During the year 1934, a sister organization to the Business Historical Society, known as the Council for the Preservation of Business Archives, was formed in London, England. The Council officially came into being on May 11, 1934 when a group of influential men of England gathered at the London School of Economics and Political Science for the Foundation meeting. A great deal of preliminary work had been done in the preceding two or three years, but the organization meeting was the first public notice given the enterprise.