Upon her completion in July 1926, Xylonite was delivered to her proud owner Frederick William Horlock, often referred to as F.W. Horlock. He had the pleasure of ownership for the first ten years.
Xylonite had been launched with the name BX, but the name was quickly changed to Xylonite after her first skipper refused to sail her because he didn't like the name.
On the 30th October 1936 Xylonite was sold by F.W. Horlock to Marcus Frederick Horlock and Walter Richard Horlock.
Exactly two years later on 31st October 1938 she officially became the property of M.F. Horlock and Company Ltd.
Xylonite remained under the Horlock family ownership until August 1958.