Evening star. [volume] (Washington, D.C.) 1854-1972, 1885-06-03

The Rise of the Washington Stock Elk.
chanEe-HOw TransaetiOnS In Local
stocks and Bonds are Carried On, Arc.

1t Is a matter of wonder now to many brokers
and others how Washington city got along for
so many years without q well regulated stock
exchange. The Washington stock exchange,
which is not yet four years old has already
taken credtable place among institutions of
It's class and has conferred great benefits upon
both the bankers and brokers on one hand, and
the investors and spectators on the other by
facilitating the transaction OF business. For
merly the business of buying or selling local
securities was transacted through messengers
who would go from office TO office to make in
quiries or hawk stock. Now the exchange bust
ness of the brokers is condensed into the half
hour or hour usually consumed by the midday
session of the board. The Washington Ex-
change established in November, 1881,
the bnidns oeenpsa by H. recently s. Cooke
Co.'S bank. The original members were
George II. d. White, Fl: D: Cooke, J. w: Ker, A.
II. +. Otiley, John ". COrson, l.. y. Bartlett
!: G; Middleton, G; P. Williams, VII: Barnard
dleton, Albion K Paris, Frank q. Middleton
and John w. Thompson.
The first officers were Geo. H. B. White, presi-
ker. treasurer 4. f. Bateman, secretary
standing committee, d. w. Middleton, G. s.
bradley bradley and H. f. Obey Since then quite a
The exchange is Row conveniently located in
rooms on the first floor of the Glover building
THE PRESENT MEMBERSHIP.
Among the members At. present are T.. T..
Glover, of Riggs & Co.; Lewis j. Davis, of Lewis
Johnson & Co.; John W. Corson, of Corson &
Mccartney; II. c. Towers, of Towers & Green;
Chas j. Bell, of Bell & Co.; VIM. Dickson, Geo.
FL. B. White. of the Metropolitan National
Bank John w. Thompson, president of the
National Metropolitan Bank; c. T. Havenner
of c. L. Havenner d Co.: Pacificus Ord, W. r.
Decide. f. Morrison. of New York: John f.
Beall, John F. Olmstead, eX-Secretary Robson
!. r. Bateman, Of Bateman 4 Co: Albion
Cooke & COL. X. Upton and +, N. NoSursc
AS rule. every firm that deals in
board member. The present officers of the ex-
change are: C. C.. Glover, president; John w.
Gorson. vice president; n. \. Paris, treasurer
II. {: Towers, secretary, and Geo. III. b. White,
Lewis j. Davis and Chas. j. Bell, standing COM
mittee. The business transacted at the ex-
change has had a gradual and healthy growth
until it is now about three times as great as 1T
was during the first year of its existence. At
as great as could be expected at this season Of
the year. The brokers look with much conf
dence to q considerable increase of business
after the first OF July, as they figure out that
there will be n large sum of money then set
loose i'll search OF investment. With the in
crease OF business the exchange has naturally
obtained increased influence and authority.
ITS QUOTATIONS
of District of Columbia securities are now
honored as standard authority in the other
exchanges of the country. The Washing ton
City Gas Light Company's stock has for years
been on the list of the Philadelphia exchange,
but that exchange now takes the quotations
from Washington as authoritative. Among
the stocks listed here, the only one not repre-,
senting a local enterprise. is that of the Penn
sylvania Telephone Company. That has been
put on the list, so a member of the exchange
said to STAR reporter, because it is held here
largely. 1t has been one OF the most active
stocks on the list. and the quotations given by
the Washington Stock Exchange are accepted
in Harrisburg, Lancaster and other parts Of
Pennsylvania Every day the list OF QUOTA
tions is sent by the members throughout the
country TO their correspondents and customers
The transactions of the Exchange, especially
those in District securities, do not represent
movements of local capital alone. Large orders
from New York and other points are executed
here.
The stocks listed are Washington and George
town, Metropolitan, Columbia North CAPITOL
and street, and Anacostfa Street railroads
Washington City Gaslight company, George
town Gaslight company, Ffremens, Franklin,
National Metropolitan, Union, Arlington Cor
coran, Columbia. German-American, Potomac
and Riggs Fire Insurance companies, Washing
Coas1ing company. Washington Brick Machine
company. Great Falls Ice company, Real Es tate
Title Insurance company, Z: $. Electric Light
company, Pennsylvania Telephone company
and Chesapeake and Potomac Telephone com
pany, the Bank of Washington, National Bank
Of the Republic; National Metropolitan bank,
Farmers and Mechanics National bank OF
Georgetown. Citizens National bank, Second
National bank and Central National bank
III duultiOll I'd TIE iJlSLFlcI OF Column D1a Sccu-
rites, the bonds of the Washington and George
town railroad, the Washington Market com
pany and the inland and Seaboard Coasting
company and the Masonic hall bonds appear on
the list.
ABOVE PAR.
A glance at the daily quotations will show
that the stock of nearly all the Washington cor
porations is above par. The fluctuations are
not great enough to attract much speculation
on margins. Still, the members of the ex-
oh hf tradi ~
of the steader stocks frequently there is none
afioat seeking a purchaser. The exchange reg
ulates methods of conducting business and fixes
charge for brokerage. The commissions now
charged are Is of one per cent for bonds
and 12I2 cents per share on stocks. A COM
mlttee of the exchange has just completed re-
vision OF the constitution and bylaws which,
it is thought, will render the organization more
effective In several respects.
CHURCH AT MT. PLEASANT.