This joint stock bank was formed in 1874 to acquire the business of the existing private bank Dumbell, Son & Howard (est. 1853), based in Douglas with branches in Castletown and Ramsey. Its paid-up capital was £60,000.
The bank assumed limited liability in 1874, becoming Dumbell's Banking Co Ltd. In 1899 its balance sheet totalled £1.3 million, but the bank was troubled by substantial bad debts.
In 1900 the bank suspended payments. Its premises and goodwill were acquired by Parr's Bank for £40,300. The bank’s managers were later jailed in connection with the bank’s failure.
Branches: at the time of its suspension of payments in 1900, the bank was operating 4 branches and one sub-branch.
- C Chappell, The Dumbell affair (Prescot: 1981)
- TE Gregory, The Westminster Bank through a century (London: Oxford University Press, 1936)
- E Quarmby, Banknotes and banking in the Isle of Man (London: 1994)
- M Solly, Banks in the Isle of Man (Isle of Man: 1995)
Summary of our archive holdings
Our archival records of Dumbell's Banking Co Ltd have the reference code DUM.
For help understanding words used here, check our glossary of banking record types (PDF 68 KB).
- memorandum and articles of association 1874
- share certificates 1874, 1897
- circular letter from Bank of Mona 1876
- half-yearly reports 1879-98
- share certificate 1897
- banknotes late 19th cent.
- presscuttings 1900
- amalgamation papers 1900
Summary of archive holdings elsewhere
- Manx National Library and Archives: Correspondence of George Dumbell re establishment of bank 1853-61; miscellaneous personal and business papers of Dumbell family n.d.; balance sheets 1885-99 (Ref: Bridge House Papers MS 4126 C; MD 229; MD 15006).