Middlemen in English Business 153 



Thames valley corn, coming by way of the Thames barges, as early 

 as the thirteenth century^ and in 1722 was the chief market for malt^ 

 which still came by the same route and conveyance. Bear Key was 

 the great mart to which, as was said, "comes all the vast Quantity of 

 Corn that is brought into the City by Sea, from the Counties which 

 lie commodious for that Carriage" and was only excelled as a corn- 

 market by the markets in Holland at times. ^ Market was held here 

 on Mondays, Wednesdays and Fridays. Here, on accoimt of its 

 nearness to the coasting vessels, the factors and dealers carried on 

 their business exposed to the weather and other inconveniences. 

 But about the middle of the eighteenth century the factors operating 

 there bought a parcel of ground and erected the "Corn Exchange" 

 in Mark Lane. Hereafter Mark Lane became the center of the corn 

 trade of England.'* During the next half-century the manner and 

 conditions of conducting the corn trade did not change, except in 

 volume.'' 



This exchange was erected as a private enterprise and property, 

 and divided into eighty shares, which were held by factors, buyers, 

 and Kentish hoymen. The property was given in trust to a committee 

 who were in entire control; the committee was chosen by the pro- 

 prietors. Inside the Exchange stands were erected on which samples 

 might be displayed; the stands, 72 in number, were rented to factors 

 and dealers; the proprietors would allow no more stands to be built, 

 and only re-let those when vacant. The Exchange was nominally 

 open to all who cared to buy and sell, but since sample-selling was the 

 vogue and stands were necessary and the number of stands was lim- 

 ited, it was practically impossible for anyone not a member of the 

 exchange to carry on the trade of factor to any material extent. 

 There were a few instances of persons attending the market, who 

 brought samples in their pockets, and sold thus to a limited degree. 

 Every opportunity and inclination were open to the factors to favor 

 those of their calling and be partial in the manner of transferring and 

 leasing the stands. They could restrain the increase in number of 

 factors by refusing to lease to a would-be factor and giving the prefer- 

 ence to a person who would only operate as jobber. The number of 



^ Wheatley and Cunningham, London, III, 142. 



2 Defoe. Tour, II, 174. 



3 Ibid., 174; Hatton, New View, II, 784. 

 ^ Rep. from Com. H. C, IX, 144, 153. 



* Ibid., IX, 148, testimony of Joseph Stonard, a Com Factor during this period, 

 given 1801. 



