South Bank Basic Slag Company Limited Collection

BS/SBBS/1. Corporate Records
BS/SBBS/2. Share Records
BS/SBBS/3. Financial and Accounting Records
BS/SBBS/4. Legal Records
BS/SBBS/5. Property Records

South Bank Basic Slag Company incorporated on 10th January 1922. The company formed to be slag crushers and grinders, slag and mineral sorters and washers. They also acted as manufacturers, dealers, and merchants in coke oven products and chemicals, as well as dealing in gravel, coal, coke and other mineral products. The registered offices of the company were at Cargo Fleet Ironworks.

Registered as a private company, the shares of the original capital consisted of 7,000 £1 Preference Shares and 20,000 £1 Ordinary Shares. Alexander Cross and Sons Limited were appointed the sole selling agents for the company, continuing links to the site dating back to an Agreement from 1906 between The Cargo Fleet Iron Company Limited and Alexander Cross and Sons Limited that secured the latter's rights to purchase all of the basic slag vended by Cargo Fleet.

On 6th March 1922 an Agreement saw Alexander Cross and Sons Limited sell the Slag Works at South Bank to The Cargo Fleet Iron Company Limited for £12,000. In turn, a supplemental agreement saw The Cargo Fleet Iron Company lease the works to South Bank Basic Slag Company Limited. The first Board Meeting of Directors took place under the chairmanship of Benjamin Talbot on the same day.

In 1953 the Board of Directors decided that, in light of the forthcoming denationalisation of the iron and steel industry, it would be beneficial to business for the company to enter voluntary liquidation. By means of a Special Resolution, the company was wound up. The lease for the works and the agreement for the sale of slag transferred to the parent company South Durham Steel & Iron Company Limited.