The new Baltic Mercantile & Shipping Exchange opened with 1,400 members and included large notice boards with announcements from Lloyds, the latest grain and oil prices and “financial news tapes and general intelligence tapes”. Networks of port agents also supplied regular updates. By 1914, membership had grown to 2,377. New rules meant the brokers were differentiated from principals and had to sign a “Broker’s Letter” confirming they were acting only on behalf of their clients.
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