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Premier Building Association and Deposit Bank, Collins Street, Melbourne

16 July 1887

Record details

Title:

Date of work:

16 July 1887

Reference number:

MELB 000002

Level of description:

Item from Collection: Heritage Collection (HC)

Type of materials:

Graphic materials

Part of:

Sub-collection: Melbourne (HC_MELB)

Access restrictions:

UnrestrictedOpen access.

Use restrictions:

Refer to individual item records for Use Restrictions.Please contact City of Melbourne Libraries about obtaining permission to reproduce images. High resolution files may be available on request. Users must acknowledge City of Melbourne Libraries when reproducing images.

General notes:

The Telegraph, St Kilda, Prahran and South Yarra Guardian (Vic. : 1866 - 1888) Saturday 16 July 1887 page 6.THE PREMIER PERIMANENT BUILDING ASSOCIATION. The, removal of the above-mentioned society to its new and handsome premises' in Collins-street east, affords us a: opportunity of noticing the growth and progress of one of the most popular financial enter prises ever started in the City. The society, under the management of Mr James Mirams, commenced operations in 1874 on a very unpretending scale and its growth in the early part of its existence was slow. Still, solid progress was made, and after several years it was found necessary, owing to the augmentation of business, to move into more .commodious premises. Here the volume of business so increased as to necessitate the acquirement of still larger and more convenient premises. Hence the directors resolved upon purchasing the site in Collins-street east now occupied, and erected thereon a substantial edifice sufficient to answer the requirements of the society for at least a century, besides being a conspicuous and permanent ornament to the most fashionable of the City thorough fares. On the 14th ult. the association took possession of its new and commodious quarters, to the interior of which the finishing touches of the painter, joiner, and French polisher had not then been given. Mr C. D'Ebro was the architect and Messrs Thomas Dalley and Sons the con tractors. As will.be seen by the illustration which is given, the front of the building is one of superb beauty, designed in the French Renaissance style of architecture, and built of freestone from the quarries of the Grampian Mountains, near Stawell, and known as Stawell stone. The building consists in all of five stories, the loftiest being surmounted by a mansard roof, finished with skilfully contrived iron cresting and other elaborate ornamentation. The facade rises to a height of 88ft. from pavement to parapet, and at that elevation towers above all its .neighbours. From the pavement to the first floor the beauty 'of the facade is enhanced by polished grey granite pilasters, while the windows have red polished granite columns. The central entrance bay forms of itself a striking feature. The ground floor is devoted principally to the use of the Premier Permanent Building Association, and is beautifully fitted up with all the latest designs. It should be mentioned that, true to his protectionist principles, Mr Mirams has throughout the entire building consistently and exclusively employed colonial workmanship and colonial material. The furniture throughout the various occupied chambers is of exquisite workmanship and design. The counters and screens in the savings bank chamber are especially noticeable, the panels consisting of polished cedar, huon pine; and blackwood. The furniture in the board room is also of a handsome and elaborate character, and entirely of colonial manufacture. The operations of the Society have been of a most satisfactory kind. In 1874 it enjoyed a patronage from which an income of something under £10,000 was derived. The confidence of the public was so far gained during the first decade of its existence, that in 1888 the income had risen to £54,894. In the following year, 1884, the income reached £86,305. Then came the era of returning prosperity to this country, and the consequent steady rise in the value of-City and suburban properties. The result of this was that the income for 1885 rose to the enormous sum of £200,106. Figures like those attest alike the. ability with which the affairs of the society were managed, and the increased estimation in which the institution was held. In 1886, however, a more convincing proof of public favour and appreciation was manifested in the fact that the income for that year reached the astounding total of £451,085. During the six months ending 30th March last the income was £808,000, or at the rate of £620,000 per annum. As illustrating the present position of the society's finances, the subscribed capital now stands at £420,000, the paid-up capital at £170,000,

Topics:

Banks

Places:

Melbourne (Vic.)

Record types:

Images, maps and artefacts

Record number:

1253817

Bookmark link:

https://librarysearch.melbourne.vic.gov.au/cgi-bin/spydus.exe/ENQ/OPAC/ARCENQ?SETLVL=&RNI=1253817