▁afternoon ▁for ▁the ▁purpose ▁of ▁considering ▁the ▁subject ▁of ▁am ending ▁the ▁constitution ▁of ▁that ▁Exchange ▁so ▁as ▁to ▁permit ▁the ▁members ▁to ▁trade ▁in ▁stock s , ▁b onds , ▁and ▁other ▁se cur ities ." ▁On ▁September ▁ 2 4 , ▁ 1 8 8 4 , ▁the ▁G over ning ▁Committee ▁of ▁the ▁New ▁York ▁Stock ▁Exchange ▁( N Y SE ) ▁sent ▁not ices ▁to ▁Stock ▁Exchange ▁members ▁who ▁were ▁also ▁New - Y ork ▁Pet role um ▁Exchange ▁and ▁Stock ▁Board ▁members , ▁stating ▁that ▁according ▁to ▁Stock ▁Exchange ▁rules , ▁membership ▁could ▁not ▁be ▁retained ▁in ▁both . ▁At ▁a ▁meeting ▁held ▁on ▁December ▁ 1 0 , ▁ 1 8 8 4 , ▁the ▁New - Y ork ▁Pet role um ▁Exchange ▁and ▁Stock ▁Board ▁am ended ▁its ▁constitution . ▁The ▁am end ment ▁limited ▁membership ▁to ▁ 2 , 0 0 0 , ▁with ▁members ▁above ▁an ▁initial ▁ 1 , 7 0 0 ▁required ▁to ▁pay ▁a ▁$ 2 , 0 0 0 ▁init iation ▁fee . ▁In ▁late ▁December ▁ 1 8 8 4 , ▁the ▁president ▁of ▁the ▁New - Y ork ▁Pet role um ▁Exchange ▁and ▁Stock ▁Board ▁L . ▁H . ▁Smith ▁issued ▁key ▁facts . ▁Among ▁them , ▁membership ▁was ▁listed ▁at ▁ 1 , 0 0 4 ▁at ▁the ▁time , ▁with ▁plans ▁to ▁increase ▁the ▁building ▁fund ▁to ▁potentially ▁build ▁a ▁building ▁to ▁accommod ate ▁the ▁exchange . ▁For ▁ 1 8 8 4 , ▁the ▁exchange