Parsees

"When transactions did not turn out well, some preferred to store their unsold goods or sell on a commission basis rather than sacrifice them to the sly sharks on the waterfront. They were eager to load their caravans with merchandise for the long trek back to Afghanistan and even to Russia beyond. With little expectation of returning for many months from their orchards and bazaars, most were desperate for the credit which few Parsees cared to extend or only at ruinous rates of interest. David Sassoon was available and sympathetic. He accepted risks which seemed foolhardy to conservative British firms and even less attractive to the local moneylenders who liked to have their victims, mainly illiterate smallholders, within easy grasp."

"Often it took five months to reach Bombay from England, but the new steamship services would surely send up the values ofall foreshore property. With his first profits David Sassoon therefore began to buy up wharfages in Bombay. He was following in the tracks of the Parsees, but with one essential difference. They acted mainly as local middlemen and used their assets to buy land or lend money to the peasants. He preferred to nuzzle the warmth of foreign trade and was quickly among the captains of the bulging dhows which poured ceaselessly into the Bay of Bengal. By offering them dock space, he automatically had the first pick of goods before they reached the city booths. Many a trader would be stranded in port and short of money while waiting for the monsoons to pass. When they were ready to sail home, half their fresh cargoes would often be Sassoon merchandise. Some who had sold their own wares in Bombay were also tempted to invest in wools, gay chintzes, dye-stuffs and turquoises for the return journey. For this they needed additional capital or the services of a trusted go-between. Sassoon was at hand in both capacities."