This tea company, operating in Assam, India, 1885-1978, was part of the Inchcape Group of companies.
This company, operating in Assam, India, 1909-79, was part of the Inchcape Group of companies.
The stockbroking firm of J and A Scrimgeour first appears in printed lists of members of the Stock Exchange in 1864. It became a limited company in ca. 1972. In around 1981, J and A Scrimgeour Limited merged with Kemp-Gee and Company to form Scrimgeour, Kemp-Gee and Company. The new company joined with Vickers da Costa (UK) Limited in 1985 to form Scrimgeour Vickers and Company. At this date Citicorp Investment Bank Limited acquired a minority stake in the firm, later taking full control. The constituent companies were subsequently closed down.
J and A Scrimgeour had premises at 18 Old Broad Street (1864-c 1903); South Sea House, Threadneedle Street (c 1903-1909); 2 and 3 Hatton Court, Threadneedle Street ([1909-1921]); 6 Austin Friars ([1921-1930]); 3 Lothbury and 5 Moorgate ([1930-1945]); 3 Lothbury ([1945-1952]); 15 and 16 George Street, Mansion House Place ([1952]-1976). From 1977, J and A Scrimgeour Limited is listed at The Stock Exchange, with other offices at 18-20 Andrew Street and 1 Benjamin Street. Scrimgeour, Kemp-Gee and Company (subsequently Scrimgeour Vickers and Company) had offices at 20 Copthall Avenue.
John Thomas Hart, butcher, began trading at 275 Bethnal Green Road about 1850. The company moved to 96 Upper Whitecross Street (1852-63), Leadenhall Market (1864-9), and finally to the Central Meat Market, at 120 Avenue East 1869-89), eventually occupying 301-7 Central Markets (307 as a meat store) as their main premises between 1889 and 1979. There were also some suburban shops prior to 1927, and a stall in Caledonian Market.
The company had a factory at 516-18 Central Markets, employing about 35 staff, preparing sausages and cooked meats. It sold meat in retail shops and to the catering trade, including restaurants, hotels, hospitals, and the canteens of City offices, and also dealt in poultry and game and a small amount of provisions. After the war, 341 Central Markets was opened as a separate poultry department and 335-8, later extended with a cash and carry section in 333-4, as a provisions and grocery shop. There was also a fruit and vegetable shop at 304 Central Markets until 1974. The company acted as the City agent for Saxby Bros. from circa 1940 to 1979.
Harts was acquired by Leonard Chalk in about 1930. The Chalk family sold it in 1969 to Matthew (Butchers) Ltd although Derek Chalk remained managing director until his retirement in 1978. The sausage and cooked meat preparation was taken over by Matthews' central factory, and the factory in Central Markets closed in 1973-4. In July 1979 the provision shops were closed, 341 Central Markets became a delicatessen, and 301-6 retained as a retail butchers with a catering department and a limited delivery service. The separate limited company was terminated in September 1979.
The above information was derived from London directories and from internal information, with additional information from Mr R Harman and Mr. Luff of Matthews (Butchers) Ltd, January 1980.
James Capel and Company are stockbrokers of Winchester House, 100 Old Broad Street. The company was previously based at 31 Throgmorton Street (1897-1901); 7, 9 and 11 Moorgate (1902-1926); 10 Old Broad Street (1927-1958) and 1 London Wall Buildings (1959-1965).
The Company originated as Antrobus and Wood, 1799-1816; then was known as Thomas Brown and Co., 1816-1822, and afterwards Marjoribanks, Capel and Co., 1822-1837, of 2 North Piazza, Royal Exchange to 1824 and then 5 Throgmorton Street. In 1837 the name changed again to James Capel, Norbury, Trotter and Company, which it was called until 1864, and was based at 5 Throgmorton Street, to 1896, and 9 Throgmorton Street, 1843-1850 only.
Cruikshank and Company, a firm of stockbrokers, was formed in 1929. In 1936 its partners consisted of RG Cruikshank, J C Bonnar, ACH Bull, and VS Butler. They were based at Pinners Hall, Austin Friars. In 1946 the firm merged with James Capel and Company.
The firm was established by six lawyers in 1836 as Legal and General Life Assurance Society with offices at 10 Fleet Street, City of London. It changed its name to Legal and General Assurance Society in 1919. Its head office moved to Temple Court, Queen Victoria Street in 1962. The company initially dealt with life assurance business, but grew to become a major financial services company also providing pensions, investments and general insurance plans.
Glanfield Securities Limited was founded in 1853 as G Glanfield and Son, clothiers. The company was incorporated in 1916 and was taken over by Legal and General, circa 1960.
The Company had several addresses: 32 Dempsey Street, Stepney (1852-5), 247 Bethnal Green Road (1855-89), Eldon Street (1889-90), 462 Bethnal Green Road (1890-1908), 1,3,5 Brick Lane (1908-40), Harrow (1941-3), Benfleet (1943-56) and Leeds.
This company of Africa merchants had premises at 5 New City Chambers, Bishopsgate. It was associated with River Gambia Trading Company Limited and William Goddard and Company.
This company was incorporated on the 12th of January 1909 and had London offices at 9 Cloak Lane (1909-66), Lee House, London Wall (1967-72) and Three Quays, Tower Hill (1973-5). It went into liquidation in December 1976.
Edward Moore and Sons: The company was formed by Edward Moore who began to practice as a "public accountant" at East India Chambers, Leadenhall Street from 1866 as 'Moore and Wallis's Mercantile Agency'. In 1880 Edward Cecil Moore was made a partner and the new partnership 'Edward Moore and Son' moved to offices at 3 Crosby Square. Another son was made a partner in 1890 and the style of the firm duly changed to 'Edward Moore and Sons'. In 1922 the company moved to 3 Thames House, Queen Street Place, in 1968 to 4 Chiswell Street and in 1988 to Clifford's Inn, Fetter Lane. The firm expanded in the 1970s opening a number of branch offices throughout England and Scotland. Edward Moore and Sons amalgamated with a number of practices in the 1970s and 1980s, most notably with Rowland Nevill of New Broad Street in 1985 to form the new company Moores and Rowland (from 1989 Moores Rowland).
