Question: When was the company, of which Ernest Walter Hives was one time chairman, founded ?
Context: Rolls-Royce Limited owned a British luxury car and aero engine manufacturing business founded in 1904 by Charles Stewart Rolls and Frederick Henry Royce.  Rolls-Royce Limited was incorporated on 15 March 1906 as a vehicle for their ownership of their Rolls-Royce business.  Their business quickly developed a reputation for superior engineering quality and for manufacturing the "best car in the world", building on F H Royce's existing standing.  Rolls-Royce became a leading manufacturer of piston aero-engines after it was brought into building them by the First World War. Sigurd Allern (born 5 September 1946) is a Norwegian media theorist and the first professor of journalism at the University of Oslo.  He was also one of the central people in starting the Workers' Communist Party of Norway in the early 1970s, and was the first chairman of the party between 1973 and 1975 and at the same time chairman of the Red Electoral Alliance.  He was also editor-in-chief of "Klassekampen" in the periods 1969-1970 and 1979-1995. Ernest Walter Saunders (born 21 October 1935) is a British former business manager, best known as one of the "Guinness Four", a group of businessmen who attempted fraudulently to manipulate the share price of the Guinness company.  He was sentenced to five years' imprisonment, but released after 10 months as he was believed to be suffering from Alzheimer's disease, which is incurable.  He subsequently made a full recovery. Nicholas André (Ambrose) Argenti (15 April 1896 – 12 April 1961) was a British stockbroker who served as a captain in the British Army during the First World War and a Squadron Leader in the Royal Air Force in the Second.  He was at one time Chairman of the Nuclear Investment Company Limited. Ernest Walter Hives, 1st Baron Hives (21 April 1886 – 24 April 1965), was the one-time head of the Rolls-Royce Aero Engine division and chairman of Rolls-Royce Ltd. David Ernest Walter (born 1939) is a New Zealand politician and journalist.  He is the immediate past Chairman of Taranaki Regional Council, past Chairman of Stratford County Council, and the first Mayor of Stratford District Council. Sir Walter George Kent CBE (1858 – 11 November 1938) was chairman and managing director of the engineering firm George Kent Ltd which was started by his father George Kent in 1838.  He was awarded the CBE in 1918 and was knighted in 1929 for political services; he was at the time chairman of the Luton Conservative Association. Aubrey Lyle Dunn, Sr. (March 25, 1928 – August 23, 2012), was a Democratic state senator from New Mexico for fifteen years, retiring in 1980.  He was at one time Chairman of the State Senate Finance Committee.  He was also partial owner of the "Alamogordo Daily News".  He was born in Alamogordo, New Mexico. Derrick Harold Robins (27 June 1914 – 3 May 2004), often known as "D. H. Robins", was an English cricketer and sports promoter, at one time chairman of Coventry City Football Club.  He was born in Bexleyheath, Kent. The Underhill Society of America is a non-profit family genealogical society that was organized in Brooklyn, New York, on June 16, 1892.  The Society was incorporated in 1903.  The purpose of the Underhill Society of America is to perpetuate the memory of Captain John Underhill and his descendants.  Captain John Underhill was an important figure in Colonial America, having arrived in 1630 to form the Colonial militia of the Massachusetts Bay Colony.  He and his descendants went on to serve in important roles in American life from the military, to politics, business, finance, and industry.  Myron Charles Taylor, an Underhill descendant and one time Chairman and CEO of U.S. Steel, made a major bequest to support the work of the Underhill Society of America and related organizations including the Underhill Burying Ground and the New York Genealogical and Biographical Society.  The Underhill Society of America collected and makes available information on genealogy, biography, and history, particularly as it relates to Captain John Underhill and his descendants.  Their extensive archive is available to view by appointment at 30 West Main Street in Oyster Bay, New York.  The Society also publishes periodicals and books, holds an Annual Meeting at different locations throughout the United States, and maintains an archive for the benefit of those seeking to research and learn more about the Underhill family.
Answer: 1904