New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-01-01
TO LIST MINING STOCKS
PRODUCE CHANGE PLAN.
Nay Trade in All Securities Not
Dealt in on Stock Erchange.

Trading In securities other than those dealt
In on the Stock Exchange will probably soon he
begun on the Produce Exchange, the board Of
managers Of which institution yesterday an
proved the following report on the proposed inno-
walton, submitted by the committee appointed
some time ago to consider the subject:
Your committee appointed to consider the adj
visibility Of trading in mining, Industrial and
other securities not listed traded in on the
New York Stock Exchange. after careful and
thorough investigation. recommend that for the
purpose of broadening the scope and increasing
the business OF the exchange the request for the
introduction of such trading be granted and
that a committee be appointed to formulate rules
for the government of and trading in such Sc
curities for adoption at meeting of those inter-
ested or 10 become interested in such trading at
as early date practicable.
Applications for membership now pending
from men actively identified with these inter-
ests, and the granting of the desired facilities
will I'm our judgment bring TO the exchange many
representative traders of good financial stand
ing, prepared 10 enter into the building up of
the proposed business.
It Is understood that the special committee
suggested in the report, and appointed yester-
day, Will file its report at or before the next
meeting Of the board of managers on Febru-
airy Z.
The arrangement several months ago for leas-
ing 10 the Consolidated Stock and Petroleum
Exchange part of the Produce Exchange trad
ing floor abandoned because of the hos
tility of the Stock Exchange toward it, but 1t
IS understood that the attitude of the Stock
Exchange toward the new project of the Prod
uce Exchange is not unfriendly. as no securi-
ties traded in the Stock Exchange are to be
listed the Produce Exchange Many Stock
Exchange houses hold Produce Exchange men,
hership. and these firms without exception favor
the new plan II is proposed TO establish list
Of approved securities. selected from among the
curb issues and securities not dealt in here.
Applications from corporations desiring to have
their securities listed on the Produce Exchange
already being received. and all such Sc
curities viii have to pass the test of scrutiny
by listing committee of fifteen before being
admitted trading. Especial care will be ex-
ercsed in the of mining stocks, as 2 corps
of twenty or twenty-five experts is to he re-
tanned TO investigate and report upon the merits
Of the mining properties seeking place on the
trading list
Securities of street railway companies and
Of gas and electric companies operating in
various parts Of the country, and also of Junior
induStTlalS. reputable manufa curing concerns
of capitalization not large enough to make Il
desirab bic for them to seek a market for their
securities on the New York Stock Exchange
viii figure largely among the issues 70 be listed
in the Produce Exchanges new department
and an important place viii he given to the
shares Of the New England cotton mills Be-
hlnd all viii he the guaranty Of the reputation
of he Produce Exchange, aff0rding element
market. It is not intended to include in the
list Of Produce Exchange issues the larger and
best known curb securities. among them Stand
ard Oil International Mercantile Marine and
MaCkaY companies
II is expected that a number of brokers now
active on the curb will become members OF thu
Produce Exchange. with the object Of doing
business in It's securities department Seats on
the Exchange are rapidly advancing in value
few weeks ago one was sold for S275 but
1t is said that $500 is bid