amount of power generated was 467 million units. The Madras Stock Exchange was established in Madras city in 1920 with a strength of 100 members but gradually faded away and membership had reduced to three by 1923 when it had to be closed down. Nevertheless, the Madras Stock Exchange was successfully revived in September 1937 and was incorporated as the Madras Stock Exchange Association Limited. EID Parry, Binny and Co. and Arbuthnot Bank were the largest private-owned business corporations at the turn of the 20th century. EID Parry manufactured and sold chemical fertilizers and sugar while the Binnys marketed cotton garments and uniforms manufactured at its spinning and weaving facility, the Buckingham and Carnatic Mills in Otteri. Arbuthnot, owned by the Arbuthnot family, was the largest bank in the Presidency until its crash in 1906. Reduced to penury, disillusioned former Indian investors established the Indian Bank with funds donated by Nattukottai Chetties. Between 1913 and 1914, Madras had 247 companies. In 1947, the city led in the establishment of registered factories but employed only 62% of the total productive capital. The first Western-style banking institution in India was the Madras Bank which was established on 21 June 1683, with a capital of one hundred thousand pounds sterling. This was followed by the opening of the Carnatic Bank in 1788, the Bank of Madras in 1795 and the Asiatic Bank in 1804. In 1843, all the banks were merged to form the Bank of Madras. The Bank of Madras had branches in all the presidency's major cities and princely states including Coimbatore, Mangalore, Calicut, Alleppy, Cocanada, Guntur, Masulipatnam, Ootacamund, Negapataam, Tuticorin, Bangalore, Cochin and Colombo in Ceylon. In 1921, the Bank of Madras merged with the Bank of Bombay and the Bank of Bengal to form the Imperial Bank of India. In the 19th century, the Arbuthnot Bank was one of the largest privately owned banks in the Presidency. The City Union Bank, the Indian Bank, Canara Bank, Corporation Bank, Nadar Bank, Karur Vysya Bank, Catholic Syrian Bank, Karnataka Bank, Bank of Chettinad, Andhra Bank, Vysya Bank, Vijaya Bank, Indian Overseas Bank and the Bank of Madura were some of the leading banks headquartered in the Presidency. Transport and communication In the early days of the agency, the only means of transportation were bullock-carts known as jhatkas along with palanquins. The roads connecting Madras to Calcutta in the north and the