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drink due to poor filtration and decades-old wooden supply pipes. Environmental research and
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clean-up efforts have contributed to the diversification of the local economy in the
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post-millennium era, and signs of vitality remain, including a multimillion-dollar polysilicon
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manufacturing plant locating nearby in the 1990s and the city's recognition and designation in the
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late 1990s as an All-America City and also as one of the National Trust for Historic Preservation's
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Dozen Distinctive Destinations in 2002.
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See also
Anaconda Copper
History of Montana
References
Works cited
External links
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History & culture of Butte at official City and County of Butte-Silver Bow website
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Butte mining history at Mining History Association
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History
Butte
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53_0
|
Jardine Matheson Holdings Limited (also known as Jardines) is a Hong Kong-based Bermuda-domiciled
|
53_1
|
British multinational conglomerate. It has a primary listing on the London Stock Exchange and
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|
secondary listings on the Singapore Exchange and Bermuda Stock Exchange. The majority of its
|
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business interests are in Asia, and its subsidiaries include Jardine Pacific, Jardine Motors,
|
53_4
|
Hongkong Land, Jardine Strategic Holdings, DFI Retail Group, Mandarin Oriental Hotel Group, Jardine
|
53_5
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Cycle & Carriage and Astra International. It set up the Jardine Scholarship in 1982 and Mindset, a
|
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mental health-focused charity, in 2002.
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Jardines was one of the original Hong Kong trading houses or Hongs that date back to Imperial
|
53_8
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China. 58 per cent of the company's profits were earned in China in 2019. The company is controlled
|
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by the Keswick family, who are descendants of co-founder William Jardine's older sister, Jean
|
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Johnstone.
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Jardine Matheson is a Fortune Global 500 company. In 2013, both Jardine Matheson and Jardine
|
53_12
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Strategic were among the top 200 publicly traded companies in the world, as valued by market
|
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capitalisation.
|
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History
19th century to WWII: The early days
|
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|
The firm of Jardine, Matheson & Company emerged in 1832 from an evolving process of partnership
|
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|
changes in the trading business Cox & Reid, a partnership established in 1782 between John Cox and
|
53_17
|
John Reid, the latter having been agent of the Austrian trading company, Trieste Company.
|
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|
University of Edinburgh Medical School graduate William Jardine (1784-1843) joined the firm, by
|
53_19
|
then having morphed through Cox & Beale, Beale & Company and Beale & Magniac into Magniac &
|
53_20
|
Company, and the original partners long gone, in 1825 at the invitation of principal Hollingworth
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Magniac. University of Edinburgh graduate James Matheson joined three years later as Magniac
|
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prepared to retire. With the cession of Hong Kong under the 1842 Treaty of Nanking, the firm, by
|
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|
then named Jardine, Matheson & Company, set up its headquarters on the island and grew rapidly.
|
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|
Continuing its longstanding trade in smuggled opium, tea, and cotton, the firm diversified into
|
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|
other areas including insurance, shipping, and railways. By the mid-19th century, the company had
|
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|
become the largest of the hongs or foreign trading conglomerates with offices in all the important
|
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|
Chinese cities as well as Yokohama, Japan. One of its branch agencies, Glover and Co., established
|
53_28
|
in Nagasaki, was known in Japan as an arms dealer who contracted with then-rebel forces from Chōshū
|
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Domain who led the Meiji Restoration in 1868.
|
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|
In the early decades of the 20th century, Jardines built cotton mills, a press packing plant, and a
|
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|
brewery in Shanghai while expanding into Africa, America, and Australia. When war came to China in
|
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|
1937, the firm suffered heavily both in Hong Kong and in mainland China.
|
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|
After the 1949 foundation of the People's Republic of China, trading conditions for foreign
|
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|
companies under the new Communist regime became increasingly difficult.
|
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|
Post-WWII restructuring and expansion
|
53_36
|
The firm listed in Hong Kong in 1961. The landmark Mandarin Hotel opened in Hong Kong in 1963 as
|
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the city's first five star hotel.
|
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In 1970, Jardine Fleming, the first merchant bank in Asia, opened for business while a real estate
|
53_39
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company and sugar plantations in Hawaii and the Philippines were acquired. A Hong Kong building
|
53_40
|
boom in the mid 1970s saw Jardine's buy Gammon Construction, the largest construction and civil
|
53_41
|
engineering group on the island. A presence was re-established on the mainland in 1979 following
|
53_42
|
China's reform and opening up and a year later the firm established the Beijing Air Catering
|
53_43
|
Company Ltd., the first foreign joint venture in the country. During the 1970s Jardines also
|
53_44
|
expanded their insurance interests with acquisitions in the United Kingdom and the United States
|
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|
laying the groundwork for the foundation of Jardine Insurance Brokers.
