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C. Hoare and Co., a British banking dynasty in business for more than 300 years

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Re: C. Hoare and Co., a British banking dynasty in business for more than 300 years

#81

I remember in my shop assistant days getting cheques from customers who banked with them. It felt like the punchline of an elaborate joke. At the time I was selling bikes. The kids from the council estate would have their parents or grandparents save up all year in a special book, paying by instalments. Then, at Christmas time, they would get a Raleigh bike, not quite the cheapest but certainly not the most expensive…

This reminds me a story a friend of mine told me. When he was a kid he had a job delivering the local free news paper around his local town in the UK. This was at a time when local free news papers were still a thing. At Christmas time he had a plan, he knock on the doors of houses on his round and explain that he was their local paper delivery boy and ask for tips. He did this first on the part of his route with gat…

I did newspapers too. The Christmas tips were a goldmine, I did the paid for papers so there was always a weekly exchange of money.

I had to call my mum out to help me carry the vast amount of loot - if only I had that money now!

I think that the free newspapers were not welcome by all. Whereas if you are delivering someone their Daily Telegraph or Times then you are of value to them. So I received good tips from all classes of people, although there were the old folk that thought that a 5p tip on a weekly basis was generous. They might stretch to £1 at Christmas time.

The other benefit of this network - I had something like 100 customers in the rural shires - was school sponsored walks. I just had to ask the customer base to sponsor me and I would raise ten times the amount of anyone else.

But with it came an important life lesson...

I was never able to get all of the four figure sum in on time. People would be on holiday, they would move, they would die or just somehow not be around for me to ask them for the money they pledged.

Hence I would be at least £50 - £100 short. I didn't want to pay that out of my own pocket but the school was strict about the rules. They couldn't have any kids pocketing the money, which is fair enough.

So I never received the prize money for raising the most money. Someone else would get to the stage in school assembly to get the £10(!) book token and the kudos that went with it.

My teachers and my friends knew I had raised vastly more than whomever got to the stage, typically they would have large sums donated by relatives, not hundreds of small sums pledged by everyone in two villages.

I learned from that more than I would have done had I been up on the stage collecting the prize. We don't do charity for fame and prizes. The recognition comes in other ways.

Other ways?

Well, apart from the good causes aspect, I was part of the community. I had a support network that I would not have had if I was not delivering the papers. I also got actual respect from my teachers, so years later I was able to do work placement things for the teacher that had put me through the wringer for being tardy paying in the vast sums pledged to 'Save the Children'. Also, in my adult life I think I understand 'personal philanthropy' (not charity) better than most.

Re: C. Hoare and Co., a British banking dynasty in business for more than 300 years

#82

Earlier quoted context omitted.

I'm born and raised in the US by a single American mother - but my dad was a real Scotsman, sometimes I see my aunt on his side and she always says "you might not have an accent, but I know yer Scottish because yer tight (cheap) and all Scots are tight"

https://en.wikipedia.org/wiki/No_true_Scotsman

Irrelevant.

Re: C. Hoare and Co., a British banking dynasty in business for more than 300 years

#85
post #73

I'm a customer of Hoare's. AMA.

Do you still get the leather chequebook cover like a purse my mother had when she banked there? Is there still a commissionaire with a top hat at the door?

I didn't get a chequebook so I don't know but they did give me a nice leather wallet for my cash and cards.

They still have a doorman but I don't think he wears a top hat.

Re: C. Hoare and Co., a British banking dynasty in business for more than 300 years

#86
post #29
post #15

I wonder if legendary computer scientist Tony Hoare (C. A. R. Hoare) was part of the family, especially given his three given names.

He appears to be a distant relative, yes, but by my count, five generations removed from any direct connection to the banking business. Starting with his entry [1] on thepeerage.com, a UK genealogical site for the upper classes, you can backtrack to find that his great-great grandfather was a Charles James Hoare [2], who appears, if this Wikipedia entry is the same person [3], to have been a a Church of England clerg…

Thanks for the spadework!

Re: C. Hoare and Co., a British banking dynasty in business for more than 300 years

#87

The article keeps saying their advantage is their ability to "find solutions other banks can't". I don't know what that means. Exotic loan terms? Collateralizing difficult-to-value assets?

So banking is a complex mess of years and years of regulation that seem to change when the government does or there is an event. An example for me personally was trying to buy a house after the crash. (This bit is simplified vs the details of rules). They changed the loan laws to put incoming as the key limit on what you could write a loan against. I had made a nice chuck of money on my last startup and was very luck…

That's a super cool anecdote, thanks for sharing! Feels like meeting the needs of each customer in finance can be like writing bespoke code for each! Using:

- existing 'data structures' like "loans"

- 'infrastructure' such as "positioning that allows carrying the paper"

... and so forth =)

Re: C. Hoare and Co., a British banking dynasty in business for more than 300 years

#88
post #86
post #29

Earlier quoted context omitted.

He appears to be a distant relative, yes, but by my count, five generations removed from any direct connection to the banking business. Starting with his entry [1] on thepeerage.com, a UK genealogical site for the upper classes, you can backtrack to find that his great-great grandfather was a Charles James Hoare [2], who appears, if this Wikipedia entry is the same person [3], to have been a a Church of England clerg…

Thanks for the spadework!

No problem; your question made me curious. Too late to edit, but I wrote it up on my blog for posterity: http://www.kmjn.org/notes/car_hoare_bank.html

Re: C. Hoare and Co., a British banking dynasty in business for more than 300 years

#89

So that front page article title mentioning "Rothschild" has been removed now?

Yes, we replaced the baity title with the less baity subtitle. Standard moderation move here.

https://news.ycombinator.com/newsguidelines.html

https://hn.algolia.com/?sort=byDate&dateRange=all&type=comme...

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