for the highest year’s trading on the Exchange during its pio- 
neering period. 
The resultant effect of these various factors are reflected in 
the records of the transactions and the price of memberships 
for the past twenty-five years: 
TRANSACTIONS FOR TWENTY-FIVE YEARS 
1929 
1928 
1927 
1926 
1925 
1924 
1923 
1922 
1921 
1920 
1919 
1918 
1917 
Number Shares 
Stocks 
24,625,115 
19,069,761 
12,171,549 
9,562,031 
9,238,304 
3,300,862 
4,783,324 
3,495,041 
3,974,005 
6,696,423 
9,235,751 
3,939,008 
5,090,982 
Face Value 
Bonds 
$11,147,245 
8,655,199 
7.742,313 
153,447 
- 141,090 
3,624,450 
20,718,750 
19,064,750 
16,198,950 
24,674,300 
28,039,700 
18,151,940 
17.724.810 
1916 
1915 
1914 
1913 
1912 
1911 
1910 
1909 
1908 
1907 
1906 
1905 
Number Shares 
Stocks 
13,078,588 
12,603,768 
3,522,187 
5,705,588 
11,134,908 
7,744,737 
10,679,572 
15,507,303 
13,002,235 
14,308,687 
17,444,893 
16.080.827 
Face Value 
Bonds 
£15,650,300 
9,835,600 
6,617,400 
10,569,300 
12,319,000 
15,547,230 
15,253,387 
32,365,820 
30,828,000 
7,682,700 
8,221,430 
14,833.605 
STOCK EXCHANGE MEMBERSHIPS 
Price Range for Twenty-five Yiars 
High 
1929 $45,000 
1928 30,000 
1927 14,500 
1926 9,250 
1925 7,000 
1924 8,500 
1923 8,000 
1922 8,500 
1921 9,500 
1920 16,500 
1919 17,000 
1918 10,000 
1917 10.500 
Low 
$35,000 
15,500 
9,000 
8,500 
5,600 
5,500 
5,500 
3,000 
3,500 
38,500 
9,500 
9,500 
10.000 
Last 
$45,000 
30,000 
14,500 
9,250 
7,000 
8,500 
5,600 
8,000 
8,500 
8,500 
17,000 
9,500 
10.500 
1916 
1915 
1914 
1913 
1912 
L911 
L910 
1909 
1908 
1907 
1906 
1905 
High 
$17,500 
17,750 
15,000 
18,000 
23,000 
27,000 
37,000 
38,000 
36,005 
38,500 
37,500 
30.000 
Low 
$16,000 
15,000 
11,000 
14,500 
23,000 
27,000 
27,000 
35,000 
25,000 
31,000 
23,000 
23.000 
Last 
$16,000 
17,750 
11,000 
15,500 
23,000 
27,000 
30,000 
38,000 
36,005 
31,000 
37,500 
27.000 
[23]