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Archway - Tower Bank |
Harbour FinanceEvidence for the financial arrangements of the harbour comes from the 'Craster Harbour A/c Book 1908 to 1938' in the County Collection at Woodhorn (ZCR/v/9) The private funding for the harbour came from a consortium of members of the Craster family and Mr M.J.Osborn (Montagu John Osborn, who was Thomas William Craster's brother in law), with additional finance from the Board of Trade and the Fishery Board of Scotland.
Total Locally Contributed £4542-14-8d (including a balance of 11d from the sale of the late J.C.P. Craster's investments) The private investors were entitled to a share of the net half-years receipts in line with their share of the funding. The following note was made on Page 3 of the account book. *"These sums added together represent 4/5 of the total proceeds of sale of the late Capt. J.C.P. Craster's investments, the remaining 1/5 being paid to the Edmund S. Craster a/c at the Lloyds Bank, Alnwick." This note indicates that Edmund Craster was not an original investor in the scheme and suggests that the bulk of the private finance from the scheme came from the late Captain Craster's estate. The initials leave something to interpretation but its likely that the beneficiaries were Captain Craster's brothers; Thomas William Craster (b.1860), who inherited Craster Tower upon the death of his father, Edmund Stanhope Craster (b.1863) who emigrated to America in 1885 and is buried in Canada, Walter Spencer Craster (b.1874), who moved to Rhodesia and in 1904 established an engineering company and William Roddam Craster (b.1867). At this time it is not clear who AC and HC are. MJ Osborn was the son of Montagu Francis Finch Osborn, who became vicar of Embleton in 1884. His sister, Hilda, was married to TW Craster. Grants Board of Trade £2000, Scottish Fishery Board £1000 Interest on money on deposit £142-9-2d. Total Funding was £7685-3-10d. Upon the death in August 1917 of W.R. Craster, who is buried at Glenn Rest Cemetery, Idaho, USA, his share was equally divided among four of the surviving Craster investors as follows:
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