Drifting Towards Oblivion, 1950–1959

Ranald C. Michie

in The London Stock Exchange

Published in print April 2001 | ISBN: 9780199242559
Published online November 2003 | e-ISBN: 9780191596643 | DOI:
 Drifting Towards Oblivion, 1950–1959

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This chapter look at the decline of the London Stock Exchange during the 1950s. The first part discusses the ways that the Stock Exchange raised money to enable it to survive in the early 1950s, relations between it and the government (which were conducted informally through confidential exchanges between the Governor of the Bank of England and the Chairman of the Stock Exchange), the restoration of option dealing, and the use of the Stock Exchange by the government to police activities regarding securities. The second part discusses the policing of the members of the Stock Exchange, and the third discusses the growing competition from the provincial stock exchanges, closer integration with the London‐based North American brokerage houses, and the Stock Exchange's lack of concern with international business. The last section looks at money and capital (securities) markets in the face of the decline of the Stock Exchange over the 1950s.

Keywords: Bank of England; Britain; capital market; competition; decline; economic history; foreign business; government control; history; international business; London Stock Exchange; money market; North American brokerage houses; option dealing; provincial stock exchanges; Second World War; securities market; Treasury

Chapter.  29949 words. 

Subjects: Economic History

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