Word: curbed
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Dates: during 1920-1929
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...Testify or get out," was the edict which the New York Stock Exchange and the Curb Market gave to their members last week. Recent exposures of fraud on the part of stockbrokers (notably the case of E. M. Fuller & Co. of the Consolidated Stock Exchange) led to the attempt to " clean up " the exchanges. The Consolidated Stock Exchange is the one most vitally concerned, but the others are taking the cleaning up on their own shoulders...
...could be dealt in. This need was supplied during the Civil War by an open-air market which assembled daily in Broad Street, and which, with its finger signals and turbulent excitement, was for years one of the sights of New York. Because of its open-air character, this " Curb Market," as it came to be called, utterly lacked the severe disciplinary regulation for which the Stock Exchange was noted, and while economically an essential part of financial machinery, its ethical tone was distinctly low. In 1921, however, the better element of Curb traders and brokers erected a building...
...noteworthy fact that the 100 odd failures of supposed brokerage houses in New York occurred during the long rise in stock prices during 1921-22, while the recent insolvencies of prominent Curb houses have occurred during a temporary rally after a severe decline in stock prices this Spring. The latter were consequently due rather to the step taken by Curb authorities (under the vigorous leadership of John W. Curtis, President of the New York Curb Market Association) to investigate and check wrongful practices by its members, than merely to the change in security values...
...genuine proof of the improved character of the Curb Market since it abandoned the open sidewalks and went under a roof about a year ago, is the more severe regulation exercised by its officers over the way its member firms conduct their business...
...York Curb Market Association is formulating plans for extending its quotation service beyond the metropolitan area to which it is now limited, to Chicago, Boston, Philadelphia, Detroit and Pittsburgh by June 1. This step is in response to an old demand in the Middle West for more accurate and speedy quotation service on the lines long furnished by the Stock Exchange. Completion of this step will place the Westerner more on a par with the New Yorker in the purchase and sale of Curb securities...