Provincial Stock Exchanges

Download or read book Provincial Stock Exchanges written by W.A. Thomas and published by Routledge. This book was released on 2013-11-05 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: First Published in 2005. The provincial stock exchanges have long been an area of considerable neglect in the study of the history of finance and investment. They have always been dwarfed by the London Stock Exchange, but at least from 1836 onwards it was not the only market in the country. Those who have traced the development of the English capital market have been careful to point to the importance of provincial capital in railway promotion, yet while the role of provincial capital was emphasized, the praises of the 'vehicle' which helped to mobilize such funds went unsaid. It is difficult to see how provincial investors would have been prepared to commit so much of their capital resources for such purposes without some assurance of being able to liquidate their holdings fairly speedily, since for most of them London was at some distance. This book is an attempt to fill a gap—to trace the origins of the provincial investment 'vehicle' and its progress to the present day.