APPENDIX 
547 
listed stock issue which may artificially increase its total number of 
listed shares without similarly increasing its aggregate market value, 
it has been necessary to “correct” this inclusive share index so that 
it may not minimize the average price appreciation which it may show. 
The total number of issues listed on the New York Stock Exchange, 
at five-year periods since 19Qoo, are given in the following tables: 
U. s. U. S., State, Foreign Utility & 
Year Government County. & City Government Railroad Industrial Total 
1900. . 795 
1905. . 907 
1910. . 023 
191§.. nab 
1920. . 
1925. . 
1930. . 
Listep BoND ISSUES 
~~ 
[.1STED SHAR 
- Ly 
Year 
Banl:« 
Friggt C 
“Austria 
laneo: 
1900. . . 
1905. ...... 
1910..... 
1915...... 
1920.... 
1925. ....... 
1020 
“al 
362 
371 
426 
516 
682 
026 
1,293 
(IIIe) The stock posts on the floor of the Exchange have them- 
selves been subject to a process of evolution, particularly in the past 
decade. Until 1929 they were posts of substantial size and height, 
with a number at the top, price-recording dials and price sheets on 
the sides, and a circular seat at the base for specialists and other 
members; a tube station was attached to each post. The rapid increase 
in share listings and dealings during 1925-28 rendered desirable 
some system for segregating the markets for particular share issues 
which would be more economical of floor space. The Committee of 
Arrangements devised the present new stvle of stock post, each of 
which can accommodate over 100 different stock issues, as against 
only about 25 for the former posts. The 20 old posts were accordingly 
replaced in 1928-29 by 12 of the new posts on the main Exchange 
floor. 
The new type of trading post is U-shaped, and permits about twelve 
clerks to be stationed inside. This allows Exchange members, and 
particularly specialists, to enjoy telephone communication and clerical 
assistance immediately at the stock posts—most useful facilities pre-