Читать книгу Recollections of a Busy Life: Being the Reminiscences of a Liverpool Merchant 1840-1910 - Forwood William Bower - Страница 9

A great change has taken place in the Liverpool Exchange. In the early 'sixties the old Exchange buildings were still in existence. The building which surrounded Nelson's monument was classic in design, with high columns surmounted by Ionic capitals and a heavy cornice. The newsroom was in the east wing, with windows overlooking on the one side Exchange Street East, and on the other the "flags." The room had two rows of lofty pillars supporting the ceiling; and there was ample room in the various bays not only for newspaper stands, but for chairs and tables, and it had very much more the appearance of a reading-room in a club than its elaborate, but less comfortable successor. On the western and northern side of the Exchange were offices with warehouses overhead. The Borough Bridewell stood in High Street, its site being now covered by Brown's Buildings, and the Sessions House occupied part of the site upon which the newsroom now stands. In the 'sixties high 'change was in the afternoon between four and five o'clock, but much business was also transacted during the morning. No merchant or broker considered that he could commence the work of the day until he had read the news on the "pillars" in the newsroom. Instead of the work on the Exchange being done by clerks, it was transacted by the principals, who considered it only respectful to appear in a tall hat and frock coat. Although in those days there may have been a little too much formality in dress, in these there is sadly too little, and with the disappearance of the tall hat and frock coat one has also to regret the abandonment of those courtly manners and that respectful consideration which gave a charm to commercial intercourse, and was not confined to the Exchange and the office, but was reflected in the home and in private life.

Merchant shipbrokers and general produce brokers transacted their business in the newsroom, while the cotton brokers, braving all weathers, were to be found on the "flags."

The present newsroom was opened in 1867, and shortly afterwards the Mayor, Mr. Edward Whitley, gave a ball in honour of Prince Arthur and the Prince and Princess Christian, the ballroom in the Town Hall being connected with the newsroom by a long corridor constructed of wood. Dancing took place in both rooms.

Upon several occasions after a heavy fall of snow, fights with snowballs were waged on the "flags," until, becoming serious, the police were obliged to interfere and put a stop to them. A playful seasonable exchange of snowballs degenerated into a combat with the rougher element which frequented the "flags."

I still recall many of the habitués of the Exchange from 1860 to 1870, men who well represented the varied interests of the great port. While frock coats and tall hats were the rule, many still wore evening dress coats, and not a few white cravats. There was old Miles Barton, a picturesque figure, with his genial smile, and his hat drawn over his eyes; Isaac Cook, the Quaker, in strictest of raiment; Harold Littledale, the friend of Birkenhead, and the critic of the Dock Board; Michael Belcher, the opulent and prosperous cotton broker; the two Macraes, the principal buyers of cotton for the trade; Tom Bold, the active Tory political tactician, who in olden days knew the value of every freeman's vote; H. T. Wilson, the founder of the White Star Line and the Napoleon of the Tory party; Edmund Thomson, the pioneer of steamers to the Brazils, who, like most pioneers, was unsuccessful; John Newall, the "king" of the cotton market, who had an enormous clientele of very wealthy men; C. K. Prioleau, the representative of the Confederate Government, who was also the great blockade runner. Mrs. Prioleau was considered to be the most beautiful woman in Liverpool. Mr. Prioleau built the house in Abercromby Square which the Bishop now occupies as his palace. R. L. Bolton, a very successful and bold operator in cotton, though in appearance the most shy and timid of men was another well-known figure; he rarely made his appearance until late in the day, being credited with a love of turning night into day. James Cox, the opulent bachelor, doyen of the nitrate trade, held his court always well attended in one corner of the room. I well remember J. Aspinall Tobin, tall of stature, distinguished in appearance, fluent of speech, a welcome speaker on every Tory platform; John Donnison, famous for his little dinners and excellent port; Sam Gath, the tallest man on the Exchange; Joseph Leather, the forceful partner in Marriotts, a leading nonconformist, who built and lived at Cleveley, Allerton; Maurice Williams, the writer of a cotton circular, and a reputed oracle on cotton – he lived at Allerton Priory, afterwards bought and rebuilt by Mr. John Grant Morris; Thomas Haigh, the courtly and stately chief of Haigh and Co., cotton brokers; Edwin Haigh, his son, and the most vivacious and talkative of men, popular with all; Lloyd Rayner and his brother Edward, the largest brokers in general produce; S. Bigland, plain and honest of speech; the two Reynolds, skilled in Sea Island and Egyptian cotton; John Joynson and his brother Moses; John Bigham, portly and prosperous; and not far away, his son, John C. Bigham, who was destined soon to leave the "room" and become the able Queen's Counsel, the learned President of the Admiralty and Divorce Court, and afterwards a peer of the realm (Lord Mersey), and whose brilliant career was doubtless largely due to his early business training; Studley Martin, the active secretary to the Cotton Brokers' Association, buzzing about like a busy bee, collecting opinions as to the amount of business doing in cotton; Thos. Bouch, the dignified representative of the old firm of Waterhouse and Sons; Edgar Musgrove, an ideal broker, ever present and ever active. Nor must I forget the noble band of shipbrokers who collected the cargoes for ships loading outwards: Robert Ashley, Louis Mors, W. J. Tomlinson, J. B. Walmsley, John McDiarmid, Robert Vining, Dashper Glynn, Tom Moss, G. Warren, S. B. Guion, all of whom, with many others, represented vigorous interests which in those days made the trade of Liverpool.

Outside the Exchange, but yet very necessary to the success of its business, were the lawyers and insurance brokers and average adjusters. Amongst lawyers Mr. Bateson and Mr. Squarey enjoyed the largest commercial practice; R. N. Dale was the leading underwriter; and Mr. L. R. Baily was not only very prominent as an average adjuster, but as an arbitrator he afterwards became one of the members for Liverpool. In those days, before the establishment of the system of trade arbitrations, there was abundant employment for lawyers and professional arbitrators.

A sketch of the Liverpool Cotton Exchange would not be complete without a reference being made to the dealings of Maurice Ranger, and others, who in the 'seventies on several occasions tried to corner the market by buying "futures" for delivery in a given month, and then obtaining such a control of the spot market as would prevent the sellers fulfilling their contracts. Mr. Ranger's operations were on a gigantic scale, but there was always a "nigger on the fence." The unexpected happened, and I do not think he ever fully succeeded in these enterprises. He had many imitators, who were equally unsuccessful. Mr. Joseph B. Morgan did a useful work for the cotton trade, by establishing the cotton bank to facilitate clearances in future contracts.

The removal of the Cotton Exchange to the new premises has taken place since my active business days, and the whole course and methods of the trade have changed.