The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-08-26
The London stock Exchange-The Eve
ming Exchange and the Petroleum
Board.

The London Stock Exchange-The Eve
ming Exchange and the Petroleum
Board.
TO THE EDITOR OF THE HERALD.
Herewith send you sketch Of tho London Stock Ex-
change which 10 synopsis Of long article bearing that
title which appeared Chambers Journal Of June 10,
1896 have doubt Il will be found quite interesting
70 many Of your readers.
Your remarks in todays HERALD regarding the action
Of the two New York boards Of brokers' touching the
Evening Exchange excellent There doubt that
nuisance fast demoralizing the young men, clerks
and bookkeepen Of this city 10 q fearful extent
Your paper 10 ts credit has for long time ceased to
notice In the way giving the quotations there made
for gold and Stocks and II the other daily papers had
followed your example interest would have been man.
ifcsted In IL by the public and would have died nau
raj death.
We have two other nuisancss In she form Of Petroleum
Stock Boards which would be well for the public
they also abolished they traps for catching the
simple and unway. Yet their operations confined
70 the day Time they not ooruptng the morals
O. the nocturnal institution Of Twenty fourth street.
TIVE LONDON STOCK xrcHAraE
The Stock Exchange Of London a. Il now stands dates
only from 1864 II is located In Cspcl COURT the
Royal Exchange building The Stock Exchange at pre-.
sent consists Of about twelve thirteen hundred
bers presided over by committee Of about thirty ap
poated annually. The members, like tho committee,
elected once year. foreigner cannot be elected
unless he resided In England for ve years preceding
his application, nor can any one become member who
10 under twenty one; bill discount broker or
ragged in any business not connected with the Stock Ex
change, or q member In any institution In which deal
ngs are carried n stocks and shares " his wife be
engaged business s by the custom OF the city OF Lon
don a married woman may bel, or In certain when
he has become bankrupt As rule, every new app
cant for admission must be recommended by three mem
bers each Of whom give bond for $500 be paid
TO the creditors Of the applicant 10 case he should be
dsfaulter within two years after bis admission The
trance fee admission twenty Guneas lone hundred
and and Eve dollars In god and the yearly subscription
ten guineas The committee rigid In enforcing tho
rules prevent dshonorable practices charge against
broker or dealer IL instantly investigated and mscon.
duct 10 generally punished with expulsion from tho
House" - the Stock Exchange usually termed By ~
msmbep
Defaniten have their names and offences placed con-
spcuousIy upon black board-a punishment the. was
originated seventy years ago, when scores Of Tame
duoks' wadded out OF the house. whenever member
has become dsisster Of the committee announces
the fact By ripping against pillar, when dsashhke
silence porvades tie houss, awful 70 witness and the
defaulters name 10 then sasounesd 70 ths listening
members
Attached 70 the Stock Exchange building are reading
rooms rofrshment rooms, 1rs.proof rooms committse
roomss - well - several telegraph once, whe1ce
mssaass can b dssppseosd 70 ~ pafts Of Ne vera