October 17th – The air has turned much cooler, and it has rained very much today. October 18th – An uncommon wet day and very cold. October 20th – Last night the wind high. A deal of snow and rain fell towards morning. It was extremely cold, with the wind at north. October 21st and 22nd were extremely cold. October 19th – Was the sale of the late James Clough’s property, top of Royton-street, opposite the Trap Inn or Joiners’ Arms, when those three houses were sold to Mr. Jonathan Mellor, who purchased them for Mr. Joseph Rowland, of Orleans Mill, for £550, and those three houses at Lowermoor, called Clough Fold, when two houses were purchased by Mr. John Scholes for £290. Mr. Scholes lives at Greenacres Moor. October 19th – Ralph Woolfenden, his daughter, and his housekeeper, were apprehended on a charge of murder. The daughter was charged with being the mother, and Woolfenden with being the father of his daughter’s child. They were examined by the coroner and jury this day at Oldham, but the proofs not being sufficient, they were dismissed. October 15th – Two men, of the name of Law, natives of Lees, near Oldham, were apprehended at the Colliers Arms, Cross, circulating forged £1 notes of the Saddleworth Bank. They were on the 25th committed to Lancaster for trial by Mr. Lees of Clarksfield. October 28th – Died at Chadderton Workhouse, Thomas Buckley, son of the late Thomas Buckley, of Burnley-lane, age 27 years. October 30th – Died at Highgate, near Royton, John Hilton, son of the late John Hilton, of Further Wood, disorder, rheumatism. On the 28th of October, Elizabeth Taylor, a fine girl of 12 years, was unfortunately killed in the factory at Lees Hall. On the same day, died, far advanced in years, the wife of Joseph Sharp, shopkeeper, Angel-street, Oldham. November 2nd – Last night a very large building, wherein the printing business was carried on of Mr. Burton, which was situated at Middleton, was, with all the machinery and all the printing utensils, and all the goods that were in this extensive building, were consumed to ashes. October 24th – The sessions commenced at Manchester, when Kershaw, and Halkyard were acquited. November 5th – Thomas Heywood, committed to the New Bailey for trial on a charge of stealing a leg of mutton from Samuel Redfern, butcher, Oldham. |
John Bradley, of Damhead, near Busk, late from Stockport, fell into a cellar hole, near Dan Lees’ factory, Oldham, last night, and was killed on the spot. November 8th – Last night Mr. James Scholes, of Tetlow-fold, near Cheetham Hill, who married Miss Walker, of Burnley-lane, fell into a cellar hole in his own house, and was killed on the spot. November 10th – Died at Oldham, Sarah Chadderton, a dealer in old cloathes, her age about 70 years. November 12th – An unfortunate Derbyshire man, a collier, lost his life in a coal pit at Greenacres Moor. November 18th – Died, at Oldham, Rebecca, wife of Rodger Wrigley, tailor, of that place. November 19th – Died at Highlands, near Royley, James Bolden, of that place. November 25th – Was found drowned in a pit near his father’s house, James, son of Mr. Woolfenden, of Bowderhead-lane, near Edge-lane, He had been missing for about a day. He was a little deranged in his mind and is supposed to have been done in a fit of insanity. His age 20 years. November 29th – Died at Oldham, John Nield, formerly a sawyer, and lastly a carter. His age 73 years. This month has been extreemly wet, and the sun in general has been obscured from our view. It is very unpleasant. The roads are extreem dirty, and a continued mist or dampness hangs in the air. December 10th – Last night the factory of Mr. Cussons, of Oldham, was discovered to be on fire, but by the great exertions of the neighbours the fire was speedily subdued. December 14th – The weather still continues very wet, and the roads are extreem dirty. December 14th – This day was interred at Oldham, Leah, daughter of James Mellor, of Jenkin Hall, Chadderton, and just at the departure for the funeral, Mally, his wife expired.; and he has a son who now lies dangerously ill; their disorder, a typhus fever. James Mellor, of Jenkin Hall, is the person who is so eminent in inventing silk patterns. December 17th – Last night some villains broke into the house of Edmund Clegg, in Burnley-lane, and stole between 20s. and 30s. worth of copper coin, besides a quantity of silk and cotton handkerchiefs, and other articles, with which they made off, and left no trace behind. December 22nd – Last night, died at Holden Fold, Joseph Holden and Judith his wife. They died within less than an hour of each other; her age, 22 years; disorder, childbirth; his age, 25 years; disorder, a typhus fever. |
