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Spokane Stock Exchange

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Spokane Stock Exchange
TypeRegional stock exchange
LocationSpokane, Washington, United States
Founded1897
ClosedMay 24, 1991
No. of listingsPenny stocks (mining companies)

The Spokane Stock Exchange was a regional stock exchange in the northwest United States, located in Spokane, Washington. Founded mainly to trade stock of mining companies, it began operations in 1897 and closed 94 years later on May 24, 1991.[1]

History

Early years

Founded mainly to trade stock of mining companies, it began operations in 1897.[1][2] Peyton Building was the headquarters of the Spokane Stock Exchange.[citation needed] Trading volume peaked in the early 1980s at $100 million, although by 1985, trading was rarely over $50,000 a day.[3]

Closure

After failed attempts by the board to find an investor or buyer, it closed[3] on May 24, 1991.[1] At the time it closed "because of slumping silver and gold prices and waning investor interest," it was the smallest stock exchange in the United States. It was the smallest of seven regional "penny stocks" market.[3] At the time of its closure it had a reputation as a haven for trading speculative penny stocks,[2][4] almost exclusively in mining metals stocks of the Silver Valley in nearby north Idaho.[5][6][7]

See also

References

  1. ^ a b c Caldwell, Bert (May 24, 1991). "Spokane exchange closes". Spokane Chronicle. p. A1.
  2. ^ a b "Spokane Stock Exchange is closed". Ellensburg Daily Record. Associated Press. May 25, 1991. p. 11.
  3. ^ a b c "Spokane Shuts Its Exchange". The New York Times. May 27, 1991. Retrieved July 30, 2017.
  4. ^ Ream, Joel (June 11, 1967). "New silver boom sweeps Spokane Stock Exchange". Spokesman-Review. p. 34.
  5. ^ "Spokane Exchange". Spokane Chronicle. May 23, 1991. p. A17.
  6. ^ Allen, Rob (February 19, 1979). "Region riding on crest of 1979 silver-investing boom". Spokesman-Review. p. 7.
  7. ^ "Smallest stock exchange closes". Toledo Blade. Ohio. May 25, 1991. p. 20.
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