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 169 printed on the tape in lower New York. Two separate ticker systems are maintained—one for bonds and one for stocks. With the former, there is only one sending instrument. But owing to the greater activity in shares, there are several such instruments for them. An ingenious electrical device coordi- nates the flow of their several electrical impulses into the print. ing of the single stock tape. The ticker machines operated from the floor in this way are hose of the New York Quotation Company, and their distribu- tion is confined to Manhattan Island below Chambers Street. But from one of these tickers in the office of the Western Union Telegraph Co. in this district, an operator of the latter company reads the quotations as they appear, and transmits them to its tickers located all over the nation 18 Reading the Stock Ticker.—Ever since 1920, successive changes in the ticker quotation system have been effected in an endeavor to avoid delays in reporting the increasing volume of transactions. Every listed stock issue is known on the tape by a certain letter or letters. U. S. Steel common, for example, is “X”; Pennsylvania Railroad stock is “PA,” etc. These abbrevia- tions give rise to much Wall Street “slang.” Southern Pacific common (now “SX” but formerly “SP”) used to be called “Soup” for short; Missouri, Kansas & Texas Railway common (“KT”) is called “Katy,” etc. After the symbol for the stock is printed, there next appears the amount of it which has been sold. The sales-unit on the Exchange being 100 for shares, a sale of this amount is under- stood without being specially indicated, while a sale of 200 shares appears as “2.”—of 300 shares “3.,”” etc. Finally the price itself appears. Until the heavy markets of 1928, prices were reported in full. But in that year, to further economize time, only the last digit (plus fractions) of the price was printed, it being presupposed that the reader of the tape would "1s Appendix VId.

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