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Captain (later Colonel Sir) Buchanan Scott was born in 1850. A graduate of the Royal Military Academy, he joined the India service in 1871, specialising in railroads and transportation. By 1888 he had risen to the rank of Captain in the Royal Engineers. In this year, he was given two years' special leave of absence by the British Government of India to take up an appointment as general manager of the Mexican Land and Colonization Company Ltd, administering an area of land the size of Scotland. In 1890 he returned to work in India, becoming Senior Mint Master. He died in 1937.
The Mexican Land and Colonization Company was formed in 1889 to purchase the business of the International Company of Mexico, an American company founded in 1885 to develop the Baja California region. Both companies had premises at 48 Finsbury Circus.