ABSTRACT
In the year 1830 two brothers, James and Peter Coats, took over their father’s thread mill in Paisley valued at about £10,000. They paid him a rent of £500 and themselves a salary which began at £70 and rose to £120 in the third year of operation. From this modest beginning, the partnership grew rapidly until its registration as a private joint-stock company a little over 50 years later with an issued capital of £2 million.
