Records of British Assets Trust Ltd, investment trust, Edinburgh, Scotland

Transcription

1 Records of British Assets Trust Ltd, investment trust, Edinburgh, Scotland

2 Cataloguing Information Note: This page describes the Finding Aid or Catalogue Entry, rather than the material itself. Publication -//glasgow university archive services :: finding aids//document gb-0248-ugd //en Records of British Assets Trust Ltd, investment trust, Edinburgh, Scotland Glasgow University Archive Services, 11 February 2003 Creation Created from an EAD template in MS Word by the running of Visual Basic macros by Andrew Semple, Administration Assistant, 11 February 2003 Print formatted copy created from the EAD by XSLT and XSL-FO Stylesheets by John Harrison of the University of Liverpool. Language Usage English Revisions * No alterations made to date * 03 June 2005 converted from EAD 1.0 to 2002 by v1to02.xsl (sy ).

3 Scotland 1 Records of British Assets Trust Ltd, investment trust, Edinburgh, Scotland, Reference Creator Physical Description Scope and Content GB 248 UGD/228/2 British Assets Trust Ltd (investment trust: 1898-c1988: Edinburgh, Scotland) 4.6 metres * Ledgers * Brokers' ledger * Journals * Register of investments , * Investment records * Dividend register * Share records * Register of members * Register of directors * Statements * Purchase and sales records * Debentures repayable book * Cash book Administrative / Biographical History James Ivory ( ) was born in 1862, the son of William Ivory, Advocate, Sheriff of Inverness, Elgin and Nairn, Scotland, and Janet H Rankin. He was educated at Harrow School, England, before spending some time in Hanover, Germany. On his return to Edinburgh, Scotland, he was apprenticed to Moncrieff & Horsburgh, chartered accountants, qualifying as a CA in 1886 and setting up his own firm in that year. In 1887, he married Florence T Wyckoff of New York, USA, and went on to have two sons and two daughters. In 1895, Ivory went into partnership with Thomas Watson Sime, CA, as Ivory & Sime. This partnership lasted until 1907 when Sime emigrated to Canada. That year also saw the company's incorporation as a limited liability company, Ivory & Sime Ltd. The late nineteenth century was a period when many Edinburgh lawyers were developing a growing interest in the management and investment of other people's money, the investment trust movement having come into being with the creation of the Scottish American Investment Co Ltd in 1873, by William Menzies. In 1898, James Ivory set up British Assets Trust Ltd, an overseas investment company in Edinburgh, with a capital of 15,000 and by 1939 the trust was managing funds totalling 7million. This company was separate from Ivory & Sime, but was linked to it by its directors. From this time Ivory & Sime became associated with the management of investment trusts and by 1985 was managing a total of 13 investment trusts all of which were listed on the London stock exchange as public limited companies. British Assets Trust Ltd invested in mainly American and Australian stocks and shares in companies such as banks, building societies, lighting companies and railroads but there was also some investment in Scottish financial companies. In 1905, British

4 Scotland 2 Assets Trust Ltd acquired the assets and funds of the Caledonian Assets Trust Ltd, investment trust, Edinburgh, when that company was liquidated. In 1920, the company acquired the share capital of the Edinburgh American Land Mortgage Co Ltd, renaming it in 1925 as the Second British Assets Trust Ltd. These companies came under the management of Ivory & Sime Ltd and were registered at the same offices in Charlotte Square, Edinburgh. The company became a public limited company as British Assets Trust plc, probably in 1988 at the same time as Ivory & Sime became Ivory & Sime plc. In 2003, the company was still trading with interests predominantly in the UK and others in America, Japan and Europe. Arrangement The material has been arranged into series as shown in the scope and content. Within series, items are generally arranged chronologically. Conditions Governing Access Open Conditions Governing Use Applications for permission to quote should be sent to the University Archivist Reproduction subject to usual conditions: educational use & condition of documents Appraisal Information This material has been appraised in line with standard GB 248 procedures Acquisition Information Permanent loan : via BACS : June 1986 :ACCN 0084 Custodial History Held by Ivory & Sime Ltd, investment trust managers, Edinburgh Accruals None expected Other Finding Aid The catalogue of British Assets Trust Ltd's records exists as part of the UGD 228 finding aid which also includes catalogues of companies owned by Ivory & Sime Ltd or in which they had an interest. A digital file level list is available searchroom. Manual file list available at the National Registers of Archives in Edinburgh (NRA(S)1577, replaced by NRA(S)2764) and London (NRA21280) Alternative Form Available No known copies Related Material Ivory & Sime Ltd owned or held interests in a number of investment trust companies whose records exists as follows: GB 248 UGD 228/1 Records of Ivory & Sime Ltd

5 Scotland 3 GB 248 UGD 228/3 Records of Second British Assets Trust Ltd GB 248 UGD 228/4 Records of Independent Investment Co Ltd GB 248 UGD 228/5 Records of Investors' Capital Trust Ltd GB 248 UGD 228/6 Records of Second Investors' Mortgage Security Co Ltd GB 248 UGD 228/7 Records of Scottish Realisation Trust Ltd GB 248 UGD 228/9 Records of Edinburgh American Land Mortgage Co Ltd GB 248 UGD 228/10 Records of the Pleasance Trust GB 248 UGD 228/11 Records of Atlantic Assets Trust Ltd GB 248 UGD 228/12 Records of Clydesdale Investment Co Ltd GB 248 UGD 228/13 Records of Third Scottish Western Investment Co Ltd GB 248 UGD 228/14 Records of Second Caledonian Trust Co Ltd GB 248 UGD 228/15 Records of Third Caledonian Trust Co Ltd GB 248 UGD 228/16/1/1-2 Records of Edinburgh Trust & Agency Ltd GB 248 UGD 228/16/1/3 Records of Electrical Securities Trust Ltd GB 248 UGD 228/16/1/4 Records of Canning Downs Estate Ltd GB 248 UGD 228/16/1/5 Records of Caledonian Assets Trust Ltd See source list on Banking and Finance available via Glasgow University Archive Services home page at Material in other repositories: no material associated by provenance Bibliography No known publications using this material Other Descriptive Data This material is original Date(s) of Description Compiled by David Powell, Hub Project Archivist, 15 January 2003 No alterations made to date Access Points Subjects Investment Corporate Names Ivory & Sime Ivory & Sime Ltd British Assets Trust Ltd 1898-c1988 Edinburgh American Land Mortgage Co Ltd Second British Assets Trust Ltd 1925-c1970 Caledonian Assets Trust Ltd

6 Scotland 4 Geographical Names Edinburgh (Scotland)