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]