Banks and the finance of industry

Banks and the finance of industry

Lucy Newton completed her thesis on the finance of industry in Sheffield after the introduction of limited liability in 1855. In addition to raising external funding through the selling of shares, Sheffield companies both large and small turned to the towns banking institutions.

Her doctoral research has led to a continued interest in the provision of finance by banks to industry and the impact that this had on regional and national economies. The work has moved forward into the twentieth century to consider the changing nature of financial provision by banks following the amalgamation movement in Britain which started in the 1880s and culminated in 1918 with the remained 'Big Five' clearing banks.

Themes

Relationships between banks and their industrial customers, especially the nature of trust built between banks and customers, has been an important theme of this work. Research with Victoria Barnes and Phillip Cottrell has also been undertaken on the structure of nineteenth century retail banks, in particular their propensity to branch and how this served their customers in offering lending services through branching.  Another theme is the impact upon regional and national economies of the propensities of banks to lend to industry. In the twentieth century, intervention by governments to involve banks in promoting economic recover and/or provision of finance to small-scale enterprises has been an issue considered with Professor Peter Scott

Outputs

Victoria Branes and Lucy Newton (2017) Formalising credit markets? The entrance of English joint-stock banks. In: Coffman, D.'M., Lorandin, C. and Lorenzini, M. (eds.) Financing in Europe. The evolution, coexistence, and complementarity of credit typologies from the Middle ages to the 19th century. Palgrave Studies in the History of Finance. Palgrave Macmillan, Basingstoke. (In Press)

Victioria Branes and Lucy Newton, (2017) How far does the apple fall from the tree? The size of English bank branch networks in the nineteenth century. Business History. ISSN 1743-7938 doi: 10.1080/00076791.2017.1323883

Lucy Newton (2010) The birth of joint-stock banking: a comparison of England and New England in the nineteenth century. Business History Review, 84 (1). pp. 27-52. ISSN 2044-768X

Lucy Newton (2009) British retail banking in the twentieth century: decline and renaissance in industrial lending.In: Coopey, R. and Lyth, P. (eds.) Business in Britain in the twentieth century: decline and renaissance? Oxford University Press, Oxford, pp. 189-206. ISBN 9780199226009 doi: 10.1093/acprof:oso/9780199226009.003.0011

Peter Scott and Lucy Newton (2007) Jealous monopolists? British banks and responses to the Macmillan gap during the 1930s. Enterprise & Society, 8 (4). pp. 881-919. ISSN 1467-2235 doi: 10.1093/es/khm104

Lucy Newton (2003) Government, the banks and indusrty in interwar Britian. In: Gourvish, T. (ed.) Business and politics in Europe, 1900–1970: essays in honour of Alice Teichova. Cambridge University Press, Cambridge, pp. 145-170. ISBN 9780521823449

Lucy Newton (2003) Capital networks in the Sheffield region, 1850-1885. In: Wilson, J.F. and Popp, A. (eds.) Industrial clusters and regional business networks in England, 1750-1970. Ashgate, Aldershot, pp. 130-154. ISBN 9780754607618

Lucy Newton (2000) Trust and virtue in banking: the assessment of borrowers by bank managements at the turn of the twentieth century. Financial History Review, 7 (2). pp. 177-199. doi: 10.1017/S096856500000010X

Lucy Newton and P. L. Cottrelll (1998) 'Banking in the English provinces, 1826-1857: to branch or not to branch?' Business and Economic History, Nov. 1998 (with P. L. Cottrell).