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and business in Hong Kong has been neglected. Nonetheless, over the past decade some hongs have commissioned researchers and authors to compile company histories. A number of these are listed in the bibliography.
Earlier Days
Historically, overseas businessmen have been permitted only limited contact with locals in China. In the eighteenth and early nineteenth centuries Westerners were only authorised to reside in Canton during the trading season, from October to May. Emperors confined all foreign trade there, as far from Peking as possible, keeping 'unpleasant things at a distance.' Foreigners were forced to maintain their base in the Portuguese city of Macau (established 1557).
These restrictions caused great inconvenience to merchants. Captain Charles Elliot wrote, on April 6th 1839:
"There can be neither safety nor honour for either government until Her Majesty's flag flies on these coasts in a secure position."
It was considered necessary to have a colony with a fine harbour, where Europeans could live, work and trade in peace and security. The Union Jack was raised at Possession Point, on Hong Kong Island, on January 26, 1841.
Hong Kong was established specifically to facilitate trade. Not surprisingly, therefore, the authorities depended a great deal upon the support of business houses in the early days of the colony. Some of these early trading houses are still trading here today.
By the end of 1843 there were 12 large British firms in Hong Kong, ten British merchants trading on a smaller scale, and about six Indian companies. The following year there were said to be about 100 foreign firms doing business, half of which were British and about one-quarter Indian or Parsee. Russells, an American firm, had six partners and eight griffins (assistants). Dent and Company (British) five partners and eight assistants, and D. and M. Rustomjee (Parsee) fifteen partners. Jardine Matheson employed
220
and business in Hong Kong has been neglected. Nonetheless, over the past decade some hongs have commissioned researchers and authors to compile company histories. A number of these are listed in the bibliography.
Earlier Days
Historically, overseas businessmen have been permitted only limited contact with locals in China. In the eighteenth and early nineteenth centuries Westerners were only authorised to reside in Canton during the trading season, from October to May. Emperors confined all foreign trade there, as far from Peking as possible. keeping 'unpleasant things at a distance. Foreigners were forced to maintain their base in the Portuguese city of Macau (established 1557).
These restrictions caused great inconvenience to merchants. Captain Charles Elliot wrote, on April 6th 1839:
"There can be neither safety nor honour for either government until Her Majesty's flag flies on these coasts in a secure position."
It was considered necessary to have a colony with a fine harbour, where Europeans could live, work and trade in peace and security. The Union Jack was raised at Possession Point, on Hong Kong Island, on January 26, 1841.
Hong Kong was established specifically to facilitate trade. Not surprisingly, therefore, the authorities depended a great deal upon the support of business houses in the early days of the colony. Some of these early trading houses are still trading here today.
By the end of 1843 there were 12 large British firms in Hong Kong. ten British merchants trading on a smaller scale, and about six Indian companies. The following year there were said to be about 100 foreign firms doing business, half of which were British and about one-quarter Indian or Parsee. Russells, an American firm, had six partners and eight griffins (assistants). Dent and Company (British) five partners and eight assistants, and D. and M. Rustomjee (Parsee) fifteen partners. Jardine Matheson employed
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