New Hucknall Colliery

Company Executives

The death of William Muschamp in December 1875 meant that Huthwaite colliery founder never got chance to even see work commencing. He'd personally invested a considerable sum, so in best family interest, the appointed executors wished to assure at least making some profitable return. Figures quoted here are largely based upon the authoritative 1971 publication entitled Mining in the East Midlands by A R Griffin

Initial costs covered by the
late W Muschamp into 1876

Natham Mellors £1,500
Mrs Miller £1,450
John T Boot £1,400
Society of Friends £120
Premium to Vendor £6,632
Labour Wages £1,169
J Boot & Sons £61

Compiled listing only gives example of major expenses initally incurred by William Muschamp. Purchasing necessary mineral rights would add payments to various other freeholders, plus annual royalty rents. Already committed to employing labour and professional services, death did not stop the balance rising through the next year. Taking into full account all other items like instruments and tools, grand total went above £20,000.

In todays money, that figure could barely buy a modest family saloon car. To appreciate its value then, one may consider the wages bill included a manager who claimed highest pay on a good annual salary of £150. But that investment was just the beginning, and executors to Muschamp's will fully repayed his account before registering this company business.

Partner shares valued 30th June 1878

William Muschamp (Executors) £16,265
Emerson Mushcamp Bainbridge £8,250
Cuthburt Bainbridge £7,000
Thomas E. Fenwick £6,000
J. M. Vickers £5,000
Robert Robson £5,000
Rounded to nearest £ Totals = 47,515

A push to sink two pit shafts by 1877 was to be further financed under the private partnership of six main investers. Named members indicates family interest linked the major partners. Their shares by end of June 1878 totalled £47,515 15s, and by year end had risen to £52,270 after finally raising the first coals.

The New Hucknall Colliery Company Limited was incorporated at the start of 1879. Emerson Bainbridge had purchased part of the Muschamp Executors stock to take up leading position as the company Chairman. There were three classes of Company shares, and adding Mr G.B. Brainbridge as the only named minor shareholder to the existing six members made up the original capital shares valued at £64,981.

New Hucknall Colliery Company Limited

Latest safety regulations necessitated a certified colliery manager be employed, and Chairman Emerson Muschamp Bainbridge appears making wise choice by appointing a 33 year old Simeon Watson. Mr Watson had not only sat the first examination held in Derby, but was already a qualified mineral surveyor of great experience. Born at Tansley, his career began with the Butterley Coal & Iron Co. Lrd. where he was soon placed in full charge their surveying department. Stepping up to become chief assistant to Mr R.G. Coke of Chesterfield, he'd spent the last nine loyal years covering all aspects of mining around the country.

Written 12 Sep 14 Revised 12 Sep 14 © by Gary Elliott