Spring 2022

LOCAL HISTORY
The Problem with Banks
Ann Historian takes
us for a swift tour of
banking in Cranbrook
We have just
heard the news
that NatWest
bank in
Cranbrook will
be closing. This is sad because
we all prefer the familiar faces of
their staff to the faceless robotic
telephone messaging and lack
of assistance in an emergency.
But banks and their problems
are nothing new in Cranbrook!
Let me take you for a short walk
through the history of banking
in our town, right from the
beginning.
PROUD TO BE SERVING THE
COMMUNITY SINCE 1852
Your fully independent, family owned, Funeral
Directors serving the local community with
compassion and the highest standards of
service and professionalism.
With our 24-hour emergency service, we are only
a telephone call away.
At the earliest stage possible, you will speak directly
with one of our experienced Funeral Directors, who
will be there to help, support and guide you through
the whole of the funeral process.
Bank Street, Cranbrook,
Kent TN17 3EF.
01580 713636
enquiries@jperigoeandson.com
Dixter Road, Northiam,
East Sussex TN31 6LB.
01797 260316
www.jperigoeandson.com
J. Perigoe & Son is a Trading Division of West & Coe Limited,
602 Rainham Road South, Dagenham, Essex RM10 8YP.
The first bank opened in 1803 in the building
on the corner of the High Street and Stone
Street, now “Country Style”, formerly known
as “Susan Dean”.
The first bank opened in 1803
in the building on the corner of
the High Street and Stone Street,
now “Country Style”, formerly
known as “Susan Dean”. It was
a branch of Rochester Bank,
opened to service the growing
wealth of hop farmers in the
area. It didn’t last more than a
year! The second bank in the
town was the Cranbrook and
Weald Bank, based in what is
now Quilters Dry Cleaners (best
dry cleaners in the world!). They
spent a lot of money giving the
outside the “Pantiles Look”. In
those days, the average annual
wage in England was £42 which,
compared to the rest of Britain
at £23/10s, wasn’t too bad. If you
rented a four-bedroom house
in the 1800s, the rent would be
about £4/10s a month. If only!
The Cranbrook Bank failed as
well. Then was the turn of John
Wilmshurst, of Osborne Lodge in
Beggars Row (renamed Waterloo
Road after Wellington’s great
victory in 1815), and William
Hague to set up a new bank in
Cranbrook. Hague lived in the
existing NatWest Bank building
on the corner of Brewhouse
Lane, and housed there the
bank thrived for 10 years after
the Napoleonic wars. They were
taken over in 1847 by London
and County Bank, their location
at Brewhouse Lane became
known as Bank Street. The bank
merged with the Westminster
Bank in 1867. Westminster
Bank merged with the National
Provincial Bank in 1970 to
become National Westminster
Bank; and now they’re off as well.
22 The Cake • Spring 2023