Darren Burgess, President, Numismatic Association of Victoria writes:

The business was run under the name of William Bateman, Junior and Co., although William Senior was also active in the business. Bateman and Co. operated from their premises in Banyan Street with stores at the jetty. Their business was located in Banyan Street, and they carried a wide range of goods, including hardware, drapery, machinery and groceries. 'They also had a large portfolio of crop financing and other loan advances.' (Turnbull, 1992, p.35)

The business was prosperous, and by 1855 it was one of the leading businesses in the district. William Junior Invested almost the entire profits of the business in land speculation, which was rife in the Western District at that time, and ran the business on credit from the banks. According to Turnbull at the end of 1854 'the company's overdraft was £84,200. The following year it was £100,855.' (Turnbull, 1992, p.36)

This was not a sound policy, as many of those receiving the loans from Bateman were unable to meet their debts to him.

Under a cloud of suspicion Bateman & Co.'s businesses were closed on 26 September 1856, leading to the closure of ten other businesses in Warrnambool (Turnbull 1992, p. 35). Bateman appeared in court in Melbourne to face charges brought against him by the Banks of Victoria and Australasia.

After an initial hearing, Bateman returned to Warrnambool to collect additional papers relating to the case. The night before he was to return to Melbourne, the morning of November 4, the business burnt to the ground. Bateman & Co.'s premises, and merchandise to the value of £30,000 was consumed by the blaze. The Warrnambool Examiner of 7 November 1856 carried both a front page story on the fire itself, and a report on the inquest held on 6 November.

The story was presented as 'one of the most fearful visitations which has ever befallen this Town and District', and drew the reader's attention to the bravery of the locals who assisted to raise the alarm and remove goods such as draperies, and gun powder of which 'about 20 barrels were carted away, which had they exploded, would have blown down most of the houses,' (Warrnambool Examiner, 7 November 1856, p.1). The Examiner also noted that 'All the account books are saved. The iron safes (two very superior ones, we believe) can now be seen through the flames'.

To read the complete article, see:William Bateman Junior & Co, Importers & General Merchants, Warrnambool, Victoria(museumvictoria.com.au/collections/themes/2569/william-bateman-junior-co-importers-general-merchants-warrnambool-victoria)

To read the earlier E-Sylum article, see:AN AUSTRALIAN MAN'S SHOCKING STATIC JACKET(www.coinbooks.org/esylum_v16n25a26.html)