Sewell, Hutchinson and Company: The company was formed in 1914 from C F Burton and Sewell and Company (itself formed in 1906) and acted as accountants until 1965 when the company was merged to form the group Rowland, Goodman, Sewell, Hutchinson and Sheen. It was based successively at Copthall Avenue (1914-15), Broad Street Place (1915-24) and Finsbury Pavement House, Moorgate (1925-65).
Waissen Wilson: The firm of chartered accountants Waissen Wilson was founded by H Waissen Wilson at 5 Guildhall Chambers c.1888. It moved to 12 Trinity Square (1890-1911), 40 Trinity Square (1911-1918), 2 Fenchurch Avenue (1918-39), 13 Fenchurch Avenue (1939-40), 20 Copthall Avenue (c 1940-64) and 137 Victoria Street (1964-72). On Wilson's death in 1915, Henry and James Holmes took over the running of the practice, having previously acted independently from 60 Coleman Street. In 1972 Waissen Wilson merged with Westcott, Maskall and Company to form Westcott Wilson, based at 24 Grosvenor Gardens (1973), 1 Vincent Square (1974-9) and 87 Vincent Square (1980-1). This firm was taken over by Blakemore Elgar and Company in 1981, who merged with Moores Rowland in c.1995.
Westcott, Maskall and Company: William Westcott began practising ca.1853 and by 1872 had formed Bagshaw, Westcott and Johnson, chartered accountants, at 35 Coleman Street. In 1875 this practice became William Westcott and Company Limited. It became Westcott, Maskall and Company when Thomas Maskall was admitted as partner in 1899. The practice moved to 99 Gresham Street (1888-1905); 29 and 30 Broad Street Avenue (1905-51); and 33 Catherine Place (1951-72). In 1972 they merged with Waissen Wilson to form Westcott Wilson, based at 24 Grosvenor Square (1973); 1 Vincent Square (1974-9) and 87 Vincent Square (1980-1). In 1981 this firm was taken over by Blakemore Elgar and Company, who merged with Moores Rowland c 1995.
George Peabody, a partner in Peabody Riggs and Company, merchants of Baltimore, with offices at 31 Moorgate, established his own business as a merchant at the same address in 1838. He ended his association with the American firm in ca.1843 and removed to 6 Warnford Court in 1845. In 1852 he took Mr. O. C. Gooch into partnership and the style of the firm changed to George Peabody and Company, merchants.
In 1854 it moved to 22 Old Broad Street. In the same year Junius Spencer Morgan became a partner and upon Peabody's retirement in 1864 the style of the firm became J S Morgan and Company (London Directories refer to it as Junius Spencer Morgan and Company until 1895). Edward Grenfell became a full partner in 1904 and the style Morgan Grenfell was adopted on 1 January 1910. Between 1918 and 1934 the bank was a private unlimited company, and in 1934 it became a private limited company.
George Herbert Pember became a member of the London Stock Exchange in December 1867 and Cecil William Boyle in March 1876. They formed the partnership of Pember and Boyle, stock and sharebrokers in 1879 at 62 and 63 Cornhill. The firm remained at this address until 1885 and subseqently had offices at 63 Cornhill in 1886; 24 Lombard Street, 1887-1901; 18 Cornhill, 1902-15; 6 Princes Street, 1916- 70; St. Albans House, Goldsmith Street, 1971-77; and 30 Finsbury Circus, 1978-86. The firm dealt mainly in gilt-edged securities. It was acquired in October 1984 by Morgan Grenfell and Company.
The National Life Assurance Society was formed at a meeting of prospective shareholders on 31 December 1829, and became a mutual in 1847. It established agencies internationally, as well as acquiring many from the takeover of the Whittington in 1894. It premises were at 2 King William Street. Whittington Life Assurance Company was taken over by the National Life Assurance Society in 1894 after 3 years of negotiations.
The Mutual Life Assurance Society was founded in 1834 by the brothers James and William Burchell, and originally based at 37 Old Jewry. In 1848 it moved to 39 King Street, and expanded into no. 38 in 1859, new premises being built on the site.
The National Mutual Life Assurance Society was established by the merger of the National and the Mutual Life Assurance Societies in 1896, and was based at the Mutual's offices at 39 King Street (rebuilt in 1936) until its move to larger premises at Bow Churchyard in 1960.
From 1921-38 its chairman was the economist John Maynard Keynes, some of whose papers survive in the collection (his speeches to the AGM, which became City events, have been published in the Collected Writings of John Maynard Keynes, vol.XII, ed D Moggridge, London 1981; they were also reproduced in The Times). During World War II the head office was located at Stanmore. The firm was taken over by General Electric in 2002.
The National Mutual Life Assurance Society was established by the merger of the National and the Mutual Life Assurance Societies in 1896, and based at the Mutual's offices at 39 King Street (rebuilt in 1936) until its move to larger premises at Bow Churchyard in 1960.
From 1921-38 its chairman was the economist John Maynard Keynes, some of whose papers survive in the collection (his speeches to the AGM, which became City events, have been published in the Collected Writings of John Maynard Keynes, vol.XII, ed D Moggridge, London 1981; they were also reproduced in The Times). During World War II the head office was located at Stanmore. The firm was taken over by General Electric in 2002.
Arbanash (Roumania) Oil Company was incorporated in the UK in 1912. It was the nominee through which Phoenix Oil and Transport Company Limited held the capital of Unirea S.A.R. de Petrol, a Romanian registered oil company.
Orion SAR de Petrol owned oilfields in Romania. Although a Romanian registered company, it was a Dutch undertaking, formed in 1910. Orion was acquired by Phoenix Oil and Transport Company in 1926 and amalgamated with Unirea SAR de Petrol, a wholly owned subsidiary of Phoenix Oil and Transport Company, in 1935.
