The
Danish East India Company was dissolved in 1729. Some of Copenhagen's leading merchants responded to its dissolution by creating two trading societies, one for the Indian trade and another one for the new and promising China trade. On 20 April 1730, the two societies were merged to form the Danish Asiatic Company. The reformed interim company opened trade with
Qing China at
Canton. The first expedition went badly, with
Den gyldne Løve lost with its cargo of silver off
Ballyheigue,
Ireland, on the outbound journey. Local landowners held the silver at their estate and pursued a salvage claim, but a gang of locals overpowered the Danish guard and made off with the hoard, causing a diplomatic row between Denmark-Norway and
Great Britain. The
Cron Printz Christian returned from the company's first successful expedition to Canton in 1732. With the royal licence conferred in 1732, the new company was granted a 40-year monopoly on all Danish trade east of the
Cape of Good Hope. Before 1750, it sent 27 ships; 22 survived the journey to return to Copenhagen. Denmark sold its remaining colonies in mainland India to Britain in 1845, and the
Danish Gold Coast to the British in 1850. ==Management==