Lochgilphead and Helensburgh connections with the famous Argyll motor car

Argyll Flying Fifteen CarThe legendary Argyll cars were built in two periods: 1899-1932 and 1976 to around 1990.

It all began with Helensburgh engineer, Alex Govan (sometimes called Alex Govern) in 1899 in his Hozier Engineering Company. It worked its way up with new models launched around every two years, each around 2hp stronger than the last. The first car – the Argyll Voiturette – was a 2 3/4 hp De Dion engine. By 1903, after a series of increasingly powerful models, the company produced a 10hp twin-engined version whose radiator tubes formed the sides of the hood.

The company became Scotland’s biggest marque and in 1905 moved into the custom built terracotta Argyll Motor Works in Alexandria, near the southern end of Loch Lomond. This building, for the now Argyll Motors Ltd, is described in the Royal Incorporation of Architects in Scotland (RIAS) guide as ‘the most extraordinary industrial palace in Scotland’.

The company was geared up for production on a scale similar to the Henry Ford Motor Company’s when Alex Govan died in 1907 – a blow to the heart from which the business did not recover. It went into liquidation in 1908.

Production restarted in 1910 with the company renamed as Argyll Ltd. It launched a new series of models – the renowned Flying Fifteen (picture above) and a six cylinder monster. Another model, the 12/14 was sold as a taxi, even being exported to New York. The innovative company saw the introduction of four-wheel brakes, the single sleeve valve engine developed by company director, Baillie P Burt and Burt McCollum engines.

In 1913, at the Brooklands race track in Surrey in the south of England, an Argyll car broke thirteen world records and twenty-eight Brooklands track records in a single day. But even this unparallelled achievement did not bring commercial success. There were costly legal battles over Burt’s patents and in 1914 the shareholders lost their confidence. No new backing was forthcoming and the company went into liquidation for the second time in 1914. The factory was sold to the Royal Navy 1914 for wartime torpedo production later that year.

A modest volume of car production resumed at the company’s early Bridgeton Works, led by John Brimlow who had formerly been in charge of repairs. Brimlow did not just restart production. He took the company back to its traditions with a pre-war 15·9 hp model with the addition of an electric starter but with the respected Burt McCollum engine. This, however, did not sell in any great volume.

The company produced the 12/40 sports model in 1926, took a stand at the London Motor Show in 1927 and produced its last cars in 1928, still available until another and far more long lasting closure in 1932.

The next reincarnation began in 1976 with a new manufacturing company making a mid-engined sports car, the Argyll GT at Manse Brae in Lochgilphead. This company was founded by Bob Henderson, a former Mini racer and turbocharger expert.

The company’s new car was named after the original Argyll of 1898, as a tribute to one of the investors in Henderson’s enterprise, whose grandfather had worked in the Argyll factory at Alexandria.

The only model this company ever made was the Argyll GT, using components from other manufacturers. Very few were manufactured. Sales were disappointingly small because the car had a limited appeal and this company turned up its toes around 1990.

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The photograph above, of the Argyll Flying Fifteen, is reproduced here under the Creative Commons licence.

Burt and Mathewson walk away from HBOS – Updated 21st November

Following the statement made by Chancellor Alistair Darling before the Lloyds TSB shareholders voted yesterday to accept the planned takeover of HBOS, Sir Peter Burt and Sir George Mathewson have abandoned their attempt to manage HBOS into independence.

Mr Darling, in a departure from earlier reassurances, announced yesterday – ahead of the Lloyds vote, that if a bank came back to the negotiating table after agreements made at the bail-out, they could not count on receiving the same recapitalisation or share price as previously agreed.

This will certainly, as intended, have stiffened the resolve of the big institutional shareholders to back the Government arranged takeover. This block swung the acceptance vote to a massive 96%.

With many of the institutional shareholders in Lloyds also shareholders in HBOS, the two senior Scottish financiers obviously now anticipate the same outcome at the HBOS shareholder vote in December.

They have shut down the website they had so recently launched, aimed at recruiting HBOS shareholder support for an EGM to consider their proposals. The site currently simply says:

‘In the light of the Chancellor of the Exchequer’s statement on 18th November 2008, we will be making a statement shortly.

‘To those people who have sent in their requisition forms, we thank you for your support’.

For Argyll would anticipate a statement in time for the main news either at 6.00pm or certainly for the 10.00pm.

This effectively means that The Fat Lady has finally sung. The one certain outcome is that the last hope of saving management functions in Scotland and saving branches and jobs across the country, including in Argyll.

For Argyll will update this news item with the financiers’ statement when it comes.

UPDATE Friday 21st November: The statement from Sir Peter Burt and Sir George Mathewson has just been released to lunchtime news services. The Independent HBOS website – which unfortunately was slow to arrive, poorly designed and poorly managed from the outset – still carries the familiar screen promising a statement.

The men say simply that that they have ‘reluctantly decided to discontinue their campaign. They say that they took the decision after the government made it ‘crystal clear”‘ it did not want HBOS to stay independent.

They are also critical of the ‘apparent apathy’ of the current HBOS Board, which led the bank to its collapse. They ask: ‘Why hadn’t the board firmly established… both the actual amount of capital required by the FSA and the terms on which the government were prepared to offer that capital?’

