Directors' minute book no. 1, with index.

Reference:GB 254 MS 89/2/1
Dates of Creation:1920-1932
Name of Creator:
Physical Description:

Scope and Content
Includes minutes of annual general meeting of shareholders, 1920-1928. With loose papers, including valuation of buildings, machinery and plant at Monifieth Foundry, 1924, and note of capital expenditure, 1905-1925.
Administrative / Biographical History
James F Low & Co Ltd was set up around the beginning of the nineteenth century by James Low and Robert Fairweather at Monifieth, then 'a primitive village of turf huts'. The firm, which produced the first locally made carding machine for flax tow in 1815, grew as machine spinning spread throughout Tayside. On the death of William Low in 1840, James Kennedy managed the works until James Fairweather Low (1825-1901) assumed control in 1849. Under James F Low, who was later assisted by his brother Samuel Miller Low (1835-1921), the firm continued to expand. By the 1880s there were 300 workers employed at the Monifieth Foundry, producing a range of machines for the processing and spinning of jute, flax, hemp and other similar fibres, not only for local textile spinning concerns but for customers throughout the world. James F Low's son William took over in 1892 and in 1902 the firm was incorporated as a limited company under his chairmanship. In 1924, the Low family sold their interest to John Shaw & Sons (Wolverhampton) Ltd, manufacturers and merchants. By the early 1930s the company was in serious financial trouble and in 1933 was taken over by a Dundee syndicate headed by Joseph Johnstone Barrie of Charles Barrie & Sons, shipowners and insurance brokers. The company's fortunes were restored during the Second World War when the foundry was almost completely turned over to the production of bombs, machine tools and aircraft components. In 1948, McLeod & Co Ltd of Calcutta, whose interests included jute mills, tea estates, engineering and light railways, acquired the company. Actual ownership was subsequently vested in James F Low & Co (India) Ltd, established as a limited company in 1949. One consequence of the change of ownership was the manufacture of Low's machinery by the Britannia Engineering Co Ltd, of Calcutta. From about 1955 Low & Co (India) Ltd, were faced with contracting markets for their textile machinery and consequently diversified into sub-contract work and the manufacture of a range of building equipment, including cement mixers, dumpers, fork-lift trucks, concrete pumps and vibrating pokers. This latter development led to the establishment of Rob Roy (Contractors Plant) Ltd, (c.1959) and Angus Concrete Pumping Services Ltd (formerly Angus Winding Ltd) and in 1966 Low & Co, acquired The Silent Ballcock Co Ltd, which had been incorporated in 1957. The name of The Silent Ballcock Co Ltd was changed to James F Low (Engineers) Ltd, in whom all the fixed assets of James F Low & Co Ltd, including Monifieth Foundry, were vested. James F Low & Co Ltd, thus became merely a holding company with three wholly owned subsidiaries. Control remained with James F Low & Co (India) Ltd, although between 1970 and 1973 a large stake was acquired by Mona Agency, Isle of Man, later transferred to Westdean Ltd, Jersey. In 1984 the Clydesdale Bank called in the receiver and James F Low (Engineers) Ltd, ceased trading. James F Low & Co Ltd, and its subsidiary, Rob Roy (Contractors Plant) were unaffected by the order.
Arrangement
Usually chronological within series.
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Note
James F Low & Co Ltd was set up around the beginning of the nineteenth century by James Low and Robert Fairweather at Monifieth, then 'a primitive village of turf huts'. The firm, which produced the first locally made carding machine for flax tow in 1815, grew as machine spinning spread throughout Tayside. On the death of William Low in 1840, James Kennedy managed the works until James Fairweather Low (1825-1901) assumed control in 1849. Under James F Low, who was later assisted by his brother Samuel Miller Low (1835-1921), the firm continued to expand. By the 1880s there were 300 workers employed at the Monifieth Foundry, producing a range of machines for the processing and spinning of jute, flax, hemp and other similar fibres, not only for local textile spinning concerns but for customers throughout the world. James F Low's son William took over in 1892 and in 1902 the firm was incorporated as a limited company under his chairmanship. In 1924, the Low family sold their interest to John Shaw & Sons (Wolverhampton) Ltd, manufacturers and merchants. By the early 1930s the company was in serious financial trouble and in 1933 was taken over by a Dundee syndicate headed by Joseph Johnstone Barrie of Charles Barrie & Sons, shipowners and insurance brokers. The company's fortunes were restored during the Second World War when the foundry was almost completely turned over to the production of bombs, machine tools and aircraft components. In 1948, McLeod & Co Ltd of Calcutta, whose interests included jute mills, tea estates, engineering and light railways, acquired the company. Actual ownership was subsequently vested in James F Low & Co (India) Ltd, established as a limited company in 1949. One consequence of the change of ownership was the manufacture of Low's machinery by the Britannia Engineering Co Ltd, of Calcutta. From about 1955 Low & Co (India) Ltd, were faced with contracting markets for their textile machinery and consequently diversified into sub-contract work and the manufacture of a range of building equipment, including cement mixers, dumpers, fork-lift trucks, concrete pumps and vibrating pokers. This latter development led to the establishment of Rob Roy (Contractors Plant) Ltd, (c.1959) and Angus Concrete Pumping Services Ltd (formerly Angus Winding Ltd) and in 1966 Low & Co, acquired The Silent Ballcock Co Ltd, which had been incorporated in 1957. The name of The Silent Ballcock Co Ltd was changed to James F Low (Engineers) Ltd, in whom all the fixed assets of James F Low & Co Ltd, including Monifieth Foundry, were vested. James F Low & Co Ltd, thus became merely a holding company with three wholly owned subsidiaries. Control remained with James F Low & Co (India) Ltd, although between 1970 and 1973 a large stake was acquired by Mona Agency, Isle of Man, later transferred to Westdean Ltd, Jersey. In 1984 the Clydesdale Bank called in the receiver and James F Low (Engineers) Ltd, ceased trading. James F Low & Co Ltd, and its subsidiary, Rob Roy (Contractors Plant) were unaffected by the order.
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Physical Characteristics and/or Technical Requirements
The records are on paper.
Archivist's Note
Description compiled by Jennifer Johnstone, Archive Trainee, August 2008
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Additional Information
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