Spokane Stock Exchange
   HOME

TheInfoList



Click Here for Items Related To - Spokane Stock Exchange
OR:
Spokane Stock Exchange on:   [Wikipedia]   [Google]   [Amazon]

The Spokane 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 ...
in the northwest
United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...
, located in
Spokane, Washington Spokane ( ) is the largest city and county seat of Spokane County, Washington, United States. It is in eastern Washington, along the Spokane River, adjacent to the Selkirk Mountains, and west of the Rocky Mountain foothills, south of the Cana ...
. Founded mainly to trade stock of
mining Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an ore body, lode, vein, seam, reef, or placer deposit. The exploitation of these deposits for raw material is based on the economic ...
companies, it began operations in 1897 and closed 94 years later on May 24, 1991.


History


Early years

Founded mainly to trade stock of
mining Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an ore body, lode, vein, seam, reef, or placer deposit. The exploitation of these deposits for raw material is based on the economic ...
companies, it began operations in 1897. Peyton Building was the headquarters of the Spokane Stock Exchange until 1988, when the exchange moved to the Seafirst Financial Center. Trading volume peaked in the early 1980s at $100 million, although by 1985, trading was rarely over $50,000 a day.


Closure

After failed attempts by the board to find an investor or buyer, it closed on May 24, 1991. The exchange closed "because of slumping silver and gold prices and waning investor interest." It was the smallest stock exchange in the United States and the smallest of seven regional "penny stocks" market. At the time of its closure, it had a reputation as a haven for trading speculative
penny stock Penny stocks are common shares of small public companies that trade for less than one dollar per share. The U.S. Securities and Exchange Commission (SEC) uses the term "Penny stock" to refer to a security, a financial instrument which represents a ...
s, almost exclusively in mining metals stocks of the Silver Valley in nearby
north North is one of the four compass points or cardinal directions. It is the opposite of south and is perpendicular to east and west. ''North'' is a noun, adjective, or adverb indicating direction or geography. Etymology The word ''north ...
Idaho Idaho ( ) is a state in the Pacific Northwest region of the Western United States. To the north, it shares a small portion of the Canada–United States border with the province of British Columbia. It borders the states of Montana and Wyomi ...
.


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 exchanges * Seattle Stock Exchange


References


External links

*
New York Times
'
History Link
*http://www.secinfo.com/d2X7h.9d.htm * Buildings and structures in Spokane, Washington Companies based in Spokane, Washington Former stock exchanges in the United States {{stockexchange-stub