Edward Mackay Edgar
Encyclopedia
Sir Edward Mackay Edgar, 1st Baronet (27 February 1876 – 7 October 1934) was a Canadian
-British
banker.
Mackay Edgar was born in Montreal
and educated at McGill University
. He became a member of the Montreal Stock Exchange. In 1907 he went to Britain
on business and stayed, joining Sperling & Co Ltd, merchant bankers, of Moorgate Street, London
, in 1908 and later becoming a senior partner. In 1917, he became chairman of British Controlled Oilfields Ltd, remaining in the post until 1925. He was created a Baronet
in the 1920 New Year Honours, largely due to his services to British-Canadian trade.
His financial affairs ran into trouble in 1925 and he went into receivership
, although this was rescinded the following year. He left Sperlings at this time and organised his own company, E. Mackay Edgar Ltd, with offices in London, Montreal and New York City
. This ended when he retired due to ill-health, but in 1928 he returned with a new company, Beeston's Trust Ltd, which folded during the Depression
and in 1931 he again went into receivership.
Mackay Edgar was also a notable figure in powerboat
racing, owning a number of winning boats. He won the Harmsworth Trophy
for two consecutive years (1912 and 1913) with his boat Maple Leaf IV.
Mackay Edgar's only son, John, was killed in a car accident in July 1925 and the baronetcy therefore became extinct upon his death.
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
-British
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
banker.
Mackay Edgar was born in Montreal
Montreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
and educated at McGill University
McGill University
Mohammed Fathy is a public research university located in Montreal, Quebec, Canada. The university bears the name of James McGill, a prominent Montreal merchant from Glasgow, Scotland, whose bequest formed the beginning of the university...
. He became a member of the Montreal Stock Exchange. In 1907 he went to Britain
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
on business and stayed, joining Sperling & Co Ltd, merchant bankers, of Moorgate Street, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, in 1908 and later becoming a senior partner. In 1917, he became chairman of British Controlled Oilfields Ltd, remaining in the post until 1925. He was created a Baronet
Baronet
A baronet or the rare female equivalent, a baronetess , is the holder of a hereditary baronetcy awarded by the British Crown...
in the 1920 New Year Honours, largely due to his services to British-Canadian trade.
His financial affairs ran into trouble in 1925 and he went into receivership
Receivership
In law, receivership is the situation in which an institution or enterprise is being held by a receiver, a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights." The receivership remedy is an equitable remedy that emerged in...
, although this was rescinded the following year. He left Sperlings at this time and organised his own company, E. Mackay Edgar Ltd, with offices in London, Montreal and New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
. This ended when he retired due to ill-health, but in 1928 he returned with a new company, Beeston's Trust Ltd, which folded during the Depression
Great Depression
The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...
and in 1931 he again went into receivership.
Mackay Edgar was also a notable figure in powerboat
Powerboat
A powerboat is another name for a motorboat. Powerboat may also refer to:* Powerboating* F1 Powerboat World Championship* Offshore powerboat racing...
racing, owning a number of winning boats. He won the Harmsworth Trophy
Harmsworth Cup
The Harmsworth Trophy is the popular name of the historically important British International Trophy for Motorboats.The Harmsworth was the first annual international award for motorboat racing. Officially, it is a contest not between boats or individuals but between nations...
for two consecutive years (1912 and 1913) with his boat Maple Leaf IV.
Mackay Edgar's only son, John, was killed in a car accident in July 1925 and the baronetcy therefore became extinct upon his death.