New-York tribune., 1921-06-28
Ceremonies Mark Opening
Of Curb Trading Indoors
New Building Formally Presented 10 Association +:
New Form of Transacing Business Installed:
Dissenters Continue Market ON Broad Street

Passing from an outdoor to an in
door market, the New York Curb Mar
ket Association Mt 10 o'clock yesterday
morning began doing business in it's
new $1,260,000 exchange at 67 Trinity
Place. At 9.45 soc brokers had ASSEM-
bled to commemorate this event with
appropriate ceremonies, including the
singing of the national anthem and
addresses by the president, e. r, Nc
Cormick, and j. L. Mccormack, chair
man of the realty committee that had
charge of the work resulting in the
construction of building that ranks
in appearance and size only second to
that of the New York Stock Exchange
itself.
On the Broad Street curb, where
these same brokers had previously con-
Quoted their business in securities,
there was rump curb. A band of dis
senters TO the plan for carrying on
trading under roof also assembled
promptly at the stroke of 10. These
men have formed the Stock and Bond
Market of New York, which they assert
will continue TO hold outdoor sessions
along the lines carried on in the down
town financial district for more than a
century. Although they were in readi-
ness to take orders it was apparent
that the business done yesteday had
boen greatly curtailed by the moving
of the Curb Market Association to its
new quarters under a roof.
The first sale on the Curb Exchange
was 100 shares OF Maracaibo Oil, which
appeared on the new ticker service that
takes the place of the former more or
less haphazard way of obtaining quo
tations. This transaction attracted un-
usual attention, as Mr.. Mccormick is
the specialist in the stock.
In formally turning over the new
building to President Mccormick the
head of the building committee re-
called that it was on June 6, 1919, that
the Curb Market Association decided
by resolution to go indoors. He paid q
tribute to the nine members of the
building committee, renzarking that
they had promised, when appointed. to
report from time to time as their work
progressed
day" he added, ''I wish to make
more practical report l wish to pre-
sent this building as the result of two
years of effort and labor~by that COM
mittee and trust that the report will
meet with your approval"
A spontaneous yell of approval was
the response of Mr.. McCormack's clos
ing words. Then the head of the ex-
change assembled the rostrum and said:
GAS president of the New York Curb
Exchange | gladly and willingly accept
the proffer of this beautiful and appro-
pirate edifce, realizing full we'll the
great efforts expended by you and your
fellow directors of the Realty Company
in the completion of this great work.
'"The die is cast. The old ogder is
gone forever. A brand new era is be-
fore us,and we are here, every one ready
and willing to accept the opportunity,
and as we are willing TO make the most
Of opportunities let me point out to
you the esponsibilities incurred. The
future of our exchange does not rest
entirely on the board of governors. Gen
temen, the success of our exchange
rests entirely upon the cooperation of
the entire membership. 1t is the ear
nest efforts of $50 men and should not
be left to twentyfour executives. The
opportunities are yours, the response
bilities are yours. Make the most of
the first; do not shake the last"
Orders executed on the floor of the
new curb exchange are not transmitted
by the sign language that was so pic
turesque feature of trading on the
outside market, but are carried out on
lines similar to the method used on
the "big board" Near the eastern en-
trance are 357 telephones arranged in
tiers overlooking the floor. When an