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The objectives and functions of the national and local live stock exchanges

The National Live Stock Exchange

Abstract

The National Live Stock Exchange is the national trade association of the old line commission men who serve the live stock producers and feeders of the nation as their sales representatives at our public markets. The National Live Stock Exchange was organized in Chicago in 1885 for the following purposes,as set forth in the rules and by-laws of the organization:

1. The promotion and development of the live stock industry in all its branches.
   
2. The protection of all interests of the patrons of the public markets.
   
3. The advancement of the welfare of its members by closer cooperation and united action.
   

The first live stock exchange in the United States was organized in Cincinnati, Ohio in 1881. Colonel R. H. West, who was a man of high integrity and who had a deep interest in the welfare of the live stock industry was responsible for the organization of the Cincinnati Live Stock Exchange.