John Wakefield (banker)
John Wakefield I | |
|---|---|
| Born | 1738 Kendal, Westmorland, England |
| Died | 1811 |
| Occupation(s) | Businessman, financier, merchant, banker |
| Known for | Cotton textile manufacturing, brewing, gunpowder production, banking |
John Wakefield I (1738–1811) was a prominent English Quaker businessman, financier, merchant, and banker operating out of Kendal, then part of Westmorland. His entrepreneurial activities extended into cotton textile manufacturing, brewing, and the production of gunpowder.
Life
Born to Roger Wakefield III and Mary Wilson, John began his career in the mid-1750s as a shearman-dyer apprentice under his father. Following his father's untimely death in 1756, his mother took over a significant enterprise that encompassed finance and dyeing services. By the late 1750s, John had become a partner in the family business. His mother remarried William Dilworth, a Quaker banker from Lancaster.
Starting in 1764, Wakefield invested in the Gatebeck gunpowder mill and ultimately became its sole proprietor through a tontine. The firm operated under the name Wakefield, Strickland & Co. In 1790, he obtained a licence to establish an additional mill at Sedgwick, Cumbria. Although his involvement with gunpowder production drew criticism from Quaker authorities in 1806, Wakefield preserved a respected financial standing throughout northern England.
His portfolio also included investments in regional turnpikes and maritime ventures based in Liverpool. Managing five vessels engaged in trade with the West Indies, he exported cotton produced in Kendal and imported sugar. Additionally, Wakefield owned a cotton mill located at Burneside and co-founded the Kendal brewery Wilson & Noble.
On 1 January 1788, he launched a banking institution in Kendal simultaneously with another bank established by Joseph Maude, Thomas Crewdson, and Christopher Wilson. These two banks eventually consolidated in 1840.
Family
John married Margaret Hodgson from Carlisle. Their son, John II (1761–1829), wed Mary Beakbane in 1787. The couple had five sons and one daughter.