Page 247 - Merchants and Mandarins China Trade Era

233.
1
Russell & Co. With Cushing s consignments the house gained

the leading American position in the opium trade.
1
During the 1830 s Russell & Co. expanded its opium

business even further. After 1831 trade in Indian opium

experienced another general surge. In that year East India

Company authorities in India dropped their restrictions on

private English traders carrying only Bengal opium. Immed­

iately the volume of imported Malwa opium, which the Chinese

now preferred to Patna and Benares (Bengal), mushroomed. This

action benefited the Americans as well as the English. Russell

& Co. partners at Canton felt their business had expanded

enough to warrant their own receiving ship and their own agent

at Bombay to handle consignments. By the end of 1833 the house

had achieved both. Previously, Russell & Co. had rented space
11
on the receiving ship Lintin from its owner Bennet Forbes.
11
The use of Forbes' ship had been arranged when Cushing left

his opium business to the house. In ensuing years Russell &

Co. had combined with John R. Latimer and William Jardine to

sell their opium for them. As both of the latter stored their

opium aboard the 11Lintin, 11 Russell & Co. observed the profits

the house was forfeiting. The partners managed to buy the
1 11 42
1 Lintin and put their own captain in charge.

42
willi<1m H. Low, chief of Russell & Co., outlined the
house's connection with Latimer and Jardine in Letter, W.H. Low
to S. Russell, Oct. 8, 1831, Russell & Co. MSS. For the nego­
tiations between Russell & Co. and Bennet Forbes over the bark
"Lintin, 11 see Letters, W.H. Low to S. Russell, Jan. 8, 1832,
Russell & Co. Y.tSS. A. Heard to S. Russell, Feb. 14, 1832, Harvard
Business School, Baker Library, Heard MSS, R.B. Forbes to Russell
& Co., Jan. 29, 1832 and R.B. Forbes to T.H. Perkins, jr., Feb.
10, 1833, Forbes MSS.