Friday, February 5, 2010

Cancel for February 5: Logan and Bryan

FEB  -  5  1902

Logan & Bryan was famous as a "private wire" brokerage house.  With major offices in both New York and Chicago, the brokerage maintained its own private telegraph line between the two cities to enable it to conduct its business.  While I am no expert in this era of economic history, I would expect that the information and service advantages from such a line were enormous, permitting at a minimum fast customer service but also creating incredible arbitrage opportunities.

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