Evening star., 1922-12-30
BY WILLIAM F. HEFFERNAN.

ISIcHCe Al OFSauIzdllOu huo"u 81 LAC
tho New York curb market, It is In
business in stocks and bonds at the
corner of Broad street and Exchange
. place, New York city. Without delv-
| ing too far into the past history Of
the New York Curb Market. It is In
teresting to note the rapid progress
and expansion this organization has
made during the year 1922.
Not long ago officers and members
! OF the New York Curb Exchange came
to the realization that this market
such an essential factor in the world
of finance that steps were taken to
prepare more adequate facilities for
trading and to meet the influx OF new
securities that looked to tho curb ex-
! change as place for listing. where
could be found a ready and reliable
market.
Monday, June 81. 1921, marked the
beginning of new chapter In the
! history of the New York Curb Mar
ket. On this date the organization
moved into its magnificent new build
ing at IS Trinity place. Now York
city. AS one Of the means for accom-.
pltsh!ng this tremendous under taking
II was necessary to increase its Mem
bership dues. Previous to this date.
and when the curb market transacted
business In the open, membership
dues approximated s2S5 year. While
the new edtf1ce was being erected an
assessment OF $500 was imposed
upon each member. for which he was
given a realty bond.
Curb Memberships Sought.
The demand for membership on the
=; curb exchange is without equal in
any other stock market in the coun-
try at the present time, and as an in
stance of the appreciation Of seats on
| the curb exchange. more than one
has sold for the sum Of $4,000 dur
! Ing the year 1922 The membership
/ quota is limited 70 $50 members.
| After moving indoors the exchange
also installed ticker service that is
| operated along the same lines as that
OF the New York Stock Exchange
| Every transaction that takes place on
i the floor of the exchange is recorded
| on the tape within less than a minute
| arter Its execution, in the offices and
customer buying or selling securities
may see his own transaction officially
prtnted.
! These and many other recen, &C
i complishments go to give the New
| York curb market its place as Americas
| second LrSest stock market.
Functions of Curb Market. !
| Among the various functions Of
that market are: To provide a "prt-
mary" market for introducing the
securities of such industrial, metal.
oil. public utilities Of other corpor-
atoms as are eligible for listing under
| the strict requirements Of the ex-
change; to furnish temporary pri-
! mary market for the preliminary is
! sue Of securities of well known
i established companies which are be-
| Ing reorgantzed or are issuing ad-
dltlonal stock, usually represented
by rights: to provide a market for
! Issues In the formative period OF their
F.. corporate existence. which although
. they may represent the most iesiti-
| mate form Of enterprise, are more or
+: less speculative even under most
+! favorable ctrcum stances: to provide a
market for such other stocks or
bonds. which for various reasons are
| not listed Oh any other exchange.
! Tho history Of the New York cu-p
, .1la-,.es is reple,e With examples O:
; securities that have risen sensation
, the following tabu!a,:on OF some OF
; vances. General Asphalt from 234
to 1917: Houston Oil. 1873 to 172:
Consolidated Copper Mines. to 1oA;
AnslG tnsa1 4lners on ~ X oas to 81 Ma
yard. 73 to 22O; Merritt Oil. IL to 43H
United Verdi Extension 5as to 4sh:
| International Petroleum. sss to II:
Cramp Shtpbulding. ass4 to e10;
! Chevrolet Motors. SO to 21S
s,aSs and ors Of the the ssoss5
dealt in. on the New York curb market
is supplied by the large number Of Sc
curities that have graduated, to the
New York Stock Exchange.
Graduate to the Big Board.
Before being transferred to the New
, York Stock Exchange many Of these
securities scored spectacular adj
vances on the New York curb market.
Following is q partial list OF secu-i-
New York curb market to the New
! York Stock Exchange within recent
months: Air Reduction. Ajax Rubber.
Alaska Gold. Alaska Juneau. Amer
lean Drug Syndicate. American In
ternational. American Safety Razor.
Copper and Zinc, cerro de Pasco. Chile
Copper, Coco-Cola. Cosden e. Co.,
Fisher Body. Fisk Rubber. General
Asphalt, General Motors. Haskell &
Barker. Hendee Manufacturing Hous-
ton Oil. Hupp Motors. Inspiration
rine, International Motors. 1nvincible
OIL, Island OIL and Transport. Jewel
Tea, Kelly-Springfield Tire, Kenne-
colt Copper. Keystone Tire and Rub
ber Kresge, Loews, Inc; Loft, Inc;
F.; Mariand Oil. May Department fhe
new shares OF se5 par value are no"
being traded in on the curb market !;
Miami Copper, Midvale Steel, Mont-
gomery Ward & Co., National Conduit
and Gable, Nevada Consolidated Cop
per, Oklahoma Producing and Rein
ing, Orpheum Circuit. Phillips Pc
Consolidated Copper. Republic Motors;
St Joseph Lead, Seneca Copper. Shell
60. 1Royal Dutch); Sinclair Oil,
standard Oil OF New Jersey. Strom-
berg Carburetor. Submarine boas. gu,
nerior OIL, Tobacco Products: Uni.eo
tail stores. Utah Copper, Nanaoium
CORPORATION, vivandou. Weber and
He,ibroner and White Motors. These
and many other issues were nrst
fraded in on the New York curo ex-
| change.
Many New stock Issues.
During the past year numerous
companies have declared stock divi-
dends to shareholders and have re- re-
adjusted their capitalization. II ,,n,s ms
new stock in many instances. These
shares have found a ready market on
the curb, and have been ADMITTED 70
tradine on a when, as, and II issued
basis, in many cases within a1...tian less tnan
a week after these rec2piea''Saeioa
p1ans have been approved.
Some Of the largest corporalon IN
the country have their securities list.
ed on the New York curb market. ~
has always been known as the homo
market for Standard Oil stocks. sew
eral members Of this group have peen
transfe-red to the New York Stock
ESchanre. but the majority still re-
main on the curb list and are in.
stances Of the class Of securities that
come under tho trading requirements
Of this oreanization.