A Brief History of the Cincinnati Stock Exchange
On Mar.7, 1885, 12 men conducted a meeting at 29 West Third St., which discussed the formation of a stock exchange in Cincinnati.
10 of the 12 men drew-up and signed an agreement to meet each day in the E.N. Laralde office. E.N. Laralde reported for The Chronicle, a journal published in 1890 devoted to the interests of insurance, for the “purpose of buying and selling securities.”
H.P. Boyden was the first president of the Cincinnati Stock Exchange and E. N. Laralde was the secretary-treasurer.
H.P. Boyden was the first president of the Cincinnati Stock Exchange and E. N. Laralde was the secretary-treasurer.
The first formal meeting took place Thursday, Mar.12, 1885.
Besides the original 10 men participating in the stock exchange, the membership increased to 17 by the election of H.B. Morehead, William Fairley, George Eustis, Israel M. Simon, H. Huseman, E.L Heinsheimer and Albert Netter.
The Cincinnati Stock Exchange adopted its permanent constitution Feb 16, 1886.
The application for the Cincinnati Stock Exchange to operate not-for-profit was filed with the secretary of state in Columbus, Mar.25, 1887. This original document, granted March 29, that year, hangs in the reception room exchange quarters in the Dixie Terminal Building.
On April 8, 1960, the stock exchange celebrated its 75th year. 80 brokers, bankers, civil officials and corporate presidents gathered at a black-tie banquet at the Queen City Club to help the still-active exchange celebrate its milestone birthday.
In 1961, Charles H. Steffens, president-secretary, said the exchange applied to the Securities and Exchange Commission for permission to trade in five more stocks listed on the New York Stock Exchange and elsewhere. The application gave the Cincinnati Exchange 112 stocks that it did not list, but did trade.
1901, the price for membership was $500.
1906, the price of membership was $5000. Membership had to be purchased and the applicant approved. The highest price on record was in 1929, when $38,500 was paid. In 1936, the lowest price on record was $2,050.
December 1958, the price of membership was $8000
Sept.25, 1979, The Securities and Exchange Commission granted a three-year extension to the Cincinnati Stock Exchange to continue its experiment with a fully automated, electronic trading system.
