England -- Social life and customs; Gambling -- Great Britain
The first mention of the Stock Exchange as such, is in the _Daily
Advertiser_ of Thursday, July 15, 1773. “On Tuesday, the Brokers and
others at New Jonathan’s came to a Resolution that, instead of its
being called New Jonathan’s, it is to be named the Stock Exchange,
which is to be painted over the door.” And here they abode until, in
1801, the Stockbrokers laid the first stone of a building of their own:
having purchased Mendoza’s boxing room, the Debating Forum of Capel
Court, and buildings contiguous to that site.
On May 5, 1803, an attempt was made to hoax the Stock Exchange, which
was partially successful. On that day, at half-past eight in the
morning, a man, booted and spurred, and having every appearance of
having come off a long journey, rushed up to the Mansion House, and
inquired for the Lord Mayor, saying he was a messenger from the Foreign
Office, and had a letter for his lordship. When he was told he was not
within, he said he would leave the letter, and begged the servant to
place it where the Lord Mayor should get it the moment of his return;
which duly happened. The letter ran thus:
“Downing Street, 8 A.M.
“To the Right Hon. the Lord Mayor,—
“Lord Hawkesbury presents his compliments to the Lord Mayor, and is
happy to inform him that the negotiations between this country and the
French Republic have been amicably adjusted.”
Thinking it genuine, the Lord Mayor published it, and wrote to Lord
Hawkesbury, congratulating him; but the forgery was soon exposed.
Meanwhile, Consols opened at 69, and, before noon, were over 70, only
to fall, when the truth came out, to 63. Of course, all transactions,
that day, were made null and void. Although £500 reward was offered,
nothing was ever heard of the perpetrators of this swindle.
Under date of Aug. 20, 1806, the _Annual Register_ says: “A most
atrocious fraud was committed on a number of gentlemen at the Stock
Exchange, it being the settling day, by a foreign Jew, of the name of
Joseph Elkin Daniels, who has, for a long time, been a conspicuous
character in the Alley. Finding that, in consequence of the great
fluctuation of Omnium, he was not able to pay for all he had purchased
at an advanced price, he hit upon a scheme to pocket an enormous sum
of money, and with which he has decamped; £31,000 Omnium was tendered
to him in the course of Thursday; in payment for which he gave drafts
on his bankers, amounting to £16,816, 5s., which were paid into the
respective bankers of those who had received them, to clear in the
afternoon. Having gained possession of the Omnium, he sold it through
the medium of a respectable broker, received drafts for it, which he
cleared immediately, and set off with the produce. On his drafts being
presented, payment was refused, he having no effects at his bankers.”
Public-domain text, read in full here on John Shaqi.
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