The role of British managing agencies in Bengal coal mining at the turn of the century is reviewed. The consequences of the managing agency system as a form of capital organisation in Bengal on the goals and rate of industrialisation in Bengal (and in India) are investigated for the example of coal mining. After a historical outline, the development of Indian coal mining, the organisational structure of the managing agencies, the structure of on average Indian colliery at the turn of the century, and the development of the Andrew Yule and Co. Managing Agency are discussed. The behaviour of the Katras-Jherria Coal Company and its associates, the Bengal Coal Company, and the consequency system on Bengal's economic development are described.