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Inauguration of No 2 Department - 1957

The Finance Act, 1956, introduced an Income Tax concession relating to the interest received on certain savings accounts. The story of how the Birmingham Municipal Bank obtained this concession by the creation of a new savings department is detailed at Introduction of the No 2 Department.


The new department (see Account Types) was inaugurated on April 1st 1957, and the photographs below record events relating to the introduction of the Bank's first new savings product in 38 years.

 

In the first photograph, the Lord Mayor opens an account in the No 2 Department on April 1st 1957. He is watched by the Bank's General Manager, H J Sutherland (left); Deputy General Manager, F W Parsonage (background); the Bank's Chairman (I L Morgan); and J W Raftery, Head Office Superintendent (right). In the second photograph, the Lord Mayor receives his new passbook from the Chairman.


 

The third photograph was taken in the Broad Street Assembly Room on Thursday, April 4th 1957, when a Commemoration Dinner was held as part of the inauguration celebrations.

 

On the table nearest the camera,

three Branch Managers are identifiable

on the nearer side of the table:

Dan Crowley (first seat);

Geoff Thomas (second seat); and

Charles Harper (fourth seat).

On the second table,

three Head Office senior staff sit facing the camera:

Frank Whitehouse (first seat);

Jack Raftery (third seat);

Fred Parsonage (fifth seat).
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