Newfoundland’s First Bank Robbery
On November 30th, 1850 the brand new Colonial Building in St. John’s, Newfoundland was the center of a heist — a robbery that history records as the first bank robbery in the island’s history.
Here’s how it happened…
The Story.
Both men knew, if they were going to be successful they would have to keep to the shadows.
Kavanagh held up his hand, Whalen stopped. In the darkness, the giant form of the brand new Colonial Building loomed before them. By day, the structure was crawling with construction workers, busy with finishing touches, but by night it was a different story. He glanced around. They were alone. The lateness of the hour and the cool November night were a great aid to privacy. In fact, it was as if the whole grounds of the building were made for secrecy - the expanse of lawn made sure any passerby on Millitary Road was a good distance away. Too far away to see anything suspicious.
The men crept forward, finally reaching the limestone bricks. They slid, their backs to the wall, until they came to a basement window. One quick push confirmed what the men suspected - it wasn’t locked.
They slipped inside.
It was an open secret in the city, the Colonial Building, and the bank it held, were not well-guarded . Everyone talked about it, said someone should do something, but no one did. It was just a matter of time until someone took advantage of the situation, they said. And on this night, November 30, someone decided to.
Kavanugh and Whelan, having been privy to the stories, knew exactly where to go — the Office of the Colonial Treasurer. It was there they would find the money belonging to the Savings Bank.
The door to the treasurer’s office was locked. It was the first measure of resistance they’d encountered during the whole affair but they had anticipated it. A few whacks with a chisel and the door gave way.
Once inside, they went directly for the heavy iron Milner’s chest. It was there, locked inside, the money was secured. Getting the money out was going to be the most difficult part of the operation.
They heaved the chest out of the office. It was really too heavy for two men, and certainly too unwieldy to take away from the premises. They had to break into it there.
The building was deserted, so the men had time to form a plan. They carried the chest down to the hot air chamber in the basement and, once again, set about work with their chisel. The chest yielded.
Inside they found £413. It was a small fortune. They took it, leaving behind Merchant Bills and notes and Colonial Debentures.
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in 1834 Newfoundland passed an act allowing the treasure to issue bank notes. 1 pound and 5 pound notes were issued as currency.
When the decimal/dollar system was first introduced (1865), the Newfoundland pound had a value of four dollars. Special bills were issued showing both one pound and four dollars.
All that was left was to escape. It proved just as easy as the break-in - they retraced their steps, out through the window, across the lawn and into the night.
Just like that, they’d done it - they’d robbed the bank.
“You can't cure a frozen heart with money,” sings Newfoundland band With Violet in their 2021 release. If only they’d been there to offer advice 171 years ago.
The Aftermath
£413 may not sound like a lot of money but converted into modern Canadian currency it would be worth close to $100 000 — a significant sum.
The theft prompted the government of Newfoundland offer a reward of £100 for information leading to the arrest. Putting the ‘honour among thieves’ adage to the test, they also promised a pardon to any accomplice that came forward.
Some three months after the heist, James Kavanagh and Michael Whelan were arrested for the crime. One of the men had actually been a labourer at the bank site so he had knowledge of the bank and its security (or lack thereof). £270 of the stolen property was recovered. Both men confessed to the deed.
For more information check out this news report from the Morning Courier (Dec 4, 1850), and the Story of the Colonial Building (1972)
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Morning Courier, Dec 4, 1850
The Oldest City, Paul O’Neill, 2003
Nearly 200 years ago, two young men robbed a bank in England and found themselves hiding out in St. John’s, NL. They staged a daring prison break and left Newfoundland with a mystery that remains unsolved to this day.