New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-05-14
EXILED BROKERS
INVADE WALL ST.
Germans, Barred from Londor
Exchange, Seek New
Careers Here.

Tho advance guard OF Germans.
barred from doing business on the
London Stock Exchange. is already in
New York. Edward J. ellison, vet
eran member Of London house. who
has been in New York since before the
outbreak of hostilities, estimates that
their number at present is close to
one hundred, he having met at least
fifty men in New. Broad and Wall
Streets with whom he did business IN
London.
The majority Of the more prosperous
Of these men make house In lower
Broadway their headquarters. Those
not so prosperous are scattered among
the smaller houses.
Besides the German members OF the
London Exchange now IN New YORK
there is a considerable number Of ma
tive Britons who came here after the
outbreak of war had put an end 20
business on the London board. Best
known among them is Reggie" Barker,
as well known in Throgmorton Street
and in his day the greatest p.unger on
the London board.
The ruling Of Germans from the
privileges of the London board IS not
exactly new. though the cable reports
would give that impression. Since tho
outbreak of hostilities their presence
on the floor there has been resented.
and many of them were forced 10 quit
because they could get no orders inc
recent ruling merely makes formal q
condition that hitherto was informal,
In addition to the members OF the
exchange affected by reason of German
birth there are hundreds of German
born clerks ruled Off
All of the Germans affected by the
London Stock Exchange feeling are
British citizens, for none but BRIT
ish subject is eligible TO membership
on that board. Prior 10 the outbreak
of war citizenship alone was required.
In August, however. citizenship OF hve
years standing was made "A requisite.
thus doubling the time one born IN
Germany must live in England before
becoming eligible.
The ruling of Germans of the board
works far greater hardship than ruling
a member OF the New York board
would, for under the rules IN London
a member must not engage In any other
business under any circumstances
under penalty of suspension. thus.
James j. Neumann, well known
member, whose firm was ham
mered" not long ago, made appli-
cation for reinstatement after paying
his proportional share o. Ais firms in
debtedness. His way bssS was clear
until an enemy in New York notified
the London authorities that the man
had been employed by big New YORK
house Then he found that he had au-
tomatically barred himself
Il is interesting to note that this
man, who was Of German birth, was
later sent 70 Berlin as the representa-
tive OF Post & Flagg, - Wall Street,
and Is now interned the city OF his
birth as an alien enemy, he having
become naturalized Englishman In
order TO join the London Stock Ex-
change.
As matters stand. therefore, the Ger
man brokers who are barred from
working on the London Stock Exchange
must stay idle until peace Is declared
If they wish 10 retain their member
ship on the London board. And X
they go TO Germany they must be pre-
pared 10 20 20 prison camps Tor the
same period as alien enemies.
Some English brokers now in New
York not affected by the ruling ars
inclined to think the latter the lesser
horn Of the dilemma.