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- George_Colebrooke abstract "Sir George Colebrooke, 2nd Baronet (14 June 1729 – 5 August 1809), of Gatton in Surrey, was an English merchant banker, chairman of the East India Company and Member of Parliament, who bankrupted himself through unwise speculations.Colebrooke was the third son of James Colebrooke, a London banker, and was educated at Leiden University. After the death of his father and an older brother he was left in sole charge of the family bank in Threadneedle Street, and invested some of his wealth in buying up control of the borough of Arundel in Sussex, where the family lived. Arundel was not a classic pocket borough, where the power to return MPs was literally tied to property rights that could be freely bought and sold, but a thoroughly corrupt one where bribery was routine and where maintaining influence of the elections required constant expenditure. Nevertheless, Colebrooke kept control for twenty years, sitting himself as its MP from 1754 to 1774 and for most of the period being able to choose also who held the other seat. Meanwhile his brother, James had bought control of one seat in another rotten borough, Gatton in Surrey, for £23,000, and was also sitting in Parliament. Both brothers were at first Opposition Whigs, but switched support to the Duke of Newcastle's government and were rewarded in 1759 with the creation of a baronetcy for James (who had daughters but no son) and a special remainder of the baronetcy to George. When James died in 1761, George inherited both the baronetcy and the Lordship of the Manor at Gatton with its guaranteed control of one of the parliamentary seats there.More valuably, however, Colebrooke's support for Newcastle ensured his eligibility for lucrative government contracts. By 1762, he held two of these contracts, one for remitting money to the British forces in the American colonies and the other for victualling the troops there. But with Newcastle's fall from power in that year, Colebrooke was immediately ejected from one contract by the new government, and the other was not renewed when it expired in 1765. Though offered compensation or new contracts on the formation of the Rockingham government, he preferred instead to accept a well-paid post as chirographer to the Court of Common Pleas. From this point onwards although he retained his seat in Parliament he was rarely active there.Colebrooke's business interests were diverse. He speculated in land, buying large estates in Lanarkshire, and purchased plantations in Antigua (where his wife already had interests), Grenada and Dominica; he was also a member of a syndicate to settle the Ohio Valley in 1768, and had interests in New England. (Colebrook, New Hampshire is named in his honour.) Two interests in particular, however, led to his eventual downfall: his involvement in the East India Company and his speculations in raw materials.Colebrooke was a Director of the East India Company from 1767–1771 and 1772–1773, Deputy Chairman 1768-1769 and was elected Chairman three times, in 1769, 1770 and 1772. His final year in office was a disastrous one: the company got into financial difficulties (which led to the passing of the Regulating Act of 1773), he was accused of speculating in its stock while Chairman, and was left heavily in debt to a number of the other leading figures in the company, partly through arrangements to procure votes in the Company's elections. He lost much larger sums, however, speculating on prices of raw materials - hemp, flax, lead, logwood and alum among others. In 1771 he lost £190,000 dealing in hemp; from 1772 he was attempting to corner the world's supply of alum, buying up mines in Yorkshire and Lancashire, and saw much of the remainder of his fortune swallowed up when the market collapsed as part of a wider financial crisis.At first, Colebrooke was able to stay in business with assistance from the Bank of England, but his bank temporarily stopped payment on 31 March 1773, and permanently (after three years in the control of trustees appointed by his creditors) on 7 August 1776. Yet at the same period he was spending considerable sums on the rebuilding of his London house in Soho Square. Most of his property, including his share in the rotten borough at Gatton, was sold to meet his liabilities, and a commission of bankruptcy was taken out against him in 1777.He retired to Boulogne-sur-Mer, so poor that the East India Company had to vote him a pension, but later returned to England and managed eventually to pay his creditors in full so that some inheritance was left for his descendants.He married Mary Gayner, daughter of Peter Gayner of Antigua, in 1754, and they had three sons and three daughters: Mary Colebrooke (born 1757) George Colebrooke (1759–1809) James Edward Colebrooke (1761–1838), who succeeded to the baronetcy Harriet Colebrooke (1762–1785) Louisa Colebrooke (born 1764) Professor Henry Thomas Colebrooke (1765–1837)".
- George_Colebrooke birthDate "1729-06-14".
- George_Colebrooke birthYear "1729".
- George_Colebrooke deathDate "1809-08-05".
- George_Colebrooke deathYear "1809".
- George_Colebrooke wikiPageExternalLink report.aspx?compid=41059.
- George_Colebrooke wikiPageExternalLink www.thepeerage.com.
- George_Colebrooke wikiPageExternalLink p22699.htm.
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- George_Colebrooke wikiPageLength "7931".
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- George_Colebrooke wikiPageWikiLink Alum.
- George_Colebrooke wikiPageWikiLink Antigua.
- George_Colebrooke wikiPageWikiLink Arundel_(UK_Parliament_constituency).
- George_Colebrooke wikiPageWikiLink Bank_of_England.
- George_Colebrooke wikiPageWikiLink Baron_Colebrooke.
