The Washington times., 1906-10-07
STOCK EXCHANGES
NATAL DAY NEAR
Members Suggest Fitting
Celebration Of Anniversary
On November 6.
HISTORY OF INSTITUTION
Affairs Conducted Unlike Those of
Any Other Exchange in
Country.

On November the Washington Stock
Exchange VIII have reached the TWENTY
NTH milestone in itS career, and il has
been suggested by some of the older.
members that the event be the occasion
OF celebrG ton of some kind. Thus far
no action has been, taken, but it is
probable that the suggestion will be
acted upon and the twenty-hfth anni-
Versary be made memorable by eXer-
cises of more than ordinary Importance.
At the present time there are but two
OF the original members-Charles G
Glover and Albion x. Paris, who re
tain their connection with the body and
the changes that have occurred in the
past twenty-five years represent a his
tory that is indissOlubiy connected with
the financial affairs OF the city.
Exchanges First "Call."
After one or two preliminary meetings
the Washington stock Exchange held
its first cali OF securities on Novem-
Der 8. 1881 The membership was then
but twenty and the original officers
were George H. B. White, president; II.
d. Cooke, vice president; Jacob w. Ker.
treasurer. and Arthur +. Bateman, sec
retary, All these have passed over the
great divide, and OF the entire member
ship at the time barely one-half are
living at the present while. as stated,
bur two remain as members.
The first call embraced but nineteen
stocks, Including railroads, insurance,
and the two gaslight companies, and
there appeared but one bid price on the
entire list, which was on the stock of
the Potomac Insurance Company, at
the time an exclusively Georgetown
corporation. No bank stocks were list
cd, and the only bonds that appear
were United States and District issues,
which in the latter case were more eX-
tensive than at present.
Transactions Were Limited.
For some considerable time it does
not appear that the record Of trans
actions was very large, and as the
troublous times OF 1883 and 1884 came
on Il required all the fOrlitude of the
pioneers to preserve the organization.
The membership, originally limited TO
twenty, was in March, 1885, increased
To forty and the membership fee placed
at S25. In 1880 sales or seats are noted
at 800 which rose by slow stages 10
81 900 in 1902. From this point the prices
receded 10 $3.50. and again recovered un-
til in November OF last year they had
reached the remarkabl pTlce or SlOOp0,
at which figure three memberships
seats, as they are called-were trans
ferred.
vidiug for an insurance fund OF $500
was adopted. which has since been in
creased TO 5000
The requirements of tho board in
passing years have called for numer
Gus changes in the matter OF accom-
mOdatiOns. and after several mlgTa-
tions the Exchange located at its pres
tnt quarters at 1885 street, where.
shortly after taking possession, the
public was admitted TO the daily ses-
sions as spectators Several efforts
have been made 10 increase the mem
bcrship, and some attempts aimed at
the purchase of site on which to erect
aHa Mng a n HHaa.
lions have been futile and at present
both projects have been dismissed.
List of Presidents
During its existence the exchange has
lad an even dozen presiding officers,
TWO of whom nave several seven terms
zach while the remainder wepe single
,eTm officials OF this number five ar
no longer conne"tec with the body.
Those serving the exchange were
George H. b. White, Charles G. Glover. |
Charles j. Bell, W. 3. GUrley. B. P |
snyder. a. X. Paris. r c. Stevens, |
Lewis j. Davis. John 4 Arms W. B. !
Hibbs w a. Mearns, G. L. Williams, !
and w B. Hibbs. the present executive. |
The Washington Stock Exchange is |
an unique body. Its sessions are entire |
IN different from that of any other eX- /
change In the world Desks and chairs /
are provided and the members CrlnfOrJ- |
ably enscOnce themselves, and take mat /
ltfS IS an easy ana filillt5-ft tilttidl man J
ner. At times the sessions IrCome some /
what excited and give to he trading all /
the appearance or a real live body but I
at no time is IN ere any OF q q wild and /
fierce excitement which g supposed to 4
be part and parcel Of a stock exchange
though on some 0f the days WREN the /
recorded transactions have rsn up 70 4
half million dollars, IL is not surprising
that members have been carried away
~ their enthusiasm. ami Clamoned loud
~ in their enGeavor to secure the ut
most advantages Of the trading.
Infusing Young Blood
IN these latter years the changes have
brought in a number of younger men to
the body. and the average age has been
materially reduced by the Introduction
Of this younger element. The gray
boards however. are still treated with
the utmost respect and none of the
members will be pFouder TO Celebra q
the successful elimination of twenty |
five years of great prosperity than the
later additions to the Washington Stock
Exchange. who can be counted On TO
do their full share in continuing the
high character and fiourisbing condl-
lsous in :ae yss-S - ~rsnc tHat have
marked the glorious history Of the past