Edward Heseltine and Thomas Powell were particularly interested in the shares and bonds of the developing railroads and, in letters to the Stock Exchange in 1908, they claimed that it was their encouragement of investors that had stimulated interest in the American market and helped to create the arbitrage business.
In 1977 the name of the company changed to Heseltine, Moss & Co. and in 1987 the business became part of Brown Shipley Ltd.
I have not seen the H.P. & Co. overprint used beyond the Victorian period.
by Mark Matlach