19th century: Puente Colgante and beyond
Ynchausti y Compañía maintained offices and holdings on both sides of the Pasig River. In the 1840s, a decision was made by the Spanish government to develop much needed infrastructure and Ynchausti y Compañía was awarded the franchise to construct the Puente Colgante soon after. This bridge spanned the Pasig River and connected the Binondo area (Muella de la Industria where the headquarters and warehouses of Ynchausti y Compañía were located) and Intramuros (the original walled city of Manila). The bridge was designed and built by Matias Menchacatorre y Compañía, a Spanish-Basque engineering firm.[3]
The original name of the bridge was Puente de Clavería, named after the Governor-General of the Philippines Narciso Clavería (a Basque from San Sebastián, Gipuzkoa). However, because of its modern and unique design it became more commonly known as the Puente Colgante, or Hanging Bridge. This bridge is notable because it was the first steel suspension bridge in Asia, and one of the first in the world. Construction on it began in 1849 and was completed in 1852. Tolls from pedestrian and carriage use of the bridge was an important, early source, of income from Ynchausti y Compañía.
The Puente Colgante was a visible sign of the affluence and influence of the Ynchausti family. By 1854, Ynchausti y Compañía began to expand its interests and scope. José Joaquín de Ynchausti was one of the founding members, director, and primary stockholder of Banco Español-Filipino de Isabel II (presently, the Bank of the Philippine Islands).
The Tanduay Distilery and Hagonoy Distillery were also founded by the Ynchausti family, in cooperation with Valentín Teus e Yrissary (who was a trusted agent, manager, and minority shareholder in Ynchausti y Compañía). Tanduay became one of the most decorated Philippine companies of the 19th century, winning numerous international awards for its rum. Tanduay, now owned by the LT Group, remains a popular beverage manufacturer. Famously, the most prominent example of Tanduay's roots is that every bottle of rum still carries the Ynchausti family crest even today. While there have been stories to the contrary, such as the logo being 'made up', the truth is that the Ynchausti family used their coat of arms for Tanduay's logo.[4]
Additional interests of Ynchausti y Compañía were in sugar, abaca production, paints (YCO Paints and YCO Floor Wax) and shipping. By the late 19th century Ynchausti Shipping was the largest inter-island shipping company in the Philippines. Ynchausti y Compañía was one of the largest sugar producers as well, becoming the largest during the 1900s. Among its sugar assets was the famed sugar central, La Carlota. Almost all of its sugar assets were located in Negros. It was the only domestic owned company that was the equal, or greater, in terms of production as foreign sugar companies. It also spearheaded the development of Manila hemp (abaca) rope, becoming the single-largest producer in the Philippines. In Manila, it owned vast amounts of land, specifically along what was known as Calle Real (Roxas Boulevard today).[5]
José Joaquín de Ynchausti died in 1889, leaving management of the firm to his two sons, Rafael and Joaquín José. José Joaquín also had a daughter, Clotilde, who married a prominent Manila-based French businessman by the name of Arturo Vidal Sáenz, eventually settled in France.
Under the dual management of the siblings Rafael and Joaquín José, Ynchausti y Compañía expanded its interests throughout the Philippines, becoming the largest conglomerate of its day. They successfully shepherded it through the Philippine Revolution, supporting the First Philippine Republic by buying war bonds and paying taxes. The brothers were also able to successfully navigate the early American colonial era, maintaining the company's status as a major economic force. Starting in the mid-19th century and continuing until the company was dissolved, the Ynchausti brothers were supported by their professional managers and minority shareholders, and lawyers.
Two prominent Philippine families got their start either working for the Ynchausti family or as employees and (later) stockholders of Ynchausti y Compañía. These are the Araneta family (Gregorio Araneta and his son Salvador Araneta were trusted personal and corporate lawyers and acted as agents representing the interests of the family) and the Elizalde family. Members of the Elizalde family migrated to the Philippines to act as managers in Ynchausti y Compañía.
