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and voted to resume trading in stocks unanimously, with price restrictions and after assurances that bankers believed the financial situation had improved. The meeting noted 180 stocks made public, out of the 565 issues on the board. A statement from the exchange's
Committee of Five asserted that the exchange would open again on Saturday, December 12, with hours resuming between 10 and 3 o'clock each day except Saturday, when dealings ended at noon. On the reopening, the
128:, business transacted on the exchange floor was less in 1904 than in 1903, as with other regional stock exchanges in major cities excluding New York. Trust companies in 1904 traded 18,440 shares for $ 3,567,591, banks traded 5,698 shares valued at $ 1,548,878, mining stocks of 17,077 were traded for $ 7,866, and miscellaneous stocks saw 12,144 shares traded for $ 770,767. A great deal of business was also done with United Railways, St. Louis Transit Company, and
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350,000,000 a year in trading, it would make the proposed exchange the largest in the United States outside of New York. St. Louis Stock
Exchange officers refused to talk to the press about the plan, and the exchange at that point had a normal business annually of $ 7,000,000. On May 26, the members of the exchange voted twenty-six to eight in favor of the merger. On June 10, 1949,
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business to
Chicago banks, where the new proposed exchange would be headquartered. a group opposing the merger sought a new ballot on the project, maintaining that the merger would omit from slower moving St. Louis stocks from the Chicago listings, leaving them to be sold over-the-counter in St. Louis.
234:
On June 29, 1949, St. Louis exchange president John A. Isaacs Jr. promoted the merger in a letter, and stated that recent lows in trading were "not limited to St. Louis. The trend has been shared by other regional exchanges. After meeting (on the subject of a merger), it was concluded the only way to
166:
On April 13, 1926, directors of the exchange voted to extend trading time from 75 minutes to two and a half hours, from 10 am to 12:30 pm except
Saturday, "thereby placing the local exchange on a parity with exchanges in other cities." The board also established stock lists of trading quotations. As
136:
reported that stock value in St. Louis banks and trusts companies had increased by $ 3,020,000 since
October 31, due to a "complete revival of confidence" in the St. Louis Stock Exchange. The times stated that brokers related that it was the heaviest buying the city had seen in three years, leaving
230:
They said they "deny the right of any majority of the members of the exchange here to dissolve." On July 14, 1949, the governing committee of the St. Louis Stock
Exchange signed a formal contract to join the new Midwest exchange, overruling the four members firm who had recently voiced opposition.
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On June 29, president of St. Louis exchange John A. Isaacs Jr. declared in letter to exchange members and all St. Louis banks that the merger was "the only practicable means of providing a strong market for midwest companies," and a necessity. He noted that business in the exchange had been drying
153:
After closing for four months during a financial crisis on July 30, 1914, the president of the exchange board of directors announced on
December 4, 1914, that the St. Louis Stock Exchange would open the following week. In a meeting on December 7, the governors of the exchange had a special meeting
206:
On June 27, 1949, the president of the St. Louis
Chamber of Commerce, George C. Smith, said that the proposed September 1 merger between the St. Louis exchange with three exchanges would cause "some grave injuries" to the city. The banks also maintained that they might lose most of the exchange
181:
On August 30, 1948, the press reported that several brokers in multiple cities were discussing a large merger of several midwestern stock exchanges. The plan at that point included exchanges in
Chicago, Detroit, Cleveland, Cincinnati, New Orleans, and St. Louis. With a projected volume of $
167:
of early 1927, Harry S. Rein was chairman of the exchange. On
January 12, 1927, he announced that in 1925, the exchange had seen stock sales totaling 591,966 shares, or $ 32,087,323. In 1926, it had fallen to a total of 382,856 shares, or $ 17,101,763 in value.
186:
reported that the proposed merger had resulted in disagreement within St. Louis financial circles. A key anti-consolidation group was said to include the four companies whose stocks were most active on the local St. Louis exchange:
744:"Exchange Merger Divides St. Louis; Several Bankers See Loss of Business in Move to New Institution in Chicago - Plan Fight on Listings - Cleveland Only Other City to Join -- Detroit, Cincinnati, New Orleans Are Likely"
407:
513:"Stock Trading Opens Saturday; Business on the Exchange to be Permitted with a List of 180 Issues. Governors Act in Unison - Improvement of Financial Situation and Resumption of Business Cheer Brokers"
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them "almost unable to accommodate their patrons." Stock value and trading was for companies such as the Mercantile Trust Company, the Boatmen's Bank, the Mechanics' American National Bank, the
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announced that committees had been elected to serve for one year terms. The constitution and bylaws of the new exchange were adopted on January 3, 1903, and made effective on February 1, 1903.
357:"Five Midwest Exchanges Agree On Sept. 15 for Effective Merger; Chicago, Cleveland, St. Louis, Cincinnati and Twin Cities Stock Marts Will Open as One About 60 Days After That Date"
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681:"Super-Exchange for the Midwest Planned Through 6-City Merger; Project Calls for Centralization in Chicago to Help Offset Losses to New York -$ 350,000,000 Volume Seen"
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The St. Louis Stock Exchange opened in 1899. Trade volume peaked a year later with $ 44 million. In April 1902, St. Louis Stock Exchange president
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On March 26, 1929, the exchange saw a session close without an issue scoring a gain, as "nine issues reached new lows" for the year.
