The work of the Stock Exchange

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Multivolume work

Identifikator:: 1896933912

Document type:: Multivolume work

Author:: Keith, Arthur Berriedale http://d-nb.info/gnd/119086794

Title:: Responsible government in the Dominions

Place of publication:: Oxford

Publisher:: Clarendon Press

Year of publication:: 1912-

Collection:: Economics Books

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Volume

Identifikator:: 1896935052

URN:: urn:nbn:de:zbw-retromon-238139

Document type:: Volume

Author:: Keith, Arthur Berriedale http://d-nb.info/gnd/119086794

Title:: Responsible government in the Dominions

Volume count:: Vol. 2

Place of publication:: Oxford

Publisher:: Clarendon Pr.

Year of publication:: 1912

Scope:: XI Seiten, Seiten 570-1100

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Multivolume work

Structure type:: Chapter

Title:: Chapter VIII. The constitutional relations of the houses

Collection:: Economics Books

216 THE WORK OF THE STOCK EXCHANGE moment of activity, especially at the opening at 10 A.M., the crowd may number 40 or more. The specialist is receiving new orders and canceling old ones (Figure 13), quoting ‘bids and offers and effecting sales, making out binding reports, constantly revising the orders in- scribed in his book, and perhaps attempting to deal on his own account, in competition with the lightning-like floor traders. The specialist must not only watch the market, and everyone in the crowd likely to do business in it, but he must also, as a broker, represent both buyers and sellers at once, and favor neither unduly. Meanwhile, since he is often the core of the market himself, everyone is watching him intently, ready to cry “Sold” to his bids or “Take them” to his offers. As a prominent specialist'® once stated: ee You must remember that the specialist is not over in a closet or up on a pillar where nobody cag see what he is doing, but is standing down on the floor; and in an active market, 20, 30, or 40 men see him; they see him get the orders and see him execute these orders, so that there is almost. vou might sav, a check-up on him. everv single minute. “Stopping Stock.”—The practice of ‘stopping stock,” which is employed by brokers on the floor, should also be men- tioned in especial connection with the specialist, since the re- sponsibility for the occasional misunderstandings to which it gives rise are so often placed at his door.*® This class of orders must not be confused with stop-loss orders. Er Address (of, Eyastus T. Tefit before the Convention of OutofTown Stock 1B See Appendix VIIIE.

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