The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1919-08-16
TONOPAH To
have STOCK
EXCHANGE

change has been incorporated and.
according to reports from Tonopah,
will open about August is under
direction of H. B. Cheesher. who re-
Gently arrived in Tonopah. The
opening of an exchange in Tonopah
has long been under discussion and
it is felt that the new move will be
of great benefit to the Divide dis
trict and Southern Nevada gener-
ally.
This mornings Tonopah Times
says of the proposed stock ex-
chang:e
The, new exchange is to be known
as the Tonopah Divide Stock Elk
change and will occupy quarters at
100 Main street, formerly known
as Red Cross headquarters. The
exchange is to be under the guild
ance of H. B. Cheesher, a man of
wide experience, and who Ome to
Tonopah highly recommended. The
exchange has been incorporated un-
der the laws of Nevada. The OPEN
ing will probably take place on
August Is.
"Since my arrival in TOnopah,"
said Mr.. Cheesher yesterday, 1.-The
need of the opportunity for local
trading in mining stocks has be-
come apparent to me, so | shall
open a public CALL" sometimes re-
ferred to as a public stock exchange,
where the public can trade for
themselves through the assistance
of an auctioneer.
Such a public stock exchange is
not new by any 1t has been
and is successfully operated in many
cities such as Denver, Kansas City,
Chicago. Tulsa, Oklahoma City,
Forth Worth, Dallas. Wichita Falls,
Ranger, Burkburnett and many
other cities too numerous to mem
ton, and it is a well known fact
that they have given universal salts
faction and received the approval
and support of the investing public.
"Our institution will be known
and conducted under the name OF
the Tonopah Divide Stock Ex-
chance, a corporation organized IN
der the laws of Nevada. Our call
will be carried on under a fixed set
of rules similar to those OF the lead
ing stock exchanges If the country
and all transactions will be carried
out on a strictly business basis. The
seller and buyer will each sign a
written confirmation of the trans
action Immediately after it is made.
The confirmation will set forth that
the seller will deliver his stock to
the exchange clearing house be-
fore 10 O'Clock on the morning OF
the next day and the buyer will pay
in check or cash at the same hour.
By IL O'Clock we will have made
proper record of the stock and have
the check properly v~erified-if the
bnyer gives us a check-and will
then deliver the money to the seller
and the stock to the buyer.
by this mode of t~ransacting bus
mess one not only has the pleasure
of making the trade Immediately.
but also the satisfaction of know
ing the exact market and that the
transaction is fully consummated
the following morning through the
local clearing house.
should a trade fail at the call in
the evening, orders cal be left at
the close which it may be possible
to take care of on the New York
or Philadelphia markets during tic
.wo end one-half hours the follow
ing morning before tire San Fran
cisco stock exchange opens, or on
tie San Francisco stock exchange
afstr it opens.
within a short time the quota
lions made upon the TOnopah Di-
vide exchange will be accepted as
the prevailing prices on the eastern
market openings. 1t has been proven
in the past that the public will fol
low and be guided by the quotations
made by a public call near the
mines rather than from a point far
away"