Henry Bloom Noble
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18 June 1816
Henry Bloom Noble | |
|---|---|
 | |
| Born | Henry Bloom Noble 18 June 1816 |
| Died | 2 May 1903 (aged 86) |
| Spouse | Rebecca Thompson (died 1888) |
| Parent(s) | John Noble; Mary Mason (nee Bloom) |
Henry Bloom Noble JP[1] (18 June 1816 – 2 May 1903) was an English Cumbrian-born philanthropist and businessman who at the time of his death was the richest resident of the Isle of Man. Noble bequeathed a large amount of his vast fortune to the people of the Isle of Man, resulting in numerous civic amenities such as recreation grounds, swimming baths, a library and a hospital.[2][3][4]
Early life
Henry Noble was born in the village of Clifton, Westmorland (now part of Cumbria) on 18 June 1816, the first son of John Noble and Mary (née Bloom). It is said that he came from a poor failed farming family, his father finding work as a customs official.[2][3][4]
Business
Wine and spirits
His first connection with Douglas was due to his association with Alexander Spittall, father of James Spittall, a Douglas advocate.[2][3][4] The elder Spittall was a wine and spirits merchant, whose principal place of business was Whitehaven, Cumbria, although he had a branch established in Douglas. Noble was employed by Spittall as a clerk, rising to the position of manager in 1835 following which he moved to Douglas with his mother.[2][3][4] The Nobles took residence in a house belonging to Spittall on the south side of St Barnabas' Square. Noble did not stay in the employ of Spittall for very much longer, but set up in the wine and spirits business on his own behalf; his first shop was on Fleetwood Corner.[2][3][4]
Henry Noble is said to have made his first money whilst still in the employ of Alexander Spittall, by speculating in the shares of the Great Laxey Mine.[2][3][4] He continued his wholesale wine and spirits business and supplemented this by the sale of seeds and other commodities for farmers. He then opened a timber yard at the corner of the Lake under Bank's Hill. In time he transferred his wine and spirits business to premises in St George's St (now occupied by Joseph Bucknall & Sons) and had his saw pits and timber yard in the large area between Hill St and Mytle St, in the area where St Mary's Cathedral now stands: the whole block at that time belonged to Noble.[2][3][4]
Large profits were generated from both these concerns, and this led Noble to invest in shipping.[2][3][4]
Shipping
The first ship he owned was named Jane and Agnes, and the next the Rebecca and Maria, said to have been two of the finest and smartest schooners operating from Douglas.[2][3][4] He used the ships in two ways:
- in connection with his own business and those of other charterers of the Port of Douglas;
- they were also put to work for the Great Laxey Mining Company.[2][3][4]
Isle of Man Steam Packet Company
By the 1880s Henry Noble had also become a major shareholder in the Isle of Man Steam Packet Company,[2][3][4] serving on the board of directors and being appointed chairman. However his vision for the company, which would have seen the introduction of fast screw-driven steamers from the 1880s, was in opposition to the rest of the board who favoured paddle-driven ships.[2] This largely brought about his resignation, however by the turn of the century it was clear that Noble's vision was the way forward.[2] After resigning from the board, Noble did not desert the company altogether, but offered financial assistance to help the company to compete in a price war with the Isle of Man, Liverpool and Manchester Steamship Company. He advanced at short notice a loan of £20,000 (£2,500,000 as of 2018).[5] The security was a mortgage on the company, which was paid off in a short time, following the Isle of Man Steam Packet Company's acquisition of the Isle of Man, Liverpool and Manchester Steamship Company in 1888.[2]
Utility companies
In the 1840s the town of Douglas was beginning to experience an influx of tourists, which led to a boom by the turn of the century. Noble helped the town to development infrastructure to accommodate this.[2][3][4] He invested in the Douglas Gas Light Company and was one of the founders of the Douglas Water Works Company: he was appointed chairman, a post he held until the company was acquired by the Douglas Town Commissioners for the huge figure of £144,000 (equivalent to £18.3 million in 2018).[2][3][4][6]
A certain amount of skulduggery surrounds the transaction of the money.[clarification needed] Henry Noble was one of the founders of the Isle of Man Bank, and at the time of the purchase of the Douglas Water Works Company, the Town Commissioners banked their money with Dumbell's Bank. Noble refused a cheque drawn on Dumbell's Bank, but insisted on cash.[2][3][4] Without the required cash at hand, the Town Treasurer was required to make provision partly in gold, with the balance made up of Bank of England notes.[2][3][4] On the day of the transaction the gold was brought to the offices of the company and weighed, and the notes were counted. All duly accounted for, the receipt was signed by Noble and his co-directors. Had the money not been forthcoming on the specific day, a penalty clause would have been enacted increasing the consideration by £5,000 (£630,000 as of 2018)[5] with a further penalty of £5,000 ten days later, and so on.[2][3][4]
There was quite an outcry from Dumbell's Bank concerning Noble's behaviour, being seen as an unjustifiable attempt to reduce confidence in the bank.[2][3][4] However given what later happened to Dumbell's Bank, it may be seen that Noble was aware of how matters stood at Dumbell's.[2][3][4]
Banking
Isle of Man Bank
Following the passing of the Companies Act 1865 on the Isle of Man, Noble, together with William Moore, Samuel Harris and William Callister founded the Isle of Man Bank that October. Noble served as a director of the bank until he retired as a consequence of his health in the late 1890s.[2]
Property
Noble worked in conjunction with Governor Loch on the construction of Victoria Street, then the main thoroughfare of Douglas.[2][3][4] His astute vision led him to acquire many of the most desirable building plots in the town. He was also one of the proprietors of the Castle Mona Estate, which was sold to a syndicate for £80,000 (£10,100,000 as of 2018).[5] The property was the former Isle of Man residence of the Dukes of Atholl. Before 1850 Queen Victoria proposed buying it as a more suitable royal residence than Osborne House.[2]
In 1868 Noble bought the Villa Marina which at that time was rented by the Isle of Man Government as the residence of the Lieutenant Governor, Francis Pigott. Noble purchased the estate in its entirety from Frances Dutton for the sum of £7,500 (£822,500 as of 2018).[5] It is said many people scoffed at the amount which Noble had paid, scornfully predicting that he would in no way recover the amount he had invested. However the value went up as a result of the increasing affluence of the town, to such a degree that in 1898 Noble refused an offer of £120,000 (£15,200,000 as of 2018).[5] Upon his death the Villa Marina was bequeathed to the town of Douglas.[citation needed]
Noble's last open[clarification needed] property purchase was that of the former residence of Colonel Shum for the sum of £5,400, on land where today the Sefton Hotel and the Gaiety Theatre stand. The local Hospital Committee had earmarked the land for a hospital site, but Noble, as the chief owner of property in the proximity, thwarted this attempt. In less than five years Noble had sold the site for £15,000 the site undergoing development.[citation needed]
