Skibbereen Meeting re Failure of Munster Bank

From  Should the Munster Bank have been saved?  Cormac Ó Gráda, University College Dublin  WP01/ 15July 2001

In the century and a half since Sir Robert Peel s Bank Act of 1845 only two major Irish banks have failed.  The Tipperary Bank, which folded in February 1856, was one of the swindles perpetrated by John Sadleir M.P.   Less drastic in terms of losses to shareholders but more interesting as banking history is the collapse of the much bigger Munster Bank inJuly 1885.  Though the problems which led to its demise were largely self-inflicted, several observers felt at the time that it could, or should, have been rescued.  Some even accusedIreland s then quasi-central bank, the Bank of Ireland, of allowing it to sink.  Was this an example of the Bank of Ireland failing to discharge its unofficial responsibility as the Irish Banking system’s lender of last resort (LLR)?  Or was it a case of the Old Lady of College Green acting so as to minimise the moral hazard inherent in that function


Convened public meeting in Skibbereen re failure of Munster Bank in 1885

Of those mention attending the meeting


Richard Carey, (1838-, Skibbereen, 188?,  son of Rev. Richard, Tipperary, ed Fermoy College, Manager Munster and Leinster Bank.  m Katherine d William Hill Cork 8 children.   Present at the opening of Skibbereen Railway, July, 1877.  1909 Funeral Dr. William Jennings, Doctor and  Magistrate, Skibbereen. Listed North Main St., Youghal, 1916

Dr. John Samuel Levis, TCD,  M.D., 1865, (1822-1902), Glenview, Skibbereen, Resident, £182.  Son of Samuel, Baronial Constable and major land holder.  Adjudicating Magistrate Skibbereen and Drimoleague Districts. Ex-Officio member Skibbereen Board of Guardians. Regarded as a tolerant Landlord well respected. Levis family pre 1800 usually described as Lavers of Huguenot origin.  Sitting Drimloleague 1866.1885 chairing presentment session West Division, West Riding.  1893, attending funeral of Michael Sheehy, T. C., P.L.G., Skibbereen. 1901 two servants. Probate 1903 to Bruce Levis, £2,472.

Thomas Downes, Solicitor, North St. “Born son Thomas Mitchelstown, Castleknock College, Gold Medalist, partner with McCarthy Downing MP 1870, land agent to Wrixon-Beecher, Local bodies and railways.  Subscriber (3 copies) Dr. Daniel Donovan ‘History of Carbery, 1876. Probably advanced money in 1888 and secured a mortgage to Whites (Lord Bantry).  Paddy O’Keeffe   1894 assistant John James Carmody.  1876 Andrew Collins. Attending  1893, Rev. Charles Davis, Parish Priest, Baltimore aged 63, Founder of Baltimore Fishery School. ” “1871 funeral Skibbereen, Timothy McCarthy Downing, solicitor, MP, landlord.   Married 1876, Teresa d late Charles O’Connell, RM, Bantry, and first Catholic MP for Kerry whose wife was the 2nd daughter of Daniel O’Connell.   subscriber Zenith Marine Disaster, Baltimore, 1895.  1877.   Opening  Skibbereen Railway

T. Downes  J. E. Marshall  Prominent in Carbery Agricultural Show.  Sent a carriage to the funeral of Lieutenant-Colonel Thomas Somerville D.L. (1824-1898), Clontaff, Drishane. Died 1904, probate to widow Theresa and Daniel O’Connell Esq Agent Bank of Ireland Effects £10,676 5s 6d…..