London Company

“ Though not incorporated, the patentees were formed into two companies, the London Company, so called because its members were mainly London merchants, and the Plymouth Company, consisting mainly of merchants from Plymouth and the west of England. Each company was permitted to establish one colony having a jurisdiction one hundred miles along the coast and one hundred miles inland ”

“ One is, that a member of such a Company feels himself to be connected by a direct link with the History of England, of which these Companies are part. Their destinies have been shaped and guided by men, of whom many have done good service to their country, and who stand towards their successors of later date in the position of honoured and revered ancestors, to be followed and imitated so far as change of circumstances permits. ”

“ In the same way in London, I suppose, the various trades had their rights and could prevent foreigners from competing, except they resided within the liberties. Of course there was a Stationers’ Company in London in the fifteenth century, though unfortunately most of the records relating to it have disappeared, and it would protect its own members. ”

“ In all appearance, the Company will carry every thing before them; for we see that, notwithstanding what has been said against their Stock by Sir Richard Steele and others, that people are as eager for it as if nothing had been said against it. Those fine writers might as well have attempted to stop the tide under London-bridge, as to stop the people from buying or subscribing in that Stock: [120] as to the first of these, they know something of what they do, but the Annuitants run blindfold into the hands of the Directors, as if they should say: 'Gentlemen, We have so many 1000l. or 100l. ”

“ The Company is incorporated as the “Master, Wardens, and Commonalty of the Freemen of the Mystery of Plumbing of the City of London,” for the better ordering, rule, and government of the men of the mystery and Company aforesaid, and of all those who then exercised and used or thereafter should exercise and use the art and mystery of plumbing, or the materials, works, merchandises, or things whatsoever to the said mystery relating, and for the utility, advantage, and relief of the good and honest, and for the terror and correction of the evil, deceitful, and dishonest. ”

“ The citizens of London were deeply interested in the bill which was introduced for this purpose, for although it little affected the livery companies, it touched very closely the interests of those companies which were incorporated for the purpose of trading with foreign countries, such as that of the Merchant Adventurers, the Levant Company, the Russia Company, and others. These companies had been formed at a time when few individuals were sufficiently wealthy to bear the risk of distant enterprises. ”

“ In London, an enterprising citizen could pass freely from one occupation to another. Borrowing money for a new enterprise was common. Industrial suburbs grew up around London and some towns became known as specialists in certain industries. The building crafts in the towns often joined together into one company, e.g. wrights, carpenters, slaters, and sawyers, or joiners, turners, carvers, bricklayers, tilers, wallers, plasterers, and paviors. These companies included small contractors, independent masters, and journeymen. ”

“ Since this is the just prospect, which the adoption of the conditions proposed by Government as the terms for the renewal of the Company's Charter, opens to our view; since the share which the London Merchants may take in the enlargement of the trade, would not fail to supply employment for all that industry, which the Court of Directors assert will be interrupted and suspended; while, at the same time, the extension of that advantage [Pg 41] will create new sources of industry in various parts of the kingdom, without impairing or diminishing that of London ”

“ Besides the innumerable arrangements necessary for the conveyance along their rails of the number of waggon-loads of goods we have stated, the Company undertake the vexatious and intricate business of collecting and delivering these goods from and to all parts of London, as also throughout the various towns on their line, excepting Liverpool, where the collection and delivery of goods is otherwise arranged. The number of letters on business received by the branch of this department at Camden Station only, averages 300 per day. ”

“ The idea of London as the centre of the world's commerce stimulated him in a remarkable manner, and in 1852 he obtained a position in The Fore Street Warehouse Company, in the City of London. His capital then was 10l.; in ten years he had amassed 700l., and with its aid he opened a small shop with two female assistants as a fancy draper at 31 Westbourne Grove (11 March 1863) . ”

“ Crafts fought each other. There was a street battle with much bloodshed between the goldsmiths and the parmenters and between the tailors and the cordwainers in 1267 in London. There was also a major fight between the goldsmiths and the tailors in 1268. The Parish Clerks' Company was chartered in 1233.
The citizens of London had a common seal for the city. London merchants traveled throughout the nation with goods to sell exempt from tolls. Most of the London aldermen were woolmongers, vintners, skinners, and grocers by turns or carried on all these branches of commerce at once. ”

“ In the sixteenth and seventeenth centuries the Company contained many men of distinction. One of the more conspicuous of these was Sir Andrew Judd, who was Master of the Company in 1533, and on five subsequent occasions. ”

“ The world, and ours to choose from! I'll sell out. Why, we're rich! The Waldworth Syndicate will give me half a million for what's left in the ground, and I've got twice as much in the dumps and with the P. C. Company. We'll go to the Fair in Paris in 1900. We'll go to Jerusalem, if you say so. We'll buy an Italian palace, and you can play Cleopatra to your heart's content. No, you shall be Lucretia, Acte, or anybody your little heart sees fit to become. ”

“ The Company appointed brokers of mercery wares, under the first charter to the City by Edward II., by which it was declared that there should be no brokers in the City but those chosen by the merchants in the mysteries in which they exercised their office, and under the charter of Edward III., which declared that none should exercise the office of broker in foreign merchandise in London unless chosen by the 34merchants of the mysteries in which they should act. ”

