Shortly after I was admitted a partner my father's health became indifferent, and at his wish we bought him out of the firm and took over the business. We decided to also become steamship owners, and by arrangement with a firm in Hartlepool we became the managing owners of several steamers, which we put into the West Indian trade in opposition to Mr. Alfred Holt. We had not been very long in the trade before the principal shippers, Imrie and Tomlinson and Alex. Duranty and Co., also formed a line of steamers, and it seemed at the moment as if we must be crushed out of the trade, the opposition was so formidable; but with the dogged determination so characteristic of my brother Arthur we persevered, and in the end forced both our competitors to join us. We then formed a large company, the West Indian and Pacific Co., which was an amalgamation of the three concerns, my firm retaining the management. The business rapidly grew and separate offices had to be taken. For nine years my brother devoted his time to the management of the steamship company, leaving me to work our own business. It was a heavy responsibility for one so young. Our capital was small, and our business in cotton and in making advances upon shipping property very active, but we were well supported by our bankers, Leyland and Bullins. I was a neighbour of Mr. Geo. Arkle, the managing partner, and shall be ever grateful for the confidence he reposed in us. I remember his sending for me in 1866, telling me that we were face to face with a panic, and as he wanted us to feel comfortable we must cheque upon the bank and take up all our acceptances against shipping property. The system of banking was then very much a matter of confidence. During the whole of my business career we never gave our bankers any security. Mr. Arkle perhaps carried this principle too far. I remember his refusing to open an account for a man who was introduced to my firm by highly respectable people in America, and who had brought with him a draft on Barings for £80,000 as his capital, Mr. Arkle requiring that my brother and I should ask him to open the account as a guarantee to him that we were satisfied as to the man's character, to which he attached more value than to his capital. About the year 1870 we admitted my brother Brittain into partnership. Prior to this we opened a house in Bombay, which was managed by my old school friend, G. F. Pim, who was afterwards joined by my brother George.