One of the first tea auctions in India took place on this day in the city.
According to the website of the Calcutta Tea Traders Association, on March 24, 1862, 100 lots consisting of 462 chests were auctioned at the New Mart, 8, Mission Row, by R. Thomas & Co. From that time, auctions became a regular feature at this address.
Till 1886, the auctions were held under the auspices of the Calcutta Tea Brokers Association. From 1887, they were brought under the jurisdiction of the Calcutta Tea Traders Association. The first tea auction in India had been held on December 27, 1861, under the instructions of R. Thomas & Company, general brokers, by the firm Mackenzie Lyall at No. 2, Mission Row, Kolkata.
On February 19, 1862, a second auction was held and conducted by the firm of W. Moran & Co at No. 5, Bankshall Street. Shortly after this, February 25, 1862, a third auction took place at the old Mint Mart by W. Moran & Co on behalf of the Assam Tea Co and Jorehaut Tea Co, the website informs. On September 15, 1886, the Calcutta Tea Traders Association was formed.
