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 XIII. Security delivieries, loans, and transfers

Collection:: Economics Books

364 THE WORK OF THE STOCK EXCHANGE cipal and interest of the loan in the manner described in the present and an earlier chapter.™ When a clearing member pays off a loan through the Stock Clearing Corporation, the borrower first fills out a quadrupli- cate return loan agreement in his office. This brown form (Figure 37) contains the borrower’s clearing number, the names of the borrower and lender, the amount of the principal and interest of the loan, as well as an itemized list of the securi- ties pledged as collateral for the loan and held in the envelope by the lender, together with the number of shares, the price, 2G : : : L 7 4 tied Snes x L Hut o Stock] Smart New 00 YEN ) ’ alot > fiieed Teatiomar i5r tnt rpg — = Dttlns Stock Clearing Corporation Into itn, Ro lLoA. ‘4 LM HT SE tational [Ban Figure 38. Stock Clearing Corporation Check for Pay-Off Loan and the value of each. The borrower signs the three forms of this agreement with a signature recognized by the Stock Clear- ing Corporation, for although the form is in quadruplicate, only three forms are used in paying off loans. At the same time the borrower fills out a credit memorandum (Figure 38) form which he signs on the left edge, making payable to the lender the amount of the principal and interest of the loan in question. The form, of course, possesses no value as a check until it is signed by an official of the Stock Clearing Corpora- tion, and until the latter designates one of its depository banks to which the lender should present it for payment. At first, therefore, the borrower fills out all but the bottom line of the form, where space is left for these two important items to be filled in later. TT 10 Qee Chapter XI. p. 295.

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