Prideaux and Sons, solicitors of Goldsmiths' Hall, Foster Lane, appear to have traded under the following names: to 1852 Lane and Prideaux; 1853-71 Walter Prideaux; 1872-80 Walter Prideaux and Son; 1881-6 Walter Prideaux and Sons; and 1887-1946 as Prideaux and Sons. In 1947 the firm became Kennedy, Ponsonby and Prideaux of 52 Bishopsgate.
Founded in 1840 as the Provident Clerks' Mutual Benefit Association, its name changed in 1848 to the Provident Clerks' Mutual Life Assurance Association, in 1903 to the Provident Clerks' and General Mutual Life Assurance Association and in 1917 to the Provident Mutual Life Assurance Association.
It had offices at 12 Wormwood Street 1840, 60 King William Street 1840-5, 42 Moorgate Street 1845-54 and 15 (subsequently re-numbered as 27) Moorgate Street from 1854.
The Association specialised in the provision of assurance for office clerks, particularly through "staff schemes" negotiated with individual employers (such as the General Post Office and a number of railway companies).
The Prudential Assurance Company was established in 1848 as The Prudential Mutual Assurance Investment and Loan Association, providing loans to professionals secured through life assurance. An Industrial Department was opened in 1854, selling life insurance to the working classes by means of door-to-door agents. Following acquisitions in the 1860s, the company was renamed The British Prudential and Consolidated Assurance Company. This name was shortened in 1867 to The Prudential Assurance Company. It became a limited liability company in 1881.
In 1919, the company moved into general insurance for the first time. Overseas agencies and branches were opened in the 1920s and 1930s to sell both life and general insurance. By the 1970s, the company had made further acquisitions and it was restyled the Prudential Corporation plc in 1978. The name was changed again in 1999 to Prudential plc.
The Prudential Assurance Company was based at Hatton Garden, 1848-1879 and Holborn Bars, 1879-2006. The company subsequently relocated to offices across the UK and India; the registered office is now at Laurence Pountney Hill.
The Alliance Assurance Company, of 1 and 2 Bartholomew Lane, was established in 1824. Until 1886 the company was known as the Alliance British and Foreign Life and Fire Assurance Company. In the 19th century, its business was extended to Europe, USA, the West Indies and India. It was acquired by the Sun Insurance Office in 1959.
In 1902 the income from the life and annuity policies of the Imperial Life Insurance Company, the Argus Life Assurance Company and the England Assurance Institution was amalgamated to form the Imperial Life Assurance Fund (see Ms 38911-15).
The Company appears to have been founded c 1840, when the first surviving records begin. It was based at 5 Lothbury, 1840-63 and from then at 9-10 King Street, Cheapside. It became known as the England Assurance Institution in 1892. The following year it was acquired by Imperial Life Insurance Company. In 1902, Imperial Life was acquired by Alliance Assurance and this company merged with Sun Insurance to form Sun Alliance in 1959.
The County Fire Office was founded in 1807 by John Thomas Barber (from 1812 John Thomas Barber Beaumont) to conduct fire insurance business in county areas, specifically country-house and farming risks. It was originally established by 'an association of noblemen and gentlemen' from the counties of Bedford, Berkshire, Buckinghamshire, Hertfordshire, Leicestershire, Lincolnshire, Middlesex, Northamptonshire, Nottinghamshire, Oxfordshire, Warwickshire and Yorkshire.
Each county (Yorkshire was treated as three counties) was allocated 250 shares at £100 each. No individual was allowed to hold more than ten shares. Five people were elected in each county as directors from holders of not less than five shares each; one retired annually to be replaced by another elected by ballot at annual county meetings.
A unique feature of the company was that each person who continued a policy for seven years, whether annual or septennial, was entitled to share in the profits of the concern without being liable to any losses. J T Barber was appointed the first managing director and upon his death in 1841 was succeeded by his son John Augustus Barber Beaumont. He retired in 1877 and was replaced by his son, Seymour Augustus Beaumont, until his suicide in 1906.
The County Fire Office was originally administered under a Deed of Settlement of 25 February 1808 and later amendments. It was registered as a limited company on 1 August 1905 and the business was acquired by the Alliance Assurance Company in 1906, but the name of the County Fire Office was retained.
The Company started business from the residence of J T Barber Beaumont at 25 Southampton Street, Covent Garden. On 1 Decemder 1819 it moved to 50 Regent Street, which remained its head office until 1970, except for a short period between October 1924 and June 1927 during the rebuilding of 50 Regent Street, when it moved to York House, 15 Regent Street. During the Second World War the business was conducted from Hindhead, Surrey. The name disappears from the London Directories after 1970.
Business was conducted through agents, and offices were gradually opened in major towns and cities throughout the U.K. Its offices in the City of London were at 2 Royal Exchange Buildings, 1849-1855; 78 Lombard Street, 1857-[1867]; 14 Cornhill, 1856-1909; and 4 Lombard Street, 1909-1941.
The Crown Life Assurance Company was established in 1825. It traded from 33 New Bridge Street, 1825-1866, and 188 Fleet Street, 1866-1892. It was acquired in 1892 by the Law Union Fire and Life Insurance Company, which was subsequently re-named the Law Union and Crown Fire and Life Insurance Company.
The London Assurance Corporation was established by Royal Charters granted in June 1720 (marine business) and April 1721 (fire and life). It became a subsidiary of the Sun Alliance in 1965.
Its first offices were in the "Rising Sun" in Broad Street, E.C. In August 1720 it moved to a house in Castle Court, Birchin Lane E.C. (formerly the "Ship and Castle" tavern built upon the site of the "Dolphin Tavern" destroyed by the Great Fire in 1666) where it remained until another fire in March 1748. New offices were built at 19 Birchin Lane E.C. and it remained there until 1845. From 1845 to 1922 its head office was at 7 Royal Exchange, E.C. and from 1922-65 at 1 King William Street, E.C.4.
