History

The year 1748 witnessed the business magnates and merchants from Barcelona under the government of King Fernando VI to achieve their mercantile objectives by means of founding a large company. The kingdom of Spain had already exceeded the zenith at this point in time and was everywhere in the defensive and on the retreat. However, the business magnates of Barcelona enjoyed a good reputation everywhere and were, for that reason, very welcome. The foundation document was signed in 1755 with royal consent. The joint capital of the company was determined at one million pesos. The company could only start the trade when at least 400,000 pesos were subscribed. The monopoly position of the company ended in 1765. Other firms should be able to business with Honduras and Guatemala as well. A dividend may have been paid out for the first time in 1771, however, the firm slid into a crisis again afterwards, so that it was taken up in the Real Compania de Philipina in 1785.