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.

Document type:: Monograph

Structure type:: Contents

Collection:: Economics Books

1 CONTENTS Pace sale of an odd-lot. Work of the transfer office. Deliveries, commissions, and profits. Determining the price. Transactions made at bid and offer prices. “Quarter stocks.” Odd-lot trans- actions “at the opening.” Limited orders in odd-lots. Mechan- ical limitations of the ticker service. Misunderstandings regard- ing “bunched sales.” Adjustment of errors in odd-lots. Risks of loss to the odd-lot dealer. Expenses of the odd-lot business. Economic significance of the odd-lot business. The odd-lot dealer as a factor in distribution. Odd-lot purchases in declining or rising markets. CuaprTEr X Tue BoND MARKET . . . bow Classes of bonds. Form of bonds. Bond listings. Speculative aspects of bonds. The New York bond market. Evolution of the Stock Exchange bond market. The active bond market. The inactive bond market. The foreign bond market. Reporting sys- tem for bond prices. Composition of the bond crowd. Execution of bond orders. Delayed deliveries of bonds. Economic func- tions of the bond market. 2585 CuAPTER XI Tue Security COLLATERAL LoaAN MARKET. . . . . . . . 275 Evolution of the market. The Federal Reserve system. War time regulation of security loans. The time loan. The call or demand loan. The demand for security collateral loans. The supply of call money. The New York security loan market. Changeability of supply and demand. The “money desk.” Loan agreements. Settlement of loan contracts. Diversification of security collateral. Protection of lenders. Acceptance of col- lateral. The termination of call loans. Renewal of call loans. Are call loans safe? Are call loans legitimate? Preference for commercial loans. Services of the call loan market in the 1919-21 crisis. The size of security loans outstanding. “Brokers’ ‘oans,” 1026-29, Term settlements, Rediscounting security loans. Cuapter XII COMPARISON AND SECURITY CLEARANCE: + + + » » + = « + 3II Only negotiation of contracts on the Exchange. Stages of the security clearing and settling process. The pre-Stock Clearing Corporation days. Establishment of the Stock Clearing Corpora- tion. The Night and Day Branches. Scope of the Night Branch security clearance. Comparisons. Exchange tickets. ‘Three-way exchange tickets.” “Four-way deferred delivery bond contract tickets.” The distributing department of the Night Branch. Con- clusion of the process of comparison. Theory of security clear- ance. Employment of settlement or delivery prices. Preparing for the night clearance. A typical day’s business. The clearance sheet in detail. Stock balances “to receive” and “to deliver.” The cash extensions. Inclusion of loaned and borrowed stocks. Economies obtained by the system. Delivery of the clearance

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