The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-07-11
THE EXCHANGE OPENED.
The Helena Mining and Stock Ex-
change Commenced Business
Yesterday Morning.
A New Enterprise Which Prom
ises Much for the Mines
Of Montana
Formally Opened for Business In the
Power Blook-Yesterday's Bust
Ness ON Change.

Progressive Helena added yesterday
morning another enterprise to the long
list abe has already rolled up. Tho enter
prisina citizsns Of the Queen city Of the
greatest mineral producing state ON the
North American continent resolved, she
should have mining exchange where the
stocks Of reputable mines might be listed.
So yesterday morning witnessed the formal
opening Of the Helena Mining and Stock
Exchange. A short time before II o'clock
the door Of the exchange was covered with
men we'll known in the city and state.
Among the many present were,
A. ]. Davidson, Hon. E. W. knight, presi-
dent Of the exchange, T. II. Kleinschmidt,
Hon, Sam Word, Gen. Geo. 0. Eaton, W. J..
Buskett, A, ]. Seligman, @. X. Wells, N. H.
Keefe, A. g. Phelps, Ashburn K. Barbour,
T. H. Clewell, Capt. II. 8. Howell, score
tary Of the exchange, w. H. Franklin, DR..
Trsacy, H. B. Davis T. II. Burke, Sam
sohwab, James Ryan, John w.
Eddy, J. w. Hathaway, Bennett,
Price, A. Lathrop, H. 9. Wallace,
Louis Walker and r. B. Smith. At IL
table on the platform outside the rail. With
bow and a smile he acknowledged the
applause which came from those present.
The opening of the Helena mining and
stock exchange, he said, would open new
era in the history of Montana and of
Helena. The mining industry was one of
the largest resources of the state. 1t was
no triAing matter to carry on such an enter
prise. The institution did not propose to
harbor any impositions and frauds in
mining stocks. He was proud to be the
first president of an organization which
started of with such promise of healthy
financial success. The exchange would put
really of merit, aud the, interests of legiti-
mate enterprises woulI be protected. We
are going to have slch an endorsement
from the east, south and west of the ex-
change as that the whole country will be
looking toward Montana. Enquiries had been
No one could answer these questions with
out going to considerable expense; experts
would have to be employed to make thor
ough examination before any satisfactory
answers could be given. But here in the
exchange the properties having been re-
ported upon and listed it would give to them
credit and reliability. Hearty applause
followed Mr.. Knights remarks, and then
Hon. Sam Word briefly explained the OBJ
jects and workings of the exchange. His
remarks were also applauded.
The exchange was Incorporated May l,
1880, by Samuel Word, A. NJ. Hotter, A. j.
seligmsn, Chas. <; Wells, H; N; Par1hen,
Q. R. Allen, Z. u. Edgerton, Thomas Cruise,
John T. Murphy, and Henry Klein. The
corporation was formed for the mutual
convenience of those engaged in dealing in
mining stocks and stocks of every descrip-
ton, as we'll az securities, and for the pro
trade.
Applications for membership should be
addressed to the chairman of the commit
tee on membership, embracing the full
name of the applicant, his business and
residence address, and endorsed by at least
Minors are not eligible to membership.
The membership is divided into two
GLASSES, twenty active members and thirty
non active members, and each is entitled
to hold but one share of the capital stock.
which 10 5000. The board of directors
will employ competent expert to examine
such mining properties az may be offered
able the proper committee to arrive at a
just valuation of the property. Any corpo-
rations desiring to have their stocks or
bonds placed on the call list can submit
their applications to the committee on
mining stocks and properties, with state
ment showing the name of the company,
when organized and under what law, CAPT.
tai stock, number of shares, par value,
what amount paid on same. amount of
bonds issued, statement of liabilities and
assets, list of officers and places of bust
ness. Il 10 also required that a sufficient
amount be paid in to cover the estimated
cost of an examination by an expert. The
fee for listing stocks is $50 for the first
year and $25 year thereafter. The ex-
change will be open for dealings in the
week from 10 a. m. until 8 p. m. The call
for mining stocks will begin at IL a. m.
and for miscellaneous stocks at noon. The
commission rates have been fixed as fol-
lows:
On all mining stocks having
n market va1no If &