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.

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter III. The rise of the New York stock exchange

Collection:: Economics Books

76 THE WORK OF THE STOCK EXCHANGE were opened which extended its quarters to Exchange Place on New Street. In 1929 the Exchange acquired all the remain- ing buildings southward to Exchange Place. The accompany- ing plan (Figure 3) of the whole block bounded by Wall, Broad, and New Streets and Exchange Place, shows the present ground floor of the Exchange where security trad- ing occurs. The bond market, after a stay in the Wall Street addition during 1922-28, is now housed in the Exchange Place addition ; the rest of the floor is devoted to dealings in shares. In the basement beneath the Exchange trading floor are the offices of the Stock Clearing Corporation and the vaults of the Safe Deposit Company—another Stock Exchange subsidiary company. Above the trading halls are located the Secretary’s Office and other administrative offices of the Exchange, and also its Luncheon Club. Additional space in the Wall Street wing is rented to bankers, brokers, and other tenants. Visitors to the Exchange, when properly introduced, are usually taken into the Broad Street gallery to watch the Ex- change floor in operation. To the right arches open into the Wall Street addition, and on the left lies the way into the bond market. As one surveys the main Board Room from this Broad Street gallery, 12 large stock posts'® range themselves before him on the floor, to which only members and employees of the Exchange are admitted (Plate 5). The market for each of the share issues in which Exchange dealings are per- mitted, is definitely located at some particular post. Fringing the floor are the stalls containing hundreds of telephones, which connect Exchange members on the floor with their offices outside by private wire. From the Wall Street commission houses, in turn, privately leased wires extend like a fan to branch or correspondent offices all over the country. This is the mechanism whereby the purchasing and selling orders of the nation can be swiftly directed into the Exchange floor for prompt execution. = Appendix lle, and Chapter VI, 165

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