Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1897-10-18
WILL REMAIN OPEN.
Stock Brokers Decide to Continue the
Daily Calls In the Pit.

The stock exchange will not close,
reports to the contrary notwithstand-
ing. Its fate was decreed at meet
ing held in the Commercial street pit
this morning at which 1t was decided
TO keep the ball a-rolling. business or
no business, although before adjourn
ment the brokers' voiced a unanimous
sentiment in favor of removing to
more congenial thoroughfare, say on
Second South street or whereabouts and
a committee was appointed to carry
that sentiment into effect
Pursuant to official call, about TWEEN
~ members of the Exchange got to-
gethcr at II O'Clock this morning,
barred their heads and sat down to "A
calm, dispassionate. cool, deliberate
consideration of the question, ITO
close or not to close Vice President
Sam Pendergast presided and Mr..
Charles Il. Hudson acted in the ca
pacity OF scribe. There We're discus
sious pro and con on the impending
question: Messrs. Hudson and Conway
championing the latter end and
Woolley, Colburn and Poery the for
mer, but none of the addresses were
more spirited than trading has been
during the present season, and when
all was said and done the brokers
were nearly in the same position as at
the commencement of the session,
with the exception, perhaps. of there
being firm determination to better
conditions in the pit and make of the
Exchange n factor in shaping the tone
and tune of the local market
Mr. Hudson was opposed to a dis
solution OF the organization for the
reason that he thought 1t was a scheme
TO further the interests of individual
brokerage firms throughout the city.
The gentleman believed that the pub
lie had been "gouged" In their dealings
in stocks, and he thought that the ex-
change, properly manipulated, would
result In doing away with such prac-
tlces. The gentleman's remarks brought
forth little resentment from Broker
D. II. Peery. who mildly asked for a
bill Of particulars. which, however, was
not furnished by the speaker.
Broker r, l.. Colburn had sugges-
ton. His was that the exchange in
wife "curbstOners' to do business in the
pit, without the eNaction OF the reg
MAR initiation fee, although they might
be required to put IN monthly dues
with the rest OF the members In this
way said Mr.. Cnlburn. interest would
be centered in the institution and all
trading now done on the curb. would
find n place through the medium Of
the stock exchange The suggestion.
however good on its face was talked
down the majority Of the brokers FAIL
ing to see where 1t was in any way
practicable.
After further oratorical efforts on
me part Of other members Of the ex-
change Mr. Hudson introduced a reso-
tuition, the import of which was that
the exchange does not close or take
a vacation" and an aye and nav vote
showed the resolution well taken:
ed
Prof. Tbhals then moved the APP
pointment of COMMITTEES of three TO
select more suitable quarters. with
the suggestion that the Tunnel might
ne secured at nominal cost. His mo-
u9n carrvingthe chair selected Messrs.
IIbhals Peery and Colburn. Then Mr..
Wnolley moved that the governing
board select n secretary from week
TO week, to serve the organization
without pay, thus doing away with
NE expense Of a salaried scribe, but
me motion wns lost, the members
detmlng the economical scheme alto
gethcr impracticable
The regular call was next in order
ana the following quotations were rat
Yea OF In n hurry. In oder to afford
me mrmhers an opportunity to bid
l.r south Swansea at the Bank of
commerce sale, which took place at
The closing figures were as follows: