Catalogue description Bolckow Vaughan and Company Limited
This record is held by Teesside Archives
|Title:||Bolckow Vaughan and Company Limited|
BS/BV/1. Corporate Records
|Date:||1830 - 1929|
|Held by:||Teesside Archives, not available at The National Archives|
|Legal status:||Not Public Record(s)|
Bolckow Vaughan and Company Limited Collection
|Physical description:||42 boxes, 29 rolls, 4 rolls|
|Administrative / biographical background:||
Bolckow Vaughan and Company was incorporated on 19th November 1864. The company acquired the collieries, mines, furnaces and iron works belonging to the firm of Bolckow and Vaughan, 'the pioneers of the Cleveland iron trade' (Financial Times, 10 June 1922).
The company became involved in various activities including the manufacture of intermediates for dyes and explosives, becoming a controlling interest in Intermediates and Explosives.
The company created special reserves after the First World War 'to meet probable depreciations in stock values 'coming in 'most useful' after the slump (Financial Times, 10 June 1922).
1000000 Ordinary Shares were created in January 1918, bringing the nominal capital up to £5000000.
In June 1920, the company acquired a controlling interest in Darlington Rolling Mills. Bolckow Vaughan also acquired the Eston Sheet and Galvanising Company.
In June 1922, it was announced that Bolckow, Vaughan and Co. had agreed with Redpath, Brown and Co. Ltd (constructional engineers based in Edinburgh) to fuse their interests, though without any changes in management in the two companies. At this time, Bolckow Vaughan had an authorised capital of £5000000, (divided into 25000 5% Cumulative Preference shares and 4500000 ordinary shares).
The Financial Times wrote: 'the company's record illustrates to a remarkable degree the eminence attained by the engineering industry in this country, and as one of the leading concerns its position reflects more truly the state if the trade than do the majority of individual undertakings in whatever industry… the history of Bolckow Vaughan is one of the greatest interest and an object-lesson of the value of all-round stability and sturdy enterprise' (10 June 1922).
However, the company suffered during the years of trade depression in the early years of the 1920s, as well as from the Coal Stoppage of 1926, all of which weakened its position.
In 1929, Bolckow Vaughan and Co. Ltd. was worth a nominal capital of £6000000 (25000 5% Cumulative Preference Shares and 5500000 Ordinary Shares). In November of this year, it was resolved that the company be amalgamated with Dorman, Long and Co. Ltd. for 'the ultimate improvement of both the financial position and the earning capacity of the two largest Iron and Steel undertakings on the River Tees': to such purpose, the company was wound up and liquidated voluntarily. The Directors of the company were appointed to the Board of Dorman Long.
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