The work of the Stock Exchange

Bibliographic data

Monograph

Identifikator:: 1831284952

URN:: urn:nbn:de:zbw-retromon-225876

Document type:: Monograph

Author:: Meeker, James Edward http://d-nb.info/gnd/126597340

Title:: The work of the Stock Exchange

Edition:: Revised edition

Place of publication:: New York

Publisher:: The Ronald Press Company

Year of publication:: [1930]

Scope:: XVI, 720 Seiten; Illustrationen, Diagramme

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Document type:: Monograph

Structure type:: Contents

Collection:: Economics Books

CONTENTS CHAPTER T d AGE Tue EVOLUTION OF SECURITIES - - The two main sources. Need of government financing. Financ- ing with the printing press. Early methods of government bor- rowing. Increasing expensiveness of government. Modern gov- ernment expenditure. Government securities. Evolution of the stock corporation. America’s debt to corporations. Early British companies. Seventeenth century transportation. The rise of large-scale industry. Financing the first railroads. Growth of the “trusts.” Variety of listed securities today. Chief kinds of securities. Bonds. Shares of stock. “Rights.” Preferred stock. “hief forms of securities. Registered securities. Bearer securities. Cuapter II JRGANIZED SECURITY MARKETS AND THEIR EcoNoMIC FUNCTIONS + + » Ce » » 30 Antiquity of markets. The Roman Forum. Marketing in im- perial Rome. Mediaeval markets. Civilizations debt to market places. Evolution of the market place. Prerequisites for the creation of exchanges. The world’s chief organized markets today. Centripetal tendencies of wholesale trade. Economic func- tions of organized securities markets. 1. Increased safety of dealings. 2. Superior marketability. 3. Fairest price-making. Meaning of “free and open market.” 4. Dependable and con- tinuous quotations. 5. Superior collateral value. 6. Increased availability of capital for investment. 7. More intelligent direc- tion of capital. 8. Greater stability of capital. 9. Segregation of the risks of capital. 10. Barometer of business. Social dangars »f organized markets. Future marketing probabilities. The United States and the world’s markets. CaarTEr III Tue Rise oF THE NEw York Stock EXCHANGE. + - - « Earliest New York markets. Origin of the New York securities market. First brokers’ agreement. Original Stock Exchange equipment. Beginnings of railroad development. The Stock Ex- change during the Civil War period. Railroad securities on the Exchange. Expansion of Stock Exchange facilities. Public utility and industrial securities. The role of the European in- vestor. Speculative beginnings of the industrials. Effects of the World War. The panic of 1929. The Stock Exchange building. Machinery of the floor. The new floor and bond room. Re- stricted admittance to the floor. Description of an opening. Brokers and dealers. “Two-dollar” broker. The odd-lot dealer and the floor trader. The specialist. Parts of the Stock Ex- change svstem. Evolution and change.

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