This company was established in Nottingham in 1832. In 1869 its life business was acquired by Norwich Union and its fire business by Imperial Insurance Company which then changed its name to Imperial Fire Insurance Company. In turn, Imperial Fire became part of Alliance Assurance and then Sun Alliance.
The Patriotic Assurance Company of Dublin was established in circa 1824. It merged with the Sun Insurance Office in 1906.
This company was established in 1806. It traded from 14 (re-numbered c 1850 as 15) New Bridge Street. It was acquired in 1909 by the Law Union and Crown Fire and Life Insurance Company, which was subsequently re-named the Law Union and Rock Insurance Company.
The Rubber Growers' Association was established on 24 June 1907 with the aim of providing a central place where those interested in the production of rubber might meet and discuss matters connected with the industry. Members were to be drawn from any individual or company interested in or connected with the rubber industry (initial members being invited via a circular letter). In July 1912 the Association was incorporated as a limited company; by this time, its work had outgrown all previous expectations. The Association was active in the industry internationally, and this included research projects and examinations into the state of the industry as a whole.
In 1987, the title of the Rubber Growers' Association changed to the Tropical Growers' Association in order to reflect wider representation of plantation crops. Meetings of the Rubber Growers' Association were held in various places through the years:
1907-1914, Chamber of Commerce Building, Oxford Court, Cannon Street;
1914-1922, 38 Eastcheap;
1922-1935, 2-4 Idol Lane, Eastcheap;
1935-1962, 19 Fenchurch Street;
1962-1973, Plantation House, 10-15 Mincing Lane;
1973-1975, Unilever House, Blackfriars;
1975-1980, Dunlop House, Ryder Street, SW17.
These papers were accumulated by Joseph Walter Vincent and retained by his son Basil Walter Vincent. They were partners in the firm of Sissons, Bersey, Gain, Vincent and Company, chartered accountants of 53 New Broad Street. This became, in 1943, Farrow, Bersey, Gain, Vincent and Company.
The Society of Public Notaries of London was formed in 1823 as a society to represent the profession of notaries public within London. The Society is now known as the Society of Scrivener Notaries (a term first used in 1978), in recognition of the sole entitlement ot its members, until 1998, by virtue of their being members of the Scriveners' Company, to practise within London and a three mile radius thereof. A notary public is a member of the legal profession who can administer oaths and statutory declarations, and witness and authenticate documents and legal instruments. In London, as the majority of these instruments were of an international nature, and were usually required for international exchanges, notaries public (now scrivener notaries) were also the translators of such documents. All notaries public in London had to be members of the Scriveners' Company, having served an apprenticeship, and then undergo additional examinations set by the Company (in conjunction with the Society and the Faculty Office). Notary appointments are then made by the Faculty Office of the Archbishop of Canterbury. There are currently only four City firms who are members of the Society of Scrivener Notaries.
The Society's affairs are managed by a Committee of no less than 9 members, including a Secretary and Treasurer. Meetings were held at offices of members, usually the Secretary (and, occasionally in the early 1880s in the London Tavern). But from 1885 they were often held in the Society's library, variously sited at Martin's Bank, 68 Lombard Street (1885-1901); 96 Bishopsgate St (1901-28), the Institute of Chartered Secretaries, 6 London Wall (1928-36), 8 Whittington Avenue (1936-40), 9 Bishopsgate (1940-60), 120 Moorgate (1960-75) and Stone House, Bishopsgate (1975-7).
The society was formed in 1790 and was the first trade association formed by the sugar refining industry. It held its meetings at the offices of Phoenix Assurance Company. It was also known as the Sugar Refiners Club, and Trebilcock's history of Phoenix refers to it as the Sugar Refiners Trade Committee.
Bombay Burmah Trading Corporation Limited (BBTCL) was founded in 1863. Originally called the Burmah Trading Company Limited, its name was changed shortly after its foundation. The corporation was formed as a public company to take part in the developing teak business by taking over the assets and rights in Burma of William Wallace, the eldest of the six Wallace Brothers. From 1863 until the 1950s, A F Wallace, the senior resident partner of Wallace and Company was its chairman, and Wallace and Company largely directed its affairs. Its head office was in Bombay, but its initial operations were in Burma (Myanmar) and branch offices were opened in Rangoon and Moulmein in the 1860s or 1870s.
It expanded its operations into Siam (Thailand) in 1884, Java in 1905-6, South India in 1913, North Borneo in the late 1940s and East Africa in 1955. Its trading interests (some operated directly, others through subsidiary or associated companies) were in teak (and later other timbers too), and in other commodities including rubber (from ca.1907), tea and coffee (from the 1930s) and tapioca (from 1954). For eighty years was, the BBTCL was the single largest teak company in the industry, marketing over a third of the world's teak supplies. The fortunes of the company rested heavily on teak trade from Burmese and Siamese forests. The corporation was a dealt a blow in 1942 when the Japanese invaded Burma and Siam, bringing teak production to a halt.The timber trade declined in the mid 20th century and later the company's main business was in manufacturing and Indian tea plantations, established since 1913.
A major part of Wallace Brothers' business was to act as the London agents of the BBTCL, developing markets in the United Kingdon and continental Europe for shipments of timber and providing finance to bring the cargoes from the Far East.
Wallace Brothers also purchased machinery and equipment in London on Bombay Burmah's behalf. In practice, however, since the Wallace family were the senior partners in Wallace and Company of Bombay, who in turn were managers of Bombay Burmah, Wallace Brothers were more than Bombay Burmah's London agents. Until the 1950s, Wallace Brothers had the power to exercise control over Bombay Burmah's policy and operations. In the late 19th century Bombay Burmah's dividends and staff pay were decided in London, and until ca. 1960 its senior (European) staff were selected and appointed there.
