Lynn Korwatch located on top of Telegraph Hill. George F. Sweeney and Theodore F. Baugh were the two individuals to present the idea of a wooden semaphore on top of Telegraph Hill. A semaphore is a system in which one uses two flags or poles and sends signals in an alphabetic code. Sweeney and Baugh expanded their system by placing a signal station on Point Lobos, which is located 20–30 miles from port in San Francisco. The reasoning behind this was that there was high demand from people wanting to know when the ships were arriving at an earlier time so that
Indirect holding system Indirect holding system The indirect holding system (also multi-tiered holding system) is a system of securities clearance, settlement and ownership system where ownership information is held electronically as a book entry. It consists of one or more tiers of intermediaries between issuer and investor. It is an evolution from the "direct holding system" in which owners of securities had a direct relationship with the issuer. The system is made up of various tiers, often with an increasing number of entries involved in each of the tiers. The top tier comprises "national" and "international central securities depositories" (CSDs), where large pools