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the early 1840s the main partners were J.H. Vivian and his son H. Hussey Vivian (later Lord Swansea) who was soon to be manager of the works. At this time J.H. Vivian increased his share in the partnership and had to borrow £ 40,000 on mortgage from the Edinbugh Life Assurance Co., but he was able to repay the whole amount in 1852. Three years later, following the death of J.H. Vivian, it was reported that the other partners H. Hussey Vivian, W.G. Vivian, Edward Budd and Octavius Williams would continue the business and leave the capital undisturbed. H. Hussey Vivian assumed most of the responsibility for policy decisions, and in the same year, 1855, he also established a separate firm for nickel and cobalt production at Hafod Isha. A draft deed of the partnership shows that the members from 1868 onwards were "H. Hussey Vivian of Pare Wern near Swansea, M.P.; W. Graham Vivian of Singleton, near Swansea, esq.; Arthur Pendarves Vivian of Glenavon near Taibach, esq.; Richard Glynn Vivian of Bond Court, Wallbrook, London, esq.; Octavius Williams of Truro, Cornwall, gent.; and Edward Budd of Bond Court, Wallbrook, London, esq." In 1868 the capital of the firm was over £ 880,000 and it reached £ 1 million in 1871. By 1887 the capital was over £ 1,200,000 owned only by members of the family as follows: W.G. Vivian, £ 452,691; R.G. Vivian, £ 320,106; A.P. Vivian, £ 236,500 and H. Vivian, £ 216,467. It was stated in the same year that the "Capital required by Partnership Deeds" was £ 222,500. Vivian & Sons remained a partnership until 1914 when it became a limited liability company, but the partners appear to have been concerned about the limitation of their liabilities before this date: thus in 1905 they had signed a document instructing the manager of the Hafod Works to rectify the situation whereby "the sums on deposit on our various accounts beyond the Capital Sum of £ 225,000 and the original Share Capital sum of £ 35,000 required from each partner respectively, has been erroneously entered in the books of the concern as Extra Capital of the business instead of as a loan to the partnership bearing 5% interest. Most of the firm's capital was invested in its non-ferrous metal works. For example, the capital of £ 1,123,000, as estimated by A.P. Vivian in 1879-80, was apportioned thus: