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In
response to an appeal for a commercial company to deal with the many
wild cattle in the area of land now known as Lafonia, two brothers Lafone,
set up a 'saladero' in the north west corner of Lafonia at Hope Place.
This mirrored their beef salting, hide and tallow export business in
Uruguay.
The business did not flourish for a number of reasons, and to rectify
this a company was set up in England in 1851, by several business friends
of the Lafones, thus becoming The Falkland Islands Company. In 1852
the Company received its Royal Charter, and plans were made to enlarge
and energise the business by breeding sheep, organizing the cattle industry
more efficiently, and setting up a trading store in Stanley, ship repair
and agency for the numerous sailing ships coming by way of Cape Horn.
Years of financial difficulties were to pass, due to the Company Directors
in England holding tightly on to funds needed in the Falklands to run
the business efficiently. Fortunately by 1888 profits were up, sheep
farming was prospering and the Company had bought the rival Dean Brother's
business (which was similar, but larger than the Company's).
Falkland Islands Company business now included the Ship Hotel in Stanley,
shipping and agricultural agents, several Consulates, banking facilities,
general store, passenger and mail transportation to and from the Falkland
Islands. Between 1920 and 1945 the Company increased its agricultural
holdings by purchasing Fitzroy, Spring Point, Fox Bay West and Port
Stephens farms when they became available. However, in recent years
these have all been sold to residents, the first being Green Patch,
in an effort to 'kick-start' a scheme whereby local people could purchase
their own small farms. The remaining farming interests were sold to
the Falkland Islands Government in 1991.
In 1962 the Company was listed on the UK Stock Exchange. In 1972 the
Company was taken over by Dundee, Perth and London Shipping Company.
This was followed by Charrington Fuels then Coalite Group PLC, finally
Anglo United in 1989. Subsequently the Company was again listed on the
Stock Exchange in its own right.
During the 1982 war (in which British forces ousted invading Argentine
troops) many Islanders sought refuge on FIC farms. A number of Company
staff on farms and in Stanley did much to improve civilian life under
Argentine rule in the Falkland Islands during that period.
Business continues strongly, with current major investment in mineral
prospecting; oil off-shore and gold onshore. For more details, please
visit our company website on http://www.the-falkland-islands-co.com.
Text by Joan Spruce
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