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.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XIII. Security delivieries, loans, and transfers

Collection:: Economics Books

SECURITY DELIVERIES, LOANS, AND TRANSFERS 355 of the securities, their price, and their value. This list is not a “contingent credit” list since it is accompanied by the actual securities mentioned upon it, and since the total value of these securities will constitute an “actual” and not simply a “contin- gent” credit to the Day Branch account of the delivering mem- ber when the list and its securities are delivered by him to the Central Delivery Department of the Stock Clearing Corpora- tion. With deliveries between members, a white credit list is used for cleared stocks and specially cleared bonds, a buff list printed in red for bonds regularly cleared, and a buff list printed in green for non-cleared stocks; with deliveries to or from non- members, the credit list is yellow. Armed with this credit list and the appropriate security certificates and charge tickets, the messenger of the delivering firm goes to the Central Delivery Department offices. Its quar- ters are divided into an inner and an outer office; the substan- tial partition of stone and metal work which separates them consists of 10 receiving and 13 delivering windows which resemble tellers’ windows in a bank. When the messenger of a Stock Exchange firm enters the outer office of the Central Delivery Department, he goes to the particular receiving win- dow assigned to his firm according to its clearing house num- ber. To the clerk at this window he delivers his credit list, together with the security certificates and charge tickets per- taining to the security deliveries listed upon it. The clerk checks each entry upon the itemized credit list against its accompanying security certificates and tickets, and if all is in order stamps the third form of the credit list and returns it as a receipt to the delivering member’s messenger. As this third form specifically states, “The above securities have been received and verified as to count but not as to validity, trans- ferability, or deliverability.” Should objection to the securities in these latter particulars sibsequently be raised by the receiving member, however, the latter can make reclamations or adjust- ments with the delivering member until 3 P.M. In any case

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