Bombay Burmah had the following subsidiaries and associated companies:
Amalgamated Saw Mills Limited
Anamallais Ropeway Company Limited
Bombay Burmah Plantations Limited
East India Rubber Corporation Limited
Joint Timber Company Limited, Thailand
North Borneo Timbers Limited
Rangoon Mining Company
Sumatra Petroleum Company
Thai Tapioca Limited
Glazebrook, Steel and Company Limited, merchants and shippers of Manchester, was formed in 1884 to supply Bombay with Lancashire textiles. The business was originally named Wallace and Company, Manchester, England and was created by Alexander and Robert Walllace. Until 1931, Wallace Brothers had a substantial shareholding in the Company and the right to nominate the governing director. After 1931 the shareholding was reduced but Wallace Brothers continued to maintain close links with the company.
Wyer and Hawke were set up as a formal partnership between M R Wyer who and E J Hawke who acted as the London agents for the Bombay Company Limited. The partnership was set up due to the advantages of handling exchange transactions in London and was based at the Wallace Brothers offices at 8 Austin Friars, City of London. It was staffed by senior members of the Bombay Company Limited upon their retirement from India. Wyer was a partner in Wallace and Company 1881-1892 and managing director of the Bombay Company Limited 1890-1904, when Wyer and Hawke was formed. Hawke was a managing director of the Bombay Company Limited 1903-1912. Wyer and Hawke was dissolved in 1968.
Hermes Securities Limited, incorporated 1969, was a holding company based at 165 Queen Victoria Street, City of London. Its subsidiary, Hermes Credit Corporation Limited, were investment bankers registered at the same address.
The Eastern Bank Limited was founded in London as a limited company at the end of 1909 as a new Eastern 'exchange' bank, to help finance trade with the East. As well as the Head Office in London, which exercised close day-to-day control, it had two overseas branches. established in 1910 in Bombay and Calcutta. From the start the Bank had a number of powerful institutional shareholders, including the Eastern trading house, E D Sassoon.
In the mid 1950s the Calcutta branch of the bank made several loans to the Mundhra group of companies, owned by Haridas Mundhra. The group included the Brahmapootra Tea Company (India) Limited; Osler Electric Lamp Manufacturing Company Limited; F&C Osler (India) Limited; Richardson & Cruddas Limited; and the British India Corporation.
Haridas Mundhra borrowed in excess of a quarter of a million pounds from Eastern Bank, and subsequently underwent civil and criminal prosecution in India. The manager of the Calcutta branch resigned, and was prosecuted in India for falsifying stautory banking returns. The total loss to Eastern Bank was around £750, 000.
Arnhold and Company Limited existed in China since 1866, when it was initially known as Arnhold, Karberg and Company. It traded in and became a leading distributor of building materials and engineering equipment. It was reconstituted as a British company after 1919 and Sir Victor Sassoon became the majority shareholder after 1919 after a merger. The company is still trading and is now known as Arnhold Holdings Limited. The initial chairman was Harry Edward Arnhold, a close business associate of Sir Victor Sassoon. The Company's headquarters were in the Arnhold Building at 6 Kiukiang Road, Shanghai, China until its relocation in 1930 to the third floor of Sassoon House, 1 Nanking Road, Shanghai, China. Arnhold and Company Limited flourished until 1949 when, with the change of Government in China, the headquarters relocated to Hong Kong. Maurice Green, who had been associated with the company since the Sassoon takeover, acquired the controlling interest in Arnhold and Company Limited in 1957.
The Chartered Bank of India, Australia and China, known from 1956 as The Chartered Bank, was established by Royal Charter in 1853. It was an overseas exchange bank, based in and controlled from the City of London. It was established to take advantage of the end of the East India Company's monopoly in 1853.
The bank operated in India and throughout the Far East - in China, Hong Kong, Vietnam, Cambodia, Siam [Thailand], Burma [Myanmar], Singapore, Malacca, Penang and the Malay States, the Philippines, Japan, Java, Sumatra, Ceylon [Sri Lanka], North Borneo, Brunei, Sarawak, Pakistan and East Pakistan. There were also branches in New York [United States of America] and Hamburg [Germany]. Despite its name, the bank never operated in Australia.
Further UK branches opened in Manchester (1937) and Liverpool (1948). The bank gained a second London office and additional branches in India, Pakistan, China and Ceylon with the takeover in 1938 of the P and O. Banking Corporation.
The bank's activities in the Far East were severely disrupted by World War Two and nationalist post-war governments in the region. The takeover in 1957 of rival Eastern Bank presented new opportunities. Eastern Bank was active in Chartered Bank's traditional areas of operation, but also had branches in the Middle East - in Iraq, Bahrain, Yemen, Lebanon, Qatar, Sharjah, Abu Dhabi, Dubai and Oman. In the same year, Chartered Bank purchased the Ionian Bank's interests in Cyprus.
The bank operated from various City of London addresses: 1852 first two meetings of directors at 8 Austin Friars; November 1852 offices acquired at 21 Moorgate. December 1853 - 1855 rented offices at South Sea House, Threadneedle Street. 1855 rented offices at 34 Gresham House, Old Broad Street. June 1857 - 1866 rented offices in the City Bank building at Threadneedle Street. 1867 Former Hatton Court building on Threadneedle Street. In 1909 they moved into newly built premises on the former site of Crosby Hall where they were still at the time of the merger with Chartered Bank in 1969.
For further information on the history of the bank see Sir Compton Mackenzie, Realms of silver: one hundred years of banking in the East (London, 1954) and Geoffrey Jones, British multinational banking 1830-1990 (Oxford, 1993).
Oversight of the accounting and financial functions of the bank was managed by the Chief Accountant (known as 'Accountant and Registrar' (to 1875) then 'Accountant' (to 1904) then 'Chief Accountant' (1905 onwards). He was part of the Bank's senior-level staff and was based at Head Office.
Until 1909 the Chartered Bank was not authorised to act as a general banking business in London, therefore cash for Head Office customer accounts had to be obtained from the City Bank and any monies had to be paid in there also.
