Ultimately many of the old Manchester cotton dealers became brokers for their old customers.
The issue of this circular by subscribing firms, on the basis of particulars collected by brokers appointed at a weekly meeting, gave rise in 1841 to the Cotton Brokers' Association, to which the development of the market by the systematizing of procedure is largely due.
For the same reason the city found itself compelled at first to connive at their illegal representation on 'Change, and then to violate its own rules by permitting them to act as brokers without previously taking up the freedom.
Spinning members preponderate, but almost all the Manchester cotton merchants and cotton brokers have also joined the association.
About this time the broker of cotton only began to specialize from the ranks of the brokers who dealt in all kinds of colonial produce.