According to the 1897 King's Views of the New York Stock Exchange, L. Von Hoffman & Company, among other brokerage houses on Wall Street, was an arbitrage firm. The company played the difference in prices on the stock exchanges of London and New York to make trading profits. The rapidly developing and improving capabilities of transatlantic telegraph transmission made this kind of London-New York arbitrage possible.
The first transatlantic cable was laid in 1858, just prior to the Civil War. But the signal and cable failed after only a few days, and an attempt to lay a new cable was not made again until the mid-1860s. By the end of the 1800s there were multiple cables and reliable transmission.
L. Von H. & Co.
AUG
6
1898
N. Y.
Thompson scan
L von HOFFMAN & CO.
JAN
8
1902
NEW YORK.
Langlois scan
L von HOFFMAN & CO.
MAY
1
1901
NEW YORK.
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