth century Sheffield. It investigates the knowledge base and connections of the banks' directors and assesses the extent to which Sheffield banks were part of a regional information network concerning both investment opportunities and potential borrowers' creditworthiness. The findings reveal that close ties existed between the bankers and their customers. These took a number of forms, from interlocking directorships to ownership of local firms. A financial/industrial network appears to have existed, facilitating information flows and business contacts of vital importance in the provision of finance to local manufacturers. Moreover, the banks examined appear to have preserved impartiality when dealing with manufacturing customers as a whole and, more importantly, those in which directors were involved.

1. This paper is based upon L.A. Newton, ‘The Finance of Manufacturing Industry in Sheffield c.1850 to c.1885’ (unpublished Ph.D. thesis, University of Leicester, 1994) and the Leverhulme Trust-financed research project, ‘The Constituencies of English and Welsh Domestic Joint Stock Banks. 1826–1885’.

1. This paper is based upon L.A. Newton, ‘The Finance of Manufacturing Industry in Sheffield c.1850 to c.1885’ (unpublished Ph.D. thesis, University of Leicester, 1994) and the Leverhulme Trust-financed research project, ‘The Constituencies of English and Welsh Domestic Joint Stock Banks. 1826–1885’.

Notes

1. This paper is based upon L.A. Newton, ‘The Finance of Manufacturing Industry in Sheffield c.1850 to c.1885’ (unpublished Ph.D. thesis, University of Leicester, 1994) and the Leverhulme Trust-financed research project, ‘The Constituencies of English and Welsh Domestic Joint Stock Banks. 1826–1885’.