Strapetona

Banking in Thrapston

In 1783, George Eland had a drapers shop on the site now occupied by Barclays Bank. He evidently combined his business with banking because in 1812 he was described as a banker as well as a draper. In that year he became associated with the Stamford and Rutland Bank and a partnership was formed to carry on a banking business under the name of the Thrapston and Northamptonshire Bank. The proprietors were William Johnson, Stephen Eaton and George Eland. The first two were the original proprietors of the Stamford and Rutland Bank but the day to day business of the Thrapston Bank was left to George Eland. This arrangement continued until William Johnson died in 1819.

Stephen Eaton took Edward Cayley into partnership to run the affairs of the Stamford Bank but no addition to the partners of the Thrapston Bank was made. By a deed of 31 August 1822 George Eland, who had for many years carried on the two businesses of banker and linen draper, leased his premise to his eldest son George Eland, to carry on the business of linen draper. However, he reserved for his own use the rooms used by the bank.

In 1823 George Eland (presumably the younger) was described as a linen and woollen draper and there is no evidence that he played any part in the bank, although he may have entered it some time before his father's death to 3 May 1833. After this date he became a banking partner but there was no change in style until the death of Stephen Eaton in 1834. From this date there was no further connection with the Stamford Bank until it finally amalgamated with the Stamford, Spaldlng and Boston Banking Co in 1891.

Soon after the death of Stephen Eaton, John Yorke became the partner of George Eland and the bank was known as the Thrapston and Kettering Bank. The change of name was because they opened a branch in Kettering. The Charter Act of 1844 limited the note issue by banks. However, authority was given for John Yorke and George Eland of the Thrapston and Kettering Bank to issue notes to the value of £11,559.

In 1863 Robert Fowler Eland was taken into partnership. He may have been the son of George Eland. In 1864 John Yorke's name ceased to appear and the business became known as Eland and Eland. A deed of 31 December 1864 refers to the "building recently erected for the purpose of carrying on the banking business". This is possibly the building now standing on the site.

When George Eland died the remaining partners continued the business for 16 years, but in July 1888 found themselves in financial difficulties. Their statement of affairs on 3 August 1888 showed assets of £64,OOO to meet liabilities of £84,OOO. The liquidators accepted the offer of the Stamford Spalding and Boston Banking Co to pay unsecured creditors fifteen shillings in the pound and to take over the premises and goodwill at valuation. This company had not previously been represented in either Thrapston or Kettering although there had been a link through Stephen Eaton as mentioned above.

The Stamford Spalding and Boston Banking Co amalgamated in 1911 with Barclay and Co which, in 1917, became Barclays Bank. Barclay's branches at Thrapston and Market Place, Kettering are the successors to Messrs Eland and Eland.