Intermountain Stock Exchange ("ISE") (formerly the Salt Lake Stock Exchange) is a defunct stock exchange that formerly operated in Salt Lake City, Utah. Named the Salt Lake Stock and Mining Exchange from its 1888 founding until 1972, the company was acquired by Commodity Exchange, Inc. (COMEX) in 1986, ceased operating and became dormant.
| Salt Lake Stock Exchange | |
| Type | Regional stock exchange |
|---|---|
| Location | Salt Lake City, Utah, United States |
| Founded | 1888 |
| Closed | 1972 |
History
editThe company was organized in 1888, and incorporated in 1899 as the Salt Lake Stock and Mining Exchange to provide capital for the area's mines. The property for the Exchange building at 39 Exchange Place in Salt Lake City was donated in 1908 by Utah mining magnate Samuel Newhouse.[1][2] In 1900, future Salt Lake City mayor John S. Bransford was elected the president of the Salt Lake Stock and Mining Exchange.[3] The Exchange had its largest trading volumes during the 1920s, and particularly during the uranium boom of the 1950s.[4][5] The companies listed on the Exchange tended to be speculative oil and mining penny stocks.[6]
The Exchange changed its name to Intermountain Stock Exchange in May 1972 to reflect a larger geographic area. At that time it was the second smallest exchange in the United States, next to the Spokane Stock Exchange. Despite renewed optimism by management,[7][8] trading volumes continued to dwindle until the Exchange was acquired in 1986 and all ISE-listed securities were delisted.[9][10] The company was acquired by Commodity Exchange, Inc. (COMEX) in 1986, ceased operating and became dormant.
See also
edit
References
edit- ^ Salt Lake Stock and Mining Exchange Building - National Park Service - National Register of Historic Places[1]
- ^ Chris Dunsmore. "Mapping Salt Lake City | Stories, Memories & History - Salt Lake Stock and Mining Exchange". Mappingslc.org. Retrieved 2017-06-16.
- ^ Fohlin, Ernest Victor. Salt Lake City, Past and Present: A Narrative of Its History and Romance, Its People and Culture, Its Industry and Commerce Library of Congress. 1908.[2]
- ^ "ATOM STOCK BOOM NOW 'STABILIZED'; Demand for Uranium Issues Is Still Large, but Hysteria of a Year Ago is Absent". The New York Times. 1955-06-21. Retrieved 2017-06-16.
- ^ Uranium Makes A Wilder West LIFE. 1954-07-19. p. 12. Retrieved 2017-06-16.
- ^ Penny Stocks Boom Again New York Times May 9, 1971[3]
- ^ Intermountain Exchange Widening Sights New York Times November 7, 1972[4]
- ^ Intermountain Stock Exchange Alive, Well "Desert Sun 13 July 1973 — California Digital Newspaper Collection". Cdnc.ucr.edu. 1973-07-13. Retrieved 2017-06-16.
- ^ "How To Take Stock Of The Market Keeping Tabs On Ups And Down Requires A Sharp Eye - tribunedigital-orlandosentinel". Articles.orlandosentinel.com. 1987-11-18. Retrieved 2017-06-16.
- ^ "Federal Register: 52 Fed. Reg. 17283 (May 7, 1987)" (PDF). Cdn.loc.gov. Retrieved 2017-06-16.
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