telephone and telegraph booths, connecting member-houses directly with their offices and branches, and in the telephone room are forty private telephones. On the board room floor are the booths and desks of the odd-lot specialists. The facilities afforded by this service have proven of notable value to New England investors and specu- lators, and have been equally valuable to the Exchange, as the retail purchase and sale of securities (transactions in less than one hundred share lots) represent a vast and growing business in New England. In the stocks covered by these specialists, purchases and sales can be made at the established difference between such prices and those for one hundred share lots. The Exchange membership at present is limited to one- hundred and thirty-nine members. These members are either in business personally or as partners in firms. Partner member- ships represent eighty-six registered firms. These firms have fifty-two branch offices in various parts of the country. Show- ing the inter-relations with the other stock exchanges of the country, forty-five of these firms are also member-firms of the New York Stock Exchange, eight of the Philadelphia Stock Exchange, and nine of the Chicago Stock Exchange. The publication of the daily transaction sheets and the list of securities by the Exchange was begun in 1888. At that date, there were listed on the Exchange one hundred and eighty stocks and one hundred and seventy issues of bonds. There were listed upon the Exchange as of July 1, 1930, the bonds of two hundred and sixty-five different corporations, representing three hundred and sixty-three separate issues and having a face value of $3,074,637,600. Of these corporations, [17]