Landownership became even more consolidated during the economic depression of the mid-19th century. Exports of mahogany peaked at over 4 million linear metres in 1846 but fell to about 1.6 million linear meters in 1859 and 8,000 linear meters in 1870, the lowest level since the beginning of the century. Mahogany and logwood continued to account for over 80 percent of the total value of exports, but the price of these goods was so low that the economy was in a state of prolonged depression after the 1850s. Major results of this depression included the decline of the old settler class, the increasing consolidation of capital and the intensification of British landownership. The British Honduras Company emerged as the predominant landowner of the Crown colony. The firm originated in a partnership between one of the old settler families and a London merchant and was registered in 1859 as a limited company. The firm expanded, often at the expense of others who were forced to sell their land.