Lloyd's Coffee House

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A 19th-century drawing of Lloyd's Coffee House Lloyd's coffee house drawing.jpg
A 19th-century drawing of Lloyd's Coffee House
This blue plaque in Lombard Street marks the location of the former coffee house. Lloyd's Coffee House plaque.jpg
This blue plaque in Lombard Street marks the location of the former coffee house.

Lloyd's Coffee House was a significant meeting place in London in the 17th and 18th centuries.

Contents

History

In 1686, the coffee house was opened by Edward Lloyd (c. 1648 – 15 February 1713) on Tower Street. [1] [2] It was a popular place for sailors, merchants and shipowners, and Lloyd catered to them by providing reliable shipping news. The shipping industry community frequented Lloyd's to discuss maritime insurance, shipbroking and foreign trade. [2] The dealings that took place led to the establishment of the insurance market Lloyd's of London, Lloyd's Register, Lloyd's List, and several related shipping and insurance businesses. [3]

In December 1691, the coffee shop relocated to Lombard Street. Lloyd had a pulpit installed in the new premises, from which maritime auction prices and shipping news were announced. [2] Candle auctions were held in Lloyd's, with lots frequently involving ships and shipping. [4] From 1696–1697 Lloyd also experimented with publishing a newspaper, Lloyd's News, reporting on shipping schedules and insurance agreements reached in the coffee house. [5]

In 1713, the year of Edward Lloyd's death, he modified his will to assign the lease of the coffee house to his head waiter, William Newton, who then married one of Lloyd's daughters, Handy. Newton died the following year and Handy married Samuel Sheppard. She died in 1720. Sheppard died in 1727, leaving the coffee house to his sister Elizabeth and her husband, Thomas Jemson. [5]

Jemson founded the Lloyd's List newspaper in 1734, similar to the previous Lloyd's News. [5] Merchants continued to discuss insurance matters there until 1774, when the participating members of the insurance arrangement formed a committee and moved to the Royal Exchange on Cornhill as the Society of Lloyd's.

Traces of the coffee house

The 17th century original shop frontage of Lloyd's Coffee House is owned by Lloyd's of London. In 2011, it was temporarily re-erected on display at the National Maritime Museum. [6] A blue plaque in Lombard Street commemorates the coffee house's second location, now occupied at ground level by Sainsbury's supermarket. [4] It was fictionalized in the 1936 film Lloyd's of London.

Organisations named after the coffee house

The following is a list of organisations named after Lloyd's Coffee House:

Lloyds Bank and its related organisations are not named after the London coffee house. The bank was founded in Birmingham by Sampson Lloyd.

Relation to the Atlantic Slave Trade

Lloyd's coffee house was a popular establishment for English citizens that engaged in the Atlantic Slave Trade. The London Gazette hosted many advertisements about runaway slaves listing Lloyd's coffee house as the location to return them. [7]

Lloyd's became the "global centre" for insuring slaves and the ships that carried them. [8] Market participation in the transatlantic slave trade was the source of the profits that are the foundation to the capital used in the creation of further Lloyd's organizations.

See also

References

51°30′46″N0°05′15″W / 51.5127483°N 0.087497°W / 51.5127483; -0.087497

  1. ↑ Palmer, Sarah (October 2007). "Lloyd, Edward (c.1648–1713)". Oxford Dictionary of National Biography. Oxford University Press. doi:10.1093/ref:odnb/16829. Archived from the original on 15 July 2011. Retrieved 16 February 2011.
  2. 1 2 3 Marcus, G. J. Heart of Oak: A Survey of British Sea Power in the Georgian Era . Oxford University Press. p.  192. ISBN   0192158120.
  3. ↑ Marcus, G. J. Heart of Oak: A Survey of British Sea Power in the Georgian Era . Oxford University Press. p.  195. ISBN   0192158120.
  4. 1 2 "Lloyd's at 325: the story of Edward Lloyd". Lloyd's of London. Lloyds. 15 February 2013. Archived from the original on 3 November 2014. Retrieved 6 June 2014.
  5. 1 2 3 "Edward Lloyd and his Coffee House". Lloyd's Register. Retrieved 7 March 2019.
  6. ↑ "Lloyd's Coffee House frontage. On loan from Lloyd's of London (broken link)". portcities.org.uk. Retrieved 9 June 2011.
  7. ↑ Williams, Eric Eustace; Darity, William A.; Palmer, Colin A. (2021). Capitalism & slavery (Third ed.). Chapel Hill: The University of North Carolina Press. p. 82. ISBN   9781469663685.
  8. ↑ "The transatlantic slave trade". www.lloyds.com.
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