ing and one about two in the afternoon, although the second board was sometimes omitted. It was not until 1885 that seats on the Boston Stock Exchange were abolished and continuous daily sessions from 10 A.M. to 3 P.M. were instituted. While the time for opening the “Boards” was fixed, the termination was uncertain, sessions running until the transaction of all busi- ness had been finished, so that in busy times the first session ran almost up to the opening of the second. Prior to 1885, the President of the Exchange opened each session and, taking up each stock in which trading was per- mitted, “called” each stock in turn. Upon the call of a stock, all members having orders in it would state their position and endeavor to effect transactions. When all had been ac- complished, the President would then proceed to call the next stock, and so on through the entire list. At stated intervals, all business would be halted until the Secretary of the Exchange, who kept a record of them, would read over the list of com- pleted transactions up to that time for verification. In the event of any dispute, business was again suspended until the Presi- dent, upon a vote of the members present, could decide upon the rights of the matter. Transactions originally were private and it was not for a dec- ade after its founding that the Stock Exchange gave to the press its quotations. The continuity in the membership of the Exchange has been one of the features of its history. Although within four years of its centenary, the men who have at any time been members therein have scarcely exceeded eight hundred and fifty, and the sons of two of the founders are active members at present. [15]