DOI Seite / Zitierlink:
https://doi.org/10.11588/diglit.27741#0014
each other in starting a variety of banking,
financial, trading and other nondescript
institutions ; also some companies for
colossal reclamation works the construc-
tion of which might astonish even the
most venturesome and audacious engi-
neering genius of the day. The aggregate
capital, chiefly the enormous profits rea-
lised on the cotton shipments to Liver-
pool, which was thoughtlessly sunk in
those mushroom concerns, is approxi-
mately computed at fully 50 crore rupees.
It was during this stirring period that
Mr. Premchund came to be greatly re-
garded and widely known, principally by
reason of his great influence with the old
but ill-fated Bank of Bombay and the
Asiatic Banking Corporation, and, later
on, by his skilful floating of the Bom-
bay Reclamation Company, commonly
known as the Backbay Company, a share
of which could be easily sold during the
very meridian of the speculation for
Rs. go,000 or ten times its paid up
financial, trading and other nondescript
institutions ; also some companies for
colossal reclamation works the construc-
tion of which might astonish even the
most venturesome and audacious engi-
neering genius of the day. The aggregate
capital, chiefly the enormous profits rea-
lised on the cotton shipments to Liver-
pool, which was thoughtlessly sunk in
those mushroom concerns, is approxi-
mately computed at fully 50 crore rupees.
It was during this stirring period that
Mr. Premchund came to be greatly re-
garded and widely known, principally by
reason of his great influence with the old
but ill-fated Bank of Bombay and the
Asiatic Banking Corporation, and, later
on, by his skilful floating of the Bom-
bay Reclamation Company, commonly
known as the Backbay Company, a share
of which could be easily sold during the
very meridian of the speculation for
Rs. go,000 or ten times its paid up