The work of the Stock Exchange

Bibliographic data

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 VI. A typical investment transaction

Collection:: Economics Books

A TYPICAL INVESTMENT TRANSACTION 161 the business of this order clerk to record and supervise the transmission of orders to the main office of Jenkins & Co. in New York, over the company’s private telegraph wire.* In the present instance, he sends Mr. Jones’s order to the wire room, where the wire operator tele- graphs the order over the firm's private wire to its New York office. The moment Jones hands his order slip to the customer’s man, he thus sets in motion the whole machinery of the Stock Exchange for executing orders and for the clearance and delivery of stock—a machinery concern- ing the complexity of which Mr. Jones has probably only a vague 10t10n. In the Wall Street Office.—\Vhile Jones lingers in the Baltimore brokerage office to watch for the record of his sale on the tape, the scene shifts to New York. In the main office of Jenkins & Co. at 500 Wall Street, a wire operator sits wait- ing for just such out-of-town orders as Jones's to come in over the firm’s private long-distance wires. He receives the mes- sage from Baltimore to “sell 100 Steel at 150,” and turns it over to the order clerk, who makes a record of it for filing purposes and transmits the order at once to the Exchange floor over the private telephone maintained by Jenkins & Co. for this very purpose. The telephone of Jenkins & Co. is situated in one of the many telephone booths which fringe the Stock Ex- change floor.® (Plate 6.) The firm’s telephone clerk immedi- ately takes down the order on a specially prepared selling slip (Figure 8), containing Jenkins & Co.’s name and a letter and number which indicate the location of their floor telephone. 4 See Chapter XV, p. 436. 5 See Appendix IIIh.

Access restriction

Copyright

fullscreen: The work of the Stock Exchange

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation