The Spokane Stock Exchange was a
regional stock exchange in the
northwest
The points of the compass are a set of horizontal, radially arrayed compass directions (or azimuths) used in navigation and cartography. A compass rose is primarily composed of four cardinal directions—north, east, south, and west—each sep ...
United States, located in
Spokane, Washington. Founded mainly to trade
stock
In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...
of
mining companies, it began operations in 1897 and closed 94 years later on May 24, 1991.
[
]
History
Early years
Founded mainly to trade stock
In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...
of mining 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 stocks, almost exclusively in mining metals stocks of the Silver Valley in nearby north Idaho.
See also
* List of former stock exchanges in the Americas
* List of stock exchanges
This is a list of major stock exchanges. Those futures exchanges that also offer trading in securities besides trading in futures contracts are listed both here and in the list of futures exchanges.
There are sixteen stock exchanges in the world ...
* 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