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 XV. The commission house

Collection:: Economics Books

412 THE WORK OF THE STOCK EXCHANGE way of saying “Mexican Petroleum.” But in time he too will learn to refer to the Atchison, Topeka & Santa Fe Railway (A) inelegantly but concisely as “Atch,” or the Missouri, Kan- sas & Texas Railroad (KT) as “Katy.” This queer and some- times fantastic slang used in brokerage circles undoubtedly saves valuable time, and is convenient, practical, and simple enough—once it is understood. Departments of the Commission House.—Facing the stock board are several rows of armchairs where the customers of the firm can sit and watch the fluctuations in prices shown on the board. Close at hand to the customers’ chairs is the order department, which handles the execution of such orders as the customers in the office may tender it, and such tele- phoned, telegraphed, or written orders as come in to the firm. Nearby is the cashier’s cage, in many ways the real executive center of the office. * In adjoining rooms are the private offices of the firm partners, the accounting department where the firm’s bookkeepers work, and perhaps an unlisted department, which handles orders for securities not listed upon the Stock Exchange, and which usually consists of a desk, a telephone, a few financial manuals, and one of the quickest and most incisive brains in the office. In addition, there is the statistical department, which often carries on general financial educational and publicity work, pre- pares special reports for the firm or its customers on various financial topics, issues circulars and market letters, and per- forms a variety of other practical and necessary routine work for the firm. "The educational work done by Stock Exchange brokerage offices all over the country is valuable from a na- tional standpoint, since it acquaints the public with current economic problems and makes available everywhere informa- tion regarding investments—a significant service when the ignorance of many investors and the persistence of clever and daring stock swindlers are remembered.

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