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Formby Money Puzzle Hits the Headlines

I came across the following news item by chance as I searched a newspaper archive. It piqued my interest for a number of reasons. I suspect the name of the Chairman will be listed on the old Formby Urban District Council notice board on display in Formby Library.

The story raises a number of questions in my mind. For instance, which of the local Banks was involved? Did the person concerned ever come forward? What was the rate of return and how much did the initial pound accrue? It would be interesting to know more about the motives of the Council. And of course, finally, who was the oldest inhabitant?

Does anyone still living in Formby remember the story? And have they got any answers to the questions above? 

The puzzle is gathering interest every day.

Money Puzzle
Daily Mirror 5th May 1950

When the chairman of the local council opened a new bank at Formby (Lancs) a fortnight ago he opened an account for the oldest inhabitant of the town.

Yesterday, the £1 deposit he made remained in the bank—untouched, unclaimed. For whoever the oldest person is, he or she is also one of the shyest and won't come forward.

New efforts are to be made to find who is entitled to the account.

Until the person is found, the money will just go on collecting interest, said the bank manager.

Source Daily Mirror Friday 5th May 1950

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