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 XVII. The stock exchange and American business

Collection:: Economics Books

STOCK EXCHANGE AND AMERICAN BUSINESS 479 tutional investors in this country and are an important factor in the Stock Exchange bond market. So it is, too, with the insurance companies, whose enormous assets are largely invested in Stock Exchange securities. The economic importance of insurance to the country today as a stabilizer of the risks of death and disaster to property is gen- erally realized, yet the assistance which the Stock Exchange gives to this beneficial business is often forgotten. The ability of the insurance companies to pay their policyholders promptly largely depends upon the ability of the Stock Exchange to render its listed securities speedily negotiable. The San Francisco Earthquake.—A striking instance of this fact was afforded in the great San Francisco earthquake. At that time the ease and readiness with which the insurance companies indemnified their policyholders caused very general and flattering comment. Yet the fact that the companies were able to get cash mainly by liquidating securities in the Stock Exchange, and that no small part of the economic burden im- posed by the great catastrophe consequently fell on the organ- ized securities market in New York, is not so often remem- bered. Many men and many companies carry insurance, not only as a protection, but as an investment, and in large meas- ure they unconsciously depend upon the steadiness and liquidity which the Stock Exchange imparts to its listed securities. Importance of Agriculture to the United States.—Com- ing now to the different American occupational classes for whom the Stock Exchange renders a daily though often little recognized service, one should at once recall our great farming population. The tremendous economic significance to this country of our vast and fertile fields, and of our great and progressive farming population is sometimes overlooked in the turmoil and clamor of city life. When the city dweller delves into statistics, when he learns of the several “billion-dollar crops” which these men raise each year, and their importance to our entire foreign and domestic commerce, or when he dis-

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