In June 1829, John Dunn informed the public that he had established the Commercial Bank in temporary premises in Davey Street. Dunn had already purchased land in Macquarie Street for the construction of a new building.
In January 1831, the Colonial Times was able to report that:
We have much pleasure in announcing our spirited and enterprising Townsman, John Dunn, Esq., has removed his highly useful and popular establishment the Commercial Bank, to his new house, in Macquarie-street, next to the Guard-house, certainly one of, if not quite, the most handsome building in Hobart Town, and reflects great credit on the architect and builder, Mr Henry Chapman, of the New Town Road. We understand, the Savings Bank lately commenced by Mr Dunn, meets with the encouragement such an undertaking merits.
For its entire existence, the Commercial Bank was controlled by two families; the Dunn's and the Barclay's. The Commercial Bank prospered under the management of John Dunn, who gained wealth and respect for his successes. John Dunn was succeeded as managing director by his son, James Alfred Dunn in 1857. Charles James Barclay assumed the position of manager in 1872, which passed to his brother David Barclay when he died in 1904.
Photo Caption: Circa 1860, Commercial Bank Building second from foreground. Photo courtesy Allport Library & Museum of Fine Arts.
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