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 XII. Comparison and security clearance

Collection:: Economics Books

336 THE WORK OF THE STOCK EXCHANGE The room is filled with wide tables where the clerical work connected with the clearance is done, and at 7 p.m. the clerks are usually in their places working on the clearance sheets which have already arrived. The whole work must be com- pleted each night, and thus the volume of sales that day, as well as the errors which may have crept into the auditing of them, determines the hour, whether 10 P.M. Or far later into the night, at which the clerks can go home. A corps of special clerks is kept in reserve, to run down and eliminate any errors which may be made in the clearance. Of course, the fact that a final balance is obtained is practically proof that the clearance has been made without error. Separation and Distribution of the Tickets.— The clear- ance sheet of each clearing member, which by 7 p.m. is de- livered by his messenger through one of the windows in the back of the Night Branch office is, as we have seen, accom- panied by a receive or a deliver ticket of another firm for each item on the sheet, the statements of stock balances to receive and deliver, and a check or draft, as the case may require. Clerks at these windows first separate the clearance sheets from the accompanying tickets and credit instruments. The ex- change receive and deliver tickets are distributed in the respec- tive boxes of the firms whence they have originated. For example, Wilkins’ receive ticket for 100 Steel, which comes in attached to Jenkins’ sheet, is detached and placed in Wilkins’ box; and Jenkins’ deliver ticket for the same stock, attached to Wilkins’ sheet, is detached and placed in Jenkins’ box. Next, the stock balance tickets to receive and to deliver which accompany each sheet are checked by a teller against the balance items as they appear on the sheet, and are then turned over to another set of clerks who place each one with the par- ticular allotment sheet (whose function will be considered pres- ently) for the stock in which it is made out. For example, Jenkins & Co.'s two stock balance tickets for the balance of 200 Steel to deliver and the balance of 200 Reading to receive,

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