Walter Vardon Ralston (August 1840 – 14 October 1920) was an Australian banker.

History

Ralston was born in Melbourne,

Colony of New South Wales The Colony of New South Wales was a colony of the British Empire from 1788 to 1901, when it became a State of the Commonwealth of Australia. At its greatest extent, the colony of New South Wales included the present-day Australian states of New ...

, a son of Gavan Ralston, but grew up in New Zealand, where he was educated. He returned to Australia as a teenager, settling in Queensland, where he worked on William Forrest's

Mount Hutton Mount Hutton is a suburb of the City of Lake Macquarie, New South Wales, Australia, located from Newcastle's central business district on the eastern side of Lake Macquarie. It is part of the City of Lake Macquarie The City of Lake Macqu ...

cattle station, near

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. He was later employed as manager of Forrest's Mount Larcom cattle station, near

Gladstone William Ewart Gladstone ( ; 29 December 1809 – 19 May 1898) was a British politican, starting as Conservative MP for Newark and later becoming the leader of the Liberal Party (UK), Liberal Party. In a career lasting over 60 years, he ...

, but suffered from "ague" (perhaps

malaria Malaria is a Mosquito-borne disease, mosquito-borne infectious disease that affects vertebrates and ''Anopheles'' mosquitoes. Human malaria causes Signs and symptoms, symptoms that typically include fever, Fatigue (medical), fatigue, vomitin ...

), and around 1868 returned to Melbourne, where he found employment with the

London Chartered Bank of Australia The London Chartered Bank of Australia (from 1893 the London Bank of Australia) was an English-run Australian bank which operated from 1852 to 1921. History The London Chartered Bank of Australia was formed in October 1852, with the issuing of a ...

, followed by the

National Bank of Australasia The National Bank of Australasia was a bank based in Melbourne. It was established in 1857, and in 1982 merged with the Commercial Banking Company of Sydney to form National Australia Bank. History In 1857, Alexander Gibb, a Melbourne gentleman ...

. In 1874 he returned to Brisbane, where he worked as a teller at the

Queensland National Bank The Queensland National Bank is a former bank in Queensland, Australia. History In 1872, the bank was established in Brisbane. In December 1914, the bank had its head office in Brisbane with branches throughout Queensland at Allora, Queensland, ...

, and later opened branches at Dalby,

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, and

Cunnamulla Cunnamulla () is a town and a Suburbs and localities (Australia), locality in the Shire of Paroo, Queensland, Australia. It is south of Charleville, Queensland, Charleville, and approximately west of the state capital, Brisbane. In the 2021 Au ...

. In 1881 he was appointed manager of the branch at

Cooktown Cooktown is a coastal town and locality in the Shire of Cook, Queensland, Australia. Cooktown is at the mouth of the Endeavour River, on Cape York Peninsula in Far North Queensland where James Cook beached his ship, the '' Endeavour'', for ...

, and in 1888 promoted to the

Townsville The City of Townsville is a city on the north-eastern coast of Queensland, Australia. With a population of 201,313 as of 2024, it is the largest settlement in North Queensland and Northern Australia (specifically, the parts of Australia north of ...

branch and in 1895

Rockhampton Rockhampton is a city in the Rockhampton Region of Central Queensland, Australia. In the , the population of Rockhampton was 79,293. A common nickname for Rockhampton is "Rocky", and the demonym of Rockhampton is Rockhamptonite. The Scottish- ...

and in 1897 was acting manager at head office, Brisbane, made permanent the following year as successor to

Edward Robert Drury Edward Robert Drury (1832–1896) was a banker in Queensland, Australia. He was the first general manager of the Queensland National Bank which played a major role in Queensland finance in the late 19th century. Early life Edward Robert Drury w ...

CMG. His task as general manager was reconstruction of the bank, which had suffered greatly in the

1893 banking crisis The 1893 banking crisis in the Australian colonies involved the collapse of a considerable number of commercial banks and building societies, and a general economic depression. It occurred at the same time as the US Panic of 1893 (1893–1897). ...

. One of his innovations was the establishment of interminable inscribed stock, an important milestone in Australian banking history, and reinforced the bank's role in the development of the Colony and State of Queensland. He was considered a top authority on financial matters, and was consulted by several State Treasurers and other politicians on likely consequences of implementation of policies. His reputation and influence extended beyond Queensland's borders: his advice was sought on Commonwealth banknote issue, and he was considered for appointment as the first governor of the

Commonwealth Bank The Commonwealth Bank of Australia (CBA), also known as Commonwealth Bank or simply CommBank, is an Australian multinational bank with businesses across New Zealand, Asia, the United States, and the United Kingdom. It provides a variety of fi ...

, but

Denison Miller Sir Denison Samuel King Miller , (8 March 1860 – 6 June 1923) was the first governor of the Commonwealth Bank of Australia. Early life Miller was born at Fairy Meadow, near Wollongong, New South Wales, the son of Samuel King Miller, head tea ...

was the eventual appointment.

Other activities

Like his predecessor Drury, Ralston was actively involved in the country's defence. He served in the rank of major in both the Queensland Defence Forces and later the Commonwealth Military Force.

Family

Ralston married Julia Mary Cormack, of

Dalby, Queensland Dalby () is a rural town and Suburbs and localities (Australia), locality in the Western Downs Region, Queensland, Australia. In the , the locality of Dalby had a population of 12,758 people. It is on the Darling Downs and is the administrativ ...

on 2 October 1875. They had a residence on Kedron Brook Road, Eildon Hill, Brisbane. There were no children. Ralston died in his sleep after a few weeks' indisposition, though not severe enough to affect his work schedule until the last week. His remains were buried at the

Toowong Cemetery Toowong Cemetery is a heritage-listed cemetery on the corner of Frederick Street and Mt Coot-tha Road, Toowong, City of Brisbane, Queensland, Australia. It was established in 1866 and formally opened in 1875. It is Queensland, Queensland's lar ...

. The estate map of the Monte Video Estate in Windsor, Brisbane was advertised for sale in June 1929 and included the phrase - "For many years known as the residence and grounds of the late W. V. Ralston."

References

{{DEFAULTSORT:Ralston, Walter Vardon 1840 births 1920 deaths Colony of Queensland people Australian bankers