Bill of Exchange; The company was formed in 1763, when five major guilds of Madrid (the silk-, wool- and cloth-merchants, the jewelers and the drapers) came together. It was an immediate success,and became the most important Spanish commercial undertaking of the century. The range of its activities widened steadily, making large profits and paying high dividends. Among the company's activities were the collection of royal taxes, controlling theroyal silk factories at Valencia and elsewhere, building the Aragon Canal, supply of army and navy food and clothing, food supplies for Madrid, etc. It was active in trade with the Americas, with its own fleet of ships, and trading-posts at Mexico City, Vera Cruz, Lima, Arequipa, Guatemala and Manila, and offices in London, Paris and Hamburg; XF
