In the 1680s many London merchants transacted much of their business at the Royal Exchange, a meeting place in the City for businesses and merchants. News of shipping was collected in the social atmosphere of the coffee houses which became centres for specialised interests. Lloyd’s was fast attracting all those concerned with shipping and he was able to achieve this by holding such events as maritime auctions and collating information.
In 1696, Lloyd published a paper entitled Lloyd’s News, three times a week. But the newspaper was not long lived. Lloyd was involved in a libel action due to the addition of some text. However he continued to supply his customers with the intelligence he gathered.
The coffee house continued to prosper. Lloyd prospered but due to poor health he was unsuccessful in his bid as a common councillor in or around 1710.
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