Cleveland Stock Exchange

The Cleveland Stock Exchange was organized in 1899 by Cleveland, Ohio, financiers Herbert Wright, W.H. Lamprecht, and R.H. York, and began operations on April 16, 1900. After the crash of 1929, the market never regained its pre-Depression value, and after fluctuating throughout World War II, it reached a post-crash high in 1946. In the late 1930s the exchange, registered with the Securities and Exchange Commission, sold odd lots and unlisted securities, and permitted incorporatd brokerages to purchase seats which had previously only been sold to individual brokers. The Cleveland Bourse, as it was commonly known, offered stocks and bonds primarily from local corporations engaged in manufacturing, refining and the rubber industry. Many of the men on the Exchange served in World War II, allowing women to assume responsibility as board markers, chief clerk, and traders. After a decline in yearly activity and the improvement of communications technology, the Cleveland Stock Exchange was replaced by the Chicago-based Midwest Stock Exchange on December 1, 1948. Thereafter, trading was moved to the Midwest's main floor in Chicago while a branch office was maintained in Cleveland until 1966.

From the description of Cleveland Stock Exchange records, 1900-1949. (Rhinelander District Library). WorldCat record id: 43351325

The Cleveland Stock Exchange (1900-1949) was organized in 1899 by local financiers Herbert Wright, W.H. Lamprecht, and R.H. York, and commenced operations on April 16, 1900. In terms of number and value of shares sold, the exchange had its greatest year in 1928 and its worst in 1914. Initial membership numbered seventeen and cost $100 per seat. By 1929, membership had increased to forty, and cost $15,000 per seat. The crash of 1929 had an immediate deleterious effect on the exchange, but in 1936 the bourse reached its penultimate post-crash high. The market never regained its pre-Depression value, but after fluctuating through the Second World War, it reached its post-crash high in 1946.

In the late 1930s the exchange, registered with the Securities and Exchange Commission, began sales of odd lots and unlisted securities, and permitted incorporated brokerages to purchase seats which had been previously sold only to individual brokers. The Cleveland Bourse, as it was commonly known, offered stocks and bonds primarily from local corporations engaged in manufacturing, refining and the rubber industry, including Thompson Products, Standard Oil, and Goodyear. Many of the men on the exchange served in World War II, allowing women to assume unprecedented responsibility. Women became board markers, the chief clerk, and, in 1948, there were three women traders. After a decline in yearly activity and the improvement of communication technology, the Cleveland Stock Exchange, like other regional exchanges, was replaced by the Chicago based Midwest Stock Exchange on December 1, 1948. Thereafter, trading was moved to the Midwest's main floor in Chicago while a branch office was maintained in Cleveland until 1966.

From the guide to the Cleveland Stock Exchange Records, 1900-1949, (Western Reserve Historical Society)