THE BOND MARKET 
the day only are labeled “Davy ORrDER” and are white, those 
good for a week “WEEK ORDER” and are blue, those good for 
a month “MoNTH OrbER” and are pink, and those good until 
canceled “G.T.C. OrpER” and are yellow. 
These cards, properly made out by the member's telephone 
clerk, are turned over to the Stock Exchange clerk who man- 
ages the filing case where the particular bond’s bids and offers 
are filed. This clerk inserts the card among other similar cards 
in the drawer devoted to the particular issue. The cards lie 
flat, and their prices can be seen at a glance. The highest bid 
and the lowest offer are placed next each other, with the suc- 
cessively lower bids running away in one direction, and the 
successively higher offers in the other. 
265 
BUY ~ 
— 
MAT 
WEEK 
ORDFR 
— 
Figure 1+ 
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Bond Quotation Card 
J 
The placing of these cards in the “cans” in this market 
does constitute a “floor,” and priority to the broker whose card 
is first to buy or sell each particular bond; the broker must 
stand ready to buy or sell the number of bonds stated on his 
card, and at the stated price. 
The Foreign Bond Market.—Foreign government and 
foreign corporation bond dealings are handled in a third sec- 
tion of the bond trading room. Since some foreign bonds are 
active and others inactive, the arrangements in this foreign