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ANNALS OF OLDHAM No. CVI 1825 This miserable year is near concluded. Weaving still continues the most wretched, and other trades are feeling the miserable effects of the times. Nearly all the country banks have stopped payment, which has caused the utmost consternation and alarm. The two Saddleworth banks, fortunately for this neighbourhood, maintain their ground, but in the Manchester Guardian there is a list of the following which have stopped payment:- Ashburton 1, Bath 2, Banbury 1, Bedford 1, Bradford 1, Birmingham 1, Bristol 1, Brighton 2, Cambridge 1, Chelmsford 2, Cheltenham 2, Devenport 1, Dorchester 1, Dorking 1, Diss 1, Gravesend 1, Gloucester 1, Hereford 1, Hinchley 2, Huddersfield 1, Kettering 1, Kingsbridge 1, Kingston 1, Leicester 1, Lewes 1, Maidstone 1, Nantwich 1, Newcastle-under-Lyme 1, Northampton 1, Norwich 1, Peterborough 1, Plymouth 1, Romford 1, Saffron Walden 1, Southampton 1, Saint Neots 1, Wellenborough 1, Wakefield 1, Weymouth 1, Wisbeach 1, Whitehaven 1, York 1. The above appeared on the 24th, and on the 31st there was a further list, viz., Chelsea 1, Deal 1, Falmouth 1, Frome 1, Melksham 1, Monmouth 1, Poole and Winbourne 1, Sheerness 1, Stockton 1, Swansea 1, Monmouth and Breckon 1, Boston 1. In consequence of the above failures the utmost distress and misery is felt all over the kingdom, and where it will end time alone can determine. The run on the Saddleworth banks had commenced. Prentice, who was a regular visitor at Oldham, informs us that in December 1825, the road from Oldham to Dobcross was a scene of complete hurry and bustle. Tradesmen and manufacturers were seen hasting on their way to exchange the paper of the Saddleworth banks for gold. On Wednesday, December 14th, bills were distributed to which were attached the signatures of upwards of 200 individuals or firms stating that ‘the undersigned feeling satisfied as to the responsibility of the two respectable banking houses of Buckley, Roberts, & Co., and Harrop, Brown and Co. of Saddleworth, and foreseeing the ruinous consequences to trade which must be produced by suddenly withdrawing from circulation the provincial promissory notes, do hereby express our determination to take their notes as usual to any amount.” |
This publication restored confidence in the stability of the Saddleworth banks, although from Manchester there was a continued demand upon them for gold in exchange for their paper, influenced by some resentment that after former efforts to get rid of their notes there should still be so many in circulation. Floating manias have by no means been confined to Oldham, or to a few years intervening between 1870 and 1880. In 1823 there were but 156 joint-stock companies in England, while in 1825 the number had been increased to 532, with a nominal capital of nearly 450 millions sterling. Of course the liability was unlimited. People seem to have got steam on the brain. There were companies formed for all manner of absurd things at that time (at least what were considered absurd), though they are not considered absurd now. A crisis came at last in the stoppage of the bank of Sir Peter Pole and Co. on the 12th December. This bank is said to have caused the stoppage of 44 other banks, whose accounts were kept by it. Fears were even entertained of the Bank of England. The perilous times of 1825 tried up in a manner which they can only describe who went through them. The struggling firms who at that time, or a little previously, had begun to extend their mills to meet the growing wants of the age. Among these struggling concerns was a cotton spinner who had recently built a fine new mill. People went by his mill and shook their heads at its dimensions. It was supposed to be too large, and a fellow cotton spinner, whom I knew, went purposely to view the mill when it was finished, as it was the talk of the town, and it was quietly whispered that this cotton spinner was getting hard up; indeed he had been told of it at a certain public-house he attended. Moreover, Oldham banks were losing their credit, and it was said of this gentleman, who was supposed to be fast to one of the banks, as was said of the Merchant of Venice – “He cannot miss but break.” When the fellow cotton spinner had returned home from viewing the mill he remarked to his wife “I’d rayther be I’ my shoon nor his who’s built yon factory.” “What’s wrong.” said the wife. “If I mistake not,” said the fellow cotton spinner, “that chap’s a ruined mon.” But the much tried cotton spinner tided over all his difficulties – although he confessed that at one time he did not know which way fortune would turn with him. Speaking with some of his friends of this period, in retrospect, he explained to them what had been the secret of his success. The banks had then not earned that reputation for reliability, which now makes people say “as safe as a bank.” Mr. ------------------ had forecasted these troubles and had provided for the crisis. |
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