Show n nil I CK EXCHANGE AD SAYS WAR AR of Methods Made Necessary I IS TRACED I jg Requirement Make Failures Few recent cent war period with all allt t e Ing and disorder which ItI it I nevertheless nevertheless caused a reoh re- re oh of almost all American I methods methods and institutions d 5 E. E H. H II IL Simmons t f the the New York stock ex- ex J who vho h addressed members of niJer m er of ot commerce at a ape ape- luncheon Monday with i F S S. Streit I of the Stock Clearing corn corI cor- cor n also of New York arrived inday on a two weeks' weeks tour v west st our our national experience lose iOse times of stress and during the late war the New Newt Stock t k exchange has emerged I ever in ln the light of or 10 P. P illon as a pillar of strength in war wal as well vell as in T he ie widening of or the Amen Ameri- ity investing public oca oc- oc is f a It result of the Liberty has likewise exI ex- ex I I the public contacts of the theom gefrom om an au affair Involving ds of persons to one ns of persons f m New w York stock exchange Dr in 1817 More than business D nT is s today what its past e eVo- eVo o ru the course of a a. cen- cen made it ft it asserted Mr who Is a nepheW v of pf the I u Harriman who with his hiss s gained gained the cognomen Jr f of the Empire of the theas thea's as a's I IS TRACED i e K past years the New w Ie Ock exchange has grown siu organization with thirty thirty- ers to the fixed member- member oo JOO The securities admit admit- upon it have ha mount- mount few few t few stock and bond and is isi r i minions ml ns is hi alt 2700 O OS es S including domestic and nd I I i roughly at seventy I dollars Where in the beI be- be repreSented only a local loca 1 I enter it is now a nan na- na lina n a international securities t Circumstances which In ning ig literally forced the theto theto aning to wander from attic attla to cel- cel the Wall street district so that now now it is islia l InSa lia ra lofty building of ot its T sing listing ing requirements of the tk 1 stock exchange are un- un the of any exl ex- ex l n the world A company's Ia a ives are required through questionnaire to answer ange of questions concern- concern and the enter enter- I I represent The code of stor for listing has developed urse of anti and experience of American stockbrokers jy f dealers pose in obtaining this Ins In- In s 5 not to endeavor to de- de I hether a security is or is d Investment but simply who may pur- pur the exchange what hat they The exchange frankly p 0 Infallible method of de- de beforehand how any 11 turn out No degree foresight no amount of can ever qualify give absolute judgment alters as these But the oes Insist the public lublic be essential fa fats facts ts concern concern- ies which are aie admitted FAILURES I I on business conS con- con ps S account of transactions change hange and the course of tji a view to tp determining improper transactions are areU U t Another of this commits commit commit- ps s Is to take fake cognizance of Iclal lal Condition ondit ion of members change hange han e an and l i their firms so 50 viii continue in business le ey can cio no so with safety L I I on Ol page lage 4 STOCK EXCHANGE lEAD SAYS WAR HELPED FINANCE Continued 1 from i p page pae ge 1 to the he public and their fellow mem- mem uel 1 i do 10 not think the time will wiil willever ever come when s on the e exchange ex- ex change will be entirely impossible but the use of the questionnaire Is Isa Isa isa a step In the direction of minimizing ing such failures Heber Hebor C. C Hicks secretary of the state securities securities' commission acted as toastmaster at nt the luncheon Mr Simmons was presented with witha a gavel made of copper mined mInd d f jm the Bingham mines mineS' which he visited Sunday Malcolm A. A Keyser eyser presIdent president president pres pres- ident of the chamber of or commerce made the tile presentation Sunday night a group of ot local business business busi busi- ness antI and professional men acted as hosts to the visiting financiers at ata ata I a a. served at the Hotel Utah Aft After I attending the organ oran recital Tuesday noon at the Tabernacle Atm Mr Simmons' Simmons party will leave for forthe forthe forthe the east cast 4 |