The work of the Stock Exchange

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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.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter I. The evolution of securities

Collection:: Economics Books

(6 THE WORK OF THE STOCK EXCHANGE the large corporation today, and we cannot now return to the small business organizations of even twenty-five years ago. The securities of our soundest corporations were, of course, highly speculative in the beginning. But the American public, believing in the future of this country, has always been willing to speculate in them. From the financial standpoint, indeed, this speculation is mainly responsible for our amazing growth in the past century—a growth which for swiftness and extent is without parallel in history.® Variety of Listed Securities Today.—The list of stocks which are traded in on the New York Stock Exchange today is a striking illustration both of the vast extent to which mod- arn American business is carried on by stock corporations,” and the importance of our stock markets as distributing centers for their shares and obligations. Apart from the numerous steam railroad and electric traction company stocks, the group loosely designated as “industrials” includes shares in com- panies which operate in finance, retail selling, security-holding, telephones, telegraphs, gas, terminals, electric light and power, coke, rubber goods, tires, magnetos, carburetors, automobiles, fire engines, tractors, motor trucks, auto bodies, auto wheels, radios, airplanes, machine tools, plows, cane and beet sugar, cotton oil, ice, fisheries, fruits, candy, corn products, tea, biscuits, meats, and refrigerating service. Other listed stocks represent companies interested in steel, iron, fertilizers, drugs, chemicals, harvesters and all kinds of agricultural machinery and implements, cans, brake shoes, locomotives, steel springs, steel cars, pneumatic tools, fuels, scales, tankers, air brakes, elevators, cast iron pipe, enameled goods, the production, refining, and distribution of petroleum, zinc, lead, copper, silver, gold, coal, metal smelting and refin- ing, shipping, foreign trading and foreign securities, land development, snuff, cigars, cigar stores, tobacco and its various products, temperance drinks, woolens, dry goods, linen collars, © £See Chapter V.

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