OLD LONDON FIRMS.

Samoa Times and South Sea Gazette, Issue 39, 29 June 1878, Page 3

OLD LONDON FIRMS.

Some very curious aud interesting statistics have been furnished bv Mr. R. Seyd, a well-known contributor to the Economist, on the subject of mercantile ami other firms engaged in business in the city of London. It appears that in the beginning of the present year there existed in the city no fewer than 11,449 firms engaged in wholesale business, exclusive of stock exchange, publishing, retail, and small industrial trades, etc. The wholesale businesses include banking, financial, insurance, and other firms. Incredible as the statement may seem, tho date of establishment of one of the existing firms gues back to a period before IGOO. The original principals of this firm were contemporaries of Shakespeare and Bacon, and it is strange indeed, that t!i>nigh England has witnessed two revolutions since the foundation of this firm, its stability and continuance base not been affected. The firm in question is that of Messrs. Martin and Co., established in the year 1555, or upwards of 320 yean ago. Two other linns —those of Messrs. Child aud (Jo., and Messrs. Goslings aud Shaipe—were established before 1650. Tho Hank of England commenced business in 1694, having been proceeded some years by Messrs. lloares, Thompson, Hankey and Co., Coutts and Co., Barnetts, Hoares, and Co., and the Hudson's Hay Company. Of merchants, Messrs. Baring Brothers and Co., was founded in 1703, and of wine merchants, tho firm of Hedges and Butler was established in 1667. The firms of warehousemen appear to be of a somewhat later date, none being as yet quite a century old. There are many classes of firms which do not come within the scope taken by Mr. Seyd, and respecting which he is unable to furnish staticts. In the publishing world, for instance, Messrs. Longsmaus ha\e done business continuing since J7-0, while Mr. Bentley's ancestor published works upwards of 200 years ago. Tho eleven years from 1806 to 1877 prosed very disastrous to newly-established firms in the city. In the former year about 600 new firms established themselves, of which, in 1877, only 317 remained. Of nearly 650 established firms in 1872, about 400 nave perished; but since that period greater stability has prevailed. The number of newly-established firms has also largely increased. Iu 1873 these firms numbered 7.50; in 1574, 7i'2; in 1875, 864; while in 1576 no fewer than 1044 new firms were established. It seems that by far the greater part of the increase consists of small firms in the commission trade, and agents of manufacturers from the provinces and abroad. This increase in the commission and agency business for American and European inanufactuers is strongly borne out by British imports in 1871 amounted to three hundred and thirty-one million pounds ; but in ls7o the total amount had rinen to three hundred and seventy-live millions.