Many thanks Rick! Fascinating material! Diana

> Date: Thu, 13 Sep 2007 12:32:28 -0400
> From: [log in to unmask]
> Subject: Bankers at war
> To: [log in to unmask]
> When doing research for the "Lloyds Bank Economic Review" query I came
> across a few webpages that may be of interest to the group. The first
> is about what was to be done about a war memorial with which Lloyds
> commemorated its employees who died in the two world wars. I think
> Nancy will be interested in this. This page mentioned a unit called
> the Bankers Battalion.
> Seeking more information on the Bankers Battalion I came upon the
> second webpage which had the reminiscences of a member. He mentions a
> couple of times when 800 men went into action and only 100 came out.
> I picked a section to quote though that mentions 1914 pay rates,
> including that of a soldier. Later on down I'll compare that to what
> Eliot was getting paid at the time.
> The third webpage has some information on how to get a short film of
> the Bankers Battalion on parade.
> The fourth webpage will bring you to a review of the book
> "Lloyds Bank, 1918-1969" by J. R. Winton (if you're lucky.)
> ----------------------------------
> The closure of the Lloyds TSB Bank plc Group Head Office building in
> Lombard Street, City of London presented the Group with a particularly
> interesting challenge. What to do about the Lloyds Bank War Memorial
> which dominated the old entrance hall with it's long list of names of
> employees who had lost their lives during the two World Wars. This
> Memorial had traditionally served as a focal point for the Lloyds TSB
> Group collective commemoration on the 11th of November each year.
> ...
> One particularly poignant aspect of the WWI memorial is that 28 of the
> listed names were killed whilst serving with the 26th Royal Fusiliers
> (Bankers Battalion). Hundreds of young men from Lloyds Bank
> volunteered for service and joined this 1,500 strong unit which
> consisted entirely of bank employees. Twelve of the Lloyds contingent
> were killed on the first day that the 26th Bn went into action on the
> Somme at Flers in September 1916 (the first time tanks were used in
> battle).
> ----------------------------------
> Charles Hill's reminiscences
> Arthur was working in Dulwich as a carpenter and joiner; Richard was a
> billiard table maker and I was a junior clerk and office boy firstly
> with a firm of solicitors but afterwards in the same capacity with the
> Corporation of London. Arthur and Richard were both experts at their
> jobs and earned top money for those days (5 per week). I, at the
> first job received ten shillings per week [50p] and transferred to the
> Corporation at fifteen shillings [75p] per week.
> On Bank Holiday 4th August 1914 war was declared by our government and
> in due course conscription was mooted.
> I thought I would rather pick my destination and went to the
> Recruiting Station in the neighbourhood of St Paul's Cathedral.. There
> were then two recruiting sergeants (they were done away with when
> compulsory service was brought in.). One sergeant was recruiting for
> the Stock Exchange Battalion of the Royal Fusiliers, the other for the
> Bankers Battalion of the same regiment. I chose the Stock Exchange
> Battalion but, when I went into the Recruiting Office, I was told
> that, as they had got into trouble for taking what we used to call the
> 'typewriting boys' (the lads who, with brush and tray ran under the
> horses' tails and picked up their leavings so as to keep the roads
> clear), they wanted permission from the Comptroller to accept me. This
> amused neither the Comptroller nor myself.
> Anyway, fending off a try by the Bankers to poach me, the Stock
> Exchange passed me into the doctors. Eye tests were not too good but,
> after being nearly on top of the test card before I could get down the
> rows of letters, I was told "you'll do to stop a bullet" and I went on
> to join for "three years or the duration of the war". Having complied
> with all the necessary conditions, I was given 2s/9d (nearly 14p)
> being 1/- (5p) for a day's pay and 1s/9d (nearly 9p) for a day's
> lodging and rations, a rail ticket for Leamington Spa and a paper
> ordering me to attend there the next day. Although I did not know it,
> there was a "slip coach" which was drawn by an engine and carriages
> which went further on. This was released just short of Leamington and
> coasted in to be picked up by a "light" engine.
> ----------------------------------
> "BANKERS IN KHAKI The Lord Mayor takes the salute of the 26th
> (Service) Battalion known as the Bankers Battalion on their march
> through the city". Bankers Battalion marching through wet streets of
> the City led by a military band. The Lord Mayor of London, Sir Charles
> Wakefield, and army officers on the steps of St Paul's Cathedral.
> ----------------------------------
> Review: [Untitled]
> Reviewed Work(s):
> Lloyds Bank, 1918-1969 by J. R. Winton
> Author(s) of Review: Larry Schweikart
> The Public Historian, Vol. 6, No. 4 (Autumn, 1984), pp. 116-117
> This article consists of 2 page(s).
> ----------------------------------
> The pay rates mentioned by Charles Hill:
> 5 per week = 260 per annum
> 10s per week = 26 per annum
> 15s per week = 39 per annum
> 1s per day = 18 5s per annum
> For Eliot's WWI salaries see Ackroyd's TSE biography pp. 67, 68, 77:
> 1915 Interest on 3,000 worth of debentures from Russell (interest rate?)
> 1915 High Wycombe Grammar School: 140 per annum
> 1915 Highgate Junior School: 160 per annum
> 1918 Lloyd's Bank salary: 270 per annum
> 1922 Dial Prize: $2,000 = 400
> Using the calculator at
> to convert TSE's income to its 1914 equivalent:
> 100 in 1915 is equivalent to 1914's 83 9s 5d
> 140 in 1915 is equivalent to 1914's 116 17s 2d
> 160 in 1915 is equivalent to 1914's 133 11s 0d
> 270 in 1918 is equivalent to 1914's 137 0s 1d
> 400 in 1922 is equivalent to 1914's 227 10s 6d
> So, Eliot's salary may have been 3 times that of a small house agent's
> clerk.
> Regards,
> Rick Parker

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