In a final sting, the congratulate Lloyds TSB on what they say may well come to be seen as the ‘sale of the century’.

Postscript: The burt-mathewson-hbos-statement appeared on the Independent HBOS website at 2.20pm.

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Burt Mathewson EGM request form on Independent HBOS website as Darling puts frighteners on shareholders ahead of Lloyds TSB vote on HBOS

Significantly heavy traffic has been visiting our news item on the establishment by Sir Peter Burt and Sir George Mathewson of their campaign website for an independent HBOS. Much of that traffic has been clicking through to to the website link which For Argyll published when it became available.

Those looking for the form requesting the current HBOS management to call an Extraordinary General Meeting (EGM) of the company at which the Burt Mathewson proposal will be discussed, will find it on the website under the section ‘Your Vote Counts’. It is available there as a download which can be printed off and posted to the campaign address or, alternatively, scanned and emailed as an attachment.

It was also made known late last night (Tuesday 18th November) that Chancellor Alistair Darling has issued a ‘warning’ to shareholders ahead of today’s (19th November) Lloyds TSB shareholders’ vote on their bank’s takeover of HBOS.

Although the UK Government had previously said that HBOS would have access to the bank recapitalisation deal in the event of the adoption of an alternative to the Lloyds takeover, Mr Darling has now let it be known that there is ‘no automatic right of access to the recapitalisation scheme’.

He is saying that access to the government deal is not ‘automatic’ and that any bank going back to the negotiating table risks getting a far lower share price than currently offered.

The SNP’s MSP, Alex Neil has, with financier Jim Spowart, fought hard to maintain HBOS independence to protect Scottish jobs from the inevitable losses that will follow takeover. He says of the Chancellor’s manoeuvre ahead of the Lloyds shareholders’ vote: ‘Once again the Treasury seems to be doing everything it can to inject doubt and frustrate alternate plans that could keep HBOS independent and safeguard competition and tens of thousands of jobs’.

Criticism of this schoolyard strongarm tactic is coming from across the political divide. Tavish Scott, the Scottish Liberal Democrat leader, asks: ‘Is the Chancellor really saying he will allow an independent HBOS to collapse? That is not a credible statement from the UK Government’.

The Lloyds TSB shareholders’ vote should be known tomorrow. HBOS shareholders vote on 12th December.

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Spowart argues for HBOS independence

In a memorable phrase in his continuing campaign to preserve HBOS as an independent bank, Scots financier Jim Spowart says: ‘I think the management at HBOS have thrown their guns overboard a few weeks ago and are not prepared to look at any alternatives.’

Mr Spowart’s view is that for the HBOS Board ‘it’s a merger with Lloyds TSB at all costs’. He feels that when the situation changed a few weeks ago with state funds made available to recapitalise the banks, the board at HBOS should then have taken more time to consider the options.

He supports the initiative by top rank bankers Sir Peter Burt and Sir George Mathewson to take over the running of HBOS and examine alternatives to the Lloyds TSB takeover; and he has refused to confirm or deny that the Bank of China is a potential bidder for the bank.

First Minister tells BBC time for rethink on HBOS – as Burt and Mathewson develop independence initiative

First Minister, Alex Salmond, Speaking on BBC Radio’s Today programme this morning, that the present circumstances in the banking industry indicate that HBOS could be helped into independence rather than into the Lloyds TSB takeover. He said that the picture of the financial world is now different from the picture when the Lloyds deal was rushed onto the table.

Mr Salmond said: ‘if the public money is going in to support the financial sector then it’s reasonable to find out whether we can do that and avoid consequences like thousands of job losses, the loss of decision-making and what we already know from the Office of Fair Trading – a substantial diminution of competition throughout the economy, affecting businesses and households’.

Sir Peter Burt and Sir George Mathewson are pursuing their initiative, reported earlier, to be appointed together to manage the bank into independence and to recruit credible senior management to take their places as soon as possible. They say they have no deal to offer, but unchallenged experience to take the bank back to stability, in contrast to the current HBOS board which has brought the bank to its knees.

The failed HBOS Board has rejected the Burt/Mathewson offer saying that HBOS will be stronger as part of a superbank with Lloyds. However, Mr Salmond’s point is that the creation of the superbank is recognised to be anti-competitive and was accepted only as an emergency measure to save HBOS. If such a measure is now avoidable, it is in the interests of the banking industry at large that an alternative option be considered seriously.

Of course – for Scotland and for Yorkshire, the issue of job protection in these difficult times is a major factor in the attraction of an independent HBOS.

Sir Peter and Sir George have one immediate objective – to see the HBOS books in order to determine its current situation. So far only Lloyds and the FSA have seen the books – not a situation enabling alternative bids to come forward.
The key priority in the Burt / Mathewson plan is to get an extraordinary meeting of HBOS shareholders called. They need the support of only 10% of the shareholders to achieve this – around half of the small private investors. However the two men do not have access to the identities and addresses of HBOS investors so cannot contact them direct.
They are planning to launch a website today which will be the point of contact between the and the HBOS shareholders. It is to be live tonight and we will publish the address when it is known.