Abstract
This article is largely based on the surviving records of two Scottish tramp shipping firms, Hugh Hogarth & Sons and Lyle Shipping, the former privately owned throughout its history and the latter later a public company. It traces their birth and growth up to what became, after 1958 when ocean freight rates dropped, an increasingly difficult operational environment for British shipping firms dealing with increased international competition, political and economic volatility and financial pressures. As family owners died, chartered accountants increasingly took control of company boards to negotiate credit terms, arrange loans and overdrafts, and to chase tax-free allowances and investment grants from governments. In this regard, Hogarth and Lyle were no different to other British shipping companies.
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