Page 149 - Merchants and Mandarins China Trade Era

135.

capital on which to build their base. Thus in January 1824

began Russell & Co. of Canton. Russell and Arru-nidon were to

share the profits equally, with Russell remaining at Canton

and Arruidon drumming in India.

Arruidon was very anxious to leave Canton. He had

first come to China as Brown & Ives' agent in 1814, if not

earlier. Having returned to the United States in 1820, he

" . ,,60
t
wrote: I h ope never o go o Can on again. But in Sept-
t
t
ember 1822 he embarked for the Celestial Empire once again.
The partnership with Russell allowed him the opportunity to

get away from Canton. Actually the formation of Russell & Co.

not only accommodated the wishes of both partners, but it also

was an auspicious foundation on which to build a profitable
business. Brown & Ives possessed a large share of the China

j
market, and until 1831 they remained Russell & Co.'s ma or

consignor. On the other hand the Indian business in cotton

and opium was immensely valuable. In following years this

was a primary factor in the growth of Russell & Co. The house

managed continually to give special treatment to Indian mer­

chants. As the trade in cotton and opium expanded, a vast por­
61
tion of its volume went to Canton consigned to Russell & Co.

In November 1826 Russell and Ammidon contracted to ex­

tend their partnership beyond the expected expiration in December

60
Letter, P. Ammidon to S. Russell & Co., Nov. 14, 1820,
Russell & Co. MSS.
61
Russell & Co. and the merchants in India accepted bills
that would not necessarily be accepted elsewhere. Letter, W.H.
Low to S. Russell, Jan. 1832, Russell & Co. MSS.