Spokane Stock Exchange

{{Infobox exchange

|name = Spokane Stock Exchange

|alt_name =

|logo =

|image = File:Peyton Building.JPG

|type = Regional stock exchange

|city = Spokane, Washington

|country = United States

|coor =

|foundation = 1897

|closed =May 24, 1991

|owner =

|key_people =

|currency =

|commodity =

|listings = Penny stocks (mining companies)

|mcap =

|volume =

|indexes =

|homepage =

|footnotes =

}}

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.

History

=Early years=

Founded mainly to trade stock of mining companies, it began operations in 1897.{{cite news|url=https://news.google.com/newspapers?id=gVlYAAAAIBAJ&sjid=APoDAAAAIBAJ&pg=6018%2C3584733 |newspaper=Spokane Chronicle |last=Caldwell |first=Bert |title=Spokane exchange closes |date=May 24, 1991 |page=A1 }}{{cite news |url=https://news.google.com/newspapers?id=gvJYAAAAIBAJ&sjid=9Y4DAAAAIBAJ&pg=3479%2C2116773 |newspaper=Ellensburg Daily Record |agency=Associated Press |title=Spokane Stock Exchange is closed |date=May 25, 1991 |page=11 }} Peyton Building was the headquarters of the Spokane Stock Exchange until 1988, when the exchange moved to the Seafirst Financial Center.{{cite news |author= |title=Nation's Smallest Stock Exchange Closes After 94 Years |url=https://www.deseret.com/1991/5/29/18923068/nation-s-smallest-stock-exchange-closes-after-94-years |access-date=December 13, 2021 |work=Deseret News |date=May 29, 1991 |language=en}} 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.{{cite news |date= May 27, 1991 |title=Spokane Shuts Its Exchange |url=https://www.nytimes.com/1991/05/27/business/spokane-shuts-its-exchange.html | work=The New York Times |access-date=July 30, 2017}} At the time of its closure, it had a reputation as a haven for trading speculative penny stocks,{{cite news |url=https://news.google.com/newspapers?id=A-xXAAAAIBAJ&sjid=4ugDAAAAIBAJ&pg=4319%2C3927204 |newspaper=Spokesman-Review |last=Ream |first=Joel |title=New silver boom sweeps Spokane Stock Exchange |date=June 11, 1967 |page=34 }} almost exclusively in mining metals stocks of the Silver Valley in nearby north Idaho.{{cite news |url=https://news.google.com/newspapers?id=gFlYAAAAIBAJ&sjid=APoDAAAAIBAJ&pg=2518%2C3426921 |newspaper=Spokane Chronicle |title=Spokane Exchange |date=May 23, 1991 |page=A17}}{{cite news |url=https://news.google.com/newspapers?id=GPZLAAAAIBAJ&sjid=9O0DAAAAIBAJ&pg=3348%2C2156287 |newspaper=Spokesman-Review |last=Allen |first=Rob |title=Region riding on crest of 1979 silver-investing boom |date=February 19, 1979 |page=7 }}{{cite news |url=https://news.google.com/newspapers?id=ukVPAAAAIBAJ&sjid=EAMEAAAAIBAJ&pg=6713%2C7167565 |newspaper=Toledo Blade |location=Ohio |title=Smallest stock exchange closes |date=May 25, 1991 |page=20}}

References

External links

[https://www.nytimes.com/1991/05/27/business/spokane-shuts-its-exchange.html New York Times]
[http://www.historylink.org/essays/output.cfm?file_id=8883 History Link]
http://www.secinfo.com/d2X7h.9d.htm
{{cite journal |title=Optimistic Imagination: The Spokane Stock Exchange |author= John Fahey |journal= Pacific Northwest Quarterly |volume=95 |year=2004 |jstor=40491757 }}

Category:Buildings and structures in Spokane, Washington

Category:Companies based in Spokane, Washington

Category:Former stock exchanges in the United States