New Orleans Stock Exchange

The New Orleans Stock Exchange, or the New-Orleans Stock Exchange, was a regional stock exchange based in New Orleans, Louisiana. As early as 1880, the exchange's sales of stock reached a reported total of $7,891,300. The exchange moved into a new building in 1906, described as the most expensive and artistic structure of its size in the city. At the time, membership was limited to seventy members, with 61 "visiting members." In 1959, the exchange board voted to merge with the Midwest Stock Exchange in Chicago. In 1880, the exchange's sales of stock reached a reported total of$7,891,300, with 52,609 shares being exchanged. In 1887, the exchange extended its hours to 4 pm due to increased trading volumes. In September 1889, the exchange was reported "paralyzed" after developments in a State bond swindle, with the New York Times reporting that "transactions in [Louisiana] State and city Government securities are at a standstill." As of 1894, Captain William Huger of New Orleans was president of the New-Orleans Stock Exchange. The New Orleans Stock Exchange moved into a new building in 1906, described as the most expensive and artistic structure of its size in the city, and build of marble and mahogany. At the time, the value of the exchange's membership share had grown from an initial $100 to over$6,000, with membership limited to seventy members. In 1906, there were also provisions for "visiting members," with 61 at the time. On December 14, 1907, a special meeting of the exchange held a unanimous vote to re-open for general business on January 15, 1908. The exchange continued to trade in bonds during the interim, but not stocks. In August 1914, the New Orleans exchange closed for stock trading due to the outbreak of World War I. The former president of the exchange, Eugene Chassanoil, reportedly shot and killed himself at the exchange on August 14, 1914. The Times reported that the 67-year old had been in ill-health for some time. As of April 1927, Cartwright Eustis served as president of the New Orleans Stock Exchange.