sentences:  In 1762 the Company actually took counsel's opinion on the legality of banking and it was only on receiving reassurance that it agreed to open deposit accounts for "friends".A formal "Plan of Trade" was prepared in 1764 to develop banking business but even then the directors were clear that they were not trying to rival the Royal Bank or Bank of Scotland and it was not until 1767 that the first credits were given to non-linen people.For years there remained a fear that legitimacy of the Company's banking activities could be challenged by other banks and there were repeated attempts to obtain a new charter.