The Secretary also kept close contacts with the Chief Accountant's office and many reports and letters actioned by the Chief Accountant and his staff were copy-letters addressed to the Secretary.
The Chief Accountant's office also managed/was closely involved with various other departments-
*The Inspection Department: (created in 1906 and headed by the Chief Accountant)
*The Bullion Department: This was in existence by 1908
*The Taxation and Statistics Department: This was in existence by the 1930s/40s and appears to have fallen within the Chief Accountant's remit. In 1953 the Bank published a brief history using statistics prepared by Mr J English of the Taxation and Statistics Department. Mr English later became Chief Accountant.
*The Secretary's Department, especially regarding the acquisition/merger and ongoing management of the various banks acquired by Chartered Bank (including P and O Banking Corporation, Eastern Bank and Allahabad Bank).
The Chartered Bank of India, Australia and China, known from 1956 as The Chartered Bank, was established by Royal Charter in 1853. It was an overseas exchange bank, based in and controlled from the City of London. It was established to take advantage of the end of the East India Company's monopoly in 1853.
The bank operated in India and throughout the Far East - in China, Hong Kong, Vietnam, Cambodia, Siam [Thailand], Burma [Myanmar], Singapore, Malacca, Penang and the Malay States, the Philippines, Japan, Java, Sumatra, Ceylon [Sri Lanka], North Borneo, Brunei, Sarawak, Pakistan and East Pakistan. There were also branches in New York [United States of America] and Hamburg [Germany]. Despite its name, the bank never operated in Australia.
Further UK branches opened in Manchester (1937) and Liverpool (1948). The bank gained a second London office and additional branches in India, Pakistan, China and Ceylon with the takeover in 1938 of the P and O Banking Corporation.
The bank's activities in the Far East were severely disrupted by World War II and nationalist post-war governments in the region. The takeover in 1957 of rival Eastern Bank presented new opportunities. Eastern Bank was active in Chartered Bank's traditional areas of operation, but also had branches in the Middle East - in Iraq, Bahrain, Yemen, Lebanon, Qatar, Sharjah, Abu Dhabi, Dubai and Oman. In the same year, Chartered Bank purchased the Ionian Bank's interests in Cyprus.
The bank operated from various City of London addresses: 1852 first two meetings of directors at 8 Austin Friars; November 1852 offices acquired at 21 Moorgate. December 1853 - 1855 rented offices at South Sea House, Threadneedle Street. 1855 rented offices at 34 Gresham House, Old Broad Street. June 1857 - 1866 rented offices in the City Bank building at Threadneedle Street. 1867 Former Hatton Court building on Threadneedle Street. In 1909 they moved into newly built premises on the former site of Crosby Hall where they were still at the time of the merger with Chartered Bank in 1969.
For further information on the history of the bank see Sir Compton Mackenzie, Realms of silver: one hundred years of banking in the East (London, 1954) and Geoffrey Jones, British multinational banking 1830-1990 (Oxford, 1993).
The first branch to be opened was in Calcutta [Kolkata], India in 1858. The branches were initially established with a manager and an accountant with a number of clerks, all answerable to head office in London. The aim of the Directors was to open a network of branches across India and the Far East, especially in major ports and gradually the network was expanded to achieve this goal. By 1969 there were over 130 branches and agencies in 17 different countries.
E D Sassoon Banking Company Limited was established as a subsidiary of E D Sassoon and Company Limited. It was first incorporated in Hong Kong in 1928 to coordinate the trading interests of the Sassoon family, In March 1930 E D Sassoon and Company Limited's new headquarters were opened at Sassoon House, Shanghai. In order to facilitate the investment of Bombay assets into Shanghai, E D Sassoon Banking Company Limited, was registered in 1930 (however the parent company had been handling private banking functions since 1921). The head office of the new company was in Hong Kong with branches in the City of London and Manchester. The firm continued to invest in property, choosing to purchase large hotels and office blocks. Despite successful production rates, the firm decided to dispose of the mills in Bombay after the Second World War, fearing problems as foreign owners once independence was granted. In May 1949, Shanghai and Hong Kong were under control of communist regimes and seemed unhealthy places for the company's head office so it was transferred to Nassau in the Bahamas in 1950. It is thought that Nassau was chosen because there were no forms of personal or corporation tax in place and Sir Victor Sassoon planned to live there, until his death in 1961.
E D Sassoon Banking Company Limited invested in a number of companies which it operated as subsidiaries including Far Eastern Nominees Limited and Arnhold and Company Limited.
In 1967 the structure of the company was enlarged to admit new shareholders with the head office later moving to London. Major Desmond Fitzgerald, a cousin of Sir Victor Sassoon, became chairman. The company offered a full range of banking facilities including current and deposit accounts, loans and overdrafts, acceptance credits, export finance, foreign currency exchange and other financial services and advice. Also in 1967, the Nassau office became a wholly owned subsidiary of E D Sassoon Banking Company Limited under the title of E D Sassoon Banking International Limited, Nassau, Bahamas and offered services such as company management by incorporating Bahamian holding or operating companies and trust administration.
In 1972 E D Sassoon Banking Company Limited merged with Wallace Brothers and Company (Holdings) Limited and the name of the company was changed to Wallace Brothers Sassoon Bank Limited, with registered offices at 4 Crosby Square, City of London. The name was later changed to Wallace Brothers Bank Limited in November 1974, continuing to operate from Crosby Square. E D Sassoon and Company Limited continued to exist as a separate company from 1972 and later became DK Investments (Crosby Square) Limited in 1978.
E D Sassoon Banking Company Limited's registered offices were initially Sassoon House, Hong Kong and Gloucester Building, Victoria, Hong Kong (1930-1950). In 1950 the company was incorporated in the Bahamas and the new registered offices became Fenby House, Shirley Street, Nassau, Island of New Providence, Bahamas (1950-1963) and later 324 Bay Street, Nassau, Island of New Providence, Bahamas (1963-1969).
