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The Telephone Rentals story goes back to 1902 when its fore-runner began the renting of simple internal telephone systems.

But the post-war boom came to an end and the work now provided by the installation companies was not sufficient to prevent large losses at the new factory.The name was changed to the Telephone Manufacturing Company (1920) Ltd, all shares in the rental companies purchased and others companies were established around the UK and in Brussels, Paris and Melbourne.The freehold of TMC's wartime premises at Dulwich, and some adjoining land, was purchased and a modern building erected for manufacturing and experimental research.When the bank refused to advance them a further 60,000, FT stormed around to the Westminster Bank, who immediately took over the overdraft without requiring any security!This kept the company's head above water until a hectic, but short-lived, boom in 1929.

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