GraceKennedy Group - Where We've Been - Early Adventure & Financial Results 1922 - 1950

Early Adventures 1922 to 1939
An early and important concern of the new Company was office accommodation and warehousing facilities. The Grace building at 64 Harbour Street contained room to spare, but wharfage was inadequate. In March 1923, At A Directors’ Meeting. Dr. Grace raised the matter. He proposed that the Company should enter into a joint agreement with the Jamaica Fruit and Shipping Company for the lease from Grace, New York, of 64 Harbour Street, only part of which was, in fact occupied and leased by Grace, Kennedy; and for building a wharf and improving the premises. The cost of building and improvements would be equally shared, each party putting up £4.000. He proposed that Grace, Kennedy should raise this amount by the distribution of 20 shares pro rata to existing shareholders, which would yield £2,000, and by borrowing £2,000 on the security of the real estate of the Company’s branch in Montego Bay.
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