Early Ohinemuri Banking

Ohinemuri Regional History Journal 17, June 1973

by OWEN MORGAN

The No.1 issue of the Cyclopedia of N.Z. published in 1887 deals mostly with the Wellington Province but its Banking Section covers the whole of N.Z. as many Head Offices were located in Wellington at that time. We learn that in 1887 the Bank of New Zealand had 102 offices and that the Paeroa branch was one of these. The large building in Normanby Road had been opened in 1881 and transacted business for the whole of the Goldfields. (See Article by Miss L. Thorp in Journal 9: Page 33).

An Agency of the B.N.Z. was opened in Waihi on 24/7/1901 and on 13/1/1902 its own branch in Seddon Street established under the management of Mr. A.T. Kenrick who, remained in charge for 20 years. The premises occupied part of Mr. Archibald Clark's building later Waihi Hardware for some years. (See picture in Journal 15)[see Journal 15 images - E]. Since 1908 its business has been conducted in the present building (B.N.Z.) in Seddon Street.

Managers of the Waihi Bank of New Zealand were as follows:-

Mr. Arthur Tom Kenrick, son of Mr. Harry Kenrick (for many years Warden on the Thames Goldfield) was educated at Thames and studied Chemistry and Metallurgy at the School of Mines. He joined the B.N.Z. as a Junior at Auckland in 1885 and was soon appointed to the "ledgers", serving as accountant at Thames, Paeroa and Reefton. In 1895 he was transferred as Manager to Coromandel where his special knowledge was of great service. He was responsible for the establishment of the School of Mines, and a public battery worked by a nine-horse-power oil engine. Prominent as an outdoor sportsman, he was a leader in civic affairs.

During his 20 years as Manager of the B.N.Z. at Waihi he was well known as "Major Kenrick" being in charge of the local Volunteers and presiding over "Camps" at the Rifle Range in Worth's paddock. He continued his interest in sport, particularly tennis, and was a noted horseman, remembered by many because, mounted on his fine horse, he always led processions - especially those of children attending School Picnics. He married Miss Carlotta Haszard and they had two children, Douglas and Keitha.

The National Bank - The following quotation is taken from the Cyclopedia. "The National Bank has always been a purely N.Z. banking institution and has assisted small traders and farmers rather than the large merchants and squatters so is intimately connected with colonial enterprise. It is well known that the success attending the operations of certain of this Bank's gold-mining clients, notably the famous Waihi Gold-Mining Company is due to help from the Bank".

Managers - National Bank of New Zealand Ltd. - Paeroa.

The Paeroa Branch of the National Bank was opened in 1895, the original premises being about opposite the old "Ministry of Works" Normanby Road. The first Client was a local Builder - Mr. Sam Craig. (See Journal 16 [see Journal 16: Thames Valley Dairy Company - E]). Business expanded rapidly with the success of mining and a larger and more central site became a necessity. This entailed considerable negotiation while Mr. Inglis was Manager. It was not until 1909 that the Bank acquired the section on which Mr. Cullen's Drapery Shop then stood on the corner of Normanby Road and Mackay Street. (The Shop was moved to the present site of the Waikato Savings Bank).

In 1912 the National Bank built a Gold Refinery in Paeroa. A Director, Mr. Rose, was then a Manager for the Martha Co. [Waihi Gold Mining Co. – E] and he supervised the construction, the first Manager being Mr. Frank Budd with Mr. Len Bell as Assayer and Chemist. He was followed by Mr. Geo. Chappell after World War I. During the War, no Bullion was sent Overseas but was stored in Wellington until it was all sent to Paeroa to be refined under Mr. Chappell's supervision. Now 93 years of age, he still lives in Waihi and takes a lively interest in historical matters. An Agency of the Bank was opened in Kerepehi in 1928 and in 1970 the Paeroa Branch moved into more spacious premises on the old corner site.

Note:- An Auckland member of our Society - Mrs. Jessie Harris (nee Corkill) whose father was an early manager of the Paeroa B.N.Z. has sent us a page of the National Business Review (22-11-71) in which there is a review of the career of world figure John B. Inglis a Paeroa boy who revisited this area in 1961.

John B. Inglis was born at Coromandel shortly before his father was transferred to manage the Paeroa Branch of the National Bank in 1901. The family lived in the large two-storey house near the Junction Wharf (formerly occupied by the Nicks family and later by Mr. E. Shaw). John attended the Paeroa School but soon after his father was transferred to the S.I. in 1913 he topped N.Z. in the Scholarship Exam. This opened him the door to the Waitaki Boys High School at Oamaru and he passed the Matriculation Exam. in three years. His father's untimely death cut short his University studies and he undertook various jobs to support his Mother and sister before deciding on Accountancy as a career, He qualified through evening class studies and being a prodigious worker who welcomed challenge, he "never looked back".

A relative arranged for him to have an interview with the firm of "Price Waterhouse" in New York and from then on his success was assured. He was admitted to a Partnership at the age of 37 and retired as Senior Partner, having played a leading role in forming the world's largest international firm whose biggest accounts were those of companies such as I.B.M., N.C.R., Shell and Standard Oil. Retirement includes lecturing at the Columbia Graduate School of Business, and serving on the Board of Directors of the New Jersey Symphony Orchestra besides being host to a multitude of friends.

(Ed.)

The Waihi Branch of the National Bank was the first one to be established after the turn of the century. An agency had been opened while Mr. Crawford-Brown was Manager at Paeroa and an officer was in attendance on "Wed. and Thurs." A Bank site was purchased in the Main Street in 1899 for £200, and the Building was completed in April 1901 for £1485, opening with Mr. Crawford-Brown as Manager. He gave great service to Waihi for 20 years.

Managers Waihi National Bank:-

In 1919 the pure gold from the Paeroa Refinery was taken by train to the National Bank in Wellington, accompanied by Mr. Cochrane (Manager) Mr. Chappell and three armed guards. (No train robbery!)

From the Waihi Refinery the gold was taken to the National Bank in Auckland, (to be sent Overseas). For years it was conveyed to the Steamer in Paeroa by Mr. Pascoe, and sometimes by Mr. Roycroft or Mr. O'Shea accompanied by "guards". Then Mooney's lorry with Mr. Chappell in attendance took it, but later it went by Bus (with a Constable) to Auckland.