Joseph Brooks Yates

Partnership Role

France, Fletcher & Co.
Other partner

West India merchant ()

1801 Joseph Brooks Yates, although just out of his apprenticeship, took a quarter share in the firm founded by James France, with Thomas Fletcher, John Henry Matthews and Thomas France (ne Hayhurst). Firm became Fletcher, Yates & Co. 1815 after Thomas France's death; partnership of Fletcher and Yates terminated 31/12/1827, when the capital was 60/40 Yates/Fletcher, Fletcher's share £18,000 before reduction for depreciation of shipping.

Thomas Fletcher born 22/6/1767, son of a hatter, apprenticed at age 16 to James France, 'an extensive Jamaica merchant'. About the time of the expiry of Fletcher's 6 year apprenticeship [i.e., around 1790], James France withdrew from the firm leaving a large amount of capital with them, and his nephew Thomas Hayhurst became head of the firm. Fletcher became junior partner, bringing in £2000 (largely made up of borrowed monies from the family property). When James France died, Thomas Hayhurst in accordance with the will assumed the name of France. He also invested under the terms of the will a considerable portion of James France's money in real estate , buying Bostock in Cheshire, where his descendants reside. In 1801 there was a reconstruction of the firm, entry into partnership of Joseph Brooks Yates and John Henry Matthews, who had been for some time with the firm. Yates had a 25% share, although just out of apprenticeship, through his father the Rev. John Yates (pastor of the Unitarian chapel in Paradise Street, a 'speculative parson') who had a secret interest in the firm. Thomas France died 8/1/1815, Thomas Fletcher became the senior partner. On expiry 31/12/1827 Yates had 3/5ths and Fletcher 2/5ths. Yates wanted Fletcher to put up more. Fletcher's share was £18,000 reduced to £11,000 by 'depreciation of shipping'.

Thomas France was a partner in France, Fletcher Yates & Co. (Thomas France, Thomas Fletcher, Joseph Brooks Yates, Samuel Poole junior and John Henry Matthews), dissolved in consequence of the death of Thomas France on the 8th January last [notice dated Liverpool December 4 1815], business continued by Thomas Fletcher, Joseph Brooks Yates and Samuel Poole jun. (James France France, John Cropper and Jonathan Brooks = exors of Thomas France)

Partnership between Thomas Fletcher and Joseph Brooks Yates under the firm of Fletcher, Yates & Co. Expired 1/1/1828

John Hughes, 'Liverpool Banks and Bankers 1760-1837 a history of the circumstances which gave rise to the industry, and of the men who founded and developed it', pp. 74-7.

Partner Share

25%