Most of the company's operations were controlled by the London branch offices. These were based at Stone House, 140 Bishopsgate, London (1930 - 1934), 85 Gracechurch Street, City of London (1934 - 1955), 37 Upper Brook Street, Westminster (1955-1969) and Winchester House, 100 Old Broad Street, City of London (1969-1972). There were also branches at 58 Whitworth Street, Manchester and Holland House, Hong Kong.
The collection contains a pamphlet on the company's background entitled 'A century of service to finance and trade' (CLC/B/207/CH09/01/001) along with an earlier draft by Major Derek Fitzgerald which contains more detailed historical information about the company (CLC/B/207/CH09/01/002).
Geographical range:
London, India and China, Gulf ports, Iraq and Japan.
Far Eastern Nominees (England) Limited, later Far Eastern Nominees (Nassau, Bahamas) Limited, was a wholly owned subsidiary of E D Sassoon Banking Company Limited. It was incorporated on 1936 Oct 3. Registered offices at 85 Gracechurch St, London, EC3 (1936-1955) and later 37 Upper Brook Street, London W1 (1955-19--).
The P & O Banking Corporation Limited was established in 1920 by James MacKay (later Lord Inchcape) to develop the private banking business of the P & O Company. Under MacKay's stewardship (as Managing Director from 1914 and Chairman from 1915) the P & O had expanded rapidly, acquiring the British India Company amongst many others, and the bank was to be both a commercial venture and a device to manage the financial interests of the business.
On its establishment the Corporation acquired Allahabad Bank in India and opened offices in Colombo, Shanghai, Hong Kong, Singapore and Canton (now Guangzhou). Allahabad Bank was always operated as a subsidiary, and wasn’t absorbed into the central organisation of the P & O Banking Corporation. The Corporation later expanded further in India under its own name, in Calicut (now Kozhikode in Kerala), Bombay and Madras (and the surrounding region). Lloyds and National Provincial bought shares in the new Corporation, reflecting the expectancy that a bank backed by the P & O would be a success.
In 1927 the Chartered Bank of India, China and Asia acquired seventy five percent of the Corporation's shares, effectively rendering the P & O Banking Corporation a subsidiary. In 1928 Chartered took over most of the remaining shareholding, and many of its Directors were elected to the Board of the Corporation in the subsequent years.
The P & O continued as a subsidiary company of the Chartered Bank for a further decade, though the Chartered Bank became dissatisfied with its performance. While the P & O had some merits as an institution (especially the business that came from the associated companies of the wider P & O group, and the success of Allahabad Bank in northern India), as a latecomer in international banking it often had to take on clients that existing institutions had refused. Furthermore many of the Corporation’s branches existed in locations (such as Shanghai, Hong Kong and Bombay) that were served by other banks, including the Chartered Bank. With the down turn of the world economy in the 1930s the P & O was operating in a reduced market place as a direct competitor to the branches of its parent company for considerably reduced profit, an untenable position for the Corporation and its owner.
The Chartered Bank of India, China and Australia took the decision to liquidate The P & O Banking Corporation in 1938. The liquidation date was set for 31 January 1939, when the bank's branches closed and the liquid assets were transferred to the Chartered Bank (it appears that they were transferred to the nearest branch of the Chartered Bank in many cases).
The Corporation's headquarters in Leadenhall Street, London, remained open as a branch of Chartered, and appears to have handled the final breaking up of the bank's assets, and the longer term issues around the dissolution of the Corporation.
P & O Banking Corporation Nominees (the subsidiary that handled the shares owned by the Bank) continued in name until the late 1960s. Allahabad Bank continued to be run separately as a subsidiary of Chartered Bank, as the nature of its business kept it as a viable business in its own right. It was nationalised by the Indian Government in 1969, and still exists as a private body.
Geographical range:
India, Sri Lanka, China and Singapore
In 1897 the Bank of British West Africa established itself at Freetown, Sierra Leone. In 1957 the bank changed its name to the Bank of West Africa. In 1965 the bank merged with Standard Bank Limited which in 1971 voluntarily incorporated the business as the Standard Bank of Sierra Leone Limited as a wholly-owned subsidiary company of Standard Bank, later to be a wholly owned subsidary of Standard Chartered Banking Group following the 1969 merger of Standard and Chartered Bank.
FOUNDATION AND NAME CHANGES
On 3 June 1857 a prospectus committee met in Port Elizabeth, led by John Paterson, to draft a prospectus for a new bank in the region. This early prospectus was reviewed over the next two years to create a vision of a bank which would be established in Port Elizabeth and which would grow through the acquisition of as many of the existing unitary banks in the region with a head office in London. In 1859 Paterson travelled to London to promote interest in the venture. On 15 October 1862 'The Standard Bank of British South Africa Limited' was incorporated and the first formal meeting of the inaugural board of directors was held on the 18 October 1862. The bank commenced buiness on 20 February 1863 in premises in Port Elizabeth - formerly offices of the Commercial Bank of Port Elizabeth with which the Standard had merged, the branch under the management of James Tudhope, also formerly of the Commercial Bank. In reflection of the growth of the network of branches and a change in the articles of association to allow the bank to operate outside of British controlled areas in 1881 the name of the bank was changed to 'The Standard Bank of South Africa Limited'. In 1962 the name was changed to 'The Standard Bank Limited' for operations outside South Africa with 'The Standard Bank of South Africa Limited' continuing to run as a wholly owned subsidary in South Africa.
