HN10/355/Browning2

Letter from C. Mood, manager of the Capital & Counties Bank Limited, Luton Branch to Howard Spensley of Westoning Manor, Ampthill (Reply to HN10/355/Browning1)… 'Referring to your letter of the 16th instant, Mr. H.F. Browning and his father trading as Browning & Son have banked with us for upwards of ten years. They have conducted their account satisfactory within that time and have always met their engagements. We believe them to be very trustworthy and hard working people. We have had sufficient confidence in them to grant them unsecured accommodation to the extent of £200 and we are perfectly willing to continue this. We however agree with Mr. Browning that the accommodation is not sufficient for them to stock their farm properly, at present it means selling stock, sometimes at a loss in order to provide for rent day. This forced selling impoverishes the farm. The stock if kept would grow into money and could be disposed of, were debtors not compelled to sacrifice it at more profitable prices as markets are favourable. The Bank considering Debtors means at some £1500, as per last balance sheet, do not feel justified in granting them further unsecured accommodation. They are prepared to grant them a limit of £400 against a satisfactory guarantee of £200 by responsible parties. The guarantee would have to be a joint and several one for £200. The [?] party to the guarantee is Mr. and Mrs. Browning of Belvedere whose bankers consider 'good for the amount but would have to realise property to find the money'. Should you be willing to undertake this obligation for Messrs. Browning & Son, and as a matter of form, will you please let me know the name of your bankers. Messrs. Browning & Son have authorised me to give you the fullest information in strictest confidence'.

17 Feb 1911

From: 1911 To: 1911

item

Mood, C.,
Capital & Counties Bank Limited,
Spensley, Howard,
Browning, H.F.,
Browning