The Washington Stock Exchange was a

regional stock exchange A regional stock exchange is a term used in the United States to describe stock exchanges that operate outside of the country's main financial center in New York City. A regional stock exchange operates in the trading of listed and over-the-count ...

based in

Washington, D.C. ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, ...

Active as early as the 1880s, on July 21, 1953, members of the Washington Stock Exchange board unanimously voted to merge with the

Philadelphia-Baltimore Stock Exchange Philadelphia Stock Exchange (PHLX), now known as Nasdaq PHLX, is the first stock exchange established in the United States and the oldest stock exchange in the nation. The exchange is owned by Nasdaq, which acquired it in 2007 for $652 million, a ...

. The merge occurred in 1954, creating the

Philadelphia-Baltimore-Washington Stock Exchange Philadelphia Stock Exchange (PHLX), now known as Nasdaq PHLX, is the first stock exchange established in the United States and the oldest stock exchange in the nation. The exchange is owned by Nasdaq, which acquired it in 2007 for $652 million, a ...

History

The exchange was active in

as of October 24, 1884. It was a tenant of the Washington Building at 15th and New York NW. On July 31, 1914, after the closing of the

NYSE The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is by far the List of stock exchanges, world's largest s ...

, the Washington Stock Exchange, "which deals mainly in local securities, followed the example of similar bodies in other cities and suspended business for the day." During a financial crisis, on August 5, 1914, the ''New York Times'' reported that the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...

and all regional exchanges had voted to close, including Washington, D.C., the Baltimore Stock Exchange, the

Boston Stock Exchange The Boston Stock Exchange (now NASDAQ BX, formerly ''BSE'') is a regional stock exchange located in Boston, Massachusetts. It was founded in 1834, making it the third-oldest stock exchange in the United States. On October 2, 2007, NASDAQ agreed ...

, the

Philadelphia Stock Exchange Philadelphia Stock Exchange (PHLX), now known as Nasdaq PHLX, is the first stock exchange established in the United States and the oldest stock exchange in the nation. The exchange is owned by Nasdaq, which acquired it in 2007 for $652 million, a ...

, the Pittsburgh Stock Exchange, and others for

Detroit Detroit ( , ; , ) is the largest city in the U.S. state of Michigan. It is also the largest U.S. city on the United States–Canada border, and the seat of government of Wayne County. The City of Detroit had a population of 639,111 at th ...

St. Louis St. Louis () is the second-largest city in Missouri, United States. It sits near the confluence of the Mississippi and the Missouri Rivers. In 2020, the city proper had a population of 301,578, while the bi-state metropolitan area, which e ...

Chicago (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...

Cincinnati Cincinnati ( ) is a city in the U.S. state of Ohio and the county seat of Hamilton County. Settled in 1788, the city is located at the northern side of the confluence of the Licking and Ohio rivers, the latter of which marks the state line wit ...

Columbus Columbus is a Latinized version of the Italian surname "''Colombo''". It most commonly refers to: * Christopher Columbus (1451-1506), the Italian explorer * Columbus, Ohio, capital of the U.S. state of Ohio Columbus may also refer to: Places ...

, and

San Francisco San Francisco (; Spanish language, Spanish for "Francis of Assisi, Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the List of Ca ...

. On July 21, 1953, members of the Washington Stock Exchange board unanimously voted to merge with the

. The merger plan had been in negotiations at that point for 22 months under Washington exchange president Fenton Cramer. Cramer asserted that under the agreement, the Washington exchange would become a branch of the other exchange, with little change in actual trading activities expected. He described a major advantage of the merger as the establishment of a modern clearing house for security. The Philadelphia-Baltimore Stock Exchange merged with the Washington Stock Exchange in 1954, creating the

Executives

Lewis Johnson Davis, who died September 6, 1906, was earlier a president of the Washington Stock Exchange. In late November 1901, W. A. Mearns was elected president of the Washington Stock Exchange. As of March 1910, William B. Hibbs, "one of the wealthiest men in Washington," was president of the Washington Stock Exchange. Charles C. Glover (1846-1936) was for a time president of the exchange. George M. Ferris (died 1992) was a former president and chairman of the Washington Stock Exchange.George M. Ferris, 99, Ex-Investment Banker
''

The New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid ...

'', November 01, 1992 By July 21, 1953, Fenton Cramer was president.

References

Former stock exchanges in the United States Economy of Washington, D.C. 1954 disestablishments in the United States {{stockexchange-stub

History

Executives

See also

References