West Chepe, from time immemorial, has been the most important market of the City. It was formerly, say in the twelfth century, a large open area. This area contained no fewer than twenty-five churches, of which nine still exist. The churches are dotted about in apparent disorder, which can be partly explained. For the market of Chepe was extended in fact from the Church of St. Michael le Querne on the west, to that of St. Christopher le Stock on the east, and lay between the modern Gresham Street in the north and Watling Street in the south. It is ordered in _Liber Albus_ that all manner of victuals are to be sold between the kennels of the streets. The so-called streets were narrow lanes, many of which remain to the present day. There was, however, a principal way, not a street in our sense of the word, on either side of which, on the north and on the south, as well as along the middle, were stalls and shops. These stalls were at first mere wooden sheds; the goods were exposed by day and removed at night; in course of time they became permanent shops with living rooms at the back and an upper chamber. Among the sheds stood “selds.” The seld was a building not unlike the present Covent Garden Market, being roofed over and containing shops and store-houses. Several “selds” are mentioned in the thirteenth and fourteenth centuries. These were the “great-seld” in the Mercery, called after the Lady Roisia de Coventre. This was near the house of St. Thomas of Acon, where now stands the Mercers’ Hall. There was also the “great seld of London,” in the ancient parish of St. Pancras, therefore on the south side of Cheapside. There was again the “seld of Fryday Street serving for foreign tanners, and time out of mind occupied with these wares”; and there was a seld held in 1304 by John de Stanes, mercer.