|
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|
By 1980, the firm had operations in southern Africa, Australia, China, Great Britain, Hong Kong,
|
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|
Indonesia, Japan, Malaysia, Philippines, Saudi Arabia, Singapore, South Korea, Taiwan, Thailand, as
|
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|
well as the United States, and employed 37,000 people. After re-domiciling to Bermuda in 1984 ahead
|
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|
of the 1997 handover of Hong Kong, in 1990 Jardine Matheson Holdings and four other listed group
|
53_50
|
companies arranged primary share listings on the London Stock Exchange in addition to their Hong
|
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|
Kong listings. Other significant developments during this decade included the merging of Jardine
|
53_52
|
Insurance Brokers with Lloyd Thompson to form Jardine Lloyd Thompson, the acquisition of a 16%
|
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|
interest in Singapore blue-chip Cycle & Carriage and Dairy Farm’s purchase of a significant stake
|
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|
in Indonesia's leading supermarket group Hero. Hotel brand Mandarin Oriental also embarked on a
|
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|
strategy to double its available rooms and improve returns.
|
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|
The first decade of the new millennium saw Jardine Cycle & Carriage acquire an initial 31% stake in
|
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|
Astra International, which has since been increased to just over 50%. Hongkong Land became a Group
|
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|
subsidiary for the first time following a multi-year programme of steady open market purchases
|
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|
while Jardine Pacific raised its interest in Hong Kong Air Cargo Terminals Limited from 25% to 42%.
|
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|
In 2018, Jardines sold its 41% interest in Jardine Lloyd Thompson to Marsh and McLennan Companies.
|
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|
21st-century operations
|
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|
Jardines today comprises a group of companies with extensive operations across Asia and, through
|
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|
some of its businesses, the world. The firm's business interests include Jardine Pacific, Jardine
|
53_64
|
Motors, Hongkong Land, Dairy Farm, Mandarin Oriental, Jardine Cycle & Carriage, through which its
|
53_65
|
interest in Astra is held. The Group also has strategic interests in other entities.
|
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|
Jardine Pacific
|
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|
Jardine Pacific is a holding company which represents a significant number of the Group's
|
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|
non-listed interests in Asia, principally in engineering and construction, transport services,
|
53_69
|
restaurants and IT services. These include a number of Jardines’ long-standing businesses such as
|
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|
Jardine Engineering Corporation (JEC), Jardine Aviation Services, Hong Kong Air Cargo Terminals,
|
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|
Jardine Schindler (joint-venture with the Schindler Group which evolved from JEC's earlier
|
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|
appointment as Schindler's sole Hong Kong representative), Gammon Construction and Jardine Travel
|
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|
Group as well as more contemporary interests that reflect the demands of Asian consumers; among
|
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|
them Pizza Hut restaurants in Hong Kong, Taiwan, Vietnam and Myanmar, KFC franchises in Hong Kong,
|
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|
Macau and Taiwan, and Jardine OneSolution IT services.
|
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|
Jardine Motors
|
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|
Jardine Motors is active in the sales and service of motor vehicles in Hong Kong, Macau, mainland
|
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|
China and the United Kingdom.
|
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|
Subsidiary Zung Fu, which has held the Mercedes-Benz luxury vehicle franchise in Hong Kong for over
|
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|
50 years, has achieved one of the highest market penetrations in the world for the luxury brand and
|
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|
ranks among its top international performers. The group also represents Smart and Hyundai passenger
|
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|
cars in Hong Kong. Zung Fu is expanding its presence across the growing market of Southern China
|
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|
where it is actively developing a network of Mercedes-Benz dealerships.
|
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|
In the United Kingdom, Jardine Motors is one of the country's largest retail dealership groups with
|
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|
a portfolio of specialist franchises that includes Aston Martin, Audi and Volkswagen, Jaguar and
|
53_86
|
Land Rover, Mercedes Benz and Porsche.
|
53_87
|
Hongkong Land
|
53_88
|
Hongkong Land is an Asian property investment, management and development group. Established in
|
53_89
|
Hong Kong in 1889 by Sir Paul Chater and William Keswick, the group today has property interests
|
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