There was little excitement, and not much expression of
angry feeling. Mr. William Holliday, in a very masterly speech of
great length, showed the difficulties in the way of reviving the
bank, and suggested that the only way of saving the property of the
shareholders, was by the establishment of a new bank on the ruins
of the old, the shareholders in which were to have priority in the
allotment of shares. This, having, been discussed by several speakers,
was eventually decided upon, and a committee was appointed to carry
the resolutions into effect.
The new bank, under the name of the "Birmingham Banking Company
Limited," was formed with all speed. Josiah Mason--then plain
Mister--was the first chairman, and Mr. T.F. Shaw manager. The shares
"came out" at a small premium, from which they gradually rose. From
that time it has gone on steadily and surely. It has secured a good
_clientele_, and is doing a large and profitable, business. It pays
good dividends, and its shares stand well in the market.
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