New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-27
EXCHANGE FIRMS
HALT CURB PLAN
No Change in Idea to Take
Market IndOOrs-Agree-
ment Expected.

rs the result or an open hnnouhNe
m.nt yesterday BY ffty-onc Stock Ex-
change firms that they were opposed to
the reorganization plan of the New
York Curb Market Association, as out
lined under date Of May Is, the special
committee OF which H. X. Mccormick is
chairman sent a letter to the members
of the association last night stating
that The readjustment scheme would be
delayed pending the settlement OF the
differences with the members Of the
"big board
In his communication Mr.. McCormlck,
who is also chairman of the Curb Mar
ket Association. said that Ills committee
had taken steps to confer with a com
mlttee representing the exchange
brokers. His letter follows:
"The omen vote on the reorganization
of the New York Curb Market Associa-
ton showed on Friday. May 26, 1916, at
3 p. m, the following result: ZIG Tor.
80 against. with one blank ballot ana
one defective ballot and 90 not voting.
"In view Of this unsatisfactory vote
the signed opposition on the part OF 81
New York Stock Exchange firms and
other Misunderstanding, although a
majority of the members Of your as
ISOLATION have voted in the affirmative,
your board deems it unwise 10 declare
the plan operative.
"Your special committee on reorgan-
ization was appointed by your board TO
draw up plan Of reorganization which
would eliminate certain fundamental
ills that cannot be stopped in free
for-all market; TO accomplish this so
that the best interests Of our members
and all concerned would be conserved,
to the end that the second largest secu-
rity market in the United States be
placed on a more stable basis.
"Your board has adopted the recon-
mendation of the special committee,
submitted on May %, that the vote on
reorganization shall be extended. Be
fore any plan is declared operative
there will be an opportunity gwen to
members Of the association to change
their ballots already cast.
"In view of the Importance OF the
whole matter we urge that any OF our
members or others interested should
express in detail their objections, sug-
pestions or other recommendations.
Your special committee will be ready
TO confer with any individual or body
at any time"
Mr.. Mccormick asserted, as on Prev
Gus occasions. that there had been no
change in the determination OF the spe-
eial committee to take the curb market
indoors. The notifications of the plan,
ii any were made. he said would PROB
ably relate 10 the qualifications Tor
membership under the reorganization
He declared that many OF the obJec-
tions raised by exchange firms 70 the
plan were based on Misunderstanding,
and he thought that the future con-
ferences would result in their removal.
The following Stock Exchange firms
either controlling or transactlng a
large volume Of business on the curb,
are those who expressed themselves as
being opposed to the reorganization
plan in its present form:
Foster & Lounsbery, Charles ID.
Barney & Co., j. S. Bache E. Co, Nc
Graw, Blagden e. Draper, Batcheller &
Adee. Flor, Billiard & Smyth, Wrenn
Bros. & Co., F.. F. Hutton & Co, John
Muir E. Co, Prince g. Whitley, Ray
mond Pynchon & Co, Raymond Starr &
Co, l.. & r. Schafer, Taylor, Bates &
Co.. II. n. Whitney g. Sons, Dominica
Bros. e. Co., b. Y. Frost e. Co., Henry
Clews & Co., ]. NJ. Leopold & Co,
Enrich & Dreyfus, Gray & Wilmerdlng'
Babcock, Rushton & Co, Potter, Choate
& Prentice, H. Content e. Co, Abbott
Johnson & Co., s. b. Chaplin & Co, Pen
nington, Colket & CO., Trippe q GO,
Auchincloss, Joost & Co., McCurdy'
Henderson & Co., Morrison Town
send, Markoe. Morgan Co, CARS
ChHds & Co., Harris, Winthrop g. Co.
". II. Gosdby & Co, Shearson. ham
mill & Co. Crawford. Patton & Can
non. r. ]. Kimball e. Co., Fred Edey Il
Co. Kean, Taylor G. Co, Butler, Her
rick & Kip. Eastman, Dillon & Co, Hol-
lister. LYON & Walton. J. l.. Graham &
Co.. Josephthal, Louchheim & Co., +. q
c. Randolph, Moore, Leonard q Lyheh'
Jackson & Curtis, King, Farnum & Co.
Hornblower & Weeks and Williamson &
Eouicr