BRANCH EXPANSION
The bank expanded its network with branches across South, East and Central Africa responding to the economic development and growth of the regions. From the first branch in Port Elizabeth the bank expanded quickly across Cape Province and by 4 January 1864 the first branch at Cape Town had opened. Outside of Cape Province the bank expanded into Natal [South Africa] opening the first branch in the region at Durban on 22 June 1863 (Manager James Alexander). The first branch in the Orange Free State opened at Bloemfontein in October 1863 (closed March 1865, reopened 26 March 1900). The Standard Bank was the first to open on the Diamond Fields in Griqua Land West [South Africa] with a branch at Klipdrift [Barkley West] opening on 12 November 1870 and the first on the Gold Fields in Transvaal with a branches at Potchefstroom and Pretoria opening in May 1877 (Manager Hugh Crawford); On 16 January 1890 the bank opened in Bechuanaland [Botswana] with a branch at Mafeking. In Rhodesia the first branch at Salisbury opened on 29 July 1892 (Manager John Boyne) and a branch opening on 4 May 1894 at Bulawayo was the first in the Matebeleland district (Manager Alexander Thain). A branch was opened in Portuguese East Africa [Mozambique] on 20 August 1894 at Delagoa Bay, Lourenco Marques. The first branch in Basutoland [Kingdom of Lesotho] opened in 1901. On 29 April 1901 the bank opened in Nyasaland [Malawi] with a branch at Blantyre (Manager H T Lewis); In Northern Rhodesia [Zambia] the bank opened at Kalomo in March 1906. In January 1911 the first branches in British East Africa [Kenya] were opened at Nairobi and Mombassa by J. J. Toogood, closely followed by further East African expansion with a branch opening on 20 August 1912 by J J Swanson in Uganda at Kampala. In August 1915 the bank opened branches in the former German territories in South West Africa [Namibia] at Luderitzbutch, Swakopmund and Windhoek and the former German East Africa [Tanzania] opening in 1916 at Dar-es -Salaam. Outside Africa agencies were opened at Hamburg in Germany (15 November 1904) and in New York (1 February 1905); a branch in the City of London was opened at London Wall and on 2 December 1918 a further branch was opened in the London West End at Northumberland Avenue.
PREMISES
In the City of London the bank first had premises in Moorgate Street and then at 101 Cannon Street before acquiring permanent premises in 1867 at 10 Clement's Lane.
In Africa the offices and operations were established at Port Elizabeth [South Africa] in 1863; In 1883 on the appointment of Joint General Managers a second administrative head office was opened at Cape Town. On 31 December 1885 the Port Elizabeth headquarters were closed and all administration transferred to Cape Town. In 1952 headquarters moved to Pretoria and in 1959 moved again to Johannesburg.
In Africa daily operations were managed from the administrative head quarters. Robert Stewart (General Manager 1864 - 1875) increased headquarter control over the early network of branches and erradicated the initial system of local boards of directors and local autonomy instead making himself the conduit implementing all executive orders issued from London and ensuing all regions were answerable to the South African General Manager. Decentralisation of Cape authority began in 1926 when the East African Superintendent began reporting direct to London rather than via the Cape and continued in the 1950s when, in 1953 a number of local boards were established. In 1956 the local board for Rhodesia and Nyasaland began to report direct to London. In 1962 the banks operations in South Africa were transferred to a subsidiary Company retaining the name, 'Standard Bank of South Africa Limited' whilst across the rest of Africa the name was changed simply to 'Standard Bank Limited'
ACQUISITIONS
The progressive expansion of the bank had been aided by its acquisitions of a number of local banks. In 1863 the Standard acquired the Commercial Bank of Port Elizabeth, Colesberg Bank, British Kaffrarian Bank and the Beaufort West Bank. In 1864 the Fort Beaufort and Victoria Bank was acquired. The 1870s saw the acquisition of the Albert Bank (1874), the Swellendam Bank (1877), The London and South Africa Bank (1877), the Caledon Agricultural Bank (1878) and the Malmesbury Agricultural and Commerical Bank (1878). In 1890 the Wellington Bank was acquired, in 1920 the African Banking Corporation was acquired and in 1966 the bank merged with the Bank of West Africa. In 1969 the Standard Bank merged with the Chartered Bank to create the Standard Chartered Banking Group Limited.
This firm of Russia merchants, known from 1810 as Stratton, Gibson and Fuller, had premises at 3 Russia Court, Leadenhall Street, (to 1801) and 9 Great St Helens (from 1802).
The firm was principally concerned with the import and sale of linen and other commodities from St Petersburg, Russia, to London. They also acted as London brokers to some provincial merchants, which involved them in coastal trade, and arranged insurance against fire, loss at sea and capture.
The roots of the firm can be traced in trade directories back at least to 1754, to the partnership of Stratton and Rodbard, linen drapers and merchants of Aldgate Within (to ca. 1758), Leadenhall Street (from ca. 1760) and 3 Russia Court, Leadenhall Street (from ca. 1768). The firm was subsequently styled as Stratton and Pieschall (1782-90), Stratton, Gibson and Schonberg (1792-97), Stratton and Gibson (1798-1810) and Stratton, Gibson and Fuller (1810-ca.1822). The firm ceases to appear in trade directories after 1822.
This company appears to have traded chiefly as American merchants. It had premises at the following addresses: Tokenhouse Yard, Lothbury (1842-52); Old Jewry (1853-66); and Cullum Street (1867-9).
According to the articles, John Bates had done business 'for several years' with Thomas Young as his clerk. Nothing more is known about John Bates. Thomas Young obtained his broker's bond on 27 January 1761, where he is described as citizen and clothworker, of Serjeants' Inn and Garraway's Coffee House.
The firm of Bruce de Ponthieu and Company, merchants and East India agents, of 71 Old Broad Street, became Bruce de Ponthieu Bazett and Company (1805-12); Bruce Bazett and Company (1813-16); Bazett Farquhar Crawford and Company (1816-28); and Bazett Colvin Crawford and Company (1829-33).
Brash Brothers first appear in a commercial directory in 1892, as a partnership, at 9 and 11 Fenchurch Avenue and 13 St Mary Axe. By 1918, they were at 38 Mincing Lane. From 1923 they were at 23 Rood Lane, and 1935-69 at 13 Rood Lane. They also had various warehouses in the London suburbs at various dates. Brash Brothers appear to have become a limited company, Brash Brothers (Tea) Limited, circa 1940. In 1996 the firm was taken over and no corporate records are known to survive.