By Peter J. Buckley
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Extra resources for European Direct Investment in the U.S.A. before World War I
K. A. before 1914. 6. Reckitt and Sons was established in 1840 in Hull, England to manufacture starch. 50 Reckitt's opened a New York branch in 1892. Through a mutual contact, Reckitt's became acquainted with the American firm, Morse Brothers, and in 1896 purchased the British Empire rights to Morse Brothers' 'Rising Sun' stove polish and 'Sun' paste stove polish. S. K. rights). A. Although no terms could be agreed with Prescott's an agreement was signed with the Morse ftrm. However, Reckitt's directors were kept waiting months for ftnal completion.
Even at the end of the period large enterprises existed only in the textiles industry of New England, in banking, importing and distribution, and of course, in the railroads. The early part of the period, to 1815, saw the heyday of the independent non-specialised urban merchant, through whom production was channelled to diffuse markets. British firms set up many such agents in New York, for example, and often used them for dumping excess inventories. However, the period 1815-70 saw the decline of such all-purpose merchants and they were replaced by specialised wholesalers.
K. and for a time severely tested the survival of the whole fum. , resumed in 1922, were at Viscount Mackintosh's (the founder's son) insistence, and were always joint ventures. The product was also more carefully presented, wrapped and packaged. S. subsidiaries which failed or those which are not part of today's European multinationals. Lewis listed industrial companies operating direct investments before World War I but admitted the list was incomplete. 8 shows that among British pre-war investments was the Marconi Wireless Telegraph Co.