Pigeon fee (messenger pigeon fee, carrier pigeon charge)

A charge formerly levied on stock exchanges by market participants to pay for the facilities and operation of the carrier pigeons (pavedettes), which were indispensable for the transmission of prices. – A pigeon master employed by the Exchange was responsible for the care of its own and other pigeons, usually housed on the flat roof of the Exchange, in the various pigeon lofts. He was also responsible for transporting his own pigeons by means of specially equipped pigeon transport trolleys to foreign exchanges, for example from Frankfurt to Brussels and Paris. It was not until after 1840 that carrier pigeons – defined by the Swiss Army Administration as “self-reproducing small flying bodies on a biological basis with fixed-program automatic return from any direction” – were replaced by the then newly emerging telegraphy. – See information assurance, IT risks, electricity risk, technology risks.

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