ADMINISTRATION OF THE STOCK EXCHANGE 451
commissions, partnerships, member offices and foreign jointaccount
 arbitrage. It also has charge of all matters relating to
the collection, dissemination, and use of quotations, and can
approve or disapprove telephone, telegraph, or wireless con
nections of member firms.
The Committee on Securities (§ members), subject to the
Constitution and Rules of the Exchange, can make rules relating
 to the delivery of securities on Exchange contracts,” including
 reclamations therefor, irregularities therein, and interest
 and dividends thereon; and also to due bills, contracts for
future delivery and deposits on Exchange contracts. It also
may permit dealings on the Exchange in rights growing out of
listed securities, and make regulations therefor.
The Committee on Stock List (6 members) makes rules
prescribing requirements for listing securities, and receives and
considers all applications for placing securities on the list of the
Exchange. Depending upon the nature of the securities in
each case, and in accordance with detailed provisions of the
Constitution, the Committee in some cases can list and merely
report afterwards, and in still other cases only recommends to
the Governing Committee that issues be listed and leaves decision
 in the matter to the Governing Committee. The Committee
 on Stock List can, however, remove from the list any
security at its maturity, or when its outstanding amounts have
been so reduced as to render it advisable.'*
The Conference Committee (11 members) is composed of
the President, Vice-President, Treasurer, and the Chairmen of
the Committees on Admissions, Arrangements, Business Conduct,
 Law, Odd-Lots and Specialists, Publicity, Quotations and
Commissions, and Stock List. This Committee hears reports
from the various committees and others, advises with them
concerning questions affecting the welfare of the Exchange,
and recommends to the Governing Committee such action as
in its opinion will prove beneficial to the Exchange.
mi Aopendiv XV1e