05 - Letters from Charles Jutting to Barings and Thomas Baring

Object Type: Folder
In Folder: 28 - St Petersburg: Letters from Charles Jutting to Barings and Thomas Baring

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05 - Letters from Charles Jutting to Barings and Thomas Baring

HC10/28/05

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Reference Number: HC10/28/05

Description: Note: The year 1870 was marked by growing disharmony in the council of the Grand Co. A gradual change in the composition of the council is discernible in the years 1864 to 1870. At its formation, in 1857, the company, being financed by foreign money, was largely controlled by the foreign members of council. From about 1864 the proportion of Russian representation on the council began to increase and there was gradually introduced into the management of its affairs a native element, reluctant to see an appreciable part of the company's profits disappearing abroad. At the same time the type of individual Russian who gained election to the council was changing. At first such men as Baron Stieglitz and Count Strogonoff had ensured a conservative influence in the council; the new men included speculators such a JS Block, who were quite prepared to use their new position to their own advantage as railway promoters. Thus two opposing parties developed within the council, and its affairs were filled with conflict. Barings, Hope & Co, and William Borski represented the old type of international banker. All retained the respect of the members of the council and of the shareholders, but they had to fight hard, as the years went on, to maintain their representation on the council in the face of the lobbying and vote-catching of their opponents.

Date: 1869-1870

TBAL Reference: HC10.28 Part V

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Maps included in letters from Charles Jutting to Barings and Thomas Baring

HC10/28/05/m

1869-1870