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

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XVI. The administration of the stock exchange

Collection:: Economics Books

ADMINISTRATION OF THE STOCK EXCHANGE 453 supervision and authority of the Governing Committee or its subcommittees, are in immediate charge of responsible and highly technical operations, down to the army of cleaners and scrubwomen who invade the building after the close of each day’s market, to put the Exchange in condition for the next day’s business. In number, the floor employees of the Ex- change aggregate several hundred persons, and include tube attendants, pages, bond clerks, phone attendants, price-re- porters, and telegraph operators.’* In the Night and Day Branches of the Stock Clearing Corporation a large group of highly trained and efficient clerks and executives carry on the vital work of clearance. Over all a corps of watchmen stand guard day and night. Association of Stock Exchange Firms.—To correct prev- alent misunderstanding and confusion, a word should also be added here concerning the Association of Stock Exchange Firms, which is composed of the partners of Stock Exchange members. While this Association has no official connection with the Stock Exchange, nevertheless it cooperates with the Exchange in many ways to improve conditions and correct defects in the New York securities market. The purpose of this Association is “to promote more friendly relations among its members, and urge the maintenance of high standards and just principles of business.” The cashiers’ section of this Asso- ciation is composed of the cashiers of the various Exchange houses, and serves as a clearing house for the discussion and investigation of the many technical practical problems con- stantly arising in the stock brokerage business. Disputes Regarding Contracts.—With this brief but fairly comprehensive sketch of the organization and methods of Stock Exchange administration, we can pass on to a few of the typical problems which call for solution and settlement by its authorities. And first, something should be said regarding "19 See Chapter III, p. 79

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