After the quiet summer season the life of livery companies speed up again in the early autumn. The last couple of weeks have seen some special events.

The Spitalfields Market Tenants’ Association Autumn Ball, held on the first weekend of October, was a tremendous evening. The ballroom in the Grange Hotel at Tower Hill was packed with partying market traders - and they certainly do know how to party! I had the great privilege of being one of the guests, very well hosted by the chairman, Chris Hutchinson, and the chief executive, Janet Hutchinson. It was good to see other markets represented there, too. Gary Marshall, chairman of the Tenants’ Association of New Covent Garden and Gill White, chairman of the Tenants’ Association of Western International Market, were also among the guests.

For us liverymen of the Worshipful Company of Fruiterers, the markets and their traders have a special resonance. It was fruit traders who were the foundation of our company over seven centuries ago, and who at that time were the only members. All the ancient city guilds, the forerunners of the livery companies, started as associations of trades or crafts. The rationale was partly to maintain standards of quality and to provide mutual support in times of hardship; but it was also about controlling a monopoly. Not considered a good thing nowadays, but encouraged then. Edward II in 1319 decreed that unless citizens belonged to a recognised trade or craft they could not become freemen, thus establishing the requirement to form guilds, then called Brotherhoods, Mysteries of Crafts. The medieval view of competition was rather different to the one that we hold today.

During the week before this, the annual election of the Lord Mayor was held in the Guildhall. The electors are the liverymen present in the Guildhall that day. It is a delightful medieval ceremony of pomp and circumstance, but also of serious importance. It was an honour to join with the masters of all the other 100 or so livery companies and to process into the packed Guildhall to sit in the front rows for the ceremony and the voting. Alderman Michael Bear was elected by unanimous acclamation. His background is in property and construction in which he has had a distinguished international career. He will be a highly effective ambassador for the City of London. The present Lord Mayor, Alderman Nick Anstee, leaves office in early November. He has been an excellent advocate for the financial services industry that is the heart of the City today and is such an important part of our economy. He has exercised wisdom in his promotion of sensible regulation and correction of the excesses of recent years, and yet robust in his efforts to maintain strong internationally competitive financial services in London. It was fitting that the Princess Royal, the Master of the Worshipful Company of Butchers, his original livery company, led the vote of thanks for his efforts and success in his year.