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 X. The bond market

Collection:: Economics Books

258 THE WORK OF THE STOCK EXCHANGE Bond Listings.—As of January I, 1930, there were listed upon the New York Stock Exchange® 1,543 separate bond issues possessing an aggregate par or nominal value of $40,058,000,434 and an aggregate market value of $46,892,- 458,780. The following tabulation classifies these totals among their principal subdivisions : BonDp AMOUNTS LISTED (as of January 1st, 1930) Issues = Par Values Market Values U.S. Federal............... 18 $12,008,586,130 $12,362,647,240 U. S. Subdivisional.......... 47 889,323,962 885,266,796 Total U. S. Government. 65 12,987,910,092 13,247,914,036 Foreign National............ Foreign Subdivisional. ...... 106 15,828,871,100 15,151,908,286 97 018,076,848 793,630,187 Total Foreign Govern- ment....... eww Total Government...... U. S. Railways & Equipments U.S. Utilittes. . ......oovenn U. S. Industrial & Misc... ... 203 16,746,947,957 15,945,538,473 268 29,734,858,049 20,193,452 ,50Q 688 10,234,047,261 201 3,457,684,941 220 3,046,639,316 9,559,076,049 3,308 ,602,080 2,814,400,819Q U. S. Cos. Operating Abroad. 273,904,414 Total U. S. Bonds. . ... 29,203,897,398 Total Foreign Bonds... . {7,688,561,382 } BF. hr ToTaL BONDS...... 1,543 40,058.000,434 46.802,458,780 Speculative Aspects of Bonds.—Since bonds constitute an obligation to pay which takes precedence over shares as claims to income and assets, and since the terms of such payment are much more definitely determined with bonds than with shares, there is naturally much less speculation and less active turnover in the bond than in the stock market. For, as we have seen, the less certainty there is concerning values, the more inevitable is speculation as a method of obtaining an estimate of them.’ See Apsal Repos of the President. 1929-30, p. 96.

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