JARDINE MATHESON & CO. (contd.)
"East Point, where the offices and house are, is the most beautiful spot on the Island. It is about two miles from the town situated at the head of the Bay, and has high hills surrounding it except on the sea side, but even here the high hills of the mainland can be distinctly seen. There is a very nice short walk near East Point called the Happy Valley, round which is the Race Course where the horses are taken in the morning for exercise. There is some excitement there in the mornings now, as the Races take place on the 19th instant (February) and two following days, and the horses that are entered to run are trained for about an hour every morning, and of course everyone makes his way to the Course to see how the horses shape, and to make his betting book accordingly."
Incidentally, it is worth noting that Jardine's have been associated with racing in the Colony since the early times, and their stables at East Point date back a great many years.
Several of the old commercial firms in the Colony have been associated either directly or through predecessors with the early history of Hongkong. It is hoped to give short histories of these firms as material comes to hand, and to-day I have pleasure in publishing a resume of the founding and growth of Jardine, Matheson & Co., Ltd., already briefly referred to in a previous article (see 2-8-33). A few further notes in connexion with this old Hong Kong will be given to-morrow. For much of the information available, I am indebted to a member of the staff of Jardine's, who has kindly placed some valuable notes at my disposal.
The founder of Jardine, Matheson & Co. was Dr. William Jardine, at one time an officer in the service of the Honorable East India Company. Associated with him from its earliest days were Messrs. James Matheson (afterwards Sir James Matheson, Bart., of the Lews) and Hollingworth Magniac.
Dr. Jardine was a southern Scot, whose forebears for many generations had resided in Annandale, Dumfriesshire. Mr. James Matheson hailed from the west coast of Ross-shire, where his family had long been established and owned property. Mr. Magniac was the descendant of a Swiss merchant who had settled in Macao towards the close of the eighteenth century, obtaining employment there from an old established firm named Beale and Read, in which concern he became a partner, the firm's name being then changed to Beale and Magniac, and later to Magniac and Co.
In the early days of this business connexion, Dr. Jardine made trading voyages between India and China, Mr. James Matheson remaining in India to attend to the disposal of produce brought by his friend, Dr. Jardine, from the Far East; whilst in Macao and Canton, Mr. Magniac acted as agent for the sale of goods imported by the Doctor from India and the Straits. As time went on the business carried on by these gentlemen increased so considerably that in 1827 Dr. Jardine and Mr. Matheson found it necessary to take up residence permanently in Macao, moving up to Canton in the season, as was the custom in those early days, and there conducting their business, through the medium of the "Licensed" house of Magniac & Co., in which both became interested.
In 1832 the trading monopoly of the East India Company came to an end, the firm of Magniac & Co. was dissolved, and the business thereafter was carried on by the three above-named gentlemen under the style of Jardine, Matheson and Company.
Dr. Jardine left China in 1838, the business initiated by him having by this time assumed vast proportions. His commercial operations were conducted throughout with sagacity and judgment, and he was a man of great strength of character, and of unbounded generosity. He was the shipper of the first cargo of "free teas" to London on the expiry of the close monopoly of the East India Company, which had lasted two hundred years.
The "Hong" merchants with whom, chiefly, he transacted his business were "Mowqua" and the "Conseequa", though old books still in the possession of the firm show that large transactions in tea and silk were put through also with the well-known "hong" merchant "Howqua". One of the firm's chief constituents in India was Jamsetjee Jeejeebhoy, of Bombay, who later became the celebrated Parsee Baronet. His business with Jardine Matheson and Co. was on a colossal scale.
JARDINE MATHESON & CO. (contd.)
کچھ
"East Point, where the offices and house are, is the most beautiful spot on the Island. It is about two miles from the town situated at the head of the Bay, and has high hills surrounding it except on the sea side, but even here There is a very nice the high hills of the mainland can be distinctly seen. short walk near East Point called the Happy Valley, round which is the Race Course where the horses are taken in the morning for exercise. There is some excitement there in the mornings now, as the Races take place on the 19th instant (February) and two following days, and the horses that are entered to run are trained for about an hour every morning, and of course everyone makes his way to the Course to see how the horses shape, and to make his betting book accordingly."
Incidentally, it is worth noting that Jardine's have been associated with racing in the Colony since the early times, and their stables at East Point date back a great many years.
-
Several of the old commercial firms in the Colony have been associated either directly or through predecessors with the early history of Hongkong. It is hoped to give short histories of these firms as material comes to hand, and te-! day I have pleasure in publishing a resume of the founding and growth of Jardine, Matheson & Co., Ltd., already briefly referred to in a previous article (see 2-8-33). A few further notes in connexion with this old Hong will be given to-morrow. For much of the information available, I am indebted to a member of the staff of Jardine's, who has kindly placed some valuable notes at my disposal.
The founder of Jardine, Matheson & Co. was Dr. William Jardine, at one time an officer in the service of the Honorable East India Company. Associated with him from its earliest days were Messrs. James Matheson (afterwards Sir James Matheson, Bart., of the Lews) and Hollingworth Magniac.
Dr. Jardine was a southern Scot, whose forebears for many generations had resided in Annandale, Dumbrieshire. Mr. James Matheson hailed from the west coast of Rossshire, where his family had long been established and owned property. Mr. Magniac was the descendant of a Swiss merchant who had settled in Macao towards the close of the eighteenth century, obtaining employment there from an old established firm named Beale and Read, in which concern he became a partner, the firm's name being then changed to Beale and Magniac, and later to Magniac and Co.
In the early days of this business connexion, Dr. Jardine made trading voyages between India and China, Mr. James Matheson remaining in India to attend to the disposal of produce brought by his friend, Dr. Jardine, from the Far East; whilst in Macao and Canton, Mr. Magniac acted as agent for the sale of goods imported by the Doctor from India and the Straits. As time went on the business carried on by these gentlemen increased so considerably that in 1827 Dr. Jardine and Mr. Matheson found it necessary to take up residence permanently in Macao, moving up to Canton in the season, as was the custom in those early days, and there conducting their business, through the medium of the "Licensed" house of Magniac & Co., in which both became interested.
In 1832 the trading monopoly of the East India Company came to an end, the firm of Magniac & Co. was dissolved, and the business thereafter was carried on by the three above-named gentlemen under the style of Jardine, Matheson and Company.
***
Dr. Jardine left China in 1838, the business initiated by him having by this time assumed vast proportions. His commercial operations were conducted through- out with sagacity and judgment, and he was a man of great strength of character, and of unbounded generosity. He was the shipper of the first cargo of "free teas" to London on the expiry of the close monopoly of the East India Company, which had lasted two hundred years.
The "Hong" merchants with whom, chiefly, he transacted his business were "Mowqua" and the "Conseequa", though old books still in the possession of the firm show that large transactions in tea and silk were put through also with the well-known "hong" merchant "Howqua". One of the firm's chief constituents in India was Jamsetjee Jeejeebhoy, of Bombay, who later became the celebrated Parsee Baronet. His business with Jardine Matheson and Co. was on a colossal scale.
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