In the 17th century,
clothiers in Reading were facing competition from the
north of England, where taxes were lower. On 30 December 1624,
John Kendrick a clothier died leaving
£7,500 to Reading and £4,000 to
Newbury to help their cloth industries. It stretched from the top of Minster Street down along the
Holy Brook. William Kendrick chose the name "Oracle" to honour his brother John, whose idea launched the facility. The Oracle remained in use until the 19th century, and the building was demolished in 1850. == References ==