The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-26
NEW JERSEY STOCK EXCHANGE
INCORfORITED ar TRENTON
JiHES n. DILL ORGiNIZER.

Hen Sot 'Tcli vino Arc Back Of the Scheme
To Have BOnr,I Room IN jersey city
consolidated Members are ANY.
Iaus 10 JOln Broad Charter Power.
TRENTON. April 2J.--Tae New Jersey
Stock Exc ange was incorporated In the
Secretary Of States once this afternoon
with an a thorized capital stock Of $3.50 900,
divided into shares Of $500 The charter
was filed by the New Jersey Registration
and Trus; Company. Of which James B.
Dill IL the head. The incorporation. Fred.
erick ". Garyin. Harry II. Picking and
james r. MapIetoft, are clerks In the trust
company. Tho charter specifics as the
primary ohis Of tie company the opera
ton Of an exchange but does not state
where II il to he situated Other cor.
porate objects are:
ITO furnish facilities to It's members
for tho purchase and sale Of stocks. bonds,
securities and other personal property,
70 establish just and equitable principles In
the business carried on by and between
its members, TO maintain uniformity in
rates regulations and usages Of the business
10 effect standards Of classification in said
business, to acquire, preserve and dissent
nate useful Information connected with the
business throughout all markets, to de-
crease local risks attendant upon the bust
ness. and generally 10 promote and faCii-
tate the business OF buying, selling, dealing
with and dealing in securities, and to create
among the members facilities with which
such business may he conducted.
To communicate with ether bodies,
similar or otherwise, TO concert and TO
take, to procure measures for the protec-
ton Of business and persons engaged
Authorization ia also Own n The charter
for the operation OF qlearing house, sub
Jet to the rules and regu$lions adopted
from time to time IL w Giirectons, who
are TO be designated az the boerd Of gov
ernors. The corporation is empowered
TO issue certificates Of neuibsTship, bonds,
debentures or obligations at the option
Of the corporation. II n expressly author
lied to conduct it's business, or any part
thereof either In OF out Of New Jersey
Authority " given the directors, net
withstanding their official relations with
the corporation, to enter into and perform
CONTRACTS with Il.
The directors are 10 be divided into two
classes, elected for two years, except that
at the first election one-hah will be chose
for a one year term.
A second company by the name OF the
New Jersey Stock Exchange had a charter
recorded with the County Clerk herr late to-
day. IL has an authorized capital Of ti0O.-
600. The incoTporators Of the latter are the
same as those Of the larger company, whose f.
charter was filed with the Secretary Of |
State II is said that the purpose OF the |
second company was to keep a prospective !
rival out Of the field.
James B. Dill said yesterday that several !
men unknown 10 him had asked him a !
few weeks ago 10 organize the concern. I
When I've came to look up their standing /
he found that they had strong backing /
just who il back OF the scheme 10 start .
Stock Exchange in New jersey Mr.. Dill /
would not say.
The new exchange will probably he in |
Iersey CITY Its cha rtsr. however, allow |
the exchange 70 conduct business in any /
State or foreign country. The capita !
stock will he S2J0OOO, and the memberships .
provided for are 500. Mr.. Dill said yes
te rday that he N garCied the scheme as
entirely practicable. Telephone fscili-
ties would be increased and customers |
would have their orders Tecuted as rapidly /
as II the actual trading and clearance were
"a Tied on in this city.
Offoers OF the Stock Exchange denied !
any connection with the proposed Jeney
market The Consolidated Exchange has
no official connection with II, 70 far as Is /
known but II is unde rstood that members
II the Consolidated have applied for mem
Eership in the new project.
One theory advanced yeste rday was that !
Mr. DillR scheme is erely business VEN /.
ture. pro jected to fore stall any action by .
The Consolidated and possibly to sell out |
10 the latter.