The Boston Stock Exchange

Bibliographic data

Monograph

Identifikator:: 1847184839

URN:: urn:nbn:de:zbw-retromon-240916

Document type:: Monograph

Title:: The Boston Stock Exchange

Edition:: Priv. print

Place of publication:: Boston

Publisher:: Privately printed

Year of publication:: 1930

Scope:: 32 Seiten; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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BEGINNINGS OF THE EXCHANGE THE organization of the Boston Stock Exchange was the im- mediate work of thirteen local brokers. These were: Henry Andrews, Mathew Bolles, Benjamin Brown, Jr, J. W. Clark, P. P. F. Degrand, Samuel Gilbert, Jr., Enoch Martin, Edmund Munroe, Samuel G. Williams, Thomas R. Sewall, John E. Thayer, George M. Thatcher, and Charles Torrey. These men represented those most active, at that time, in the handling of securities and of domestic and foreign exchange, and in the purchase and sale of specie. They were active, too, particularly Mr. Degrand, in the development of the local rail- roads and in interesting the Commonwealth in granting assist- ance to those projects. As stated, the original name adopted was the Boston Stock and Exchange Board. As soon as the Board was properly or- ganized, the members assessed themselves $100 each as an initi- ation fee. This was later advanced to $200, and again increased to $400, and still later to $2000, as the Exchange grew in size and importance. It was not until about 1885 that memberships, or “seats,” were considered to have a transferable value. Within ten years after its formation, the Exchange member- ship increased from thirteen to thirty-six, and within the fol- lowing decade to seventy-five members. The long continued business “boom” of 1879 created such a demand for member- ships that the Exchange then voted to sell enough additional ones to bring the number to one hundred and fifty, where it remained for a number of years, when it was reduced to one hundred and thirty-nine by the purchase and cancellation of eleven memberships. [13]

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