Pacific Islands Company Ltd
In 1897 John T. Arundel & Co., merged its business with that of the trading and plantation firm of Henderson and McFarlane to form the Pacific Islands Company Ltd (‘PIC’). The company was based in London with its trading activities in the Pacific. The Chairman of the PIC was Lord Stanmore, formerly Sir Arthur Gordon, Governor of Fiji and first High Commissioner for the Western Pacific. J. T. Arundel was the vice-chairman.
The PIC continued to expand its plantation interests and in 1899, acquired a license to develop coconut plantations on Birnie Island, which is geographically part of the Phoenix Islands and is part of Kiribati, with the PIC acquiring licenses to develop coconut plantations in the Solomon Islands.
Despite this attempt to broaden the operations of the company the company remained chronically short of capital throughout its existence and was lent money from time to time by its Directors.
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