- George_Colebrooke wikiPageWikiLink Boulogne-sur-Mer.
- George_Colebrooke wikiPageWikiLink Category:1729_births.
- George_Colebrooke wikiPageWikiLink Category:1809_deaths.
- George_Colebrooke wikiPageWikiLink Category:Baronets_in_the_Baronetage_of_Great_Britain.
- George_Colebrooke wikiPageWikiLink Category:Leiden_University_alumni.
- George_Colebrooke wikiPageWikiLink Category:Members_of_the_Parliament_of_Great_Britain_for_English_constituencies.
- George_Colebrooke wikiPageWikiLink Category:Whig_(British_political_party)_MPs.
- George_Colebrooke wikiPageWikiLink Charles_Watson-Wentworth,_2nd_Marquess_of_Rockingham.
- George_Colebrooke wikiPageWikiLink Chirographer_(Court_of_Common_Pleas).
- George_Colebrooke wikiPageWikiLink Colebrook,_New_Hampshire.
- George_Colebrooke wikiPageWikiLink Court_of_Common_Pleas_(England).
- George_Colebrooke wikiPageWikiLink Dominica.
- George_Colebrooke wikiPageWikiLink East_India_Company.
- George_Colebrooke wikiPageWikiLink Edward_Kimber.
- George_Colebrooke wikiPageWikiLink Flax.
- George_Colebrooke wikiPageWikiLink Garton_Orme.
- George_Colebrooke wikiPageWikiLink Gatton,_Surrey.
- George_Colebrooke wikiPageWikiLink Gatton_(UK_Parliament_constituency).
- George_Colebrooke wikiPageWikiLink George_Newnham.
- George_Colebrooke wikiPageWikiLink Grenada.
- George_Colebrooke wikiPageWikiLink Hemp.
- George_Colebrooke wikiPageWikiLink Henry_Thomas_Colebrooke.
- George_Colebrooke wikiPageWikiLink James_Colebrooke.
- George_Colebrooke wikiPageWikiLink John_Bristow.
- George_Colebrooke wikiPageWikiLink John_Stewart_(died_1781).
- George_Colebrooke wikiPageWikiLink Lanarkshire.
- George_Colebrooke wikiPageWikiLink Lancashire.
- George_Colebrooke wikiPageWikiLink Lauchlin_Macleane.
- George_Colebrooke wikiPageWikiLink Lead.
- George_Colebrooke wikiPageWikiLink Leiden_University.
- George_Colebrooke wikiPageWikiLink London.
- George_Colebrooke wikiPageWikiLink Lord_of_the_manor.
- George_Colebrooke wikiPageWikiLink Member_of_parliament.
- George_Colebrooke wikiPageWikiLink New_England.
- George_Colebrooke wikiPageWikiLink Ohio_River.
- George_Colebrooke wikiPageWikiLink Regulating_Act_of_1773.
- George_Colebrooke wikiPageWikiLink Rotten_and_pocket_boroughs.
- George_Colebrooke wikiPageWikiLink Sir_James_Colebrooke,_3rd_Baronet.
- George_Colebrooke wikiPageWikiLink Soho_Square.
- George_Colebrooke wikiPageWikiLink Surrey.
- George_Colebrooke wikiPageWikiLink Sussex.
- George_Colebrooke wikiPageWikiLink Theobald_Taafe.
- George_Colebrooke wikiPageWikiLink Thomas_Brand_(junior).
- George_Colebrooke wikiPageWikiLink Thomas_Griffin_(Royal_Navy_officer).
- George_Colebrooke wikiPageWikiLink Thomas_Pelham-Holles,_1st_Duke_of_Newcastle.
- George_Colebrooke wikiPageWikiLink Threadneedle_Street.
- George_Colebrooke wikiPageWikiLink Whigs_(British_political_party).
- George_Colebrooke wikiPageWikiLink Yorkshire.
- George_Colebrooke wikiPageWikiLinkText "George Colebrooke".
- George_Colebrooke after Thomas_Brand_(junior).
- George_Colebrooke after "George Newnham".
- George_Colebrooke before Garton_Orme.
- George_Colebrooke before Theobald_Taafe.
- George_Colebrooke date "February 2013".
- George_Colebrooke dateOfBirth "1729-06-14".
- George_Colebrooke dateOfDeath "1809-08-05".
- George_Colebrooke failed "y".
- George_Colebrooke name "Colebrooke, George".
- George_Colebrooke shortDescription "British politician and businessman".
- George_Colebrooke title Baron_Colebrooke.
- George_Colebrooke title "'''".
- George_Colebrooke title "John Bristow 1761-1768".
- George_Colebrooke title "John Stewart 1771-1774".
- George_Colebrooke title "Lauchlin Macleane 1768-1771".
- George_Colebrooke title "Member of Parliament for Arundel".
- George_Colebrooke title "with Thomas Griffin 1754-1761".
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- George_Colebrooke years "'''1761-1809".
- George_Colebrooke years "1754".
- George_Colebrooke description "British politician and businessman".