452 . THE WORK OF THE STOCK EXCHANGE 
In addition to these standing committees, the Governing 
Committee also appoints from its membership special commit- 
tees, for special purposes outside the particular province of any 
standing committee. 
Subsidiary Corporations.—To further its work, the New 
York Stock Exchange has also several times organized sub- 
sidiary corporations, all of whose stock is held by the Govern- 
ing Committee as trustees for the whole membership of the 
Exchange. 
The Stock Clearing Corporation, as we have seen,*® super- 
vises the clearance and settlement of Exchange contracts and 
otherwise facilitates the transaction of Exchange business. The 
New York Quotation Company facilitates the collection and 
dissemination of Exchange quotations. The New York Stock 
Exchange Building Company holds title to the Exchange’s 
building and fixtures, and makes repairs, improvements, and 
extensions thereto. The New York Stock Exchange Safe 
Deposit Company maintains security deposit vaults for the con- 
venience of Exchange members. 
Special Departments.—Many special departments exist in 
the Stock Exchange organization, all under the general but 
complete authority of the Governing Committee, but each 
under the immediate supervision of some particular committee, 
officer, employee, or subsidiary corporation. The Statistical 
Department in the office of the Economist, which was inaugu- 
rated in 1924, is an example. In the Stock Exchange building 
are also located certain conveniences to its members, officers or 
employees, such as its medical department, barber shop, etc., 
and also the quarters of the Stock Exchange Luncheon Club. 
Employees of the Stock Exchange.—This general account 
of the human mechanism of the Stock Exchange administra- 
tion must include mention of its many and various employees. 
These range from experts of long experience who, under the 
"3 See Chapter XII.