twenty-seven were railroads. As of the same date, there were 
listed the shares of three hundred and thirteen corporations, rep- 
resenting fifty-five mining enterprises (largely copper), twenty- 
four railroads, sixty manufacturing plants, and one hundred and 
seventy-two miscellaneous enterprises including, in the last 
group, public utilities, holding companies, and investment cor- 
porations. 
In all of these issues there is a present material local owner- 
ship. Further, it is interesting to note that of the three hundred 
and thirteen corporations, ninety-six are essentially New Eng- 
land in property, ownership, and management, and twenty-nine 
others, now of national interest and importance, had their ori- 
gin and direction from Boston efforts and capital, and local 
ownership and influence are still great in their affairs. 
STOCK EXCHANGE CLEARING HOUSE 
ON January 18, 1892, a Stock Exchange Clearing House was 
organized, the second of its kind in this country. The purpose 
of it was to reduce the money requirements for the daily settle- 
ments and to minimize the risks of securities delivered between 
offices. Later, a Comparison Department was added so that 
comparison tickets might be delivered and exchanged at a 
common point. 
The Exchange Clearing House employs twenty persons, as 
against four when it was started. 
The first day’s business may be of interest as indicative of 
changes in the Street. Forty-three firms were represented in the 
Clearing of that day, and the actual number of shares involved 
was 17,300, with a value of $1,688,550. 
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