Spokane Stock Exchange
| Company type | Regional stock exchange |
|---|---|
| Industry | Financial services |
| Founded | 1897 |
| Defunct | May 24, 1991 |
| Headquarters | Spokane, Washington , United States |
| Products | Trading of mining company stocks |
The Spokane Stock Exchange functioned as a regional stock exchange located in Spokane, Washington, within the northwestern region of the United States. Primarily created to facilitate the trading of mining company stock, it operated from its inception in 1897 until it ceased activities on May 24, 1991.
Early years
The exchange was initiated in 1897 with the purpose of enabling transactions in mining-related stocks. Its initial headquarters were housed in the Peyton Building until 1988, after which it moved to the Seafirst Financial Center. Trading reached its highest point during the early 1980s, with volumes around $100 million; however, by 1985, daily trading amounts had dropped sharply, seldom surpassing $50,000.
Closure
The exchange was closed on May 24, 1991, after the board's attempts to find an investor or purchaser proved unsuccessful. The closure was largely due to falling prices of silver and gold and diminished enthusiasm among investors. As the smallest stock exchange in the United States and one of seven regional markets specializing in penny stocks, it was recognized for its speculative trading focus on mining metal stocks, particularly those from the nearby Silver Valley area in northern Idaho.