“ The wars advanced trade; the wars pushed forward our territories; our increased trade paid for the wars; the wars provided occupation for younger sons.
ABOVE BRIDGE
By this time, too, the companies were at their richest; their charities were at their fullest; their banquets and functions were most lavish and splendid.
Take the rich Company of Haberdashers alone for its benefactions. This company maintained two free-schools in London and three in the country; two almshouses in London and two in the country ”

“ Numerous entries of very ancient dates respecting this Company are to be seen in the journals and repertories of the Corporation of London. They principally relate to differences between this Company and the Bowyers, returns of the number of the Livery, and the employment of foreigners. The Company has not a common seal. The Wardens and Court of Assistants are the ruling body, and they fill up their vacancies as they occur.
The Company is now very small. There are only 16 in the Livery; their Corporate Income is no 442more than £100; and they have no Hall. ”

“ This Company carry on a considerable trade to the above places by a joint stock, and have settled several small factories, to which the natives repair with their rich furs, skins, and other commodities of the country, which they exchange for those of England. ”

“ Every company which can by any possible means find a way to the capital does so, and strives to provide the route which will be most attractive to the public. To do this the majority of the companies must, of necessity, make use of the lines of the great companies having their termini in London. Only imagine the number of branch lines, junctions, and sidings, this must involve ”

“ In 1657 the Muscovy Company, renewed its charter for trade in Russia and established a New General Stock. If a man bought a share, he bought freedom of the company. An annual dividend was declared from the annual profits.
Commercial men regularly kept accounts with bankers. Merchants used division to apportion profits or losses to the parties whose capital was involved. Simple and compound interest were used. The concept of contract became a familiar one.
Regular private bankers of London emerged from the Goldsmiths from 1640 to 1675. ”

“ That the persons trading or intending to trade to Africa, should pay to the Chamberlain of London, the Clerk of the Merchants-hall in Bristol, or the Town Clerk of Liverpool, 40s. each for the freedom of the new company. ”

“ The following entry refers to this occasion:—
“Paid for a dynner, April Vth, for the Lord Generall Moncke, the Councell of State, and the Feild Officers
0476 12 09” In May following the Company provided £504 towards a present from the City to the King and the Dukes of York and Gloucester: and various other sums were paid in connection with the reception of Charles II, including “the interteynement of his Matie to a Feast att Guildehall.” ”

“ A Scotch half-breed took charge of him and his mates, and in company with a dozen other dog-teams he started back over the weary trail to Dawson. It was no light running now, nor record time, but heavy toil each day, with a heavy load behind; for this was the mail train, carrying word from the world to the men who sought gold under the shadow of the Pole. ”

“ “Well,” said our engineer ruefully as we took our seats to return once more to London, “it has been a pretty business for me! I have lost my thumb and I have lost a fifty-guinea fee, and what have I gained?”
“Experience,” said Holmes, laughing. “Indirectly it may be of value, you know; you have only to put it into words to gain the reputation of being excellent company for the remainder of your existence.” ”

“ No great work is done and no enterprise attempted but the fact is known to some one in London. In spite of the great growth and wealth of America, the industry and success of Germany, the thrift and saving of France, the financial center of the world is in London, and other bourses and boards of trade follow the lead or are in fact only branches of the English concern. Every active financial institution in the United States or elsewhere has its London connection [240] through which it draws when it engages in international business or when it goes out of the local sphere of influence. ”

“ Yet the very patents sought and granted for exclusive trades and manufactures, though tending to diminish commerce by fettering it, are proofs of demand and consumption, and of the industrial energy of the age. These monopolies were bestowed on courtiers and noblemen, but still, no doubt, some of the citizens of London were employed in their management. Of the wealth yielded by commerce, in spite of these restrictions, ample proof was given in the supplies yielded repeatedly to the exorbitant demands of the crown. ”

“ If in the wide sweep of London trade there be 1000 persons, including the market salesmen, the retail butchers, the carriers, &c., so circumstanced, then 4000 men are casually employed, and for a very brief time. ”

“ The large scale of London trade promoted the specialization of the manufacturer versus the merchant versus the shipper. Merchants had enough wealth to make loans to the government or for new commercial enterprises. Local reputation on general, depended upon a combination of wealth, trustworthiness of character, and public spirit; it rose and fell with business success. Some London merchants were knighted by the King. Many bought country estates and turned themselves into gentry. ”

“ City Companies.—In nothing is the past history of the metropolis, the memory of Old London, kept alive in a more remarkable way than by the City Companies, or Trading Guilds, which are still very numerous. All were established with a good purpose, and all rendered service in their day; but at the present time few have any important duties to fulfil. The age for such things is nearly past; but the companies have revenues which none but themselves can touch; and out of these revenues many excellent charities are supported. ”

“ As the City of London waxed mighty and opulent, proportionate was the increase of the wealth and importance of its component parts. The humble guilds or crafts gradually developed themselves into large and influential trading companies, to belong to which was deemed an honour not beneath the consideration of royalty. ”

“ The whole business, when regarded in the light of history, appears farcical and absurd, but the danger to the life of the corporations appeared very real and tremendous to the good citizens of London in the year 1684. ”

“ The London firm usually carried a large spot stock. This was poured into the syndicate in parcels, at advancing prices. Then all the little markets on the Continent were scoured and every ton available brought to London and disposed of in the same way.
The agent of our friends, in the producing market, bought large quantities daily. It was a six-weeks' voyage to London. In the interim there would be a heavy advance in price and as soon as the steamer arrived the syndicate had to buy these lots. ”