The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1890-09-25
Staunton's Stock Exchange.

|
It is officially announced that the Vir-
ginia Stock Exchange, which was char
tered by Judge Grattan some two weeks
since, went into operation last Monday
at noon. They have secured eligible
quarters on Main street and the West
ern Union Telegraph Company have
promised to Co operate so far as giving
them the necessary facilities is concern
ed The object of the exchange is to
handle Virginia stocks. bonds and other
securities, and especially to bring these
securities into such prominence as VIII
invite the attention of Northern inves-
tors. This is a new departure from any
thing in this section of Virginia ana
will enable investors in the various Sc
curities to act in more intelligent man
ner than is at present the case. Branch
offices will be established in Virginia
and the principal Northern and Eastern
cities. Mr. Ernest Howard, late OF New
Orleans, is president; Mr.. c. Il. Cald-
well, of Staunton. is secretary, and Mr..
w. j. Perry is treasurer.
The company, in its prospectus, says:
Staunton being the oldest place in this
section and situated near the great coal
and iron fields, has for this reason been
selected as the centre of desirable field
of operation.
The stock exchange of New York has
for years been the medium through
which every increased value of all listed
stocks or bonds has been regularly post
ed. There are many reasons for the
increasd values of listed stocks and
bonds which may be mentioned, the de-
claring of dividends, new Improvements,
conservative and successful manage
ment, the accumulation of surplus or
undivided profit, increase in the volume
of business, the age of the corporation,
&C., all these are important elements
| which govern the numerous fluctuations
in the prices of stocks and bonds.
With Virginia's increasing wealth and
prosperity comes necessity for some
honorable and conservative method of
listing, partially governing and making
known through many branch exchanges
the names and values of the stock and
bonds of Virginia Incorporated COM
panies.
| In all cases of application for placing
! either stock or bonds of companies on
! the list it is required that three full
| statements of the locat ion and descrip-
| tion of the property, and when possible,
4 map should be furnished. Statements
should give title of the company when
organized, and by what authority; a
brief statement of liabilities and assets !;
number of shares issued and not issued,
and par value list of its officers, &C.,
office of the company; transfer office,
and registry. If organization of an
| old company, the particulars should be
stated. Three copies of this statement
in type, or made by typewriter, and
signed by an officer of the company.
1t is required that sample of each
issue of stock or bonds shall be shown
to the committee Ito be left with the
i committee, if possible), SO that it may
! be ascertained whether proper precau-
! tions have been taken against forgery !;
| and no form of stock certificate or bond
will be accepted unless it has been care
| fully engraved by some bank note en-
| craving company, whose work is ad-
mitted by the exchange.
| The face of every bond, coupon or
| certificate of stock must be printed
| from steel plates which have been en-
graved in the best manner, with such
varieties of work as will afford the great
est security against counterfeiting.
All signatures upon securities must be
written. Stamped signatures will not
be accepted by the committee.
The bylaws of the exchange provides
that all active stocks must be registered
at some institution satisfactory to the
committee and each application must
be accompanied by letter from the
registrar stating the amount of stock
registered at the time of application,
and also by "the form of agreement
with registrars" duly executed, provid
ed such form has not been already filed
| with the committee.