The powerful Society of Merchant Venturers controlled the seaborne trade of Bristol for centuries. It first provided for impoverished sailors - the elderly or injured - at an almshouse in Marsh Street, just inside the city wall. After King Street was developed on the other side of the wall, the Merchant Venturers seized the chance to demolish part of the wall to enlarge the almshouse. The new quadrangle opening onto King Street was built in 1696. Sadly half was lost in the Blitz.