will meet daily for the transaction of general business relating
to matters of exchange, to be called the Boston Stock and
Exchange Board. The system, which they will adopt, will be
similar to the one adopted by the Board in New York, and
from which the mercantile part of the community has received
so much benefit.”
The immediate factor in starting the organization, at that
particular time, was the conviction that such business as then
existed could be handled more advantageously if there were
some regular and common meeting of the brokers, and an exchange
 of information as to market matters. This conviction
appeared to be confirmed by the progress of the Board which
had been organized in New York seventeen years earlier. Up
to this time, the Boston brokers had had no common meeting
place; indeed, many of them had no offices, orders for execution
 being deposited by clients in boxes posted in one of the
mercantile buildings. The business was of a most limited character,
 consisting mainly of the purchase and sales of state bank
notes, of exchange on the then commercial centres, of certain
public securities, and of state bank and insurance companies
shares. As indicative of what was regarded as the active list are
appended the quotations issued by Mr. Degrand, a founder of
the Exchange, at the date of its organization:

Jnited States
American
Atlantic
Atlas (new bank)
Boston
3unker Hill

BANK STOCKS
914 per cent advance
1 per cent advance
3 per cent advance
5 per cent advance
$54 per share
535 per cent advance

ls
$100
100
100
100
50
100

1