Mosman's red and white hooped racing colours date back to 1873 when the Mercantile Rowing Club was founded on the west side of Sydney's Circular Quay at Dawes Point.

Mercantile enjoyed a strong patronage but began to struggle in the 1890s and sustained losses when it opened an unsuccessful branch shed at Parramatta.

Boating and ferry traffic made this location less than ideal and from the 1950s senior training was done from Pearl Bay at The Spit near Mosman.

[2] From 1956 the club owned bushland property at Killarney Heights on the foreshore of Middle Harbour with water access looking across to Castlecove.

[3] In 1930 the Mosman VIII was chosen in toto as the state representative eight for New South Wales in the Kings Cup at the Australian Rowing Championships.