Word: market
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Dates: during 1930-1939
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...full roster of U. S. stockmarkets including the Honolulu Stock Exchange and the Manila Stock Exchange numbers 30.* Out of that total 21 are registered with the Securities & Exchange Commission as "national securities exchanges." The rest, largely local in character, enjoy temporary exemption pending SEC investigation. Even among registered markets only two are really national institutions-the New York Stock Exchange, which accounts for about 86% of the total dollar volume of market trading, and the New York Curb Exchange, which accounts for 9%. The remaining 5% of the business done on registered exchanges is shared by 19 little stockmarkets...
...Board and the Curb the leading U. S. stockmarket is the Boston Stock Exchange, a large part of whose volume is made up of trading in standard stocks with a State Street flavor. The Chicago Stock Exchange ranks fourth, the San Francisco Stock Exchange fifth. Smallest registered market is the New York Real Estate Securities Exchange, where, during the depth of Depression, days would pass without a single sale. Typical little stockmarkets are the following...
...Louis has an exchange about one-half the size of Cincinnati's. Last week one of its 50 seats sold for $1,500 compared to a 1929 high of $20,000. The St. Louis market is largely investment, and 90 out of the 100 issues traded are local. A thousand shares is currently a big day. President is Benjamin Franklin Jacobs, 57, a cordial, smartly-dressed broker who thinks that the SEC is a very good thing indeed...
Pittsburgh's market, which grew out of an oldtime oil exchange, is housed in a one-story building on Fourth Avenue, Pittsburgh's Wall Street. About $30,000,000 worth of stock changed hands there last year, giving it ninth place in the list of registered exchanges. Most active stock last year was Carnegie Metals, which has nothing to do with steel. The company owns gold and silver mines in Mexico. Another Pittsburgh favorite is San Toy Mining, which also owns Mexican mines. One hundred shares of San Toy cost $2. President of the Pittsburgh Exchange is Ralph...
Philadelphia boasts the oldest Stock Exchange in the country. It was formally organized in 1790, though an informal market was established nearly a half century earlier. Listings in those days included broadcloth and slaves. Before the telegraph, quotations were dispatched to Manhattan in ten minutes with semaphore systems. For the past 75 years Philadelphia has been asking for quotations from Manhattan, and the importance of its Stock Exchange has dropped below that of even Boston, San Francisco or Chicago...