Heim v. New York Stock Exchange

The Hew York Stock Exchange is a voluntary association limited to eleven hundred members, furnishing facilities for the transaction of the business of buying and selling stocks and bonds for others on commission. The exchange as such does no business, although its governing committee of forty can regulate the conduct of the members, under the constitution and resolutions.

One of the resolutions adopted May 19, 1909, was as follows:

" Resolved, That any member of this Exchange who transacts any business, directly or indirectly, with or for any member of the Consolidated Stock Exchange, who is *530eng…