New Court [2]: 1865-1962, The City, London, England

'Intended for magnificent business', New Court has been the home of the London house of Rothschild for over 200 years. There have been four buildings called New Court on the site.

The second New Court

By the 1860s, the business of government loan issues had steadily increased and N M Rothschild & Sons remained the unchallenged leaders in this field. Lionel had entered the House of Commons in in 1857 as the first Jewish MP and it was, Lionel felt, time for a new building reflecting the firm's position in the world. In 1860, the first re-building of New Court began, and in 1865 the new building was completed in the style of a grand Italian ‘palazzo’ to the design of Thomas Marsh Nelson, of the firm Nelson & Innes. Nelson had already worked on Lionel de Rothschild's London house at 148 Piccadilly. The domestic feel of the old New Court was swept away in favour of a building more imposing and business-like. "New Court - I mean the new portion which I had never seen, seems to me quite marvellous, and intended for magnificent business" wrote Lionel’s wife Charlotte.

The City around New Court was changing rapidly, and in 1867, the Cannon Street extension of the South Eastern Railway opened. New Court was the setting for global business; it was at his desk in New Court in 1875 that Baron Lionel is said to have signed the cheque which helped his friend, Disraeli secure the Khedive of Egypt's share in the Suez Canal.

Upon Lionel’s death in 1879, his son Nathaniel (1840-1915), later to become the first Lord Rothschild succeed him as Senior Partner. In 1884, the Dividend Office was extended and Rothschild business was in such demand that Natty had to climb into New Court via a first floor window to avoid crowds clamouring for shares in the Burma Ruby Mine issue of 1889. New Court was fitted with the most modern on conveniences, and in 1889 electric light for New Court was costing £1,000 per month. In 1899, No 7 St Swithin’s Lane was acquired for £8,000.

During the First World War, Alfred de Rothschild (1842-1918) constructed a special shelter after war-time air-raid attacks. In September 1919 the first gold fixing took place at New Court. The second New Court survived the London bombing of the Second World War, although in 1941, a bombing raid destroyed the St Swithin London Stone, Salter's Hall (next door to New Court) and the church of St Swithin. Much business was temporarily relocated to Tring Park. By the 1960s, the number of staff had increased to over 300, half of them women.

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