John Shakespeare, William's father, was a successful Stratford businessman, in the glove-making and wool-dealing trades. He had settled in Stratford by 1552 and later bought property in the town. He held various civic offices, culminating in a year as High Bailiff (mayor) in 1567. However, from 1576 there is increasing evidence of financial embarrassment. He stopped attending Council meetings, mortgaged property to raise money and was said, by 1591, to have stopped attending church for fear of being arrested by creditors if he left his house. His son, William, following his success in the theatre, more than restored the family fortunes. From 1597 to 1605 he purchased four properties in Stratford (including New Place, the second largest house in the town), laying out as much as £900. In those days a house could change hands for £25, clear evidence of Shakespeare's wealth. Other indications of wealth include the acquisition of a family coat of arms in 1596, and the adoption of the coveted title of 'gentleman' in his title deeds. A tax assessment of 1592/3 lists only three 'gentlemen' in Stratford.