#FromtheArchives - Bow River Horse Ranche Company Limited
Our first #FromtheArchives feature focuses on a single share certificate, the first in the Baring Archive's Certificates and Securities collection.
The certificate is for the Bow River Horse Ranche Company Limited, located at Cochrane, Alberta Canada. In September 1888 the ranch sought to raise capital of £16,000 and the document records that Edward Charles Lord Revelstoke purchased 100 shares at £5 each.
Edward Charles Baring, 1st Lord Revelstoke was senior partner of Barings at the time. According to the Bank of England's inflation calculator he was investing the equivalent of £66,459.77 in today's money, a significant investment.
The certificate shows that the directors of the Bow River Horse Ranche Company were Edwin Goddard and Charles Elliott. A brief search of the internet reveals that Gilbert Edwin Goddard (1861-1931) emigrated to Canada the same year that this certificate was issued. He was a prominent horseman and took charge of the Bow River Horse Ranch. The main purpose of the ranch was to breed horses for the English market.
A note on the reverse of the certificate states that the shares were liquidated. This would have most probably taken place following the collapse of Barings in 1890. The bank had become insolvent due to over exposure to Argentinian debt. The business was rescued by a consortium of other major London banks who guaranteed the firm's debts. Lord Revelstoke and his fellow partners stepped down and were held personally liable for the debt. Many of their assets including property, artworks and shares such as those in the Bow River Horse Ranche company were sold.
- View a high definition image of the certificate (ref: CS/001)
- Learn more about Barings' agents in Argentina and the Baring crisis
The Baring Archive contains material from the establishment in 1762 of the London merchant house of John & Francis Baring & Co and is a key resource for the history of the development of the international capital markets.
#FromtheArchives features a document from the Baring Archive and provides an opportunity to learn about the stories behind it.
Posted on Monday, 5th July 2021