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 XVI. The administration of the stock exchange

Collection:: Economics Books

446 THE WORK OF THE STOCK EXCHANGE tary. The Accountant and the Economist perform such work as the Governing Committee may prescribe, the duties of the former pertaining primarily to the accounts of the Exchange and of its members, and of the latter to statistical and research work in connection with advising the Exchange in matters of zconomic policy. The President and Treasurer are elected annually by the entire Exchange membership; the Vice-Presi- dent is chosen annually by the Governing Committee from its own members; the Assistant to the President, Secretary, First Assistant Secretary, Accountant and Economist are appointed Hy the Governing Committee. The governors of the Stock Exchange are heirs to a long and honorable tradition, and to be elected a governor is con- sidered a high honor. The ability and conscientiousness which they lend to their responsible tasks are proverbial in Wall Street and out of it. Sheerly out of a sense of duty and loyalty to the Exchange and the public whom the Exchange serves, these forty carefully selected and experienced members, whose time and ability possess a constant cash value and are constantly de- manded by their own interests and by other business enter- prises, willingly give no small amount of service gratis to the Stock Exchange each year. Powers of the Governors.—In the hands of its Governing Committee is invested the geal power of the Stock Exchange organization. Its power to discipline members of the Ex- change is practically absolute, owing to two fundamental pro- visions of the Constitution. The first of these’ (italics are the author’s) reads as follows: A member who shall have been adjudged by a majority vote of all the existing members of the Governing Committee guilty of a violation of the Constitution of the Exchange, or guilty of the viola- tion of a rule adopted pursuant to the Constitution, or guilty of the violation of a resolution of the Governing Committee regulating the conduct or business of members, or guilty of conduct or proceeding inconsistent with just and equitable principles of trade, may be sus- 1 Constitution, Article XVII, Sec. 7.

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