In the London Stock Exchange of 1835, this wasn't particularly astounding.
Because, a few years earlier, the Manchester and Liverpool Railway Company's initial public offering had an estimated value of eight hundred thousand British pounds, with an annual dividend yield of 6.5%.
On the other hand, the London Shipping Company raised two hundred fifty thousand British pounds with a conservative annual return of 2.7%.
And the West London Gas Lamp Company, with nothing more than a contract for lamps from the London City Government, attracted public subscription demand nearly nine times the issuance amount.
After experiencing the London Stock Market crash of 1829, now, six years later, investors' confidence had already returned. Presently, the lack here was never money but good companies.
