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Show ' The fact that the report of the committee appointed to recommend changes in the rules constitution and by-laws regulating the stock and mining exchange is now under consideration by the governing board and will be presented to the members of the exchange in a few days has aroused considerable interest as to what changes should be made. : It is said that the report will embody a recommendation that the corporation be dissolved, to be supplanted by an association. While a majority of the members mem-bers will probably favor this! plan, all will not, and some of the brokers contend that it will require the assenting vote of every share to take such action. As to Just what the report embodies, however, the governing board does not wish to say until it has brought the matter before the exchange. There is, nevertheless, among many of the members a feeling that the relations rela-tions of the exchange with the public would be benefited by making several changes from the methods and rules in force at the present time. One of the most radical suggestions is that made by Ralph Guthrie, who would like to abolish the caller and the "bull pen." substituting "trading posts," with a few of the stocks listed at each desk, where the members could gather and transact their business without waiting until a particular stock was reached on the call. Mr. Guthrie believed that the saving in time and money would be great. Inasmuch as many stocks never traded, in are called day after day. He would also have all settlements made under clearance-house methods, thus protecting pro-tecting every broker from receiving worthless checks, and saving much time In making deliveries, Harry Joseph said that, in his opinion, the main object was the complete protection of the trading public. Every company whose stock is listed on the exchange should be compelled to make, at regular prescribed Intervals, sworn statements as to the exact condition of its affairs, so that no one would be deceived de-ceived as to what the stock's true value was. M. M. Miller, a member of the governing board, said that the listing eom-mlttee eom-mlttee should take pains to list no property that had not the prescribed Intrinsic value. Harry Cole thinks that the weak point Is the failure of the listing committee to use sufficient care in putting stocks on the board. Protect the customer, he says, by making the value of every stock offered a matter of public knowledge. M. D. Joseph says that the member of the exchange must co-operate to weed out such stocks as are listed for gambling purposes, and such as are held by a pool, where the reported trading is fictitious. ' . |