On his death in 1763 it became clear that it had owed much of its good management over the past eight years to him.įrom then on the reputation of the coffee house declined. When the Society for the Registry of Shipping, which was to become Lloyd’s Register, was founded in 1760, Samuel Saunders was the proprietor of the coffee house. This paper, unlike the earlier Lloyd’s News, was at first given entirely over to shipping intelligence, taken to be a sign of the growth of the underwriting business in Lloyd’s. Thomas Jemson founded Lloyd’s List in 1734. Elizabeth was the sister of Handy’s second husband. In 1727, the coffee house passed into the hands of Thomas and Elizabeth Jemson. Successive proprietors of the coffee house continued to specialise in providing customers with up-to-date and accurate information about shipping and the marine insurance market. When Handy died in 1720 the Lloyd family ceased to have any interest in the business. Handy Lloyd married William Newton on January 30, and on February 15, 1713, Edward Lloyd died. On 28th January, he added a codicil, assigning the lease of his coffee house to his head waiter, William Newton. His failure can probably be attributed to poor health.Įarly in 1713, Lloyd made a will naming his daughters Mary, Abigail, Elinor and Handy, and third wife, Martha. He was unsuccessful, but the proposal alone shows that he had become a man of considerable wealth and reputation. The coffee house continued to prosper and Lloyd’s name was put forward for nomination as a Common Councillor for Langbourn Ward in 1710. However he continued to supply his customers with the intelligence he gathered. The newspaper came to an abrupt end in February 1697, when Lloyd had a brush with a libel action because of the addition of some text by his printer.
In 1696, Lloyd decided to cater for this thirst for news by publishing a paper entitled Lloyd’s News, three times a week. Lloyd’s was fast attracting all those concerned with shipping and he fostered this interest by holding maritime auctions and collating information. News and information were collected in the social atmosphere of the coffee houses which became centres for specialised interests. Instead, they transacted much of their business at the Royal Exchange, a meeting place in the City for businesses and merchants. Few London merchants had their own offices or counting-houses at this time.
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