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Show I EXCHANGE AFFAIRS I tiEEDJXCTI Governing Committee Meets to Discuss Belter Protection HI of Future Trades. I FAILURES PROVE CHANGE NECESSARY H Several Methods of Mutual Pro-tection Pro-tection Arc Nojv Under Con-sideration. Con-sideration. That some bolter method of protcct-ing protcct-ing the members of Die Salt Janice Stock and JHnfnp cxclinnge 13 necessary, giving a. safe and certain foundation to all fu-luro fu-luro trad os. Is agreed to be absolutely necessary by the local brokers. In view of the recent failures of brokers which culminated yesterday In that of James Hj .A. Hamilton. Tho embarrassment of Mr. Hamilton was a great surprlso to every - Hj one connected with the exchange, and this misfortune cast a cloud of gloom over tho cntlro board yesterday. For tho purpose of discussing the pro-ventath'e pro-ventath'e measures to bo employed in the future, tho governing commlttco met yes-tcrday yes-tcrday afternoon Immediately after the day's call. No dcfinlto action was taken by the committee, as Investigations are Hj pending, and It. is desired to reach a con- elusion that will be fair to all and which will assure the retention of tho prestige of tho Institution and further futuro business dealings. There are several methods which might be Invoked to guarantee the soundness of every deal mado on the exchange. Per- i haps that mostly favored Is to-Inaugurate a system of financial reports on the part of members at stated Intervals, which would Inform the exchange of the finan-rial finan-rial fitness of all members for the trans-action trans-action of business. Another method mentioned Is to make certified checks fl compulsory in the exchange for stocks. This would mce with opposition, cspo-dally cspo-dally from the hanks, but It would cllin-inate cllin-inate all danger of checks being returned unpaid. Others favor a clearing house . system, which quickly would correct In-solvency. In-solvency. The members aro determined that sonio change be mado In the present system, as mutual confidence is nccessarll'- es- Bb fcentfal to the success of members and HJ exchango alike. |