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it to recover. Gilmans was taken over by Duncar, Paterson of Perth, Western Australia, in 1917, and converted into a private limited company incorporated in Hong Kong. It suffered, however, during the depression in the 1930s, although the backing of the Hong Kong and Shanghai Bank helped it to expand and prosper especially up to the Japanese invasion in 1941.
Gibb Livingston
Gibb Livingston, which like Gilmans may be seen as a smaller yet similar version of Dodwells, is the second oldest (after Jardines) trading firm in Hong Kong. It was founded by two Scotsmen, Thomas Augustus Gibb and William Potter Livingston, in Canton, in 1836. There it occupied one building which served as an office, a warehouse, and a residence. The firm imported English cottons and woollens and exported tea and silk. Silver bullion was used as payment. The two founders soon started to diversify into such fields as shirtings, velveteen, leather, and tin plate, and acted as agents for a large number of sailing ships. At an early date, four Gibbs worked in the firm. Branches were opened in Hong Kong (1841), Amoy, and Shanghai. In addition to the import-export trade, Gibb Livingston acted as agents for Ben Line steamships, although, unlike Dodwells, it also acquired its own tea clippers. Then, in 1899, it purchased a fleet of steamers which sailed as the Gibb Line.
Gibb Livingston is said to have diversified earlier and more successfully than Gilmans. By 1908, it was one of the most important business houses in Hong Kong. Here, as in Shanghai, it specialised in shipping, and, later, in insurance. At the turn of the century, it had interests in Hong Kong Electric Company, Shanghai Land Investment Company, and a number of other firms. It also branched out into engineering and manufacturing. In 1921, Gibb Livingston was acquired by Gray, David and Company.
Jardine's and Swire's are by no means the only old British firms in the Far East. Dodwell's, Gilmans, and Gibb Livingston have also been trading here for many years, although now all three are within the Inchcape Group which was formed as recently as 1958.
Caldbeck, Macgregor and Company
A fourth firm in the Inchcape fold, Caldbeck, Macgregor and Company