IRREGULARITIES

[ Sir John Gordon Nairne, Chief Cashier of the Bank of England. ] Two Typed Letters Signed ('J. G. Nairne'), one to the wife and the other to the daughter ('Mrs. Magraw') of his disgraced predecessor Frank May, to whom he refers poignantly.

Author: 
Sir John Gordon Nairne, 1st Baronet [ J. G. Nairne ] (1861-1945), Chief Cashier of the Bank of England, 1902-1918 [ Beatrice Irene Magraw, daughter of Frank May (1832-1897), disgraced Chief Cashier ]
Publication details: 
The first on letterhead of Bank of England; 9 June 1917. The second on letterhead of Furlongs, Tring, Hertfordshire; 28 August 1935.
£150.00

Two items with a poignant subtext. In 1893 Nairne's predecessor as Cashier Frank May had 'suddenly resigned', as the New York Times reported on his death (10 February 1897), 'after a mysterious meeting of the Board of Directors, and for several days exciting rumours circulated in London that something was wrong with the finances. The real facts came out slowly, and they showed that May had induced the officers of the bank to lend money on doubtful securities, the collapse of which caused a loss to the institution of about £50,000'. Both items in fair condition, lightly aged and worn.

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