A beautiful bank

LOVERS OF ARCHITECTURE will find much to enjoy amongst the buildings that fill the historic centre of the university city of Cambridge. Amongst the sea of old colleges, which are rich in fine architectural features, there are some attractive buildings whose existence are not solely due to the requirements of academia. One of these stands at the southern end of Sidney Street. Formerly Foster’s Bank, this picturesque edifice faced with alternating stripes of red and white and topped with a highly decorative clock tower, now houses a branch of Lloyd’s Bank.

Ebenezer Foster (1776-1851) and his brother Richard, both born in Cambridge, founded their bank in 1804. The bank was originally founded for the workers at the three mills that the Fosters owned (www.findagrave.com/memorial/181142444/ebenezer-foster). Because the university would not allow the Fosters to build railway lines to their mills, they constructed another mill close to the existing railway lines. This mill is now called Spillers Mill. The Foster family lived at Anstey Hall in Trumpington (near Cambridge) from 1838 to 1941. Ebenezer died in Trumpington. Ebenezer was Mayor of Cambridge in 1836, and later a county magistrate, then the High Sheriff in 1849. In addition to other public positions, he was a governor of Addenbrooke’s Hospital. Ebenezer’s obituary in “Cambridge Independent Pres” on Saturday the 31st of May 1851 noted:

“Mr. Foster was at the head of the first banking and mercantile establishments in the town. It is unnecessary, therefore, to say that his life was one of great activity and usefulness; and it is not too much to say that in every occupation, whether public or private, his conduct commanded universal respect.”

Before 1891, Fosters Bank was housed on Trinity Street in what was once the Turk’s Head:

“The rather attractive Tudor shop on Trinity Street now occupied by a clothes shop was once the Turk’s Head Coffee House, one of the earliest coffee houses in the country (17th century). It was much frequented by students. The upper floors later became the Turk’s Head Carvery, but it is now entirely given over to floral prints. The building was once the home of Fosters’ Bank, which later moved …” (www.cl.cam.ac.uk/~ckh11/cam.html).

Years ago, in the late 1960s, four of us, three friends and myself, ate a meal at the Turks Head. The bill for the four of us came to 14/6 (72.5pence) and we gave the waiter 15/- (15 shillings: 75 pence). My friends were horrified when I told the waiter:

“Keep the change.”

For, even in those far-off days, sixpence (2.5 pence) was a rather mean tip for a bill of 14/6.

In 1891, the bank building at the south end of Sidney Street, once Foster’s now Lloyd’s, was completed. It was designed by the architects A and P Waterhouse. Alfred Waterhouse (1830-1905) was the eldest of eight children. One of his siblings, Edwin Waterhouse (1841–1917), was one of the founders of the accountancy company Price Waterhouse (now incorporated into PWC). Alfred’s son Paul (1861-1924) joined his father’s architectural practice in 1884, becoming a partner in 1891, the year that the Foster’s Bank building was put up in Sidney Street.

Alfred Waterhouse and his practice were responsible for the design of many impressive buildings in the Victorian era. One of them, which is very well-known, is London’s Natural History Museum. Slightly less famous but equally impressive is the Prudential Assurance Building in London’s Holborn. This building is opposite numbers 337 and 338 High Holborn, which survived the Great Fire of London of 1666, and were restored by Waterhouse.   Apart from the bank in Cambridge and the Cambridge Union building, he also designed buildings associated with the following colleges: Jesus, Gonville and Caius, Pembroke, Girton, and Trinity Hall.  The bank in Cambridge is one of seven designed by Alfred Waterhouse.

I have entered the former Foster’s Bank only once. The glass-ceilinged banking hall is a riot of colour, its surfaces covered by tiles with sculpted surfaces. The octagonal clock tower is topped with a sharply pointed octagonal roof, one of the city’s many spires. The clock faces with their Roman numerals are made with tiling in several colours. Although now a branch of Lloyds, the name Foster can still be seen clearly above the main doorway.

When you next visit Cambridge, by all means admire Kings College Chapel and other architectural gems within the various colleges, but do spare some time to enjoy the former Foster’s Bank building on Sidney Street before visiting the nearby marketplace, which I always enjoy.

Would you trust them with your money?

Back in the early 1970s, I had dinner at a cheap and cheerful Chinese restaurant (Lido, which still exists in Gerrard Street) with about 7 friends. 5 of them were studying to be chartered accountants, I was completing my PhD thesis, and ‘J’ had only the most basic of educational qualifications.

The bill arrived. It was £24 for all that we had eaten. That seemed about right. The bill, consisting of three pages stapled together, was examined by all of us.

When J looked at it, she said it was twice what it should have been. This was because the waiter had added the sub totals at the bottom of each page to the individual prices which added together were equal to the sub totals.

We ended up sharing a corrected bill of £12.

What concerned me was that 5 people who were about to become chartered accountants missed the error in the bill which they had perused. Would you have trusted them with your money?

Incidentally, J went on to become a very successful business woman, probably more prosperous than anyone else sitting around that table in Lido.