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save an active exchange market for midwestern securities was to concentrate the trading on one large exchange."
145:. On November 13, the latter announced it would reopen its Detroit shops soon as a result on secured contracts.
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132:. Total transactions in 1904 came to $ 10.5 million, against $ 16.4 million in 1903. On November 13, 1908,
828:"St. Louis Accepts Exchange Merger; Governing Group There Signs Contract to Participate in Midwest Market"
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On April 5, 1938, the exchange elected J. Gates Williams as president to succeed president Ben F. Jacobs.
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A.G. Edwards Company History in the : International Directory of Company Histories
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The official merger between the five midwest exchanges was set for September 15, 1949.
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reported that "opening prices were steady and demand for high-grade securities good."
96:. Opened in 1899, in September 1949, the St. Louis Stock Exchange was acquired by the
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41:
482:"St. Louis Bank Stocks Rise; Marked Increase in Value Owing to Return of Confidence"
772:"Isaacs, President of St. Louis Exchange, Sees Merger of Midwest Group a Necessity"
435:
625:"New Lows at St. Louis; Day on Exchange Closes Without an Issue Making a Gain"
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800:"4 More Oppose Merger; Plan for Midwest Exchange Draws New Foes in St. Louis"
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More protests were lodged in early July 1949, by four brokers in the firm:
262:
467:
Annual Statement of the Trade and Commerce of Saint Louis for the Yea
243:
In September 1949, the St. Louis Stock Exchange was acquired by the
436:"Constitution and by-laws of the "St. Louis Stock Exchange.""
490:. New York City, New York, United States. November 13, 1908
330:
A Preservation Plan for St. Louis Part I: Historic Contexts
605:. New York City, New York, United States. January 13, 1927
549:. New York City, New York, United States. December 4, 1914
521:. New York City, New York, United States. December 8, 1914
689:. New York City, New York, United States. August 31, 1948
365:. New York City, New York, United States. August 17, 1949
633:. New York City, New York, United States. March 27, 1929
577:. New York City, New York, United States. April 14, 1926
836:. New York City, New York, United States. July 15, 1949
780:. New York City, New York, United States. June 30, 1949
752:. New York City, New York, United States. June 11, 1949
661:. New York City, New York, United States. April 6, 1938
808:. New York City, New York, United States. July 8, 1949
141:, and industrial and manufacturing stocks such as the
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716:"Stock Exchange Merger Protested in St. Louis"
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301:List of stock exchange mergers in the Americas
296:List of former stock exchanges in the Americas
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892:1949 disestablishments in the United States
882:Former stock exchanges in the United States
211:up, with much of the business moving east.
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724:. New York City, New York, United States
470:, Merchants' Exchange of St. Louis, 1905
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124:According to stock exchange president
856:"Stock Trade Plan Urged in St. Louis"
7:
569:"St. Louis Exchange's Trading Hours"
291:St. Louis Mining and Stock Exchange
201:Griesedieck-Western Brewery Company
14:
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197:F. Burkart Manufacturing Company
143:American Car and Foundry Company
887:1899 establishments in Missouri
597:"Trading on St. Louis Exchange"
1:
269:Business and economics portal
541:"St. Louis Exchange to Open"
408:"Stock Exchange Committees"
113:Early years of the exchange
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653:"Heads St. Louis Exchange"
224:Edward D. Jones & Co.
162:Market and policy changes
139:National Bank of Commerce
440:St. Louis Stock Exchange
333:, Government of Missouri
220:A. G. Edwards & Sons
149:Financial crisis of 1914
86:St. Louis Stock Exchange
19:St. Louis Stock Exchange
444:New York Public Library
413:St. Louis Post-Dispatch
389:, St. James Press, 2000
189:Wagner Electric Company
90:regional stock exchange
28:Regional stock exchange
249:Midwest Stock Exchange
245:Chicago Stock Exchange
102:Midwest Stock Exchange
98:Chicago Stock Exchange
861:Chicago Daily Tribune
228:I. M. Simon & Co.
193:Laclede Steel Company
126:George Herbert Walker
68:George Herbert Walker
712:The Associated Press
306:Economy of St. Louis
283:United States portal
216:Paul Brown & Co
94:St. Louis, Missouri
38:St. Louis, Missouri
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833:The New York Times
805:The New York Times
777:The New York Times
749:The New York Times
721:The New York Times
686:The New York Times
658:The New York Times
630:The New York Times
602:The New York Times
574:The New York Times
546:The New York Times
518:The New York Times
487:The New York Times
362:The New York Times
247:, and renamed the
184:The New York Times
134:The New York Times
100:, and renamed the
714:(June 28, 1949).
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92:located in
70:(president)
876:Categories
450:October 1,
420:October 1,
393:October 1,
312:References
255:See also
75:Currency
34:Location
108:History
48:Founded
446:. 1903
239:Merger
199:, and
88:was a
56:Closed
156:Times
842:2017
814:2017
786:2017
758:2017
730:2017
695:2017
667:2017
639:2017
611:2017
583:2017
555:2017
527:2017
496:2017
452:2017
422:2017
395:2017
371:2017
339:2017
226:and
84:The
51:1899
24:Type
78:USD
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