British Motor Syndicate
From Wikipedia, the free encyclopedia
| Company type | Public Listed Company |
|---|---|
| Industry | Automotive |
| Founded | July 1895 in London, England[1] |
| Founders | |
| Headquarters | 59, Holborn Viaduct, E.C., London , England |
| Services | Farming of patent rights |
The British Motor Syndicate Limited (BMS) was a company formed in November 1895[2] by company promoter and entrepreneur Harry John Lawson. Lawson's aim was to use BMS to raise funds from the public to establish a business with a monopoly on petrol-driven cars by acquiring as many patents as possible related to such vehicles[3] from Gottlieb Daimler, his business associates, and other sources.[4][5]
The Coventry Motor Company
It was never the company's intention to produce motor cars, but rather to exploit the patents it had purchased by charging substantial royalties to automobile manufacturers for the right to manufacture cars using those patents.[6]
By the time of the first public issue, twelve months after incorporation, the following patent holders had committed themselves to BMS:
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- Henry P Holt of Crossley Bros, Manchester. Otto Gas Engine makers.
- Gottlieb Daimler, inventor Daimler motor carriage (master patents)
- W Worby Beaumont (consulting automobile and mechanical engineer and author)
- M. Bollée, inventor Bollée voiturette
- E J Pennington, inventor of the Pennington Motor
- Count de Dion, inventor de Dion motorcycle
- Walter Bersey, inventor electric cab and carriages
- J J Henry Sturmey, editor Autocar and many others
and BMS had received more than £200,000 from English motor car manufacturers, leading names were Lawson's Daimler and Great Horseless.[5]
Directors
Directors at the time of flotation, November 1896:
- Harry John Lawson, President Motor Car Club, Founder Safety Bicycle Industry, Chairman of directors Beeston Pneumatic Tyre Company Limited
- Prince Ranjitsinhji, Owner Indian Patents
- Herbert H Mulliner, Director of: Coupé and Dunlop Brougham Company Limited, London Electrical Cab Company Limited
- Thomas Humber, Founder Humber Cycle Company
- Thomas Robinson, Director Great Horseless Carriage Company Limited
- Lord Norreys President of the Road and Path Cycling Association[5]
Commercial manager: Herbert Osbaldeston Duncan
Brokers: Ernest T Hooley, Chapman & Rowe
Consulting Engineer: Frederick R. Simms[5]
Educated opinions of the float
The Economist was reported by the Coventry Herald as saying that the public might judge for themselves if reasonable dividends could be earned on the inflated amount of the syndicate's capital. Furthermore "the publication [of the prospectus] has been followed by a chorus of repudiations" from those said to be connected with the syndicate, one way or another. In the opinion of The Economist the syndicate would be unable to bar the way to the industry's progress by insisting on exorbitant royalties.[7]
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