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.

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Document type:: Monograph

Structure type:: Chapter

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

Collection:: Economics Books

SECURITY DELIVERIES, LOANS, AND TRANSFERS 357 senger takes away to the receiving firm's offices as memoranda for its files. The second forms of each charge ticket, signed by the receiving member's messenger, are retained by the Cen- tral Delivery Department as receipts for the deliveries it has made to the receiver’s messenger. The first forms of each charge ticket, marked “Charge to the Account of the Deliver- ing Member,” are sent to the cage of the Day Branch where the account of the receiving member is kept, and the value of each security delivery made in this way is there entered as a debit item on the receiving member’s account.® Thus, each trip of a messenger to the Central Delivery Department effects deliveries to many different firms, establishes credits therefor in his firm’s account, receives securities from many different firms, and establishes debits therefor on his firm’s account. Scope of Central Delivery Department Operations.— The practice of centralized deliveries was inaugurated at first with only a few cleared stocks, with the aim of testing the system before extending it to other securities. At this writing, the system handles deliveries for all listed stocks and for cleared, but not for non-cleared, bonds. Security deliveries which are not handled through the Central Delivery Department are made as formerly direct to the receiving member’s office, and the “deliver tickets” signed there will be sent to the Receiving Ticket Department of the Day Branch. It will also be noted that the Central Delivery Department does not assume responsibility for the condition and deliver- ability of the securities delivered through it, by receiving them directly in the name of the Stock Clearing Corporation. It acts only as agent for its members, and while it counts the securities passing through it, if any question arises of improper deliverability (as for example, stock in a corporation name or marfied woman’s name without adequate documents attached), it declares the delivery “ex-Clearing House” and leaves the * See Chapter XIV, p. 392.

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