The Los Angeles Oil 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 ...
in
Los Angeles, California
Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the largest city in the state of California and the second most populous city in the United States after New York City, as well as one of the world' ...
. Founded in 1899, in 1900 the name was changed to the Los Angeles Stock Exchange. In 1956, it merged into the
Pacific Coast Stock Exchange
The Pacific Exchange was a regional stock exchange in California, from 1956 to 2006. Its main exchange floor and building were in San Francisco, California, with a branch building in Los Angeles, California.
In 1882, the San Francisco Stock an ...
.
History
The Los Angeles Oil Exchange was organized in 1899 by a group of oil company owners, including
Wallace Hardison. The Exchange’s first trading session was on February 1, 1900. In December 1900 the name was changed to the Los Angeles Stock Exchange. The Exchange absorbed the
California Oil Exchange in September 1900 and the
Los Angeles Nevada Mining Exchange in September 1909.
[
During the early development of the ]Los Angeles City Oil Field
The Los Angeles City Oil Field is a large oil field north of Downtown Los Angeles. Long and narrow, it extends from immediately south of Dodger Stadium west to Vermont Avenue, encompassing an area of about four miles (6 km) long by a quarter ...
, no single firm had a dominant share. Drillers started their own companies, flooding the local stock exchange with shares of start-up oil firms. There were so many of these that the Los Angeles Stock Exchange had to open a separate facility just to deal with oil stocks.[Crowder, R.E. ''Los Angeles City Oil Field: California Division of Oil and Gas, Summary of Operations''. 1961. Vol. 47 No. 1, p. 69]
The Exchange changed locations frequently in its early years, until finally locating to 618 South Spring Street in downtown Los Angeles in 1931 in the Los Angeles Stock Exchange Building
The historic Los Angeles Stock Exchange Building, also called the Pacific Stock Exchange Building, is located in the Spring Street Financial District within the Historic Core in Los Angeles. It was the headquarters of the Los Angeles Stock Exchang ...
, remaining there until February 1986. Needing more space, the trading floor was moved to the Pacific Stock Exchange
The Pacific Exchange was a regional stock exchange in California, from 1956 to 2006. Its main exchange floor and building were in San Francisco, California, with a branch building in Los Angeles, California.
In 1882, the San Francisco Stock an ...
building at 233 South Beaudry Avenue, but it was closed in May 2001.Big Orange Landmarks - Los Angeles Stock Exchange Building
/ref>[The Los Angeles Stock Exchange - A Brief Historical Review ''Mining and Oil Bulletin'' November 1919]
/ref>
In 1956, the San Francisco Stock and Bond Exchange and the Los Angeles Oil Exchange merged to create the Pacific Coast Stock Exchange
The Pacific Exchange was a regional stock exchange in California, from 1956 to 2006. Its main exchange floor and building were in San Francisco, California, with a branch building in Los Angeles, California.
In 1882, the San Francisco Stock an ...
, with trading floors in both cities.
See also
*List of former stock exchanges in the Americas
This is a list of former stock exchanges in the Americas, including North America, South America, and the Caribbean Islands. Year of formation and the year the exchange was acquired, liquidated, or folded are also included. Some of these exchanges ...
*List of stock exchange mergers in the Americas
This is a list of major stock exchange mergers and acquisitions in the Americas. It also features the name of any resultant stock exchanges from mergers or acquisitions. According to Robert E. Wright of '' Bloomberg'' in 2013, historians assert t ...
*
References
{{reflist
Former stock exchanges in the United States
Economy of Los Angeles
Stock exchange buildings