BUSINESS AT SEA

Evening Star, Issue 20315, 25 October 1929, Page 1

BUSINESS AT SEA

OFFICES 014 LINERS Business amounting to £23,000 is stated to have been transacted in the United States liner Leviathan during her voyage from New Aork, states the London ‘ Daily Express.’ The stockbrokers’ ollice installed on board proved a great success, confirmation of stock deals being received tclephonically within ten minutes. Passengers found the innovation fascinating, and thronged the. office during the' voyage, watching the fluctuations of their investments. London stockbrokers are, of course,, prevented by the rules of the London Stock Exchange from sharing in such enterprises. Their offices must bo within a mile radius of the Stock Exchange, and they are not allowed to seek customers. Americans are bound by no such restrictions, and rile White Star liner Majestic left New York for Europe with a broker’s office on board, similar to that in the Leviathan. Business men are able to keep in contact with the New York and London markets throughout the voyage by a special installation of wireless, and two representatives of the American firm of brokers who have completed the arrangements, are able to transact business for their transatlantic passengers through their head office in New York. Similar brokers’ offices are already established in the Canard liner Berengaria, and it is expected that they will be extended to the Olympic and the Homeric, of the White Star Line. They arc also provided in three or four French liiierk, including the Isle de France. Passengers who find an American firm catering for them during the crossing are naturally disposed to transact further business through them when they reach England. It seems absurd to many members of the Stock Exchange that they_ should be barred from such enterprise aboard British liners, and opinion ife growing that the rules and regulations which govern the London Stock Exchange practice are in urgent need of revision.